Allonge #6 to Convertible Note between Brain Scientific Inc. and Vista Capital Investments, LLC

Contract Categories: Business Finance › Note Agreements
Summary

This agreement is an amendment to a previous convertible note between Brain Scientific Inc. and Vista Capital Investments, LLC. It extends the maturity date of the note to December 31, 2021, and sets a schedule for the company to make five monthly payments of $100,000 each from August through December 2021. Once the final payment is made, the note will be considered fully paid. Both parties have agreed to these revised terms as of August 23, 2021.

Read More Arrow
EX-10.3 4 ea146380ex10-3_brainscien.htm ALLONGE #6 WITH VISTA CAPITAL INVESTMENTS, LLC

Exhibit 10.3

 

ALLONGE TO CONVERTIBLE NOTE

 

Allonge #6 (this “Allonge #6”) to that certain Convertible Note (the “Convertible Note”) attached hereto as Exhibit 1 and made a part hereof in the original principal amount of $275,000 dated December 31, 2019, from Brain Scientific Inc., a Nevada corporation (the “Company”), in favor of Vista Capital Investments, LLC, as Holder (the “Holder”). Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to such terms in the Convertible Note.

 

The Company and the Holder agree that the Convertible Note shall be revised as follows:

 

1. The Maturity Date shall be December 31, 2021; provided, however, that notwithstanding anything to the contrary in the Convertible Note, the Company shall make the following monthly installments of principal and interest, and upon the last payment thereof, the Convertible Note shall be satisfied and paid in full:

 

a.$100,000 on or before August 31, 2021;
   
b.$100,000 on or before September 30, 2021;
   
c.$100,000 on or before October 31, 2021;
   
d.$100,000 on or before November 30, 2021;
   
e.$100,000 on or before December 31, 2021.

 

This Allonge is intended to be attached to and made a permanent part of the Convertible Note.

 

Dated as of the 23 day of August, 2021.

 

Company: BRAIN SCIENTIFIC INC.
     
  By: /s/ Boris Goldstein
  Name:   Boris Goldstein
  Title: Chairman of the Board

 

Holder: VISTA CAPITAL INVESTMENTS, LLC
     
  By: /s/ David Clark
  Name: David Clark
  Title: Manager