Document:

Exhibit 10.16

 

THIS NOTE HAS BEEN ISSUED WITH “ORIGINAL
ISSUE DISCOUNT” FOR U.S. FEDERAL INCOME TAX PURPOSES. THE ISSUER OF THIS NOTE WILL MAKE AVAILABLE TO ANY HOLDER OF THIS NOTE: (1) THE
ISSUE PRICE AND ISSUE DATE OF THE NOTE, (2) THE AMOUNT OF ORIGINAL ISSUE DISCOUNT ON THE NOTE, (3) THE YIELD TO MATURITY OF
THE NOTE, AND (4) ANY OTHER INFORMATION REQUIRED TO BE MADE AVAILABLE BY U.S. TREASURY REGULATIONS UPON RECEIVING A WRITTEN REQUEST
FOR SUCH INFORMATION AT THE FOLLOWING ADDRESS: 2125 BISCAYNE BLVD., SUITE 253, MIAMI, FLORIDA 33137.

 

NEITHER THIS SECURITY NOR THE SECURITIES INTO
WHICH THIS SECURITY IS CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY
STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT
TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE
WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH
SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THIS SECURITY AND THE SECURITIES ISSUABLE UPON CONVERSION OF THIS SECURITY MAY BE
PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

	Dated as of:	 	May 27, 2022	 	Purchase Price:	 	$
	Maturity Date:	 	May 27, 2023	 	Original Issue Discount:	 	$
	Interest Rate:	 	5%	 	Original Principal Amount:	 	$

 

15% OID SENIOR SECURED CONVERTIBLE PROMISSORY
NOTE

DUE MAY 27, 2023

 

THIS 15% OID SENIOR CONVERTIBLE
PROMISSORY NOTE is one of a series of duly authorized and validly issued 15% OID Senior Secured Convertible Promissory Notes of CorpHousing
Group Inc., a Delaware corporation (the “Company”), having its principal place of business at 2125 Biscayne Boulevard,
Suite 253, Miami, Florida 33137, designated as its 15% OID Senior Convertible Promissory Notes (this Note, the “Note”
and, collectively with the other Notes of such series, the “Notes”).

 

FOR VALUE RECEIVED, the Company
hereby promises to pay to the order of Greenle Partners LLC Series Alpha P.S. or its registered assigns or successors-in-interest
(the “Holder”), or shall have paid  pursuant to the terms hereunder, an amount equal to 115% of the principal
amount set forth above on May 27, 2023 (the “Maturity Date”) or such earlier date as this Note is required or
permitted to be repaid as provided hereunder, and to pay interest to the Holder on the aggregate unconverted and then outstanding principal
amount of this Note in accordance with the provisions hereof.

 

This Note is being issued
pursuant to that Securities Purchase Agreement dated as of May 27, 2022 and amended as of June 30, 2022 (the “Purchase
Agreement”) between the Company and the Holder (defined below) and the other purchasers, if any, of the Notes.

 

     

     

    

 

This Note is subject to the
following additional provisions:

 

1.             Definitions.
For the purposes hereof, in addition to the terms defined elsewhere in this Note, (a) capitalized terms not otherwise defined herein
shall have the meanings set forth in the Purchase Agreement and (b) the following terms shall have the following meanings:

 

“Alternate Consideration”
shall have the meaning set forth in Section 5(e).

 

“Bankruptcy Event”
means any of the following events: (a) the Company or any Significant Subsidiary (as such term is defined in Rule 1-02(w) of
Regulation S-X) thereof commences a case or other proceeding under any bankruptcy, reorganization, arrangement, adjustment of debt, relief
of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction relating to the Company or any Significant Subsidiary
thereof, (b) there is commenced against the Company or any Significant Subsidiary thereof any such case or proceeding that is not
dismissed within 60 days after commencement, (c) the Company or any Significant Subsidiary thereof is adjudicated insolvent or bankrupt
or any order of relief or other order approving any such case or proceeding is entered, (d) the Company or any Significant Subsidiary
thereof suffers any appointment of any custodian or the like for it or any substantial part of its property that is not discharged or
stayed within 60 calendar days after such appointment, (e) the Company or any Significant Subsidiary thereof makes a general assignment
for the benefit of creditors, (f) the Company or any Significant Subsidiary thereof calls a meeting of its creditors with a view
to arranging a composition, adjustment or restructuring of its debts or (g) the Company or any Significant Subsidiary thereof, by
any act or failure to act, expressly indicates its consent to, approval of or acquiescence in any of the foregoing or takes any corporate
or other action for the purpose of effecting any of the foregoing.

 

“Base Conversion
Price” shall have the meaning set forth in Section 5(b).

 

“Beneficial Ownership
Limitation” shall have the meaning set forth in Section 4(d).

 

“Change of Control
Transaction” means the occurrence after the date hereof of any of (a) an acquisition after the date hereof by an individual
or legal entity or “group” (as described in Rule 13d-5(b)(1) promulgated under the Exchange Act) of effective control
(whether through legal or beneficial ownership of capital stock of the Company, by contract or otherwise) of in excess of 49% of the voting
securities of the Company (other than by means of conversion or exercise of the Notes and the Securities issued together with the Notes),
(b) the Company merges into or consolidates with any other Person, or any Person merges into or consolidates with the Company and,
after giving effect to such transaction, the stockholders of the Company immediately prior to such transaction own less than 50% of the
aggregate voting power of the Company or the successor entity of such transaction, (c) the Company sells or transfers all or substantially
all of its assets to another Person and the stockholders of the Company immediately prior to such transaction own less than 50% of the
aggregate voting power of the acquiring entity immediately after the transaction, (d) a replacement at one time or within a three-year
period of more than one-half of the members of the Board of Directors which is not approved by a majority of those individuals who are
members of the Board of Directors on the Original Issue Date (or by those individuals who are serving as members of the Board of Directors
on any date whose nomination to the Board of Directors was approved by a majority of the members of the Board of Directors who are members
on the date hereof), or (e) the execution by the Company of an agreement to which the Company is a party or by which it is bound,
providing for any of the events set forth in clauses (a) through (d) above.

 

“Conversion”
shall have the meaning ascribed to such term in Section 4.

 

“Conversion Date”
shall have the meaning set forth in Section 4(a).

 

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“Conversion Price”
shall have the meaning set forth in Section 4(b).

  

“Conversion Schedule”
means the Conversion Schedule in the form of Schedule 1 attached hereto.

 

“Conversion Shares”
means, collectively, the shares of Common Stock (or if units consisting of Common Stock and warrants are sold in the IPO, the securities
comprising such units) issuable upon conversion of this Note in accordance with the terms hereof.

 

“Delaware Courts”
shall have the meaning set forth in Section 7(d).

 

“Dilutive Issuance”
shall have the meaning set forth in Section 5(b).

 

“Dilutive Issuance
Notice” shall have the meaning set forth in Section 5(b).

 

“Event of Default”
shall have the meaning set forth in Section 6(a).

 

“Fundamental Transaction”
shall have the meaning set forth in Section 5(e).

 

“IPO” means
the consummation of the first underwritten public offering of Common Stock under the Securities Act.

 

“June Purchase
Agreement” means the Securities Purchase Agreement dated as of June __, 2022 between the Company and Greenle Partners LLC
Series Alpha P.S. and the other purchasers, if any, of the Other Notes.

 

“Late Fees”
shall have the meaning set forth in Section 2(c).

 

“Mandatory Default
Amount” means the payment of 130% of the outstanding principal amount of this Note and accrued and unpaid interest hereon, in
addition to the payment of all other amounts, costs, expenses and liquidated damages due in respect of this Note.

 

“Note Register”
shall have the meaning set forth in Section 2(b).

 

“Notice of Conversion”
shall have the meaning set forth in Section 4(a).

 

“Original Issue Date”
means the date of the first issuance of the Notes, regardless of any transfers of any Note and regardless of the number of instruments
which may be issued to evidence such Notes.

 

“Other Notes”
means the Series B 15% OID Senior Secured Convertible Promissory Notes of the Company issued pursuant to the June Purchase Agreement
and any notes issued upon registration of transfer thereof or in exchange therefor.

 

“Securities Act”
means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Share Delivery Date”
shall have the meaning set forth in Section 4(c)(ii).

 

“Successor Entity”
shall have the meaning set forth in Section 5(e).

 

“Trading Market”
means any of the following markets or exchanges on which the Common Stock (or any other common stock of any other Person that references
the Trading Market for its common stock) is listed or quoted for trading on the date in question: The NASDAQ Global Market, The NASDAQ
Global Select Market, The NASDAQ Capital Market, the New York Stock Exchange, NYSE Arca, the NYSE American, the OTCQX Marketplace, the
OTCQB Marketplace, the OTC Pink Marketplace or any other tier operated by OTC Markets Group Inc. (or any successor to any of the foregoing).

 

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2.             Interest
and Prepayments.

 

(a)            Payment
of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount
of this Note at the rate of five percent (5%) per annum. All interest payments hereunder will be payable in cash. Accrued and unpaid interest
shall be due on payable on the Maturity Date, or as otherwise set forth herein.

 

(b)           Interest
Calculations. Interest shall be calculated on the basis of a 360-day year, consisting of twelve 30 calendar day periods, and shall
accrue daily commencing on the Original Issue Date until payment in full of the outstanding principal, together with all accrued and unpaid
interest, liquidated damages and other amounts which may become due hereunder, has been made. Interest hereunder will be paid to the Person
in whose name this Note is registered on the records of the Company regarding registration and transfers of this Note (the “Note
Register”).

 

(c)            Late
Fee. All overdue accrued and unpaid interest to be paid hereunder shall entail a late fee at an interest rate equal to the lesser
of 18% per annum or the maximum rate permitted by applicable law (the “Late Fees”) which shall accrue daily from the
date such interest is due hereunder through and including the date of actual payment in full.

 

(d)           Prepayment.     This
Note may be prepaid by the Company in whole or in part at any time or from time to time, upon at least five (5) Business Days prior
written notice to the Holder, during which period Holder shall have the opportunity to convert this Note pursuant to Section 4 hereof
and which notice period may be waived by the Holder. If the Company exercises its right to prepay this Note at any time, the Company shall
make payment to the Holder within three (3) Business Days after such five (5) Business Day period of an amount in cash equal
to the sum of the then outstanding principal amount of this Note and accrued interest thereon, plus a prepayment
premium equal to (i) 30% of the principal amount of this Note to be prepaid if such prepayment is prior to the IPO or (ii) 15%
of the principal amount of this Note to be prepaid if such prepayment is following the IPO.

 

(e)           Prepayment
Upon Qualified Financing. If the Company completes a Qualified Financing (as defined below), the Company shall, at the request of
the Holder made in writing to the Company no later than seven (7) Business Days following consummation of the Qualified Financing,
repay up to fifty percent (50%) of the then-outstanding principal amount of this Note and any accrued but unpaid interest, plus an amount
equal to the applicable prepayment premium on the date of such repayment; provided, however, that the Company shall not be obligated to
repay an aggregate principal amount of Notes or Other Notes out of the proceeds of a Qualified Financing that is more
than the greater of (i) $2,500,000, or (ii) an amount equal to fifty percent (50%) of the aggregate Subscription Amount paid
by all Holders of Notes and holders of Other Notes under this Agreement and the June Purchase Agreement (the “Maximum
Repayment Amount”). If, with respect to a Qualified Offering, the Company receives requests for the repayment of an aggregate
principal amount of Notes and Other Notes that is greater than the Maximum Repayment Amount, the Company shall be required to pay to each
holder of Notes or Other Notes that has requested repayment, including the Holder, such holder’s pro rata portion of the Maximum
Repayment Amount based upon the principal amount of Notes and Other Notes held by each such holder relative to the aggregate principal
amount of Notes and Other Notes held by all such holders. Such repayment shall be due within three (3) Business Days of the Company’s
receipt of such written request. The Company shall give written notice to Holder (i) of a proposed Qualified Offering as soon as
practicable, but in no event less than seven (7) Business Days before the anticipated closing date of such Qualified Financing, and
(ii) of the closing of a Qualified Offering within one (1) Business Day of the consummation of a Qualified Offering, during
which periods Holder shall have the opportunity to convert this Note pursuant to Section 4 hereof. The term “Qualified Financing”
shall mean that the Company issues and sells shares of its equity or debt securities to investors on or before the Maturity Date in a
financing with total gross proceeds to the Company of not less than $10,000,000 (excluding the conversion of the notes or other convertible
securities issued for capital raising purposes).

 

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3.             Registration
of Transfers and Exchanges.

 

(a)            Different
Denominations. This Note is exchangeable for an equal aggregate principal amount of Notes of different authorized denominations, as
requested by the Holder surrendering the same. No service charge will be payable for such registration of transfer or exchange.

 

(b)            Investment
Representations. This Note has been issued subject to certain investment representations of the original Holder set forth in the Purchase
Agreement and may be transferred or exchanged only in compliance with the Purchase Agreement and applicable federal and state securities
laws and regulations.

 

(c)            Reliance
on Note Register. Prior to due presentment for transfer to the Company of this Note, the Company and any agent of the Company may
treat the Person in whose name this Note is duly registered on the Note Register as the owner hereof for the purpose of receiving payment
as herein provided and for all other purposes, whether or not this Note is overdue, and neither the Company nor any such agent shall be
affected by notice to the contrary.

 

4.             Conversion.

 

(a)            Voluntary
Conversion. This Note shall be convertible, in whole or in part, into shares of Common Stock, or if units of Common Stock and warrants
are sold by the Company in the IPO, into identical units of Common Stock and warrants, at the option of the Holder, at any time and from
time to time following the closing of the IPO (subject to the conversion limitations set forth in Section 4(d) hereof); provided,
however, that if the Company elects to prepay this Note in whole or in part at any time prior to the closing of the IPO, the Holder of
this Note may elect to convert the amount to be paid by the Company in respect of such prepayment into shares of Common Stock at any time
prior to the payment of such prepayment amount. The Holder shall effect conversions by delivering to the Company a Notice of Conversion,
the form of which is attached hereto as Annex A (each, a “Notice of Conversion”), specifying therein the principal
amount of this Note to be converted, accrued and unpaid interest outstanding under this Note to be converted, and the date on which such
conversion shall be effected (such date, the “Conversion Date”). If no Conversion Date is specified in a Notice of
Conversion, the Conversion Date shall be the date that such Notice of Conversion is deemed delivered hereunder. No ink-original Notice
of Conversion shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Conversion
form be required. To effect conversions hereunder, the Holder shall not be required to physically surrender this Note to the Company unless
the entire principal amount of this Note, plus all accrued and unpaid interest thereon, has been so converted. Conversions hereunder shall
have the effect of lowering the outstanding principal amount of this Note in an amount equal to the applicable conversion. The Holder
and the Company shall maintain a Conversion Schedule showing the principal amount(s) converted, the corresponding paydown of interest
and the date of such conversion(s). The Company may deliver an objection to any Notice of Conversion within three (3) Business Days
of delivery of such Notice of Conversion. In the event of any dispute or discrepancy, the records of the Holder shall be controlling and
determinative in the absence of manifest error. The Holder, and any assignee by acceptance of this Note, acknowledge and agree that,
by reason of the provisions of this paragraph, following conversion of a portion of this Note, the unpaid and unconverted principal amount
of this Note may be less than the amount stated on the face hereof.

 

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(b)           Conversion
Price. The conversion price in effect on any Conversion Date shall initially be equal to (i) if such Conversion Date is following
the closing of the IPO, an amount equal to seventy-five percent of the price per share or price per unit at which Common Stock or units
of Common Stock and warrants is sold in the IPO, or (ii) if such Conversion Date is prior to the closing of the IPO, an amount equal
to the value of a share of Common Stock on such Conversion Date determined as the quotient of an assumed $75 million valuation of the
Company divided by the number of outstanding shares of Common Stock on a fully-diluted basis on such date assuming the conversion or exercise
of all securities that are convertible into, or exercisable to purchase, shares of Common Stock (the “Conversion Price”).

 

(c)           Mechanics
of Conversion.

 

i.            Conversion
Shares Issuable Upon Conversion of Principal Amount, Interest and Mandatory Default Amount. The number of Conversion Shares issuable
upon a conversion hereunder shall be determined by the quotient obtained by dividing (x) the outstanding principal amount of this
Note to be converted and any accrued and unpaid interest to be converted, which amount may include the Mandatory Default Amount, by (y) the
Conversion Price.

 

ii.           Delivery
of Certificate Upon Conversion. Not later than three (3) Trading Days after each Conversion Date (the “Share Delivery
Date”), the Company shall deliver, or cause to be delivered, to the Holder (A) a certificate or certificates representing
the Conversion Shares which, on or after the date on which such Conversion Shares are eligible to be sold under Rule 144 without
the need for current public information and the Company has received an opinion of counsel to such effect reasonably acceptable to the
Company, shall be free of restrictive legends and trading restrictions (other than those which may then be required by the Purchase Agreement)
representing the number of Conversion Shares being acquired upon the conversion of this Note, and (B) a bank check in the amount
of accrued and unpaid interest (if the Company has elected or is required to pay accrued interest in cash). All certificate or certificates
required to be delivered by the Company under this Section 4(c) shall be delivered electronically through the Depository Trust
Company or another established clearing corporation performing similar functions, if available, or physical certificates if not available.
If the Conversion Date is prior to the date on which such Conversion Shares are eligible to be sold under Rule 144 without the need
for current public information the Conversion Shares shall bear a restrictive legend in the following form, as appropriate:

 

“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. 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.”

 

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iii.          Failure
to Deliver Certificates. If, in the case of any Notice of Conversion, such certificate or certificates are not delivered to or as
directed by the applicable Holder by the Share Delivery Date, the Holder shall be entitled to elect by written notice to the Company at
any time on or before its receipt of such certificate or certificates, to rescind such Conversion, in which event the Company shall promptly
return to the Holder any original Note delivered to the Company and the Holder shall promptly return to the Company the Common Stock certificates
issued to such Holder pursuant to the rescinded Conversion Notice. Notwithstanding the obligations of the Company contained in Section 4(c) to
deliver share certificates, any requirement to deliver share certificates shall be remedied by recording share issuances in favor of the
Holder in book entry form and delivery to the Holder of written evidence of such share issuances.

 

iv.          Obligation
Absolute; Partial Liquidated Damages. The Company’s obligations to issue and deliver the Conversion Shares upon conversion of
this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to
enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action
to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder
or any other Person of any obligation to the Company or any violation or alleged violation of law by the Holder or any other Person, and
irrespective of any other circumstance which might otherwise limit such obligation of the Company to the Holder in connection with the
issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by the Company of
any such action the Company may have against the Holder. Nothing herein shall limit a Holder’s right to pursue actual damages or
declare an Event of Default pursuant to Section 6 hereof for the Company’s failure to deliver Conversion Shares within the
period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including,
without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the
Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

 

vi.          Reservation
of Shares Issuable Upon Conversion. The Company covenants that it will at all times reserve and keep available out of its authorized
and unissued shares of Common Stock a number of shares of Common Stock at least equal to the Required Minimum (as defined in the Purchase
Agreement) for the sole purpose of issuance upon conversion of this Note and payment of interest on this Note, each as herein provided,
free from preemptive rights or any other actual contingent purchase rights of Persons other than the Holder (and the other holders of
the Notes), not less than such aggregate number of shares of the Common Stock as shall (subject to the terms and conditions set forth
in the Purchase Agreement) be issuable (taking into account the adjustments and restrictions of Section 5) upon the conversion of
the then outstanding principal amount of this Note and payment of interest hereunder. The Company covenants that all shares of Common
Stock that shall be so issuable shall, upon issue, be duly authorized, validly issued, fully paid and nonassessable.

 

vii.         Fractional
Shares. No fractional shares or scrip representing fractional shares shall be issued upon the conversion of this Note. As to any fraction
of a share which the Holder would otherwise be entitled to purchase upon such conversion, the Company shall at its election, either pay
a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Conversion Price or round up
to the next whole share.

 

viii.       Transfer
Taxes and Expenses. The issuance of certificates for shares of the Common Stock on conversion of this Note shall be made without charge
to the Holder hereof for any documentary stamp or similar taxes that may be payable in respect of the issue or delivery of such certificates,
provided that, the Company shall not be required to pay any tax that may be payable in respect of any transfer involved in the issuance
and delivery of any such certificate upon conversion in a name other than that of the Holder of this Note so converted and the Company
shall not be required to issue or deliver such certificates unless or until the Person or Persons requesting the issuance thereof shall
have paid to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid.
The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Conversion.

 

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(d)           Holder’s
Conversion Limitations. The Company shall not effect any conversion of principal and/or interest of this Note, and a Holder shall
not have the right to convert any principal and/or interest of this Note, to the extent that after giving effect to the conversion set
forth on the applicable Notice of Conversion, the Holder (together with the Holder’s Affiliates, and any Persons acting as a group
together with the Holder or any of the Holder’s Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation
(as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and
its Affiliates shall include the number of shares of Common Stock issuable upon conversion of this Note with respect to which such determination
is being made, but shall exclude the number of shares of Common Stock which are issuable upon (i) conversion of the remaining, unconverted
principal amount of this Note beneficially owned by the Holder or any of its Affiliates and (ii) exercise or conversion of the unexercised
or unconverted portion of any other securities of the Company subject to a limitation on conversion or exercise analogous to the limitation
contained herein (including, without limitation, any other Notes or the Warrants) beneficially owned by the Holder or any of its Affiliates.
Except as set forth in the preceding sentence, for purposes of this Section 4(d), beneficial ownership shall be calculated in accordance
with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. To the extent that the limitation
contained in this Section 4(d) applies, the determination of whether this Note is convertible (in relation to other securities
owned by the Holder together with any Affiliates) and of which principal amount of this Note is convertible shall be in the sole discretion
of the Holder, and the submission of a Notice of Conversion shall be deemed to be the Holder’s determination of whether this Note
may be converted (in relation to other securities owned by the Holder together with any Affiliates) and which principal amount of this
Note is convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, the Holder
will be deemed to represent to the Company each time it delivers a Notice of Conversion that such Notice of Conversion has not violated
the restrictions set forth in this paragraph and the Company shall have no obligation to verify or confirm the accuracy of such determination.
In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of
the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 4(d), in determining the
number of outstanding shares of Common Stock, the Holder may rely on the number of outstanding shares of Common Stock as stated in the
most recent of the following: (i) the Company’s most recent periodic or annual report filed with the Commission, as the case
may be, (ii) a more recent public announcement by the Company, or (iii) a more recent written notice by the Company or the Company’s
transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company
shall within two Trading Days confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding. In any
case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities
of the Company, including this Note, by the Holder or its Affiliates since the date as of which such number of outstanding shares of Common
Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% of the number of shares of the Common Stock
outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon conversion of this Note held by the
Holder. The Holder, upon not less than 61 days’ prior notice to the Company, may increase or decrease the Beneficial Ownership Limitation
provisions of this Section 4(d), provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares
of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon conversion of this Note
held by the Holder and the Beneficial Ownership Limitation provisions of this Section 4(d) shall continue to apply. Any such
increase or decrease will not be effective until the 61st day after such notice is delivered to the Company. The Beneficial
Ownership Limitation provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with
the terms of this Section 4(d) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with
the intended Beneficial Ownership Limitation contained herein or to make changes or supplements necessary or desirable to properly give
effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Note.

