Document:

Unsecured Promissory Note dated July 30, 2003

 Exhibit 4.5 
  

GRID PROMISSORY NOTE 
  

			
	 US$1,200,000.00
	 	July 30, 2003
	 	 	Louisville, Colorado

  
 For value received,
receipt and sufficiency of which is acknowledged, Sound Surgical Technologies LLC, a limited liability company organized and existing under the laws of the state of Colorado, and having its principal office at 357 So. McCaslin Blvd., Suite 100,
Louisville, CO 80027 (“Borrower”) promises to pay to Donald B. Wingerter (“Lender”) on demand at 684 Humphrey Drive, Evergreen, CO 80439 the principal sum of One Million Two Hundred Thousand United States Dollars
(US$1,200,000.00) or, if less, the principal amount shown to be due on the attached schedule, together with interest on the unpaid principal balance from time to time at the rate of twelve percent (12%) per year from the date of borrowing of such
principal amount until paid in full. Borrower authorizes and appoints Douglas D. Foote as agent of Borrower to enter each borrowing and repayment of principal under this Note on the schedule attached to and hereby incorporated in this Note and
agrees that such entries shall be conclusive evidence of the principal balance due under this Note at any time, absent manifest error. Initial borrowing under this Note shall be Seven Hundred Twenty Thousand United States Dollars (US$720,000.00).
This Note is in full payment and satisfaction of the principal amount of $500,000.00 due under that promissory note from Borrower to Lender dated August 1, 2002 in the face amount of $500,000.00 and the additional principal amount of $220,000
borrowed by Borrower from Lender from June 26, 2003 through the date of this Note. 
  
 Borrower may repay the principal amount outstanding under this Note in whole or in part at any time without penalty. 
  
 Upon default in the payment of principal or interest when due, the entire unpaid balance of principal and interest then due shall bear interest at the
rate per year equal to the prime rate published in the Wall Street Journal under “Money Rates” or its successor heading from time to time plus eight (8) percentage points or the highest rate allowed by law, whichever is lower, until paid
in full. 
  
 If this Note is placed in the hands of an attorney
for collection, or is collected in whole or in part by suit or through bankruptcy or other legal proceedings of any kind, Borrower agrees to pay, in addition to all principal and interest payable under this Note, all costs and expenses of
collection, including but not limited to reasonable attorneys’ fees. 
  
 Borrower and any and all endorsers of this Note severally waive presentment for payment, notice of nonpayment, demand, notice of demand, protest, notice of protest, notice of dishonor, diligence in enforcement and
notice of indulgences of every kind and without further notice hereby agree to renewals, extensions, indulgences or partial payments, either before or after demand for payment. 

 This note has been executed under, and shall be construed and enforced in accordance with, the laws of
the state of Colorado, except as such laws are preempted by applicable federal laws of the United States of America. 
  
  
 The undersigned represent that they are Managers of Borrower, and that they
have full power and authority to execute and deliver this Note on behalf of Borrower, and that when so executed and delivered, it will constitute the valid and binding obligation of Borrower, enforceable against Borrower in accordance with its
terms, subject to applicable laws dealing with insolvency and bankruptcy and to laws affecting creditors rights generally. 
  
 Executed and delivered this 30th day of July 2003. 
  
 SOUND SURGICAL TECHNOLOGIES
LLC 
  

			
	             / Douglas D. Foote /
	 	             / William W. Cimino /

	 By: Douglas D. Foote
	 	 By: William W. Cimino

  
 SCHEDULE TO GRID
PROMISSORY NOTE 
 SOUND SURGICAL TECHNOLOGIES LLC to 
 DONALD B. WINGERTER 
  

			
	 Dated July 30, 2003
	 	US$1,200,000.00

  

											
	 DATE
	  	 
 	AMOUNT
BORROWED	  	AMOUNT
REPAID	  	 
 	PRINCIPAL
BALANCE DUE	  	INITIALS
					
	 July 30, 2003
	  	$	720,000.00	  	 	  	$	720,000.00	  	/ DF /
					
	 August 01, 2003
	  	$	15,000.00	  	 	  	$	735,000.00	  	/ DF /
					
	 August 06, 2003
	  	$	24,000.00	  	 	  	$	759,000.00	  	/ DF /
					
	 August 08, 2003
	  	$	8,000.00	  	 	  	$	767,000.00	  	/ DF /
					
	 August 11, 2003
	  	$	18,000.00	  	 	  	$	785,000.00	  	/ DF /
					
	 August 12, 2003
	  	$	2,300.00	  	 	  	$	787,300.00	  	/ DF /
					
	 August 27, 2003
	  	$	2,000.00	  	 	  	$	789,300.00	  	/ DF /
					
	 August 28, 2003
	  	$	5,000.00	  	 	  	$	794,300.00	  	/ DF /
					
	 September 4, 2003
	  	$	85,700.00	  	 	  	$	880,000.00	  	/ DF /
					
	 September 5, 2003
	  	$	23,000.00	  	 	  	$	903,000.00	  	/ DF /

 SCHEDULE (Continued – Page 2) TO GRID PROMISSORY NOTE 
 SOUND SURGICAL TECHNOLOGIES LLC to 
 DONALD B. WINGERTER 
  

			
	 Dated July 30, 2003
	 	US$1,200,000.00

  

												
	 DATE
	  	 
 	AMOUNT
BORROWED	  	 
 	AMOUNT
REPAID	  	 
 	PRINCIPAL
BALANCE DUE	  	INITIALS
					
	 September 10, 2003
	  	$	19,000.00	  	 	 	  	$	922,000.00	  	/ DF /
					
	 September 11, 2003
	  	$	17,000.00	  	 	 	  	$	939,000.00	  	/ DF /
					
	 September 12, 2003
	  	$	5,000.00	  	 	 	  	$	944,000.00	  	/ DF /
					
	 September 15, 2003
	  	$	26,000.00	  	 	 	  	$	970,000.00	  	/ DF /
					
	 September 16, 2003
	  	$	54,000.00	  	 	 	  	$	1,024,000.00	  	/ DF /
					
	 September 17, 2003
	  	$	8,000.00	  	 	 	  	$	1,032,000.00	  	/ DF /
					
	 September 18, 2003
	  	$	3,000.00	  	 	 	  	$	1,035,000.00	  	/ DF /
					
	 September 29, 2003
	  	$	22,000.00	  	 	 	  	$	1,057,000.00	  	/ DF /
					
	 October 6, 2003
	  	$	1,000.00	  	 	 	  	$	1,058,000.00	  	/ DF /
					
	 October 8, 2003
	  	$	31,000.00	  	 	 	  	$	1,089,000.00	  	/ DF /
					
	 October 8, 2003
	  	$	13,000.00	  	 	 	  	$	1,102,000.00	  	/ DF /
					
	 October 16, 2003
	  	$	5,000.00	  	 	 	  	$	1,107,000.00	  	/ DF /
					
	 December 5, 2003
	  	 	 	  	$	632,750.00	  	$	474,250.00	  	/ DF /
					
	 December 14, 2004
	  	 	 	  	$	474,250.00	  	$	 -0-	  	/ DF /Conversion Agreement dated February 1, 2002

 Exhibit 4.6 
  
 Agreement 
  
 This Agreement is made as of the 1st
day of February 2002 by and between Donald B. Wingerter, an individual residing at 684 Humphrey Drive, Evergreen, CO 80439 (“Creditor”) and Sound Surgical Technologies LLC, a Colorado limited liability company with offices at 1300 Plaza
Court North, Suite 103, Lafayette, CO 80026-1467 (“Company”). 
  
 At
the date of this Agreement, Company is indebted to Creditor in the principal amount of $384,000.00 and accrued interest in the amount of $24,928.73, a total aggregate amount of $408,928.73 (the “Debt”). Company is authorized to issue
Series A Cumulative Convertible Redeemable Preferred Units (the “Series A Preferred Units”). Creditor desires to receive and Company desires to issue to Creditor ninety nine (99) Series A Preferred Units at a price of $4,125 per Series A
Preferred Unit in full payment, settlement and satisfaction of $408,375 of the Debt. 
  
 Now, therefore, in consideration of the foregoing and of the mutual agreements below, Creditor and Company agree as follows: 
  

	 	1.	Effective February 1, 2002, Company shall issue to Creditor ninety nine (99) Series A Preferred Units, duly authorized, validly issued, fully paid and non-assessable, carrying the
terms and conditions stated in Annex A attached to and incorporated in this Agreement (the “Series A Units”), in consideration for cancellation by Creditor of principal indebtedness of Company to Creditor in the amount of Three Hundred
Eighty Four Thousand Dollars ($384,000) (the “Principal Indebtedness”) and accrued interest on such principal in the amount of Twenty Four Thousand Three Hundred and Seventy Five Dollars ($24,375) (the “Accrued Interest”).

  

	 	2.	Creditor hereby agrees to accept from Company, upon issuance and registration of the same in his name on the records of the Company, the Series A Units in full payment, settlement
and satisfaction of the Principal Indebtedness and the Accrued Interest effective February 1, 2002. 

