EXHIBIT 10.12
CREDIT AGREEMENT
AMONG
AXT, INC.
AND
THE LENDERS NAMED HEREIN
AND
U.S. BANK NATIONAL ASSOCIATION
AS AGENT
AUGUST 28, 2000
TABLE OF CONTENTS
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Page
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Article I Definitions............................................................2
SECTION 1.1 Defined Terms.......................................2
SECTION 1.2 Interpretation.....................................16
SECTION 1.3 Headings...........................................16
Article II The Credits...........................................................16
SECTION 2.1 Line Of Credit.....................................16
SECTION 2.2 Term Loans.........................................19
SECTION 2.3 The Letter Of Credit Facility......................21
SECTION 2.4 Notice Of Borrowing................................22
SECTION 2.5 Interest/Fees......................................23
SECTION 2.6 Conversion Of Interest Options.....................25
SECTION 2.7 Other Payment Terms................................26
SECTION 2.8 Prepayment.........................................27
SECTION 2.9 Funding............................................28
SECTION 2.10 Pro Rata Treatment.................................29
SECTION 2.11 Change Of Circumstances............................29
SECTION 2.12 Taxes On Payments..................................31
SECTION 2.13 Funding Loss Indemnification.......................32
SECTION 2.14 Author