Document:

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                                                                    Exhibit 10.1

Note: Portions of this exhibit indicated by "[*]" are subject to a confidential
treatment request, and have been omitted from this exhibit. Complete, unredacted
copies of this exhibit have been filed with the Securities and Exchange
Commission as part of this Company's confidential treatment request.

                                SUPPLY AGREEMENT

This Supply Agreement (the "Agreement") is made effective as of the 14th
day of September, 2001, (the "Effective Date"), by and between Airspan
Communications Ltd., a company organised under the laws of England and Wales,
with its principal place of business at Cambridge House, Oxford Road, Uxbridge,
Middlesex, UB8 1UN, England ("ACL"), and Monarch Communications Limited a
company organised under the laws of Nigeria with its principal office at Orbital
House, No 180, Awolowo Road, Ikoyi, Lagos, Nigeria ("Purchaser").

                                   WITNESSETH:

WHEREAS, ACL is engaged in the design and manufacture of various
telecommunications product lines including, among others, those ACL products
more completely described in Exhibit A hereto (the ACL products described in
Exhibit A of this Agreement, as from time to time amended in accordance with the
provisions of this Agreement, are hereinafter called the "ACL Products"); and

WHEREAS, Purchaser is engaged in the operation of telecommunications systems;
and

WHEREAS, during the Term (as defined below) of this Agreement, ACL desires to
supply to Purchaser, and Purchaser wishes to acquire from ACL, the ACL Products
on the terms and conditions contained in this Agreement.

NOW, THEREFORE, in consideration of the mutual promises herein contained, it is
hereby agreed as follows:

1.    SCOPE.

      1.1.This Agreement shall remain in effect for a period of 3 years from the
      Effective Date (the "Term").

      1.2. During the Term, in accordance with each purchase order issued by
      Purchaser and accepted by ACL, ACL shall:

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            a. Engineer, sell, and deliver that equipment so specified in the
            order ("Equipment" being defined as the hardware component of each
            product being offered under the terms and conditions of this
            Agreement);

            b. Grant to Purchaser a non-transferable, non-exclusive, paid-up
            licence to use the Software (as defined in Section 10.1) during the
            useful life of the associated Equipment on the terms and conditions
            set forth in the Software Licence, Section 10; and

            c. Test, install and commission the Equipment and/or Software and
            integrate the Equipment and/or Software in accordance with ACL's
            specification therefor with third party equipment agreed upon by
            both parties (the "Installation Services") if such services are
            included in the price of the Equipment or Software or if such
            services are ordered separately.

            d. Train Monarch staff to enable them engineer, operate and maintain
            the system. In this regard, training shall be provided by ACL for
            all facets of the Hardware and Software components of the ACL
            Products as follows:

            i.    Pre-Installation: against Purchaser's first order only ACL
                  will provide a single training course in Uxbridge for up to
                  seven (7) of Purchaser's engineers without additional charge
                  to Purchaser;

            ii.   Installation: on-the-job training will be provided to a
                  limited number of Purchaser's engineers during the provision
                  of Installation Services by ACL ;

            iii.  Post Installation [Operation and Maintenance]: training will
                  be provided by ACL at the times and location(s) agreed upon by
                  the parties at the rates set forth in Exhibit B, the Price
                  List.

      1.3.  ACL will also cooperate with Purchaser to develop Purchaser's post
            project operations management strategy , which will incorporate
            manning levels and skills requirements. The parties will develop a
            draft proposal by 30 September 2001 for review by Purchaser.

      1.4   ACL will make spare parts available for purchase by Purchaser for a
            period of ten years from the date of Shipment of the corresponding
            Equipment.

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2.    ORDERING PROCEDURE.

      2.1 The following procedures shall be followed with respect to each
      purchase order issued by Purchaser:

      a. During the Term, Purchaser will inform ACL of its intent to purchase
      Equipment and Installation Services, and license Software, by sending to
      ACL a written order. This written order (the "Purchase Order") will state
      the type of Equipment, System, or Installation Services that Purchaser
      wants to purchase and the Software Purchaser wants to licence as well as
      the price of the ordered items (the "Contract Price").

      b. Each Purchase Order shall specifically incorporate by reference the
      terms and conditions of this Agreement, and no additional or different
      terms and conditions stated in a Purchase Order, any letter, or otherwise
      shall be binding unless expressly referred and agreed to by both parties
      in writing. In the event of a conflict between the terms and conditions of
      this Agreement and of any Purchase Order issued hereunder, or if the
      Purchase Order does not reference the terms and conditions of this
      Agreement, the terms and conditions of this Agreement shall prevail.

      2.2 TYPE APPROVAL

      ACL shall provide to the Purchaser a copy of the Nigerian Communications
      Commission Type Approval Certificate, which allows the products on order
      to be used in Nigeria.

3.    EQUIPMENT FOR MONARCH NIGERIA PROJECT

      3.1. ACL has agreed to provide and Monarch has agreed to provide
      equipment, software and services set forth in the Schedule of Equipment
      for the initial order for the Monarch Nigeria Project attached to this
      Agreement as Exhibit B. and incorporated herein as part of the agreement
      at the price detailed and on the terms and conditions specified in Exhibit
      B. The parties agree that the terms and conditions specified in Exhibit B.
      shall govern the supply and purchase of the equipment, software and
      services listed therein for the initial order.

      3.2. CONTRACT PRICE.

      3.2.1. The Contract Price for each item of Equipment, Installation
      Services, or Software is as specified in Exhibit B and shall be paid to
      ACL in US Dollars (USD or US$).

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      3.2.2. The Contract Price for Equipment and Software includes:

            a.    The price of the Equipment;

            b.    The fee for the licensing of the Software;

            c.    The charges for the warranty of the Equipment and Software in
                  accordance with Section 7;

            d.    Transportation and insurance charges in accordance with ACL's
                  Contract Price set forth in Section 3.2.4 and ACL's delivery
                  obligations set forth in Section 5.1;

            e.    Charges for training Monarch staff in accordance with
                  Paragraph 1.2(d).i and 1.2(d).ii; and

      3.2.3. The Contract Price for Installation Services includes:

            a.    The price for installation and commissioning the Equipment and
                  Software including the integration of the Equipment and/or
                  Software in accordance with ACL's specification therefor with
                  third party equipment as agreed upon by both parties. ACL
                  shall provide all necessary tools and test equipment required
                  for the installation, testing and commissioning of the
                  Equipment and Software. Commissioning includes successful
                  completion of the Commissioning tests agreed upon by the
                  parties and set forth in Exhibit C.

            b.    ACL's Contract Price for Installation and Commissioning is
                  quoted separately for: (i) infrastructure (i.e. ACs and CTs);
                  and (ii) Subscriber Terminal (STs).

      3.2.4. All prices quoted in Exhibit B are CIP, Lagos Port Nigeria .

4.    PAYMENT TERMS.

      4.1 If a Purchase Order is accepted by ACL, ACL will issue an invoice (the
      "Invoice") to Purchaser within fifteen (15) business days of ACL's receipt
      of the written Purchase Order from Purchaser. The Invoice specifically
      shall identify the Equipment, Software, or Systems so ordered, and the
      Contract Price of such items. Installation Services shall separately be
      invoiced within fifteen (15) business days of ACL's receipt of a written
      Purchase Order for same. The Invoice also shall state the total amount due
      to ACL from Purchaser (.

      4.2 The Purchaser shall open a confirmed irrevocable documentary Letter of
      Credit in favour of ACL with a bank acceptable to ACL in

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      respect of payments for Equipment and Software listed in Appendix A and
      such installation services to be provided by ACL under this agreement. The
      Letter of Credit shall be in an amount equal to the value of the total
      Contract Price (equipment and installation) and shall have a validity
      period of 180 Days.

      4.2.1. Draw down on the Letter of Credit shall be as follows:

      a.    Ten [10] percent of the total value of the contract price as down
            payment for which ACL shall issue a Bank Bond in favour of the
            Purchaser.

      b.    Fifty [50] percent of the value of the Equipment and Software
            ordered shall be paid to ACL fifty (50) days after the date of
            Delivery on the presentation of the following documents

            i.    ACL attested Invoice;
            ii.   Final Invoice;
            iii.  Airwaybill of lading
            iv.   Packing List.
            v.    Clean report of finding.

      c.    The balance of forty [40] percent of the value of the Equipment and
            Software in the Purchase Order shall be paid one hundred and fifty
            (150) days after the date of Delivery.

      4.2.2. The balance of the 90% of installation charges shall be paid as
      follows:

            o     50% on the start of installation; and

            o     40% on completion of installation.

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      4.3 In the case of payment by wire (or telegraphic) transfer, the funds
      due must be received in ACL's designated bank. The transfer instructions
      are:

      Bank:                  Lloyds Bank
                             32 Commercial Way
                             Woking
                             Surrey
                             GU21 1ER
                             England

      Sort Code:             30-99-80

      Account Name:          ACL Communications Limited

      Account No:            11232312

      Further Instructions:  Reference (Purchaser's name)
                             P.O. No. _______,
                             Payment of Invoice No. _________.

5.    DELIVERY, TITLE, AND RISK OF LOSS.

      5.1.  ACL shall make arrangements for the delivery of all Equipment and
            Software ordered by Purchaser as detailed in Exhibit B, CIP Lagos
            Port Nigeria as per Incoterms 2000 ("Delivery"); upon which
            Purchaser will make arrangements for their collection from the Port.
            ACL agrees to use a reputable freight forwarder which it shall
            identify to the Purchaser prior to shipment; and the parties shall
            agree upon the mode of shipment and the carrier.

            In this Agreement, "Incoterms" means the most recent international
            rules for the interpretation of trade terms published by the
            International Chamber of Commerce as in force at the date when this
            Agreement is made. Unless the context otherwise requires, any term
            or expression which is defined in or given a particular meaning by
            the provisions of the Incoterms shall have the same meaning in this
            Agreement, but if there is any conflict

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            between the provisions of the Incoterms and this Agreement, the
            latter shall prevail.

      5.2.  All risk of loss or damage to the Equipment and Software will pass
            to Purchaser upon Delivery.

      5.3.  Title to the Equipment shall pass to Purchaser on Delivery.

      5.4.  The Software shall at all times remain the exclusive property of
            ACL.

      5.5.  ACL shall not make partial deliveries of Purchaser's orders unless
            the Purchaser has been advised and has agreed in writing to accept
            such partial delivery in respect of any particular order, such
            agreement not to be unreasonable withheld or delayed

      5.6.  ACL will use reasonable efforts to meet Purchaser's requested
            delivery schedules for Equipment and Software, but ACL reserves the
            right to refuse, cancel, or delay delivery to Purchaser when
            Purchaser's credit is impaired, when Purchaser is delinquent in
            payments or fails to meet other credit or financial requirements
            reasonably established by ACL, and agreed by the parties in writing.
            Should orders for Equipment and Software exceed ACL's available
            inventory, ACL will disclose its available inventory and make
            deliveries on a basis discussed and agreed with the Purchaser. ACL
            shall not be liable for any indirect, consequential, or special
            losses or damages (including, but not limited to, loss of income or
            profit and loss of data) that may be suffered by the Purchaser or by
            any other person for failure to deliver or for any delay or error in
            delivery of Equipment or Software for any reason whatsoever.

