Document:

EXHIBIT 4.6

 

Form of Underwriter’s Warrant

 

THE REGISTERED HOLDER OF
THIS PURCHASE WARRANT BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE WARRANT.

 

THIS PURCHASE WARRANT IS
NOT EXERCISABLE PRIOR TO [________________] [DATE THAT IS 180 DAYS FROM THE EFFECTIVE DATE OF THE OFFERING]. VOID AFTER
5:00 P.M., EASTERN TIME, [___________________] [DATE THAT IS FIVE YEARS FROM THE EFFECTIVE DATE OF THE OFFERING].

 

COMMON SHARE PURCHASE WARRANT

 

For the Purchase of [_____] Common Shares

of

FRANKLY INC.

 

1.       Purchase
Warrant. THIS CERTIFIES THAT, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
[●](“Holder”), as registered owner of this Purchase Warrant, is entitled, at any time or from time to
time from [________________] [DATE THAT IS ONE HUNDRED EIGHTY (180) DAYS FROM THE EFFECTIVE DATE OF THE OFFERING] (the “Commencement
Date”), and at or before 5:00 p.m., Eastern time, [____________] [DATE THAT IS FIVE YEARS FROM THE EFFECTIVE DATE
OF THE OFFERING] (the ”Expiration Date”), but not thereafter, to subscribe for, purchase and receive, in
whole or in part, up to [____] (the “Shares”) common shares, without par value (the “Common Shares”),
of Frankly Inc., a British Columbia corporation (the “Company”), subject to adjustment as provided in Section
6 hereof. If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Warrant
may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. During the period ending
on the Expiration Date, the Company agrees not to take any action that would terminate this Purchase Warrant. This Purchase Warrant
is initially exercisable at US$[___] per Share [120% of the price of the Shares sold in the Offering]; provided,
however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase
Warrant, including the exercise price per Share and the number of Shares to be received upon such exercise, shall be adjusted as
therein specified. The term “Exercise Price” shall mean the initial exercise price or the adjusted exercise
price, depending on the context. As used herein, “Effective Date” means the date on which the Company’s
Registration Statement on Form S-1 (File No.: 333-214578) is initially declared effective by the Securities and Exchange Commission
(the “Commission”).

 

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2.       Exercise.

 

2.1       Exercise
Form. In order to exercise this Purchase Warrant, the exercise form attached hereto must be duly executed and completed and
delivered to the Company, together with this Purchase Warrant and payment of the Exercise Price for the Shares being purchased
payable in cash by wire transfer of immediately available funds to an account designated by the Company or by certified check or
official bank check. If the subscription rights represented hereby shall not be exercised at or before 5:00 p.m., Eastern time,
on the Expiration Date, this Purchase Warrant shall become and be void without further force or effect, and all rights represented
hereby shall cease and expire.

 

2.2       Cashless
Exercise. In lieu of exercising this Purchase Warrant by payment of cash or check payable to the order of the Company pursuant
to Section 2.1 above, Holder may elect to receive the number of Shares equal to the value of this Purchase Warrant (or the portion
thereof being exercised), by surrender of this Purchase Warrant to the Company, together with the exercise form attached hereto,
in which event the Company will issue to Holder Shares in accordance with the following formula:

 

					
	 		X	=	Y(A-B)
	 	 	 	 	     A
	 	 	 	 	 
		Where	 	 	 
	 	 	 	 	 
	 		X	=	The number of Shares to be issued to Holder;
	 		Y	=	The number of Shares for which the Purchase Warrant is being exercised;
	 		A	=	The fair market value of one Share; and
	 		B	=	The Exercise Price.

 

For purposes of this Section 2.2, the
fair market value of a Share is defined as follows:

 

		(i)	if the Common Shares are traded on a United States securities exchange, the value shall be deemed
to be the closing price on such exchange on the trading day prior to the exercise form being submitted in connection with the exercise
of the Purchase Warrant; or

 

		(ii)	if the Common Shares are actively traded over-the-counter in the United States, the value shall
be deemed to be the closing bid on the trading day prior to the exercise form being submitted in connection with the exercise of
the Purchase Warrant; if there is no active public market in the United States, the value shall be the fair market value thereof,
as determined in good faith by the Company’s Board of Directors.

 

3.       Transfer.

 

The registered Holder of this Purchase Warrant
agrees by his, her or its acceptance hereof, that such Holder will not sell, transfer, assign, pledge or hypothecate this Purchase
Warrant.

 

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4.       Registration
Rights.

 

4.1       Demand
Registration.

 

4.1.1       Grant
of Right. Unless a registration statement covering the exercise of this Warrant and the sale of the Shares by the Holder is
in effect and available, the Company, upon written demand (a “Demand Notice”) of the Holder(s) of at least 51%
of the Purchase Warrants and/or the underlying Shares (“Majority Holders”), agrees to register, on one occasion,
all or any portion of the Shares underlying the Purchase Warrants (collectively, the “Registrable Securities”).
On such occasion, the Company will file a registration statement with the Commission covering the Registrable Securities within
sixty (60) days after receipt of a Demand Notice and use its reasonable best efforts to have the registration statement declared
effective promptly thereafter, subject to compliance with review by the Commission; provided, however, that the Company
shall not be required to comply with a Demand Notice if the Company has filed a registration statement with respect to which the
Holder is entitled to piggyback registration rights pursuant to Section 4.2 hereof and either: (i) the Holder has elected to participate
in the offering covered by such registration statement or (ii) if such registration statement relates to an underwritten primary
offering of securities of the Company, until the offering covered by such registration statement has been withdrawn or until thirty
(30) days after such offering is consummated. The demand for registration may be made at any time during a period of four (4) years
beginning on the Commencement Date. The Company covenants and agrees to give written notice of its receipt of any Demand Notice
by any Holder(s) to all other registered Holders of the Purchase Warrants and/or the Registrable Securities within ten (10) days
after the date of the receipt of any such Demand Notice.

 

4.1.2        Terms.
The Company shall bear all fees and expenses attendant to the registration of the Registrable Securities pursuant to Section 4.1.1,
but the Holders shall pay any and all underwriting commissions and the expenses of any legal counsel selected by the Holders to
represent them in connection with the sale of the Registrable Securities. The Company agrees to use its reasonable best efforts
to cause the filing required herein to become effective promptly and to qualify or register the Registrable Securities in such
States as are reasonably requested by the Holder(s); provided, however, that in no event shall the Company be required
to register the Registrable Securities in a State in which such registration would cause: (i) the Company to be obligated to register
or license to do business in such State or submit to general service of process in such State, or (ii) the principal shareholders
of the Company to be obligated to escrow their shares of capital stock of the Company. The Company shall cause any registration
statement filed pursuant to the demand right granted under Section 4.1.1 to remain effective for a period of at least twelve (12)
consecutive months after the date that the Holders of the Registrable Securities covered by such registration statement are first
given the opportunity to sell all of such securities. The Holders shall only use the prospectuses provided by the Company to sell
the shares covered by such registration statement, and will immediately cease to use any prospectus furnished by the Company if
the Company advises the Holder that such prospectus may no longer be used due to a material misstatement or omission. Notwithstanding
the provisions of this Section 4.1.2, the Holder shall be entitled to a demand registration under this Section 4.1.2 on only one
(1) occasion and such demand registration right shall terminate on the fifth anniversary of the effectiveness of the registration
statement in accordance with FINRA Rule 5110(f)(2)(G)(iv).

 

4.2       “Piggy-Back”
Registration.

 

4.2.1       Grant
of Right. In addition to the demand right of registration described in Section 4.1 hereof, unless a registration statement
covering the exercise of this Warrant and the sale of the Shares by the Holder is in effect and available, the Holder shall have
the right, for a period of no more than seven (7) years from the date of effectiveness of the registration statement in accordance
with FINRA Rule 5110(f)(2)(G)(v), to include the Registrable Securities as part of any other registration of securities filed by
the Company (other than in connection with a transaction contemplated by Rule 145(a) promulgated under the Securities Act of 1933,
as amended (the “Securities Act”), or pursuant to Form S-8 or any equivalent form); provided, however,
that if, solely in connection with any primary underwritten public offering for the account of the Company, the managing underwriter(s)
thereof shall, in its reasonable discretion, impose a limitation on the number of Common Shares which may be included in the Registration
Statement because, in such underwriter(s)’ judgment, marketing or other factors dictate such limitation is necessary to facilitate
public distribution, then the Company shall be obligated to include in such Registration Statement only such limited portion of
the Registrable Securities with respect to which the Holder requested inclusion hereunder as the underwriter shall reasonably permit.
Any exclusion of Registrable Securities shall be made pro rata among the Holders seeking to include Registrable Securities in proportion
to the number of Registrable Securities sought to be included by such Holders; provided, however, that the Company
shall not exclude any Registrable Securities unless the Company has first excluded all outstanding securities, the holders of which
are not entitled to inclusion of such securities in such Registration Statement or are not entitled to pro rata inclusion with
the Registrable Securities.

 

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4.2.2        Terms.
The Company shall bear all fees and expenses attendant to registering the Registrable Securities pursuant to Section 4.2.1 hereof,
but the Holders shall pay any and all underwriting commissions and the expenses of any legal counsel selected by the Holders to
represent them in connection with the sale of the Registrable Securities. In the event of such a proposed registration, the Company
shall furnish the then Holders of outstanding Registrable Securities with not less than thirty (30) days written notice prior to
the proposed date of filing of such registration statement. Such notice to the Holders shall continue to be given for each registration
statement filed by the Company until such time as all of the Registrable Securities have been sold by the Holder. The holders of
the Registrable Securities shall exercise the “piggy-back” rights provided for herein by giving written notice within
ten (10) days of the receipt of the Company’s notice of its intention to file a registration statement. Except as otherwise
provided in this Purchase Warrant, there shall be no limit on the number of times the Holder may request registration under this
Section 4.2.2; provided, however, that such registration rights shall terminate on the sixth anniversary of the Commencement
Date.

 

4.3       General
Terms.

 

4.3.1       Indemnification.
The Company shall indemnify the Holder(s) of the Registrable Securities to be sold pursuant to any registration statement hereunder
and each person, if any, who controls such Holders within the meaning of Section 15 of the Securities Act or Section 20 (a) of
the Securities Exchange Act of 1934, as amended (“Exchange Act”), against all loss, claim, damage, expense or
liability (including all reasonable attorneys’ fees and other expenses reasonably incurred in investigating, preparing or
defending against any claim whatsoever) to which any of them may become subject under the Securities Act, the Exchange Act or otherwise,
arising from such registration statement but only to the same extent and with the same effect as the provisions pursuant to which
the Company has agreed to indemnify the Underwriters contained in Section 7(a) of the Underwriting Agreement between Roth Capital
Partners, LLC, as the representative of the several Underwriters named therein, and the Company, dated as of February [●],
2017 (the “Underwriting Agreement”). The Holder(s) of the Registrable Securities to be sold pursuant to such
registration statement, and their successors and assigns, shall severally, and not jointly, indemnify the Company, against all
loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses reasonably incurred
in investigating, preparing or defending against any claim whatsoever) to which they may become subject under the Securities Act,
the Exchange Act or otherwise, arising from information furnished by or on behalf of such Holders, or their successors or assigns,
in writing, for specific inclusion in such registration statement to the same extent and with the same effect as the provisions
contained in Section 7(b) of the Underwriting Agreement pursuant to which the Underwriters have agreed to indemnify the Company.

 

4.3.2        Exercise
of Purchase Warrants. Nothing contained in this Purchase Warrant shall be construed as requiring the Holder(s) to exercise
their Purchase Warrants prior to or after the initial filing of any registration statement or the effectiveness thereof.

 

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4.3.3        Documents
Delivered to Holders. Unless a registration statement covering the exercise of this Warrant and the sale of the Shares by
the Holder is in effect and available, the Company shall furnish to each Holder participating in any of the foregoing offerings
and to each underwriter of any such offering, if any, a signed counterpart, addressed to such Holder or underwriter, of: (i) if
such registration includes an underwritten public offering, an opinion of counsel to the Company, dated the date of the
closing under any underwriting agreement related thereto, and (ii) if such registration includes an underwritten public offering,
a “cold comfort” letter dated the effective date of such registration statement and a letter dated the date of the
closing under the underwriting agreement, signed by the independent registered public accounting firm which has issued a report
on the Company’s financial statements included in such registration statement, in each case covering substantially the same
matters with respect to such registration statement (and the prospectus included therein) and, in the case of such accountants’
letter, with respect to events subsequent to the date of such financial statements, as are customarily covered in opinions of
issuer’s counsel and in accountants’ letters delivered to underwriters in underwritten public offerings of securities.
The Company shall also deliver promptly to each Holder participating in the offering requesting the correspondence and memoranda
described below and to the managing underwriter, if any, copies of all correspondence between the Commission and the Company,
its counsel or auditors and all memoranda relating to discussions with the Commission or its staff with respect to the registration
statement and permit each Holder and underwriter to do such investigation, upon reasonable advance notice, with respect to information
contained in or omitted from the registration statement as it deems reasonably necessary to comply with applicable securities
laws or rules of FINRA. Such investigation shall include access to books, records and properties and opportunities to discuss
the business of the Company with its officers and independent auditors, all to such reasonable extent and at such reasonable times
as any such Holder shall reasonably request in connection with the underwritten offering.

 

4.3.4        Underwriting
Agreement. Unless a registration statement covering the exercise of this Warrant and the sale of the Shares by the Holder is
in effect and available, the Company shall enter into an underwriting agreement with the managing underwriter(s), if any, selected
by any Holders whose Registrable Securities are being registered pursuant to this Section 4, which managing underwriter shall be
reasonably satisfactory to the Company. Such agreement shall be reasonably satisfactory in form and substance to the Company, each
Holder and such managing underwriters, and shall contain such representations, warranties and covenants by the Company and such
other terms as are customarily contained in agreements of that type used by the managing underwriter. The Holders shall be parties
to any underwriting agreement relating to an underwritten sale of their Registrable Securities and may, at their option, require
that any or all the representations, warranties and covenants of the Company to or for the benefit of such underwriters shall also
be made to and for the benefit of such Holders. Such Holders shall not be required to make any representations or warranties to
or agreements with the Company or the underwriters except as they may relate to such Holders, their Shares and their intended methods
of distribution.

 

4.3.5        Documents
to be Delivered by Holder(s). Each of the Holder(s) participating in any of the foregoing offerings shall furnish to the Company
a completed and executed questionnaire provided by the Company requesting information customarily sought of selling security holders.

 

4.3.6        Damages.
Should the registration or the effectiveness thereof required by Sections 4.1 and 4.2 hereof be delayed by the Company or the Company
otherwise fails to comply with such provisions, the Holder(s) shall, in addition to any other legal or other relief available to
the Holder(s), be entitled to obtain specific performance or other equitable (including injunctive) relief against the threatened
breach of such provisions or the continuation of any such breach, without the necessity of proving actual damages and without the
necessity of posting bond or other security.

 

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5.       New
Purchase Warrants to be Issued.

 

5.1       Partial
Exercise. Subject to the restrictions in Section 3 hereof, this Purchase Warrant may be exercised in whole or in part. In the
event of the exercise hereof in part only, upon surrender of this Purchase Warrant for cancellation, the Company shall cause to
be delivered to the Holder without charge a new Purchase Warrant of like tenor to this Purchase Warrant in the name of the Holder
evidencing the right of the Holder to purchase the number of Shares purchasable hereunder as to which this Purchase Warrant has
not been exercised.

 

5.2        Lost
Certificate. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this
Purchase Warrant and of reasonably satisfactory indemnification or the posting of a bond, the Company shall execute and deliver
a new Purchase Warrant of like tenor and date. Any such new Purchase Warrant executed and delivered as a result of such loss, theft,
mutilation or destruction shall constitute a substitute contractual obligation on the part of the Company.

 

6.       Adjustments.

 

6.1       Adjustments
to Exercise Price and Number of Securities. The Exercise Price and the number of Shares underlying the Purchase Warrant shall
be subject to adjustment from time to time as hereinafter set forth:

 

6.1.1       Share
Dividends; Split Ups. If, after the date hereof, and subject to the provisions of Section 6.3 below, the number of outstanding
Shares is increased by a stock dividend payable in Shares or by a split up of Shares or other similar event, then, on the effective
day thereof, the number of Shares purchasable hereunder shall be increased in proportion to such increase in outstanding Shares,
and the Exercise Price shall be proportionately decreased.

 

6.1.2        Aggregation
of Shares. If, after the date hereof, and subject to the provisions of Section 6.3 below, the number of outstanding Shares
is decreased by a consolidation, combination or reclassification of Shares or other similar event, then, on the effective date
thereof, the number of Shares purchasable hereunder shall be decreased in proportion to such decrease in outstanding Shares, and
the Exercise Price shall be proportionately increased.

 

6.1.3        Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Shares other than
a change covered by Section 6.1.1 or 6.1.2 hereof or that solely affects the par value of such Shares, or in the case of any share
reconstruction or amalgamation or consolidation of the Company with or into another corporation (other than a consolidation or
share reconstruction or amalgamation in which the Company is the continuing corporation and that does not result in any reclassification
or reorganization of the outstanding Shares), or in the case of any sale or conveyance to another corporation or entity of the
property of the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the Holder
of this Purchase Warrant shall have the right thereafter (until the expiration of the right of exercise of this Purchase Warrant)
to receive upon the exercise hereof, for the same aggregate Exercise Price payable hereunder immediately prior to such event, the
kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization,
share reconstruction or amalgamation, or consolidation, or upon a dissolution following any such sale or transfer, by a Holder
of the number of Shares of the Company obtainable upon exercise of this Purchase Warrant immediately prior to such event; and if
any reclassification also results in a change in Shares covered by Section 6.1.1 or 6.1.2, then such adjustment shall be made pursuant
to Sections 6.1.1, 6.1.2 and this Section 6.1.3. The provisions of this Section 6.1.3 shall similarly apply to successive reclassifications,
reorganizations, share reconstructions or amalgamations, or consolidations, sales or other transfers.

 

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6.1.4        Changes
in Form of Purchase Warrant. This form of Purchase Warrant need not be changed because of any change pursuant to this Section
6.1, and Purchase Warrants issued after such change may state the same Exercise Price and the same number of Shares as are stated
in the Purchase Warrants initially issued pursuant to this Agreement. The acceptance by any Holder of the issuance of new Purchase
Warrants reflecting a required or permissive change shall not be deemed to waive any rights to an adjustment occurring after the
Commencement Date or the computation thereof.

