EXHIBIT 10.9
MEMORANDUM
In regards to the Loan Agreement ("Original Agreement") between Forval
Corporation ("Forval") and PPOL, Inc. ("PPOL") of June 2, 2004, this memorandum
sets forth the conditions and payment terms upon which both parties agreed.
1. Repayment of the 90,000,000 Yen loan from Forval to PPOL,
based on the Original Agreement, is due March 31, 2005. PPOL
will pay the interest for the period of October 1, 2004
through December 31, 2004, on or before December 31, 2004 to
an account designated by Forval. The interest for the period
of January 1, 2005 through March 31, 2005, as well as the
principal, will be paid to Forval's designated account by
March 31, 2005.
2. Regardless of the terms of the Original Agreement, PPOL may
not pay the loan by issuing stocks to Forval.
3. While the Original Agreement remains effective, this
memorandum prevails over the Original Agreement. If a question
arises in regards to any matters not stipulated in this
memorandum, or how to interpret certain items in the Original
Agreement or in this memorandum, both parties will resolve it
by discussion under the doctrine of good faith. Both parties
shall sign and seal two (2) copies of this memorandum and each
party will keep one (1) original copy.
December 14, 2004
_______________________________________
Xxxxx Xxxxxx
CEO, Forval Corporation
0-00-0 Xxxxx-xxx, Xxxxxxx-xx, Xxxxx, Xxxxx
_______________________________________
Xxxxx Xxxxxx
CEO, PPOL, Inc.
00000 Xxx Xxxxxxx Xxxxxxxxx, Xxxxx 000
Xxx Xxxxxxx, XX 00000
