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INDEMNITY GUARANTY
THIS INDEMNITY GUARANTY (this “Guaranty”) is executed as of May 14 2019, by COGNICAL, INC., a Delaware corporation (“Holdings”) and COGNICAL HOLDINGS, INC., a Delaware corporation  (“Parent Entity” and, together with Holdings, the “Guarantors” and each, individually, a (“Guarantor”), for the benefit of MIDTOWN MADISON MANAGEMENT LLC, a Delaware limited liability company having an address at 780 Third Avenue, 27th Floor, New York, New York in its capacity as agent for itself as a Lender and the Lenders (as defined below) (in such capacity, the “Agent”).
W I T N E S S E T H:
WHEREAS, pursuant to that certain Loan and Security Agreement dated as of May 14, 2019 (as the same may be amended, restated or modified from time to time, the “Loan Agreement”; capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Loan Agreement) by and among KATAPULT SPV-1 LLC, a Delaware limited liability company (“Borrower”), Holdings, Agent and the financial institutions party thereto from time to time as lenders (along with Agent the “Lenders”), Borrower has become indebted, and may from time to time be further indebted, to Agent and Lenders with respect to a credit facility (the “Loan”) which is further evidenced, secured or governed by the other Loan Documents; and
WHEREAS, Agent and the Lenders are not willing to make the Loan, or otherwise extend credit, to Borrower unless each Guarantor unconditionally guarantees payment and performance to Agent, for the benefit of itself and the Lenders, of the Guaranteed Obligations (as herein defined); and
WHEREAS, each Guarantor owns, directly or indirectly, equity interests in the Borrower, and each Guarantor will directly or indirectly benefit from the Agent and the Lenders making the Loan to Borrower.
NOW, THEREFORE, as an inducement to the Agent and the Lenders to make the Loan to Borrower, and to extend such additional credit as Agent and the Lenders may from time to time agree to extend under the Loan Documents, and for other good and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, the parties do hereby agree as follows:
ARTICLE I
NATURE AND SCOPE OF GUARANTY
1.1Guaranty of Obligation.  Each Guarantor hereby irrevocably and unconditionally, jointly and severally, guarantees to Agent and the Lenders and their respective successors and assigns the payment and performance of the Guaranteed Obligations as and when the same shall be due and payable in accordance with Section 1.4, whether by lapse of time, by acceleration of maturity or otherwise.  Each Guarantor hereby irrevocably and unconditionally covenants and agrees that it is jointly and severally liable for the Guaranteed Obligations as a primary obligor.
1.2Definition of Guaranteed Obligations.  As used herein, the term “Guaranteed Obligations” means: 
(a)Subject to Section 1.2(c) below, the obligations or liabilities of Borrower to Agent for any loss, damage, cost, expense, liability, claim or other obligation actually incurred by Agent or 

any Lender (including, without limitation, attorneys’ fees and costs reasonably incurred) collectively, “Losses”) arising out of or in connection with the following:
(i)any willful or intentional misrepresentation or gross negligence by Borrower, Servicer (so long as Servicer is Holdings or an Affiliate of Holdings) or any Guarantor in connection with the Loan;
(ii)any acts of fraud, misappropriation or misapplication of funds or proceeds of any Collateral by Borrower, Servicer (so long as Servicer is an Affiliate of Borrower or any Guarantor) or any Guarantor;
(iii)any Change of Control not approved in writing by Agent prior to such Change of Control;
(iv)any unauthorized, consensual and intentional transfer, assignment, sale, encumbrance or other condition, restriction or exception affecting any Collateral under the Loan by Borrower, Servicer (so long as Servicer is Holdings or an Affiliate of Holdings) or any Guarantor;
(v)the willful removal or disposal of any portion of the Collateral after an Event of Default;
(vi)the willful misapplication or conversion by Borrower, Servicer (so long as Servicer is Holdings or an Affiliate of Holdings) or any Guarantor of (A) any proceeds of or payments made on or related to any Pledged Lease or (B) any insurance proceeds paid by reason of any loss, damage or destruction to the Collateral;
(vii)Borrower or any Guarantor (A) asserts any claim, defense or offset against Agent that Borrower or such Guarantor has waived or agreed not to assert or (B) make or made any application to any court or in connection with any other proceeding to declare that all or any portion of the lien of Agent or the obligations of Borrower to pay principal and interest as specified in the Loan Documents to be rescinded, set aside, or determined to be void or unenforceable; or
(viii)Borrower, Servicer or any Guarantor consenting to, seeking or causing, except pursuant to a court order consented to or sought by Borrower, Servicer or any Guarantor, any of the terms of any of the Loan Documents to be modified without Agent’s consent;
(b)Subject to Section 1.2(c) below, the entire amount of the Loan and all Obligations under the Loan Agreement and the other Loan Documents following the occurrence of any of the following:
(i)Borrower or any Guarantor files a voluntary petition under the Bankruptcy Code or any other federal or state bankruptcy or insolvency law;
(ii)an officer, director, representative or Person which owns or controls, directly or indirectly, of Borrower or any Guarantor, files, or joins in the filing of, an involuntary petition against Borrower or any Guarantor under the Bankruptcy Code or any other federal or state bankruptcy or insolvency law, or solicits or causes to be solicited petitioning creditors for any involuntary petition against Borrower or any Guarantor from any Person; or
(iii)Borrower or any Guarantor files an answer consenting to or otherwise acquiescing in or joining in any involuntary petition filed against it, by any other Person under the Bankruptcy Code or any other federal or state bankruptcy or insolvency law, or solicits or causes to be solicited petitioning creditors for any involuntary petition from any Person.
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(c)Notwithstanding anything to the contrary in this Agreement, the Guaranteed Obligations shall not include, and the Guarantors shall have no liability, whether as a primary obligor or otherwise, including for any Losses under Section 1.2(a) or any Obligations under the Loan Agreement and the other Loan Documents or other amounts under Section 1.2(b), to the extent arising out of or in connection with any of the acts or occurrences set forth in Sections 1.2(a) and/or 1.2(b) to the extent that such acts or occurrences were taken, or caused to have been taken directly by Agent or any Lender and/or their transferees, or any Person to whom the equity interests in Borrower are transferred as a result of the exercise by Agent or Lenders of their rights and remedies under the Loan Agreement or other Loan Documents, whether in any capacity whatsoever, including in their capacities of Agent, Lender or attorney-in-fact to, or owner of, Borrower.
1.3Nature of Guaranty.  This Guaranty is an irrevocable, absolute, continuing guaranty of payment and performance and not a guaranty of collection.  This Guaranty may not be revoked by any Guarantor and shall continue to be effective with respect to any Guaranteed Obligations arising or created after any attempted revocation by any Guarantor and after any Guarantor’s death (in which event this Guaranty shall be binding upon such Guarantor’s estate and such Guarantor’s legal representatives and heirs).  The fact that at any time or from time to time the Guaranteed Obligations may be increased or reduced shall not release or discharge the obligation of any Guarantor to Agent or the Lenders with respect to the Guaranteed Obligations.  This Guaranty may be enforced by Agent and its successors and assigns on behalf of itself and the Lenders and shall not be discharged by the assignment or negotiation of all or part of the Obligations.
1.4Payment By Guarantor.  If at any time following the occurrence or continuation of an Event of Default, any Guarantor shall have any liability in respect of the Guaranteed Obligations, whether at demand, maturity, acceleration or otherwise, each Guarantor shall, within five (5) days after demand by Agent to such Guarantor, and without presentment, protest, notice of protest, notice of non-payment, notice of intention to accelerate the maturity, notice of acceleration of the maturity, or any other notice whatsoever, pay in lawful money of the United States of America, the amount due on the Guaranteed Obligations to Agent at Agent’s address as set forth herein, for the benefit of itself and the Lenders.  Such demand(s) may be made at any time coincident with or after the time for payment of all or part of the Guaranteed Obligations, and may be made from time to time with respect to the same or different items of Guaranteed Obligations.  Such demand shall be deemed made, given and received in accordance with the notice provisions hereof.
1.5No Duty To Pursue Others.  It shall not be necessary for Agent (and each Guarantor hereby waives any rights which such Guarantor may have to require Agent), in order to enforce the obligations of Guarantors hereunder, first to (i) institute suit or exhaust its remedies against Borrower or others liable on the Loan or the Guaranteed Obligations or any other person, (ii) enforce or exhaust Agent’s rights against the Collateral, (iii) enforce Agent’s rights against any other guarantors of the Guaranteed Obligations, (iv) join Borrower or any others liable on the Obligations in any action seeking to enforce this Guaranty, or (vi) resort to any other means of obtaining payment of the Guaranteed Obligations. Agent shall not be required to mitigate damages or take any other action to reduce, collect or enforce the Guaranteed Obligations.
1.6Waivers.  Each Guarantor agrees to the provisions of the Loan Documents, and hereby waives notice of (i) any loans or advances made by Agent to Borrower pursuant to and in accordance with the Loan Agreement and each other Loan Document, (ii) acceptance of this Guaranty, (iii) any amendment or extension of the Loan Agreement or of any other Loan Documents, (iv) the execution and delivery by Borrower and Agent of any other loan or credit agreement or of Borrower’s execution and delivery of any promissory notes or other documents arising under the Loan Documents, (v) the occurrence of any Default or an Event of Default 
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under the Loan Agreement, (vi) Agent’s transfer or disposition of the Guaranteed Obligations, or any part thereof, (vii) sale or foreclosure (or posting or advertising for sale or foreclosure) of any collateral for the Obligations, (viii) protest, proof of non-payment or default by Borrower of its Obligations, or (ix) any other action at any time taken or omitted by Agent, and, generally, all demands and notices of every kind in connection with this Guaranty, the Loan Documents, any documents or agreements evidencing, securing or relating to any of the Guaranteed Obligations and the obligations hereby guaranteed.
1.7Payment of Expenses.  In the event that Guarantors should breach or fail to timely perform any provisions of this Guaranty, Guarantors shall, within five (5) days after demand by Agent, pay Agent all costs and expenses (including court costs and attorneys’ fees) incurred by Agent in the enforcement hereof or the preservation of Agent’s rights hereunder.  Each Guarantor agrees that it is jointly and severally liable for the payment of costs and expenses under this Section 1.7.  The covenant contained in this Section shall survive the payment and performance of the Guaranteed Obligations.
1.8Effect of Bankruptcy.  In the event that, pursuant to any Debtor Relief Law, or any judgment, order or decision thereunder, Agent or any Lender must rescind or restore any payment, or any part thereof, received by Agent or any Lender in satisfaction of the Guaranteed Obligations, as set forth herein, any prior release or discharge from the terms of this Guaranty given to Guarantor by Agent or any Lender shall be without effect, and this Guaranty shall remain in full force and effect. It is the intention of Borrower and each Guarantor that no Guarantor’s obligations hereunder shall be discharged except by such Guarantor’s performance of such obligations and then only to the extent of such performance.
1.9Waiver of Subrogation, Reimbursement and Contribution.  Notwithstanding anything to the contrary contained in this Guaranty, each Guarantor hereby unconditionally and irrevocably waives, releases and abrogates any and all rights it may now or hereafter have under any agreement, at law or in equity (including, without limitation, any law subrogating Guarantors to the rights of Agent), to assert any claim against or seek contribution, indemnification or any other form of reimbursement from Borrower or any other party liable for payment of any or all of the Guaranteed Obligations for any payment made by any Guarantor under or in connection with this Guaranty or otherwise, until the Obligations are repaid in full and the Loan Agreement and the other Loan Documents have been terminated.
1.10[Reserved].  
1.11Exclusive Right to Finance. Each Guarantor hereby covenants and agrees not to form, or consent to or otherwise acquiesce in the formation of, any Affiliate of Guarantor, or otherwise use any Subsidiary existing on the Closing Date, to circumvent the intent of the covenants, agreements and obligations of the Borrower set forth in Section 2.14(c) of the Loan Agreement.
1.12Right of First Refusal. Each Guarantor hereby covenants and agrees to comply with the provisions of Section 6.16 of the Loan Agreement applicable to it in all respects. 
1.13Publicity and Confidentiality. Each Guarantor hereby covenants and agrees to comply with and be bound by the provisions set forth in Section 12.10 of the Loan Agreement as if it were party thereto as the Borrower.
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ARTICLE II
EVENTS AND CIRCUMSTANCES NOT REDUCING
OR DISCHARGING GUARANTORS’ OBLIGATIONS
Each Guarantor hereby consents and agrees to each of the following, and agrees that such Guarantor’s obligations under this Guaranty shall not be released, diminished, impaired, reduced or adversely affected by any of the following, and waives any common law, equitable, statutory or other rights (including without limitation rights to notice) which such Guarantor might otherwise have as a result of or in connection with any of the following:
1.1Modifications.  Any renewal, extension, increase, modification, alteration or rearrangement of all or any part of the Guaranteed Obligations or the Obligations, the Loan Agreement, the other Loan Documents, or any other document, instrument, contract or understanding between Borrower and Agent or any Lender, or any other parties, pertaining to the Guaranteed Obligations or any failure of Agent to notify such Guarantor of any such action, in each case, as permitted by the Loan Agreement or the other Loan Documents.
1.2Adjustment.  Any adjustment, indulgence, forbearance or compromise of the Obligations or the Guaranteed Obligations that might be granted or given by Agent or the Lenders to Borrower or any other Guarantor.
1.3Condition of Borrower or Guarantors.  The insolvency, bankruptcy, arrangement, adjustment, composition, liquidation, disability, dissolution or lack of power of Borrower, any other Guarantor or any other party at any time liable for the payment of all or part of the Obligations or Guaranteed Obligations; or any death or dissolution of Borrower or any Guarantor, or any sale, lease or transfer of any or all of the assets of Borrower or any Guarantor, or any changes in the shareholders, partners, members or trustee of Borrower or any Guarantor; or any reorganization of Borrower or any Guarantor.
