Document:

Exhibit 10.3

 

	Handelsbanken	Contract
    A	Page 1 of 1	 
	 	Account with overdraft facility for purposes
 other than personal consumption	 	 
	Branch	Facility No.
 322 882 028
	 	 
	Sundbyberg	 	 	 

 

 

	Borrower	Name 	Civic registration/

Business organisation number 
	BASSET AB	556548-8243
	Overdraft amount	
        SEK (in words)

        THIRTEENMILLION KRONOR

	
        SEK (in numbers)

        13 000 000,00

	Overdraft period	
        As from - to, inclusive (year, month, day)

         

        2013-01-01 - 2013-12-31
	
        Extension period, if any (number of months)

        (section 7 in “General Terms”)

        12

	The Bank can in accordance with section 8 of the “General Terms” for the facility, suspend utilisation of the facility during the period of the facility and during any extension period and/or terminate the facility.
	Interest	
        Contract interest rate, currently %

        0,60
	
        The interest is payable as contract interest on the full overdraft
        amount and as utilisation interest on the borrower’s debt.

         

        Contract interest is payable in advance at the beginning of the
        overdraft period.

        The utilisation interest rate applies to the full overdraft amount
        utilised, unless otherwise specified here.

	
        Amount ranges for utilisation interest Overdraft amount up to and
        including SEK

         

        13 000 000,00
	
        Utilisation interest rate, currently %

        The interest rate is subject to special terms relating to Money
        Market Accounts

         

        Stibor T/N + 1,30

	
        Due dates for utilisation interest, every (month, day)

        0331, 0630 0930, 1231
	First due date for utilisation interest
	The Bank’s undertaking	Svenska Handelsbanken AB (publ) opens an account with overdraft facility for the borrower for up to the overdraft amount set out above on the terms and conditions stated in this Contract.
	The

Borrower’s undertaking	The Borrower shall comply with the terms and conditions of this contract, some of which are reproduced in the “General terms” for the facility.  On expiry of the agreed overdraft period, the borrower shall, unless the Bank has agreed to an extension of the overdraft period in accordance with section 7 in the “General Terms” for the facility, immediately pay his debt under the contract.  When the borrower’s right to utilise the facility has expired, the borrower must immediately return unused cheques as well as any other instruments for the operation of the account.
	Signature	I/we confirm that I/we have read all pages of the contract including the “General Terms” for the facility.
	Date	Date
	 	Borrower	Svenska Handelsbanken AB (publ)
	 	 	Documents in order	Date	Signature
	 	 	 	 	 	 	 	 	 	 

    	 

    	 

    

	Handelsbanken	Sida
1 av 4
	 	 

GENERAL TERMS FOR CONTRACT A – Account with overdraft
facility for purposes other than personal consumption, applying from May 2009

		1.	General terms for accounts held with Handelsbanken.

The borrower disposes of the
account in accordance with the terms applying to the account to which the overdraft facility is linked. The Bank may withdraw funds
from the account if the borrower has ordered this or has approved that account may be debited.

The Bank may also debit the account
with amounts corresponding to interest, charges and costs which are associated with the account. The Bank may also debit the account
with amounts corresponding to fees, costs and outlays for orders effected on behalf of the borrower and for payment of other due
claims which the Bank has on the borrower.

When the Bank is entitled to
debit the account as stated in the previous paragraph, this may also be done as at a day which is a public holiday or equivalent
day. It is the duty of the borrower to ensure that a sufficiently large amount is available on the account when the debit occurs.
If the borrower dies during the contract period, the Estate of the deceased may not increase the debt on the account without the
consent of the Bank.

		2.	Interest

The borrower shall pay utilisation
interest to the Bank at an annual rate computed on the overdraft amount outstanding at any time, plus contract interest on the
granted overdraft amount. The utilisation interest is calculated at the interest rate and on the grounds which the Bank applies
to this type of facility at any time. The interest rates applying when the facility was provided are set out on page one. If different
interest rates are applied for utilisation interest in different ranges of the overdraft amount, this is indicated on page one
with the interest rates applying when the contract is entered into.

In the event of extension of
the facility, additional contract interest is payable for each period of extension, this being payable in advance for the period
concerned.

The borrower is liable for contract
interest for the period until the end of the overdraft period set out in the contract, without any obligation for the Bank to make
a refund if the contract should be terminated before then.

		3.	Unauthorised overdrafts

If the borrower’s debt
to the Bank under this contract exceeds the amount granted, the borrower shall upon demand pay the difference. In this case the
borrower shall also pay interest on the overdrawn amount at the rate and on the grounds applied by the Bank at any time and also
an unauthorised overdraft fee as set out in section 5 below.

Unauthorised overdrafts also
entitle the Bank to terminate the facility for repayment and/or suspend utilisation of the facility in advance. In this case the
provisions in section 8 will apply.

		4.	Penalty interest

If payment of principal, interest
and/or charges is not effected when due, the borrower shall pay special annual penalty interest on the overdue amount until payment
is made. On amounts not overdue, the usual interest rate continues to apply.

Penalty interest is calculated
at the utilisation interest rate applying to the facility, plus five percentage points or, when the entire facility is overdue,
one percentage point.

		5.	Charges and costs

The account is subject to charges
according to the terms generally applied from time to time by the Bank. Particulars of current charges are available at any of
the Bank’s branches.

The borrower shall reimburse
the Bank for the costs and work associated with obtaining, maintaining and utilising the security agreed upon as well as with the
lodging of proof and collection of the Bank’s claim on the borrower or on any other party liable for payment thereof. The
Bank’s written payment reminders shall thus also be reimbursed.

		6.	Order of debt settlement

When payment is made, the Bank
in entitled to deduct all the charges, costs and interest due on the facility before settling the principal amount.

		7.	Extension of overdraft period

If the Bank grants an extension
of the overdraft period and nothing is then stated to the contrary, the overdraft period will be extended by the number of months
set out on page one, each time such extension is granted.

		8.	The Bank’s right to terminate the facility and/or suspend utilisation of the facility

The Bank may terminate the facility
for payment immediately or at any time determined by the Bank and suspend utilisation of the overdraft facility, if any of the
following circumstances should apply:

		a)	the borrower has failed to meet his obligations under this contract or otherwise to the Bank,

		b)	the borrower has used the account improperly in a manner set out under section 3,

		c)	the security for the facility or for other obligations of the borrower towards the Bank is no longer
satisfactory,

		d)	there is reasonable cause to assume that the borrower will not meet his payment obligations towards
the Bank.

If any of the circumstances under
the previous paragraph should occur, the Bank is entitled, regardless of whether termination has been made, to immediately suspend
the right to utilise the facility further.

If the Bank has terminated the
facility in accordance with this section, the borrower shall immediately return unused cheques and other instruments for operating
the account.

    	 

    	 

    

	Handelsbanken	Sida
2 av 4
	 	 

		9.	Closing bill and refund

When the agreed overdraft period
has expired and the Bank has not allowed extension of the facility pursuant to section 7 or when the facility is payable in advance
pursuant to section 8, the Bank shall prepare a closing bill.

The borrower must immediately
pay the debt according to the closing bill.

		10.	Definition of a pledge etc

‘Pledge’ also refers
to property that is included in a floating charge on assets. The term ‘pledger’ also refers to an assignor of floating
charge, ‘pledging’ also refers to assignment of the floating charge and ‘pledge deed’ also refers to deeds
associated with a floating charge and pledge claims.

		11.	The Bank’s right to sell pledged financial instruments

If the security for the facility
consists in full or in part of financial instruments and if the value for borrowing purposes assigned by the Bank declines, implying
that the security is no longer satisfactory, the borrower must at the request of the Bank immediately provide additional security.
If such security is not provided or if the Bank is unable to contact the borrower within a reasonable period of time, the Bank
has the right, but not the obligation, to sell the required portion of the financial instruments. The proceeds shall be deposited
to an interest-bearing account and continue to constitute a pledge for the facility. That which is stated above does not restrict
the Bank’s right to terminate the facility for immediate payment in accordance with section 8 and/or the right to immediately
suspend utilisation of the facility in accordance with section 8.

		12.	Right of guarantor and pledger to prevent extension of overdraft period.

A guarantor is not entitled to
terminate his guarantee and a pledger may not revoke his pledge.

However, any guarantor or pledger
may separately not later than six weeks before the due date of the facility, request in writing that the Bank shall not extend
the facility. Such request may imply that the guarantor becomes forced to pay by virtue of his guarantee, or that the Bank utilises
a pledge.

If the Bank within the period
set out in the preceding paragraph has received a request that the facility shall not be extended but nevertheless extends the
facility, the guarantee or pledge provided by the party making such request ceases to be valid. This does not apply, however, if
the Bank, due to the borrower’s negligence, before expiry of the aforementioned time period, has taken legal action against
the party opposing extension or has commenced negotiation with this party concerning the guarantee commitment or pledge.

		13.	Sequence of utilisation of security

If the borrower fails to meet
his obligations under the contract, the Bank may determine the sequence in which the security (pledges, guarantees, etc.) shall
be utilised.

		14.	General lien

Property pledged by the borrower
in this contract shall also constitute security for any other obligations towards the Bank for which the borrower is or may in
the future be liable, in his capacity as borrower, principal, account-holder, guarantor or otherwise as customer of the Bank. Such
other obligation shall have arisen before the borrower’s obligations under this contract have been met. The Bank shall determine
in which order the obligations are to be settled out of the proceeds of the pledge. However, account must be taken of the right
of guarantors according to section 22.

Property thus pledged shall not,
however, by reason of the pledge, constitute security for the borrower’s obligations on account of bills of exchange which
have been discounted, or which may be discounted at the Bank by a third party, unless they concern the renewal of bills, or have
otherwise replaced bills originally discounted by the borrower. Neither shall the property thus pledged secure any other claims
on the borrower which the Bank has acquired or may acquire from a third party.

		15.	Yield on property pledged

Yield and all other rights based
on the pledge are also covered by the pledging and constitute a pledge. Thus, the pledging of shares, for example, includes the
right for the Bank to participate in bonus issues, new issues and other issues for which the shares qualify. As stated in section
16, the Bank is, however, not liable for ensuring that such rights are safeguarded. Where this nevertheless occurs, the Bank is
accountable to the pledger.

		16.	Safeguard by the Bank of the pledge

The Bank has a duty to take good
care of the pledge.

Where appropriate, the Bank shall
renew limitation periods and lodge proof of claim in case of summons of unknown creditors and also in bankruptcies, where the pledger
so requests after commencement of the bankruptcy. Where announcement has been made regarding the cancellation of a pledged document,
the Bank shall give notice that it holds the document. However, the Bank is not obliged to take any of these measures regarding
certificates of claim consisting of coupons or which are intended for the open market, such as bonds, or to which Swedish law does
not apply.

The Bank is not obliged to maintain
personal liability for payment in respect of mortgaged instruments of debt.

The Bank’s safeguard of
the pledge does not extend beyond what has been stated above. Thus the Bank is not, for example, as far as securities are concerned,
obliged to collect dividends and interest or observe the pledger’s rights in connection with issues, exchanges of shares,
conversions, distributions of the net assets, etc.

		17.	How a pledge may be utilised by the Bank

The Bank may utilise a pledge
as the Bank deems fit. In this respect, the Bank shall proceed with care and, where possible and if in the opinion of the Bank
it can be accomplished without prejudice to the Bank, notify the pledger to this effect in advance.

When applying the above, a financial
instrument can be sold in a different way than on a market where the instrument is registered or is normally traded.

    	 

    	 

    

 

	Handelsbanken	Sida
3 av 4
	 	 

If the pledge consists of funds
deposited in an account with the Bank, the Bank may immediately debit the account in reimbursement of the amount due, without informing
the pledger in advance.

Should the pledge consist of
an instrument of debt, for which the pledger is liable personally or with certain property, the instrument is, with respect to
the pledger, due for payment on demand, regardless of the due date stipulated in the instrument.

		18.	The Bank’s right to sign on behalf of the pledger

Through his pledging, the pledger
authorises the Bank, or anyone appointed by the Bank, to sign on behalf of the pledger, where this is necessary in order to safeguard
the Bank’s right of pledge. This authorisation may not be revoked as long as the pledging is in force.

		19.	Release of pledge

The Bank may release pledges
without being bound to observe any right to the pledge which may accrue to a guarantor who has made payment to a party other than
the Bank by virtue of his guarantee.

		20.	Transfer of unpledged deeds of mortgage

When the Bank no longer holds
the pledge and has not been informed of a new pledge-holder or received a request that a written deed of mortgage shall be issued,
the Bank is entitled to transfer an electronic deed of mortgage to the National Land Survey’s register of mortgages for which
no other mortgage-holder is registered, known as the Public Archive.

		21.	Payment by guarantor

If a guarantor makes payment
to the Bank on account of his guarantee, he shall specifically notify the Bank that he is paying in his capacity as guarantor and
request that this fact be noted by the Bank.

		22.	Guarantor’s right to pledges

If a guarantee has been signed
on this contract, the following shall apply with regard to the guarantor’s right to pledges in this contract by the borrower
alone or jointly with another:

The pledge shall constitute security
for the guarantor’s claim for recourse against the borrower to the extent that it is not utilised by the Bank for the borrower’s
obligations under this contract. When the pledge constitutes security for the right of recourse of several guarantors, they shall
have the right to the pledge in proportion to the right of recourse of each of them, unless they agree otherwise.

In relation to the Bank, a guarantor
is not entitled to any other property which has been pledged to the Bank by the borrower or another party.

The Bank may release yield from
the pledge which is not required for payment of amounts due under this contract, without thereby reducing the liability of any
guarantor.

		23.	How the pledge may be utilised for a guarantor’s right of recourse

Where a guarantor has made payment
to the Bank by virtue of his guarantee, he may make use of his right to a pledge under section 22 only when the Bank has received
payment in full for its claim under this contract. If he wishes to exercise this right, the Bank is entitled to choose between
releasing the pledge to the guarantor or utilising the pledge on behalf of the guarantor. Section 17 shall apply in this connection.

		24.	Property pledged by another party than the borrower

Property pledged on this contract
by another party than the borrower shall constitute security only for the borrower’s obligations under this contract, unless
otherwise agreed.

