Document:

EXHIBIT 10.1 PROMISSORY NOTE

  
 NON-CONVERTIBLE PROMISSORY NOTE
  
 $20,000                                                                                                                                                            December 5, 2013
  
 FOR VALUE RECEIVED, American Cordillera Mining Corporation, Inc. (formally APD Antiquities, Inc.), a Nevada Corporation, ("Borrower"), promises to pay to the order of Manuel Graiwer (the "Holder"), the sum of Twenty Thousand Dollars ($20,000) in legal and lawful money of the United States of America, together with interest from the date hereof on the principal amount from time to time remaining unpaid as provided below, pursuant to the terms and condition below.  Payment for all amounts due hereunder shall be made at the principal office of Holder at 3600 Wilshire Boulevard, Suite 2100, Los Angeles, CA 90010 or such other address as the Holder may hereafter direct in writing.  The following is a statement of the rights of the Holder of this Promissory Note and the conditions to which this Note is subject, and to which the Holder hereof, by the acceptance of this Note agree:
 

  1.
 Interest/Debt Service.  This Note shall bear simple interest at the rate of 6% per annum on the unpaid principal balance of this Note from the date of this Note until the first anniversary date hereof (the "Maturity Date"), which will be January 4, 2014.
 Except as otherwise provided herein, the principal amount of this Note shall be due and payable on the Maturity Date.  All past due principal and interest shall bear simple interest from maturity until paid at the rate of 6% per annum.  Payments hereunder shall be applied first to the accrued and unpaid interest and then to the unpaid principal balance of this Note.  The Maturity date will be January 4, 2014.
   2.
 Terms and Conditions.  This loan is not convertible. The holder is making a loan in the amount of Twenty Thousand ($20,000) Dollars and will not have the right to convert this loan or any portion thereof, and its related interest, to restricted shares of common stock of American Cordillera Mining Corporation. 
 3.
 Events of Default.  In the event of default when the principal balance is not paid before or on the due date (herein individually referred to as an "Event of Default"), the Holder of this Note may, at the Holder’s option, in addition to any other rights the Holder may have in equity or at law, declare this Note mature, and all sums owing hereon and under any instrument or agreement executed in connection with this Note shall be due and payable immediately without presentment, protest, demand, notice of intention to accelerate, notice of acceleration, notice of non-payment, notice of protest, or other notice of any kind, all of which are hereby expressly waived by Borrower:
 (i)
 The institution by Borrower of proceedings to be adjudicated as bankrupt or insolvent, or the consent by it to institution of bankruptcy or insolvency proceedings against it or the filing by it of a petition or answer or consent seeking reorganization or release under the federal Bankruptcy Act, or any other applicable federal or state law, or the consent by it to the filing of any such petition or the appointment of a receiver, liquidator, assignee, trustee or other similar official of Borrower, or of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the taking of corporate action by Borrower in furtherance of any such action; or
 (ii)
 If, within thirty-one (31) days after the commencement of an action against Borrower (and service of process in connection therewith on Borrower) seeking any bankruptcy, insolvency, reorganization, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such action shall not have been resolved in favor of Borrower or all orders or proceedings thereunder affecting the operations or the business of Borrower stayed, or if the stay of any such order or proceeding shall thereafter be set aside, or if, within thirty (30) days after the appointment without the consent or acquiescence of Borrower of any trustee, receiver or liquidator of Borrower or of all or any substantial part of the properties of Borrower, such appointment shall not have been vacated; or
 

 
 
