Debt Conversion Agreement Sample Contracts

NOTEHOLDER: NOTE AMOUNT: $_____ OUTSTANDING PRINCIPAL: $______ INTEREST RATE: __% DATE OF NOTE: _____ MATURITY: _____ ACCRUED INTEREST: $____
Debt Conversion Agreement • November 13th, 2009 • Universal Detection Technology • Industrial instruments for measurement, display, and control • California
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AGREEMENT TO CONVERT DEBT
Debt Conversion Agreement • September 29th, 2003 • Onsource Corp • Games, toys & children's vehicles (no dolls & bicycles) • Colorado

THIS AGREEMENT is made and entered into this 18th day of October, 2001, by and between ONSOURCE CORPORATION, a Delaware corporation ("OnSource" or the "Company"), and MARCO FOODS, INC. (Claimant").

DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • June 2nd, 2011 • Buckingham Exploration Inc. • Metal mining • British Columbia

THIS AGREEMENT WITNESSES THAT in consideration of the premises and mutual covenants contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound hereby, agree as follows:

AGREEMENT TO CONVERT DEBT
Debt Conversion Agreement • June 28th, 2018 • Athena Silver Corp • Malt beverages • Colorado

THIS AGREEMENT is made and entered into this 15th day of May, 2018 by and between ATHENA SILVER CORPORATION, a Delaware corporation ("Athena" or the "Company"), and LEROY WILKES (Claimant").

AGREEMENT TO CONVERT DEBT
Debt Conversion Agreement • June 19th, 2009 • Golden West Brewing Company, Inc. • Malt beverages • Delaware

THIS AGREEMENT is made and entered into this 15th day of June, 2009, by and between GOLDEN WEST BREWING COMPANY, INC., a Delaware corporation ("Golden West" or the "Company"), and JOHN C. POWER (Claimant").

DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • April 26th, 2022 • Hemoglobin Oxygen Therapeutics LLC • Delaware

THIS DEBT CONVERSION AGREEMENT (this “Agreement”) is made and entered into as of January 3, 2022, by and between Hemoglobin Oxygen Therapeutics, LLC., a Delaware limited liability company (the “Company”), and the undersigned creditor of the Company (“Purchaser”).

DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • January 14th, 2021 • Moxian, Inc. • Services-computer programming, data processing, etc. • Nevada

This Debt Conversion Agreement (the “Agreement”) is entered into effective as of May 2, 2019 by and between Liu Shu Juan (“Investor”) and Moxian, Inc., a Nevada corporation(the “Company”), with reference to the following facts:

DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • October 3rd, 2022 • Leet Technology Inc. • Services-prepackaged software • Delaware

This Debt Conversion Agreement (the “Agreement”) is entered into as of September 30, 2022, by and between Leet Technology Inc, a Delaware corporation (the “Company”) and the Debt-holder on the signature page hereto (the “Debt-holder”). The Company and Debt-holder may be referred to herein individually as a “Party” or collectively as “Parties”.

DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • January 31st, 2005 • Electropure Inc • Patent owners & lessors • California

THIS DEBT CONVERSION AGREEMENT (the “Agreement”) is made and entered into effective as of the 30th day of September, 2004, by and between ANTHONY M. FRANK KEOGH PLAN UTA CHARLES SCHWAB & CO., INC. (hereinafter referred to as “Buyer”) and ELECTROPURE, INC., a California corporation (hereinafter referred to as “Electropure” or the “Company”).

DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • May 15th, 2003 • Electropure Inc • Patent owners & lessors • California

THIS DEBT CONVERSION AGREEMENT (the "Agreement") is made and entered into effective as of the 15th day of April, 2003, by and between ANTHONY M. FRANK KEOGH PLAN UTA CHARLES SCHWAB & CO., INC. (hereinafter referred to as "Buyer") and ELECTROPURE, INC., a California corporation (hereinafter referred to as "Electropure" or the "Company").

DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • June 22nd, 2010 • On4 Communications Inc. • Services-prepackaged software • British Columbia

THIS AGREEMENT WITNESSES THAT in consideration of the premises and mutual covenants contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound hereby, agree as follows:

Phoenix Aerospace, Inc. Carson City, Nevada 89706
Debt Conversion Agreement • May 14th, 2007 • Phoenix International Ventures, Inc. • Ordnance & accessories, (no vehicles/guided missiles) • Nevada

This letter agreement confirms our recent discussions during which you were informed that the Company contemplates becoming a wholly owned subsidiary of Phoenix International Ventures, Inc., a Nevada corporation, and our mutual desire that the Company’s debt to you be converted under certain conditions into common stock of Phoenix International Ventures, Inc. As a part of this transaction, Zahir Teja will continue to serve as the President and CEO of the Company and will also serve as President and CEO of Phoenix International Ventures, Inc.

