THIS CONVERTIBLEPROMISSORYNOTEANDTHESECURITIESINTOWHICHTHIS NOTEISCONVERTIBLEHAVENOTBEENREGISTEREDUNDERTHESECURITIES ACTOF1933,ASAMENDED,ORANYSTATESECURITIESLAWSANDTHIS CONVERTIBLENOTE,THESECURITIESANDANYINTERESTTHEREINMAYNOTBE OFFERED,SOLD,TRANSFERRED,PLEDGEDOROTHERWISEDISPOSEDOFEXCEPT PURSUANTTOANEFFECTIVEREGISTRATIONSTATEMENTUNDERSUCHACTOR SUCHLAWSORANEXEMPTIONFROMREGISTRATIONUNDERSUCHACTAND SUCHLAWS,WHICH,INTHEOPINIONOFCOUNSELFORTHELENDER,WHICH COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO COUNSEL FOR THISCORPORATION,ISAVAILABLE.
CONVERTIBLE PROMISSORYNOTE
| $11,500.00 | Rancho Palos Verdes, CA | |
| Issue Date: December 10,2013 |
FOR VALUERECEIVED,theundersigned,NXYIO Technologies,Inc., a Nevadacorporation (referredtohereinasthe“Borrower”orthe“Company”),hereby unconditionallypromisesto paytotheorderof Tide Pool Ventures Corporation itsendorsees,successorsandassigns(the“Lender”), inlawfulmoneyoftheUnitedStates,atsuchaddressastheLendermayfromtimetotime designate,theprincipalsumof ElevenThousand Five HundredDollars ($11,500.00)(the“Loan”), This ConvertiblePromissoryNote(the“Note”)shallmatureandbecomedueandpayableinfullOne (1)yearfromtheIssueDate, which is December 10, 2014 (the“MaturityDate”).
1. TermsofRepayment. Principal ofandinterestonthisNoteshallbepaidbythe Borrowerasfollows:
(a) OntheMaturityDate,Borrowershallpayallprincipalandinterest,unlessotherwise converted(asdefined inSection2.below).InterestshallaccrueatarateofNinePointEight SevenFive Percent (9.875%)persemi-annum.
(b) TheBorrowerfurtheragreesthat,ifanypaymentmadebytheBorroweroranyotherperson isappliedtothisNoteandisatanytimeannulled,setaside,rescinded,invalidated,declaredto befraudulentorpreferentialorotherwiserequiredtoberefundedorrepaid,ortheproceedsof anypropertyhereafterpledgedassecurityforthisNoteisrequiredtobereturnedbyLenderto theBorrower,itsestate,trustee,receiveroranyotherparty,including,withoutlimitation, under anybankruptcylaw,stateorfederallaw,commonlaworequitablecause,then,totheextentof suchpaymentorrepayment,theBorrower’sliabilityhereunder (andanylien,securityinterestor othercollateralsecuringsuchliability)shallbeandremaininfullforceandeffect,asfullyasif suchpaymenthadneverbeenmade,or,ifpriortheretoanysuchlien,securityinterestorother collateralhereundersecuringtheBorrower’sliabilityhereunder shallhavebeenreleasedor terminatedbyvirtueofsuchcancellationorsurrender,thisNote(andsuchlien,security interest or other collateral) shall be reinstated in full force and effect, and such prior cancellation or surrender shallnot diminish,release, discharge,impair orotherwise affectthe obligationsof the Borrowerin respect to the amount of such payment (orany lien, security interest or other collateral securing such obligation).
| 2. | Conversion. |
(a) TheLendershallhavetherighttoconvertatanytimeorfromtimetotime,beginningOne HundredEighty(180)daysafterthefundingoftheNoteanyoralloftheoutstandingbalanceof thisNoteintofully-paidandnon-assessablesharesofBorrower’sCommonStock(the “ConversionShares”)at ThirtyPercent(30%)discounttothe“FairMarketValue”(the “ConversionRate”).“Fair MarketValue”onadateshallbethelowestvolumeweightedaverage price(“VWAP”)ofthelastFive(5)tradingdays.
(b) InnoeventshalltheLenderbeentitledtoconvertanyportionofthisNoteinexcessofthat portionofthisNoteuponconversionofwhichthesumof(1)thenumberofsharesofCommon StockbeneficiallyownedbytheLenderanditsaffiliates(otherthansharesofCommonStock whichmaybedeemedbeneficiallyownedthroughtheownershipoftheunconvertedportionof theNotesortheunexercisedorunconvertedportionofanyothersecurityoftheBorrower subjecttoalimitationonconversionorexerciseanalogoustothelimitationscontainedherein) and (2)thenumberofsharesofCommonStockissuableupontheconversionoftheportionof thisNotewithrespecttowhichthedeterminationofthisprovisoisbeingmade,wouldresultin beneficialownershipbytheHolderanditsaffiliatesofmorethanFourPointNineNinePercent (4.99%)oftheoutstandingsharesofCommonStock,suchownershiplimitationmaybe increased to Nine Point Nine Percent (9.9%) at the option of the Holder upon Sixty-Five (65) days’ noticeto theLender.Forpurposesoftheprovisototheimmediatelyprecedingsentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities ExchangeActof1934,asamended(the“ExchangeAct”),and Regulations13D-Gthereunder, except as otherwise provided in clause (1) of such proviso.
(c) SurrenderofNoteNotRequired.TheLendershallnotberequiredtophysicallysurrender thisNotetotheBorroweruponanyconversionhereunderunlessthefulloutstandingPrincipal Amount representedbythisNoteisbeingconvertedorrepaid.TheLenderandBorrowershall maintainrecordsshowingtheoutstandingPrincipalAmountsoconvertedandrepaidandthe datesofsuchconversionsorrepaymentsorshallusesuchothermethod,reasonablysatisfactory totheLenderandtheBorrower,soasnottorequirephysicalsurrenderofthisNoteuponeach suchconversionor repayment.Toexercise anyconversion,the holder ofthisNote shallsubmita written notice in the form attached hereto as Exhibit A, Notice of Conversion, and made a part hereof.
(d) UponreceiptbytheBorrowerofaNoticeofConversionofthisNotebytheLender,the BorrowershalldeliverorcausetobedeliveredtotheLender,certificatesforthefullnumberof SharesissuableuponconversionofthisNote,inaccordancewiththeprovisionshereof,within Five(5)businessdaysofreceiptoftheNoticeofConversionandinnoeventafterTen(10) businessdaysaftersuchreceipt(hereinafterreferredtoasthe“Deadline”).Suchconversion shall bedeemedtohavebeenmadeatthetimethatthisNotewassurrenderedforconversionandthe noticespecifiedhereinshallhavebeenreceivedbytheBorroweraslongasitisreceivedby6pm easterntime.UponreceiptbytheBorrowerofaNoticeofConversion,theoutstandingprincipal amountand theamountofaccruedandunpaidinterestonthisNoteshallbereducedtoreflect
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such conversion,and,unlessBorrowerdefaultsonitsobligationsunderthisNote,all rightswith respecttotheportionoftheNotesobeingconvertedshallforthwithterminateexcepttherightto receivethecommonstockorothersecurities,cashorotherassets,asprovidedhereinonsuch conversion.IftheLenderhasgivenaNoticeofConversionasprovidedherein,theBorrower’s obligationto issueanddeliverthecertificatesforcommonstockshallbeabsoluteand unconditional,irrespectiveoftheabsenceofanyactionbytheLendertoenforcethesame,any waiverorconsentwithrespecttoanyprovisionthereof,therecoveryofanyjudgmentagainst anypersonoranyactiontoenforcethesame,anyfailureordelayintheenforcementofany otherobligationof theBorrower tothe holderof record, or anysetoff,counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Lender of any obligation to the Borrower;andirrespectiveofanyothercircumstanceswhichmightotherwiselimitsuch obligationoftheBorrowertotheLenderinconnectionwithsuchconversion.TheBorrower’s signature shall not be required for a conversion under this Note tobe effective.
(e) The number of shares issuable upon conversion of this Note or repayment by the Borrower in shares shallbeproportionatelyadjustediftheBorrowershalldeclareadividendofcapitalstock onitscapitalstock,orsubdivideitsoutstandingcapitalstockintoalargernumberofsharesby reclassification,stocksplit orotherwise,whichadjustmentshallbemadeeffectiveimmediately after therecorddate inthecaseofadividend,andimmediatelyaftertheeffectivedateinthecase ofasubdivision.ThenumberofsharesissuableuponconversionofthisNoteoranypartthereof shallbeproportionately adjustedintheamountofsecuritiesforwhichtheshareshavebeen changedorexchangedinanothertransactionforotherstockorsecurities,cashand/oranyother propertypursuanttoamerger,consolidationorothercombination.TheBorrowershallpromptly providetheholderofthisNotewithnoticeofanyeventsmandatinganadjustmenttothe conversionratio,orforanyplannedmerger,consolidation,shareexchangeorsaleofthe Borrower,signedbythePresidentandChiefExecutiveOfficerofBorrower.
3. FeesandRequirementsforFunding. None
4. LiabilityoftheBorrower.TheBorrowerisunconditionally,andwithoutregardtothe liabilityofanyotherperson,liableforthepaymentandperformanceofthisNoteandsuch liabilityshallnotbeaffectedbyanextensionoftime,renewal,waiver,ormodificationofthis Noteortherelease,substitution,oradditionofcollateralforthisNote.Eachpersonsigningthis Noteconsentstoanyandallextensionsoftime,renewals,waivers,ormodifications,aswellas torelease,substitution,oradditionofguarantorsorcollateralsecurity,withoutaffectingthe Borrower'sliabilitieshereunder.
5. RepresentationsandWarranties.TheBorrower representsandwarrantsasfollows:(i) theBorrowerisacorporationdulyorganized,validlyexistingandingoodstandingunderthe laws ofthe State ofNevada; (ii) the execution, delivery and performance by theBorrower ofthis NotearewithintheBorrower'spowers,havebeendulyauthorizedbyallnecessaryaction,and donotcontravene(A)theBorrower'scertificateofincorporationor(B)bylawsor(x)anylawor (y) anyagreementordocumentbindingonoraffectingtheBorrower,nototherwisedisclosedto theLenderpriortoexecutionofthisNote,(iii)noauthorizationorapprovalorotheractionby, andnonoticetoorfilingwith,any governmentalauthority,regulatory bodyorthirdpersonis requiredforthedueexecution,deliveryandperformancebytheBorrowerofthisNote;(iv)this Note constitutes the legal, valid and binding obligation of the Borrower, enforceable against the Borrowerinaccordance withitstermsexceptasenforcementhereofmaybelimitedby bankruptcy,insolvency orothersimilarlawsaffectingtheenforcementofcreditors'rights generallyandsubjecttotheapplicabilityofgeneralprinciplesofequity;(v)theBorrowerhasall requisite power and authority to own and operate its property and assets and to conduct its business as now conducted and proposed to be conducted and to consummate the transactions contemplated hereby; (vi) the Borrower is duly qualified to conduct its business and is in good standingineach jurisdictioninwhichthecharacterofthepropertiesownedorleasedbyit,orin which the transaction of its business makes such qualification necessary; (vii) the Borrower is not in violation or default ofanyprovision of(A) its certificate ofincorporation or by-laws, each as currently in effect, or (B) any instrument, judgment, order, writ, decree or contract, statute, ruleorregulationtowhichtheBorrowerissubjectnototherwisedisclosedtotheLenderpriorto the execution of this Note, and (viii) this Note is validly issued, free of any taxes, liens, and encumbrances related to the issuance hereof and is not subject to preemptive right or other similar right of members of the Borrower.
