SEC Contract Filing

Filing Date: 2022-02-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>amendment-norurlgrundartan.htm
<DESCRIPTION>EX-10.1 - AMENDMENT TO ICELANDIC CREDIT FACILITY
<TEXT>
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<title>Document</title></head><body><div id="ia7be9c94b7204c87a246187d7430fa97_1"></div><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Exhibit 10.1</font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">0106-36-028285</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:16pt;font-weight:700;line-height:100%">Amendment</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">to the Committed Revolving Credit Facility in the amount of USD 50.000.000,-, between Nor&#240;ur&#225;l Grundartangi ehf., reg. no&#58; 570297-2609, as the Borrower and Landsbankinn hf., reg. no. 471008-0280, as the Bank, dated November 27</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> 2013 as amended from time to time (hereinafter referred to as the &#8220;Agreement&#8221;).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">The Borrower and the Bank have agreed to make the following amendments to the Agreement&#58;</font></div><div><font><br></font></div><div style="padding-left:36pt;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:27.83pt;text-decoration:underline">Facility Amount</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Definition of &#8220;Facility Amount&#8221; in Clause 1.1 of the Agreement shall hereafter be as follows&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8220;&#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Facility Amount&#8221;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">means USD 80.000.000 (eighty million US dollars).&#8221;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:27.83pt;text-decoration:underline">Margin</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Definition of &#8220;Margin&#8221; in Clause 1.1 of the Agreement shall hereafter be as follows&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8220;&#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Margin&#8221;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">means 3,05% (three point zero five per cent) per annum.&#8221;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:27.83pt;text-decoration:underline">Restriction of drawing</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Clause 2.2. of the Agreement shall be deleted and replaced with the following clause&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8220;The aggregate Facility Amount may not at any time exceed 70% of the aggregate amount of the Borrower&#8217;s inventory and receivables as set forth on the most recent report provided by the Borrower to the Bank pursuant to Clause 4.2. (c).&#8221;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-inden