Banque
Cantonale de Genève
CONSTRUCTION LOAN AGREEMENT
BCGE Simplissimo
between
| SES
Société d’Energie Solaire
SA |
Route de Saint-Julien 129, 1228
Plan-les-Ouates |
|
Joint
and several liability:
|
In
case of several obligors, all the obligors shall be jointly and
severally liable, in accordance with Art. 143 seq CO.
|
(hereinafter
the « debtor(s) »)
and
|
Banque Cantonale de Genève
|
Quai
de l’Ile 17, 1204 Geneva
|
(hereinafter
the « bank »)
|
Purpose:
|
Financing
of the construction of a manufacturing facility located at chemin
du Champ-des-Filles 36, Plan-les-Ouates.
|
|
Loan
Limitation:
|
CHF
8,500,000.00 (Swiss Francs eight million five hundred
thousand)
|
|
Use:
|
In
account-receivables, reference of which shall be subsequently
communicated to the debtor(s).
|
|
Interest
rate:
|
3.500%
per year, to the extent of the loan limitation, variable at any
time, especially subject to the market conditions.
|
|
Commission:
|
0.250%
per quarter, based on the maximum amount borrowed during each
quarter.
|
|
File
expenses:
|
CHF
8,500 to be deducted from the account-receivables.
|
|
Billing:
|
The
interests, commissions and the expenses are computed and accounted
for each quarter.
|
|
Collateral:
|
Fiduciary
assignment with full property rights of a 2
nd lien
exclusive mortgage certificate established to the borrower in the
value of CHF 9,000,000.00, ranking after the permanent and distinct
1
st lien
of CHF 216,192.20, established over the right of surface, entered
into the land register, feuillet 6786, secured by parcel N°
6708 in the Municipality of Plan-les-Ouates, pursuant to the
fiduciary assignment attached herewith.
|
| |
The
debtor(s) acknowledge their joint and several liabilities in
connection with the mortgage certificate, which are fiduciary
assigned with full ownership rights to the bank as a guarantee for
the granted loan.
|
|
Maturity:
|
At
the end of the construction, but not later than December 31, 2008,
the bank will consider, notably based upon an expertise and the end
of the construction certificate, converting this loan into the
mortgage certificates [secured by the manufacturing
facility].
|
| |
Notwithstanding
the fixed maturity date, this loan can be terminated by any party,
in accordance with the [bank’s] general
conditions
|
|
Other
Conditions:
|
The
amount of this loan is based upon a temporary financing
plan,
|
|