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6. Covenants.Solong asanyprincipalorinterestisduehereunderandshallremainunpaid, theBorrowerwill,unlesstheLendershallotherwiseconsentinwriting:
(a) Maintainandpreserveitsexistence,rightsandprivileges;
(b) Not(i)directlyorindirectlysellorotherwisedisposeofsubstantiallyallofitspropertiesand assets,intheaggregate,toanyperson(s)orcompany,whetherinonetransactionorinaseriesof transactionsoveranyperiodoftime,or(ii)adoptanyplanorarrangementforthedissolutionor liquidationoftheBorrower;
(c) GivewrittennoticetoLenderupontheoccurrenceofanEventofDefault(asdefinedbelow) oranyeventbutforthegivingofnoticeorlapseoftime,orboth,wouldconstituteanEventof DefaultwithinFive(5)BusinessDaysofsuchevent;
(d) NotusetheproceedsfromtheissuanceofthisNoteinanywayforanypurposethatentailsa violationof,orisinconsistentwith,RegulationUoftheBoardofGovernorsoftheFederal ReserveSystemoftheUnitedStatesofAmerica.
(e) Complyinallmaterialrespectswithallapplicablelaws(whetherfederal,stateorlocaland whetherstatutory.administrativeorjudicialorother)andwitheveryapplicablelawful governmentalorder (whetheradministrativeorjudicial);
(f) Notmakeanyadvanceorloantoanyperson,firmorcorporation,exceptforreasonabletravel orbusinessexpensesadvancedtotheCompany’semployeesorindependentcontractorsinthe ordinarycourseofbusiness;
(g) Notprepayanyindebtedness,exceptfortradepayablesincurredintheordinarycourseofthe Borrower’sbusiness;and
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(h) MaintaindisclosureofCurrentPublicInformationasthattermisdefinedinRule144(c)of theSecuritiesAct,includingproperdisclosureofthisNoteasrequiredinitsnextquarteror annualfiling.
7. EventsofDefault. Each andanyofthefollowingshallconstituteadefaultand,after expirationofagraceperiodwhichshallbeThirty(30)BusinessDays,shallconstitutean“Event ofDefault” hereunder:
(a) thenonpaymentofprincipal,latechargesoranyothercostsorexpensespromptlywhendue ofanyamountpayableunderthisNoteorthenonpaymentbytheBorrowerofanyother obligationtotheLender;
(b) the BorrowerfailstoissuesharesofCommonStocktotheLender (orannouncesorthreatens inwritingthatitwillnothonoritsobligationtodoso)uponexercisebytheLenderofthe conversionrightsoftheLenderinaccordancewiththetermsofthisNote,failstotransferor causeitstransferagenttotransfer(issue)(electronicallyorincertificatedform)anycertificate forsharesofCommonStockissuedtotheLenderuponconversionoforotherwisepursuantto thisNoteasandwhenrequired bythisNote,theBorrowerdirectsitstransferagentnotto transferordelays,impairs,and/orhindersitstransferagentintransferring(orissuing) (electronicallyorincertificatedform)anycertificateforsharesofCommonStocktobeissued totheLender uponconversion of orotherwise pursuantto thisNote asandwhen requiredby this Note, or fails to remove (or directs its transfer agent not to remove or impairs, delays, and/or hinders its transfer agent from removing) any restrictive legend (or to withdraw any stop transfer instructionsinrespectthereof)onanycertificateforanysharesofCommonStockissuedtothe Lender upon conversion of or otherwise pursuant to this Note as and when required by this Note (or makes any written announcement, statement or threat that it does not intend to honor the obligationsdescribedinthisparagraph)andanysuchfailureshallcontinueuncured(orany written announcement, statement or threat not to honor its obligations shall not be rescinded in writing) without a valid legal reason for Five (5) business days after the Lender shall have delivered a Notice of Conversion.
(c) ifBorrowershallcommenceanycase,proceedingorotheraction:(i)underanyexistingor futurelawofanyjurisdiction,domesticorforeign,relatingtobankruptcy,insolvency, reorganizationor reliefofdebtors,seekingtohaveanorderforreliefenteredwithrespecttoit, orseekingtoadjudicateitbankruptorinsolvent,orseekingreorganization,arrangement, adjustment,liquidation,dissolution,composition orotherreliefwithrespecttoitoritsdebts;or
(ii) seekingappointmentofareceiver,trustee,custodianorothersimilarofficialforitorforall
or anysubstantialpartofitsproperty,ortheBorrowershallmakeageneralassignmentforthe benefitofitscreditors;or(iii)thereshallbecommencedagainsttheBorroweranycase, proceedingorotheractionofanaturereferredtoaboveorseekingissuanceofawarrantof attachment,execution,distraint orsimilarprocessagainstalloranysubstantialpartofits property,whichcase,proceedingorotheractionresultsintheentryofanyorderforreliefor remainsundismissed,undischargedorunbondedforaperiod ofSixty(60)days;or(iv)the Borrowershalltakeanyactionindicatingitsconsentto,approvalof,oracquiescencein,orin
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furtherance of,anyoftheactssetforth;or(v)theBorrowershallgenerallynot,orshallbe unableto,payitsdebtsastheybecomedueorshalladmitinwritingitsinabilitytopayitsdebts;
(d) anyrepresentationorwarrantymadebytheBorroweroranyotherpersonorentityunderthis NoteorunderanyotherLoanDocumentsshallprovetohavebeenincorrectinanymaterial respectwhenmade;
(e) theentryofanyjudgmentagainstBorroweroranyofitspropertyforanamountinexcessof TwoHundredFiftyThousandDollars($250,000.00)thatremainsunsatisfiedforThirty(30) days;
(f) thesaleofallorsubstantiallyalloftheassets,orchangeinownershiporthedissolution, liquidation,consolidation, orreorganizationofBorrowerwithouttheLender'spriorwritten notice;
(g) ifBorrowershall failtomaintaindisclosureofCurrentPublicInformationasthattermis definedinRule144(c)oftheSecuritiesActof1933;
(h) theBorrower’ssharesofCommonStockaresuspendedfromtradingordelistedfromtrading ontheOvertheCounterMarketonwhichitiscurrentlylisted;and
| (i) | if theBorrowerfailstodisclosetheexistenceofthisNoteinitsnextquarterorannual filing. |
8. Lender’sRightsUpon Default. UpontheoccurrenceofanyEventofDefault,the Lendermay,atitssoleandexclusiveoption,doanyorallofthefollowing,eitherconcurrently or separately:(a)accelerate thematurityofthisNoteanddemandimmediatepaymentinfull, whereupontheoutstandingprincipalamountoftheNoteandallobligationsofBorrowerto Lender,togetherwithaccruedinterestthereonandaccruedchargesandcosts,shallbecome immediately dueandpayablewithoutpresentment,demand,protestorfurthernoticeofanykind, allofwhichareherebyexpresslywaived;and(b)exercisealllegallyavailablerightsand privileges.
9. DefaultInterestRate.UponanEventofDefaultandafternoticetoBorrowerfrom Lender,additionalinterestwillaccrueattherateequaltothelesserof(i)FivePercent(5%)per annuminadditiontotheInterestRateor(ii)thehighestratepermittedbyapplicablelaw,per annum(the“DefaultRate”), untilalloutstandingprincipal,interestandfeesarerepaidinfullby Borrower.SuchDefaultRateshallbeappliedandaccruedasofthedateofDefaultafterany applicablegraceperiods.
