Document:

Exhibit 10.6

 

 

SECURITIES ACCOUNT CONTROL AGREEMENT

 

among

 

HONDA
AUTO RECEIVABLES 2022-2 OWNER TRUST,

as Issuer,

 

U.S.
BANK TRUST COMPANY, NATIONAL ASSOCIATION,

in its capacity as Indenture Trustee

 

and

 

U.S.
BANK NATIONAL ASSOCIATION,

as Securities Intermediary

 

Dated as of August 24, 2022

 

 

 

HAROT 2022-2 

Securities Account Control Agreement 

     

     

    

 

Table
of Contents

 

Page

 

	ARTICLE I	DEFINITIONS	 
	 	 	 
	Section 1.1	Defined Terms	1
	 	 	 
	ARTICLE II	ACCOUNTS	 
	 	 	 
	Section 2.1	Accounts	1
	 	 	 
	ARTICLE III	RIGHTS OF THE SECURED PARTY	 
	 	 	 
	Section 3.1	Control of Accounts by Secured Party	2
	Section 3.2	No Control by Issuer or Third Parties Concerning Accounts	2
	Section 3.3	Perfection of Security Interests in Accounts	3
	Section 3.4	Notices of Adverse Claims	3
	 	 	 
	ARTICLE IV	RIGHTS AND Responsibilities of Securities Intermediary	 
	 	 	 
	Section 4.1	Limited Obligations	3
	 	 	 
	ARTICLE V	MISCELLANEOUS	 
	 	 	 
	Section 5.1	Amendment and Other Modifications	3
	Section 5.2	Termination; Survival	4
	Section 5.3	Governing Law; Submission to Jurisdiction; Waiver of Jury Trial	4
	Section 5.4	Binding Agreement; Successors and Assigns	4
	Section 5.5	Severability of Provisions	4
	Section 5.6	Notices to Indenture Trustee, Issuer and Securities Intermediary	5
	Section 5.7	Headings	5
	Section 5.8	Counterparts	5
	Section 5.9	Concerning the Secured Party	6
	Section 5.10	Indemnification	6
	Section 5.11	No Proceedings	6
	Section 5.12	Limited Recourse	6
	Section 5.13	Limitations on Liability of Securities Intermediary	7
	Section 5.14	Limitation of
Liability of Owner Trustee	8

 

    -i-

     

    

 

SECURITIES
ACCOUNT CONTROL AGREEMENT (this “Agreement”), dated as of August 24, 2022, among HONDA AUTO RECEIVABLES
2022-2 OWNER TRUST, as Issuer (the “Issuer”), U.S. BANK NATIONAL ASSOCIATION, as Securities Intermediary
(the “Securities Intermediary”) and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, in its capacity as
Indenture Trustee (the “Secured Party”).

 

PREAMBLE

 

Pursuant to the Indenture, dated as of August 24,
2022, by and among the Issuer, the Securities Intermediary and the Indenture Trustee (as amended or modified from time to time, the “Indenture”),
the Issuer has granted to the Secured Party, for the benefit of the Noteholders, a first priority security interest in the Accounts,
together with all cash, securities, financial assets and investments and other property from time to time deposited or credited to the
Accounts and all proceeds thereof (collectively, the “Account Property”). The Accounts currently existing under the
Sale and Servicing Agreement are the Collection Account, the Note Distribution Account, the Yield Supplement Account and the Reserve
Fund maintained and held at the Securities Intermediary by the Issuer, subject to the first priority security interest of the Secured
Party for the benefit of the Noteholders in the Accounts granted by the Issuer to the Secured Party to secure payment of the Notes.

 

The parties hereto are entering into this Agreement
to perfect the Secured Party’s security interest in the Accounts by “control,” within the meaning of Articles
8 and 9 of the Uniform Commercial Code as in effect in the State of New York (the “UCC”).

 

ARTICLE I

 

DEFINITIONS

 

Section 1.1     Defined
Terms. Except as otherwise specified herein or if the context may otherwise require, capitalized terms used but not otherwise defined
herein have the meanings ascribed thereto in the Sale and Servicing Agreement, dated as of the date hereof (as amended or modified from
time to time, the “Sale and Servicing Agreement”), by and among American Honda Receivables LLC, as seller, American
Honda Finance Corporation, as servicer, and the Issuer.

 

ARTICLE II

 

ACCOUNTS

 

Section 2.1     Accounts.

 

(a)            The
Securities Intermediary represents and warrants to each of the Secured Party and the Issuer that the Securities Intermediary does not
know of any claim to or interest in the Accounts, except the first priority security interest of the Secured Party in the Accounts for
the benefit of the Noteholders and the other claims and interests of the parties referred to in this Agreement. The Securities Intermediary
does not have and shall not have in the future, any security interest, lien or right of setoff on or against the Accounts.

 

 HAROT 2022-2

Securities Account Control Agreement

 

     

     

    

 

(b)            The
Securities Intermediary, the Issuer and the Secured Party agree that the Securities Intermediary is the securities intermediary and the
Indenture Trustee is the entitlement holder as to each Account subject to the first priority security interest of the Secured Party.

 

(c)            The
Securities Intermediary, the Issuer and the Secured Party agree that all property credited to the Accounts shall be treated as “financial
assets” under Article 8 of the UCC.

 

(d)            The
Securities Intermediary shall not accept any “entitlement order,” within the meaning of Section 8-102(a)(8) of
the UCC, or other instruction regarding the Accounts except from the Secured Party and, subject to Section 3.1(b), the Issuer.

 

(e)            The
Securities Intermediary, the Issuer and the Secured Party agree that, with respect to the Accounts, the jurisdiction of the Securities
Intermediary for purposes of Articles 8 and 9 of the UCC shall be the State of New York.

 

(f)            The
Securities Intermediary shall at all times be a “participant” (as such term is defined in the Federal Book-Entry Regulations)
in the Federal Reserve System.

 

ARTICLE III

 

RIGHTS OF THE SECURED PARTY

 

Section 3.1     Control
of Accounts by Secured Party.

 

(a)            Subject
to Section 3.1(b), the Securities Intermediary shall comply with any entitlement order originated by the Secured Party or
the Issuer. The Securities Intermediary, the Issuer and the Secured Party agree that the Securities Intermediary shall comply with
any entitlement order originated by the Secured Party without further consent of the Issuer.

 

(b)            If
the Secured Party notifies the Securities Intermediary that the Secured Party will exercise exclusive control over the Accounts (a “notice
of exclusive control”), then the Securities Intermediary shall not comply with any contrary or otherwise inconsistent instructions
or other directions concerning the Accounts originated by the Issuer unless and until such notice of exclusive control is withdrawn by
the Secured Party. The Secured Party shall only give such notice of exclusive control upon the occurrence and during the continuance
of an Event of Default and the acceleration of the payment of principal and interest on the Notes in accordance with the Indenture (without
the related declaration of acceleration and its consequences having been rescinded or annulled), after expiration of the related period
specified in Article V of the Indenture limiting actions in respect of such Event of Default.

 

Section 3.2     No
Control by Issuer or Third Parties Concerning Accounts. The Securities Intermediary shall not comply with any instructions of
the Issuer (except to the extent permitted under Section 3.1(b)) concerning the Accounts (including any order that is originated
by the Issuer and that would require the Securities Intermediary to make a free delivery of Accounts to the Issuer or any other person).
Additionally, the Securities Intermediary shall not agree with any third party (other than the Secured Party) that the Securities Intermediary
will comply with orders originated by such third party concerning the Accounts.

 

 HAROT 2022-2

Securities Account Control Agreement

 

    -2- 

     

    

 

Section 3.3     Perfection
of Security Interests in Accounts. It is intended that the first priority security interest of the Secured Party in the Accounts
be perfected by control of the Accounts under Sections 8-106(d)(2), 9-106(a) and 9-314(a) of the UCC. In addition, it is intended
for purposes of Articles 8 and 9 of the UCC that (i) the Indenture Trustee be deemed to be the related “entitlement holder”,
(ii) the Securities Intermediary be deemed to be the related “securities intermediary”, (iii) all such property
held by the Securities Intermediary in the Accounts and all rights of the Issuer against the Securities Intermediary arising out of such
property, including any free credit balances, be deemed to be “financial assets”, and (iv) the Secured Party be deemed
to have “control” of such Accounts under Section 8-106(d)(2) of the UCC with respect to the first priority security
interest therein granted to the Secured Party pursuant to the Indenture. With respect to any proceeds of the Account Property that constitute
a Deposit Account, it is intended for purposes of Article 9 of the UCC that (i) the Securities Intermediary is the bank with
which the Deposit Account is maintained and the Indenture Trustee is the bank’s customer with respect to the Deposit Account, and
(ii) the Issuer, the Secured Party and the Securities Intermediary agree that the Securities Intermediary will comply with instructions
originated by the Secured Party directing disposition of funds in the Deposit Accounts without further consent of the Issuer.

 

Section 3.4     Notices
of Adverse Claims. The Securities Intermediary shall promptly notify the Secured Party and the Issuer if any other person claims
that it has a property interest in the Accounts or that it is a violation of such person’s rights for anyone else to hold, transfer
or deal with the Accounts.

 

ARTICLE IV

 

RIGHTS
AND Responsibilities of Securities Intermediary

 

Section 4.1     Limited
Obligations. This Agreement does not create any obligation of the Securities Intermediary except for those expressly set forth in
this Agreement. The Securities Intermediary may conclusively rely and shall be fully protected in acting or refraining from acting upon
notices and communications it believes to be genuine and given by the appropriate party. Except for permitting a withdrawal, delivery
or payment in violation of Article III, the Securities Intermediary shall not be liable to the Secured Party or the Issuer for any
error of judgment made in good faith and in accordance with this Agreement, nor shall it otherwise be liable under this Agreement except
as a result of its own willful misconduct, bad faith or negligence.

 

ARTICLE V

 

MISCELLANEOUS

 

Section 5.1     Amendment
and Other Modifications. This Agreement may be amended, supplemented or otherwise modified from time to time, and the observance
of any term of this Agreement may be waived, by the parties hereto. Any such modification or waiver of this Agreement shall be in writing
and shall be signed by all the parties hereto.

 

HAROT 2022-2

Securities Account Control Agreement

 

    -3- 

     

    

 

Section 5.2     Termination;
Survival. This Agreement shall terminate upon satisfaction and discharge of the Indenture. However, Article IV shall survive
termination of this Agreement.

 

Section 5.3     Governing
Law; Submission to Jurisdiction; Waiver of Jury Trial THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE
OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL
BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. Regardless of any provision in any other agreement,
for purposes of the UCC, New York shall be deemed to be the Securities Intermediary’s jurisdiction, and the law of the State of
New York shall govern all issues specified in Article 2(1) of the Hague Securities Convention.

 

Each of the parties hereto hereby submits to the
exclusive jurisdiction of the United States District Court for the Southern District of New York and of any New York State court sitting
in New York City for purposes of all legal proceedings arising out of or relating to this Indenture or the transactions contemplated
hereby. Each of the parties hereto hereby further irrevocably waives any claim that any such courts lack jurisdiction over such party,
and agrees not to plead or claim, in any legal action or proceeding with respect to this Agreement in any of the aforesaid courts, that
any such court lacks jurisdiction over such party. Each of the parties hereto irrevocably waives, to the fullest extent permitted by
law, any objection that it may now or hereafter have to the laying of the venue of any such proceeding brought in such a court and any
claim that any such proceeding brought in such a court has been brought in an inconvenient forum.

 

Each party hereto hereby waives, to the fullest
extent permitted by applicable law, any right it may have to a trial by jury in respect of any litigation directly or indirectly arising
out of, under or in connection with this Agreement.

 

Section 5.4     Binding
Agreement; Successors and Assigns. All covenants and agreements in this Agreement by the Issuer shall bind its successors and assigns,
whether so expressed or not. All agreements of the Secured Party or the Securities Intermediary in this Agreement shall bind its successors,
co-trustees and agents.

 

Section 5.5     Severability
of Provisions. If any one or more of the covenants, agreements, provisions or terms of this Agreement shall for any reason whatsoever
be held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements,
provisions and terms of this Agreement and shall in no way affect the validity or enforceability of the other covenants, agreements,
provisions or terms of this Agreement or any amendment or supplement hereto.

 

 HAROT 2022-2

Securities Account Control Agreement

 

    -4- 

     

    

 

Section 5.6     Notices
to Indenture Trustee, Issuer and Securities Intermediary. All demands, notices, communications and instructions upon or
to the Issuer, the Secured Party or the Securities Intermediary under this Agreement shall be in writing, personally delivered, mailed
by certified mail, return receipt requested, or delivered by facsimile or electronically by email (if an email address is provided),
and shall be deemed to have been duly given upon receipt (a) in the case of the Issuer, to Honda Auto Receivables 2022-2, c/o The
Bank of New York Mellon 240 Greenwich Street, Floor 7 West, New York, NY 10286, Attention: Asset Backed Securities Unit – Honda
Auto Receivables 2022-2, with a copy to American Honda Finance Corporation, 1919 Torrance Blvd. 5th Floor, Torrance, CA 90501, Attention:
Manager, Treasury Capital Markets; (b) in the case of the Indenture Trustee, to U.S. Bank Trust Company, National Association, 190
South LaSalle Street, 7th Floor, Chicago, IL 60603 (facsimile no. (312) 332-7493) (email: mirtza.escobar@usbank.com), Attention:
Corporate Trust Services – Honda Auto Receivables 2022-2; and (c) in the case of the Securities Intermediary, to U.S. Bank
National Association, 190 South LaSalle Street, 7th Floor, Chicago, IL 60603 (facsimile no. (312) 332-7493) (email: juan.hernandez3@usbank.com),
Attention: HAROT 2022-2; or, as to each of the foregoing, at such other address as shall be designated by written notice to the other
parties.

 

Section 5.7     Headings.
The headings herein are for purposes of reference only and shall not otherwise affect the meaning or interpretation of any provision
hereof.

 

Section 5.8     Counterparts.

 

(a)            This
Agreement may be executed in two or more counterparts, (and by different parties on separate counterparts), each of which shall be an
original, but all of which together shall constitute one and the same instrument. Delivery of an executed counterpart of a signature
page of this Agreement by telecopy, e-mailed .pdf or any other electronic means that reproduces an image of the actual executed
signature page shall be effective as delivery of a manually executed counterpart of this Agreement. The words “execution,”
 “signed,” “signature,” “delivery,” and words of like import in or relating to any document to be
signed in connection with this Agreement and the transactions contemplated hereby shall be deemed to include electronic signatures, deliveries
or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually
executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and
as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act or any other similar
state laws based on the Uniform Electronic Transactions Act.

 

(b)            The
Issuer, the Indenture Trustee and the Securities Intermediary are authorized to accept written instructions, directions, reports, notices
or other communications signed manually, by way of faxed signatures, or delivered by Electronic Transmission. In the absence of bad faith
or negligence on its part, each of the Issuer, the Indenture Trustee and the Securities Intermediary may conclusively rely on the fact
that the Person sending instructions, directions, reports, notices or other communications or information by Electronic Transmission
is, in fact, a Person authorized to give such instructions, directions, reports, notices or other communications or information on behalf
of the party purporting to send such Electronic Transmission and, in the absence of bad faith or negligence, shall not have any liability
for any losses, liabilities, costs or expenses incurred or sustained by any party as a result of such reliance upon or compliance with
such instructions, directions, reports, notices or other communications or information to the Issuer, the Indenture Trustee and the Securities
Intermediary, including, without limitation, the risk of either the Issuer, the Indenture Trustee or the Securities Intermediary acting
on unauthorized instructions, notices, reports or other communications or information, and the risk of interception and misuse by third
parties.

 

HAROT 2022-2

Securities Account Control Agreement

 

    -5- 

     

    

 

Section 5.9     Concerning
the Secured Party. To the extent that the rights, protections and immunities of the Secured Party are not explicitly stated herein,
the Secured Party shall enjoy the same rights, protections and immunities afforded to it in the Indenture.

 

Section 5.10     Indemnification.
The indemnification furnished to the Secured Party under Section 6.07 of the Indenture shall extend to and cover the exercise of
its respective rights and the performance of its respective obligations under this Agreement. To the extent U.S. Bank National Association
is acting as Securities Intermediary, such indemnification furnished to the Secured Party under Section 6.07 of the Indenture shall
also extend to and cover the exercise of the Securities Intermediary’s rights and the performance of its obligations under this
Agreement. This Section 5.11 shall survive the resignation or removal of the parties and the termination of this Agreement.

 

Section 5.11     No
Proceedings. Each of the Securities Intermediary and the Secured Party hereby agree that, from and after the Closing Date and until
the date one (1) year plus one (1) day following the date on which all amounts due with respect to the Notes have been paid
in full in cash, it will not directly, or indirectly, institute or cause to be instituted against the Issuer any proceedings of the type
referred to in the definition of “Insolvency Event”; provided, that the foregoing shall not in any way limit the Securities
Intermediary’s or the Secured Party’s right to pursue any claims against the Issuer in any proceeding voluntarily commenced
by the Issuer or in any proceeding commenced by a Person other than the Indenture Trustee or other creditor rights or remedies that the
Securities Intermediary or the Secured Party may have for claims against the Issuer under Applicable Law.

 

Section 5.12     Limited
Recourse. Notwithstanding any other provision of this Agreement, the Notes or the Indenture, the obligations of the Issuer hereunder
and thereunder are limited-recourse obligations of the Issuer. Such obligations are non-recourse to the Issuer, its assets and its property
other than the Collateral, and are payable solely from the Collateral, subject to any prior security interests therein, and following
realization of the Collateral, any claims of any party hereto under this Agreement, the Notes or the Indenture (other than
the Issuer) shall be extinguished and shall not thereafter be reinstated. No recourse shall be had against any principal, director, officer,
employee, beneficiary, shareholder, partner, member, trustee, agent or affiliate of the Issuer or any person owning, directly or indirectly,
any legal or beneficial interest in the Issuer, or any successors or assigns of any of the foregoing (the “Exculpated Parties”)
for the payment of any amounts payable hereunder or thereunder. No party hereto (other than the Issuer) shall enforce
the liability and obligation of the Issuer to perform and observe the obligations contained in this Agreement, the Notes and the other
Basic Documents to which the Issuer is a party by any action or proceeding wherein a money judgment establishing any personal liability
shall be sought against the Issuer, subject to the following sentence, or the Exculpated Parties. It is understood that the foregoing provisions
of this Section 5.13 shall not (i) prevent recourse to the Collateral for the sums due or to become due under any security,
instrument or agreement which is part of the Collateral, (ii) constitute a waiver, release or discharge of any indebtedness or obligation
of the Issuer under the Notes, or secured by the Indenture, until the Collateral has been realized, whereupon any such outstanding
indebtedness or obligation shall be extinguished, (iii) limit the right of any Person to name the Issuer as a party defendant
in any action or suit or in the exercise of any other remedy under this Agreement and the other Basic Documents, so long as no judgment
in the nature of a deficiency judgment or seeking personal liability shall be asked for or (if obtained) enforced against the Issuer,
(iv) impair the right of any party hereto (other than the Issuer) to obtain the appointment of a receiver or (v) constitute
a waiver of any right which any party hereto (other than the Issuer) may have under any applicable insolvency laws to file a claim
for the full amount of the indebtedness or obligations secured by the Indenture or to require that the Collateral shall
continue to secure all of the indebtedness or obligations owing to the Noteholders in accordance with the Notes and the Basic
Documents to which the Issuer is a party.

 

 HAROT 2022-2

Securities Account Control Agreement

 

    -6- 

     

    

 

Section 5.13     Limitations
on Liability of Securities Intermediary.

 

(a)            This
Agreement shall not subject the Securities Intermediary to any duty, obligation or liability except as is expressly set forth herein.
In particular (without implied limitation), the Securities Intermediary need not investigate whether the Secured Party is entitled under
the Basic Documents, or otherwise, to give any entitlement order or any other directions, instructions or other orders in any instance.

 

(b)            The
Securities Intermediary shall be protected in acting or refraining from acting upon any written notice, certificate, instruction, request
or other paper or document, as to the due execution thereof and the validity and effectiveness of the provisions thereof and as to the
truth of any information therein contained, which the Securities Intermediary in good faith believes to be genuine.

 

(c)            The
Securities Intermediary may consult with and obtain advice from counsel, accountants or other experts of its own choice in the event
of any dispute or question as to the construction of any provision hereof or otherwise in connection with its duties hereunder, and any
action taken or omitted by the Securities Intermediary in reasonable reliance upon such advice shall be full justification and protection
to it. The Securities Intermediary shall not be liable for any error of judgment or for any act done or step taken or omitted except
in the case of its willful misconduct, bad faith or negligence.

 

(d)            The
Securities Intermediary shall have no duties hereunder except those which are expressly set forth herein and in any modification or amendment
hereof. For the avoidance of doubt, nothing herein shall impose or imply on the part of the Securities Intermediary any duties of a fiduciary
nature.

 

(e)            The
Securities Intermediary may engage or be interested in any financial or other transactions with any party hereto and may act on, or as
depositary, trustee or agent for, any committee or body of holders of obligations of such Persons as freely as if it were not the Securities
Intermediary hereunder.

 

(f)            The
Securities Intermediary shall not be obligated to take any action which in its reasonable judgment would cause it to incur any expense
or liability not otherwise contemplated hereunder unless it has been furnished with an indemnity with respect thereto which is reasonably
satisfactory to the Securities Intermediary.

 

HAROT 2022-2

Securities Account Control Agreement

 

    -7- 

     

    

 

(g)            The
Securities Intermediary may rely upon the contents of any notice, consent, instruction or other communication or document from the Indenture
Trustee, for the benefit of the Secured Parties, the Issuer or the Servicer that the Securities Intermediary believes in good faith to
be genuine and from the proper Person, without any further duty of inquiry or independent investigation on its part.

 

(h)            The
Securities Intermediary shall not be deemed to have notice or knowledge of any Event of Default or any other default under any other
Basic Document unless an Authorized Officer of the Securities Intermediary has actual knowledge or Securities Intermediary shall have
received written notice thereof. In the absence of such actual knowledge or receipt of such notice, the Securities Intermediary may conclusively
assume that none of such events have occurred and the Securities Intermediary shall not have any obligation or duty to determine whether
any Event of Default or any other default under any other Basic Document has occurred or is continuing.

 

(i)            No
provision of this Agreement or any other Basic Document shall be construed to require the Securities Intermediary to perform, supervise,
monitor or accept any responsibility for the performance of, the obligations of the Issuer hereunder or under any other Basic Document
or any Person other than itself under any Basic Document.

 

(j)            The
Securities Intermediary shall not be liable for any delays in performance for causes beyond its reasonable control, including acts of
declared or undeclared war (including acts of terrorism), public disorder, rebellion, sabotage, fire, flood, epidemic, pandemic, landslide,
lightning, fire, hurricane, earthquake, flood, strike, restriction by civil or military authority in their sovereign or contractual capacities,
transportation failure, loss or malfunctions of communications or computer (software and hardware) services, power line or other utility
failures or interruptions, or inability to obtain labor.

 

(k)            In
no event shall the Securities Intermediary be liable for any special, indirect, punitive or consequential damages (including lost profits).

 

Section 5.14     Limitation
of Liability of Owner Trustee. Notwithstanding anything contained herein to the contrary, this Agreement has been executed by The
Bank of New York Mellon, not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall
The Bank of New York Mellon, in its individual capacity or, except as expressly provided in the Trust Agreement, The Bank of New York
Mellon as Owner Trustee of the Issuer have any liability for the representations, warranties, covenants, agreements or other obligations
of the Issuer hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall
be had solely to the assets of the Issuer. For all purposes of this Agreement, in the performance of its duties or obligations hereunder
or in the performance of any duties or obligations of the Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the
benefits of, the terms and provisions of Articles VI, VII and VIII of the Trust Agreement as if specifically set forth herein.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

 

 HAROT 2022-2

Securities Account Control Agreement

 

    -8- 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective officers thereunto
duly authorized, all as of the day and year first above written.

 

	 	HONDA AUTO RECEIVABLES 2022-2 OWNER
    TRUST,  as Issuer
	 	 
	 	By: THE BANK OF NEW YORK MELLON, not
    in its individual capacity but solely as Owner Trustee 
	 	 
	 	By:	/s/ Leslie Morales
	 	Name:	Leslie Morales
	 	Title:	Vice President        
	 	 
	 	U.S. BANK TRUST COMPANY, NATIONAL
    ASSOCIATION,
	 	not in its individual capacity but solely as Indenture
    Trustee, as Secured Party
	 	 
	 	By:	/s/ Mirtza J. Escobar
	 	Name:	Mirtza J. Escobar
	 	Title:	Vice President
	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,
    as Securities Intermediary
	 	 
	 	By:	/s/ Mirtza J. Escobar
	 	Name:	Mirtza J. Escobar
	 	Title:	Vice President

 

    	 	S-1	HAROT 2022-2
 Securities Account Control Agreementastra_ex101.htm

EXHIBIT 10.1
  
 COMMON STOCK PURCHASE AGREEMENT
  
 THIS COMMON STOCK PURCHASE AGREEMENT, (the “Agreement”) made this 8th day of August, 2022 (the “Effective Date”), by and among Astra Energy, Inc., a Nevada corporation, (“Buyer”), and Alpha Ventures, LLC (“Seller”).  The Buyer and Seller shall collectively be referred to hereafter as the “Parties” and individually as a “Party” unless referred to specifically as the Buyer or the Seller.  The common stock owned by Seller to be sold to Buyer was issued by Regreen Technologies, Inc., a California corporation (“Company”), to the Seller.
  
 RECITALS
  
 Seller owns 8,500,000 outstanding and issued shares of common stock of the Company, which are free and clear of any liens, encumbrances, security interests, charges, mortgages, pledges, and any other adverse claims or other restrictions that would prevent the transfer of clear title of the Seller’s 8,500,000 outstanding and issued shares of common stock of the Company to Buyer.  As a director of the Company, Seller states the Company is not involved in any legal proceedings except as disclosed: Company has an action against Andrew “Quang” Nguyen for misappropriating of proprietary information and material.  The Company is validly incorporated and operating as a privately owned California corporation in good standing with the California Secretary of State and in compliance with all of its registration and filing requirements.
  
 There are no legal actions and/or proceedings and/or lawsuits pending against Seller that may materially affect this Agreement.
  
 Buyer has authorized shares of common stock to issue of 100,000,000 of which 45,549,540 shares of common stock were issued as of August 5, 2022.
  
 Buyer is validly incorporated and is in good standing with the Nevada Secretary of State and in compliance with all of its registration and filing requirements. Buyer is a fully-reporting company with the SEC.
  
 Seller desires to sell to Buyer and Buyer desires to purchase from Seller all of Seller’s interest in the Company, which is referred to herein as issued and outstanding shares of common stock in the Company under the terms and conditions of this Agreement.
  
 Under the terms of this Agreement, Seller will convey and deliver Seller’s 8,500,000 shares of common stock of the Company to the Buyer; and Buyer will pay Seller $400,000.00 in cash and 1,300,000 shares of Buyer’s common stock (from Buyer’s unissued and not outstanding shares of common stock) as consideration for the purchase of Seller’s 8,500,000 shares in the common stock of the Company.  Seller agrees to transfer the Seller’s 8,500,000 shares in the common stock of the Company to Buyer.
  
 These Recitals are incorporated by reference into this Agreement.
  
  
 	 
	
	

	 

 
 
  
 
 NOW, THEREFORE, in consideration of the mutual promises, covenants, representations, and good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), contained herein, and subject to the terms and conditions hereof, the Parties agree to be legally bound to this Agreement as follows: 
   
  
 	 1.  
	 Agreement to Purchase and Sell.  

 
 
  
 
  
 	  
	 a.  
	 The Seller will sell to Buyer, and the Buyer agrees to purchase from the Seller, the Seller’s 8,500,000 shares in the common stock of the Company, which are the Seller’s outstanding and issued shares of common stock of the Company for the amount of forty thousand U.S. dollars ($400,000.00) and 1,300,000 shares of Buyer’s common stock (from Buyer’s unissued and not outstanding shares of common stock).  This consideration that Buyer will pay Seller for his Company’s common stock is referred to hereafter as the “Purchase Price”, including all of the Seller’s rights, title, and interest in and to the 8,500,000 shares in the common stock of the Company that Seller owns.  Upon closing of this transaction, Seller shall have no further rights, or interest, in the Company other than what is expressly stated herein.  Seller shall receive no further payments, compensation, or other benefits from the Company.  Seller shall transfer title to his 8,500,000 shares in the outstanding and issued shares of common stock of the Company to Buyer on the Closing Date. The Closing Date for this Agreement is August 31, 2022.  

	  
	    
	    

	  
	 b.  
	 Seller shall forgive and waive all rights to payment of any and all other debts payable by Company to Seller.  

	  
	    
	    

	  
	 c.  
	 Buyer shall pay for all of the costs related to the completion of this Agreement and any related documents that need to be complete to complete this Agreement.  

	  
	  
	  

	  
	 d.  
	 The Company and its shareholders (which own more than 10% of the Company) have the right of first refusal to purchase the 1,300,000 outstanding and issued shares of common stock of the Company owned by Seller at the same price and on the same terms and conditions as set forth in this Agreement.  

 
 
  
 
  
 	 2.  
	 Payment Terms Based on Milestone Achievements.  On the Closing Date, the Buyer shall pay the Seller 1,000,000 shares in Buyer’s common stock.  The Escrow Agent, if any, will then make the cash and/or common stock shares of Buyer paid into Escrow, if any, (as determined by this Agreement) available to Seller only after Buyer submits a written instruction to the Escrow Agent, if any, to pay Buyer for the achievement of the following milestones at Exhibit A (Buyer shall submit the written instruction to Escrow no later than five business days after the achievement of each of the milestones as set forth in Exhibit A).      

 
 
  
  
  
 	 
	2
	

	 

 
 
  
 
  
 	 3.  
	 Representations and Warranties of Buyer.  Buyer represents and warrants to and covenants with Seller as of the Effective Date the following:  

 
 
  
 
  
 	  
	 a.
	 Buyer has the legal capacity to execute, deliver and perform this Agreement and any instruments or agreements required to be executed and delivered by him under this Agreement.

	  
	  
	  

	  
	 b.  
	 The execution, delivery or performance of this Agreement by Buyer and the consummation of this Agreement will not conflict with or will not violate any law applicable to Buyer or will not conflict with or result in any breach of or constitute a default (and any event that would result in a default) or give to others any right of termination, acceleration, or cancellation of any agreement to which Buyer is a party.  

	  
	  
	  

	  
	 c.  
	 No statement by Buyer contained in this Agreement or in any document delivered by Buyer under this Agreement contains any untrue statement of a material fact or omits or will omit to state any material fact necessary to make the statements contained herein not misleading or is necessary to provide the information required to be provided herein fully and fairly.  Buyer acknowledges he has received all documents he has required to conduct his due diligence herein and no other document relevant to Buyer’s due diligence is pending.  

	  
	  
	  

	  
	 d.  
	 Buyer understands and acknowledges that the Company’s shares of common stock and their transfer under this Agreement have not been registered with the Securities Act of 1933 as amended or the California Corporate Securities Law by reason of specific exemptions therefrom.  Buyer acknowledges there is no public market for the Company’s shares of common stock; and, Buyer cannot transfer these shares of common stock unless this transfer is permitted as an exemption to the foregoing statutes.  

 
 
  
 
  
 	 4.  
	 Representations and Warranties of Seller.  Seller represents and warrants to and covenants with Seller as of the Effective Date the following:  

 
 
  
 
  
 	  
	 a.
	 Seller has the legal capacity to execute, deliver and perform this Agreement and any instruments or agreements required to be executed and delivered by him under this Agreement.

	  
	  
	  

	  
	 b.  
	 The execution, delivery or performance of this Agreement by Seller and the consummation of this Agreement will not conflict with or will not violate any law applicable to Seller or will not conflict with or result in any breach of or constitute a default (and any event that would result in a default) or give to others any right of termination, acceleration, or cancellation of any agreement to which Seller is a party.  

	  
	    
	    

	  
	 c.  
	 No statement by Seller contained in this Agreement or in any document delivered by Seller under this Agreement contains any untrue statement of a material fact or omits or will omit to state any material fact necessary to make the statements contained herein not misleading or is necessary to provide the information required to be provided herein fully and fairly.  Seller acknowledges he has received all documents he has required to conduct his due diligence herein and no other document relevant to Seller’s due diligence is pending.  

	  
	  
	  

	  
	 d.  
	 Seller understands and acknowledges that the Company’s shares of common stock and their transfer under this Agreement have not been registered with the Securities Act of 1933 as amended or the California Corporate Securities Law by reason of specific exemptions therefrom.    

	  
	  
	  

	  
	 e.  
	 Seller is the sole beneficial and record owner of the 8,500,000 shares of common stock of the Company’s outstanding and issued shares of common stock.  There are no other persons or entities with legal or equitable title to the Seller’s shares of common stock that are sold to Buyer in this Agreement.  

 
 
  
 
  
 	 
	3
	

	 

 
 
  
   
  
 	 5.
  
	 Governing Law; Jurisdiction.  Any dispute, disagreement, conflict of interpretation or claim arising out of or relating to this Agreement, or its enforcement, shall be governed by the laws of the State of California.
  

	 6.
  
	 Successors and Assigns.  The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the Parties, except that Company may not assign or transfer any of its rights or obligations under this Agreement.
  

	 7.
  
	 Counterparts.  This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement.  A telefaxed copy or PDF Formatted copy of this Agreement shall be deemed an original.
  

	 8.
  
	 Headings.  The headings used in this Agreement are for convenience of reference only and shall not be deemed to limit, characterize or in any way affect the interpretation of any provision.
  

	 9.
  
	 Legal Fees, Costs, Expenses.  Each Party hereto shall bear its own costs in connection with the preparation, execution and delivery of this Agreement, including legal, accounting, and any other professional fees and expenses.
  

	 10.
  
	 Amendments, Modifications and Waivers.  No amendment, change, modification or waiver of any provision of this Agreement shall be valid or binding unless it is in writing, dated subsequent to the Effective Date of this Agreement, and signed by both the Buyer and the Seller.  No waiver of any breach, term, condition or remedy of this Agreement by any Party shall constitute a subsequent waiver of the same or any other breach, term, condition or remedy.  All remedies, either under this agreement, by law, or otherwise afforded the Parties shall be cumulative and not alternative.
  

	 11.
  
	 Severability.  If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision(s) shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision(s) were so excluded and shall be enforceable in accordance with its terms.
  

 
 
  
     
  
 	 
	4
	

	 

 
 
  
 
  
 	 12.
  
	 Entire Agreement.  This Agreement constitutes the entire agreement and understanding of the Parties with respect to the subject matter hereof and supersedes any and all prior negotiations, correspondence, agreements, understandings duties or obligations between the Parties with respect to the subject matter hereof.
  

	 13.
  
	 Further Assurances.  From and after the date of this Agreement, upon the request of the Buyer or the Seller, the Buyer and the Seller shall execute and deliver such instruments, documents or other writings as may be reasonably necessary or desirable to confirm and carry out and to effectuate fully the intent and purposes of this Agreement.
  

	 14.
  
	 Term, Survival.  This Agreement is effective from the Effective Date hereof and shall remain in effect until all the rights and obligations of the Parties hereto have been fully performed.
  

	 15.
  
	 Assignment.  Neither Party may assign this Agreement or its rights or duties hereunder without the other Party’s prior written consent.  Notwithstanding the foregoing, this Agreement shall be binding upon and inure to the benefit of the Parties, their respective heirs, legal representatives, successors, and assigns.
  

	 16.
  
	 Confidentiality.  Except for disclosure to the Parties’ legal counsel, accountants, or financial advisers, the Parties shall not disclose the terms of this Agreement to any person who is not a Party to this Agreement unless disclosure is required by law, authorized by this Agreement, or consented to by both Parties in writing and signed by each Party.
  

	 17.
  
	 Attorneys' Fees.  In the event a Party is required to retain the services of an attorney to enforce or interpret any of the provisions of this Agreement, the prevailing Party shall be entitled to recover his attorneys' fees, expenses and costs of suit actually incurred.
  

	 18.
  
	 Waiver.  No delay or failure to require performance of any provision of this Agreement shall constitute a waiver of that provision as to that or any other instance.  Any waiver granted by a Party must be in writing to be effective and shall apply solely to the specific instance expressly stated.
  

	 19.
  
	 Confidential.  This Agreement and its terms shall remain confidential and private between the Parties and shall not be disclosed except to comply with any applicable law and/or court order that requires disclosure of this Agreement and/or its terms.
  

 
 
  
   
  
 	 
	5
	

	 

 
 
  
 
 IN WITNESS WHEREOF, each of the Parties hereto have executed this Agreement as of the date first written above.
  
  
 	 BUYER
	  

	 Astra Energy, Inc.
	  

	  
	  

	 /s/ Kermit Harris
	  

	 By: Kermit Harris, President and Director
	  

	 Executed on August 17, 2022
	  

	  
	  

	 SELLER
	  

	 Alpha Ventures, LLC
	  

	  
	  

	 /s/ Tony Moroyan
	  

	 By: Tony Moroyan, President and Director 
	  

	 Executed on August 17, 2022 
	  

 
 
  
 
  
 	 
	6
	

	 

 
 
  
      
 EXHIBIT A – MILESTONES AND PAYMENT SCHEDULE
  
  
 	 A.
	 On Closing Buyer shall issue and deliver 1,000,000 shares of Buyer’s common stock to Seller. It is agreed that Seller will be restricted from selling or transferring these shares for a period of 12 months from Closing.

	  
	  

	 B.
	 On Closing Buyer shall issue 300,000 shares of Buyer’s common stock in the name of Seller. These shares will be held in escrow by Ali Parveneh and delivered to Seller upon completion of the installation and full operation of a Regreen System at Advanced Waste Disposal in Hesperia, California. It is agreed that Seller will be restricted from selling or transferring these shares for a period of 12 months from Closing.

	  
	  

	 C.
	 On Closing Seller shall pay to Seller the sum of $50,000.

	  
	  

	 D.
	 On Closing Buyer shall transfer voting control of Buyer’s shares to Seller.

	  
	  

	 E.
	 Upon completion of the installation and full operation of a Regreen System at Advanced Waste Disposal in Hesperia, California, Buyer shall pay to Seller the sum of $50,000.

	  
	  

	 F.
	 On March 15, 2023, Buyer shall pay to Seller the sum of $150,000.

	  
	  

	 G.
	 On December 15, 2023, Buyer shall pay to Seller the sum of $150,000.

 
 
  
  
  
 	 
	7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}]]