Amendment to Secured Promissory Note - MG Finance Co., Ltd
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EX-10.6 2 a9302021amendment1tosecure.htm EX-10.6 Document
Exhibit 10.6
Amendment No. 1 to Secured Promissory Note
PN274
Maker: Stabilis Solutions, Inc., a Florida corporation (F/K/A Stabilis Energy, Inc.)
Maker’s Mailing Address:
11750 Katy Freeway
Suite 900
Houston, TX 77079
Payee: M/G Finance Co., Ltd.
Loan Origination Date: August 16, 2019
Date of Amendment: September 20, 2021
Original Principal Amount: $5,000,000
The above reference Promissory Note (“Note”), the outstanding balance of which at the time of this amendment is $3,464,107.11, is hereby amended as follows:
Terms of Payment (principal and interest):
From the date hereof Maker shall make twelve (12) payments of principal and interest as follows:
Date | Beginning Balance | Payment | Accrued Interest (SEP-DEC 2021) | Interest | Principal | Ending Balance | ||||||||||||||
| 9/10/2021 3,464,107.11 | DEFERRED | 3,464,107.11 | ||||||||||||||||||
| 10/10/2021 3,464,107.11 | DEFERRED | 3,464,107.11 | ||||||||||||||||||
| 11/10/2021 3,464,107.11 | DEFERRED | 3,464,107.11 | ||||||||||||||||||
| 12/10/2021 3,464,107.11 | DEFERRED | 3,464,107.11 | ||||||||||||||||||
| 1/10/2022 | 3,464,107.11 | 235,367.36 | 102,048.64 | 25,512.16 | 107,806.57 | 3,356,300.55 | ||||||||||||||
| 2/10/2022 | 3,356,300.55 | 235,367.36 | 24,718.19 | 210,649.17 | 3,145,651.38 | |||||||||||||||
| 3/10/2022 | 3,145,651.38 | 235,367.36 | 23,166.82 | 212,200.54 | 2,933,450.85 | |||||||||||||||
| 4/10/2022 | 2,933,450.85 | 235,367.36 | 21,604.03 | 213,763.33 | 2,719,687.51 | |||||||||||||||
| 5/10/2022 | 2,719,687.51 | 235,367.36 | 20,029.72 | 215,337.64 | 2,504,349.87 | |||||||||||||||
| 6/10/2022 | 2,504,349.87 | 235,367.36 | 18,443.82 | 216,923.54 | 2,287,426.34 | |||||||||||||||
| 7/10/2022 | 2,287,426.34 | 235,367.36 | 16,846.24 | 218,521.12 | 2,068,905.22 | |||||||||||||||
| 8/10/2022 | 2,068,905.22 | 235,367.36 | 15,236.90 | 220,130.46 | 1,848,774.75 | |||||||||||||||
| 9/10/2022 | 1,848,774.75 | 470,734.72 | 13,615.70 | 457,119.02 | 1,391,655.73 | |||||||||||||||
10/10/2022 | 1,391,655.73 | 470,734.72 | 10,249.15 | 460,485.57 | 931,170.16 | |||||||||||||||
11/10/2022 | 931,170.16 | 470,734.72 | 6,857.80 | 463,876.92 | 467,293.24 | |||||||||||||||
12/10/2022 | 467,293.24 | 470,734.72 | 3,441.48 | 467,293.24 | 0.00 | |||||||||||||||
All other terms and conditions of the Note remain unchanged.
EXECUTED and made EFFECTIVE as of September 20, 2021.
MAKER: STABILIS SOLUTIONS, INC.
By:
Andrew L. Puhala
Its: Senior Vice President, Chief Financial Officer and Secretary
PAYEE: M/G FINANCE CO., LTD.
By:
Ben Broussard
Its: Chief Financial Officer
