Boxes in panels are without "Edit box" link

Box inside panel does not have the "Edit box" link

The problem was introduced in issue #1093550: Replace "Edit" text with Contextual Links.

The change was that the edit link should be moved to contextual link, but if the If the Contextual Links module is disabled, then there is no link at all.

the problematic code:
boxes.js

        // See if we are within a panel.
        if ($(this).parent().parent().hasClass("pane-content")) {
          $(this).hide();           <-- box controls are hidden without checking if it can be moved to contextual link
        }