Short Term Advance Agreement between MediaBin, Inc. and Gezina AS (February 18, 2003)
MediaBin, Inc., a Georgia corporation, agrees to repay Gezina AS, a Norwegian corporation, $30,000 in U.S. dollars by May 30, 2003. The loan is provided without interest, and MediaBin waives certain formalities related to payment notices. The agreement is governed by Georgia law and is signed by authorized officers of MediaBin.
Exhibit 10.3
SHORT TERM ADVANCE
| $30,000 | February 18, 2003 |
FOR VALUE RECEIVED, the undersigned, MediaBin, Inc., a Georgia corporation (the “Borrower”), promises to pay to Gezina AS, a Norwegian corporation (the “Lender”), at Radhusgt.5B 0151 Oslo, Norway (or at such other place as the Lender may designate in writing to the Borrower), in lawful money of the United States of America, the principal sum of thirty thousand dollars ($30,000), without interest, as hereinafter provided.
The indebtedness evidenced by this Advance shall be due and payable on May 30, 2003, as hereinabove provided.
The Borrower hereby waives presentment for payment, demand, notice of non-payment or dishonor, protest and notice of protest, or any other notice of any kind with respect thereto.
Time is of the essence of this Advance.
This Advance shall be deemed to be made pursuant to the laws of the State of Georgia.
IN WITNESS WHEREOF, the duly authorized officers of the Borrower have executed, sealed, and delivered this Advance, as of the day and year first above written.
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| MEDIABIN, INC. |
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| By: | /s/ DAVID MORAN |
| Attest: | /s/ HAINES HARGRETT |
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| David P. Moran |
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| Haines H. Hargrett |
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