Lender Agreement, dated June 22, 2017, between OrangeHook, Inc. and Richard Bernstein
EX-10.89 5 exhibit1089.htm EXHIBIT1089
Exhibit 10.89
Lender Agreement
This Lender Agreement ("Agreement") is entered into by and between OrangeHook, Inc. ("OrangeHook"), a Florida corporation with headquarter offices at 319 Barry Ave. S., Ste. 300, Wayzata, MN 55391 and Richard Bernstein ("Bernstein") of [*], MN (collectively, the "Parties") on June 22, 2017.
The Parties agree as follows:
1. | In consideration for this loan dated June 22, 2017 from Bernstein in the amount of $150,000 ("Loan"), OrangeHook will pay Bernstein 20 basis points per day until the Loan is repaid no later than July 21, 2017 ("Loan Period"); provided, however that the amount owed to Bernstein will be a minimum of $7,500 in interest, even if the Loan is repaid prior to twenty-five (25) days from the June 22, 2017. |
2. | The maturity date of this Loan, as well as all accrued and unpaid interest, is July 21, 2017 (thirty days from the date of the Loan). |
3. | Regardless of the source, the first $150,000 of funds received by OrangeHook will be paid to Bernstein upon receipt and without delay and Bernstein's receipt of such amount will constitute a payment under this agreement. The amount of the Loan will be reduced on a dollar-for-dollar basis upon Bernstein's receipt of any payments from OrangeHook under this agreement. |
Agreed to and Accepted By:
OrangeHook, Inc.
/s/ David C. Carlson | Date: June 22, 2017 |
David C. Carlson | |
Title: CFO | |
/s/ Richard Bernstein | Date: June 22, 2017 |
Richard Bernstein |