Mr. William Smith Teckn-O-Laser Company Teckn-O-Laser Global Company Adsero Corp Tecknolaser USA inc. Sainte-Julie (Québec) J3E 1Z8 Re: Standstill Agreement Dear Mr. Smith:Standstill Agreement • February 14th, 2006 • Adsero Corp • Computer & office equipment • Quebec
WHEREAS according to the terms and conditions set out in the letter of offer dated and signed on December 23, 2004, National Bank of Canada (“NBC”) agreed to grant to Teckn-O-Laser Company (“Teckn-O-Laser”) credit facilities in the total amount of $ 3,800,000 (said letter of offer if and as subsequently modified is hereinafter designated as the “Letter of offer”);