 

6.2        Substitute
Purchase Warrant. In case of any consolidation of the Company with, or share reconstruction or amalgamation of the Company
with or into, another corporation (other than a consolidation or share reconstruction or amalgamation which does not result in
any reclassification or change of the outstanding Shares), the corporation formed by such consolidation or share reconstruction
or amalgamation shall execute and deliver to the Holder a supplemental Purchase Warrant providing that the holder of each Purchase
Warrant then outstanding or to be outstanding shall have the right thereafter (until the stated expiration of such Purchase Warrant)
to receive, upon exercise of such Purchase Warrant, the kind and amount of shares of stock and other securities and property receivable
upon such consolidation or share reconstruction or amalgamation, by a holder of the number of Shares of the Company for which such
Purchase Warrant might have been exercised immediately prior to such consolidation, share reconstruction or amalgamation, sale
or transfer. Such supplemental Purchase Warrant shall provide for adjustments which shall be identical to the adjustments provided
for in this Section 6. The above provision of this Section shall similarly apply to successive consolidations or share reconstructions
or amalgamations.

 

6.3        Elimination
of Fractional Interests. The Company shall not be required to issue certificates representing fractions of Shares upon the
exercise of the Purchase Warrant, nor shall it be required to issue scrip or pay cash in lieu of any fractional interests, it being
the intent of the parties that all fractional interests shall be eliminated by rounding any fraction up or down, as the case may
be, to the nearest whole number of Shares or other securities, properties or rights.

 

7.        Reservation
and Listing. The Company shall at all times reserve and keep available out of its authorized Shares, solely for the purpose
of issuance upon exercise of the Purchase Warrants, such number of Shares or other securities, properties or rights as shall be
issuable upon the exercise thereof. The Company covenants and agrees that, upon exercise of the Purchase Warrants and payment of
the Exercise Price therefor, in accordance with the terms hereby, all Shares and other securities issuable upon such exercise shall
be duly and validly issued, fully paid and non-assessable and not subject to preemptive rights of any shareholder. The Company
further covenants and agrees that upon exercise of the Purchase Warrants and payment of the exercise price therefor, all Shares
and other securities issuable upon such exercise shall be duly and validly issued, fully paid and non-assessable and not subject
to preemptive rights of any shareholder. As long as the Purchase Warrants shall be outstanding, the Company shall use its commercially
reasonable efforts to cause all Shares issuable upon exercise of the Purchase Warrants to be listed (subject to official notice
of issuance) on all national securities exchanges (or, if applicable, on the OTC Markets or any successor trading market) on which
the Shares issued to the public in the Offering may then be listed and/or quoted.

 

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8.       Certain
Notice Requirements.

 

8.1       Holder’s
Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holders the right to vote or consent or to
receive notice as a shareholder for the election of directors or any other matter, or as having any rights whatsoever as a shareholder
of the Company. If, however, at any time prior to the expiration of the Purchase Warrants and their exercise, any of the events
described in Section 8.2 shall occur, then, in one or more of said events, the Company shall give written notice of such event
at least fifteen days prior to the date fixed as a record date or the date of closing the transfer books for the determination
of the shareholders entitled to such dividend, distribution, conversion or exchange of securities or subscription rights, or entitled
to vote on such proposed dissolution, liquidation, winding up or sale. Such notice shall specify such record date or the date of
the closing of the transfer books, as the case may be. Notwithstanding the foregoing, the Company shall deliver to each Holder
a copy of each notice given to the other shareholders of the Company at the same time and in the same manner that such notice is
given to the shareholders.

 

8.2        Events
Requiring Notice. The Company shall be required to give the notice described in this Section 8 upon one or more of the following
events: (i) if the Company shall take a record of the holders of its Shares for the purpose of entitling them to receive a dividend
or distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out of retained earnings,
as indicated by the accounting treatment of such dividend or distribution on the books of the Company, (ii) the Company shall offer
to all the holders of its Shares any additional shares of capital stock of the Company or securities convertible into or exchangeable
for shares of capital stock of the Company, or any option, right or warrant to subscribe therefor, or (iii) a dissolution, liquidation
or winding up of the Company (other than in connection with a consolidation or share reconstruction or amalgamation) or a sale
of all or substantially all of its property, assets and business shall be proposed. Failure to give such notice shall not invalidate
any such action.

 

8.3        Notice
of Change in Exercise Price. The Company shall, promptly after an event requiring a change in the Exercise Price pursuant to
Section 6 hereof, send notice to the Holders of such event and change (“Price Notice”). The Price Notice shall
describe the event causing the change and the method of calculating same and shall be certified as being true and accurate by the
Company’s Chief Financial Officer.

 

8.4        Transmittal
of Notices. All notices, requests, consents and other communications under this Purchase Warrant shall be in writing and shall
be deemed to have been duly made when hand delivered, or mailed by express mail or private courier service: (i) if to the registered
Holder of the Purchase Warrant, to the address of such Holder as shown on the books of the Company, or (ii) if to the Company,
to following address or to such other address as the Company may designate by notice to the Holders:

 

If to the Holder:

 

[name]

[address]

Attn: [name]

Fax No.: [number]

 

If to the Company:

 

Frankly Inc.

333 Bryant Street, Suite 240

San Francisco, CA 94107

Attn: [name]

Fax No: [number]

 

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9.       Miscellaneous.

 

9.1       Amendments.
The Company and Roth may from time to time supplement or amend this Purchase Warrant without the approval of any of the Holders
in order to cure any ambiguity, to correct or supplement any provision contained herein that may be defective or inconsistent with
any other provisions herein, or to make any other provisions in regard to matters or questions arising hereunder that the Company
and Roth may deem necessary or desirable and that the Company and Roth deem shall not adversely affect the interest of the Holders.
All other modifications or amendments shall require the written consent of and be signed by the party against whom enforcement
of the modification or amendment is sought.

 

9.2        Headings.
The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the
meaning or interpretation of any of the terms or provisions of this Purchase Warrant.

 

9.3.        Entire
Agreement. This Purchase Warrant (together with the other agreements and documents being delivered pursuant to or in connection
with this Purchase Warrant) constitutes the entire agreement of the parties hereto with respect to the subject matter hereof, and
supersedes all prior agreements and understandings of the parties, oral and written, with respect to the subject matter hereof.

 

9.4        Binding
Effect. This Purchase Warrant shall inure solely to the benefit of and shall be binding upon, the Holder and the Company and
their respective successors and legal representatives, and no other person shall have or be construed to have any legal or equitable
right, remedy or claim under or in respect of or by virtue of this Purchase Warrant or any provisions herein contained.

