Document:

Exhibit 10.132

 

EXECUTION VERSION

 

AMENDMENT NO. 1 TO UNSECURED PROMISSORY
NOTE

 

This Amendment No.
1 to Unsecured Promissory Note (the "Amendment") is made as of this 5th day of April, 2016, by and between TWINLAB CONSOLIDATED
HOLDINGS, INC., a Nevada corporation ("Maker"), and GOLISANO HOLDINGS LLC, a New York limited liability company
("Holder").

 

WHEREAS, the
Maker is indebted to the Holder under a certain Unsecured Promissory Note in the principal amount of Seven Million Dollars ($7,000,000)
dated March 21, 2016 (the "Note"); and

 

WHEREAS, the
Borrower and the Holder have agreed to amend the Note in accordance with this Amendment.

 

NOW, THEREFORE,
the parties hereto agree as follows:

 

1.          Section
2.01(c) of the Note is hereby restated in its entirely to read as follows:

 

(c)          The
occurrence of (x)(i) a default or an event of default with respect to any indebtedness of Maker for borrowed money that accrues
interest, including, but not limited to Midcap Funding X Trust, Penta Mezzanine SBIC Fund I, L.P., JL-Mezz Utah, LLC, JL Properties,
Inc., Holder, Great Harbor Capital, LLC ("Great Harbor") and JL-Utah Sub, LLC (“JL-US”) and (ii) such
indebtedness is accelerated by the creditor or (y) for the non-payment of indebtedness of Maker for borrowed money at its scheduled
final maturity (including any extension or refinancings thereof);

 

2.          Section
3.11 of the Note is hereby restated in its entirely to read as follows:

 

3.11         Pari
Passu Notes. Maker and Holder acknowledge and agree that the payment of all or any portion of the outstanding principal
amount of this Note and all interest hereon shall be pari passu in right of payment and in all other respects to that certain
Unsecured Promissory Note, dated as of March 21, 2016 (the "Second Holder Note"), in the original principal
amount of $7,000,000 issued by Maker to Holder, that certain Unsecured Promissory Note, dated as of January 28, 2016 (the "First
Great Harbor Note"), in the original principal amount of $2,500,000 issued by Maker to Great Harbor, that certain Unsecured
Promissory Note, dated as of March 21, 2016, in the original principal amount of $7,000,000 issued by Maker to Great Harbor (the
"Second Great Harbor Note" and collectively with the First Great Harbor Note, the "Great Harbor Notes"),
and that certain promissory note, dated as of April 5, 2016, in the original principal amount of $500,000 issued by Maker to JL-US
(the “JL-US Note”). All payments of principal and interest on the Notes shall be made pro rata based on the
unpaid principal balance under this Note, the Second Holder Note, the Great Harbor Notes and the JL-US Note. If Holder receives
any payment or other amount in excess of that which it is entitled to under this Section 3.11, it shall, and shall be deemed to,
hold such excess amount in trust for the benefit of Great Harbor and JL-US to the extent each is entitled thereto and shall pay
such excess amount over to Great Harbor and/or JL-US as promptly as practicable. Maker and Holder hereby agree that Great Harbor
and JL-US are each an express third party beneficiary of this Section 3.11 and it shall not be amended or modified without the
express written consent of Great Harbor and JL-US.

 

Amendment No. 1 to Unsecured Promissory
Note (Golisano Holdings)

 

     

     

    

  

3.          Except
as expressly amended hereby, all terms and conditions of the Note shall remain in full force and effect.

 

4.          Upon
the effectiveness of this Amendment, each reference in the Note to "the Note," "this Note," "hereunder,"
"hereof," "herein," or words of similar import shall mean and be a reference to the Note, as amended by this
Amendment.

 

5.          This
Amendment constitutes the entire agreement and understanding between the parties hereto with respect to the subject matter hereof
and supersedes all prior negotiations, understandings, and agreements between such parties with respect to the subject matter hereof.
To the extent of any conflict between the terms and conditions of this Amendment and the Note, the terms and conditions of this
Amendment shall govern.

 

6.          This
Amendment may be executed in one or more counterparts, including by means of facsimile and/or portable document format, each of
which shall be an original and all of which shall together constitute one and the same document.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 	2	 

     

    

 

EXECUTION VERSION

 

IN WITNESS WHEREOF,
Maker and Holder have executed this Amendment as of the date first above written.

 

	 	TWINLAB CONSOLIDATED HOLDINGS, INC.
	 	 	 
	 	By:  	/s/ Naomi Whittel
	 	 	Name:  Naomi Whittel
	 	 	Title:    Chief Executive Officer
	 	 	 
	 	GOLISANO HOLDINGS LLC
	 	 	 
	 	By:	/s/ B. Thomas Golisano
	 	 	B. Thomas Golisano
	 	 	Title:  Member

 

Amendment No. 1 to Unsecured Promissory
Note (Golisano Holdings)Exhibit 10.133

 

EXECUTION VERSION

 

AMENDMENT NO. 2 TO UNSECURED PROMISSORY
NOTE

 

This Amendment
No. 2 to Unsecured Promissory Note (the "Amendment") is made as of this 5th day of April, 2016, by and between
TWINLAB CONSOLIDATED HOLDINGS, INC., a Nevada corporation ("Maker"), and GREAT HARBOR CAPITAL, LLC, a
Delaware limited liability company ("Holder").

