Loan Agreement between Clavis Technologies and Hyun Sook Choi dated March 31, 2010

Contract Categories: Business Finance › Loan Agreements
Summary

Clavis Technologies and Hyun Sook Choi entered into a loan agreement on March 31, 2010, for a principal amount of 50,000,000 KRW at an annual interest rate of 12%. Clavis must repay the loan by September 30, 2011, but may prepay at any time, which would terminate the agreement. If Clavis does not repay by the due date, Hyun Sook Choi can require repayment in Clavis common stock instead of cash.

Read More Arrow
EX-10.12 5 clavis_s1a-ex1012.htm LOAN AGREEMENT clavis_s1a-ex1012.htm
Exhibit 10.12
 
 
Abstract for the loan agreement with Hyun Sook Choi
 
Parties of the an agreement
Hyun Sook Choi, Clavis Technologies
The date of an agreement
2010.03.31
The amount of loan
\ 50,000,000
The date of repayment
2011.09.30
The interest
12% / a year
Contents of the contract
- Clavis can prepay the loan at any time.
- When Clavis prepays the loan, this agreement will expire.
- If Clavis cannot payback by September 30, 2011, Hyun Sook Choi may ask for loan to be paid in shares of Clavis common stock.