Exhibit 10.6
Serial number of the loan
280899
Account number
(Foreign currency loan-with Libor interest plus an increment that is fixed every
year)
A LOAN RECEIPT REQUEST DOCUMENT
Date: 9.8.01
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To
The Bank for the Development of the Industry in Israel Ltd
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1. Within "The Agreement for General Business Terms", we ask you to provide
us with a loan in the amount of 101,535 (one hundred and one thousand five
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hundred thirty five) Dollar (herein-"the Loan").
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2. a. The principal of the loan shall bear an interest (that will be
calculated on the unpaid balance from time to time of the principal of the
loan) in an annual amount equal to the amount of the Libor (as fixed-in
regard to every "interest term"- as stated in the "The Agreement for
General Business Terms") plus an increment as follows:
i. During the first year of the loan the increment (above the Libor)
will be 2% (two percent).
ii. During every other year of the loan (after the first year of the
loan) the increment (above Libor) will be that amount that will
be set by you for that year, at that increment (set by you as
said above) could be higher from the increment mentioned above
for the first year. Before the beginning of every year of the
loan as said above you will give us a written notice on the
increment as set by you for that year.
b. In this document:
- The first year of the loan will be regarded as starting in the
date the loan will be provided and ending in the last day before
"the date for interest payment" falling a year later while every
other year of the loan will be regarded as starting on the day
immediately following the day on which ended the previous year
and as ending on the last day before the "date of interest
payment" that falls a year later.
- As "the date of interest payment" that occurs one year after a
certain day will be regarded "the date of interest payment" that
is nearer (including before or after) to the date on which a year
passed since that certain day.
c. The interest on the principal of the loan - as its percentage will be
from time to time as stated above - will be calculated for every
"interest period" according to the number of days included in fact in
each such term, with the interest rate as stated above is divided by a
basis of 360 (three hundred and sixty) days a year.
d. You will be the sole one to determine for every interest calculation
on the principal of the loan, and your determinations will obligate us
according to every law or deed.
3. a. The interest on the principal of the loan (in its percentage as it
will be determined from time to time as stated above and calculated as stated
above) will be paid by you (separately from the payments on return of the
principal) as follows:
- - every month, each time on the 9 of the month' starting from the
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9.9.2001 and forward.
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- - [Here two sections present alternatives to the terms of interest payments
that were not exercised in our case.]
b. The dates upon which we have to pay you the interest as stated above will
be called in this document - "the dates of interest payment".
c. The interest will be paid to you by us as stated above in each of the dates
of interest payments (in this subsection below - "the date of current
payment")
- - except the first among them - for the period that starts on the date of the
last interest payment that preceded the current interest payment and
finishes on the day that occurs immediately prior to the current interest
payment, as to the first among them (and if it was set above only one
interest payment date then on that sole date) for the period that starts on
the date of the granting to us of the loan and ends on the day that occurs
immediately prior to it. Every period as stated above will be called in
this document - "interest period".
4. The principal of the loan will be paid to you by us, as follows:
- - In 36 (thirty six) monthly payments, equal (more or less) and continuous,
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which will be paid by us each time on the 9th day of the month, starting
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from August 9, 2002 and ending on August 9, 2005.
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- - [Here three sections present alternatives to terms of principal payments
that were not exercised in our case.]
You will be the sole deciders as to the amount of each payment and payment
from the payments mentioned in this section above.
5. We will not be entitled to pay the principal of the loan and/or the
interest of it before the payment terms set in this document above.
6. [Not exercised in our case.]
7. We ask you to grant us the loan by:
- - [Here two sections present alternatives to terms of principal payments
that were not exercised in our case.]
- - The loan comes instead of loan number 32-28089-01-4
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8. In addition to the interest, we will pay you for the loan also handling
fees. The handling fees will be in an annual amount of 0.1% from the
unsettled balance of the loan and they will be paid to you by us twice a
year, on the same dates that will be customary with you from time to time,
and also in the date set to the payment of the last payment on account of
the principal of the loan. In each of the payment dates mentioned above (in
this section - "the date of current payment") - except the first among them
- the handling fees will be calculated in their annual amount mentioned
above on the unsettled balance of the principal of the loan from time to
time in the period that starts on the on the last payment date that
preceded the date of current payment, while in the date of the first
payment (that that will occur first after the granting of the loan) they
will be calculated on the unsettled balance from time to time of the
principal of the loan in the period that starts on the date of the granting
of the loan and ends on the day the occurs immediately prior to the date of
first payment.
9. [Not exercised in our case.]
10. [Not exercised in our case.]
11. [Not exercised in our case.]
12. To secure the payments of all the amounts (including principal, interest
and linkage differences) that you will have coming from us because of the
loan (hereafter - "the above amounts") will serve all "the customers
collaterals" as defined in the "agreement for general business terms". [The
rest of the section was not exercised in our case.]
To remove any doubt it is clarified here that in what was stated above
there is nothing to restrict in any way the application of the above
collaterals to the above sums only and the above collaterals will secure
(unless in the documents by which they were created it was stated
explicitly otherwise and/or you explicitly agreed in writing otherwise)
without limitations, also the settlement of all other "debt amounts" (as
defined in the "agreement of general terms") that are due and/or will be
due to you from us.
13. On the loan will also apply the provisions of "the general business terms"
and this provisions will be an integral part of this agreement.
14. In this document above "the agreement for general business terms" means the
agreement under this name that was contracted between us and you, and if it
was not contracted than the agreement known with you as "the agreement of
general business terms", in its wording and terms that apply with you at
the time of the signing this document by us.
15. Please approve, by signing on this document, your acceptance of our
request.
16. a. Our signing of this document is an obligation by us to you to execute
and comply with all that is mentioned in it.
b. [Not applicable in our case.]
17. other terms: none.
Sincerely
Signature + Stamp: Voice Diary Ltd
Signed by Shmuel Bachar, Arie Hinkis, Ran Eckhaus
We approve:
The Bank for the development of the industry in Israel Ltd.
I, Arie Hinkis, that is securing the debts of Voice Diary to the bank, agree and
confirm this arrangement (all within the height of the amounts quoted in my
security.)
[Signed by Arie Hinkis]