DEMAND NOTE
This Note has been executed by XXXXXXX, L.P., a Delaware Limited Partnership
with its principal office located at 000 Xxxxxxx Xxxxxx Xxxxxxxxx, Xxxxxx, XX
00000 ("Borrower").
ON DEMAND, for value received, Xxxxxxxx promises to pay to the order of ONEPOINT
COMMUNICATIONS CORP., a Delaware corporation ("Lender"), at its office at 0000
Xxxxxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxx 00000, or at such other place as Lender
may direct, the principal sum of NINE HUNDRED THOUSAND AND NO/100 United States
Dollars ($900,000). Interest shall accrue on the outstanding principal amount of
this Note at a rate equal to 15% per annum and shall be payable at such time as
the principal of this Note becomes due and payable.
This Note shall bind Borrower, its successors and assigns, and shall inure to
the benefit of Xxxxxx, its successors and assigns, except that Borrower may not
transfer or assign any of its rights or interest hereunder without the prior
written consent of Xxxxxx.
Xxxxxxxx agrees to pay upon demand all expenses (including without limitation
attorneys' fees, legal costs and expenses, in each case whether in or out of
court, in original or appellate proceedings or in bankruptcy) incurred or paid
by Xxxxxx in connection with the enforcement or preservation of its rights
hereunder.
The amounts due under this Note are secured by the Security Agreement of even
date herewith encumbering the accounts receivable of Borrower.
Except as otherwise expressly provided herein, Borrower expressly and
irrevocably waives notice of dishonor or default as well as presentment,
protest, demand and notice of any kind in connection herewith. In addition,
Xxxxxxxx expressly agrees that this Note, or any payment hereunder, may be
extended from time to time and the holder hereof may accept security for this
Note, all without in any way affecting the liability of the Borrower hereunder.
This Note shall be governed by and construed in accordance with the internal law
of the State of Illinois, and shall be deemed to have been executed in the State
of Illinois.
COMPLUS, L.P.
By: AMI-VCOM2, Inc., its General Partner
By: ____________________________
Name Printed: __________________
Title: _________________________
Date: __________________________
