Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - FC Financial Services Inc.- Exhibit 10.17

CONSULTANCY AGREEMENT executed at Montreal, Quebec, this 1st
day of March, 2006

	BETWEEN: 	ICP Solar Technologies Inc., a corporation constituted
      under the laws of Canada, having its head office in the city of Montreal,
      Quebec, duly represented herein by Sass Peress, President & CEO, duly
      authorized to do so as he declares, 
	 	 
	
	(Hereinafter referred to as “ICP”
      or the “Company”)

    

	AND:	6100864 Canada Inc. a corporation constituted under
      the laws of Canada, having its head office in the city of Montreal, 

      Quebec, duly represented herein by Joel Cohen, President duly authorized
      to do so as he declares 
	 	 
	
	(Hereinafter referred to as the “Consultant”)

    

WHEREAS the Company wishes to
  retain the Consultant, hereby accepting, to provide certain services, on a consulting
  basis, on the terms and conditions set forth herein;

BOTH PARTIES HAVE AGREED AS FOLLOWS:

	1. 	
      TERM

	 	 
	1.1 	
      This Agreement has been entered into for a two year
      period of time commencing on March 1, 2006, the whole subject to the terms
      and conditions set out herein below.

	 	 
	2. 	
      SERVICES

	 	 
	2.1 	
      The Company hereby retains the Consultant, who hereby
      agrees, to provide the services described in Schedule A (the
      “Services”).

	 	 
	2.2 	
      The Consultant shall use his best efforts, skill, energy
      and attention in the performance of the Services and shall perform same
      act in accordance with the usual practices and rules of
  art.

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	2.3 	
      In carrying out his duties hereunder, the Consultant
      shall interact and liaise with the CEO and executives of the
    Company.

	 	 
	2.4 	
      Throughout the term of this Agreement, the Consultant
      shall comply with all applicable requirements of law in the performance of
      the Services and shall obtain and continue to hold, at his own expense,
      all permits, registrations and other authorizations required to permit the
      Consultant to provide the Services in compliance with the provisions
      hereof.

	 	 
	2.5 	
      The Consultant is an independent contractor. No relation
      of subordination exists between the Consultant and the Company and the
      Consultant is not and will not become or be considered an employee of the
      Company.

	 	 
	2.6 	
      The Consultant shall not represent himself to be an
      agent, mandatory or employee of the Company or to be related to the
      Company, other than as an independent contractor or consultant of the
      Company in accordance with the terms hereof. The Consultant shall have no
      authority to bind the Company, nor to enter into any contracts or
      agreements on behalf of the Company, and any such contracts or agreements
      entered into by the Consultant, shall be the sole and entire
      responsibility of the Consultant.

	 	 
	2.7 	
      This Agreement is non-exclusive for both parties. Subject
      to the provisions of this Agreement, the Company may engage other
      consultants to provide the same services as the Consultant and the
      Consultant shall be free to provide consulting services to other
      parties.

	 	 
	2.8 	
      The Consultant hereby warrants and represents that none
      of his commitments or obligations to any other client shall preclude him
      from entering into this Agreement or from performing the
Services

	 	 
	2.9 	
      The Consultant will not originate any publicity, news
      releases or other public announcements of any nature regarding the
      Company, whether written or oral, without the prior written consent of the
      Company.

	 	 
	3. 	
      COMPENSATION

	 	 
	3.1 	
      In consideration of the Services performed by the
      Consultant hereunder, the Company agrees to pay to the Consultant a
      consulting fee in the amount of $8,000 per month plus all applicable GST
      and PST payable in respect of such fee (the “Fee”). The Fee shall be paid
      to the Consultant, in lawful currency of Canada, on the 15 day of every
      month following service.

	 	 
	3.2 	
      The Consultant covenants and agrees that he shall solely
      be responsible for the payment, deduction and remittance of any and all
      taxes, fees, charges, contributions, assessments, interest and/or
      penalties of whatever nature or kind, including without restriction,
      income taxes, sales taxes and goods and
services

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taxes, in respect of the payment of the
consulting fees and any other benefits hereunder.

	3.3 	
      The Company agrees to grant to the Consultant options, to
      acquire the common stock of the Company under the same terms and
      conditions as the employee stock option plan which the Company plans to
      institute in the near future.

	 	 
	3.4 	
      The Company shall arrange and pay for the Consultant’s
      travel when same is required for the Consultant to perform his duties in
      accordance with Schedule A of this Agreement.

	 	 
	3.5 	
      The Company agrees to indemnify the Consultant in
      accordance with the provisions of its by-laws, as such provisions may be
      expanded from time to time.

	4. 	
      LIABILITY

	 	 
	4.1 	
      The Consultant undertakes to indemnify, and save harmless
      the Company in respect of:

	 	(a) 	
      Any claim, charge, tax, penalty, interest, fine,
      assessment or demand by any statutory body of any country or province for
      any withholdings, charge, tax, assessment, contribution, fee, deduction or
      amount which, according to said entities, ought to have been paid or
      withheld on or in respect of any amount paid under the present
      Agreement.

	5. 	
      CONFIDENTIALITY

	 	 	 
		
      The Consultant acknowledges that, in the course of his
      consulting with the Company and previously with ICP, he had and will
      continue to have access to and be entrusted with confidential and
      proprietary information and trade secrets of or relating to the Company,
      which information is not part of the public domain, and which the Company
      has a legitimate interest in protecting. Such information and trade
      secrets include, but are not be limited to the following:

	 	 	 
		(a) 	
      the identity of the Company’s clients; the Company’s
      client lists; the products and/or services offered or provided to the
      Company’s clients, the prices charged for such products or services; the
      volume of sales made to such clients, the particular needs of such
      clients; and the methods or arrangements implemented by the Company or any
      Member thereof to service or do business with such clients;

	 	 	 
		(b) 	
      the identity of the Company’s suppliers; lists of
      suppliers; the products and/or services purchased from such suppliers, the
      prices paid to such suppliers, and the financial or other particular
      arrangements made between such suppliers and the Company or any Member
      thereof;

- 4 -

	 	(c) 	
      the identity of the Company’s employees, the list(s) of
      employees of any Member of the Company, the salary, remuneration, other
      employment benefits and/or training provided to such employees;

	 	 	 
	 	(d) 	
      any information concerning the actual or planned
      creation, production, development, marketing, sale, distribution and/or
      licensing of any products or services by the Company or any Member
      thereof;

	 	 	 
	 	(e) 	
      any technique, process, method of doing business, or
      sales, marketing, product development or business plans or strategies,
      surveys, designs, inventions or other intellectual property of the Company
      or any Member thereof, including all antecedent derivative works;
    and

	 	 	 
	 	(f) 	
      any information concerning the financial affairs of the
      Company or any Member thereof and any negotiations, licensing or other
      business agreements between any Member of the Company and third
      parties.

(hereinafter referred to collectively
as “Confidential Information”). The Consultant acknowledges and agrees that the
foregoing are only examples of the types of trade secrets, confidential and
proprietary information that will be made known to him by reason of his
consulting with the Company, and are not to be construed as an exhaustive list
of such information. It is also understood that the term “Confidential
Information” does not include information which is or becomes generally known to
the public without any breach by the Consultant of his obligations hereunder or
any fault on the part of the Consultant or which is already in the possession of
the Consultant at the time of disclosure to the Consultant by the Company.

The Consultant covenants and agrees
that, during the term of the present Agreement, and at all times subsequent to
the termination of such Agreement, for whatever reason, whether voluntary or
involuntary, he shall not, directly or indirectly, in any manner or for any
purpose whatsoever, except for the business purposes of the Company and as may
be reasonably required in the normal and loyal performance of his consulting
duties hereunder or unless and to the extent he is specifically required to do
so by Court order, use, copy or reproduce or allow to be used, copied or
reproduced any Confidential Information or disclose, transmit, transfer or
communicate or allow to be disclosed, transmitted, transferred or communicated
any Confidential Information to any person, firm, business, corporation,
partnership, joint venture, syndicate, association, governmental organization or
authority, or any other type of entity or group, endowed or not with juridical
personality.

The Consultant acknowledges and agrees
that the Confidential Information, and all materials, documents, files and
records relating thereto, are and shall remain the exclusive property of the
Company and the other members of the Company, as the case may be.

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The Consultant covenants and agrees
that, upon the request of the Company and, in any event, upon the termination of
the present Agreement, for whatever reason, whether voluntary or involuntary, he
will return to the Company immediately, without making or keeping any copies or
reproductions thereof, in whatever form, all Confidential Information, however
captured, stored or recorded, as well as all materials, documents, files,
records, diskettes, notebooks, and other property of the Corporation which are
in his possession, or under his custody or control.

	 6.	INTELLECTUAL
      PROPERTY
	 	 	 
	 	(a) 	
      any inventions and improvements thereon, processes,
      information, data, reports, specifications or other materials prepared,
      made, conceived and /or compiled by the Consultant specifically in the
      performance of the Services (collectively the “Inventions”), shall be the
      property of the Company exclusively and shall be maintained in confidence
      by the Consultant;

	 	 	 
	 	(b) 	
      the Consultant agrees to and does hereby assign to the
      Company or any person or organization designated in writing by Company, at
      no additional consideration other than the consideration for this
      Consulting Agreement, and without any limitation whatsoever, all of
      Consultant’s rights, title and interest in any Inventions made in the
      direct performance of the Services by the Consultant under this Consulting
      Agreement, whether conceived and/or reduced to practice either solely or
      jointly with others. Further, the Consultant hereby waives, without any
      limitation whatsoever, to the benefit of the Company, its successors,
      assigns and licensees any moral rights which he may have with respect to
      the Inventions for the term of such right. In addition, the Consultant
      agrees to render all assistance reasonably requested by the Company in
      order to enable Company to file, obtain and enforce any Letters Patent,
      whether foreign or domestic on said invention, including the execution of
      such papers and documents as may be necessary to obtain patents in Canada
      and abroad, and in order to assign and convey to the Company the sole and
      exclusive right, title and interest in and to such Inventions,
      applications and patents and the Consultant shall otherwise provide full
      cooperation to the Company in obtaining those patents in which the
      Consultant is named as an inventor or co-inventor, even though such
      cooperation may be required to take place at a time following the
      expiration and/or termination of this Agreement. The Company agrees to
      promptly reimburse Consultant for all reasonable expenses incurred by him
      in providing the assistance required by this paragraph upon the submission
      to Company of an itemized statement of such expense;
and

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	 	(c) 	
      The Consultant shall promptly inform and disclose to the
      Company all inventions, improvements, processes, applications, data and/or
      other information made, conceived and/or compiled by him in connection
      with the Services during the term of this
Agreement.

	7. 	
      NON-COMPETITION AND NON-SOLICITATION
      COVENANTS

	 	 	 
	7.1 	
      The Consultant expressly covenants and agrees that,
      during the term of the present Agreement and for a period of twelve (12)
      months from the date on which such Agreement terminates, for whatever
      reason, whether voluntary or involuntary, he will not, directly or
      indirectly:

	 	 	 
		(a) 	
      anywhere in North America, engage in, whether as a sole
      proprietor, partner, shareholder or in any other proprietary capacity
      whatsoever, or provide support and/or assistance in any other form
      whatsoever, to any person, firm or corporation engaged in developing,
      manufacturing, licensing, marketing or distributing any Competitive
      Product; provided that investments in securities representing less than
      10% of the voting securities of any entity the shares of which are
      publicly traded shall not be deemed a violation of this subparagraph
      a);

	 	 	 
		(b) 	
      anywhere in North America, be employed by, act as a
      consultant or adviser to, or be the agent or representative of any person,
      firm or corporation engaged in developing, manufacturing, licensing,
      marketing or distributing any Competitive Product.

	 	 	 
		(c) 	
      solicit or attempt to solicit any customer or entice any
      such customer of the Company to cease dealing with the Company, in all
      such cases with a view to giving, selling or providing to such customer
      any products or services similar to the products or services sold or
      provided by the Company at the time of the cessation of his consulting
      services hereunder;

	 	 	 
		(d) 	
      solicit, induce, or otherwise persuade any executive,
      employee or consultant of the Company to terminate his employment or
      consulting relationship with the Company or to cease providing services to
      the Company.

	 	 	 
	7.2 	
      In the event that in any legal proceedings before a
      competent tribunal in any jurisdiction, it is determined that either of
      Sub-sections a), b), c) or d) of Section 7.1 above, or any part of the
      said Sub-sections, is invalid with respect to any particular transaction,
      that Sub-section or part thereof shall be deemed to be severed from this
      Agreement for the purposes only of the particular legal proceedings in
      question, and the said Sub-section shall, in every other respect, continue
      in full force and effect.

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	8. 	
      VIOLATION

	 	 
	8.1 	
      The Consultant hereby agrees that the restrictions in the
      foregoing sections and paragraphs are reasonable and necessary in order to
      permit the Company to adequately protect its legitimate interests and
      competitive position in the marketplace.

	 	 
	8.2 	
      The Consultant acknowledges that, in the event of any
      breach by him of any of his obligations under sections 5, 6 and 7 above,
      such breach shall cause the Company serious and irreparable harm and that
      injunctive relief will be necessary in such event, without prejudice to
      any other recourses or remedies available to the Company.

	 	 
	9. 	
      GENERAL

	 	 
	9.1 	
      The Consultant acknowledges that this Agreement is a
      contract by mutual agreement which has been negotiated and discussed
      between the parties and entered into as a result thereof.

	 	 
	9.2 	
      Each and every term, condition and provision of this
      Agreement is and shall be severable one from the other, and in the event
      that any term, condition or provision hereof is at any time declared by a
      court of competent jurisdiction to be void, invalid or unenforceable, same
      shall not extend to invalidate, make void or make unenforceable any
      condition or provision of this Agreement, and such term, condition or
      provision so declared to be void, invalid or unenforceable shall be
      severed from the rest of this Agreement.

	 	 
	9.3 	
      The terms of the present Agreement may in the future be
      amended, but only by a written document which is signed by both the
      Consultant and, on behalf of the Company, by a duly authorized officer. No
      waiver of any breach of any provision of this Agreement shall be effective
      or binding unless made in writing and signed by the party purporting to
      give the same and, unless otherwise provided in the written waiver, shall
      be limited to the specific breach waived.

	 	 
	9.6 	
      This Agreement shall be binding upon and shall enure to
      the benefit of the parties hereto, their respective successors, legal
      representatives and permitted assigns.

	 	 
	10. 	
      TERMINATION

	 	 
	10.1 	
      Subject to Sections 10.2 and 10.3 below, either party may
      terminate this Agreement by giving to the other twelve (12) months’ prior
      written notice. If this Agreement is terminated by the Consultant under
      this Section 10.1, the Company shall retain the right to waive such
      notice, in whole or in part. If the Company terminates this Agreement in
      accordance with this Section 10.1, it may, instead of providing such
      notice, provide the Consultant with an indemnity representing
  the

- 8 -

amount of consulting fees that would
have been paid during the notice period, or with a combination of notice and
indemnity covering the same period.

