Document:

EX-10.5

 Exhibit 10.5 

LIMITED LIABILITY COMPANY AGREEMENT 

OF 
 NILT LLC 

This Limited Liability Company Agreement (together with the schedules attached hereto, this “Agreement”) of NILT LLC (the
“Company”), is entered into by Nissan Motor Acceptance Company LLC, a Delaware limited liability company (“NMAC”), as the sole equity member (the “Member”), and Kevin P. Burns and Cheryl A.
Lawrence, as the Independent Managers (as defined on Schedule A hereto). Capitalized terms used and not otherwise defined herein have the meanings set forth on Schedule A hereto. 

WHEREAS, NILT Trust (the “Trust”) was formed as a Delaware statutory trust on July 7, 1998 pursuant to a
certificate of trust (the “Certificate of Trust”) and is governed by an Amended and Restated Trust Agreement, dated as of March 1, 1999 (the “Trust Agreement”), by and between NMAC, as grantor and beneficiary,
U.S. Bank Trust National Association, as trustee, NMAC, as administrator, and Wilmington Trust Company, as Delaware trustee; 

WHEREAS, NMAC, as the sole beneficial owner of the Trust has authorized the conversion of the Trust to a limited liability company and
the adoption of this Agreement pursuant to Section 3821 of the Delaware Statutory Trust Act; 
 WHEREAS, on the date hereof, the
Trust was converted to a limited liability company pursuant to Section 18-214 of the Delaware Limited Liability Company Act (6 Del. C. § 18-101 et seq.) (as
amended from time to time, the “Act”) and Section 3821 of the Delaware Statutory Trust Act (the “Conversion”), by causing the filing with the Secretary of State of the State of Delaware of a certificate of
conversion to limited liability company (the “Certificate of Conversion”) and a certificate of formation of the Company (as amended from time to time, the “Certificate of Formation”); and 

WHEREAS, pursuant to this Agreement and the Conversion, the undivided beneficial interest in the Trust held by NMAC as sole beneficiary
immediately prior to the Conversion is converted to all of the limited liability company interests in the Company and NMAC is admitted as a member of the Company owning 100% of the limited liability company interests in the Company. 

NOW, THEREFORE, the Independent Managers and the Member hereby agree as follows effective as the date hereof: 

Section 1. Name. 
 The name of the
limited liability company shall be NILT LLC. 
 Section 2. Principal Business Office. 

The principal business office of the Company shall be located at One Nissan Way, Franklin, Tennessee, 37067, or such other location as may
hereafter be determined by the Member. 
  

 Section 3. Registered Office. 

The address of the registered office of the Company in the State of Delaware is Corporation Service Company, 251 Little Falls Drive,
Wilmington, County of New Castle, Delaware 19808. 
 Section 4. Registered Agent. 

The name and address of the registered agent of the Company for service of process on the Company in the State of Delaware is Corporation
Service Company, 251 Little Falls Drive, Wilmington, County of New Castle, Delaware 19808. 
 Section 5. Members. 

(a) The mailing address of the Member is set forth on Schedule B attached hereto. 

(b) Subject to Section 9(j), the Member may act by written consent. 

(c) Upon the occurrence of any event that causes the Member to cease to be a member of the Company (other than upon continuation of the Company
without dissolution upon (i) an assignment by the Member of all of its limited liability company interest in the Company and the admission of the transferee pursuant to Sections 22 and 24, or (ii) the resignation of the
Member and the admission of an additional member of the Company pursuant to Sections 23 and 24), each Person acting as an Independent Manager pursuant to Section 10 shall, without any action of any Person and
simultaneously with the Member ceasing to be a member of the Company, automatically be admitted to the Company as a Special Member and shall continue the Company without dissolution. No Special Member may resign from the Company or transfer its
rights as Special Member unless (i) a successor Special Member has been admitted to the Company as Special Member by executing a counterpart to this Agreement, and (ii) such successor has also accepted its appointment as Independent
Manager pursuant to Section 10; provided, however, the Special Members shall automatically cease to be members of the Company upon the admission to the Company of a substitute Member. Each Special Member shall be a member
of the Company that has no interest in the profits, losses and capital of the Company and has no right to receive any distributions of Company assets. Pursuant to Section 18-301 of
the Act, a Special Member shall not be required to make any capital contributions to the Company and shall not receive a limited liability company interest in the Company. A Special Member, in its capacity as Special Member, may not bind the
Company. Except as required by any mandatory provision of the Act, each Special Member, in its capacity as Special Member, shall have no right to vote on, approve or otherwise consent to any action by, or matter relating to, the Company, including,
without limitation, the merger, consolidation, division or conversion of the Company. In order to implement the admission to the Company of each Special Member, each Person acting as an Independent Manager pursuant to
Section 10 shall execute a counterpart to this Agreement. Prior to its admission to the Company as Special Member, each Person acting as an Independent Manager pursuant to Section 10 shall not be a
member of the Company. 

  
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 Section 6. Conversion; Certificates. 

(a) Effective as of the time of the Conversion, (i) the Certificate of Trust and Trust Agreement of the Trust, each as in effect on the
date hereof, are replaced and superseded in their entirety by the Certificate of Formation and this Agreement in respect of all periods beginning on or after the Conversion, (ii) the undivided beneficial interest in the Trust held by NMAC as
sole beneficiary immediately prior to the Conversion is converted to all of the limited liability company interests in the Company, (iii) NMAC, as sole beneficiary of the Trust is hereby automatically admitted as a member of the Company owning
100% of the limited liability company interests in the Company, (iv) the Member continues the business of the Trust without dissolution in the form of a Delaware limited liability company governed by this Agreement, and (v) in accordance
with Section 18-214(g) of the Act, the Company shall constitute a continuation of the existence of the Trust in the form of a Delaware limited liability company and, for all purposes of the laws of the
State of Delaware, the Company shall be deemed to be the same entity as the Trust. All certificates evidencing the beneficial interest in the Trust and outstanding immediately prior to the Conversion shall be surrendered to the Company and shall be
canceled on the books and records of the Trust. The rights, duties and liabilities of the Member, Managers and Officers shall be as provided in the Act, except as otherwise provided in this Agreement. 

(b) Tim Hauck is hereby designated as an “authorized person” within the meaning of the Act, and in such capacity has executed,
delivered and filed the Certificate of Formation of the Company with the Secretary of State of the State of Delaware. Upon the filing of the Certificate of Formation with the Secretary of State of the State of Delaware, their powers as an
“authorized person” ceased, and the Member thereupon became the designated “authorized person” and shall continue as the designated “authorized person” within the meaning of the Act. The Member or an Officer shall
execute, deliver and file any other certificates (and any amendments and/or restatements thereof) necessary for the Company to qualify to do business in any jurisdiction in which the Company may wish to conduct business. 

(c) The existence of the Company as a separate legal entity shall continue until cancellation of the Certificate of Formation as provided in
the Act. 
 Section 7. Purposes. (a) The purpose to be conducted or promoted by the Company is to engage in the following activities: 

 

	 	(i)	 to execute, deliver, enter into and perform (and continue performing) its obligations under the Transaction
Documents to which it is a party or by which it is bound; 

  

	 	(ii)	 to execute, deliver, enter into and perform its obligations under the Titling Company Agreement, and to act as
the member of the Titling Company and to acquire, own, hold and, as permitted under the Titling Company Agreement or the Transaction Documents, dispose of or pledge any Series or Series Interest or other interests in the Titling Company, and cause
any collections allocable to the Company’s interest in the Titling Company to be distributed to or upon the order of the Company; 

  
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	 	(iii)	 subject to compliance with the Titling Company Agreement and the Transaction Documents, to engage in such
activities as may be required to be taken by the Company (including in its capacity as member of the Titling Company) pursuant to the Transaction Documents and the Titling Company Agreement, including directing the allocation of Titling Company
assets to one or more Series and authorizing the issuance of one or more Series Interests, and such other activities that are necessary or appropriate to accomplish the foregoing or that are incidental thereto or connected therewith;

  

	 	(iv)	 to engage in any of the other activities described or authorized in the Titling Company Agreement, any
Transaction Document or any document relating to a Securitized Financing; 

  

	 	(v)	 subject to compliance with the Titling Company Agreement and the Transaction Documents, to engage in such other
activities as may be required in connection with the preservation of the Titling Company assets and directing the making of distributions to or upon the holders or pledgees of any Series; and 

 

	 	(vi)	 to engage in any lawful act or activity and to exercise any powers permitted to limited liability companies
organized under the laws of the State of Delaware that are related or incidental to and necessary, convenient or advisable for the accomplishment of the above-mentioned purposes. 

(b) The Company is hereby authorized to execute, deliver and perform, and any Manager or Officer on behalf of the Company is hereby authorized
to execute and deliver, the Titling Company Agreement, the Transaction Documents and all documents, agreements, certificates, or financing statements contemplated thereby or related thereto, and take all action that may be necessary or desirable in
furtherance of the foregoing, all without any further act, vote or approval of any Member, Manager, Officer or other Person notwithstanding any other provision of this Agreement, the Act or applicable law, rule or regulation. The foregoing
authorization shall not be deemed a restriction on the powers of the Member or any Manager or Officer to enter into other agreements on behalf of the Company. 

Section 8. Powers. 
 Subject to
Section 9(j), the Company, and the Board of Managers and the Officers of the Company on behalf of the Company, (i) shall have and exercise all powers necessary, convenient or incidental to accomplish its purposes as
set forth in Section 7 and (ii) shall have and exercise all of the powers and rights conferred upon limited liability companies formed pursuant to the Act. 

Section 9. Management. 
 (a) Board
of Managers. Subject to Section 9(j), the business and affairs of the Company shall be managed by or under the direction of a Board of one or more Managers designated by the Member. Subject to
Section 10, the Member may determine at any time in its sole and absolute discretion the number of Managers to constitute the Board. The authorized 

  
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number of Managers may be increased or decreased by the Member at any time in its sole and absolute discretion, upon notice to all Managers, and subject in all cases to
Section 10. The initial number of Managers shall be five, two of which shall be Independent Managers pursuant to Section 10. Each Manager elected, designated or appointed by the Member shall hold
office until a successor is elected and qualified or until such Manager’s earlier death, resignation, expulsion or removal. Each Manager shall execute and deliver the Managers’ Agreement. A Manager need not be a Member. As of the date
hereof, the Managers designated by the Member are listed on Schedule D hereto. The Member hereby agrees that only the Board of the Company, the Officers of the Company and authorized agents of the Company shall have the authority to bind the
Company. The Member shall not have any authority to act for or bind the Company by reason of its status as such, but shall have only the right to vote on and approve the actions herein specified to be voted on or approved by the Member. 

(b) Powers. Subject to Section 9(j), the Board of Managers shall have the power to do any and all acts
necessary, convenient or incidental to or for the furtherance of the purposes described herein, including all powers, statutory or otherwise. Subject to Sections 7 and 9, the Board of Managers has the authority to bind the Company.

 (c) Meeting of the Board of Managers. The Board of Managers of the Company may hold meetings, both regular and special, within or
outside the State of Delaware. Regular meetings of the Board may be held without notice at such time and at such place as shall from time to time be determined by the Board. Special meetings of the Board may be called by the President on not less
than one day’s notice to each Manager by telephone, e-mail, mail or any other means of communication, and special meetings shall be called by the President or Secretary in like manner and with like notice
upon the written request of any one or more of the Managers. 
 (d) Quorum; Acts of the Board. At all meetings of
the Board, a majority of the Managers shall constitute a quorum for the transaction of business and, except as otherwise provided in any other provision of this Agreement, the act of a majority of the Managers present at any meeting at which there
is a quorum shall be the act of the Board. If a quorum shall not be present at any meeting of the Board, the Managers present at such meeting may adjourn the meeting from time to time, without notice other than announcement at the meeting, until a
quorum shall be present. Any action required or permitted to be taken at any meeting of the Board or of any committee thereof may be taken without a meeting if all members of the Board or any such committee, as the case may be, consent thereto in
writing other than the Independent Managers unless the consent of the Independent Managers is expressly required hereunder, and the writing or writings are filed with the minutes of proceedings of the Board or such committee, as the case may be.

 (e) Electronic Communications. Members of the Board, or any committee designated by the Board, may participate in meetings of the
Board, or of any committee, by means of telephone or video conference or similar communications equipment that allows all Persons participating in the meeting to hear each other, and such participation in a meeting shall constitute presence in
Person at the meeting. If all the participants are participating by telephone or video conference or similar communications equipment, the meeting shall be deemed to be held at the principal place of business of the Company. 

  
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 (f) Committees of Managers. 

