Document:

Exhibit 10.1

 

Final Execution

 

BUSINESS LOAN AGREEMENT

 

	Borrower:	
    HALL OF FAME RESORT &

 ENTERTAINMENT COMPANY

    2626 Fulton Drive NW

    Canton, OH 44718
	Lender:       	
    STARK COUNTY PORT AUTHORITY

    400 3rd Street SE, Suite 310

    Canton, Ohio 44702

     

 

THIS BUSINESS LOAN AGREEMENT (“Agreement”),
dated August 31, 2022, is made and executed between HALL OF FAME RESORT & ENTERTAINMENT COMPANY, a Delaware corporation (“Borrower”),
and the STARK COUNTY PORT AUTHORITY (“Lender”), a body corporate and politic and a port authority duly organized and
validly existing under the laws of the State of Ohio (the “State”) on the following terms and conditions. Borrower
understands and agrees that in granting, renewing, or extending any Loan, Lender is relying upon the representations, warranties, and
agreements set forth In this Agreement and the Term Loan Note (described below); and all shall be and remain subject to the terms and
conditions of this Agreement. All capitalized terms used in this Agreement shall have the meaning provided below in the definition section
of this Agreement, unless otherwise indicated in the body of this Agreement.

 

LOAN FACILITIES. This Agreement shall apply
to a term loan in the original principal amount of $5,000,000.00 (the “Term Loan”) as evidenced by a Promissory Note
(“Term Loan Note”) executed on August 29, 2022.

 

TERM OF AGREEMENT. This Agreement shall
be effective as of August 31, 2022 and shall continue in full force and effect until such time as the Term Loan in favor of Lender has
been paid in full, including principal, interest, costs, expenses, reasonable attorneys’ fees, and other fees and charges associated
therewith (the “Term of Agreement”).

 

TERM OF TERM LOAN. In the absence of an
Event of Default, the Term Loan shall mature and shall be due and payable in full August 30, 2029 (the “Maturity Date”).

 

USE OF LOAN PROCEEDS. The proceeds of the
Loan set forth in this Agreement shall be used by Borrower for the sole purpose of funding (i) the infrastructure development for Phase
II of Borrower’s development plan including but not limited to an on campus hotel, an indoor waterpark, the Constellation Center
for Excellence, the Center for Performance, the Play Action Plaza and the Fan Engagement Zone (i.e. a retail promenade), and (ii) to any
costs or fees in connection with the Term Loan (collectively, “Phase II”). For purposes of this Agreement, “Infrastructure”
will be defined as the design and installation of electric, water, stormwater and sanitary sewer lines and related improvements required
for construction of Phase II and located on the parcels described on Exhibit A, which is attached hereto and made a part hereof. The Lender
acknowledges that in addition to payment for new construction of Infrastructure, the proceeds of the Term Loan may be used for funding
ongoing Phase II Infrastructure and/or for reimbursement for such work that has already been completed and previously funded by Borrower
through equity. Notwithstanding the foregoing, such Term Loan proceeds shall not be used to retire or satisfy any pre-existing loan to
Borrower or any Affiliate thereof.

 

    1

     

    

 

INTEREST. The interest rate applicable
to the Term Loan shall be six percent (6.0%) per annum (compounded quarterly). Upon an Event of Default, the interest rate applicable
to the outstanding amount of the Term Loan shall equal the interest rate that would otherwise be in effect pursuant to the provisions
of the Term Loan Note, plus five percent (5%) per annum. All computations of interest on Indebtedness shall be computed on a 365/360 basis;
that is, in the case of interest, by applying the ratio of the interest rate over a year of 360 days, multiplied by the outstanding principal
balance, multiplied by the actual number of days the principal balance is outstanding. Any reference in this Agreement to a “per
annum” rate shall be based on a year of 360 days. Interest shall accrue on Loan from the day on which the Loan is made.