 

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5.             Certain
Adjustments.

 

(a)            Stock
Dividends and Stock Splits. If the Company, at any time while this Note is outstanding: (i) pays a stock dividend or otherwise
makes a distribution or distributions payable in shares of Common Stock on shares of Common Stock or any Common Stock Equivalents (which,
for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon conversion of, or payment of interest
on, the Notes), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including
by way of a reverse stock split) outstanding shares of Common Stock into a smaller number of shares or (iv) issues, in the event
of a reclassification of shares of the Common Stock, any shares of capital stock of the Company, then the Conversion Price shall be multiplied
by a fraction of which the numerator shall be the number of shares of Common Stock (excluding any treasury shares of the Company) outstanding
immediately before such event, and of which the denominator shall be the number of shares of Common Stock outstanding immediately after
such event. Any adjustment made pursuant to this Section shall become effective immediately after the record date for the determination
of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the
case of a subdivision, combination or re-classification.

 

(b)           Subsequent
Equity Sales. If, at any time while this Note is outstanding, the Company or any Subsidiary, as applicable, sells or grants any option
to purchase or sells or grants any right to reprice, or otherwise disposes of or issues (or announces any sale, grant or any option to
purchase or other disposition), any Common Stock or Common Stock Equivalents entitling any Person to acquire shares of Common Stock at
an effective price per share that is lower than the then Conversion Price (such lower price, the “Base Conversion Price”
and such issuances, collectively, a “Dilutive Issuance”) (if the holder of the Common Stock or Common Stock Equivalents
so issued shall at any time, whether by operation of purchase price adjustments, reset provisions, floating conversion, exercise or exchange
prices or otherwise, or due to warrants, options or rights per share which are issued in connection with such issuance, be entitled to
receive shares of Common Stock at an effective price per share that is lower than the Conversion Price, such issuance shall be deemed
to have occurred for less than the Conversion Price on such date of the Dilutive Issuance), then the Conversion Price shall be reduced
to equal the Base Conversion Price. Such adjustment shall be made whenever such Common Stock or Common Stock Equivalents are issued. Notwithstanding
the foregoing, no adjustment will be made under this Section 5(b) in respect of an Exempt Issuance. The Company shall notify
the Holder in writing, no later than the Trading Day following the issuance of any Common Stock or Common Stock Equivalents subject to
this Section 5(b), indicating therein the applicable issuance price, or applicable reset price, exchange price, conversion price
and other pricing terms (such notice, the “Dilutive Issuance Notice”). For purposes of clarification, whether or not
the Company provides a Dilutive Issuance Notice pursuant to this Section 5(b), upon the occurrence of any Dilutive Issuance, the
Holder is entitled to receive a number of Conversion Shares based upon the Base Conversion Price on or after the date of such Dilutive
Issuance, regardless of whether the Holder accurately refers to the Base Conversion Price in the Notice of Conversion.

 

(c)           Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 5 above, if at any time the Company grants, issues or sells
any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any
class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to acquire, upon the terms
applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number
of shares of Common Stock acquirable upon complete conversion of this Note (without regard to any limitations on exercise hereof, including
without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is taken for the grant, issuance
or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are
to be determined for the grant, issue or sale of such Purchase Rights (provided, however, to the extent that the Holder’s right
to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall
not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result
of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time,
if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

    	 	9	 

     

    

 

(d)           Pro
Rata Distributions. During such time as this Note is outstanding, if the Company shall declare or make any dividend or other distribution
of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including,
without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification,
corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”), at any time after
the issuance of this Note, then, in each such case, upon conversion of this Note, the Holder shall be entitled to participate in such
Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common
Stock acquirable upon complete conversion of this Note (without regard to any limitations on exercise hereof, including without limitation,
the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record
is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution
(provided, however, to the extent that the Holder’s right to participate in any such Distribution would result in
the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to
such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion
of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not
result in the Holder exceeding the Beneficial Ownership Limitation).

 

(e)            Fundamental
Transaction. If, at any time while this Note is outstanding, (i) the Company, directly or indirectly, in one or more related
transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly,
effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one
or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the
Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange their shares
for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common Stock, (iv) the
Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization
of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for
other securities, cash or property, (v) the Company, directly or indirectly, in one or more related transactions consummates a stock
or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off
or scheme of arrangement) with another Person whereby such other Person acquires more than 50% of the outstanding shares of Common Stock
(not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or affiliated with
the other Persons making or party to, such stock or share purchase agreement or other business combination) (each a “Fundamental
Transaction”), then, upon any subsequent conversion of this Note, the Holder shall have the right to receive, for each Conversion
Share that would have been issuable upon such conversion immediately prior to the occurrence of such Fundamental Transaction (without
regard to any limitation in Section 4(d) on the conversion of this Note), the number of shares of Common Stock of the successor
or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate
Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for
which this Note is convertible immediately prior to such Fundamental Transaction (without regard to any limitation in Section 4(d) on
the conversion of this Note). For purposes of any such conversion, the determination of the Conversion Price shall be appropriately adjusted
to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one (1) share of Common
Stock in such Fundamental Transaction, and the Company shall apportion the Conversion Price among the Alternate Consideration in a reasonable
manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common Stock are given
any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same
choice as to the Alternate Consideration it receives upon any conversion of this Note following such Fundamental Transaction. The Company
shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”)
to assume in writing all of the obligations of the Company under this Note and the other Transaction Documents (as defined in the Purchase
Agreement) in accordance with the provisions of this Section 5(e) pursuant to written agreements in form and substance reasonably
satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at
the option of the holder of this Note, deliver to the Holder in exchange for this Note a security of the Successor Entity evidenced by
a written instrument substantially similar in form and substance to this Note which is convertible for a corresponding number of shares
of capital stock of such Successor Entity (or its parent entity) equivalent to the shares of Common Stock acquirable and receivable upon
conversion of this Note (without regard to any limitations on the conversion of this Note) prior to such Fundamental Transaction, and
with a conversion price which applies the conversion price hereunder to such shares of capital stock (but taking into account the relative
value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number
of shares of capital stock and such conversion price being for the purpose of protecting the economic value of this Note immediately prior
to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and substance to the Holder. Upon the
occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after
the date of such Fundamental Transaction, the provisions of this Note and the other Transaction Documents referring to the “Company”
shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations
of the Company under this Note and the other Transaction Documents with the same effect as if such Successor Entity had been named as
the Company herein.

 

    	 	10	 

     

    

 

(f)            Calculations.
All calculations under this Section 5 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For
purposes of this Section 5, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be
the sum of the number of shares of Common Stock (excluding any treasury shares of the Company) issued and outstanding.

 

(g)           Notice
to the Holder.

 

i.            Adjustment
to Conversion Price. Whenever the Conversion Price is adjusted pursuant to any provision of this Section 5, the Company shall
promptly deliver to each Holder a notice setting forth the Conversion Price after such adjustment and setting forth a brief statement
of the facts requiring such adjustment.

 

ii.           Notice
to Allow Conversion by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the
Company shall authorize the granting to all holders of the Common Stock of rights or warrants to subscribe for or purchase any shares
of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection
with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of all
or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted into other securities,
cash or property or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs
of the Company, then, in each case, the Company shall cause to be filed at each office or agency maintained for the purpose of conversion
of this Note, and shall cause to be delivered to the Holder at its last address as it shall appear upon the Note Register, at least twenty
(20) calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which
a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken,
the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants
are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected
to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to
exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation,
merger, sale, transfer or share exchange, provided that the failure to deliver such notice or any defect therein or in the delivery thereof
shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided
hereunder constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall
simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to
convert this Note during the 20-day period commencing on the date of such notice through the effective date of the event triggering such
notice except as may otherwise be expressly set forth herein.

 

    	 	11	 

     

    

 

(h)           Adjustment
for More Favorable Terms Contained in Future Financings. So long as this Note is outstanding, upon any issuance by the Company or
any of its subsidiaries of any security or debt instrument, including any convertible debt security (whether such debt begins with a convertible
feature or such feature is added at a later date) or other Common Stock Equivalents, with any term more favorable to the holder of such
security or with a term in favor of the holder of such security that was not similarly provided to the Holder in this Note, then the Company
shall notify the Holder of such additional or more favorable term and such term, at the Holder’s option, shall become a part of
this Note and its supporting documentation. The types of terms contained in the other security that may be more favorable to the holder
of such security include, but are not limited to, terms addressing conversion discounts, conversion look back periods, interest rates,
original issue discount percentages and warrant coverage.

 

6.             Events
of Default.

 

(a)            “Event
of Default” means, wherever used herein, any of the following events (whatever the reason for such event and whether such event
shall be voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court, or any order,
rule or regulation of any administrative or governmental body):

 

i.            any
default in the payment of (A) the principal amount of any Note or (B) interest, liquidated damages and other amounts owing to
a Holder on any Note, as and when the same shall become due and payable (whether on a Conversion Date or the Maturity Date or by acceleration
or otherwise) which default, solely in the case of an interest payment or other default under clause (B) above, is not cured within
five (5) Trading Days;

 

ii.           the
Company shall materially fail to observe or perform any other covenant or agreement contained in the Notes (other than a breach by the
Company of its obligations to deliver shares of Common Stock to the Holder upon conversion, which breach is addressed in clause (ix) below)
which failure is not cured, if possible to cure, within the earlier to occur of (A) seven (7) Trading Days after notice of such
failure sent by the Holder or by any other Holder to the Company and (B) ten (10) Trading Days after the Company has become
or should have reasonably become aware of such failure;

 

    	 	12	 

     

    

 

iii.          the
Company shall materially fail to observe or perform any other covenant or agreement contained in, or a default or event of default (subject
to any grace or cure period provided in the applicable agreement, document or instrument) shall occur under the specific terms of, any
of the other Transaction Documents which failure is not cured, if possible to cure, within the earlier to occur of (A) five (5) Trading
Days after notice of such failure sent by the Holder or by any other Holder to the Company and (B) ten (10) Trading Days after
the Company has become or should have become aware of such failure;

 

iv.         any
representation or warranty made in this Note, any other Transaction Documents, any written statement pursuant hereto or thereto or any
other report, financial statement or certificate made or delivered to the Holder shall be untrue or incorrect in any material respect
as of the date when made or deemed made;

 

v.          the
Company or any Significant Subsidiary (as such term is defined in Rule 1-02(w) of Regulation S-X) shall be subject to a Bankruptcy
Event;

 

vii.         following
the IPO, the Common Stock shall not be eligible for listing or quotation for trading on a Trading Market and shall not be eligible to
resume listing or quotation for trading thereon within twenty-one Trading Days or the transfer of shares of Common Stock through the Depository
Trust Company System is no longer available for twenty-one Trading Days;

 

viii.       the
Company shall be a party to any Change of Control Transaction or Fundamental Transaction or shall agree to sell or dispose of all or in
excess of 33% of its assets in one transaction or a series of related transactions (whether or not such sale would constitute a Change
of Control Transaction);

 

ix.          the
Company shall fail for any reason to deliver certificates to a Holder prior to the third Trading Day after a Conversion Date pursuant
to Section 4(c) or the Company shall provide at any time notice to the Holder, including by way of public announcement, of the
Company’s intention to not honor requests for conversions of any Notes in accordance with the terms hereof;

 

x.           following
the IPO, the Company fails to file with the Commission, subject to any extension permitted by Commission regulations, including Rule 12b-25
under the Exchange Act, any required reports under Section 13 or 15(d) of the Exchange Act such that it is not in compliance
with Rule 144(c)(1) (or Rule 144(i)(2), if applicable);

 

xi.          if
the Company or any Significant Subsidiary shall: (i) apply for or consent to the appointment of a receiver, trustee, custodian or
liquidator of it or any of its properties, (ii) make a general assignment for the benefit of creditors, (iii) be adjudicated
a bankrupt or insolvent or be the subject of an order for relief under Title 11 of the United States Code or any bankruptcy, reorganization,
insolvency, readjustment of debt, dissolution or liquidation law or statute of any other jurisdiction or foreign country, or (iv) file
a voluntary petition in bankruptcy, or a petition or an answer seeking reorganization or an arrangement with creditors or to take advantage
or any bankruptcy, reorganization, insolvency, readjustment of debt, dissolution or liquidation law or statute, or an answer admitting
the material allegations of a petition filed against it in any proceeding under any such law, or (v) take or permit to be taken any
action in furtherance of or for the purpose of effecting any of the foregoing;

 

    	 	13	 

     

    

 

xii.         if
any order, judgment or decree shall be entered, without the application, approval or consent of the Company or any Significant Subsidiary,
by any court of competent jurisdiction, approving a petition seeking liquidation or reorganization of the Company or any Subsidiary, or
appointing a receiver, trustee, custodian or liquidator of the Company or any Subsidiary, or of all or any substantial part of its assets,
and such order, judgment or decree shall continue unstayed and in effect for any period of sixty (60) days;

 

xiii.        the
occurrence of any levy upon or seizure or attachment of, or any uninsured loss of or damage to, any property of the Company or any Subsidiary
having an aggregate fair value or repair cost (as the case may be) in excess of $100,000 individually or in the aggregate, and any such
levy, seizure or attachment shall not be set aside, bonded or discharged within thirty (30) days after the date thereof;

 

xiv.        the
Company or any subsidiary shall default on any of its obligations under any mortgage(s), credit agreement(s) or other facility, indenture
agreement(s), factoring agreement(s) or other instrument(s) under which there may be issued, or by which there may be secured
or evidenced, any indebtedness for borrowed money or money due under any long term leasing or factoring arrangement that (a) involve(s) obligations
greater than $100,000 in the aggregate, whether such indebtedness now exists or shall hereafter be created, and (b) results in such
indebtedness becoming or being declared due and payable prior to the date on which it would otherwise become due and payable;

 

xv.         any
monetary judgement, writ or similar final process shall be entered or filed after the date hereof against the Company, any subsidiary
or any of their respective property or assets for more than $100,000, and such judgement, writ or similar process shall remain unvacated,
unbonded or unstayed for a period of 45 calendar days; or

 

xvi.        the
Company shall fail to maintain sufficient reserved shares pursuant to Section 4.11 of the Purchase Agreement, subject to a cure period
of ten (10) Trading Days.

 

(b)            Remedies
Upon Event of Default. Subject to the Beneficial Ownership Limitation as set forth in Section 4(d), if any Event of Default occurs,
then the outstanding principal amount of this Note, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect
thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory
Default Amount.  After the occurrence of any Event of Default that results in the eventual acceleration of this Note, the interest
rate on this Note shall accrue at an additional interest rate equal to the lesser of 1.5% per month (18% per annum) or the maximum rate
permitted under applicable law.  Upon the payment in full of the Note, the Holder shall promptly surrender this Note to or as directed
by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any
presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce
any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be
rescinded and annulled by Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Note until
such time, if any, as the Holder receives full payment pursuant to this Section 6(b). No such rescission or annulment shall affect
any subsequent Event of Default or impair any right consequent thereon.

 

7.             Security.
This Note is secured by the Security Agreement (as defined in the Purchase Agreement), executed by the Company and its subsidiaries
in favor of the Holders encumbering the collateral set forth therein, as more specifically set forth in the Security Agreement, all the
terms and conditions of which are hereby incorporated into and made a part of this Note.

 

    	 	14	 

     

    

 

8.             Miscellaneous.

 

(a)            Notices.
Any and all notices or other communications or deliveries to be provided by the Holder hereunder, including, without limitation, any Notice
of Conversion, shall be in writing and delivered personally, by facsimile, by email, or sent by a nationally recognized overnight courier
service, addressed to the Company, at the address set forth above, or such other facsimile number, email or other address as the Company
may specify for such purposes by notice to the Holder delivered in accordance with this Section 7(a). Any and all notices or other
communications or deliveries to be provided by the Company hereunder shall be in writing and delivered personally, by facsimile, by email
or sent by a nationally recognized overnight courier service addressed to each Holder at the facsimile number, email or other address
of the Holder appearing on the books of the Company, or if no such facsimile number, email or other address appears on the books of the
Company, at the principal place of business of such Holder, as set forth in the Purchase Agreement, with a copy to counsel of the Holder
as set forth in the Purchase Agreement. Any notice or other communication or deliveries hereunder shall be deemed given and effective
on the earliest of (i) the date of transmission, if such notice or communication is delivered via facsimile or via email prior to
12:00 p.m. (New York City time) on any date, (ii) the next Trading Day after the date of transmission, if such notice or communication
is delivered via facsimile or via email on a day that is not a Trading Day or later than 12:00 p.m. (New York City time) on any Trading
Day, (iii) the second Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service
or (iv) upon actual receipt by the party to whom such notice is required to be given.

 

(b)           Absolute
Obligation. Except as expressly provided herein, no provision of this Note shall alter or impair the obligation of the Company, which
is absolute and unconditional, to pay the principal of, liquidated damages and accrued interest, as applicable, on this Note at the time,
place, and rate, and in the coin or currency, herein prescribed. This Note is a direct debt obligation of the Company.

 

(c)            Lost
or Mutilated Note. If this Note shall be mutilated, lost, stolen or destroyed, the Company shall execute and deliver, in exchange
and substitution for and upon cancellation of a mutilated Note, or in lieu of or in substitution for a lost, stolen or destroyed Note,
a new Note for the principal amount of this Note so mutilated, lost, stolen or destroyed, but only upon receipt of evidence of such loss,
theft or destruction of such Note, and of the ownership hereof, reasonably satisfactory to the Company.

 

(d)           Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Note shall be governed by and construed
and enforced in accordance with the internal laws of the State of Delaware, without regard to the principles of conflict of laws thereof.
Each party agrees that all legal proceedings concerning the interpretation, enforcement and defense of the transactions contemplated by
any of the Transaction Documents (whether brought against a party hereto or its respective Affiliates, directors, officers, shareholders,
employees or agents) shall be commenced in the federal courts sitting in the State of Delaware (the “Delaware Courts”).
Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the Delaware Courts for the adjudication of any dispute
hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement
of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim
that it is not personally subject to the jurisdiction of such Delaware Courts, or such Delaware Courts are improper or inconvenient venue
for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served in any such
suit, action or proceeding 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 Note 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 applicable law. Each party hereto hereby irrevocably waives, to the fullest extent permitted by applicable law,
any and all right to trial by jury in any legal proceeding arising out of or relating to this Note or the transactions contemplated hereby.
If any party shall commence an action or proceeding to enforce any provisions of this Note, then the prevailing party in such action or
proceeding shall be reimbursed by the other party for its attorney’s fees and other costs and expenses incurred in the investigation,
preparation and prosecution of such action or proceeding.

 

    	 	15	 

     

    

 

(e)            Waiver.
Any waiver by the Company or the Holder of a breach of any provision of this Note shall not operate as or be construed to be a waiver
of any other breach of such provision or of any breach of any other provision of this Note. The failure of the Company or the Holder to
insist upon strict adherence to any term of this Note on one or more occasions shall not be considered a waiver or deprive that party
of the right thereafter to insist upon strict adherence to that term or any other term of this Note on any other occasion. Any waiver
by the Company or the Holder must be in writing.

 

(f)            Severability.
If any provision of this Note is invalid, illegal or unenforceable, the balance of this Note shall remain in effect, and if any provision
is inapplicable to any Person or circumstance, it shall nevertheless remain applicable to all other Persons and circumstances. If it shall
be found that any interest or other amount deemed interest due hereunder violates the applicable law governing usury, the applicable rate
of interest due hereunder shall automatically be lowered to equal the maximum rate of interest permitted under applicable law. The Company
covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim
or take the benefit or advantage of, any stay, extension or usury law or other law which would prohibit or forgive the Company from paying
all or any portion of the principal of or interest on this Note as contemplated herein, wherever enacted, now or at any time hereafter
in force, or which may affect the covenants or the performance of this Note, and the Company (to the extent it may lawfully do so) hereby
expressly waives all benefits or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or
impede the execution of any power herein granted to the Holder, but will suffer and permit the execution of every such as though no such
law has been enacted.

 

(g)           Remedies,
Characterizations, Other Obligations, Breaches and Injunctive Relief. The remedies provided in this Note shall be cumulative and in
addition to all other remedies available under this Note and any of the other Transaction Documents at law or in equity (including a decree
of specific performance and/or other injunctive relief), and nothing herein shall limit the Holder’s right to pursue actual and
consequential damages for any failure by the Company to comply with the terms of this Note. The Company covenants to the Holder that there
shall be no characterization concerning this instrument other than as expressly provided herein. Amounts set forth or provided for herein
with respect to payments, conversion and the like (and the computation thereof) shall be the amounts to be received by the Holder and
shall not, except as expressly provided herein, be subject to any other obligation of the Company (or the performance thereof). The Company
acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder and that the remedy at law for
any such breach may be inadequate. The Company therefore agrees that, in the event of any such breach or threatened breach, the Holder
shall be entitled, in addition to all other available remedies, to an injunction restraining any such breach or any such threatened breach,
without the necessity of showing economic loss and without any bond or other security being required. The Company shall provide all information
and documentation to the Holder that is requested by the Holder to enable the Holder to confirm the Company’s compliance with the
terms and conditions of this Note.

 

(h)           Next
Business Day. Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment shall
be made on the next succeeding Business Day.

 

(i)             Headings.
The headings contained herein are for convenience only, do not constitute a part of this Note and shall not be deemed to limit or affect
any of the provisions hereof.

 

*********************

 

(Signature Pages Follow)

 

    	 	16	 

     

    

 

IN WITNESS WHEREOF, the Company
has caused this Note to be duly executed by a duly authorized officer as of the date first above indicated.

 

	 	CorpHousing Group Inc.
	 	 
	 	By:	 
	 	 	Name: Brian Ferdinand
	 	 	Title: Chief Executive Officer

 

Email address for delivery of Notices: brian@corphousinggroup.com

 

    	 	17	 

     

    

 

ANNEX A

 

NOTICE OF CONVERSION

 

The undersigned hereby elects
to convert principal and interest under the 15% OID Senior Secured Convertible Promissory Notes due May 27, 2023 of CorpHousing Group
Inc. (the “Company”), into shares of its common stock (the “Common Stock”), according to the conditions
hereof, as of the date written below. If shares of Common Stock are to be issued in the name of a person other than the undersigned, the
undersigned will pay all transfer taxes payable with respect thereto and is delivering herewith such certificates and opinions as reasonably
requested by the Company in accordance therewith. No fee will be charged to the holder for any conversion, except for such transfer taxes,
if any.

 

By the delivery of this Notice
of Conversion the undersigned represents and warrants to the Company that its ownership of the Common Stock does not exceed the amounts
specified under Section 4 of this Note, as determined in accordance with Section 13(d) of the Exchange Act.

 

The undersigned agrees to
comply with the prospectus delivery requirements under the applicable securities laws in connection with any transfer of the aforesaid
shares of Common Stock.