 

WHEREAS, the
Maker is indebted to the Holder under a certain Unsecured Promissory Note in the principal amount of Two Million Five Hundred Thousand
Dollars ($2,500,000) dated January 28, 2016 (the "Note"); and

 

WHEREAS, the
Borrower and the Holder have agreed to amend the Note in accordance with this Amendment.

 

NOW, THEREFORE,
the parties hereto agree as follows:

 

1.          Section
2.01(c) of the Note is hereby restated in its entirely to read as follows:

 

(c)          The
occurrence of (x)(i) a default or an event of default with respect to any indebtedness of Maker for borrowed money that accrues
interest, including, but not limited to Midcap Funding X Trust, Penta Mezzanine SBIC Fund I, L.P., JL-Mezz Utah, LLC, JL Properties,
Inc., Holder, Golisano Holdings LLC ("Golisano Holdings") and JL-Utah Sub, LLC (“JL-US”) and (ii)
such indebtedness is accelerated by the creditor or (y) for the non-payment of indebtedness of Maker for borrowed money at its
scheduled final maturity (including any extension or refinancings thereof);

 

2.          Section
3.11 of the Note is hereby restated in its entirely to read as follows:

 

3.11         Pari
Passu Notes. Maker and Holder acknowledge and agree that the payment of all or any portion of the outstanding principal
amount of this Note and all interest hereon shall be pari passu in right of payment and in all other respects to that certain
Unsecured Promissory Note, dated as of March 21, 2016 (the "Second Holder Note"), in the original principal
amount of $7,000,000 issued by Maker to Holder, that certain Unsecured Promissory Note, dated as of January 28, 2016 (the "First
Golisano Holdings Note"), in the original principal amount of $2,500,000 issued by Maker to Golisano Holdings, that
certain Unsecured Promissory Note, dated as of March 21, 2016, in the original principal amount of $7,000,000 issued by Maker to
Golisano Holdings (the "Second Golisano Holdings Note" and collectively with the First Golisano Holdings Note,
the "Golisano Holdings Notes"), and that certain promissory note, dated as of April 5, 2016, in the original
principal amount of $500,000 issued by Maker to JL-US (the “JL-US Note”). All payments of principal and interest
on the Notes shall be made pro rata based on the unpaid principal balance under this Note, the Second Holder Note, the Golisano
Holdings Notes and the JL-US Note. If Holder receives any payment or other amount in excess of that which it is entitled to under
this Section 3.11, it shall, and shall be deemed to, hold such excess amount in trust for the benefit of Golisano Holdings and
JL-US to the extent each is entitled thereto and shall pay such excess amount over to Golisano Holdings and/or JL-US as promptly
as practicable. Maker and Holder hereby agree that Golisano Holdings and JL-US are each an express third party beneficiary of this
Section 3.11 and it shall not be amended or modified without the express written consent of Golisano Holdings and JL-US.

 

Amendment No. 2 to Unsecured Promissory
Note (Great Harbor)

 

     

     

    

  

3.          Except
as expressly amended hereby, all terms and conditions of the Note shall remain in full force and effect.

 

4.          Upon
the effectiveness of this Amendment, each reference in the Note to "the Note," "this Note," "hereunder,"
"hereof," "herein," or words of similar import shall mean and be a reference to the Note, as amended by this
Amendment.

 

5.          This
Amendment constitutes the entire agreement and understanding between the parties hereto with respect to the subject matter hereof
and supersedes all prior negotiations, understandings, and agreements between such parties with respect to the subject matter hereof.
To the extent of any conflict between the terms and conditions of this Amendment and the Note, the terms and conditions of this
Amendment shall govern.

 

6.          This
Amendment may be executed in one or more counterparts, including by means of facsimile and/or portable document format, each of
which shall be an original and all of which shall together constitute one and the same document.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 	2	 

     

    

 

EXECUTION VERSION

 

IN WITNESS WHEREOF,
Maker and Holder have executed this Amendment as of the date first above written.

 

	 	TWINLAB CONSOLIDATED HOLDINGS, INC.
	 	 
	 	By:	/s/ Naomi Whittel
	 	 	Name:  Naomi Whittel
	 	 	Title:   Chief Executive Officer
	 	 
	 	GREAT HARBOR CAPITAL, LLC
	 	 
	 	By:	/s/ Mark J. Bugge
	 	 	Mark J. Bugge
	 	 	Title: Secretary

 

Amendment No. 2 to Unsecured Promissory
Note (Great Harbor)

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