Exhibit 10.6
TRANSLATION FOR CONVENIENCE ONLY
ATTN: | Shamir Optica Avran Adar, Accountant Amir Hai, CFO |
FROM: | Kibbutz Shamir—Efrat Cohen, CFO |
Dear all,
RE: Financing the Extension of Premises—Loan Payment
With respect to the founders' agreement, Shamir Optics financed the extension of the premises of the plant. The repayment of the loan shall be deducted from the rental fees.
The loan will be repaid in quarterly equal installments over 4 years. The loan will bare a yearly interest of 1.5% and will be US Dollar-linked.
Regrads,
Efrat Cohen,
CFO
Loan schedule for Client 00160—Loan No. 00794
Client Name | Shamir | Duration of loan | 18 month | |||||||
Annual Interest | 1.50% | Loan type | Long term | |||||||
Fund linking | 100% | Index Currency | US Dollar | |||||||
Interest linking | 100% | |||||||||
Date of Loan | 31.12.2004 | |||||||||
1st Fund Pmt | 31.3.2005 | |||||||||
1st Interest Pmt | 31.3.2005 | |||||||||
Total loan | 3,700,000.00 | |||||||||
Base Index | 5% |
Pmt No. | Pmt Date | Fund | Interest | Total | Balance | |||||
---|---|---|---|---|---|---|---|---|---|---|
1 | 31.3.2005 | 23,125.00 | 1,387.50 | 24,512.50 | 346,875.00 | |||||
2 | 30.6.2005 | 23,125.00 | 1,300.78 | 24,425.78 | 323,750.00 | |||||
3 | 30.9.2005 | 23,125.00 | 1,214.06 | 24,339.06 | 300,625.00 | |||||
4 | 30.12.2005 | 23,125.00 | 1,127.34 | 24,252.34 | 277,500.00 | |||||
Total | 92,500.00 | 5,029.88 | 97,529.68 | |||||||
5 | 30.3.2006 | 23,125.00 | 1,040.63 | 24,165.63 | 254,375.00 | |||||
6 | 30.6.2006 | 23,125.00 | 953.91 | 24,078.91 | 231,250.00 | |||||
7 | 30.9.2006 | 23,125.00 | 867.19 | 23,992.19 | 208,125.00 | |||||
8 | 30.12.2006 | 23,125.00 | 780.47 | 23,905.47 | 185,000.00 | |||||
Total | 92,500.00 | 3,642.20 | 96,142.20 | |||||||
9 | 30.3.2007 | 23,125.00 | 693.75 | 23,818.75 | 161,875.00 | |||||
10 | 30.6.2007 | 23,125.00 | 607.03 | 23,732.03 | 138,750.00 | |||||
11 | 30.9.2007 | 23,125.00 | 520.31 | 23,645.31 | 115,625.00 | |||||
12 | 30.12.2007 | 23,125.00 | 133.59 | 23,258.59 | 92,500.00 | |||||
Total | 92,500.00 | 1,954.68 | 94,454.68 | |||||||
13 | 30.3.2008 | 23,125.00 | 346.88 | 23,471.88 | 69,375.00 | |||||
14 | 30.6.2008 | 23,125.00 | 260.16 | 23,385.16 | 46,250.00 | |||||
15 | 30.9.2008 | 23,125.00 | 173.44 | 23,298.44 | 23,125.00 | |||||
16 | 30.12.2008 | 23,125.00 | 86.72 | 23,211.72 | ||||||
Total | 92,500.00 | 867.20 | 93,367.20 | |||||||
Total Loan | 370,000.00 | 11,493.76 | 381,493.76 |
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