Document:

Exhibit 10.18

 

Loan Agreement- 2011

 

This Agreement (the “Agreement”) is entered into by and between
Card Guard Scientific Survival Ltd. (“CG”) of Pekeris St. 2, Rehovot, Israel, and
Lifewatch Holding Corporation (“Lifewatch”)
of 1351 A Abbott court Buffalo Grove, Illinois, USA (each of GG and Lifewatch
shall be referred to individually as a “Party”
and collectively as the “Parties”).

 

Whereas:                   In
December 2002 CG loaned to Lifewatch the aggregate amount of US$l,250,000 (the “Transferred Amount”);

 

Whereas:                   On
January 1, 2003 the Parties agreed that the terms of the loan regarding the
Transferred Amount shall be as set forth below; and

 

Whereas:                      The
parties wish to document their mutual consent as of January 1, 2003

 

Now
Therefore the Parties agree as follows:

 

1.                         Preamble

 

The preamble to this
Agreement is an integral and binding part of this Agreement.

 

2.                         Loan
Principal

 

The Transferred Amount
shall bear interest at an annual rate (compounded annually) of 3.43% accruing
from January 1, 2003 and until the date of its actual repayment in full (the “Interest”).

 

3.                         Repayment
and Rank

 

The Transferred Amount
and all interest accrued thereon (the “Loan”)
shall become due and payable to CG on November 30, 2011 (“Repayment Date”). The Loan underlying this Agreement
shall be subordinated in rank to the Loans underlying the Loan Agreements -
2008, 2009 and 2010.

 

All payments shall be
made in lawful money of the United States of America and shall be transferred
to CG’s bank account according to its instructions.

 

The Loan may be repaid at
any time prior to Repayment Date without penalty.

 

4.                         Without
derogating from the generality of the provisions of this Agreement, CG shall be
entitled to demand the immediate repayment of the Loan on the occurrence of any
one of the events enumerated below, in which case Lifewatch undertakes to pay
CG the Loan due to CG, and CG shall be entitled to take whatever steps it deems
fit for the collection of the Loan provided under this Agreement:

 

(a)                    If
Lifewatch commits a breach of or defaults in the performance of any of the
terms and conditions contained in this Agreement or if Lifewatch is in breach
of any covenant or other obligations which Lifewatch has or has incurred or may
incur towards CG and such default shall not have been remedied within five days
after receipt of written notice thereof by Lifewatch; or if it transpires that
any statement, declaration, representation

 

1

 

or warranty made by
Lifewatch in this Agreement or any other declaration in connection with the
loan made heretofore or hereafter by Lifewatch to CG is false or inaccurate;

 

(b)                   If
Lifewatch, without CG advance approval, adopts one or more resolutions for a
merger, combination, restructuring or other structural changes or resolutions
creating or involving a transferring company or a spin-off company, and such
resolutions are contrary to any of the provisions contemplated hereunder; or
adopts a voluntary winding up resolution or if an order for winding up is made
against Lifewatch or if a temporary liquidator or special manager or other
similar person is appointed over Lifewatch or its assets or if the name of
Lifewatch is struck out from any official register kept by law;

 

(c)                    If
a receiver or similar function is appointed or a receiving order is made over
any of Lifewatch’s assets;

 

(d)                   If
an attachment or similar process of execution is levied against any part of
Lifewatch’s assets and such attachment or similar process is not removed within
30 days;

 

(e)                    If
Lifewatch ceases to pay their debts for 10 or more days;

 

(f)                      If
work at Lifewatch’s business ceases or is substantially curtailed, for 30 days
or more;

 

(g)                   If
Lifewatch makes an assignment for the benefit of its creditors, or shall be
adjudicated insolvent or bankrupt or if any such proceeds are commenced against
Lifewatch under any bankruptcy or similar law.

 

5.        Undertakings by Lifewatch

 

Lifewatch hereby
undertake as follows:

 

(a)                    Not
to mortgage, charge, pledge or otherwise encumber any of its assets in any manner
or form, with or without consideration, without obtaining CG’s prior written
consent.

 

(b)                   Not
to sell, lease, assign any rights in, or otherwise dispose of any of its assets
(except in the ordinary course of business) without obtaining CG’s prior written
consent.

 

(c)                    To
inform CG immediately should
any third-party lien be threatened or made on any of its assets or should any
execution office proceeding/bailiff threaten its assets. Further, it shall, at
its own expense, and with no delay, undertake every action and effort in order
to remove the said third party lien and/or other threatened action.

 

2

 

6.        General

 

(a)                     This
Loan Agreement may be executed in any number of counterparts, each of which
shall be deemed an original and enforceable against the parties actually
executing such counterpart, and all of which together shall constitute one and
the same instrument.

 

(b)                    No
delay or omission to exercise any right, power, or remedy accruing to any party
upon any breach or default under this Agreement, shall be deemed a waiver of
any other breach or default theretofore or thereafter occurring.

 

(c)                     Any
term of this Agreement may be amended and the observance of any term hereof may
be waived only with the written consent of all the parties to this Agreement.

 

(d)                    This
Agreement shall be construed and enforced in accordance with, and the rights of
the parties shall be governed by, the laws of the State of Israel, without
regard to choice of law principles. For the purpose of this Agreement the
exclusive place of jurisdiction shall be the competent courts of law in Tel
Aviv-Jaffa. Lifewatch hereby irrevocably submits to the jurisdiction of these
courts.

 

IN
WITNESS WHEREOF, each of the parties have caused this Loan
Agreement to be executed.

 

 

	
  Card
  Guard Scientific Survival Ltd.

  	
   

  	
  Lifewatch
  Holding Corporation

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ [ILLEGIBLE]

  	
   

  	
   

  	
  By:

  	
  /s/ [ILLEGIBLE]

  	
   

  
	
  Name:

  	
   

  	
  Name:

  
	
  Title:

  	
   

  	
  Title:

  
	
  Date:

  	
   

  	
  Date:

  
							

 

3Exhibit 4.12  

	

 	KPMG LLP

Chartered Accountants

2700-205 5 Avenue SW

Calgary AB    T2P 4B9	

Telephone (403) 691-8000

Telefax (403) 691-8008

Internet www.kpmg.ca

	 

The securities regulatory authorities in each of the provinces and territories of Canada 

Dear
Sirs: 

Re: TransCanada Corporation (the "Company")

We
refer to the short form prospectus of the above Company dated January 31, 2007 relating to the offering of up to $3,000,000,000 common shares, first preferred shares, second preferred shares
and subscription receipts of the Company. 

We
consent to the use, through incorporation by reference in the short form prospectus, of our report dated February 27, 2006 to the shareholders of the Company on the following financial
statements: 

	•
	Consolidated
balance sheets as at December 31, 2005 and 2004; and

	•
	Consolidated
statements of income, retained earnings and cash flows for each of the years in the three-year period ended December 31, 2005. 

We
also consent to the use, through incorporation by reference in the short form prospectus, of our report dated February 27, 2006 to the shareholders of the Company on the related supplemental
note entitled "Reconciliation to United States GAAP" as at December 31, 2005 and 2004 and for each of the years in the three-year period ended
December 31, 2005. 

We
report that we have read the short form prospectus and all information specifically incorporated by reference therein and have no reason to believe that there are any misrepresentations in the
information contained therein that are derived from the consolidated financial statements upon which we have reported or that are within our knowledge as a result of our audit of such consolidated
financial statements. 

This
letter is provided solely for the purpose of assisting the securities regulatory authorities to which it is addressed in discharging their responsibilities and should not be used for any other
purpose. Any use that a third party makes of this letter, or any reliance or decisions based on it, are the responsibility of such third parties. We accept no responsibility for loss or damages, if
any, suffered by any third party as a result of decisions made or actions taken based on this letter. 

	 

Yours very truly 

(Signed)
KPMG LLP 

Chartered
Accountants 

Calgary,
Canada

January 31, 2007 

	 

KPMG LLP, a Canadian limited liability partnership is the Canadian

member firm of KPMG International, a Swiss cooperativeEXHIBIT 10

EXHIBIT 10.1

FORM OF SUBSCRIPTION AGREEMENT

First Corporation 

1630 York Avenue

New York, NY 10028

Gentlemen: 

1. Pursuant to the terms of the offer made by First Corporation (the "Company"), the undersigned hereby tenders this subscription and applies for the purchase of the number of shares ("Shares") of the Company set forth on the signature page hereto, at a purchase price of US$1,500 per 10,000 shares of common stock of First Corporation ($0.15  per share). 

The Company is offering a minimum of six hundred and sixty-six thousand, six hundred and sixty-seven Shares ($100,000) and a maximum of two million Shares ($300,000) (the "Offering"). 

The subscriber is sending: (1) an executed copy of this Subscription Agreement; and (2) EITHER A CHECK IN US FUNDS made out to "Joseph I. Emas as Escrow Agent" (the “Escrow Agent”) for the full amount of the purchase price for the Shares for which the undersigned is subscribing to: 

Joseph I. Emas

1224 Washington Avenue 

Miami Beach, Florida 33139 

Reference: (Your Name) for First Corporation 

OR 

The subscriber may WIRE TRANSFER immediately available U.S. funds for the full amount of the purchase price of the Shares for which the undersigned is subscribing plus all wire transfer fees to: 

Wachovia Bank

Surfside, Florida

 Account:  Joseph I. Emas, P.A.

