Amendment dated April 1, 2009 to Letter Agreement, dated July 14, 2008, between Bank Mizrahi Tefahot Ltd., as lender, and AudioCodes Ltd., as borrower. (English Summary of Documents in Hebrew)
Amendment
dated April 1, 2009 to Letter Agreement, dated July 14, 2008, between Bank
Mizrahi
Tefahot Ltd., as lender, and AudioCodes Ltd., as borrower.
Tefahot Ltd., as lender, and AudioCodes Ltd., as borrower.
(English
Summary of Documents in Hebrew)
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Date:
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April
4, 2009
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Parties:
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Bank
Mizrahi Tefahot Ltd.
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Borrower:
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Financial
Covenants:
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In
relation to the following covenant:
Operating
income (US GAAP):
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-
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At
least $3 million for each consecutive four fiscal quarters, commencing
December 31, 2008.
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The
parties agreed that until December 31, 2009 expenses due to impairment of
intangible assets shall not be taken into account as part of the calculation of
the operating income.
