FIRST AMENDMENT TO INTERCOMPANY LOAN AGREEMENT
Exhibit 10.2
FIRST AMENDMENT TO
INTERCOMPANY LOAN
AGREEMENT
THIS
FIRST AMENDMENT TO INTERCOMPANY
LOAN AGREEMENT (“Amendment”) is made and
entered into on this 1st day of May, 2016
(“Effective
Date”) by and between NaturalShrimp Holdings, Inc., a
Delaware corporation (“NSH”), and NaturalShrimp
Incorporated, a Nevada corporation (“NSI”). NSH and NSI may be
collectively referred to in this Amendment as the
“Parties.”
1. Purpose. The Parties
acknowledge and agree that this Amendment is made and entered into
for the purpose of modifying certain terms and/or conditions of the
Intercompany Loan Agreement entered into by the Parties on January
1, 2016 (the “Agreement”). The terms and conditions set
forth in this Amendment shall supersede and replace the provisions
of the Agreement identified herein. All terms and conditions of the
Agreement not modified by this Amendment shall remain in full force
and effect as set forth in the Agreement. To the extent there is
any conflict or inconsistency between any term or provision in this
Amendment and any term or provision of the Agreement, the term or
provision of this Amendment shall control. All capitalized terms
set forth in this Amendment shall have the same meanings as set
forth in the Agreement.
2. Modification. Section 1.1 of
the Agreement is amended in its entirety and should be replaced
with the following:
“1.1.
The Lender agrees
to make loans (individually an “Advance” and
collectively the “Loan”) to the Borrower. This
particular Advance and the amount of the Loan outstanding shall be
denominated in US Dollars and the maximum amount of the Loan
advanced shall not exceed $750,000 (Seven Hundred Fifty Thousand
Dollars) US Dollars (“Maximum Loan
Amount”).”
IN
WITNESS WHEREOF, the Parties have executed this Agreement as of the
Effective Date.
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NATURALSHRIMP
HOLDINGS, INC.
a Delaware
Corporation
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By:
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/s/
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Name:
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Its: |
President and
Director
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By:
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Name: |
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Its:
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Chief
Executive Officer
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NATURALSHRIMP
INCORPORATED
a Nevada
Corporation
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By:
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Name: |
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Its:
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Director
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