Document:

Exhibit
10.2

 

Progress
Payment Note and Reimbursement Agreement

 

 

	$2,500,000.00	Bloomfield
    Hills, Michigan
	 	June
    22, 2017

 

This
Progress Payment Note and Reimbursement Agreement (“Agreement”) is dated as of the above-stated date
between Convergent Media Systems Corporation, a Georgia corporation (“Lessee”), with its principal office
and initial address for notice at 190 Bluegrass Valley Pkwy., Alpharetta, GA 30005, and Huntington Technology Finance, Inc., a
Delaware corporation (“Lessor”), with its principal office, initial address for notice, and initial
address for payments at 2285 Franklin Rd., Suite 100, Bloomfield Hills, MI 48302.

 

Whereas:

 

	A.	Lessee
    and LG-MRI LLC (“Seller”) are parties to Lessee’s Purchase Order No. POP00026560 dated April
    28, 2017, Revision No. 1 (collectively with any other agreement between Lessee and Seller, “Purchase Documents”),
    providing for Lessee’s purchase from Seller of 300 vehicle top displays and multi-purpose antennas and certain non-recurring
    engineering services and spares to be supplied by Seller (collectively, “Equipment”) for a total
    purchase price of $5,628,885.26 (“Total Price”). Seller requires that Lessee make a progress payment
    toward payment of the Total Price in the amount of $2,500,000 (the “Progress Payment”). Seller invoiced
    Lessee for a progress payment in a previous amount under Seller’s Invoice No. 170508-01M dated May 8, 2017, and will
    issue a complete and correct replacement invoice or amendment to the previously issued invoice to bill Lessor or Lessee for
    the Progress Payment (“Progress Payment Invoice”).

 

	B.	 	Lessee,
    Lessor, and Seller are parties to an Assignment of Purchase Agreement dated June 22, 2017 (“Assignment”)
    pursuant to which Lessee assigned all of its right, title, and interest in and under the Purchase Documents and the Equipment
    to Lessor, but not any of Lessee’s obligations, other than the obligation to pay the Total Price, subject to the conditions
    stated therein, including paying the Progress Payment Invoice to Seller when the conditions thereto are fulfilled.
	 	 	 
	C.	 	Lessee
    and Lessor are parties to the Master Equipment lease Agreement dated May 19, 2017 (“Master Lease”)
    pursuant to which Lessee and Lessor intend to enter into schedules providing for the lease of the Equipment (together with
    certain other equipment and/or related soft cost items, “Other Items”) (a Schedule, together with
    the Master Lease as applicable to and incorporated therein, a “Lease”).
	 	 	 
	D.	 	Lessee
    is making this Agreement in consideration of the foregoing, and for other good and valuable consideration, the sufficiency
    and receipt of which is hereby acknowledged, to facilitate Lessor’s advancing the Progress Payment to Seller and to
    memorialize Lessee’s undertaking to repay the Progress Payment to Lessor.

 

Therefore:

 

	1.	Principal.
    Lessee hereby promises to pay to the order of Lessor, at Lessor’s initial address for payment stated above, or such
    other place as the holder of this Agreement may from time to time designate in writing, the principal sum of $2,500,000 to
    be paid or unconditionally undertaken to be paid by Lessor to Seller when the conditions to the making of such payment as
    set forth in the Assignment are fulfilled, and which payment or undertaking shall constitute an advance of funds to Lessee
    to be repaid under the terms of this Agreement. The principal balance from time to time outstanding under this Agreement shall
    bear interest from the date Lessor remits to Seller the principal amount under this Agreement at the rate of 33⁄4% per
    annum, or at such lesser rate as may be the lawful maximum, calculated on the basis of a 360-day year comprising twelve 30-day
    months.

 

    	 	Page 1 of 8 	 

     

    

 

 

	2.	Payment
    of Principal and Interest. The principal balance of this Agreement to the extent (and only to the extent) ratably associated
    with the Progress Payment for any Equipment (“Applicable Equipment”), but not any then-accrued interest,
    shall be considered repaid under this Agreement, only if and when Lessor or its Financer (as defined in the Lease) pay Seller
    the remaining balance of the Total Price ratably associated with the Applicable Equipment (“Final Payment”).
    Neither Lessor nor its Financer will have any obligation to pay the Final Payment to Seller before:

 

	 	(a)	Lessee
    and Lessor duly execute a Lease for the Applicable Equipment in the form of Exhibit A hereto or such other form as the parties
    may agree upon (“Applicable Lease”) with:

 

	 	(i)	the
    Lessor’s Basis for the Applicable Equipment under the Applicable Lease being the Total Price of the Applicable Equipment;
	 	 	 
