AMENDMENT TO SENIOR SECURED PROMISSORY NOTE DATED NOVEMBER 4, 2005
EXHIBIT 10.1
AMENDMENT TO SENIOR SECURED PROMISSORY NOTE
DATED NOVEMBER 4, 2005
WHEREAS, the Parties entered into the Stock Purchase Agreement (“SPA”) dated July 1, 2005 and the Senior Secured Promissory Note (“Note”) dated July 1, 2005; and
WHEREAS, the Parties desire amend the repayment included in Schedule 1 of the Note.
NOW THEREFORE, in consideration of the mutual covenants and promises herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties each intending to be legally bound, agree to amend the Schedule 1 of the Note in its entirety as follows:
SCHEDULE 1
Payment Schedule
|
Date |
Amount |
|
November 30, 2005 |
USD $50,000.00 |
|
December 31, 2005 |
USD $50,000.00 |
|
January 31, 2006 |
USD $50,000.00 |
|
February 28, 2006 |
USD $50,000.00 |
|
March 31, 2006 |
USD $50,000.00 |
|
April 30, 2006 |
USD $50,000.00 |
|
May 31, 2006 |
USD $50,000.00 |
|
June 30, 2006 |
USD $270,000.00 |
|
TOTAL |
USD $620,000.00 |
Except as expressly amended herein, there are no other amendments, implied or otherwise, to the Note, SPA or any other agreement between the parties.
This agreement may be executed in any number of counterparts, each of which, when executed, is an original. Those counterparts together make one instrument.
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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and delivered by their respective corporate officers thereunto duly authorized on the day and year first above written.
BUYER: |
Ominira Networks, LLC |
By: |
/s/ Xx. Xxx Xxxx |
| ||
Name: |
Xx. Xxx Xxxx |
| ||
Title: |
President and Chief Executive Officer, | |||
|
Ominira Networks, LLC |
| ||
COMPANY: |
IA Global Acquisition Co., Ltd. |
By: |
/s/ Xx. Xxx Xxxx |
| ||
Name: |
Xx. Xxx Xxxx |
| ||
Title: |
President and Chief Executive Officer, | |||
|
Ominira Networks, LLC |
| ||
SELLER: |
IA Global, Inc. |
By: |
/s/ Xxxx Xxxxx |
| |
Name: |
Xxxx Xxxxx |
| |
Title: |
President, IA Global, Inc. | ||
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