 

	 	(i)	 The Board may, by resolution passed by a majority of the whole Board, designate one or more committees, each
committee to consist of one or more of the Managers of the Company. The Board may designate one or more Managers as alternate members of any committee, who may replace any absent or disqualified member at any meeting of such committee.

  

	 	(ii)	 In the absence or disqualification of a member of a committee, the member or members thereof present at any
meeting and not disqualified from voting, whether or not such members constitute a quorum, may unanimously appoint another member of the Board to act at such meeting in the place of any such absent or disqualified member. 

 

	 	(iii)	 Any such committee of the Board, to the extent provided in the resolution of the Board, and subject to, in all
cases, Sections 9(j) and 10, shall have and may exercise all the powers and authority of the Board in the management of the business and affairs of the Company. Such committee or committees shall have such name or names as may be
determined from time to time by resolution adopted by the Board. Each committee shall keep regular minutes of its meetings and report the same to the Board when required. 

(g) Compensation of Managers; Expenses. The Board shall have the authority to fix the compensation of Managers. The Managers may be paid
their expenses, if any, of attendance at meetings of the Board, which may be a fixed sum for attendance at each meeting of the Board or a stated salary as Manager. No such payment shall preclude any Manager from serving the Company in any other
capacity and receiving compensation therefor. Members of special or standing committees may be allowed like compensation for attending committee meetings. 

(h) Removal of Managers. Unless otherwise restricted by law and subject to Section 10, any Manager or the
entire Board of Managers may be removed or expelled, with or without cause, at any time by the Member, and, subject to Section 10, any vacancy caused by any such removal or expulsion may be filled by action of the Member.

 (i) Managers as Agents. To the extent of their powers set forth in this Agreement and subject to
Section 9(j), the Managers are agents of the Company for the purpose of the Company’s business, and the actions of the Managers taken in accordance with such powers set forth in this Agreement shall bind the Company.
Notwithstanding the last sentence of Section 18-402 of the Act, a Manager may not bind the Company except as provided in this Agreement or in a resolution of the Managers. 

(j) Limitations on the Company’s Activities. 
  

	 	(i)	 This Section 9(j) is being adopted in order to comply with certain provisions
required in order to qualify the Company as a “special purpose” entity. 

  
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	 	(ii)	 The Member shall not, so long as any Obligation is outstanding, amend, alter, change or repeal the definition
of “Independent Manager” or Sections 5(c), 7, 8, 9, 10, 16, 21, 22, 23, 24, 25, 26, 27, 31 or 32 or Schedule A of this
Agreement without the unanimous written consent of the Board (including all Independent Managers). Subject to this Section 9(j), the Member reserves the right to amend, alter, change or repeal any provisions contained in
this Agreement in accordance with Section 32. 

  

	 	(iii)	 Notwithstanding any other provision of this Agreement and any provision of law that otherwise so empowers the
Company, the Member, the Board, any Officer or any other Person, so long as any Obligation is outstanding, neither the Member nor the Board nor any Officer nor any other Person shall be authorized or empowered on behalf of the Company, nor shall
they permit the Company, to, and the Company shall not, without the prior unanimous written consent of the Member and the Board (including all Independent Managers), take any Material Action, provided, however, that so long as any Obligation
is outstanding the Board may not vote on, or authorize the taking of, any Material Action, unless there are at least two Independent Managers then serving in such capacity and all such Independent Managers have consented to such action.

  

	 	(iv)	 The Board shall cause the Company to do or cause to be done all things necessary to preserve and keep in full
force and effect its existence, rights (charter and statutory) and franchises; provided, however, that the Company shall not be required to preserve any such right or franchise if: (1) the Board shall determine that the
preservation thereof is no longer desirable for the conduct of its business and that the loss thereof is not disadvantageous in any material respect to the Company and (2) the Rating Agency Condition is satisfied. The Board also shall cause the
Company to: 

  

	 	(A)	 maintain its own books and records and bank accounts separate from the Member or any other person;

  

	 	(B)	 at all times hold itself out to the public and all other Persons as a legal entity separate from the Member and
any other Person; 

  

	 	(C)	 have a Board of Managers separate from that of the Member and any other Person; 

 

	 	(D)	 file its own tax returns, if any, as may be required under applicable law, to the extent (1) not part of a
consolidated group filing a consolidated return or returns or (2) not treated as a division for tax purposes of another taxpayer, and pay any taxes so required to be paid under applicable law; 

  
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	 	(E)	 except as contemplated by the Transaction Documents or the Titling Company Agreement, not commingle its assets
with assets of the Member or any other Person; 

  

	 	(F)	 conduct its business in its own name and strictly comply with all organizational formalities to maintain its
separate existence; 

  

	 	(G)	 maintain separate financial statements; 

 

	 	(H)	 pay its own liabilities only out of its own funds; 

 

	 	(I)	 maintain an arm’s length relationship with its Affiliates and the Member; 

 

	 	(J)	 pay the salaries of its own employees, if any; 

 

	 	(K)	 not hold out its credit or assets as being available to satisfy the obligations of others;

  

	 	(L)	 to the extent its office is located in the offices of any Affiliate, pay fair market rent for its office space
located therein, and otherwise allocate fairly and reasonably any overhead expenses shared with any Affiliate, and not engage in any business transaction with any Affiliate unless on an arm’s-length
basis; 

  

	 	(M)	 use separate stationery, invoices and checks; 

 

	 	(N)	 except as contemplated by the Transaction Documents or the Titling Company Agreement, not pledge its assets for
the benefit of any other Person, 

  

	 	(O)	 correct any known misunderstanding regarding its separate identity; 

 

	 	(P)	 maintain adequate capital in light of its contemplated business purpose, transactions and liabilities;

  

	 	(Q)	 cause its Board of Managers to meet at least annually or act pursuant to written consent and keep minutes of
such meetings and actions and observe all other Delaware limited liability company formalities; 

  

	 	(R)	 not acquire any securities of the Member; and 

 

	 	(S)	 cause the Managers, Officers, agents and other representatives of the Company to act at all times with respect
to the Company consistently and in furtherance of the foregoing limitations and in the best interests of the Company. 

  
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 Failure of the Company, or the Member or the Board on behalf of the Company, to comply with any of the
foregoing covenants or any other covenants contained in this Agreement shall not affect the status of the Company as a separate legal entity or the limited liability of the Member or the Managers. 

 

	 	(v)	 So long as any Obligation is outstanding, the Board shall not cause or permit the Company to:

  

	 	(A)	 except as contemplated by the Transaction Documents or the Titling Company Agreement, guarantee or become
obligated for the debts of any Person, including any Affiliate; 

  

	 	(B)	 engage, directly or indirectly, in any business other than the actions required or permitted to be performed
under Section 7, the Titling Company Agreement, the Transaction Documents or this Section 9(j); 

  

	 	(C)	 incur, create or assume any indebtedness other than as expressly permitted hereunder and under the Titling
Company Agreement or the Transaction Documents; 

  

	 	(D)	 make or permit to remain outstanding any loan or advance to, or own or acquire any stock or securities of, any
Person (other than the Titling Company or any series thereof), except that the Company may invest in those investments permitted under the Titling Company Agreement or Transaction Documents and may make any advance required or expressly permitted to
be made pursuant to any provisions of the Titling Company Agreement or the Transaction Documents and permit the same to remain outstanding in accordance with such provisions; 

 

	 	(E)	 to the fullest extent permitted by law, engage in any dissolution, liquidation, consolidation, merger, asset
sale or transfer of ownership interests other than such activities as are expressly permitted pursuant to any provision of the Titling Company Agreement or the Transaction Documents; or 

 

	 	(F)	 form, acquire or hold any subsidiary (whether corporate, partnership, limited liability company or other) other
than the Titling Company and any series thereof. 

 Section 10. Independent Managers. 

As long as any Obligation is outstanding, the Member shall cause the Company at all times to have at least two Independent Managers who will be
appointed by the Member. To the fullest extent permitted by law, including Section 18-1101(c) of the Act, the Independent Managers shall consider only the interests of the
Company, including its respective creditors, in acting or otherwise voting on the matters referred to in Section 9(j)(iii). No resignation or 

  
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removal of an Independent Manager, and no appointment of a successor Independent Manager, shall be effective until such successor (i) shall have accepted his or her appointment as an
Independent Manager by a written instrument, which may be a counterpart signature page to the Managers’ Agreement, and (ii) shall have executed a counterpart to this Agreement as required by Section 5(c). In the
event of a vacancy in the position of Independent Manager, the Member shall, as soon as practicable, appoint a successor Independent Manager. Each Independent Manager is a “manager” of the Company within the meaning of the Act;
however, all right, power and authority of the Independent Managers shall be limited to the extent necessary to exercise those rights and perform those duties specifically set forth in this Agreement and the Independent Managers shall
otherwise have no authority to bind the Company. Except as provided in the second sentence of this Section 10, in exercising their rights and performing their duties under this Agreement, any Independent Manager shall have
fiduciary duties identical to those of a director of a business corporation organized under the DGCL. No Independent Manager shall at any time serve as trustee in bankruptcy for any Affiliate of the Company. 

Section 11. Officers. 
 (a)
Officers. The initial Officers of the Company shall be designated by the Member. The additional or successor Officers of the Company shall be chosen by the Board and shall consist of at least a President, a Secretary and a Treasurer. The
Board may also choose one or more Vice Presidents, Assistant Secretaries and Assistant Treasurers. Any number of offices may be held by the same person. The Board may appoint such other Officers and agents as it shall deem necessary or advisable who
shall hold their offices for such terms and shall exercise such powers and perform such duties as shall be determined from time to time by the Board. The salaries of all Officers and agents of the Company shall be fixed by or in the manner
prescribed by the Board. The Officers of the Company shall hold office until their successors are chosen and qualified. Any Officer may be removed at any time, with or without cause, by the affirmative vote of a majority of the Board. Any vacancy
occurring in any office of the Company shall be filled by the Board. As of the date hereof, the Officers of the Company designated by the Member are listed on Schedule E hereto. 

(b) President. The President shall be the chief executive officer of the Company, shall preside at all meetings of the Board, shall be
responsible for the general and active management of the business of the Company and shall see that all orders and resolutions of the Board are carried into effect. The President or any other Officer authorized by the President or the Board shall
execute all bonds, mortgages and other contracts, except: (i) where required or permitted by law or this Agreement to be otherwise signed and executed, including Section 7(b); (ii) where signing and execution thereof
shall be expressly delegated by the Board to some other Officer or agent of the Company; and (iii) as otherwise permitted in Section 11(c). 

(c) Vice President. In the absence of the President or in the event of the President’s inability to act, the Vice President, if any
(or in the event there be more than one Vice President, the Vice Presidents in the order designated by the Board, or in the absence of any designation, then in the order of their election), shall perform the duties of the President, and when so
acting, shall have all the powers of and be subject to all the restrictions imposed upon the President pursuant to this Agreement and the Act. The Vice Presidents, if any, shall perform such other duties and have such other powers as the Board may
from time to time prescribe. 

  
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 (d) Secretary and Assistant Secretary. The Secretary shall be responsible for filing
legal documents and maintaining records for the Company. The Secretary shall attend all meetings of the Board and record all the proceedings of the meetings of the Company and of the Board in a book to be kept for that purpose and shall perform like
duties for the standing committees when required. The Secretary shall give, or shall cause to be given, notice of all meetings of the Member, if any, and special meetings of the Board, and shall perform such other duties as may be prescribed by the
Board or the President, under whose supervision the Secretary shall serve. The Assistant Secretary, or if there be more than one, the Assistant Secretaries in the order determined by the Board (or if there be no such determination, then in order of
their election), shall, in the absence of the Secretary or in the event of the Secretary’s inability to act, perform the duties and exercise the powers of the Secretary and shall perform such other duties and have such other powers as the Board
may from time to time prescribe. 
 (e) Treasurer and Assistant Treasurer. The Treasurer shall have the custody of the Company funds
and securities and shall keep full and accurate accounts of receipts and disbursements in books belonging to the Company and shall deposit all moneys and other valuable effects in the name and to the credit of the Company in such depositories as may
be designated by the Board. The Treasurer shall disburse the funds of the Company as may be ordered by the Board, taking proper vouchers for such disbursements, and shall render to the President and to the Board, at its regular meetings or when the
Board so requires, an account of all of the Treasurer’s transactions and of the financial condition of the Company. The Assistant Treasurer, or if there shall be more than one, the Assistant Treasurers in the order determined by the Board (or
if there be no such determination, then in the order of their election), shall, in the absence of the Treasurer or in the event of the Treasurer’s inability to act, perform the duties and exercise the powers of the Treasurer and shall perform
such other duties and have such other powers as the Board may from time to time prescribe. 
 (f) Officers as Agents. The Officers, to
the extent of their powers set forth in this Agreement or otherwise vested in them by action of the Board not inconsistent with this Agreement, are agents of the Company for the purpose of the Company’s business and, subject to
Section 9(j), the actions of the Officers taken in accordance with such powers shall bind the Company. 
 (g)
Duties of Board and Officers. Except to the extent otherwise provided herein, each Manager and Officer shall have fiduciary duties identical to those of directors and officers of business corporations organized under the DGCL. 

Section 12. Limited Liability. 

Except as otherwise expressly provided by the Act, the debts, obligations and liabilities of the Company, whether arising in contract, tort or
otherwise, shall be the debts, obligations and liabilities solely of the Company, and neither the Member nor the Special Members nor any Manager or Officer shall be obligated personally for any such debt, obligation or liability of the Company
solely by reason of being a Member, Special Member, Manager or Officer of the Company. 

  
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 Section 13. Capital Contributions. 

The Member contributed property to the Company prior to the date of this Agreement and the current value of all property previously contributed
by the Member to the Company is reflected on the books and records of the Member. In accordance with Section 5(c), the Special Members shall not be required to make any capital contributions to the Company. 

Section 14. Additional Contributions. 

The Member is not required to make any additional capital contribution to the Company. However, the Member may make additional capital
contributions to the Company at any time. The provisions of this Agreement, including this Section 14, are intended to benefit the Member and the Special Members and, to the fullest extent permitted by law, shall not be
construed as conferring any benefit upon any creditor of the Company (and no such creditor of the Company shall be a third-party beneficiary of this Agreement) and the Member and the Special Members shall not have any duty or obligation to any
creditor of the Company to make any contribution to the Company or to issue any call for capital pursuant to this Agreement. 
 Section 15.
Allocation of Profits and Losses. 
 The Company’s profits and losses shall be allocated to the Member. 

Section 16. Distributions. 

Distributions may be made to the Member at the times and in the aggregate amounts determined by the Board. Notwithstanding any provision to the
contrary contained in this Agreement, the Company shall not be required to make a distribution to the Member on account of its interest in the Company if such distribution would violate the Act or any other applicable law or any Transaction
Document. 
 Section 17. Books and Records. 

The Board shall keep or cause to be kept complete and accurate books of account and records with respect to the Company’s business. The
books of the Company shall at all times be maintained by the Board. The Member and its duly authorized representatives shall have the right to examine the Company books, records and documents during normal business hours. The Company’s books of
account shall be kept using the method of accounting determined by the Member. The Company’s independent auditor, if any, shall be an independent public accounting firm selected by the Member. 

Section 18. Reports. 
 (a) Within 60
days after the end of each fiscal quarter, the Board shall cause to be prepared an unaudited report setting forth as of the end of such fiscal quarter: 
  

	 	(i)	 unless such quarter is the last fiscal quarter, a balance sheet of the Company; and 

 

	 	(ii)	 unless such quarter is the last fiscal quarter, an income statement of the Company for such fiscal quarter.

  
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 (b) The Board shall use diligent efforts to cause to be prepared and mailed to the Member,
within 90 days after the end of each fiscal year, an audited or unaudited report setting forth as of the end of such fiscal year: 
  

	 	(i)	 a balance sheet of the Company; 

 

	 	(ii)	 an income statement of the Company for such fiscal year; and 

 

	 	(iii)	 a statement of the Member’s capital account. 

(c) The Board shall, after the end of each fiscal year, use reasonable efforts to cause the Company’s independent accountants, if any, to
prepare and transmit to the Member as promptly as possible any such tax information as may be reasonably necessary to enable the Member to prepare its federal, state and local income tax returns relating to such fiscal year. Nothing in this
Section 18 shall limit the Company from hiring a person or company to perform its bookkeeping, accounting or other related services. 

Section 19. Tax Classification. 
 It
is the intention of the Member that the Company be disregarded as an entity separate from the Member for federal income tax purposes under Section 7701 of the Internal Revenue Code of 1986, as amended, and Treasury Regulation Section 301.7701-2(c)(2)(i) for state income tax purposes under any applicable state or local income tax law or regulation and for similar purposes. Notwithstanding any other provision of this Agreement, unless
required by law, no Member shall take any action inconsistent with the classification as a disregarded entity for purposes of Treasury Regulation Section 301.7701-3. 

Section 20. Other Business. 

Notwithstanding any duty otherwise existing at law or in equity, the Member, the Special Members and any Officer, Manager, employee or agent of
the Company and any Affiliate of the Member or the Special Members may engage in or possess an interest in other business ventures (unconnected with the Company) of every kind and description, independently or with others. The Company shall not have
any rights in or to such independent ventures or the income or profits therefrom by virtue of this Agreement. 
 Section 21. Exculpation and
Indemnification. 
 (a) To the fullest extent permitted by applicable law, neither the Member nor the Special Members nor any Officer,
Manager (including any Independent Manager), employee or agent of the Company nor any employee, representative, agent or Affiliate of any of the foregoing (collectively, the “Covered Persons”) shall be liable to the Company or any
other Person bound by this Agreement for any loss, damage or claim incurred by reason of any act or omission performed or omitted by such Covered Person in good faith on behalf of the Company and in a manner reasonably believed to be within the
scope of the authority conferred on such Covered Person by this Agreement, except that a Covered Person shall be liable for any such loss, damage or claim incurred by reason of such Covered Person’s gross negligence or willful misconduct. 

  
 13 

 (b) To the fullest extent permitted by applicable law, a Covered Person shall be entitled to
indemnification from the Company for any loss, damage or claim incurred by such Covered Person by reason of any act or omission performed or omitted by such Covered Person in good faith on behalf of the Company and in a manner reasonably believed to
be within the scope of the authority conferred on such Covered Person by this Agreement, except that no Covered Person shall be entitled to be indemnified in respect of any loss, damage or claim incurred by such Covered Person by reason of such
Covered Person’s gross negligence or willful misconduct with respect to such acts or omissions; provided, however, that any indemnity under this Section 20 by the Company shall be provided out of and to
the extent of Company assets only, and the Member and the Special Members shall not have personal liability on account thereof; and provided further, that so long as any Obligation is outstanding, no indemnity payment from funds of the
Company (as distinct from funds from other sources, such as insurance) of any indemnity under this Section 21 shall be payable from amounts allocable to any other Person pursuant to the Transaction Documents. 

(c) To the fullest extent permitted by applicable law, expenses (including legal fees) incurred by a Covered Person defending any claim,
demand, action, suit or proceeding shall, from time to time, be advanced by the Company prior to the final disposition of such claim, demand, action, suit or proceeding upon receipt by the Company of an undertaking by or on behalf of the Covered
Person to repay such amount if it shall be determined that the Covered Person is not entitled to be indemnified as authorized in this Section 21. 

(d) A Covered Person shall be fully protected in relying in good faith upon the records of the Company and upon such information, opinions,
reports or statements presented to the Company by any Person as to matters the Covered Person reasonably believes are within such other Person’s professional or expert competence and who has been selected with reasonable care by or on behalf of
the Company, including information, opinions, reports or statements as to the value and amount of the assets, liabilities, or any other facts pertinent to the existence and amount of assets from which distributions to the Member might properly be
paid. 
 (e) To the extent that, at law or in equity, a Covered Person has duties (including fiduciary duties) and liabilities relating
thereto to the Company or to any other Covered Person, a Covered Person acting under this Agreement shall not be liable to the Company or to any other Person bound by this Agreement for its good faith reliance on the provisions of this Agreement or
any approval or authorization granted by the Company or any other Covered Person. The provisions of this Agreement, to the extent that they restrict or eliminate the duties and liabilities of a Covered Person to the Company or its Members otherwise
existing at law or in equity, are agreed by the parties hereto to replace such other duties and liabilities of such Covered Person. 
 (f)
The foregoing provisions of this Section 21 shall survive any termination of this Agreement. 

  
 14 

 Section 22. Assignments. 

Subject to Section 24, the Member may assign all of its limited liability company interest in the Company. If the
Member transfers all of its limited liability company interest in the Company pursuant to this Section 22, the transferee shall be admitted to the Company as a member of the Company upon its execution of an instrument
signifying its agreement to be bound by the terms and conditions of this Agreement, which instrument may be a counterpart signature page to this Agreement. Such admission shall be deemed effective immediately prior to the transfer and, immediately
following such admission, the transferor Member shall cease to be a member of the Company. Notwithstanding anything in this Agreement to the contrary, any successor to the Member by merger or consolidation in compliance with the Transaction
Documents shall, without further act, be the Member hereunder, and such merger or consolidation shall not constitute an assignment for purposes of this Agreement and the Company shall continue without dissolution. 

Section 23. Resignation. 
 So long as
any Obligation is outstanding, the Member may not resign, except as permitted under the Transaction Documents and if the Rating Agency Condition is satisfied. If the Member is permitted to resign pursuant to this
Section 23, an additional member of the Company shall be admitted to the Company, subject to Section 24, upon its execution of an instrument signifying its agreement to be bound by the terms and
conditions of this Agreement, which instrument may be a counterpart signature page to this Agreement. Such admission shall be deemed effective immediately prior to the resignation and, immediately following such admission, the resigning Member shall
cease to be a member of the Company. 
 Section 24. Admission of Additional Members. 

One or more additional Members of the Company may be admitted to the Company with the written consent of the Member; provided,
however, that, notwithstanding the foregoing, so long as any Obligation is outstanding, no additional Member may be admitted to the Company unless the Rating Agency Condition is satisfied. 

Section 25. Dissolution. 
 (a)
Subject to Section 9(j) and the following sentence, the Company shall be dissolved, and its affairs shall be wound up upon the first to occur of the following: (i) the termination of the legal existence of the last
remaining member of the Company or the occurrence of any other event which terminates the continued membership of the last remaining member of the Company in the Company unless the Company is continued without dissolution in a manner permitted by
this Agreement or the Act or (ii) the entry of a decree of judicial dissolution of the Company under Section 18-802 of the Act. Upon the occurrence of any event that
causes the last remaining member of the Company to cease to be a member of the Company, or that causes the Member to cease to be a member of the Company (other than upon continuation of the Company without dissolution upon (i) an assignment by
the Member of all of its limited liability company interest in the Company and the admission of the transferee pursuant to Sections 22 and 24, or (ii) the resignation of the Member and the admission of an additional member of the
Company pursuant to Sections 23 and 24), to the fullest extent permitted by law, the personal representative of such member is hereby authorized to, and shall, within 90 days after the occurrence of the event that terminated the
continued membership of such member in the Company, agree in writing (i) to continue the Company and (ii) to the admission of the personal representative or its nominee or designee, as the case may be, as a substitute member of the
Company, effective as of the occurrence of the event that terminated the continued membership of such member in the Company. 

  
 15 

 (b) Notwithstanding any other provision of this Agreement or Section 18-304 of the Act, the Bankruptcy of the Member or a Special Member shall not cause the Member or Special Member, respectively, to cease to be a member of the Company and upon the occurrence of such an
event, the Company shall continue without dissolution. 
 (c) In the event of dissolution, the Company shall conduct only such activities as
are necessary to wind up its affairs (including the sale of the assets of the Company in an orderly manner), and the assets of the Company shall be applied in the manner, and in the order of priority, set forth in
Section 18-804 of the Act. 
 (d) The Company shall terminate when
(i) all of the assets of the Company, after payment of or due provision for all debts, liabilities and obligations of the Company (including all Obligations of the Company), shall have been distributed to the Member in the manner provided for
in this Agreement and (ii) the Certificate of Formation shall have been canceled in the manner required by the Act. 
 Section 26. Waiver of
Partition; Nature of Interest. 
 Except as otherwise expressly provided in this Agreement, to the fullest extent permitted by law, each
of the Member and the Special Members hereby irrevocably waives any right or power that such Person might have to institute any proceeding at law or in equity to cause the dissolution, liquidation, winding up or termination of the Company. The
Member shall not have any interest in any specific assets of the Company, and the Member shall not have the status of a creditor with respect to any distribution pursuant to Section 16 hereof. The interest of the Member in
the Company is personal property. 
 Section 27. Benefits of Agreement; No Third-Party Rights.

 None of the provisions of this Agreement shall be for the benefit of or enforceable by any creditor of the Company or by any creditor of
the Member or a Special Member except for the provisions of Sections 5(c), 7, 9(j), 10, 21(b), 24, 25(a) and (b) and 32 (such provisions the “Third Party Benefit
Provisions”). Nothing in this Agreement other than the Third Party Benefit Provisions shall be deemed to create any right in any Person (other than Covered Persons) not a party hereto, and this Agreement shall not be construed in any
respect to be a contract in whole or in part for the benefit of any third Person (except as provided in Section 30 and except for the Third Party Benefit provisions). 

