EXHIBIT 10.29
Loan Agreement IPFD-NTO 0301-02
This agreement is made this 3rd January 2002 by and between
I P Fibre Devices (UK) Ltd a company resident in the United Kingdom whose
Registered Office address is Xxxxxx Xxxxx, 00 Xxxxxxxxx Xxxxx. London SW 1 E 6DY
hereinafter referred to as the "Lender", and
NTO IRE-Xxxxx whose registered office is located at Vvendenskogo Sq. 1.
Fryazino, Xxxxxx 000000, Xxxxxx hereinafter referred to as the "Borrower".
Subject of the Agreement. The Lender hereby agrees to advance to the
Borrower the sum of USD 560,000 (five hundred and sixty thousand UD
Dollars). The sum will be advanced to the Borrower by the 20th Day January
2002.
2. Terms and Conditions of the Loan. The loan is unsecured and shall bear
interest at the fixed rate of current LIBOR plus 2%, which is 4.44% per
annum. The Lender has the right to review and adjust the interest rate
attached to the loan every six months subject to such adjustment still
reflecting the basis of calculation detailed above. Interest shall be
calculated quarterly on the basis 30 days per month. 90 days per quarter.
180 days per half of year and the number of days that loan has been drawn
down during that quarter and will be invoiced to the Borrower at the end of
each quarter by the Lender. Interest will only be calculated on the initial
principal amount of the loan, however the borrower shall have the right to
accrue and pay interest only when the loan is repaid.
3. Repayment. The term of the loan is initially for a period of 180 days only.
However it may be extended at the mutual consent of both parties for a
period of up to 2 years after which it will become repayable in hill
including any amounts or accrued but unpaid interest.
4. Notices. All notices, requests, demands or other communications to be given
by either party to the other pursuant to this Agreement shall be in writing
and in the English language and sent by telefax, electronic mail, cable or
registered mail. postage prepaid to the following addresses:
I P Fibre Devices Ltd NTO IRE-Xxxxx
Xxxxxx Xxxxx Vvendenskogo Sq. I
00 Xxxxxxxxx Xxxxx Xxxxxxxx
Xxxxxx XXXX 0XX Xxxxxx 000000
Xxxxxx
Executed by the undersigned parties:
For and on beha1f of For and on behalf of
IP Fibre Devices Ltd. NTO IRE-Xxxxx
/s/ Xxxxxxxx X. Xxxxxxxxx
------------------------------------- ----------------------------------------
Witnessed by: Witnessed By:
/s/ Xxxx Xxxxxxxx
------------------------------------- ----------------------------------------
Name: Name: Xxxx Xxxxxxxx
-------------------------------
Loan Agreement I PFD-NTO 0301-02
Addendum No. 2
This addendum is made this day 5th January 2004 by and between
I P Fibre Devices Ltd a company resident in the United Kingdom whose Registered
Office address is Xxxxxx Xxxxx, 00 Xxxxxxxxx Xxxxx. Xxxxxx XXXX 0XX hereinafter
referred to as the "Lender", and;
NTO IRE--Xxxxx whose registered office is located at Xxxxxxxxxxx Xxxxxx 000000,
Xxxxxx hereinafter referred to as the "Borrower".
1. Subject of the Agreement. The Lender has advanced to the Borrower the
sum of USD 560,000 (five hundred and sixty thousand US Dollars).
2. Terms and Conditions of the Loan. No Changes.
3. Repayments. The term of the loan is extended to 20th January 2006 when
the Borrower promises to pay in full all amounts outstanding under the
Agreement including any amounts of accrued but unpaid interest.
4. Notices. All notices, requests, demands of other communications to be
given by either party to the other pursuant to this Agreement shall be
in writing and in the English language and sent by telefax, electronic
mail, cable or registered mail. postage prepaid to the following
addresses:
I P Fibre Devices Ltd NTO IRE-Xxxxx
Xxxxxx House Vvedenskogo Sq. 1d
00 Xxxxxxxxx Xxxxx Xxxxxxxx
Xxxxxx XX0X ODY Xxxxxx 000000
Xxxxxx
Executed by the undersigned parties:
For and behalf of IP Fibre Devices For and behalf of NTO IRE-Xxxxx
Ltd.
/s/ X. Xxxxx
/s/ Xxxxxxx X.X. Xxxxxx ----------------------------------------
------------------------------------ Name: X. Xxxxx
Name: Xxxxxxx X.X. Xxxxxx Position:
Position: Company Secretary ------------------------------
Witnessed By: Witnessed By:
----------------------------------- ----------------------------------------
Name: Name:
----------------------------- ----------------------------------
Loan Agreement IPFD-NTO 0301-02
Addendum No. I
This addendum is made this day 14th February 2006 by and between
IP Fibre Devices Ltd a company resident in the United Kingdom whose Registered
Office address is Stuart House. 00 Xxxxxxxxx Xxxxx, Xxxxxx XX0X 0XX herein
referred to as the "Lender", and;
NTO IRE-Xxxxx whose registered office is located at Xxxxxxxxxxxx Xx.0, Xxxxxxxx
Xxxxxx 000000, Xxxxxx hereinafter referred to as the "Borrower".
1. Subject of the Agreement. The Lender has advanced to the Borrower the sum
of USD 560,000 (five hundred and sixty thousand US Dollars).
2. Terms and Conditions of the Loan. No Changes
3. Repayment. The term of the loan is extended to 31st December 2007 when the
Borrower promises to pay in full all amounts outstanding under the
Agreement, including any amounts of accrued but unpaid interest.
4. Notices. All notices, requests, demands or other communications to be given
by either party to the other pursuant to this Agreement shall be in writing
and in the English language and sent by telefax, electronic mail, cable or
registered mail, postage prepaid to the. following addresses;
IP Fibre Devices Ltd MD IRE-Xxxxx
Xxxxxx House Vvedenskogo Sq. I
00 Xxxxxxxxx Xxxxx Xxxxxxxx,
Xxxxxx XX0X 0XX Xxxxxx 000000
Xxxxxx
Executed by the undersigned parties:
For and on behalf of IP Fibre Devices For and on behalf of NTO IRE-Xxxxx
/s/ Xxxxxxx Xxxxxx /s/ Xxxx Xxxxxxxx
------------------------------------- ----------------------------------------
Name: Xxxxxxx Xxxxxx Name: Nine Federova
Position: Company Secretary Position: Finance Director
Witnessed by: Witnessed by:
/s/ Xxxxxx Xxxxxx /s/ Xxxx X. Xxxxxxx
------------------------------------- ----------------------------------------
Name: Xxxxxx Xxxxxx Name: Xxxx X. Xxxxxxx
