Amendment to the Line of Credit, Dated May 1, 2014
Contract Categories:
Business Finance
- Credit Agreements
EX-10.1 2 exhibit1011apr2015.htm EXHIBIT 10.1 Exhibit 10.1.1Apr2015
Amendment to the
Line of Credit, Dated May 1, 2014
The parties agree that the $2,000,000 Line of Credit (the “Line of Credit”) by and between Minerco Resources Inc. (the “Maker”) and Post Oak, LLC (the “Lender”) is hereby amended as follows:
1. Line of Credit. The total of Advances allowed outstanding at any given time shall increase from Two Million Dollars ($2,000,000) to Three Million Dollars ($3,000,000.00).
2. Security. The requirement under this section has been removed.
ALL OTHER TERMS AND CONDITIONS OF THE LINE OF CREDIT REMAIN IN FULL FORCE AND EFFECT.
Please indicate acceptance and approval of this amendment dated April 1, 2015 by signing below:
MINERCO RESOURCES, INC. POST OAK, LLC
By:__/s/ V. Scott Vanis___________ By:__/s/ Heidi McFarland_______
V. Scott Vanis H. McFarland
Chief Executive Officer Managing Director
Dated:_April 1, 2015______ Dated:_April 1, 2015______