 

9.5        Governing
Law; Submission to Jurisdiction; Trial by Jury. This Purchase Warrant shall be governed by and construed and enforced in accordance
with the laws of the State of New York, without giving effect to conflict of laws principles thereof. The Company hereby agrees
that any action, proceeding or claim against it arising out of, or relating in any way to this Purchase Warrant shall be brought
and enforced in the New York Supreme Court, County of New York, or in the United States District Court for the Southern District
of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any
objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. The Company irrevocably appoints
[●], [address, phone and fax number], as its agent to receive service of process or other legal summons for purposes of any
such proceeding that may be instituted in any court in the United States of America. The Company and the Holder agree that the
prevailing party(ies) in any such action shall be entitled to recover from the other party(ies) all of its reasonable attorneys’
fees and expenses relating to such action or proceeding and/or incurred in connection with the preparation therefor. The Company
(on its behalf and, to the extent permitted by applicable law, on behalf of its stockholders and affiliates) and the Holder hereby
irrevocably waive, 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 Agreement or the transactions contemplated hereby.

 

9.6        Waiver,
etc. The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase Warrant shall not
be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Purchase Warrant or
any provision hereof or the right of the Company or any Holder to thereafter enforce each and every provision of this Purchase
Warrant. No waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this Purchase Warrant shall be
effective unless set forth in a written instrument executed by the party or parties against whom or which enforcement of such waiver
is sought; and no waiver of any such breach, non-compliance or non-fulfillment shall be construed or deemed to be a waiver of any
other or subsequent breach, non-compliance or non-fulfillment.

 

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9.7        Execution
in Counterparts. This Purchase Warrant may be executed in one or more counterparts, and by the different parties hereto in
separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and
the same agreement, and shall become effective when one or more counterparts has been signed by each of the parties hereto and
delivered to each of the other parties hereto. Such counterparts may be delivered by facsimile transmission or other electronic
transmission.

 

9.8        Exchange
Agreement. As a condition of the Holder’s receipt and acceptance of this Purchase Warrant, Holder agrees that, at any
time prior to the complete exercise of this Purchase Warrant by Holder, if the Company and Roth enter into an agreement (“Exchange
Agreement”) pursuant to which they agree that all outstanding Purchase Warrants will be exchanged for securities or cash
or a combination of both, then Holder shall agree to such exchange and become a party to the Exchange Agreement.

 

[Signature Page Follows]

 

    	 	 10	 

     

    

 

IN WITNESS WHEREOF, the Company has caused this
Purchase Warrant to be signed by its duly authorized officer as of the ____ day of February, 2017.

 

	FRANKLY INC.	 
	 	 	 
	By:	 	 
	Name: 	 	 
	Title: 	 	 

 

    	 	 11	 

     

    

 

[Form to be used to exercise Purchase Warrant]

 

Date: __________, 20___

 

The undersigned
hereby elects irrevocably to exercise the Purchase Warrant for ______ Common Shares (the “Shares”) of Frankly
Inc., a British Columbia corporation (the “Company”), and hereby makes payment of US$____ (at the rate of US$____
per Share) in payment of the Exercise Price pursuant thereto. Please issue the Shares as to which this Purchase Warrant is exercised
in accordance with the instructions given below and, if applicable, a new Purchase Warrant representing the number of Shares for
which this Purchase Warrant has not been exercised.

 

or

 

The undersigned
hereby elects irrevocably to convert its right to purchase ___ Shares of the Company under the Purchase Warrant for ______ Shares,
as determined in accordance with the following formula:

 

	 	 			Y(A-B)
	 	 	X	=	     A
	 	 	 	 	 
	 	Where,	 	 	 
	 	 	 	 	 
	 	 	X	=	The number of Shares to be issued to Holder;
	 	 	Y	=	The number of Shares for which the Purchase Warrant is being exercised;
	 	 	A	=	The fair market value of one Share which is equal to US$_____; and
	 	 	B	=	The Exercise Price which is equal to US$______ per share

 

The undersigned agrees
and acknowledges that the calculation set forth above is subject to confirmation by the Company and any disagreement with respect
to the calculation shall be resolved by the Company in its sole discretion.

 

Please issue the Shares
as to which this Purchase Warrant is exercised in accordance with the instructions given below and, if applicable, a new Purchase
Warrant representing the number of Shares for which this Purchase Warrant has not been converted.

 

	 	Signature 		 
	 	 	 	 

	INSTRUCTIONS FOR REGISTRATION OF SECURITIES	 
	 	 	 
	Name: 	 	 
	 	(Print in Block Letters)	 
	 	 	 
	Address:	 	 
	 	 	 
	 	 	 

 

    	 	 12Exhibit
10.7

 

GUARANTY
AGREEMENT

 

THIS
GUARANTY AGREEMENT (“this Agreement”) dated August 31, 2016, is executed by FRANKLY CO., a Delaware corporation
(the “Guarantor”), in favor of RAYCOM MEDIA, INC., a Delaware corporation (the “Lender”).  

 

Recitals

 

A.       Pursuant
to that certain Credit Agreement dated August 31, 2016 between Frankly Inc., a British Columbia corporation (the “Borrower”)
and the Lender (the “Credit Agreement”), the Lender has agreed to make certain loan facilities available to the Borrower
(the “Loans”).

 

B.       The
Guarantor is a direct subsidiary of the Borrower and will benefit directly and indirectly from the Loans to the Borrower.

 

C.       It
is a condition (among others) to Lender’s advancing a portion of the Loans to the Borrower that the Guarantor shall execute
and deliver this Agreement.

 

D.       In
consideration of the benefits to be derived by the Guarantor from the Loans, and to induce the Lender to advance funds under the
Loans to the Borrower, without which inducement the Lender would be unwilling to advance funds under the Loans, the Guarantor
has agreed to guarantee unconditionally the payment of the Borrower’s Obligations, pursuant to the terms and conditions
of this Agreement.

 

Agreement

 

NOW,
THEREFORE, in consideration of the foregoing Recitals, and to induce the Lender to make the Loans to the Borrower under the
Loan Documents, the Guarantor covenants and agrees with the Lender as follows:

 

SECTION
1Rules of Construction.

 

This
Agreement is subject to the rules of construction set forth in the Credit Agreement.

 

SECTION
2Definitions.

 

As
used in this Agreement, capitalized terms not otherwise defined herein have the meanings defined for them in said Credit Agreement.

 

SECTION
3Guaranty of Borrower’s Obligations.

 

The
Guarantor hereby guarantees to the Lender the due and punctual payment of the Borrower’s Obligations, when and as the same
shall become due and payable (whether by acceleration or otherwise).

