Nature of Obligations Contract Clauses (88)

Nature of Obligations. This Note is a general unsecured obligation of the Company. Notwithstanding the foregoing, the Holder may not assign, pledge or otherwise transfer all or any part of the Note without prior written consent of the Company. In such event, no payments under this Note shall be paid to the Holder and any payment received by the Holder shall be immediately returned to the Company until such time as the Company is able to satisfy such obligations to the Lenders in full. By accepting this agreement, the ...Holder agrees to execute a subordination agreement with any Lender evidencing such subordination. If the terms and conditions of any subordination agreement with any Lender shall change, the Holder shall execute and deliver such further documents or instruments as such Lender may reasonably request in order to give effect to the provisions of such subordination agreement and the provisions of this Note. CurAegis Technologies, Inc. /s/ Kathleen A. Browne /s/ Richard A. Kaplan Chief Financial Officer Lender /s/ James Donnelly Chief Operating Officer EX-10.1 2 ex_160376.htm EXHIBIT 10.1 ex_160376.htm Exhibit 10.1 UNSECURED SUBORDINATED PROMISSORY NOTE AGREEMENT $50,000 October 16, 2019 For value received, CurAegis Technologies, Inc., a New York state corporation ("the Company"), promises to pay to RICHARD A. KAPLAN, the principal sum of Fifty Thousand Dollars ($50,000) (the "Principal Amount"). Simple interest shall accrue from the issuance date of this Note on the unpaid Principal Amount at a rate equal to six percent per annum (6%). This Note is subject to the following terms and conditions. View More

Nature of Obligations. Nothing contained herein shall create or require the Company to create a trust of any kind to fund any benefits which may be payable hereunder, and to the extent that you acquire a right to receive benefits from the Company hereunder, such right shall be no greater than the right of any unsecured general creditor of the Company.

Nature of Obligations. The Obligations under this Note and all other Bridge Notes issued by the Maker in a form substantially similar to this Note are executed and delivered in substitution for, but not in satisfaction of, the obligations under the Existing Notes (collectively, the "Precedent Obligations") and this Note shall not constitute a refinancing, substitution or novation of the Precedent Obligations.

Nature of Obligations. Nothing contained herein shall create or require the Employers to create a trust of any kind to fund any benefits which may be payable hereunder, and to the extent that the Executive acquires a right to receive benefits from the Employers hereunder, such right shall be no greater than the right of any unsecured general creditor of the Employers.