FORM OF PROMISSORY NOTE
Exhibit
10.22
FORM
OF
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$_______
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______________,
2005
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FOR
VALUE RECEIVED,
the
undersigned, Impart Media Group, Inc. (f/k/a Limelight Media Group, Inc.),
a
Nevada corporation (the “Maker”), promises to pay to _____________, an
individual residing at _______________________________________________ (the
“Holder”), the principal sum of __________________________ DOLLARS ($________),
without interest thereon, by wire transfer of immediately available funds
to an
account designated by Holder on or before December 1, 2005.
This
Note
may be prepaid by the Maker in whole at any time or in part from time to
time,
without penalty.
No
change, amendment, modification, termination, waiver, or discharge, in whole
or
in part, of any provision of this Note shall be effective unless in writing
and
signed by Xxxxxx.
This
Note
shall become immediately due and payable automatically if the Maker shall
commence a voluntary case or other proceeding seeking relief with respect
to
itself or its debts under any bankruptcy, insolvency or other similar law
now or
hereafter in effect or seeking the appointment of a trustee, receiver, custodian
or other similar official of its or any substantial part of its property,
or
shall consent to any such relief or to the appointment of or taking of
possession by any such official in an involuntary case or other proceeding
commenced against it, or shall make a general assignment for the benefit
of
creditors.
This
Note
shall be governed by and construed in accordance with the laws of the State
of
New York without giving effect to principles of conflict or choice of laws.
Any
amounts due hereunder that are not paid when due shall bear interest until
paid
in full at the rate of 8% per annum. Interest shall be calculated on the
basis
of a 360 day year for the actual number of days elapsed.
This
Note
shall inure to the benefit of Xxxxxx and its successors and assigns and shall
be
binding on Maker and its successors and assigns.
This
Note
shall not be assigned by Maker without Xxxxxx’s prior written
consent.
Maker
hereby waives presentment, demand for payment, protest and notice of
dishonor.
IN
WITNESS WHEREOF,
Xxxxx
has duly executed this Note the day and year first above written.
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LIMELIGHT
MEDIA GROUP, INC.
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By:
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/s/ Xxxxx X. Xxxx | |
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Name:
Xxxxx X. Xxxx
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Title:
Chief Executive Officer
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Payment
additionally guaranteed individually by __________, personally, for the sums
due
plus any expense in collection thereof.
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Name:
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