●
Earnings Feed
Filings
Companies
Insiders
Pricing
Blog
⌘
K
Login
Start Free
REVCARE INC
·
8-K
Sep 12, 2:54 PM ET
Share
Compare
REVCARE INC 8-K
Loading document...
Share
More
Contents
11
4.1 Default in the payment of any installment of principal or interest when due should such default not be cured within ten (10) days after written notice thereof is delivered to the Company at its last known address; or
4.2 Default under the Security Agreement should such default not be cured within ten (10) days after written notice thereof is delivered to the Company at its last known address; or
4.3 Termination of that certain Employment Agreement between Robert Perez (“Executive”) and the Company dated August 14, 2000, as amended, by the Company for any reason other than “Cause.” For purposes of this Note, “Cause” shall mean (i) commission of a felony or other crime involving moral turpitude or the commission of any other act or omission involving dishonesty, disloyalty or fraud with respect to the Company or any of its subsidiaries or any of their customers, (ii) reporting to work under the influence of alcohol or illegal drugs, the use of illegal drugs (whether or not at the workplace) or other repeated conduct causing the Company or any of its subsidiaries substantial public disgrace or disrepute or economic harm, (iii) substantial and repeated failure to perform duties as reasonably directed by the Board of Directors of the Company (the “Board”), (iv) gross negligence or willful misconduct with respect to the Company or any of its subsidiaries or (v) any material breach of the Employment Agreement; or
4.4 An assignment by the Company of substantially all of its assets for the benefit of creditors; or
4.5 The adjudication of the Company as a bankrupt (in involuntary or voluntary proceedings); or
4.6 The filing by the Company of a petition under the Federal Bankruptcy Act or any comparable state law for a reorganization, arrangement or other judicial protection upon insolvency; or
6.1 Notice of Conversion. If Holder desires to convert the Note, Holder shall provide written notice to the Company at RevCare, Inc., 5400 Orange Avenue, Suite 200, Cypress, California 90630, Attention: Manuel Occiano, Chief Executive Officer, notifying the Company of the requested conversion to be effected. Within ten (10) days of receipt of such notice, the Company shall respond to Holder’s request in writing, specifying the number of shares of Stock to be issued upon conversion, the amount of accrued interest to be paid in cash, the date on which such conversion will occur and calling upon such Holder to surrender to the Company, in the manner and at the place designated, this Note. Such response by the Company shall be delivered to Holder at the address last shown on the records of the Company for Holder or given by Holder to the Company for the purpose of notice.
6.2 Mechanics and Effect of Conversion. No fractional shares of Stock shall be issued upon conversion of this Note. In lieu of the Company issuing any fractional shares to Holder upon the conversion of this Note, the Company shall pay to Holder the amount of outstanding principal or interest that is not so converted. Upon the conversion of this Note, Holder shall surrender this Note, duly endorsed, at the principal office of the Company. Upon conversion of this Note, the Company shall be forever released from all its obligations and liabilities under this Note.
6.3 Delivery of Stock Certificates. As promptly as practicable after the conversion of this Note, the Company at its expense will issue and deliver to Holder a certificate or certificates for the number of full shares of Stock issuable upon such conversion (bearing such legends as are required by applicable state and federal securities laws in the opinion of counsel to the Company), together with any other securities and property to which Holder is entitled upon such conversion under the terms of this Note, including a check payable to Holder for any cash amounts payable for any accrued but unpaid interest and fractional shares as described above. In the event only a portion of this Note is converted, the Company shall, at the time of delivery of the stock certificate or certificates, deliver to Holder a new Note evidencing the remaining unpaid principal balance of this Note, which Note shall in all other respects be identical with this Note.
6.4 Identical Terms. Subject to Holder’s execution of any necessary investment documents executed by the other investors in the Financing, any shares of Stock received by Holder pursuant to the conversion of this Note shall have the same rights, preferences and privileges granted to the other investors in the Financing and under such investment documents.
3
Contents
Share
More
Download PDF