DEBT CONVERSION AGREEEMENT
Debt Conversion Agreement • December 1st, 2011 • Metiscan, Inc. • Services-prepackaged software • New York

THIS DEBT CONVERSION AGREEMENT (the “Agreement”) is made and entered into as of this September 30, 2011 by and between Metiscan, Inc, a Delaware corporation, (the “Company”), Aclor Inc, a Georgia corporation which is a subsidiary of Company, and the individual or entity to which Aclor, Inc owes debts to, whose information and signature are set forth in the Exhibit A attached hereto (the “Creditor”).

DEBT CONVERSION AGREEMENT (United States Lender)
Debt Conversion Agreement • February 11th, 2019 • Petroteq Energy Inc. • Drilling oil & gas wells • Ontario

WHEREAS the Subsidiary, a wholly-owned subsidiary of the Company, is indebted to the Lender in the principal amount of US$27,250.00 plus accrued and unpaid interest pursuant to a promissory note, which for greater certainty is equal to US$28,020.42 including accrued and unpaid interest up to and including May 19, 2017, attached hereto as Schedule “A” (the “Debt”);

DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • January 6th, 2015 • Fuse Medical, Inc. • Wholesale-medical, dental & hospital equipment & supplies • Delaware

THIS DEBT CONVERSION AGREEMENT (this “Agreement”) is made and entered into as of December 31, 2014, by and between Fuse Medical, Inc., a Delaware corporation (the “Company”), and JAR Financing LLC, a Delaware limited liability company (“Lender”).

RECITALS
Debt Conversion Agreement • March 31st, 2005 • Isecuretrac Corp • Communications equipment, nec • Delaware
DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • March 17th, 2020 • Dbub Group, Inc • Retail-radio, tv & consumer electronics stores • Nevada

This Debt Conversion Agreement (the “Agreement”) is entered into effective as of March 11, 2020 by and between Zinan Zhou (the “Debtor”), and DBUB Group, Inc., a Nevada corporation (the “Corporation”), with reference to the following facts:

DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • December 30th, 2015 • Golden Properties Ltd. • Miscellaneous metal ores • Nevada

THIS DEBT CONVERSION AGREEMENT (this “Agreement”) is entered into as of November 10, 2015, by and between Abtech Holdings, Inc., a Nevada corporation (the “Company”), and Golden Properties Ltd (“Lender”).

Contract
Debt Conversion Agreement • October 15th, 2015 • Luckycom Inc • Wholesale-drugs, proprietaries & druggists' sundries • Nevada

NONE OF THE SECURITIES TO WHICH THIS PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT (THE "SUBSCRIPTION AGREEMENT") RELATES HAVE BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR TO U.S. PERSONS (AS THAT TERM IS DEFINED IN REGULATION S UNDER THE 1933 ACT) EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • April 2nd, 2013 • Vuzix Corp • Radio & tv broadcasting & communications equipment

THIS DEBT CONVERSION AGREEMENT ("AGREEMENT"), dated as of March 27, 2013, between Vuzix Corporation, a Delaware corporation (the "Company") on the one hand and Paul J. Travers, whose address is 71 Boughton Hill Road on the other hand, (the "Holder").

DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • April 12th, 2019 • British Columbia

SATIVIO HOLDINGS INC., a company incorporated pursuant to the Business Corporations Act (British Columbia) with a registered office at Suite 200 – 1238 Homer Street, Vancouver, BC V6B 2Y5

FORM Debt Conversion Agreement
Debt Conversion Agreement • December 7th, 2010 • Universal Detection Technology • Industrial instruments for measurement, display, and control • California

This Agreement (the “Agreement”) is entered into by and between Universal Detection Technology (the “Issuer”) and [NAME](the “Noteholder”) on the date first shown above. The Noteholder confirms that pursuant to the note dated _________ (the “Note”) in the principal amount of $_______ with an interest rate of __% per annum and a maturity date of _______, the Issuer owes the Noteholder a balance of $____ including principal and accrued interest as of ____.

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AGREEMENT TO CONVERT DEBT
Debt Conversion Agreement • October 4th, 2010 • Biomedical Technology Solutions Holdings Inc • Hazardous waste management • Colorado

THIS AGREEMENT is made and entered into effective the 4th day of August, 2010, by and between BIOMEDICAL TECHNOLOGY SOLUTIONS HOLDINGS, INC., a Colorado corporation ("the Company" or the "Company"), and JEFFERY MCMORRIS (Claimant").

EX-10.41 5 dex1041.htm DEBT CONVERSION AGREEMENT DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • May 5th, 2020 • Delaware

This Debt Conversion Agreement (the “Agreement”) is made as of April 5, 2010 by and between eDiets.com, Inc., a Delaware corporation (the “Company”), and Prides Capital Fund I, L.P. (the “Debt Holder”).