 

REPAYMENT OBLIGATIONS. The following repayment
obligations shall apply to the Term Loan:

 

		(A)	Term Loan: Interest payments under the Term Loan shall
be paid quarterly beginning on December 31, 2022, with all subsequent interest payments to be due on the last day of each calendar month
of March, June, September and December of each year thereafter. On the Maturity Date, the Term Loan shall mature and payment shall be
due in the amount required to fully satisfy the entire outstanding principal balance of the Loan, all accrued interest, and all other
amounts that may be due and owing to Lender under this Agreement and the Term Loan Note and the Loan Documents.

 

		(B)	Prior to an Event of Default under this Agreement, payments
shall be applied first to interest, then to principal, then to any fees or other amounts due and owing to Lender in connection with the
Indebtedness. After an Event of Default under this Agreement, unless required by applicable law, payments shall be applied by Lender
in such order as it elects in its sole discretion.

 

FEES. The Borrower shall pay Lender all
reasonable costs and expenses incurred by Lender in preparation, review and negotiation of the Loan Documents, including Lender’s
outside counsel attorney fees payable at closing.

 

CONDITIONS PRECEDENT TO TERM LOAN. Lender’s
obligation to make the Term Loan under this Agreement shall be subject to, and contingent upon, the fulfillment to Lender’s reasonable
satisfaction (unless a different standard is indicated below) of all of the conditions set forth In this Agreement (the “Closing
Date”), including, but not limited to the following:

 

Loan Documents. Borrower shall
have executed and delivered to Lender the following documents for the Term Loan: (1) the Term Loan Note; (2) this Agreement; and (3) all
other documents as Lender may reasonably require; all in form and substance reasonably satisfactory to Lender and Lender’s counsel.

 

    2

     

    

 

Borrower’s Authorization.
Borrower shall have provided in form and substance satisfactory to Lender properly certified resolutions, duly authorizing the execution
and delivery of this Agreement and the Term Loan Note.

 

Miscellaneous Borrower Certificates.
Lender shall have received certificates, in form and substance satisfactory to it, from a knowledgeable Senior Officer of Borrower certifying
that, after giving effect to the Loan hereunder, (i) Borrower is Solvent; (ii) no Default or Event of Default exists; and (iii) the representations
and warranties set forth in this Agreement are true and correct.

 

Borrower Secretary’s Certificate. Lender shall have received a certificate of a duly authorized officer of Borrower, certifying, among other things, (i) that attached
copies of such Borrower’s Organic Documents are true and complete, and in full force and effect, without amendment except as shown;
(ii) that an attached copy of resolutions authorizing execution and delivery of the Loan Documents is true and complete, and that such
resolutions are in full force and effect, were duly adopted, have not been amended, modified or revoked, and constitute all resolutions
adopted with respect to this credit facility; and (iii) to the title, name and signature of each Person authorized to sign the Loan Documents.
Lender may conclusively rely on this certificate until it is otherwise notified by Borrower in writing.

 

Certificates from Secretary(ies)
of State/Other Governmental Official(s). Lender shall have received copies of the charter documents of Borrower, certified by the
Secretary of State or other appropriate official of Borrower’s jurisdiction of organization. Lender shall have received good standing
certificates for Borrower, issued by the Secretary of State or other appropriate official of Borrower’s jurisdiction of organization
and each jurisdiction where Borrower’s conduct of business or ownership of Property necessitates qualification.

 

Representations and Warranties. 
The representations and warranties set forth in this Agreement, and in the Term Loan Note, or any of the other Loan Documents, if any,
and in any document or certificate delivered by Borrower to Lender under this Agreement or in connection with any Loan, are true, accurate
and complete in all material respects as of the date hereof.

 

Compliance with Affirmative and Negative
Covenants. Borrower has complied in all material respects with all negative and affirmative covenants set forth in this Agreement
and the Loan Documents, as determined by Lender in its reasonable discretion.

 

    3

     

    

 

Due Diligence. Borrower shall
have provided to Lender a source of funds and such other financial information, financial statements and other information and documentation
reasonably requested by Lender in connection with Phase II Infrastructure, and Lender shall have completed all of the due diligence investigations,
reviews, and analysis required by Lender prior to the disbursement of the Term Loan proceeds, and such due diligence shall be satisfactory
to Lender. The financial condition, operating status, and general business prospects of Borrower shall be satisfactory to Lender.

 

No Adverse Change. No material
adverse change has occurred, or is threatened to occur, with respect to Borrower in connection with the businesses, operations, customer
base, prospects, or any financial or other condition, which would have a material adverse effect on Borrower, as determined by Lender
in its reasonable discretion.

 

No Event of Default. There shall
not exist as of the Closing Date a condition which would constitute or lead to an Event of Default under this Agreement or under any Loan
Document.

 

Change in Law. No change has
occurred in any applicable law, rule, regulation, or requirement restricting Lender’s ability to extend credit to Borrower in accordance
with the terms set forth in the Loan Documents.

 

Fees. Borrower shall have paid
all fees and expenses to be paid to Lender on the Closing Date.

 

REPRESENTATIONS AND WARRANTIES.  Borrower
hereby represents and warrants to Lender, as of the date of this Agreement and as of the date of any renewal, extension, or modification
of any loan and at all times any Indebtedness exists:

 

Authority. Borrower has full
power, authority and legal right to enter into this Agreement and the Loan Documents, and to perform its obligations hereunder and thereunder.
This Agreement and the Loan Documents have been duly executed and delivered by Borrower, and this Agreement and the Loan Documents constitute
the legal, valid and binding obligation of Borrower enforceable in accordance with their terms, except as such enforceability may be limited
by any applicable bankruptcy, insolvency, moratorium or similar laws affecting creditors’ rights generally. The execution, delivery
and performance of this Agreement and the Loan Documents (a) are within Borrower’s powers, have been duly authorized by all necessary
corporate action, are not in contravention of law or the terms of Borrower’s organizational documents or other applicable documents
relating to Borrower’s formation or to the conduct of Borrower’s business or of any material agreement, other than prior agreements
with Lender that are superseded hereby or undertaking to which it is a party or by which it is bound, (b) will not conflict with or violate
in any material respect any law or regulation, or any judgment, order or decree of any governmental body, (c) will not require the consent
of any governmental body or any other person, (d) will not conflict with, nor result in any breach in any of the provisions of or constitute
a default under or result in the creation of any lien upon any asset of such Borrower under the provisions of any agreement, charter document,
instrument, organizational documents, or other instrument to which such Borrower is a party or by which it or its property is a party
or by which it may be bound, other than prior agreements with Lender.

 

    4

     

    

 

Organization. Borrower is a Delaware
corporation which is, and at all times shall be, duly organized, validly existing, and in good standing under and by virtue of the laws
of the State of Delaware and any other state in which it is registered or authorized to do business. Borrower is duly authorized to transact
business in all other states in which Borrower is doing business, having obtained all necessary filings, governmental licenses and approvals
for each state in which Borrower is doing business. Borrower maintains its principal office at 2626 Fulton Drive NW, Canton, OH 44718.
Unless Borrower has designated otherwise in writing, the principal office is the office at which Borrower keeps its books and records
including their records concerning the collateral, if any. Borrower will notify Lender in writing prior to any change in the location
of Borrower’s state of organization or any change In Borrower’s name or address of its principal office.

 

Assumed Business Names.  Borrower
has filed or recorded all documents or filings required by law relating to all assumed business names used by Borrower. Excluding the
name of Borrower, the following is a complete list of all assumed business names under which Borrower does business: None.

 

Financial Disclosures. Borrower’s
financial statements supplied to Lender truly and completely disclose Borrower’s financial condition as of the statement and there
has been no material adverse change in Borrower’s financial condition subsequent to the date of the most recent financial statements
supplied to Lender. Borrower has no material contingent obligations except as disclosed in such financial statements or as otherwise disclosed
to Lender in writing.

