Document:

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EXHIBIT 4.6

WIRELESS RONIN TECHNOLOGIES

CONVERTIBLE DEBENTURE NOTE

March 12, 2004

     WIRELESS RONIN TECHNOLOGIES, INC., a Minnesota Corporation, with offices located at 510 First
Avenue Suites 301 and 304, Minneapolis MN 55403, (“Borrower”), hereby agrees to pay to the order of
STEVE MEYER (“Lender”) at 9088 Neill Lake Rd. Eden Prairie MN 55347 the sum of One Hundred Thousand
($100,000) Dollars (“Loan Amount”) plus interest thereon on the unpaid balances from time to time
remaining, from the date hereof until this Note is fully paid.

     This unpaid principal balance of this Note together with all unpaid and accrued interest shall
be due and payable in full on July 12, 2004 (“maturity”). Unless this Note has been prepaid before
July 12, 2004, at the sole discretion of Lender, the maturity of this note may be extended for an
additional 90-days to October 11, 2004. Such extension shall occur only if given by Lender to
Borrower in writing.

     The interest on this Note is at the rate of Twelve Percent (12%) per annum from the date
hereof. In the event that the maturity is extended for the additional 90-day period, the interest
on this Note shall increase commencing July 13, 2004 to the rate of Sixteen (16%) Percent per
annum.

     In addition to interest Borrower shall pay Lender on the Loan Amount, Borrower shall (i) issue
to Lender forthwith fifty thousand (50,000) shares of Borrower’s common stock (ii) grant and
deliver to Lender a Warrant by which Lender shall have the right and option for a period of five
years from the date hereof to purchase up to twenty-five thousand (25,000) shares of Borrower’s
common stock at one ($1.00) dollar per share, as adjusted for stock splits, stock dividends,
recapitalization or otherwise, and (iii) if Lender elects to extend the maturity date of this note
as above provided, Borrower shall grant and deliver to Lender a Warrant by which Lender shall have
the right and option for a period of five years from July 13, 2004 to purchase up to fifty thousand
(50,000) shares of Borrower’s common stock at one ($1.00) dollar per share, as adjusted for stock
splits, stock dividends, recapitalization or otherwise.

     Lender is hereby granted the right and option, at any time prior to the later to occur of (i)
the maturity date of the note or (ii) the date at which is Note is actually paid, to convert the
unpaid principal balance of this Note together with any unpaid interest due hereon, in whole or in
part, into shares of Borrower’s common stock at the conversion ratio of $.50 or the then current
offering price, whichever is less, for one share of Borrower’s common stock, as adjusted for stock
splits, stock dividends, recapitalization or otherwise. Notwithstanding the foregoing, if Borrower
prepays this Note prior to July 12, 2004 the conversion ratio shall be $1.00 or the then current
offering price, whichever is less, for one share of Borrower’s common stock, as adjusted for stock
splits, stock dividends, recapitalization or otherwise.

     At the option of the holder of this Note, any payment under this Note may be applied first to
the payment of charges, fees and expenses (other than principal and interest) under this Note and
any other agreement or writing in connection with this Note, second to the payment of interest
accrued through the date of payment, and third to the payments of principal under this Note in
inverse order of maturity. Also, at the option of the holder of this Note, if there is any
overpayment of interest under this Note, the holder of this Note may hold the excess and apply it
to future interest accruing under this Note. The Borrower represents, warrants, certifies to the
Lender and agrees that all advances under this Note shall be used solely for business purposes.

 

 

     The occurrence of any of the following events shall constitute an Event of Default under this
Note:

	 	(i)	 	Any breach or default in the payment or performance of this Note; or
	 
	 	(ii)	 	Any breach or default under the terms of any other note, obligation, mortgage,
deed of trust, security agreement, mortgage, assignment, guaranty, other agreement,
security instrument or document or other writing heretofore, herewith or hereafter
existing to which the Borrower or any endorser, guarantor or surety of this Note of any
other person or entity providing security for this Note or for any guaranty of this
Note is a party; or
	 
	 	(iii)	 	The insolvency, death, dissolution, liquidation, merger or consolidation of
any such Borrower, endorser, guarantor, surety or other person or entity; or
	 
	 	(iv)	 	Any appointment of a receiver, trustee or similar officer of any property of
any such Borrower, endorser, guarantor, surety or other person or entity; or
	 
