Dutchess Private Equities Fund, II, L.P. August 18, 2006Securac Corp • September 11th, 2006 • Services-computer programming services • New York
Reference is made to that certain Debenture Agreement, Security Agreement, Debenture Registration Rights Agreement, Subscription Agreement and Escrow Agreement, each effective as of September 30, 2005 (as heretofore amended, the “Transaction Documents”), between Securac Corp. (the “Borrower” or “you”) and Dutchess Private Equities Fund, II, L.P. (the “Holder” or “we”) (sometimes hereinafter the Borrower and the Holder are referred to collectively as the "parties"). Capitalized terms used herein and not otherwise defined herein shall have the respective meanings set forth in the Transaction Documents, and are incorporated by reference. Copies of the Transaction Documents are attached as exhibits 10.1 through 10.4 and 10.8 to the Borrower’s Current Report on Form 8-K filed with the Securities and Exchange Commission on October 6, 2005.
