BranchOut Food (US:BOF)2026-01-30 21:05Financial Obligations - The Company issued a Senior Secured Promissory Note for a principal amount of $1,500,000, maturing on January 28, 2027[2]. - The interest rate on the outstanding principal amount is set at 8% per annum[4]. - The Company has the option to prepay the Note without premium or penalty, with accrued interest to the date of prepayment[3]. - The Company cannot incur additional indebtedness beyond certain permitted exceptions, including a $34,500 Promissory Note to the SBA[10]. - The Company is responsible for all out-of-pocket expenses incurred by the Payee and its affiliates, including legal fees[20]. Corporate Governance - The Company is obligated to maintain its corporate existence and comply with applicable laws[9]. - The Company is restricted from liquidating, dissolving, or merging without the Holder's consent[10]. - The Company must provide quarterly and annual financial statements to the Holder within specified timeframes[9]. - The Company is prohibited from declaring or paying dividends on its outstanding capital stock[10]. Legal Provisions - Events of Default include non-payment of obligations and failure to perform covenants[12]. - The Note is governed by the laws of the State of Nevada[18]. - The Company has waived the right to a jury trial in any litigation related to this Note or associated documents[19]. - The Note has been executed by the Chief Executive Officer of the Company, Eric Healy[23].