SUBORDINATION AGREEMENTSubordination Agreement • June 14th, 2005 • Global Epoint Inc • Refrigeration & service industry machinery • California
THIS SUBORDINATION AGREEMENT (this “Agreement”) is entered into as of June 7, 2005, by and among GLOBAL EPOINT, INC., a Nevada corporation (“Junior Creditor”), ASTROPHYSICS, INC., a California corporation (the “Company”), and JOHN PAN, an individual resident of the state of California (“Senior Creditor”). All capitalized terms not defined herein shall have the meanings ascribed to such terms in the Senior Security Agreement described below.
ContractSubordination Agreement • June 14th, 2005 • Global Epoint Inc • Refrigeration & service industry machinery • California
THIS NOTE AND THE INDEBTEDNESS EVIDENCED HEREBY ARE SUBORDINATE IN THE MANNER AND TO THE EXTENT SET FORTH IN THAT CERTAIN SUBORDINATION AGREEMENT (THE “SUBORDINATION AGREEMENT”) DATED AS OF JUNE 7, 2005 AMONG GLOBAL EPOINT, INC., ASTROPHYSICS, INC. AND JOHN PAN TO THE SENIOR DEBT (AS DEFINED IN THE SUBORDINATION AGREEMENT); AND EACH HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF, SHALL BE BOUND BY THE PROVISIONS OF THE SUBORDINATION AGREEMENT.
