XXXXX X. XXXXXXX
000 XXXXXXX XXXX XXXXX
XXXXX 000
XXX XXXX, XXX XXXX 00000
(000) 000-0000
Fax (000) 000-0000
May 30, 2000
Xxxxx X. Xxxxxxx, President
Inc.ubator Capital, Inc.
0000 Xxxxxxxx Xxxxxxxxx
Xxxxx 000
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
Re: Loan of $1 million by Xxxxx X. Xxxxxxx to Inc.ubator Capital, Inc.
(the "Company")
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Dear Xxxxx:
I herewith agree to lend the Company an aggregate of $1 million U.S. (the
"Loan"). The Company agrees that the Loan will bear interest at the annual rate
of 8%, payable quarterly in arrears commencing September 1, 2000, and that the
entire principal (the "Principal") will be due and payable on July 1, 2001.
In accordance with the directions of the Company, I will pay the Principal by
wire transferring $1 million U.S. to ThemeWare Corp. The Company agrees that,
upon confirmation from ThemeWare Corp. of receipt of the $1 million U.S., it
will issue to me a note (the "Note") reflecting the terms of the Loan.
The Company represents and warrants that the Note has been legally authorized
and covenants that, upon execution thereof as provided herein, it will represent
the legally binding obligation of the Corporation enforceable in accordance with
its terms.
Please confirm the Company's agreement to the foregoing by signing this letter
in the appropriate place below and returning it to me.
Very truly yours,
Xxxxx X. Xxxxxxx
ACKNOWLEDGED AND ACCEPTED
Inc.ubator Capital, Inc.
/s/ Xxxxx X. Xxxxxxx
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Xxxxx X. Xxxxxxx, President
