Yak Communications Inc Watch

from SC 13D 9 pages This Summary of Terms and Conditions (“Summary”) Represents an Outline of the Basis on Which the Subordinated Lenders Are Prepared to Provide Their Commitment Under the Credit Facilities. the Credit Facilities Will Only Be Established Upon Completion of Definitive Loan Documentation Including a Credit Agreement (The “Credit Agreement”) Which Will Contain the Terms and Conditions Set Out in This Summary in Addition to Such Other Representations, Warranties, Covenants, Indemnities, Defaults, and Other Terms and Conditions (Including Increased Costs. Reserve, Tax, Capital Adequacy, Currency of Payment and Other Provisions) as the Subordinated Lenders May Reasonably Require Private & Confidential Globalive Communications Corp. 80 Adelaide Street East, 6th Floor Toronto, Ontario M5c 3e4 Attention: Mr. Anthony Lacavera Mr. Brice Scheschuk Mr. Stewart Thompson

from 8-K 56 pages Agreement and Plan of Merger Dated as of September 20, 2006, by and Among Globalive Communications Corp. Yakquisition Corp. and Yak Communications Inc