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AMENDED REVOLVING CREDIT PROMISSORY NOTE

Revolving Credit Agreement

AMENDED REVOLVING CREDIT PROMISSORY NOTE | Document Parties: RX SCRIPTED, INC. You are currently viewing:
This Revolving Credit Agreement involves

RX SCRIPTED, INC.

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Title: AMENDED REVOLVING CREDIT PROMISSORY NOTE
Date: 5/11/2009

AMENDED REVOLVING CREDIT PROMISSORY NOTE, Parties: rx scripted  inc.
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Exhibit 10.4

AMENDED REVOLVING CREDIT PROMISSORY NOTE

 

US $37,500

March 18, 2009,

 

w ith an effective date

 

of September 7, 2007

 

FOR VALUE RECEIVED , the undersigned, RX Scripted, Inc., a Nevada corporation, which has a business address of 201 Creekvista Drive, Holly Springs, North Carolina 27540 ("Maker"), hereby promises to pay to the order of Kevin McAdams, an individual, whose address is 201 Creekvista Drive, Holly Springs, North Carolina 27540 ("Payee"), the principal sum of Thirty-Seven Thousand Five Hundred Dollars ($37,500), or such lesser amount as shall be advanced by Payee from time to time, of which $30,700 has been loaned to date and $6,800 will be available under the terms of this revolving credit note.  Maker shall pay Payee in lawful money in United States of America, which shall be legal tender, bearing interest at 4% per annum on the unpaid balance of such amount from the date of the initial revolving credit advance and payable as provided herein.  This Amended Revolving Credit Promissory Note (the “Note”) amends and replaces that certain Revolving Credit Promissory Note dated as of December 12, 2007, and has an effective date of September 7, 2007.

 

The unpaid principal balance, including any unpaid and accrued interest, shall at no time exceed the sum of Twenty Five Thousand and No/100 Dollars ($25,000.00).  The unpaid principal balance of this Note at any time shall be the total amounts loaned or advanced hereunder by Payee, less the amount of payments or prepayments of principal made hereon by or for the account of Maker. It is contemplated that by reason of prepayments hereon, there may be times when no indebtedness is due hereunder; but notwithsta


 
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