 4.
 Waivers.  Unless otherwise specifically set forth in this Note, Borrower waives (i) all  notices, demands and presentments for payments, (ii) all notices of non-payment, default, intention to accelerate maturity, acceleration of maturity, protest and dishonor, and (iii) diligence in taking any action to collect amounts hereunder and in the handling of any collateral securing this Note.
 5.
 Prepayment.  Borrower shall have the right to prepay some or all of the outstanding principal and interest due on this Note at any time prior to the Maturity Date.  In the event that Borrower prepays principal prior to the due date hereof, Borrower shall not be required to pay any interest in connection with such prepayment.  In the event that Borrower prepays the principal after the first anniversary date hereof but prior to the Maturity Date, Borrower shall be required to pay interest only through the first anniversary date hereof, but shall not be required to pay any further interest.  
 6.
 Assignment.  This Note shall be binding upon Borrower and its successors, assigns, heirs and representatives, and shall inure to the benefit of the Holder and its successors and assigns.
 7.
 Waiver and Amendment.  Any provision of this Note may be amended, waived or modified upon the written consent of Borrower and the Holder of this Note.  Borrower hereby waives any and all defenses it may have to the enforcement by the Holder of this Note.
 8.
 Transfer of this Note or Securities Issuable on Conversion Hereof.  This Note may be sold, transferred, assigned or otherwise disposed of by the Holder.  With respect to any proposed sale, transfer, assignment or other disposition of this Note or securities into which such Note may be converted, the Holder will give written notice to Borrower prior thereto, describing briefly the manner thereof, together with a written opinion of the Holder’s counsel, if Borrower should require, to the effect that such offer, sale or other distribution may be effected without registration or qualification (under any federal or state law then in effect).
 It is the intention of the parties that this Note shall be a negotiable instrument.  Any provision of this Note which precludes this Note from being a negotiable instrument shall be deemed waived.
 Each Note thus transferred and each certificate representing the Notes thus transferred shall bear a legend as to the applicable restrictions on transferability in order to ensure compliance with the Act, unless in the opinion of counsel for American Cordillera Mining Corporation, such legend is not required in order to ensure compliance with the Act.
 9.
 Notices.  Any notice, request or other communication required or permitted hereunder shall be in writing and shall be deemed to have been duly given if personally delivered or if mailed by registered or certified mail, postage prepaid, at the respective addresses of the parties as set forth below:
 If to the Borrower:
 American Cordillera Mining Corporation
 1314 South Grand Boulevard, Suite 2-176
 Spokane, WA 99202-1174
 

 If to the Holder:
 

 Manuel Graiwer
 3600 Wilshire Boulevard, Suite 2100
 Los Angeles, CA 90010
 

 Any party hereto may by notice so given change its address for future notice hereunder.  Notice shall conclusively be deemed to have been given when personally delivered or when deposited in the mail or fax in the manner set forth above and shall be deemed to have been received when delivered.
 

 

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 10.
 No Stockholder Rights.  Nothing contained in this Note shall be construed as conferring upon the Holder or any other person the right to vote or to consent or to receive notice as a stockholder in respect of meetings of stockholders for the election of directors of American Cordillera Mining Corporation or any other matters or any rights whatsoever as a stockholder of American Cordillera Mining Corporation, and no dividends shall be payable or accrued in respect of this Note or the interest represented hereby or the Conversion Shares obtainable hereunder until, and only to the extent that, this Note shall have been converted.
 11.
 Failure or Indulgency Not Waiver.  No failure or delay on the part of the Holder hereof in the exercise of any power, right, or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right of privilege preclude other or further exercise thereof or of any other right, power or privilege.  All rights and remedies existing hereunder are cumulative to, and not exclusive of, any rights or remedies otherwise available.
 12.
 Attorneys’ Fees.  If (i) this Note is not paid at maturity, howsoever such maturity may be brought about, and the same is placed in the hands of an attorney for collection, and/or if this Note is collected by suit or through bankruptcy, probate, or other legal proceedings, and/or (ii) Borrower in any other way breaches any obligation(s) hereunder, Borrower agrees to pay all attorneys’ fees and other costs incurred by the Holder in connection therewith.
 13.
 Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada, excluding that body of law relating to conflict of laws.
 14.
 Usury Laws.  This Note shall at all times be in strict compliance with applicable usury laws.  If at any time any interest contracted for, charged or received under this Note or otherwise in connection with this Note would be usurious under applicable law, then regardless of the provisions of this Note or any action or event (including, without limitation, prepayment of principal hereunder  or acceleration of maturity) which may occur with respect to this Note, it is agreed that all sums that would otherwise be usurious shall be immediately credited as a payment of principal hereunder, or if this Note has already been paid, immediately refunded to Borrower.  All compensation which constitutes interest under applicable law in connection with this Note shall be amortized, prorated, allocated and spread over the full period of time any indebtedness that is owing under this Note, to the greatest extent permissible without exceeding the maximum rate of interest allowed by applicable law from time to time during such period.
 15.
 Headings; References.  All headings used herein are used for convenience only and shall not be used to construe or interpret this Note.  Except where otherwise indicated, all references herein to Sections refer to Sections hereof.
 16.
 Arbitration.  Any controversy or claim related to or arising out of this transaction shall be settled by arbitration, conducted on a confidential basis, under the U.S. Arbitration Act, if applicable, or the Uniform Arbitration Act as adopted in Nevada, and the then current Commercial Arbitration Rules of the American Arbitration Association ("Association") strictly in accordance with the terms of this Agreement and the substantive law of Nevada. 
 The arbitration shall be conducted at the Association’s regional office in Las Vegas, Nevada by three arbitrators.  Judgment upon the arbitrators’ award may be entered and enforced in any court of competent jurisdiction.  
 Neither party shall institute a proceeding hereunder unless at least fifteen days prior thereto such party shall have furnished to the other written notice by registered mail of its intent to do so.  Neither party shall be precluded hereby from seeking provisional remedies in the courts of any jurisdiction including, but not limited to, temporary restraining orders and preliminary injunctions, to protect its rights and interests, but such shall not be sought as a means to avoid or stay arbitration.
 