 

Conversion calculations:

 

Date to Effect Conversion:______________________________________

 

Principal Amount of Note to be Converted:________________________

 

Payment of Interest in Common Stock __ yes __
no

 

If yes, $_____ of Interest Accrued on Account
of Conversion at Issue.

 

Number of shares of Common Stock to be issued:___________________

 

 

__________________________

Signature

 

__________________________

Name

 

Delivery Instructions:

 

__________________________

__________________________

__________________________

__________________________

__________________________

 

     

     

    

 

Schedule 1

 

CONVERSION SCHEDULE

 

This 15% OID Senior Secured
Convertible Promissory Notes due May 27, 2023 in the original principal amount of $________ is issued by CorpHousing Group Inc. (the
 “Company”). This Conversion Schedule reflects conversions made under Section 4 of the above referenced Note.

 

Dated:

 

	
     

     

     

     

    Date of Conversion

    (or for first entry, Original Issue Date)
	
     

     

     

     

     

    Amount of Conversion
	
    Aggregate Principal 

Amount Remaining 

Subsequent to 

Conversion

(or original Principal 

Amount)
	
     

     

     

     

     

    Company AttestExhibit 10.17

 

AMENDED AND RESTATED

GUARANTY AND SECURITY AGREEMENT

 

This AMENDED AND RESTATED
GUARANTY AND SECURITY AGREEMENT (this “Security Agreement”) is made as of June 30, 2022, by and among CorpHousing Group
Inc., a Delaware corporation (the “Company”), the subsidiaries of the Company named on the signature pages hereto (the
 “Guarantors” and individually a “Guarantor”), and Greenle Partners LLC Series Alpha P.S. (the “Lender”).
The Company and the Guarantors are collectively referred to in this Security Agreement as the “Grantors” and the Grantors
and the Lender are collectively referred to in this Security Agreement as the “Parties.”

 

WHEREAS, the Lender has previously
acquired from Evergreen Capital Management LLC (“Evergreen Capital”) a promissory note of the Company dated May 27, 2022
in the original principal amount of $1,750,000 (the “May Note”) issued pursuant to a Securities Purchase Agreement, dated
as of May 27, 2022 (the “May Purchase Agreement”), between the Company and Evergreen Capital, that was secured pursuant
to the terms of a Guaranty and Security Agreement dated as of May 27, 2022 (the “Original Security Agreement”) among
the Company, the Guarantors and Evergreen Capital, which has been assigned by Evergreen Capital to the Lender;

 

WHEREAS, the Lender has agreed
to lend to the Company in one or more tranches up to $5,000,000 (each, a “Loan” and collectively the “Loans”)
pursuant to a Securities Purchase Agreement, dated as of even date herewith (the “June Purchase Agreement”), between
the Company and the Lender, which Loans shall initially be evidenced by one or more promissory notes issued pursuant to the June Purchase
Agreement (the “June Notes” and, together with the May Note and any additional promissory notes that may be issued
under the June Purchase Agreement, the “Notes”). Capitalized terms used herein and not otherwise defined herein having
the meanings set forth in the June Notes or, if not defined therein, in the June Purchase Agreement;

 

WHEREAS, as a condition precedent
to the Loans and as security for repayment of the Loans upon the terms set forth in the June Notes and the guarantees of the Guarantors
hereunder, the Guarantors also agree to guaranty all obligations of the Company under the June Notes and the other obligations of
the Company under the Transaction Documents (as defined in the June Purchase Agreement), and the Grantors agree to execute and deliver
this Security Agreement to the Lender and hereby to pledge and grant to the Lender a lien on and security interest in all of Grantors’
rights and interest the Pledged Collateral (as defined below), whether now owned or hereafter acquired;

 

WHEREAS, as an additional
condition to the Loans, the Company and the Guarantors agree to amend and restate in its entirety the Original Security Agreement on the
terms set forth in this Security Agreement.

 

NOW, THEREFORE, in consideration
of the premises and in order to induce the Lender to make the Loans and accept the June Notes, the Parties hereby agree as follows:

 

SECTION 1.          Pledge.
Each Grantor hereby pledges and delivers to the Lender and reaffirms its prior pledge and delivery to the Lender, and hereby grants to
the Lender and reaffirms it prior grant to the Lender, of a lien on and security interest in all of each Grantor’s right, title,
and interest in and with respect to each of the following, whether now owned or hereafter acquired (collectively, the “Pledged Collateral”):

 

(a)             the
properties, assets, and rights of the Grantor described in Attachment 1 hereto, wherever located, whether such Grantor now has
or hereafter acquires an ownership or other interest or power to transfer; and

 

    

     

    

 

(b)             to
the extent not covered by subsection (a) above, all general intangibles (including causes of action) relating to, and all proceeds
of, any or all of the foregoing Pledged Collateral;

 

provided, however, that if a Document or Instrument
(each as defined in Attachment 1 hereto) or other agreement or lease of a Grantor may not be pledged by such Grantor hereunder
without the consent or approval of a counterparty thereto, such Document, Instrument, agreement or lease shall not be deemed pledged
to the Lender, and the Lender shall not be deemed to have a lien on or a security interest therein, until such consent or approval of
such counterparty is obtained, and the Grantors shall use commercially reasonable best efforts to obtain such consent or approval as soon
as practicable following the first date on which such Document, Instrument, agreement or lease would otherwise be pledged to the
Lender as Pledged Collateral hereunder.

 

For purposes of this Agreement,
 “proceeds” includes whatever is receivable or received when Pledged Collateral or proceeds are sold, exchanged, collected,
or otherwise disposed of, whether such disposition is voluntary or involuntary, and includes proceeds of any indemnity or guaranty payable
to Grantor or the Company from time to time with respect to any of the Pledged Collateral.

 

SECTION 2.          Security
for Obligations. This Security Agreement secures the prompt and complete (a) payment of all obligations of the Grantors to the
Lender now or hereafter existing under this Security Agreement, the Notes and any and all Transaction Documents (as such term is defined
in each of the May Purchase Agreement and the June Purchase Agreement), including, without limitation, the payment of the Revenue
Share (as such term is defined in Section 5.1 of each of the May Purchase Agreement and the June Purchase Agreement); and
(b) performance and observance by the Grantors of all of their respective covenants and conditions contained in the Transaction Documents
(as such term is defined in each of the May Purchase Agreement and the June Purchase Agreement). All such obligations, covenants
and conditions described in the immediately preceding clauses (a) and (b), whether for principal, interest, fees, expenses, or otherwise,
are hereinafter collectively referred to as the “Obligations.” Upon repayment in full of all of the Obligations other than
the Obligations relating to the Revenue Share under the May Purchase Agreement and the June Purchase Agreement (such Obligations,
the “Revenue Share Obligations”)), or conversion of 100% of the outstanding Notes into common stock of the Company
(as provided in the Notes) or exchange of 100% of the outstanding Notes for shares of preferred stock of the Company as contemplated by
the June Purchase Agreement, the Company shall provide the Lender with such amendments or modifications to the UCC Financing Statements
filed with respect to the any and all of the Pledged Collateral necessary to amend or modify such UCC Financing Statements to remove from
the Pledged Collateral all Pledged Collateral other than (i) the equity interests of the Grantors in CH Revenue Share Lease HoldCo
LLC, a Delaware limited liability company (“Lease Holdco”) and (ii) the properties, assets, and rights of Lease
Holdco described in Attachment 1 hereto, wherever located, whether Lease Holdco now has or hereafter acquires an ownership or other
interest or power to transfer thereof, and all general intangibles (including causes of action) relating to, and all proceeds of, any
or all of the foregoing Pledged Collateral (the Pledged Collateral referred to in (i) and (ii), collectively, the “Revenue
Share Collateral”), and Lender shall promptly execute and return same to
the Company (and in no event less than five business days following receipt of such UCC amendments); provided, that if such UCC amendments
are not executed by the Lender and delivered to the Company within such five-day period, the Company shall be entitled to prepare, execute
and file same. Upon repayment in full of all of the Obligations including the Revenue Share Obligations, the Company shall provide the
Lender with UCC termination statements and other documentation necessary to terminate (the “UCC Terminations”) any UCC Financing
Statements filed with respect to any and all Pledged Collateral and Lender shall promptly execute and return same to the Company (and
in no event less than five business days following receipt of such UCC Terminations); provided, that if such UCC Terminations are not
executed by the Lender and delivered to the Company within such five-day period, the Company shall be entitled to prepare, execute and
file same.

 

    AMENDED & RESTATED GUARANTY AND SECURITY AGREEMENT – PAGE 2

     

    

 

For purposes of clarity, in
circumstances where all amounts payable under the Notes, including principal thereunder and interest thereon, have been paid by the Company
(or converted into common stock or preferred stock of the Company), (a) the pledge and grant by the Grantors to the Lender of a security
interest in the Pledged Collateral, other than the Revenue Share Collateral, shall be terminated, and (b) the Company shall be entitled
to amend or modify the UCC Financing Statements filed with respect to the Pledged Collateral to remove all Pledged Collateral other than
the Revenue Share Collateral, and (c) the Revenue Share Collateral shall thereafter be the only collateral pledged by the Grantors
to secure the payment obligations of the Grantors with respect to the Revenue Share Obligations and the obligations of the Grantors under
this Security Agreement and the other Transactions Documents.

 

SECTION 3.          UCC
Financing Statements on Pledged Collateral. Grantors agree that at any time and from time to time each Grantor will promptly execute
and deliver all further instruments, UCC financing statements, and documents, and take all further action that may be reasonably desirable,
or that the Lender may reasonably request, in order to perfect and protect any security interest granted or purported to be granted hereby
or to enable the Lender to exercise and enforce its rights and remedies hereunder with respect to any of the Pledged Collateral. Each
Grantor shall deliver to Lender within three (3) Business Days of the date of execution of this Security Agreement a form of UCC
financing statement(s) prepared by Lender and in form reasonably satisfactory to the Grantor and consistent with this Agreement with
respect to the Pledged Collateral, to be filed and recorded by the Lender at its own discretion. Lender may, at any time and from time
to time, upon the occurrence and during the continuance of an Event of Default, subject to grace and cure periods under the Notes and
a cure period hereunder of fourteen (14) days for the Company or any Guarantor to correct any Default, in order to facilitate the Lender’s
exercise of its rights and remedies hereunder, in its discretion and without notice to any Grantor, to transfer to or to register in the
name of the Lender or any of its nominees, part or all of the Pledged Collateral.

 

SECTION 4.          Further
Assurances; Information; Legending the Certificates. Each Grantor shall cooperate in the completion of, and execute and deliver, any
and all notices, forms, schedules or other documents which may be filed by the Lender on its own behalf or on behalf of such Grantor,
including any and all required notices or statements, and do or cause to be done all such other acts and things, necessary or, in the
opinion of the Lender, advisable, for the disposition of any part of the Pledged Collateral pursuant to applicable law.

 

SECTION 5.          Representations
and Warranties. Each Grantor represents and warrants to the Lender that:

 

(a)             No
currently effective UCC financing statement covering any of the Pledged Collateral is on file in any public office other than financing
statements, if any, related to Permitted Liens (for purposes of this Agreement, “Permitted Liens” means (A) statutory
liens of landlords and liens of carriers, warehousemen, bailees, mechanics, materialmen and other like liens imposed by law, created in
the ordinary course of business and securing amounts not yet due (or which are being contested in good faith, by appropriate proceedings
or other appropriate actions which are sufficient to prevent imminent foreclosure of such liens), and with respect to which adequate reserves
or other appropriate provisions are being maintained by a Grantor, (B) deposits made (and the liens thereon) in the ordinary course
of business of a Grantor (including, without limitation, security deposits for leases, indemnity bonds, surety bonds and appeal bonds)
in connection with workers’ compensation, unemployment insurance and other types of social security benefits or to secure the performance
of tenders, bids, contracts (other than for the repayment or guarantee of borrowed money or purchase money obligations), statutory obligations
and other similar obligations arising as a result of progress payments under government contracts, (C) liens for taxes not yet due
and payable or which are being contested in good faith and with respect to which adequate reserves are being maintained by a Grantor,
(D) purchase money liens relating to the acquisition of equipment, machinery or other goods of a Grantor and (E) liens created
by the Original Security Agreement, which liens are reaffirmed pursuant to this Security Agreement (provided, that in the event of any
discrepancy between the Original Security Agreement and this Security Agreement, this Security Agreement shall prevail);

 

    AMENDED & RESTATED GUARANTY AND SECURITY AGREEMENT – PAGE 3

     

    

 

(b)             Such
Grantor is and will remain the legal and beneficial owner of the Pledged Collateral, free of all liens and claims whatsoever, other than
Permitted Liens, and with full power and authority to execute this Security Agreement and perform its obligations hereunder, and to subject
the Pledged Collateral to the security interest hereunder, except for sales, transfers, dispositions, modifications and amendments, as
contemplated by the May Purchase Agreement or the June Purchase Agreement, including dispositions of assets (including leases
and lease rights) in the ordinary course of business, and the use of revenue proceeds generated through or from the Pledged Assets in
the ordinary course of business;

 

(c)             All
information with respect to the Pledged Collateral set forth in any schedule, certificate or other writing at any time hereafter furnished
by Grantors to the Lender, and all other written information hereafter furnished by Grantors to the Lender, is and will be true and correct
in all material respects as of the date furnished;

 

(d)             The
execution and delivery of this Security Agreement and the performance by each Grantor of its obligations hereunder do not and will not
contravene or conflict with any provision of presently effective law or of any agreement binding upon such Grantor, and this Security
Agreement is a legal, valid and binding obligation of each Grantor, enforceable in accordance with its terms, except as such enforceability
may be limited by any applicable bankruptcy, insolvency or similar laws and by general principles of equity; and

 

(e)             For
the purposes of notices under this Agreement, the Company and each of the Grantors shall accept notice at the address for notices set
forth with the Company’s signature hereto.

 

(f)             The
Grantors hereby represent and warrant that (a) set forth on Schedule I hereto is (i) the legal name of each Grantor, (ii) the
jurisdiction of incorporation or organization of each Grantor, (iii) the identity or type of organization or corporate structure
of each Grantor (iv) the Federal Taxpayer Identification Number and organizational number of each Grantor and (v) the true and
correct location of the chief executive office of each Grantor and principal place of business and any office in which each Grantor maintains
books of records relating to Collateral owned by it.

 

SECTION 6.          Covenants.
During the term of this Security Agreement, each Grantor covenants and agrees with the Lender as follows:

 

(a)             Such
Grantor shall give the Lender written notice of any change to the address referenced in Section 5(e);

 

(b)             Such
Grantor shall duly fulfill in all material respects all obligations on its part to be fulfilled under or in connection with the Pledged
Collateral and shall do nothing to impair in any material respect the rights of the Lender therein;

 

(c)             Following
the occurrence and during the continuance of an Event of Default, any proceeds of Pledged Collateral that is not subject to a prior lien,
when first received by or on behalf of such Grantor, if so requested by the Lender, shall be deposited by or on behalf of Grantor in the
form so received in such account as the Lender shall specify, and until so deposited shall be held in trust for and as the Lender’s
property and shall not be commingled with such Grantor’s or any other Person’s other funds or properties;

 

    AMENDED & RESTATED GUARANTY AND SECURITY AGREEMENT – PAGE 4

     

    

 

(d)             Such
Grantor shall (i) comply in all material respects with all applicable laws with respect to the Pledged Collateral or any part thereof,
(ii) pay promptly when due all taxes, assessments and governmental charges or levies imposed upon the Pledged Collateral or in respect
of its income or profits therefrom and all claims of any kind which, if unpaid, might by law become a lien upon the Pledged Collateral
or in respect of its income or profits therefrom, except that such Grantor shall not be required to pay or discharge any such tax, assessment,
charge, or claim which is being contested in good faith and by proper proceedings, and (iii) advise the Lender promptly, in reasonable
detail, of any lien or claim made or asserted against any of the Pledged Collateral other than Permitted Liens;

 

(e)             If
the validity or priority of this Security Agreement or of any right, title, security interest, or other interest created or evidenced
hereby shall be attacked, endangered, or questioned or if any legal proceedings are instituted against such Grantor with respect thereto,
such Grantor will give prompt written notice thereof to the Lender and will diligently endeavor to cure any defect that may be developed
or claimed, and will take all necessary and proper steps for the defense of such legal proceedings, and the Lender (whether or not named
as a party to legal proceedings with respect thereto) is hereby authorized and empowered to take such additional steps as in its judgment
and discretion may be necessary or proper for the defense of any such legal proceedings or the protection of the validity or priority
of this Security Agreement and the right, title, security interest, and other interests created or evidenced hereby, and all expenses
so incurred of every kind and character shall be a demand obligation owing by such Grantor, and the Person incurring such expenses shall
be subrogated to all rights of the Person receiving such payment;

 

(f)              Such
Grantor will, on request of the Lender, (i) promptly correct any defect, error or omission which may be discovered in the contents
of this Security Agreement or in any other instrument executed in connection herewith or in the execution or acknowledgment thereof; (ii) execute,
acknowledge, deliver and record or file such further instruments (including further security agreements, financing statements and continuation
statements) and do such further acts as may be necessary, desirable or proper to carry out more effectively the purposes of this Security
Agreement and such other instruments and to subject to the security interests hereof and thereof any property intended by the terms hereof
and thereof to be covered hereby and thereby, including any renewals, additions, substitutions, replacements or appurtenances to the Pledged
Collateral; and (iii) execute, acknowledge, deliver, procure and record or file any document or instrument (including any financing
statement) deemed advisable by the Lender to protect the security interest hereunder against the rights or interests of third persons;

 

(g)             Such
Grantor shall account fully and faithfully for and, if the Lender so elects following the occurrence and during the continuance of an
Event of Default, shall promptly pay or turn over to the Lender the proceeds in whatever form received from disposition in any manner
of any of the Pledged Collateral. Such Grantor shall keep accurate and complete records of the Pledged Collateral and its proceeds;

 

(h)             From
time to time, upon demand of the Lender, such Grantor will keep and stamp or otherwise mark any and all instruments, documents and chattel
paper and its individual books and records relating to any of the Pledged Collateral in such a manner as the Lender may reasonably require;
and

 

(i)              Such
Grantor shall furnish the Lender all such information as the Lender may reasonably request with respect to the Pledged Collateral.

 

    AMENDED & RESTATED GUARANTY AND SECURITY AGREEMENT – PAGE 5

     

    

 

SECTION 7.          Voting
Rights; Dividends; Etc.

 

(a)            So
long as no Event of Default shall have occurred and be continuing:

 

(i)             Each
Grantor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Pledged Collateral or any part
thereof for any purpose not inconsistent with the terms of this Security Agreement or any other Transaction Document; provided, however,
that each Grantor shall give the Lender at least five (5) days’ written notice of the manner in which he intends to exercise,
or the reasons for refraining from exercising, any voting or other consensual rights pertaining to the Pledged Collateral or any part
thereof which may have a material adverse effect on the value of the Pledged Collateral or any part thereof.

 

(ii)            Any
and all of the following shall be delivered in the ordinary course and pursuant to the Company’s charter and by-laws:

 

(A)            dividends
or interest paid or payable other than in cash in respect of, and instruments and other property received, receivable, or otherwise distributed
in respect of, or in exchange for, any Pledged Collateral; and

 

(B)            dividends
and other distributions hereafter paid or payable in cash in respect of any Pledged Collateral in connection with a partial or total liquidation
or dissolution or in connection with a reduction of capital, capital surplus or paid-in-surplus.

 

(b)            Upon
the occurrence and during the continuance of an Event of Default:

 

(i)             All
rights of each Grantor to exercise the voting and other consensual rights which he would otherwise be entitled to exercise pursuant to
Section 7(a)(i) shall cease, and all such rights shall thereupon become vested in the Lender, which shall thereupon have the
sole right to exercise such voting and other consensual rights.

 

(ii)            Each
Grantor shall execute and deliver (or cause to be executed and delivered to the Lender) all such proxies and other instruments as the
Lender may reasonably request for the purpose of enabling the Lender to exercise the voting and other rights which it is entitled to exercise
pursuant to Section 7(b)(i) and to receive the dividends or interest payments which it is entitled to receive and retain pursuant
to this Section 7.

 

(iii)           Dividends
or any other cash distributions received by any Grantor in respect of the Pledged Collateral with the exception of cash distributions
received from the Company to satisfy Grantor’s tax obligations due to Company profits and to fulfill Grantor’s covenant of
Section 6(d) hereof prior to payment in full of all amounts due and owing under or in connection with the Obligations (including
principal, premium, if any, interest, fees and expenses on or in connection with the Obligations) shall be received and held in trust
for the Lender, and will be promptly paid over to the Lender in the form received for application to the payment of such obligations until
all such Obligations have been paid in full in such manner and order and at such time as the Lender shall select.

 

SECTION 8.          No
Transfers and Other Liens. Except as set forth in the May Purchase Agreement, the June Purchase Agreement or this Security
Agreement, no Grantor shall sell, exchange or otherwise dispose of, or grant any option, warrant, or other right with respect to or any
interest in, any of the Pledged Collateral or create or permit to exist any lien upon or with respect to any of the Pledged Collateral
(other than (A) the lien created hereby, (B) Permitted Liens, (C) the transfer of goods, inventory and Collateral
in the ordinary course of a Grantor’s business, and (D) transfers to the Company or other subsidiaries of the Company or a
Grantor that have pledged their assets as collateral to secure payment of the Secured Obligations.

 

    AMENDED & RESTATED GUARANTY AND SECURITY AGREEMENT – PAGE 6

     

    

 

SECTION 9.          The
Lender Appointed Attorney-in-Fact. Each Grantor hereby irrevocably appoints the Lender to be Grantor’s attorney-in-fact, with
full authority in the place and stead of Grantor and in the name of Grantor, from time to time in the Lender’s discretion, to take
any action and to execute any instrument which the Lender may deem necessary or advisable to accomplish the purposes of this Security
Agreement, including:

 

(a)             to
ask, demand, collect, sue for, recover, compound, receive, and give acquittance and receipts for moneys due and to become due under or
in respect of any of the Pledged Collateral;

 

(b)             to
receive, endorse and collect any drafts or other instruments, documents, and chattel paper in connection with Section 9(a); and

 

(c)             to
file any claims or take any action or institute any proceedings which the Lender may deem necessary or desirable for the collection of
any of the Pledged Collateral or otherwise to enforce the rights of the Lender with respect to any of the Pledged Collateral.

 

SECTION 10.        The
Lender May Perform. If any Grantor fails to perform any covenant or agreement herein, the Lender may itself perform, or cause
performance of, such covenant or agreement, and the expenses of the Lender incurred in connection therewith shall be payable by Grantor.

 

SECTION 11.        Reasonable
Care. The Lender shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its
possession if the Pledged Collateral is accorded treatment substantially equal to that which the Lender accords its own property, it being
understood that the Lender shall not have any responsibility for (a) ascertaining or taking action with respect to calls, conversions,
exchanges, maturities, tenders, or other matters relative to any Pledged Collateral, whether or not the Lender has or is deemed to have
knowledge of such matters, or (b) taking any necessary steps to preserve rights against any Persons with respect to any Pledged Collateral.

