Amendment to Promissory Note between Mountain Crest Acquisition Corp. V and Mountain Crest Global Holdings LLC dated May 16, 2023

Contract Categories: Business Finance - Note Agreements
EX-10.1 3 mountaincrest5_ex10-1.htm EXHIBIT 10.1

 

Exhibit 10.1

 

AMENDMENT TO PROMISSORY NOTE

 

THIS AMENDMENT TO PROMISSORY NOTE (this “Agreement”), dated as of May 16, 2023, by and between Mountain Crest Acquisition Corp. V, a Delaware corporation and blank check company (the “Maker”), and Mountain Crest Global Holdings LLC (the “Payee”).

 

WHEREAS, Maker executed and delivered a Promissory Note dated as of February 15, 2023 (the “Note”) for the benefit of Payee;

 

WHEREAS, Payee and Maker desire to amend the Note as set forth herein.

 

NOW, THEREFORE, for other good and valuable consideration, the parties hereto hereby agree as follows:

 

1.Paragraph 4 of the Note shall be amended by replacing “May 16, 2023” with “November 16, 2024”.

 

2.Paragraph 5 of the Note shall be amended by replacing “May 16, 2023” with “November 16, 2024”.

 

3.Except as specifically modified and amended herein, all other terms, conditions and covenants contained in the Note shall remain in full force and effect.

 

[SIGNATURE PAGES IMMEDIATELY FOLLOW]

 

 

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their duly authorized representatives, all as of the day and year first above written.

 

  MAKER:
   
  Mountain Crest Acquisition Corp. V
   
  By: /s/ Suying Liu
  Name: Suying Liu
  Title: Chief Executive Officer
   
  Holder:
   
  Mountain Crest Global Holdings LLC
     
  By: /s/ Dong Liu
  Name: Dong Liu
  Title: Authorized Signatory