Incredimail 2011 Annual Report Download - page 131

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In this document, the expression "law" shall mean any law, regulation, or instructions of the Bank of Israel or any other authority, whether or not having the force
of law, including agreements between the Bank and the Bank of Israel or such other authority.
Yours faithfully,
BANK LEUMI LE-ISRAEL B.M.
4.5.
The Borrower shall sign all customary forms and documents in form and scope which the Bank shall reasonably consider necessary with respect to the
granting of the Credit Facility.
4.6.
The Bank shall receive to its full satisfaction, prior to the granting of the Credit or any part thereof, copies of all governmental and other permits and
consents required under any law, if required, with respect to the granting of the Credit and with respect to the said collaterals.
4.7.
No material adverse change shall have occurred in the opinion of the Bank, in the business or financial position of the Borrower, and or its ability to repay
its obligations to the Bank.
4.8.
No adverse change shall have occurred in the limitations imposed upon the Bank, including changes in the policy of the Bank of Israel or any change in law
not existing on the date of signature hereof, relating to Credits (including liquidity requirements relating to the Credit in respect of foreign currency and/or
Israeli currency).
4.9.
For the avoidance of any doubt, it is hereby clarified that the above shall not derogate from and/or prejudice in any manner the Bank's rights and/or the
Borrower's obligations in accordance with any document executed and/or to be executed by the Borrower in favour of the Bank.
5.
Fees and Commissions
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as specified in schedule C attached hereto and forming an integral part hereof.
6.
This letter is personal to you and may not be relied upon by any other party. Your rights under this letter are not assignable or transferable in any manner
whatsoever to any third party. The terms contained in this letter are confidential may not be disclosed in whole or part to any other person or entity without our
prior written consent.
7.
If the terms and conditions specified above are acceptable to you, please confirm your agreement thereto by countersigning this letter in the space provided below
and returning a copy thereof to us by no later than September 13, 2011. Without derogating from any of the terms set out herein, the Bank's proposal herein for the
granting of the Credit Framework to you according to the terms and conditions hereof, shall only come into force if you shall return this letter to us, by the date
specified in the immediately preceding sentence, countersigned by you, and pay us the non refundable commitment fee set out in paragraphs 2 to schedule C.
8.
Furthermore, this letter shall cease to be in force and effect if the Borrower fails to fulfill all the terms of this letter, to the full satisfaction of the Bank, by October
2, 2011.
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