Amendment No. 1 to 10% Convertible Note
Exhibit 10.68(a)
Amendment No. 1 to
10% Convertible Note
This Amendment No. 1 to 10% Convertible Note effective March 10, 2022 between Cell Source, Inc. (the “Company”) and Xxxxxx Xxxxxxxxxx (the “Lender”) is effective as of this 10th day of March 2023.
WHEREAS, the Company has previously issued to the Lender a 10% Convertible Note (the “Note”) in the principal amount of up to $6,000,000 dated and effective as of March 10, 2022;
WHEREAS, the Lender has assigned the Note to Xxxxxxx Xxxxx Revocable Trust (the “Holder”);
WHEREAS, the Company and the Holder wish to extend the Maturity Date of the Note;
NOW THEREFORE, the Company and the Holder hereby agree as follows:
1. | Extension of Maturity Date. The Maturity Date of the Note is hereby extended until September 10, 2023. | |
2. | Update of Schedule A. Schedule A to the Note has been updated as per Schedule A attached hereto. | |
3. | Capitalized Terms. Capitalized terms used herein and not otherwise defined shall have the meanings ascribed in the Note. | |
4. | Counterparts. This Amendment may be executed in multiple counterparts, each of which shall be an original, but all of this shall be deemed to constitute one instrument. |
IN WITNESS WHEREOF, the undersigned have executed this Amendment No. 1 as of March 10, 2023.
COMPANY | ||
Cell Source, Inc. | ||
By: | /s/ Xxxxxx Xxxxxxx | |
Name: | Xxxxxx Xxxxxxx | |
Title: | President and Chief Executive Officer | |
HOLDER | ||
Xxxxxxx Xxxxx Revocable Trust | ||
By: | /s/ Xxxxxxx Xxxxx | |
Name: | Xxxxxxx Xxxxx | |
Title: | Trustee |
Schedule A
Schedule of Loans and Payments
Date | Amount of Loan | Amount of Principal Paid | Balance Remaining Unpaid | Notation Made By | ||||||||||||
03-10-2022 | $ | 1,000,000 | -0- | $ | 1,000,000 | |||||||||||
09-13-2022 | $ | 1,000,000 | -0- | $ | 2,000,000 | |||||||||||
11-03-2022 | $ | 500,000 | -0- | $ | 2,500,000 | |||||||||||
02-28-2023 | $ | 413,018 | * | -0- | $ | 2,913,018 | ||||||||||
04-14-2023 | $ | 250,000 | -0- | $ | 3,163,018 | |||||||||||
05-17-2023 | $ | 100,000 | -0- | $ | 3,263,018 |
*Represents amounts paid by Xxxxxx to third parties in June 2023 and characterized as advances under the Note on February 28, 2023.