WAIVER AND CONSENTWaiver and Consent • May 15th, 2007 • Digital Recorders Inc • Communications equipment, nec
This WAIVER (this “Waiver”), dated as of April 30, 2007, is entered into by and between by and between Digital Recorders, Inc., a North Carolina corporation (the “Company”), Twinvision of North America, Inc., a North Carolina corporation (“Twinvision”), Digital Audio Corporation, a North Carolina corporation (“DAC”), and Robinson-Turney International, Inc., a Texas corporation (“RTI” and together with the Company, Twinvision and DAC, the “Credit Parties” and each a “Credit Party”) and Laurus Master Fund, Ltd., a Cayman Islands company (the “Purchaser”), for the purpose of amending and amending and restating and waiving certain terms of that certain Security Agreement, dated as of March 15, 2006 (the “Initial Closing Date”), by and between the Credit Parties and Purchaser (as amended, modified or supplemented from time to time, the “Security Agreement”); that certain Secured Non-Convertible Revolving Note, dated March 15, 2006 made by the Company in favor of Purchaser for the total prin
SHARE PURCHASE AGREEMENTShare Purchase Agreement • May 15th, 2007 • Digital Recorders Inc • Communications equipment, nec • New York
THIS SHARE PURCHASE AGREEMENT, dated as of April 30, 2007 (this “Agreement”), is entered into by and among DOLPHIN DIRECT EQUITY PARTNERS, LP, a Delaware limited partnership (“Buyer”); DIGITAL AUDIO CORPORATION, a North Carolina corporation (“Company”), and DIGITAL RECORDERS, INC., a North Carolina corporation (“Seller”).