                Attorney-at-Law

Account Number:  2000015545590

Reference: (Your Name) for First Corporation 

2. The Escrow Agent shall deposit all subscription funds received into a non-interest bearing attorney’s trust account in accordance with the requirements of the Florida Bar.

If the Company does not complete the Minimum Offering within 180 days from the 

97

Effective Date, the Escrow Agent shall promptly return each subscriber’s respective subscription funds.

If the Company completes the Minimum Offering within 180 days from the Effective Date and provides the Escrow Agent with certificates representing the shares of common stock subscribed for by the Subscribers, the Escrow Agent shall forthwith release the subscription funds to the Company.

3. The Company has filed, a registration statement on Form SB-2 (the "Registration Statement") or such other form as shall be available registering the common shares and sales may be made pursuant to an effective prospectus, a copy of which has been made available to the investor to be used in accordance with the Plan of Distribution instructions in the prospectus.

4. The undersigned understands that the Company may, in its sole discretion, reject this subscription, in whole or in part, and/or reduce this subscription in any amount and to any extent, whether or not pro rata reductions are made of any other investor's subscription. 

5. Neither this Subscription Agreement nor any of the rights of the undersigned hereunder may be transferred or assigned by the undersigned. 

6. Except as otherwise provided herein, this Subscription Agreement (i) may only be modified by a written instrument executed by the undersigned and the Company; (ii) sets forth the entire agreement of the undersigned and the Company with respect to the subject matter hereof; (iii) shall be governed by the laws of the State of Florida applicable to contracts made and to be wholly performed therein; and (iv) shall inure to the benefit of, and be binding upon the Company and the undersigned and their respective heirs, legal representatives, successors and permitted assigns. 

7. Unless the context otherwise requires, all personal pronouns used in this Subscription Agreement, whether in the masculine, feminine or neuter gender, shall include all other genders. 

8. All notices or other communications hereunder shall be in writing and shall be deemed to have been duly given if delivered personally or mailed by certified or registered mail, return receipt requested, postage prepaid, as follows: if to the undersigned, to the address set forth on the signature page hereto; and if to the Company, to the address listed above or to such other address as the Company or the undersigned shall have designated to the other by like notice. 

98

SIGNATURE PAGE

IN WITNESS WHEREOF, the undersigned has executed this Subscription Agreement this ______ day of _________________ 2006. 

 Number of Shares Subscribed for _________________________________ 

	ORGANIZATION SIGNATURE:                 INDIVIDUAL SIGNATURE:

__________________________________      ______________________________________

Print name of Organization                        Signature

By: _______________________________     ______________________________________

      Name:                                       Print Name

      Title:

                                        ______________________________________

                                        Additional Signature of Joint Owner

                                        _______________________________________

                                                  Print Name

(ALLSUBSCRIBERS SHOULD PLEASE PRINT INFORMATION BELOW EXACTLY   

AS YOU WISH IT TO APPEAR IN THE RECORDS OF 

	                                  THE COMPANY)

____________________________________    ______________________________________

Name                                    Social Security Number of Individual

                                        or other Taxpayer I.D. Number

Address:                                Address for notices if different:

____________________________________    ______________________________________

Number and Street                       Number and Street

____________________________________    ______________________________________

  

City State Zip Code City State Zip Code 

Please check the box to indicate form of ownership (if applicable): 

	TENANTS-IN-COMMON    JOINT TENANTS WITH RIGHT OF       COMMUNITY PROPERTY

(Both Parties must   SURVIVORSHIP                      (Both Parties must sign

sign above)          (Both Parties must sign above)    above)

The subscriber is sending: (1) an executed copy of this Subscription Agreement; and (2) EITHER A CHECK IN US FUNDS made out to "Joseph I. Emas as Escrow Agent"  (the “Escrow Agent”) for the full amount of the purchase price for the Shares for which the undersigned is subscribing to: 

Joseph I. Emas

1224 Washington Avenue 

Miami Beach, Florida 33139 

Reference: (Your Name) for First Corporation                            99

OR 

The subscriber may WIRE TRANSFER immediately available U.S. funds for the full amount of the purchase price of the Shares for which the undersigned is subscribing plus all wire transfer fees to: 

Wachovia Bank

Surfside, Florida

 Account:  Joseph I. Emas, P.A.

                Attorney-at-Law

Account Number:  2000015545590

Reference: (Your Name) for First Corporation 

ACCEPTANCE OF SUBSCRIPTION 

The foregoing subscription is hereby accepted by First Corporation this ____ day of __________________, 2006, for __________________________ Shares. 

FIRST CORPORATION 

By: _____________________________ 

Name: 

Title:

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