Amendment to $250,000 Promissory Note Between AnythingIT, Inc. and Vista Capital Investments, LLC

Contract Categories: Business Finance › Note Agreements
Summary

This amendment updates the $250,000 promissory note between AnythingIT, Inc. and Vista Capital Investments, LLC. It prohibits AnythingIT, Inc. from entering into or issuing stock related to transactions under Section 3(a)(10) of the Securities Act while the note is outstanding. If such a transaction occurs, a penalty of 25% of the note's outstanding principal (minimum $25,000) becomes immediately due. All other terms of the original note remain unchanged.

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EX-4.2 3 ex_42.htm ex_42.htm
EX.4.2
 
AMENDMENT
TO THE $250,000 PROMISSORY NOTE DATED October 10, 2014
 
The parties agree that the $250,000 Promissory Note by and between AnythingIT, Inc. and Vista Capital Investments, LLC is hereby amended to replace Section 4 “SECTION 3(A)(9) or 3(A)(10) TRANSACTION” with the following:

(4)           3(A)(10) TRANSACTION.  So long as this Note is outstanding, the Company shall not enter into any transaction or arrangement structured in accordance with, based upon, or related or pursuant to, in whole or in part, Section 3(a)(10) of the Securities Act (a “3(a)(10) Transaction”). In the event that the Company does enter into, or makes any issuance of Common Stock related to a 3(a)(10) Transaction while this note is outstanding, a liquidated damages charge of 25% of the outstanding principal balance of this Note, but not less than $25,000, will be assessed and will become immediately due and payable to the Holder at its election in the form of cash payment or addition to the balance of this Note.
 



ALL OTHER TERMS AND CONDITIONS OF THE $250,000 PROMISSORY NOTE REMAIN IN FULL FORCE AND EFFECT.

Please indicate acceptance and approval of this amendment dated October 17, 2014 by signing below:




/s/ David Bernstein__________                                                                                                /s/ David Clark_____________
David Bernstein                                                                                                David Clark
AnythingIT, Inc.                                                                                                                             Vista Capital Investments, LLC
Chief Executive Officer                                                                                                                   Principal