      5.7.  In the event that the actual date of Shipment is later than the
            agreed upon date of Shipment for an accepted Purchase Order or part
            thereof, Purchaser may levy a penalty of two percent (2%) per week
            of the Contract Price of the Equipment and/or Software directly
            affected by the delay up to a maximum amount of twelve percent (12%)
            of the Contract Price of such affected Equipment or Software. Such
            penalty must be invoiced by the Purchaser within thirty (30) days of
            the actual date of Shipment and ACL will pay such invoices within
            thirty days of receipt or will set-off such amounts against amounts
            due and payable to ACL. A two-week grace period will apply before
            Purchaser may levy a penalty but if the delayed Equipment or
            Software is not delivered during the grace period, the penalty may
            be levied from the first day of delay. .

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      5.8.  If Purchaser has any ACL owned Equipment in its possession then:

            a. Purchaser shall ensure that Equipment is clearly marked as the
            property of ACL, and if asked, shall inform any third parties that
            the Equipment is the property of ACL;

            b. Purchaser shall not purport to create any security, mortgage,
            lien or pledge over the Equipment, or otherwise deal with the
            Equipment without ACL's express written consent; and

            c. In the event of any threatened seizure of the Equipment by any
            third parties, and on termination or expiration of this Agreement,
            or any contract made pursuant to it, ACL shall have the right to
            obtain a court order to restrain and /or prevent such seizure;
            without prejudice to any other remedy which it may have at law in
            respect of the equipment.

6.    SUBCONTRACTING

      ACL reserves the right to subcontract such portions of: (a) the Equipment
      manufacture and/or Software development and supply; and/or (b)
      installation to subcontractors of ACL's choice as ACL deems appropriate.

      The prior written consent of the Purchaser shall be obtained for any sub
      contract or assignment in accordance with Paragraph 6(b) above, such
      consent not to be unreasonably withheld or delayed; so however that ACL
      shall not be relieved of any of its obligations under this agreement by
      reason of such subcontract or assignment.

7.    WARRANTY.

      7.1 THE WARRANTIES SET FORTH IN SECTIONS 7 AND 8 OF THIS AGREEMENT ARE IN
      LIEU OF, AND ACL HEREBY DISCLAIMS, ALL OTHER WARRANTIES AND CONDITIONS,
      WHETHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION THE IMPLIED TERMS
      OF SATISFACTORY QUALITY AND FITNESS FOR A PARTICULAR PURPOSE.

      7.2 Subject to Sections 7.3 and 7.4, ACL warrants that the Equipment sold
      to Purchaser under this Agreement shall, under normal use and service, be
      free from defects in materials and faulty workmanship, and that the
      Software licensed to Purchaser under this Agreement shall conform in all
      material respects to ACL's published specifications therefor. The warranty
      period for any item of Equipment and related

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      Software shall be eighteen (18) months from Delivery (hereinafter, this
      period of time shall be referred to as the " Warranty Period.")

      7.3 ACL's obligation and Purchaser's sole remedy under this warranty are
      limited to the replacement or repair, , of the defective Equipment or
      Software within the Warranty Period. ACL shall have no obligation to
      remedy any such defect if it can be shown that: (a) the Equipment or
      Software was altered, repaired, or reworked by any party other than ACL
      without ACL's prior written consent; (b) such defects were the result of
      Purchaser's or a third party's improper storage, mishandling, abuse, or
      misuse of the Equipment or Software; (c) such defects were the result of
      Purchaser's or a third party's use of the Equipment or Software in
      conjunction with equipment electronically or mechanically incompatible or
      of an inferior quality; or (d) the defect was the result of damage by
      fire, explosion, power failure, or any act of nature.

      7.4 The Purchaser may require ACL to provide on-site operation and
      maintenance services on such terms and conditions agreed by the parties.

      7.5   Subject to the provisions of this warranty clause, defective parts
            or components must be returned by Purchaser to ACL's point of
            manufacture facility, freight prepaid, within the Warranty Period,
            and said defective parts will be repaired or replaced by ACL at no
            charge to Purchaser. In connection with such return by Purchaser,
            Purchaser shall comply with ACL's (Return Material Authorisation
            (RMA) procedures.) Risk of loss or damage to Equipment or Software
            returned to ACL for repair or replacement shall be borne by
            Purchaser until delivery to ACL. Upon delivery of such Equipment or
            Software, ACL shall assume the risk of loss or damage until that
            time that the Equipment or Software being repaired or replaced is
            returned and delivered to Purchaser. Purchaser will pay the
            transportation costs for Equipment or Software shipped to ACL for
            repair or replacement save where the repair or replacement arose out
            of faulty and defective design in workmanship or manufacture of the
            equipment or software

      7.6   . ACL shall pay all transportation costs associated with returning
            repaired or replaced Equipment or Software to Purchaser unless there
            was no fault found (NFF), in which event, Purchaser shall pay such
            transportation costs along with ACL's then prevailing NFF charge.

      7.7 ACL will charge Purchaser for any maintenance carried out which is not
      covered by the warranties contained in Section 7.2 or Section 8 at the
      rates agreed by the parties for such services.

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8.    WARRANTY ON REPAIRED MATERIALS.

      ACL warrants that the Equipment or Software returned by ACL following
      repair or replacement by ACL shall be free from defects in materials and
      faulty workmanship and that the Software will conform in all material
      respects to ACL's published specifications therefor for ninety (90) days
      from the date of Delivery or until the end of the Warranty Period,
      whichever is longer.

9.    LIMITATION OF LIABILITY.

      9.1 WITHOUT PREJUDICE TO SECTION 9.3, NEITHER ACL NOR ANY OF ITS OFFICERS,
      DIRECTORS, EMPLOYEES, AGENTS, REPRESENTATIVES, SHAREHOLDERS, OR AFFILIATES
      (ACL AND SUCH OTHER PERSONS, THE "ACL PARTIES"), SHALL HAVE ANY LIABILITY
      TO PURCHASER IN CONTRACT, TORT OR OTHERWISE (INCLUDING WITHOUT LIMITATION
      NEGLIGENCE OR BREACH OF STATUTORY DUTY) FOR LOSS OF PROFITS, INCOME,
      REVENUE OR DATA, OR INCIDENTAL, CONSEQUENTIAL, INDIRECT OR PUNITIVE
      DAMAGES OR LOSSES, ARISING FROM OR IN CONNECTION WITH THIS AGREEMENT, ANY
      PURCHASE ORDER PLACED PURSUANT TO THIS AGREEMENT OR ANY COLLATERAL
      CONTRACT, OR FROM OR IN CONNECTION WITH THE EQUIPMENT OR THE SOFTWARE OR
      THE USE THEREOF OR THE INABILITY TO USE THEM EITHER SEPARATELY OR IN
      COMBINATION WITH OTHER EQUIPMENT OR SOFTWARE,

      9.2. ACL shall be liable for physical damage to property due to ACL's
      negligence up to a maximum aggregate amount of two million US Dollars
      (USD2,000,000).

      9.3 Nothing in this Agreement shall exclude or in any way limit ACL
      liability for death or personal injury caused by its negligence.

10.   SOFTWARE LICENCE.

      10.1 ACL shall grant Purchaser a nonexclusive, non-transferrable license
      to use the Software, only with the Equipment purchased under this
      Agreement. Software licensed under this Agreement is defined as computer
      programs contained on a magnetic tape, disc, semiconductor device, or
      other memory, including: (a) hardwired logic instructions which manipulate
      data in the central processor and which control input-output operations,
      error diagnostics, and recovery routine; and (b) instruction sequences in
      machine-readable code which control call processing, peripheral equipment,
      and administration and maintenance functions as well as associated
      documentation used to describe, maintain, and use the programs.

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      10.2 Any Software provided to Purchaser by ACL shall be treated as the
      exclusive property of ACL, and Purchaser shall: (1) treat such Software as
      Confidential Information under Section 12 of this Agreement; (2) utilise
      such Software or any portions or aspects thereof (including any methods or
      concepts utilised therein) solely in conjunction with the Equipment; (3)
      return to ACL all memory media, documentation and/or other material that
      has been modified, updated or replaced; (4) not modify, disassemble or
      decompile such Software, or reverse engineer any portion of the Software
      or functioning of the ACL Products, or permit others to do so, without
      ACL's prior written consent; and (5) not reproduce or copy such Software
      in whole or in part except for backup and archival purposes or as
      otherwise permitted in writing by ACL. (Information to achieve
      interoperability of the Software with independently created programs,
      within the meaning of Article 6 of the Directive on the Legal Protection
      of Computer Programs shall be provided by ACL to the Purchaser upon the
      signing of this agreement.

      10.3 The obligations of Purchaser under this Section 10 shall survive the
      termination of the Agreement for any reason and shall continue even if the
      Software is no longer used with the Equipment.

11.   DOCUMENTATION.

      For the initial Purchase Order, ACL shall furnish six full sets of
      documentation, in hard and soft copies to the Purchaser at no extra cost,
      for the products specified in Exhibit A including cabling diagrams to be
      used for the operation and maintenance of the Equipment and Software.
      Thereafter, for documentation updates and further Purchase Orders ACL will
      provide a single copy on CD-ROM and in hard copy. All such documentation
      is to be treated in accordance with the terms of Section 12. Updates to
      the documentation shall be at no charge during the Warranty Period.

12.   CONFIDENTIAL INFORMATION.

      12.1 The Confidentiality Agreement, dated 22 August 2001 between ACL and
      the Purchaser is incorporated herein by reference. The obligations of
      Sections 10 and 12 will survive termination or cancellation of this
      Agreement.

13.   EXCUSABLE DELAY

      None of the parties shall suffer any liability for non-performance,
      defective performance, or late performance under this Agreement

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      due to causes beyond its control and without its fault or negligence such
      as, but not limited to, acts of God, war (including civil war), civil
      unrest, acts of government, fire, floods, explosions, the elements,
      epidemics, quarantine, restrictions, strikes, lock-outs, plant shutdown.
      In the event of excusable delay as defined in the preceding sentence, then
      the affected party, upon giving prompt written notice to the other shall
      be excused from such performance on a day-to-day basis to the extent of
      such prevention, restriction, or interference (and the other party shall
      likewise be excused from performance of its obligations on a day-to-day
      basis to the extent that the party's obligations relate to the performance
      so prevented, restricted, or interfered with), provided that the party in
      default shall use its best endeavours to avoid or remove such causes of
      non-performance and both parties shall proceed to perform with dispatch
      whenever such causes are removed or cease to exist.

      Each party reserves the right to cancel or otherwise terminate this
      Agreement if the other's performance is delayed for a period of more than
      ninety (90) days.

14.   GENERAL INDEMNITY.

      14.1 ACL agrees to indemnify and hold Purchaser harmless against all
      costs, expenses, liabilities, damages, losses, claims, or proceedings
      incurred by Purchaser in an action by a third party alleging that
      Purchaser's use of the Equipment or the Software, separately or in
      combination, as a whole or in part, constitutes an infringement of their
      intellectual property rights wherever in the world enforceable, including
      applications to register and rights to apply for any such rights
      ("Intellectual Property Rights"). ACL agrees to defend Purchaser against
      any such claims and to pay all litigation costs, reasonable lawyer's fees,
      settlement payments, and any damages awarded or resulting from any such
      claim.

      14.2 Purchaser shall promptly advise ACL of any such suit, claim, or
      proceeding and shall co-operate with ACL in the defence or settlement
      thereof. ACL shall have sole control of the defence of any action
      involving such a claim and of all negotiations for its settlement.

      14.3 In the event that an injunction is obtained against Purchaser's use
      of the Equipment and/or the Software, in whole or in part, as a result of
      any such claim under Section 14.1, ACL shall use its best efforts to
      either: (a) procure for Purchaser the right to continue using the portions
      of the Equipment or the Software enjoined from use; or (b) replace or
      modify the same with functionally equivalent or better Equipment and/or
      Software so that Purchaser's use is not subject to any

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      such injunction. In the event that ACL cannot perform the remedies set
      forth in Sections 14.3(a) or 14.3(b), then Purchaser shall have the right
      to return such Equipment and the Software to ACL. In the event of such
      return, ACL shall refund the full value of the Equipment and the licence
      to use the Software within fifteen (15) days of the receipt by ACL of the
      Equipment and the Software.

      14.4 This indemnity shall not apply to claims arising in respect of the
      use of the Equipment or Software supplied by ACL or manufactured by its
      suppliers in accordance with any design or any special instruction
      furnished by Purchaser, or which Purchaser uses in a manner or for a
      purpose not contemplated by this Agreement.

      14.5 The provisions of this Section 14 set forth the entire obligation of
      ACL with respect to any claim of infringement of Intellectual Property
      Rights.

15.   REMEDIES AND TERMINATION.

      15.1 Either party shall have the right, prior to payment to ACL of the
      Invoice Total, to suspend its performance under this Agreement by written
      notice to the other Party if that party shall: (a) become insolvent; (b)
      have a receiver or manager appointed over the whole or any part of its
      assets or business; (c) make any composition or arrangement with its
      creditors; (d) take or suffer any similar action in consequence of debt,
      or an order or resolution is made for its dissolution or liquidation
      (other than for the purpose of amalgamation or reconstruction). .

      15.2 In the event of any material breach of this Agreement by either party
      which shall continue for thirty (30) or more days after written notice of
      such breach (including a reasonably detailed statement of the nature of
      such breach) shall have been given to the breaching party by the aggrieved
      party, the aggrieved party shall be entitled at its option: (a) to avail
      itself of any and all remedies available at law or equity; or (b) to
      terminate this Agreement; or (c) if the aggrieved party is ACL, to suspend
      performance of all of its obligations under the Agreement for as long as
      the breach continues uncorrected or (d) if the aggrieved party is the
      Purchaser, to suspend payment of any monies due and payable to ACL until
      the breach is corrected.

      15.3 In the event (a) either party fails timely to discharge its
      obligations under this Agreement and (b) the aggrieved party employs a
      lawyer in order to collect any amount due and unpaid or to enforce any
      right or remedy hereunder, then the defaulting party agrees that, in
      addition to all amounts due hereunder, it shall pay all costs of

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      collection or enforcement including court costs and reasonable Lawyer's
      fees.

16.   PURCHASER'S RESPONSIBILITIES.

      To the extent that Purchaser requests Installation Services, and ACL
      accepts the Purchase Order for such Installation Services, then:

      a.    Purchaser shall ensure that all ACL-designated personnel have access
            to Purchaser's premises and the Equipment during the times necessary
            to install, maintain, and service the Equipment. ACL's personnel
            shall comply with site and security regulations as specified by
            Purchaser.

      b.    Purchaser shall provide reasonable working space and facilities
            including cooling, light, ventilation, electric current and outlets
            for use by ACL's designated personnel. Adequate storage space for
            equipment and materials shall be made available by Purchaser as
            required. All such facilities shall be provided at no charge to ACL.

      c.    Any information which ACL reasonably requests from Purchaser and
            which is required for ACL to properly install or maintain the
            Equipment shall be provided by Purchaser in a timely fashion and
            form reasonably specified by ACL.

      d.    Purchaser shall not perform, or attempt to perform, or cause to be
            performed any maintenance or repair to the Equipment during the term
            of this Agreement, other than pursuant to this Agreement, without
            ACL's prior, written consent.

17.   ACL's RESPONSIBILITIES

      To the extent that Purchaser requests Installation/or and Maintenance
      Services and/or training services, and ACL accepts the Purchase Order for
      such Services, then:

      a.    ACL shall provide all necessary tools and test equipment required
            for the installation, testing and commissioning of the Equipment and
            Software.

      b.    ACL shall work in conjunction with other contractors of Monarch for
            the interfacing and integration of ACL equipment and Software with
            third party software.

SUPPLY AGREEMENT - PAGE 14
(STDUKSA-revised  May 2000)
<PAGE>

      c.    ACL shall ensure that Monarch Staff are adequately trained in all
            stages of the equipment installation, integration, testing,
            commissioning, operations and maintenance stages.

      d.    ACL shall provide Acceptance Test Procedures, which shall be
            agreeable to both parties.

18.   NOTICES.

      All notices, requests, consents and other communications hereunder must be
      in writing and will be deemed to have been properly given when actually
      received by the party to whom sent, at the following addresses:

      If to ACL:                      If to PURCHASER:

      FAO: Contracts Manager          Sade Adetiba and V. K. Fashola
      Airspan Communications Ltd.     Monarch Communications Ltd.
      Cambridge House,                Orbital House,
      Oxford Road,                    No. 180 Awolowo Road,
      Uxbridge, Middlesex             Ikoyi,
      UB8  1UN                        Lagos
      England                         Nigeria

19.   HARDWARE AND SOFTWARE VERIFICATION

      19.1 If Installation Services are ordered, ACL shall, upon completion of
      the installation, test the Equipment. Purchaser may witness the
      installation and test performance.

      19.2 When the Equipment and Software have satisfactorily completed all of
      ACL's tests, ACL shall provide Purchaser with a "Hardware and Software
      Verification" certificate. The written acceptance of the certificate by
      Purchaser will be deemed, for purposes of this Agreement, as "Completion
      of Installation".

      19.3 The tests that the ACL Products must successfully complete as part of
      the commissioning process are set forth in Exhibit C hereto. Such
      commissioning tests may be amended from time to time by agreement of both
      parties in writing.

20.   PUBLICITY.

SUPPLY AGREEMENT - PAGE 15
(STDUKSA-revised  May 2000)
<PAGE>

      Both parties agree not to publish any press releases or otherwise
      publicise the existence, or any of the terms, of this Agreement without
      the prior written consent of the other party.

21.   MISCELLANEOUS.

      21.1 This Agreement shall be construed in accordance with and governed by
      the laws of England, without regard to its conflicts of law rules.

      21.2 (a) Any dispute, controversy or claim between the parties arising out
      of, or in connection with, this Agreement, or the breach, termination or
      validity thereof will be resolved by mutual agreement of the parties. If
      any dispute, controversy, or claim arising out of or relating to this
      Agreement, or the breach, termination, or validity thereof is unable to be
      resolved by mutual agreement of the parties, then any such dispute shall
      be finally resolved by arbitration under the Rules of the Chartered
      Institute of Arbitrators, England, as then in force, by one or more
      arbitrators appointed in accordance with said Rules. The place of
      arbitration shall be London, England. The language used during arbitration
      shall be the English language. The parties agree that the award of the
      arbitrator(s) shall, except as provided below, be the sole and exclusive
      remedy between them regarding the claims, counterclaims, issues or
      accounting presented or pled to the arbitrator(s) and that the award may
      be enforced in other jurisdiction in any manner provided by law. The
      arbitrator(s) shall be entitled to award to the substantially prevailing
      party its attorneys fees and costs incurred in connection with the
      arbitration proceedings and preparation for the same.

      (b) Notwithstanding the provisions of item (a) above, the parties hereto
      shall be entitled to seek injunctive or similar relief from a court of
      competent jurisdiction with respect to any actual, impending or threatened
      breach of confidentiality provisions and other provisions of this
      Agreement, including provisions intended to protect intellectual property
      rights. In any court proceedings contemplated by this item (b), the
      substantially prevailing party shall be entitled to recover from the other
      party its attorneys fees and costs.

      21.3 The delay or failure on the part of any of the parties to enforce at
      any time any of the provisions of this Agreement or any right with respect
      thereto, or to exercise any option herein provided shall in no way be
      construed to be a waiver of such provision, rights, or options, or in any
      way to affect its right later to enforce them. The exercise by any of the
      parties of its rights hereunder or of any options hereunder under the
      terms or covenants herein shall not preclude or prejudice the party

SUPPLY AGREEMENT - PAGE 16
(STDUKSA-revised  May 2000)
<PAGE>

      from thereafter exercising the same or any right which it may have under
      this Agreement, irrespective of any previous action or proceeding taken by
      the party hereunder.

      21.4 This Agreement shall be binding upon and inure to the benefit of the
      successors, legal representatives and assigns of both parties.

      21.5 This Agreement and any Exhibit hereto shall be modified only by an
      instrument in writing that is signed by duly authorised representatives of
      the parties.

      21.6 The provisions of this Agreement are severable, and if any provision
      is held invalid or unenforceable in whole or in part in any jurisdiction,
      then such invalidity or unenforceability will affect only such provision
      or part thereof in such jurisdiction, and will not in any manner affect
      the provision in any other jurisdiction, or any other provision in this
      Agreement in any other jurisdiction. To the extent legally permissible, an
      arrangement that reflects the original intent of the parties will be
      substituted for such invalid or unenforceable provision.

      21.7 All obligations that by their nature survive the expiration,
      cancellation or termination of this Agreement shall remain in effect after
      its expiration, cancellation or termination.

      21.8 None of the parties shall be entitled to assign this Agreement or its
      rights under it without the prior written consent of the other party, and
      such consent shall not to be unreasonably withheld or delayed.

      21.9 In the performance of its obligations under this Agreement, the
      parties shall at all times strictly comply with all export laws,
      regulations, and orders of the United Kingdom and the United States of
      America. Purchaser specifically acknowledges that Equipment, Software, or
      technology obtained from ACL pursuant to this Agreement shall not be
      exported, re-exported, transhipped, disclosed, diverted, or transferred,
      directly or indirectly, contrary to U.K. and U.S. laws, orders or
      regulations, which ACL shall provide to the purchaser on request.

      21.10 TAXES

      It is hereby agreed that each party shall be responsible for such taxes,
      levies and other charges issued in their respective countries in respect
      of this agreement.

22.   This document constitutes the entire agreement between the parties with
      respect to the subject matter hereof, and supersedes all previous
      communications, representations, understandings and agreements,

SUPPLY AGREEMENT - PAGE 17
(STDUKSA-revised  May 2000)
<PAGE>

      either oral or written, between the parties or any official or
      representative thereof.

      IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
      duly executed as of the Effective Date, such parties acting by their
      officers, being thereunto duly authorised.

Airspan Communications Ltd.             Monarch Communications Ltd.

By:________________________________     By:____________________________

Name:______________________________     Name:__________________________

Title:_____________________________     Title:_________________________

SUPPLY AGREEMENT - PAGE 18
(STDUKSA-revised  May 2000)
<PAGE>

                                    EXHIBIT A

                                 "ACL Products"

AS4000 and AS8100 products. Purchaser may order the following items:

--------------------------------------------------------------------------------
Catalogue number and Item description
--------------------------------------------------------------------------------
Subscriber Terminal type
--------------------------------------------------------------------------------
801-6319 : ST-R1, 1-line 64k or 32k POTS (Ant, SIU, internal batt) options:
Type 6 Eur
--------------------------------------------------------------------------------
801-6329 : ST-R2, 2-line 64k or 32k POTS (Ant, SIU, internal batt) options:
Type 6 Eur
--------------------------------------------------------------------------------
803-6349 : ST-N4,   4-Line 64k or 32k POTS (Ant, SIU) options: Type 6 Eur
--------------------------------------------------------------------------------
804-6319 : ST-B1,   (ISDN 2B+D) (Ant, SIU) options: Type 6 Eur
--------------------------------------------------------------------------------
811-6329 : ST-P1V2, Ethernet+2-Line 64 & 32k POTS (Ant, SIU) options: Type 6
Eur
--------------------------------------------------------------------------------
ST Ancillaries and Spares
--------------------------------------------------------------------------------
890-0009 : ST antenna drop cable kit (300m standard cable)
--------------------------------------------------------------------------------
605-0010-257 : ST Installation toolkit
--------------------------------------------------------------------------------
CT and AC Rack mechanics
--------------------------------------------------------------------------------
700-0002 : CT Rack with RF Combiner shelf + 2 AS4000 Modem shelves (E1)
--------------------------------------------------------------------------------
703-0002 : Rack with 2 AC shelves
--------------------------------------------------------------------------------
CT Antenna Systems
--------------------------------------------------------------------------------
710-6941 : Directional Antenna, 1 feeder port,  90 Deg 3.4-3.7 GHz
--------------------------------------------------------------------------------
CT Antenna Feeder
--------------------------------------------------------------------------------
712-0050 : CT Antenna Feeder 7/8 inch coaxial  (1x50m)+ Installation kit
--------------------------------------------------------------------------------
CT RF plug in sets
--------------------------------------------------------------------------------
720-6300 : CT RF full plug in set 3.4-3.6 GHz Plan 1 (2PA+MON+3PSU+2DIPLNA)
--------------------------------------------------------------------------------
CT AS4000 DA Modem shelf card sets and AS4020 Modem shelves
--------------------------------------------------------------------------------
751-6300 : DA Modem shelf full card set (E1) (3.5MHz) 3.4-3.6 GHz Plan 1
(RF+AU+TU+SC+2PSU+5Modems)
--------------------------------------------------------------------------------
AC Shelf plug-ins
--------------------------------------------------------------------------------
780-0000 : AC Basic Shelf card set (Generic E1) (2PSU+SC+CTU+XTU)
--------------------------------------------------------------------------------
303-1002-900 : E1 TU card
--------------------------------------------------------------------------------
303-1009-900 : AC CU card
--------------------------------------------------------------------------------
605-0010-235 : AC PTU card
--------------------------------------------------------------------------------
Software and NMS
--------------------------------------------------------------------------------
870-1000 : AS8100/8200 Sitespan Desktop Hardware Platform (Windows NT PC +
Serial port expansion.)
--------------------------------------------------------------------------------
870-2100 : AS8100 Sitespan Client / Server software (AS4000 support) and RTU
license
--------------------------------------------------------------------------------
870-2300 : AS8100/8200 Sitespan Shelf License
--------------------------------------------------------------------------------
870-2900 : Annual Maintenance/Upgrade charge for Sitespan software
--------------------------------------------------------------------------------
871-xxxx : V5.x License for 1000 subscribers
--------------------------------------------------------------------------------
872-1000 : STMON for Windows 98 and NT
--------------------------------------------------------------------------------
Documentation
--------------------------------------------------------------------------------
880-2000 : AS4000 DA Documentation (CD-ROM)
--------------------------------------------------------------------------------
880-3000 : AS8100/8200 (Sitespan) Documentation (CD-ROM)
--------------------------------------------------------------------------------
Services (NB. Estimate only. Travel and expenses not included)
--------------------------------------------------------------------------------
885-2000 : Installation services (per day, excl T&E)
--------------------------------------------------------------------------------

SUPPLY AGREEMENT - PAGE 19
(STDUKSA-revised  May 2000)
<PAGE>

                                    EXHIBIT B

                                  "Price List"

SUPPLY AGREEMENT - PAGE 20
(STDUKSA-revised  May 2000)
<PAGE>

                                    EXHIBIT B

                                  "Price List"

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Schedule of Equipment for Monarch Nigeria Project                                                       Quantities
-------------------------------------------------------------------------------------------------------------------------------
                                                                                                      Infrastructure
-------------------------------------------------------------------------------------------------------------------------------
Catalogue number and Item description                                                   Price Agro Diyan   Ikeja     Apapa
-------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                         <C>      <C>         <C>       <C>
Subscriber Terminal type
----------------------------------------------------------------------------------------------
801-6319  : ST-R1,   1-line 64k or 32k POTS (Ant, SIU, internal batt) options:
                     Type 6 Eur                                                             *
801-6329  : ST-R2,   2-line 64k or 32k POTS (Ant, SIU, internal batt) options:
                     Type 6 Eur                                                             *
803-6349  : ST-N4,   4-Line 64k or 32k POTS (Ant, SIU) options: Type 6 Eur                  *
804-6319  : ST-B1,   (ISDN 2B+D) (Ant, SIU) options: Type 6 Eur                             *
811-6329  : ST-P1V2, Ethernet+2-Line 64 & 32k POTS (Ant, SIU) options:
                     Type 6 Eur                                                             *
Total Subscriber Terminals
----------------------------------------------------------------------------------------------
ST Ancillaries and Spares
890-0009 : ST antenna drop cable kit (300m standard cable)                                  *
605-0010-257 : ST Installation toolkit                                                      *
Total ST Ancillaries and Spares
----------------------------------------------------------------------------------------------
CT and AC Rack mechanics
700-0002 : CT Rack with RF Combiner shelf + 2 AS4000 Modem shelves (E1)                     *        *           *         *
703-0002 : Rack with 2 AC shelves                                                           *        *
Total CT and AC Rack mechanics
----------------------------------------------------------------------------------------------
CT Antenna Systems
710-6941 : Directional Antenna, 1 feeder port,  90 Deg 3.4-3.7 GHz                          *        *           *         *
Total CT Antenna Systems
----------------------------------------------------------------------------------------------
CT Antenna Feeder
712-0050 : CT Antenna Feeder 7/8 inch coaxial  (1x50m)+ Installation kit                    *        *           *         *
Total CT Antenna Feeder
----------------------------------------------------------------------------------------------
CT RF plug in sets
720-6300 : CT RF full plug in set 3.4-3.6 GHz Plan 1 (2PA+MON+3PSU+2DIPLNA)                 *        *           *         *
Total CT RF plug in sets
----------------------------------------------------------------------------------------------
CT AS4000 DA Modem shelf card sets and AS4020 Modem shelves
751-6300 : DA Modem shelf full card set (E1) (3.5MHz) 3.4-3.6 GHz Plan 1
           (RF+AU+TU+SC+2PSU+5Modems)                                                       *        *           *         *
Total CT AS4000 DA Modem shelf card sets and AS4020 Modem shelves
----------------------------------------------------------------------------------------------
AC Shelf plug-ins
780-0000 : AC Basic Shelf card set (Generic E1) (2PSU+SC+CTU+XTU)                           *        *
303-1002-900 : E1 TU card                                                                   *        *
303-1009-900 : AC CU card                                                                   *        *
605-0010-235 : AC PTU card                                                                  *        *
Total AC Shelf plug-ins
----------------------------------------------------------------------------------------------
Software and NMS
870-1000 : AS8100/8200 Sitespan Desktop Hardware Platform (Windows NT PC +
           Serial  port expansion.)                                                         *        *
870-2100 : AS8100 Sitespan Client / Server software (AS4000 support) and RTU
           license                                                                          *        *
870-2300 : AS8100/8200 Sitespan Shelf License                                               *        *
870-2900 : Annual Maintenance/Upgrade charge for Sitespan software                          *        *
871-xxxx : V5.x License for 1000 subscribers                                                *        *
872-1000 : STMON for Windows 98 and NT                                                      *        *
Total Software and NMS
----------------------------------------------------------------------------------------------
Documentation
880-2000 : AS4000 DA Documentation (CD-ROM)                                                 *        *
880-3000 : AS8100/8200 (Sitespan) Documentation (CD-ROM)                                    *        *
Total Documentation
----------------------------------------------------------------------------------------------
Services (NB. Estimate only. Travel and expenses not included)
885-2000 : Installation (per day, excl T&E)                                                 *        *
885-1000 : Site Survey (per day, excl T&E)                                                  *
885-3000 : Radio Planning (per day, excl T&E)                                               *
885-4000 : Airspan Training (per day at Uxbridge for up to 7 students, excl T+E)            *
885-4001 : Airspan Training (per day on Customer premises for up to 7 students,
           excl T+E)                                                                        *
885-4002 : Airspan Training (per day per additional student, excl T+E)                      *
885-5000 : Project Management (per manager per day, excl T&E)                               *
Total Services
----------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------
                                                                                   Totals
-------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Schedule of Equipment for Monarch Nigeria Project                                                   Quantities
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                  Infrastructure        Subscribers
------------------------------------------------------------------------------------------------------------------------------------
Catalogue number and Item description                                               Agege         Amuwo-Odofin   Units
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                           <C>           <C>          <C>
Subscriber Terminal type
------------------------------------------------------------------------------------
801-6319  : ST-R1,   1-line 64k or 32k POTS (Ant, SIU, internal batt) options:
                     Type 6 Eur                                                                                          *
801-6329  : ST-R2,   2-line 64k or 32k POTS (Ant, SIU, internal batt) options:
                     Type 6 Eur                                                                                          *
803-6349  : ST-N4,   4-Line 64k or 32k POTS (Ant, SIU) options: Type 6 Eur                                               *
804-6319  : ST-B1,   (ISDN 2B+D) (Ant, SIU) options: Type 6 Eur
811-6329  : ST-P1V2, Ethernet+2-Line 64 & 32k POTS (Ant, SIU) options:
                     Type 6 Eur                                                                                          *
Total Subscriber Terminals
------------------------------------------------------------------------------------
ST Ancillaries and Spares
890-0009 : ST antenna drop cable kit (300m standard cable)                                                               *
605-0010-257 : ST Installation toolkit
Total ST Ancillaries and Spares
------------------------------------------------------------------------------------
CT and AC Rack mechanics
700-0002 : CT Rack with RF Combiner shelf + 2 AS4000 Modem shelves (E1)                       *             *
703-0002 : Rack with 2 AC shelves
Total CT and AC Rack mechanics
------------------------------------------------------------------------------------
CT Antenna Systems
710-6941 : Directional Antenna, 1 feeder port,  90 Deg 3.4-3.7 GHz                            *             *
Total CT Antenna Systems
------------------------------------------------------------------------------------
CT Antenna Feeder
712-0050 : CT Antenna Feeder 7/8 inch coaxial  (1x50m)+ Installation kit                      *             *
Total CT Antenna Feeder
------------------------------------------------------------------------------------
CT RF plug in sets
720-6300 : CT RF full plug in set 3.4-3.6 GHz Plan 1 (2PA+MON+3PSU+2DIPLNA)                   *             *
Total CT RF plug in sets
------------------------------------------------------------------------------------
CT AS4000 DA Modem shelf card sets and AS4020 Modem shelves
751-6300 : DA Modem shelf full card set (E1) (3.5MHz) 3.4-3.6 GHz Plan 1
           (RF+AU+TU+SC+2PSU+5Modems)                                                         *             *
Total CT AS4000 DA Modem shelf card sets and AS4020 Modem shelves
------------------------------------------------------------------------------------
AC Shelf plug-ins
780-0000 : AC Basic Shelf card set (Generic E1) (2PSU+SC+CTU+XTU)
303-1002-900 : E1 TU card
303-1009-900 : AC CU card
605-0010-235 : AC PTU card
Total AC Shelf plug-ins
------------------------------------------------------------------------------------
Software and NMS
870-1000 : AS8100/8200 Sitespan Desktop Hardware Platform (Windows NT PC +
           Serial  port expansion.)
870-2100 : AS8100 Sitespan Client / Server software (AS4000 support) and RTU
           license
870-2300 : AS8100/8200 Sitespan Shelf License
870-2900 : Annual Maintenance/Upgrade charge for Sitespan software
871-xxxx : V5.x License for 1000 subscribers
872-1000 : STMON for Windows 98 and NT
Total Software and NMS
------------------------------------------------------------------------------------
Documentation
880-2000 : AS4000 DA Documentation (CD-ROM)
880-3000 : AS8100/8200 (Sitespan) Documentation (CD-ROM)
Total Documentation
------------------------------------------------------------------------------------
Services (NB. Estimate only. Travel and expenses not included)
885-2000 : Installation (per day, excl T&E)
885-1000 : Site Survey (per day, excl T&E)
885-3000 : Radio Planning (per day, excl T&E)
885-4000 : Airspan Training (per day at Uxbridge for up to 7 students, excl T+E)
885-4001 : Airspan Training (per day on Customer premises for up to 7 students,
           excl T+E)
885-4002 : Airspan Training (per day per additional student, excl T+E)
885-5000 : Project Management (per manager per day, excl T&E)
Total Services
------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
                                                                                   Total
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<S>                                                                                  <C>           <C>
---------------------------------------------------------------------------------   ---------------------------------
Summary                                                                                            Discount Schedule
---------------------------------------------------------------------------------   ---------------------------------
Infrastructure Total                                                                               >* STs per yr
                                                                                    ---------------------------------
                                                                                                   Subscribers
---------------------------------------------------------------------------------   ---------------------------------
*                                                                                    R1            *
                                                                                    ---------------------------------
                                                                                     R2            *
---------------------------------------------------------------------------------   ---------------------------------
Subscriber Total                                                                     N4            *
                                                                                    ---------------------------------
                                                                                     B1            *
---------------------------------------------------------------------------------   ---------------------------------
Grand Total                                                                          P1V2          *
                                                                                    ---------------------------------
                                                                                                   Infrastructure
                                                                                    ---------------------------------
                                                                                                   *
---------------------------------------------------------------------------------   ---------------------------------
Quote ref 2001-33 R10                                                             -------------------------------------------------
9/14/2001                                                                          In event of a further order being placed for
Quote expires 24/09/01                                                             delivery before 15th September 2002 of * STs or
1. All prices are quoted CIP Lagos (as per Incoterms 2000)                         greater, then the unit price reduces for the
2. Payment is by LOC or other similar means                                        whole volume to that shown in the >* STs column.
3. Please refer to the quote reference number in any communications with Airspan.  A purchase credit will be applied to this
4. Payment 10%  with order, 50%  50 days after delivery, 40% 140 days after        additional order such that the aggregate unit
delivery.                                                                          price of the total quantity delivered during the
5. Initial Firm Order placed by 15/9/01 for 5 infrastructure sites and 4,000 STs   year will equal the prices in the >* STs column.
6. Delivery of infrastructure and 500 STs to freight forwarders by end September  -------------------------------------------------
2001, delivery in country by end October 2001. Balance of STs to be delivered by
end December 2001.
7. ACL will provide two site visits in Lagos during the first year FOC
8. ACL will provide 870-2300 and 871-xxxx FOC for later stages of infrastructure.
9. ACL will provide 20 working days of ISTAS time for ST installation and
training FOC.
---------------------------------------------------------------------------------
</TABLE>

--------------------------------------- ----------------------------------------
Signature:                              Signature:

\s\ R Olowude                           \s\ J. Paget

R Olowude                               J Paget
Chairman                                Chief Operating Officer
Monarch Communications Limited          Airspan Networks Inc
--------------------------------------- ----------------------------------------

SUPPLY AGREEMENT - PAGE 21
(STDUKSA-revised  May 2000)<PAGE>

                                                                    Exhibit 10.1
                                                                    ------------

                         [Logo of Silicon Valley Bank]

                              SILICON VALLEY BANK
                               3003 TASMAN DRIVE
                             SANTA CLARA, CA. 95054
                      (408) 654-1000 - FAX (408) 980-6410

                     ACCOUNTS RECEIVABLE PURCHASE AGREEMENT

     This ACCOUNTS RECEIVABLE PURCHASE AGREEMENT, dated AUGUST 16, 2001 (the
"Agreement"), is entered into between SILICON VALLEY BANK ("Buyer") and GENSYM
CORPORATION, a Delaware corporation ("Seller"), with reference to that certain
Accounts Receivable Financing Agreement dated March 28, 2001 (as amended, the
"Existing Agreement").  The Existing Agreement and all related documents,
instruments and agreements are referred to collectively in this Amendment as the
"Loan Documents".  Capitalized terms used in this Agreement, which are not
defined shall have the meanings set forth in the Existing Agreement.

The Parties agree, as follows:

     Seller acknowledges that the present unpaid principal balance of the
Seller's indebtedness, liabilities and obligations to Buyer under the Loan
Documents, including interest accrued through 8/16/01 if $0 (the "Financed
Receivable Balance"), and that said sum is due and owing without any defense,
offset, or counterclaim of any kind.

     Effective immediately, the Financed Receivable Balance shall be converted
to Purchased Receivables, as defined in this Agreement, which Buyer in its sole
discretion accepts to purchase under Section 2.  This Agreement shall replace
all financial accommodations under the Loan Documents, and as of this date,
Buyer shall not be obligated to provide any further financial accommodations
under any of the Loan Documents.

1.  DEFINITIONS.  When used herein, the following terms shall have the
following meanings.

     "Account Balance" shall mean, on any given day, the gross amount of all
Purchased Receivables unpaid on that day.

     "Account Debtor" shall have the meaning set forth in the California Uniform
Commercial Code and shall include any person liable on any Purchased Receivable,
including without limitation, any guarantor of the Purchased Receivable and any
issuer of a letter of credit or banker's acceptance.

     "Adjustments" shall mean all discounts, allowances, returns, disputes,
counterclaims, offsets, defenses, rights of recoupment, rights of return,
warranty claims, or short payments, asserted by or on behalf of any Account
Debtor with respect to any Purchased Receivable.
<PAGE>

     "Administrative Fee" shall have the meaning as set forth in Section 3.3
hereof.

     "Advance" shall have the meaning set forth in Section 2.2 hereof.

     "Collateral" shall have the meaning set forth in Section 8 hereof.

     "Collections" shall mean all good funds received by Buyer from or on behalf
of an Account Debtor with respect to Purchased Receivables.

     "Compliance Certificate" shall mean a certificate, in a form provided by
Buyer to Seller, which contains the certification of the chief financial officer
of Seller that, among other things, the representations and warranties set forth
in this Agreement are true and correct as of the date such certificate is
delivered.

     "Event of Default" shall have the meaning set forth in Section 9 hereof.

     "Facility Fee" shall have the meaning set forth in Section 3.6 hereof.

     "Finance Charges" shall have the meaning set forth in Section 3.2 hereof.

     "Invoice Transmittal" shall mean a writing signed by an authorized
representative of Seller which accurately identifies the receivables which
Buyer, at its election, may purchase, and includes for each such receivable the
correct amount owed by the Account Debtor, the name and address of the Account
Debtor, the invoice number, the invoice date and the account code.

     "Obligations" shall mean all advances, financial accommodations,
liabilities, obligations, covenants and duties owing, arising, due or payable by
Seller to Buyer of any kind or nature, present or future, arising under or in
connection with this Agreement or under any other document, instrument or
agreement, whether or not evidenced by any note, guarantee or other instrument,
whether arising on account or by overdraft, whether direct or indirect
(including those acquired by assignment) absolute or contingent, primary or
secondary, due or to become due, now owing or hereafter arising, and however
acquired; including, without limitation, all Advances, Finance Charges,
Administrative Fees, interest, Repurchase Amounts, fees, expenses, professional
fees and attorneys' fees and any other sums chargeable to Seller hereunder or
otherwise.

