1. The obligations of the Borrower to repay the Loan shall be evidenced by and otherwise payable in accordance with the terms and provisions of the Intercompany Promissory Note between the Lender and the Borrower dated May XX, 2016 (the “Note”).
Accordingly, this letter is not an amendment of the Note nor by itself a legally binding document, but rather is a summary of the current terms and conditions of an advance made under the Note and is maintained for record keeping purposes.
2. Purpose: Working capital and long term funding.
3. Term: On demand or earlier as provided in the Note.
4. Interest Rate: Interest shall accrue at a variable rate equal to the cost of funds of Huntsman International LLC (as calculated from time to time by Lender in good faith), plus one eighth of one percent (0.125%) per annum.