Document:

Exhibit 10.9

 

D AND Z
MEDIA ACQUISITION CORP.

2870 Peachtree Road NW, Suite 509

Atlanta, GA 30305

 

[  ], 2021

 

D and Z Media Holdings LLC

2870 Peachtree Road NW, Suite 509

Atlanta, GA 30305

 

		Re:	Administrative Services Agreement

 

Ladies and Gentlemen:

 

This letter agreement
(this “Agreement”) by and between D and Z Media Acquisition Corp. (the “Company”)
and D and Z Media Holdings LLC (the “Sponsor”), dated as of the date hereof, will confirm our agreement
that, commencing on the date the securities of the Company are first listed on the New York Stock Exchange (the “Listing
Date”), pursuant to a Registration Statement on Form S-1 and prospectus filed with the U.S. Securities and Exchange
Commission (the “Registration Statement”) and continuing until the earlier of the consummation by the
Company of an initial business combination or the Company’s liquidation (in each case as described in the Registration Statement)
(such earlier date hereinafter referred to as the “Termination Date”):

 

1. The
Sponsor shall make available, or cause to be made available, to the Company, at 2870 Peachtree Road NW, Suite 509, Atlanta, GA
30305 (or any successor location), office space and secretarial and administrative services as may be reasonably required by the
Company. In exchange therefor, the Company shall pay the Sponsor $15,000 per month on the Listing Date and continuing monthly thereafter
until the Termination Date; and

 

2. The
Sponsor hereby irrevocably waives any and all right, title, interest, causes of action and claims of any kind as a result of, or
arising out of, this Agreement (each, a “Claim”) in or to, and any and all right to seek payment of any
amounts due to it out of, the trust account established for the benefit of the public stockholders of the Company and into which
substantially all of the proceeds of the Company’s initial public offering will be deposited (the “Trust Account”),
and hereby irrevocably waives any Claim it may have in the future as a result of, or arising out of, this Agreement, which Claim
would reduce, encumber or otherwise adversely affect the Trust Account or any monies or other assets in the Trust Account, and
further agrees not to seek recourse, reimbursement, payment or satisfaction of any Claim against the Trust Account or any monies
or other assets in the Trust Account for any reason whatsoever.

 

This Agreement constitutes
the entire agreement and understanding of the parties hereto in respect of its subject matter and supersedes all prior understandings,
agreements, or representations by or between the parties hereto, written or oral, to the extent they relate in any way to the subject
matter hereof or the transactions contemplated hereby.

 

This Agreement may
not be amended, modified or waived as to any particular provision, except by a written instrument executed by the parties hereto.

 

No party hereto may
assign either this Agreement or any of its rights, interests, or obligations hereunder without the prior written approval of the
other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer
or assign any interest or title to the purported assignee.

 

This Agreement constitutes
the entire relationship of the parties hereto, and any litigation between the parties (whether grounded in contract, tort, statute,
law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the laws of the State of New York.

 

[Signature Page Follows]

 

    

     

    

 

	 	Very truly yours,
	 	 
	 	D AND Z MEDIA ACQUISITION CORP.

 

	 	By:	                           
	 	 	Name:	Betty Liu
	 	 	Title:	President and Chief Executive Officer

 

AGREED AND ACCEPTED BY:

 

D AND Z MEDIA HOLDINGS LLC

 

By: D AND Z MEDIA
LLC, its managing member

 

	By:	                         	 
	 	Name:	Betty Liu	 
	 	Title:	Sole MemberExhibit 10.29

 

WAIVER

 

This
Waiver (this “Waiver”) is entered into as of December 23, 2020, by and between Akerna Corp., a Delaware corporation
(the “Company”), and the undersigned holder (the “Holder”), which constitutes the “Required
Holders” pursuant to that certain Securities Purchase Agreement between the Company and all of the investors listed
on the Schedule of Buyers (the “Buyers”) dated June 8, 2020 (the “SPA”) with reference to
the following facts:

 

A. On
June 8, 2020, the Company and the Buyers entered into the SPA in relation to the issuance and sale by the Company and purchase
by the Holders of that aggregate principal amount of senior secured convertible notes of the Company, in substantially the form
attached to the SPA as Exhibit A (as amended from time to time prior to the date hereof, the “Notes”),
set forth opposite such Buyer’s name on the Schedule of Buyers (which aggregate principal amount of Notes for all Buyers was $17,000,000).
Capitalized terms not defined herein shall have the meaning as set forth in the Notes.

 

B. The
issuance of the Notes occurred at a closing on June 9, 2020 (the “Closing Date”).

 

C. The
Company desires, from time to time, to waive the limit on an Installment Amount imposed by the Installment Scheduled Principal
Amount by delivering an Installment Notice, subject to confirmation by the Holder, setting forth an increased Installment Amount
for the next Installment Date.

