Document:

YOU On Demand Holdings, Inc.: Exhibit 10.13 - Filed by newsfilecorp.com

YOU ON DEMAND HOLDINGS, INC. 

AMENDMENT NO. 1 TO 
CONVERTIBLE PROMISSORY NOTE 

This AMENDMENT NO. 2 TO CONVERTIBLE
PROMISSORY NOTE (the “Amendment”), effective as of May 12, 2016 (the
“Effective Date”), is by and among YOU On Demand Holdings, Inc., a Nevada
corporation (the “Company”) and Beijing Sun Seven Stars Culture
Development Limited, a P.R.C. company (“Purchaser”): 

WHEREAS, the Company and Purchaser are
parties to that certain Convertible Promissory Note of the Company, dated as of
December 21, 2015, in principal amount of Seventeen Million Seven Hundred
Seventeen Thousand Eight Hundred Forty-six & 60/100 Dollars ($17,717,846.60)
(the “Note”); and 

WHEREAS, the Company and Purchaser
desire to amend the Note as provided herein; 

NOW, THEREFORE, in consideration of the
foregoing and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

	1. 	
      Effective as of the Effective Date, Section 1.1 of
      the Note shall be deleted in its entirety and, in lieu thereof, the
      following new Section 1.1 is inserted:

“Maturity Date. The Principal and any other amounts
payable to Purchaser hereunder, shall be due and payable to Purchaser on July
31, 2016 (the “Maturity Date”).” 

	2. 	
      Except as expressly amended by this Amendment, the terms
      and conditions of the Note are hereby confirmed and shall remain in full
      force and effect without impairment or modification.

	 	 
	3. 	
      This Amendment shall be governed by and construed in
      accordance with the laws of the State of New York without giving effect to
      any choice of law or conflict of law provision or rule (whether of the
      State of New York or any other jurisdiction) that would cause the
      application of the laws of any jurisdiction other than the State of New
      York.

	 	 
	4. 	
      This Amendment may be executed electronically via email
      or facsimile and in two or more counterparts, each of which shall be
      deemed an original, but all of which together shall constitute one and the
      same instrument.

[Remainder of Page Intentionally Left Blank; Signature Page
Follows] 

 

 

IN WITNESS WHEREOF, the undersigned
have executed this Amendment as of the date first set forth above. 

YOU ON DEMAND HOLDINGS, INC.

By: /s/ Mingcheng
Tao                                       
Name: Mingcheng Tao 
Title: Chief Executive
Officer 

BEIJING SUN SEVEN STARS CULTURE 
DEVELOPMENT LIMITED:

By: /s/ Bruno Wu                                                   
Name: Bruno Wu

Title: Chairman & CEO 

 

 

[Signature Page – Amendment No. 1 to Convertible Promissory
Note]Converted by EDGARwiz

 

 

          Exhibit 10.4
 

 FIRST AMENDMENT TO
 ACCOUNTS RECEIVABLE PURCHASE AGREEMENT
 

 THIS FIRST AMENDMENT TO ACCOUNTS RECEIVABLE PURCHASE AGREEMENT, dated as of April 11, 2016 (this “Amendment”), between Republic Capital Access, LLC, a Delaware limited liability company (“RCA”), and Implant Sciences Corporation, a Massachusetts corporation (“Seller”). Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings given to such terms in the Agreement (as defined below).
 W I T N E S S E T H:
 WHEREAS, Seller and RCA (collectively the “Parties”) entered into an Accounts Receivable Purchase Agreement (the “Agreement”), dated the 11th day of December 2015; 
 

 WHEREAS, the Parties wish to amend certain terms of the Agreement; and
 

 WHEREAS, in furtherance of the foregoing, the Parties desire to enter into this Amendment to amend the Agreement, as hereinafter set forth.  
 NOW, THEREFORE, in consideration of the foregoing, of the mutual promises herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending legally and equitably to be bound, hereby agree as follows:
 