Without any reduction of the
Bank’s right to property which another party than the borrower has pledged on this contract, the Bank is entitled to release
property pledged by the borrower or any other party, which has not been pledged on this contract, as well as the yield on such
property. The Bank is also entitled to release the yield on property pledged on this contract by the borrower or any other party,
if the yield is due for payment but is not required to cover interest or costs due under the contract.

		25.	Cancellation of the contract

The contract will be cancelled
one month after the overdraft has been repaid in full, unless the borrower has asked in advance for it to be returned.

		26.	Insurance

Property which constitutes security
for the Bank’s claim shall be satisfactorily insured with an insurer approved by the Bank.

If the borrower fails to show
proof that insurance as prescribed above is in force, the Bank shall be entitled to arrange for such insurance at the borrower’s
expense.

		27.	Processing of personal data

Personal data submitted to the
Bank in connection with a credit application or otherwise registered in connection with processing or administration of this credit
will be subject to such processing in computer systems at the Bank as required by the credit agreement. This includes information
about contacts between the borrower and the Bank.

The personal data are also used
for marketing and customer research, business and methods development and risk management in the Handelsbanken Group. Risk management
also involves processing of information on the borrower and loans to assess the quality of loans for purposes of capital adequacy.
The personal data are also used for marketing purposes, unless the borrower has requested a block on direct advertising from the
Bank. The processing of personal data can – within the framework of current bank confidentiality regulations – take
place with other Group companies and other companies with whom the Bank co-operates in its operations.

If borrowers want to receive
information about their personal data which is being processed by the Bank, they can request this in writing from their respective
branch of the Bank. Requests to correct incomplete or incorrect personal data can be made at the Bank branch or sent to Handelsbanken,
Central auditing department, SE-10670 Stockholm.

The above statements regarding
borrowers also apply to guarantors, if any, or other pledgers than the borrower.

    	 

    	 

    

 

	Handelsbanken	Sida
4 av 4
	 	 

		28.	Notices, etc.

The borrower, guarantors and
pledgers shall notify the Bank of any changes of address, phone and fax number.

Registered letters regarding
the overdraft facility which the Bank has forwarded to any of the parties mentioned above shall be deemed to have reached the addressee
not later than on the seventh day after despatch if the letter has been sent to the address which is known to the Bank.

Notices sent by fax shall be
deemed to have reached the addressee no later than the next business day if the fax message was sent to a number which the addressee
has submitted to the Bank. A business day is a day other than Sunday, public holiday, Saturday, Midsummer’s Eve, Christmas
Eve or New Year’s Eve.

The provisions do not apply to
notices renewing limitation periods.

		29.	Limitation of the Bank’s liability

The Bank shall not be held responsible
for any loss or damage resulting from a legal enactment (Swedish or foreign), the intervention of a public authority (Swedish or
foreign), an act of war, a strike, a blockade, a boycott, a lockout or any other similar circumstance. The reservation in respect
of strikes, blockades, boycotts and lockouts applies even if the Bank itself is subjected to such measures or takes such measures.

Any damage which occurs in other
circumstances shall not be compensated by the Bank, provided the Bank has exercised normal care. The Bank is in no case responsible
for indirect damage.

Where a circumstance as referred
to in the first paragraph should prevent the Bank from making a payment or taking other measures, such payment or measures may
be postponed until the obstacle no longer exists. In the event of a postponement of payment the Bank shall, if it is committed
to pay interest, pay such interest at the interest rate prevailing on the due date for the postponed payment. Where the Bank is
not committed to pay interest, the Bank shall not be obliged to pay interest at a higher rate than the prevailing reference rate
of Sveriges Riksbank pursuant to section 9 of the Interest Act (1975:635), plus two percentage points. Where a circumstance as
referred to in the first paragraph should prevent the Bank from receiving payments, the Bank shall, as long as the obstacle exists,
be entitled to interest only on the terms prevailing on the due date of the payment.

		30.	Applicable law

This contract shall be governed
in all respects by and construed in accordance with Swedish law.Exhibit 10.4

 

	Handelsbanken	Contract
    A
	 	Account with overdraft facility for purposes

other than personal consumption
	Branch	 
	Sundbyberg	 

 

	
         

        Borrower
	
        Facility No.

        237 861 178

	
        Name

        XPEEDIO SUPPORT SOLUTIONS AKTIEBOLA G
	
        Civic registration/Business organisation number

        556164-6281

	 
	Overdraft amount
	
        SEK (in numbers)

        3 000 000

	
        SEK (in words)

        THREEMILLION SEK

	 
	Overdraft period
	As from	To	Extension period, if any (number of months)

(section 7 in “General Terms”)
	2013-01-01 -	2013-12-31	12
	The Bank can in accordance with section 8 of the “General Terms” for the facility, suspend utilisation of the facility during the period of the facility and during any extension period and/or terminate the facility.
	 
	Interest
	The interest is payable as contract interest on the full overdraft amount and as utilisation interest on the borrower’s debt.  Contract interest is payable in advance at the beginning of the overdraft period.  The utilisation interest rate applies to the full overdraft amount utilised, unless otherwise specified here.
	
        Contract interest rate, currently %

        0,60

	
        Amount ranges for utilization interest

        Overdraft amount up to and including

        SEK

         

        3 000 000
	
        Utilisation interest rate, currently %

        The interest rate is subject to special terms relating to Money

        Market Accounts

         

        STIBOR T/N+ 1,30

	
        Due dates for utilisation interest, every (month, day)

        0331, 0630, 0930, 1231
	
        First due date for utilisation interest

         

	 
	The Bank’s undertaking
	Svenska Handelsbanken AB (publ) opens an account with overdraft facility for the borrower for up to the overdraft amount set out above on the terms and conditions stated in this Contract.
	 
	The Borrower’s undertaking
	The Borrower shall comply with the terms and conditions of this contract, some of which are reproduced in the “General terms” for the facility.  On expiry of the agreed overdraft period, the borrower shall, unless the Bank has agreed to an extension of the overdraft period in accordance with section 7 in the “General Terms” for the facility, immediately pay his debt under the contract.  When the borrower’s right to utilise the facility has expired, the borrower must immediately return unused cheques as well as any other instruments for operation of the account.
	 	 	 	 	 	 

    	 

    	 

    

Exhibit 10.4

 

	Handelsbanken	Contract
    A
	 	Account with overdraft facility for purposes

other than personal consumption
	Branch	 
	Sundbyberg	 

 

	Signature
	
        Place, date

         
	Place, date
	
        Borrower’s signature

         

        XPEEDIO SUPPORT SOLUTIONS AKTIEBOLA G
	
        Bank’s signature

         

        Svenska Handelsbanken AB (publ)

	
        Name in block letters

         
	Name in block letters
	 
	Notes by Handelsbanken
	Documents in order	
        Date

         
	Signature
	 	 	 

    	 

    	 

    

1 (5)

	Handelsbanken	TERMS
	 	Applying from May 2009
	 	 

 

General terms for Contract A – Account with overdraft
facility for purposes other than personal consumption, applying from May 2009

1. General terms for accounts held with
Handelsbanken.

The borrower disposes of the account in accordance with the
terms applying to the account to which the overdraft facility is linked. The Bank may withdraw funds from the account if the borrower
has ordered this or has approved that account may be debited.

The Bank may also debit the account with amounts corresponding
to interest, charges and costs which are associated with the account. The Bank may also debit the account with amounts corresponding
to fees, costs and outlays for orders effected on behalf of the borrower and for payment of other due claims which the Bank has
on the borrower.

When the Bank is entitled to debit the account as stated
in the previous paragraph, this may also be done as at a day which is a public holiday or equivalent day. It is the duty of the
borrower to ensure that a sufficiently large amount is available on the account when the debit occurs. If the borrower dies during
the contract period, the Estate of the deceased may not increase the debt on the account without the consent of the Bank.

2. Interest

The borrower shall pay utilisation interest to the Bank at
an annual rate computed on the overdraft amount outstanding at any time, plus contract interest on the granted overdraft amount.
The utilisation interest is calculated at the interest rate and on the grounds which the Bank applies to this type of facility
at any time. The interest rates applying when the facility was provided are set out on page one. If different interest rates are
applied for utilisation interest in different ranges of the overdraft amount, this is indicated on page one with the interest rates
applying when the contract is entered into.

In the event of extension of the facility, additional contract
interest is payable for each period of extension, this being payable in advance for the period concerned.

The borrower is liable for contract interest for the period
until the end of the overdraft period set out in the contract, without any obligation for the Bank to make a refund if the contract
should be terminated before then.

3. Unauthorised overdrafts

If the borrower’s debt to the Bank under this contract
exceeds the amount granted, the borrower shall upon demand pay the difference. In this case the borrower shall also pay interest
on the overdrawn amount at the rate and on the grounds applied by the Bank at any time and also an unauthorised overdraft fee as
set out in section 5 below. Unauthorised overdrafts also entitle the Bank to terminate the facility for repayment and/or suspend
utilisation of the facility in advance. In this case the provisions in section 8 will apply.

4. Penalty interest

If payment of principal, interest and/or charges is not effected
when due, the borrower shall pay special annual penalty interest on the overdue amount until payment is made. On amounts not overdue,
the usual interest rate continues to apply.

Penalty interest is calculated at the utilisation interest
rate applying to the facility, plus five percentage points or, when the entire facility is overdue, one percentage point.

5. Charges and costs

The account is subject to charges according to the terms
generally applied from time to time by the Bank. Particulars of current charges are available at any of the Bank’s branches.

