Revolving Credit Agreement between DotVN, Inc. and Hue Tran Johnson dated October 29, 2009
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Summary
DotVN, Inc., a Delaware corporation, agrees to repay Hue Tran Johnson the total amount advanced under this revolving credit agreement, plus 10% annual interest, by January 29, 2010. The agreement allows for multiple advances and repayments up to the due date. If legal action is required to collect payment, DotVN, Inc. will cover court-awarded attorney fees. The agreement is binding on both parties and their successors. The initial advance is $10,000.
EX-10.52 2 v169001_ex10-52.htm Unassociated Document
Exhibit 10.52
REVOLVING CREDIT AGREEMENT
| Revolving | San Diego, California | October 29, 2009 |
For value received, receipt of which is acknowledged, DotVN, Inc., a Delaware corporation, (“Maker”) promises to pay to Hue Tran Johnson, San Diego, California, (“Payee”), or order, at such place as Payee may designate, the cumulative sum advanced under this revolving credit agreement net of any repayments, plus interest at the rate of ten percent (10%) per annum, on or before January 29, 2010 (the “Due Date”).
If action be instituted on this note, Maker promises to pay such sum as the Court may fix as attorneys fees.
This note will inure to the benefit of and be binding upon the respective heirs, executors, administrators, successors and assigns of the Maker and Payee.
IN WITNESS THERETO, Maker has affixed its signature by a duly authorized officer under the seal of this corporation.
| DOT VN, INC. | ||
| /s/ | Thomas Johnson | |
| By: | Thomas Johnson | |
| Its: | CEO | |
| Date | Location | Funds (USD) Advanced | ||||
| 29 October 2009 | San Diego, CA, USA | $ | 10,000 | |||
REVOLVING CREDIT AGREEMENT
