Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K DATED JANUARY 26, 2010 - IOTA COMMUNICATIONS, INC. | form8-k_16715.htm |
| EX-99.3 - SUBORDINATED NOTES - IOTA COMMUNICATIONS, INC. | exh99-3_16715.htm |
| EX-99.1 - FORM OF FORBEARANCE AGREEMENT - IOTA COMMUNICATIONS, INC. | exh99-1_16715.htm |
EXHIBIT
99.2
ARKADOS
GROUP, INC.
Amendment
No. 1 To 8% Subordinated Note due January 31, 2010
REFERENCE is hereby made to the 8%
Subordinated Note due January 31, 2010 (the “Original Note”) of Arkados Group,
Inc., a Delaware corporation (the “Company”) in the name of the holder whose
name appears below (the “Holder”) originally issued during the period from
August 24, 2009 to January 31, 2010.
WHEREAS, the Holder has determined that
it its best interest to modify the Original Note to extend the date of
maturity.
NOW THEREFORE, in consideration of the
agreements set forth in this agreement and those related to the original
issuance of the Original Note:
1. CERTAIN
DEFINITIONS.
(a) Except
as otherwise provided in this agreement, all words and terms defined in the
Original Note, have the same meanings in this agreement as such defined words
and terms are given in the Original Note.
(b) “Note”
means the Original Note originally issued during the period from August 24, 2009
to January 31, 2010, as previously supplemented and amended and as amended by
this agreement and as from time to time further supplemented and
amended.
(c) “Amendment”
means this agreement dated February 3, 2010.
2. EXTENSION OF DUE DATES;
WAVIER OF DEFAULT.
(a) The
Original Note is amended to replace each occurrence of the words
“January
31, 2010” with “March 31, 2010.”
(b) The
Holder waives all past defaults on the Note.
3. EFFECT OF ORIGINAL
NOTE.
Except as
supplemented and amended by this Amendment and such
conforming changes as necessary to reflect the modification herein, all of the
provisions of the Original Note shall remain in full force and effect from and
after the effective date of this Agreement.
Print Name:
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