BRIDGE LOAN AGREEMENTBridge Loan Agreement |
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Europartners Company Ltd | ITS Networks Inc | VOLIM Holding BV. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
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EXHIBIT 10 (a)
Private & Confidential
Dated: August 8, 2004
ITS Networks Inc. (1)
And
Volim B.V. (2)
Bridge Loan Agreement
English Version under Dutch Law
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THIS AGREEMENT is dated August 8, 2004 and is made BETWEEN:
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(1) |
ITS Networks Inc., incorporated under the laws of Florida, United States of America, having its registered office at 1200 South Pine Island Road, Plantation, Florida 33324 (hereinafter "ITSN") and represented in this act by Gustavo Gomez, President of the Company and with contact address C/ Severo Ochoa 28, 9’th floor, Marbella, 29600 Malaga, Spain; |
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(2) |
VOLIM Holding B.V. a Dutch registered company with offices at Dorpstraat 1, 3611 AD OUD Zuilen, The Netherlands (hereinafter "VOLIM") and represented in this act by Mr. L.L.M. Vehmeijer, of Dutch nationality, with the same contact address as above (hereinafter "VEHMEIJER"). |
WHEREAS
| a) | ITSN is in an expansion phase for which it needs approximately 3 million euros, euros which will arrive via Europartners Company Ltd. which have just signed an investor to inject up to 5 million Euro into ITS Networks. |
| b) | The parties have reached an agreement to help provide a bridge loan until the necessary funds arrive to fund the expansion of ITSN. |
| c) | Such Bridge financing is the subject of this agreement and will be effected through VOLIM lending to the Company in the form of a short term bridge loan f
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