July 20, 2004 (August 4th, 2004)
This Third Amended Binding Letter Agreement (this Agreement) sets forth the terms and conditions upon which HFS Minor Planet Funding LLC and other accredited investors represented by HFS (collectively referred to as HFS) shall provide convertible financing to Remote Dynamics, Inc., a Delaware corporation (RDI) as more specifically set for the below herein (the Transaction).
Convertible Promissory Note (August 4th, 2004)
FOR VALUE RECEIVED, the undersigned, Remote Dynamics, Inc., a corporation organized under the laws of the State of Delaware with a principal address of 1155 Kas Drive, Suite 100, Richardson, Texas, 75081 (Maker), hereby promises to pay to the order of HFS Minor Planet Funding LLC or its designees, with a principal address of 7918 Jones Branco Drive, Suite 600, McLean, Virginia, 22102 (collectively referred to as Payee), the principal sum of Two Million and No/100 Dollars ($2,000,000.00) in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts, together with interest on the unpaid principal balance at the rate hereinafter provided, on July 20, 2007 (the Maturity Date). This promissory note (this Note) is being executed and delivered by Maker pursuant to that certain Third Amended Binding Letter Agreement between Maker and Payee dated July 20, 2004 (the Letter Agreement).