NOBLE ROMANS INC - FORM 10-Q - EX-10.16 - SUBORDINATION LETTER - August 11, 2016

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EX-31.1 - CERTIFICATION PURSUANT TO RULE 13A-14(A)/15D-14(A) CERTIFICATIONS SECTION 302 OF THE SARBANES-OXLY ACT OF 2002 - NOBLE ROMANS INCnrom_ex311.htm
10-Q - PRIMARY DOCUMENT - NOBLE ROMANS INCnrom_10q.htm
EX-32.2 - CERTIFICATE PURSUANT TO SECTION 18 U.S.C. PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 - NOBLE ROMANS INCnrom_ex322.htm
EX-32.1 - CERTIFICATE PURSUANT TO SECTION 18 U.S.C. PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 - NOBLE ROMANS INCnrom_ex321.htm
EX-31.2 - CERTIFICATION PURSUANT TO RULE 13A-14(A)/15D-14(A) CERTIFICATIONS SECTION 302 OF THE SARBANES-OXLY ACT OF 2002 - NOBLE ROMANS INCnrom_ex312.htm
EX-10.18 - DEBT AND LIEN SUBORDINATION AGREEMENT - NOBLE ROMANS INCnrom_ex1018.htm
EX-10.17 - BUSINESS LOAN AND SECURITY AGREEMENT - NOBLE ROMANS INCnrom_ex1017.htm
EX-10.15 - SUBORDINATION LETTER - NOBLE ROMANS INCnrom_ex1015.htm
EX-10.13 - MATERIAL CONTRACTS - NOBLE ROMANS INCnrom_ex1013.htm
EX-10.12 - PROMISSORY NOTE - NOBLE ROMANS INCnrom_ex1012000.htm
 
 

 EXHIBIT 10.16
June 8, 2016
 
A. Scott Mobley
 
Re:           NOBLE ROMAN’S, INC., an Indiana corporation
 
Dear Scott:
You have made one or more loans (the “Loans”) to the foregoing entity and/or its affiliates (the “Borrower”).
Super G Funding, LLC (“Super G”) plans to lend funds (the “Super G Financing”) to the Borrower and requires your consent on this letter below.
By your signature below, you agree:
(1)           that the Loans are subordinated to the Super G Financing. So long as the Borrower is not in default under the Super G Financing, the Borrower may make periodic interest payments (but no payments of principal) to you on the Loans. If the Borrower is in default under the Super G Financing, the Borrower may not make any payment to you on the Loans, and you cannot take any action to collect the Loans. If you do receive payments in violation of this Section (1), you must forward them to Super G.
(2)           that the Loans are not secured by any security interest in property of the Borrower. If the Loans become secured, that security interest is subordinate to the security interest the Borrower has given to Super G.
(3)           that, so long as the Super G Financing is outstanding, you will not make demand for payment on the Loans.
(4)           to extend the maturity date of the Loans to June 10, 2018.
(5)           that this letter binds you and your assigns and successors and is enforceable in a bankruptcy proceeding involving Borrower.
Please sign a copy of this letter below and return it to me. Thank you.
NOBLE ROMAN’S, INC.
 
By:_______________________
Name: Paul Mobley
Title: Executive Chairman & CFO
 
CONSENTED AND AGREED TO BY LENDER:
 
__________________________
Name: A. Scott Mobley
Address: Indianapolis, Indiana
 
 
 
 
 
 
 

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