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$10,000,000) (Payee’s “Commitment”); provided, however, that the Commitment Period and Payee’s Commitment shall automatically, without the requirement of any demand, notice, or other act or instrument of, by or from Payee or any other person, and immediately terminate upon the occurrence of an Acceleration Event (as defined below), whereupon (i) Maker shall not be permitted to draw down any additional amounts under this Note and (ii) the aggregate principal amount then outstanding under this Note, together with all intere
AMENDED AND RESTATED REVOLVING PROMISSORY NOTE AND SECURITY AGREEMENTRevolving Promissory Note and Security Agreement • March 11th, 2019 • Aspen Group, Inc. • Services-educational services • New York
FOR VALUE RECEIVED, the undersigned, ASPEN GROUP, INC., a Delaware corporation having its principal place of business at 276 Fifth Avenue, Suite 505, New York, New York 10001 (“Maker”), HEREBY PROMISES TO PAY as and when due from time to time in accordance with the terms of this revolving promissory note and security agreement (this “Note”), whether at its stated Maturity (as defined below) or by acceleration or otherwise, TO THE ORDER OF THE _________________________, located at c/o ____________, _________________________________ (together with its successors and permitted assigns, “Payee”), at Payee’s address above or at such other place as may be designated from time to time in writing by Payee, in lawful money of the United States of America (“US$” and “U.S. dollars”) and in immediately available funds, IN FULL without deduction, reduction, offset or counterclaim, (i) the principal sum of FIVE MILLION U.S. DOLLARS (US$5,000,000) or such lesser principal amount as shall then be outs
Subject: March 2022 TransactionsRevolving Promissory Note and Security Agreement • March 15th, 2022 • Aspen Group, Inc. • Services-educational services • New York
This will confirm the terms on which ____________________, a ____________________ (the “_______________”), located at ______________________ (together with its successors and permitted assigns, “____________ Payee”) and ____________________, a ______________________ (“___________”), located at ________________________ (together with its successors and permitted assigned, “_______________” and, together with _____________ Payee, the “Payees”) have agreed to, as applicable, (i) amend that certain revolving promissory note and security agreement dated as of November 5, 2018, and amended and restated as of March 5, 2019, as amended on January 22, 2020 and August 31, 2021 issued by Aspen Group, Inc. (the “Company”) to the ______________ Payee (the “2018 Revolver Amendment”), (ii) enter into two new revolving promissory notes and security agreements issued by the Company to each of the Payees (the “Revolvers”), (iii) enter into two new convertible promissory notes and security agreements iss
THIRD AMENDMENT Dated as of March 14, 2022 to the AMENDED AND RESTATED REVOLVING PROMISSORY NOTE AND SECURITY AGREEMENT Dated as of November 5, 2018Revolving Promissory Note and Security Agreement • March 15th, 2022 • Aspen Group, Inc. • Services-educational services • New York
This THIRD AMENDMENT TO THE AMENDED AND RESTATED REVOLVING PROMISSORY NOTE AND SECURITY AGREEMENT (this “Amendment”), dated as of March 14, 2022, 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”).
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”).
