Common use of ADVANCES AND PAYMENTS OF PRINCIPAL Clause in Contracts

ADVANCES AND PAYMENTS OF PRINCIPAL. Amount of Unpaid Amount Principal Principal Notation Date of Advance Paid or Prepaid Balance Made By -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Reference is made to that certain Loan Agreement dated as of May 1, 2001 by and among (i) L.S. Holding (USA), Inc., Little Switzerland, Inc. and L.S. Wholesale, Inc., on the one hand and (ii) ▇▇▇▇▇▇▇ and Company, on the other hand (the "Agreement"). Capitalized terms used herein shall have the meaning ascribed thereto in the Agreement. SCHEDULE 3.1(i) LITIGATION

ADVANCES AND PAYMENTS OF PRINCIPAL. Amount of Unpaid Amount Principal Principal Notation Date of Advance Paid or Prepaid Balance Made By -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Reference is made to that certain Loan Agreement dated as of May 1, 2001 by and among (i) L.S. Holding (USA), Inc., Little SwitzerlandHolding, Inc. and L.S. WholesaleLittle Switzerland, Inc., on the one hand and (ii) ▇▇▇▇▇▇▇ and Company, on the other hand (the "Agreement"). Capitalized terms used herein shall have the meaning ascribed thereto in the Agreement. SCHEDULE 3.1(i) LITIGATION