Document:

Exhibit 10.3
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      P R I M A
      OIL & GAS COMPANY
      1801 Broadway, Suite 500
      Denver, Colorado 80202
      Tel:  303-297-2300
      Fax:  303-297-7708
      www.primaenergy.com                               March 24, 1999

Exhibit 10.3
------------

Unioil
Joseph Associates of Greeley, Inc.
P.O. Box 310
Evans, CO  80620

                                                   RE:   Farmout/Farmout Option
                                                         Agreement dated 11/7/96
                                                         Weld County, Colorado

Gentlemen:

       Pursuant to that certain  Farmout/Farmout Option Agreement dated November
7, 1996, between Unioil,  Joseph Associates of Greeley, Inc. and Prima Oil & Gas
Company,  Prima's rights under the Agreement terminate December 31, 1999. Due to
the low oil and gas  prices,  Prima does not feel it would be  economic to drill
these  locations  this  year.  Therefore,  Prima  hereby  requests  an 18  month
extension  of the  Farmout/Farmout  Option  Agreement  to  drill  the  remaining
locations covered by the Agreement.  This would change the termination date from
December 31, 1999 to June 30, 2001 to drill the remaining locations.

       If you are in agreement with the foregoing, please sign and date one copy
of this letter and return it to us as soon as possible.

       Thank you for your cooperation in this matter.

                                                    Sincerely,
                                                    PRIMA OIL & GAS COMPANY

                                                    /s/ Cindi Danner

                                                    Cindi Danner, CPL
                                                    Landman

Unioil  and  Joseph  Associates  of  Greeley,  Inc.  hereby  agree to extend the
termination date of that certain Farmout/Farmout Option Agreement dated November
7, 1996, from December 31, 1999 to June 30, 2001.

UNIOIL                                        JOSEPH ASSOCIATES OF GREELEY, INC.

/s/ F. C. Jones   3-25-99                     /s/ F.C. Jones   3-25-99
----------------------------------            ----------------------------------

Printed Name:    F. C. Jones                  Printed Name:    F. C. Jones
             ---------------------                         ---------------------
Title:  VP & Sec                              Title:  VP & Sec
      ----------------------------                  ----------------------------EXHIBIT
10.1

 

 

THIRD
AMENDMENT 

TO

AMENDED
AND RESTATED LOAN AGREEMENT

THIS
THIRD AMENDMENT TO AMENDED AND RESTATED LOAN AGREEMENT is made and entered into
as of April 28, 2005 by and between Acceris Communications Inc., formerly known
as I-Link Incorporated, a Florida corporation (the “Borrower”) and
Counsel Corporation (US), a Delaware corporation (the “Lender”).

WHEREAS,
the Borrower and Lender are parties to an Amended and Restated Loan Agreement as
further amended, dated January 30, 2004 (the "Loan
Agreement”) and
the parties desire to further amend the Loan Agreement with effect from March
31, 2005 (“the Effective
Date”) as
provided herein.

NOW,
THEREFORE, for good and valuable consideration the receipt and adequacy of which
is hereby acknowledged it is agreed as follows:

1. Extension
of Maturity Date.
Effective as of the Effective Date, Section 2 of the Loan Agreement is hereby
amended and restated in its entirety to read as follows:

All
borrowings hereunder, together with any interest thereon, shall be due and
payable to CCUS in one installment on April 30, 2006 (the “Maturity
Date”).
Interest shall accrue and be compounded quarterly and shall result in a
corresponding increase in the principal amount of the Indebtedness.

2. Effect
on Loan Agreement and Loan Note. This
Third Amendment is not intended, nor shall it be construed, as a modification or
termination of the Amended and Restated Debt Restructuring Agreement, dated
October 15, 2002. Except as expressly provided herein, the Loan Agreement and
the Note annexed thereto are hereby ratified and confirmed and remain in full
force and effect in accordance with their respective terms. 

IN
WITNESS WHEREOF, the Borrower and the Lender have executed this Third Amendment
as of April 28, 2005 .

[See
attached signature page]

 

[Signature
page to Third Amendment to Amended and Restated Loan Agreement, dated
January
30, 2004]

	 	 	 
	 	ACCERIS COMMUNICATIONS INC.
	 
