Second Amendment dated January 1, 2022 to Subordinated Promissory Note dated November 1, 2018 of eCommerce Funding LLC

Contract Categories: Business Finance - Note Agreements
EX-10.10 5 cm171_ex10-10.htm EXHIBIT 10.10

 

Exhibit 10.10

 

SECOND AMENDMENT TO

SUBORDINATED PROMISORY NOTE

DATED NOVEMBER 1, 2018

 

WHEREAS ECOMMERCE FUNDING LLC, a Utah limited liability company (“Maker”) and SWL INVESTMENTS LP, an Oklahoma limited partnership (“Holder”) entered into a subordinated note agreement (the “Note”) on November 1, 2018 for the principal amount of $500,000; and

 

WHEREAS A First Amendment to Subordinated Note was entered into on April 1, 2019 whereby the principal amount of the note was increased from $500,000 to $1,500,000; and

 

WHEREAS Maker has need for funds in addition to that amount provided by the Note; it is

 

AGREED by both the Maker and Holder that the principal amount of the Note be amended to increase the principal amount of the Note from $1,500,000, as amended on April 1, 2019 to $2,200,000, with the same terms and conditions as stated in the original note.

 

This Amendment to the Note is hereby approved with an effective date of January 1, 2022.

 

  “Maker”
  eCommerce Funding LLC
   
  By: /s/ Keith L. Merrell
     
  Name: Keith L. Merrell
     
  Title: CFO
     
  “Holder”
  SWL Investments LP
   
  By: /s/ S.Whitfield Lee
     
  Name: S.Whitfield Lee
     
  Title: President