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

Contract Categories: Business Finance › Note Agreements
Summary

This agreement amends a promissory note originally issued by InterAmerican Acquisition Group, Inc. to InterAmerican Advisors, LLC for $6,500. The amendment changes the repayment terms, requiring the principal to be repaid either by May 27, 2008, or when the company completes its initial public offering, whichever comes first. All other terms of the original note remain unchanged. Both parties have agreed to these new terms as of May 15, 2007.

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EX-10.19 25 file25.htm ALLONGE TO PROMISSORY NOTE




Exhibit 10.19

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 March 1, 2007 (the “Note”) in the principal amount of $6,500 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