Exhibit
10.1
DEBENTURE
MODIFICATION
AND THIRD EXTENSION
AGREEMENT
THIS AGREEMENT
is by and between Enable Holdings, Inc. (hereinafter referred to as
“Company”), and ________ (hereinafter referred to as
the “Holder”), and shall have an effective date as of
the date it is fully executed by all of the parties
hereto.
WITNESSETH:
WHEREAS,
Company previously executed a Debenture in an original principal
amount of _____________ originally dated October 31, 2008 as
extended on January 15, 2009 and April 14, 2009, copies of which
are attached hereto as Exhibit A. (hereinafter referred to as the
“Debenture”); and
WHEREAS, the
Debenture was a part of a bridge loan financing between the
Company, the Holder and several other lenders with an aggregate
principal balance currently totaling Two Million Four Hundred Fifty
Thousand ($2,450,000) (the “Bridge Loan Financing”);
and
WHEREAS, the
Company has commenced raising money for a Senior Convertible
Debenture (the “Convertible Debenture”) of up to Seven
Million Five Hundred Thousand Dollars ($7,500,000) of which an
amount of approximately One Million Three Hundred Thousand Dollars
($1,300,000) has been raised; and
WHEREAS, the
Holder herein agrees that the Debenture shall in all respects be
treated pari passu with the holders of the Convertible Debenture;
and
WHEREAS, the
Company desir
