[EXHIBIT 10.17]
MODIFICATION AND AMENDMENT NO. 1
TO LOAN AGREEMENT DATED FEBRUARY 20, 2002
(hereinafter referred to as the "Agreement")
Between
TEREX Corporation, a Delaware corporation
a business company with its registered offices in the County of New
Castle, 1013 Centre Road, City of Wilmington, State of ▇▇▇▇▇▇▇▇
▇▇▇▇▇, ▇▇▇
with its place of business at ▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇,
▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇
represented by ▇▇. ▇▇▇▇▇ ▇▇▇▇▇ through a power of attorney,
(hereinafter referred to as the "Lender")
and
TATRA a.s.,
with its registered offices at Koprivnice, Stefanikova 1163,
registered with the Commercial Register held by the Municipal Court
in Ostrava under section B, file no. 309,
IC: 45 19 34 44
represented by Mr. __________________________,
(hereinafter referred to as the "Borrower")
and
SDC International Inc.,
a Delaware corporation,
with its principal executive office at 777 ▇. ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇,
▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇,
represented by ▇▇. ▇▇▇▇▇▇ ▇. ▇▇▇▇▇, its Chairman,
(hereinafter referred to as "SDC")
and
SDC Prague s.r.o.,
with its registered offices at ▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇▇▇▇ ▇, PSC: 12800,
registered with the Commercial Register held by the Municipal Court
in Prague
under section C, file no. 57198,
IC: 25 64 05 26
represented by ▇▇. ▇▇▇▇▇▇ K. Srkal,
(hereinafter referred to as "SDC
Prague," and together with SDC, the
"Guarantors")
The parties mentioned above hereby modify and amend the Loan
Agreement dated February 20, 2002 as follows:
(1) Section 3 will be replaced as follows:
The Loan Amount is granted for a period beginning on February 20,
2002 ("Signing Date") and ending on May 19, 2004 or earlier if
terminated pursuant to Section 13 ("Maturity Date").
(2) Section 5.3. will be amended as follows:
f. monthly repayment in 7 tranches, each USD 250,000.00 starting on
October 19, 2003 until April 19, 2004. The remaining principal
amount of USD 3,250,000.- will be paid in one bullet payment on
May 19, 2004.
(3) Section 19 will be amended as follows:
9. Tatra will enter into a Management Consulting Agreement with
Terex on acceptable terms.
10. Tatra, SDC International, Inc. and SDC Prague s.r.o. hereby
consent to the assignment by Terex of 4,370,000 shares of Tatra
to Vectra Limited.
In______, on ______ In _____, on_____
/s/ /s/
------------------------- ---------------------------
TEREX Corporation TATRA a.s.
In______, on ______ In _____, on_____
/s/ /s/
------------------------- ---------------------------
SDC International Inc. SDC Prague s.r.o.
