MONAKER GROUP, INC. 10-Q


Exhibit 10.16


 


 


SECOND
AMENDMENT TO PROMISSORY NOTE


 


This
Second Amendment to Promissory Note (this “Agreement”), entered into on September 15, 2020 and effective
August 14, 2020 (the “Effective Date”), amends that certain First Amendment to Promissory Note dated
April 16, 2020, as amended by the First Amendment to Promissory Note relating thereto effective April 14, 2020 (as amended to
date, the “Note”), by and between Crystal Falls Investments LLC (“Borrower”)
and Monaker Group, Inc., a Nevada company (“Lender”). Certain capitalized terms used below but not otherwise
defined shall have the meanings given to such terms in the Note.


 


WHEREAS,
Borrower and Lender desire to amend the Note on the terms and conditions set forth


below.


 


NOW,
THEREFORE, in consideration of the premises and the mutual covenants, agreements, and considerations herein contained, and
other good and valuable consideration, which consideration the parties hereby acknowledge and confirm the receipt and sufficiency
thereof, the parties hereto agree as follows:


 


1.       Amendment
to Note. Effective as of the Effective Date, the “Maturity Date” of the Note shall be amended
from “August 14, 2020” to “February 14, 2021”, and each reference in the Note
to Maturity Date shall refer to such Maturity Date as amended and extended hereby.


 


2.       Consideration.
Each of the parties agrees and confirms by signing below that they have received valid consideration in connection with this Agreement
and the transactions contemplated herein.


 


3.       Effect
of Agreement; Note to Continue in Full Force and Effect. Upon the effectiveness of this Agreement, each reference in the
Note to “Note”, “Agreement,” “hereunder,” “hereof,”
“herein” or words of like import shall mean and be a reference to such Note as modified or amended hereby.
Except as specifically modified or amended herein, the Note and the terms and conditions thereof shall remain in full force and
effect.


 


4.       Entire
Agreement. This Agreement sets forth all of the promises, agreements, conditions, understandings, warranties and representations
among the parties with respect to the transactions contemplated hereby and thereby, and supersedes all prior agreements, arrangements
and understandings between the parties, whether written, oral or otherwise.


 


5.       Counterparts
and Signatures. This Agreement and any signed agreement or instrument entered into in connection with this Agreement,
and any amendments hereto or thereto, may be executed in one or more counterparts, all of which shall constitute one and the same
instrument. Any such counterpart, to the extent delivered by means of a facsimile machine or by .pdf, .tif, .gif, .jpeg or similar
attachment to electronic mail shall be treated in all manner and respects as an original executed counterpart and shall be considered
to have the same binding legal effect as if it were the original signed version thereof delivered in person.


 


IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written to be effective
as of the Effective Date.


 





	Borrower:	 	Lender:
	 	 	 
	Crystal Falls Investments, LLC	 	Monaker Group, Inc.
	 	 	 
	 	 	 
	By:	 	 	By:	 
	Ashvin Mascarenhas	 	Bill Kerby
	Managing Member	 	Chief Executive Officer