Amendment to Revolving Loan and Security Agreement between Vaxstar LLC and Netcapital Inc.
This amendment updates the original Revolving Loan and Security Agreement between Vaxstar LLC and Netcapital Inc. by extending the loan's maturity date from April 30, 2021, to April 30, 2022. Both parties agree to this change, and all other terms of the original agreement remain in effect. The amendment is effective as of January 31, 2021, and may be signed in multiple counterparts.
Exhibit 10.8
AMENDMENT TO REVOLVING LOAN AND SECURITY AGREEMENT
This Amendment (the “Amendment”) to the Revolving Loan and Security Agreement dated April 28, 2011, as amended on July 26, 2014 and October 31, 2017 (the “Agreement”) is entered into this 31st day of January 2021, by and between Vaxstar LLC, a Delaware limited liability company (“Vaxstar”), and Netcapital Inc. (“Netcapital”), a Utah corporation, with reference to the following:
READINGS/RECITALS
A. The Agreement, as amended, contains a maturity date of April 30, 2021, and Netcapital and Vaxstar desire to extend the maturity date to a time in the future.
B. Both parties seek to amend the Agreement.
NOW, THEREFORE, in consideration of the foregoing, of the mutual promises hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
Paragraph 9 (k) of the Agreement is amended to read:
“Maturity Date” means April 30, 2022.
COUNTERPARTS: This Amendment may be executed simultaneously in one or more counterparts, each of which when executed and delivered shall be deemed an original, but all of which together shall constitute a single agreement.
IN WITNESS WHEREOF, the parties hereto have entered into this Amendment as of the date written above.
| Vaxstar LLC | ||
| Signature: |  | |
| Manuek Teixeira, Manager | ||
| ValueSetters, Inc | ||
| Signature: |  | |
| Cecilia Lenk, CEO | ||
