Loan Agreement between Green Shoe Inc. and Sunberta Resources Inc. dated March 26, 2008

Contract Categories: Business Finance › Loan Agreements
Summary

Green Shoe Inc. is lending Sunberta Resources Inc. $50,000 at a 10% annual interest rate, compounded monthly. Sunberta Resources must repay the loan upon demand but can pay it off early at any time. If the loan is sent to an attorney for collection, Sunberta Resources will owe an additional 20% attorney's fee on the unpaid balance. The agreement is effective as of March 26, 2008.

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EX-10.1 2 ex101.htm LOAN AGREEMENT DATED MARCH 26 ex101.htm
LOAN AGREEMENT

This Loan Agreement ("Agreement") is dated March 26, 2008

BETWEEN:
Green Shoe Inc. (the "Lender")


AND:
Sunberta Resources Inc. (the "Borrower")

1.           Promise to Pay

Borrower promises to pay to Lender the sum of US$50,000, and interest and other charges stated below (altogether, the "Loan").

2.           Breakdown of Loan

Amount of Loan:                 US$50,000

Annual Rate:
10% annual interest compounded monthly on the last day of each month, with interest accruing from April 1, 2008.

3.           Repayment

Borrower will repay the amount of the Loan upon demand.

4.           Prepayment

Borrower has the right to repay the whole outstanding amount at any time.

5.           Collection fees

If this note is placed with an attorney for collection, then Borrower agree to pay an attorney's fee of 20% of the unpaid balance. This fee will be added to the unpaid balance of the loan.
 
LENDER
BORROWER
GREEN SHOE INC. 
SUNBERTA RESOURCES INC.
   
(signed)
(signed)
   
Authorized Signature
Authorized Signature

 
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