Amendment No. 4 to Promissory Note between Globis Acquisition Corp. and Globis SPAC LLC
This amendment, effective December 29, 2021, is between Globis Acquisition Corp. and Globis SPAC LLC. It increases the principal amount of an existing promissory note from $3,000,000 to $5,000,000. All other terms of the original note, as previously amended, remain unchanged. The agreement is signed by authorized representatives of both parties.
Exhibit 10.4
GLOBIS ACQUISITION CORP.
AMENDMENT NO. 4 PROMISSORY NOTE
THIS AMENDMENT NUMBER 4 OF NOTE (this “Amendment”) is entered into effective as of December 29, 2021, by Globis Acquisition Corp., a Delaware corporation (“Maker”), and Globis SPAC LLC, a Delaware limited liability company (“Globis SPAC”), or its designees.
RECITALS:
WHEREAS that certain Promissory Note, dated January 11, 2021, in the original principal amount of $1,000,000.00 (the “Note”) executed by Maker payable to Globis SPAC; and
WHEREAS, the Note was amended by Amendment No. 2 on July 19, 2021 to increase the principal amount of the Note to $2,000,000; and
WHEREAS, the Note was amended by Amendment No. 3 on October 13, 2021 to increase the principal amount of the Note to $3,000,000; and
WHEREAS the parties desire to further amend the Note to increase the principal amount of the Note to $5,000,000, and each party acknowledges the mutual benefits of so amending the Note;
NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:
1. | The Principal Amount of the Note is hereby increased to $5,000,000. |
All other terms of the Note, as amended, shall remain in full force and effect.
[Signature Page Follows]
EXECUTED as of the day and year first above written.
GLOBIS ACQUISITION CORP. | ||
a Delaware corporation | ||
By: | /s/ Paul Packer | |
Name: | Paul Packer | |
Title: | Chief Executive Officer and Chief Financial Officer | |
GLOBIS SPAC LLC | ||
a Delaware limited liability company | ||
By: | /s/ Paul Packer | |
Name: | Paul Packer | |
Title: | Manager |
SIGNATURE PAGE TO AMENDMENT NO. 4 TO PROMISSORY NOTE