Eighth Amendment to Promissory Notes between MMEX Resources Corporation and GS Capital Partners, LLC

Contract Categories: Business Finance › Modification Agreements
Summary

MMEX Resources Corporation and GS Capital Partners, LLC have agreed to extend the maturity dates of three promissory notes to March 31, 2022. In exchange for this extension, MMEX will pay GS Capital Partners a $15,000 extension fee. All other terms of the original notes remain unchanged. This amendment is effective as of December 30, 2021, and is signed by authorized representatives of both parties.

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EX-4.5 2 mmex_ex45.htm EIGHTH AMENDMENT TO PROMISSORY NOTES mmex_ex45.htm

EXHIBIT 4.5

 

EIGHTH AMENDMENT TO PROMISSORY NOTES

 

THIS EIGHTH AMENDMENT TO PROMISSORY NOTES (this “Amendment”), dated December 30, 2021, is entered into by MMEX Resources Corporation (the “Company”) and GS Capital Partners, LLC (“Holder”).

 

WHEREAS, the Company has outstanding indebtedness to Holder as follows (the “Notes”):

 

 

(I)

Note dated February 4, 2020, in the original principal amount of $90,000;

 

(ii)

Note dated March 31, 2020, in the original principal amount of $200,000;

 

(iii)

Note dated February 22, 2021, under which the Company has drawn down $450,000; and

 

WHEREAS, the maturity date of the Notes were extended previously; and

 

WHEREAS, the Company and Holder are continuing to discuss the development plans and financial resources of the Company; and

 

WHEREAS, the Company and the Holder desire to amend the Notes in light of the foregoing;

 

NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is hereby agreed by each party hereto as follows:

 

1. The maturity dates of the Notes are hereby extended to March 31, 2022.

 

2. The Company agrees to wire $15,000 to Holder as an extension fee.

 

3. Except as expressly amended and modified by this Amendment, the Notes are and shall continue to be in full force and effect in accordance with the terms thereof.

 

4. This Amendment may be executed by the parties hereto in counterparts, and all such counterparts taken together shall be deemed to constitute one and the same instrument.

 

IN WITNESS WHEREOF, the parties hereto have caused this Seventh Amendment to Promissory Notes to be duly executed as of the date first written above.

 

  MMEX Resources Corporation
       
By: /S/ JACK W. HANKS

 

 

 Jack W. Hanks, President and CEO  

 

 

 

 

     
  GS Capital Partners, LLC  

 

 

 

 

 

By:

/S/ GABE SAYEGH

 

 

 

Gabe Sayegh, President