Exhibit 10.6
February 1, 2007
Greens Worldwide
Incorporated
346 Woodland Church Road
Hertford, North Carolina 29744
Attn: William A. Conwell
Re: Waiver of Defaults under
Securities Purchase Agreements
Dear Bill:
Reference is made to that certain
Securities Purchase Agreement dated as of September 16, 2005
among Greens Worldwide Incorporated (the “Company), AJW
Partners, LLC (“AJW Partners”), AJW Offshore, Ltd.
(“AJW Offshore”), AJW Qualified Partners, LLC
(“AJW Qualified Partners”) and New Millennium Capital
Partners II, LLC (“New Millennium” and together with
AJW Partners, AJW Offshore and AJW Qualified Partners, the
“Purchasers”), that certain Securities Purchase
Agreement dated as of July 31, 2006 among the Company and the
Purchasers, that certain Securities Purchase Agreement dated as of
September 19, 2006 among the Company and the Purchasers, that
certain Letter Agreement dated as of October 13, 2006 among
the Company and the Purchasers and that certain Letter Agreement
dated as of November 20, 2006 among the Company and the
Pur