 

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 Borrower – American Cordillera Mining Corporation

 

 

 By: /s/  Frank Blair
 Frank Blair, President
 American Cordillera Mining Corporation
 

 
 
 

 

 Paid in Full:______________
  
 By:____________________
 

 Name:__________________
 

 Title:___________________
 

 Interest paid:_____________
 

 4piei_ex101.htm

EXHIBIT 10.1

 

PREMIER BIOMEDICAL, INC.

DIRECTORS BRIDGE LOAN AGREEMENT

PROMISSORY NOTE

 

	$50,000.00	November 18, 2013 
(the “Issue Date”)

El Paso, TX

 

For value received, Premier Biomedical, Inc., a Nevada corporation (the “Company”), hereby promises to pay to ____________, an individual, or his assigns (the “Holder”) the principal sum of Fifty Thousand Dollars ($50,000.00) (the “Principal Amount”), plus the prepayment premium identified in Section 3 hereof (the “Prepayment Premium” and, together with the Principal Amount, the “Total Note Repayment Amount”). The Total Note Repayment Amount shall be due and payable on or before 5:00 p.m., Eastern Standard Time, on the earlier of (a) the date which is nine (9) months from the date hereof, or (b) three (3) business days following the receipt by the Company of funding (net of offering expenses, including finders fees, commissions, legal and other fees, and discounts) from any source, of at least One Million Dollars ($1,000,000) (the “Maturity Date”) (unless such payment date is accelerated as provided in Section 4 hereof). Payment of all amounts due hereunder shall be made to the Holder per the instructions in Section 5 hereof. Interest shall accrue on the outstanding Principal Amount on an annual basis at a rate of Eight Percent (8.0%).

1. HISTORY OF THE NOTE. This Promissory Note is part of a series of promissory notes issued to members of the Company’s Board of Directors.

2. PAYMENT OF THE NOTE. The Total Note Repayment Amount of this Note and all accrued interest on the Principal Amount shall be paid by the Company on or before the Maturity Date.

If any payment of the Principal Amount, Prepayment Premium, Total Note Repayment Amount, or interest under this Note shall not be made within ten (10) business days when due, a late charge of ten percent (10%) of the outstanding payment amount may be charged by Holder for the purpose of defraying the expenses incident to handling such delinquent payments. Such late charge represents a reasonable sum considering all of the circumstances existing on the date of this Note and represents a fair and reasonable estimate of the costs that will be sustained by Holder due to the failure of Company to make timely payments.

