EX-10.10
from S-1
10 pages
Whereas, the Secured Parties Have Loaned Monies to Borrower, as More Particularly Described in the Note Purchase Agreement and as Evidenced by the 2% Senior Secured Promissory Note in the Principal Amount of $287,500.00 Issued by Borrower to the Secured Party (The "Note"); Whereas, the Term "Secured Party" as Used in This Agreement Shall Mean, Collectively, All Holders of the Note, Including Those Persons Who Become Holders of Note Subsequent to the Date Hereof; and Whereas, This Agreement Is Being Executed and Delivered by Borrower to Secure the Note. Now, Therefore, for Good and Valuable Consideration, the Receipt and Sufficiency of Which Are Hereby Acknowledged, Each of the Parties Hereto Hereby Agrees as Follows: 1. Obligations Secured. This Agreement Secures, in Part, the Prompt Payment and Performance of All Obligations of Borrower Under the Note, and All Renewals, Extensions, Modifications, Amendments, and/or Supplements Thereto (Collectively, the "Secured Obligations"). 2. Grant of Security
12/34/56
EX-10.10
from DRS
10 pages
Whereas, the Secured Parties Have Loaned Monies to Borrower, as More Particularly Described in the Note Purchase Agreement and as Evidenced by the 2% Senior Secured Promissory Note in the Principal Amount of $287,500.00 Issued by Borrower to the Secured Party (The "Note"); Whereas, the Term "Secured Party" as Used in This Agreement Shall Mean, Collectively, All Holders of the Note, Including Those Persons Who Become Holders of Note Subsequent to the Date Hereof; and Whereas, This Agreement Is Being Executed and Delivered by Borrower to Secure the Note. Now, Therefore, for Good and Valuable Consideration, the Receipt and Sufficiency of Which Are Hereby Acknowledged, Each of the Parties Hereto Hereby Agrees as Follows: 1. Obligations Secured. This Agreement Secures, in Part, the Prompt Payment and Performance of All Obligations of Borrower Under the Note, and All Renewals, Extensions, Modifications, Amendments, and/or Supplements Thereto (Collectively, the "Secured Obligations"). 2. Grant of Security
12/34/56