 SECTION 1. AMENDMENT TO THE AGREEMENT
 

 Effective as of the date hereof, the Agreement is amended as follows:
 1.1
 Section 2.2 of the Agreement – Facility Limit is changed to be three million five hundred thousand dollars ($3,500,000.00)
 SECTION 2.
 REPRESENTATIONS AND WARRANTIES
 In order to induce RCA to enter into this Amendment, hereby represents and warrants to RCA as of the date hereof as follows:
 2.1
 Seller has the power and authority and legal right to execute and deliver this Amendment and to perform and observe the terms of this Amendment.  The execution, delivery and performance of this Amendment by Seller have been duly 
 

  
 

 
 authorized by Seller by all necessary action and Seller has duly executed and delivered this Amendment.  
 2.2
 This Amendment constitutes the legal, valid and binding obligation of Seller, enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect relating to creditors’ rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law).
 2.3
 No Event of Default has occurred and is continuing under the Agreement, both before and immediately after giving effect to this Amendment.
 2.4
 Since December 11, 2015, no event or events have occurred which have had or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect under the Agreement.
 SECTION 3.
 MISCELLANEOUS
 3.1
 From and after the Amendment Effective Date, all references to the Agreement shall, unless otherwise specifically provided, be references to the Agreement as amended by this Amendment and as the same may be amended, supplemented or otherwise modified from time to time. 
 3.2
 Seller hereby ratifies and reaffirms all of its obligations, contingent or otherwise, under the Agreement. Seller hereby acknowledges that, except as expressly modified herein, the Agreement remains in full force and effect and is hereby ratified and reaffirmed.
 3.3
 This Amendment may be executed by the Parties on any number of separate counterparts (including by facsimile or other electronic transmission), and all of said counterparts taken together shall be deemed to constitute one and 
 3.4
 THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE COMMONWEALTH OF VIRGINIA WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW THEREOF WHICH WOULD REQUIRE THE APPLICATION OF THE LAW OF ANY OTHER JURISDICTION.
 3.5
 If any one or more of the covenants, agreements, provisions or terms of this Amendment shall for any reason whatsoever be held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Amendment and shall in no way affect the validity or enforceability of the other provisions of this Amendment or rights of any party hereto; provided, that in case any provision in or obligation under this Amendment should be invalid, illegal or unenforceable in 
 

 2
  
 

 
 any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.  The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.
 3.6
 Section headings used herein are for convenience of reference only, are not part of this Amendment and are not to affect the construction of, or to be taken into consideration in interpreting, this Amendment.
 

 

 [Signatures appear on the following page.]
 

 3
  
 

 
 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized officers as of the date first above written.
 

 REPUBLIC CAPITAL ACCESS, LLC
 

 

 

 By: /s/ Timothy J. Gilmore
 

 Name: Timothy J. Gilmore
 

 Title: CFO
 

 

 

 IMPLANT SCIENCES CORPORATION
 

 

 By: /s/ Roger P. Deschenes
 

 Name:
 Roger P. Deschenes, CMA
 

 Title:   Vice President, Finance & 
             Chief Financial Officer
 

 

 

 

 4Exhibit 10.17 Promissory Note

UNSECURED PROMISSORY NOTE

 Scottsdale, Arizona

 May 11, 2016 

FOR VALUE RECEIVED, the undersigned, Northsight Capital, Inc., a Nevada Corporation with a business address of 7740 E. Evans Road, Scottsdale, AZ 85260 (hereinafter referred to as the “Maker”), hereby promises to pay to the order of Sandor Capital Master Fund, with a mailing address of 2828 Routh St., St. 500, Dallas, TX 75201 (“Holder”), the sum of SIXTY FIVE THOUSAND DOLLARS ($65,000) and any other fees and charges, on May 11, 2017, subject to reasonable extension, with the consent of the Holder, which consent shall not be unreasonably withheld, conditioned or delayed (the “Maturity Date”).. 

The entire balance of outstanding principal and other fees and charges shall be due and payable on the earlier of the following: (I) the Maturity Date; and (ii) an Event of Default (as defined below). 