	10.2 	
      Notwithstanding the provisions of Section 10.1 above, the
      Company may terminate this Agreement at any time for cause, without prior
      notice or any indemnity in lieu thereof. For the purposes of this Section
      10.2, the term “cause” shall include, but shall not be limited to, the
      Consultant’s inability to provide the Services, dishonesty, theft,
      conviction for a felony or crime of moral turpitude, a material breach of
      this Agreement, and the Consultant’s failure to perform the Services as
      required by this Agreement or his failure to correct such deficiency
      within thirty (30) days’ written notice to such effect from the
      Company;

	 	 	 
	10.3 	
      Upon any termination of this Agreement, whether by the
      Consultant or the Company:

	 	 	 
		a) 	
      subject to any payments required if the Company
      terminates this Agreement under Section 10.1 above, the Company will be
      required to pay the Consultant only for work performed through to the date
      of termination;

	 	 	 
		b) 	
      the Consultant shall continue to be bound by his
      obligations to the Company which are intended to survive the termination
      of this Agreement, including notably his obligations under Sections 5, 6
      and 7 of this Agreement;

	 	 	 
		c) 	
      the Company shall continue to be bound by the terms of
      Section 3.5 of this Agreement.

	11. 	
      APPLICABLE LAW

	 	 
	11.1 	
      This Agreement shall be governed and construed in
      accordance with the laws of Province of Quebec.

	 	 
	12. 	
      NOTICE

	 	 
	12.1 	
      The addresses of the parties for notice purposes are as
      follows :

	 	ICP SOLAR TECHNOLOGIES INC. 
	 	7075 Place Robert-Joncas, Unit 131 
	 	Montreal, Quebec 
	 	H4M 2Z2 	  
	 	  	  
	 	Attention: 	Sass Peress, President & CEO 
	 	  	  
	 	  	  
	 	6100864 Canada Inc.

- 9 -

19 Le Royer West Suite
304
Montreal, Quebc 
H2Y 1W4

Attention: Joel Cohen, President

Or such other address as may be given
by either party to the other in writing from time to time, all notices shall be
sent by registered mail postage prepaid or by personal delivery;

	13. 	
      LANGUAGE

	 	 
	13.1 	
      La présente convention a été rédigée en anglais à la
      demande des parties. This agreement has been drawn in English at the
      request of all parties.

IN WITNESS WHEREOF the parties have duly signed this Agreement
in two (2) counterparts on the 1 day of March 2006.

ICP SOLAR TECHNOLOGIES INC.

/s/ Sass
Peress
_____________________________
Per: Sass Peress

6100864 Canada Inc.

/s/ Joel
Cohen
_____________________________
Per :Joel Cohen

SCHEDULE A

THE SERVICES

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  The Consultant agrees to perform the following services:

  	Assist in strategic financial planning 

      

    
	Oversee general corporate governance 

      

    
	Oversee general accounting 

      

    
	Oversee the preparation of budgets and financial statements 

      

    
	Assist in financial statement audits 

      

    
	Oversee the preparation of and filing of regulatory documents for the
      CompanyFiled by Automated Filing Services Inc. (604) 609-0244 - FC Financial Services Inc. - Exhibit 10.20

 

		
RBC 
Royal Bank 	
	 	 	  
	 	 	  
	 	 	Royal Bank of Canada 
	 	 	St. Laurent Business Banking Centre 
	 	 	3900 Cöte-Vertu, Suite 101 
	 	 	5t. Laurent, QC  H4R 1V4
  
	 	 	Tel.: 514 856.8600 
	 	 	Fax: 514 856.8655

May 6, 2005

Private and Confidential

ICP GLOBAL TECHNOLOGIES INC. 
6995 Jeanne Mance 
Montreal
(Qc) H3N 1W5

Dear Sirs;

We are pleased to offer the credit facilities described below
  (the "Credit Facilities"), subject to the following terms and conditions.

DEFINITIONS AND SCHEDULES
The
attached schedules are incorporated into this agreement by reference Schedule
"A" contains definitions of capitalized terms used and not otherwise defined in
this agreement. Unless otherwise provided, all dollar amounts are in
Canadian currency and accounting terms are to be interpreted in accordance with
GAAP.

	BORROWER 	  
	ICP Global Technologies Inc.	(the "Borrower") 
	  	  
	LENDER 	  
	Royal Bank of Canada 	(the "Bank") 

CREDIT FACILITIES
Facility (10): $ 2
000 000 &/or US$ equivalent Revolving Demand Facility, by way of:

(a)         RBP based
loans ("RBP Loans");
(b)   
     RBUSBR based loans in US currency ("RBUSBR
Loans"); 

  (c)         Bankers' Acceptances ("BAs");
  

  (d)  
      Letters of Credit Canadian currency and/or US
currency ("LCs");

Each use of the Credit Facilities is a "Borrowing"
  and all such usages outstanding at anytime are "Borrowings".
  Schedule "C" contains terms and conditions applicable to Borrowings made otherwise
  than by way of RBP Loans or RBUSBR Loans which must be complied with.

	Page2 
	 

FEF CONTRACTS
At the Borrower's
request the Bank may enter into Foreign Exchange Forward Contracts ("FEF
Contracts") with the Borrower from time to time. The Bank makes no
commitment to enter into any FEF Contract and may at any time in its sole
discretion decline to enter into any FEF Contract. FEF Contracts will be
governed by the terms and conditions set forth in the FEF Contracts Schedule
attached hereto.

TERMS OF OTHER FACILITIES

  The Credit Facilities are in addition to the following:

	 	(a) 	
      corporate VISA to a maximum amount of $ 100 000 which is
        governed by this agreement and separate agreements between the Borrower
        and the Bank.

In the event of conflict between this agreement and any separate
  agreement delivered in connection with any such other facilities, the terms
  of such separate agreement shall govern.

PURPOSE
Facility (10)

  Finance general operating requirements.

AVAILABILITY 
Facility
(10)
The Borrower may borrow, convert, repay and reborrow up to the
amount of this revolving facility, provided:

		(a) 		
      the aggregate Borrowings outstanding under this facility
        (including, without limitation and all LCs ) must not exceed at any time
        the aggregate of the following, less Potential Prior-Ranking Claims (the
        "Borrowing Limit"): 

	 	 	 	
       

			(i) 	
      75% of Good Accounts Receivable (US and Canadian) not
      insured by EDC, as well as the portion that exceeds the limits established
      by EDC; and 

	 	 	 	
       

			(ii) 	
      90% of Good Accounts Receivable insured by EDC and within
      the limits established by EDC; and 

	 	 	 	
       

			(iii) 	
      65% of the value of the Borrower's good Foreign accounts
        receivable (Australia, Belgium, Italy, Germany and United Kingdom) not
        insured by EDC, as well as the portion that exceeds the limits established
        by EDC; and 

	 	 	 	
       

			(iv) 	
      33% of the lesser of cost or net realizable value of
      Unencumbered Inventory (finished goods), to a maximum of $ 500 000;
  

	 	 	 	
       

		(b) 		
      this facility is made available at the sole discretion
        of the Bank and the Bank may cancel or restrict availability of any unutilized
        portion of this facility at any time and from time to time without notice
        or demand. 

REPAYMENT 
Facility
(10)

  Borrowings under this facility are expected to revolve with operating requirements.
  Notwithstanding compliance with the covenants and all other terms and conditions
  of this agreement,and regardless of the maturities of any outstanding instruments
  or contracts, Borrowings under this facility are repayable on demand and the
  Bank may terminate this facility at any time, without notice or demand.