	 	(ii)	the
    Rental Payment for the Applicable Equipment under the Applicable Lease being the Lessor’s Basis multiplied by Applicable
    Lease Rate Factor, where: (A) the “Applicable Lease Rate Factor” means the Initial Lease Rate Factor
    as adjusted by Lessor, as of the date Lessor receives the executed Lease for the Applicable Equipment and all other conditions
    to the payment of the Final Payment are fulfilled, to reflect any increase in the Applicable Rate from the rate with reference
    to which Lessor established the Initial Lease Rate Factor, or any change in the ratio of hardware to non-hardware, in each
    case using the same methodology, spreads, and assumptions originally used by Lessor in establishing the Initial Lease Rate
    Factor; (B) the “Initial Lease Rate Factor” means 0.0174546, which factors were originally established
    by Lessor with reference to an Applicable Rate of 2.15%, and assumes that not more than 5.6% of the Lessor’s Basis represents
    non-hardware or soft cost items; and (C) the “Applicable Rate” means the rate of 5-year interest
    rate swaps as reported by the Intercontinental Exchange (currently available as USD Rates 1100 Series at https://‌www.theice.com/‌marketdata/‌reports/‌180)
    or other sources Lessor reasonably deems reliable for the most recently reported business day occurring on or before the
    adjustment date; and
	 	 	 
	 	(iii)	any
    Other Items shall have a Lessor’s Basis and Rental Payment being similarly determined from the cost thereof and the
    Applicable Lease Rate Factor;

 

	 	(b)	Lessee
    receives and inspects the Applicable Equipment, irrevocably and unconditionally accepts and provides Lessor with a satisfactory
    acceptance certificate for the Applicable Equipment under the Applicable Lease (“Applicable Acceptance Certificate”).
	 	 	 
	 	(c)	Lessee
    is in full compliance with (and not in default under) the Applicable Lease.
	 	 	 
	 	(d)	There
    shall not have occurred in Lessor’s or its Financer’s (as defined in Exhibit A) absolute opinion a material adverse
    change in the financial condition, business, or prospects of Lessee after the date of the financial information used by Lessor
    or its Financer in evaluating and/or approving and/or preliminarily approving Lessee’s credit in connection with the
    Applicable Lease.
	 	 	 
	 	(e)	Lessor
    receives satisfactory evidence of the names, titles, signatures, and authority of the persons signing on behalf of Lessee
    the Master Lease, the Lease, the Applicable Acceptance Certificate, and any acknowledgment of assignment in favor of Lessor’s
    Financer.

 

    	 	Page 2 of 8 	 

     

    

 

	 	(f)	Any
    and all other conditions to Lessor’s leasing of the Applicable Equipment under the Applicable Lease, and payment to
    Seller therefor, under this Agreement, the Assignment, or the Lease, shall have been fulfilled.

 

The
parties presently anticipate that they will enter into 4 Leases to cover all of the Equipment, each cover approximately 1⁄4
of the Equipment. However, the amount of Equipment under each Lease, and whether fewer or more Leases must be entered into shall
be determined in Lessor’s sole discretion, including as it may consider necessary or convenient to facilitate the funding
or financing of the Leases with its Financer(s), and/or the timing thereof.

 

The
entirety of the outstanding principal balance of this Agreement not considered repaid pursuant to the foregoing on or before August
31, 2017 as further provided in this section shall be due on demand. All interest at any time accrued and unpaid under
this Agreement shall be due on demand.

 

	3.	Unconditional
    Obligation. All payments of principal and interest under this Agreement shall be absolute and unconditional and paid by
    Lessee without abatement, reduction, offset, recoupment, compensation, crossclaim, counterclaim, or any other defense whatsoever,
    arising under this Agreement, any Lease, or otherwise, or against Lessor, Lessor’s Financers or other assignees, Seller,
    the Equipment’s manufacturer, or any other person. Without limiting the generality of the foregoing, all payments shall
    be made under this Agreement regardless of, and Lessee specifically shall at all times bear all risk of: (a) loss or taking
    of or damage to or non-delivery or non-provision of any or all Equipment, including, without limitation, as a result of the
    inability of Seller, or any manufacturer(s) of Equipment, or any of Seller’s suppliers, to deliver or provide any Equipment
    due to financial inability, lack of creditworthiness or credit availability, bankruptcy, receivership, improper management,
    inability to obtain sufficient labor, force majeure, legal inability or prohibition, war or act of war (whether or not war
    is declared), insurrection, riot, civil disturbance or commotion, labor dispute or shortage, strike, act of public enemy,
    accident, fire, flood or other act of God, act of any governmental authority or other third party, judicial action, short
    or reduced supply of energy, fuel, raw materials, or components, or technical inability or failure, or for any other reason
    whatsoever, whether nor not within the control of any person, and whether or not similar to the risks described in this Agreement,
    (b) nonconformance of the Equipment with specifications or requirements or applicable laws or any applicable agreements (whether
    or not Lessee is a party thereto), (c) the lack of fitness of the Equipment for any particular or intended use by Lessee,
    (d) the Equipment not being merchantable or provided in a good or workmanlike manner, or (e) in general, the Equipment being
    in any way or for any reason unavailable or unacceptable to Lessee, or any other circumstance subsisting, so as to prevent
    Lessee or Lessor from (or hinder the) entering into of a Lease therefor, Lessee’s accepting the Equipment thereunder,
    and Lessee’s executing an acceptance certificate with respect thereto, and/or so as to prevent (or hinder) the satisfaction
    of any other conditions to Lessor’s obligations with respect to any Equipment or Lease (including such as may relate
    a Financer or Lessor’s transaction with a Financer).
	 	 
	4.	Covenants.
    So long as any amounts are outstanding hereunder, Lessee will furnish Lessor with its annual certified or audited and quarterly
    financial statements (at any time that its current financial statements are not readily available on the internet through
    a free governmental website).
	 	 
	5.	Disclaimer.
    As between Lessee and Lessor, Lessee’s right, title, and interest in the Equipment is As-Is, Where-Is, and without
    recourse to Lessor. Lessor will not be considered to have made any statement, representation, warranty, or promise made
    by Seller, and neither Seller nor Lessor shall be considered to be an agent of the other. Lessor will have no liability to
    Lessee, or its customers, or any other persons, for damages or specific performance arising out of this Agreement or the Assignment
    or concerning any Equipment, including direct, indirect, special, or consequential damages, or damages based on strict or
    absolute tort liability, except for direct damages resulting from Lessor’s breach of this Agreement or the Assignment.

 

    	 	Page 3 of 8 	 

     

    

 

	6.	Taxes;
    Indemnity; Survival. Lessee will pay Lessor (or pay directly to the applicable taxing authority if instructed in writing
    by Lessor) all Taxes (as such term is defined in the Master Lease), and indemnify Lessor against and hold Lessor harmless
    from all Claims (as such term is defined in the Master Lease), directly or indirectly relating the Equipment, this Agreement,
    or the Assignment, or the operation, selection, manufacture, purchase (by Lessee or Lessor), ownership (for strict liability
    in tort or for statutory or regulatory liability), leasing, possession, maintenance, delivery, return, or sale (by Lessor
    to Lessee) of the Equipment. The provisions of this section and any other provisions of this Agreement that would ordinarily
    be intended to survive shall survive the termination, payment, or performance of this Agreement.
	 	 
	7.	Title
    to Equipment. All Equipment will remain the personal property of Lessor, except that upon Lessee’s payment of the
    entire outstanding principal balance of this Agreement (and not by a deemed repayment under Section 2 above upon the satisfaction
    of the conditions referred to therein), together with all accrued interest, then Lessee shall be entitled to Lessor’s
    interest in such Equipment, and all of Lessor’s rights against Seller in respect thereof, AS-IS, WHERE-IS, and without
    warranty, other than that Lessor will warrant such interest and rights to be free of any liens by, through, or under Lessor
    (but such interest and rights will nonetheless be subject to the Purchase Documents and Assignment, if and as applicable).
	 	 
	8.	Currency.
    All payments made in connection with this Agreement shall be in lawful money of the United States in immediately available
    funds.
	 	 
	9.	Prepayment.
    Lessee may prepay this Agreement at any time, without penalty or premium. Any prepayments shall be applied to payments outstanding
    under this Agreement in such order as Lessor may determine in its sole discretion.
	 	 
	10.	Warranties.
    Lessee represents and warrants that: (a) Lessee is duly organized and in good standing under applicable law in the jurisdictions
    of its organization and domicile and in which Equipment may be located with full power and authority to enter into this Agreement;
    (b) this Agreement is enforceable against Lessee in accordance with its terms, subject to laws of general application affecting
    creditors’ rights generally, and does not breach or create a default under any instrument or agreement binding on Lessee;
    (c) no proceedings exist before any court or administrative agency that would have a material adverse effect on Lessee or
    this Agreement, nor has Lessee been threatened with any such proceedings; (d) the financial statements and other financial
    information made available by Lessee have been prepared in accordance with generally accepted accounting principles and accurately
    present Lessee’s financial position as of the dates given; and (e) Lessee’s chief executive and registered office
    is located at its address specified in this Agreement.
	 	 
	11.	Default.
    The principal of, and all unpaid accrued interest, if any, on, this Agreement shall automatically be accelerated and become
    due and payable in full, and without presentment, demand, protest or notice of any kind: (a) if Lessee shall default in the
    payment or performance of any obligation under this Agreement or any Lease; (b) any warranty or statement made by Lessee in
    this Agreement or any Lease or any related instrument is incorrect in any material respect when made; (c) any Event of Default
    (as such term is defined in any Lease) shall occur; or (d) the appointment, election, nomination, or other institution of
    any administrator, examiner, administrative receiver, compulsory manager, trustee, or liquidator of Lessee (or any similar
    person contemplated by the laws of the United States of America or other applicable laws), or Lessee makes or seeks an assignment
    for the benefit of creditors or any arrangement or composition with its creditors, or becomes insolvent, or commits any act
    of bankruptcy, or is the subject of a petition or proceeding under any bankruptcy, reorganization, arrangement of debts, insolvency,
    or receivership law, or Lessee seeks to effectuate a bulk sale of its inventory, equipment, or assets, or any action is taken
    with a view to Lessee’s termination or the termination of its business; or (e) any guarantor of this Agreement dies
    or is the subject of an event of the types listed in clause (d) or breaches or defaults under the guaranty. Upon the occurrence
    of any of the defaults specified above (a “Default”): (x) Lessor shall be entitled to collect, enforce,
    proceed under, and exercise all rights and remedies available to it under this Agreement or any Lease, or at law or in equity;
    (y) the then unpaid principal balance of this Agreement shall begin bearing interest at a rate of 12% per annum, or at such
    lesser rate as may be the lawful maximum, until paid; and (z) Lessor shall have no further obligation to pay any portion of
    the Total Price to any person. If this Agreement is not paid when due, whether at maturity or by acceleration, or if it is
    collected through a bankruptcy, probate or other court, whether before or after maturity, Lessee agrees to pay all out-of-pocket
    costs of collection, including, but not limited to, reasonable attorneys’ fees incurred by the holder of this Agreement
    in connection with the enforcement of this Agreement.

 

    	 	Page 4 of 8 	 

     

    

 

	12.	Waiver.
    Lessee hereby waives presentment, demand for payment, notice of protest, notice of dishonor, and any and all other notices
    or demands except as otherwise expressly provided in this Agreement.
	 	 
	13.	Facsimiles.
    In any proceeding relating to this Agreement, a party may produce a reliably made facsimile of an instrument rather than the
    original and such facsimile will be considered the original. Each party acknowledges that it has received and reviewed all
    of the pages of this Agreement and that none of its provisions are missing or illegible.
	 	 
	14.	Governing
    Law. This Agreement is governed by Michigan law without regard to conflicts of law principles. The parties consent
    and submit to the jurisdiction of the local, state, and federal courts located within Michigan. The parties waive any objection
    relating to improper venue or forum non conveniens to the conduct of any proceeding in any such courts. The parties irrevocably
    waive all right to trial by jury in any proceeding between them relating to this Agreement or the Equipment.
	 	 
	15.	Interpretation.
    Whenever possible each provision of this Agreement shall be interpreted in such manner as to be effective and valid under
    applicable law, but in case any provision of or obligation under this Agreement 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 headings of the provisions
    of this Agreement are not intended to affect the interpretation thereof. Terms of inclusion mean inclusion without limitation.
    Time is of the essence. This Agreement cannot be amended except in an instrument executed by both parties. A provision of
    this Agreement that is or becomes invalid will be ineffective only to the extent of the invalidity, without affecting the
    remainder of such provision or this Agreement. This Agreement binds and benefits the parties’ successors and permitted
    assigns. This Agreement (which includes its recitals as an integral part hereof) constitutes the entire agreement of the parties
    relating to its subject matter.
	 	 
	16.	Acceptance;
    Counterparts. There will be only one original counterpart of this Agreement which will be the counterpart originally executed
    by Lessee. This Agreement will be effective in all respects against Lessee when executed by Lessee and accepted by Lessor,
    without regard to whether or when it is executed by Lessor. This Agreement will be accepted by Lessor only when Lessor pays
    the Progress Payment Invoice to Seller. Lessee waives notice of Lessor’s acceptance of this Agreement.

 

    	 	Page 5 of 8 	 

     

    

 

	Convergent
    Media Systems Corporation	 	Huntington
    Technology Finance, Inc.
	(Lessee)	 	(Lessor)

 

	By:
    	/s/
    Steve Schilling	 	By:
    	/s/
    S. Lynn Stenback
	 	 	 	 	 
	Name:
    	Steve
    Schilling	 	Name:
    	S.
    Lynn Stenback
	 	 	 	 	 
	Title:
    	President	 	Title:
    	SVP

 

    	 	Page 6 of 8 	 

     

    

 

Schedule
No. ___

 

dated
____________, 2017

 

	Lessee:	Convergent
    Media Systems Corporation	Lessor:	Huntington
    Technology Finance, Inc.
	Street
    Address:	190
    Bluegrass Valley Parkway	Street
    Address:	2285
    Franklin Road, Suite 100
	City/State/Zip:	Alpharetta,
    GA 30005	City/State/Zip:	Bloomfield
    Hills, MI 48302

 

	This
    Schedule incorporates the Master Equipment Lease Agreement dated May 19, 2017 between Lessee and Lessor.
	 