Section 28. Severability of Provisions. 

Each provision of this Agreement shall be considered severable and if for any reason any provision or provisions herein are determined to be
invalid, unenforceable or illegal under any existing or future law, such invalidity, unenforceability or illegality shall not impair the operation of or affect those portions of this Agreement which are valid, enforceable and legal. 

  
 16 

 Section 29. Entire Agreement. 

This Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof. 

Section 30. Binding Agreement. 

Notwithstanding any other provision of this Agreement, the Member agrees that this Agreement, including, without limitation, Sections
7, 8, 9, 10, 21, 22, 23, 24, 26, 27, 30 and 32, constitutes a legal, valid and binding agreement of the Member, and is enforceable against the Member by the
Independent Managers, in accordance with its terms. In addition, the Independent Managers shall be intended beneficiaries of this Agreement. 

Section 31. Governing Law. 
 This
Agreement shall be governed by and construed under the laws of the State of Delaware (without regard to conflict of laws principles), all rights and remedies being governed by said laws. 

Section 32. Amendments. 
 Subject to
Section 9(j), this Agreement may be modified, altered, supplemented or amended pursuant to a written agreement executed and delivered by the Member. Notwithstanding anything to the contrary in this Agreement, so long as any
Obligation is outstanding, this Agreement (other than Schedule B hereto, which may be amended by the Member without the consent of any other Person) may not be modified, altered, supplemented or amended unless one of the following conditions
has been satisfied: 
  

	 	(i)	 the Member delivers an opinion of counsel to the trustee or other agent for any Securities to the effect that
such amendment will not adversely affect in any material respect the interests of any holder of any such Security who has not consented to such amendment; or 

  

	 	(ii)	 (x) with respect to any Security that is rated, the Rating Agency Condition is satisfied with respect to such
amendment; and 

 (y) with respect to any Security that is not rated, holders of such Security evidencing more than 50% by
outstanding principal amount of such Security have consented to such amendment. 
 Section 33. Counterparts. 

This Agreement may be executed by the parties in any number of counterparts, each of which when so executed and delivered shall be deemed an
original of this Agreement and all of which together shall constitute one and the same instrument. 

  
 17 

 Section 34. Notices. 

Any notices required to be delivered hereunder shall be in writing and personally delivered, mailed or sent by electronic mail or other similar
form of rapid transmission, and shall be deemed to have been duly given upon receipt (a) in the case of the Company, to the Company at its address in Section 2, (b) in the case of the Member, to the Member at its
address as listed on Schedule B attached hereto and (c) in the case of either of the foregoing, at such other address as may be designated by written notice to the other party. 

Section 35. Interpretation. 

Notwithstanding any provision herein to the contrary, all references in this Agreement to Nissan Motor Acceptance Company LLC, a Delaware
limited liability company, shall be deemed to refer to (i) Nissan Motor Acceptance Corporation, a California corporation, for all periods of time prior to the conversion (the “First California Conversion”) of Nissan Motor Acceptance
Corporation, a California corporation, to Nissan Motor Acceptance Company LLC, a California limited liability company, or (ii) Nissan Motor Acceptance Company LLC, a California limited liability company, for all periods of time from the
effective time of the First California Conversion to the effective time of the conversion of Nissan Motor Acceptance Company LLC, a California limited liability company, to Nissan Motor Acceptance Company LLC, a Delaware limited liability company.

  

  
 18 

 IN WITNESS WHEREOF, the undersigned, intending to be legally bound hereby, have duly
executed this Agreement as of the 1 day of April, 2021. 
  

			
	MEMBER:
	
	NISSAN MOTOR ACCEPTANCE COMPANY LLC
		
	By:	 	 /s/ Kevin J. Cullum

	Name: Kevin J. Cullum
	Title:   President

 
	
	INDEPENDENT MANAGERS:
	
	 /s/ Kevin P. Burns

	Name: Kevin P. Burns
	
	 /s/ Cheryl A. Lawrence

	Name: Cheryl A. Lawrence

  

 SCHEDULE A 

Definitions 
 A. Definitions 

When used in this Agreement, the following terms not otherwise defined herein have the following meanings: 

“Act” has the meaning set forth in the preamble to this Agreement. 

“Affiliate” means, with respect to any Person, any other Person directly or indirectly Controlling or Controlled by or under
direct or indirect common Control with such Person. 
 “Agreement” means this Limited Liability Company Agreement of the
Company, together with the schedules attached hereto, as amended, restated or supplemented or otherwise modified from time to time. 

“Bankruptcy” means, with respect to any Person, (A) if such Person (i) makes an assignment for the benefit of
creditors, (ii) files a voluntary petition in bankruptcy, (iii) is adjudged a bankrupt or insolvent, or has entered against it an order for relief, in any bankruptcy or insolvency proceedings, (iv) files a petition or answer seeking
for itself any reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, (v) files an answer or other pleading admitting or failing to contest the material allegations of a
petition filed against it in any proceeding of this nature, or (vi) seeks, consents to or acquiesces in the appointment of a trustee, receiver or liquidator of the Person or of all or any substantial part of its properties, or (B) if 120
days after the commencement of any proceeding against the Person seeking reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, the proceeding has not been dismissed, or if within
90 days after the appointment without such Person’s consent or acquiescence of a trustee, receiver or liquidator of such Person or of all or any substantial part of its properties, the appointment is not vacated or stayed, or within 90 days
after the expiration of any such stay, the appointment is not vacated. The foregoing definition of “Bankruptcy” is intended to replace and shall supersede and replace the definition of “Bankruptcy” set forth in Sections
18-101(1) and 18-304 of the Act. 

“Board” or “Board of Managers” means the Board of Managers of the Company. 

“Certificate of Conversion” has the meaning set forth in the recitals to this Agreement. 

“Certificate of Formation” has the meaning set forth in the recitals to this Agreement. 

“Company” means NILT LLC, a Delaware limited liability company (as successor by conversion to NILT Trust). 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies of a Person, whether through the ownership of voting securities or general partnership or managing member interests, by contract or otherwise. “Controlling” and “Controlled” shall have correlative meanings. Without
limiting the generality of the foregoing, a Person shall be deemed to Control any other Person in which it owns, directly or indirectly, a majority of the ownership interests. 

  
 Sch A-1 

 “Conversion” has the meaning set forth in the recitals to this Agreement.

 “Covered Persons” has the meaning set forth in Section 21(a). 

“Independent Manager” means a natural person who, for the five-year period prior to his or her appointment as Independent
Manager has not been, and during the continuation of his or her service as Independent Manager, is not: (i) an employee, director, contractor, stockholder, partner or officer of the Company or any of its Affiliates (other than his or her
service as an Independent Manager or similar capacity of the Company or any of its Affiliates); (ii) a creditor, customer or supplier of the Company or any of its Affiliates (other than an Independent Manager provided by a corporate services company
that provides Independent Managers in the ordinary course of its business); (iii) any member of the immediate family of a person described in (i) or (ii); or (iv) a direct or indirect legal or beneficial owner in the Company or any of its
Affiliates. 
 “Majority in Interest” means the holders of Securities evidencing more than 50% by outstanding principal
amount of all Securities. 
 “Managers” means the Persons elected to the Board of Managers from time to time by the Member,
including the Independent Managers, in their capacity as managers of the Company. A Manager is hereby designated as a “manager” of the Company within the meaning of
Section 18-101(12) of the Act. 
 “Managers’
Agreement” means the agreement of the Managers in the form attached hereto as Schedule C. The Managers’ Agreement shall be deemed incorporated into, and a part of, this Agreement. 

“Material Action” means to consolidate or merge the Company with or into any Person, or to institute proceedings to have the
Company be adjudicated bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against the Company or file a voluntary bankruptcy petition or any other petition seeking, or consent to, reorganization or relief
with respect to the Company under any applicable federal or state law relating to bankruptcy, or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Company or a substantial part
of its property, or make any assignment for the benefit of creditors of the Company, or admit in writing the Company’s inability to pay its debts generally as they become due, or take action in furtherance of any such action, or, to the fullest
extent permitted by law, dissolve or liquidate the Company. 
 “Member” means Nissan Motor Acceptance Company LLC, as the
initial member of the Company, and includes any Person admitted as an additional member of the Company or a substitute member of the Company pursuant to the provisions of this Agreement, each in its capacity as a member of the Company; provided,
however, the term “Member” shall not include the Special Members. 

  
 Sch A-2 

 “Obligations” shall mean any Securities and the indebtedness, liabilities
and obligations of the Company under or in connection with, the Transaction Documents or any related document in effect as of any date of determination. 

“Officer” means an officer of the Company described in Section 11. 

“Officer’s Certificate” means a certificate signed by any Officer of the Company who is authorized to act for the
Company in matters relating to the Company. 
 “Person” means any individual, corporation, partnership, joint venture,
limited liability company, limited liability partnership, association, joint stock company, trust, unincorporated organization, or other organization, whether or not a legal entity, and any governmental authority. 

“Rating Agency” means any nationally recognized statistical rating organization currently rating any Security. 

“Rating Agency Condition” has, with respect to any Security, the meaning set forth in the Securitized Financing Documents
pursuant to which such Security was issued. 
 “Security” means any security (including an asset-backed note or
asset-backed certificate) or loan the payments on which are derived in any material part or collateralized by from amounts received with respect to assets owned by the Titling Company and/or allocated to any Series thereof. 

“Securitized Financing” has the meaning set forth in the Titling Company Agreement. 

“Securitized Financing Documents” has the meaning set forth in the Titling Company Agreement. 

“Series” or “Series Interest” means a separate series of limited liability company interests in the Titling
Company established and formed pursuant to the Titling Company Agreement, as supplemented by a Series Supplement. 
 “Series
Supplement” has the meaning set forth in the Titling Company Agreement. 
 “Special Member” means, upon such
person’s admission to the Company as a member of the Company pursuant to Section 5(c), a person acting as Independent Manager, in such person’s capacity as a member of the Company. A Special Member shall only have
the rights and duties expressly set forth in this Agreement. 
 “Titling Company” means Nissan-Infiniti LT LLC, a Delaware
limited liability company. 
 “Titling Company Agreement” means the Limited Liability Company Agreement of the Titling
Company dated as of April 1, 2021, among the Company, Nissan Motor Acceptance Company LLC, as Administrator, and U.S. Bank National Association, as Titling Company Registrar, as supplemented by each Series Supplement (as defined therein). 

  
 Sch A-3 

 “Transaction Documents” means any Securitized Financing Document and all
documents and certificates contemplated thereby or delivered in connection therewith. 
 B. Rules of Construction 

Definitions in this Agreement apply equally to both the singular and plural forms of the defined terms. The words “include” and
“including” shall be deemed to be followed by the phrase “without limitation.” The terms “herein,” “hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and
not to any particular Section, paragraph or subdivision. The Section titles appear as a matter of convenience only and shall not affect the interpretation of this Agreement. All Section, paragraph, clause, Exhibit or Schedule references not
attributed to a particular document shall be references to such parts of this Agreement. 

  
 Sch A-4 

 SCHEDULE B 

Member 
  

					
	 Name
	  	 Mailing Address
	  	 Limited Liability

Company
 Interest

			
	 Nissan Motor
 Acceptance Company

LLC
	  	 Nissan Motor Acceptance Company LLC
 One Nissan
Way
 Franklin, Tennessee, 37067
	  	100%

  
 Sch B-1 

 SCHEDULE C 

Managers’ Agreement 

Dated as of April 1, 2021 
 NILT LLC 

One Nissan Way 
 Franklin, Tennessee, 37067 

Re: Managers’ Agreement – NILT LLC 

Ladies and Gentlemen: 
 For good and valuable
consideration, each of the undersigned Persons, who have been designated as managers of NILT LLC, a Delaware limited liability company (the “Company”), in accordance with the Limited Liability Company Agreement of the Company, dated
as of April 1, 2021 (as it may be amended, modified, supplemented or amended and restated from time to time, the “LLC Agreement”), hereby agrees as follows: 

1. Each of the undersigned accepts such Person’s rights and authority as a Manager under the LLC Agreement and agrees to perform and
discharge such Person’s duties and obligations as a Manager under the LLC Agreement, and further agrees that such rights, authorities, duties and obligations under the LLC Agreement shall continue until such Person’s successor as a Manager
is designated or until such Person’s resignation or removal as a Manager in accordance with the LLC Agreement. Each of the undersigned agrees and acknowledges that it has been designated as a “manager” of the Company within the
meaning of the Delaware Limited Liability Company Act. 
 2. So long as any Obligation is outstanding, each of the undersigned agrees, solely
in its capacity as a creditor of the Company on account of any indemnification or other payment owing to the undersigned by the Company, not to acquiesce, petition or otherwise invoke or cause the Company to invoke the process of any court or
governmental authority for the purpose of commencing or sustaining an involuntary case against the Company under any federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian,
sequestrator or other similar official of the Company or any substantial part of the property of the Company, or ordering the winding up or liquidation of the affairs of the Company. 

