Loan Call Agreement between Global BPO Services Corp. and Noteholders dated June 29, 2007
Global BPO Services Corp. and several individual noteholders agree that, before the company's initial public offering, the company may request additional short-term loans (up to $50,000 in total) from the noteholders. Each noteholder is required to provide their share of any requested advance, based on the proportion of their original promissory note. Each advance will be documented by a new promissory note. Requests for advances must be made in writing at least two business days in advance.
EXHIBIT 10.18
Global BPO Services Corp.
177 Beacon Street, Unit 4
Boston, MA 02116
June 29, 2007
Dear Gentlemen,
Reference is made to those certain promissory notes issued by Global BPO Services Corp., a Delaware corporation (the Company), to each of you, in the aggregate principal amount of $200,000 (the Promissory Notes). For purposes hereof, your Proportionate Share shall mean a fraction, the numerator of which shall be the principal amount of the Promissory Note issued to you and the denominator of which shall be $200,000.
By execution of this letter, the Company and each of you agree that, from time to time prior to the consummation of the Companys initial public offering of its securities, at the request of the Company, each of you shall make advances (the Advances) to the Company in an amount equal to your Proportionate Share of the amount requested, provided that the aggregate amount of Advances from all of the undersigned shall not exceed $50,000. Each request for an Advance shall be made by the Company in writing, delivered at least two (2) business days prior to the requested date of such Advance and shall specify the date and amount of such Advance. Each Advance shall be documented by a Promissory Note issued by the Company, dated as of the date of such Advance.
Kindly acknowledge your agreement to the foregoing by signing where indicated below.
Global BPO Services Corp. | ||
By: | /s/ R. Scott Murray | |
Name: | R. Scott Murray | |
Title: | Chief Executive Officer |
Acknowledged and Agreed: |
/s/ R. Scott Murray |
R. Scott Murray |
/s/ Lloyd Linnell |
Lloyd Linnell |
/s/ Kevin T. OLeary |
Kevin T. OLeary |
/s/ Paul G. Joubert |
Paul G. Joubert |