Exhibit 10.13
October 25, 2005
Amended March 21, 2006
Original Principal Amount: $800,000
Amended Principal Amount: $1,500,000
The parties hereto entered into a Secured Inventory Financing Agreement,
dated October 25, 2005 with Viper Motorcycle Company as the Maker and the undersigned Note holder, Xxxxx X. Xxxxxxxx, III, in the
original principal amount of $800,000.00.
FOR VALUABLE CONSIDERATION:
Maker and Note holder hereby agree to the following amendments to the terms of such Note:
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(1) |
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The principal financing amount from Lender shall be increased to
$1,250,000 as follows: |
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(A) |
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Increase the principal amount to $1,250,000 immediately; and
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(B) |
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An additional increase of $250,000 principal amount, as mutually
agreed by both parties. |
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(2) |
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The term of the agreement set forth in Section 8 of the original
Note shall be amended, as follows: |
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“The Agreement shall expire August 31., 2006 or upon the
closing of any secondary financing with the parent company, Viper Powersports Inc., whichever occurs first.” |
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(3) |
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All other terms and conditions of the original Note shall remain
in full force and effect. |
IN WITNESS WHEREOF, this Note
Amendment was executed by the parties’ hereto effective March 21, 2006.
VIPER MOTORCYCLE COMPANY | |
Xxxxx X. Xxxxxxxx, Noteholder |
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By: |
/s/ Xxxx Xxx
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By: |
/s/ Xxxxx Xxxxxxxx
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Xxxx Xxx |
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Xxxxx Xxxxxxxx |