RECITALS --------Employment Agreement • November 13th, 1997 • Grip Technologies Inc • Motor homes • California
CONVERTIBLE NOTE $___________ Irvine, CaliforniaConvertible Note • November 13th, 1997 • Grip Technologies Inc • Motor homes
FOR VALUE RECEIVED, on or before May 31, 1999, the undersigned, Grip Technologies, Inc., a California corporation ("Borrower"), promises to pay to the order of___________ or its successors or assigns ("Holder"), at ______________the principal sum of __________dollars ($_____) together with simple interest at the rate of eight percent (8%) per annum payable semi- annually. The entire principal and any upaid interest thereon shall be due and payable on May 31, 1999. Borrower may prepay any or all amounts due under this Note at any time without penalty: provided, however, Borrower, as a condition to repayment of some or all of the balance hereof, shall deliver written notice of its intention to prepay at least 30 calendar days prior to the date of such prepayment ("Prepayment Date") and cooperate with Holder in Holder's exercise of Holder's convertibility rights, as set forth below, if Holder elects to exercise such rights. Said payments shall first be applied to accrued interest and then
RECITALSSecurity Agreement • November 13th, 1997 • Grip Technologies Inc • Motor homes
CONVERTIBLE NOTE ------------------------- Irvine, CaliforniaConvertible Note • November 13th, 1997 • Grip Technologies Inc • Motor homes
FOR VALUE RECEIVED, on or before February 28, 1999, the undersigned, Grip Technologies, Inc., a California corporation ("Borrower"), promises to pay to the order of The Caroline Company, LLC or its successors or assigns ("Holder"), at Post Office Box 260001, Conway, South Carolina 29526-2601 the principal sum of One Hundred Thirty-Seven Thousand and Five Hundred dollars ($137,500) and accrued interest to date of Four Thousand Seven Hundred and Twenty-Six dollars ($4,726) ("Accrued Interest"), together with simple interest at the rate of eight percent (8%) per annum. The entire principal, Accrued Interest and interest thereon shall be due and payable on February 28, 1999. Borrower may prepay any or all amounts due under this Note at any time without penalty: provided, however, Borrower, as a condition to repayment of some or all of the balance hereof, shall deliver written notice of its intention to prepay at least 30 calendar days prior to the date of such prepayment ("Prepayment Date"