	 	(v)	 	Any assignment for the benefit of creditors or any such Borrower, endorser,
guarantor, surety or other person or entity; or
	 
	 	(vi)	 	Any commencement of any proceeding under any bankruptcy, insolvency,
receivership, dissolution, liquidation or similar law by or against any such Borrower,
endorser, guarantor, surety or other person or entity; or
	 
	 	(vii)	 	The sale, lease or other disposition (whether in one or more transactions) to
one or more persons or entities of all or a substantial part of the assets of Borrower
or any such endorser, guarantor, surety or other person or entity; or
	 
	 	(viii)	 	Borrower or any such endorser, guarantor, surety or other person or entity takes any
action to go out of business, or to revoke or terminate any agreement, liability or
security in favor of the holder of this Note; or
	 
	 	(ix)	 	The entry of any judgment or other order for the payment of money in the amount
of $5,000.00 or more against Borrower or any such endorser, guarantor, surety or other
person or entity; or
	 
	 	(x)	 	The issuance or levy of any writ, warrant, attachment, garnishment, execution
or other process against any property of Borrower or any such endorser, guarantor,
surety or other person or entity; or
	 
	 	(xi)	 	The attachment of any tax lien to any property of Borrower or any such
endorser, guarantor, surety or other person or entity; or
	 
	 	(xii)	 	Any statement, representation or warranty made by Borrower or any such
endorser, guarantor, surety or other person or entity (or any representative of
Borrower or any such endorser, guarantor, surety or other person or entity) to the
holder of this Note at any time shall be incorrect or misleading in any material
respect when made; or
	 
	 	(xiii)	 	There is a material adverse change in the condition (financial or otherwise),
business or property of Borrower or any such endorser, guarantor, surety or other
person or entity; or

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	 	(xiv)	 	The holder of this Note shall in good faith believe that the prospect of due
and punctual payment or performance of this Note or the due and punctual payment or
performance of any other note, obligation, mortgage, deed of trust, assignment,
guaranty, or other agreement heretofore, herewith or hereafter given to or acquired by
the holder of this Note in connection with this Note is impaired.

     Upon the commencement of any proceeding under any Bankruptcy law by or against Borrower or any
such endorser, guarantor, surety or other person or entity, the unpaid principal balance of this
Note plus accrued interest and all other charges, fees and expenses under this Note shall
automatically become immediately due and payable in full, without any declaration, presentment,
demand, protest, or other notice of any kind. Upon the occurrence of any other Event of Default
and at any time thereafter, the then holder of this Note may, at its option, declare this Note to
be immediately due and payable in full and thereupon the unpaid principal balance of this Note plus
accrued interest and all other charges, fees and expenses under this Note shall immediately become
due and payable in full, without any presentment, demand, protest or other notice of any kind.

     The Borrower grants the holder of this Note a lien and security interest in all of the
Borrower’s present and future property now or hereafter in the possession, control or custody of,
or in transit to, the holder of this Note for any purpose, and the balance of every present and
future account of the Borrower with the holder of this Note, and each present and future claim of
the Borrower against the holder of this Note. Such lien and security interest secures all present
and future debts, obligations and liabilities of the Borrower to the holder of this Note. When or
at any time after any such debt, obligation or liability becomes due or in default the holder of
this Note may foreclose such lien and security interest, and the holder of this Note may offset or
charge all or any part of the aggregate amount of such debts, obligations and liabilities against
any such property, accounts and claims without notice.

     The indebtedness evidenced hereby is guaranteed by a Security Agreement of even date herewith.

     The Borrower: (i) waives demand, presentment, protest, notice of protest, notice of dishonor
and notice of nonpayment of this Note; (ii) agrees to promptly provide the holder of this Note from
time to time with the Borrower’s financial statements and such other information respecting the
financial condition, business and property of the Borrower as the holder of this Note may request,
in form and substance acceptable to the holder of this Note; (iii) agrees to pay on demand all
fees, costs and expenses of the holder of this Note in connection with this Note and any
transactions and matters relating to this Note, including but not limited to audit fees and
expenses and reasonable attorneys’ fees and legal expenses, with or without court proceedings, plus
interest on such amounts at the rate set forth in this Note; and (iv) consents to the personal
jurisdiction of the state and federal courts located in the State of Minnesota in connection with
any controversy related in any way to this Note or any transaction or matter relating to this Note,
waives any argument that venue in such forums is not convenient, and agrees that any litigation
initiated by the Borrower against the Bank or any other holder of this Note relating in any way to
this Note or any transaction or matter relating to this Note, shall be venued in either the
District Court of Hennepin County, Minnesota, or the United States District Court, District of
Minnesota, Fourth Division. Interest on any amount under this Note shall continue to accrue, at
the option of the holder of this Note, until such holder receives final payment of such amount in
collected funds in form and substance acceptable to such holder.

