[System.Reflection.Assembly]::LoadWithPartialName("Microsoft.SharePoint.Client") #| Out-Null
[System.Reflection.Assembly]::LoadWithPartialName("Microsoft.SharePoint.Client.Runtime") #| Out-Null
Add-Type -Path "c:Program FilesSharePoint Online Management ShellMicrosoft.Online.SharePoint.PowerShellMicrosoft.Online.SharePoint.Client.Tenant.dll"
cls

$username = "login@domain.com"
$password = ConvertTo-SecureString "" -AsPlainText -Force

$siteUrl = [string]::Format("https://company.sharepoint.com/sites/site1/")
$cc = New-Object Microsoft.SharePoint.Client.ClientContext($siteUrl)
$cc.Credentials = New-Object Microsoft.SharePoint.Client.SharePointOnlineCredentials($username, $password)

$list = $cc.Web.GetList("/sites/site1/Lists/List1")
$cc.Load($list);
$cc.ExecuteQuery();

$query = New-Object Microsoft.SharePoint.Client.CamlQuery
$query.ViewXml = "<View><RowLimit>100</RowLimit></View>"
$i = 1
$y = 0

do
{
    Write-Host "Round $i" -ForegroundColor DarkYellow
    $listItems = $list.GetItems($query);
    $cc.Load($listItems);
    $cc.ExecuteQuery();
    foreach($item in $listItems)
    {
            Write-Host "Updating item $($item.Id)" #"$($item.DisplayName)" -ForegroundColor Yellow
            # Update item here
            $item.Update()
            $y++

            if($y -eq 10)
            {
                $cc.ExecuteQuery()
                $y=0
            }
    }
    $query.ListItemCollectionPosition = $listItems.ListItemCollectionPosition
    $i++
}
while ($query.ListItemCollectionPosition -ne $null)