Amendment No. 1 to Unsecured Promissory Note - Replacing Debt Repayment Promissory Note, dated July 8, 2019, by and between Twinlab Consolidated Holdings, Inc. and Little Harbor LLC to amend that certain Unsecured Promissory Note, dated February 6, 2018 ($3.3MM)
Exhibit 10.211
AMENDMENT NO. 1 TO UNSECURED NOTE REPLACING DEBT REPAYMENT PROMISSORY NOTE
(Original Principal Amount $3,266,670)
This Amendment No. 1 to Unsecured Note Replacing Debt Repayment Promissory Note (the "Amendment") is made as of June 30, 2019 (the “Effective Date”), by and between TWINLAB CONSOLIDATED HOLDINGS, INC., a Nevada corporation ("Maker"), and LITTLE HARBOR LLC, a Nevada limited liability company ("Holder").
WHEREAS, the Maker is indebted to the Holder under a certain Unsecured Debt Repayment Promissory Note in the principal amount of Three Million Two Hundred Sixty-Six Thousand Six Hundred and Seventy Dollars ($3,266,670), dated February 6, 2018 (the "Note"); and
WHEREAS, the Borrower and the Holder have agreed to amend the Note in accordance with this Amendment.
NOW, THEREFORE, the parties hereto agree as follows:
1. In the introduction paragraph, the phrase "July 25, 2020" is hereby restated in its entirety to read as "October 21, 2021" such that the Maturity Date shall be October 21, 2021.
2. Except as expressly amended hereby, all terms and conditions of the Note shall remain in full force and effect.
3. Upon the effectiveness of this Amendment, each reference in the Note to "the Note," "this Note," "hereunder," "hereof," "herein," or words of similar import shall mean and be a reference to the Note, as amended by this Amendment.
4. This Amendment constitutes the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes all prior negotiations, understandings, and agreements between such parties with respect to the subject matter hereof. To the extent of any conflict between the terms and conditions of this Amendment and the Note, the terms and conditions of this Amendment shall govern.
5. This Amendment may be executed in one or more counterparts, including by means of facsimile and/or portable document format, each of which shall be an original and all of which shall together constitute one and the same document.
[SIGNATURE PAGE FOLLOWS]
AMENDMENT NO. 1 TO UNSECURED NOTE REPLACING DEBT REPAYMENT PROMISSORY NOTE
(Original Principal Amount $3,266,670)
IN WITNESS WHEREOF, Maker and Holder have executed this Amendment as of the date first above written.
| TWINLAB CONSOLIDATED HOLDINGS, INC. |
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| By: | /s/ Anthony Zolezzi |
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| Anthony Zolezzi |
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| Chief Executive Officer |
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| LITTLE HARBOR CAPITAL, LLC |
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| By: | /s/ David Van Andel |
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| David Van Andel |
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| President |
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AMENDMENT NO. 1 TO UNSECURED NOTE REPLACING DEBT REPAYMENT PROMISSORY NOTE
(Original Principal Amount $3,266,670)