Upon demand or termination, the Borrower shall pay to the Bank
  all Borrowings outstanding under this facility including, without limitation,
  an amount equal to the aggregate of the face amounts of all BAs and LCs which
  are unmatured or unexpired, which amount shall be held by the Bank as security
  for the Borrower's obligations to the Bank in respect of such instruments or
  contracts. The Bank may enforce its rights to realize upon its security and
  retain an amount sufficient to secure the Bank for the Borrower's obligations
  to the Bank in respect of such instruments or contracts.

	INTEREST RATES AND FEES
    
	Facility (10) 	  
	RBP Loans: 	RBP plus 0.50% per annum. 
	RBUSBR Loans: 	RBUSBR plus 0.50% per annum.
  
	BAs: 	Market rate BAs plus 1.75 % per
      annum. 
	LCs: 	Fee to be quoted by the Bank at the time of issue
      of each LC. 

Arrangement Fee
An arrangement fee of $ 5 000 is
payable by the Borrower upon acceptance of this agreement. This fee is
non-refundable and is deemed to be earned by the Bank upon acceptance of this
agreement, to compensate for time, effort and expense incurred by the Bank in
approving these facilities.

Revolvement Fee
An administration fee of $ 25 per
month, for revolving RBP Loans and RBUSBR Loans under Facility(1) is payable
monthly.

Borrowing Limit Calculation Fee
Administration fees
of $ 200 per month are payable monthly.

CALCULATION AND PAYMENT OF INTEREST AND FEES

RBP Loans and RBUSBR Loans

  The Borrower shall pay interest on each RBP Loan and RBUSBR Loan, monthly in
  arrears, on the 21th day of each month. Such interest will be calculated monthly
  and will accrue daily on the basis of the actual number of days elapsed and
  a year of 365 days. Interest on RBUSBR Loans shall be paid in US currency.

LC Fees

  The Borrower shall pay an LC fee on the date of any payment made by the
  Bank pursuant to a drawing under any LC calculated on the amount drawn, based
  upon the number of days the LC was outstanding and a year of 365 days. If the
  total amount available under any LC has not been drawn prior to the expiry of
  such LC, the Borrower shall pay an LC fee calculated on the undrawn portion
  of such LC on the expiry date thereof, based upon the number of days the LC
  was outstanding and a year of 365 days.

BAs

  The Borrower shall pay an acceptance fee in advance on the date of issue
  of each BA at the applicable rate provided for in this agreement. Acceptance
  fees shall be calculated on the face amount of the BA issued and based upon
  the number of days in the term thereof and a year of 365 days.

Limit on Interest
The Borrower shall not be obligated
to pay any interest, fees or costs under or in connection with this agreement in
excess of what is permitted by law.

Overdue Payments

  Any amount that is not paid when due hereunder shall, unless interest is
  otherwise payable in respect thereof in accordance with the terms of this agreement
  or the instrument or contract governing same, bear interest until paid at the
  rate of RBP plus 5% per annum or, in the case of an amount in US currency, RBUSBR
  plus 5% per annum.

Equivalent Yearly Rates
The annual rates of interest
or fees to which the rates calculated in accordance with this agreement are
equivalent, are the rates so calculated multiplied by the actual number of days
in the calendar year rn which such calculation is made and divided by 365 or, in
the case of Libor Loans,divided by 360.

Time and Place of Payment
Amounts payable by the
Borrower hereunder shall be paid at the Branch of Account in the applicable
currency. Amounts due on a day other than a Business Day shall be deemed to be
due on the Business Day next following such day. Interest and fees payable under
this agreement are payable both before and after any or all of default, maturity
date, demand and judgement.

EXCHANGE RATE FLUCTUATIONS

  If, for any reason, the amount of Borrowings outstanding under
  any facility, when converted to the Equivalent Amount in Canadian currency,
  exceeds the amount available under such facility, the Borrower shall immediately
  repay such excess or shall secure such excess to the satisfaction of the Bank.

INCREASED COSTS
The Borrower shall
reimburse the Bank for any additional cost or reduction in income arising as a
result of (i) the imposition of, or increase in, taxes on payments due to the
Bank hereunder (other than taxes on the overall net income of the Bank), (ii)
the imposition of, or increase in, any

reserve or other similar requirement, (iii) the imposition of,
or change in, any other condition affecting the Credit Facilities imposed by any
applicable law or the interpretation thereof.

EVIDENCE OF INDEBTEDNESS
The Bank
shall open and maintain at the Branch of Account accounts and records evidencing
the Borrowings made available to the Borrower by the Bank under this agreement.
The Bank shall record the principal amount of each Borrowing, the payment of
principal and interest and all other amounts becoming due to the Bank under this
agreement.

The Bank's accounts and records constitute, in the absence of
  manifest error, conclusive evidence of the indebtedness of the Borrower to the
  Bank pursuant to this agreement.

The Borrower authorizes and directs the Bank to automatically
debit, by mechanical, electronic or manual means, any bank account of the
Borrower for all amounts payable by the Borrower to the Bank pursuant to this
agreement.

GENERAL ACCOUNT
The Borrower shall
establish a current account with the Bank (the "General Account") for the
conduct of the Borrower's day to day banking business. If the balance in the
General Account:

	 	(a) 	
      is a credit, the Bank may apply, at any time in its
      discretion,the amount of such credit or part thereof, rounded to the
      nearest $ 5 000, as a repayment of  Borrowings outstanding by way of
      RBP Loans under Facility (10), or

	 	 	 
	 	(b) 	
      is a debit, the Bank may, subject to availability, make
      available a Borrowing by way of an RBP Loan under Facility (10) in an
      amount, rounded to the nearest $ 5 000, as is required to place the
      General Account at not less than a zero balance.

CONDITIONS PRECEDENT
The
availability of any Borrowing is conditional upon the receipt of:

	 	(a) 	
      a duly executed copy of this agreement; 

	 	 	
       

		(b) 	
      a Audited financial statement of the Borrower as at
      January 31, 2005 revealing no major changes from the DRAFT received;
    

	 	 	
       

	 	(c) 	
      a confirmation of  EDC insurance policy, reflecting
      RBC as the beneficiary; 

	 	 	
       

		(d) 	
      a confirmation of assets declared on the Personal
      Statement of affairs of Sassoon Peress; 

	 	 	
       

		(e) 	
      the security provided for herein, in form and substance
      satisfactory to the Bank, registered as required to perfect and maintain
      the security created thereby and such certificates, authorizations,
      resolutions and legal opinions as the Bank may reasonably require; and
    

	 	 	
       

		(f) 	
      such financial and other information or documents relating
        to the Borrower or Guarantor as the Bank may reasonably require.

SECURITY
Security for the Borrowings
and all other obligations of the Borrower to the Bank shall include:

	(a) 	
      Assignment by the Borrower under Section 427 of the Bank
      Act (Canada) covering raw materials, goods in process and finished
      products; 

	 	
       

	(b) 	
      Moveable hypothec on universalities on the Bank's form
      890 signed by the Borrower constituting a first ranking security interest
      in the universality of assets of the Borrower; 

	 	
       

	(c) 	
      Surety ship and subordination of claim on the Bank's form
        813 in the amount of $ 400 000 signed by Sassoon Maurice Peress (This
        guarantee will be in force only when borrowings exceed $ 500 000. In addition
        this guarantee will be annulled upon the substitution of cash collateral
        (held in the name of 4245466 Canada Inc.) following the sale of the client's
        building); 

	 	
       

	(d) 	
      Suretyship and subordination of claim on the Bank's form
      813 in the amount of $ 400 000 signed by 4245466 Canada Inc., supported by
      a moveable hypothec on universalities on the Bank's form 890 constituting
      a first Guarantee Certificate Investment of 4245466 Canada Inc.:

	 	
       

	(e) 	
      Subordination of claims on the Bank's form 919 signed by
      ICP Solar Technologies Inc.; 

	 	
       

	(f)	
      Subordination of claims on the Bank's form 919 signed by
        4245466 Canada Inc. 