3. THIS MANAGERS’ AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, AND ALL RIGHTS AND
REMEDIES SHALL BE GOVERNED BY SUCH LAWS WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS. 
 Capitalized terms used and not otherwise
defined herein have the meanings set forth in the LLC Agreement. 

  
 Sch C-1 

 This Managers’ Agreement may be executed in any number of counterparts, each of which
shall be deemed an original of this Managers’ Agreement and all of which together shall constitute one and the same instrument. 

[The remainder of this page has been intentionally left blank.] 

  
 Sch C-2 

 IN WITNESS WHEREOF, the undersigned have executed this Managers’ Agreement as of the
day and year first above written. 
  

	
	MANAGERS:
	
	  

	Kevin J. Cullum
	
	  

	Victor Pausin
	
	  

	Ryan L. Nelson
	
	  

	Kevin P. Burns, Independent Manager
	
	  

	Cheryl A. Lawrence, Independent Manager

  
 Sch C-3 

 SCHEDULE D 

Managers 
 1. Kevin J. Cullum 

2. Victor Pausin 
 3. Ryan L. Nelson 

4. Kevin P. Burns 
 5. Cheryl A. Lawrence 

  
 Sch E-1 

 SCHEDULE E 

Officers 
  

			
	 Officer
	  	 Title

		
	Kevin J. Cullum	  	President and Chairman of the Board
		
	Jim DeTrude	  	Vice President
		
	Victor Pausin	  	Treasurer
		
	Douglas E. Gwin, Jr.	  	Assistant Treasurer
		
	David R. Killinger, Jr.	  	Assistant Treasurer
		
	Sean O’Hara	  	Assistant Treasurer
		
	Ryan L. Nelson	  	Secretary
		
	Timothy Hauck	  	Assistant Secretary

  
 Sch E-2Exhibit
10.1

 

LIMITED WAIVER AND AMENDMENT
AGREEMENT

 

This Limited Waiver
and Amendment Agreement (this “Agreement”), dated as of March 31, 2021 (the “Effective Date”), is
entered into by and among NYM Holding, Inc., a Delaware corporation (the “Borrower”), iFresh, Inc., a Delaware corporation
(“iFresh”), New York Mart 8 Ave., Inc., a New York corporation (“NYM8”), New York Mart East Broadway
Inc., a New York corporation (“NYM E. Broadway”), New York Supermarket East Broadway Inc., a New York corporation (“NYS
E. Broadway”), New York Mart Group Inc., a New York corporation (“NYMG”), Ming’s Supermarket, Inc.,
a Massachusetts corporation (“Ming’s”), New York Mart Mott St., Inc., a New York corporation (“Mott”),
New York Mart Roosevelt, Inc., a New York corporation (“Roosevelt”), New York Mart Sunrise, Inc., a Florida corporation
(“Sunrise”), Zen Mkt Quincy, Inc., a Massachusetts corporation (“Zen”), Strong America Limited,
a New York corporation (“Strong America”), iFresh E. Colonial Inc., a Florida corporation (“E Colonial”),
iFresh Glen Cove Inc., a New York corporation (“Glen Cove”), iFresh Bellaire, Inc., a Texas corporation (“Bellaire”),
New York Mart Ave U 2nd Inc., a New York corporation (“Ave U”), New York Mart CT, Inc., a Connecticut corporation
(“CT”), New York Mart N. Miami Inc., a Florida corporation (“Miami”), NYM Milford, LLC, a Connecticut
limited liability company (“NYM Milford”), Go Fresh 365, Inc., a Florida corporation (the “Go Fresh”),
and Long Deng, an adult individual (“Mr. Deng” and collectively with iFresh, NYM8, NYM E. Broadway, NYS E. Broadway,
NYMG, Ming’s, Mott, Roosevelt, Sunrise, Zen, Strong America, E Colonial, Glen Cove, Bellaire, Ave U, CT, Miami, NYM Milford, and
Go Fresh, the “Guarantors”), and KeyBank National Association, a national banking association (the “Lender”),
and acknowledged and consented to by Dengrong Zhou, an adult individual, subject to the terms and conditions of that certain Stipulation
and [Proposed] Order Governing the Withdrawal of Defendants’ Emergency Motion for Amendment of Status Quo Order filed in Case No.
2021-0026-JRS pending before the Court of Chancery of the Status of Delaware (the “Stipulation”). The Borrower and
the Guarantors are sometimes referred to herein as collectively, the “Loan Parties” and individually, each a “Loan
Party.”

 

BACKGROUND

 

A.
The Borrower and the Lender are parties to that certain Credit Agreement, dated as of December 23, 2016, as amended by that certain Waiver
and First Amendment to Credit Agreement dated February 16, 2017, that certain Waiver and Second Amendment to Credit Agreement dated March
21, 2017, that certain Third Amendment to Credit Agreement dated April 20, 2017, that certain Fourth Amendment to Credit Agreement dated
May 19, 2017, that certain Fifth Amendment to Credit Agreement dated July 13, 2017, that certain Waiver and Sixth Amendment to Credit
Agreement dated April 5, 2018, that certain Forbearance and Amendment Agreement, dated May 20, 2019, and that certain Second Forbearance
and Amendment Agreement, dated October 15, 2019 (as so amended, the “Credit Agreement”), pursuant to which the Lender
made available to the Borrower a revolving credit facility, a term loan facility, and other credit accommodations. Capitalized terms
used but not defined herein have the meanings given to them in the Credit Agreement.

 

     

     

    

 

B. NYM8,
NYM E. Broadway, NYS E. Broadway, NYMG, Ming’s, Mott, Roosevelt, Sunrise, Zen, and Strong America executed that certain Guaranty
Agreement, dated as of December 26, 2016, in favor of the Lender (as amended, the “Guaranty”), pursuant to which each
such Guarantor agreed to jointly and severally unconditionally guaranty the prompt payment and performance of the Obligations of the Borrower.

 

C. Pursuant
to that certain Joinder Agreement, dated February 27, 2017, executed by iFresh in favor of the Lender, iFresh became a party to the Guaranty
(the “iFresh Joinder”).

 

D. Pursuant
to that certain Joinder Agreement, dated July 13, 2017, executed by E Colonial in favor of the Lender, E Colonial became a party to the
Guaranty.

 

E. Pursuant
to that certain Joinder Agreement, dated July 13, 2017, executed by Glen Cove in favor of the Lender, Glen Cove became a party to the
Guaranty.

 

F. Pursuant
to that certain Joinder Agreement, dated October 4, 2017, executed by Ave U, CT, and Miami in favor of the Lender, Ave U, CT, and Miami
became a parties to the Guaranty.

 

G. Pursuant
to that certain Joinder Agreement, dated May 3, 2018, executed by Bellaire in favor of the Lender, Bellaire became a party to the Guaranty.

 

H. Events
of Default have occurred and are continuing under the Credit Agreement and other Loan Documents by reason of the Borrower’s failure
to maintain (a) a Senior Funded Debt to EBITDA of not greater than 3.00 to 1.00 for the quarters ending March 31, 2018, June 30, 2018,
September 30, 2018, December 31, 2018, March 31, 2019, June 30, 2019, September 30, 2019, December 31, 2019, March 31, 2019, June 30,
2020, September 30, 2020, and December 31, 2020, and (b) a Fixed Charge Coverage Ratio of not less than 1.10 to 1.00 for the quarters
ending September 30, 2018, December 31, 2018, March 31, 2019, June 30, 2019, September 30, 2019, December 31, 2019, March 31, 2019, June
30, 2020, September 30, 2020, and December 31, 2020 (collectively, the “Financial Covenant Events of Default”).

 

I. By
letter dated February 7, 2019, the Lender notified the Borrower and the existing Guarantors of the occurrence and the continuance of the
Financial Covenant Events of Default existing at such time.

 

J. Additional
Events of Default have occurred and are continuing under the Credit Agreement and other Loan Documents by reason of Mr. Deng no longer
indirectly beneficially owning and controlling more than 51% of the equity interests in the Borrower by reason of the purchase by HK Xu
Ding Co. Limited, a Hong Kong limited liability company, of an aggregate of 51% of the total issued and outstanding shares of iFresh from
Mr. Deng (the “Change in Control Event of Default”).

 

K. By
letter dated February 14, 2019, the Lender notified the Borrower and the existing Guarantors of the occurrence and the continuance of
the Change in Control Event of Default.

 

L. An
additional Event of Default occurred under the Credit Agreement and other Loan Documents by reason of Voice Road Plaza, LLC obtaining
a judgment against NYMG and/or iFresh in the amount of $207,974.78 and, in connection therewith,
issuing execution against the Borrower’s deposit account maintained with the Lender (the “Judgment Event of Default”).

 

    	 	- 2 -	 

     

    

 

M. The
Borrower and the existing Guarantors requested that the Lender forbear for a limited period of time from exercising its rights and remedies
under the Loan Documents, at law, and in equity based on the Judgment Event of Default, the Change in Control Event of Default, and the
Financial Covenant Events of Default existing at such time.

 

N. The
Lender agreed to do so under the terms of, and subject to the conditions set forth in, that certain Forbearance and Amendment Agreement,
dated May 20, 2019 (the “First Forbearance Agreement”).

 

O. Under
the First Forbearance Agreement, the Lender’s agreement to forbear in the exercise of its rights and remedies under the Loan Documents,
at law, and in equity based on the Specified Events of Default expired pursuant to its terms at 5:00 p.m. prevailing Eastern Time on August
18, 2019.

 

P. The
Loan Parties requested that the Lender continue to forbear for a limited period of time from exercising its rights and remedies under
the Loan Documents, at law, and in equity based on the Judgment Event of Default, the Change in Control Event of Default, and the Financial
Covenant Events of Default existing at such time.

 

Q. The
Loan Parties further requested that the Lender provide its prior written consent to iFresh selling all of the equity interests of the
Borrower (the “NYM Stock”) to Go Fresh (such sale, the “NYM Stock Sale”) and, in connection with
the NYM Stock Sale, (i) permit the proceeds of such sale to be received and retained by iFresh free and clear of any Lien of the Lender
on or in such proceeds and (ii) remove iFresh as a party to the Guaranty, the Pledge Agreement, and each other Loan Document to which
iFresh is a party, including, without limitation, the iFresh Joinder (together, the “iFresh Request”).

 

R. The
Lender agreed to do so under the terms of, and subject to the conditions set forth in, that certain Second Forbearance and Amendment Agreement,
dated October 15, 2019 (the “Second Forbearance Agreement”).

 

 S. The NYM Stock Sale did not occur.

 

T. By
letter dated December 3, 2019, the Lender notified the Loan Parties that the Lender’s agreement under the Second Forbearance Agreement
to forbear in the exercise of its rights and remedies under the Loan Documents, at law, and in equity based on the Judgment Event of Default,
the Change in Control Event of Default, and the Financial Covenant Events of Default existing at such time expired pursuant to its terms
at 5:00 p.m. prevailing Eastern Time on November 29, 2019.

 

U. By
letter dated January 21, 2020, the Lender notified the Loan Parties that, effective as of the date of the letter, interest would accrue
on the Loans at the Default Rate.

 

    	 	- 3 -	 

     

    

 

V. Additional Events of
Default have occurred and are continuing under the Credit Agreement and other Loan Documents by reason of (collectively, the “Payment
Events of Default”): (a) the Borrower’s failure to make its regularly scheduled monthly interest payments
with respect to the Revolving Loans as and when due and payable on January 1, 2020 and the same date of each calendar month thereafter
through and including February 1, 2021; (b) the Borrower’s failure to make its regularly scheduled monthly principal and interest
payments with respect to the Effective Date Term Loan as and when due and payable on January 1, 2020 and the same date of each calendar
month thereafter through and including February 1, 2021; (c) the Borrower’s failure to make its regularly scheduled monthly principal
and interest payments with respect to the first Delayed Draw Term Loan under the Delayed Draw Term Loan Facility as and when due and
payable on March 1, 2020 and the same date of each calendar month thereafter through and including February 1, 2021; and (d) the Borrower’s
failure to make its regularly scheduled monthly principal and interest payments with respect to the second Delayed Draw Term Loan under
the Delayed Draw Term Loan Facility as and when due and payable on January 1, 2020 and the same date of each calendar month thereafter
through and including February 1, 2021.

 

W. Additional
Events of Default have occurred and are continuing under the Credit Agreement and other Loan Documents by reason of (collectively, the
“iFresh Events of Default” and collectively with the Payment Events of Default, the Change in Control Event of Default,
the Judgment Event of Default, and the Financial Covenant Events of Default, the “Specified Events of Default”): iFresh
engaging in businesses and activities and owning assets other than holding 100% of the equity interests of NYM due to iFresh becoming
the holder of (collectively, the “New Subsidiaries”): (i) 100% of the equity interests in Hubei Rongentang Wine Co.,
Ltd., a PRC company, (ii) 100% of the equity interests in Rongentang Herbal Wine Co., Ltd., a PRC company, and (iii) 70% of the equity
interests in Xiamen DL Medical Technology Co, Ltd., a PRC company.

 

X. By
letter dated June 5, 2020, the Lender notified the Loan Parties of the occurrence and the continuance of the Specified Events of Default
existing at such time.

 

Y. By
letter dated October 8, 2020, the Lender notified the Loan Parties of the occurrence and the continuance of the Specified Events of Default
existing at such time, accelerated the maturity of the Obligations, and demanded immediate payment in full of the Obligations.

 

Z. By
certain instruction letters dated October 9, 2020, the Lender exercised its rights and remedies under certain deposit account control
agreements entered into among the Lender, certain Loan Parties, and Amerasia Bank (the “Depository Bank”) to take control
of the deposit accounts of such Loan Parties with the Depository Bank and direct the Depository Bank to remit any funds on deposit in
such deposit accounts to the Lender for application to and against the outstanding Obligations.

 

AA. The Loan Parties
have requested that the Lender (a) provide a limited waiver with respect to the Specified Events of Default; and (b) amend the terms of
the Credit Agreement and other Loan Documents in certain respects.

 

BB. The Lender
has agreed to do so under the terms of, and subject to the conditions set forth in, this Agreement.

 

    	 	- 4 -	 

     

    

 

Accordingly, the Loan Parties and the Lender,
each intending to be legally bound hereby, agree as follows:

 

Section 1 - ACKNOWLEDGMENTS
AND REAFFIRMATIONS

 

1.1 Acknowledgments.
To induce the Lender to enter into this Agreement, the Loan Parties acknowledge and agree that: (a) the Loan Documents are legal, valid,
and binding obligations of, and enforceable in accordance with their respective terms against, the Loan Parties who are a party thereto;
(b) the Liens on and security interests in the Collateral in favor of the Lender are valid, legal, binding, and properly perfected and
are reaffirmed and ratified in all respects, and nothing contained herein is intended to alter the priority of, or terminate any, Lien
on or security interest in any Collateral in favor of the Lender; (c) the Specified Events of Default have occurred, have not been and
cannot be cured, are continuing, and are material in nature; (d) to the extent that any of the Loan Documents require notification to
the Loan Parties or any other person of the existence of the Specified Events of Default or an opportunity to cure the Specified Events
of Default, such notice or period for cure were properly given or are hereby waived by the Loan Parties; (e) by reason of the occurrence
and continuance of the Specified Events of Default, the Lender is presently entitled to exercise any and all of its rights and remedies
under the Loan Documents, at law, and in equity; (f) the Loan Parties do not have any rights of offset, defenses, claims, or counterclaims
under any Loan Document, at law, or in equity with respect to any of the Loans or any other Obligations of the Loan Parties under the
Loan Documents, all of which are valid and outstanding Obligations of the Loan Parties; (g) except as expressly provided herein, nothing
contained herein extinguishes, discharges, or releases any of the Obligations or any Loan Document or constitutes an accord, satisfaction,
novation, or substitution of any of the Obligations or any Loan Document; (h) the Loan Parties have been represented (or had the opportunity
to be represented) by the legal counsel of the Loan Parties’ choice, understand and are fully aware of the terms and conditions
contained in this Agreement, and have voluntarily, without coercion or duress of any kind, entered into this Agreement; and (i) the Background
section of this Agreement is true and correct in all respects and is hereby incorporated into the text of this Agreement.

 

1.2 Acknowledgment
of Obligations. The Loan Parties and the Lender hereby agree that, as of March 19, 2021, the principal and accrued and unpaid interest
at the Stated Rate outstanding under the Loan Documents are as follows:

 

	 	 	Principal	 	 	Accrued and Unpaid Interest

 at the Stated Rate	 
	 	 	 	 	 	 	 
	Revolving Loans	 	$	11,408,188.67	 	 	$	383,212.22	 
	 	 	 	 	 	 	 	 	 
	Effective Date Term Loan	 	$	4,275,363.80	 	 	$	283,202.49	 
	 	 	 	 	 	 	 	 	 
	Delayed Draw Term Loan	 	$	777,899.66	 	 	$	38,687.55	 

 

1.3 Collateral.
The Loan Parties ratify, reaffirm, and confirm all of the Obligations and agree that the Liens on and security interests in the Collateral
granted to the Lender under the Loan Documents shall continue in full force and effect as security for all Obligations.

 

    	 	- 5 -	 

     

    

 

Section 2 - LIMITED WAIVER

 

2.1 Limited
Waiver. Subject to the other terms and conditions of this Agreement, the Lender hereby provides a limited waiver of the Specified
Events of Default, the accrued and unpaid interest at the Default Rate outstanding as of the Effective Date, and the accrued and unpaid
reimbursable fees and costs of the Lender outstanding as of the Effective Date; provided, however, that such limited waiver shall only
become effective upon the Lender’s timely receipt of the Deng Payment (as hereinafter defined). The limited waiver provided for
herein (a) is specifically limited to its express terms, (b) is a one-time accommodation, and (c) does not, and will not be construed
or deemed to, (i) excuse any Loan Party’s future performance of any terms or conditions of the Credit Agreement or other Loan Documents;
(ii) operate as a waiver of, or a consent to a modification or alteration of, any other terms or conditions of the Credit Agreement or
other Loan Documents; (iii) obligate or commit the Lender to agree to any additional waivers under the Credit Agreement or other Loan
Documents; or (iv) evidence of any course of dealing by the Lender. For the avoidance of doubt, the Lender hereby waives all known and
identified Specified Events of Default and will not seek recourse for such known and identified Specified Events of Default.

 

2.2 Deposit
Accounts. Promptly after the Effective Date, the Lender shall send letters to the Depository Bank instructing the Depository Bank
to return control of the deposit accounts of the Loan Parties with the Depository Bank to the Loan Parties and cease remitting any funds
on deposit in such deposit accounts to the Lender for application to and against the outstanding Obligations.

 

Section 3 - RELEASE

 

3.1 Release
by the Loan Parties. Each Loan Party, on behalf of itself/himself, its/his predecessors, successors, assigns, heirs, executors, trustees,
administrators, agents, and other legal representatives, and any Person claiming by or through such Loan Party (collectively, the “Releasors”),
hereby unconditionally remises, releases, waives, satisfies, acquits, and forever discharges the Lender and its present, former, and future
parents, predecessors, successors, assigns, assignees, affiliates, subsidiaries, divisions, departments, subdivisions, owners, partners,
principals, trustees, creditors, shareholders, joint ventures, co-venturers, officers and directors (whether acting in such capacity or
individually), attorneys, vendors, accountants, nominees, agents (alleged, apparent, or actual), representatives, employees, managers,
administrators, loan servicers, asset managers, each Person acting or purporting to act for them or on their behalf, and the successors
and assigns of any such Persons, as releasees (collectively, the “Releasees”), of and from any and all manner of actions,
causes of action, suits, debts, dues, accounts, bonds, covenants, contracts, agreements, promises, warranties, guaranties, representations,
liens, mechanics’ liens, judgments, claims, counterclaims, crossclaims, defenses, costs, losses, demands, and/or liabilities whatsoever,
including claims for contribution and/or indemnity, whether now known or unknown, past or present, asserted or unasserted, contingent
or liquidated, at law or in equity, if any, which any of Releasors ever had, may have, or now have against any of the Releasees, for or
by reason of any cause, matter, or thing whatsoever, arising from the beginning of time to the Effective Date (collectively, “Claims”),
including, without limitation, any and all Claims that in any way arise out of, are connected to, are related to, or are in any manner
incidental to the dealings or relationships between the Releasors and Releasees related to the Loan Documents,
the transactions contemplated thereby, or any actions or omissions in connection therewith. The foregoing release will be construed in
the broadest sense possible.

 

    	 	- 6 -	 

     

    

 

The Loan
Parties warrant and represent that they are the sole and lawful owners of all right, title, and interest in and to every Claim being released
hereby and they have not assigned, pledged, hypothecated, or otherwise divested or encumbered all or any part of any Claim being released
hereby. The Loan Parties hereby agree to indemnify, defend, and hold harmless any and all of the Releasees from and against any Claims
asserted against any Releasee based on, or arising in connection with, any such prior assignment or transfer, whether actual or purported.
The Loan Parties hereby absolutely, unconditionally, and irrevocably agree never to commence, prosecute, cause to be commenced or prosecuted,
voluntarily aid in any way, or foment any suit, action, or other proceeding (at law, in equity, in any regulatory proceeding, or otherwise)
or otherwise seek any recovery against any of the Releasees based on any of the Claims being released hereby. The Loan Parties hereby
specifically warrant, represent, acknowledge, and agree that: (a) none of the provisions of this general release shall be construed as
or constitute an admission of any liability on the part of any Releasee; (b) the provisions of this general release shall constitute an
absolute bar to any Claim of any kind, whether any such Claim is based on contract, tort, warranty, mistake, or any other theory, whether
legal, statutory, or equitable; and (c) any attempt to assert a Claim barred by the provisions of this general release shall subject each
Loan Party to the provisions of applicable law setting forth the remedies for the bringing of groundless, frivolous, or baseless claims
or causes of action, and each Loan Party hereby agrees to pay, in addition to such other damages as any Releasee may recover as a result
of any such attempt, all attorneys’ fees and costs incurred by any Releasee as a result of any such attempt.

 

Section 4 - AMENDMENTS

 

Notwithstanding
anything to the contrary contained in the Credit Agreement or any other Loan Document, the Loan Parties and the Lender hereby agree, and
the Credit Agreement and other Loan Documents are hereby amended and modified, as follows:

 

4.1 Availability
of Loans. The Lender shall be under no obligation to make any additional Advance or other Loan, issue or amend any Letter of Credit,
or otherwise extend additional credit to, or for the benefit of, the Loan Parties pursuant to the Loan Documents.

 

4.2 Revocation
of Conditional Limited Consent to NYM Stock Sale. The Lender hereby revokes its prior conditional limited consent to iFresh consummating
the sale of the NYM Stock to Go Fresh.

 

4.3 Payment
of Obligations. Commencing on April 1, 2021 and continuing on the first day of each calendar month thereafter, outstanding principal
under the Loans shall be due and payable in equal monthly installments of $50,000.00. Commencing on April 1, 2021 and continuing on the
first day of each calendar month thereafter, accrued and unpaid interest on the Loans shall be due and payable. The Loan Parties shall
make all such payments (a) as and when due and payable, (b) in the full amounts and at the interest rates required under the Loan Documents;
and (c) in immediately available funds.

 

    	 	- 7 -	 

     

    

 

4.4 Interest
Rate. On and following the Effective Date, interest shall accrue on the Loans at the Stated Rate (and not the Default Rate).

 

4.5 Maturity
Date. All Obligations shall mature and be due and payable in full on December 31, 2021.

 

4.6
Guaranty Termination. Mr. Deng and the Lender are parties to that certain Limited Guaranty Agreement, dated May 20, 2019 (the
“Deng Guaranty”). Subject to the terms and conditions of this Agreement, the Lender shall accept $2,000,000.00 paid
in immediately available funds (the “Payment Amount”) as payment in full of the Guaranteed Obligations (as defined
in the Deng Guaranty) owed by Mr. Deng to the Lender under the Deng Guaranty; provided that (a) $1,000,000.00 of the Payment Amount is
paid on or before April 7, 2021 (the “Deng Payment”); and $1,000,000.00 of the Payment Amount is paid on or before
September 30, 2021. Provided that the Payment Amount is timely paid in full, the Guaranteed Obligations will be paid and satisfied in
full, and the Deng Guaranty shall terminate pursuant to Section 6.7 thereof, and subject to Section 2.7 thereof, Mr. Deng shall have
no further obligations, duties, or liabilities thereunder. Each installment of the Payment Amount shall be paid either (a) directly by
Mr. Deng from his personal funds; or (b) by iFresh after receipt of an equity contribution or unsecured subordinated indebtedness in
an amount equal to such installment from Mr. Deng from his personal funds. The Loan Parties shall provide the Lender with reasonable
evidence of the source of any installment payment of the Payment Amount. The Lender shall apply the Payment Amount to the Obligations
as follows: (a) first, to accrued, unpaid, and past due interest at the Stated Rate, if any; (b) second, to past due principal payments,
if any; and (c) finally, to the outstanding principal balance of the Loans in such order and manner as determined by the Lender in its
sole discretion.

 

4.7 Mandatory
Prepayments. In addition to any other mandatory prepayments of the Obligations required under the Credit Agreement and other Loan
Documents, upon receipt by iFresh of any equity contribution (other than in connection with the Payment Amount), iFresh shall pay fifty
percent (50%) of the amount of such equity contribution to the Lender for application to and against the outstanding principal balance
of the Loans in such order and manner as determined by the Lender in its sole discretion.

 

 4.8 Reporting Requirements.

 

a. The
Borrower shall deliver or cause to be delivered to the Lender as soon as available and in any event within forty-five (45) days after
the end of each calendar month, internally prepared consolidated or consolidating balance sheets (as applicable) and related consolidated
or consolidating statements of income (as applicable) of the Loan Parties (excluding Mr. Deng), on a month-to-date and year-to-date basis,
for the portion of the Fiscal Year ending as of the end of such prior calendar month, which financial statements shall be prepared by
the Loan Parties’ management and accompanied by (i) a certificate of a Certifying Officer that such financial statements have been
prepared in accordance with GAAP and are correct subject only to normal year end audit adjustments and the absence of footnotes and (ii)
a certificate of a Certifying Officer that such officer has caused the provisions of the Credit Agreement and other Loan Documents to
be reviewed and has no knowledge of any Default or if such Certifying Officer has such knowledge, specifying such Default and the nature
thereof and what action the Loan Parties have taken, are taking, or propose to take with respect thereto.

 

    	 	- 8 -	 

     

    

 

b. On
every Thursday of every other calendar week, the Borrower shall deliver, or shall cause to be delivered, to the Lender a rolling thirteen-week
cash flow projection in form reasonably acceptable to the Lender, which reports actual cash flows versus projection, and projects on
a weekly basis cash revenue, receipts, expenses, and disbursements, of the Loan Parties (excluding Mr. Deng) (all of the foregoing documentation
and information, collectively, the “Cash Flow Projection”). Each Cash Flow Projection shall be shall be prepared
by the Borrower’s management and certified by of a Certifying Officer. If requested by the Lender, the Loan Parties shall have
a telephone conference call with the Lender, during which the Loan Parties shall provide to the Lender a detailed oral report comparing
actual weekly cash receipts and expenditures to the Cash Flow Projection for the preceding week, explaining any percentage variance of
actual weekly cash receipts and expenditures from those set forth on the Cash Flow Projection, and providing such other details and information
as may be reasonably requested by the Lender.

 

4.9 Business
Valuation. At the sole cost and expense of the Lender, the Loan Parties shall permit the Lender, or a third party on the Lender’s
behalf, to conduct a valuation of the Loan Parties’ businesses, cooperate in the conducting of such valuation, and provide all information
reasonably requested by or on behalf of the Lender in connection with such valuation. The Loan Parties hereby authorize the Lender or
any such third party to communicate directly with the Loan Parties’ directors, officers, employees, and other representatives regarding
the Loan Parties’ affairs, finances, condition, prospects, and any other matters relevant to such valuation.

 

4.10 Joinder
of Subsidiaries. If any Loan Party intends to form or acquire any new Subsidiary after the Effective Date, such Loan Party shall obtain
the prior written consent of the Lender, which consent shall not be unreasonably conditioned, withheld, delayed, or denied. The Lender
shall grant or deny such consent within five (5) days following receipt of a written request for such consent from the Loan Parties, provided
the Loan Parties have provided the Lender with all information reasonably requested by the Lender, including, without limitation, financial
information, related to such proposed new Subsidiary. If any Loan Party forms or acquires any new Subsidiary after the Effective Date,
such new Subsidiary shall be deemed to have automatically joined in, and become a party to, the Guaranty as a “Guarantor”
and assumed all of the Obligations of a “Guarantor” under the Guaranty. Thereafter, such new Subsidiary shall perform, comply
with, and be subject to, bound by, and jointly and severally liable for all of the terms, conditions, and covenants of, and all other
Obligations under, the Guaranty to the same extent as if it were an original signatory to such Loan Documents. The Loan Parties shall
cause any such new Subsidiary to enter into any agreements, instruments, or documents reasonably requested by the Lender to effectuate
the substance and intent of this Agreement; provided, however, that no such agreements, instruments, or documents need be entered into
for this Agreement to have its full force and effect.

 

Section 5 - REPRESENTATIONS
AND WARRANTIES

 

To induce the Lender to enter into this Agreement and as partial consideration
for the terms and conditions contained herein, the Loan Parties represent and warrant to the Lender that as of the Effective Date:

 

    	 	- 9 -	 

     

    

 

5.1 Organization
and Authority. Each Loan Party (excluding Mr. Deng) is duly organized, validly existing, and in good standing under the laws of the
state of its organization and has the right, power and authority and has taken all necessary corporate or other organizational action
to duly authorize the execution, delivery, and performance of this Agreement and any Loan Document executed in connection herewith.

 

5.2 Other
Consents. No authority, permit, consent, waiver, approval, or other authorization of or other action by, notice to, or filing, registration
or declaration of or with any Governmental Authority or other Person is required in connection with the execution, delivery, and performance
of or compliance with this Agreement.

 

5.3 No
Conflict. The execution and delivery of this Agreement will not conflict with, or result in a breach of, (a) the terms, conditions,
or provisions of the organizational documents of any Loan Party (excluding Mr. Deng); (b) any applicable law; or (c) any material agreement,
instrument, order, writ, judgment, injunction, or decree to which a Loan Party is a party or by which it is bound or to which it is subject,
or will result in the creation or enforcement of any Lien whatsoever upon any property, whether now owned or hereafter acquired, of a
Loan Party.

 

5.4 Valid
and Binding Agreement. Each Loan Party has duly entered into this Agreement, and this Agreement is a legal, valid, and binding obligation
of and enforceable in accordance with its terms against each Loan Party.

 

5.5 Compliance
with Laws. Each Loan Party is in material compliance with, and its respective properties, business operations, and leaseholds are
in material compliance with, all laws applicable to such Loan Party, its properties, and the conduct of its businesses.

 

5.6 No
Untrue or Misleading Statements. Neither this Agreement nor any document, certificate, or statement furnished or to be furnished by
on or behalf of any Loan Party to Lender in connection with this Agreement or any other Loan Document contains or at the time of delivery
will contain any untrue statement of a material fact. There is no fact known to a Loan Party which with the giving of notice, the passage
of time, or both would be reasonably expected to have a Material Adverse Effect on the Loan Parties.

 

5.7 No
Default. Except for the Specified Events of Defaults, each Loan Party represents that it is not aware that a Default or an Event of
Default exists or has occurred and is continuing under the Credit Agreement or any other Loan Documents, and that, except for the Specified
Events of Default, it is not aware of any existing violation or event which, with the passage of time or the giving or notice or both,
would constitute a Default or Event of Default under the Credit Agreement or any other Loan Documents.

 

5.8 Liens.
The Loan Parties have title to all of their property and assets, real and personal, that constitute Collateral. None of the Collateral
is subject to any Lien, security interest, encumbrance, or other claim of any nature, other than Liens and security interests in favor
of the Lender or expressly permitted under the Loan Documents.

 

5.9 Other
Representations and Warranties. The representations and warranties of the Loan Parties contained in the Loan Documents (a) which are
subject to a materiality qualifier, are true and correct in all respects and (b) which are not subject to a materiality qualifier, are
true and correct in all material
respects; in each case, as of the Effective Date, as though made on and as of the Effective Date, except to the extent that such representations
and warranties expressly relate to (i) an earlier specified date, in which case such representations and warranties are hereby reaffirmed
as true and correct in all respects as of the date when made or (ii) the existence of the Specified Events of Default.

 

    	 	- 10 -	 

     

    

 

Section 6 - CONDITIONS PRECEDENT

 

The effectiveness
of this Agreement and the Lender’s obligations hereunder are conditioned on the satisfaction by the Loan Parties of the following
conditions precedent:

 

6.1 Delivery
of Documents. The Loan Parties shall have delivered or cause to be delivered to the Lender the following, all satisfactory to the
Lender in form and substance and if requiring signature, then duly executed by all parties thereto:

 

 a. this Agreement;

 

b. copies
of (i) resolutions, unanimous consents, or equivalent authority documents of the Loan Parties, as applicable, authorizing the execution,
delivery, and performance of each of the Loan Documents required to be executed and delivered by such Loan Parties hereunder and (ii)
as applicable, the Loan Parties’ articles of incorporation, certificates of formation or organization, by-laws, and operating agreements;

 

c. an
incumbency certificate for the Loan Parties identifying all the names, incumbency, and signatures of the Persons authorized to execute
the Loan Documents required to be delivered hereunder of behalf of such Loan Parties;

 

d. certificates
of good standing or equivalent for the Loan Parties issued as of a contemporaneous date;

 

e. with
respect to the New Subsidiaries, evidence reasonably satisfactory to the Lender that such Persons are no longer Subsidiaries of iFresh;
and

 

f. all
other agreements, instruments, or documents or other things reasonably requested by the Lender to effectuate the substance and intent
of this Agreement.

 

Section 7 - EVENTS OF DEFAULT

 

Each of the following
constitutes an immediate default and event of default (an “Event of Default”) under this Agreement and, notwithstanding
anything contained in any Loan Document, including, without limitation, any provision therein requiring the Lender to provide the Loan
Parties or any other Person with prior notice or an opportunity to cure, an immediate Default and Event of Default under each Loan Document:

 

7.1 Payment.
Failure of the Loan Parties to pay (a) any principal or interest as and when due and payable under this Agreement or any other Loan Document;
or (b) any other amount due and payable under this Agreement or any other Loan Document within five (5) days following such amount becoming
due and payable.

 

    	 	- 11 -	 

     

    

 

7.2 Covenants.
Failure of any Loan Party to observe any term, condition, or covenant set forth in this Agreement.

 

7.3 Representations
and Warranties. Any representation or warranty made by any Loan Party in this Agreement, any other Loan Document, or any document,
certificate or statement furnished or to be furnished from, by, or on behalf of any Loan Party to the Lender in connection with this Agreement
or any other Loan Document is false or misleading in any material respect as of the date made.

 

7.4 Agreements
Invalid. The validity, binding nature of, or enforceability of any term or provision of this Agreement is disputed by, on behalf of,
or in the right or name of any Loan Party or any material term or provision of this Agreement is found or declared to be invalid, avoidable,
or unenforceable by any court of competent jurisdiction.

 

7.5 Material
Adverse Effect. An event occurs, or a circumstance or condition exists, which has a Material Adverse Effect on the Loan Parties, and
such event, circumstance, or condition and its Material Adverse Effect on the Loan Parties are continuing.

 

7.6 Other
Defaults. An Event of Default under the Credit Agreement or any other Loan Document occurs and is continuing.

 

Section 8 - REMEDIES

 

8.1 Remedies.
Upon the occurrence and during the continuance of an Event of Default, the Lender will have, and may exercise, any and all of its rights
and remedies set forth herein or in any Loan Document, at law, or in equity.

 

8.2 Waiver.
In accordance with Section 9-624 of the Uniform Commercial Code, the Loan Parties hereby waive the right to (a) [reserved]; (b) require
disposition of collateral under Section 9-620(e) of the Uniform Commercial Code; and (c) redeem collateral under Section 9-623 of the
Uniform Commercial Code.

 

8.3 No
Contest. Conditioned only on the occurrence and continuance of an Event of Default, the Lender will be entitled to, and the Loan Parties
hereby consent to, the appointment of a state or federal court receiver with respect to any or all of the Loan Parties (excluding Mr.
Deng) and/or any or all of the Collateral with notice to the Loan Parties, and the Loan Parties shall not oppose or otherwise interfere
with such a receiver or the Lender’s ability to obtain the appointment of such a receiver.