 	 
 	 
 
	 	By:  	
	 	
      

      Name: 
	 	Title: 

 

	 	 	 
	 	COUNSEL CORPORATION
      (US)
	 
 	 
 	 
 
	 	By:  	 
	 	
      

      Name:
	 	Title:EXHIBIT
10.2

THIRD
AMENDMENT

TO

LOAN
AGREEMENT

THIS
THIRD AMENDMENT TO LOAN AGREEMENT is made
and entered into as of April 28, 2005, by and between, Counsel Corporation (US),
a Delaware corporation, (“Lender”) and Acceris Communications Inc. (formerly
known as I-Link Incorporated), a Florida corporation (“Borrower”) (hereinafter
collectively referred to as the “Parties”).

WHEREAS, Acceris
Communications Corp. (formerly known as WorldxChange Corp., a Delaware
corporation (“WorldxChange”)), Lender and Borrower entered into a Loan and
Security Agreement dated June 4, 2001, as heretofore amended (the “2001 Loan
Agreement”); and 

WHEREAS,
pursuant to an Assignment and Assumption Agreement dated as of October 1, 2003,
between Lender and Borrower, Lender assigned to Borrower the total principal
plus accrued interest of the indebtedness represented by and subject to the 2001
Loan Agreement and the Promissory Note of even date issued by WorldxChange in
the principal amount of Nine Million Seven Hundred Forty-Three Thousand Four
Hundred Seventy-Nine and 16/100ths Dollars ($9,743,479.16) (the “Assigned
Debt”); and 

WHEREAS,
Borrower and WorldxChange entered into that Stock Subscription and Purchase
Agreement dated as of October 1, 2003 (the “Subscription Agreement”) pursuant to
which Borrower contributed the Assigned Debt to WorldxChange in partial
consideration for the issuance by WorldxChange of 221 shares of WorldxChange
Common Stock; and

WHEREAS,
Borrower issued its Secured Promissory Note as of October 1, 2003, to Lender in
the principal amount of Nine Million Seven Hundred Forty-Three Thousand Four
Hundred Seventy-Nine and 16/l00ths Dollars ($9,743,479.16), which indebtedness
is subject to the terms and conditions of the Loan Agreement as amended;
and

WHEREAS, the
repayment of the indebtedness represented by the Secured Promissory Note, (as
the same may be amended, modified, extended or restated, the “Secured Promissory
Note”) is secured pursuant to that Stock Pledge Agreement (as the same may be
amended, modified, extended or restated, the “Stock Pledge Agreement”) between
the Lender and the Borrower pursuant to which the Borrower granted to Lender a
security interest in the Collateral described therein including all of the
shares of common stock of WorldxChange issuable or issued to Borrower.

WHEREAS, the
Parties desire to further document, ratify and confirm the amendment to the Loan
Agreement effective as of March 31, 2005 (the “Effective
Date”).

NOW,
THEREFORE, for
good and valuable consideration the receipt and adequacy of which is hereby
acknowledged it is agreed as follows:

1. Maturity
Date.
 Effective
as of the Effective Date, Section 1.4 of the Loan Agreement is hereby amended
and restated in its entirety to read as follows:

“Section
1.4. Principal
Repayment The
outstanding principal balance of the Loan plus any accrued and unpaid interest
thereon, together with any and all other Liabilities (as such term is defined in
the Stock Pledge Agreement (collectively, the “Secured Obligations”), shall be
due and payable on April 30, 2006 (the “Maturity Date”).”

 

 

2. Effect
on Loan Agreement and Loan Note. This
Third Amendment is not intended, nor shall it be construed, as a modification or
termination of the Amended and Restated Debt Restructuring Agreement, dated
October 15, 2002. Except as expressly provided herein, the Loan Agreement is
hereby ratified and confirmed and remains in full force and effect in accordance
with its terms. 

IN
WITNESS WHEREOF, the
Parties have executed this Third Amendment as of the date first set forth
above.