         

        Qty.
	 

         

        Mfr.
	Equipment

        Type/Model/Feature
	 

        Description
	Serial

        Number
	Lessor’s

        Basis
	Rental

        Payment

	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

	Base
    Term: 60 months.	TOTAL:	$	$
	Due
                                         Dates: Rental Payments are due in advance on the first day of each Rental Period.

         

         

         

        Rental
        Period: Each calendar month during the Term.

         

         

         

        Equipment
        Location:           TBD

         

        New
        York City, NY
	Base
                                         Term Commencement Date: The first day of the first whole Rental Period occurring
                                         on or after the last Acceptance Date for any item of Equipment.

         

         

         

        Acceptance
        Date: __________________, 2017

 

Special
Terms:

 

	 	1.	Guaranty.
    Lessee agrees to obtain, as a condition precedent to Lessor’s obligations under this Lease, a guaranty (the “Guaranty”)
    from a guarantor acceptable to Lessor and such evidence of the names, titles, signatures, and authority of those persons executing
    the Guaranty on behalf of the guarantor as Lessor shall reasonably require. The Guaranty shall be unlimited and unconditional
    and remain in full force and effect for not less than the entire Term of the transaction evidenced by this Lease.
	 	 	 
	 	2.	Funding
    Contingency. Lessee understands, acknowledges and agrees that Lessor is entering into this Schedule expressly contingent
    upon Lessor’s ability to complete a financing transaction with respect to this Lease with a lender, investor, or other
    assignee of all or part of Lessor’s interest in the Lease and/or the Equipment, who shall be an Assignee hereunder (“Financer”).
    The financing may take the form of a sale of the Lease and the Equipment to Financer, a nonrecourse loan to be made by Financer
    to Lessor secured by a first priority security interest in the Lease and the Equipment, or another form determined by Lessor
    and Financer in their discretion. Therefore, Lessor’s obligations under the Lease, including, without limitation, Lessor’s
    obligation to purchase the Equipment, in addition to all other conditions provided for in this Lease are expressly conditioned
    upon the satisfaction of all of the following conditions (the “Closing”): (i) the occurrence of
    the closing of the financing, (ii) Financer’s satisfaction with Lessee’s creditworthiness; (iii) Financer’s
    satisfaction with all of the documentation relating to this transaction including, without limitation, this Lease and the
    loan, sale, or other documents implementing the financing, (iv) the satisfaction of all conditions provided for in such documents,
    including, without limitation, that there be no material adverse change in the business or financial condition of the Lessee
    and those conditions which Financer may determine to require after the date hereof and before the Closing, and (v) and the
    receipt by Financer of such assurances or documents as it may in its discretion require, including such assurances or documents
    as Financer may determine to require after the date hereof and before the Closing. In no event shall the Closing be deemed
    to have occurred until such time as Financer shall have directly paid the purchase price for the Equipment to Seller in full.
    Lessee understands and agrees that Lessor may revoke any acceptance by it of this Schedule at any time prior to the Closing
    and Lessor shall incur no liability to Lessee or Seller because of the issuance or acceptance of this Schedule or any contract
    for the purchase of the Equipment or otherwise or any subsequent revocation of its acceptance of this Schedule or such contract
    before the Closing, and Lessee shall indemnify (and, if so requested by Lessor, defend) Lessor against and hold Lessor harmless
    from all claims, costs, expenses, damages and liabilities resulting therefrom or pertaining thereto.
	 	 	 
	 	3.	Sale
    Leaseback. With
    respect to [describe any Equipment to be subject to
    a sale-leaseback] (“SLB
    Equipment”), which Lessee is selling to Lessor for lease back to Lessee hereunder,
    for the sum of [describe cost to Lessor
    of the SLB Equipment] (“SLB
    Price”), Lessee hereby sells, assigns, and transfers to Lessor, all of the Lessee’s
    right, title and interest in and to the SLB Equipment, and any warranties on the SLB Equipment, and agrees to provide reasonable
    assistance in enforcing those warranties. The SLB Price will be paid by ordinary business check when all of the conditions
    to Lessor’s acquisition and lease of the Equipment under this Lease have been satisfied and Lessor shall have received
    such evidence of Lessee’s ownership interest in the SLB Equipment as Lessor may request, including evidence of Lessee’s
    payment to the person from whom it purchased the SLB Equipment (“Original
    Seller”), Original Seller invoices identifying the SLB Equipment, bills of sale,
    and other such documentation as Lessor may request. Lessee represents and warrants that: prior to the execution hereof Lessee
    has paid to Original Seller all amounts due for Lessee to purchase the Equipment from Original Seller; Lessee has good and
    marketable title to the SLB Equipment, free and clear of all liens, claims, taxes, charges and encumbrances of any nature
    or kind whatsoever; and Lessor will acquire such title upon the execution this Schedule. Lessee shall do such acts and shall
    execute such further documents, and will cause the doing of such acts and the executions of such further documents by others,
    as Lessor may in writing at any time and from time to time reasonably request be done or executed in order to give effect
    to the assignment to Lessor of free and clear title to the Equipment.

 

    	 	Page 7 of 8 	 

     

    

 

	 	4.	Acceptance.
    As the Acceptance Certificate for this Lease, Lessee certifies that: (a) the Equipment is located at the Equipment Location
    specified above and fully installed; (b) Lessee has inspected the Equipment; (c) on the Acceptance Date specified above Lessee
    accepted the Equipment for all purposes of this Lease, any purchase documents with Seller, and all related documents; and
    (d) no Event of Default or event that with notice or the lapse of time would constitute an Event of Default is continuing.
    For purposes of this lease, the Outside Acceptance Date is the same as the Acceptance Date.
	 	 	 
	 	5.	Progress
    Payment Agreement and Assignment of Purchase Agreement. Lessor has paid a progress payment for certain of the Equipment
    hereunder as contemplated under a certain Progress Payment Note and Reimbursement Agreement dated June ___, 2017 between Lessee
    and Lessor (“Progress Payment Agreement”) and a certain Assignment of Purchase Agreement dated June
    ___, 2017 between Lessee, Lessor and LG-MRI LLC (who is the Seller thereof) (“Assignment of Purchase Agreement”).
    The Progress Payment Agreement and Assignment of Purchase Agreement are separate and independent agreements of the parties
    and do not condition, limit, or affect the parties’ respective rights and obligations under this Lease; provided, however,
    that all conditions to Lessor’s obligations to enter into this Lease, to Lease any Equipment to Lessee, to purchase
    any Equipment from Seller, or to pay Seller any portion of the cost of the Equipment as specified in the Progress Payment
    Agreement or Assignment of Purchase Agreement shall also be conditions to Lessor’s obligations under this Lease.

 

Each
party acknowledges its receipt and review of this Schedule and that none of its provisions are missing or illegible. The terms
of this Schedule may be different from other Schedules incorporating the Agreement. The page numbering of this Schedule may be
exclusive of exhibits, if any. If this Schedule was transmitted to Lessee for signature in electronic format, Lessee represents
and warrants that the text originally transmitted has not been altered in any way. Lessor’s acceptance of this Schedule
is based on its reliance on, and specifically conditioned by, the truth of this representation and warranty. This Schedule and
the Agreement constitute the entire agreement of the parties relating to the leasing of the Equipment.

 

	Convergent
    Media Systems Corporation (Lessee) 	 	Huntington
    Technology Finance, Inc. (Lessor) 
	 	 	 	 	 
	By:	 	 	By:	 
	 	 	 	 	 
	Name/Title:	 	 	Name/Title:	 
	 	 	 	 	 
	Date:	 	 	Date:	 

 

    	 	Page 8 of 8EXHIBIT
4.2

 

Series
7 of Olden Lane Trust

 

Series
Supplement

 

Dated
as of: June 27, 2017

 

This
Series Supplement dated as of June 27, 2017 (the “Series Supplement”), executed by Olden Lane Securities LLC, as Depositor,
hereby creates Series 7 of Olden Lane Trust (the “Trust”). The Series shall be governed by the terms of this Series
Supplement and the Master Trust Agreement dated as of February 10, 2015 between Olden Lane Securities LLC, as Depositor and Wilmington
Trust, National Association, as the Trustee (the “Trust Agreement”).

 

Witnesseth
That:

 

WHEREAS
pursuant to the Trust Agreement one or more Series of Olden Lane Trust may be established, each of which Series is to be a unit
investment trust registered under the Investment Company Act of 1940, as amended, all as provided in the Trust Agreement; and

 

WHEREAS
the assets and specific terms of Series 7 of Olden Lane Trust shall be as set forth in this Series Supplement, the Master Services
Agreement and the related Series MSA Supplement.

 

NOW,
THEREFORE, the parties hereto, hereby agree:

 

PART
I

Master Trust Agreement

 

Subject
to the provisions of Part II and III hereof, all the provisions contained in the Trust Agreement are herein incorporated by reference
in their entirety and shall be deemed to be a part of this instrument as fully and to the same extent as though said provisions
had been set forth in full in this instrument. In the event of any inconsistency between the provisions of this Series Supplement
and the provisions of the Trust Agreement, the Series Supplement will prevail. All capitalized terms not otherwise defined herein
shall have the meaning ascribed in the Trust Agreement.