 

Section 9 - MISCELLANEOUS

 

9.1 Ratification
and Confirmation. Each Loan Party hereby ratifies and confirms that, except as expressly modified and superseded hereby, all of the
terms of the Loan Documents, including, without limitation, all confirmations, acknowledgments, releases, waivers, consents, indemnifications,
and jury trial waivers contained in all such documents, remain in full force and effect and, as modified and superseded hereby, are
reaffirmed and continue to be legal, valid, and binding Obligations of the Loan Parties and enforceable in accordance with their respective
terms.

 

    	 	- 12 -	 

     

    

 

9.2 Effect
of Agreement; Reservation of Rights. This Agreement is not (a) a waiver of or consent to a modification of any term of any Loan Document,
except as expressly set forth herein, and (b) except as expressly set forth herein, does not prejudice any right or rights which the Lender
now has or may have in the future under or in connection with any Loan Document, at law, or in equity.

 

9.3 References
to Loan Documents. On and after the Effective Date, all references to the Loan Documents will be deemed to be references to the Loan
Documents as amended or otherwise modified by this Agreement.

 

9.4 Conflict.
In the event and to the extent of any conflict between the terms of this Agreement and the terms of any Loan Document, the terms of this
Agreement with respect thereto will govern.

 

9.5 Survival
of Representations and Warranties. All representations and warranties contained in this Agreement and any other Loan Document will
survive the execution of this Agreement and are material and have been or will be relied on by the Lender, and no investigation made by
the Lender, any Loan Party or any other Person on the behalf of any of them affects the representations and warranties or the right of
the Lender to rely on them. No implied representations or warranties are created or arise as a result of this Agreement. For purposes
of this section, all statements in any certificate or other writing required by this Agreement or any other Loan Document to be delivered
to the Lender by or on behalf of any Loan Party are deemed to be representations and warranties contained in this Agreement.

 

9.6 No
Waiver. No failure or delay on the part of the Lender in the exercise of any right, power, privilege, or remedy will operate as a
waiver thereof, nor will any single or partial exercise of any right, power, privilege, or remedy preclude any other or further exercise
thereof or the exercise of any other right, power, privilege, or remedy.

 

9.7 Notices.
All notices, demands, and other communications required or permitted to be given under this Agreement must be given in accordance with
the notice provisions of the Credit Agreement.

 

9.8 Headings.
The headings and underscoring of articles, sections, and clauses have been included herein for convenience only and are not to be considered
in interpreting this Agreement.

 

9.9 Integration
and Entire Agreement. This Agreement is specifically limited to the matters expressly set forth herein. This Agreement constitutes
the sole, final, and entire agreement of the parties with respect to the subject matter hereof, supersedes any and all prior oral and
written communications with respect to the subject matter hereof, and may not be contradicted or varied by evidence of prior, contemporaneous,
or subsequent oral agreements or discussions of the parties hereto. There are no oral agreements among the parties hereto relating to
the subject matter hereof or any other subject matter relating to any Loan Document.

 

9.10 Amendment
and Waiver. No amendment of this Agreement and no waiver, discharge, or termination of any one or more of the terms or conditions
hereof, will be effective unless set forth in writing and signed by the Loan Parties and the Lender.

 

 

    	 	- 13 -	 

     

    

 

9.11 Successors
and Assigns. This Agreement (a) is binding on the Loan Parties, the Lender, and their respective nominees, successors, and assigns,
and (b) inures to the benefit of the Loan Parties, the Lender, and their respective nominees, successors, and permitted assigns. Notwithstanding
the foregoing, the Loan Parties shall not assign their rights hereunder or any interest herein without obtaining the prior written consent
of the Lender, and any assignment or attempted assignment by the Loan Parties without the Lender’s prior written consent will be
void and of no effect with respect to the Lender.

 

9.12 Severability
of Provisions. Any provision of this Agreement that is held to be illegal, inoperative, unenforceable, void, or invalid in any jurisdiction
will, as to that jurisdiction, be ineffective to the extent illegal, inoperative, unenforceable, void, or invalid without affecting the
remaining provisions in that jurisdiction or the legality, operation, enforceability, or validity of that provision in any other jurisdiction,
and to this end the provisions of this Agreement are declared to be severable.

 

9.13 Third-Party
Beneficiaries. No term of this Agreement is intended to benefit any Person other than the Loan Parties and the Lender, nor will any
term be enforceable by any other Person, provided, however, that each and every one of the Releasees shall be deemed to be intended third-party
beneficiaries of this Agreement.

 

 9.14 Indemnification.

 

a. If,
after receipt of any transfer with respect to or payment of all or any part of the Obligations, the Lender is compelled to surrender such
transfer or payment to any Person for any reason (including, without limitation, a determination that such transfer or payment is void
or voidable as a preference or fraudulent conveyance or transfer, an impermissible setoff, or a diversion of trust funds), then (i) each
such transfer or payment will be deemed never to have occurred, and the outstanding Obligations will be adjusted accordingly; (ii) this
Agreement and the other Loan Documents will continue in full force and effect; and (iii) the Loan Parties will be liable for and shall
indemnify, defend, and hold harmless the Lender with respect to the full amount so surrendered.

 

b. The
provisions of this Section will survive the termination of this Agreement and will be and remain effective notwithstanding the payment
to the Lender of any or all of the Obligations, the cancellation of any Loan Document, the release of any Lien or security interest securing
the Obligations, or any other action which the Lender may have taken in reliance on the receipt of such payment. Any cancellation of any
of the Loan Documents or other such action will be deemed to have been conditioned on any payment of any or all of the Obligations having
become final and irrevocable.

 

9.15 Further
Assurances. On the request of the Lender and at the sole expense of the Loan Parties, the Loan Parties hereby agree to promptly and
duly execute and deliver or have recorded such further agreements, instruments, or documents and take such further actions as the Lender
may reasonably request to effectuate the terms and conditions and purposes of this Agreement.

 

    	 	- 14 -	 

     

    

 

9.16 Governing
Law; Forum; Waiver of Jury Trial. THE TERMS AND PROVISIONS OF SECTIONS 11.8 and 11.9 OF THE CREDIT AGREEMENT ARE HEREBY INCORPORATED
HEREIN BY REFERENCE, AND SHALL APPLY TO THIS AGREEMENT AS IF FULLY SET FORTH HEREIN.

 

9.17 Counterparts.
This Agreement may be executed in one or more counterparts and by different parties hereto on separate counterparts, each of which will
be deemed an original and all of which taken together will constitute one and the same agreement, and this Agreement will be binding on
all of the parties hereto, even though such parties do not sign the same signature page. Signatures transmitted electronically or by telecopy
will be deemed original signatures.

 

9.18 Course
of Dealing. Acceptance of or acquiescence by the Lender in a course of performance or course of dealing rendered or taken under or
with respect to this Agreement or any other Loan Document will not be relevant in any respect to determine the Obligations or meaning
of this Agreement or any other Loan Document, even though the Lender had knowledge of the nature of the performance and opportunity for
objection.

 

9.19 Construction.
This Agreement has been entered into by parties who are experienced in sophisticated and complex matters similar to the transactions contemplated
hereby and are being entered into by the parties in reliance upon the economic and legal bargains contained herein and in the Loan Documents
and shall be interpreted and construed in a fair and impartial manner, without regard to such factors as the party that prepared the instrument,
the relative bargaining powers of the parties, or the domicile of any party, but shall be construed and interpreted according to the ordinary
meaning of the words used so as to fairly accomplish the purposes and intentions of all parties to this Agreement.

 

[signature pages follow]

 

    	 	- 15 -	 

     

    

 

The undersigned have caused this Limited
Waiver and Amendment Agreement to be executed on the date of this Agreement by their duly authorized officers.

 

	 	Borrower:
	 	 	 
	 	NYM HOLDING, INC.
	 	 	 
	 	By:	/s/ Long
    Deng
	 	Name:  	Long Deng
	 	Title:	 CEO
	 	 	 
	 	Guarantors:
	 	 
	 	IFRESH, INC.
	 	 	 
	 	By:	/s/ Ping Zhou
	 	Name: 	Ping Zhou
	 	Title: 	Director
	 	 	 
	 	By:	/s/ Harvey Leibowitz
	 	Name: 	Harvey Leibowitz
	 	Title: 	Director
	 	 	 
	 	By:	/s/ Jay Walder
	 	Name:	 Jay Walder
	 	Title: 	Director
	 	 	 
	 	By:	/s/ Long Deng
	 	Name: 	Long Deng
	 	Title: 	Director
	 	 	 
	 	By:	/s/ Mark Fang
	 	Name: 	Mark Fang
	 	Title: 	Director
	 	 	 
	 	NEW YORK MART 8 AVE, INC.
	 	 	 
	 	By:	/s/ Long Deng
	 	Name: 	Long Deng
	 	Title:	 President

 

Signature Page to Limited Waiver
and Amendment Agreement

 

     

     

    

 

	 	NEW YORK MART EAST BROADWAY INC.
	 	 	 
	 	By: 	/s/
    Long Deng
	 	Name:	Long Deng 
	 	Title:	President
	 	 	 
	 	NEW YORK SUPERMARKET EAST BROADWAY INC.
	 	 	 
	 	By: 	/s/
    Long Deng
	 	Name:	Long Deng 
	 	Title:	President
	 	 	 
	 	NEW YORK MART
    GROUP INC.
	 	 	 
	 	By: 	/s/
    Long Deng
	 	Name:	Long Deng 
	 	Title:	President
	 	 	 
	 	MING'S SUPERMARKET,
    INC.
	 	 	 
	 	By: 	/s/
    Long Deng
	 	Name:	Long Deng 
	 	Title:	President
	 	 	 
	 	NEW YORK MART
    MOTT ST., INC.
	 	 	 
	 	By: 	/s/
    Long Deng
	 	Name:	Long Deng 
	 	Title:	President
	 	 	 
	 	NEW YORK MART
    ROOSEVELT, INC.
	 	 	 
	 	By: 	/s/
    Long Deng
	 	Name:	Long Deng 
	 	Title:	President

 

Signature
Page to Limited Waiver and Amendment Agreement

 

     

     

    

 

	 	NEW YORK MART
    SUNRISE, INC.
	 	 	 
	 	By: 	/s/
    Long Deng
	 	Name:	Long Deng 
	 	Title:	President
	 	 	 
	 	ZEN MKT QUINCY,
    INC.
	 	 	 
	 	By: 	/s/
    Long Deng
	 	Name:	Long Deng 
	 	Title:	President
	 	 	 
	 	STRONG AMERICA
    LIMITED
	 	 	 
	 	By: 	/s/
    Long Deng
	 	Name:	Long Deng 
	 	Title:	President
	 	 	 
	 	iFRESH E COLONIAL
    INC.
	 	 	 
	 	By: 	/s/
    Long Deng
	 	Name:	Long Deng 
	 	Title:	President
	 	 	 
	 	iFRESH GLEN
    COVE INC.
	 	 	 
	 	By: 	/s/
    Long Deng
	 	Name:	Long Deng 
	 	Title:	President
	 	 	 
	 	IFRESH BELLAIRE,
    INC.
	 	 	 
	 	By: 	/s/
    Long Deng
	 	Name:	Long Deng 
	 	Title:	President

 

Signature
Page to Limited Waiver and Amendment Agreement

 

     

     

    

 

	 	NEW YORK MART
    AVE U 2ND INC.
	 	 	 
	 	By:	/s/ Long
    Deng
	 	Name:	Long Deng
	 	Title:	President

 

	 	NEW YORK MART
    CT, INC.
	 	 	 
	 	By:	/s/ Long
    Deng
	 	Name:	Long Deng
	 	Title:	President

 

	 	NEW YORK MART
    N. MIAMI INC.
	 	 	 
	 	By:	/s/ Long
    Deng
	 	Name:	Long Deng
	 	Title:	President

 

	 	NYM MILFORD,
    LLC
	 	 	 
	 	By:	/s/ Long
    Deng
	 	Name:	Long Deng
	 	Title:	Member

 

	 	GO FRESH 365,
    INC.
	 	 	 
	 	By:	/s/ Long
    Deng
	 	Name:	Long Deng
	 	Title:	CEO

 

	 	/s/
    Long Deng 
	 	Long Deng,
    individually

 

Signature
Page to Limited Waiver and Amendment Agreement

 

     

     

    

 

	 	Lender:
	 	 	 
	 	KEYBANK NATIONAL ASSOCIATION
	 	 	 
	 	By:	/s/ Robert G. Krupka
	 	Name:	Robert G. Krupka
	 	Title:	Vice President

 

Signature
Page to Limited Waiver and Amendment Agreement

 

     

     

    

 

	ACKNOWLEDGED AND
    CONSENTED  TO BY:
	 	 
	/s/
    Dengrong Zhou	 
	Dengrong Zhou, individually	 

 

Signature
Page to Limited Waiver and Amendment Agreement

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