 

SECTION 12.        Remedies
upon an Event of Default; Recourse Nature of Grantor’s Obligations. If any Event of Default shall have occurred:

 

(a)             The
Lender may exercise in respect of the Pledged Collateral, in addition to other rights and remedies provided for herein or otherwise available
to it, all the rights and remedies of a Lender on default under the UCC, or under the laws of any other applicable jurisdiction, at that
time, and the Lender may also, without notice except as specified below, sell the Pledged Collateral or any part thereof in one or more
parcels at public or private sale, at any exchange, broker’s board or at any of the Lender’s offices or elsewhere, for cash,
on credit, or for future delivery, and upon such other terms as the Lender may deem commercially reasonable. Each Grantor agrees that,
to the extent notice of sale shall be required by law, at least ten (10) days’ notice to Grantor of the time and place of any
public sale or the time after which any private sale is to be made shall constitute reasonable notification. The Lender shall not be obligated
to make any sale of Pledged Collateral, regardless of whether notice of sale has been given. The Lender may adjourn any public or private
sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the
time and place to which it was so adjourned. The Lender is authorized to conduct any private sale of the Pledged Collateral or any part
thereof in a manner that will not require the Pledged Collateral or any part thereof to be registered under the Securities Act or any
other applicable securities laws. In this regard, each Grantor acknowledges and agrees that the Lender may, in its discretion, approach
a restricted number of potential purchasers and that a sale under those circumstances may yield a lower price for the Pledged Collateral
or any part thereof then would otherwise be obtainable if the sale of the Pledged Collateral or any part thereof were registered under
the Securities Act and applicable state securities laws. Each Grantor agrees that (i) if the Lender shall so sell the Pledged Collateral
or any part thereof at such a private sale or sales, the Lender shall have the right to rely upon the advice or opinion of any federally
registered securities broker or dealer as to the best price reasonably obtainable upon such a private sale and (ii) such reliance
shall be conclusive evidence that the Lender handled such matter in a commercially reasonable manner.

 

    AMENDED & RESTATED GUARANTY AND SECURITY AGREEMENT – PAGE 7

     

    

 

(b)             In
addition to the rights of the Lender under Section 7, any cash held by the Lender as Pledged Collateral and all cash proceeds received
by the Lender in respect of any sale of, collection from, or other realization upon all or any part of the Pledged Collateral may, in
the discretion of the Lender, be held by the Lender as collateral for, and then or at any time thereafter applied in whole or in part
by the Lender against, the Obligations in such order as the Lender shall select. Any surplus of such cash or cash proceeds and interest
accrued thereon, if any, held by the Lender and remaining after payment in full of all the Obligations shall be paid over to Grantors,
or to whomsoever may be lawfully entitled to receive such surplus, within a reasonable period of time; provided, that the Lender shall
have no obligation to invest or otherwise pay interest on any amounts held by it in connection with or pursuant to this Security Agreement.

 

(c)             Without
limiting in any manner any of any Grantor’s obligations or any of the Lender's rights under any of the other terms and provisions
of this Security Agreement or under any of the terms of the Notes, each Grantor’s liability, and the Lender's recourse to any assets
of Grantor other than the Pledged Collateral, upon the occurrence of any Event of Default shall be per the Guaranty between the Lender
and Grantors set forth herein.

 

SECTION 13.        Security
Interest Absolute. All rights of the Lender hereunder and all obligations of Grantors hereunder, and the security interest created
hereunder shall, to the extent permitted by applicable law, be absolute and unconditional, irrespective of:

 

(a)             any
lack of validity or enforceability of any of the Transaction Documents;

 

(b)             any
change in the time, manner, or place of payment of, or in any other term of, all or any of the Obligations or any other amendment or waiver
of or any consent to any departure from any of the Transaction Documents;

 

(c)             any
exchange, release, or non-perfection of any collateral standing as security for the Obligations or any liabilities incurred directly or
indirectly hereunder or any set-off against any of such liabilities, or any release or amendment or waiver of or consent to departure
from any guaranty, for all or any of the Obligations; or

 

(d)             any
other circumstance which might otherwise constitute a defense available to, or a discharge of, Grantor, or any other Person that is obligated
in respect of any of the Obligations.

 

SECTION 14.        Continuing
Security Interest; Assignment. This Security Agreement shall create a continuing security interest in the Pledged Collateral and shall
(a) be binding upon each Grantor and its executors, trustees, receivers, successors and permitted assigns; and (b) inure to
the benefit of and be enforceable by the Lender, and its trustees, receivers, successors and assigns. No Grantor may assign any of its
rights or obligations under this Security Agreement without the Lender's prior written consent; and any such purported assignment without
such consent shall be void and ineffective.

 

SECTION 15.        Waiver
of Marshalling. All rights of marshalling of assets of each Grantor, including any such right with respect to the Pledged Collateral,
are hereby waived by Grantors.

 

    AMENDED & RESTATED GUARANTY AND SECURITY AGREEMENT – PAGE 8

     

    

 

SECTION 16.        Additional
Guarantors. The Company agrees that any Subsidiary (defined below) of the Company that is not
already a party to this Agreement shall, within five (5) business days of becoming a Subsidiary, become a Subsidiary Grantor, with
the same force and effect as if originally named as Subsidiary Grantor herein, for all purposes of this Agreement by executing and delivering
to the Collateral Agent a written supplement substantially in the form of Annex A hereto. The execution and delivery of any instrument
adding an additional Subsidiary Grantor as a party to this Agreement shall not require the consent of any other Grantor hereunder. The
rights and obligations of each Subsidiary Grantor hereunder shall remain in full force and effect notwithstanding the addition of any
new Subsidiary Grantor as a party to this Agreement. For purposes of this Section 16, “Subsidiary” means
a corporation, partnership, joint venture, limited liability company or other business entity of which a majority of the shares of securities
or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests
having such power only by reason of the happening of a contingency) are at the time beneficially owned, or the management of which is
otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by the Company.

 

SECTION 17.        No
Waiver; Remedies. No failure on the part of the Lender to exercise, and no delay in exercising, any right hereunder shall operate
as a waiver thereof; nor shall any single or partial exercise of any right hereunder preclude any other or further exercise thereof or
the exercise of any other right. The remedies herein provided are cumulative and not exclusive of any remedies provided by law.

 

SECTION 18.        GOVERNING
LAW. THIS SECURITY AGREEMENT AND THE OTHER TRANSACTION DOCUMENTS SHALL BE DEEMED TO BE CONTRACTS AND AGREEMENTS EXECUTED BY THE PARTIES
HERETO UNDER THE LAWS OF THE STATE OF DELAWARE, AND SHALL BE GOVERNED BY, ENFORCED UNDER, AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF DELAWARE AND APPLICABLE FEDERAL LAW.

 

SECTION 19.        Notices:
Notices, reports, and other communications hereunder shall be in writing, shall be given by personal or courier service or by mail, and
shall be deemed to be given and received (i) upon the addressee's receipt if delivered in person or by courier or (ii) upon
the earlier of the addressee's receipt and three Business Days following the date such notices, reports, and payments are placed in the
United States mail, if properly posted with postage prepaid, by certified mail in an envelope properly addressed, to the addresses denoted
under the signatures of the Grantors and the Lender hereto or to such other address as any Party may specify in a written notice to the
other Parties in accordance with this Section 19.

 

SECTION 20.        Headings;
Certain Terms. The headings in this Security Agreement are for convenience only and are in no way intended to describe, interpret,
define, or limit the scope, extent, or intent of this Security Agreement or any provision hereof. In this Security Agreement, (a) “include”
and “including” do not signify or imply any limitation, (b) “Section” refers to a Section of
this Security Agreement, unless otherwise stated, (c) “hereunder,” “hereof,” “hereto,”
and similar terms are references to this Security Agreement as a whole, and not to any particular provision of this Security Agreement,
and (d) “UCC” refers to the Uniform Commercial Code in effect in the State of Delaware.

 

SECTION 21.        FINAL
AGREEMENT OF THE PARTIES: THIS SECURITY AGREEMENT, TOGETHER WITH THE OTHER TRANSACTION DOCUMENTS (AS SUCH TERM IS DEFINED IN EACH
OF THE MAY PURCHASE AGREEMENT AND THE JUNE PURCHASE AGREEMENT, CONSTITUTES THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT
BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO ORAL AGREEMENTS BETWEEN
THE PARTIES.

 

    AMENDED & RESTATED GUARANTY AND SECURITY AGREEMENT – PAGE 9

     

    

 

SECTION 22.        Guaranty.
The Guarantors hereby, jointly and severally, absolutely, irrevocably and unconditionally guarantee the punctual payment when due, whether
at stated maturity, by acceleration or otherwise, of the Obligations and the performance of all agreements of the Company now or hereafter
existing under the Notes and the other Transaction Documents (as such term is defined in each of the May Purchase Agreement and the
June Purchase Agreement), whether for principal, interest, fees, expenses or otherwise. In the event of any failure of the Company
to pay or perform when due the Obligations under the Notes and the other Transaction Documents (as such term is defined in each of the
May Purchase Agreement and the June Purchase Agreement), the Guarantors will, jointly and severally, immediately pay and perform
the same at the time and place, and in the funds and manner, provided for in the applicable Transaction Documents (as such term is defined
in each of the May Purchase Agreement and the June Purchase Agreement), without set-off, counterclaim or deduction of any kind.

 

[Signature Page Follows]

 

    AMENDED & RESTATED GUARANTY AND SECURITY AGREEMENT – PAGE 10

     

    

 

IN WITNESS WHEREOF, the Parties
have caused this Security Agreement to be duly executed and delivered as of the date first above written.

 

	 	 	LENDER:
	 	 	 
	 	 	Greenle Partners LLC Series Alpha P.S.
	 	 	 
	 	 	By:	 
	 	 	 	Alan Uryniak
	 	 	 	Managing Member
	 	 	 	156 West Saddle River Road
	 	 	 	Saddle River, NJ 07458

 

	THE COMPANY:	 	 
	 	 	 
	CorpHousing Group Inc.,	 	 
	a Delaware corporation	 	 
	 	 	 	 	 
	 	 	 	 	 
	By:		 	 
	 	Brian Ferdinand	 	 
	 	Chief Executive Officer	 	 
	 	2125 Biscayne Blvd., Suite 253	 	 
	 	Miami, Florida  33137	 	 
	 	 	 	 	 
	GUARANTORS:	 	 
	 	 	 
	SoBeNY Partners Inc.,	 	 
	a Delaware corporation	 	 
	 	 	 	 	 
	 	 	 	 	 
	By:	 	 	 
	 	Name:	Brian Ferdinand	 	 
	 	Title:	Chief Executive Officer of CorpHousing Group Inc., Manager	 	 
	 	 	2125 Biscayne Blvd., Suite 253	 	 
	 	 	Miami, Florida  33137	 	 
	 	 	 	 	 
	 	 	 	 	 
	LuxUrban RE Holdings LLC,	 	 
	a Delaware limited liability company	 	 
	 	 	 	 	 
	 	 	 	 	 
	By:	 	 	 
	 	Name:	Brian Ferdinand	 	 
	 	Title:	Chief Executive Officer of CorpHousing Group Inc., Manager	 	 
	 	 	2125 Biscayne Blvd., Suite 253	 	 
	 	 	Miami, Florida  33137	 	 

 

    AMENDED & RESTATED GUARANTY AND SECURITY AGREEMENT – PAGE 11

     

    

 

	LuxUrban LLC,	 	 
	a Delaware limited liability company	 	 
	 	 	 	 	 
	 	 	 	 	 
	By:	 	 	 
	 	Name:	Brian Ferdinand	 	 
	 	Title:	Chief Executive Officer of CorpHousing Group Inc., Manager	 	 
	 	 	2125 Biscayne Blvd., Suite 253	 	 
	 	 	Miami, Florida  33137	 	 
	 	 	 	 	 
