SKYLYNX COMMUNICATIONS, INC. 500 John Ringling Boulevard Sarasota, FL 34236 December 15, 2005
SKYLYNX COMMUNICATIONS, INC.
000 Xxxx Xxxxxxxx Xxxxxxxxx
Xxxxxxxx, XX 00000
December 15, 2005
AJW Partners, LLC
New Millennium Capital Partners II, LLC
AJW Offshore, Ltd.
AJW Qualified Partners, LLC
0000 Xxxxxxxx Xxxxxxxxx
Xxxxx 000
Xxxxxx, Xxx Xxxx 00000
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Re: |
Skylynx Communications, Inc. (the "Company") - |
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Ladies and Gentlemen:
This letter sets forth the agreement of the parties hereto to amend the conversion price of certain notes originally issued by the Company to the investors listed in the signature pages hereto (collectively, the "Investors"), on July 29, 2005 (the "Notes").
By execution hereof, for good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree that:
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1. |
The Applicable Percentage (as defined in each of the Debt Instruments) shall be 55%. |
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2. |
The Notes are hereby amended in accordance with the foregoing provision. All other provisions of the Notes, as amended from time to time, shall remain in full force and effect. |
In addition, as consideration for entering into this letter agreement, the Investors agree to waive any all penalties that are now due and owing to the Investors for their failure to file the registration statement on time. In addition, the Investors agree that the Company is not in Default under the terms of the Notes. Lastly, the Investors agree that there will be no additional penalties or an Event of Default under the Notes, so long as the registration statement is filed by December 31, 2005.
The parties shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other parties hereto may reasonably request in order to carry out the intent an accomplish the purposes of this letter agreement, including without limitation the issuance of amended Notes.
Please signify your agreement with the foregoing by signing a copy of this letter where indicated and returning it to the undersigned.
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Sincerely, |
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SKYLYNX COMMUNICATIONS, INC. |
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/s/ Xxxx Xxxxx |
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Xxxx Xxxxx |
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Chief Executive Officer |
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ACCEPTED AND AGREED: |
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AJW PARTNERS, LLC. |
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By: SMS GROUP, LLC |
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/s/ Xxxxx X. Xxxxxxxx |
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Xxxxx X. Xxxxxxxx, Manager |
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NEW MILLENNIUM CAPITAL PARTNERS II, LLC |
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By: FIRST STREET MANAGER II, LLC, |
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/s/ Xxxxx X. Xxxxxxxx |
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Xxxxx X. Xxxxxxxx, Manager |
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AJW OFFSHORE, LTD. |
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By: FIRST STREET MANAGER II, LLC |
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/s/ Xxxxx X. Xxxxxxxx |
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Xxxxx X. Xxxxxxxx, Manager |
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AJW QUALIFIED PARTNERS, LLC |
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By: AJW MANAGER, LLC |
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/s/ Xxxxx X. Xxxxxxxx |
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Xxxxx X. Xxxxxxxx, Manager |
