Notice of Borrowing of Akumin Inc. to Stonepeak Magnet Holdings LP, dated December 4, 2023

Exhibit 10.3

NOTICE OF BORROWING

December 4, 2023

Stonepeak Magnet Holdings LP,

as DIP Lender

55 Hudson Yards

550 W. 34th Street – 48th Floor

New York, NY 1000

Attention: Rajiv Patel, James Wyper, Sarah Weissman

Ladies and Gentlemen:

This Notice of Borrowing is delivered to you pursuant to that (x) certain Summary of Proposed Terms and Conditions for DIP Financing and Use of Cash Collateral, dated as of November 20, 2023 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, including, if applicable, pursuant to the Final Order, the “DIP Term Sheet”), among Akumin Inc., a Delaware corporation, as a debtor and debtor-in-possession (the “DIP Borrower”), its affiliates signatory thereto as DIP Guarantors or thereafter designated as DIP Guarantors pursuant to the definitive DIP Documents, Stonepeak Magnet Holdings LP, in its capacity as lender under the DIP Facility (in such capacity, together with its successors and assigns in such capacity, the “DIP Lender”), (y) the Final Order approving the DIP Term Sheet and approving and granting the DIP liens to the DIP Lender to secure the DIP Obligations (Docket No. 258). Unless otherwise defined herein, capitalized terms used herein and defined in the DIP Term Sheet shall have the respective meanings provided in the DIP Term Sheet.

(1) The DIP Borrower hereby requests that on December 4, 2023 (the “Funding Date”), a portion of the DIP Facility Commitments under the DIP Facility be funded in the aggregate principal amount of Six Million Dollars ($6,000,000) (the “Fourth DIP Loan”), with the proceeds thereof to be disbursed as provided for herein for the benefit of the DIP Borrower. The DIP Borrower hereby authorizes and directs the DIP Lender to wire transfer the proceeds of the Fourth DIP Loan in immediately available funds, pursuant to the wire transfer instructions specified below. Upon such wire transfer, such Fourth DIP Loan shall be deemed issued to the DIP Borrower under the DIP Facility and interest shall commence to accrue as specified in the DIP Term Sheet.

(2) Attached hereto as Exhibit A is the Approved Budget, which demonstrates the need for the Fourth DIP Loan requested hereby and shows the proposed use of such funds within the time period before the Milestone for entry of the Final Order;

(3) The DIP Borrower hereby acknowledges that the acceptance of the proceeds of the Fourth DIP Loan requested hereby constitutes a representation and warranty by the DIP Borrower, on behalf of itself and each DIP Guarantor, that, on the Funding Date (both immediately before and after giving effect thereto and to the application of the proceeds thereof), (A) there are no defaults or Events of Default under the DIP Term Sheet and (B) all the representations and warranties set forth in the DIP Term Sheet are true and correct.

Signature Page to Notice of Borrowing

(4) Please wire transfer the proceeds of the Fourth DIP Loan on behalf, and at the direction, of the DIP Borrower to the following account and financial institution:

(5) The DIP Borrower hereby represents and warrants that each of the conditions set forth in the DIP Term Sheet under the sections entitled “DIP Conditions Precedent” and “Conditions Precedent to All Credit Extensions” are or will be satisfied as of the Funding Date.

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The DIP Borrower has caused the Notice of Borrowing to be executed and delivered as of the date first above written.

Signature Page to Notice of Borrowing

EXHIBIT A

Approved Budget

(See Attached)

Schedule 1

DIP Budget

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