LINE OF CREDIT LOAN AGREEMENT AND PROMISSORY NOTECredit Loan Agreement • August 15th, 2011 • VelaTel Global Communications, Inc. • Radiotelephone communications
This Line of Credit Loan Agreement and Promissory Note (“Loan Agreement”) is made as of the 1st day of July, 2011 (“Effective Date”) by and between China Tel Group, Inc. (which includes its pending successor name, VelaTel Global Communications, Inc.), a Nevada corporation (“Borrower”), and Isaac Organization, Inc., a Canadian corporation organized under the laws of Ontario (“Lender”). Borrower and Lender are each sometimes referred to individually in this Agreement as a “Party” and together as “Parties.”
