Amendment No. 2 to the Senior Secured Convertible Promissory Note original due date February 13, 2008

Contract Categories: Business Finance - Note Agreements
EX-10.53 2 ex10-53.htm AMENDMENT RE NOTES DUE 021308

Amendment No. 2

to the Senior Secured Convertible Promissory Note

original due date February 13, 2008

 

This Amendment No. 2 (“Amendment”) is hereby made between FinancialContent Services, Inc. (“Maker”), and Jade Special Strategy, LLC (“Holder”) (hereinafter Maker and Holder each a “Party” and collectively “Parties”).

 

WHEREAS, FC was unable to pay the Senior Secured Convertible Promissory Note ( the “Note”) in full by December 31, 2007;

 

NOW THEREFORE, in consideration of the mutual covenants and agreements contained herein, the Parties agree to modify the terms and conditions of the Note as follows:

 

 

1)

Maker agrees to increase the principal of the Note by $75,000;

 

2)

Maker agrees to a one-time penalty of less than $50,000 to be determined no later than February 29, 2008.

 

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their duly authorized representatives as of the date indicated below.

 

FinancialContent, Inc.

Jade Special Strategy, LLC

 

By:

/s/_________________

By:

/s/___________________

 

Name: Wing Yu

Name: David Propis

 

Title: Chief Executive Officer

Title: Manager

 

Date: December 31, 2007

Date: December 31, 2007