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Re: Forbearance Agreement dated May 5, 2009

Default Notice Forbearance Agreement

Re:
Forbearance Agreement dated May 5, 2009 | Document Parties: MOBILEPRO CORP You are currently viewing:
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Title: Re: Forbearance Agreement dated May 5, 2009
Date: 6/5/2009
Industry: Communications Equipment     Sector: Technology

Re:
Forbearance Agreement dated May 5, 2009, Parties: mobilepro corp
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EXHIBIT 10.1

 

 

YA GLOBAL INVESTMENTS, L.P.

101 Hudson Street, Suite 3700

Jersey City, NJ 07302

 

June 2, 2009

 

MobilePro Corp.

401 Professional Drive, Suite 128

Gaithersburg, MD 20879

Attention: Jay Wright, CEO

 

 

Re:

Forbearance Agreement dated May 5, 2009

 

Dear Mr. Wright:

 

Reference is made to that certain forbearance agreement (the “ Forbearance Agreement ”) dated as of May 5, 2009 among YA Global Investments, L.P., (“ YA Global ”), MobilePro Corp. (the “ Company ”), and each subsidiary and affiliate of the Company  listed on Schedule I attached thereto.  Capitalized terms used herein and not otherwise defined herein shall have the meanings set forth in the Forbearance Agreement.

 

As you are aware, in accordance with the terms of the Forbearance Agreement, the Forbearance Period terminates on June 1, 2009, and if the Obligations are not then repaid, YA Global may immediately commence the enforcement of its rights and remedies under the Forbearance Agreement, the Transaction Documents, and/or applicable law as a result of the maturity


 
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