0001144204-11-061530 Sample Contracts

STOCK PLEDGE AGREEMENT
Stock Pledge Agreement • November 7th, 2011 • Lightyear Network Solutions, Inc. • Telephone communications (no radiotelephone) • Indiana

THIS STOCK PLEDGE AGREEMENT (hereinafter referred to as this “Agreement”) is made this the 4th day of November, 2011, by LY HOLDINGS, LLC, a Kentucky limited liability company (hereinafter referred to as “Pledgor”) in favor of FIRST SAVINGS BANK, F.S.B. (hereinafter referred to as “Creditor”).

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SECURITY AGREEMENT
Security Agreement • November 7th, 2011 • Lightyear Network Solutions, Inc. • Telephone communications (no radiotelephone) • Kentucky

THIS SECURITY AGREEMENT (this “Agreement”) is made, entered into and effective as of the 4th day of November, 2011 by and between (i) LY Holdings, LLC, a Kentucky limited liability company (“LYH”), and (ii) Lightyear Network Solutions, Inc., a Nevada corporation (“LNS”).

COLLATERAL RELEASE AGREEMENT
Collateral Release Agreement • November 7th, 2011 • Lightyear Network Solutions, Inc. • Telephone communications (no radiotelephone) • Kentucky

THIS COLLATERAL RELEASE AGREEMENT (this “Agreement”) is made and entered into as of the 4th day of November, 2011, by and among (i) LY HOLDINGS, LLC, a Kentucky limited liability company (“Pledgor”), (ii) LIGHTYEAR NETWORK SOLUTIONS, INC., a Nevada corporation (“Debtor”), and (iii) FIRST SAVINGS BANK, F.S.B. (hereinafter referred to as “Creditor”).

TERM NOTE
Term Note • November 7th, 2011 • Lightyear Network Solutions, Inc. • Telephone communications (no radiotelephone)

For Value Received, the undersigned, LY Holdings, LLC, a Kentucky limited liability company, with its main office located at 1901 Eastpoint Parkway, Louisville, Kentucky 40223 (the “Maker”), hereby promises and agrees to pay to the order of Lightyear Network Solutions, Inc., with its main office located at 1901 Eastpoint Parkway, Louisville, Kentucky 40223 (hereinafter the “Payee”), the principal sum equal to One Million Two Hundred Twenty Three Thousand Two Hundred Three Dollars ($1,223,203.02), together with all accrued interest thereon computed and payable in the manner set forth below. The unpaid principal balance of, and all accrued interest on, this Note, unless sooner paid, shall be due and payable in full on November 4, 2016 (the “Maturity Date”).

GUARANTY
Guaranty • November 7th, 2011 • Lightyear Network Solutions, Inc. • Telephone communications (no radiotelephone) • Kentucky

In consideration of Chris T. Sullivan (“Lender”) entering into the transactions contemplated by the Intercompany Obligations Settlement Agreement dated the date hereof by and among LY Holdings, LLC (the "Limited Liability Company"), Lightyear Network Solutions, Inc., Lightyear Network Solutions, LLC and as an inducement to financial accommodations made or to be made by Lender to Lightyear Network Solutions, Inc. and Lightyear Network Solutions, LLC (collectively, “Debtor”), a substantial portion of the equity of which is owned directly or indirectly by the Limited Liability Company, and for other good and valuable consideration the receipt of which is acknowledged, J. Sherman Henderson (“Guarantor”) hereby unconditionally guarantees Lender the prompt payment and performance of the following (hereinafter collectively referred to as the “Obligations”): all loans, advances, debts, liabilities, obligations, covenants and duties owing to Lender from Debtor of any kind or nature, present or

STOCK PLEDGE AGREEMENT
Stock Pledge Agreement • November 7th, 2011 • Lightyear Network Solutions, Inc. • Telephone communications (no radiotelephone) • Kentucky

THIS STOCK PLEDGE (“Agreement”) is made, entered into and effective this the 4th day of November, 2011 by and between LY Holdings, LLC, a Kentucky limited liability company, with its main office located at 1901 Eastpoint Parkway, Louisville, Kentucky 40223 (the “Debtor”) and Lightyear Network Solutions, Inc., with its main office located at 1901 Eastpoint Parkway, Louisville, Kentucky 40223 (the “Secured Party”),

TERM NOTE
Term Note • November 7th, 2011 • Lightyear Network Solutions, Inc. • Telephone communications (no radiotelephone)

For Value Received, the undersigned, Lightyear Network Solutions, Inc., a Nevada corporation, and Lightyear Network Solutions, LLC, with their main offices located at 1901 Eastpoint Parkway, Louisville, Kentucky 40223 (collectively, the “Makers” and individually, a “Maker”), hereby jointly and severally promise and agree to pay to the order of Chris T. Sullivan, an individual resident of Florida and his successors and assigns (hereinafter the “Payee”), the principal sum of Six Million Two Hundred Fifty Thousand and 00/100 Dollars ($6,250,000), together with all accrued interest thereon computed and payable in the manner set forth below. The unpaid principal balance of, and all accrued interest on, this Note, unless sooner paid, shall be due and payable in full on January 10, 2013 (the “Maturity Date”).

SECURITY AGREEMENT
Security Agreement • November 7th, 2011 • Lightyear Network Solutions, Inc. • Telephone communications (no radiotelephone) • Kentucky

This Security Agreement (this “Agreement”) is made and effective this 4th day of November, 2011, by and among LIGHTYEAR NETWORK SOLUTIONS, INC., a Nevada corporation, LIGHTYEAR NETWORK SOLUTIONS, LLC, a Kentucky limited liability company, each having an address of 1901 Eastpoint Parkway, Louisville, Kentucky 40223 (collectively, “Grantors” and individually, a “Grantor”), and CHRIS T. SULLIVAN, an individual resident of Florida, having an address of 3717 W. North B Street, Tampa, Florida 33609, and his successors and assigns (“Secured Party”).

Intercompany Obligations Settlement Agreement
Intercompany Obligations Settlement Agreement • November 7th, 2011 • Lightyear Network Solutions, Inc. • Telephone communications (no radiotelephone) • Kentucky

This Intercompany Obligations Settlement Agreement (“Agreement”) is made and entered into this the 4th day of November, 2011 by and among (i) LY Holdings, LLC (“LYH”); (ii) Lightyear Network Solutions, Inc. formerly known as Libra Alliance Corporation (“LYNS”) and (iii) Lightyear Network Solutions, LLC (“LNSLLC”); and (iv) Chris Sullivan (“Sullivan”).

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