 

PART
II

Creation of Series 7 of Olden Lane Trust

 

1.              This
Series of beneficial interest in the Trust shall be known and is hereby established and designated as “Series 7 of Olden
Lane Trust” (the “Series 7 of Trust”). Listed in Part 2 of Schedule A
are Contract Securities; the Depositor will deliver to the Custodian the Securities represented by such Contract Securities as
provided in the Master Services Agreement.

 

2.              The
debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Series 7 of Trust
shall be enforceable against the assets of the Series 7 of Trust only, and not against the assets of Olden Lane Trust generally
or the assets of any other Series of Olden Lane Trust. Further, none of the debts, liabilities, obligations and expenses incurred,
contracted for or otherwise existing with respect to the Series 7 of Trust shall be enforceable against the assets of any other
Series of Olden Lane Trust.

 

3.              The
validity and construction of this Series Supplement and all amendments hereto shall be governed by the laws of the State of Delaware,
and the rights of all parties hereto and the effect of every provision hereof shall be subject to and construed according to the
laws of the State of Delaware without regard to the conflicts of law provisions thereof; provided, however, that the Depositor
and the Unitholders intend that the provisions hereof shall control over any contrary or limiting statutory or common law of the
State of Delaware (other than the Act) and

 

     

     

    

 

that,
to the maximum extent permitted by applicable law, there shall not be applicable to the Series 7 of Trust, the Depositor, the
Trustee, the Unitholders or this Series Supplement any provision of the laws (statutory or common) of the State of Delaware (other
than the Act) pertaining to trusts which relate to or regulate in a manner inconsistent with the terms hereof: (a) the filing
with any court or governmental body or agency of trustee accounts or schedules of trustee fees and charges, (b) affirmative requirements
to post bonds for trustees, officers, agents, or employees of a trust, (c) the necessity for obtaining court or other governmental
approval concerning the acquisition, holding or disposition of real or personal property, (d) fees or other sums payable to trustees,
officers, agents or employees of a trust, (e) the allocation of receipts and expenditures to income or principal, (f) restrictions
or limitations on the permissible nature, amount or concentration of trust investments or requirements relating to the titling,
storage or other manner of holding of trust assets, (g) the existence of rights or interests (beneficial or otherwise) in trust
assets, (h) the ability of beneficial owners or other persons to terminate or dissolve a trust, or (i) the establishment of fiduciary
or other standards or responsibilities or limitations on the acts or powers of trustees or beneficial owners that are inconsistent
with the limitations on liability or authorities and powers of the Trustee or the Unitholders set forth or referenced in the Trust
Agreement or this Series Supplement. Sections 3540, 3542 and 3561 of Title 12 of the Delaware Code shall not apply to the Series
7 of Trust.

 

PART
III

Special Terms and Conditions of Series 7 of Olden Lane Trust

 

The
Series 7 of Trust specifies the following special terms and conditions:

 

1.           The
Securities for the Series 7 of Trust listed in Part 1 of Schedule A hereto have been deposited with the Custodian by the Depositor
or its designee. Listed in Part 2 of Schedule A are Contract Securities; the Depositor or its designee will deliver to the Custodian
the Securities represented by such Contract Securities as provided in the Master Services Agreement.

 

2.           The
aggregate number of Units for the Series 7 of Trust described in Section 2.03(a) of the Master Services Agreement shall be that
number of Units set forth under “Statement of Financial Condition—Number of Units” in the Prospectus for the
Series 7 of Trust.

 

3.           The
undivided beneficial interest in and ownership of the Series 7 of Trust represented by each Unit thereof is a fractional amount,
the numerator of which is one and the denominator of which shall be the amount set forth under “Statement of Financial Condition—Number
of Units” in the Prospectus for the Series 7 of Trust.

 

4.           For
each Security, the Underlying Asset to Unit Ratio for the Series 7 of Trust shall be equal to the ratio of (i) the “Aggregate
Principal Amount” in respect of such Securities set forth under “Trust Portfolio—Portfolio Composition”
in the Prospectus for Series 7 of Trust to (ii) the number of Units for Series 7 of Trust set forth under “Statement of
Financial Condition—Number of Units” in the Prospectus for the Series 7 of Trust.

 

5.           The
term “Record Dates” shall mean the “Record Dates” set forth under “Essential Information”
in the Prospectus for the Series 7 of Trust.

 

6.           The
term “Distribution Dates” shall mean the “Distribution Dates” set forth under “Essential
Information” in the Prospectus for the Series 7 of Trust.

 

7.           
There shall be no “Deferred Sales Charge” or “Deferred Sales Charge Payment Dates.”-

 

8.           The
term “Business Day” shall be as defined in the Master Services Agreement. The term “Mandatory Termination
Date” shall mean the “Termination Date” set forth under “Essential Information” in the Prospectus
for the Series 7 of Trust, subject to postponement as described in the Prospectus for the Series 7 of Trust.

