Collateral

• Charge all equipment only?

  Charge all equipment only
• Charge all inventory only?

  Charge all inventory only?
• Charge all invoices only?

  Charge all invoices only?

General

Lender

Borrower

LOAN AGREEMENT

DATED {{Effective Date}},

BETWEEN:

{{Borrower Name}} ({{Borrower Name Abbrv}}), whose address on the Ethereum network is {{Borrower Ethereum Address}}.

-and-

{{Lender Name}}, (the "Lender"), whose address on the Ethereum network is {{Lender Ethereum Address}}.

WHEREAS {{Borrower Name Abbrv}} has requested, and the Lender has agreed to in advance, funds from time to time to {{Borrower Name Abbrv}} as a loan;

AND WHEREAS the parties have agreed to enter into this agreement (the "Agreement") to set out the terms of such loan;

NOW THEREFORE, in consideration of the premises and the covenants and agreements herein contained, the parties agree as follows:

Facility

1. The principal amount due hereunder will bear interest at an annual rate of {{Interest Rate in Words}} percent ({{Interest Rate Basis Points}} basis points) per annum. Interest, as aforesaid, will accrue from and including the date of each advance until the Maturity Date on the principal outstanding from time to time with interest on overdue interest at the same rate.

2. Unless otherwise stated, wherever in this Agreement reference is made to a rate of interest "per annum" or a similar expression is used, such interest is calculated on the basis of a year of 365 days or 366 days, as the case may be, using the nominal rate method of calculation, and not calculated using the effective rate method of calculation as on any other basis that gives effect to the principle of deemed re-investment of interest.

3. For the purposes of this Agreement, whenever interest to be paid hereunder is to be calculated on the basis of 360 days or any other period of time that is less than a calendar year, the yearly rate of interest to which the rate determined pursuant to such calculation is equivalent is the rate so determined multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided by 360 or such other number of days in such period, as the case may be.

4. Notwithstanding anything contained herein to the contrary, {{Borrower Name Abbrv}} will not be obliged ot make any payment of interest or other amounts payable to th Lender hereunder in excess of the amount or rate that would be permitted by applicable law or would result in the receipt ty the Lender of interest at a crimial rate (as such terms are construed under the Criminal Code (United States). If the making of any payment by {{Borrower Name Abbrv}} would result in a payment being made that is in excess of such amount or rate, the Lender will determine the payment or payments that are to be reduced or refunded, as the case may be, so that such result does not occur.

Purpose of Credit Facility

Nature of Credit Facility

Payment Terms

5. Interest will be paid monthly in arrears on the first day of each and every month, commencing on the first day of the month after the month of the first advance hereunder. Each monthly interest payment will be based on the principal amount that is outstanding for the prior month.

6. {{Borrower Name Abbrv}} shall have the right at any time to prepay all or any of the principal amount without the consent of the Lender, without notice, and without penalty.

Place of Payment

7. Any payment to be made hereunder will be made at the address of the Lender set out herin, or at such other place to be designed in writing by the Lender.

Events of Default

8. The occurrence of any one or more of the following events (each such event being referred to as an "Event of Default") will constitute a default under this Agreement:

(a) if {{BorrowerName}} fails to make payment of any principal, interest, or any other amount owing under this Agreement when due, and such default is not cured and continues for a period of 3 Business Days (as defined below after written notice of such default is given by the Lender to {{BorrowerName}} specifying the default and requring {{BorrowerName}} to rectify the default;

(b) If {{BorrowerName}} fails in the observance or performance of anything required to be done by {{BorrowerName}}, or any covenant or condition required to be ovserved or performed by {{BorrowerName}}, pursuant to this Agreement or the Security Agreement and that default continues for a period of 3 Business Days after a ntice in writing has been given by the Lender to {{BorrowerName}} specifying the default and requiring {{BorrowerName}} to rectify the same.

(c) if {{BorrowerName}} ceases or threatens in writing to cease to carry on its business or commits any act of bankruptcy or becomes bankrupt or goes into liquidation or becomes insolvent or makes or agrees to make a bulk sale of its assets or makes a general assignment for the benefit of its creditors or otherwise acknowledges its insolvency;

(d) if a bankruptcy petition or similar proceeding is filed or presented against {{BorrowerName}} and is not contested in good faith or discharged within 3 Business Days;

(e) if a custodian or sequestrator or liquitator or trustee in bankruptcy or a receiver or receiver and manager or any other officer with similar powers is appointed with respect to {{BorrowerName}} or all or any part of the property, assets or undertaking of {{BorrowerName}};

(f) if {{BorrowerName}} makes a proposal under the Bankruptcy laws or other legislation of the region respecting bankruptcy and insolvency or takes any action in respect of the settlement of any claims of its creditors under the provisions of the legislation;

(g) if any proccedings against {{BorrowerName}} are taken with respect to a compromise or arangement under regional and national laws or similar legislation ofany other jurisdiction this will activate the penalties of this contract.