	 	
       

	(g) 	
      Commitment letter giving consent to RBC Royal Bank to
      obtain information from government authorities about prior ranking claims;
      

	 	
       

	(h) 	
      UCC Uniform Commercial Code; 

	 	
       

	(i) 	
      General coverage from Export Development Canada (EDC),
      assigned in favour of the Bank. 

REPRESENTATIONS AND WARRANTIES
Each
of the Borrower and Guarantor represents and warrants to the Bank which
representations and warranties are deemed to be repeated as at the time of each
Borrowing hereunder that:

	 	(a) 	
      it is a corporation duly incorporated, validly existing
        and duly registered or qualified to carry on business in the Province
        of Quebec;

	 	 	 
	 	(b) 	
      the execution, delivery and performance by it of this
      agreement have been duly authorized by all necessary actions and do not
      violate its constating documents or any Applicable Laws or agreements to
      which it is subject or by which it is bound;

	 	 	 
	 	(c) 	
      no event has occurred which constitutes, or which, with
      notice, lapse of time, or both, would constitute a breach of any covenant
      or other term or condition of this agreement or any security agreement
      given in connection therewith.

REPORTING COVENANTS

  The Borrower covenants and agrees with the Bank, while this agreement
  is in effect, to provide the Bank with:

	 	(a) 	
      monthly Statement of Borrowing Limit, substantially in
      the form 1398 or

			
      Statement titled "Information required to calculated
      ending Value", within 30 days of each month end; 

	 	 	 
		(b) 	
      quarterly in-house financial statements for the Borrower,
      within 30 days of each quarter end; 

	 	 	 
		(c) 	
      annual audited financial statements for the Borrower,
      within 120 days of each fiscal year end; 

	 	 	 
		(d) 	
      annual consolidated financial statements for the ICP Group,
        within 120 days of each fiscal year end; 

	 	 	 
		(e) 	
      annual non consolidated financial statements for each of
      the operating companies, within 120 days of each fiscal year end;
  

	 	 	 
		(f)	
      annual compiled financial statements for the ICP Solar
      Technologies Inc., within 120 days of each fiscal year end; 

	 	 	 
		(g) 	
      Updated Personal Statement of Affairs to be provided
      annually by all guarantors, or at the discretion of the bank, biennially;
      

	 	 	 
		(h) 	
      such other financial and operating statements and reports
      as and when the Bank may reasonably require. 

GENERAL COVENANTS
Each of the
Borrower and Guarantor covenants and agrees with the Bank, while this agreement
is in effect:

	 	(a) 	
      to pay all sums of money when due by it under this agreement;
      

	 	 	 
		(b) 	
      to provide the Bank with prompt written notice of any
      event which constitutes, or which, with notice, lapse of time, or both,
      would constitute a breach of any covenant or other term or condition of
      this agreement or any security agreement given in connection therewith;
      

	 	 	 
		(c) 	
      to give the Bank 30 days prior written notice of any intended
        change in the ownership of its shares and not to consent to or facilitate
        a change in the ownership of  its shares without the prior written
        consent of the Bank; 

	 	 	 
		(d) 	
      to keep its assets fully insured against such perils and
      in such manner as would be customarily insured by companies carrying on a
      similar business or owning similar assets; 

	 	  	
       

		(e) 	
      to file all material tax returns which are to be filed
        by it from time to time, to pay or make provision for payment of all taxes(including
        interest and penalties)and Potential Prior-Ranking Claims when due,and
        to provide adequate reserves for the payment of any tax, the payment of
        which is being contested; 

	 	 	 
		(f) 	
      to comply in all material respects with all Applicable
      Laws including, without limitation, all Environmental Laws: 

	 	 	 
		(g) 	
      not to, without the prior written consent of the Bank,
      grant, create, assume or suffer to exist any mortgage, charge, lien,
      pledge, security interest or other 

	 		
      encumbrance affecting any of its properties, assets or
      other rights;

	 	 	
       

	 	(h) 	
      not to, without the prior written consent of the Bank,
      sell, transfer, convey, lease or otherwise dispose of  any of 
      its properties or assets other than in the ordinary course of 
      business and on commercially reasonable terms;

	 	 	
       

	 	(i) 	
      not to, without the prior written consent of the Bank,
        guarantee or otherwise provide for, on a direct, indirect or contingent
        basis, the Payne any monies or performance of any obligations by any other
        Person,except as may be provided for herein;

	 	 	
       

	 	(j)	
      not to, without the prior written consent of the Bank,
      merge, amalgamate, or otherwise enter into any other form of business
      combination with any other Person;

	 	 	
       

	 	(k) 	
      to provide the Bank with prompt written notice of any
      non-compliance by the Borrower with any Environmental Laws or any Release
      from the land of the Borrower of a Contaminant into the natural
      environment and to indemnify and save harmless the Bank from all liability
      of loss as a result of an Environmental Activity or any non-compliance
      with any Environmental Law;

	 	 	
       

	 	(i)	
      to permit the Bank or its representatives, from time to
      time, to visit and inspect the Borrower's premises, properties and assets
      and examine and obtain copies of the Borrower's records or other
      information and discuss the Borrower's affairs with the auditors, counsel
      and other professional advisers of  the
Borrower.

FINANCIAL COVENANTS

  The Borrower covenants and agrees with the Bank, while this agreement
  is in effect:

	 	(a) 	
      to maintain, to be measured as at the end of each fiscal
      quarter:

	 	 	 	 
	 		(i) 	
      Tangible Net Worth of at least $ 2 000 000;

	 	 	 	 
	 	(b) 	
      to maintain, to be measured as at the end of each fiscal
      year:

	 	 	 	 
	 		(i) 	
      a ratio of  Total Liabilities to Tangible Net Worth
      of not greater than 2:1.

Nothing contained in the foregoing Covenants sections shall limit
  any right of the Bank under this agreement to terminate or demand payment of,
  or cancel or restrict availability of any unutilized portion of, any demand
  or other discretionary facility made available under this agreement.

