Credit Facility Contract between Danske Bank A/S and Bark Property ApS for DKK 21,900,000 floating interest business

DKK

DKK

DKK

DKK

DKK

DKK

DKK

The credit facility shall be subject to renegotiation every year when the financial statements/annual report/annual statement from the Danish tax authorities are/is available.

The credit line shall be reduced by DKK on the last business day of every month, the first reduction being

The credit facility shall subsist for the time being.

The credit facility shall be discharged by the proceeds of mortage loan and new foreign currency loan no later than 31 December 2007.

Lending rate of interest The borrower shall pay a floating interest rate on the borrowings under the credit facility, equivalent to Danske BID for DKK with a variable addition fixed by the bank, currently 1.5000 percentage point.

In the event of a change of address, the borrower shall inform the bank of such change of address.

The borrower shall be under an obligation to inform the bank of its financial affairs if requested to do so by the bank. This shall apply even if the bank has requested no such information when the loan was granted.

As such, the bank shall be entitled to demand disclosure of all accounting, budgetary and auditing information, including any long-form audit reports, which the bank may deem necessary in order to shed light on the borrower’s financial affairs. For companies, such information could be an audited annual report with specifications as well as budgets, and for other business borrowers, including owner-managed businesses, financial statements with a statement of income and assets.

Furthermore, the bank may demand information about the owner’s/principal shareholder’s personal finances, such as income tax returns, annual statements from the Danish tax authorities and budgets.

The bank may inform any third-party mortgagors/guarantors of the balance of the facilities secured by a mortgage or a guarantee.

If the bank has a pledge on a car, boat and other chattels or real property and the pledged asset includes loss insurance and/or fire insurance, the borrower shall pay the premium fixed by the insurance company from time to time.

If security has been furnished by a third party, the borrower shall pay the insurance premium if it is not paid by such third party.

The borrower may terminate the credit facility contract and repay the outstanding debt, in full or in part, to the bank at any time.

Notwithstanding any repayment provisions, the bank may call in the loan at any time without notice.

The borrowings under the credit facility shall be repaid immediately, if:

• any amount under this credit facility contract is not paid when due

 •

the borrower or guarantor

•

becomes the subject of execution or attachment, suspends payments, becomes subject to insolvency proceedings, commences negotiations on debt restructuring or composition, including asking the bank or another creditor for voluntary composition

•

takes up residence outside Denmark and prior to the move fails to make an agreement with the bank about how the borrowings under the credit facility should be repaid

•

dies

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discontinues its operations through a merger with another company or a demerger

•

the value of security that the borrower or a third party has furnished in the form of shares, bonds, currency, mortgages or other price-sensitive securities, or in financial assets, is reduced significantly, and no additional security is furnished which is satisfactory to the bank within 14 days of the bank having requested such security

•

insurance taken out on pledged items is not maintained, and if the pledgor does not, within 8 days of the bank having issued a written request for remedial action to be taken, produce a receipt proving that remedial action has been taken

•

the bank estimates that there has been a significant negative change in the borrower’s or guarantor’s financial affairs

•

the borrower does not inform the bank of its financial affairs as provided above under ”Duty to disclose information to the bank”

•

•

•

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By signing this credit facility contract, the borrower accepts that the bank may change its General Terms and Conditions of Business subject to the notice specified in the Terms and Conditions of Business.

By signing this document, the borrower declares to owe Danske Bank A/S the borrowings under the credit facility from time to time plus interest, commission

and any fees and costs.

If there is more than one borrower, the borrowers shall be jointly and severally liable.

At the same time, the borrower acknowledges receipt of a copy of the credit facility contract.

Date

Date

/s/ Bent Helvang

 /s/ Maria Brabrand

PROJECT MANAGER MARIA BRABRAND

Binding signature

Witness

Bark Property ApS

CHAIRMAN + CEO BENT HELVANG

Date

Date

Binding signature

Witness