Exhibit 10.105

 

DATED 15 AUGUST 2007
 
AURACALL LIMITED (1)
- and -
SWIFTNET LIMITED (2)
____________________________
 
INTER COMPANY LOAN AGREEMENT
____________________________

 
HOWARD KENNEDY
19 Cavendish Square
London W1A 2AW
 
DX 42748 Oxford Circus North
telephone  +44(0)20 7636 1616
fax +44 (0)20 7491 2899
Ref : 007449/00010/H3146099.3
 
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THIS AGREEMENT is made the 15 August 2007

BETWEEN:

(1)
AURACALL LIMITED a company incorporated and registered in England and Wales with
company number 04308459 and whose registered office address is c/o Ingle Shamash
& Co, 12-13 Conduit Street, London W1S 2XQ, United Kingdom (the “Lender”); and

(2)
SWIFTNET LIMITED a company incorporated and registered in England and Wales with
company number 02469394 whose registered office is at Britannia House, 960 High
Road, London N12 9RY, United Kingdom (the “Borrower”)

WHEREAS

The Lender has agreed to lend the sum of the Loan to the Borrower for the sole
purpose of and in connection with the Borrower acquiring the 987 ordinary shares
of the Lender held by Dan Kirschner pursuant to the share purchase agreement to
be entered into between Dan Kirschner (1), Swiftnet Limited (2) and Xfone, Inc.
(3) on the date hereof.

IT IS HEREBY AGREED AS FOLLOWS:

1.
The Lender will make available the sum of £850,000 (the “Loan”) to the Borrower
for the purpose specified in the recitals above.

2.
Unless otherwise agreed between the Lender and the Borrower, the Loan shall be
unsecured and repayable on demand but shall be repaid in any event no later than
15 August 2012 (the “Final Repayment Date”).

3.
The Loan shall bear interest at a fixed rate of 5% per annum (the “Rate")
calculated and payable in arrears.

4
Interest on the outstanding balance will be calculated and accrue on a daily 365
day year basis at the Rate and will be added to the balance of the Loan and
compound on each anniversary of drawdown of the Loan. On repayment of the Loan
interest will be calculated from the last date that interest was added to the
Loan to the date of repayment.  The Borrower is not required to pay the interest
on an ongoing basis and the accrued interest is to be repaid on repayment of the
Loan following a demand being made in accordance with the provisions of Clause 2
or on the Final Repayment Date.

5.
The Borrower may voluntarily repay the Loan at any time in full or in part
without charge or penalty.  Any such repayments may not be redrawn.

6.
All and any payments of the Loan are to be made by the Borrower without set off
or counterclaim and free and clear of any and all deductions, including (without
limitation) withholding taxes.  If the Borrower is compelled by law or
regulations to deduct any such amount the amount payable hereunder will be
automatically increased so that the net amount after allowing for such deduction
would be equal to the amount which would have been payable if no such deduction
had arisen.

7.
All legal costs and fees, together with all other costs and expenses incurred by
the Lender in the arrangement of the Loan, during its term or in obtaining
repayment thereof, shall be for the account of the Borrower and shall be paid by
the Borrower on demand.

8.
No term of this Agreement shall be enforceable by virtue of the Contracts
(Rights of Third Parties) Act 1999 by any person who is not a party to this
Agreement.

9.
This Agreement is governed by the laws of England and Wales and the parties
submit to the exclusive jurisdiction of the High Court of England and Wales.

 
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IN WITNESS whereof this Agreement has been executed by the parties on the day
and year first before written.
 
Signed as a DEED by
)
 
AURACALL LIMITED
)
 
acting by two directors or a director and
)
/s/ Abraham Keinan
secretary
)
ABRAHAM KEINAN
 
 
………………………………  
 
Director        
 
/s/ John Burton  
 
JOHN BURTON  
 
 ………………………………  
 
Director      
Signed as a DEED by
)
 
SWIFTNET LIMITED
)
 
acting by two directors or a director and
)
/s/ Abraham Keinan
secretary
)
ABRAHAM KEINAN
 
 
 ………………………………  
 
 Director        
 
 /s/ John Burton  
 
 JOHN BURTON  
 
 ………………………………  
 
Director

 
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