     "Purchased Receivables" shall mean all those accounts, receivables, chattel
paper, instruments, contract rights, documents, general intangibles, letters of
credit, drafts, bankers acceptances, and rights to payment, and all proceeds
thereof (all of the foregoing being referred to as "receivables"), arising out
of the invoices and other agreements identified on or delivered with any Invoice
Transmittal delivered by Seller to Buyer which Buyer elects to purchase and for
which Buyer makes an Advance.

     "Refund" shall have the meaning set forth in Section 3.5 hereof.

     "Reserve" shall have the meaning set forth in Section 2.4 hereof.

     "Repurchase Amount" shall have the meaning set forth in Section 4.2 hereof.

<PAGE>

     "Reconciliation Date" shall mean the last calendar day of each
Reconciliation Period.

     "Reconciliation Period" shall mean each calendar month of every year.

2.  PURCHASE AND SALE OF RECEIVABLES.

2.1  OFFER TO SELL RECEIVABLES.  During the term hereof, and provided that there
does not then exist any Event of Default or any event that with notice, lapse of
time or otherwise would constitute an Event of Default, Seller may request that
Buyer purchase receivables and Buyer may, in its sole discretion, elect to
purchase receivables.  Seller shall deliver to Buyer an Invoice Transmittal with
respect to any receivable for which a request for purchase is made.  An
authorized representative of Seller shall sign each Invoice Transmittal
delivered to Buyer.  Buyer shall be entitled to rely on all the information
provided by Seller to Buyer on or with the Invoice Transmittal and to rely on
the signature on any Invoice Transmittal as an authorized signature of Seller.

2.2  ACCEPTANCE OF RECEIVABLES.  Buyer shall have no obligation to purchase any
receivable listed on an Invoice Transmittal.  Buyer may exercise its sole
discretion in approving the credit of each Account Debtor before buying any
receivable.  Upon acceptance by Buyer of all or any of the receivables described
on any Invoice Transmittal, Buyer shall pay to Seller 80(%) percent of the face
amount of each receivable Buyer desires to purchase, net of deferred revenue and
offsets related to each specific Account Debtor.  Such payment shall be the
"Advance" with respect to such receivable.  Buyer may, from time to time, in its
sole discretion, change the percentage of the Advance.  Upon Buyer's acceptance
of the receivable and payment to Seller of the Advance, the receivable shall
become a "Purchased Receivable."  It shall be a condition to each Advance that
(i) all of the representations and warranties set forth in Section 6 of this
Agreement be true and correct on and as of the date of the related Invoice
Transmittal and on and as of the date of such Advance as though made at and as
of each such date, and (ii) no Event of Default or any event or condition that
with notice, lapse of time or otherwise would constitute an Event of Default
shall have occurred and be continuing, or would result from such Advance.
Notwithstanding the foregoing, in no event shall the aggregate amount of all
Purchased Receivables outstanding at any time exceed TWO MILLION FIVE HUNDRED
THOUSAND DOLLARS ($2,500,000.00).

2.3  EFFECTIVENESS OF SALE TO BUYER.  Effective upon Buyer's payment of an
Advance, and for and in consideration therefor and in consideration of the
covenants of this Agreement, Seller hereby absolutely sells, transfers and
assigns to Buyer, all of Seller's right, title and interest in and to each
Purchased Receivable and all monies due or which may become due on or with
respect to such Purchased Receivable.  Buyer shall be the absolute owner of each
Purchased Receivable.  Buyer shall have, with respect to any goods related to
the Purchased Receivable, all the rights and remedies of an unpaid seller under
the California Uniform Commercial Code and other applicable law, including the
rights of replevin, claim and delivery, reclamation and stoppage in transit.

2.4  ESTABLISHMENT OF A RESERVE.  Upon the purchase by Buyer of each Purchased
Receivable, Buyer shall establish a reserve.  The reserve shall be the amount by
which the face amount of the Purchased Receivable exceeds the Advance on that
Purchased Receivable (the

<PAGE>

"Reserve"); provided, the Reserve with respect to all Purchased Receivables
outstanding at any one time shall be an amount not less than 20 (%) percent of
the Account Balance at that time and may be set at a higher percentage at
Buyer's sole discretion. The reserve shall be a book balance maintained on the
records of Buyer and shall not be a segregated fund.

3.  COLLECTIONS, CHARGES AND REMITTANCES.

3.1  COLLECTIONS.  Upon receipt by Buyer of Collections, Buyer shall promptly
credit such Collections to Seller's Account Balance on a daily basis; provided,
that if Seller is in default under this Agreement, Buyer shall apply all
Collections to Seller's Obligations hereunder in such order and manner as Buyer
may determine.  If an item of collection is not honored or Buyer does not
receive good funds for any reason, the amount shall be included in the Account
Balance as if the Collections had not been received and Finance Charges under
Section 3.2 shall accrue thereon.

3.2  FINANCE CHARGES.  On each Reconciliation Date Seller shall pay to Buyer a
finance charge in an amount equal to 2.00 (%) percent per month of the average
daily Account Balance outstanding during the applicable Reconciliation Period
(the "Finance Charges").  Buyer shall deduct the accrued Finance Charges from
the Reserve as set forth in Section 3.5 below.

3.3  ADMINISTRATIVE FEE.  On each Reconciliation Date Seller shall pay to Buyer
an Administrative Fee equal to 1.00 (%) percent of the face amount of each
Purchased Receivable first purchased during that Reconciliation Period (the
"Administrative Fee").  Buyer shall deduct the Administrative Fee from the
Reserve as set forth in Section 3.5 below.

3.4  ACCOUNTING.  Buyer shall prepare and send to Seller after the close of
business for each Reconciliation Period, an accounting of the transactions for
that Reconciliation Period, including the amount of all Purchased Receivables,
all Collections, Adjustments, Finance Charges, and the Administrative Fee.  The
accounting shall be deemed correct and conclusive unless Seller makes written
objection to Buyer within thirty (30) days after the Buyer mails the accounting
to Seller.

3.5  REFUND TO SELLER.  Provided that there does not then exist an Event of
Default or any event or condition that with notice, lapse of time or otherwise
would constitute an Event of Default, Buyer shall refund to Seller by check
after the Reconciliation Date, the amount, if any, which Buyer owes to Seller at
the end of the Reconciliation Period according to the accounting prepared by
Buyer for that Reconciliation Period (the "Refund").  The Refund shall be an
amount equal to:

     (A)  (1)  The Reserve as of the beginning of that Reconciliation Period,
               PLUS

          (2)  the Reserve created for each Purchased Receivable purchased
               during that Reconciliation Period, MINUS

     (B)  The total for that Reconciliation Period of:

          (1)  the Administrative Fee;

          (2)  Finance Charges;

<PAGE>

          (3)  Adjustments;

          (4)  Repurchase Amounts, to the extent Buyer has agreed to accept
payment thereof by deduction from the Refund;

          (5)  the Reserve for the Account Balance as of the first day of the
following Reconciliation Period in the minimum percentage set forth in Section
2.4 hereof; and

          (6)  all amounts due, including professional fees and expenses, as set
forth in Section 12 for which oral or written demand has been made by Buyer to
Seller during that Reconciliation Period to the extent Buyer has agreed to
accept payment thereof by deduction from the Refund.

In the event the formula set forth in this Section 3.5 results in an amount due
to Buyer from Seller, Seller shall make such payment in the same manner as set
forth in Section 4.3 hereof for repurchases.  If the formula set forth in this
Section 3.5 results in an amount due to Seller from Buyer, Buyer shall make such
payment by check, subject to Buyer's rights under Section 4.3 and Buyer's rights
of offset and recoupment.

3.6  FACILITY FEE.  A fully earned, non-refundable facility fee of $15,000.00
shall be due upon execution of this Agreement.

4.  RECOURSE AND REPURCHASE OBLIGATIONS.

4.1  RECOURSE.  Buyer's acquisition of Purchased Receivables from Seller shall
be with full recourse against Seller.  In the event the Obligations exceed the
amount of Purchased Receivables and Collateral, Seller shall be liable for any
deficiency.

4.2  SELLER'S AGREEMENT TO REPURCHASE.  Seller agrees to pay to Buyer on demand,
the full face amount, or any unpaid portion, of any Purchased Receivable:

     (A)  which remains unpaid ninety (90) calendar days after the invoice
          date; or

     (B)  which is owned by any Account Debtor who has filed, or has had filed
          against it, any bankruptcy case, assignment for the benefit of
          creditors, receivership, or insolvency proceeding or who has become
          insolvent (as defined in the United States Bankruptcy Code) or who is
          generally not paying its debts as such debts become due; or

     (C)  with respect to which there has been any beach of warranty or
          representation set forth in Section 6 hereof or any breach of any
          covenant contained in this Agreement; or

     (D)  with respect to which the Account Debtor asserts any discount,
          allowance, return, dispute, counterclaim, offset, defense, right of
          recoupment, right of return, warranty claim, or short payment;

<PAGE>

together with all reasonable attorneys' and professional fees and expenses and
all court costs incurred by Buyer in collecting such Purchased Receivable and/or
enforcing its rights under, or collecting amounts owed by Seller in connection
with, this Agreement (collectively, the "Repurchase Amount").

4.3  SELLER'S PAYMENT OF THE REPURCHASE AMOUNT OR OTHER AMOUNTS DUE BUYER.  When
any Repurchase Amount or other amount owing to Buyer becomes due, Buyer shall
inform Seller of the manner of payment which may be any one or more of the
following in Buyer's sole discretion:  (a) in cash immediately upon demand
therefor; (b) by delivery of substitute invoices and an Invoice Transmittal
acceptable to Buyer which shall thereupon become Purchased Receivables; (c) by
adjustment to the Reserve pursuant to Section 3.5 hereof; (d) by deduction from
or offset against the Refund that would otherwise be due and payable to Seller;
(e) by deduction from or offset against the amount that otherwise would be
forwarded to Seller in respect of any further Advances that may be made by
Buyer; or (f) by any combination of the foregoing as Buyer may from time to time
choose.

4.4  SELLER'S AGREEMENT TO REPURCHASE ALL PURCHASED RECEIVABLES.  Upon and after
the occurrence of an Event of Default, Seller shall, upon Buyer's demand (or, in
the case of an Event of Default under Section 9(B), immediately without notice
or demand from Buyer) repurchase all the Purchased Receivable then outstanding,
or such portion thereof as Buyer may demand.  Such demand may, at Buyer's
option, include and Seller shall pay to Buyer immediately upon demand, cash in
an amount equal to the Advance with respect to each Purchased Receivable then
outstanding together with all accrued Finance Charges, Adjustments,
Administrative Fees, attorney's and professional fees, court costs and expenses
as provided for herein, and any other Obligations.  Upon receipt of payment in
full of the Obligations, Buyer shall immediately instruct Account Debtors to pay
Seller directly, and return to Seller any Refund due to Seller.  For the purpose
of calculating any Refund due under this Section only, the Reconciliation Date
shall be deemed to be the date Buyer receives payment in good funds of all the
Obligations as provided in this Section 4.4.