 

SECTION
4Nature of Guaranty.

 

(a)       The
guaranty provided for in this Agreement is an absolute, unconditional, irrevocable and present guaranty of payment and not of
collectibility and is in no way conditioned upon or limited by: (1) any attempt to collect from the Borrower; or (2) the exercise
of any other rights, powers or remedies the Lender may have against any Obligor; or (3) any resort to any other Property; or (4)
whether any of the Borrower’s Obligations are enforceable against the Borrower (including whether any interest and charges
accruing after the filing of a petition in bankruptcy may be enforceable); or (5) any other action, occurrence or circumstance
whatsoever.

 

    	 	 	 

     

    

 

(b)       If
the Borrower shall fail to pay any of the Borrower’s Obligations, when and as the same shall become due and payable, the
Guarantor shall on demand forthwith pay such Borrower’s Obligations, in lawful money of the United States immediately available
in Montgomery, Alabama, directly to the Lender at its address specified in or pursuant to Section 13.

 

SECTION
5Loan Documents.

 

The
Guarantor shall be bound by all the provisions (including any provisions waiving notice and agreeing to pay costs and expenses
of collection in the event of default) appearing on the face of any of the Loan Documents just as though the Guarantor had signed
them.

 

SECTION
6Nature of Borrower’s Obligations.

 

The
obligations and liabilities of the Guarantor under this Agreement are primary obligations of the Guarantor, are absolute, unconditional
and irrevocable, shall not be subject to any counterclaim, recoupment, set-off, reduction or defense based on any claim that the
Guarantor may have against the Lender, any Obligor or any of their respective affiliates, and shall remain in full force and effect
until terminated in accordance with Section 16 (subject to reinstatement as provided in Section 17), without regard to, and without
being released, discharged, impaired, modified or in any way affected by, the occurrence from time to time of any event, circumstance
or condition, including any one or more of the following, whether or not with notice to, or the consent of, the Guarantor: (a)
the invalidity or unenforceability, in whole or in part, of any of the Loan Documents; (b) any failure or refusal to give notice
to the Guarantor of the occurrence of any event of default under any of the Loan Documents; (c) any modification, amendment or
supplement (whether material or otherwise) of any obligation, covenant or agreement contained in any of the Loan Documents, or
of the terms of payment of any of the Borrower’s Obligations or the interest rate applicable thereto; (d) any assignment
or transfer (whether voluntarily or by operation of law) of the Loans or of any of the Loan Documents or of any interest therein
or thereunder; (e) any compromise, settlement, release or termination of any of the obligations or agreements of any Obligor under
any of the Loan Documents; (f) any waiver of the payment, performance or observance of any Obligor’s obligations or agreements
under any of the Loan Documents; (g) any consent, extension, indulgence or other action or inaction (including any lack of diligence
or failure to mitigate damages) with respect to any of the Loan Documents, or any exercise or non-exercise of any right, power,
remedy or privilege with respect to any of the Loan Documents; (h) any failure or omission to exercise any right, power, privilege
or remedy under any of the Loan Documents; (i) any extension of time for payment or performance of any of the Borrower’s
Obligations or any other obligations or agreements under any of the Loan Documents; (j) any furnishing or accepting of additional
Property, or any release, modification, substitution, nonexistence, invalidity or lack of value of any Property; (k) the death
of, voluntary or involuntary liquidation, reorganization or dissolution of, sale or other disposition of all or substantially
all the assets of, or the marshalling of assets and liabilities, receivership, insolvency, bankruptcy, assignment for the benefit
of creditors, merger, consolidation, other reorganization, arrangement, composition or readjustment of, or other similar proceeding
affecting, any Obligor or any of such Obligor’s assets, or any action taken by any trustee, receiver, custodian or other
officer with similar powers (collectively, a “custodian”) or by any court in any such proceeding, or the disaffirmance,
rejection or postponement in any such proceeding of any Obligor’s obligations under any of the Loan Documents; (l) any failure
of the Lender, upon the occurrence of any of the events specified in Section 6(k), to file a claim or proof of claim or otherwise
pursue any of its remedies in any proceeding resulting from such event; (m) any release or discharge (by act or omission of the
Lender, operation of law or otherwise) of any Obligor from the performance or observance of any obligation, agreement or condition
to be performed by such Obligor under any of the Loan Documents; (n) any limitation on or exculpation from the liabilities or
obligations of any Obligor under any of the Loan Documents (whether pursuant to the terms of any of the Loan Documents or otherwise),
any termination, cancellation, invalidity or unenforceability, in whole or in part, of any of the Loan Documents or any limitation
that may now or hereafter exist with respect to any of the Loan Documents; (o) any failure on the part of any Obligor fully to
perform or to comply with any provision of any of the Loan Documents; (p) any claim of the Guarantor against any Obligor; (q)
any understanding or agreement that any other person was or is to execute this Agreement, any similar agreement or any of the
Loan Documents or otherwise become liable, in whole or in part, for any of the Borrower’s Obligations; (r) any understanding
or agreement that any other person was or is to grant any Property, in whole or in part, for any of the Borrower’s Obligations;
(s) any defense or counterclaim that the Borrower may assert with respect to any of the Borrower’s Obligations, including
failure of consideration, breach of warranty, fraud, statute of frauds, bankruptcy, infancy, statute of limitations, lender liability,
accord and satisfaction, and usury; or (t) any other circumstance, occurrence or condition, whether similar or dissimilar to any
of the foregoing, that might be raised in avoidance of, or in defense against an action to enforce, the obligations of the Guarantor
under this Agreement, other than the defense of discharge by payment in full.

 

    	 	 	 

     

    

 

SECTION
7Waivers by Guarantor.

