SEC Contract Filing

Filing Date: 2025-04-04

Document Content:
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<TYPE>EX-10
<SEQUENCE>2
<FILENAME>ex_10-1.htm
<DESCRIPTION>AMENDMENT NO. 1 TO LOAN AND SECURITY AGREEMENT - HSBC VENTURES USA INC.
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>EXHIBIT 10.1</U></B></P>

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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">AMENDMENT NO. 1 TO LOAN AND SECURITY AGREEMENT</P>

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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">This Amendment No. 1 to Loan and
Security Agreement (this &ldquo;<U>Amendment</U>&rdquo;) is dated as of March 31, 2025, by and between KORU MEDICAL SYSTEMS, INC., a Delaware
corporation (&ldquo;<U>Borrower</U>&rdquo;) and HSBC VENTURES USA INC., a Delaware corporation (&ldquo;<U>Bank</U>&rdquo;).</P>

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 <TD STYLE="width: 0.25in; text-align: justify; text-indent: 0in">1.</TD>
 <TD STYLE="width: 5.75in; text-align: justify; text-indent: 0in">Reference is made to that certain Loan and Security Agreement dated as of March 8, 2024, by and between Borrower and Bank (as may be amended, modified, supplemented, or restated from time to time, the &ldquo;<U>Agreement</U>&rdquo;). Capitalized terms used but not defined in this Amendment shall have the meaning given to such terms in the Agreement.</TD></TR>
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 <TD STYLE="text-align: justify; text-indent: 0in">2.</TD>
 <TD STYLE="text-align: justify; text-indent: 0in">Subject to the satisfaction of the conditions precedent set forth in Section 5 below and effective as of the date hereof, the Agreement is hereby amended as follows:</TD></TR>
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 <TD STYLE="width: 0.5in; text-align: justify; text-indent: 0in">(a)</TD>
 <TD STYLE="width: 5.25in; text-align: justify; text-indent: 0in"><U>Section 1.1 (Definitions)</U>. The following terms and their respective definitions set forth in Section 1.1 of the Agreement are amended in their entirety and replaced with the following:</TD></TR>
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 <TD STYLE="text-align: justify">&ldquo;&nbsp;&nbsp;&nbsp;&ldquo;<B>Draw Period</B>&rdquo; is the period of time commencing upon the Effective Date and continuing through the earlier to occur of (a) December 31, 2025 or (b) an Event of Default.&rdquo;</TD></TR>
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 <TD STYLE="text-align: justify">&ldquo;&nbsp;&nbsp;&nbsp;&ldquo;<B>Revolving Line Maturity Date</B>&rdquo; is December 31, 2026.&rdquo;</TD></TR>
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 <TD STYLE="text-align: justify">&ldquo;&nbsp;&nbsp;&nbsp;&ldquo;<B>Term Loan Amortization Date</B>&rdquo; means October 1, 2026.&rdquo;</TD></TR>
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 <TD STYLE="text-align: justify; text-indent: 0in">(b)</TD>
 <TD STYLE="text-align: justify; text-indent: 0in"><U>Section 1.1 (Definitions)</U>. The following new term and its respective definition is inserted alphabetically to appear in in Section 1.1 of the Agreement:</TD></TR>
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 <TD STYLE="text-align: justify">&ldquo;&nbsp;&nbsp;&nbsp;&ldquo;<B>Testing Date</B>&rdquo; means (a) prior to the Funding Date of the initial Advance, the last day of each calendar quarter and (b) on and after the Funding Date of the initial Advance, the last day of each calendar month.&rdquo;</TD></TR>
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