WAIVER AND FIRST AMENDMENT TO CREDIT AND SECURITY AGREEMENTCredit and Security Agreement • May 25th, 2023 • Singing Machine Co Inc • Phonograph records & prerecorded audio tapes & disks • Illinois
THIS WAIVER AND FIRST AMENDMENT TO CREDIT AND SECURITY AGREEMENT (this “Amendment”) is made and entered into this 19th day of May, 2023 by and between Fifth Third Bank (“Lender”), THE SINGING MACHINE COMPANY, INC., a Delaware corporation (“SMCI”) and SMC LOGISTICS, INC., a California corporation (“Logistics”) (hereinafter SMCI and Logistics are sometimes collectively referred to as “Borrowers” or individually referred to as a “Borrower”).
