Document:

Exhibit 10.7

 

PERSONAL
GUARANTY AND RECOURSE AGREEMENT

 

This
Personal Guaranty and Recourse Agreement, dated May 3, 2017 (this “Guaranty Agreement”), is by and between
Dean L. Ledger, an individual residing at _____________________________ (the “Guarantor”), and JMJ Financial
(the “Investor”).

 

WHEREAS,
NanoFlex Power Corporation, a Florida corporation (the “Issuer”), is issuing a $500,000 Convertible Promissory
Note (the “Note”) to the Investor as of the date hereof;

 

WHEREAS,
the Guarantor is the Chief Executive Officer and a shareholder of the Issuer; and

 

WHEREAS,
the Guarantor wishes to provide the Investor a full and unconditional personal guaranty of the Note as inducement for the Investor
to enter into the Note and to provide better terms for the Issuer under the Note.

 

NOW,
THEREFORE, the parties agree as follows:

 

1.            Guarantee.
The Guarantor hereby fully and unconditionally personally guarantees the Note and fully and unconditionally personally guarantees
the Issuer's obligation to repurchase the Note. The Guarantor’s guarantee represents a full recourse personal guaranty by
the Guarantor of the Issuer’s obligations under the Note and to repurchase the Note such that, for example, if the Issuer
defaults on the payment or repurchase of the Note, then the Investor has the right to pursue the repurchase amount or the outstanding
principal and interest amount, and any other amounts due under the Note, (i) from the Guarantor directly, with or without first
pursuing the Issuer, or (ii) from the Issuer. The Guarantor understands and agrees that if an event of default occurs under
the Note then the Investor may, at its election, pursue the balance due from Guarantor personally.

 

2.            Non-exclusive
Remedies. The Investor’s election of remedies is not exclusive, and the Investor may choose to pursue more than one
remedy without first exhausting any remedy previously pursued.

 

3.            Governing
Law. This Guaranty Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of
Nevada, without regard to the principles of conflict of laws thereof. Any action brought by any party against the other concerning
the transactions contemplated by this Guaranty Agreement shall be brought only in the state courts of Florida or in the federal
courts located in Miami-Dade County, in the State of Florida. Both the parties and the individuals signing this Guaranty Agreement
agree to submit to the jurisdiction of such courts.

 

4.            Enforceability.
If any provision of this Agreement is held by a court of law to be unenforceable or invalid for any reason, the remaining provisions
of this agreement shall be unaffected by such holding. If the invalidation of any such provision materially alters the agreement
of the parties, then the parties shall immediately adopt new provisions to replace those that were declared invalid.

 

	Guarantor:	 	Investor:
	 	 	 
		 	
	Dean
    L. Ledger	 	JMJ
    Financial / Its PrincipalExhibit 10.8

 

REPRESENTATIONS
AND WARRANTIES AGREEMENT

REGARDING
DEBT AND VARIABLE SECURITIES

DOCUMENT
RW-05032017

 

This
Representations & Warranties Agreement, dated May 3, 2017 (this “Agreement”), is by and between NanoFlex Power
Corporation, a Florida corporation (the “Issuer”) and JMJ Financial (the “Investor”) (referred
to collectively herein as the “Parties”).

 

WHEREAS,
the Issuer and the Investor are entering into a $500,000 Convertible Promissory Note (the “Note”). All capitalized
terms not otherwise defined herein shall have the meanings given such terms in the Note.

 

NOW,
THEREFORE, as an inducement to the Investor agreeing to pay $300,000 to the Issuer on the Effective Date of the Note, the Issuer
agrees, represents, and warrants to the Investor as follows:

 

1.
Other than as reported in the Company’s reports filed with the SEC, as of the date of this Agreement, the Issuer has no
outstanding loan, bond, note, debenture, lien, mortgage, debt security, convertible security, or variable rate security, other
than notes issued to the Investor and the following notes:

 

	Creditor	 	Issue Date	 	Original Note Balance	 	 	Remaining Note Balance	 
	 	 	 	 	 	 	 	 	 
	Power Up Lending	 	4/25/2017	 	$	58,500	 	 	$	58,500	 
	 	 	 	 	 	 	 	 	 	 	 
	JSJ Investments	 	4/25/2017	 	$	115,000	 	 	$	115,000	 
	 	 	 	 	 	 	 	 	 	 	 
	Silo Equity	 	4/27/2017	 	$	100,000	 	 	$	100,000	 

 

2.
THE ISSUER SHALL NOT ISSUE ANY DEBT WITHIN 90 DAYS AFTER THE EFFECTIVE DATE OF THE NOTE WITHOUT WRITTEN CONSENT OF THE INVESTOR
(INCLUDING, BUT NOT LIMITED TO ANY LOAN, BOND, NOTE, DEBENTURE, LIEN, MORTGAGE, DEBT SECURITY, CONVERTIBLE SECURITY, OR VARIABLE
RATE SECURITY) UNLESS THE ISSUER USES THE PROCEEDS OF SUCH DEBT FIRST, BEFORE ANY OTHER USE, TO REPAY, WITHIN TWO BUSINESS DAYS
AFTER THE ISSUER'S RECEIPT OF THE PROCEEDS, ANY OUTSTANDING BALANCE ON THE NOTE, INCLUDING, WITHOUT LIMITATION, ANY INTEREST,
FEES, AND REPAYMENT PREMIUMS. At the Investor’s election, so long as any balance remains outstanding on the Note, the
proceeds from any debt or equity issued must be used to pay off the amount due under the Note.

 

3.
THE ISSUER SHALL NOT ISSUE ANY SECURITY WITHIN 90 DAYS AFTER THE EFFECTIVE DATE OF THE NOTE THAT IS UNDER ANY CIRCUMSTANCE
CONVERTIBLE INTO OR EXERCISABLE OR EXCHANGEABLE FOR SHARES OF COMMON STOCK OF THE ISSUER WITHIN NINE MONTHS AFTER THE EFFECTIVE
DATE OF THE NOTE, INCLUDING, WITHOUT LIMITATION, ANY DEBT, PREFERRED STOCK, RIGHT, OPTION, WARRANT OR OTHER INSTRUMENT THAT IS
CONVERTIBLE INTO OR EXERCISABLE OR EXCHANGEABLE FOR, OR OTHERWISE ENTITLES THE HOLDER THEREOF TO RECEIVE, COMMON STOCK UNLESS
THE ISSUER USES THE PROCEEDS OF SUCH ISSUANCE FIRST, BEFORE ANY OTHER USE, TO REPAY, WITHIN TWO BUSINESS DAYS AFTER THE ISSUER'S
RECEIPT OF THE PROCEEDS, ANY OUTSTANDING BALANCE ON THE NOTE, INCLUDING, WITHOUT LIMITATION, ANY INTEREST, FEES, AND REPAYMENT
PREMIUMS. With respect to warrants and options issued by the Issuer as part of a unit offering that includes only common stock
and warrants, the only amounts that would be required to be paid to Investor are the exercise price if exercised, but not the
sales price of a warrant or option included in a unit with equity. At the Investor’s election, so long as any balance remains
outstanding on the Note, the proceeds from any debt or equity issued must be used to pay off the amount due under the Note.

 

4.
THE ISSUER SHALL NOT ISSUE ANY VARIABLE SECURITY WITHIN 90 DAYS AFTER THE EFFECTIVE DATE OF THE NOTE WITHOUT WRITTEN CONSENT
OF THE INVESTOR UNLESS THE ISSUER USES THE PROCEEDS OF SUCH ISSUANCE FIRST, BEFORE ANY OTHER USE, TO REPAY, WITHIN TWO BUSINESS
DAYS AFTER THE ISSUER'S RECEIPT OF THE PROCEEDS, ANY OUTSTANDING BALANCE ON THE NOTE, INCLUDING, WITHOUT LIMITATION, ANY INTEREST,
FEES, AND REPAYMENT PREMIUMS. A Variable Security is any security issued by the Issuer that (i) has or may have conversion
rights of any kind, contingent, conditional or otherwise in which the number of shares that may be issued pursuant to such conversion
right varies with the market price of the common stock; (ii) is or may become convertible into common stock (including without
limitation convertible debt, warrants or convertible preferred stock), with a conversion or exercise price that varies with the
market price of the common stock, even if such security only becomes convertible or exercisable following an event of default,
the passage of time, or another trigger event or condition; or (iii) was issued or may be issued in the future in exchange for
or in connection with any contract, security, or instrument, whether convertible or not, where the number of shares of common
stock issued or to be issued is based upon or related in any way to the market price of the common stock, including, but not limited
to, common stock issued in connection with a Section 3(a)(9) exchange, a Section 3(a)(10) settlement, or any other similar settlement
or exchange.

 

*          *          *

 

    

    

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of this 3rd day of May, 2017.

 

	 	ISSUER:
	 	 	 
	 	NanoFlex
    Power Corporation
	 	 	 
	 	By:	
	 		Dean L. Ledger
	 		Chief Executive Officer
	 	 	 
	 	INVESTOR:
	 	 	 
	 	
	 	JMJ
    Financial / Its Principal

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Representations
& Warranties Agreement Regarding Debt and Variable Securities Signature Page]vktx-ex102_261.htm

 

Exhibit 10.2

Third Amendment to Loan and Security Agreement

This Third Amendment to Loan and Security Agreement, dated as of May 8, 2017 (this “Amendment”), made by and between Viking Therapeutics, Inc., a Delaware corporation (“Borrower”), and Ligand Pharmaceuticals Incorporated, a Delaware corporation (“Lender”), amends the terms of the Loan and Security Agreement, dated May 21, 2014, as amended on April 8, 2015 and January 22, 2016, by and between Borrower and Lender (the “Agreement”) pursuant to Section 25(c) of the Agreement as follows:

1.Definition of Maturity Date. The definition of “Maturity Date” in Schedule A to the Agreement is amended and restated to read in its entirety as follows:

““Maturity Date” means May 21, 2018.”

2.Required Prepayment.  A new Section 2(e)(iii) shall be added to the Agreement as follows:

	

	
“(iii)   Required Repayment.  No later than July 15, 2017, Borrower shall repay to Lender $200,000, which payment shall be comprised solely of cash (the “Required Repayment”). The Required Repayment shall be applied, first, to accrued and unpaid interest on the Loan and, second, to the unpaid principal amount of the Loan. Each $1.00 of value of the Required Repayment shall reduce the amount of accrued and unpaid interest and then unpaid principal amount on the Loan by $0.50.”

3.Addresses for Notices.  Section 22 of the Agreement shall be amended as follows:

(a)The reference to “11119 North Torrey Pines Road, Suite 50, San Diego, CA 92037” shall be amended and restated in its entirety to read “12340 El Camino Real, Suite 250, San Diego, CA 92130”

(b)The reference to “11119 North Torrey Pines Road, Suite 200, San Diego, CA 92037” shall be amended and restated in its entirety to read “3911 Sorrento Valley Blvd, Suite 110, San Diego, CA 92121”.

4.All of the other provisions of the Agreement shall remain in full force and effect. 

5.This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original, and all of which taken together shall constitute one and the same agreement.  In the event that any signature is delivered by facsimile, a portable document format (PDF) or similar electronic format, such signature shall create a valid binding obligation of the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile, PDF or other electronic format signature were the original thereof.

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LEGAL_US_W # 89456831.3

 

 

 
 
US-DOCS\85970013.2

 

IN WITNESS WHEREOF, the parties hereto have caused this Third Amendment to Loan and Security Agreement to be duly executed on the day and year first above written.

 

			
	
 
	
BORROWER:

	
 
	
Viking Therapeutics, Inc.

	
 
	
 
	
 

	
 
	
By:
	
/s/ Brian Lian, Ph.D.

	
 
	
Name:
	
Brian Lian, Ph.D.

	
 
	
Title:
	
President and Chief Executive Officer

	
 
	
 
	
 

 

 

			
	
 
	
LENDER:

	
 
	
Ligand Pharmaceuticals Incorporated

	
 
	
 
	
 

	
 
	
By:
	
/s/ Matthew Korenberg

	
 
	
Name:
	
Matthew Korenberg

	
 
	
Title:
	
Chief Financial Officer

	
 
	
 
	
 

 

 

 

 

[Signature Page to Third Amendment to Loan and Security Agreement]

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