AMERICAN TONERSERV CORP. 10% CONVERTIBLE NOTE DUE JULY 31, 2011American Tonerserv Corp. • April 12th, 2010 • Services-computer programming, data processing, etc. • New York
FOR VALUE RECEIVED, American Tonerserv Corp., a Delaware corporation (the “Company”), hereby promises to pay to the order of Galt Asset Management LLC or registered assigns (the “Holder”), the principal amount of _____________ ($_______) on July 31, 2011 (the “Maturity Date”). Interest on the outstanding principal balance shall be paid at the rate of ten percent (10%) per annum, payable on the last day of March, June, September and December, commencing on March 31, 2010, with any accrued interest being paid on the Maturity Date. Interest shall be computed on the basis of a 360-day year, using the number of days actually elapsed. This Note is issued pursuant to that certain Note Purchase Agreement (the “Agreement”), dated January 12, 2010, by and among the Company and Galt Asset Management LLC (“Galt”). All terms defined in the Agreement and used in this Note shall have the same meaning in this Note as in the Agreement. This Note is issued in respect of a loan made by Galt to the Compan
SECURITY AGREEMENTSecurity Agreement • April 12th, 2010 • American Tonerserv Corp. • Services-computer programming, data processing, etc. • New York
SECURITY AGREEMENT dated as of the 12th day of January, 2010, by and among American Tonerserv Corp., a Delaware corporation (the “Company”), Optima Technologies, LLC and NC TonerServ, LLC, both Delaware limited liability companies and wholly-owned subsidiaries of the Company (collectively, the “Guarantors” and each, individually, a “Guarantor”), and Galt Asset Management LLC, a Delaware limited liability company (“Secured Party”).
NOTE PURCHASE AGREEMENTNote Purchase Agreement • April 12th, 2010 • American Tonerserv Corp. • Services-computer programming, data processing, etc. • New York
This note purchase agreement made and entered into this 12th day of January, 2010, by and between American Tonerserv Corp., a Delaware corporation (the “Company”), and Galt Asset Management LLC (“Galt”).
