Document:

Exhibit 10.1

 

SUBSCRIPTION
AGREEMENT

 

THIS
SUBSCRIPTION AGREEMENT (this “Agreement”), dated as of August 17, 2016, is by and between JErrick
MEDIA HOLDINGS, Inc, a corporation incorporated under the laws of the State of Nevada and located at 202 S Dean Street,
Englewood NJ 07631 (the “Company”), and_________________________,
an individual residing at _____________________________________ (the “Subscriber”).

 

WHEREAS,
the Company and Subscriber are executing and delivering this Agreement in reliance upon an exemption from securities registration
afforded by the provisions of Section 4(2) and/or Regulation D (“Regulation D”) promulgated by the United States
Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “Securities
Act”); and

 

WHEREAS,
the parties hereto desire that, upon the terms and subject to the conditions contained herein and upon the date hereof (the “Funding
Date”), the Company shall issue to the Subscriber (1) six hundred sixty six thousand six hundred sixty six (666,666)
shares (the “Shares”) of the Company’s common stock, par value $0.001 (“Common Stock”) and (2) a
warrant to purchase three hundred thirty three thousand three hundred thirty three (333,333) shares of Common Stock (the “Warrant”)
(the Shares and the Warrant shall be referred to collectively herein as the “Securities”).

 

NOW,
THEREFORE, in consideration of the mutual covenants and other agreements contained in this Agreement, the Company and Subscriber
hereby agree as follows:

 

1. Purchase
and Sale. Upon the terms and subject to the conditions set forth in this Agreement and in consideration of Two Hundred
Fifty Thousand United States Dollars (US$250,000) (the “Purchase Price”) delivered by the Subscriber to
the Company on the Funding Date, the Company hereby agrees to issue the Shares and the Warrant to the Subscriber on the
Funding Date. The Company agrees to issue and deliver the Securities to the Subscriber free of all liens, pledges, mortgages,
security interests, charges, restrictions, adverse claims or other encumbrances of any kind or nature whatsoever
(“Encumbrances”), and Subscriber hereby agrees to accept the Securities free of all
Encumbrances.

 

2.Subscriber
Representations and Warranties. Subscriber hereby represents and warrants to and agrees with the Company that:

 

(a)Standing
of Subscriber. Subscriber has the legal capacity and power to enter into this Agreement.

 

(b)Authorization
and Power. Subscriber has the requisite power and authority to enter into and perform this Agreement and to advance the Purchase
Price and accept the Securities. The execution, delivery and performance of this Agreement by the Subscriber, and the consummation
by the Subscriber of the transactions contemplated hereby, have been duly authorized by all necessary action, and no further consent
or authorization of Subscriber is required. This Agreement has been duly authorized, executed and delivered by the Subscriber
and constitutes, or shall constitute, when executed and delivered, a valid and binding obligation of the Subscriber, enforceable
against Subscriber in accordance with the terms hereof.

 

    	 		 

     

    

 

(c)Information
on Subscriber. Subscriber is an “accredited investor,” as such term is defined in Regulation D promulgated by
the Commission under the 1933 Act, is experienced in investments and business matters, has made investments of a speculative nature
and has purchased securities of United States publicly-owned companies in private placements in the past and, with its representatives,
has such knowledge and experience in financial, tax and other business matters as to enable the Subscriber to utilize the information
made available by the Company to evaluate the merits and risks of, and to make an informed investment decision with respect to,
the proposed purchase, which the Subscriber hereby agrees represents a speculative investment. The Subscriber has the authority
and is duly and legally qualified to purchase and own the Securities. The Subscriber is able to bear the risk of such investment
for an indefinite period and to afford a complete loss thereof.

 

(d)Purchase
of Securities. The Subscriber will purchase the Securities for its own account for investment and not with a view toward,
or for resale in connection with, the public sale or any distribution thereof in violation of the Securities Act or any applicable
state securities law, and has no direct or indirect arrangement or understandings with any other person or entity to distribute
or regarding the distribution of such Securities;

 

(e)Compliance
with Securities Act. The Subscriber understands and agrees that the Securities have not been registered under the 1933 Act
or any applicable state securities laws by reason of their issuance in a transaction that does not require registration under
the 1933 Act (based in part on the accuracy of the representations and warranties of Subscriber contained herein), and that such
Securities must be held indefinitely unless a subsequent disposition is registered under the 1933 Act or any applicable state
securities laws or is exempt from such registration.

 

(f)Share
Legend. The Shares shall bear the following or similar legend:

 

“THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED
BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR APPLICABLE STATE SECURITIES LAWS.
THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION
STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE
SELECTED BY THE HOLDER AND REASONABLY APPROVED BY THE COMPANY), IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED
UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES
MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

 

    	 	2	 

     

    

 

(g)Warrant
Legend. The Warrant shall bear the following or similar legend.

 

NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. 

 

(h)Communication
of Offer. Subscriber has a preexisting personal or business relationship with the Company or one or more of its directors,
officers, advisors or control persons, and the offer to issue the Securities was directly communicated to Subscriber by the Company.
At no time was Subscriber presented with or solicited by any leaflet, newspaper or magazine article, radio or television advertisement,
or any other form of general advertising or solicited or invited to attend a promotional meeting otherwise than in connection
and concurrently with such communicated offer;

 

(i)No
Governmental Endorsement. Subscriber understands that no United States federal or state agency or any other governmental or
state agency has passed on or made recommendations or endorsement of the Securities, or the suitability of the investment in the
Securities, nor have such authorities passed upon or endorsed the merits of the offering of the Securities;

 

(j)Receipt
of Information. Subscriber believes it has received all the information it considers necessary or appropriate for deciding
whether to invest and to accept the Securities. Subscriber further represents that through its representatives it has had an opportunity
to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the Securities and
the business, properties and financial condition of the Company and to obtain additional information (to the extent the Company
possessed such information or could acquire it without unreasonable effort or expense) necessary to verify the accuracy of any
information furnished to it or to which it had access; and

 

3.Company
Representations and Warranties. The Company represents and warrants to, and agrees with, Subscriber that:

 

(a)Due
Incorporation. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of the
jurisdiction of its incorporation;

 

    	 	3	 

     

    

 

(b)Authority;
Enforceability. The Warrant has been duly authorized, executed and delivered by the Company and is the valid and binding agreements
of the Company, enforceable in accordance with its terms, except as may be limited by bankruptcy, insolvency, moratorium or other
similar laws affecting the enforcement of creditors’ rights generally, or principles of equity. The Company has full corporate
power and authority necessary to enter into and deliver the Warrant and to perform its obligations thereunder;

 

(c)Additional
Issuances. All of the shares to be issued pursuant to the terms hereof will be, duly authorized and validly issued, fully
paid and non-assessable and are not (and will not be) subject to preemptive or similar rights affecting such securities.

 

(d)Consents.
No consent, approval, authorization or order of any court, governmental agency or body having jurisdiction over the Company or
of any other person is required for the execution by the Company of the Warrant and compliance and performance by the Company
of its obligations hereunder and thereunder, including, without limitation, the issuance of the Securities;

 

(e)No
Violation or Conflict. Neither the issuance of the Shares nor the performance of the Company’s obligations under the
Warrant will:

 

(i)
violate, conflict with, result in a breach of, or constitute a default (or an event which with the giving of notice or the lapse
of time or both would be reasonably likely to constitute a default) under (a) the charter or bylaws of the Company or (b) any
decree, judgment, order or determination applicable to the Company of any court, governmental agency or body having jurisdiction
over the Company or over the properties or assets of the Company; or

 

(ii)
result in the creation or imposition of any lien, charge or encumbrance upon the Securities except in favor of Subscriber as described
herein;

 

(f)No
General Solicitation. Neither the Company, nor any of its affiliates, nor any person or entity acting on its or their behalf,
has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D under the Securities
Act) in connection with the offer or sale of the Securities; and

 

(g)Investment
Company. The Company is not an “investment company” within the meaning of the Investment Company Act of 1940,
as amended.

 

4.
“Piggy-Back” Registration.

 

(a)Grant
of Right. The Subscriber shall have the right to include the Shares and any shares of Common Stock underlying the Warrant
(the “Warrant Shares”) as part of any registration of securities filed by the Company (other than in connection with
a transaction contemplated by Rule 145 promulgated under the Act or pursuant to Form S-8 or any equivalent form) provided,
however, that if, solely in connection with any primary underwritten public offering for the account of the Company, the
managing underwriter(s) thereof shall, in its reasonable discretion, impose a limitation on the number of shares of Common Stock
which may be included in a registration statement because, in such underwriter(s)’ judgment, marketing or other factors
dictate such limitation is necessary to facilitate public distribution, then the Company shall be obligated to include in such
registration statement only such limited portion of the Shares and Warant Shares with respect to which the Holder requested inclusion
hereunder as the underwriter shall reasonably permit. The Company shall not exclude any Shares or Warrant Shares unless the Company
has first excluded all outstanding securities, the holders of which are not entitled to inclusion of such securities in such registration
statement or are not entitled to pro rata inclusion with the Shares or Warrant Shares.

 

    	 	4	 

     

    

 

(b)Terms.
The Company shall bear all fees and expenses attendant to registering the Shares and Warrant Shares pursuant to Section 4 (a)
hereof, but the Subscriber shall pay any and all underwriting commissions and the expenses of any legal counsel selected by
the Subscriber to represent him/her in connection with the sale of the Shares and Warrant Shares. Except as otherwise provided
in this Subscription Agreement, there shall be no limit on the number of times the Subscriber may request registration under this
Section 4 (a); provided, however, that such registration rights related to the Shares shall terminate on the second anniversary
hereof.

 

5.Broker’s
Commission/Finder’s Fee. Each party hereto represents to the other that there are no parties entitled to receive fees,
commissions, finder’s fees, due diligence fees or similar payments in connection with the consummation of the transactions
contemplated hereby. Each party hereto agrees to indemnify the other against and hold the other harmless from any and all liabilities
to any persons claiming brokerage commissions or similar fees on account of services purported to have been rendered on behalf
of the indemnifying party in connection with this Agreement or the transactions contemplated hereby and arising out of the indemnifying
party’s actions.

 

6.Covenants
Regarding Indemnification. Each party hereto agrees to indemnify, hold harmless, reimburse and defend the other party and
the other party’s officers, directors, agents, counsel, affiliates, members, managers, control persons, and principal shareholders,
as applicable, against any claim, cost, expense, liability, obligation, loss or damage (including reasonable legal fees) of any
nature, incurred by or imposed upon the indemnified party or any such person which results, arises out of or is based upon (i)
any breach of any representation or warranty by the indemnifying party in this Agreement or (ii) any breach or default in performance
by the indemnifying party of any covenant or undertaking to be performed by the indemnifying party.

 

7.Miscellaneous.

 

(a)Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted
by hand delivery or facsimile, addressed as set forth in the preamble paragraph hereto or to such other address as such party
shall have specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder
shall be deemed effective (a) upon hand delivery at the address designated in the preamble paragraph hereto (if delivered on a
business day during normal business hours where such notice is to be received), or the first business day following such delivery
(if delivered other than on a business day during normal business hours where such notice is to be received) or (b) on the second
business day following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual
receipt of such mailing, whichever shall first occur.

 

    	 	5	 

     

    

 

(b)Entire
Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof
and may be amended only by a writing executed by both parties hereto. Neither the Company nor Subscriber has relied on any representations
not contained or referred to in this Agreement and the documents delivered herewith.

 

(c)Counterparts/Execution.
This Agreement may be executed in any number of counterparts and by the different signatories hereto on separate counterparts,
each of which, when so executed, shall be deemed an original, but all such counterparts shall constitute but one and the same
instrument. This Agreement may be executed by facsimile transmission, PDF, electronic signature or other similar electronic means
with the same force and effect as if such signature page were an original thereof.

 

(d)Law
Governing this Agreement. This Agreement shall be governed by and construed in accordance with the laws of the State of New
York without regard to principles of conflicts of laws. Any action brought by either party hereto against the other concerning
the transactions contemplated by this Agreement shall be brought only in the state courts of the State of New Jersey or in the
federal courts located in the State of New Jersey. The parties to this Agreement hereby irrevocably waive any objection to jurisdiction
and venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction or venue or based
upon forum non conveniens. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST,
A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR
ANY TRANSACTION CONTEMPLATED HEREBY. 

 

(e) Severability.
In the event that any provision of this Agreement or any other agreement delivered in connection herewith is invalid
or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent
that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision
which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision
of any agreement. Each party hereto hereby irrevocably waives personal service of process and consents to process being
served in any suit, action or proceeding in connection with this Agreement by mailing a copy thereof via registered or
certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it
under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof.
Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted
by law.

 

(f)Counsel;
Ambiguities. Each party and its counsel have participated fully in the review and revision of this Agreement, the Warrant
and any documents executed in connection therewith. The parties understand and agree that any rule of construction to the effect
that ambiguities are to be resolved against the drafting party shall not apply in interpreting this Agreement, the Warrant and
any documents executed in connection therewith. The language in this Agreement, the Warrant and any documents executed in connection
therewith shall be interpreted as to its fair meaning and not strictly for or against any party.

 

(g)Captions.
The captions of the various sections and paragraphs of this Agreement have been inserted only for the purposes of convenience;
such captions are not a part of this Agreement and shall not be deemed in any manner to modify, explain, enlarge or restrict any
of the provisions of this Agreement.

 

[signature
page follows]

 

    	 	6	 

     

    

 

IN
WITNESS WHEREOF, the parties has caused this Agreement to be executed on and as of the date set forth above.

 

	 	JERRICK MEDIA HOLDINGS, INC.
	 	 	 
	 	By: 	 
	 	Name:	Jeromy Frommer
	 	Title:	Chief
    Executive Officer

 

	SUBSCRIBER:	 
	 	 
	Name of Subscriber: 	 
	 	 
	 	 
	 	 
	Address: 	 
	 	 
	 	 
	 	 
	 	 

 

	Fax No.: 	 	 

 

	Taxpayer ID# (if applicable): 	 	 

 

	 	 
	(Signature)	 

 

	By: 	 	 

 

	Dated: ___________________________, 2016	 

 

[Signature
Page to Jerrick Media Holdings, Inc. Subscription Agreement]

 

    	 	7	 

     

    

 

EXHIBIT
A

 

INVESTOR
QUESTIONAIREex4-2.htm

Exhibit 4.2

 

	  	Loan Agreement  
	  	  
	  	
 

	  	  
	  	
Arowana International Limited (ABN 83 103 472 751)

(Lender)

	 	 
	  	
VivoPower International Services Limited (Jersey Company Number 121017)

(Borrower)

  

 

 

 

Loan Agreement

  

Contents

 

	
1. 
	
Definitions and Interpretation
	
 2

	
 
	
 
	
 

	
2. 
	
Loan
	
 4

	
 
	
 
	
 

	
3. 
	
Interest 
	
 4

	
 
	
 
	
 

	
4. 
	
Repayment of Loan Balance and Interest
	
 4

	
 
	
 
	
 

	
5. 
	
Events of Default
	
 4

	
 
	
 
	
 

	
6. 
	
Use of the Loan
	
 5

	
 
	
 
	
 

	
7. 
	
Notices
	
 5

	
 
	
 
	
 

	
8. 
	
Governing law and jurisdiction 
	
 6

	
 
	
 
	
 

	
9. 
	
Costs and Stamp Duty
	
 7

	
 
	
 
	
 

	
Signing Page  
	
 8

 

 

i 

 

Loan Agreement

 

	
Date
	
10 February 2016

	  	  
	 	 
	
Parties
	  
	 	 
	
Name
	
Arowana International Limited

	
ABN
	
83 103 472 751

	
Description
	
Lender

	
Notice details
	
Level 11, 153 Walker Street

North Sydney NSW 2060

Australia

Facsimile: +61 2 8083 9804

	  	
Email: conorb@arowanaco.com

	  	
Attention: Conor Byrne

	 	 

 

	
Name
	
VivoPower International Services Limited

	
Jersey Company Number
	
121 017

	
Description
	
Borrower

	
Notice details
	
3rd Floor, 37 Esplanade

St Helier, Jersey JE2 3QA

Facsimile: 

	  	
Email: Julie-anne.byrne@vivopower.com

	  	
Attention: Julie-Anne Byrne

 

	  	  
	
Background

	 

	
A.
	
The Lender has agreed to loan the Principal Sum to the Borrower on the terms and conditions set out in this Agreement.

 

	
B.
	
This Agreement is intended to be legally binding and the parties agree to give effect to the arrangements contemplated by it.

  

 

1

 

Loan Agreement

  

Agreed Terms

 

	
1.
	
Definitions and Interpretation

 

	
1.1
	
Definitions

 

In this Agreement:

 

Act means the Corporations Act 2001 (Cth) as in force from time to time. 

 

Agreement means this agreement and any schedules and annexures attached to this agreement, as amended by the parties in writing.

 

Business Day means a day on which banks are open for general banking business in Sydney, excluding Saturdays, Sundays or public holidays in Sydney.

 

Drawdown Date means 10 February 2016.

 

Event of Default means any of the events or circumstances described in clause 5.2.

 

Immediately Available Funds means cash, bank cheque or electronic funds transfer. 

 

Interest Rate on any date for the determination of interest under this Agreement, means 6% p.a.

 

Government Agency means any government or governmental, semi governmental, administrative, fiscal or judicial body, department, commission, authority, tribunal, agency or entity whether foreign, federal, state, territorial or local.

 

Loan means the advances made under clauses 2.1 and 2.2.

 

Loan Balance means the aggregate of all amounts advanced under clauses 2.1 and 2.2 and not yet repaid by the Borrower to the Lender.

 

Principal Sum means AU$450,000

 

Repayment Date means that date which is the last day of the Term, provided that in the event that such date is not a Business Day, the Repayment Date will be the last Business Day prior to that date. 

 

Term means the period of 1 year commencing on the Drawdown Date.

 

	
1.2
	
Interpretation

 

In this Agreement headings are for convenience only and do not affect the interpretation of this Agreement and, unless the context otherwise requires:

 

	 	
(a)
	
words importing the singular include the plural and vice versa;

 

	 	
(b)
	
words importing a gender include any gender;

  

 

2

 

Loan Agreement

 

	 	
(c)
	
where a word or phrase is given a particular meaning, other parts of speech and grammatical forms of a word or phrase defined in this Agreement have a corresponding meaning;

 

	 	
(d)
	
an expression importing a natural person includes any individual, company, partnership, joint venture, association, corporation or other body corporate and any Government Agency;

 

	 	
(e)
	
no provision of this Agreement will be construed adversely to a party solely on the ground that the party was responsible for the preparation of this Agreement or that provision;

 

	 	
(f)
	
an agreement, representation or warranty on the part of or in favour of two or more persons binds or is for the benefit of them jointly and severally;

 

	 	
(g)
	
when the day on which something must be done is not a Business Day, that thing must be done on the following Business Day;

 

	 	
(h)
	
in determining the time of day where relevant to this Agreement, the relevant time of day is the time of day in the place where the party required to perform the obligation is located; and

 

	 	
(i)
	
a reference to:

 

	 	
(i)
	
any thing (including any right) includes a part of that thing but nothing in this clause Error! Reference source not found. implies that performance of part of an obligation constitutes performance of the obligation;

 

	 	
(ii)
	
a clause, party, annexure, exhibit or schedule is a reference to a clause of, and a party, annexure, exhibit and schedule to, this Agreement and a reference to this Agreement includes any annexure, exhibit and schedule;

 

	 	
(iii)
	
a statute, regulation, proclamation, ordinance or by law includes all statutes, regulations, proclamations, ordinances or by laws amending, consolidating or replacing it, and a reference to a statute includes all regulations, proclamations, ordinances and by laws issued under that statute;

 

	 	
(iv)
	
a document (including this Agreement) includes all amendments or supplements to, or replacements or novations of, that document;

 

	 	
(v)
	
a party to a document includes that party’s executors, administrators, successors, substitutes (including persons taking by novation) and permitted assigns;

 

	 	
(vi)
	
“including”, “for example” or “such as” when introducing an example, does not limit the meaning of the words to which the example relates to that example or examples of a similar kind;

 

	 	
(vii)
	
“law” includes legislation, the rules of the general law, including common law and equity, and any judgment order or decree, declaration or ruling of a court of competent jurisdiction or governmental agency binding on a person or the assets of that person; and

 

	 	
(viii)
	
a monetary amount is a reference to Australian dollars.

  

 

3

 

Loan Agreement

 

	
2.
	
Loan

 

	
2.1
	
The Lender will advance the Principal Sum to the Borrower on the Drawdown Date in Immediately Available Funds. 

 

	
2.2
	
The Lender may advance additional sums to the Borrower for time to time as evidenced by the signature of an authorised officer of the Borrower on a schedule of advances substantially in the format of Exhibit A, Schedule of Loan Advances, attached to this Agreement. 

 

	
2.3
	
The Loan is unsecured. 

 

	
3.
	
Interest

 

Interest will accrue on a daily basis and compound annually on the outstanding balance of the Loan Balance at the Interest Rate from, and including, the Drawdown Date to, and including, the date on which the Loan Balance is repaid in full. 

 

	
4.
	
Repayment of Loan Balance and Interest

 

	
4.1
	
Subject to the provisions of clause 5, the Borrower must repay the Loan Balance and all accrued interest on the Repayment Date.

 

	
4.2
	
Nothing in this Agreement precludes the Borrower from repaying the Principal Sum, the Loan Balance, any accrued interest, or any portion of them earlier than required under this Agreement.

 

	
5.
	
Events of Default

 

	
5.1
	
If an Event of Default occurs, the Lender may declare part or all of the outstanding Loan Balance, and any accrued interest, due and payable within the period set out in a written notice to the Borrower and the Borrower must comply with the terms of that notice.

 

	
5.2
	
For the purposes of this Agreement, each of the following events will be an Event of Default:

 

	 	
(a)
	
Non-Payment: if the Borrower defaults in the due payment of any amount under this Agreement;

 

	 	
(b)
	
Insolvency Event: if in respect of the Borrower:

 

	 	
(i)
	
an application is made to a court for a winding up or bankruptcy order;

 

	 	
(ii)
	
the appointment of a provisional liquidator, administrator, receiver or similar officer;

 

	 	
(iii)
	
a receiver, receiver and manager, controller (as defined in the Act), a managing controller (as defined in the Act) is appointed to any part of the Borrower’s property;

  

 

4

 

Loan Agreement

 

	 	
(iv)
	
the Borrower enters into or takes any steps for the purpose of entering into any moratorium, composition, arrangement or similar agreement in respect of all or any of its debts with its creditors or any person; or

 

	 	
(v)
	
the Borrower is or states that it is unable to pay all of its debts as and when they fall due for payment. 

 

	 	
(c)
	
Material Adverse Change: if any situation occurs which in the opinion of the Lender gives it grounds to believe that a material and adverse change in the business or financial condition of the Borrower has occurred or that the ability of the Borrower to perform its obligations under this Agreement has been or will be materially and adversely affected. 

 

	
6.
	
Use of the Loan

 

The Borrower must only use Loan for the purposes of project investment, working capital purposes and to start its business as a holding company, as approved by the Borrower’s board of directors. 

 

	
7.
	
Notices

 

	
7.1
	
Notices

 

	 	
(a)
	
Form of communication

 

Unless expressly stated otherwise in this Agreement any notice, certificate, consent, request, demand, approval, waiver or other communication (Notice) must be:

 

	 	
(i)
	
in legible writing and in English;

 

	 	
(ii)
	
signed by the sender (if an individual) or where the sender is a company, signed by an officer or in accordance with section 127 of the Act; and

 

	 	
(iii)
	
marked for the attention of and addressed to the addressee. 

 

A Notice can be relied upon by the addressee and the addressee is not liable to any other person for any consequences of that reliance if the addressee believes it to be genuine, correct and authorised by the sender.

 

	 	
(b)
	
Delivery of Notices

 

Notices must be hand delivered or sent by prepaid express post (next day delivery), email or facsimile to the addressee’s address for notices specified in notice details in the Parties section of this Agreement or to any other address, email or facsimile number a party notifies to the other parties under this clause.

 

In this clause 7.1, reference to an addressee includes a reference to an addressee’s officers, agents or employees or any person reasonably believed by the sender to be an officer, agent or employee of the addressee.

 

	 	
(c)
	
When Notice is effective

 

Notices take effect from the time they are received or taken to be received under clause (d) below (whichever happens first) unless a later time is specified.

 

 

5

 

Loan Agreement

  

	 	
(d)
	
When Notice taken to be received

 

Notice is taken to be received by the addressee if by:

 

	 	
(i)
	
delivery in person, when delivered to the addressee;

 

	 	
(ii)
	
prepaid express post, on the second Business Day after the date of posting;

 

	 	
(iii)
	
post three Business Days from and including the date of postage; or

 

	 	
(iv)
	
subject to (e) below, facsimile transmission, at the time shown in the transmission report generated by the machine from which the facsimile was sent; and

 

	 	
(v)
	
subject to (e) below, electronic mail (e-mail), four hours after the sent time (as recorded on the sender’s e-mail server), unless the sender receives a notice from the recipient’s email server or internet service provider that the message has not been delivered to the recipient. 

 

	 	
(e)
	
Legible Notices and receipt outside business hours

 

	 	
(i)
	
A facsimile transmission or e-mail is regarded as legibly received unless the addressee telephones the sender within twenty four hours after the transmission or e-mail is received or regarded as received under clause 7.1(d) and informs the sender that it is not legible.

 

	 	
(ii)
	
Despite clauses 7.1(c) and (d), if a Notice is received or taken to be received under this clause 7.1 after 4:00pm in the place of receipt or on a non-Business Day, it is taken to be received at 9:00am (recipient’s time) on the following Business Day and take effect from that time unless a later time is specified in the Notice.

 

	
7.2
	
A facsimile transmission is regarded as legible unless the addressee telephones the sender within 2 (two) hours after the transmission is received or regarded as received under clause 7.1(c) and informs the sender that it is not legible

 

	
7.3
	
In this clause 7, reference to an addressee includes a reference to an addressee’s officers, agents or employees or any person reasonably believed by the sender to be an officer, agent or employee of the addressee.

 

	
8.
	
Governing law and jurisdiction

 

	 	
(a)
	
This Agreement is governed by the laws of New South Wales.

 

	 	
(b)
	
Each party irrevocably and unconditionally submits to the exclusive jurisdiction of the courts of New South Wales and any courts which have jurisdiction to hear appeals from any of those courts in respect of any proceedings in connection with this Agreement.

 

	 	
(c)
	
Each party waives any right it has to object to an action being brought in the courts of New South Wales including, without limitation, by claiming that the action has been brought in an inconvenient forum or that those courts do not have jurisdiction.

  

 

6

 

Loan Agreement

 

	
9.
	
Costs and Stamp Duty

 

	 	
(a)
	
Each party will pay their own costs in relation to the negotiation, finalisation and execution of this Agreement. 

 

	 	
(b)
	
The Borrower must pay any stamp duty of and incidental to this Agreement.

  

 

7

 

Loan Agreement

  

Signing Page

 

Executed as an Agreement

 

	
SIGNED by Arowana International Limited (ABN 83 103 472 751) under delegated authority from the Board by its properly authorised Chief Financial And Operating Officer:

 

 

/s/ Conor Byrne
	  	  
	
Signature of authorised signatory

 

 

Conor Byrne
	  	  
	
Print Full Name of Signatory
	  	  

 

 

	
SIGNED by VivoPower International Services Limited (Jersey Company Number 121 017) by two Directors or a Director and Secretary in accordance with s.127 of the Corporations Act 2001:

 

 

/s/ Philip Michael Broomhead
	  	  	
 

 

 

 

 

	
Signature of Director

 

 

Philip Michael Broomhead
	  	  	
Signature of Director/Secretary*

	
Print Full Name of Signatory
	  	  	
Print Full Name of Signatory

* Delete whichever does not apply

  

 

8

 

Loan Agreement

  

Exhibit A – Schedule of Loan Advances

 

 

 

	
Advance Date
	
Amount
	
Principal Balance
	
Interest (Cumulative)

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

 

 

 

 

Arowana International Limited 

 

 

Dated this the ________ day of ____________ 2016

 

 

	
GG.Received and acknowledged by the Borrower, VivoPower International Services Limited

	
HH.

	
II.Signature of Authorised Representative

	
JJ.

	
KK.Name of Authorised Representative

	
LL.

	
MM.Title of Authorised Representative

 

Dated this the ________ day of ____________ 2016

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00261-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00261-of-00352.parquet"}]]