ROSENTHAL & ROSENTHAL, INC.
Exhibit 10.24
XXXXXXXXX & XXXXXXXXX, INC.
0000 Xxxxxxxx
New York NY 10018
April 25, 2022
JP Outfitters, LLC
0000 Xxxxxxxx Xxxxxx Xxxxx 0000
Miami, FL 33131
Ladies and Gentlemen:
Reference is made to the Financing Agreement entered into between Xxxxxxxxx & Xxxxxxxxx, Inc. (“Lender”) and JP Outfitters, LLC (“Borrower”) dated June 11, 2019, as amended or supplemented (the “Financing Agreement”).
This will confirm that, effective as of the date hereof, the Financing Agreement is hereby amended as follows:
| a. | The definition of “Maximum Credit Facility” in Article 1 is amended and restated to be “$5,750,000”. |
This will additionally confirm that, as a result of the above $500,000 increase in the Maximum Credit Facility, Borrower shall pay to lender an additional facility fee on such increased amount, pro-rated through July 1, 2022 (i.e., the next anniversary of the Closing Date on which the facility fee set forth in Section 3.1 of the Financing Agreement is payable), equal to one-sixth of one percent (1/6th of 1%) of $500,000, which additional fee shall be fully earned and payable on the date of this amendment.
Except as hereinabove specifically set forth, all of the terms and conditions of the Financing Agreement shall remain in full force and effect and continue unmodified.
| Very truly yours, | ||
| XXXXXXXXX & XXXXXXXXX, INC. | ||
| By: | /s/ Xxxxxx X. Xxxxxx | |
| Name: | Xxxxxx X. Xxxxxx | |
| Title: | Executive Vice President | |
| Agreed: | ||
| JP OUTFITTERS, LLC | ||
| By: | /s/ Xxxxxx Xxxxx |
|
| Name: | Xxxxxx Xxxxx | |
| Title: | President and Manager | |