 

The
Guarantor, insofar as the Guarantor’s obligations under this Agreement are concerned:

 

(a)       unconditionally
waives: (1) notice of the execution and delivery of the Loan Documents; (2) notice of the Lender’s acceptance of and reliance
on this Agreement or of the extension by the Lender to or for the account of the Borrower of any loans, forbearances, advances,
disbursements or other extensions of credit included in the Borrower’s Obligations (including the Loans), or the payment
by any Obligor of any sums with respect to any of the Borrower’s Obligations; (3) notice of any of the matters referred
to in Section 6; (4) all notices required by statute, rule of law or otherwise to preserve any rights against the Guarantor hereunder,
including any demand, proof or notice of non-payment of any of the Borrower’s Obligations by any Obligor and notice of any
failure on the part of any Obligor to perform or comply with any provision of any of the Loan Documents; (5) any right to the
enforcement, assertion or exercise of any right, power or remedy under or with respect to any of the Loan Documents; and (6) any
requirement that any Obligor be joined as a party to any proceeding for the enforcement of any provision of the Loan Documents,
any requirement of diligence on the part of the Lender and any requirement on the part of the Lender to mitigate any damages resulting
from any non-payment of any of the Borrower’s Obligations or any default or event of default under any of the Loan Documents;
and

 

(b)       agrees
that the Guarantor will not assert or attempt to enforce any right that the Guarantor may now or hereafter have, whether at law,
in equity or otherwise (including any right of indemnity, contribution, reimbursement, marshalling or subrogation), to recover
from the Borrower, or from any other person that may now or hereafter have such a right to recover from the Borrower, any amounts
paid by the Guarantor, to satisfy, in whole or in part, the Borrower’s Obligations, and the Guarantor hereby waives and
relinquishes any such right until the Borrower’s Obligations have been paid in full. This Section 7(b) is for the benefit
of the Borrower as well as the Lender and may be enforced by the Borrower.

 

    	 	 	 

     

    

 

SECTION
8Enforcement Expenses.

 

The
Guarantor shall indemnify and hold harmless the Lender against any loss, liability or expense, including reasonable attorneys’
fees and disbursements and any other fees and disbursements, that may result from any failure of the Guarantor to pay any of the
Borrower’s Obligations when and as due and payable hereunder or that may be incurred by or on behalf of the Lender in enforcing
any obligation of the Guarantor hereunder.

 

SECTION
9Delay and Waiver by Lender.

 

No
delay in the exercise of, or failure to exercise, any right, power or remedy accruing upon any default or failure of the Guarantor
in the performance of any obligation under this Agreement shall impair any such right, power or remedy or shall be construed to
be a waiver thereof, but any such right, power or remedy may be exercised from time to time and as often as the Lender deems expedient.
In order to entitle the Lender to exercise any right, power or remedy reserved to it in this Agreement, it shall not be necessary
to give any notice to the Guarantor. If the Guarantor defaults in the performance of any obligation hereunder, and such default
is thereafter waived by the Lender, such waiver shall be limited to the particular default so waived. No waiver, amendment, release
or modification of this Agreement shall be established by conduct, custom or course of dealing, but solely by an instrument in
writing executed by a duly authorized officer of the Lender.

 

SECTION
10Submission to Jurisdiction.

 

The
Guarantor irrevocably (a) acknowledges that this Agreement will be accepted by the Lender and performed by the Guarantor in the
State of Alabama; (b) submits to the jurisdiction of each state or federal court sitting in Montgomery County, Alabama (collectively,
the “Courts”) over any suit, action or proceeding arising out of or relating to this Agreement or any of the other Loan
Documents to which the Guarantor is now or hereafter a party (individually, an “Agreement Action”); (c) waives, to the
fullest extent permitted by law, any objection or defense that the Guarantor may now or hereafter have based on improper venue,
lack of personal jurisdiction, inconvenience of forum or any similar matter in any Agreement Action brought in any of the Courts;
(d) agrees that final judgment in any Agreement Action brought in any of the Courts shall be conclusive and binding upon the Guarantor
and may be enforced in any other court to the jurisdiction of which the Guarantor is subject, by a suit upon such judgment; (e)
consents to the service of process on the Guarantor in any Agreement Action by the mailing of a copy thereof by registered or
certified mail, postage prepaid, to the Guarantor at the Guarantor’s address designated in or pursuant to Section 13; (f)
agrees that service in accordance with Section 10(e) shall in every respect be effective and binding on the Guarantor to the same
extent as though served on the Guarantor in person by a person duly authorized to serve such process; and (g) AGREES THAT THE
PROVISIONS OF THIS SECTION, EVEN IF FOUND NOT TO BE STRICTLY ENFORCEABLE BY ANY COURT, SHALL CONSTITUTE “FAIR WARNING”
TO THE GUARANTOR THAT THE EXECUTION OF THIS AGREEMENT MAY SUBJECT THE GUARANTOR TO THE JURISDICTION OF EACH STATE OR FEDERAL COURT
SITTING IN MONTGOMERY COUNTY, ALABAMA WITH RESPECT TO ANY AGREEMENT ACTIONS, AND THAT IT IS FORESEEABLE BY THE GUARANTOR THAT
THE GUARANTOR MAY BE SUBJECTED TO THE JURISDICTION OF SUCH COURTS AND MAY BE SUED IN THE STATE OF ALABAMA IN ANY AGREEMENT ACTIONS.
Nothing in this Section 10 shall limit or restrict the Lender’s right to serve process or bring Agreement Actions in
manners and in courts otherwise than as herein provided.

 

    	 	 	 

     

    

 

SECTION
11Set-off.

 

In
addition to all liens upon, and rights of set-off against, any moneys, securities or other property of the Guarantor given to
the Lender by law, the Lender shall have a lien upon and a right of set-off against all moneys, securities and other property
of the Guarantor now or hereafter in the possession of, or on deposit with, the Lender, whether held in a general or special account
or deposit, for safekeeping or otherwise; and every such lien and right of set-off may be exercised without demand upon or notice
to the Guarantor.

 

SECTION
12Tolling of Statute of Limitations.

 

Any
act or circumstance that shall toll any statute of limitations applicable to the Borrower’s Obligations shall also toll
the statute of limitations applicable to the liability of the Guarantor for the Borrower’s Obligations under this Agreement.

 

SECTION
13Notices.

 

(a)       Any
request, demand, authorization, direction, notice, consent or other document provided or permitted by this Agreement shall be
given in the manner, and shall be effective at the time, provided in Section 11.2 of the Credit Agreement.

 

(b)       Five
Business Days’ written notice to the Guarantor as provided above shall constitute reasonable notification to the Guarantor
when notification is required by law; provided, however, that nothing contained in the foregoing shall be construed as requiring
five Business Days’ notice if, under applicable law and the circumstances then existing, a shorter period of time would
constitute reasonable notice.

 

SECTION
14Survival of Agreements, etc.

 

All
agreements, representations and warranties of the Guarantor hereunder shall survive the execution and delivery of this Agreement
and the Loan Documents, any investigation at any time made by or on behalf of the Lender, the acceptance of the Loan Documents
by the Lender and any disposition and payment of the Loan Documents.

