Amendment to Promissory Note Between OxySure Systems, Inc. and Agave Resources, LLC Dated April 15, 2008

Contract Categories: Business Finance › Modification Agreements
Summary

OxySure Systems, Inc. and Agave Resources, LLC have agreed to modify the terms of their original promissory note dated April 15, 2008, for $750,000. The amendment changes the maturity date so that the outstanding principal is now due 24 months after the issue date, which is defined as the later of the original issuance date or the date of this amendment. All other terms of the original note remain unchanged.

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EX-10.5.1 30 ex10_5-1.htm AMENDMENT TO "FIRST NOTE" EXTENDED TO AGAVE RESOURCES, LLC DATED FEBRUARY 20, 2009 Unassociated Document
 
MODIFICATION OF AGREEMENT


 
WHEREAS, OxySure Systems, Inc. ("OxySure") and Agave Resources, LLC. ("Agave") (OxySure and Agave jointly, the "Parties") entered into that certain Promissory Note ("Note") dated 4/15/08 in the principal amount of $750,000; and
 
WHEREAS, The Parties Have agreed that it is in their best interests to modify the terms of the Note.
 
NOW, WHEREFORE, FOR GOOD AND VALUABLE CONSIDERATION, THE SUFFICIENCY OF WHICH IS HEREBY ACKNOWLEDGED, THE PARTIES AGREE AS FOLLOWS:
 
Section 1 of the Note shall be amended as follows:

Maturity Date. The then outstanding Principal Amount shall become due and payable on the 24 month anniversary of the Issue Date (the "Maturity Date"). "Issue Date" means the later of the date of first issuance of this Note as set forth above or the date of signature hereof.
 
All other provisions of the Note shall remain unchanged.
 
 
Agreed to and accepted: