The bond signed by DIGITAL ANGEL CORPORATION f/k/a APPLIED DIGITAL SOLUTIONS, INC. (“guarantee”) as part of a guarantee of October 30, 2000 between the Principal Life Insurance Company (and its successors and beneficiaries of the sale) and Applied Digital Solutions, Inc., a Delaware Corporation, joins the execution of this credit modification agreement to confirm its agreement and approve and approve the terms of this Agreement and to confirm that the execution and delivery of this agreement does not in any way obloment the release, modification, reduction, impairment, termination or fulfillment of the subordinate`s commitments or liabilities under the terms of its guarantee, unless provided for in this agreement. Guarantor also acknowledges that, on June 20, 2008, it changed its legal name from Applied Digital Solutions, Inc. to Digital Angel Corporation by filing a Certificate of Amendment of the Incorporation of Applied Digital Solutions, Inc. certificate with the Dela Secretary of State. d. counter-parts. This agreement can be executed in a structure of drapes, each of which must be original and which, together, forms the same agreement. Each consideration can be provided in the form of a fax machine, which must be considered an original signature.
The lender wants to be paid. The management of the company wants to continue the operation and increase profitability. In some cases, it is in the interest of both parties to negotiate a credit amendment. A change in repayment terms, whether it is a reduced interest rate, an extension of payments over a longer period or another adjustment, can give the business the respite it needs, while increasing the lender`s chances of finally being repaid. one. The borrower has taken all necessary and appropriate steps to approve this agreement and to approve the execution, supply and execution of this agreement. 6. Standard. Subject to the information and healing rights provided by the loan documents, the agent is required, in the event of a delay in this agreement or loan documents, including, but not limited, to non-payment to the administrator (i) in accordance with sections 2 or 3 or ii) and is required, on the date of the applicable payment, in accordance with the payment plan established in the credit documents, following the agent`s notification to the borrower 153, the borrower undertakes to execute and enter into voluntary enforcement agreements or acts of execution in lieu of the enforced execution and all documents relating to the enforcement with the trustee for all mortgages executed by the borrower for the benefit of the agent , whether or not these mortgages are included in the recitals of this agreement. The borrower accepts that the nature of the agreement, whether it is a voluntary silos agreement or a certificate instead of a forced execution, as well as the date of execution of this agreement, will be determined at his discretion by the agent.