LAURUS MASTER FUND, LTD. c/o Laurus Capital Management, LLC 825 Third Avenue, 14th Fl. New York, New York 10022Stonepath Group Inc • February 15th, 2007 • Arrangement of transportation of freight & cargo
Reference is made to the Security Agreement dated as of August 31, 2005 by and among Stonepath Group, Inc., a Delaware corporation (“Stonepath”), certain subsidiaries of Stonepath named therein or which hereafter become a party thereto (each a “Company”, collectively, the “Companies”) and Laurus Master Fund, Ltd. (“Laurus”) (as amended, modified and/or supplemented from time to time, the “Security Agreement”). Capitalized terms used but not defined herein shall have the meanings ascribed them in the Security Agreement.
ASSIGNMENT OF LOANS, LIENS AND LOAN DOCUMENTSLiens and Loan Documents • February 15th, 2007 • Stonepath Group Inc • Arrangement of transportation of freight & cargo • New York
THIS ASSIGNMENT OF LOANS, LIENS AND LOAN DOCUMENTS (this “Agreement”) dated as of February 9, 2007 by and among LAURUS MASTER FUND, LTD, a Cayman Islands company (“Assignor”), MASS FINANCIAL CORP., a Barbados company (“Assignee”), Stonepath Group, Inc., a Delaware corporation (“Stonepath”), and the other entities appearing on the signatures pages hereof.
February 9, 2007 Stonepath Group, Inc. Attention: Mr. Bob Arovas Dear Sirs:Stonepath Group Inc • February 15th, 2007 • Arrangement of transportation of freight & cargo • British Columbia
The following letter agreement sets out the terms upon which Mass Financial Corp. or one of its affiliates (“Mass”) will provide financing to Stonepath Group, Inc. (“Stonepath”). The terms are as follows:
