Loan Agreement
Exhibit 10.21
Creditor, Xxxxx Ki Xxx (hereinafter referred to as the “Creditor”) and the Debtor, GLAAM Co., Ltd. (hereinafter referred to as the “Debtor”), hereby enter into a credit agreement that provides for a revolving line of credit to GLAAM as follows.
Article 1 (Ceiling of Borrowing Amount)
Creditor lends KRW 2,000 million (KRW 2,000,000,000) (hereinafter referred to as the “Borrowing Ceiling”) to Debtor, and Debtor borrows it.
Article 2 (Borrowing Term)
The term of borrowing under this Agreement shall be from January 2, 2023 to December 31, 2023, subject to borrowing from time to time up to Borrowing Ceiling.
Article 3 (Interest Rate and Repayment)
The interest rate on the Borrowings shall be five (5)% per annum.
Article 4 (Allowance of the Mid-term Repayment)
Debtor may prepay (be allowed partial repayment) of the borrowings, subject to the discretion of Debtor
Article 5 (Resolution of Dispute)
If a dispute arises in connection with the Agreement, Creditor and Xxxxxx agree to resolve it amicably based on mutual trust, but if no agreement is reached and a lawsuit is filed, the Seoul Central District Court shall be the competent court.
To confirm and prove the contents of the above agreement, two copies of this agreement shall be executed, and each copy shall be kept respectively after being signed and sealed by Creditor and Debtor.
January 2, 2023
| Creditor Name : Xxxxx Ki Xxx. | Debtor Name : GLAAM Co., Ltd. | |
| Address: #000, 00, 000-xxx, Xxxxxxxxxx-xx, Xxxxxx-xx, Xxxxx, ROK | Address: 000-00, Xxxxxxxxxxxxxxxx-xx, Xxxxxxxxxx-xx, Xxxxxxxx-xx, XXX | |
| Resident Registration Number : 000000-0000000 | Business Registration Number : 000-00-00000 | |
| Representative Director: Xxxxx Xxx Xxx | ||