The borrower shall reimburse the Bank for the costs and work
associated with obtaining, maintaining and utilising the security agreed upon as well as with the lodging of proof and collection
of the Bank’s claim on the borrower or on any other party liable for payment thereof. The Bank’s written payment reminders
shall thus also be reimbursed.

6. Order of debt settlement

When payment is made, the Bank in entitled to deduct all
the charges, costs and interest due on the facility before settling the principal amount.

7. Extension of overdraft period

If the Bank grants an extension of the overdraft period and
nothing is then stated to the contrary, the overdraft period will be extended by the number of months set out on page one, each
time such extension is granted.

 

    	 

    	 

    

 

2 (5)

	Handelsbanken	TERMS
	 	Applying from May 2009
	 	 

 

8. The Bank’s right to terminate the
facility and/or suspend utilisation of the facility

The Bank may terminate the facility for payment immediately or at
any time determined by the Bank and suspend utilisation of the overdraft facility, if any of the following circumstances should
apply:

		a)	the borrower has failed to meet his obligations under this contract or otherwise to the Bank,

		b)	the borrower has used the account improperly in a manner set out under section 3,

		c)	the security for the facility or for other obligations of the borrower towards the Bank is no longer satisfactory,

		d)	there is reasonable cause to assume that the borrower will not meet his payment obligations towards the Bank.

If any of the circumstances under the previous paragraph
should occur, the Bank is entitled, regardless of whether termination has been made, to immediately suspend the right to utilise
the facility further.

If the Bank has terminated the facility in accordance with
this section, the borrower shall immediately return unused cheques and other instruments for operating the account.

6. Order of debt settlement

When payment is made, the Bank in entitled to deduct all
the charges, costs and interest due on the facility before settling the principal amount.

7. Extension of overdraft period

If the Bank grants an extension of the overdraft period and
nothing is then stated to the contrary, the overdraft period will be extended by the number of months set out on page one, each
time such extension is granted.

8. The Bank’s right to terminate the facility and/or
suspend utilisation of the facility

The Bank may terminate the facility for payment immediately or at
any time determined by the Bank and suspend utilisation of the overdraft facility, if any of the following circumstances should
apply:

		a)	the borrower has failed to meet his obligations under this contract or otherwise to the Bank,

		b)	the borrower has used the account improperly in a manner set out under section 3,

		c)	the security for the facility or for other obligations of the borrower towards the Bank is no longer satisfactory,

		d)	there is reasonable cause to assume that the borrower will not meet his payment obligations towards the Bank.

If any of the circumstances under the previous paragraph
should occur, the Bank is entitled, regardless of whether termination has been made, to immediately suspend the right to utilise
the facility further.

If the Bank has terminated the facility in accordance with
this section, the borrower shall immediately return unused cheques and other instruments for operating the account.

9. Closing bill and refund

When the agreed overdraft period has expired and the Bank
has not allowed extension of the facility pursuant to section 7 or when the facility is payable in advance pursuant to section
8, the Bank shall prepare a closing bill.

The borrower must immediately pay the debt according to the
closing bill.

10. Definition of a pledge etc

‘Pledge’ also refers to property that is included
in a floating charge on assets. The term ‘pledger’ also refers to an assignor of floating charge, ‘pledging’
also refers to assignment of the floating charge and ‘pledge deed’ also refers to deeds associated with a floating
charge and pledge claims.

11. The Bank’s right to sell pledged
financial instruments

If the security for the facility consists in full or in part
of financial instruments and if the value for borrowing purposes assigned by the Bank declines, implying that the security is no
longer satisfactory, the borrower must at the request of the Bank immediately provide additional security. If such security is
not provided or if the Bank is unable to contact the borrower within a reasonable period of time, the Bank has the right, but not
the obligation, to sell the required portion of the financial instruments. The proceeds shall be deposited to an interest-bearing
account and continue to constitute a pledge for the facility. That which is stated above does not restrict the Bank’s right
to terminate the facility for immediate payment in accordance with section 8 and/or the right to immediately suspend utilisation
of the facility in accordance with section 8.

    	 

    	 

    

3 (5)

	Handelsbanken	TERMS
	 	Applying from May 2009
	 	 

 

 

12. Right of guarantor and pledger to prevent
extension of overdraft period.

A guarantor is not entitled to terminate his guarantee and
a pledger may not revoke his pledge.

However, any guarantor or pledger may separately not later
than six weeks before the due date of the facility, request in writing that the Bank shall not extend the facility. Such request
may imply that the guarantor becomes forced to pay by virtue of his guarantee, or that the Bank utilises a pledge. If the Bank
within the period set out in the preceding paragraph has received a request that the facility shall not be extended but nevertheless
extends the facility, the guarantee or pledge provided by the party making such request ceases to be valid. This does not apply,
however, if the Bank, due to the borrower’s negligence, before expiry of the aforementioned time period, has taken legal
action against the party opposing extension or has commenced negotiation with this party concerning the guarantee commitment or
pledge.