	 	 	 	 	 
	S-Be Rentals, LLC,	 	 
	a Florida limited liability company	 	 
	 	 	 	 	 
	 	 	 	 	 
	By:	 	 	 
	 	Name:	Brian Ferdinand	 	 
	 	Title:	Chief Executive Officer of CorpHousing Group Inc., Manager	 	 
	 	 	2125 Biscayne Blvd., Suite 253	 	 
	 	 	Miami, Florida  33137	 	 
	 	 	 	 	 
	 	 	 	 	 
	Corphousing UK Limited,	 	 
	a UK private limited company	 	 
	 	 	 	 	 
	 	 	 	 	 
	By:	 	 	 
	 	Name:	Brian Ferdinand	 	 
	 	Title:	Chief Executive Officer of CorpHousing Group Inc., Manager	 	 
	 	 	2125 Biscayne Blvd., Suite 253	 	 
	 	 	Miami, Florida  33137	 	 
	 	 	 	 	 
	 	 	 	 	 
	CorpHousing RSL LLC,	 	 
	a Delaware limited liability company	 	 
	 	 	 	 	 
	 	 	 	 	 
	By:	 	 	 
	 	Name:	Brian Ferdinand	 	 
	 	Title:	Chief Executive Officer of CorpHousing Group Inc., Manager	 	 
	 	 	2125 Biscayne Blvd., Suite 253	 	 
	 	 	Miami, Florida  33137	 	 

 

    AMENDED & RESTATED GUARANTY AND SECURITY AGREEMENT – PAGE 12

     

    

 

ATTACHMENT 1

 

All right, title, interest, claims and demands of each Grantor in and
to the following property now held by or hereafter acquired by such Grantor:

 

		1.	All Accounts;

 

		2.	All Chattel Paper;

 

		3.	All Deposit Accounts and cash;

 

		4.	All Documents;

 

		5.	All General Intangibles;

 

		6.	All Goods;

 

		7.	All Instruments;

 

		8.	All Intellectual Property;

 

		9.	All Inventory;

 

		10.	All Investment Property;

 

		11.	All Unencumbered Equipment;

 

		12.	All Pledged Equity; and

 

		13.	All Letter-of-Credit Rights.

 

To the extent not otherwise included, all Proceeds
and products of any and all of the foregoing, and all accessions to, substitutions and replacements for, and rents and profits of each
of the foregoing.

 

The term “Equity Interests”
means, with respect to any Person, all of the shares of capital stock of (or other ownership or profit interests in) such Person, all
of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership
or profit interests in) such Person, all of the securities convertible into or exchangeable for shares of capital stock of (or other ownership
or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or
such other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests
therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other interests are outstanding on
any date of determination.

 

The term “Intellectual Property”
means, with respect to each Grantor, all intellectual and similar property of every kind and nature now owned or hereafter acquired
by such Grantor, including inventions, designs, patents (whether registered or unregistered), copyrights (whether registered or unregistered),
trademarks (whether registered or unregistered), trade secrets, domain names, confidential or proprietary technical and business information,
know-how, methods, processes, drawings, specifications or other data or information and all memoranda, notes and records with respect
to any research and development, software and databases and all embodiments or fixations thereof whether in tangible or intangible form
or contained on magnetic media readable by machine together with all such magnetic media and related documentation, registrations and
franchises, and all additions, improvements and accessions to, and books and records describing or used in connection with, any of the
foregoing.

 

    AMENDED & RESTATED GUARANTY AND SECURITY AGREEMENT – PAGE 13

     

    

 

The term “Person” means an
individual, corporation, partnership, joint venture, trust, unincorporated organization or other entity of whatever nature.

 

The term “Pledged Equity” means,
with respect to each Grantor, 100% of the issued and outstanding Equity Interests of each Subsidiary that is directly owned by such Grantor,
including, without limitation, the Equity Interests of the Subsidiary Grantors, in each case together with the certificates (or other
agreements or instruments), if any, representing such shares, and all options and other rights, contractual or otherwise, with respect
thereto, including, but not limited to, the following: (a) all Equity Interests representing a dividend thereon, or representing
a distribution or return of capital upon or in respect thereof, or resulting from a stock split, revision, reclassification or other exchange
therefor, and any subscriptions, warrants, rights or options issued to the holder thereof, or otherwise in respect thereof; and (b) in
the event of any consolidation or merger involving the issuer thereof and in which such issuer is not the surviving Person, all shares
of each class of the Equity Interests of the successor Person formed by or resulting from such consolidation or merger, to the extent
that such successor Person is a direct Subsidiary of such Grantor.

 

The term “Subsidiary” means
a corporation, partnership, joint venture, limited liability company or other business entity of which a majority of the shares of securities
or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests
having such power only by reason of the happening of a contingency) are at the time beneficially owned, or the management of which is
otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by a Grantor.

 

All capitalized terms used in this Attachment
1 and not otherwise defined herein, shall have the respective meanings given to such terms in the Uniform Commercial Code of the State
of Delaware as in effect from time to time.

 

    AMENDED & RESTATED GUARANTY AND SECURITY AGREEMENT – PAGE 14

     

    

 

SCHEDULE I

TO THE

GUARANTY AND SECURITY AGREEMENT

 

	Legal Name
 and
                                            Address
	 	Jurisdiction
    of
 Incorporation or
 Organization	 	Type
    of
 Organization or
 Corporate
 Structure	 	Federal Taxpayer

    Identification
 Number and
 Organizational
 Identification
 Number
	CorpHousing Group Inc.	 	Delaware	 	Corporation	 	 
	SoBeNY Partners Inc.	 	Delaware	 	Corporation	 	 
	LuxUrban RE Holdings LLC	 	Delaware	 	Limited Liability Company	 	 
	LuxUrban LLC	 	Delaware	 	Limited Liability Company	 	 
	S-Be Rentals, LLC	 	Delaware	 	Limited Liability Company	 	 
	Corphousing UK Limited	 	United Kingdom	 	Private Limited Company	 	 
	CorpHousing RSL LLC	 	Delaware	 	Limited Liability Company	 	 

 

    

     

    

 

ANNEX A

 

SUPPLEMENT TO THE AMENDED AND RESTATED

GUARANTY AND SECURITY AGREEMENT

 

SUPPLEMENT
NO. [    ] dated as of [            ], to the Amended
and Restated Guaranty and Security Agreement dated as of June 30, 2022 (the “Security Agreement”) by and among
CorpHousing Group Inc., a Delaware corporation (the “Company”), each of the subsidiaries of the Company listed on the
signature pages thereto or that becomes a party thereto pursuant to Section 16 of the Security Agreement (each such entity being
a “Subsidiary Grantor” and collectively, the “Subsidiary Grantors”; the Company and the Subsidiary
Grantors are referred to collectively as the “Grantors”), and Greenle Partners LLC Series Alpha P.S. (the
 “Lender”).

 

A.            Capitalized
terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Security Agreement.

 

B.            The
Grantors have entered into the Security Agreement in order to induce the Lender to make the Loans to the Company.

 

C.            Section 16
of the Security Agreement provides that each Subsidiary of the Company that is required to become a party to the Security Agreement shall
become a Subsidiary Grantor, with the same force and effect as if originally named as a Subsidiary Grantor therein, for all purposes of
the Security Agreement upon execution and delivery by such Subsidiary of an instrument in the form of this Supplement. Each undersigned
subsidiary (each a “New Grantor”) is executing this Supplement in accordance with the requirements of the Security
Agreement to become a Subsidiary Grantor under the Security Agreement in order to induce the Lender to make the Loans.

 

Accordingly, the Lender and
the New Grantors agree as follows:

 

SECTION 1. In accordance
with Section 16 of the Security Agreement, each New Grantor by its signature below becomes a Subsidiary Grantor under the Security
Agreement with the same force and effect as if originally named therein as a Subsidiary Grantor and each New Grantor hereby (a) agrees
to all the terms and provisions of the Security Agreement applicable to it as a Subsidiary Grantor thereunder and (b) represents
and warrants that the representations and warranties made by it as a Subsidiary Grantor thereunder are true and correct on and as of the
date hereof. In furtherance of the foregoing, each New Grantor, as security for the payment and performance in full of the Obligations,
does hereby bargain, sell, convey, assign, set over, mortgage, pledge, hypothecate and transfer to the Collateral Agent for the benefit
of the Lender, and hereby grants to the Lender, a Security Interest in all of the Collateral of such New Grantor, in each case whether
now or hereafter existing or in which it now has or hereafter acquires an interest. Each reference to a “Subsidiary Grantor”
in the Security Agreement shall be deemed to include each New Grantor. The Security Agreement is hereby incorporated herein by reference.

 

SECTION 2. Each New Grantor
represents and warrants to the Lender that this Supplement has been duly authorized, executed and delivered by it and constitutes its
legal, valid and binding obligation, enforceable against it in accordance with its terms, subject to the effects of bankruptcy, insolvency
or similar laws affecting creditors’ rights generally and general equitable principles.

 

SECTION 3. This Supplement
may be executed by one or more of the parties to this Supplement on any number of separate counterparts (including by facsimile or other
electronic transmission), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. A set
of the copies of this Supplement signed by all the parties shall be lodged with the Lender and the Company. This Supplement shall become
effective as to each New Grantor when the Lender shall have received counterparts of this Supplement that, when taken together, bear the
signatures of such New Grantor and the Lender.

 

    A-1

     

    

 

SECTION 4. Such New Grantor
hereby represents and warrants that (a) set forth on Schedule I hereto is (i) the legal name of such New Grantor, (ii) the
jurisdiction of incorporation or organization of such New Grantor, (iii) the identity or type of organization or corporate structure
of such New Grantor (iv) the Federal Taxpayer Identification Number and organizational number of such New Grantor and (v) the
true and correct location of the chief executive office and principal place of business and any office in which it maintains books of
records relating to Collateral owned by it.

 

SECTION 5. Except as
expressly supplemented hereby, the Security Agreement shall remain in full force and effect.

 

SECTION 6. This supplement
and the rights and obligations of the parties hereunder shall be governed by, and construed and interpreted in accordance with, the laws
of the state of Delaware.

 

SECTION 7. Any provision
of this Supplement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent
of such prohibition or unenforceability without invalidating the remaining provisions hereof and in the Security Agreement, and any such
prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.
The parties hereto shall endeavor in good faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions
the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

 

SECTION 8. All notices,
requests and demands pursuant hereto shall be made in accordance with the Security Agreement. All communications and notices hereunder
to each New Grantor shall be given to it in care of the Company at the Company’s address set forth in the Security Agreement.

 

IN WITNESS WHEREOF, each New
Grantor and the Lender have duly executed this Supplement to the Security Agreement as of the day and year first above written.

 

	 	 	[NAME OF NEW GRANTOR]
	 	 	 	 
	 	 	By:	
  
	 	 	 	Name:
	 	 	 	Title:
	 	 	 
	 	 	GREENLE PARTNERS LLC SERIES ALPHA P.S.
	 	 	 	 
	 	 	By:	
  
	 	 	 	Name:
	 	 	 	Title:

 

    A-2

     

    

 

SCHEDULE I

TO SUPPLEMENT NO.      TO
THE AMENDED AND RESTATED

GUARANTY AND SECURITY AGREEMENT

 

	Legal Name
 and Address
	 	Jurisdiction of
 Incorporation or
 Organization	 	Type of
 Organization or
 Corporate
 Structure	 	Federal  Taxpayer
 Identification
 Number and
 Organizational
 Identification
 Number

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