[See
attached signature page]

Signature
page

to

Third
Amendment to Loan Agreement

dated
as of April 28, 2005

 

 

	 	 	 
	 	COUNSEL CORPORATION
      (US)
	 
 	 
 	 
 
		By: 	 
	 	
      

      Name:
	 	Title: 

 

	 	 	 
	 	ACCERIS COMMUNICATIONS
      INC.
	 
 	 
 	 
 
		By:  	 
	 	
      

      Name:
	 	Title:EXHIBIT
10.3

SIXTH
AMENDMENT

TO

SENIOR
CONVERTIBLE LOAN AND SECURITY AGREEMENT

 

THIS
SIXTH AMENDMENT TO SENIOR CONVERTIBLE LOAN AND SECURITY
AGREEMENT is made
and entered into as of April 28, 2005 , by and between Acceris Communications
Inc. (formerly known as I-Link Incorporated), a Florida corporation (the
“Borrower”) and
Counsel Corporation, an Ontario corporation (“Counsel Corp”), and Counsel
Capital Corporation, an Ontario corporation (“Counsel Capital”), (collectively
hereinafter referred to as the “Parties”).

WHEREAS, Counsel
Communications, LLC, a Delaware limited liability company (“CCOM”) having
assigned ninety percent (90%) of its right title and interests in the Loan
Agreement (as hereinafter defined) subject to the Amended Debt Restructuring
Agreement (as hereinafter defined) on October 31, 2001, to Counsel Corp and ten
percent (10%) of its right, title and interests to Counsel Capital (hereinafter
Counsel Corp and Counsel Capital collectively referred to as the “Lender”);
and

WHEREAS, the
Borrower and the Lender are Parties to a Senior Convertible Loan and Security
Agreement, dated March 1, 2001 as amended by the First, Second, Third, Fourth
and Fifth Amendments to Senior Convertible Loan and Security Agreement, dated
May 8, 2001, March 1, 2003, November 19, 2003, June 30, 2004 and December 7,
2004 (collectively the “Loan
Agreement”) and
subject of the Amended and Restated Debt Restructuring Agreement dated October
15, 2002 between Borrower, Counsel Corporation (US), a Delaware corporation, and
CCOM (the “Amended
Debt Restructuring Agreement”);
and

WHEREAS, the
Parties, inter alia, desire to amend the Loan Agreement effective as of March
31, 2005 (the “Effective
Date”) as
provided herein.

NOW,
THEREFORE, for
good and valuable consideration, the receipt and adequacy of which is hereby
acknowledged, the Parties agree as follows:

1. Extension
of Maturity Date.
Effective as of the Effective Date, Section 4 of the Loan Agreement is hereby
amended and restated in its entirety to read as follows:

“Section
4. Term. This
Agreement shall be effective from the date hereof and shall terminate on April
30, 2006, unless terminated earlier pursuant to the default provisions of this
Agreement (the “Maturity
Date”).
Principal and interest shall be due and payable on the Maturity
Date.”

	2.  	
      Effect
      on Loan Agreement and Loan Note.
      This Sixth Amendment is not intended, nor shall it be construed, as a
      modification or termination of the Amended Debt Restructuring Agreement.
      Except as expressly provided herein, the Loan Agreement and the Loan Note
      annexed thereto are hereby ratified and confirmed and remain in full force
      and effect in accordance with their respective terms.

[See
attached signature page]

 

 

Signature
page 

to

Sixth
Amendment to Senior Convertible Loan and Security Agreement

dated
as of April 28, 2005

IN
WITNESS WHEREOF, the
Borrower and the Lender have executed this Sixth Amendment as the date first set
forth above.

 

	 	 	 
	 	ACCERIS COMMUNICATIONS
      INC.
	 
 	 
 	 
 
	 	By:  	  
	 	
      

      Name: 
	 	Title: 

 

	 	 	 
	 	COUNSEL
      CORPORATION
	 
 	 
 	 
 
	  	By:  	  
	 	
      

      Name: 
	 	Title: 

 

	 	 	 
	 	COUNSEL CAPITAL
      CORPORATION
	 
 	 
 	 
 
	 	By:  	  
	 	
      

      Name: 
	 	Title:

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