13. Sequence of utilisation of security

If the borrower fails to meet his obligations under the contract,
the Bank may determine the sequence in which the security (pledges, guarantees, etc.) shall be utilised.

14. General lien

Property pledged by the borrower in this contract shall also
constitute security for any other obligations towards the Bank for which the borrower is or may in the future be liable, in his
capacity as borrower, principal, account-holder, guarantor or otherwise as customer of the Bank. Such other obligation shall have
arisen before the borrower’s obligations under this contract have been met. The Bank shall determine in which order the obligations
are to be settled out of the proceeds of the pledge. However, account must be taken of the right of guarantors according to section
22.

Property thus pledged shall not, however, by reason of the
pledge, constitute security for the borrower’s obligations on account of bills of exchange which have been discounted, or
which may be discounted at the Bank by a third party, unless they concern the renewal of bills, or have otherwise replaced bills
originally discounted by the borrower. Neither shall the property thus pledged secure any other claims on the borrower which the
Bank has acquired or may acquire from a third party.

15. Yield on property pledged

Yield and all other rights based on the pledge are also covered
by the pledging and constitute a pledge. Thus, the pledging of shares, for example, includes the right for the Bank to participate
in bonus issues, new issues and other issues for which the shares qualify. As stated in section 16, the Bank is, however, not liable
for ensuring that such rights are safeguarded. Where this nevertheless occurs, the Bank is accountable to the pledger.

16. Safeguard by the Bank of the pledge

The Bank has a duty to take good care of the pledge. Where
appropriate, the Bank shall renew limitation periods and lodge proof of claim in case of summons of unknown creditors and also
in bankruptcies, where the pledger so requests after commencement of the bankruptcy. Where announcement has been made regarding
the cancellation of a pledged document, the Bank shall give notice that it holds the document. However, the Bank is not obliged
to take any of these measures regarding certificates of claim consisting of coupons or which are intended for the open market,
such as bonds, or to which Swedish law does not apply.

The Bank is not obliged to maintain personal liability for
payment in respect of mortgaged instruments of debt.

The Bank’s safeguard of the pledge does not extend
beyond what has been stated above. Thus the Bank is not, for example, as far as securities are concerned, obliged to collect dividends
and interest or observe the pledger’s rights in connection with issues, exchanges of shares, conversions, distributions of
the net assets, etc.

17. How a pledge may be utilised by the Bank

The Bank may utilise a pledge as the Bank deems fit. In this
respect, the Bank shall proceed with care and, where possible and if in the opinion of the Bank it can be accomplished without
prejudice to the Bank, notify the pledger to this effect in advance.

When applying the above, a financial instrument can be sold
in a different way than on a market where the instrument is registered or is normally traded.

 

    	 

    	 

    

4 (5)

	Handelsbanken	TERMS
	 	Applying from May 2009
	 	 

 

If the pledge consists of funds deposited in an account with
the Bank, the Bank may immediately debit the account in reimbursement of the amount due, without informing the pledger in advance.

Should the pledge consist of an instrument of debt, for which
the pledger is liable personally or with certain property, the instrument is, with respect to the pledger, due for payment on demand,
regardless of the due date stipulated in the instrument.

18. The Bank’s right to sign on behalf
of the pledger

Through his pledging, the pledger authorises the Bank, or
anyone appointed by the Bank, to sign on behalf of the pledger, where this is necessary in order to safeguard the Bank’s
right of pledge. This authorisation may not be revoked as long as the pledging is in force.

19. Release of pledge

The Bank may release pledges without being bound to observe
any right to the pledge which may accrue to a guarantor who has made payment to a party other than the Bank by virtue of his guarantee.

20. Transfer of unpledged deeds of mortgage

When the Bank no longer holds the pledge and has not been
informed of a new pledge-holder or received a request that a written deed of mortgage shall be issued, the Bank is entitled to
transfer an electronic deed of mortgage to the National Land Survey’s register of mortgages for which no other mortgage holder
is registered, known as the Public Archive.

21. Payment by guarantor

If a guarantor makes payment to the Bank on account of his
guarantee, he shall specifically notify the Bank that he is paying in his capacity as guarantor and request that this fact be noted
by the Bank.

22. Guarantor’s right to pledges

If a guarantee has been signed on this contract, the following
shall apply with regard to the guarantor’s right to pledges in this contract by the borrower alone or jointly with another:
The pledge shall constitute security for the guarantor’s claim for recourse against the borrower to the extent that it is
not utilised by the Bank for the borrower’s obligations under this contract. When the pledge constitutes security for the
right of recourse of several guarantors, they shall have the right to the pledge in proportion to the right of recourse of each
of them, unless they agree otherwise.

