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Document Preview Convertible Promissory Note |
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Title: |
Convertible Promissory Note |
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Date: |
2001 |
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Preview shows 3KB of 19KB total |
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Price: |
$34 |
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ID: |
#368511 |
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THIS NOTE AND ANY SECURITIES TO BE ISSUED UPON THE CONVERSION HEREOF HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR
UNDER THE SECURITIES LAWS OF ANY STATE OR JURISDICTION AND MAY NOT BE SOLD,
OFFERED FOR SALE OR OTHERWISE TRANSFERRED UNLESS REGISTERED OR QUALIFIED UNDER
SAID ACT AND APPLICABLE STATE SECURITIES LAWS OR UNLESS THE COMPANY RECEIVES AN
OPINION, IN REASONABLY ACCEPTABLE FORM AND SCOPE, OF COUNSEL REASONABLY
SATISFACTORY TO THE COMPANY THAT REGISTRATION, QUALIFICATION OR OTHER SUCH
ACTIONS ARE NOT REQUIRED UNDER ANY SUCH LAWS. ANY SECURITIES ISSUED UPON THE
CONVERSION HEREOF MAY BEAR A COMPARABLE LEGEND.
AIM AIRCRAFT, INC.
CONVERTIBLE PROMISSORY NOTE
$5,000,000 September 30, 2001
FOR VALUE RECEIVED, and in consideration for the full and prompt
performance of the Holders' (as defined herein) obligations under the agreements
listed in SCHEDULE A attached hereto (the "Lease Agreements"), and except as
such performance may have been extinguished pursuant to the terms of the Lease
Agreements or that certain Purchase Agreement (as defined below), AIM Aircraft,
Inc., (the "COMPANY"), a Colorado corporation with its principal office at 7211
South Peoria Street, Suite 200, Englewood, Colorado 80112 promises to pay to the
order of Air Response Medical Transport Corp., a Delaware corporation ("ARMT"),
Global Air Rescue, Inc., a Delaware corporation and Air Response North, Inc., a
Florida corporation (the "HOLDERS"), the principal sum of FIVE MILLION DOLLARS
($5,000,000.00), together with interest on the unpaid balance of principal
hereof accruing from September 30, 2001, at the rate of 6% per year, simple
interest. All interest due under this Note shall be calculated at a daily rate
equal to 1/365th of such annual rate. All payments of principal and interest
shall be made in lawful money of the United States of America at the following
address: Air Response North, Inc., 7211 South Peoria, Suite 200, Englewood,
Colorado, 80112, or such other address as the Holders shall indicate to the
Company in writing. Each of the Holders agrees that ARMT shall act as the
Representative for each of the Holders, with full authority to act hereunder on
behalf of each of the Holders, thereby binding each of the Holders to such
action.
This Note is non-negotiable but may be transferred to CyberCare, Inc., a
Florida corporation, located at 2500 Quantum Lakes Drive, Suite 1000, Boynton
Beach, Florida, 33426 ("CC") and is issued by the Company in connection with the
Purchase Agreement (the "PURCHASE AGREEMENT") dated effective September 30, 2001
among the Company, the Holders, CC and Global Air Charter, Inc., a Florida
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