Suite810-N, 2000 Avenue of the Stars, Los Angeles, CA 90067
December 28, 2015
Mr Adam Levin
VC2 Partners, LLC
10951 Pico Boulevard
Suite 102
Los Angeles, CA 90064
Dear Mr Levin
NOTICE OF DEFAULT -- Mimio, LLC
It is with extreme disappointment and regret that, once again, we find it necessary to re-visit your failure to abide by the terms of the Membership Interest Purchase Agreement entered into between us on September 28, 2015 (the “Agreement”), as amended. You will recall that, due to previous failures, it was necessary to amend the Agreement on three separate occasions to provide you with further accommodations and opportunities to meet your payment obligations. The latest amendment, Amendment No 3, obligated you to make a final payment of the balance of the Note, plus accrued interest, on or before December 15, 2016. You failed to do so.
Your default, without explanation or excuse, has caused, and will continue to cause, Skyview considerable loss and damage, all of which we will recover from you in full. To mitigate our losses, we hereby demand that you immediately make payment of the sums due under the Note (i.e. $1,460,507.50, plus accrued interest). If payment is not received in our account by 5 pm (Pacific time) on December 30, 2016, we will begin to exercise our rights against the securities and guarantees available to us. Accordingly, we reserve all of our rights.
Yours sincerely,
SKYVIEW CAPITAL, LLC
James F Hall | |
Executive Vice President and General Counsel |
cc: | Stephen A. Weiss, Esq. | Michael Pope, Esq. |
CKR Law, LLP | Vert Capital, LLC | |
35th Floor | VC2 partners, LLC | |
1330 Avenue of the Americas | ||
New York, NY 10019 | ||
Adam Colley, Esq. | Mark Elliott, Esq. | |
Crestmark Bank, | Boxlight Corporatoin | |
5480 Corporate Drive | ||
Suite 350 | ||
Troy, Michigan 48098 |
Suite 810-N, 2000 Avenue of the Stars, Los Angeles, CA 90067