5.  POWER OF ATTORNEY.  Seller does hereby irrevocably appoint Buyer and its
successors and assigns as Seller's true and lawful attorney in fact, and hereby
authorizes Buyer, regardless of whether there has been an Event of Default, (a)
to sell, assign, transfer, pledge, compromise, or discharge the whole or any
part of the Purchased Receivables; (b) to demand, collect, receive, sue, and
give releases to any Account Debtor for the monies due or which may become due
upon or with respect to the Purchased Receivables and to compromise, prosecute,
or defend any action, claim, case or proceeding relating to the Purchased
Receivables, including the filing of a claim or the voting of such claims in any
bankruptcy case, all in Buyer's name or Seller's name, as Buyer may choose; (c)
to prepare, file and sign Seller's name on any notice, claim, assignment,
demand, draft, or notice of or satisfaction of lien or mechanics' lien or
similar document with respect to Purchased Receivables; (d) to notify all
Account Debtors with respect to the Purchased Receivables to pay Buyer directly;
(e) to receive, open, and dispose of all mail addressed to Seller for the
purpose of collecting the Purchased Receivables; (f) to endorse Seller's name on
any checks or other forms of payment on the Purchased Receivables; (g) to
execute on behalf of Seller any and all instruments, documents, financing
statements and the like to perfect Buyer's interests in the Purchased
Receivables and Collateral; and (h) to do all acts and things necessary or
expedient, in furtherance of any such purposes.  If Buyer receives a

<PAGE>

check or item which is payment for both a Purchased Receivable and another
receivable, the funds shall first be applied to the Purchased Receivable and, so
long as there does not exist an Event of Default or an event that with notice,
lapse of time or otherwise would constitute an Event of Default, the excess
shall be remitted to Seller. Upon the occurrence and continuation of an Event of
Default, all of the power of attorney rights granted by Seller to Buyer
hereunder shall be applicable with respect to all Purchased Receivables and all
Collateral.

6.  REPRESENTATIONS, WARRANTIES AND COVENANTS.

6.1  RECEIVABLES' WARRANTIES, REPRESENTATIONS AND COVENANTS.  To induce Buyer to
buy receivables and to renders its services to Seller, and with full knowledge
that the truth and accuracy of the following are being relied upon by the Buyer
in determining whether to accept receivables as Purchased Receivables, Seller
represents, warrants, covenants and agrees, with respect to each Invoice
Transmittal delivered to Buyer and each receivable described therein, that:

     (A)  Seller is the absolute owner of each receivable set forth in the
          Invoice Transmittal and has full legal right to sell, transfer and
          assign such receivables;

     (B)  The correct amount of each receivable is as set forth in the Invoice
          Transmittal and is not in dispute;

     (C)  The payment of each receivable is not contingent upon the fulfillment
          of any obligation or contract, past or future and any and all
          obligations required of the Seller have been fulfilled as of the date
          of the Invoice Transmittal;

     (D)  Each receivable set forth on the Invoice Transmittal is based on an
          actual sale and delivery of goods and/or services actually rendered,
          is presently due and owing to Seller, is not past due or in default,
          has not been previously sold, assigned, transferred, or pledged, and
          is free of any and all liens, security interests and encumbrances
          other than liens, security interests or encumbrances in favor of Buyer
          or any other division or affiliate of Silicon Valley Bank;

     (E)  There are no defenses, offsets, or counterclaims against any of the
          receivables, and no agreement has been made under which the Account
          Debtor may claim any deduction or discount, except as otherwise stated
          in the Invoice Transmittal;

     (F)  Each Purchased Receivable shall be the property of the Buyer and shall
          be collected by Buyer, but if for any reason it should be paid to
          Seller, Seller shall promptly notify Buyer of such payment, shall hold
          any checks, drafts, or monies so received in trust for the benefit of
          Buyer, and shall promptly transfer and deliver the same to the Buyer;

     (G)  Buyer shall have the right of endorsement, and also the right to
          require endorsement by Seller, on all payments received in connection
          with each Purchased Receivable and any proceeds of Collateral;

<PAGE>

     (H)  Seller, and to Seller's best knowledge, each Account Debtor set forth
          in the Invoice Transmittal, are and shall remain solvent as that term
          is defined in the United States Bankruptcy Code and the California
          Uniform Commercial Code, and no such Account Debtor has filed or had
          filed against it a voluntary or involuntary petition for relief under
          the United States Bankruptcy Code;

     (I)  Each Account Debtor named on the Invoice Transmittal will not object
          to the payment for, or the quality or the quantity of the subject
          matter of, the receivable and is liable for the amount set forth on
          the Invoice Transmittal;

     (J)  Each Account Debtor shall promptly be notified, after acceptance by
          Buyer, that the Purchased Receivable has been transferred to and is
          payable to Buyer, and Seller shall not take or permit any action to
          countermand such notification; and

     (K)  All receivables forwarded to and accepted by Buyer after the date
          hereof, and thereby becoming Purchased Receivables, shall comply with
          each and every one of the foregoing representations, warranties,
          covenants and agreements referred to above in this Section 6.1.

6.2  ADDITIONAL WARRANTIES, REPRESENTATIONS AND COVENANTS.  In addition to the
foregoing warranties, representations and covenants, to induce Buyer to buy
receivables and to render its services to Seller, Seller hereby represents,
warrants, covenants and agrees that:

     (A)  Seller will not assign, transfer, sell, or grant, or permit any lien
          or security interest in any Purchased Receivables or Collateral to or
          in favor of any other party, without Buyer's prior written consent;

     (B)  The Seller's name, form of organization, chief executive office, and
          the place where the records concerning all Purchased Receivables and
          Collateral are kept is set forth at the beginning of this Agreement.
          Collateral is located only at the location set forth in the beginning
          of this Agreement, or, if located at any additional location, as set
          forth on a schedule attached to this Agreement, and Seller will give
          Buyer at least thirty (30) days prior written notice if such name,
          organization, chief executive office or other locations of Collateral
          or records concerning Purchased Receivables or Collateral is changed
          or added and shall execute any documents necessary to perfect Buyer's
          interest in the Purchased Receivables and the Collateral;

     (C)  Seller shall (i) pay all of its normal gross payroll for employees,
          and all federal and state taxes, as and when due, including without
          limitation all payroll and withholding taxes and state sales taxes;
          (ii) deliver at any time and from time to time at Buyer's request,
          evidence satisfactory to Buyer that all such amounts have been paid to
          the proper taxing authorities; and (iii) if requested by Buyer, pay
          its payroll and related taxes through a bank or an independent payroll
          service acceptable to Buyer;

     (D)  Seller has not, as of the time Seller delivers to Buyer an Invoice
          Transmittal, or as of the time Seller accepts any Advance from Buyer,
          filed a voluntary petition for

<PAGE>

          relief under the United States Bankruptcy Code or had filed against it
          an involuntary petition for relief;

     (E)  If Seller owns, holds or has any interest in, any copyrights (whether
          registered, or unregistered), patents or trademarks, and licenses of
          any of the foregoing, such interest has been disclosed to Buyer and it
          specifically listed and identified on a schedule to this Agreement,
          and Seller shall immediately notify Buyer if Seller hereafter obtains
          any interest in any additional copyrights, patents, trademarks or
          licenses that are significant in value or are material to the conduct
          of its business;

     (F)  Seller shall provide Buyer with a Compliance Certificate (i) on a
          quarterly basis to be received by Buyer no later than the fifth
          calendar day following each calendar quarter, and; (ii) on a more
          frequent or other basis if and as requested by Buyer;

     (G)  Seller shall provide Buyer with a deferred revenue listing upon
          request; and

     (H)  On request by Buyer, Seller will promptly furnish any information
          Buyer may reasonably request to determine financial condition of
          Seller, including, but not limited to all of Seller's Obligations, and
          the condition of any of Seller's receivables which may include but are
          not limited to Purchased Receivables.

7.  ADJUSTMENTS.  In the event of a breach of any of the representations,
warranties, or covenants set forth in Section 6.1, or in the event any
Adjustment or dispute is asserted by any Account Debtor, Seller shall promptly
advise Buyer and shall, subject to the Buyer's approval, resolve such disputes
and advise Buyer of any adjustments.  Unless the disputed Purchased Receivable
is repurchased by Seller and the full Repurchase Amount is paid, Buyer shall
remain the absolute owner of any Purchased Receivable which is subject to
Adjustment or repurchase under Section 4.2 hereof, and any rejected, returned,
or recovered personal property, with the right to take possession thereof at any
time.  If such possession is not taken by Buyer, Seller is to resell it for
Buyer's account at Seller's expense with the proceeds made payable to Buyer.
While Seller retains possession of said returned goods, Seller shall segregate
said goods and mark them "property of Silicon Valley Bank."

8.  SECURITY INTEREST.  To secure the prompt payment and performance to Buyer
of all of the Obligations, Seller hereby grants to Buyer a continuing lien upon
and security interest in all of Seller's now existing or hereafter arising
rights and interest in the following, whether now owned or existing or hereafter
created, acquired, or arising, and wherever located (collectively, the
"Collateral"):

     (A)  All accounts, receivables, contract rights, chattel paper,
          instruments, documents, letters of credit, bankers acceptances,
          drafts, checks, cash, securities, and general intangibles (including,
          without limitation, all claims, causes of action, deposit accounts,
          guaranties, rights in and claims under insurance policies (including
          rights to premium refunds), rights to tax refunds, copyrights,
          patents, trademarks, rights in and under license agreements, and all
          other intellectual property);

<PAGE>

     (B)  All inventory, including Seller's rights to any returned or rejected
          goods, with respect to which Buyer shall have all the rights of any
          unpaid seller, including the rights of replevin, claim and delivery,
          reclamation, and stoppage in transit;

     (C)  All monies, refunds and other amounts due Seller, including, without
          limitation, amounts due Seller under this Agreement (including
          Seller's right of offset and recoupment):

     (D)  All equipment, machinery, furniture, furnishings, fixtures, tools,
          supplies and motor vehicles:

     (E)  All farm products, crops, timber, minerals and the like (including oil
          and gas);

     (F)  All accessions to, substitutions for, and replacements of, all of the
          foregoing;

     (G)  All books and records pertaining to all of the foregoing; and

     (H)  All proceeds of the foregoing, whether due to voluntary or involuntary
          disposition, including insurance proceeds.

     Seller is not authorized to sell, assign, transfer or otherwise convey any
Collateral without Buyer's prior written consent, except for the sale of
finished inventory in the Seller's usual course of business.  Seller agrees to
sign UCC financing statements, in a form acceptable to Buyer, and any other
instruments and documents requested by Buyer to evidence, perfect, or protect
the interests of Buyer in the Collateral.  Seller agrees to deliver to Buyer the
originals of all instruments, chattel paper and documents evidencing or related
to Purchased Receivables and Collateral.

