Allonge to Promissory Note between InterAmerican Acquisition Group, Inc. and InterAmerican Advisors, LLC (May 15, 2007)

Contract Categories: Business Finance › Note Agreements
Summary

This agreement amends a previous promissory note dated July 6, 2006, in which InterAmerican Acquisition Group, Inc. owes $15,000 to InterAmerican Advisors, LLC. The amendment changes the repayment terms so that the principal must be repaid either by May 27, 2008, or when InterAmerican Acquisition Group, Inc. completes its initial public offering, whichever comes first. All other terms of the original note remain unchanged.

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EX-10.15 23 file23.htm ALLONGE TO PROMISSORY NOTE



Exhibit 10.15

ALLONGE TO PROMISSORY NOTE


THIS ALLONGE is made as of May 15, 2007, and shall be attached to and made a part of that certain Promissory Note dated July 6, 2006 (the “Note”) in the principal amount of $15,000 issued by InterAmerican Acquisition Group, Inc. to InterAmerican Advisors, LLC.


This Allonge is intended to amend and restate Section 1 of the Note as follows:


1.

Principal.  The principal balance of this Note shall be repayable on the earlier of (i) May 27, 2008 or (ii) the date on which the Maker consummates an initial public offering of its securities.


All of the other terms and conditions of the Note shall continue in full force and effect.


IN WITNESS WHEREOF, the undersigned has caused this Allonge to be signed by its proper corporate officer as of the day and year first written above.


INTERAMERICAN ACQUISITION GROUP, INC.




/s/ William C. Morro

By:

William C. Morro

Title:  

Chief Executive Officer




Acknowledged and agreed:

INTERAMERICAN ADVISORS, LLC


/s/ William C. Morro

By:

William C. Morro

Title:

Authorized Signatory