Amendment No. 1 to $6.2 Million Credit Agreement between Stanford Capital Holdings, Inc. and American Leisure Holdings, Inc. et al.
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Summary
This amendment, dated December 18, 2006, modifies the original $6.2 million Credit Agreement from November 22, 2006, between Stanford Capital Holdings, Inc. as Lender and American Leisure Holdings, Inc. and several related entities as Borrowers. The amendment increases the referenced amount in Section 2.3 of the agreement from $4.3 million to $5.42 million. All other terms of the original agreement remain unchanged and in effect.
EX-10.10 11 ex10-10.txt AMENDMENT NO. 1 TO $6.2 MILLION CREDIT AGREEMENT Exhibit 10.10 AMENDMENT NO. 1 TO $6.2 MILLION CREDIT AGREEMENT THIS AMENDMENT is dated as of December 18, 2006, and relates to the $6,200,000 Credit Agreement dated as of November 22, 2006, among STANFORD CAPITAL HOLDINGS, INC., a Delaware corporation, as Lender and AMERICAN LEISURE HOLDINGS, INC., a Nevada corporation ("ALHI"), TIERRA DEL SOL RESORT (PHASE 2), LTD., a Florida limited partnership, COSTA BLANCA II REAL ESTATE, LLC, a Florida limited liability company, COSTA BLANCA III REAL ESTATE, LLC, a Florida limited liability company, TDS TOWN HOMES (PHASE 2) LLC, a Florida limited liability company, and TDS CLUBHOUSE, INC., a Florida corporation, as Borrowers (the "Agreement"). 1. Terms defined in the Credit Agreement are used herein as defined therein. 2. Section 2.3 of the Agreement is hereby amended to replace $4.3 million with $5.42 million. 3. Except as expressly amended herein, all terms and provisions of the Agreement shall remain in full force and effect. "BORROWERS" AMERICAN LEISURE HOLDINGS, INC., By:/s/ Malcolm J. Wright ------------------------------------- Its: Chief Executive Officer ------------------------------------- Address: 2460 Sand Lake Road, Orlando, FL 32809 -------------------------------------- TIERRA DEL SOL RESORT (PHASE 2), LTD By: /s/ Malcolm J. Wright ------------------------------------- Its: Manager of its General Partner ------------------------------------- Address:2460 Sand Lake Road, Orlando, FL 32809 ------------------------------------- COSTA BLANCA II REAL ESTATE, LLC By: /s/ Malcolm J. Wright ------------------------------------- Its: Manager ------------------------------------- Address: 2460 Sand Lake Road, Orlando, FL 32809 --------------------------------------- COSTA BLANCA III REAL ESTATE, LLC By: /s/ Malcolm J. Wright ------------------------------------- Its: Manager ------------------------------------- Address: 2460 Sand Lake Road, Orlando, FL 32809 --------------------------------------- TDS TOWN HOMES (PHASE 2), LLC By: /s/ Malcolm J. Wright ------------------------------------- Its: Manager ------------------------------------- Address: 2460 Sand Lake Road, Orlando, FL 32809 ---------------------------------------- TDS CLUBHOUSE, INC. By: /s/ Malcolm J. Wright ------------------------------------- Its: President ------------------------------------- Address: 2460 Sand Lake Road, Orlando, FL 32809 --------------------------------------- "LENDER" STANFORD VENTURE CAPITAL HOLDINGS, INC. By: ------------------------------------- Its: ------------------------------------- Address: -------------------------------------
