Amendment No. 1 to the Master Loan Agreement
Exhibit
10.4.1
Amendment
No. 1 to the Master Loan Agreement
This
Amendment No. 1 (this “Amendment”), dated as
of March 5, 2009, to the Master Loan Agreement dated as of the 6th day of
August, 2008 (the “Loan Agreement”), is
made by and between MapCash Management Ltd., an Antigua and Barbuda corporation
(the “Lender”),
and each of FastCash International Limited, a British Virgin Islands corporation
(“FCI”),
FastCash Dominica Ltd., a Commonwealth of Dominica corporation (“FC Dominica”),
Financial Services Inc., a Commonwealth of Dominica
corporation (“FSI”), FastCash (St.
Lucia) Ltd., a St. Lucia corporation (“FC St. Lucia”),
CashExpress Ltd., a St. Xxxxxxx and the Grenadines
corporation (“CE St. Xxxxxxx”),
FastCash Limited, a Grenada corporation (“FC Grenada”), and
FastCash (Antigua) Limited, an Antigua and Barbuda
corporation (“FC Antigua” and,
together with FC Dominica, FSI, FC St. Lucia, CE St. Xxxxxxx and FC Grenada,
collectively hereinafter the “Borrowers”). Capitalized
terms used and not otherwise defined shall have the meanings ascribed to them in
the Loan Agreement.
Whereas, pursuant to Section 1.4 of
the Loan Agreement the entire unpaid principal balance of the Loans, all accrued
and unpaid interest and fees thereon and all other amounts due under the Loan
Agreement shall be paid on demand; and
Whereas, the Lender and the Borrowers
wish to amend the Loan Agreement to provide that the entire unpaid principal
balance of the Loans, all accrued and unpaid interest and fees thereon and all
other amounts due under the Loan Agreement shall be paid on
or before July 10, 2010.
Now, Therefore,
for good and valuable consideration, the adequacy and receipt of which are
hereby acknowledged, the parties hereto agree as follows:
1. Section
1.4 of the Loan Agreement is hereby deleted in its entirety, and the following
new Section 1.4 is inserted in lieu thereof:
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“1.4.
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Payment. The
Borrowers shall have the right to repay all or any portion of the
Principal Sum from time to time and request re-advances of all or any
portion of the Principal Sum, provided that the total amount outstanding
at any time shall not exceed the Principal Sum plus accrued Base Interest
for one month. Accrued and unpaid interest shall be paid on the first day
of each January, April, July and October after the date hereof. The entire
unpaid principal balance of the Loans, all accrued and unpaid interest and
fees thereon, and all other amounts due hereunder shall be paid on or
before July 10, 2010.”
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2. This
Amendment may be executed by facsimile in one or more counterparts.
IN WITNESS WHEREOF, the
parties have executed and delivered this Amendment as of the day and year first
written above.
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Lender:
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MAPCASH
MANAGEMENT LTD.
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By.
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/s/
Xxxxxxxx Xxxxxxx
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Name:
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Xxxxxxxx
Xxxxxxx
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Title:
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Director
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Borrowers:
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FASTCASH
INTERNATIONAL LIMITED
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By.
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/s/
Xxxxxxxx Xxxxxxx
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Name:
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Xxxxxxxx
Xxxxxxx
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Title:
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Director
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FASTCASH
DOMINICA LTD.
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By.
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/s/
Xxxxxx Xxxxx
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Name:
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Xxxxxx
Xxxxx
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Title:
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CEO
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FINANCIAL
SERVICES INC.
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By.
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/s/
Xxxxxx Xxxxx
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Name:
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Xxxxxx
Xxxxx
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Title:
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CEO
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FASTCASH
(ST. LUCIA) LTD.
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By.
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/s/
Xxxxxx Xxxxx
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Name:
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Xxxxxx
Xxxxx
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Title:
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CEO
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CASHEXPRESS
LTD.
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By.
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/s/
Xxxxxx Xxxxx
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Name:
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Xxxxxx
Xxxxx
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Title:
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CEO
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FASTCASH
LIMITED
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By.
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/s/
Xxxxxx Xxxxx
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Name:
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Xxxxxx
Xxxxx
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Title:
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CEO
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FASTCASH
(ANTIGUA) LIMITED
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By.
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/s/
Xxxxxx Xxxxx
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Name:
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Xxxxxx
Xxxxx
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Title:
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CEO
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