Document:

EX-10.22

 Exhibit 10.22 

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND NEITHER THIS NOTE NOR ANY INTEREST HEREIN MAY
BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND SUCH LAWS, OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE OPINION OF LEGAL
COUNSEL IN FORM AND SUBSTANCE ACCEPTABLE TO MAKER, IS AVAILABLE. 
 PROMISSORY NOTE 

 

			
	Principal Amount: $4,182,353.00	  	Issuance Date: October 28, 2022

 FOR VALUE RECEIVED, SeaStar Medical Holding Corporation, a Delaware corporation
(“Maker”), promises to pay to the order of Maxim Group LLC, a New York limited liability company, or its successors and assigns (“Payee”), the principal sum of Four Million One Hundred
and Eighty-Two Thousand Three Hundred Fifty-Three U.S. Dollars ($4,182,353.00), with interest thereon as set forth herein, in accordance with the terms and conditions of this Promissory Note (this
“Note”). 
 1. Interest. Simple interest shall accrue on the outstanding principal amount
hereof from the issuance date of this Note until paid in full at a per annum rate equal to Seven Percent (7.0%) (or, if less, the maximum interest rate allowed by applicable law), subject to Section 9 hereof. Interest shall
be computed on the basis of a 365-day year, counting the actual number of days elapsed. Any payment by Maker of any interest amount in excess of that permitted by applicable law shall be applied to the
principal of this Note without prepayment premium or penalty. 
 2. Repayment. The principal amount hereof, together with all accrued
and unpaid interest thereon and all other amounts owing from Maker to Payee hereunder, shall be due and payable on October 30, 2023 (the “Maturity Date”), subject to Section 3 and
Section 9 hereof. All payments on this Note shall be made by check or wire transfer of immediately available funds to such account as Payee may from time to time designate by written notice in accordance with the provisions
of this Note. This Note may be prepaid at any time by Maker without prepayment premium or penalty. Whenever any payment to be made hereunder shall be due on a day that is not a Business Day (as defined below), such payment shall be due on the next
succeeding Business Day. 
 3. Mandatory Prepayment. Notwithstanding Section 2 above, in the event that Maker shall receive any
cash proceeds from a debt or equity financing transaction (including, for the avoidance of doubt, as a result of any prepaid forward agreements or upon consummation of any equity or debt financing(s)) prior to the Maturity Date, (each, a
“Future Cash Payment”), then Maker shall be required to prepay the indebtedness evidenced by this Note in an amount equal to Twenty-Five Percent (25%) of the gross amount of such Future Cash Payment within three
(3) Business Day of the payment thereof. However, the preceding sentence shall not apply to the first Five Hundred Thousand Dollars ($500,000) of Future Cash Payments received by Maker (the “Exempt Future Cash Payment”).
For the avoidance of doubt, the Exempt Future Cash Payment reflects the total aggregate dollar amount that is exempt from the provisions of this Section 3 and does not represent a per transaction exemption. 

4. Application of Payments. All payments received by Payee from Maker hereunder shall be applied in the following priority: first, to
the payment of any expenses due to Payee pursuant to the terms of this Note; second, to the payment of interest accrued and unpaid on this Note; and thereafter, to the payment of the principal amount hereof. 

 5. [Intentionally Left Blank] 

6. Representations and Warranties. Maker hereby represents and warrants to Payee as of the date hereof as follows: 

(a) Maker is a corporation duly formed, validly existing and in good standing under the laws of the state of Delaware and has the requisite
power and authority, and the legal right, to own, lease and operate its properties and assets and to conduct its business as it is now being conducted; 

(b) Other than SeaStar Medical, Inc., a Delaware corporation, Maker does not have any direct or indirect subsidiaries and Maker does not hold,
directly or indirectly, any equity securities or other interests in any other person; 
 (c) Maker has the power and authority, and the
legal right, to execute and deliver this Note and to perform its obligations hereunder; 
 (d) the execution and delivery of this Note by
Maker and the performance of its obligations hereunder have been duly authorized by all necessary action in accordance with all applicable laws; 

(e) Maker has duly executed and delivered this Note; 

(f) no consent or authorization of, filing with, notice to or other act by, or in respect of, any person, including any governmental
authority, is required in order for Maker to execute, deliver, or perform any of its obligations under this Note; 
 (g) the Note is a
valid, legal and binding obligation of Maker, enforceable against Maker in accordance with its terms; and 
 (h) Maker has no other Debt
other than (i) $700,000 in principal amount of indebtedness pursuant to that certain Credit Agreement, dated September 9, 2022, as amended on October 28, 2022, with LM Funding America, Inc., and (ii) the Consolidated Amended and
Restated Promissory Note, dated October 28, 2022, in the aggregate principal amount of $2,785,000 payable to LMFAO Sponsor, LLC (collectively, the “Existing Debt”). 

7. Affirmative Covenants. Until all amounts outstanding under this Note have been paid in full, Maker shall: 

(a) (i) preserve, renew and maintain in full force and effect its corporate or organizational existence, and (ii) take all
reasonable action to maintain all rights, privileges and franchises necessary or desirable in the normal conduct of its business; 
 (b)
comply in all material respects with (i) all of the terms and provisions of its organizational documents, (ii) its obligations under its contracts and agreement (except as otherwise provided in Section 8 below or otherwise in
contravention of the provisions of this Note); and (iii) all laws of applicable to it and its business; 
 (c) pay, discharge or
otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its material obligations of whatever nature (except as otherwise provided in Section 8 below or otherwise in contravention of the provisions of
this Note); 

 (d) provide written notice to Payee immediately upon its receipt of notice of the same, of
all material actions, suits and proceedings before any court or governmental entity, to which Maker is subject; 
 (e) as soon as possible,
and in any event within two (2) Business Days after it becomes aware that an Event of Default has occurred, notify Payee in writing of the nature and extent of such Event of Default and the action, if any, it has taken or proposes to take with
respect to such Event of Default; and 
 (f) upon the request of Payee, promptly execute and deliver such further instruments and do or
cause to be done such further acts as may be reasonably necessary or advisable to carry out the intent and purposes of this Note. 
 8.
Negative Covenants. Until all amounts outstanding under this Note have been paid in full, Maker, without the prior written consent of Payee (which may be withheld, delayed or conditioned in Payee’s sole discretion), shall not: 

(a) incur, create, assume or suffer to exist any lien, mortgage, pledge, security interest, claim, encumbrance, charge or restrictions of any
kind on any assets of Maker (it being acknowledged and agreed the holders of the Existing Debt have a security interest securing the Existing Debt); 

(b) incur, create or assume any Debt that is senior to this Note; 

(c) merge or consolidate into another entity; 

(d) assign, sell, convey, dispose of or otherwise transfer any material assets of Maker or any beneficial interest therein; 

(e) make any distributions to its stockholders; 

(f) acquire, directly or indirectly, any equity securities, other interests or businesses of any other person; 

(g) engage in any material transaction outside of the ordinary course of its business; 

(h) enter into, amend or waive any material right under any material agreement or contract to which Maker is a party; 

(i) materially amend its organizational documents; or 

(j) materially alter the nature or focus of its business. 

“Debt” shall mean, at any time, all obligations of Maker: (i) for borrowed money or with respect to deposits or advances of any
kind, other than deposits or advances received by Maker for services to be rendered or goods to be sold in the ordinary course of business, (ii) evidenced by bonds, debentures, notes or other similar instruments, (iii) for the deferred
purchase price of property or services, except accounts payable arising in the ordinary course of business, (iv) under conditional sale or other title retention agreements relating to property purchased by Maker, except those incurred in the
ordinary course of business, (v) with respect to interest rate or currency protection agreements, (vi) under a lease that is required to be capitalized for financial reporting purposes in accordance with U.S. generally accepted accounting
principles, (vii) for the face amount of all letters of credit and all drafts drawn thereunder; (viii) as an account party in respect of bankers’ acceptances, (ix) relating to the obligations of any other person that are secured
by property or assets of Maker; or (x) relating to any guarantee issued by Maker. 

 9. Events of Default. The occurrence of any of the following events shall constitute
an “Event of Default” by Maker under this Note: 
 (a) any representation or warranty made or deemed made by Maker to Payee
herein is incorrect in any material respect on the date as of which such representation or warranty was made or deemed made; 
 (b) Maker
fails to timely make any payment of principal due hereunder; 
 (c) Maker fails to timely make any payment of interest due hereunder, and
such failure remains uncured for a period of five (5) Business Days beyond the occurrence of such failure; 
 (d) Maker fails to
observe or perform any other covenant, obligation, condition or agreement contained in this Note, and such failure remains uncured for a period of thirty (30) days (i) beyond the occurrence of such failure in the event that such failure is
material and cannot have been reasonably known to the Payee and no notice was given to the Payee or (ii) if timely notice shall have been given to the Payee in accordance with the terms herein, after written notice to Payee; 

(e) Maker incurs, creates or assumes any Debt that is senior to this Note or amends the terms of any Existing Debt in a manner that is more
favorable to the holders of the Existing Debt than the terms thereof as of the Issuance Date; 
 (f) Maker asserts that the Payee’s
rights provided herein are invalid or unenforceable, in whole or in part; 
 (g) Maker shall make an assignment for the benefit of
creditors, file a petition in bankruptcy, petition or apply to any tribunal for the appointment of a custodian, receiver or trustee for itself or a substantial portion of its assets; 

(h) any involuntary petition is filed against Maker under any bankruptcy law, rule, regulation, statute or ordinance 

(i) Maker shall commence any proceeding under any bankruptcy, insolvency, dissolution, termination or liquidation law or statute of any
jurisdiction; 
 (j) Maker is generally not, or is unable to, or admits in writing its inability to, pay its debts as they become due; 

(k) there shall occur any event or condition which gives a creditor the right to accelerate or which automatically accelerates the maturity of
any indebtedness of Maker; 
 (l) one or more material judgments or decrees shall be entered against Maker and all of such judgments or
decrees shall not have been vacated, discharged, stayed or bonded pending appeal within thirty (30) days from the entry thereof; or 

(m) The Maker shall fail to register for resale the 103,500 shares owned by the Payee in accordance with the terms of that certain
registration rights agreement, dated January 25, 2021. 

 From and after the occurrence of an Event of Default, (i) the unpaid principal balance of this Note and
all interest thereon shall be immediately due and payable, and (ii) interest thereon shall accrue at the rate of Fifteen Percent (15%) per annum. The rights and remedies of Payee under this Section shall be cumulative and shall be in addition
to any other rights and remedies that Payee may have under any other agreement, or at law or in equity. 
 10. Waivers. Maker
waives presentment for payment, demand, notice of dishonor, protest, and notice of protest with regard to this Note, all errors, defects and imperfections in any proceedings instituted by Payee under the terms of this Note, and all benefits that
might accrue to Maker by virtue of any present or future laws exempting any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution, or providing for any stay
of execution, exemption from civil process, or extension of time for payment; and Maker agrees that any real or personal property that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution issued hereon, may
be sold upon any such writ in whole or in part in any order desired by Payee. 
 11. Unconditional Liability. Maker hereby
waives all notices in connection with the delivery, acceptance, performance, default, or enforcement of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party, and shall not
be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee with
respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become parties hereto without notice to Maker or affecting Maker’s liability hereunder. 

12. Notices. All notices, statements, documents or other communications required or contemplated to be delivered hereunder shall
be in writing and: (i) delivered personally or sent by first class registered or certified mail or overnight courier service to the applicable address(es) provided below; (ii) sent by facsimile to the applicable number(s) provided below,
with confirmation of delivery received by sender; or (iii) sent by electronic mail, to the applicable electronic mail address(es) provided below, so long as no indication of delivery failure is received by sender. All such communications so
transmitted shall be deemed to have been given: (x) on the day of delivery, if delivered personally; (y) on the third Business Day following sending, if sent by first class registered or certified mail; or (z) on the Business Day
following sending, if sent by overnight courier service, or by facsimile with confirmation of delivery received, or by electronic mail with no indication of delivery failure received. The parties’ contact information is as follows: 

 

			
	 If to Payee, to:
  

Maxim Group LLC
 300 Park Avenue, 16th Floor
 New York, NY 10022

Attn:_____________
 Fax:______________

Email:____________
	  	 with a copy (which shall not constitute notice) to:
  

Ellenoff Grossman & Schole LLP 
1345 Avenue of the Americas, 11th Floor 
New York, NY 10105

Attn: Barry Grossman, Esq.
 Fax: 212-370-7889 
Email:
bigrossman@egsllp.com

 
			
	 If to Maker, to:
  

SeaStar Medical Holding Corporation
 3513 Brighton Blvd., Suite
410
 Denver, CO 80216
 Attn:_____________

Fax:______________
 Email: ____________
	  	with a copy (which shall not constitute notice) to:

 13. Governing Law and Jurisdiction. This Note is governed by and construed in accordance with the
internal laws of the State of New York, without regard to conflicts of law principles. Maker hereby irrevocably and unconditionally (i) agrees that any legal action, suit or proceeding arising out of or relating to this Note may be brought by
Payee in a state or federal court located in the State of New York, and (ii) submits to the exclusive jurisdiction of any such court in any such action, suit or proceeding. Final judgment against Maker in any action, suit or proceeding shall be
conclusive and may be enforced in any other jurisdiction by suit on the judgment. Nothing in this paragraph shall affect the right of Payee to (i) commence legal proceedings or otherwise sue Maker in any other court having jurisdiction over
Maker, or (ii) serve process upon Maker in any manner authorized by the laws of any such jurisdiction. Maker irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, any objection that it may now or hereafter
have to the laying of venue of any action or proceeding arising out of or relating to this Note in any court referred to in this paragraph and the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.
MAKER HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY RELATING TO THIS NOTE OR THE TRANSACTIONS CONTEMPLATED HEREBY WHETHER BASED
ON CONTRACT, TORT OR ANY OTHER THEORY. 
 14. Severability; Usury Laws. If any provision of this Note or the application of any such
provision to any person or circumstance shall be held invalid, illegal or unenforceable in any respect by a court of competent jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision hereof. Any invalid,
illegal or unenforceable term will be deemed to be void and of no force and effect only to the minimum extent necessary to bring such term within the provisions of applicable law and such term, as so modified, and the balance of this Note will then
be fully enforceable. The parties will substitute for any invalid, illegal or unenforceable provision a suitable and equitable provision that carries out, so far as may be valid, legal and enforceable, the intent and purpose of such invalid, illegal
or unenforceable provision. This Note is subject to the express condition that at no time shall Maker be obligated or required to pay interest on the principal balance at a rate which could subject Maker or Payee to either civil or criminal
liability as a result of being in excess of the maximum rate which Maker is permitted by law to contract or agree to pay. If by the terms of this Note, Maker is at any time required or obligated to pay interest on the principal balance at a rate in
excess of such maximum rate, the rate of interest under this Note shall be deemed to be immediately reduced to such maximum rate and interest payable hereunder shall be computed at such maximum rate. 

15. Loss, Theft, Destruction or Mutilation of Note. Upon receipt of notice to Maker of the loss, theft, destruction or mutilation of
this Note, and, in the case of any such loss, theft or destruction, upon receipt of an affidavit of loss from Payee to Maker, Maker shall issue a new Note to Payee with identical terms as this Note in replacement of this Note. 

16. Extension of Time. No extension of time for payment of any amounts due under this Note nor any waiver of any provision of
this Note shall release, modify or otherwise affect Maker’s liability for the payments due under this Note. 

 17. Further Assurances. Promptly upon the request of Payee, Maker shall do, execute,
acknowledge, deliver, record, file and register any and all such further acts, deeds, mortgages, assignments, financing statements and continuations thereof, certificates, assurances and other instruments as Payee, may reasonably require from time
to time in order to (A) carry out more effectively the purposes of this Note, (B) maintain the priority of Payee’s rights hereunder, and (C) assure, convey, grant, assign, transfer, preserve, protect and confirm more effectively
unto Payee, the rights granted or now or hereafter intended to be granted to Payee under this Note or under any other instruments executed in connection with this Note. 

18. Reasonable Expenses. Maker shall reimburse Payee on demand for all reasonable costs, expenses and fees (including the reasonable
expenses and fees of its counsel) incurred by Payee in connection with the transactions contemplated hereby including the negotiation, documentation and execution of this Note and the enforcement of Payee’s rights hereunder. 

19. Entire Agreement. This Note constitutes the entire agreement of the parties with respect to the matters set forth herein.
All prior agreements, understanding and arrangements among the parties with respect to the subject matter hereof are hereby superseded by this Note and of no further force or effect. 

20. No Strict Construction. This Note has been reviewed by the parties and is being entered into among competent persons, who are
experienced in business. In the event an ambiguity or question of intent or interpretation arises, this Note shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party
by virtue of the authorship of any of the provisions of this Note. 
 21. Assignment. This Note and the rights and obligations
hereunder may not be assigned or delegated, in whole or in part, by Maker except with the prior written consent of Payee (which may be withheld, delayed or conditioned in Payee’s sole discretion). Subject to the foregoing, this Note shall inure
to the benefit of and be binding upon the heirs, successors and permitted assigns of Maker and Payee. This Note is for the sole benefit of the parties and their heirs, successors and permitted assigns. 

22. No Third-Party Beneficiaries. Except as provided in Section 21, this Note is for the sole benefit of the parties hereto and
nothing herein, express or implied, is intended to or shall confer upon any other person any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Note. 

23. Amendment; Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of
Maker and Payee. 
 24. Counterparts; Facsimile Signatures. This Note may be executed in multiple counterparts, including by
facsimile, pdf or other electronic document transmission, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. 

25. Certain Definitions. 

“Business Day” means any day other than (i) a Saturday or a Sunday, (ii) a day on which the Fedwire Funds
Service, operated by the United States Federal Reserve Banks, is closed or (iii) a day on which banks are authorized or required to close in New York, NY. 

{Remainder of Page Intentionally Left Blank; Signature Page Follows} 

 IN WITNESS WHEREOF, the undersigned Maker has caused this Promissory Note to be duly
executed and delivered as of the date first set forth above. 
  

			
	SEASTAR MEDICAL HOLDING CORPORATION
		
	By:	 	 /s/ Eric Schlorff

	Name: Eric Schlorff
	Title: Chief Executive Officer

 Acknowledged and agreed as of the date first set forth above: 

MAXIM GROUP LLC 
  

			
	By:	 	 /s/ Clifford A. Teller

	Name: Clifford A. Teller
	Title: Co-PresidentEX-10.23

 Exhibit 10.23 

INTERCREDITOR AGREEMENT 

This INTERCREDITOR AGREEMENT (this “Agreement”) is made as of October 28, 2022 (the “Effective
Date”), by and among Maxim Group LLC, a New York limited liability company (“Maxim”), LM Funding America, Inc., a Delaware corporation (“LMFA”), LMFAO Sponsor, LLC, a Florida limited liability company
(“Sponsor”, and together with LMFA and Maxim, the “Creditors” and each, a “Creditor”), SeaStar Medical, Inc., a Delaware corporation (“SeaStar”) and SeaStar Medical Holding
Corporation, a Delaware corporation (“Parent” and, together with SeaStar, the “Company”). 
 A.
Pursuant to that certain Security Agreement dated as of October 28, 2022 (the “LMFA Security Agreement”), the Company has granted LMFA a lien on and security interest in all of its assets to secure the obligations of SeaStar to
LMFA under that certain Amended and Restated Promissory Note dated as of October 28, 2022 in the initial principal amount of $700,000.00 (the “LMFA Promissory Note”) and that certain Credit Agreement, dated as of
September 9, 2022, between SeaStar and LMFA (the “LMFA Credit Agreement”). The LMFA Security Agreement, the LMFA Promissory Note, and the LMFA Credit Agreement are collectively referred to as “LMFA Loan
Documents”. 
 B. Pursuant to that certain Security Agreement dated as of October 28, 2022 (the “Sponsor Security
Agreement”, and together with the LMFA Security Agreement, the “Security Agreements”), the Company has granted to the Sponsor a lien on and security interest in all of its assets to secure the obligations of Parent to
Sponsor under that certain Consolidated Amended and Restated Promissory Note dated as of October 28, 2022 in the initial principal amount of $2,785,000.00 (the “Sponsor Note”, and together with the Sponsor Security Agreement
and the LMFA Loan Documents, collectively, the “Secured Creditor Loan Documents”). 
 C. Parent is indebted to Maxim under
that certain Promissory Note dated as of October 28, 2022 in the initial principal amount of $4,182,353.00 (the “Maxim Note” and, together with the Secured Creditor Loan Documents, the “Loan Documents”). 

D. Each Creditor desires to enter into this Agreement to establish its rights with respect to one another. 

NOW, THEREFORE, for good and valuable consideration, receipt of which is hereby acknowledged, the Creditors agree as follows: 

1. Definitions. 

1.1 General Terms. For purposes of this Agreement, the following terms shall have the following meanings: 

“Collateral” means all tangible and intangible assets of the Company, whether now owned or hereafter acquired, wherever
located. 
 “Event of Default” means any default or “Event of Default” under any of the Loan Documents. 

 “First Priority Collateral” means all Collateral other than the Pari Passu
Collateral, 
 “First Priority Indebtedness” means the Indebtedness (i) owed by the Parent to Maxim pursuant to
Section 2 of the Maxim Note, (ii) the Indebtedness owed by SeaStar to LMFA pursuant to Section 2 of the LMFA Promissory Note and (iii) the Indebtedness owed by the Parent to Sponsor pursuant to Section 2 of the Sponsor Note;
provided that, upon the occurrence of an Event of Default, none of the Indebtedness shall be deemed to be First Priority Indebtedness. 

“Indebtedness” means, with respect to any Creditor, all obligations and indebtedness of the Company to such Creditor under
the respective Loan Documents, including, without limitation, all principal, interest, charges, expenses, and fees. 

“Lien” means any mortgage, deed of trust, pledge, hypothecation, assignment, deposit arrangement, security interest,
encumbrance, lien (statutory or other), setoff right, security agreement, or transfer intended as security. 
 “Pari Passu
Collateral” means all cash (other than cash that are proceeds of any Collateral that was non-cash and non-receivables) and receivables of the Company. 

“Pari Passu Indebtedness” means all Indebtedness other than the First Priority Indebtedness. 

“Remedies” means any action which results in the sale, foreclosure, replevin, realization upon, or a liquidation of any of
the Collateral including, without limitation, the exercise of any of the rights or remedies of a “secured party” under Article 9 of the Uniform Commercial Code as in effect in Florida and in New York. 

“Secured Creditors” means LMFA and Sponsor. 

2. Security. 
 2.1
Acknowledgment of Liens on Collateral. Each Creditor hereby agrees and acknowledges that LMFA and Sponsor have been granted Liens on the Collateral as set forth in the applicable Security Agreement. Each Creditor hereby agrees and
acknowledges that Maxim’s Indebtedness is unsecured. 
 2.2 Nature of Liens. Notwithstanding the order or time of
attachment, or the order, time, or manner of perfection, or the order or time of filing or recordation of any document or instrument, or other method of perfecting a Lien in favor of each Creditor in the Collateral, and notwithstanding any
conflicting terms or conditions which may be contained in any of the Loan Documents or Security Agreements, the Liens of each Creditor upon the Collateral and the proceeds and products of the foregoing, in whatever form the same may be in, the
Creditors hereby covenant, agree with, and acknowledge to one another that: 
 2.2.1 Each Secured Creditor shall share in the
First Priority Collateral pari passu up to the amount of Pari Passu Indebtedness owed to such Secured Creditor. 

 2.2.2 Each Creditor shall share in the Pari Passu Collateral pari passu
up to the amount of Pari Passu Indebtedness owed to such Creditor. 
 2.2.3 Any tangible collateral constituting First
Priority Collateral held by any Creditor shall at all times be held by such Creditor for the benefit of both Secured Creditors. 

2.2.4 Any tangible collateral constituting Pari Passu Collateral held by any Creditor shall at all times be held by such
Creditor for the benefit of all Creditors. 
 2.3 No Alteration of Priority. The Lien priorities provided in this Agreement
shall not be altered or otherwise affected by any amendment, modification, supplement, extension, renewal, restatement, or refinancing of any of the Loan Documents or Security Agreements, nor by any action or inaction which any of the Creditors may
take or fail to take in respect of the Collateral (other than the failure to file or continue a financing statement), as applicable, nor by whether any Secured Creditor holds possession of any such Collateral. 

2.4 Perfection. Each Secured Creditor shall be solely responsible for perfecting and maintaining the perfection of its
respective Lien in and to each item constituting the Collateral in which such Secured Creditor has been granted a Lien. The foregoing provisions of this Agreement are intended solely to govern the respective Lien priorities as between the Creditors.
Each Creditor agrees that it will not contest the validity, perfection (other than the failure to file or continue a financing statement), priority, or enforceability of the Liens of the other Creditors in the Collateral and that as between the
parties, the terms of this Section 2 shall govern. 
 2.5 Enforcement Action. Notwithstanding
anything to the contrary contained in any of the Loan Documents or Security Agreements, each Creditor acknowledges that no enforcement action shall be taken by any such Creditor under its respective Loan Document or Security Agreement without prior
written notice to the other Creditor at least five days prior to taking such action. 
 2.6 Cooperation. Prior to the exercise
of any Remedies by the Creditors, the Creditors shall use reasonable efforts to cooperate in the exercise of the Remedies. The Creditors agree not to, directly or indirectly, take any action that impedes, interferes with, restricts, restrains, or
prejudices the exercise by another of any rights or remedies in respect of the Collateral, if any, in a manner materially inconsistent with the other provisions of this Agreement. 

3. Right to Payment. So long as no Event of Default has occurred, the Company shall make payments with respect to the First
Priority Indebtedness on a pari passu basis to the Creditors. Upon either (i) the occurrence of an Event of Default or (ii) upon the maturity of any Indebtedness in accordance with the terms thereof, each Creditor’s right to
payment of the Pari Passu Indebtedness owed to it will be pari passu in right of payment with the Pari Passu Indebtedness of each of the other Creditors. 

 4. Miscellaneous. 

4.1 Inducement of the Creditors. In order to induce each Creditor to enter into this Agreement, the Company and each Creditor,
severally as to itself only, represents and warrants to each Creditor, that the Company or such Creditor, as the case may be, has full power, and has taken all action necessary, to execute and deliver this Agreement and to fulfill its obligations
hereunder, and that no governmental or other authorizations are required in connection herewith, and that this Agreement constitutes a legal, valid, and binding obligation of such person, enforceable in accordance with its terms, except as limited
by bankruptcy, insolvency, reorganization, moratorium, regulatory, and similar laws of general application and by general principles of equity. 

4.2 Bankruptcy Financing Issues. This Agreement shall continue in full force and effect after the filing of any petition by or against
the Company under the United States Bankruptcy Code and all converted or succeeding cases in respect thereof. 
 4.3 Notice of Default
and Certain Events. Each Creditor shall undertake to promptly notify the other Creditor of the occurrence of any of the following: 

4.3.1 the acceleration of the obligations under any of the Loan Documents by any Creditor; 

4.3.2 the payment in full by the Company (whether as a result of refinancing or otherwise) of its Indebtedness to such
Creditor; or 
 4.3.3 the exercise by the applicable Creditor of any Remedies. 

4.4 Notices. Any notice required or desired to be served, given or delivered hereunder shall be in writing, and shall be deemed to have
been validly served, given or delivered three (3) business days after deposit in the United States mails, with proper postage prepaid, one business day after delivery to a courier for next day delivery, upon delivery by courier or upon
transmission by telecopy or similar electronic medium (provided that a copy of any such notice sent by such transmission is also sent by one of the other means provided hereunder within one day after the date sent by such transmission) to the
addresses set forth below the signatures hereto, with a copy to any person or persons set forth below such signature shown as to receive a copy, or to such other address as any party designates to the others in the manner herein prescribed. Any
party giving notice to any other party hereunder shall also give copies of such notice to all other parties. 
 4.5 Amendment. 

4.5.1 No Creditor may amend the terms of any documents evidencing the Indebtedness without the prior written consent of the
other Creditors. 
 4.5.2 This Agreement and the provisions hereof may be amended, modified or waived only by a writing
signed by the Creditors. 
 4.6 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the
respective permitted successors and assigns of each of the parties hereof, provided that neither Creditor may assign or transfer any interest in the Indebtedness without the prior written consent of the other Creditor unless such transfer or
assignment is made subject to this Agreement and such transferee, assignee or person becomes a signatory to this Agreement. The Company may not transfer or assign its rights under this Agreement. 

 4.7 Counterparts. This Agreement may be executed in facsimile or portable document
format (.pdf) counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

4.8 Governing Law. This Agreement shall be governed by the laws of the State of New York (without giving effect to its principles of
conflicts of law). Any lawsuit to enforce the terms of this Agreement shall be brought only in a state or federal court located in the State of New York. 

4.9 Waiver Of Jury Trial. EACH PARTY HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, OR CAUSE OF
ACTION (A) ARISING UNDER THIS AGREEMENT OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH, OR (B) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF ANY PARTY OR ANY OF THEM WITH
RESPECT TO THIS AGREEMENT OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR DELIVERED BY THEM IN CONNECTION HEREWITH, OR THE TRANSACTIONS RELATED HERETO OR THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER
SOUNDING IN CONTRACT OR TORT OR OTHERWISE AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT JURY, AND THAT EITHER OF THEM MAY FILE AN ORIGINAL COUNTERPART OR A COPY
OF THIS SECTION 4.9 WITH ANY COURT AS WRITTEN EVIDENCE OF THEIR CONSENT TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 

 IN WITNESS WHEREOF, the undersigned have entered into this Agreement as of the date first
written above. 
  

			
	CREDITOR:
	
	MAXIM GROUP LLC
		
	By:	 	 /s/ Clifford A. Teller

	Name: Clifford A. Teller
	Title: Co-President
	
	Address:
	
	 Maxim Group LLC
 300 Park Avenue, 16th Floor

	New York, NY 10022
	Attn: James Siegel
	E-mail: jsiegel@maximgrp.com

 
			
	CREDITOR:
	
	LM FUNDING AMERICA, INC.
		
	By:	 	 /s/ Bruce M. Rodgers

	Name: Bruce M. Rodgers
	Title: Chief Executive Officer
	
	Address:
	
	1200 West Platt Street, Suite 100
	Tampa, FL 33606
	Attn: Bruce M. Rodgers
	Email: bruce@lmfunding.com
	
	CREDITOR:
	
	LMFAO SPONSOR, LLC
		
	By:	 	 /s/ Richard Russell

	Name: Richard Russell
	Title: Chief Financial Officer
	
	Address:
	
	1200 West Platt Street, Suite 100
	Tampa, FL 33606
	Attn: Bruce M. Rodgers
	Email: bruce@lmfunding.com

 
			
	SEASTAR:
	
	SEASTAR MEDICAL, INC.
		
	By:	 	 /s/ Eric Schlorff

	Name: Eric Schlorff
	Title: Chief Executive Officer
	
	Address:
	
	3513 Brighton Blvd., Suite 410
	Denver, CO 80216
	Attn:                                   
                  
	E-mail:                            
                         
	
	PARENT:
	
	SEASTAR MEDICAL HOLDING CORPORATION
		
	By:	 	 /s/ Eric Schlorff

	Name: Eric Schlorff
	Title: Chief Executive Officer
	
	Address:
	
	3513 Brighton Blvd., Suite 410
	Denver, CO 80216
	Attn:                                   
                  
	E-mail:

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