AMENDMENT NO. 1 TO AMENDED & RESTATED SECURED PROMISSORY NOTE
Exhibit 10.203
AMENDMENT NO. 1 TO AMENDED & RESTATED SECURED PROMISSORY NOTE
(Original Principal Amount $3,000,000)
This Amendment No. 1 to the Amended and Restated Secured Promissory Note (the "Amendment") is made as of June 30, 2019 (the “Effective Date”), by and between TWINLAB CONSOLIDATED HOLDINGS, INC., a Nevada corporation ("TCHI"), TWINLAB CONSOLIDATION CORPORATION, a Delaware corporation, TWINLAB HOLDINGS, INC., a Michigan corporation, ISI BRANDS INC., a Michigan corporation, TWINLAB CORPORATION, a Delaware corporation, NUTRASCIENCE LABS, INC., a Delaware corporation, NUTRASCIENCE LABS IP CORPORATION, a Delaware corporation, ORGANIC HOLDINGS LLC, a Delaware limited liability company, RESERVE LIFE ORGANICS, LLC, a Delaware limited liability company, RESVITALE, LLC, a Delaware limited liability company, RE-BODY, LLC, a Delaware limited liability company, INNOVITAMIN ORGANICS, LLC, a Delaware limited liability company, ORGANICS MANAGEMENT LLC, a Delaware limited liability company, COCOAWELL, LLC, a Delaware limited liability company, FEMBODY, LLC, a Delaware limited liability company, RESERVE LIFE NUTRITION, L.L.C., a Delaware limited liability company, INNOVITA SPECIALTY DISTRIBUTION LLC, a Delaware limited liability company, and JOIE ESSANCE, LLC, a Delaware limited liability company (collectively as "Maker"), and GREAT HARBOR CAPITAL, LLC, a Delaware limited liability company ("Holder").
WHEREAS, the Maker is indebted to the Holder under a certain Amended and Restated Secured Promissory Note in the principal amount of Three Million Dollars ($3,000,000), dated August 30, 2017 (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 "August 29, 2020" is hereby restated in its entirety to read as "October 22, 2021" such that the Maturity Date shall be October 22, 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.
Amendment No. 1 to Amended and Restated Secured Promissory Note ($3,000,000 – Great Harbor)
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 Amended and Restated Secured Promissory Note ($3,000,000 – Great Harbor)
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IN WITNESS WHEREOF, Maker and Holder have executed this Amendment as of the date first above written.
TWINLAB CONSOLIDATED HOLDINGS, INC.
By: |
/s/ Xxxxxxx Xxxxxxx |
Date: 7/8/2019 |
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Xxxxxxx Xxxxxxx |
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Chief Executive Officer |
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GREAT HARBOR CAPITAL, LLC
By: |
/s/ Xxxxx Xxx Xxxxx |
Date: 7/8/2019 |
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Xxxxx Xxx Xxxxx |
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President |
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Amendment No. 1 to Amended and Restated Secured Promissory Note ($3,000,000 – Great Harbor)