Funds for development of
renewable energies and savings of energy
Loan Agreement
N° 08/03
between
Etat de
Genève, Department of Territory (DT), Cantonal Energy
Service (ScanE), lender
and
SES
Société d’Energie Solaire SA (hereinafter the
“beneficiary” or “SES SA”), domiciled at
129 route de Saint-Julien 1228 Plan-les-Ouates, borrower
1)
Preamble
On August 21,
2008, SES SA filed a request with DT, ScanE, for a loan of CHF
5,000,000 (five millions of Swiss francs), in accordance with the
Act Establishing Two Funds for the Development of Renewable
Energies and Economies of Energy (L 2 40), for the purpose of
bridge-loan designated to complete the loan granted for the
construction of their new manufacturing facility in ZIPLO, which is
located on plot n° 6786 (DDP on plot n° 6708) of the
municipality of Plan-les-Ouates. By decision dated October 8, 2008,
the DT, granted SES a loan of CHF 5,000,000 for a period of 6
months, at the interest rate of 4% per annum. This decision was
contingent upon the signing by the parties of this Loan Agreement.
The latter determines the modalities of the transfer, of the
repayment, and the guarantee of the aforementioned loan.
2)
Transfer of the loaned monies to the borrower
Not a single
transfer shall take place unless the guarantees set forth in
Section 7 hereinafter are presented by the borrower and two copies
of this agreement are signed.
The interests
start from the payment of the loan by State of Geneva, DT,
ScanE.
The loan shall
be paid into the credit for the construction account No R 3307.0035
held at the Bank Cantonal de Genève
The loan is
granted for a maximum period of 6 months starting from the date
where the loan was paid by DT, ScanE.
The loan shall
bear interest of 4% per annum payable by
