Document:

etck_ex102.htm

EXHIBIT 10.2
  
  TENTH AMENDMENT TO LEASE AGREEMENT
  
 This TENTH AMENDMENT TO LEASE AGREEMENT (“Amendment”) is entered into as of this ______ day of 1/6/2021 | 3:45 PM EST, 2020 (the “Effective Date”), by and between SUNBLOSSOM CORPORATE PARK 10701, LLC, by and through its Agent, Stone Mountain Management, LLC (said Owner being hereinafter referred to as “Landlord”) and ENERTECK CHEMICAL CORP. (“Tenant”), with respect to the facts set forth below:
  
 RECITALS
  
 A. Landlord and Tenant entered into that certain Lease Agreement dated February 1, 2001 (the “Original Lease”), which was later amended by that First Amendment to Lease Agreement dated March 31, 2003, which was later amended by that Second Amendment to Lease Agreement dated April 18, 2006, which was later amended by that Third Amendment to Lease Agreement dated March 1, 2007, which was later amended by that Fourth Amendment to Lease Agreement dated February 23, 2010, which was later amended by that Fifth Amendment to Lease Agreement dated March 7, 2011, which was later amended by that Sixth Amendment to Lease Agreement dated March 18, 2014, which was later amended by that Seventh Amendment to Lease Agreement dated August 1, 2019, which was later amended by that Eighth Amendment to Lease Agreement dated January 27, 2020, which was later amended by that Ninth Amendment to Lease Agreement dated June 26, 2020 pursuant to which Tenant currently leases certain premises (the “Premises”) consisting of approximately 2,722 square feet of net rentable area, located at 10701 Corporate Drive, Suite 150, Stafford, Texas 77477 (the ‘‘Building’’).
  
 B. Landlord and Tenant desire to amend the Lease in order to extend the term upon the terms and conditions hereinafter set forth.
  
 AGREEMENT
  
 NOW, THEREFORE, in consideration of the foregoing Recitals, the mutual covenants and agreements contained in this Amendment, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree as follows:
  
 1. Extended Term. Landlord and Tenant agree that the existing term (the “Term”) of the Lease (presently scheduled to expire on February 28, 2021) shall be extended for a twelve (12) month period, commencing on March 1, 2021 (the “Extended Term Commencement Date”) and expiring on February 28, 2022 (the “Extended Term”). No such extension shall operate to release Tenant from liability for any amounts owed or defaults which exist under the Lease prior to the Extended Term Commencement Date.
  
 2. Condition of the Premises. Tenant acknowledges that (a) it will accept the Premises on the Extended Term Commencement Date in its then “AS-IS” condition, and (b) Landlord will have no obligation whatsoever to improve the Premises.
  
 3. Monthly Base Rent. Base Rent for the Premises shall be payable in monthly installments as follows:
    
 	 March 1, 2021 – February 28, 2022
	 $4,536.67 per month

   
 	 
	1
	

	 

  
 4. Option to Terminate. Provided that Tenant is not in default of the Lease, Tenant shall have a one-time right to cancel and terminate this Lease without penalty at the expiration of the sixth (6th) month of the Lease Term. Such cancellation shall be ineffective unless (1) written notice is provided to Landlord not more than ninety (90) days and no less than sixty (60) days prior to the sixth (6th) month of the Lease Term.
  
 5. Confidentiality. Tenant acknowledges that the terms and conditions set forth in this Lease are confidential in nature, and that the negotiations preceding the drafting of this instrument constitute proprietary information of Landlord. Therefore, Tenant and its agents (including Tenant’s brokers and attorneys) shall not disclose any of the terms or conditions herein contained to any person other than authorized agents of Tenant. In no event shall Tenant disclose any such terms or conditions to any third- party tenant within the Property. In the event Tenant breaches such confidence, Tenant shall be in Default of this Lease and/or shall be liable to Landlord for any damages Landlord sustains as a direct or indirect result of such breach.
  
 6. Notice by Tenant. Should Tenant decide to vacate the premises upon expiration of this or any extended term, Tenant agrees to provide Landlord with ninety (90) days prior written notice of its intent to vacate. If ninety (90) days prior written notice is not provided and the space is vacated upon expiration or anytime thereafter without proper notice the tenant agrees to forfeit the security deposit to Landlord.
  
 7. Broker(s). Each party represents and warrants to the other, that, to its knowledge, no broker, agent or finder (other than LandPark Commercial, LLC representing Landlord) (a) negotiated or was instrumental in negotiating or consummating this Amendment on its behalf, and (b) is or might be entitled to a commission or compensation in connection with this Amendment. Landlord and Tenant each agree to promptly indemnify, protect, defend and hold harmless the other from and against any and all claims, damages, judgments, suits, causes of action, losses, liabilities, penalties, fines, expenses and costs (including attorneys’ fees and court costs) resulting from any breach by the indemnifying party of the foregoing representation, including, without limitation, any claims that may be asserted by any broker, agent or finder undisclosed by the indemnifying party. The foregoing mutual indemnity shall survive the expiration or earlier termination of the Lease as amended hereby.
  
 8. Miscellaneous. Except as specifically modified in this Amendment, the Lease remains in full force and effect between the parties hereto, as modified by this Amendment. To the extent of any inconsistency or conflict between the terms and conditions of the Lease and the terms and conditions of this Amendment, the terms and conditions of this Amendment shall prevail and control. This Amendment embodies the entire understanding between Landlord and Tenant with respect to its subject matter and can be changed only by an instrument in writing signed by Landlord and Tenant. This Amendment may be executed in counterparts, each of which shall be deemed an original, but all of which, together, shall constitute one in the same Amendment. Each individual executing this Amendment on behalf of Tenant represents that he or she is duly authorized to execute and deliver this Amendment on behalf of the corporation, and that this Amendment is binding upon the corporation in accordance with its terms.
  
 (The remainder of this page is intentionally left blank)
  
 	 
	2
	

	 

  
 IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as of the date first written above.
   
 “Landlord”
   
 	 	SUNBLOSSOM CORPORATE PARK 10701, LLC	
	 	By and through its Agent	 
	  
	 Stone Mountain Management, LLC
	  

	  
	    
	  
	  

		By:	/s/ Ceyan Birney 	
	  
	 Name:
	Ceyan Birney  	 
	 	Title:	Secretary	 
	 	 	 	 
	 “Tenant”
	  
	  
	  

	  
	  
	  
	  

	  
	 ENERTECK CHEMICAL CORP.
	  

	  
	  
	  
	  

	  
	 By:
	 /s/ Gary Aman 
	  

	  
	 Name:
	 Gary Aman 
	  

	  
	 Title: 
	 President  
	  

    
   
 	 3Exhibit 10.1

 

Execution Version 

 

LIMITED WAIVER AND CONSENT TO CREDIT AGREEMENT

 

THIS LIMITED WAIVER AND CONSENT
TO CREDIT AGREEMENT (this “Waiver”) dated as of March 31, 2021 between SEQUENTIAL BRANDS GROUP, INC., a Delaware corporation
(the “Borrower”), the Guarantors party hereto, the Lenders party hereto, and WILMINGTON TRUST, NATIONAL ASSOCIATION,
as administrative agent and collateral agent (the “Agent”), in consideration of the mutual covenants herein contained
and benefits to be derived herefrom.

 

W I T N E S S E T H:

 

WHEREAS, the Borrower, the
Guarantors, the Lenders and the Agent are party to that certain Third Amended and Restated Credit Agreement dated as of July 1, 2016 (as
amended, restated, supplemented or modified and in effect as of the date hereof, the “Credit Agreement”);

 

WHEREAS, on November 15, 2020,
the Borrower, the Agent, and Lenders constituting Required Lenders entered into the Fifth Amendment pursuant to which (i) the parties
thereto amended certain provisions of the Credit Agreement and (ii) the Required Lenders granted the Borrower the Requested Waiver (as
such term is defined in the Fifth Amendment) on the terms set forth in the Fifth Amendment in respect of the Specified Events of Default
(as such term is defined in the Fifth Amendment);

 

WHEREAS, on December 31, 2020,
the Borrower, Lenders constituting Required Lenders and the Agent entered into that certain Limited Waiver and Consent to Credit Agreement
pursuant to which the Required Lenders extended the Requested Waiver to January 31, 2021, on the terms and conditions set forth therein;

 

WHEREAS, on January 31, 2021,
the Borrower, Lenders constituting Required Lenders and the Agent entered into that certain Limited Waiver and Consent to Credit Agreement
pursuant to which the Required Lenders extended the Requested Waiver to February 21, 2021, on the terms and conditions set forth therein;

 

WHEREAS, on February 21, 2021,
the Borrower, Lenders constituting Required Lenders and the Agent entered into that certain Limited Waiver and Consent to Credit Agreement
pursuant to which the Required Lenders extended the Requested Waiver to March 10, 2021, on the terms and conditions set forth therein;

 

WHEREAS, on March 10, 2021,
the Borrower, Lenders constituting Required Lenders and the Agent entered into that certain Limited Waiver and Consent to Credit Agreement
pursuant to which the Required Lenders extended the Requested Waiver to March 31, 2021, on the terms and conditions set forth therein;

 

WHEREAS, the Borrower has
requested that the Lenders party hereto (constituting Required Lenders) and the Agent further extend the Requested Waiver to April 19,
2021, on the terms and for the period set forth herein;

 

WHEREAS, the Required Lenders
and the Agent (at the direction of the Required Lenders) have agreed to extend the Requested Waiver as set forth herein.

 

NOW THEREFORE, in consideration
of the mutual promises and agreements herein contained, the parties hereto hereby agree as follows:

 

     

     

    

		1.	Incorporation of Terms. All capitalized terms not otherwise defined herein shall have the same
meaning as in the Credit Agreement.

 

		2.	Representations and Warranties. The Borrower hereby represents and warrants that (i) no Default
or Event of Default exists under the Credit Agreement or under any other Loan Document on and as of the date hereof (other than the Specified
Events of Default subject to the Requested Waiver), and (ii) after giving effect to this Waiver, all representations and warranties contained
in the Credit Agreement and the other Loan Documents are true and correct, in all material respects, on and as of the date hereof, except
(i) to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and
correct as of such earlier date, and (ii) in the case of any representation and warranty qualified by materiality, they shall be true
and correct in all respects.

 

		3.	Limited Waiver. Subject to the satisfaction of the conditions precedent set forth in Section 4
of this Waiver, Agent and the Lenders party hereto hereby grant an extension to the Requested Waiver through April 19, 2021 (subject to
further extension as may be granted as set forth below); provided, that the foregoing waiver shall be effective only to the extent specifically
set forth herein and shall not (a) be construed as a consent to or waiver of (i) any breach, Default or Event of Default other than as
specifically waived herein, or (ii) any breach, Default or Event of Default of which Agent or any of the Lenders have not been informed
by any Loan Party, (b) affect the right of Agent or any of the Lenders to demand strict compliance by each Loan Party with all terms and
conditions of the Credit Agreement and the Loan Documents, except as specifically consented to, modified or waived by the terms hereof,
(c) be deemed a consent to or waiver of any future transaction or action on the part of any Loan Party requiring the Lenders’ or
the Required Lenders’ consent or approval under the Credit Agreement or the Loan Documents, or (d) diminish, prejudice or waive
any of Agent’s or any Lender’s rights and remedies under the Credit Agreement, any of the other Loan Documents, or applicable
law, whether arising as a consequence of any Default or Event of Default which may now exist or otherwise, and Agent and each of the Lenders
hereby reserve all of such rights and remedies. It is understood and agreed that the Requested Waiver is temporary and shall expire on
April 19, 2021 unless further extended by the Agent (at the direction of the Required Lenders in their sole discretion). Upon the expiration
of the Requested Waiver, the Specified Events of Defaults shall constitute an immediate Event of Default under the Credit Agreement. For
the avoidance of doubt and notwithstanding anything herein to the contrary, during the period in which the Requested Waiver is in effect,
to the extent any provision of the Credit Agreement or any other Loan Document is qualified by, or requires the absence of, any Default
or Event of Default, a Default or Event of Default shall be deemed to have occurred for purposes of such provisions as a result of the
Specified Events of Default notwithstanding the Requested Waiver.

 

		4.	Conditions to Effectiveness. This Waiver shall not be effective until each of the following conditions
precedent has been fulfilled to the satisfaction of the Agent (at the direction of the Required Lenders):

 

    	 	-2-	 

     

    

 

		a.	This Waiver shall have been duly executed and delivered by the Borrower, the other Loan Parties, the Agent,
and the Required Lenders, and the Agent shall have received evidence thereof.