10. Usury.Innoeventshalltheamountofinterestpaidoragreedtobepaidhereunder exceedthehighestlawfulratepermissibleunderapplicablelaw.Anyexcessamountofdeemed interestshallbenullandvoidandshallnotinterferewithoraffecttheBorrower’sobligation to repaytheprincipalofandinterestontheNote.ThisconfirmsthattheBorrowerand,byits acceptanceofthisNote,theLenderintendtocontractinstrictcompliancewithapplicableusury lawsfromtimetotimeineffect.Accordingly,theBorrowerandtheLenderstipulateandagree thatnoneofthetermsandprovisionscontainedhereinshalleverbeconstruedtocreateacontract
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to pay,fortheuseorforbearanceofmoney,interestinexcessofthemaximumamountof interestpermittedtobechargedbyapplicablelawfromtimetotimeineffect.
11. Prepayment.TheBorrowermayprepaytheNoteincludinginterestthatwouldaccrueasoftheMaturityDateatanytime.
12. RegistrationRights.IfatanytimewhilethisNoteisissuedandoutstanding(the“Piggy- BackPeriod”)the CompanyproposestofilewiththeSECaRegistrationStatementrelatingtoan offeringforitsownaccountortheaccountofothersundertheSecuritiesActofanyofits securities(otherthanaRegistrationStatementonFormS-4orFormS-8(ortheirequivalentsat suchtime)relatingtosecuritiestobeissuedsolelyinconnectionwithanyacquisitionofany entity or business orequity securities issuablein connection withstock option orother employee benefit plans),theCompanyshallincludetheConversionSharesofCommonStockonsuch RegistrationStatement.
13. CostsofEnforcement. Borrower herebycovenantsandagreestoindemnify,defendand holdLenderharmlessfromandagainstallcostsandexpenses,includingreasonableattorneys’ feesand theircosts,togetherwithinterestthereonatthePrimeRate,incurredbyLenderin enforcingitsrightsunderthisNote;orifLenderismadeapartyasadefendantinanyactionor proceedingarisingoutoforinconnectionwithitsstatusasalender,orifLenderisrequestedto respondtoanysubpoenaorotherlegalprocessissuedinconnectionwiththisNote;orreasonable disbursements arising outofanycostsandexpenses,includingreasonableattorneys’ feesand theircostsincurredinanybankruptcycase;orforanylegalorappraisalreviews,adviceor counselperformedforLenderfollowingarequestbyBorrowerforwaiver,modificationor amendmentofthisNoteoranyoftheotherLoanDocuments.
14. GoverningLaw.ThisNoteshallbebindinguponandinuretothebenefitofthe BorrowerandtheLenderandtheirrespectivesuccessorsandassigns;providedthattheBorrower maynotassignthisNote,inwholeorinpart,byoperationoflaworotherwise,withouttheprior writtenconsentoftheLender.TheLendermayassignorotherwiseparticipateoutallorpartof, oranyinterestin,itsrightsandbenefitshereunderandtotheextentofsuchassignmentor participationsuch assigneeshall havethesamerightsandbenefitsagainsttheBorrowerasit wouldhavehadifitweretheLender.ThisNote,andanyclaimsarisingoutofrelatingtothis Note,whetherincontractortort,statutoryorcommonlaw,shallbegovernedexclusivelyby,and construedinaccordancewiththelawsoftheStateofNewYork withoutregardtoprinciplesof conflictsoflaws.
15. Jurisdiction.THEBORROWER CONSENTSTHATANYLEGALACTIONOR PROCEEDINGAGAINSTITUNDER,ARISINGOUTOFORINANYMANNER RELATINGTOTHISNOTE,ORANYOTHERINSTRUMENTORDOCUMENT EXECUTEDANDDELIVEREDINCONNECTIONHEREWITHSHALLBEBROUGHT EXCLUSIVELYINANYCOURTOFTHESTATEOFNEWYORKORINTHEUNITED STATESDISTRICT COURT FOR THESOUTHERN DISTRICTOF NEW YORK. THE BORROWER,BYTHEEXECUTIONANDDELIVERYOFTHISNOTE,EXPRESSLYAND IRREVOCABLYCONSENTS ANDSUBMITSTOTHEPERSONALJURISDICTIONOF ANY OF SUCH COURTS IN ANY SUCH ACTIONOR PROCEEDINGS. THE BORROWER
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AGREES THATPERSONALJURISDICTIONOVERITMAYBEOBTAINEDBYTHE DELIVERYOFASUMMONSBYPERSONALDELIVERYOROVERNIGHTCOURIER ATTHEADDRESSPROVIDEDINSECTION17OFTHISNOTE.ASSUMINGDELIVERY OFTHESUMMONSINACCORDANCEWITHTHISPROVISION,THEBORROWER HEREBYEXPRESSLYANDIRREVOCABLYWAIVESANYALLEGEDLACKOF PERSONALJURISDICTION, IMPROPERVENUEORFORUMNON-CONVENIENSOR ANYSIMILARBASIS.