 

  

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3. PREPAYMENT PREMIUM. Notwithstanding anything to the contrary contained in this Note, at any time during the period beginning on the Issue Date and ending on the Maturity Date, the Company shall have the right, exercisable on not less than three (3) business days prior written notice to the Holder of the Note, to prepay the outstanding Note (principal and accrued interest), in full, in accordance with this Section 3. Any notice of prepayment hereunder (an “Optional Prepayment Notice”) shall be delivered to the Holder of the Note at its registered address and shall state: (1) that the Company is exercising its right to prepay the Note, and (2) the date of prepayment which shall be not less than three (3) business days from the date of the Optional Prepayment Notice. On the date fixed for prepayment (the “Optional Prepayment Date”), the Company shall make payment of the Total Note Repayment Amount, plus accrued and unpaid interest on the Principal Amount, to or upon the order of the Holder as specified by the Holder in writing to the Company at least one (1) business day prior to the Optional Prepayment Date. For purposes of calculating the Total Note Repayment Amount, the Prepayment Premium shall be determined by multiplying the then-outstanding principal amount of this Note by the Prepayment Premium based on the following schedule:

	
No. of Days After Issue Date:

	 	
Prepayment Premium:

	 
	
0-30 days

	 	 	115	%
	
31-60 days

	 	 	120	%
	
61-90 days

	 	 	125	%
	
91-120 days

	 	 	130	%
	
121 days or more

	 	 	135	%

In the event the Note is not prepaid prior to the Maturity Date, the Prepayment Premium of 135% shall apply.

4. DEFAULT. The occurrence of any one of the following events shall constitute an Event of Default:

(a) The non-payment, when due, of any amount pursuant to this Note;

 

(b) The material breach of any representation or warranty in this Note;

 

(c) The breach of any covenant or undertaking, not otherwise provided for in this Section 4;

 

(d) The commencement by the Company of any voluntary proceeding under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, receivership, dissolution, or liquidation law or statute of any jurisdiction, whether now or hereafter in effect; or the adjudication of the Company as insolvent or bankrupt by a decree of a court of competent jurisdiction; or the petition or application by the Company for, acquiescence in, or consent by the Company to, the appointment of any receiver or trustee for the Company or for all or a substantial part of the property of the Company; or the assignment by the Company for the benefit of creditors; or the written admission of the Company of its inability to pay its debts as they mature; or

 

  

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(e) The commencement against the Company of any proceeding relating to the Company under any bankruptcy, reorganization, arrangement, insolvency, adjustment of debt, receivership, dissolution or liquidation law or statute of any jurisdiction, whether now or hereafter in effect, provided, however, that the commencement of such a proceeding shall not constitute an Event of Default unless the Company consents to the same or admits in writing the material allegations of same, or said proceeding shall remain undismissed for 20 days; or the issuance of any order, judgment or decree for the appointment of a receiver or trustee for the Company or for all or a substantial part of the property of the Company, which order, judgment or decree remains undismissed for 20 days; or a warrant of attachment, execution, or similar process shall be issued against any substantial part of the property of the Company.

In the event the Holder becomes aware of a breach of Sections 4(a), (b) or (c), then provided such breach is capable of being cured by Company, the Holder shall notify the Company in writing of such breach and the Company shall have thirty (30) calendar days after notice to cure such breach.

Upon the occurrence of any Default or Event of Default, the Holder, may, by written notice to the Company, declare all or any unpaid portion of the Total Note Repayment Amount due to Holder, immediately due and payable, in which event it shall immediately be and become due and payable, provided that upon the occurrence of an Event of Default as set forth in paragraph (d) or paragraph (e) hereof, all or any portion of the unpaid Total Note Repayment Amount due to Holder shall immediately become due and payable without any such notice.

5. NOTICES. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the Party to be notified, (b) when sent by confirmed facsimile if sent during normal business hours of the recipient, if not, then on the next business day, or (c) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent as follows:

 

	 	If to the Company:	Premier Biomedical, Inc. 
P.O. Box 31374

El Paso, TX 79930

Attn: William A. Hartman, President

Facsimile (___) ______________________

	 	 	 
	 	with a copy to:	Clyde Snow & Sessions, PC 
201 S. Main Street, 13th Floor

Salt Lake City, UT 84111

Attn: Brian A. Lebrecht

Facsimile (801) 521-6280

 

  

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	 	If to Holder:	
______________________

______________________

______________________

Facsimile (___) __________

or at such other address as the Company or Holder may designate by ten (10) days advance written notice to the other Party hereto.