EVENTS OF DEFAULT
Without limiting
any other rights of the Bank under this agreement, if any one or more of the
following events(herein an "Event of Default") has occurred and is
continuing:

	 	(a) 	
      the Borrower fails to pay when due any principal, interest,fees
        or other amounts due under this agreement;

	 	 	 
	 	(b) 	
      the Borrower or the Guarantor breaches any provision of
      this agreement or any security or other agreement with the Bank or any
      subsidiary or affiliate of the Bank:

		(c) 	
      the Borrower or the Guarantor defaults in the payment of
        any indebtedness to any Person other than the Bank, or in the performance
        or observance of any agreement in respect of any such indebtedness where,as
        a result of such default, the maturity of such indebtedness is or may
        be accelerated; 

	 	 	
       

		(d) 	
      any representation or warranty made or deemed to have
      been made herein or in any certificate or security provided for herein
      shall be false or inaccurate in any materially adverse respect; 

	 	 	
       

		(e) 	
      there is, in the opinion of the Bank, a material adverse
        change in the financial condition, operation or ownership of the Borrower
        or the Guarantor; 

	 	 	
       

		(f) 	
      the Borrower or the Guarantor is unable to pay its debts
        as such debts become due,or is, or is adjudged or declared to be, or admits
        to being,bankruptor insolvent; 

	 	 	
       

		(g) 	
      any notice of intention is filed or any voluntary or involuntary
        case or proceeding is filed or commenced for (i) the bankruptcy, liquidation,
        winding-up, dissolution or suspension of general operations of the Borrower
        (or the Guarantor),or (ii) the composition, re-scheduling, reorganization,arrangement
        or readjustment of, or other relief from, or stay of proceedings to enforce,
        some or all of the debts of the Borrower for Guarantor],or (iii) the appointment
        of a trustee, receiver, receiver and manager ,liquidator, administrator,
        custodian or other official for, all or any significant part of the assets
        of the Borrower or the Guarantor,or (rv) the possession, foreclosure or
        retention, or sale or other disposition of, or other proceedings to enforce
        security over, all or any significant part of the assets of the Borrower;
      

	 	  	
       

		(h) 	
      any secured creditor, encumbrancer or lienor, or any
      trustee, receiver, receiver and manager,agent,bailiff or other similar
      official appointed by or acting for any secured creditor, encumbrancer or
      lienor, takes possession of, or forecloses or retains,or sells or
      otherwise disposes of, or otherwise proceeds to enforce security over all
      or any significant part of the assets of the Borrower or the Guarantor or
      gives notice of its intention to do any of the foregoing,
  

then, in such event,the ability of the Borrower to make further
  Borrowings under any Credit Facility which is a term facility under this agreement
  shall immediately terminate and the Bank may, by written notice to the Borrower,
  declare the Borrowings outstanding under any such Credit Facility to be immediately
  due and payable. Upon receipt of such written notice,the Borrower shall immediately
  pay to the Bank all Borrowings outstanding under any Credit Facility which is
  a term facility under this agreement and all other obligations of the Borrower
  to the Bank in connection with any such Credit Facility under this agreement
  including, without limitation, an amount equal to the aggregate of the face
  amounts of all BAs and LCs which are unmatured or unexpired,which amount shall
  be held by the Bank as security for the Borrower's obligations to the Bank in
  respect of such instruments or contracts. The Bank may enforce its rights to
  realize upon its security and retain an amount sufficient to secure the Bank
  for the Borrower's obligations to the Bank in respect of such contracts or instruments.

Nothing contained in the foregoing Events of Default section
shall limit any right of the Bank

under this agreement to terminate or demand payment of, or cancel
  or restrict availability of any unutilized portion of, any demand or other discretionary
  facility made available under this agreement.

SUCCESSORSAND ASSIGNS
This agreement
shall be binding upon and ensure to the benefit of the parties and their
respective successors and permitted assigns.

The Bank may assign all or part of its rights and obligations
under this agreement to any Person. The rights and obligations of the Borrower
under this agreement may not be assigned without the prior written consent of
the Bank.

The Bank may disclose to potential or actual assignees
confidential information regarding the Borrower (including, any such information
provided by the Borrower to the Bank) and shall not be liable for any such
disclosure.

GENERAL 
Expenses

  The Borrower agrees to pay all fees (including legal fees), costs and expenses
  incurred by the Bank in connection with the preparation, negotiation and documentation
  of this agreement and the security provided for herein and the operation or
  enforcement of this agreement and the security provided for herein.

Review
The Bank may conduct periodic reviews of the
affairs of the Borrower, as and when determined by the Bank, for the purpose of
evaluating the financial condition of the Borrower. The Borrower shall make
available to the Bank such financial statements and other information and
documentation as the Bank may reasonably require and shall do all things
reasonably necessary to facilitate such review by the Bank.

Potential Prior-Ranking Claims

  The Borrower hereby grants its consent (such grant to remain in force as
  long as this agreement is in effect or any Borrowings are outstanding) to any
  Person having information relating to any Potential Prior-Ranking Claim arising
  by any law, statute, regulation or otherwise and including, without limitation,
  claims by or on behalf of government to release such information to the Bank
  at any time upon its written request for the purpose of assisting the Bank to
  evaluate the financial condition of the Borrower.

Set Off
The Bank is authorized, but not obligated, at
any time, to apply any credit balance, whether or not then due, to which the
Borrower is entitled on any account in any currency at any branch or office of
the Bank in or towards satisfaction of the obligations of the Borrower due to
the Bank under this agreement. The Bank is authorized to use any such credit
balance to buy such other currencies as may be necessary to effect such
application.

Non-Merger
The provisions of this agreement shall not
merge with any security provided to the Bank, but shall continue in full force
for the benefit of the parties hereto.

Amendments and Waivers

  No amendment or waiver of any provision of this agreement will be effective
  unless it is in writing signed by the Borrower and the Bank. No failure or delay,
  on the part of the Bank, in exercising any right or power hereunder or under
  any security document shall operate as a waiver thereof. The Guarantor agrees
  that the amendment or waiver of any provision of this agreement (other than
  agreements, covenants or representations expressly made by the Guarantor herein,
  if any) may be made without and does not require the consent or agreement of,
  or notice to, the Guarantor.

Severability

  If any provision of this agreement is or becomes prohibited or unenforceable
  in any jurisdiction, such prohibition or unenforceability shall not invalidate
  or render unenforceable the provision concerned in any other jurisdiction nor
  invalidate, affect or impair any of the remaining provisions of this agreement.

Judgement Currency

  If for the purpose of obtaining judgement in any court in any jurisdiction
  with respect to this agreement,it is necessary to convert into the currency
  of such jurisdiction (the "Judgement Currency") any amount due hereunder in
  any currency other than the Judgement Currency, then conversion shall be made
  at the rate of exchange prevailing on the Business Day before the day on which
  judgement is given. For this purpose "rate of exchange"means the rate at which
  the Bank would, on the relevant date, be prepared to sell a similar amount of
  such currency in the Toronto foreign exchange market, against the Judgement
  Currency, in accordance with normal banking procedures.

In the event that there is a change in the rate of exchange prevailing
  between the Business Day before the day on which judgement is given and the
  date of payment of the amount due, the Borrower will, on the date of payment,
  pay such additional amounts as may be necessary to ensure that the amount paid
  on such date is the amount in the Judgement Currency which, when converted at
  the rate of exchange prevailing on the date of payment, is the amount then due
  under this agreement in such other currency together with interest at RBP and
  expenses (including legal fees on a solicitor and client basis). Any additional
  amount due from the Borrower under this section will be due as a separate debt
  and shall not be affected by judgement being obtained for any other sums due
  under or in respect of this agreement.

Governing Law

  This agreement shall be construed in accordance with and governed by the
  laws of the Province of Quebec and of Canada applicable therein.

Whole Agreement

  This agreement, the security and any other written agreement delivered pursuant
  to or referred to in this agreement constitute the whole and entire agreement
  between the parties in respect of the Credit Facilities. There are no verbal
  agreements, undertakings or representations in connection with the Credit Facilities.

Joint and Several

  Where more than one Person is liable as Borrower for any obligation under
  this agreement,t hen the liability of each such Person for such obligation is
  joint and several with each other such Person.

Time
The mere lapse of time fixed for performing and
obligation hereunder shall have the effect of putting the debtor in default
thereof.