16. Miscellaneous.(a)Borrower herebywaivesprotest,noticeofprotest,presentment, dishonor,anddemand.(b)TimeisoftheessenceforeachofBorrower’scovenantsunderthis Note.(c)TherightsandprivilegesofLenderunderthisNoteshallinuretothebenefitofits successorsandassigns.AllobligationsofBorrowerinconnectionwiththisNoteshallbind Borrower’ssuccessorsand assigns,andLender'sconversionrightsshallsucceedtoanysuccessor securitiestoBorrower’s commonstock.(d)IfanyprovisionofthisNoteshallforanyreasonbe heldtobeinvalidorunenforceable,suchinvalidity orunenforceabilityshallnotaffectanyother provisionhereof,butthisNoteshallbeconstruedasifsuchinvalidorunenforceableprovision had never been contained herein. (e) The waiver of any Event of Default or the failure of Lender toexerciseanyrightor remedytowhichit maybeentitledshallnot bedeemedawaiver of any subsequent Event of Default or Lender’s right to exercise that or any other right or remedy to which Lender is entitled. No delay or omission by Lender in exercising, or failure by Lender to exercise on anyone or more occasions, shall be construed as a waiveror novation of this Note or prevent the subsequent exercise of any or all such rights. (f) This Note may not be waived, changed, modified, or dischargedorally, butonly inwriting.
17. Notice,Etc.Any notice requiredbytheprovisionsofthisNotewillbeinwritingandwill be deemedeffectively given:(a) uponpersonal deliveryto theparty tobe notified;(b)when sent byconfirmedtelexorfacsimileifsentduringnormalbusinesshoursoftherecipient;ifnot,then onthenextbusinessday;(c)Five(5)daysafterhavingbeensentbyregisteredorcertifiedmail, returnreceipt requested,postage prepaid;or(d)One(1)dayafterdepositwithanationally recognizedovernight courier, specifyingnextdaydelivery, withwrittenverification ofreceipt, anddeliveredasfollows:
If totheBorrower:
Giorgio Johnson
Nyxio Technologies Corp.
2156 NE Broadway
Portland, OR 97232
Phone: 855-436-6996
If toLender:
Todd Violette, President
Tide Pool Ventures Corporation
28963 Palos Verdes Drive East
Rancho Palos Verdes, CA 90275
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or, astoeach party,atsuch otheraddressasshall bedesignatedby suchpartyina written noticetotheotherparties.
[SIGNATURE PAGETOFOLLOW]
[REMAINDER OFTHISPAGEINTENTIONALLYLEFTBLANK]
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IN WITNESSWHEREOF,theundersignedhasexecutedthisConvertiblePromissory Noteasofthedatefirstsetforthabove.
Nyxio Technologies Corp.
By:/s/ Authorized Signatory
Witnessed andAcknowledged:
By: /s/ Authorized Signatory
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EXHIBIT A NOTICEOFCONVERSION
(to besigneduponconversionoftheNote) To:Nyxio Technologies Inc.
The undersigned,theholderoftheforegoingNote,herebysurrenderssuchNoteforconversion intosharesofCommonStockofNyxio Technologies,Inc.,and requeststhatthecertificatesfor such shares be issued in the name of ____________, and delivered to,______________, whose address is_______________.
Dated:_____________
___________________
(signature)
___________________
___________________
(address)
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