9.  DEFAULT.  The occurrence of any one or more of the following shall
constitute an Event of Default hereunder.

     (A)  Seller fails to pay any amount owed to Buyer as and when due;

     (B)  There shall be commenced by or against Seller any voluntary or
          involuntary case under the United States Bankruptcy Code, or any
          assignment for the benefit of creditors, or appointment of a receiver
          or custodian for any of its assets;

     (C)  Seller shall become insolvent in that its debts are greater than the
          fair value of its assets, or Seller is generally not paying its debts
          as they become due or is left with unreasonably small capital;

     (D)  Any involuntary lien, garnishment, attachment or the like is issued
          against or attaches to the Purchased Receivables or any Collateral;

     (E)  Seller shall breach any covenant, agreement, warranty, or
          representation shall constitute an immediate default hereunder;

<PAGE>

     (F)  Seller is not in compliance with, or otherwise is in default under,
          any term of any document, instrument or agreement evidencing a debt,
          obligation or liability of any kind or character of Seller, now or
          hereafter existing, in favor of Buyer or any division or affiliate of
          Silicon Valley Bank, regardless of whether such debt, obligation or
          liability is direct or indirect, primary or secondary, joint, several
          or joint and several, or fixed or contingent, together with any and
          all renewals and extensions of such debts, obligations and
          liabilities, or any part thereof;

     (G)  An event of default shall occur under any guaranty executed by any
          guarantor of the Obligations of Seller to Buyer under this Agreement,
          or any material provision of any such guaranty shall for any reason
          cease to be valid or enforceable or any such guaranty shall be
          repudiated or terminated, including by operation of law;

     (H)  A default or event of default shall occur under any agreement between
          Seller and any creditor of Seller that has entered into a
          subordination agreement with Buyer;

     (I)  Any creditor that has entered into a subordination agreement with
          Buyer shall breach any of the terms of or not comply with such
          subordination agreement; or

     (J)  (i) There is a material adverse change in the business; operations; or
          condition (financial or otherwise) of the Seller, or (ii) there is a
          material impairment of the prospect of repayment of any portion of the
          Obligations or (iii) there is a material impairment of the value or
          priority of Buyer's security interests in the Collateral.

<PAGE>

10.  REMEDIES UPON DEFAULT.  Upon the occurrence of an Event of Default, (1)
without implying any obligation to buy receivables, Buyer may cease buying
receivables or extending any financial accommodations to Seller, (2) all or a
portion of the Obligations shall be, at the option of and upon demand by Buyer,
or with respect to an Event of Default described in Section 9(B), automatically
and without notice or demand, due and payable in full; and (3) Buyer shall have
and may exercise all the rights and remedies under this Agreement and under
applicable law, including the rights and remedies of a secured party under the
California Uniform Commercial Code, all the power of attorney rights described
in Section 5 with respect to all Collateral, and the right to collect, dispose
of, sell, lease, use, and realize upon all Purchased Receivables and all
Collateral in any commercial reasonable manner.  Seller and Buyer agree that any
notice of sale required to be given to Seller shall be deemed to be reasonable
if given five (5) days prior to the date on or after which the sale may be held.
In the event that the Obligations are accelerated hereunder, Seller shall
repurchase all of the Purchased Receivables as set forth in Section 4.4.

11.  ACCRUAL OF INTEREST.  If any amount owed by Seller hereunder is not paid
when due,  including, without limitation, amounts due under Section 3.5,
Repurchase Amounts, amounts due under Section 12, and any other Obligations,
such amounts shall bear interest at a per annum rate equal to the per annum rate
of the Finance Charges until the earlier of (i) payment in good funds or (ii)
entry of a final judgment thereof, at which time the principal amount of any
money judgment remaining unsatisfied shall accrue interest at the highest rates
allowed by applicable law.

12.  FEES, COSTS AND EXPENSES; INDEMNIFICATION.  The Seller will pay to Buyer
immediately upon demand all fees, costs and expenses (including fees of
attorneys and professionals and their costs and expenses) that Buyer incurs or
may from time to time impose in connection with any of the following: (a)
preparing, negotiating, administering, and enforcing this Agreement or any other
agreement executed in connection herewith, including any amendments, waivers or
consents in connection with any of the foregoing, (b) any litigation or dispute
(whether instituted by Buyer, Seller or any other person) in any way relating to
the Purchased Receivables, the Collateral, this Agreement or any other agreement
executed in connection herewith or therewith, (c) enforcing any rights against
Seller or any guarantor, or any Account Debtor, (d) protecting or enforcing its
interest in the Purchased Receivables or the Collateral, (e) collecting the
Purchased Receivables and the Obligations, and  (f) the representation of Buyer
in connection with any bankruptcy case or insolvency proceeding involving
Seller, any Purchased Receivable, the Collateral, any Account Debtor, or any
guarantor.  Seller shall indemnify and hold Buyer harmless from and against any
and all claims, actions, damages, costs, expenses, and liabilities of any nature
whatsoever arising in connection with any of the foregoing.

13.  SEVERABILITY, WAIVER, AND CHOICE OF LAW.  In the event that any provision
of this Agreement is deemed invalid by reason of law, this Agreement will be
construed as not containing such provision and the remainder of the Agreement
shall remain in full force and effect.  Buyer retains all of its rights, even if
it makes an Advance after an Event of Default.  If Buyer waives an Event of
Default, it may enforce a later Event of Default.  Any consent or waiver under,
or amendment of, this Agreement must be in writing.  Nothing contained herein,
or any action taken or not taken by Buyer at any time, shall be construed at any
time to be indicative of any obligation or willingness on the part of Buyer to
amend this Agreement or to grant to Seller any waivers or consents.  This
Agreement has been transmitted by Seller to Buyer

<PAGE>

at Buyer's office in the State of California and has been executed and accepted
by Buyer in the State of California. This Agreement shall be governed by and
interpreted in accordance with the internal laws of the State of California.

14.  ACCOUNT COLLECTION SERVICES.  Certain Account Debtors may require or
prefer that all of Seller's receivables be paid to the same address and/or
party, or Seller and Buyer may agree that all receivables with respect to
certain Account Debtors be paid to one party.  In such event Buyer and Seller
may agree that Buyer shall collect all receivables whether owned by Seller or
Buyer and (provided that there does not then exist an Event of Default or event
that with notice, lapse or time or otherwise would constitute an Event of
Default, and subject to Buyer's rights in the Collateral) Buyer agrees to remit
to Seller the amount of the receivables collections it receives with respect to
receivables other than Purchased Receivables.  It is understood and agreed by
Seller that this Section does not impose any affirmative duty on Buyer to do any
act other than to turn over such amounts.  All such receivables and collections
are Collateral and in the event of Seller's default hereunder, Buyer shall have
no duty to remit collections of Collateral and may apply such collections to the
obligations hereunder and Buyer shall have the rights of a secured party under
the California Uniform Commercial Code.

15.  NOTICES.  All notices shall be given to Buyer and Seller at the addresses
or faxes set forth on the first page of this Agreement and shall be deemed to
have been delivered and received: (a) if mailed, three (3) calendar days after
deposited in the United States mail, first class, postage pre-paid, (b) one (1)
calendar day after deposit with an overnight mail or messenger service; or (c)
on the same date of confirmed transmission if sent by hand delivery, telecopy,
telefax or telex.

16.  JURY TRIAL.  SELLER AND BUYER EACH HEREBY (a) WAIVE THEIR RESPECTIVE
RIGHTS TO A JURY TRIAL ON ANY CLAIM OR ACTION ARISING OUT OF OR IN CONNECTION
WITH THIS AGREEMENT, ANY RELATED AGREEMENTS, OR ANY OF THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY; (b) RECOGNIZE AND AGREE THAT THE FOREGOING
WAIVER CONSTITUTES A MATERIAL INDUCEMENT FOR IT TO ENTER INTO THIS AGREEMENT;
AND (c) REPRESENT AND WARRANT THAT IT HAS REVIEWED THIS WAIVER, HAS DETERMINED
FOR ITSELF THE NECESSITY TO REVIEW THE SAME WITH ITS LEGAL COUNSEL, AND
KNOWINGLY AND VOLUNTARILY WAIVES ALL RIGHTS TO A JURY TRIAL.

17.  TERM AND TERMINATION.  The term of this Agreement shall be for one (1)
year from the date hereof, and from year to year thereafter unless terminated in
writing by Buyer or Seller.  Seller and Buyer shall each have the right to
terminate this Agreement at any time.  Notwithstanding the foregoing, any
termination of this Agreement shall not affect Buyer's security interest in the
Collateral and Buyer's ownership of the Purchased Receivables, and this
Agreement shall continue to be effective, and Buyer's rights and remedies
hereunder shall survive such termination, until all transactions entered into
and Obligations incurred hereunder or in connection herewith have been completed
and satisfied in full.

18.  TITLES AND SECTION HEADINGS.  The titles and section headings used herein
are for convenience only and shall not be used in interpreting this Agreement.

<PAGE>

19.  OTHER AGREEMENTS.  The terms and provisions of this Agreement shall not
adversely affect the rights of Buyer or any other division or affiliate of
Silicon Valley Bank under any other document, instrument or agreement.  The
terms of such other documents, instruments and agreements shall remain in full
force and effect notwithstanding the execution of this Agreement.  In the event
of a conflict between any provision of this Agreement and any provision of any
other document, instrument or agreement between Seller on the one hand, and
Buyer or any other division or affiliate of Silicon Valley Bank on the other
hand, Buyer shall determine in its sole discretion which provision shall apply.
Seller acknowledges specifically that any security agreements, liens and/or
security interests currently securing payment of any obligations of Seller owing
to Buyer or any other division or affiliate of Silicon Valley Bank also secure
Seller's obligations under this Agreement, and are valid and subsisting and are
not adversely affected by execution of this Agreement.  Seller further
acknowledges that (a) any collateral under other outstanding security agreements
or other documents between Seller and Buyer or any other division or affiliate
of Silicon Valley Bank secures the obligations of Seller under this Agreement
and (b) a default by Seller under this Agreement constitutes a default under
other outstanding agreements between Seller and Buyer or any other division or
affiliate of Silicon Valley Bank.

     IN WITNESS WHEREOF, Seller and Buyer have executed this Agreement on the
day and year above written.

SELLER:  GENSYM CORPORATION

By /s/ Lowell B. Hawkinson
 ----------------------------------------

Title  Chairman, President and CEO
    -------------------------------------

BUYER: SILICON VALLEY BANK

By [Illegible]
 ----------------------------------------

Title  Senior Vice President

-----------------------------------------

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