In relation to the Bank, a guarantor is not entitled to any
other property which has been pledged to the Bank by the borrower or another party.

The Bank may release yield from the pledge which is not required
for payment of amounts due under this contract, without thereby reducing the liability of any guarantor.

23. How the pledge may be utilised for a
guarantor’s right of recourse

Where a guarantor has made payment to the Bank by virtue
of his guarantee, he may make use of his right to a pledge under section 22 only when the Bank has received payment in full for
its claim under this contract. If he wishes to exercise this right, the Bank is entitled to choose between releasing the pledge
to the guarantor or utilising the pledge on behalf of the guarantor. Section 17 shall apply in this connection.

24. Property pledged by another party than
the borrower

Property pledged on this contract by another party than the
borrower shall constitute security only for the borrower’s obligations under this contract, unless otherwise agreed. Without
any reduction of the Bank’s right to property which another party than the borrower has pledged on this contract, the Bank
is entitled to release property pledged by the borrower or any other party, which has not been pledged on this contract, as well
as the yield on such property. The Bank is also entitled to release the yield on property pledged on this contract by the borrower
or any other party, if the yield is due for payment but is not required to cover interest or costs due under the contract.

25. Cancellation of the contract

The contract will be cancelled one month after the overdraft
has been repaid in full, unless the borrower has asked in advance for it to be returned.

26. Insurance

Property which constitutes security for the Bank’s
claim shall be satisfactorily insured with an insurer approved by the Bank.

If the borrower fails to show proof that insurance as prescribed
above is in force, the Bank shall be entitled to arrange for such insurance at the borrower’s expense.

    	 

    	 

    

5 (5)

	Handelsbanken	TERMS
	 	Applying from May 2009
	 	 

 

27. Processing of personal data

Personal data submitted to the Bank in connection with a
credit application or otherwise registered in connection with processing or administration of this credit will be subject to such
processing in computer systems at the Bank as required by the credit agreement. This includes information about contacts between
the borrower and the Bank.

The personal data are also used for marketing and customer
research, business and methods development and risk management in the Handelsbanken Group. Risk management also involves processing
of information on the borrower and loans to assess the quality of loans for purposes of capital adequacy.

The personal data are also used for marketing purposes, unless
the borrower has requested a block on direct advertising from the Bank. The processing of personal data can – within the
framework of current bank confidentiality regulations – take place with other Group companies and other companies with whom
the Bank co-operates in its operations.

If borrowers want to receive information about their personal
data which is being processed by the Bank, they can request this in writing from their respective branch of the Bank. Requests
to correct incomplete or incorrect personal data can be made at the Bank branch or sent to Handelsbanken, Central auditing department,
SE-10670 Stockholm.

The above statements regarding borrowers also apply to guarantors,
if any, or other pledgers than the borrower.

28. Notices, etc.

The borrower, guarantors and pledgers shall notify the Bank
of any changes of address, phone and fax number.

Registered letters regarding the overdraft facility which
the Bank has forwarded to any of the parties mentioned above shall be deemed to have reached the addressee not later than on the
seventh day after despatch if the letter has been sent to the address which is known to the Bank.

Notices sent by fax shall be deemed to have reached the addressee
no later than the next business day if the fax message was sent to a number which the addressee has submitted to the Bank. A business
day is a day other than Sunday, public holiday, Saturday, Midsummer’s Eve, Christmas Eve or New Year’s Eve.

The provisions do not apply to notices renewing limitation
periods.

29. Limitation of the Bank’s liability

The Bank shall not be held responsible for any loss or damage
resulting from a legal enactment (Swedish or foreign), the intervention of a public authority (Swedish or foreign), an act of war,
a strike, a blockade, a boycott, a lockout or any other similar circumstance. The reservation in respect of strikes, blockades,
boycotts and lockouts applies even if the Bank itself is subjected to such measures or takes such measures.

Any damage which occurs in other circumstances shall not
be compensated by the Bank, provided the Bank has exercised normal care. The Bank is in no case responsible for indirect damage.

Where a circumstance as referred to in the first paragraph
should prevent the Bank from making a payment or taking other measures, such payment or measures may be postponed until the obstacle
no longer exists. In the event of a postponement of payment the Bank shall, if it is committed to pay interest, pay such interest
at the interest rate prevailing on the due date for the postponed payment. Where the Bank is not committed to pay interest, the
Bank shall not be obliged to pay interest at a higher rate than the prevailing reference rate of Sveriges Riksbank pursuant to
section 9 of the Interest Act (1975:635), plus two percentage points. Where a circumstance as referred to in the first paragraph
should prevent the Bank from receiving payments, the Bank shall, as long as the obstacle exists, be entitled to interest only on
the terms prevailing on the due date of the payment.

30. Applicable law

This contract shall be governed in all respects by and construed
in accordance with Swedish law.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00226-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00226-of-00352.parquet"}]]