Loan Agreement Dated as of June 23, 2009Loan Agreement • June 25th, 2009 • Hotel Outsource Management International Inc • Retail-miscellaneous retail
For any sums that may be payable by Lender in the Rights Offering, in respect of shares which Lender may subscribe for in such Rights Offering, up to the total amount then owed by Borrower to Lender under this Agreement, Lender, or Borrower, may elect, by written notice to the other, that such sums be offset against the outstanding balance of the Loan and accrued Interest then owed to Lender.
Loan Agreement Dated as of June 23, 2009Loan Agreement • June 25th, 2009 • Hotel Outsource Management International Inc • Retail-miscellaneous retail
For any sums that may be payable by a Lender in the Rights Offering, in respect of shares which such Lender may subscribe for in such Rights Offering, up to the total amount then owed by Borrower to such Lender under this Agreement, such Lender, or Borrower, may elect, by written notice to the other, that such sums be offset against the outstanding balance of the Loan and accrued Interest then owed to such Lender.
