Sight Loan Agreement between Jorge Orellana E.I.R.L. and Minera Licancabur S.A. dated September 11, 2008
Jorge Orellana E.I.R.L. (the Lender) has loaned 200 million Chilean pesos to Minera Licancabur S.A. (the Borrower). The Borrower agrees to repay the loan on demand, with no interest and no fixed repayment date. All taxes and expenses related to the loan are the responsibility of the Borrower. Both parties agree to resolve any legal matters in Santiago, Chile. The agreement is notarized and signed by representatives of both companies.
Exhibit 10.7
(English Translation)
SIGHT LOAN
JORGE ORELLANA E.I.R.L.
TO
MINERA LICANCABUR S.A.
In Santiago de Chile on September 11, 2008, there appears JORGE ORELLANA E.I.R.L., RUT No. 76,458,450-3, represented by JORGE OSVALDO ORELLANA ORELLANA, IDENTITY CARD No. 6,784,858-6, for these purposes both domiciled at LATORRE No. 2077, CALAMA, and in transit in this city, hereinafter “LENDER,” and MINERA LICANCABUR S.A., RUT No. 76,009,516-8, represented by JORGE OSVALDO ORELLANA ORELLANA, IDENTITY CARD No. 6,784,858-6, domiciled at LA PASTORA No. 121, OFFICE 201, LAS CONDES, hereinafter the “BORROWER,” the deponents being of legal age, who prove their identity with the aforementioned identity cards and state:
ONE: JORGE ORELLANA E.I.R.L. delivers to MINERA LICANCABUR S.A. the amount of $200,000,000 (TWO HUNDRED MILLION PESOS), which it receives to its full satisfaction accepts for itself.
TWO: MINERA LICANCABUR S.A. undertakes and promises to refund the amount received on sight, without interest and without defined term.
THREE: The expenses and taxes levied on this loan contract will be paid by the borrower.
FOUR: For all legal purposes, the parties establish domicile in the community of Santiago in the Metropolitan Area.
The tax levied on this loan was paid by form 24.1 FOLIO 0544782
| [stamp:] | |
| ANTONIETA MENDOZA ESCALAS | |
| NOTARY | |
| CHILE | |
| [signature] [fingerprint] | [signature] [fingerprint] |
| JORGE ORELLANA E.I.R.L. | MINERA LICANCABUR S.A. |
I certify the signature of JORGE OSVALDO ORELLANA ORELLANA, IDENTITY CARD No. 6,784,858-6, in representation of JORGE ORELLANA E.I.R.L., as Lender, and in representation of MINERA LICANCABUR S.A., as Borrower
SANTIAGO, SEPTEMBER 11, 2008.
[stamp:]
ANTONIETA MENDOZA ESCALAS
NOTARY PUBLIC
16th NOTARY OF SANTIAGO