 

Taxes and Governmental Obligations.
Borrower is not in violation of any applicable statute, law, rule, regulation or ordinance, court, governmental body or arbitration board
or tribunal in any respect which could reasonably be expected to have a material adverse effect on a Borrower or its ability to perform
as required in this Agreement or any other Loan Documents. Borrower has filed all federal, state, and local tax returns, together with
all other reports which it is required by law to file. Borrower has paid all taxes, assessments, and other similar charges that are due
and payable, except for any taxes, assessments, are charges which are being contested in good faith and for which adequate reserves have
been provided for. Borrower has withheld all employee and similar taxes which it is required by law to withhold and has maintained adequate
reserves for the payment of all taxes and similar charges. No tax liens have been filed with respect to Borrower, and to the knowledge
of Borrower, no claims are being asserted with respect to any such taxes, assessments, or charges (and no basis exists for any such claims).

 

    5

     

    

 

Licenses and Permits. Borrower
(a) is in compliance in all material respects with and (b) has procured and is now in possession of, all material licenses or permits
required by any applicable federal, state or local law, rule or regulation for the operation of its business in each jurisdiction wherein
it is now conducting or proposes to conduct business.

 

No Default. Except as otherwise
disclosed by Borrower to Lender as of the date of this Agreement, Borrower is not in default in the payment or performance of any of its
obligations under any contract or agreement of any kind or nature (including financing obligations) that, either individually or in the
aggregate, could reasonably be expected to have a Material Adverse Effect (hereinafter defined), and no event has occurred under the provisions
of any applicable contract or agreement of any kind or nature (including financing obligations) which with or without the lapse of time
or the giving of notice, or both, constitutes or would constitute an event of default thereunder. “Material Adverse Effect”
means (a) a material adverse change in, or a material adverse effect upon, the operations, business, properties, liabilities (actual or
contingent), condition (financial or otherwise) or prospects of the Borrower or its Affiliates or Subsidiaries taken as a whole or (b)
a material adverse effect on (i) the ability of Borrower, Affiliates or Subsidiaries to perform their respective obligations under any
contract or agreement of any kind or nature (including financing obligations) to which it is a party, (ii) the legality, validity, binding
effect or enforceability against Borrower or its Affiliates or Subsidiaries under the provisions of any applicable contract or agreement
of any kind or nature (including financing obligations) to which it is a party, (iii) the rights, remedies and benefits available to a
lender under the provisions of any applicable contract or agreement of any kind or nature (including financing obligations) to which Borrower
or its Affiliates or Subsidiaries is a party , or (iv) the value of any collateral or any lenders’ lien on any collateral or the
priority of such lenders’ liens.

 

No
Litigation or Liens. Except as otherwise disclosed by Borrower to Lender in writing, neither Borrower nor any of its Affiliates or
Subsidiaries is involved in any pending or threatened litigation, arbitration, action or proceeding which may have a material adverse
effect on its financial condition, its ability to perform as required under this Agreement or the Loan Documents, or to complete the Infrastructure
or other improvements related to Phase II. No event has occurred which, to the best of Borrower’s
knowledge, could result in any violation of the representations and warranties set forth in this paragraph. Borrower has duly complied
with, and its facilities, business, assets, property, leaseholds, real property and equipment, are in compliance in all material respects
with, the provisions of the Federal Occupational Safety and Health Act; there have been no outstanding citations, notices or orders of
non-compliance issued to Borrower or relating to Its business, assets, property, leaseholds or equipment under any such laws, rules or
regulations. Borrower is not involved in any labor dispute; there are no strikes, walkouts or union organization of any of Borrower’s
employees threatened or to Borrower’s knowledge in existence. Neither Borrower (or its Affiliates or Subsidiaries), nor any of Borrower’s
(or its Affiliates’ or Subsidiaries’) properties or assets are subject to any mechanic’s, laborer’s or materialmen’s
liens resulting from delinquent or unpaid amounts related to any portion of Phase I of Borrower’s construction and development work
at the Hall of Fame Village and/or with respect to any part of Phase II thereof.

 

    6

     

    

 

Plan Contributions. Except for
Borrower’s 401(k) plan for employees in the ordinary course of Borrower’s business, Borrower does not maintain or contribute
to any employee related benefit plan.

 

Solvency. After giving effect
to the within loan transaction, Borrower will be Solvent.

 

Compliance With Law. Borrower
is in compliance and conformity, in all material respects, with all laws (including without limitation all applicable foreign, federal,
state and local laws, including environmental laws, safety laws, pension laws and employment or labor laws), ordinances, rules, regulations
and all other legal requirements. Borrower has not received any notice or order of any violation or claim of violation of any such law,
ordinance, rule, regulation, or requirement from any governmental authority.

 

Environmental Matters. Borrower
represents and warrants that to Borrower’s knowledge, Borrower’s operations and the properties which it owns, leases, and
operates are and have always been in compliance, in all material respects, with all laws and orders relating to any hazardous or dangerous
waste or substance, any pollutants, or any waste disposal. No proceeding is pending or threatened against or affecting Borrower with respect
to any such environmental matters.

 

Full Disclosure. No representation
or warranty made by Borrower in any Loan Documents contains any untrue statement of a material fact or omits a material fact necessary
to make the statements contained herein or therein not misleading. There is no fact which Borrower has not disclosed to Lender which has
or will have a material adverse effect on the financial condition or assets of Borrower.

 

Completeness and Survival of Representations
and Warranties. The representations, warranties, and all covenants contained in this Agreement shall be of a continuing nature and
survive the closing of the transactions contemplated by the Loan Documents and termination of this Agreement. No warranty or representation
made herein, and no statement contained in any document, instrument, schedule or exhibit otherwise delivered to Lender in connection with
the Term Loan contains, or will contain, any untrue statement of any material fact or omits, or will omit, to state a material fact necessary
to make the statements contained herein or therein, in the light of the circumstances in which they are made, not misleading.

 

    7

     

    

 

Insurance. At all times until
all principal and interest owed under the Term Loan is paid in full, Borrower shall maintain, with financially sound and reputable insurers,
general commercial liability insurance in an amount that is not less than Two Million Dollars ($2,000,000.00) per occurrence and Five
Million Dollars ($5,000,000.00) in the aggregate. Borrower will pay promptly when due any premiums on such insurance. Such policies of
insurance shall have loss-payable clauses in favor of and in form reasonably acceptable to Lender, and Borrower shall within 5 business
days of Closing of the Loan deliver to Lender a certificate of insurance verifying Borrower’s compliance with the terms of this
Agreement and adding Lender as an additional insured party thereon. Not less than fifteen (15) days before the expiration of any such
policies, Borrower will deliver to Lender new or renewal policies in like amounts covering the same risks. The policies shall provide
that no cancellation shall occur without thirty (30) days prior written notice to Lender. In addition to the foregoing, Borrower shall
at all times maintain workers compensation insurance in amounts required by each state in which Borrower is conducting its business, including
but not limited to Ohio.

 

Preservation and Maintenance of Borrower’s
Property and Improvements. Borrower, its Affiliates and its Subsidiaries (a) shall not commit waste or permit impairment or deterioration
of any of its property or improvements; (b) shall not abandon any of its properties or improvements; (c) shall restore or repair
promptly and in a good and workmanlike manner all or any part of the Infrastructure completed by Borrower to the substantially equivalent
of its original condition, or such other condition as Lender may approve in writing, in the event of any damage, injury or loss thereto,
whether or not insurance proceeds are available to cover in whole or in part the costs of such restoration or repair; (d) shall keep
the Infrastructure, including improvements, fixtures, equipment, machinery, and appliances, in good repair and shall replace improvements,
fixtures, equipment, machinery, and appliances when necessary to keep such items in good repair; (e) shall comply in all material
respects with all laws, ordinances, regulations, and requirements of any governmental body applicable to the Infrastructure and Borrower’s
construction thereof; and (f) shall give notice in writing to Lender, appear in and defend any action or proceeding purporting to
affect the Infrastructure or the rights and/or powers of Lender.

