Lender Agreement
Exhibit 10.1
This Lender Agreement ("Agreement") is entered into by and between OrangeHook, Inc. ("OrangeHook"), a Florida corporation with headquarter offices at 000 Xxxxx Xxx. X., Xxx. 000, Xxxxxxx, XX 00000 and Xxxxxxx Xxxxxxxxx ("Xxxxxxxxx") of 0000 Xxxxxxxx Xxxxx X., Xxxxxxxx, XX 00000 (collectively, the "Parties") on March 2, 2017 ("Date of Origination").
The Parties agree as follows:
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1.
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By lender agreement dated January 19, 2017 (see attached), OrangeHook acknowledges that the loan amount of $300,000 ("Loan 1") plus accrued interest of $26,400 (44 days at $600 per day) remains due as of March 2, 2017. Additional interest equal to 20 bps per day will continue to accrue until the loan balance is repaid.
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2.
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In consideration for an additional loan dated March 2, 2017 from Xxxxxxxxx in the amount of $300,000 ("Loan 2"), OrangeHook will pay Xxxxxxxxx 00 basis points per day until the Loan2 is repaid no later than March 17, 2017 ("Loan Period"); provided, however, that the amount owed to Xxxxxxxxx will be a minimum of $9,000 in interest, even if the Loan is repaid prior to fifteen (15) days from the Date of Origination of Loan2.
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3.
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The maturity date of both Loan 1 and Loan 2, as well as all accrued and unpaid interest, is March 17, 2017.
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4.
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This Agreement supersedes all prior negotiations, commitments, agreements and writings with respect to the subject matter hereof except the Confession of Judgment and Personal Guaranty each dated March 2, 2017. All such other negotiations, commitments, agreements and writings will have no further force or effect, and the parties to any such other negotiation, commitment, agreement or writing will have no further rights or obligations thereunder.
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Agreed to and Accepted By:
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/s/ Xxxxx X. Xxxxxxx
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Date: 3/2/17
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Xxxxx X. Xxxxxxx
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Title: CFO
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/s/ Xxxxxxx Xxxxxxxxx
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Date: 3/2/17
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Xxxxxxx Xxxxxxxxx
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