ADDENDUM-TERMINATING EVENTS
ADDENDUM-TERMINATING EVENTS
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Borrower: |
NXT Aero USA Inc. |
Lender: |
Aviation Finance Group, LLC |
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0000 X. Xxxxxx Xxxx Xxxxxxxxx |
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0000 Xxxxxxx Xx. |
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Xxx Xxxxx, XX 00000 |
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Xxxxx 000 |
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Xxxxx, XX 00000 |
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Guarantor: |
Energy Exploration Technologies |
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000 0xx Xxxxxx X.X., Xxxxx 000 |
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Xxxxxxx, XXX X0X0X0 |
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This Addendum - TERMINATING Events is attached to and by this reference is made a part of the Commercial Guaranty, dated November 6, 2000, and executed in connection with this loan or other financial accommodations between AVIATION FINANCE GROUP, LLC ("Lender") and NXT Aero USA Inc. ("Borrower").
Notwithstanding anything contained in the Commercial Guaranty to the contrary, Lender shall, without notice of any nature whatsoever, enforce the full and prompt payment and performance of the Guarantor's obligations under this Commercial Guaranty until one of the following events shall have occurred (the "Terminating Events"):
- The ratio of (x) the unpaid principal balance of the loan to (y) the estimated retail value of the collateral, as determined by the lender in its discretion, is less than 50%.
THIS ADDENDUM - TERMINATING EVENTS IS EXECUTED ON NOVEMBER 6, 2000.
GUARANTOR:
ENERGY EXPLORATION TECHNOLOGIES
By: ___/s/ Xxxxxx X. Topolinsky_________________________ By: __/s/_John X. Xxxxxxxx, Xx._____________________
Xxxxxx X. Xxxxxxxxxx, President of Energy Exploration Technologies Xxxx X. Xxxxxxxx, Xx., Secretary of Energy Exploration Technologies
LENDER:
AVIATION FINANCE GROUP, LLC
By: ____________________________________________
