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FIRST AMENDMENT TO SECURITY AGREEMENT

Security Agreement

FIRST AMENDMENT TO SECURITY AGREEMENT | Document Parties: LEGEND MEDIA, INC. | RMK Emerging Growth Opportunity Fund LP | Well Chance Investments Limited You are currently viewing:
This Security Agreement involves

LEGEND MEDIA, INC. | RMK Emerging Growth Opportunity Fund LP | Well Chance Investments Limited

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Title: FIRST AMENDMENT TO SECURITY AGREEMENT
Date: 8/28/2008

FIRST AMENDMENT TO SECURITY AGREEMENT, Parties: legend media  inc. , rmk emerging growth opportunity fund lp , well chance investments limited
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FIRST AMENDMENT TO

SECURITY AGREEMENT

 

This FIRST AMENDMENT TO SECURITY AGREEMENT (this " Amendment "), effective as of June 30, 2008, is made by and between Well Chance Investments Limited, a company incorporated in the British Virgin Islands (the " Company "), and RMK Emerging Growth Opportunity Fund LP, a Delaware limited partnership (the " Lender ").

 

WHEREAS, on January 31, 2008, the Company entered into a Security Agreement (the " Security Agreement ") with the Lender to secure the loan (the " RMK Loan ") made under a Loan Agreement with the Lender (the " Loan Agreement "); and

 

WHEREAS, subsequent to executing the Loan Agreement, the parties determined that the aggregate amount for the RMK Loan should be 375,733.15, consisting of an Initial Loan of $175,733.15, and an Additional Loan of up to $200,000, which is consistent with the outstanding balance as of March 31, 2008.

 

NOW, THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto hereby agree as follows:

 

1.    Defined Terms . Capitalized terms used but not defined herein have the meanings assigned to them in the Loan Agreement.

 

2.    Amendment of Recitals . The first WHEREAS clause in the Security Agreement is hereby deleted in its entirety and replaced by the follo


 
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