 

		b.	The Agent shall have received a duly executed and effective Amendment to Fourth Amendment to Third Amended
and Restated Credit Agreement Side Letter, dated as of the date hereof, by and among the Borrower, the Agent and the Lenders party thereto
(the “Side Letter Amendment”).

 

		c.	All action on the part of the Borrower and the other Loan Parties necessary for the valid execution, delivery
and performance by the Borrower and the other Loan Parties of this Waiver and the other Loan Documents shall have been duly and effectively
taken.

 

		d.	After giving effect to this Waiver, no Default or Event of Default shall have occurred and be continuing.

 

		e.	The Borrower shall have paid in full all fees and expenses of the Agent (including the reasonable and
documented fees and expenses of counsel for the Agent) and the KKR Representative (including those of King & Spalding LLP and Province
Inc.) due and payable on or prior to the date hereof, and in the case of expenses, to the extent invoiced at least one (1) Business Day
prior to the date hereof.

 

		5.	Binding Effect. The terms and provisions hereof shall be binding upon and inure to the benefit
of the parties hereto and their heirs, representatives, successors and assigns.

 

		6.	Reaffirmation of Obligations. The Borrower and each Guarantor hereby ratifies the Loan Documents
and acknowledges and reaffirms (a) that it is bound by all terms of the Loan Documents applicable to it and (b) that it is responsible
for the observance and full performance of its respective Obligations.

 

		7.	Loan Document. This Waiver shall constitute a Loan Document under the terms of the Credit Agreement.

 

		8.	Multiple Counterparts. This Waiver may be executed in counterparts (and by different parties hereto
in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single
contract. Delivery of an executed counterpart of a signature page of this Waiver by telecopy, pdf or other electronic transmission shall
be as effective as delivery of a manually executed counterpart of this Waiver.

 

		9.	Governing Law. THIS WAIVER AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION, WHETHER IN
LAW OR EQUITY, WHETHER IN CONTRACT OR IN TORT OR OTHERWISE BASED UPON, ARISING OUT OF OR RELATING TO THIS WAIVER AND THE TRANSACTIONS
CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 

 

    	 	-3-	 

     

    

 

		10.	Consent to Jurisdiction; Service of Process; Waiver of Jury Trial. The jurisdiction, service of
process and waiver of jury trial provisions set forth in Sections 10.14 and 10.15 of the Credit Agreement are hereby incorporated
by reference, mutatis mutandis.

 

		11.	Agent Authorization. Each of the undersigned Lenders hereby authorizes and directs Agent to execute
and deliver this Waiver on its behalf and, by its execution below, each of the undersigned Lenders agrees to be bound by the terms and
conditions of this Waiver.

 

 

 

 

 

    	 	-4-	 

     

    

 

 

 IN WITNESS WHEREOF, this
Waiver has been duly executed and delivered by each of the parties hereto as of the date first above written.

 

	 	BORROWER:

 

 

	 	SEQUENTIAL BRANDS GROUP, INC.
	 	 	 
	 	By:	  /s/ Lorraine DiSanto
	 	Name:  	Lorraine DiSanto
	 	Title:	Chief Financial Officer
	 	 	 

 

	 	GUARANTORS:

 

	 	SQBG, INC.
	 	 	 
	 	By:	 /s/ Lorraine DiSanto
	 	Name:	Lorraine DiSanto
	 	Title:	Chief Financial Officer
	 	 	 
	 	SEQUENTIAL LICENSING, INC.
	 	 	 
	 	By:	 /s/ Lorraine DiSanto
	 	Name: 	Lorraine DiSanto
	 	Title:	Chief Financial Officer
	 	 	 
	 	WILLIAM RAST LICENSING, LLC
	 	 	 
	 	By:	/s/ Lorraine DiSanto
	 	Name:	Lorraine DiSanto
	 	Title:	Chief Financial Officer
	 	 	 
	 	HEELING SPORTS LIMITED  
	 	 	 
	 	By:	  /s/ Lorraine DiSanto
	 	Name:	Lorraine DiSanto
	 	Title:	Chief Financial Officer
	 	 	 
