PROMISSORY NOTEPromissory Note • February 6th, 2017 • xG TECHNOLOGY, INC. • Communications equipment, nec
FOR VALUE RECEIVED, the undersigned XG TECHNOLOGY, INC. (“Borrower”), a corporation organized under the laws of the State of Delaware having an address of 240 South Pineapple Avenue, Suite 701, Sarasota, FL 34236, hereby unconditionally promises to pay to ___________, a _________company having an address at ________________(“Lender”), or order, pursuant to the wiring instructions set forth on Exhibit A, or such other address as Lender may designate, in lawful money of the United States of America and in immediately available funds the principal amount of _________on March _____, 2017 (or such earlier date on which all amounts outstanding hereunder shall have become due, whether as a result of acceleration or otherwise, the “Maturity Date”), or such lesser amount as may be outstanding on such date, together with interest from and after the date herein on the unpaid principal balance from time to time outstanding hereunder payable on the same day as principal is due hereunder, at a rate
SECURITY AGREEMENTSecurity Agreement • February 6th, 2017 • xG TECHNOLOGY, INC. • Communications equipment, nec • Delaware
XG TECHNOLOGY, INC., a corporation organized under the laws of the State of Delaware having an address at 240 South Pineapple Avenue, Suite 701, Sarasota, FL 34236 (“Debtor”), hereby grants to ________, a corporation organized under the laws of ______________ having an address at ______________ (“Secured Party”), to secure the payment and performance of all obligations of Debtor to Secured Party under that certain Promissory Note dated _____________ _____, 2017 in the original stated principal amount of $_________ as may be amended, restated, replaced or otherwise supplemented or modified (the “Note”), and this Agreement, whether now existing or hereafter arising or acquired, together with all interest that accrues after the commencement of any case, proceeding or other action under any bankruptcy or other insolvency law, whether or not the payment of such interest is unenforceable or is not allowable due to the existence of such case, proceeding or other action (collectively, the “Sec
