REVOLVING PROMISSORY NOTE AND SECURITY AGREEMENTRevolving Promissory Note and Security Agreement • March 15th, 2022 • Aspen Group, Inc. • Services-educational services • New York
Maker may draw down, at any time and from time to time during the period from and including the date of this Note through the day immediately preceding the first anniversary of that date (the “Commitment Period”), each time upon prior arrangement with and at least three (3) Business Days’ (as defined below) prior written notice to Payee, a principal amount not to exceed at any one time outstanding, as to all such drawdowns in the aggregate, ten million U.S. dollars (US$10,000,000) (Payee’s “Commitment”); provided, however, that the Commitment Period and Payee’s Commitment shall automatically, without the requirement of any demand, notice, or other act or instrument of, by or from Payee or any other person, and immediately terminate upon the occurrence of an Acceleration Event (as defined below), whereupon (i) Maker shall not be permitted to draw down any additional amounts under this Note and (ii) the aggregate principal amount then outstanding under this Note, together with all intere
FIRST AMENDMENT Dated as of January 22, 2020 to the AMENDED AND RESTATED REVOLVING PROMISSORY NOTE AND SECURITY AGREEMENT Dated as of November 5, 2018Revolving Promissory Note and Security Agreement • January 23rd, 2020 • Aspen Group, Inc. • Services-educational services • New York
This FIRST AMENDMENT TO THE AMENDED AND RESTATED REVOLVING PROMISSORY NOTE AND SECURITY AGREEMENT (this “Amendment”), dated as of January 22, 2020, is entered into by and among ASPEN GROUP, INC, as maker (the “Maker”), UNITED STATES UNIVERSITY, INC. (“USU”) and ASPEN UNIVERSITY INC. (“AUI” and, together with USU, the “Subsidiaries”), and __________________, as payee (the “Payee”).
