Amendment No. 3 to the Senior Secured Convertible Promissory Note original due date March 31, 2006
Amendment No. 3
to the Senior Secured Convertible Promissory Note
original due date March 31, 2006
This Amendment No. 3 (“Amendment”) is hereby made between FinancialContent Services, Inc. (“Maker”), and Jade Special Strategy, LLC (“Holder”) (hereinafter Maker and Holder each a “Party” and collectively “Parties”).
WHEREAS, Maker was unable to pay the Senior Secured Convertible Promissory Note ( the “Note”) in full by December 31, 2007;
WHEREAS, Maker had previously agreed to increase the principal of the Note by $75,000;
WHEREAS, Maker had previously agreed to a one-time penalty of less than $50,000 to be determined no later than February 29, 2008;
NOW THEREFORE, in consideration of the mutual covenants and agreements contained herein, the Parties agree to modify the terms and conditions of the Note as follows:
|
1) |
Holder agrees to waive the one-time penalty; |
|
2) |
Maker agrees to increase the principal of the Note by $10,000 if the Note is not paid in full by March 15, 2008. |
IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their duly authorized representatives as of the date indicated below.
FinancialContent, Inc. |
Jade Special Strategy, LLC |
By: |
/s/______________________ |
By: |
/s/______________________ |
Name: Wing Yu |
Name: Xxxxx Xxxxxx |
Title: Chief Executive Officer |
Title: Manager |
Date: February 22, 2008 |
Date: February 26, 2008 |