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FIFTH ALLONGE TO 10% CONVERTIBLE NOTE

Convertible Promissory Note

FIFTH ALLONGE TO 10% CONVERTIBLE NOTE | Document Parties: RAPID LINK INC You are currently viewing:
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RAPID LINK INC

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Title: FIFTH ALLONGE TO 10% CONVERTIBLE NOTE
Date: 9/20/2006
Industry: Communications Services    

FIFTH ALLONGE TO 10% CONVERTIBLE NOTE, Parties: rapid link inc
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                                                                 EXHIBIT 10.1


  THE SECURITY REPRESENTED HEREBY HAS NOT BEEN REGISTERED UNDER THE UNITED
  STATES SECURITES ACT OF 1933, AS AMENDED (THE "SECUTITIES ACT"). THE HOLDER
  HEREOF, BY PURCHASEING SUCH SECURITY AGREES FOR THE BENEFIT OF THE ISSUER
  THAT SUCH SECURITY MAY BE OFFERED, SOLD OR OTHERWISE TRANSFERRED ONLY (A)
  PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT AND
  ANYAPPLICABLE STATE SECURITIES LAWS, OR (B) IF REGISTERED UNDER THE
  SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

                               FIFTH ALLONGE TO
                             10% CONVERTIBLE NOTE

      This fifth allonge (this "Agreement") to that certain 10% Convertible
  Note dated October 25, 2001 of Dial-Thru International Corporation, a
  Delaware corporation (the "Company"), in favor of John Jenkins ("Jenkins"),
  in the original principal amount of $1,745,957 (the "Original Note"), is
  made as of this 14th day of September, 2006 by and between the Company and
  Jenkins.

                                   RECITALS
                                   --------

      1     Two additional loan amounts were added to the balance $102,433 and
           $300,000 respectively as of November 1, 2002
      2     The second allonge establishes October 24, 2003 as the Maturity
           Date of the Original Note
      3     The Company and Jenkins amended the Original Note to extend the
           Maturity Date to February 24, 2004.
      4     The Company and Jenkins have agreed to amend the Original Note, as
           amended, to extend the Maturity Date to February 28, 2008
      5     The Company and Jenkins have agreed to amend the Original Note, as
           amended to transfer $901,688 of interest owed to the principal
           balance of the note. The new Balance as of July 31, 2006 will be
           $1,901,688.

                                  AGREEMENT
                                  ---------

      NOW, THEREFORE, in consideration of the foregoing recitals and the
  covenants and agreements contained herein, the parties, intending to be
  legally bound, agree as follows:

      1.    Amendment to Initial terms of Note. The first sentence of the
           Original Note, is hereby amended to read in its entirety as
           follows:

           "Dial-Thru International Corporation, a Delaware corporation
           (together with its successors, the "Company"), for value received
           hereby promises to pay John Jenkins, (the "Holder") and registered
           assigns, the principal sum of $1,901,688 or, if less, the
           pr


 
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