SECURED PROMISSORY NOTE ----------------------- $700,000 Los Angeles, California November 12, 1999 FOR VALUE RECEIVED, the undersigned, MEDIACHASE LTD., a Delaware corporation ("Borrower") promises to pay to the order of INTERNETSTUDIOS.COM, INC., a...Secured Promissory Note • December 6th, 1999 • Internetstudios Com Inc • Services-business services, nec
FOR VALUE RECEIVED, the undersigned, MEDIACHASE LTD., a Delaware corporation ("Borrower") promises to pay to the order of INTERNETSTUDIOS.COM, INC., a Nevada corporation ("Lender"), at 1351 Fourth Street, Suite 227, Santa Monica, California 90401, or at such other place as Lender may from time to time designate, the principal sum of Seven Hundred Thousand Dollars ($700,000), or so much thereof as shall have been advanced against this Note and shall be outstanding, and to pay interest on the unpaid principal balance from time to time outstanding at the rate of ten percent (10%) per annum until paid, commencing on the date hereof. Principal and interest under this Note shall be due and payable in full on the earlier of (i) January 31, 2000, and (ii) the Transaction Closing Date (as hereinafter defined). As used herein, the term "Transaction Closing Date" shall mean the date on which the transactions contemplated by that certain Deal Memo, dated September 9, 1999, between Borrower and Onl