	 	B®AND MATTER, LLC
	 	 	 
	 	By:	  /s/ Lorraine DiSanto
	 	Name:	Lorraine DiSanto
	 	Title:	Chief Financial Officer

 

 
  

    [Signature Page to Limited Waiver and Consent]

     

    

 

	 	 	 
	 	SBG FM, LLC
	 	 	 
	 	By:	 /s/ Lorraine DiSanto
	 	Name:	Lorraine DiSanto
	 	Title:	Chief Financial Officer
	 	 	 
	 	SBG UNIVERSE BRANDS, LLC
	 	 	 
	 	By:	 /s/ Lorraine DiSanto
	 	Name: 	Lorraine DiSanto
	 	Title:	Chief Financial Officer
	 	 	 
	 	GALAXY BRANDS LLC
	 	 	 
	 	By:	/s/ Lorraine DiSanto
	 	Name:	Lorraine DiSanto
	 	Title:	Chief Financial Officer
	 	 	 
	 	The Basketball Marketing Company, Inc. 
	 	 	 
	 	By:	  /s/ Lorraine DiSanto
	 	Name:	Lorraine DiSanto
	 	Title:	Chief Financial Officer
	 	 	 
	 	AMERICAN SPORTING GOODS CORPORATION
	 	 	 
	 	By:	  /s/ Lorraine DiSanto
	 	Name:  	Lorraine DiSanto
	 	Title:	Chief Financial Officer
	 	 
	 	LNT BRANDS LLC 
	 	 	 
	 	By:	  /s/ Lorraine DiSanto
	 	Name:  	Lorraine DiSanto
	 	Title:	Chief Financial Officer
	 	 
	 	JOE’S HOLDINGS LLC
	 	 	 
	 	By:	  /s/ Lorraine DiSanto
	 	Name:  	Lorraine DiSanto
	 	Title:	Chief Financial Officer

 

 

 

    [Signature Page to Limited Waiver and Consent]

     

    

 

	 	GAIAM BRAND HOLDCO, LLC
	 	 	 
	 	By:	 /s/ Lorraine DiSanto
	 	Name: 	Lorraine DiSanto
	 	Title:	Chief Financial Officer
	 	 	 
	 	GAIAM AMERICAS, INC.
	 	 	 
	 	By:	 /s/ Lorraine DiSanto
	 	Name: 	Lorraine DiSanto
	 	Title:	Chief Financial Officer
	 	 	 
	 	SBG-GAIAM HOLDINGS, LLC
	 	 	 
	 	By:	/s/ Lorraine DiSanto
	 	Name:	Lorraine DiSanto
	 	Title:	Chief Financial Officer

 

 

 

 

 

    [Signature Page to Limited Waiver and Consent]

     

    

 

 

	 	wilmington trust, national association, as Agent
	 	 	 
	 	By:	/s/ David Bergstrom
	 	Name: 	David Bergstrom
	 	Title:	Vice President

 

 

 

 

    [Signature Page to Limited Waiver and Consent]

     

    

 

	 	LENDERS:

  

	 	FS KKR CAPITAL CORP.
	 	 	 
	 	By: 	/s/ Jessica Woolf
	 	Name:	Jessica
Woolf
	 	Title: 	Authorized Signatory
	 	 	 
	 	FS KKR MM CLO 1 LLC
	 	 	 
	 	By:	 /s/ Jessica Woolf
	 	Name: 	Jessica Woolf
	 	Title:	Authorized Signatory
	 	 	 
	 	 	 
	 	DARBY CREEK LLC
	 	 	 
	 	By: 	/s/ Jessica Woolf
	 	Name:	Jessica
Woolf
	 	Title:	Authorized
Signatory
	 	 	 
	 	 	 
	 	FS KKR CAPITAL CORP. II
	 	 	 
	 	By: 	/s/ Jessica Woolf
	 	Name: 	Jessica Woolf
	 	Title: 	Authorized Signatory
	 	 	 
	 	 	 
	 	DUNLAP FUNDING LLC
	 	 	 
	 	By: 	/s/ Jessica Woolf
	 	Name:	Jessica
Woolf
	 	Title: 	Authorized Signatory

 

 

 

 

 

 

    [Signature Page to Limited Waiver and Consent]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00325-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00325-of-00352.parquet"}]]