Language

  The parties hereto have required that this offer, as well as all document
  which relate to it, be drafted in English. Les parties aux présentes
  ont requis que cette offre ainsi que tous les documents s'y rattachant soient
  rédigés en anglais.

Acceptance

This offer is open for acceptance until June 6, 2005, after
which date it will be null and void, unless extended in writing by the Bank.

Please confirm your acceptance of this agreement by signing the
attached copy of this letter in the space provided below and returning it to the
undersigned.

Yours truly,
 

Lise Lafontaine 
Account Manager
(514) 856-8631

We acknowledge and accept the foregoing terms and conditions
  as of _________________________,2005.

ICP GLOBAL TECHNOLOGIES INC.
 

By: ___________________________________
Name: 
Title:

I/We have authority to bind the [Corporation.]

We acknowledge and confirm our agreement with the foregoing terms
  and conditions, as Guarantor(s)as of __________________, 2005.

4245466 CANADA INC.
 

By: ___________________________________
Name: 
Title:

We acknowledge and confirm our agreement with the foregoing
terms and conditions, Guarantor(s)as of _____________________, 2005.
 

Schedule"A" to the agreement dated May 6, 2005, between
  ICP Global Technologies Inc., as Borrower, and Royal Bank of Canada, as the
  Bank.

DEFINITIONS

For the purpose of this agreement,the following terms and phrases
  shall have the following meanings:

"Applicable Laws" means,with respect to any
  Person, property, transaction or event, all present or future Applicable Laws,
  statutes, regulations, rules, orders, codes, treaties, conventions, judgements,
  awards, determinations and decrees of any governmental, regulatory, fiscal or
  monetary body or court of competent jurisdiction in any applicable jurisdiction;

"Bankers' Acceptance" or "BA"
  means a bill of exchange, including a depository bill issued in accordance with
  the Depository Bills and Notes Act (Canada), drawn on the Bank by, and payable
  to the order of, the Borrower which have been accepted by the Bank;

"Business Day" means a day, excluding
Saturday, Sunday and any other day which shall be a legal holiday or a day on
which banking institutions are closed in the province of the Branch of Account
and, when used in connection with a Libor Loan, means, in addition to the
foregoing, a day on which dealings in US currency deposits by and between
leading banks in the London Interbank Market may be concluded;

"Contaminant" includes, without limitation,
any pollutant, dangerous substance, liquid waste, industrial waste, hazardous
material, hazardous substance or contaminant including any of the foregoing as
defined in any Environmental Law;

"Environmental Activity" means any activity,
  event or circumstance in respect of a Contaminant, including, without limitation,
  its storage, use, holding, collection, purchase, accumulation, assessment, generation,
  manufacture, construction, processing, treatment, stabilization, disposition,
  handling or transportation, or its Release into the natural environment, including
  movement through or in the air, soil, surface water or groundwater;

"Environmental Laws" means all Applicable Laws
relating to the environment or occupational health and safety, or any
Environmental Activity;

"Equivalent Amount" means, with respect to an
amount of any currency, the amount of any other currency required to purchase
that amount of the first mentioned currency through the Bank in Toronto, in
accordance with  normal banking procedures;

"Eurocurrency" means US Dollars, Sterling,
Deutsche Marks, Swiss Francs, Japanese Yen or any other currency which is freely
convertible on the London Interbank Market;

"GAAP" means, generally accepted accounting
principles in effect from time to time in Canada applied in a consistent manner
from period to period;

"Good Accounts Receivable" means accounts receivable
  of the Borrower excluding (i) the entire amount of accounts, any portion of
  which is outstanding more than 90 days after billing date (or 120 days according
  to the EDC policy), provided that the under 90 day portion (or 120 days according
  to the EDC policy) may be included where the Bank has designated such portion
  as nevertheless good, (ii) all amounts due from any affiliate, (iii) bad or
  doubtful accounts, (iv) accounts subject to any security interest or other encumbrance
  ranking or capable of ranking in priority to the Bank's security, (v) the amount
  of all holdbacks, contra accounts or rights of set-off on the part of any account
  debtor, or (vi) any accounts which the Bank has previously advised to be ineligible;

"Guarantor" this agreement as Guarantor, means
any Person who has executed 

"Letter of Credit" or "LC"
  means a documentary credit issued by the Bank on behalf of the Borrower for
  the purpose of paying suppliers of goods;

"Letter of Guarantee" or "LG"
  means a documentary credits issued by the Bank on behalf of the Borrower for
  the purpose of providing security to a third party that the Borrower or a person
  designated by the Borrower will perform a contractual obligation owed to such
  third party;

"Person" includes an individual, a
partnership, a joint venture, a trust, an unincorporated organization, a
company, a corporation, an association, a government or any department or agency
thereof, and any other incorporated or unincorporated entity;

"Potential Prior-Ranking Claims" means all amounts
  owing or required to be paid where the failure to pay any such amount could
  give rise to a claim pursuant to any law, statute, regulation or otherwise,
  which ranks or is capable of ranking in priority to the Bank's security or otherwise
  in priority to any claim by the Bank for repayment of any amounts owing under
  this agreement;

"RBP"and "Royal Bank Prime"
each means the annual rate of interest announced by the Bank from time to time
as being a reference rate then in effect for determining interest rates on
commercial loans made in Canadian currency in Canada;

"RBUSBR" and "Royal Bank US Base
Rate" each means the annual rate of interest announced by the Bank from
time to time as a reference rate then in effect for determining interest rates
on commercial loans made in US currency in Canada:

"Release" includes discharge, spray, inject,
inoculate, abandon, deposit, spill, leak, seep, pour, emit, empty, throw, dump,
place and exhaust,and when used as a noun has a similar meaning;

"Unencumbered Inventory" means inventory of
  the Borrower which is not subject to any security interest or other encumbrance
  or any other right or claim which ranks or is capable of ranking in priority
  to the Bank's security including, without limitation, rights of unpaid suppliers
  under the Bankruptcy and Insolvency Act, Canada, to repossess inventory within
  30 days after delivery;

"US"means United States of America.

Definitions Related to Financial Covenants

"Capital Expenditures" means, for any fiscal
  period, any amounts accrued or paid in respect of any purchase or other acquisition
  for value of capital assets and, for greater certainty, excludes amounts expended
  in respect of the normal repair and maintenance of capital assets utilized in
  the ordinary course of  business;

"Corporate Distributions" means any payments
to any shareholder, director or officer of the Borrower, or to any associate for
holder of Subordinated Debt] of the Borrower, or to any shareholder, director or
officer of any associate for holder of Subordinated Debt] of the Borrower,
including, without limitation, bonuses, dividends, salaries or repayment of debt
or making of loans to any such Person, but excluding salaries to officers or
other employees in the ordinary course of business.

