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EXHIBIT 4.1
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EIGHT PERCENT (8%) PROMISSORY NOTE
by and between NewMarket Technology, Inc., as Borrower
and
Glenwood Partners, L.P., as Lender
Dated as of March 9, 2005
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<PAGE>
PROMISSORY NOTE
Raleigh, North Carolina U.S.A
U.S.$850,000.00
March 9, 2005
Parties; Amount
FOR VALUE RECEIVED, the undersigned, NewMarket Technology, Inc.,
a Nevada
corporation with offices at 14860 Montfort Drive, Suite 210,
Dallas, Texas
75254 ("NewMarket") promises to pay to the order of Glenwood
Partners,
L.P., a North Carolina limited partnership ("Lender"), with
offices at 510
Glenwood Avenue, Suite 607, Raleigh, North Carolina 27603, the
principal
sum of Eight Hundred Fifty Thousand and no/100 United States
dollars
(US$850,000.00).
Interest Rate
Interest shall accrue on the outstanding balance of this note
beginning on
March 9, 2005, until the note is paid in full, at a rate of
eight percent
(8%) per annum, except as otherwise stated herein. All interest
due shall
be paid on the Due Date (defined below), or on the date that
the
outstanding principal amount of this note is paid in full,
whichever is
earlier.
Payment Schedule
The outstanding principal amount of this note shall be due and
payable in
full on or before March 31, 2005 (the "Due Date").
Default
If any of the following events shall occur, the outstanding
principal
balance of this note together with accrued interest thereon
shall, on
demand by the holder of this note, be due and payable: any
amount owing
under this note is not paid when due; a default under any other
provision
of this note or under any other agreement providing security for
the
payment of this note; a breach of any representation or warranty
under this
note or under any such other agreement; failure to timely file
any periodic
report with the SEC or required filing with the State of Nevada
or any
other state; the liquidation or dissolution or NewMarket; the
sale of a
material portion of the business and assets of NewMarket or any
subsidiary
of NewMarket; the filing of a petition under any bankruptcy,
insolvency or
similar law by NewMarket or any subsidiary of NewMarket; the
making of any
assignment for the benefit of creditors by NewMarket or any
subsidiary of
NewMarket; the filing of a petition under any bankruptcy,
insolvency or
similar law against NewMarket or any subsidiary of NewMarket and
such
petition not being dismissed within a period of thirty (30) days
of the
filing. In each of the above cases, the holder shall give
written notice of
default to NewMarket, and NewMarket shall have five (5) days to
cure any
such default without penalty, and if cured, then this note shall
no
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