 

6. ASSIGNMENT. In the event Company sells substantially all of its assets owned at the time of execution of this Note, Holder hereby agrees to the assignment of the Note to the buyer or transferee of the assets of the Company, provided that the assignee in such transaction assumes all of the Company’s obligations under this Note. The Company will execute or obtain all documents reasonably requested by the Holder in furtherance of such purported assignee’s assumption of obligations.

7. GOVERNING LAW; VENUE. This Note is executed pursuant to and shall be interpreted and governed for all purposes under the laws of the State of Texas. Any cause of action brought to enforce any provision of this Note shall be brought in the appropriate court in El Paso County, Texas. If any provision of this Agreement is declared void, such provision shall be deemed severed from this Note, which shall otherwise remain in full force and effect. This Note shall supersede any previous agreements, written or oral, expressed or implied, between the parties relating to the subject matter hereof.

8. ATTORNEY’S FEES. The Company agreed to pay the following costs, expenses, and attorneys' fees paid or incurred by Holder, or adjudged by a court: (i) reasonable costs of collection, costs, and expenses, and attorneys' fees paid or incurred in connection with the collection or enforcement of this Note, and (ii) costs of suit and such sum as the court may adjudge as attorneys' fees in any action to enforce payment of this Note or any part of it.

9. CONFORMITY WITH LAW. It is the intention of the Company and of the Holder to conform strictly to applicable usury and similar laws. Accordingly, notwithstanding anything to the contrary in this Note, it is agreed that the aggregate of all charges which constitute interest under applicable usury and similar laws that are contracted for, chargeable or receivable under or in respect of this Note, shall under no circumstances exceed the maximum amount of interest permitted by such laws, and any excess, whether occasioned by acceleration or maturity of this Note or otherwise, shall be canceled automatically, and if theretofore paid, shall be either refunded to the Company or credited on the principal amount of this Note.

10. MODIFICATION; WAIVER. No modification or waiver of any provision of this Note or consent to departure therefrom shall be effective unless in writing and approved by the Company and the Holder. No delay or omission by Holder in exercising any right hereunder shall operate as a waiver of such right or any other right of Holder. A waiver on one occasion shall not be construed as a bar to or waiver of any right in the future.

 

  

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11. SEVERABILITY; REFORMATION. In case any one or more of the provisions or parts of a provision contained in this Agreement shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision or part of a provision of this Agreement; and this Agreement shall, to the fullest extent lawful, be reformed and construed as if such invalid or illegal or unenforceable provision, or part of a provision, had never been contained herein, and such provision or part reformed so that it would be valid, legal and enforceable to the maximum extent possible. Without limiting the foregoing, if any provision (or part of provision) contained in this Agreement shall for any reason be held to be excessively broad as to duration, activity or subject, it shall be construed by limiting and reducing it, so as to be enforceable to the fullest extent compatible with then existing applicable law.

12. EXPENSES. Each Party shall pay their own expenses in connection with this Note.

13. TRIAL BY JURY. COMPANY (A) AGREES NOT TO ELECT A TRIAL BY JURY WITH RESPECT TO ANY ISSUE ARISING OUT OF THIS NOTE OR THE RELATIONSHIP BETWEEN THE PARTIES AS HOLDER AND HOLDER THAT IS TRIABLE OF RIGHT BY A JURY AND (B) WAIVE ANY RIGHT TO TRIAL BY JURY WITH RESPECT TO SUCH ISSUE TO THE EXTENT THAT ANY SUCH RIGHT EXISTS NOW OR IN THE FUTURE. THIS WAIVER OF RIGHT TO TRIAL BY JURY IS SEPARATELY GIVEN BY COMPANY, KNOWINGLY AND VOLUNTARILY.

 

  

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IN WITNESS WHEREOF, Company has executed this Promissory Note as of the date first written above.

	  	
“Company”

	  	  
	  	
Premier Biomedical, Inc.,

	  	
a Nevada corporation

	  	  
	  	_________________________________
	  	
By:

	  	
Its:

	  	  
	  	  
	
Acknowledged:

	  
	  	  
	  	  
	_________________________________	  
	
By:

	  

 

 

 

 

 

 

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