AGREEMENT TO ACCEPT COLLATERAL IN FULL SATISFACTION OF OBLIGATIONSAgreement to Accept Collateral in Full Satisfaction of Obligations • May 7th, 2020 • MAGELLAN GOLD Corp • Metal mining • Colorado
THIS AGREEMENT TO ACCEPT COLLATERAL IN FULL SATISFACTION OF OBLIGATIONS (“Agreement”) is made and entered into, effective March 31, 2020 (“Effective Date”) by and between the undersigned noteholders (hereinafter each is referred to as “Lender” or “Secured Party” and collectively “Lenders” or “Secured Parties”), JOHN GIBBS, as Collateral Agent, and MAGELLAN GOLD CORPORATION, a Nevada corporation (hereinafter referred to as “Debtor” or as the “Corporation”).
