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chemist72

07/25/18 11:57 AM

#41020 RE: penknee #41017

Another interesting tidbit on "Ownership Limitation"

From the Convertible Promissory Note:

By written notice to Borrower, Lender may increase, decrease or waive the Maximum Percentage as to itself but any such waiver will not be effective until the 61st day after delivery thereof. The foregoing 61-day notice requirement is enforceable, unconditional and non-waivable and shall apply to all affiliates and assigns of Lender.