英语翻译

英语翻译
ExtensionAgreement on the Loan Agreement
Lender:(the “Lender”)
Address:38 Eunhaeng-ro(16-1 Yeouido-dong),Yeongdeungpo-gu,Seoul,Korea
Borrower :(the “Borrower”)
Address :
Due to its production,operation and investment activities,the Borrowerfaces difficulties in repaying the matured loan (U$7,000,000.-) under the Loan Agreementdated 10th of Dec,2012 (the “Facility”) entered into between the Lenderand the Borrower.
Therefore,the Borrower requests Lender to extend the term of the Facility.Upon examination and verification,the Lender agrees to extend the term of theFacility requested by the Borrower.After mutual consultation,the parties agree as follows:
Article1.The Facility in favor of the Borrower in the amountof Seven million U.S.Dollars (U$7,000,000.-) under the Loan Agreement shall bedue and payable on 31st of Dec,2013.The parties agree the repayment date of the aggregate principal amount of the Facility outstanding (the “ExtendedLoan”) shall be deferred to 31stof Dec,2014.
Article2.The interest on the Extended Loan for theextended term shall be the rate equal to Libor(3M) + 1.87%(One point Eight Sevenpercent).
This Extension Agreement shallcome into force from the date of execution of this Agreement by the dulyauthorized representatives of the Lender and the Borrower with their respectiveseals affixed thereto and shall be automatically terminated upon the fullrepayment of the principal of the Extended Loan and its interest accruedthereto and all sums payable by the Borrower.