"Current Assets" means, at any time, those
assets ordinarily realizable within one year from the date of determination or
within the normal operating cycle, where such cycle is longer than a year;

"Current Liabilities" means,at any time, amounts
  payable within one year from the date of determination or within the normal
  operating cycle, where such cycle is longer that a year (the operating cycle
  must correspond with that used for current assets);

"Current Ratio" means the ratio of Current
Assets to Current Liabilities;

"Debt Service Coverage" means, for any fiscal
period, the ratio of EBITDA to the total of Interest Expense and scheduled
principal payments in respect of Funded Debt;

"EBIT" means, for any fiscal period, net
income from continuing operations (excluding extraordinary gains or losses)
plus, to the extent deducted in determining net income, Interest Expense and
income taxes accrued during the period;

"EBITDA" means, for any fiscal period, net
income from continuing operations (excluding extraordinary gains or losses)
plus, to the extent deducted in determining net income, Interest Expense and
income taxes accrued during, and depreciation, depletion and amortization
expenses deducted for, the period;

"Equity" means the total of share capital, [(excluding
  preferred shares redeemable within one year)] contributed surplus and retained
  earnings [plus Postponed Debt];

"Financial Assistance" means any form of direct
  or indirect financial assistance of any other Person by means of a loan, guarantee
  or otherwise or any obligations (contingent or otherwise) intended to enable
  another Person to incur or pay any debt or comply with any agreements related
  hereto or to otherwise assure or protect creditors of another Person against
  loss in respect of debt or any other obligations of such other Person;

"Fixed Charges" means, for any fiscal period,
  the total of Interest Expense, scheduled principal payments in respect of Funded
  Debt, [payments under operating [eases] and Corporate Distributions;

"Fixed Charge Coverage" means, for any fiscal
  period, the ratio of EBITDA [plus payments under operating [eases] less cash
  income taxes and unfunded Capital Expenditures to Fixed Charges;

"Funded Debt" means, at any time, all obligations
  for borrowed money which bears interest or to which interest is imputed plus,
  without duplication, all obligations for the deferred payment of the purchase
  of property, all capital lease obligations and all indebtedness secured by purchase
  money security interests, [plus the amount of any guarantees or other financial
  assistance provided in respect of liabilities of a third party], [but excluding
  Postponed  Debt];

"Interest Coverage Ratio" means the ratio of
EBIT to Interest Expense;

"Interest Expense" means, for any fiscal
period, the aggregate cost of advances of credit outstanding during that period
including, without limitation, interest charges, capitalized interest, the
interest component of capital leases, fees payable in respect of letters of
credit and letters of guarantee and discounts incurred and fees payable in
respect of bankers' acceptances;

"Investment" means the acquisition (whether
  for cash, property, services, securities or otherwise) of shares, bonds, notes,
  debentures, partnership or other property interest, or other securities of any
  other Person or any agreement to make any such acquisition;

"Postponed Debt" means indebtedness that is
fully postponed and subordinated, both as to principal and interest, on terms
satisfactory to the Bank, to the obligations owing to the Bank hereunder;

"Tangible Net Worth" means the total of Equity
[plus Postponed Debt] less intangibles, [deferred charges and leasehold
improvements]. For the purpose hereof, intangibles are assets lacking physical
substance;

"Total Capital" means of [Total Liabilities /
Funded Debt] plus Equity;

"Total Liabilities" means all liabilities, exclusive
  of deferred tax liabilities [and Postponed Debt];

"Working Capital" means Current Assets less
Current Liabilities.

Schedule"C" to the agreement dated May 6, 2005, between ICP Global
  Technologies Inc., as Borrower, and Royal Bank of Canada, as the Bank.

BORROWING CONDITIONS

Borrowings made otherwise than by way of RBP Loans or RBUSBR
  Loans will be subject to the following terms and conditions:

BAs:

	 	(a) 	
      BAs shall be issued and mature on a Business Day and shall
        be issued in minimum face amounts of $ 500 000 or such larger amount as
        is a whole multiple of $ 100 000 for terms of not less than 30 and not
        more than 180 days;

	 	 	 
	 	(b) 	
      the Bank may, in its sole discretion, refuse to accept
        the Borrower's drafts or limit the amount of any BA issue at any time;

	 	 	 
	 	(c) 	
      notwithstanding any other provision of this agreement,
        the Borrower shall indemnify the Bank against any loss, cost or expense
        incurred by the Bank if any BA is repaid, prepaid, converted or cancelled
        other than on the maturity date of such BA;

	 	 	 
	 	(d) 	
      any BA issued under a term facility must have a maturity
      on or before the maturity date of the term facility, unless otherwise
      agreed by the Bank;and

	 	 	 
	 	(e) 	
      prior to the issue of any BA the Borrower shall execute
        the Bank's standard form of undertaking and agreement in respect of BAs.
        If there is any inconsistency at any time between the terms of this agreement
        and the terms of the Bank's standard form of undertaking and agreement,the
        terms of this agreement shall govern.

LCs or LGs:

	 	(a) 	
      each LC and LG shall expire on a Business Day and shall
      have a term of not more than 365 days;

	 	 	 
	 	(b) 	
      at least 2 Business Days prior to the issue of an LC or
      LG, the Borrower shall execute a duly authorized application with respect
      to such LC or LG and each LC and LG shall be governed by the terms and
      conditions of the relevant application for such contract;

	 	 	 
	 	(c) 	
      an LC or LG may not be revoked prior to its expiry date
      unless the consent of the beneficiary of the LC or LG has been obtained;
      and

	 	 	 
	 	(d) 	
      if there is any inconsistency at any time between the
      terms of this agreement and the terms of the application for LC or LG, the
      terms of the application for LC or LG shall
govern.

FEF CONTRACTS SCHEDULE

FEF Contract Definitions

"Foreign Exchange Forward Contract" or "FEF
  Contract" means a currency exchange transaction or agreement or any
  option with respect to any such transaction now existing or hereafter entered
  into between the Borrower and the Bank;

Conditions Applicable to FEF Contracts

At the Borrower's request, the Bank may agree to enter into FEF
Contracts with the Borrower from time to time. The Borrower acknowledges that
the Bank makes no formal commitment herein to enter into any FEF Contract and
the Bank may, at any time and at all times, in its sole and absolute discretion,
accept or reject any request by the Borrower to enter into a FEF Contract. If
the Bank does enter into a FEF Contract with the Borrower, it will do so subject
to the following:

	 	(a) 	
      the Borrower shall promptly issue or countersign and
      return a confirmation or acknowledgement of the terms of each such FEF
      Contract as required by the Bank:

	 	 	 
	 	(b)	
      the Borrower shall, if required by the Bank, promptly
      enter into a Foreign Exchange and Options Master Agreement or such other
      agreement in form and substance satisfactory to the Bank to govern the FEF
      Contract(s);

	 	 	 
		(c) 	
      in the event of demand for payment under the agreement
        of which this schedule forms apart, the Bank may terminate all or any
        FEF Contracts. If the agreement governing any FEF Contract does not contain
        provisions governing termination, any such termination shall be effected
        in accordance with customary market practice. The Bank's determination
        of amounts owing under any terminated FEF Contract shall be conclusive
        in the absence of manifest error. The Bank shall apply any amount owing
        by the Bank to the Borrower on termination of any FEF Contract against
        the Borrower's obligations to the Bank under the agreement and any amount
        owing to the Bank by the Borrower on such termination shall be added to
        the Borrower's obligations to the Bank under the agreement and secured
        by the Bank's security;

	 	 	 
	 	(d) 	
      the Borrower shall pay all required fees in connection
      with any FEF Contracts and indemnify and hold the Bank harmless against
      any loss, cost or expense incurred by the Bank in relation to any FEF
      Contract;

	 	 	 
	 	(e) 	
      any rights of the Bank herein in respect of any FEF Contract
        are in addition to and not in limitation of or substitution for any rights
        of the Bank under any agreement governing such FEF Contract. In the event
        that there is any inconsistency at any time between the terms hereof and
        any agreement governing such FEF Contract, the terms of such agreement
        shall prevail; and

		
      (f) 
	
      in addition to any security which may be held at any time
      in respect of any FEF Contract, upon request by the Bank from time to
      time, the Borrower will deliver to the Bank such security as is acceptable
      to the Bank as continuing collateral security for the Borrower's
      obligations to the Bank in respect of  FEF Contracts.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}]]