Document:

a103-birdxbirdinternatio

Execution Version  1  US-DOCS\137631201.6  THE INDEBTEDNESS EVIDENCED BY THIS INSTRUMENT OR AGREEMENT IS  SUBJECT TO THE SUBORDINATION AND INTERCREDITOR AGREEMENT, DATED AS  OF DECEMBER 30, 2022, BY AND AMONG, INTER ALIA, MIDCAP FINANCIAL TRUST  AND U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION AND  ACKNOWLEDGED BY BIRD GLOBAL, INC., BIRD RIDES INC., BIRD US OPCO, LLC,  BIRD US HOLDCO, LLC, BIRD RIDES INTERNATIONAL HOLDING, INC., 1393631 B.C.  UNLIMITED LIABILITY COMPANY, AND BIRD CANADA INC.  GUARANTEE  This GUARANTEE (the “Guarantee”), dated as of December 30, 2022, made by Bird  Rides International Holding, Inc. (the “Guarantor”), is in favor of U.S. Bank Trust Company,  National Association, as Collateral Agent (the “Collateral Agent”), and the Purchasers (the  “Purchasers” and collectively with the Collateral Agent, the “Beneficiaries”) under the Note  Purchase Agreement (as defined below).  RECITALS  1. Bird Global, Inc., a Delaware corporation, (the “Issuer”), and the Beneficiaries have  entered into the Note Purchase Agreement dated as of December 30, 2022 (as amended,  supplemented, or modified from time to time, the “Note Purchase Agreement”).  Capitalized terms  used herein and not otherwise defined herein shall have the meanings assigned to them in the Note  Purchase Agreement.  2. Prior to the Beneficiaries extending any credit to the Issuer under the Note Purchase  Agreement, the Issuer is required to provide the Beneficiaries with a guarantee duly executed by  the Guarantor, and this Guarantee is being delivered in satisfaction of such requirement.  3. The Guarantor, a wholly-owned Subsidiary of the Issuer, derives substantial direct  and indirect benefits from the extensions of credit contemplated by the Note Purchase Agreement.  GUARANTEE  As an inducement to the Beneficiaries to enter into the Note Purchase Agreement and for  other good and valuable consideration, the receipt and sufficiency of which are hereby  acknowledged, the Guarantor agrees as follows:  1. Guarantee.  The Guarantor hereby unconditionally and irrevocably guarantees (as  primary obligor and not merely as surety) to the Beneficiaries and their successors and permitted  assigns the punctual and complete payment of all amounts due and payable and performance of all  other Obligations (now or hereafter arising, by acceleration or otherwise) by the Issuer and the  other Note Parties under the Note Purchase Agreement and the other Note Documents (the  “Guaranteed Obligations”) without regard to any defense of any kind which the Guarantor may  have or assert, and without abatement, suspension, deferment or diminution of any event or  condition whatsoever, provided, that, notwithstanding anything to the contrary hereunder, the  Guaranteed Obligations of the Guarantor shall be limited to an aggregate amount equal to the  largest amount that would not render this Guarantee subject to avoidance under Section 548 of the  Bankruptcy Code or any comparable provisions of applicable law.  

 

  2  US-DOCS\137631201.6  2. Indemnity.  If any or all of the Guaranteed Obligations are not paid or performed  by the Issuer and are not paid or performed by the Guarantor under Section 1 for any reason  whatsoever, the Guarantor will, as a separate and distinct obligation, indemnify and save harmless  the Beneficiaries from and against all losses, costs and expenses suffered or incurred by them  arising from, or in connection with, or as a result of (a) any of the provisions of the Note Purchase  Agreement or any of the Note Documents being or becoming void, voidable, unenforceable or  invalid, or (b) the failure of the Issuer to fully and promptly pay or perform any of the Guaranteed  Obligations.  3. Primary Obligations.  If any or all of the Guaranteed Obligations are not paid or  performed by the Issuer and are not paid or performed by the Guarantor under Section 1 or the  Beneficiaries are not indemnified under Section 2, in each case, for any reason whatsoever, such  Guaranteed Obligations will, as a separate and distinct obligation, be paid and performed by the  Guarantor as primary obligor immediately upon written demand to the Guarantor by the  Beneficiaries for such payment or performance.  4. Guarantee Absolute and Unconditional.  The Guarantor hereby agrees that its  obligations shall be absolute, irrevocable, and unconditional and, without limiting the generality  of the foregoing, shall not be released, discharged, or otherwise affected by:  (a) any failure or delay to enforce the provisions of the Note Purchase Agreement or  the other Note Documents;   (b) the perfection, release or extent of any Collateral or Guarantor Collateral or any  failure to realize on any Collateral or Guarantor Collateral;  (c) any waiver, modification, or consent to departure from, or amendment of the Note  Purchase Agreement or other Note Documents;  (d) the invalidity, illegality, or unenforceability of the Note Purchase Agreement or  the Guaranteed Obligations or other Note Documents;   (e) any change in the corporate existence, structure, or ownership of the Issuer or the  other Note Parties; or   (f) any other circumstances (other than payment or conversion in full of the  Obligations or the Guaranteed Obligations) which may otherwise constitute a legal or  equitable discharge of a surety or guarantor.   This Guarantee constitutes a guarantee of payment when due and not of collection.  The  Beneficiaries have no duty or responsibility whatsoever to the Guarantor and make no  representation or warranty in respect of the management and maintenance of the Guaranteed  Obligations or any collateral therefor.    5. Parallel Debt.  For the purpose of taking and ensuring the continuing validity and  enforceability of the security created under the EMEA Dutch Pledge, the Guarantor hereby agrees  and covenants with the Collateral Agent that it shall pay to the Collateral Agent an amount equal  to, and in the currency of, any sums owing by it to a Secured Party under any Note Document (the  

 

  3  US-DOCS\137631201.6  “Principal Obligations”) as and when the same fall due for payment under the relevant Note  Document (the “Parallel Debt”).  The Parallel Debt will become due and payable as and when one or more of the Principal  Obligations of the Guarantor becomes due and payable.  Notwithstanding anything to the contrary in any Note Document, the Collateral Agent shall  have its own independent right to demand payment of the Parallel Debt by the Guarantor and the  Collateral Agent acts in its own name and not as a trustee, and its claims in respect of the Parallel  Debt shall not be held on trust.  The rights of the Secured Parties to receive payment of the Principal  Obligations are several from the rights of the Collateral Agent to receive payment of the Parallel  Debt; provided, that the payment by the Guarantor of its Parallel Debt to the Collateral Agent in  accordance with this paragraph and the immediately preceding paragraph shall be a good discharge  of the corresponding Principal Obligations and the payment by the Guarantor of its corresponding  Principal Obligations in accordance with the Note Documents shall be a good discharge of the  relevant Parallel Debt.  In the event of a good discharge of the Principal Obligations, the Collateral  Agent and the Secured Parties shall not be entitled any more to demand payment of the  corresponding Parallel Debt and such Parallel Debt shall cease to exist.  The amount of the Parallel  Debt of the Guarantor shall at all times be equal to the amount of its Principal Obligations.  This  shall apply accordingly in the event of a good discharge of the Parallel Debt to the corresponding  Principal Obligations. Despite the foregoing, any payment under the Note Documents shall be  made to the Purchasers, unless expressly stated otherwise in the Note Documents (save for this  paragraph and the immediately preceding paragraph) or unless the Collateral Agent (at the  direction of the Required Purchasers) directs such payment to be made to the Collateral Agent.   6. Waiver by Guarantor.  The Guarantor agrees that the Beneficiaries may at any time  and from time to time, either before or after the maturity thereof, without notice to or further  consent of the Guarantor, extend the time of payment of, exchange or surrender any collateral for,  or renew any of the Guaranteed Obligations, and may also make any agreement with the Issuer for  the extension, renewal, payment, compromise, discharge, or release thereof, in whole or in part,  for any modification of the terms thereof or of any agreement between any of the Beneficiaries  and the Issuer without in any way impairing or affecting this Guarantee.  The Guarantor hereby  waives notice of acceptance of this Guarantee, diligence, acceleration, presentment, notice of  default or demand of payment to or upon the Issuer or the Guarantor, filing of claims with a court  in the event of merger or bankruptcy of the Issuer, any right or requirement to proceed first against  the Issuer, any protest or notice with respect to the Note Purchase Agreement or the obligations  created or evidenced thereby and all demands whatsoever, any exchange, sale or surrender of, or  realization on, any other guarantee or any collateral, and any and all other notices and surety  defenses (other than payment in full) whatsoever.  The Beneficiaries shall not be obligated to file  any claim relating to the Guaranteed Obligations in the event that Issuer becomes subject to a  bankruptcy, reorganization or similar proceeding, and the failure of the Beneficiaries to so file  shall not affect the Guarantor’s obligations hereunder.  7. Reinstatement in Certain Instances.  The Guarantor further agrees that if any  payment or delivery of any of the Guaranteed Obligations is subsequently rescinded or is  subsequently recovered from or repaid by the recipient thereof, in whole or in part, in any  bankruptcy, reorganization, insolvency or similar proceedings instituted by or against the Issuer,  

 

  4  US-DOCS\137631201.6  or otherwise, the Guarantor’s obligations hereunder with respect to such Guaranteed Obligation  shall be reinstated at such time to the same extent as though the payment or delivery so recovered  or repaid had not been originally made.    8. Security Interest.  (a) As security for the performance by the Guarantor of all the terms, covenants and  agreements on the part of the Guarantor to be performed under this Guarantee and any  other Note Document, including all Guaranteed Obligations, the Guarantor hereby grants  to the Collateral Agent for its benefit and the ratable benefit of the other Secured Parties, a  continuing security interest in, all of the Guarantor’s right, title and interest in, to and under  all of the following, whether now or hereafter owned, existing or arising (collectively, the  “Guarantor Collateral”):   (i) sixty-five percent (65%) of the Equity Interests of Bird Rides Europe B.V.,   and  (ii) all proceeds of, and all amounts received or receivable under any or all of,  the foregoing.  The Collateral Agent (for the benefit of the Secured Parties) shall have, with respect to all  the Guarantor Collateral, and in addition to all the other rights and remedies available to  the Collateral Agent (for the benefit of the Secured Parties), all the rights and remedies of  a secured party under any applicable UCC.  (b) The Guarantor authorizes the Collateral Agent (at the direction of the Required  Purchasers) to perfect the Collateral Agent’s security interest in the Guarantor Collateral  by filing or authorizing the filing of, at the expense of the Guarantor, UCC-1 financing  statement naming the Collateral Agent as secured party and describing the Guarantor  Collateral in a manner that the Required Purchasers reasonably determine is necessary or  advisable to perfect the security interest granted hereunder.  (c) At any time or from time to time upon the request of the Collateral Agent (at the  direction of the Required Purchasers), the Guarantor will, at its expense, promptly execute,  acknowledge, and deliver such further documents and do such other acts and things as the  Required Purchasers reasonably determine is necessary or advisable to perfect the security  interest granted hereunder.  (d) Upon the Obligations becoming immediately due and payable, the Collateral Agent  and the other Secured Parties shall have, in addition to the rights and remedies which they  may have under this Guarantee and the other Note Documents, all other rights and remedies  provided after default under the UCC and under other Applicable Law, which rights and  remedies shall be cumulative. Any proceeds from liquidation of the Guarantor Collateral  shall be applied pursuant to the Intercreditor Agreement.  (e) Upon payment or conversion in full of the Obligations (other than inchoate  indemnity obligations), the Guarantor Collateral shall be automatically released from the  

 

  5  US-DOCS\137631201.6  lien created hereby, and this Guarantee and all obligations (other than those expressly  stated to survive such termination) of the Guarantor shall terminate, all without delivery of  any instrument or performance of any act by any party, and all rights to the Guarantor  Collateral shall revert to the Guarantor.  Upon any sale or other transfer of any Guarantor  Collateral in a transaction permitted under and in accordance with the terms of the Note  Purchase Agreement, or upon the effectiveness of any written consent of the Collateral  Agent (at the direction of the Required Purchasers) to the release of the Liens granted  hereby on any Guarantor Collateral, the Collateral Agent’s Lien on such Guarantor  Collateral shall be automatically released, and all rights therein shall revert to the  Guarantor.  Promptly following written request therefor by the Guarantor delivered to the  Collateral Agent at the request of the Guarantor following any such termination or release,  and at the expense of the Guarantor, the Collateral Agent shall execute and deliver to, and  authorize the filing by, the Guarantor all financing statement amendments or termination  statements and such other documents as the Guarantor shall reasonably request to evidence  such termination or release and the Collateral Agent shall promptly deliver to the Guarantor  all applicable Guarantor Collateral in its possession.  9. Representations and Warranties.  The Guarantor hereby represents and warrants to  the Beneficiaries that:  (a) The Guarantor (i) is a corporation duly organized, validly existing and in good  standing under the laws of the State of Delaware, (ii) has full power and authority to own  its properties and assets and to carry on its business as now being conducted and as  presently contemplated, and (iii) has full power and authority to execute, deliver and  perform its obligations under this Guarantee.  (b) The execution, delivery and performance by the Guarantor of its obligations under  this Guarantee will not (i) violate or conflict with (x) any provision of law, order,  judgment, or decree of any court or other agency or government,  (y) any provision of its  constitutional documents, or (z) any agreement or other instrument to which the  Guarantor is a party or is bound; (ii) result in a breach of, or constitute (with due notice  or lapse of time or both) a default under any contractual provision to which it is bound;  or (iii) result in the creation or imposition of any lien, charge or encumbrance of any  nature whatsoever upon any of the property or assets of the Guarantor pursuant to any  indenture, agreement or instrument (other than pursuant to this Guarantee), except in the  case of each of the foregoing clauses (i) through (iii) to the extent that any such conflict,  breach, default, lien, charge, encumbrance, or violation as applicable, could not  reasonably be expected to have a Material Adverse Effect.  (c) Except where the failure to obtain or make such consent, approval or authorization  could not reasonably be expected to have a Material Adverse Effect, all consents,  approvals, or authorizations from any Governmental Authority that are required to be  obtained in connection with or as a condition to the execution, delivery or performance  of this Guarantee have been obtained or made and are in full force and effect.  (d) The Guarantor is Solvent.  

 

  6  US-DOCS\137631201.6  (e) The Guarantor is not contemplating either a filing of a petition under any state or  federal bankruptcy law, or the liquidating of all or a major portion of its property; and  the Guarantor has no knowledge of any person contemplating the filing of such petition  against it.  (f) Perfection Representations.  (i) This Guarantee creates a valid and continuing security interest (as defined  in the applicable UCC) in the Guarantor’s right, title and interest in, to and under  the Guarantor Collateral which (A) security interest has been perfected and is  enforceable against the Guarantor and (B) will be free of all Adverse Claims in  such Guarantor Collateral, except for and, upon filing of the UCC-1 financing  statements referenced in Section 8(b), such security interest (A) will be perfected  in the Guarantor Collateral to the extent such Guarantor Collateral can be  perfected by the filing of a UCC-1 financing statement, (B) will be prior to all  Liens of creditors of the Guarantor or any other Person, other than Permitted Liens  and (C) will be free of all Liens in such Guarantor Collateral, other than Permitted  Liens.  (ii) The Guarantor owns and has good and marketable title to the Guarantor  Collateral free and clear of any Lien of any Person other than Liens permitted to  exist under the Note Purchase Agreement.  (iii) All appropriate financing statements, financing statement amendments  and continuation statements have been delivered to the proper filing office in the  appropriate jurisdictions under Applicable Law in order to perfect (and continue  the perfection of) the grant by the Guarantor of a security interest in the Guarantor  Collateral to the Collateral Agent pursuant to this Guarantee.  (iv) Other than the security interest granted to the Collateral Agent pursuant to  this Guarantee, the Guarantor has not pledged, assigned, sold, granted a security  interest in, or otherwise conveyed any of the Guarantor Collateral except as  permitted by the Note Documents.  The Guarantor has not authorized the filing of  and, except as otherwise notified to the Collateral Agent in writing, is not aware  of any financing statements filed against the Guarantor that include a description  of collateral covering the Guarantor Collateral other than any financing statement  (i) in favor of the Collateral Agent, (ii) evidencing a Permitted Lien, or (iii) that  has been terminated.  The Guarantor is not aware of any judgment lien, ERISA  lien or tax lien filings against the Guarantor that are not permitted by this  Guarantee and the other Note Documents.  (v) Notwithstanding any other provision of this Guarantee or any other Note  Document, the representations contained in this Section 9(f) shall be continuing  and remain in full force and effect until payment or conversion in full of the  Obligations (other than inchoate indemnity obligations).  

 

  7  US-DOCS\137631201.6  10. Incorporation by Reference.  The provisions of Sections 10.8 and 13.14 and  Exhibit D of the Note Purchase Agreement are incorporated herein by reference mutatis mutandis,  as if fully set forth herein, with each reference to “Issuer” being deemed to be a reference to the  Guarantor.  11. Subrogation.  The Guarantor shall be subrogated to all rights of the Beneficiaries  against the Issuer in respect of any amounts paid or deliveries made by the Guarantor pursuant to  the provisions of this Guarantee, provided, however, that the Guarantor shall not be entitled to  enforce, or to receive any payments arising out of or based upon, such right of subrogation until  payment in full of all of the Guaranteed Obligations.  12. Expenses of Enforcement.  The Guarantor further agrees to pay all reasonable and  documented out-of-pocket costs and expenses, including reasonable attorneys’ fees, which are  incurred by any of the Beneficiaries in any effort to collect or enforce any provision of this  Guarantee.  13. Set-Off.  Upon the Guaranteed Obligations becoming due and payable (by  acceleration or otherwise) under the Note Purchase Agreement or any other applicable Note  Document, each Beneficiary is hereby authorized to setoff, appropriate and apply (without  presentment, demand, protest or other notice which are hereby expressly waived) any deposits and  any other indebtedness held or owing by such Beneficiary  (including by any branches or agencies  of such Beneficiary) to, or for the account of, the Guarantor against amounts owing by the  Guarantor hereunder (even if contingent or unmatured); provided, that such Beneficiary shall  notify the Guarantor promptly following such setoff.  14. [Reserved].  15. Governing Law; Submission to Jurisdiction.  THIS GUARANTEE AND, TO THE  FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ALL MATTERS ARISING OUT  OF OR RELATING IN ANY WAY TO THIS GUARANTEE SHALL BE GOVERNED BY,  AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK  (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF  THE STATE OF NEW YORK, BUT WITHOUT REGARD TO ANY OTHER CONFLICTS OF  LAW PROVISIONS THEREOF, EXCEPT TO THE EXTENT THAT THE PERFECTION, THE  EFFECT OF PERFECTION OR PRIORITY OF THE INTERESTS OF COLLATERAL AGENT  OR ANY PURCHASER IN THE COLLATERAL IS GOVERNED BY THE LAWS OF A  JURISDICTION OTHER THAN THE STATE OF NEW YORK).  With respect to any suit, action  or proceedings relating to this Guarantee (“Proceedings”), the Guarantor irrevocably: (a) submits  to the exclusive jurisdiction of the courts of the State of New York and the United States District  Court located in the Borough of Manhattan in New York City and irrevocably agrees to designate  any Proceedings brought in the courts of the State of New York as “commercial” on the Request  for Judicial Intervention seeking assignment to the Commercial Division of the Supreme Court;  and (b) waives any objection which it may have at any time to the laying of venue of any  Proceedings brought in any such court, waives any claim that such Proceedings have been brought  in an inconvenient forum and further waives the right to object, with respect to such Proceedings  that such court does not have any jurisdiction over the Guarantor.  Nothing in this Guarantee  

 

  8  US-DOCS\137631201.6  precludes the Beneficiaries from bringing Proceedings in any other jurisdiction in order to enforce  any judgment obtained in any Proceedings referred to in the preceding sentence.  16. Waiver of Jury Trial.  EACH PARTY HERETO HEREBY WAIVES, TO THE  MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, TRIAL BY JURY IN ANY  JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER  (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING  OUT OF, RELATED TO, OR CONNECTED WITH THIS GUARANTEE OR ANY OTHER  NOTE DOCUMENT.  17. Successor and Assigns.  This Guarantee shall continue in full force and effect and  be binding upon the Guarantor and the successors and permitted assigns of the Guarantor,  provided, however, that the Guarantor may not assign or otherwise transfer this Guarantee or any  obligations hereunder without the prior written consent of the Required Purchasers and any such  assignment or transfer without such consent shall be void. The Beneficiaries may, concurrently  with any assignment of their rights and obligations in accordance with the Note Purchase  Agreement, assign this Guarantee or any rights or powers hereunder, with any or all of the  underlying liabilities or obligations, the payment of which is guaranteed hereunder, in each case,  subject to and in accordance with the terms and conditions of the Note Purchase Agreement.  18. Entire Agreement; Amendments and Waivers.  This Guarantee supersedes any  prior negotiations, discussions, or communications between the Beneficiaries and the Guarantor  and constitutes the entire agreement between the Beneficiaries and the Guarantor with respect to  the Note Purchase Agreement and this Guarantee. No provision of this Guarantee may be  amended, modified or waived without the prior written consent of the  Required Purchasers.  19. Notices.  All notices or other communications to the Guarantor and the  Beneficiaries shall be delivered pursuant to the requirements set forth in Section 10 of the Note  Purchase Agreement (the Guarantor’s address and email address for notices and other  communications shall be the same as that of the Issuer).  20. Intercreditor Agreement.  Notwithstanding anything herein to the contrary, the  Guaranteed Obligations, pursuant to this Guarantee and the exercise of any right or remedy by the  Collateral Agent and the other Secured Parties hereunder are subject to the provisions of the  Intercreditor Agreement.  In the event of any conflict or inconsistency between the provisions of  the Intercreditor Agreement and this Guarantee, the provisions of the Intercreditor Agreement shall  govern and control.  [SIGNATURE PAGE FOLLOWS]  

 

  [Signature Page to Guarantee]  IN WITNESS WHEREOF, the Guarantor has caused this Guarantee to be executed by one  of its duly authorized representatives or officers.  BIRD RIDES INTERNATIONAL HOLDING,  INC.  By: /s/ Shane Torchiana  Name: Shane Torchiana  Title: President and Chief Executive Officer  

 

  [Signature Page to Guarantee]  U.S. BANK TRUST COMPANY, NATIONAL  ASSOCIATION  By: /s/ Brandon Bonfig  Name: Brandon Bonfig  Title: Vice Presidenta104-birdxbirdcanadaguar

The indebtedness evidenced by this instrument or agreement is subject to the Subordination and  Intercreditor Agreement, dated as of December 30, 2022 , by and among, inter alia, Midcap Financial  Trust and U.S. Bank Trust Company, National Association and acknowledged by Bird Global, Inc.,  1393631 B.C. Unlimited Liability Company, Bird Canada Inc., Bird Rides Inc., Bird US Opco, LLC,  Bird US Holdco, LLC and Bird Rides International Holding, Inc.      Execution Version  1  CAN_DMS: \149683496\4  GUARANTEE  This GUARANTEE (the “Guarantee”), dated as of December 30, 2022, made jointly and  severally by Bird Canada Inc. and 1393631 B.C. Unlimited Liability Company (collectively, the  “Guarantors” and individually, a “Guarantor”), is in favor of U.S. Bank Trust Company, National  Association, as Collateral Agent (the “Collateral Agent”), and the Purchasers (the “Purchasers”  and collectively with the Collateral Agent, the “Beneficiaries”) under the Note Purchase  Agreement (as defined below).  RECITALS  1. Bird Global, Inc., a Delaware corporation (the “Issuer”), and the Beneficiaries have  entered into the Note Purchase Agreement dated as of December 30, 2022(as amended,  supplemented, or modified from time to time, the “Note Purchase Agreement”).  Capitalized terms  used herein and not otherwise defined herein shall have the meanings assigned to them in the Note  Purchase Agreement.  2. Prior to the Beneficiaries extending any credit to the Issuer under the Note Purchase  Agreement, the Issuer is required to provide the Beneficiaries with a guarantee duly executed by  the Guarantors, and this Guarantee is being delivered in satisfaction of such requirement.  3. The Guarantors, each a wholly-owned Subsidiary of the Issuer, derives substantial  direct and indirect benefits from the extensions of credit contemplated by the Note Purchase  Agreement.  GUARANTEE  As an inducement to the Beneficiaries to enter into the Note Purchase Agreement and for  other good and valuable consideration, the receipt and sufficiency of which are hereby  acknowledged, each Guarantor agrees as follows:  1. Guarantee.  Each Guarantor hereby unconditionally and irrevocably jointly and  severally guarantees (as primary obligor and not merely as surety) to the Beneficiaries and their  successors and permitted assigns the punctual and complete payment of all amounts due and  payable and performance of all other obligations (now or hereafter arising, by acceleration or  otherwise) by (i) the Issuer under the Note Purchase Agreement and under the other Note  Documents (including all Obligations), and (ii) each other Note Party (other than such Guarantor)   under the Note Documents to which such Note Party is a party (the “Guaranteed Obligations”)  without regard to any defense of any kind which such Guarantor may have or assert, and without  abatement, suspension, deferment or diminution of any event or condition whatsoever.  2. Indemnity. If any or all of the Guaranteed Obligations are not paid or performed by  the Issuer or any other Note Party, as applicable, and are not paid or performed by the Guarantors  

 

   2  CAN_DMS: \149683496\4  or any of them under Section 1 for any reason whatsoever, the Guarantors will, as a separate and  distinct obligation, on a joint and several basis, indemnify and save harmless the Beneficiaries  from and against all losses, costs and expenses suffered or incurred by them arising from, or in  connection with, or as a result of (a) any of the provisions of the Note Purchase Agreement or any  of the Note Documents being or becoming void, voidable, unenforceable or invalid, or (b) the  failure of the Issuer or any other Note Party, as applicable, to fully and promptly pay or perform  any of the Guaranteed Obligations.  3. Primary Obligations. If any or all of the Guaranteed Obligations are not paid or  performed by the Issuer or any other Note Party, as applicable,  and are not paid or performed by  the Guarantors or any of them under Section 1 or the Beneficiairies are not indemnified under  Section 2, in each case, for any reason whatsoever, such Guaranteed Obligations will, as a separate  and distinct obligation, be paid and performed by the Guarantors as primary obligors, on a joint  and several basis, immediately upon written demand to the Guarantors by the Beneficiaries for  such payment or performance.  4. Guarantee Absolute and Unconditional.  Each Guarantor hereby agrees that its  obligations shall be absolute, irrevocable, and unconditional and, without limiting the generality  of the foregoing, shall not be released, discharged, or otherwise affected by:  (a) any failure or delay to enforce the provisions of the Note Purchase Agreement or  the other Note Documents;   (b) any contest by the Issuer or any other Person as to the amount of the Guaranteed  Obligations or the validity or enforceability of any terms of the Note Documents or the  perfection or priority of any security interest granted to the Beneficiaries by the Issuer or  any other Personthe perfection, release or extent of any Collateral or Guarantor Collateral  (as defined below) or any failure to realize on any Collateral or Guarantor Collateral;  (c) any waiver, modification, or consent to departure from, or amendment of the Note  Purchase Agreement or other Note Documents;  (d) any taking or failure to take a security interest by the Beneficiaries or any loss of,  or loss of value of, any security interest granted to the Beneficiaries;  (e) any defence, counter-claim or right of set-off available to the Issuer or any other  Person;  (f) the invalidity, illegality, or unenforceability of the Note Purchase Agreement or  other Note Documents or the Guaranteed Obligations;   (g) any limitation of status or power, disability, incapacity or other circumstance  relating to the Issuer, any of the Guarantors or any other Person, including any bankruptcy,  insolvency, reorganization, composition, adjustment, dissolution, liquidation, winding-up  or other like proceeding involving or affecting the Issuer, any of the Guarantors or any  other Person or any action taken with respect to this Guarantee by any trustee or receiver,  or by any court, in any such proceeding, whether or not such Guarantor has notice or  knowledge of any of the foregoing;  

 

   3  CAN_DMS: \149683496\4  (h) any impossibility, impracticability, frustration of purpose, force majeure or  illegality of any of the Note Documents or the Issuer’s or any Note Party’s performance in  respect thereof, or the occurrence of any change in the law of any jurisdiction or by any  present or future action of any governmental authority that amends, varies, reduces or  otherwise affects, or purports to amend, vary, reduce or otherwise affect, any of the  Guaranteed Obligations or the obligations of the Guarantors under this Guarantee, or the  obtaining of any court order that amends, varies, reduces or otherwise affects any of the  Guaranteed Obligations or the obligations of the Guarantors under this Guarantee;  (i) any change in the corporate existence, structure, or ownership of the Issuer or the  other Note Parties;  (j) any extension of time or times for payment or performance of the Guaranteed  Obligations or any releases, variations or indulgences which the Beneficiaries may grant  to the Issuer or any other Person or any extinguishment of all or any part of the  Guaranteed Obligations by operation of law; or   (k) any other circumstances (other than payment or conversion in full of the  Obligations or the Guaranteed Obligations) which may otherwise constitute a legal or  equitable discharge of a surety or guarantor.   This Guarantee constitutes a guarantee of payment when due and not of collection.  The  Beneficiaries have no duty or responsibility whatsoever to the Guarantors and make no  representation or warranty in respect of the management and maintenance of the Guaranteed  Obligations or any collateral therefor.    5. Waiver by Guarantors.  Each Guarantor agrees that the Beneficiaries may at any  time and from time to time, either before or after the maturity thereof, without notice to or further  consent of any Guarantor, extend the time of payment of, exchange or surrender any collateral for,  or renew any of the Guaranteed Obligations, and may also make any agreement with the Issuer  or  any other Person for the extension, renewal, payment, compromise, discharge, or release thereof,  in whole or in part, for any modification of the terms thereof or of any agreement between any of  the Beneficiaries and the Issuer or any other Note Party without in any way impairing or affecting  this Guarantee.  Each Guarantor hereby waives notice of acceptance of this Guarantee, diligence,  acceleration, presentment, notice of default or demand of payment to or upon the Issuer, any other  Note Party or any Guarantor, filing of claims with a court in the event of merger or bankruptcy of  the Issuer, any right or requirement to proceed first against the Issuer or any other Note Party, any  protest or notice with respect to the Note Purchase Agreement  or any other Note Document or the  obligations created or evidenced thereby and all demands whatsoever, any exchange, sale or  surrender of, or realization on, any other guarantee or any collateral, and any and all other notices  and surety defenses (other than payment in full) whatsoever.  The Beneficiaries shall not be  obligated to file any claim relating to the Guaranteed Obligations in the event that the Issuer or  any other Note Party becomes subject to a bankruptcy, reorganization or similar proceeding, and  the failure of the Beneficiaries to so file shall not affect the  obligations of the Guarantors  hereunder.  

 

   4  CAN_DMS: \149683496\4  6. Reinstatement in Certain Instances.  The Guarantors further agree that if any  payment or delivery of any of the Guaranteed Obligations is subsequently rescinded or is  subsequently recovered from or repaid by the recipient thereof, in whole or in part, in any  bankruptcy, reorganization, insolvency or similar proceedings instituted by or against the Issuer,  or otherwise, each Guarantor’s obligations hereunder with respect to such Guaranteed Obligation  shall be reinstated at such time to the same extent as though the payment or delivery so recovered  or repaid had not been originally made.    7. Security Interest. As security for the performance by each Guarantor of all the  terms, covenants and agreements on the part of such Guarantor to be performed under this  Guarantee and any other Note Documents to which it is a party such Guarantor has entered into a  pledge and collateral agreement dated on or about the date hereof (the “Security Agreement”)  granting a pledge and security interest in the collateral described therein (the “Guarantor  Collateral”). Subject to the terms of the Security Agreement, upon any sale or other transfer of any  Guarantor Collateral in a transaction permitted under and in accordance with the terms of the Note  Purchase Agreement, or upon the effectiveness of any written consent of the Collateral Agent to  the release of the Liens granted hereby on any Guarantor Collateral, the Collateral Agent’s Lien  on such Guarantor Collateral shall be automatically released, and all rights therein shall revert to  the applicable Guarantor.  8. Representations and Warranties.  The Guarantors hereby jointly and severally  represent and warrant to the Beneficiaries that:  (a) Each Guarantor (i) is a corporation duly organized, validly existing and in good  standing under the laws of the Province of its incorporation , (ii) has full power and  authority to own its properties and assets and to carry on its business as now being  conducted and as presently contemplated, and (iii) has full power and authority to  execute, deliver and perform its obligations under this Guarantee.  (b) The execution, delivery and performance by each Guarantor of its obligations  under this Guarantee will not (i) violate or conflict with (x) any provision of law, order,  judgment, or decree of any court or other agency or government,  (y) any provision of its  constitutional documents, or (z) any agreement or other instrument to which such  Guarantor is a party or is bound; (ii) result in a breach of, or constitute (with due notice  or lapse of time or both) a default under any contractual provision to which it is bound;  or (iii) result in the creation or imposition of any lien, charge or encumbrance of any  nature whatsoever upon any of the property or assets of such Guarantor pursuant to any  indenture, agreement or instrument (other than pursuant to this Guarantee), except in the  case of each of the foregoing clauses (i) through (iii) to the extent that any such conflict,  breach, default, lien, charge, encumbrance, or violation as applicable, could not  reasonably be expected to have a Material Adverse Effect.  (c) Except where the failure to obtain or make such consent, approval or authorization  could not reasonably be expected to have a Material Adverse Effect, all consents,  approvals, or authorizations from any Governmental Authority that are required to be  obtained in connection with or as a condition to the execution, delivery or performance  of this Guarantee have been obtained or made and are in full force and effect.  

 

   5  CAN_DMS: \149683496\4  (d) Each Guarantor is Solvent.  (e) Neither Guarantor is contemplating either a filing of a petition under any federal  or provincial bankruptcy law, or the liquidating of all or a major portion of its property;  and neither Guarantor has any knowledge of any person contemplating the filing of such  petition against it.  (f) Notwithstanding any other provision of this Guarantee or any other Note  Document, the representations contained in this Section 8 shall be continuing and remain  in full force and effect until payment or conversion in full of the Guaranteed Obligations  (other than inchoate indemnity obligations).  9. Subrogation.  Each Guarantor shall be subrogated to all rights of the Beneficiaries  against the Issuer and the other Note Parties in respect of any amounts paid or deliveries made by  such Guarantor pursuant to the provisions of this Guarantee, provided, however, that the  Guarantors shall not be entitled to enforce, or to receive any payments arising out of or based upon,  such right of subrogation until indefeasible and final payment in full of all of the Guaranteed  Obligations.  10. Expenses of Enforcement.  The Guarantors further agree to pay, on a joint and  several basis, all reasonable and documented out-of-pocket costs and expenses, including  reasonable attorneys’ fees, which are incurred by any of the Beneficiaries in any effort to collect  or enforce any provision of this Guarantee.  11. Set-Off.  Upon the Guaranteed Obligations becoming due and payable (by  acceleration or otherwise) under the Note Purchase Agreement or any other applicable Note  Document, each Beneficiary is hereby authorized to setoff, appropriate and apply (without  presentment, demand, protest or other notice which are hereby expressly waived) any deposits and  any other indebtedness held or owing by such Beneficiary  (including by any branches or agencies  of such Beneficiary) to, or for the account of, any Guarantor against amounts owing by such  Guarantor hereunder (even if contingent or unmatured); provided, that such Beneficiary shall  notify such Guarantor promptly following such setoff.  12. Interest Act (Canada). Each Guarantor acknowledges that certain of the rates of  interest applicable to the Guaranteed Obligations may be computed on the basis of a year of 360  days or 365 days, as the case may be and paid for the actual number of days elapsed.  For purposes  of the Interest Act (Canada), whenever any interest is calculated using a rate based on a year of  360 days or 365 days, as the case may be, such rate determined pursuant to such calculation, when  expressed as an annual rate is equivalent to (a) the applicable rate based on a year of 360 days or  365 days, as the case may be, (b) multiplied by the actual number of days in the calendar year in  which the period for such interest is payable (or compounded) ends, and (c) divided by 360 or 365,  as the case may be.  13. Severability. If any provision of this Guarantee is determined by a court of  competent jurisdiction to be illegal, invalid or unenforceable that provision will be severed from  this Guarantee and the remaining provisions will continue in full force and effect, without  limitation.  

 

   6  CAN_DMS: \149683496\4  14. Governing Law; Submission to Jurisdiction.  THIS GUARANTEE AND, TO THE  FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ALL MATTERS ARISING OUT  OF OR RELATING IN ANY WAY TO THIS GUARANTEE SHALL BE GOVERNED BY,  AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE PROVINCE OF  ONTARIO AND THE FEDERAL LAWS OF CANADA APPLICABLE THEREIN).  With  respect to any suit, action or proceedings relating to this Guarantee (“Proceedings”), each  Guarantor irrevocably: (a) submits to the non-exclusive jurisdiction of the courts of the Province  of Ontario; and (b) agrees that all claims in respect of any suit, action or proceeding may be heard  and determined in such court and (c) waives any objection which it may have at any time to the  laying of venue of any Proceedings brought in any such court, waives any claim that such  Proceedings have been brought in an inconvenient forum and further waives the right to object,  with respect to such Proceedings that such court does not have any jurisdiction over such  Guarantor.  Nothing in this Guarantee precludes the Beneficiaries from bringing Proceedings in  any other jurisdiction in order to enforce any judgment obtained in any Proceedings referred to in  the preceding sentence.  15. Waiver of Jury Trial.  EACH PARTY HERETO HEREBY WAIVES, TO THE  MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, TRIAL BY JURY IN ANY  JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER  (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING  OUT OF, RELATED TO, OR CONNECTED WITH THIS GUARANTEE OR ANY OTHER  NOTE DOCUMENT.  16. Judgment Currency.   (a) If for the purposes of obtaining judgment in any court it is necessary to  convert all or any part of the Guaranteed Obligations or any other amount  due to the relevant Beneficiaries in respect of a Guarantor’s obligations  under this Guarantee in any currency (the “Original Currency”) into another  currency (the “Other Currency”), such Guarantor, to the fullest extent that  it may effectively do so, agrees that the rate of exchange used will be that  at which, in accordance with normal banking procedures, the relevant  Beneficiary could purchase the Original Currency with the Other Currency  on the Business Day preceding that on which final judgment is paid or  satisfied.  (b) The obligations of a Guarantor in respect of any sum due in the Original  Currency from it to any of the Beneficiaries will, notwithstanding any  judgment in any Other Currency, be discharged only to the extent that on  the Business Day following receipt by the relevant Beneficiaries of any sum  adjudged to be so due in such Other Currency the relevant Beneficiaries  may, in accordance with their normal banking procedures, purchase the  Original Currency with such Other Currency.  If the amount of the Original  Currency so purchased is less than the sum originally due to the Lender in  the Original Currency, such Guarantor agrees, as a separate obligation and  notwithstanding any such judgment, to indemnify such Beneficiaries  against such loss.  

 

   7  CAN_DMS: \149683496\4  17. Successor and Assigns.  This Guarantee shall continue in full force and effect and  be binding upon the Guarantors and the successors and permitted assigns of the Guarantors,  provided, however, that the Guarantors may not assign or otherwise transfer this Guarantee or any  obligations hereunder without the prior written consent of the Required Purchasers and any such  assignment or transfer without such consent shall be void. The Beneficiaries may, concurrently  with any assignment of their rights and obligations in accordance with the Note Purchase  Agreement, assign this Guarantee or any rights or powers hereunder, with any or all of the  underlying liabilities or obligations, the payment of which is guaranteed hereunder, in each case,  subject to and in accordance with the terms and conditions of the Note Purchase Agreement.  18. Entire Agreement; Amendments and Waivers.  This Guarantee, together with the  other Note Documents to which each Guarantor is a party, supersedes any prior negotiations,  discussions, or communications between the Beneficiaries and the Guarantors or any of them and  constitutes the entire agreement between the Beneficiaries and the Guarantors with respect to the  Note Purchase Agreement and this Guarantee. No provision of this Guarantee may be amended,  modified or waived without the prior written consent of the  Required Purchasers.  19. Notices.  All notices or other communications to the Guarantors and the  Beneficiaries shall be delivered pursuant to the requirements set forth in Section 10 of the Note  Purchase Agreement (each Guarantor’s address and email address for notices and other  communications shall be the same as that of the Issuer).  20. Counterparts. This Guarantee may be executed in any number of separate  counterparts, each of which shall be deemed to be an original.  All such signed counterparts, taken  together, shall constitute one and the same instrument.  Delivery of an executed signature page to  this Guarantee by electronic means (including by facsimile or in PDF format) shall be as valid and  effective as delivery of an originally or manually executed copy of this Guarantee.    [SIGNATURE PAGE FOLLOWS]  

 

  [Signature Page to Guarantee] CAN_DMS: \149683496\4  IN WITNESS WHEREOF, each Guarantor has caused this Guarantee to be executed by  one of its duly authorized representatives or officers.    1393631 B.C. UNLIMITED LIABILITY  COMPANY  By: /s/ Stewart Lyons  Name: Stewart Lyons  Title: Chief Executive Officer                                                                      [Signature pages continue.]  

 

   [Signature Page to Guarantee] CAN_DMS: \149683496\4    IN WITNESS WHEREOF, each Guarantor has caused this Guarantee to be executed by  one of its duly authorized representatives or officers.    BIRD CANADA INC.  By: /s/ Shane Torchiana  Name: Shane Torchiana  Title: Chief Executive Officer

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