If a citizen of the United States accepts, claims, receives, or retains a title of nobility or honor, or accepts and retains gifts, pensions, offices, or emoluments of any kind from an emperor, king, prince, or foreign power without the consent of Congress, that person ceases to be a citizen of the United States and is unable to: to occupy a trust or profit office among them or one of them. [1] The federal courts will rule on arguments about how to interpret the Constitution, all laws passed by Congress, and the rights and duties of our nation in agreements with other nations. In addition, federal courts can hear disputes that may arise between states, between citizens of different states, and between states and the federal government. This proposed amendment would extend both Article 1, Section 9, Article 8, which prohibits the federal government from granting titles of nobility or honour, and Article 10, Clause 1, which prohibits states from conferring them. B. Reference is made to this special option agreement dated April 27, 2017 (“Option Agreement”) by and between Buyer and Sellers, as amended and reformulated from time to time (including, for the avoidance of doubt, the modification and reformulation of this Agreement whose effective date is November 13, 2017, whose amendment and adaptation replaced the original Agreement). A true, current, complete and accurate copy of the Option Agreement is attached to exhibit 1 and forms part of this agreement. Under the option agreement, the purchaser was granted an option to purchase a twenty-five per cent (25%) share of passive income in the royalty payments (the “Option”). For the avoidance of doubt, as defined in the option agreement, “interest on passive income” means a passive right to receive income from royalty payments otherwise payable to sellers under the royalty agreement. For the avoidance of doubt, unless expressly modified in this Agreement, the terms and conditions of the Option Agreement shall remain in full force and effect and shall be hereby confirmed and ratified by Sellers and Buyers. The Title Amendment is a proposed amendment to the United States Constitution. The 11th Congress passed it on May 1, 1810, and submitted it to state legislatures for ratification.
It would revoke the citizenship of the United States of any citizen who has assumed a title of nobility of an “emperor, king, prince or foreign power.” Twice between 1812 and 1816, he was within two states of the number required to be part of the Constitution. Congress has not set a deadline for its ratification, so the amendment is still pending with the states. Ratification by 26 other States is now required for its adoption. Section 10 of Article 1 limits the power of States. States cannot conclude a treaty with a foreign nation; this power is conferred on the Speaker with the agreement of the Council and the consent of two-thirds of the Senate present. States cannot earn their own money, nor confer any title of nobility. As part of the loan agreement, the borrower entered into a contract with Royalty Opportunities S.A.R.L. (ROS) a royalty agreement (the royalty agreement as amended) that authorizes ROS to receive royalty payments. At the same time as the third amendment to the loan agreement, the borrower entered into a second amendment to the licence agreement. In accordance with and subject to the terms of the amended royalty agreement, the borrower agreed to pay 4.52% OF ROS in each fiscal year out of the first $50.0 million in net sales (based on cash proceeds as defined in the amended credit agreement), plus 1.75% of net sales of more than $50.0 million and up to $100.0 million for each fiscal year.
plus 0.438% of net sales of more than $100.0 million for each fiscal year. The Borrower has the right to purchase the amended License Agreement at any time no later than March 12, 2018 for a reduced amount. The redemption amount ranges from approximately $21.9 million to a maximum of approximately $37.2 million. The redemption amount varies depending on when the buyback option is exercised and would be reduced by the amounts previously paid to ROS by the borrower under the amended royalty agreement. As part of the third amendment to the credit agreement and the second amendment to the licence agreement, the borrower also issued a modified and adjusted promissory note to the lender (the amended and reformulated promissory note). The amended and reformulated promissory note reflects the borrower`s obligation to repay to the lender all amounts due under the amended credit agreement, including the additional amounts provided for in the third amendment to the credit agreement. [The respondent] also appears to be arguing that licensed attorneys violate the original Thirteenth Amendment to the United States Constitution by equating the license with the assumption of a title of nobility or honor. The current Thirteenth Amendment does not resemble the one cited by Casteel, nor is it right that the admission of a lawyer should be granted by a foreign power. [24] In April 2019, the Company received $6,000,000 in funds under the Subscription and License Agreement. See note 11. ● November 2017 Royalty Agreement – The Company entered into a royalty agreement with a related party on November 1, 2017 in respect of a $900,000 debenture.
This notice replaced the September and November 2016 royalty agreements. Under the royalty agreement, the Company is required to pay a fee of $1.50 to $3.00 per month for each contact locking device that the Company has in customers` vehicles on the road, the amount depending on the number of devices installed. August 2018 Royalty Agreement – On August 1, 2018, the Company entered into a royalty agreement with a related party in respect of a $1,365,000 debenture. This announcement replaced the November 2017 license agreement and other royalty-free debentures. Pursuant to the License Agreement, the Company is required to pay $1.50 and raise an additional $3.50 for each ignition interlock device for the first nine months of the debenture payable. After the first nine months, the company must pay $1.50 per device, and the amount accumulated in the first nine months will be paid monthly for the next twelve months. Once the debenture payable has been paid in full, the Company is required to pay $3.00 per device on a perpetual basis. ● December 2018 Royalty Agreement – On December 1, 2018, the Company entered into a royalty agreement with a related party in respect of a $2,020,000 debenture. This note replaced the August 2018 license agreement. Under the License Agreement, the Company is required to pay a fee of $5.00 per month for each ignition locking device that the Company has in customers` vehicles on the road. .