Refinancing and Repayment Terms Agreement between SANUWAVE, INC. and GCF Resources LLC
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Summary
SANUWAVE, INC. and GCF Resources LLC have agreed to refinance a remaining balance of $651,190 from previous contracts, deducting this amount from a new $1,500,000 disbursement. The agreement outlines that if SANUWAVE repays $1,770,000 within 30 days, $1,815,000 within 31-60 days, or $1,875,000 within 61-90 days, the advance will be considered fully paid. Additionally, the first six weekly payments will be $59,000, increasing to $98,666.67 per week from week seven until the contract is paid off.
EX-10.55 8 brhc10036577_ex10-55.htm EXHIBIT 10.55
EXHIBIT 10.55
December 21st, 2021
Attn: KEVIN A RICHARDSON
SANUWAVE, INC
ML Factors agrees to refinance the remaining RTR balance due in the amount of $651,190.00 from your previous GCF contracts dated and signed on September 27, 2021.
This RTR balance will be reduced from the disbursement amount of $1,500,000.00 on the new GCF agreement, dated December 21st, 2021. Please affix your signature below to confirm your acknowledgement of this transaction.
Thank you,
GCF Resources
| X | Kevin A Richardson II | | Date | 12/22/2021 | |
December 21st, 2021
ATTN: KEVIN A RICHARDSON II
In regards to SANUWAVE, INC. (the “merchant”), GCF Resources agrees that if the merchant pays back $1,770,000.00 within 30 days of funding the advance will be paid in full. Additionally, if the merchant pays back $1,815,000.00 within 31-60 days of funding the advance will be considered paid in full. Finally, if the merchant pays back $1,875,000.00 with.in 61-90 days of funding the advance will be considered paid in full.
By signing below, you acknowledge and agree to this adjustment.
Thank you.
GCF Resources
| X | Kevin A Richardson II | | Date | 12/22/2021 | |
456A Central Avenue #129, Cedarhurst, NY 11516
December 21, 2021
In regards to [Sanuwave, Inc] (the “merchant”), GCF RESOURCES LLC provides this addendum to confirm that the first 6 payments will be $59,000.00 per week, beginning January 3rd 2022, and starting week 7 the new payment amount will be $98,666.67, which will continue to be debited on a weekly basis until the contract is paid in full.
Thank you
| X | Kevin A Richardson II | 12/22/2021 | | |
| Print Name | Date | |||
| X | Kevin A Richardson II | 12/22/2021 | | |
| Signature | Date | |||
