Line of Credit Extension Agreement between RedFin Network Inc. and Commercial Holding AG dated October 19, 2012
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Summary
RedFin Network Inc. and Commercial Holding AG have agreed to extend the maturity date and reduce the interest rate on their existing line of credit. The new maturity date is December 31, 2014, replacing the previous date of December 31, 2012. The interest rate is lowered from 14% to 6% per year. As of the agreement date, the outstanding balance is approximately $1,144,500. This agreement was signed on October 19, 2012.
EX-10.43 6 exhibit_10-43.htm COMMERCIAL HOLDING AG LETTER OF CREDIT EXTENSION AGREEMENT DATED OCTOBER 19, 2012 exhibit_10-43.htm
EXHIBIT 10.43
Line of Credit Extension Agreement
The purpose of this agreement is to extend the maturity date and reduce the interest rate of the Line of Credit currently existing between RedFin Network Inc. and Commercial Holding AG. This Letter of Credit was originally entered into in April of 2008.
The current maturity date is December 31, 2012.
The new maturity date is December 31, 2014.
The current interest rate is 14% per annum.
The new interest rate is 6% per annum.
The approximate current balance existing on the note as of today is $1,144,500.
Agreed to this day October 19, 2012:
_________________________________
Tom Grissom
Managing Partner
Commercial Holding AG
