First Amendment to Amended and Restated Promissory Note between Commodore Resources (Nevada), Inc. and LDN Stuyvie Partnership
This agreement is an amendment to a previous promissory note between Commodore Resources (Nevada), Inc. and LDN Stuyvie Partnership. The amendment, effective February 12, 2008, modifies Section 2 of the original note by deleting subsection (b) and re-lettering subsection (c) as (b). All other terms of the original note remain unchanged. The amendment is part of broader efforts by Lyris, Inc., the parent company of Commodore Resources, to increase its liquidity.
Exhibit 10.1
FIRST AMENDMENT
TO
AMENDED AND RESTATED PROMISSORY NOTE
THIS FIRST AMENDMENT (the First Amendment) to the Amended and Restated Promissory Note dated as of March 31, 2007 (the Note), is entered into as of the close of business on February 12, 2008, by and between Commodore Resources (Nevada), Inc. (Maker) and LDN Stuyvie Partnership (Payee).
RECITALS:
WHEREAS, Payee, with the consent of Maker and Makers parent company, Lyris, Inc. (Lyris), acquired the Note on January 23, 2008, from The John Buckman and Jan Hanford Trust; and
WHEREAS, Payee and Maker, in connection with broader efforts by Lyris to increase its liquidity, desire to amend the Note as set forth below in this First Amendment.
AMENDMENT:
NOW, THEREFORE, in consideration of the foregoing and the agreements herein contained, the parties hereto covenant and agree as follows:
1. Section 2 of the Note is hereby amended by deleting the current subsection (b) thereof in it entirety and re-lettering subsection (c) as subsection (b)
2. Except as herein specifically amended by this First Amendment, the Note shall continue in full force and effect in accordance with its terms.
[SIGNATURE PAGE FOLLOWS]
IN WITNESS WHEREOF, the parties hereto have duly executed this First Amendment effective as of the date first written above.
COMMODORE RESOURCES (NEVADA), INC. | ||
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By: | /s/ Richard A. McDonald |
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Name: Richard A. McDonald |
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Its: President |
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LDN STUYVIE PARTNERSHIP |
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By: | /s/ William T. Comfort, III |
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Name: William T. Comfort, III |
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Its: General Partner |
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