 

    8

     

    

 

AFFIRMATIVE COVENANTS. Borrower covenants
and agrees with Lender that, so long as this Agreement and any Loan Document remains in effect, Borrower will:

 

Notices of Claims and Litigation.
 Promptly inform Lender in writing of (1) all material adverse changes in Borrower’s financial condition, (2) all existing and
all threatened litigation, claims, investigations, administrative proceedings or similar actions affecting Borrower which could materially
affect the financial condition of Borrower, (3) any fact or occurrence that makes any of the representations and warranties inaccurate
or incomplete in any material respect and/or which causes, or could lead to, it being in default of the affirmative or negative covenants,
or any other term or condition, set forth in this Agreement or in the Loan Documents, (4) the occurrence of a default with respect to
any material indebtedness or obligation owed to another person, and (5) the failure to act on the part of Borrower when action is required,
which results in the breach of any covenants imposed upon Borrower by the Loan Documents, or which, with the giving of notice of passage
of time would result in a breach of such covenants, including, specifically, without limitation, the failure of Borrower to maintain any
of the covenants set forth in the Loan Documents.

 

Financial Records.  Permit Lender
to examine and audit Borrower’s books and records at all reasonable times upon reasonable advance notice to Borrower.

 

Financial Statements. Furnish
Lender with such financial statements and other related information at such frequencies and in such detail as set forth in this Agreement
and/or as Lender may reasonably request.

 

Taxes, Charges and Liens. Pay
and discharge when due all of its indebtedness and obligations, including without limitation all assessments, taxes, governmental charges,
levies and liens, of every kind and nature, imposed upon Borrower or its properties, income, or profits, prior to the date on which penalties
would attach, and all lawful claims that, if unpaid, might become a lien or charge upon any of Borrower’s assets, properties, income,
or profits. Provided however, Borrower will not be required to pay and discharge any such assessment, tax, charge, levy, lien or claim
so long as (1) the legality of the same shall be contested in good faith by appropriate proceedings, and (2) Borrower shall have established
on Borrower’s books adequate reserves with respect to such contested assessment, tax, charge, levy, lien, or claim in accordance
with GAAP.

 

    9

     

    

 

Performance. Perform and comply,
in a timely manner, with all terms, conditions, and provisions set forth in this Agreement, in the Loan Documents, and in all other instruments
and agreements between Borrower and Lender. Borrower shall notify Lender immediately in writing of any default in connection with any
agreement with Lender.

 

Compliance with Governmental Requirements.
 Comply in all material respects with all laws, ordinances, and regulations, now or hereafter in effect, of all governmental authorities
applicable to the conduct of Borrower’s assets, properties, businesses and operations, including without limitation, ERISA, environmental
laws and Americans with Disabilities Act. Borrower may contest in good faith any such law, ordinance, or regulation and withhold compliance
during any proceeding, including appropriate appeals, so long as Borrower has notified Lender in writing prior to doing so and so long
as, in Lender’s reasonable opinion, Lender’s interests are not jeopardized. Lender may require Borrower to post adequate security
or a surety bond, reasonably satisfactory to Lender, to protect Lender’s interest.

 

Existence As A Company. Borrower
shall remain a corporation validly existing and in good standing under the laws of the State of Delaware, and shall remain, or shall become,
as required, duly licensed or qualified to do business in all states wherein the failure to be so licensed or qualified would have a material
adverse effect upon Borrower.

 

Payment of Fees; Costs and Expenses.
Borrower shall reimburse Lender for any and all fees, costs, and expenses, including, without limitation, reasonable attorneys’
fees incurred or paid by Lender or any of its officers, employees, or agents in connection with: (a) the preparation, negotiation, procurement,
review, administration, or enforcement of the Loan Documents or any instrument, agreement, document, policy, consent, waiver, subordination,
release of lien, termination statement, satisfaction of mortgage, financing statement or other lien search, recording or filing related
thereto (or any amendment, modification or extension to, or any replacement or substitution for, any of the foregoing), whether or not
any particular portion of the transactions contemplated during such negotiations is ultimately consummated, and (b) the defense, preservation,
and protection of Lender’s rights and remedies thereunder, including without limitation, whether incurred in bankruptcy, insolvency,
foreclosure, or other litigation or proceedings or otherwise. The costs shall be due and payable upon demand by Lender. At the option
of Lender, Lender may withhold the same from the loan proceeds to be delivered to Borrower. If Borrower fails to pay the costs upon such
demand, Lender is entitled to disburse such sums as Indebtedness. Thereafter, the costs shall bear interest from the date incurred or
disbursed at the highest rate set forth in the Term Loan Note. This provision shall survive the termination of this Agreement and/or the
repayment of any amounts due or the performance of any Indebtedness.