1.4Invalidity of Guaranteed Obligations and Obligations.  The invalidity, illegality or unenforceability of all or any part of the Guaranteed Obligations or the Obligations, or any document or agreement executed in connection with the Guaranteed Obligations or the Obligations, for any reason whatsoever, including without limitation the fact that (i) the Guaranteed Obligations or the Obligations, or any part thereof, exceeds the amount permitted by law, (ii) the act of creating the Guaranteed Obligations or the Obligations or any part thereof is ultra vires, (iii) the officers or representatives executing the Loan Agreement or the other Loan Documents or otherwise creating the Guaranteed Obligations or the Obligations acted in excess of their authority, (iv) the Guaranteed Obligations or the Obligations violate applicable usury laws, (v) the Borrower has valid defenses, claims or offsets (whether at law, in equity or by agreement) which render the Obligations wholly or partially uncollectible from Borrower, (vi) the creation, performance or repayment of the Guaranteed Obligations or the Obligations (or the execution, delivery and performance of any document or instrument representing part of the Guaranteed Obligations or the Obligations or executed in connection with the Guaranteed Obligations or the Obligations, or given to secure the repayment of the Guaranteed Obligations or the Obligations) is illegal, uncollectible or unenforceable, or (vii) the Loan Agreement or any of the other Loan Documents have been forged or otherwise are irregular or not genuine or authentic, it being agreed that each Guarantor shall remain liable hereon regardless of whether Borrower or any other person (other than such Guarantor) be found not liable on the Guaranteed Obligations or the Obligations or any part thereof for any reason.
1.5Release of Obligors.  Any full or partial release of the liability of Borrower on the Guaranteed Obligations or the Obligations, or any part thereof, or of any co-guarantors, or any other Person now or hereafter liable, whether directly or indirectly, jointly, severally, or jointly and severally, to pay, perform, guarantee or assure the payment of the Guaranteed Obligations, 
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or any part thereof, it being recognized, acknowledged and agreed by each Guarantor that such Guarantor may be required to pay the Guaranteed Obligations in full without assistance or support of any other party, and such Guarantor has not been induced to enter into this Guaranty on the basis of a contemplation, belief, understanding or agreement that other parties will be liable to pay or perform the Guaranteed Obligations, or that Agent will look to other parties to pay or perform the Guaranteed Obligations.
1.6Other Collateral.  The taking or accepting of any other security, collateral or guaranty, or other assurance of payment, for all or any part of the Guaranteed Obligations or the Obligations.
1.7Release of Collateral.  Any release, surrender, exchange, subordination, deterioration, waste, loss or impairment (including without limitation negligent, willful, unreasonable or unjustifiable impairment) of any collateral, property or security at any time existing in connection with, or assuring or securing payment of, all or any part of the Guaranteed Obligations or the Obligations.
1.8Care and Diligence.  The failure of Agent, any Lender or any other party to exercise diligence or reasonable care in the preservation, protection, enforcement, sale or other handling or treatment of all or any part of any collateral, property or security, including but not limited to any neglect, delay, omission, failure or refusal of Agent (i) to take or prosecute any action for the collection of any of the Guaranteed Obligations or the Obligations, (ii) to foreclose, or initiate any action to foreclose, or, once commenced, prosecute to completion any action to foreclose upon any security therefor, or (iii) to take or prosecute any action in connection with any instrument or agreement evidencing or securing all or any part of the Guaranteed Obligations or the Obligations.
1.9Unenforceability.  The fact that any collateral, security, security interest or lien contemplated or intended to be given, created or granted as security for the repayment of the Guaranteed Obligations or the Obligations, or any part thereof, shall not be properly perfected or created, or shall prove to be unenforceable or subordinate to any other security interest or lien, it being recognized and agreed by each Guarantor that such Guarantor is not entering into this Guaranty in reliance on, or in contemplation of the benefits of, the validity, enforceability, collectability or value of any of the collateral for the Guaranteed Obligations or the Obligations.
1.10Merger.  The reorganization, merger or consolidation of Borrower into or with any other Person or any other corporate transaction involving Borrower.
1.11Preference.  Any payment by Borrower to Agent or any Lender is held to constitute a preference under bankruptcy laws, or for any reason Agent is required to refund such payment or pay such amount to Borrower or someone else.
1.12Other Actions Taken or Omitted.  Any other action taken or omitted to be taken with respect to the Loan Documents, the Guaranteed Obligations, the Obligations, or the security and collateral therefor, whether or not such action or omission prejudices Guarantor or increases the likelihood that Guarantor will be required to pay the Guaranteed Obligations or the Obligations pursuant to the terms hereof, it is the unambiguous and unequivocal intention of Guarantor that Guarantor shall be obligated to pay the Guaranteed Obligations when due, notwithstanding any occurrence, circumstance, event, action, or omission whatsoever, whether contemplated or uncontemplated, and whether or not otherwise or particularly described herein, which obligation shall be deemed satisfied only upon the full and final payment and satisfaction of the Guaranteed Obligations or the Obligations.
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ARTICLE III
REPRESENTATIONS, WARRANTIES AND COVENANTS
To induce Agent and each Lender to enter into the Loan Documents and extend credit to Borrower, each Guarantor represents and warrants to Agent and the Lenders as follows:
1.1Benefit.  Such Guarantor owns, directly or indirectly, equity interests in the Borrower, and each Guarantor has received, or will receive, direct or indirect benefit from the making of this Guaranty with respect to the Guaranteed Obligations.
1.2Familiarity and Reliance.  Such Guarantor is familiar with, and has independently reviewed books and records regarding, the financial condition of the Borrower and is familiar with the value of any and all collateral intended to be created as security for the payment of the Obligations; however, such Guarantor is not relying on such financial condition or the collateral as an inducement to enter into this Guaranty.
1.3No Representation By Agent.  Neither Agent, any Lender nor any other party has made any representation, warranty or statement to such Guarantor in order to induce such Guarantor to execute this Guaranty.
1.4Guarantor’s Financial Condition.  As of the date hereof, and after giving effect to this Guaranty and the contingent obligation evidenced hereby, such Guarantor is, and will be, solvent and able to meet its obligations and liabilities as they become due, and the assets of such Guarantor, at a Fair Valuation, exceed the total liabilities (including contingent, subordinated, unmatured and unliquidated liabilities) of such Guarantor, and no unreasonably small capital base exists with respect such Guarantor.
1.5Legality.  The execution, delivery and performance by such Guarantor of this Guaranty and each of the other Loan Documents to which it is a party and the consummation of the transactions contemplated hereunder (and thereunder) (a) have been duly authorized by all requisite action of such parties and have been duly executed and delivered by such parties; (b) do not violate any provisions of (i) any Applicable Law, (ii) any order of any Governmental Authority binding on any such party or any of their respective properties, or (iii) the limited liability company agreement (or any other equivalent governing agreement or document) of any such party, or any agreement between any such party 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, would constitute or result in a conflict, breach, default or event of default under, any indenture, agreement or other instrument to which any such party is a party, or by which the properties or assets of such party are bound, the effect of which could reasonably be expected to be, have or result in a Material Adverse Effect; (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 such party, 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.  When executed and delivered, this Guaranty will constitute the legal, valid and binding obligation of such Guarantor, enforceable against such party 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).
1.6Litigation.  No Guarantor is a party to any material pending or, to the knowledge of such Guarantor, threatened action, suit, proceeding or investigation related to its respective business that could reasonably be expected to have a Material Adverse Effect, (b) there is no pending or, 
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to the knowledge of such Guarantor, threatened action, suit, proceeding or investigation against such Guarantor that could reasonably be expected to prevent or materially delay the consummation by such Guarantor of the transactions contemplated herein, (c) no Guarantor is a party or subject to any order, writ, injunction, judgment or decree of any Governmental Authority and (d) there is no action, suit, proceeding or investigation initiated by such Guarantor currently pending that could reasonably be expected to have a Material Adverse Effect.
1.7Organization and Authority.  Each Guarantor is a limited liability company or corporation, duly organized, validly existing and in good standing under the laws of its state of organization.  Each Guarantor (a) has all requisite power and authority to own its properties and assets (including, without limitation, 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 each jurisdiction in which failure to so qualify could reasonably be likely to have or result in a Material Adverse Effect.  Each Guarantor has all requisite power and authority (i) to execute, deliver and perform this Guaranty and the Loan Documents to which it is a party, and (ii) to consummate the transactions contemplated under the Loan Documents to which it is a party. No Guarantor is an “investment company” registered or required to be registered under the Investment Company Act of 1940, as amended, nor controlled by such an “investment company.”  No transaction contemplated in this Guaranty or the other Loan Documents requires compliance with any bulk sales act or similar law.
1.8[Reserved].   
1.9[Reserved].
1.10Anti-Terrorism; OFAC. Each Guarantor shall not, nor shall such Guarantor permit any of its Subsidiaries to, (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.
ARTICLE IV
MISCELLANEOUS
1.1Delay; No Waiver of Defaults.   No course of action or dealing, renewal, release or extension of any provision hereunder, or single or partial exercise of any such provision, or delay, failure or omission on Agent’s part in enforcing any such provision shall affect the liability of any Guarantor or operate as a waiver of such provision or preclude any other or further exercise of such provision.  No waiver by any party to this Guaranty of any one or more defaults by any other party in the performance of any of the provisions hereunder 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 hereunder, by completing the Closing under the Loan Agreement and/or by making Advances, neither the Agent nor any Lender waives any breach of any representation or warranty of under this Guaranty, and all of Agent’s or any Lender’s claims and rights resulting from any such breach or misrepresentation are specifically reserved.
1.2Notices.  Any notice or request shall be given to the applicable party at such party’s address set forth beneath its signature, or at such other address as such party may 
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hereafter specify in a notice given in the manner required under this Section 4.2.  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) facsimile or electronic transmission, in each case upon telephone or further electronic communication from the recipient acknowledging receipt (whether automatic or manual from recipient), as applicable.

1.3Governing Law; Jurisdiction; Service of Process; Venue.
(A)    THIS GUARANTY, PURSUANT TO NEW YORK GENERAL OBLIGATIONS LAW SECTION 5-1401, SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO ITS CHOICE OF LAW PROVISIONS THAT WOULD RESULT IN THE APPLICATION OF THE LAWS OF A DIFFERENT JURISDICTION.
(B)    BY EXECUTION AND DELIVERY OF THIS GUARANTY, 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 GUARANTY, 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 GUARANTY SHALL AFFECT ANY RIGHT THAT AGENT OR ANY LENDER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS GUARANTY AGAINST ANY GUARANTOR OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.
(C)    EACH GURANTOR 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 (A) OF THIS SECTION 4.3.  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.
(D)    EACH OF THE PARTIES HERETO WAIVES PERSONAL SERVICE OF PROCESS AND AGREEMENT IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 4.2.  NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY TO 
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THIS AGREEMENT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.
1.4Severability; Captions; Counterparts; Facsimile Signatures.  If any provision of this Guaranty is adjudicated to be invalid under Applicable Laws or regulations, such provision shall be inapplicable to the extent of such invalidity without affecting the validity or enforceability of the remainder of this Guaranty which shall be given effect so far as possible. The captions in this Guaranty are intended for convenience and reference only and shall not affect the meaning or interpretation of this Guaranty.  This Guaranty may be executed in one or more counterparts (which taken together, as applicable, shall constitute one and the same instrument) and by facsimile transmission, which facsimile signatures shall be considered original executed counterparts.  Each party to this Guaranty agrees that it will be bound by its own facsimile signature and that it accepts the facsimile signature of each other party.
1.5Amendments.  This Guaranty may only be amended by a writing executed by each Guarantor and Agent.
1.6Parties Bound; Assignment; Joint and Several.  This Guaranty shall be binding upon and inure to the benefit of the parties hereto and their respective successors, assigns and legal representatives; provided, however, that Guarantors may not, without the prior written consent of Agent, assign any of its rights, powers, duties or obligations hereunder.  If Guarantor consists of more than one person or party, the obligations and liabilities of each such person or party pursuant to this Guaranty, including, but not limited to, the payment and performance of the Guaranteed Obligations and the payment of costs and expenses pursuant to Section 1.7 hereof, shall be joint and several.
1.7[Reserved].
1.8Recitals.  The recital and introductory paragraphs hereof are a part hereof, form a basis for this Guaranty and shall be considered prima facie evidence of the facts and documents referred to therein.
1.9[Reserved].
1.10Rights and Remedies.  If any Guarantor becomes liable for any indebtedness owing by Borrower to Agent, by endorsement or otherwise, other than under this Guaranty, such liability shall not be in any manner impaired or affected hereby and the rights of Agent hereunder shall be cumulative of any and all other rights that Agent may ever have against such Guarantor.  Agent shall have the right in its sole discretion to determine which rights, Liens and/or remedies Agent and Lenders may at any time pursue, relinquish, subordinate or modify, and such determination will not in any way waive, compromise, modify or affect any of Agent’s or Lenders’ rights, Liens or remedies under this Guaranty, Applicable Law or equity.  The enumeration of any rights and remedies in this Guaranty is not intended to be exhaustive, and all rights and remedies of Agent and Lenders described hereunder are cumulative and are not alternative to or exclusive of any other rights or remedies which Agent and Lenders 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.
1.11Entirety.  This Guaranty constitutes the entire agreement between Guarantors and Agent with respect to the subject matter hereof and thereof, and supersedes all prior agreements and understandings, if any, relating to the subject matter hereof or thereof.  Any promises, representations, warranties or guarantees not herein contained and hereinafter 
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made shall have no force and effect unless in writing signed by Guarantors and Agent.  Except as set forth in and subject to Section 4.5, no provision of this Guaranty may be changed, modified, amended, restated, waived, supplemented, discharged, canceled or terminated orally.  Each party hereto acknowledges that it has been advised by counsel in connection with the negotiation and execution of this Guaranty and is not relying upon oral representations or statements inconsistent with the terms and provisions hereof.
1.12Waiver of Right To Trial By Jury.  
    (A)    EACH GUARANTOR HEREBY (i) EXPRESSLY, KNOWINGLY AND VOLUNTARILY  WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION ARISING HEREUNDER OR IN ANY WAY CONNECTED WITH OR INCIDENTAL TO THE DEALINGS OF THE PARTIES WITH RESPECT TO THIS GUARANTY OR THE TRANSACTIONS CONTEMPLATED HEREBY, 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.
(B)    IN THE EVENT ANY SUCH CLAIM OR CAUSE OF ACTION IS BROUGHT OR FILED IN ANY UNITED STATES FEDERAL COURT SITTING IN THE STATE OF CALIFORNIA OR IN ANY STATE COURT OF THE STATE OF CALIFORNIA, AND THE WAIVER OF JURY TRIAL SET FORTH IN SECTION 4.12(A) IS DETERMINED OR HELD TO BE INEFFECTIVE OR UNENFORCEABLE, THE PARTIES AGREE THAT ALL CLAIMS AND CAUSES OF ACTION SHALL BE RESOLVED BY REFERENCE TO A PRIVATE JUDGE SITTING WITHOUT A JURY, PURSUANT TO CALIFORNIA CODE OF CIVIL PROCEDURE SECTION 638, BEFORE A MUTUALLY ACCEPTABLE REFEREE OR, IF THE PARTIES CANNOT AGREE, A REFEREE SELECTED BY THE PRESIDING JUDGE OF THE SANTA CLARA COUNTY, CALIFORNIA.  SUCH PROCEEDING SHALL BE CONDUCTED IN SANTA CLARA COUNTY, CALIFORNIA, WITH CALIFORNIA RULES OF EVIDENCE AND DISCOVERY APPLICABLE TO SUCH PROCEEDING.   IN THE EVENT CLAIMS OR CAUSES OF ACTION ARE TO BE RESOLVED BY JUDICIAL REFERENCE, ANY PARTY MAY SEEK FROM ANY COURT HAVING JURISDICTION THEREOVER ANY PREJUDGMENT ORDER, WRIT OR OTHER RELIEF AND HAVE SUCH PREJUDGMENT ORDER, WRIT OR OTHER RELIEF ENFORCED TO THE FULLEST EXTENT PERMITTED BY LAW NOTWITHSTANDING THAT ALL CLAIMS AND CAUSES OF ACTION ARE OTHERWISE SUBJECT TO RESOLUTION BY JUDICIAL REFERENCE.
1.13Reinstatement in Certain Circumstances.  If at any time any payment of the principal of or interest under the Loan Agreement or any other amount payable by the Borrower under the Loan Documents is rescinded or must be otherwise restored or returned upon the insolvency, bankruptcy or reorganization of the Borrower or otherwise, the Guarantor’s obligations hereunder with respect to such payment shall be reinstated as though such payment has been due but not made at such time.
[Signature page follows]
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EXECUTED as of the day and year first above written.
GUARANTORS:

COGNICAL, INC., a Delaware corporation

By: _/s/ Orlando Zayas_______________
Name: Orlando Zayas
Title: Chief Executive Officer

500 7th Avenue, 8th Floor
New York, NY 10018
Attention: Orlando Zayas
Telephone: (833) 449-4229

COGNICAL HOLDINGS, INC., a Delaware corporation

By: _/s/ Orlando Zayas_______________
Name: Orlando Zayas
Title: Chief Executive Officer

500 7th Avenue, 8th Floor
New York, NY 10018
Attention: Orlando Zayas
Telephone: (833) 449-4229

-13-Document

Execution Version 

CORPORATE GUARANTY AND SECURITY AGREEMENT
This CORPORATE GUARANTY AND SECURITY AGREEMENT, dated as of December 4, 2020 (this “Guaranty”) is made by each of KATAPULT GROUP, INC., a Delaware corporation and KATAPULT HOLDINGS, INC., a Delaware corporation (collectively, “Guarantor”), in favor of MIDTOWN MADISON MANAGEMENT LLC, a Delaware limited liability company, in its capacity as administrative, payment and collateral agent for itself and each of the other financial institutions from time to party to the hereinafter defined Loan Agreement as Lenders (“Lenders”) (in such capacities, “Agent”) for the benefit of itself and each Lender.   
W I T N E S S E T H :
WHEREAS, KATAPULT SPV-1 LLC, a Delaware limited liability company (“Borrower”) and Guarantor are party to that certain Loan and Security Agreement dated as of May 14, 2019 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Loan Agreement”; capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Loan Agreement) with Agent and Lenders, pursuant to which the Lenders have agreed, among other things, to make available to Borrower a senior secured revolving loan facility in the maximum principal amount of up to the Maximum Revolving Loan Amount and a senior secured term loan facility in the maximum principal amount of $50,000,000.00, subject to the terms and conditions set forth in the Loan Agreement; and
WHEREAS, Katapult Holdings, Inc. and Katapult Group, Inc. are either direct or indirect parents of Borrower and hereby acknowledge that they will benefit from the transactions contemplated by the Loan Agreement; and
WHEREAS, it is a condition precedent to the effectiveness of the Ninth Amendment that Guarantor shall have executed and delivered this Guaranty in favor of and for the benefit of Agent, for the benefit of itself and the Lenders;
NOW, THEREFORE, in consideration of the promises contained herein, and for good and valuable consideration, the sufficiency of which is hereby acknowledged, and to induce the Lenders to make the Advances to Borrower thereunder, Guarantor hereby agrees as follows:
SECTION 1.Guaranty.  
(a)  Guarantor hereby, unconditionally and irrevocably (i) guarantees to Agent, for the ratable benefit of the Lenders, the prompt and complete payment and performance when due (whether at stated maturity, by acceleration or otherwise) of all of the Obligations and (ii) agrees to pay all costs and expenses incurred by Agent (including, without limitation, the reasonable and documented fees and disbursements of external counsel and other professionals) in connection with (A) enforcing or defending its rights under or in respect of this Guaranty or any other Loan Document or (B) collecting the Obligations or otherwise administering this Guaranty (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C., 88 362(a)) (collectively, the “Guaranteed Obligations”).
(b)  Subject to Section 5, Guarantor hereby agrees, in furtherance of the foregoing and not in limitation of any other right which Agent or any Lender may have at law or in equity against Guarantor by virtue hereof, that upon the failure of Borrower to pay any of the Guaranteed Obligations when and as the same shall become due, whether at stated maturity, by 

required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C., 88 362(a)), Guarantor will upon demand pay, or cause to be paid, in cash, to Agent for the ratable benefit of Lenders, an amount equal to the sum of the unpaid principal amount of all Guaranteed Obligations then due as aforesaid, accrued and unpaid interest on such Guaranteed Obligations (including interest which, but for Borrower becoming the subject of a case under the Bankruptcy Code, would have accrued on such Guaranteed Obligations, whether or not a claim is allowed against Borrower for such interest in the related bankruptcy case) and all other Guaranteed Obligations then owed to Lenders as aforesaid.  Guarantor hereby agrees that all payments hereunder will be paid to Agent without setoff, deduction or counterclaim at the office of Agent located at the address specified in Section 12.5 of the Loan Agreement in U.S. dollars and in immediately available funds.
SECTION 2.Guaranty Absolute.  Guarantor guarantees that the Guaranteed Obligations will be paid strictly in accordance with the terms of the Loan Agreement, the Notes and the other Loan Documents regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of Agent or any Lender with respect thereto.  Guarantor agrees that this Guaranty is a guaranty of payment and performance when due and not of collectability.  This Guaranty is a primary obligation of Guarantor and not merely a contract of surety.  The liability of Guarantor under this Guaranty shall be absolute, irrevocable and unconditional irrespective of:
(a)  any lack of genuineness, validity, regularity or enforceability of the Loan Agreement or any other Loan Document;
(b)  any lack of validity, regularity or enforceability of this Guaranty;
(c)  any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to departure from the Loan Agreement, the Guaranty or any other Loan Document;
(d)  any exchange, release or non-perfection of any security interest in any collateral, or any release or amendment or waiver of or consent to departure from any other guaranty, for all or any of the Obligations;
(e)  the insolvency of Borrower or any Guarantor or any Indemnity Guarantor;
(f)  any failure on the part of Agent or any other Person to exercise, or any delay in exercising, any right under the Loan Agreement or any other Loan Document; or 
(g)  any other circumstance which might otherwise constitute a defense available to, or a discharge of, Borrower or any Guarantor or Indemnity Guarantor with respect to the Guaranteed Obligations (including, without limitation, all defenses based on suretyship or impairment of collateral, and all defenses that Borrower may assert to the repayment of the Guaranteed Obligations, including, without limitation, failure of consideration, breach of warranty, payment, statute of frauds, bankruptcy, lack of legal capacity, statute of limitations, lender liability, accord and satisfaction, and usury), this Guaranty and the obligations of Guarantor under this Guaranty.
Guarantor hereby agrees that if Borrower or any Guarantor or any Indemnity Guarantor is the subject of a bankruptcy case under the Bankruptcy Code, it will not assert the pendency of such case or any order entered therein as a defense to the timely payment of the 

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Guaranteed Obligations.  Guarantor hereby waives notice of or proof of reliance by Agent or any Lender upon this Guaranty, and the Guaranteed Obligations shall conclusively be deemed to have been created, contracted, incurred, renewed, extended, amended or reduced (as to Borrower only) in reliance upon this Guaranty.  Guarantor hereby agrees that this Guaranty is a guaranty of payment and not simply collection.
Guarantor recognizes and agrees that Borrower, after the date hereof, may incur additional Indebtedness or other obligations, fees and expenses to Agent or the Lenders under the Loan Agreement, refinance existing Guaranteed Obligations or pay existing Guaranteed Obligations and subsequently incur additional Indebtedness to Agent or the Lenders under the Loan Agreement, and that in any such transaction, even if such transaction is not now contemplated, Agent or the Lenders will rely in any such case upon this Guaranty and the enforceability thereof against Guarantor and that this Guaranty shall remain in full force and effect with respect to such future Indebtedness of Borrower to Agent or the Lenders.
SECTION 3.Interests.  Guarantor hereby acknowledges that the rates of interest applicable to the Guaranteed Obligations shall be computed on the basis of a year of 360 days, and paid for the actual number of days elapsed in accordance with Section 2.2 of the Loan Agreement.  
SECTION 4.Fraudulent Conveyance.  Notwithstanding any provision of this Guaranty to the contrary, it is intended that this Guaranty, and any Liens granted by Guarantor to secure the obligations and liabilities arising pursuant to this Guaranty, not constitute a “Fraudulent Conveyance” (as defined below).  Consequently, Guarantor agrees that if this Guaranty, or any Liens securing the obligations and liabilities arising pursuant to this Guaranty, would, but for the application of this sentence, constitute a Fraudulent Conveyance, this Guaranty and each such Lien shall be valid and enforceable only to the maximum extent that would not cause this Guaranty or such Lien to constitute a Fraudulent Conveyance, and this Guaranty shall automatically be deemed to have been amended accordingly at all relevant times.  For purposes hereof, “Fraudulent Conveyance” means a fraudulent conveyance or fraudulent transfer under Section 548 of the Bankruptcy Code or a fraudulent conveyance or fraudulent transfer under the provisions of any applicable fraudulent conveyance or fraudulent transfer law or similar law of any state of the United States, as in effect from time to time.
SECTION 5.Waiver.  Guarantor hereby waives, for the benefit of Agent and Lenders (a) any right to require Agent or any Lender, as a condition of payment or performance by Guarantor, to (i) proceed against Borrower, any other guarantor of the Guaranteed Obligations or any other Person, (ii) proceed against or exhaust any security held from Borrower, any such other guarantor of all or any portion of the Obligations or any other Person, (iii) proceed against or have resort to any balance of any deposit account or credit on the books of Agent or any Lender in favor of Borrower or any other Person or (iv) pursue any other remedy in the power of Agent or any Lender whatsoever; (b) any defense arising by reason of the incapacity, lack of authority or any disability or other defense of Borrower or any other guarantor including any defense based on or arising out of the lack of validity or the unenforceability of the Guaranteed Obligations or any agreement or instrument relating thereto or by reason of the cessation of the liability of Borrower or any other guarantor of all or any of the Guaranteed Obligations from any cause other than payment in full of the Guaranteed Obligations; (c) any defense based upon any statute or rule of law which provides that the obligation of a surety must be neither larger in amount nor in other respects more burdensome than that of the principal; (d) any defense based upon Agent or any Lender’s errors or omissions in the administration of the Guaranteed Obligations; (e)(i) any principles or provisions of law, statutory or otherwise, which are or might be in conflict with the terms hereof and any legal or equitable discharge of Guarantor’s obligations hereunder, (ii) the benefit of any statute of limitations affecting Guarantor’s liability 

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hereunder or the enforcement hereof, (iii) any rights to set-offs, recoupments and counterclaims, and (iv) promptness, diligence and any requirement that any beneficiary protect, secure, perfect or insure any security interest or lien or any property subject thereto; (f) notices, demands, presentments, protests, notices of protest, notices of dishonor and notices of any action or inaction, including acceptance hereof, notices of default hereunder, or any other Loan Document, notices of any renewal, extension or modification of the Guaranteed Obligations or any Loan Document, notices of any extension of credit to Borrower and notices of any of the matters referred to in Section 2 and any right to consent to any thereof; and (g) any defenses or benefits that may be derived from or afforded by law which limit the liability of or exonerate guarantors or sureties, or which may conflict with the terms hereof.
SECTION 6.Security Interest. As additional security for the Obligations, Guarantor hereby grants to Agent, for the benefit of itself and the other Lenders a first priority security interest in all of Guarantor's right, title and interest in and to all of the Guarantor’s assets, wherever located and whether now or hereafter owned or acquired, including, but not limited to the following assets (collectively, the “Collateral”): (a) all Accounts, (b) Chattel Paper, (c) Commercial Tort Claims, (d) Deposit Accounts, (e) Documents, (f) Equipment, (g) General Intangibles, (h) Goods (including but not limited to all files, correspondence, computer programs, tapes, disks and related data processing software which contain information identifying or pertaining to any of the Collateral or any Account Lessee or showing the amounts thereof or payments thereon or otherwise necessary or helpful in the realization thereon or the collection thereof, (i) Inventory, (j) Investment Property, (k) letters of credit and Letter of Credit Rights, (l) all Supporting Obligations and (m) all cash and non-cash proceed of the foregoing (including insurance proceeds). Upon the occurrence of an Event of Default under the Loan Agreement or any breach or default by Guarantor under this Guaranty, Agent shall have all the rights of a secured party under applicable law, and more specifically under the Uniform Commercial Code (in effect in the State of New York) and shall have all the rights and remedies set forth in the Loan Agreement. In addition and without limitation, Agent may, without notice to or demand upon Guarantor at any time following the occurrence and during the continuance of an Event of Default take possession of the Collateral, and for that purpose Agent may enter upon any premises on which the Collateral may be situated and remove the same therefrom and may require Guarantor to assemble all or any part of the Collateral at such location or locations within the jurisdiction(s) of Guarantor's principal office or at such other locations as Agent may reasonably designate. Unless the Collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, Agent shall give Guarantor at least ten (10) Business Days prior written notice of the time and place of any public sale of Collateral or of the time after, which any private sale or any other intended disposition is to be made (it being understood, for the avoidance of doubt that the Agent shall not take any action to effect any such sale unless an Event of Default shall have occurred and be continuing). Guarantor hereby acknowledges that ten (10) Business Days prior written notice of such sale or sales shall be reasonable notice. In addition, Guarantor waives any and all rights that it may have to a judicial hearing in advance of the enforcement of any of Agent’s rights hereunder following the occurrence and during the continuance of an Event of Default, including, without limitation, its right following an Event of Default to take immediate possession of the Collateral and to exercise its rights with respect thereto. In addition, Agent shall have and may exercise any or all other rights and remedies it may have available at law, in equity, or otherwise. All of Agent’s rights and remedies, whether evidenced by this Guaranty, the Loan Agreement or any other writing, shall be cumulative and may be exercised singularly or concurrently. Election by Agent to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Guarantor under this Guaranty, after Guarantor's failure to perform, shall not affect Agent’s right to declare a default and to exercise its remedies.  Guarantor hereby authorizes Agent to prepare and file financing statements provided for by the UCC with all appropriate jurisdictions to perfect or protect the Lenders’ 

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security interest or rights hereunder, and to take such other action as may be required, in Agent’s Permitted Discretion, in order to perfect and to continue the perfection of Agent’s Lien on the Collateral, for the benefit of itself and the other Lenders, including a notice that any disposition of the Collateral, by either the Guarantor or any other Person, shall be deemed to violate the rights of the Lender under the UCC.  Such financing statements may indicate the Collateral as “all assets of the Debtor” or words of similar effect, or as being of an equal or lesser scope, or with greater detail, all in the Agent’s sole discretion. 
SECTION 7.Subrogation; Subordination.  Guarantor hereby agrees that it will not exercise or assert any rights or claims which it may acquire against Borrower or any other guarantor of all or part of the Guaranteed Obligations that arise from the existence, payment, performance or enforcement of its obligations hereunder (including, without limitation, any rights or claims of subrogation, reimbursement or contribution), until the indefeasible payment in full in cash, of all the Guaranteed Obligations, the termination of the Loan and termination of this Guaranty, the Loan Agreement and the other Loan Documents.  If any amount shall be paid to Guarantor in violation of the immediately preceding sentence, such amount shall be held in trust for the benefit of Agent and shall forthwith be paid to Agent for the ratable benefit of the Lenders to be credited and applied against the Guaranteed Obligations and all other amounts payable under Section 1(a)(ii), whether matured or unmatured, in such order as Agent may determine.  Any Indebtedness of Borrower or any other guarantors of the Obligations now or hereafter held by Guarantor (the “Obligee Guarantor”) is hereby expressly and fully subordinated in right of payment to the Guaranteed Obligations, and any such indebtedness collected or received by Guarantor after an Event of Default has occurred and is continuing shall be held in trust for Agent on behalf of Lenders and shall forthwith be paid over to Agent for the benefit of Lenders to be credited and applied against the Guaranteed Obligations but without affecting, impairing or limiting in any manner the liability of Guarantor under any other provision hereof.
SECTION 8.Representations and Warranties.  
(a)  Guarantor (i) is a corporation, duly incorporated, validly existing and in good standing under the laws of its state of organization, (ii) has all requisite power and authority to own its properties and assets and to carry on its business as now being conducted and to execute, deliver and perform this Guaranty and the other Loan Documents to which it is a party and (iii) is duly qualified to do business in all of the jurisdictions in which failure to so qualify could reasonably be likely to have or result in a Material Adverse Effect.
(b)  Guarantor has, independently and without reliance upon Agent or any Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Guaranty.
(c)  Guarantor is not an "investment company" registered or required to be registered under the Investment Company Act of 1940, as amended, nor controlled by such an "investment company."  No transaction contemplated in this Guaranty or the other Loan Documents requires compliance with any bulk sales act or similar law.
(d)  The execution, delivery and performance by Guarantor of this Guaranty and the consummation by Guarantor of the transactions contemplated thereby, (a) have been duly authorized by all requisite action of Guarantor and have been duly executed and delivered by Guarantor; (b) do not violate any provisions of (i) any Applicable Law, (ii) any order of any Governmental Authority binding on Guarantor or any of its respective properties, or (iii) the certificate of incorporation or by-laws of Guarantor, or any agreement between Guarantor and its equity owners or among any such equity owners, in each case the effect of 

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which could reasonably be expected to be, have or result in a Material Adverse Effect; (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, would constitute or result in a conflict, breach, default or event of default under, any indenture, agreement or other instrument to which Guarantor is a party, or by which the properties or assets of Guarantor are bound, the effect of which could reasonably be expected to be, have or result in a Material Adverse Effect; (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 Guarantor , 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.  When executed and delivered, this Guaranty will constitute the legal, valid and binding obligation of each party signatory hereto enforceable against such parties 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).  
(e)  Guarantor is not (a) a party to any judgment, order or decree or any agreement, document or instrument, or subject to any restriction, which would have a Material Adverse Effect on its ability to execute and deliver, or perform under, this Guaranty or fulfill the Guaranteed 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, if not remedied within any applicable grace or cure period, could reasonably be expected to be, have or result in a Material Adverse Effect.
(f)  All deposit accounts, securities accounts and investment accounts of Guarantor are set forth on Schedule 9(f) hereof.  Guarantor shall not open any new deposit account, securities account or investment account other than any such account that is an Excluded Deposit Account unless (i) Guarantor shall have given at least thirty (30) days prior written notice to Agent and (ii) Guarantor and Agent shall first have entered into an account control agreement in form and substance satisfactory to Agent sufficient to give Agent “control” (for purposes of Articles 8 and 9 of the Uniform Commercial Code) over such account (other than an account that is an Excluded Deposit Account).
SECTION 9.Release of Collateral. So long as no Default or Event of Default has occurred and is continuing, upon request of Guarantor, 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, as determined by Agent in its sole discretion.  Subject to Section 12.3 of the Loan Agreement, promptly following indefeasible payment in full in cash of all Obligations (other than indemnity obligations under the Loan Documents that are not then due and payable or with respect to which no claim has been made) and the termination of the Loan Agreement, the Liens created hereby shall terminate and Agent shall execute and deliver such documents, at Guarantor’s expense, as are necessary to release Agent’s Liens in the Collateral and shall return or cause the return of or consent to the return of the Collateral to Guarantor; 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 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 

