Amendment to Secured Convertible Promissory Notes between DayStar Technologies, Inc. and Note Holders

Contract Categories: Business Finance Note Agreements
Summary

DayStar Technologies, Inc. and the holders of certain secured convertible promissory notes have agreed to extend the maturity date of these notes to July 22, 2011. All other terms of the original notes remain unchanged. This amendment is governed by Delaware law and is effective as of April 26, 2011.

EX-10.6 7 dex106.htm AMENDMENT OF NOTES Amendment of Notes

Exhibit 10.6

AMENDMENT TO NOTES

This AMENDMENT TO SECURED CONVERTIBLE PROMISSORY NOTES, (this “Amendment”) is made as of April 26, 2011, by and between DayStar Technologies, Inc. (the “Company”), and the holders of the notes listed on Exhibit A hereto (the “Holders”).

WHEREAS, the Company and the Holders are parties to the Secured Convertible Promissory Notes listed on Exhibit A hereto (as amended to date, the “Notes”);

WHEREAS, the Company and the Holders desire to amend the Notes to provide that the maturity date shall be extended to July 22, 2011;

WHEREAS, the Holders and the Company view the extension of the maturity date to be in their mutual best interest; and

WHEREAS, the Notes provides that any terms can be amended with the prior written consent of the Company and the Holder.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

1. The “Maturity Date” of each of the Notes is hereby amended to be July 22, 2011.

2. The remaining provisions of the Notes shall continue in full force and effect and are not otherwise affected by this Amendment.

3. This Amendment shall be governed by and construed in accordance with the laws of the State of Delaware, as such laws are applied to contracts to be entered into and performed entirely in the State of Delaware by Delaware residents. This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all of which together shall constitute one and the same agreement. This Amendment may be executed by facsimile signature.


IN WITNESS WHEREOF, the parties have executed this Amendment on the date first above written.

 

DayStar Technologies, Inc.
By:  

 

Name:
Title:
William Steckel

 

Investor Company

in trust for Peter Lacey

By:  

 

Title:


Richard Schottenfeld

 

Michael Moretti

 

John Gorman

By:  

 

Title: