# EDGAR Filing Document

**Accession Number:** 0001771706
**File Stem:** 0001104659-26-034509
**Filing Date:** 2026-3
**Character Count:** 1398677
**Document Hash:** 7f3b840d1fb3f034fbfd0d4488257b1f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-034509.hdr.sgml**: 20260325

**ACCESSION NUMBER**: 0001104659-26-034509

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 19

**CONFORMED PERIOD OF REPORT**: 20260319

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Completion of Acquisition or Disposition of Assets

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260325

**DATE AS OF CHANGE**: 20260325

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Vireo Growth Inc.
- **CENTRAL INDEX KEY:** 0001771706
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56225
- **FILM NUMBER:** 26792435

**BUSINESS ADDRESS:**
- **STREET 1:** 207 SOUTH 9TH STREET
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402
- **BUSINESS PHONE:** 604-617-5421

**MAIL ADDRESS:**
- **STREET 1:** 207 SOUTH 9TH STREET
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Goodness Growth Holdings, Inc.
- **DATE OF NAME CHANGE:** 20210607

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Vireo Health International, Inc.
- **DATE OF NAME CHANGE:** 20190326

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **March 19, 2026**

**VIREO GROWTH INC.**

(Exact name of registrant as specified in its charter)

**British Columbia**

(State or other jurisdiction of Incorporation)

---

| | |
|:---|:---|
| **000-56225** | **82-3835655** |
| (Commission File Number) | (IRS Employer Identification No.) |
| **207 South 9th Street**<br> **Minneapolis, Minnesota** | **55402** |
| (Address of principal executive offices) | (Zip Code) |

---

**<u>(612) 999-1606</u>**

(Registrant's telephone number, including area code)

**<u>Not Applicable</u>**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| N/A | N/A | N/A |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

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| | |
|:---|:---|
| **Item 1.01** | **Entry into a Material Definitive Agreement**. |

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The information under Item 2.01 below related to the LSA (as defined herein), to the extent responsive to Item 1.01, is incorporated by reference herein.

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| | |
|:---|:---|
| **Item 2.01** | **Completion of Acquisition or Disposition of Assets** |

---

As previously disclosed, in connection with the acquisition of a majority of the outstanding principal amount of 13% Senior Secured Convertible Notes due December 7, 2026 (the "**Senior Secured Notes**") of Medicine Man Technologies, Inc. d/b/a Schwazze ("**Schwazze**"), Vireo Health of Colorado, LLC, a Colorado limited liability company ("**VHC**") and wholly-owned subsidiary of Vireo Growth Inc. (the "**Company**"), entered into a restructuring support agreement (the "**RSA**") with Schwazze and certain related entities on October 10, 2025. Prior to the closing of the Asset Sale (as defined below), a wholly owned subsidiary of the Company, CO Acquisition Vehicle, LLC, a Delaware limited liability company ("**CO Acquisition**"), acquired the remaining Senior Secured Notes, and as of the closing of the Asset Sale, the Company indirectly held all of the issued and outstanding Senior Secured Notes.

The RSA set forth a plan to restructure the operations and capital structure of Schwazze and its subsidiaries through a series of transactions, including, but not limited to (i) the purchase of certain assets representing a majority of the total assets of Schwazze and its subsidiaries (the "**Asset Sale**") by a newly-formed entity, Vireo Health of Rocky Mountain, LLC, a Delaware limited liability company ("**NewCo**"), that, as of the closing of the Asset Sale, is majority owned indirectly by the Company, and (ii) the liquidation of Schwazze's remaining assets and winding down of Schwazze's remaining operations after consummation of the Asset Sale.

The RSA provided for the Asset Sale to be effected by way of a public disposition of collateral pursuant to §§ 9-610 and 9-611 of the Uniform Commercial Code. As previously disclosed, on November 13, 2025, a public auction of Schwazze's collateral was completed, and the collateral agent under the indenture governing the Senior Secured Notes, acting at the direction of VHC, credit bid approximately $111 million principal amount of Senior Secured Notes on behalf of VHC and other noteholders (the "**Credit Bid**"). The Credit Bid was determined to be the winning bid upon conclusion of the auction. Following, the auction, Schwazze entered into an asset purchase agreement with NewCo and certain other parties on November 13, 2025 (as amended, the "**Asset Purchase Agreement**").

On February 27, 2026, CO Acquisition was acquired by VHC pursuant to a membership interest purchase agreement. Prior to the acquisition, CO Acquisition entered into a First Amendment to Loan and Security Agreement (the "**CO Acquisition LSA Amendment**") on February 26, 2026, which amended a Loan and Security Agreement, dated as of September 30, 2025 (as amended, the "**CO Acquisition LSA**") by and among CO Acquisition as borrower, Chicago Atlantic Admin, LLC, as administrative agent and the lenders party thereto (the "**CO Acquisition Lenders**"). The CO Acquisition LSA provides for a term loan facility with a total principal commitment of $26,000,000, of which $25,000,000 was advanced on the closing date of the CO Acquisition LSA with $10,000,000 disbursed to the borrower and $15,000,000 held in reserve. Pursuant to the CO Acquisition LSA Amendment, the CO Acquisition Lenders released the remaining $15,000,000 held in reserve to be used by CO Acquisition to fund its commitment as a lender under the LSA. The outstanding principal balance bears interest at a fixed rate of 20.0% per annum. The default rate of interest is equal to the interest rate *plus* 10.0% per annum. All interest accrued from the date of the CO Acquisition LSA Amendment until June 3, 2026 is payable in kind. Thereafter, interest will be paid monthly. If the loans are prepaid in an amount equal to $16,000,000 or more or accelerated on or before March 30, 2027, the borrowers must pay a make-whole amount equal to all interest that would have accrued through March 30, 2027. The maturity date of the CO Acquisition LSA is December 31, 2029. The loans are secured by a first-priority lien on substantially all assets of CO Acquisition. The foregoing description of the CO Acquisition LSA is only a summary, does not purport to be complete and is qualified in its entirety by reference to the full text of the CO Acquisition LSA, which is filed as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated herein by reference.

On March 19, 2026, pursuant to the terms of the Asset Purchase Agreement, the assets subject to the Asset Sale, consisting of 45 total dispensaries in Colorado and New Mexico and two manufacturing facilities, one in each of Colorado and New Mexico, were transferred to NewCo (and certain of its designated subsidiaries) in consideration for (i) the Credit Bid and (ii) the assumption of certain specified liabilities of Schwazze. The Credit Bid resulted in the discharge of the Senior Secured Notes at Closing. Additionally, equity interests in NewCo were distributed by the collateral agent to an indirect wholly owned subsidiary of the Company, which as of the closing of the Asset Sale, held all of the issued and outstanding Senior Secured Notes. As a result of this distribution and certain other transactions, the subsidiary of the Company became the majority owner of NewCo. The foregoing description of the Asset Purchase Agreement is only a summary, does not purport to be complete and is qualified in its entirety by reference to the full text of the Asset Purchase Agreement, which is filed as Exhibits 2.1, 2.2, 2.3 and 2.4 to this Current Report on Form 8-K, which is incorporated herein by reference.

On March 19, 2026, NewCo entered into a Loan and Security Agreement (the "**LSA**") with Chicago Atlantic Financial Services, LLC, as administrative agent, the lenders party thereto (the "**Lenders**") and NewCo's existing subsidiaries, as guarantors. The Lenders provided a senior secured term loan facility comprised of two tranches. The Tranche A Term Loan is approximately $50 million in aggregate principal amount, of which CO Acquisition, as lender, holds approximately $5.5 million, and the Tranche B Term Loan is approximately $12.7 million in aggregate principal amount and is held in its entirety by CO Acquisition. Both tranches were advanced in full on the closing date. The Tranche A maturity date is December 31, 2031, and the Tranche B maturity date is December 31, 2033. The loans bear interest at a fixed rate of 12.0% per annum. Interest is payable semi-annually. The outstanding principal balance is due in full for each tranche on its respective maturity date. If the loans are prepaid or accelerated on or before June 19, 2026, the borrowers must pay a make-whole amount equal to all interest that would have accrued through June 19, 2026. The loans are secured by a first-priority lien on substantially all assets of NewCo and its existing subsidiaries, except for those assets described therein as excluded assets. The foregoing description of the LSA is only a summary, does not purport to be complete and is qualified in its entirety by reference to the full text of the LSA, which is filed as Exhibit 10.2 to this Current Report on Form 8-K, which is incorporated herein by reference.

Chicago Atlantic Admin, LLC serves as collateral agent under the indenture formerly governing the terms of the Senior Secured Notes and administrative agent under the CO Acquisition LSA. Chicago Atlantic Financial Securities, LLC serves as administrative agent under the LSA. John Mazarakis, the Company's Chief Executive Officer, is a partner of Chicago Atlantic Group, LP, an affiliate of Chicago Atlantic Admin, LLC and Chicago Atlantic Financial Securities, LLC.

A copy of the Asset Purchase Agreement has been filed to provide shareholders with information regarding its terms and conditions and is not intended to provide any factual information about the Company or Schwazze. The representations, warranties and covenants contained in the Asset Purchase Agreement have been made solely for the benefit of the parties to the Asset Purchase Agreement, and are not intended as statements of fact to be relied upon by the Company's shareholders, but rather as a way of allocating the risk between the parties to the Asset Purchase Agreement in the event the statements therein prove to be inaccurate. Statements made in the Asset Purchase Agreement have been modified or qualified by certain confidential disclosures that were made between the parties in connection with the negotiation of the Asset Purchase Agreement, which disclosures are not reflected in the Asset Purchase Agreement attached hereto. Moreover, such statements may no longer be true as of a given date and may apply standards of materiality in a way that is different from what may be viewed as material by shareholders. Accordingly, shareholders should not rely on the representations, warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the Company or Schwazze. Moreover, information concerning the subject matter of the representations and warranties may change after the date of the Asset Purchase Agreement, which subsequent information may or may not be fully reflected in the Company's public disclosures. The Company acknowledges that, notwithstanding the inclusion of the foregoing cautionary statements, it is responsible for considering whether additional specific disclosures of material information regarding material contractual provisions are required to make the statements in this Current Report on Form 8-K not misleading.

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| | |
|:---|:---|
| **Item 2.03** | **Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant**. |

---

The information under Item 2.01 above related to the CO Acquisition LSA and the LSA, to the extent responsive to Item 2.03, is incorporated by reference herein.

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| | |
|:---|:---|
| **Item 7.01** | **Regulation FD Disclosure** |

---

On March 24, 2026, the Company issued a press release announcing the matters disclosed in this Current Report on Form 8-K, which is attached as Exhibit 99.1 hereto and is incorporated herein solely for purposes of this Item 7.01 disclosure.

Pursuant to the rules and regulations of the Securities and Exchange Commission, the information in this Item 7.01 disclosure, including Exhibit 99.1, and information set forth therein, is deemed to have been furnished and shall not be deemed to be "filed" under the Securities Exchange Act of 1934, as amended.

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| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits** |

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*(d) Exhibits.*

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| [2.1+\*](tm269781d1_ex2-1.htm) | [Asset Purchase Agreement between Medicine Man Technologies, Inc. d/b/a Schwazze, NewCo, and certain other parties thereto, dated November 13, 2025](tm269781d1_ex2-1.htm) |
| [2.2+](tm269781d1_ex2-2.htm) | [First Amendment to Asset Purchase Agreement between Newco and Chicago Atlantic Admin, LLC, dated January 29, 2026](tm269781d1_ex2-2.htm) |
| [2.3+\*](tm269781d1_ex2-3.htm) | [Second Amendment to Asset Purchase Agreement between Newco and Chicago Atlantic Admin, LLC, dated March 2, 2026](tm269781d1_ex2-3.htm) |
| [2.4\*](tm269781d1_ex2-4.htm) | [Third Amendment to Asset Purchase Agreement between Newco and Chicago Atlantic Admin, LLC, dated March 19, 2026](tm269781d1_ex2-4.htm) |
| [10.1+\*](tm269781d1_ex10-1.htm) | [First Amendment to Loan and Security Agreement by and among CO Acquisition Vehicle, LLC, as borrower, Chicago Atlantic Admin, LLC, as administrative agent and the lenders party thereto dated February 26, 2026](tm269781d1_ex10-1.htm) |
| [10.2+\*](tm269781d1_ex10-2.htm) | [Loan and Security Agreement among Vireo Health of Rocky Mountain, LLC, each Person party thereto as a Guarantor, the creditors party thereto and Chicago Atlantic Financial Services, LLC dated March 19, 2026](tm269781d1_ex10-2.htm) |
| [99.1\*\*](tm269781d1_ex99-1.htm) | [Press Release, dated as of March 24, 2026](tm269781d1_ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within Inline XBRL document) |

---

+Pursuant to Item 601(a)(5) of Regulation S-K, schedules have been omitted and will be furnished on a supplemental basis to the Securities and Exchange Commission upon request.

\*Certain confidential information has been excluded from this exhibit because it is both (i) not material and (ii) the type of information that the registrant treats as private or confidential.

\*\*Furnished herewith

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **VIREO GROWTH INC.** <br> (Registrant) | **VIREO GROWTH INC.** <br> (Registrant) |
| Date: March 25, 2026 | *By:* | */s/ Tyson Macdonald* |
|  |  | Tyson Macdonald |
|  |  | Chief Financial Officer |

---

## Exhibit 2.1

**Exhibit 2.1**

Execution Version

**<u>CERTAIN CONFIDENTIAL INFORMATION (MARKED BY BRACKETS AS "[\*\*\*]") HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE OF INFORMATION THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.</u>**

**ASSET PURCHASE AGREEMENT**

**BY AND AMONG**

**VIREO HEALTH OF ROCKY MOUNTAIN, LLC, CHICAGO ATLANTIC ADMIN, LLC, MEDICINE MAN TECHNOLOGIES, INC.**

**AND**

**THE OTHER PARTIES NAMED HEREIN**

**DATED AS OF NOVEMBER 13, 2025**

**<u>**TABLE OF CONTENTS**</u>**

<u>Page</u>

---

| | | |
|:---|:---|:---|
| **Article 1 DEFINITIONS** | **Article 1 DEFINITIONS** | **2** |
| 1.1 | Definitions | 2 |
| 1.2 | Other Definitions | 13 |
| 1.3 | Other Definitional Provisions | 15 |
| **Article 2 PURCHASE AND SALE OF ASSETS** | **Article 2 PURCHASE AND SALE OF ASSETS** | **16** |
| 2.1 | Background | 16 |
| 2.2 | Purchase and Sale of Assets. | 17 |
| 2.3 | Shared Contracts | 20 |
| 2.4 | Purchase Price; Allocation of Purchase Price | 21 |
| 2.5 | Closing | 21 |
| 2.6 | Commercial Reasonableness | 21 |
| 2.7 | Withholding | 21 |
| 2.8 | Transition Services | 21 |
| **Article 3 REPRESENTATIONS AND WARRANTIES CONCERNING THE COMPANY ENTITIES** | **Article 3 REPRESENTATIONS AND WARRANTIES CONCERNING THE COMPANY ENTITIES** | **22** |
| 3.1 | Organization and Power | 22 |
| 3.2 | Authorization of Transactions; Valid and Binding Agreement | 22 |
| 3.3 | Non-Contravention | 22 |
| 3.4 | [Reserved] | 23 |
| 3.5 | Financial Statements; Indebtedness | 23 |
| 3.6 | Absence of Undisclosed Liabilities | 23 |
| 3.7 | Accounts Receivable | 24 |
| 3.8 | Absence of Changes | 24 |
| 3.9 | Title to Personal Property; Sufficiency of Assets | 26 |
| 3.10 | Real Property | 26 |
| 3.11 | Contracts and Commitments | 29 |
| 3.12 | Intellectual Property | 31 |
| 3.13 | Litigation; Proceedings | 33 |
| 3.14 | Governmental Licenses and Permits | 34 |
| 3.15 | Compliance with Laws | 34 |
| 3.16 | Taxes | 35 |
| 3.17 | Labor | 36 |
| 3.18 | Employee Benefit Plans | 38 |
| 3.19 | Insurance | 40 |
| 3.20 | Environmental Matters | 40 |
| 3.21 | Customers | 41 |
| 3.22 | Subcontractors and Suppliers | 42 |
| 3.23 | Affiliate Transactions | 42 |
| 3.24 | Inventory | 42 |
| 3.25 | Brokers | 42 |

---

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| | | |
|:---|:---|:---|
| **Article 4 REPRESENTATIONS AND WARRANTIES OF THE COLLATERAL AGENT** | **Article 4 REPRESENTATIONS AND WARRANTIES OF THE COLLATERAL AGENT** | **43** |
| 4.1 | Organization and Qualification of Collateral Agent | 43 |
| 4.2 | Approval; Binding Effect | 43 |
| 4.3 | Security Interest | 43 |
| 4.4 | Transfer of Interest | 44 |
| 4.5 | Valid Obligations | 44 |
| 4.6 | Liens | 44 |
| 4.7 | Compliance with the UCC | 44 |
| 4.8 | Brokers | 44 |
| **Article 5 REPRESENTATIONS AND WARRANTIES OF THE BUYER** | **Article 5 REPRESENTATIONS AND WARRANTIES OF THE BUYER** | **45** |
| 5.1 | Organization and Power | 45 |
| 5.2 | Authorization of Transactions | 45 |
| 5.3 | Non-Contravention | 45 |
| 5.4 | Litigation | 45 |
| 5.5 | Brokers | 45 |
| 5.6 | Independent Investigation; Non-Reliance | 46 |
| **Article 6 ADDITIONAL AGREEMENTS** | **Article 6 ADDITIONAL AGREEMENTS** | **46** |
| 6.1 | Pre-Closing Covenants | 46 |
| 6.2 | Access to Information; Cooperation; Further Assurances | 50 |
| 6.3 | Refunds and Remittances | 50 |
| 6.4 | Confidentiality | 51 |
| 6.5 | Tax Matters | 51 |
| 6.6 | Employee and Related Matters | 53 |
| 6.7 | Certain Financial Statements | 54 |
| 6.8 | Intellectual Property License | 54 |
| **Article 7 CONDITIONS TO CLOSING** | **Article 7 CONDITIONS TO CLOSING** | **55** |
| 7.1 | Buyer's Closing Conditions and Deliverables of the Selling Parties | 55 |
| 7.2 | Seller Parties' Closing Conditions and Deliverables of the Buyer | 58 |
| **Article 8 TERMINATION** | **Article 8 TERMINATION** | **59** |
| 8.1 | Termination | 59 |
| 8.2 | Effect of Termination | 60 |
| **Article 9 MISCELLANEOUS** | **Article 9 MISCELLANEOUS** | **60** |
| 9.1 | Survival | 60 |
| 9.2 | Amendment | 61 |
| 9.3 | Waiver | 61 |
| 9.4 | Specific Performance | 61 |
| 9.5 | Expenses | 61 |
| 9.6 | Notices | 61 |
| 9.7 | Binding Agreement; Assignment | 62 |
| 9.8 | Severability | 63 |
| 9.9 | Disclosure Schedules | 63 |
| 9.10 | Construction | 63 |
| 9.11 | Entire Agreement | 63 |
| 9.12 | Exculpatory Provisions | 64 |
| 9.13 | Counterparts | 64 |
| 9.14 | Governing Law; Submission to Jurisdiction; Selection of Forum | 64 |
| 9.15 | Parties in Interest | 65 |
| 9.16 | Regulatory Information | 65 |
| 9.17 | Schedule Supplement | 65 |
| 9.18 | Press Releases and Announcements | 65 |

---

**<u>INDEX OF SCHEDULES, ANNEXES & EXHIBITS</u>**

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| | |
|:---|:---|
| Schedule I | Company Sellers |
| Schedule II | Company Non-Sellers |
| Annex A | Acquired Assets |
| Annex B | Excluded Assets |
| Annex C | Assumed Liabilities |
| Annex D | Excluded Liabilities |
| Exhibit A | Form of Bill of Sale and Assignment and Assumption Agreement |
| Exhibit B | Form of Lease Assignments |
| Exhibit C | Form of Intellectual Property Assignments |

---

**ASSET PURCHASE AGREEMENT**

THIS ASSET PURCHASE AGREEMENT (this "<u>Agreement</u>") is made as of November 13, 2025, by and among (a) Vireo Health of Rocky Mountain, LLC, a Delaware limited liability company (the "<u>Buyer</u>"), (b) Chicago Atlantic Admin, LLC, solely in its capacity as the collateral agent under that certain Senior Notes Indenture (as defined below) and related Senior Notes Documents (as defined below) (the "<u>Collateral Agent</u>"), (c) Medicine Man Technologies, Inc., a Nevada corporation (the "<u>Company</u>"), (d) the Company's Subsidiaries listed hereto on <u>Schedule I</u> (collectively with the Company, the "<u>Company Sellers</u>"), and (e) the Company's Subsidiaries listed hereto on <u>Schedule II</u> (the "<u>Company Non-Sellers</u>", and together with the Company Sellers, the "<u>Company Entities</u>"). The Company Sellers and the Collateral Agent are sometimes referred to collectively as the "<u>Selling Parties</u>," and each individually as a "<u>Selling Party</u>." Capitalized terms used but not otherwise defined herein have the meanings set forth in <u>Section 1.1</u>.

**WHEREAS**, the Company is in default of its obligations under that certain Indenture dated as of December 7, 2021 (the "<u>Senior Notes Indenture</u>") between the Company, as Issuer, the Subsidiaries, as guarantors, Ankura Trust Company LLC (the "<u>Senior Notes Trustee</u>") as trustee, registrar, paying agent, and conversion agent, and the Collateral Agent as the Senior Notes Collateral Agent.

**WHEREAS**, as a result of such defaults, the Senior Notes Trustee is entitled to exercise its remedies under the Senior Notes Documents (as defined in the RSA) and Applicable Laws, including to foreclose its security interests upon the Senior Notes Collateral securing the Senior Notes Obligations under the Senior Notes.

**WHEREAS**, reference is hereby made to that certain Restructuring Support Agreement, by and among the Company, the Consenting Senior Noteholders (as defined in the RSA), the Consenting Star Buds Seller Note Parties (as defined in the RSA), and the other signatories thereto, dated as of October 10, 2025 (the "<u>RSA</u>"), whereby the parties thereto agreed to implement the Restructuring Transactions (as defined therein) pursuant to the RSA, the Restructuring Term Sheet (as defined in the RSA) and the other Definitive Documents (as defined in the RSA) through, among other steps: (a) the sale, conveyance, assignment, transfer and delivery to the Buyer (or one or more of its Affiliates) of all right, title, and interest in and to (i) the Transferred Collateral Assets by the Collateral Agent, solely in its capacity as secured party under Article 9 of the UCC, on behalf of the Senior Noteholders and (ii) the Non-Collateral Transferred Assets by the Company Sellers as the record owners of such property, in each case together with the Buyer's assumption of the related Assumed Liabilities to effectuate the Sale Transaction (as defined in the RSA); (b) implementation of the Sale Transaction through a public disposition of collateral pursuant to Sections 9-610 and 9-611 of the UCC, to be conducted by the Collateral Agent, coupled with a consensual assignment of the Non-Collateral Transferred Assets by the Company Sellers to the Buyer in accordance with the RSA; (c) the liquidation of the Excluded Assets and treatment of the Excluded Liabilities of the Company Parties (as defined in the RSA), and wind-down of the applicable Company Parties through the commencement of one or more proceedings under applicable state law (including, without limitation, a receivership, liquidation, foreclosure, dissolution, and/or an assignment for the benefit of creditors), in each case, as determined by the Ad Hoc Committee (as defined in the RSA) and reasonably acceptable to the Company; and (d) adopting plans for the post-restructuring compensation, retention, bonus, and incentive structure for leadership, management, and key employees, through the Management Incentive Plan, Consulting Agreement, Employee Retention Plan and Executive Employment Agreements (each as defined in the RSA).

**WHEREAS,** pursuant to and in accordance with the RSA, the Buyer desires to acquire from the Selling Parties, and the Selling Parties (acting in their respective capacities as described above), desire to transfer or convey to Buyer or one of its designated Affiliates, the Acquired Assets (as defined below) in consideration of, and in exchange for, the cancellation and satisfaction in full of the Senior Notes Obligations (as defined in the RSA) and the release of all Liens and security interests on the Collateral Assets, including (i) the automatic release of Liens on the Transferred Collateral Assets pursuant to the Sale Proceeding and (ii) the release of Liens on the Non-Transferred Collateral Assets in connection with such satisfaction in full, in each case pursuant to and in accordance with the RSA, and subject to the terms and conditions set forth herein.

**WHEREAS,** this Agreement and the transactions contemplated hereby are intended to constitute the Sale Proceeding under the RSA and a public sale under Sections 9-610 and 9-617 of the UCC, and the Parties desire that the Acquired Assets be transferred to Buyer free and clear of all Liens (other than Post-Closing Permitted Liens), and Buyer shall not assume, and shall have no liability for, any other Liabilities or obligations of the Selling Parties except the Assumed Liabilities.

**NOW, THEREFORE**, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

**<u>Article 1</u>**

**<u>DEFINITIONS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 <u>Definitions</u>. For purposes of this Agreement, the following terms shall have the meanings set forth below:

"<u>Affiliate</u>" means, with respect to any Person, any other Person controlling, controlled by or under common control with such particular Person, where "control" means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person whether through the ownership of voting securities, as trustee, personal representative or executor, by contract, credit arrangement or otherwise.

"<u>Affiliated Group</u>" means an affiliated group as defined in Section 1504 of the Code (or analogous combined, consolidated or unitary group defined under state, local or foreign income tax law).

"<u>Akimbo APA</u>" means that certain Asset Purchase Agreement dated as of April 13, 2023, by and among Double Brow, LLC (as buyer), the Company (as parent), Standing Akimbo, LLC (as seller and representative), and Spencer A. Kirson and John G. Murphy (as equityholders).

"<u>Allocation Schedule</u>" shall mean the schedule allocating the Purchase Price and the Assumed Liabilities in accordance with Section 1060 of the Code and the Treasury Regulations thereunder and any corresponding requirements of any state, local, or foreign tax laws, as applicable.

"<u>Altmore Claims</u>" means claims and causes of action asserted by SHWZ Altmore LLC ("<u>Altmore</u>"), including, without limitation, all claims asserted under the loan agreement dated February 26, 2021 by and between Altmore, as lender, and PBS HoldCo, LLC, a subsidiary of the Company, as borrower, and the guaranty agreement dated February 26, 2021, by and between Altmore, as lender, and the Company, as guarantor, and any and all claims and causes of action asserted by Altmore.

"<u>Altmore Loan Agreement Documents</u>" means that certain (i) Loan Agreement dated as of February 26, 2021, by and among Mesa Organics Ltd., Mesa Organics II Ltd., Mesa Organics III Ltd., Mesa Organics IV Ltd., SCG Holding, LLC and PBS Holdco LLC and certain borrowers from time to time ("<u>Borrowers</u>") and SHWZ Altmore, LLC ("<u>Lender</u>") and GGG Partners LLC (as collateral agent); (ii) Promissory Note dated as of February 26, 2021, by and among Borrowers, Lender and GGG Partners LLC (as collateral agent); (iii) Security Agreement dated as of February 26, 2021, by and among Borrowers, Lender and GGG Partners LLC (as collateral agent); (iv) Intellectual Property Security Agreement dated as of February 26, 2021, by and among Borrowers, Lender and and GGG Partners LLC (as collateral agent); (v) Parent Guaranty dated as of February 26, 2021, by and among the Company (as guarantor) and GGG Partners, LLC (as collateral agent); and (vi) all other agreements, documents, certificates, and instruments executed and delivered by Borrowers and the Company as guarantor to Lender in connection therewith.

"<u>Ancillary Agreements</u>" means each of the agreements entered into or to be entered into in connection with this Agreement and the transactions contemplated hereby, including but not limited to the Bill of Sale, the Lease Assignments and the Intellectual Property Assignments.

"<u>Applicable Law</u>" means any applicable provision of any constitution, treaty, statute, law, rule, regulation, ordinance, code, order, decree, consent decree, or settlement enacted, adopted, issued or promulgated by any Governmental Authority.

"<u>Bill of Sale</u>" means the Bill of Sale and Assignment and Assumption Agreement to be executed by the applicable Selling Party and the Buyer at the Closing with respect to the applicable Acquired Assets and Assumed Liabilities, substantially in the form of <u>Exhibit A</u>.

"<u>Business</u>" means the business of the Company Entities as currently conducted and as currently proposed to be conducted immediately prior to the Closing, including the business of cultivating, packaging, distributing and selling cannabis products.

"<u>Business Contingent Workers</u>" means the individuals listed on <u>Schedule</u> <u>3.17(b)</u> (as may be amended at the Buyer's election after the date hereof to reflect any applicable new contingent workers Buyer wishes to offer or departures).

"<u>Business Day</u>" means any day that is not a Saturday, Sunday or other day on which banks are required or authorized by law to be closed in the state of New York.

"<u>Business Employees</u>" means the individuals listed on <u>Schedule</u> <u>3.17(a)</u> (as may be amended at the Buyer's election after the date hereof to reflect any applicable new hires Buyer wishes to offer or departures).

"<u>Cash</u>" means the amount of cash and cash equivalents (including marketable securities and marketable short term investments) that would be recorded on a consolidated balance sheet for the applicable Company Entities prepared in accordance with GAAP using the same accounting methods, policies, practices and procedures, with consistent classifications, judgments and estimation methodology, as were used in preparation of the Reference Balance Sheet (as defined in <u>Section</u> <u>3.5</u>).

"<u>Closing</u>" shall mean the closing of the purchase, sale and conveyance of the Acquired Assets and assumption of the Assumed Liabilities on the terms and conditions set forth in this Agreement.

"<u>COBRA</u>" means the continuation coverage requirements for "group health plans" under Section 4980B of the Code and Sections 601 through 608 of ERISA, and any similar and applicable State or local Applicable Law, and in each case, any official guidance promulgated thereunder.

"<u>Code</u>" means the Internal Revenue Code of 1986, as amended from time to time.

"<u>Collateral Assets</u>" means, collectively, all assets, rights and property of the Company Entities that, as of the Closing Date, secure or purport to secure the Senior Notes Obligations under the Senior Notes Documents, whether tangible or intangible, real, personal or mixed, wherever located, including all proceeds thereof.

"<u>Consenting Senior Noteholders</u>" has the meaning ascribed to such term in the RSA.

"<u>Consulting Agreement</u>" has the meaning ascribed to such term in the RSA.

"<u>Consulting Party</u>" has the meaning ascribed to such term in the RSA.

"<u>Consulting Party Financing Opportunity</u>" has the meaning ascribed to such term in the RSA.

"<u>Contingent Worker</u>" means an independent contractor, consultant, temporary employee, leased employee or other service provider classified, treated, and paid other than as an employee, or compensated other than through the direct payment of wages through payroll.

"<u>Contract</u>" means any legally binding written contract, intellectual property license, sublicense, mortgage, purchase order, indenture, loan agreement, lease, sublease, agreement or instrument or any binding written commitment to enter into any of the foregoing to which a Person is a party or by which any Person's assets are bound.

"<u>Disclosure Schedule</u>," "<u>Disclosure Schedules</u>" or "<u>Schedule</u>" means the Disclosure Schedule attached hereto, delivered by the Company to the Buyer in connection with this Agreement.

"<u>Employee Benefit Plan</u>" means an "employee benefit plan" (as defined in Section 3(3) of ERISA, whether or not such plan is subject to ERISA), and each other compensation or benefit plan, program, policy, arrangement or agreement providing for employment, individual consulting, severance, termination, separation, incentive or bonus, commission, retention, change in control, deferred compensation, profit sharing, retirement, welfare, post-employment welfare, vacation or paid-time-off, equity or phantom equity, or other compensation or benefits, that is maintained, sponsored or contributed to (or required to be maintained, sponsored or contributed to) by any of the Company Entities or with respect to which any of the Company Entities have or could have any Liability.

"<u>Employee Liabilities</u>" means all Liabilities with respect to wages, compensation, cash or equity incentives, benefits, severance, and other accrued or contingent obligations, employment, engagement, retention or discharge, COBRA (or similar Applicable Laws), the WARN Act, the National Labor Relations Act and claims of unfair labor practices, and claims under any Applicable Laws relating to employment or labor (a) relating to any employee or service provider of a Company Entity (including any Business Employee or Business Contingent Worker) who does not become a Transferred Service Provider for any reason, or to any former employee or service provider of any Company Entity, regardless of when arising, (b) relating to any Business Employee or Business Contingent Worker who becomes a Transferred Service Provider (or any beneficiary or dependent thereof), to the extent arising on or prior to the Closing (including all severance and separation-related Liabilities arising in connection with a Transferred Service Provider's termination of employment or service with any Company Entity as of the Closing), or (c) arising at any time under each Employee Benefit Plan.

"<u>Employee Representative Body</u>" means a labor or trade union, works council, employee association, or similar employee representative body.

"<u>Environmental Claim</u>" means any written notice, demand, claim, suit, proceeding or other communication alleging liability or potential responsibility (including for investigatory cost, cleanup cost, governmental response cost, natural resources damage, property damage, personal injury or penalty) under any Environmental Law, including any of the foregoing arising out of, relating to or resulting from (a) the presence or Release of any Hazardous Substance or (b) any violation or duty to comply with any Environmental Law or Permit required thereunder.

"<u>Environmental Law</u>" means any applicable federal, state or local law (including common law), statute, regulation, ordinance, code, guidance having the force of law, or other legal requirement relating to the protection of human health and safety (to the extent related to Hazardous Substances), or the environment, natural resources, climate change, biodiversity, wildlife or habitats, including any of the foregoing relating to any presence, emission, discharge, Release or potential Release of any Hazardous Substance, or otherwise relating to the manufacture, processing, distribution, use, registration, treatment, storage, disposal, transport, handling or human exposure to any Hazardous Substance.

"<u>ERISA</u>" means the Employee Retirement Income Security Act of 1974, as amended from time to time.

"<u>ERISA Affiliate</u>" means an entity that is considered one employer with the Company or any of the Company Entities under Section 4001 of ERISA or Section 414 of the Code.

"<u>Everest APA</u>" means that certain Asset Purchase Agreement dated as of April 21, 2023, by and among Evergreen Holdco, LLC (as purchaser), the Company (as parent), Sucellus, LLC (as seller), James Griffin, Brook Laskey, William Baldwin, Andrew Dolan, and Greg Templeton (as equityholders), and Brook Laskey (as representative), as amended by that certain Amendment to Asset Purchase Agreement dated as of June 1, 2023.

"<u>Everest Note</u>" means that certain Promissory Note dated June 1, 2023, by and among Evergreen Holdco, LLC, and the Company (as payor) and Sucellus, LLC (as holder).

"<u>Exchange Act</u>" means the Securities Exchange Act of 1934, as amended.

"<u>Excluded Taxes</u>" means (i) all Taxes of the applicable Company Entity or any of its Affiliates, or for which the applicable Company Entity or any of its Affiliates are otherwise liable as a transferee or successor, pursuant to an express or implied obligation to indemnify any other Person, by contract or pursuant to any Applicable Law or otherwise, (ii) all Taxes relating to the Excluded Assets or Excluded Liabilities for any taxable period, (iii) all Taxes relating to the Acquired Assets or the Assumed Liabilities for any taxable period ending on or prior to the Closing Date and, with respect to any Straddle Period, for the portion of such taxable period ending on the Closing Date, as calculated in accordance with <u>Section</u> <u>6.5(b)</u>, (iv) all Taxes under <u>Section 6.5(a)</u> and (v) all Taxes imposed on Buyer or any of its Affiliates as a transferee or successor of any Company Entity or any of its Affiliates.

"<u>Federal Cannabis Laws</u>" means any U.S. federal Laws, civil, criminal or otherwise, as such relate, either directly or indirectly, to the cultivation, harvesting, production, distribution, sale and possession of cannabis, marijuana or related substances or products containing or relating to the same, including, without limitation, the prohibition on drug trafficking under 21 U.S.C. § 841(a), et seq., the conspiracy statute under 18 U.S.C. § 846, the bar against aiding and abetting the conduct of an offense under 18 U.S.C. § 2, the bar against misprision of a felony (concealing another's felonious conduct) under 18 U.S.C. § 4, the bar against being an accessory after the fact to criminal conduct under 18 U.S.C. § 3, and federal money laundering statutes under 18 U.S.C. §§ 1956, 1957, and 1960 and the regulations and rules promulgated under any of the foregoing; provided, however, that Federal Cannabis Laws shall not include any Laws regarding Taxes (including Section 280(e) of the Code).

"<u>GAAP</u>" means United States generally accepted accounting principles, consistently applied throughout the periods involved.

"<u>Governmental Authority</u>" means any government or political subdivision, whether federal, state, local or foreign, or any legislative, administrative, executive or judicial branch, body, entity or forum, agency, regulatory body or authority, or instrumentality of any such government or political subdivision, or any federal, state, local or foreign court, tribunal or arbitrator.

"<u>Hazardous Substance</u>" means (a) petroleum or petroleum byproducts, per- and polyfluoroalkyl substances, asbestos or asbestos containing materials, polychlorinated biphenyls, or radioactive, flammable or explosive substances, and (b) any materials, substances, chemicals, contaminants, pollutants, pesticides, or wastes regulated or listed by, or for which liability or standards of conduct may be imposed pursuant to, any Environmental Law or Permit required thereunder.

"<u>Indebtedness</u>" means any liability of the Company Entities under or for any of the following (excluding any trade payable incurred in the Ordinary Course of Business of such Company Entity): (a) indebtedness for borrowed money, including any mortgages and substantially similar instruments or arrangements, whether or not evidenced by any note, bond or debenture or any similar instrument, and including, for the avoidance of doubt, all liabilities and obligations of such Company Entity to any Person for indebtedness for borrowed money; (b) all obligations of the Company Entities issued or assumed as the deferred purchase price of property, conditional sale obligations or under any title retention agreement; (c) all obligations and liabilities in respect of any letter of credit, bond, surety or similar obligations; (d) all liabilities and obligations of the Company Entities under any lease that is required to be treated as a capital lease under GAAP; (e) obligations under any interest rate swaps currency swaps, foreign exchange, hedging or similar instruments; (f) any amounts owed to any Person under any severance, change-of-control, retention, bonus or similar arrangements; (g) any indebtedness of the nature described in subclauses (a)-(f) above with respect to which such a Company Entity is a guarantor (excluding, for the avoidance of doubt, endorsements of negotiable instruments or guarantees of performance) or (h) interest, premium, penalty, fee, Taxes or other expense regarding any of the foregoing.

"<u>Intellectual Property</u>" means all intellectual property and proprietary rights in any applicable jurisdiction, whether registered or unregistered, including without limitation any of the following: (A) patents, patent applications of any kind, patent rights, inventions, discoveries and invention disclosures (whether or not patented) (including reissues, continuations, continuations-in-part, divisions, substitutions, provisionals, revisions, extensions, patent disclosures, and reexaminations); (B) rights in registered and unregistered trademarks, service marks, trade names, trade dress, logos, packaging designs, and slogans, together with all of the goodwill associated therewith; (C) copyrights in both published and unpublished works, and all other works of authorship, including all compilations, databases and computer programs, manuals and other documentation, all derivatives, translations, adaptations and combinations of the above, and any associated moral rights; (D) rights in know-how, trade secrets, confidential or proprietary information, research in progress, work-for-hire, algorithms, data, designs, processes, formulae, drawings, schematics, blueprints, flow charts, models, strategies, prototypes, techniques, testing procedures and testing results; (E) domain names, uniform resource locators and other names and locators associated with the internet; (F) registrations and applications to register any of the foregoing; (G) any and all other intellectual property rights and/or proprietary rights recognized by Applicable Law; and (H) all causes of action, damages, and remedies related to any of the foregoing, including damages for past, present and future infringement thereof; and (I) all copies and tangible embodiments of the foregoing (in whatever form or medium).

"<u>Intellectual Property Assignments</u>" means those certain Intellectual Property Assignments, to be dated as of the Closing Date and to be entered into by Buyer and the applicable Selling Party, in the form attached as <u>Exhibit C</u> hereto.

"<u>IRS</u>" means the Internal Revenue Service.

"<u>Knowledge of the Company Entities</u>" or "<u>the Company Entities' Knowledge</u>" or any similar knowledge qualification means the actual knowledge of Forrest Hoffmaster, Collin Lodge and Christine Jones, after reasonable due inquiry.

"<u>Leased Real Property</u>" means the real property leased, subleased or licensed by the applicable Company Entity, in each case, as tenant, subtenant, licensee or other similar party, together with, to the extent leased, licensed or owned by any Company Entity, all buildings and other structures, facilities or leasehold improvements, currently or hereafter located thereon, all fixtures, systems, equipment and items of personal property and other assets of every kind, nature and description of the applicable Company Entity located at or attached or appurtenant thereto and all easements, licenses, rights, options, privileges and appurtenances relating to any of the foregoing.

"<u>Liability</u>" means any liability, debt, obligation, deficiency, Tax, penalty, assessment, fine, order, decree, claim, charge, cause of action or other loss, fee, cost or expense of any kind or nature whatsoever, whether asserted or unasserted, absolute or contingent, known or unknown, accrued or unaccrued, liquidated or unliquidated, and whether due or to become due and regardless of when asserted.

"<u>Lien</u>" means (i) any mortgage, deed of trust, pledge, security interest, indenture, hypothecation, lien (including environmental and Tax liens), or similar charge or encumbrance of any kind (including any conditional sale or title retention agreement or lease in the nature thereof) or any agreement to file any of the foregoing, any sale of receivables with recourse against any Company Entity, and any filing or agreement to file any financing statement as debtor under the Uniform Commercial Code or any similar statute, in each case, that is imposed upon or affects an Acquired Asset, and (ii) in each case as relating to or affecting real property, adverse claims, options, rights of first refusal, easements, encroachments, servitudes, rights of way, licenses, voting agreements, or restrictions on transfer.

"<u>Liquidation Proceedings</u>" has the meaning ascribed to such term in the RSA.

"<u>Losses</u>" (collectively) or "<u>Loss</u>" (individually) means any loss, Liability, demand, claim, action, cause of action, cost, damage, deficiency, Tax, penalty, fine or expense, whether or not arising out of third party claims (including interest, penalties, attorneys', accountants' and other professionals' fees and expenses, court costs and all amounts paid in investigation, defense or settlement of any of the foregoing).

"<u>Material Adverse Effect</u>" means any event, occurrence, fact, condition or change that has, or would reasonably be expected to have, individually or in the aggregate, a material adverse effect on the assets, Liabilities, condition (financial or otherwise), business, or results of operations of the applicable Company Entity, taken as a whole; <u>provided</u>, <u>however</u>, that none of the following shall constitute a Material Adverse Effect: (i) except to the extent that such event, occurrence, fact, condition or change disproportionately affects the applicable Company Entity relative to others in the same or similar industries, any change arising from or relating to (A) changes in Applicable Laws or other requirements issued by any Governmental Authority, (B) changes in GAAP, or (C) changes in general economic or political conditions or the securities markets in general (whether as a result of acts of terrorism, war (whether or not declared), armed conflicts or otherwise); (ii) any adverse change, effect or circumstance that directly results from the announcement of the transactions contemplated by this Agreement and the other agreements contemplated hereby; (iii) any action taken (or failure to act) by the applicable Company Entity that is at the written request of the Buyer; or (iv) any failure to meet a forecast (whether internal or published) of revenue, earnings, cash flow, or other data for any period or any change in such a forecast.

"<u>Material Leases</u>" means the Leases, and all applicable Ancillary Lease Documents, for the Leased Real Property at each of the locations set forth on <u>Annex A</u>.

"<u>New First Lien Debt</u>" has the meaning ascribed to such term in the RSA.

"<u>New First Lien Debt Documents</u>" has the meaning ascribed to such term in the RSA.

"<u>New Money Financings</u>" has the meaning ascribed to such term in the RSA.

"<u>Non-Collateral Transferred Assets</u>" means all assets, properties and rights of the Company Sellers that are included in the Acquired Assets to be conveyed to Buyer under this Agreement, and either (x) are not Collateral Assets securing the Senior Notes Obligations or (y) are required to be transferred directly by the applicable Company Seller rather than through the UCC sale as described in the RSA, including, without limitation, any applicable owned or leased real property, cannabis licenses or permits, contract rights, or other assets that cannot be transferred by the Collateral Agent under the UCC.

"<u>Non-Transferred Collateral Assets</u>" means any Collateral Assets that are Excluded Assets.

"<u>Nuevo APA</u>" means that certain Purchase Agreement dated as of November 29, 2021, by and among Nuevo Holding, LLC (as purchaser), Nuevo Elemental Holding, LLC (as purchaser), the Company (as parent), Reynold Greenleaf & Associates, LLC (as seller), William N. Ford (as seller), Elemental Kitchen and Labs, LLC, William N. Ford, John Christopher Romero, Jacob Christopher White, GLNM, LLC, Alexandra Falter-Hahn, and Michael Grimes (as equityholders), and William N. Ford (as representative).

"<u>Nuevo Note</u>" means that certain Promissory Note, dated February 8, 2022, by and among certain of the Company Entities and Reynold Greenleaf & Associates, LLC, as amended by that certain First Amendment to Promissory Note dated July 3, 2024.

"<u>Ordinary Course of Business</u>" or "<u>Business in the Ordinary Course</u>" means the ordinary course of business consistent with past custom and practice (including with respect to quantity and frequency).

"<u>Outside Sale Transaction Effective Date</u>" has the meaning ascribed to such term in the RSA.

"<u>Owned IP</u>" means all Intellectual Property owned or purported to be owned by the applicable Company Entity.

"<u>Owned Real Property</u>" means those certain real properties as further described on <u>Schedule</u> <u>3.10(a)</u>, together with all buildings, structures, improvements and fixtures located thereon, and all easements and other rights and interests appurtenant thereto or used in connection therewith.

"<u>Parties</u>" (collectively) or "<u>Party</u>" (individually) shall refer to the Company Entities, the Collateral Agent and the Buyer.

"<u>Permit</u>" means all permits, licenses, clearances, approvals, authorizations, registrations, certificates, concessions, grants, variances, permissions and similar rights issued by or obtained or required to be obtained, from a Governmental Authority.

"<u>Permitted Liens</u>" means, solely with respect to the condition of title on or prior to the Closing (i) Liens for Taxes, assessments and other government charges not yet due and payable or which are being contested in good faith by appropriate proceedings; (ii) mechanics', workmen's, repairmen's, warehousemen's, carriers', or other like Liens arising in the Ordinary Course of Business for amounts that are not delinquent (and, with respect to real property, are not reflected in the applicable public real property records), and in each case which do not, individually or in the aggregate, materially detract from the value of, or materially impair the use of, any of the affected assets, properties (including real properties) or rights of the Company Entities therein; (iii) Liens and defects or irregularities in title that do not, individually or in the aggregate, materially detract from the value of, or materially negatively impact or impair the occupancy or use of, any affected real property; (iv) easements, declarations, covenants, conditions, restrictions, and rights of way, in each case which do not materially impair the occupancy or use of any affected real property for the purposes for which it is currently used; (v) zoning ordinances and other similar land use regulations imposed by Governmental Authorities affecting real property; (vi) Liens which will be terminated as of the Closing; (vii) Liens approved by Buyer in writing; and (viii) those Liens described on <u>Schedule 1</u>. For the avoidance of doubt, Permitted Liens are limited to those existing prior to Closing (whether or not discharged at Closing).

"<u>Post-Closing Permitted Liens</u>" means the following Liens arising or existing after the Closing Date: (a) mechanics', workmen's, repairmen's, warehousemen's, carriers' or other like Liens arising in the ordinary course of business after the Closing Date for amounts that are not delinquent and do not, individually or in the aggregate, materially detract from the value of, or materially impair the use of, the affected assets; (b) with respect to real property, easements, covenants, conditions, restrictions, rights-of-way and zoning ordinances or other similar land-use regulations of record that do not materially interfere with the current use or value of such property; and (c) Liens granted pursuant to the New Money Financings and related security documents.

"<u>Person</u>" means any individual, partnership, limited liability company, corporation, cooperative, association, joint stock company, trust, joint venture, unincorporated organization or Governmental Authority, body or entity or any department, agency or political subdivision thereof.

"<u>Post-Closing Tax Period</u>" means any Tax period (or portion thereof) beginning after the Closing Date.

"<u>Pre-Closing Tax Period</u>" means any Tax period (or portion thereof) ending on or before the Closing Date.

"<u>Proceeding</u>" means any action, suit, or proceeding at law or in equity, arbitration, or administrative or other proceeding by or before any Governmental Authority.

"<u>Release</u>" of any Hazardous Substance includes but is not limited to any release, or the threat thereof, and any deposit, discharge, emission, leaking, leaching, spilling, seeping, migrating, injecting, pumping, pouring, emptying, escaping, dumping, disposing or other movement of Hazardous Substance into or upon or through any land or water or air, or otherwise entering into the environment, and including the abandonment or disposal of any barrels, containers or other closed receptacles containing any Hazardous Substance.

"<u>Required Consenting Senior Noteholder</u>" has the meaning ascribed to such term in the RSA.

"<u>Requisite Regulatory Approval</u>" means evidence of the approval from the applicable regulatory authorities of the transaction(s) contemplated herein pertaining to a particular state, including each locality within such state to the extent local approval is necessary, to the extent required by such governing body, and granting the required Permit (whether a transfer or an existing Permit or issuance of new Permit) in such state to Buyer or its designee allowing Buyer or its designee to cultivate, process, manufacture, distribute, sell and/or deliver cannabis products in such state and locality, as the case may be in any given state and locality.

"<u>Sale Proceeding</u>" has the meaning ascribed to such term in the RSA.

"<u>Senior Noteholders</u>" has the meaning ascribed to such term in the RSA.

"<u>Senior Notes</u>" has the meaning ascribed to such term in the RSA.

"<u>Senior Notes Collateral</u>" has the meanings ascribed to such term in the RSA.

"<u>Senior Notes Documents</u>" has the meanings ascribed to such term in the RSA.

"<u>Senior Notes Indenture</u>" has the meaning ascribed to such term in the RSA.

"<u>Senior Notes Obligations</u>" has the meaning ascribed to such term in the RSA.

"<u>Shared Contract</u>" has the meaning ascribed to such term in <u>Section 2.3</u>.

"<u>State</u>" shall mean the states where the Acquired Assets (in each case, that are tangible assets) are located and set forth on <u>Annex A</u> attached hereto.

"<u>Star Buds APAs</u>" means (i) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Colorado Health Consultants LLC (as seller), and seller's members; (ii) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Starbuds Aurora LLC (as seller), and seller's members; (iii) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), SB Arapahoe, LLC (as seller), and seller's members; (iv) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Starbuds Commerce City LLC (as seller), and seller's members; (v) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Starbuds Pueblo LLC (as seller), and seller's members; (vi) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Starbuds Alameda LLC (as seller), and seller's members; (vii) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Citi-Med LLC (as seller), and seller's members; (viii) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Starbuds Louisville LLC (as seller), and seller's members; (ix) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), KEW LLC (as seller), and seller's members; (x) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Lucky Ticket LLC (as seller), and seller's members; (xi) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Starbuds Niwot LLC (as seller), and seller's members; (xii) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), LM MJC LLC (as seller), and seller's members; and (xiii) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Mountain View 44th LLC (as seller), and seller's members.

"<u>Star Buds Lessor Parties</u>" has the meaning ascribed to such term in the RSA.

"<u>Star Buds Leases</u>" has the meaning ascribed to such term in the RSA.

"<u>Star Buds Term Sheet</u>" has the meaning ascribed to such term in the RSA.

"<u>Subsidiary</u>" means, with respect to any Person, any and all corporations, partnerships, limited liability companies, joint ventures, associations and other entities of which more than 50% of the outstanding equity interests or other voting securities or economic interests are owned by any such Person, directly or indirectly through one or more intermediaries. For purposes hereof, a Person or Persons shall be deemed to control a partnership, limited liability company, association or other business entity if such Person or Persons (i) shall be or control the managing director or general partner of such partnership, limited liability company, association or other business entity or (ii) holds or controls at least a majority of the securities or other interests that have by their terms ordinary voting power to elect a majority of the board of directors or others performing similar functions with respect to such corporation or other organization.

"<u>Tax</u>" or "<u>Taxes</u>" means (i) any federal, state, local or local or non-U.S. income, gross receipts, capital gains, franchise, alternative or add-on minimum, estimated, sales, use, goods and services, transfer, registration, value added, excise, natural resources, severance, stamp, occupation, premium, unclaimed property or escheat (whether or not considered a tax under Applicable Laws), imputed underpayment, windfall profit, environmental, customs, duties, real property, ad valorem, special assessment, personal property, capital stock, social security, unemployment, employment, disability, payroll, license, employee or other withholding, contributions or other tax, of any kind whatsoever, whether disputed or not, imposed by any Governmental Authority, including any interest, penalties or additions to tax or additional amounts in respect of the foregoing; (ii) any Liability for the payment of any amounts of the type described in clause (i) above of another Person arising as a result of being (or ceasing to be) a member of any Affiliated Group (or being included (or required to be included) in any Tax Return relating thereto); and (iii) any Liability for the payment of any amounts of the type described in clause (i) above of another Person as a result of any transferee or secondary Liability or any Liability assumed by Contract, Applicable Law, or otherwise.

"<u>Tax Returns</u>" means returns, declarations, reports, elections, notices, claims for refund, information returns or other statements relating to Taxes (including any amendments, related or supporting schedules, attachments, statements or information and Treasury Form TD F 90-22.1 and FinCEN Form 114) filed or required to be filed, or required to be maintained, in connection with the determination, assessment or collection of Taxes or the administration of any Applicable Laws relating to any Taxes.

"<u>TLA</u>" has the meaning ascribed to such term in the RSA.

"<u>Transferred Collateral Assets</u>" means all Collateral Assets that are included in the Acquired Assets being sold, assigned, transferred, conveyed and delivered to Buyer or its designated Affiliate pursuant to the Sale Proceeding and this Agreement.

"<u>UCC</u>" means the Uniform Commercial Code.

"<u>WARN Act</u>" means the Worker Adjustment and Retraining Notification Act of 1988, as amended, and any similar state and local Applicable Law, as amended from time to time, and any regulations, rules and guidance issued pursuant thereto.

"<u>Wind Down Amount</u>" means an amount of cash necessary to fund the Company Entities' costs and expenses estimated to be incurred in connection with the Liquidation Proceedings, subject to the Wind Down Budget, in an amount not to exceed $1,000,000.

"<u>Wind Down Budget</u>" means the budget agreed between the Company and Buyer set forth on <u>Schedule 2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 <u>Other Definitions</u>.

Each of the following defined terms has the meaning given such term in the Section set forth opposite such defined term:

---

| | |
|:---|:---|
| &nbsp;&nbsp;<u>Term</u> | &nbsp;&nbsp;<u>Section</u> |
| &nbsp;&nbsp;Acquired Assets | &nbsp;&nbsp;2.2(a) |
| &nbsp;&nbsp;Agreement | &nbsp;&nbsp;Preamble |
| &nbsp;&nbsp;Ancillary Lease Documents | &nbsp;&nbsp;3.10(b) |
| &nbsp;&nbsp;Applicable State Cannabis Laws | &nbsp;&nbsp;9.14 |
| &nbsp;&nbsp;Appraisals | &nbsp;&nbsp;6.1(c)(7) |
| &nbsp;&nbsp;Assumed Contracts | &nbsp;&nbsp;2.2(a) |
| &nbsp;&nbsp;Assumed Liabilities | &nbsp;&nbsp;2.2(c)(1) |
| &nbsp;&nbsp;Buyer | &nbsp;&nbsp;Preamble |
| &nbsp;&nbsp;Closing | &nbsp;&nbsp;2.5 |
| &nbsp;&nbsp;Closing Date | &nbsp;&nbsp;2.5 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<u>Term</u> | &nbsp;&nbsp;<u>Section</u> |
| &nbsp;&nbsp;Collateral Agent | &nbsp;&nbsp;Preamble |
| &nbsp;&nbsp;Company | &nbsp;&nbsp;Preamble |
| &nbsp;&nbsp;Company Entities | &nbsp;&nbsp;Preamble |
| &nbsp;&nbsp;Company Non-Sellers | &nbsp;&nbsp;Preamble |
| &nbsp;&nbsp;Company Sellers | &nbsp;&nbsp;Preamble |
| &nbsp;&nbsp;Confidential Information | &nbsp;&nbsp;6.4 |
| &nbsp;&nbsp;control | &nbsp;&nbsp;Definition of Affiliate |
| &nbsp;&nbsp;Delayed Transfer Service Provider | &nbsp;&nbsp;6.6(b) |
| &nbsp;&nbsp;Employment Offer | &nbsp;&nbsp;6.6(a) |
| &nbsp;&nbsp;Engagement Offer | &nbsp;&nbsp;6.6(a) |
| &nbsp;&nbsp;Excluded Assets | &nbsp;&nbsp;2.2(b)(16) |
| &nbsp;&nbsp;Excluded Liabilities | &nbsp;&nbsp;2.2(c)(2) |
| &nbsp;&nbsp;Executive Employment Agreements | &nbsp;&nbsp;7.1(b)(21) |
| &nbsp;&nbsp;Existing Events of Default | &nbsp;&nbsp;2.2(b) |
| &nbsp;&nbsp;Excluded Real Property | &nbsp;&nbsp;2.2(b)(14) |
| &nbsp;&nbsp;Financial Statements | &nbsp;&nbsp;3.5(a) |
| &nbsp;&nbsp;Foreign Benefit Plan | &nbsp;&nbsp;3.18(k) |
| &nbsp;&nbsp;Insiders | &nbsp;&nbsp;3.23 |
| &nbsp;&nbsp;Interim Period | &nbsp;&nbsp;6.1(a) |
| &nbsp;&nbsp;IT Systems | &nbsp;&nbsp;3.12(b)(7) |
| &nbsp;&nbsp;Labor Agreement | &nbsp;&nbsp;3.11(a)(4) |
| &nbsp;&nbsp;Lease Assignment | &nbsp;&nbsp;7.1(b)(18) |
| &nbsp;&nbsp;Leases | &nbsp;&nbsp;3.10(b) |
| &nbsp;&nbsp;License | &nbsp;&nbsp;6.8 |
| &nbsp;&nbsp;Licensed IP | &nbsp;&nbsp;6.8 |
| &nbsp;&nbsp;NLRB | &nbsp;&nbsp;3.17(e) |
| &nbsp;&nbsp;Offer Contingent Worker | &nbsp;&nbsp;6.6(a) |
| &nbsp;&nbsp;Offer | &nbsp;&nbsp;6.6(a) |
| &nbsp;&nbsp;Offer Employee | &nbsp;&nbsp;6.6(a) |
| &nbsp;&nbsp;Outside Date | &nbsp;&nbsp;8.1(b)(6) |
| &nbsp;&nbsp;Owned Real Property Deliverables | &nbsp;&nbsp;6.1(c)(7) |
| &nbsp;&nbsp;Personal Data | &nbsp;&nbsp;3.12(b)(6) |
| &nbsp;&nbsp;Privacy Requirements | &nbsp;&nbsp;3.12(b)(6) |
| &nbsp;&nbsp;Processing | &nbsp;&nbsp;3.12(b)(6) |
| &nbsp;&nbsp;Property Condition Reports | &nbsp;&nbsp;6.1(c)(6) |
| &nbsp;&nbsp;Property Taxes | &nbsp;&nbsp;6.5(b) |
| &nbsp;&nbsp;Purchase Price | &nbsp;&nbsp;2.4 |
| &nbsp;&nbsp;Reference Balance Sheet | &nbsp;&nbsp;3.5(a) |
| &nbsp;&nbsp;Reference Balance Sheet Date | &nbsp;&nbsp;3.5(a) |
| &nbsp;&nbsp;Registered IP | &nbsp;&nbsp;3.12(a) |
| &nbsp;&nbsp;RSA | &nbsp;&nbsp;Preamble |
| &nbsp;&nbsp;Schedule Supplement | &nbsp;&nbsp;9.17 |
| &nbsp;&nbsp;Seller Contracts | &nbsp;&nbsp;3.11(b) |
| &nbsp;&nbsp;Seller Licenses | &nbsp;&nbsp;3.14 |
| &nbsp;&nbsp;Selling Parties | &nbsp;&nbsp;Preamble |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<u>Term</u> | &nbsp;&nbsp;<u>Section</u> |
| &nbsp;&nbsp;Selling Party | &nbsp;&nbsp;Preamble |
| &nbsp;&nbsp;Senior Notes Indenture | &nbsp;&nbsp;Preamble |
| &nbsp;&nbsp;Senior Notes Trustee | &nbsp;&nbsp;Preamble |
| &nbsp;&nbsp;Shared Contract | &nbsp;&nbsp;2.3 |
| &nbsp;&nbsp;Straddle Period | &nbsp;&nbsp;6.5(b) |
| &nbsp;&nbsp;Subcontractors | &nbsp;&nbsp;3.22 (a) |
| &nbsp;&nbsp;Surveys | &nbsp;&nbsp;6.1(c)(2) |
| &nbsp;&nbsp;Title Company | &nbsp;&nbsp;6.1(c)(1) |
| &nbsp;&nbsp;Title Commitments | &nbsp;&nbsp;6.1(c)(1) |
| &nbsp;&nbsp;Title Policies | &nbsp;&nbsp;6.1(c)(4) |
| &nbsp;&nbsp;Top Suppliers | &nbsp;&nbsp;3.22(b) |
| &nbsp;&nbsp;Transferred Service Provider | &nbsp;&nbsp;6.6(a) |
| &nbsp;&nbsp;Transfer Taxes | &nbsp;&nbsp;6.5(a) |
| &nbsp;&nbsp;Zoning Reports | &nbsp;&nbsp; 6.1(c)(3) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 <u>Other Definitional Provisions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The recitals, Preamble, schedules, annexes, exhibits, and Disclosure Schedules (as well as any attachments thereto) in this Agreement are incorporated herein by reference and form an integral part hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The words "hereof", "herein", "hereto" and "hereunder" and words of similar import, when used in this Agreement, refers to this Agreement as a whole and not to any particular provision of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Unless the context shall otherwise require, all references herein to "Sections", "Articles", "Clauses", "Paragraphs" and "Schedules" are deemed references to sections, articles, clauses, paragraphs and schedules in this Agreement. The descriptive headings to "Sections", "Articles", "Clauses", "Paragraphs" and "Schedules" are inserted for convenience only, and shall have no legal effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Except when used with the word "either", the word "or" has a disjunctive and not alternative meaning (i.e., where two items or qualities are separated by the word "or", the existence of one item or quality shall not be deemed to be exclusive of the existence of the other and the word "or" shall be deemed to include the word "and").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Whenever used in this Agreement the words "include", "includes" and "including" are deemed to be followed by the phrase "without limitation".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) With respect to the determination of any period of time, "from" means "from and including" and "to" means "to but excluding".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) References to "written" or "in writing" include electronic transmissions delivered via electronic mail.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Any reference to "days" means calendar days unless Business Days are specified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The meaning assigned to each term defined in this Agreement is equally applicable to both the singular and the plural forms of such term. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. Where a word or phrase is defined in this Agreement, each of its other grammatical forms shall have a corresponding meaning.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) A reference to any Party or to any party to any contract or document includes such Person's successors and permitted assigns. A reference to a contract or document shall include all exhibits and schedules thereto and all amendments and modifications thereto in accordance with the terms thereof and hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) A reference to any Applicable Law or to any provision of any Applicable Law includes any amendment thereto, and any modification or re-enactment thereof, any Applicable Law substituted therefor and all rules and regulations issued thereunder or pursuant thereto, and with respect to all of the above, as such Applicable Law or any provision of such Applicable Law, as was in effect on the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) The Parties have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties, and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any provision of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) The words "made available" or "delivered" or any other similar phrase shall mean made available in the virtual data room, populated and maintained by the Company at Schwazze.firmex.com/projects for review by the Buyer and its Representatives before November 12, 2025 at 11:59 p.m. Eastern Time, as set forth on an electronic storage device downloaded on such date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) The terms "dollars" and "$" means United States of America dollars.

**<u>Article 2</u>**

**<u>PURCHASE AND SALE OF ASSETS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 <u>Background</u>. The Collateral Agent and the Company Entities hereby confirm the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Amount of Senior Note Obligations</u>. The aggregate outstanding principal amount of the obligations under the Senior Notes owed by the Company to the Senior Noteholders as of November 13, 2025 is at least $111,111,593 in outstanding principal, plus accrued but unpaid interest (including default interest, if applicable) thereon, plus all fees, costs, expenses (including attorneys', financial advisors' and other professionals' fees and expenses), charges, disbursements, indemnification and reimbursement obligations (contingent or otherwise), and all other amounts that may be due or owing under the Senior Notes Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Defaults</u>. The Company is in default under multiple provisions of the Senior Notes Documents, including, without limitation, under Section 4.05(b), Section 6.01(c), Section 6.01(d), Section 6.01(e)(i), and Section 6.01(f)(ii) of the Senior Notes Indenture (collectively, the "<u>Existing Events of Default</u>"). As a result of such continuing Existing Events of Default, the Buyer, as the designee of the Senior Noteholders, has rights under Section 9-610 of the UCC to acquire for value in a public sale all of the Collateral Agent's right, title and interest in and to the Collateral Assets in accordance with the Sale Proceeding, and the Selling Parties hereby consent to such Sale Proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 <u>Purchase and Sale of Assets</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Acquired Assets</u>. On the terms and subject to the conditions contained in this Agreement, including by operation of the Sale Proceeding, the RSA and Applicable Law, at the Closing, the Buyer shall purchase, acquire and accept from the Collateral Agent and/or applicable Company Sellers, and the Collateral Agent and/or such Company Sellers (on behalf of the Senior Noteholders and at the direction of the Required Consenting Senior Noteholder) shall sell, convey, assign, transfer and deliver to the Buyer, free and clear of all Liens other than Post-Closing Permitted Liens, all of the Collateral Assets and assets, properties and rights of the Company Sellers (in each case other than Excluded Assets), as the case may be, of every kind or nature, whether tangible or intangible, real, personal or mixed, wherever located, owned, leased, licensed or otherwise held by the Collateral Agent and/or Company Sellers (including indirect and other forms of beneficial ownership), which shall include for the avoidance of doubt (i) any (x) Contract listed hereto on <u>Annex A</u>, and (y) Contract exclusively related to the operation of the Business at one or more of the locations set forth on <u>Annex A</u> (including any such Contracts entered into after the date of this Agreement and in compliance with <u>Section 6.1(a)</u>) (the Contracts under this clause (i), the "<u>Assumed Contracts</u>"); provided that any such Contracts that are Shared Contracts shall be governed by <u>Section 2.3</u> and shall be treated as Acquired Assets as and to the extent provided therein, and (ii) the Collateral Assets and other assets of the Company Sellers listed hereto on <u>Annex A</u> (collectively, the "<u>Acquired Assets</u>"), and the Collateral Agent's lien and security interest on and in the Collateral Assets and any other Acquired Assets, as the case may be, will be discharged by operation of, and to the fullest extent provided in, UCC Section 9-617 and any applicable contracts or agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Excluded Assets</u>. Notwithstanding the foregoing, the following Collateral Assets and assets, properties and rights of the Company Entities are expressly excluded from the purchase and sale contemplated hereby (the "<u>Excluded Assets</u>") and, as such, are not included in the Acquired Assets to be conveyed as contemplated hereby:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Cash in an amount equal to the Wind Down Amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) each Contract (i) that is listed on <u>Annex B</u> (including any such Contracts that would otherwise be Shared Contracts), (ii) in respect of Indebtedness owing by any Company Entity, (iii) that is exclusively or primarily related to the operation of the Business at one or more of the locations set forth on <u>Annex B</u> or (iv) that Buyer and the Company determine in writing prior to Closing, should be an Excluded Asset;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) all personal effects set forth on <u>Annex B</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) all refunds of Taxes to the extent such Taxes being refunded were an Excluded Tax and to the extent paid or borne by a Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) all rights of each Company Entity under or arising in connection with the negotiation and drafting of this Agreement, the other agreements and instruments executed and delivered in connection with this Agreement, and the transactions contemplated hereby or thereby, including without limitation all privileges of each such Party with respect to the foregoing (e.g., the attorney-client privilege);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) all bank accounts of the Company Entities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) all shares of capital stock or other equity interests in the Company Entities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) all rights of the Company Entities with respect to refunds, credits, prepaid expenses, deferred charges, advance payments, security deposits and prepaid items that relate exclusively to Excluded Assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) all rights, causes of actions, claims and credits to the extent related to any Excluded Asset or any Excluded Liability, including all guarantees, warranties, indemnities and similar rights in favor of any Company Entity to the extent in respect of any Excluded Asset or any Excluded Liability;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) all (i) director and officer liability insurance maintained by the Company Entities, (ii) rights to insurance claims, refunds and proceeds thereunder that relate exclusively to Excluded Assets or Excluded Liabilities and (iii) other insurance policies of the Company Entities (without limitation of the Buyer's rights pursuant to <u>Section 6.3(b)</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) (i) each Company Entity's minute books, equity books and other organizational records having to do with the formation and capitalization of a Company Entity, (ii) any personnel records and other records relating to the employees of such Company Entity that such Company Entity is required by Applicable Law to retain in its possession and duplicate copies of employment records that are turned over, and (iii) Tax Returns of such Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) all Employee Benefit Plans and all assets attributable thereto including any assets held by or on behalf of the Company Entities in trust, reserve or otherwise in respect of Employee Benefit Plans;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) the obligations in relation to the portions of Shared Contracts to be retained by the Company Sellers (or for which the Company Sellers are otherwise responsible) pursuant to <u>Section 2.3;</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) the real property, leasehold interests and related improvements listed on <u>Annex B</u> (the "<u>Excluded Real Property</u>"), together with all furniture, fixtures and equipment located thereon or therein, except that Buyer may, by written notice to the Company prior to the Closing, elect to acquire any such items of furniture, fixtures or equipment the Company Sellers have in their possession, which shall be conveyed at no additional cost to Buyer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) any assets, properties or rights of any Company Non-Seller or otherwise subject to Liens imposed pursuant to the Altmore Loan Agreement Documents (and all claims, causes of action, and proceeds arising therefrom); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16) all other assets identified as "<u>Excluded Assets</u>" on <u>Annex B</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Assumption and Exclusion of Liabilities</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) <u>Assumed Liabilities</u>. On the terms and subject to the conditions set forth in this Agreement, the Buyer shall assume and shall agree to pay, defend, discharge and perform as and when due and performable for only the Liabilities of the Company Sellers identified on <u>Annex C</u> (the "<u>Assumed Liabilities</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) <u>Excluded Liabilities</u>. Notwithstanding anything to the contrary contained in this Agreement, the Buyer will not assume, and the applicable Company Entities will pay, defend, discharge and perform, as when due and performable, and otherwise retain and remain solely responsible for, any and all Liabilities that are not expressly included in the Assumed Liabilities (such excluded Liabilities, the "<u>Excluded Liabilities</u>"). For the avoidance of doubt and without limiting the foregoing, (i) the Liabilities listed on <u>Annex D</u>, (ii) the Excluded Taxes, (iii) the Employee Liabilities, (iv) any Indebtedness of any Company Entities, (v) the portion of Liabilities related to or arising under the Shared Contracts to be retained by the Company Entities pursuant to <u>Section 2.3</u>, (vi) any Liabilities of any Company Non-Sellers, (vii) any Liabilities arising out of or relating to the Altmore Loan Agreement Documents or the Altmore Claims, and (viii) any Liabilities arising out of or relating to the Nuevo APA and Nuevo Note, Everest APA and Everest Note, Akimbo APA or under the Star Buds APAs are expressly Excluded Liabilities and, as such, are not included in the Liabilities to be conveyed as contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Assignment of Contracts and Rights</u>. Notwithstanding anything to the contrary contained in this Agreement, this Agreement shall not constitute an agreement to assign any Contract if an attempted assignment thereof, without consent of a third party thereto, would constitute a breach or other contravention thereof or in any way adversely affect the rights of the Buyer or the applicable Company Seller thereunder. In the event that the Closing proceeds without the assignment of such Contract, then (i) such asset shall be regarded as an Acquired Asset for purposes of determining the Purchase Price and (ii) following the Closing, the applicable Company Seller will use commercially reasonable efforts to obtain the consent of the other parties to any such Contract for the assignment thereof to the Buyer, but in no event shall any Party or any of their respective Affiliates be required to pay any consideration, incur any Liabilities, commence or become involved with any litigation or offer or grant any accommodation (financial or otherwise) to any other Person in connection with the Parties' efforts to obtain such consent. Unless and until such consent is obtained, or if an attempted assignment thereof would be ineffective or would adversely affect the rights of the Buyer or the applicable Company Seller thereunder so that the Buyer would not in fact receive all rights under such Contract, the applicable Company Seller and the Buyer will cooperate in an arrangement under which the Buyer would obtain the benefits and assume the obligations thereunder to the extent they are Assumed Liabilities in accordance with this Agreement, including subcontracting, sub-licensing, or subleasing to the Buyer (if possible), or under which the applicable Company Seller would enforce, for the benefit of the Buyer, any and all rights of such Company Seller against a third party thereto. The applicable Company Seller will promptly pay to the Buyer when received all monies received by such Company Seller under any such Contracts, and the Buyer shall pay, defend, discharge and perform all Liabilities to the extent they are Assumed Liabilities under such Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 <u>Shared Contracts</u>. Any Contract to be assigned, transferred and conveyed that is set forth on <u>Schedule 2.3</u> (each, a "<u>Shared Contract</u>") shall, unless Buyer and the Company otherwise agree, be treated in accordance with this <u>Section 2.3</u>. Subject to obtaining any necessary consent for such assignment, Buyer shall be assigned, transferred and conveyed all such Shared Contracts; provided, that, as between Buyer and the Company Sellers, (x) Buyer shall be responsible for performing under such Shared Contracts with respect to (and preserving the meaning of) those parts that are related to the Business at one or more of the locations set forth on <u>Annex A</u>, and (y) the applicable Company Sellers shall be responsible for performing under such Shared Contracts with respect to (and preserving the meaning of) all other parts of such Shared Contracts for which the applicable Company Sellers were so responsible prior to such assignment; provided that (i) in no event shall any Person be required to assign (or amend), either in its entirety or in part, any Shared Contract that is not assignable (or cannot be amended) by its terms without obtaining any required third party consents or approvals and (ii) if any Shared Contract cannot be so assigned by its terms or otherwise, or cannot be amended, without such third party consents or approvals, until such time as such consents or approvals are obtained, then the Company Sellers and the Buyer will cooperate to establish an agency type or other similar arrangement reasonably satisfactory to the Buyer intended to both (x)(1) provide Buyer, to the fullest extent practicable under such Shared Contract, the claims, rights and benefits of those parts that are related to the Business at one or more of the locations set forth on <u>Annex A</u> and (2) provide the Company Sellers with the claims, rights and benefits of those other portions of such Shared Contract and (y)(1) to the extent constituting Assumed Liabilities, cause Buyer to bear the costs and Liabilities thereunder to the extent related to the Business at one or more of the locations set forth on <u>Annex A</u>, and (2) cause the applicable Company Sellers to bear the other costs and Liabilities thereunder, in each case of clauses (x) and (y), in accordance with this Agreement (in each case, including by means of any contract manufacturing, co-packing, subcontracting, sublicensing or subleasing arrangement). In furtherance of the foregoing, (1) Buyer will promptly pay, perform or discharge when due any Assumed Liability arising thereunder to the extent related to the Business at one or more of the locations set forth on <u>Annex A</u> and the applicable Company Entity will promptly pay, transfer or convey all rights and benefits in respect of the Acquired Assets arising thereunder and (2) each applicable Company Seller will promptly pay, perform or discharge when due any other Liability arising thereunder. Each of Buyer and the applicable Company Seller will, and will cause its Affiliates to, use commercially reasonable efforts to enforce (at such other Party's direction) the rights granted to the other Party (at the other Party's reasonable expense) under this <u>Section 2.3</u>. Notwithstanding anything contained herein to the contrary, any transfer or assignment to Buyer of any Acquired Asset that shall require a consent or approval as described above in <u>Section 2.2(d)</u> shall be made subject to such consent or approval being obtained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 <u>Purchase Price; Allocation of Purchase Price</u>. The Buyer has agreed to purchase the Acquired Assets through the Sale Proceeding at the direction of the Required Consenting Senior Noteholder and by the terms hereof the Selling Parties, each acting in its respective capacity (the Collateral Agent, solely in its secured-party capacity under the Senior Notes Indenture, and the Company Sellers, as record owners), shall convey the Acquired Assets to the Buyer in exchange (i) a credit bid of the Senior Notes Obligations in an amount equal to the Credit Bid Amount, in full and final satisfaction of the Senior Notes Obligations, and (ii) the assumption only of the Assumed Liabilities set forth on <u>Annex C</u> (the "<u>Purchase Price</u>"). The Parties acknowledge and agree that (a) the disposition of the Collateral Assets hereunder constitutes a public sale of collateral conducted in a commercially reasonable manner under Article 9 of the UCC, and (b) the credit-bid of the Senior Notes Obligations constitutes "value" for purposes of Section 9-627(b) of the UCC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 <u>Closing</u>. Subject to the terms and conditions of this Agreement, the Closing shall take place at the offices of Polsinelli PC, 1401 Lawrence Street, Suite 2300, Denver, CO 80202, 10:00 a.m., Eastern Time, on the third (3) Business Day after all conditions to the Closing set forth in <u>Article 7</u> (other than those conditions that are to be satisfied by actions taken at the Closing, but subject to the satisfaction or waiver of such conditions at the Closing) have been satisfied or (to the extent permitted by Applicable Law) waived by the applicable Party entitled to the benefit thereof, including the Requisite Regulatory Approvals, or such other place or at such other time or on such other date as may be mutually agreed by the Buyer and the Collateral Agent. The date of the Closing is herein referred to as the "<u>Closing Date</u>." For accounting purposes, all transactions shall be deemed to occur at 12:01 a.m., Eastern Time on the Closing Date, and the Closing shall be effective as of 12:01 a.m., Eastern Time on the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 <u>Commercial Reasonableness</u>. The Parties acknowledge that the UCC sale constitutes a public disposition of collateral conducted in a commercially reasonable manner under Article 9 of the UCC, and waive any right to challenge the commercial reasonableness thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7 <u>Withholding</u>. The Buyer and its Affiliates, representatives and agents shall be entitled to deduct and withhold from any payments made pursuant to this Agreement any amounts required to be deducted or withheld from such payment(s) under any federal, state, local or foreign Applicable Law. In the event any such amounts are so deducted or withheld, the amount deducted or withheld shall be treated as having been paid to the Person in respect of which such amounts would otherwise have been paid for purposes of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8 <u>Transition Services</u>. If requested by either Buyer or the Company in the period prior to the Closing Date, Buyer and the Company may, but are not obligated to, negotiate any transition services and if agreed upon in writing, may enter into an amendment to this Agreement or a separate agreement governing the same.

**<u>Article 3</u>**

**<u>REPRESENTATIONS AND WARRANTIES CONCERNING THE COMPANY ENTITIES</u>**

Notwithstanding anything to the contrary provided in this Agreement, all representations, warranties and disclosures of the Parties in this <u>Article 3</u>, <u>Article 4</u> and <u>Article 5</u> are being made with exception to and not with respect to Federal Cannabis Laws. For purposes of this <u>Article 3</u>, each Company Entity is making these representations and warranties on behalf of itself and each of its Subsidiaries. As a material inducement to the Buyer entering into this Agreement, the Company Entities, jointly and severally, hereby represent and warrant to the Buyer that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 <u>Organization and Power</u>. Each Company Entity is a legal entity duly organized, validly existing, and in good standing (where such concept is applicable) under the laws of the jurisdiction of its organization. Each Company Entity is duly licensed or qualified to conduct business and is in good standing (where such concept is applicable) under the laws of each jurisdiction in which the character of the assets owned or leased, or the nature of the business conducted, by each of them requires such licensing or qualification, except where the failure to be so licensed or qualified or to be in good standing would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. All jurisdictions in which a Company Entity is qualified to do business are set forth on <u>Schedule</u> <u>3.1</u>. Each Company Entity has full power and authority to own and operate its properties and to carry on its business as now conducted and currently proposed to be conducted. The Company Entities have delivered or made available to the Buyer correct and complete copies of the certificate of formation and operating agreement (or comparable organizational documents) of each Company Entity (as amended to date). Each Company Entity is not and has not been in default under or in violation of any provision of its certificate or such organizational documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 <u>Authorization of Transactions; Valid and Binding Agreement</u>. Each Company Entity has full power and authority to execute and deliver this Agreement and each of the Ancillary Agreements to which it is or will be a party and to consummate the transactions contemplated hereunder and thereunder and to perform its obligations hereunder and thereunder. The execution of this Agreement and all Ancillary Agreements to which any Company Entity is or will be a party, and the consummation of the transactions contemplated hereby and thereby, have been authorized by all necessary actions of each Company Entity. This Agreement and the Ancillary Agreements to which any Company Entity is or will be a party have been (or will be) duly executed and delivered by such Company Entity, and, assuming the valid execution and delivery by the Buyer, this Agreement and the Ancillary Agreements to which any such Company Entity is or will be a party constitute or will constitute when executed valid and binding obligations of such Company Entity, enforceable against such Company Entity in accordance with their respective terms, subject to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors' rights and to general principles of equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 <u>Non-Contravention</u>. Except as set forth on <u>Schedule</u> <u>3.3</u>, the execution, delivery and performance by the Company Entities of this Agreement and all agreements, documents and instruments executed and delivered by the Company Entities pursuant hereto (including the Ancillary Agreements to which it is or will be a party) and the performance of the transactions contemplated by this Agreement and such other agreements, documents and instruments do not and will not: (i) violate or result in a violation of, conflict with or constitute or result in a default (whether after the giving of notice, lapse of time or both) under, accelerate any obligation under, or give rise to a right of termination of, any Contract, Permit or authorization to which any of the Company Entities are a party or by which it or any of the applicable Company Entity's assets are bound, (ii) violate or result in a violation of, conflict with or constitute or result in a default (whether after the giving of notice, lapse of time or both) under, or accelerate any obligation under, any provision of the applicable Company Entity's organizational documents; (iii) violate or result in a violation of, or constitute a default (whether after the giving of notice, lapse of time or both) under, any provision of any Applicable Law, or any order of, or any restriction imposed by, any court or Governmental Authority applicable to any of the Company Entities; or (iv) require from any Company Entity any notice to, declaration or filing with, or consent or approval of, any Governmental Authority or other third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 <u>[Reserved]</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 <u>Financial Statements; Indebtedness</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Schedule 3.5(a)</u> sets forth true and complete copies of: (i) the audited balance sheets and statements of operations and cash flows as of and for the Company Entities for the fiscal year ended December 31, 2023, (ii) the unaudited balance sheets and statements of operations and cash flows as of and for the Company Entities for the fiscal year ended December 31, 2024; and (iii) an unaudited balance sheet and statement of operations and cash flows for the Company Entities as of and for the nine (9) month period ended September 30, 2025 (the "<u>Reference Balance Sheet</u>" and such date, the "<u>Reference Balance Sheet Date</u>"). Each of the foregoing financial statements (the "<u>Financial Statements</u>") has been prepared from and is consistent in all material respects with the books and records of the Company Entities (which, in turn, are accurate and complete in all material respects), and such Financial Statements present fairly, in all material respects, in conformity with GAAP (other than as set forth therein or on <u>Schedule 3.5(a)</u>), the financial condition, results of operations and cash flows of each Company Entity as of and for the periods referred to therein. The Company Entities maintain and have maintained a system of internal controls that is sufficient to provide reasonable assurance that: (i) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP, (ii) receipts and expenditures are executed only in accordance with the authorization of management and (iii) accounts, notes and other receivables and inventory are recorded accurately in all material respects, and proper and adequate procedures are implemented to effect the collection thereof on a current and timely basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except for Indebtedness listed on <u>Schedule 3.5(b)</u>, the Company Entities have no Indebtedness outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6 <u>Absence of Undisclosed Liabilities</u>. The Company Entities do not have any Liabilities except for (i) Liabilities set forth on and fully reflected or reserved on the face of the Reference Balance Sheet (rather than in any notes thereto), (ii) Liabilities that have arisen in the Ordinary Course of Business since the Reference Balance Sheet Date and (iii) Liabilities set forth on <u>Schedule</u> <u>3.6</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7 <u>Accounts Receivable</u>. All of the accounts receivable of each Company Entity arose out of bona fide, arms' length transactions for the sale of goods or performance of services, are valid and enforceable claims, except as such enforceability may be subject to applicable bankruptcy, reorganization, insolvency, moratorium and similar Applicable Laws affecting the enforcement of creditors' rights generally, and by general principles of equity, and are not subject to set-off or counterclaim. Except as set forth on <u>Schedule 3.7</u>, (i) for the past three (3) years, each Company Entity has collected its accounts receivable in the Ordinary Course of Business and in a manner which is consistent with past practices, (ii) all accounts receivable are good and collectible within the Ordinary Course of Business, (iii) each Company Entity's accounts receivable balance does not include any customer deposits that are older than five (5) years and (iv) no accounts receivables are subject to any setoff or counterclaim, discounts or warranty claims.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8 <u>Absence of Changes</u>. Except as set forth on <u>Schedule</u> <u>3.8</u> and as expressly contemplated by this Agreement, since the Reference Balance Sheet Date, each Company Entity has conducted its business only in the Ordinary Course of Business, and there has not been any Material Adverse Effect. Without limiting the foregoing, since the Reference Balance Sheet Date, except as set forth on <u>Schedule 3.8</u>, such Company Entity has not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) suffered any theft, damage, destruction or casualty loss (without regard to any insurance) of or to any tangible asset or assets having a value in excess of $75,000 in the aggregate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) borrowed an amount or incurred or become subject to any Indebtedness (including contingently as a guarantor or otherwise);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) incurred any Liabilities in excess of $75,000, except current liabilities incurred in the Ordinary Course of Business and not constituting Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) issued, sold, redeemed or repurchased, directly or indirectly, any of its equity interests or any securities convertible into, or options with respect to, warrants to purchase, or rights to subscribe for, any equity interests of such Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) entered into any Seller Contract or amended or terminated such Company Entity's rights thereunder (other than a termination of a Seller Contract as a result of the expiration of the term of such Seller Contract), other than in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) (i) granted any bonus or any wage, salary or compensation increase to, or made any other material change in employment terms (or terms of engagement or service relationship) of or for, any Business Employee or Business Contingent Worker other than annual increases made in the Ordinary Course of Business with respect to any Person whose annual compensation opportunities are less than $100,000; (ii) increased or accelerated the funding, payment, or vesting of any compensation or benefits provided under any Employee Benefit Plan or any other benefit or compensation plan, policy, program, contract, agreement or arrangement; or (iii) established, adopted, amended or terminated any Employee Benefit Plan or any other benefit or compensation plan, policy, program, contract, agreement or arrangement that would be an Employee Benefit Plan if in effect as of the date thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) made any material change in its business practices, including, without limitation, any change in accounting methods or practices or collection, credit, pricing, rebate, discount or payment policies of such Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) made any loans or advances to, or guarantees for the benefit of, any Persons;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) changed or authorized any change in its certificate of formation, operating agreement or other governing or organizational documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) instituted or settled any claim or lawsuit that involved stated claims of more than $25,000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) acquired any other business or Person (or any significant portion or division thereof), whether by merger, consolidation or reorganization or by purchase of its assets or stock or acquired any other material assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) (i) made or changed any Tax election, (ii) changed any Tax accounting period, (iii) adopted or changed any method of Tax accounting, (iv) filed any amended Tax Return, (v) entered into any closing agreement with respect to Taxes, (vi) settled any Tax claim or assessment, (vii) surrendered any right to claim a Tax refund, or (viii) consented to any extension or waiver of the limitations period applicable to any Tax claim or assessment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) terminated or failed to maintain any insurance policy covering the applicable Company Entity's tangible assets or real property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) experienced any material change in its relationships with its material subcontractors, material suppliers, consumer financing providers, or Governmental Authorities that is adverse to such Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) entered into any employment agreement or arrangement with any Business Employee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) entered into any consulting, independent contractor or similar agreement with any Business Contingent Worker;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) become legally committed to any new capital expenditures required to be made following the Closing in excess of $100,000 in the aggregate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) terminated any employee or Contingent Worker other than in the Ordinary Course of Business with respect to any Person whose annual compensation opportunities are less than $100,000, or had any such Person resign;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) abandoned, dedicated to the public, allowed to lapse, cancelled, or allowed any other waiver or termination of any rights with or in any Owned IP, disclosed any Confidential Information of such Company Entity to any Person (excluding Persons under any agreement or obligation of confidentiality), or licensed to any Person any Owned IP (other than non-exclusive licenses granted in the Ordinary Course of Business);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) failed to maintain or timely renew, or allowed to lapse, any Seller License, or otherwise agreed to any penalties or changes affecting such Seller License; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) committed or agreed, in writing or otherwise, to any of the foregoing, except as expressly contemplated by this Agreement and the Ancillary Agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9 <u>Title to Personal Property; Sufficiency of Assets</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as set forth on <u>Schedule 3.9(a)</u>, the Company Entities have good and marketable title to, or a valid leasehold interest in, free and clear of all Liens (other than Permitted Liens), all of the personal property and assets included in the Acquired Assets. All of the tangible personal property and assets included in the Acquired Assets (i) have been properly maintained in the Ordinary Course of Business and pursuant to good industry practice, (ii) are in good condition and working order and repair (ordinary wear and tear excepted) and (iii) are suitable and sufficient for the purposes for which they are used.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as set forth on <u>Schedule 3.9(b)</u>, the Acquired Assets constitute all of the assets used by the Company Entities in operating the Business in the manner presently operated by the Company Entities. Except as set forth on <u>Schedule 3.9(b)</u>, the Acquired Assets are sufficient for the Buyer and its Affiliates to operate the Business after the Closing in substantially the same manner as operated by the Company Entities prior to the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 <u>Real Property</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Schedule 3.10(a)</u> identifies the street address and owner of record of each Owned Real Property. With respect to each Owned Real Property: (i) the applicable Company Entity has good and marketable indefeasible fee simple title to such Owned Real Property, free and clear of all Liens, except Permitted Liens; (ii) except as set forth on <u>Schedule 3.10(a)(ii)</u>, the applicable Company Entity has not leased or otherwise granted to any Person the right to use or occupy such Owned Real Property or any portion thereof; (iii) other than the right of Buyer pursuant to this Agreement, there are no outstanding options, rights of first offer or rights of first refusal to purchase such Owned Real Property or any portion thereof or interest therein; (iv) the applicable Company Entity is not a party to any agreement or option to purchase any real property or interest therein; (v) all buildings, structures, improvements, fixtures, building systems and equipment, and all components thereof, included in the Owned Real Property are in good condition and repair, reasonable wear and tear excepted, and sufficient for the operation of the Business; (vi) there is no condemnation, expropriation or other proceeding in eminent domain pending or, to the applicable Company Entity's Knowledge, threatened, affecting the Owned Real Property or any portion thereof or interest therein; (vii) the Owned Real Property is not located in an area designated by the Federal Emergency Management Agency as having special flood hazards; (viii) all of the utilities for the Owned Real Property are current and not in arrears; (ix) each parcel of Owned Real Property, and the applicable Company Entity's ownership, use, and possession thereof, are in compliance in all material respects with all Applicable Laws; (x) except as set forth on <u>Schedule 3.10(a)(x)</u> to the applicable Company Entity's Knowledge, there are no unrecorded mechanics', workmens', repairmen's, warehousemen's, carriers', or other like Liens affecting the Owned Real Property; and (xi) no Company Entity is a party to any, and, to the Knowledge of each Company Entity, there are no, unrecorded easements, declarations, covenants, conditions, restrictions, and rights of way affecting the Owned Real Property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Schedule 3.10(b)</u> identifies (i) the street address, landlord, and tenant of each parcel of Leased Real Property, and (ii) the identification of the lease, license, sublease or other occupancy agreements and all amendments, modifications, supplements, and assignments thereto, with respect to each parcel of Leased Real Property (collectively, the "<u>Leases</u>"), and the identification of all subleases, overleases, occupancy agreements and other ancillary agreements or material documents pertaining to each Company Entity's tenancy at each such parcel of Leased Real Property, including, without limitation, all memoranda of lease, consents, commencement date letters, letters of extensions, subordination, non-disturbance and attornment agreements, or correspondence that materially affect or may materially affect the tenancy at any Leased Real Property (collectively the "<u>Ancillary Lease Documents</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Material Leases and the Ancillary Lease Documents are valid, binding, enforceable, subject to applicable bankruptcy, insolvency, reorganization, receivership, moratorium, arrangement or assignment for the benefit of creditors, or similar state or federal laws and judicially developed doctrines relevant to any such laws, affecting the rights and remedies of creditors generally, and general principles of equity and in full force and effect and have not been modified or amended except as disclosed on <u>Schedule 3.10(c)</u>. The Leases and the Ancillary Lease Documents constitute all of and the only agreements under which the Company Entities hold leasehold, subleasehold, license, or other occupancy interests or rights in any real property. The Company Entities have made available to the Buyer full, complete and accurate copies of each of the Leases and all Ancillary Lease Documents described in <u>Schedule 3.10(b)</u>, as well as any and all exhibits, addenda, riders, estoppel certificates and other documents constituting a part of or relating to the Leases.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) With respect to each of the Material Leases identified on <u>Schedule 3.10(b)</u>, except as set forth on <u>Schedule 3.10(d)</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the Material Leases and all Ancillary Lease Documents are legal, valid, binding, enforceable and in full force and effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the Material Leases and all Ancillary Lease Documents are free and clear of all Liens (other than Permitted Liens);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) neither the Company Entities, nor, to the Knowledge of the Company Entities, any other party to any Material Leases or Ancillary Lease Documents are in material breach or default, and, no event has occurred which, with notice or lapse of time, would constitute such a material breach or default or permit termination, modification or acceleration under the Material Leases or any Ancillary Lease Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) the rent set forth in each Material Lease of the Leased Real Property is the actual rent being paid, and there are no separate agreements or understandings with respect to the same;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) the applicable Company Entity's possession and quiet enjoyment of the Leased Real Property under such Material Lease has not been disturbed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) there are no material disputes with respect thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) except as set forth in any amendment, modification, or supplement identified in <u>Schedule 3.10(b)</u>, the Company Entities have not exercised or given any notice of exercise, nor has any Company Entity received from any lessor or landlord exercised or received any notice of exercise, of any option, right of first offer or right of first refusal contained in any such Material Lease or Ancillary Lease Document, including any such option or right pertaining to purchase, expansion, renewal, extension or relocation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) the transactions contemplated by this Agreement (i) do not require any consent of or notice to the landlord under each Material Lease or any other Person, except as set forth on <u>Schedule 3.10(d)</u> and (ii) will not cause a breach or default under the terms of any of the Leases.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) During the past three (3) years, no Company Entity has received written notice from any insurance company that such insurance company will require any material alteration to any Leased Real Property for continuance of a policy insuring such property or the maintenance of any rate with respect thereto (other than any notice of alteration that has been completed), to the extent that such alteration is the responsibility of any such Company Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) No security deposit or portion thereof deposited with respect to any of the Material Leases has been applied in respect of a breach or default under such Material Lease which has not been redeposited in full.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Except as set forth on <u>Schedule 3.10(h)</u>, all rent and other charges currently due and payable under the Material Leases have been paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Except as set forth on <u>Schedule 3.10(i)</u>, to each applicable Company Entity's Knowledge: (i) there are no material defects in the physical or structural condition of the premises leased under the Material Leases; (ii) there are no material items of maintenance or repair with respect to which such Company Entity is responsible under any Material Lease; (iii) the applicable Company Entity's occupancy, use and operation of the Leased Real Property pertaining to a Material Lease, complies in all material respects with all Applicable Laws; and (iv) such Company Entity has not received written notice of any pending or, threatened, or existing appropriation, condemnation, eminent domain or like proceedings relating to the Leased Real Property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) During the preceding three (3) years, none of the Leased Real Property has suffered any material damage by fire or other casualty which has not heretofore been repaired and restored in all material respects, except for damage that would not individually or in the aggregate, materially impair the conduct of the Business of the applicable Company Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Except as set forth on <u>Schedule 3.10(j)</u>, no Company Entity owes, or will owe in the future, any brokerage commissions or finder's fees with respect to any Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Except as set forth on <u>Schedule 3.10(k)</u>, no Company Entity has leased, licensed, or otherwise granted to any Person, the right to use or occupy the Leased Real Property pertaining to a Material Lease, or any portion thereof, or, subleased, assigned, collaterally assigned, mortgaged, deeded in trust, or otherwise transferred or encumbered any Material Lease or interest therein relating to the Leased Real Property. No Company Entity has entered into any other contract for the assignment or other transfer of the Leased Real Property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.11 <u>Contracts and Commitments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as specifically contemplated by this Agreement or as set forth on <u>Schedule 3.11(a)</u>, no Company Entity is a party to or bound by any:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Contract for the purchase or sale of goods or services, whether by or from any Company Entity, for aggregate consideration in excess of $50,000 for the twelve (12) month period following the date of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Except as disclosed pursuant to clause (1) above, Contract involving a potential commitment or payment by a Company Entity in excess of $50,000 or more within the twelve (12) month period following the date hereof and that is not cancelable without Liability on thirty (30) or fewer days' notice to the other party thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) employment, independent contractor, or consulting, deferred compensation, severance, or bonus Contract with any Business Employee, former employee, Business Contingent Worker or former Contingent Worker that (i) provides for (A) annual cash compensation opportunities that exceed $100,000 in the aggregate, (B) payment of any severance benefits, (C) change-of-control, retention or other payments or benefits that will be triggered solely by the consummation of the transactions contemplated herein or (D) any right to be issued, or to purchase, equity (or any award or compensation denominated in equity) of any Company Entity or (ii) cannot be terminated upon less than 60 days' notice without payment, Liability, or obligation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) collective bargaining agreement or other labor-related Contract with an Employee Representative Body (each, a "<u>Labor Agreement</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Contract relating to Indebtedness (including guaranty arrangements) or to mortgaging, pledging or otherwise placing a Lien on any of its assets, or any guaranty of an obligation of a third party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) Contract under which a Company Entity is lessee of, or holds or operates, any property, real or personal (including the Leases), owned by any other party calling for payments in excess of $50,000 annually or under which it is lessor of or permits any third party to hold or operate any property, real or personal, owned or controlled by a Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) Contract relating to the ownership of or investment in any business or enterprise (including investments in joint ventures and minority equity investments);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) Contract limiting the freedom of a Company Entity, or that would limit the freedom of Buyer or any of its Affiliates after the Closing Date, to freely engage in any line of business or with any Person anywhere in the world or during any period of time, including, without limitation, any Contract containing an exclusivity obligation, most-favored-nation provision or "best price" obligation enforceable against a Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) Contract for the license of any Intellectual Property, whether licensed out by any Company Entity to any other Person or licensed in to any of a Company Entity by any other Person (excluding any (A) "off-the-shelf" or other software that is readily available pursuant to a standard "shrink-wrap" or other similar license agreement and has a purchase price or annual license fee of less than $10,000; (B) non-exclusive licenses granted in the Ordinary Course of Business to or from any customer; and (C) open source licenses);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) Contract which contains a non-competition, non-solicitation or other restrictive covenant applicable to any counterparty to such agreement (other than confidentiality agreements entered into in the Ordinary Course of Business);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) Contract relating to the distribution, marketing, advertising, sponsorship or sales of a Company Entity's products and/or services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) Contract under which a Company Entity has advanced or loaned any other Person any amount that remains outstanding in excess of $25,000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) Contract evidencing any settlement within the past three (3) years of any Proceeding or dispute that is material to any Company Entity, taken as a whole;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) Contract with any Subcontractor of a Company Entity, excluding purchase orders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) Contract with any supplier of a Company Entity, excluding purchase orders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16) Contract with any Governmental Authority;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17) Contract which contains any provisions requiring a Company Entity to indemnify any other party, other than (i) commercial contracts entered into in the Ordinary Course of Business, (ii) indemnity obligations in organizational documents of a Company Entity or (iii) indemnity obligations to an employee which obligations would not be included in the Assumed Liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18) Contract with retailers or otherwise which provides a Company Entity with the ability to market and generate leads at that particular venue;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19) Contract that relates to the sale of a Company Entity's material assets in excess of $25,000, other than in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20) power of attorney;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21) any Shared Contract; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22) Contract relating to the acquisition or disposition of the business of any Company Entity (whether by merger, sale of stock, sale of assets, or otherwise).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Contracts required to be disclosed on <u>Schedule 3.11(a)</u> are referred to herein as the "<u>Seller Contracts</u>". The Company Entities have delivered or made available to the Buyer true and correct copies of each Seller Contract, together with all amendments, waivers and other changes thereto. Except as disclosed on <u>Schedule 3.11(b)</u>, (i) no Seller Contract has been canceled or, to the applicable Company Entity's Knowledge, materially breached by the other party, and the applicable Company Entity has no Knowledge of any planned material breach by any other party to any Seller Contract, (ii) no Company Entity is in material default under or in material breach of any Seller Contract, and no event or condition has occurred or arisen which with the passage of time or the giving of notice or both would result in a material default or breach thereunder, and (iii) each Seller Contract is legal, valid, binding, enforceable and in full force and effect, subject to applicable bankruptcy, insolvency, reorganization, receivership, moratorium, arrangement or assignment for the benefit of creditors, or similar state or federal laws and judicially developed doctrines relevant to any such laws, affecting the rights and remedies of creditors generally, and general principles of equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12 <u>Intellectual Property</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Schedule 3.12(a)</u> contains a complete and accurate list of all registered and pending applications of Owned IP ("<u>Registered IP</u>"), in each case listing the (i) name of the applicant/registrant or current owner, (ii) jurisdiction where the application or registration has been filed, (iii) application or registration number, and (iv) current status. The Registered IP (other than unregistered trademarks) is registered or applied for, as applicable, in the name of the applicable Company Entity and is in compliance with all formal legal requirements. To the applicable Company Entity's Knowledge, the Registered IP and all Intellectual Property exclusively licensed to such Company Entity is valid and enforceable and in full force and effect. Except as set forth on <u>Schedule 3.12(b)</u>, no Registered IP is subject to any challenge or proceeding in which the ownership, scope, validity or enforceability is being contested or challenged (including any cancellation, opposition, interference, inter partes review, or reexamination proceedings). No loss or expiration of any of Registered IP is pending, or, to the applicable Company Entity's Knowledge, threatened. The Owned IP and all other Intellectual Property that is necessary for, or used or held for use in, the operation of the business, as now conducted or as presently proposed to be conducted as documented in written business plans adopted or approved by the governing body of the applicable Company Entity is either (a) exclusively owned by such Company Entity, free and clear of all Liens, or (b) validly licensed to such Company Entity pursuant to a written license agreement, from a third Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as set forth on <u>Schedule 3.12(b)</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) (A) No Company Entity has received in the three (3) years prior to the date hereof any written notices of, nor are there any claims pending or, to any Company Entity's Knowledge, threatened, alleging the infringement, misappropriation, or other violation of rights in Intellectual Property of any other Person with respect to any activity of such Company Entity, including the operation of the Business and the use by such Company Entity of any Intellectual Property; and (B) to any Company Entity's Knowledge, no third party is infringing, misappropriating or otherwise violating any Owned IP, and in the three (3) years prior to the date hereof, no such claims have been brought or threatened in writing against any Person by or on behalf of such Company Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The activities of the Company Entities and the conduct of the business of the Company Entities have not, in the three (3) years prior to the date hereof, and do not infringe, constitute an unauthorized use of, misappropriate, dilute or otherwise violate any Intellectual Property of any Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Each Company Entity has obtained and possess valid licenses to use all of the software programs present on the computers and other software-enabled electronic devices that it owns or leases or that it has otherwise provided to its employees and other personnel for their use in connection with the business of such Company Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The Company Entities have taken reasonable measures consistent with normal industry practices to protect, maintain and enforce the Company Entities' rights in and the confidentiality and value of all trade secrets and other confidential information that the Company Entities own or use in the operation of its business, and, to the Company Entities' Knowledge, there have been no unauthorized uses or disclosures of any such trade secrets or confidential information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) The Company Entities do not (A) own or license any software that is material to the operation of the Business of any of the Company Entities, or (B) develop, distribute, maintain, sell, license out, or make commercially available any software products or services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) The Company Entities are and at all times have been in material compliance with all (A) Applicable Laws and with all of its internal and posted policies and procedures that relate to or govern the collection, storage, transfer (including, without limitation, any transfer across national borders) and/or use ("<u>Processing</u>") of any personally identifiable information from any individuals, including, without limitation, any customers, prospective customers, employees and/or other third parties (collectively "<u>Personal Data</u>"); (B) the Payment Card Industry Data Security Standards; and (C) all contractual obligations regarding the Processing of Personal Data ("<u>Privacy Requirements</u>"). With respect to such Personal Data, the Company Entities have taken commercially reasonable steps to seek to protect such Personal Data against loss and against unauthorized access or use in a manner that would violate the privacy rights of any Person under Applicable Law. There has been no security breach of or ransomware attack on any of the Company Entities' security systems used for the collection, storage or retrieval of Personal Data nor has there been any other incident that resulted in any unauthorized access to, use and/or disclosure of any Personal Data held by the foregoing. The Company Entities have not received any written (or, to any Company Entity's Knowledge, oral) complaints, or notices of inquiry or investigation, from any person, patient, client, regulatory authority or customer regarding any Company Entity's compliance with the Privacy Requirements and/or its or any of its agents', employees' or contractors' uses or disclosures of, or security practices regarding Personal Data. Each Company Entity has required and does require all third parties to which it provides Personal Data and/or access thereto to maintain the privacy and security of such Personal Data, including by contractually obligating such third parties to protect such Personal Data in accordance with the Privacy Requirements, and the Company Entities have not been notified by any such third party of any security breach impacting Personal Data processed on behalf of the Company Entities. None of the Company Entities are subject to the General Data Protection Regulation 2016/679 of the European Parliament and of the Council of 27 April 2016 or any other privacy or data protection laws of any jurisdictions outside of the United States. The Company Entities have not distributed and do not distribute marketing communications to any Person, except in accordance with Privacy Requirements. <u>Schedule 3.12(b)(vi)</u> identifies the categories of Personal Data collected by each applicable Company Entity and sets forth the physical and electronic locations where such Personal Data is stored.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) The computer systems, servers, network equipment and other computer hardware owned, leased or licensed by each Company Entity and otherwise used in the business of any of the Company Entities (the "<u>IT Systems</u>") are adequate and sufficient (including with respect to working condition and capacity) for the operations of the Company Entities, as currently conducted. The Company Entities have continuously operated in a reasonable manner to preserve and maintain the performance, security and integrity of the IT Systems (and all software, information or data stored on any IT Systems) and have maintained reasonable documentation regarding its methods of operation and its support and maintenance. To each Company Entity's Knowledge, during the three (3) year period prior to the date of this Agreement there has been no unauthorized access to, use of or material disruption to the operation of any IT Systems. During the three (3) year period prior to the date of this Agreement, the Company Entities' IT Systems have not malfunctioned or experienced defects that caused a material disruption to the operation of the Businesses of any of the Company Entities, which such defects have not been resolved in all material respects. To each Company Entity's Knowledge, the IT Systems and all software included in the Owned IP is free of viruses, malware, time bombs, Trojan horses and other similar corruptants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13 <u>Litigation; Proceedings</u>. Except as set forth on <u>Schedule</u> <u>3.13</u>, during the past (3) years, there have been no actions, litigations, suits, claims, complaints, charges, proceedings, orders, judgments, decrees, audits or investigations pending or, to each Company Entity's Knowledge, threatened against any such Company Entity or any of such Company Entity's directors, managers, officers or employees, in or by virtue of their capacity as such, at law or in equity, or before or by any federal, state, municipal, local or other governmental department, commission, board, bureau, court, tribunal, forum agency or instrumentality, any other Governmental Authority, or any arbitration, mediation or other dispute resolution forum, domestic or foreign. Except as set forth on <u>Schedule 3.13</u>, to the Knowledge of each Company Entity, no event has occurred, and no claim, dispute or other condition or circumstance exists, that will or could reasonably be expected to rise to or serve as a basis for the commencement of any action, litigation, claim complaint, suit, charge or proceeding. With respect to each of the matters set forth on <u>Schedule 3.13</u>, such schedule indicates whether a claim was, has been or will be filed for coverage under any applicable insurance policy. Except as set forth on <u>Schedule 3.13</u>, none of the Company Entities are subject to any arbitration, proceeding under collective bargaining Contracts or, to each Company Entity's Knowledge, any governmental investigation, audit or inquiry relating to or affecting the Business, the Acquired Assets or the Assumed Liabilities. Except as set forth on <u>Schedule 3.13</u>, no Company Entity is subject to any outstanding order, judgment or decree issued by any court or quasi-judicial or administrative agency or other Governmental Authority of any federal, state, local or foreign jurisdiction or any arbitrator relating to or affecting the Business, the Acquired Assets or the Assumed Liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14 <u>Governmental Licenses and Permits</u>. <u>Schedule</u> <u>3.14</u> contains a list of all material Permits issued by Governmental Authorities that are owned or possessed by each Company Entity or any Person in connection with the Business, and no other material Permits issued by Governmental Authorities are required to be owned or possessed by any of the Company Entities or any Person for the conduct of the Business as now conducted and currently proposed to be conducted in all material respects. The Permits set forth on <u>Schedule 3.14</u> are collectively referred to herein as the "<u>Seller Licenses</u>". Except as set forth on <u>Schedule 3.14</u>, all of the Seller Licenses are valid and in full force and effect, are transferable as part of the Acquired Assets, if applicable, and will continue in full force and effect for the benefit of the operation of the Acquired Assets by the Buyer immediately following the Closing. Except as set forth on <u>Schedule 3.14</u>, each Company Entity is, and at all times during the three (3) year period prior to the Closing has been, in material compliance with all obligations under each such Seller License and any other material Permit any of the Company Entities possessed at any time during the three (3) year period prior to the Closing. No event has occurred that, with or without notice or lapse of time or both, would constitute a breach or default under any Seller License or would reasonably be expected to result in the revocation, suspension, lapse or limitation of any such Seller License, with or without notice or lapse of time or both. Except as set forth on <u>Schedule 3.14</u>, with respect to each Seller License and any other material Permit the Company Entities possessed or was required to have possessed to operate the Business as of the Closing and at any time during the three (3) year period prior to the Closing, neither any Company Entity, nor to the Knowledge of any Company Entity, any other Person to whom any Seller License has been issued or was required to have possessed a Permit, has received any written notice of the pending, threatened, or actual revocation, dispute, suspension, lapse, modification, restriction or other material limitation of any such Seller License or other material Permit, or notice of any alleged or actual breach of or non-compliance with any obligation under such Seller License, other material Permit, or any Applicable Law requiring such Company Entity to obtain a Permit. There are no provisions in, or agreements relating to, any Seller License that preclude or limit a Company Entity from operating and carrying on its Business as currently conducted. There has been no decision by a Company Entity or, to the Knowledge of any Company Entity, any other Person to whom any Seller License, or other Permit used in connection with the Business has been issued, not to renew any such Seller License.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15 <u>Compliance with Laws</u>. Except as disclosed on <u>Schedule</u> <u>3.15</u>, each Company Entity is, and for the past three (3) years each Company Entity has been, in compliance in all material respects with all Applicable Laws that are applicable to such Company Entity, the Business, business practices (including the applicable Company Entity's cultivation, marketing, sales and distribution of its cannabis products and services), operations, services, properties or assets (including the Acquired Assets) and to which any Company Entity may be subject (excluding Federal Cannabis Laws). All regulatory disclosures, consumer agreements, advertising, promotional and sales materials and any and all other marketing practices used by any of the Company Entities, have complied and are currently in compliance with all Applicable Laws in all material respects. Each Company Entity is currently, and for the past three (3) years each Company Entity has been, in material compliance with all (i) state and local licensing and regulating bodies pertaining to cannabis (including marijuana, hemp and derivatives thereof, including cannabidiol), including emergency rules and industry bulletins, in each case as they are released and (ii) all Applicable Laws governing or pertaining to cannabis (including marijuana, hemp and derivatives thereof, including cannabidiol), in each case as applicable to the Business (except for Federal Cannabis Laws). Except as set forth on <u>Schedule 3.15</u>, during the three (3) year period prior to the date hereof, no Company Entity has received any written notice alleging a violation of any such Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.16 <u>Taxes</u>. Except as set forth on <u>Schedule 3.16</u>, with respect to the Business, the Acquired Assets and the Assumed Liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Company Entity has timely filed all income or other material Tax Returns that were required to be filed, and all such income or other material Tax Returns are true, correct and complete in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All Taxes due and payable by the Company Entities, whether or not shown or required to be shown on any Tax Return, have been timely paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) There are no Liens for Taxes upon any of the Acquired Assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company Entities have withheld and paid all Taxes required to have been withheld and paid in connection with amounts paid or owing to any employee, Contingent Worker, creditor, or other third party, and all Forms W-2 and 1099 required with respect thereto have been properly completed and timely filed, and the Company Entities have complied with all other material reporting requirements (including maintenance of the required records with respect thereto) with respect to such payments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) No deficiency for any amount of Tax has been asserted, in writing or, to the Knowledge of any Company Entity, orally, or assessed by a Governmental Authority against any Company Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) There is no action, suit, proceeding or audit or any notice of inquiry of any of the foregoing pending against or with respect to any Company Entity regarding Taxes and no action, suit, proceeding or audit has been threatened in writing against or with respect to any Company Entity regarding Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) No claim has ever been made by a Governmental Authority in a jurisdiction where a Company Entity does not file Tax Returns that such Company Entity is or may be subject to taxation by that jurisdiction or may be required to file a Tax Return in that jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The Company Entities do not "participate" and have not ever "participated" in any "reportable transactions" within the meaning of Treasury Regulations Section 1.6011-4(b)(1).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) No agreement, waiver or other document or arrangement extending or having the effect of extending the period for the assessment or collection of Taxes (including any applicable statute of limitation), has been executed or filed with the IRS or any other taxing authority by or on behalf of the Company Entities and no power of attorney with respect to any Tax matter is currently in force.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) None of the Acquired Assets is an interest (other than indebtedness within the meaning of Section 163 of the Code) in an entity taxable as a corporation, partnership, trust or real estate mortgage investment conduit for U.S. federal income tax purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.17 <u>Labor</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Schedule 3.17(a)</u> sets forth a true, accurate, and complete list as of the date hereof of each individual providing services to the Business as an employee, including the following information for each such individual: (i) name or employee ID, (ii) position or job title, (iii) date of hire, (iv) primary work location, (v) full-time or part-time status, (vi) annualized base salary or hourly wage rate (as applicable), (vii) incentive compensation for the current and prior calendar year, (viii) accrued paid time-off balance, (ix) active or inactive status (and, if inactive, the type of leave and estimated return to work date), (x) exempt or non-exempt status, (xi) employing entity, and (xii) immigration or work authorization status.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Schedule 3.17(b)</u> sets forth a true, accurate, and complete list as of the date hereof of each individual providing services to the Business as an independent contractor, including the following information for each such individual: (i) name or service provider ID, (ii) service start date, (iii) term of relationship and anticipated or scheduled end date, (iv) a general description of the services being provided or the role in the Business served, (v) fee or compensation arrangements (i.e. hourly, salary, project fee basis), and (vi) fees and other compensation paid and accrued in respect of services performed for the Business from January 1, 2025, through the date of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) None of the Company Entities is party to or bound by any Labor Agreement, no Labor Agreements are currently being negotiated by or on behalf of any Company Entity, and no Business Employees are represented by an Employee Representative Body with respect to their employment with the Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) No Labor Agreement requires consultation with or consent from any Employee Representative Body in connection with the entry into this Agreement or the consummation of the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) During the past three (3) years, there have been no union organizing activities, efforts or campaigns by any Employee Representative Body or on behalf of any Business Employees with respect to their employment with the Business, including election petitions filed with the National Labor Relations Board (the "<u>NLRB</u>"), demands for recognition, or other similar actions. Except as set forth on <u>Schedule 3.17(e)</u>, in the past three (3) years, there has been no actual or threatened unfair labor practice charge, material grievance, material labor arbitration, strike, lockout, work stoppage, picketing, slowdown, hand billing or other material labor dispute against or affecting any Company Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Except as set forth on <u>Schedule 3.17(f)</u>, each Company Entity is, and for the last three (3) years has been, (A) in material compliance in all respects with all Applicable Laws and regulations respecting or relating to wages and hours, including, without limitation, with respect to treatment and payment of tips, commissions, overtime, wages and all other compensation, deductions from pay, timely payment of wages and compensation, meal breaks and rest periods, time records and time keeping, and the proper classification, treatment and payment of each (x) employee for purposes of all Applicable Laws (including the treatment of employees as exempt or non-exempt for wage and hour law purposes), and (y) Contingent Worker (including, without limitation, for purposes of compensation, benefits, Taxes, and perquisites) and (B) in compliance in all material respects with all Applicable Laws and regulations respecting or relating to labor, employment, employment practices and terms and conditions of employment including, without limitation, fair employment practices, discrimination, harassment, retaliation, whistleblower protections, accommodation of disabilities, background checks, child labor, mass layoffs, plant closings, reductions in force, furloughs, family and medical leave, leaves of absence, time off, work authorization and immigration, workplace safety and health, workers compensation, unemployment insurance and compensation, affirmative action, prevailing wages and terms and conditions of employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Each Company Entity has made timely and proper payment of all amounts payable to each Business Employee, former employee, Business Contingent Worker, and former Contingent Worker, including all wages, salaries, commissions, bonuses, fees and other compensation due with respect to any employment or service relationship with or services performed for such Company Entity, payout of any accrued but unused paid time off and amounts required to be reimbursed to such Persons. No Company Entity is liable for any employment Taxes, contributions, fines, penalties, assessments, or any payment to any trust or other fund governed by or maintained by or on behalf of any Governmental Authority with respect to unemployment compensation, social security or other benefits or obligations for Business Employees, former employees, Business Contingent Workers or former Contingent Workers (other than routine payments made in the Ordinary Course of Business).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Except as set forth on <u>Schedule 3.17(h)</u>, there are no material Proceedings, grievances, complaints, charges, litigations, audits, mediations, arbitrations or other private dispute resolution proceedings with respect to any employment or labor matters, policies, procedures, or practices (including, without limitation, involving, relating to, or arising out of allegations of employment discrimination, sexual or other harassment, sexual misconduct, retaliation, wage and hour law violations, misclassifications of Business Employees, former employees, Business Contingent Workers or former Contingent Workers, breach of any employment, consulting or independent contractor agreement, or Labor Agreement, or unfair labor practices) pending or, to the Knowledge of the Company Entities, threatened against any Company Entity in, by or before any judicial, regulatory or administrative forum, any other Governmental Authority, or under any private dispute resolution procedure or internally. Except as set forth on <u>Schedule 3.17(h)</u>, there have not been within the last three (3) years any Proceedings, grievances, complaints, charges, litigations, audits, mediations, arbitrations or other private dispute resolution proceedings with respect to any wage and hour law violations, misclassifications of Business Employees, former employees, Business Contingent Workers or former Contingent Workers pending or, to the Knowledge of the Company Entities, threatened against any Company Entity in, by or before any judicial, regulatory or administrative forum, any other Governmental Authority, or under any private dispute resolution procedure or internally.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) There are no, and during the past three (3) years there have been no, Governmental Authority conciliation agreements, noncompliance findings or audits pending with respect to any executive, director or officer of any Company Entity or the employment policies or practices of any Company Entity, and to Knowledge of the Company Entities, no such audit or investigation is threatened or planned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Except as set forth on <u>Schedule 3.17(j)</u>, each Business Employee located in the United States is employed on an at-will basis, and his or her employment can be terminated at any time by any party and for any lawful reason, without penalty or notice of more than 30 days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Except as set forth on <u>Schedule 3.17(k)</u>, to the Knowledge of the Company Entities, no Business Employee or Business Contingent Worker with annualized compensation at or above $100,000 intends to terminate his or her employment or service prior to the one-year anniversary of the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) In the past three (3) years, no Company Entity has implemented any "plant closing" or "mass layoff" of employees as those terms are defined under the WARN Act triggering notice under WARN, nor is there presently any outstanding Liability under the WARN Act, and no plant closings or mass layoffs of employees that could trigger Liability under the WARN Act are currently contemplated, planned, or announced.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.18 <u>Employee Benefit Plans.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Schedule 3.18(a)</u> sets forth a true and complete list of each material Employee Benefit Plan and the entity that sponsors, maintains or contributes to, or is the counterparty to the Employee Benefit Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) With respect to each Employee Benefit Plan, the Company has made available to Buyer the following: (i) the most current plan document (or, if not written, a written summary of its terms), (ii) each related trust agreement and other funding instrument, administrative services agreement, group annuity contract, and insurance contract, (iii) the most recent IRS determination or prototype opinion letter, if applicable, (iv) each summary plan description, (v) each non-routine correspondence with any Governmental Authority dated within the past three (3) years, and (vi) the most recent financial statements and Form 5500 annual report (including attached schedules).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Employee Benefit Plan (and each related trust, insurance, contract, and fund) is and has been established, documented, operated, maintained, funded, and administered in material compliance in all respects with its terms and all Applicable Laws. All contributions and payments that are due pursuant to an Employee Benefit Plan have been paid on a timely basis or, to the extent not yet due, accrued in accordance with GAAP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) No Company Entity or ERISA Affiliate has at any time maintained, sponsored, contributed to or had any outstanding Liability with respect to any (i) "multiemployer plan" (as defined in Section 3(37) of ERISA), (ii) plan that is or has been subject to Title IV of ERISA Section 412 of the Code or Section 302 of ERISA, (iii) "multiple employer plan" (within the meaning of Section 210 of ERISA or Section 413(c) of the Code), (iv) "multiple employer welfare arrangement" (as such term is defined in Section 3(40) of ERISA) or (v) voluntary employees beneficiary association under Section 501(c)(9) of the Code. No Liability under (x) Title IV of ERISA, (y) Section 302 of ERISA or (z) Section 412 of the Code has been, or could reasonably be expected to be, incurred by any Company Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Except as set forth on <u>Schedule 3.18(e)</u>, no Company Entity has any obligation to provide post-employment, post-termination or post-ownership welfare benefits other than as required under COBRA for which the covered individual pays the full cost of coverage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) No Employee Benefit Plan is the subject of a Proceeding with any Governmental Authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Each Employee Benefit Plan that is intended to be qualified under Section 401(a) of the Code has received a favorable determination letter from the IRS or is the subject of a favorable opinion letter from the IRS on the form of such Employee Benefit Plan upon which each adopting employer is entitled to rely in accordance with the applicable IRS pronouncements, and to any Company Entity's Knowledge, there is no reasonable basis for any such Employee Benefit Plan to lose its Tax-qualified status.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Each Employee Benefit Plan that constitutes in any part a nonqualified deferred compensation plan within the meaning of Section 409A of the Code has been documented, operated, and maintained in material compliance with Section 409A of the Code and all applicable IRS guidance promulgated thereunder. No Company Entity has been required to report any Taxes as a result of the operation of Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) No Company Entity has a current or contingent obligation to indemnify, gross up, reimburse, or otherwise make whole any Person for any Taxes, including those imposed under Section 4999 or Section 409A of the Code (or any similar provisions of state, local, or foreign Applicable Law).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Except as set forth on <u>Schedule 3.18(j)</u>, neither the execution and delivery of this Agreement nor the consummation of the transactions contemplated hereby could (either alone or in conjunction with any other event) (i) accelerate the time of vesting, payment or funding of any compensation or benefits under any Employee Benefit Plan, (ii) increase any benefits otherwise payable under any Employee Benefit Plan, (iii) result in the payment of any amount that could, individually or in combination with any other such payment, constitute an "excess parachute payment" (within the meaning of Section 280G of the Code) or (iv) entitle the recipient of any payment or benefit under any Employee Benefit Plan to a "gross-up" payment for any income or other Taxes that might be incurred with respect to such payments or benefits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Except as set forth on <u>Schedule 3.18(k)</u>, no Employee Benefit Plan is maintained primarily for individuals who are residents outside of the United States (each, a "<u>Foreign Benefit Plan</u>"). Each Foreign Benefit Plan required to be registered or approved has been registered or approved and has been maintained and administered in good standing with applicable Governmental Authorities in all material respects. Each Foreign Benefit Plan that is intended to qualify for favorable Tax benefits under the Applicable Laws of any jurisdiction is so qualified, and no condition exists, and no event has occurred that would reasonably be expected to result in the loss or revocation of such qualification. No Foreign Benefit Plan is a defined benefit pension plan or scheme. There are no unfunded Liabilities for deferred compensation, pension benefits, pension schemes or termination indemnities related to any period of time under any Foreign Benefit Plan, or with respect to any current or former employee, director, officer or Contingent Worker employed or engaged outside of the United States, except for any Liabilities reflected in accordance with GAAP on the Financial Statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.19 <u>Insurance</u>. Each Company Entity has in full force and effect insurance policies of the types and in the amounts that such Company Entity reasonably believes is adequate for the Business and all such insurance that is required by Applicable Law. <u>Schedule</u> <u>3.19</u> lists each insurance policy maintained by or on behalf of each Company Entity with respect to its properties, assets and business, together with a claims history for the past two (2) years. All of such insurance policies are in full force and effect and will continue in full force and effect following the Closing. All premiums or other payment obligations due and payable with respect to such insurance policies have been paid to date, and since January 1, 2023, such Company Entity has not been (i) in default with respect to its Liabilities under any such insurance policies or (ii) denied insurance coverage. During the past two (2) years there have been no material changes in the amounts of premiums charged for such policies (including any precedent or successor policies) other than ordinary market based or coverage change increases and none of the Company Entities have received any written indication that the insurance carriers issuing any policy currently in effect intends to cancel any policy or increase the premiums by more than an immaterial amount upon renewal or otherwise. The Company Entities do not have any self-insurance or co-insurance program. The Company Entities have given notice or have otherwise presented in a timely fashion every material claim that has been asserted but is not yet resolved relating to the Business that is known by the applicable Company Entity to be covered by insurance under the policies in place at the time of such claim.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20 <u>Environmental Matters</u>. Except as listed in <u>Schedule</u> <u>3.20</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company Entities have made available to the Buyer true, correct and complete copies of all material reports, assessments, testing results, and other material documents that are in the possession or control of any of the Company Entities relating to compliance with Environmental Law or the environmental conditions at, or the status with respect to any Environmental Law of, any of the Owned Real Property or Leased Real Property, including Phase I and Phase II environmental site assessments, any material tests, surveys or plans concerning asbestos, mold or lead paint, and any Permits required or issued under any Environmental Law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to any Company Entity's Knowledge, no Hazardous Substances have been generated, used, treated, contained, handled or stored on, transported to or from, or Released on, under, in, at, to or from any of the Owned Real Property or Leased Real Property (i) by any Company Entity or (ii) to any Company Entity's Knowledge, by any other party, in each case, in an amount, manner or condition that requires notification, investigation, abatement, remediation or any response action by any Company Entity under any Environmental Laws or Permits required thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) to any Company Entity's Knowledge, no Hazardous Substance has been Released at any offsite location as a result of conducting the Business in an amount, manner or condition that requires notification or any material investigation, abatement, remediation, response action or satisfaction of liability by any Company Entity under any Environmental Laws or Permits required thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) to any Company Entity's Knowledge, no Owned Real Property or Leased Real Property contains in-ground, below or underground storage tanks or containers that presently contain, or previously contained, Hazardous Substances, either in or not in use;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) to any Company Entity's Knowledge, no employee or former employee of the Company Entities or their Affiliates has been exposed to any Hazardous Substance in connection with their employment by the Business and no Person has been exposed to any Hazardous Substance at any location as a result of the conduct of the Business, in each case that has resulted in an Environmental Claim against any Company Entity or in an amount, manner or condition requiring notification or any material investigation, abatement, management, remediation, response action or satisfaction of liability by such Company Entity under any Environmental Laws or Permits required thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) to any Company Entity's Knowledge, no per- or polyfluoroalkyl substance, asbestos, lead paint, or toxic mold are or have been present on any of the Owned Real Property or Leased Real Property in an amount, manner or condition requiring notification or any material investigation, abatement, management, remediation, response action or satisfaction of liability by such Company Entity under any Environmental Laws or Permits required thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) each of the Company Entities has obtained and is in compliance in all material respects with all Permits that are required under any Environmental Law with respect to the Business and all operations of such Company Entity at the Owned Real Property and/or Leased Real Property, all such Permits are currently in full force and effect, there are no Environmental Claims pending, or to any Company Entity's Knowledge threatened, against any Company Entity that threatens the adverse modification, suspension, revocation or non-renewal of any such Permit;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) there is no Environmental Claim pending or, to any Company Entity's Knowledge, threatened against any Company Entity or the Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) neither the execution of this Agreement nor the consummation of the transactions contemplated hereby will trigger or require (i) any notice to be given to or consent to be obtained from any Governmental Authority pursuant to any Environmental Law, except for any notices required for the transfer of Permits held by the Company Entities pursuant to Environmental Laws, as listed on <u>Schedule 3.20</u>, or (ii) any investigation, assessment or other action related to any Hazardous Substance; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) each Company Entity is, and for the past three (3) years, has been, in compliance in all material respects with all Environmental Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.21 <u>Customers</u>. All of the Company Entities' Contracts with customers are on a substantially similar form to that of the Company Entities' standard form customer agreements (other than retail customers), which have been made available to the Buyer. All of the Company Entities' customer deposits or payments are handled and applied in accordance with the applicable contractual terms and in material compliance with Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.22 <u>Subcontractors and Suppliers</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Schedule 3.22(a)</u> sets forth a true, complete and correct list of each Company Entity's subcontractors (the "<u>Subcontractors</u>") and their respective volume of purchases (by dollar value), for each of 2023, 2024 and the first nine (9) months of 2025. Except as set forth on <u>Schedule 3.22(a)</u>, in the two (2) years prior to the date hereof, no Company Entity has received any written indication from any Subcontractor to the effect that, and, to the Knowledge of such Company Entity, a Subcontractor intends to stop or materially reduce or materially change the terms of (whether related to payment, price or otherwise) supplying materials, products or services to such Company Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Schedule 3.22(b)</u> sets forth a true, complete and correct list of the ten (10) largest suppliers of each Company Entity (the "<u>Top Suppliers</u>") by volume of sales and purchases (by dollar value), for each of 2023, 2024 and the first nine (9) months of 2025. Except as set forth on <u>Schedule 3.22(b)</u>, in the two (2) years prior to the date hereof, no Company Entity has received any written indication from any Top Supplier to the effect that such (nor, to the Knowledge of any Company Entity, does any) Top Supplier intends to stop or materially reduce or materially change the terms of (whether related to payment, price or otherwise) supplying materials, products or services to any Company Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.23 <u>Affiliate Transactions</u>. Except as disclosed on <u>Schedule</u> <u>3.23</u>, no officer, director, employee, or Affiliate of the Company Entities or, to the Knowledge of the Company Entities, any individual related by blood, marriage or adoption to any such Person or any entity in which any such Person owns any beneficial interest (collectively, the "<u>Insiders</u>"), is a party to any Contract or transaction with any Company Entity which is pertaining to the Business or any of the Company Entities or has any interest in any Acquired Assets used in or pertaining to the Business or any of the Company Entities (other than Contracts with respect to their service as an officer, director or employee). Except as set forth on <u>Schedule 3.23,</u> no Insider is, directly or indirectly, entitled to any bonus or payment by the Company Entities in connection with the transactions contemplated by this Agreement or for any other reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.24 <u>Inventory</u>. All items included in the inventory of each Company Entity consist of items of a quality usable or saleable in the Ordinary Course of Business, including being non-expired and free from mildew, fungus, rot, spoilage and agricultural neglect (except for an immaterial number of obsolete or damaged items that have been written off or for which adequate reserves have been established in the Financial Statements) and are in quantities sufficient for the normal operation of the Business in accordance with past practice. All of the inventory is owned by the applicable Company Entities free and clear of all Liens (other than Permitted Liens). All of the inventory for sale has been properly tested and marked in accordance with Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25 <u>Brokers</u>. Except as set forth on Schedule 3.25, no agent, broker, investment banker, financial advisor or other Person is or will be entitled to any brokers' or finder's fee or any other commission or similar fee from the Company Entities in connection with the consummation of the transactions contemplated herein.

**<u>Article 4</u>**

**<u>REPRESENTATIONS AND WARRANTIES OF THE COLLATERAL AGENT</u>**

As a material inducement to the Company Entities and the Buyer to enter into this Agreement, the Collateral Agent hereby represents and warrants to the Company Entities and the Buyer that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 <u>Organization and Qualification of Collateral Agent</u>. The Collateral Agent is a limited liability company duly organized, validly existing and in good standing under the Laws of Delaware. The Collateral Agent has the requisite power and authority on behalf of the Senior Noteholders under the Senior Notes Documents to (a) convey the Company Entities' right, title and interest in and to the Transferred Collateral Assets under the UCC and other Applicable Law in accordance with the terms of this Agreement, (b) execute and deliver this Agreement and the other Ancillary Agreements to which it is or will be a party and (c) carry out all of the actions required of it pursuant to the terms of this Agreement and the other Ancillary Agreements to which it is or will be a party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 <u>Approval; Binding Effect</u>. The Collateral Agent has obtained all necessary authorizations and approvals required for the execution and delivery of this Agreement and the other Ancillary Agreements to which it is or will be a party and the consummation of the transactions contemplated hereby and thereby. This Agreement has been duly executed and delivered by the Collateral Agent and constitutes the legal, valid and binding obligation of the Collateral Agent, enforceable against the Collateral Agent in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or affecting creditors generally and by general equitable principles (regardless of whether such enforceability is considered in a proceeding in equity or at law). All approvals of the Collateral Agent, if any, required to consummate the transactions provided for in this Agreement and the other Ancillary Agreements to which it is or will be a party will have been obtained prior to the Closing. The Collateral Agent has the absolute and unrestricted right, power, authority and capacity to sell, on behalf of the Senior Noteholders, the Company Entities' right, title and interest in and to the Transferred Collateral Assets and to enter into this Agreement and the other Ancillary Agreements to which it is or will be a party. Neither the execution and delivery by the Collateral Agent of this Agreement or the other Ancillary Agreements to which it is or will be a party nor the consummation of the transactions contemplated hereby or thereby will (a) violate or conflict with any provision of the articles of incorporation, by-laws, operating agreement or any other organizational documents of the Collateral Agent or (b) violate or conflict with any provision of any law. The execution of this Agreement and the other Ancillary Agreements to which it is or will be a party and the consummation of the transactions contemplated hereby and thereby are within the authority of the individual who shall execute this Agreement on behalf of the Collateral Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 <u>Security Interest</u>. The Collateral Agent, for the benefit of itself and the Senior Noteholders, has a valid, properly perfected and enforceable Lien on all of the Transferred Collateral Assets to be sold hereunder by the Collateral Agent, to the extent such Lien can be perfected by the proper filing of a UCC financing statement with the applicable filing office specified in the UCC, with priority over all Liens thereon other than any Permitted Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 <u>Transfer of Interest</u>. The Collateral Agent has not heretofore sold, assigned, transferred or subordinated (other than with respect to certain of the Permitted Liens pursuant to applicable Law) any of its Liens in the Transferred Collateral Assets being purchased hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 <u>Valid Obligations</u>. All of the obligations of the Company Entities to the Collateral Agent and the Senior Noteholders under the Senior Notes Documents are valid, binding and enforceable, and the Company is in default of such obligations in a manner that vests in the Collateral Agent the right to convey, subject to the terms and conditions of this Agreement and the other Ancillary Agreements, all of the Company Entities' right, title and interest in and to the Acquired Assets to Buyer pursuant to Section 9-617(a) of the UCC. As of November 13, 2025, the aggregate amount of the outstanding obligations under the Senior Notes is at least $111,111,593.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 <u>Liens</u>. The Collateral Agent, on behalf of itself and the Senior Noteholders, hereby agrees and acknowledges that after the consummation of the transactions contemplated by this Agreement and the other Ancillary Agreements, except as contemplated by the RSA in respect of the New Money Financings, the Collateral Agent shall not hold any Lien in or to any of the Acquired Assets being transferred to Buyer pursuant hereto or thereto and shall take all reasonable steps and execute and deliver all documents necessary or appropriate to release or otherwise extinguish such Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7 <u>Compliance with the UCC</u>. The sale by the Collateral Agent (on behalf of itself and the Senior Noteholders) of the Company Entities' right, title and interest in and to the Transferred Collateral Assets contemplated hereby shall be conducted and consummated by the Collateral Agent as a public sale pursuant to and in accordance with Sections 9-610 through 9-619 and 9-623 through 9-628 of the UCC and all other applicable Laws. To the extent not waived by such parties in writing to the satisfaction of the Collateral Agent and Buyer, the Collateral Agent, on behalf of itself and the Senior Noteholders, has, not less than ten (10) days prior to the date of this Agreement, sent notices with respect to the sale pursuant to Article 9 of the UCC contemplated hereby to (a) any secondary obligor (as defined in the UCC), (b) any Person from whom the Collateral Agent has received before the notification date (as defined in Section 9-611(a) of the UCC) and authentication notification of a claim of an interest in Acquired Assets and (c) any secured party or lienholder pursuant to Sections 9-611(c)(3)(B) (by compliance with Sections 9-611(e)) and 9-611(c)(3)(C) of the UCC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8 <u>Brokers</u>. No agent, broker, investment banker, financial advisor or other Person is or will be entitled to any brokers' or finder's fee or any other commission or similar fee from the Collateral Agent in connection with the consummation of the transactions contemplated herein.

**<u>Article 5</u>**

**<u>REPRESENTATIONS AND WARRANTIES OF THE BUYER</u>**

As a material inducement to the Company Entities to enter into this Agreement, the Buyer hereby represents and warrants to the Company Entities that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 <u>Organization and Power</u>. The Buyer is duly organized, validly existing and in good standing under the laws of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 <u>Authorization of Transactions</u>. The Buyer has full limited liability power and authority to execute and deliver this Agreement and each of the Ancillary Agreements to which it is or will be a party and to consummate the transactions contemplated hereby and thereby. The Buyer has duly authorized the execution and delivery of this Agreement and all Ancillary Agreements to which it is or will be a party and the consummation of the transactions contemplated hereby and thereby. No other corporate proceedings on the part of the Buyer are necessary to approve and authorize the execution and delivery of this Agreement or the Ancillary Agreements to which it is or will be a party and the consummation of the transactions contemplated hereby and thereby. This Agreement and all Ancillary Agreements to which the Buyer is or will be a party have been (or will be) duly executed and delivered by the Buyer and, assuming the valid execution and delivery by the other parties thereto, constitute (or will constitute) the valid and binding agreements of the Buyer, enforceable against the Buyer in accordance with their terms, subject to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors' rights and to general principles of equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 <u>Non-Contravention</u>. The execution, delivery and performance by the Buyer of this Agreement and all agreements, documents and instruments executed and delivered by it pursuant hereto and the performance of the transactions contemplated by this Agreement and such other agreements, documents and instruments do not and will not: (i) materially violate or result in a material violation of, materially conflict with or constitute or result in a material default (whether after the giving of notice, lapse of time or both) under, accelerate any obligation under, or give rise to a right of termination of, any contract, agreement, obligation, Permit, license or authorization to which the Buyer is a party or by which its assets are bound; (ii) materially violate or result in a material violation of, materially conflict with or constitute or result in a material default (whether after the giving of notice, lapse of time or both) under, or accelerate any obligation under, any provision of the Buyer's organizational documents; (iii) materially violate or result in a material violation of, or constitute a material default (whether after the giving of notice, lapse of time or both) under, any provision of any law, regulation or rule, or any order of, or any restriction imposed by, any court or governmental agency applicable to the Buyer; or (iv) require from the Buyer any notice to, declaration or filing with, or consent or approval of, any governmental authority or other third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4 <u>Litigation</u>. There are no actions, suits, proceedings or orders pending or, to the Buyer's knowledge, threatened against or affecting the Buyer at law or in equity, or before or by any federal, state, municipal or other governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, which would adversely affect the performance of the Buyer under this Agreement and the Ancillary Agreements or the consummation of the transactions contemplated hereby or thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5 <u>Brokers</u>. No agent, broker, investment banker, financial advisor or other Person is or will be entitled to any brokers' or finder's fee or any other commission or similar fee from Buyer in connection with the consummation of the transactions contemplated herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6 <u>Independent Investigation; Non-Reliance</u>. In connection with its investment decision, Buyer or its representatives have inspected and conducted such reasonable independent review, investigation and analysis (financial and otherwise) of the Company Entities as desired by Buyer. The purchase of the Acquired Assets by Buyer and the consummation of the transactions contemplated hereby by Buyer are not done in reliance upon any representation or warranty by, or information from the Company Entities or any of their Affiliates, employees or representatives, whether oral or written, express or implied, including any implied warranty of merchantability or of fitness for a particular purpose, except for the representations and warranties specifically and expressly set forth in <u>Article 3</u> (as modified by the Disclosure Schedules) and <u>Article 4</u>, the certificates delivered under this Agreement, any other closing document or any conveyance document, and Buyer acknowledges that the Company Entities expressly disclaim any other representations and warranties.

**<u>Article 6</u>**

**<u>ADDITIONAL AGREEMENTS</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 <u>Pre-Closing Covenants.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Conduct of the Business</u>. Except (i) as set forth on <u>Schedule 6.1(a)</u>, (ii) as required by any law or order or Contract, (iii) as permitted, required or contemplated by this Agreement, (iv) with the prior written consent of Buyer, during the period from the date of this Agreement to the earlier of (a) the Closing or (b) the date on which this Agreement is terminated in accordance with this Agreement (the "<u>Interim Period</u>"), each Company Entity shall conduct the Business in the Ordinary Course in all material respects and in material compliance with all Applicable Laws. During the Interim Period, each Company Entity will keep the Business and its assets and properties, including each Company Entity's present operations, physical facilities, licensees, working conditions, insurance policies, goodwill and relationships with lessors, licensors, suppliers, customers, employees and other business relations substantially intact, open and operational. Without limiting the generality of the foregoing, during the Interim Period, each Company Entity will not, without the prior written consent of the Buyer, take any of the following actions, in each case with respect to the Business, the Acquired Assets or the Assumed Liabilities, as applicable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) amend, extend or terminate any Seller Contract or enter into any Contract, which if entered into prior to the date hereof, would be a Seller Contract (other than a termination of a Seller Contract as a result of the expiration of the term of such Seller Contract);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) incur any Liability (including further Indebtedness) in excess of $75,000, other than in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) dispose of or encumber any Acquired Assets other than sales of inventory or disposal of obsolete equipment in the Ordinary Course of Business (or transfer any asset that would otherwise be an Acquired Asset to any Company Non-Seller);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) modify, extend, terminate, or enter into any Labor Agreement or recognize or certify any Employee Representative Body as the bargaining representative for any Business Employee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) implement or announce any employee layoff, furlough, reduction in force, plant closing, reduction in compensation, or other similar action that triggers or could trigger notice obligations under the WARN Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) increase any compensation or benefits of any Business Employee or Business Contingent Worker, other than annual increases made in the Ordinary Course of Business with respect to any Person whose annual compensation opportunities are less than $100,000, or establish adopt, amend or terminate any Employee Benefit Plan or compensation plan, policy, program, contract, agreement, or arrangement that would be an Employee Benefit Plan if in effect on the date hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) hire, promote, retain, engage or terminate any Business Employee or Business Contingent Worker, other than in the Ordinary Course of Business with respect to any Person whose annualized compensation opportunities are less than $100,000, or transfer the employment or service relationship of any Business Employee or Business Contingent Worker from the Company Entities to any other Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) license to any Person any Owned IP (other than non-exclusive licenses granted in the Ordinary Course of Business);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) commence or settle any Proceeding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) apply for, terminate or amend any Seller License, other than in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) declare, set aside, or pay any cash or non-cash dividend;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) amend, modify, waive, supplement or restate any organizational documents of any Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) increase or decrease the size of any board of directors or managers of any Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) authorize or approve any material change in the nature of the Business of any Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) authorize or issue any new equity securities of any Company Entity (including options, warrants, convertible securities, or other rights to acquire equity);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16) dissolve, wind up or liquidate any Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17) make any change to existing accounting principles, practices, methods or policies of any Company Entity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18) (i) make or change any Tax election, (ii) change any Tax accounting period, (iii) adopt or change any method of Tax accounting, (iv) file any amended Tax Return, (v) enter into any closing agreement with respect to Taxes, (vi) settle any Tax claim or assessment, (vii) surrender any right to claim a Tax refund, or (viii) consent to any extension or waiver of the limitations period applicable to any Tax claim or assessment.

Nothing contained in this Agreement shall be deemed to give Buyer, directly or indirectly, the right to control or direct the business or any operations of the Company Entities prior to the Closing. Prior to the Closing, the Company Entities shall exercise, consistent with the terms and conditions of this Agreement, complete control and supervision over their respective operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Preservation of Inventory</u>. During the Interim Period, the Company Entities will use their reasonable best efforts to maintain and preserve all inventory associated with the Business in a good and saleable condition, including being non-expired, properly labeled and free from mildew, fungus, rot, spoilage and agricultural neglect. During the Interim Period, each Company Entity will maintain at least substantially similar levels of inventory of flower, trim, concentrate and edibles at each Business location as each Company Entity has maintained over the twelve (12) month period prior to the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Real Estate Covenants</u>. During the Interim Period, the Company Entities shall use best efforts to, and shall cause the Subsidiaries of each Company Entity to, assist Buyer in obtaining the following items for each Owned Real Property:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) a commitment for an ALTA Owner's Title Insurance Policy 2021 Form (or other form of policy reasonably acceptable to Buyer), issued by a title insurance company reasonably satisfactory to Buyer (the "<u>Title Company</u>"), together with a copy of all documents referenced therein (the "<u>Title Commitments</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) an ALTA survey, dated no earlier than the date of this Agreement, prepared by a licensed surveyor reasonably satisfactory to Buyer, and conforming to 2021 Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys, including Table A Items Nos. 2, 3, 4, 6(a), 6(b), 7(a), 7(b)(l), 7(c), 8, 9, 13, 14, 16, 17 and 20 ($1,000,000) and such other standards as the Title Company and Buyer require as a condition to the removal of any survey exceptions from the Title Policies (defined below), and certified to Buyer, Buyer's lender and the Title Company, in a form and substance satisfactory to each of such parties (the "<u>Surveys</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) a zoning report, dated no earlier than the date of this Agreement and prepared by a company reasonably satisfactory to Buyer, in form and substance satisfactory to Buyer and the Title Company (the "<u>Zoning Reports</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) a title insurance policy in accordance with the Title Commitment, insuring the applicable Company Entity's fee simple title to each Owned Real Property as of the Closing Date (including all recorded appurtenant easements insured as separate legal parcels) with extended coverage and gap coverage from the applicable Company Entities through the date of recording, subject only to Post-Closing Permitted Liens, in such amount as Buyer reasonably determines to be the value of the Owned Real Property insured thereunder, including all endorsements reasonably requested by Buyer, in form and substance reasonably satisfactory to Buyer (the "<u>Title Policies</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) [Reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) a property condition report, dated no earlier than the date of this Agreement and prepared by a company satisfactory to Buyer, in form and substance satisfactory to Buyer (the "<u>Property Condition Reports</u>"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) an appraisal, dated no earlier than the date of this Agreement and prepared by a company satisfactory to Buyer, in form and substance satisfactory to Buyer (the "<u>Appraisals</u>").

The Title Commitments, Surveys, Zoning Reports, Title Policies, Property Condition Reports, Appraisals, and all affidavits, indemnities, and other agreements or assurances required by the Title Company to issue the Title Policies shall be collectively referred to herein as the "<u>Owned Real Property Deliverables</u>". The Company Entities shall pay all fees, costs and expenses with respect to the Owned Real Property Deliverables and with respect to closing costs (such as escrow and recording fees) in relation to the transfer of the Owned Real Property. At or prior to Closing, the Company Entities shall remove or cause to be removed from each Owned Real Property's title any Liens which are not Post-Closing Permitted Liens, at no cost to Buyer. The applicable Company Entity shall provide the Title Company with an owner's affidavit, GAP indemnity, and any other affidavit, indemnity or other assurance requested by the Title Company to issue the Title Policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Appropriate Actions</u>. Each of the Parties shall use reasonable best efforts to take all action necessary to consummate the transactions contemplated by this Agreement as soon as possible after the execution of this Agreement, including taking all actions necessary to comply promptly with all Applicable Laws that may be imposed on it or any of its Affiliates with respect to the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Notices and Consents</u>. Each of the Parties shall use reasonable best efforts to obtain, as soon as possible after the execution of this Agreement, any and all consents, approvals and authorizations set forth on <u>Schedule 6.1(e)</u>, including the Requisite Regulatory Approvals, and each Party shall cooperate with the other Parties to this Agreement in obtaining all such consents, approvals and authorizations set forth on <u>Schedule 6.1(e)</u>, including the Requisite Regulatory Approvals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Further Assurances</u>. If any further action is necessary or desirable to carry out the purposes of this Agreement, each Party, upon request of the other Party and from time to time, will take such further action (including the execution and delivery of such further instruments and documents) as the other Party reasonably may request and deem necessary or desirable to consummate the transactions contemplated by this Agreement, all at the sole cost and expense of the requesting Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 <u>Access to Information; Cooperation; Further Assurances</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) From and after the Closing and through the earlier of (i) the third (3<sup>rd</sup>) anniversary of the date thereof and (ii) the completion of the Liquidation Proceedings, the Company Entities shall maintain the following books and records of the Company Entities dating from January 1, 2023 (and any such books and records in the Company Entities' possession that precede such date) through the Closing and provide access thereto and/or copies thereof as reasonably requested by the Buyer: (a) general records and journals; (b) historical income statements, balance sheets and statements of cash flows; (c) business, accounting and financial records; (d) personnel records and employment data; provided that the applicable Company Entity is not required to provide access to any such personnel records and employment data, except (1) as allowed under Applicable Law or (2) if prohibited by Applicable Law, with such employee's consent; (e) any material correspondence to, with or from any Person in connection with the Business; (f) all telephone and facsimile numbers and internet access (including email) accounts and (g) all information relating to Taxes (to the extent relating solely to Taxes paid by or on behalf of any Company Entity or relating to any Acquired Asset). In connection with any Liquidation Proceeding, the Company Entities shall transfer or make available all books and records to any liquidator, assignee, or other third party responsible for administering the Liquidation Proceeding, who shall thereafter maintain such books and records and provide access to the Buyer in accordance with this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Further Assurances of Buyer</u>. Following the Closing, the Buyer shall, at the request and reasonable expense of the Collateral Agent, execute, acknowledge, deliver, file and/or record such additional instruments, documents and filings, and take such further actions, as the Collateral Agent may reasonably request (i) to evidence the discharge and release of the Collateral Agent's Liens on the Collateral Assets pursuant to § 9-617 of the UCC, (ii) to effectuate, confirm or evidence the transfer of the Collateral Assets to the Buyer, and (iii) to enable the Collateral Agent to comply with any Applicable Law in connection with the consummation of the UCC sale.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Further Assurances of Company Sellers</u>. Each Company Seller shall, without further consideration, and (i) at the written direction of the Collateral Agent solely with respect to the Collateral Assets, or (ii) otherwise at the written direction of the Buyer in accordance with this Agreement, execute and deliver such bills of sale, assignments, endorsements, deeds, and other instruments of transfer and conveyance, and take such further actions as may be reasonably requested to (a) effectuate or confirm the transfer of any Acquired Assets, (b) cure any defect of title or evidence of ownership relating thereto, and (c) otherwise carry out the intent of this Agreement; provided that no Company Seller shall be required to incur any unreimbursed out-of-pocket expense, assume any additional Liability, or provide any representation, warranty, or covenant other than those expressly set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 <u>Refunds and Remittances; Insurance Claims</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) After the Closing, if any Company Entity receives any refund or other amount which is attributable to an Acquired Asset or is otherwise properly due and owing to the Buyer in accordance with the terms of this Agreement (which for the avoidance of doubt shall include any payment received from any customer or any Person who provides financing to any customer), such Company Entity shall hold all such funds in trust for the Buyer and shall promptly remit, or shall cause to be remitted, such amount to the Buyer within five (5) Business Days of receipt of such funds. Payments remitted to the Buyer pursuant to this <u>Section 6.3(a)</u> shall be in the form received by such Company Entity or any of its Affiliates. After the Closing, if the Buyer receives any refund or other amount which is attributable to an Excluded Asset or is otherwise properly due and owing to the applicable Company Entity in accordance with the terms of this Agreement, the Buyer shall promptly remit, or shall cause to be remitted, such amount to the applicable Company Entity. Payments remitted to such Company Entity pursuant to this <u>Section 6.3(a)</u> shall be in the form received by the Buyer or any of its Affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) From and after the Closing Date, Buyer and its Affiliates shall be entitled to cause the Company or its Affiliates to, and the Company and its Affiliates shall, access, make claims on, or claim benefits from or under, any of the Company's and its Affiliates' current insurance policies, programs and arrangements with respect to any claim, basis for claim, act, omission, event, circumstance, occurrence or loss that occurred or existed prior to the Closing Date that relates to or is an Assumed Liability (and then only to the extent that such claim, basis for claim, act, omission, event, circumstance, occurrence or loss occurred or existed on or prior to the Closing Date), subject in each case to the terms and conditions of the applicable insurance policies. Buyer shall pay or reimburse the Company for any out-of-pocket expenses in connection with the Company's compliance with this <u>Section 6.3(c)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 <u>Confidentiality</u>. Following the Closing, each applicable Selling Party agrees to, and shall cause its respective agents, representatives, Affiliates, employees, officers and directors to, treat and hold as confidential all confidential documents and information relating to the Business and the affairs of the Company Entities to the extent related to the Acquired Assets or Assumed Liabilities, including any notes, analyses, compilations, studies, forecasts, interpretations or other documents that are derived from, contain, reflect or are based upon any such information (the "<u>Confidential Information</u>") and refrain from using any Confidential Information except in connection with this Agreement, and deliver promptly to the Buyer, at the Buyer's request, all Confidential Information (and all copies thereof in whatever form or medium) in its possession or under its control. Notwithstanding the foregoing, Confidential Information shall not include information that, at the time of disclosure, is available publicly and was not disclosed in breach of this Agreement. In the event that any Selling Party or any of its respective agents, representatives, Affiliates, employees, officers or directors becomes legally compelled to disclose any Confidential Information, such Person shall provide the Buyer with prompt written notice of such requirement so that the Buyer may seek a protective order or other remedy or waive compliance with the provisions of this <u>Section</u> <u>6.4</u>. In the event that a protective order or other remedy is not obtained or if the Buyer waives compliance with this <u>Section 6.4</u>, such Person shall furnish only that portion of such Confidential Information that is legally required to be provided and exercise its reasonable best efforts to obtain assurances that confidential treatment will be accorded such information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 <u>Tax Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Transfer Taxes</u>. Any transfer, documentary, sales, use, value added, excise, stock transfer, stamp, recording, registration and any similar Taxes, including any penalties and interest thereon, that become payable in connection with the purchase and sale of the Acquired Assets contemplated by this Agreement ("<u>Transfer Taxes</u>") shall be paid out of the Wind Down Budget. For the avoidance of doubt, "Transfer Taxes" shall not include any income Taxes. The party required by Applicable Law to file the applicable Transfer Tax return shall timely do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Apportioned Taxes</u>. In any case under this Agreement involving a Tax period that includes (but does not end on) the Closing Date (a "<u>Straddle Period</u>"), (i) all real property Taxes, personal property Taxes and similar ad valorem obligations levied with respect to the Acquired Assets ("<u>Property Taxes</u>") for the Pre-Closing Tax Period shall be equal to the amount of such Property Taxes for the entire Straddle Period multiplied by a fraction, the numerator of which is the number of days during the Straddle Period that are in the portion of the Straddle Period on the Closing Date and the denominator of which is the number of days in the Straddle Period; and (ii) Taxes (other than Property Taxes) shall be computed as if such taxable period ended on the end of the Closing Date (and for such purposes, the taxable period of any partnership or other pass-through entity, or any non-U.S. entity in which such Person holds a beneficial interest, directly or indirectly, shall be deemed to terminate at such time) based on an interim closing of the books. Except as otherwise provided under this Agreement, the Company Entities shall be liable for the amount of such Taxes attributable to the Pre-Closing Tax Period, and the Buyer shall be liable for the amount of such Taxes (other than Excluded Taxes) attributable to the Post-Closing Tax Period, as allocated pursuant to the preceding sentence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Intended Tax Treatment</u>. The Parties agree that the transfer of the sale of the Acquired Assets to the Buyer is intended to be treated as a taxable acquisition of assets and the Parties shall prepare and file all relevant U.S. federal, state, and local, income tax returns consistent with such intended treatment absent a contrary "determination" (within the meaning of Section 1313(a) of the Code).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Cooperation on Tax Matters</u>. The Parties shall cooperate fully, as and to the extent reasonably requested by any other Party, in connection with the filing of Tax Returns, and any audit, litigation or other proceeding with respect to Taxes relating to the Acquired Assets. Such cooperation shall include the retention and (upon the other Party's reasonable request) the provision of records and information which are reasonably relevant to any such audit, litigation or other proceeding concerning an amount of Taxes related to the Acquired Assets and making employees available on a mutually convenient basis to provide additional information and explanation of any material provided hereunder. Each Party shall provide to the others, within ten (10) Business Days of the receipt thereof, any tax related communications and notices it receives which may impact the other Party's Tax Liability or filing responsibilities associated with the Acquired Assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Bulk Sale</u>. The Parties hereby agree to reasonably cooperate to satisfy the requirements of bulk sales laws with respect to the transactions contemplated by this Agreement. Tax clearance certificates or other receipt evidencing payment of taxes due may be obtained after the Closing; provided that Selling Parties, in the event the certificate or receipt is obtained after the Closing, from and after the Closing, will cooperate with Buyer and take all actions necessary, and pay all payments, fines, taxes, or assessments, in each case that are required to obtain such certificates in form and substance reasonably acceptable to Buyer. The Selling Parties acknowledge and agree that the covenants and agreements set forth in this <u>Section 6.5(e)</u> are to be performed after Closing, and will survive the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>[Reserved]</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Purchase Price Allocation for Tax Purposes</u>. Within ninety (90) days after the Closing, the Buyer shall prepare the Allocation Schedule which shall be deemed final and shall be binding upon the Parties. Except as otherwise required by a "determination" within the meaning of Section 1313(a) of the Code, the Parties shall file all Tax Returns (including amended returns and claims for refunds) and cooperate in the filing of any information reports (including Internal Revenue Service Form 8594) consistent with this <u>Section 6.5(g)</u> and the allocations set forth on such Allocation Schedule and shall not take any position for applicable Tax purposes inconsistent therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6 <u>Employee and Related Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Prior to the Closing, the Buyer will, or will cause one of its Affiliates to, make an offer of at-will employment or engagement, respectively, on terms that the Buyer and its Affiliates determine in their sole discretion, to each Business Employee (each, an "<u>Offer Employee</u>") and each Business Contingent Worker (each, an "<u>Offer Contingent Worker</u>"), as determined by the Buyer in its sole discretion, each such offer to be effective, and subject to the occurrence of, the Closing (respectively, an "<u>Employment Offer</u>" or an "<u>Engagement Offer</u>," and each, an "<u>Offer</u>"). Each Offer must provide, as a condition to accepting employment or engagement, respectively, with the Buyer or such Affiliate, that the Offer Employee or Offer Contingent Worker, respectively, resign from employment or service with the applicable service recipient as of immediately prior to the Closing. Each Offer Employee and Offer Contingent Worker who accepts an Offer is referred to herein as a "<u>Transferred Service Provider</u>." The Company Entities hereby consent to the hiring by the Buyer or any of its Affiliates of each Transferred Service Provider and agree not to enforce any non-competition or similar covenant that could, but for this provision, prevent such Transferred Service Provider from fulfilling the terms and conditions of his, her, or its services to the Business following the Closing. The Company Entities will make the Business Employees and Business Contingent Workers reasonably available to the Buyer or its Affiliates for purposes of determining which such individuals will receive Offers and will otherwise provide reasonable cooperation in Buyer's evaluation of and communication with such individuals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the Buyer determines that it is impractical or illegal for a Business Employee or Business Contingent Worker who would have been a Transferred Service Provider to be a Transferred Service Provider at the Closing (a "<u>Delayed Transfer Service Provider</u>"), such Delayed Transfer Service Provider will remain employed or engaged by the applicable pre-Closing service recipient until the date on which the Buyer determines that such delay is no longer necessary, and during such period such Delayed Transfer Service Provider will provide services to the Buyer and its Affiliates pursuant to the terms and conditions of an Employee Leasing Agreement to be entered into prior to the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) For the avoidance of doubt, and without limiting the generality of <u>Section 2.2(c)(2)</u>, the Company Entities will retain and bear all Employee Liabilities and the Buyer and its Affiliates will not assume or otherwise incur any obligation with respect to any Employee Liabilities, including, without limitation any Liabilities or obligations with respect to any Employee Benefit Plan or any obligation to provide coverage under COBRA or Sections 601 through 608 of ERISA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The provisions of this <u>Section 6.6</u> are solely for the benefit of the Parties, and no provision of this <u>Section 6.6</u> will create any third-party beneficiary or other rights in any current or former Business Employee or Business Contingent Worker or any Transferred Service Provider (including any dependent or beneficiary thereof) in respect of the terms and conditions of employment or engagement with, or any benefits that may be provided by, the Buyer or any of its Affiliates. Nothing herein will be construed as an amendment to any Employee Benefit Plan for any purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7 <u>Certain Financial Statements</u>. The Company shall use reasonable best efforts to prepare in accordance with GAAP and deliver to Buyer and the Required Consenting Senior Noteholder, as soon as practicable, but in no event later than December 15, 2025, (i) an audited consolidated balance sheet, income statement, statement of cash flows, and stockholders' equity statement of the Company as of and for the period ended December 31, 2024, in each case, together with the notes and schedules thereto, (ii) an unaudited consolidated balance sheet, income statement, statement of cash flows, and stockholders' equity statement of the Company as of and for the nine months ended September 30, 2025 and September 30, 2024, in each case, together with the notes and schedules thereto, if and as applicable, and (iii) an unaudited consolidated income statement and stockholders' equity statement of the Company for the three months ended September 30, 2025 and September 30, 2024 in each case, together with the notes and schedules thereto, if and as applicable. The Company Entities agree, in connection with the preparation of any financial statements described above, after execution by Buyer and the Required Consenting Senior Noteholder of such reasonable acknowledgment or non-reliance letters as the Company's auditors may reasonably request, to permit access to the work papers related to the preparation of such financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8 <u>Intellectual Property License</u>. Upon Closing, and subject to the terms and conditions set forth herein, Buyer grants to Company a limited, non-exclusive, royalty-free, non-transferable, non-assignable, non-sublicensable license (the "<u>License</u>") to use the specific Intellectual Property listed hereto on Schedule 6.8 (the "<u>Licensed IP</u>") solely for the limited purpose of conducting activities necessary to wind-down the business of the Company in connection with the Liquidation Proceedings. The License shall terminate automatically without prior notice or legal action upon the earlier of (i) the completion of the Liquidation Proceedings, or (ii) one year following the Closing Date. During the term of the License, Buyer retains the right to inspect the Company's use of the Licensed IP to ensure compliance with the terms and conditions set forth herein. Upon expiration of the License, Company will cease any and all use of the Licensed IP and shall return to Buyer or destroy any materials that use or practice the Intellectual Property. The Company shall indemnify Buyer from any and all third-party claims arising from the Company's use of the Intellectual Property during the term of the License.

**<u>Article 7</u>**

**<u>CONDITIONS TO CLOSING</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 <u>Buyer's Closing Conditions and Deliverables of the Selling Parties</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The following are conditions precedent to the Buyer's obligations to effect the Closing hereunder (any of which may be waived in writing by Buyer, to the extent permitted by Applicable Law): (i) no federal or state court of competent jurisdiction or other Governmental Authority shall have enacted any Applicable Law or issued, promulgated, enforced or entered any order, decree, judgment, injunction or other ruling (whether temporary, preliminary or permanent), in any case which is in effect and which prevents or prohibits consummation of the transactions contemplated by this Agreement and the Ancillary Agreements; (ii) Buyer shall have received all Owned Real Property Deliverables in form and substance acceptable to Buyer; (iii) the Title Company shall be committed to issue each Title Policy insuring that fee simple title to the applicable Owned Real Property is vested in Buyer (or its designee) as of the Closing Date; (iv) the RSA shall not have been terminated and shall be in full force and effect and no termination event, default or event of default arising thereunder shall have occurred; (v) the New Money Financings shall have closed or are closing substantially simultaneously with the Closing (and all Transaction Expenses (as defined in the RSA) shall be paid substantially simultaneously with the Closing); (vi) the Consulting Agreement shall have been executed and delivered by the Consulting Party; (vii) the Consulting Party Financing Opportunity shall have been conducted and, if elected by the Consulting Party, consummated and funded in accordance with the RSA; (viii) all New First Lien Debt Documents shall have been executed by the applicable parties thereto and delivered, all conditions to the consummation of the transactions contemplated thereunder shall have been satisfied or waived, and all New First Lien Debt Documents shall each be in full force and effect and the New First Lien Debt shall have been issued; (ix) the Star Buds Lessor Parties shall have consented in writing to the assignment of the Star Buds Leases to Buyer, which Star Buds Leases shall be amended on the terms of the Star Buds Term Sheet and Star Brands LLC shall have consented in writing to the assignment of the TLA; (x) the representations and warranties of such Company Entity set forth in <u>Article 3</u> and the representations and warranties of the Collateral Agent set forth in <u>Article 4</u> are true and correct in all material respects as of the Closing Date; (xi) each Company Entity and the Collateral Agent shall have performed in all material respects all of the covenants and agreements required to be performed by it under this Agreement prior to or at the Closing; (xii) the amended and restated limited liability company agreement of the Buyer shall be in effect (or take effect substantially simultaneously with the Closing); and (xiii) Buyer shall have received the items set forth <u>Section 7.1(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At the Closing, the applicable Company Entity or the Collateral Agent shall deliver or cause to be delivered to the Buyer each of the following, each executed, acknowledged and notarized, as applicable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) executed counterparts of each Ancillary Agreement to which any Company Entity is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) each Company Entity and the Collateral Agent shall deliver a certificate executed by an authorized officer of each applicable Company Entity or the Collateral Agent certifying that the representations and warranties of such Company Entity set forth in <u>Article 3</u> and the representations and warranties of the Collateral Agent set forth in <u>Article 4</u> are true and correct in all material respects as of the Closing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) each Company Entity and the Collateral Agent shall deliver a certificate executed by an authorized officer of each applicable Company Entity and the Collateral Agent certifying each Company Entity and the Collateral Agent shall have performed in all material respects all of the covenants and agreements required to be performed by it under this Agreement prior to or at the Closing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) copies of all applicable consents set forth on <u>Schedule 6.1(e)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) a certificate of the Secretary of State of the applicable State stating that such Company Seller is in good standing, dated as of a date not earlier than ten (10) Business Days prior to the Closing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) a copy, as applicable, of (x) the certificate of formation (or similar organizational documents), as amended, of the applicable Company Seller certified by the Secretary of State of the applicable State, dated as of a date not earlier than ten (10) Business Days prior to the Closing and accompanied by a certificate of the Secretary of the applicable Company Seller, dated as of the Closing, stating that no amendments have been made to such organizational documents since such date, (y) the operating agreement (or similar organizational documents) of the applicable Company Seller, certified by the Secretary of the applicable Company Seller, and (z) the resolutions of the applicable Company Seller's board of managers or directors (or similar governing body) and the equityholders or members necessary to authorize the execution, delivery and performance of this Agreement and the Ancillary Agreements and approving the consummation of the transactions contemplated hereby and thereby, in each case, certified by a Secretary of such Company Seller;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) a special warranty deed for each Owned Real Property transferring fee simple ownership of the Owned Real Property to Buyer (or its designee), in form and substance acceptable to Buyer, in each case subject only to Post-Closing Permitted Liens;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) all maintenance records and operating manuals pertaining to each Owned Real Property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) all keys, combinations and security codes for all locks and security devices for each Owned Real Property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) notices to those entities providing services to each Owned Real Property, including utility companies, which Buyer desires to retain, in form and substance reasonably acceptable to Buyer, and an assignment and assumption of such service contracts for each Owned Real Property, in form and substance acceptable to Buyer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) a FIRPTA certificate from each applicable Company Seller of each Owned Real Property, in form and substance acceptable to Buyer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) such evidence or documents as may reasonably be required by Buyer or the Title Company evidencing the status and capacity of the applicable Company Seller and the authority of the applicable Company Seller and the person or persons who are executing the various documents on behalf of such Company Seller in connection with the transfer of each Owned Real Property in accordance with the terms of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) all transfer and other Tax declarations for each Owned Real Property as may be required by Applicable Law in connection with the transactions contemplated by this Agreement, duly executed and sworn to by the applicable Company Seller;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) copies of any certificates of occupancy pertaining to each Owned Real Property, if any;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) copies of all Permits for each Owned Real Property, if any;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16) estoppels in customary form from the landlord under each Material Lease, dated no earlier than the date that is thirty (30) days prior to the Closing Date, indicating that the applicable Lease is in full force and effect and free from any breach or default on the part of the tenant thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17) certificates of title to each vehicle included as an Acquired Asset;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18) assignments and assumptions of Material Leases and landlord consents ("<u>Lease Assignments</u>") applicable to such Company Seller for each Material Lease in substantially the form attached hereto as <u>Exhibit B</u> (or as otherwise reasonably acceptable to the Buyer), executed by each lessor, lessee or other contract party under any lease, license, sublease or similar occupancy agreement governing any parcel of Leased Real Property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19) Bill of Sale, duly executed by each applicable Company Seller, in the form attached hereto as <u>Exhibit A</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20) Intellectual Property Assignments, duly executed by each applicable Company Seller, in the form attached hereto as <u>Exhibit C</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21) the executive employment agreements entered into between Buyer or its designated Affiliate and each of the individuals set forth on <u>Schedule 7.1(b)</u> (collectively, the "<u>Executive Employment Agreements</u>"), duly executed by each such Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22) if applicable, the Employee Leasing Agreement, duly executed by each applicable Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23) IRS Form W-9;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24) evidence from the Collateral Agent of the release of (i) all Liens on the Transferred Collateral Assets transferred pursuant to this Agreement in accordance with Section 9-617 of the UCC, and (ii) all Liens on any Non-Transferred Collateral Assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25) evidence from the Company of the release of all Liens (other than Post-Closing Permitted Liens) on the Non-Collateral Transferred Assets; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26) such other documents or instruments as the Buyer may reasonably request to effect the transactions contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 <u>Seller Parties' Closing Conditions and Deliverables of the Buyer</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The following are conditions precedent to the applicable Selling Parties' obligations to effect the Closing hereunder (any of which may be waived in writing by the Selling Parties, to the extent permitted by Applicable Law), (i) no federal or state court of competent jurisdiction or other Governmental Authority shall have enacted any Applicable Law or issued, promulgated, enforced or entered any order, decree, judgment, injunction or other ruling (whether temporary, preliminary or permanent), in any case which is in effect and which prevents or prohibits consummation of the transactions contemplated by this Agreement and the Ancillary Agreements, (ii) the representations and warranties of Buyer set forth in <u>Article 5</u> are true and correct in all material respects as of the Closing Date, except to the extent such failure to be so true and correct would not prevent the ability of Buyer to effect the Closing hereunder, (iii) Buyer shall have performed in all material respects all of the covenants and agreements required to be performed by it under this Agreement prior to or at the Closing, except to the extent such failure to perform would not prevent the ability of Buyer to effect the Closing hereunder, and (iv) the Company shall have received the items set forth in <u>Section 7.2(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At the Closing, the Buyer shall deliver or cause to be delivered to the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) executed counterparts of each Ancillary Agreement to which the Buyer is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) executed counterparts of the Executive Employment Agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) executed counterparts to the Lease Assignments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) executed counterparts to the Employee Leasing Agreement, if such agreement is deemed required;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) a certificate executed by an authorized officer of Buyer certifying the representations and warranties of Buyer set forth in <u>Article 5</u> are true and correct in all material respects as of the Closing Date, except to the extent such failure to be so true and correct would not prevent the ability of Buyer to effect the Closing hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) a certificate executed by an authorized officer of Buyer certifying Buyer shall have performed in all material respects all of the covenants and agreements required to be performed by it under this Agreement prior to or at the Closing, except to the extent such failure to perform would not prevent the ability of Buyer to effect the Closing hereunder; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) a copy of the resolutions of the Buyer's board of managers authorizing the execution, delivery and performance of this Agreement and the Ancillary Agreements and approving the consummation of the transactions contemplated hereby and thereby, certified by a duly authorized officer of the Buyer.

**<u>Article 8</u>**

**<u>TERMINATION</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 <u>Termination</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Mutual Termination</u>. This Agreement may be terminated at any time prior to the Closing by mutual written consent of the Collateral Agent (acting solely in its secured-party capacity under the Senior Notes Indenture) and Buyer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Buyer Termination</u>. This Agreement may be terminated at any time prior to the Closing by Buyer following any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the failure of the Collateral Agent or the Company Parties to achieve any of the Milestones (as defined in the RSA) in accordance with the terms of the RSA (subject to any mutually agreed extensions thereof), that has not been cured within ten (10) Business Days after receiving written notice thereof from Buyer (if capable of cure);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) a material breach by the Collateral Agent or the Company Parties of the terms of the RSA which has not been cured within ten (10) Business Days after receiving written notice thereof from Buyer (if capable of cure) and results in the termination of the RSA;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) (i) any of the representations or warranties of any Company Entity in <u>Article 3</u> or the Collateral Agent in <u>Article 4</u> is or becomes untrue or inaccurate such that the condition set forth in <u>Section 7.1(a)(x)</u> would not be satisfied or (ii) there has been a breach by the Company Entities or the Collateral Agent of any of their covenants or agreements contained in this Agreement such that the condition set forth in <u>Section 7.1(a)(xi)</u> would not be satisfied, and, in each case of clauses (i) and (ii), such breach or inaccuracy (if capable of cure) has not been cured by the Company Entities or the Collateral Agent within ten (10) Business Days after delivery of written notice thereof by the Buyer to the Company or the Collateral Agent (or, if less, any shorter period of time that remains between such notice and the Outside Date); provided that Buyer shall not be entitled to terminate pursuant to this <u>Section 8.1(b)(3)</u> if such inaccuracy or breach was primarily caused by the failure of Buyer to perform in any material respect any of the covenants or agreements to be performed by it prior to the Closing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) the Requisite Regulatory Approvals (x) have not been approved within one hundred eighty (180) days after such approval has been sought from the applicable Governmental Authority or (y) have been rejected by the applicable Governmental Authority;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) a law or regulation is enacted, adopted, promulgated or enforced that makes consummation of the transactions contemplated hereby illegal or otherwise prohibited or if the consummation of the transactions contemplated hereby would violate any order of any governmental authority having competent jurisdiction; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) anytime on or following the Outside Sale Transaction Effective Date (the "<u>Outside Date</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Collateral Agent Termination</u>. This Agreement may be terminated at any time prior to the Closing by the Collateral Agent, acting solely in its capacity as secured party under the Senior Notes Indenture, upon the occurrence of any of the following: (1)(i) any of the representations or warranties of Buyer in <u>Article 5</u> is or becomes untrue or inaccurate such that the condition set forth in <u>Section 7.2(a)(ii)</u> would not be satisfied, or (ii) there has been a breach by Buyer of any of its covenants or agreements contained in this Agreement such that the condition set forth in <u>Section 7.2(a)(iii)</u> would not be satisfied, and, in each case of clauses (i) and (ii), such breach or inaccuracy (if capable of cure) has not been cured by Buyer within ten (10) Business Days after delivery of written notice thereof by the Collateral Agent to Buyer (or, if less, any shorter period of time that remains between such notice and the Outside Date); provided that the Collateral Agent shall not be entitled to terminate pursuant to this <u>Section 8.1(c)(1)</u> if such inaccuracy or breach was primarily caused by the failure of the Collateral Agent to perform in any material respect any of its covenants or agreements to be performed by it prior to the Closing; (2) Buyer has otherwise materially breached the RSA or failed to perform any obligation thereunder required to be performed by Buyer prior to the Closing, and such breach or failure (if capable of cure) has not been cured within ten (10) Business Days after written notice thereof from the Collateral Agent to Buyer; or (3) a law or regulation is enacted, adopted, promulgated or enforced that makes consummation of the transactions contemplated hereby illegal or otherwise prohibited or if the consummation of the transactions contemplated hereby would violate any order of any governmental authority having competent jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Automatic Termination</u>. Unless otherwise agreed in writing by the Buyer, the Collateral Agent and the Company within five (5) Business Days of the valid termination of the RSA, this Agreement shall automatically terminate upon, and without further action of any Party, five (5) Business Days after the valid termination of the RSA in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>No Company Termination</u>. The Company Entities acknowledge and agree that they have no right to terminate, rescind, or otherwise avoid this Agreement and that their execution hereof is solely to effectuate the transactions contemplated by the RSA and the Collateral Agent's exercise of its remedies under Article 9 of the UCC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 <u>Effect of Termination</u>. In the event of termination of this Agreement in accordance with Section 8.1, this Agreement shall immediately terminate and have no further force and effect and there shall be no Liability on the part of any Party to any other Party under this Agreement, provided, however, that nothing contained herein shall relieve any Party hereto from liability for fraud or willful breach of this Agreement prior to such termination.

**<u>Article 9</u>**

**<u>MISCELLANEOUS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 <u>Survival</u>. All representations, warranties, covenants and agreements set forth in this Agreement, the Disclosure Schedules, or in any certificate or instrument delivered in connection herewith shall survive until the Closing and all such representations, warranties, covenants and agreements shall terminate on the date on which the Closing occurs; provided, that any covenants and agreements that by their terms are intended to survive the Closing shall survive until performed or otherwise in accordance with their terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 <u>Amendment</u>. This Agreement may not be amended or modified except (a) by an instrument in writing signed by or on behalf of the Buyer and the Collateral Agent (b) by a waiver in accordance with <u>Section</u> <u>9.3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 <u>Waiver</u>. Any Party to this Agreement may waive compliance or performance of any provision of this Agreement that is intended for the benefit of such waiving Party. Any such extension or waiver shall be valid only if set forth in a writing executed by the Party to be bound thereby. Any waiver of any term or condition shall not be construed as a waiver of any subsequent breach or waiver of the same term or condition or as a waiver of any other term or condition of this Agreement. The failure of any Party to assert any of its rights under this <u>Section</u> <u>9.3</u> shall not constitute a waiver of any of such rights. No course of dealing between or among any persons having any interest in this Agreement shall be deemed effective to modify, amend or discharge any part of this Agreement or any rights or obligations of any Party under or by reason of this Agreement. All rights and remedies existing under this Agreement are cumulative to, and not exclusive of, any rights or remedies otherwise available.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 <u>Specific Performance</u>. The Company Sellers agree and acknowledge that their Business is unique and recognize and affirm that in the event of a breach of this Agreement by any Company Seller, money damages may be inadequate and Buyer may have no adequate remedy at law. Accordingly, the Company Sellers agree that the Buyer shall have the right, in addition to any other rights and remedies existing in its favor, to enforce its rights and the Company Sellers' obligations hereunder by an action or actions for equitable relief, including injunction and specific performance. If any such action is brought by the Buyer to enforce this Agreement, the Company Sellers hereby waive the defense that there is an adequate remedy at law or the requirement for the posting of any bond or similar security. For the avoidance of doubt, the Collateral Agent shall have no obligation under this <u>Section 9.4</u> and no specific-performance remedy shall be available against the Collateral Agent except to the extent of its express obligations under this Agreement in its secured-party capacity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 <u>Expenses</u>. Except as otherwise expressly provided in the RSA (including the payment of Transaction Expenses (as defined in the RSA)), each of the Parties hereto shall pay all of its own fees, costs and expenses (including fees, costs and expenses of legal counsel, investment bankers, brokers or other representatives and consultants and appraisal fees, costs and expenses) incurred in connection with the negotiation of this Agreement and the Ancillary Agreements, and the consummation of the transactions contemplated hereby and thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6 <u>Notices</u>. All notices, claims, demands and other communications given or delivered under this Agreement shall be in writing and shall be deemed to have been duly made or given when personally delivered, mailed by first class mail, return receipt requested, or delivered by express courier service or via facsimile (with original copy to follow) to the respective Parties at the following addresses (or such other address for a Party as shall be specified in a notice given in accordance with this <u>Section</u> <u>9.6</u>):

If to the Company Entities:

Medicine Man Technologies Inc.<br> 865 N Albion St.<br> 3<sup>rd</sup> Floor<br> Denver, CO 80220<br> Attention: Christine Jones, Chief Legal Officer<br> Email: [\*\*\*]

with a copy (which shall not constitute notice) to:

Polsinelli PC<br> 600 Third Avenue, 42<sup>nd</sup> Floor<br> New York, NY 10016<br> Attention: Mark Joachim<br> E-mail: [\*\*\*]

If to the Collateral Agent or the Buyer:

Chicago Atlantic Admin, LLC<br> 420 N Wabash Avenue, Suite 500<br> Chicago, IL 60611<br> Attention: Peter Sack<br> Email: [\*\*\*]

with a copy (which shall not constitute notice) to:

Paul Hastings LLP<br> 200 Park Avenue<br> New York, NY 10166<br> Attention: Alex Cota; Robert Nussbaum; Josh Ratner<br> E-mail: [\*\*\*]

and

Eversheds Sutherland (US) LLP<br> 227 W. Monroe St., Suite 6000<br> Chicago, IL 60606<br> Attention: Craig Alcorn<br> Email: [\*\*\*]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7 <u>Binding Agreement; Assignment</u>. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns; provided that neither this Agreement nor any of the rights, interests or obligations hereunder may be assigned by operation of law or otherwise without the prior written consent of the Company, Collateral Agent and the Buyer; <u>provided</u>, <u>however</u>, that notwithstanding the foregoing, the Buyer may at any time in its sole discretion and without the consent of any other Party assign, in whole or in part, (a) its right to purchase the Acquired Assets and assume the Assumed Liabilities to one or more of its Affiliates (provided that no such assignment shall release the Buyer from its obligations hereunder); (b) its rights under this Agreement and the Ancillary Agreements for collateral security purposes to any lender providing financing to the Buyer, such permitted assign or any of their Affiliates, and any such lender may exercise all of the rights and remedies of such assignee hereunder and thereunder; and (c) its rights under this Agreement and the Ancillary Agreements to any subsequent purchaser of the Buyer or any material portion of its assets (whether such sale is structured as a sale of stock, or other equivalent sale of assets, merger, recapitalization or otherwise). If this Agreement is assigned pursuant to this <u>Section</u> <u>9.7</u>, such assignee shall agree in writing to be bound by all of the terms, conditions and provisions contained in this Agreement and no such assignment shall release the applicable Party from their obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.8 <u>Severability</u>. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under Applicable Law, but if any provision of this Agreement is held to be prohibited by or invalid under Applicable Law or public policy, such provision shall be ineffective only to the extent of such prohibition or invalidity, and all other terms of this Agreement shall remain in full force and effect for so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.9 <u>Disclosure Schedules</u>. The disclosure of any matter in any Disclosure Schedule to this Agreement shall be deemed to be a disclosure with respect to any other section or subsection of this Agreement with respect to which its relevance is reasonably apparent on its face for all purposes of this Agreement, but shall expressly not be deemed to constitute an admission by the Buyer or the Company Entities, or to otherwise imply, that any such matter is material for the purposes of this Agreement. Matters reflected in the Disclosure Schedules are not necessarily limited to matters required by this Agreement to be set forth on the Disclosure Schedules, and any such additional matters are for informational purposes only and do not necessarily include other matters of a similar nature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.10 <u>Construction</u>. The Parties have participated jointly in the negotiation and drafting of this Agreement and the other agreements, documents and instruments executed and delivered in connection herewith with sophisticated counsel. In the event an ambiguity or question of intent or interpretation arises, this Agreement and the agreements, documents and instruments executed and delivered in connection herewith shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any provisions of this Agreement and the agreements, documents and instruments executed and delivered in connection herewith. The Parties intend that each representation, warranty and covenant contained herein shall have independent significance. If any Party has breached any representation, warranty or covenant contained herein in any respect, the fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless of the relative levels of specificity) that the Party has not breached shall not detract from or mitigate the fact that the Party is in breach of the first representation, warranty or covenant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.11 <u>Entire Agreement</u>. This Agreement, the Disclosure Schedules identified in this Agreement and the other documents referred to herein including, without limitation, the RSA, contain the entire agreement between the Parties and supersede any prior understandings, agreements or representations by or between the Parties, written or oral, which may have related to the subject matter hereof in any way.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.12 <u>Exculpatory Provisions</u>. Notwithstanding anything to the contrary in this Agreement or any Ancillary Agreement, (i) the Collateral Agent shall not be liable to any Person for any breach by any Company Entity or the Buyer of their respective representations, warranties, covenants or other agreements in connection with this Agreement or Ancillary Agreement or the transactions contemplated by this Agreement, and (ii) the Collateral Agent shall not have any liability under or in respect of this Agreement or any Ancillary Agreement or the transactions contemplated by this Agreement for any and all Losses arising out of or relating to any claim by any Person (including any Company Seller or its creditors) challenging the validity of this Agreement or the Sale Proceeding, except to the extent finally determined to have resulted from the Collateral Agent's gross negligence or willful misconduct.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.13 <u>Counterparts</u>. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which taken together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.14 <u>Governing Law; Submission to Jurisdiction; Selection of Forum</u>. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT (WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE) SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING ITS UNIFORM COMMERCIAL CODE, WITHOUT REGARD TO ANY CONFLICT OF LAWS PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION. EACH PARTY AGREES THAT IT SHALL BRING ANY ACTION OR PROCEEDING IN RESPECT OF ANY CLAIM ARISING OUT OF OR RELATED TO THIS AGREEMENT EXCLUSIVELY IN THE FEDERAL DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK (LOCATED IN NEW YORK CITY, NEW YORK) OR, IF SUCH COURT DOES NOT HAVE JURISDICTION, IN THE STATE COURTS OF NEW YORK LOCATED IN NEW YORK COUNTY, BOROUGH OF MANHATTAN. SOLELY IN CONNECTION WITH CLAIMS ARISING UNDER THIS AGREEMENT: (a) each Party irrevocably submits to the exclusive jurisdiction of such courts; (b) each Party waives any objection to laying venue in any such action or proceeding in any such court; and (c) each Party waives any objection that any such court is an inconvenient forum or does not have jurisdiction over such Party. For the avoidance of doubt, the Parties acknowledge that Section 9-601 et seq. of the UCC (as in effect in the State of New York) shall govern the enforcement of the Collateral Agent's rights and remedies with respect to the Collateral Assets. Notwithstanding the foregoing, the Parties acknowledge and agree that (i) the Business and the Acquired Assets are regulated primarily under applicable state and local laws governing the cultivation, manufacture, distribution, sale and possession of cannabis and cannabis-related products (collectively, the "<u>Applicable State Cannabis Laws</u>"); (ii) to the extent such Applicable State Cannabis Laws constitute the sole legal requirements governing the issuance, maintenance, transfer or compliance of any license, permit, authorization or approval required for the ownership or operation of the Business, such Applicable State Cannabis Laws shall exclusively govern the Parties' respective rights and obligations with respect thereto; and (iii) nothing in this Agreement shall be construed as an admission by any Party regarding the applicability, validity or enforceability of any Federal Cannabis Law or as requiring any Party to violate Applicable Law. To the maximum extent permitted by Applicable Law, each Party agrees that the fact that cannabis is or may be treated as illegal under Federal Cannabis Laws shall not be asserted as, and does not constitute, a defense to the enforcement of this Agreement or any Ancillary Agreement, and each Party hereby irrevocably waives any such defense in any dispute or Proceeding arising out of or relating to this Agreement or any Ancillary Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.15 <u>Parties in Interest</u>. Nothing in this Agreement, express or implied, is intended to confer on any person other than the Parties and their respective successors and assigns any rights or remedies under or by virtue of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.16 <u>Regulatory Information</u>. This Agreement and the transactions contemplated hereby may be subject to review, comment or approval by one or more Governmental Authorities (including, for the avoidance of doubt, state or local cannabis regulatory authorities). If any such Governmental Authority determines that any term of this Agreement must be modified as a condition to approval or continued effectiveness of any Seller License or as a condition to any Requisite Regulatory Approval, the Parties shall negotiate in good faith to amend this Agreement (but the Buyer shall be under no obligation to so amend this Agreement) to implement the minimum changes required by such Governmental Authority while preserving to the greatest extent possible the original intent of the Parties and the economic allocation of risk and benefit reflected herein. Any such amendment shall be documented pursuant to Section 9.2. For the avoidance of doubt, Section 9.8 (Severability) shall apply in addition to this Section 9.16.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.17 <u>Schedule Supplement</u>. From time to time prior to the Closing, but no more than one (1) time prior to the Closing Date, the Company Entities shall have the right (but not the obligation) to supplement or amend the Disclosure Schedules hereto with respect to any matter hereafter arising (each a "<u>Schedule Supplement</u>"). Any disclosure in any such Schedule Supplement shall not be deemed to have cured any inaccuracy in or breach of any representation or warranty contained in this Agreement, including for purposes of the termination rights contained in this Agreement; provided, however*,* that if as a result of matters disclosed in such Schedule Supplement that are matters in an aggregate amount not in excess of $100,000, Buyer has the right to, but does not elect to, terminate this Agreement within twenty (20) days of its receipt of such Schedule Supplement, then Buyer shall be deemed to have irrevocably waived any right to terminate this Agreement with respect to such matter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.18 <u>Press Releases and Announcements</u>. No press release or public statement related to this Agreement or the transactions contemplated hereby shall be issued without the prior written consent of the Buyer, except as required by Applicable Law.

[*Signature Pages Follow*]

IN WITNESS WHEREOF, each of the Parties hereto has executed this Agreement as of the day and year first above written.

---

| | |
|:---|:---|
| **<u>BUYER</u>**: | **<u>BUYER</u>**: |
| **VIREO HEALTH OF ROCKY MOUNTAIN, LLC** | **VIREO HEALTH OF ROCKY MOUNTAIN, LLC** |
| By: | /s/ John Mazarakis |
| Name: | John Mazarakis |
| Title: | Director and Chief Executive Officer |

---

[*Signature Page to Asset Purchase Agreement*]

IN WITNESS WHEREOF, each of the Parties hereto has executed this Agreement as of the day and year first above written.

---

| | |
|:---|:---|
| **<u>COLLATERAL AGENT</u>**: | **<u>COLLATERAL AGENT</u>**: |
| **CHICAGO ATLANTIC ADMIN, LLC** | **CHICAGO ATLANTIC ADMIN, LLC** |
| By: | /s/ Peter Sack |
| Name: | Peter Sack |
| Title: | Authorized Person |

---

[*Signature Page to Asset Purchase Agreement*]

IN WITNESS WHEREOF, each of the Parties hereto has executed this Agreement as of the day and year first above written.

---

| | |
|:---|:---|
| **<u>COMPANY</u>:** | **<u>COMPANY</u>:** |
| **MEDICINE MAN TECHNOLOGIES, INC.** | **MEDICINE MAN TECHNOLOGIES, INC.** |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |

---

[*Signature Page to Asset Purchase Agreement*]

IN WITNESS WHEREOF, each of the Parties hereto has executed this Agreement as of the day and year first above written.

---

| | |
|:---|:---|
| **<u>COMPANY SELLERS</u>:** | **<u>COMPANY SELLERS</u>:** |
| **DOUBLE BROW, LLC** | **DOUBLE BROW, LLC** |
|  | By: Schwazze Colorado, LLC, its Sole Member |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |
| **SMOKE HOLDCO, LLC** | **SMOKE HOLDCO, LLC** |
|  | By: Schwazze Colorado, LLC, its Sole Member |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |
| **SCHWAZZE BIOSCIENCES, LLC** | **SCHWAZZE BIOSCIENCES, LLC** |
|  | By: Schwazze Colorado, LLC, its Sole Member |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |

---

[*Signature Page to Asset Purchase Agreement*]

---

| | |
|:---|:---|
| **SBUD LLC** | **SBUD LLC** |
|  | By: Schwazze Colorado, LLC, its Sole Member |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |
| **TWO J'S LLC** | **TWO J'S LLC** |
|  | By: Medicine Man Technologies, Inc., its Sole Member |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |
| **SCHWAZZE IP HOLDCO LLC** | **SCHWAZZE IP HOLDCO LLC** |
|  | By: MIH Manager, LLC, its Sole Member |
|  | By: Schwazze Colorado, LLC, its Sole Member |
|  | By: Medicine Man Technologies, its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |

---

[*Signature Page to Asset Purchase Agreement*]

---

| | |
|:---|:---|
| **MIH MANAGER LLC** | **MIH MANAGER LLC** |
|  | By: Schwazze Colorado, LLC, its Sole Member |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |
| **NUEVO HOLDING, LLC** | **NUEVO HOLDING, LLC** |
|  | By: Schwazze New Mexico, LLC, its Sole Member |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |
| **RESERVE 1 MANITOU, LLC** | **RESERVE 1 MANITOU, LLC** |
|  | By: Emerald Fields Merger Sub, LLC, its Sole Member |
|  | By: Schwazze Colorado, LLC, its Sole Member |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |
| **RESERVE1 LLC** | **RESERVE1 LLC** |
|  | By: Emerald Fields Merger Sub, LLC, its Sole Member |
|  | By: Schwazze Colorado, LLC, its Sole Member |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |

---

[*Signature Page to Asset Purchase Agreement*]

---

| | |
|:---|:---|
| **LIBERTY FIELDS, LCC** | **LIBERTY FIELDS, LCC** |
|  | By: Emerald Fields Merger Sub, LLC, its Sole Member |
|  | By: Schwazze Colorado, LLC, its Sole Member |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |
| **COLORADO BLACK DIAMOND CANNABIS COMPANY, LLC** | **COLORADO BLACK DIAMOND CANNABIS COMPANY, LLC** |
|  | By: Emerald Fields Merger Sub, LLC, its Manager |
|  | By: Schwazze Colorado, LLC, its Sole Member |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |
| **EMERALD FIELDS MERGER SUB, LLC** | **EMERALD FIELDS MERGER SUB, LLC** |
|  | By: Schwazze Colorado, LLC, its Sole Member |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |

---

[*Signature Page to Asset Purchase Agreement*]

---

| | |
|:---|:---|
| **EVEREST APOTHECARY, INC.** | **EVEREST APOTHECARY, INC.** |
|  | By: Evergreen Holdco, LLC, its Sole Member |
|  | By: Schwazze New Mexico, LLC, its Sole Member |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |
| **EVERGREEN HOLDCO, LLC** | **EVERGREEN HOLDCO, LLC** |
|  | By: Schwazze New Mexico, LLC, its Sole Member |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |
| **MEDZEN SERVICES INC.** | **MEDZEN SERVICES INC.** |
|  | By: Nuevo Holding, LLC, its Sole Member |
|  | By: Schwazze New Mexico, LLC, its Sole Member |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |

---

[*Signature Page to Asset Purchase Agreement*]

---

| | |
|:---|:---|
| **R. GREENLEAF ORGANICS, INC.** | **R. GREENLEAF ORGANICS, INC.** |
|  | By: Nuevo Holding, LLC, its Sole Member |
|  | By: Schwazze New Mexico, LLC, its Sole Member |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |
| **<u>COMPANY NON-SELLERS</u>:** | **<u>COMPANY NON-SELLERS</u>:** |
| **SCG HOLDING, LLC** | **SCG HOLDING, LLC** |
|  | By: Medicine Man Technologies, Inc., its Sole Member |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |
| **SCHWAZZE COLORADO LLC** | **SCHWAZZE COLORADO LLC** |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |

---

[*Signature Page to Asset Purchase Agreement*]

---

| | |
|:---|:---|
| **MEDICINE MAN CONSULTING, INC.** | **MEDICINE MAN CONSULTING, INC.** |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |
| **MESA ORGANICS II LTD.** | **MESA ORGANICS II LTD.** |
|  | By: PBS Holdco LLC, its Sole Member |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |
| **MESA ORGANICS III LTD.** | **MESA ORGANICS III LTD.** |
|  | By: PBS Holdco LLC, its Sole Member |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |
| **MESA ORGANICS IV LTD.** | **MESA ORGANICS IV LTD.** |
|  | By: PBS Holdco LLC, its Sole Member |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |

---

[*Signature Page to Asset Purchase Agreement*]

---

| | |
|:---|:---|
| **PBS HOLDCO LLC** | **PBS HOLDCO LLC** |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |
| **SCHWAZZE NEW MEXICO, LLC** | **SCHWAZZE NEW MEXICO, LLC** |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |
| **NUEVO ELEMENTAL HOLDING, LLC** | **NUEVO ELEMENTAL HOLDING, LLC** |
|  | By: Schwazze New Mexico, LLC, its Manager |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |

---

[*Signature Page to Asset Purchase Agreement*]

---

| | |
|:---|:---|
| **ELEMENTAL KITCHEN AND LABORATORIES, LLC** | **ELEMENTAL KITCHEN AND LABORATORIES, LLC** |
|  | By: Nuevo Elemental Holding LLC, its Sole Member |
|  | By: Schwazze New Mexico, LLC, its Manager |
|  | By: Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |
| **RE HOLDCO, LLC** | **RE HOLDCO, LLC** |
|  | By: MIH Manager, LLC, its Sole Member |
|  | By: Schwazze Colorado, LLC, its Sole Member |
|  | By : Medicine Man Technologies, Inc., its Manager |
| By: | /s/ Forrest Hoffmaster |
| Name: | Forrest Hoffmaster |
| Title: | Chief Executive Officer |

---

[*Signature Page to Asset Purchase Agreement*]

## Exhibit 2.2

**Exhibit 2.2**

***EXECUTION VERSION***

**FIRST AMENDMENT TO**

**ASSET PURCHASE AGREEMENT**

**THIS FIRST AMENDMENT TO ASSET PURCHASE AGREEMENT** (this "**Amendment**") is made and entered into effective as of January 29, 2026, by and between Vireo Health of Rocky Mountain, LLC, a Delaware limited liability company ("**Buyer**"), and Chicago Atlantic Admin, LLC, a Delaware limited liability company (the "**Collateral Agent**"). Each of Buyer and the Collateral Agent are referred to herein as a "**Party**" and collectively as the "**Parties**".

**BACKGROUND**

Reference is made to that certain Asset Purchase Agreement, dated as of November 13, 2025 (as amended from time to time, the "**Agreement**"), by and among (a) Buyer, (b) the Collateral Agent, solely in its capacity as the collateral agent under that certain Senior Notes Indenture and related Senior Notes Documents, (c) Medicine Man Technologies, Inc., a Nevada corporation (the "**Company**"), and (d) the Company's Subsidiaries listed on Schedule I and Schedule II of the Purchase Agreement (collectively with the Company, the "**Company Entities**"). The Parties desire to amend the Agreement as set forth herein. Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Agreement.

**AGREEMENT**

For good and valuable consideration, the adequacy and sufficiency of which are hereby acknowledged, the Parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1. <u>Amendments to Agreement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Parties acknowledge and agree that (i) the Agreement requires that, as a condition to Closing, certain of the Company Entities deliver to Buyer the Requisite Regulatory Approvals granting the Permits held by such Company Entities in each applicable state to Buyer or its designee, and (ii) Vireo Health of Denver Metro, LLC, a Delaware limited liability company registered with the Secretary of State of the State of Colorado as a foreign limited liability company with ID number 20258258918, shall be Buyer's designee to acquire, and shall acquire, certain of the Acquired Assets of the Company Entities, including, without limitation, the Permits currently held by SBUD, LLC, a Colorado limited liability company registered with the Secretary of State of the State of Colorado with ID number 20201414006, and Double Brow, LLC, a Colorado limited liability company registered with the Secretary of State of the State of Colorado with ID number 20211550989, set forth on **Exhibit A**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding Section 7.1(b)(16) of the Agreement, (i) prior to and after the Closing, the Company Entities shall use commercially reasonable efforts to provide estoppels in customary form from the landlord under each Material Lease listed on Annex A; Section (a), dated no earlier than the date that is thirty (30) days prior to the Closing Date, indicating that the applicable Lease is in full force and effect and free from any breach or default on the part of the tenant thereunder, and (ii) Buyer hereby waives the conditions to Closing set forth in Sections 7.1(a)(xi) and 7.2(b)(16) of the Agreement with respect to the delivery of all such estoppels by the Company Entities as of the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Miscellaneous</u>. Except as expressly modified by this Amendment, the Agreement shall remain unmodified and in full force and effect. The terms of Article 9 of the Agreement shall apply to this Amendment, as applicable, as if fully set forth herein.

*[Signatures appear on the following page.]*

IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed effective as of the day and year first set forth above.

---

| | |
|:---|:---|
| **BUYER:** | **BUYER:** |
| **VIREO HEALTH OF ROCKY MOUNTAIN, LLC** | **VIREO HEALTH OF ROCKY MOUNTAIN, LLC** |
| By: | /s/ John Mazarakis |
| Name: | John Mazarakis |
| Title: | Chief Executive Officer |
| **COLLATERAL AGENT:** | **COLLATERAL AGENT:** |
| **CHICAGO ATLANTIC ADMIN, LLC** | **CHICAGO ATLANTIC ADMIN, LLC** |
| By: | /s/ Peter Sack |
| Name: | Peter Sack |
| Title: | Authorized Person |

---

[Signature Page to First Amendment to Asset Purchase Agreement]

## Exhibit 2.3

**Exhibit 2.3**

***EXECUTION VERSION***

**<u>CERTAIN CONFIDENTIAL INFORMATION (MARKED BY BRACKETS AS "[\*\*\*]") HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE OF INFORMATION THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.</u>**

**SECOND AMENDMENT TO**

**ASSET PURCHASE AGREEMENT**

**THIS SECOND AMENDMENT TO ASSET PURCHASE AGREEMENT** (this "**Amendment**") is made and entered into effective as of March 2, 2026, by and between Vireo Health of Rocky Mountain, LLC, a Delaware limited liability company ("**Buyer**"), and Chicago Atlantic Admin, LLC, a Delaware limited liability company (the "**Collateral Agent**"). Each of Buyer and the Collateral Agent are referred to herein as a "**Party**" and collectively as the "**Parties**".

**BACKGROUND**

Reference is made to that certain Asset Purchase Agreement, dated as of November 13, 2025 (as amended from time to time, including pursuant to that First Amendment to Asset Purchase Agreement dated January 29, 2026, the "**Agreement**"), by and among (a) Buyer, (b) the Collateral Agent, solely in its capacity as the collateral agent under that certain Senior Notes Indenture and related Senior Notes Documents, (c) Medicine Man Technologies, Inc., a Nevada corporation (the "**Company**"), and (d) the Company's Subsidiaries listed on Schedule I and Schedule II of the Purchase Agreement (collectively with the Company, the "**Company Entities**"). The Parties desire to amend the Agreement as set forth herein. Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Agreement.

**AGREEMENT**

For good and valuable consideration, the adequacy and sufficiency of which are hereby acknowledged, the Parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Amendments to Agreement</u>. The Agreement is hereby amended as set forth in the amended Agreement attached hereto as <u>Exhibit A</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Miscellaneous</u>. Except as expressly modified by this Amendment, the Agreement (as amended) shall remain unmodified and in full force and effect. The terms of Article 9 of the Agreement shall apply to this Amendment, as applicable, as if fully set forth herein.

*[Signatures appear on the following page.]*

IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed effective as of the day and year first set forth above.

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| | |
|:---|:---|
| **BUYER:** | **BUYER:** |
| **VIREO HEALTH OF ROCKY MOUNTAIN, LLC** | **VIREO HEALTH OF ROCKY MOUNTAIN, LLC** |
| By: | /s/ John Mazarakis |
| Name: | John Mazarakis |
| Title: | Chief Executive Officer |
| **COLLATERAL AGENT:** | **COLLATERAL AGENT:** |
| **CHICAGO ATLANTIC ADMIN, LLC** | **CHICAGO ATLANTIC ADMIN, LLC** |
| By: | /s/ Peter Sack |
| Name: | Peter Sack |
| Title: | Authorized Person |

---

*[Signature Page to Second Amendment to Asset Purchase Agreement]*

**<u>EXHIBIT A</u>**

**AMENDED AGREEMENT**

Execution Version

**ASSET PURCHASE AGREEMENT**

**BY AND AMONG**

**VIREO HEALTH OF ROCKY MOUNTAIN, LLC, CHICAGO ATLANTIC ADMIN, LLC, MEDICINE MAN TECHNOLOGIES, INC.**

**AND**

**THE OTHER PARTIES NAMED HEREIN**

**DATED AS OF NOVEMBER 13, 2025**

**<u>**TABLE OF CONTENTS**</u>**

<u>Page</u>

**<u>INDEX OF SCHEDULES, ANNEXES & EXHIBITS</u>**

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| | |
|:---|:---|
| Schedule I | Company Sellers |
| Schedule II | Company Non-Sellers |
| Annex A | Acquired Assets |
| Annex B | Excluded Assets |
| Annex C | Assumed Liabilities |
| Annex D | Excluded Liabilities |

---

Exhibit A Form of Bill of Sale and Assignment and Assumption Agreement <br> Exhibit B Form of Lease Assignments <br> Exhibit C Form of Intellectual Property Assignments

**ASSET PURCHASE AGREEMENT**

THIS ASSET PURCHASE AGREEMENT (this "<u>Agreement</u>") is made as of November 13, 2025, by and among (a) Vireo Health of Rocky Mountain, LLC, a Delaware limited liability company (the "<u>Buyer</u>"), (b) Chicago Atlantic Admin, LLC, solely in its capacity as the collateral agent under that certain Senior Notes Indenture (as defined below) and related Senior Notes Documents (as defined below) (the "<u>Collateral Agent</u>"), (c) Medicine Man Technologies, Inc., a Nevada corporation (the "<u>Company</u>"), (d) the Company's Subsidiaries listed hereto on <u>Schedule</u> I (collectively with the Company, the "<u>Company Sellers</u>"), and (e) the Company's Subsidiaries listed hereto on <u>Schedule II</u> (the "<u>Company Non-Sellers</u>", and together with the Company Sellers, the "<u>Company Entities</u>"). The Company Sellers and the Collateral Agent are sometimes referred to collectively as the "<u>Selling Parties</u>," and each individually as a "<u>Selling Party</u>." Capitalized terms used but not otherwise defined herein have the meanings set forth in <u>Section 1.1</u>.

**WHEREAS**, the Company is in default of its obligations under that certain Indenture dated as of December 7, 2021 (the "<u>Senior Notes Indenture</u>") between the Company, as Issuer, the Subsidiaries, as guarantors, Ankura Trust Company LLC (the "<u>Senior Notes Trustee</u>") as trustee, registrar, paying agent, and conversion agent, and the Collateral Agent as the Senior Notes Collateral Agent.

**WHEREAS**, as a result of such defaults, the Senior Notes Trustee is entitled to exercise its remedies under the Senior Notes Documents (as defined in the RSA) and Applicable Laws, including to foreclose its security interests upon the Senior Notes Collateral securing the Senior Notes Obligations under the Senior Notes.

<u>**WHEREAS,** the Parties acknowledge and agree that the Collateral Agent holds certain Liens and security interests on the Collateral Assets, but does not, has never, and will not hold legal or beneficial title thereto, and does not, has never, and will not exercise or possess "control" (as such term is used under 1 CCR 212-3, Rule 1-115 of the Code of Colorado Regulations or any other applicable cannabis regulatory authority) over the Company Sellers, their business, or any Seller Licenses (as defined herein), and acts solely in its representative capacity on behalf of the Senior Noteholders (and at the direction of the Required Consenting Senior Noteholder) to enforce and release such Liens in accordance with Article 9 of the UCC.</u>

**WHEREAS**, reference is hereby made to that certain Restructuring Support Agreement, by and among the Company, the Consenting Senior Noteholders (as defined in the RSA), the Consenting Star Buds Seller Note Parties (as defined in the RSA), and the other signatories thereto, dated as of October 10, 2025 (the "<u>RSA</u>"), whereby the parties thereto agreed to implement the Restructuring Transactions (as defined therein) pursuant to the RSA, the Restructuring Term Sheet (as defined in the RSA) and the other Definitive Documents (as defined in the RSA) through, among other steps: (a) the sale, conveyance, assignment, transfer and delivery to the Buyer (or one or more of its Affiliates) of all right, title, and interest in and to (i) the Transferred Collateral Assets by the Collateral Agent, solely in its capacity as secured party under Article 9 of the UCC, on behalf of the Senior Noteholders and (ii) the Non-Collateral Transferred Assets by the Company Sellers as the record owners of such property, in each case together with the Buyer's assumption of the related Assumed Liabilities to effectuate the Sale Transaction (as defined in the RSA); (b) implementation of the Sale Transaction through<u>following</u> a public disposition of collateral pursuant to Sections 9-610 and 9-611 of the UCC, to be<u>with such auction</u> conducted by the Collateral Agent <u>at the direction of the Required Consenting Senior Noteholder (with such auction not conveying or transferring any interests or rights in the Acquired Assets to any Person and serving solely to designate the winning bidder for the contemplated Sale Transaction to be consummated under this Agreement)</u>,coupled with a consensual assignment of the Non-Collateral Transferred Assets by the Company Sellers to the Buyer in accordance with the RSA; (c) the liquidation of the Excluded Assets and treatment of the Excluded Liabilities of the Company Parties (as defined in the RSA), and wind-down of the applicable Company Parties through the commencement of one or more proceedings under applicable state law (including, without limitation, a receivership, liquidation, foreclosure, dissolution, and/or an assignment for the benefit of creditors), in each case, as determined by the Ad Hoc Committee (as defined in the RSA) and reasonably acceptable to the Company; and (d) adopting plans for the post-restructuring compensation, retention, bonus, and incentive structure for leadership, management, and key employees, through the Management Incentive Plan, Consulting Agreement, Employee Retention Plan and Executive Employment Agreements (each as defined in the RSA).

<u>**WHEREAS**, in accordance with the RSA and Sections 9-610 and 9-611 of the UCC, the Collateral Agent, at the direction of the Required Consenting Senior Noteholder, conducted a public disposition of the Transferred Collateral Assets (the "Auction"), which Auction has been completed and at which the Buyer was selected as the highest or otherwise prevailing bidder for the Acquired Assets.</u>

**WHEREAS**, <u>following completion of the Auction and</u> pursuant to and in accordance with the RSA, the Buyer desires to acquire from the Selling Parties, and the Selling Parties (acting in their respective capacities as described above), desire to transfer or convey to Buyer or one of its designated Affiliates,<u>at the Closing, the right, title and interest in and to</u> the Acquired Assets (as defined below), in consideration of, and in exchange for, the cancellation and satisfaction in full of the Senior Notes Obligations (as defined in the RSA) and the release of all Liens and security interests on the Collateral Assets<u>as provided herein</u>, including (i) the automatic release of Liens on the Transferred Collateral Assets pursuant to the Sale Proceeding and (ii) the release of Liens on the Non-Transferred Collateral Assets in connection with such satisfaction in full, in each case pursuant to and in accordance with the RSA, and subject to the terms and conditions set forth herein.

<u>**WHEREAS**, the Parties acknowledge and agree that (i) the Auction constituted solely the determination of Buyer as the prevailing bidder and did not convey, transfer, assign or otherwise vest in Buyer or the Collateral Agent any legal or equitable right, title or interest in or control over any Collateral Assets or other Acquired Assets, (ii) the Collateral Agent does not hold, has never held, and shall not at any time hold legal or beneficial title to the Collateral Assets or the Acquired Assets, but acts solely in its representative capacity on behalf of the Senior Noteholders to enforce and release Liens in accordance with Article 9 of the UCC, (iii) no Liens were released, satisfied or discharged as a result of the Auction, and (iv) the disposition of the Acquired Assets pursuant to Article 9 of the UCC shall be consummated only at the Closing in accordance with this Agreement and the Ancillary Documents, at which time, and not before, title shall transfer directly from the applicable Selling Parties to Buyer, and the legal effect of such disposition, including any discharge of junior Liens pursuant to Section 9-617 of the UCC, shall occur.</u>

**WHEREAS,** this Agreement and the transactions contemplated hereby are intended to constitute the Sale Proceeding under the RSA and a public sale under Sections 9-610 and 9-617 of the UCC, and the Parties desire that the Acquired Assets be transferred to Buyer free and clear of all Liens (other than Post-Closing Permitted Liens), and Buyer shall not assume, and shall have no liability for, any other Liabilities or obligations of the Selling Parties except the Assumed Liabilities.

**NOW, THEREFORE**, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

**<u>ARTICLE 1</u>**

**<u>DEFINITIONS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 <u>Definitions</u>. For purposes of this Agreement, the following terms shall have the meanings set forth below:

"<u>Affiliate</u>" means, with respect to any Person, any other Person controlling, controlled by or under common control with such particular Person, where "control" means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person whether through the ownership of voting securities, as trustee, personal representative or executor, by contract, credit arrangement or otherwise.

"<u>Affiliated Group</u>" means an affiliated group as defined in Section 1504 of the Code (or analogous combined, consolidated or unitary group defined under state, local or foreign income tax law).

"<u>Akimbo APA</u>" means that certain Asset Purchase Agreement dated as of April 13, 2023, by and among Double Brow, LLC (as buyer), the Company (as parent), Standing Akimbo, LLC (as seller and representative), and Spencer A. Kirson and John G. Murphy (as equityholders).

"<u>Allocation Schedule</u>" shall mean the schedule allocating the Purchase Price and the Assumed Liabilities in accordance with Section 1060 of the Code and the Treasury Regulations thereunder and any corresponding requirements of any state, local, or foreign tax laws, as applicable.

"<u>Altmore Claims</u>" means claims and causes of action asserted by SHWZ Altmore LLC ("<u>Altmore</u>"), including, without limitation, all claims asserted under the loan agreement dated February 26, 2021 by and between Altmore, as lender, and PBS HoldCo, LLC, a subsidiary of the Company, as borrower, and the guaranty agreement dated February 26, 2021, by and between Altmore, as lender, and the Company, as guarantor, and any and all claims and causes of action asserted by Altmore.

"<u>Altmore Loan Agreement Documents</u>" means that certain (i) Loan Agreement dated as of February 26, 2021, by and among Mesa Organics Ltd., Mesa Organics II Ltd., Mesa Organics III Ltd., Mesa Organics IV Ltd., SCG Holding, LLC and PBS Holdco LLC and certain borrowers from time to time ("<u>Borrowers</u>") and SHWZ Altmore, LLC ("<u>Lender</u>") and GGG Partners LLC (as collateral agent); (ii) Promissory Note dated as of February 26, 2021, by and among Borrowers, Lender and GGG Partners LLC (as collateral agent); (iii) Security Agreement dated as of February 26, 2021, by and among Borrowers, Lender and GGG Partners LLC (as collateral agent); (iv) Intellectual Property Security Agreement dated as of February 26, 2021, by and among Borrowers, Lender and and GGG Partners LLC (as collateral agent); (v) Parent Guaranty dated as of February 26, 2021, by and among the Company (as guarantor) and GGG Partners, LLC (as collateral agent); and (vi) all other agreements, documents, certificates, and instruments executed and delivered by Borrowers and the Company as guarantor to Lender in connection therewith.

"<u>Ancillary Agreements</u>" means each of the agreements entered into or to be entered into in connection with this Agreement and the transactions contemplated hereby, including but not limited to the Bill of Sale, the Lease Assignments and the Intellectual Property Assignments.

"<u>Applicable Law</u>" means any applicable provision of any constitution, treaty, statute, law, rule, regulation, ordinance, code, order, decree, consent decree, or settlement enacted, adopted, issued or promulgated by any Governmental Authority.

"<u>Bill of Sale</u>" means the Bill of Sale and Assignment and Assumption Agreement to be executed by the applicable Selling Party and the Buyer at the Closing with respect to the applicable Acquired Assets and Assumed Liabilities, substantially in the form of <u>Exhibit A</u>.

"<u>Business</u>" means the business of the Company Entities as currently conducted and as currently proposed to be conducted immediately prior to the Closing, including the business of cultivating, packaging, distributing and selling cannabis products.

"<u>Business Contingent Workers</u>" means the individuals listed on <u>Schedule 3.17(b)</u> (as may be amended at the Buyer's election after the date hereof to reflect any applicable new contingent workers Buyer wishes to offer or departures).

"<u>Business Day</u>" means any day that is not a Saturday, Sunday or other day on which banks are required or authorized by law to be closed in the state of New York.

"<u>Business Employees</u>" means the individuals listed on <u>Schedule 3.17(a)</u> (as may be amended at the Buyer's election after the date hereof to reflect any applicable new hires Buyer wishes to offer or departures).

"<u>Cash</u>" means the amount of cash and cash equivalents (including marketable securities and marketable short term investments) that would be recorded on a consolidated balance sheet for the applicable Company Entities prepared in accordance with GAAP using the same accounting methods, policies, practices and procedures, with consistent classifications, judgments and estimation methodology, as were used in preparation of the Reference Balance Sheet (as defined in <u>Section 3.5</u>).

"<u>Closing</u>" shall mean the closing of the purchase, sale and conveyance of the Acquired Assets and assumption of the Assumed Liabilities on the terms and conditions set forth in this Agreement.

"<u>COBRA</u>" means the continuation coverage requirements for "group health plans" under Section 4980B of the Code and Sections 601 through 608 of ERISA, and any similar and applicable State or local Applicable Law, and in each case, any official guidance promulgated thereunder.

"<u>Code</u>" means the Internal Revenue Code of 1986, as amended from time to time.

"<u>Collateral Assets</u>" means, collectively, all assets, rights and property of the Company Entities that, as of the Closing Date, secure or purport to secure the Senior Notes Obligations under the Senior Notes Documents, whether tangible or intangible, real, personal or mixed, wherever located, including all proceeds thereof.

"<u>Consenting Senior Noteholders</u>" has the meaning ascribed to such term in the RSA.

"<u>Consulting Agreement</u>" has the meaning ascribed to such term in the RSA.

"<u>Consulting Party</u>" has the meaning ascribed to such term in the RSA.

"<u>Consulting Party Financing Opportunity</u>" has the meaning ascribed to such term in the RSA.

"<u>Contingent Worker</u>" means an independent contractor, consultant, temporary employee, leased employee or other service provider classified, treated, and paid other than as an employee, or compensated other than through the direct payment of wages through payroll.

"<u>Contract</u>" means any legally binding written contract, intellectual property license, sublicense, mortgage, purchase order, indenture, loan agreement, lease, sublease, agreement or instrument or any binding written commitment to enter into any of the foregoing to which a Person is a party or by which any Person's assets are bound.

"<u>Disclosure Schedule</u>," "<u>Disclosure Schedules</u>" or "<u>Schedule</u>" means the Disclosure Schedule attached hereto, delivered by the Company to the Buyer in connection with this Agreement.

"<u>Employee Benefit Plan</u>" means an "employee benefit plan" (as defined in Section 3(3) of ERISA, whether or not such plan is subject to ERISA), and each other compensation or benefit plan, program, policy, arrangement or agreement providing for employment, individual consulting, severance, termination, separation, incentive or bonus, commission, retention, change in control, deferred compensation, profit sharing, retirement, welfare, post-employment welfare, vacation or paid-time-off, equity or phantom equity, or other compensation or benefits, that is maintained, sponsored or contributed to (or required to be maintained, sponsored or contributed to) by any of the Company Entities or with respect to which any of the Company Entities have or could have any Liability.

"<u>Employee Liabilities</u>" means all Liabilities with respect to wages, compensation, cash or equity incentives, benefits, severance, and other accrued or contingent obligations, employment, engagement, retention or discharge, COBRA (or similar Applicable Laws), the WARN Act, the National Labor Relations Act and claims of unfair labor practices, and claims under any Applicable Laws relating to employment or labor (a) relating to any employee or service provider of a Company Entity (including any Business Employee or Business Contingent Worker) who does not become a Transferred Service Provider for any reason, or to any former employee or service provider of any Company Entity, regardless of when arising, (b) relating to any Business Employee or Business Contingent Worker who becomes a Transferred Service Provider (or any beneficiary or dependent thereof), to the extent arising on or prior to the Closing (including all severance and separation-related Liabilities arising in connection with a Transferred Service Provider's termination of employment or service with any Company Entity as of the Closing), or (c) arising at any time under each Employee Benefit Plan.

"<u>Employee Representative Body</u>" means a labor or trade union, works council, employee association, or similar employee representative body.

"<u>Environmental Claim</u>" means any written notice, demand, claim, suit, proceeding or other communication alleging liability or potential responsibility (including for investigatory cost, cleanup cost, governmental response cost, natural resources damage, property damage, personal injury or penalty) under any Environmental Law, including any of the foregoing arising out of, relating to or resulting from (a) the presence or Release of any Hazardous Substance or (b) any violation or duty to comply with any Environmental Law or Permit required thereunder.

"<u>Environmental Law</u>" means any applicable federal, state or local law (including common law), statute, regulation, ordinance, code, guidance having the force of law, or other legal requirement relating to the protection of human health and safety (to the extent related to Hazardous Substances), or the environment, natural resources, climate change, biodiversity, wildlife or habitats, including any of the foregoing relating to any presence, emission, discharge, Release or potential Release of any Hazardous Substance, or otherwise relating to the manufacture, processing, distribution, use, registration, treatment, storage, disposal, transport, handling or human exposure to any Hazardous Substance.

"<u>ERISA</u>" means the Employee Retirement Income Security Act of 1974, as amended from time to time.

"<u>ERISA Affiliate</u>" means an entity that is considered one employer with the Company or any of the Company Entities under Section 4001 of ERISA or Section 414 of the Code.

"<u>Everest APA</u>" means that certain Asset Purchase Agreement dated as of April 21, 2023, by and among Evergreen Holdco, LLC (as purchaser), the Company (as parent), Sucellus, LLC (as seller), James Griffin, Brook Laskey, William Baldwin, Andrew Dolan, and Greg Templeton (as equityholders), and Brook Laskey (as representative), as amended by that certain Amendment to Asset Purchase Agreement dated as of June 1, 2023.

"<u>Everest Note</u>" means that certain Promissory Note dated June 1, 2023, by and among Evergreen Holdco, LLC, and the Company (as payor) and Sucellus, LLC (as holder).

"<u>Exchange Act</u>" means the Securities Exchange Act of 1934, as amended.

"<u>Excluded Taxes</u>" means (i) all Taxes of the applicable Company Entity or any of its Affiliates, or for which the applicable Company Entity or any of its Affiliates are otherwise liable as a transferee or successor, pursuant to an express or implied obligation to indemnify any other Person, by contract or pursuant to any Applicable Law or otherwise, (ii) all Taxes relating to the Excluded Assets or Excluded Liabilities for any taxable period, (iii) all Taxes relating to the Acquired Assets or the Assumed Liabilities for any taxable period ending on or prior to the Closing Date and, with respect to any Straddle Period, for the portion of such taxable period ending on the Closing Date, as calculated in accordance with <u>Section 6.5(b)</u>, (iv) all Taxes under <u>Section 6.5(a)</u> and (v) all Taxes imposed on Buyer or any of its Affiliates as a transferee or successor of any Company Entity or any of its Affiliates.

"<u>Federal Cannabis Laws</u>" means any U.S. federal Laws, civil, criminal or otherwise, as such relate, either directly or indirectly, to the cultivation, harvesting, production, distribution, sale and possession of cannabis, marijuana or related substances or products containing or relating to the same, including, without limitation, the prohibition on drug trafficking under 21 U.S.C. § 841(a), et seq., the conspiracy statute under 18 U.S.C. § 846, the bar against aiding and abetting the conduct of an offense under 18 U.S.C. § 2, the bar against misprision of a felony (concealing another's felonious conduct) under 18 U.S.C. § 4, the bar against being an accessory after the fact to criminal conduct under 18 U.S.C. § 3, and federal money laundering statutes under 18 U.S.C. §§ 1956, 1957, and 1960 and the regulations and rules promulgated under any of the foregoing; provided, however, that Federal Cannabis Laws shall not include any Laws regarding Taxes (including Section 280(e) of the Code).

"<u>GAAP</u>" means United States generally accepted accounting principles, consistently applied throughout the periods involved.

"<u>Governmental Authority</u>" means any government or political subdivision, whether federal, state, local or foreign, or any legislative, administrative, executive or judicial branch, body, entity or forum, agency, regulatory body or authority, or instrumentality of any such government or political subdivision, or any federal, state, local or foreign court, tribunal or arbitrator.

"<u>Hazardous Substance</u>" means (a) petroleum or petroleum byproducts, per- and polyfluoroalkyl substances, asbestos or asbestos containing materials, polychlorinated biphenyls, or radioactive, flammable or explosive substances, and (b) any materials, substances, chemicals, contaminants, pollutants, pesticides, or wastes regulated or listed by, or for which liability or standards of conduct may be imposed pursuant to, any Environmental Law or Permit required thereunder.

"<u>Indebtedness</u>" means any liability of the Company Entities under or for any of the following (excluding any trade payable incurred in the Ordinary Course of Business of such Company Entity): (a) indebtedness for borrowed money, including any mortgages and substantially similar instruments or arrangements, whether or not evidenced by any note, bond or debenture or any similar instrument, and including, for the avoidance of doubt, all liabilities and obligations of such Company Entity to any Person for indebtedness for borrowed money; (b) all obligations of the Company Entities issued or assumed as the deferred purchase price of property, conditional sale obligations or under any title retention agreement; (c) all obligations and liabilities in respect of any letter of credit, bond, surety or similar obligations; (d) all liabilities and obligations of the Company Entities under any lease that is required to be treated as a capital lease under GAAP; (e) obligations under any interest rate swaps currency swaps, foreign exchange, hedging or similar instruments; (f) any amounts owed to any Person under any severance, change-of-control, retention, bonus or similar arrangements; (g) any indebtedness of the nature described in subclauses (a)-(f) above with respect to which such a Company Entity is a guarantor (excluding, for the avoidance of doubt, endorsements of negotiable instruments or guarantees of performance) or (h) interest, premium, penalty, fee, Taxes or other expense regarding any of the foregoing.

"<u>Intellectual Property</u>" means all intellectual property and proprietary rights in any applicable jurisdiction, whether registered or unregistered, including without limitation any of the following: (A) patents, patent applications of any kind, patent rights, inventions, discoveries and invention disclosures (whether or not patented) (including reissues, continuations, continuations-in-part, divisions, substitutions, provisionals, revisions, extensions, patent disclosures, and reexaminations); (B) rights in registered and unregistered trademarks, service marks, trade names, trade dress, logos, packaging designs, and slogans, together with all of the goodwill associated therewith; (C) copyrights in both published and unpublished works, and all other works of authorship, including all compilations, databases and computer programs, manuals and other documentation, all derivatives, translations, adaptations and combinations of the above, and any associated moral rights; (D) rights in know-how, trade secrets, confidential or proprietary information, research in progress, work-for-hire, algorithms, data, designs, processes, formulae, drawings, schematics, blueprints, flow charts, models, strategies, prototypes, techniques, testing procedures and testing results; (E) domain names, uniform resource locators and other names and locators associated with the internet; (F) registrations and applications to register any of the foregoing; (G) any and all other intellectual property rights and/or proprietary rights recognized by Applicable Law; and (H) all causes of action, damages, and remedies related to any of the foregoing, including damages for past, present and future infringement thereof; and (I) all copies and tangible embodiments of the foregoing (in whatever form or medium).

"<u>Intellectual Property Assignments</u>" means those certain Intellectual Property Assignments, to be dated as of the Closing Date and to be entered into by Buyer and the applicable Selling Party, in the form attached as <u>Exhibit C</u> hereto.

"<u>IRS</u>" means the Internal Revenue Service.

"<u>Knowledge of the Company Entities</u>" or "<u>the Company Entities' Knowledge</u>" or any similar knowledge qualification means the actual knowledge of Forrest Hoffmaster, Collin Lodge and Christine Jones, after reasonable due inquiry.

"<u>Leased Real Property</u>" means the real property leased, subleased or licensed by the applicable Company Entity, in each case, as tenant, subtenant, licensee or other similar party, together with, to the extent leased, licensed or owned by any Company Entity, all buildings and other structures, facilities or leasehold improvements, currently or hereafter located thereon, all fixtures, systems, equipment and items of personal property and other assets of every kind, nature and description of the applicable Company Entity located at or attached or appurtenant thereto and all easements, licenses, rights, options, privileges and appurtenances relating to any of the foregoing.

"<u>Liability</u>" means any liability, debt, obligation, deficiency, Tax, penalty, assessment, fine, order, decree, claim, charge, cause of action or other loss, fee, cost or expense of any kind or nature whatsoever, whether asserted or unasserted, absolute or contingent, known or unknown, accrued or unaccrued, liquidated or unliquidated, and whether due or to become due and regardless of when asserted.

"<u>Lien</u>" means (i) any mortgage, deed of trust, pledge, security interest, indenture, hypothecation, lien (including environmental and Tax liens), or similar charge or encumbrance of any kind (including any conditional sale or title retention agreement or lease in the nature thereof) or any agreement to file any of the foregoing, any sale of receivables with recourse against any Company Entity, and any filing or agreement to file any financing statement as debtor under the Uniform Commercial Code or any similar statute, in each case, that is imposed upon or affects an Acquired Asset, and (ii) in each case as relating to or affecting real property, adverse claims, options, rights of first refusal, easements, encroachments, servitudes, rights of way, licenses, voting agreements, or restrictions on transfer.

"<u>Liquidation Proceedings</u>" has the meaning ascribed to such term in the RSA.

"<u>Losses</u>" (collectively) or "<u>Loss</u>" (individually) means any loss, Liability, demand, claim, action, cause of action, cost, damage, deficiency, Tax, penalty, fine or expense, whether or not arising out of third party claims (including interest, penalties, attorneys', accountants' and other professionals' fees and expenses, court costs and all amounts paid in investigation, defense or settlement of any of the foregoing).

"<u>Material Adverse Effect</u>" means any event, occurrence, fact, condition or change that has, or would reasonably be expected to have, individually or in the aggregate, a material adverse effect on the assets, Liabilities, condition (financial or otherwise), business, or results of operations of the applicable Company Entity, taken as a whole; <u>provided</u>, <u>however</u>, that none of the following shall constitute a Material Adverse Effect: (i) except to the extent that such event, occurrence, fact, condition or change disproportionately affects the applicable Company Entity relative to others in the same or similar industries, any change arising from or relating to (A) changes in Applicable Laws or other requirements issued by any Governmental Authority, (B) changes in GAAP, or (C) changes in general economic or political conditions or the securities markets in general (whether as a result of acts of terrorism, war (whether or not declared), armed conflicts or otherwise); (ii) any adverse change, effect or circumstance that directly results from the announcement of the transactions contemplated by this Agreement and the other agreements contemplated hereby; (iii) any action taken (or failure to act) by the applicable Company Entity that is at the written request of the Buyer; or (iv) any failure to meet a forecast (whether internal or published) of revenue, earnings, cash flow, or other data for any period or any change in such a forecast.

"<u>Material Leases</u>" means the Leases, and all applicable Ancillary Lease Documents, for the Leased Real Property at each of the locations set forth on <u>Annex A</u>.

"<u>New First Lien Debt</u>" has the meaning ascribed to such term in the RSA.

"<u>New First Lien Debt Documents</u>" has the meaning ascribed to such term in the RSA.

"<u>New Money Financings</u>" has the meaning ascribed to such term in the RSA.

"<u>Non-Collateral Transferred Assets</u>" means all assets, properties and rights of the Company Sellers that are included in the Acquired Assets to be conveyed to Buyer under this Agreement, and either (x) <u>that</u> are not Collateral Assets securing the Senior Notes Obligations or (y) are required to be transferred directly by the applicable Company Seller rather than through the UCC sale as described in the RSA, including, without limitation, any applicable owned or leased real property, cannabis licenses or permits, contract rights, or other assets that cannot be transferred by the Collateral Agent under the UCC.<u>.</u>

"<u>Non-Transferred Collateral Assets</u>" means any Collateral Assets that are Excluded Assets.

"<u>Nuevo APA</u>" means that certain Purchase Agreement dated as of November 29, 2021, by and among Nuevo Holding, LLC (as purchaser), Nuevo Elemental Holding, LLC (as purchaser), the Company (as parent), Reynold Greenleaf & Associates, LLC (as seller), William N. Ford (as seller), Elemental Kitchen and Labs, LLC, William N. Ford, John Christopher Romero, Jacob Christopher White, GLNM, LLC, Alexandra Falter-Hahn, and Michael Grimes (as equityholders<u>equity holders</u>), and William N. Ford (as representative).

"<u>Nuevo Note</u>" means that certain Promissory Note, dated February 8, 2022, by and among certain of the Company Entities and Reynold Greenleaf & Associates, LLC, as amended by that certain First Amendment to Promissory Note dated July 3, 2024.

"<u>Ordinary Course of Business</u>" or "<u>Business in the Ordinary Course</u>" means the ordinary course of business consistent with past custom and practice (including with respect to quantity and frequency).

"<u>Outside Sale Transaction Effective Date</u>" has the meaning ascribed to such term in the RSA.

"<u>Owned IP</u>" means all Intellectual Property owned or purported to be owned by the applicable Company Entity.

"<u>Owned Real Property</u>" means those certain real properties as further described on <u>Schedule 3.10(a)</u>, together with all buildings, structures, improvements and fixtures located thereon, and all easements and other rights and interests appurtenant thereto or used in connection therewith.

"<u>Parties</u>" (collectively) or "<u>Party</u>" (individually) shall refer to the Company Entities, the Collateral Agent and the Buyer.

"<u>Permit</u>" means all permits, licenses, clearances, approvals, authorizations, registrations, certificates, concessions, grants, variances, permissions and similar rights issued by or obtained or required to be obtained, from a Governmental Authority.

"<u>Permitted Liens</u>" means, solely with respect to the condition of title on or prior to the Closing (i) Liens for Taxes, assessments and other government charges not yet due and payable or which are being contested in good faith by appropriate proceedings; (ii) mechanics', workmen's, repairmen's, warehousemen's, carriers', or other like Liens arising in the Ordinary Course of Business for amounts that are not delinquent (and, with respect to real property, are not reflected in the applicable public real property records), and in each case which do not, individually or in the aggregate, materially detract from the value of, or materially impair the use of, any of the affected assets, properties (including real properties) or rights of the Company Entities therein; (iii) Liens and defects or irregularities in title that do not, individually or in the aggregate, materially detract from the value of, or materially negatively impact or impair the occupancy or use of, any affected real property; (iv) easements, declarations, covenants, conditions, restrictions, and rights of way, in each case which do not materially impair the occupancy or use of any affected real property for the purposes for which it is currently used; (v) zoning ordinances and other similar land use regulations imposed by Governmental Authorities affecting real property; (vi) Liens which will be terminated as of the Closing; (vii) Liens approved by Buyer in writing; and (viii) those Liens described on <u>Schedule 1</u>. For the avoidance of doubt, Permitted Liens are limited to those existing prior to Closing (whether or not discharged at Closing).

"<u>Post-Closing Permitted Liens</u>" means the following Liens arising or existing after the Closing Date: (a) mechanics', workmen's, repairmen's, warehousemen's, carriers' or other like Liens arising in the ordinary course of business after the Closing Date for amounts that are not delinquent and do not, individually or in the aggregate, materially detract from the value of, or materially impair the use of, the affected assets; (b) with respect to real property, easements, covenants, conditions, restrictions, rights-of-way and zoning ordinances or other similar land-use regulations of record that do not materially interfere with the current use or value of such property; and (c) Liens granted pursuant to the New Money Financings and related security documents.

"<u>Person</u>" means any individual, partnership, limited liability company, corporation, cooperative, association, joint stock company, trust, joint venture, unincorporated organization or Governmental Authority, body or entity or any department, agency or political subdivision thereof.

"<u>Post-Closing Tax Period</u>" means any Tax period (or portion thereof) beginning after the Closing Date.

"<u>Pre-Closing Tax Period</u>" means any Tax period (or portion thereof) ending on or before the Closing Date.

"<u>Proceeding</u>" means any action, suit, or proceeding at law or in equity, arbitration, or administrative or other proceeding by or before any Governmental Authority.

"<u>Release</u>" of any Hazardous Substance includes but is not limited to any release, or the threat thereof, and any deposit, discharge, emission, leaking, leaching, spilling, seeping, migrating, injecting, pumping, pouring, emptying, escaping, dumping, disposing or other movement of Hazardous Substance into or upon or through any land or water or air, or otherwise entering into the environment, and including the abandonment or disposal of any barrels, containers or other closed receptacles containing any Hazardous Substance.

"<u>Required Consenting Senior Noteholder</u>" has the meaning ascribed to such term in the RSA.

"<u>Requisite Regulatory Approval</u>" means evidence of the approval from the applicable regulatory authorities of the transaction(s) contemplated herein pertaining to a particular state, including each locality within such state to the extent local approval is necessary, to the extent required by such governing body, and granting the required Permit (whether a transfer or an existing Permit or issuance of new Permit) in such state to Buyer or its designee allowing Buyer or its designee to cultivate, process, manufacture, distribute, sell and/or deliver cannabis products in such state and locality, as the case may be in any given state and locality.

"<u>Sale Proceeding</u>" has the meaning ascribed to such term in the RSA.

"<u>Senior Noteholders</u>" has the meaning ascribed to such term in the RSA.

"<u>Senior Notes</u>" has the meaning ascribed to such term in the RSA.

"<u>Senior Notes Collateral</u>" has the meanings ascribed to such term in the RSA.

"<u>Senior Notes Documents</u>" has the meanings ascribed to such term in the RSA.

"<u>Senior Notes Indenture</u>" has the meaning ascribed to such term in the RSA.

"<u>Senior Notes Obligations</u>" has the meaning ascribed to such term in the RSA.

"<u>Shared Contract</u>" has the meaning ascribed to such term in <u>Section 2.3</u>.

"<u>State</u>" shall mean the states where the Acquired Assets (in each case, that are tangible assets) are located and set forth on <u>Annex A</u> attached hereto.

"<u>Star Buds APAs</u>" means (i) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Colorado Health Consultants LLC (as seller), and seller's members; (ii) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Starbuds Aurora LLC (as seller), and seller's members; (iii) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), SB Arapahoe, LLC (as seller), and seller's members; (iv) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Starbuds Commerce City LLC (as seller), and seller's members; (v) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Starbuds Pueblo LLC (as seller), and seller's members; (vi) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Starbuds Alameda LLC (as seller), and seller's members; (vii) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Citi-Med LLC (as seller), and seller's members; (viii) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Starbuds Louisville LLC (as seller), and seller's members; (ix) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), KEW LLC (as seller), and seller's members; (x) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Lucky Ticket LLC (as seller), and seller's members; (xi) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Starbuds Niwot LLC (as seller), and seller's members; (xii) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), LM MJC LLC (as seller), and seller's members; and (xiii) that certain Asset Purchase Agreement dated as of June 5, 2020, by and among SBUD LLC (as buyer), the Company (as parent), Mountain View 44th LLC (as seller), and seller's members.

"<u>Star Buds Lessor Parties</u>" has the meaning ascribed to such term in the RSA.

"<u>Star Buds Leases</u>" has the meaning ascribed to such term in the RSA.

"<u>Star Buds Term Sheet</u>" has the meaning ascribed to such term in the RSA.

"<u>Subsidiary</u>" means, with respect to any Person, any and all corporations, partnerships, limited liability companies, joint ventures, associations and other entities of which more than 50% of the outstanding equity interests or other voting securities or economic interests are owned by any such Person, directly or indirectly through one or more intermediaries. For purposes hereof, a Person or Persons shall be deemed to control a partnership, limited liability company, association or other business entity if such Person or Persons (i) shall be or control the managing director or general partner of such partnership, limited liability company, association or other business entity or (ii) holds or controls at least a majority of the securities or other interests that have by their terms ordinary voting power to elect a majority of the board of directors or others performing similar functions with respect to such corporation or other organization.

"<u>Tax</u>" or "<u>Taxes</u>" means (i) any federal, state, local or local or non-U.S. income, gross receipts, capital gains, franchise, alternative or add-on minimum, estimated, sales, use, goods and services, transfer, registration, value added, excise, natural resources, severance, stamp, occupation, premium, unclaimed property or escheat (whether or not considered a tax under Applicable Laws), imputed underpayment, windfall profit, environmental, customs, duties, real property, ad valorem, special assessment, personal property, capital stock, social security, unemployment, employment, disability, payroll, license, employee or other withholding, contributions or other tax, of any kind whatsoever, whether disputed or not, imposed by any Governmental Authority, including any interest, penalties or additions to tax or additional amounts in respect of the foregoing; (ii) any Liability for the payment of any amounts of the type described in clause (i) above of another Person arising as a result of being (or ceasing to be) a member of any Affiliated Group (or being included (or required to be included) in any Tax Return relating thereto); and (iii) any Liability for the payment of any amounts of the type described in clause (i) above of another Person as a result of any transferee or secondary Liability or any Liability assumed by Contract, Applicable Law, or otherwise.

"<u>Tax Returns</u>" means returns, declarations, reports, elections, notices, claims for refund, information returns or other statements relating to Taxes (including any amendments, related or supporting schedules, attachments, statements or information and Treasury Form TD F 90-22.1 and FinCEN Form 114) filed or required to be filed, or required to be maintained, in connection with the determination, assessment or collection of Taxes or the administration of any Applicable Laws relating to any Taxes.

"<u>TLA</u>" has the meaning ascribed to such term in the RSA.

"<u>Transferred Collateral Assets</u>" means all Collateral Assets that are included in the Acquired Assets being sold, assigned, transferred, conveyed and delivered to Buyer or its designated Affiliate pursuant to the Sale Proceeding and this Agreement.

"<u>UCC</u>" means the Uniform Commercial Code.

"<u>WARN Act</u>" means the Worker Adjustment and Retraining Notification Act of 1988, as amended, and any similar state and local Applicable Law, as amended from time to time, and any regulations, rules and guidance issued pursuant thereto.

"<u>Wind Down Amount</u>" means an amount of cash necessary to fund the Company Entities' costs and expenses estimated to be incurred in connection with the Liquidation Proceedings, subject to the Wind Down Budget, in an amount not to exceed $1,000,000.

"<u>Wind Down Budget</u>" means the budget agreed between the Company and Buyer set forth on <u>Schedule 2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 <u>Other Definitions</u>.

Each of the following defined terms has the meaning given such term in the Section set forth opposite such defined term:

---

| | |
|:---|:---|
| <u>Term</u> | <u>Section</u> |
| Acquired Assets | 2.2(a) |
| Agreement | Preamble |
| Ancillary Lease Documents | 3.10(b) |
| Applicable State Cannabis Laws | 9.14 |
| Appraisals | 6.1(c)(7) |
| Assumed Contracts | 2.2(a) |
| Assumed Liabilities | 2.2(c)(1) |
| Buyer | Preamble |

---

---

| | |
|:---|:---|
| <u>Term</u> | <u>Section</u> |
| Closing | 2.5 |
| Closing Date | 2.5 |
| Collateral Agent | Preamble |
| Company | Preamble |
| Company Entities | Preamble |
| Company Non-Sellers | Preamble |
| Company Sellers | Preamble |
| Confidential Information | 6.4 |
| control | Definition of Affiliate |
| Delayed Transfer Service Provider | 6.6(b) |
| Employment Offer | 6.6(a) |
| Engagement Offer | 6.6(a) |
| Excluded Assets | 2.2(b)(16) |
| Excluded Liabilities | 2.2(c)(2) |
| Executive Employment Agreements | 7.1(b)(21) |
| Existing Events of Default | 2.2(b) |
| Excluded Real Property | 2.2(b)(14) |
| Financial Statements | 3.5(a) |
| Foreign Benefit Plan | 3.18(k) |
| Insiders | 3.23 |
| Interim Period | 6.1(a) |
| IT Systems | 3.12(b)(7) |
| Labor Agreement | 3.11(a)(4) |
| Lease Assignment | 7.1(b)(18) |
| Leases | 3.10(b) |
| License | 6.8 |
| Licensed IP | 6.8 |
| NLRB | 3.17(e) |
| Offer Contingent Worker | 6.6(a) |
| Offer | 6.6(a) |
| Offer Employee | 6.6(a) |
| Outside Date | 8.1(b)(6) |
| Owned Real Property Deliverables | 6.1(c)(7) |
| Personal Data | 3.12(b)(6) |
| Privacy Requirements | 3.12(b)(6) |
| Processing | 3.12(b)(6) |
| Property Condition Reports | 6.1(c)(6) |
| Property Taxes | 6.5(b) |
| Purchase Price | 2.4 |
| Reference Balance Sheet | 3.5(a) |
| Reference Balance Sheet Date | 3.5(a) |
| Registered IP | 3.12(a) |
| RSA | Preamble |
| Schedule Supplement | 9.17 |
| Seller Contracts | 3.11(b) |

---

---

| | |
|:---|:---|
| <u><u>Term</u></u> | <u><u>Section</u></u> |
| Seller Licenses | 3.14 |
| Selling Parties | Preamble |
| Selling Party | Preamble |
| Senior Notes Indenture | Preamble |
| Senior Notes Trustee | Preamble |
| Shared Contract | 2.3 |
| Straddle Period | 6.5(b) |
| Subcontractors | 3.22(a) |
| Surveys | 6.1(c)(2) |
| Title Company | 6.1(c)(1) |
| Title Commitments | 6.1(c)(1) |
| Title Policies | 6.1(c)(4) |
| Top Suppliers | 3.22(b) |
| Transferred Service Provider | 6.6(a) |
| Transfer Taxes | 6.5(a) |
| Zoning Reports | 6.1(c)(3) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 <u>Other Definitional Provisions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The recitals, Preamble, schedules, annexes, exhibits, and Disclosure Schedules (as well as any attachments thereto) in this Agreement are incorporated herein by reference and form an integral part hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The words "hereof", "herein", "hereto" and "hereunder" and words of similar import, when used in this Agreement, refers to this Agreement as a whole and not to any particular provision of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Unless the context shall otherwise require, all references herein to "Sections", "Articles", "Clauses", "Paragraphs" and "Schedules" are deemed references to sections, articles, clauses, paragraphs and schedules in this Agreement. The descriptive headings to "Sections", "Articles", "Clauses", "Paragraphs" and "Schedules" are inserted for convenience only, and shall have no legal effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Except when used with the word "either", the word "or" has a disjunctive and not alternative meaning (i.e., where two items or qualities are separated by the word "or", the existence of one item or quality shall not be deemed to be exclusive of the existence of the other and the word "or" shall be deemed to include the word "and").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Whenever used in this Agreement the words "include", "includes" and "including" are deemed to be followed by the phrase "without limitation".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) With respect to the determination of any period of time, "from" means "from and including" and "to" means "to but excluding".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) References to "written" or "in writing" include electronic transmissions delivered via electronic mail.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Any reference to "days" means calendar days unless Business Days are specified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The meaning assigned to each term defined in this Agreement is equally applicable to both the singular and the plural forms of such term. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. Where a word or phrase is defined in this Agreement, each of its other grammatical forms shall have a corresponding meaning.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) A reference to any Party or to any party to any contract or document includes such Person's successors and permitted assigns. A reference to a contract or document shall include all exhibits and schedules thereto and all amendments and modifications thereto in accordance with the terms thereof and hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) A reference to any Applicable Law or to any provision of any Applicable Law includes any amendment thereto, and any modification or re-enactment thereof, any Applicable Law substituted therefor and all rules and regulations issued thereunder or pursuant thereto, and with respect to all of the above, as such Applicable Law or any provision of such Applicable Law, as was in effect on the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) The Parties have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties, and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any provision of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) The words "made available" or "delivered" or any other similar phrase shall mean made available in the virtual data room, populated and maintained by the Company at Schwazze.firmex.com/projects for review by the Buyer and its Representatives before November 12, 2025 at 11:59 p.m. Eastern Time, as set forth on an electronic storage device downloaded on such date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) The terms "dollars" and "$" means United
 States of America dollars.

**<u>ARTICLE 2</u>**

<u>PURCHASE AND SALE OF ASSETS</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 <u>Background</u>. The Collateral Agent and the Company Entities hereby confirm the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Amount of Senior Note Obligations</u>. The aggregate outstanding principal amount of the obligations under the Senior Notes owed by the Company to the Senior Noteholders as of November 13, 2025 is at least $111,111,593 in outstanding principal, plus accrued but unpaid interest (including default interest, if applicable) thereon, plus all fees, costs, expenses (including attorneys', financial advisors' and other professionals' fees and expenses), charges, disbursements, indemnification and reimbursement obligations (contingent or otherwise), and all other amounts that may be due or owing under the Senior Notes Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Defaults</u>. The Company is in default under multiple provisions of the Senior Notes Documents, including, without limitation, under Section 4.05(b), Section 6.01(c), Section 6.01(d), Section 6.01(e)(i), and Section 6.01(f)(ii) of the Senior Notes Indenture (collectively, the "<u>Existing Events of Default</u>"). As a result of such continuing Existing Events of Default, the Buyer, as the designee of the Senior Noteholders, has rights under Section<u>Sections</u> 9-610 <u>and 9-617</u> of the UCC to acquire for value in a public sale all of the Collateral Agent's right, title and interest in and to the Collateral Assets in accordance with the Sale Proceeding, and the Selling Parties <u>and Collateral Agent</u> hereby consent to such Sale Proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 <u>Purchase and Sale of Assets</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Acquired Assets</u>. On the terms and subject to the conditions contained in this Agreement, including by operation of the Sale Proceeding, the RSA and Applicable Law, at the Closing, the Buyer shall purchase, acquire and accept from the Collateral Agent and/or applicable Company Sellers, and the Collateral Agent and/or such Company Sellers (on behalf of the Senior Noteholders and at the direction of the Required Consenting Senior Noteholder) shall sell, convey, assign, transfer and deliver to the Buyer, free and clear of all Liens other than Post-Closing Permitted Liens, all of the Collateral Assets and assets, properties and rights of the Company Sellers (in each case other than Excluded Assets), as the case may be, of every kind or nature, whether tangible or intangible, real, personal or mixed, wherever located, owned, leased, licensed or otherwise held by the Collateral Agent and/or Company Sellers (including indirect and other forms of beneficial ownership), which shall include for the avoidance of doubt (i) any (x) Contract listed hereto on <u>Annex A</u>, and (y) Contract exclusively related to the operation of the Business at one or more of the locations set forth on <u>Annex A</u> (including any such Contracts entered into after the date of this Agreement and in compliance with <u>Section 6.1(a)</u>) (the Contracts under this clause (i), the "<u>Assumed Contracts</u>"); provided that any such Contracts that are Shared Contracts shall be governed by <u>Section 2.3</u> and shall be treated as Acquired Assets as and to the extent provided therein, and (ii) the Collateral Assets and other assets of the Company Sellers listed hereto on <u>Annex A</u> (collectively, the "<u>Acquired Assets</u>"), and the Collateral Agent's lien and security interest on and in the Collateral Assets and any other Acquired Assets, as the case may be, will be discharged by operation of, and to the fullest extent provided in, UCC Section 9-617 and any applicable contracts or agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Excluded Assets</u>. Notwithstanding the foregoing, the following Collateral Assets and assets, properties and rights of the Company Entities are expressly excluded from the purchase and sale contemplated hereby (the "<u>Excluded Assets</u>") and, as such, are not included in the Acquired Assets to be conveyed as contemplated hereby:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Cash in an amount equal to the
 Wind Down Amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) each Contract (i) that is listed on <u>Annex B</u> (including any such Contracts that would otherwise be Shared Contracts), (ii) in respect of Indebtedness owing by any Company Entity, (iii) that is exclusively or primarily related to the operation of the Business at one or more of the locations set forth on <u>Annex B</u> or (iv) that Buyer and the Company determine in writing prior to Closing, should be an Excluded Asset;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) all personal effects set forth on <u>Annex B</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) all refunds of Taxes to the extent such Taxes being refunded were an Excluded Tax and to the extent paid or borne by a Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) all rights of each Company Entity under or arising in connection with the negotiation and drafting of this Agreement, the other agreements and instruments executed and delivered in connection with this Agreement, and the transactions contemplated hereby or thereby, including without limitation all privileges of each such Party with respect to the foregoing (e.g., the attorney-client privilege);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) all bank accounts of the Company Entities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) all shares of capital stock or other equity interests in the Company Entities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) all rights of the Company Entities with respect to refunds, credits, prepaid expenses, deferred charges, advance payments, security deposits and prepaid items that relate exclusively to Excluded Assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) all rights, causes of actions, claims and credits to the extent related to any Excluded Asset or any Excluded Liability, including all guarantees, warranties, indemnities and similar rights in favor of any Company Entity to the extent in respect of any Excluded Asset or any Excluded Liability;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) all (i) director and officer liability insurance maintained by the Company Entities, (ii) rights to insurance claims, refunds and proceeds thereunder that relate exclusively to Excluded Assets or Excluded Liabilities and (iii) other insurance policies of the Company Entities (without limitation of the Buyer's rights pursuant to <u>Section 6.3(b)</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) (i) each Company Entity's minute books, equity books and other organizational records having to do with the formation and capitalization of a Company Entity, (ii) any personnel records and other records relating to the employees of such Company Entity that such Company Entity is required by Applicable Law to retain in its possession and duplicate copies of employment records that are turned over, and (iii) Tax Returns of such Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) all Employee Benefit Plans and all assets attributable thereto including any assets held by or on behalf of the Company Entities in trust, reserve or otherwise in respect of Employee Benefit Plans;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) the obligations in relation to the portions of Shared Contracts to be retained by the Company Sellers (or for which the Company Sellers are otherwise responsible) pursuant to <u>Section 2.3;</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) the real property, leasehold interests and related improvements listed on <u>Annex B</u> (the "<u>Excluded Real Property</u>"), together with all furniture, fixtures and equipment located thereon or therein, except that Buyer may, by written notice to the Company prior to the Closing, elect to acquire any such items of furniture, fixtures or equipment the Company Sellers have in their possession, which shall be conveyed at no additional cost to Buyer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) any assets, properties or rights of any Company Non-Seller or otherwise subject to Liens imposed pursuant to the Altmore Loan Agreement Documents (and all claims, causes of action, and proceeds arising therefrom); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16) all other assets identified as "<u>Excluded Assets</u>" on <u>Annex B</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Assumption and Exclusion of Liabilities</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) <u>Assumed Liabilities</u>. On the terms and subject to the conditions set forth in this Agreement, the Buyer shall assume and shall agree to pay, defend, discharge and perform as and when due and performable for only the Liabilities of the Company Sellers identified on <u>Annex C</u> (the "<u>Assumed Liabilities</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) <u>Excluded Liabilities</u>. Notwithstanding anything to the contrary contained in this Agreement, the Buyer will not assume, and the applicable Company Entities will pay, defend, discharge and perform, as when due and performable, and otherwise retain and remain solely responsible for, any and all Liabilities that are not expressly included in the Assumed Liabilities (such excluded Liabilities, the "<u>Excluded Liabilities</u>"). For the avoidance of doubt and without limiting the foregoing, (i) the Liabilities listed on <u>Annex D</u>, (ii) the Excluded Taxes, (iii) the Employee Liabilities, (iv) any Indebtedness of any Company Entities, (v) the portion of Liabilities related to or arising under the Shared Contracts to be retained by the Company Entities pursuant to <u>Section 2.3</u>, (vi) any Liabilities of any Company Non-Sellers, (vii) any Liabilities arising out of or relating to the Altmore Loan Agreement Documents or the Altmore Claims, and (viii) any Liabilities arising out of or relating to the Nuevo APA and Nuevo Note, Everest APA and Everest Note, Akimbo APA or under the Star Buds APAs are expressly Excluded Liabilities and, as such, are not included in the Liabilities to be conveyed as contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Assignment of Contracts and Rights</u>. Notwithstanding anything to the contrary contained in this Agreement, this Agreement shall not constitute an agreement to assign any Contract if an attempted assignment thereof, without consent of a third party thereto, would constitute a breach or other contravention thereof or in any way adversely affect the rights of the Buyer or the applicable Company Seller thereunder. In the event that the Closing proceeds without the assignment of such Contract, then (i) such asset shall be regarded as an Acquired Asset for purposes of determining the Purchase Price and (ii) following the Closing, the applicable Company Seller will use commercially reasonable efforts to obtain the consent of the other parties to any such Contract for the assignment thereof to the Buyer, but in no event shall any Party or any of their respective Affiliates be required to pay any consideration, incur any Liabilities, commence or become involved with any litigation or offer or grant any accommodation (financial or otherwise) to any other Person in connection with the Parties' efforts to obtain such consent. Unless and until such consent is obtained, or if an attempted assignment thereof would be ineffective or would adversely affect the rights of the Buyer or the applicable Company Seller thereunder so that the Buyer would not in fact receive all rights under such Contract, the applicable Company Seller and the Buyer will cooperate in an arrangement under which the Buyer would obtain the benefits and assume the obligations thereunder to the extent they are Assumed Liabilities in accordance with this Agreement, including subcontracting, sub-licensing, or subleasing to the Buyer (if possible), or under which the applicable Company Seller would enforce, for the benefit of the Buyer, any and all rights of such Company Seller against a third party thereto. The applicable Company Seller will promptly pay to the Buyer when received all monies received by such Company Seller under any such Contracts, and the Buyer shall pay, defend, discharge and perform all Liabilities to the extent they are Assumed Liabilities under such Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 <u>Shared Contracts</u>. Any Contract to be assigned, transferred and conveyed that is set forth on <u>Schedule 2.3</u> (each, a "<u>Shared Contract</u>") shall, unless Buyer and the Company otherwise agree, be treated in accordance with this <u>Section 2.3</u>. Subject to obtaining any necessary consent for such assignment, Buyer shall be assigned, transferred and conveyed all such Shared Contracts; provided, that, as between Buyer and the Company Sellers, (x) Buyer shall be responsible for performing under such Shared Contracts with respect to (and preserving the meaning of) those parts that are related to the Business at one or more of the locations set forth on <u>Annex A</u>, and (y) the applicable Company Sellers shall be responsible for performing under such Shared Contracts with respect to (and preserving the meaning of) all other parts of such Shared Contracts for which the applicable Company Sellers were so responsible prior to such assignment; provided that (i) in no event shall any Person be required to assign (or amend), either in its entirety or in part, any Shared Contract that is not assignable (or cannot be amended) by its terms without obtaining any required third party consents or approvals and (ii) if any Shared Contract cannot be so assigned by its terms or otherwise, or cannot be amended, without such third party consents or approvals, until such time as such consents or approvals are obtained, then the Company Sellers and the Buyer will cooperate to establish an agency type or other similar arrangement reasonably satisfactory to the Buyer intended to both (x)(1) provide Buyer, to the fullest extent practicable under such Shared Contract, the claims, rights and benefits of those parts that are related to the Business at one or more of the locations set forth on <u>Annex A</u> and (2) provide the Company Sellers with the claims, rights and benefits of those other portions of such Shared Contract and (y)(1) to the extent constituting Assumed Liabilities, cause Buyer to bear the costs and Liabilities thereunder to the extent related to the Business at one or more of the locations set forth on <u>Annex A</u>, and (2) cause the applicable Company Sellers to bear the other costs and Liabilities thereunder, in each case of clauses (x) and (y), in accordance with this Agreement (in each case, including by means of any contract manufacturing, co-packing, subcontracting, sublicensing or subleasing arrangement). In furtherance of the foregoing, (1) Buyer will promptly pay, perform or discharge when due any Assumed Liability arising thereunder to the extent related to the Business at one or more of the locations set forth on <u>Annex A</u> and the applicable Company Entity will promptly pay, transfer or convey all rights and benefits in respect of the Acquired Assets arising thereunder and (2) each applicable Company Seller will promptly pay, perform or discharge when due any other Liability arising thereunder. Each of Buyer and the applicable Company Seller will, and will cause its Affiliates to, use commercially reasonable efforts to enforce (at such other Party's direction) the rights granted to the other Party (at the other Party's reasonable expense) under this <u>Section 2.3</u>. Notwithstanding anything contained herein to the contrary, any transfer or assignment to Buyer of any Acquired Asset that shall require a consent or approval as described above in <u>Section 2.2(d)</u> shall be made subject to such consent or approval being obtained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 <u>Purchase Price; Allocation of Purchase Price</u>. The Buyer has <u>hereby</u> agreed to purchase the Acquired Assets <u>at and conditioned on the Closing</u> through the Sale Proceeding at the direction of the Required Consenting Senior Noteholder and by the terms hereof the Selling Parties <u>and Collateral Agent</u>, each acting in its respective capacity (the Collateral Agent, solely in its secured-party capacity under the Senior Notes Indenture, and the Company Sellers, as record owners), shall <u>at the Closing</u> convey the Acquired Assets to the Buyer in exchange <u>for</u> (i) a credit bid of the Senior Notes Obligations in an amount equal to the Credit Bid Amount, in full and final satisfaction of the Senior Notes Obligations, and (ii) the assumption only of the Assumed Liabilities set forth on <u>Annex C</u> (the "<u>Purchase Price</u>"). The Parties acknowledge and agree that (a) the disposition of the Collateral Assets hereunder constitutes a public sale of collateral conducted in a commercially reasonable manner under Article 9 of the UCC, and (b) the credit-bid of the Senior Notes Obligations constitutes "value" for purposes of Section 9-627(b) of the UCC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 <u>Closing</u>. Subject to the terms and conditions of this Agreement, the Closing shall take place at the offices of Polsinelli PC, 1401 Lawrence Street, Suite 2300, Denver, CO 80202, 10:00 a.m., Eastern Time, on the third (3) Business Day after all conditions to the Closing set forth in <u>Article 7</u> (other than those conditions that are to be satisfied by actions taken at the Closing, but subject to the satisfaction or waiver of such conditions at the Closing) have been satisfied or (to the extent permitted by Applicable Law) waived by the applicable Party entitled to the benefit thereof, including the Requisite Regulatory Approvals, or such other place or at such other time or on such other date as may be mutually agreed by the Buyer and the Collateral Agent. The date of the Closing is herein referred to as the "<u>Closing Date</u>." For accounting purposes, all transactions shall be deemed to occur at 12:01 a.m., Eastern Time on the Closing Date, and the Closing shall be effective as of 12:01 a.m., Eastern Time on the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 <u>Commercial Reasonableness</u>. The Parties acknowledge that the UCC sale constitutes a public disposition of collateral conducted in a commercially reasonable manner under Article 9 of the UCC, and waive any right to challenge the commercial reasonableness thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7 <u>Withholding</u>. The Buyer and its Affiliates, representatives and agents shall be entitled to deduct and withhold from any payments made pursuant to this Agreement any amounts required to be deducted or withheld from such payment(s) under any federal, state, local or foreign Applicable Law. In the event any such amounts are so deducted or withheld, the amount deducted or withheld shall be treated as having been paid to the Person in respect of which such amounts would otherwise have been paid for purposes of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8 <u>Transition Services</u>. If requested by either Buyer or the Company in the period prior to the Closing Date, Buyer and the Company may, but are not obligated to, negotiate any transition services and if agreed upon in writing, may enter into an amendment to this Agreement or a separate agreement governing the same.

**<u>ARTICLE 3</u>**

**<u>REPRESENTATIONS AND WARRANTIES CONCERNING THE COMPANY ENTITIES</u>**

Notwithstanding anything to the contrary provided in this Agreement, all representations, warranties and disclosures of the Parties in this <u>Article 3</u>, <u>Article 4</u> and <u>Article 5</u> are being made with exception to and not with respect to Federal Cannabis Laws. For purposes of this <u>Article 3</u>, each Company Entity is making these representations and warranties on behalf of itself and each of its Subsidiaries. As a material inducement to the Buyer entering into this Agreement, the Company Entities, jointly and severally, hereby represent and warrant to the Buyer that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 <u>Organization and Power</u>. Each Company Entity is a legal entity duly organized, validly existing, and in good standing (where such concept is applicable) under the laws of the jurisdiction of its organization. Each Company Entity is duly licensed or qualified to conduct business and is in good standing (where such concept is applicable) under the laws of each jurisdiction in which the character of the assets owned or leased, or the nature of the business conducted, by each of them requires such licensing or qualification, except where the failure to be so licensed or qualified or to be in good standing would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. All jurisdictions in which a Company Entity is qualified to do business are set forth on <u>Schedule 3.1</u>. Each Company Entity has full power and authority to own and operate its properties and to carry on its business as now conducted and currently proposed to be conducted. The Company Entities have delivered or made available to the Buyer correct and complete copies of the certificate of formation and operating agreement (or comparable organizational documents) of each Company Entity (as amended to date). Each Company Entity is not and has not been in default under or in violation of any provision of its certificate or such organizational documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 <u>Authorization of Transactions; Valid and Binding Agreement</u>. Each Company Entity has full power and authority to execute and deliver this Agreement and each of the Ancillary Agreements to which it is or will be a party and to consummate the transactions contemplated hereunder and thereunder and to perform its obligations hereunder and thereunder. The execution of this Agreement and all Ancillary Agreements to which any Company Entity is or will be a party, and the consummation of the transactions contemplated hereby and thereby, have been authorized by all necessary actions of each Company Entity. This Agreement and the Ancillary Agreements to which any Company Entity is or will be a party have been (or will be) duly executed and delivered by such Company Entity, and, assuming the valid execution and delivery by the Buyer, this Agreement and the Ancillary Agreements to which any such Company Entity is or will be a party constitute or will constitute when executed valid and binding obligations of such Company Entity, enforceable against such Company Entity in accordance with their respective terms, subject to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors' rights and to general principles of equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 <u>Non-Contravention</u>. Except as set forth on <u>Schedule 3.3</u>, the execution, delivery and performance by the Company Entities of this Agreement and all agreements, documents and instruments executed and delivered by the Company Entities pursuant hereto (including the Ancillary Agreements to which it is or will be a party) and the performance of the transactions contemplated by this Agreement and such other agreements, documents and instruments do not and will not: (i) violate or result in a violation of, conflict with or constitute or result in a default (whether after the giving of notice, lapse of time or both) under, accelerate any obligation under, or give rise to a right of termination of, any Contract, Permit or authorization to which any of the Company Entities are a party or by which it or any of the applicable Company Entity's assets are bound, (ii) violate or result in a violation of, conflict with or constitute or result in a default (whether after the giving of notice, lapse of time or both) under, or accelerate any obligation under, any provision of the applicable Company Entity's organizational documents; (iii) violate or result in a violation of, or constitute a default (whether after the giving of notice, lapse of time or both) under, any provision of any Applicable Law, or any order of, or any restriction imposed by, any court or Governmental Authority applicable to any of the Company Entities; or (iv) require from any Company Entity any notice to, declaration or filing with, or consent or approval of, any Governmental Authority or other third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 <u>[Reserved]</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 <u>Financial Statements; Indebtedness</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Schedule 3.5(a)</u> sets forth true and complete copies of: (i) the audited balance sheets and statements of operations and cash flows as of and for the Company Entities for the fiscal year ended December 31, 2023, (ii) the unaudited balance sheets and statements of operations and cash flows as of and for the Company Entities for the fiscal year ended December 31, 2024; and (iii) an unaudited balance sheet and statement of operations and cash flows for the Company Entities as of and for the nine (9) month period ended September 30, 2025 (the "<u>Reference Balance Sheet</u>" and such date, the "<u>Reference Balance Sheet Date</u>"). Each of the foregoing financial statements (the "<u>Financial Statements</u>") has been prepared from and is consistent in all material respects with the books and records of the Company Entities (which, in turn, are accurate and complete in all material respects), and such Financial Statements present fairly, in all material respects, in conformity with GAAP (other than as set forth therein or on <u>Schedule 3.5(a)</u>), the financial condition, results of operations and cash flows of each Company Entity as of and for the periods referred to therein. The Company Entities maintain and have maintained a system of internal controls that is sufficient to provide reasonable assurance that: (i) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP, (ii) receipts and expenditures are executed only in accordance with the authorization of management and (iii) accounts, notes and other receivables and inventory are recorded accurately in all material respects, and proper and adequate procedures are implemented to effect the collection thereof on a current and timely basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except for Indebtedness listed on <u>Schedule 3.5(b)</u>, the Company Entities have no Indebtedness outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6 <u>Absence of Undisclosed Liabilities</u>. The Company Entities do not have any Liabilities except for (i) Liabilities set forth on and fully reflected or reserved on the face of the Reference Balance Sheet (rather than in any notes thereto), (ii) Liabilities that have arisen in the Ordinary Course of Business since the Reference Balance Sheet Date and (iii) Liabilities set forth on <u>Schedule 3.6</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7 <u>Accounts Receivable</u>. All of the accounts receivable of each Company Entity arose out of bona fide, arms' length transactions for the sale of goods or performance of services, are valid and enforceable claims, except as such enforceability may be subject to applicable bankruptcy, reorganization, insolvency, moratorium and similar Applicable Laws affecting the enforcement of creditors' rights generally, and by general principles of equity, and are not subject to set-off or counterclaim. Except as set forth on <u>Schedule 3.7</u>, (i) for the past three (3) years, each Company Entity has collected its accounts receivable in the Ordinary Course of Business and in a manner which is consistent with past practices, (ii) all accounts receivable are good and collectible within the Ordinary Course of Business, (iii) each Company Entity's accounts receivable balance does not include any customer deposits that are older than five (5) years and (iv) no accounts receivables are subject to any setoff or counterclaim, discounts or warranty claims.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8 <u>Absence of Changes</u>. Except as set forth on <u>Schedule 3.8</u> and as expressly contemplated by this Agreement, since the Reference Balance Sheet Date, each Company Entity has conducted its business only in the Ordinary Course of Business, and there has not been any Material Adverse Effect. Without limiting the foregoing, since the Reference Balance Sheet Date, except as set forth on <u>Schedule 3.8</u>, such Company Entity has not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) suffered any theft, damage, destruction or casualty loss (without regard to any insurance) of or to any tangible asset or assets having a value in excess of $75,000 in the aggregate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) borrowed an amount or incurred or become subject to any Indebtedness (including contingently as a guarantor or otherwise);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) incurred any Liabilities in excess of $75,000, except current liabilities incurred in the Ordinary Course of Business and not constituting Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) issued, sold, redeemed or repurchased, directly or indirectly, any of its equity interests or any securities convertible into, or options with respect to, warrants to purchase, or rights to subscribe for, any equity interests of such Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) entered into any Seller Contract or amended or terminated such Company Entity's rights thereunder (other than a termination of a Seller Contract as a result of the expiration of the term of such Seller Contract), other than in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) (i) granted any bonus or any wage, salary or compensation increase to, or made any other material change in employment terms (or terms of engagement or service relationship) of or for, any Business Employee or Business Contingent Worker other than annual increases made in the Ordinary Course of Business with respect to any Person whose annual compensation opportunities are less than $100,000; (ii) increased or accelerated the funding, payment, or vesting of any compensation or benefits provided under any Employee Benefit Plan or any other benefit or compensation plan, policy, program, contract, agreement or arrangement; or (iii) established, adopted, amended or terminated any Employee Benefit Plan or any other benefit or compensation plan, policy, program, contract, agreement or arrangement that would be an Employee Benefit Plan if in effect as of the date thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) made any material change in its business practices, including, without limitation, any change in accounting methods or practices or collection, credit, pricing, rebate, discount or payment policies of such Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) made any loans or advances to, or guarantees for the benefit of, any Persons;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) changed or authorized any change in its certificate of formation, operating agreement or other governing or organizational documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) instituted or settled any claim or lawsuit that involved stated claims of more than $25,000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) acquired any other business or Person (or any significant portion or division thereof), whether by merger, consolidation or reorganization or by purchase of its assets or stock or acquired any other material assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) (i) made or changed any Tax election, (ii) changed any Tax accounting period, (iii) adopted or changed any method of Tax accounting, (iv) filed any amended Tax Return, (v) entered into any closing agreement with respect to Taxes, (vi) settled any Tax claim or assessment, (vii) surrendered any right to claim a Tax refund, or (viii) consented to any extension or waiver of the limitations period applicable to any Tax claim or assessment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) terminated or failed to maintain any insurance policy covering the applicable Company Entity's tangible assets or real property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) experienced any material change in its relationships with its material subcontractors, material suppliers, consumer financing providers, or Governmental Authorities that is adverse to such Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) entered into any employment agreement or arrangement with any Business Employee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) entered into any consulting, independent contractor or similar agreement with any Business Contingent Worker;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) become legally committed to any new capital expenditures required to be made following the Closing in excess of $100,000 in the aggregate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) terminated any employee or Contingent Worker other than in the Ordinary Course of Business with respect to any Person whose annual compensation opportunities are less than $100,000, or had any such Person resign;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) abandoned, dedicated to the public, allowed to lapse, cancelled, or allowed any other waiver or termination of any rights with or in any Owned IP, disclosed any Confidential Information of such Company Entity to any Person (excluding Persons under any agreement or obligation of confidentiality), or licensed to any Person any Owned IP (other than non-exclusive licenses granted in the Ordinary Course of Business);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) failed to maintain or timely renew, or allowed to lapse, any Seller License, or otherwise agreed to any penalties or changes affecting such Seller License; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) committed or agreed, in writing or otherwise, to any of the foregoing, except as expressly contemplated by this Agreement and the Ancillary Agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9 <u>Title to Personal Property; Sufficiency of Assets</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as set forth on <u>Schedule 3.9(a)</u>, the Company Entities have good and marketable title to, or a valid leasehold interest in, free and clear of all Liens (other than Permitted Liens), all of the personal property and assets included in the Acquired Assets. All of the tangible personal property and assets included in the Acquired Assets (i) have been properly maintained in the Ordinary Course of Business and pursuant to good industry practice, (ii) are in good condition and working order and repair (ordinary wear and tear excepted) and (iii) are suitable and sufficient for the purposes for which they are used.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as set forth on <u>Schedule 3.9(b)</u>, the Acquired Assets constitute all of the assets used by the Company Entities in operating the Business in the manner presently operated by the Company Entities. Except as set forth on <u>Schedule 3.9(b)</u>, the Acquired Assets are sufficient for the Buyer and its Affiliates to operate the Business after the Closing in substantially the same manner as operated by the Company Entities prior to the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 <u>Real Property</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Schedule 3.10(a)</u> identifies the street address and owner of record of each Owned Real Property. With respect to each Owned Real Property: (i) the applicable Company Entity has good and marketable indefeasible fee simple title to such Owned Real Property, free and clear of all Liens, except Permitted Liens; (ii) except as set forth on <u>Schedule 3.10(a)(ii)</u>, the applicable Company Entity has not leased or otherwise granted to any Person the right to use or occupy such Owned Real Property or any portion thereof; (iii) other than the right of Buyer pursuant to this Agreement, there are no outstanding options, rights of first offer or rights of first refusal to purchase such Owned Real Property or any portion thereof or interest therein; (iv) the applicable Company Entity is not a party to any agreement or option to purchase any real property or interest therein; (v) all buildings, structures, improvements, fixtures, building systems and equipment, and all components thereof, included in the Owned Real Property are in good condition and repair, reasonable wear and tear excepted, and sufficient for the operation of the Business; (vi) there is no condemnation, expropriation or other proceeding in eminent domain pending or, to the applicable Company Entity's Knowledge, threatened, affecting the Owned Real Property or any portion thereof or interest therein; (vii) the Owned Real Property is not located in an area designated by the Federal Emergency Management Agency as having special flood hazards; (viii) all of the utilities for the Owned Real Property are current and not in arrears; (ix) each parcel of Owned Real Property, and the applicable Company Entity's ownership, use, and possession thereof, are in compliance in all material respects with all Applicable Laws; (x) except as set forth on <u>Schedule 3.10(a)(x)</u> to the applicable Company Entity's Knowledge, there are no unrecorded mechanics', workmens', repairmen's, warehousemen's, carriers', or other like Liens affecting the Owned Real Property; and (xi) no Company Entity is a party to any, and, to the Knowledge of each Company Entity, there are no, unrecorded easements, declarations, covenants, conditions, restrictions, and rights of way affecting the Owned Real Property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Schedule 3.10(b)</u> identifies (i) the street address, landlord, and tenant of each parcel of Leased Real Property, and (ii) the identification of the lease, license, sublease or other occupancy agreements and all amendments, modifications, supplements, and assignments thereto, with respect to each parcel of Leased Real Property (collectively, the "<u>Leases</u>"), and the identification of all subleases, overleases, occupancy agreements and other ancillary agreements or material documents pertaining to each Company Entity's tenancy at each such parcel of Leased Real Property, including, without limitation, all memoranda of lease, consents, commencement date letters, letters of extensions, subordination, non-disturbance and attornment agreements, or correspondence that materially affect or may materially affect the tenancy at any Leased Real Property (collectively the "<u>Ancillary Lease Documents</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Material Leases and the Ancillary Lease Documents are valid, binding, enforceable, subject to applicable bankruptcy, insolvency, reorganization, receivership, moratorium, arrangement or assignment for the benefit of creditors, or similar state or federal laws and judicially developed doctrines relevant to any such laws, affecting the rights and remedies of creditors generally, and general principles of equity and in full force and effect and have not been modified or amended except as disclosed on <u>Schedule 3.10(c)</u>. The Leases and the Ancillary Lease Documents constitute all of and the only agreements under which the Company Entities hold leasehold, subleasehold, license, or other occupancy interests or rights in any real property. The Company Entities have made available to the Buyer full, complete and accurate copies of each of the Leases and all Ancillary Lease Documents described in <u>Schedule 3.10(b)</u>, as well as any and all exhibits, addenda, riders, estoppel certificates and other documents constituting a part of or relating to the Leases.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) With respect to each of the Material Leases identified on <u>Schedule 3.10(b)</u>, except as set forth on <u>Schedule 3.10(d)</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the Material Leases and all Ancillary Lease Documents are legal, valid, binding, enforceable and in full force and effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the Material Leases and all Ancillary Lease Documents are free and clear of all Liens (other than Permitted Liens);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) neither the Company Entities, nor, to the Knowledge of the Company Entities, any other party to any Material Leases or Ancillary Lease Documents are in material breach or default, and, no event has occurred which, with notice or lapse of time, would constitute such a material breach or default or permit termination, modification or acceleration under the Material Leases or any Ancillary Lease Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) the rent set forth in each Material Lease of the Leased Real Property is the actual rent being paid, and there are no separate agreements or understandings with respect to the same;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) the applicable Company Entity's possession and quiet enjoyment of the Leased Real Property under such Material Lease has not been disturbed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) there are no material disputes with respect thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) except as set forth in any amendment, modification, or supplement identified in <u>Schedule 3.10(b)</u>, the Company Entities have not exercised or given any notice of exercise, nor has any Company Entity received from any lessor or landlord exercised or received any notice of exercise, of any option, right of first offer or right of first refusal contained in any such Material Lease or Ancillary Lease Document, including any such option or right pertaining to purchase, expansion, renewal, extension or relocation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) the transactions contemplated by this Agreement (i) do not require any consent of or notice to the landlord under each Material Lease or any other Person, except as set forth on <u>Schedule 3.10(d)</u> and (ii) will not cause a breach or default under the terms of any of the Leases.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) During the past three (3) years, no Company Entity has received written notice from any insurance company that such insurance company will require any material alteration to any Leased Real Property for continuance of a policy insuring such property or the maintenance of any rate with respect thereto (other than any notice of alteration that has been completed), to the extent that such alteration is the responsibility of any such Company Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) No security deposit or portion thereof deposited with respect to any of the Material Leases has been applied in respect of a breach or default under such Material Lease which has not been redeposited in full.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Except as set forth on <u>Schedule 3.10(h)</u>, all rent and other charges currently due and payable under the Material Leases have been paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Except as set forth on <u>Schedule 3.10(i)</u>, to each applicable Company Entity's Knowledge: (i) there are no material defects in the physical or structural condition of the premises leased under the Material Leases; (ii) there are no material items of maintenance or repair with respect to which such Company Entity is responsible under any Material Lease; (iii) the applicable Company Entity's occupancy, use and operation of the Leased Real Property pertaining to a Material Lease, complies in all material respects with all Applicable Laws; and (iv) such Company Entity has not received written notice of any pending or, threatened, or existing appropriation, condemnation, eminent domain or like proceedings relating to the Leased Real Property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) During the preceding three (3) years, none of the Leased Real Property has suffered any material damage by fire or other casualty which has not heretofore been repaired and restored in all material respects, except for damage that would not individually or in the aggregate, materially impair the conduct of the Business of the applicable Company Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Except as set forth on <u>Schedule 3.10(j)</u>, no Company Entity owes, or will owe in the future, any brokerage commissions or finder's fees with respect to any Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Except as set forth on <u>Schedule 3.10(k)</u>, no Company Entity has leased, licensed, or otherwise granted to any Person, the right to use or occupy the Leased Real Property pertaining to a Material Lease, or any portion thereof, or, subleased, assigned, collaterally assigned, mortgaged, deeded in trust, or otherwise transferred or encumbered any Material Lease or interest therein relating to the Leased Real Property. No Company Entity has entered into any other contract for the assignment or other transfer of the Leased Real Property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.11 <u>Contracts and Commitments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as specifically contemplated by this Agreement or as set forth on <u>Schedule 3.11(a)</u>, no Company Entity is a party to or bound by any:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Contract for the purchase or sale of goods or services, whether by or from any Company Entity, for aggregate consideration in excess of $50,000 for the twelve (12) month period following the date of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Except as disclosed pursuant to clause (1) above, Contract involving a potential commitment or payment by a Company Entity in excess of $50,000 or more within the twelve (12) month period following the date hereof and that is not cancelable without Liability on thirty (30) or fewer days' notice to the other party thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) employment, independent contractor, or consulting, deferred compensation, severance, or bonus Contract with any Business Employee, former employee, Business Contingent Worker or former Contingent Worker that (i) provides for (A) annual cash compensation opportunities that exceed $100,000 in the aggregate, (B) payment of any severance benefits, (C) change-of-control, retention or other payments or benefits that will be triggered solely by the consummation of the transactions contemplated herein or (D) any right to be issued, or to purchase, equity (or any award or compensation denominated in equity) of any Company Entity or (ii) cannot be terminated upon less than 60 days' notice without payment, Liability, or obligation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) collective bargaining agreement or other labor-related Contract with an Employee Representative Body (each, a "<u>Labor Agreement</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Contract relating to Indebtedness (including guaranty arrangements) or to mortgaging, pledging or otherwise placing a Lien on any of its assets, or any guaranty of an obligation of a third party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) Contract under which a Company Entity is lessee of, or holds or operates, any property, real or personal (including the Leases), owned by any other party calling for payments in excess of $50,000 annually or under which it is lessor of or permits any third party to hold or operate any property, real or personal, owned or controlled by a Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) Contract relating to the ownership of or investment in any business or enterprise (including investments in joint ventures and minority equity investments);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) Contract limiting the freedom of a Company Entity, or that would limit the freedom of Buyer or any of its Affiliates after the Closing Date, to freely engage in any line of business or with any Person anywhere in the world or during any period of time, including, without limitation, any Contract containing an exclusivity obligation, most-favored-nation provision or "best price" obligation enforceable against a Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) Contract for the license of any Intellectual Property, whether licensed out by any Company Entity to any other Person or licensed in to any of a Company Entity by any other Person (excluding any (A) "off-the-shelf" or other software that is readily available pursuant to a standard "shrink-wrap" or other similar license agreement and has a purchase price or annual license fee of less than $10,000; (B) non-exclusive licenses granted in the Ordinary Course of Business to or from any customer; and (C) open source licenses);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) Contract which contains a non-competition, non-solicitation or other restrictive covenant applicable to any counterparty to such agreement (other than confidentiality agreements entered into in the Ordinary Course of Business);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) Contract relating to the distribution, marketing, advertising, sponsorship or sales of a Company Entity's products and/or services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) Contract under which a Company Entity has advanced or loaned any other Person any amount that remains outstanding in excess of $25,000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) Contract evidencing any settlement within the past three (3) years of any Proceeding or dispute that is material to any Company Entity, taken as a whole;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) Contract with any Subcontractor of a Company Entity, excluding purchase orders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) Contract with any supplier of a Company Entity, excluding purchase orders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16) Contract with any Governmental Authority;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17) Contract which contains any provisions requiring a Company Entity to indemnify any other party, other than (i) commercial contracts entered into in the Ordinary Course of Business, (ii) indemnity obligations in organizational documents of a Company Entity or (iii) indemnity obligations to an employee which obligations would not be included in the Assumed Liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18) Contract with retailers or otherwise which provides a Company Entity with the ability to market and generate leads at that particular venue;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19) Contract that relates to the sale of a Company Entity's material assets in excess of $25,000, other than in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20) power of attorney;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21) any Shared Contract; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22) Contract relating to the acquisition or disposition of the business of any Company Entity (whether by merger, sale of stock, sale of assets, or otherwise).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Contracts required to be disclosed on <u>Schedule 3.11(a)</u> are referred to herein as the "<u>Seller Contracts</u>". The Company Entities have delivered or made available to the Buyer true and correct copies of each Seller Contract, together with all amendments, waivers and other changes thereto. Except as disclosed on <u>Schedule 3.11(b)</u>, (i) no Seller Contract has been canceled or, to the applicable Company Entity's Knowledge, materially breached by the other party, and the applicable Company Entity has no Knowledge of any planned material breach by any other party to any Seller Contract, (ii) no Company Entity is in material default under or in material breach of any Seller Contract, and no event or condition has occurred or arisen which with the passage of time or the giving of notice or both would result in a material default or breach thereunder, and (iii) each Seller Contract is legal, valid, binding, enforceable and in full force and effect, subject to applicable bankruptcy, insolvency, reorganization, receivership, moratorium, arrangement or assignment for the benefit of creditors, or similar state or federal laws and judicially developed doctrines relevant to any such laws, affecting the rights and remedies of creditors generally, and general principles of equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12 <u>Intellectual Property</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Schedule 3.12(a)</u> contains a complete and accurate list of all registered and pending applications of Owned IP ("<u>Registered IP</u>"), in each case listing the (i) name of the applicant/registrant or current owner, (ii) jurisdiction where the application or registration has been filed, (iii) application or registration number, and (iv) current status. The Registered IP (other than unregistered trademarks) is registered or applied for, as applicable, in the name of the applicable Company Entity and is in compliance with all formal legal requirements. To the applicable Company Entity's Knowledge, the Registered IP and all Intellectual Property exclusively licensed to such Company Entity is valid and enforceable and in full force and effect. Except as set forth on <u>Schedule 3.12(b)</u>, no Registered IP is subject to any challenge or proceeding in which the ownership, scope, validity or enforceability is being contested or challenged (including any cancellation, opposition, interference, inter partes review, or reexamination proceedings). No loss or expiration of any of Registered IP is pending, or, to the applicable Company Entity's Knowledge, threatened. The Owned IP and all other Intellectual Property that is necessary for, or used or held for use in, the operation of the business, as now conducted or as presently proposed to be conducted as documented in written business plans adopted or approved by the governing body of the applicable Company Entity is either (a) exclusively owned by such Company Entity, free and clear of all Liens, or (b) validly licensed to such Company Entity pursuant to a written license agreement, from a third Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as set forth on <u>Schedule 3.12(b)</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) (A) No Company Entity has received in the three (3) years prior to the date hereof any written notices of, nor are there any claims pending or, to any Company Entity's Knowledge, threatened, alleging the infringement, misappropriation, or other violation of rights in Intellectual Property of any other Person with respect to any activity of such Company Entity, including the operation of the Business and the use by such Company Entity of any Intellectual Property; and (B) to any Company Entity's Knowledge, no third party is infringing, misappropriating or otherwise violating any Owned IP, and in the three (3) years prior to the date hereof, no such claims have been brought or threatened in writing against any Person by or on behalf of such Company Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The activities of the Company Entities and the conduct of the business of the Company Entities have not, in the three (3) years prior to the date hereof, and do not infringe, constitute an unauthorized use of, misappropriate, dilute or otherwise violate any Intellectual Property of any Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Each Company Entity has obtained and possess valid licenses to use all of the software programs present on the computers and other software-enabled electronic devices that it owns or leases or that it has otherwise provided to its employees and other personnel for their use in connection with the business of such Company Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The Company Entities have taken reasonable measures consistent with normal industry practices to protect, maintain and enforce the Company Entities' rights in and the confidentiality and value of all trade secrets and other confidential information that the Company Entities own or use in the operation of its business, and, to the Company Entities' Knowledge, there have been no unauthorized uses or disclosures of any such trade secrets or confidential information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) The Company Entities do not (A) own or license any software that is material to the operation of the Business of any of the Company Entities, or (B) develop, distribute, maintain, sell, license out, or make commercially available any software products or services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) The Company Entities are and at all times have been in material compliance with all (A) Applicable Laws and with all of its internal and posted policies and procedures that relate to or govern the collection, storage, transfer (including, without limitation, any transfer across national borders) and/or use ("<u>Processing</u>") of any personally identifiable information from any individuals, including, without limitation, any customers, prospective customers, employees and/or other third parties (collectively "<u>Personal Data</u>"); (B) the Payment Card Industry Data Security Standards; and (C) all contractual obligations regarding the Processing of Personal Data ("<u>Privacy Requirements</u>"). With respect to such Personal Data, the Company Entities have taken commercially reasonable steps to seek to protect such Personal Data against loss and against unauthorized access or use in a manner that would violate the privacy rights of any Person under Applicable Law. There has been no security breach of or ransomware attack on any of the Company Entities' security systems used for the collection, storage or retrieval of Personal Data nor has there been any other incident that resulted in any unauthorized access to, use and/or disclosure of any Personal Data held by the foregoing. The Company Entities have not received any written (or, to any Company Entity's Knowledge, oral) complaints, or notices of inquiry or investigation, from any person, patient, client, regulatory authority or customer regarding any Company Entity's compliance with the Privacy Requirements and/or its or any of its agents', employees' or contractors' uses or disclosures of, or security practices regarding Personal Data. Each Company Entity has required and does require all third parties to which it provides Personal Data and/or access thereto to maintain the privacy and security of such Personal Data, including by contractually obligating such third parties to protect such Personal Data in accordance with the Privacy Requirements, and the Company Entities have not been notified by any such third party of any security breach impacting Personal Data processed on behalf of the Company Entities. None of the Company Entities are subject to the General Data Protection Regulation 2016/679 of the European Parliament and of the Council of 27 April 2016 or any other privacy or data protection laws of any jurisdictions outside of the United States. The Company Entities have not distributed and do not distribute marketing communications to any Person, except in accordance with Privacy Requirements. <u>Schedule 3.12(b)(vi)</u> identifies the categories of Personal Data collected by each applicable Company Entity and sets forth the physical and electronic locations where such Personal Data is stored.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) The computer systems, servers, network equipment and other computer hardware owned, leased or licensed by each Company Entity and otherwise used in the business of any of the Company Entities (the "<u>IT Systems</u>") are adequate and sufficient (including with respect to working condition and capacity) for the operations of the Company Entities, as currently conducted. The Company Entities have continuously operated in a reasonable manner to preserve and maintain the performance, security and integrity of the IT Systems (and all software, information or data stored on any IT Systems) and have maintained reasonable documentation regarding its methods of operation and its support and maintenance. To each Company Entity's Knowledge, during the three (3) year period prior to the date of this Agreement there has been no unauthorized access to, use of or material disruption to the operation of any IT Systems. During the three (3) year period prior to the date of this Agreement, the Company Entities' IT Systems have not malfunctioned or experienced defects that caused a material disruption to the operation of the Businesses of any of the Company Entities, which such defects have not been resolved in all material respects. To each Company Entity's Knowledge, the IT Systems and all software included in the Owned IP is free of viruses, malware, time bombs, Trojan horses and other similar corruptants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13 <u>Litigation; Proceedings</u>. Except as set forth on <u>Schedule 3.13</u>, during the past (3) years, there have been no actions, litigations, suits, claims, complaints, charges, proceedings, orders, judgments, decrees, audits or investigations pending or, to each Company Entity's Knowledge, threatened against any such Company Entity or any of such Company Entity's directors, managers, officers or employees, in or by virtue of their capacity as such, at law or in equity, or before or by any federal, state, municipal, local or other governmental department, commission, board, bureau, court, tribunal, forum agency or instrumentality, any other Governmental Authority, or any arbitration, mediation or other dispute resolution forum, domestic or foreign. Except as set forth on <u>Schedule 3.13</u>, to the Knowledge of each Company Entity, no event has occurred, and no claim, dispute or other condition or circumstance exists, that will or could reasonably be expected to rise to or serve as a basis for the commencement of any action, litigation, claim complaint, suit, charge or proceeding. With respect to each of the matters set forth on <u>Schedule 3.13</u>, such schedule indicates whether a claim was, has been or will be filed for coverage under any applicable insurance policy. Except as set forth on <u>Schedule 3.13</u>, none of the Company Entities are subject to any arbitration, proceeding under collective bargaining Contracts or, to each Company Entity's Knowledge, any governmental investigation, audit or inquiry relating to or affecting the Business, the Acquired Assets or the Assumed Liabilities. Except as set forth on <u>Schedule 3.13</u>, no Company Entity is subject to any outstanding order, judgment or decree issued by any court or quasi-judicial or administrative agency or other Governmental Authority of any federal, state, local or foreign jurisdiction or any arbitrator relating to or affecting the Business, the Acquired Assets or the Assumed Liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14 <u>Governmental Licenses and Permits</u>. <u>Schedule 3.14</u> contains a list of all material Permits issued by Governmental Authorities that are owned or possessed by each Company Entity or any Person in connection with the Business, and no other material Permits issued by Governmental Authorities are required to be owned or possessed by any of the Company Entities or any Person for the conduct of the Business as now conducted and currently proposed to be conducted in all material respects. The Permits set forth on <u>Schedule 3.14</u> are collectively referred to herein as the "<u>Seller Licenses</u>". Except as set forth on <u>Schedule 3.14</u>, all of the Seller Licenses are valid and in full force and effect, are transferable as part of the Acquired Assets, if applicable, and will continue in full force and effect for the benefit of the operation of the Acquired Assets by the Buyer immediately following the Closing. Except as set forth on <u>Schedule 3.14</u>, each Company Entity is, and at all times during the three (3) year period prior to the Closing has been, in material compliance with all obligations under each such Seller License and any other material Permit any of the Company Entities possessed at any time during the three (3) year period prior to the Closing. No event has occurred that, with or without notice or lapse of time or both, would constitute a breach or default under any Seller License or would reasonably be expected to result in the revocation, suspension, lapse or limitation of any such Seller License, with or without notice or lapse of time or both. Except as set forth on <u>Schedule 3.14</u>, with respect to each Seller License and any other material Permit the Company Entities possessed or was required to have possessed to operate the Business as of the Closing and at any time during the three (3) year period prior to the Closing, neither any Company Entity, nor to the Knowledge of any Company Entity, any other Person to whom any Seller License has been issued or was required to have possessed a Permit, has received any written notice of the pending, threatened, or actual revocation, dispute, suspension, lapse, modification, restriction or other material limitation of any such Seller License or other material Permit, or notice of any alleged or actual breach of or non-compliance with any obligation under such Seller License, other material Permit, or any Applicable Law requiring such Company Entity to obtain a Permit. There are no provisions in, or agreements relating to, any Seller License that preclude or limit a Company Entity from operating and carrying on its Business as currently conducted. There has been no decision by a Company Entity or, to the Knowledge of any Company Entity, any other Person to whom any Seller License, or other Permit used in connection with the Business has been issued, not to renew any such Seller License.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15 <u>Compliance with Laws</u>. Except as disclosed on <u>Schedule 3.15</u>, each Company Entity is, and for the past three (3) years each Company Entity has been, in compliance in all material respects with all Applicable Laws that are applicable to such Company Entity, the Business, business practices (including the applicable Company Entity's cultivation, marketing, sales and distribution of its cannabis products and services), operations, services, properties or assets (including the Acquired Assets) and to which any Company Entity may be subject (excluding Federal Cannabis Laws). All regulatory disclosures, consumer agreements, advertising, promotional and sales materials and any and all other marketing practices used by any of the Company Entities, have complied and are currently in compliance with all Applicable Laws in all material respects. Each Company Entity is currently, and for the past three (3) years each Company Entity has been, in material compliance with all (i) state and local licensing and regulating bodies pertaining to cannabis (including marijuana, hemp and derivatives thereof, including cannabidiol), including emergency rules and industry bulletins, in each case as they are released and (ii) all Applicable Laws governing or pertaining to cannabis (including marijuana, hemp and derivatives thereof, including cannabidiol), in each case as applicable to the Business (except for Federal Cannabis Laws). Except as set forth on <u>Schedule 3.15</u>, during the three (3) year period prior to the date hereof, no Company Entity has received any written notice alleging a violation of any such Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.16 <u>Taxes</u>. Except as set forth on <u>Schedule 3.16</u>, with respect to the Business, the Acquired Assets and the Assumed Liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Company Entity has timely filed all income or other material Tax Returns that were required to be filed, and all such income or other material Tax Returns are true, correct and complete in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All Taxes due and payable by the Company Entities, whether or not shown or required to be shown on any Tax Return, have been timely paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) There
 are no Liens for Taxes upon any of the Acquired Assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company Entities have withheld and paid all Taxes required to have been withheld and paid in connection with amounts paid or owing to any employee, Contingent Worker, creditor, or other third party, and all Forms W-2 and 1099 required with respect thereto have been properly completed and timely filed, and the Company Entities have complied with all other material reporting requirements (including maintenance of the required records with respect thereto) with respect to such payments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) No deficiency for any amount of Tax has been asserted, in writing or, to the Knowledge of any Company Entity, orally, or assessed by a Governmental Authority against any Company Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) There is no action, suit, proceeding or audit or any notice of inquiry of any of the foregoing pending against or with respect to any Company Entity regarding Taxes and no action, suit, proceeding or audit has been threatened in writing against or with respect to any Company Entity regarding Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) No claim has ever been made by a Governmental Authority in a jurisdiction where a Company Entity does not file Tax Returns that such Company Entity is or may be subject to taxation by that jurisdiction or may be required to file a Tax Return in that jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The Company Entities do not "participate" and have not ever "participated" in any "reportable transactions" within the meaning of Treasury Regulations Section 1.6011-4(b)(1).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) No agreement, waiver or other document or arrangement extending or having the effect of extending the period for the assessment or collection of Taxes (including any applicable statute of limitation), has been executed or filed with the IRS or any other taxing authority by or on behalf of the Company Entities and no power of attorney with respect to any Tax matter is currently in force.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) None of the Acquired Assets is an interest (other than indebtedness within the meaning of Section 163 of the Code) in an entity taxable as a corporation, partnership, trust or real estate mortgage investment conduit for U.S. federal income tax purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.17 <u>Labor</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Schedule 3.17(a)</u> sets forth a true, accurate, and complete list as of the date hereof of each individual providing services to the Business as an employee, including the following information for each such individual: (i) name or employee ID, (ii) position or job title, (iii) date of hire, (iv) primary work location, (v) full-time or part-time status, (vi) annualized base salary or hourly wage rate (as applicable), (vii) incentive compensation for the current and prior calendar year, (viii) accrued paid time-off balance, (ix) active or inactive status (and, if inactive, the type of leave and estimated return to work date), (x) exempt or non-exempt status, (xi) employing entity, and (xii) immigration or work authorization status.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Schedule 3.17(b)</u> sets forth a true, accurate, and complete list as of the date hereof of each individual providing services to the Business as an independent contractor, including the following information for each such individual: (i) name or service provider ID, (ii) service start date, (iii) term of relationship and anticipated or scheduled end date, (iv) a general description of the services being provided or the role in the Business served, (v) fee or compensation arrangements (i.e. hourly, salary, project fee basis), and (vi) fees and other compensation paid and accrued in respect of services performed for the Business from January 1, 2025, through the date of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) None of the Company Entities is party to or bound by any Labor Agreement, no Labor Agreements are currently being negotiated by or on behalf of any Company Entity, and no Business Employees are represented by an Employee Representative Body with respect to their employment with the Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) No Labor Agreement requires consultation with or consent from any Employee Representative Body in connection with the entry into this Agreement or the consummation of the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) During the past three (3) years, there have been no union organizing activities, efforts or campaigns by any Employee Representative Body or on behalf of any Business Employees with respect to their employment with the Business, including election petitions filed with the National Labor Relations Board (the "<u>NLRB</u>"), demands for recognition, or other similar actions. Except as set forth on <u>Schedule 3.17(e)</u>, in the past three (3) years, there has been no actual or threatened unfair labor practice charge, material grievance, material labor arbitration, strike, lockout, work stoppage, picketing, slowdown, hand billing or other material labor dispute against or affecting any Company Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Except as set forth on <u>Schedule 3.17(f)</u>, each Company Entity is, and for the last three (3) years has been, (A) in material compliance in all respects with all Applicable Laws and regulations respecting or relating to wages and hours, including, without limitation, with respect to treatment and payment of tips, commissions, overtime, wages and all other compensation, deductions from pay, timely payment of wages and compensation, meal breaks and rest periods, time records and time keeping, and the proper classification, treatment and payment of each (x) employee for purposes of all Applicable Laws (including the treatment of employees as exempt or non-exempt for wage and hour law purposes), and (y) Contingent Worker (including, without limitation, for purposes of compensation, benefits, Taxes, and perquisites) and (B) in compliance in all material respects with all Applicable Laws and regulations respecting or relating to labor, employment, employment practices and terms and conditions of employment including, without limitation, fair employment practices, discrimination, harassment, retaliation, whistleblower protections, accommodation of disabilities, background checks, child labor, mass layoffs, plant closings, reductions in force, furloughs, family and medical leave, leaves of absence, time off, work authorization and immigration, workplace safety and health, workers compensation, unemployment insurance and compensation, affirmative action, prevailing wages and terms and conditions of employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Each Company Entity has made timely and proper payment of all amounts payable to each Business Employee, former employee, Business Contingent Worker, and former Contingent Worker, including all wages, salaries, commissions, bonuses, fees and other compensation due with respect to any employment or service relationship with or services performed for such Company Entity, payout of any accrued but unused paid time off and amounts required to be reimbursed to such Persons. No Company Entity is liable for any employment Taxes, contributions, fines, penalties, assessments, or any payment to any trust or other fund governed by or maintained by or on behalf of any Governmental Authority with respect to unemployment compensation, social security or other benefits or obligations for Business Employees, former employees, Business Contingent Workers or former Contingent Workers (other than routine payments made in the Ordinary Course of Business).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Except as set forth on <u>Schedule 3.17(h)</u>, there are no material Proceedings, grievances, complaints, charges, litigations, audits, mediations, arbitrations or other private dispute resolution proceedings with respect to any employment or labor matters, policies, procedures, or practices (including, without limitation, involving, relating to, or arising out of allegations of employment discrimination, sexual or other harassment, sexual misconduct, retaliation, wage and hour law violations, misclassifications of Business Employees, former employees, Business Contingent Workers or former Contingent Workers, breach of any employment, consulting or independent contractor agreement, or Labor Agreement, or unfair labor practices) pending or, to the Knowledge of the Company Entities, threatened against any Company Entity in, by or before any judicial, regulatory or administrative forum, any other Governmental Authority, or under any private dispute resolution procedure or internally. Except as set forth on <u>Schedule 3.17(h)</u>, there have not been within the last three (3) years any Proceedings, grievances, complaints, charges, litigations, audits, mediations, arbitrations or other private dispute resolution proceedings with respect to any wage and hour law violations, misclassifications of Business Employees, former employees, Business Contingent Workers or former Contingent Workers pending or, to the Knowledge of the Company Entities, threatened against any Company Entity in, by or before any judicial, regulatory or administrative forum, any other Governmental Authority, or under any private dispute resolution procedure or internally.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) There are no, and during the past three (3) years there have been no, Governmental Authority conciliation agreements, noncompliance findings or audits pending with respect to any executive, director or officer of any Company Entity or the employment policies or practices of any Company Entity, and to Knowledge of the Company Entities, no such audit or investigation is threatened or planned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Except as set forth on <u>Schedule 3.17(j)</u>, each Business Employee located in the United States is employed on an at-will basis, and his or her employment can be terminated at any time by any party and for any lawful reason, without penalty or notice of more than 30 days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Except as set forth on <u>Schedule 3.17(k)</u>, to the Knowledge of the Company Entities, no Business Employee or Business Contingent Worker with annualized compensation at or above $100,000 intends to terminate his or her employment or service prior to the one-year anniversary of the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) In the past three (3) years, no Company Entity has implemented any "plant closing" or "mass layoff" of employees as those terms are defined under the WARN Act triggering notice under WARN, nor is there presently any outstanding Liability under the WARN Act, and no plant closings or mass layoffs of employees that could trigger Liability under the WARN Act are currently contemplated, planned, or announced.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.18 <u>Employee Benefit Plans.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Schedule 3.18(a)</u> sets forth a true and complete list of each material Employee Benefit Plan and the entity that sponsors, maintains or contributes to, or is the counterparty to the Employee Benefit Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) With respect to each Employee Benefit Plan, the Company has made available to Buyer the following: (i) the most current plan document (or, if not written, a written summary of its terms), (ii) each related trust agreement and other funding instrument, administrative services agreement, group annuity contract, and insurance contract, (iii) the most recent IRS determination or prototype opinion letter, if applicable, (iv) each summary plan description, (v) each non-routine correspondence with any Governmental Authority dated within the past three (3) years, and (vi) the most recent financial statements and Form 5500 annual report (including attached schedules).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Employee Benefit Plan (and each related trust, insurance, contract, and fund) is and has been established, documented, operated, maintained, funded, and administered in material compliance in all respects with its terms and all Applicable Laws. All contributions and payments that are due pursuant to an Employee Benefit Plan have been paid on a timely basis or, to the extent not yet due, accrued in accordance with GAAP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) No Company Entity or ERISA Affiliate has at any time maintained, sponsored, contributed to or had any outstanding Liability with respect to any (i) "multiemployer plan" (as defined in Section 3(37) of ERISA), (ii) plan that is or has been subject to Title IV of ERISA Section 412 of the Code or Section 302 of ERISA, (iii) "multiple employer plan" (within the meaning of Section 210 of ERISA or Section 413(c) of the Code), (iv) "multiple employer welfare arrangement" (as such term is defined in Section 3(40) of ERISA) or (v) voluntary employees beneficiary association under Section 501(c)(9) of the Code. No Liability under (x) Title IV of ERISA, (y) Section 302 of ERISA or (z) Section 412 of the Code has been, or could reasonably be expected to be, incurred by any Company Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Except as set forth on <u>Schedule 3.18(e)</u>, no Company Entity has any obligation to provide post-employment, post-termination or post-ownership welfare benefits other than as required under COBRA for which the covered individual pays the full cost of coverage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) No Employee Benefit Plan is the subject of a Proceeding with any Governmental Authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Each Employee Benefit Plan that is intended to be qualified under Section 401(a) of the Code has received a favorable determination letter from the IRS or is the subject of a favorable opinion letter from the IRS on the form of such Employee Benefit Plan upon which each adopting employer is entitled to rely in accordance with the applicable IRS pronouncements, and to any Company Entity's Knowledge, there is no reasonable basis for any such Employee Benefit Plan to lose its Tax-qualified status.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Each Employee Benefit Plan that constitutes in any part a nonqualified deferred compensation plan within the meaning of Section 409A of the Code has been documented, operated, and maintained in material compliance with Section 409A of the Code and all applicable IRS guidance promulgated thereunder. No Company Entity has been required to report any Taxes as a result of the operation of Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) No Company Entity has a current or contingent obligation to indemnify, gross up, reimburse, or otherwise make whole any Person for any Taxes, including those imposed under Section 4999 or Section 409A of the Code (or any similar provisions of state, local, or foreign Applicable Law).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Except as set forth on <u>Schedule 3.18(j)</u>, neither the execution and delivery of this Agreement nor the consummation of the transactions contemplated hereby could (either alone or in conjunction with any other event) (i) accelerate the time of vesting, payment or funding of any compensation or benefits under any Employee Benefit Plan, (ii) increase any benefits otherwise payable under any Employee Benefit Plan, (iii) result in the payment of any amount that could, individually or in combination with any other such payment, constitute an "excess parachute payment" (within the meaning of Section 280G of the Code) or (iv) entitle the recipient of any payment or benefit under any Employee Benefit Plan to a "gross-up" payment for any income or other Taxes that might be incurred with respect to such payments or benefits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Except as set forth on <u>Schedule 3.18(k)</u>, no Employee Benefit Plan is maintained primarily for individuals who are residents outside of the United States (each, a "<u>Foreign Benefit Plan</u>"). Each Foreign Benefit Plan required to be registered or approved has been registered or approved and has been maintained and administered in good standing with applicable Governmental Authorities in all material respects. Each Foreign Benefit Plan that is intended to qualify for favorable Tax benefits under the Applicable Laws of any jurisdiction is so qualified, and no condition exists, and no event has occurred that would reasonably be expected to result in the loss or revocation of such qualification. No Foreign Benefit Plan is a defined benefit pension plan or scheme. There are no unfunded Liabilities for deferred compensation, pension benefits, pension schemes or termination indemnities related to any period of time under any Foreign Benefit Plan, or with respect to any current or former employee, director, officer or Contingent Worker employed or engaged outside of the United States, except for any Liabilities reflected in accordance with GAAP on the Financial Statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.19 <u>Insurance</u>. Each Company Entity has in full force and effect insurance policies of the types and in the amounts that such Company Entity reasonably believes is adequate for the Business and all such insurance that is required by Applicable Law. <u>Schedule 3.19</u> lists each insurance policy maintained by or on behalf of each Company Entity with respect to its properties, assets and business, together with a claims history for the past two (2) years. All of such insurance policies are in full force and effect and will continue in full force and effect following the Closing. All premiums or other payment obligations due and payable with respect to such insurance policies have been paid to date, and since January 1, 2023, such Company Entity has not been (i) in default with respect to its Liabilities under any such insurance policies or (ii) denied insurance coverage. During the past two (2) years there have been no material changes in the amounts of premiums charged for such policies (including any precedent or successor policies) other than ordinary market based or coverage change increases and none of the Company Entities have received any written indication that the insurance carriers issuing any policy currently in effect intends to cancel any policy or increase the premiums by more than an immaterial amount upon renewal or otherwise. The Company Entities do not have any self-insurance or co-insurance program. The Company Entities have given notice or have otherwise presented in a timely fashion every material claim that has been asserted but is not yet resolved relating to the Business that is known by the applicable Company Entity to be covered by insurance under the policies in place at the time of such claim.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20 <u>Environmental Matters</u>.
 Except as listed in <u>Schedule 3.20</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company Entities have made available to the Buyer true, correct and complete copies of all material reports, assessments, testing results, and other material documents that are in the possession or control of any of the Company Entities relating to compliance with Environmental Law or the environmental conditions at, or the status with respect to any Environmental Law of, any of the Owned Real Property or Leased Real Property, including Phase I and Phase II environmental site assessments, any material tests, surveys or plans concerning asbestos, mold or lead paint, and any Permits required or issued under any Environmental Law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to any Company Entity's Knowledge, no Hazardous Substances have been generated, used, treated, contained, handled or stored on, transported to or from, or Released on, under, in, at, to or from any of the Owned Real Property or Leased Real Property (i) by any Company Entity or (ii) to any Company Entity's Knowledge, by any other party, in each case, in an amount, manner or condition that requires notification, investigation, abatement, remediation or any response action by any Company Entity under any Environmental Laws or Permits required thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) to any Company Entity's Knowledge, no Hazardous Substance has been Released at any offsite location as a result of conducting the Business in an amount, manner or condition that requires notification or any material investigation, abatement, remediation, response action or satisfaction of liability by any Company Entity under any Environmental Laws or Permits required thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) to any Company Entity's Knowledge, no Owned Real Property or Leased Real Property contains in-ground, below or underground storage tanks or containers that presently contain, or previously contained, Hazardous Substances, either in or not in use;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) to any Company Entity's Knowledge, no employee or former employee of the Company Entities or their Affiliates has been exposed to any Hazardous Substance in connection with their employment by the Business and no Person has been exposed to any Hazardous Substance at any location as a result of the conduct of the Business, in each case that has resulted in an Environmental Claim against any Company Entity or in an amount, manner or condition requiring notification or any material investigation, abatement, management, remediation, response action or satisfaction of liability by such Company Entity under any Environmental Laws or Permits required thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) to any Company Entity's Knowledge, no per- or polyfluoroalkyl substance, asbestos, lead paint, or toxic mold are or have been present on any of the Owned Real Property or Leased Real Property in an amount, manner or condition requiring notification or any material investigation, abatement, management, remediation, response action or satisfaction of liability by such Company Entity under any Environmental Laws or Permits required thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) each of the Company Entities has obtained and is in compliance in all material respects with all Permits that are required under any Environmental Law with respect to the Business and all operations of such Company Entity at the Owned Real Property and/or Leased Real Property, all such Permits are currently in full force and effect, there are no Environmental Claims pending, or to any Company Entity's Knowledge threatened, against any Company Entity that threatens the adverse modification, suspension, revocation or non-renewal of any such Permit;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) there is no Environmental Claim pending or, to any Company Entity's Knowledge, threatened against any Company Entity or the Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) neither the execution of this Agreement nor the consummation of the transactions contemplated hereby will trigger or require (i) any notice to be given to or consent to be obtained from any Governmental Authority pursuant to any Environmental Law, except for any notices required for the transfer of Permits held by the Company Entities pursuant to Environmental Laws, as listed on <u>Schedule 3.20</u>, or (ii) any investigation, assessment or other action related to any Hazardous Substance; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) each Company Entity is, and for the past three (3) years, has been, in compliance in all material respects with all Environmental Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.21 <u>Customers</u>. All of the Company Entities' Contracts with customers are on a substantially similar form to that of the Company Entities' standard form customer agreements (other than retail customers), which have been made available to the Buyer. All of the Company Entities' customer deposits or payments are handled and applied in accordance with the applicable contractual terms and in material compliance with Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.22 <u>Subcontractors and Suppliers</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Schedule 3.22(a)</u> sets forth a true, complete and correct list of each Company Entity's subcontractors (the "<u>Subcontractors</u>") and their respective volume of purchases (by dollar value), for each of 2023, 2024 and the first nine (9) months of 2025. Except as set forth on <u>Schedule 3.22(a)</u>, in the two (2) years prior to the date hereof, no Company Entity has received any written indication from any Subcontractor to the effect that, and, to the Knowledge of such Company Entity, a Subcontractor intends to stop or materially reduce or materially change the terms of (whether related to payment, price or otherwise) supplying materials, products or services to such Company Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Schedule 3.22(b)</u> sets forth a true, complete and correct list of the ten (10) largest suppliers of each Company Entity (the "<u>Top Suppliers</u>") by volume of sales and purchases (by dollar value), for each of 2023, 2024 and the first nine (9) months of 2025. Except as set forth on <u>Schedule 3.22(b)</u>, in the two (2) years prior to the date hereof, no Company Entity has received any written indication from any Top Supplier to the effect that such (nor, to the Knowledge of any Company Entity, does any) Top Supplier intends to stop or materially reduce or materially change the terms of (whether related to payment, price or otherwise) supplying materials, products or services to any Company Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.23 <u>Affiliate Transactions</u>. Except as disclosed on <u>Schedule 3.23</u>, no officer, director, employee, or Affiliate of the Company Entities or, to the Knowledge of the Company Entities, any individual related by blood, marriage or adoption to any such Person or any entity in which any such Person owns any beneficial interest (collectively, the "<u>Insiders</u>"), is a party to any Contract or transaction with any Company Entity which is pertaining to the Business or any of the Company Entities or has any interest in any Acquired Assets used in or pertaining to the Business or any of the Company Entities (other than Contracts with respect to their service as an officer, director or employee). Except as set forth on <u>Schedule 3.23,</u> no Insider is, directly or indirectly, entitled to any bonus or payment by the Company Entities in connection with the transactions contemplated by this Agreement or for any other reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.24 <u>Inventory</u>. All items included in the inventory of each Company Entity consist of items of a quality usable or saleable in the Ordinary Course of Business, including being non-expired and free from mildew, fungus, rot, spoilage and agricultural neglect (except for an immaterial number of obsolete or damaged items that have been written off or for which adequate reserves have been established in the Financial Statements) and are in quantities sufficient for the normal operation of the Business in accordance with past practice. All of the inventory is owned by the applicable Company Entities free and clear of all Liens (other than Permitted Liens). All of the inventory for sale has been properly tested and marked in accordance with Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25 <u>Brokers</u>. Except as set forth on Schedule 3.25, no agent, broker, investment banker, financial advisor or other Person is or will be entitled to any brokers' or finder's fee or any other commission or similar fee from the Company Entities in connection with the consummation of the transactions contemplated herein.

**<u>ARTICLE 4</u>**

<u>REPRESENTATIONS AND WARRANTIES OF THE COLLATERAL AGENT</u>

As a material inducement to the Company Entities and the Buyer to enter into this Agreement, the Collateral Agent hereby represents and warrants to the Company Entities and the Buyer that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 <u>Organization and Qualification of Collateral Agent</u>. The Collateral Agent is a limited liability company duly organized, validly existing and in good standing under the Laws of Delaware. The Collateral Agent has the requisite power and authority on behalf of the Senior Noteholders under the Senior Notes Documents to (a) convey<u>exercise its rights as secured party of record under Article 9 of the UCC to effect the disposition of the Transferred Collateral Assets and the transfer</u> the Company Entities' right, title and interest in and to the Transferred Collateral Assets under the UCC and other Applicable Law in accordance with the terms of this Agreement <u>without itself acquiring or holding title to the Transferred Collateral Assets</u>, (b) execute and deliver this Agreement and the other Ancillary Agreements to which it is or will be a party and (c) carry out all of the actions required of it pursuant to the terms of this Agreement and the other Ancillary Agreements to which it is or will be a party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 <u>Approval; Binding Effect</u>. The Collateral Agent has obtained all necessary authorizations and approvals required for the execution and delivery of this Agreement and the other Ancillary Agreements to which it is or will be a party and the consummation of the transactions contemplated hereby and thereby. This Agreement has been duly executed and delivered by the Collateral Agent and constitutes the legal, valid and binding obligation of the Collateral Agent, enforceable against the Collateral Agent in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or affecting creditors generally and by general equitable principles (regardless of whether such enforceability is considered in a proceeding in equity or at law). All approvals of the Collateral Agent, if any, required to consummate the transactions provided for in this Agreement and the other Ancillary Agreements to which it is or will be a party will have been obtained prior to the Closing. The Collateral Agent has the absolute and unrestricted right, power, authority and capacity to sell, on behalf of the Senior Noteholders, the Company Entities' right, title and interest in and to the Transferred Collateral Assets and to enter into this Agreement and the other Ancillary Agreements to which it is or will be a party. Neither the execution and delivery by the Collateral Agent of this Agreement or the other Ancillary Agreements to which it is or will be a party nor the consummation of the transactions contemplated hereby or thereby will (a) violate or conflict with any provision of the articles of incorporation, by-laws, operating agreement or any other organizational documents of the Collateral Agent or (b) violate or conflict with any provision of any law. The execution of this Agreement and the other Ancillary Agreements to which it is or will be a party and the consummation of the transactions contemplated hereby and thereby are within the authority of the individual who shall execute this Agreement on behalf of the Collateral Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 <u>Security Interest</u>. The Collateral Agent, for the benefit of itself and the Senior Noteholders, has<u>holds</u> a valid, properly perfected and enforceable Lien on all of the Transferred Collateral Assets to be sold hereunder by the Collateral Agent, to the extent such Lien can be perfected by the proper filing of a UCC financing statement with the applicable filing office specified in the UCC, with priority over all Liens thereon other than any Permitted Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 <u>Transfer of Interest</u>. The Collateral Agent has not heretofore sold, assigned, transferred or subordinated (other than with respect to certain of the Permitted Liens pursuant to applicable Law) any of its Liens in the Transferred Collateral Assets being purchased hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 <u>Valid Obligations</u>. All of the obligations of the Company Entities to the Collateral Agent and the Senior Noteholders under the Senior Notes Documents are valid, binding and enforceable, and the Company is in default of such obligations in a manner that vests in the Collateral Agent<u>, as secured party under Article 9 of the UCC,</u> the right to convey, subject to the terms and conditions of this Agreement and the other Ancillary Agreements,<u>effect a disposition of</u> all of the Company Entities' right, title and interest in and to the Acquired Assets to Buyer pursuant to <u>the terms and conditions of this Agreement and the other Ancillary Agreements, with the effect of such disposition governed by</u> Section 9-617(a) of the UCC. As of November 13, 2025, the aggregate amount of the outstanding obligations under the Senior Notes is at least $111,111,593.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 <u>Liens</u>. The Collateral Agent, on behalf of itself and the Senior Noteholders, hereby agrees and acknowledges that after the consummation of the transactions contemplated by this Agreement and the other Ancillary Agreements <u>at Closing</u>, except as contemplated by the RSA in respect of the New Money Financings, the Collateral Agent shall not hold any Lien in or to any of the Acquired Assets being transferred to Buyer pursuant hereto or thereto and shall take all reasonable steps and execute and deliver all documents necessary or appropriate to release or otherwise extinguish such Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7 <u>Compliance with the UCC</u>. The sale<u>disposition initiated</u> by the Collateral Agent (on behalf of itself and the Senior Noteholders) of the Company Entities' right, title and interest in and to the Transferred Collateral Assets contemplated hereby shall be conducted and consummated by the Collateral Agent as a public sale pursuant to and in accordance with Sections 9-610 through 9-619 and 9-623 through 9-628 of the UCC and all other applicable Laws <u>and consummated at Closing pursuant to and in accordance with this Agreement with the effect of such consummation governed by Section 9-617 of the UCC</u>. To the extent not waived by such parties in writing to the satisfaction of the Collateral Agent and Buyer, the Collateral Agent, on behalf of itself and the Senior Noteholders, has, not less than ten (10) days prior to the date of this Agreement, sent notices with respect to the sale pursuant to Article 9 of the UCC contemplated hereby to (a) any secondary obligor (as defined in the UCC), (b) any Person from whom the Collateral Agent has received before the notification date (as defined in Section 9-611(a) of the UCC) and authentication notification of a claim of an interest in Acquired Assets and (c) any secured party or lienholder pursuant to Sections 9-611(c)(3)(B) (by compliance with Sections 9-611(e)) and 9-611(c)(3)(C) of the UCC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8 <u>Brokers</u>. No agent, broker, investment banker, financial advisor or other Person is or will be entitled to any brokers' or finder's fee or any other commission or similar fee from the Collateral Agent in connection with the consummation of the transactions contemplated herein.

**<u>ARTICLE 5</u>**

<u>REPRESENTATIONS AND WARRANTIES OF THE BUYER</u>

As a material inducement to the Company Entities to enter into this Agreement, the Buyer hereby represents and warrants to the Company Entities that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 <u>Organization and Power</u>. The Buyer is duly organized, validly existing and in good standing under the laws of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 <u>Authorization of Transactions</u>. The Buyer has full limited liability power and authority to execute and deliver this Agreement and each of the Ancillary Agreements to which it is or will be a party and to consummate the transactions contemplated hereby and thereby. The Buyer has duly authorized the execution and delivery of this Agreement and all Ancillary Agreements to which it is or will be a party and the consummation of the transactions contemplated hereby and thereby. No other corporate proceedings on the part of the Buyer are necessary to approve and authorize the execution and delivery of this Agreement or the Ancillary Agreements to which it is or will be a party and the consummation of the transactions contemplated hereby and thereby. This Agreement and all Ancillary Agreements to which the Buyer is or will be a party have been (or will be) duly executed and delivered by the Buyer and, assuming the valid execution and delivery by the other parties thereto, constitute (or will constitute) the valid and binding agreements of the Buyer, enforceable against the Buyer in accordance with their terms, subject to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors' rights and to general principles of equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 <u>Non-Contravention</u>. The execution, delivery and performance by the Buyer of this Agreement and all agreements, documents and instruments executed and delivered by it pursuant hereto and the performance of the transactions contemplated by this Agreement and such other agreements, documents and instruments do not and will not: (i) materially violate or result in a material violation of, materially conflict with or constitute or result in a material default (whether after the giving of notice, lapse of time or both) under, accelerate any obligation under, or give rise to a right of termination of, any contract, agreement, obligation, Permit, license or authorization to which the Buyer is a party or by which its assets are bound; (ii) materially violate or result in a material violation of, materially conflict with or constitute or result in a material default (whether after the giving of notice, lapse of time or both) under, or accelerate any obligation under, any provision of the Buyer's organizational documents; (iii) materially violate or result in a material violation of, or constitute a material default (whether after the giving of notice, lapse of time or both) under, any provision of any law, regulation or rule, or any order of, or any restriction imposed by, any court or governmental agency applicable to the Buyer; or (iv) require from the Buyer any notice to, declaration or filing with, or consent or approval of, any governmental authority or other third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4 <u>Litigation</u>. There are no actions, suits, proceedings or orders pending or, to the Buyer's knowledge, threatened against or affecting the Buyer at law or in equity, or before or by any federal, state, municipal or other governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, which would adversely affect the performance of the Buyer under this Agreement and the Ancillary Agreements or the consummation of the transactions contemplated hereby or thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5 <u>Brokers</u>. No agent, broker, investment banker, financial advisor or other Person is or will be entitled to any brokers' or finder's fee or any other commission or similar fee from Buyer in connection with the consummation of the transactions contemplated herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6 <u>Independent Investigation; Non-Reliance</u>. In connection with its investment decision, Buyer or its representatives have inspected and conducted such reasonable independent review, investigation and analysis (financial and otherwise) of the Company Entities as desired by Buyer. The purchase of the Acquired Assets by Buyer and the consummation of the transactions contemplated hereby by Buyer are not done in reliance upon any representation or warranty by, or information from the Company Entities or any of their Affiliates, employees or representatives, whether oral or written, express or implied, including any implied warranty of merchantability or of fitness for a particular purpose, except for the representations and warranties specifically and expressly set forth in <u>Article 3</u> (as modified by the Disclosure Schedules) and <u>Article 4</u>, the certificates delivered under this Agreement, any other closing document or any conveyance document, and Buyer acknowledges that the Company Entities expressly disclaim any other representations and warranties.

**<u>ARTICLE 6</u>**

<u>ADDITIONAL AGREEMENTS</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 <u>Pre-Closing Covenants.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Conduct of the Business</u>. Except (i) as set forth on <u>Schedule 6.1(a)</u>, (ii) as required by any law or order or Contract, (iii) as permitted, required or contemplated by this Agreement, (iv) with the prior written consent of Buyer, during the period from the date of this Agreement to the earlier of (a) the Closing or (b) the date on which this Agreement is terminated in accordance with this Agreement (the "<u>Interim Period</u>"), each Company Entity shall conduct the Business in the Ordinary Course in all material respects and in material compliance with all Applicable Laws. During the Interim Period, each Company Entity will keep the Business and its assets and properties, including each Company Entity's present operations, physical facilities, licensees, working conditions, insurance policies, goodwill and relationships with lessors, licensors, suppliers, customers, employees and other business relations substantially intact, open and operational. Without limiting the generality of the foregoing, during the Interim Period, each Company Entity will not, without the prior written consent of the Buyer, take any of the following actions, in each case with respect to the Business, the Acquired Assets or the Assumed Liabilities, as applicable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) amend, extend or terminate any Seller Contract or enter into any Contract, which if entered into prior to the date hereof, would be a Seller Contract (other than a termination of a Seller Contract as a result of the expiration of the term of such Seller Contract);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) incur any Liability (including further Indebtedness) in excess of $75,000, other than in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) dispose of or encumber any Acquired Assets other than sales of inventory or disposal of obsolete equipment in the Ordinary Course of Business (or transfer any asset that would otherwise be an Acquired Asset to any Company Non-Seller);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) modify, extend, terminate, or enter into any Labor Agreement or recognize or certify any Employee Representative Body as the bargaining representative for any Business Employee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) implement or announce any employee layoff, furlough, reduction in force, plant closing, reduction in compensation, or other similar action that triggers or could trigger notice obligations under the WARN Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) increase any compensation or benefits of any Business Employee or Business Contingent Worker, other than annual increases made in the Ordinary Course of Business with respect to any Person whose annual compensation opportunities are less than $100,000, or establish adopt, amend or terminate any Employee Benefit Plan or compensation plan, policy, program, contract, agreement, or arrangement that would be an Employee Benefit Plan if in effect on the date hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) hire, promote, retain, engage or terminate any Business Employee or Business Contingent Worker, other than in the Ordinary Course of Business with respect to any Person whose annualized compensation opportunities are less than $100,000, or transfer the employment or service relationship of any Business Employee or Business Contingent Worker from the Company Entities to any other Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) license to any Person any Owned IP (other than non-exclusive licenses granted in the Ordinary Course of Business);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) commence
 or settle any Proceeding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) apply for, terminate or amend any Seller License, other than in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) declare,
 set aside, or pay any cash or non-cash dividend;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) amend, modify, waive, supplement or restate any organizational documents of any Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) increase or decrease the size of any board of directors or managers of any Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) authorize or approve any material change in the nature of the Business of any Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) authorize or issue any new equity securities of any Company Entity (including options, warrants, convertible securities, or other rights to acquire equity);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16) dissolve,
 wind up or liquidate any Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17) make any change to existing accounting principles, practices, methods or policies of any Company Entity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18) (i) make or change any Tax election, (ii) change any Tax accounting period, (iii) adopt or change any method of Tax accounting, (iv) file any amended Tax Return, (v) enter into any closing agreement with respect to Taxes, (vi) settle any Tax claim or assessment, (vii) surrender any right to claim a Tax refund, or (viii) consent to any extension or waiver of the limitations period applicable to any Tax claim or assessment.

Nothing contained in this Agreement shall be deemed to give Buyer, directly or indirectly, the right to control or direct the business or any operations of the Company Entities prior to the Closing. Prior to the Closing, the Company Entities shall exercise, consistent with the terms and conditions of this Agreement, complete control and supervision over their respective operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Preservation of Inventory</u>. During the Interim Period, the Company Entities will use their reasonable best efforts to maintain and preserve all inventory associated with the Business in a good and saleable condition, including being non-expired, properly labeled and free from mildew, fungus, rot, spoilage and agricultural neglect. During the Interim Period, each Company Entity will maintain at least substantially similar levels of inventory of flower, trim, concentrate and edibles at each Business location as each Company Entity has maintained over the twelve (12) month period prior to the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Real Estate Covenants</u>. During the Interim Period, the Company Entities shall use best efforts to, and shall cause the Subsidiaries of each Company Entity to, assist Buyer in obtaining the following items for each Owned Real Property:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) a commitment for an ALTA Owner's Title Insurance Policy 2021 Form (or other form of policy reasonably acceptable to Buyer), issued by a title insurance company reasonably satisfactory to Buyer (the "<u>Title Company</u>"), together with a copy of all documents referenced therein (the "<u>Title Commitments</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) an ALTA survey, dated no earlier than the date of this Agreement, prepared by a licensed surveyor reasonably satisfactory to Buyer, and conforming to 2021 Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys, including Table A Items Nos. 2, 3, 4, 6(a), 6(b), 7(a), 7(b)(l), 7(c), 8, 9, 13, 14, 16, 17 and 20 ($1,000,000) and such other standards as the Title Company and Buyer require as a condition to the removal of any survey exceptions from the Title Policies (defined below), and certified to Buyer, Buyer's lender and the Title Company, in a form and substance satisfactory to each of such parties (the "<u>Surveys</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) a zoning report, dated no earlier than the date of this Agreement and prepared by a company reasonably satisfactory to Buyer, in form and substance satisfactory to Buyer and the Title Company (the "<u>Zoning Reports</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) a title insurance policy in accordance with the Title Commitment, insuring the applicable Company Entity's fee simple title to each Owned Real Property as of the Closing Date (including all recorded appurtenant easements insured as separate legal parcels) with extended coverage and gap coverage from the applicable Company Entities through the date of recording, subject only to Post-Closing Permitted Liens, in such amount as Buyer reasonably determines to be the value of the Owned Real Property insured thereunder, including all endorsements reasonably requested by Buyer, in form and substance reasonably satisfactory to Buyer (the "<u>Title Policies</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) [Reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) a property condition report, dated no earlier than the date of this Agreement and prepared by a company satisfactory to Buyer, in form and substance satisfactory to Buyer (the "<u>Property Condition Reports</u>"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) an appraisal, dated no earlier than the date of this Agreement and prepared by a company satisfactory to Buyer, in form and substance satisfactory to Buyer (the "<u>Appraisals</u>").

The Title Commitments, Surveys, Zoning Reports, Title Policies, Property Condition Reports, Appraisals, and all affidavits, indemnities, and other agreements or assurances required by the Title Company to issue the Title Policies shall be collectively referred to herein as the "<u>Owned Real Property Deliverables</u>". The Company Entities shall pay all fees, costs and expenses with respect to the Owned Real Property Deliverables and with respect to closing costs (such as escrow and recording fees) in relation to the transfer of the Owned Real Property. At or prior to Closing, the Company Entities shall remove or cause to be removed from each Owned Real Property's title any Liens which are not Post-Closing Permitted Liens, at no cost to Buyer. The applicable Company Entity shall provide the Title Company with an owner's affidavit, GAP indemnity, and any other affidavit, indemnity or other assurance requested by the Title Company to issue the Title Policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Appropriate Actions</u>. Each of the Parties shall use reasonable best efforts to take all action necessary to consummate the transactions contemplated by this Agreement as soon as possible after the execution of this Agreement, including taking all actions necessary to comply promptly with all Applicable Laws that may be imposed on it or any of its Affiliates with respect to the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Notices and Consents</u>. Each of the Parties shall use reasonable best efforts to obtain, as soon as possible after the execution of this Agreement, any and all consents, approvals and authorizations set forth on <u>Schedule 6.1(e)</u>, including the Requisite Regulatory Approvals, and each Party shall cooperate with the other Parties to this Agreement in obtaining all such consents, approvals and authorizations set forth on <u>Schedule 6.1(e)</u>, including the Requisite Regulatory Approvals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Further Assurances</u>. If any further action is necessary or desirable to carry out the purposes of this Agreement, each Party, upon request of the other Party and from time to time, will take such further action (including the execution and delivery of such further instruments and documents) as the other Party reasonably may request and deem necessary or desirable to consummate the transactions contemplated by this Agreement, all at the sole cost and expense of the requesting Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 <u>Access to Information; Cooperation; Further Assurances</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) From and after the Closing and through the earlier of (i) the third (3rd) anniversary of the date thereof and (ii) the completion of the Liquidation Proceedings, the Company Entities shall maintain the following books and records of the Company Entities dating from January 1, 2023 (and any such books and records in the Company Entities' possession that precede such date) through the Closing and provide access thereto and/or copies thereof as reasonably requested by the Buyer: (a) general records and journals; (b) historical income statements, balance sheets and statements of cash flows; (c) business, accounting and financial records; (d) personnel records and employment data; provided that the applicable Company Entity is not required to provide access to any such personnel records and employment data, except (1) as allowed under Applicable Law or (2) if prohibited by Applicable Law, with such employee's consent; (e) any material correspondence to, with or from any Person in connection with the Business; (f) all telephone and facsimile numbers and internet access (including email) accounts and (g) all information relating to Taxes (to the extent relating solely to Taxes paid by or on behalf of any Company Entity or relating to any Acquired Asset). In connection with any Liquidation Proceeding, the Company Entities shall transfer or make available all books and records to any liquidator, assignee, or other third party responsible for administering the Liquidation Proceeding, who shall thereafter maintain such books and records and provide access to the Buyer in accordance with this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Further Assurances of Buyer</u>. Following the Closing, the Buyer shall, at the request and reasonable expense of the Collateral Agent, execute, acknowledge, deliver, file and/or record such additional instruments, documents and filings, and take such further actions, as the Collateral Agent may reasonably request (i) to evidence the discharge and release of the Collateral Agent's Liens on the Collateral Assets pursuant to § 9-617 of the UCC, (ii) to effectuate, confirm or evidence the transfer of the Collateral Assets to the Buyer, and (iii) to enable the Collateral Agent to comply with any Applicable Law in connection with the consummation of the UCC sale<u>therewith</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Further Assurances of Company Sellers</u>. Each Company Seller shall, without further consideration, and (i) at the written direction of the Collateral Agent solely with respect to the Collateral Assets, or (ii) otherwise at the written direction of the Buyer in accordance with this Agreement, execute and deliver such bills of sale, assignments, endorsements, deeds, and other instruments of transfer and conveyance, and take such further actions as may be reasonably requested to (a) effectuate or confirm the transfer of any Acquired Assets, (b) cure any defect of title or evidence of ownership relating thereto, and (c) otherwise carry out the intent of this Agreement; provided that no Company Seller shall be required to incur any unreimbursed out-of-pocket expense, assume any additional Liability, or provide any representation, warranty, or covenant other than those expressly set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 <u>Refunds and Remittances</u> <u>; Insurance Claims</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) After the Closing, if any Company Entity receives any refund or other amount which is attributable to an Acquired Asset or is otherwise properly due and owing to the Buyer in accordance with the terms of this Agreement (which for the avoidance of doubt shall include any payment received from any customer or any Person who provides financing to any customer), such Company Entity shall hold all such funds in trust for the Buyer and shall promptly remit, or shall cause to be remitted, such amount to the Buyer within five (5) Business Days of receipt of such funds. Payments remitted to the Buyer pursuant to this <u>Section 6.3(a)</u> shall be in the form received by such Company Entity or any of its Affiliates. After the Closing, if the Buyer receives any refund or other amount which is attributable to an Excluded Asset or is otherwise properly due and owing to the applicable Company Entity in accordance with the terms of this Agreement, the Buyer shall promptly remit, or shall cause to be remitted, such amount to the applicable Company Entity. Payments remitted to such Company Entity pursuant to this <u>Section 6.3(a)</u> shall be in the form received by the Buyer or any of its Affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) From and after the Closing Date, Buyer and its Affiliates shall be entitled to cause the Company or its Affiliates to, and the Company and its Affiliates shall, access, make claims on, or claim benefits from or under, any of the Company's and its Affiliates' current insurance policies, programs and arrangements with respect to any claim, basis for claim, act, omission, event, circumstance, occurrence or loss that occurred or existed prior to the Closing Date that relates to or is an Assumed Liability (and then only to the extent that such claim, basis for claim, act, omission, event, circumstance, occurrence or loss occurred or existed on or prior to the Closing Date), subject in each case to the terms and conditions of the applicable insurance policies. Buyer shall pay or reimburse the Company for any out-of-pocket expenses in connection with the Company's compliance with this <u>Section 6.3(c)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 <u>Confidentiality</u>. Following the Closing, each applicable Selling Party agrees to, and shall cause its respective agents, representatives, Affiliates, employees, officers and directors to, treat and hold as confidential all confidential documents and information relating to the Business and the affairs of the Company Entities to the extent related to the Acquired Assets or Assumed Liabilities, including any notes, analyses, compilations, studies, forecasts, interpretations or other documents that are derived from, contain, reflect or are based upon any such information (the "<u>Confidential Information</u>") and refrain from using any Confidential Information except in connection with this Agreement, and deliver promptly to the Buyer, at the Buyer's request, all Confidential Information (and all copies thereof in whatever form or medium) in its possession or under its control. Notwithstanding the foregoing, Confidential Information shall not include information that, at the time of disclosure, is available publicly and was not disclosed in breach of this Agreement. In the event that any Selling Party or any of its respective agents, representatives, Affiliates, employees, officers or directors becomes legally compelled to disclose any Confidential Information, such Person shall provide the Buyer with prompt written notice of such requirement so that the Buyer may seek a protective order or other remedy or waive compliance with the provisions of this <u>Section 6.4</u>. In the event that a protective order or other remedy is not obtained or if the Buyer waives compliance with this <u>Section 6.4</u>, such Person shall furnish only that portion of such Confidential Information that is legally required to be provided and exercise its reasonable best efforts to obtain assurances that confidential treatment will be accorded such information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 <u>Tax Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Transfer Taxes</u>. Any transfer, documentary, sales, use, value added, excise, stock transfer, stamp, recording, registration and any similar Taxes, including any penalties and interest thereon, that become payable in connection with the purchase and sale of the Acquired Assets contemplated by this Agreement ("<u>Transfer Taxes</u>") shall be paid out of the Wind Down Budget. For the avoidance of doubt, "Transfer Taxes" shall not include any income Taxes. The party required by Applicable Law to file the applicable Transfer Tax return shall timely do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Apportioned Taxes</u>. In any case under this Agreement involving a Tax period that includes (but does not end on) the Closing Date (a "<u>Straddle Period</u>"), (i) all real property Taxes, personal property Taxes and similar ad valorem obligations levied with respect to the Acquired Assets ("<u>Property Taxes</u>") for the Pre-Closing Tax Period shall be equal to the amount of such Property Taxes for the entire Straddle Period multiplied by a fraction, the numerator of which is the number of days during the Straddle Period that are in the portion of the Straddle Period on the Closing Date and the denominator of which is the number of days in the Straddle Period; and (ii) Taxes (other than Property Taxes) shall be computed as if such taxable period ended on the end of the Closing Date (and for such purposes, the taxable period of any partnership or other pass-through entity, or any non-U.S. entity in which such Person holds a beneficial interest, directly or indirectly, shall be deemed to terminate at such time) based on an interim closing of the books. Except as otherwise provided under this Agreement, the Company Entities shall be liable for the amount of such Taxes attributable to the Pre-Closing Tax Period, and the Buyer shall be liable for the amount of such Taxes (other than Excluded Taxes) attributable to the Post-Closing Tax Period, as allocated pursuant to the preceding sentence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Intended Tax Treatment</u>. The Parties agree that the transfer of the sale of the Acquired Assets to the Buyer is intended to be treated as a taxable acquisition of assets and the Parties shall prepare and file all relevant U.S. federal, state, and local, income tax returns consistent with such intended treatment absent a contrary "determination" (within the meaning of Section 1313(a) of the Code).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Cooperation on Tax Matters</u>. The Parties shall cooperate fully, as and to the extent reasonably requested by any other Party, in connection with the filing of Tax Returns, and any audit, litigation or other proceeding with respect to Taxes relating to the Acquired Assets. Such cooperation shall include the retention and (upon the other Party's reasonable request) the provision of records and information which are reasonably relevant to any such audit, litigation or other proceeding concerning an amount of Taxes related to the Acquired Assets and making employees available on a mutually convenient basis to provide additional information and explanation of any material provided hereunder. Each Party shall provide to the others, within ten (10) Business Days of the receipt thereof, any tax related communications and notices it receives which may impact the other Party's Tax Liability or filing responsibilities associated with the Acquired Assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Bulk Sale</u>. The Parties hereby agree to reasonably cooperate to satisfy the requirements of bulk sales laws with respect to the transactions contemplated by this Agreement. Tax clearance certificates or other receipt evidencing payment of taxes due may be obtained after the Closing; provided that Selling Parties, in the event the certificate or receipt is obtained after the Closing, from and after the Closing, will cooperate with Buyer and take all actions necessary, and pay all payments, fines, taxes, or assessments, in each case that are required to obtain such certificates in form and substance reasonably acceptable to Buyer. The Selling Parties acknowledge and agree that the covenants and agreements set forth in this <u>Section 6.5(e)</u> are to be performed after Closing, and will survive the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>[Reserved]</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Purchase Price Allocation for Tax Purposes</u>. Within ninety (90) days after the Closing, the Buyer shall prepare the Allocation Schedule which shall be deemed final and shall be binding upon the Parties. Except as otherwise required by a "determination" within the meaning of Section 1313(a) of the Code, the Parties shall file all Tax Returns (including amended returns and claims for refunds) and cooperate in the filing of any information reports (including Internal Revenue Service Form 8594) consistent with this <u>Section 6.5(g)</u> and the allocations set forth on such Allocation Schedule and shall not take any position for applicable Tax purposes inconsistent therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6 <u>Employee and Related Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Prior to the Closing, the Buyer will, or will cause one of its Affiliates to, make an offer of at-will employment or engagement, respectively, on terms that the Buyer and its Affiliates determine in their sole discretion, to each Business Employee (each, an "<u>Offer Employee</u>") and each Business Contingent Worker (each, an "<u>Offer Contingent Worker</u>"), as determined by the Buyer in its sole discretion, each such offer to be effective, and subject to the occurrence of, the Closing (respectively, an "<u>Employment Offer</u>" or an "<u>Engagement Offer</u>," and each, an "<u>Offer</u>"). Each Offer must provide, as a condition to accepting employment or engagement, respectively, with the Buyer or such Affiliate, that the Offer Employee or Offer Contingent Worker, respectively, resign from employment or service with the applicable service recipient as of immediately prior to the Closing. Each Offer Employee and Offer Contingent Worker who accepts an Offer is referred to herein as a "<u>Transferred Service Provider</u>." The Company Entities hereby consent to the hiring by the Buyer or any of its Affiliates of each Transferred Service Provider and agree not to enforce any non-competition or similar covenant that could, but for this provision, prevent such Transferred Service Provider from fulfilling the terms and conditions of his, her, or its services to the Business following the Closing. The Company Entities will make the Business Employees and Business Contingent Workers reasonably available to the Buyer or its Affiliates for purposes of determining which such individuals will receive Offers and will otherwise provide reasonable cooperation in Buyer's evaluation of and communication with such individuals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the Buyer determines that it is impractical or illegal for a Business Employee or Business Contingent Worker who would have been a Transferred Service Provider to be a Transferred Service Provider at the Closing (a "<u>Delayed Transfer Service Provider</u>"), such Delayed Transfer Service Provider will remain employed or engaged by the applicable pre-Closing service recipient until the date on which the Buyer determines that such delay is no longer necessary, and during such period such Delayed Transfer Service Provider will provide services to the Buyer and its Affiliates pursuant to the terms and conditions of an Employee Leasing Agreement to be entered into prior to the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) For the avoidance of doubt, and without limiting the generality of <u>Section 2.2(c)(2)</u>, the Company Entities will retain and bear all Employee Liabilities and the Buyer and its Affiliates will not assume or otherwise incur any obligation with respect to any Employee Liabilities, including, without limitation any Liabilities or obligations with respect to any Employee Benefit Plan or any obligation to provide coverage under COBRA or Sections 601 through 608 of ERISA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The provisions of this <u>Section 6.6</u> are solely for the benefit of the Parties, and no provision of this <u>Section 6.6</u> will create any third-party beneficiary or other rights in any current or former Business Employee or Business Contingent Worker or any Transferred Service Provider (including any dependent or beneficiary thereof) in respect of the terms and conditions of employment or engagement with, or any benefits that may be provided by, the Buyer or any of its Affiliates. Nothing herein will be construed as an amendment to any Employee Benefit Plan for any purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7 <u>Certain Financial Statements</u>. The Company shall use reasonable best efforts to prepare in accordance with GAAP and deliver to Buyer and the Required Consenting Senior Noteholder, as soon as practicable, but in no event later than December 15, 2025, (i) an audited consolidated balance sheet, income statement, statement of cash flows, and stockholders' equity statement of the Company as of and for the period ended December 31, 2024, in each case, together with the notes and schedules thereto, (ii) an unaudited consolidated balance sheet, income statement, statement of cash flows, and stockholders' equity statement of the Company as of and for the nine months ended September 30, 2025 and September 30, 2024, in each case, together with the notes and schedules thereto, if and as applicable, and (iii) an unaudited consolidated income statement and stockholders' equity statement of the Company for the three months ended September 30, 2025 and September 30, 2024 in each case, together with the notes and schedules thereto, if and as applicable. The Company Entities agree, in connection with the preparation of any financial statements described above, after execution by Buyer and the Required Consenting Senior Noteholder of such reasonable acknowledgment or non-reliance letters as the Company's auditors may reasonably request, to permit access to the work papers related to the preparation of such financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8 <u>Intellectual Property License</u>. Upon Closing, and subject to the terms and conditions set forth herein, Buyer grants to Company a limited, non-exclusive, royalty-free, non-transferable, non-assignable, non-sublicensable license (the "<u>License</u>") to use the specific Intellectual Property listed hereto on Schedule 6.8 (the "<u>Licensed IP</u>") solely for the limited purpose of conducting activities necessary to wind-down the business of the Company in connection with the Liquidation Proceedings. The License shall terminate automatically without prior notice or legal action upon the earlier of (i) the completion of the Liquidation Proceedings, or (ii) one year following the Closing Date. During the term of the License, Buyer retains the right to inspect the Company's use of the Licensed IP to ensure compliance with the terms and conditions set forth herein. Upon expiration of the License, Company will cease any and all use of the Licensed IP and shall return to Buyer or destroy any materials that use or practice the Intellectual Property. The Company shall indemnify Buyer from any and all third-party claims arising from the Company's use of the Intellectual Property during the term of the License.

**<u>ARTICLE 7</u>**

<u>CONDITIONS TO CLOSING</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 <u>Buyer's Closing Conditions and Deliverables of the Selling Parties</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The following are conditions precedent to the Buyer's obligations to effect the Closing hereunder (any of which may be waived in writing by Buyer, to the extent permitted by Applicable Law): (i) no federal or state court of competent jurisdiction or other Governmental Authority shall have enacted any Applicable Law or issued, promulgated, enforced or entered any order, decree, judgment, injunction or other ruling (whether temporary, preliminary or permanent), in any case which is in effect and which prevents or prohibits consummation of the transactions contemplated by this Agreement and the Ancillary Agreements; (ii) Buyer shall have received all Owned Real Property Deliverables in form and substance acceptable to Buyer; (iii) the Title Company shall be committed to issue each Title Policy insuring that fee simple title to the applicable Owned Real Property is vested in Buyer (or its designee) as of the Closing Date; (iv) the RSA shall not have been terminated and shall be in full force and effect and no termination event, default or event of default arising thereunder shall have occurred; (v) the New Money Financings shall have closed or are closing substantially simultaneously with the Closing (and all Transaction Expenses (as defined in the RSA) shall be paid substantially simultaneously with the Closing); (vi) the Consulting Agreement shall have been executed and delivered by the Consulting Party; (vii) the Consulting Party Financing Opportunity shall have been conducted and, if elected by the Consulting Party, consummated and funded in accordance with the RSA; (viii) all New First Lien Debt Documents shall have been executed by the applicable parties thereto and delivered, all conditions to the consummation of the transactions contemplated thereunder shall have been satisfied or waived, and all New First Lien Debt Documents shall each be in full force and effect and the New First Lien Debt shall have been issued; (ix) the Star Buds Lessor Parties shall have consented in writing to the assignment of the Star Buds Leases to Buyer, which Star Buds Leases shall be amended on the terms of the Star Buds Term Sheet and Star Brands LLC shall have consented in writing to the assignment of the TLA; (x) the representations and warranties of such Company Entity set forth in <u>Article 3</u> and the representations and warranties of the Collateral Agent set forth in <u>Article 4</u> are true and correct in all material respects as of the Closing Date; (xi) each Company Entity and the Collateral Agent shall have performed in all material respects all of the covenants and agreements required to be performed by it under this Agreement prior to or at the Closing; (xii) the amended and restated limited liability company agreement of the Buyer shall be in effect (or take effect substantially simultaneously with the Closing); and (xiii) Buyer shall have received the items set forth <u>Section 7.1(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At the Closing, the applicable Company Entity or the Collateral Agent shall deliver or cause to be delivered to the Buyer each of the following, each executed, acknowledged and notarized, as applicable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) executed counterparts of each Ancillary Agreement to which any Company Entity is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) each Company Entity and the Collateral Agent shall deliver a certificate executed by an authorized officer of each applicable Company Entity or the Collateral Agent certifying that the representations and warranties of such Company Entity set forth in <u>Article 3</u> and the representations and warranties of the Collateral Agent set forth in <u>Article 4</u> are true and correct in all material respects as of the Closing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) each Company Entity and the Collateral Agent shall deliver a certificate executed by an authorized officer of each applicable Company Entity and the Collateral Agent certifying each Company Entity and the Collateral Agent shall have performed in all material respects all of the covenants and agreements required to be performed by it under this Agreement prior to or at the Closing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) copies
 of all applicable consents set forth on <u>Schedule 6.1(e)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) a certificate of the Secretary of State of the applicable State stating that such Company Seller is in good standing, dated as of a date not earlier than ten (10) Business Days prior to the Closing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) a copy, as applicable, of (x) the certificate of formation (or similar organizational documents), as amended, of the applicable Company Seller certified by the Secretary of State of the applicable State, dated as of a date not earlier than ten (10) Business Days prior to the Closing and accompanied by a certificate of the Secretary of the applicable Company Seller, dated as of the Closing, stating that no amendments have been made to such organizational documents since such date, (y) the operating agreement (or similar organizational documents) of the applicable Company Seller, certified by the Secretary of the applicable Company Seller, and (z) the resolutions of the applicable Company Seller's board of managers or directors (or similar governing body) and the equityholders or members necessary to authorize the execution, delivery and performance of this Agreement and the Ancillary Agreements and approving the consummation of the transactions contemplated hereby and thereby, in each case, certified by a Secretary of such Company Seller;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) a special warranty deed for each Owned Real Property transferring fee simple ownership of the Owned Real Property to Buyer (or its designee), in form and substance acceptable to Buyer, in each case subject only to Post-Closing Permitted Liens;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) all maintenance records and operating manuals pertaining to each Owned Real Property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) all keys, combinations and security codes for all locks and security devices for each Owned Real Property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) notices to those entities providing services to each Owned Real Property, including utility companies, which Buyer desires to retain, in form and substance reasonably acceptable to Buyer, and an assignment and assumption of such service contracts for each Owned Real Property, in form and substance acceptable to Buyer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) a FIRPTA certificate from each applicable Company Seller of each Owned Real Property, in form and substance acceptable to Buyer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) such evidence or documents as may reasonably be required by Buyer or the Title Company evidencing the status and capacity of the applicable Company Seller and the authority of the applicable Company Seller and the person or persons who are executing the various documents on behalf of such Company Seller in connection with the transfer of each Owned Real Property in accordance with the terms of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) all transfer and other Tax declarations for each Owned Real Property as may be required by Applicable Law in connection with the transactions contemplated by this Agreement, duly executed and sworn to by the applicable Company Seller;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) copies of any certificates of occupancy pertaining to each Owned Real Property, if any;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) copies
 of all Permits for each Owned Real Property, if any;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16) estoppels in customary form from the landlord under each Material Lease, dated no earlier than the date that is thirty (30) days prior to the Closing Date, indicating that the applicable Lease is in full force and effect and free from any breach or default on the part of the tenant thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17) certificates
 of title to each vehicle included as an Acquired Asset;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18) assignments and assumptions of Material Leases and landlord consents ("<u>Lease Assignments</u>") applicable to such Company Seller for each Material Lease in substantially the form attached hereto as <u>Exhibit B</u> (or as otherwise reasonably acceptable to the Buyer), executed by each lessor, lessee or other contract party under any lease, license, sublease or similar occupancy agreement governing any parcel of Leased Real Property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19) Bill of Sale, duly executed by each applicable Company Seller, in the form attached hereto as <u>Exhibit A</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20) Intellectual Property Assignments, duly executed by each applicable Company Seller, in the form attached hereto as <u>Exhibit C</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21) the executive employment agreements entered into between Buyer or its designated Affiliate and each of the individuals set forth on <u>Schedule 7.1(b)</u> (collectively, the "<u>Executive Employment Agreements</u>"), duly executed by each such Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22) if applicable, the Employee Leasing Agreement, duly executed by each applicable Company Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23) IRS Form W-9;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24) evidence from the Collateral Agent of the release of (i) all Liens on the Transferred Collateral Assets transferred pursuant to this Agreement in accordance with Section 9-617 of the UCC, and (ii) all Liens on any Non-Transferred Collateral Assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25) evidence from the Company of the release of all Liens (other than Post-Closing Permitted Liens) on the Non-Collateral Transferred Assets; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26) such other documents or instruments as the Buyer may reasonably request to effect the transactions contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 <u>Seller Parties' Closing Conditions and Deliverables of the Buyer</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The following are conditions precedent to the applicable Selling Parties' obligations to effect the Closing hereunder (any of which may be waived in writing by the Selling Parties, to the extent permitted by Applicable Law), (i) no federal or state court of competent jurisdiction or other Governmental Authority shall have enacted any Applicable Law or issued, promulgated, enforced or entered any order, decree, judgment, injunction or other ruling (whether temporary, preliminary or permanent), in any case which is in effect and which prevents or prohibits consummation of the transactions contemplated by this Agreement and the Ancillary Agreements, (ii) the representations and warranties of Buyer set forth in <u>Article 5</u> are true and correct in all material respects as of the Closing Date, except to the extent such failure to be so true and correct would not prevent the ability of Buyer to effect the Closing hereunder, (iii) Buyer shall have performed in all material respects all of the covenants and agreements required to be performed by it under this Agreement prior to or at the Closing, except to the extent such failure to perform would not prevent the ability of Buyer to effect the Closing hereunder, and (iv) the Company shall have received the items set forth in <u>Section 7.2(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At the Closing, the Buyer shall deliver or cause to be delivered
 to the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) executed counterparts of each Ancillary Agreement to which the Buyer is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) executed counterparts of the Executive Employment Agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) executed counterparts to the Lease Assignments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) executed counterparts to the Employee Leasing Agreement, if such agreement is deemed required;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) a certificate executed by an authorized officer of Buyer certifying the representations and warranties of Buyer set forth in <u>Article 5</u> are true and correct in all material respects as of the Closing Date, except to the extent such failure to be so true and correct would not prevent the ability of Buyer to effect the Closing hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) a certificate executed by an authorized officer of Buyer certifying Buyer shall have performed in all material respects all of the covenants and agreements required to be performed by it under this Agreement prior to or at the Closing, except to the extent such failure to perform would not prevent the ability of Buyer to effect the Closing hereunder; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) a copy of the resolutions of the Buyer's board of managers authorizing the execution, delivery and performance of this Agreement and the Ancillary Agreements and approving the consummation of the transactions contemplated hereby and thereby, certified by a duly authorized officer of the Buyer.

**<u>ARTICLE 8</u>**

<u>TERMINATION</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 <u>Termination</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Mutual Termination</u>. This Agreement may be terminated at any time prior to the Closing by mutual written consent of the Collateral Agent (acting solely in its secured-party capacity under the Senior Notes Indenture) and Buyer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Buyer Termination</u>. This Agreement may be terminated at any time prior to the Closing by Buyer following any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the failure of the Collateral Agent or the Company Parties to achieve any of the Milestones (as defined in the RSA) in accordance with the terms of the RSA (subject to any mutually agreed extensions thereof), that has not been cured within ten (10) Business Days after receiving written notice thereof from Buyer (if capable of cure);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) a material breach by the Collateral Agent or the Company Parties of the terms of the RSA which has not been cured within ten (10) Business Days after receiving written notice thereof from Buyer (if capable of cure) and results in the termination of the RSA;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) (i) any of the representations or warranties of any Company Entity in <u>Article 3</u> or the Collateral Agent in <u>Article 4</u> is or becomes untrue or inaccurate such that the condition set forth in <u>Section 7.1(a)(x)</u> would not be satisfied or (ii) there has been a breach by the Company Entities or the Collateral Agent of any of their covenants or agreements contained in this Agreement such that the condition set forth in <u>Section 7.1(a)(xi)</u> would not be satisfied, and, in each case of clauses (i) and (ii), such breach or inaccuracy (if capable of cure) has not been cured by the Company Entities or the Collateral Agent within ten (10) Business Days after delivery of written notice thereof by the Buyer to the Company or the Collateral Agent (or, if less, any shorter period of time that remains between such notice and the Outside Date); provided that Buyer shall not be entitled to terminate pursuant to this <u>Section 8.1(b)(3)</u> if such inaccuracy or breach was primarily caused by the failure of Buyer to perform in any material respect any of the covenants or agreements to be performed by it prior to the Closing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) the Requisite Regulatory Approvals (x) have not been approved within one hundred eighty (180) days after such approval has been sought from the applicable Governmental Authority or (y) have been rejected by the applicable Governmental Authority;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) a law or regulation is enacted, adopted, promulgated or enforced that makes consummation of the transactions contemplated hereby illegal or otherwise prohibited or if the consummation of the transactions contemplated hereby would violate any order of any governmental authority having competent jurisdiction; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) anytime on or following the Outside Sale Transaction Effective Date (the "Outside Date").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Collateral Agent Termination. This Agreement may be terminated at any time prior to the Closing by the Collateral Agent, acting solely in its capacity as secured party under the Senior Notes Indenture, upon the occurrence of any of the following: (1)(i) any of the representations or warranties of Buyer in <u>Article 5</u> is or becomes untrue or inaccurate such that the condition set forth in <u>Section 7.2(a)(ii)</u> would not be satisfied, or (ii) there has been a breach by Buyer of any of its covenants or agreements contained in this Agreement such that the condition set forth in <u>Section 7.2(a)(iii)</u> would not be satisfied, and, in each case of clauses (i) and (ii), such breach or inaccuracy (if capable of cure) has not been cured by Buyer within ten (10) Business Days after delivery of written notice thereof by the Collateral Agent to Buyer (or, if less, any shorter period of time that remains between such notice and the Outside Date); provided that the Collateral Agent shall not be entitled to terminate pursuant to this <u>Section 8.1(c)(1)</u> if such inaccuracy or breach was primarily caused by the failure of the Collateral Agent to perform in any material respect any of its covenants or agreements to be performed by it prior to the Closing; (2) Buyer has otherwise materially breached the RSA or failed to perform any obligation thereunder required to be performed by Buyer prior to the Closing, and such breach or failure (if capable of cure) has not been cured within ten (10) Business Days after written notice thereof from the Collateral Agent to Buyer; or (3) a law or regulation is enacted, adopted, promulgated or enforced that makes consummation of the transactions contemplated hereby illegal or otherwise prohibited or if the consummation of the transactions contemplated hereby would violate any order of any governmental authority having competent jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Automatic Termination</u>. Unless otherwise agreed in writing by the Buyer, the Collateral Agent and the Company within five (5) Business Days of the valid termination of the RSA, this Agreement shall automatically terminate upon, and without further action of any Party, five (5) Business Days after the valid termination of the RSA in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>No Company Termination</u>. The Company Entities acknowledge and agree that they have no right to terminate, rescind, or otherwise avoid this Agreement and that their execution hereof is solely to effectuate the transactions contemplated by the RSA and the Collateral Agent's exercise of its remedies under Article 9 of the UCC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 <u>Effect of Termination</u>. In the event of termination of this Agreement in accordance with Section 8.1, this Agreement shall immediately terminate and have no further force and effect and there shall be no Liability on the part of any Party to any other Party under this Agreement, provided, however, that nothing contained herein shall relieve any Party hereto from liability for fraud or willful breach of this Agreement prior to such termination.

**<u>ARTICLE 9</u>**

<u>MISCELLANEOUS</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 <u>Survival</u>. All representations, warranties, covenants and agreements set forth in this Agreement, the Disclosure Schedules, or in any certificate or instrument delivered in connection herewith shall survive until the Closing and all such representations, warranties, covenants and agreements shall terminate on the date on which the Closing occurs; provided, that any covenants and agreements that by their terms are intended to survive the Closing shall survive until performed or otherwise in accordance with their terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 <u>Amendment</u>. This Agreement may not be amended or modified except (a) by an instrument in writing signed by or on behalf of the Buyer and the Collateral Agent (b) by a waiver in accordance with <u>Section 9.3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 <u>Waiver</u>. Any Party to this Agreement may waive compliance or performance of any provision of this Agreement that is intended for the benefit of such waiving Party. Any such extension or waiver shall be valid only if set forth in a writing executed by the Party to be bound thereby. Any waiver of any term or condition shall not be construed as a waiver of any subsequent breach or waiver of the same term or condition or as a waiver of any other term or condition of this Agreement. The failure of any Party to assert any of its rights under this <u>Section 9.3</u> shall not constitute a waiver of any of such rights. No course of dealing between or among any persons having any interest in this Agreement shall be deemed effective to modify, amend or discharge any part of this Agreement or any rights or obligations of any Party under or by reason of this Agreement. All rights and remedies existing under this Agreement are cumulative to, and not exclusive of, any rights or remedies otherwise available.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 <u>Specific Performance</u>. The Company Sellers agree and acknowledge that their Business is unique and recognize and affirm that in the event of a breach of this Agreement by any Company Seller, money damages may be inadequate and Buyer may have no adequate remedy at law. Accordingly, the Company Sellers agree that the Buyer shall have the right, in addition to any other rights and remedies existing in its favor, to enforce its rights and the Company Sellers' obligations hereunder by an action or actions for equitable relief, including injunction and specific performance. If any such action is brought by the Buyer to enforce this Agreement, the Company Sellers hereby waive the defense that there is an adequate remedy at law or the requirement for the posting of any bond or similar security. For the avoidance of doubt, the Collateral Agent shall have no obligation under this <u>Section 9.4</u> and no specific-performance remedy shall be available against the Collateral Agent except to the extent of its express obligations under this Agreement in its secured-party capacity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 <u>Expenses</u>. Except as otherwise expressly provided in the RSA (including the payment of Transaction Expenses (as defined in the RSA)), each of the Parties hereto shall pay all of its own fees, costs and expenses (including fees, costs and expenses of legal counsel, investment bankers, brokers or other representatives and consultants and appraisal fees, costs and expenses) incurred in connection with the negotiation of this Agreement and the Ancillary Agreements, and the consummation of the transactions contemplated hereby and thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6 <u>Notices</u>. All notices, claims, demands and other communications given or delivered under this Agreement shall be in writing and shall be deemed to have been duly made or given when personally delivered, mailed by first class mail, return receipt requested, or delivered by express courier service or via facsimile (with original copy to follow) to the respective Parties at the following addresses (or such other address for a Party as shall be specified in a notice given in accordance with this <u>Section 9.6</u>):

If to the Company Entities:

Medicine Man Technologies Inc.

865 N Albion St.

3<sup>rd</sup> Floor

Denver, CO 80220

Attention: Christine Jones, Chief Legal Officer

Email: [\*\*\*]

with a copy (which shall not constitute notice) to:

Polsinelli PC

600 Third Avenue, 42<sup>nd</sup> Floor

New York, NY 10016

Attention: Mark Joachim

E-mail: [\*\*\*]

If to the Collateral Agent or the Buyer:

Chicago Atlantic Admin, LLC

420 N Wabash Avenue, Suite 500

Chicago, IL 60611

Attention: Peter Sack

Email: [\*\*\*]

with a copy (which shall not constitute notice) to:

Paul Hastings LLP

200 Park Avenue

New York, NY 10166

Attention: Alex Cota; Robert Nussbaum; Josh Ratner

E-mail: [\*\*\*]

and

Eversheds Sutherland (US) LLP

227 W. Monroe St., Suite 6000

Chicago, IL 60606

Attention: Craig Alcorn

Email: [\*\*\*]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7 <u>Binding Agreement; Assignment</u>. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns; provided that neither this Agreement nor any of the rights, interests or obligations hereunder may be assigned by operation of law or otherwise without the prior written consent of the Company, Collateral Agent and the Buyer; <u>provided</u>, <u>however</u>, that notwithstanding the foregoing, the Buyer may at any time in its sole discretion and without the consent of any other Party assign, in whole or in part, (a) its right to purchase the Acquired Assets and assume the Assumed Liabilities to one or more of its Affiliates (provided that no such assignment shall release the Buyer from its obligations hereunder); (b) its rights under this Agreement and the Ancillary Agreements for collateral security purposes to any lender providing financing to the Buyer, such permitted assign or any of their Affiliates, and any such lender may exercise all of the rights and remedies of such assignee hereunder and thereunder; and (c) its rights under this Agreement and the Ancillary Agreements to any subsequent purchaser of the Buyer or any material portion of its assets (whether such sale is structured as a sale of stock, or other equivalent sale of assets, merger, recapitalization or otherwise). If this Agreement is assigned pursuant to this <u>Section 9.7</u>, such assignee shall agree in writing to be bound by all of the terms, conditions and provisions contained in this Agreement and no such assignment shall release the applicable Party from their obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.8 <u>Severability</u>. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under Applicable Law, but if any provision of this Agreement is held to be prohibited by or invalid under Applicable Law or public policy, such provision shall be ineffective only to the extent of such prohibition or invalidity, and all other terms of this Agreement shall remain in full force and effect for so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.9 <u>Disclosure Schedules</u>. The disclosure of any matter in any Disclosure Schedule to this Agreement shall be deemed to be a disclosure with respect to any other section or subsection of this Agreement with respect to which its relevance is reasonably apparent on its face for all purposes of this Agreement, but shall expressly not be deemed to constitute an admission by the Buyer or the Company Entities, or to otherwise imply, that any such matter is material for the purposes of this Agreement. Matters reflected in the Disclosure Schedules are not necessarily limited to matters required by this Agreement to be set forth on the Disclosure Schedules, and any such additional matters are for informational purposes only and do not necessarily include other matters of a similar nature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.10 <u>Construction</u>. The Parties have participated jointly in the negotiation and drafting of this Agreement and the other agreements, documents and instruments executed and delivered in connection herewith with sophisticated counsel. In the event an ambiguity or question of intent or interpretation arises, this Agreement and the agreements, documents and instruments executed and delivered in connection herewith shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any provisions of this Agreement and the agreements, documents and instruments executed and delivered in connection herewith. The Parties intend that each representation, warranty and covenant contained herein shall have independent significance. If any Party has breached any representation, warranty or covenant contained herein in any respect, the fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless of the relative levels of specificity) that the Party has not breached shall not detract from or mitigate the fact that the Party is in breach of the first representation, warranty or covenant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.11 <u>Entire Agreement</u>. This Agreement, the Disclosure Schedules identified in this Agreement and the other documents referred to herein including, without limitation, the RSA, contain the entire agreement between the Parties and supersede any prior understandings, agreements or representations by or between the Parties, written or oral, which may have related to the subject matter hereof in any way.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.12 <u>Exculpatory Provisions</u>. Notwithstanding anything to the contrary in this Agreement or any Ancillary Agreement, (i) the Collateral Agent shall not be liable to any Person for any breach by any Company Entity or the Buyer of their respective representations, warranties, covenants or other agreements in connection with this Agreement or Ancillary Agreement or the transactions contemplated by this Agreement, and (ii) the Collateral Agent shall not have any liability under or in respect of this Agreement or any Ancillary Agreement or the transactions contemplated by this Agreement for any and all Losses arising out of or relating to any claim by any Person (including any Company Seller or its creditors) challenging the validity of this Agreement or the Sale Proceeding, except to the extent finally determined to have resulted from the Collateral Agent's gross negligence or willful misconduct.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.13 <u>Counterparts</u>. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which taken together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.14 <u>Governing Law; Submission to Jurisdiction; Selection of Forum.</u> THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT (WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE) SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING ITS UNIFORM COMMERCIAL CODE, WITHOUT REGARD TO ANY CONFLICT OF LAWS PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION. EACH PARTY AGREES THAT IT SHALL BRING ANY ACTION OR PROCEEDING IN RESPECT OF ANY CLAIM ARISING OUT OF OR RELATED TO THIS AGREEMENT EXCLUSIVELY IN THE FEDERAL DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK (LOCATED IN NEW YORK CITY, NEW YORK) OR, IF SUCH COURT DOES NOT HAVE JURISDICTION, IN THE STATE COURTS OF NEW YORK LOCATED IN NEW YORK COUNTY, BOROUGH OF MANHATTAN. SOLELY IN CONNECTION WITH CLAIMS ARISING UNDER THIS AGREEMENT: (a) each Party irrevocably submits to the exclusive jurisdiction of such courts; (b) each Party waives any objection to laying venue in any such action or proceeding in any such court; and (c) each Party waives any objection that any such court is an inconvenient forum or does not have jurisdiction over such Party. For the avoidance of doubt, the Parties acknowledge that Section 9-601 et seq. of the UCC (as in effect in the State of New York) shall govern the enforcement of the Collateral Agent's rights and remedies with respect to the Collateral Assets. Notwithstanding the foregoing, the Parties acknowledge and agree that (i) the Business and the Acquired Assets are regulated primarily under applicable state and local laws governing the cultivation, manufacture, distribution, sale and possession of cannabis and cannabis-related products (collectively, the "<u>Applicable State Cannabis Laws</u>"); (ii) to the extent such Applicable State Cannabis Laws constitute the sole legal requirements governing the issuance, maintenance, transfer or compliance of any license, permit, authorization or approval required for the ownership or operation of the Business, such Applicable State Cannabis Laws shall exclusively govern the Parties' respective rights and obligations with respect thereto; and (iii) nothing in this Agreement shall be construed as an admission by any Party regarding the applicability, validity or enforceability of any Federal Cannabis Law or as requiring any Party to violate Applicable Law. To the maximum extent permitted by Applicable Law, each Party agrees that the fact that cannabis is or may be treated as illegal under Federal Cannabis Laws shall not be asserted as, and does not constitute, a defense to the enforcement of this Agreement or any Ancillary Agreement, and each Party hereby irrevocably waives any such defense in any dispute or Proceeding arising out of or relating to this Agreement or any Ancillary Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.15 <u>Parties in Interest</u>. Nothing in this Agreement, express or implied, is intended to confer on any person other than the Parties and their respective successors and assigns any rights or remedies under or by virtue of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.16 <u>Regulatory Information</u>. This Agreement and the transactions contemplated hereby may be subject to review, comment or approval by one or more Governmental Authorities (including, for the avoidance of doubt, state or local cannabis regulatory authorities). If any such Governmental Authority determines that any term of this Agreement must be modified as a condition to approval or continued effectiveness of any Seller License or as a condition to any Requisite Regulatory Approval, the Parties shall negotiate in good faith to amend this Agreement (but the Buyer shall be under no obligation to so amend this Agreement) to implement the minimum changes required by such Governmental Authority while preserving to the greatest extent possible the original intent of the Parties and the economic allocation of risk and benefit reflected herein. Any such amendment shall be documented pursuant to Section 9.2. For the avoidance of doubt, Section 9.8 (Severability) shall apply in addition to this Section 9.16.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.17 <u>Schedule Supplement</u>. From time to time prior to the Closing, but no more than one (1) time prior to the Closing Date, the Company Entities shall have the right (but not the obligation) to supplement or amend the Disclosure Schedules hereto with respect to any matter hereafter arising (each a "<u>Schedule Supplement</u>"). Any disclosure in any such Schedule Supplement shall not be deemed to have cured any inaccuracy in or breach of any representation or warranty contained in this Agreement, including for purposes of the termination rights contained in this Agreement; provided, however*,* that if as a result of matters disclosed in such Schedule Supplement that are matters in an aggregate amount not in excess of $100,000, Buyer has the right to, but does not elect to, terminate this Agreement within twenty (20) days of its receipt of such Schedule Supplement, then Buyer shall be deemed to have irrevocably waived any right to terminate this Agreement with respect to such matter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.18 <u>Press Releases and Announcements</u>. No press release or public statement related to this Agreement or the transactions contemplated hereby shall be issued without the prior written consent of the Buyer, except as required by Applicable Law.

[*Signature Pages Follow*]

IN WITNESS WHEREOF, each of the Parties hereto has executed this Agreement as of the day and year first above written.

---

| |
|:---|
| **<u>BUYER:</u>** |
| **VIREO HEALTH OF ROCKY MOUNTAIN, LLC** |
| By: |
| Name: |
| Title: |

---

[*Signature Page to Asset Purchase Agreement*]

IN WITNESS WHEREOF, each of the Parties hereto has executed this Agreement as of the day and year first above written.

---

| |
|:---|
| **<u>COLLATERAL AGENT</u>**:** |
| **CHICAGO ATLANTIC ADMIN, LLC** |
| By: |
| Name: |
| Title: |

---

[*Signature Page to Asset Purchase Agreement*]

IN WITNESS WHEREOF, each of the Parties hereto has executed this Agreement as of the day and year first above written.

---

| |
|:---|
| **<u>COMPANY</u>:** |
| **MEDICINE MAN TECHNOLOGIES, INC.** |
| By: |
| Name: |
| Title: |

---

[*Signature Page to Asset Purchase Agreement*]

IN WITNESS WHEREOF, each of the Parties hereto has executed this Agreement as of the day and year first above written.

---

| |
|:---|
| **<u>COMPANY SELLERS</u>:** |
| **[•]** |
| By: |
| Name: |
| Title: |
| **<u>COMPANY NON-SELLERS</u>:** |
| **[•]** |
| By: |
| Name: |
| Title: |

---

[*Signature Page to Asset Purchase Agreement*]

## Exhibit 2.4

**Exhibit 2.4**

***EXECUTION VERSION***

**<u>CERTAIN CONFIDENTIAL INFORMATION (MARKED BY BRACKETS AS "[\*\*\*]") HAS BEEN<br> EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) IS <br> THE TYPE OF INFORMATION THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.</u>**

**THIRD AMENDMENT TO**

**ASSET PURCHASE AGREEMENT**

**THIS THIRD AMENDMENT TO ASSET PURCHASE AGREEMENT** (this "**Amendment**") is made and entered into effective as of March 19, 2026, by and between Vireo Health of Rocky Mountain, LLC, a Delaware limited liability company ("**Buyer**"), and Chicago Atlantic Admin, LLC, a Delaware limited liability company (the "**Collateral Agent**"). Each of Buyer and the Collateral Agent are referred to herein as a "**Party**" and collectively as the "**Parties**".

**BACKGROUND**

Reference is made to that certain Asset Purchase Agreement, dated as of November 13, 2025 (as amended from time to time, including pursuant to that First Amendment to Asset Purchase Agreement dated January 29, 2026, the "**Agreement**"), by and among (a) Buyer, (b) the Collateral Agent, solely in its capacity as the collateral agent under that certain Senior Notes Indenture and related Senior Notes Documents, (c) Medicine Man Technologies, Inc., a Nevada corporation (the "**Company**"), and (d) the Company's Subsidiaries listed on Schedule I and Schedule II of the Purchase Agreement (collectively with the Company, the "**Company Entities**"). The Parties desire to amend the Agreement as set forth herein. Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Agreement.

**AGREEMENT**

For good and valuable consideration, the adequacy and sufficiency of which are hereby acknowledged, the Parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Amendments to Agreement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Section 1.1 of the Agreement is hereby amended by adding the below definition in the appropriate alphabetical order as follows:

""<u>Licensed Premises Property</u>" has the meaning ascribed to such term in <u>Section 2.2(d)</u>.""

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Section 2.2(d) of the Agreement is hereby deleted in its entirety and replaced as follows:

"<u>Assignment of Regulated Assets, Contracts and Rights</u>. Notwithstanding anything to the contrary contained in this Agreement, this Agreement shall not constitute an agreement to assign or transfer (including title) any (i) Contract, (ii) any Seller License, or (iii) any Material Lease to which any such Seller License applies, or any other property or asset located on the premises to which any such Seller License applies and which such assignment or transfer would be restricted by Law unless the corresponding Seller License for such location was transferred or otherwise in effect in the name of Buyer or any of its Subsidiaries (items under this clause (iii) collectively, the "<u>Licensed Premises Property</u>"), if an attempted assignment or transfer thereof, without consent or other approval of a third party or Governmental Authority thereto, would constitute a breach or other contravention thereof or applicable Law or in any way adversely affect the rights of the Buyer or the applicable Company Seller thereunder. In the event that the Closing proceeds without the assignment or transfer of such Contract, Seller License, or Licensed Premises Property, then (i) such asset shall be regarded as an Acquired Asset for purposes of determining the Purchase Price, and (ii) following the Closing, the applicable Company Seller shall use commercially reasonable efforts to obtain the consent or other approval of the other parties or Governmental Authorities to any such Contract, Seller License, or Licensed Premises Property for the assignment or transfer thereof to the Buyer or its applicable Subsidiary, but in no event shall any Party or any of their respective Affiliates be required to pay any consideration, incur any Liabilities, commence or become involved in any litigation or offer or grant any accommodation (financial or otherwise) to any other Person in connection with such efforts to obtain such consent or approval. Unless and until such consent or approval is obtained, or if an attempted assignment or transfer thereof would be ineffective or would adversely affect the rights of the Buyer or the applicable Company Seller thereunder so that the Buyer or its Subsidiary would not in fact receive all rights under such Contract, Seller License, or Licensed Premises Property, the applicable Company Seller and the Buyer will cooperate in an arrangement to the extent not prohibited by Law under which the Buyer or its Subsidiary would obtain the benefits and assume the obligations thereunder to the extent they are Assumed Liabilities in accordance with this Agreement, including subcontracting, sublicensing or leasing to the Buyer or its Subsidiary (if possible), or under which the applicable Company Seller would enforce, for the benefit of the Buyer or its Subsidiary, any and all rights of such Company Seller against a third party thereto. The applicable Company Seller will promptly pay to the Buyer or its Subsidiary when received all monies received by such Company Seller under any such Contracts, Seller Licenses, or Licensed Premises Property, and the Buyer or its Subsidiary shall pay, defend, discharge and perform all Liabilities to the extent they are Assumed Liabilities under such Contracts, Seller Licenses, or Licensed Premises Property. Notwithstanding anything to the contrary in this <u>Section 2.2(d)</u>, (i) nothing in this <u>Section 2.2(d)</u> shall limit the assignment or transfer of any Contract, Seller License, or Licensed Premises Property for which the failure to obtain a third party or Governmental Authority consent or approval would not constitute a breach or other contravention of such Contract, Seller License, or Licensed Premises Property or applicable Law or in any way adversely affect the rights of the Buyer, its Subsidiary or the applicable Company Seller thereunder, and (ii) from and after the Closing and until such time as any Contract, Seller License, or Licensed Premises Property is assigned or transferred to Buyer or its applicable Subsidiary in accordance with applicable Law, the applicable Company Seller may continue to operate the Business in the Ordinary Course of Business and in compliance with Applicable Law, including pursuant to such Seller License and with respect to such Licensed Premises Property, for the benefit of Buyer and its Subsidiaries and subject to the terms of this Agreement, and, for the avoidance of doubt, such continued operation shall not be deemed to limit the effectiveness of the Sale Transaction or the treatment of such assets as Acquired Assets for purposes of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Annex A to the Agreement is hereby amended by adding a sentence to the end of subsection (f) thereof as follows:

"[\*\*\*]."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibit 2 to Annex A to the Agreement is hereby amended by adding "[\*\*\*]" to the end of the list of Domain Names set forth therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Annex B to the Agreement is hereby amended by adding a new subsection (g) at the end thereof as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The Permits described in Schedule 3.14 of the Disclosure Schedules with State License No. [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Miscellaneous</u>. Except as expressly modified by this Amendment, the Agreement (as amended) shall remain unmodified and in full force and effect. The terms of Article 9 of the Agreement shall apply to this Amendment, as applicable, as if fully set forth herein.

*[Signatures appear on the following page.]*

IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed effective as of the day and year first set forth above.

---

| | |
|:---|:---|
| **BUYER:** | **BUYER:** |
| **VIREO HEALTH OF ROCKY MOUNTAIN, LLC** | **VIREO HEALTH OF ROCKY MOUNTAIN, LLC** |
| By: | /s/ John Mazarakis |
| Name: | John Mazarakis |
| Title: | Chief Executive Officer |
| **COLLATERAL AGENT:** | **COLLATERAL AGENT:** |
| **CHICAGO ATLANTIC ADMIN, LLC** | **CHICAGO ATLANTIC ADMIN, LLC** |
| By: | /s/ Peter Sack |
| Name: | Peter Sack |
| Title: | Authorized Person |

---

*[Signature Page to Third Amendment to Asset Purchase Agreement]*

## Exhibit 10.1

**Exhibit 10.1**

**<u>CERTAIN CONFIDENTIAL INFORMATION (MARKED BY BRACKETS AS "[\*\*\*]") HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE OF INFORMATION THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.</u>**

**<u>FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT</u>**

THIS **FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT** (this "<u>Amendment</u>") is dated as of February 26, 2026, among **CO ACQUISITION VEHICLE LLC**, a Delaware limited liability company ("<u>Borrower</u>"), **SIHAM BOUZIANE TIGOUDAR** ("<u>Pledgor</u>"), the Lenders party hereto and **CHICAGO ATLANTIC ADMIN, LLC**, as Administrative Agent (in such capacity, "<u>Administrative Agent</u>").

**<u>RECITALS</u>:**

**WHEREAS**, reference is made to that certain Loan and Security Agreement dated as of September 30, 2025 (the "<u>Existing Loan Agreement</u>"); and

**WHEREAS**, Borrower has requested that Administrative Agent and Lenders agree to amend certain provisions of the Existing Loan Agreement, and, subject to the terms and conditions of this Amendment, Administrative Agent and Lenders have agreed to such request;

**NOW, THEREFORE**, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. <u>Amendments to Loan Agreement</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Existing Loan Agreement is hereby modified and amended by amending and restating the Existing Loan Agreement in its entirety to read in the form of <u>Exhibit A</u> attached hereto (the Existing Loan Agreement, as so amended and as otherwise amended, restated, supplemented or otherwise modified from time to time, the "<u>Loan Agreement</u>"; capitalized terms used herein and not otherwise defined herein shall have the meaning ascribed to such terms in the Loan Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Schedule and Exhibit to the Existing Loan Agreement shall not be modified or otherwise affected hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. <u>Reaffirmation of Obligations</u>**. Each of Borrower and Pledgor hereby (a) reaffirms and confirms (i) the execution and delivery of, and all of its obligations under, the Loan Documents to which it is a party, and agrees that this Amendment does not operate to reduce or discharge Borrower's or Pledgor's obligations under such Loan Documents or constitute a novation of any indebtedness or other obligations under any Loan Documents, and (ii) its guarantees, pledges, grants and other undertakings under the Loan Agreement and the other Loan Documents to which it is a party, (b) agrees that (i) each Loan Document to which it is a party shall continue to be in full force and effect and (ii) all guarantees, pledges, grants and other undertakings thereunder shall continue to be in full force and effect and shall accrue to the benefit of the Secured Creditors and (c) grants, reaffirms and confirms the continuing security interests in its respective assets granted in favor of Administrative Agent pursuant to the Loan Documents. Each of Borrower and Pledgor hereby acknowledges and consents to the transactions contemplated by, and the execution and delivery of, this Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. <u>Release of Pledgor</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to the terms and conditions set forth herein, each of Administrative Agent and Lenders hereby agree that, immediately after the effectiveness of the acquisition of Borrower by a wholly owned direct or indirect Subsidiary of Vireo Growth (the "<u>Acquisition</u>"), (i) Pledgor shall be deemed released from all obligations, agreements and covenants in connection with the Loan Agreement and the other Loan Documents and (ii) all security interests and other Liens that were granted by Pledgor to Administrative Agent, for the benefit of the Secured Creditors, under the Pledge Agreement to which Pledgor is a party in, on or against the assets of Pledgor shall be automatically terminated and released. The foregoing release does not and shall not in any manner affect the obligations and liabilities of Borrower under the Loan Agreement and each of the other Loan Documents, and such obligations and liabilities and each Loan Document shall remain in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Administrative Agent agrees it will, promptly after its confirmation of the closing of the Acquisition and solely at cost and expense of Borrower, file a termination of that certain UCC financing statement number 251002-135002 dated October 2, 2025, filed against Pledgor with the Maryland Department of Assessments and Taxations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. <u>Conditions Precedent to Effectiveness</u>**. This Amendment shall become effective as of the date of this Amendment when, and only when, Administrative Agent shall have received, in form and substance satisfactory to Administrative Agent, counterparts of this Amendment, duly executed by Administrative Agent, Lenders, Borrower and Pledgor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. <u>Release</u>**. As consideration for Administrative Agent and Lenders agreeing to release Pledgor from its obligations set forth in the Loan Agreement and each other Loan Document as provided herein, Pledgor knowingly and voluntarily agrees that, immediately and automatically upon its release from its obligations under the Loan Agreement and any other Loan Document as provided herein, Pledgor shall be deemed to have released, discharged and forever waived and relinquished any and all claims, demands, obligations, liabilities, defenses, affirmative defenses, setoffs, counterclaims, actions and causes of action of whatsoever kind or nature, whether known or unknown, which it has, may have, or might have or may assert now or in the future against Administrative Agent, any Lender, their agents, employees, officers, directors, predecessors, attorneys and all others acting on behalf of or at the direction of Administrative Agent or any Lender (each, "<u>Releasee</u>"), directly or indirectly, arising out of, based upon or in any manner connected with any transaction, event, circumstance, action, failure to act or occurrence of any sort or type, in each case related to, arising from or in connection with the Loans, the Collateral, the Loan Agreement, any other Loan Document or any transaction described therein which occurred, existed, was taken, permitted or begun prior to and through the date on which Pledgor is released from such obligations. Without limiting the generality of the foregoing, Pledgor waives and affirmatively agrees not to allege or otherwise pursue any defenses, affirmative defenses, counterclaims, claims, causes of action, setoffs or other rights it has or may have under, or in connection with, the Loans, the Collateral, the Loan Agreement, any other Loan Document or any transaction described therein as of the date hereof, including, but not limited to, the rights to contest any conduct of Administrative Agent, any Lender or any other Releasee on or prior to the date on which Pledgor is released from such obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6. <u>Incorporation by Reference</u>**. Sections 11.7, 11.13, 11.14 (other than as to governing law) and 11.15 of the Loan Agreement are hereby incorporated by reference, mutatis mutandis, as if such Sections were set forth in full herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7. <u>Miscellaneous</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Amendment, Modification and Waiver</u>. This Amendment may not be amended, and no provision hereof may be waived, except pursuant to a writing signed by each of the parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Governing Law</u>. This Amendment and any claims controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Amendment and the transactions contemplated hereby shall be governed by, and construed in accordance with, the laws of the State of New York, without reference to conflicts of law provisions which would result in the application of the laws of any other jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Severability</u>. Any term or provision of this Amendment that is invalid or unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms and provisions of this Amendment or affecting the validity or enforceability of any of the terms or provisions of this Amendment in any other jurisdiction. If any provision of this Amendment is so broad as to be unenforceable, the provision shall be interpreted to be only so broad as would be enforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Integration</u>. This Amendment, the Loan Agreement (as amended hereby) and the other Loan Documents constitute the entire agreement among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Headings</u>. The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Reference to and Effect on the Loan Agreement and the Other Loan Documents</u>. On and after the date hereof, each reference in the Loan Agreement to "this Agreement", "hereunder", "herein" or words of like import referring to the Loan Agreement, and each reference in the other Loan Documents to the "Loan Agreement", "thereunder", "thereof" or words of like import referring to the Loan Agreement shall mean and be a reference to the Existing Loan Agreement as amended by this Amendment. Except as specifically amended by this Amendment, the Existing Loan Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed and this Amendment shall not be considered a novation. The execution, delivery and performance of this Amendment shall not constitute a waiver of any provision of, or operate as a waiver of any right, power or remedy of Administrative Agent or Lender under, the Existing Loan Agreement or any other Loan Document. This Amendment shall be deemed to be a Loan Document as defined in the Loan Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8. <u>Construction</u>**. This Amendment has been prepared through the joint efforts of all of the parties hereto. Neither the provisions of this Amendment, nor any alleged ambiguity herein, shall be interpreted or resolved against any party on the grounds that such party or its counsel drafted this Amendment, or based on any other rule of strict construction. Each of the parties represents that such party has carefully read this Amendment and that such party knows the contents hereof and has signed the same freely and voluntarily.

[Remainder of page intentionally left blank.]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered effective as of the date hereof.

---

| | |
|:---|:---|
| **<u>BORROWER:</u>** | **<u>BORROWER:</u>** |
| **CO ACQUISITION VEHICLE LLC** | **CO ACQUISITION VEHICLE LLC** |
| By: | /s/ Siham Bouziane Tigoudar |
| Name: | Siham Bouziane Tigoudar |
| Title: | Sole Member |
| **<u>PLEDGOR:</u>** | **<u>PLEDGOR:</u>** |
| /s/ SIHAM BOUZIANE TIGOUDAR | /s/ SIHAM BOUZIANE TIGOUDAR |
| **SIHAM BOUZIANE TIGOUDAR** | **SIHAM BOUZIANE TIGOUDAR** |

---

First Amendment to Loan and Security Agreement

---

| | |
|:---|:---|
| **<u>ADMINISTRATIVE AGENT AND LENDERS:</u>** | **<u>ADMINISTRATIVE AGENT AND LENDERS:</u>** |
| **CHICAGO ATLANTIC ADMIN, LLC**, as Administrative Agent | **CHICAGO ATLANTIC ADMIN, LLC**, as Administrative Agent |
| By: | /s/ Peter Sack |
| Name: | Peter Sack |
| Title: | Authorized Person |
| **CHICAGO ATLANTIC OPPORTUNITY FINANCE, LLC**, as a Lender | **CHICAGO ATLANTIC OPPORTUNITY FINANCE, LLC**, as a Lender |
| By: | /s/ Peter Sack |
| Name: | Peter Sack |
| Title: | Authorized Person |
| **CHICAGO ATLANTIC BDC, INC**., as a Lender | **CHICAGO ATLANTIC BDC, INC**., as a Lender |
| By: | /s/ Peter Sack |
| Name: | Peter Sack |
| Title: | Authorized Person |

---

First Amendment to Loan and Security Agreement

**<u>EXHIBIT A</u>**

**<u>LOAN AND SECURITY AGREEMENT</u>**

**THIS LOAN AND SECURITY AGREEMENT** is dated as of September 30, 2025 (the "<u>Closing Date</u>"), and is among **CO ACQUISITION VEHICLE LLC**, a Delaware limited liability company ("<u>Parent</u>"; together with each other Person that becomes a borrower hereunder, each a "<u>Borrower</u>", and collectively, jointly and severally, "<u>Borrowers</u>"), each Person party hereto as a Guarantor (as defined below) from time to time, the creditors which are now or which hereafter become a party hereto (collectively, "<u>Lenders</u>" and each, a "<u>Lender</u>"), and **CHICAGO ATLANTIC ADMIN, LLC** ("<u>Chicago Atlantic</u>"), as Administrative Agent.

**<u>recitals</u>**

WHEREAS, Borrowers have asked Lenders to extend a term loan facility to Borrowers; and

WHEREAS, subject to and upon the terms and conditions herein set forth, each Lender is willing to provide such financing to Borrowers;

NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

**SECTION 1. DEFINITIONS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.1 <u>Defined Terms</u>**. When used in this Agreement, including any Schedule or Exhibit, the following terms shall have the following meanings:

"<u>Acquisition</u>" means any transaction or series of related transactions for the purpose of or resulting, directly or indirectly, whether by merger or otherwise, in (a) the acquisition of all or substantially all of the assets of any Person, business or division of a Person or (b) the acquisition of in excess of 50.00% of the Equity Interests of any Person, or otherwise causing any Person to become a Subsidiary.

"<u>Administrative Agent</u>" means Chicago Atlantic, in its capacity as administrative agent appointed under <u>Section 10.1</u>, or any successor administrative agent engaged in accordance with the terms of <u>Section 10.9</u>.

"<u>Affiliate</u>" means, with respect to any Person, any Person which, directly or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, such Person. For purposes of this definition, control of a Person means the power, direct or indirect, to (a) vote more than 50.00% of the Equity Interests or other form of ownership interest having ordinary voting power for the election of directors (or the comparable equivalent) of such Person or (b) direct or cause the direction of the management and policies of such Person, in each case whether through the ownership of any Equity Interest, by contract or otherwise. Neither Administrative Agent nor any Lender shall be an Affiliate of any Obligor for purposes of this Agreement or any other Loan Document.

"<u>Aggregate Commitment</u>" means $26,000,000.

"<u>Agreement</u>" means this Loan and Security Agreement, together with all Schedules and Exhibits and all Information Certificates, in each case whether now or hereafter annexed thereto.

"<u>Allocable Amount</u>" shall have the meaning set forth in <u>Section 2.11(d)</u>.

[\*\*\*]

"<u>Anti-Corruption Laws</u>" means all laws, rules, and regulations of any jurisdiction applicable to any Obligor, any Pledgor or any of their respective Subsidiaries from time to time concerning or relating to bribery or corruption.

"<u>Asset Disposition</u>" means any sale, assignment, lease, exchange, conveyance, transfer or other disposition by any Person (whether in one or a series of transactions) of all or any of its assets, business or other properties (including Equity Interests of Subsidiaries).

"<u>Authorized Officer</u>" means, as to any Obligor, any executive officer or Financial Officer of such Person or of the sole member of such Person, if such Person is managed by its sole member and has no such officers, and any other officer or similar official thereof with significant responsibility for the administration of the obligations of such Person or of the sole member of such Person, if such Person is managed by its sole member and has no such officers, in respect of this Agreement and the other Loan Documents.

"<u>Available Investment Amount</u>" shall have the meaning set forth in <u>Section 2.2(c)</u>.

"<u>Bankruptcy Code</u>" means the United States Bankruptcy Code (11 U.S.C. Section 101 et seq.).

"<u>Board</u>" means any Obligor's governing body, as set forth in such Person's Organic Documents.

"<u>Books</u>" means all books and records relating to any Person's existence, governance, financial condition or operations, or any of the Collateral, regardless of the medium in which any such information may be recorded.

"<u>Borrower</u>" and "<u>Borrowers</u>" shall have the meanings set forth in the Preamble.

"<u>Business Day</u>" means any day of the week, excluding Saturdays, Sundays and any day on which banks in the State of Illinois or the State of New York are authorized or required to be closed.

"<u>Cannabis Business</u>" means (a) the business of acquiring, cultivating, manufacturing, extracting, testing, producing, processing, possessing, selling (at retail or wholesale), dispensing, donating, distributing, transporting, packaging, labeling, marketing or disposing of cannabis, marijuana or related substances or products containing or relating to the same, and all ancillary activities related to the foregoing, including leasing the Real Property on which any such activity is conducted and (b) the business of managing or supporting the business described in clause (a) above, and all ancillary or complimentary activities related to the foregoing, including owning the Real Property on which any such activity is conducted.

"<u>Cannabis Licenses</u>" means each Permit required to be held by any Obligor, any Subsidiary of any Obligor or any Managed Entity, or that any Obligor, any Subsidiary of any Obligor or any Managed Entity must have rights to use, to conduct its Cannabis Business in compliance with applicable US State Cannabis Laws, including the Permits listed on Schedule 22 of each Information Certificate.

"<u>Capital Expenditures</u>" means, for any period, the aggregate cost of all capital assets acquired by Obligors and their respective Subsidiaries during such period, as determined in accordance with GAAP.

"<u>Capitalized Lease Obligations</u>" means, as applied to any Person, all obligations under Capitalized Leases of such Person or any of its Subsidiaries, in each case taken at the amount thereof accounted for as liabilities on the balance sheet (excluding the footnotes thereto) of such Person in accordance with GAAP.

"<u>Capitalized Leases</u>" means, as applied to any Person, all leases of property that have been or should be, in accordance with GAAP, recorded as capitalized leases on the balance sheet of such Person or any of its Subsidiaries, on a consolidated basis; <u>provided</u> that for all purposes hereunder the amount of obligations under any Capitalized Lease shall be the amount thereof accounted for as a liability on the balance sheet (excluding the footnotes thereto) of such Person in accordance with GAAP.

"<u>Casualty Event</u>" means the damage, destruction or condemnation, as the case may be, of property of any Person.

"<u>Change in Law</u>" means any adverse change after the Closing Date in applicable law, including US Federal Cannabis Law or US State Cannabis Law, or the application, administration or interpretation thereof by any Governmental Authority, (a) that would make it unlawful for Administrative Agent or any Lender to (i) continue to be a party to any Loan Document, (ii) perform any of its obligations hereunder or under any other Loan Document or (iii) to fund or maintain the Loans, (b) pursuant to which any Governmental Authority has enjoined Administrative Agent or any Lender from (i) continuing to be a party to any Loan Document, (ii) performing any of its obligations hereunder or under any other Loan Document or (iii) funding or maintaining the Loans or (c) pursuant to which any Governmental Authority requires (i) confidential information from or disclosure of confidential information about any investor in Administrative Agent, any Lender or any Affiliate thereof or (ii) Administrative Agent or any Lender to obtain any Permit, in each case, to (A) continue to be a party to any Loan Document, (B) perform any of its obligations hereunder or under any other Loan Document or (C) fund or maintain the Loans.

"<u>Change of Control</u>" means any of the following (or any combination of the following) whether arising from any single transaction event or series of related transactions or events that, individually or in the aggregate, result in: (a) Siham Bouziane Tigoudar, or any multi-state cannabis operator whose Equity Interests are publicly traded and whose market capitalization is at least $200,000,000, ceasing to own and control, directly or indirectly, 100.00% of the Equity Interests of Parent; (c) any "person" or "group" (within the meaning of Section 13(d) and 14(d)(2) of the Securities Exchange Act of 1934), other than any multi-state cannabis operator whose Equity Interests are publicly traded and whose market capitalization is at least $200,000,000, becoming the "beneficial owner" (as defined in Rule 13d-3 under the Securities Exchange Act of 1934), directly or indirectly, of a sufficient number of Equity Interests of Parent ordinarily entitled to vote in the election of directors, empowering such "person" or "group" to elect a majority of the members of the Board of Parent, who did not have such power before such transaction; (d) the sale, transfer or other disposition of all or substantially all assets of Parent and the other Obligors, taken as a whole; (e) Vireo Growth ceasing to own and control, free and clear of any Liens (other than Permitted Liens), directly or indirectly, at least a majority of the Equity Interests of Vireo Rocky Mountain or failing to have the power to (directly or indirectly) direct or cause the direction of the management and policies of Vireo Rocky Mountain; or (f) other than (i) pursuant to any Permitted Asset Disposition, (ii) any other transaction permitted under <u>Section 7.4(b)</u> or (iii) as provided in clause (e) above, any Obligor ceasing to own and control, free and clear of any Liens (other than Permitted Liens), directly or indirectly, or failing to have the power to (directly or indirectly) direct or cause the direction of the management and policies of, at least the percentage of the Equity Interests of each of its Subsidiaries held by such Obligor on the First Amendment Date or the date of creation or acquisition thereof, as the case may be.

"<u>Chicago Atlantic</u>" shall have the meaning set forth in the Preamble.

"<u>Closing Date</u>" shall have the meaning set forth in the Preamble.

"<u>Code</u>" means the Internal Revenue Code of 1986.

"<u>Collateral</u>" means, other than any Excluded Assets, (a) the Obligor Collateral and (b) all property described in any of the other Loan Documents as security for the payment or performance of any of the Obligations.

"<u>Collateral Assignments of Lease</u>" means, collectively, those certain Collateral Assignments of Lease executed from time to time, each between the applicable Obligor and Administrative Agent, in form and substance satisfactory to Administrative Agent.

"<u>Collateral Assignments of Management Services Agreement</u>" means, collectively, those certain Collateral Assignments of Management Services Agreement executed from time to time, each between the applicable Obligor and Administrative Agent and consented to by the applicable Managed Entity, in form and substance satisfactory to Administrative Agent.

"<u>Connection Income Taxes</u>" means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes.

"<u>Consulting Agreement</u>" shall have the meaning set forth in the Vireo Rocky Mountain Loan Agreement.

"<u>Contingent Obligation</u>" means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of that Person with respect to: (a) any indebtedness, mandatory dividend, letter of credit or other similar obligation of another Person, including any such obligation directly or indirectly guaranteed, endorsed, co-made or discounted or sold with recourse by that Person, or in respect of which that Person is otherwise directly or indirectly liable; (b) any obligations with respect to undrawn letters of credit issued or provided for the account of that Person; and (c) all obligations arising under any interest rate, currency or commodity swap agreement, interest rate cap agreement, interest rate collar agreement, or other agreement or arrangement designed to protect such Person against fluctuation in interest rates, currency exchange rates or commodity prices; <u>provided</u>, <u>however</u>, that the term "Contingent Obligation" shall not include endorsements for collection or deposit in the Ordinary Course of Business. The amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or determined amount of the primary obligation in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably anticipated net liability in respect thereof as determined by such Person in good faith; <u>provided</u>, <u>however</u>, that such amount shall not in any event exceed the maximum amount of the obligations under the Contingent Obligation arrangement.

"<u>Contributing Parties</u>" shall have the meaning set forth in <u>Section 2.11(d)</u>.

"<u>Controlled Account</u>" means any Deposit Account, Securities Account or Commodity Account subject to a Controlled Account Agreement.

"<u>Controlled Account Agreement</u>" means a tri-party deposit account, securities account or commodity account control agreement by and among the applicable Obligor, Administrative Agent and the applicable depository bank, securities intermediary or commodity intermediary, each in form and substance reasonably satisfactory to Administrative Agent, and in any event providing to Administrative Agent "control" of a Deposit Account, Securities Account or Commodity Account, as applicable, within the meaning of Articles 8 and 9 of the UCC, as applicable.

"<u>Debtor Relief Laws</u>" means the Bankruptcy Code and all other liquidation, bankruptcy, assignment for the benefit of creditors, conservatorship, moratorium, receivership, insolvency, rearrangement, reorganization, or similar debtor relief laws of the United States of America or other applicable jurisdictions in effect from time to time.

"<u>Default</u>" means an event, act or condition the occurrence of which would, with the lapse of time or the giving of notice, or both, become an Event of Default.

"<u>Default Rate</u>" means, with respect to any Obligations and during any time that an Event of Default exists, a rate equal to the Interest Rate <u>plus</u> 10.00% per annum.

"<u>Disbursement Letter</u>" means that certain Disbursement Letter dated the date hereof from Parent to Administrative Agent.

"<u>Disqualified Institution</u>" means [\*\*\*]

"<u>Distribution</u>" means, in respect of any Person, (a) any payment, distribution, dividend or transfer of cash or other assets by such Person constituting a dividend, return of capital, and other payment in respect of the Equity Interests of such Person (except distributions in such Equity Interests) and (b) any purchase, redemption or other acquisition or retirement for value of any Equity Interests of such Person; <u>provided</u>, that (x) no purchase, redemption or other acquisition or retirement for value of Equity Interests of Vireo Rocky Mountain in exchange for Vireo Growth Equity Interests contemplated under the Restructuring Support Agreement shall be considered a Distribution, and (y) no payments to any Secured Creditor under this Agreement, any other Loan Document or under any Vireo Rocky Mountain Loan Document shall be considered a Distribution.

"<u>Dollars</u>" and the sign "<u>$</u>" each mean the lawful money of the United States.

"<u>Earnout Payments</u>" means the contingent liabilities and indebtedness incurred in connection with any Acquisition which became non-contingent and payable upon the occurrence of certain performance criteria set forth in the applicable Acquisition's purchase documents.

"<u>Eligible Assignee</u>" means a Person who is (a) not Parent or any of Parent's Subsidiaries, (b) organized under the laws of the United States or any state or territory thereof or the District of Columbia, <u>provided</u> that such Person is not classified as an entity that is disregarded from a Person that is not organized under the laws of the United States or any state or territory thereof or the District of Columbia for U.S. federal income tax purposes, (c) not a natural person (or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural person) and (d) not a Disqualified Institution.

"<u>Environmental Indemnity Agreement</u>" means, collectively, those certain Environmental Indemnity Agreements executed from time to time, each by one or more Obligors to and for the benefit of Administrative Agent.

"<u>Environmental Laws</u>" means all federal, state, district, local and foreign laws, rules, regulations, ordinances or consent decrees relating to health, safety, hazardous substances, pollution or environmental matters, as now or at any time hereafter in effect, applicable to any Obligor's business or facilities owned or operated by any Obligor, including laws relating to emissions, discharges, Releases or threatened Releases of pollutants, contamination, chemicals, hazardous, toxic or dangerous substances, materials or wastes into the environment (including ambient air, surface water, ground water, land surface or subsurface strata) or otherwise relating to the generation, manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials.

"<u>Environmental Liability</u>" means any liability, obligation, loss, claim, action, order or cost, contingent or otherwise (including for damages, costs of environmental remediation or monitoring, fines, penalties, consultants' or attorneys' fees and indemnities), directly or indirectly resulting from or based upon (a) non-compliance with any Environmental Law or any Governmental Authority approval required thereunder, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the presence, Release or threatened Release of any Hazardous Materials or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing.

"<u>EOD Threshold Amount</u>" means $3,000,000.

"<u>Equity Interest</u>" means all shares of capital stock (whether denominated as common stock or preferred stock), equity interests, partnership, limited partnership or membership interests, joint venture interests, units, limited liability company interests, participations or other ownership or profit interests in or equivalents (regardless of how designated) of or in a Person (other than an individual), whether voting or non-voting.

"<u>ERISA</u>" means the Employee Retirement Income Security Act of 1974.

"<u>Event of Default</u>" means any event or condition described in <u>Section 8.1</u>.

"<u>Excluded Accounts</u>" means any deposit accounts, securities accounts or other similar accounts (a) into which there are deposited no funds other than those intended solely to cover payroll, employee wage and benefits and accrued and unpaid employee obligations and the applicable Obligor does not deposit or maintain funds in any such account in excess of amounts necessary to fund three months of payroll liabilities or other wage and employee benefit payments, (b) that are withholding and escrow, fiduciary or trust accounts or similar accounts (in each case, only to the extent held exclusively for the benefit of an unaffiliated third party and used exclusively for such purposes and the applicable Obligor does not deposit or maintain funds in any such account in excess of amounts required by such Obligor's agreement with such unaffiliated third party), (c) constituting zero balance accounts and (d) other than the accounts set forth in the preceding clauses (a) through (c), in which the monthly average balance of funds on deposit in the aggregate for all such accounts is less than the Threshold Amount.

"<u>Excluded Assets</u>" shall have the meaning set forth in <u>Section 3.1</u>.

"<u>Excluded Taxes</u>" means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan pursuant to a law in effect on the date on which (i) such Lender acquires such interest in the Loan or (ii) such Lender changes its lending office, except in each case to the extent that, pursuant to <u>Section 2.12</u>, amounts with respect to such Taxes were payable either to such Lender's assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending office, (c) Taxes attributable to such Recipient's failure to comply with <u>Section 2.12(g)</u> and (d) any withholding Taxes imposed under FATCA.

"<u>Extraordinary Receipts</u>" means any cash received by or paid to or for the account of any Obligor or any Subsidiary thereof not in the Ordinary Course of Business (and not consisting of proceeds described in <u>Section 2.4(b)(i)</u>, <u>2.4(b)(ii)</u> or <u>2.4(b)(iii)</u>), including: (a) proceeds of judgments, proceeds of settlements or other consideration of any kind in connection with any cause of action to the extent not used to pay any corresponding cause of action or to reimburse such Obligor or such Subsidiary for amounts previously expended, (b) indemnification payments received by such Obligor or such Subsidiary to the extent not used or anticipated to be used to pay any corresponding liability or reimburse such Obligor or such Subsidiary for the payment of any such liability, (c) any purchase price adjustment received in connection with any purchase agreement, (d) pension plan reversions, net of Taxes paid or payable with respect to such amounts, (e) insurance proceeds not received in connection with a Casualty Event and (f) payments received in connection with any taking of any assets of a Person by eminent domain proceedings.

"<u>FATCA</u>" means Sections 1471 through 1474 of the Code, as of First Amendment Date (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code and any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and implementing such Sections of the Code.

"<u>Federal Funds Rate</u>" means, for any period, a fluctuating per annum interest rate (rounded upwards, if necessary, to the nearest 1/100 of one percentage point) for each day during such period equal to the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System, as published for such day (or, if such day is not a Business Day, for the immediately preceding Business Day) by the Federal Reserve Bank of New York, or if such rate is not so published for any day that is a Business Day, the average of the quotations for such day on such transactions received by Administrative Agent from three federal funds brokers of recognized standing selected by Administrative Agent.

"<u>Fees</u>" means the Make-Whole Amount and any other express fees pursuant to any fee letter between Borrowers and Administrative Agent.

"<u>Financial Officer</u>" means any of the chief financial officer, vice president of finance, principal accounting officer, treasurer, controller or other senior financial officer of the applicable Obligor or of the sole member of the applicable Obligor, if such Obligor is managed by its sole member and has no such officers.

"<u>First Amendment</u>" means that certain First Amendment to Loan and Security Agreement, dated as of the First Amendment Date, among Parent, the Pledgor party to a Pledge Agreement as of the First Amendment Date, the Lenders party thereto and Administrative Agent.

"<u>First Amendment Date</u>" means February 26, 2026.

"<u>Fiscal Year</u>" means the fiscal year of Obligors and their respective Subsidiaries, which period shall be the 12-fiscal month period ending on December 31 of each year.

"<u>Foreign Lender</u>" means (a) if any Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (b) if any Borrower is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which such Borrower is resident for tax purposes.

"<u>Fund</u>" means any Person (other than a natural Person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its activities.

"<u>Fiscal Year</u>" means the fiscal year of Borrowers and their respective Subsidiaries, which period shall be the 12- fiscal month period ending on December 31 of each year.

"<u>GAAP</u>" means generally accepted accounting principles in the United States in effect from time to time.

"<u>Governmental Authority</u>" means any nation, sovereign or government, any state or other political subdivision thereof, any agency, authority or instrumentality thereof and any entity or authority exercising executive, legislative, taxing, judicial, regulatory or administrative functions of or pertaining to government, and any corporation or other entity owned or controlled, through stock or capital ownership or otherwise, by any of the foregoing, including any central bank stock exchange regulatory body arbitrator, public sector entity, supra-national entity (including the European Union and the European Central Bank) and any self-regulatory organization (including the National Association of Insurance Commissioners).

"<u>Guarantor</u>" means (a) each Borrower under this Agreement as to each other Borrower, (b) each Person who becomes a guarantor of the Obligations pursuant to <u>Section 6.12(b)</u> and (c) any other Person who may guarantee, pursuant to a written agreement, payment or collection of any of the Obligations.

"<u>Guaranty</u>" means each guaranty now or hereafter executed by a Guarantor with respect to any of the Obligations, including the guaranty set forth in <u>Section 9</u>.

"<u>Hazardous Materials</u>" means any hazardous, toxic or dangerous substance, materials and wastes, including hydrocarbons (including naturally occurring or man-made petroleum and hydrocarbons), flammable explosives, asbestos, urea formaldehyde insulation, radioactive materials, biological substances, polychlorinated biphenyls, pesticides, herbicides and any other kind or type of pollutants or contaminants (including materials which include hazardous constituents), sewage, sludge, industrial slag, solvents or any other similar substances, materials or wastes and including any other substances, materials or wastes that are or become regulated under any Environmental Law (including any that are or become classified as hazardous or toxic under any Environmental Law); <u>provided</u> that cannabis and marijuana are explicitly excluded from the definition of Hazardous Materials, as are any substances or products that would be deemed Hazardous Materials solely because they contain cannabis or marijuana, in each case, to the extent such substances are deemed hazardous solely because cannabis and marijuana are unlawful under US Federal Cannabis Law.

"<u>Hedging Agreement</u>" means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a "<u>Master Agreement</u>"), including any such obligations or liabilities under any Master Agreement.

"<u>Indebtedness</u>" means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the maximum amount (after giving effect to any reductions or prior drawings which have been reimbursed) of all direct obligations or Contingent Obligations of such Person arising under letters of credit (including standby and commercial) (other than to the extent cash collateralized), bankers' acceptances, bank guaranties, surety bonds and similar instruments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) obligations under any Hedging Agreement, or other interest rate management device, foreign currency exchange agreement, currency swap agreement, commodity price protection agreement or other interest or currency exchange rate or commodity price hedging arrangement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) all obligations of such Person to pay the deferred purchase price of property or services (other than current trade payables incurred in the Ordinary Course of Business), purchase price adjustments, profit sharing arrangements, deferred purchase money amounts and similar payment obligations or continuing obligations of any nature of such Person arising out of purchase and sale contracts, including Earnout Payments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse (but if limited in recourse or that Person has not assumed or otherwise become liable for that indebtedness, then that indebtedness will be measured at the lesser of (i) the aggregate principal amount of such indebtedness and (ii) the fair market value of the property securing that indebtedness as determined by such Person in good faith, in each case at the applicable time of determination);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) all Capitalized Lease Obligations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) all Equity Interests of such Person subject to repurchase or redemption rights or obligations (excluding repurchases or redemptions at the sole option of such Person);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) all indebtedness, obligations or liabilities secured by a Lien on any asset of such Person, whether or not such indebtedness, obligations or liabilities are otherwise an obligation of such Person; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any guaranty of any indebtedness, obligations or liabilities of a type described in the foregoing clauses.

For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made non-recourse to such Person.

"<u>Indemnified Claims</u>" means all claims, demands, liabilities, obligations, losses, damages, fines, fees, penalties, actions, judgments, suits, awards, remedial response costs, expenses or disbursements of any kind or nature whatsoever (including attorneys', accountants', auctioneers', consultants' or paralegals' fees and expenses), which may at any time be imposed on, incurred by or asserted against any Indemnitee in any way relating to or arising out of this Agreement, any other Loan Document, or any other document contemplated by this Agreement, including any of the foregoing in any way relating to or arising out of (a) the administration, performance or enforcement by Administrative Agent or any Lender of any of the Loan Documents or consummation of any of the transactions described therein, (b) the existence of, perfection of, a Lien upon or the sale or collection of or other realization upon any Collateral, (c) the breach of any representation or warranty under this Agreement or any other Loan Document or (d) the failure of any Obligor or any Pledgor to observe, perform or discharge any of such Obligor's or such Pledgor's covenants or duties under any of the Loan Documents, in each case including any cost or expense incurred by any Indemnitee in connection with any investigation, litigation, arbitration or other judicial or non-judicial proceeding, whether or not such Indemnitee is a party thereto.

"<u>Indemnified Taxes</u>" means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of any Obligor under any Loan Document and (b) to the extent not otherwise described in clause (a) above, Other Taxes.

"<u>Indemnitees</u>" means Administrative Agent, each Lender and each of their respective officers, directors, members, managers, partners, agents, advisors, attorneys and Affiliates.

"<u>Information Certificate</u>" means that certain Information Certificate dated the Closing Date and executed by Parent in favor of Administrative Agent and Lenders, and each other Information Certificate delivered pursuant to <u>Section 6.12(b)</u>, in each case, as Schedule 22 is updated from time to time pursuant to <u>Section 6.5(f</u>).

"<u>Insolvency Proceeding</u>" means (a) any case, action or proceeding before any court or other Governmental Authority relating to bankruptcy, reorganization, insolvency, liquidation, receivership, dissolution, winding-up or relief of debtors or (b) any general assignment for the benefit of creditors, formal or informal moratorium, composition, marshaling of assets for creditors or other, similar arrangement in respect of its creditors generally or any substantial portion of its creditors, in each case, undertaken under any Debtor Relief Law.

"<u>Interest Rate</u>" means 20.00% per annum.

"<u>Investment</u>" means any beneficial ownership of (including stock, partnership or limited liability company interest or other securities) any Person, or any loan, advance or capital contribution to any Person.

"<u>Lease</u>" means any lease or similar agreement attached to or executed in connection with any Real Property to which an Obligor is a party.

"<u>Lender</u>" and "<u>Lenders</u>" shall have the meanings set forth in the Preamble.

"<u>Lender Expenses</u>" means all of the following, without duplication: (a) subject to <u>Section 2.12</u>, Taxes required to be paid by an Obligor under the Loan Documents that are paid or advanced by Administrative Agent or any Lender; (b) subject to <u>Section 2.12</u>, Taxes levied on, or assessed, placed or made against any of the Collateral, any Loan Documents or the Obligations; (c) insurance (including title insurance) premiums required to be paid by an Obligor under the Loan Documents that are paid or advanced by Administrative Agent or any Lender; (d) filing, recording, publication and search fees paid or incurred by Administrative Agent in connection with the Loan Documents, the Collateral or the Obligations, including all recording fees and, subject to <u>Section 2.12</u>, Taxes imposed in connection with such filings, recordings, publications and searches; (e) the reasonable and invoiced (in summary form) out-of-pocket costs, fees (including attorneys', paralegals', auctioneers', appraisers', financial advisors', agents' or consultants' fees) and expenses incurred by Administrative Agent or, if an Event of Default has occurred and is continuing, any Lender (i) to inspect, copy, audit or examine the Books of any Obligor or inspect, count, appraise or examine any Collateral or obtain any quality of earnings report, (ii) to monitor or obtain compliance with this Agreement and the other Loan Documents and to otherwise administer the Transactions (including all due diligence costs, fees and expenses), (iii) to correct any Default or Event of Default or enforce any provision of any of the Loan Documents, whether or not litigation is commenced, (iv) in connection with any restructuring, repayment, refinancing or "workout" of the transactions contemplated by this Agreement or any other Loan Document (whether or not the transactions contemplated hereby or thereby shall be consummated), (v) in gaining possession of, maintaining, handling, protecting, preserving, insuring, storing, shipping, preparing for sale, advertising for sale, selling or foreclosing a Lien upon any of the Collateral, whether or not a sale is consummated, (v) in collecting any Accounts or recovering any of the Obligations, (vi) in structuring, drafting, reviewing, negotiating, syndicating or preparing any of the Loan Documents or any amendment, modification or waiver of any of the Loan Documents (whether or not the transactions contemplated hereby or thereby shall be consummated) or (vii) in defending the validity, perfection, priority or enforceability of Liens; <u>provided</u>, <u>however</u>, any costs, fees or expenses pursuant to this sentence incurred in relation to any legal services shall be limited to the reasonable and invoiced (in summary form) out-of-pocket costs, fees and expenses of one primary firm of outside legal counsel to Administrative Agent and Lenders, and, if deemed reasonably necessary by Administrative Agent, of one firm of regulatory counsel and one firm of local counsel to Administrative Agent and Lenders in each appropriate jurisdiction (which may include a single firm of local counsel to Administrative Agent and Lenders acting in multiple jurisdictions) and, in the case of an actual or perceived conflict of interest (as reasonably determined by the applicable Lenders), one additional firm of counsel for each group of similarly situated Lenders; and (f) reasonable and documented out-of-pocket travel and other out-of-pocket expenses (including all travel, meal and lodging expenses) in connection with attendance at Board meetings by the representatives of Administrative Agent. Notwithstanding the foregoing, in no event shall Lender Expenses include any Excluded Taxes or Indemnified Taxes.

"<u>Licensing Divisions</u>" means each Governmental Authority authorized under any US State Cannabis Laws to regulate the growth, processing, manufacturing, testing, transportation, distribution, dispensation, and sale of cannabis.

"<u>Lien</u>" means any lien (statutory or other) mortgage, pledge, hypothecation, assignment, security interest, encumbrance, charge, claim, restriction on transfer or similar restriction or other security arrangement of any kind or nature whatsoever, including any conditional sale or other title retention agreement and any capital or financing lease having substantially the same economic effect as any of the foregoing.

"<u>Lien Waiver</u>" means the waiver or subordination of Liens satisfactory to Administrative Agent from a lessor, mortgagee, warehouse operator, bailee, processor or other third party that may have a Lien upon any Collateral that is in such third party's possession or is located or leased by such party to an Obligor, by which such Person shall waive or subordinate its Liens and claims with respect to any Collateral in favor of Administrative Agent and shall assure Administrative Agent's access to any Collateral for the purpose of allowing Administrative Agent to enforce its rights and Liens with respect thereto.

"<u>Liquidity</u>" shall have the meaning set forth in the Vireo Rocky Mountain Loan Agreement.

"<u>Loan Account</u>" shall have the meaning set forth in <u>Section 2.8(c)</u>.

"<u>Loan Commitment</u>" means, as to any Lender, the loan commitment amount set forth opposite such Lender's name on <u>Schedule 1</u> on the Closing Date, as such amount may be adjusted from time to time by assignment by any Lender pursuant to <u>Section 11.6</u>.

"<u>Loan Commitment Ratio</u>" means, with respect to any Lender, the ratio, expressed as a percentage, of (a) the Loan Commitment of such Lender, <u>divided by</u> (b) the Loan Commitments of all of Lenders; <u>provided</u>, <u>however</u>, that, notwithstanding anything to the contrary in this Agreement, Lenders are permitted to fund the Loans in the amounts agreed to by such Lenders.

"<u>Loan Documents</u>" means, collectively, this Agreement, each Note, each Guaranty, each Information Certificate, the Disbursement Letter, each Pledge Agreement, each Collateral Assignment of Management Services Agreement, each Controlled Account Agreement, each Mortgage, each Environmental Indemnity Agreement, each Collateral Assignment of Lease, each Lien Waiver, each subordination or intercreditor agreement to which Administrative Agent is a party and all other documents, instruments, certificates and agreements executed or delivered in connection with or contemplated by this Agreement. No document or agreement between or among (a) one or more Obligors, on the one hand, and (b) one or more Secured Creditors in a capacity other than as a Secured Creditor, on the other hand, shall be a Loan Document, including the Vireo Rocky Mountain Management Agreement, any Management Services Agreement, [\*\*\*], the PharmaCann Transaction Documents, the Consulting Agreement or the Vireo Rocky Mountain Loan Documents.

"<u>Loans</u>" means, collectively, the amounts advanced by Lenders to Borrowers pursuant to <u>Section 2.1</u>.

"<u>Make-Whole Amount</u>" means, with respect to (a) any prepayment of the Loans, including pursuant to <u>Section 2.2(c)</u>, if Loans in the aggregate amount of $16,000,000 or more have been prepaid on or prior to the date of such prepayment, or (b) any repayment in connection with an acceleration of the Loans prior to the Maturity Date, and, in each case of clauses (a) and (b) above, such prepayment or repayment occurs on or prior to March 30, 2027, an amount equal to the sum of all payments of interest on the Loans, if no prepayment or repayment of such Loans was made on or prior to March 30, 2027.

"<u>Managed Entity</u>" means any Person engaged in a Cannabis Business, in each case, that enters into a Management Services Agreement with an Obligor with respect to any Cannabis Business.

"<u>Management Services Agreement</u>" means a management services agreement or other similar agreement between an Obligor, as manager or in any similar capacity, on the one hand, and a Managed Entity, on the other hand. Neither the Consulting Agreement nor the Vireo Rocky Mountain Management Agreement is a Management Services Agreement.

"<u>Margin Stock</u>" means margin stock within the meaning of Regulations T, U and X, as applicable, of the United States Securities Exchange Act of 1934.

"<u>Material Adverse Effect</u>" means the effect of any event, condition, action, omission or circumstance, which, alone or when taken together with other events, conditions, actions, omissions or circumstances occurring or existing concurrently therewith, (a) has, or with the passage of time is reasonably likely to have, a material adverse effect upon the business, operations, properties or condition (financial or otherwise) of Parent and the other Obligors, taken as a whole, (b) has or could be reasonably expected to have any material adverse effect upon the validity or enforceability of this Agreement or any of the other material Loan Documents, (c) has any material adverse effect upon the title to or value of any material part of the Collateral, the Liens of Administrative Agent with respect to the Collateral or the priority of any such Liens (other than as a result of voluntary and intentional discharge of any such Lien by Administrative Agent), (d) materially impairs the ability of any Obligor or any Pledgor to perform its obligations under any of the Loan Documents, including repayment of any of the Obligations when due, or (e) materially impairs the ability of Administrative Agent or any Lender to enforce or collect the Obligations or realize upon any of the Collateral in accordance with the Loan Documents or applicable law.

"<u>Material Cannabis License</u>" means any Cannabis License that constitutes a Material Contract.

"<u>Material Contracts</u>" means (a) any contract or agreement evidencing, securing or pertaining to any Indebtedness or other obligations, or any guaranty thereof, in a principal amount exceeding the Threshold Amount, (b) any operating lease (including any Lease) where annual rentals exceed the Threshold Amount, (c) any Management Services Agreement where annual cash compensation to an Obligor is paid is in excess of the Threshold Amount, (d) the MMT Acquisition Agreement, (e) any Cannabis License generating annual revenue in excess of the Threshold Amount, (f) any contract or agreement (other than the contracts and agreements set forth in the foregoing clauses (a) through (e)) which involves aggregate consideration payable to or by any Person in excess of the Threshold Amount on an annual basis or (g) any other contract or agreement the termination of which (without contemporaneous replacement of substantially equivalent value) could reasonably be expected to have a Material Adverse Effect, including any management, rental, service, supply, security, maintenance, or similar contract.

"<u>Maturity Date</u>" means December 31, 2029.

"<u>MMT Acquisition</u>" means the acquisition by Vireo Rocky Mountain of certain assets of the Company Parties (as defined in the MMT Acquisition Agreement) pursuant to the MMT Acquisition Documents.

"<u>MMT Acquisition Agreement</u>" means that certain Asset Purchase Agreement dated as of November 13, 2025, by and among Vireo Rocky Mountain, Medicine Man Technologies, Inc. and certain of its Subsidiaries party thereto, as sellers, and the other Persons party thereto, as amended, restated, supplemented or otherwise modified from time to time.

"<u>MMT Acquisition Documents</u>" means, collectively, the MMT Acquisition Agreement and the other agreements, documents and instruments executed in connection with the MMT Acquisition Agreement.

"<u>Mortgage</u>" means each mortgage, deed of trust, or deed to secure debt, trust deed, assignment of leases and rents or other security document granted by any applicable Obligor to Administrative Agent, for the benefit of Secured Creditors, in respect of any Real Property owned by such Obligor, in form and substance reasonably acceptable to Administrative Agent.

"<u>Mortgaged Property</u>" means any Real Property subject to a Mortgage.

"<u>Negotiable Collateral</u>" shall have the meaning set forth in <u>Section 3.1(g)</u>.

"<u>Net Cash Proceeds</u>" means, with respect to any Asset Disposition, Casualty Event or other loss of assets by any Obligor or any issuance by any Obligor of any Equity Interests or the incurrence by any Obligor of any Indebtedness (other than Permitted Indebtedness), the aggregate amount of cash received for such assets or Equity Interests, or as a result of such Indebtedness, net of reasonable and customary transaction costs properly attributable to such transaction and payable by any Obligor to a non-Affiliate in connection with such Asset Disposition, Casualty Event or other loss of assets or the issuance of any Equity Interests or the incurrence of any Indebtedness, including sales commissions and underwriting discounts.

"<u>Note</u>" means a promissory note (or amended and restated promissory note) in a form acceptable to Administrative Agent and the applicable Lender.

"<u>Obligations</u>" means all indebtedness, liabilities, obligations, covenants and duties now or at any time or times hereafter owing by any Obligor or any Pledgor to any Secured Creditor, of any kind and description, incurred pursuant to or evidenced by any of the Loan Documents and whether direct or indirect, absolute or contingent, due or to become due or joint or several, including the principal of and interest on the Loans, all Fees and other fees, all obligations of any Obligor or any Pledgor in connection with any indemnification of any Secured Creditor and all Lender Expenses, in each case, incurred pursuant to or evidenced by any of the Loan Documents, and including any interest and fees that accrue after the commencement by or against any Obligor or any Pledgor of any Insolvency Proceeding naming such Person as the debtor in such Insolvency Proceeding, regardless of whether such interest and fees are allowed claims in such Insolvency Proceeding.

"<u>Obligor</u>" means each Borrower and each Guarantor.

"<u>Obligor Collateral</u>" shall have the meaning set forth in <u>Section 3.1</u>.

"<u>Obligor's Payment</u>" shall have the meaning set forth in <u>Section 2.11(d)</u>.

"<u>OFAC</u>" means the Office of Foreign Assets Control of the United States Department of the Treasury.

"<u>Ordinary Course of Business</u>" means, with respect to any Person, the ordinary course of such Person's business, as conducted by such Person in accordance with past practices and undertaken by such Person in good faith and not for the purpose of evading any covenant or restriction in any Loan Document.

"<u>Organic Documents</u>" means, with respect to any Person, its charter, certificate or articles of incorporation, bylaws, certificate or articles of organization, limited liability agreement, operating agreement, members agreement, shareholders agreement, partnership agreement, certificate of partnership, certificate of formation, investor rights agreement, right of first refusal agreement, co-sale agreement, voting trust or similar agreement or instrument governing the formation or operation of such Person.

"<u>Other Connection Taxes</u>" means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).

"<u>Other Taxes</u>" means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment.

"<u>Parent</u>" shall have the meaning set forth in the Preamble.

"<u>Participant</u>" shall have the meaning set forth in <u>Section 11.6(d)</u>.

"<u>Participation Register</u>" shall have the meaning set forth in <u>Section 11.6(d)</u>.

"<u>PATRIOT Act</u>" means the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)).

"<u>Payment Date</u>" means the first day of each calendar month; <u>provided</u> that if any Payment Date falls on a day that is not a Business Day and such payment is due and payable in cash, the date for payment thereof shall be made on the immediately succeeding Business Day.

"<u>Permits</u>" means, with respect to any Person, any authorizations, consents, permits, approvals, authorizations, licenses, registrations, certificates, concessions, grants, variances, permissions and exemptions from, and all filings, contractual obligations and registrations with, and all reports to, any Governmental Authority, in each case whether or not having the force of law and applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject, which are required for (a) the execution, delivery and performance of the Loan Documents, (b) the transactions contemplated by the Loan Documents, (c) the conduct of the business of any Obligor as then-currently conducted or (d) the ownership (or lease) of the properties of any Obligor.

"<u>Permitted Acquisition</u>" means (u) the acquisition by Parent of all the Equity Interests of Vireo Rocky Mountain, on terms and conditions disclosed to Administrative Agent, (v) the MMT Acquisition, (w) [\*\*\*], (x) the PharmaCann Acquisition, (y) so long as no Event of Default has occurred and is continuing or would results therefrom, any Acquisition of any Colorado-licensed Cannabis Business, and (z) any other Acquisition that, unless Administrative Agent otherwise agrees in its discretion, satisfies each of the following requirements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the business or Person acquired in connection with such Acquisition is engaged in substantially the same business as Vireo Growth or any Obligor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) such Acquisition is not consummated as a hostile or contested Acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if a new Subsidiary is formed or acquired as a result of or in connection with such Acquisition, Borrowers shall have complied with the requirements of <u>Sections 6.12</u> and, if applicable, <u>6.13</u> in connection therewith within [\*\*\*] days following the consummation of such Acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) such Acquisition and all transactions related thereto shall be consummated in accordance with all applicable laws (excluding US Federal Cannabis Law) in all material respects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) such Acquisition would not reasonably be expected to cause a Material Adverse Effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the Transaction Conditions are met after giving pro forma effect to such Acquisition.

"<u>Permitted Acquisition Reserve Account</u>" shall have the meaning set forth in <u>Section 2.2(c)</u>.

"<u>Permitted Asset Disposition</u>" means an Asset Disposition by any Obligor or any Subsidiary of any Obligor of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) Inventory in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) non-exclusive licenses and similar arrangements for the use of the property of Obligors in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) worn-out or obsolete Equipment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any Asset Disposition resulting from a loss of, damage to or destruction of, or any condemnation or other taking for public use of, any property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the making of Permitted Investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any Sale and Leaseback Transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) issuances of Equity Interests of Parent or Vireo Rocky Mountain, in each case, to the extent any such issuance does not constitute a Change of Control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) any Asset Disposition described in the definition of Permitted Schwazze Transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) [\*\*\*]; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) any other Asset Disposition so long as the Transaction Conditions are met after giving pro forma effect thereto.

"<u>Permitted Indebtedness</u>" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Indebtedness of Obligors in favor of Lenders arising under this Agreement or any other Loan Document;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any Indebtedness of any Obligor arising under a Hedging Agreement entered into in the Ordinary Course of Business and not for speculative purposes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) [reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Indebtedness (i) evidencing the deferred purchase price of newly acquired equipment or incurred to finance the acquisition of equipment of such Obligor (pursuant to purchase money security arrangements or otherwise, whether owed to the seller or a third party) used in the Ordinary Course of Business of such Obligor (<u>provided</u> that such Indebtedness is incurred within [\*\*\*] days of the acquisition of such property), or (ii) evidenced by Capitalized Leases into which such Obligor enters for the acquisition of equipment used in the Ordinary Course of Business of such Obligor; <u>provided</u> that the aggregate outstanding principal amount of such Indebtedness under clauses (i) and (ii) of this clause (d) shall not exceed $4,000,000 in the aggregate in any Fiscal Year of Obligors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Indebtedness acquired in connection with a Permitted Acquisition, so long as (i) such Indebtedness exists prior to the consummation of such Permitted Acquisition and is not created in contemplation of or in connection with such Permitted Acquisition and (ii) both before and after giving pro forma effect to the incurrence of such Indebtedness, the Transaction Conditions are satisfied;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) endorsements for collection, deposit or negotiation and warranties of products or services, in each case, incurred in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Subordinated Debt, so long as the subordination or intercreditor agreement applicable thereto is in full force and effect and no Event of Default under <u>Section 8.1(t)</u> has occurred with respect thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) unsecured Indebtedness incurred in the Ordinary Course of Business of such Obligor and its Subsidiaries in respect of open accounts extended by suppliers on normal trade terms in connection with purchases of goods and services which are not overdue for a period of more than [\*\*\*] days or, if overdue for more than [\*\*\*] days, as to which a dispute exists, the validity or amount thereof is being Properly Contested;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) unsecured intercompany Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Indebtedness in respect of surety bonds, performance bonds and similar instruments issued in the Ordinary Course of Business in an aggregate amount not to exceed $4,000,000 at any time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) unsecured Indebtedness in an aggregate amount not exceeding $4,000,000 at any time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Contingent Obligations of any Obligor in respect of Indebtedness otherwise permitted hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Indebtedness in respect of netting services, overdraft protection and otherwise in connection with deposit accounts or similar accounts incurred in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Indebtedness owed to any Person providing worker's compensation, health, disability or other employee benefits or property, casualty or liability insurance to any Obligor or any Subsidiary incurred in connection with such Person providing such benefits or insurance pursuant to customary reimbursement or indemnification obligations to such Person, in each case, in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) Indebtedness of any Obligor to the extent constituting (i) Permitted Investments or (ii) Permitted Asset Dispositions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) Indebtedness relating to judgments, including appeal bonds, or awards not constituting an Event of Default under <u>Section 8.1(f)</u> or <u>8.1(q)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) extensions, refinancings and renewals of any Permitted Indebtedness, <u>provided</u> that (i) the principal amount thereof is not increased, (ii) the terms of such extension, refinancing or renewal do not impose more burdensome terms upon the applicable Obligor, (iii) only those Persons obligated with respect to such Indebtedness being extended, refinanced or renewed may be obligated with respect to such extension, refinancing or renewal and (iv) no additional property may be subject to a Lien to secure such extension, refinancing or renewal other than after-acquired property, or other property, falling within the same scope of collateral description;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) Indebtedness arising under the Vireo Rocky Mountain Loan Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) Indebtedness arising under the Vireo Rocky Mountain Management Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) Indebtedness arising under the Consulting Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) Indebtedness arising under the PharmaCann Transaction Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Indebtedness arising under any Management Services Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) [\*\*\*]; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) any other Indebtedness so long as, both before and after giving pro forma effect to the incurrence of such Indebtedness, the Transaction Conditions are satisfied.

"<u>Permitted Investments</u>" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Investments existing on the Closing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any Investments made by any Obligor pursuant to Hedging Agreements entered into in the Ordinary Course of Business and not for speculative purposes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) (i) marketable direct obligations issued or unconditionally guaranteed by the United States of America or any agency or any State thereof maturing within one year from the date of acquisition thereof, (ii) commercial paper issued by a corporation (other than an Affiliate of any Obligor) organized under the laws of any state of the United States or the District of Columbia maturing no more than one year from the date of creation thereof and currently having rating of at least A-2 or P-2 from either Standard & Poor's Corporation or Moody's Investors Service, respectively, (iii) certificates of deposit maturing no more than one year from the date of investment therein that is issued by a bank organized under the laws of the United States (or any state thereof) which has, at the time of acquisition thereof, (A) a credit rating of at least A-2 or P-2 from either Standard & Poor's Corporation or Moody's Investors Service, respectively, and (B) a combined capital and surplus greater than $500,000,000, and (iv) money market accounts, the assets of which consist of investments of the type described in clauses (i) through (iii) above; <u>provided</u> that such Investments in an aggregate shall not exceed the Threshold Amount in any Fiscal Year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) repurchases of Equity Interests in cash from former employees or directors of any Obligor under the terms of applicable repurchase agreements (i) in an aggregate amount not to exceed the Threshold Amount in any Fiscal Year, <u>provided</u> that no Event of Default has occurred, is continuing or would exist after giving effect to the repurchases, or (ii) in any amount where the consideration for the repurchase is the cancellation of indebtedness owed by such former employees to any Obligor regardless of whether an Event of Default exists;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Investments of an Obligor or a Subsidiary thereof in an Obligor or, if Obligors are in the process of complying with Sections <u>6.12</u> and, if applicable, <u>6.13</u>, a Subsidiary created or acquired as permitted by <u>Section 7.1(e)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Investments not to exceed the Threshold Amount in the aggregate in any Fiscal Year consisting of (i) travel advances, employee relocation loans and other employee loans and advances, in each case, in the Ordinary Course of Business, and (ii) loans to employees, officers or directors relating to the purchase of Equity Interests of any Obligor pursuant to employee stock purchase plan agreements approved by the applicable Obligor's Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) transactions expressly permitted by <u>Section 7.4</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Investments (including debt obligations) received in connection with the bankruptcy or reorganization of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are not Affiliates, in the Ordinary Course of Business, <u>provided</u> that this clause (i) shall not apply to Investments of any Obligor in any Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Permitted Acquisitions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Investments constituting or required by the Permitted Schwazze Transactions; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) any other Investments, so long as the Transaction Conditions are met after giving pro forma effect thereto.

"<u>Permitted Lien</u>" means any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Liens granted in favor of Administrative Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) statutory Liens of landlords, carriers, warehousemen, processors, mechanics, materialmen or suppliers incurred in the Ordinary Course of Business and securing amounts not yet due or declared to be due by the claimant thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) zoning restrictions and easements, licenses, covenants and other restrictions affecting the use of Real Property imposed by law or arising in the Ordinary Course of Business that do not secure any monetary obligations, in each case, which do not interfere in any material respect with the value or use of the property to which such Lien is attached;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Liens in connection with purchase money Indebtedness with respect to Equipment and Capitalized Leases permitted under clause (d) of the definition of Permitted Indebtedness, <u>provided</u>, that such Liens attach only to the assets the purchase of which was financed by such purchase money indebtedness or which is the subject of such Capitalized Leases;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) [reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Liens specifically permitted by Administrative Agent in writing in its discretion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Liens for taxes, assessments and other government charges or levies not yet due and payable or which are being Properly Contested;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Liens consisting of deposits or pledges made in the Ordinary Course of Business in connection with workers' compensation, unemployment, social security and similar laws, or to secure the performance of statutory obligations, bids, leases, government contracts, trade contracts, and other similar obligations (exclusive of obligations for the payment of borrowed money);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Liens of collecting banks under the UCC on items in the course of collection and normal and customary rights of set-off of banks not given in connection with the issuance of Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Liens arising from filing precautionary UCC financing statements relating solely to leases not prohibited by this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Liens on cash and cash equivalents on deposit with any bank or other depository institution securing obligations owing to such Persons under any treasury, depository, overdraft or other cash management services agreements or arrangements with any Obligor obtained in the Ordinary Course of Business of such Obligor and not Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Liens arising out of conditional sale, title retention, consignment or similar arrangements for sale of goods entered into by any Obligor in the Ordinary Course of Business and not prohibited by this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Liens on the property or assets of an Obligor securing Indebtedness permitted under clause (e) of the definition of Permitted Indebtedness, so long as such Lien exists prior to the consummation of such Permitted Acquisition and is not created in contemplation of or in connection with such Permitted Acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) judgment Liens in respect of judgments that do not constitute an Event of Default under <u>Section 8.1(f)</u> or <u>8.1(r)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) restrictions or conditions imposed on creating, incurring or allowing Liens by any agreement relating to secured Permitted Indebtedness, if such restrictions or conditions apply only to the property securing such Permitted Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) any customary restrictions and conditions imposed on creating, incurring or allowing Liens contained in agreements relating to an Asset Disposition pending such Asset Disposition, <u>provided</u> that such restrictions and conditions apply only to the property to be sold or disposed of and such Asset Disposition is a Permitted Asset Disposition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) customary provisions in Leases restricting the assignment or sublet thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) [\*\*\*]; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) any other Liens on the property or assets of an Obligor securing Permitted Indebtedness so long as such Permitted Indebtedness is below the Threshold Amount in the aggregate.

"<u>Permitted Schwazze Transactions</u>" means any transaction or series of transactions undertaking at the election of the Parent that give effect to any or all of the following from time to time:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the acquisition of all of Parent's Equity Interests by Vireo CO, together with any related changes in Authorized Officers of Parent as a result thereof and the amendment and restatement of the limited liability company agreement of Parent in form and substance substantively identical to the draft of such document most recently provided to Administrative Agent prior to the First Amendment Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Acquisition by Parent of all the Equity Interests of Vireo Rocky Mountain, on terms and conditions disclosed to Administrative Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the MMT Acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) [\*\*\*];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the PharmaCann Acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) (i) the contribution of the Schwazze Bonds by Vireo CO owned by Vireo CO to Parent and (ii) Parent's subsequent exchange of such Schwazze Bonds with Vireo Rocky Mountain for Equity Interests in Vireo Rocky Mountain;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the use of the proceeds of the Loans in an aggregate amount not to exceed $15,000,000 to finance the Acquisition described in clause (b) above and for other investment purposes, in each case, as required by the terms and conditions of the Restructuring Support Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) at the election of Parent, (i) the assignment by Parent of its rights and obligations hereunder to Vireo Rocky Mountain or any of its Subsidiaries, subject to <u>Section 11.6</u>, and the release of Parent from its obligations hereunder on terms and conditions reasonably acceptable to Administrative Agent or (ii) the joinder of Vireo Rocky Mountain as an Obligor under this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the entry into the Vireo Rocky Mountain Management Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) the entry into the Consulting Agreement.

"<u>Permitted Tax Distributions</u>" means cash Distributions to the holders of Equity Interests in any Obligor no more frequently than once per fiscal quarter in an amount that does not exceed the amount necessary to pay U.S. federal, state and local income taxes solely attributable to the holders' distributive shares of the taxable income of such Obligor, determined assuming each holder is subject to taxation at a rate equal to the highest U.S. federal, state and local income tax rate payable by any direct or indirect holder of Equity Interests in such Obligor for the applicable tax year, <u>provided</u> that such Distribution is permitted under applicable law.

"<u>Person</u>" means an individual, partnership, corporation, limited liability company, limited liability partnership, joint stock company, land trust, business trust or unincorporated organization, or a government or agency, department or other subdivision thereof.

"<u>PharmaCann</u>" shall have the meaning set forth in the Vireo Rocky Mountain Loan Agreement.

"<u>PharmaCann Acquisition</u>" shall have the meaning set forth in the Vireo Rocky Mountain Loan Agreement.

"<u>PharmaCann Subsidiary</u>" shall have the meaning set forth in the Vireo Rocky Mountain Loan Agreement.

"<u>PharmaCann Transaction Documents</u>" shall have the meaning set forth in the Vireo Rocky Mountain Loan Agreement.

"<u>Plan</u>" means an employee pension benefit plan that is covered by Title IV of ERISA or subject to the minimum funding standards under Section 412 of the Code and any employee benefit plan within the meaning of Section 3(3) of ERISA that is either (a) maintained by any Obligor for employees or (b) maintained pursuant to a collective bargaining agreement or any other arrangement under which more than one employer makes contributions and to which any Obligor is then making or accruing an obligation to make contributions or has within the preceding five years made or accrued such contributions.

"<u>Pledge Agreement</u>" means any pledge agreement to which any Pledgor and Administrative Agent are parties to secure the Obligations or a Guaranty.

"<u>Pledgor</u>" means (a) prior to the Vireo Acquisition, Siham Bouziane Tigoudar, and (b) thereafter, any Person that has granted a Lien on the Equity Interests held by such Person in Parent.

"<u>Properly Contested</u>" means, in the case of any Indebtedness or Taxes of a Person or any Subsidiary thereof that are not paid as and when due or payable by reason of such Person's or such Subsidiary's bona fide dispute concerning its liability to pay same or concerning the amount thereof, (a) such Indebtedness or Taxes are being properly contested in good faith by appropriate proceedings promptly instituted and diligently conducted and (b) such Person or such Subsidiary has established appropriate reserves as shall be required in conformity with GAAP.

"<u>Real Property</u>" means, with respect to any Person, all right, title and interest of such Person (including any leasehold estate) in and to a parcel of real property owned, leased or operated by such Person together with, in each case, all improvements and appurtenant fixtures, equipment, personal property, easements and other property and rights incidental to the ownership, lease or operation thereof.

"<u>Recipient</u>" means Administrative Agent or any Lender, as applicable.

"<u>Release</u>" means any actual or threatened release, spill, emission, leaking, dumping, injection, pouring, deposit, disposal, discharge, dispersal, leaching or migration into or through the environment or within or upon any building, structure, facility or fixture.

"<u>Reportable Event</u>" means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30-day notice period has been waived.

"<u>Required Lenders</u>" means any Lender or Lenders having Total Credit Exposures representing greater than 50.00% of the sum of the Total Credit Exposures of all Lenders.

"<u>Rescindable Amount</u>" shall have the meaning set forth in <u>Section 2.3(g)</u>.

"<u>Restricted Cannabis Activities</u>" means, in connection with the cultivation, distribution, sale and possession of cannabis and related products, each of the following: (a) any activity that is not permitted under applicable US State Cannabis Laws; (b) knowingly distributing or selling cannabis or related products to minors; (c) payments to criminal enterprises, gangs, cartels and Persons subject to Sanctions; (d) non-compliance with applicable anti-terrorism laws and other applicable law relating to money-laundering; (e) diversion of cannabis and related products from states where it is legal under US State Cannabis Law to other states; (f) use of activities permitted under US State Cannabis Law as a cover or pretext for the trafficking of other controlled substances or illegal drugs or other illegal activity; (g) the commission, or making threats, of violence and the use of firearms; (h) growing cannabis and related products on public lands; and (i) directly or indirectly, aiding, abetting or otherwise participating in a common enterprise with any Person or Persons in such activities. For the avoidance of doubt, an activity that becomes a Restricted Cannabis Activity pursuant to a change in US State Cannabis Law shall not be deemed to be a Restricted Cannabis Activity until the later of (x) the date that such new US State Cannabis Law becomes effective, and (y) the date any Obligor is required to be compliant with such US State Cannabis Law.

"<u>Restricted Payment</u>" means (a) Distributions; (b) loans by an Obligor to any direct holder of its Equity Interests other than pursuant to this Agreement, the other Loan Documents or the Vireo Rocky Mountain Loan Agreement; and (c) any payment of management, consulting or similar fees payable by any Obligor or any Subsidiary of an Obligor to any Affiliate.

"<u>Restructuring Support Agreement</u>" means that certain Restructuring Support Agreement, dated as of October 10, 2025, among Medicine Man Technologies Inc. and the other Persons party thereto, as modified by that certain Joinder Agreement and Correction of Scrivener's Errors.

"<u>Sale and Leaseback Transaction</u>" means any arrangement with any Person providing, directly or indirectly, for the leasing by any Obligor or any of its Subsidiaries of real or personal property which has been or is to be sold or transferred by any Obligor or any of its Subsidiaries to such Person or to any other Person to whom funds have been or are to be advanced by such Person on the security of such property or rental obligations of any Obligor or any of its Subsidiaries.

"<u>Sanctioned Country</u>" means, at any time, a country, region or territory which is itself the subject or target of any Sanctions.

"<u>Sanctioned Person</u>" means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by OFAC, the U.S. Department of State or by the United Nations Security Council, or other applicable sanctions authority, (b) any Person operating, organized or resident in a Sanctioned Country, (c) any Person owned or controlled by any such Person or Persons described in the foregoing clauses (a) or (b), or (d) any Person otherwise the subject of any applicable Sanctions.

"<u>Sanctions</u>" means all economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by OFAC or the U.S. Department of State, or (b) the United Nations Security Council, or other applicable sanctions authority.

"<u>Schwazze Bonds</u>" means those certain 13% Senior Secured Convertible Notes due December 7, 2026, issued by Medicine Man Technologies, Inc., d/b/a Schwazze, a Nevada corporation.

"<u>Secured Creditors</u>" means, collectively, (a) each Lender, (b) Administrative Agent, (c) each beneficiary of each indemnification obligation undertaken by any Obligor under the Loan Documents, (d) any successors, endorsees, transferees and assigns of each of the foregoing to the extent any such transfer or assign is permitted by the terms of this Agreement and (e) any other holder of any Obligation.

"<u>Solvent</u>" means, as to any Person, such Person and its Subsidiaries, taken as a whole, (a) is able to pay all of its debts as such debts mature, (b) has capital that is not unreasonably small for its business and is sufficient to carry on its business and transactions and all business and transactions in which it is about to engage, (c) is not "insolvent" within the meaning of Section 101(32) of the Bankruptcy Code and (d) has not incurred (by way of assumption or otherwise) any obligations or liabilities (contingent or otherwise) under any of the Loan Documents, or made any conveyance pursuant to or in connection therewith, with actual intent to hinder, delay or defraud either present or future creditors of such Person.

"<u>Specified Event of Default</u>" means an Event of Default arising under <u>Section 8.1(a)</u>, <u>8.1(b)</u> (but solely with respect to noncompliance with <u>Section 6.5</u> or <u>6.7</u>) or <u>8.1(e)</u>.

"<u>Subordinated Debt</u>" means any Indebtedness of an Obligor which is subject to a subordination or intercreditor agreement with Administrative Agent in form and content acceptable to Administrative Agent.

"<u>Subsidiary</u>" means, of any Person, a corporation or other entity of whose Equity Interests having ordinary voting power (other than Equity Interests having such power only by reason of the happening of a contingency) to elect a majority of the directors of such corporation, or other Persons performing similar functions for such entity, are owned, directly or indirectly, by such Person.

"<u>Taxes</u>" means any present or future taxes, levies, imposts, duties, fees, assessments, deductions, withholdings or other charges of whatever nature, including income, receipts, excise, property, sales, use, transfer, license, payroll, withholding, social security and franchise taxes now or hereafter imposed or levied by any Governmental Authority and all interest, penalties, additions to tax and similar liabilities with respect thereto.

"<u>Threshold Amount</u>" means $2,000,000.

"<u>Title Policy</u>" means each ALTA Policy for Title Insurance issued by a title company acceptable to Administrative Agent with respect to a parcel of Mortgaged Property, in form and substance satisfactory to Administrative Agent.

"<u>Total Credit Exposure</u>" means, as to any Lender at any time, the unused Loan Commitment of such Lender at such time and the outstanding aggregate principal amount of the Loans of such Lender at such time.

"<u>Total Leverage Ratio</u>" shall have the meaning set forth in the Vireo Rocky Mountain Loan Agreement.

"<u>Transaction Conditions</u>" mean, with respect to any Permitted Acquisition, Asset Disposition, Indebtedness, Investment, Restricted Payment or other applicable transaction, after giving pro forma effect to such transaction, (a) (i) if such transaction is a Permitted Acquisition or the incurrence of Indebtedness described in clause (e) of the definition of Permitted Indebtedness, no Specified Event of Default has occurred and is continuing or would immediately occur as a result thereof, and (ii) otherwise, no Event of Default has occurred and is continuing or would immediately occur as a result thereof, (b) the Total Leverage Ratio is not more than 2.50:1.00 and (c) Liquidity is not less than $5,000,000. Clauses (b) and (c) of the Transaction Conditions shall be measured (x) at the election of Parent, as of either (i) the consummation date of such transaction or (ii) the effective date of such contract or agreement and (y) with respect to calculation of the Total Leverage Ratio, as provided in the Vireo Rocky Mountain Loan Agreement.

"<u>Transactions</u>" means (a) the execution, delivery and performance by each Obligor and each Pledgor of each Loan Document to which it is a party, (b) the making of the Loans and (c) the use of the proceeds of the Loans.

"<u>UCC</u>" means the Uniform Commercial Code as the same may, from time to time, be enacted and in effect in the State of New York; <u>provided</u> that to the extent that the UCC is used to define any term herein or in any Loan Document and such term is defined differently in different Articles of the UCC, the definition of such term contained in Article 9 shall govern; <u>provided</u>, <u>further</u>, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection or priority of, or remedies with respect to, Administrative Agent's Lien on any Collateral is governed by the Uniform Commercial Code as enacted and in effect in a jurisdiction other than the State of New York, the term "UCC" means the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely for purposes of the provisions thereof relating to such attachment, perfection, priority or remedies and for purposes of definitions related to such provisions.

"<u>UFCA</u>" shall have the meaning set forth in <u>Section 2.11(c)</u>.

"<u>UFTA</u>" shall have the meaning set forth in <u>Section 2.11(c)</u>.

"<u>United States</u>" and "<u>U.S.</u>" mean the United States of America.

"<u>U.S. Person</u>" means any Person that is a "United States Person" as defined in Section 7701(a)(30) of the Code.

"<u>U.S. Tax Compliance Certificate</u>" has the meaning specified in <u>Section 2.12(g)(ii)(B)(3)</u>.

"<u>US Federal Cannabis Law</u>" means any federal laws of the United States treating cannabis, related products or any Cannabis Business as illegal.

"<u>US State Cannabis Law</u>" means all of the laws, rules, regulations and guidance issued by the Licensing Division and any other law enacted by any state or other Governmental Authority which implements regulatory or enforcement systems to control cannabis, related products or any Cannabis Business.

"<u>Vireo Acquisition</u>" means the acquisition by Vireo Health of Colorado, LLC, a Colorado limited liability company, of all of Pledgor's right, title, and interest in and to the Equity Interests of Parent, and all of Pledgor's liabilities and obligations relating to and arising under such Equity Interests, pursuant to the Vireo Acquisition Purchase Agreement.

"<u>Vireo Acquisition Purchase Agreement</u>" means that certain Membership Interest Assignment Agreement, dated on or about the First Amendment Date, by and between Pledgor and Vireo Health of Colorado, LLC, a Colorado limited liability company.

"<u>Vireo CO</u>" means Vireo Health of Colorado, LLC, a Colorado limited liability company.

"<u>Vireo Growth</u>" means Vireo Growth Inc., a British Columbia corporation.

"<u>Vireo Rocky Mountain</u>" means Vireo Health of Rocky Mountain, LLC, a Colorado limited liability company.

"<u>Vireo Rocky Mountain Loan Agreement</u>" means that certain Loan and Security Agreement dated on or about March 2, 2026, among Vireo Rocky Mountain, as a Borrower (as defined therein), Chicago Atlantic Financial Services, LLC, as administrative agent, and the other parties thereto from time to time.

"<u>Vireo Rocky Mountain Loan Documents</u>" means, collectively, the Vireo Rocky Mountain Loan Agreement and the other Loan Documents (as defined therein).

"<u>Vireo Rocky Mountain Management Agreement</u>" means that certain Management Fee Agreement between Vireo Rocky Mountain, on the one hand, and Vireo Health of Arcadia, LLC, a Delaware limited liability company, on the other hand.

"<u>Withholding Agent</u>" means each Obligor and Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2 <u>UCC Definitions</u>**. All other capitalized terms contained in this Agreement and not otherwise defined shall have, when the context so indicates, the meanings provided for by the UCC. Without limiting the generality of the foregoing, the following terms shall have the meaning ascribed to them in the UCC: Account Debtor; Chattel Paper; Commercial Tort Claim; Commodity Account; Deposit Account; Document; Electronic Chattel Paper; Equipment; Fixtures; Goods; Instrument; Inventory; Investment Property; Letter-of-Credit Right; Payment Intangible; Security; Securities Account; Software; and Supporting Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.3 <u>Consolidated Entities</u>**. The word "consolidated" means, when used with reference to financial statements and financial statement items, in each case, of Obligors and their respective Subsidiaries, (a) as to each Obligor, on a consolidated basis with its Subsidiaries, and (b) as to Obligors, on a combined basis after giving effect to each consolidation described in clause (a) of this sentence.

**SECTION 2. LOANS AND TERMS OF REPAYMENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1 <u>The Loans</u>**. Subject to and upon the terms and conditions set forth herein, each Lender shall, severally in accordance with its Loan Commitment Ratio and not jointly with any other Lender, make a term loan (each, a "<u>Loan</u>," and collectively, the "<u>Loans</u>") to Borrowers on the Closing Date, which Loan (x) when aggregated with each other Loan made hereunder (but excluding, for the avoidance of doubt, all interest that is paid in kind and deemed to be a part of the principal amount of the Loans pursuant to <u>Section 2.5(a)</u>), shall be in an amount not to exceed the Aggregate Commitment and (y) for each Lender, when aggregated with each other Loan made by such Lender hereunder (but excluding, for the avoidance of doubt, all interest that is paid in kind and deemed to be a part of the principal amount of the Loans pursuant to <u>Section 2.5(a)</u>), shall be in an amount not to exceed, for each Lender, such Lender's Loan Commitment.

Each Loan may be repaid or prepaid in accordance with the provisions hereof, but once repaid or prepaid may not be reborrowed. The Loan Commitments shall terminate concurrently with the advance of the Loans on the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2 <u>Disbursement of Loans</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If all of the conditions set forth in <u>Section 4.1</u> to the effectiveness of this Agreement are met prior to 10:00 a.m. on the Business Day immediately prior to the Closing Date, then, each Lender will make available its *pro rata* portion of the Loans to be made on the Closing Date in the manner provided in <u>Section 2.2(b)</u> no later than 3:00 p.m. on the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Lender shall make available all amounts it is to fund to Borrowers in immediately available funds and in Dollars to Administrative Agent in an account designated by Administrative Agent, and, following receipt thereof in such account, Administrative Agent will remit such amounts, in immediately available funds and in Dollars, as set forth in the Disbursement Letter on the Closing Date. The failure of any Lender to make available the amounts it is to fund to Borrowers hereunder or to make a payment required to be made by it under any Loan Document shall not relieve any other Lender of its obligations under any Loan Document, but no Lender shall be responsible for the failure of any other Lender to make any payment required to be made by such other Lender under any Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding anything to the contrary herein, following the funding by the Lenders of the Loans on the Closing Date, Administrative Agent shall hold all of the proceeds of such Loans (the "<u>Permitted Acquisition Reserve Amount</u>") in an account designated by Administrative Agent (the "<u>Permitted Acquisition Reserve Account</u>"). On the first Business Day after the Closing Date, Administrative Agent will disburse $10,000,000 of the Permitted Acquisition Reserve Amount as reasonably directed by Parent to facilitate the acquisition of the Schwazze Bonds. Thereafter, (i) Borrowers may, from time to time prior to March 24, 2026, request all or a portion of the Permitted Acquisition Reserve Account, up to $15,000,000 (the "<u>Available Investment Amount</u>"), be disbursed by Administrative Agent as reasonably directed by Parent to finance any Permitted Acquisition and, if so requested, Administrative Agent shall disburse such funds from the Permitted Acquisition Reserve Account in accordance with the directions of Parent, and (ii) Administrative Agent may, in its reasonable discretion or at the direction of the Required Lenders and without prior notice to Borrowers, withdraw funds from the Permitted Acquisition Reserve Account from time to time to reimburse itself and the Lenders for any Lender Expenses that are due and owing and to pay interest that is due and owing in cash. Any Available Investment Amount not used for the purposes described in clause (i) above on or before March 24, 2026, may be used by Borrowers are permitted by <u>Section 6.11</u>. Administrative Agent shall have exclusive control, including the exclusive right of withdrawal, over the Permitted Acquisition Reserve Amount. Such monies shall not bear interest or profits for the account of Borrowers.

Nothing in this <u>Section 2.2</u> shall be deemed to relieve any Lender from its obligation to fulfill its commitments and obligations hereunder or to prejudice any rights that Borrowers may have against such Lender as a result of any default by such Lender hereunder (it being understood, however, that no Lender shall be responsible for the failure of any other Lender to fulfill its commitments and obligations hereunder).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3 <u>Payments</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Borrowers agree to pay to Administrative Agent, for the benefit of Lenders, the outstanding principal of the Loans and accrued and unpaid interest due thereon on the Maturity Date or upon such earlier date on which the Obligations are accelerated pursuant to the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Interest on the Loans shall be due and payable as provided in <u>Section 2.5</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Obligations requiring the payment of money, if any, shall be due and payable as and when provided in the Loan Documents, or, if the date of payment is not specified in the Loan Documents, on demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Payments due hereunder, under any other Loan Document or otherwise payable to Administrative Agent or any other Secured Creditor in connection with the Transactions shall be made in Dollars, in immediately available funds and, unless otherwise required by <u>Section 2.12(b)</u>, free and clear of, and without condition, deduction for or withholding for, any claim, counterclaim, defense, recoupment, setoff or Taxes not later than 2:00 p.m. on the date when due. Except as provided in the definition of Payment Date, whenever any payment of any Obligations shall be due on a day that is not a Business Day, including the Maturity Date, the date for payment thereof shall be the immediately preceding Business Day. If any amount applied to the Obligations is subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or any other Person, then the Obligations or part thereof originally intended to be satisfied, and all Liens, rights and remedies therefor, shall be revived and continued in full force and effect as if such amount had not been made or received. The provisions hereof shall survive payment in full of the Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Borrowers shall make each payment under any Loan Document by transfer to Administrative Agent's or the applicable Lender's account, as the case may be, pursuant to wire transfer instructions provided by Administrative Agent or such Lender, or, at the option of Administrative Agent or any Lender, in such manner and at such place in the United States as Administrative Agent or such Lender shall have designated to Borrowers in writing. Without limiting the generality of the foregoing, Borrowers agree that all such payments to Administrative Agent and each Lender may be made, at the option of Administrative Agent or any such Lender, by ACH or other electronic payment pursuant to an Authorization Agreement for Pre-Authorized Payments (Debit) in a form approved by Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) In addition to the foregoing, each Borrower hereby irrevocably promises to pay all Obligations, including the outstanding principal amount of the Loans and interest and fees with respect to the foregoing, as the same become due and payable hereunder and, in any event, on the Maturity Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Unless Administrative Agent shall have received notice from Borrowers prior to the date on which any payment is due to Administrative Agent for the account of Lenders hereunder that Borrowers will not make such payment, Administrative Agent may assume that Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the applicable Lenders, as the case may be, the amount due. With respect to any payment that Administrative Agent makes for the account of Secured Creditors hereunder as to which Administrative Agent determines (which determination shall be conclusive absent manifest error) that any of the following applies (such payment referred to as the "<u>Rescindable Amount</u>"): (i) Borrowers have not in fact made such payment; (ii) Administrative Agent has made a payment in excess of the amount so paid by Borrowers (whether or not then owed); or (iii) Administrative Agent has for any reason otherwise erroneously made such payment, then each applicable Secured Creditor severally agrees to repay to Administrative Agent forthwith on demand the amount so distributed to such Secured Creditor, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to Administrative Agent, at the greater of the Federal Funds Rate and a rate determined by Administrative Agent in accordance with banking industry rules on interbank compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.4 <u>Prepayments</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Borrowers may, at their option, prepay the outstanding principal amount of the Loans in whole or in part. Borrowers shall give Administrative Agent prior notice of at least [\*\*\*] Business Days (or such shorter amount of notice permitted by Administrative Agent in writing in its reasonable discretion) before such prepayment, and each such notice shall be irrevocable (unless Administrative Agent otherwise agrees in its discretion). In the event that Borrowers elect to so prepay the Loans or in the event that the Loans are accelerated upon or after the occurrence of an Event of Default, such prepayment may be made by paying the then outstanding aggregate principal amount of the Loans, together with all interest accrued at such Payment Date and, unless Administrative Agent otherwise waives payment thereof (in whole or in part) in its discretion, the applicable Make-Whole Amount. Notwithstanding the foregoing, no Make-Whole Amount shall be payable in the event the Loans are refinanced, in their entirety, with one or more credit facilities extended to Parent, Vireo Rocky Mountain or any of their respective Subsidiaries pursuant to a transaction agented by Chicago Atlantic or Chicago Atlantic Financing Services, LLC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Borrowers shall prepay the Obligations within [\*\*\*] Business Days of receipt of, and in an amount equal to 100.00% of, the (i) Net Cash Proceeds received by any Borrower in connection with any Asset Disposition other than any Permitted Asset Disposition or any other transaction permitted under <u>Section 7.4(b)</u>; (ii) Net Cash Proceeds in an aggregate amount in excess of the Threshold Amount received by any Borrower in connection with one or more Casualty Events; and (iii) Extraordinary Receipts in an aggregate amount in excess of the Threshold Amount received by any Borrower; <u>provided</u>, that, in the case of the foregoing clauses (ii) and (iii), if no Event of Default has occurred and is continuing, such prepayment shall not be required to the extent any Borrower reinvests such Net Cash Proceeds from such Casualty Event or Extraordinary Receipt in working capital or replacement assets or other capital assets (other than Inventory, cash or cash equivalents) of a kind then used or usable in the business of any Borrower or any Subsidiary, within [\*\*\*] days after the date of such Casualty Event or Extraordinary Receipt, or enters into a binding commitment thereof within said [\*\*\*] day period and subsequently makes such reinvestment within an additional [\*\*\*] days thereafter. Any mandatory prepayment of the Loans made pursuant to this <u>Section 2.4(b)</u> shall be accompanied by all accrued interest on the amount prepaid and the applicable Make-Whole Amount. Notwithstanding the foregoing, nothing in this <u>Section 2.4(b)</u> shall be construed to permit or waive any Default or Event of Default arising from any event or action described in this <u>Section 2.4(b)</u> not permitted under the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Subject to <u>Section 2.4(d)</u>, all amounts payable pursuant to this <u>Section 2.4</u> shall be applied as follows: <u>first</u>, to all then unpaid Fees and Lender Expenses of Administrative Agent then due; <u>second</u>, pro rata, to all then unpaid Fees and Lender Expenses of Lenders then due; <u>third</u>, pro rata, to all accrued and unpaid interest on the Loans then due; and <u>fourth</u>, pro rata (unless Administrative Agent otherwise agrees in its discretion), to the outstanding aggregate principal balance of the Loans; <u>provided</u>, <u>however</u>, that the reduction of the aggregate principal balance of the Loans shall not affect the amount or timing of principal payments required under this Agreement until the balance of such payments is reduced to zero.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding anything to the contrary in this <u>Section 2.4</u>, all proceeds of Collateral received by Administrative Agent or any other Person pursuant to the exercise of remedies against the Collateral, and all payments received upon and after the acceleration of the maturity of any of the Obligations following the occurrence of an Event of Default shall be applied as follows (subject to adjustments pursuant to any agreements entered into among Lenders):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>first</u>, to pay any Lender Expenses of Administrative Agent (in its capacity as Administrative Agent) and fees then due to Administrative Agent (in its capacity as Administrative Agent) under the Loan Documents or otherwise, including any indemnities then due to Administrative Agent (in its capacity as Administrative Agent) under the Loan Documents, until paid in full;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>second</u>, ratably to pay any Lender Expenses of Lenders (each in its capacity as a Lender) and indemnities then due to any Lender (each in its capacity as a Lender) under the Loan Documents until paid in full,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>third</u>, ratably to pay interest due in respect of the outstanding Loans until paid in full,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) <u>fourth</u>, ratably to pay the outstanding principal balance of the Loans until the Loans are paid in full,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) <u>fifth</u>, to pay any other Obligations, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) <u>sixth</u>, to Borrowers or such other Person entitled thereto under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Except as otherwise required by <u>Section 2.4(d)</u>, any mandatory prepayment pursuant to <u>Section 2.4(b)</u> may be declined in whole or in part by any Lender, with the consent of Parent, without prejudice to such Lender's rights hereunder to accept or decline any future payments in respect of any mandatory prepayment. If a Lender chooses not to accept payment in respect of a mandatory prepayment, in whole or in part, and Parent consents to such choice, the other Lenders that accept such mandatory prepayment shall have the option to share such proceeds on a pro rata basis (and if declined by all Lenders, such declined proceeds shall be retained by Borrowers). Each Lender shall have until the Business Day immediately preceding the Business Day on which such prepayment is due in order to decline such prepayment (and any election by a Lender delivered prior to such Business Day can be rescinded by such Lender at its reasonable discretion until such Business Day).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.5 <u>Interest</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as otherwise provided in <u>Section 2.5(b)</u>, the unpaid principal amount of the Loans shall bear interest from the Closing Date at the Interest Rate and such interest shall be due and payable in cash on each Payment Date, in arrears, with the first installment being payable on October 1, 2025; <u>provided</u>, <u>however</u>, that during the period commencing on the Closing Date until June 3, 2026, such interest shall be due and payable in kind and on the each Payment Date during such period such paid-in-kind interest that is accrued and unpaid and that has not been previously added to the principal amount of the Loans shall be added, and amounts so added shall thereafter be deemed to be a part of the principal amount of the Loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All interest accruing while an Event of Default exists shall be paid upon demand, and all amounts chargeable to Borrowers under <u>Section 2.6</u> shall, at the election of Administrative Agent in its discretion, bear interest from the date such demand is made, or such later date to which Administrative Agent agrees in its discretion, until paid in full at the Interest Rate or the Default Rate, as applicable. At any time that an Event of Default exists, interest shall accrue at the Default Rate at the election of Administrative Agent in its discretion from the date of the occurrence thereof or such later date to which Administrative Agent agrees in its discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) All computations of interest and fees hereunder shall be made on the basis of a year consisting of 360 days, with regard to the actual number of days (including the first day and the last day) elapsed. Interest on each Loan shall accrue for each day, from and including the date such Loan is made available to Borrowers through and including the date of repayment in full.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.6 <u>Fees and Reimbursement of Expenses</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) On the Closing Date and the date of the Vireo Rocky Mountain Loan Agreement, Borrowers shall reimburse Administrative Agent for its Lender Expenses incurred in connection with the consummation of the transactions contemplated hereby or by the First Amendment, as the case may be. Borrowers shall reimburse Administrative Agent and each Lender for all Lender Expenses after the Closing Date (i) if an Event of Default exists, on demand, and (ii) otherwise, within [\*\*\*] days of demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All fees to be paid to Administrative Agent or any Lender under or in connection with the Transactions: shall be fully earned by Administrative Agent and such Lender when due and payable; shall not be subject to rebate, refund or proration under any circumstances; are and shall be deemed to be for compensation for services; and are not, and shall not be deemed to be, interest or any other charge for the use, forbearance or detention of money. All amounts chargeable to Borrowers under this <u>Section 2.6</u> shall be Obligations secured by the Collateral and shall be payable to Administrative Agent, on behalf of Administrative Agent and Lenders (i) if an Event of Default exists, on demand, and (B) otherwise, within [\*\*\*] days of demand. Notwithstanding anything to the contrary in any of the Loan Documents, the obligations of Borrowers under this <u>Section 2.6</u> shall survive the payment in full of the Obligations and termination of the Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.7 <u>Maximum Interest</u>**. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under applicable law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under applicable law: (a) the interest rates hereunder will be reduced to the maximum rate permitted under applicable law; (b) such excess amount shall be first applied to any unpaid principal balance owed by Borrowers; and (c) if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.8 <u>Notes; Loan Account; Account Stated</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) At the option of a Lender, the Loans advanced by such Lender or its Loan Commitment shall be evidenced by one or more Notes. Each Note shall be issued by Borrowers to the applicable Lender and shall be duly executed and delivered by an Authorized Officer of each Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness of Borrowers to the appropriate lending office of such Lender resulting from each Loan made by such lending office of such Lender from time to time, including the amounts of principal and interest payable and paid to such lending office of such Lender from time to time under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Administrative Agent shall maintain for its books an account (the "<u>Loan Account</u>") evidencing the Obligations resulting from Loans, including the amount of principal and interest payable from time to time hereunder. Administrative Agent shall debit the Loan Account for the principal amount of the Loans, accrued interest thereon and all other amounts which shall become due from Borrowers pursuant to this Agreement or the other Loan Documents, and shall credit the Loan Account for each payment which Borrowers shall make to it, individually or on behalf of Lenders, in respect to the Obligations. Any failure of Administrative Agent to make an entry in the Loan Account, or any error in doing so, shall not limit or otherwise affect the agreement of Borrowers to repay the Obligations in accordance with the Loan Documents. The entries made in the Loan Account shall constitute conclusive evidence of the information therein, absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.9 <u>Application of Payments and Collections</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Borrower irrevocably waives the right to direct the application of any and all payments and collections at any time or hereafter received by Administrative Agent or any Lender from or on behalf of such Borrower and agrees that Administrative Agent, on behalf of Administrative Agent and Lenders, shall have the continuing right to apply and reapply any and all such payments and collections received at any time hereafter against the Obligations, in such manner as Administrative Agent may deem advisable, subject to <u>Sections 2.4(c), 2.4(d)</u>, <u>2.4(e)</u>, <u>2.4(f)</u> and <u>2.4(g)</u> and any other applicable express provision of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any and all proceeds of Collateral, payments and collections received by Administrative Agent, for the benefit of Administrative Agent and Lenders, on account of the Obligations shall be applied by Administrative Agent such that each Lender shall receive an amount equal to its *pro rata* share (based on the proportion that the then outstanding Loans held by such Lender bears to the aggregate then outstanding aggregate principal amount of the Loans) thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any and all payments, collections and proceeds of Collateral received by any Lender directly shall be promptly delivered to Administrative Agent in the original form received to be applied as provided in <u>Section 2.4(c)</u> or <u>Section 2.4(d)</u>, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.10 <u>Collateral</u>**. All of the Obligations, including the Loans, shall be secured by a continuing security interest and Lien upon the Collateral.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.11 <u>Joint and Several Obligations</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All Obligations shall constitute joint and several obligations of Borrowers and shall be secured by Administrative Agent's security interest and Lien upon all of the Collateral. Each Borrower expressly represents and acknowledges that any financial accommodation by Administrative Agent or any Lender to any other Borrower hereunder and under the other Loan Documents are and will be of direct and indirect interest, benefit and advantage to all Borrowers. Each Borrower acknowledges that any notice given by any other Borrower to Administrative Agent or any Lender shall bind all Borrowers, and that any notice given by Administrative Agent or any Lender to any Borrower shall be effective with respect to all Borrowers. Each Borrower acknowledges and agrees that each Borrower shall be liable, on a joint and several basis, for the Loans and all other Obligations, regardless of which Borrower actually may have received the proceeds of the Loans or other extensions of credit or the amount of the Loans or other extensions of credit received or the manner in which Administrative Agent or any Lender accounts among Borrowers for the Loans or other Obligations on its books and records, and further acknowledges and agrees that the Loans and other extensions of credit to any Borrower inure to the mutual benefit of all of Borrowers and that each of Administrative Agent and Lenders is relying on the joint and several liability of Borrowers in extending the Loans and other financial accommodations under the Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Borrower shall be entitled to subrogation and contribution rights from and against the other Borrowers to the extent any Borrower is required to pay to Secured Creditors any amount in excess of the Loans directly to, or other Obligations incurred directly by, such Borrower or as otherwise available under applicable law; <u>provided</u>, <u>however</u>, that such subrogation and contribution rights are and shall be subject to the terms and conditions of <u>Sections 2.11(c)</u>, <u>2.11(d)</u>, <u>2.11(f)</u> and <u>2.11(g)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Borrower, and by its acceptance of this Agreement, each of Administrative Agent and Lenders hereby confirms that it is the intention of all such Persons that this Agreement and the Obligations of each Borrower hereunder not constitute a fraudulent transfer or conveyance for purposes of the Bankruptcy Code, the Uniform Fraudulent Conveyance Act (the "<u>UFCA</u>"), the Uniform Fraudulent Transfer Act (the "<u>UFTA</u>") or any other federal, state or foreign (including Canada) bankruptcy, insolvency, receivership or similar law to the extent applicable to this Agreement and the Obligations of each Borrower hereunder (collectively, the "<u>Avoidance Provisions</u>"). To effectuate the foregoing intention, each of Administrative Agent and Lenders, by its acceptance of this Agreement, and Borrowers hereby irrevocably agree that the Obligations of each Borrower under this Agreement at any time shall be limited to the maximum amount as will result in the Obligations of such Borrower under this Agreement not constituting a fraudulent transfer or conveyance (such Borrower's "<u>Maximum Borrower Liability</u>"). This <u>Section 2.11(c)</u> is intended solely to preserve the rights hereunder of Administrative Agent, each Lender and any other Person holding any of the Obligations to the maximum extent that would not cause the obligations of Borrowers hereunder to be subject to avoidance under any Avoidance Provisions, and none of Borrowers nor any other Person shall have any right, defense, offset, or claim under this <u>Section 2.11(c)</u> as against Administrative Agent, any Lender or any other Person holding any of the Obligations that would not otherwise be available to such Person under the Avoidance Provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) To the extent that any Borrower shall, under this Agreement, make a payment of a portion of the Obligations (each, an "<u>Obligor's Payment</u>"), then, without limiting its rights of subrogation against any Borrower, such Borrower shall be entitled to contribution and indemnification from, and be reimbursed by, each other Borrower and the other Guarantors (collectively, the "<u>Contributing Parties</u>") in an amount, for each such Contributing Party, equal to a fraction of such Obligor's Payment, the numerator of which fraction is such Contributing Party's Allocable Amount and the denominator of which is the sum of the Allocable Amounts of all of the Contributing Parties. As of any date of determination, the "<u>Allocable Amount</u>" of each Contributing Party shall be equal to the maximum amount of liability which could be asserted against such Contributing Party hereunder with respect to the applicable Obligor's Payment without (i) rendering such Contributing Party "insolvent" within the meaning of Section 101(31) of the Bankruptcy Code or Section 2 of either the UFTA or the UFCA, (ii) leaving such Contributing Party with unreasonably small capital, within the meaning of Section 548 of the Bankruptcy Code, Section 4 of the UFTA or Section 5 of the UFCA, or (iii) leaving such Contributing Party unable to pay its debts as they become due within the meaning of Section 548 of the Bankruptcy Code, Section 4 of the UFTA or Section 6 of the UFCA. Each Borrower's right of contribution shall be subject to the terms and conditions of <u>Sections 2.11(f)</u> and <u>2.11(g)</u>. The provisions of this <u>Section 2.11</u> shall in no respect limit the obligations and liabilities of any Borrower to any Secured Creditor, and each Borrower shall remain liable to each Secured Creditor for the full amount guaranteed by such Borrower hereunder. Notwithstanding the foregoing, no provision of this <u>Section 2.11(d)</u> shall limit any Borrower's liability for any portion of the Loans advanced directly or indirectly to it under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Each Borrower agrees that the Obligations may at any time and from time to time exceed the Maximum Borrower Liability of such Borrower and may exceed the aggregate Maximum Borrower Liability of all Borrowers hereunder, without impairing this Agreement or any provision contained herein or affecting the rights and remedies of any Secured Creditor hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) No Borrower will exercise any rights which it may acquire by way of subrogation hereunder or under any other Loan Document or at law by any payment made hereunder or otherwise, nor shall any Borrower seek or be entitled to seek any contribution or reimbursement from any other Borrower in respect of payments made by such Borrower hereunder or under any other Loan Document, until all amounts owing to Secured Creditors on account of the Obligations are paid in full in cash. If any amounts shall be paid to any Borrower on account of such subrogation or contribution rights at any time when all of the Obligations shall not have been paid in full, such amount shall be held by such Borrower in trust for Secured Creditors, segregated from other funds of such Borrower, and shall, forthwith upon receipt by such Borrower, be turned over to Administrative Agent, for the benefit of Secured Creditors, in the exact form received by such Borrower (duly endorsed by such Borrower to Administrative Agent, if required), to be applied against the Obligations, whether matured or unmatured, as provided for herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Nothing in this <u>Section 2.11</u> shall affect any Borrower's joint and several liability to Secured Creditors for the entire amount of its Obligations. Each Borrower covenants and agrees that its right to receive any contribution hereunder from a Borrower shall be subordinate and junior in right of payment to all obligations of Borrowers to Secured Creditors under the Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.12 <u>Taxes</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Defined Terms</u>. For purposes of this <u>Section 2.12</u>, the terms "applicable law" and "law" includes FATCA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Payments Free of Taxes</u>. Any and all payments by or on account of any obligation of any Obligor under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as determined in the good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Obligor shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this <u>Section 2.12</u>) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding been made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Payment of Other Taxes by Obligors</u>. Obligors shall timely pay to the relevant Governmental Authority in accordance with applicable law, or at the option of Administrative Agent timely reimburse it for the payment of, any Other Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Indemnification by Obligors</u>. Obligors shall jointly and severally indemnify each Recipient, (i) if an Event of Default exists, on demand, and (ii) otherwise, within [\*\*\*] days of demand, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this <u>Section 2.12</u>) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to Parent by a Lender (with a copy to Administrative Agent), or by Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Indemnification by Lenders</u>. Each Lender shall severally indemnify Administrative Agent, within [\*\*\*] days of demand, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that any Obligor has not already indemnified Administrative Agent for such Indemnified Taxes and without limiting the obligation of Obligors to do so), (ii) any Taxes attributable to such Lender's failure to comply with the provisions of <u>Section 11.6(d)</u> relating to the maintenance of a Participant Register and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by Administrative Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by Administrative Agent to the Lender from any other source against any amount due to Administrative Agent under this <u>Section 2.12(e)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Evidence of Payments</u>. As soon as practicable after any payment of Taxes by any Obligor to a Governmental Authority pursuant to this <u>Section 2.12</u>, such Obligor shall deliver to Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Status of Lenders</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document shall deliver to Parent and Administrative Agent, at the time or times reasonably requested by Parent or Administrative Agent, such properly completed and executed documentation reasonably requested by Parent or Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by Parent or Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by Parent or Administrative Agent as will enable Parent or Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in <u>Sections 2.12(g)(ii)(A)</u>, <u>2.12(g)(ii)(B)</u> and <u>2.12(g)(ii)(D)</u>) shall not be required if in such Lender's reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Without limiting the generality of the foregoing, in the event that any Borrower is a U.S. Borrower,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) any Lender that is a U.S. Person shall deliver to Parent and Administrative Agent on or about the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of Parent or Administrative Agent), executed copies of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup withholding tax;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to Parent and Administrative Agent (in such number of copies as shall be requested by the recipient) on or about the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of Parent or Administrative Agent), whichever of the following is applicable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the "interest" article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or IRS Form W-8BEN-E establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the "business profits" or "other income" article of such tax treaty;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) executed copies of IRS Form W-8ECI;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in form and substance reasonably satisfactory to Administrative Agent and Parent to the effect that such Foreign Lender is not a "bank" within the meaning of Section 881(c)(3)(A) of the Code, a "10 percent shareholder" of any Borrower within the meaning of Section 871(h)(3)(B) of the Code, or a "controlled foreign corporation" related to any Obligor described in Section 881(c)(3)(C) of the Code (a "U.S. Tax Compliance Certificate") and (y) executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) to the extent a Foreign Lender is not the beneficial owner, executed copies of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, IRS Form W-8BEN-E, a U.S. Tax Compliance Certificate, IRS Form W-9, or other certification documents from each beneficial owner, as applicable; <u>provided</u> that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate on behalf of each such direct and indirect partner;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to Parent and Administrative Agent (in such number of copies as shall be requested by the recipient) on or about the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of Parent or Administrative Agent), executed copies of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law to permit Parent or Administrative Agent to determine the withholding or deduction required to be made; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to Parent and Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by Parent or Administrative Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by Parent or Administrative Agent as may be necessary for Parent and Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender's obligations under FATCA or to determine the amount, if any, to deduct and withhold from such payment. Solely for purposes of this clause (D), "FATCA" shall include any amendments made to FATCA after the First Amendment Date.

Each Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify Parent and Administrative Agent in writing of its legal inability to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Treatment of Certain Refunds</u>. If any party determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this <u>Section 2.12</u> (including by the payment of additional amounts pursuant to this <u>Section 2.12</u>), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this <u>Section 2.12</u> with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this <u>Section 2.12(h)</u> (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this <u>Section 2.12(h)</u>, in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this <u>Section 2.12(h)</u> the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This <u>Section 2.12(h)</u> shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Survival</u>. Each party's obligations under this <u>Section 2.12</u> shall survive the resignation or replacement of Administrative Agent or any assignment of rights by, or the replacement of, a Lender, and the repayment, satisfaction or discharge of all Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.13 <u>Mitigation Obligations; Replacement of Lenders</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Designation of a Different Lending Office</u>. If any Lender requires any Obligor to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to <u>Section 2.12</u>, then such Lender shall (at the request of Parent) use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to <u>Section 2.12</u> in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. Obligors hereby agree, jointly and severally, to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment within [\*\*\*] days of demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Replacement of Lenders</u>. If any Obligor is required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to <u>Section 2.12</u> and such Lender has declined or is unable to designate a different lending office in accordance with <u>Section 2.13(a)</u>, then Obligors may, at their joint and several expense and effort, upon notice to such Lender and Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, <u>Section 11.6</u>, all of its interests, rights (other than its existing rights to payments pursuant to <u>Section 2.12</u>) and obligations under this Agreement and the related Loan Documents to an Eligible Assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); <u>provided</u> that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Borrowers shall have paid to Administrative Agent the assignment fee (if any) specified in <u>Section 11.6</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents from the assignee (to the extent of such outstanding principal and accrued interest and fees) or Borrowers (in the case of all other amounts);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) such assignment will result in a reduction in such compensation or payments thereafter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) such assignment does not conflict with applicable law; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) a Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling Borrowers to require such assignment and delegation cease to apply.

Each party hereto agrees that (x) an assignment required pursuant to this <u>Section 2.13(b)</u> may be effected pursuant to an assignment and assumption agreement described in <u>Section 11.6(b)(iii)</u> executed by Parent, Administrative Agent and the assignee and (y) the Lender required to make such assignment need not be a party thereto in order for such assignment to be effective and shall be deemed to have consented to an be bound by the terms thereof; <u>provided</u> that, following the effectiveness of any such assignment, the other parties to such assignment agree to execute and deliver such documents necessary to evidence such assignment as reasonably requested by the applicable Lender; and <u>provided</u>, <u>further</u>, that any such documents shall be without recourse to or warranty by the parties thereto.

**SECTION 3. SECURITY**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1 <u>Grant of Security Interest</u>**. Each Obligor hereby unconditionally grants, assigns, and pledges to Administrative Agent, for the benefit of Secured Creditors, to secure the Obligations, a continuing lien on and security interest in such Obligor's right, title, and interest in and to the following, whether now owned or hereafter acquired or arising and wherever located (collectively, the "<u>Obligor Collateral</u>"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all Accounts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all Commercial Tort Claims;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) all Deposit Accounts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) all Equipment, Inventory, Fixtures and other Goods;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) all general intangibles (as such term is defined in the UCC), including Payment Intangibles, contract rights, rights to payment, rights arising under common law, statutes, or regulations, choses or things in action, goodwill (including the goodwill associated with any trademark), patents, trade names, trademarks, service marks, copyrights, blueprints, drawings, purchase orders, customer lists, industrial designs, other industrial or intellectual property or rights therein or applications therefor, whether under license or otherwise, programs, programming materials, blueprints, drawings, purchase orders, route lists, rights to payment and other rights under any royalty or licensing agreements, including intellectual property licenses, infringement claims, software, software source codes, computer programs, computer discs, computer tapes, literature, reports, catalogs, URLs and domain names, computer programs, information contained on computer disks or tapes, moneys due or recoverable from pension funds, pension plan refunds, pension plan refund claims, insurance premium rebates, tax refunds, tax refund claims, interests in a partnership or limited liability company which do not constitute a security under Article 8 of the UCC, all rights, powers, and remedies under the Organic Documents of the Person that issued such interests and any other personal property other than Commercial Tort Claims, money, Accounts, Chattel Paper, Deposit Accounts, goods, Investment Property, Negotiable Collateral, and oil, gas, or other minerals before extraction (collectively, "<u>General Intangibles</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) all securities (whether certificated or uncertificated), rights, powers, and remedies under the Organic Documents of the Person that issued such securities, securities accounts, commodity contracts and accounts, securities entitlements and other Investment Property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) all letters of credit, Letter-of-Credit Rights (whether or not evidenced by a writing) and other Supporting Obligations, notes, drafts, Instruments (including promissory notes), certificated and uncertificated Securities, Documents, leases and Chattel Paper (including Electronic Chattel Paper) (collectively, "<u>Negotiable Collateral</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the Books of such Obligor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) all of such Obligor's money or other assets of such Obligor that now or hereafter come into the possession, custody, or control of Administrative Agent or any Lender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) all other personal property; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) all substitutions, replacements, additions, accessions, proceeds, products to or of any of the foregoing, including proceeds of insurance covering any of the foregoing, or any portion thereof, and any and all Accounts, General Intangibles, Negotiable Collateral, Inventory, Equipment, Deposit Accounts, Commercial Tort Claims, Investment Property, money, deposits, accounts, or other tangible or intangible property resulting from the sale or other disposition of the Accounts, General Intangibles, Negotiable Collateral, Inventory, Equipment, Deposit Accounts, Commercial Tort Claims, Investment Property or any portion thereof or interest therein and the proceeds thereof.

Notwithstanding the foregoing, "Obligor Collateral" shall not include any of the following (collectively, the "<u>Excluded Assets</u>"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) Excluded Accounts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) fee or land contract interests in Real Property with a value less than the Threshold Amount and any leasehold interests;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) motor vehicles, solely to the extent a security interest thereon cannot be perfected pursuant the filing of UCC financing statements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) any assets or other property of Obligors that would otherwise be included as Collateral but for the express terms of applicable US State Cannabis Laws or other applicable law (other than to the extent that any such term would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor provision or provisions) of any relevant jurisdiction or any other applicable law or principles of equity), or the express terms of any applicable contract, instrument, document, or other agreement or any Permit, that, in each case, either (i) prohibit the grant to Administrative Agent of a security interest in and to such asset or other property or (ii) would cause such asset or other property to become void or voidable if a security interest therein was granted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) assets subject to Capitalized Lease Obligations, purchase money financing and cash to secure letters of credit reimbursement obligations, in each case, to the extent the Indebtedness secured is Permitted Indebtedness and the terms of such Permitted Indebtedness prohibit a grant of a security interest therein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) any "intent-to-use" application for registration of a Trademark filed in the United States Patent and Trademark Office pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. §1051, prior to the filing of a "Statement of Use" pursuant to Section 1(d) of the Lanham Act or an "Amendment to Allege Use" pursuant to Section 1(c) of the Lanham Act with respect thereto, solely to the extent, if any, that, and solely during the period, if any, in which the grant of a security interest therein would impair the validity or enforceability of any registration that issues from such intent-to-use application under applicable federal law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) Equity Interests in any Person not (i) wholly owned by an Obligor or (ii) not owned only by an Obligor and any Subsidiary or Affiliate thereof, in each case, to the extent a pledge thereof is not permitted by the terms of such Person's Organic Documents or applicable law, only so long as (x) such prohibition is not rendered ineffective by, or not rendered unenforceable under, any law, including applicable US Federal Cannabis Laws, applicable US State Cannabis Laws or other applicable law (including pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC) (or any successor provision or provisions) of any relevant jurisdiction or any other applicable law or principles of equity, or (y) such restriction applies to the grant of a security interest over the relevant assets or all relevant consents or approvals have not been obtained by such Obligor in respect of the grant of a security interest over such assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) those assets as to which Administrative Agent and Parent reasonably and mutually agree in writing that the cost of obtaining such a security interest or perfection thereof are excessive in relation to the benefit to Secured Creditors of the security to be afforded thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) Margin Stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) [\*\*\*]; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) any asset to the extent granting a security interest in such asset would result in a material adverse tax consequence to Obligors or their respective Subsidiaries, as reasonably determined by Parent and Administrative Agent;

<u>provided</u>, <u>however</u>, that Obligor Collateral shall include all proceeds of any assets or other property excluded from Collateral by the definition of Excluded Assets (unless such proceeds themselves constitute Excluded Assets); and <u>provided</u>, <u>further</u>, that immediately upon the repeal, waiver, voiding, invalidation, lapse, termination or other ineffectiveness of any agreement, restriction, condition or other encumbrance covering, or resulting in, any asset or other property of an Obligor constituting an Excluded Asset, the Obligor Collateral shall automatically include, and such Obligor shall be automatically deemed to have granted a security interest in, such Obligor's right, title and interest in and to such asset or other property, whether now owned or hereafter acquired or arising and wherever located, and such asset or other property shall no longer constitute an Excluded Asset.

[\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2 <u>Secured Indebtedness</u>**. The Lien and security interest granted hereunder shall secure the prompt payment of the Obligations and the prompt performance of each of the covenants and duties under this Agreement and the other Loan Documents. Each Obligor shall mark its Books as may be required by GAAP to reflect the existence of the Obligations and the Lien and security interest with respect thereto. Each Obligor shall promptly provide Administrative Agent with written notice of all Commercial Tort Claims of such Obligor in an aggregate amount reasonably estimated by such Obligor to be in excess of the Threshold Amount, such notice to contain the case title together with the applicable court and a brief description of the claim(s) acceptable to Administrative Agent. Upon delivery of each such notice, such Obligor shall be deemed to have granted to Administrative Agent, for the benefit of Secured Creditors, a security interest and Lien in and to such Commercial Tort Claims and all proceeds thereof without any further action by Obligors or Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3 <u>Perfection by Filing</u>**. Each Obligor hereby specifically authorizes Administrative Agent at any time and from time to time to file financing statements, continuation statements and amendments thereto that describe the Obligor Collateral as "all personal property of debtor," "all assets of debtor" or words to similar effect, and contain any other information required by Article 9 of the UCC for the sufficiency or filing office acceptance of any financing statement, continuation statement or amendment, including whether such Obligor is an organization, the type of organization and any organization identification number issued to such Obligor. Each Obligor agrees to furnish any of the foregoing information to Administrative Agent promptly upon request. Any such financing statements, continuation statements or amendments may, to the extent required by applicable law, be signed by Administrative Agent on behalf of any Obligor and may be filed at any time in any relevant jurisdiction. Each Obligor hereby irrevocably constitutes and appoints Administrative Agent and any officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of such Obligor and in the name of such Obligor or in its own name, from time to time in Administrative Agent's reasonable discretion, for the limited purpose of carrying out the terms of this <u>Section 3.3</u>. Each Obligor hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue hereof. All powers, authorizations and agencies contained in this <u>Section 3.3</u> are coupled with an interest and are irrevocable until all of the Obligations have been paid and satisfied in full. All Lender Expenses incurred by Administrative Agent in doing any of the foregoing shall be added to the Obligations, and shall be paid to Administrative Agent (i) if an Event of Default exists, on demand, and (ii) otherwise, within 30 days of demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4 <u>Perfection Other Than by Filing, Etc.</u>** At any time and from time to time, each Obligor shall take such steps as Administrative Agent may reasonably request for Administrative Agent to (a) use commercially reasonable efforts to obtain a Lien Waiver from any bailee having possession of any of the Obligor Collateral with an aggregate value in excess of the Threshold Amount that such bailee holds such Obligor Collateral for Administrative Agent, (b) subject to <u>Section 6.16</u>, obtain control of any Deposit Accounts or Securities Accounts (other than any Excluded Accounts) pursuant to a Controlled Account Agreement, (c) obtain control, as set forth in Article 9 of the UCC, of any Negotiable Collateral, Investment Property, Letter-of-Credit Rights or Electronic Chattel Paper pledged by such Obligor, and, where control is established by written agreement, such agreement shall be in form and substance satisfactory to Administrative Agent, in each case, to the extent the aggregate amount of the same is in excess of the Threshold Amount, (c) immediately discharge all Liens other than Permitted Liens and (d) otherwise to insure the continued perfection and priority of Administrative Agent's security interest in any of the Obligor Collateral and of the preservation of its rights therein. All Lender Expenses incurred by Administrative Agent in doing any of the foregoing, and any local taxes relating thereto, shall be added to the Obligations, and shall be paid to Administrative Agent (i) if an Event of Default exists, on demand, and (ii) otherwise, within [\*\*\*] days of demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5 <u>Preservation of Obligor Collateral</u>**. In addition to the rights and remedies set forth herein, and subject to the requirements of applicable US State Cannabis Laws, Administrative Agent: (a) may at any time take such steps as Administrative Agent deems reasonably necessary to protect Administrative Agent's interest in and to preserve the Obligor Collateral, including, so long as an Event of Default has occurred and is continuing, the hiring of such security guards or the placing of other security protection measures as Administrative Agent may deem appropriate; (b) so long as an Event of Default has occurred and is continuing, may employ and maintain at any of any Obligor's premises a custodian who shall have full authority to do all acts necessary to protect Administrative Agent's interests in the Obligor Collateral; (c) so long as an Event of Default has occurred and is continuing, may lease warehouse facilities to which Administrative Agent may move all or part of the Obligor Collateral; (d) so long as an Event of Default has occurred and is continuing, may use any Obligor's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Obligor Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Obligor Collateral is located, and may proceed over and through any of any Obligor's owned or leased property, subject to <u>Section 6.3</u> with respect to the matters described therein. If an Event of Default has occurred and is continuing, each Obligor shall cooperate fully with Administrative Agent's efforts to preserve the Obligor Collateral and will take such actions to preserve the Obligor Collateral as Administrative Agent may direct. All of Administrative Agent's Lender Expenses for preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be added to the Obligations, or, at Administrative Agent's option, shall be paid to Administrative Agent (x) if an Event of Default exists, on demand, and (y) otherwise, within 30 days of demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.6 <u>Other Actions as to Any and All Obligor Collateral</u>**. Each Obligor shall promptly (and in no event later than [\*\*\*] Business Days of acquiring or obtaining such Obligor Collateral) notify Administrative Agent in writing upon acquiring or otherwise obtaining any Obligor Collateral after the date hereof consisting of (a) Investment Property (other than Securities Accounts), Negotiable Collateral or intellectual property, in each case, with an aggregate value (unless such Investment Property is Equity Interests in a Subsidiary) in excess of the Threshold Amount or (b) Deposit Accounts and Securities Accounts (other than Excluded Accounts).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.7 <u>Equity Interests</u>**. For so long as any Obligor shall have the right to vote Equity Interests or other Investment Property constituting Collateral, such Obligor agrees that such Obligor shall not vote or take any consensual action with respect to such Collateral owned by such Obligor that would (a) materially adversely affect the rights of any Secured Creditor under the Loan Documents or the value of such Collateral or (b) directly or indirectly violate the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.8 <u>Termination of Liens on the Collateral</u>**. In the event (x) Obligors assign their rights and obligations hereunder and under the other Loan Documents to Vireo Rocky Mountain as provided in <u>Section 11.6(a)</u> or (y) Vireo Rocky Mountain and its Subsidiaries join this Agreement as Guarantors and Obligors hereunder pursuant to <u>Section 6.12</u> and Obligors comply with the other requirements of <u>Section 6.12</u> (other than the pledge of Collateral) in connection therewith, (a) all security interests and Liens that were granted by any Obligor or any Pledgor under the Loan Documents to Administrative Agent for the benefit of the Secured Creditors in, on or against property or assets of any Obligor or any Pledgor shall be automatically terminated and released and (b) solely at cost and expense of Borrowers, Administrative Agent shall (i) promptly deliver or cause to be delivered to Parent or its designee, as the case may be, the terminations and releases of the UCC financing statements filed in connection with the Loan Documents and such other terminations and releases as are reasonably requested by Parent or its counsel to evidence the terminations and releases provided for herein, and (ii) take such further actions, and execute and deliver such other documents, as Parent or its counsel may reasonably request evidencing the terminations and releases provided for herein. Parent and its designee shall be deemed authorized to file the terminations and releases delivered by Administrative Agent pursuant to the immediately preceding sentence.

**SECTION 4. CONDITIONS PRECEDENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1 <u>Closing Conditions</u>**. No Lender shall be obligated to advance any Loan hereunder on the Closing Date unless each of the following conditions has been fulfilled, to the satisfaction of Administrative Agent and Lenders, on or before the date of such advance:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Parent and each other Person that is to be a party to any Loan Document shall have executed and delivered each such Loan Document, including this Agreement and the Pledge Agreement dated as of the Closing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Parent shall cause to be delivered to Administrative Agent the following documents, each in form and substance satisfactory to Administrative Agent and, if applicable to such document, duly executed and delivered by the parties thereto:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) with respect to Parent, a certificate signed by the secretary or assistant secretary of such Person (or, in the case of a Person that is a partnership, the general partner of such Person or, in the case of a Person that is a limited liability company, the members or manager, as appropriate, of such Person), including a certificate of incumbency with respect to each Authorized Officer of such Person executing a Loan Document, together with appropriate attachments which shall include the following: (A) a copy of the certificate of formation of such Person certified to be true, complete and correct by the Secretary of State of the State of such Person's incorporation or formation; (B) a true, complete and correct copy of the other Organic Documents of such Person reflecting such amendments necessary in the opinion of Administrative Agent in connection with the Loan Documents or otherwise; (C) a true, complete and correct copy of the resolutions of such Person (or its general partner, members or manager, as applicable) authorizing the execution, delivery and performance by such Person of the Loan Documents to which such Person is a party and authorizing the borrowings hereunder; (D) certificates of good standing from such Person's jurisdiction of formation; and (E) if any, copies of all shareholders or share purchase agreements relating to the Equity Interests of such Person,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) an Information Certificate dated the Closing Date, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) such financial reports and information concerning Parent as Administrative Agent shall request;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Administrative Agent shall have received evidence that appropriate UCC financing statements (including fixture filings) or equivalent filings, as applicable, have been duly filed, or will be duly filed on the Closing Date, in such office or offices as may be necessary or, in the opinion of Administrative Agent, desirable, to perfect Administrative Agent's Liens in and to the Collateral;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Administrative Agent shall have received assurances, satisfactory to it, that (i) no litigation and no investigation or audit by any Governmental Authority is pending or threatened against Parent or any Pledgor which Administrative Agent determines may have a Material Adverse Effect or that would be a breach of any representation by Parent or a Pledgor in any Loan Document and (ii) no breach or default (or event or condition, which after notice or lapse of time, or both, would constitute a breach or default) has occurred and is continuing under any Material Contract as a result of which a Material Adverse Effect could be reasonably expected to occur;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) No Default or Event of Default shall exist (whether before or after giving effect to the funding of the Loans or other extension of credit);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) All of the representations and warranties of Parent and each Pledgor in each of the Loan Documents, or otherwise in writing to any Secured Creditor, shall be true and correct in all material respects (unless any such representation or warranty is qualified as to materiality, Material Adverse Effect or similar language, or by a qualifying exhibit or schedule or the Information Certificate, in which case such representation and warranty shall be true and correct in all respects) at such time, both before and after giving effect to the application of the proceeds of the Loans;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Each of Administrative Agent and Lenders shall have received the approval of the Transactions from its investment committee or, as applicable, other primary credit authority;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) There shall have been no change which could have a Material Adverse Effect since September 16, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) All fees and expenses payable in accordance with this Agreement on or before the Closing Date (including legal fees and expenses of Administrative Agent) shall have been paid to Administrative Agent, for the benefit of Secured Creditors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Each of Administrative Agent and Lenders shall have reviewed to its satisfaction Parent's financial results, books and records; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Administrative Agent and its counsel shall have completed their due diligence review with outcomes satisfactory to Administrative Agent.

**SECTION 5. OBLIGORS' REPRESENTATIONS AND WARRANTIES**

To induce Administrative Agent and Lenders to enter into this Agreement and to extend credit, each Obligor makes the following representations and warranties, all of which shall be deemed made as of the Closing Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1 <u>Existence and Rights; Predecessors</u>**. The exact legal name of each Obligor is as set forth on the signature pages to this Agreement. Each Obligor is a corporation or limited liability company duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization and is duly qualified or licensed to transact business in all places where the failure to be so qualified could reasonably be expected to have a Material Adverse Effect. Each Obligor has the right and power to enter into and discharge all of its obligations under the Loan Documents to which it is a party. Each Loan Document to which any Obligor is a party constitutes a legal, valid and binding obligation of such Obligor, enforceable against it in accordance with its terms, subject only to bankruptcy and similar laws affecting creditors' rights generally, and each Obligor has the power, authority, rights and franchises to own its property and to carry on its business as presently conducted. Except as described in the Information Certificate dated the Closing Date, no Obligor has been a party to any merger, consolidation or acquisition of all or substantially all of the assets or Equity Interests of any other Person, or changed its legal status or the jurisdiction in which it is organized, during the five-year period prior to the Closing Date. No Obligor is engaged in the business of extending credit for the purpose of purchasing or carrying Margin Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2 <u>Authority</u>**. The execution, delivery and performance of the Loan Documents by each Obligor have been duly authorized by all necessary actions of such Person, do not and will not violate any material provision of law, or any writ, order or decree of any court or other Governmental Authority, or any provision of the Organic Documents of such Person, and do not and will not result in a material breach of, or constitute a material default or require any consent under, or result in the creation of any Lien upon any property or assets of such Person pursuant to, any law, regulation, instrument, document or agreement to which any such Person is a party or by which any such Person or its properties may be subject or bound. Each Obligor has obtained all Material Cannabis Licenses and all other material Permits, and such Material Cannabis Licenses and other material Permits are in full force and effect. None of such Material Cannabis Licenses or other material Permits is the subject of any pending or, to the best of each Obligor's knowledge, threatened attack or revocation, by the grantor of such Material Cannabis Licenses or other material Permits. No Obligor or any Subsidiary of an Obligor is required to obtain any additional material Permit in connection with the execution, delivery and performance of this Agreement or any other Loan Document, in accordance with their respective terms, or the consummation of the transactions contemplated hereby or thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.3 <u>Litigation</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) There is no action or proceeding pending, or, to the best of each Obligor's knowledge, threatened against any Obligor or any of its properties before any Governmental Authority as of the Closing Date, in each case, in which the amount in dispute exceeds the Threshold Amount, pursuant to which a liability of an Obligor exceeding the Threshold Amount would reasonably be expected to result or that is otherwise material, and no Obligor has any knowledge or belief of any pending or, to the best of each Obligor's knowledge, threatened governmental investigations or claims, complaints, actions or prosecutions involving any Obligor or its properties, in each case, in which the amount in dispute exceeds the Threshold Amount, pursuant to which a liability of an Obligor exceeding the Threshold Amount would reasonably be expected to result or that is otherwise material. No Obligor is in default with respect to any order, writ, injunction, decree or demand of any Governmental Authority as of the Closing Date, in each case, in which the amount in dispute exceeds the Threshold Amount, pursuant to which a liability of an Obligor exceeding the Threshold Amount would reasonably be expected to result or that is otherwise material. None of the foregoing, individually or collectively, could reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No injunction, writ, temporary restraining order or any order of any nature has been issued by any Governmental Authority purporting to enjoin or restrain the execution, delivery or performance of this Agreement or any other Loan Document, or directing that the transactions provided for herein or therein not be consummated as herein or therein provided. No Obligor is the subject of a material audit by a Governmental Authority or, to the best of each Obligor's knowledge, any material investigation or review by a Governmental Authority concerning the violation or possible violation of any requirement of law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.4 <u>Solvency</u>**. Each Obligor and its Subsidiaries, taken as a whole, are, and after consummating the transactions described herein, including each advance of the Loans, will be, Solvent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.5 <u>Taxes</u>**. Each Obligor has filed all tax returns that it is required to file and has paid all Taxes shown on said returns as well as all Taxes shown on all assessments received by it to the extent that such Taxes are not being Properly Contested; neither any Obligor nor any assets of any Obligor is subject to any tax Liens; and no Obligor has received any notice of deficiency or other official notice to pay any Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.6 <u>Material Agreements</u>**. No Obligor is a party to any agreement or instrument that could reasonably be expected to result in a Material Adverse Effect. No Obligor is in material default in the performance, observance or fulfillment of any of its obligations, covenants or conditions contained in any Material Contract, including any Management Services Agreement or the MMT Acquisition Agreement. All Material Contracts to which any Obligor is a party were executed and delivered, and are being performed, in accordance with applicable law in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.7 <u>Title to Assets; Intellectual Property</u>**. Each Obligor has good, marketable and legal title to its material assets or leasehold title as to leased assets or rights as to licenses, and the same are not subject to any Liens other than Permitted Liens. The Liens of Administrative Agent on the Collateral are and shall be prior to any other Lien on the Collateral (except for Permitted Liens). Each Obligor possesses all necessary trademarks, trade names, copyrights, patents, patent rights and licenses to conduct business as now operated, without any known conflict with the rights of others. There is no infringement action, lawsuit, claim or complaint which asserts that any Obligor's operations violate or infringe the rights or the trade names, trademarks, trademark registrations, service names, service marks or copyrights of others with respect to any apparatus or method of such Obligor or any adversely held trade-marks, trade names, trademark registrations, service names, service marks or copyrights which would reasonably be expected to have a Material Adverse Effect, and no Obligor is in any way making use of any confidential information or trade secrets of any Person, except with the consent of such Person or which would not reasonably be expected to have a Material Adverse Effect. Each Obligor has taken commercially reasonable steps to protect its (a) computer programming language, software, hardware, firmware or related documentation, inventions, technical and nontechnical data related thereto, and (b) other documentation, inventions and data related to patterns, plans, methods, techniques, drawings, finances, customer lists, suppliers, products, special pricing and cost information, designs, processes, procedures, formulas, research data owned or used by such Obligor or marketing studies conducted by such Obligor. Each Obligor is the lawful owner or licensee of its commercially important and competitively sensitive intellectual property, free and clear of any material claim of any third party (other than any applicable licensor).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.8 <u>Compliance With Laws; Absence of Default</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Obligor, and its properties, business, operations and leaseholds, are in compliance in all material respects with all applicable laws, including all applicable US State Cannabis Laws, and all of the provisions of its Organic Documents, and no event has occurred or has failed to occur which has not been remedied or waived, the occurrence or non-occurrence of which constitutes (i) a Default or an Event of Default or (ii) a default under any Material Contract that would reasonably be expected to result in a liability of an Obligor exceeding the Threshold Amount or that is otherwise material. No Obligor is engaged in any Restricted Cannabis Activities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Obligor holds all Permits that are required by any Governmental Authority (excluding those United States federal authorities that may enforce or interpret any laws or regulations or the like, so as to prevent or materially restrict the business of any Obligor, or any laws or regulations that apply to cannabis) to permit it to conduct and operate any Obligor's or its respective Subsidiaries' business in the Ordinary Course of Business pursuant to any applicable requirement of law. Each of the Material Cannabis Licenses and other material Permits of Obligors and their respective Subsidiaries (i) is lawfully, truly and exclusively held or owned by Obligors or any of their respective Subsidiaries, (ii) is valid and in full force and effect in all material respects, (iii) is free and clear of all Liens other than Permitted Liens, (iv) has neither been revoked nor is in the process of being revoked by any Governmental Authority and (v) has no threatened or pending process that would result in its loss, termination, suspension, withdrawal, revocation or expiration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Obligor and each Subsidiary of an Obligor is in material compliance with all laws and regulations pertaining to any and all Material Cannabis Licenses and other material Permits. Neither any Obligor nor any Subsidiary of an Obligor is a party to, or the subject of, any investigation, notice of apparent liability, violation, forfeiture, or other order or complaint issued by or before any Governmental Authority or any other proceedings which could, in any manner, threaten or adversely affect the validity or continued effectiveness of any Material Cannabis License or other material Permit of any Obligor or any Subsidiary of an Obligor, or give rise to any order of forfeiture of any of the foregoing. There is no pending or, to the best of each Obligor's knowledge, threatened cancellation, loss, termination, modification or nonrenewal of any Material Cannabis License or other material Permit of any Obligor or any Subsidiary of an Obligor, or, to the best of each Obligor's knowledge, any valid basis for such cancellation, loss, termination, modification or nonrenewal. Obligors have no reason to believe that any Material Cannabis License or other material Permit will not be renewed in the ordinary course, or that such renewed Material Cannabis License or other material Permit would be materially different than the corresponding existing versions of such. Each Obligor and each Subsidiary of an Obligor has filed, in a timely manner, all material reports, applications, documents, instruments, and information required to be filed pursuant to applicable rules and regulations or requests of every regulatory body having jurisdiction over any of its Material Cannabis Licenses or other material Permits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Obligors and their respective Subsidiaries have each made all necessary or required disclosures of this Agreement, the other Loan Documents and the transactions contemplated hereby and thereby to any Governmental Authority that has issued any Obligor a Material Cannabis License or other material Permit as and when required pursuant to applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.9 <u>Business and Collateral Locations</u>**. Each Obligor's chief executive office, principal place of business, office where such Obligor's business records are located and all other places of business of such Obligor as of the Closing Date are as described in the Information Certificate dated the Closing Date; and except as otherwise described in such Information Certificate, none of the Collateral is in the possession of any Person other than an Obligor, an institution at which a Deposit Account, Securities Account or Commodity Account is maintained or, to the extent permitted hereunder, any other Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.10 <u>ERISA</u>**. No Obligor has any Plans as of the Closing Date. No Plan established or maintained by any Obligor has or is expected to have a accumulated funding deficiency (as such term is defined in Section 302 of ERISA), and no liability to the Pension Benefit Guaranty Corporation is expected by any Obligor to be, incurred with respect to any such Plan by such Obligor, except, in each case, as would not reasonably be expected to have a Material Adverse Effect. No Obligor is required to contribute to or is failing to contribute to a Plan or has any withdrawal liability to any Plan, except, in each case, as would not reasonably be expected to have a Material Adverse Effect. No Reportable Event has occurred that has resulted or could result in liability of any Obligor, and no Obligor has any reason to believe that any other event has occurred that has resulted or could reasonably be expected to result in liability of such Obligor, except, in each case, as would not reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.11 <u>Labor Relations</u>**. Except as disclosed in Schedule 15 of the Information Certificate dated the Closing Date, neither any Obligor nor any of its Subsidiaries is a party to or bound by any collective bargaining agreement, management agreement or consulting agreement. On the Closing Date, there are no material grievances, disputes or controversies with any union or any other organization of the employees of any Obligor or any Subsidiary of any Obligor, or, to the best of each Obligor's knowledge, any threats of strikes, work stoppages or any asserted pending demands for collective bargaining by any union or organization. Each Obligor is in material compliance with all federal and state laws respecting employment and employment terms, conditions and practices. The operations of each Obligor and each Subsidiary of each Obligor are conducted in compliance, in all material respects, with all applicable rules and regulations promulgated by the Occupational Safety and Health Administration of the United States Department of Labor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.12 <u>Anti-Corruption Laws and Sanctions</u>**. Obligors and their respective Subsidiaries have instituted and maintain policies and procedures reasonably designed to ensure compliance with applicable Sanctions. Each Obligor, its Subsidiaries and their respective officers and directors and, to the best of each Obligor's knowledge, its employees and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects. None of any Obligor, any Subsidiary thereof or any of their respective directors, officers or, to the best of each Obligor's knowledge, employees is a Sanctioned Person. No borrowing of any Loan, the use of any proceeds thereof or any other Transaction will violate Anti-Corruption Laws or applicable Sanctions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.13 <u>Investment Company Act</u>**. Neither any Obligor nor any of their respective Subsidiaries is an "investment company" as defined in, or subject to regulation under, the Investment Company Act of 1940.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.14 <u>Accuracy and Completeness of Information</u>**. All written information, reports, other papers and data relating to Obligors and their respective Subsidiaries furnished by or at the direction of any Obligor to Administrative Agent or any Lender were, at the time furnished, complete and correct in all material respects when taken as a whole and none contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading as of the time when made or delivered, when taken as a whole. All financial statements provided to Administrative Agent or any Lender fairly present the financial position and results of operations of each Obligor as at the respective dates thereof when taken as a whole and for the periods therein referred to and are consistent with the books and records of such Obligor when taken as a whole. No fact is currently known to any Obligor which has, or could reasonably be expected to have, a Material Adverse Effect. With respect to projections, estimates and forecasts given to Administrative Agent or any Lender, such projections, estimates and forecasts are based on Obligors' good faith assessment of the future of the business at the time made and when taken as a whole, and Obligors had a reasonable basis for such assessment at the time made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.15 <u>Compensation of Officers and Employees</u>**. To the extent requested, the compensation paid to each officer of each Obligor for the 12-calendar month period ending on the last day of the calendar month immediately preceding the calendar month in which the Closing Date occurs, including salaries, withdrawals, fees, bonuses, commissions, profits distributions, drawing accounts and other payments, has been disclosed to Administrative Agent prior to the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.16 <u>Environmental Matters</u>**. Neither any Obligor nor any of its Subsidiaries has generated, used, stored, treated, transported, manufactured, handled, produced or disposed of any Hazardous Materials, on or off its premises (whether or not owned by it) in any manner which at any time violates in any material respect any Environmental Law or any material Permit or similar authorization thereunder and the operations of each of Obligors and their respective Subsidiaries comply in all material respects with all Environmental Laws and all material Permits and similar authorizations thereunder. There has been no investigation, proceeding, complaint, order, directive, claim, citation or notice by any Governmental Authority or any other Person, nor is any pending or, to the best of each Obligor's knowledge, threatened with respect to any non-compliance with or violation of the requirements of any Environmental Law by any Obligor or any of its Subsidiaries or the Release, threatened or actual, of any Hazardous Materials or the generation, use, storage, treatment, transportation, manufacture, handling, production or disposal of any Hazardous Materials or any other environmental, health or safety matter, which affects any Obligor, any Subsidiary thereof or the business, operations or assets thereof or any properties at which any Obligor or any of its Subsidiaries has transported, stored or disposed of any Hazardous Materials. Neither any Obligor nor any Subsidiary thereof has any Environmental Liability that, individually or collectively, exceeds the Threshold Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.17 <u>Material Adverse Change</u>**. There has been no material adverse change in Obligors' business, key personnel or customers since September 16, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.18 <u>No Contractual Defaults</u>**. There are no defaults by any Obligor or, to the best of each Obligor's knowledge, by any other Person under any Material Contract, and no event has occurred which, but for the passage of time or the giving of notice or both, would constitute a default by any Obligor or, to the best of each Obligor's knowledge, by any other Person under any Material Contract, other than, in each case, defaults which do not have, and could not reasonably be expected to have, a Material Adverse Effect. Neither any Obligor nor, to the best of each Obligor's knowledge, any other Person, has received written notice or has any knowledge of any existing circumstances in respect of which it could receive any notice of default or breach in any material respect of any Material Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.19 <u>No Reliance</u>**. Each Obligor acknowledges, represents, and warrants that it understands the nature and structure of the transactions contemplated by this Agreement and the other Loan Documents, that it is familiar with the provisions of all of the documents and instruments relating to such transactions, that it understands the risks inherent in such transactions and that it has not relied on Administrative Agent or any Lender for any guidance or expertise in analyzing the financial or other consequences of the transactions contemplated by this Agreement or any other Loan Document or otherwise relied on Administrative Agent or any Lender in any manner in connection with interpreting, entering into, or otherwise in connection with this Agreement, any other Loan Document, or any of the matters contemplated hereby or thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.20 <u>Information Certificate</u>**. All of the representations and warranties in the Information Certificate are true and accurate on the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.21 <u>Holding Company</u>**. Parent does not (a) hold any assets other than the Schwazze Bonds, the Equity Interests of its Subsidiaries permitted hereunder and cash or property received as or in connection with Restricted Payments made in accordance with <u>Section 7.6</u>, (b) have any material liabilities other than (i) the liabilities under the Loan Documents, (ii) tax liabilities in the ordinary course of business and (iii) corporate, administrative and operating expenses in the ordinary course of business or (c) engage in any business other than (i) owning the Equity Interests of its Subsidiaries and activities incidental or related thereto and (ii) acting as a party to the Loan Documents and pledging its assets to the Administrative Agent, for the benefit of the Secured Creditors, pursuant to the Loan Documents to which it is a party.

**SECTION 6. AFFIRMATIVE COVENANTS**

Until payment in full of the Obligations, each Obligor shall, unless Administrative Agent otherwise agrees in its discretion:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1 <u>Maintenance of Rights and Properties</u>**. Maintain and preserve all material rights, franchises, Permits, privileges and other authority adequate for the conduct of its business; maintain its properties, equipment and facilities in good order and repair, working order and condition; conduct its business in an orderly manner without voluntary interruption; maintain and preserve its existence (other than as permitted by <u>Section 7.1</u> or <u>7.4(b)</u>); and qualify and remain qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification or authorization, except where the failure to be so qualified would not reasonably be expected to have a Material Adverse Effect. Except as otherwise permitted by this Agreement, each Obligor shall (a) remain the sole and lawful owner or lessee of, and in possession of, its assets, (b) use its assets only in or related to its trade or business, (c) use and maintain its assets only in compliance in all material respects with all applicable laws, including all Environmental Laws and US State Cannabis Laws, and all insurance policies, and (d) upon Administrative Agent's reasonable request, affix plates, tags or other identifying labels to the Collateral showing ownership thereof by the applicable Obligor and Administrative Agent's security interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2 <u>Insurance</u>**. In addition to the insurance required by the Loan Documents with respect to the Collateral, maintain, on behalf of itself and its Subsidiaries, (a) insurance with respect to its properties and business against such casualties and contingencies of such type (including product liability, workers' compensation, larceny, embezzlement or other criminal misappropriation insurance) and in such amounts and with such coverages, limits and deductibles as is customary in the business of such Obligor and its Subsidiaries, and (b) business interruption insurance in such amounts and with such coverages, limits and deductibles as is customary in the business of such Obligor and its Subsidiaries; <u>provided</u>, <u>however</u>, that all such insurance, including all coverages, limits and deductibles, shall be reasonably acceptable to Administrative Agent. All such insurance policies shall name Administrative Agent as additional insured or lender loss payee, as the case may be. Each Obligor shall deliver certificates of insurance evidencing that the required insurance is in force, together with satisfactory additional insured or lender loss payee, as the case may be, endorsements. Each policy of insurance or endorsement shall contain, unless Administrative Agent agrees otherwise, in its reasonable discretion, a clause requiring the insurer to give not less than 30 days prior written notice to Administrative Agent in the event of cancellation or modification of the policy for any reason whatsoever other than non-payment of premiums, in which case 10 days prior written notice is acceptable, and, if requested by Administrative Agent, a clause that the interest of Administrative Agent shall not be impaired or invalidated by any act or neglect of any Obligor or owner of the Collateral nor by the occupation of the premises for purposes more hazardous than are permitted by said policy. If any Obligor fails to provide and pay for such insurance, Administrative Agent may, at Obligors' expense, procure the same, but shall not be required to do so. Each Obligor agrees to deliver to Administrative Agent, promptly as rendered, true copies of all reports made by any Obligor in any reporting forms to insurance companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.3 <u>Visits and Inspections</u>**. Permit representatives of Administrative Agent and, if an Event of Default has occurred and is continuing, each Lender to: visit and inspect properties of each Obligor and each of its Subsidiaries; inspect, audit and make extracts from the Books of any Obligor and the books of its Subsidiaries, including all records relating to any Collateral; conduct field examinations and appraisals; and discuss with its officers, employees and independent accountants such Obligor's and its Subsidiary's businesses, assets, liabilities, financial positions, results of operations and business prospects; <u>provided</u>, <u>however</u>, that, unless an Event of Default exists, the foregoing shall be conducted during normal business hours and upon reasonable prior notice to Obligors; and <u>provided</u>, <u>further</u>, that upon the request of Administrative Agent if an Event of Default has occurred and is continuing, Obligors shall assemble, deliver or otherwise make available to Administrative Agent, at a location to be determined by Administrative Agent, all Books of any Obligor and any other Collateral requested by Administrative Agent. This Agreement shall constitute Obligors' authorization to its accountants to discuss Obligors' affairs, finances and accounts with such representatives of Administrative Agent <u>provided</u> that, unless an Event of Default exists, such Obligor is given an opportunity for a representative of such Obligor to be present. In addition to the foregoing, Administrative Agent may, at its option if an Event of Default has occurred and is continuing, from time to time obtain a quality of earnings report with respect to Obligors. Notwithstanding the foregoing or anything herein to the contrary, nothing contained in this <u>Section 6.3</u> shall require Obligors to violate any provision of applicable US State Cannabis Laws or any other applicable law or any applicable confidentiality requirement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.4 <u>Taxes, other Obligations, Etc.</u>** (a) File all tax returns and appropriate schedules thereto that are required to be filed under applicable law, prior to the date of delinquency, including any permissible extensions, and (b) pay and discharge, before the same shall become delinquent or in default, its obligations, including Taxes and nongovernmental levies or charges resulting from covenants, conditions, and restrictions affecting its assets which are assessed or imposed upon such assets or become due and payable, except, in each case, (i) to the extent that the validity or amount thereof is being Properly Contested or (ii) such failure to file, pay or discharge could not reasonably be expected to result in a Material Adverse Effect. Administrative Agent may, at its option, from time to time, discharge any Taxes or Liens on any of the Collateral that are delinquent, and Obligors will pay to Administrative Agent on demand or Administrative Agent in its discretion may charge to Borrowers all amounts so paid or incurred by Administrative Agent to the Loan Account, and such amounts paid or incurred by Administrative Agent shall constitute Obligations secured by the Collateral. If requested by Administrative Agent, the applicable Obligor shall provide proof of payment or, in the case of withholding or other employee taxes, deposit required by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.5 <u>Financial Statements and Other Information</u>**. Keep accurate and complete records and books of account with respect to its business activities in which proper entries are made in accordance with GAAP; and prepare or furnish, or cause to be prepared or furnished to Administrative Agent and Lenders the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) [reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) [reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) [reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) no later than [\*\*\*] Business Days after the date of receipt or transmission thereof, copies of all communications to and from applicable Governmental Authorities, including the Internal Revenue Service, the Federal Communications Commission, the Pension Benefit Guaranty Corporation, the Environmental Protection Agency and the Securities Exchange Commission, regarding notice of any material enforcement proceeding, material complaint, material inspection or related matter addressed to any Borrower, any other Obligor or any Subsidiary thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) no later than [\*\*\*] Business Days after obtaining knowledge thereof, (i) any notice of any proposed amendment to, or revocation or reduction of, or information concerning the status or renewal of, any Material Cannabis License (including information that such Material Cannabis License may not be renewed or that any renewed Material Cannabis License will be different than any existing Material Cannabis License, any change in applicable laws affecting the legality or validity of any existing Material Cannabis License, and evidence of the timely payment of all necessary fees and other payments to any Governmental Authority with respect thereto), (ii) copies of any written materials and all other details associated therewith, (iii) any additional diligence or actions suggested by any geotechnical or environmental firm to Obligors with respect to any Real Property subject to a Mortgage and (iv) copies of all reports, Phase IIs and other information obtained in connection with such additional diligence and actions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) [reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) within [\*\*\*] Business Days of a request therefor by Administrative Agent, to the extent available, (i) a copy of the federal and state income tax returns of each Obligor for the most recently completed tax year, together with all schedules, supporting documentation and amendments, all in the form filed with the Internal Revenue Service or such analogous state Governmental Authority and (ii) in the event an Obligor shall file an application for extension of the time to file an income tax return with respect to any such tax return, a copy of such application;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) within [\*\*\*] Business Days after the occurrence of any event hereinafter described, (i) copies of all material documents filed with any court with respect to any litigation in which the amount in dispute exceeds the Threshold Amount, pursuant to which a liability of an Obligor exceeding the Threshold Amount would reasonably be expected to result or that is otherwise material, (ii) written notice of the occurrence of any Default or any Event of Default, including a reasonably detailed description thereof and the applicable Obligor's proposed corrective action with respect thereto, (iii) written notice of receipt of any notice of any material violation of any laws or regulations received from any Governmental Authority, along with the applicable Obligor's proposed corrective action as to such violation, (iv) written notice of receipt of any notice of any material violation of any Material Contract, along with the applicable Obligor's proposed corrective action as to such violation, (v) written notice of the occurrence of any development that results in, or could reasonably be expected to result in, a Material Adverse Effect, and (vi) written notice of the filing or commencement of any action, suit or other proceeding against, or any demand for arbitration against or affecting any Obligor or any Pledgor that involves an amount in excess of the Threshold Amount or which, if adversely determined, could reasonably be expected to result in a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) within [\*\*\*] days of the occurrence of any event hereinafter described, certified copies of all amendments to the Organic Documents of any Obligor (<u>provided</u>, <u>however</u>, that Obligors must comply with <u>Section 7.1</u> with respect to any such amendment); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) from time to time and promptly (and in any event within [\*\*\*] Business Days of) upon each request from Administrative Agent or any Lender, as the case may be, (i) such data, certificates, reports, statements, documents or further information regarding the business, assets, liabilities, financial position, projections, results of operations, condition, business prospects or ownership of Obligors, or any of them, as Administrative Agent may reasonably request, and (ii) such information and documentation reasonably requested by Administrative Agent or any Lender for purposes of compliance with applicable "know your customer" and anti-money laundering rules and regulations, including the PATRIOT Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.6 <u>Compliance with Laws and Agreements; Hazardous Materials</u>**. Comply in all material respects with all applicable laws (including the PATRIOT Act, Anti-Corruption Laws, ERISA, all securities laws and all Environmental Laws and all US State Cannabis Laws) and all other laws regarding the collection, payment and deposit of Taxes, comply in all material respects with all Material Contracts to which such Obligor is a party or by which such Obligor or any of its properties is bound and obtain and keep in full force and effect any and all Material Cannabis Licenses and other material Permits and all governmental approvals necessary for the ownership of its properties or the conduct of its business. Other than those necessary to operate Obligors' business, no Obligor nor any Subsidiary thereof shall engage in the storage, manufacture, disposition, processing, handling, use or transportation of any Hazardous Materials, whether or not in compliance with applicable laws and regulations. Obligors and their respective Subsidiaries shall maintain policies and procedures reasonably designed to ensure compliance with applicable Sanctions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.7** [**<u>Reserved</u>**].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.8 <u>Lien Waivers and Collateral Assignments of Lease</u>**. Use commercially reasonable efforts to obtain from the appropriate Person or Persons, with respect to any Real Property not owned by an Obligor in fee on which Collateral with a value in excess of the Threshold Amount is or may be located from time to time, a Lien Waiver and, if the consent of the applicable landlord is not required in connection therewith, a Collateral Assignment of Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.9 <u>Controlled Accounts</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Take all steps to ensure that all of its Account Debtors and other Persons obligated to make payments to such Obligor forward all items of payment to a Deposit Account that is not an Excluded Account, and in no event shall any Obligor direct any Account Debtor to forward any item of payment to any account other than a Deposit Account that is not an Excluded Account. All Deposit Accounts (other than Excluded Accounts) shall be a Controlled Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event that any Obligor shall at any time receive any remittances of any of the foregoing directly or shall receive any other funds representing proceeds of the Collateral, hold the same as trustee for Administrative Agent and shall promptly deposit the same into a Deposit Account that is not an Excluded Account. All cash, cash equivalents, checks, notes, drafts or similar items of payment (including from the sale of any assets or constituting insurance or condemnation proceeds) received by any Obligor shall be deposited into a Deposit Account that is not an Excluded Account promptly upon (and in any event within one Business Day of) receipt thereof by such Obligor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.10 <u>Products and Services Warranty</u>**. Grow and manufacture, and provide all services, in conformity with all Material Contracts and all express or implied warranties and ensure no such products or services contain any material latent defects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.11 <u>Use of Proceeds</u>**. Use the proceeds of the Loans to (a) fund the payment of fees, costs and expenses associated with the closing of the Transactions, (b) to finance the acquisition by Parent of the Schwazze Bonds, free and clear of Liens and other encumbrances and pursuant to such terms and documentation as approved by the Administrative Agent in its discretion and (c) finance Permitted Acquisitions and for other investment purposes, including to finance the Acquisition described in clause (b) of the definition of Permitted Schwazze Transactions. No proceeds received pursuant to this Agreement will be used to purchase or carry any Margin Stock. No Obligor shall request the borrowing of the Loans, and no Obligor shall use, and shall ensure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of the Loans (x) in furtherance of a direct or, to the best of each Obligor's knowledge, indirect offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (y) for direct or, to the best of each Obligor's knowledge, indirect purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, except to the extent permitted for a Person required to comply with Sanctions, or (z) in any manner that would result in the direct or, to the best of each Obligor's knowledge, indirect violation of any Sanctions applicable to any party hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.12 <u>Further Assurances</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Take such further actions as Administrative Agent shall reasonably request from time to time in connection herewith to evidence, give effect to or carry out this Agreement and the other Loan Documents and any of the transactions contemplated hereby or thereby. Promptly after Administrative Agent's request therefor, each Obligor shall execute or cause to be executed and delivered to Administrative Agent such instruments, assignments, or other documents as are necessary or desirable under the UCC or other applicable law to protect or perfect (or continue the perfection of) Administrative Agent's Liens upon the Collateral. In furtherance of the foregoing, each Obligor agrees to take such further actions as Administrative Agent shall request to perfect and maintain a first-priority Lien (subject to any Permitted Lien applicable to Real Property) in any fee or (if a Lien can be granted thereunder) land contract interests to which any Obligor is a party to the extent such fee or land contract interest has a value in excess of the Threshold Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) (i) Cause each other Person, upon such other Person becoming a Subsidiary of such Obligor (<u>provided</u> that this <u>Section 6.12(b)</u> shall not be construed to constitute consent by Administrative Agent to any transaction not expressly permitted by the terms of this Agreement), within [\*\*\*] days (or such longer period of time to which Administrative Agent may agree in its discretion) to join this Agreement as an Obligor (as a Borrower or a Guarantor, at the option of Administrative Agent), guaranty the Obligations and grant to Administrative Agent, for the benefit of Secured Creditors, a security interest in the real, personal and mixed property of such Subsidiary to secure the Obligations to the extent such property does not constitute Excluded Assets, (ii) pledge, or cause to be pledged, to Administrative Agent all of the Equity Interests of such Subsidiary to secure the Obligations to the extent such property does not constitute Excluded Assets, (iii) execute or deliver such other agreements and documents requested by Administrative Agent, including an Information Certificate, and (iv) use commercially reasonable efforts to obtain Lien Waivers and Collateral Assignments of Lease in accordance with <u>Sections 3.4</u> and <u>6.8</u>, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) To the extent commercially reasonable, cooperate with any Lender that is a "real estate investment trust" within the meaning of 856 of the Code with respect to amending, supplementing or otherwise modifying any Loan Documents in connection with any actions or modification not adverse to Borrowers in any material respect necessary or advisable to maintain such Lender's status as such.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.13 <u>After-Acquired Real Property</u>**. Upon the acquisition by any Obligor of any fee or (if a Lien can be granted thereunder) land contract interest in any Real Property with a value in excess of the Threshold Amount as determined by Obligor in good faith as of the date of such acquisition, including pursuant to the acquisition of a Subsidiary, after the date hereof, promptly (and in any event within [\*\*\*] Business Days) notify Administrative Agent of such acquisition, and Administrative Agent shall notify such Obligor whether it intends to require a Mortgage (and any other Real Property deliverables) with respect to such new Real Property. Upon receipt of such notice requesting a Mortgage (and any other Real Property deliverables), the Person that has acquired such new Real Property shall promptly, but in any event within [\*\*\*] days (or such longer period of time to which Administrative Agent may agree in its discretion), furnish the same to Administrative Agent, along with, in each case, in form and substance satisfactory to Administrative Agent, (a) an appraisal of the applicable Mortgaged Property by an independent appraiser selected by Administrative Agent, with each such appraisal being procured at Borrowers' expense (<u>provided</u>, <u>however</u>, that Administrative Agent may elect to obtain its own appraisal at Borrowers' expense), (b) a Title Policy, or marked commitment therefor with respect to such Mortgaged Property, without a survey or other exception unless reasonably acceptable to Administrative Agent, (c) a current ALTA survey of such Mortgaged Property, reasonably satisfactory in form and substance to Administrative Agent and, if any, the title insurance company issuing each Title Policy (or unconditional binding commitments thereof) referenced in clause (b) above, which is prepared by a licensed surveyor reasonably satisfactory to Administrative Agent, (d) an environmental site assessment for such Mortgaged Property, (e) an Environmental Indemnity Agreement, (f) a zoning report, zoning conformation from the applicable Governmental Authority or similar document for such Mortgaged Property, in each case, confirming such Real Property is zoned for the business conducted by the applicable Obligor on such Real Property and (g) if such Mortgaged Property is in a flood zone, a flood notification form signed by the applicable Obligor and evidence that flood insurance is in place for the buildings and their contents located thereon. Borrowers shall pay all reasonable and documented (in summary form) out-of-pocket fees and expenses, including reasonable and documented (in summary form) out-of-pocket attorneys' fees and expenses, and all title insurance charges and premiums, incurred by Borrowers in connection with each Borrower's obligations under this <u>Section 6.13</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.14 <u>Management Services Agreements</u>**. Preserve and maintain in full force and effect each of the Management Services Agreements (<u>provided</u> that Obligors shall be required to use only commercially reasonable efforts to so preserve and maintain if such Management Services Agreement is not a Material Contract), if any, until such time as the applicable Permits may be, and are, acquired by the applicable Obligor pursuant to the terms thereof, (b) comply in all material respects with each of their respective rights, duties and obligations under each of the Management Services Agreements, if any, in each case, so that the business carried on by the parties to such Management Services Agreements may be properly conducted in accordance with applicable law in all material respects at all times, and (c) use commercially reasonable efforts to cause any Person that becomes a Managed Entity to execute and deliver to Administrative Agent a Collateral Assignment of Management Services Agreement with such Obligor, and each Collateral Assignment of Management Services Agreement, or the Management Services Agreement subject thereto, shall prohibit the Managed Entity party thereto to incur, whether directly, as a guarantor or otherwise, any Indebtedness unless such Indebtedness would constitute Permitted Indebtedness if such Managed Entity were an Obligor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.15 <u>Colorado Cannabis Business</u>**. Use commercially reasonable efforts to (a) conduct all Cannabis Business of Vireo Growth and its Subsidiaries in the State of Colorado through Parent and its Subsidiaries and (b) ensure all assets of such Cannabis Business, whether acquired, generated or otherwise, are wholly owned by Parent and its Subsidiaries.

**SECTION 7. NEGATIVE COVENANTS**

Until payment in full of the Obligations, no Obligor shall, unless Administrative Agent otherwise agrees in its discretion:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1 <u>Fundamental Changes</u>**. (a) Merge, reorganize or consolidate with any Person, or liquidate, wind up its affairs or dissolve itself, in each case whether in a single transaction or in a series of related transactions except (i) for any such merger, reorganization or consolidation of any Person into or with an Obligor in a transaction in which an Obligor is the surviving Person and (ii) pursuant to a Permitted Acquisition or Permitted Asset Disposition; (b) change its federal employer identification number; (c) change its legal name, state of incorporation or formation, organizational identification number or structure, in each case of this clause (c), without having first provided at least 30 days (or such shorter period as to which Administrative Agent may agree in its discretion) prior written notice to Administrative Agent and complying with all reasonable requirements of Administrative Agent in regard thereto; (d) other than pursuant to a Permitted Schwazze Transaction, relocate its chief executive office or principal place of business without having first provided at least 30 days (or such shorter period as to which Administrative Agent may agree in its discretion) prior written notice to Administrative Agent and complying with <u>Section 6.8</u>; (e) create any Subsidiary, or acquire any Subsidiary other than pursuant to a Permitted Investment, in each case, unless Obligors shall have complied with the requirements of <u>Sections 6.12</u> and, if applicable, <u>6.13</u>; or (f) amend, modify or otherwise change any of the terms or provisions in any of its Organic Documents in a manner materially adverse to the interests of Administrative Agent or any Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2 <u>Conduct of Business</u>**. Suspend or otherwise discontinue all or any material part of its business operations for any reason; move, transfer or otherwise locate any assets used at, acquired to be used at, arising from or relating to the facilities and operations conducted at any property encumbered by any Mortgage to any other property not owned or leased by an Obligor; conduct any material business outside of the United States; or engage in any business other than substantially the business engaged in by it or its Subsidiaries on the Closing Date or on the date such Obligor was joined to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.3 <u>Liens</u>**. Create, incur or suffer to exist any Lien on any of its assets other than Permitted Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.4 <u>Investments; Asset Dispositions</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Purchase, own, invest in or otherwise acquire, directly or indirectly, (i) any Equity Interests (including the creation or capitalization of any Subsidiary), evidence of Indebtedness or other obligation or security, (ii) substantially all or a portion of the business or assets of any other Person or any division or line of business thereof, (iii) any Cannabis License (including any option to acquire any Cannabis License) or (iv) any other investment or interest whatsoever in any other Person, or make or permit to exist, directly or indirectly, any loans, advances or extensions of credit to, or any investment in cash or by delivery of property in, any Person except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) Permitted Investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) reimbursement of expenses to officers or employees of Obligors in the Ordinary Course of Business and payments to officers or employees to be made as required by the Restructuring Support Agreement or the Consulting Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) any Obligor may make deposits into Deposit Accounts and Securities Accounts permitted by <u>Sections 6.9</u> and <u>7.10</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Make any Asset Disposition (real or personal, tangible or intangible) other than Permitted Asset Dispositions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.5 <u>Indebtedness</u>**. Create, incur, guarantee or suffer to exist any Indebtedness other than Permitted Indebtedness.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.6 <u>Restricted Payments</u>**. Directly or indirectly declare, make or pay any Restricted Payment; <u>provided</u>, <u>however</u>, that (a) each Obligor's Subsidiaries may make Distributions to such Obligor or a Subsidiary of an Obligor that is an Obligor, (b) each Obligor may make Permitted Tax Distributions, (c) the applicable Obligor may make the Restricted Payments of such Obligor (i) (A) as required by the Consulting Agreement, (B) as contemplated under Section 8.4 of that certain Amended and Restated Limited Liability Company Agreement of Vireo Rocky Mountain ("<u>VRM LLCA</u>"), or (C) with respect to any Person holding Class A Units or Class C Units (as such terms are defined in the VRM LLCA) in Vireo Rocky Mountain who has or may have a put right, or is or may be subject to a call right, with respect thereto under Section 8.4 of the VRM LLCA, as may be contemplated by a separate written agreement with commercially reasonable terms between Vireo Rocky Mountain, Vireo Growth and any such Person in respect of exchange or conversion of such Person's Class A Units or Class C Units in Vireo Rocky Mountain, (ii) if no Event of Default has occurred and is continuing or would immediately occur as a result thereof, as required by the Vireo Rocky Mountain Management Agreement or (iii) as otherwise contemplated by the Restructuring Support Agreement, (d) any Obligor may make the Restricted Payments of such Obligor required by the PharmaCann Transaction Documents, (e) [\*\*\*]and (f) each Obligor and any Subsidiary of an Obligor may make Distributions so long as the Transaction Conditions are satisfied with respect to each Distribution after giving pro forma effect thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.7 <u>ERISA</u>**. Other than as would not result in a Material Adverse Effect, withdraw from participation in, permit any full or partial termination of or permit the occurrence of any other event with respect to any Plan maintained for the benefit of an Obligor's employees under circumstances that could reasonably be expected to result in liability to the Pension Benefit Guaranty Corporation, or any of its successors or assigns, or to any entity which provides funds for such Plan; or withdraw from any Plan described in Section 4001(a)(3) of ERISA which covers an Obligor's employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.8 <u>Tax and Accounting Matters</u>**. File or consent to the filing of any material consolidated income tax return with any Person other than a Subsidiary of such Person; make any significant change in accounting treatment, accounting methods or reporting practices, except as required by GAAP; or establish a fiscal year different than the Fiscal Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.9 <u>Intellectual Property</u>**. (a) Allow any of its Intellectual Property to be abandoned, forfeited or dedicated to the public or (b) suffer any claim of infringement, in each case, other than to the extent the same would not reasonably be expected to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.10 <u>Maintenance of Accounts</u>**. Maintain any Deposit Account, Securities Account or Commodity Account, unless such Deposit Account, Securities Account or Commodity Account is subject to a Controlled Account to the extent required by <u>Section 6.9</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.11 <u>Capital Expenditures</u>**. Make or incur Capital Expenditures outside of the Ordinary Course of Business in any Fiscal Year in excess of $5,000,000 in the aggregate with all other Obligors and their respective Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.12 <u>Changes to Material Contracts; Other Documents</u>**. (a) Amend, supplement or otherwise modify, or waive any material right under, any Material Contract if the same would be materially adverse to the interests of Administrative Agent or any Lender in their capacity as such and is not in connection with a transaction expressly permitted by the terms of this Agreement, or (c) permit any Managed Entity to incur, whether directly, as a guarantor or otherwise, any Indebtedness unless such Indebtedness would constitute Permitted Indebtedness if such Managed Entity were an Obligor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.13 <u>Inconsistent Agreements</u>**. Enter into any Material Contract which violates the terms hereof or any other Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.14 <u>Negative Pledge</u>**. Enter into, directly or indirectly, any agreement with any Person that prohibits or restricts or limits the ability of any Obligor or any Subsidiary thereof to create, incur, pledge or suffer to exist any Permitted Lien upon any of its respective assets (other than a document pursuant to which a Lien permitted by clause (a), (d), (f), (m), (p), (q), (r) or (s) of the definition of Permitted Liens is granted) or (other than the Loan Documents) restricts the ability of any Subsidiary of any Obligor to pay Distributions to such Obligor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.15 <u>Holding Company</u>**. Unless Obligors assign their rights and obligations hereunder and under the other Loan Documents as permitted by the proviso of <u>Section 11.6(a)</u>, Parent shall not (a) hold any assets other than the Schwazze Bonds, the Equity Interests of its Subsidiaries permitted hereunder and cash or property received as or in connection with Restricted Payments made in accordance with <u>Section 7.6</u>, (b) have any material liabilities other than (i) the liabilities under the Loan Documents, (ii) tax liabilities in the ordinary course of business and (iii) corporate, administrative and operating expenses in the ordinary course of business or (c) engage in any business other than (i) owning the Equity Interests of its Subsidiaries and activities incidental or related thereto and (ii) acting as a party to the Loan Documents and pledging its assets to the Administrative Agent, for the benefit of the Secured Creditors, pursuant to the Loan Documents to which it is a party.

**SECTION 8. EVENTS OF DEFAULT; REMEDIES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1 <u>Events of Default</u>**. The occurrence or existence of any one or more of the following events or conditions shall constitute an Event of Default under this Agreement unless Administrative Agent otherwise agrees in its discretion:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) (i) Any Borrower shall fail to pay the principal amount of any of the Obligations or any interest thereof (whether due at stated maturity, on demand, upon acceleration or otherwise), or (ii) any Obligor or any Pledgor shall fail to pay any other Obligation, in each case of this clause (ii), within [\*\*\*] Business Days after the due date thereof; <u>provided</u>, that such cure right may not be exercised more than two times during any trailing consecutive 12-month period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any Obligor fails or neglects to perform, keep or observe any covenant contained in <u>Section 6.1</u>, <u>6.2</u>, <u>6.3</u>, <u>6.5</u>, <u>6.7</u>, <u>6.9</u>, <u>6.11</u>, <u>6.12</u>, <u>6.13</u>, <u>6.14</u>, <u>6.15</u>, <u>6.16</u>, <u>7</u> or <u>9</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any Obligor or any Pledgor fails or neglects to perform, keep or observe any other covenant contained in this Agreement or any other Loan Document if the breach of such other covenant is not cured to Administrative Agent's reasonable satisfaction within 30 days after receipt by such Person of notice from Administrative Agent of such failure or neglect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Any representation, statement, report or certificate made or delivered by any Obligor or any Pledgor to Administrative Agent or any Lender under or pursuant to this Agreement or any other Loan Document is not true and correct, in any material respect, when made or deemed made or furnished.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) An Insolvency Proceeding (i) is commenced against any Obligor or any Pledgor and is not dismissed within 60 days thereafter or (ii) is commenced by any Obligor or any Pledgor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) One or more judgments in excess of the EOD Threshold Amount in the aggregate shall be entered against any Obligor or any Pledgor and (i) enforcement proceedings shall have been commenced by any creditor upon such judgment, (ii) there shall be any period of [\*\*\*] consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, shall not be in effect or (iii) results in the creation or imposition of a Lien upon any portion of the Collateral that is not a Permitted Lien.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) There is a default, after the expiration of any applicable cure period, under any agreement, mortgage or indenture to which any Obligor or any Pledgor is a party with a Person with an outstanding balance owed in excess of the EOD Threshold Amount, if, as a result of such default the Indebtedness or other obligation evidenced or secured by any such agreement may be accelerated or demand for payment thereof may be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Any Guarantor or any Pledgor dies; revokes or attempts to revoke any Loan Document signed by such Person; repudiates or disputes such Person's liability thereunder; or is in default after the expiration of any applicable cure period under the terms thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) A Reportable Event shall occur which Administrative Agent, in its reasonable discretion, shall determine constitutes grounds for the termination by the Pension Benefit Guaranty Corporation of any Plan or the appointment by the appropriate United States district court of a trustee for any Plan or if any Borrower or any other Obligor is in "default" (as defined in Section 4219(c)(5) of ERISA) with respect to payments in excess of the EOD Threshold Amount in the aggregate to a Plan resulting from such Borrower's or such other Obligor's complete or partial withdrawal from such Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Any Obligor or any Pledgor shall challenge in any action, suit or other proceeding the validity or enforceability of any of the Loan Documents, the legality or enforceability of any of the Obligations or the perfection or priority of any Lien granted to Administrative Agent, or any of the Loan Documents ceases to be in full force or effect for any reason other than a full or partial waiver or release by Administrative Agent in accordance with the terms thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) John Mazarakis shall fail to serve as Chief Executive Officer of Vireo Growth or any Obligor, and he shall not be replaced by a Person acceptable to Administrative Agent within 90 days of the date on which such failure occurs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) A Change of Control shall occur.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) A Change in Law shall occur, or any Obligor shall engage in any Restricted Cannabis Activity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Any Material Cannabis License or any other material Permit of an Obligor shall be revoked, fail to be renewed by the applicable Governmental Authority, suspended or otherwise cease to be valid, subsisting and in good standing, or any Obligor shall fail to be eligible for any reason to obtain any Cannabis License or any other material Permit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) (i) Any Obligor or any Pledgor (A) shall have been found guilty of an act of fraud or (B) shall have become subject to any adverse, final, non-appealable judgment in any civil or criminal prosecution, enforcement, asset forfeiture or any other civil or criminal enforcement action or proceeding brought by any Governmental Authority with respect to any breach of US State Cannabis Law, or (ii) any officer, director or, if such Person is manager-managed, manager thereof (A) shall have been found guilty of an act of fraud or (B) shall have become subject to any adverse, final, non-appealable judgment in any civil or criminal prosecution, enforcement, asset forfeiture or any other civil or criminal enforcement action or proceeding brought by any state or local Governmental Authority with respect to any alleged breach of US State Cannabis Law; and, with respect to any of the foregoing circumstances described in this clause (ii)(B), such Person described in this clause (ii)(B) is not removed or terminated immediately after Parent is notified of such event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) Any Loan Document that purports to create a Lien, shall, for any reason, fail or cease to create a valid, perfected and, except to the extent permitted by the terms hereof, first priority Lien on or security interest in the Collateral covered hereby or thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) Any litigation or proceeding is commenced against any Obligor or any Pledgor for payment of money that results in a judgment for at least the EOD Threshold Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) Any of the assets of any Obligor in excess of the EOD Threshold Amount in the aggregate, or any assets pledged under a Pledge Agreement, shall be attached, seized, levied upon or subjected to a writ or distress warrant, or comes into the possession of any trustee, receiver or Person acting in a similar capacity and such attachment, seizure, levy, writ or distress warrant has not been removed, discharged or rescinded is not discharged before the earlier of 60 days after the date it first arises or five days prior to the date on which such property or asset is subject to forfeiture by such Obligor or the applicable Pledgor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) A loss of Collateral in excess of the greater of (i) the insurance coverage and (ii) the EOD Threshold Amount in the aggregate shall occur.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) Any Person party to any subordination or intercreditor agreement in favor of or with Administrative Agent (other than, in each case, Administrative Agent) shall challenge in any action, suit or other proceeding the validity or enforceability of such Loan Document, the legality or enforceability of any of any Person's obligations thereunder or the perfection or priority of any Lien granted to Administrative Agent, or such subordination or intercreditor agreement ceases to be in full force or effect for any reason other than a full or partial waiver or release by Administrative Agent and Lenders in accordance with the terms thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) Any Managed Entity shall have incurred, whether directly, as a guarantor or otherwise, any Indebtedness unless such Indebtedness would constitute Permitted Indebtedness if such Managed Entity were an Obligor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2 <u>Remedies</u>**. Upon or after the occurrence of an Event of Default, Administrative Agent may, in its discretion, and Administrative Agent shall, at the direction of Required Lenders, in each case, without notice to or demand upon any Obligor or any Pledgor, do any one or more of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Declare all Obligations due, whereupon the same shall become without further presentment, protest, notice or demand (all of which presentment, protest, notice and demand each Obligor expressly waives) immediately due and payable (<u>provided</u>, that, upon the occurrence of any Event of Default described in <u>Section 8.1(e)</u>, all Obligations shall automatically become immediately due and payable without further presentment, protest, notice or demand (all of which presentment, protest, notice and demand each Obligor expressly waives)), and Borrowers shall pay to Administrative Agent, for the benefit of Secured Creditors, the entire outstanding aggregate principal balance of, and accrued and unpaid interest on, the Loans and all other Obligations plus Lender Expenses if such principal and interest are collected by or through an attorney-at-law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Cease advancing any money or extending any credit to or for the benefit of Borrowers under this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Other than with respect to Excluded Assets, notify Account Debtors owing Accounts to any Obligor or lessees of any Obligor that their Accounts have been assigned to Administrative Agent, for the benefit of Secured Creditors, and that Administrative Agent, for the benefit of Secured Creditors, has a security interest therein, collect them directly and charge the collection costs and expenses to the applicable Loan Account, and such costs and expenses shall constitute Obligations secured by the Collateral;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Other than with respect to Excluded Assets, require each Obligor to (i) provide prompt written notice to its current banks to transfer all items, collections and remittances to a Controlled Account or as otherwise directed by Administrative Agent, (ii) provide prompt written notice to each Account Debtor that Administrative Agent has been granted a Lien upon all Accounts applicable to such Account Debtor and shall direct each Account Debtor to make payments to a Controlled Account or as otherwise directed by Administrative Agent, and each Obligor hereby authorizes Administrative Agent to send any and all similar notices and directions to such Account Debtors, and (iii) do anything further that may be lawfully required by Administrative Agent to create and perfect Administrative Agent's Lien on any Collateral and effectuate the intentions of the Loan Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Without the requirement of notice to or upon any Obligor or any other Person (which notice is hereby expressly waived to the maximum extent permitted by the UCC or any other applicable law), (i) with respect to any of Obligors' Deposit Accounts in which Administrative Agent's Liens are perfected by control under Section 9-104 of the UCC, instruct the bank maintaining such Deposit Account for the applicable Obligor to pay the balance of such Deposit Account to or for the benefit of Administrative Agent, and (ii) with respect to any of Obligors' Securities Accounts in which Administrative Agent's Liens are perfected by control under Section 9-106 of the UCC, instruct the securities intermediary maintaining such Securities Account for the applicable Obligor to (A) transfer any cash in such Securities Account to or for the benefit of Administrative Agent, or (B) liquidate any financial assets in such Securities Account that are customarily sold on a recognized market and transfer the cash proceeds thereof to or for the benefit of Administrative Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Take immediate possession of any Collateral, wherever located; require Obligors and Pledgors to assemble the Collateral, at Obligors' expense, and make it available to Administrative Agent at a place designated by Administrative Agent; and enter any premises where any of the Collateral may be located and keep and store the Collateral on said premises until sold (and if said premises are the property of any Obligor or any Pledgor, then each Obligor and each Pledgor agrees not to charge any Secured Creditor for storage or other use thereof);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) With or without having the Collateral at the time or place of sale, sell the Collateral, or any part thereof, at public or private sale, at any time or place, in one or more sales, at such price or prices, and upon such terms, either for cash, credit or future delivery, as Administrative Agent may elect. Except as to that part of the Collateral which is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, Administrative Agent shall give the applicable Obligor or Pledgor reasonable notification of such sale or sales, it being agreed that in all events written notice mailed to such Obligor or such Pledgor at least 10 days prior to such sale or sales is reasonable notification. At any public sale Administrative Agent or any Lender may bid (including credit bid) for and become the purchaser, and Administrative Agent, any Lender or any other purchaser at any such sale thereafter shall hold the Collateral sold absolutely free from any claim or right of whatsoever kind, including any equity of redemption and all such claims, rights and equities are hereby expressly waived and released by each Obligor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) (i) With notice to the applicable Obligor or Pledgor, exercise all voting rights, and all other ownership or consensual rights, in respect of the Equity Interests pledged by such Obligor or such Pledgor, but under no circumstances is Administrative Agent obligated by the terms of this Agreement or any other Loan Document to exercise such rights, and (ii) if Administrative Agent duly exercises its right to vote any of such Equity Interests in accordance with clause (i) above, each Obligor hereby appoints Administrative Agent such Obligor's true and lawful attorney-in-fact and IRREVOCABLE PROXY to vote such Equity Interests in any manner Administrative Agent deems advisable for or against all matters submitted or which may be submitted to a vote of shareholders, partners or members, as the case may be. The power-of-attorney granted hereby is coupled with an interest and shall be irrevocable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Petition for and obtain the appointment of a receiver, without notice of any kind whatsoever, to take possession of any or all of the Collateral and business of each Obligor and to exercise such rights and powers as the court appointing such receiver shall confer upon such receiver;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Set off any cash of any Obligor in the possession of Administrative Agent or any Lender, and apply the balances therein to the payment of the Obligations; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Exercise any and all rights and remedies provided for herein, under the other Loan Documents, under the Uniform Commercial Code (including the UCC) and at law or equity generally, including the right to foreclose the security interests granted herein and to realize upon any Collateral by any available judicial procedure or to take possession of and sell any or all of the Collateral with or without judicial process.

Administrative Agent shall have the right to appoint a receiver for the property of any Obligor or a chief restructuring officer for the operation of any Obligor, and Obligors hereby consent to such rights and such appointment and hereby waive any objection Obligors may have thereto or the right to have a bond or other security posted by Administrative Agent in connection therewith.

Administrative Agent is hereby granted an irrevocable, non-exclusive license or other right to use, license or sub-license (exercisable without payment of compensation to any Obligor or any Affiliate thereof) any or all of each Obligor's patents, trademarks, tradenames and copyrights and all of each Obligor's computer hardware and software, trade secrets, brochures, customer lists, promotional and advertising materials, labels and packaging materials, and any property of a similar nature, in advertising for sale, marketing, selling and collecting and in completing the manufacturing of any Collateral, and each Obligor's rights under all licenses and franchise agreements shall inure to Administrative Agent, for the benefit of Secured Creditors.

The proceeds realized from any sale or other disposition of any Collateral shall be applied, after allowing two Business Days for collection, as provided in <u>Section 2.4(d)</u>.

Notwithstanding the foregoing or anything herein or in any other Loan Document to the contrary, Administrative Agent and Lenders acknowledge that the exercise of each of their rights and remedies is subject to compliance with all applicable laws, including US State Cannabis Laws. Nothing contained in this <u>Section 8.2</u> shall be deemed permission or agreement by any Obligor to permit or allow Administrative Agent or any Lender to exercise rights or remedies other than in compliance with applicable US State Cannabis Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.3 <u>Cumulative Rights; No Waiver</u>**. All covenants, conditions, warranties, guaranties, indemnities and other undertakings of Obligors and Pledgors in any of the Loan Documents shall be deemed cumulative, and Administrative Agent and each Lender shall have all other rights and remedies not inconsistent herewith as provided under the UCC or other applicable law. No exercise by Administrative Agent or any Lender of one right or remedy shall be deemed an election, and no waiver by Administrative Agent or any Lender of any Default or Event of Default on one occasion shall be deemed to be a continuing waiver or applicable to any other occasion. No delay by Administrative Agent or any Lender shall constitute a waiver, election or acquiescence by Administrative Agent or such Lender in any failure by any Borrower, any other Obligor or any Pledgor to strictly comply with its obligations under the Loan Documents.

**SECTION 9. GUARANTY**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.1 <u>Guaranty</u>**. Each Guarantor hereby unconditionally guarantees, as a primary obligor and not merely as a surety, jointly and severally with each other Guarantor when and as due, whether at maturity, by acceleration, by notice of prepayment or otherwise, the due and punctual performance of all Obligations. Each payment made by each Guarantor pursuant to this <u>Section 9</u> shall be made in lawful money of the United States in immediately available funds, and, unless otherwise required by <u>Section 2.12(b)</u>, free and clear of, and without condition, deduction for or withholding for, any claim, counterclaim, defense, recoupment, setoff or Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2 <u>Waivers</u>**. Each Guarantor hereby absolutely, unconditionally and irrevocably waives (a) promptness, diligence, notice of acceptance, notice of presentment of payment and any other notice hereunder, (b) demand of payment, protest, notice of dishonor or nonpayment, notice of the present and future amount of the Obligations and any other notice with respect to the Obligations, (c) appointment of a receiver or keeper by Administrative Agent to take possession of Collateral and to enforce its remedies (including the identify of such receiver), (d) any requirement that Administrative Agent or any Lender protect, secure, perfect or insure any security interest or Lien or any property subject thereto or exhaust any right or take any action against any other Guarantor, or any Person or any Collateral, (e) any other action, event or precondition to the enforcement hereof or the performance by any Guarantor of the Obligations, (f) all suretyship defenses and (g) any defense arising by any lack of capacity or authority or any other defense of any Borrower or any other Guarantor or any notice, demand or defense by reason of cessation from any cause of Obligations other than payment and performance in full of the Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.3 <u>No Defense</u>**. No invalidity, irregularity, voidableness, voidness or unenforceability of this Agreement or any other Loan Document or any other agreement or instrument relating thereto, or of all or any part of the Obligations or of any collateral security therefor shall affect, impair or be a defense hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.4 <u>Guaranty of Payment</u>**. The Guaranty hereunder is one of payment and performance, not collection, and the obligations of each Guarantor hereunder are independent of the Obligations of any Borrower, any other Guarantor or any other Person, and a separate action or actions may be brought and prosecuted against any Guarantor to enforce the terms and conditions of this <u>Section 9</u>, irrespective of whether any action is brought against any Borrower or any other Guarantor or other Persons or whether any Borrower, any other Guarantor or other Persons are joined in any such action or actions. Each Guarantor waives any right to require that any resort be had by Administrative Agent or any Lender to any security held for payment of the any Obligations or to any balance of any Deposit Account or credit on the books of Administrative Agent or any Lender in favor of any Borrower, any other Guarantor or any other Person. No election to proceed in one form of action or proceedings, or against any Person, or on any Obligations, shall constitute a waiver of Administrative Agent's or any Lender's right to proceed in any other form of action or proceeding or against any other Person unless Administrative Agent or such Lender has expressed any such right in writing. Without limiting the generality of the foregoing, no action or proceeding by Administrative Agent or any Lender against any Borrower, any other Guarantor or any other Person under any document evidencing or securing Indebtedness or any other obligation of any Borrower or any other Guarantor shall diminish the liability of any Guarantor hereunder, except to the extent Administrative Agent or such Lender receives actual payment on account of the Obligations by such action or proceeding, notwithstanding the effect of any such election, action or proceeding upon the right of subrogation of such Guarantor in respect of any Borrower, any other Guarantor or any other Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.5 <u>Indemnity</u>**. As an original and independent obligation under this Agreement, each Guarantor shall, jointly and severally, with the other Guarantors, (a) indemnify Administrative Agent and each Lender and keep Administrative Agent and each Lender indemnified against all costs, losses, expenses and liabilities of whatever kind resulting from the failure by any party to make due and punctual payment of any of the Obligations or resulting from any of the Obligations being or becoming void, voidable, unenforceable or ineffective against any Borrower (including all Lender Expenses incurred by Administrative Agent and each Lender, or any of them in connection with preserving or enforcing, or attempting to preserve or enforce, its rights under this Agreement and the other Loan Documents), and (b) pay (i) if an Event of Default exists, on demand, and (ii) otherwise, within [\*\*\*] days of demand, the amount of such Lender Expenses or losses, and liabilities whether or not Administrative Agent or any Lender has attempted to enforce any rights against any Borrower or any other Person or otherwise. This <u>Section 9.5</u> shall not apply to any Taxes (other than Taxes that represent costs, losses, expenses and liabilities resulting from a non-Tax claim).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.6 <u>Liabilities Absolute</u>**. The liability of each Guarantor hereunder shall be absolute, unlimited and unconditional and shall not be subject to any reduction, limitation, impairment, discharge or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any claim, defense, setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity or unenforceability of the Obligations, any other Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor shall not be discharged or impaired, released, limited or otherwise affected by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any change in the manner, place or terms of payment or performance, or any change or extension of the time of payment or performance of, release, renewal or alteration of, or any new agreements relating to any Obligations, any security therefor, or any liability incurred directly or indirectly in respect thereof, or any rescission of, or amendment, waiver or other modification of, or any consent to departure from, this Agreement or any other Loan Document, including any increase in the Obligations resulting from the extension of additional credit to any Borrower or otherwise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any sale, exchange, release, surrender, loss, abandonment, realization upon any property by whomsoever at any time pledged or mortgaged to secure, or howsoever securing, all or any of the Obligations, or any offset there against, or failure to perfect, or continue the perfection of, any Lien in any such property, or delay in the perfection of any such Lien, or any amendment or waiver of or consent to departure from any other guaranty for all or any of the Obligations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the failure of Administrative Agent or any Lender to assert any claim or demand or to enforce any right or remedy against any Borrower or any Guarantor or any other Person under the provisions of this Agreement or any other Loan Document or any other document or instrument executed and delivered in connection herewith or therewith;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any settlement or compromise of any Obligation, any security therefor or any liability (including any of those hereunder) incurred directly or indirectly in respect thereof or hereof, and any subordination of the payment of all or any part thereof to the payment of obligation (whether due or not) of any Borrower or any Guarantor to creditors of any Borrower or any Guarantor other than any Borrower or any Guarantor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any manner of application of Collateral, or proceeds thereof, to all or any of the Obligations, or any manner of sale or other disposition of any Collateral for all or any of the Obligations or any other assets of any Borrower or any Guarantor; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any other agreements or circumstance of any nature whatsoever that may or might in any manner or to any extent vary the risk of any Guarantor, or that might otherwise at law or in equity constitute a defense available to, or a discharge of, the Guaranty hereunder or the obligations of any Guarantor, or a defense to, or discharge of, any Borrower, any Guarantor or any other Person or party hereto or the Obligations or otherwise with respect to the Loans or other financial accommodations to any Borrower pursuant to this Agreement or the other Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.7 <u>Waiver of Notice</u>**. Administrative Agent, on behalf of Secured Creditors, shall have the right to do any of the above without notice to or the consent of Guarantors and each Guarantor expressly waives any right to notice of, consent to, knowledge of and participation in any agreements relating to any of the above or any other present or future event relating to the Obligations whether under this Agreement or otherwise or any right to challenge or question any of the above and waives any defenses of such Guarantor that might arise as a result of such actions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.8 <u>Secured Creditors' Discretion</u>**. Subject to <u>Section 10.11</u>, each Secured Creditor may at any time and from time to time (whether prior to or after the revocation or termination of this Agreement) without the consent of, or notice to, any Guarantor, and without incurring responsibility to any Guarantor or impairing or releasing the Obligations, apply any sums by whomsoever paid or howsoever realized to any Obligations regardless of what Obligations remain unpaid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.9 <u>Reinstatement</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The provisions of this <u>Section 9</u> shall continue to be effective or be reinstated, as the case may be, if claim is ever made upon Administrative Agent or any Lender for repayment or recovery of any amount or amounts received by it in payment or on account of any of the Obligations and it repays all or part of said amount for any reason whatsoever, including by reason of any judgment, decree or order of any court or administrative body having jurisdiction over such Person or the respective property of each, or any settlement or compromise of any claim effected by such Person with any such claimant (including any Borrower, any other Obligor or any Pledgor); and in such event each Guarantor hereby agrees that any such judgment, decree, order, settlement or compromise or other circumstances shall be binding upon such Guarantor, notwithstanding any revocation hereof or the cancellation of any note or other instrument evidencing any Obligation, and such Guarantor shall be and remain liable to Administrative Agent or Lenders for the amount so repaid or recovered to the same extent as if such amount had never originally been received by such Person(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No Secured Creditor shall be required to marshal any assets in favor of any Guarantor, or against or in payment of any Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) No Guarantor shall be entitled to claim against any present or future security held by any Secured Creditor from any Person for the Obligations in priority to or equally with any claim of such Secured Creditor, or assert any claim for any liability of any Borrower or any other Guarantor to such Guarantor, in priority to or equally with claims of any Secured Creditor for the Obligations, and Guarantors shall not be entitled to compete with any Secured Creditor with respect to, or to advance any equal or prior claim to any security held by any Secured Creditor for the Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If any Borrower or any Guarantor makes any payment to any Secured Creditor, which payment is wholly or partly subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to any Person under any federal or provincial statute or at common law or under equitable principles, then to the extent of such payment, the Obligation intended to be paid shall be revived and continued in full force and effect as if the payment had not been made, and the resulting revived Obligation shall continue to be guaranteed, uninterrupted, by each Guarantor hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) All present and future monies payable by any Borrower to any Guarantor, whether arising out of a right of subrogation or otherwise, are assigned to Administrative Agent, for the benefit of Secured Creditors, as security for the liability of such Guarantor to Administrative Agent and Lenders hereunder and are postponed and subordinated to Secured Creditors' prior right to payment in full of Obligations. All monies received by any Guarantor from any Borrower or any other Guarantor shall be held by such Guarantor as agent and trustee for Secured Creditors. This assignment, postponement and subordination shall only terminate when the Obligations are paid in full in cash and this Agreement is irrevocably terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Each Borrower and each Guarantor acknowledges this assignment, postponement and subordination and, except as otherwise set forth herein, agrees to make no payments to any Guarantor without the prior written consent of Administrative Agent if an Event of Default has occurred and is continuing. Each Borrower and each Guarantor agree to give full effect to the provisions hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.10 <u>Action Upon Event of Default</u>**. Upon the occurrence and during the continuance of any Event of Default, Administrative Agent may, without notice to or demand upon any Borrower, any Guarantor or any other Person, declare any obligations of any Guarantor under this <u>Section 9</u> immediately due and payable, and shall be entitled to enforce the obligations of each Guarantor under this <u>Section 9</u>. Upon such declaration by Administrative Agent, Administrative Agent and Lenders are hereby authorized at any time and from time to time to set off and apply any and all deposits (general or special, time or demand, provisions or final) at any time held and other Indebtedness or other liabilities at any time owing by Administrative Agent or Lenders to or for the credit or the account of such Guarantor against any and all of the obligations of such Guarantor now or hereafter existing hereunder, whether or not Administrative Agent or Lenders shall have made any demand hereunder against any Borrower or any other Person and although such obligations may be contingent and unmatured. The rights of Administrative Agent and Lenders hereunder are in addition to other rights and remedies (including other rights of set-off) which Administrative Agent and Lenders may have. Upon such declaration by Lenders, with respect to any claims (other than those claims referred to in the immediately preceding paragraph) of each Guarantor against any Borrower or any other Guarantors (for purposes of this <u>Section 9.10</u>, the "<u>Claims</u>"), each Secured Creditor shall have the full right on the part of such Secured Creditor in its own name or in the name of such Guarantor to collect and enforce such Claims by legal action, proof of debt in bankruptcy or other liquidation proceedings, vote in any proceeding for the arrangement of debts at any time proposed, or otherwise, each Secured Creditor and each of its officers being hereby irrevocably constituted attorneys-in-fact for each Guarantor for the purpose of such enforcement and for the purpose of endorsing in the name of such Guarantor any instrument for the payment of money. Each Guarantor will receive as trustee for Secured Creditors and will pay to Secured Creditors forthwith upon receipt thereof any amounts which such Guarantor may receive from any Borrower or any other Guarantor on account of the Claims. Each Guarantor agrees that at no time hereafter will any of the Claims be represented by any notes or other negotiable instruments or writings, except and in such event they shall either be made payable to Administrative Agent, or if payable to such Guarantor, shall forthwith be endorsed by such Guarantor to Administrative Agent. Each Guarantor agrees that no payment on account of the Claims or any security interest therein shall be created, received, accepted or retained during the continuance of any Event of Default nor shall any financing statement be filed with respect thereto by such Guarantor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.11 <u>Statute of Limitations</u>**. Any acknowledgment or new promise, whether by payment of principal or interest or otherwise and whether by any Borrower or any other Obligor or others (including any Lender) with respect to any of the Obligations shall, if the statute of limitations in favor of an Obligor or a Pledgor against Administrative Agent or Lenders shall have commenced to run, toll the running of such statute of limitations and, if the period of such statute of limitations shall have expired, prevent the operation of such statute of limitations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.12 <u>Interest</u>**. All amounts due, owing and unpaid from time to time by any Guarantor under this <u>Section 9</u>, to the extent such amounts do not otherwise include interest accruing on the outstanding Obligations to the date all such amounts are actually paid by such Obligor, shall bear interest at the interest rate then chargeable with respect to the Loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.13 <u>Guarantor's Investigation</u>**. Each Guarantor acknowledges receipt of a copy of each of this Agreement and the other Loan Documents. Each Guarantor has made an independent investigation of each Borrower, each other Obligor and each Pledgor and of the financial condition of each Borrower, each other Obligor and each Pledgor. Neither Administrative Agent nor any Lender has made, and neither Administrative Agent nor any Lender does make, any representations or warranties as to the income, expense, operation, finances or any other matter or thing affecting any Borrower, any other Obligor or any Pledgor, nor has Administrative Agent or any Lender made any representations or warranties as to the amount or nature of the Obligations of any Borrower or any other Obligor to which this <u>Section 9</u> applies as specifically herein set forth, nor has Administrative Agent or any Lender or any officer, agent or employee of Administrative Agent or any Lender or any representative thereof, made any other oral representations, agreements or commitments of any kind or nature, and each Guarantor hereby expressly acknowledges that no such representations or warranties have been made and each Guarantor expressly disclaims reliance on any such representations or warranties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.14 <u>Limitation of Liability</u>**. Each Guarantor, and, by its acceptance of the Guaranty hereunder, Administrative Agent and each Lender hereby confirm that it is the intention of all such Persons that the Guaranty hereunder and the Obligations of such Guarantor hereunder not constitute a fraudulent transfer or conveyance for purposes of the Bankruptcy Code, the UFTA, the UFCA or any other federal, state or foreign bankruptcy, insolvency, receivership or similar law to the extent applicable to the Guaranty hereunder and the Obligations of each Guarantor hereunder. To effectuate the foregoing intention, Administrative Agent and each Lender, by its acceptance of the Guaranty hereunder, and each Guarantor hereby irrevocably agree that the Obligations of Guarantor under the Guaranty hereunder at any time shall be limited to the maximum amount as will result in the Obligations of Guarantor under the Guaranty hereunder not constituting a fraudulent transfer or conveyance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.15 <u>Subrogation, Contribution, Etc.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) To the extent that any Guarantor shall, under the Guaranty hereunder, make an Obligor's Payment, then, without limiting its rights of subrogation against any Borrower, such Guarantor shall be entitled to contribution and indemnification from, and be reimbursed by, the Contributing Parties in an amount, for each such Contributing Party, equal to a fraction of such Obligor's Payment, the numerator of which fraction is such Contributing Party's Allocable Amount and the denominator of which is the sum of the Allocable Amounts of all of the Contributing Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The provisions of this <u>Section 9.15</u> shall in no respect limit the obligations and liabilities of each Guarantor to Secured Creditors, and each Guarantor shall remain liable to Secured Creditors for the full amount guaranteed by such Guarantor hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding anything to the contrary in this <u>Section 9.15</u> or otherwise, each Guarantor expressly waives any and all rights of subrogation, reimbursement, indemnity, exoneration, contribution of any other claim which such Guarantor may now or hereafter have against Borrowers or the other Guarantors or any other Person directly or contingently liable for the Obligations, or against or with respect to the property or any Borrower or any other Guarantor (including any property which is Collateral for the Obligations), arising from the existence or performance of this Agreement, until termination of this Agreement and repayment in full of the Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.16 <u>Termination</u>**. The provisions of this <u>Section 9</u> shall remain in effect until the indefeasible payment in full in cash of all Obligations and irrevocable termination of this Agreement.

**SECTION 10. administrative agent**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1 <u>Appointment</u>**. Each Lender (and, if applicable, each other Secured Creditor) hereby appoints Chicago Atlantic as its Administrative Agent under and for purposes of each Loan Document and hereby authorizes Administrative Agent to act on behalf of such Lender (or, if applicable, each other Secured Creditor) under each Loan Document and, in the absence of other written instructions from Lenders pursuant to the terms of the Loan Documents received from time to time by Administrative Agent, to exercise such powers hereunder and thereunder as are specifically delegated to or required of Administrative Agent by the terms hereof and thereof, together with such powers as may be incidental thereto. Notwithstanding any provision to the contrary elsewhere in this Agreement, Administrative Agent shall not have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with any Lender or other Secured Creditor, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against Administrative Agent. Anything contained in any of the Loan Documents to the contrary notwithstanding, Administrative Agent, each other Secured Creditor and each Obligor hereby agree that (a) no Secured Creditor shall have any right individually to realize upon any of the Collateral or to enforce this Agreement or any other Loan Documents, it being understood and agreed that all powers, rights and remedies hereunder may be exercised solely by Administrative Agent, on behalf of Secured Creditors in accordance with the terms hereof, and all powers, rights and remedies under the Loan Documents may be exercised solely by Administrative Agent, and (b) in the event of a foreclosure by Administrative Agent on any of the Collateral pursuant to a public or private sale or other disposition, Administrative Agent or any Lender may be the purchaser or licensor of any or all of such Collateral at any such sale or other disposition and Administrative Agent, as agent for and representative of Secured Creditors (but not any Lender or Lenders in its or their respective individual capacities unless Required Lenders shall otherwise agree in writing) shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such public sale, to use and apply any of the Obligations (including Obligations owed to any other Secured Creditor) as a credit on account of the purchase price for any Collateral payable by Administrative Agent at such sale or other disposition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2 <u>Delegation of Duties</u>**. Administrative Agent may execute any of its duties under this Agreement and the other Loan Documents by or through agents or attorneys in fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. Administrative Agent shall not be responsible for the negligence or misconduct of any agents or attorneys in fact selected by it with reasonable care.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.3 <u>Exculpatory Provisions</u>**. Neither Administrative Agent nor any of its officers, directors, employees, agents, attorneys in fact or Affiliates shall be (a) liable for any action lawfully taken or omitted to be taken by it or such Person under or in connection with this Agreement or any other Loan Document (except to the extent that any of the foregoing are found by a final and non-appealable decision of a court of competent jurisdiction to have resulted from its or such Person's own gross negligence, bad faith or willful misconduct) or (b) responsible in any manner to any Lender or any other Secured Creditor for any recitals, statements, representations or warranties made by any Obligor or any Pledgor or any officer thereof contained in this Agreement or any other Loan Document or in any certificate, report, statement or other document referred to or provided for in, or received by Administrative Agent under or in connection with, this Agreement or any other Loan Document or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document or for any failure of any Obligor or other Person to perform its obligations hereunder or thereunder. Administrative Agent shall not be under any obligation to any Lender to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of any Obligor or any Pledgor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.4 <u>Reliance by Administrative Agent</u>**. Administrative Agent shall be entitled to rely, and shall be fully protected in relying, upon any instrument, writing, resolution, notice, consent, certificate, affidavit, letter, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including counsel to Obligors and Pledgors), independent accountants and other experts selected by Administrative Agent. Administrative Agent may deem and treat the payee of any note as the owner thereof for all purposes unless a written notice of assignment, negotiation or transfer thereof shall have been filed with Administrative Agent. Administrative Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other Loan Document unless it shall first receive such advice or concurrence of Required Lenders (or, if so specified by this Agreement, all or other requisite Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders against any and all liability and expense that may be incurred by it by reason of taking or continuing to take any such action. Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of Required Lenders (or, if so specified by this Agreement, all Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lenders and all future holders of the Loans and all other Secured Creditors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.5 <u>Notice of Default</u>**. Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder, except with respect to any Default or Event of Default in the payment of principal, interest and fees required to be paid to Administrative Agent for the account of Lenders, unless Administrative Agent has received notice from a Lender or a Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". In the event that Administrative Agent receives such a notice, Administrative Agent shall give notice thereof to Lenders. Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); <u>provided</u> that unless and until Administrative Agent shall have received such directions, Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as Administrative Agent shall deem advisable in the best interests of Secured Creditors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.6 <u>Non-Reliance on Administrative Agent and other Lenders</u>**. Each Lender (and, if applicable, each other Secured Creditor) expressly acknowledges that neither Administrative Agent, nor any of its officers, directors, employees, agents, attorneys in fact or Affiliates have made any representations or warranties to it and that no act by Administrative Agent hereafter taken, including any review of the affairs of an Obligor or a Pledgor or any Affiliate of an Obligor or a Pledgor, shall be deemed to constitute any representation or warranty by Administrative Agent to any Lender or any other Secured Creditor. Each Lender (and, if applicable, each other Secured Creditor) represents to Administrative Agent that it has, independently and without reliance upon Administrative Agent or any other Lender or any other Secured Creditor, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of Obligors, Pledgors and their Affiliates and made its own decision to make its Loans hereunder. Each Lender (and, if applicable, each other Secured Creditor) also represents that it will, independently and without reliance upon Administrative Agent or any other Lender or any other Secured Creditor, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness of Obligors, Pledgors and their Affiliates. Except for notices, reports and other documents expressly required to be furnished to Lenders by Administrative Agent hereunder, Administrative Agent shall not have any duty or responsibility to provide any Lender or any other Secured Creditor with any credit or other information concerning the business, operations, property, condition (financial or otherwise), prospects or creditworthiness of any Obligor or any Pledgor or any Affiliate of an Obligor or a Pledgor that may come into the possession of Administrative Agent or any of its officers, directors, employees, agents, attorneys in fact or Affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.7 <u>Indemnification</u>**. Lenders agree to indemnify Administrative Agent in its capacity as such (to the extent not reimbursed by Obligors and without limiting the obligation of Obligors to do so), ratably according to their respective Total Credit Exposure in effect on the date on which indemnification is sought under this <u>Section 10.7</u> (or, if indemnification is sought after the date upon which the Loan Commitments shall have terminated and the Loans shall have been paid in full, ratably in accordance with such Total Credit Exposure immediately prior to such date), from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever that may at any time (whether before or after the payment of the Loans) be imposed on, incurred by or asserted against Administrative Agent in any way relating to or arising out of, the Loan Commitments, this Agreement, any of the other Loan Documents, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or any action taken or omitted by Administrative Agent under or in connection with any of the foregoing; <u>provided</u> that no Lender shall be liable for the payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements that are found by a final and non-appealable decision of a court of competent jurisdiction to have resulted from Administrative Agent's gross negligence, bad faith or willful misconduct. The agreements in this <u>Section 10.7</u> shall survive the payment of the Loans and all other amounts payable hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.8 <u>Administrative Agent in Its Individual Capacity</u>**. Administrative Agent and its Affiliates may make loans to, accept deposits from and generally engage in any kind of business with any Obligor or any Pledgor as though Administrative Agent were not Administrative Agent. With respect to its Loans made or renewed by it, Administrative Agent shall have the same rights and powers under this Agreement and the other Loan Documents as any Lender and may exercise the same as though it were not Administrative Agent, and the terms "Lender", "Lenders", "Secured Creditor" and "Secured Creditors" shall include Administrative Agent in its individual capacity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.9 <u>Successor Administrative Agent</u>**. Administrative Agent may resign as Administrative Agent upon 20 days' notice to Lenders and Borrowers. If Administrative Agent shall resign as Administrative Agent in its applicable capacity under this Agreement and the other Loan Documents, then Required Lenders shall appoint a successor agent, whereupon such successor agent shall succeed to the rights, powers and duties of Administrative Agent in its applicable capacity, and the term "Administrative Agent" shall mean such successor agent effective upon such appointment and approval, and the former Administrative Agent's rights, powers and duties as Administrative Agent in its applicable capacity shall be terminated, without any other or further act or deed on the part of such former Administrative Agent or any of the parties to this Agreement or any holders of the Loans. If no applicable successor agent has accepted appointment as Administrative Agent in its applicable capacity by the date that is 20 days following such retiring Administrative Agent's notice of resignation, such retiring Administrative Agent's resignation shall nevertheless thereupon become effective and Lenders shall assume and perform all of the duties of Administrative Agent hereunder until such time, if any, as Required Lenders appoint a successor agent as provided for above. After any retiring Administrative Agent's resignation as Administrative Agent, the provisions of this <u>Section 10</u> shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under this Agreement and the other Loan Documents. Notwithstanding the foregoing, Chicago Atlantic may resign as Administrative Agent, and choose a successor for such capacity, without notice to, or the consent of, Lenders (including Required Lenders) if such successor is an Affiliate of Chicago Atlantic.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.10 <u>Administrative Agent Generally</u>**. Except as expressly set forth herein, Administrative Agent shall not have any duties or responsibilities hereunder in its capacity as such.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.11 <u>Restrictions on Actions by Secured Creditors; Sharing of Payments</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Lender agrees that it shall not, without the express written consent of Administrative Agent, and that it shall, to the extent it is lawfully entitled to do so, upon the written request of Administrative Agent, set off against the Obligations, any amounts owing by such Lender to any Obligor or any of their respective Subsidiaries or any deposit accounts of any Obligor or any of their respective Subsidiaries now or hereafter maintained with such Lender. Each Lender further agrees that it shall not, unless specifically requested to do so in writing by Administrative Agent, take or cause to be taken any action, including, the commencement of any legal or equitable proceedings to enforce any Loan Document against any Obligor or to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to <u>Section 11.18</u>, if, at any time or times any Lender shall receive (i) by payment, foreclosure, setoff, or otherwise, any proceeds of Collateral or any payments with respect to the Obligations, except for any such proceeds or payments received by such Lender from Administrative Agent pursuant to the terms of this Agreement, or (ii) payments from Administrative Agent in excess of such Lender's pro rata share of all such distributions by Administrative Agent, such Lender promptly shall (A) turn the same over to Administrative Agent, in kind, and with such endorsements as may be required to negotiate the same to Administrative Agent, or in immediately available funds, as applicable, for the account of all Lenders and for application to the Obligations in accordance with the applicable provisions of this Agreement, or (B) purchase, without recourse or warranty, an undivided interest and participation in the Obligations owed to the other Lenders so that such excess payment received shall be applied ratably as among Lenders in accordance with their pro rata shares; <u>provided</u> that to the extent that such excess payment received by the purchasing party is thereafter recovered from it, those purchases of participations shall be rescinded in whole or in part, as applicable, and the applicable portion of the purchase price paid therefor shall be returned to such purchasing party, but without interest except to the extent that such purchasing party is required to pay interest in connection with the recovery of the excess payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The benefit of the provisions of the Loan Documents directly relating to the Collateral or any Lien granted thereunder shall extend to and be available to any Secured Creditor that is not Administrative Agent or a Lender as long as, by accepting such benefits, such Secured Creditor agrees, as among Administrative Agent and all other Secured Creditors, that such Secured Creditor is bound by (and, if requested by Administrative Agent, shall confirm such agreement in a writing in form and substance acceptable to Administrative Agent) this <u>Section 10</u>, including <u>Sections 10.11(a)</u> and <u>10.11(b)</u>, and the decisions and actions of Administrative Agent and Required Lenders (or, where expressly required by the terms of this Agreement, a greater proportion of Lenders) to the same extent a Lender is bound; <u>provided</u> that, notwithstanding the foregoing, (i) except as set forth specifically herein, Administrative Agent and each Lender shall be entitled to act in its discretion, without regard to the interest of such Secured Creditor, regardless of whether any Obligation to such Secured Creditor thereafter remains outstanding, is deprived of the benefit of the Collateral, becomes unsecured or is otherwise affected or put in jeopardy thereby, and without any duty or liability to such Secured Creditor or any such Obligation and (ii) except as specifically set forth herein, such Secured Creditor shall not have any right to be notified of, consent to, direct, require or be heard with respect to, any action taken or omitted in respect of the Collateral or under any Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Without limitation of any other provision in this Agreement, if at any time Administrative Agent makes a payment hereunder in error to any Lender, whether or not in respect of an Obligation due and owing by any Borrower, any other Obligor or any Pledgor at such time, where such payment is a Rescindable Amount, then in any such event, such Lender receiving a Rescindable Amount severally agrees to repay to Administrative Agent forthwith on demand the Rescindable Amount received by such Lender in immediately available funds in the currency so received, with interest thereon, for each day from and including the date such Rescindable Amount is received by it to but excluding the date of payment to Administrative Agent, at the greater of the Federal Funds Rate and a rate determined by Administrative Agent in accordance with banking industry rules on interbank compensation. Each Lender irrevocably waives any and all defenses, including any "discharge for value" (under which a creditor might otherwise claim a right to retain funds mistakenly paid by a third party in respect of a debt owed by another) or similar defense to its obligation to return any Rescindable Amount. Administrative Agent shall inform each Lender promptly upon determining that any payment made to such Lender comprises, in whole or in part, a Rescindable Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.12 <u>Collateral</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Administrative Agent hereby appoints each other Secured Creditor as its agent and as sub-agent for the other Secured Creditors (and each Secured Creditor hereby accepts such appointment) for the purpose of perfecting all Liens with respect to the Collateral, including with respect to assets which, in accordance with Article 8 or Article 9, as applicable, of the Uniform Commercial Code of any applicable state can be perfected only by possession or control. Should any Secured Creditor obtain possession or control of any such Collateral, such Secured Creditor shall notify Administrative Agent thereof, and, promptly upon Administrative Agent's request therefor shall deliver possession or control of such Collateral to Administrative Agent and take such other actions as agent or sub-agent in accordance with Administrative Agent's instructions to the extent, and only to the extent, so authorized or directed by Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Secured Creditor acknowledges that the Loans, all other Obligations and all interest, fees and Lender Expenses hereunder constitute one indebtedness, secured by all of the Collateral. Each Lender hereby directs, in accordance with the terms of this Agreement and the other Loan Documents, as applicable, Administrative Agent to release any Lien held by Administrative Agent in connection with this Agreement and the other Loan Documents against all of the Collateral upon the earliest of (i) the payment in full of the Obligations and termination of this Agreement, (ii) the joinder of Vireo Rocky Mountain and its Subsidiaries as Guarantors and Obligors hereunder pursuant to <u>Section 6.12</u> and Obligors' compliance with the other requirements of <u>Section 6.12</u> (other than the pledge of Collateral) in connection therewith, and (iii) the assignment by Obligors of their respective rights and obligations hereunder and under the other Loan Documents pursuant to <u>Section 11.6(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Lender hereby directs Administrative Agent to execute and deliver or file or authorize the filing of such termination and partial release statements and do such other things as are necessary to release Liens to be released pursuant to this <u>Section 10.12</u> promptly upon the effectiveness of any such release. Upon request by Administrative Agent at any time, Lenders will confirm in writing Administrative Agent's authority to release particular types or items of Collateral pursuant to this <u>Section 10.12</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.13 <u>Enforcement by Administrative Agent</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All rights of action under this Agreement, the Notes and the other Loan Documents shall be instituted, maintained, pursued or enforced by Administrative Agent. Any suit or proceeding instituted by Administrative Agent in furtherance of such enforcement shall be brought in Administrative Agent's name without the necessity of joining any of the other Lenders. In any event, the recovery of any judgment by Administrative Agent shall be for the ratable benefit of all Secured Creditors, subject to the reimbursement of expenses and costs of Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Administrative Agent may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of Administrative Agent (including any claim for the Lender Expenses and reasonable disbursements and advances of Administrative Agent) and the other Secured Creditors hereunder allowed in any judicial proceedings relative to any Obligor or any Pledgor, or any of their respective creditors or property, and shall be entitled and empowered to collect, receive and distribute any monies, securities or other property payable or deliverable on any such claims, and any custodian in any such judicial proceedings is hereby authorized by each Lender to make such payments to Administrative Agent and, in the event that Administrative Agent shall consent to the making of such payments directly to Lenders, to pay to Administrative Agent any amount due to Administrative Agent for the Lender Expenses and reasonable disbursements and advances of Administrative Agent, and any other amounts due Administrative Agent under this Agreement or any other Loan Document. Nothing contained in this Agreement or the Loan Documents shall be deemed to authorize Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement, adjustment or composition affecting this Agreement or any other Loan Document, or the rights of any holder thereof, or to authorize Administrative Agent to vote in respect of the claim of any Lender in any such proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.14 <u>Obligors and Pledgors Not Beneficiaries</u>**. The provisions of this <u>Section 10</u> are solely for the benefit of Administrative Agent and Lenders, may not be enforced by any Obligor or any Pledgor, and may be modified or waived without the approval or consent of any Obligor or any Pledgor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.15 <u>Intercreditor and Subordination Agreements</u>**. Lenders hereby (a) authorize Administrative Agent to execute and deliver any intercreditor agreement or subordination agreement on behalf of Administrative Agent and Lenders and to perform their obligations thereunder and (b) agree to be bound by the provisions of such documents.

**SECTION 11. GENERAL PROVISIONS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.1 <u>Accounting Terms</u>**. Unless otherwise specified herein, all terms of an accounting character used in this Agreement shall be interpreted, all accounting determinations under this Agreement shall be made, and all financial statements required to be delivered under this Agreement shall be prepared, in accordance with GAAP, applied on a basis consistent with the most recent financial statements of Borrowers and their respective Subsidiaries delivered to Lenders prior to the Closing Date and using the same method for inventory valuation as used in such financial statements, except for any changes required by GAAP or as otherwise previously disclosed to Administrative Agent prior to the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.2 <u>Certain Matters of Construction</u>**. The terms "herein," "hereof" and "hereunder" and other words of similar import refer to this Agreement as a whole and not to any particular section, paragraph or subdivision. Any pronoun used shall be deemed to cover all genders. The section titles appear as a matter of convenience only and shall not affect the interpretation of this Agreement. References in this Agreement to "Preamble", "Recital", "Sections", "Schedules" or "Exhibits" shall be to the Preamble, Recitals, Sections, Schedules or Exhibits of or to this Agreement unless otherwise specifically provided. All references in this Agreement or any other Loan Document to statutes shall include all amendments of same and implementing rules and regulations and any successor or replacement statutes and regulations; to any instrument or agreement (including any of the Loan Documents) shall include any and all modifications and supplements thereto and any and all restatements, extensions or renewals thereof to the extent such modifications, supplements, restatements, extensions or renewals of any such documents are permitted by the terms hereof and thereof; to any Person means and includes the successors and permitted assigns of such Person; to "include," "includes" and "including" shall be deemed to be followed by the phrase "without limitation"; or to the time of day means the time of day on the day in question in Chicago, Illinois, unless otherwise expressly provided in such Loan Document. Unless the context of this Agreement or any other Loan Document clearly requires otherwise, references to the plural include the singular, references to the singular include the plural and the term "or" has, except where otherwise indicated, the inclusive meaning represented by the phrase "and/or." A Default or an Event of Default shall be deemed to exist at all times during the period commencing on the date that such Default or Event of Default occurs to the date on which such Default or Event of Default is waived in writing pursuant to this Agreement or, with respect to any Default, is cured within any period of cure expressly provided in this Agreement. All references in any Loan Document to the consent, discretion, or satisfaction of, acceptability to or approval by Administrative Agent or any Lender shall be deemed to mean the consent, discretion or satisfaction of, acceptability to or approval by Administrative Agent or such Lender in its sole and absolute discretion, except as otherwise expressly provided in the applicable Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.3 <u>Power of Attorney</u>**. Each Obligor hereby irrevocably makes, constitutes and appoints Administrative Agent (and any of Administrative Agent's officers, employees or agents designated by Administrative Agent), with full power of substitution, as such Person's true and lawful attorney, in such Person's name after the occurrence of an Event of Default and during the continuation thereof, subject to the last paragraph of <u>Section 8.2</u>, and other than with respect to Excluded Assets: (a) to endorse such Person's name on any checks, notes, acceptances, money orders, drafts or other forms of payment or security that may come into Administrative Agent's or any Lender's possession; (b) to sign such Person's name on drafts against Account Debtors, on schedules and assignments of Accounts, on notices to Account Debtors and on any Account invoice or bill of lading; (c) to send requests for verification of Accounts, and to contact Account Debtors in any other manner to verify the Accounts; (d) to notify the post office authorities to change the address for delivery of such Person's mail to any address designated by Administrative Agent, to receive and open all mail addressed to such Person, and to retain all mail relating to the Collateral and forward, within 10 Business Days of any Secured Creditor's receipt thereof, all other mail to such Person; and (e) to do all other things necessary or advisable to accomplish the purposes of this Agreement or the other Loan Documents. The foregoing power of attorney, being coupled with an interest, is irrevocable so long as any Obligations are outstanding. Each Obligor ratifies and approves all acts of the attorney. None of Administrative Agent, any Lender or their employees, officers or agents shall be liable for any acts or omissions or for any error in judgment or mistake of fact or law except for gross negligence or willful misconduct as determined by a final non-appealable order of a court of competent jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.4 <u>Notices and Communications</u>**. All notices, requests and other communications to or upon a party hereto shall be in writing (including electronic mail transmission or similar writing) and shall be given to such party at the physical address or electronic mailing address set forth in below or at such other physical address or electronic mailing address as such party may hereafter specify for the purpose of notice to Administrative Agent, Lenders and Obligors in accordance with the provisions of this <u>Section 11.4</u>:

---

| | |
|:---|:---|
| If to Obligors: | CO Acquisition Vehicle LLC |
|  | c/o Vireo Growth Inc. |
|  | 207 S. 9<sup>th</sup> Street |
|  | Minneapolis, MN 55402 |
|  | Attention: Legal; CFO |
|  | E-mail: [\*\*\*] |
| with a copy to (not to constitute service): | Eversheds Sutherland (US) LLP |
|  | 277 W. Monroe St., Suite 6000 |
|  | Chicago, IL 60606 |
|  | Attention: Craig Alcorn and Christina Rissler |
|  | Email: [\*\*\*] |
| If to Administrative Agent or Lender: | Chicago Atlantic Admin, LLC |
|  | 420 North Wabash Avenue, Suite 500 |
|  | Chicago, Illinois 60611 |
|  | Attention: Loan Department |
|  | E-mail: [\*\*\*] |
| with a copy to (not to constitute service): | Kilpatrick Townsend & Stockton LLP |
|  | 1100 Peachtree Street, Suite 2800 |
|  | Atlanta, Georgia 30309 |
|  | Attention: Shannon C. Baxter |
|  | E-mail: [\*\*\*] |

---

Each such notice, request or other communication shall be effective (a) if given by mail, three Business Days after such communication is deposited in the U.S. Mail with first class postage pre-paid, addressed to the noticed party at the address specified herein, (b) if by nationally recognized overnight courier, when delivered with receipt acknowledged in writing by the noticed party, (c) if given by personal delivery, when duly delivered with receipt acknowledged in writing by the noticed party or (d) if given by electronic mail, unless Administrative Agent or any Lender otherwise prescribes, upon the sender's receipt of an acknowledgment from the intended recipient (such as by the "return receipt requested" function, as available, return e-mail or other written acknowledgement); <u>provided</u>, <u>however</u>, that if such electronic mail is not sent during the normal business hours of the recipient, such electronic mail shall be deemed to have been sent at the opening of business on the next Business Day for the recipient. Any written notice, request or demand that is not sent in conformity with the provisions hereof shall nevertheless be effective on the date that such notice, request or demand is actually received by the individual to whose attention at the noticed party such notice, request or demand is required to be sent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.5 <u>Performance of Obligors' Obligations</u>**. If any Obligor or any Pledgor shall fail to discharge any covenant, duty or obligation hereunder or under any of the other Loan Documents such that an Event of Default has occurred and is continuing, Administrative Agent may, in its discretion at any time, for Borrowers' account and at Borrowers' expense, pay any amount or do any act required of any Obligor or any Pledgor hereunder or under any of the other Loan Documents. All Lender Expenses incurred by Administrative Agent in connection with the taking of any such action shall be reimbursed to Administrative Agent by Borrowers on demand with interest at the Default Rate from the date such payment is made or such costs or expenses are incurred to the date of payment thereof. Any payment made or other action taken by Administrative Agent under this <u>Section 11.5</u> shall be without prejudice to any right to assert, and without waiver of, an Event of Default hereunder and without prejudice to the right of Administrative Agent to proceed thereafter as provided herein or in any of the other Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.6 <u>Successors and Assigns</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Successors and Assigns Generally</u>. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that no Obligor may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of Administrative Agent other than in connection with a transaction expressly permitted by <u>Section 7.1(a)</u> (and any other attempted assignment or transfer by any party hereto shall be null and void); <u>provided</u>, <u>however</u>, that Obligors may assign their rights and obligations hereunder and under the other Loan Documents, in whole but not in part, to Vireo Rocky Mountain with prior written notice from such Obligors to Administrative Agent at least five Business Days prior to such assignment (or such shorter amount of notice permitted by Administrative Agent in its discretion). No Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of <u>Section 11.6(b)</u>, (ii) by way of participation in accordance with the provisions of <u>Section 11.6(d)</u>, or (iii) by way of pledge or assignment of a security interest subject to the restrictions of <u>Section 11.6(e)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Assignments by Lenders</u>. Any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its applicable Loans at the time owing to it); <u>provided</u> that any such assignment shall be subject to the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) other than in the case of an assignment (A) of the entire remaining amount of the assigning Lender's applicable Loans at the time owing to it, (B) to another Lender or (C) to an Affiliate or Approved Fund of such Lender, the principal outstanding balance of the applicable Loans of the assigning Lender subject to an assignment (determined as of the date the assignment and assumption agreement described in clause (iii) below is delivered to Administrative Agent) shall not be less than $500,000, unless each of Administrative Agent and Parent otherwise consents (each such consent not to be unreasonably withheld, conditioned or delayed);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the consent of Parent (such consent not to be unreasonably withheld, conditioned or delayed) shall be required unless (A) an Event of Default has occurred and is continuing at the time of such assignment or (B) such assignment is to a Lender or an Affiliate or Approved Fund thereof (other than Parent or one of its Subsidiaries);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the parties to each assignment shall execute and deliver to Administrative Agent an assignment and assumption agreement in form and substance satisfactory to Administrative Agent, together with a processing and recordation fee of $3,500; <u>provided</u> that Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to Administrative Agent an administrative questionnaire to the extent provided by Administrative Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) no such assignment shall be made to a Person who is not an Eligible Assignee (it being understood and agreed that Administrative Agent shall have no liability or responsibility with respect to ensuring assignments are not made to Disqualified Institutions); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) such Lender shall provide Obligors with all applicable information required to be submitted by Obligors to Licensing Divisions pursuant to US State Cannabis Laws with respect to such assignment, and, to the extent required by US State Cannabis Laws, all consents from Licensing Divisions with respect thereto shall have been obtained.

Subject to acceptance and recording thereof by Administrative Agent pursuant to <u>Section 11.6(c)</u>, from and after the effective date specified in each assignment and assumption agreement, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such assignment and assumption agreement, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such assignment and assumption agreement, be released from its obligations under this Agreement (and, in the case of an assignment and assumption agreement covering all of the assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a party hereto in such capacity) but shall continue to be entitled to the benefits of <u>Sections 2.6</u> and <u>11.7</u> with respect to facts and circumstances occurring prior to the effective date of such assignment. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this <u>Section 11.6(b)</u> but does comply with <u>Section 11.6(d)</u> shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with <u>Section 11.6(d)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Register</u>. Administrative Agent, acting solely for this purpose as a non-fiduciary agent of Parent, shall maintain at one of its offices in Chicago, Illinois a copy of each assignment and assumption agreement delivered to it and a register for the recordation of the names and addresses of the applicable Lenders, and the applicable principal amounts (and stated interest) of the applicable Loans owing to, each Lender pursuant to the terms hereof from time to time (the "<u>Register</u>"). The entries in the Register shall be conclusive absent manifest error, and Parent, Administrative Agent and the applicable Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement. The Register shall be available for inspection by Parent and Lenders, at any reasonable time and from time to time upon reasonable prior notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Participations</u>. Any Lender may at any time, without the consent of, or notice to, Parent or Administrative Agent, sell participations to any Eligible Assignee (it being understood and agreed that Administrative Agent shall have no liability or responsibility with respect to ensuring participations are not made to Disqualified Institutions) (each, a "<u>Participant</u>") in all or a portion of such Lender's rights or obligations under this Agreement (including all or a portion of its applicable Loans owing to it); <u>provided</u> that (i) such Lender's obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, and (iii) Parent, Administrative Agent and Lenders shall continue to deal solely and directly with such Lender in connection with such Lender's rights and obligations under this Agreement. For the avoidance of doubt, each Lender shall be responsible for the indemnity under <u>Section 2.12(d)</u> with respect to any payments made by such Lender to its Participant(s).

Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; <u>provided</u> that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver with respect to any amendment, modification or waiver that (x) reduces the principal of any Loan or the interest rate thereon; (y) extends any stated payment date for the payment of any principal of, or interest on, any Loan; or (z) releases all or substantially all of the Collateral or all or substantially all Obligors, in each case, to the extent it affects such Participant. Borrowers agree that each Participant shall be entitled to the benefits of <u>Sections 2.6</u> and <u>2.12</u> (subject to the requirements and limitations therein, including the requirements under <u>Section 2.12(g)</u> (it being understood that the documentation required under <u>Section 2.12(g)</u> shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to <u>Section 11.6(b)</u>; <u>provided</u> that such Participant (A) agrees to be subject to the provisions of <u>Section 2.12</u> as if it were an assignee under <u>Section 11.6</u>; and (B) shall not be entitled to receive any greater payment under <u>Section 2.12</u>, with respect to any participation, than its participating Lender would have been entitled to receive. Each Lender that sells a participation agrees, at Parent's request and Borrowers' joint and several expense, to use reasonable efforts to cooperate with Parent to effectuate the provisions of <u>Section 2.13(b)</u> with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of <u>Sections 10.11(a)</u> and <u>11.18(b)</u> as though it were a Lender; <u>provided</u> that such Participant agrees to be subject to <u>Sections 10.11</u> and <u>11.18</u> as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of Parent, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant's interest in the Loans or other obligations under the Loan Documents (the "<u>Participant Register</u>"); <u>provided</u> that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant's interest in any commitments, loans or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Certain Pledges</u>. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; <u>provided</u> that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Disqualified Institutions</u>. Administrative Agent shall not be responsible or have liability for, or have any duty to ascertain, inquire into, monitor or enforce, compliance with the provisions hereof relating to Disqualified Institutions. Without limiting the generality of the foregoing, Administrative Agent shall not (i) be obligated to ascertain, monitor or inquire as to whether any Lender is a Disqualified Institution or (ii) have any liability with respect to or arising out of any assignment or participation of Loans, or disclosure of confidential information, to any Disqualified Institution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.7 <u>General Indemnity</u>**. Each Obligor hereby agrees, jointly and severally, to indemnify and defend the Indemnitees against and to hold the Indemnitees harmless from any Indemnified Claim that may be instituted or asserted against or incurred by any of the Indemnitees. Without limiting the generality of the foregoing, this indemnity shall extend to any Indemnified Claims instituted or asserted against or incurred by any of the Indemnitees under any Environmental Laws or with respect to any Environmental Liability of any Obligor. The foregoing indemnities shall not apply to Indemnified Claims incurred by any Indemnitee as a result of its own gross negligence or willful misconduct as determined by a final non-appealable order of a court of competent jurisdiction. Notwithstanding anything to the contrary in any of the Loan Documents, the obligations of each Obligor with respect to each indemnity given by it in this Agreement or any of the other Loan Documents in favor of Administrative Agent and each Lender shall survive the payment in full of the Obligations and termination of the Loan Documents. This <u>Section 11.7</u> shall not apply to any Taxes (other than Taxes that represent Indemnified Claims resulting from a non-Tax claim).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.8 <u>Credit Inquiries</u>**. Each Obligor hereby authorizes Administrative Agent and Lenders (but they shall have no obligation) to respond to usual and customary credit inquiries from third parties concerning any Obligor or any Subsidiary thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.9 <u>Survival of Representations</u>**. All representations and warranties made in this Agreement and the other Loan Documents shall survive the making of any extension of credit hereunder and the delivery of any Note and shall continue in full force and effect until the full and final payment and performance of the Obligations and the termination of the Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.10 <u>Severability</u>**. Wherever possible, each provision of the Loan Documents shall be interpreted in such manner as to be valid under applicable law. If any provision is found to be invalid under applicable law, it shall be ineffective only to the extent of such invalidity and the remaining provisions of the Loan Documents shall remain in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.11 <u>Indulgences Not Waivers</u>**. The failure by Administrative Agent or any Lender at any time or times to require strict performance by each Obligor or each Pledgor of any provision of this Agreement or any of the other Loan Documents shall not waive, affect or otherwise diminish any right of Administrative Agent or any Lender thereafter to demand strict compliance and performance with such provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.12 <u>Modification</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement and the other Loan Documents, together with all other instruments, agreements, and certificates executed by the parties in connection therewith or with reference thereto, embody the entire understanding and agreement between the parties hereto and thereto with respect to the subject matter hereof and thereof and supersede all prior agreements, understandings and inducements, whether express or implied, oral or written.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Neither this Agreement nor any other Loan Document, nor any terms hereof or thereof, may be amended, supplemented, modified or waived except (x) in accordance with the provisions of this <u>Section 11.12</u> or (y) as otherwise provided herein or in the other Loan Documents with respect to certain agreement, waiver and consent rights that may be exercised by Administrative Agent. Required Lenders may, or, with the prior written consent of Required Lenders, Administrative Agent may, from time to time, enter into with the relevant Obligors or Pledgors written amendments, supplements or modifications hereto and to the other Loan Documents for the purpose of adding any provisions to this Agreement or the other Loan Documents or changing in any manner the rights of Lenders, Obligors or Pledgors hereunder or thereunder, waive, on such terms and conditions as Required Lenders or Administrative Agent, as the case may be, may specify in such instrument, any of the requirements of this Agreement or the other Loan Documents or any Default or Event of Default and its consequences or consent to any acts or omissions of Obligors or Pledgors hereunder or under any other Loan Document that, but for such consent, would constitute a Default or Event of Default hereunder or thereunder; <u>provided</u> that no such waiver, amendment, supplement, modification, consent or waiver shall directly or indirectly:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) (A) reduce or forgive any portion of any Loan or extend the final scheduled maturity date of any Loan or reduce the stated interest rate (<u>provided</u> that only the consent of Administrative Agent shall be necessary to waive any obligation of Borrowers to pay interest at the Default Rate or amend <u>Section 2.5(b))</u> or (B) reduce or forgive any portion, or extend the date for the payment, of any interest or fee payable hereunder (other than as a result of (1) waiving the applicability of any post-default increase in interest rates or (2) a waiver or amendment by Administrative Agent of any mandatory prepayment of Loans or payment of any Make-Whole Amount (which shall not constitute an extension or postponement of any date for payment of principal, interest or fees other than any Make-Whole Amount or any forgiveness of any principal, interest or fees other than any Make-Whole Amount)), in each case without the written consent of each Lender directly and adversely affected thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) amend or modify any provisions of <u>Section 2.4(c)</u>, <u>2.4(d)</u>, <u>2.4(e)</u>, <u>2.4(f), 2.4(g)</u> or any Note or any other provision that provides for the pro rata nature of disbursements by or payments to Lenders, in each case without the written consent of each Lender directly and adversely affected thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) amend, modify or waive any provision of this <u>Section 11.12</u> or reduce the percentages specified in the definitions of the term "Required Lenders" or consent to the assignment or transfer by any Obligor of its rights and obligations under any Loan Document to which it is a party (except as expressly permitted by this Agreement, including pursuant to <u>Section 7.1</u> or <u>7.4(b)</u>), in each case without the written consent of each Lender directly and adversely affected thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) increase the aggregate amount of any Loan Commitment of any Lender without the consent of such Lender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) amend, modify or waive any provision of <u>Section 10</u> without the written consent of the then-current Administrative Agent; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) release (A) any Borrower (except as expressly permitted by this Agreement, including pursuant to <u>Section 7.1</u> or <u>7.4(b)</u>), (B) all or substantially all Guarantors under <u>Section 9</u> (except as expressly permitted by this Agreement, including pursuant to <u>Section 7.1</u>, <u>7.4(b)</u> or <u>9</u>), or (C) any Liens in favor of Administrative Agent or Lenders on all or substantially all of the Collateral under the Loan Documents (except as expressly permitted thereby, including pursuant to <u>Section 7.1</u>, <u>7.4(b)</u> or <u>10.12</u>), in each case without the prior written consent of each Lender; and

&nbsp;&nbsp;&nbsp;&nbsp;<u>provided</u>, <u>further</u>, that notwithstanding anything to the contrary herein, (x) each Lender is entitled to vote as such Lender sees fit on any bankruptcy reorganization plan that affects the Loans, and each Lender acknowledges that the provisions of Section 1126(c) of the Bankruptcy Code supersedes the unanimous consent provisions set forth herein and (y) the Required Lenders shall determine whether or not to allow an Obligor to use cash collateral in the context of a bankruptcy or insolvency proceeding and such determination shall be binding on all Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.13 <u>Counterparts</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement may be executed in any number of counterpart signature pages, and by the different parties on different counterparts, each of which when executed shall be deemed an original but all such counterparts taken together shall constitute one and the same instrument. This Agreement will be deemed executed by the parties hereto when each has signed it and delivered its executed signature page to Administrative Agent by facsimile transmission, electronic transmission or physical delivery. This Agreement and the other Loan Documents constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or in electronic (e.g., "DocuSign," "pdf" or "tif") format shall be effective as delivery of a manually executed counterpart of this Agreement. No party hereto or to any other Loan Document shall raise the use of a facsimile machine or digital imaging and electronic mail to deliver a signature or the fact that any signature was transmitted or communicated through the use of a facsimile machine or digital imaging and electronic mail as a defense to the formation of a contract and each such party forever waives any such defense.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The words "execution," "signed," "signature," and words of like import in any Loan Document shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.14 <u>Governing Law; Consent to Forum</u>**. This Agreement and the other Loan Documents are intended to take effect as sealed instruments and shall be construed in accordance with and governed by the laws of the State of New York, without regard to the conflict of laws principles thereof, except to the extent otherwise provided in the Loan Documents. Each Obligor hereby consents to the non-exclusive jurisdiction of any United States federal court sitting in or with direct or indirect jurisdiction over the Southern District of New York or any state or superior court sitting in the State of New York, Borough of Manhattan, in any action, suit or other proceeding arising out of or relating to this Agreement or any of the other Loan Documents; and each Obligor irrevocably agrees that all claims and demands in respect of any such action, suit or proceeding may be heard and determined in any such court and irrevocably waives any objection it may now or hereafter have as to the venue of any such action, suit or proceeding brought in any such court or that such court is an inconvenient forum. Administrative Agent and each Lender reserves the right to bring proceedings against any Obligor in the courts of any other jurisdiction. Nothing in this Agreement or any other Loan Document shall be deemed or operate to affect the right of Administrative Agent or any Lender to serve legal process in any manner permitted by law or to preclude the enforcement by Administrative Agent or such Lender of any judgment or order obtained in such forum or the taking of any action under this Agreement or any other Loan Document to enforce same in any other appropriate forum or jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.15 <u>Waiver of Jury Trial and other Certain Rights</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) To the fullest extent permitted by applicable law, the parties hereto each hereby waive the right to trial by jury in any action, suit, counterclaim, crossclaim or proceeding arising out of or related to this Agreement, any of the other Loan Documents, the Obligations or the Collateral or any course of conduct, course of dealing, statements (whether verbal or written) or actions of any party with respect thereto. Each Obligor acknowledges and agrees that the foregoing waivers are a material inducement to Administrative Agent and Lenders to enter into and accept this Agreement. Each Obligor has reviewed the foregoing waivers with their respective legal counsel and have knowingly and voluntarily waived their respective jury trial rights following consultation with such legal counsel. In the event of litigation, this Agreement may be filed as a written consent to a trial by the court. This <u>Section 11.15</u> shall not restrict a party from exercising remedies under the UCC or from exercising pre-judgment remedies under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) To the fullest extent permitted by applicable law, each Obligor hereby knowingly, intentionally and intelligently waives (with the benefit of advice of legal counsel of its own choosing): (i) notice prior to taking possession or control of any of the Collateral and the requirement to deposit or post any bond or other security which might otherwise be required by any court or applicable law prior to allowing Administrative Agent or any Lender to exercise any of such Person's self-help or judicial remedies to obtain possession of any of the Collateral; (ii) any claim against Administrative Agent or any Lender on any theory of liability, for special, indirect, consequential, exemplary or punitive damages arising out of, in connection with or as a result of any of the Loan Documents, any transaction thereunder, the enforcement of any remedies by Administrative Agent or any Lender or the use of any proceeds of any loans; and (iii) notice of acceptance of this Agreement by Administrative Agent or any Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.16 <u>Additional Waivers</u>**. The rights and remedies of Administrative Agent and each Lender under this Agreement and the other Loan Documents shall be cumulative and not exclusive of any rights or remedies which it would otherwise have. Any waiver or indulgence granted by Administrative Agent or any Lender shall not constitute a modification of this Agreement or any other Loan Document, except to the extent expressly provided in such waiver or indulgence, or constitute a course of dealing by Administrative Agent or any Lender at variance with the terms of this Agreement or any other Loan Document such as to require further notice by Administrative Agent or any Lender of Administrative Agent's or such Lender's intent to require strict adherence to the terms of such Loan Document in the future. Any such actions shall not in any way affect the ability of each of Administrative Agent and Lenders, in its discretion, to exercise any rights available to it under this Agreement, under the other Loan Documents or under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.17 <u>No Third-Party Beneficiaries</u>**. Neither (a) any stockholder or owner of any other Equity Interest in any Obligor or any Pledgor, (b) any employee or creditor of any Obligor or any Pledgor (other than Administrative Agent, Lenders and their respective Affiliates), nor (c) any other Person claiming by or through any Obligor or any Pledgor shall be entitled to rely on this Agreement or any other Loan Document or have any rights, remedies or claims against Administrative Agent, any Lender or any Affiliate thereof under or in connection with this Agreement or any other Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.18 <u>Adjustments; Set-off</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If any Lender (each, a "<u>Benefited Lender</u>") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in <u>Section 8.1(e)</u>, or otherwise), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans or interest thereon, such Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loans, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the other Lenders; <u>provided</u> that if all or any portion of such excess payment or benefits is thereafter recovered from such Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The foregoing provisions of this <u>Section 11.18</u> shall not apply to payments made and applied in accordance with the terms of this Agreement and the other Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) After the occurrence and during the continuance of an Event of Default, to the extent consented to by Administrative Agent in its discretion, in addition to any rights and remedies of Lenders provided by law, each Lender shall have the right, without prior notice to any Borrower, any other Obligor or any Pledgor, any such notice being expressly waived by Obligors to the extent permitted by applicable law, upon any amount becoming due and payable by any Obligor hereunder (whether at the stated maturity, by acceleration or otherwise) to set-off and appropriate and apply against such amount any and all deposits (general or special, time or demand, provisional or final, but excluding deposit accounts that consist of cash collateral subject to Permitted Liens), and any other credits, indebtedness or claims, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by such Lender or any branch or agency thereof to or for the credit or the account of any Obligor, as the case may be. Each Lender agrees promptly to notify Administrative Agent after any such set-off and application made by such Lender; <u>provided</u> that the failure to give such notice shall not affect the validity of such set-off and application.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.19 <u>Time is of the Essence</u>**. Time is of the essence of this Agreement and the other Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.20 <u>Reviewed by Attorneys</u>**. Each Obligor represents and warrants that it (a) understands fully the terms of this Agreement and the consequences of the execution and delivery hereof, (b) has been afforded an opportunity to have this Agreement reviewed by, and to discuss the same with, such attorneys and other persons as such Obligor may wish, (c) has exercised independent judgment with respect to this Agreement and the other Loan Documents, (d) has not relied on any Secured Creditor or on any Secured Creditor's counsel for any advice with respect to this Agreement or the other Loan Documents and (e) has entered into this Agreement of its own free will and accord and without threat, duress or other coercion of any kind by any Person. Each Obligor acknowledges and agrees that this Agreement shall not be construed more favorably in favor of any Obligor, on the one hand, or any Secured Creditor, on the other hand, based upon which party drafted the same, it being acknowledged that Secured Creditors, Obligors contributed substantially to the negotiation and preparation of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.21 <u>PATRIOT Act</u>**. Each Lender hereby notifies each Obligor that it may be required to obtain, verify and record information that identifies each Obligor and each Pledgor pursuant to the requirements of the PATRIOT Act, which information includes the name and address of such Obligor or such Pledgor and other information that will allow such Lender to identify such Obligor or such Pledgor in accordance with the PATRIOT Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.22 <u>Vireo Acquisition</u>**. Notwithstanding anything to the contrary in the First Amendment or any other Loan Document, (a) any representation or warranty, statement, report, or certificate required, made, deemed made, delivered, or furnished pursuant to the Loan Documents on or after the consummation of the Vireo Acquisition by any Obligor or any of its Subsidiaries or Affiliates at any time with respect to Parent shall be deemed to exclude the period of time occurring prior to the consummation of the Vireo Acquisition, (b) no Default or Event of Default has occurred and is continuing immediately after giving effect to date of the consummation of the Vireo Acquisition, (c) no Default or Event of Default shall occur, or be deemed to occur, solely as a result of any conditions, circumstances, actions, non-actions or events, in each case, of or by Parent that occurred (or failed to occur) or existed prior to the consummation of the Vireo Acquisition, and (d) no conditions, circumstances, actions, non-actions or events, in each case, of or by Parent that occurred (or failed to occur) or existed prior to the consummation of the Vireo Acquisition will be held against any Obligor or any of its Subsidiaries in the testing of any condition, threshold, basket or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.23 <u>Cannabis Laws</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The parties acknowledge that although certain US State Cannabis Laws have legalized the cultivation, distribution, sale and possession of cannabis and related products, (a) the nature and scope of US Federal Cannabis Laws may result in circumstances where activities permitted under US State Cannabis Laws may contravene US Federal Cannabis Laws, and (b) engagement in Restricted Cannabis Activities may also contravene US Federal Cannabis Laws. It is acknowledged that, as of the Closing Date, US State Cannabis Laws as in effect in the State of Colorado and the State of New Mexico contravene US Federal Cannabis Laws. Accordingly, for the purposes of this Agreement and the other Loan Documents, each representation, covenant and other provision hereof or thereof relating to compliance with applicable law will be subject to the following qualifications: (i) no representation, warranty, covenant or other agreement is made, or deemed to be made, with respect to compliance with, or application of, any US Federal Cannabis Law to the extent such US Federal Cannabis Law relates, directly or indirectly, to the unlawful nature of Cannabis Businesses; (ii) engagement in any activity that is permitted by US State Cannabis Laws but contravenes US Federal Cannabis Laws will not, in and of itself, be deemed to be non-compliance with applicable law; and (iii) engagement in any Restricted Cannabis Activity will be deemed to be non-compliance with applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Other than in connection with a Change of Law, if necessary to comply with applicable US State Cannabis Law, the parties hereby agree to (and to cause their respective assigns, participants, and Affiliates and related parties and representatives to) (i) provide Obligors with all applicable information required to be submitted by Obligors to the applicable Licensing Divisions pursuant to US State Cannabis Laws in connection with this Agreement, the Loan Documents, and the transactions contemplated hereby, and (ii) use their respective commercially reasonable efforts to cooperate with Licensing Divisions to promptly respond to any informational requests, supplemental disclosure requirements, or other correspondence from such Licensing Division and, to the extent permitted by such Licensing Division, keep all other parties hereto fully and promptly informed as to any such requests, requirements, or correspondence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If a Change in Law occurs:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Administrative Agent, Lenders, and Parent shall seek to come to a mutual agreement with respect to addressing such Change in Law for a period of 30 days (or such longer period of time to which Administrative Agent agrees in its discretion) (the "<u>Discussion Period</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To the extent no such mutual agreement is achieved during the Discussion Period, Obligors shall have until the later of (A) the date that is 90 days after the end of the Discussion Period, or such later date as is necessary to complete the refinancing of the Loans in a reasonable amount of time, so long as (1) Obligors have executed, or are in the process of negotiating in good faith, a bona fide and enforceable term sheet with respect to the refinancing of the Loans, and (2) such later date could not reasonably be expected to result in adverse consequences determined by Administrative Agent or any Lender to be material in relation to the Governmental Authority implementing such Change in Law, and (B) such other date as allowed by such Governmental Authority for the parties to become compliant with the US State Cannabis Law or US Federal Cannabis Law so changed, to repay the Obligations in full and in cash; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Notwithstanding anything herein or in any other Loan Document to the contrary, no Change in Law or any Default or Event of Default resulting solely and directly from such Change in Law shall be deemed to be an Event of Default; <u>provided</u> that, for the avoidance of doubt, any failure to make any payment required by this <u>Section 11.23</u> and any engagement in any Restricted Cannabis Activity shall, in each case, constitute an immediate Event of Default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) No party shall have any right of rescission or amendment arising out of or relating to any non-compliance of this Agreement or any other Loan Document with US Federal Cannabis Laws that exist on the Closing Date or the First Amendment Date.

[Remainder of page intentionally left blank; signature pages, Schedule and Exhibit deleted.]

## Exhibit 10.2

**Exhibit 10.2**

**<u>CERTAIN CONFIDENTIAL INFORMATION (MARKED BY BRACKETS AS "[\*\*\*]") HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE OF INFORMATION THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL</u>**

**<u>LOAN AND SECURITY AGREEMENT</u>**

**THIS LOAN AND SECURITY AGREEMENT** is dated as of March 19, 2026 (the "<u>Closing Date</u>"), and is among **VIREO HEALTH OF ROCKY MOUNTAIN, LLC**, a Delaware limited liability company ("<u>Parent</u>", and together with each other Person who becomes a borrower under this Agreement pursuant to <u>Section 6.12(b)</u>, collectively, jointly and severally, "<u>Borrowers</u>"), each Person party hereto as a Guarantor (as defined below) from time to time, the creditors which are now or which hereafter become a party hereto (collectively, "<u>Lenders</u>" and each, a "<u>Lender</u>"), and **CHICAGO ATLANTIC FINANCIAL SERVICES, LLC** ("<u>Chicago Atlantic</u>"), as Administrative Agent.

**<u>recitals</u>**

WHEREAS, Borrowers have asked Lenders to extend a term loan facility to Borrowers; and

WHEREAS, subject to and upon the terms and conditions herein set forth, each Lender is willing to provide such financing to Borrowers;

NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

**SECTION 1. DEFINITIONS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.1 <u>Defined Terms</u>**. When used in this Agreement, including any Schedule or Exhibit, the following terms shall have the following meanings:

"<u>Acquisition</u>" means any transaction or series of related transactions for the purpose of or resulting, directly or indirectly, whether by merger or otherwise, in (a) the acquisition of all or substantially all of the assets of any Person, business or division of a Person or (b) the acquisition of in excess of 50.00% of the Equity Interests of any Person, or otherwise causing any Person to become a Subsidiary.

"<u>Adjusted EBITDA</u>" means, for any period, the sum of Obligors' and their respective Subsidiaries': (a) net income after taxes for such period (excluding extraordinary gains or losses); <u>plus</u> (b) Interest Expense for such period; <u>plus</u> (c) income tax expense for such period; <u>plus</u> (d) depreciation and amortization for such period; <u>plus</u> or <u>minus</u> (e) any other non-cash charges or gains which have been subtracted or added in calculating net income after taxes for such period, all on a consolidated basis; <u>plus</u> (f) all out-of-pocket costs, fees and expenses paid in connection with (i) the execution and delivery of the Loan Documents, the MMT Acquisition Documents, [\*\*\*], the Eaze Transaction Documents and the PharmaCann Transaction Documents and the consummation of the transactions contemplated hereby or thereby and (ii) any other Permitted Acquisition consummated after the Closing Date; <u>plus</u> (g) non-cash compensation expenses arising from the grant of stock- or other equity-based awards by Obligors; and <u>plus</u> (h) severance expenses.

"<u>Administrative Agent</u>" means Chicago Atlantic, in its capacity as administrative agent appointed under <u>Section 10.1</u>, or any successor administrative agent engaged in accordance with the terms of <u>Section 10.9</u>.

"<u>Affiliate</u>" means, with respect to any Person, any Person which, directly or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, such Person. For purposes of this definition, control of a Person means the power, direct or indirect, to (a) vote more than 50.00% of the Equity Interests or other form of ownership interest having ordinary voting power for the election of directors (or the comparable equivalent) of such Person or (b) direct or cause the direction of the management and policies of such Person, in each case whether through the ownership of any Equity Interest, by contract or otherwise. Neither Administrative Agent nor any Lender shall be an Affiliate of any Obligor for purposes of this Agreement or any other Loan Document.

"<u>Aggregate Tranche A Loan Commitment</u>" means $49,710,112.98.

"<u>Aggregate Tranche B Loan Commitment</u>" means $12,740,263.63.

"<u>Agreement</u>" means this Loan and Security Agreement, together with all Schedules and Exhibits and all Information Certificates, in each case whether now or hereafter annexed thereto.

"<u>Allocable Amount</u>" shall have the meaning set forth in <u>Section 2.11(d)</u>.

[\*\*\*]

"<u>Anti-Corruption Laws</u>" means all laws, rules, and regulations of any jurisdiction applicable to any Obligor or any of their respective Subsidiaries from time to time concerning or relating to bribery or corruption.

"<u>Applicable Fiscal Period</u>" means a period of (a) for the fiscal quarter ending June 30, 2026, one fiscal quarter ending at the end of such prescribed fiscal quarter <u>multiplied by</u> four, (b) for the fiscal quarter ending September 30, 2026, two consecutive, trailing fiscal quarters ending at the end of such prescribed fiscal quarter <u>multiplied by</u> two, (c) for the fiscal quarter ending December 31, 2026, three consecutive, trailing fiscal quarters ending at the end of such prescribed fiscal quarter <u>multiplied by</u> one and one-third, and (d) for each fiscal quarter ending thereafter, four consecutive, trailing fiscal quarters ending at the end of such prescribed fiscal quarter.

"<u>Approved Fund</u>" means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender.

"<u>Asset Disposition</u>" means any sale, assignment, lease, exchange, conveyance, transfer or other disposition by any Person (whether in one or a series of transactions) of all or any of its assets, business or other properties (including Equity Interests of Subsidiaries).

"<u>Authorized Officer</u>" means, as to any Obligor, any executive officer or Financial Officer of such Person or of the sole member of such Person, if such Person is managed by its sole member and has no such officers, and any other officer or similar official thereof with significant responsibility for the administration of the obligations of such Person or of the sole member of such Person, if such Person is managed by its sole member and has no such officers, in respect of this Agreement and the other Loan Documents.

"<u>Bankruptcy Code</u>" means the United States Bankruptcy Code (11 U.S.C. Section 101 et seq.).

"<u>Board</u>" means any Obligor's governing body, as set forth in such Person's Organic Documents.

"<u>Books</u>" means all books and records relating to any Person's existence, governance, financial condition or operations, or any of the Collateral, regardless of the medium in which any such information may be recorded.

"<u>Borrower</u>" and "<u>Borrowers</u>" shall have the meanings set forth in the Preamble.

"<u>Borrower Representative</u>" means Parent, in its capacity as agent for Borrowers appointed under <u>Section 2.14</u>.

"<u>Business Day</u>" means any day of the week, excluding Saturdays, Sundays and any day on which banks in the State of Illinois or the State of New York are authorized or required to be closed.

"<u>Cannabis Business</u>" means (a) the business of acquiring, cultivating, manufacturing, extracting, testing, producing, processing, possessing, selling (at retail or wholesale), dispensing, donating, distributing, transporting, packaging, labeling, marketing or disposing of cannabis, marijuana or related substances or products containing or relating to the same, and all ancillary activities related to the foregoing, including leasing the Real Property on which any such activity is conducted and (b) the business of managing or supporting the business described in clause (a) above, and all ancillary or complimentary activities related to the foregoing, including owning the Real Property on which any such activity is conducted.

"<u>Cannabis Licenses</u>" means each Permit required to be held by any Obligor, any Subsidiary of any Obligor or any Managed Entity, or that any Obligor, any Subsidiary of any Obligor or any Managed Entity must have rights to use, to conduct its Cannabis Business in compliance with applicable US State Cannabis Laws, including the Permits listed on Schedule 22 of each Information Certificate.

[\*\*\*]

"<u>Capital Expenditures</u>" means, for any period, the aggregate cost of all capital assets acquired by Obligors and their respective Subsidiaries during such period, as determined in accordance with GAAP.

"<u>Capitalized Lease Obligations</u>" means, as applied to any Person, all obligations under Capitalized Leases of such Person or any of its Subsidiaries, in each case taken at the amount thereof accounted for as liabilities on the balance sheet (excluding the footnotes thereto) of such Person in accordance with GAAP.

"<u>Capitalized Leases</u>" means, as applied to any Person, all leases of property that have been or should be, in accordance with GAAP, recorded as capitalized leases on the balance sheet of such Person or any of its Subsidiaries, on a consolidated basis; <u>provided</u> that for all purposes hereunder the amount of obligations under any Capitalized Lease shall be the amount thereof accounted for as a liability on the balance sheet (excluding the footnotes thereto) of such Person in accordance with GAAP.

"<u>Casualty Event</u>" means the damage, destruction or condemnation, as the case may be, of property of any Person.

"<u>Change in Law</u>" means any adverse change after the Closing Date in applicable law, including US Federal Cannabis Law or US State Cannabis Law, or the application, administration or interpretation thereof by any Governmental Authority, (a) that would make it unlawful for Administrative Agent or any Lender to (i) continue to be a party to any Loan Document, (ii) perform any of its obligations hereunder or under any other Loan Document or (iii) to fund or maintain the Loans, (b) pursuant to which any Governmental Authority has enjoined Administrative Agent or any Lender from (i) continuing to be a party to any Loan Document, (ii) performing any of its obligations hereunder or under any other Loan Document or (iii) funding or maintaining the Loans or (c) pursuant to which any Governmental Authority requires (i) confidential information from or disclosure of confidential information about any investor in Administrative Agent, any Lender or any Affiliate thereof or (ii) Administrative Agent or any Lender to obtain any Permit, in each case, to (A) continue to be a party to any Loan Document, (B) perform any of its obligations hereunder or under any other Loan Document or (C) fund or maintain the Loans.

"<u>Change of Control</u>" means any of the following (or any combination of the following) whether arising from any single transaction event or series of related transactions or events that, individually or in the aggregate, result in: (a) Vireo Growth ceasing to own and control, free and clear of any Liens (other than Permitted Liens), directly or indirectly, at least a majority of the Equity Interests of Parent or failing to have the power to (directly or indirectly) direct or cause the direction of the management and policies of Parent; (b) the sale, transfer or other disposition of all or substantially all assets of Parent and the other Obligors, taken as a whole; or (c) other than pursuant to any Permitted Asset Disposition or any other transaction permitted under <u>Section 7.4(b)</u>, any Obligor ceasing to own and control, free and clear of any Liens (other than Permitted Liens), directly or indirectly, or failing to have the power to (directly or indirectly) direct or cause the direction of the management and policies of, at least the percentage of the Equity Interests of each of its Subsidiaries held by such Obligor on the Closing Date or the date of creation or acquisition thereof, as the case may be.

"<u>Chicago Atlantic</u>" shall have the meaning set forth in the Preamble.

"<u>Closing Date</u>" shall have the meaning set forth in the Preamble.

"<u>Code</u>" means the Internal Revenue Code of 1986.

"<u>Collateral</u>" means, other than any Excluded Assets, (a) the Obligor Collateral and (b) all property described in any of the other Loan Documents as security for the payment or performance of any of the Obligations.

"<u>Collateral Assignments of Lease</u>" means, collectively, those certain Collateral Assignments of Lease executed from time to time, each between the applicable Obligor and Administrative Agent, in form and substance satisfactory to Administrative Agent.

"<u>Collateral Assignments of Management Services Agreement</u>" means, collectively, those certain Collateral Assignments of Management Services Agreement executed from time to time, each between the applicable Obligor and Administrative Agent and consented to by the applicable Managed Entity, in form and substance satisfactory to Administrative Agent.

"<u>Commitment Party</u>" means CO Acquisition Vehicle LLC, a Delaware limited liability company, as the "Commitment Party" under the Restructuring Support Agreement.

"<u>Compliance Certificate</u>" means a Compliance Certificate, in the form attached hereto as <u>Exhibit A</u>, to be submitted to Administrative Agent by each Borrower pursuant to this Agreement and executed by a Financial Officer of such Borrower, and all Schedules to be attached thereto.

"<u>Connection Income Taxes</u>" means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes.

"<u>Consulting Agreement</u>" means that certain Consulting Agreement by and among Vireo Growth, Parent and Dye CRO Consulting LLC or an Affiliate thereof.

"<u>Contingent Obligation</u>" means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of that Person with respect to: (a) any indebtedness, mandatory dividend, letter of credit or other similar obligation of another Person, including any such obligation directly or indirectly guaranteed, endorsed, co-made or discounted or sold with recourse by that Person, or in respect of which that Person is otherwise directly or indirectly liable; (b) any obligations with respect to undrawn letters of credit issued or provided for the account of that Person; and (c) all obligations arising under any interest rate, currency or commodity swap agreement, interest rate cap agreement, interest rate collar agreement, or other agreement or arrangement designed to protect such Person against fluctuation in interest rates, currency exchange rates or commodity prices; <u>provided</u>, <u>however</u>, that the term "Contingent Obligation" shall not include endorsements for collection or deposit in the Ordinary Course of Business. The amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or determined amount of the primary obligation in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably anticipated net liability in respect thereof as determined by such Person in good faith; <u>provided</u>, <u>however</u>, that such amount shall not in any event exceed the maximum amount of the obligations under the Contingent Obligation arrangement.

"<u>Contributing Parties</u>" shall have the meaning set forth in <u>Section 2.11(d)</u>.

"<u>Controlled Account</u>" means any Deposit Account, Securities Account or Commodity Account subject to a Controlled Account Agreement.

"<u>Controlled Account Agreement</u>" means a tri-party deposit account, securities account or commodity account control agreement by and among the applicable Obligor, Administrative Agent and the applicable depository bank, securities intermediary or commodity intermediary, each in form and substance reasonably satisfactory to Administrative Agent, and in any event providing to Administrative Agent "control" of a Deposit Account, Securities Account or Commodity Account, as applicable, within the meaning of Articles 8 and 9 of the UCC, as applicable.

"<u>Debtor Relief Laws</u>" means the Bankruptcy Code and all other liquidation, bankruptcy, assignment for the benefit of creditors, conservatorship, moratorium, receivership, insolvency, rearrangement, reorganization, or similar debtor relief laws of the United States of America or other applicable jurisdictions in effect from time to time.

"<u>Default</u>" means an event, act or condition the occurrence of which would, with the lapse of time or the giving of notice, or both, become an Event of Default.

"<u>Default Rate</u>" shall have the meaning set forth on <u>Schedule 2</u>.

"<u>Disbursement Letter</u>" means that certain Disbursement Letter dated the date hereof from Parent to Administrative Agent.

"<u>Disqualified Institution</u>" means [\*\*\*].

"<u>Distribution</u>" means, in respect of any Person, (a) any payment, distribution, dividend or transfer of cash or other assets by such Person constituting a dividend, return of capital, and other payment in respect of the Equity Interests of such Person (except distributions in such Equity Interests) and (b) any purchase, redemption or other acquisition or retirement for value of any Equity Interests of such Person; <u>provided</u>, that (x) no purchase, redemption or other acquisition or retirement for value of Equity Interests of Parent in exchange for Vireo Growth Equity Interests contemplated under the Restructuring Support Agreement shall be considered a Distribution, and (y) no payments to any Secured Creditor under this Agreement or any other Loan Document shall be considered a Distribution.

"<u>Dollars</u>" and the sign "<u>$</u>" each mean the lawful money of the United States.

"<u>Earnout Payments</u>" means the contingent liabilities and indebtedness incurred in connection with any Acquisition which became non-contingent and payable upon the occurrence of certain performance criteria set forth in the applicable Acquisition's purchase documents.

"<u>Eaze</u>" means Eaze, Inc., a Delaware corporation.

"<u>Eaze Acquisition</u>" means either (a) the acquisition by one or more Eaze Subsidiaries of certain assets of Eaze and its direct and indirect Subsidiaries located in the State of Colorado or (b) the acquisition of the Equity Interests by any Obligor of (i) one or more direct or indirect Subsidiaries of Eaze organized under the laws of the State of Colorado or (ii) the Eaze Subsidiaries.

"<u>Eaze Subsidiary</u>" means, collectively, one or more direct or indirect Subsidiaries of Vireo Growth formed to acquire certain assets of Eaze or Eaze's direct and indirect Subsidiaries located in the State of Colorado.

"<u>Eaze Transaction Documents</u>" means any agreements or instruments documenting or relating to the Eaze Acquisition.

"<u>Eligible Assignee</u>" means a Person who is (a) not Parent or any of Parent's Subsidiaries, (b) organized under the laws of the United States or any state or territory thereof or the District of Columbia, <u>provided</u> that such Person is not classified as an entity that is disregarded from a Person that is not organized under the laws of the United States or any state or territory thereof or the District of Columbia for U.S. federal income tax purposes, (c) not a natural person (or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural person) and (d) not a Disqualified Institution.

"<u>Environmental Indemnity Agreements</u>" means, collectively, those certain Environmental Indemnity Agreements executed from time to time, each by one or more Obligors to and for the benefit of Administrative Agent.

"<u>Environmental Laws</u>" means all federal, state, district, local and foreign laws, rules, regulations, ordinances or consent decrees relating to health, safety, hazardous substances, pollution or environmental matters, as now or at any time hereafter in effect, applicable to any Obligor's business or facilities owned or operated by any Obligor, including laws relating to emissions, discharges, Releases or threatened Releases of pollutants, contamination, chemicals, hazardous, toxic or dangerous substances, materials or wastes into the environment (including ambient air, surface water, ground water, land surface or subsurface strata) or otherwise relating to the generation, manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials.

"<u>Environmental Liability</u>" means any liability, obligation, loss, claim, action, order or cost, contingent or otherwise (including for damages, costs of environmental remediation or monitoring, fines, penalties, consultants' or attorneys' fees and indemnities), directly or indirectly resulting from or based upon (a) non-compliance with any Environmental Law or any Governmental Authority approval required thereunder, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the presence, Release or threatened Release of any Hazardous Materials or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing.

"<u>EOD Threshold Amount</u>" means $3,000,000.

"<u>Equity Interest</u>" means all shares of capital stock (whether denominated as common stock or preferred stock), equity interests, partnership, limited partnership or membership interests, joint venture interests, units, limited liability company interests, participations or other ownership or profit interests in or equivalents (regardless of how designated) of or in a Person (other than an individual), whether voting or non-voting.

"<u>ERISA</u>" means the Employee Retirement Income Security Act of 1974.

"<u>Event of Default</u>" means any event or condition described in <u>Section 8.1</u>.

"<u>Excluded Accounts</u>" means any deposit accounts, securities accounts or other similar accounts (a) into which there are deposited no funds other than those intended solely to cover payroll, employee wage and benefits and accrued and unpaid employee obligations and the applicable Obligor does not deposit or maintain funds in any such account in excess of amounts necessary to fund three months of payroll liabilities or other wage and employee benefit payments, (b) that are withholding and escrow, fiduciary or trust accounts or similar accounts (in each case, only to the extent held exclusively for the benefit of an unaffiliated third party and used exclusively for such purposes and the applicable Obligor does not deposit or maintain funds in any such account in excess of amounts required by such Obligor's agreement with such unaffiliated third party), (c) constituting zero balance accounts and (d) other than the accounts set forth in the preceding clauses (a) through (c), in which the monthly average balance of funds on deposit in the aggregate for all such accounts is less than the Threshold Amount.

"<u>Excluded Assets</u>" shall have the meaning set forth in <u>Section 3.1</u>.

"<u>Excluded Taxes</u>" means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan pursuant to a law in effect on the date on which (i) such Lender acquires such interest in the Loan or (ii) such Lender changes its lending office, except in each case to the extent that, pursuant to <u>Section 2.12</u>, amounts with respect to such Taxes were payable either to such Lender's assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending office, (c) Taxes attributable to such Recipient's failure to comply with <u>Section 2.12(g)</u> and (d) any withholding Taxes imposed under FATCA.

"<u>Exit Fee</u>" shall have the meaning set forth in <u>Section 2.6(a)</u>.

"<u>Extraordinary Receipts</u>" means any cash received by or paid to or for the account of any Obligor or any Subsidiary thereof not in the Ordinary Course of Business (and not consisting of proceeds described in <u>Section 2.4(b)(i)</u>, <u>2.4(b)(ii)</u> or <u>2.4(b)(iii)</u>), including: (a) proceeds of judgments, proceeds of settlements or other consideration of any kind in connection with any cause of action to the extent not used to pay any corresponding cause of action or to reimburse such Obligor or such Subsidiary for amounts previously expended, (b) indemnification payments received by such Obligor or such Subsidiary to the extent not used or anticipated to be used to pay any corresponding liability or reimburse such Obligor or such Subsidiary for the payment of any such liability, (c) any purchase price adjustment received in connection with any purchase agreement, (d) pension plan reversions, net of Taxes paid or payable with respect to such amounts, (e) insurance proceeds not received in connection with a Casualty Event and (f) payments received in connection with any taking of any assets of a Person by eminent domain proceedings.

"<u>FATCA</u>" means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code and any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and implementing such Sections of the Code.

"<u>Federal Funds Rate</u>" means, for any period, a fluctuating per annum interest rate (rounded upwards, if necessary, to the nearest 1/100 of one percentage point) for each day during such period equal to the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System, as published for such day (or, if such day is not a Business Day, for the immediately preceding Business Day) by the Federal Reserve Bank of New York, or if such rate is not so published for any day that is a Business Day, the average of the quotations for such day on such transactions received by Administrative Agent from three federal funds brokers of recognized standing selected by Administrative Agent.

"<u>Fees</u>" means the Exit Fee, the Make-Whole Amount and any other express fees pursuant to any fee letter between Borrowers and Administrative Agent.

"<u>Financial Covenants</u>" means, collectively, the covenants set forth in <u>Section 6.7</u>.

"<u>Financial Officer</u>" means any of the chief financial officer, vice president of finance, principal accounting officer, treasurer, controller or other senior financial officer of the applicable Obligor or of the sole member of the applicable Obligor, if such Obligor is managed by its sole member and has no such officers.

"<u>Fiscal Year</u>" means the fiscal year of Obligors and their respective Subsidiaries, which period shall be the 12-fiscal month period ending on December 31 of each year.

"<u>Foreign Lender</u>" means (a) if any Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (b) if any Borrower is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which such Borrower is resident for tax purposes.

"<u>Fund</u>" means any Person (other than a natural Person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its activities.

"<u>GAAP</u>" means generally accepted accounting principles in the United States in effect from time to time.

"<u>Governmental Authority</u>" means any nation, sovereign or government, any state or other political subdivision thereof, any agency, authority or instrumentality thereof and any entity or authority exercising executive, legislative, taxing, judicial, regulatory or administrative functions of or pertaining to government, and any corporation or other entity owned or controlled, through stock or capital ownership or otherwise, by any of the foregoing, including any central bank stock exchange regulatory body arbitrator, public sector entity, supra-national entity (including the European Union and the European Central Bank) and any self-regulatory organization (including the National Association of Insurance Commissioners).

"<u>Guarantor</u>" means (a) each of the Persons set forth on the signature pages to this Agreement as a guarantor, (b) each Borrower under this Agreement as to each other Borrower, (c) each Person who becomes a guarantor of the Obligations pursuant to <u>Section 6.12(b)</u> and (d) any other Person who may guarantee, pursuant to a written agreement, payment or collection of any of the Obligations.

"<u>Guaranty</u>" means each guaranty now or hereafter executed by a Guarantor with respect to any of the Obligations, including the guaranty set forth in <u>Section 9</u>.

"<u>Hazardous Materials</u>" means any hazardous, toxic or dangerous substance, materials and wastes, including hydrocarbons (including naturally occurring or man-made petroleum and hydrocarbons), flammable explosives, asbestos, urea formaldehyde insulation, radioactive materials, biological substances, polychlorinated biphenyls, pesticides, herbicides and any other kind or type of pollutants or contaminants (including materials which include hazardous constituents), sewage, sludge, industrial slag, solvents or any other similar substances, materials or wastes and including any other substances, materials or wastes that are or become regulated under any Environmental Law (including any that are or become classified as hazardous or toxic under any Environmental Law); <u>provided</u> that cannabis and marijuana are explicitly excluded from the definition of Hazardous Materials, as are any substances or products that would be deemed Hazardous Materials solely because they contain cannabis or marijuana, in each case, to the extent such substances are deemed hazardous solely because cannabis and marijuana are unlawful under US Federal Cannabis Law.

"<u>Hedging Agreement</u>" means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a "<u>Master Agreement</u>"), including any such obligations or liabilities under any Master Agreement.

"<u>Indebtedness</u>" means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the maximum amount (after giving effect to any reductions or prior drawings which have been reimbursed) of all direct obligations or Contingent Obligations of such Person arising under letters of credit (including standby and commercial) (other than to the extent cash collateralized), bankers' acceptances, bank guaranties, surety bonds and similar instruments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) obligations under any Hedging Agreement, or other interest rate management device, foreign currency exchange agreement, currency swap agreement, commodity price protection agreement or other interest or currency exchange rate or commodity price hedging arrangement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) all obligations of such Person to pay the deferred purchase price of property or services (other than current trade payables incurred in the Ordinary Course of Business), purchase price adjustments, profit sharing arrangements, deferred purchase money amounts and similar payment obligations or continuing obligations of any nature of such Person arising out of purchase and sale contracts, including Earnout Payments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse (but if limited in recourse or that Person has not assumed or otherwise become liable for that indebtedness, then that indebtedness will be measured at the lesser of (i) the aggregate principal amount of such indebtedness and (ii) the fair market value of the property securing that indebtedness as determined by such Person in good faith, in each case at the applicable time of determination);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) all Capitalized Lease Obligations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) all Equity Interests of such Person subject to repurchase or redemption rights or obligations (excluding repurchases or redemptions at the sole option of such Person);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) all indebtedness, obligations or liabilities secured by a Lien on any asset of such Person, whether or not such indebtedness, obligations or liabilities are otherwise an obligation of such Person; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any guaranty of any indebtedness, obligations or liabilities of a type described in the foregoing clauses.

For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made non-recourse to such Person.

"<u>Indemnified Claims</u>" means all claims, demands, liabilities, obligations, losses, damages, fines, fees, penalties, actions, judgments, suits, awards, remedial response costs, expenses or disbursements of any kind or nature whatsoever (including attorneys', accountants', auctioneers', consultants' or paralegals' fees and expenses), which may at any time be imposed on, incurred by or asserted against any Indemnitee in any way relating to or arising out of this Agreement, any other Loan Document, or any other document contemplated by this Agreement, including any of the foregoing in any way relating to or arising out of (a) the administration, performance or enforcement by Administrative Agent or any Lender of any of the Loan Documents or consummation of any of the transactions described therein, (b) the existence of, perfection of, a Lien upon or the sale or collection of or other realization upon any Collateral, (c) the breach of any representation or warranty under this Agreement or any other Loan Document, or (d) the failure of any Obligor to observe, perform or discharge any of such Obligor's covenants or duties under any of the Loan Documents, in each case including any cost or expense incurred by any Indemnitee in connection with any investigation, litigation, arbitration or other judicial or non-judicial proceeding, whether or not such Indemnitee is a party thereto.

"<u>Indemnified Taxes</u>" means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of any Obligor under any Loan Document and (b) to the extent not otherwise described in clause (a) above, Other Taxes.

"<u>Indemnitees</u>" means Administrative Agent, each Lender and each of their respective officers, directors, members, managers, partners, agents, advisors, attorneys and Affiliates.

"<u>Information Certificate</u>" means that certain Information Certificate dated the Closing Date and executed by each Obligor in favor of Administrative Agent and Lenders, and each other Information Certificate delivered pursuant to <u>Section 6.12(b)</u>, in each case, as Schedule 22 is updated from time to time pursuant to <u>Section 6.5(f</u>).

"<u>Insolvency Proceeding</u>" means (a) any case, action or proceeding before any court or other Governmental Authority relating to bankruptcy, reorganization, insolvency, liquidation, receivership, dissolution, winding-up or relief of debtors or (b) any general assignment for the benefit of creditors, formal or informal moratorium, composition, marshaling of assets for creditors or other, similar arrangement in respect of its creditors generally or any substantial portion of its creditors, in each case, undertaken under any Debtor Relief Law.

"<u>Interest Expense</u>" means, for any period, for Obligors and their respective Subsidiaries on a consolidated basis, the sum of (a) all interest, premium payments, debt discount, fees, charges and related expenses (excluding closing costs associated with this transaction) in connection with borrowed money (including capitalized interest) or in connection with the deferred purchase price of assets during such period, <u>plus</u> (b) all payments made under interest rate Hedging Agreements during such period to the extent not included in clause (a) of this definition, <u>minus</u> (c) all payments received under interest rate Hedging Agreements during such period, <u>plus</u> (d) the portion of rent expense with respect to such period under Capitalized Lease Obligations.

"<u>Interest Rate</u>" shall have the meaning set forth on <u>Schedule 2</u>.

"<u>Investment</u>" means any beneficial ownership of (including stock, partnership or limited liability company interest or other securities) any Person, or any loan, advance or capital contribution to any Person.

"<u>Lease</u>" means any lease or similar agreement attached to or executed in connection with any Real Property to which an Obligor is a party.

"<u>Lender</u>" and "<u>Lenders</u>" shall have the meanings set forth in the Preamble. Each reference to a Lender or Lenders in this Agreement shall mean a reference to any Tranche A Lender or Tranche B Lender, or all Tranche A Lenders or all Tranche B Lenders, as applicable and as the context requires.

"<u>Lender Expenses</u>" means all of the following, without duplication: (a) subject to <u>Section 2.12</u>, Taxes required to be paid by an Obligor under the Loan Documents that are paid or advanced by Administrative Agent or any Lender; (b) subject to <u>Section 2.12</u>, Taxes levied on, or assessed, placed or made against any of the Collateral, any Loan Documents or the Obligations; (c) insurance (including title insurance) premiums required to be paid by an Obligor under the Loan Documents that are paid or advanced by Administrative Agent or any Lender; (d) filing, recording, publication and search fees paid or incurred by Administrative Agent in connection with the Loan Documents, the Collateral or the Obligations, including all recording fees and, subject to <u>Section 2.12</u>, Taxes imposed in connection with such filings, recordings, publications and searches; (e) the reasonable and invoiced (in summary form) out-of-pocket costs, fees (including attorneys', paralegals', auctioneers', appraisers', financial advisors', agents' or consultants' fees) and expenses incurred by Administrative Agent or, if an Event of Default has occurred and is continuing, any Lender (i) to inspect, copy, audit or examine the Books of any Obligor or inspect, count, appraise or examine any Collateral or obtain any quality of earnings report, (ii) to monitor or obtain compliance with this Agreement and the other Loan Documents and to otherwise administer the Transactions (including all due diligence costs, fees and expenses), (iii) to correct any Default or Event of Default or enforce any provision of any of the Loan Documents, whether or not litigation is commenced, (iv) in connection with any restructuring, repayment, refinancing or "workout" of the transactions contemplated by this Agreement or any other Loan Document (whether or not the transactions contemplated hereby or thereby shall be consummated), (v) in gaining possession of, maintaining, handling, protecting, preserving, insuring, storing, shipping, preparing for sale, advertising for sale, selling or foreclosing a Lien upon any of the Collateral, whether or not a sale is consummated, (v) in collecting any Accounts or recovering any of the Obligations, (vi) in structuring, drafting, reviewing, negotiating, syndicating or preparing any of the Loan Documents or any amendment, modification or waiver of any of the Loan Documents (whether or not the transactions contemplated hereby or thereby shall be consummated) or (vii) in defending the validity, perfection, priority or enforceability of Liens; <u>provided</u>, <u>however</u>, any costs, fees or expenses pursuant to this sentence incurred in relation to any legal services shall be limited to the reasonable and invoiced (in summary form) out-of-pocket costs, fees and expenses of one primary firm of outside legal counsel to Administrative Agent and Lenders, and, if deemed reasonably necessary by Administrative Agent, of one firm of regulatory counsel and one firm of local counsel to Administrative Agent and Lenders in each appropriate jurisdiction (which may include a single firm of local counsel to Administrative Agent and Lenders acting in multiple jurisdictions) and, in the case of an actual or perceived conflict of interest (as reasonably determined by the applicable Lenders), one additional firm of counsel for each group of similarly situated Lenders; and (f) reasonable and documented out-of-pocket travel and other out-of-pocket expenses (including all travel, meal and lodging expenses) in connection with attendance at Board meetings by the representatives of Administrative Agent. Notwithstanding the foregoing, in no event shall Lender Expenses include any Excluded Taxes or Indemnified Taxes.

"<u>Licensing Divisions</u>" means each Governmental Authority authorized under any US State Cannabis Laws to regulate the growth, processing, manufacturing, testing, transportation, distribution, dispensation, and sale of cannabis.

"<u>Lien</u>" means any lien (statutory or other) mortgage, pledge, hypothecation, assignment, security interest, encumbrance, charge, claim, restriction on transfer or similar restriction or other security arrangement of any kind or nature whatsoever, including any conditional sale or other title retention agreement and any capital or financing lease having substantially the same economic effect as any of the foregoing.

"<u>Lien Waiver</u>" means the waiver or subordination of Liens satisfactory to Administrative Agent from a lessor, mortgagee, warehouse operator, bailee, processor or other third party that may have a Lien upon any Collateral that is in such third party's possession or is located or leased by such party to an Obligor, by which such Person shall waive or subordinate its Liens and claims with respect to any Collateral in favor of Administrative Agent and shall assure Administrative Agent's access to any Collateral for the purpose of allowing Administrative Agent to enforce its rights and Liens with respect thereto.

"<u>Liquidity</u>" means, as at any time of determination, the aggregate amount of cash and Permitted Investments described in clause (c) of the definition thereof of Obligors, that, under GAAP accounting, is (a) free and clear of all Liens (other than Permitted Liens described in clause (a), (f), (i) or (k) of the definition thereof), (b) not earmarked for any particular use nor subject to any restrictions on the use thereof and (c) subject to a Controlled Account Agreement.

"<u>Loan Account</u>" shall have the meaning set forth in <u>Section 2.8(c)</u>.

"<u>Loan Commitment</u>" means (a) with respect to any Tranche A Lender, its Tranche A Loan Commitment, and (b) with respect to any Tranche B Lender, its Tranche B Loan Commitment, as applicable.

"<u>Loan Documents</u>" means, collectively, this Agreement, each Note, each Guaranty, each Information Certificate, the Disbursement Letter, each Collateral Assignment of Management Services Agreement, each Controlled Account Agreement, each Mortgage, each Environmental Indemnity Agreement, each Collateral Assignment of Lease, each Lien Waiver, each Compliance Certificate, each subordination or intercreditor agreement to which Administrative Agent is a party and all other documents, instruments, certificates and agreements executed or delivered in connection with or contemplated by this Agreement. No document or agreement between or among (a) one or more Obligors, on the one hand, and (b) one or more Secured Creditors in a capacity other than as a Secured Creditor, on the other hand, shall be a Loan Document, including the Consulting Agreement, the Parent Management Agreement, any Management Services Agreement, [\*\*\*], the Eaze Transaction Documents or the PharmaCann Transaction Documents.

"<u>Loans</u>" means, collectively, the amounts advanced by Lenders to Borrowers pursuant to <u>Section 2.1</u>.

"<u>Make-Whole Amount</u>" means, with respect to any prepayment of the Loans or any repayment in connection with an acceleration of the Loans prior to the Tranche B Maturity Date, if such prepayment or repayment occurs on or prior to June 19, 2026, an amount equal to the sum of all payments of interest on the Loans that would be due from the date of such prepayment or repayment through June 19, 2026, if no prepayment or repayment of such Loans was made on or prior to June 19, 2026.

"<u>Managed Entity</u>" means any Person engaged in a Cannabis Business, in each case, that enters into a Management Services Agreement with an Obligor with respect to any Cannabis Business.

"<u>Management Services Agreement</u>" means a management services agreement or other similar agreement between an Obligor, as manager or in any similar capacity, on the one hand, and a Managed Entity, on the other hand. Neither the Consulting Agreement nor the Parent Management Agreement is a Management Services Agreement.

"<u>Margin Stock</u>" means margin stock within the meaning of Regulations T, U and X, as applicable, of the United States Securities Exchange Act of 1934.

"<u>Material Adverse Effect</u>" means the effect of any event, condition, action, omission or circumstance, which, alone or when taken together with other events, conditions, actions, omissions or circumstances occurring or existing concurrently therewith, (a) has, or with the passage of time is reasonably likely to have, a material adverse effect upon the business, operations, properties or condition (financial or otherwise) of Parent and the other Obligors, taken as a whole, (b) has or could be reasonably expected to have any material adverse effect upon the validity or enforceability of this Agreement or any of the other material Loan Documents, (c) has any material adverse effect upon the title to or value of any material part of the Collateral, the Liens of Administrative Agent with respect to the Collateral or the priority of any such Liens (other than as a result of voluntary and intentional discharge of any such Lien by Administrative Agent), (d) materially impairs the ability of any Obligor to perform its obligations under any of the Loan Documents, including repayment of any of the Obligations when due, or (e) materially impairs the ability of Administrative Agent or any Lender to enforce or collect the Obligations or realize upon any of the Collateral in accordance with the Loan Documents or applicable law.

"<u>Material Cannabis License</u>" means any Cannabis License that constitutes a Material Contract.

"<u>Material Contracts</u>" means (a) any contract or agreement evidencing, securing or pertaining to any Indebtedness or other obligations, or any guaranty thereof, in a principal amount exceeding the Threshold Amount, (b) any operating lease (including any Lease) where annual rentals exceed the Threshold Amount, (c) any Management Services Agreement where annual cash compensation to an Obligor is paid is in excess of the Threshold Amount, (d) the MMT Acquisition Agreement, (e) any Cannabis License generating annual revenue in excess of the Threshold Amount, (f) [\*\*\*], (g) any contract or agreement (other than the contracts and agreements set forth in the foregoing clauses (a) through (f)) which involves aggregate consideration payable to or by any Person in excess of the Threshold Amount on an annual basis or (h) any other contract or agreement the termination of which (without contemporaneous replacement of substantially equivalent value) could reasonably be expected to have a Material Adverse Effect, including any management, rental, service, supply, security, maintenance, or similar contract.

"<u>Maturity Date</u>" means, as applicable, (a) with respect to Tranche A Loans, the Tranche A Maturity Date and (b) with respect to Tranche B Loans, the Tranche B Maturity Date.

"<u>MMT Acquisition</u>" means the acquisition by Parent of certain assets of the Company Parties (as defined in the MMT Acquisition Agreement) pursuant to the MMT Acquisition Documents.

"<u>MMT Acquisition Agreement</u>" means that certain Asset Purchase Agreement dated as of November 13, 2025, by and among Parent, Medicine Man Technologies, Inc. and certain of its Subsidiaries party thereto, as sellers, and the other Persons party thereto, as amended, restated, supplemented or otherwise modified from time to time.

"<u>MMT Acquisition Documents</u>" means, collectively, the MMT Acquisition Agreement and the other agreements, documents and instruments executed in connection with the MMT Acquisition Agreement.

"<u>Mortgage</u>" means each mortgage, deed of trust, or deed to secure debt, trust deed, assignment of leases and rents or other security document granted by any applicable Obligor to Administrative Agent, for the benefit of Secured Creditors, in respect of any Real Property owned by such Obligor, in form and substance reasonably acceptable to Administrative Agent.

"<u>Mortgaged Property</u>" means any Real Property subject to a Mortgage.

"<u>Negotiable Collateral</u>" shall have the meaning set forth in <u>Section 3.1(g)</u>.

"<u>Net Cash Proceeds</u>" means, with respect to any Asset Disposition, Casualty Event or other loss of assets by any Obligor or any issuance by any Obligor of any Equity Interests or the incurrence by any Obligor of any Indebtedness (other than Permitted Indebtedness), the aggregate amount of cash received for such assets or Equity Interests, or as a result of such Indebtedness, net of reasonable and customary transaction costs properly attributable to such transaction and payable by any Obligor to a non-Affiliate in connection with such Asset Disposition, Casualty Event or other loss of assets or the issuance of any Equity Interests or the incurrence of any Indebtedness, including sales commissions and underwriting discounts.

"<u>Note</u>" means a Tranche A Note or Tranche B Note, as applicable.

"<u>Obligations</u>" means all indebtedness, liabilities, obligations, covenants and duties now or at any time or times hereafter owing by any Obligor to any Secured Creditor, of any kind and description, incurred pursuant to or evidenced by any of the Loan Documents and whether direct or indirect, absolute or contingent, due or to become due or joint or several, including the principal of and interest on the Loans, all Fees and other fees, all obligations of any Obligor in connection with any indemnification of any Secured Creditor and all Lender Expenses, in each case, incurred pursuant to or evidenced by any of the Loan Documents, and including any interest and fees that accrue after the commencement by or against any Obligor of any Insolvency Proceeding naming such Person as the debtor in such Insolvency Proceeding, regardless of whether such interest and fees are allowed claims in such Insolvency Proceeding.

"<u>Obligor</u>" means each Borrower and each Guarantor.

"<u>Obligor Collateral</u>" shall have the meaning set forth in <u>Section 3.1</u>.

"<u>Obligor's Payment</u>" shall have the meaning set forth in <u>Section 2.11(d)</u>.

"<u>OFAC</u>" means the Office of Foreign Assets Control of the United States Department of the Treasury.

"<u>Ordinary Course of Business</u>" means, with respect to any Person, the ordinary course of such Person's business, as conducted by such Person in accordance with past practices and undertaken by such Person in good faith and not for the purpose of evading any covenant or restriction in any Loan Document.

"<u>Organic Documents</u>" means, with respect to any Person, its charter, certificate or articles of incorporation, bylaws, certificate or articles of organization, limited liability agreement, operating agreement, members agreement, shareholders agreement, partnership agreement, certificate of partnership, certificate of formation, investor rights agreement, right of first refusal agreement, co-sale agreement, voting trust or similar agreement or instrument governing the formation or operation of such Person.

"<u>Other Connection Taxes</u>" means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).

"<u>Other Taxes</u>" means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment.

"<u>Parent</u>" shall have the meaning set forth in the Preamble.

"<u>Parent Management Agreement</u>" means that certain Management Fee Agreement between Parent, on the one hand, and Vireo Health of Arcadia, LLC, a Delaware limited liability company, on the other hand.

"<u>Participant</u>" shall have the meaning set forth in <u>Section 11.6(d)</u>.

"<u>Participation Register</u>" shall have the meaning set forth in <u>Section 11.6(d)</u>.

"<u>PATRIOT Act</u>" means the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)).

"<u>Payment Date</u>" means the first day of each February and August; <u>provided</u> that if any Payment Date falls on a day that is not a Business Day and such payment is due and payable in cash, the date for payment thereof shall be made on the immediately succeeding Business Day.

"<u>Permits</u>" means, with respect to any Person, any authorizations, consents, permits, approvals, authorizations, licenses, registrations, certificates, concessions, grants, variances, permissions and exemptions from, and all filings, contractual obligations and registrations with, and all reports to, any Governmental Authority, in each case whether or not having the force of law and applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject, which are required for (a) the execution, delivery and performance of the Loan Documents, (b) the transactions contemplated by the Loan Documents, (c) the conduct of the business of any Obligor as then-currently conducted or (d) the ownership (or lease) of the properties of any Obligor.

"<u>Permitted Acquisition</u>" means (t) the MMT Acquisition, (u) [\*\*\*], (v) [\*\*\*], (w) the Eaze Acquisition, (x) the PharmaCann Acquisition, (y) so long as no Event of Default has occurred and is continuing or would results therefrom, any Acquisition of any Colorado-licensed Cannabis Business, and (z) any other Acquisition that, unless Administrative Agent otherwise agrees in its discretion, satisfies each of the following requirements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the business or Person acquired in connection with such Acquisition is engaged in substantially the same business as Vireo Growth or any Obligor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) such Acquisition is not consummated as a hostile or contested Acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if a new Subsidiary is formed or acquired as a result of or in connection with such Acquisition, Borrowers shall have complied with the requirements of <u>Sections 6.12</u> and, if applicable, <u>6.13</u> in connection therewith within [\*\*\*] days following the consummation of such Acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) such Acquisition and all transactions related thereto shall be consummated in accordance with all applicable laws (excluding US Federal Cannabis Law) in all material respects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) such Acquisition would not reasonably be expected to cause a Material Adverse Effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the Transaction Conditions are met after giving pro forma effect to such Acquisition.

"<u>Permitted Asset Disposition</u>" means an Asset Disposition by any Obligor or any Subsidiary of any Obligor of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) Inventory in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) non-exclusive licenses and similar arrangements for the use of the property of Obligors in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) worn-out or obsolete Equipment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any Asset Disposition resulting from a loss of, damage to or destruction of, or any condemnation or other taking for public use of, any property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the making of Permitted Investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any Sale and Leaseback Transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) other issuances of Equity Interests of Parent to the extent any such issuance does not constitute a Change of Control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) [\*\*\*]; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any other Asset Disposition so long as the Transaction Conditions are met after giving pro forma effect thereto.

"<u>Permitted Indebtedness</u>" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Indebtedness of Obligors in favor of Lenders arising under this Agreement or any other Loan Document;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any Indebtedness of any Obligor arising under a Hedging Agreement entered into in the Ordinary Course of Business and not for speculative purposes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) (i) Indebtedness in an amount in excess of the Threshold Amount, to the extent disclosed on Schedules 16(a) and 16(b) of the Information Certificate dated the Closing Date, and (ii) other Indebtedness in an amount less than the Threshold Amount existing on the Closing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Indebtedness (i) evidencing the deferred purchase price of newly acquired equipment or incurred to finance the acquisition of equipment of such Obligor (pursuant to purchase money security arrangements or otherwise, whether owed to the seller or a third party) used in the Ordinary Course of Business of such Obligor (<u>provided</u> that such Indebtedness is incurred within [\*\*\*] days of the acquisition of such property), or (ii) evidenced by Capitalized Leases into which such Obligor enters for the acquisition of equipment used in the Ordinary Course of Business of such Obligor; <u>provided</u> that the aggregate outstanding principal amount of such Indebtedness under clauses (i) and (ii) of this clause (d) shall not exceed $4,000,000 in the aggregate in any Fiscal Year of Obligors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Indebtedness acquired in connection with a Permitted Acquisition, so long as (i) such Indebtedness exists prior to the consummation of such Permitted Acquisition and is not created in contemplation of or in connection with such Permitted Acquisition and (ii) both before and after giving pro forma effect to the incurrence of such Indebtedness, the Transaction Conditions are satisfied;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) endorsements for collection, deposit or negotiation and warranties of products or services, in each case, incurred in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Subordinated Debt, so long as the subordination or intercreditor agreement applicable thereto, if any, is in full force and effect and no Event of Default under <u>Section 8.1(t)</u> has occurred with respect thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) unsecured Indebtedness incurred in the Ordinary Course of Business of such Obligor and its Subsidiaries in respect of open accounts extended by suppliers on normal trade terms in connection with purchases of goods and services which are not overdue for a period of more than [\*\*\*] days or, if overdue for more than [\*\*\*] days, as to which a dispute exists, the validity or amount thereof is being Properly Contested;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) unsecured intercompany Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Indebtedness in respect of surety bonds, performance bonds and similar instruments issued in the Ordinary Course of Business in an aggregate amount not to exceed $4,000,000 at any time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) unsecured Indebtedness in an aggregate amount not exceeding $4,000,000 at any time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Contingent Obligations of any Obligor in respect of Indebtedness otherwise permitted hereunder (other than the Indebtedness permitted under clause (w) hereof);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Indebtedness in respect of netting services, overdraft protection and otherwise in connection with deposit accounts or similar accounts incurred in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Indebtedness owed to any Person providing worker's compensation, health, disability or other employee benefits or property, casualty or liability insurance to any Obligor or any Subsidiary incurred in connection with such Person providing such benefits or insurance pursuant to customary reimbursement or indemnification obligations to such Person, in each case, in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) Indebtedness of any Obligor to the extent constituting (i) Permitted Investments or (ii) Permitted Asset Dispositions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) Indebtedness relating to judgments, including appeal bonds, or awards not constituting an Event of Default under <u>Section 8.1(f)</u> or <u>8.1(q)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) extensions, refinancings and renewals of any Permitted Indebtedness, <u>provided</u> that (i) the principal amount thereof is not increased, (ii) the terms of such extension, refinancing or renewal do not impose more burdensome terms upon the applicable Obligor, (iii) only those Persons obligated with respect to such Indebtedness being extended, refinanced or renewed may be obligated with respect to such extension, refinancing or renewal and (iv) no additional property may be subject to a Lien to secure such extension, refinancing or renewal other than after-acquired property, or other property, falling within the same scope of collateral description;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) Indebtedness arising under the Parent Management Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) Indebtedness arising under the Consulting Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) Indebtedness arising under the PharmaCann Transaction Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) Indebtedness arising under any Management Services Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) [\*\*\*];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) [\*\*\*]; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) [\*\*\*].

"<u>Permitted Investments</u>" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Investments existing on the Closing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any Investments made by any Obligor pursuant to Hedging Agreements entered into in the Ordinary Course of Business and not for speculative purposes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) (i) marketable direct obligations issued or unconditionally guaranteed by the United States of America or any agency or any State thereof maturing within one year from the date of acquisition thereof, (ii) commercial paper issued by a corporation (other than an Affiliate of any Obligor) organized under the laws of any state of the United States or the District of Columbia maturing no more than one year from the date of creation thereof and currently having rating of at least A-2 or P-2 from either Standard & Poor's Corporation or Moody's Investors Service, respectively, (iii) certificates of deposit maturing no more than one year from the date of investment therein that is issued by a bank organized under the laws of the United States (or any state thereof) which has, at the time of acquisition thereof, (A) a credit rating of at least A-2 or P-2 from either Standard & Poor's Corporation or Moody's Investors Service, respectively, and (B) a combined capital and surplus greater than $500,000,000, and (iv) money market accounts, the assets of which consist of investments of the type described in clauses (i) through (iii) above; <u>provided</u> that such Investments in an aggregate shall not exceed the Threshold Amount in any Fiscal Year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) repurchases of Equity Interests in cash from former employees or directors of any Obligor under the terms of applicable repurchase agreements (i) in an aggregate amount not to exceed the Threshold Amount in any Fiscal Year, <u>provided</u> that no Event of Default has occurred, is continuing or would exist after giving effect to the repurchases, or (ii) in any amount where the consideration for the repurchase is the cancellation of indebtedness owed by such former employees to any Obligor regardless of whether an Event of Default exists;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Investments of an Obligor or a Subsidiary thereof in an Obligor or, if Obligors are in the process of complying with Sections <u>6.12</u> and, if applicable, <u>6.13</u>, a Subsidiary created or acquired as permitted by <u>Section 7.1(e)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Investments not to exceed the Threshold Amount in the aggregate in any Fiscal Year consisting of (i) travel advances, employee relocation loans and other employee loans and advances, in each case, in the Ordinary Course of Business, and (ii) loans to employees, officers or directors relating to the purchase of Equity Interests of any Obligor pursuant to employee stock purchase plan agreements approved by the applicable Obligor's Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) transactions expressly permitted by <u>Section 7.4</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Investments (including debt obligations) received in connection with the bankruptcy or reorganization of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are not Affiliates, in the Ordinary Course of Business, <u>provided</u> that this clause (i) shall not apply to Investments of any Obligor in any Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) [\*\*\*]; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) [\*\*\*].

"<u>Permitted Lien</u>" means any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Liens granted in favor of Administrative Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) statutory Liens of landlords, carriers, warehousemen, processors, mechanics, materialmen or suppliers incurred in the Ordinary Course of Business and securing amounts not yet due or declared to be due by the claimant thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) zoning restrictions and easements, licenses, covenants and other restrictions affecting the use of Real Property imposed by law or arising in the Ordinary Course of Business that do not secure any monetary obligations, in each case, which do not interfere in any material respect with the value or use of the property to which such Lien is attached;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Liens in connection with purchase money Indebtedness with respect to Equipment and Capitalized Leases permitted under clause (d) of the definition of Permitted Indebtedness, <u>provided</u> that such Liens attach only to the assets the purchase of which was financed by such purchase money indebtedness or which is the subject of such Capitalized Leases;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Liens set forth on Schedule 16(c) of the Information Certificate dated the Closing Date, <u>provided</u> that such Liens shall secure only those obligations which they secure on the Closing Date and shall not subsequently apply to any other property or assets of an Obligor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Liens specifically permitted by Administrative Agent in writing in its discretion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Liens for taxes, assessments and other government charges or levies not yet due and payable or which are being Properly Contested;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Liens consisting of deposits or pledges made in the Ordinary Course of Business in connection with workers' compensation, unemployment, social security and similar laws, or to secure the performance of statutory obligations, bids, leases, government contracts, trade contracts, and other similar obligations (exclusive of obligations for the payment of borrowed money);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Liens of collecting banks under the UCC on items in the course of collection and normal and customary rights of set-off of banks not given in connection with the issuance of Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Liens arising from filing precautionary UCC financing statements relating solely to leases not prohibited by this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Liens on cash and cash equivalents on deposit with any bank or other depository institution securing obligations owing to such Persons under any treasury, depository, overdraft or other cash management services agreements or arrangements with any Obligor obtained in the Ordinary Course of Business of such Obligor and not Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Liens arising out of conditional sale, title retention, consignment or similar arrangements for sale of goods entered into by any Obligor in the Ordinary Course of Business and not prohibited by this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Liens on the property or assets of an Obligor securing Indebtedness permitted under clause (e) of the definition of Permitted Indebtedness, so long as such Lien exists prior to the consummation of such Permitted Acquisition and is not created in contemplation of or in connection with such Permitted Acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) judgment Liens in respect of judgments that do not constitute an Event of Default under <u>Section 8.1(f)</u> or <u>8.1(r)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) restrictions or conditions imposed on creating, incurring or allowing Liens by any agreement relating to secured Permitted Indebtedness, if such restrictions or conditions apply only to the property securing such Permitted Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) any customary restrictions and conditions imposed on creating, incurring or allowing Liens contained in agreements relating to an Asset Disposition pending such Asset Disposition, <u>provided</u> that such restrictions and conditions apply only to the property to be sold or disposed of and such Asset Disposition is a Permitted Asset Disposition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) customary provisions in Leases restricting the assignment or sublet thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) the Liens securing the Subordinated Debt described in clause (a) of the definition thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) [\*\*\*];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) [\*\*\*]; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) [\*\*\*].

"<u>Permitted Tax Distributions</u>" means cash Distributions to the holders of Equity Interests in any Obligor no more frequently than once per fiscal quarter in an amount that does not exceed the amount necessary to pay U.S. federal, state and local income taxes solely attributable to the holders' distributive shares of the taxable income of such Obligor, determined assuming each holder is subject to taxation at a rate equal to the highest U.S. federal, state and local income tax rate payable by any direct or indirect holder of Equity Interests in such Obligor for the applicable tax year, <u>provided</u> that such Distribution is permitted under applicable law.

"<u>Person</u>" means an individual, partnership, corporation, limited liability company, limited liability partnership, joint stock company, land trust, business trust or unincorporated organization, or a government or agency, department or other subdivision thereof.

"<u>PharmaCann</u>" means PharmaCann Inc., a Delaware corporation.

"<u>PharmaCann Acquisition</u>" means either (a) the acquisition by one or more PharmaCann Subsidiaries of certain assets of PharmaCann and its direct and indirect Subsidiaries or (b) the acquisition of the Equity Interests of PharmaCann, one or more PharmaCann Subsidiaries or its or their respective direct and indirect Subsidiaries by any Obligor.

"<u>PharmaCann Subsidiary</u>" means, collectively, one or more direct or indirect Subsidiaries of Vireo Growth formed to acquire certain assets of PharmaCann or PharmaCann's direct and indirect Subsidiaries.

"<u>PharmaCann Transaction Documents</u>" means any agreements or instruments documenting or relating to the PharmaCann Acquisition.

"<u>Plan</u>" means an employee pension benefit plan that is covered by Title IV of ERISA or subject to the minimum funding standards under Section 412 of the Code and any employee benefit plan within the meaning of Section 3(3) of ERISA that is either (a) maintained by any Obligor for employees or (b) maintained pursuant to a collective bargaining agreement or any other arrangement under which more than one employer makes contributions and to which any Obligor is then making or accruing an obligation to make contributions or has within the preceding five years made or accrued such contributions.

"<u>Properly Contested</u>" means, in the case of any Indebtedness or Taxes of a Person or any Subsidiary thereof that are not paid as and when due or payable by reason of such Person's or such Subsidiary's bona fide dispute concerning its liability to pay same or concerning the amount thereof, (a) such Indebtedness or Taxes are being properly contested in good faith by appropriate proceedings promptly instituted and diligently conducted and (b) such Person or such Subsidiary has established appropriate reserves as shall be required in conformity with GAAP.

"<u>Real Property</u>" means, with respect to any Person, all right, title and interest of such Person (including any leasehold estate) in and to a parcel of real property owned, leased or operated by such Person together with, in each case, all improvements and appurtenant fixtures, equipment, personal property, easements and other property and rights incidental to the ownership, lease or operation thereof.

"<u>Recipient</u>" means Administrative Agent or any Lender, as applicable.

"<u>Release</u>" means any actual or threatened release, spill, emission, leaking, dumping, injection, pouring, deposit, disposal, discharge, dispersal, leaching or migration into or through the environment or within or upon any building, structure, facility or fixture.

"<u>Reportable Event</u>" means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30-day notice period has been waived.

"<u>Required Lenders</u>" means any Lender or Lenders having Total Credit Exposures representing greater than 50.00% of the sum of the Total Credit Exposures of all Lenders.

"<u>Rescindable Amount</u>" shall have the meaning set forth in <u>Section 2.3(g)</u>.

"<u>Restricted Cannabis Activities</u>" means, in connection with the cultivation, distribution, sale and possession of cannabis and related products, each of the following: (a) any activity that is not permitted under applicable US State Cannabis Laws; (b) knowingly distributing or selling cannabis or related products to minors; (c) payments to criminal enterprises, gangs, cartels and Persons subject to Sanctions; (d) non-compliance with applicable anti-terrorism laws and other applicable law relating to money-laundering; (e) diversion of cannabis and related products from states where it is legal under US State Cannabis Law to other states; (f) use of activities permitted under US State Cannabis Law as a cover or pretext for the trafficking of other controlled substances or illegal drugs or other illegal activity; (g) the commission, or making threats, of violence and the use of firearms; (h) growing cannabis and related products on public lands; and (i) directly or indirectly, aiding, abetting or otherwise participating in a common enterprise with any Person or Persons in such activities. For the avoidance of doubt, an activity that becomes a Restricted Cannabis Activity pursuant to a change in US State Cannabis Law shall not be deemed to be a Restricted Cannabis Activity until the later of (x) the date that such new US State Cannabis Law becomes effective, and (y) the date any Obligor is required to be compliant with such US State Cannabis Law.

"<u>Restricted Payment</u>" means (a) Distributions; (b) loans by an Obligor to any direct holder of its Equity Interests other than pursuant to this Agreement and the other Loan Documents; and (c) any payment of management, consulting or similar fees payable by any Obligor or any Subsidiary of an Obligor to any Affiliate.

"<u>Restructuring Support Agreement</u>" means that certain Restructuring Support Agreement, dated as of October 10, 2025, among Medicine Man Technologies Inc. and the other Persons party thereto, as modified by that certain Joinder Agreement and Correction of Scrivener's Errors.

"<u>Sale and Leaseback Transaction</u>" means any arrangement with any Person providing, directly or indirectly, for the leasing by any Obligor or any of its Subsidiaries of real or personal property which has been or is to be sold or transferred by any Obligor or any of its Subsidiaries to such Person or to any other Person to whom funds have been or are to be advanced by such Person on the security of such property or rental obligations of any Obligor or any of its Subsidiaries.

"<u>Sanctioned Country</u>" means, at any time, a country, region or territory which is itself the subject or target of any Sanctions.

"<u>Sanctioned Person</u>" means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by OFAC, the U.S. Department of State or by the United Nations Security Council, or other applicable sanctions authority, (b) any Person operating, organized or resident in a Sanctioned Country, (c) any Person owned or controlled by any such Person or Persons described in the foregoing clauses (a) or (b), or (d) any Person otherwise the subject of any applicable Sanctions.

"<u>Sanctions</u>" means all economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by OFAC or the U.S. Department of State, or (b) the United Nations Security Council, or other applicable sanctions authority.

"<u>Secured Creditors</u>" means, collectively, (a) each Lender, (b) Administrative Agent, (c) each beneficiary of each indemnification obligation undertaken by any Obligor under the Loan Documents, (d) any successors, endorsees, transferees and assigns of each of the foregoing to the extent any such transfer or assign is permitted by the terms of this Agreement and (e) any other holder of any Obligation.

"<u>Solvent</u>" means, as to any Person, such Person and its Subsidiaries, taken as a whole, (a) is able to pay all of its debts as such debts mature, (b) has capital that is not unreasonably small for its business and is sufficient to carry on its business and transactions and all business and transactions in which it is about to engage, (c) is not "insolvent" within the meaning of Section 101(32) of the Bankruptcy Code and (d) has not incurred (by way of assumption or otherwise) any obligations or liabilities (contingent or otherwise) under any of the Loan Documents, or made any conveyance pursuant to or in connection therewith, with actual intent to hinder, delay or defraud either present or future creditors of such Person.

"<u>Specified Event of Default</u>" means an Event of Default arising under <u>Section 8.1(a)</u>, <u>8.1(b)</u> (but solely with respect to noncompliance with <u>Section 6.5</u> or <u>6.7</u>) or <u>8.1(e)</u>.

"<u>Star Buds Claims Indebtedness</u>" means the Indebtedness in an aggregate principal amount of $44,250,000 owing to the holders of the Star Buds Seller Notes (as such term is defined in the Restructuring Support Agreement).

"<u>Subordinated Debt</u>" means (a) if Parent elects in its discretion to assume such Indebtedness or join such Indebtedness as a coborrower or as a guarantor in accordance with terms hereof, the Indebtedness under that certain Loan and Security Agreement, dated as of September 30, 2025, by and among CO Acquisition Vehicle, LLC, a Delaware limited liability company, the lenders party thereto and Chicago Atlantic, as administrative agent; and (b) any other Indebtedness of an Obligor which is subject to a subordination or intercreditor agreement with Administrative Agent in form and content acceptable to Administrative Agent.

"<u>Subsidiary</u>" means, of any Person, a corporation or other entity of whose Equity Interests having ordinary voting power (other than Equity Interests having such power only by reason of the happening of a contingency) to elect a majority of the directors of such corporation, or other Persons performing similar functions for such entity, are owned, directly or indirectly, by such Person.

"<u>Taxes</u>" means any present or future taxes, levies, imposts, duties, fees, assessments, deductions, withholdings or other charges of whatever nature, including income, receipts, excise, property, sales, use, transfer, license, payroll, withholding, social security and franchise taxes now or hereafter imposed or levied by any Governmental Authority and all interest, penalties, additions to tax and similar liabilities with respect thereto.

"<u>Threshold Amount</u>" means $2,000,000.

"<u>Title Policy</u>" means each ALTA Policy for Title Insurance issued by a title company acceptable to Administrative Agent with respect to a parcel of Mortgaged Property, in form and substance satisfactory to Administrative Agent.

"<u>Total Credit Exposure</u>" means, as to any Lender at any time, the outstanding aggregate principal amount of the Loans of such Lender at such time.

"<u>Total Leverage Ratio</u>" means, as of any date of determination, the ratio of (a) an amount equal to (i) the Indebtedness of Obligors and their respective Subsidiaries <u>minus</u> (ii) Liquidity in an aggregate amount not to exceed $1,000,000, to (b) Adjusted EBITDA for the Applicable Fiscal Period.

"<u>Tranche A Lender</u>" means (a) on the Closing Date, each Lender having a Tranche A Loan Commitment as set forth on <u>Schedule 1(a)</u>, and (b) at any time following the making of the Tranche A Loans pursuant to <u>Section 2.1(a)</u>, any Lender holding Tranche A Loans.

"<u>Tranche A Loan</u>" and "<u>Tranche A Loans</u>" shall have the meanings set forth in <u>Section 2.1(a)</u>.

"<u>Tranche A Loan Commitment</u>" means, as to any Tranche A Lender, the amount set forth opposite such Tranche A Lender's name on <u>Schedule 1(a)</u>.

"<u>Tranche A Maturity Date</u>" means December 31, 2031.

"<u>Tranche A Note</u>" means promissory note (or amended and restated promissory note) evidencing Tranche A Loans, substantially in the form of <u>Exhibit B-1</u>.

"<u>Tranche B Lender</u>" means (a) on the Closing Date, each Lender having a Tranche B Loan Commitment as set forth on <u>Schedule 1(b)</u>, and (b) at any time following the making of the Tranche B Loans pursuant to <u>Section 2.1(b)</u>, any Lender holding Tranche B Loans.

"<u>Tranche B Loan</u>" and "<u>Tranche B Loans</u>" shall have the meanings set forth in <u>Section 2.1(b)</u>.

"<u>Tranche B Loan Commitment</u>" means, as to any Tranche B Lender, the amount set forth opposite such Tranche B Lender's name on <u>Schedule 1(b)</u>.

"<u>Tranche B Maturity Date</u>" means December 31, 2033.

"<u>Tranche B Note</u>" means promissory note (or amended and restated promissory note) evidencing Tranche B Loans, substantially in the form of <u>Exhibit B-2</u>.

"<u>Transaction Conditions</u>" mean, with respect to any Permitted Acquisition, Asset Disposition, Indebtedness, Investment, Restricted Payment or other applicable transaction, after giving pro forma effect to such transaction, (a) (i) if such transaction is a Permitted Acquisition or the incurrence of Indebtedness described in clause (e) of the definition of Permitted Indebtedness, no Specified Event of Default has occurred and is continuing or would immediately occur as a result thereof, and (ii) otherwise, no Event of Default has occurred and is continuing or would immediately occur as a result thereof, (b) the Total Leverage Ratio is not more than 2.50:1.00 and (c) Liquidity is not less than $5,000,000. Clauses (b) and (c) of the Transaction Conditions shall be measured (x) at the election of Parent, as of either (i) the consummation date of such transaction or (ii) the effective date of such contract or agreement and (y) with respect to calculation of the Total Leverage Ratio, for the most recently ended period on or prior to such date for which a Compliance Certificate has been delivered pursuant to <u>Section 6.5</u>.

"<u>Transaction Expenses</u>" shall have the meaning set forth in the Restructuring Support Agreement.

"<u>Transactions</u>" means (a) the execution, delivery and performance by each Obligor of each Loan Document to which it is a party, (b) the making of the Loans and (c) the use of the proceeds of the Loans.

"<u>UCC</u>" means the Uniform Commercial Code as the same may, from time to time, be enacted and in effect in the State of New York; <u>provided</u> that to the extent that the UCC is used to define any term herein or in any Loan Document and such term is defined differently in different Articles of the UCC, the definition of such term contained in Article 9 shall govern; <u>provided</u>, <u>further</u>, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection or priority of, or remedies with respect to, Administrative Agent's Lien on any Collateral is governed by the Uniform Commercial Code as enacted and in effect in a jurisdiction other than the State of New York, the term "UCC" means the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely for purposes of the provisions thereof relating to such attachment, perfection, priority or remedies and for purposes of definitions related to such provisions.

"<u>UFCA</u>" shall have the meaning set forth in <u>Section 2.11(c)</u>.

"<u>UFTA</u>" shall have the meaning set forth in <u>Section 2.11(c)</u>.

"<u>United States</u>" and "<u>U.S.</u>" mean the United States of America.

"<u>U.S. Person</u>" means any Person that is a "United States Person" as defined in Section 7701(a)(30) of the Code.

"<u>U.S. Tax Compliance Certificate</u>" has the meaning specified in <u>Section 2.12(g)(ii)(B)(3)</u>.

"<u>US Federal Cannabis Law</u>" means any federal laws of the United States treating cannabis, related products or any Cannabis Business as illegal.

"<u>US State Cannabis Law</u>" means all of the laws, rules, regulations and guidance issued by the Licensing Division and any other law enacted by any state or other Governmental Authority which implements regulatory or enforcement systems to control cannabis, related products or any Cannabis Business.

"<u>Vireo Growth</u>" means Vireo Growth Inc., a British Columbia corporation.

"<u>Withholding Agent</u>" means each Obligor and Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2 <u>UCC Definitions</u>**. All other capitalized terms contained in this Agreement and not otherwise defined shall have, when the context so indicates, the meanings provided for by the UCC. Without limiting the generality of the foregoing, the following terms shall have the meaning ascribed to them in the UCC: Account Debtor; Chattel Paper; Commercial Tort Claim; Commodity Account; Deposit Account; Document; Electronic Chattel Paper; Equipment; Fixtures; Goods; Instrument; Inventory; Investment Property; Letter-of-Credit Right; Payment Intangible; Security; Securities Account; Software; and Supporting Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.3 <u>Consolidated Entities</u>**. The word "consolidated" means, when used with reference to the Financial Covenants, the defined terms used therein, financial statements and financial statement items, in each case, of Obligors and their respective Subsidiaries, (a) as to each Obligor, on a consolidated basis with its Subsidiaries, and (b) as to Obligors, on a combined basis after giving effect to each consolidation described in clause (a) of this sentence.

**SECTION 2. LOANS AND TERMS OF REPAYMENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1 <u>The Loans</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to and upon the terms and conditions set forth herein, on the Closing Date each Tranche A Lender shall, severally and not jointly with any other Tranche A Lender, make a term loan (each, a "<u>Tranche A Loan</u>," and collectively, the "<u>Tranche A Loans</u>") to Borrowers in an amount equal to such Tranche A Lender's Tranche A Loan Commitment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to and upon the terms and conditions set forth herein, on the Closing Date each Tranche B Lender shall, severally and not jointly with any other Tranche B Lender, make a term loan (each, a "<u>Tranche B Loan</u>," and collectively, the "<u>Tranche B Loans</u>") to Borrowers in an amount equal to such Tranche B Lender's Tranche B Loan Commitment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The aggregate amount of (i) Tranche A Loans made pursuant to <u>Section 2.1(a)</u> shall not exceed the Aggregate Tranche A Loan Commitment, and no Tranche A Lender shall be required to make Tranche A Loans in excess of its Tranche A Loan Commitment, and (ii) Tranche B Loans made pursuant to <u>Section 2.1(b)</u> shall not exceed the Aggregate Tranche B Loan Commitment, and no Tranche B Lender shall be required to make Tranche B Loans in excess of its Tranche B Loan Commitment. Each Loan may be repaid or prepaid in accordance with the provisions hereof, but once repaid or prepaid may not be reborrowed. The Loan Commitments shall terminate concurrently with the advance of the Loans on the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2 <u>Disbursement of Loans</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If all of the conditions set forth in <u>Section 4.1</u> to the effectiveness of this Agreement are met prior to 10:00 a.m. on the Business Day immediately prior to the Closing Date, then, each Lender (other than Commitment Party) will make available its pro rata portion of the Loans to be made on the Closing Date in the manner provided in <u>Section 2.2(b)</u> no later than noon on the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Lender (other than Commitment Party) shall make available all amounts it is to fund to Borrowers in immediately available funds and in Dollars to Administrative Agent in an account designated by Administrative Agent, and, following receipt thereof in such account, Administrative Agent will remit such amounts, in immediately available funds and in Dollars, as set forth in the Disbursement Letter. The failure of any Lender to make available the amounts it is to fund to Borrowers hereunder or to make a payment required to be made by it under any Loan Document shall not relieve any other Lender of its obligations under any Loan Document, but no Lender shall be responsible for the failure of any other Lender to make any payment required to be made by such other Lender under any Loan Document.

Nothing in <u>Section 2.2(a</u>) or this <u>Section 2.2(b)</u> shall be deemed to relieve any Lender from its obligation to fulfill its commitments and obligations hereunder or to prejudice any rights that Borrowers may have against such Lender as a result of any default by such Lender hereunder (it being understood, however, that no Lender shall be responsible for the failure of any other Lender to fulfill its commitments and obligations hereunder).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) As set forth in the Restructuring Support Agreement, subject to and upon the terms and conditions set forth herein, on the Closing Date, Parent's obligation to pay the Commitment Premium (as defined in the Restructuring Support Agreement) to Commitment Party shall be exchanged for and become (and Commitment Party shall be deemed to have made) a term loan hereunder (which shall be a "Tranche A Loan" for purposes of this Agreement) to Borrowers in an aggregate original principal amount equal to its Tranche A Loan Commitment and a term loan hereunder (which shall be a "Tranche B Loan" for purposes of this Agreement) to Borrowers in an aggregate original principal amount equal to its Tranche B Loan Commitment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3 <u>Payments</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Borrowers agree to pay to Administrative Agent, for the benefit of Lenders, all outstanding principal and accrued and unpaid interest due on the Loans on the Maturity Date or upon such earlier date on which the Obligations are accelerated pursuant to the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Interest on the Loans shall be due and payable as provided in <u>Section 2.5</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Obligations requiring the payment of money, if any, shall be due and payable as and when provided in the Loan Documents, or, if the date of payment is not specified in the Loan Documents, on demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Payments due hereunder, under any other Loan Document or otherwise payable to Administrative Agent or any other Secured Creditor in connection with the Transactions shall be made in Dollars, in immediately available funds and, unless otherwise required by <u>Section 2.12(b)</u>, free and clear of, and without condition, deduction for or withholding for, any claim, counterclaim, defense, recoupment, setoff or Taxes not later than 2:00 p.m. on the date when due. Except as provided in the definition of Payment Date, whenever any payment of any Obligations shall be due on a day that is not a Business Day, including the Maturity Date, the date for payment thereof shall be the immediately preceding Business Day. If any amount applied to the Obligations is subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or any other Person, then the Obligations or part thereof originally intended to be satisfied, and all Liens, rights and remedies therefor, shall be revived and continued in full force and effect as if such amount had not been made or received. The provisions hereof shall survive payment in full of the Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Borrowers shall make each payment under any Loan Document by transfer to Administrative Agent's or the applicable Lender's account, as the case may be, pursuant to wire transfer instructions provided by Administrative Agent or such Lender, or, at the option of Administrative Agent or any Lender, in such manner and at such place in the United States as Administrative Agent or such Lender shall have designated to Borrowers in writing. Without limiting the generality of the foregoing, Borrowers agree that all such payments to Administrative Agent and each Lender may be made, at the option of Administrative Agent or any such Lender, by ACH or other electronic payment pursuant to an Authorization Agreement for Pre-Authorized Payments (Debit) in a form approved by Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) In addition to the foregoing, each Borrower hereby irrevocably promises to pay all Obligations, including the outstanding principal amount of the Loans and interest and fees with respect to the foregoing, as the same become due and payable hereunder and, in any event, on the Maturity Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Unless Administrative Agent shall have received notice from Borrowers prior to the date on which any payment is due to Administrative Agent for the account of Lenders hereunder that Borrowers will not make such payment, Administrative Agent may assume that Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the applicable Lenders, as the case may be, the amount due. With respect to any payment that Administrative Agent makes for the account of Secured Creditors hereunder as to which Administrative Agent determines (which determination shall be conclusive absent manifest error) that any of the following applies (such payment referred to as the "<u>Rescindable Amount</u>"): (i) Borrowers have not in fact made such payment; (ii) Administrative Agent has made a payment in excess of the amount so paid by Borrowers (whether or not then owed); or (iii) Administrative Agent has for any reason otherwise erroneously made such payment, then each applicable Secured Creditor severally agrees to repay to Administrative Agent forthwith on demand the amount so distributed to such Secured Creditor, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to Administrative Agent, at the greater of the Federal Funds Rate and a rate determined by Administrative Agent in accordance with banking industry rules on interbank compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.4 <u>Prepayments</u>**<u>; **Conversion of Tranche B Loans**</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Borrowers may, at their option, prepay the outstanding principal amount of the Loans in whole or in part. Borrowers shall give Administrative Agent prior notice of at least five Business Days (or such shorter amount of notice permitted by Administrative Agent in writing in its reasonable discretion) before such prepayment in the case of the Tranche A Loans and at least [\*\*\*] days (or such shorter amount of notice permitted by the Tranche B Lenders in their respective reasonable discretion) before such prepayment in the case of the Tranche B Loans, and each such notice shall be irrevocable (unless Administrative Agent otherwise agrees in its discretion). In the event that Borrowers elect to so prepay the Loans or in the event that the Loans are accelerated upon or after the occurrence of an Event of Default, such prepayment may be made by paying the then outstanding aggregate principal amount of the Loans, together with all interest accrued at such Payment Date and, unless Administrative Agent otherwise waives payment thereof (in whole or in part) in its discretion, the applicable Make-Whole Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Borrowers shall prepay the Obligations within [\*\*\*] Business Days of receipt of, and in an amount equal to 100.00% of, the (i) Net Cash Proceeds received by any Borrower in connection with any Asset Disposition other than any Permitted Asset Disposition or any other transaction permitted under <u>Section 7.4(b)</u>; (ii) Net Cash Proceeds in an aggregate amount in excess of the Threshold Amount received by any Borrower in connection with one or more Casualty Events; and (iii) Extraordinary Receipts in an aggregate amount in excess of the Threshold Amount received by any Borrower; <u>provided</u>, that, in the case of the foregoing clauses (ii) and (iii), if no Event of Default has occurred and is continuing, such prepayment shall not be required to the extent any Borrower reinvests such Net Cash Proceeds from such Casualty Event or Extraordinary Receipt in working capital or replacement assets or other capital assets (other than Inventory, cash or cash equivalents) of a kind then used or usable in the business of any Borrower or any Subsidiary, within [\*\*\*] days after the date of such Casualty Event or Extraordinary Receipt, or enters into a binding commitment thereof within said [\*\*\*] day period and subsequently makes such reinvestment within an additional [\*\*\*] days thereafter. Any mandatory prepayment of the Loans made pursuant to this <u>Section 2.4(b)</u> shall be accompanied by all accrued interest on the amount prepaid and the applicable Make-Whole Amount. Notwithstanding the foregoing, nothing in this <u>Section 2.4(b)</u> shall be construed to permit or waive any Default or Event of Default arising from any event or action described in this <u>Section 2.4(b)</u> not permitted under the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Subject to <u>Section 2.4(d)</u>, all amounts payable pursuant to this <u>Section 2.4</u> shall be applied as follows: <u>first</u>, to all then unpaid Fees and Lender Expenses of Administrative Agent then due; <u>second</u>, pro rata, to all then unpaid Fees and Lender Expenses of Lenders then due; <u>third</u>, pro rata, to all accrued and unpaid interest on the Loans then due; and <u>fourth</u>, pro rata (unless Administrative Agent otherwise agrees in its discretion), to the outstanding aggregate principal balance of the Tranche A Loans or Tranche B Loans; <u>provided</u>, <u>however</u>, that the reduction of the aggregate principal balance of the Loans shall not affect the amount or timing of principal payments required under this Agreement until the balance of such payments is reduced to zero.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding anything to the contrary in this <u>Section 2.4</u>, all proceeds of Collateral received by Administrative Agent or any other Person pursuant to the exercise of remedies against the Collateral, and all payments received upon and after the acceleration of the maturity of any of the Obligations following the occurrence of an Event of Default shall be applied as follows (subject to adjustments pursuant to any agreements entered into among Lenders):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>first</u>, to pay any Lender Expenses of Administrative Agent (in its capacity as Administrative Agent) and fees then due to Administrative Agent (in its capacity as Administrative Agent) under the Loan Documents or otherwise, including any indemnities then due to Administrative Agent (in its capacity as Administrative Agent) under the Loan Documents, until paid in full,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>second</u>, ratably to pay any Lender Expenses of Lenders (each in its capacity as a Lender) and indemnities then due to any Lender (each in its capacity as a Lender) under the Loan Documents until paid in full,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>third</u>, ratably to pay interest due in respect of the outstanding Loans until paid in full,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) <u>fourth</u>, ratably to pay the outstanding principal balance of the Loans until the Loans are paid in full,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) <u>fifth</u>, to pay any other Obligations, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) <u>sixth</u>, to Borrowers or such other Person entitled thereto under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Tranche A Loans and Tranche B Loans shall be *pari passu* and to the extent (i) any voluntary prepayment made pursuant to <u>Section 2.4(a)</u> or mandatory prepayment required by <u>Section 2.4(b)</u> is to be applied to the Loans in Borrowers' discretion in accordance with <u>Section 2.4(c)</u>, or (ii) any proceeds of Collateral or payments received by Administrative Agent or any other Person in the circumstances described in <u>Section 2.4(d)</u> are to be applied to the Loans ratably in accordance with <u>Section 2.4(d)</u>, then in each case, but subject to the forgoing and <u>Sections 2.4(f)</u> and 2.4<u>(g)</u> as applicable, such prepayments, proceeds or payments shall be applied to reduce accrued and unpaid interest and principal, as applicable, ratably based on the outstanding principal amounts of Tranche A Loans and Tranche B Loans, taken as a whole.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Each Tranche B Lender shall have the right to convert its Tranche B Loans into Equity Interests of Parent pursuant to and in accordance with the terms of the Tranche B Note evidencing such Tranche B Lender's Tranche B Loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Except as otherwise required by <u>Section 2.4(d)</u>, any mandatory prepayment pursuant to <u>Section 2.4(b)</u> may be declined in whole or in part by any Lender, with the consent of Parent, without prejudice to such Lender's rights hereunder to accept or decline any future payments in respect of any mandatory prepayment. If a Lender chooses not to accept payment in respect of a mandatory prepayment, in whole or in part, and Parent consents to such choice, the other Lenders that accept such mandatory prepayment shall have the option to share such proceeds on a pro rata basis (and if declined by all Lenders, such declined proceeds shall be retained by Borrowers). Each Lender shall have until the Business Day immediately preceding the Business Day on which such prepayment is due in order to decline such prepayment (and any election by a Lender delivered prior to such Business Day can be rescinded by such Lender at its reasonable discretion until such Business Day).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.5 <u>Interest</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as otherwise provided in <u>Section 2.5(b)</u>, the unpaid principal amount of the Loans shall bear interest from the Closing Date at the Interest Rate and such interest shall be due and payable in cash on each Payment Date, in arrears, with the first installment being payable on August 3, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All interest accruing while an Event of Default exists shall be paid upon demand, and all amounts chargeable to Borrowers under <u>Section 2.6</u> shall, at the election of Administrative Agent in its discretion, bear interest from the date such demand is made, or such later date to which Administrative Agent agrees in its discretion, until paid in full at the Interest Rate or the Default Rate, as applicable. At any time that an Event of Default exists, interest shall accrue at the Default Rate at the election of Administrative Agent in its discretion from the date of the occurrence thereof or such later date to which Administrative Agent agrees in its discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) All computations of interest and fees hereunder shall be made on the basis of a year consisting of 360 days, with regard to the actual number of days (including the first day and the last day) elapsed. Interest on each Loan shall accrue for each day, from and including the date such Loan is made available to Borrowers through and including the date of repayment in full.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.6 <u>Fees and Reimbursement of Expenses</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) On the earliest of (i) the date on which the Tranche A Loans are paid in full, (ii) the Tranche A Maturity Date and (iii) the date on which the Loans are declared immediately due and payable, Borrowers shall pay to, or at the direction of, Administrative Agent, for the ratable benefit of the Tranche A Lenders, an exit fee in an amount equal to 10.00% of the Aggregate Tranche A Loan Commitment (the "<u>Exit Fee</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) On the Closing Date, Borrowers shall reimburse Administrative Agent for its Lender Expenses incurred in connection with the consummation of the transactions contemplated hereby. Borrowers shall reimburse Administrative Agent and each Lender for all Lender Expenses after the Closing Date (i) if an Event of Default exists, on demand, and (ii) otherwise, within [\*\*\*] days of demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) All fees to be paid to Administrative Agent or any Lender under or in connection with the Transactions: shall be fully earned by Administrative Agent and such Lender when due and payable; shall not be subject to rebate, refund or proration under any circumstances; are and shall be deemed to be for compensation for services; and are not, and shall not be deemed to be, interest or any other charge for the use, forbearance or detention of money. All amounts chargeable to Borrowers under this <u>Section 2.6</u> shall be Obligations secured by the Collateral and shall be payable to Administrative Agent, on behalf of Administrative Agent and Lenders (i) if such amount is the Exit Fee or Closing Date Lender Expenses, on the due date thereof, and (ii) otherwise (A) if an Event of Default exists, on demand, and (B) if no Event of Default exists, within [\*\*\*] days of demand. Notwithstanding anything to the contrary in any of the Loan Documents, the obligations of Borrowers under this <u>Section 2.6</u> shall survive the payment in full of the Obligations and termination of the Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.7 <u>Maximum Interest</u>**. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under applicable law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under applicable law: (a) the interest rates hereunder will be reduced to the maximum rate permitted under applicable law; (b) such excess amount shall be first applied to any unpaid principal balance owed by Borrowers; and (c) if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.8 <u>Notes; Loan Account; Account Stated</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) At the option of any Tranche A Lender, the Tranche A Loans advanced by such Tranche A Lender shall be evidenced by a Tranche A Note. The Tranche B Loans advanced by each Tranche B Lender shall be evidenced by a Tranche B Note. Each Note shall be issued by Borrowers to the applicable Lender and shall be duly executed and delivered by an Authorized Officer of each Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness of Borrowers to the appropriate lending office of such Lender resulting from each Loan made by such lending office of such Lender from time to time, including the amounts of principal and interest payable and paid to such lending office of such Lender from time to time under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Administrative Agent shall maintain for its books an account (the "<u>Loan Account</u>") evidencing the Obligations resulting from Loans, including the amount of principal and interest payable from time to time hereunder. Administrative Agent shall debit the Loan Account for the principal amount of the Loans, accrued interest thereon and all other amounts which shall become due from Borrowers pursuant to this Agreement or the other Loan Documents, and shall credit the Loan Account for each payment which Borrowers shall make to it, individually or on behalf of Lenders, in respect to the Obligations. Any failure of Administrative Agent to make an entry in the Loan Account, or any error in doing so, shall not limit or otherwise affect the agreement of Borrowers to repay the Obligations in accordance with the Loan Documents. The entries made in the Loan Account shall constitute conclusive evidence of the information therein, absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.9 <u>Application of Payments and Collections</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Borrower irrevocably waives the right to direct the application of any and all payments and collections at any time or hereafter received by Administrative Agent or any Lender from or on behalf of such Borrower and agrees that Administrative Agent, on behalf of Administrative Agent and Lenders, shall have the continuing right to apply and reapply any and all such payments and collections received at any time hereafter against the Obligations, in such manner as Administrative Agent may deem advisable, subject to <u>Sections 2.4(c), 2.4(d)</u>, <u>2.4(e)</u>, <u>2.4(f)</u> and <u>2.4(g)</u> and any other applicable express provision of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any and all proceeds of Collateral, payments and collections received by Administrative Agent, for the benefit of Administrative Agent and Lenders, on account of the Obligations shall be applied by Administrative Agent such that each Lender shall receive an amount equal to its pro rata share (based on the proportion that the then outstanding Loans held by such Lender bears to the aggregate then outstanding aggregate principal amount of the Loans (for the avoidance of doubt, including all Tranche A Loans and Tranche B Loans but subject to <u>Section 2.4(c)</u>)) thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any and all payments, collections and proceeds of Collateral received by any Lender directly shall be promptly delivered to Administrative Agent in the original form received to be applied as provided in <u>Section 2.4(c)</u> or <u>Section 2.4(d)</u>, as applicable (but subject to <u>Sections 2.4(f)</u> and <u>2.4(g))</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.10 <u>Collateral</u>**. All of the Obligations, including the Loans, shall be secured by a continuing security interest and Lien upon the Collateral.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.11 <u>Joint and Several Obligations</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All Obligations shall constitute joint and several obligations of Borrowers and shall be secured by Administrative Agent's security interest and Lien upon all of the Collateral. Each Borrower expressly represents and acknowledges that any financial accommodation by Administrative Agent or any Lender to any other Borrower hereunder and under the other Loan Documents are and will be of direct and indirect interest, benefit and advantage to all Borrowers. Each Borrower acknowledges that any notice given by any other Borrower to Administrative Agent or any Lender shall bind all Borrowers, and that any notice given by Administrative Agent or any Lender to any Borrower shall be effective with respect to all Borrowers. Each Borrower acknowledges and agrees that each Borrower shall be liable, on a joint and several basis, for the Loans and all other Obligations, regardless of which Borrower actually may have received the proceeds of the Loans or other extensions of credit or the amount of the Loans or other extensions of credit received or the manner in which Administrative Agent or any Lender accounts among Borrowers for the Loans or other Obligations on its books and records, and further acknowledges and agrees that the Loans and other extensions of credit to any Borrower inure to the mutual benefit of all of Borrowers and that each of Administrative Agent and Lenders is relying on the joint and several liability of Borrowers in extending the Loans and other financial accommodations under the Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Borrower shall be entitled to subrogation and contribution rights from and against the other Borrowers to the extent any Borrower is required to pay to Secured Creditors any amount in excess of the Loans directly to, or other Obligations incurred directly by, such Borrower or as otherwise available under applicable law; <u>provided</u>, <u>however</u>, that such subrogation and contribution rights are and shall be subject to the terms and conditions of <u>Sections 2.11(c)</u>, <u>2.11(d)</u>, <u>2.11(f)</u> and <u>2.11(g)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Borrower, and by its acceptance of this Agreement, each of Administrative Agent and Lenders hereby confirms that it is the intention of all such Persons that this Agreement and the Obligations of each Borrower hereunder not constitute a fraudulent transfer or conveyance for purposes of the Bankruptcy Code, the Uniform Fraudulent Conveyance Act (the "<u>UFCA</u>"), the Uniform Fraudulent Transfer Act (the "<u>UFTA</u>") or any other federal, state or foreign (including Canada) bankruptcy, insolvency, receivership or similar law to the extent applicable to this Agreement and the Obligations of each Borrower hereunder (collectively, the "<u>Avoidance Provisions</u>"). To effectuate the foregoing intention, each of Administrative Agent and Lenders, by its acceptance of this Agreement, and Borrowers hereby irrevocably agree that the Obligations of each Borrower under this Agreement at any time shall be limited to the maximum amount as will result in the Obligations of such Borrower under this Agreement not constituting a fraudulent transfer or conveyance (such Borrower's "<u>Maximum Borrower Liability</u>"). This <u>Section 2.11(c)</u> is intended solely to preserve the rights hereunder of Administrative Agent, each Lender and any other Person holding any of the Obligations to the maximum extent that would not cause the obligations of Borrowers hereunder to be subject to avoidance under any Avoidance Provisions, and none of Borrowers nor any other Person shall have any right, defense, offset, or claim under this <u>Section 2.11(c)</u> as against Administrative Agent, any Lender or any other Person holding any of the Obligations that would not otherwise be available to such Person under the Avoidance Provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) To the extent that any Borrower shall, under this Agreement, make a payment of a portion of the Obligations (each, an "<u>Obligor's Payment</u>"), then, without limiting its rights of subrogation against any Borrower, such Borrower shall be entitled to contribution and indemnification from, and be reimbursed by, each other Borrower and the other Guarantors (collectively, the "<u>Contributing Parties</u>") in an amount, for each such Contributing Party, equal to a fraction of such Obligor's Payment, the numerator of which fraction is such Contributing Party's Allocable Amount and the denominator of which is the sum of the Allocable Amounts of all of the Contributing Parties. As of any date of determination, the "<u>Allocable Amount</u>" of each Contributing Party shall be equal to the maximum amount of liability which could be asserted against such Contributing Party hereunder with respect to the applicable Obligor's Payment without (i) rendering such Contributing Party "insolvent" within the meaning of Section 101(31) of the Bankruptcy Code or Section 2 of either the UFTA or the UFCA, (ii) leaving such Contributing Party with unreasonably small capital, within the meaning of Section 548 of the Bankruptcy Code, Section 4 of the UFTA or Section 5 of the UFCA, or (iii) leaving such Contributing Party unable to pay its debts as they become due within the meaning of Section 548 of the Bankruptcy Code, Section 4 of the UFTA or Section 6 of the UFCA. Each Borrower's right of contribution shall be subject to the terms and conditions of <u>Sections 2.11(f)</u> and <u>2.11(g)</u>. The provisions of this <u>Section 2.11</u> shall in no respect limit the obligations and liabilities of any Borrower to any Secured Creditor, and each Borrower shall remain liable to each Secured Creditor for the full amount guaranteed by such Borrower hereunder. Notwithstanding the foregoing, no provision of this <u>Section 2.11(d)</u> shall limit any Borrower's liability for any portion of the Loans advanced directly or indirectly to it under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Each Borrower agrees that the Obligations may at any time and from time to time exceed the Maximum Borrower Liability of such Borrower and may exceed the aggregate Maximum Borrower Liability of all Borrowers hereunder, without impairing this Agreement or any provision contained herein or affecting the rights and remedies of any Secured Creditor hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) No Borrower will exercise any rights which it may acquire by way of subrogation hereunder or under any other Loan Document or at law by any payment made hereunder or otherwise, nor shall any Borrower seek or be entitled to seek any contribution or reimbursement from any other Borrower in respect of payments made by such Borrower hereunder or under any other Loan Document, until all amounts owing to Secured Creditors on account of the Obligations are paid in full in cash. If any amounts shall be paid to any Borrower on account of such subrogation or contribution rights at any time when all of the Obligations shall not have been paid in full, such amount shall be held by such Borrower in trust for Secured Creditors, segregated from other funds of such Borrower, and shall, forthwith upon receipt by such Borrower, be turned over to Administrative Agent, for the benefit of Secured Creditors, in the exact form received by such Borrower (duly endorsed by such Borrower to Administrative Agent, if required), to be applied against the Obligations, whether matured or unmatured, as provided for herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Nothing in this <u>Section 2.11</u> shall affect any Borrower's joint and several liability to Secured Creditors for the entire amount of its Obligations. Each Borrower covenants and agrees that its right to receive any contribution hereunder from a Borrower shall be subordinate and junior in right of payment to all obligations of Borrowers to Secured Creditors under the Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.12 <u>Taxes</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Defined Terms</u>. For purposes of this <u>Section 2.12</u>, the terms "applicable law" and "law" includes FATCA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Payments Free of Taxes</u>. Any and all payments by or on account of any obligation of any Obligor under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as determined in the good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Obligor shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this <u>Section 2.12</u>) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding been made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Payment of Other Taxes by Obligors</u>. Obligors shall timely pay to the relevant Governmental Authority in accordance with applicable law, or at the option of Administrative Agent timely reimburse it for the payment of, any Other Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Indemnification by Obligors</u>. Obligors shall jointly and severally indemnify each Recipient, (i) if an Event of Default exists, on demand, and (ii) otherwise, within [\*\*\*] days of demand, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this <u>Section 2.12</u>) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to Parent by a Lender (with a copy to Administrative Agent), or by Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Indemnification by Lenders</u>. Each Lender shall severally indemnify Administrative Agent, within [\*\*\*] days of demand, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that any Obligor has not already indemnified Administrative Agent for such Indemnified Taxes and without limiting the obligation of Obligors to do so), (ii) any Taxes attributable to such Lender's failure to comply with the provisions of <u>Section 11.6(d)</u> relating to the maintenance of a Participant Register and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by Administrative Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by Administrative Agent to the Lender from any other source against any amount due to Administrative Agent under this <u>Section 2.12(e)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Evidence of Payments</u>. As soon as practicable after any payment of Taxes by any Obligor to a Governmental Authority pursuant to this <u>Section 2.12</u>, such Obligor shall deliver to Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Status of Lenders</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document shall deliver to Parent and Administrative Agent, at the time or times reasonably requested by Parent or Administrative Agent, such properly completed and executed documentation reasonably requested by Parent or Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by Parent or Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by Parent or Administrative Agent as will enable Parent or Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in <u>Sections 2.12(g)(ii)(A)</u>, <u>2.12(g)(ii)(B)</u> and <u>2.12(g)(ii)(D)</u>) shall not be required if in such Lender's reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Without limiting the generality of the foregoing, in the event that any Borrower is a U.S. Borrower,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) any Lender that is a U.S. Person shall deliver to Parent and Administrative Agent on or about the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of Parent or Administrative Agent), executed copies of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup withholding tax;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to Parent and Administrative Agent (in such number of copies as shall be requested by the recipient) on or about the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of Parent or Administrative Agent), whichever of the following is applicable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the "interest" article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or IRS Form W-8BEN-E establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the "business profits" or "other income" article of such tax treaty;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) executed copies of IRS Form W-8ECI;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in form and substance reasonably satisfactory to Administrative Agent and Parent to the effect that such Foreign Lender is not a "bank" within the meaning of Section 881(c)(3)(A) of the Code, a "10 percent shareholder" of any Borrower within the meaning of Section 871(h)(3)(B) of the Code, or a "controlled foreign corporation" related to any Obligor described in Section 881(c)(3)(C) of the Code (a "<u>U.S. Tax Compliance Certificate</u>") and (y) executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) to the extent a Foreign Lender is not the beneficial owner, executed copies of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, IRS Form W-8BEN-E, a U.S. Tax Compliance Certificate, IRS Form W-9, or other certification documents from each beneficial owner, as applicable; <u>provided</u> that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate on behalf of each such direct and indirect partner;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to Parent and Administrative Agent (in such number of copies as shall be requested by the recipient) on or about the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of Parent or Administrative Agent), executed copies of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law to permit Parent or Administrative Agent to determine the withholding or deduction required to be made; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to Parent and Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by Parent or Administrative Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by Parent or Administrative Agent as may be necessary for Parent and Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender's obligations under FATCA or to determine the amount, if any, to deduct and withhold from such payment. Solely for purposes of this clause (D), "FATCA" shall include any amendments made to FATCA after the date of this Agreement.

Each Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify Parent and Administrative Agent in writing of its legal inability to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Treatment of Certain Refunds</u>. If any party determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this <u>Section 2.12</u> (including by the payment of additional amounts pursuant to this <u>Section 2.12</u>), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this <u>Section 2.12</u> with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this <u>Section 2.12(h)</u> (<u>plus</u> any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this <u>Section 2.12(h)</u>, in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this <u>Section 2.12(h)</u> the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This <u>Section 2.12(h)</u> shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Survival</u>. Each party's obligations under this <u>Section 2.12</u> shall survive the resignation or replacement of Administrative Agent or any assignment of rights by, or the replacement of, a Lender, and the repayment, satisfaction or discharge of all Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.13 <u>Mitigation Obligations; Replacement of Lenders</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Designation of a Different Lending Office</u>. If any Lender requires any Obligor to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to <u>Section 2.12</u>, then such Lender shall (at the request of Parent) use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to <u>Section 2.12</u> in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. Obligors hereby agree, jointly and severally, to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment within [\*\*\*] days of demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Replacement of Lenders</u>. If any Obligor is required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to <u>Section 2.12</u> and such Lender has declined or is unable to designate a different lending office in accordance with <u>Section 2.13(a)</u>, then Obligors may, at their joint and several expense and effort, upon notice to such Lender and Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, <u>Section 11.6</u> (if such Lender is a Tranche B Lender, such Lender shall be deemed to be a Tranche A Lender under <u>Section 11.6(b)</u> for purposes of this <u>Section 2.13(b)</u>), all of its interests, rights (other than its existing rights to payments pursuant to <u>Section 2.12</u>) and obligations under this Agreement and the related Loan Documents to an Eligible Assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); <u>provided</u> that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Borrowers shall have paid to Administrative Agent the assignment fee (if any) specified in <u>Section 11.6</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents from the assignee (to the extent of such outstanding principal and accrued interest and fees) or Borrowers (in the case of all other amounts);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) such assignment will result in a reduction in such compensation or payments thereafter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) such assignment does not conflict with applicable law; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) a Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling Borrowers to require such assignment and delegation cease to apply.

Each party hereto agrees that (x) an assignment required pursuant to this <u>Section 2.13(b)</u> may be effected pursuant to an assignment and assumption agreement described in <u>Section 11.6(b)(iii)</u> executed by Parent, Administrative Agent and the assignee and (y) the Lender required to make such assignment need not be a party thereto in order for such assignment to be effective and shall be deemed to have consented to an be bound by the terms thereof; <u>provided</u> that, following the effectiveness of any such assignment, the other parties to such assignment agree to execute and deliver such documents necessary to evidence such assignment as reasonably requested by the applicable Lender; and <u>provided</u>, <u>further</u>, that any such documents shall be without recourse to or warranty by the parties thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.14 <u>Borrower Representative</u>**. Each Borrower, by its execution of this Agreement, irrevocably appoints Parent to act on its behalf as its agent in relation to the Loan Documents and irrevocably authorizes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Parent on its behalf to supply all information concerning itself contemplated by this Agreement or any other Loan Document to Administrative Agent and Lenders and to give and receive all notices, instructions and other communications, to execute all certificates, to make such agreements and to effect the relevant amendments, supplements, variations and waivers capable of being given, made or effected by any Borrower, notwithstanding that they may affect such Borrower, without further reference to or the consent of such Borrower; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Administrative Agent and Lenders to give any notice, demand or other communication to such Borrower pursuant to the Loan Documents to Parent,

and in each case such Borrower shall be bound as though such Borrower itself had given the information, notices, instructions or other communications or executed the certificates, made the agreements or effected the amendments, supplements or variations, or received the relevant notice, demand or other communication.

Every act, omission, agreement, undertaking, settlement, waiver, amendment, supplement, variation, notice, instruction or other communication given, made or undertaken by Parent or given to Parent under any Loan Document on behalf of another Borrower (whether or not known to any other Borrower and whether occurring before or after such other Borrower became a Borrower under any Loan Document) shall be binding for all purposes on such Borrower as if such Borrower had expressly agreed, executed, made, given or concurred with it or received the relevant notice, demand or other communication. In the event of any conflict between any notices or other communications of Parent and any other Borrower, those of Parent shall prevail.

**SECTION 3. SECURITY**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1 <u>Grant of Security Interest</u>**. Each Obligor hereby unconditionally grants, assigns, and pledges to Administrative Agent, for the benefit of Secured Creditors, to secure the Obligations, a continuing lien on and security interest in such Obligor's right, title, and interest in and to the following, whether now owned or hereafter acquired or arising and wherever located (collectively, the "<u>Obligor Collateral</u>"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all Accounts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all Commercial Tort Claims;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) all Deposit Accounts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) all Equipment, Inventory, Fixtures and other Goods;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) all general intangibles (as such term is defined in the UCC), including Payment Intangibles, contract rights, rights to payment, rights arising under common law, statutes, or regulations, choses or things in action, goodwill (including the goodwill associated with any trademark), patents, trade names, trademarks, service marks, copyrights, blueprints, drawings, purchase orders, customer lists, industrial designs, other industrial or intellectual property or rights therein or applications therefor, whether under license or otherwise, programs, programming materials, blueprints, drawings, purchase orders, route lists, rights to payment and other rights under any royalty or licensing agreements, including intellectual property licenses, infringement claims, software, software source codes, computer programs, computer discs, computer tapes, literature, reports, catalogs, URLs and domain names, computer programs, information contained on computer disks or tapes, moneys due or recoverable from pension funds, pension plan refunds, pension plan refund claims, insurance premium rebates, tax refunds, tax refund claims, interests in a partnership or limited liability company which do not constitute a security under Article 8 of the UCC, all rights, powers, and remedies under the Organic Documents of the Person that issued such interests and any other personal property other than Commercial Tort Claims, money, Accounts, Chattel Paper, Deposit Accounts, goods, Investment Property, Negotiable Collateral, and oil, gas, or other minerals before extraction (collectively, "<u>General Intangibles</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) all securities (whether certificated or uncertificated), rights, powers, and remedies under the Organic Documents of the Person that issued such securities, securities accounts, commodity contracts and accounts, securities entitlements and other Investment Property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) all letters of credit, Letter-of-Credit Rights (whether or not evidenced by a writing) and other Supporting Obligations, notes, drafts, Instruments (including promissory notes), certificated and uncertificated Securities, Documents, leases and Chattel Paper (including Electronic Chattel Paper) (collectively, "<u>Negotiable Collateral</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the Books of such Obligor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) all of such Obligor's money or other assets of such Obligor that now or hereafter come into the possession, custody, or control of Administrative Agent or any Lender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) all other personal property; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) all substitutions, replacements, additions, accessions, proceeds, products to or of any of the foregoing, including proceeds of insurance covering any of the foregoing, or any portion thereof, and any and all Accounts, General Intangibles, Negotiable Collateral, Inventory, Equipment, Deposit Accounts, Commercial Tort Claims, Investment Property, money, deposits, accounts, or other tangible or intangible property resulting from the sale or other disposition of the Accounts, General Intangibles, Negotiable Collateral, Inventory, Equipment, Deposit Accounts, Commercial Tort Claims, Investment Property or any portion thereof or interest therein and the proceeds thereof.

Notwithstanding the foregoing, "Obligor Collateral" shall not include any of the following (collectively, the "<u>Excluded Assets</u>"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) Excluded Accounts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) fee or land contract interests in Real Property with a value less than the Threshold Amount and any leasehold interests;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) motor vehicles, solely to the extent a security interest thereon cannot be perfected pursuant the filing of UCC financing statements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) any assets or other property of Obligors that would otherwise be included as Collateral but for the express terms of applicable US State Cannabis Laws or other applicable law (other than to the extent that any such term would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor provision or provisions) of any relevant jurisdiction or any other applicable law or principles of equity), or the express terms of any applicable contract, instrument, document, or other agreement or any Permit, that, in each case, either (i) prohibit the grant to Administrative Agent of a security interest in and to such asset or other property or (ii) would cause such asset or other property to become void or voidable if a security interest therein was granted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) assets subject to Capitalized Lease Obligations, purchase money financing and cash to secure letters of credit reimbursement obligations, in each case, to the extent the Indebtedness secured is Permitted Indebtedness and the terms of such Permitted Indebtedness prohibit a grant of a security interest therein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) any "intent-to-use" application for registration of a Trademark filed in the United States Patent and Trademark Office pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. §1051, prior to the filing of a "Statement of Use" pursuant to Section 1(d) of the Lanham Act or an "Amendment to Allege Use" pursuant to Section 1(c) of the Lanham Act with respect thereto, solely to the extent, if any, that, and solely during the period, if any, in which the grant of a security interest therein would impair the validity or enforceability of any registration that issues from such intent-to-use application under applicable federal law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) Equity Interests in any Person not (i) wholly owned by an Obligor or (ii) not owned only by an Obligor and any Subsidiary or Affiliate thereof, in each case, to the extent a pledge thereof is not permitted by the terms of such Person's Organic Documents or applicable law, only so long as (x) such prohibition is not rendered ineffective by, or not rendered unenforceable under, any law, including applicable US Federal Cannabis Laws, applicable US State Cannabis Laws or other applicable law (including pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC) (or any successor provision or provisions) of any relevant jurisdiction or any other applicable law or principles of equity, or (y) such restriction applies to the grant of a security interest over the relevant assets or all relevant consents or approvals have not been obtained by such Obligor in respect of the grant of a security interest over such assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) those assets as to which Administrative Agent and Parent reasonably and mutually agree in writing that the cost of obtaining such a security interest or perfection thereof are excessive in relation to the benefit to Secured Creditors of the security to be afforded thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) Margin Stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) [\*\*\*]; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) any asset to the extent granting a security interest in such asset would result in a material adverse tax consequence to Obligors or their respective Subsidiaries, as reasonably determined by Parent and Administrative Agent;

<u>provided</u>, <u>however</u>, that Obligor Collateral shall include all proceeds of any assets or other property excluded from Collateral by the definition of Excluded Assets (unless such proceeds themselves constitute Excluded Assets); and <u>provided</u>, <u>further</u>, that immediately upon the repeal, waiver, voiding, invalidation, lapse, termination or other ineffectiveness of any agreement, restriction, condition or other encumbrance covering, or resulting in, any asset or other property of an Obligor constituting an Excluded Asset, the Obligor Collateral shall automatically include, and such Obligor shall be automatically deemed to have granted a security interest in, such Obligor's right, title and interest in and to such asset or other property, whether now owned or hereafter acquired or arising and wherever located, and such asset or other property shall no longer constitute an Excluded Asset.

Notwithstanding anything to the contrary contained herein or in any other Loan Document, (i) no Obligor shall be required to comply with the Federal Assignment of Claims Act (or any state or municipal equivalent), (ii) no Obligor shall be required to perfect a security interest in Fixtures (other than by central filing of a UCC financing statement or recordation of a Mortgage) and (iii) Administrative Agent shall not perfect any security interest on any asset or property of any Obligor granted herein to the extent and only for so long as the perfection of such security interest by Administrative Agent in its right, title and interest in such item of property (A) would give any other Person (other than such Obligor, any other Obligor, any Subsidiary of any Obligor, any Affiliate of any of the foregoing or any Person who has consented to such security interest) the right to terminate its obligations with respect to such item of property and such right is not rendered ineffective by, or is unenforceable under, applicable US State Cannabis Laws or other applicable law (other than to the extent that any such term would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor provision or provisions) of any relevant jurisdiction or any other applicable law or principles of equity), or (B) would cause such property to become void or voidable if a security interest therein was perfected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2 <u>Secured Indebtedness</u>**. The Lien and security interest granted hereunder shall secure the prompt payment of the Obligations and the prompt performance of each of the covenants and duties under this Agreement and the other Loan Documents. Each Obligor shall mark its Books as may be required by GAAP to reflect the existence of the Obligations and the Lien and security interest with respect thereto. Each Obligor shall promptly provide Administrative Agent with written notice of all Commercial Tort Claims of such Obligor in an aggregate amount reasonably estimated by such Obligor to be in excess of the Threshold Amount, such notice to contain the case title together with the applicable court and a brief description of the claim(s) acceptable to Administrative Agent. Upon delivery of each such notice, such Obligor shall be deemed to have granted to Administrative Agent, for the benefit of Secured Creditors, a security interest and Lien in and to such Commercial Tort Claims and all proceeds thereof without any further action by Obligors or Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3 <u>Perfection by Filing</u>**. Each Obligor hereby specifically authorizes Administrative Agent at any time and from time to time to file financing statements, continuation statements and amendments thereto that describe the Obligor Collateral as "all personal property of debtor," "all assets of debtor" or words to similar effect, and contain any other information required by Article 9 of the UCC for the sufficiency or filing office acceptance of any financing statement, continuation statement or amendment, including whether such Obligor is an organization, the type of organization and any organization identification number issued to such Obligor. Each Obligor agrees to furnish any of the foregoing information to Administrative Agent promptly upon request. Any such financing statements, continuation statements or amendments may, to the extent required by applicable law, be signed by Administrative Agent on behalf of any Obligor and may be filed at any time in any relevant jurisdiction. Each Obligor hereby irrevocably constitutes and appoints Administrative Agent and any officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of such Obligor and in the name of such Obligor or in its own name, from time to time in Administrative Agent's reasonable discretion, for the limited purpose of carrying out the terms of this <u>Section 3.3</u>. Each Obligor hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue hereof. All powers, authorizations and agencies contained in this <u>Section 3.3</u> are coupled with an interest and are irrevocable until all of the Obligations have been paid and satisfied in full. All Lender Expenses incurred by Administrative Agent in doing any of the foregoing shall be added to the Obligations, and shall be paid to Administrative Agent (i) if an Event of Default exists, on demand, and (ii) otherwise, within 30 days of demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4 <u>Perfection Other Than by Filing, Etc.</u>** At any time and from time to time, each Obligor shall take such steps as Administrative Agent may reasonably request for Administrative Agent to (a) use commercially reasonable efforts to obtain a Lien Waiver from any bailee having possession of any of the Obligor Collateral with an aggregate value in excess of the Threshold Amount that such bailee holds such Obligor Collateral for Administrative Agent, (b) subject to <u>Section 6.16</u>, obtain control of any Deposit Accounts or Securities Accounts (other than any Excluded Accounts) pursuant to a Controlled Account Agreement, (c) obtain control, as set forth in Article 9 of the UCC, of any Negotiable Collateral, Investment Property, Letter-of-Credit Rights or Electronic Chattel Paper pledged by such Obligor, and, where control is established by written agreement, such agreement shall be in form and substance satisfactory to Administrative Agent, in each case, to the extent the aggregate amount of the same is in excess of the Threshold Amount, (c) immediately discharge all Liens other than Permitted Liens and (d) otherwise to insure the continued perfection and priority of Administrative Agent's security interest in any of the Obligor Collateral and of the preservation of its rights therein. All Lender Expenses incurred by Administrative Agent in doing any of the foregoing, and any local taxes relating thereto, shall be added to the Obligations, and shall be paid to Administrative Agent (i) if an Event of Default exists, on demand, and (ii) otherwise, within [\*\*\*] days of demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5 <u>Preservation of Obligor Collateral</u>**. In addition to the rights and remedies set forth herein, and subject to the requirements of applicable US State Cannabis Laws, Administrative Agent: (a) may at any time take such steps as Administrative Agent deems reasonably necessary to protect Administrative Agent's interest in and to preserve the Obligor Collateral, including, so long as an Event of Default has occurred and is continuing, the hiring of such security guards or the placing of other security protection measures as Administrative Agent may deem appropriate; (b) so long as an Event of Default has occurred and is continuing, may employ and maintain at any of any Obligor's premises a custodian who shall have full authority to do all acts necessary to protect Administrative Agent's interests in the Obligor Collateral; (c) so long as an Event of Default has occurred and is continuing, may lease warehouse facilities to which Administrative Agent may move all or part of the Obligor Collateral; (d) so long as an Event of Default has occurred and is continuing, may use any Obligor's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Obligor Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Obligor Collateral is located, and may proceed over and through any of any Obligor's owned or leased property, subject to <u>Section 6.3</u> with respect to the matters described therein. If an Event of Default has occurred and is continuing, each Obligor shall cooperate fully with Administrative Agent's efforts to preserve the Obligor Collateral and will take such actions to preserve the Obligor Collateral as Administrative Agent may direct. All of Administrative Agent's Lender Expenses for preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be added to the Obligations, or, at Administrative Agent's option, shall be paid to Administrative Agent (x) if an Event of Default exists, on demand, and (y) otherwise, within 30 days of demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.6 <u>Other Actions as to Any and All Obligor Collateral</u>**. Each Obligor shall promptly (and in no event later than [\*\*\*] Business Days of acquiring or obtaining such Obligor Collateral) notify Administrative Agent in writing upon acquiring or otherwise obtaining any Obligor Collateral after the date hereof consisting of (a) Investment Property (other than Securities Accounts), Negotiable Collateral or intellectual property, in each case, with an aggregate value (unless such Investment Property is Equity Interests in a Subsidiary) in excess of the Threshold Amount or (b) Deposit Accounts and Securities Accounts (other than Excluded Accounts).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.7 <u>Equity Interests</u>**. For so long as any Obligor shall have the right to vote Equity Interests or other Investment Property constituting Collateral, such Obligor agrees that such Obligor shall not vote or take any consensual action with respect to such Collateral owned by such Obligor that would (a) materially adversely affect the rights of any Secured Creditor under the Loan Documents or the value of such Collateral or (b) directly or indirectly violate the terms of this Agreement.

**SECTION 4. CONDITIONS PRECEDENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1 <u>Closing Conditions</u>**. No Lender shall be obligated to advance any Loan hereunder unless each of the following conditions has been fulfilled, to the satisfaction of Administrative Agent, or waived, with the consent of Administrative Agent, on or before the date of such advance:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Borrower and each other Person that is to be a party to any Loan Document shall have executed and delivered each such Loan Document, including this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Borrowers shall cause to be delivered to Administrative Agent the following documents, each in form and substance satisfactory to Administrative Agent and, if applicable to such document, duly executed and delivered by the parties thereto:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) with respect to each Obligor, a certificate signed by the secretary or assistant secretary of such Person (or, in the case of a Person that is a partnership, the general partner of such Person or, in the case of a Person that is a limited liability company, the members or manager, as appropriate, of such Person), including a certificate of incumbency with respect to each Authorized Officer of such Person executing a Loan Document, together with appropriate attachments which shall include the following: (A) a copy of the certificate of formation of such Person certified to be true, complete and correct by the Secretary of State of the State of such Person's incorporation or formation; (B) a true, complete and correct copy of the other Organic Documents of such Person reflecting such amendments necessary in the opinion of Administrative Agent in connection with the Loan Documents or otherwise; (C) a true, complete and correct copy of the resolutions of such Person (or its general partner, members or manager, as applicable) authorizing the execution, delivery and performance by such Person of the Loan Documents to which such Person is a party and authorizing the borrowings hereunder; (D) certificates of good standing from such Person's jurisdiction of formation; and (E) if any, copies of all shareholders or share purchase agreements relating to the Equity Interests of such Person,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) an Information Certificate dated the Closing Date, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) such financial reports and information concerning any Obligor as Administrative Agent shall request;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Administrative Agent shall have received the results of a search of the UCC filings and equivalent filings, as applicable, in addition to tax Lien, judgment Lien, bankruptcy and litigation searches made with respect to the assets of each Guarantor (including those to be acquired pursuant to the MMT Acquisition), together with copies of the financing statements and other filings (or similar documents) disclosed by such searches, and accompanied by evidence satisfactory to Administrative Agent that the Liens disclosed in such searches are Permitted Liens or have been released or will be released substantially simultaneously with the making of the Loans hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Administrative Agent shall have received evidence that appropriate UCC financing statements (including fixture filings) or equivalent filings, as applicable, have been duly filed, or will be duly filed on the Closing Date, in such office or offices as may be necessary or, in the opinion of Administrative Agent, desirable, to perfect Administrative Agent's Liens in and to the Collateral;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Administrative Agent shall have received a final payoff letter and Lien termination documents from any Person whose outstanding loans to any Obligor are to be repaid, each in form and substance satisfactory to Administrative Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Administrative Agent shall have received assurances, satisfactory to it, that (i) no litigation and no investigation or audit by any Governmental Authority is pending or threatened against any Obligor which Administrative Agent determines may have a Material Adverse Effect or that would be a breach of any representation by an Obligor in any Loan Document, (ii) no breach or default (or event or condition, which after notice or lapse of time, or both, would constitute a breach or default) has occurred and is continuing under any Material Contract as a result of which a Material Adverse Effect could be reasonably expected to occur, and (iii) none of any Obligor's Material Cannabis Licenses have been suspended, revoked or non-renewed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) No Default or Event of Default shall exist (whether before or after giving effect to the funding of the Loans or other extension of credit);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) All of the representations and warranties of Obligors in each of the Loan Documents shall be true and correct in all material respects (unless any such representation or warranty is qualified as to materiality, Material Adverse Effect or similar language, in which case such representation and warranty shall be true and correct in all respects) at such time, both before and after giving effect to the application of the proceeds of the Loans;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Each of Administrative Agent and Lenders shall have received the approval of the Transactions from its investment committee or, as applicable, other primary credit authority;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) There shall have been no change which could have a Material Adverse Effect since November 13, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) All conditions precedent to the closing of the MMT Acquisition, other than the funding of the Loans on the Closing Date, shall have been satisfied or waived in accordance with the terms of the MMT Acquisition Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) All fees and Lender Expenses payable in accordance with this Agreement on or before the Closing Date (including Lender Expenses of Administrative Agent) shall have been paid to Administrative Agent, for the benefit of Secured Creditors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Administrative Agent and its counsel shall have completed their due diligence review, in each case, with outcomes satisfactory to Administrative Agent.

**SECTION 5. OBLIGORS' REPRESENTATIONS AND WARRANTIES**

To induce Administrative Agent and Lenders to enter into this Agreement and to extend credit, each Obligor makes the following representations and warranties, all of which shall be deemed made as of the Closing Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1 <u>Existence and Rights; Predecessors</u>**. The exact legal name of each Obligor is as set forth on the signature pages to this Agreement. Each Obligor is a corporation or limited liability company duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization and is duly qualified or licensed to transact business in all places where the failure to be so qualified could reasonably be expected to have a Material Adverse Effect. Each Obligor has the right and power to enter into and discharge all of its obligations under the Loan Documents to which it is a party. Each Loan Document to which any Obligor is a party constitutes a legal, valid and binding obligation of such Obligor, enforceable against it in accordance with its terms, subject only to bankruptcy and similar laws affecting creditors' rights generally, and each Obligor has the power, authority, rights and franchises to own its property and to carry on its business as presently conducted. Except as described in the Information Certificate dated the Closing Date, no Obligor has been a party to any merger, consolidation or acquisition of all or substantially all of the assets or Equity Interests of any other Person, or changed its legal status or the jurisdiction in which it is organized, during the five-year period prior to the Closing Date. No Obligor is engaged in the business of extending credit for the purpose of purchasing or carrying Margin Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2 <u>Authority</u>**. The execution, delivery and performance of the Loan Documents by each Obligor have been duly authorized by all necessary actions of such Person, do not and will not violate any material provision of law, or any writ, order or decree of any court or other Governmental Authority, or any provision of the Organic Documents of such Person, and do not and will not result in a material breach of, or constitute a material default or require any consent under, or result in the creation of any Lien upon any property or assets of such Person pursuant to, any law, regulation, instrument, document or agreement to which any such Person is a party or by which any such Person or its properties may be subject or bound. Each Obligor has obtained all Material Cannabis Licenses and all other material Permits, and such Material Cannabis Licenses and other material Permits are in full force and effect. None of such Material Cannabis Licenses or other material Permits is the subject of any pending or, to the best of each Obligor's knowledge, threatened attack or revocation, by the grantor of such Material Cannabis Licenses or other material Permits. No Obligor or any Subsidiary of an Obligor is required to obtain any additional material Permit in connection with the execution, delivery and performance of this Agreement or any other Loan Document, in accordance with their respective terms, or the consummation of the transactions contemplated hereby or thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.3 <u>Litigation</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as described in the Information Certificate dated the Closing Date, there is no action or proceeding pending, or, to the best of each Obligor's knowledge, threatened against any Obligor or any of its properties before any Governmental Authority as of the Closing Date, in each case, in which the amount in dispute exceeds the Threshold Amount, pursuant to which a liability of an Obligor exceeding the Threshold Amount would reasonably be expected to result or that is otherwise material, and no Obligor has any knowledge or belief of any pending or, to the best of each Obligor's knowledge, threatened governmental investigations or claims, complaints, actions or prosecutions involving any Obligor or its properties, in each case, in which the amount in dispute exceeds the Threshold Amount, pursuant to which a liability of an Obligor exceeding the Threshold Amount would reasonably be expected to result or that is otherwise material. Except as described in the Information Certificate dated the Closing Date, no Obligor is in default with respect to any order, writ, injunction, decree or demand of any Governmental Authority as of the Closing Date, in each case, in which the amount in dispute exceeds the Threshold Amount, pursuant to which a liability of an Obligor exceeding the Threshold Amount would reasonably be expected to result or that is otherwise material. None of the foregoing, individually or collectively, could reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No injunction, writ, temporary restraining order or any order of any nature has been issued by any Governmental Authority purporting to enjoin or restrain the execution, delivery or performance of this Agreement or any other Loan Document, or directing that the transactions provided for herein or therein not be consummated as herein or therein provided. No Obligor is the subject of a material audit by a Governmental Authority or, to the best of each Obligor's knowledge, any material investigation or review by a Governmental Authority concerning the violation or possible violation of any requirement of law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.4 <u>Solvency</u>**. Each Obligor and its Subsidiaries, taken as a whole, are, and after consummating the transactions described herein, including each advance of the Loans, will be, Solvent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.5 <u>Taxes</u>**. Each Obligor has filed all tax returns that it is required to file and has paid all Taxes shown on said returns as well as all Taxes shown on all assessments received by it to the extent that such Taxes are not being Properly Contested; neither any Obligor nor any assets of any Obligor is subject to any tax Liens; and no Obligor has received any notice of deficiency or other official notice to pay any Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.6 <u>Material Agreements</u>**. No Obligor is a party to any agreement or instrument that could reasonably be expected to result in a Material Adverse Effect. No Obligor is in material default in the performance, observance or fulfillment of any of its obligations, covenants or conditions contained in any Material Contract, including any Management Services Agreement or the MMT Acquisition Agreement. All Material Contracts to which any Obligor is a party were executed and delivered, and are being performed, in accordance with applicable law in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.7 <u>Title to Assets; Intellectual Property</u>**. Each Obligor has good, marketable and legal title to its material assets or leasehold title as to leased assets or rights as to licenses other than as described on Schedule 23 of the Information Certificate dated the Closing Date, and the same are not subject to any Liens other than Permitted Liens. The Liens of Administrative Agent on the Collateral are and shall be prior to any other Lien on the Collateral (except for Permitted Liens). Each Obligor possesses all necessary trademarks, trade names, copyrights, patents, patent rights and licenses to conduct business as now operated, without any known conflict with the rights of others. There is no infringement action, lawsuit, claim or complaint which asserts that any Obligor's operations violate or infringe the rights or the trade names, trademarks, trademark registrations, service names, service marks or copyrights of others with respect to any apparatus or method of such Obligor or any adversely held trade-marks, trade names, trademark registrations, service names, service marks or copyrights which would reasonably be expected to have a Material Adverse Effect, and no Obligor is in any way making use of any confidential information or trade secrets of any Person, except with the consent of such Person or which would not reasonably be expected to have a Material Adverse Effect. Each Obligor has taken commercially reasonable steps to protect its (a) computer programming language, software, hardware, firmware or related documentation, inventions, technical and nontechnical data related thereto, and (b) other documentation, inventions and data related to patterns, plans, methods, techniques, drawings, finances, customer lists, suppliers, products, special pricing and cost information, designs, processes, procedures, formulas, research data owned or used by such Obligor or marketing studies conducted by such Obligor. Each Obligor is the lawful owner or licensee of its commercially important and competitively sensitive intellectual property, free and clear of any material claim of any third party (other than any applicable licensor).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.8 <u>Compliance With Laws; Absence of Default</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Obligor, and its properties, business, operations and leaseholds, are in compliance in all material respects with all applicable laws, including all applicable US State Cannabis Laws, and all of the provisions of its Organic Documents, and no event has occurred or has failed to occur which has not been remedied or waived, the occurrence or non-occurrence of which constitutes (i) a Default or an Event of Default or (ii) a default under any Material Contract that would reasonably be expected to result in a liability of an Obligor exceeding the Threshold Amount or that is otherwise material. No Obligor is engaged in any Restricted Cannabis Activities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Obligor holds all Permits that are required by any Governmental Authority (excluding those United States federal authorities that may enforce or interpret any laws or regulations or the like, so as to prevent or materially restrict the business of any Obligor, or any laws or regulations that apply to cannabis) to permit it to conduct and operate any Obligor's or its respective Subsidiaries' business in the Ordinary Course of Business pursuant to any applicable requirement of law. Each of the Material Cannabis Licenses and other material Permits of Obligors and their respective Subsidiaries (i) is lawfully, truly and exclusively held or owned by Obligors or any of their respective Subsidiaries, (ii) is valid and in full force and effect in all material respects, (iii) is free and clear of all Liens other than Permitted Liens, (iv) has neither been revoked nor is in the process of being revoked by any Governmental Authority and (v) has no threatened or pending process that would result in its loss, termination, suspension, withdrawal, revocation or expiration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Obligor and each Subsidiary of an Obligor is in material compliance with all laws and regulations pertaining to any and all Material Cannabis Licenses and other material Permits. Neither any Obligor nor any Subsidiary of an Obligor is a party to, or the subject of, any investigation, notice of apparent liability, violation, forfeiture, or other order or complaint issued by or before any Governmental Authority or any other proceedings which could, in any manner, threaten or adversely affect the validity or continued effectiveness of any Material Cannabis License or other material Permit of any Obligor or any Subsidiary of an Obligor, or give rise to any order of forfeiture of any of the foregoing. There is no pending or, to the best of each Obligor's knowledge, threatened cancellation, loss, termination, modification or nonrenewal of any Material Cannabis License or other material Permit of any Obligor or any Subsidiary of an Obligor, or, to the best of each Obligor's knowledge, any valid basis for such cancellation, loss, termination, modification or nonrenewal. Obligors have no reason to believe that any Material Cannabis License or other material Permit will not be renewed in the ordinary course, or that such renewed Material Cannabis License or other material Permit would be materially different than the corresponding existing versions of such. Each Obligor and each Subsidiary of an Obligor has filed, in a timely manner, all material reports, applications, documents, instruments, and information required to be filed pursuant to applicable rules and regulations or requests of every regulatory body having jurisdiction over any of its Material Cannabis Licenses or other material Permits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Obligors and their respective Subsidiaries have each made all necessary or required disclosures of this Agreement, the other Loan Documents and the transactions contemplated hereby and thereby to any Governmental Authority that has issued any Obligor a Material Cannabis License or other material Permit as and when required pursuant to applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.9 <u>Business and Collateral Locations</u>**. Each Obligor's chief executive office, principal place of business, office where such Obligor's business records are located and all other places of business of such Obligor as of the Closing Date are as described in the Information Certificate dated the Closing Date; and except as otherwise described in such Information Certificate, none of the Collateral is in the possession of any Person other than an Obligor, an institution at which a Deposit Account, Securities Account or Commodity Account is maintained or, to the extent permitted hereunder, any other Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.10 <u>ERISA</u>**. Except as described in Schedule 14 of the Information Certificate dated the Closing Date, no Obligor has any Plans as of the Closing Date. No Plan established or maintained by any Obligor has or is expected to have a accumulated funding deficiency (as such term is defined in Section 302 of ERISA), and no liability to the Pension Benefit Guaranty Corporation is expected by any Obligor to be, incurred with respect to any such Plan by such Obligor, except, in each case, as would not reasonably be expected to have a Material Adverse Effect. No Obligor is required to contribute to or is failing to contribute to a Plan or has any withdrawal liability to any Plan, except, in each case, as would not reasonably be expected to have a Material Adverse Effect. No Reportable Event has occurred that has resulted or could result in liability of any Obligor, and no Obligor has any reason to believe that any other event has occurred that has resulted or could reasonably be expected to result in liability of such Obligor, except, in each case, as would not reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.11 <u>Labor Relations</u>**. Except as disclosed in Schedule 15 of the Information Certificate dated the Closing Date, neither any Obligor nor any of its Subsidiaries is a party to or bound by any collective bargaining agreement, management agreement or consulting agreement. On the Closing Date, there are no material grievances, disputes or controversies with any union or any other organization of the employees of any Obligor or any Subsidiary of any Obligor, or, to the best of each Obligor's knowledge, any threats of strikes, work stoppages or any asserted pending demands for collective bargaining by any union or organization. Each Obligor is in material compliance with all federal and state laws respecting employment and employment terms, conditions and practices. The operations of each Obligor and each Subsidiary of each Obligor are conducted in compliance, in all material respects, with all applicable rules and regulations promulgated by the Occupational Safety and Health Administration of the United States Department of Labor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.12 <u>Anti-Corruption Laws and Sanctions</u>**. Obligors and their respective Subsidiaries have instituted and maintain policies and procedures reasonably designed to ensure compliance with applicable Sanctions. Each Obligor, its Subsidiaries and their respective officers and directors and, to the best of each Obligor's knowledge, its employees and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects. None of any Obligor, any Subsidiary thereof or any of their respective directors, officers or, to the best of each Obligor's knowledge, employees is a Sanctioned Person. No borrowing of any Loan, the use of any proceeds thereof or any other Transaction will violate Anti-Corruption Laws or applicable Sanctions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.13 <u>Investment Company Act</u>**. Neither any Obligor nor any of their respective Subsidiaries is an "investment company" as defined in, or subject to regulation under, the Investment Company Act of 1940.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.14 <u>Accuracy and Completeness of Information</u>**. All written information, reports, other papers and data relating to Obligors and their respective Subsidiaries furnished by or at the direction of any Obligor to Administrative Agent or any Lender were, at the time furnished, complete and correct in all material respects when taken as a whole and none contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading as of the time when made or delivered, when taken as a whole. All financial statements provided to Administrative Agent or any Lender fairly present the financial position and results of operations of each Obligor as at the respective dates thereof when taken as a whole and for the periods therein referred to and are consistent with the books and records of such Obligor when taken as a whole. No fact is currently known to any Obligor which has, or could reasonably be expected to have, a Material Adverse Effect. With respect to projections, estimates and forecasts given to Administrative Agent or any Lender, such projections, estimates and forecasts are based on Obligors' good faith assessment of the future of the business at the time made and when taken as a whole, and Obligors had a reasonable basis for such assessment at the time made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.15 <u>Compensation of Officers and Employees</u>**. To the extent requested, the compensation paid to each officer of each Obligor for the 12-calendar month period ending on the last day of the calendar month immediately preceding the calendar month in which the Closing Date occurs, including salaries, withdrawals, fees, bonuses, commissions, profits distributions, drawing accounts and other payments, has been disclosed to Administrative Agent prior to the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.16 <u>Environmental Matters</u>**. Neither any Obligor nor any of its Subsidiaries has generated, used, stored, treated, transported, manufactured, handled, produced or disposed of any Hazardous Materials, on or off its premises (whether or not owned by it) in any manner which at any time violates in any material respect any Environmental Law or any material Permit or similar authorization thereunder and the operations of each of Obligors and their respective Subsidiaries comply in all material respects with all Environmental Laws and all material Permits and similar authorizations thereunder. There has been no investigation, proceeding, complaint, order, directive, claim, citation or notice by any Governmental Authority or any other Person, nor is any pending or, to the best of each Obligor's knowledge, threatened with respect to any non-compliance with or violation of the requirements of any Environmental Law by any Obligor or any of its Subsidiaries or the Release, threatened or actual, of any Hazardous Materials or the generation, use, storage, treatment, transportation, manufacture, handling, production or disposal of any Hazardous Materials or any other environmental, health or safety matter, which affects any Obligor, any Subsidiary thereof or the business, operations or assets thereof or any properties at which any Obligor or any of its Subsidiaries has transported, stored or disposed of any Hazardous Materials. Neither any Obligor nor any Subsidiary thereof has any Environmental Liability that, individually or collectively, exceeds the Threshold Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.17 <u>Material Adverse Effect</u>**. There has been no Material Adverse Effect since November 13, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.18 <u>No Contractual Defaults</u>**. <u>Schedule 18</u> of the Information Certificate dated the Closing Date sets forth all Material Contracts to which any Obligor is a party or by which any Obligor is bound as of the Closing Date, true, correct and complete copies of which have been delivered by Obligors to Administrative Agent on or before the Closing Date. There are no defaults by any Obligor or, to the best of each Obligor's knowledge, by any other Person under any Material Contract, and no event has occurred which, but for the passage of time or the giving of notice or both, would constitute a default by any Obligor or, to the best of each Obligor's knowledge, by any other Person under any Material Contract, other than, in each case, defaults which do not have, and could not reasonably be expected to have, a Material Adverse Effect. Neither any Obligor nor, to the best of each Obligor's knowledge, any other Person, has received written notice or has any knowledge of any existing circumstances in respect of which it could receive any notice of default or breach in any material respect of any Material Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.19 <u>No Reliance</u>**. Each Obligor acknowledges, represents, and warrants that it understands the nature and structure of the transactions contemplated by this Agreement and the other Loan Documents, that it is familiar with the provisions of all of the documents and instruments relating to such transactions, that it understands the risks inherent in such transactions and that it has not relied on Administrative Agent or any Lender for any guidance or expertise in analyzing the financial or other consequences of the transactions contemplated by this Agreement or any other Loan Document or otherwise relied on Administrative Agent or any Lender in any manner in connection with interpreting, entering into, or otherwise in connection with this Agreement, any other Loan Document, or any of the matters contemplated hereby or thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.20 <u>Information Certificate</u>**. All of the representations and warranties in the Information Certificate are true and accurate on the Closing Date.

**SECTION 6. AFFIRMATIVE COVENANTS**

Until payment in full of the Obligations, each Obligor shall, unless Administrative Agent otherwise agrees in its discretion:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1 <u>Maintenance of Rights and Properties</u>**. Maintain and preserve all material rights, franchises, Permits, privileges and other authority adequate for the conduct of its business; maintain its properties, equipment and facilities in good order and repair, working order and condition; conduct its business in an orderly manner without voluntary interruption; maintain and preserve its existence (other than as permitted by <u>Section 7.1</u> or <u>7.4(b)</u>); and qualify and remain qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification or authorization, except where the failure to be so qualified would not reasonably be expected to have a Material Adverse Effect. Except as otherwise permitted by this Agreement, each Obligor shall (a) remain the sole and lawful owner or lessee of, and in possession of, its assets, (b) use its assets only in or related to its trade or business, (c) use and maintain its assets only in compliance in all material respects with all applicable laws, including all Environmental Laws and US State Cannabis Laws, and all insurance policies, and (d) upon Administrative Agent's reasonable request, affix plates, tags or other identifying labels to the Collateral showing ownership thereof by the applicable Obligor and Administrative Agent's security interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2 <u>Insurance</u>**. In addition to the insurance required by the Loan Documents with respect to the Collateral, maintain, on behalf of itself and its Subsidiaries, (a) insurance with respect to its properties and business against such casualties and contingencies of such type (including product liability, workers' compensation, larceny, embezzlement or other criminal misappropriation insurance) and in such amounts and with such coverages, limits and deductibles as is customary in the business of such Obligor and its Subsidiaries, and (b) business interruption insurance in such amounts and with such coverages, limits and deductibles as is customary in the business of such Obligor and its Subsidiaries; <u>provided</u>, <u>however</u>, that all such insurance, including all coverages, limits and deductibles, shall be reasonably acceptable to Administrative Agent. All such insurance policies shall name Administrative Agent as additional insured or lender loss payee, as the case may be. Each Obligor shall deliver certificates of insurance evidencing that the required insurance is in force, together with satisfactory additional insured or lender loss payee, as the case may be, endorsements. Each policy of insurance or endorsement shall contain, unless Administrative Agent agrees otherwise, in its reasonable discretion, a clause requiring the insurer to give not less than 30 days prior written notice to Administrative Agent in the event of cancellation or modification of the policy for any reason whatsoever other than non-payment of premiums, in which case 10 days prior written notice is acceptable, and, if requested by Administrative Agent, a clause that the interest of Administrative Agent shall not be impaired or invalidated by any act or neglect of any Obligor or owner of the Collateral nor by the occupation of the premises for purposes more hazardous than are permitted by said policy. If any Obligor fails to provide and pay for such insurance, Administrative Agent may, at Obligors' expense, procure the same, but shall not be required to do so. Each Obligor agrees to deliver to Administrative Agent, promptly as rendered, true copies of all reports made by any Obligor in any reporting forms to insurance companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.3 <u>Visits and Inspections</u>**. Permit representatives of Administrative Agent and, if an Event of Default has occurred and is continuing, each Lender to: visit and inspect properties of each Obligor and each of its Subsidiaries; inspect, audit and make extracts from the Books of any Obligor and the books of its Subsidiaries, including all records relating to any Collateral; conduct field examinations and appraisals; and discuss with its officers, employees and independent accountants such Obligor's and its Subsidiary's businesses, assets, liabilities, financial positions, results of operations and business prospects; <u>provided</u>, <u>however</u>, that, unless an Event of Default exists, the foregoing shall be conducted during normal business hours and upon reasonable prior notice to Obligors; and <u>provided</u>, <u>further</u>, that upon the request of Administrative Agent if an Event of Default has occurred and is continuing, Obligors shall assemble, deliver or otherwise make available to Administrative Agent, at a location to be determined by Administrative Agent, all Books of any Obligor and any other Collateral requested by Administrative Agent. This Agreement shall constitute Obligors' authorization to its accountants to discuss Obligors' affairs, finances and accounts with such representatives of Administrative Agent <u>provided</u> that, unless an Event of Default exists, such Obligor is given an opportunity for a representative of such Obligor to be present. In addition to the foregoing, Administrative Agent may, at its option if an Event of Default has occurred and is continuing, from time to time obtain a quality of earnings report with respect to Obligors. Notwithstanding the foregoing or anything herein to the contrary, nothing contained in this <u>Section 6.3</u> shall require Obligors to violate any provision of applicable US State Cannabis Laws or any other applicable law or any applicable confidentiality requirement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.4 <u>Taxes, other Obligations, Etc.</u>** (a) File all tax returns and appropriate schedules thereto that are required to be filed under applicable law, prior to the date of delinquency, including any permissible extensions, and (b) pay and discharge, before the same shall become delinquent or in default, its obligations, including Taxes and nongovernmental levies or charges resulting from covenants, conditions, and restrictions affecting its assets which are assessed or imposed upon such assets or become due and payable, except, in each case, (i) to the extent that the validity or amount thereof is being Properly Contested or (ii) such failure to file, pay or discharge could not reasonably be expected to result in a Material Adverse Effect. Administrative Agent may, at its option, from time to time, discharge any Taxes or Liens on any of the Collateral that are delinquent, and Obligors will pay to Administrative Agent on demand or Administrative Agent in its discretion may charge to Borrowers all amounts so paid or incurred by Administrative Agent to the Loan Account, and such amounts paid or incurred by Administrative Agent shall constitute Obligations secured by the Collateral. If requested by Administrative Agent, the applicable Obligor shall provide proof of payment or, in the case of withholding or other employee taxes, deposit required by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.5 <u>Financial Statements and Other Information</u>**. Keep accurate and complete records and books of account with respect to its business activities in which proper entries are made in accordance with GAAP; and prepare or furnish, or cause to be prepared or furnished to Administrative Agent and Lenders the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) within 45 days after the end of the first, second and third fiscal quarters of each Fiscal Year and within 90 days after the end of the fourth fiscal quarter of each Fiscal Year, company-prepared consolidated financial statements of Obligors and their respective Subsidiaries, including a balance sheet and statements of income, retained earnings and cash flow, and a comparison against budget for such period, in a form reasonably acceptable to Administrative Agent and certified by a Financial Officer of Borrower Representative;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) within 120 days after the end of each Fiscal Year, company-prepared consolidated financial statements of Obligors and their respective Subsidiaries, including a balance sheet and statements of income, retained earnings and cash flow, and a comparison against budget for such Fiscal Year, in a form reasonably acceptable to Administrative Agent and certified by a Financial Officer of Borrower Representative as prepared in accordance with GAAP and fairly presenting the consolidated financial position and results of operations of Obligors and their respective Subsidiaries for such Fiscal Year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) no later than 60 days after the beginning of each Fiscal Year, Obligors' 12-month forward-looking financial budget (including a balance sheet, an income statement, a statement of cash flows, a projection of Capital Expenditures and a demonstration of pro forma Financial Covenant compliance), presented in a month-by-month format, for such Fiscal Year, with written certification signed by a Financial Officer of Borrower Representative indicating approval thereof by the Board of each Obligor, which shall include the assumptions used therein, together with appropriate supporting details as reasonably requested by Administrative Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) no later than [\*\*\*] Business Days after the date of receipt or transmission thereof, copies of all communications to and from applicable Governmental Authorities, including the Internal Revenue Service, the Federal Communications Commission, the Pension Benefit Guaranty Corporation, the Environmental Protection Agency and the Securities Exchange Commission, regarding notice of any material enforcement proceeding, material complaint, material inspection or related matter addressed to any Borrower, any other Obligor or any Subsidiary thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) no later than [\*\*\*] Business Days after obtaining knowledge thereof, (i) any notice of any proposed amendment to, or revocation or reduction of, or information concerning the status or renewal of, any Material Cannabis License (including information that such Material Cannabis License may not be renewed or that any renewed Material Cannabis License will be different than any existing Material Cannabis License, any change in applicable laws affecting the legality or validity of any existing Material Cannabis License, and evidence of the timely payment of all necessary fees and other payments to any Governmental Authority with respect thereto), (ii) copies of any written materials and all other details associated therewith, (iii) any additional diligence or actions suggested by any geotechnical or environmental firm to Obligors with respect to any Real Property subject to a Mortgage and (iv) copies of all reports, Phase IIs and other information obtained in connection with such additional diligence and actions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) concurrently with the delivery of the financial statements described in <u>Section 6.5(a)</u>, if applicable, a supplement to the applicable Information Certificate reflecting any changes to the information in Schedule 22 of such Information Certificate, <u>provided</u> that such delivery shall not be construed to constitute (i) consent by Administrative Agent to any transaction not expressly permitted by the terms of this Agreement or (ii) the cure or waiver of any Default or Event of Default disclosed pursuant to any such update;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) within [\*\*\*] Business Days of a request therefor by Administrative Agent, to the extent available, (i) a copy of the federal and state income tax returns of each Obligor for the most recently completed tax year, together with all schedules, supporting documentation and amendments, all in the form filed with the Internal Revenue Service or such analogous state Governmental Authority and (ii) in the event an Obligor shall file an application for extension of the time to file an income tax return with respect to any such tax return, a copy of such application;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) within [\*\*\*] Business Days after the occurrence of any event hereinafter described, (i) copies of all material documents filed with any court with respect to any litigation in which the amount in dispute exceeds the Threshold Amount, pursuant to which a liability of an Obligor exceeding the Threshold Amount would reasonably be expected to result or that is otherwise material, (ii) written notice of the occurrence of any Default or any Event of Default, including a reasonably detailed description thereof and the applicable Obligor's proposed corrective action with respect thereto, (iii) written notice of receipt of any notice of any material violation of any laws or regulations received from any Governmental Authority, along with the applicable Obligor's proposed corrective action as to such violation, (iv) written notice of receipt of any notice of any material violation of any Material Contract, along with the applicable Obligor's proposed corrective action as to such violation, (v) written notice of the occurrence of any development that results in, or could reasonably be expected to result in, a Material Adverse Effect, and (vi) written notice of the filing or commencement of any action, suit or other proceeding against, or any demand for arbitration against or affecting any Obligor that involves an amount in excess of the Threshold Amount or which, if adversely determined, could reasonably be expected to result in a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) within [\*\*\*] days of the occurrence of any event hereinafter described, certified copies of all amendments to the Organic Documents of any Obligor (<u>provided</u>, <u>however</u>, that Obligors must comply with <u>Section 7.1</u> with respect to any such amendment); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) from time to time and promptly (and in any event within [\*\*\*] Business Days of) upon each request from Administrative Agent or any Lender, as the case may be, (i) such data, certificates, reports, statements, documents or further information regarding the business, assets, liabilities, financial position, projections, results of operations, condition, business prospects or ownership of Obligors, or any of them, as Administrative Agent may reasonably request, and (ii) such information and documentation reasonably requested by Administrative Agent or any Lender for purposes of compliance with applicable "know your customer" and anti-money laundering rules and regulations, including the PATRIOT Act.

Concurrently with the delivery of the financial statements described in <u>Sections 6.5(a)</u> and <u>6.5(b)</u>, or more frequently if requested by Administrative Agent during any period that an Event of Default exists, Borrowers shall cause to be prepared and furnished to Administrative Agent a Compliance Certificate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.6 <u>Compliance with Laws and Agreements; Hazardous Materials</u>**. Comply in all material respects with all applicable laws (including the PATRIOT Act, Anti-Corruption Laws, ERISA, all securities laws and all Environmental Laws and all US State Cannabis Laws) and all other laws regarding the collection, payment and deposit of Taxes, comply in all material respects with all Material Contracts to which such Obligor is a party or by which such Obligor or any of its properties is bound and obtain and keep in full force and effect any and all Material Cannabis Licenses and other material Permits and all governmental approvals necessary for the ownership of its properties or the conduct of its business. Other than those necessary to operate Obligors' business, no Obligor nor any Subsidiary thereof shall engage in the storage, manufacture, disposition, processing, handling, use or transportation of any Hazardous Materials, whether or not in compliance with applicable laws and regulations. Obligors and their respective Subsidiaries shall maintain policies and procedures reasonably designed to ensure compliance with applicable Sanctions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.7 <u>Financial Covenants</u>**. Comply with the following covenants:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Total Leverage Ratio</u>. Commencing with the fiscal quarter ending June 30, 2026, maintain at all times a Total Leverage Ratio, tested at the end of each fiscal quarter based upon the Applicable Fiscal Period ending on such date, of not more than 5.00 to 1.00.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Minimum Liquidity</u>. Obligors shall not permit Liquidity to be less than $1,000,000 at any time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.8 <u>Lien Waivers and Collateral Assignments of Lease</u>**. Use commercially reasonable efforts to obtain from the appropriate Person or Persons, with respect to any Real Property not owned by an Obligor in fee on which Collateral with a value in excess of the Threshold Amount is or may be located from time to time, a Lien Waiver and, if the consent of the applicable landlord is not required in connection therewith, a Collateral Assignment of Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.9 <u>Controlled Accounts</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Take all steps to ensure that all of its Account Debtors and other Persons obligated to make payments to such Obligor forward all items of payment to a Deposit Account that is not an Excluded Account, and in no event shall any Obligor direct any Account Debtor to forward any item of payment to any account other than a Deposit Account that is not an Excluded Account. All Deposit Accounts (other than Excluded Accounts) shall, subject to <u>Section 6.16</u>, be a Controlled Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event that any Obligor shall at any time receive any remittances of any of the foregoing directly or shall receive any other funds representing proceeds of the Collateral, hold the same as trustee for Administrative Agent and shall promptly deposit the same into a Deposit Account that is not an Excluded Account. All cash, cash equivalents, checks, notes, drafts or similar items of payment (including from the sale of any assets or constituting insurance or condemnation proceeds) received by any Obligor shall be deposited into a Deposit Account that is not an Excluded Account promptly upon (and in any event within one Business Day of) receipt thereof by such Obligor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.10 <u>Products and Services Warranty</u>**. Grow and manufacture, and provide all services, in conformity with all Material Contracts and all express or implied warranties and ensure no such products or services contain any material latent defects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.11 <u>Use of Proceeds</u>**. In addition to the exchange of certain Tranche A Loans and Tranche B Loans for certain obligations owed to Commitment Party under the Restructuring Support Agreement as described in <u>Section 2.2(c</u>), use the proceeds of (a) the Tranche A Loans only (i) to repay in full the Star Buds Claims Indebtedness and the obligations relating thereto, (ii) to pay Transaction Expenses (including Lender Expenses) and (iii) to the extent of any remaining proceeds after application pursuant to the immediately foregoing clauses (i) and (ii), for working capital and general corporate purposes of Obligors, and (b) the Tranche B Loans only (i) to pay Transaction Expenses (including Lender Expenses) and (ii) to the extent of any remaining proceeds after application pursuant to the immediately foregoing clause (i), for working capital and general corporate purposes of Obligors, in each case with respect to the foregoing clauses (a) and (b) of this <u>Section 6.11</u>, to the extent consistent with the terms of the Loan Documents and applicable law. No proceeds received pursuant to this Agreement will be used to purchase or carry any Margin Stock. No Obligor shall request the borrowing of the Loans, and no Obligor shall use, and shall ensure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of the Loans (x) in furtherance of a direct or, to the best of each Obligor's knowledge, indirect offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (y) for direct or, to the best of each Obligor's knowledge, indirect purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, except to the extent permitted for a Person required to comply with Sanctions, or (z) in any manner that would result in the direct or, to the best of each Obligor's knowledge, indirect violation of any Sanctions applicable to any party hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.12 <u>Further Assurances</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Take such further actions as Administrative Agent shall reasonably request from time to time in connection herewith to evidence, give effect to or carry out this Agreement and the other Loan Documents and any of the transactions contemplated hereby or thereby. Promptly after Administrative Agent's request therefor, each Obligor shall execute or cause to be executed and delivered to Administrative Agent such instruments, assignments, or other documents as are necessary or desirable under the UCC or other applicable law to protect or perfect (or continue the perfection of) Administrative Agent's Liens upon the Collateral. In furtherance of the foregoing, each Obligor agrees to take such further actions as Administrative Agent shall request to perfect and maintain a first-priority Lien (subject to any Permitted Lien applicable to Real Property) in any fee or (if a Lien can be granted thereunder) land contract interests to which any Obligor is a party to the extent such fee or land contract interest has a value in excess of the Threshold Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) (i) Cause each other Person, upon such other Person becoming a Subsidiary of such Obligor (<u>provided</u> that this <u>Section 6.12(b)</u> shall not be construed to constitute consent by Administrative Agent to any transaction not expressly permitted by the terms of this Agreement), within [\*\*\*] days (or such longer period of time to which Administrative Agent may agree in its discretion) to join this Agreement as an Obligor (as a Borrower or a Guarantor, at the option of Administrative Agent), guaranty the Obligations and grant to Administrative Agent, for the benefit of Secured Creditors, a security interest in the real, personal and mixed property of such Subsidiary to secure the Obligations to the extent such property does not constitute Excluded Assets, (ii) pledge, or cause to be pledged, to Administrative Agent all of the Equity Interests of such Subsidiary to secure the Obligations to the extent such property does not constitute Excluded Assets, (iii) execute or deliver such other agreements and documents requested by Administrative Agent, including an Information Certificate, and (iv) use commercially reasonable efforts to obtain Lien Waivers and Collateral Assignments of Lease in accordance with <u>Sections 3.4</u> and <u>6.8</u>, as applicable; <u>provided</u>, <u>however</u>, [\*\*\*].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) To the extent commercially reasonable, cooperate with any Lender that is a "real estate investment trust" within the meaning of 856 of the Code with respect to amending, supplementing or otherwise modifying any Loan Documents in connection with any actions or modification not adverse to Borrowers in any material respect necessary or advisable to maintain such Lender's status as such.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.13 <u>After-Acquired Real Property</u>**. Upon the acquisition by any Obligor of any fee or (if a Lien can be granted thereunder) land contract interest in any Real Property with a value in excess of the Threshold Amount as determined by Obligor in good faith as of the date of such acquisition, including pursuant to the acquisition of a Subsidiary, after the date hereof, promptly (and in any event within [\*\*\*] Business Days) notify Administrative Agent of such acquisition, and Administrative Agent shall notify such Obligor whether it intends to require a Mortgage (and any other Real Property deliverables) with respect to such new Real Property. Upon receipt of such notice requesting a Mortgage (and any other Real Property deliverables), the Person that has acquired such new Real Property shall promptly, but in any event within [\*\*\*] days (or such longer period of time to which Administrative Agent may agree in its discretion), furnish the same to Administrative Agent, along with, in each case, in form and substance satisfactory to Administrative Agent, (a) an appraisal of the applicable Mortgaged Property by an independent appraiser selected by Administrative Agent, with each such appraisal being procured at Borrowers' expense (<u>provided</u>, <u>however</u>, that Administrative Agent may elect to obtain its own appraisal at Borrowers' expense), (b) a Title Policy, or marked commitment therefor with respect to such Mortgaged Property, without a survey or other exception unless reasonably acceptable to Administrative Agent, (c) a current ALTA survey of such Mortgaged Property, reasonably satisfactory in form and substance to Administrative Agent and, if any, the title insurance company issuing each Title Policy (or unconditional binding commitments thereof) referenced in clause (b) above, which is prepared by a licensed surveyor reasonably satisfactory to Administrative Agent, (d) an environmental site assessment for such Mortgaged Property, (e) an Environmental Indemnity Agreement, (f) a zoning report, zoning conformation from the applicable Governmental Authority or similar document for such Mortgaged Property, in each case, confirming such Real Property is zoned for the business conducted by the applicable Obligor on such Real Property and (g) if such Mortgaged Property is in a flood zone, a flood notification form signed by the applicable Obligor and evidence that flood insurance is in place for the buildings and their contents located thereon. Borrowers shall pay all reasonable and documented (in summary form) out-of-pocket fees and expenses, including reasonable and documented (in summary form) out-of-pocket attorneys' fees and expenses, and all title insurance charges and premiums, incurred by Borrowers in connection with each Borrower's obligations under this <u>Section 6.13</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.14 <u>Management Services Agreements</u>**. Preserve and maintain in full force and effect each of the Management Services Agreements (<u>provided</u> that Obligors shall be required to use only commercially reasonable efforts to so preserve and maintain if such Management Services Agreement is not a Material Contract), if any, until such time as the applicable Permits may be, and are, acquired by the applicable Obligor pursuant to the terms thereof, (b) comply in all material respects with each of their respective rights, duties and obligations under each of the Management Services Agreements, if any, in each case, so that the business carried on by the parties to such Management Services Agreements may be properly conducted in accordance with applicable law in all material respects at all times, and (c) use commercially reasonable efforts to cause any Person that becomes a Managed Entity to execute and deliver to Administrative Agent a Collateral Assignment of Management Services Agreement with such Obligor, and each Collateral Assignment of Management Services Agreement, or the Management Services Agreement subject thereto, shall prohibit the Managed Entity party thereto to incur, whether directly, as a guarantor or otherwise, any Indebtedness unless such Indebtedness would constitute Permitted Indebtedness if such Managed Entity were an Obligor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.15 <u>Colorado Cannabis Business</u>**. Use commercially reasonable efforts to (a) conduct all Cannabis Business of Vireo Growth and its Subsidiaries in the State of Colorado through Parent and its Subsidiaries and (b) ensure all assets of such Cannabis Business, whether acquired, generated or otherwise, are wholly owned by Parent and its Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.16 <u>Post-Closing Covenants</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) On or before [\*\*\*], deliver to Administrative Agent, in form and substance reasonably satisfactory to Administrative Agent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a completed Schedule 22 of the Information Certificate dated the Closing Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) (A) evidence of the filing of the assignments of the copyrights, patents and trademarks, and applications therefor, obtained pursuant to the MMT Acquisition to Parent with the United States Copyright Office, the United States Patent and Trademark Office and the applicable state Governmental Authorities, and (B) a security agreement duly executed by Parent with respect to such federal intellectual property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) On or before [\*\*\*], deliver to Administrative Agent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a Controlled Account Agreement with respect to each Deposit Account, Securities Account or Commodity Account (other than an Excluded Account) maintained by or for the benefit of an Obligor on the Closing Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) insurance policy certificates and endorsements addressed to Administrative Agent, in form and substance reasonably satisfactory to Administrative Agent, confirming Obligors' satisfaction of the insurance requirements contained in the Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Within [\*\*\*] days after the establishment of any Deposit Account, Securities Account or Commodity Account (other than an Excluded Account) by an Obligor after the Closing Date, deliver to Administrative Agent a Controlled Account Agreement with respect to such Deposit Account, Securities Account or Commodity Account.

**SECTION 7. NEGATIVE COVENANTS**

Until payment in full of the Obligations, no Obligor shall, unless Administrative Agent otherwise agrees in its discretion:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1 <u>Fundamental Changes</u>**. (a) Merge, reorganize or consolidate with any Person, or liquidate, wind up its affairs or dissolve itself, in each case whether in a single transaction or in a series of related transactions except (i) for any such merger, reorganization or consolidation of any Person into or with an Obligor in a transaction in which an Obligor is the surviving Person and (ii) pursuant to a Permitted Acquisition or Permitted Asset Disposition; (b) change its federal employer identification number; (c) change its legal name, state of incorporation or formation, organizational identification number or structure, in each case of this clause (c), without having first provided at least 30 days (or such shorter period as to which Administrative Agent may agree in its discretion) prior written notice to Administrative Agent and complying with all reasonable requirements of Administrative Agent in regard thereto; (d) relocate its chief executive office or principal place of business without having first provided at least 30 days (or such shorter period as to which Administrative Agent may agree in its discretion) prior written notice to Administrative Agent and complying with <u>Section 6.8</u>; (e) create any Subsidiary, or acquire any Subsidiary other than pursuant to a Permitted Investment, in each case, unless Obligors shall have complied with the requirements of <u>Sections 6.12</u> and, if applicable, <u>6.13</u>; or (f) amend, modify or otherwise change any of the terms or provisions in any of its Organic Documents in a manner materially adverse to the interests of Administrative Agent or any Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2 <u>Conduct of Business</u>**. Suspend or otherwise discontinue all or any material part of its business operations for any reason; move, transfer or otherwise locate any assets used at, acquired to be used at, arising from or relating to the facilities and operations conducted at any property encumbered by any Mortgage to any other property not owned or leased by an Obligor; conduct any material business outside of the United States; or engage in any business other than substantially the business engaged in by it or its Subsidiaries on the Closing Date or on the date such Obligor was joined to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.3 <u>Liens</u>**. Create, incur or suffer to exist any Lien on any of its assets other than Permitted Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.4 <u>Investments; Asset Dispositions</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Purchase, own, invest in or otherwise acquire, directly or indirectly, (i) any Equity Interests (including the creation or capitalization of any Subsidiary), evidence of Indebtedness or other obligation or security, (ii) substantially all or a portion of the business or assets of any other Person or any division or line of business thereof, (iii) any Cannabis License (including any option to acquire any Cannabis License) or (iv) any other investment or interest whatsoever in any other Person, or make or permit to exist, directly or indirectly, any loans, advances or extensions of credit to, or any investment in cash or by delivery of property in, any Person except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) Permitted Investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) reimbursement of expenses to officers or employees of Obligors in the Ordinary Course of Business and payments to officers or employees to be made as required by the Restructuring Support Agreement or the Consulting Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) any Obligor may make deposits into Deposit Accounts and Securities Accounts permitted by <u>Sections 6.9</u> and <u>7.10</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Make any Asset Disposition (real or personal, tangible or intangible) other than Permitted Asset Dispositions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.5 <u>Indebtedness</u>**. Create, incur, guarantee or suffer to exist any Indebtedness other than Permitted Indebtedness.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.6 <u>Restricted Payments</u>**. Directly or indirectly declare, make or pay any Restricted Payment; <u>provided</u>, <u>however</u>, that (a) each Obligor's Subsidiaries may make Distributions to such Obligor or a Subsidiary of an Obligor that is an Obligor, (b) each Obligor may make Permitted Tax Distributions, (c) the applicable Obligor may make the Restricted Payments of such Obligor (i) (A) as required by the Consulting Agreement, (B) as contemplated under Section 8.4 of that certain Amended and Restated Limited Liability Company Agreement of Parent ("<u>VRM LLCA</u>"), or (C) with respect to any Person holding Class A Units or Class C Units (as such terms are defined in the VRM LLCA) in Parent who has or may have a put right, or is or may be subject to a call right, with respect thereto under Section 8.4 of the VRM LLCA, as may be contemplated by a separate written agreement with commercially reasonable terms between Parent, Vireo Growth and any such Person in respect of exchange or conversion of such Person's Class A Units or Class C Units in Parent, (ii) if no Event of Default has occurred and is continuing or would immediately occur as a result thereof, as required by the Parent Management Agreement or (iii) as otherwise contemplated by the Restructuring Support Agreement, (d) any Obligor may make the Restricted Payments of such Obligor required by the PharmaCann Transaction Documents, (e) [\*\*\*], (f) [\*\*\*], (g) any Obligor may make the Restricted Payments of such Obligor required by the Eaze Transaction Documents and (h) each Obligor and any Subsidiary of an Obligor may make other Distributions so long as the Transaction Conditions are satisfied with respect to each Distribution after giving pro forma effect thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.7 <u>ERISA</u>**. Other than as would not result in a Material Adverse Effect, withdraw from participation in, permit any full or partial termination of or permit the occurrence of any other event with respect to any Plan maintained for the benefit of an Obligor's employees under circumstances that could reasonably be expected to result in liability to the Pension Benefit Guaranty Corporation, or any of its successors or assigns, or to any entity which provides funds for such Plan; or withdraw from any Plan described in Section 4001(a)(3) of ERISA which covers an Obligor's employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.8 <u>Tax and Accounting Matters</u>**. File or consent to the filing of any material consolidated income tax return with any Person other than a Subsidiary of such Person; make any significant change in accounting treatment, accounting methods or reporting practices, except as required by GAAP; or establish a fiscal year different than the Fiscal Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.9 <u>Intellectual Property</u>**. (a) Allow any of its Intellectual Property to be abandoned, forfeited or dedicated to the public or (b) suffer any claim of infringement, in each case, other than to the extent the same would not reasonably be expected to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.10 <u>Maintenance of Accounts</u>**. Maintain any Deposit Account, Securities Account or Commodity Account, unless such Deposit Account, Securities Account or Commodity Account is subject to a Controlled Account to the extent required by <u>Section 6.9</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.11 <u>Capital Expenditures</u>**. Make or incur Capital Expenditures outside of the Ordinary Course of Business in any Fiscal Year in excess of $5,000,000 in the aggregate with all other Obligors and their respective Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.12 <u>Changes to Material Contracts; Other Documents</u>**. (a) Amend, supplement or otherwise modify, or waive any right under, any Material Contract if the same would be materially adverse to the interests of Administrative Agent or any Lender in their capacity as such and is not in connection with a transaction expressly permitted by the terms of this Agreement, or (b) permit any Managed Entity to incur, whether directly, as a guarantor or otherwise, any Indebtedness unless such Indebtedness would constitute Permitted Indebtedness if such Managed Entity were an Obligor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.13 <u>Inconsistent Agreements</u>**. Enter into any Material Contract which violates the terms hereof or any other Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.14 <u>Negative Pledge</u>**. Enter into, directly or indirectly, any agreement with any Person that prohibits or restricts or limits the ability of any Obligor or any Subsidiary thereof to create, incur, pledge or suffer to exist any Permitted Lien upon any of its assets (other than a document pursuant to which a Lien permitted by clause (a), (d), (f), (m), (p), (q), (r), (s) or (t) of the definition of Permitted Liens is granted) or (other than the Loan Documents) restricts the ability of any Subsidiary of any Obligor to pay Distributions to such Obligor.

**SECTION 8. EVENTS OF DEFAULT; REMEDIES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1 <u>Events of Default</u>**. The occurrence or existence of any one or more of the following events or conditions shall constitute an Event of Default under this Agreement unless Administrative Agent otherwise agrees in its discretion:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) (i) Any Borrower shall fail to pay the principal amount of any of the Obligations or any interest thereof (whether due at stated maturity, on demand, upon acceleration or otherwise), or (ii) any Obligor shall fail to pay any other Obligation, in each case of this clause (ii), within [\*\*\*] Business Days after the due date thereof; <u>provided</u>, that such cure right may not be exercised more than two times during any trailing consecutive 12-month period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any Obligor fails or neglects to perform, keep or observe any covenant contained in <u>Section 6.1</u>, <u>6.2</u>, <u>6.3</u>, <u>6.5</u>, <u>6.7</u>, <u>6.9</u>, <u>6.11</u>, <u>6.12</u>, <u>6.13</u>, <u>6.14</u>, <u>6.15</u>, <u>6.16</u>, <u>7</u> or <u>9</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any Obligor fails or neglects to perform, keep or observe any other covenant contained in this Agreement or any other Loan Document if the breach of such other covenant is not cured to Administrative Agent's reasonable satisfaction within 30 days after receipt by such Person of notice from Administrative Agent of such failure or neglect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Any representation, statement, report or certificate made or delivered by any Obligor to Administrative Agent or any Lender under or pursuant to this Agreement or any other Loan Document is not true and correct, in any material respect, when made or deemed made or furnished.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) An Insolvency Proceeding (i) is commenced against any Obligor and is not dismissed within 60 days thereafter or (ii) is commenced by any Obligor .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) One or more judgments in excess of the EOD Threshold Amount in the aggregate shall be entered against any Obligor and (i) enforcement proceedings shall have been commenced by any creditor upon such judgment, (ii) there shall be any period of [\*\*\*] consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, shall not be in effect or (iii) results in the creation or imposition of a Lien upon any portion of the Collateral that is not a Permitted Lien.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) (i) There is a default, after the expiration of any applicable cure period, under any agreement, mortgage or indenture to which any Obligor is a party with a Person with an outstanding balance owed in excess of the EOD Threshold Amount, if, as a result of such default the Indebtedness or other obligation evidenced or secured by any such agreement may be accelerated or demand for payment thereof may be made, or (ii) an Event of Default (as defined in the documentation evidencing the Indebtedness described in clause (a) of the definition of Subordinated Debt) occurs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Any Guarantor revokes or attempts to revoke any Loan Document signed by such Guarantor; repudiates or disputes such Guarantor's liability thereunder; or is in default after the expiration of any applicable cure period under the terms thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) A Reportable Event shall occur which Administrative Agent, in its reasonable discretion, shall determine constitutes grounds for the termination by the Pension Benefit Guaranty Corporation of any Plan or the appointment by the appropriate United States district court of a trustee for any Plan or if any Borrower or any other Obligor is in "default" (as defined in Section 4219(c)(5) of ERISA) with respect to payments in excess of the EOD Threshold Amount in the aggregate to a Plan resulting from such Borrower's or such other Obligor's complete or partial withdrawal from such Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Any Obligor shall challenge in any action, suit or other proceeding the validity or enforceability of any of the Loan Documents, the legality or enforceability of any of the Obligations or the perfection or priority of any Lien granted to Administrative Agent, or any of the Loan Documents ceases to be in full force or effect for any reason other than a full or partial waiver or release by Administrative Agent in accordance with the terms thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) John Mazarakis shall fail to serve as Chief Executive Officer of Vireo Growth or any Obligor, and he shall not be replaced by a Person acceptable to Administrative Agent within 90 days of the date on which such failure occurs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) A Change of Control shall occur.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) A Change in Law shall occur, or any Obligor shall engage in any Restricted Cannabis Activity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Any Material Cannabis License or any other material Permit of an Obligor shall be revoked, fail to be renewed by the applicable Governmental Authority, suspended or otherwise cease to be valid, subsisting and in good standing, or any Obligor shall fail to be eligible for any reason to obtain any Cannabis License or any other material Permit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) (i) Any Obligor (A) shall have been found guilty of an act of fraud or (B) shall have become subject to any adverse, final, non-appealable judgment in any civil or criminal prosecution, enforcement, asset forfeiture or any other civil or criminal enforcement action or proceeding brought by any Governmental Authority with respect to any breach of US State Cannabis Law, or (ii) any officer, director or, if such Obligor is manager-managed, manager thereof (A) shall have been found guilty of an act of fraud or (B) shall have become subject to any adverse, final, non-appealable judgment in any civil or criminal prosecution, enforcement, asset forfeiture or any other civil or criminal enforcement action or proceeding brought by any state or local Governmental Authority with respect to any alleged breach of US State Cannabis Law; and, with respect to any of the foregoing circumstances described in this clause (ii)(B), such Person described in this clause (ii)(B) is not removed or terminated immediately after Parent is notified of such event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) Any Loan Document that purports to create a Lien, shall, for any reason, fail or cease to create a valid, perfected and, except to the extent permitted by the terms hereof, first priority Lien on or security interest in the Collateral covered hereby or thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) Any litigation or proceeding is commenced against any Obligor for payment of money that results in a judgment for at least the EOD Threshold Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) Any of the assets of any Obligor in excess of the EOD Threshold Amount in the aggregate shall be attached, seized, levied upon or subjected to a writ or distress warrant, or comes into the possession of any trustee, receiver or Person acting in a similar capacity and such attachment, seizure, levy, writ or distress warrant has not been removed, discharged or rescinded is not discharged before the earlier of 60 days after the date it first arises or five days prior to the date on which such property or asset is subject to forfeiture by such Obligor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) A loss of Collateral in excess of the greater of (i) the insurance coverage and (ii) the EOD Threshold Amount in the aggregate shall occur.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) Any Person party to any subordination or intercreditor agreement in favor of or with Administrative Agent (other than, in each case, Administrative Agent) shall challenge in any action, suit or other proceeding the validity or enforceability of such Loan Document, the legality or enforceability of any of any Person's obligations thereunder or the perfection or priority of any Lien granted to Administrative Agent, or such subordination or intercreditor agreement ceases to be in full force or effect for any reason other than a full or partial waiver or release by Administrative Agent and Lenders in accordance with the terms thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) Any Managed Entity shall have incurred, whether directly, as a guarantor or otherwise, any Indebtedness unless such Indebtedness would constitute Permitted Indebtedness if such Managed Entity were an Obligor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2 <u>Remedies</u>**. Upon or after the occurrence of an Event of Default, Administrative Agent may, in its discretion, and Administrative Agent shall, at the direction of Required Lenders, in each case, without notice to or demand upon any Obligor, do any one or more of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Declare all Obligations due, whereupon the same shall become without further presentment, protest, notice or demand (all of which presentment, protest, notice and demand each Obligor expressly waives) immediately due and payable (<u>provided</u>, that, upon the occurrence of any Event of Default described in <u>Section 8.1(e)</u>, all Obligations shall automatically become immediately due and payable without further presentment, protest, notice or demand (all of which presentment, protest, notice and demand each Obligor expressly waives)), and Borrowers shall pay to Administrative Agent, for the benefit of Secured Creditors, the entire outstanding aggregate principal balance of, and accrued and unpaid interest on, the Loans and all other Obligations plus Lender Expenses if such principal and interest are collected by or through an attorney-at-law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Cease advancing any money or extending any credit to or for the benefit of Borrowers under this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Other than with respect to Excluded Assets, notify Account Debtors owing Accounts to any Obligor or lessees of any Obligor that their Accounts have been assigned to Administrative Agent, for the benefit of Secured Creditors, and that Administrative Agent, for the benefit of Secured Creditors, has a security interest therein, collect them directly and charge the collection costs and expenses to the applicable Loan Account, and such costs and expenses shall constitute Obligations secured by the Collateral;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Other than with respect to Excluded Assets, require each Obligor to (i) provide prompt written notice to its current banks to transfer all items, collections and remittances to a Controlled Account or as otherwise directed by Administrative Agent, (ii) provide prompt written notice to each Account Debtor that Administrative Agent has been granted a Lien upon all Accounts applicable to such Account Debtor and shall direct each Account Debtor to make payments to a Controlled Account or as otherwise directed by Administrative Agent, and each Obligor hereby authorizes Administrative Agent to send any and all similar notices and directions to such Account Debtors, and (iii) do anything further that may be lawfully required by Administrative Agent to create and perfect Administrative Agent's Lien on any Collateral and effectuate the intentions of the Loan Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Without the requirement of notice to or upon any Obligor or any other Person (which notice is hereby expressly waived to the maximum extent permitted by the UCC or any other applicable law), (i) with respect to any of Obligors' Deposit Accounts in which Administrative Agent's Liens are perfected by control under Section 9-104 of the UCC, instruct the bank maintaining such Deposit Account for the applicable Obligor to pay the balance of such Deposit Account to or for the benefit of Administrative Agent, and (ii) with respect to any of Obligors' Securities Accounts in which Administrative Agent's Liens are perfected by control under Section 9-106 of the UCC, instruct the securities intermediary maintaining such Securities Account for the applicable Obligor to (A) transfer any cash in such Securities Account to or for the benefit of Administrative Agent, or (B) liquidate any financial assets in such Securities Account that are customarily sold on a recognized market and transfer the cash proceeds thereof to or for the benefit of Administrative Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Take immediate possession of any Collateral, wherever located; require Obligors to assemble the Collateral, at Obligors' expense, and make it available to Administrative Agent at a place designated by Administrative Agent; and enter any premises where any of the Collateral may be located and keep and store the Collateral on said premises until sold (and if said premises are the property of any Obligor, then such Obligor agrees not to charge any Secured Creditor for storage or other use thereof);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) With or without having the Collateral at the time or place of sale, sell the Collateral, or any part thereof, at public or private sale, at any time or place, in one or more sales, at such price or prices, and upon such terms, either for cash, credit or future delivery, as Administrative Agent may elect. Except as to that part of the Collateral which is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, Administrative Agent shall give the applicable Obligor reasonable notification of such sale or sales, it being agreed that in all events written notice mailed to such Obligor at least 10 days prior to such sale or sales is reasonable notification. At any public sale Administrative Agent or any Lender may bid (including credit bid) for and become the purchaser, and Administrative Agent, any Lender or any other purchaser at any such sale thereafter shall hold the Collateral sold absolutely free from any claim or right of whatsoever kind, including any equity of redemption and all such claims, rights and equities are hereby expressly waived and released by each Obligor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) (i) With notice to the applicable Obligor, exercise all voting rights, and all other ownership or consensual rights, in respect of the Equity Interests pledged by such Obligor, but under no circumstances is Administrative Agent obligated by the terms of this Agreement or any other Loan Document to exercise such rights, and (ii) if Administrative Agent duly exercises its right to vote any of such Equity Interests in accordance with clause (i) above, each Obligor hereby appoints Administrative Agent such Obligor's true and lawful attorney-in-fact and IRREVOCABLE PROXY to vote such Equity Interests in any manner Administrative Agent deems advisable for or against all matters submitted or which may be submitted to a vote of shareholders, partners or members, as the case may be. The power-of-attorney granted hereby is coupled with an interest and shall be irrevocable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Petition for and obtain the appointment of a receiver, without notice of any kind whatsoever, to take possession of any or all of the Collateral and business of each Obligor and to exercise such rights and powers as the court appointing such receiver shall confer upon such receiver;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Set off any cash of any Obligor in the possession of Administrative Agent or any Lender, and apply the balances therein to the payment of the Obligations; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Exercise any and all rights and remedies provided for herein, under the other Loan Documents, under the Uniform Commercial Code (including the UCC) and at law or equity generally, including the right to foreclose the security interests granted herein and to realize upon any Collateral by any available judicial procedure or to take possession of and sell any or all of the Collateral with or without judicial process.

Administrative Agent shall have the right to appoint a receiver for the property of any Obligor or a chief restructuring officer for the operation of any Obligor, and Obligors hereby consent to such rights and such appointment and hereby waive any objection Obligors may have thereto or the right to have a bond or other security posted by Administrative Agent in connection therewith.

Administrative Agent is hereby granted an irrevocable, non-exclusive license or other right to use, license or sub-license (exercisable without payment of compensation to any Obligor or any Affiliate thereof) any or all of each Obligor's patents, trademarks, tradenames and copyrights and all of each Obligor's computer hardware and software, trade secrets, brochures, customer lists, promotional and advertising materials, labels and packaging materials, and any property of a similar nature, in advertising for sale, marketing, selling and collecting and in completing the manufacturing of any Collateral, and each Obligor's rights under all licenses and franchise agreements shall inure to Administrative Agent, for the benefit of Secured Creditors.

The proceeds realized from any sale or other disposition of any Collateral shall be applied, after allowing two Business Days for collection, as provided in <u>Section 2.4(d)</u>.

Notwithstanding the foregoing or anything herein or in any other Loan Document to the contrary, Administrative Agent and Lenders acknowledge that the exercise of each of their rights and remedies is subject to compliance with all applicable laws, including US State Cannabis Laws. Nothing contained in this <u>Section 8.2</u> shall be deemed permission or agreement by any Obligor to permit or allow Administrative Agent or any Lender to exercise rights or remedies other than in compliance with applicable US State Cannabis Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.3 <u>Cumulative Rights; No Waiver</u>**. All covenants, conditions, warranties, guaranties, indemnities and other undertakings of Obligors in any of the Loan Documents shall be deemed cumulative, and Administrative Agent and each Lender shall have all other rights and remedies not inconsistent herewith as provided under the UCC or other applicable law. No exercise by Administrative Agent or any Lender of one right or remedy shall be deemed an election, and no waiver by Administrative Agent or any Lender of any Default or Event of Default on one occasion shall be deemed to be a continuing waiver or applicable to any other occasion. No delay by Administrative Agent or any Lender shall constitute a waiver, election or acquiescence by Administrative Agent or such Lender in any failure by any Borrower or any other Obligor to strictly comply with its obligations under the Loan Documents.

**SECTION 9. GUARANTY**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.1 <u>Guaranty</u>**. Each Guarantor hereby unconditionally guarantees, as a primary obligor and not merely as a surety, jointly and severally with each other Guarantor when and as due, whether at maturity, by acceleration, by notice of prepayment or otherwise, the due and punctual performance of all Obligations. Each payment made by each Guarantor pursuant to this <u>Section 9</u> shall be made in lawful money of the United States in immediately available funds, and, unless otherwise required by <u>Section 2.12(b)</u>, free and clear of, and without condition, deduction for or withholding for, any claim, counterclaim, defense, recoupment, setoff or Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2 <u>Waivers</u>**. Each Guarantor hereby absolutely, unconditionally and irrevocably waives (a) promptness, diligence, notice of acceptance, notice of presentment of payment and any other notice hereunder, (b) demand of payment, protest, notice of dishonor or nonpayment, notice of the present and future amount of the Obligations and any other notice with respect to the Obligations, (c) appointment of a receiver or keeper by Administrative Agent to take possession of Collateral and to enforce its remedies (including the identify of such receiver), (d) any requirement that Administrative Agent or any Lender protect, secure, perfect or insure any security interest or Lien or any property subject thereto or exhaust any right or take any action against any other Guarantor, or any Person or any Collateral, (e) any other action, event or precondition to the enforcement hereof or the performance by any Guarantor of the Obligations, (f) all suretyship defenses and (g) any defense arising by any lack of capacity or authority or any other defense of any Borrower or any other Guarantor or any notice, demand or defense by reason of cessation from any cause of Obligations other than payment and performance in full of the Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.3 <u>No Defense</u>**. No invalidity, irregularity, voidableness, voidness or unenforceability of this Agreement or any other Loan Document or any other agreement or instrument relating thereto, or of all or any part of the Obligations or of any collateral security therefor shall affect, impair or be a defense hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.4 <u>Guaranty of Payment</u>**. The Guaranty hereunder is one of payment and performance, not collection, and the obligations of each Guarantor hereunder are independent of the Obligations of any Borrower, any other Guarantor or any other Person, and a separate action or actions may be brought and prosecuted against any Guarantor to enforce the terms and conditions of this <u>Section 9</u>, irrespective of whether any action is brought against any Borrower or any other Guarantor or other Persons or whether any Borrower, any other Guarantor or other Persons are joined in any such action or actions. Each Guarantor waives any right to require that any resort be had by Administrative Agent or any Lender to any security held for payment of the any Obligations or to any balance of any Deposit Account or credit on the books of Administrative Agent or any Lender in favor of any Borrower, any other Guarantor or any other Person. No election to proceed in one form of action or proceedings, or against any Person, or on any Obligations, shall constitute a waiver of Administrative Agent's or any Lender's right to proceed in any other form of action or proceeding or against any other Person unless Administrative Agent or such Lender has expressed any such right in writing. Without limiting the generality of the foregoing, no action or proceeding by Administrative Agent or any Lender against any Borrower, any other Guarantor or any other Person under any document evidencing or securing Indebtedness or any other obligation of any Borrower or any other Guarantor shall diminish the liability of any Guarantor hereunder, except to the extent Administrative Agent or such Lender receives actual payment on account of the Obligations by such action or proceeding, notwithstanding the effect of any such election, action or proceeding upon the right of subrogation of such Guarantor in respect of any Borrower, any other Guarantor or any other Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.5 <u>Indemnity</u>**. As an original and independent obligation under this Agreement, each Guarantor shall, jointly and severally, with the other Guarantors, (a) indemnify Administrative Agent and each Lender and keep Administrative Agent and each Lender indemnified against all costs, losses, expenses and liabilities of whatever kind resulting from the failure by any party to make due and punctual payment of any of the Obligations or resulting from any of the Obligations being or becoming void, voidable, unenforceable or ineffective against any Borrower (including all Lender Expenses incurred by Administrative Agent and each Lender, or any of them in connection with preserving or enforcing, or attempting to preserve or enforce, its rights under this Agreement and the other Loan Documents), and (b) pay (i) if an Event of Default exists, on demand, and (ii) otherwise, within [\*\*\*] days of demand, the amount of such Lender Expenses or losses, and liabilities whether or not Administrative Agent or any Lender has attempted to enforce any rights against any Borrower or any other Person or otherwise. This <u>Section 9.5</u> shall not apply to any Taxes (other than Taxes that represent costs, losses, expenses and liabilities resulting from a non-Tax claim).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.6 <u>Liabilities Absolute</u>**. The liability of each Guarantor hereunder shall be absolute, unlimited and unconditional and shall not be subject to any reduction, limitation, impairment, discharge or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any claim, defense, setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity or unenforceability of the Obligations, any other Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor shall not be discharged or impaired, released, limited or otherwise affected by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any change in the manner, place or terms of payment or performance, or any change or extension of the time of payment or performance of, release, renewal or alteration of, or any new agreements relating to any Obligations, any security therefor, or any liability incurred directly or indirectly in respect thereof, or any rescission of, or amendment, waiver or other modification of, or any consent to departure from, this Agreement or any other Loan Document, including any increase in the Obligations resulting from the extension of additional credit to any Borrower or otherwise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any sale, exchange, release, surrender, loss, abandonment, realization upon any property by whomsoever at any time pledged or mortgaged to secure, or howsoever securing, all or any of the Obligations, or any offset there against, or failure to perfect, or continue the perfection of, any Lien in any such property, or delay in the perfection of any such Lien, or any amendment or waiver of or consent to departure from any other guaranty for all or any of the Obligations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the failure of Administrative Agent or any Lender to assert any claim or demand or to enforce any right or remedy against any Borrower or any Guarantor or any other Person under the provisions of this Agreement or any other Loan Document or any other document or instrument executed and delivered in connection herewith or therewith;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any settlement or compromise of any Obligation, any security therefor or any liability (including any of those hereunder) incurred directly or indirectly in respect thereof or hereof, and any subordination of the payment of all or any part thereof to the payment of obligation (whether due or not) of any Borrower or any Guarantor to creditors of any Borrower or any Guarantor other than any Borrower or any Guarantor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any manner of application of Collateral, or proceeds thereof, to all or any of the Obligations, or any manner of sale or other disposition of any Collateral for all or any of the Obligations or any other assets of any Borrower or any Guarantor; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any other agreements or circumstance of any nature whatsoever that may or might in any manner or to any extent vary the risk of any Guarantor, or that might otherwise at law or in equity constitute a defense available to, or a discharge of, the Guaranty hereunder or the obligations of any Guarantor, or a defense to, or discharge of, any Borrower, any Guarantor or any other Person or party hereto or the Obligations or otherwise with respect to the Loans or other financial accommodations to any Borrower pursuant to this Agreement or the other Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.7 <u>Waiver of Notice</u>**. Administrative Agent, on behalf of Secured Creditors, shall have the right to do any of the above without notice to or the consent of Guarantors and each Guarantor expressly waives any right to notice of, consent to, knowledge of and participation in any agreements relating to any of the above or any other present or future event relating to the Obligations whether under this Agreement or otherwise or any right to challenge or question any of the above and waives any defenses of such Guarantor that might arise as a result of such actions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.8 <u>Secured Creditors' Discretion</u>**. Subject to <u>Section 10.11</u>, each Secured Creditor may at any time and from time to time (whether prior to or after the revocation or termination of this Agreement) without the consent of, or notice to, any Guarantor, and without incurring responsibility to any Guarantor or impairing or releasing the Obligations, apply any sums by whomsoever paid or howsoever realized to any Obligations regardless of what Obligations remain unpaid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.9 <u>Reinstatement</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The provisions of this <u>Section 9</u> shall continue to be effective or be reinstated, as the case may be, if claim is ever made upon Administrative Agent or any Lender for repayment or recovery of any amount or amounts received by it in payment or on account of any of the Obligations and it repays all or part of said amount for any reason whatsoever, including by reason of any judgment, decree or order of any court or administrative body having jurisdiction over such Person or the respective property of each, or any settlement or compromise of any claim effected by such Person with any such claimant (including any Borrower or any other Obligor); and in such event each Guarantor hereby agrees that any such judgment, decree, order, settlement or compromise or other circumstances shall be binding upon such Guarantor, notwithstanding any revocation hereof or the cancellation of any note or other instrument evidencing any Obligation, and such Guarantor shall be and remain liable to Administrative Agent or Lenders for the amount so repaid or recovered to the same extent as if such amount had never originally been received by such Person(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No Secured Creditor shall be required to marshal any assets in favor of any Guarantor, or against or in payment of any Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) No Guarantor shall be entitled to claim against any present or future security held by any Secured Creditor from any Person for the Obligations in priority to or equally with any claim of such Secured Creditor, or assert any claim for any liability of any Borrower or any other Guarantor to such Guarantor, in priority to or equally with claims of any Secured Creditor for the Obligations, and Guarantors shall not be entitled to compete with any Secured Creditor with respect to, or to advance any equal or prior claim to any security held by any Secured Creditor for the Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If any Borrower or any Guarantor makes any payment to any Secured Creditor, which payment is wholly or partly subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to any Person under any federal or provincial statute or at common law or under equitable principles, then to the extent of such payment, the Obligation intended to be paid shall be revived and continued in full force and effect as if the payment had not been made, and the resulting revived Obligation shall continue to be guaranteed, uninterrupted, by each Guarantor hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) All present and future monies payable by any Borrower to any Guarantor, whether arising out of a right of subrogation or otherwise, are assigned to Administrative Agent, for the benefit of Secured Creditors, as security for the liability of such Guarantor to Administrative Agent and Lenders hereunder and are postponed and subordinated to Secured Creditors' prior right to payment in full of Obligations. All monies received by any Guarantor from any Borrower or any other Guarantor shall be held by such Guarantor as agent and trustee for Secured Creditors. This assignment, postponement and subordination shall only terminate when the Obligations are paid in full in cash and this Agreement is irrevocably terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Each Borrower and each Guarantor acknowledges this assignment, postponement and subordination and, except as otherwise set forth herein, agrees to make no payments to any Guarantor without the prior written consent of Administrative Agent if an Event of Default has occurred and is continuing. Each Borrower and each Guarantor agree to give full effect to the provisions hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.10 <u>Action Upon Event of Default</u>**. Upon the occurrence and during the continuance of any Event of Default, Administrative Agent may, without notice to or demand upon any Borrower, any Guarantor or any other Person, declare any obligations of any Guarantor under this <u>Section 9</u> immediately due and payable, and shall be entitled to enforce the obligations of each Guarantor under this <u>Section 9</u>. Upon such declaration by Administrative Agent, Administrative Agent and Lenders are hereby authorized at any time and from time to time to set off and apply any and all deposits (general or special, time or demand, provisions or final) at any time held and other Indebtedness or other liabilities at any time owing by Administrative Agent or Lenders to or for the credit or the account of such Guarantor against any and all of the obligations of such Guarantor now or hereafter existing hereunder, whether or not Administrative Agent or Lenders shall have made any demand hereunder against any Borrower or any other Person and although such obligations may be contingent and unmatured. The rights of Administrative Agent and Lenders hereunder are in addition to other rights and remedies (including other rights of set-off) which Administrative Agent and Lenders may have. Upon such declaration by Lenders, with respect to any claims (other than those claims referred to in the immediately preceding paragraph) of each Guarantor against any Borrower or any other Guarantors (for purposes of this <u>Section 9.10</u>, the "<u>Claims</u>"), each Secured Creditor shall have the full right on the part of such Secured Creditor in its own name or in the name of such Guarantor to collect and enforce such Claims by legal action, proof of debt in bankruptcy or other liquidation proceedings, vote in any proceeding for the arrangement of debts at any time proposed, or otherwise, each Secured Creditor and each of its officers being hereby irrevocably constituted attorneys-in-fact for each Guarantor for the purpose of such enforcement and for the purpose of endorsing in the name of such Guarantor any instrument for the payment of money. Each Guarantor will receive as trustee for Secured Creditors and will pay to Secured Creditors forthwith upon receipt thereof any amounts which such Guarantor may receive from any Borrower or any other Guarantor on account of the Claims. Each Guarantor agrees that at no time hereafter will any of the Claims be represented by any notes or other negotiable instruments or writings, except and in such event they shall either be made payable to Administrative Agent, or if payable to such Guarantor, shall forthwith be endorsed by such Guarantor to Administrative Agent. Each Guarantor agrees that no payment on account of the Claims or any security interest therein shall be created, received, accepted or retained during the continuance of any Event of Default nor shall any financing statement be filed with respect thereto by such Guarantor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.11 <u>Statute of Limitations</u>**. Any acknowledgment or new promise, whether by payment of principal or interest or otherwise and whether by any Borrower or any other Obligor or others (including any Lender) with respect to any of the Obligations shall, if the statute of limitations in favor of an Obligor against Administrative Agent or Lenders shall have commenced to run, toll the running of such statute of limitations and, if the period of such statute of limitations shall have expired, prevent the operation of such statute of limitations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.12 <u>Interest</u>**. All amounts due, owing and unpaid from time to time by any Guarantor under this <u>Section 9</u>, to the extent such amounts do not otherwise include interest accruing on the outstanding Obligations to the date all such amounts are actually paid by such Obligor, shall bear interest at the interest rate then chargeable with respect to the Loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.13 <u>Guarantor's Investigation</u>**. Each Guarantor acknowledges receipt of a copy of each of this Agreement and the other Loan Documents. Each Guarantor has made an independent investigation of each Borrower and each other Obligor and of the financial condition of each Borrower and each other Obligor. Neither Administrative Agent nor any Lender has made, and neither Administrative Agent nor any Lender does make, any representations or warranties as to the income, expense, operation, finances or any other matter or thing affecting any Borrower or any other Obligor, nor has Administrative Agent or any Lender made any representations or warranties as to the amount or nature of the Obligations of any Borrower or any other Obligor to which this <u>Section 9</u> applies as specifically herein set forth, nor has Administrative Agent or any Lender or any officer, agent or employee of Administrative Agent or any Lender or any representative thereof, made any other oral representations, agreements or commitments of any kind or nature, and each Guarantor hereby expressly acknowledges that no such representations or warranties have been made and each Guarantor expressly disclaims reliance on any such representations or warranties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.14 <u>Limitation of Liability</u>**. Each Guarantor, and, by its acceptance of the Guaranty hereunder, Administrative Agent and each Lender hereby confirm that it is the intention of all such Persons that the Guaranty hereunder and the Obligations of such Guarantor hereunder not constitute a fraudulent transfer or conveyance for purposes of the Bankruptcy Code, the UFTA, the UFCA or any other federal, state or foreign bankruptcy, insolvency, receivership or similar law to the extent applicable to the Guaranty hereunder and the Obligations of each Guarantor hereunder. To effectuate the foregoing intention, Administrative Agent and each Lender, by its acceptance of the Guaranty hereunder, and each Guarantor hereby irrevocably agree that the Obligations of Guarantor under the Guaranty hereunder at any time shall be limited to the maximum amount as will result in the Obligations of Guarantor under the Guaranty hereunder not constituting a fraudulent transfer or conveyance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.15 <u>Subrogation, Contribution, Etc.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) To the extent that any Guarantor shall, under the Guaranty hereunder, make an Obligor's Payment, then, without limiting its rights of subrogation against any Borrower, such Guarantor shall be entitled to contribution and indemnification from, and be reimbursed by, the Contributing Parties in an amount, for each such Contributing Party, equal to a fraction of such Obligor's Payment, the numerator of which fraction is such Contributing Party's Allocable Amount and the denominator of which is the sum of the Allocable Amounts of all of the Contributing Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The provisions of this <u>Section 9.15</u> shall in no respect limit the obligations and liabilities of each Guarantor to Secured Creditors, and each Guarantor shall remain liable to Secured Creditors for the full amount guaranteed by such Guarantor hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding anything to the contrary in this <u>Section 9.15</u> or otherwise, each Guarantor expressly waives any and all rights of subrogation, reimbursement, indemnity, exoneration, contribution of any other claim which such Guarantor may now or hereafter have against Borrowers or the other Guarantors or any other Person directly or contingently liable for the Obligations, or against or with respect to the property or any Borrower or any other Guarantor (including any property which is Collateral for the Obligations), arising from the existence or performance of this Agreement, until termination of this Agreement and repayment in full of the Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.16 <u>Termination</u>**. The provisions of this <u>Section 9</u> shall remain in effect until the indefeasible payment in full in cash of all Obligations and irrevocable termination of this Agreement.

**SECTION 10. administrative agent**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1 <u>Appointment</u>**. Each Lender (and, if applicable, each other Secured Creditor) hereby appoints Chicago Atlantic as its Administrative Agent under and for purposes of each Loan Document and hereby authorizes Administrative Agent to act on behalf of such Lender (or, if applicable, each other Secured Creditor) under each Loan Document and, in the absence of other written instructions from Lenders pursuant to the terms of the Loan Documents received from time to time by Administrative Agent, to exercise such powers hereunder and thereunder as are specifically delegated to or required of Administrative Agent by the terms hereof and thereof, together with such powers as may be incidental thereto. Notwithstanding any provision to the contrary elsewhere in this Agreement, Administrative Agent shall not have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with any Lender or other Secured Creditor, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against Administrative Agent. Anything contained in any of the Loan Documents to the contrary notwithstanding, Administrative Agent, each other Secured Creditor and each Obligor hereby agree that (a) no Secured Creditor shall have any right individually to realize upon any of the Collateral or to enforce this Agreement or any other Loan Documents, it being understood and agreed that all powers, rights and remedies hereunder may be exercised solely by Administrative Agent, on behalf of Secured Creditors in accordance with the terms hereof, and all powers, rights and remedies under the Loan Documents may be exercised solely by Administrative Agent, and (b) in the event of a foreclosure by Administrative Agent on any of the Collateral pursuant to a public or private sale or other disposition, Administrative Agent or any Lender may be the purchaser or licensor of any or all of such Collateral at any such sale or other disposition and Administrative Agent, as agent for and representative of Secured Creditors (but not any Lender or Lenders in its or their respective individual capacities unless Required Lenders shall otherwise agree in writing) shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such public sale, to use and apply any of the Obligations (including Obligations owed to any other Secured Creditor) as a credit on account of the purchase price for any Collateral payable by Administrative Agent at such sale or other disposition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2 <u>Delegation of Duties</u>**. Administrative Agent may execute any of its duties under this Agreement and the other Loan Documents by or through agents or attorneys in fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. Administrative Agent shall not be responsible for the negligence or misconduct of any agents or attorneys in fact selected by it with reasonable care.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.3 <u>Exculpatory Provisions</u>**. Neither Administrative Agent nor any of its officers, directors, employees, agents, attorneys in fact or Affiliates shall be (a) liable for any action lawfully taken or omitted to be taken by it or such Person under or in connection with this Agreement or any other Loan Document (except to the extent that any of the foregoing are found by a final and non-appealable decision of a court of competent jurisdiction to have resulted from its or such Person's own gross negligence, bad faith or willful misconduct) or (b) responsible in any manner to any Lender or any other Secured Creditor for any recitals, statements, representations or warranties made by any Obligor or any officer thereof contained in this Agreement or any other Loan Document or in any certificate, report, statement or other document referred to or provided for in, or received by Administrative Agent under or in connection with, this Agreement or any other Loan Document or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document or for any failure of any Obligor or other Person to perform its obligations hereunder or thereunder. Administrative Agent shall not be under any obligation to any Lender to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of any Obligor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.4 <u>Reliance by Administrative Agent</u>**. Administrative Agent shall be entitled to rely, and shall be fully protected in relying, upon any instrument, writing, resolution, notice, consent, certificate, affidavit, letter, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including counsel to Obligors), independent accountants and other experts selected by Administrative Agent. Administrative Agent may deem and treat the payee of any note as the owner thereof for all purposes unless a written notice of assignment, negotiation or transfer thereof shall have been filed with Administrative Agent. Administrative Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other Loan Document unless it shall first receive such advice or concurrence of Required Lenders (or, if so specified by this Agreement, all or other requisite Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders against any and all liability and expense that may be incurred by it by reason of taking or continuing to take any such action. Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of Required Lenders (or, if so specified by this Agreement, all Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lenders and all future holders of the Loans and all other Secured Creditors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.5 <u>Notice of Default</u>**. Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder, except with respect to any Default or Event of Default in the payment of principal, interest and fees required to be paid to Administrative Agent for the account of Lenders, unless Administrative Agent has received notice from a Lender or a Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a "notice of default". In the event that Administrative Agent receives such a notice, Administrative Agent shall give notice thereof to Lenders. Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); <u>provided</u> that unless and until Administrative Agent shall have received such directions, Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as Administrative Agent shall deem advisable in the best interests of Secured Creditors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.6 <u>Non-Reliance on Administrative Agent and other Lenders</u>**. Each Lender (and, if applicable, each other Secured Creditor) expressly acknowledges that neither Administrative Agent, nor any of its officers, directors, employees, agents, attorneys in fact or Affiliates have made any representations or warranties to it and that no act by Administrative Agent hereafter taken, including any review of the affairs of an Obligor or any Affiliate of an Obligor, shall be deemed to constitute any representation or warranty by Administrative Agent to any Lender or any other Secured Creditor. Each Lender (and, if applicable, each other Secured Creditor) represents to Administrative Agent that it has, independently and without reliance upon Administrative Agent or any other Lender or any other Secured Creditor, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of Obligors and their Affiliates and made its own decision to make its Loans hereunder. Each Lender (and, if applicable, each other Secured Creditor) also represents that it will, independently and without reliance upon Administrative Agent or any other Lender or any other Secured Creditor, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness of Obligors and their Affiliates. Except for notices, reports and other documents expressly required to be furnished to Lenders by Administrative Agent hereunder, Administrative Agent shall not have any duty or responsibility to provide any Lender or any other Secured Creditor with any credit or other information concerning the business, operations, property, condition (financial or otherwise), prospects or creditworthiness of any Obligor or any Affiliate of an Obligor that may come into the possession of Administrative Agent or any of its officers, directors, employees, agents, attorneys in fact or Affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.7 <u>Indemnification</u>**. Lenders agree to indemnify Administrative Agent in its capacity as such (to the extent not reimbursed by Obligors and without limiting the obligation of Obligors to do so), ratably according to their respective Total Credit Exposure in effect on the date on which indemnification is sought under this <u>Section 10.7</u> (or, if indemnification is sought after the date upon which the Loan Commitments shall have terminated and the Loans shall have been paid in full, ratably in accordance with such Total Credit Exposure immediately prior to such date), from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever that may at any time (whether before or after the payment of the Loans) be imposed on, incurred by or asserted against Administrative Agent in any way relating to or arising out of, the Loan Commitments, this Agreement, any of the other Loan Documents, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or any action taken or omitted by Administrative Agent under or in connection with any of the foregoing; <u>provided</u> that no Lender shall be liable for the payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements that are found by a final and non-appealable decision of a court of competent jurisdiction to have resulted from Administrative Agent's gross negligence, bad faith or willful misconduct. The agreements in this <u>Section 10.7</u> shall survive the payment of the Loans and all other amounts payable hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.8 <u>Administrative Agent in Its Individual Capacity</u>**. Administrative Agent and its Affiliates may make loans to, accept deposits from and generally engage in any kind of business with any Obligor as though Administrative Agent were not Administrative Agent. With respect to its Loans made or renewed by it, Administrative Agent shall have the same rights and powers under this Agreement and the other Loan Documents as any Lender and may exercise the same as though it were not Administrative Agent, and the terms "Lender", "Lenders", "Secured Creditor" and "Secured Creditors" shall include Administrative Agent in its individual capacity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.9 <u>Successor Administrative Agent</u>**. Administrative Agent may resign as Administrative Agent upon 20 days' notice to Lenders and Borrowers. If Administrative Agent shall resign as Administrative Agent in its applicable capacity under this Agreement and the other Loan Documents, then Required Lenders shall appoint a successor agent, whereupon such successor agent shall succeed to the rights, powers and duties of Administrative Agent in its applicable capacity, and the term "Administrative Agent" shall mean such successor agent effective upon such appointment and approval, and the former Administrative Agent's rights, powers and duties as Administrative Agent in its applicable capacity shall be terminated, without any other or further act or deed on the part of such former Administrative Agent or any of the parties to this Agreement or any holders of the Loans. If no applicable successor agent has accepted appointment as Administrative Agent in its applicable capacity by the date that is 20 days following such retiring Administrative Agent's notice of resignation, such retiring Administrative Agent's resignation shall nevertheless thereupon become effective and Lenders shall assume and perform all of the duties of Administrative Agent hereunder until such time, if any, as Required Lenders appoint a successor agent as provided for above. After any retiring Administrative Agent's resignation as Administrative Agent, the provisions of this <u>Section 10</u> shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under this Agreement and the other Loan Documents. Notwithstanding the foregoing, Chicago Atlantic may resign as Administrative Agent, and choose a successor for such capacity, without notice to, or the consent of, Lenders (including Required Lenders) if such successor is an Affiliate of Chicago Atlantic.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.10 <u>Administrative Agent Generally</u>**. Except as expressly set forth herein, Administrative Agent shall not have any duties or responsibilities hereunder in its capacity as such.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.11 <u>Restrictions on Actions by Secured Creditors; Sharing of Payments</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Lender agrees that it shall not, without the express written consent of Administrative Agent, and that it shall, to the extent it is lawfully entitled to do so, upon the written request of Administrative Agent, set off against the Obligations, any amounts owing by such Lender to any Obligor or any of their respective Subsidiaries or any deposit accounts of any Obligor or any of their respective Subsidiaries now or hereafter maintained with such Lender. Each Lender further agrees that it shall not, unless specifically requested to do so in writing by Administrative Agent, take or cause to be taken any action, including, the commencement of any legal or equitable proceedings to enforce any Loan Document against any Obligor or to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to <u>Section 11.18</u>, if, at any time or times any Lender shall receive (i) by payment, foreclosure, setoff, or otherwise, any proceeds of Collateral or any payments with respect to the Obligations, except for any such proceeds or payments received by such Lender from Administrative Agent pursuant to the terms of this Agreement, or (ii) payments from Administrative Agent in excess of such Lender's pro rata share of all such distributions by Administrative Agent, such Lender promptly shall (A) turn the same over to Administrative Agent, in kind, and with such endorsements as may be required to negotiate the same to Administrative Agent, or in immediately available funds, as applicable, for the account of all Lenders and for application to the Obligations in accordance with the applicable provisions of this Agreement, or (B) purchase, without recourse or warranty, an undivided interest and participation in the Obligations owed to the other Lenders so that such excess payment received shall be applied ratably as among Lenders in accordance with their pro rata shares; <u>provided</u> that to the extent that such excess payment received by the purchasing party is thereafter recovered from it, those purchases of participations shall be rescinded in whole or in part, as applicable, and the applicable portion of the purchase price paid therefor shall be returned to such purchasing party, but without interest except to the extent that such purchasing party is required to pay interest in connection with the recovery of the excess payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The benefit of the provisions of the Loan Documents directly relating to the Collateral or any Lien granted thereunder shall extend to and be available to any Secured Creditor that is not Administrative Agent or a Lender as long as, by accepting such benefits, such Secured Creditor agrees, as among Administrative Agent and all other Secured Creditors, that such Secured Creditor is bound by (and, if requested by Administrative Agent, shall confirm such agreement in a writing in form and substance acceptable to Administrative Agent) this <u>Section 10</u>, including <u>Sections 10.11(a)</u> and <u>10.11(b)</u>, and the decisions and actions of Administrative Agent and Required Lenders (or, where expressly required by the terms of this Agreement, a greater proportion of Lenders) to the same extent a Lender is bound; <u>provided</u> that, notwithstanding the foregoing, (i) except as set forth specifically herein, Administrative Agent and each Lender shall be entitled to act in its discretion, without regard to the interest of such Secured Creditor, regardless of whether any Obligation to such Secured Creditor thereafter remains outstanding, is deprived of the benefit of the Collateral, becomes unsecured or is otherwise affected or put in jeopardy thereby, and without any duty or liability to such Secured Creditor or any such Obligation and (ii) except as specifically set forth herein, such Secured Creditor shall not have any right to be notified of, consent to, direct, require or be heard with respect to, any action taken or omitted in respect of the Collateral or under any Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Without limitation of any other provision in this Agreement, if at any time Administrative Agent makes a payment hereunder in error to any Lender, whether or not in respect of an Obligation due and owing by any Borrower or any other Obligor at such time, where such payment is a Rescindable Amount, then in any such event, such Lender receiving a Rescindable Amount severally agrees to repay to Administrative Agent forthwith on demand the Rescindable Amount received by such Lender in immediately available funds in the currency so received, with interest thereon, for each day from and including the date such Rescindable Amount is received by it to but excluding the date of payment to Administrative Agent, at the greater of the Federal Funds Rate and a rate determined by Administrative Agent in accordance with banking industry rules on interbank compensation. Each Lender irrevocably waives any and all defenses, including any "discharge for value" (under which a creditor might otherwise claim a right to retain funds mistakenly paid by a third party in respect of a debt owed by another) or similar defense to its obligation to return any Rescindable Amount. Administrative Agent shall inform each Lender promptly upon determining that any payment made to such Lender comprises, in whole or in part, a Rescindable Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.12 <u>Collateral</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Administrative Agent hereby appoints each other Secured Creditor as its agent and as sub-agent for the other Secured Creditors (and each Secured Creditor hereby accepts such appointment) for the purpose of perfecting all Liens with respect to the Collateral, including with respect to assets which, in accordance with Article 8 or Article 9, as applicable, of the Uniform Commercial Code of any applicable state can be perfected only by possession or control. Should any Secured Creditor obtain possession or control of any such Collateral, such Secured Creditor shall notify Administrative Agent thereof, and, promptly upon Administrative Agent's request therefor shall deliver possession or control of such Collateral to Administrative Agent and take such other actions as agent or sub-agent in accordance with Administrative Agent's instructions to the extent, and only to the extent, so authorized or directed by Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Secured Creditor acknowledges that the Loans, all other Obligations and all interest, fees and Lender Expenses hereunder constitute one indebtedness, secured by all of the Collateral. Each Lender hereby directs, in accordance with the terms of this Agreement and the other Loan Documents, as applicable, Administrative Agent to release any Lien held by Administrative Agent in connection with this Agreement and the other Loan Documents against all of the Collateral upon the payment in full of the Obligations and termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Lender hereby directs Administrative Agent to execute and deliver or file or authorize the filing of such termination and partial release statements and do such other things as are necessary to release Liens to be released pursuant to this <u>Section 10.12</u> promptly upon the effectiveness of any such release. Upon request by Administrative Agent at any time, Lenders will confirm in writing Administrative Agent's authority to release particular types or items of Collateral pursuant to this <u>Section 10.12</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.13 <u>Enforcement by Administrative Agent</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All rights of action under this Agreement, the Notes and the other Loan Documents shall be instituted, maintained, pursued or enforced by Administrative Agent. Any suit or proceeding instituted by Administrative Agent in furtherance of such enforcement shall be brought in Administrative Agent's name without the necessity of joining any of the other Lenders. In any event, the recovery of any judgment by Administrative Agent shall be for the ratable benefit of all Secured Creditors, subject to the reimbursement of expenses and costs of Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Administrative Agent may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of Administrative Agent (including any claim for the Lender Expenses and reasonable disbursements and advances of Administrative Agent) and the other Secured Creditors hereunder allowed in any judicial proceedings relative to any Obligor or any of their respective creditors or property, and shall be entitled and empowered to collect, receive and distribute any monies, securities or other property payable or deliverable on any such claims, and any custodian in any such judicial proceedings is hereby authorized by each Lender to make such payments to Administrative Agent and, in the event that Administrative Agent shall consent to the making of such payments directly to Lenders, to pay to Administrative Agent any amount due to Administrative Agent for the Lender Expenses and reasonable disbursements and advances of Administrative Agent, and any other amounts due Administrative Agent under this Agreement or any other Loan Document. Nothing contained in this Agreement or the Loan Documents shall be deemed to authorize Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement, adjustment or composition affecting this Agreement or any other Loan Document, or the rights of any holder thereof, or to authorize Administrative Agent to vote in respect of the claim of any Lender in any such proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.14 <u>Obligors Not Beneficiaries</u>**. The provisions of this <u>Section 10</u> are solely for the benefit of Administrative Agent and Lenders, may not be enforced by any Obligor, and may be modified or waived without the approval or consent of any Obligor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.15 <u>Intercreditor and Subordination Agreements</u>**. Lenders hereby (a) authorize Administrative Agent to execute and deliver any intercreditor agreement or subordination agreement on behalf of Administrative Agent and Lenders and to perform their obligations thereunder and (b) agree to be bound by the provisions of such documents.

**SECTION 11. GENERAL PROVISIONS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.1 <u>Accounting Terms</u>**. Unless otherwise specified herein, all terms of an accounting character used in this Agreement shall be interpreted, all accounting determinations under this Agreement shall be made, and all financial statements required to be delivered under this Agreement shall be prepared, in accordance with GAAP, applied on a basis consistent with the most recent financial statements of Borrowers and their respective Subsidiaries delivered to Lenders prior to the Closing Date and using the same method for inventory valuation as used in such financial statements, except for any changes required by GAAP or as otherwise previously disclosed to Administrative Agent prior to the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.2 <u>Certain Matters of Construction</u>**. The terms "herein," "hereof" and "hereunder" and other words of similar import refer to this Agreement as a whole and not to any particular section, paragraph or subdivision. Any pronoun used shall be deemed to cover all genders. The section titles appear as a matter of convenience only and shall not affect the interpretation of this Agreement. References in this Agreement to "Preamble", "Recital", "Sections", "Schedules" or "Exhibits" shall be to the Preamble, Recitals, Sections, Schedules or Exhibits of or to this Agreement unless otherwise specifically provided. All references in this Agreement or any other Loan Document to statutes shall include all amendments of same and implementing rules and regulations and any successor or replacement statutes and regulations; to any instrument or agreement (including any of the Loan Documents) shall include any and all modifications and supplements thereto and any and all restatements, extensions or renewals thereof to the extent such modifications, supplements, restatements, extensions or renewals of any such documents are permitted by the terms hereof and thereof; to any Person means and includes the successors and permitted assigns of such Person; to "include," "includes" and "including" shall be deemed to be followed by the phrase "without limitation"; or to the time of day means the time of day on the day in question in Chicago, Illinois, unless otherwise expressly provided in such Loan Document. Unless the context of this Agreement or any other Loan Document clearly requires otherwise, references to the plural include the singular, references to the singular include the plural and the term "or" has, except where otherwise indicated, the inclusive meaning represented by the phrase "and/or." A Default or an Event of Default shall be deemed to exist at all times during the period commencing on the date that such Default or Event of Default occurs to the date on which such Default or Event of Default is waived in writing pursuant to this Agreement or, with respect to any Default, is cured within any period of cure expressly provided in this Agreement. All references in any Loan Document to the consent, discretion, or satisfaction of, acceptability to or approval by Administrative Agent or any Lender shall be deemed to mean the consent, discretion or satisfaction of, acceptability to or approval by Administrative Agent or such Lender in its sole and absolute discretion, except as otherwise expressly provided in the applicable Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.3 <u>Power of Attorney</u>**. Each Obligor hereby irrevocably makes, constitutes and appoints Administrative Agent (and any of Administrative Agent's officers, employees or agents designated by Administrative Agent), with full power of substitution, as such Person's true and lawful attorney, in such Person's name after the occurrence of an Event of Default and during the continuation thereof, subject to the last paragraph of <u>Section 8.2</u>, and other than with respect to Excluded Assets: (a) to endorse such Person's name on any checks, notes, acceptances, money orders, drafts or other forms of payment or security that may come into Administrative Agent's or any Lender's possession; (b) to sign such Person's name on drafts against Account Debtors, on schedules and assignments of Accounts, on notices to Account Debtors and on any Account invoice or bill of lading; (c) to send requests for verification of Accounts, and to contact Account Debtors in any other manner to verify the Accounts; (d), to notify the post office authorities to change the address for delivery of such Person's mail to any address designated by Administrative Agent, to receive and open all mail addressed to such Person, and to retain all mail relating to the Collateral and forward, within 10 Business Days of any Secured Creditor's receipt thereof, all other mail to such Person; and (e) to do all other things necessary or advisable to accomplish the purposes of this Agreement or the other Loan Documents. The foregoing power of attorney, being coupled with an interest, is irrevocable so long as any Obligations are outstanding. Each Obligor ratifies and approves all acts of the attorney. None of Administrative Agent or its employees, officers or agents shall be liable for any acts or omissions or for any error in judgment or mistake of fact or law except for gross negligence or willful misconduct as determined by a final non-appealable order of a court of competent jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.4 <u>Notices and Communications</u>**. All notices, requests and other communications to or upon a party hereto shall be in writing (including electronic mail transmission or similar writing) and shall be given to such party at the physical address or electronic mailing address set forth in below or at such other physical address or electronic mailing address as such party may hereafter specify for the purpose of notice to Administrative Agent, Lenders and Obligors in accordance with the provisions of this <u>Section 11.4</u>:

If to Obligors: Vireo Health of Rocky Mountain, LLC

c/o Vireo Growth Inc.

207 S. 9<sup>th</sup> Street

Minneapolis, Minnesota 55402

Attention: Legal; CFO

E-mail: [\*\*\*]

with a copy to (not to constitute service): Eversheds Sutherland (US) LLP

277 W. Monroe St., Suite 6000

Chicago, Illinois 60606

Attention: Craig Alcorn and Christina Rissler

Email: [\*\*\*]

If to Administrative Agent: Chicago Atlantic Financial Services, LLC

420 North Wabash Avenue, Suite 500

Chicago, Illinois 60611

Attention: Loan Department

E-mail: [\*\*\*]

with a copy to (not to constitute service): Kilpatrick Townsend & Stockton LLP

1100 Peachtree Street, Suite 2800

Atlanta, Georgia 30309

Attention: Shannon C. Baxter

E-mail: [\*\*\*]

If to any Lender: As set forth on <u>Schedule 3</u>.

Each such notice, request or other communication shall be effective (a) if given by mail, three Business Days after such communication is deposited in the U.S. Mail with first class postage pre-paid, addressed to the noticed party at the address specified herein, (b) if by nationally recognized overnight courier, when delivered with receipt acknowledged in writing by the noticed party, (c) if given by personal delivery, when duly delivered with receipt acknowledged in writing by the noticed party or (d) if given by electronic mail, unless Administrative Agent or any Lender otherwise prescribes, upon the sender's receipt of an acknowledgment from the intended recipient (such as by the "return receipt requested" function, as available, return e-mail or other written acknowledgement); <u>provided</u>, <u>however</u>, that if such electronic mail is not sent during the normal business hours of the recipient, such electronic mail shall be deemed to have been sent at the opening of business on the next Business Day for the recipient. Any written notice, request or demand that is not sent in conformity with the provisions hereof shall nevertheless be effective on the date that such notice, request or demand is actually received by the individual to whose attention at the noticed party such notice, request or demand is required to be sent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.5 <u>Performance of Obligors' Obligations</u>**. If any Obligor shall fail to discharge any covenant, duty or obligation hereunder or under any of the other Loan Documents such that an Event of Default has occurred and is continuing, Administrative Agent may, in its discretion at any time, for Borrowers' account and at Borrowers' expense, pay any amount or do any act required of any Obligor hereunder or under any of the other Loan Documents. All Lender Expenses incurred by Administrative Agent in connection with the taking of any such action shall be reimbursed to Administrative Agent by Borrowers on demand with interest at the Default Rate from the date such payment is made or such costs or expenses are incurred to the date of payment thereof. Any payment made or other action taken by Administrative Agent under this <u>Section 11.5</u> shall be without prejudice to any right to assert, and without waiver of, an Event of Default hereunder and without prejudice to the right of Administrative Agent to proceed thereafter as provided herein or in any of the other Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.6 <u>Successors and Assigns</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Successors and Assigns Generally</u>. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that no Obligor may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of Administrative Agent other than in connection with a transaction expressly permitted by <u>Section 7.1(a)</u> (and any other attempted assignment or transfer by any party hereto shall be null and void), and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of <u>Section 11.6(b)</u>, (ii) by way of participation in accordance with the provisions of <u>Section 11.6(d)</u>, or (iii) by way of pledge or assignment of a security interest subject to the restrictions of <u>Section 11.6(e)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Assignments by Tranche A Lenders</u>. Any Tranche A Lender may at any time assign to one or more assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its applicable Loans at the time owing to it); <u>provided</u> that any such assignment shall be subject to the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) other than in the case of an assignment (A) of the entire remaining amount of the assigning Tranche A Lender's applicable Loans at the time owing to it, (B) to another Tranche A Lender or (C) to an Affiliate or Approved Fund of such Tranche A Lender, the principal outstanding balance of the applicable Loans of the assigning Tranche A Lender subject to an assignment (determined as of the date the assignment and assumption agreement described in clause (iii) below is delivered to Administrative Agent) shall not be less than $500,000, unless each of Administrative Agent and Parent otherwise consents (each such consent not to be unreasonably withheld, conditioned or delayed);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the consent of Parent (such consent not to be unreasonably withheld, conditioned or delayed) shall be required unless (A) an Event of Default has occurred and is continuing at the time of such assignment or (B) such assignment is to a Tranche A Lender or an Affiliate or Approved Fund thereof (other than Parent or one of its Subsidiaries);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the parties to each assignment shall execute and deliver to Administrative Agent an assignment and assumption agreement in form and substance satisfactory to Administrative Agent, together with a processing and recordation fee of $3,500; <u>provided</u> that Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to Administrative Agent an administrative questionnaire to the extent provided by Administrative Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) no such assignment shall be made to a Person who is not an Eligible Assignee (it being understood and agreed that Administrative Agent shall have no liability or responsibility with respect to ensuring assignments are not made to Disqualified Institutions); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) such Tranche A Lender shall provide Obligors with all applicable information required to be submitted by Obligors to Licensing Divisions pursuant to US State Cannabis Laws with respect to such assignment, and, to the extent required by US State Cannabis Laws, all consents from Licensing Divisions with respect thereto shall have been obtained.

Subject to acceptance and recording thereof by Administrative Agent pursuant to <u>Section 11.6(c)</u>, from and after the effective date specified in each assignment and assumption agreement, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such assignment and assumption agreement, have the rights and obligations of a Tranche A Lender under this Agreement, and the assigning Tranche A Lender thereunder shall, to the extent of the interest assigned by such assignment and assumption agreement, be released from its obligations under this Agreement (and, in the case of an assignment and assumption agreement covering all of the assigning Tranche A Lender's rights and obligations under this Agreement, such Tranche A Lender shall cease to be a party hereto in such capacity) but shall continue to be entitled to the benefits of <u>Sections 2.6</u> and <u>11.7</u> with respect to facts and circumstances occurring prior to the effective date of such assignment. Any assignment or transfer by a Tranche A Lender of rights or obligations under this Agreement that does not comply with this <u>Section 11.6(b)</u> but does comply with <u>Section 11.6(d)</u> shall be treated for purposes of this Agreement as a sale by such Tranche A Lender of a participation in such rights and obligations in accordance with <u>Section 11.6(d)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Register</u>. Administrative Agent, acting solely for this purpose as a non-fiduciary agent of Parent, shall maintain at one of its offices in Chicago, Illinois a copy of each assignment and assumption agreement delivered to it and a register for the recordation of the names and addresses of the applicable Lenders, and the applicable principal amounts (and stated interest) of the applicable Loans owing to, each Lender pursuant to the terms hereof from time to time (the "<u>Register</u>"). The entries in the Register shall be conclusive absent manifest error, and Parent, Administrative Agent and the applicable Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement. The Register shall be available for inspection by Parent and Lenders, at any reasonable time and from time to time upon reasonable prior notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Participations</u>. Any Lender may at any time, without the consent of, or notice to, Parent or Administrative Agent, sell participations to any Eligible Assignee (it being understood and agreed that Administrative Agent shall have no liability or responsibility with respect to ensuring participations are not made to Disqualified Institutions) (each, a "<u>Participant</u>") in all or a portion of such Lender's rights or obligations under this Agreement (including all or a portion of its applicable Loans owing to it); <u>provided</u> that (i) such Lender's obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, and (iii) Parent, Administrative Agent and Lenders shall continue to deal solely and directly with such Lender in connection with such Lender's rights and obligations under this Agreement. For the avoidance of doubt, each Lender shall be responsible for the indemnity under <u>Section 2.12(d)</u> with respect to any payments made by such Lender to its Participant(s).

Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; <u>provided</u> that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver with respect to any amendment, modification or waiver that (x) reduces the principal of any Loan or the interest rate thereon; (y) extends any stated payment date for the payment of any principal of, or interest on, any Loan; or (z) releases all or substantially all of the Collateral or all or substantially all Obligors, in each case, to the extent it affects such Participant. Borrowers agree that each Participant shall be entitled to the benefits of <u>Sections 2.6</u> and <u>2.12</u> (subject to the requirements and limitations therein, including the requirements under <u>Section 2.12(g)</u> (it being understood that the documentation required under <u>Section 2.12(g)</u> shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to <u>Section 11.6(b)</u>; <u>provided</u> that such Participant (A) agrees to be subject to the provisions of <u>Section 2.12</u> as if it were an assignee under <u>Section 11.6</u>; and (B) shall not be entitled to receive any greater payment under <u>Section 2.12</u>, with respect to any participation, than its participating Lender would have been entitled to receive. Each Lender that sells a participation agrees, at Parent's request and Borrowers' joint and several expense, to use reasonable efforts to cooperate with Parent to effectuate the provisions of <u>Section 2.13(b)</u> with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of <u>Sections 10.11(a)</u> and <u>11.18(b)</u> as though it were a Lender; <u>provided</u> that such Participant agrees to be subject to <u>Sections 10.11</u> and <u>11.18</u> as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of Parent, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant's interest in the Loans or other obligations under the Loan Documents (the "<u>Participant Register</u>"); <u>provided</u> that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant's interest in any commitments, loans or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Certain Pledges</u>. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; <u>provided</u> that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Disqualified Institutions</u>. Administrative Agent shall not be responsible or have liability for, or have any duty to ascertain, inquire into, monitor or enforce, compliance with the provisions hereof relating to Disqualified Institutions. Without limiting the generality of the foregoing, Administrative Agent shall not (i) be obligated to ascertain, monitor or inquire as to whether any Lender is a Disqualified Institution or (ii) have any liability with respect to or arising out of any assignment or participation of Loans, or disclosure of confidential information, to any Disqualified Institution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.7 <u>General Indemnity</u>**. Each Obligor hereby agrees, jointly and severally, to indemnify and defend the Indemnitees against and to hold the Indemnitees harmless from any Indemnified Claim that may be instituted or asserted against or incurred by any of the Indemnitees. Without limiting the generality of the foregoing, this indemnity shall extend to any Indemnified Claims instituted or asserted against or incurred by any of the Indemnitees under any Environmental Laws or with respect to any Environmental Liability of any Obligor. The foregoing indemnities shall not apply to Indemnified Claims incurred by any Indemnitee as a result of its own gross negligence or willful misconduct as determined by a final non-appealable order of a court of competent jurisdiction. Notwithstanding anything to the contrary in any of the Loan Documents, the obligations of each Obligor with respect to each indemnity given by it in this Agreement or any of the other Loan Documents in favor of Administrative Agent and each Lender shall survive the payment in full of the Obligations and termination of the Loan Documents. This <u>Section 11.7</u> shall not apply to any Taxes (other than Taxes that represent Indemnified Claims resulting from a non-Tax claim).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.8 <u>Credit Inquiries</u>**. Each Obligor hereby authorizes Administrative Agent and Lenders (but they shall have no obligation) to respond to usual and customary credit inquiries from third parties concerning any Obligor or any Subsidiary thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.9 <u>Survival of Representations</u>**. All representations and warranties made in this Agreement and the other Loan Documents shall survive the making of any extension of credit hereunder and the delivery of any Note and shall continue in full force and effect until the full and final payment and performance of the Obligations and the termination of the Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.10 <u>Severability</u>**. Wherever possible, each provision of the Loan Documents shall be interpreted in such manner as to be valid under applicable law. If any provision is found to be invalid under applicable law, it shall be ineffective only to the extent of such invalidity and the remaining provisions of the Loan Documents shall remain in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.11 <u>Indulgences Not Waivers</u>**. The failure by Administrative Agent or any Lender at any time or times to require strict performance by each Obligor of any provision of this Agreement or any of the other Loan Documents shall not waive, affect or otherwise diminish any right of Administrative Agent or any Lender thereafter to demand strict compliance and performance with such provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.12 <u>Modification</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement and the other Loan Documents, together with all other instruments, agreements, and certificates executed by the parties in connection therewith or with reference thereto, embody the entire understanding and agreement between the parties hereto and thereto with respect to the subject matter hereof and thereof and supersede all prior agreements, understandings and inducements, whether express or implied, oral or written.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Neither this Agreement nor any other Loan Document, nor any terms hereof or thereof, may be amended, supplemented, modified or waived except (x) in accordance with the provisions of this <u>Section 11.12</u> or (y) as otherwise provided herein or in the other Loan Documents with respect to certain agreement, waiver and consent rights that may be exercised by Administrative Agent. Required Lenders may, or, with the prior written consent of Required Lenders, Administrative Agent may, from time to time, enter into with the relevant Obligors written amendments, supplements or modifications hereto and to the other Loan Documents for the purpose of adding any provisions to this Agreement or the other Loan Documents or changing in any manner the rights of Lenders or Obligors hereunder or thereunder, waive, on such terms and conditions as Required Lenders or Administrative Agent, as the case may be, may specify in such instrument, any of the requirements of this Agreement or the other Loan Documents or any Default or Event of Default and its consequences or consent to any acts or omissions of Obligors hereunder or under any other Loan Document that, but for such consent, would constitute a Default or Event of Default hereunder or thereunder; <u>provided</u> that no such waiver, amendment, supplement, modification, consent or waiver shall directly or indirectly:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) (A) reduce or forgive any portion of any Loan or extend the final scheduled maturity date of any Loan or reduce the stated interest rate (<u>provided</u> that only the consent of Administrative Agent shall be necessary to waive any obligation of Borrowers to pay interest at the Default Rate or amend <u>Section 2.5(b))</u> or (B) reduce or forgive any portion, or extend the date for the payment, of any interest or fee payable hereunder (other than as a result of (1) waiving the applicability of any post-default increase in interest rates or (2) a waiver or amendment by Administrative Agent of any mandatory prepayment of Loans or payment of any Make-Whole Amount (which shall not constitute an extension or postponement of any date for payment of principal, interest or fees other than any Make-Whole Amount or any forgiveness of any principal, interest or fees other than any Make-Whole Amount)), in each case without the written consent of each Lender directly and adversely affected thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) amend or modify any provisions of <u>Section 2.4(c)</u>, <u>2.4(d)</u>, <u>2.4(e)</u>, <u>2.4(f), 2.4(g)</u> or any Tranche B Note or any other provision that provides for the pro rata nature of disbursements by or payments to Lenders, in each case without the written consent of each Lender directly and adversely affected thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) amend, modify or waive any provision of this <u>Section 11.12</u> or reduce the percentages specified in the definitions of the term "Required Lenders" or consent to the assignment or transfer by any Obligor of its rights and obligations under any Loan Document to which it is a party (except as expressly permitted by this Agreement, including pursuant to <u>Section 7.1</u> or <u>7.4(b)</u>), in each case without the written consent of each Lender directly and adversely affected thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) increase the aggregate amount of any Loan Commitment of any Lender without the consent of such Lender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) amend, modify or waive any provision of <u>Section 10</u> without the written consent of the then-current Administrative Agent; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) release (A) any Borrower (except as expressly permitted by this Agreement, including pursuant to <u>Section 7.1</u> or <u>7.4(b)</u>), (B) all or substantially all Guarantors under <u>Section 9</u> (except as expressly permitted by this Agreement, including pursuant to <u>Section 7.1</u>, <u>7.4(b)</u> or <u>9</u>), or (C) any Liens in favor of Administrative Agent or Lenders on all or substantially all of the Collateral under the Loan Documents (except as expressly permitted thereby, including pursuant to <u>Section 7.1</u>, <u>7.4(b)</u> or <u>10.12</u>), in each case without the prior written consent of each Lender; and

<u>provided</u>, <u>further</u>, that notwithstanding anything to the contrary herein, (x) each Lender is entitled to vote as such Lender sees fit on any bankruptcy reorganization plan that affects the Loans, and each Lender acknowledges that the provisions of Section 1126(c) of the Bankruptcy Code supersedes the unanimous consent provisions set forth herein and (y) the Required Lenders shall determine whether or not to allow an Obligor to use cash collateral in the context of a bankruptcy or insolvency proceeding and such determination shall be binding on all Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.13 <u>Counterparts</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement may be executed in any number of counterpart signature pages, and by the different parties on different counterparts, each of which when executed shall be deemed an original but all such counterparts taken together shall constitute one and the same instrument. This Agreement will be deemed executed by the parties hereto when each has signed it and delivered its executed signature page to Administrative Agent by facsimile transmission, electronic transmission or physical delivery. This Agreement and the other Loan Documents constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or in electronic (e.g., "DocuSign," "pdf" or "tif") format shall be effective as delivery of a manually executed counterpart of this Agreement. No party hereto or to any other Loan Document shall raise the use of a facsimile machine or digital imaging and electronic mail to deliver a signature or the fact that any signature was transmitted or communicated through the use of a facsimile machine or digital imaging and electronic mail as a defense to the formation of a contract and each such party forever waives any such defense.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The words "execution," "signed," "signature," and words of like import in any Loan Document shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.14 <u>Governing Law; Consent to Forum</u>**. This Agreement and the other Loan Documents are intended to take effect as sealed instruments and shall be construed in accordance with and governed by the laws of the State of New York, without regard to the conflict of laws principles thereof, except to the extent otherwise provided in the Loan Documents. Each Obligor hereby consents to the non-exclusive jurisdiction of any United States federal court sitting in or with direct or indirect jurisdiction over the Southern District of New York or any state or superior court sitting in the State of New York, Borough of Manhattan, in any action, suit or other proceeding arising out of or relating to this Agreement or any of the other Loan Documents; and each Obligor irrevocably agrees that all claims and demands in respect of any such action, suit or proceeding may be heard and determined in any such court and irrevocably waives any objection it may now or hereafter have as to the venue of any such action, suit or proceeding brought in any such court or that such court is an inconvenient forum. Administrative Agent and each Lender reserves the right to bring proceedings against any Obligor in the courts of any other jurisdiction. Nothing in this Agreement or any other Loan Document shall be deemed or operate to affect the right of Administrative Agent or any Lender to serve legal process in any manner permitted by law or to preclude the enforcement by Administrative Agent or such Lender of any judgment or order obtained in such forum or the taking of any action under this Agreement or any other Loan Document to enforce same in any other appropriate forum or jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.15 <u>Waiver of Jury Trial and other Certain Rights</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) To the fullest extent permitted by applicable law, the parties hereto each hereby waive the right to trial by jury in any action, suit, counterclaim, crossclaim or proceeding arising out of or related to this Agreement, any of the other Loan Documents, the Obligations or the Collateral or any course of conduct, course of dealing, statements (whether verbal or written) or actions of any party with respect thereto. Each Obligor acknowledges and agrees that the foregoing waivers are a material inducement to Administrative Agent and Lenders to enter into and accept this Agreement. Each Obligor has reviewed the foregoing waivers with their respective legal counsel and have knowingly and voluntarily waived their respective jury trial rights following consultation with such legal counsel. In the event of litigation, this Agreement may be filed as a written consent to a trial by the court. This <u>Section 11.15</u> shall not restrict a party from exercising remedies under the UCC or from exercising pre-judgment remedies under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) To the fullest extent permitted by applicable law, each Obligor hereby knowingly, intentionally and intelligently waives (with the benefit of advice of legal counsel of its own choosing): (i) notice prior to taking possession or control of any of the Collateral and the requirement to deposit or post any bond or other security which might otherwise be required by any court or applicable law prior to allowing Administrative Agent or any Lender to exercise any of such Person's self-help or judicial remedies to obtain possession of any of the Collateral; (ii) any claim against Administrative Agent or any Lender on any theory of liability, for special, indirect, consequential, exemplary or punitive damages arising out of, in connection with or as a result of any of the Loan Documents, any transaction thereunder, the enforcement of any remedies by Administrative Agent or any Lender or the use of any proceeds of any loans; and (iii) notice of acceptance of this Agreement by Administrative Agent or any Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.16 <u>Additional Waivers</u>**. The rights and remedies of Administrative Agent and each Lender under this Agreement and the other Loan Documents shall be cumulative and not exclusive of any rights or remedies which it would otherwise have. Any waiver or indulgence granted by Administrative Agent or any Lender shall not constitute a modification of this Agreement or any other Loan Document, except to the extent expressly provided in such waiver or indulgence, or constitute a course of dealing by Administrative Agent or any Lender at variance with the terms of this Agreement or any other Loan Document such as to require further notice by Administrative Agent or any Lender of Administrative Agent's or such Lender's intent to require strict adherence to the terms of such Loan Document in the future. Any such actions shall not in any way affect the ability of each of Administrative Agent and Lenders, in its discretion, to exercise any rights available to it under this Agreement, under the other Loan Documents or under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.17 <u>No Third-Party Beneficiaries</u>**. Neither (a) any stockholder or owner of any other Equity Interest in any Obligor, (b) any employee or creditor of any Obligor (other than Administrative Agent, Lenders and their respective Affiliates), nor (c) any other Person claiming by or through any Obligor shall be entitled to rely on this Agreement or any other Loan Document or have any rights, remedies or claims against Administrative Agent, any Lender or any Affiliate thereof under or in connection with this Agreement or any other Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.18 <u>Adjustments; Set-off</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If any Lender (each, a "<u>Benefited Lender</u>") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in <u>Section 8.1(e)</u>, or otherwise), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans or interest thereon, such Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loans, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the other Lenders; <u>provided</u> that if all or any portion of such excess payment or benefits is thereafter recovered from such Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The foregoing provisions of this <u>Section 11.18</u> shall not apply to payments made and applied in accordance with the terms of this Agreement and the other Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) After the occurrence and during the continuance of an Event of Default, to the extent consented to by Administrative Agent in its discretion, in addition to any rights and remedies of Lenders provided by law, each Lender shall have the right, without prior notice to any Borrower, any other Obligor, any such notice being expressly waived by Obligors to the extent permitted by applicable law, upon any amount becoming due and payable by any Obligor hereunder (whether at the stated maturity, by acceleration or otherwise) to set-off and appropriate and apply against such amount any and all deposits (general or special, time or demand, provisional or final, but excluding deposit accounts that consist of cash collateral subject to Permitted Liens), and any other credits, indebtedness or claims, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by such Lender or any branch or agency thereof to or for the credit or the account of any Obligor, as the case may be. Each Lender agrees promptly to notify Administrative Agent after any such set-off and application made by such Lender; <u>provided</u> that the failure to give such notice shall not affect the validity of such set-off and application.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.19 <u>Time is of the Essence</u>**. Time is of the essence of this Agreement and the other Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.20 <u>Reviewed by Attorneys</u>**. Each Obligor represents and warrants that it (a) understands fully the terms of this Agreement and the consequences of the execution and delivery hereof, (b) has been afforded an opportunity to have this Agreement reviewed by, and to discuss the same with, such attorneys and other persons as such Obligor may wish, (c) has exercised independent judgment with respect to this Agreement and the other Loan Documents, (d) has not relied on any Secured Creditor or on any Secured Creditor's counsel for any advice with respect to this Agreement or the other Loan Documents and (e) has entered into this Agreement of its own free will and accord and without threat, duress or other coercion of any kind by any Person. Each Obligor acknowledges and agrees that this Agreement shall not be construed more favorably in favor of any Obligor, on the one hand, or any Secured Creditor, on the other hand, based upon which party drafted the same, it being acknowledged that Secured Creditors, Obligors contributed substantially to the negotiation and preparation of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.21 <u>PATRIOT Act</u>**. Each Lender hereby notifies each Obligor that it may be required to obtain, verify and record information that identifies each Obligor pursuant to the requirements of the PATRIOT Act, which information includes the name and address of such Obligor and other information that will allow such Lender to identify such Obligor in accordance with the PATRIOT Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.22 <u>Cannabis Laws</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The parties acknowledge that although certain US State Cannabis Laws have legalized the cultivation, distribution, sale and possession of cannabis and related products, (a) the nature and scope of US Federal Cannabis Laws may result in circumstances where activities permitted under US State Cannabis Laws may contravene US Federal Cannabis Laws, and (b) engagement in Restricted Cannabis Activities may also contravene US Federal Cannabis Laws. It is acknowledged that, as of the Closing Date, US State Cannabis Laws as in effect in the State of Colorado and the State of New Mexico contravene US Federal Cannabis Laws. Accordingly, for the purposes of this Agreement and the other Loan Documents, each representation, covenant and other provision hereof or thereof relating to compliance with applicable law will be subject to the following qualifications: (i) no representation, warranty, covenant or other agreement is made, or deemed to be made, with respect to compliance with, or application of, any US Federal Cannabis Law to the extent such US Federal Cannabis Law relates, directly or indirectly, to the unlawful nature of Cannabis Businesses; (ii) engagement in any activity that is permitted by US State Cannabis Laws but contravenes US Federal Cannabis Laws will not, in and of itself, be deemed to be non-compliance with applicable law; and (iii) engagement in any Restricted Cannabis Activity will be deemed to be non-compliance with applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Other than in connection with a Change of Law, if necessary to comply with applicable US State Cannabis Law, the parties hereby agree to (and to cause their respective assigns, participants, and Affiliates and related parties and representatives to) (i) provide Obligors with all applicable information required to be submitted by Obligors to the applicable Licensing Divisions pursuant to US State Cannabis Laws in connection with this Agreement, the Loan Documents, and the transactions contemplated hereby, and (ii) use their respective commercially reasonable efforts to cooperate with Licensing Divisions to promptly respond to any informational requests, supplemental disclosure requirements, or other correspondence from such Licensing Division and, to the extent permitted by such Licensing Division, keep all other parties hereto fully and promptly informed as to any such requests, requirements, or correspondence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If a Change in Law occurs:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Administrative Agent, Lenders, and Parent shall seek to come to a mutual agreement with respect to addressing such Change in Law for a period of 30 days (or such longer period of time to which Administrative Agent agrees in its discretion) (the "<u>Discussion Period</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To the extent no such mutual agreement is achieved during the Discussion Period, Obligors shall have until the later of (A) the date that is 90 days after the end of the Discussion Period, or such later date as is necessary to complete the refinancing of the Loans in a reasonable amount of time, so long as (1) Obligors have executed, or are in the process of negotiating in good faith, a bona fide and enforceable term sheet with respect to the refinancing of the Loans, and (2) such later date could not reasonably be expected to result in adverse consequences determined by Administrative Agent or any Lender to be material in relation to the Governmental Authority implementing such Change in Law, and (B) such other date as allowed by such Governmental Authority for the parties to become compliant with the US State Cannabis Law or US Federal Cannabis Law so changed, to repay the Obligations in full and in cash; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Notwithstanding anything herein or in any other Loan Document to the contrary, no Change in Law or any Default or Event of Default resulting solely and directly from such Change in Law shall be deemed to be an Event of Default; <u>provided</u> that, for the avoidance of doubt, any failure to make any payment required by this <u>Section 11.22</u> and any engagement in any Restricted Cannabis Activity shall, in each case, constitute an immediate Event of Default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) No party shall have any right of rescission or amendment arising out of or relating to any non-compliance of this Agreement or any other Loan Document with US Federal Cannabis Laws that exist on the Closing Date.

[Remainder of page intentionally left blank.]

**IN WITNESS WHEREOF**, the parties hereto have caused this Agreement to be executed as of the date first set forth above.

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| | |
|:---|:---|
| **<u>BORROWER</u>:** | **<u>BORROWER</u>:** |
| VIREO HEALTH OF ROCKY MOUNTAIN, LLC | VIREO HEALTH OF ROCKY MOUNTAIN, LLC |
| By: | /s/ John Mazarakis |
| Name: | John Mazarakis |
| Title: | Chief Executive Officer |
| **<u>GUARANTORS</u>:** | **<u>GUARANTORS</u>:** |
| VIREO HEALTH OF CO, LLC | VIREO HEALTH OF CO, LLC |
| VIREO HEALTH OF NM, LLC | VIREO HEALTH OF NM, LLC |
| By: Vireo Health of Rocky Mountain, LLC, as Sole Member | By: Vireo Health of Rocky Mountain, LLC, as Sole Member |
| By: | /s/ John Mazarakis |
| Name: | John Mazarakis |
| Title: | Chief Executive Officer |
| VIREO HEALTH OF DENVER METRO, LLC | VIREO HEALTH OF DENVER METRO, LLC |
| VIREO HEALTH OF FOOTHILLS, LLC | VIREO HEALTH OF FOOTHILLS, LLC |
| VIREO HEALTH OF NOCO, LLC | VIREO HEALTH OF NOCO, LLC |
| VIREO HEALTH OF SOCO, LLC | VIREO HEALTH OF SOCO, LLC |
| VIREO HEALTH OF MILE HIGH, LLC | VIREO HEALTH OF MILE HIGH, LLC |
| VIREO HEALTH OF WESTERN SLOPE, LLC | VIREO HEALTH OF WESTERN SLOPE, LLC |
| VIREO HEALTH OF DTC, LLC | VIREO HEALTH OF DTC, LLC |
| By: Vireo Health of CO, LLC, as Sole Member | By: Vireo Health of CO, LLC, as Sole Member |
| By: Vireo Health of Rocky Mountain, LLC, as Sole Member | By: Vireo Health of Rocky Mountain, LLC, as Sole Member |
| By: | /s/ John Mazarakis |
| Name: | John Mazarakis |
| Title: | Chief Executive Officer |
| VIREO HEALTH OF LAS CRUCES, LLC | VIREO HEALTH OF LAS CRUCES, LLC |
| VIREO HEALTH OF SANTA FE, LLC | VIREO HEALTH OF SANTA FE, LLC |
| By: Vireo Health of NM, LLC, as Sole Member | By: Vireo Health of NM, LLC, as Sole Member |
| By: Vireo Health of Rocky Mountain, LLC, as Sole Member | By: Vireo Health of Rocky Mountain, LLC, as Sole Member |
| By: | /s/ John Mazarakis |
| Name: | John Mazarakis |
| Title: | Chief Executive Officer |

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Loan and Security Agreement

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| | |
|:---|:---|
| **<u>ADMINISTRATIVE AGENT AND LENDERS</u>:** | **<u>ADMINISTRATIVE AGENT AND LENDERS</u>:** |
| **CHICAGO ATLANTIC FINANCIAL SERVICES, LLC,** as Administrative Agent | **CHICAGO ATLANTIC FINANCIAL SERVICES, LLC,** as Administrative Agent |
| By: | /s/ Peter Sack |
| Name: | Peter Sack |
| Title: | Authorized Person |
| **CHICAGO ATLANTIC OPPORTUNITY FINANCE, LLC,** as a Lender | **CHICAGO ATLANTIC OPPORTUNITY FINANCE, LLC,** as a Lender |
| By: | /s/ Peter Sack |
| Name: | Peter Sack |
| Title: | Authorized Person |
| **CO ACQUISITION VEHICLE LLC,** as a Lender | **CO ACQUISITION VEHICLE LLC,** as a Lender |
| By: | /s/ John Mazarakis |
| Name: | John Mazarakis |
| Title: | Chief Executive Office |

---

Loan and Security Agreement

## Exhibit 99.1

**Exhibit 99.1**

![](tm269781d1_ex99-1img001.jpg)

**Vireo Growth Inc. Announces Closing of Acquisition of Assets of Schwazze**

*– Vireo acquires 24 dispensaries in Colorado, 21 dispensaries in New Mexico and 1 <br> manufacturing facility in each of Colorado and New Mexico at an assumed share price of $0.661*

*– Justin Dye to become Chairman of Vireo's Colorado and New Mexico business*

*– Forrest Hoffmaster announced as CEO of Vireo's Colorado and New Mexico business*

**MINNEAPOLIS – March 24, 2026** – Vireo Growth Inc. ("Vireo" or the "Company") (CSE: VREO; OTCQX: VREOF) today announced the closing of its previously disclosed acquisition of certain assets of U.S. multi-state cannabis operator Medicine Man Technologies, Inc. (dba "Schwazze").

John Mazarakis, Chief Executive Officer of Vireo, commented, "We are pleased to announce the closing of the acquisition of the Schwazze assets. This transaction represents a meaningful step in the continued execution of our disciplined growth strategy, enabling Vireo to expand its presence in key markets through the acquisition of established retail operations at an implied estimated valuation of under 4x pro forma EBITDA. We believe this attractive entry point reflects current market conditions and underscores our focus on capital-efficient growth.

We are honored to partner with Justin Dye, Forrest Hoffmaster, Collin Lodge, and the broader Colorado and New Mexico Schwazze team. Their operational expertise and strong retail focus complement Vireo's platform, and we look forward to working together to enhance performance across the combined footprint. This acquisition represents an initial step toward a broader strategy to build a scaled retail presence in Colorado and New Mexico, which could grow to over 75 dispensaries over time, subject to market conditions, regulatory approvals, and capital availability. We are pleased to welcome the Schwazze team and their established network of retail dispensaries to Vireo."

Forrest Hoffmaster, who will be Chief Executive Officer of Vireo's Colorado and New Mexico-focused businesses, added, "This transaction marks the beginning of a new chapter for the Schwazze team. We are proud to contribute our capabilities to Vireo's growing platform and remain committed to serving our customers in Colorado and New Mexico with the high-quality products and experiences they expect."

**About Vireo Growth Inc.**

Vireo was founded in 2014 as a pioneering medical cannabis company. Vireo is building a disciplined, strategically aligned, and execution-focused platform in the industry. This strategy drives our intense local market focus while leveraging the strength of a national portfolio. We are committed to hiring industry leaders and deploying capital and talent where we believe it will drive the most value. Vireo operates with a long-term mindset, a bias for action, and an unapologetic commitment to its customers, employees, shareholders, industry collaborators, and the communities it serves. For more information about Vireo, visit <u>www.vireogrowth.com</u>.

**Contact Information**

Joe Duxbury

*Chief Accounting Officer*

investor@vireogrowth.com

**Forward-Looking Statement Disclosure**

This press release contains "forward-looking information" within the meaning of applicable United States and Canadian securities legislation. To the extent any forward-looking information in this press release constitutes "financial outlooks" within the meaning of applicable United States or Canadian securities laws, this information is being provided as preliminary financial results; the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such financial outlooks. Forward-looking information contained in this press release may be identified by the use of words such as "should," "believe," "estimate," "would," "looking forward," "may," "continue," "expect," "expected," "will," "likely," "subject to," and variations of such words and phrases, or any statements or clauses containing verbs in any future tense and includes statements regarding (i) the Company's future product portfolio and its plans related thereto; (ii) future growth opportunities for the Company; (iii) the Company's enhanced performance over the combined footprint with the Schwazze assets; (iv) the Company's plans to build a scaled retail presence in Colorado and New Mexico, which could grow to over 75 dispensaries over time; and (v) other statements that are not historical facts. These statements should not be read as guarantees of future performance or results. Forward-looking information includes both known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company or its subsidiaries to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements or information contained in this press release. Forward-looking information is based upon a number of estimates and assumptions of management, believed but not certain to be reasonable, in light of management's experience and perception of trends, current conditions, and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment, and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, the reader should not place undue reliance on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to: risks involved with the adverse impact of the acquisition of the Schwazze assets on the Company's business, financial condition, and results of operations; the Company's ability to maintain relationships with suppliers, customers, employees and other third parties as a result of the acquisition of the Schwazze assets; the effects of the acquisition of the Schwazze assets on the Company and the interests of various constituents; risks and uncertainties associated with the acquisition of the Schwazze assets, some of which are beyond the Company's control; the nature, cost, impact and outcome of pending and future litigation, other legal or regulatory proceedings, or governmental investigations and actions; risks related to the timing and content of adult-use legislation in markets where the Company currently operates; current and future market conditions, including the market price of the subordinate voting shares of the Company; risks related to epidemics and pandemics; federal, state, local, and foreign government laws, rules, and regulations, including federal and state laws and regulations in the United States relating to cannabis operations in the United States and any changes to such laws or regulations; operational, regulatory and other risks; execution of business strategy; management of growth; difficulties inherent in forecasting future events; conflicts of interest; risks inherent in an agricultural business; risks inherent in a manufacturing business; liquidity and the ability of the Company to raise additional financing to continue as a going concern; the Company's ability to meet the demand for flower in its various markets;; our ability to dispose of our assets held for sale at an acceptable price or at all; and risk factors set out in the Company's Form 10-K for the year ended December 31, 2025, which is available on EDGAR with the U.S. Securities and Exchange Commission and filed with the Canadian securities regulators and available under the Company's profile on SEDAR+ at <u>www.sedarplus.com</u>.

The statements in this press release are made as of the date of this release. Except as required by law, we undertake no obligation to update any forward-looking statements or forward-looking information to reflect events or circumstances after the date of such statements.