Amendment to Convertible Notes Agreement Between iHookup Social, Inc. and Coventry Enterprises, LLC

Contract Categories: Business Finance › Note Agreements
Summary

iHookup Social, Inc. and Coventry Enterprises, LLC have agreed to amend their existing convertible notes. Effective July 9, 2015, iHookup Social, Inc. can no longer redeem or prepay any of the convertible notes issued to Coventry Enterprises, LLC before maturity. All previous redemption or prepayment rights are now terminated and void. This agreement ensures that Coventry Enterprises, LLC retains the full term of the notes without early repayment by iHookup Social, Inc.

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EX-10.1 2 exhibit_10-1.htm AMENDMENT TO CONVERTIBLE NOTES WITH COVENTRY ENTERPRISES, LLC exhibit_10-1.htm
EXHIBIT 10.1
 
 
 
SIDE LETTER AGREEMENT BETWEEN CONVENTRY ENTERPRISES, LLC AND IHOOKUP SOCIAL, INC.

This side letter agreement is entered into on July 9, 2015

Whereas, the parties have entered into a series of convertible note; and

Whereas, certain of those note have prepayment provisions which allow the Company to prepay those notes prior to maturity; and

Whereas, the parties desire to eliminate those prepayment provisions

NOW THEREFORE THE PARTIES AGREE AS FOLLOWS:

1.           None of the convertible notes issued from iHookup Social, Inc to Coventry Enterprises, LLC shall be redeemable at the options of iHookup Social, Inc.  Any redemption features are hereby terminated and are null and void.
 
IHOOKUP SOCIAL, INC.     COVENTRY ENTERPRISES, LLC
         
By:
/s/ Robert Rositano
   By:
 
 
 
    
 
Robert Rositano, CEO     Title: