Document:

Exhibit 10.1

 

EXECUTION VERSION

 

 

 

Secured Revolving Loan Facility

 

LOAN AND SECURITY AGREEMENT

 

Among

 

ROF SPV I, LLC

 

as Borrower,

 

CREDIT SUISSE AG, New York Branch

as Agent and Managing Agent,

 

and

 

THE LENDER GROUPS
PARTY HERETO FROM TIME TO TIME

 

Dated as of

February 4, 2022

 

 

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TABLE OF CONTENTS

 

	 	 	 	 	Page
	 	 	 	 	 
	I.	DEFINITIONS	 	1
	 	 	 	 	 
	 	1.1	General Terms	 	1
	 	 	 	 	 
	II.	LOANS, PAYMENTS, INTEREST AND COLLATERAL	 	39
	 	 	 	 	 
	 	2.1	The Loans	 	39
	 	2.2	Interest on the Loan	 	42
	 	2.3	Loan Collections.	 	42
	 	2.4	Promise to Pay; Manner of Payment.	 	43
	 	2.5	Voluntary Prepayments	 	45
	 	2.6	Mandatory Prepayments	 	46
	 	2.7	Payments by Agent; Protective Advances	 	47
	 	2.8	Grant of Security Interest; Collateral	 	48
	 	2.9	Collateral Administration	 	49
	 	2.10	Power of Attorney	 	50
	 	2.11	Collection Account	 	51
	 	2.12	Inability to Determine Rates	 	51
	 	2.13	Exclusive Right to Finance.	 	53
	 	 	 	 	 
	III.	FEES AND OTHER CHARGES	 	53
	 	 	 	 	 
	 	3.1	Computation of Fees; Lawful Limits	 	53
	 	3.2	Default Rate of Interest	 	54 
	 	3.3	Increased Costs; Capital Adequacy	 	54
	 	3.4	Upfront Fee	 	55
	 	 	 	 	 
	IV.	CONDITIONS PRECEDENT	 	56
	 	 	 	 	 
	 	4.1	Conditions to Closing	 	56
	 	4.2	Conditions to Revolving Advances and Funding of Borrowings	 	58
	 	 	 	 	 
	V.	REPRESENTATIONS AND WARRANTIES	 	60
	 	 	 	 	 
	 	5.1	Organization and Authority	 	60
	 	5.2	Loan Documents	 	60
	 	5.3	Subsidiaries, Capitalization and Ownership Interests	 	61
	 	5.4	Receivables	 	61
	 	5.5	Other Agreements	 	61
	 	5.6	Litigation	 	62
	 	5.7	Financial Statements and Reports	 	62
	 	5.8	Compliance with Law	 	62
	 	5.9	Licenses and Permits	 	62
	 	5.10	No Default; Solvency	 	62
	 	5.11	Disclosure	 	63
	 	5.12	Existing Indebtedness; Investments, Guarantees and Certain Contracts	 	63
	 	5.13	Affiliated Agreements	 	63
	 	5.14	Insurance	 	63
	 	5.15	Names; Location of Offices, Records and Collateral	 	63
	 	5.16	Deposit Accounts	 	64
	 	5.17	Non-Subordination	 	64
	 	5.18	Receivables	 	64
	 	5.19	Servicing	 	64
	 	5.20	Legal Investments; Use of Proceeds	 	64
	 	5.21	Broker’s or Finder’s Commissions	 	64
	 	5.22	Anti-Terrorism; OFAC	 	65
	 	5.23	Tax Status.	 	67
	 	5.24	Security Interest	 	67
	 	5.25	Survival	 	67

 

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	VI.	AFFIRMATIVE COVENANTS	 	68
	 	 	 	 	 
	 	6.1	Financial Statements, Reports and Other Information	 	68
	 	6.2	Payment of Obligations	 	71
	 	6.3	Conduct of Business and Maintenance of Existence and Assets	 	71
	 	6.4	Compliance with Legal and Other Obligations	 	71
	 	6.5	Insurance	 	71
	 	6.6	True Books	 	72
	 	6.7	Inspection; Periodic Audits	 	72
	 	6.8	Further Assurances; Post Closing	 	73
	 	6.9	Other Liens	 	73
	 	6.10	Use of Proceeds	 	73
	 	6.11	Collateral Documents; Security Interest in Collateral	 	73
	 	6.12	Servicing Agreement; Backup Servicer	 	74
	 	6.13	Special Purpose Entity	 	74
	 	6.14	Collections.	 	76
	 	6.15	Financial Covenants and Collateral Performance	 	76
	 	6.16	Changes to Underwriting Guidelines	 	78
	 	6.17	Right of First Refusal	 	78
	 	 	 	 	 
	VII.	NEGATIVE COVENANTS	 	80
	 	 	 	 	 
	 	7.1	Indebtedness	 	80
	 	7.2	Liens	 	80
	 	7.3	Investments; Investment Property; New Facilities or Collateral; Subsidiaries	 	81
	 	7.4	Dividends; Redemptions; Equity	 	81
	 	7.5	Transactions with Affiliates	 	82
	 	7.6	Charter Documents; Fiscal Year; Dissolution; Use of Proceeds; Insurance Policies; Disposition of Collateral; Trade Names	 	82
	 	7.7	Transfer of Collateral; Amendment of Receivables	 	82
	 	7.8	Contingent Obligations and Risks	 	83
	 	7.9	Truth of Statements	 	83
	 	7.10	Modifications of Agreements	 	83
	 	7.11	Anti-Terrorism; OFAC	 	83
	 	7.12	Deposit Accounts and Payment Instructions	 	83
	 	7.13	Servicing Agreement	 	84
	 	7.14	No Adverse Selection	 	84
	 	7.15	Bank Partnership Agreement	 	84
	 	 	 	 	 
	VIII.	EVENTS OF DEFAULT	 	84
	 	 	 	 
	IX.	RIGHTS AND REMEDIES AFTER DEFAULT	 	87
	 	 	 	 	 
	 	9.1	Rights and Remedies	 	87
	 	9.2	Application of Proceeds	 	88
	 	9.3	Right to Appoint Receiver	 	88
	 	9.4	Attorney-in-Fact	 	89
	 	9.5	Rights and Remedies not Exclusive	 	89
	 	 	 	 	 
	X.	WAIVERS AND JUDICIAL PROCEEDINGS	 	89
	 	 	 	 	 
	 	10.1	Waivers	 	89
	 	10.2	Delay; No Waiver of Defaults	 	89
	 	10.3	Jury Waiver	 	90
	 	10.4	Amendment and Waivers	 	90
	 	 	 	 	 
	XI.	EFFECTIVE DATE AND TERMINATION	91
	 	 	 	 	 
	 	11.1	Effectiveness and Termination	 	91
	 	11.2	Survival	 	92

 

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	XII.	MISCELLANEOUS	 	92
	 	 	 	 	 
	 	12.1	Governing Law; Jurisdiction; Service of Process; Venue	 	92
	 	12.2	Successors and Assigns; Assignments and Participations	 	93
	 	12.3	Application of Payments	 	96
	 	12.4	Indemnity	 	96
	 	12.5	Notice	 	97
	 	12.6	Severability; Captions; Counterparts; Facsimile Signatures	 	97
	 	12.7	Expenses	 	98
	 	12.8	Entire Agreement	 	98
	 	12.9	Approvals and Duties	 	99
	 	12.10	Release of Collateral	 	99
	 	12.11	Times of Day	 	100
	 	12.12	Rounding	 	100
	 	12.13	No Advisory or Fiduciary Responsibility	 	100
	 	12.14	Independent Effect of Covenants	 	101
	 	12.15	Right of Setoff	 	101
	 	12.16	Confidentiality and Publicity	 	101
	 	12.17	Inconsistencies with Other Documents	 	103
	 	12.18	Patriot Act	 	103
	 	12.19	Bankruptcy Petition	 	104
	 	12.20	Limitation on Liability	 	104
	 	 	 	 	 
	XIII.	AGENT PROVISIONS;
    SETTLEMENT	 	104
	 	 	 	 	 
	 	13.1	Agent	 	104
	 	13.2	Lender Consent	 	109
	 	13.3	Sharing of Payments	 	110
	 	13.4	Reserved	 	110
	 	13.5	Payments; and Information	 	110
	 	13.6	Dissemination of Information	 	111
	 	13.7	Non-Funding Lender.	 	112
	 	13.8	Managing Agents	 	112
	 	 	 	 	 
	XIV.	TAXES	 	115
	 	 	 	 	 
	 	14.1	Taxes	 	115

 

	SCHEDULES
	 	 
	Schedule A	Disclosure Schedules
	Schedule B	Revolving Loan Amount
	Schedule C	Managing Agents, Branch Banks and Conduit Lenders
	Schedule D	Approved States
	Schedule E	[Reserved]
	Schedule F	Approved Make
	Schedule 6.8	Post-Closing Covenants
	 	 
	EXHIBITS
	 	 
	Exhibit A	Form of Borrowing Base Certificate
	Exhibit B	Form of Excess Collections Disbursement Request
	Exhibit C	Form of Monthly Collateral and Servicing Report
	Exhibit D	Form of Portfolio Documents
	Exhibit E	Form of Request for Revolving Advance
	Exhibit F	Form of Compliance Certificate
	Exhibit G	Underwriting Guidelines
	Exhibit H	Form of Reconcilement E-mail
	Exhibit I 	Charge Off Policy 
	 	 

 

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LOAN AND SECURITY AGREEMENT

 

THIS LOAN AND SECURITY
AGREEMENT (the “Agreement”) dated as of February 4, 2022, is entered into by and between ROF SPV I, LLC,
a Delaware limited liability company (“Borrower”), the Conduit Lenders (as hereinafter defined) from time to
time parties hereto, the Lenders (as hereinafter defined) from time to time parties hereto, the Managing Agents (as hereinafter defined)
from time to time parties hereto, and CREDIT SUISSE AG, New York Branch (“Credit Suisse”), as administrative,
payment and collateral agent for the Secured Parties (as hereinafter defined) (in such capacities, “Agent”).

 

WHEREAS, Borrower has
requested that make available to Borrower a revolving loan facility in a maximum principal amount of $25,000,000, the proceeds of which
shall be used by Borrower to purchase certain Eligible Receivables, to pay closing expenses and for payment of fees and expenses to Agent
and other Secured Parties, to pay for operating expenses and to distribute funds to its member subject to compliance with this Agreement;

 

WHEREAS, Borrower is
willing to grant Agent, for its benefit and the other Secured Parties, a lien on and security interest in the Collateral to secure the
Obligations and other financial accommodations being granted by Agent and the other Secured Parties to Borrower; and

 

WHEREAS, Lenders are
willing to make the Loans available to Borrower upon the terms and subject to the conditions set forth herein.

 

NOW, THEREFORE, in
consideration of the foregoing and for other good and valuable consideration, the receipt and adequacy of which hereby are acknowledged,
Borrower, Agent, Managing Agents and Lenders hereby agree as follows:

 

	I.	DEFINITIONS

 

		1.1	General Terms

 

(a)
For purposes of the Loan Documents and all Annexes, Schedules and Exhibits thereto, in addition to the definitions above and elsewhere
in this Agreement or the other Loan Documents, the terms listed in this Article I shall have the meanings given such terms in this
Article I.

 

(b) The following rules of
construction shall apply to this Agreement. The definitions of terms herein shall apply equally to the singular and plural forms of
the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter
forms. The words “include”, “includes” and “including” shall be deemed to be followed by the
phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the
word “shall”. The word “or” is not exclusive. The word “law” shall be construed as referring to
all statutes, rules, regulations, codes and other laws (including official rulings and interpretations thereunder having the force
of law or with which affected Persons customarily comply), and all judgments, orders and decrees, of all Governmental Authorities.
Unless the context requires otherwise (i) any definition of or reference to any agreement, instrument or other document herein
shall be construed as referring to such agreement, instrument or other document as from time to time amended, restated, supplemented
or otherwise modified (subject to any restrictions on such amendments, restatements, supplements or modifications set forth herein),
(ii) any definition of or reference to any statute, rule or regulation shall be construed as referring thereto as from time to
time amended, supplemented or otherwise modified (including by succession of comparable successor laws), (iii) any reference
herein to any Person shall be construed to include such Person’s successors and assigns (subject to any restrictions on
assignment set forth herein) and, in the case of any Governmental Authority, any other Governmental Authority that shall have
succeeded to any or all functions thereof, (iv) the words “herein”, “hereof” and
“hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any
particular provision hereof, (v) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to
refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement, (vi) in the computation of a period of time from a
specified date to a later specified date, the word “from” shall mean “from and including” and the words
“to” and “until” each shall mean “to by excluding” and (vii) the words “asset”
and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and
intangible assets and properties, including cash, securities, accounts and contract rights.

 

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(c)
All capitalized terms used which are not specifically defined shall have the meanings provided in Article 9 of the UCC in
effect on the date hereof to the extent the same are used or defined therein.

 

(d)
Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance
with GAAP, as in effect from time to time; provided that, if Borrower notifies Agent that Borrower requests an amendment to any
provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP or in the application thereof on the operation
of such provision (or if Agent notifies Borrower that Requisite Lenders request an amendment to any provision hereof for such purpose),
regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision
shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such
notice shall have been withdrawn or such provision amended in accordance herewith. Notwithstanding any other provision contained herein,
all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to
herein shall be made (i) without giving effect to any election under Accounting Standards Codification 825-10-25 (or any other Accounting
Standards Codification or Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities
of Borrower or any Subsidiary at “fair value”, as defined therein and (ii) without giving effect to any treatment of
Indebtedness in respect of convertible debt instruments under Accounting Standards Codification 470-20 (or any other Accounting Standards
Codification or Financial Accounting Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated
manner as described therein, and such Indebtedness shall at all times be valued at the full stated principal amount thereof. When calculating
Indebtedness for the Leverage Ratio and when calculating Tangible Net Worth, Contingent Obligations shall be excluded from the calculations.

 

“Account Debtor”
shall mean any individual or individuals that are obligors in respect of any Receivable.

 

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“Advance”
shall mean any borrowing under and advance of the Loan, including, but not limited to, each Revolving Advance and any Protective Advance.
Any amounts paid by Agent on behalf of Borrower under any Loan Document shall be an Advance for purposes of this Agreement.

 

“Affiliate”
or “affiliate” shall mean, as to any Person, any other Person who directly or indirectly controls, is under common
control with, is controlled by or is a director or officer of such Person. As used in this definition, “control” (including
its correlative meanings, “controlled by” and “under common control with”) means possession, directly or indirectly,
of the power to direct or cause the direction of management or policies (whether through ownership of voting securities or partnership
or other ownership interests, by contract or otherwise), provided that, in any event, any Person who owns directly or indirectly
ten percent (10%) or more of the securities having ordinary voting power for the election of the members of the board of directors or
other governing body of a corporation or ten percent (10%) or more of the partnership or other ownership interests of any other Person
(other than as a limited partner of such other Person) will be deemed to control such corporation, partnership or other Person.

 

“Agent”
shall have the meaning assigned to it in the introductory paragraph hereof.

 

“Agreement”
shall have the meaning assigned to it in the introductory paragraph hereof.

 

“Amortization Period”
shall mean the period beginning on the expiration or termination of the Revolving Period and ending on the Maturity Date.

 

“Applicable Law”
shall mean any and all federal, state, local and/or applicable foreign statutes, ordinances, rules, regulations, court orders and decrees,
administrative orders and decrees, and other legal requirements of any and every conceivable type applicable to the Loans, the Loan Documents,
Borrower, Indemnitor, Originator, Servicer, any Receivable and the related Account Debtor, as applicable, or any other Collateral or any
portion thereof, including, but not limited to, Credit Protection Laws, credit disclosure laws and regulations, the Fair Labor Standards
Act, and all applicable state and federal usury laws.

 

“Applicable Margin”
shall mean five percent (5.00%); provided, that the Applicable Margin for any Loan bearing interest at the Base Rate shall, in each case,
be one percent (1.00%) lower than the rate set forth in the immediately preceding clause.

 

“Applicable Rate”
shall have the meaning assigned to it in Section 2.2(a).

 

“Approved Make”
shall mean the make (including all related models) of vehicles listed in Schedule F, as amended from time to time in accordance
with Section 6.1(g), attached hereto or any other make and model approved in writing by Agent in its sole discretion.

 

“Approved State”
shall mean the states listed in Schedule D attached hereto or any other state approved in writing by Agent from time to time in
its sole discretion (which such schedule shall be deemed to be automatically updated upon such approval).

 

“Assignment of Vehicle
Titles” shall mean that certain Collateral Assignment of Motor Vehicle Title Liens dated as of the date of the initial Advance
executed by Borrower, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.

 

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“Available Amounts”
shall mean, as of any date of determination, any and all Collections on deposit in the Collection Account.

 

“Available Tenor”
shall mean, as of any date of determination and with respect to the then-current Benchmark, as applicable, any tenor for such Benchmark
or payment period for interest calculated with reference to such Benchmark, as applicable, that is or may be used for determining the
length of an Interest Period pursuant to this Agreement as of such date and not including, for the avoidance of doubt, any tenor for such
Benchmark that is then removed from the definition of “Interest Period” pursuant to clause (f) of Section 2.12.

 

“Average Daily Balance”
shall have the meaning assigned to it in Section 2.2(c).

 

“Backup Servicer”
shall mean such Person as Agent may engage in its sole discretion or such Person as Borrower may elect to engage that is acceptable to
Agent in its Permitted Discretion.

 

“Backup Servicer
Fee” shall mean any fee payable monthly by Borrower to Backup Servicer, such fee to be as specified in any applicable Backup
Servicing Agreement.

 

“Backup Servicing
Agreement” shall mean a Backup Servicing Agreement entered into by and among Agent, Borrower and Backup Servicer after the Closing
Date, regarding the provision of certain services by the Backup Servicer with respect to the Receivables, as the same may be amended,
modified, supplemented, restated, replaced or renewed in writing from time to time.

 

“Bank Branch”
shall mean any financial institution identified as a “Bank Branch” on Schedule C, as such Schedule may be amended,
restated or otherwise revised from time to time, and its successors or assigns (subject to Section 12.2).

 

“Bankruptcy Code”
shall mean Title 11 of the United States Code, 11 U.S.C. §§ 101 et. seq., as amended from time to time.

 

“Base Rate”
shall mean, for any day, a rate per annum equal to the greatest of (a) the Floor, (b) the Prime Rate in effect on such day, and (c) the
Federal Funds Rate in effect on such day plus 0.50%. Any change in the Base Rate due to a change in the Prime Rate or the Federal Funds
Rate shall be effective from and including the effective date of such change in the Prime Rate or the Federal Funds Rate, respectively.

 

“Benchmark”
shall initially mean Daily Simple SOFR; provided that, if a Benchmark Transition Event and its related Benchmark Replacement Date have
occurred with respect to the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement to the extent
that such Benchmark Replacement has replaced such prior benchmark rate pursuant to clause (b) or clause (c) of Section 2.12; and
provided further that if the Benchmark would be less than the Floor, the Benchmark will be deemed to be the Floor.

 

“Benchmark Adjustment”
shall mean, with respect to any Benchmark:

 

(1) for
purposes of determining the Interest Rate prior to the occurrence of any Benchmark Transition Event, the spread adjustment selected
or recommended by the Relevant Governmental Body for the replacement of 1-month USD LIBOR with a SOFR-based rate having
approximately the same 1-month interest payment period;

 

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(2) for
purposes of clauses (1), (2) and (3) of the definition of “Benchmark Replacement,” the first alternative set forth in the
order below that can be determined by the Agent:

 

(a) the
spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero)
as of the Reference Time such Benchmark Replacement is first set for such Interest Period that has been selected or recommended by the
Relevant Governmental Body for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for the applicable
Corresponding Tenor; or

 

(b) the
spread adjustment (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement is first set
for such Interest Period that would apply to the fallback rate for a derivative transaction referencing the ISDA Definitions to be effective
upon an index cessation event with respect to such Benchmark for the applicable Corresponding Tenor;

 

(3) for
purposes of clause (4) of the definition of “Benchmark Replacement,” the spread adjustment, or method for calculating or determining
such spread adjustment (which may be a positive or negative value or zero) that has been selected by the Agent in its Permitted Discretion
for the applicable Corresponding Tenor giving due consideration to (i) any selection or recommendation of a spread adjustment, or method
for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark
Replacement by the Relevant Governmental Body on the applicable Benchmark Replacement Date or (ii) any evolving or then-prevailing market
convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of
such Benchmark with the applicable Unadjusted Benchmark Replacement for asset-backed lending transactions substantially similar hereto;
provided that, in the case of clause (2) above, such adjustment is displayed on a screen or other information service that publishes such
Benchmark Adjustment from time to time as selected by the Agent in its reasonable discretion.

 

“Benchmark Replacement”
shall mean, for any Available Tenor, the first alternative set forth in the order below for the applicable Benchmark Replacement Date:

 

(1) if a Term SOFR
Transition Event has occurred, the sum of: (a) Term SOFR and (b) the related Benchmark Adjustment;

 

(2) if a Compounded
SOFR Transition Event has occurred, the sum of: (a) Compounded SOFR and (b) the related Benchmark Adjustment;

 

(3) the sum of:
(a) Daily Simple SOFR and (b) the related Benchmark Adjustment;

 

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(4) the sum of:
(a) the alternate benchmark rate that has been selected by the Agent in its Permitted Discretion as the replacement for the then-current
Benchmark for the applicable Corresponding Tenor giving due consideration to (i) any selection or recommendation of a replacement benchmark
rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention
for determining a benchmark rate as a replacement for the then-current Benchmark for asset-backed lending transactions substantially similar
hereto at such time and (b) the related Benchmark Adjustment;

 

provided that:

 

(i) if the Benchmark
Replacement is Term SOFR and (x) Term SOFR ceases to be available, (y) the Agent determines in its sole discretion that the use of Term
SOFR has become operationally, administratively or technically unfeasible, or (z) the Agent determines in its sole discretion that Term
SOFR has ceased to reflect market conditions, the Benchmark Replacement shall be (2), (3) or (4) above, as applicable;

 

(ii) if the Benchmark
Replacement is Compounded SOFR and (x) Compounded SOFR ceases to be available, (y) the Agent determines in its sole discretion that the
use of Compounded SOFR has become operationally, administratively or technically unfeasible, or (z) the Agent determines in its sole discretion
that Compounded SOFR has ceased to reflect market conditions, the Benchmark Replacement shall be (1), (3) or (4) above, as applicable;
and

 

(iii) if the Benchmark
Replacement is Daily Simple SOFR and (x) Daily Simple SOFR ceases to be available, (y) the Agent determines in its sole discretion that
the use of Daily Simple SOFR has become operationally, administratively or technically unfeasible, or (z) the Agent determines in its
sole discretion that Daily Simple SOFR has ceased to reflect market conditions, the Benchmark Replacement shall be (1), (2), or (4) above,
as applicable; and

 

(iv) the Agent shall
have the right to make any Benchmark Replacement Conforming Change that the Agent deems appropriate in its Permitted Discretion.

 

“Benchmark
Replacement Conforming Change” shall mean, with respect to any Benchmark Replacement, any technical, administrative or
operational change (including any change to the definition of “Base Rate,” the definition of “Business Day,”
the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing
of borrowing requests or prepayment, conversion or continuation notices, length of lookback periods, the applicability of breakage
provisions, and other technical, administrative or operational matters) that the Agent decides, in its reasonable discretion after
consultation with Borrower, may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to
permit the administration thereof by the Agent in a manner substantially consistent with market practice (or, if the Agent decides
that adoption of any portion of such market practice is not administratively feasible or if the Agent determines that no market
practice for the administration of such Benchmark Replacement exists, in such other manner of administration as the Agent decides,
in its reasonable discretion, is reasonably necessary in connection with the administration of this Agreement or any other Loan
Document).

 

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“Benchmark Replacement
Date” shall mean the earliest to occur of the following events with respect to the then-current Benchmark:

 

(1) in
the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the date on which the administrator of such
Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors
of such Benchmark (or such component thereof);

 

(2)  in
the case of clause (3) of the definition of “Benchmark Transition Event,” the date of the public statement or publication
of information referenced therein;

 

(3)    in
the case of a Term SOFR Transition Event that is not covered by clauses (1) or (2) above, the date that is thirty (30) days after the
date a Term SOFR Notice is provided to the Lenders and the Borrower pursuant to Section 2.12(c); and

 

(4)    in
the case of a Compounded SOFR Transition Event that is not covered by clauses (1) or (2) above, the date that is thirty (30) days after
the date a Compounded SOFR Notice is provided to the Lenders and the Borrower pursuant to Section 2.12(c).

 

For the avoidance of doubt,
(i) if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect
of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination
and (ii) the “Benchmark Replacement Date” will be deemed to have occurred in the case of clause (1) or (2) with respect to
any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors
of such Benchmark (or the published component used in the calculation thereof).

 

“Benchmark Transition
Event” shall mean the occurrence of one or more of the following events with respect to the then-current Benchmark:

 

(1)    a
public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used
in the calculation thereof) announcing that such administrator has ceased to provide all Available Tenors of such Benchmark (or such component
thereof), permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator
that will continue to provide any Available Tenor of such Benchmark (or such component thereof);

 

(2)  a
public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the
published component used in the calculation thereof), the Federal Reserve Board, the Federal Reserve Bank of New York, an insolvency
official with jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction
over the administrator for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution
authority over the administrator for such Benchmark (or such component), which states that the administrator of such Benchmark (or
such component) has ceased to provide all Available Tenors of such Benchmark (or such component thereof) permanently or
indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to
provide any Available Tenor of such Benchmark (or such component thereof);

 

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(3)    a
public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published
component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are no longer
representative;

 

(4)    a
Term SOFR Transition Event; or

 

(5)    a
Compounded SOFR Transition Event.

 

For the avoidance of doubt,
a “Benchmark Transition Event” will be deemed to have occurred for purposes of clauses (1), (2), and (3) above with respect
to any Benchmark if a public statement or publication of information set forth above has occurred with respect to each then-current Available
Tenor of such Benchmark (or the published component used in the calculation thereof).

 

“Benchmark Unavailability
Period” shall mean the period (if any) (x) beginning at the time that a Benchmark Replacement Date pursuant to clauses (1) or
(2) of that definition has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes
hereunder and under any Loan Document in accordance with Section 2.12 and (y) ending at the time that a Benchmark Replacement has
replaced the then-current Benchmark for all purposes hereunder and in accordance with Section 2.12.

 

“Blocked Account”
shall mean that certain deposit account at Wells Fargo Bank, National Association held in the name of Borrower, with account number [____],
or such successor account approved in writing by Agent in its sole discretion.

 

“Blocked Account
Control Agreement” shall mean that certain account control agreement by and among Agent, Borrower and Wells Fargo Bank, National
Association dated as of the Closing Date, which provides for Agent’s full dominion over the disposition of funds with respect to
the Blocked Account, as the same may be amended, modified, supplemented, restated, replaced or renewed in writing from time to time.

 

“Borrower”
shall have the meaning assigned to it in the introductory paragraph hereof.

 

“Borrowing
Base” shall mean as of any date of determination, an amount equal to (i) the product of seventy-five percent (75%) multiplied
by the excess of (A) the aggregate Receivable Balance due under or in respect of each Eligible Receivable pledged to Agent as
Collateral hereunder or pursuant to any other Loan Document, over (B) the Excess Concentration Amounts, if any, as of such date,
plus (ii) an amount equal to the aggregate amount of Excess Collections on deposit in the Collection Account, subject to adjustment
in accordance with the terms hereof, including Section 9.1(a).

 

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“Borrowing Base Certificate”
shall mean a Borrowing Base Certificate substantially in the form of Exhibit A, which includes in each instance a breakdown
of Receivables (Eligible Receivables and Receivables which no longer satisfy the eligibility criteria) held by Borrower.

 

“Business Day”
shall mean any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the laws of, or
are in fact closed in, the State of New York.

 

“Cash Equivalents”
shall mean (a) securities issued, or directly and fully guaranteed or insured, by the United States or any agency or instrumentality thereof
(provided, that the full faith and credit of the United States is pledged in support thereof) having maturities of not more than
six (6) months from the date of acquisition, (b) U.S. dollar denominated time deposits, certificates of deposit and bankers’ acceptances
of (i) any domestic commercial bank of recognized standing having capital and surplus in excess of $1,000,000,000, or (ii) any bank (or
the parent company of such bank) whose short-term commercial paper rating from Standard & Poor’s Ratings Services (“S&P”)
is at least A-2 or the equivalent thereof or from Moody’s Investors Service, Inc. (“Moody’s”)
is at least P-2 or the equivalent thereof in each case with maturities of not more than six months from the date of acquisition (any
bank meeting the qualifications specified in clauses (b)(i) or (ii), an “Approved Bank”), (c) repurchase obligations
with a term of not more than seven days for underlying securities of the types described in clause (a), above, entered into with any Approved
Bank, (d) commercial paper issued by any Approved Bank or by the parent company of any Approved Bank and commercial paper issued by, or
guaranteed by, any industrial or financial company with a short-term commercial paper rating of at least A-2 or the equivalent thereof
by S&P or at least P-2 or the equivalent thereof by Moody’s, or guaranteed by any industrial company with a long term unsecured
debt rating of at least A or A-2, or the equivalent of each thereof, from S&P or Moody’s, as the case may be, and in each case
maturing within six months after the date of acquisition and (e) investments in money market funds substantially all of whose assets are
comprised of securities of the type described in clauses (a) through (d) above

 

“Change in Law”
shall mean the occurrence, after the date of this Agreement (or with respect to any Lender, if later, after the date on which such Lender
becomes a Lender), of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any
change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any Governmental
Authority, or (c) the making or issuance of any request, rules, guideline, requirement or directive (whether or not having the force
of law) by any Governmental Authority; provided however, that notwithstanding anything herein to the contrary, (i) the Dodd-Frank
Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives thereunder, issued in
connection therewith or in implementation thereof, and (ii) all requests, rules, guidelines, requirements and directives promulgated
by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United
States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”
regardless of the date enacted, adopted, issued or implemented.

 

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“Change of Control”
shall mean the occurrence of any of the following:

 

(a)
Parent at any time for any reason ceases to own, in the aggregate, 100% of the issued and outstanding Equity Interests of Originator;
or

 

(b)
Originator at any time for any reason ceases to own, in the aggregate, 100% of the issued and outstanding Equity Interests of Borrower,
free and clear of all Liens (except for any Permitted Liens), rights, options, warrants or other similar agreements or understandings;
or

 

(c)
any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange
Act of 1934, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity
as trustee, agent or other fiduciary or administrator of any such plan), other than a Permitted Holder or Oaktree and its Affiliates,
becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that
a person or group shall be deemed to have “beneficial ownership” of all securities that such person or group has the right
to acquire (such right, an “option right”), whether such right is exercisable immediately or only after the passage of time),
directly or indirectly, of more than the greater of (x) 40.0% or more of the capital stock of the Parent entitled to vote for members
of the board of directors or equivalent governing body of the Parent on a fully diluted basis (and taking into account all such securities
that such person or group has the right to acquire pursuant to any option right) (the “Voting Stock”) and (y) the percentage
of Voting Stock owned, directly or indirectly, beneficially by the Permitted Holders and Oaktree and its Affiliates; or

 

(d)
any “change in/of control” or “sale” or “disposition” or “merger” or similar event
as defined in any certificate of incorporation or formation or statement of designations or operating agreement or partnership agreement
or trust agreement of Borrower, Originator or Parent or in any document governing indebtedness for borrowed money of such Person (other
than any Loan Documents) in excess of $35,000,000 (exclusive of indebtedness for floor plan and inventory loan facilities) which the holder
of such indebtedness has accelerated or otherwise required payment of such indebtedness prior to the maturity date thereof as a result
of such “change in/of control” or “sale” or “disposition” or “merger” or similar event;
or

 

(e)
Scott Raymer ceases to be employed directly or indirectly by Parent and in charge of day to day senior management decisions of
Borrower, and is not replaced by one or more Persons that has experience and qualifications satisfactory to Agent in its Permitted Discretion,
in each case within one-hundred twenty (120).

 

“Charge-Off Policy”
shall mean Parent’s charge-off policy, as set forth on Exhibit I, as such may be updated from time to time pursuant to the
terms of this Agreement.

 

“Charter and
Good Standing Documents” shall mean, for the applicable Person, (a) a copy of the certificate of incorporation,
certificate of formation, statutory certificate of trust or other applicable charter document certified as of a date not more than
thirty (30) days before the Closing Date by the applicable Governmental Authority of the jurisdiction of incorporation of such
Person, (b) a copy of the bylaws, operating agreement, trust agreement or other applicable organizational document certified as
of the Closing Date by an authorized officer or member of such Person, (c) a certificate of good standing or existence, as
applicable, as of a date not more than thirty (30) days before the Closing Date issued by the applicable Governmental Authority of
the jurisdiction of incorporation of such Person and of every other jurisdiction in which such Borrower is otherwise required to be
in good standing, and (d) copies of the resolutions of the Board of Directors (or other applicable governing body or trustee)
and, if required, stockholders or other equity owners authorizing the execution, delivery and performance of the Loan Documents to
which such Person, as applicable, is a party, certified by an authorized officer or member of such Person as of the Closing
Date.

 

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“Closing”
shall mean the satisfaction, or written waiver by Agent, Managing Agents and Lenders, of all of the conditions precedent set forth in
this Agreement required to be satisfied prior to the consummation of the transactions contemplated hereby.

 

“Closing Date”
shall mean the date of this Agreement.

 

“Code”
shall mean the Internal Revenue Code of 1986, as amended, and all rules and regulations promulgated thereunder.

 

“Collateral”
shall have the meaning assigned to such term in Section 2.8.

 

“Collateral Reserve”
shall mean the reserve established from funds deducted from each Revolving Advance and/or otherwise pursuant to Section 2.4 hereof
that are established as a cash collateral reserve to be held in the Collateral Reserve Account.

 

“Collateral Reserve
Account” shall mean the deposit account number [_______] maintained at Collection Account Bank.

 

“Collateral Reserve
Account Control Agreement” shall mean that certain account control agreement by and among Agent, Borrower and Collection Account
Bank dated as of the Closing Date, which provides for direct and springing instructions for the disposition of funds from the Collateral
Reserve Account as directed by Agent following an Event of Default or any Early Wind-Down Trigger Event , as the same may be amended,
modified, supplemented, restated, replaced or renewed in writing from time to time.

 

“Collateral Reserve
Amount” shall mean, as of any date of determination (and after giving effect to any Revolving Advances being made on such date),
an amount equal to the product of (A) 1.00% and (B) the then applicable aggregate outstanding principal balance of Revolving Advances
as of such date.

 

“Collection Account”
shall mean that certain deposit account at Collection Account Bank, held in the name of Borrower, with account number [_____], or such
other replacement deposit account acceptable to Agent in its sole discretion.

 

“Collection Account
Bank” shall mean Wells Fargo Bank, National Association and any successor thereto.

 

“Collection
Account Control Agreement” shall mean that certain account control agreement by and among Agent, Borrower and Collection
Account Bank dated as of the Closing Date, which provides for direct and springing instructions for the disposition of funds from
the Collection Account as directed by Agent following an Event of Default or any Early Wind-Down Trigger Event, as the same may be
amended, modified, supplemented, restated, replaced or renewed in writing from time to time

 

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“Collections”
shall mean, individually and collectively, as it relates to any and all Receivables, (a) all Scheduled Payments, interest, principal,
prepayments (both voluntary and mandatory), fees, late charges or other amounts collected from or on behalf of the Account Debtors on
the Receivables, (b) all amounts received pursuant to a Permitted Disposition related to Collateral released in connection therewith,
(c) all liquidation proceeds collected from the sale or disposition of any Receivable and/or any property related thereto, whether to
a third party purchaser or an Affiliate of Borrower and (d) any and all proceeds of Collateral and/or other amounts received of any and
every description payable to Borrower by or on behalf of such Account Debtor pursuant to the applicable Receivable, the related Portfolio
Documents, or any other related documents or instruments, including judgment awards or settlements, and refinancing proceeds.

 

“Compounded SOFR”
shall mean, with respect to any U.S. Government Securities Business Day:

 

(1) the applicable
compounded average of SOFR for the Corresponding Tenor as published on the SOFR Administrator’s Website on such U.S. Government
Securities Business Day at the SOFR Determination Time; or

 

(2) if the rate
specified in (1) above does not so appear, the applicable compounded average of SOFR for the Corresponding Tenor as published on the SOFR
Administrator’s Website in respect of the first preceding U.S. Government Securities Business Day for which such rate appeared on
the SOFR Administrator’s Website.

 

“Compounded SOFR
Notice” shall mean a notification by the Agent to the Lenders and the Borrower of the occurrence of a Compounded SOFR Transition
Event.

 

“Compounded SOFR
Transition Event” shall mean the determination by the Agent in its sole discretion that Compounded SOFR (a) has been (x) applied
in any asset-backed lending transaction substantially similar hereto where the Agent or one of its affiliates is a lender or (y) adopted
by a significant number of market participants for use in asset-backed lending transactions substantially similar hereto, and (b) is operationally,
administratively and technically feasible for the Agent.

 

“Conduit Lender”
shall mean any special purpose entity identified as a “Conduit Lender” on Schedule C, as such Schedule may be amended,
restated or otherwise revised from time to time, and its successors or assigns (subject to Section 12.2)..

 

“Connection Income
Taxes” shall mean Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise
Taxes or branch profits Taxes.

 

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“Contingent Obligations”
shall mean, as to any Person, any obligation of such Person guaranteeing any Indebtedness, leases, dividends or other obligations (“primary
obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or
indirectly, including any obligation of such Person, (a) to purchase any such primary obligation or any property constituting direct
or indirect security therefor, (b) to advance or supply funds (i) for the purchase or payment of any such primary obligation or (ii)
to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary
obligor, (c) to purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation
of the ability of the primary obligor to make payment of such primary obligation, or (d) otherwise to assure or to hold harmless the
owner of such primary obligation against loss in respect thereof, provided, however, that the term “Contingent Obligation”
shall not include indorsements of instruments for deposit or collection in the ordinary course of business or any other contingent obligations
in the nature of indemnities incurred in the ordinary course of business. The amount of any Contingent Obligation shall be deemed to
be an amount equal to the stated or determinable amount of the primary obligation in respect of which such Contingent Obligation is made
or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof (assuming such Person is required
to perform thereunder) as determined by such Person in good faith.

 

“Contract Right”
shall mean any right of Borrower to payment under a contract for the sale or lease of goods or the rendering of services, which right
is at the time not yet earned by performance.

 

“Corresponding Tenor”
with respect to any Available Tenor shall mean, as applicable, either a tenor (including overnight) or an interest payment period having
approximately the same length (disregarding business day adjustment) as such Available Tenor.

 

“CP” shall
mean the commercial paper notes or other debt securities issued from time to time by means of which a Conduit Lender (directly or indirectly)
obtains financing.

 

“Credit Protection
Laws” shall mean all federal, state and local laws in respect of the business of extending credit to borrowers, including the
Truth in Lending Act (and Regulation Z promulgated thereunder), Equal Credit Opportunity Act, Fair Credit Reporting Act, Fair Debt Collection
Practices Act, GLBA, Financial Institutions Reform, Recovery and Enforcement Act of 1989, as amended, anti-discrimination and fair lending
laws, laws relating to servicing procedures or maximum charges and rates of interest, and other similar laws, each to the extent applicable,
and all applicable regulations in respect of any of the foregoing.

 

“Custodial Account”
shall mean that certain custodial account in the name of Servicer, for the benefit of Borrower, as described in the Multi-Party Agreement.

 

“Customer Loan”
shall mean a loan made by Originator or an Originating Dealer (in each case, using the current “Banker’s System” form
Customer Loan Documents for each applicable jurisdiction maintained by Reynolds and Reynolds) to an Account Debtor the proceeds of which
were used by the Account Debtor to finance the purchase of a vehicle and that is secured by a security interest in such vehicle, which
loan was originated by Originator or an Originating Dealer and then sold to Borrower pursuant to and in accordance with the Purchase
and Sale Agreement.

 

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“Customer Loan Documents”
shall mean with respect to each Customer Loan, each installment sale contract, each installment loan agreement or the like, each promissory
note, each security agreement, each extended warranty and all other documents, instruments and certificates executed and/or delivered
by Originator, Originating Dealer or an Account Debtor in connection therewith, including amendments and modifications thereto and all
instruments, security agreements, deeds of trust, mortgages, guaranties, financing statements and other documentation evidencing any security
for such Customer Loan.

 

“Daily Simple SOFR”
shall mean, for any day, SOFR, with conventions (including, without limitation, a lookback of at least two (2) Business Days) established
by the Agent in its Permitted Discretion in accordance with the conventions for this rate selected or recommended by the Relevant Governmental
Body for determining “Daily Simple SOFR” for business loans; provided that, if the Agent determines that any such convention
is not administratively, operationally, or technically feasible for the Agent, then the Agent may establish another convention in its
Permitted Discretion.

 

“Debtor Relief Law”
shall mean, collectively, the Bankruptcy Code and all other United States or foreign applicable liquidation, conservatorship, bankruptcy,
moratorium, rearrangement, receivership, insolvency, reorganization or similar debtor relief laws from time to time in effect affecting
the rights of creditors generally, as amended from time to time.

 

“Default”
shall mean any event, fact, circumstance or condition that, with the giving of applicable notice or passage of time, if any, or both,
could constitute or be or result in an Event of Default.

 

“Default Rate”
shall have the meaning assigned to it in Section 3.2.

 

“Defaulted Ratio”
shall mean, as of the last day of any calendar month, the percentage equivalent of a fraction, (a) the numerator of which is the aggregate
Receivable Balance of all Defaulted Receivables included in the Collateral at any time that became Defaulted Receivables during such calendar
month minus all Collections received on each such Defaulted Receivable from and after the date such Receivable became a Defaulted Receivable
hereunder and (b) the denominator of which is the aggregate Receivable Balance of all Receivables included in the Collateral as of the
beginning of such month.

 

“Defaulted Receivable”
shall mean any Receivable (i) that has been or should be deemed charged-off by the Servicer in accordance with the Charge-Off Policy,
or (ii) that, at any point is one hundred twenty (120) days or more Past Due.

 

“Delinquency Ratio”
shall mean, as of the last day of any calendar month, the percentage equivalent of a fraction, (a) the numerator of which is the aggregate
Receivable Balance of all Delinquent Receivables included in the Collateral as of the last day of such calendar month and (b) the denominator
of which is the aggregate Receivable Balance of all Receivables included in the Collateral as of the beginning of such calendar month.

 

“Delinquent Receivable”
shall mean a Receivable that is not otherwise a Defaulted Receivable and is at any time more than sixty (60) calendar days Past Due.

 

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“Deposit Account”
shall mean, individually and collectively, the Operating Account, the Blocked Account, the Collection Account, the Collateral Reserve
Account and any bank or other depository accounts of Borrower.

 

“Deposit Account
Control Agreements” shall mean collectively the Blocked Account Control Agreement, Collateral Reserve Account Control Agreement,
Collection Account Control Agreement and the Operating Account Control Agreement. On the Closing Date, the Collateral Reserve Account
Control Agreement, Collection Account Control Agreement and the Operating Account Control Agreement is a single agreement.

 

“Dollars”
and “$” shall mean lawful money of the United States of America.

 

“Down Payment”
shall mean, with respect to a Financed Vehicle securing a Receivable, cash amounts or the value of trade-ins paid or provided by the Account
Debtor in connection with the acquisition of Financed Vehicle.

 

“E-Fax”
shall mean any system used to receive or transmit faxes electronically.

 

“Early Wind-Down
Trigger Event” shall mean the occurrence of any one of the following unless otherwise waived by Agent in its sole discretion:

 

		(i)	if, as of the last day of any calendar month, the Three-Month
Average Delinquency Ratio is greater than four and one-half of one percent (4.50%);

 

		(ii)	if, as of the last day of any calendar month, the Three-Month
Average Defaulted Ratio is greater than two and one-quarter of one percent (2.25%);

 

		(iii)	if, as of the last day of any calendar month, the Three-Month
Average Excess Spread is less than two percent (2.00%);

 

		(iv)	if, as of any date of determination, the aggregate market capitalization
of Parent shall be less than $50,000,000; or

 

		(v)	if, as of the end of any calendar month, the actual Vintage
Quarter Charged-Off Percentage for any Vintage Quarter Pool is more than the percentage set forth below corresponding to the applicable
Month From Vintage Quarter Pool Origination Date:

 

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	Month From Vintage
    Quarter Pool Origination Date	Vintage
    Quarter Charged-Off Percentage
	1	1.00%
	2	2.00%
	3	3.00%
	4	4.00%
	5	5.00%
	6	6.00%
	7	7.00%
	8	8.00%
	9	9.00%
	10	9.50%
	11	10.00%
	12	10.50%
	13	11.00%
	14	11.50%
	15 and each month thereafter	12.00%

 

“Electronic Collateral
Control Agreement” shall mean that certain Electronic Collateral Control Agreement by and among, Agent, Borrower and E-Vault
Provider, as the same may be amended, restated, replaced or otherwise modified from time to time.

 

“Electronic Transmission”
shall mean each document, instruction, authorization, file, information and any other communication transmitted, posted or otherwise made
or communicated by electronic mail (“e-mail”) or E-Fax, or otherwise to or from an electronic system or other equivalent service.

 

“Eligible Receivables”
shall mean those Receivables that meet, as of any date of determination, all of the following requirements:

 

(a)
payments under such Receivable are due in Dollars and the Portfolio Documents do not permit the currency in which such Receivable
is payable to be changed, and all previous payments have been made by the related Account Debtor and not by Originator, Servicer, Borrower
or any Affiliate thereof;

 

(b)
such Receivable and all related Portfolio Documents shall have been duly authorized, shall be in full force and effect and shall
represent a legal, or valid and binding and absolute and unconditional payment obligation of the applicable Account Debtor
enforceable against such Account Debtor in accordance with its terms for the amount outstanding thereof without any right of
rescission, offset, counterclaim, dispute, discount, adjustment or defense, except to the extent that enforceability may be limited
by Debtor Relief Laws and general principles of equity, and is not contingent in any respect for any reason, there are no conditions
precedent to the enforceability or validity of the Receivable that have not been satisfied or waived, and the Account Debtor has no
bona fide claim against Borrower, Servicer or Originator or any Affiliate thereof, and there are no restrictions or prohibitions on
the sale, transfer, or assignment of such Receivable by the holder thereof as of any date of determination;

 

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(c)
the retail installment contract and all other Portfolio Documents requiring the signature of an Account Debtor were executed by
Account Debtor or via a power of attorney with a digital or electronic signature in accordance with the Uniform Electronic Transaction
Act or, as applicable to the jurisdiction governing such Portfolio Documents, the Electronic Signatures in Global and National Commerce
Act (E-Sign Act), including all consumer consent and other applicable provisions thereof;

 

(d)
the Account Debtor with respect to such Receivable shall not have engaged in fraud in connection with such Receivable and is not
the subject of any proceeding under any Debtor Relief Law;

 

(e)
no portion of any Scheduled Payment for such Receivable shall (i) be delinquent at the time such Receivable is pledged as Collateral
or (ii) more than sixty (60) days delinquent at any time thereafter;

 

(f)
no instrument of release or waiver has been executed by Borrower or Servicer in connection with any Portfolio Document related
to such Receivable, and the Account Debtor has not been released from its obligations under such Receivable in whole, or in part;

 

(g)
none of Originator, Servicer, Parent nor Borrower shall be engaged in any adverse proceeding or other adverse litigation with the
applicable Account Debtor related to such Receivable;

 

(h)
such Receivable shall have been originated by Originator in accordance with the applicable Underwriting Guidelines in connection
with an extension of credit made to an Account Debtor to finance such Account Debtor’s acquisition of a Financed Vehicle;

 

(i)
such Receivable and related Portfolio Documents shall not have been amended or modified from their original terms provided neither
(x) a change to the date a monthly payment is due that does not exceed fifteen (15) calendar days nor (y) a technical change to the terms
of a Receivable via a “corrective action letter” that is necessary to fix a mutual mistake in the terms thereof that does
not impact any payment terms, shall be deemed to be an “amendment or modification” pursuant to this clause (i);

 

(j)
such Receivable (and all Portfolio Documents entered into in connection therewith), the origination thereof by Originator, acquisition
thereof by Borrower and servicing and administration thereof by Servicer shall comply in all material respects with all Applicable Laws,

 

(k)
such Receivable shall not otherwise be subject to a Level Two Regulatory Event,

 

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(l)
 all statutory or other applicable cancellation or rescission periods related to such Receivable shall have expired;

 

(m)
all amounts and material information in respect of such Receivable furnished by Borrower or Servicer to Agent shall be true and
correct and undisputed by the Account Debtor thereon or any Indemnitor thereof;

 

(n)
such Receivable shall not be a renewal, extension or refinancing of any Receivable that was previously an Ineligible Receivable;

 

(o)
such Receivable shall not be evidenced by a judgment or have been reduced to judgment;

 

(p)
such Receivable shall not be a revolving line of credit;

 

(q)
payments in respect of such Receivable shall be due and payable monthly, in equal installments of interest and principal resulting
in full amortization thereof on the maturity date set forth in the Portfolio Documents governing such Receivable;

 

(r)
such Receivable was originated in accordance with, and acquired by Borrower pursuant to, a Purchase and Sale Agreement, and such
Receivable shall be 100% owned directly by Borrower, and no other Person (other than Borrower and Agent, for the benefit of the Lenders)
owns or claims any legal or beneficial interest therein or Lien thereon, other than Permitted Liens;

 

(s)
the Portfolio Documents with respect to such Receivable constitute “electronic chattel paper” (as such term is defined
in the UCC) and Agent has “control” of such Receivable pursuant to and in accordance with the Electronic Collateral Control
Agreement.

 

(t)
the applicable Account Debtor shall (i) have personal recourse for all amounts owed with respect to such Receivable and (ii) be
a natural person that is at least eighteen (18) years of age and not be a governmental entity or any other Governmental Authority, (iii)
have a valid electronic mail account and (iv) have a United States Social Security number;

 

(u)
Reserved;

 

(v)
Verification Agent shall have received access to all the Verification Deliverables for such Receivable, and shall have delivered
to Agent a certification pursuant to the Verification Agreement covering such Receivable, without exceptions, except as waived by Agent;
provided, however, with respect to Receivables pledged in connection with the initial Advance under this certification, the above referenced
certification shall not be required for eligibility purposes hereunder until the date that is thirty (30) days after the Closing Date;

 

(w)
the representations and warranties of Originator made with respect to such Receivable in the applicable Purchase and Sale Agreement
were true and correct in all material respects when made and such Receivable was purchased pursuant to such Purchase and Sale Agreement;

 

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(x)
 such Receivable represents the undisputed, bona fide transaction created by the lending of money by Originator in the ordinary
course of Originator’s business and completed in accordance with the terms and provisions contained in the related Portfolio Documents;

 

(y)
such Receivable is not an Originator Repurchase Receivable;

 

(z)
such Receivable is not a Defaulted Receivable;

 

(aa)
the Account Debtor in relation to such Receivable is not an officer, director, manager, employee of Parent, Borrower or Originator
or any of their Affiliates;

 

(bb)
the original term to maturity of such Receivable does not exceed eighty-four (84) months;

 

(cc)
such Receivable shall have been originated exclusively for consumer purposes and not commercial purposes;

 

(dd)
the original principal balance of such Receivable does not exceed $40,000;

 

(ee)
the applicable Account Debtor has a FICO Score equal to or greater than 550 (excluding Account Debtors with no FICO Score);

 

(ff)
such Receivable shall have a per annum interest rate greater than or equal to eight percent (8.00%);

 

(gg)
the Loan-to-Value Ratio with respect to such Receivable as of the date of origination of such Receivable shall not exceed one-hundred
and thirty five percent (135%);

 

(hh)
the form of Portfolio Documents relating to such Receivable shall be in the form of Exhibit D attached hereto or shall otherwise
be in form and content consented to by Agent (such consent to not be unreasonably withheld or delayed);

 

(ii)
such Receivable and/or the related Account Debtor shall not have been deemed to be in default by Servicer in accordance with Servicer’s
standard practices and/or the applicable Servicing Agreement at any time and such Receivable is otherwise being serviced by the Servicer
in accordance with generally accepted servicing practices;

 

(jj)
Borrower has not received any written notice of any bona fide disputes by any Account Debtor thereon or any Indemnitor thereof
in respect of such Receivable;

 

(kk)
no Account Debtor with respect to such Receivable is a “foreign person” within the meaning of Sections 1445 and
7701 of the Code (i.e. no Account Debtor is a non-resident alien, foreign corporation, foreign partnership, foreign trust or foreign estate,
as those terms are defined in the Code and regulations promulgated thereunder);

 

(ll)
the Receivable has been originated in an Approved State;

 

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(mm) the Financed Vehicle
securing such Receivable is an Approved Make;

 

(nn)
the Financed Vehicle securing such Receivable shall have an odometer reading of 60,000 miles or less as of the Origination Date
of such Receivable;

 

(oo)
the Account Debtor with respect to such Receivable was not an Account Debtor with respect to any Receivable that was previously
an Ineligible Receivable at or immediately prior to the time of origination of such Receivable;

 

(pp)
a Down Payment shall have made by the Account Debtor in an amount equal to at least ten percent (10%) of the selling price of the
Financed Vehicle relating to such Receivable at the time of origination and no portion of such down payment has been paid or loaned to
the Account Debtor by Originator or Borrower, and the Account Debtor has received no cash or other rebates of any kind in connection with
the acquisition of such Financed Vehicle (unless the same reduced the Receivables Balance);

 

(qq)
(A) the Receivable represents the personal obligation of an Account Debtor to repay a loan or extension of credit made to finance
such Account Debtor’s acquisition of a Financed Vehicle, and the payment of such Receivable is secured by a first priority, perfected
Lien and security interest in such Financed Vehicle; (B) the related Financed Vehicle shall not currently be in foreclosure or repossession
by Borrower or its Affiliates, or any third party acting on their behalf; (C) within ninety calendar days of the date Borrower acquires
such Receivable, the original Title reflects either Originator (pursuant to the Nominee Agreement) or Borrower as the first lienholder
on the Financed Vehicle; (D) at the time such Receivable was originated or acquired by Borrower, the Financed Vehicle securing such Receivable
shall have liability insurance coverage acceptable to Borrower in accordance with its standard procedures; and (E) the Financed Vehicle
securing such Receivable is not a wrecked vehicle;

 

(rr)
such Receivable is not subject to and will not result in any tax, fee or governmental charge payable by Borrower or any other Person
to any federal, state or local Governmental Authority unless the Account Debtor thereon is required under the terms of the applicable
Portfolio Documents to make “gross up” payments that cover the full amount of such withholding tax on an after-tax basis (other
than with respect to customary “excluded taxes”);

 

(ss)
such Receivable shall be subject to the Servicing Agreement in form and substance acceptable to Agent in its sole discretion;

 

(tt)
such Receivable is not the result of a consumer-to-consumer transaction;

 

(uu)
the debt-to-income ratio as determined by Agent in accordance with the Underwriting Guidelines of the Account Debtor with respect
to such Receivable shall not exceed sixty percent (60%) as of the Origination Date of such Receivable;

 

(vv)
the payment-to-income ratio as determined by Agent in accordance with the Underwriting Guidelines of the Account Debtor with respect
to such Receivable shall not exceed twenty percent (20%) as of the Origination Date of such Receivable;

 

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(ww) the Account Debtor
with respect to such Receivable shall have comprehensive and collision insurance on the Financed Vehicle with a deductible of $1,000 or
less at the time the Receivable is pledged and at all times thereafter;

 

(xx)
the Financed Vehicle securing such Receivable has not been foreclosed upon or repossessed by Originator, Servicer, Parent or Borrower
except in connection with an ordinary course repossession or foreclosure with respect to such Financed Vehicle previously owned by a Person
other than the Account Debtor with respect to such Receivable; and

 

(yy)
such Receivable shall not have been referred to an attorney for collection or be the subject of legal proceedings.

 

“Equity Interests”
shall mean, with respect to any Person, its equity ownership interests, its common stock and any other capital stock or other equity ownership
units of such Person authorized from time to time, and any other shares, options, interests, participations or other equivalents (however
designated) of or in such Person, whether voting or nonvoting, including common stock, options, warrants, preferred stock, phantom stock,
membership units (common or preferred), stock appreciation rights, membership unit appreciation rights, convertible notes or debentures,
stock purchase rights, membership unit purchase rights and all securities convertible, exercisable or exchangeable, in whole or in part,
into any one or more of the foregoing.

 

“ERISA”
shall mean the Employee Retirement Income Security Act of 1974, as amended, and the regulations thereunder.

 

“E-Vault Provider”
shall mean EOriginal, Inc., as the provider of the “electronic vault” under the Electronic Collateral Control Agreement.

 

“Event of Default”
shall mean the occurrence of any event defined as such set forth in Article VIII.

 

“Excess Collections”
shall mean, as of any date of determination, an amount equal to the amount of cash on deposit in the Collection Account in excess of the
amounts necessary, pursuant to the Borrower’s calculation after delivery of an updated Borrowing Base Certificate, to satisfy an
amount equal to the product of (a) one and one-quarter (1.25) multiplied by (b) all estimated accrued and unpaid interest fees
and principal payments that will be payable on the next Payment Date pursuant to Section 2.4(a)(i) through (vii) on the
next Payment Date to occur.

 

“Excess Collections
Disbursement Request” shall mean a written request for a disbursement or application of Excess Collections hereunder substantially
in the form of Exhibit B hereto.

 

“Excess Concentration
Amounts” shall mean, as of any date of determination and without duplication, the aggregate Receivable Balance of Eligible Receivables
that cause the applicable Excess Concentration Limit(s) to not be met.

 

“Excess Concentration
Limits” shall mean the following requirements during the Revolving Period:

 

(a)
 The weighted average FICO Score for the applicable Account Debtors in the Financed Portfolio shall be greater than or equal to
630;

 

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(b)
The weighted average Loan-to-Value Ratio with respect to the Financed Portfolio shall be less than or equal to 115%.

 

(c)
The weighted average initial principal amount of the Receivables in the Financed Portfolio shall be less than or equal to $17,000;

 

(d)
The weighted average original term to maturity of the Financed Portfolio shall be less than or equal to seventy-one (71) calendar
months;

 

(e)
The weighted average total mileage set forth on the odometer of the Financed Vehicles in the Financed Portfolio shall be less than
or equal to 30,000 miles;

 

(f)
The weighted average debt-to-income ratio as determined by Agent in accordance with the Underwriting Guidelines of Account Debtors
obligated under Receivables in the Financed Portfolio shall be less than or equal to forty-five percent (45%) (such weighted average to
be weighted by Dollars);

 

(g)
The weighted average payment-to-income ratio as determined by Agent in accordance with the Underwriting Guidelines of Account Debtors
obligated under Receivables in the Financed Portfolio shall be less than or equal to twelve percent (12%) (such weighted average to be
weighted by Dollars);

 

(h)
The weighted average annualized yield shall be greater than or equal to fifteen percent (15%);

 

(i)
No more than ten percent (10%) (as determined by aggregate Receivables Balance) of the Financed Portfolio shall have FICO Scores
less than or equal to 550 or no FICO Score;

 

(j)
No more than seventy percent (70%) (as determined by aggregate Receivables Balance) of the Financed Portfolio shall consist of
Receivables originated in connection with Financed Vehicles that are characterized (on an aggregate basis) as the same Approved Make;

 

(k)
(1) at all times prior to the date that the aggregate outstanding Advances under this Agreement exceeds $25,000,000, no more than
(x) forty percent (40%) (as determined by aggregate Receivables Balance) of the Financed Portfolio shall consist of Receivables with
Account Debtors who were domiciled in any individual state (at the time of the origination of such Receivable) and (y) seventy
percent (70%) as determined by aggregate Receivables Balance of the Financed Portfolio shall consist of Receivables with Account
Debtors who were domiciled in any of the three (3) largest state concentrations with respect to the Financed Portfolio and (2) at
all times after the date that the aggregate outstanding Advances under this Agreement exceeds $25,000,000, no more than (x)
twenty-five percent (25%) (as determined by aggregate Receivables Balance) of the Financed Portfolio shall consist of Receivables
with Account Debtors who were domiciled in any individual state (at the time of the origination of such Receivable) and (y) sixty
percent (60%) as determined by aggregate Receivables Balance of the Financed Portfolio shall consist of Receivables with Account
Debtors who were domiciled in any of the three (3) largest state concentrations with respect to the Financed Portfolio;

 

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(l)
No more than fifteen percent (15%) (as determined by aggregate Receivables Balance) of the Financed Portfolio shall consist of
Receivables with an original term to maturity of greater than seventy-two (72) calendar months;

 

(m)
No more than forty-five percent (45%) (as determined by aggregate Receivables Balance) of the Financed Portfolio shall consist
of Receivables with a Loan-to-Value Ratio of greater than one hundred twenty five (125%); and

 

(n)
No more than three percent (3%) (as determined by aggregate Receivables Balance) of the Financed Portfolio shall consist of Receivables
that are greater than thirty (30) days contractually past due but less than sixty (60) days contractually past due.

 

“Excess Spread”
shall mean, as of the last day of any Interest Period, (a) a fraction (expressed as a percentage) (i) the numerator of which is the sum
of (w) all interest and fees collected in the Collection Account during such Interest Period with respect to Receivables pledged hereunder,
plus (x) all amounts collected in the Collection Account during such Interest Period in respect of Receivables that were Defaulted Receivables
as of the beginning of such Interest Period , less (y) the sum of (A) the interest paid by Borrower hereunder on the related Payment
Date in respect of such Interest Period and (B) the expenses paid by the Borrower on the related Payment Date to Servicer pursuant to
Section 2.4(a)(ii) in respect of such Interest Period, less (z) the Receivable Balance of all Receivables pledged hereunder
that became Defaulted Receivables (calculated as of the date such Receivable became a Defaulted Receivable hereunder) during such Interest
Period, and (ii) the denominator of which is the Receivable Balance of all Eligible Receivables at such time of determination (but excluding,
for purposes of this clause (ii), all Eligible Receivables for which no Required Payments were made or required to be made during
such Interest Period), multiplied by (b) twelve.

 

“Excluded
Taxes” shall mean any of the following Taxes imposed on or with respect to the Agent, any Managing Agent, any Lender or
any Program Support Provider (each a “Recipient”) or required to be withheld or deducted from a payment to a
Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in
each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in
the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision
thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. Federal withholding Taxes imposed
on amounts payable to or for the account of such Lender with respect to an applicable interest in the Loans or the Revolving Loan
Amount pursuant to a law in effect on the date on which (i) such Lender acquires such interest in the Loans or Revolving Loan
Amount (other than pursuant to an assignment request by Borrower) or (ii) such Lender changes its lending office, except in
each case to the extent that, pursuant to Section 14.1, amounts with respect to such Taxes were payable either to such
Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its
lending office, (c) Taxes attributable to such Recipient’s failure to comply with Section 14.1 and
(d) any U.S. federal withholding Taxes imposed under FATCA.

 

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“Fair Valuation”
shall mean the determination of the value of the consolidated assets of a Person on the basis of the amount which may be realized by a
willing seller within a reasonable time through collection or sale of such assets at market value on a going concern basis to an interested
buyer who is willing to purchase under ordinary selling conditions in an arm’s length transaction.

 

“FATCA”
shall mean Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that
is substantively comparable and not materially more onerous to comply with), any current or future regulations or official
interpretations thereof and any applicable agreement entered into pursuant to Section 1471(b)(1) of the Code, and any
applicable intergovernmental agreements and local implementing laws, regulations and official guidance with respect to the
foregoing.

 

“Federal Funds Rate”
shall mean, for any day, the rate per annum equal to the weighted average of the rates on overnight federal funds transactions with members
of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the
Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such
day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and
(b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average
rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Agent on such day on such transactions as determined
by Agent.

 

“FICO Score”
shall mean, for each Account Debtor with respect to a Receivable, the credit score of such Account Debtor obtained from Equifax, Experian,
Transunion or Fair Isaac Corporation as of the Origination Date of such Receivable.

 

“Finance Acceptance”
shall have the meaning assigned to it in Section 6.17(b).

 

“Finance First Refusal
Offer” shall have the meaning assigned to it in Section 6.17(b).

 

“Financed Portfolio”
shall mean, on any date of determination, all Eligible Receivables included within the calculation of the Borrowing Base as set forth
in the most recently-delivered Borrowing Base Certificate delivered to Agent by Borrower.

 

“Financed Vehicle”
shall mean a new or used vehicle, together with all accessions thereto, securing an Account Debtor’s indebtedness under the respective
Receivable.

 

“Floor”
shall mean 0.00% per annum.

 

“Foreign Lender”
shall mean a Lender that is not a U.S. Person.

 

“GAAP”
shall mean generally accepted accounting principles in the United States set forth in the statements and pronouncements of the Financial
Accounting Standards Board, that are applicable to the circumstances as of the date of determination, consistently applied.

 

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“GLBA”
shall mean, collectively, Title V – Privacy – of the Gramm-Leach-Bliley Act, P.L. 106-102 and the standards for safeguarding
customer information set forth in 12 C.F.R. Part 364 and 16 C.F.R. Part 314, all as amended, supplemented or interpreted in writing by
federal Governmental Authorities.

 

“Governmental Authority”
shall mean any federal, state, municipal, national, local or other governmental department, court, commission, board, bureau, agency or
instrumentality or political subdivision thereof, including any attorney general or agency related thereto, the Consumer Financial Protection
Bureau, or any entity or officer exercising executive, legislative or judicial, regulatory or administrative functions of or pertaining
to any government or any court, in each case, whether of the United States or a state, territory or possession thereof, a foreign sovereign
entity or country or jurisdiction or the District of Columbia.

 

“Indebtedness”
of any Person shall mean, without duplication, (a) all items which, in accordance with GAAP, would be included in determining total
liabilities as shown on the liability side of the balance sheet of such Person as of the date as of which Indebtedness is to be determined,
including any lease which, in accordance with GAAP would constitute Indebtedness, (b) all indebtedness secured by any mortgage, pledge,
security, Lien or conditional sale or other title retention agreement to which any property or asset owned or held by such Person is subject,
whether or not the indebtedness secured thereby shall have been assumed, (c) all indebtedness of others which such Person has directly
or indirectly guaranteed, endorsed (otherwise than for collection or deposit in the ordinary course of business), discounted or sold with
recourse or agreed (contingently or otherwise) to purchase or repurchase or otherwise acquire, or in respect of which such Person has
agreed to supply or advance funds (whether by way of loan, Equity Interests, equity or other ownership interest purchase, capital contribution
or otherwise) or otherwise to become directly or indirectly liable and (d) any Contingent Obligations.

 

“Indemnified Person”
shall have the meaning assigned to it in Section 12.4.

 

“Indemnified Taxes”
shall mean (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation
of Borrower under any Loan Document and (b) to the extent not otherwise described in clause (a), Other Taxes.

 

“Indemnitor”
shall mean Parent and Originator.

 

“Indemnity Agreement”
shall mean that certain Indemnity Agreement, dated as of the Closing Date, executed by Indemnitor in favor of Agent, as the same may be
further amended, modified, supplemented, restated, replaced or renewed in writing from time to time.

 

“Ineligible Receivable”
shall mean any Receivable that, as of any date of determination, fails to meet any or all of the requirements to be an Eligible Receivable.

 

“Interest Period”
means each monthly period (or portion thereof, if applicable) ending on (and inclusive of) the last day of the calendar month, provided,
that the final Interest Period hereunder shall end on the Maturity Date.

 

“Interest Rate”
means the Benchmark as adjusted by the Benchmark Adjustment.

 

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“Intermediate Account”
shall have the meaning set forth in the Multi-Party Agreement.

 

“IRS” shall
mean the United States Internal Revenue Service.

 

“ISDA Definitions”
means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or any successor thereto, as amended
or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time by
the International Swaps and Derivatives Association, Inc. or such successor thereto.

 

“Lender Addition
Agreement” shall have the meaning assigned to it in Section 12.2(a).

 

“Lender Group”
shall mean a Managing Agent and any and all Conduit Lenders, Bank Branches and, if applicable, Program Support Providers designated from
time to time by such Managing Agent as part of its Lender Group.

 

“Lender Register”
shall have the meaning assigned to it in Section 12.2(c) hereof.

 

“Lenders”
shall mean, collectively, the Conduit Lenders and the Bank Branches.

 

“Leverage Ratio”
shall mean, at any date of determination with respect to Originator (and calculated on an individual basis and without consolidation with
Borrower), the ratio of (a) total Indebtedness of such Person to (b) the Tangible Net Worth of such Originator.

 

“Lien”
shall mean any mortgage, deed of trust, deed to secure debt, pledge, security interest, encumbrance, lien or charge of any kind (including
any conditional sale or other title retention agreement or any lease in the nature thereof), or any other arrangement pursuant to which
title to the property is retained by or vested in some other Person for security purposes.

 

“Limited Power of
Attorney” shall mean that certain Limited Power of Attorney dated as of the Closing Date executed by Borrower in favor of Agent
as the same may be amended, restated, replaced, or otherwise modified from time to time.

 

“Liquidity”
shall mean, at any date of determination, an amount equal to unrestricted cash and Cash Equivalents. For the purposes of this definition,
unrestricted cash and Cash Equivalents do not exclude cash and Cash Equivalents that are subject to Liens that are not Permitted Liens
securing Indebtedness that are not Obligations.

 

“Loan”
shall mean, collectively, each Revolving Advance and each Protective Advance, if any.

 

“Loan Documents”
shall mean, collectively and each individually, this Agreement, any Notes, the Security Documents, any Backup Servicing Agreement, the
Servicing Agreement, the Purchase and Sale Agreement, the Indemnity Agreement, each Borrowing Base Certificate, the Limited Power of Attorney,
the Verification Agreement, the Title Administrator Agreement, the Nominee Agreement and any account control agreement and all other agreements,
documents, instruments and certificates heretofore or hereafter executed or delivered to Agent and/or Lenders in connection with any of
the foregoing or the Loans, as the same may be amended, modified or supplemented from time to time.

 

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“Loan-to-Value Ratio”
shall mean, as of any date of determination, the ratio, expressed as a percentage, computed as follows: (i) the numerator of the
ratio shall be equal to the outstanding principal amount of Receivable, and (ii) the denominator of the ratio shall be the amount
of the National Automobile Dealers Association Guide “blue book” value of the Financed Vehicle securing such Receivable, excluding
any add-ons.

 

“Managing Agent”
shall mean each of the agents identified as a “Managing Agent” on Schedule C, as such Schedule may be amended, restated
or otherwise revised from time to time, acting on behalf of the Bank Branches, Conduit Lenders and, if applicable, Program Support Providers
in its Lender Group under this Agreement, as applicable, and any of its successors or assigns (subject to Section 12.2).

 

“Material Adverse
Effect” shall mean any development, event, condition, obligation, liability or circumstance or set of events, conditions, obligations,
liabilities or circumstances or any change(s) which has, had or reasonably could be expected to have a material adverse effect upon:

 

(a)
the legality, validity or enforceability of any Loan Document, (ii) the perfection or priority of any Lien granted to Agent or
any other Secured Party under any of the Security Documents, (iii) the material rights and remedies of Agent or any other Secured Party
under any Loan Document or (iv) the validity, enforceability or collectability of a material portion of the Receivables or any of
the other Collateral;

 

(b)
the Collateral, the business, operations, properties, assets, liabilities or condition (financial or otherwise) of Borrower, Parent
or Originator or to the Borrower’s knowledge, the Servicer; or

 

(c)
the ability of Borrower or Indemnitor to perform any of the Obligations or its other obligations under the Loan Documents, or to
consummate the transactions, under the Loan Documents.

 

“Maturity Date”
shall mean February 4, 2025

 

“Maximum Loan Amount”
shall mean $25,000,000 (or such higher amount as has been elected pursuant to Section 2.1(e) hereof); provided, that after the
expiration or termination of the Revolving Period, the Maximum Loan Amount shall mean the aggregate principal amount of outstanding Advances.

 

“Maximum Rate”
shall mean the highest lawful and non-usurious rate of interest applicable to the Loan, that at any time or from time to time may be contracted
for, taken, reserved, charged, or received on the Loans and the Obligations under the laws of the United States and the laws of such states
as may be applicable thereto, that are in effect or, to the extent allowed by such laws, that may be hereafter in effect and that allow
a higher maximum non-usurious and lawful interest rate than any Applicable Laws would now allow.

 

“Month From Vintage
Quarter Pool Origination Date” shall mean the number of months from the origination of each Vintage Quarter Pool calculated
such that “month 1” is the calendar month immediately following the completion of such Vintage Quarter Pool.

 

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“Monthly Collateral
and Servicing Report” shall mean each monthly report prepared by Borrower (or the Servicer on behalf of the Borrower) substantially
in the form of Exhibit C, or as otherwise approved by Agent in its sole discretion.

 

“Multi-Party Agreement”
shall mean, individually and collectively, as applicable (i) that certain Multi-Party Agreement entered into by and among Agent, Borrower,
Originator and Servicer as of the Closing Date and (ii) any Multi-Party Agreement entered into by and among Agent, Originator and any
bank partner approved by Agent in its sole discretion related to a bank program approved by Agent in its sole discretion, as each may
be modified, amended or restated from time to time.

 

“Nominee Agreement”
shall mean that certain Financed Vehicle Lienholder Nominee Agreement dated on or about the Closing Date by and among Agent, Originator
and Borrower as the same may be amended, amended and restated or otherwise modified from time to time.

 

“Non-Funding Lender”
shall have the meaning assigned to it in Section 13.7.

 

“Note(s)”
shall mean, individually and collectively, any promissory notes payable to the order of the Managing Agent, for the benefit of Lenders
in such Managing Agent’s Lender Group, executed by Borrower evidencing the Loans, as the same may be amended, modified, supplemented
and/or restated from time to time.

 

“Oaktree”
means Oaktree Capital Management, L.P., as manager on behalf of certain funds and accounts and one or more entities owned by certain funds
and accounts.

 

“Obligations”
shall mean, without duplication, all present and future obligations, Indebtedness and liabilities of Borrower to Agent and the other Secured
Parties at any time and from time to time of every kind, nature and description, direct or indirect, secured or unsecured, joint and several,
absolute or contingent, due or to become due, matured or unmatured, now existing or hereafter arising, contractual or tortious, liquidated
or unliquidated, under any of the Loan Documents or otherwise relating to this Agreement, any Notes and/or the Loans, including interest,
all applicable fees, charges and expenses and/or all amounts paid or advanced by Agent or a Lender on behalf of or for the benefit of
Borrower for any reason at any time, and including, in each case, obligations of performance as well as obligations of payment and interest
that accrue after the commencement of any proceeding under any Debtor Relief Law by or against Borrower.

 

“OFAC”
shall mean the U.S. Department of Treasury’s Office of Foreign Asset Control.

 

“Operating Account”
shall mean that certain deposit account at Wells Fargo Bank, National Association held in the name of Borrower, with account number [_____],
or such successor account as designated by Borrower and approved in writing by Agent, said approval not to be unreasonably withheld, conditioned
or delayed, but which approval may be conditioned upon the delivery of an account control agreement in relation to such successor account
in form and substance reasonably acceptable to Agent.

 

“Operating
Account Control Agreement” shall mean that certain account control agreement by and among Agent, Borrower and Wells Fargo
Bank, National Association dated as of the Closing Date, which provides for springing instructions for the disposition of funds from
the Operating Account directly to Agent or as Agent may direct, as the same may be amended, modified, supplemented, restated,
replaced or renewed in writing from time to time.

 

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“Originating Dealer”
means a seller of Financed Vehicles that originates Receivables that are underwritten by Originator.

 

“Origination Date”
shall mean, with respect to any Receivable, the date of the closing and funding of the applicable Receivable between the Originator or
Originating Dealer, as applicable, and the applicable Account Debtor.

 

“Originator”
shall mean RumbleOn Finance LLC, a Nevada limited liability company.

 

“Originator Repurchase
Receivable” shall mean any Receivable that must be repurchased by Originator under the applicable Purchase and Sale Agreement.

 

“Other Connection
Taxes” shall mean, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient
and the jurisdiction imposing such Tax (other than connections arising solely from such Recipient having executed, delivered, become a
party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other
transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).

 

“Other Lender”
shall have the meaning assigned to it in Section 13.7.

 

“Other Taxes”
shall mean any present or future stamp, court or documentary intangible, recording, filing or similar Taxes which arise from any payment
made hereunder or from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of security
interest under, or otherwise with respect to, this Agreement or any other Loan Document, except any such Taxes that are Other Connection
Taxes imposed with respect to an assignment.

 

“Parent”
shall mean RumbleOn, Inc., a Nevada corporation.

 

“Participant”
shall have the meaning assigned to it in Section 12.2(b).

 

“Past Due”
shall mean, with respect to any Receivable, the number of calendar days representing the difference between the actual repayment received
and the total Scheduled Payments due and owing as of the date of measurement pursuant to the Portfolio Documents.

 

“Patriot Act”
shall mean the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001,
P.L. 107-56 (signed into law October 26, 2001), as amended.

 

“Payment Date”
shall mean the fifteenth (15th) day of each calendar month, or if such day is not a Business Day, on the next succeeding Business Day,
that the Loans are outstanding, beginning March 15, 2022.

 

“Permit”
shall mean collectively all licenses, leases, powers, permits, franchises, certificates, authorizations and approvals.

 

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“Permitted Discretion”
shall mean a determination or judgment made in good faith in the exercise of reasonable (from the perspective of a secured lender) credit
or business judgment.

 

“Permitted Dispositions”
shall mean, so long as no Event of Default or Early Wind-Down Trigger Event has occurred and is continuing, each of the following, provided
that in each case, all net cash proceeds of such disposition are immediately deposited in the Collection Account:

 

(a)
a disposition of Receivables in connection with a Permitted Securitization that complies with the requirements of Section 2.5(d)
hereof;

 

(b)
a sale of charged-off Receivables in the ordinary course of business to a third party purchaser on an arms-length basis;

 

(c)
a sale of one or more Receivables to the Originator from time to time in connection with a repurchase by the Originator of such
Receivable(s) as a result of a breach of the representations and warranties of such Person; and

 

(d)
Permitted Whole Loan Sales that complies with the requirement of Section 2.5(e) hereof.

 

“Permitted Holders”
means, collectively, the RideNow Permitted Holders and the RumbleOn Permitted Holders.

 

“Permitted Liens”
shall have the meaning assigned to it in Section 7.2.

 

“Permitted Securitization”
shall mean an off-balance sheet securitization transaction (other than in connection with any conduit or similar financing facility) pursuant
to which (a)  Borrower or any Affiliate of any Borrower sells in a “true sale” to a Subsidiary of such Person established
as a “special-purpose” bankruptcy remote entity (a “Securitization Subsidiary”), any Receivables or interests
therein, (b) such Securitization Subsidiary sells, conveys, grants a security interest in, or otherwise transfers to a third party
such Receivables or interests therein and in connection therewith, Borrower or an Affiliate of Borrower (other than such Securitization
Subsidiary) serves as a “servicer” rather than a “borrower” with respect to such Receivables and (c) that results
in at least one class or tranche of the issued debt obligations issued in connection therewith being purchased by unaffiliated investors,
provided, however, that (i) Borrower provides Agent with a copy of the “true sale” opinion delivered in connection
with such transaction and (ii) any Receivables selected to be sold in connection with such transaction must be selected from all
similar Receivables of Borrower with no intention to select Receivables that would be more adverse (in the reasonable determination of
Agent) to Agent or Lenders than other Receivables of Borrower.

 

“Permitted
Whole Loan Sale” shall mean, subject to Borrower’s compliance with Section 6.17(c) hereof, one or more sales
by Borrower of Receivables to a third-party on an arms-length basis with a minimum aggregate Purchase Price of at least $25,000,000; provided, however,
said Purchase Price must be at or above par or, if not, then the difference between par and a lower Purchase Price must be
contributed to the Borrower by the Originator and all outstanding Obligations shall be paid in full in connection with such
Permitted Whole Loan Sale unless otherwise agreed to by Agent in its sole discretion; provided, further, that (i)
Borrower must provide Agent, Managing Agent and Lenders with not less than three (3) Business Days prior written notice,
(ii) Borrower must deposit the cash proceeds and the Permitted Whole Loan Sale Partial Prepayment Fee with Agent prior to or
simultaneously with each such disposition, (iii) any Receivables selected to be sold in connection with each such transaction
must be selected from all similar Receivables of Borrower with no intention to select Receivables that would be more adverse to
Agent or Lenders than other Receivables of Borrower and (iv) both prior to and after giving effect to such transaction on a pro
forma basis, the aggregate outstanding principal amount of the Revolving Advances shall not exceed the lesser of (x) the Maximum
Loan Amount and (y) the Borrowing Base.

 

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“Person”
shall mean an individual, a partnership, a corporation, a limited liability company, a business trust, a joint stock company, a trust,
an unincorporated association, a joint venture, a Governmental Authority or any other entity of whatever nature.

 

“Pledge Agreement”
shall mean that certain Pledge Agreement, dated as of the date hereof, made by Originator in favor of Agent, for the benefit of Lenders,
as the same may be amended, modified or restated from time to time.

 

“Portfolio Documents”
shall mean Customer Loan Documents.

 

“Prepayment Date”
shall mean any date that all of the Obligations are prepaid by Borrower pursuant to Section 2.5 or Section 2.6 in connection
with the termination of this Agreement.

 

“Prime Rate”
shall mean, for any day and any Lender Group, a fluctuating rate per annum equal to the rate of interest in effect for such day as publicly
announced from time to time by the Managing Agent for such Lender Group as its “prime rate.” The “prime rate”
is a rate set by a Managing Agent based upon various factors including such Managing Agent’s costs and desired return, general economic
conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced
rate. Any change in the prime rate announced by a Managing Agent shall take effect at the opening of business on the day specified in
the public announcement of such change. Notwithstanding anything herein to the contrary, in no event shall the Prime Rate be less than
0.00%.

 

“Pro Rata Share”
shall mean (a) with respect to any particular Lender Group with Revolving Loan Amounts, a fraction (expressed as a percentage) the numerator
of which is the aggregate of the Revolving Advances held by such Lender Group plus all unused Revolving Loan Amount of such Lender Group,
and the denominator of which is the Maximum Loan Amount; (b) with respect to any Bank Branch, a fraction (expressed as a percentage) the
numerator of which is such Bank Branch’s Revolving Loan Amount and the denominator of which is the Maximum Loan Amount; (c) with
respect to any Lender within a Lender Group, the percentage of such Lender Group’s Pro Rata Share allocated to such Lender by its
Managing Agent; (d) with respect to any repayment of Advances with respect to any Lender, a fraction (expressed as a percentage) the numerator
of which is the aggregate outstanding principal balance of Revolving Advances funded by such Lender, and the denominator of which is the
aggregate outstanding principal balance of Advances funded by all Lenders.

 

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“Program
Support Provider” shall mean and includes any Person now or hereafter extending liquidity or credit or having a commitment
to extend liquidity or credit to or for the account of, or to make purchases from, a Conduit Lender (or any related issuer that finances
such Conduit Lender) in support of commercial paper issued, directly or indirectly, by such Conduit Lender in order to fund Advances made
by such Conduit Lender hereunder or issuing a letter of credit, surety bond or other instrument to support any obligations arising under
or in connection with such Conduit Lender’s or such related issuer’s commercial paper or other debt securities program, but
only to the extent that such letter of credit, surety bond, or other instrument supported either CP issued to make Advances or was dedicated
to that Program Support Provider’s support of the Conduit Lender as a whole rather than one particular issuer (other than the Borrower)
within such Conduit Lender’s commercial paper or other debt securities program.

 

“Protective Advance”
shall have the meaning assigned to it Section 2.7(b).

 

“Purchase and Sale
Agreement” shall mean that certain Purchase and Sale Agreement dated on or about the Closing Date, by and among Originator,
as seller of Receivables from time to time, and Borrower, as the same may be amended, modified, supplemented, restated, replaced or renewed
in writing from time to time in accordance with this Agreement.

 

“Receipt”
shall have the meaning assigned to it in Section 12.5.

 

“Receivable”
or “Receivables” shall mean all rights to payment of indebtedness and other obligations (including unpaid principal,
accrued interest, costs, fees, expenses and indemnity obligations) owing by an Account Debtor in respect of Customer Loan or other financial
accommodations made or extended by Originator or an Originating Dealer to or for the benefit of such Account Debtor as such rights to
payment of indebtedness and obligations have been sold and assigned to Borrower by Originator pursuant to the applicable Purchase and
Sale Agreement. Each Receivable shall include all rights (including enforcement rights) under or pursuant to all related Portfolio Documents
in respect thereof, and all supporting obligations in connection therewith.

 

“Receivable Balance”
shall mean, at any specified time with respect to any Receivable, the then outstanding aggregate principal amount payable on such Receivable,
minus any discount received by Borrower upon the purchase of such Receivable from Originator, minus any capitalized fees
and closing costs and expenses added to the outstanding principal balance of such Receivable.

 

“Recipient”
shall have the meaning set forth in the definition of “Excluded Taxes”.

 

“Reconcilement E-mail”
shall have the meaning assigned to it in Section 2.4(e).

 

“Reference Time”
with respect to any setting of the then-current Benchmark, means the time determined by the Agent in its reasonable discretion.

 

“Regulatory Event”
shall mean:

 

(x) a
“Level One Regulatory Event”, which shall comprise (i) the commencement by any Governmental Authority of any
formal inquiry or investigation, legal action or proceeding against Borrower, Originator, Parent, Servicer or any of their
Affiliates or (ii) the filing of any class action or similar legal action which (A) has certified a class and (B) alleges a
violation of laws, rules or regulations against any of Borrower, Originator, Parent, Servicer or any of their Affiliates, in the
case of either (i) or (ii), challenging its authority to originate, hold, own, service, collect, administer, pledge or enforce any
Receivable, or otherwise alleging any non-compliance by Borrower, Originator, Parent, Servicer or any of their Affiliates with any
Applicable Laws related to originating, holding, collecting, pledging, servicing, administering or enforcing such Receivable or
otherwise related to such Receivable; which inquiry, investigation, legal action or proceeding, in each case, is not released or
terminated in a manner reasonably acceptable to Agent within thirty (30) calendar days of commencement thereof or (iii) any Change
in Law with respect to one or more jurisdictions that would, with respect to such jurisdictions (a) result in actionable
non-compliance by Borrower, Originator, Servicer or any of their respective Affiliates with any Applicable Law related to
originating, holding, owning, servicing, collecting, administering, pledging or enforcing any Receivable or (b) materially and
adversely relates to the operation of the business of Borrower, Originator, Servicer or Parent (as to Parent’s business,
solely as it relates to the Receivables); or

 

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(y) a “Level
Two Regulatory Event”, which shall comprise (A) the issuance or entering of any stay, order, judgment, cease and desist order,
injunction, temporary restraining order, or other judicial or non-judicial sanction, order or ruling (i) against Borrower, Originator,
Parent, Servicer or any of Borrower’s, Originator’s or Parent’s Affiliates that materially and adversely affects the
originating, holding, pledging, administering, collecting, servicing or enforcing of any Receivable, or rendering in any manner the related
Portfolio Documents unenforceable, or (ii) against a third party to the extent that such stay, order, judgment, cease and desist order,
injunction, temporary restraining order, or other judicial or non-judicial sanction, order or ruling remains unvacated, undischarged,
unbounded or unstayed by appeal or otherwise for a period of sixty (60) days from the date of its entry and could, in the reasonable determination
of Agent, render any Receivable or the related Portfolio Documents unenforceable (provided, during such sixty (60) day period referenced
in this clause (ii) above and during the pendency of any stay pending appeal thereafter, a Level One Regulatory Event shall be deemed
to have occurred with respect to any impacted Receivable) or (B) any Change in Law which materially and adversely affects the ability
of Borrower, Originator, Parent, Servicer or any of their Affiliates to originate, hold, own, service, collect, administer, pledge or
enforce any Receivable;

 

provided, that, in each case,
upon the favorable resolution of such inquiry, investigation, action or proceeding as determined by Agent in its Permitted Discretion
and confirmed by written notice from Agent (whether by judgment, withdrawal of such action or proceeding or settlement of such action
or proceeding), such Regulatory Event for such Governmental Authority shall cease to exist immediately upon such determination by Agent.
For the avoidance of doubt, the issuance of a civil investigative demand by the Consumer Financial Protection Bureau (or any other similar
proceeding by any other Governmental Authority) shall not, on its own, constitute a Regulatory Event.

 

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“Release Price”
shall mean an amount equal to the outstanding Receivables Balance with respect to any Receivable.

 

“Relevant Governmental
Body” shall mean the Federal Reserve Board and/or the Federal Reserve Bank of New York, or a committee officially endorsed or
convened by the Federal Reserve Board and/or the Federal Reserve Bank of New York, or any successor of any of the foregoing.

 

“Request for Revolving
Advance” shall have the meaning assigned in Section 4.2(a).

 

“Required Principal
Payment” shall mean, as of any date of determination, the amount by which the aggregate outstanding principal balance of the
Advances exceeds the then applicable Borrowing Base, or such greater amount as of any Payment Date as shall be specified by the Borrower.

 

“Requisite Lenders”
shall mean, at any time, (i) Agent and (ii) Bank Branches who together with the Conduit Lenders in their Lender Group hold Advances and
unused Revolving Loan Amounts representing not less than fifty-one percent (51%) of the sum of the total Advances outstanding and unused
Revolving Loan Amount at such time; provided that, the Advances and Revolving Loan Amounts held by any Non-Funding Lender shall be disregarded
in determining Requisite Lenders at any time.

 

“Response E-Mail”
shall have the meaning assigned to it in Section 2.4(e).

 

“Responsible Officer”
shall mean any manager the president, chief operating officer, chief administrative officer, the chief financial officer, the secretary
or any vice president of Borrower, or any other officer having substantially the same authority and responsibility; or, with respect to
compliance with financial covenants or delivery of financial information, the chief financial officer, chief administrative officer, the
treasurer or the controller of Borrower, or any other officer having substantially the same authority and responsibility, and in all cases
such person shall be listed on an incumbency certificate delivered to Agent, in form and substance acceptable to Agent in its sole discretion.

 

“Revolving Advance”
shall have the meaning assigned to such term in Section 2.1(a).

 

“Revolving Loan Amount”
shall mean (i) with respect to a Bank Branch, the maximum amount of Advances such Bank Branch is willing to consider making or funding
hereunder as described on Schedule B, as such Schedule may be amended, restated or otherwise revised from time to time including
by the Agent to reflect assignments, reallocations, decreases and increases of the Revolving Loan Amount permitted under this Agreement,
and (ii) with respect to a Lender Group, the aggregate amount of Advances such Lender Group is willing to consider making, in each case
as such amount may be reduced or increased pursuant to the terms and conditions hereof.

 

“Revolving
Period” shall mean the period from and including the Closing Date through and including the earlier of (a) February 4,
2024, (b) the Termination Date, (c) (i)at the election of Agent in its sole discretion, any Early Wind-Down Trigger Event
or (ii) three (3) months after any Early Wind-Down Trigger Event if, within five (5) Business Days of Borrower’s request at
any time thereafter, the Agent has not determined that the condition precedent in Section 4.2(a)(iii) is satisfied or waived
despite such Early Wind-Down Trigger Event, or (d) at the election of Agent in its sole discretion, the occurrence and
continuance of an Event of Default.

 

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“RideNow Permitted
Holders” means William Coulter and Mark Tkach and their respective spouses, children, grandchildren and other immediate family
members and personal representatives of their estates or trusts of which they or their respective spouses, children, grandchildren, or
other immediate family members are the sole beneficiaries (in each case, directly or indirectly, including through one or more investment
vehicles).

 

“RumbleOn Permitted
Holders” means Marshall Chesrown and Steven Berrard and their respective spouses, children, grandchildren and other immediate
family members and personal representatives and trustees of their estates or trusts of which they or their respective spouses, children,
grandchildren, or other immediate family members are the sole beneficiaries (in each case, directly or indirectly, including through one
or more investment vehicles including, without limitation Berrard Holdings Limited Partnership).

 

“ROFR Termination
Date” shall have the meaning assigned to it in Section 6.17(a).

 

“Scheduled Payment”
shall mean the scheduled monthly payment of principal and interest by or on behalf of an Account Debtor on a Receivable.

 

“Secured Parties”
shall mean the Agent, each Lender, each Managing Agent and each Program Support Provider, and any assignee of any Lender or any Program
Support Provider pursuant to the terms hereof.

 

“Securitization First
Refusal Offer” shall have the meaning assigned to it in Section 6.17(a).

 

“Security Documents”
shall mean this Agreement, UCC financing statements, the Multi-Party Agreement, the Pledge Agreement, the Deposit Account Control Agreements,
any other agreements related to Deposit Accounts, the Assignment of Vehicle Titles, the Electronic Collateral Control Agreement and all
other documents or instruments necessary to create or perfect the Liens in the Collateral, as such may be modified, amended or supplemented
from time to time.

 

“Servicer”
shall mean CSC Logic, Inc. in its capacity as servicer of the Receivables under the Servicing Agreement, or the Backup Servicer or any
other Person becoming a servicer of the Receivables upon termination of CSC Logic, Inc. as servicer in accordance with the terms of the
Servicing Agreement or Multi-Party Agreement.

 

“Servicer Default”
shall mean (i) the occurrence of an event pursuant to which Borrower or Originator, as applicable, may terminate the Servicer “For
Cause” pursuant to Section 15.1 of the Servicing Agreement and/or (ii) a breach by Servicer of its material obligations to the Agent
under the Multi-Party Agreement.

 

“Servicing
Agreement” shall mean, individually and collectively as the context so implies that certain agreement entered into by
Servicer and Originator (as successor-in-interest to Parent) dated as of March 29, 2019 that includes “Base Terms,” the
“Managed Services Module” and the “DXC Consumer Loan Processing Solution Pack” as amended by Amendment No 1
to Statement of Work dated May 17, 2019, Master Amendment Name Change dated May 30, 2019, Amendment Number One to the Fast Track
Execution Document and Amendment Number Two to the DXC Consumer Loan Processing Solutions Pack dated July 2, 2020 and that certain
Fast Track Execution Document dated on or about the Closing Date whereby Servicer has agreed to perform certain servicing functions
on behalf of Borrower in relation to the Receivables under this Agreement, by and among, Servicer, Borrower and Originator, as
amended, modified, supplemented, restated, replaced or renewed in accordance with this Agreement.

 

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“Servicing Fee”
shall mean the fee payable monthly to Servicer (solely as it relates to the Receivables owned by Borrower as of such date of determination)
as set forth in the applicable Servicing Agreement.

 

“SOFR”
shall mean, with respect to any SOFR Business Day, a rate per annum equal to the secured overnight financing rate for such SOFR Business
Day published by the SOFR Administrator on the SOFR Administrator’s Website at approximately 8:00 a.m. (New York City time) on the
immediately succeeding SOFR Business Day.

 

“SOFR Administrator”
shall mean the Federal Reserve Bank of New York (or any successor administrator of the secured overnight financing rate).

 

“SOFR Administrator’s
Website” shall mean the SOFR Administrator’s website, currently at http://www.newyorkfed.org, or any successor source
for the secured overnight financing rate identified as such by the SOFR Administrator from time to time.

 

“SOFR Business Day”
shall mean a day on which banks are open for dealing in foreign currency and exchange in London, New York City and Washington, D.C.

 

“SOFR Determination
Time” shall mean 3:00 p.m. (New York time) on a U.S. Government Securities Business Day, at which time Compounded SOFR or Term
SOFR, as applicable, is published on the Federal Reserve Bank of New York’s Website.

 

“Solvency Certificate”
shall have the meaning assigned to it in Section 4.1(g).

 

“Springing DACA Effective
Date” shall mean the effective date of exercise by the Agent of sole dominion as to dispositions of Collections pursuant to
the Collection Account Control Agreement

 

“Subsidiary”
shall mean, as to any Person, any other Person in which more than fifty percent (50%) of all Equity Interests are owned directly or indirectly
by such Person.

 

“Tangible Net Worth”
shall mean, for any Person, such Person’s (a) assets, minus (b) liabilities, minus (c) any intangible assets of such
person, including goodwill, trademarks, tradenames, copyrights, patents, patent allocations, licenses and rights in any of the foregoing
and other items treated as intangibles, in each case as determined in accordance with GAAP.

 

“Taxes”
shall mean any and all present or future taxes, levies, imposts, duties, deductions, or withholdings (including backup
withholdings), assessments, fees, or other charges imposed by any Governmental Authority, including any interest, additions to tax
or penalties applicable thereto.

 

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“Termination Date”
shall have the meaning assigned to it in Section 11.1.

 

“Term SOFR”
shall mean, for the applicable Corresponding Tenor as of the applicable Reference Time, the forward-looking term rate based on SOFR that
has been selected or recommended by the Relevant Governmental Body.

 

“Term SOFR Notice”
shall mean a notification by the Agent to the Lenders and the Borrower of the occurrence of a Term SOFR Transition Event.

 

“Term SOFR Transition
Event” shall mean the determination by the Agent in its sole discretion that Term SOFR (a) has been (x) recommended by the Relevant
Governmental Body for use in asset-backed lending transactions substantially similar hereto, (y) applied in any asset-backed lending transaction
substantially similar hereto where the Agent or one of its affiliates is a lender, or (z) adopted by a significant number of market participants
for use in asset-backed lending transactions substantially similar hereto, and (b) is operationally, administratively and technically
feasible for the Agent.

 

“Title”
shall mean with respect to a Financed Vehicle, the certificate of title for, or other written evidence of ownership, including, without
limitation a lien certificate of such Financed Vehicle, issued by the registrar of titles or other appropriate Governmental Authority
in the jurisdiction in which such Financed Vehicle is registered.

 

“Title Administrator”
means PDP Group Incorporated, or any successor thereto or other Person that has executed an agreement to provide motor vehicle title administration
software and related services with respect to the Receivables.

 

“Title Administrator
Agreement” means that certain letter agreement, dated as of the Closing Date by and among Borrower, Originator, Agent and Title
Administrator as the same may be amended, amended and restated or otherwise modified from time to time.

 

“Third-Party Finance
Offer” shall have the meaning assigned to it in Section 6.17(b).

 

“Third-Party Securitization
Offer” shall have the meaning assigned to it in Section 6.17(a).

 

“Three-Month Average
Defaulted Ratio” shall mean, as of the last day of any calendar month, the arithmetic average Defaulted Ratio for the preceding
three (3) calendar months (including such calendar month).

 

“Three-Month Average
Delinquency Ratio” shall mean, as of the last day of any calendar month, the arithmetic average Delinquency Ratio for the preceding
three calendar months (including such calendar month).

 

“Three-Month Average
Excess Spread” shall mean, as of the last day of any calendar month, the arithmetic average of the Excess Spread for the preceding
three (3) calendar months (including such calendar month then ending).

 

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“Total Liabilities”
shall mean, for any Person, as at any date of determination, the aggregate amount of all Indebtedness of such Person, as determined on
a consolidated basis in accordance with GAAP.

 

“Transferee”
shall have the meaning assigned to it in Section 12.2(a).

 

“UCC” shall
mean the Uniform Commercial Code as in effect in the State of New York; provided that, if perfection or the effect of perfection
or non-perfection or the priority of any security interest in any Collateral is governed by the Uniform Commercial Code as in effect in
a jurisdiction other than the State of New York, “UCC” means the Uniform Commercial Code as in effect from time to
time in such other jurisdiction for purposes of the provisions hereof relating to such perfection, effect of perfection or non-perfection
or priority.

 

“Unadjusted Benchmark
Replacement” shall mean the applicable Benchmark Replacement excluding the related Benchmark Adjustment.

 

“Underwriting Guidelines”
shall mean Originator’s minimum credit criteria, as set forth on Exhibit G, as such exhibit may be updated from time to time
in accordance with Section 6.16 of this Agreement.

 

“Upfront Fee”
shall have the meaning assigned to it in Section 3.4.

 

“U.S. Government
Securities Business Day” shall mean any day except for a Saturday, a Sunday or a day on which the Securities Industry and Financial
Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in
U.S. government securities.

 

“USD LIBOR”
means the London interbank offered rate for Dollars.

 

“U.S. Person”
shall mean a “United States person” as defined in Section 7701(a)(30) of the Code.

 

“Verification Agent”
shall mean Residential RealEstate Review Management, Inc., or such other Person as Agent and Borrower engage, or after the occurrence
and continuance of an Event of Default, Agent in its sole discretion engages, from time to time, in each case, at Borrower’s sole
cost and expense, to verify certain information with respect to the electronic copies of all Portfolio Documents and certain duplicate
documents and instruments related thereto, and to take certain actions in connection therewith.

 

“Verification Agreement”
shall mean that certain Verification Agent Agreement by and among Borrower, Agent and Verification Agent, as the same may be amended,
restated or otherwise modified from time to time.

 

“Verification Deliverables”
shall mean, with respect to each Receivable, those certain Portfolio Documents to be delivered to E-Vault Provider and access made available
to Verification Agent pursuant to the terms of this Agreement and the Verification Agreement, as such list of Portfolio Documents may
be supplemented from time to time by Agent and/or Borrower pursuant to the terms of the Verification Agreement.

 

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“Verification Fee”
shall mean the fee payable monthly to the Verification Agent, if any, as such fee is specified in the Verification Agreement.

 

“Vintage Quarter”
shall mean, with respect to each Receivable, as applicable, the calendar quarter during which the Origination Date for such Receivable
occurred.

 

“Vintage Quarter
Charged-Off Percentage” shall mean, as of any date of determination, with respect to any Vintage Quarter Pool, the percentage
calculated by dividing (a) the aggregate outstanding principal balance of the Defaulted Receivables in such Vintage Quarter Pool, minus
all other Collections received on each such Defaulted Receivable from and after the date such Receivable became a Defaulted Receivable
hereunder, divided by (b) the aggregate original principal balance (as of the Origination Date of such Receivables) of all Receivables
in any Vintage Quarter Pool.

 

“Vintage Quarter
Pool” shall mean a group of Receivables with Origination Dates in the same Vintage Quarter.

 

“Volcker Rule”
shall mean the common rule entitled “Proprietary Trading and Certain Interests and Relationships with Covered Funds” published
at 79 Fed. Reg. 5779 et seq.

 

“Voting Interests”
shall mean securities, membership interests, partnership interests or any other equity interests of any class or classes of an entity,
the holders of which are ordinarily, in the absence of contingencies, entitled to elect a majority of the directors or managers (or Persons
performing similar functions) and otherwise control the policies of such entity.

 

	II.	LOANS, PAYMENTS, INTEREST AND COLLATERAL

 

		2.1	The Loans

 

(a) Revolving
Advances. Subject to the provisions of this Agreement, including, without limitation satisfaction or waiver in writing by the
Agent of all conditions set forth in Article IV hereof, (i) each Bank Branch severally may, but has no obligation to, make
Revolving Advances up to such Lender’s respective portion of the Revolving Loan Amount to Borrower under the Loan from time to
time during the Revolving Period and (ii) each Conduit Lender may, in its sole discretion, make Revolving Advances to Borrower under
the Loan from time to time during the Revolving Period (each, a “Revolving Advance” and collectively, the
“Revolving Advances”). Each Revolving Advance may be made in an amount requested by Borrower not to exceed
an amount equal to the Borrowing Base minus the outstanding principal balance of the Revolving Advances, by deposit to an account
specified by the Borrower; provided, that under no circumstances shall the cumulative amount of all outstanding Advances made
hereunder exceed the lesser of the Borrowing Base or the Maximum Loan Amount; provided, further, that (i) no Bank
Branch shall be requested to provide funding for any Advance that would increase the aggregate of all outstanding amounts funded by
such Bank Branch (including any Advances made by any predecessor in interest to such Bank Branch) and its related Conduit Lender (if
any) to an amount in excess of or such Bank Branch’s Revolving Loan Amount, (ii) no Conduit Lender shall be requested to
provide funding for any Advance that would increase the aggregate of all outstanding amounts funded by such Conduit Lender
(including any Advances made by any predecessor in interest to such Conduit Lender) and its related Bank Branch to an amount in
excess of its related Bank Branch’s Revolving Loan Amount and (iii) no Bank Branch shall be responsible for the refusal of any
other Bank Branch and any Conduit Lender in a Lender Group (other than such Bank Branch’s Lender Group) to fund any Advance in
such Lender’s discretion. Unless otherwise permitted by Agent, each Revolving Advance shall be in an amount of at least Two
Hundred Fifty Thousand Dollars ($250,000), and no more than one (1) Revolving Advance may be requested during any calendar week.
Revolving Advances may be made hereunder on any Business Day during the Revolving Period. With respect to each Bank Branch, the
failure of any other Bank Branch or Conduit Lender in another Lender Group to make any Advance requested to be made by it shall not
relieve such Bank Branch of its obligations hereunder; provided, that the Revolving Loan Amount of each Bank Branch is several and
no Bank Branch shall be responsible for any other Bank Branch’s failure or the failure of any Conduit Lender in a Lender Group
other than such Bank Branch’s Lender Group to make requested Advances. For the avoidance of doubt, no Lender shall have any
obligation hereunder to make any Advances pursuant to this Agreement. In the event that a Lender chooses not to participate in any
Advances requested hereunder, Agent shall offer the portion of the Revolving Loan Amount declined by such Lender to the other
Lender(s).

 

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(b) Collateral
Reserve. In connection with each Revolving Advance, Agent and/or Borrower shall withhold from such Revolving Advance, for
immediate deposit (and shall deposit same) into the Collateral Reserve Account, an amount equal to the excess (if any) of (a) the
Collateral Reserve Amount (giving effect to such Revolving Advance), and (b) the amount then on deposit in the Collateral Reserve
Account. Borrower hereby irrevocably authorizes Agent, in Agent’s sole discretion, to make and maintain deposits up to the
Collateral Reserve Amount in the Collateral Reserve Account from all amounts received pursuant to this Section 2.1(b) by
Borrower and, if applicable, from Section 2.4. The portion of each Revolving Advance (if any) that is withheld as a portion
of the Collateral Reserve shall remain a Revolving Advance and an Obligation under this Agreement, without regard to the fact that
Borrower is required to immediately deposit such amount in the Collateral Reserve Account. If at the expiration of the Revolving
Period, the amount on deposit in the Collateral Reserve Account is less than the Collateral Reserve Amount, and no Default or Event
of Default shall have occurred and be continuing or would result therefrom, the Lenders shall make a Revolving Advance, subject to
the requirements of Section 4.2 hereof, as applicable, in an amount equal to such shortfall, and the proceeds of such
Revolving Advance shall be deposited by Borrower in the Collateral Reserve Account. Upon the expiration of the Revolving Period, so
long as no Default or Event of Default shall have occurred and be continuing, Agent shall withdraw the amount (if any) of the
Collateral Reserve that is in excess of the Collateral Reserve Amount on deposit in the Collateral Reserve Account, which excess
amount shall be applied by Agent to repay any outstanding Loans and, if no Loans are then outstanding, shall be delivered to the
Borrower. Notwithstanding and without limiting or being limited by any other provision of this Agreement, upon the occurrence and
during the continuation of any Early Wind-Down Trigger Event or an Event of Default, Agent shall have the right, in Agent’s
sole discretion, to use all or any portion of the Collateral Reserve to pay any Obligation hereunder and/or under any other Loan
Document, to be applied at such time and in such manner and order as Agent shall decide in Agent’s sole discretion. The
Collateral Reserve shall in no way waive or otherwise modify any of Borrower’s obligations hereunder, under the Notes, or any
other Loan Document, including, without limitation, the obligation of Borrower to make interest payments, principal payments or any
other payments or prepayments as and when required under the Loan Documents or the obligation to pay all Obligations on the Maturity
Date.

 

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(c)
Registry.

 

(i)
Agent shall maintain, as a part of the Lender Register, a record of (A) the amount of each Loan made hereunder, (B) the
amount of any principal or interest due and payable or to become due and payable from Borrower to each Lender hereunder and (C) the
amount of any sum received by Agent hereunder for the account of Lenders and each Lender’s share thereof.

 

(ii)
The entries made in the accounts maintained pursuant to paragraph (i) above of this Section 2.1(c) shall be prima facie
evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or Agent to
maintain such accounts or any error therein shall not in any manner affect the obligation of Borrower to repay the Loans in accordance
with the terms of this Agreement.

 

(d)
Payment of the Loans. Borrower shall repay the Loans pursuant to and in accordance with the terms of this Agreement and
any Notes evidencing the Loans. The outstanding principal balance of all of the outstanding Revolving Advances shall be due and payable
in full, if not earlier in accordance with this Agreement, on the Maturity Date. All other amounts outstanding under the Loans and all
other Obligations under the Loans shall be due and payable in full, if not earlier in accordance with this Agreement, on the Maturity
Date.

 

(e)
Accordion Feature. Borrower, Agent, Managing Agent and Bank Branches will be permitted, at any time prior to the expiration
of the Revolving Period, to increase the then applicable Revolving Loan Amounts to an aggregate amount equal to $50,000,000 (or such higher
amount as Borrower, Agent, Conduit Lenders and Lenders agree to in each parties’ sole discretion) in minimum increments of $5,000,000
with additional Revolving Loan Amounts from such Lender’s or new Revolving Loan Amounts from financial institutions approved by
and acceptable to Agent in its sole discretion, provided, that: (i) at the time of any such increase, no Early Wind-Down Trigger
Event, Default or Event of Default, or any condition that would (or with the passage of time would) constitute an Early Wind-Down Trigger
Event, Default or an Event of Default under this Agreement or any other Loan Document, has occurred and is continuing; (ii) no Bank Branch
shall be obligated to participate in any such increase by increasing the amount of its own Revolving Loan Amount, which decision shall
be made in the sole discretion of each such Bank Branch; (iii) the Revolving Loan Amounts shall be in a maximum aggregate principal amount
of $50,000,000 after giving effect to any such increase (iv) Borrower shall pay to Agent, for the benefit of the Lenders, a nonrefundable
additional upfront fee equal to one percent (1.00%) of the increased Revolving Loan Amounts effective as of the date of any such increase,
which shall be deemed fully earned and non-refundable on any date of such increase; and (v) all documents and opinions reasonably required
by Agent to evidence any such increase shall be executed and delivered to Agent on or before the effective date of such increase, including,
without limitation, one or more new or replacement Notes.

 

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		2.2	Interest on the Loan

 

(a)
Borrower agrees to pay interest to each Managing Agent for the account of the Lenders in such Managing Agent’s Lender Group,
which interest shall be calculated monthly in arrears, from the date the proceeds of any Advance are made available to Borrower until
paid in full, at a rate per annum equal to the lesser of (i) the Interest Rate plus the Applicable Margin (the “Applicable
Rate”), and (ii) the Maximum Rate. All such payments of accrued interest shall be calculated and earned as of the first
Business Day of each calendar month and all such payments of interest shall be due and payable on each Payment Date pursuant to Section
2.4(a), (b), or (c), as applicable. If Lenders are prevented from charging or collecting interest at the Applicable
Rate, then, to the extent permitted by law, the interest rate shall continue to be the Maximum Rate until such time as Lenders have charged
and collected the full amount of interest that would be chargeable and collectable if interest at the Applicable Rate had always been
lawfully chargeable and collectible.

 

(b)
On each day upon which the Interest Rate is increased or decreased, the Applicable Rate shall be similarly changed without notice
or demand of any kind by an amount equal to the amount of such change in the Interest Rate.

 

(c)
The monthly interest due on the principal balance of the Loan outstanding shall be computed for the actual number of days elapsed
on the basis of a year consisting of 360 days and shall be calculated by determining the average daily principal balance of the Loans
outstanding as of the close of business for each day of the applicable Interest Period (the “Average Daily Balance”).

 

(d)
At least five (5) Business Days prior to each Payment Date, the Agent shall provide to the Borrower a statement setting forth the
accrued and unpaid interest, costs, fees and expenses relating to the Obligations that will be payable to the Lenders on the next applicable
Payment Date.

 

		2.3	Loan Collections.

 

Borrower shall, or shall direct
Servicer to, direct or otherwise cause the Account Debtor of each Receivable, to pay all Collections directly to the Intermediate Account
for ultimate deposit into the Collection Account in accordance with the time periods and mechanics set forth in the Multi-Party Agreement.
In the event that Borrower receives any Collections directly from or on behalf of the Account Debtor thereof in a manner other than through
a deposit into the Intermediate Account, Borrower shall receive all such Collections in trust for the benefit of Agent as secured party
hereunder, and Borrower shall deliver such Collections to the Collection Account, within the time periods and mechanics set forth in the
Multi-Party Agreement, unless Agent shall have notified Borrower to deliver directly to Agent all such Collections after the occurrence
and during the continuance of an Event of Default, in which event all such Collections (in the form received) shall, if applicable, be
endorsed by Borrower to Agent and delivered to Agent promptly upon Borrower’s receipt thereof.

 

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		2.4	Promise to Pay; Manner of Payment.

 

(a)
On each Payment Date during the term of this Agreement, so long as no Event of Default is then continuing, payments shall be made
by the Borrower, subject Agent’s agreement pursuant to Section 2.4(e), from the Collection Account in the following order
of priority and to the extent of the Available Amounts on deposit in the Collection Account:

 

(i)
to Verification Agent, to pay the Verification Fee to the extent accrued and unpaid through the last day of the immediately preceding
calendar month until such accrued fees are paid in full;

 

(ii)
pro rata to Servicer, to pay the Servicing Fee up to an amount equal to 2% of the aggregate Receivables Balance of Eligible Receivables
on a per annum basis and to Backup Servicer (if any) to pay the Backup Servicer Fee, respectively, to the extent accrued and unpaid through
the last day of the immediately preceding calendar month until such accrued fees are paid in full;

 

(iii)
to Agent, to pay any fees required to be paid to Collection Account Bank with respect to the Collection Account and the Collateral
Reserve Account, including any such fees accrued and unpaid through the last day of the immediately preceding calendar month until such
accrued fees are paid in full;

 

(iv)
to Agent or each Managing Agent, for itself and the other Secured Parties in its Lender Group, any accrued and unpaid costs, fees
and expenses relating to the Obligations, including any accrued and unpaid wire transfer fees or other banking fees;

 

(v)
to Agent or each Managing Agent, for itself and the other Secured Parties in its Lender Group, first an amount equal to the outstanding
principal balance of any Protective Advances, together with all interest owed with respect to all Protective Advances and second, any
indemnities owed to Agent or any other Secured Party in such Managing Agent’s Lender Group, in each case, to the extent not previously
reimbursed or paid;

 

(vi)
to Agent (for further payment to each Managing Agent, for itself and the other Secured Parties in its Lender Group), any accrued
and unpaid interest relating to the Obligations then due and owing to the Lenders;

 

(vii)
to Agent (for further payment to each Managing Agent, for itself and the other Secured Parties in its Lender Group), the Required
Principal Payment (if any);

 

(viii)
at any time during the continuance of an Early Wind-Down Trigger Event, and at all times during the Amortization Period, in each
instance, to Agent (for further payment to each Managing Agent, for itself and the other Secured Parties in its Lender Group), to apply
to the then outstanding principal amount of the Advances and other Obligations then due and owing to the Lenders; and

 

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(ix)
 to Borrower, to pay any remaining portion of the Servicing Fee due and owing to Servicer, if applicable,

 

(x)
to Borrower, by deposit into the Operating Account, any remaining Available Amounts.

 

(b)
In the event that amounts distributed under Section 2.4(a) on any Payment Date are insufficient for of the amounts required
to be paid in such calendar month as well as any Required Principal Payment for such calendar month, Borrower shall pay an amount equal
to the extent of such insufficiency from a wire transfer of immediately available funds by Borrower within one (1) Business Day of request
by Agent (or if requested by Borrower and consented to by Agent in its sole discretion, through a Revolving Advance hereunder on such
date). Agent shall distribute any such payment received by it for the account of any Secured Party to the appropriate Managing Agent,
for the benefit of the applicable Secured Party, in accordance with the terms hereof, including Section 2.4(a). Collections and
other proceeds of Collateral derived from Receivables shall be applied in the manner set forth in Section 2.4(a) above on a pro
rata basis.

 

(c)
Notwithstanding anything to the contrary contained in this Section 2.4, following the occurrence and during the continuance
of an Event of Default, at the election of Agent, Agent shall have the immediate right to direct and to apply all funds in the Collection
Account, Collateral Reserve Account, Blocked Account and any other Scheduled Payments, interest, principal, prepayments and other amounts
received of every description payable to Borrower with respect to the Collateral, to the Obligations in such order and in such manner
as Agent shall elect in its sole discretion.

 

(d)
Borrower absolutely and unconditionally promises to pay, when due and payable pursuant hereto, principal, interest and all other
amounts and Obligations payable, hereunder or under any other Loan Document, without any right of rescission and without any deduction
whatsoever, including any deduction for set-off, recoupment or counterclaim, notwithstanding any damage to, defects in or destruction
of the Collateral or any other event, including obsolescence of any property or improvements. Except as expressly provided for herein,
Borrower hereby waives setoff, recoupment, demand, presentment, protest, and all notices and demands of any description, and the pleading
of any statute of limitations as a defense to any demand under this Agreement and any other Loan Document, all to the extent permitted
by law.

 

(e)
Payment Date Reconciliation

 

(i)
On the third (3rd) Business Day occurring immediately prior to each Payment Date, Borrower shall submit to Agent a notice
via electronic mail indicating Borrower’s determination of how the Available Amounts should be applied on such Payment Date in accordance
with Section 2.4(a) above, such notice, which shall be in substantially the form attached hereto as Exhibit H, (the “Reconcilement
E-mail”).

 

(ii)
Agent shall use commercially reasonable efforts to respond to each Reconcilement E-Mail by the end of the Business Day following
Agent’s receipt thereof, which response shall state whether Agent agrees or disagrees with the Reconcilement E-Mail (such notice,
the “Response E-Mail”).

 

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(iii)
 If the Response E-Mail states Agent’s agreement with Borrower’s determination set forth in the Reconcilement E-mail,
then Agent (subsequent to the Springing DACA Effective Date) or Borrower (prior to the Springing DACA Effective Date), shall apply such
Available Amounts in accordance with the Reconcilement E-mail on the applicable Payment Date.

 

(iv)
If Agent does not agree with the terms in the Reconcilement E-Mail, Agent will notify Borrower regarding its comments and the parties
will then discuss the appropriate terms. Once the Agent and Borrower have agreed to the terms regarding the application of such Available
Amounts, Borrower shall submit a revised Reconcilement E-Mail with respect to the application of the Available Amounts, whereupon Borrower
shall apply such Available Amounts in accordance with the Reconcilement E-Mail on the applicable Payment Date. Borrower shall be prohibited
from disbursing such amounts unless any such dispute is resolved or waived in writing by Agent.

 

		2.5	Voluntary Prepayments

 

(a)
Except as set forth in Section 2.5(b) and Section 2.5(d)-(e) below, the Loans may only be prepaid only through the
collection of Scheduled Payments and any other amounts received by or on behalf of Borrower from payments of or collections of proceeds
derived from the Receivables (including all "Collections" described in clauses (b) through (d) of that definition).

 

(b)
Borrower may voluntarily prepay, in whole but not in part, the entire principal balance of the Loan and all other Obligations,
and terminate this Agreement at any time (i) the Lenders do not make Revolving Advances pursuant to a Request for Revolving Advance and
all conditions precedent to Advances set forth in Section 4.2 have been fully satisfied or (ii) any Secured Party request compensation
pursuant to Sections 3.3 or 14.1 in excess of $100,0000 or (iii) after the Revolving Period (and, except as set forth in
clause (i) and (ii) at no time prior), so long as, in any such case, Borrower shall have identified the Prepayment Date and given Agent,
Managing Agent and each Lender not less than thirty (30) calendar days prior written notice in advance of such proposed Prepayment Date.

 

(c)
In the event of a voluntary prepayment in full of the Loans and termination of this Agreement and the Revolving Loan Amounts by
Borrower pursuant to Section 2.5(b), the applicable Obligations to be prepaid as provided in this Section 2.5 shall include,
(i) all outstanding Loans made prior to the related Prepayment Date, plus (ii) accrued and unpaid interest on all such outstanding
Loans made prior to such Prepayment Date (including any interest accrued at the Default Rate), plus (iii) any unpaid fees or expenses
required to be paid by Borrower under this Agreement and all other unpaid Obligations (other than indemnity obligations of Borrower under
the Loan Documents that are not then due and payable or for which any events or claims that would give rise thereto are not then pending)
in relation to such Obligations to be prepaid on the Prepayment Date.

 

(d)
Notwithstanding anything set forth herein to the contrary, Borrower may prepay the Loan in full during the Revolving Period, subject
to the terms below upon the occurrence of a Permitted Securitization, upon not less than thirty (30) days’ prior written
notice to Agent; provided, that Borrower shall pay to Agent, for the benefit of Lenders, an amount equal to one percent
(1.0%) of the aggregate principal amount of the Loan so prepaid (the “Partial Prepayment Fee”); provided further,
however, that to the extent Borrower or such Affiliate has offered to Agent or an Affiliate of Agent to be the lead manager or lead
placement agent to the issuer thereof on reasonable market terms (for similar securitization transactions of comparable size and
complexity) at the time of determination, the Partial Prepayment Fee payable to the Lenders shall be applied towards underwriting or
similar fees otherwise payable to Agent or its Affiliates in connection therewith. Immediately upon Borrower’s or its
Affiliates receipt of any proceeds from the Permitted Securitization, such Borrower or Affiliate shall deliver such proceeds to the
Collection Account in their original form for application to the Obligations and, pending delivery to Agent, such Borrower or
Affiliate will hold such proceeds as agent for Agent and in trust for Agent.

 

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(e)
Additionally, Borrower may prepay the Loan in part in connection with a Permitted Whole Loan Sale by deposit of the Release Prices
with respect to the Receivables sold in connection with such Permitted Whole Loan Sale into the Collection Account; provided, however,
in connection therewith, Borrower shall pay to Agent, for the benefit of Lenders, an amount equal to one percent (1.0%) of the aggregate
principal amount of the Loan so prepaid (the “Permitted Whole Loan Sale Partial Prepayment Fee”); provided, however,
such Permitted Whole Loan Sale Partial Prepayment Fee shall be waived to the extent Agent or any of its Affiliates is the purchaser of
such Receivables.

 

		2.6	Mandatory Prepayments

 

In addition to and without
limiting any provision of any Loan Document:

 

(a) In no event shall the
sum of the aggregate outstanding principal balance of the Advances exceed the lesser of (i) the Borrowing Base and (ii) the Maximum
Loan Amount. If at any time, the outstanding unpaid principal balance of the Advances exceeds the Maximum Loan Amount, Borrower
shall promptly, and in any event within two (2) Business Days after the occurrence thereof, whether or not a Default or Event of
Default has occurred and is continuing, prepay the principal balance of the Advances in an amount equal to the difference between
the then aggregate outstanding principal balance of the Advances and the Maximum Loan Amount. If, at any time and for any reason,
(following application of any amounts in the Collection Account as of such date in accordance with Section 2.4) the
outstanding unpaid principal balance of the Advances exceeds the Borrowing Base, including due to any Receivable failing to meet the
eligibility criteria and thus no longer constituting an Eligible Receivable within the two (2) Business Days after the occurrence
thereof (provided, however, that if such Receivable no longer constitutes an Eligible Receivable solely as a result of
a Level Two Regulatory Event, within fifteen (15) Business Days after the occurrence thereof solely with respect to such
Receivables), whether or not a Default or Event of Default has occurred and is continuing, either (1) prepay the principal balance
of the Advances in an amount equal to the difference between the then aggregate outstanding principal balance of the Advances that
exceeds the Borrowing Base, (2) increase the aggregate principal amount of Eligible Receivables or cash in the Collection Account,
as applicable, pledged to Agent in accordance with this Agreement, or (3) effect some combination of clauses (1) and (2), so that
(i) the Borrowing Base is equal to or exceeds the then outstanding principal balance of the Advances. The pledge and delivery to
Agent of additional Eligible Receivables or cash, as applicable, shall comply with the document delivery requirements set forth in Section
4.2, as applicable, and shall be accompanied by a certification from Borrower that demonstrates that after giving effect to the
pledge to Agent of such additional Eligible Receivables or cash and/or prepayment, as applicable, the outstanding unpaid principal
balance of the Advances is equal to or less than the Borrowing Base.

 

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		2.7	Payments by Agent; Protective Advances

 

(a)
Should any amount required to be paid under any Loan Document be unpaid beyond any applicable cure period, such amount may be paid
by Agent, for the account of Lenders, which payment shall be deemed a request for a Revolving Advance as of the date such payment is due,
and Borrower irrevocably authorizes disbursement of any such funds to Agent, for the benefit of itself and the Lenders, by way of direct
payment of the relevant amount, interest or Obligations in accordance with Section 2.4 without necessity of any demand whether
or not a Default or Event of Default has occurred or is continuing. No payment or prepayment of any amount by Agent, Lenders or any other
Person shall entitle any Person to be subrogated to the rights of Agent and/or Lenders under any Loan Document unless and until the Obligations
(other than indemnity obligations of Borrower under the Loan Documents that are not then due and
payable or for which any events or claims that would give rise thereto are not then pending) have been fully performed and paid
indefeasibly in cash, the Revolving Loan Amount has been terminated and this Agreement has been terminated. Any sums expended or amounts
paid by Agent and/or Lenders as a result of Borrower’s failure to pay, perform or comply with any Loan Document or any of the Obligations
may be charged to Borrower’s account as a Revolving Advance and added to the Obligations.

 

(b)
Notwithstanding any provision of any Loan Document, Agent, in its sole discretion shall have the right, but not any obligation,
at any time that Borrower fails to do so as required pursuant to this Agreement, to: (i) discharge (at Borrower’s expense) Taxes
or Liens affecting any of the Collateral that have not been paid in violation of any Loan Document or that jeopardize the Agent’s
Lien priority in the Collateral, including any underlying collateral securing any Receivable; or (ii) make any other payment (at Borrower’s
expense) for the administration, servicing, maintenance, preservation or protection of the Collateral, including any underlying collateral
securing any Receivable or any advances on any Receivables or (iii) take such action as Agent may determine to preserve the performance,
enforceability or value of the Receivables including any advances on any Receivables (each such advance or payment set forth in clauses
(i), (ii) and (iii), a “Protective Advance”). Agent shall be reimbursed for all Protective Advances within two
(2) Business Days of written demand by Agent, (provided, however, Agent may, at its election, be reimbursed for Protective
Advances from available funds in the Collection Account prior to the occurrence of any Payment Date, and for the avoidance of doubt, all
Protective Advances are immediately payable by Borrower in connection with any acceleration of the Loan after an Event of Default in accordance
with this Agreement), and any Protective Advances shall bear interest at the Applicable Rate plus, if applicable, the Default Rate from
the date the Protective Advance is paid by Agent until it is repaid. No Protective Advance by Agent shall be construed as a waiver by
Agent, any Managing Agent or any Lender of any Default, Event of Default or any of the rights or remedies of Agent, any Managing Agent
or any Lender. Any such Protective Advances may be charged to Borrower’s account as a Loan and added to the Obligations.

 

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		2.8	Grant of Security Interest; Collateral

 

(a)
To secure the payment and performance of the Obligations, subject to Permitted Liens, Borrower hereby grants to Agent, for the
benefit of itself and the other Secured Parties, a valid, perfected and continuing first priority Lien upon all of Borrower’s right,
title, and interest, whether now owned or existing or hereafter from time to time acquired or coming into existence, in, to, and under
all of Borrower’s assets (collectively, the “Collateral”), including, but not limited to: (i) all
Receivables and all amounts due or to become due under the Receivables, (ii) all Portfolio Documents and all rights, remedies, powers,
privileges, and claims under the Portfolio Documents, (iii) the Intermediate Account, Custodial Account, Collection Account, the Collateral
Reserve Account, the Blocked Account and all funds and other property credited to the Intermediate Account, Custodial Account, Collection
Account, Blocked Account and Collateral Reserve Account, (iv) the Operating Account and all funds and other property credited to the Operating
Account; provided, however, that that such Lien on any amounts transferred or paid out of the Operating Account in accordance
the terms of this Agreement shall be automatically released upon such transfer or payment, (v) each Purchase and Sale Agreement, the Servicing
Agreement and, if any, Multi-Party Agreement and the Backup Servicing Agreement and all rights, remedies, powers, privileges, and claims
under those contracts, (vi) all Accounts, General Intangibles, Chattel Paper, Instruments, Documents, Goods, money and any rights to the
payment of money or other forms of consideration of any kind, Deposit Accounts, Investment Property, letters of credit, Letter-of-Credit
Rights, Contract Rights, Supporting Obligations, Equipment, Inventory, Fixtures, computer hardware, Software, securities, Permits, and
intellectual property (capitalized terms used in this clause (vi) and not otherwise defined herein shall have the meaning set forth
in Article 9 of the UCC), (vii) all other personal property and other types of property of Borrower (except as limited in clause (iv)
above), and (viii) all Proceeds (as defined in Article 9 of the UCC) of all of the foregoing and all other types of property of Borrower
(except as limited in clause (iv) above); provided, however, that such Lien on any dividends or distributions made
by Borrower permitted in Section 7.4 hereof shall be automatically released upon the making of such dividends and distributions.

 

(b)
Borrower has full right and power to grant to Agent, for the benefit of itself and the other Secured Parties, a perfected, first
priority Lien on the Collateral pursuant to this Agreement, subject to Permitted Liens. Upon the execution and delivery of this Agreement,
and upon the filing of the necessary financing statements and other documents and the taking of all other necessary action, Agent will
have a valid and first priority perfected Lien on the Collateral, subject to (i) no Liens of any kind in favor of any other Person other
than Permitted Liens and Liens under the Servicing Agreement, Backup Servicing Agreement, Verification Agreement and the Security Documents,
if any and (ii) no transfer or other restrictions except for those in the Purchase and Sale Agreement, Servicing Agreement, Backup Servicing
Agreement, Verification Agreement and the Security Documents, if any. As of the Closing Date, no financing statement naming Borrower as
debtor and describing any of the Collateral is on file in any public office except those naming Agent as secured party and those related
to the Permitted Liens.

 

(c) Borrower hereby
authorizes Agent to prepare and file financing statements provided for by the UCC (which financing statements may describe the
collateral covered thereby as “All assets of Debtor” or use a similar description) and to take such other action as may
be required, in Agent’s sole judgment, in order to perfect and to continue the perfection of Agent’s Lien on the
Collateral unless prohibited by law and subject to Permitted Liens.

 

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		2.9	Collateral Administration

 

(a)
All tangible Collateral, if any, (except tangible Collateral in the possession of Backup Servicer, Servicer, E-Vault Provider,
Verification Agent or Agent) will at all times be kept by Borrower at the locations set forth in Section 5.15 of Schedule A,
and shall not, without thirty (30) calendar days prior written notice to Agent, be moved therefrom other than to another such location,
and in any case shall not be moved outside the continental United States. Borrower hereby agrees to deliver (or cause the E-Vault Provider
to deliver or make available, as applicable), on or prior to the date of each Revolving Advance, (i) the Verification Deliverables to
the Backup Servicer for each Receivable that is to be added to the Collateral in connection with such Revolving Advance and (ii) access
to the Portfolio Documents to the Verification Agent for each Receivable that is to be added to the Collateral in connection with such
Revolving Advance. All Receivables constituting Collateral, shall, regardless of their location, be deemed to be under Agent’s dominion
and control and deemed to be in Agent’s possession. Borrower shall cooperate fully with Agent in an effort to facilitate and promptly
conclude such verification process. In addition to any provision of any Loan Document, Agent shall have the right at all times after the
occurrence and during the continuance of an Event of Default (i) to notify Account Debtors and/or Servicer that all Receivables of
Borrower including, if to Account Debtors, their Receivables have been assigned to Agent and that all collections from such Receivables
shall be paid directly to Agent, for the benefit of itself and the other Secured Parties, and (ii) to charge Borrower for any collection
costs and expenses, including reasonable attorney’s fees, incurred by Agent.

 

(b)
As and when reasonably determined by Agent, Agent will perform the searches described in clauses (i) and (ii) below
against Borrower and Originator: (i) UCC searches with the Secretary of State of the jurisdiction where such Person is organized; and
(ii) judgment, federal tax lien and corporate and partnership tax lien searches against the Borrower, in each jurisdiction where
the Borrower maintains its executive office.

 

(c)
Borrower shall, or shall use commercially reasonable efforts to cause Servicer to, keep accurate and complete records of the Collateral
and all payments and collections thereon and shall submit to Agent such records on such periodic basis as Agent may request in its reasonable
discretion.

 

(d) In respect of the
portion of the Collateral consisting of any Receivable which is evidenced by an electronic record that is a “transferable
record” as defined in Section 16 of the Uniform Electronic Transactions Act (as in effect in any relevant jurisdiction),
Borrower shall, or shall use commercially reasonable efforts to cause Originator and/or Servicer and/or E-Vault Provider to, deliver
to Agent the control of such transferable electronic record in accordance with Applicable Law, including the Uniform Electronic
Transactions Act as in effect in any relevant jurisdiction (to ensure, among other things, that Agent has a first priority perfected
Lien in such Collateral), which shall be delivered, at Borrower’s expense, to Agent at its address as set forth herein or as
otherwise specified by Agent and, except as otherwise expressly provided herein to the contrary, held in Agent’s possession,
custody, and control until all of the Obligations have been fully satisfied, the Agent is required hereunder or by Applicable Law to
release such documents or Agent otherwise expressly agrees to release such documents. Alternatively, Agent, in its sole discretion,
may elect for the Servicer, Originator, E-Vault Provider or any other agent to accept delivery of and maintain possession, custody,
and control of all such documents and any instruments on behalf of Agent during such period of time. Borrower shall identify (or
shall use commercially reasonable efforts to cause Originator and/or Servicer and/or E-Vault Provider to identify) on the related
electronic record the pledge of such Receivable by Borrower to Agent.

 

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(e)
Borrower hereby agrees to, and shall use commercially reasonable efforts to cause Originator and/or Servicer to, take all applicable
protective actions to prevent destruction of records pertaining to the Collateral in accordance with the Servicing Agreement and Multi-Party
Agreement. Subject to the limitations set forth in Section 6.7 of this Agreement, the Multi-Party Agreement and the Backup Servicing Agreement,
as applicable, Agent at all times shall have the right to access and review any and all Portfolio Documents in Borrower’s, Backup
Servicer’s, Originator’s, E-Vault Provider and/or Servicer’s possession and any and all data and other information relating
to Portfolio Documents as may from time to time be input to or stored within Borrower’s, Backup Servicer’s, Originator’s,
E-Vault Provider’s or Servicer’s computers and/or computer records including diskettes, tapes and other computer software
and computer systems.

 

(f)
During the existence of any Event of Default, at Agent’s request, Borrower shall execute or obtain, at its expense, the notation
or assignment of Liens in favor of Borrower or Agent on Titles for Financed Vehicles in form sufficient to effect such notation or assignment
in the jurisdiction in which the applicable Title and lien notation documents have been issued. Agent is hereby authorized, after the
occurrence and during the continuance of an Event of Default, to give directions under and exercise its rights under the Title Administrator
Agreement and/or Nominee Agreement and/or use the powers of attorney granted pursuant to this Agreement and/or any other Loan Documents
to execute any and all such Title documents that may be required to be executed by Originator or Borrower in connection therewith.

 

		2.10	Power of Attorney

 

Borrower hereby agrees
and acknowledges that Agent is hereby irrevocably made, constituted and appointed the true and lawful attorney for Borrower (without
requiring Agent to act as such) with full power of substitution to do the following: (i) indorse the name of Borrower upon any
and all checks, drafts, money orders and other instruments for the payment of money that are payable to Borrower and constitute
collections on the Receivables; (ii) execute and/or file in the name of Borrower any financing statements, amendments to
financing statements, schedules to financing statements, releases or terminations thereof, assignments, instruments or documents
that it is obligated to execute and/or file under any of the Loan Documents (to the extent Borrower fails to so execute and/or file
any of the foregoing within two (2) Business Days of Agent’s request or the time when Borrower is otherwise obligated to do
so); (iii) execute and/or file in the name of Borrower assignments, instruments, documents, schedules and statements that it is
obligated to give Agent under any of the Loan Documents (to the extent Borrower fails to so execute and/or file any of the foregoing
within two (2) Business Days of Agent’s request or the time when Borrower is otherwise obligated to do so) and (iv) do
such other and further acts and deeds in the name of Borrower that Agent may deem necessary to make, create, maintain, continue,
enforce or perfect the Secured Parties’, Lien on or rights in any Collateral. In addition, if Borrower breaches its obligation
hereunder to direct Collections to the Intermediate Account or Collection Account, as applicable, Agent, as the irrevocably made,
constituted and appointed true and lawful attorney for such Person pursuant to this paragraph, may, by the signature or other act of
any of Agent’s officers or authorized signatories (without requiring any of them to do so), direct any federal, state or
private payor or fiscal intermediary to pay Collections to the Collection Account or another account designated in writing by
Agent.

 

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		2.11	Collection Account

 

(a)
Collection Account. Deposits made into the Collection Account shall be limited to amounts deposited therein by Borrower,
Servicer, Originator or any Account Debtor in accordance with this Agreement.

 

(b)
Withdrawals from the Collection Account. Except as set forth in Section 2.11(c) below, unless an Event of Default
has occurred and is continuing, Borrower, upon the agreement of Agent pursuant to Section 2.4(e), has the right to withdraw or
order a transfer of funds from the Collection Account, in all events in accordance with the terms and provisions of this Agreement but
solely for application in accordance with Section 2.4(a); provided, that upon the occurrence and during the continuance of an Event
of Default, Agent shall, in its election, have the sole and exclusive right to withdraw or order a transfer of funds from the Collection
Account. Notwithstanding anything in the foregoing to the contrary, unless an Event of Default has occurred and is continuing, Borrower
or Servicer may, in addition to rights under Section 2.4(a), also withdraw or order transfers of funds from the Collection Account,
to the extent such funds either (i) have been mistakenly deposited into the Collection Account, (ii) relate to items subsequently
returned for insufficient funds or as a result of stop payments, or (iii) represent Excess Collections and are available to Borrower after
satisfaction of all conditions for release set forth in Section 2.11(c) below. In the case of any withdrawal or transfer pursuant
to the foregoing sentence, Borrower shall, or shall cause Servicer to provide Agent with notice of such request of withdrawal or transfer,
together with reasonable supporting details, two (2) Business Days prior to the date on which such requested withdrawal or transfer will
occur. Borrower shall cause Servicer to deposit all proceeds of the Collateral received in the Collection Account in accordance with the
Servicing Agreement. Borrower shall provide Agent with on-line access to view account related activity such as deposits to and withdrawals
from the Collection Account. Borrower shall cause an email notice to be sent to Agent upon the disbursement of any funds from the Collection
Account.

 

(c) Disbursement of
Excess Collections to Borrower. So long as no Default, Early Wind-Down Trigger Event or Event of Default has occurred and is
continuing or would result therefrom, Borrower may, on a daily basis, submit an Excess Collections Disbursement Request to Agent
requesting Agent to approve in writing to Borrower transmission of the Excess Collections as of such date to Borrower in an amount
of at least Two Hundred Fifty Thousand Dollars ($250,000), which Excess Collections Disbursement Request must be submitted with (i)
a Borrowing Base Certificate, dated as of the date of such Excess Collections Disbursement Request and updated with data as of the
date immediately preceding the date of such Borrowing Base Certificate, which evidences that Borrower is in compliance with the
Borrowing Base (i.e. the amount of Obligations do not exceed the then applicable Borrowing Base as evidenced by the updated and
current Borrowing Base Certificate delivered to Agent with such Excess Collections Disbursement Request) and (ii) a certification
that no Default, Early Wind-Down Trigger Event or Event of Default exists or is expected to occur as a result of such transmission
of Excess Collections, and Borrower expects compliance with the covenants set forth in Section 6.15 hereof both before and
after such requested disbursement of Excess Collections, and, so long as such conditions are met, Agent agrees to upon receipt
thereof, approve in writing Borrower’s transmission of such Excess Collections within two (2) Business Days of the submission
of such Excess Collections Disbursement Request and updated Borrowing Base Certificate. Borrower covenants and agrees that all
Excess Collections disbursed pursuant to this Section 2.11(c) shall only be used by Borrower for the acquisition of Eligible
Assets pursuant to the Purchase and Sale Agreement. Borrower shall not distribute or transmit any Excess Collections pursuant to
this Section 2.11(c) without the prior written approval and consent of Agent.

 

(d)
Irrevocable Deposit. Any deposit made into the Collection Account hereunder shall, except as otherwise provided herein,
be irrevocable, and the amount of such deposit and any money, instruments, investment property or other property on deposit in, carried
in or credited to the Collection Account hereunder and all interest thereon shall be held in trust by Agent and applied solely as provided
herein.

 

		2.12	Inability to Determine Rates

 

(a)
Subject to clauses (b), (c), (d), (e), (f) and (g) of this Section 2.12, if prior to the commencement of any Interest Period:

 

(i)
the Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not
exist for ascertaining the applicable Benchmark (including because any screen rate necessary to determine such rate is not available or
published on a current basis), for such Interest Period (or for such day); provided that no Benchmark Transition Event shall have occurred
at such time with respect to such Benchmark; or

 

(ii)
the Agent is advised by any Lender(s) that the applicable Benchmark for such Interest Period (or for such day) will not adequately
and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loan(s) for such Interest Period (or for such day);

 

then the Agent shall give notice thereof
to the Borrower and the Lenders by telephone, telecopy or electronic mail as promptly as practicable thereafter and, until the Agent notifies
the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, the interest rate applicable to Loans
that would otherwise be funded or maintained based on the applicable Benchmark shall be the Base Rate.

 

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(b)
Notwithstanding anything to the contrary herein or in any other Loan Document, if a Benchmark Transition Event and its related
Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then
(x) if a Benchmark Replacement is determined in accordance with clause (1), (2), or (3) of the definition of “Benchmark
Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes
hereunder and under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings without any amendment
to, or further action or consent of any other party to, this Agreement or any other Loan Document and (y) if a Benchmark Replacement
is determined in accordance with clause (4) of the definition of “Benchmark Replacement” for such Benchmark Replacement
Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of
any Benchmark setting at or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such
Benchmark Replacement is provided to the Lenders without any amendment to, or further action or consent of any other party to, this
Agreement or any other Loan Document so long as the Agent has not received, by such time, written notice of objection to such
Benchmark Replacement from the Requisite Lenders.

 

(c)
Notwithstanding anything to the contrary herein or in any other Loan Document and subject to the proviso below in this paragraph,
if a Term SOFR Transition Event or a Compounded SOFR Transition Event and, in any such case, its related Benchmark Replacement Date have
occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then the applicable Benchmark Replacement
will replace the then-current Benchmark for all purposes hereunder or under any Loan Document in respect of such Benchmark setting and
subsequent Benchmark settings, without any amendment to, or further action or consent of any other party to, this Agreement or any other
Loan Document; provided that this clause (c) shall not be effective unless the Agent has delivered to the Lenders and the Borrower a Term
SOFR Notice or a Compounded SOFR Notice, as the case may be.

 

(d)
In connection with the implementation of a Benchmark Replacement, the Agent will have the right to make Benchmark Replacement Conforming
Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing
such Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement
or any other Loan Document.

 

(e)
The Agent will promptly notify the Borrower and the Lenders of (i) any occurrence of a Benchmark Transition Event and its related
Benchmark Replacement Date, (ii) the implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement
Conforming Changes, (iv) the removal or reinstatement of any tenor of a Benchmark pursuant to clause (f) below and (v) the commencement
or conclusion of any Benchmark Unavailability Period, provided that any failure by the Agent to so notify any Lender shall not affect
the Agent’s right to take or refrain from taking any action permitted under this Section 2.12(e). Any determination, decision
or election that may be made by the Agent or, if applicable, any Lender (or group of Lenders) pursuant to this Section 2.12(e),
including any determination with respect to a tenor, rate or adjustment or of the occurrence or nonoccurrence of an event, circumstance
or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error
and may be made in its or their sole discretion and without consent from any other party to this Agreement or any other Loan Document,
except, in each case, as expressly required pursuant to this Section 2.12(e).

 

(f)
Notwithstanding anything to the contrary herein or in any other Loan Document, at any time (including in connection with the
implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including Term SOFR) and either (A)
any tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as
selected by the Agent in its reasonable discretion or (B) the regulatory supervisor for the administrator of such Benchmark has
provided a public statement or publication of information announcing that any tenor for such Benchmark is or will be no longer
representative, then the Agent may modify the definition of “Interest Period” for any Benchmark settings at or after
such time to remove such unavailable or nonrepresentative tenor and (ii) if a tenor that was removed pursuant to clause (i) above
either (A) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (B)
is not, or is no longer, subject to an announcement that it is or will no longer be representative for a Benchmark (including a
Benchmark Replacement), then the Agent may modify the definition of “Interest Period” for all Benchmark settings at or
after such time to reinstate such previously removed tenor.

 

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(g)
Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, any Loan that would otherwise
be funded or maintained based on the relevant Benchmark shall during such Benchmark Unavailability Period instead be funded or maintained
based on the Base Rate. During any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an
Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable,
will not be used in any determination of the Base Rate.

 

		2.13	Exclusive Right to Finance.

 

At any time prior to the last
day of the Revolving Period, so long as the then outstanding principal balance of the Revolving Advances is less than an amount equal
to ninety percent (90%) of the then-applicable Maximum Loan Amount, Originator and Parent’s other direct or indirect Subsidiaries
(other than Borrower) shall contribute to Borrower (and Borrower shall pledge as Collateral hereunder) one hundred percent (100%) of all
Eligible Receivables or Receivables substantially similar to the criteria set forth in the definition of “Eligible Receivables”
originated, acquired or held by Originator or Parent’s other direct and indirect Subsidiaries (other than Borrower) (calculated
as a percentage of Receivables Balance) on the same terms and conditions set forth in this Agreement.

 

	III.	FEES AND OTHER CHARGES

 

		3.1	Computation of Fees; Lawful Limits

 

All fees hereunder shall
be computed on the basis of a 360-day year and shall be payable for the actual number of days elapsed. In no contingency or event
whatsoever, whether by reason of acceleration or otherwise, shall the interest and other charges paid or agreed to be paid to Agent,
for the benefit of itself and the other Lenders, for the use, forbearance or detention of money hereunder exceed the maximum rate
permissible under Applicable Law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto.
If, due to any circumstance whatsoever, fulfillment of any provision hereof, at the time performance of such provision shall be due,
shall exceed any such limit, then the obligation to be so fulfilled shall be reduced to such lawful limit, and, if Agent or Lenders
shall have received interest or any other charges of any kind which might be deemed to be interest under Applicable Law in excess of
the Maximum Rate, then such excess shall be applied first to any unpaid fees and charges hereunder, then to unpaid
principal balance owed by Borrower hereunder, and if the then remaining excess interest is greater than the previously unpaid
principal balance, Agent and Lenders shall promptly refund such excess amount to Borrower and the provisions hereof shall be deemed
amended to provide for such permissible rate. The terms and provisions of this Section 3.1 shall control to the extent
any other provision of any Loan Document is inconsistent herewith.

 

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		3.2	Default Rate of Interest

 

Upon the occurrence and during
the continuation of an Event of Default, the Applicable Rate of interest then in effect at such time with respect to the Obligations shall
be, unless waived by Agent, increased by three percent (3.0%) per annum (subject to the Maximum Rate) (the “Default Rate”).
Interest at the Default Rate shall accrue from the initial date of such Event of Default until such Event of Default is waived or ceases
to continue, and shall be payable upon demand.

 

		3.3	Increased Costs; Capital Adequacy

 

(a)
If any Change in Law shall:

 

(i)
impose, modify or deem applicable any reserve, special deposit, liquidity or similar requirement (including any compulsory loan
requirement, insurance charge or other assessment) against assets of, deposits with or for the account of, or credit extended by, any
Secured Party;

 

(ii)
impose on any Secured Party or the London interbank market any other condition, cost or expense (other than Taxes) affecting this
Agreement or Advances made by such Secured Party or participation therein; or

 

(iii)
subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through
(d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments,
or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto;

 

and the result of any of the
foregoing shall be to increase the cost to such Secured Party or such other Recipient of making or maintaining any Loan or of maintaining
its obligation to make any such Loan or to reduce the amount of any sum received or receivable by such Secured Party or such other Recipient
hereunder, whether of principal, interest or otherwise, then Borrower will pay to such Secured Party or such other Recipient, as the case
may be, such additional amount or amounts as will compensate such Secured Party or such other Recipient, as the case may be, for such
additional costs incurred or reduction suffered.

 

(b) If any Secured Party
determines that any Change in Law regarding capital or liquidity requirements has or would have the effect of reducing the
rate of return on such Secured Party’s capital or on the capital of such Secured Party’s holding company, if any, as a
consequence of this Agreement or the Loan made by such Secured Party to a level below that which such Secured Party or such Secured
Party’s holding company could have achieved but for such Change in Law (taking into consideration such Secured Party’s
policies and the policies of such Secured Party’s holding company with respect to capital adequacy and liquidity), then from
time to time Borrower will pay to such Secured Party’s such additional amount or amounts as will compensate such Secured
Party’s or such Secured Party’s holding company for any such reduction suffered.

 

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(c)
A certificate of a Secured Party’s related Managing Agent setting forth the amount or amounts necessary to compensate such
Secured Party or its holding company, as the case may be, as specified in paragraph (a) or (b) of this Section shall be delivered
to Borrower and shall be conclusive absent manifest error. Borrower shall pay the applicable Secured Party the amount shown as due on
any such certificate within ten (10) days after receipt thereof.

 

(d)
Failure or delay on the part of any Secured Party to demand compensation pursuant to this Section shall not constitute a waiver
of such Secured Party’s right to demand such compensation; provided that Borrower shall not be required to compensate a Secured
Party pursuant to this Section for any increased costs or reductions incurred more than 270 days prior to the date that such Secured
Party notifies Borrower of the Change in Law giving rise to such increased costs or reductions and of such Secured Party’s intention
to claim compensation therefor; provided further that, if the Change in Law giving rise to such increased costs or reductions is
retroactive, then the 270-day period referred to above shall be extended to include the period of retroactive effect thereof.

 

(e)
If any Lender requests compensation under this Section 3.3, or Borrower is required to pay any Indemnified Taxes or additional
amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 14.1, then such Lender shall
(at the request of Borrower) use reasonable efforts to designate a different lending office for funding or booking its Loan hereunder
or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender,
such designation or assignment (i) would eliminate or reduce amounts payable pursuant to this Section 3.3 or Section 14.1,
as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise
be disadvantageous to such Lender. Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection
with any such designation or assignment.

 

		3.4	Upfront Fee

 

(a)
On the Closing Date, Borrower shall pay to Agent, for the benefit of the Lenders, a nonrefundable upfront fee (the “Upfront
Fee”) equal to one percent (1.00%) of the Maximum Loan Amount on the Closing Date, which shall be deemed fully earned and non-refundable
on the Closing Date.

 

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	IV.	CONDITIONS PRECEDENT

 

		4.1	Conditions to Closing

 

(a)
The obligations of Agent, Managing Agents and Lenders to consummate the transactions contemplated herein are subject to the satisfaction
(or waiver), in the sole judgment of Agent, of the following:

 

(b)
 (i) Borrower shall have delivered to Agent the Loan Documents to which it or any Affiliate of Borrower is a party, each duly executed
by a Responsible Officer of Borrower and the other parties thereto, and (ii) each other Person shall have delivered to Agent the
Loan Documents to which it is a party, each duly executed and delivered by such Person and the other parties thereto;

 

(c)
all in form and substance satisfactory to Agent in its sole discretion, Agent shall have received (i) a report of UCC financing
statement, tax and judgment lien searches performed with respect to Borrower and Originator in each jurisdiction determined by Agent in
its sole discretion, and such report shall show no Liens on the Collateral (other than Permitted Liens), (ii) each document (including
any UCC financing statement) required by any Loan Document or under law or reasonably requested by Agent to be filed, registered or recorded
to create, in favor of Agent, for the benefit of itself and the other Secured Parties, a first priority and perfected security interest
upon the Collateral, and (iii) evidence of each such filing, registration or recordation and of the payment by Borrower of any necessary
fee, tax or expense relating thereto;

 

(d)
Agent shall have received (i) the Charter and Good Standing Documents of Borrower and Indemnitor, all in form and substance acceptable
to Agent in its reasonable discretion, (ii) a certificate of the secretary or assistant secretary of each of Borrower and Indemnitor in
his or her capacity as such and not in his or her individual capacity dated the Closing Date, as to the incumbency and signature of the
Persons executing the Loan Documents on behalf of such Person in form and substance acceptable to Agent in its sole discretion, and (iii)
a certificate executed by an authorized officer of Borrower, which shall constitute a representation and warranty by Borrower as of the
Closing Date that the conditions contained in this Agreement have been satisfied;

 

(e)
Agent shall have received the Multi-Party Agreement duly executed and delivered by Borrower, Servicer and Originator, in substance
and form satisfactory to Agent in its sole discretion;

 

(f)
Agent shall have received the written legal opinions of Borrower’s outside legal counsel including true sale, non-consolidation,
covered fund matters under the Volcker Rule, Investment Company Act, enforceability, authority and other closing matters, all in form
and substance satisfactory to Agent and its counsel;

 

(g)
Agent shall have received a certificate of the chief financial officer (or, in the absence of a chief financial officer, the chief
executive officer or chief administrative officer) of Borrower, in his or her capacity as such and not in his or her individual capacity,
in form and substance satisfactory to Agent in its sole discretion (each, a “Solvency Certificate”), certifying
(i) the solvency of Borrower, after giving effect to the transactions and the Indebtedness contemplated by the Loan Documents, and
(ii) as to Borrower’s financial resources and anticipated ability to meet its obligations and liabilities as they become due,
to the effect that as of the Closing Date, and after giving effect to such transaction and Indebtedness: (A) the assets of Borrower,
individually and on a consolidated basis, at a Fair Valuation, exceed the Total Liabilities (including contingent, subordinated, unmatured
and unliquidated liabilities) of Borrower, and (B) no unreasonably small capital base with which to engage in its anticipated business
exists with respect to Borrower;

 

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(h)
 Agent shall have completed examinations, the results of which shall be satisfactory in form and substance to Agent, of Borrower,
including (i) an examination of background checks with respect to the managers, officers and owners of Borrower, Indemnitor and Servicer
and (ii) an examination of the Collateral, and Borrower shall have demonstrated to Agent’s satisfaction, in its sole discretion,
that (x) the forms of Portfolio Documents used by Originator comply, in all respects deemed material by Agent, in its sole discretion,
with all Applicable Law and (y) no operations of Borrower, Originator or Servicer are the subject of any governmental investigation, evaluation
or any remedial action which reasonably could be expected to result in it being unable to perform its obligations in connection with these
transactions, and (z) Borrower has no other liabilities or obligations (whether contingent or otherwise) that are deemed material
by Agent, in its sole discretion;

 

(i)
Agent shall have received (or is satisfied that it will receive simultaneously with the funding of the initial Revolving Advance)
all fees, charges and expenses due and payable to Agent, Managing Agents and Lenders on or prior to the Closing Date pursuant to the Loan
Documents, including the Upfront Fee;

 

(j)
all corporate and other proceedings, documents, instruments and other legal matters in connection with the transactions contemplated
by the Loan Documents (including those relating to corporate and capital structures of Borrower) shall be satisfactory to Agent in its
sole discretion;

 

(k)
(i) no default (after any applicable grace or cure period has expired or been cancelled) shall exist pursuant to any obligations
of Borrower, if any, under any material contract, and Borrower shall be in compliance in all material respects with all Applicable Laws,
(ii) no Event of Default shall exist and be continuing under this Agreement or any other Loan Document and (iii) there shall exist no
fact, condition or circumstance which, with the passage of time, the giving of notice or both, could reasonably be expected to result
in a Material Adverse Effect;

 

(l)
none of Borrower, Indemnitor or Servicer nor any of the officers of Borrower or Indemnitor (or with respect to Borrower, key management
personnel) are under indictment for or under active investigation for a felony crime;

 

(m) Agent shall have received
evidence of release and termination of, or Agent’s authority to release and terminate, any and all Liens and/or UCC financing statements
in, on, against or with respect to any of the Collateral (other than Permitted Liens);

 

(n)
the Liens in favor of the Agent, for the benefit of itself and the other Secured Parties, shall have been duly perfected and shall
constitute first priority Liens, and the Collateral shall be free and clear of all Liens other than Liens in favor of the Agent, for the
benefit of itself and the other Secured Parties, in all cases subject to Permitted Liens;

 

(o)
Borrower and Agent shall have established the Collection Account, Blocked Account and the Collateral Reserve Account and Agent
shall have received a duly executed account control agreement in favor of Agent, and in form and substance acceptable to Agent, in relation
to each of the same; and

 

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(p)
 Agent shall have received such other documents and items as Agent deems necessary, in its reasonable discretion.

 

		4.2	Conditions to Revolving Advances and Funding of Borrowings

 

(a)
The consideration of Lenders to make any Revolving Advances, including the initial Revolving Advance, during the Revolving Period
are subject, at a minimum, to the satisfaction (or waiver), in the sole judgment of Agent, of the following:

 

(i)
Borrower shall have delivered to Agent and each Managing Agent, not later than 12:59 p.m. (New York City time) on the date that
is two (2) Business Days prior to the proposed date for such requested Revolving Advance, an irrevocable request for advance in the form
of Exhibit E (a “Request for Revolving Advance”), and a Borrowing Base Certificate for such Revolving
Advance with necessary supporting documentation executed by a Responsible Officer of Borrower, which shall constitute a representation
and warranty by Borrower as of the date of such Advance that the conditions contained in this Section 4.2, have been satisfied;

 

(ii)
each of the representations and warranties made by Borrower in or pursuant to the Loan Documents shall be accurate in all material
respects before and after giving effect to the making of such Revolving Advance (except for those representations and warranties made
as of a specific date), Borrower shall be in compliance with all covenants, agreements and obligations under the Loan Documents;

 

(iii)
no Default, Event of Default or Early Wind-Down Trigger Event shall have occurred and be continuing or would exist after giving
effect to the requested Revolving Advance on such date;

 

(iv)
immediately after giving effect to the requested Revolving Advance, the aggregate outstanding principal amount of the Revolving
Advances shall not exceed the lesser of (i) the Maximum Loan Amount and (ii) the Borrowing Base;

 

(v)
Agent shall have received all fees, charges and expenses to the extent due and payable to Agent, Managing Agents and Lenders on
or prior to such date pursuant to the Loan Documents;

 

(vi)
there shall not have occurred any Material Adverse Effect;

 

(vii)
in respect of the portion of the Collateral consisting of any Receivable which is evidenced by an electronic record that is a “transferable
record” as defined in Section 16 of the Uniform Electronic Transactions Act (as in effect in any relevant jurisdiction), Borrower
shall, or cause Originator, E-Vault Provider and/or Servicer, as applicable, to, deliver to Agent the control of such transferable electronic
record in accordance with Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction;

 

(viii) no
Regulatory Event impacting any Receivable to be pledged in connection with such Advance shall have occurred or be continuing on such
date; notwithstanding anything set forth herein, and for the avoidance of doubt, the condition precedent to each Revolving Advance
set forth in this clause (viii) shall in no way restrict, limit or have any effect whatsoever on the requirements set forth in this
Agreement that each Receivable at all times comply with each and every requirement set forth in the definition of Eligible
Receivables for such Receivable to constitute an Eligible Receivable hereunder;

 

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(ix)
other than with respect to Receivables pledged in connection with the initial Advance, Verification Agent shall have received access
to the Verification Deliverables and delivered to Agent a certification pursuant to the Verification Agreement without exceptions with
respect to each Receivable included in the calculation of the Borrowing Base in relation to such applicable Revolving Advance;

 

(x)
the initial Revolving Advance shall be in an amount no less than $4,500,000; and

 

(xi)
all other documents requested by Agent and legal matters in connection with the transactions contemplated by this Agreement shall
have been delivered, executed, or recorded and shall be in form and substance reasonably satisfactory to Agent.

 

(b)
Promptly following receipt of a Request for Revolving Advance in accordance with Section 4.2(a) and all other deliverables
described therein, each Managing Agent shall advise each Lender in such Managing Agent’s Lender Group of the details thereof and
of such Lender Group’s Pro Rata Share of such requested Advance. No later than 2:00 p.m (New York City time) on the date of a requested
Advance, each Conduit Lender may, in its sole discretion, and each Bank Branch in a Lender Group that does include any Conduit Lenders
may, in its sole discretion, make each Advance to be made by it hereunder on the proposed date thereof by initiation of a wire transfer
of immediately available funds by 2:00 p.m (New York City time) to the account of Agent most recently designated by it for such purpose
by notice to Lenders. If a Conduit Lender elects not to fund its Lender Group’s respective Pro Rata Share of the Request for Revolving
Advance, such Conduit Lender’s related Bank Branch may make each Advance to be made by it hereunder on the proposed date thereof
by initiation of a wire transfer of immediately available funds by 2:00 p.m (New York City time) to the account of Agent most recently
designated by it for such purpose by notice to Lenders and each Managing Agent. Agent shall not, on behalf of any Lender, make Advances
hereunder prior to receipt of funds from such Lender. No Bank Branch shall be obligated to make an Advance on behalf of another Bank Branch
or Conduit Lender in a Lender Group other than such Bank Branch’s Lender Group.

 

(c)
Agent, Lenders and Borrower hereby agree that upon funding of any Revolving Advance, the Borrowing Base Certificate prepared by
Borrower and approved by Agent shall automatically supplement and add the Receivables described therein to any Receivables described in
any previously-delivered Borrowing Base Certificate and shall constitute Collateral for purposes of this Agreement.

 

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	V.	REPRESENTATIONS AND WARRANTIES

 

Borrower represents and warrants
as of the Closing Date and as of the date of each Revolving Advance as follows:

 

		5.1	Organization and Authority

 

Borrower is a limited liability
company, duly organized, validly existing and in good standing under the laws of its state of organization. Borrower (a) has all requisite
power and authority to own its properties and assets (including the Collateral) and to carry on its business as now being conducted and
as contemplated in the Loan Documents, and (b) is duly qualified to do business in the jurisdictions set forth in Section 5.1
of Schedule A attached hereto, which are all of the jurisdictions in which failure to so qualify could reasonably be likely to
have or result in a Material Adverse Effect. Borrower has all requisite power and authority (i) to execute, deliver and perform the
Loan Documents to which it is a party, (ii) to acquire the Receivables and related Collateral under the Purchase and Sale Agreement, (iii) to
consummate the transactions contemplated under the Loan Documents to which it is a party, and (iv) to grant the Liens with regard
to the Collateral pursuant to the Security Documents to which it is a party. Borrower has no other operations or business other than owning
the Receivables. Borrower has all requisite power and authority to borrow hereunder. Borrower is not an “investment company”
registered or required to be registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”),
nor controlled by such an “investment company.” The Loan made by Agent and Lenders hereunder does not constitute an “ownership
interest” in a covered fund as such terms are defined under the Volcker Rule. Although statutory or regulatory exemptions under
the Investment Company Act may be available on or after the Closing Date, the Borrower on the Closing Date does not fall within the definition
of an “investment company.”  Either (I) the Borrower is not a “covered fund” for purposes of regulations
adopted under Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), or (II) the interest
of the Lenders and the Agent hereunder (including, without limitation, the Loans) does not constitute an “ownership interest”
in a “covered fund” for purposes of Dodd-Frank. No transaction contemplated in this Agreement or the other Loan Documents
requires compliance with any bulk sales act or similar law.

 

		5.2	Loan Documents

 

The execution, delivery
and performance by Borrower of the Loan Documents to which it is a party, and the consummation by Borrower of the transactions
contemplated thereby, (a) have been duly authorized by all requisite limited liability company action of Borrower and have been
duly executed and delivered to Agent by Borrower; (b) do not violate any material provisions of (i) any Applicable Law or,
order of any Governmental Authority binding on Borrower or any of its properties, or (ii) the operating agreement (or any other
equivalent governing agreement or document) of Borrower, or any agreement between Borrower and its equity owners or among any such
equity owners; (c) are not in conflict with, and do not result in a breach or default of or constitute an event of default, or
an event, fact, condition or circumstance which, with notice or passage of time, or both, could reasonably be expected to constitute
or result in a conflict, breach, default or event of default under, any indenture, agreement or other instrument to which Borrower
is a party, or by which the properties or assets of Borrower is bound; (d) except as set forth herein or therein, will not
result in the creation or imposition of any Lien of any nature upon any of the properties or assets of Borrower, and (e) except
for filings in connection with the perfection of Agent’s Liens, do not require the consent, approval or authorization of, or
filing, registration or qualification with, any Governmental Authority or any other Person that has not been obtained except where
the failure to so obtain could not reasonably be expected to result in a Material Adverse Effect. When executed and delivered, each
of the Loan Documents will constitute the legal, valid and binding obligation of Borrower, enforceable against Borrower in
accordance with its terms, subject to the effect of any applicable bankruptcy, moratorium, insolvency, reorganization or other
similar law affecting the enforceability of creditors’ rights generally and to the effect of general principles of equity
(whether in a proceeding at law or in equity). The Purchase and Sale Agreement is the only agreement pursuant to which Borrower
purchases the Receivables and the related Collateral, unless otherwise mutually agreed to in writing by Borrower and Agent. Borrower
has furnished to the Agent true, correct and complete copies of the Purchase and Sale Agreement. Each purchase by Borrower under the
Purchase and Sale Agreement constitutes a sale enforceable against creditors of Originator. Each Purchase and Sale Agreement
constitutes the legal, valid and binding obligation of the parties thereto, enforceable against such parties in accordance with
their respective terms, subject to the effect of any applicable bankruptcy, moratorium, insolvency, reorganization or other similar
law affecting the enforceability of creditors’ rights generally and to the effect of general principles of equity (whether in
a proceeding at law or in equity). There is no provision in the Purchase and Sale Agreement that would restrict the ability of
Borrower to collaterally assign its rights thereunder to Agent, for the benefit of the Secured Parties.

 

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		5.3	Subsidiaries, Capitalization and Ownership Interests

 

Borrower has no Subsidiaries
as of the Closing Date, and 100% of the outstanding Equity Interests in Borrower are directly owned (in the aggregate and both beneficially
and of record) by Originator. The outstanding ownership or Voting Interests of Borrower have been duly authorized and validly issued.
Section 5.3 of Schedule A attached hereto, lists all holders of Equity Interests in, and administrators, managers or managing
members or directors of, Borrower and Originator as of the Closing Date. Except as disclosed pursuant to Section 5.16, Borrower
does not (i) own any Investment Property (as defined in Article 9 of the UCC) or (ii) own any interest or participate or engage
in any joint venture, partnership or similar arrangements with any Person. Except as set forth in Section 5.3 of Schedule A
attached hereto, no Person directly or indirectly owns greater than twenty percent (20%) of the outstanding Equity Interests of Parent
on the Closing Date.

 

		5.4	Receivables

 

Borrower is the lawful owner
of, and has good title to, each Receivable, free and clear of any Liens (other than the Lien of this Agreement and any Permitted Liens).

 

		5.5	Other Agreements

 

Neither Borrower nor
Originator is (a) a party to any judgment, order or decree or any agreement, document or instrument, or subject to any
restriction, which is reasonably expected to have a Material Adverse Effect on its ability to execute and deliver, or perform under,
any Loan Document or to pay the Obligations or (b) in default in the performance, observance or fulfillment of any obligation,
covenant or condition contained in any agreement, document or instrument to which it is a party or to which any of its properties or
assets are subject, which default could reasonably be expected to be, have or result in a Material Adverse Effect, nor is there any
event, fact, condition or circumstance which, with notice or passage of time or both, would constitute or result in a conflict,
breach, default or event of default under, any of the foregoing which, could reasonably be expected to be, have or result in a
Material Adverse Effect.

 

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		5.6	Litigation

 

Except as set forth in Section 5.6
of Schedule A, (a) neither Borrower nor Originator is a party to any material pending or threatened in writing action, suit,
proceeding or investigation related to the business of such Person other than in connection with enforcing Customer Loan Documents against
any Account Debtor or other obligor thereunder, (b) Parent is not party to any material pending or threatened action, suit, proceeding
or investigation related to the business of Parent that could reasonably be expect to result in a Material Adverse Effect, (c) there
is no pending or, to the knowledge of Borrower or Indemnitor, threatened action, suit, proceeding or investigation involving Borrower,
or any Collateral, and, to Borrower’s knowledge, there is no pending or threatened action, suit, proceeding or investigation involving
Indemnitor or Servicer or their respective businesses, in any case that could reasonably be expected to prevent or delay the consummation
by Borrower, Parent, Originator or Servicer of the transactions contemplated herein, (d) Borrower has not had any reason to believe
that any material action, suit, proceeding or investigation may be brought or threatened against Borrower’s business or the Collateral,
(e) neither Borrower nor Indemnitor is a party or subject to any order, writ, injunction, judgment or decree of any Governmental
Authority, nor is there any action, suit, proceeding, inquiry or investigation by any Governmental Authority, in either case, that could
reasonably be expected to prevent or delay the consummation by Borrower, Parent or Indemnitor of the transactions contemplated herein,
and (f) Borrower has had no existing accrued and/or unpaid penalties, fines or sanctions imposed by and owing to any Governmental Authority
or any other governmental payor. Borrower agrees that, no later than January 31st of each year (commencing in 2023) it will provide an
updated Section 5.6 of Schedule A attached hereto, with respect to any matters described in this Section 5.6 that
continue to exist or arose during the prior calendar year, provided, that Borrower may provide an updated Section 5.6 of Schedule A as
often as desired but shall provide such update within five (5) Business Days upon the request of Agent, provided, further,
that the delivery of any updated Section 5.6 of Schedule A shall not cure any Default or Event of Default which occurred
as a result of a misrepresentation under this Section 5.6 prior to the latest updated Section 5.6 of Schedule A.

 

		5.7	Financial Statements and Reports

 

Any financial statements
and financial information relating to Borrower and Indemnitor that may hereafter be delivered to Agent by Borrower (a) are
consistent with the books of account and records of Borrower and Indemnitor, (b) have been prepared in accordance with GAAP, on
a consistent basis throughout the indicated periods, except that the unaudited financial statements contain no footnotes or year-end
adjustments and shall book the Receivable at cost, and (c) present fairly in all material respects the financial condition,
assets and liabilities and results of operations of Borrower and Indemnitor at the dates and for the relevant periods indicated in
accordance with GAAP on a basis consistently applied. Borrower and Indemnitor do not have any material obligations or liabilities of
any kind required to be disclosed therein that are not disclosed in such financial statements, and since the date of the most recent
financial statements submitted to Agent pursuant to Section 6.1, there has not occurred any Material Adverse Effect or, to
Borrower’s knowledge, any other event or condition that could reasonably be expected to be, have or result in a Material
Adverse Effect that has not been disclosed to Agent.

 

		5.8	Compliance with Law

 

Except as set forth in Section 5.8
of Schedule A attached hereto, Borrower, Originator, and to Borrower’s knowledge, Servicer (in the case of Servicer, solely
with respect to the servicing of the Receivables, as applicable) (a) are in compliance in all material respects with Applicable Laws,
and (b) are not in violation of any order of any Governmental Authority or other governmental board or tribunal. Parent is in compliance
in all material respects with Applicable Laws except where noncompliance, violation or lack thereof could not reasonably expected to have
or result in a Material Adverse Effect. Borrower has not established and does not maintain or contribute to any “benefit plan”
that is covered by Title IV of ERISA. Borrower, Indemnitor, and to Borrower’s knowledge, Servicer have maintained in all material
respects all records required to be maintained by any applicable Governmental Authority with regard to the transaction contemplated hereby.
Since its formation, Borrower has not engaged, directly or indirectly, in any business other than the activities set forth herein and
in the Purchase and Sale Agreement, the Servicing Agreement, the Verification Agreement and the Loan Documents. Borrower agrees that,
no later than January 31st of each year (commencing in 2023) it will provide an updated Section 5.8 of Schedule A attached
hereto, with respect to any matters described in this Section 5.8 that continue to exist or arose during the prior calendar year,
provided, that Borrower may provide an updated Section 5.8 of Schedule A as often as desired but shall provide such update within five
(5) Business Days upon the request of Agent, provided, further, that the delivery of any updated Section 5.8 of Schedule
A shall not cure any Default or Event of Default which occurred as a result of a misrepresentation under this Section 5.8 prior
to the latest updated Section 5.8 of Schedule A.

 

		5.9	Licenses and Permits

 

Borrower, Originator, and
to Borrower’s knowledge, Servicer are in compliance with and have all Permits necessary or required by Applicable Law or any Governmental
Authority for the operation of their respective businesses as presently conducted and as to the Borrower and Originator, as proposed to
be conducted. All Permits necessary or required by Applicable Law or Governmental Authority for the operation of Borrower’s, Originator’s,
and to the knowledge of Borrower, Servicer’s, businesses are not in known conflict with the rights of others.

 

		5.10	No Default; Solvency

 

There does not exist any Event
of Default. Borrower is and, after giving effect to the transactions and the incurrence of Indebtedness contemplated by the Loan Documents,
will be solvent and able to meet its obligations and liabilities as they become due, and the assets of Borrower, at a Fair Valuation,
exceed the Total Liabilities (including contingent, subordinated, unmatured and unliquidated liabilities) of Borrower, and no unreasonably
small capital base exists with respect to Borrower.

 

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		5.11	Disclosure

 

No Loan Document nor any other
agreement, document, certificate, or written statement furnished to Agent, Managing Agents and Lenders and prepared by or on behalf of
Borrower or Indemnitor in connection with the transactions contemplated by the Loan Documents, nor any representation or warranty made
by Borrower or Indemnitor in any Loan Document, contained when made any untrue statement of fact or omits to state any fact necessary
to make the factual statements therein taken as a whole not misleading in light of the circumstances under which it was furnished. There
is no fact known to Borrower or Indemnitor which has not been disclosed to Agent in writing which could reasonably be expected to be,
have or result in a Material Adverse Effect.

 

		5.12	Existing Indebtedness; Investments, Guarantees and Certain
Contracts

 

Borrower does not (a) have
any outstanding Indebtedness, except Indebtedness under the Loan Documents, or (b) own or hold any equity investments in, or have
any outstanding guarantees for, the obligations of any other Person, except as permitted under Section 7.1.

 

		5.13	Affiliated Agreements

 

As of the Closing Date, other
than the Loan Documents, except as set forth in Section 5.13 of Schedule A, there are no existing or proposed agreements
or transactions between Borrower, on the one hand, and Borrower’s members, managers, administrators, trustees, managing members,
investors, officers, directors, stockholders, other equity holders, employees, or Affiliates or any members of their respective families,
on the other hand.

 

		5.14	Insurance

 

As of the Closing Date, Borrower
has in full force and effect such insurance policies as are listed in Section 5.14 of Schedule A.

 

		5.15	Names; Location of Offices, Records and Collateral

 

Neither Borrower nor any of
its predecessors has conducted business under or used any name (whether corporate, partnership or assumed) other than as shown in Section
5.15 of Schedule A attached hereto. Borrower is (or Borrower’s predecessors were) the sole owner(s) of all of its names
listed in Section 5.15 of Schedule A, and any and all business done in such names are Borrower’s (or any such
predecessors’) business. Borrower and Originator on the Closing Date each maintains, and since its inception, its predecessors maintained,
respective places of business and chief executive office only at the locations set forth in Section 5.15 of Schedule A
or, after the Closing Date, as additionally disclosed to Agent in writing, and all copies of the Portfolio Documents and all books and
records in connection therewith or in any way relating thereto are located and shall be only, in and at the locations set forth in Section 5.15
of Schedule A (other than (i) Deposit Accounts, and (ii) Collateral in the possession or control of Agent, Servicer, Backup Servicer,
E-Vault Provider or Verification Agent). All of the Portfolio Documents are located only in the continental United States.

 

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		5.16	Deposit
Accounts

 

Section 5.16
of Schedule A, lists all of Borrower’s Deposit Accounts and Investment Property as of the Closing Date.

 

		5.17	Non-Subordination

 

The
Obligations are not subordinated in any way to any other obligations of Borrower or to the rights of any other Person.

 

		5.18	Receivables

 

(a)
With respect to each Receivable designated as an Eligible Receivable on any Borrowing Base Certificate or in any Monthly Collateral and
Servicing Report, Borrower warrants and represents to Agent, Managing Agents and Lenders as of the date of delivery of each such Borrowing
Base Certificate (or such other date as set forth in the definition of “Eligible Receivables”, as applicable) that: (i) such
Receivable constitutes an Eligible Receivable, and (ii) in determining which Receivables are “Eligible Receivables,”
Lender may rely upon all statements or representations made by Borrower.

 

(b)
To Borrower’s knowledge, all Receivables selected by Originator and offered to be sold to Borrower pursuant to the Purchase and
Sale Agreement from all other similar Receivables that are included in Originator’s pipeline of loans for acquisition from the
Originator were selected by Originator at random and with no intention to select receivables that would be more adverse to Borrower,
Agent, Managing Agents, Lenders or Originator or its investors than those similar receivables.

 

		5.19	Servicing

 

Borrower
has entered into the Servicing Agreement and Multi-Party Agreement with Servicer pursuant to which Borrower has engaged Servicer, as
servicer and as Borrower’s agent, to monitor, manage, enforce and collect the applicable Receivables and disburse any collections
in respect thereof as provided by the Servicing Agreement and Multi-Party Agreement.

 

		5.20	Legal
Investments; Use of Proceeds

 

Borrower
is not engaged in the business of extending credit for the purpose of purchasing or carrying any “margin stock” or “margin
security” (within the meaning of Regulations T, U or X issued by the Board of Governors of the Federal Reserve System), and no
proceeds of the Loan will be used to purchase or carry any margin stock or margin security or to extend credit to others for the purpose
of purchasing or carrying any margin stock or margin security.

 

		5.21	Broker’s
or Finder’s Commissions

 

No
broker’s, finder’s or placement fee or commission will be payable to any broker or agent engaged by Borrower or any of its
officers, directors or agents with respect to the Loan or the transactions contemplated by this Agreement except for fees payable to
Agent, Managing Agents and Lenders. Borrower agrees to indemnify Agent and hold each harmless from and against any claim, demand or liability
for broker’s, finder’s or placement fees or similar commissions, whether or not payable by Borrower, alleged to have been
incurred in connection with such transactions, other than any broker’s or finder’s fees payable to Persons engaged by Agent,
Managing Agents and/or Lenders without the knowledge of Borrower.

 

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		5.22	Anti-Terrorism;
OFAC

 

(a)
(i) Neither Borrower, Indemnitor, nor any Person controlling or controlled by Borrower or Indemnitor, nor any Person for whom Borrower
or Indemnitor is acting as agent or nominee in connection with this transaction (“Transaction Persons”) (1) is a Person
whose property or interest in property is blocked or subject to blocking pursuant to Section 1 of Executive Order 13224 of September
23, 2001 Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg.
49079 (2001)), (2) engages in any dealings or transactions prohibited by Section 2 of such executive order, or is otherwise associated
with any such Person in any manner violative of Section 2 of such executive order, or (3) is a Person on the list of Specially Designated
Nationals and Blocked Persons or is in violation of the limitations or prohibitions under any other OFAC regulation or executive order.

 

(b)
No part of the proceeds of the Loans will be used, directly or indirectly, for any payments to any governmental official or employee,
political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order
to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act
of 1977, as amended.

 

(c)
Borrower undertakes not to use the funds advanced under this Agreement for business activities relating to Cuba, Iran, North Korea, Sudan,
Syria and the region of Crimea and/or any other country or region that is the subject to economic and/or trade sanctions as notified
in writing by Agent to the Borrower from time to time (“Restricted Countries”). The Borrower also undertakes not to
use the funds advanced under this Agreement for business activities that are subject to sanctions, restrictions or embargoes administered
by the United Nations (“UN”), the European Union (“EU“), the State Secretariat for Economic Affairs
of Switzerland (”SECO“) or the Swiss Directorate of International Law (“DIL”), the United States
Treasury Department’s Office of Foreign Assets Control (“OFAC”), Her Majesty’s Treasury of the United
Kingdom (“HMT”), the Hong Kong Monetary Authority (“HKMA”), the Monetary Authority of Singapore
(“MAS”) and/or any other body notified in writing by Agent to Borrower from time to time. This includes, in particular,
business activities involving or providing benefits to persons, entities or other parties (“Restricted Parties”) that
are (i) governments of Restricted Countries, (ii) located, domiciled, resident or incorporated in a Restricted Country, (iii) subject
to any sanctions or named on any sanctions lists administered by one of the aforementioned bodies, or (iv) owned or controlled by persons,
entities or other parties referred to in (i) to (iii).

 

(d)
Borrower acknowledges by executing this Agreement that each Lender has notified Borrower and Indemnitor that, pursuant to the requirements
of the Patriot Act, such Lender is required to obtain, verify and record such information as may be necessary to identify Borrower, Indemnitor,
or any Person owning twenty percent (20.00%) or more of the direct or indirect Equity Interests of Borrower or Indemnitor (including
the name and address of such Person) in accordance with the Patriot Act. Borrower shall cooperate, and shall cause its Affiliates to
cooperate, with Agent in connection with its compliance with the Patriot Act including providing such evidence as Agent may reasonably
request to verify Borrower’s representations set forth in this Section 5.22. Additionally, Borrower shall provide Agent
with written notice of any transfer known to the Borrower of the direct or indirect Equity Interests in Borrower or Indemnitor after
the Closing Date resulting in any Person owning, directly or indirectly, more than twenty percent (20%) of the direct or indirect Equity
Interests in Borrower, in order for Agent to complete, to the extent required by Applicable Law, its standard “Know Your Customer”
diligence in relation to such Person(s). Borrower shall cooperate, and shall cause its Affiliates to cooperate, with Agent in connection
with its compliance with the Patriot Act including providing such evidence as Agent may reasonable request to verify Borrower’s
representations set forth in this Section 5.22.

 

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(e)
Borrower represents that it and each Indemnitor is in compliance, and will continue to be in compliance, with all applicable anti-money
laundering laws and regulations, including the Bank Secrecy Act, as amended by the PATRIOT Act, and the regulations thereunder, and FINRA
Conduct Rule 3011. Borrower represents that it and each Indemnitor has established an Anti-Money Laundering Program (“AML Program”)
that is designed to comply with applicable U.S. laws, regulations, and guidance, including rules of self-regulatory organizations, relating
to the prevention of money laundering, terrorist financing, and related financial crimes.

 

(f)
Borrower represents its AML Program shall comply with all applicable United States laws and regulations relating to anti-money laundering,
including the Uniting and Strengthening America by Providing Appropriate Tools to Intercept and Obstruct Terrorism Act of 2001 (the “USA
PATRIOT Act”) and the Bank Secrecy Act, as amended by the USA PATRIOT Act, where applicable.  Borrower represents its
AML program shall have in place written policies, procedures and controls designed to detect, prevent and report money laundering or
other suspicious activity as well as a written customer identification program.  The its AML Program shall require the identification
and verification of the identities of Borrower’s customers and, if required by applicable anti-money laundering laws and regulations,
the underlying beneficial owner(s).  In addition, Borrower or an Indemnitor, as soon as practicable, shall have a designated anti-money
laundering compliance officer, and provide anti-money laundering training to its staff.   Borrower will promptly inform Agent
in writing, to the extent not prohibited by Applicable Law, if Borrower becomes aware of any violations of the USA Patriot Act, any regulation
implementing the USA Patriot Act, or its anti-money laundering program.

 

(g)
Neither Indemnitor, Borrower nor any of their subsidiaries nor, to Borrower’s knowledge, any director or Responsible Officer of
Indemnitor, Borrower or any of their subsidiaries nor any agent acting on behalf of Indemnitor or Borrower or any of their subsidiaries
has (i) used any funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii)
made or taken an act in furtherance of an offer, promise or authorization of any direct or indirect unlawful payment or benefit to any
foreign or domestic government or regulatory official or employee, including of any government-owned or controlled entity or of a public
international organization, or any person acting in an official capacity for or on behalf of any of the foregoing, or any political party
or party official or candidate for political office; (iii) violated or is in violation of any provision of the Foreign Corrupt Practices
Act of 1977, as amended, or any applicable law or regulation implementing the OECD Convention on Combating Bribery of Foreign Public
Officials in International Business Transactions, or committed an offence under the Bribery Act 2010 of the United Kingdom, or any other
applicable anti-bribery or anticorruption laws; or (iv) made, offered, agreed, requested or taken an act in furtherance of any unlawful
bribe or other unlawful benefit, including, without limitation, any rebate, payoff, influence payment, kickback or other unlawful or
improper payment or benefit. Indemnitor, Borrower and their subsidiaries have instituted, maintained and enforced, and will continue
to maintain and enforce policies and procedures designed to promote and ensure compliance with all applicable anti-bribery and anti-corruption
laws.

 

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		5.23	Tax
Status.

 

(a)
Borrower is, and shall at all relevant times continue to be, a “disregarded entity” within the meaning of U.S. Treasury Regulation
§ 301.7701-3.

 

(b)
Borrower is not and will not at any relevant time become an association (or a publicly traded partnership) taxable as a corporation for
U.S. federal income tax purposes.

 

		5.24	Security
Interest

 

Borrower
has full right and power to grant to Agent, for the benefit of itself and the other Lenders, a perfected, first priority security interest
and Lien on the Collateral pursuant to this Agreement, subject to the following sentence. Upon the execution and delivery of this Agreement,
and upon the filing of the necessary financing statements and/or appropriate filings and/or delivery of the necessary certificates evidencing
an equity interest, control and/or possession, as applicable, without any further action, Agent will have a good, valid and first priority
(other than with respect to property or assets covered by Permitted Liens) perfected Lien and security interest in the Collateral, subject
to no transfer or other restrictions or Liens of any kind in favor of any other Person (other than Permitted Liens). As of the Closing
Date, no financing statement naming Borrower as “Debtor” and relating to any of the Collateral is on file in any public office
except those on behalf of Agent and those related to the Permitted Liens. As of the Closing Date, Borrower is not party to any agreement,
document or instrument that conflicts with this Section 5.24.

 

		5.25	Survival

 

Borrower
hereby makes the representations and warranties contained herein with the knowledge and intention that Agent, Managing Agents and Lenders
are relying and will rely thereon. All such representations and warranties will survive the execution and delivery of this Agreement,
the Closing and the making of any and all Advances.

 

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	VI.	AFFIRMATIVE
COVENANTS

 

Borrower
hereby covenants and agrees that, unless otherwise consented to by Agent in writing in its sole discretion, until the full performance
and satisfaction, and indefeasible payment in full in cash, of all the Obligations (other than
indemnity obligations of Borrower under the Loan Documents that are not then due and payable or for which any events or claims that would
give rise thereto are not then pending), the termination of the Revolving Loan Amount and termination of this Agreement:

 

		6.1	Financial
Statements, Reports and Other Information

 

(a)
Financial Reports. Borrower shall furnish to Agent each of the following:

 

(i)
as soon as available and in any event within thirty (30) calendar days after the end of each calendar month, the unaudited financial
statements of Borrower and Originator (on a consolidated or consolidating basis), consisting of a balance sheet and statements of income
as of the end of the immediately preceding calendar month; provided, further, with respect to Parent, as soon as available and in any
event within sixty (60) calendar days after the end of each of the first three fiscal quarters of each fiscal year, the unaudited consolidated
balance sheet and statements of income of the Parent as of the end of the immediately preceding fiscal quarter;

 

(ii)
as soon as available and in any event within one hundred twenty (120) calendar days after the end of each fiscal year commencing with
the fiscal year ending December 31, 2021, the audited financial statements of Borrower individually (which may be on a consolidating
basis with Parent) and Parent (on a consolidated or consolidating basis)(provided, further, that Borrower financials are only required
to be included on a consolidated and consolidating basis beginning with the year ending December 31, 2022), including the notes thereto,
consisting of a balance sheet at the end of such completed fiscal year and the related statements of income, cash flows and owners’
equity for such completed fiscal year, which financial statements shall be prepared and certified without any “going concern”
or like qualification or exception (other than solely as a result of the final maturity date of any Loans being scheduled to occur within
twelve (12) months from the date of such opinion or any prospective or actual default under any financial covenant) by a nationally recognized
independent certified public accounting firm and accompanied by related management letters, if available; and

 

(iii)
within thirty (30) calendar days after the end of each calendar month, Borrower shall also deliver a compliance certificate in the form
attached hereto as Exhibit F executed by a Responsible Officer stating that (1) such Person has reviewed the relevant terms of the Loan
Documents and the condition of Borrower, (2) no Default, Event of Default or Early Wind-Down Trigger Event has occurred or is continuing
or, if any of the foregoing has occurred or is continuing, specifying the nature and status and period of existence thereof and the steps
taken or proposed to be taken with respect thereto, and (3) that Borrower is in compliance with all of the financial covenants set forth
in Section 6.15 hereof, with supporting calculations.

 

(iv)
No later than each Payment Date, Borrower shall deliver Borrowing Base Certificate with calculations as of the last day of the immediately
preceding calendar month, which shall include calculations of each financial covenant set forth in Section 6.15 with supporting
calculations with respect to such financial covenant set forth in Section 6.15.

 

(v)
All such financial statements shall be prepared in accordance with GAAP consistently applied with prior periods (subject, as to interim
statements, to lack of footnotes and year-end adjustments and booking the Receivables at cost).

 

(vi)
Documents required to be delivered pursuant to Sections 6.1(a)(i) and 6.1(a)(ii) may be delivered electronically and if so delivered,
shall be deemed to have been delivered on the date (i) on which the Parent posts such documents, or provides a link thereto on the Parent’s
website on the Internet; or (ii) on which such documents are posted on the Parent’s behalf on IntraLinks/IntraAgency or another
relevant website, if any, to which each Lender and the Agent have access (whether a commercial, third-party website or whether sponsored
by the Agent); provided that: (i) upon written request by the Agent, the Borrower shall deliver paper copies of such documents
to the Agent for further distribution to each Lender until a written request to cease delivering paper copies is given by the Agent and
(ii) the Borrower shall notify (which may be by facsimile or electronic mail) the Agent of the posting of any such documents and provide
to the Agent by electronic mail electronic versions (i.e., soft copies) of such documents. Each Lender shall be solely responsible
for timely accessing posted documents or requesting delivery of paper copies of such documents from the Agent and maintaining its copies
of such documents.

 

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(b)
Monthly Collateral and Servicing Report. As soon as available, and in any event not later than fifteen (15) calendar days after
the end of each calendar month beginning March 15, 2022, Borrower shall furnish to Agent and Backup Servicer, or shall cause Servicer
to furnish to Agent and Backup Servicer, a report, in computer file form reasonably accessible and usable by Agent and Backup Servicer,
with respect to the Receivables pledged as Collateral, which report shall include, as of the end of the immediately preceding calendar
month, (i) the information contained in the form of Monthly Collateral and Servicing Report attached hereto as Exhibit C, (ii) a summary
of any third party fees and expenses to be paid from the Available Amounts during the current calendar month and (iii) any other information
with respect to the Collateral as Agent may reasonably request, all prepared by Borrower or Servicer, as applicable, and certified as
to being true, correct and complete in all material respects by Borrower.

 

(c)
Additional Reports. No later than seven (7) Business Day after receipt thereof by Borrower, Borrower shall deliver to Agent any
correspondence, reports, certificate or other document received by Borrower from Servicer, Backup Servicer or any other Person which
could reasonably be expected to have a Material Adverse Effect in Borrower’s reasonable discretion. In addition to the forgoing,
Borrower shall provide such additional information as Agent may reasonably request in relation to the financial condition and/or operations
of Borrower or Indemnitor or the Collateral generally within fifteen (15) days of such request by Agent. Additionally, to the extent
Parent provides financial statements described in Section 6.1(a)(i) and (ii) above on a more frequent basis to OakTree under its
credit facility with OakTree, Parent shall also provide copies of such financial statements to Agent under this Agreement on the same
frequent basis.

 

(d)
Notices. Borrower shall promptly, and in any event within five (5) Business Days after the occurrence thereof, notify Agent in
writing of (i) any notices Borrower or Indemnitor has received of any material claims, offsets or disputes asserted in writing by
any Account Debtor with respect to any material portion of the Receivables, (ii) any pending legal action, litigation, suit, investigation,
arbitration, dispute resolution proceeding or administrative or regulatory proceeding brought, initiated or threatened in writing by
or against Borrower or, solely as it may relate to the Collateral or the obligations of the Indemnitor under the Loan Documents, Indemnitor
or otherwise affecting or involving or relating to Borrower or any of the Collateral, (iii) any Default or Event of Default, which
notice shall specify the nature and status thereof, the period of existence thereof and what action is proposed to be taken with respect
thereto, (iv) any other development, event, fact, circumstance or condition that is reasonably expected to have or result in a Material
Adverse Effect, in each case describing the nature and status thereof and the action proposed to be taken with respect thereto, (v) any
matter(s) in existence that Borrower becomes aware of affecting in any material respect the enforceability or collectability of any significant
portion of the Collateral, (vi) any Regulatory Event, (vii) any receipt, by Borrower or Indemnitor of any notice or request from
any Governmental Authority regarding any liability of Borrower, Parent, Servicer or Originator asserting any claim or liability against,
or assertion of noncompliance with any Applicable Laws by Borrower or Indemnitor, or otherwise notifying Borrower or Indemnitor of the
commencement of any investigation by any Governmental Authority of Borrower or Indemnitor, including any civil investigative demand;
provided however, with respect to this clause (vii) as it relates to Parent, such notice shall not be required unless it relates
to or impacts (a) the Receivables or (b) the business operations of Parent material to the transactions contemplated under this Agreement
or to the extent such event could reasonably be expected to result in a Material Adverse Effect (viii) the filing, recording or
assessment of any federal, state, local or foreign tax lien against the Collateral or Borrower, (ix) any action taken or threatened
in writing to be taken by any Governmental Authority (or any written notice of any of the foregoing) with respect to Borrower, Indemnitor
or any Collateral, that, solely with respect to Parent, could reasonably be expected to have or result in a Material Adverse Effect,
(x) any change in the corporate name of Borrower or Indemnitor, and/or (xi) the loss, termination or expiration of any contract
to which Borrower or Indemnitor is a party or by which its properties or assets are subject or bound that is reasonably expected to have
or result in a Material Adverse Effect.

 

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(e)
Account Debtor Bankruptcies. Borrower shall use commercially reasonable efforts, and shall cause Servicer to use commercially
reasonable efforts, to ensure that Borrower and Servicer are promptly notified upon any Account Debtor becoming the subject of a proceeding
under any Debtor Relief Law.

 

(f)
Quarterly Review Meeting. If requested by Agent, Borrower and Indemnitor shall be available in person or via teleconference as
and when requested by Agent for a quarterly review meeting regarding the status of Borrower, the Collateral and performance of the same.

 

(g)
Approved Make. From time to time Borrower may deliver to Agent in writing an amended Schedule F for Agent’s approval in
its sole discretion. If Agent approves the amended Schedule F within five (5) Business Days after receipt thereof, then Schedule F hereto
shall be deemed replaced without any further action or consent of any other party to this Agreement. If Borrower does not receive Agent’s
approval within five (5) Business Days, then such amended Schedule F shall be deemed rejected by Agent.

 

(h)
Deposit Accounts. Borrower hereby agrees that, with respect to any deposit account or securities account of Borrower (including,
without limitation, each Deposit Account, but excluding any account having the sole purpose of holding funds owned by, or being transmitted
to or from, any other purchasers, owners or investors having an ownership or participation interest in any other Receivables acquired
from Originator), Borrower shall provide (or shall cause the applicable depository bank or securities intermediary to provide) informational
access to the Agent to such deposit account or securities account, including access to daily balance information and transaction summaries,
which covenant may be satisfied, to the extent available, by either (a) providing Agent with read-only login credentials to access such
deposit accounts or securities accounts or (b) causing the applicable depository bank or securities intermediary to provide automated
notices of information with respect to such deposit accounts or securities accounts on a frequency acceptable to Agent, in its sole discretion.

 

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		6.2	Payment
of Obligations

 

Borrower
shall make full and timely indefeasible payment in cash of the principal of and interest on the Loan and all other Obligations when due
and payable.

 

		6.3	Conduct
of Business and Maintenance of Existence and Assets

 

Borrower
shall (a) collect (or shall use commercially reasonable efforts to require Servicer to collect) all Receivables in the ordinary
course of business, (b) maintain and keep in full force and effect its existence and all material Permits and qualifications to do business
and remain in good standing in its jurisdiction of formation and each other jurisdiction in which the ownership or lease of property
or the nature of its business makes such Permits or qualification necessary and (c) remain in good standing and maintain operations in
all jurisdictions in which currently located.

 

		6.4	Compliance
with Legal and Other Obligations

 

Borrower
and Originator shall (a) comply in all material respects with all laws, statutes, rules, regulations, ordinances and tariffs of
all Governmental Authorities applicable to it or its business, assets or operations, (b) pay all Taxes, assessments, fees, governmental
charges, claims for labor, supplies, rent and all other obligations or liabilities of any kind for which it is liable when due and payable,
except liabilities being contested in good faith and against which adequate reserves have been established in accordance with GAAP consistently
applied, (c) perform in accordance with its terms each material contract, agreement or other arrangement to which it is a party
or by which it or any of the Collateral is bound, and (d) properly file all reports required to be filed by Borrower with any Governmental
Authority.

 

		6.5	Insurance

 

Borrower
shall keep all of its insurable properties and assets adequately insured in all material respects against losses, damages and hazards
as are customarily insured against by businesses of similar size engaging in similar activities or lines of business or owning similar
assets or properties and at least the minimum amount required by this Agreement, Applicable Law and any agreement to which any such Person
is a party or pursuant to which such Person provides any services; all such insurance policies and coverage levels shall (a) be satisfactory
in form and substance to Agent in its Permitted Discretion, (b) name Agent, for the benefit of itself and the other Secured Parties,
as a loss payee or additional insured thereunder, as applicable; provided, that Borrower shall have sixty (60) days to provide such endorsements
and (c) expressly provide that such insurance policies and coverage levels cannot be altered, amended or modified in any manner which
is adverse to Agent and/or and the other Secured Parties, or canceled or terminated without thirty (30) calendar days prior written notice
to Agent, and that they inure to the benefit of Agent and the other Secured Parties, notwithstanding any action or omission or negligence
of or by Borrower, or any insured thereunder.

 

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		6.6	True
Books

 

Borrower
shall (a) keep true, complete and accurate (in accordance with GAAP, except for the omission of footnotes and year-end adjustments
in interim financial statements) books of record and account in accordance with commercially reasonable business practices in which true
and correct entries are made of all of its dealings and transactions in all material respects; (b) set up and maintain on its books
such reserves as may be required by GAAP with respect to doubtful accounts and all Taxes, assessments, charges, levies and claims and
with respect to its business and (c) maintain a revenue recognition method in accordance with GAAP.

 

		6.7	Inspection;
Periodic Audits

 

Borrower
shall permit the representatives of Agent, or in Agent’s sole discretion, Managing Agents and each Lender (including any third-party
auditors or consultants), at the expense of Borrower, from time to time during normal business hours upon reasonable advance notice (provided
that prior to the occurrence and continuance of an Event of Default, Borrower shall not be responsible for the costs associated with
more than two (2) inspections or audits in the aggregate described below during any calendar year) to (a) visit and inspect Borrower’s
and Indemnitor’s offices or properties or any other place where Collateral is located to inspect the Collateral and/or to examine
and/or audit all of Borrower’s and Indemnitor’s books of account, records, reports and other papers, (b) make copies
and extracts therefrom, and (c) discuss Borrower’s and Indemnitor’s business operations, prospects, properties, assets, liabilities
and financial condition and/or Receivables with its officers and independent public accountants (and by this provision such officers
and accountants are authorized to discuss the foregoing); provided, that so long as an Event of Default has occurred and is continuing,
no such notice shall be required with respect to inspections of Borrower or Indemnitor. Notwithstanding the foregoing, absent an Event
of Default or unless there has been a disclosure to Agent pursuant to Section 6.1(d)(x) with respect to Parent, Agent shall limit the
above referenced audits and inspections to Borrower, Originator and the Collateral absent exigent circumstances. Borrower shall require
Servicer to cooperate with Agent and its representatives in connection with any inspections or audits requested by Agent pursuant to
and in accordance with the Multi-Party Agreement. In addition to the forgoing, Agent shall have the right, at the expense of Borrower,
to conduct a legal review regarding the compliance of Borrower and Originator, as well as the forms of Portfolio Documents, with all
Applicable Laws, and Borrower shall, and shall require Servicer and Originator to, cooperate with Agent and its internal and/or outside
legal counsel in such legal review; provided that, prior to the occurrence and continuance of a Regulatory Event or Event of Default,
Borrower shall not be responsible for any costs associated with such legal review in excess of $25,000 during any calendar year.

 

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		6.8	Further
Assurances; Post Closing

 

At
Borrower’s cost and expense, Borrower shall (i) take the actions set forth on Schedule 6.8 within the time periods set forth
therein or such longer period as the Agent may agree in its sole discretion and (ii) (a) within five (5) Business Days (or such
longer period in the case of actions involving third parties as determined by Agent in its sole discretion) after Agent’s reasonable
demand, take such further actions, obtain such consents and approvals and shall duly execute and deliver such further agreements, assignments,
instructions or documents as Agent may reasonably request in its Permitted Discretion in order to effectuate the purposes, terms and
conditions of the Loan Documents and the consummation of the transactions contemplated thereby, whether before, at or after the performance
and/or consummation of the transactions contemplated hereby or the occurrence and during the continuation of a Default or Event of Default,
(b) without limiting and notwithstanding any other provision of any Loan Document, execute and deliver, or cause to be executed
and delivered, such agreements and documents, and take or cause to be taken such actions, and otherwise perform, observe and comply with
such obligations, as are set forth in any agreement regarding post-closing matters executed by Agent and Borrower, and (c) upon the proper
exercise by Agent or any of its Affiliates of any power, right, privilege or remedy pursuant to any Loan Document or under Applicable
Law or at equity which requires any consent, approval, registration, qualification or authorization of a Person (including any Governmental
Authority), execute and deliver, or cause the execution and delivery of, all applications, certificates, instruments and other documents
that may be so required for such consent, approval, registration, qualification or authorization.

 

		6.9	Other
Liens

 

If
Liens other than Permitted Liens exist on the Collateral, Borrower shall immediately take all actions, and execute and deliver all documents
and instruments necessary to promptly release and terminate such Liens. Immediately upon discovery of any Lien other than a Permitted
Lien, Borrower shall notify Agent.

 

		6.10	Use
of Proceeds

 

Borrower
shall use the proceeds from each Revolving Advance only for the purposes set forth in the recitals to this Agreement.

 

		6.11	Collateral
Documents; Security Interest in Collateral

 

On
demand of Agent, Borrower shall make available to Agent copies of any and all documents, instruments, materials and other items that
relate to, secure, evidence, give rise to or generate or otherwise involve Collateral, including the Receivables, in each case to the
extent Borrower has access to such documents, instruments, materials and other items. Borrower shall (a) execute, obtain, deliver, file,
register and/or record any and all financing statements, continuation statements, stock powers, instruments and other documents, or cause
the execution, filing, registration, recording or delivery of any and all of the foregoing, that are necessary or required under law
or otherwise requested by Agent, in its sole discretion, to be executed, filed, registered, obtained, delivered or recorded to create,
maintain, perfect, preserve, validate or otherwise protect Borrower’s interest in the Collateral and Agent’s perfected first
priority (other than with respect to property or assets covered by Permitted Liens) Lien on the Collateral (and Borrower irrevocably
grants Agent the right, at Agent’s option, to file any or all of the foregoing), (b) maintain, or cause to be maintained,
at all times, Agent’s perfected first priority (other than with respect to property or assets covered by Permitted Liens) Lien
on the Collateral, and (c) defend the Collateral and Agent’s first priority (other than with respect to property or assets covered
by Permitted Liens) and perfected Lien thereon against all claims and demands of all Persons at any time claiming the same or any interest
therein adverse to Agent (other than Permitted Liens), and pay all costs and expenses (including reasonable attorneys’ fees and
expenses) in connection with such defense, which may, at Agent’s discretion, be added to the Obligations, in any event as necessary
pursuant to this Agreement.

 

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		6.12	Servicing
Agreement; Backup Servicer

 

(a)
Upon Agent’s request, Borrower shall promptly provide (or use commercially reasonable efforts to require the Servicer to promptly
provide) Agent with true and complete copies of all notices, reports, statements and other documents sent or received by Servicer under
the Servicing Agreement. Borrower shall use commercially reasonable efforts to require Servicer to service all Receivables in accordance
with the terms of the Servicing Agreement and Multi-Party Agreement. Borrower shall comply in all material respects with all provisions,
terms and conditions set forth in the Servicing Agreement and Multi-Party Agreement and Borrower shall not modify, amend, or terminate
the Servicing Agreement without Agent’s prior written consent. Borrower shall promptly request from the Servicer any information
or document requested by Agent, which such information or document Borrower has the right to request from Servicer pursuant to the Servicing
Agreement, and Borrower shall promptly deliver to Agent such information or document upon receipt from Servicer.

 

(b)
Borrower shall be required to provide the Monthly Collateral and Servicing Report in such form and in a manner reasonably acceptable
to Agent as described in Section 6.1(b) hereof. If applicable, Borrower agrees not to, and will use commercially reasonable efforts
to cause Servicer not to, interfere with Backup Servicer’s performance of its duties under any Backup Servicing Agreement or to
take any action that would be inconsistent in any way with the terms of such Backup Servicing Agreement. Borrower covenants and agrees
to, and will use commercially reasonable efforts to cause Servicer to, provide any and all information and data reasonably requested
by Agent to be provided promptly to Backup Servicer in the manner and form reasonably requested by Agent. Upon the occurrence and continuance
of any Event of Default, Agent shall have the right to immediately substitute Agent, Backup Servicer or another third party servicer
acceptable to Agent for Servicer in all of Servicer’s roles and functions as contemplated by the Loan Documents, Portfolio Documents
and the Servicing Agreement and upon and after such substitution, Agent or the Backup Servicer as a substituted Servicer, or such other
third party servicer acceptable to Agent, shall be entitled to receive the applicable Servicing Fee.

 

		6.13	Special
Purpose Entity

 

Borrower
has not, and shall not:

 

(a)
engage in any business or activity other than the ownership, operation and maintenance of the Receivables and activities incidental thereto;

 

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(b)
acquire or own any material assets other than the Receivables (or such similar loan assets as Agent may reasonably approve), and such
incidental personal property as may be necessary for the operation of the Receivables;

 

(c)
merge into or consolidate with any Person or dissolve, divide, terminate or liquidate in whole or in part, transfer or otherwise dispose
of all or substantially all of its assets (except as permitted hereunder) or change its legal structure, without in each case Agent’s
consent;

 

(d)
own any Subsidiary or make any equity investment in any Person without the consent of Agent;

 

(e)
commingle its assets with the assets of any of its members, general partners, shareholders, Affiliates, principals or of any other Person;

 

(f)
incur any debt for borrowed money, secured or unsecured, direct or contingent (including guaranteeing any obligation), other than the
Obligations;

 

(g)
fail to maintain its records, books of accounts and bank accounts separate and apart from those of the members, partners, shareholders,
principals and Affiliates of Borrower or any other Person;

 

(h)
other than any Loan Documents or as otherwise required by the Loan Documents, enter into any contract or agreement with any member, general
partner, shareholder, principal or Affiliate of Borrower or any member, general partner, shareholder, principal or Affiliate of any of
the foregoing, except upon terms and conditions that are intrinsically fair and substantially similar to those that would be available
on an arms-length basis with third parties other than any member, general partner, shareholder, principal or Affiliate of Borrower, or
any member, general partner, shareholder or Affiliate of any of the foregoing;

 

(i)
seek the dissolution or winding up in whole, or in part, of Borrower;

 

(j)
fail to correct any known misunderstandings regarding the separate identity of Borrower, as applicable;

 

(k)
hold itself out to be responsible for the debts of another Person;

 

(l)
other than owning the Receivables purchased from Originator pursuant to the Purchase and Sale Agreement, make any loans or advances to
any third party, including any member, general partner, shareholder, principal or Affiliate of Borrower, Originator or Servicer, or any
member, general partner, shareholder, principal or Affiliate of any of the foregoing;

 

(m)
fail either to hold itself out to the public as a legal entity separate and distinct from any other Person or to conduct its business
solely in its own name in order not (i) to mislead others as to the identity with which such other party is transacting business,
or (ii) to suggest that Borrower is responsible for the debts of any third party (including any member, general partner, shareholder,
principal or Affiliate of Borrower, Servicer or Originator, or any member, general partner, shareholder, principal or Affiliate of any
of the foregoing);

 

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(n)
fail to maintain adequate capital for the normal obligations reasonably foreseeable in a business of its size and character and in light
of its contemplated business operations;

 

(o)
except for invoicing for collections and servicing of Receivables, share any common logo with or hold itself out as or be considered
as a department or division of (i) any general partner, shareholder, principal, member or Affiliate of Borrower, (ii) any Affiliate
of a general partner, shareholder, principal or member of Borrower, or (iii) any other Person;

 

(p)
without the unanimous written consent of its directors, managers or managing members, or general or limited partners, as the case may
be, and the consent of any independent directors or independent managers required herein, file or consent to the filing of any petition,
either voluntary or involuntary, to take advantage of any applicable insolvency, bankruptcy, liquidation or reorganization statute, or
make an assignment for the benefit of creditors; or

 

(q)
fail at any time to have at least one (1) of its directors or managers being independent directors or managers that is not and has not
been for at least five (5) years a director, manager, officer, employee, trade creditor, supplier or shareholder (or spouse, parent,
sibling or child of the foregoing) of (or a Person who directly or indirectly controls) (i) Borrower, (ii) any general or limited
partner, shareholder, principal, member or Affiliate of Borrower, or (iii) any Affiliate of any general or limited partner, shareholder,
principal or member of Borrower; provided, however, no Person shall be excluded as an independent director or manager solely because
such Person (or spouse, parent, sibling or child of such Person) directly or indirectly owns a de minimus amount of the publicly
traded shares of Parent.

 

		6.14	Collections.

 

Borrower
agrees and covenants that it shall:

 

(a)
at all times comply, and to require Servicer to comply, with the terms of Section 2.3; and

 

(b)
prevent the deposit into any Deposit Account of any funds other than collections from Receivables, capital contributions to the Borrower
from the Originator or other funds to be or permitted to be deposited into such Deposit Accounts under this Agreement or the other Loan
Documents (provided that, this covenant shall not be breached to the extent that funds are inadvertently deposited into any Deposit
Account and upon discovery are promptly segregated and removed from such Deposit Account).

 

		6.15	Financial
Covenants and Collateral Performance

 

(a)
Originator Tangible Net Worth. (i) At all times prior to the date that the aggregate outstanding Advances under this Agreement
is less than $25,000,000, Originator shall maintain a Tangible Net Worth (excluding funds in the Blocked Account) of at least $5,000,0000
and (ii) at all times after the date that the aggregate outstanding Advances under this Agreement is greater than $25,000,000, Originator
shall maintain a Tangible Net Worth (excluding funds in the Blocked Account) of at least $10,000,0000.

 

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(b)
Borrower Tangible Net Worth. Borrower shall maintain a Tangible Net Worth of at least $2,500,000; measured as of the last day
of each calendar quarter.

 

(c)
Leverage Ratio. The Leverage Ratio of Originator shall not exceed 6.00 to 1.00 measured as of the last day of each calendar quarter
of Originator.

 

(d)
Liquidity. (i) At all times prior to the date that the aggregate outstanding Advances under this Agreement exceeds $25,000,000,
Originator shall maintain Liquidity (excluding funds in the Blocked Account) of at least $2,000,000 and (ii) at all times after the date
that the aggregate outstanding Advances under this Agreement exceeds $25,000,000, Originator shall maintain Liquidity of at least $3,000,000
(excluding funds in the Blocked Account).

 

(e)
Borrower Additional Cash. At all times, Borrower shall maintain at least $5,000,000 in unrestricted cash in the Blocked Account.

 

(f)
Minimum Three-Month Average Excess Spread. As of the end of any calendar month, the Three-Month Average Excess Spread shall not
be less than zero percent (0.00%).

 

(g)
Maximum Three-Month Average Defaulted Ratio. As of the end of each calendar month, the Three-Month Average Defaulted Ratio shall
not be greater than four percent (4.00%).

 

(h)
Maximum Three-Month Average Delinquency Ratio. As of the end of each calendar month, the Three-Month Average Delinquency Ratio
shall not be greater than six percent (6.00%).

 

(i)
Minimum Vintage Quarter Charged-Off Percentage. As of the end of any calendar month, the actual Vintage Quarter Charged-Off Percentage,
with respect to any Vintage Quarter Pool with respect to any Vintage Quarter, shall not be greater than the percentage set forth below
corresponding to the applicable Month From Vintage Quarter Pool Origination Date:

 

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    Month From 

Vintage
    Quarter Pool

 Origination Date
	Vintage
    Quarter 

Charged-Off Percentage
	1	3.00%
	2	4.00%
	3	5.00%
	4	6.00%
	5	7.00%
	6	8.00%
	7	9.00%
	8	10.00%
	9	11.00%
	10	11.50%
	11	12.00%
	12	12.50%
	13	13.00%
	14	13.50%
	15 and each month thereafter	14.00%

 

		6.16	Changes
to Underwriting Guidelines

 

Borrower
shall promptly furnish to Agent any changes or proposed changes it receives from Originator to any Underwriting Guidelines, and, unless
and until any such changes are agreed to by Agent in its sole discretion (which shall not be unreasonably withheld or delayed), any Receivables
originated pursuant to such amended Underwriting Guidelines shall constitute Eligible Receivables solely upon Agent’s approval
in its sole discretion.

 

		6.17	Right
of First Refusal

 

(a)
Borrower hereby agrees that, if at any time prior to the ROFR Termination Date (as defined below), Borrower, Parent or their Affiliates
shall have obtained a bona fide third-party offer (the “Third-Party Securitization Offer”) to enter into a securitization
transaction in respect of assets meeting the criteria necessary to be Receivables under this Agreement that Borrower, Parent or their
Affiliates wish to pursue, Borrower or such Affiliates shall, in writing within five (5) Business Days of receipt of such offer, inform
Agent (for the benefit of the Lenders and Agent will notify the Lenders) (such writing to Agent is referred to herein as the “Securitization
First Refusal Offer”) of such Third-Party Securitization Offer and the terms and conditions of such Third-Party Securitization
Offer (and shall attach a copy of such Third-Party Securitization Offer to such Securitization First Refusal Offer) and, in such Securitization
First Refusal Offer, shall offer to Lenders a right of first refusal in respect of such securitization transaction. Lender’s right
of first refusal shall grant Lenders the right, within fifteen (15) Business Days, (or, if good faith negotiations are ongoing, twenty
(20) Business Days) after the receipt of such Securitization First Refusal Offer, to deliver a writing to Borrower, Parent or such Affiliates
(the “Securitization Acceptance”) stating that Lender(s) agree to enter into such securitization transaction on economic
and material non-economic terms which shall be the same or more favorable to the Borrower, Parent, Originator or their Affiliates than
the corresponding terms under such Third-Party Securitization Offer (as such material terms were communicated to Agent by Borrower or
included (or excluded) in the Third-Party Securitization Offer, including any specific material conditions (if any) in respect of due
diligence, documentation or conditions precedent set forth in such Third-Party Securitization Offer). Upon receipt of the Securitization
Acceptance by Borrower or such Affiliates, one or more Lenders or their respective Affiliates, on the one hand, and Borrower or such
of their Affiliates, on the other hand, shall, in good faith enter into an agreement for such transaction on the terms set forth in such
Securitization Acceptance (subject to the satisfaction of appropriate conditions in respect of due diligence, documentation and other
customary and commercial conditions precedent). If such Lenders have declined to exercise its right under such Securitization First Refusal
Offer, or shall have failed to respond to such Securitization First Refusal Offer or shall have offered a counterproposal to Borrower
in respect of such Securitization First Refusal Offer, Lenders shall in each such case be deemed to have declined to exercise its right
under such Securitization First Refusal Offer and the Borrower and its Affiliates shall be free to close such Third-Party Securitization
Offer within one hundred fifty (150) days of the date of such Securitization First Refusal Offer on terms substantially similar to the
terms thereof set forth in such Third-Party Securitization Offer so long as such transaction does not otherwise violate this Agreement.
If Borrower or such Affiliates shall have failed to so close such transaction within said one hundred fifty (150) days or if the material
terms of such transaction are materially modified from the description of such terms in the Third-Party Securitization Offer, then a
new right of first refusal for the benefit of Lenders with respect to such transaction shall immediately arise subject to the terms hereof.
As used herein, “ROFR Termination Date” means the earlier of the date that is six (6) months prior to the Maturity
Date and the first date after the Closing Date upon which Lenders shall have received one or more Securitization First Refusal Offers
which, in the aggregate, offered Lenders the opportunity to enter into securitization transactions in respect of assets meeting the criteria
necessary to be Receivables under this Agreement with an aggregate outstanding principal balance of $200,000,000.

 

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(b)
Borrower hereby agrees that, if Borrower, Parent or their Affiliates shall have obtained prior to the date that is six (6) months prior
to the Maturity Date a bona fide third-party offer (the “Third-Party Finance Offer”) for any senior debt financing,
hypothecation financing, whole loan purchase financing or similar financing in an aggregate amount up to $200,000,000 proposed to be
secured by Receivables, including the financing or refinancing of any such Receivables originated, acquired or otherwise held by Borrower,
Parent or their Affiliates, Borrower, Parent or their Affiliates wishes to pursue, Borrower or such Affiliates shall, in writing within
five (5) Business Days of receipt of such offer, promptly inform Agent (such writing to Agent is referred to herein as the “Finance
First Refusal Offer”) of such Third-Party Finance Offer and the terms and conditions of such Third-Party Finance Offer (and
shall attach a copy of such Third-Party Finance Offer to such Finance First Refusal Offer) and, in such Finance First Refusal Offer,
shall offer to Agent a right of first refusal in respect of such transaction. Agent’s right of first refusal shall grant Agent
the right to, fifteen (15) Business Days, (or, if good faith negotiations are ongoing, twenty (20) Business Days) after the receipt of
such Finance First Refusal Offer, to deliver a writing to Borrower, Parent or such Affiliates (the “Finance Acceptance”)
stating that Agent agrees to extend such financing on economic and material non-economic terms which shall be the same or more favorable
to the Borrower, Parent, Originator or their Affiliates than the corresponding terms under such Third-Party Finance Offer as such material
terms were communicated to Agent by Borrower or included (or excluded) in the Third-Party Finance Offer, including any specific material
conditions (if any) in respect of due diligence, documentation or conditions precedent set forth in such Third-Party Finance Offer).
Upon receipt of the Finance Acceptance by Borrower or such Affiliates, Agent and one or more of the Lenders or their respective Affiliates,
on the one hand, and Borrower or such of their Affiliates, on the other hand, shall, in good faith enter into an agreement for such transaction
on the terms set forth in such Finance Acceptance (subject to the satisfaction of appropriate conditions in respect of due diligence,
documentation and other customary and commercial conditions precedent), it being understood and agreed that all Lenders and their Affiliates
shall have the option, but shall have no obligation, to participate in such Finance First Refusal Offer based on their respective then
pro rata shares of the aggregate outstanding principal balance of the Loans held by such Lenders at such time. If Agent shall have declined
to exercise its right under such Finance First Refusal Offer, or shall have failed to respond to such Finance First Refusal Offer or
shall have offered a counterproposal to Borrower in respect of such Finance First Refusal Offer, Agent and Lenders shall in each such
case be deemed to have declined to exercise its right under such Finance First Refusal Offer and Borrower and its Affiliates shall be
free to close such Third-Party Finance Offer within one hundred fifty (150) days of the date of such Finance First Refusal Offer on terms
substantially similar to the terms thereof set forth in such Third-Party Finance Offer (as communicated to Agent) so long as such transaction
does not violate this Agreement. If Borrower or such Affiliates shall have failed to so close such transaction within said one hundred
fifty (150) days or if the material terms of such transaction are modified from the description of such terms in the Third-Party Finance
Offer, then a new right of first refusal for the benefit of Agent with respect to such transaction shall immediately arise subject to
the terms hereof.

 

(c)
Borrower hereby agrees that, if Borrower, Parent or their Affiliates shall have obtained a bona fide third-party offer (the “Third-Party
Whole Loan Sale Offer”) for any sale that would constitute a Permitted Whole Loan Sale in an aggregate amount up to $200,000,000
of Receivables that Borrower, Parent or their Affiliates wishes to consummate prior to the Maturity Date, Borrower or such Affiliates
shall, in writing within five (5) Business Days of receipt of such offer, promptly inform Agent (such writing to Agent is referred to
herein as the “Whole Loan Sale First Refusal Offer”) of such Third-Party Whole Loan Sale Offer and the terms and conditions
of such Third-Party Whole Loan Sale Offer (and shall attach a copy of such Third-Party Whole Loan Sale Offer to such Whole Loan Sale
First Refusal Offer) and, in such Whole Loan Sale First Refusal Offer, shall offer to Agent a right of first refusal in respect of such
transaction. Agent’s right of first refusal shall grant Agent the right to, fifteen (15) Business Days, (or, if good faith negotiations
are ongoing, twenty (20) Business Days) after the receipt of such Whole Loan Sale First Refusal Offer, to deliver a writing to Borrower,
Parent or such Affiliates (the “Whole Loan Sale Acceptance”) stating that Agent agrees to extend such financing on
economic and other material non-economic terms which shall be the same or more favorable to the Borrower, Parent, Originator or their
Affiliates than the corresponding terms under such Third-Party Whole Loan Sale Offer (as such material terms were communicated to Agent
by Borrower or included (or excluded) in the Third-Party Whole Loan Sale Offer, including any specific material conditions (if any) in
respect of due diligence, documentation or conditions precedent set forth in such Third-Party Whole Loan Sale Offer). Upon receipt of
the Whole Loan Sale Acceptance by Borrower or such Affiliates, Agent and one or more of the Lenders or their respective Affiliates, on
the one hand, and Borrower or such of their Affiliates, on the other hand, shall, in good faith enter into an agreement for such transaction
on the terms set forth in such Whole Loan Sale Acceptance (subject to the satisfaction of appropriate conditions in respect of due diligence,
documentation and other customary and commercial conditions precedent), it being understood and agreed that all Lenders and their Affiliates
shall have the option, but shall have no obligation, to participate in such Whole Loan Sale First Refusal Offer based on their respective
then pro rata shares of the aggregate outstanding principal balance of the Loans held by such Lenders at such time. If Agent shall have
declined to exercise its right under such Whole Loan Sale First Refusal Offer, or shall have failed to respond to such Whole Loan Sale
First Refusal Offer or shall have offered a counterproposal to Borrower in respect of such Whole Loan Sale First Refusal Offer, Agent
and all Lenders shall in each such case be deemed to have declined to exercise its right under such Whole Loan Sale First Refusal Offer
and Borrower and its Affiliates shall be free to close such Third-Party Whole Loan Sale Offer within one hundred fifty (150) days of
the date of such Whole Loan Sale First Refusal Offer on terms substantially similar to the terms thereof set forth in such Third-Party
Whole Loan Sale Offer (as communicated to Agent) so long as such transaction does not otherwise conflict with the terms of (and obligations
of Borrower under) this Agreement. If Borrower or such Affiliates shall have failed to so close such transaction within said one hundred
fifty (150) days or if the material terms of such transaction are modified from the description of such terms in the Third-Party Whole
Loan Sale Offer, then a new right of first refusal for the benefit of Agent with respect to such transaction shall immediately arise
subject to the terms hereof.

 

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	VII.	NEGATIVE
COVENANTS

 

Borrower
covenants and agrees that, unless otherwise consented to by Agent in writing in its sole discretion, until full performance and satisfaction,
and indefeasible payment in full in cash, of all the Obligations (other than indemnity obligations
of Borrower under the Loan Documents that are not then due and payable or for which any events or claims that would give rise thereto
are not then pending) and termination of this Agreement.

 

		7.1	Indebtedness

 

Borrower
shall not create, incur, assume or suffer to exist any Indebtedness, except Indebtedness under the Loan Documents.

 

		7.2	Liens

 

Borrower
shall not create, incur, assume, or suffer to exist, any Lien upon, in or against, or pledge of, any of the Collateral, whether now owned
or hereafter acquired, except the following (collectively, “Permitted Liens”): (a) Liens under the Loan Documents
or otherwise arising in favor of Agent, for the benefit of itself and the other Secured Parties, (b) any right of set-off granted in
favor of any financial institution in respect of Deposit Accounts opened and maintained in the ordinary course of business or pursuant
to the requirements of this Agreement; provided, that with respect to any such Deposit Account, Agent has a perfected Lien thereon
and control thereof, in form, scope and substance satisfactory to Agent in its sole discretion and (c) Liens imposed by law for Taxes
that are not yet due and payable or are being contested in good faith.

 

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		7.3	Investments;
Investment Property; New Facilities or Collateral; Subsidiaries

 

Other
than any securities issued pursuant to a securitization, Borrower shall not, directly or indirectly, (a) divide or merge with, purchase,
own, hold, invest in or otherwise acquire any Equity Interests of, or any other interest in, all or substantially all of the assets of,
any Person or any joint venture, (b) purchase, own, hold, invest in or otherwise acquire any Investment Property (except (i) Investment
Property set forth in Section 5.16 of Schedule A as of the Closing Date, and (ii) Deposit Accounts with financial institutions
and investments in the ordinary course of business or as required by this Agreement; provided, that with respect to any such Deposit
Accounts, Agent has a perfected Lien thereon and control thereof, in form, scope and substance satisfactory to Agent in its sole discretion
and (iii) the indorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business)
or (c) make or permit to exist any loan, advances or guarantees to or for the benefit of any Person or assume, guarantee, endorse,
contingently agree to purchase or otherwise become liable for or upon or incur any obligation of any Person except as provided in clause
(b). Borrower shall not purchase, lease, own, operate, hold, invest in or otherwise acquire any property or asset or any Collateral that
is located outside of the continental United States except as provided in clause (b). Borrower shall not have any Subsidiaries.

 

		7.4	Dividends;
Redemptions; Equity

 

(a)
Except as otherwise agreed to by Agent in its sole discretion, Borrower shall not (i) declare, pay or make any dividend or distribution
on any Equity Interests or other securities or ownership interests, (ii) apply any of its funds, property or assets to the acquisition,
redemption or other retirement of any Equity Interests or other securities or interests or of any options to purchase or acquire any
of the foregoing, (iii) otherwise make any payments, dividends or distributions to any member, manager, managing member, stockholder,
director or other equity owner in such Person’s capacity as such, (iv) make any payment of any management, service or related
or similar fee to any Affiliate or holder of Equity Interests of Borrower or (v) issue, sell or create any Equity Interests; provided,
however, that so long as the Amortization Period has not begun and no Event of Default or Early Wind-Down Trigger Event has occurred
and is continuing, or would be caused by such dividend or distribution, Borrower may make distributions and/or dividends without the
written consent of Agent using amounts distributed to or on behalf of Borrower in accordance with Section 2.4(a)(ix).

 

(b)
Except as otherwise agreed to by Agent in its sole discretion, Originator shall not (i) declare, pay or make any dividend or distribution
on any Equity Interests or other securities or ownership interests, (ii) apply any of its funds, property or assets to the acquisition,
redemption or other retirement of any Equity Interests or other securities or interests or of any options to purchase or acquire any
of the foregoing, (iii) otherwise make any payments, dividends or distributions to any member, manager, managing member, stockholder,
director or other equity owner in such Person’s capacity as such, (iv) make any payment of any management, service or related
or similar fee to any Affiliate or holder of Equity Interests of Originator or (v) issue, sell or create any Equity Interests; provided,
however, that so long as no Event of Default or Early Wind-Down Trigger Event has occurred and is continuing, or would be caused
by such dividend or distribution, Originator may make distributions and/or dividends.

 

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		7.5	Transactions
with Affiliates

 

Borrower
shall not enter into or consummate any transaction of any kind with any of its Affiliates other than (a) the transactions contemplated
hereby and by the other Loan Documents, including any sale or assignment of Receivables pursuant to a securitization, subject to compliance
with the requirements set forth in Section 2.6 hereof, and (b) to the extent not otherwise prohibited under this Agreement,
other transactions upon fair and reasonable terms materially no less favorable to Borrower than would be obtained in a comparable arms-length
transaction with a Person not an Affiliate.

 

		7.6	Charter
Documents; Fiscal Year; Dissolution; Use of Proceeds; Insurance Policies; Disposition of Collateral; Trade Names

 

Borrower
shall not (a) amend, modify, restate or change its certificate of formation, operating agreement or similar charter or governance
documents in a manner that would be adverse to Agent or any other Secured Party, (b) change its state of organization or change
its corporate name without thirty (30) calendar days prior written notice to Agent, (c) change its fiscal year, (d) amend,
alter, suspend, terminate or make provisional in any material way, any Permit, the suspension, amendment, alteration or termination of
which could reasonably be expected to be, have or result in a Material Adverse Effect without the prior written consent of Agent, which
consent shall not be unreasonably withheld, (e) wind up, liquidate or dissolve (voluntarily or involuntarily) or commence or suffer
any proceedings seeking or that would result in any of the foregoing, (f) use any proceeds of any Loan for “purchasing”
or “carrying” “margin stock” as defined in Regulations T, U or X of the Board of Governors of the Federal Reserve
System for any use not contemplated or permitted by this Agreement, (g) amend, modify, restate or change any insurance policy in a manner
adverse to Agent or any other Secured Party in any material respect, (h) engage, directly or indirectly, in any business other than
as set forth herein or (i) establish new or additional trade names without providing not less than thirty (30) days advance written
notice to Agent.

 

		7.7	Transfer
of Collateral; Amendment of Receivables

 

(a)
Other than pursuant to Permitted Dispositions, Borrower shall not sell, lease, transfer, pledge, encumber, assign or otherwise dispose
of any Collateral without the prior consent of Agent.

 

(b)
Borrower shall not extend, amend, waive or otherwise modify the terms of any Receivable or permit the rescission or cancellation of any
Receivable, whether for any reason relating to a negative change in the related Account Debtor’s creditworthiness or inability
to make any payment under the Receivable or otherwise, except as required by Applicable Law and as permitted by the Underwriting Guidelines
or as otherwise permitted in the applicable Servicing Agreement.

 

(c)
Except as required by Applicable Law, Borrower shall not terminate or reject any Receivable prior to the end of the term of such Receivable,
unless prior to such termination or rejection, such Receivable and any related Collateral have been released from the Lien created by
this Agreement.

 

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		7.8	Contingent
Obligations and Risks

 

Except
as otherwise expressly permitted by this Agreement, Borrower shall not enter into any Contingent Obligations or assume, guarantee, endorse,
contingently agree to purchase or otherwise become liable for or upon or incur any obligation of any Person (other than indemnities to
managers, officers and directors of such Person to the extent permitted by Applicable Law); provided, however, that nothing
contained in this Section 7.8 shall prohibit Borrower from indorsing checks in the ordinary course of its business.

 

		7.9	Truth
of Statements

 

Borrower
shall not furnish to Agent any certificate or other document that when furnished contains any untrue statement of a material fact or
that omits to state a material fact necessary to make it not misleading in light of the circumstances under which it was furnished.

 

		7.10	Modifications
of Agreements

 

Borrower
shall not make, or agree to make, any modification, amendment or waiver of any of the terms or provisions of any Purchase and Sale Agreement
or the Charge-Off Policy without the prior written consent of Agent. Borrower hereby represents and warrants that, as of the date hereof,
it is the sole “Purchaser” (as defined in each Purchase and Sale Agreement) under each Purchase and Sale Agreement.

 

		7.11	Anti-Terrorism;
OFAC

 

Borrower
shall not (a) be or become a Person whose property or interests in property are blocked or subject to blocking pursuant to Section 1
of Executive Order 13224 of September 23, 2001 Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit
or Support Terrorism (66 Fed. Reg. 49079 (2001)), (b) engage in any dealings or transactions prohibited by Section 2 of such executive
order, or otherwise be associated with any such Person in any manner violative of Section 2 of such executive order, or (c) otherwise
become a Person on the list of Specially Designated Nationals and Blocked Persons in violation of the limitations or prohibitions under
any other OFAC regulation or executive order.

 

		7.12	Deposit
Accounts and Payment Instructions

 

(a)
Borrower shall not open a Deposit Account (other than those listed in Section 5.16 of Schedule A as of the Closing Date)
without the prior written consent of Agent.

 

(b)
Borrower shall not make any change in the instructions to Servicer with respect to the deposits of collections regarding Receivables
to the Intermediate Account in accordance with this Agreement, the Servicing Agreement and the Multi-Party Agreement.

 

(c)
Borrower shall not, and shall require Servicer to not, make any change in the instructions to any Account Debtor on any Receivable that
is Collateral with respect to any instructions to such Account Debtors regarding payment to be made to the Intermediate Account.

 

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		7.13	Servicing
Agreement

 

Borrower
shall not, without the prior written consent of Agent in its sole discretion:

 

(a)
with respect to the Servicing Agreement, terminate, amend or modify any Servicing Agreement in any manner;

 

(b)
except in connection with the replacement of the Servicer by the Backup Servicer or third party servicer acceptable to Agent after an
Event of Default and in accordance with Section 6.12(b), allow Servicer to transfer, assign or delegate any of its duties or functions
under the Servicing Agreement, as applicable, to any Person, or otherwise engage any such Person to perform any such duties or functions
for or on behalf of Servicer, or Borrower, in each case other than in accordance with the Servicing Agreement (to the extent Borrower’s
or Originator’s consent is not required for such transfer, assignment or delegation) or the Multi-Party Agreement; and

 

(c)
except in connection with the replacement of the Servicer by the Backup Servicer or third party servicer acceptable to Agent after an
Event of Default and in accordance with Section 6.12(b) and the Multi-Party Agreement, transfer the duties and functions of Servicer
under the Servicing Agreement to any other Persons.

 

		7.14	No
Adverse Selection

 

Borrower
covenants and agrees that all Receivables selected to be purchased by Borrower pursuant to the Purchase and Sale Agreement from all other
similar receivables originated or owned by Originator shall, at all times, be selected at random and with no intention to select receivables
that would be more adverse to Agent or any other Secured Party than those similar receivables.

 

		7.15	Bank
Partnership Agreement

 

Borrower
covenants and agrees that neither Borrower nor Originator shall enter into any agreement with a bank partner with respect to the origination
of Receivables by such bank without the prior consent of Agent in its Permitted Discretion.

 

	VIII.	EVENTS
OF DEFAULT

 

The
occurrence of any one or more of the following shall constitute an “Event of Default”:

 

(a)
Borrower shall fail to pay (i) any principal component of any Obligation or provided for in any Loan Document when due (in all cases,
whether on a specific due date, pursuant to Section 2.6, at maturity, by reason of acceleration, by notice of intention to prepay,
by required prepayment or otherwise) or (ii) any interest, fee or other Obligation within two (2) Business Days after the date due;

 

(b)
any representation, statement or warranty made or deemed made by Borrower in any Loan Document or in any other certificate, document,
report or opinion delivered in conjunction with any Loan Document to which it is a party (other than representations or warranties with
respect to whether a Receivable was an Eligible Receivable), shall not be true and correct in all material respects or shall have been
false or misleading in any material respect on the date when made or deemed to have been made (except to the extent already qualified
by materiality, in which case it shall be true and correct in all respects and shall not be false or misleading in any respect) except
those made as of a specific date;

 

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(c)
Borrower shall be in violation, breach or default of, or shall fail to perform, observe or comply with any covenant, obligation or agreement
of it set forth in this Agreement (other than any violation, breach or default in the covenants set forth in Sections 2.11, 6.1,
6.15 or Article VII or the misappropriation of any funds to be delivered to the Collection Account pursuant to Section
2.3 and applied pursuant to Section 2.4, for which there shall be no cure period) such violation, breach, default or failure
shall continue or not be cured within a period of thirty (30) days after such violation, breach, default or failure or such other applicable
period set forth in this Agreement;

 

(d)
Borrower or Indemnitor shall be in violation, breach or default of, or shall fail to perform, observe or comply with any covenant, obligation
or agreement set forth in, or any event of default occurs under, any Loan Document other than this Agreement and such violation, breach,
default, event of default or failure shall not be cured within the applicable period set forth in the applicable Loan Document or, if
no cure period is provided for therein, within a period of ten (10) days;

 

(e)
(i) any of the Loan Documents ceases to be in full force and effect (other than in accordance with its terms); (ii) the obligations of
Indemnitor under the Indemnity Agreement are limited or terminated by operation of law or by Indemnitor or (iii) any Lien created
under any Loan Document ceases to constitute a valid first priority (other than with respect to property or assets covered by Permitted
Liens) perfected Lien on the Collateral in accordance with the terms thereof, except with respect to Collateral that is released from
the Lien of Agent as permitted under the Loan Documents or the Security Documents;

 

(f)
one or more final judgments or decrees is rendered against Borrower in an amount in excess of $250,000 individually or $500,000 in the
aggregate (excluding judgments to the extent covered by insurance of Borrower) or Parent or Originator in an amount in excess of $5,000,000
individually (excluding judgments to the extent covered by insurance), which is/are not bonded pending appeal, satisfied, stayed, vacated
or discharged of record within thirty (30) calendar days of being rendered;

 

(g)
(i) any default or breach occurs, which is not cured within any applicable grace period or waived, (x) in the payment of any
amount with respect to any Indebtedness (other than the Obligations) of Borrower for borrowed money having an aggregate principal amount
in excess of $250,000 individually, or (y) in the performance, observance or fulfillment of any provision contained in any agreement,
contract, document or instrument to which Borrower is a party or to which any of its properties or assets are subject or bound under
or pursuant to which any Indebtedness having an aggregate principal amount in excess of $250,000 individually or in the aggregate with
respect to Borrower was issued, created, assumed, guaranteed or secured and such default or breach continues for more than any applicable
grace period and permits the holder of any such Indebtedness to accelerate the maturity thereof; or (ii) any Indebtedness of Borrower
for borrowed money having an aggregate principal amount in excess of $250,000 individually or in the aggregate with respect to Borrower
is declared to be due and payable or is required to be prepaid (other than by a regularly scheduled payment or a payment due on the voluntary
termination of a capital lease) prior to the stated maturity thereof or (iii) any Indemnitor (A) fails to make any payment beyond the
applicable grace period with respect thereto (as the same may be extended), if any (whether by scheduled maturity, required prepayment,
acceleration, demand, or otherwise) in respect of any Indebtedness (other than Indebtedness hereunder) having an aggregate principal
amount exceeding $5,000,000, or (B) fails to observe or perform any other agreement or condition relating to any such Indebtedness, or
any other event occurs (other than (x) with respect to Indebtedness consisting of swap contracts, termination events or equivalent events
pursuant to the terms of such swap contracts and (ii) any event requiring prepayment pursuant to customary asset sale provisions), the
effect of which default or other event is to cause all such Indebtedness to become due or to be repurchased, prepaid, defeased or redeemed
(automatically or otherwise), or an offer to repurchase, prepay, defease or redeem all such Indebtedness to be made, prior to its stated
maturity; provided that this clause shall not apply to secured Indebtedness that becomes due (or requires an offer to purchase) as a
result of the voluntary sale or transfer of the property or assets securing such Indebtedness, if such sale or transfer is permitted
hereunder and under the documents providing for such Indebtedness;

 

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(h)
Any of Borrower or Indemnitor shall (i) admit in writing that it is unable to pay its debts generally as they become due, (ii) file
a petition under any insolvency statute, (iii) make a general assignment for the benefit of its creditors, (iv) commence a
proceeding for the appointment of a receiver, trustee, liquidator or conservator of itself or of the whole or any substantial part of
its property or shall otherwise be dissolved or liquidated, or (v) file a petition seeking reorganization or liquidation or similar
relief under any Debtor Relief Law or any other Applicable Law;

 

(i)
(i) a court of competent jurisdiction shall (A) enter an order, judgment or decree appointing a custodian, receiver, trustee,
liquidator or conservator of any of Borrower or Indemnitor or the whole or any substantial part of the properties of Borrower or Indemnitor,
which shall continue un-stayed and in effect for a period of ninety (90) calendar days, (B) approve a petition filed against Borrower
or Indemnitor seeking reorganization, liquidation or similar relief under the any Debtor Relief Law or any other Applicable Law, which
is not dismissed within ninety (90) calendar days or, (C) under the provisions of any Debtor Relief Law or other Applicable Law,
assume custody or control of Borrower or Indemnitor or of the whole or any substantial part of the properties of Borrower or Indemnitor,
which is not irrevocably relinquished within ninety (90) calendar days, or (ii) there is commenced against Borrower or Indemnitor
any proceeding or petition seeking reorganization, liquidation or similar relief under any Debtor Relief Law or any other Applicable
Law or statute, which (A) is not unconditionally dismissed within ninety (90) calendar days after the date of commencement, or (B) is
with respect to which Borrower or Indemnitor takes any action to indicate its approval of or consent;

 

(j)
any Change of Control occurs; provided, however, that any Change of Control resulting from any disposition of Equity Interests
of the Parent held by any RideNow Permitted Holder or Oaktree and its Affiliates pursuant to a negotiated transaction with a third party
shall not mature into an Event of Default until thirty (30) days following the occurrence of such Change of Control (it being understood
and agreed any such Default may not be cured as a result of a transaction or series of transactions whereby the original Change of Control
ceases to exist);

 

(k)
the suspension, loss, revocation, or failure to renew or file for renewal of any legally required registration, approval, license, permit,
or franchise now held or hereafter acquired by Borrower or Indemnitor that is reasonably likely to result in a Material Adverse Effect
or the issuance of any stay order, cease and desist order or similar judicial or non-judicial sanction prohibiting the collection of
the Receivables;

 

(l)
the occurrence of a Level Two Regulatory Event with respect to more than fifteen percent (15%) of the Receivables pledged as Collateral
(as determined by aggregate Receivables Balance); provided, however, to the extent Borrower has timely made any mandatory prepayment
required under Section 2.6 of this Agreement after the occurrence of such Level Two Regulatory Event, then such Level Two Regulatory
Event shall no longer constitute an Event of Default and shall be deemed to be an Early Wind-Down Trigger Event in lieu thereof (unless
waived by Agent and Required Lenders in their sole and absolute discretion);

 

(m)
at any time, both of the following are true:  (i) Borrower is a “covered fund” under the Volcker Rule and (ii) the interests
of the Lenders or the Agent hereunder (including, without limitation, the Loan made by the Lenders) is an “ownership interest”
under the Volcker Rule;

 

(n)
Borrower, Parent, Originator or any of Borrower’s, Parent’s or Originator’ directors, managers, managing members or
executive officers is criminally indicted or convicted (i) of a felony, or (ii) under any law, which indictment or conviction is reasonably
likely to lead to a forfeiture of any material (as determined by Agent in its Permitted Discretion) portion of the Collateral; or

 

(o)
the occurrence of any Servicer Default that is not cured or waived (by Agent in its sole discretion) within five (5) Business Days after
the occurrence thereof, provided, however, that so long as Servicer is not an Affiliate of Borrower or Indemnitor, such
Servicer Default shall not constitute an Event of Default to the extent that following the occurrence of such Servicer Default, Borrower
is diligently working to find a replacement Servicer and such replacement (i) is identified by Borrower within ten (10) Business Days
thereof (or such later date consented to in writing by the Agent in its Permitted Discretion), (ii) is appointed and accepts the role
of replacement Servicer within thirty (30) days thereof (or such later date consented to in writing by the Agent in its Permitted Discretion)
and (iii) is otherwise acceptable to Agent in its Permitted Discretion;

 

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In
any such event, notwithstanding any other provision of any Loan Document, (a) Agent may (and at the request of Requisite Lenders,
shall), by notice to Borrower (i) terminate its obligations hereunder and/or the Revolving Loan Amount of each of the Lenders, whereupon
the same shall immediately terminate, (ii) substitute immediately Backup Servicer or any other third party servicer acceptable to Agent,
in its sole discretion, for Servicer in all of Servicer’s roles and functions as contemplated by the Loan Documents and the Servicing
Agreement and any fees, costs and expenses of, for or payable to Backup Servicer or other third party servicer acceptable to Agent, in
its sole discretion, and reasonably acceptable to Borrower shall be at Borrower’s sole cost and expense, (iii) with respect to
the Collateral, (1) terminate the Servicing Agreement and service the Collateral, including the right to institute collection, foreclosure
and other enforcement actions against the Collateral; (2) enter into modification agreements and make extension agreements with respect
to payments and other performances; (3) release Account Debtors and other Persons liable for performance; (4) settle and compromise disputes
with respect to payments and performances claimed due, all without notice to Borrower, and all in Agent’s sole discretion and without
relieving Borrower from performance of the obligations hereunder or under any other Loan Document; (5) receive, collect, open and read
all mail of Borrower for the purpose of obtaining all items pertaining to the Collateral and any collateral described in any Loan Document;
(6) collect all interest, principal, prepayments (both voluntary and mandatory), and other amounts of any and every description
payable by or on behalf of any Account Debtor pursuant to any Receivable, the related Portfolio Documents, or any other related documents
or instruments directly from such Account Debtor; and (7) apply all amounts in or subsequently deposited in any Deposit Account to the
payment of the unpaid Obligations or otherwise as Agent in its sole discretion shall determine; and (iv) declare all or any of the
Loan and/or Notes, all interest thereon and all other Obligations to be due and payable immediately (except in the case of an Event of
Default under Section 8(h), (i) (other than an Event of Default under Section 8(h) or (i) with respect
to Indemnitor)), in which event all of the foregoing shall automatically and without further act by Agent, Managing Agents or Lenders
be due and payable and Agent, Managing Agents or Lenders’ obligations hereunder shall terminate, in each case without presentment,
demand, protest or further notice of any kind, all of which are hereby expressly waived by Borrower and (b) effective immediately
upon receipt of notice from Agent (unless specifically prohibited and provided for in Article VII, in which case effective immediately
upon an Event of Default without any action of Agent, any Managing Agent or any Lender), no action permitted to be taken under Article
VII hereof may be taken.

 

	IX.	RIGHTS
AND REMEDIES AFTER DEFAULT

 

		9.1	Rights
and Remedies

 

(a)
In addition to the acceleration provisions set forth in Article VIII above, upon the occurrence and during the continuation of
an Event of Default, Agent shall have the right to (and at the request of Requisite Lenders, shall) exercise any and all rights, options
and remedies provided for in any Loan Document, Portfolio Document, under the UCC or at law or in equity, including the right to (i)
apply any property of Borrower held by Agent to reduce the Obligations, (ii) foreclose the Liens created under the Loan Documents, (iii) realize
upon, take possession of and/or sell any Collateral, with or without judicial process, (iv) exercise all rights and powers with
respect to the Collateral as Borrower might exercise, (v) collect and send notices regarding the Collateral, with or without judicial
process, (vi) by its own means or with judicial assistance, enter any premises at which Collateral is located or dispose of the Collateral
on such premises without any liability for rent, storage, utilities, or other sums, and Borrower shall not resist or interfere with such
action, (vii) at Borrower’s expense, require that all or any part of the Collateral be assembled and made available to Agent at
any place designated by Agent in its sole discretion, (viii) reduce or otherwise change the Borrowing Base and/or the Maximum Loan Amount
and/or any component of the Maximum Loan Amount and/or (ix) relinquish or abandon any Collateral or any Lien thereon. Notwithstanding
any provision of any Loan Document, Agent, in its sole discretion, shall have the right, at any time that Borrower fails to do so after
an Event of Default, without prior notice, to: (A) obtain insurance covering any of the Collateral to the extent required hereunder;
(B) pay for performance of any of the Obligations; (C) discharge Taxes, levies and/or Liens on any of the Collateral that are in violation
of any Loan Document unless Borrower is in good faith with due diligence by appropriate proceedings contesting those items; and (D) pay
for the maintenance, repair and/or preservation of the Collateral. Such expenses and advances shall be deemed Protective Advances hereunder
and shall be added to the Obligations until reimbursed to Agent, for its own account and for the benefit of the other Secured Parties,
and shall be secured by the Collateral, and such payments by Agent, for its own account and for the benefit of any other Secured Party,
shall not be construed as a waiver by Agent or any other Secured Party of any Event of Default or any other rights or remedies of Agent
or any other Secured Party.

 

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(b)
Borrower agrees that notice received at least ten (10) calendar days before the time of any intended public sale, private sale or other
disposition of Collateral is to be made, shall be deemed to be reasonable notice of such sale or other disposition. At any sale or disposition
of Collateral, Agent may (to the extent permitted by Applicable Law) purchase all or any part thereof free from any right of redemption
by Borrower, which right is hereby waived and released, to the extent permitted by law. Borrower covenants and agrees not to interfere
with or impose any obstacle to Agent’s exercise of its rights and remedies with respect to the Collateral. In dealing with or disposing
of the Collateral or any part thereof, Agent shall not be required to give priority or preference to any item of Collateral or otherwise
to marshal assets or to take possession or sell any Collateral with judicial process.

 

		9.2	Application
of Proceeds

 

Notwithstanding
any other provision of this Agreement (including Section 2.4), in addition to any other rights, options and remedies Agent and
the other Secured Parties, have under the Loan Documents, the UCC, at law or in equity, all dividends, interest, rents, issues, profits,
fees, revenues, income and other proceeds collected or received from collecting, holding, managing, renting, selling, or otherwise disposing
of all or any part of the Collateral or any proceeds thereof upon exercise of its remedies hereunder upon the occurrence and continuation
of an Event of Default shall be applied as set forth in Section 2.4(c); provided, that Borrower shall be liable for any
deficiency if such proceeds are insufficient to satisfy the Obligations (other than indemnity obligations
of Borrower under the Loan Documents that are not then due and payable or for which any events or claims that would give rise thereto
are not then pending) or any of the other items referred to in this Section to the extent the Obligations (other
than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or for which any events or claims that
would give rise thereto are not then pending) have not been indefeasibly paid in full in cash.

 

		9.3	Right
to Appoint Receiver

 

Without
limiting and in addition to any other rights, options and remedies Agent and the other Secured Parties have under the Loan Documents,
the UCC, at law or in equity, upon the occurrence and continuation of an Event of Default, Agent shall have the right to apply for and
have a receiver appointed by a court of competent jurisdiction in any action taken by Agent and/or any other Secured Party to enforce
its rights and remedies in order to manage, protect and preserve the Collateral and continue the operation of the business of Borrower
and to collect all revenues and profits thereof and apply the same to the payment of all expenses and other charges of such receivership
including the compensation of the receiver and to the payments as aforesaid until a sale or other disposition of such Collateral shall
be finally made and consummated.

 

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		9.4	Attorney-in-Fact

 

Borrower
hereby irrevocably appoints Agent as its attorney-in-fact for the limited purpose of taking any action permitted under the Loan Documents
that Agent deems necessary or desirable (in Agent’s sole discretion) upon the occurrence and continuation of an Event of Default
to protect and realize upon Agent’s Lien in the Collateral, including the execution and delivery of any and all documents or instruments
related to the Collateral in Borrower’s name, and said appointment shall create in Agent a power coupled with an interest.

 

		9.5	Rights
and Remedies not Exclusive

 

Agent
shall have the right in its sole discretion to determine which rights, Liens and/or remedies Agent and the other Secured Parties may
at any time pursue, relinquish, subordinate or modify, and such determination will not in any way modify or affect any of Agent or any
other Secured Party’s rights, Liens or remedies under any Loan Document, Applicable Law or equity. The enumeration of any rights
and remedies in any Loan Document is not intended to be exhaustive, and all rights and remedies of Agent and the other Secured Parties
described in any Loan Document are cumulative and are not alternative to or exclusive of any other rights or remedies which Agent and
the other Secured Parties otherwise may have. The partial or complete exercise of any right or remedy shall not preclude any other further
exercise of such or any other right or remedy.

 

	X.	WAIVERS
AND JUDICIAL PROCEEDINGS

 

		10.1	Waivers

 

Except
as expressly provided for herein, Borrower hereby waives set off, counterclaim, demand, presentment, protest, all defenses (other than
payment or satisfaction in full) with respect to any and all instruments and all notices and demands of any description, and the pleading
of any statute of limitations as a defense to any demand under any Loan Document. Borrower hereby waives any and all defenses (other
than payment or satisfaction in full) and counterclaims it may have or could interpose in any action or procedure brought by Agent to
obtain an order of court recognizing the assignment of, or Lien of Agent in and to, any Collateral.

 

		10.2	Delay;
No Waiver of Defaults

 

No
course of action or delay or omission of the Agent or any other Secured Party to exercise any right or remedy hereunder or under any
other Loan Document shall impair any such right or operate as a waiver thereof. No single or partial exercise by the Agent or any other
Secured Party of any right or remedy shall preclude any other or further exercise thereof, or preclude any other right or remedy. No
waiver by any party to any Loan Document of any one or more defaults by any other party in the performance of any of the provisions of
any Loan Document shall operate or be construed as a waiver of any future default, whether of a like or different nature, and each such
waiver shall be limited solely to the express terms and provisions of such waiver. Notwithstanding any other provision of any Loan Document,
by completing the Closing under this Agreement and/or by making Advances, no Secured Party waives any breach of any representation or
warranty of under any Loan Document, and all of Agent’s or any other Secured Party’s claims and rights resulting from any
such breach or misrepresentation are specifically reserved.

 

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		10.3	Jury
Waiver

 

EACH
PARTY HEREBY (i) EXPRESSLY, KNOWINGLY AND VOLUNTARILY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION ARISING UNDER
ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH OR INCIDENTAL TO THE DEALINGS OF THE PARTIES WITH RESPECT TO ANY LOAN DOCUMENT OR THE
TRANSACTIONS CONTEMPLATED THEREBY, WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, AND
(ii) AGREES AND CONSENTS THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO
THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION AS WRITTEN EVIDENCE OF THE CONSENTS OF THE PARTIES TO THE WAIVER
OF THEIR RESPECTIVE RIGHTS TO TRIAL BY JURY.

 

		10.4	Amendment
and Waivers

 

(a)
No amendment or waiver of any provision of this Agreement or any other Loan Document, or consent to any departure by Borrower or Indemnitor
therefrom, shall in any event be effective unless the same shall be in writing and signed by Borrower and the Requisite Lenders (or by
Agent on their behalf) without taking into account the Loans held by Non-Funding Lenders, and then such amendment, waiver or consent
shall be effective only in the specific instance and for the specific purpose for which given; provided, however, that
no amendment, waiver or consent shall, without the consent of all Lenders: (i) change the number of Lenders required for the Lenders
or any of them to take any action hereunder; (ii) amend any of the provisions of Sections 9.2 or this Section 10.4; (iii)
amend the sharing of payments by Lenders according to their Pro Rata Shares pursuant to Section 13.3 or the definitions of “Pro
Rata Share” or “Requisite Lenders; (iv) release all or substantially all of the value of guaranties delivered by the Indemnitor
or all or substantially all of the Collateral; (v) release Borrower from all of the Obligations other than upon payment in full of the
Obligations; (vi) consent to the assignment or other transfer by Borrower or any other party to any Loan Documents (other than Agent
or any Lender) of any of their rights and obligations under any Loan Document; or (vii) extend the scheduled due date, or reduce the
amount due on any scheduled due date, of any installment of principal, interest (other than a waiver of the incurring of or payment of
interest at the Default Rate pursuant to Section 3.2), or fees payable with respect to any portion of the Loan, or waive, forgive,
extend, defer or postpone the payment thereof; provided, further, that no amendment, waiver or consent shall, without the
consent of each Lender directly affected thereby: (i) reduce the amount of principal of, or interest on (other than a waiver of the incurring
of or payment of interest at the Default Rate pursuant to Section 3.2), or the interest rate (other than a waiver of the incurring
of or payment of interest at the Default Rate pursuant to Section 3.2) applicable to, the Loans or any fees or other amounts payable
hereunder; (ii) postpone any date on which any payment of principal of, or interest on (other than a waiver of the incurring of or payment
of interest at the Default Rate pursuant to Section 3.2), the Loans or any fees or other amounts payable hereunder is required
to be made; (iii) increase or extend the Revolving Loan Amount of any Lender; or (iv) reduce the principal of, rate of interest on (other
than a waiver of the incurring of or payment of interest at the Default Rate pursuant to Section 3.2) or fees payable with respect
to any portion of the Loan.

 

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(b)
Each amendment, modification, termination or waiver shall be effective only in the specific instance and for the specific purpose for
which it was given. No amendment, modification, termination or waiver shall be required for Agent to take additional Collateral pursuant
to any Loan Document.

 

(c)
Any amendment, modification, termination, waiver or consent effected in accordance with this Section 10.4 shall be binding
upon Agent, Managing Agents, Lenders and Borrower.

 

(d)
No consent or agreement by Borrower shall be required to amend, modify, change, restate, waive, supplement, discharge, cancel or terminate
any provision of Article XIII, so long as no additional duties are required to be assumed by Borrower or as otherwise set forth
in such Article.

 

(e)
Notwithstanding the foregoing, the Agent and Borrower shall be permitted to amend any provision of the Loan Documents (and any such amendment
shall become effective without any further action or consent of any other party to any Loan Document) if the Agent and the Borrower shall
have jointly identified an obvious error or any error, ambiguity, defect or inconsistency of omission of a technical or immaterial nature
in any such provision.

 

	XI.	EFFECTIVE
DATE AND TERMINATION

 

		11.1	Effectiveness
and Termination

 

Subject
to Agent’s right to accelerate the Loan and terminate the Revolving Loan Amount and cease making and funding Advances upon the
occurrence and during the continuation of any Event of Default, this Agreement shall continue in full force and effect until the Maturity
Date, unless terminated sooner as provided in Sections 2.5 or 2.6. All of the Obligations shall be immediately due and
payable upon the earlier of the Maturity Date, the Prepayment Date (only in the case of a prepayment in full of the Loans) or the date
upon which Agent declares all or any of the Loan and/or Note, all interest thereon and all other Obligations to be due and payable pursuant
to the terms of Article VIII, as applicable (the “Termination Date”). Notwithstanding any other provision
of any Loan Document, no termination of this Agreement shall affect Agent’s or any other Secured Party’s rights or any of
the Obligations existing as of the effective date of such termination, and the provisions of the Loan Documents shall continue to be
fully operative until the Obligations (other than indemnity obligations under the Loan Documents
that are not then due and payable or for which any events or claims that would give rise thereto are not then pending) have been
fully performed and indefeasibly paid in cash in full. The Liens granted to Agent, under the Security Documents and the financing statements
filed pursuant thereto and the rights and powers of Agent shall continue in full force and effect until all of the Obligations (other
than indemnity obligations under the Loan Documents that are not then due and payable or for which any events or claims that would give
rise thereto are not then pending) have been fully performed and indefeasibly paid in full in cash.

 

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		11.2	Survival

 

All
obligations, covenants, agreements, representations, warranties, waivers and indemnities made by Borrower in any Loan Document shall
survive the execution and delivery of the Loan Documents, the Closing, the making and funding of the Loan and any termination of this
Agreement until all Obligations (other than indemnity obligations of Borrower under the Loan Documents
that are not then due and payable or for which any events or claims that would give rise thereto are not then pending) are fully
performed and indefeasibly paid in full in cash. The obligations and provisions of Sections 3.1, 3.3, 3.4, 6.17,
10.1, 10.3, 11.1, 11.2, 12.1, 12.3, 12.4, 12.7, 12.9, 12.10, 12.11,
12.19, 12.20 and 14.1 shall survive termination of the Loan Documents and any payment in full of the Obligations,
until the applicable date, if any, set forth in such Sections.

 

	XII.	MISCELLANEOUS

 

		12.1	Governing
Law; Jurisdiction; Service of Process; Venue

 

(a)
THE LOAN DOCUMENTS ARE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK IN RELIANCE ON NEW YORK
GENERAL OBLIGATIONS LAW SECTION 5-1401, WITHOUT GIVING EFFECT TO ITS CHOICE OF LAW PRINCIPLES THAT WOULD RESULT IN APPLICATION OF THE
LAWS OF A DIFFERENT JURISDICTION. TO THE FULLEST EXTENT PERMITTED BY LAW, EACH PARTY HEREBY UNCONDITIONALLY AND IRREVOCABLY WAIVES ANY
CLAIM TO ASSERT THAT THE LAW OF ANY OTHER JURISDICTION GOVERNS THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS.

 

(b)
BY EXECUTION and delivery of each Loan Document to which it is a party, each of the parties hereto
hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of the Supreme Court of
the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any
appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement, or for recognition or enforcement
of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such
action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court.
Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that Agent,
ANY MANAGING AGENT or any Lender may otherwise have to bring any action or proceeding relating to this Agreement against Borrower or
its properties in the courts of any jurisdiction.

 

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(c)
EACH OF the PARTIES HERETO hereby irrevocably and unconditionally waives, to the fullest extent
it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or
proceeding arising out of or relating to this Agreement in any court referred to in paragraph (b) of this Section 12.1. Each of
the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance
of such action or proceeding in any such court.

 

(d)
EACH of the parties hereto waives personal service of process and irrevocably consents to service
of process in the manner provided for notices in Section 12.5. Nothing in this Agreement will affect the right of any party
to this Agreement to serve process in any other manner permitted by law.

 

		12.2	Successors
and Assigns; Assignments and Participations

 

(a)
Subject to Sections 12.2(f) and (h), a Lender may at any time, with the consent of the Agent and such Lender’s Managing
Agent (such consent not to be unreasonably withheld), assign all or a portion of its rights and delegate all or a portion of its Loans
and/or, in the case of any Bank Branch, its Revolving Loan Amount under this Agreement and the other Loan Documents (including all its
rights and obligations with respect to the Loan) to one or more Persons (a “Transferee”). Notwithstanding anything
to the contrary in this Agreement, there shall be no limitation or restriction on any Lender’s ability to assign, pledge or otherwise
transfer any Note or other Obligation. The Transferee and such Lender shall execute and deliver for acceptance and recording in the Lender
Register, a Lender Addition Agreement, which shall be in form and substance reasonably acceptable to Agent in its sole discretion (“Lender
Addition Agreement”). Upon such execution, delivery, acceptance and recording, from and after the effective date determined
pursuant to such Lender Addition Agreement, (i) the Transferee thereunder shall be a party hereto and, to the extent provided in such
Lender Addition Agreement, have the same rights, benefits and obligations as it would if it were a Lender hereunder, (ii) the assigning
Lender shall be relieved of its obligations hereunder with respect to its Loans or assigned portion thereof, as the case may be, to the
extent that such obligations shall have been expressly assumed by the Transferee pursuant to such Lender Addition Agreement (and, in
the case of a Lender Addition Agreement covering all or the remaining portion of an assigning Lender’s rights and obligations under
this Agreement, such assigning Lender shall cease to be a party hereto but, with respect to matters occurring before such assignment,
shall nevertheless continue to be entitled to the benefits of Sections 12.4 and 12.7). Borrower hereby acknowledges and
agrees that any assignment will give rise to a direct obligation of Borrower to the Transferee and that the Transferee shall be considered
to be a “Lender” hereunder. Borrower may not sell, assign or transfer any interest in this Agreement, any of the other Loan
Documents, or any of the Obligations, or any portion thereof, including Borrower’s rights, title, interests, remedies, powers,
and duties hereunder or thereunder.

 

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(b)
Lenders may at any time sell participations in all or any part of its rights and obligations under this Agreement and the other Loan
Documents (including all its rights and obligations with respect to the Loan) to one or more Persons with the prior written consent of
Agent (each, a “Participant”). In the event of any such sale by Lender of a participation to a Participant,
(i) such Lender’s obligations under this Agreement to the other parties to this Agreement shall remain unchanged, (ii) such Lender
shall remain solely responsible for the performance thereof, (iii) such Lender shall remain the holder of the participated portion of
the Loan (and any Note evidencing the Loan) for all purposes under this Agreement and the other Loan Documents, (iv) Borrower and Agent
shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this
Agreement and the other Loan Documents, and (v) all amounts payable pursuant to Section 6.2 by Borrower hereunder shall be
determined as if such Lender had not sold such participation. Any agreement pursuant to which any Lender shall sell any such participation
shall provide that such Lender shall retain the sole right and responsibility to exercise such Lender’s rights hereunder, including
the right to consent to any amendment, supplement, modification or waiver of any provision of this Agreement or any of the other Loan
Documents; provided, that such participation agreement may provide that such Lender will not agree, without the consent of the
Participant, to any amendment, supplement, modification or waiver of: (A) any reduction in the principal amount, interest rate or fees
payable with respect to the Loan in which such holder participates; (B) any extension of the termination date of this Agreement or the
date fixed for any payment of principal, interest or fees payable with respect to the Loan in which such holder participates; and (C)
any release of all or substantially all of the Collateral (other than in accordance with the terms of this Agreement or the Loan Documents).

 

(c)
Agent, on behalf of Borrower, shall maintain at its address referred to in Section 12.5 a copy of each Lender Addition Agreement
delivered to it and a written or electronic register (the “Lender Register”) for the recordation of the names
and addresses of the Lenders and the Loans made by, and the principal amount (and stated interest) of the Loan owing to, and the Revolving
Loan Amount of and any Notes evidencing the Loan owned by, each Lender and each Participant from time to time. Borrower and the Agent
shall treat each Person whose name is recorded in the Lender Register as the owner of the Loan, any Notes, the Revolving Loan Amount
and the Loans recorded therein for all purposes of this Agreement. The Lender Register shall be available for inspection by Borrower
or any Lender at any reasonable time and from time to time upon reasonable prior notice. The foregoing language is intended to cause
the Loan, and any assignments and participation thereof, to be in “registered form” as defined in Sections 163(f), 871(h)(2)
and 881(c)(2) of the Code and shall be interpreted and applied consistently therewith.

 

(d)
Notwithstanding anything in this Agreement to the contrary, no assignment under Section 12.2(a) of any rights or obligations under
or in respect of the Loan or any Notes evidencing the Loan shall be effective unless and until Agent shall have recorded the assignment
pursuant to Section 12.2(c). Upon its receipt of a Lender Addition Agreement executed by an assigning Lender and a Transferee,
Agent shall (i) promptly accept such Lender Addition Agreement and (ii) on the effective date determined pursuant thereto record the
information contained therein in the Lender Register and give prompt notice of such acceptance and recordation to the Lender and Borrower.
On or prior to such effective date, the assigning Lender shall surrender any outstanding Notes held by it, all or a portion of which
are being assigned, and Borrower, at its own expense, shall, upon the request of Agent by the assigning Lender or the Transferee, as
applicable, execute and deliver to Agent, within five (5) Business Days of any request, new Notes to reflect the interest held by the
assigning Lender and its Transferee.

 

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(e)
Except as otherwise provided in this Section 12.2 Agent shall not, as between Borrower and Agent, be relieved of any of its
obligations hereunder as a result of any sale, assignment, transfer or negotiation of, or granting of participation in, all or any part
of the Loan or other Obligations owed to Agent and Lenders. Agent may furnish any information concerning Borrower in the possession of
Agent from time to time to assignees and participants (including prospective assignees and participants), subject to confidentiality
requirements hereunder.

 

(f)
Notwithstanding any other provision set forth in this Agreement, Agent may at any time create a security interest in all or any portion
of its rights under this Agreement, including the Loan owing to it and the Notes held by it and the other Loan Documents and Collateral.

 

(g)
Borrower agrees to use commercially reasonable efforts to assist Agent in assigning or selling participations in all or any part of the
Loan made by any Lender to another Person identified by such Lender.

 

(h)
Notwithstanding anything in the Loan Documents to the contrary, (i) Agent and its Affiliates shall not be required to execute and
deliver a Lender Addition Agreement in connection with any transaction involving its Affiliates or lenders, (ii) no lender to or funding
or financing source of Agent or its Affiliates shall be considered a Transferee, (iii) there shall be no limitation or restriction on
Agent’s ability to assign or otherwise transfer any Loan Document to any such Affiliate or lender or funding or financing source,
and (iv)  there shall be no limitation or restriction on Agent’s Affiliates’ or lenders’ or financing or funding
sources’ ability to assign or otherwise transfer any Loan Document, Loan, Note or Obligation (or any of its rights thereunder or
interest therein); provided, however, Agent shall continue to be liable as a “Lender” under the Loan Documents
unless such Affiliate or lender or funding or financing source executes a Lender Addition Agreement and thereby becomes a “Lender.”

 

(i)
The Loan Documents shall inure to the benefit of Agent, Managing Agent, Lenders, Transferee and all future holders of any Notes, the
Obligations and/or any of the Collateral, and each of their respective successors and permitted assigns. Each Loan Document shall be
binding upon the Persons other than Agent that are parties thereto and their respective successors and assigns, and no such Person may
assign, delegate or transfer any Loan Document or any of its rights or obligations thereunder without the prior written consent of Agent.
No rights are intended to be created under any Loan Document for the benefit of any third party donee, creditor or incidental beneficiary
of Borrower. Nothing contained in any Loan Document shall be construed as a delegation to Agent of any other Person’s duty of performance.
BORROWER ACKNOWLEDGES AND AGREES THAT AGENT AT ANY TIME AND FROM TIME TO TIME MAY (I) DIVIDE AND REISSUE (WITHOUT SUBSTANTIVE CHANGES
OTHER THAN THOSE RESULTING FROM SUCH DIVISION) ANY NOTES, AND/OR (II) SELL, ASSIGN OR GRANT PARTICIPATING INTERESTS IN OR TRANSFER ALL
OR ANY PART OF ITS RIGHTS OR OBLIGATIONS UNDER ANY LOAN DOCUMENT, NOTE, THE OBLIGATIONS AND/OR THE COLLATERAL TO OTHER PERSONS, IN EACH
CASE ON THE TERMS AND CONDITIONS PROVIDED HEREIN. Each Transferee shall have all of the rights, obligations and benefits with respect
to the Obligations, Notes, Collateral and/or Loan Documents held by it as fully as if the original holder thereof; provided, that,
notwithstanding anything to the contrary in any Loan Document, Borrower shall not be obligated to pay under this Agreement to any Transferee
or Participant any sum in excess of the sum which it would have been obligated to pay to Agent had such participation not been effected.
Agent may disclose to any Transferee or Participant all information, reports, financial statements, certificates and documents obtained
under any provision of any Loan Document; provided, that Transferees and Participants shall be subject to the confidentiality
provisions contained herein that are applicable to Agent.

 

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(j)
Any Lender may assign or pledge all or any portion of the Loans or Notes held by it to any Federal Reserve Bank or the United States
Treasury as collateral security to secure obligations of such Lender, including any assignment or pledge pursuant to Regulation A of
the Board of Governors of the Federal Reserve System and any Operating Circular issued by such Federal Reserve Bank, provided,
that any payment in respect of such assigned Loans or Notes made by Borrower to or for the account of the assigning or pledging Lender
in accordance with the terms of this Agreement shall satisfy Borrower’s obligations hereunder in respect to such assigned Loans
or Notes to the extent of such payment. No such assignment shall release the assigning Lender from its obligations hereunder. Notwithstanding
anything to the contrary herein, without prior notice or consent or fee from the Borrower or the Agent or such Conduit Lender’s
Managing Agent and without any expense payment obligation from such Conduit Lender, each Conduit Lender may assign or pledge from time
to time all of or any part of its rights under, interest in and title to the Loan, Advances, the Collateral, this Agreement, and the
other Loan Documents to any Program Support Provider, Agent, Managing Agent or other Lender in its Lender Group or any Affiliate of such
Conduit Lender supported by any Program Support Provider or to any collateral agent or trustee of a Conduit Lender pursuant to which
any Conduit Lender is pledging or assigning any interest in the Loan, Advances, the Collateral, this Agreement, and the other Loan Documents
hereunder to such collateral agent or trustee.

 

		12.3	Application
of Payments

 

To
the extent that any payment made or received with respect to the Obligations is subsequently invalidated, determined to be fraudulent
or preferential, set aside, defeased or required to be repaid to a trustee, debtor in possession, receiver, custodian or any other Person
under any Debtor Relief Law, common law or equitable cause or any other law, then the Obligations intended to be satisfied by such payment
shall be revived and shall continue as if such payment had not been received by Agent and the Liens created hereby shall be revived automatically
without any action on the part of any party hereto and shall continue as if such payment had not been received by Agent. Except as specifically
provided in this Agreement, any payments with respect to the Obligations received shall be credited and applied in such manner and order
as Agent shall decide in its sole discretion.

 

		12.4	Indemnity

 

(a)
Borrower hereby agrees that it will indemnify, defend and hold harmless the Agent and the other Secured Parties, and their respective
successors and permitted assigns and their respective directors, officers, agents, employees, advisors, shareholders, attorneys and Affiliates
(each, an “Indemnified Person”) from and against any and all losses, claims, damages, liabilities, deficiencies,
obligations, fines, penalties, actions (whether threatened or existing), judgments, suits (whether threatened or existing) or expenses
(including reasonable out-of-pocket fees and disbursements of counsel, experts, consultants and other professionals) incurred by any
of them in connection with or related to this Agreement and/or the transaction contemplated in connection herewith (collectively, “Claims”)
(except, in the case of each Indemnified Person, to the extent that any Claim is determined in a final and non-appealable judgment by
a court of competent jurisdiction to have directly resulted from such Indemnified Person’s gross negligence or willful misconduct).
Without limiting or being limited by the foregoing, Borrower shall indemnify each Indemnified Person arising out of or related to any
of the following: of (i) any litigation, investigation, claim or proceeding related to (1) this Agreement, any other Loan Document
or the transactions contemplated hereby or thereby, (2) any actual or proposed use by Borrower of the proceeds of the Revolving
Advances, (3) the Agent’s or any Lender’s entering into this Agreement, or the other Loan Documents (other than consequential
damages and loss of anticipated profits or earnings), including amounts paid in settlement, court costs and the reasonable out-of-pocket
fees and disbursements of counsel incurred in connection with any such litigation, investigation, claim or proceeding, (ii) any remedial
or other action taken or required to be taken by Borrower, Servicer, Originator or Indemnitor in connection with compliance by such party,
or any of its properties, with any Applicable Law, (iii) any pending, threatened or actual action, claim, proceeding or suit by
any shareholder or director of Borrower, Servicer, Originator or Indemnitor or any actual or purported violation of Borrower’s
or Indemnitor’s governing documents or any other agreement or instrument to which Borrower or Indemnitor is a party or by which
any of its properties is bound, (iv) any breach of a representation or warranty with respect to Borrower or the Collateral, (v) any acts
of fraud by Borrower or Indemnitor related to the Loan or made in connection with the Loan Agreement or any Loan Document, (vi) any Change
of Control not approved in writing by Agent, (vii) any material waste, transfer, sale, encumbrance or other disposal of the Collateral
not permitted by the Loan Agreement or the other Loan Document or (viii) any failure to comply with the special purpose entity covenants
set forth in Section 6.13 hereof. In addition, Borrower shall, upon demand, pay to the Agent all reasonable costs and expenses
incurred by the Agent (including the reasonable fees and disbursements of counsel and other professionals) in connection with the preparation,
execution, delivery, administration (any internal “administrative” charges that are not out-of-pocket not to exceed $5,000
in any fiscal year), modification and amendment of the Loan Documents, and pay to the Agent and each Secured Party all costs and expenses
(including the reasonable fees and disbursements of counsel and other professionals) paid or incurred by the Agent or such other Secured
Party in (1) enforcing or defending its rights under or in respect of this Agreement, the other Loan Documents or any other document
or instrument now or hereafter executed and delivered in connection herewith, (2) collecting the Obligations and (3) foreclosing
or otherwise realizing upon the Collateral or any part thereof. If and to the extent that the obligations of Borrower or Indemnitor hereunder
or any other Loan Document are unenforceable for any reason, Borrower hereby agrees to make the maximum contribution to the payment and
satisfaction of such obligations that is permissible under Applicable Law. Without limiting any of the foregoing, Borrower indemnifies
the Indemnified Person for all claims for brokerage fees or commissions (other than claims of a broker with whom such Indemnified Person
has directly contracted in writing) which may be made in connection with respect to any aspect of, or any transaction contemplated by
or referred to in, or any matter related to, any Loan Document or any agreement, document or transaction contemplated thereby.

 

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(b)
Borrower’s obligations under Sections 3.3 and 14.1 and this Section 12.4 shall survive any termination of
this Agreement and the other Loan Documents and the payment in full of the Obligations, and are in addition to, and not in substitution
of, any of the other Obligations.

 

(c)
All payments due under this Section 12.4 are payable promptly (and in any event within three (3) Business Days) after written
demand therefor.

 

		12.5	Notice

 

Any
notice or request under any Loan Document shall be given to any party to this Agreement at such party’s address set forth beneath
its signature on the signature page to this Agreement, or at such other address as such party may hereafter specify in a notice given
in the manner required under this Section 12.5. Any notice for any Lender shall be sent to Agent. Any notice or request hereunder
shall be given only by, and shall be deemed to have been received upon (each, a “Receipt”): (i) registered
or certified mail, return receipt requested, on the date on which such received as indicated in such return receipt, (ii) delivery
by a nationally recognized overnight courier, one (1) Business Day after deposit with such courier, or (iii) Electronic Transmission,
in each case upon telephone or further electronic communication from the recipient acknowledging receipt.

 

		12.6	Severability;
Captions; Counterparts; Facsimile Signatures

 

In
case any provision in or obligation under this Agreement, any Notes or any other Loan Document shall be invalid, illegal or unenforceable
in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation
in any other jurisdiction, shall not in any way be affected or impaired thereby. The captions in the Loan Documents are intended for
convenience and reference only and shall not affect the meaning or interpretation of the Loan Documents. This Agreement and any waiver
or amendment hereto may be executed in counterparts and by the parties hereto in separate counterparts, each of which when so executed
and delivered shall be an original, but all of which shall together constitute one and the same instrument. This Agreement and each of
the other Loan Documents may be executed and delivered by telecopier, facsimile transmission or Electronic Transmission all with the
same force and effect as if the same was a fully executed and delivered original manual counterpart. Delivery of an executed signature
page of this Agreement and each of the other Loan Documents by telecopier, facsimile transmission or Electronic Transmission shall be
as effective as delivery of a manually executed counterpart hereof.

 

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		12.7	Expenses

 

Borrower
shall pay, whether or not the Closing occurs, all fees, costs and expenses incurred or earned by Agent and, to the extent any actual
or perceived conflict of interest exists and a secured party affected by such conflicts retains its own counsel, then any other Secured
Party, and/or its Affiliates including portfolio management, documentation and diligence fees and expenses, all search, audit, appraisal,
recording, professional and filing fees and expenses and all other charges and expenses (including UCC and judgment and tax lien searches
and UCC filings and fees for post-closing UCC and judgment and tax lien searches and wire transfer fees and audit expenses) (provided
the foregoing amounts together with the attorney’s fees and expenses in clause (b) below payable by Borrower in connection with the initial
Closing shall not exceed $250,000), and reasonable external attorneys’ fees and expenses, (a) in any effort to enforce, protect
or collect payment of any Obligation or to enforce any Loan Document or any related agreement, document or instrument, (b) in connection
with entering into, negotiating, preparing, reviewing and executing the Loan Documents and/or any related agreements, documents or instruments,
(c) arising in any way out of administration of the Obligations (any internal “administrative” charges that are not out-of-pocket
not to exceed $5,000 in any fiscal year) or the taking or refraining from taking by Agent of any action requested by Borrower, (d) in
connection with instituting, maintaining, preserving, enforcing and/or foreclosing on Agent’s Liens on any of the Collateral under
the Loan Documents, whether through judicial proceedings or otherwise, (e) in defending or prosecuting any actions, claims or proceedings
arising out of or relating to Agent’s or any other Secured Party’s transactions with Borrower, (f) in seeking, obtaining
or receiving any advice with respect to its rights and obligations under any Loan Document and any related agreement, document or instrument,
(g) arising out of or relating to any Default or Event of Default or occurring thereafter or as a result thereof, (h) subject to
the limitations set forth in Section 6.7, in connection with all actions, visits, audits and inspections undertaken by Agent
or its Affiliates pursuant to the Loan Documents, and/or (i) in connection with any modification, restatement, supplement, amendment,
waiver or extension of any Loan Document and/or any related agreement, document or instrument. All of the foregoing shall be charged
to Borrower’s account and shall be part of the Obligations.

 

		12.8	Entire
Agreement

 

This
Agreement and the other Loan Documents to which Borrower is a party constitute the entire agreement between Borrower, Agent, Managing
Agents and Lenders with respect to the subject matter hereof and thereof, and supersede all prior agreements and understandings (including
the term sheet dated on or about September 9, 2021), if any, relating to the subject matter hereof or thereof. Any promises, representations,
warranties or guarantees not herein contained and hereinafter made shall have no force and effect unless in writing signed by Borrower,
Agent, and Requisite Lenders as appropriate. Except as set forth in and subject to Section 10.4, no provision of any Loan Document
may be changed, modified, amended, restated, waived, supplemented, discharged, canceled or terminated orally or by any course of dealing
or in any other manner other than by an agreement in writing signed by Borrower, Agent, Requisite Lenders and the other parties thereto.
Each party hereto acknowledges that it has been advised by counsel in connection with the negotiation and execution of this Agreement
and is not relying upon oral representations or statements inconsistent with the terms and provisions hereof. The schedules attached
hereto may be amended or supplemented by Borrower upon delivery to Agent of such amendments or supplements and, except as expressly provided
otherwise in this Agreement, the written approval thereof by Agent. The preparation of this Agreement has been a joint effort of the
parties hereto and their counsel. The resulting document shall not as matter of judicial construction be construed more severely against
one of the parties or against any particular draftsman.

 

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		12.9	Approvals
and Duties

 

Unless
expressly provided herein to the contrary, any approval, consent, waiver or satisfaction of Agent with respect to any matter that is
subject of any Loan Document may be granted or withheld by Agent in its sole and absolute discretion. Except as otherwise required by
law, Agent shall have no responsibility for or obligation or duty with respect to any of the Collateral or any matter or proceeding arising
out of or relating thereto, including any obligation or duty to collect any sums due in respect thereof or to protect or preserve any
rights pertaining thereto.

 

		12.10	Release
of Collateral

 

(a)
So long as no Event of Default has occurred and is continuing, upon request of Borrower, Agent shall release any Lien granted to or held
by Agent upon any Collateral being sold or disposed of in compliance with the provisions of the Loan Documents, which compliance will
be determined by Agent in its reasonable discretion. In furtherance of the foregoing, so long as no Event of Default or Early Wind-Down
Trigger Event exists, if the terms and conditions set forth this in Agreement with respect to any Permitted Disposition are fully complied
with (including, without limitation, the receipt of the proceeds of such sale or disposition in accordance with this Agreement), then
Agent’s Lien on such Assets shall be deemed automatically released without any further action. If requested by Borrower, upon,
or simultaneously with the, receipt of the proceeds of such sale or disposition in accordance with this Agreement, Agent shall execute
and deliver such documents, at Borrower’s expense, as are necessary to further evidence the release of Agent’s Liens on the
applicable Collateral and shall return the applicable Collateral to Borrower; provided, however, that the parties agree
that, notwithstanding any such termination or release or the execution, delivery or filing of any such documents or the return of any
Collateral, if and to the extent that any such payment made or received of the Obligations is subsequently invalidated, determined to
be fraudulent or preferential, set aside, defeased or required to be repaid to a trustee, debtor in possession, receiver or custodian
of the Borrower or Indemnitor or any other similar Person under any Debtor Relief Law, common law or equitable cause or any other law,
then the Obligations intended to be satisfied by such payment shall be revived and shall continue as if such payment had not been received
by Agent and the Liens created hereby shall be revived automatically without any action on the part of any party hereto and shall continue
as if such payment had not been received by Agent. Agent shall not be deemed to have made any representation or warranty with respect
to any Collateral so delivered except that such Collateral is free and clear, on the date of such delivery, of any and all Liens arising
from such Person’s own acts.

 

(b)
Subject to Section 12.3, promptly following full performance and satisfaction and indefeasible payment in full in cash of all
Obligations (other than indemnity obligations of Borrower under the Loan Documents that are not
then due and payable or for which any events or claims that would give rise thereto are not then pending) and the termination
of this Agreement, the Liens created hereby shall terminate and Agent shall execute and deliver such documents, at Borrower’s expense,
as are necessary to release Agent’s Liens on the Collateral and shall return the Collateral to Borrower; provided, however,
that the parties agree that, notwithstanding any such termination or release or the execution, delivery or filing of any such documents
or the return of any Collateral, if and to the extent that any such payment made or received of the Obligations is subsequently invalidated,
determined to be fraudulent or preferential, set aside, defeased or required to be repaid to a trustee, debtor in possession, receiver
or custodian of the Borrower or Indemnitor or any other similar Person under any Debtor Relief Law, common law or equitable cause or
any other law, then the Obligations intended to be satisfied by such payment shall be revived and shall continue as if such payment had
not been received by Agent and the Liens created hereby shall be revived automatically without any action on the part of any party hereto
and shall continue as if such payment had not been received by Agent. Agent shall not be deemed to have made any representation or warranty
with respect to any Collateral so delivered except that such Collateral is free and clear, on the date of such delivery, of any and all
Liens arising from such Person’s own acts.

 

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		12.11	Times
of Day

 

Unless
otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard, as applicable).

 

		12.12	Rounding

 

Any
ratios required to be maintained by Borrower pursuant to this Agreement shall be calculated by dividing the appropriate component by
the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding
the result up or down to the nearest number (with a rounding-up if there is no nearest number).

 

		12.13	No
Advisory or Fiduciary Responsibility

 

In
connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification
hereof or of any other Loan Document), Borrower acknowledges and agrees that: (i) (A) the arranging and other services regarding this
Agreement provided by the Managing Agents and Lenders are arm’s-length commercial transactions between Borrower and its Affiliates,
on the one hand, and the Managing Agents and Lenders and their Affiliates, on the other hand, (B) Borrower has consulted its own legal,
accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) Borrower is capable of evaluating, and understands
and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii) (A) each of
the Managing Agents and Lenders and their Affiliates is and has been acting solely as a principal and, except as expressly agreed in
writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for Borrower or any of
its Affiliates, or any other Person and (B) no Managing Agents or Lender or any of their Affiliates has any obligation to Borrower or
any of its Affiliates with respect to the transactions contemplated hereby except, in the case of a Managing Agent and a Lender, those
obligations expressly set forth herein and in the other Loan Documents; and (iii) each of the Managing Agents and Lenders and their respective
Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of Borrower and its Affiliates,
and no Managing Agent or Lender or any of their Affiliates has any obligation to disclose any of such interests to Borrower or its Affiliates.
To the fullest extent permitted by law, Borrower hereby waives and releases any claims that it may have against each of the Managing
Agents and Lenders and their Affiliates with respect to any breach or alleged breach of agency or fiduciary duty in connection with any
aspect of any transaction contemplated hereby.

 

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		12.14	Independent
Effect of Covenants

 

Borrower
expressly acknowledges and agrees that each covenant contained in Articles VI or VII hereof shall be given independent
effect. Accordingly, Borrower shall not engage in any transaction or other act otherwise permitted under any covenant contained in Articles
VI or VII, if, before or after giving effect to such transaction or act, Borrower shall or would be in breach of any other
covenant contained in Articles VI or VII.

 

		12.15	Right
of Setoff

 

If
an Event of Default shall have occurred and be continuing, each Secured Party and each of its Affiliates is hereby authorized at any
time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time
or demand, provisional or final and in whatever currency denominated) at any time held and other obligations at any time owing by such
Secured Party or Affiliate to or for the credit or the account of Borrower against any of and all of the Obligations held by such Secured
Party, irrespective of whether or not such Secured Party shall have made any demand under the Loan Documents and although such obligations
may be unmatured; provided that, in the event that any Non-Funding Lender shall exercise any such right of setoff, (i) all
amounts so set off shall be paid over immediately to Agent for further application in accordance with the provisions of Section 13.3
and, pending such payment, shall be segregated by such Non-Funding Lender from its other funds and deemed held in trust for the benefit
of Agent and the other Secured Parties, and (ii) the Non-Funding Lender shall provide promptly to Agent a statement describing in
reasonable detail the Obligations owing to such Non-Funding Lender as to which it exercised such right of setoff. The rights of each
Secured Party under this Section are in addition to other rights and remedies (including other rights of setoff) which such Secured Party
may have. Each Secured Party agrees to notify Borrower and Agent promptly after any such setoff and application by such Secured Party;
provided that, the failure to give such notice shall not affect the validity of such setoff and application.

 

		12.16	Confidentiality
and Publicity

 

(a)
Borrower agrees, and agrees to cause each of its Affiliates, (i) not to transmit or disclose any provision of any Loan Document
to any Person, other than to any Person described in clauses (c)(i) through (x) below, and subject to the various requirements set forth
within such clause (c), without Agent’s prior written consent. Borrower agrees to submit to Agent and Agent reserves the right
to review and, except as set forth in clauses (c)(vii), (c)(ix) and (c)(x) below, approve all materials that Borrower or any of its Affiliates
prepare that contain Agent’s name or describe or refer to any Loan Document, any of the terms thereof or any of the transactions
contemplated thereby. Borrower shall not, and shall not permit any of its Affiliates to, use Agent’s name (or the name of any of
Agent’s affiliates) in connection with any public advertising, marketing or press releases or such other similar purposes, except
as set forth in clauses (c)(vii), (c)(ix) and (c)(x) below without Agent’s prior written consent. Nothing contained in any Loan
Document is intended to permit or authorize Borrower or any of its Affiliates to contract on behalf of Agent, any Managing Agent or any
Lender.

 

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(b)
Borrower hereby agrees that Agent or any Affiliate of Agent may (i) disclose a general description of transactions arising under
the Loan Documents for advertising, marketing or other similar purposes and (ii) with Borrower’s prior written consent (which
consent will not be unreasonably withheld or delayed) use Borrower’s name, logo or other indicia germane to such party in connection
with such advertising, marketing or other similar purposes. Borrower or any Affiliate of Borrower may, with the prior written consent
of Agent, (x) disclose a general description of transactions arising under the Loan Documents for advertising, marketing or other
similar purposes and (y) use Agent’s name, logo or other indicia germane to such party in connection with such advertising,
marketing or other similar purposes.

 

(c)
Agent and Lenders shall exercise commercially reasonable efforts to maintain in confidence, in accordance with its customary procedures
for handling confidential information and in accordance with safe and sound practices of comparable financial institutions, all non-public
information of Borrower and Indemnitor that Borrower and/or Indemnitor furnishes on a confidential basis (“Confidential Information”)
and not to disclose such Confidential Information to any Person, other than any such Confidential Information that becomes generally
available to the public, individually developed by or obtained by Agent or a Lender from a source other than Borrower or Indemnitor other
than as a result of a disclosure by an Agent or Lender in violation of this Section 12.16; provided, that Agent and its Affiliates
and Lenders and their Affiliates shall have the right to disclose Confidential Information to (and in each case (other than with respect
to clauses (viii), (xi) and (x) below) only in connection with its execution, delivery, administration, assignment or enforcement of
this Agreement):

 

(i)
Borrower, Indemnitor or their Affiliates;

 

(ii)
Agent’s and Lender’s Affiliates;

 

(iii)
Agent’s, Lender’s and their Affiliates,’ or Indemnitor’s, lenders, funding or financing sources;

 

(iv)
Agent’s and Lender’s Affiliates’, and Borrower’s and Indemnitor’s Affiliates’, directors, officers, trustees,
partners, members, managers, employees, agents, advisors, representatives, attorneys, equity owners, dealers, investors, professional
consultants, portfolio management services and/or service providers who, in each case, are obligated, or instructed, to keep such information
confidential;

 

(v)
to credit enhancers and dealers and investors in respect of CP of any Conduit Lender in accordance with the customary practices of such
Conduit Lender for disclosures to credit enhancers, dealers or investors, as the case may be, it being understood that any such disclosure
to dealers or investors will not identify the Borrower or any of its Affiliates by name;

 

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(vi)
any Person that is a potential interest rate hedge provider of a Lender or any Person to whom Agent or a Lender offers or proposes to
offer to sell, assign or transfer the Loan or any part thereof or any interest or participation therein and any such Person’s Program
Support Providers (provided that such Person shall enter into a confidentiality agreement or similar agreement to keep such information
confidential);

 

(vii)
any rating agency;

 

(viii)
any Person that provides statistical analysis and/or information services to Agent or its Affiliates (provided, that such Person shall
enter into a confidentiality agreement or similar agreement to keep such information confidential);

 

(ix)
(a) the Securities and Exchange Commission or to any Person in regard to any other public filing required or potentially required under
Applicable Law (as reasonably determined by Borrower or Indemnitor) by Borrower or any Indemnitor and (b) any Governmental Authority
to which Agent, Lender, Borrower or Indemnitor is subject at the request or pursuant to any requirement of such Governmental Authority,
or in connection with an examination of Agent, Borrower or Indemnitor by any such Governmental Authority; and

 

(x)
any Person (A) to the extent required by Applicable Law, (B) in response to any subpoena or other legal process or informal
investigative demand, (C) in connection with any litigation, or (D) in connection with the actual or potential exercise or
enforcement of any right or remedy under any Loan Document.

 

(d)
The obligations of Agent and its Affiliates under this Section 12.16 shall supersede and replace any other confidentiality obligations
agreed to by Agent or its Affiliates.

 

		12.17	Inconsistencies
with Other Documents

 

In
the event there is a conflict or inconsistency between this Agreement and any other Loan Document, the terms of this Agreement shall
control; provided that any provision of the Collateral Documents which imposes additional burdens on Borrower or any of its Subsidiaries
or further restricts the rights of Borrower or any of its Subsidiaries or gives Agent or Lenders additional rights shall not be deemed
to be in conflict or inconsistent with this Agreement and shall be given full force and effect.

 

		12.18	Patriot
Act

 

Each
Lender that is subject to the requirements of the Patriot Act and Agent (for itself and not on behalf of any Lender) hereby notifies
Borrower that pursuant to the requirements of the Patriot Act, it is required to obtain, verify and record information that identifies
Borrower, which information includes the name and address of Borrower and other information that will allow Agent and each Lender to
identify Borrower in accordance with the Patriot Act. Borrower shall, promptly following a request by Agent or any Lender, provide all
documentation and other information that Agent or such Lender requests in order to comply with its ongoing obligations under applicable
“know your customer” and anti-money laundering rules and regulations, including the Patriot Act.

 

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		12.19	Bankruptcy
Petition

 

Each
of the parties hereto hereby covenants and agrees with respect to each Conduit Lender that, prior to the date which is one year and one
day (or, if longer, any applicable preference period plus one day) after the payment in full of all outstanding indebtedness of
such Conduit Lender (or its related issuer), it will not institute against or join any other Person in instituting against such Conduit
Lender any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar proceeding under the laws
of the United States, any state of the United States or any other jurisdiction. The provisions of this Section shall survive the termination
of this Agreement. Each of the parties hereto (other than the Agent) hereby agrees that it will not institute against, or join any other
Person in instituting against, the Borrower any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other
similar proceeding under the laws of the United States, any state of the United States or any other jurisdictionso long as there shall
not have elapsed one year and one day (or such longer preference period as shall then be in effect) since the payment of all Obligations
hereunder and termination of this Agreement.

 

		12.20	Limitation
on Liability

 

Notwithstanding
anything to the contrary contained in this Agreement, no Conduit Lender shall have any monetary liability or payment obligation hereunder
unless and until such Conduit Lender has received such amounts pursuant to this Agreement (provided the foregoing shall not be interpreted
to relieve any Conduit Lender of any of its non-payment obligations hereunder in its capacity as a Conduit Lender). In addition, the
parties hereto hereby agree that no Conduit Lender shall have any obligation to pay any amounts constituting fees, reimbursement for
expenses or indemnities (collectively, “Expense Claims”) and such Expense Claims shall not constitute a claim (as
defined in Section 101 of Title 11 of the United States Bankruptcy Code or similar law in another jurisdiction) against such Conduit
Lender, unless or until such Conduit Lender has received amounts sufficient to pay such Expense Claims pursuant to this Agreement and
such amounts are not required to pay the outstanding indebtedness of such Conduit Lender. The provisions of this Section shall survive
the termination of this Agreement.

 

	XIII.	AGENT
PROVISIONS; SETTLEMENT

 

		13.1	Agent

 

(a)
Appointment. Each Lender and each Managing Agent hereby designates and appoints Credit Suisse as the administrative agent, payment
agent and collateral agent under this Agreement and the other Loan Documents, and each Lender and each Managing Agent hereby irrevocably
authorizes Credit Suisse, as Agent for such Lender and such Managing Agent, to take such action or to refrain from taking such action
on its behalf under the provisions of this Agreement and the other Loan Documents and to exercise such powers and perform such duties
as are delegated to Agent by the terms of this Agreement and the other Loan Documents, together with such other powers as are reasonably
incidental thereto. Agent agrees to act as such on the conditions contained in this Article XIII. The provisions of this Article
XIII are solely for the benefit of Agent, Managing Agents and Lenders, and Borrower shall have no rights as a third-party beneficiary
of any of the provisions of this Article XIII other than pursuant to Section 13.1(h)(iii) and Section 13.7. Agent may perform
any of its duties hereunder, or under the Loan Documents, by or through its agents, employees or sub-agents.

 

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(b)
Nature of Duties. In performing its functions and duties under this Agreement, Agent is acting solely on behalf of Lenders and
Managing Agents, and its duties are administrative in nature, and does not assume and shall not be deemed to have assumed, any obligation
toward or relationship of agency or trust with or for Lenders and Managing Agents, other than as expressly set forth herein and in the
other Loan Documents, or Borrower. Agent shall have no duties, obligations or responsibilities except those expressly set forth in this
Agreement or in the other Loan Documents. Agent shall not have by reason of this Agreement or any other Loan Document a fiduciary relationship
in respect of any Lender or any Managing Agents. Each Lender and each Managing Agent shall make its own independent investigation of
the financial condition and affairs of Borrower in connection with the extension of credit hereunder and shall make its own appraisal
of the creditworthiness of Borrower. Except for information, notices, reports and other documents expressly required to be furnished
to Lenders and Managing Agents by Agent hereunder or given to Agent for the account of or with copies for Lenders and Managing Agents,
Agent shall have no duty or responsibility, either initially or on a continuing basis, to provide any Lender or any Managing Agent with
any credit or other information with respect thereto, whether coming into its possession before the Closing Date or at any time or times
thereafter. If Agent seeks the consent or approval of any Lenders or any Managing Agents to the taking or refraining from taking any
action hereunder, then Agent shall send prior written notice thereof to each Lender and Managing Agents. Agent shall promptly notify
each Lender and each Managing Agent in writing any time that the applicable percentage of Lenders have instructed Agent to act or refrain
from acting pursuant hereto.

 

(c)
Rights, Exculpation, Etc. Neither Agent nor any of its officers, directors, managers, members, equity owners, employees, attorneys
or agents shall be liable to any Lender or any Managing Agent for any action lawfully taken or omitted by them hereunder or under any
of the other Loan Documents, or in connection herewith or therewith; provided that the foregoing shall not prevent Agent from being liable
to the extent of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction on a final and nonappealable
basis. Notwithstanding the foregoing, Agent shall be obligated on the terms set forth herein for performance of its express duties and
obligations hereunder. Agent shall not be liable for any apportionment or distribution of payments made by it in good faith, and if any
such apportionment or distribution is subsequently determined to have been made in error, the sole recourse of any Lender and any Managing
Agent to whom payment was due but not made shall be to recover from the other Lenders or other Managing Agents any payment in excess
of the amount to which they are determined to be entitled (and such other Lenders and Managing Agents hereby agree promptly to return
to such Lender or such Managing Agent any such erroneous payments received by them). In performing its functions and duties hereunder,
Agent shall exercise the same care which it would in dealing with loans for its own account. Agent shall not be responsible to any Lender
or any Managing Agent for any recitals, statements, representations or warranties made by Borrower herein or for the execution, effectiveness,
genuineness, validity, enforceability, collectability or sufficiency of this Agreement or any of the other Loan Documents or the transactions
contemplated thereby, or for the financial condition of Borrower. Agent shall not be required to make any inquiry concerning either the
performance or observance of any of the terms, provisions, or conditions of this Agreement or any of the Loan Documents or the financial
condition of Borrower, or the existence or possible existence of any Default or Event of Default. Agent may at any time request instructions
from Lenders with respect to any actions or approvals which by the terms of this Agreement or of any of the other Loan Documents Agent
is permitted or required to take or to grant, and Agent shall be absolutely entitled to refrain from taking any action or to withhold
any approval and shall not be under any liability whatsoever to any Person for refraining from taking any action or withholding any approval
under any of the Loan Documents until it shall have received such instructions from the applicable percentage of Lenders. Without limiting
the foregoing, no Lender or any Managing Agent shall have any right of action whatsoever against Agent as a result of Agent acting or
refraining from acting under this Agreement or any of the other Loan Documents in accordance with the instructions of the applicable
percentage of Lenders and, notwithstanding the instructions of Lenders, Agent shall have no obligation to take any action if it, in good
faith, believes that such action exposes Agent or any of its officers, directors, managers, members, equity owners, employees, attorneys
or agents to any personal liability unless Agent receives an indemnification satisfactory to it from Lenders with respect to such action.

 

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(d)
Reliance. Agent shall be entitled to rely upon any written notices, statements, certificates, orders or other documents or any
telephone message or other communication (including any writing, telex, telecopy or telegram) believed by it in good faith to be genuine
and correct and to have been signed, sent or made by the proper Person, and with respect to all matters pertaining to this Agreement
or any of the other Loan Documents and its duties hereunder or thereunder, upon advice of legal counsel, independent accountants and
other experts selected by Agent in its sole discretion.

 

(e)
Indemnification. Each Bank Branch, severally and not (i) jointly or (ii) jointly and severally, agrees to reimburse and indemnify
and hold harmless Agent and its officers, directors, managers, members, equity owners, employees, attorneys and agents (to the extent
not reimbursed by Borrower), ratably according to its respective Pro Rata Share in effect on the date on which indemnification is sought
under this subsection of the total outstanding Obligations (or, if indemnification is sought after the date upon which the Loans shall
have been paid in full, ratably in accordance with its Pro Rata Share immediately prior to such date of the total outstanding Obligations),
from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses, advances,
or disbursements of any kind or nature whatsoever which may be imposed on, incurred by, or asserted against Agent or any of its officers,
directors, managers, members, equity owners, employees, attorneys or agents in any way relating to or arising out of this Agreement or
any of the other Loan Documents or any action taken or omitted by Agent under this Agreement or any of the other Loan Documents; provided,
however, that no Bank Branch shall be liable for the payment of any portion of such liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses, advances or disbursements to the extent resulting from Agent’s gross negligence
or willful misconduct as determined by a court of competent jurisdiction on a final and non-appealable basis. The obligations of Lenders
and Managing Agents under this Article XIII shall survive the payment in full of the Obligations and the termination of this Agreement.

 

(f)
Agent in its Individual Capacity. With respect to the Loans made by it, if any, Credit Suisse and its successors as the Agent
shall have, and may exercise, the same rights and powers under the Loan Documents, and is subject to the same obligations and liabilities,
as and to the extent set forth in the Loan Documents, as any other Lender. The terms “Lenders” or “Requisite Lenders”
or any similar terms shall include Agent in its individual capacity as a Lender. Agent and its Affiliates may accept deposits from, lend
money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of lending, banking, trust,
financial advisory or other business with, Borrower or any Subsidiary or Affiliate of Borrower as if it were not acting as Agent pursuant
hereto.

 

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(g)
Successor Agent.

 

(i)
Resignation. Agent may resign from the performance of all or part of its functions and duties hereunder at any time by giving
at least thirty (30) calendar days’ prior written notice to Borrower, Managing Agents and Lenders. Such resignation shall take
effect upon the acceptance by a successor Agent of appointment pursuant to clause (ii) below or as otherwise provided below.

 

(ii)
Appointment of Successor. Upon any such notice of resignation pursuant to clause (g)(i) of this Section 13.1, Requisite
Lenders shall appoint a successor Agent with the consent of Borrower, which consent shall not be unreasonably withheld, delayed or conditioned
(or required if any Default or Event of Default exists). If a successor Agent shall not have been so appointed within said thirty (30)
calendar day period referenced in clause (g)(i) above, the retiring Agent, upon notice to Borrower, may, on behalf of Lenders and Managing
Agents, appoint a successor Agent with the consent of Borrower, which consent shall not be unreasonably withheld, delayed or conditioned
(or required if any Default or Event of Default exists), who shall serve as Agent until such time as Requisite Lenders appoint a successor
Agent as provided above. If no successor Agent has been appointed pursuant to the foregoing within said thirty (30) calendar day period,
the resignation shall become effective and Requisite Lenders thereafter shall perform all the duties of Agent hereunder, until such time,
if any, as Requisite Lenders appoint a successor Agent as provided above.

 

(iii)
Successor Agent. Upon the acceptance of any appointment as Agent under the Loan Documents by a successor Agent, such successor
Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Agent and, upon
the earlier of such acceptance or the effective date of the retiring Agent’s resignation, the retiring Agent shall be discharged
from its duties and obligations under the Loan Documents, provided that any indemnity rights or other rights in favor of such
retiring Agent shall continue after and survive such resignation and succession. After any retiring Agent’s resignation as Agent
under the Loan Documents, the provisions of this Article XIII shall inure to its benefit as to any actions taken or omitted to
be taken by it while it was Agent under the Loan Documents.

 

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(h)
Collateral Matters.

 

(i)
Collateral. Each Lender and each Managing Agent agrees that any action taken by Agent or the Requisite Lenders (or, where required
by the express terms of this Agreement, a greater number of Lenders) in accordance with the provisions of this Agreement or of the other
Loan Documents relating to the Collateral, and the exercise by Agent or the Requisite Lenders (or, where so required, such greater number
of Lenders) of the powers set forth herein or therein, together with such other powers as are reasonably incidental thereto, shall be
authorized and binding upon all of Lenders, Managing Agents and Agent. Without limiting the generality of the foregoing, Agent shall
have the sole and exclusive right and authority to (i) act as the disbursing and collecting agent for Lenders and Managing Agents with
respect to all payments and collections arising in connection herewith and with the Loan Documents in connection with the Collateral;
(ii) execute and deliver each Loan Document relating to the Collateral and accept delivery of each such agreement delivered by Borrower;
(iii) act as collateral agent for Secured Parties for purposes of the perfection of all security interests and Liens created by such
agreements and all other purposes stated therein; (iv) manage, supervise and otherwise deal with the Collateral; (v) take such action
as is necessary or desirable to maintain the perfection and priority of the security interests and Liens created or purported to be created
by the Loan Documents relating to the Collateral; and (vi) except as may be otherwise specifically restricted by the terms hereof or
of any other Loan Document, exercise all right and remedies given to such Agent and the other Secured Parties with respect to the Collateral
under the Loan Documents relating thereto, Applicable Law or otherwise.

 

(ii)
Release of Collateral. Lenders and Managing Agents hereby irrevocably authorize Agent, at its option and in its discretion, to
release any Lien granted to or held by Agent, for the benefit the of Secured Parties, upon any Collateral covered by the Loan Documents
(A) upon termination of this Agreement, the termination of the Revolving Loan Amount and the indefeasible payment and satisfaction in
full in cash of all Obligations (other than contingent indemnification Obligations to the extent no claim giving rise thereto has been
asserted); (B) constituting Collateral being sold or disposed of if Borrower certifies to Agent that the sale or disposition is made
in compliance with the provisions of the Loan Documents (and Agent may rely conclusively on any such certificate, without further inquiry);
or (C) constituting Collateral leased to Borrower under a lease which has expired or been terminated in a transaction permitted under
this Agreement or is about to expire and which has not been, and is not intended by Borrower to be, renewed or extended.

 

(iii)
Confirmation of Authority; Execution of Releases. Without in any manner limiting Agent’s authority to act without any specific
or further authorization or consent by Lenders or Managing Agents (as set forth in Section 13.1(h)(i) and (ii)), each Lender
and each Managing Agent agrees to confirm in writing, upon request by Borrower, the authority to release any property covered by this
Agreement or the Loan Documents conferred upon Agent under Section 13.1(h)(ii). So long as no Event of Default exists, upon
receipt by Agent of confirmation from the requisite percentage of Lenders of its authority to release any particular item or types of
Collateral covered by this Agreement or the other Loan Documents, and upon at least five (5) Business Days’ prior written request
by Borrower, Agent shall (and hereby is irrevocably authorized by Lenders to) execute such documents as may be necessary to evidence
the release of the Liens granted to Agent, for the benefit itself and the other Secured Parties, herein or pursuant hereto upon such
Collateral; provided, however, that (A) Agent shall not be required to execute any such document on terms which, in Agent’s
opinion, would expose Agent to liability or create any obligation or entail any consequence other than the release of such Liens without
recourse or warranty (other than that such Collateral is free and clear, on the date of such delivery, of any and all Liens arising from
such Person’s own acts), and (B) such release shall not in any manner discharge, affect or impair the Obligations or any Liens
upon (or obligations of Borrower or any Subsidiary of Borrower in respect of) all interests retained by Borrower or any Subsidiary of
Borrower, including the proceeds of any sale, all of which shall continue to constitute part of the Collateral covered by this Agreement
or the Loan Documents.

 

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(iv)
Absence of Duty. Agent shall have no obligation whatsoever to any Lender, any Managing Agent or any other Person to assure that
the Collateral covered by this Agreement or the other Loan Documents exists or is owned by Borrower or is cared for, protected or insured
or has been encumbered or that the Liens granted to Agent, on behalf of the Secured Parties, herein or pursuant hereto have been properly
or sufficiently or lawfully created, perfected, protected, enforced or maintained or are entitled to any particular priority, or to exercise
at all or in any particular manner or under any duty of care, disclosure, or fidelity, or to continue exercising, any of the rights,
authorities and powers granted or available to Agent in this Section 13.1(h) or in any of the Loan Documents; it being understood
and agreed that in respect of the Collateral covered by this Agreement or the other Loan Documents, or any act, omission or event related
thereto, Agent may act in any manner it may deem appropriate, in its discretion, given Agent’s own interest in Collateral covered
by this Agreement or the Loan Documents as one of Lenders, Managing Agents and Agent shall have no duty or liability whatsoever to any
of the other Secured Parties; provided, that Agent shall exercise the same care which it would in dealing with loans for its own
account.

 

(i)
Agency for Perfection. Each Lender and each Managing Agent hereby appoints Agent as agent for the purpose of perfecting its security
interest, on behalf of all Secured Parties, in Collateral which, in accordance with Article 9 of the UCC in any applicable jurisdiction,
can be perfected only by possession. Should any Secured Party (other than Agent) obtain possession of any such Collateral, such Secured
Party shall hold such Collateral for purposes of perfecting a security interest therein for the benefit of the Secured Parties, notify
Agent thereof and, promptly upon Agent’s request therefor, deliver such Collateral to Agent or otherwise act in respect thereof
in accordance with Agent’s instructions.

 

(j)
Exercise of Remedies. Except as set forth in Section 13.3, each Lender and each Managing Agent agrees that it will not
have any right individually to enforce or seek to enforce this Agreement or any other Loan Document or to realize upon any Collateral
security for the Loans or other Obligations; it being understood and agreed that such rights and remedies may be exercised only by Agent
in accordance with the terms of the Loan Documents.

 

		13.2	Lender
Consent

 

(a)
In the event Agent requests the consent of a Lender and does not receive a written denial thereof within five (5) Business Days after
such Lender’s receipt of such request, then such Lender will be deemed to have given such consent so long as such request contained
a notice stating that such failure to respond within five (5) Business Days would be deemed to be a consent by such Lender.

 

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(b)
In the event Agent requests the consent of a Lender in a situation where such Lender’s consent would be required and such Lender’s
consent (when combined with the consent of other Lenders would cause the consent threshold of the Requisite Lenders to be met) and such
consent is denied, then Agent may, at its option, require such Lender to assign its interest in the Loans and Revolving Loan Amount to
Agent for a price equal to the then outstanding principal amount thereof due to such Lender and each other Lender in such Lender’s
Lender Group plus accrued and unpaid interest and fees due to such Lender and each other Lender in such Lender’s Lender Group,
which principal, interest and fees shall be paid to the Lenders in such Lender Group when collected from Borrower. In the event that
Agent elects to require any Lender to assign its interest to Agent pursuant to this Section 13.2 Agent will so notify such
Lender and such Lender’s Managing Agent in writing within forty-five (45) days following such Lender’s denial, and such Lender
and the other Lenders in such Lender’s Lender Group will assign its interest to Agent no later than five (5) calendar days following
receipt of such notice.

 

		13.3	Sharing
of Payments

 

Any
Lender that has exercised its right to set-off pursuant to Section 12.15 or otherwise has received any payment on account of the
Obligations shall, to the extent the amount of any such set off or payment exceeds its Pro Rata Share of payments obtained by all of
the Lenders on account of such Obligations, purchase for cash (and the other Lenders or holders of the Loans shall sell) participations
in each such other Lender’s or holder’s Pro Rata Share of Obligations as would be necessary to cause such Lender to share
such excess with each other Lenders or holders in accordance with their respective Pro Rata Shares; provided, however,
that if all or any portion of such excess payment or benefits is thereafter recovered from such purchasing Lender, such purchase shall
be rescinded, and the purchase price and benefits returned, to the extent of such recovery. Borrower agrees, to the fullest extent permitted
by law, that (y) any Lender or holder may exercise its right to set-off with respect to amounts in excess of its Pro Rata Share of the
Obligations and may sell participations in such excess to other Lenders and holders, and (z) any Lender so purchasing a participation
in the Loans made or other Obligations held by other Lenders may exercise all rights of set-off, bankers’ lien, counterclaim or
similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans and other Obligations in the
amount of such participation.

 

		13.4	Reserved.

 

		13.5	Payments;
and Information

 

(a)
Reserved.

 

(b)
Lenders’ Pro Rata Share.

 

(i)
Unless Agent has been notified by a Bank Branch prior to any proposed funding date of such Bank Branch’s intention not to fund
its Pro Rata Share of a Loan, Agent may assume that such Bank Branch or its related Conduit Lender will make such amount available to
Agent on the proposed funding date; provided, however, nothing contained in this Agreement shall obligate a Lender to make
a Revolving Advance at any time including without limitation if any Default or Event of Default exists. If such amount is not, in fact,
made available to Agent by such Bank Branch or its related Conduit Lender when contemplated, Agent will be entitled to recover such amount
on demand from such Bank Branch without set-off, counterclaim or deduction of any kind.

 

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(ii)
Nothing contained in this Section 13.5(b) will be deemed to prejudice any rights Agent or Borrower may have against such Bank
Branch as a result of any default by such Bank Branch under this Agreement.

 

(c)
Return of Payments.

 

(iii)
If Agent pays an amount to a Lender under this Agreement in the belief or expectation that a related payment has been or will be received
by Agent from Borrower and such related payment is not received by Agent, then Agent will be entitled to recover such amount from such
Lender, or, if such Lender is a Conduit Lender, such Conduit Lender’s related Bank Branch without set-off, counterclaim or deduction
of any kind.

 

(iv)
If Agent determines at any time that any amount received by Agent under this Agreement must be returned to Borrower or paid to any other
Person pursuant to any Debtor Relief Law or otherwise, then, notwithstanding any other term or condition of this Agreement, Agent will
not be required to distribute any portion thereof to any Lender. In addition, each Bank Branch will repay to Agent on demand any portion
of such amount that Agent has distributed to such Bank Branch and such Bank Branch’s related Conduit Lender, together with interest
at such rate, if any, as Agent is required to pay to Borrower or such other Person, without set-off, counterclaim or deduction of any
kind.

 

		13.6	Dissemination
of Information

 

Upon
request by a Lender or a Managing Agent, Agent will distribute promptly to such Lender or Managing Agent, as applicable, unless previously
provided by Borrower to such Lender or Managing Agent, as applicable, copies of all notices, schedules, reports, projections, financial
statements, agreements and other material and information, including financial and reporting information received from Borrower or generated
by a third party (and excluding only internal information generated by Credit Suisse for its own use as a Lender or as Agent and any
attorney-client privileged communications or work product), as provided for in this Agreement and the other Loan Documents as received
by Agent. Agent shall not be liable to any of the Lenders or Managing Agents for any failure to comply with its obligations under this
Section 13.6, except to the extent that such failure is attributed to Agent’s gross negligence or willful misconduct
and results in demonstrable damages to such Lender or Managing Agent as determined, in each case, by a court of competent jurisdiction
on a final and non-appealable basis.

 

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		13.7	Non-Funding
Lender.

 

The
failure of any funding Lender to make any Loan (the “Non-Funding Lender”) on the date specified therefor shall not
relieve any other Bank Branch (each such other Lender, an “Other Lender”) of its opportunity to make such Loan, but
neither any Other Lender nor Agent shall be responsible for the failure of any Non-Funding Lender to make a Loan or make any other payment
required hereunder. Notwithstanding anything set forth herein to the contrary, a Non-Funding Lender shall not have any voting or consent
rights under or with respect to any Loan Document or constitute a “Lender” for any voting or consent rights under or with
respect to any Loan Document. At Borrower’s request, Agent or a Person acceptable to Agent shall have the right with Agent’s
consent and in Agent’s sole discretion (but shall have no obligation) to purchase from any Non-Funding Lender, and each Non-Funding
Lender agrees that it shall, at Agent’s request, sell and assign to Agent or such Person, all of the rights of that Non-Funding
Lender to make Revolving Advances hereunder for an amount equal to the principal balance of all Loans held by such Non-Funding Lender
and each other Lender in such Non-Funding Lender’s Lender Group and all accrued interest and fees with respect thereto through
the date of sale, such purchase and sale to be consummated pursuant to an executed Lender Addition Agreement.

 

		13.8	Managing
Agents

 

(a)
Appointment. Each Lender hereby designates and appoints Credit Suisse AG, New York Branch as its related Managing Agent under
this Agreement and the other Loan Documents, and each Lender hereby irrevocably authorizes Credit Suisse AG, New York Branch, as Managing
Agent for such Lender’s Lender Group, to take such action or to refrain from taking such action on its behalf under the provisions
of this Agreement and the other Loan Documents and to exercise such powers and perform such duties as are delegated to a Managing Agent
by the terms of this Agreement and the other Loan Documents, together with such other powers as are reasonably incidental thereto. Each
Managing Agent agrees to act as such on the conditions contained in this Article XIII. Each Managing Agent may perform any of
its duties hereunder, or under the Loan Documents, by or through its agents, employees or sub-agents.

 

(b)
Nature of Duties. In performing its functions and duties under this Agreement, each Managing Agent is acting solely on behalf
of the Lenders in such Managing Agent’s Lender Group, and its duties are administrative in nature, and does not assume and shall
not be deemed to have assumed, any obligation toward or relationship of agency or trust with or for Lenders, other than as expressly
set forth herein and in the other Loan Documents, or Borrower. Each Managing Agent shall have no duties, obligations or responsibilities
except those expressly set forth in this Agreement or in the other Loan Documents. Each Managing Agent shall not have by reason of this
Agreement or any other Loan Document a fiduciary relationship in respect of any Lender. Each Lender shall make its own independent investigation
of the financial condition and affairs of Borrower in connection with the extension of credit hereunder and shall make its own appraisal
of the creditworthiness of Borrower. Except for information, notices, reports and other documents expressly required to be furnished
to Lenders in a Managing Agent’s Lender Group by such Managing Agent hereunder or given to such Managing Agent for the account
of or with copies for Lenders in such Managing Agent’s Lender Group, no Managing Agent shall have any duty or responsibility, either
initially or on a continuing basis, to provide any Lender with any credit or other information with respect thereto, whether coming into
its possession before the Closing Date or at any time or times thereafter. If any Managing Agent seeks the consent or approval of any
Lenders in such Managing Agent’s Lender Group to the taking or refraining from taking any action hereunder, then such Managing
Agent shall send prior written notice thereof to each Lender in such Managing Agent’s Lender Group. Each Managing Agent shall promptly
notify each Lender in such Managing Agent’s Lender Group in writing any time that the applicable percentage of Lenders in such
Managing Agent’s Lender Group have instructed Agent to act or refrain from acting pursuant hereto.

 

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(c)
Rights, Exculpation, Etc. No Managing Agent or any of its officers, directors, managers, members, equity owners, employees,
attorneys or agents shall be liable to any Lender for any action lawfully taken or omitted by them hereunder or under any of the other
Loan Documents, or in connection herewith or therewith; provided that the foregoing shall not prevent a Managing Agent from being liable
to the extent of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction on a final and nonappealable
basis. Notwithstanding the foregoing, each Managing Agent shall be obligated on the terms set forth herein for performance of its express
duties and obligations hereunder. No Managing Agent shall be liable for any apportionment or distribution of payments made by it in good
faith, and if any such apportionment or distribution is subsequently determined to have been made in error, the sole recourse of any
Lender to whom payment was due but not made shall be to recover from the other Lenders any payment in excess of the amount to which they
are determined to be entitled (and such other Lenders hereby agree promptly to return to such Lender any such erroneous payments received
by them). In performing its functions and duties hereunder, each Managing Agent shall exercise the same care which it would in dealing
with loans for its own account. No Managing Agent shall be responsible to any Lender for any recitals, statements, representations or
warranties made by Borrower herein or for the execution, effectiveness, genuineness, validity, enforceability, collectability or sufficiency
of this Agreement or any of the other Loan Documents or the transactions contemplated thereby, or for the financial condition of Borrower.
No Managing Agent shall be required to make any inquiry concerning either the performance or observance of any of the terms, provisions,
or conditions of this Agreement or any of the Loan Documents or the financial condition of Borrower, or the existence or possible existence
of any Default or Event of Default. Each Managing Agent may at any time request instructions from Lenders in such Managing Agent’s
Lender Group with respect to any actions or approvals which by the terms of this Agreement or of any of the other Loan Documents such
Managing Agent is permitted or required to take or to grant, and Managing Agent shall be absolutely entitled to refrain from taking any
action or to withhold any approval and shall not be under any liability whatsoever to any Person for refraining from taking any action
or withholding any approval under any of the Loan Documents until it shall have received such instructions from the applicable percentage
of Lenders. Without limiting the foregoing, no Lender shall have any right of action whatsoever against any Managing Agent as a result
of such Managing Agent acting or refraining from acting under this Agreement or any of the other Loan Documents in accordance with the
instructions of the applicable percentage of Lenders in such Managing Agent’s Lender Group and, notwithstanding the instructions
of such Lenders, no Managing Agent shall have any obligation to take any action if it, in good faith, believes that such action exposes
such Managing Agent or any of its officers, directors, managers, members, equity owners, employees, attorneys or agents to any personal
liability unless such Managing Agent receives an indemnification satisfactory to it from Lenders in such Managing Agent’s Lender
Group with respect to such action.

 

(d)
Reliance. Each Managing Agent shall be entitled to rely upon any written notices, statements, certificates, orders or other documents
or any telephone message or other communication (including any writing, telex, telecopy or telegram) believed by it in good faith to
be genuine and correct and to have been signed, sent or made by the proper Person, and with respect to all matters pertaining to this
Agreement or any of the other Loan Documents and its duties hereunder or thereunder, upon advice of legal counsel, independent accountants
and other experts selected by such Managing Agent in its sole discretion.

 

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(e)
Indemnification. Each Bank Branch in a Managing Agent’s Lender Group, severally and not (i) jointly or (ii) jointly and
severally, agrees to reimburse and indemnify and hold harmless such Managing Agent and its officers, directors, managers, members, equity
owners, employees, attorneys and agents (to the extent not reimbursed by Borrower), ratably according to their respective pro rata share
in effect on the date on which indemnification is sought under this subsection of the total outstanding Obligations of such Bank Branch
and its related Conduit Lender, if any (or, if indemnification is sought after the date upon which the Loans shall have been paid in
full, ratably in accordance with their pro rata share immediately prior to such date of the total outstanding Obligations of such Bank
Branch and its related Conduit Lender, if any), from and against any and all liabilities, obligations, losses, damages, penalties, actions,
judgments, suits, costs, expenses, advances, or disbursements of any kind or nature whatsoever which may be imposed on, incurred by,
or asserted against such Managing Agent or any of its officers, directors, managers, members, equity owners, employees, attorneys or
agents in any way relating to or arising out of this Agreement or any of the other Loan Documents or any action taken or omitted by such
Managing Agent under this Agreement or any of the other Loan Documents; provided, however, that no Bank Branch shall be
liable for the payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses, advances or disbursements to the extent resulting from such Managing Agent’s gross negligence or willful misconduct as
determined by a court of competent jurisdiction on a final and non-appealable basis. The obligations of Bank Branches under this Article
XIII shall survive the payment in full of the Obligations and the termination of this Agreement.

 

(f)
Managing Agent in its Individual Capacity. With respect to the Loans made by it, if any, Credit Suisse AG, New York Branch and
its successors as a Managing Agent shall have, and may exercise, the same rights and powers under the Loan Documents, and is subject
to the same obligations and liabilities, as and to the extent set forth in the Loan Documents, as any other Lender. The terms “Lenders”
or ” “Requisite Lenders” or any similar terms shall include each Managing Agent in its individual capacity as a Lender.
Each Managing Agent and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory
capacity for and generally engage in any kind of lending, banking, trust, financial advisory or other business with, Borrower or any
Subsidiary or Affiliate of Borrower as if it were not acting as a Managing Agent pursuant hereto.

 

(g)
Successor Managing Agent.

 

(i)
Resignation. Each Managing Agent may resign from the performance of all or part of its functions and duties hereunder at any time
by giving at least thirty (30) calendar days’ prior written notice to Borrower and Lenders in such Managing Agent’s Lender
Group. Such resignation shall take effect upon the acceptance by a successor Managing Agent for such Lender Group of appointment pursuant
to clause (ii) below or as otherwise provided below.

 

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(ii)
Appointment of Successor. Upon any such notice of resignation pursuant to clause (g)(i) of this Section 13.8, the Bank
Branches in the applicable Managing Agent’s Lender Group shall appoint a successor Managing Agent for such Lender Group with the
consent of Borrower, which consent shall not be unreasonably withheld, delayed or conditioned (or required if any Default or Event of
Default exists). If a successor Managing Agent shall not have been so appointed for the applicable Lender Group within said thirty (30)
calendar day period referenced in clause (g)(i) above, the retiring Managing Agent, upon notice to Borrower, may, on behalf of Lenders
in such Managing Agent’s Lender Group, appoint a successor Managing Agent with the consent of Borrower, which consent shall not
be unreasonably withheld, delayed or conditioned (or required if any Default or Event of Default exists), who shall serve as Managing
Agent for such Lender Group until such time as Bank Branches for such Lender Group appoint a successor Managing Agent as provided above.
If no successor Managing Agent has been appointed pursuant to the foregoing within said thirty (30) calendar day period, the resignation
shall become effective and Bank Branches in such Lender Group thereafter shall perform all the duties of Managing Agent for such Lender
Group hereunder, until such time, if any, as Bank Branches for such Lender Group appoint a successor Managing Agent as provided above.

 

(h)
Successor Managing Agent. Upon the acceptance of any appointment as a Managing Agent under the Loan Documents by a successor Managing
Agent, such successor Managing Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties
of the retiring Managing Agent and, upon the earlier of such acceptance or the effective date of the retiring Managing Agent’s
resignation, the retiring Managing Agent shall be discharged from its duties and obligations under the Loan Documents, provided
that any indemnity rights or other rights in favor of such retiring Managing Agent shall continue after and survive such resignation
and succession. After any retiring Managing Agent’s resignation as Managing Agent under the Loan Documents, the provisions of this
Article XIII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was a Managing Agent under
the Loan Documents.

 

	XIV.	TAXES

 

		14.1	Taxes

 

(a)
Payments Free of Taxes. Any and all payments by or on account of any obligation of Borrower under any other Loan Document shall
be made without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as determined in
the good faith discretion of an applicable withholding agent) requires the deduction or withholding of any Tax from any such payment
by a withholding agent, then the applicable withholding agent shall be entitled to make such deduction or withholding and shall timely
pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such Tax is
an Indemnified Tax, then the sum payable by Borrower shall be increased as necessary so that after such deduction or withholding has
been made (including such deductions and withholdings for Indemnified Taxes applicable to additional sums payable under this Section
14.1(a)) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding
been made.

 

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(b)
Payment of Other Taxes by Borrower. Borrower shall pay to the relevant Governmental Authority in accordance with applicable law,
or at the option of Agent timely reimburse it for the payment of, any Other Taxes.

 

(c)
Indemnification by Borrower. Borrower shall indemnify each Recipient, within fifteen (15) days after demand therefor, for the
full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this
Section 14.1(c)) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient and
any reasonable out-of-pocket expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly
or legally imposed or asserted by the relevant Governmental Authority; so long as such amounts have accrued on or after the day which
is one hundred eighty (180) days prior to the date on which Agent or such Lender first made demand therefore. A certificate as to the
amount of such payment or liability delivered to Borrower by a Lender (with a copy to Agent), or by Agent on its own behalf or on behalf
of a Lender, shall be conclusive absent demonstrable error.

 

(d)
Evidence of Payments. As soon as practicable after any payment of Taxes by Borrower to a Governmental Authority pursuant to this
Section 14.1, Borrower shall deliver to Agent the original or a certified copy of a receipt issued by such Governmental Authority
evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to Agent.

 

(e)
Status of Agent and Lenders.

 

(i)
Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document
shall deliver to Borrower and Agent, at the time or times reasonably requested by Borrower or Agent, such properly completed and executed
documentation reasonably requested by Borrower or Agent as will permit such payments to be made without withholding or at a reduced rate
of withholding. In addition, any Lender, if reasonably requested by Borrower or Agent, shall deliver such other documentation prescribed
by applicable law or reasonably requested by Borrower or Agent as will enable Borrower or Agent to determine whether or not such Lender
is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two
sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Section 14.1(e)(ii)(A),
(ii)(B), (ii)(D), (iii), and (iv) below) shall not be required if in Lender’s reasonable judgment such completion, execution or
submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial
position of such Lender.

 

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(ii)
Without limiting the generality of the foregoing,

 

(A)
any Lender that is a U.S. Person shall deliver to Borrower and Agent on or prior to the date on which such Lender becomes a Lender under
this Agreement (and from time to time thereafter upon the reasonable request of Borrower or Agent), executed originals of IRS Form W-9
certifying that such Lender is exempt from U.S. federal backup withholding tax;

 

(B)
any Foreign Lender shall to the extent it is legally entitled to do so deliver to Borrower and Agent (in such number of copies as shall
be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time
to time thereafter upon the reasonable request of Borrower or Agent), whichever of the following is applicable:

 

(1)
in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect
to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN-E establishing an exemption from, or reduction
of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other
applicable payments under any Loan Document, IRS Form W-8BEN-E establishing an exemption from, or reduction of, U.S. federal withholding
Tax pursuant to the “business profits” or “other income” article of such tax treaty;

 

(2)
executed originals of IRS Form W-8ECI;

 

(3)
in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a
certificate to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code,
a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, a “controlled foreign
corporation” described in Section 881(c)(3)(C) of the Code, or acting as a “conduit entity” within the meaning of Treasury
Regulation Section 1.881-3 with respect to amount under any Loan Document (a “U.S. Tax Compliance Certificate”)
and (y) executed originals of IRS Form W-8BEN-E; or

 

(4)
to the extent a Foreign Lender is not the beneficial owner, executed copies of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form
W-8BEN, W-8BEN-E a U.S. Tax Compliance Certificate, IRS Form W-9, and/or other certification documents from each beneficial owner, as
applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are
claiming the portfolio interest exception, such Foreign Lender may provide a U.S. Tax Compliance Certificate on behalf of each such direct
and indirect partner;

 

(C)
any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to Borrower and Agent (in such number of copies as shall
be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time
to time thereafter upon the reasonable request of Borrower or Agent), executed copies of any other form prescribed by applicable law
as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary
documentation as may be prescribed by applicable law to permit Borrower or Agent to determine the withholding or deduction required to
be made; and

 

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(D)
if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender
were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of
the Code, as applicable), such Lender shall deliver to Borrower and Agent at the time or times prescribed by law and at such time or
times reasonably requested by Borrower or Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i)
of the Code) and such additional documentation reasonably requested by Borrower or Agent as may be necessary for Borrower and Agent to
comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA
or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall
include any amendments made to FATCA after the date of this Agreement.

 

(iii)
If Agent is a U.S. Person, it shall deliver to Borrower on or prior to the date on which it becomes Agent under this Agreement two duly
completed copies of IRS Form W-9. If Agent is not a U.S. Person, it shall provide to Borrower on or prior to the date on which it becomes
Agent under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower) (A) two executed copies of
Form W-8ECI with respect to any amounts payable to Agent for its own account, and (B) two executed copies of Form W-8IMY with respect
to any amounts payable to Agent for the account of others, certifying that it is a “U.S. branch” and that the payments it
receives for the account of others are not effectively connected with the conduct of its trade or business within the United States and
that it is using such form as evidence of its agreement with Borrower to be treated as a United States person with respect to such payments
(and Borrower and Agent agree to so treat Agent as a United States Person with respect to such payments as contemplated by Treasury Regulation
Section 1.1441-1(b)(2)(iv)).

 

(iv)
Each Person that shall become a Participant pursuant to Section 12.2 shall, on or before the date of the effectiveness of the
related transfer, be required to provide all of the forms, certifications and statements required pursuant to this Section 14.1(e),
provided that the obligations of such Participant, pursuant to this Section 14.1(e) shall be determined as if such Participant
were a Lender except that such Participant shall furnish all such required forms, certifications and statements to the Agent.

 

Each
Agent and Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect,
it shall update such form or certification or promptly notify Borrower and Agent in writing of its legal inability to do so.

 

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(f)
Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that it has received a
refund of any Taxes as to which it has been indemnified pursuant to this Section 14.1 (including by the payment of additional
amounts pursuant to this Section 14.1), it shall pay to the indemnifying party an amount equal to such refund (but only to the
extent of indemnity payments made under this Section 14.1 with respect to the Taxes giving rise to such refund), net of all out-of-pocket
expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental
Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified
party the amount paid over pursuant to this paragraph (f) (plus any penalties, interest or other charges imposed by the relevant Governmental
Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding
anything to the contrary in this paragraph (f), in no event will the indemnified party be required to pay any amount to an indemnifying
party pursuant to this paragraph (f) the payment of which would place the indemnified party in a less favorable net after-Tax position
than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted,
withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This
paragraph shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating
to its Taxes that it deems confidential) to the indemnifying party or any other Person.

 

(g)
Notwithstanding anything herein to the contrary, if Agent is required by law to deduct or withhold any Taxes from or in respect of any
sum payable to any Lender by Borrower or Agent, the Agent shall not be required to make any gross-up payment to or in respect of such
Lender, except to the extent that a corresponding gross-up payment is actually received by Agent from Borrower.

 

(h)
Survival. Each party’s obligations under this Section 14.1 shall survive the resignation or replacement of Agent
or any assignment of rights by, or the replacement of, a Lender, the termination of this Agreement and the repayment, satisfaction or
discharge of all Obligations under any Loan Document.

 

[REMAINDER
OF PAGE INTENTIONALLY BLANK; SIGNATURE PAGES FOLLOW]

 

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IN
WITNESS WHEREOF, each of the parties has duly executed this Loan and Security Agreement as of the date first written above.

 

	 	BORROWER:
	 	 	 
	 	ROF SPV I, LLC, 
	 	a Delaware limited liability company
	 	 	 
	 	By:	/s/ Scott
    Raymer
	 	Name: 	Scott Raymer
	 	Title:	President

 

	 	Address:
	 	 
	 	1160 North Town Center Drive
	 	Suite 130 Las Vegas, Nevada 89144
	 	Attention: Mr. Scott Raymer
	 	Email: scott@rumbleon.com

 

    [RumbleOn] Loan Agreement
 
 

     

    

 

	 	AGENT AND MANAGING AGENT
	 	CREDIT SUISSE
    AG, NEW YORK BRANCH
	 	 	 
	 	By:	/s/
    Patrick Duggan 
	 	Name:	Patrick Duggan 
	 	Title:	Authorized Signatory 

 

	 	By:	/s/
    Patrick J. Hart 
	 	Name:	Patrick J. Hart 
	 	Title:	Authorized Signatory 

 

	 	Address:
	 	11 Madison Avenue, 4th Floor
	 	New York, NY 10010
	 	Attention: Ken Aiani
	 	Email: kenneth.aiani@credit-suisse.com
	 	With a copy to:

 

	 	11 Madison Avenue, 4th
    Floor
	 	New York, NY 10010
	 	Attention: Conduit Monitoring
	 	Email: list.afconduitreports@credit-suisse.com
	 	abcp.monitoring@credit-suisse.com

 

	 	With a copy to:
	 	 
	 	Sector Financial Inc.
	 	11 Madison Avenue, 4th Floor
	 	New York, NY 10010
	 	Attention: Alan Leland
	 	Email: Alan.Leland@sectorfinancial.com

 

	 	With a copy to:
	 	 
	 	Holland & Knight LLP
	 	200 Crescent Court, Suite 1600
	 	Dallas, Texas 75201
	 	Attn: Stephen Ratliff, Esq.
	 	Email: Stephen.Ratliff@hklaw.com

 

    [RumbleOn] Loan Agreement
 
 

     

    

 

	 	LENDER:
	 	 	 
	 	CREDIT SUISSE
    AG, CAYMAN ISLANDS BRANCH
	 	 	 
	 	By: 	/s/
    Patrick Duggan
	 	Name: 	Patrick Duggan 
	 	Title:	Authorized Signatory

 

	 	By:	/s/
    Patrick J. Hart
	 	Name: 	Patrick J. Hart
	 	Title:	Authorized Signatory

 

	 	Address:
	 	11 Madison Avenue, 4th Floor
	 	New York, NY 10010
	 	Attention: Ken Aiani
	 	Email: kenneth.aiani@credit-suisse.com

 

	 	With a copy to:
	 	 
	 	11 Madison Avenue, 4th Floor
	 	New York, NY 10010
	 	Attention: Conduit Monitoring
	 	Email: list.afconduitreports@credit-suisse.com;
	 	abcp.monitoring@credit-suisse.com

 

    [RumbleOn] Loan Agreement
 
 

     

    

 

	 	CONDUIT LENDER:
	 	 
	 	GIFS CAPITAL
    COMPANY, LLC
	 	 	 
	 	By:	/s/
    Carey D. Fear 
	 	Name :	Carey D. Fear
	 	Title:	Manager

 

	 	Address:
	 	227 West Monroe Street, Suite 4900
	 	Chicago, IL 60606
	 	Attention: Operations
	 	Email: chioperations@guggenheimpartners.com

 

 

 

[RumbleOn]
Loan AgreementExhibit
10.2

 

EXECUTION
VERSION

 

 

 

RUMBLEON
FINANCE, LLC,

 

as
Seller

 

and

 

ROF
SPV I, LLC,

 

as
Purchaser

 

 

PURCHASE
AND SALE AGREEMENT

 

Dated
February 4, 2022 

 

 

 

Purchase
and Sale Agreement

 

     

     

    

 

This
PURCHASE AND SALE AGREEMENT, dated as of February 4, 2022, by and between RUMBLEON FINANCE,
LLC, a Nevada limited liability company (the “Seller”),
and ROF SPV I, LLC, a Delaware limited liability company (the “Purchaser”).

 

W
I T N E S S E T H;

 

WHEREAS,
the Purchaser desires to purchase from the Seller from time to time certain Receivables and the related rights and assets owned by the
Seller; and

 

WHEREAS,
the Seller desires to sell to the Purchaser from time to time certain Receivables and the related rights and assets owned by the Seller.

 

NOW,
THEREFORE, it is hereby agreed as follows:

 

ARTICLE
I

DEFINITIONS

 

Section
1.1. Definitions. The following words and phrases shall have the following meanings:

 

“Account
Debtor” shall have the meaning specified in the Loan Agreement.

 

“Addition
Date” shall have the meaning specified in Section 2.1(b).

 

“Additional
Receivable” shall have the meaning specified in Section 2.1(b).

 

“Adverse
Claim” shall mean any valid claim of ownership or any lien, other than any lien created pursuant to or permitted by the
Transaction Documents.

 

“Affiliate”
shall have the meaning specified in the Loan Agreement.

 

“Agent”
shall mean Credit Suisse AG, New York Branch, in its capacity as administrative, payment and collateral agent pursuant to the Loan Agreement.

 

“Agreement”
shall mean this Purchase and Sale Agreement and all amendments hereof and supplements hereto.

 

“Assigned
Agreements” shall mean all Portfolio Documents relating to the Purchased Assets, and all other instruments, certificates,
documents and agreements executed and/or delivered in connection therewith, relating to any Purchased Asset, including, without limitation,
all data necessary or reasonably useful in the servicing of Receivables purchased by Purchaser.

 

“Business
Day” shall have the meaning specified in the Loan Agreement.

 

“Closing
Date” shall mean February 4, 2022.

 

“Code”
shall have the meaning specified in the Loan Agreement.

 

 

 

Purchase and Sale Agreement

 

     

     

    

 

“Collections”
shall mean, with respect to any Receivable, all Scheduled Payments (as defined in the Loan Agreement), prepayments (both voluntary and
mandatory) and other amounts received of any and every description payable to the holder of such Receivable by or on behalf of the related
Account Debtor pursuant thereto or the related Portfolio Documents.

 

“Conveyance”
shall mean any sale, transfer, assignment or conveyance to the Purchaser of Purchased Assets pursuant to this Agreement or any Supplement.

 

“Conveyance
Documents” shall mean this Agreement, each Supplement and any other document or instrument delivered pursuant hereto and
thereto.

 

“Electronic
Transmission” shall mean each document, instruction, authorization, file, information and any other communication transmitted,
posted or otherwise made or communicated by electronic mail or facsimile, or otherwise to or from an electronic system or other equivalent
service.

 

“Eligible
Receivable” shall mean any Receivable that is a Purchased Asset hereunder that meets, as of any date, all of the eligibility
requirements of an “Eligible Receivable” as defined in the Loan Agreement.

 

“ERISA
Affiliate” shall mean any trade or business (whether or not incorporated) under common control with the Seller within
the meaning of Sections 414(b) or (c) of the Code (and Sections 414(m) or (o) of the Code for purposes of provisions relating to Sections
412, 430 or 431 of the Code).

 

“GAAP”
shall have the meaning specified in the Loan Agreement.

 

“Governmental
Authority” shall have the meaning specified in the Loan Agreement.

 

“Indemnified
Person” shall have the meaning specified in Section 6.1.

 

“Initial
Receivables” shall mean the Receivables set forth in Schedule I attached hereto.

 

“Initial
Purchased Assets” shall have the meaning set forth in Section 2.1(a).

 

“Loan
Agreement” shall mean that certain Loan and Security Agreement dated as of the date hereof by and among the Purchaser,
the Agent and the Lenders party thereto, as amended, restated or otherwise modified from time to time.

 

“Material
Adverse Effect” means any development, event, condition, obligation, liability or circumstance or set of events, conditions,
obligations, liabilities or circumstances or any change(s) which (i) has been or reasonably could be expected to be material and adverse
to the value of any of the Purchased Assets or to the business, operations, properties, assets, liabilities or condition (financial or
otherwise) of Seller; or (ii) has materially impaired or reasonably could be expected to materially impair the ability of Seller to perform
any of its obligations, or to consummate the transactions, under this Agreement.

 

 

 

Purchase and Sale Agreement

 

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“Person”
shall have the meaning specified in the Loan Agreement.

 

“Portfolio
Documents” shall have the meaning specified in the Loan Agreement.

 

“Purchased
Assets” shall mean all Initial Purchased Assets and Subsequent Purchased Assets.

 

“Purchase
Price” shall mean, with respect to any Purchased Assets conveyed by the Seller to the Purchaser hereunder on any Transfer
Date, an amount equal to the aggregate sum of (i) the outstanding principal balance of all Receivables being conveyed on such Transfer
Date, plus (ii) interest accrued but unpaid thereon as of such Transfer Date.

 

“Purchaser”
shall have the meaning specified in the preamble.

 

“Receivable”
shall have the meaning specified in the Loan Agreement.

 

“Request
for Revolver Advance” shall mean a written request for a Revolving Advance under the Loan Agreement submitted by Purchaser
to Agent.

 

“Revolving
Advance” shall have the meaning specified in the Loan Agreement.

 

“Seller”
shall have the meaning specified in the preamble.

 

“Solvent”
shall mean, with respect to any Person, at any date, that, on such date (a) the fair value of the property of such Person is
greater than the total amount of liabilities, including, without limitation, contingent liabilities, (b) the present fair salable
value of the assets of such Person is not less than the amount that will be required to pay the probable liability of such Person on
its debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will, incur debts
or liabilities beyond such Person’s ability to pay as such debts and liabilities mature and (d) such Person is not engaged
in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s property would constitute
an unreasonably small capital. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of
all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured
liability.

 

“Subsequent
Purchased Assets” shall have the meaning specified in Section 2.1(b).

 

“Supplement”
shall mean the certificate documenting the transfer from the Seller to the Purchaser of any Additional Receivables, in the form of Exhibit
A attached hereto, which shall identify (i) each related Receivable and its Receivable Balance (as defined in the Loan Agreement),
(ii) the related Purchase Price, (iii) the origination date of such Receivable, and (iv) the related Addition Date. No Supplement is
intended to be, or shall in any way be deemed to be, a negotiable instrument.

 

“Transaction
Documents” shall mean this Agreement, the Loan Agreement, the Loan Documents (as defined in the Loan Agreement), and all
other documents executed or delivered by the parties hereto or Agent pursuant to this Agreement or in connection herewith, as each such
document may be amended, restated, amended and restated, supplemented, or otherwise modified from time to time.

 

 

 

Purchase and Sale Agreement

 

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“Transfer
Date” shall mean the Closing Date and each Addition Date, as applicable.

 

Section
1.2. Other Definitional Provisions. All terms defined in this Agreement, when used in any other document made or delivered
pursuant hereto, including any certificate or Conveyance Document, shall have the meanings defined herein, unless otherwise defined therein.
Capitalized terms used herein and not otherwise defined herein shall have the meanings given to such terms in the Loan Agreement.

 

ARTICLE
II

PURCHASE AND SALE OF RECEIVABLES

 

Section
2.1. Purchases. (a) The Seller does hereby sell, transfer, assign, set over and otherwise convey to the Purchaser, without
recourse, except as expressly otherwise set forth herein, on the Closing Date, all of its right, title and interest in, to and under
(i) each Initial Receivable, (ii) all Collections and other proceeds of the Initial Receivables received, collected or otherwise
recovered on or after the Closing Date, (iii) all Portfolio Documents relating to the Initial Receivables, (iv) all property that
is related to any Initial Receivable, (v) all servicing rights, all guaranties, letters of credit, letter-of-credit rights, security
interests, liens, supporting obligations and other agreements or arrangements of whatever character from time to time supporting or securing
payment of any Initial Receivable whether pursuant to the Portfolio Documents related to such Initial Receivable or otherwise, (vi) all
insurance policies that relate to any Initial Receivable or any property related to an Initial Receivable, (vii) all of the Seller’s
rights (but none of its obligations) under the Assigned Agreements, in each case to the extent relating to the Initial Receivables, including,
without limitation, (A) all monies due and to become due to the Seller under the Assigned Agreements, whether in respect of Scheduled
Payments, fees, expenses, costs, indemnities, damages for the breach thereof or otherwise, (B) all property otherwise related to the
Assigned Agreements, (C) all rights of the Seller to receive proceeds of any insurance, indemnity, warranty or guaranty with respect
to the Assigned Agreements and (D) all rights, remedies, powers, privileges and claims of Seller in relation to the Purchased Assets,
in each case, whether arising pursuant to the terms of Assigned Agreements or as otherwise available at law or in equity, and (viii) all
proceeds (including, without limitation, “proceeds” as defined in Article 9 of the UCC as in effect in the State of New York),
profits, rents and products of any of the foregoing (collectively, the “Initial Purchased Assets”). The Purchase
Price for the Initial Purchased Assets shall be as set forth on Schedule I attached hereto, and shall be due and payable in cash
on the date of this Agreement.

 

 

 

Purchase and Sale Agreement

 

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(b) From
time to time during the term of this Agreement, upon approval by Agent of a Request for Revolver Advance in accordance with the terms
of the Loan Agreement, the Seller shall sell, transfer, assign, set over and otherwise convey to the Purchaser, and the Purchaser shall
purchase and accept from the Seller, such additional Receivables presented in such Request for Revolver Advance (any Receivable that
the Purchaser so agrees to purchase being an “Additional Receivable”) on the terms and conditions set forth
in this Section 2.1 and Article VII. In the event the Purchaser acquires an Additional Receivable from the Seller, the
Purchaser and the Seller shall execute and deliver a Supplement specifying therein the Additional Receivables which are the subject of
such Conveyance and the effective date of such Conveyance (such date, the “Addition Date”). Effective as of
the Addition Date for each Additional Receivable, the Seller does hereby sell, transfer, assign, set over and otherwise convey to the
Purchaser, without recourse, except as expressly otherwise set forth herein, all of its right, title and interest in, to and under (i) such
Additional Receivable, (ii) all Collections and other proceeds of such Additional Receivable received, collected or otherwise recovered
on or after such Addition Date (or such earlier date, if any, as may be specified in the related Supplement), (iii) all Portfolio Documents
relating to such Additional Receivable, (iv) all property that is related to such Additional Receivable, (v)  all servicing rights,
all guaranties, letters of credit, letter-of-credit rights, security interests, liens, supporting obligations and other agreements or
arrangements of whatever character from time to time supporting or securing payment of such Additional Receivable whether pursuant to
the Portfolio Documents related to such Additional Receivable or otherwise, (vi) all insurance policies that relate to such Additional
Receivable or any property securing such Additional Receivable, (vii) all of the Seller’s rights (but none of its obligations)
under the Assigned Agreements, in each case to the extent relating to such Additional Receivable, including, without limitation, (A)
all monies due and to become due to the Seller under the Assigned Agreements, whether in respect of repurchase prices, Scheduled Payments,
fees, expenses, costs, indemnities, damages for the breach thereof or otherwise, (B) all property otherwise related to the Assigned Agreements,
(C) all rights of the Seller to receive proceeds of any insurance, indemnity, warranty or guaranty with respect to the Assigned Agreements
and (D) all rights, remedies, powers, privileges and claims of Seller in relation to the Purchased Assets, in each case, whether arising
pursuant to the terms of Assigned Agreements or as otherwise available at law or in equity, and (viii) all proceeds (including,
without limitation, “proceeds” as defined in Article 9 of the UCC as in effect in the State of New York), profits, rents
and products of any of the foregoing (collectively, the “Subsequent Purchased Assets”). The Purchase Price
for each Subsequent Purchased Asset shall be as set forth on the Supplement related to it, and shall be due and payable in cash immediately
upon the transfer of title to such Subsequent Purchased Asset from the Seller to the Purchaser.

 

(c) It
is the intention of the parties hereto that each Conveyance of a Receivable to be made hereunder shall constitute a true sale and absolute
conveyance, and not a loan secured by such Receivable, that each Conveyance to the Purchaser hereunder is absolute and irrevocable, without
reservation or retention of any right, title or interest whatsoever by the Seller and that each party will treat each Conveyance as a
true sale in all public or third party communications. Except as expressly otherwise provided in this Agreement, each Conveyance is made
without recourse to the Seller; provided, however, that (i) the Seller shall be liable to the Purchaser for all representations,
warranties, covenants and other agreements made by the Seller pursuant to the terms of this Agreement, and (ii) such Conveyance does
not constitute and is not intended to result in an assumption by the Purchaser or any assignee thereof of any obligation of the Seller
or any other Person, whether arising under the Assigned Agreements or otherwise existing. The Seller agrees to note in its books, records,
financial statements and tax returns that the Purchased Assets have been conveyed to the Purchaser, and the Purchaser agrees to note
in its books, records, financial statements and tax returns that it has purchased such Purchased Assets and has not loaned the Seller
funds secured by such Receivables. If, notwithstanding the intention of the parties, the Seller shall be deemed for any reason to have
retained any right, title or interest in or to any Purchased Asset that is or was purported to be the subject of any Conveyance hereunder,
then the Seller shall be deemed to have granted, and the Seller hereby does grant, to the Purchaser a security interest in all of the
Seller’s right, title and interest in, to and under all Purchased Assets now existing or hereafter arising, which security interest
shall secure all present and future obligations of the Seller hereunder and all amounts paid by the Purchaser to the Seller hereunder
plus interest and other charges that accrue on all Purchased Assets and which security interest shall be expressly subordinate, junior
and inferior in all respects to the security interest of Agent in such Purchased Assets pursuant to the Loan Agreement. It is the intention
of the Seller and the Purchaser that the Purchased Assets transferred by the Seller to the Purchaser pursuant to this Agreement shall
not be part of the Seller’s estate in the event of the filing of a bankruptcy petition by or against the Seller under any bankruptcy
or similar law.

 

 

 

Purchase and Sale Agreement

 

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Section
2.2. Documentation.

 

(a) The
Seller shall take all action necessary or appropriate, or that the Purchaser may reasonably request, to cause the Purchaser to become
the owner of record of each Purchased Asset. The Purchaser is hereby appointed as the attorney-in-fact of the Seller with the power to
prepare, execute and record assignments, endorsements to instruments and other instruments, documents and agreements necessary or appropriate
to evidence or further effectuate the Conveyances made hereunder. Such power, coupled with an interest, is irrevocable.

 

(b) The
Seller shall provide any other data requested by Purchaser and in the Seller’s possession or control with respect to the Receivables
purchased by the Purchaser.

 

(c) On
and after each Transfer Date hereunder, the Purchaser shall own the Purchased Assets conveyed by the Seller to the Purchaser on such
Transfer Date and the Seller shall not take any action inconsistent with such ownership and shall not claim any ownership interest in
such Purchased Assets.

 

ARTICLE
III

CONSIDERATION AND PAYMENT

 

Section
3.1. Purchase Price. The Purchase Price for the Purchased Assets to be conveyed hereunder on any Transfer Date shall be
payable by the Purchaser on such Transfer Date. Such Purchase Price shall be paid in cash by wire transfer of funds to the account
of the Seller specified for such purpose. To the extent that the cash amount received for any Purchased Asset conveyed by the Seller
to the Purchaser hereunder is less than the Purchase Price of such Purchased Asset at the time of the applicable sale, the shortfall
shall be deemed to have been contributed by the Seller to the capital of the Purchaser on the applicable Transfer Date. The Seller
and the Purchaser intend that the Purchase Price for any Purchased Assets conveyed by the Seller to the Purchaser hereunder reflect
the fair market value which would be obtained in an arm’s length transaction with an unaffiliated party of such Purchased
Assets, at the time of the applicable sale.

 

 

 

Purchase and Sale Agreement

 

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ARTICLE
IV

REPRESENTATIONS AND WARRANTIES

 

Section
4.1. Seller Representations and Warranties. The Seller hereby represents and warrants to, and agrees with, the Purchaser as
of the Closing Date and as of each Addition Date, that:

 

(a) Existence;
Compliance with Law. The Seller (i) is a limited liability company duly formed, validly existing and in good standing under
the laws of the State of Nevada; (ii) is duly qualified to conduct business and is in good standing in each other jurisdiction where
its ownership or lease of property or the conduct of its business requires such qualification, except where the absence of such qualification,
individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect; (iii) has the requisite power
and authority to own, pledge, mortgage or otherwise encumber and operate its properties, to lease the property it operates under lease,
and to conduct its business as now, heretofore and proposed to be conducted; (iv) has all licenses, permits, consents or approvals
from or by, and has made all filings with, and has given all notices to, all Governmental Authorities having jurisdiction, to the extent
required for such ownership, operation and conduct, except where the absence of such licenses, permits, consents, approvals or filings,
individually or in the aggregate, would not be reasonably likely to have a Material Adverse Effect; (v) is in compliance with its
organizational documents in all material respects; and (vi) is in compliance with all applicable provisions of law, except where
the failure to comply, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.

 

(b) Executive
Offices; Purchased Assets Locations; Corporate or Other Names; FEIN. As of the Closing Date, the current location of the Seller’s
chief executive office, principal place of business, other offices, the warehouses and premises within which any documentation pertaining
to the Purchased Assets is stored or located, and the locations of its records concerning the Purchased Assets are set forth in Schedule
II hereto. Except as set forth in Schedule II hereto, during the five years prior to the date hereof, the Seller has not been
known as or used any company, fictitious or trade name other than the name of the Seller appearing on the signature page hereto. In addition,
Schedule II hereto lists the federal employer identification number of the Seller.

 

(c) Power,
Authorization, Enforceable Obligations. The execution, delivery and performance by the Seller of this Agreement and the other Transaction
Documents to which it is a party: (i) are within the Seller’s corporate powers; (ii) have been duly authorized by all
necessary limited liability company action; (iii) do not contravene any provision of the Seller’s certificate of formation,
limited liability company agreement or other organizational documents; (iv) do not violate any law or regulation, or any order or
decree of any court or governmental authority binding on the Seller; (v) do not result in the breach or termination of, constitute
a default under or accelerate or permit the acceleration of any performance required by, any Receivable or any material indenture, mortgage,
deed of trust, lease, agreement or other instrument to which the Seller is a party or by which the Seller or any of the property of the
Seller is bound; (vi) do not prohibit monitoring the Purchased Assets, and sharing confidential information with the Purchaser for purposes
of exercising rights and remedies of each of the Purchaser under the Transaction Documents; (vii) do not result in the creation
or imposition of any Adverse Claim upon any of the property of the Seller (other than any right of the Seller hereunder); and (viii) do
not require the consent or approval of any Governmental Authority or any other Person, except consent to the sale of Receivables, to
the extent required by the Portfolio Documents applicable thereto (all of which have been or will be obtained prior to the applicable
Transfer Date). On or prior to the Closing Date, each of the Transaction Documents to which the Seller is a party shall have been duly
executed and delivered by the Seller and each such Transaction Document shall then constitute a legal, valid and binding obligation of
the Seller enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium
or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered
in a proceeding in equity or at law.

 

 

 

Purchase and Sale Agreement

 

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(d) No
Litigation. No litigation is now pending or, to the knowledge of the Seller, threatened against the Seller that (i) challenges
the Seller’s right or power to enter into or perform any of its obligations under the Transaction Documents to which it is a party,
or the validity or enforceability of any Transaction Document or any action taken thereunder, (ii) seeks to prevent any sale contemplated
by this Agreement or the consummation of any of the other transactions contemplated under this Agreement or the other Transaction Documents,
or (iii) could reasonably be expected have a Material Adverse Effect.

 

(e) Solvency.
Both before and after giving effect to (i) the transactions contemplated by this Agreement and the other Transaction Documents and
(ii) the payment and accrual of all transaction costs in connection with the foregoing, the Seller is and will be Solvent.

 

(f) Taxes.
The Seller has filed in a timely manner all material tax returns (federal, state and local) which it reasonably believes are required
to be filed by it and has paid or made adequate provision for the payment of all material taxes, assessments and other governmental charges
due from the Seller except to the extent that the Seller is contesting any such tax, assessment or other governmental charge in good
faith through appropriate proceedings and has adequately reserved against the obligation to pay such amount in accordance and to the
extent required by GAAP.

 

(g) Full
Disclosure. No report or other written statement furnished by or on behalf of the Seller to the Purchaser pursuant to the terms of
this Agreement or any of the other Transaction Document (other than any information provided to the Seller by an Account Debtor on or
prior to the Transfer Date of the Receivable) contains when furnished any untrue statement of a material fact or omits to state a material
fact necessary to make the statements contained herein or therein not misleading in light of the circumstances under which and at the
time they were made.

 

(h) ERISA.
The Seller and any ERISA Affiliate has not adopted, maintained, contributed to or incurred by any of its own actions or
assumed and will not adopt, maintain, contribute to or incur by any of its own actions or assume any legal obligation with
respect to any “employee benefit plan” as defined in Section 3(3) of ERISA or any “multiemployer plan” as defined
in Section 4001(a)(3) of ERISA.

 

(i) Investment
Company Act. The Seller is not, and is not required to be, registered as an “investment company” under the Investment
Company Act of 1940, as amended.

 

 

 

Purchase and Sale Agreement

 

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(j) Eligible
Assets. As of (i) the Closing Date and (ii) the Addition Date with respect to each Receivable, as applicable, each Receivable sold
to the Purchaser pursuant to this Agreement is an Eligible Receivable subject to applicable bankruptcy, insolvency, reorganization, moratorium
or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered
in a proceeding in equity or at law.

 

(k) Conveyances
from Others. All actions (including, without limitation, the filing of all financing statements or other similar instruments or documents
under the UCC of all applicable jurisdictions and the giving of all notices that may be required under the laws of any applicable jurisdiction)
required under the UCC in order to perfect and protect the Purchaser’s interest in the Purchased Assets as against any purchasers
from, or creditors of, the Seller or any Person from whom the Seller acquired such Purchased Asset have been duly taken.

 

(l) No
Adverse Selection. The Seller has not in bad faith selected Receivables for Conveyances that are of lower credit quality than Receivables
that it purchases for its own holdings.

 

(m) Compliance
with Law. Each Receivable that is the subject of a Conveyance complies in all material respects with all requirements of Applicable
Law as of its applicable Transfer Date. Each Receivable that is the subject of a Conveyance has been serviced in compliance in all material
respects with Applicable Law as of its applicable Transfer Date.

 

(n) Good
Title. No Receivable or related other property conveyed to Purchaser hereunder has been sold, transferred, assigned, or pledged by
the Seller to any Person other than the Purchaser. Immediately prior to each Conveyance hereunder, the Seller was the legal and beneficial
owner of each Receivable and all related security interests and other property rights, that is the subject of such Conveyance, free and
clear of any Adverse Claim. After giving effect to each Conveyance hereunder, the Purchaser shall have good and marketable title to each
Purchased Asset purported to be conveyed to the Purchaser, free and clear of any Adverse Claim. As of the Transfer Date pertaining thereto,
the Purchaser shall have good and marketable title to all security interests and other property rights relating to such Receivable.

 

Section
4.2. Representations and Warranties of the Purchaser. The Purchaser hereby represents and warrants to, and agrees with the
Seller as of the Closing Date and as of each Addition Date, that:

 

(a) Existence.
The Purchaser is a limited liability company duly organized, validly existing and in good standing under the laws of the State of Delaware.

 

(b) Power,
Authorization, Enforceable Obligations. The execution, delivery and performance by the Purchaser of this Agreement and the other
Transaction Documents to which it is a party: (i) are within the Purchaser’s limited liability company powers; (ii) have
been duly authorized by all necessary or proper limited liability company action; and (iii) do not contravene any provision of the
Purchaser’s certificate of formation, limited liability company agreement or other organizational documents (collectively, “Organizational
Documents”). On or prior to the Closing Date, each of the Transaction Documents to which the Purchaser is a party shall
have been duly executed and delivered by the Purchaser and each such Transaction Document shall then constitute a legal, valid and binding
obligation of the Purchaser enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization,
moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether
considered in a proceeding in equity or at law.

 

The
representations and warranties set forth in this Article IV shall survive the Conveyance of the Purchased Assets to the Purchaser
and termination of the rights and obligations of the Purchaser and the Seller under this Agreement.

 

 

 

Purchase and Sale Agreement

 

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ARTICLE
V

COVENANTS OF THE SELLER

 

Section
5.1. Seller Covenants. The Seller hereby covenants and agrees with the Purchaser as follows:

 

(a) Compliance
with Agreements and Applicable Laws. The Seller shall perform each of its obligations under this Agreement and the other Transaction
Documents and comply in all material respects with all federal, state and local laws and regulations applicable to it and the Purchased
Assets, including those relating to truth in lending, fair credit reporting, equal credit opportunity, fair debt collection practices,
privacy, licensing, taxation, ERISA and labor matters and all applicable Federal, state and local environmental statutory and regulatory
requirements, except to the extent that the failure to so comply, individually or in the aggregate, could not reasonably be expected
to have a Material Adverse Effect.

 

(b) Maintenance
of Existence and Conduct of Business. The Seller shall: (i) do or cause to be done all things necessary to preserve and keep in full
force and effect its legal existence and its rights and franchises; (ii) continue to conduct its business substantially as now conducted
or as otherwise permitted hereunder and in accordance with the terms of its certificate of incorporation and bylaws; and (iii) transact
business only in such names as set forth on Schedule II, attached hereto.

 

(c)
ERISA; Plan Assets. The Seller shall give the Purchaser prompt written notice of any event that could result in the imposition
of a lien under Section 412 of the Code or Section 302 or 4068 of ERISA. The Seller shall not, directly or indirectly, engage in any
“prohibited transaction” (as defined in Section 406 of ERISA or Section 4975 of the Code), and the Seller and its ERISA Affiliates
shall not, directly or indirectly, (a) incur any “accumulated funding deficiency” as such term is defined in Section 302
of ERISA with respect to any Employee Plan, (b) permit any “employee benefit plan” as defined in Section 3(3) of ERISA to
be subject to involuntary termination proceedings pursuant to Title IV of ERISA, or (c) fully or partially withdraw from any “multiemployer
plan” as defined in Section 4001(a)(3) of ERISA.

 

(d) Modifications
of Purchased Assets. Consistent with the Purchaser’s ownership of the Purchased Assets, except as permitted under the Loan
Agreement, the Seller shall not extend, amend, forgive, discharge, compromise, waive, cancel or otherwise modify the terms of any Purchased
Asset.

 

 

 

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(e) Amendments
to Receivables or Assigned Agreements. The Seller shall not, without the prior written consent of the Purchaser and, if required
under the Loan Agreement, the Agent, (i) cancel or terminate any Receivable or Assigned Agreement that is a Purchased Asset, (ii) give
any consent, waiver, directive or approval under any Receivable or Assigned Agreement that is a Purchased Asset, (iii) waive any default,
action, omission or breach under any Receivable or Assigned Agreement that is a Purchased Asset, or otherwise grant any indulgence or
forbearance thereunder, or (iv) amend, supplement or otherwise modify any of the terms of any Receivable or Assigned Agreement that is
a Purchased Asset.

 

(f) ERISA.
The Seller shall not, and shall not cause or permit any of its ERISA Affiliates to, cause or permit to occur an event that could result
in the imposition of a Lien on Purchased Assets under Section 412 of the Code or Section 302 or 4068 of ERISA.

 

(g) Adverse
Claims. The Seller shall not sell, assign (by operation of law or otherwise) or otherwise dispose of, or grant any option with respect
to, or create or suffer to exist any Adverse Claim upon (including, without limitation, the filing of any financing statement) or with
respect to, any Purchased Asset or assign any right to receive income in respect thereof except to the Purchaser pursuant to this Agreement,
and the Seller shall defend the right, title and interest of the Purchaser in, to and under any of the foregoing property, against all
claims of third parties claiming through or under the Seller.

 

(h) Sale
Treatment. Consistent with the intent of the parties to this Agreement, the Seller will not account for or treat (whether in financial
statements or otherwise) the transactions contemplated by this Agreement in any manner other than a sale and absolute assignment of the
applicable Receivables to the Purchaser constituting a “true sale”.

 

(i) Name
Changes; Organizational Changes; Offices and Records. The Seller shall not change its legal name, identity, company structure or
jurisdiction of organization in any manner, unless it shall have given the Purchaser at least 30 days’ prior written notice thereof.
The Seller shall maintain its principal place of business and chief executive office at the location specified herein or, upon thirty
(30) days’ prior written notice to the Purchaser, at such other location in a jurisdiction where all action reasonably requested
by the Purchaser pursuant to Section 10.13 shall have been taken.

 

(j) Capital
Structure and Business. The Seller shall not (i) make any changes in any of its business objectives, purposes or operations
that results, or that will result, in a Material Adverse Effect or (ii) amend its organizational documents in a manner that results,
or that will result, in a Material Adverse Effect.

 

(k) Information.
The Seller shall deliver or cause to be delivered to the Purchaser information and documents related to the Purchased Assets as the Purchaser
may reasonably request, promptly upon the Purchaser’s request therefor.

 

(l) Records.
The Seller shall maintain its computer systems so that, from and after the time of Conveyance under this Agreement of Purchased Assets
to the Purchaser and the grant of a security interest in such Purchased Assets by the Purchaser to the Agent, the Seller’s master
computer records (including archives) that shall refer to such a Purchased Asset indicate clearly that such Purchased Asset has been
Conveyed to the Purchaser hereunder and pledged by the Purchaser to the Agent. Indication of the security interest of the Agent in a
Purchased Asset transferred hereunder shall be deleted from or modified on the Seller’s computer systems when, and only when, such
Purchased Asset shall be (i) subject to payoff with respect to the underlying Receivable by the related Account Debtor or (ii) the Lien
released, cancelled or terminated pursuant to the Loan Agreement.

 

 

 

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(m) Minimum
Volume Percentage. At any time prior to the last day of the Revolving Period (as defined in the Loan Agreement), so long as (a) the
then-applicable Maximum Loan Amount (as defined in the Loan Agreement) does not exceed $25,000,000 and (b) the then outstanding principal
balance of the Revolving Advances is less than an amount equal to ninety percent (90%) of such Maximum Loan Amount, Seller shall sell
to Purchaser one hundred percent (100%) of all Eligible Receivables, or Receivables substantially similar to the criteria set forth in
the definition of “Eligible Receivables” originated, acquired or held by Seller (calculated as a percentage of Receivables
Balance), on the same terms and conditions set forth in this Agreement.

 

ARTICLE
VI

INDEMNITIES

 

Section
6.1. Indemnities. The Seller shall indemnify and hold harmless the Purchaser, and Purchaser’s officers, directors,
employees, attorneys, agents, representatives and successors (each, an “Indemnified Person”), from and
against any and all suits, actions, proceedings, claims, damages, losses, liabilities and expenses (including reasonable
attorneys’ fees and disbursements and other costs of investigation or defense, including those incurred upon any appeal) which
may be instituted or asserted against or incurred by any such Indemnified Person arising out of or relating to any of the
following:

 

(i)
the failure of any representation or warranty made or deemed made by the Seller (or any of its officers or representatives on its behalf)
under or in connection with this Agreement or any other information delivered by the Seller pursuant hereto to be true and correct in
all material respects when made or deemed made or delivered;

 

(ii)
the failure by the Seller to comply in all material respects with any of its obligations under any term, provision or covenant contained
in this Agreement, any Receivable prior to its Transfer Date or any agreement executed in connection herewith or therewith, or any applicable
law, rule or regulation with respect to the servicing of any Purchased Asset prior to its Transfer Date;

 

(iii)
any action or omission in violation of this Agreement or prior to the Transfer Date by the Seller which results in the imposition of
any Adverse Claim with respect to any Purchased Asset (other than in favor of the Purchaser pursuant to the Transaction Documents);

 

(iv)
any fraud on the part of Account Debtor known to the Seller prior to the applicable Transfer Date or on the part of the Seller or any
of its Affiliates at any time;

 

 

 

Purchase and Sale Agreement

 

    12

     

    

 

(v)
any action by or through Seller that is in violation of the Purchaser’s ownership of the Purchased Assets;

 

(vi)
any dispute, claim, offset or defense (other than discharge in bankruptcy of a related Account Debtor) of any Account Debtor to the payment
of any Purchased Asset relating to any breach by the Seller or its obligations under the related Purchased Asset on or prior to the applicable
Transfer Date but specifically excluding any dispute, claim, offset, or defense arising after the applicable Transfer Date out of acts
by any party other than the Seller; or

 

(vii)
any inability to litigate any claim against any Account Debtor in respect of any Purchased Asset as a result of any action or inaction
of the Seller on or prior to the applicable Transfer Date.

 

For
purposes of clarification, the Seller is not indemnifying any Indemnified Person any such amounts resulting solely from (A) any gross
negligence, bad faith or willful misconduct of any Indemnified Person claiming indemnification hereunder, (B) taxes (including interest
and penalties imposed thereon) imposed by the jurisdiction in which such Indemnified Person’s principal executive office is located,
on or measured by the overall net income of such Indemnified Person; (C) lost profits; and (D) losses in respect of Purchased Assets
that are uncollectible on account of the insolvency, bankruptcy or lack of creditworthiness of the related Account Debtor, or would constitute
recourse to the Seller for losses in respect of such uncollectible Purchased Assets.

 

ARTICLE
VII

CONDITIONS PRECEDENT

 

Section
7.1. Conditions to the Purchaser’s Obligations. Without limiting any provision set forth herein, neither Purchaser nor
Seller shall have any obligation to purchase any Receivable, or to sell any Receivable on any Transfer Date, respectively, in the event
that:

 

(a) any
representation and warranty in this Agreement shall not be true in any material respect or any covenant in this Agreement shall not have
been performed;

 

(b) the
Purchaser shall not have received a duly executed and completed Supplement; or

 

(c) all
of the Assigned Agreements and other documentation required to be delivered to Purchaser pursuant to Section 2.2 hereof (if any)
shall not have been delivered.

 

The
conditions set forth in this Section 7.1 may be waived by the Seller and the Purchaser.

 

 

 

Purchase and Sale Agreement

 

    13

     

    

 

ARTICLE
VIII

 

REPURCHASE
OBLIGATION

 

Upon
discovery by the Purchaser, or Agent of a breach of any representation or warranty with respect to any Receivable sold hereunder, the
party discovering the same shall give prompt written notice thereof to the other party. On or prior to the tenth (10th) Business Day
following receipt of such written notice of such breach, if such breach has not been remedied or waived and if requested in such notice
to repurchase the Receivable affected by such breach, then Seller shall repurchase the Receivable affected by such breach from the Purchaser
by remitting cash to the Collection Account in an amount equal to the aggregate of the then-outstanding principal balance of such Receivable
plus any accrued but unpaid interest with respect to such Receivable as of the repurchase date. Upon Seller satisfying its obligations
under this Article VIII, any breach of the representation and warranty contained herein shall be deemed automatically cured without any
further action.

 

ARTICLE
IX

TERM & PURCHASE TERMINATION

 

Section
9.1. Term. This Agreement shall commence as of the date of execution and delivery hereof and shall continue until the earlier
of (a) the termination of this Agreement by the parties hereto or (b) at the option of the Purchaser or Seller, the repayment in
full of the Obligations and the termination of the Loan Agreement as provided therein; provided, however, that the
rights and remedies with respect to (i) any breach of any representation and warranty made by the Seller pursuant to Article
IV and (ii) the indemnification provisions of Article VI and the provisions of Article VIII and Sections 10.12, 10.14
and 10.15 shall be continuing and shall survive any termination of this Agreement.

 

Section
9.2. Purchase Termination. Upon termination of this Agreement, the parties acknowledge and agree that no further Conveyances
of Purchased Assets may be made to the Purchaser hereunder. Notwithstanding any cessation of Conveyances hereunder, Purchased Assets
transferred to the Purchaser prior to the termination of this Agreement and Collections and other proceeds in respect of such Purchased
Assets whenever received, shall continue to be the property of the Purchaser.

 

ARTICLE
X

MISCELLANEOUS PROVISIONS

 

Section
10.1. Waivers and Amendment. No failure or delay on the part of Purchaser or any Indemnified Person in exercising any power,
right or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right
or remedy preclude any other further exercise thereof or the exercise of any other power, right or remedy. The rights and remedies herein
provided shall be cumulative and nonexclusive of any rights or remedies provided by law. Any waiver of this Agreement shall be effective
only in the specific instance and for the specific purpose for which given. No provision of this Agreement or any other Conveyance Document
may be amended, supplemented, modified or waived except in writing signed by Seller and the Purchaser, in each case except for supplements,
consents, directions and approvals relating to the management of the Receivables and Purchased Assets or the determination of what Receivables
are purchased or sold hereunder.

 

 

 

Purchase and Sale Agreement

 

    14

     

    

 

Section
10.2. GOVERNING LAW. THIS AGREEMENT IS GOVERNED BY THE LAWS OF THE STATE OF NEW YORK IN RELIANCE ON NEW YORK GENERAL
OBLIGATIONS LAW SECTION 5-1401, WITHOUT GIVING EFFECT TO ITS CHOICE OF LAW PRINCIPLES THAT WOULD RESULT IN APPLICATION OF THE LAWS
OF A DIFFERENT JURISDICTION. TO THE FULLEST EXTENT PERMITTED BY LAW, EACH PARTY HEREBY UNCONDITIONALLY AND IRREVOCABLY WAIVES ANY
CLAIM TO ASSERT THAT THE LAW OF ANY OTHER JURISDICTION GOVERNS THIS AGREEMENT. Each of the
parties hereto waives personal service of process and irrevocably consents to service of process in the manner provided for notices
in Section 10.4. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other
manner permitted by law.

 

Section
10.3. CONSENT TO JURISDICTION. By execution and delivery of THIS AGREEMENT, each of
the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of the
CourtS of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York,
and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement, or for recognition
or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect
of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such
Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect
any right that Agent or any Lender may otherwise have to bring any action or proceeding relating to this Agreement against PURCHASER,
SELLER or its RESPECTIVE properties in the courts of any jurisdiction. PURCHASER AND SELLER EACH hereby irrevocably and unconditionally
waive, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of
venue of any suit, action or proceeding arising out of or relating to this Agreement in any court referred to in this Section 10.3.
Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to
the maintenance of such action or proceeding in any such court.

 

 

 

Purchase and Sale Agreement

 

    15

     

    

 

Section
10.4. Notices. Except as otherwise provided herein, whenever it is provided herein that any notice, demand, request, consent,
approval, declaration or other communication shall or may be given to or served upon any of the parties by any other parties, or
whenever any of the parties desires to give or serve upon any other parties any communication with respect to this Agreement, each
such notice, demand, request, consent, approval, declaration or other communication shall be in writing and shall be deemed to have
been validly served, given or delivered (a) upon the earlier of actual receipt and three (3) Business Days after deposit in the
United States Mail, registered or certified mail, return receipt requested, with proper postage prepaid, (b) upon confirmation
of receipt by the transmitting machine and telephonic advice of the transmission, when sent by telecopy or other similar facsimile
transmission, (c) one (1) Business Day after deposit with a reputable overnight courier with all charges prepaid, (d) when
delivered, if hand-delivered by messenger, and (e) upon confirmation of receipt by return e-mail when sent by e-mail, all of which
shall be addressed to the party to be notified and sent to the address or facsimile number set forth under its name on Schedule
III or to such other address (or facsimile number) as may be substituted by notice given as herein provided. The giving of
any notice required hereunder may be waived in writing by the party entitled to receive such notice. Failure or delay in delivering
copies of any notice, demand, request, consent, approval, declaration or other communication to any Person designated in any written
notice provided hereunder to receive copies shall in no way adversely affect the effectiveness of such notice, demand, request,
consent, approval, declaration or other communication. Notwithstanding the foregoing, whenever it is provided herein that a notice
is to be given to any other party hereto by a specific time, such notice shall only be effective if actually received by such party
prior to such time, and if such notice is received after such time or on a day other than a Business Day, such notice shall only be
effective on the immediately succeeding Business Day.

 

Section
10.5. Severability of Provisions. Wherever possible, each provision of this Agreement shall be interpreted in such a manner
as to be effective and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under applicable
law, such provision shall be ineffective only to the extent of such prohibition or invalidity without invalidating the remainder of such
provision or the remaining provisions of this Agreement.

 

Section
10.6. No Set Off. No amounts payable to the Purchaser by the Seller shall be subject to set-off or deduction against any
obligation of the Purchaser to the Seller, and the Seller hereby waives any such right of set-off or deduction.

 

Section
10.7. Counterparts. This Agreement and all Conveyance Documents may be executed in two (2) or more counterparts (and by
different parties on separate counterparts), each of which shall be an original, but all of which together shall constitute one and
the same instrument. Delivery of an executed counterpart of a signature page to this Agreement by facsimile, e-mail or other
Electronic Transmission shall be effective as delivery of a manually executed counterpart of a signature page to this
Agreement.

 

Section
10.8. Binding Effect; Third-Party Beneficiaries. This Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and permitted assigns; provided, however, that no party may assign its rights
or obligations hereunder or any interest herein without the prior written consent of each other party hereto.

 

Section
10.9. Merger and Integration. Except as specifically stated otherwise herein, this Agreement and the other Transaction
Documents set forth the entire understanding of the parties relating to the subject matter hereof, and all prior understandings,
written or oral, are superseded by this Agreement and the other Transaction Documents.

 

Section
10.10. Headings. The headings are for purposes of reference only and shall not otherwise affect the meaning or interpretation
of any provision hereof.

 

 

 

Purchase and Sale Agreement

 

    16

     

    

 

Section
10.11. Schedules and Exhibits. The schedules and exhibits attached hereto and referred to herein shall constitute a part of
this Agreement and are incorporated into this Agreement for all purposes.

 

Section
10.12. Survival of Representations and Warranties. All representations, warranties and agreements contained in this Agreement
or any other Conveyance Document, or contained in certificates of officers of any Seller submitted pursuant hereto, or contained in
any assignment permitted hereunder, shall remain operative and in full force and effect and shall survive conveyance of, or grant of
a security interest in, the related Purchased Assets by the Purchaser to any other Person.

 

Section
10.13. Protection of Ownership Interests of Purchaser in Purchased Assets.

 

(a) The
Seller agrees that from time to time, at its expense, it will promptly execute and deliver all instruments and documents (including,
without limitation, assignment agreements, title documents, financing statements and endorsements of instruments), and take all actions,
that may be necessary, or that the Purchaser may reasonably request, to perfect, protect, defend or more fully evidence the ownership
interest of the Purchaser in the Purchased Assets, or to enable the Purchaser to exercise and enforce its rights and remedies hereunder
(including, without limitation, to enforce any of the Purchased Assets).

 

(b) If
the Seller fails to perform any of its obligations under Section 10.13(a), the Purchaser may (but shall not be required to) perform,
or cause performance of, such obligations, and the Purchaser’s reasonable out-of-pocket costs and expenses incurred in connection
therewith shall be payable by the Seller. The Seller irrevocably authorizes the Purchaser at any time and from time to time in the sole
discretion of the Purchaser, and appoints the Purchaser as its attorney-in-fact, to act on behalf of the Seller (i) to execute on behalf
of the Seller and to file and record financing statements or any other filings necessary or desirable in the Purchaser’s sole discretion
to perfect and to maintain the perfection and priority of the interest of the Purchaser and its assigns in the Purchased Assets and (ii)
to file a carbon, photographic or other reproduction of this Agreement or any financing statement with respect to the Purchased Assets
as a financing statement in such offices as the Purchaser in its sole discretion deem necessary or desirable to perfect and to maintain
the perfection and priority of the Purchaser’s ownership interest in the Purchased Assets. This appointment is coupled with an
interest and is irrevocable. The Seller hereby authorizes the Purchaser to file financing statements and other filing or recording documents
with respect to the Purchased Assets (including any amendments thereto, or continuation or termination statements thereof), without the
signature or other authorization of such Seller, in such form and in such offices as the Purchaser reasonably determines appropriate
to perfect or maintain the perfection of the ownership interest of the Purchaser in the Purchased Assets. The Seller acknowledges and
agrees that it is not authorized to, and will not, file financing statements or other filing or recording documents with respect to the
Purchased Assets (including any amendments thereto, or continuation or termination statements thereof), without the express prior approval
by the Purchaser, consenting to the form and substance of such filing or recording document. The Seller approves, authorizes and ratifies
any filings or recordings made by or on behalf of the Purchaser in connection with the perfection of the ownership interests in favor
of the Purchaser in the Purchased Assets.

 

Section
10.14. Liability of the Seller. The Seller shall be liable in accordance herewith only to the extent of the obligations in
this Agreement specifically undertaken by the Seller (including its indemnification obligations) and with respect to its representations
and warranties in this Agreement and in any Assigned Agreement.

 

Section
10.15. Pledge by Purchaser. The Seller acknowledges that the Purchaser has pledged all of its rights, title and interest in
and to this Agreement to the Agent for the benefit of the Agent and the Lenders (and their successors and assigns), and that the Agent
and the Lenders may enforce this Agreement on behalf of the Purchaser. Each of Agent and the Lenders is an intended third party beneficiary
of this Agreement.

 

[Remainder
of Page Intentionally Left Blank]

 

 

 

Purchase and Sale Agreement

 

    17

     

    

 

IN
WITNESS WHEREOF, the Purchaser and the Seller have caused this Agreement to be duly executed by their respective officers as of the day
and year first above written.

 

	 	RUMBLEON FINANCE, LLC, as Seller
	 	 
	 	By:	/s/ Scott Raymer
	 	Name:	Scott Raymer
	 	Title:	President
	 	 	 
	 	ROF SPV I, LLC, as Purchaser
	 	 
	 	By:	/s/ Scott Raymer
	 	Name:	Scott Raymer
	 	Title:	President

 

Purchase and Sale Agreement

 

     

     

    

 

EXHIBIT
A 

to

PURCHASE
AND SALE AGREEMENT

FORM OF SUPPLEMENT

 

This
SUPPLEMENT, dated as of ________, 20__ (the “Transfer Date”), is entered into by and between RUMBLEON
FINANCE, LLC, a Nevada limited liability company (the “Seller”), and ROF SPV I, LLC, a Delaware
limited liability company (the “Purchaser”).

 

PRELIMINARY
STATEMENTS

 

Reference
is made herein to that certain Purchase and Sale Agreement dated as of February 4, 2022 (as amended, restated, supplemented or otherwise
modified from time to time, the “Sale Agreement”) among the Seller and the Purchaser. Capitalized terms used
and not otherwise defined herein shall have the meanings specified in the Sale Agreement or, if not defined therein, in the Loan Agreement
referred to therein.

 

Pursuant
to the Sale Agreement, the Seller may from time to time assign and sell Receivables and other property related to such Receivables to
the Purchaser. The Sale Agreement provides that each such Conveyance of Receivables and other property is to be confirmed by the execution
and delivery of an agreement such as this Supplement.

 

NOW,
THEREFORE, in consideration of the mutual covenants contained herein, and other good and valuable consideration, the receipt and adequacy
of which is hereby acknowledged, the parties hereto agree as follows:

 

Section
1. Sale, Assignment and Transfer. For good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the Seller does hereby sell, transfer, assign, set over and otherwise convey to the Purchaser, without recourse except
as expressly provided in the Sale Agreement, all of its right, title and interest in, to, and under the Receivables identified on Schedule
A attached hereto together with all other Subsequent Purchased Assets related thereto, whether now existing or hereafter
arising.

 

Section
2. Representations and Warranties of the Seller. The Seller hereby re-makes the representations and warranties set forth in
Section 4.1 of the Sale Agreement (other than those specific to a certain date), on which the Purchaser relies in accepting the
Subsequent Purchased Assets. Such representations and warranties shall survive the Conveyance of the Subsequent Purchased Assets to the
Purchaser.

 

Section
4. Binding Effect. This Supplement will inure to the benefit of and be binding upon the parties hereto and their respective
successors and permitted assigns as set forth in the Sale Agreement.

 

Section
5. Headings. The headings herein are for purposes of reference only and shall not otherwise affect the meaning or
interpretation of any provision hereof.

 

Purchase and Sale Agreement

 

     

     

    

 

Section
6. Intent of the Parties. It is the intention of the parties hereto that the Conveyance contemplated hereby shall constitute
a true sale and absolute conveyance, and not a loan secured by any Receivable. If, notwithstanding the intention of the parties, the
Seller shall be deemed for any reason to have retained any right, title or interest in or to any Receivable that is or was purported
to be the subject of any Conveyance hereunder, then the Seller shall be deemed to have granted, and the Seller hereby does grant, to
the Purchaser a security interest in all of the Seller’s right, title and interest in, to and under such Receivable and all Subsequent
Purchased Assets related thereto, whether now existing or hereafter arising, which security interest shall secure all present and future
obligations of the Seller hereunder and under the Sale Agreement.

 

Section
7. GOVERNING LAW. THIS SUPPLEMENT AND THE OBLIGATIONS ARISING HEREUNDER SHALL BE GOVERNED IN ACCORDANCE WITH SECTION 10.2
OF THE SALE AGREEMENT, THE TERMS AND PROVISIONS OF WHICH ARE INCORPORATED HEREIN.

 

Section
8. Counterparts. This Supplement may be executed in two (2) or more counterparts (and by different parties on separate
counterparts), each of which shall be an original, but all of which together shall constitute one and the same instrument. Delivery
of an executed counterpart of a signature page to this Supplement by facsimile, e-mail or other Electronic Transmission shall be
effective as delivery of a manually executed counterpart of a signature page to this Supplement.

 

Purchase and Sale Agreement

 

[Remainder
of Page Intentionally Left Blank]

 

     

     

    

 

IN
WITNESS WHEREOF, the Purchaser and the Seller have caused this Supplement to be duly executed by their respective officers as of the
day and year first above written.

 

	 	RUMBLEON FINANCE, LLC, as Seller
	 	 
	 	By:	               
	 	Name:	
	 	Title:	
	 	 	 
	 	ROF SPV I, LLC, as Purchaser
	 	 
	 	By:	
	 	Name:	
	 	Title:	

 

[Signature
Page to Supplement]

 

 

 

Purchase and Sale Agreement
 

     

     

    

 

SCHEDULE
A TO SUPPLEMENT

 

List
of Purchased Assets

 

 

 

Purchase
and Sale Agreement

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