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EX-10.2 6 ff12022a3ex10-2_primech.htm TERM LOAN (TEMPORARY BRIDGING LOAN) AGREEMENT DATED OCTOBER 21, 2020 BY AND BETWEEN PRIMECH A&P PTE. LTD. AND THE LENDER (SUPPLEMENTED BY A SUPPLEMENTAL LETTERS DATED MAY 5, 2021 AND AUGUST 3, 2021) Primech Holdings Ltd - Term Loan (temporary bridging loan) Agreement dated October 21, 2020 by and between Primech A&P Pte. Ltd. and the Lender (supplemented by supplemental letters dated May 5, 2021, August 3, 2021)(1)

Exhibit 10.2

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 
 

  

 

 
 

 

 

 

 

 

 

 

CONFIDENTIAL

 

3 August 2021

 

Primech A & P Pte. Ltd.

(Entity No. 198801704H)

18 Howard Road

#10-01 Novelty Bizcentre

Singapore 369585

 

Attention: Mr Vernon Kwek
  Director

 

(hereinafter referred to as “you” or the “Borrower”)

 

Dear Sirs

 

BANKING FACILITY UNDER THE ENTERPRISE FINANCING SCHEME - TEMPORARY BRIDGING LOAN

 

We, The Hongkong and Shanghai Banking Corporation Limited (the “Bank”), refer to the facility letter dated 21 October 2020 (as the same may be revised, amended and/or supplemented from time to time) (the “Facility Letter”) in respect of the term loan facility specified therein (the “Facility”) made available to Primech A & P Pte. Ltd., and wish to advise the following revisions to the terms and conditions as set out in this supplemental facility letter (the “Supplemental Facility Letter”).

 

All terms and expressions defined in the Facility Letter shall bear the same meaning in this Supplemental Facility Letter, unless otherwise stated.

 

1.Revision to Undertakings

 

Clause 13(m) of the Facility Letter shall be deleted in its entirety.

 

2.General

 

2.1Save as revised or supplemented herein, all other provisions of the Facility Letter shall continue to apply and to remain in full force and effect.

 

Issued by The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch (UEN S16FC0010A).

The Hongkong and Shanghai Banking Corporation Limited is incorporated in the Hong Kong SAR with limited liability.

 

 

 

  

Primech A & P Pte. Ltd. Page 2 of 2
  3 August 2021
   

 

2.2Without prejudice to the terms and conditions of the Facility Letter, the Facility is subject to review from time to time. Notwithstanding any other provisions in the Facility Letter, the Bank shall have the unrestricted discretion to cancel or suspend, or to determine whether or not to permit drawings in relation to the Facility, and the overriding right of repayment on demand, including the right to call for cash cover on demand for prospective and contingent liabilities.

 

2.3Your continued utilisation of the Facility shall be deemed to be your acceptance of the revised terms and conditions contained herein.

 

This letter is for your reference only and requires no acknowledgement.

 

Yours faithfully

 

 
Eileen Ho   David Sim
Vice President   Senior Vice President and Team Head
Commercial Banking   Commercial Banking