 

9.           The
Series 7 of Trust shall elect to be a Regulated Investment Company and, if required, the Depositor shall, on behalf of the Series
7 of Trust, make or cause to be made such filings necessary to effect such an election.

 

    -2- 

     

    

 

10.           The
Depositor’s, Evaluator’s and Supervisor’s annual compensation shall be the amount set forth under “Fee
Table” in the Prospectus for the Series 7 of Trust.

 

11.           The
aggregate of the Custodian’s, the Transfer Agent’s and the Administrator’s annual compensation shall be the
amount set forth under “Fee Table” in the Prospectus for the Series 7 of Trust, with an aggregate minimum of $10,000
per annum.

 

12.           The
term “Initial Date of Deposit” for the Series 7 of Trust shall be the date of this Series Supplement.

 

13.           The
terms “Initial Offering Period” and “Organization Expense Period” for the Series 7 of Trust
shall each mean the period beginning with the date the registration statement filed with the Securities and Exchange Commission
in respect of Series 7 of Trust becomes effective and ending on July 14, 2017.

 

14.           The
“Creation and Development Fee” shall be the amount set forth under “Fee Table” in the Prospectus
for the Series 7 of Trust.

 

15.           The
term “Trading Day” shall mean a Business Day that is also a “trading day” as set forth in footnote
no. 2 under the section entitled “Essential Information” in the Prospectus for the Series 7 of Trust.

 

16.           Section
6.04 of the Master Services Agreement (“Rollover of Units”) shall not apply to the Series 7 of Trust.

 

17.           The
Depositor may direct the dissolution of the Series 7 of Trust in the event a Trust Series Evaluation made after the end of the
Initial Offering Period is less than 40% of the total value of Securities and Derivative Transactions deposited in such Series
7 of Trust during the Initial Offering Period.

 

18.           The
Depositor may direct the dissolution of the Series 7 of Trust if due to (i) any action taken by a governmental body, or brought
in court, or (y) a change in law (including tax law) or in the application or official interpretation of any law), there is or
there is a substantial likelihood that the Series 7 of Trust will be prohibited in any material way from pursuing its principal
investment strategy in the same manner and economic terms as on the inception date.

 

19.           The
Series 7 of Trust is a Derivatives Trust Series, and the following sections will apply:

 

		(i)	A
                                         form of the relevant Derivative Agreement is attached hereto as Annex A.

 

		(ii)	The
                                         Depositor shall cause the Series 7 of Trust to enter into each Derivative Transaction
                                         set forth under “Trust Portfolio—Portfolio Composition” in the Prospectus
                                         for Series 7 of Trust and shall endorse and deliver each related Derivative Agreement
                                         promptly following the execution of the related Series MSA Supplement.

 

		(iii)	For
                                         each Derivative Transaction, the Underlying Asset to Unit Ratio shall be equal to the
                                         ratio of (i) the “Number of Options Contracts” in respect of such Derivative
                                         Transactions set forth under “Trust Portfolio—Portfolio Composition”
                                         in the Prospectus for Series 7 of Trust to (ii) the number of Units for Series 7 of Trust
                                         set forth under “Statement of Financial Condition—Number of Units”
                                         in the Prospectus for the Series 7 of Trust.

 

		(iv)	The
                                         term “Derivative Counterparty” shall mean the Options Clearing Corporation
                                         (the “OCC”) and the relevant member of the OCC set forth in the relevant
                                         Derivatives Agreement.

 

This
Series Supplement shall be deemed effective when executed and delivered by the Depositor, on behalf of the Trust, to the Trustee.

 

    -3- 

     

    

 

In
Witness Whereof, the undersigned have caused this Series Supplement
to be executed; all as of the day, month and year first above written.

	 	 	 	 	 	 
	 	Series
    7 of Olden Lane Trust,
	 	 	a
    Delaware Statutory Trust
	 	 	 
	 	 	By:	Olden
    Lane Securities LLC,
	 	 	 	 	as
    Depositor
	 	 	 	 	 	 
	 	 	 	 	By:	/s/
    Michel Serieyssol
	 	 	 	 	 	Michel
    Serieyssol
	 	 	 	 	 	CEO

 

     

     

    

 

Schedule
A to Series MSA Supplement

 

Securities
Initially Deposited

 

in

 

Olden
Lane Trust Series 7

  

Part
1

 

Securities
Delivered to the Custodian on The initial Date of Deposit

 

Incorporated
herein by this reference and made a part hereof is the “Trust Portfolio—Portfolio Composition” in schedule as
set forth in the Prospectus for Series 7 of Trust.

 

Part
2

 

Contract
Securities

 

     

     

    

 

Annex
A to Series Supplement

Form of Derivative Agreement

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