FIRST AMENDMENT
TO NOTE AND SECURITY AGREEMENT
THIS FIRST AMENDMENT ( THE
“FIRST AMENDMENT”) DATED OCTOBER 31, 2008 TO NOTE
AND SECURITY AGREEMENT (THE “AGREEMENT”) DATED AS OF
AUGUST 28, 2008 BETWEEN NON-INVASIVE MONITORING SYSTEMS, INC.
(“BORROWER”) AND THE UNDERSIGNED LENDERS
(“LENDERS”).
RECITALS
WHEREAS , Borrower and Lenders
(collectively, the “Parties”) are parties to the
Agreement which became effective on August 28, 2008; and
WHEREAS, the Borrowers and
Lenders desire to amend the Agreement to extend the Maturity Date
(as defined in the Agreement) from October 31, 2008 until
November 30, 2008.
NOW THEREFORE , in
consideration of the mutual covenants and promises contained in the
Agreement and this First Amendment and other good and valuable
consideration, the receipt and sufficiency of which are hereby
acknowledged, Borrower and Lenders agree as follows:
AMENDMENT
1. Extension of Maturity
Date. Section 3 of the Agreement is hereby amended and
restated in its entirety as follows:
Payments of Obligations, including Principal and Interest .
The principal amount of the Loan evidenced hereby, together with
any accrued and unpaid interest, and an
