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Document Preview Letter Re: Bridge Loan |
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Title: |
Letter Re: Bridge Loan |
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Entities: |
Nation Energy, Inc.; John Hislop; Nation Energy Inc. |
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Date: |
2004 |
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Size: |
3KB total |
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Price: |
$36 |
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ID: |
#191860 |
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Nation Energy Inc.
1736 E. Charleston Boulevard
Suite 725
Las Vegas, NV 89104
U.S.A.
August 1, 2003
TO: John Hislop
1589 Marpole Avenue
Vancouver, BC V6J 2R9
Dear John:
Re: Bridge Loan
This letter will serve to confirm our agreement wherein, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, you have agreed to loan $500,000 (the Loan) to Nation Energy Inc. (the Company) on the following terms and conditions:
1. The principal amount of the Loan, together with accrued interest, shall be due and payable on demand.
2. The Loan shall bear interest at 15% per annum and shall be payable quarterly in arrears.
3. The obligations of the Company will be evidenced by a promissory note in the form attached hereto.
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