Fund.com Inc.
9% UNSECURED PROMISSORY NOTE
FOR VALUE RECEIVED, the adequacy of
which is hereby acknowledged, Fund.com Inc., a company organized
under the laws of the State of Delaware (the “ Company
”), hereby promises unconditionally to pay to IP Global
Investors Ltd., with an address of 170 Harrison Avenue, Harrison NY
10528 (including any successor or permitted transferee hereunder,
the “ Holder ”) in lawful money of the United
States of America (“ Dollars ” or “
US$ ”) and in immediately available funds, the
principal sum of THREE HUNDRED TWENTY-FIVE THOUSAND AND 00/100
DOLLARS (US$325,000) on the 30 th Business Day immediately following demand for
such payment delivered in accordance with Section 6 bnelow, and to
pay interest on such principal amount of this Unsecured Promissory
Note (the “ Note ”). Capitalized
terms used but not otherwise defined herein have the respective
meanings given to such terms below.
1. Principal
. Promptly following the payment in full of this Note,
the Holder shall surrender this Note to the Company for
cancellation.
2. Interest .
Interest on the Note shall accrue at a rate of 9 percent (9%) per
annum from the date of this Note. Interest shall be
payable upon payment of the principal hereof. Interest
shall be computed on the basis of a 360-day year applied to actual
days elapsed.
3. Payments
. All payments to be made by the Company in respect of
this Note shall be made in U.S. Dollars by wire transfer to an
account designated by the Holder by written notice to the
Company. I.
4. Definitions
. The following terms shall have the meanings set forth
below:
“ Business Day
” means a day other than Saturday, Sunday, or any day on
which the banks located in the State of New York are authorized or
obligated to close.
5. Binding
Effect . All terms and conditions of this Note and
all covenants of the Company in this Note shall be binding upon the
Company and its successors and permitted assigns. This
Note shall inure to the benefit of the Holder and its successors
and assigns, and any subsequent holder of this Note.
6. . Notices
. Any notice, demand, offer, request or other
communication required or per
