AMENDED AND RESTATED PROMISSORY NOTE

EXHIBIT 10.26

AMENDED AND RESTATED PROMISSORY NOTE

THIS AMENDED AND RESTATED PROMISSORY NOTE (“Agreement”) is made as of May 9th, 2022 (“Effective Date”) by and between AQUA GAS S.A.C. (“Aqua Gas”), XXXXX XXXXXXX XXXXXXX XXXXXX (“Xxxxxxx”), XXXX XXXXXXX XXXXXXXXXX XXXXXXXX (“Xxxxxxxx”) XXXXXX XXXXX XXXXX (“Xxxxx”) AND XXXXX XXXXXXXXX XXXXXXXXX XXXXXXXXX (“Xxxxxxxxx”) (Xxxxxxx, Xxxxxxxx, Xxxxx and Xxxxxxxxx collectively referred to as “Guarantors”) and GLIDE MASTER FUND SPC LTD. – AV ALTERNATIVE FUND II (MASTER) SEGREGATED PORTFOLIO (“Glidemaster”) who are collectively referred to as the Parties as follows:

WHEREAS, Glidemaster loaned Aqua Gas $900,000.00 (“the Loan”) which loan was documented in a March 18, 2018 Promissory Note and

WHEREAS, the Guarantors guaranteed the Loan; and

WHEREAS, in January 2021, the Parties verbally agreed to extend the due date of the remaining unpaid principal balance of the Loan, in the amount of $256,593.23, and accrued and unpaid interest thereon, to November 2021;

WHEREAS, the Parties have agreed to further extend the due date of the remaining unpaid principal balance of the Loan and accrued and unpaid interest thereon; and

WHEREAS, the Parties have agreed to enter into this Amended and Restated Promissory Note.

NOW, THEREFORE, in consideration of the premises and the mutual agreements and covenants hereinafter set forth, and intending to be legally bound, the Parties hereby agree as follows:

1. Recitals: The foregoing recitals are true and correct.

2. Promissory Note: This Promissory Note is issued, in accordance with Article 10 of the Securities Law promulgated by Law No. 27287 of the Laws of Peru as follows: AQUA GAS S.A.C., a company incorporated and existing in accordance with the Laws of the Republic of Peru, identified with Single Taxpayer Registry No. 20601446279, duly represented by Xx. Xxxxxx Xxxxx Xxxxx, identified with National Document of Identity No. 08215454 and by Xx. Xxxx Xxxxxxx Xxxxxxxxxx Xxxxxxxx, identified with National Document of Identity No. 16428482, according to the powers inscribed in Electronic Part No. 13686708 of the Registry of Legal Persons of the Registry Office of Lima and Callao - Lima Office, with address for the purposes of this document in Xxxxxx Avenue Xxxxx East, No. 560, Office Xx. 0000, xxxxxxxx xx Xxx Xxxxxx, province and department of Lima (the “Payor”), promises to pay unconditionally to the order of GLIDE MASTER FUND SPC LTD. - AV ALTERNATIVE FUND (MASTER) SEGREGATED PORTFOLIO, a company incorporated and organized according to the laws of the British Virgin Islands on August 7, 2015, under the registration number 1885572, managed and represented by AV Securities Inc., an anonymous company incorporated and organized according to the laws of the Republic of Panama and registered in the Mercantil Registry Folio No. 618528 (the “Holder”), the sum of $256,593.23 as of the execution of this Amended and Restated Promissory Note.

3. Amount: The outstanding principal amount of the Loan under this Promissory Note in the amount of $256,593.23 will generate compensatory interest at the rate of a nominal annual rate (TAN) of interest of 12.9% (twelve point nine percent), considering for this calculation a three hundred and sixty (360) day calendar year. All interest payments will be made on the due date set forth in this Promissory Note and the failure to make interest payments prior to the due dates set forth in this Promissory Note shall not constitute a default. It is stipulated in the event of a default that the interest rate for all payments in arrears will be a rate of interest in the amount of 20% (twenty per cent) and accrues from the occurrence of the default until the moment in which the total amount of this Promissory Note is paid or until the date on which the breach has been remedied, whichever occurs first to the satisfaction of the Holder. Once the Holder has expressed its satisfaction with the correction of the default, the amount of this Promissory Note will continue accruing compensatory interest at the rate of 12.9%. The payments made under this Agreement will be paid without any deduction or withholding for taxes. If any deduction or withholding for taxes must be made, the Payor will increase the payments to the Holder in the amount of any such deduction or withholding. All payments will be made in U.S. Dollars.

4. Due Date: The Parties agree that the due date for the repayment of the outstanding principal amount of the Loan under this Promissory Note in the amount of $256,593.23, in addition to all accrued and unpaid interest thereon, is extended to December 31, 2022..

5. Renewals: This Promissory Note may be renewed or extended upon the agreement of the Parties.

6. Requirements of Exercise: In accordance with the provisions of Article 52 of Law 27287 (Law of Securities) this Promissory Note will not be required to be protested to exercise the actions derived from the same.

7. Guarantee: In accordance with the provisions of Article 57 of the Securities Law: (i) Oyama, identified with Document National Identity No. 08215454 married to Xxxxxxxxx, identified with Document National Identity No. 08215453 and Xx. Xxxxx Xxxxxxx Xxxxxxx Xxxxxx, identified with American U.S. Passport No. 000000000 jointly and severally with their supportive endorsements hereby guarantee the fulfillment of up to seventy percent (70%) of the total obligations contained in this Promissory Note and (ii) Xxxxxxxx, identified with National Document Identity No. 16428482 acting on a personal and individual basis, guarantees compliance with up to thirty percent (30% ) of the total obligations contained in this Promissory Note (“the Guarantees”).

8. Taxes and Costs: The Payor will pay any taxes, compensatory interest and moratoriums, commissions, charges, administrative costs, notarial and judicial expenses or extrajudicial expenses that result from the collection of this Promissory Notre.

9. Jurisdiction: The Payor and Guarantors renounce the jurisdiction of their domicile and submit to the jurisdiction of the Judges of the Judicial District of Xxxx-Xxxxxxx. Notwithstanding the foregoing, the Payor and Guarantors agree that their domicile as set forth herein is equally valid for all actions taken in connection with this Promissory Note, including but not limited to, notarial, judicial or extra-judicial that are authorized or necessary for the purposes of collection. Any change of domicile must be communicated in writing to the Holder with no less than fifteen (15) days’ notice.

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IN WITNESS WHEREOF the parties hereto have personally executed this Agreement.

AQUA GAS S.A.C.						GLIDEMASTER FUND SPC LTD. – AV ALTERNATIVE FUND II (MASTER) SEGREGATED PORTFOLIO
By:		/s/ Xxxxxx Xxxxx				By:		/s/ Xxxxxxxx Xxxxxx
Print:		Xxxxxx Xxxxx				Print:		Xxxxxxxx Xxxxxx
Title:		Representative				Title:		Legal Representative
/s/ Xxxxx Xxxxxxx Xxxxxxx Xxxxxx						/s/ Xxxxxx Xxxxx Xxxxx
Xxxxx Xxxxxxx Xxxxxxx Xxxxxx						Xxxxxx Xxxxx Xxxxx
/s/ Xxxx Xxxxxxx Xxxxxxxxxx Xxxxxxxx						/s/ Xxxxx Xxxxxxxxx Xxxxxxxxx Xxxxxxxxx
Xxxx Xxxxxxx Xxxxxxxxxx Xxxxxxxx						Xxxxx Xxxxxxxxx Xxxxxxxxx Xxxxxxxxx

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