  
 In witness whereof, Creditor has executed and delivered this Agreement and Company has caused the execution and delivery of this Agreement by its officer and manager duly
authorized for such purpose as of the date first written above. 
  

					
	 CREDITOR
	 	 COMPANY

	 	 	Sound Surgical Technologies LLC
			
	 / Donald B. Wingerter /
	 	 	  	/ Douglas D. Foote /
	  

	 	 By
	  	  

	 Donald B. Wingerter
	 	 	  	Douglas D. Foote
	 	 	 	  	Chief Financial Officer and Manager

  

 Annex A 
 to Agreement dated February 1, 2002 
 between Donald B. Wingerter and Sound Surgical Technologies
LLC 
  
 1. Series A Preferred Units. The Company is authorized to
issue up to 200 Series A Cumulative Convertible Redeemable Preferred Units (“Series A Preferred Units”) at a price of $4,125 per Series A Preferred Unit. 
  
 2. Cumulative Preferred Dividend. Each Series A Preferred Unit shall be entitled to a dividend annually on each anniversary of the
issuance of such Series A Preferred Unit in the amount of $412.50. Such dividend shall be paid only if there are sufficient retained earnings in the Company to permit such payment and the Management Committee deems such payment to be in the best
interest of the Company. Dividends payable (whether on Series A Preferred Units or on accrued but unpaid dividends as provided below) but unpaid shall accrue and such dividends remaining unpaid at the next anniversary of the issuance of the Series A
Preferred Units to which such dividends relate shall themselves be entitled to a dividend annually on such anniversary date, and on each subsequent anniversary date so long as the same remain unpaid, in an amount equal to 10% of such accrued but
unpaid dividends. The Company shall make no distribution to the holder of any Units unless and until all accrued dividends payable to the holders of Series A Preferred Units have been paid. 
  
 3. Preference Upon Liquidation. In the event of liquidation of the Company, no
distribution shall be made to holders of Units until distributions have been made to the holders of Series A Preferred Units in the aggregate amount of $4,125 per Series A Preferred Unit plus the sum of all accrued but unpaid dividends on such
Series A Preferred Unit. 
  
 4. Holder’s Conversion Rights. The
holders of Series A Preferred Units registered in the records of the Company shall have the right upon notice to the Company (a) to convert all or any part of such Series A Preferred Units to Units at any time and from time to time at the ratio of
two Series A Preferred Units for each Unit and (b) to convert all or any part of accrued but unpaid dividends on such Series A Preferred Units to Units at a value of $8,250 per Unit. Such notice shall be irrevocable. Upon receipt of such notice, the
Company shall register in the records of the Company in the name of the holder giving such notice the number of Units into which such Series A Preferred Units or accrued but unpaid dividends or both are converted and shall give notice of the same to
the holder. Upon registration of such Units in the records of the Company, the Series A Preferred Units or the accrued dividends or both so converted shall be deemed canceled. 
  
 5. Company’s Redemption Rights. At any time and from time to time, the Company may give notice to the holder or holders of all
or any of the Series A Preferred Units selected by the Company that the Company intends to redeem such Series A Preferred Units at a price of $4,125 per Series A Preferred Unit plus payment of all accrued but unpaid dividends on such Series A
Preferred Units (in the aggregate, the “Redemption Amount”) on a date specified (the “Specified Redemption Date”) which date shall be not less than thirty nor more than ninety days after the effective date of such notice. On the
Specified Redemption Date, the Company shall tender to each holder of Series A Preferred Units noticed for redemption who does not give notice of conversion in accordance with the following sentence the appropriate aggregate Redemption Amount, and
the Series A Preferred Units to which such Redemption Amount relates thereupon shall be deemed cancelled. Each holder of Series A Preferred Units noticed for redemption shall have fifteen days from the effective date of such notice in which to give
to Company written notice of such holder’s intent to convert to Units in accordance with Subsection 10.B.4, above, any or all of the Series A Preferred Units noticed for redemption and all accrued but unpaid dividends on or derived from the
Series A Preferred Units to which such notice of intent to convert relates. Such notice shall be irrevocable and such conversion shall take precedence over redemption by the Company. 
  
 6. Voting Rights. Holders of record of Series A Preferred Units shall have voting rights on all matters that come before the Members
of the Company based on one vote for every two such Series A Preferred Units registered in the name of such holder (fractional votes shall not be permitted). 
  

7. Preferred Units Otherwise Deemed Units. Expect as provided in this Subsection 10.B. or if the context requires otherwise to give full effect to this
Subsection, the term “Units” as used in this Operating Agreement shall include Series A Preferred Units.

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