Attached files
| file | filename |
|---|---|
| 8-K - Indoor Harvest Corp | form8-k.htm |
Exhibit 10.1
AMENDMENT #4
TO THE $550,000 PROMISSORY NOTE DATED JANUARY 16, 2018
The parties agree that the $550,000 Fixed Convertible Promissory Note (the “Note”) by and between Indoor Harvest Corp. (the “Borrower”) and Tangiers Global, LLC (the “Lender”) is hereby amended as follows:
| 1. | Payment. The Lender shall make a payment to the Borrower of $101,750 of Consideration ($92,500 in cash and $9,250 in an OID) under the Note on or before July 27, 2018. |
| 2. | Use of Proceeds. The Company covenants that it will within, 1.5 month(s) of the Effective Date of this Consideration, it shall use approximately $92,500 of the proceeds in the manner set forth below (the “Use of Proceeds”): |
$54,000 G&A, $25,000 accounting and legal and $13,500 misc.
| 3. | Independent Transactions. The Borrower understands and agrees that the Note sets forth the terms for a series of independent transactions in which the Lender may elect to make a payment of Consideration to the Borrower with each payment of Consideration creating a separate obligation of the Borrower to the Lender with the terms set forth in the Note. Accordingly, the Maturity Date of each payment of Consideration, and the repayment terms for each payment of Consideration, are as set forth in the Note. |
| 4. | The Borrower confirms that it has not undertaken any capital raise, whether through debt or equity, with any other party since the Effective Date of the Note. |
ALL OTHER TERMS AND CONDITIONS OF THE NOTE REMAIN IN FULL FORCE AND EFFECT.
Please indicate acceptance and approval of this amendment dated July 27, 2018 by signing below:
| /s/Chad Sykes | /s/Justin Ederle | |||
| Indoor Harvest Corp. | Tangiers Global, LLC | |||
| By: | Chad Sykes | By: | Justin Ederle | |
| Its: | Principal Financial Officer | Its: | Managing Member | |