Interest shall not be payable under this Note unless and until the principal due hereunder has been paid in full.  Once the principal amount of this Note has been paid in full, interest shall only be payable under this Note if and to the extent that the Maker’s majority joint venture company (which owns the URL www.jointlovers.com) (“JVCO”) has revenues, in which case, interest shall be payable as follows: Maker shall pay to Holder quarterly in arrears an amount equal to the product of (i) a fraction, the numerator of which is the original principal amount of this Note and the denominator of which is the principal amount of all similar Notes issued in this series of Notes and (ii) twenty five (25%) percent of the Net Revenues (defined below), after deduction of Operating Expenses (defined below), of JVCO, until such time as the Holder has been paid an aggregate of fifty (50%) percent of the original face amount of this Note. 

For purposes of this Note, “Net Revenues” shall be defined as any and all revenues of JVCO, including but not limited to revenues derived from memberships, advertising, email lists, product sales, and data, less any additional amounts that the JVCO partners determine to be necessary to meet the operating needs of the Business, but not less than ten (10%) percent of gross revenues. For purposes of this Note, “Operating Costs” shall be defined as hosting, servers, website maintenance, marketing, social media, advertising, customer service and support, audit and accounting, taxes, tax preparation, filings and general and administrative support. For the avoidance of doubt, if (i) the principal amount of this Note has been paid in full (or converted), (ii) the original amount of this Note is $100,000 and the total amount of Notes in the series is $500,000, (iii) JVCO has revenues after operating expenses of $250,000 in a given quarter, then it shall pay to the holder of this Note $12,500 with respect to such quarter, determined as follows: $100,000/$500,000 X 25% ($250,000) = $12,500.   

  

Each of the following shall constitute an “Event of Default” hereunder: (i) Maker’s failure to make any payment when due hereunder; (ii) with respect to Maker, the commencement of an action seeking relief under federal or state bankruptcy or insolvency statutes or similar laws, or seeking the appointment of a receiver, trustee or custodian for Maker or all or part of its assets, or the commencement of an involuntary proceeding against Maker under federal or state bankruptcy or insolvency statues or similar laws, which involuntary proceeding is not dismissed or stayed within thirty (30) days; or (iii) if Maker makes an assignment for the benefit of creditors.  If an Events of Default occurs, the obligations under this note shall become immediately due and payable without notice or demand.  

Maker agrees to pay all reasonable costs and expenses, including, without limitation, reasonable attorneys’ fees and expenses incurred, or which may be incurred, by Holder in connection with the enforcement and collection of this note.  Such costs and expenses shall be payable upon demand for the same and until so paid shall be added to the principal amount of the note.  

Maker hereby waives presentment, demand, notice, protest and all other demands and notices in connection with the delivery, acceptance, performance and enforcement of this note, and assent to extensions of the time of payment or forbearance or other indulgence without notice.  No delay or omission of Holder in exercising any right or remedy hereunder shall constitute a waiver of any such right or remedy.  Acceptance by Holder of any payment after demand shall not be deemed a waiver of such demand.  A waiver on one occasion shall not operate as a bar to or waiver of any such right or remedy on any future occasion.

This instrument, together with the Security Agreement between Maker and Holder dated the date hereof contains the entire agreement among Maker and Holder with respect to the transactions contemplated hereby, and supersedes all negotiations, presentations, warranties, commitments, offers, contracts and writings prior to the date hereof relating to the subject matter hereof. This instrument may be amended, modified, waived, discharged or terminated only by a writing signed by Maker and accepted in writing by Holder.

This instrument shall be governed by Nevada law, without regard to the conflict of laws provisions thereof.  For purposes of any action or proceeding involving this note, Maker hereby expressly submits to the jurisdiction of all federal and state courts located in the State of Arizona and consents to any order, process, notice of motion or other application to or by any of said courts or a judge thereof being served within or without such court’s jurisdiction by registered mail or by personal service, provided a reasonable time for appearance is allowed (but not less than the time otherwise afforded by any law or rule), and waives any right to contest the appropriateness of any action brought in any such court based upon lack of personal jurisdiction, improper venue or forum non conveniens.  

This Note shall inure to the benefit of Holder’s successors and assigns.

Executed as an instrument under seal, as of the date first above written.

MAKER:

WITNESS:

Northsight Capital, Inc.

_____________________________________

/s/ John P. Venners                                 

Witness

By: John P. Venners, EVP, Operations

Print Name: ___________________________

2

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