EX-10.1
from 8-K
3 pages
Convertible Loan Agreement 1. General A) Qnective Is a Company Which Is Active in the Field of Telecommunications in Switzerland. for the Further Enrolment of Its Services It Requires Sufficient Working Capital; B) Therefore, Qnective Wishes to Borrow From Kunz, and Kunz Wishes to Lend to Qnective, a Total Amount of Usd 2’000’000.00 in the Form of a Convertible Subordinated Loan. 2. Delivery of the Funds Kunz Will Immediately Provide for a Transfer to the Bank Account of Qnective at ; the Amount of Usd 2’000’000.00. Qnective Will Acknowledge Receipt of That Amount and Acknowledge Owing Usd 2’000’000.00 to Kunz, With Reference to the Present Agreement. 3. Interest a Fixed Interest of 15% Per Annum Shall Be Due on the Principal. the Interest Is Due From the Date of the Execution of This Agreement and Is Payable Quarterly, Beginning at December 1th , 2008. 4. Term; Prepayment of Loan A) All Unpaid Principal Shall Be Due and Payable on the Third Anniversary of This Agreement (Such Date Is Referred to as "Due Date"). B) Qnective May Prepay the Principal on the First Anniversary of This Agreement by Giving 30 Days Notice in Writing. in Such Case, Qnective Has to Pay an Interest of 7.5 Per Annum of the Remaining Term of This Agreement. 5. Conversion Option
12/34/56