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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. Section 12.9 of the Loan Agreement shall not be applicable to any actions required to be taken by the Agent under this Section.   
SECTION 10.Right of Setoff.  In addition to and not in limitation of all rights of offset that Agent and its Affiliates may have under Applicable Law, provided that Agent has made prior demand (on behalf of itself and the Lenders) and the obligations of Guarantor have matured, upon the occurrence and during the continuation of any Event of Default, Agent and its Affiliates shall have the right to set off and apply any and all deposits (general or special, time or demand, provisional or final, or any other type) at any time held and any other Indebtedness at any time owing by Agent and its Affiliates to or for the credit or the account of Guarantor against any and all of the Guaranteed Obligations then due and payable.  If Agent exercises any of its rights under this Section 10, Agent shall provide notice to Borrower of such exercise, provided that the failure to give such notice shall not affect the validity of the exercise of such rights.
SECTION 11.Survival of Provisions.  All covenants, representations, warranties and waivers and indemnities made by Guarantor under this Guaranty shall survive the execution, delivery, and termination of this Guaranty until the indefeasible payment in full in cash, of all the Guaranteed Obligations, the termination of the Revolving Loan Commitments and the Term Loan Commitments and termination of this Guaranty, the Loan Agreement and the other Loan Documents.
SECTION 12.Amendments, Waivers and Consents.  No amendment or waiver of any provision of this Guaranty, or consent to any departure by Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by Agent and Guarantor, and then such amendment, waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.
SECTION 13.Delays; Partial Exercise of Remedies.  No delay or omission of Agent to exercise any right or remedy hereunder shall impair any such right or operate as a waiver thereof.  No single or partial exercise by Agent of any right or remedy shall preclude any other or further exercise thereof, or preclude any other right or remedy.
SECTION 14.Facsimile Signature.  This Guaranty may be executed and delivered by facsimile or other electronic transmission all with the same force and effect as if the same was a fully executed and delivered original manual counterpart. The words “execution,” “executed”, “signed,” “signature,” and words of like import in this Guaranty shall be deemed to include electronic signatures, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature. 
SECTION 15.Interpretation.  All terms not defined herein or in the Loan Agreement shall have the meaning set forth in the UCC, except where the context otherwise requires.  To the extent a term or provision of this Guaranty conflicts with the Loan Agreement and is not addressed herein with more specificity, the Loan Agreement shall control with respect to the subject matter of such term or provision.
SECTION 16.Continuing Guaranty; Assignments of Guaranteed Debt.  This Guaranty is a continuing guaranty and shall (a) remain in full force and effect until the earlier of (i) the payment in full in cash of all Obligations (other than indemnity obligations under the Loan Documents that are not then due and payable or with respect to which no claim has been made) 

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and the termination of the Loan Agreement or (ii) this Guaranty is released in accordance herewith, (b) be binding upon Guarantor and its successors and assigns, and (c) inure, together with the rights and remedies of Agent and the Lenders hereunder, to its own benefit and to its successors and assigns.  Without limiting the generality of the foregoing clause (c), Agent may, in accordance with the terms of the Loan Agreement, assign or otherwise transfer all or any portion of its rights and obligations under the Loan Agreement to any successor agent, and such successor agent shall thereupon become vested with all the benefits in respect hereof granted to Agent herein or otherwise, in each case as provided in the Loan Agreement.  Guarantor may not, without the consent of Agent, assign or transfer any of its rights and obligations hereunder or any interest herein.  
SECTION 17.Reinstatement.  To the extent permitted by law, this Guaranty and the Guaranteed Obligations shall be reinstated if at any time any amount received by Agent or any Lender in respect of the Guaranteed Obligations is rescinded or must otherwise be restored or returned by Agent or such Lender upon the occurrence or during the pendency of any bankruptcy, reorganization or other similar proceeding applicable to Guarantor, or upon or during the occurrence of any dissolution, liquidation or winding up of Guarantor, all as though such amount had not been received.
SECTION 18.Bankruptcy, etc.  
(a)  The obligations of Guarantor hereunder shall not be reduced, limited, impaired, discharged, deferred, suspended or terminated by any case or proceeding, voluntary or involuntary, involving the bankruptcy, insolvency, receivership, reorganization, liquidation or arrangement of Borrower or any Guarantor or by any defense which Borrower or any Guarantor may have by reason of the order, decree or decision of any court or administrative body resulting from any such proceeding.
(b)  Guarantor acknowledges and agrees that any interest on any portion of the Guaranteed Obligations which accrues after the commencement of any case or proceeding referred to in clause (a) above (or, if interest on any portion of the Guaranteed Obligations ceases to accrue by operation of law by reason of the commencement of such case or proceeding, such interest as would have accrued on such portion of the Guaranteed Obligations if such case or proceeding had not been commenced) shall be included in the Guaranteed Obligations because it is the intention of Guarantor and the Lenders that the Guaranteed Obligations which are guaranteed by Guarantor pursuant hereto should be determined without regard to any rule of law or order which may relieve Borrower of any portion of such Guaranteed Obligations. Guarantor will permit any trustee in bankruptcy, receiver, debtor in possession, assignee for the benefit of creditors or similar person to pay Agent, or allow the claim of Agent in respect of, any such interest accruing after the date on which such case or proceeding is commenced.
SECTION 19.Financial Condition of Borrower.  Any Advance may be made to Borrower or continued from time to time, without notice to or authorization from Guarantor regardless of the financial or other condition of Borrower at the time of any such grant or continuation.  Neither Agent nor any Lender shall have any obligation to disclose or discuss with Guarantor its assessment of the financial condition of Borrower.  Guarantor has adequate means to obtain information from Borrower on a continuing basis concerning the financial condition of Borrower and its ability to perform their respective obligations under the Loan Documents, and Guarantor assumes the responsibility for being and keeping informed of the financial condition of Borrower and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations.  Guarantor hereby waives and relinquishes any duty on the part of Agent or any 

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Lender to disclose any matter, fact or thing relating to the business, operations or conditions of Borrower now known or hereafter known by Agent or any Lender. 
SECTION 20.Sections 10.3, 12.1, 12.4, 12.5 and 12.6 of the Loan Agreement are hereby incorporated by reference mutatis mutandis, with (i) each reference to “Borrower” being a reference to “Guarantor” and (ii) each reference to “Agreement” being a reference to this Guaranty.
SECTION 21.Entire Agreement; Successors and Assigns.  This Guaranty constitutes the entire agreement between the parties, supersedes any prior written and verbal agreements between them, and shall bind and benefit the parties and their respective successors and permitted assigns.
SECTION 22. [RESERVED].
[REMAINDER OF PAGE INTENTIONALLY BLANK; SIGNATURE PAGE FOLLOWS]

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IN WITNESS WHEREOF, Guarantor has caused this Guaranty to be executed by its proper and duly authorized officer as of the date first set forth above.
                            
KATAPULT GROUP, INC.

By:  _/s/ Orlando Zayas_______________
Name: Orlando Zayas
Title:   Chief Executive Officer

                        KATAPULT HOLDINGS, INC.

By:  _/s/ Orlando Zayas_______________
Name:     Orlando Zayas
Title:   Chief Executive Officer
[Signature Page to Corporate Guaranty]

Schedule 9(f)

Katapult Group, Inc.

						
	Bank Name	Account

	Silicon Valley Bank
	*3302996311: Katapult Group, Inc. – OPERATING ACCOUNT

	Silicon Valley Bank
	 *3302996326: Katapult Group, Inc. – PURCHASING ACCOUNT

	Silicon Valley Bank
	*3302996345: Katapult Group, Inc. – RESERVE ACCOUNT

	Silicon Valley Bank
	*3302996330: Katapult Group, Inc. – INTEREST RESERVE ACCOUNT

	Silicon Valley Bank
	*3302893366- COLLATERAL MMA1

Katapult Holdings, Inc.

						
	Bank Name	Account

	Silicon Valley Bank
	*3302057030: Katapult Holdings, Inc. – OPERATING ACCOUNT

	Silicon Valley Bank
	*3302721685: Katapult Holdings, Inc. – RESERVE ACCOUNT

	Silicon Valley Bank
	*3302706538: Katapult Holdings, Inc. – INTEREST RESERVE ACCOUNT

1 This account is an Excluded Account.

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