AMENDMENT TO CONVERTIBLE NOTE
AMENDMENT
TO CONVERTIBLE NOTE
This
Amendment to Convertible Note (“Agreement”) is entered into this 30th day of
June 2008, by Interstate Data USA, Inc. (the “Company”) and Xx. Xxxxxxx X. Xxxx
(“Noteholder”).
PRELIMINARY
STATEMENTS
WHEREAS,
the
Company has previously issued to Xx. Xxxxxxx Ikpobe the convertible promissory
note attached hereto as Annex
A
(the
“Note”) in the aggregate principal amount of $100,000;
WHEREAS,
Mr.
Ikpobe previously assigned the Note to the Noteholder pursuant to the assignment
attached hereto as Annex
B
(the
“Assignment”);
WHEREAS,
the maturity date under the Note is June 30, 2008; and
WHEREAS,
the Company has requested, and the Noteholder has agreed, subject to the terms
and conditions set forth herein, to extend the maturity date under the Note
to
December 31, 2008 and to waive all defaults under the Note, if any;
NOW,
THEREFORE, in consideration of the foregoing, of the mutual agreements
hereinafter set forth, and of other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto hereby
agree follows:
1. The
parties agree that the recitals set forth above are true and correct and are
incorporated into this Agreement by reference.
2. The
parties agree that the maturity date under the Note shall be extended to
December 31, 2008.
3. The
Noteholder hereby waives in its entirety any and all defaults under the
Note.
4. Except
as
provided herein, all other terms of the Note are ratified and
confirmed.
5. This
Agreement shall bind and inure to the benefit of the parties hereto, their
respective successors and permitted assigns.
6. This
Agreement may be executed in counterparts, each of which shall constitute an
original, and all of which, taken together, shall constitute the same
instrument.
7. This
Agreement shall be governed by and construed in accordance with the laws of
the
State of Texas. Any action brought by either party against the other concerning
the transactions contemplated by this Agreement shall be brought only in the
state or federal courts of located in the state of Texas.
8. This
Agreement may be executed by facsimile signature and that such facsimile
signature shall have the same effect as original signatures.
[Signature
Page Follows]
IN
WITNESS WHEREOF, the parties have executed this Agreement the day and year
first
above written.
INTERSTATE
DATA USA, INC.
By:
_____________________
Name:
Xxxxxxx X. Xxxxxxxxx
Title:
President
NOTEHOLDER:
_____________________
Xx.
Xxxxxxx X. Xxxx
Annex
A
Convertible
Note
Annex
B
Assignment
of Note