 

D. The
Company desires to waive the prohibition on the acceleration of Installment Amounts to permit the acceleration of the Installment
Amount due on the Installment Date of January 4, 2021, in whole or in part, to one or more Acceleration Dates from December 24,
2020 through to, and including, the Trading Day immediately prior to January 4, 2021, with such dates and amounts, up to the Installment
Amount, to be elected by the Holder pursuant to Section 8(e).

 

E. The
Holder desires to waive the requirement in Section 8(a) of the Notes that Installment Amounts payable prior to April 1, 2021 be
paid in cash pursuant to an Installment Redemption and shall not be paid pursuant to an Installment Conversion.

 

NOW,
THEREFORE, in consideration of the premises set forth above, and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

1. Installment
Amount Waiver. In relation to any Installment Notice due under Section 8(a), the Company may irrevocably waive the Installment
Scheduled Principal Amount for the next Installment Date by setting forth in such Installment Notice an Installment Amount for
the next Installment Date greater than the Installment Amount due and payable on the next Installment Date. The Holder may consent
to all or a portion of such increased Installment Amount for the next Installment Date by written confirmation no later than 4:00
p.m. New York time on the Trading Day immediately prior to such Installment Date. The parties agree that the Installment Notice
attached hereto as Exhibit A is the Installment Notice for the January 4, 2021 Installment Date, properly and timely delivered
pursuant to the provisions of Section 8(a), and superseding any previously delivered Installment Notice for the January 4, 2021
Installment Date. In connection with the Installment Notice for the January 4, 2021 Installment Date, and solely in relation to
the Intallment Amount and increased Installment Amount for the January 4, 2021 Installment Date as set forth therein, the Holder
waives the Price Failure under section (x) of the definition of Equity Conditions.

 

     

     

    

 

2. Installment
Acceleration. Effective as of the Effective Time, the Company agrees to irrevocably waive the prohibition of acceleration
of Installment Amounts in Section 8(e) of the Notes solely in relation to the Installment Amount for the January 4, 2021 Installment
Date to permit the Holder to accelerate such Installment Amount, in whole or in part, to one or more Acceleration Dates from December
24, 2020 through to, and including, the Trading Day immediately prior to January 4, 2021, with such dates and amounts, up to the
Installment Amount, to be elected by the Holder pursuant to Section 8(e).    

 

3. Installment
Conversion Waiver. Effective as of the Effective Time (as defined below), the Holder hereby irrevocably waives, for the remainder
of the term of the Notes, the last sentence of Section 8(a) requiring that Installment Amounts payable prior to April 1, 2021
be paid in cash pursuant to an Installment Redemption and not paid pursuant to an Installment Conversion.

 

4. Acknowledgments.
The Company hereby confirms and agrees that (i) except with respect to the waivers set forth in Sections 2 and 3 above that are
effective as of the Effective Time, the Notes and the other Transaction Documents shall continue to be, in full force and effect;
(ii) the execution, delivery and effectiveness of this Waiver shall not operate as an amendment, modification or waiver of any
right, power or remedy of the Holder or any other Buyers except to the extent expressly set forth herein.

 

5. Fees
And Expenses. The Company shall reimburse the Holder a nonaccountable amount of $5,000 for the legal fees and expenses of
Kelley Drye & Warren LLP, counsel to the Holder, in connection with the preparation and negotiation of this Waiver and transactions
contemplated thereby, by paying any such amount by wire transfer of immediately available funds in accordance with the written
instructions delivered to the Company (the “Legal Fee Amount”). The Legal Fee Amount shall be paid by the Company
whether or not the transactions contemplated by this Waiver are consummated within 24 hours of the Effective Time.

 

6. Effective
Time. This Waiver shall be effective on December 23, 2020 (the “Effective Time”).

 

    	 	-2-	 

     

    

 

