EXHIBIT 10.6
SUMMARY
Loan Agreement Between Xxxxxxxx Xxxxx and Intershop Communications AG
Parties Xxxxxxxx Xxxxx and Intershop Communications,AG
Loan Amount Up to Euro 7,000,000 by Xx. Xxxxx to INTERSHOP
Communications AG.
Purpose Working capital credit ("Betriebsmittelkredit") in form
of an overdraft credit without earmarking for a
specific purpose.
Interest Rate 6% per year.
Delivery of Funds The amount has to be transferred in total or partly
upon request by the borrower to its account at
Commerzbank Jena (Germany) within five (5) business
days (overdraft credit).
Collateral Assignment of all current, open claims of Intershop
Communications AG and all of its affiliated companies
except Intershop Communications Inc.
Termination Three months' notice without cause, or immediately with
cause (e.g., the delay of interest repayments, special
breach of contract, making of false statements with
respect to the granting or the continued granting of
the loan, opening of certain proceedings related to the
borrower's bankruptcy, or final suspension of payments)
Repayment The loan is due in total on the day on which the
agreement has been terminated. The borrower can repay
the loan in total or in installments at any time.
Governing Law The laws of the Federal Republic of Germany.
