EXHIBIT 10.25.1
AMENDMENT TO
CONVERTIBLE TERM
NOTE
This Amendment to the Convertible
Term Note and Amendment to the Loan Agreement (the
“Amendment”) is entered into as of this 5
th
day of January, 2006 by
and between DPAC Technologies Corp, a California corporation
(“Borrower”), and Development Capital Ventures, L.P., a
Small Business Investment Company, licensed by the U.S. Small
Business Administration pursuant to the Small Business Investment
Act of 1958, as amended (“Lender”).
RECITALS
WHEREAS, the parties entered into
that certain Loan Agreement as of August 5, 2005 (the
“Loan Agreement”), whereby Lender made a term loan to
Borrower in the amount of $500,000 which loan is evidenced by the
Convertible Term Note as of August 5, 2005 (the
“Note”).
WHEREAS, the Note provides for a
“Maturity Date” on which the loan is due and payable of
February 3, 2006.
WHEREAS, Lender is willing to extend
“Maturity Date” of the Note in exchange for the
consideration set forth herein so as to allow Borrower additional
time to repay the Loan or have the Loan converted pursuant to its
terms.
WHEREAS, the parties desire to
hereby amend the Loan Agreement and the Note to reflect the
foregoing.
NOW THEREFORE, in consideration of
the mutual covenants and agreements set forth herein, and for other
good and valuable consideration, the receipt and
sufficie