7. No
Material Information. On or before 8:30 a.m., New York City time, on the first Business Day after the Effective Time, the
Company shall file a Current Report on Form 8-K describing the terms of the transactions contemplated by this Waiver and any other
material non-public information the Company may have provided to the Holder in relation thereto or otherwise in the form required
by the 1934 Act and attaching this Waiver as exhibits to such filing (the “8-K Filing”). From and after the filing
of the 8-K Filing with the SEC, the Holder shall not be in possession of any material, nonpublic information received from the
Company, any of its Subsidiaries or any of their respective officers, directors, employees, affiliates or agents, that is not
disclosed in the 8-K Filing. The Company agrees in relation to any waived increased Installment Amount set forth in an Installment
Notice delivered by the Company, if such increased Installment Amount constitutes material, nonpublic information, the Company
shall (i) state in the Installment Notice that the Company believes that the increased Installment Amount is material, nonpublic
information, (ii) only deliver such Installment Notice after 4:00 p.m., New York City time and (iii) promptly file a Form 8-K
disclosing the increased Installment Amount no later than on or before 8:30 a.m., New York City time on the first Business Day
after delivery of such Installment Notice, pursuant to Section 4(i)(iii) of the SPA. If the Company does not make such statement
in the Installment Notice as provided in the immediately preceding sentence, the Holder will be entitled to treat the increased
Installment Amount as not being material, nonpublic information. The confirmation of the Holder of any increased Installment Amount
will not be material, non-public information. In addition, the Company acknowledges and agrees that any and all confidentiality
or similar obligations under any agreement, whether written or oral, between the Company, any of its Subsidiaries or any of their
respective officers, directors, affiliates, employees or agents on the one hand, and the Holder or any of its affiliates on the
other hand, has terminated as of the date hereof and is of no further force or effect. The Company shall not, and shall cause
each of its Subsidiaries and its and each of their respective officers, directors, affiliates, employees and agents, not to, provide
any Holder with any material, non-public information regarding the Company or any of its Subsidiaries from and after the date
hereof without the express prior written consent of the Holder. To the extent that the Company, any of its Subsidiaries or any
of their respective officers, directors, affiliates employees or agents delivers any material, non-public information to any Holder
without the Holder’s consent, including delivery of any Installment Notice with a proposed increased Installment Amount,
the Company hereby covenants and agrees that the Holder shall not have any duty of confidentiality to the Company, any of its
Subsidiaries or any of their respective officers, directors, affiliates, employees or agents with respect to, or a duty to the
Company, any of its Subsidiaries or any of their respective officers, directors, affiliates, employees or agents not to trade
on the basis of, such material, non-public information. The Company understands and confirms that the Holder will rely on the
foregoing representations in effecting transactions in securities of the Company.

 

8. No
Third Party Beneficiaries. This Waiver is intended for the benefit of the parties hereto and their respective permitted successors
and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

9. Counterparts.
This Waiver may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which
when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one and
the same instrument. In the event that any signature is delivered by facsimile transmission or by an e-mail which contains a portable
document format (.pdf) file of an executed signature page, such signature page shall create a valid and binding obligation of
the party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page were
an original thereof.

 

10. No
Strict Construction. The language used in this Waiver will be deemed to be the language chosen by the parties to express their
mutual intent, and no rules of strict construction will be applied against any party.

 

    	 	-3-	 

     

    

 

11. Headings.
The headings of this Waiver are for convenience of reference and shall not form part of, or affect the interpretation of, this
Waiver.

 

12. Severability.
If any provision of this Waiver is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent
jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the
broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect
the validity of the remaining provisions of this Waiver so long as this Waiver as so modified continues to express, without material
change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or unenforceability
of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations of the parties
or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will endeavor in
good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect
of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

13. Amendments.
No provision of this Waiver may be amended other than by an instrument in writing signed by the Company and the Required Holders.

 

14. Further
Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Waiver and the consummation of the transactions contemplated
hereby.

 

15. Notice.
Whenever notice is required to be given under this Waiver, unless otherwise provided herein, such notice shall be given in accordance
with Section 9(f) of the SPA.

 

16. Successors
and Assigns. This Waiver shall be binding upon and inure to the benefit of the parties and their respective successors and
assigns.

 

17. Governing
Law; Jurisdiction; Jury Trial. All questions concerning the construction, validity, enforcement and interpretation of this
Waiver shall be governed by the internal laws of the State of New York, without giving effect to any choice of law or conflict
of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application of the
laws of any jurisdictions other than the State of New York. Each party hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in The City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder
or in connection herewith or with any transaction contemplated hereby or discussed herein, 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 any
such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or
proceeding is improper. 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 to such party at the address for such notices to it under this
Waiver 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 manner permitted by law. EACH PARTY HEREBY IRREVOCABLY
WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION
WITH OR ARISING OUT OF THIS WAIVER OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

[Signature
Pages Follow]

 

    	 	-4-	 

     

    

 

IN
WITNESS WHEREOF, the undersigned and the Company have caused their respective signature page to this Waiver to be duly executed
as of the date first written above.

 

	 	COMPANY:
	 	 
	 	AKERNA CORP.
	 	 	 
	 	By:	 
	 	 	Name: John Fowle
	 	 	Title: Chief Financial Officer

 

[Signature Page to Amendment and Waiver
– December 2020]

 

    	 	-5-	 

     

    

 

IN
WITNESS WHEREOF, the undersigned and the Company have caused their respective signature page to this Waiver to be duly executed
as of the date first written above.

 

	 	HOLDER:
	 	 	 
	 	[HOLDER NAME]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

[Holder Signature
Page to Amendment and Waiver – December 2020]

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