TRAFALGAR Letterhead] TERM AGREEMENTTerm Agreement • September 17th, 2008 • Carbiz Inc • Services-prepackaged software
Whereas CarBiz Inc. (“CarBiz”) has issued and sold to Trafalgar Capital Specialist Investment Fund (“Trafalgar”) the following Secured Convertible Debentures (“Debentures”) under their respective Securities Purchase Agreements (“Purchase Agreements”): $750,000 Secured Convertible Debenture issued on April 13, 2007; $750,000 Secured Convertible Debenture issued on June 26, 2007; $1,000,000 Secured Convertible Debenture issued on August 31, 2007; and $1,500,000 Secured Convertible Debenture issued on September 26, 2007.