DEBT CONVERSION AGREEMENT (United States Service Provider)
Debt Conversion Agreement • April 20th, 2021 • Salona Global Medical Device Corp • Surgical & medical instruments & apparatus • Ontario

WHEREAS the Company is indebted to the Service Provider in the aggregate amount of US$88,000 for services rendered pursuant to an invoice dated September 2nd, 2020 (the “Debt”), attached hereto as Schedule “A”;

DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • August 30th, 2021 • Techprecision Corp • Fabricated structural metal products • Delaware

This Debt Conversion Agreement (the “Agreement”), dated as of August 25, 2021, is entered into by and among Babak Parsi (“Lender”), TechPrecision Corporation, a Delaware corporation (the “TechPrecision”), and Stadco, a California corporation (the “Company”).

DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • August 27th, 2014 • LED Lighting Co • Blank checks • California

This Debt Conversion Agreement (the “Agreement”) is entered into effective as of as of August 25, 2014 by and between George Mainas (“Investor”), and LED Lighting Company, a Delaware corporation (the “Company”), with reference to the following facts:

DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • October 24th, 2011 • TherapeuticsMD, Inc. • Pharmaceutical preparations • Nevada

This Debt Conversion Agreement made as of this 18th day of October, 2011 between THERAPEUTICSMD, INC., f/k/a AMHN, Inc., a Nevada corporation (the “Company”) and FIRST CONQUEST INVESTMENT GROUP, LLC (“Creditor”).

DEBT CONVERSION Agreement
Debt Conversion Agreement • December 13th, 2023 • Minim, Inc. • Telephone & telegraph apparatus • Delaware

This Debt Conversion Agreement (this “Agreement”) is made and entered as of December 6, 2023 by and between Slingshot Capital, LLC, a Delaware limited liability company (the “Lender”), and Minim, Inc., a Delaware corporation (“Minim”). Capitalized terms used herein but not otherwise defined herein shall have the meaning set forth in the Loan Agreement (as defined below).

DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • October 7th, 2021 • AppTech Corp. • Services-prepackaged software • California

THIS DEBT CONVERSION AGREEMENT (this “Agreement”) is dated as of 9/30/2021 (the “Effective Date”) by and between AppTech, Corp., a Wyoming corporation (“Corporation”), Robert Davis (“Creditor” or “Debt Holder”). Corporation and the Creditor are sometimes referred to collectively as the Parties.

AGREEMENT TO CONVERT DEBT
Debt Conversion Agreement • September 9th, 2010 • Vitro Diagnostics Inc • Biological products, (no disgnostic substances) • Colorado

THIS AGREEMENT is made and entered into this 8 day of September, 2010, by and between VITRO DIAGNOSTICS, INC., a Nevada corporation ("Vitro" or the "Company"), and TODD HUSS (Claimant").

FIRST AMENDED AND RESTATED DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • July 27th, 2020 • Olb Group, Inc. • Services-business services, nec • Delaware

This First Amended and Restated Debt Conversion Agreement (this “Agreement”) to the Original Debt Conversion Agreement (as defined below) is made and entered into as of July 24, 2020 (the “Effective Date”) by and between The OLB Group, Inc. (the “Company” or the “Borrower”) and John Herzog (the “Lender,” and together with the Company, the “Parties” and each, a “Party”).

Contract
Debt Conversion Agreement • May 4th, 2010 • Wishart Enterprises LTD • Periodicals: publishing or publishing & printing • Nevada

NONE OF THE SECURITIES TO WHICH THIS PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT (THE "SUBSCRIPTION AGREEMENT") RELATES HAVE BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR TO U.S. PERSONS (AS THAT TERM IS DEFINED IN REGULATION S UNDER THE 1933 ACT) EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • June 10th, 2019 • US-China Biomedical Technology, Inc. • Services-advertising agencies • Nevada

This Debt Conversion Agreement (the “Agreement”) is made and entered into this 24th day of May 2019 (the “Effective Date”) between US-China Biomedical Technology, Inc., a Nevada corporation ("Company") and China Israel Biological Technology Co. Ltd. (the “Creditor”). The Company and Creditor are sometimes referred to herein individually as the “Party” or collectively as the “Parties”.

DEBT CONVERSION AGREEMENT
Debt Conversion Agreement • February 6th, 2019 • Petro River Oil Corp. • Crude petroleum & natural gas • New York

This Debt Conversion Agreement (the “Agreement”) is entered into this 31st day of January, 2019 among Petro Exploration Funding II, LLC, a Delaware limited liability company (“Petro Funding II”) and Petro River Oil Corp., a Delaware corporation (“Petro”). Each of Petro Funding I and Petro may be referred to herein, individually, as a “Party” and, collectively, as the “Parties”.

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