Exhibit
10.27
NOTE EXTENSION AGREEMENT
This
Note Extension Agreement (“Agreement”) is entered
into this 20th day of December 2007, by DRTATTOFF, LLC (the
“Company”), a California limited liability
company, and each of the undersigned noteholders
(collectively, “Noteholders”).
BACKGROUND
WHEREAS
,
the Company has previously issued to the Noteholders certain
promissory notes more particularly described in
Annex A attached
hereto (collectively, “Notes”); and
WHEREAS,
the Company has requested, and each of the Noteholders has
agreed, to extend the respective maturity dates of the Notes
and waive any and all past defaults, if any.
NOW,
THEREFORE, in consideration of the foregoing, of the mutual
agreements hereinafter set forth, and of other good and
valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto hereby agree
follows:
1.
The
parties agree that the Recitals set forth above are true and
correct and are incorporated into this Agreement by
reference.
2.
Each
Noteholder hereby agrees, the maturity date (“Maturity
Date”) for each of the Notes is hereby extended to the
earlier of (a) an additional six (6) months from its
respective Maturity Date or (b) five (5) business days
fr
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