Company: SONM
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009749
Chunk: 11

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 11
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$210, which consisted of legal costs and placement fees.

If
the Note remains outstanding on the 90-day anniversary of the issuance, the Company will incur a one-time monitoring fee equal to the
difference between (i) the outstanding balance of the Note divided by 0.85 (as minuend), and (ii) the outstanding balance of the Note
(as subtrahend).

Interest
under the Note accrues at a rate of 9% per annum. The unpaid amount of the Note, any interest, fees, charges, and late fees are due 18
months following the date of issuance. The Company may prepay all or any portion of the outstanding balance of the Note. If the Company
elects to prepay the Note in part, it will be required to pay to the Lender an amount in cash equal to 110% of the portion of the outstanding
balance the Company elects to prepay.

Commencing
six months after the date of issuance of the Note and at any time thereafter until the Note is paid in full, the Lender will have the
right to redeem up to $330 under the Note per calendar month. The Company must pay the redeemed amount in cash within three trading days
of receiving a redemption notice. On three separate occasions and not more than once every 90 calendar days, the Company may defer any
redemptions the Lender could otherwise make during a calendar month, provided, however, that each deferral increases the outstanding
balance of the Note by 1%.

    10

At
any time following the occurrence of a Major Trigger Event or Minor Trigger Event (each as defined in the Note), the Lender may increase
the outstanding balance of the Note by 15% for each occurrence of any Major Trigger Event and 5% for each occurrence of any Minor Trigger
Event (the “Trigger Effect”), provided that the Trigger Effect may only be applied three times with respect to Major Trigger
Events and three times with respect to Minor Trigger Events.

Subject
to certain exceptions described below, if the Company fails to cure a Trigger Event within five trading days following the date of transmission
of written demand notice by the Lender, the Trigger Event will automatically become an Event of Default (as defined in the Note). Following
the occurrence of any Event of Default, the Lender may, upon written notice to the Company, (i) accelerate the Note, with the outstanding
balance of the Note following application of the Trigger Effect (the