Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
BranchOut Food Inc. entered into Assignment Of Credit and Substitution of Mortgagee with assignor valued at purchased a first position mortgage receivable in the amount of $1,267,000 for a purchase price of $ (effective 2024-05-10).
- Action
- entry
- Counterparty
- assignor
- Value
- purchased a first position mortgage receivable in the amount of $1,267,000 for a purchase price of $
- Effective
- 2024-05-10
Exact text from the filing
In connection with the Company’s lease of the Peru Facility, on May 10, 2024 the Company entered into a Assignment Of Credit and Substitution of Mortgagee (the “Assignment Agreement”), under which the Company purchased a first position mortgage receivable in the amount of $1,267,000, which is secured by the Peru Facility and was owed by the landlord of the Peru Facility to the assignor, for a purchase price of $1,267,000, of which $275,000 was paid by the Company to the assignor on May 10, 2024.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
BranchOut Food Inc. entered into Lease Agreement with landlord of Peru Facility valued at monthly lease payments of $8,000 in first two years, $20,000 in third year, $22,000 in fourth year, (effective 2024-05-10).
- Action
- entry
- Agreement
- lease
- Counterparty
- landlord of Peru Facility
- Value
- monthly lease payments of $8,000 in first two years, $20,000 in third year, $22,000 in fourth year,
- Effective
- 2024-05-10
Exact text from the filing
On May 10, 2024, BranchOut Food Inc. (the “Company”) entered into a Lease Agreement (the “Lease Agreement”) providing for the 10-year lease by the Company of a 50,000 square-foot food processing plant located in Peru (the “Peru Facility”).
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