EX-4.7
from 10-Q
2 pages
If the Dsit Closing Date Shall Not Have Occurred by September 1, 2016, This Note and All Interest Accrued Thereunder Shall Be Payable on September 1, 2016. the Obligation to Pay the Principal of and Any Interest Accrued on This Note Shall Be Parri Passu With the Indebtedness of Acorn Under the Loan and Security Agreement With Leap Tide Capital Partners III, LLC. the Note as Originally Executed and Delivered to You Remains in Full Force and Effect, as Modified Pursuant Hereto. Very Truly Yours, Jan H Loeb President and CEO
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EX-10.15
from 10-Q
3 pages
(A) Pursuant to Section 11(d) of the Seventh Amendment to Loan and Security Agreement Dated April 23, 2015 (The “Seventh Amendment”), a Condition to the Effectiveness of the Seventh Amendment Was (I) Receipt by Bank of a Pledge and Security Agreement, Duly Executed by the Guarantor (The “Pledge Agreement Condition”), and (II) the Opening and Funding by Guarantor of a Segregated Deposit Account (The “Account”) With at Least $500,000 (The “Cash Collateral Funding Condition”). (B) Bank Has Waived the Cash Collateral Funding Condition, on the Conditions That (I) the Guarantor Agrees That (1) on or Before May 4, 2015 (The “First Post-Closing Funding Deadline”) the Guarantor Shall Have Funded the Account With at Least $250,000 (The “First Post-Closing Funding Condition”), and (2) on or Before May 14, 2015 (The “Second Post-Closing Funding Deadline”) the Guarantor Shall Have Funded the Account With an Additional $250,000 (So That, for the Sake of Clarity, the Account Shall, on and After May 14, 2015, Be Funded With at Least $500,000) (The “Second Post-Closing Funding Condition”). (C) Bank, Borrower, and the Guarantor Hereby Acknowledge and Agree That (I) the Failure of the Guarantor to Satisfy the First Post-Closing Funding Condition by the First Post-Closing Funding Deadline Shall Constitute an Event of Default Under the Agreement and the Guaranty, and (II) the Failure of the Guarantor to Satisfy the Second Post-Closing Funding Condition by the Second Post-Closing Funding Deadline Shall Constitute an Event of Default Under the Agreement and the Guaranty, and (II) in the Event of Such an Event of Default Under the Agreement and the Guaranty, Bank Shall Be Entitled to Exercise All of Its Rights and Remedies in Accordance With the Terms and Conditions of the Agreement, the Guaranty, and Any Other Documents Entered Into in Connection Therewith
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