Financing ·
Onfolio agrees to $915,754 forbearance plan for $850,000 note after payment failure
ONFOWOnfolio Holdings, Inc
Onfolio Holdings and its subsidiary Eastern Standard entered into a Limited Forbearance Agreement with the Payee regarding an $850,000 promissory note related to the acquisition of the Eastern Standard business. The agreement resolves a payment default by requiring an initial payment of $450,000 by October 31, 2026, followed by monthly payments of $60,000 starting December 1, 2026, and a final payment of $45,754.29 on July 1, 2027, totaling $915,754.29 inclusive of interest and late charges. The Payee agrees to forbear from exercising remedies as long as payments are timely made within a ten-day cure period; failure to meet these obligations allows the Payee to enforce security interests and the company's guaranty. Onfolio Holdings operates in the technology sector, providing software solutions for property management.