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     No waiver of any right or remedy under this Note shall be valid unless in writing executed by
the holder of this Note, and any such waiver shall be effective only in the specific instance and
for the specific purpose given. All rights and remedies of the holder of this Note shall be
cumulative and may be exercised singly, concurrently or successively. All references in this Note
to the holder of this Note shall mean the Lender and any and all other present and future holders
of this Note. This Note shall bind the Borrower and the successors and assigns of the Borrower.
This Note shall benefit the holder of this Note and its successors and assigns. This Note shall be
governed by and construed in accordance with the internal laws of the State of Minnesota (excluding
conflict of law rules).

	 	 	 	 	 	 	 
	Wireless Ronin Technologies, Inc.

	 	 	 	Steve Meyer	 	 
	 

Borrower

	 	 	 	 Lender
	 	 
	 
	 	 	 	 	 	 
	/s/ Jeffrey Mack

	 	 	 	/s/ Steve Meyer	 	 
	 

Jeffrey Mack

	 	 	 	 

Signature
	 	 
	Chief Executive Officer
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	3/12/04

	 	 	 	3/13/04	 	 
	 

Date

	 	 	 	 

Date
	 	 

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EXHIBIT 4.7

PROMISSORY NOTE

			
	Date: November 11th, 2005
	 	Eden Prairie, Minnesota

     FOR VALUE RECEIVED, the undersigned, Wireless Ronin® Technologies, a Minnesota corporation
(“Borrower”), promises to pay to the order of SHAG LLC or its registered assigns (“Lender”), by
check made payable to Lender and mailed to Lender’s address or in such other manner as Lender from
time to time may specify by notice in writing to the Borrower, in lawful money of the United States
of America, the principal sum of $100,000.00 (One hundred thousand dollars) together with interest
on the unpaid principal balance hereof, from the date hereof until this Note is fully paid, at a
rate of interest of 10% per annum (computed on the basis of a 365 day year for the actual number of
days in any period for which such computation is made). The outstanding principal balance of this
Note, and accrued interest thereon, shall become due and payable in full ninety (90) days from the
date of this Note.

     Further, upon execution of this Note, Lender will receive a five year warrant to purchase
25,000 (twenty five thousand) shares of the Borrower’s common stock priced at $1.00, certificate
number W-253.

     Borrower may prepay the outstanding amount hereunder, in full or in part, at any time without
premium or penalty. Any partial prepayment will be applied to first to accrued but unpaid interest
and then to principal.

     The principal and all interest accrued thereon will become automatically due and payable
without notice or demand if a petition is filed by or against Borrower under the United States
Bankruptcy Code.

     No delay on the part of the Lender in exercising any right or remedy hereunder will operate as
a waiver of or preclude the exercise of such right or remedy or of any other remedy under this
Note. No waiver by the Lender hereof will be effective unless in writing signed by such Lender. A
waiver on any one occasion will not be construed as a waiver of any such right or remedy on any
other occasion.

     If Borrower fails to make any payment of principal or interest on this Note when due, and such
event of default continues for a period in excess of ten (10) calendar days, the Borrower will be
charged 5% of the unpaid principal.

     Presentment or other demand for payment, notice of dishonor and protest are expressly waived.

     This Note shall be binding on the successors and assigns of the Borrower and shall inure to
the benefit of the successors, assigns or distributees of Lender.

     This Note will be governed by the laws of the State of Minnesota without giving effect to any
choice or conflict of law provision or rule that would cause the application of the domestic
substantive laws of any other jurisdiction.

	 	 	 	 	 
	 

	 	Wireless Ronin® Technologies Inc.	 	 
	 
	 	 	 	 
	 

	 	/s/ Jeffrey C. Mack	 	 
	 

	 	 

Jeffrey C. Mack
	 	 
	 

	 	President and CEO

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