 

SECTION
15Successors and Assigns.

 

All
covenants and agreements of the Guarantor set forth in this Agreement shall bind the Guarantor and the Guarantor’s successors
and assigns and shall inure to the benefit of, and be enforceable by, the Lender and its successors and assigns, including any
holder of any of the Loan Documents.

 

SECTION
16Termination.

 

This
Agreement shall remain in full force and effect until (a) all the Borrower’s Obligations shall have been paid in full, and
(b) the Lender shall have no obligation to extend any further Loans to or for the account of the Borrower under the Loan Documents;
subject, however, to the provisions of Section 17.

 

    	 	 	 

     

    

 

SECTION
17Reinstatement of Borrower’s Obligations.

 

This
Agreement and the obligations of the Guarantor hereunder shall continue to be effective, or be automatically reinstated, as the
case may be, if at any time payment of any of the Borrower’s Obligations by any Obligor is rescinded or must otherwise be
restored or returned to such Obligor (or paid to the creditors of such Obligor or to any custodian for such Obligor or any of
the property thereof) upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of such Obligor, or upon or
as a result of the appointment of a custodian with respect to such Obligor or with respect to any part of the property thereof,
or otherwise, all as though such payment had not been made.

 

SECTION
18Miscellaneous.

 

Neither
this Agreement nor any provision hereof may be terminated, amended, supplemented, waived, released or modified orally, but only
by an instrument in writing signed by the party against which the enforcement of the termination, amendment, supplement, waiver,
release or modification is sought (or a duly authorized officer of such party). This Agreement shall in all respects be governed
by, and construed and enforced in accordance with, the laws of the State of Alabama (without regard to conflict of law principles).
If any provision of this Agreement or any obligation hereunder shall be held to be invalid, illegal or unenforceable, the remainder
of this Agreement and any other application of such provision shall not be affected thereby. The section headings of this Agreement
are for convenience only, and shall not modify, define, limit or expand the express provisions hereof. This Agreement may be executed
in several counterparts, each of which shall be deemed an original but all of which together shall constitute one instrument,
and it shall not be necessary in making proof hereof to produce or account for more than one such counterpart. This Agreement
is executed under the seal of the Guarantor.

 

SECTION
19WAIVER OF JURY TRIAL.

 

THE
GUARANTOR AND THE LENDER HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING
TO THIS AGREEMENT, OR ANY LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.

 

SECTION
20Maximum Guaranty Amount.

 

The
Guarantor, and by its acceptance of this Agreement, the Lender hereby confirm that it is the intention of all such persons that
this Agreement and the obligations of the Guarantor hereunder not constitute a fraudulent transfer or conveyance for purposes
of the United States Federal Bankruptcy Code, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any
similar governmental requirement covering the protection of creditors’ rights or the relief of debtors to the extent applicable
to this Agreement and the obligations of the Guarantor hereunder. To effectuate the foregoing intention, the Guarantor and the
Lender hereby irrevocably agree that the obligations of the Guarantor under this Agreement shall be limited to the maximum amount
as will, after giving effect to such maximum amount and all of the other contingent and fixed liabilities of the Guarantor that
are relevant under such governmental requirement, and after giving effect to any collections from, any rights to receive contributions
from, or any payment made by or on behalf of any of the other Obligors in respect of the obligations of such other Obligor, result
in the obligations of the Guarantor under this Agreement not constituting a fraudulent transfer or conveyance.

 

    	 	 	 

     

    

 

SECTION
21Representations and Warranties.

 

The
Guarantor hereby represents and warrants to the Lender as follows, which representations and warranties shall survive the execution
and delivery hereof and remain in full force and effect until all of the Guarantor’s obligations hereunder are fully satisfied:

 

(a)       The
Guarantor is a corporation organized, validly existing and in good standing under the laws of the state of its organization, has
the full power, authority and legal right to execute, deliver and perform this Agreement and all other Loan Documents to which
it is a party and is duly authorized to execute and deliver, and to perform the Guarantor’s obligations under, this Agreement
and the other Loan Documents to which it is a party.

 

(b)       This
Agreement and the other Loan Documents to which it is a party constitute the legal, valid and binding obligations of the Guarantor,
enforceable in accordance with their respective terms.

 

(c)       The
execution and delivery of, and the performance of the Guarantor’s obligations under this Agreement and the other Loan Documents
to which it is a party do not violate the organizational documents of the Guarantor, or any provision of any law or regulation
or of any judgment, order, decree, determination or award of any court, arbitrator or Governmental Authority, bureau or agency
or of any mortgage, indenture, loan or security agreement, lease, contract or other agreement, instrument or undertaking to which
the Guarantor is a party or which is binding upon the Guarantor or any of the Guarantor’s properties or assets or result
in the creation or imposition of any lien on any property or asset of the Guarantor other than as provided by this Agreement.

 

(d)       All
necessary consents of other Persons to the execution and delivery of this Agreement and the other Loan Documents to which it is
a party have been obtained, and no consent, license, permit, approval or authorization of any Governmental Authority, bureau or
agency is required in connection with the execution, delivery, performance, validity or enforceability of this Agreement or the
other Loan Documents to which it is a party.

(e)       The
Guarantor hereby adopts and makes on its own behalf all representations and warranties set forth in the Credit Agreement that
are applicable to the Borrower’s subsidiaries, as if all such representations and warranties were expressly set forth herein.

 

(f)       No
consent, approval, authorization of, or registration, declaration or filing with, any Governmental Authority is required in connection
with or as a condition precedent to the due and valid execution and delivery by the Guarantor of this Agreement or any of the
other Loan Documents to which it is a party or the legality or validity, binding effect or enforceability of any of the terms,
provisions or conditions hereof or thereof.

 

(g)       This
Agreement and the other Loan Documents to which it is a party are made in furtherance of the purposes for which the Guarantor
was organized and will promote and further the business of the Guarantor; and the assumption by the Guarantor of its obligations
hereunder and under the other Loan Documents to which it is a party will result in direct financial benefit to the Guarantor.

 

    	 	 	 

     

    

 

IN
WITNESS WHEREOF, the Guarantor has caused this Agreement to be executed under seal in its name and on its behalf by its officers
thereunto duly authorized.

 

	 	FRANKLY
    CO.
	 	 	 
	 	By:	/s/
    Steve Chung
	 	Name:	Steve
    Chung
	 	Title:	Chief
    Executive Officer

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