 

    10

     

    

 

NEGATIVE COVENANTS. Borrower covenants
and agrees with Lender that while this Agreement is in effect, and until all amounts due and payable to Lender under the Loan Documents
have been satisfied in full, Borrower, and any Affiliate or Subsidiary of Borrower, shall not without the prior written consent of Lender:

 

Continuity of Operations.  (1)
Engage in any business activities substantially different than those in which Borrower or such Affiliate or Subsidiary is presently engaged
or plans to engage, without prior notice to Lender and approval by Lender, which approval shall not be unreasonably withheld; (2) merge,
transfer, acquire or consolidate with any other entity, change its name, dissolve or transfer or sell its assets out of the ordinary course
of business; (3) intentionally omitted; (4) purchase, sell, transfer, or retire a majority or controlling interest of its outstanding
units, issue additional units, or materially alter or amend its capital or equity structure, without prior written notice to Lender and
approval by Lender, which consent shall not be unreasonably withheld, conditioned or delayed; (5) amend, modify, or waive any material
term or material provisions of its Code of Regulations or By Laws, unless required by law without prior written notice and approval of
Lender, which approval shall not be unreasonably withheld, or (6) intentionally omitted.

 

Payments of Other Debt. Make
any payments of interest or re-payment of outstanding principal on any debt, liability, or obligation, including, without limitation,
any such debt, liability, or obligation to any of its Subsidiaries, Affiliates, or any related or affiliated party thereto, other than
the Permitted Debt (hereinafter defined).

 

No Debt. Create, suffer to exist,
or permit in any fashion, voluntarily or by operation of law, any debt obligation, including contingent obligations, or otherwise guarantee,
endorse, or become surety for or upon any obligations of others, other than: (i) debt to Lender as provided in this Agreement and the
Loan Documents, (ii) debt existing on the date of this Agreement (including any extensions, renewals, or refinancing thereof, but not
to the extent of any increase in the amount of any debt or obligation thereunder), (iii) debt entered into by Borrower or any of its Affiliates
or Subsidiaries in its ordinary course of business or in connection with development with any of its projects (including, but not limited
to, the development of the Hall of Fame Village), provided Borrower obtains Lender’s written consent prior to incurring any such
debt, which consent shall not be unreasonably withheld or delayed, (iv) trade payables and accrued expenses incurred in the ordinary course
of business which are not represented by a promissory note or other evidence of indebtedness, but not to its members, Subsidiaries, or
any Affiliates thereto, (v) the Foundation Loan (hereinafter defined), (vi) the City Loan (hereinafter defined) and (vii) debt which is
approved by Lender in writing prior to the creation of the debt obligations (which approval shall not be unreasonably withheld, or delayed)
(“Permitted Debt”).

 

    11

     

    

 

No Payment. Except for in connection
with the Permitted Debt, make any payment outside the ordinary course of business, or make any pre-payment, repurchase, or redemption,
in connection with any note or other debt or obligation.

 

No Pledge. Pledge, encumber,
transfer, or license of any interest in its assets, except as otherwise specifically herein permitted, in connection with any Permitted
Debt or in the ordinary course of its business, including without limitation a pledge, encumber, transfer, or license of its goodwill
or intellectual property, which includes, but is not limited to, trademarks, copyrights, patents, designs, inventions, creations, formulas,
and names.

 

Licenses and Permits. Allow any
license, permit or other right necessary to conduct its business in its ordinary course to lapse or be revoked, either voluntarily, for
failure to perform or otherwise comply with the requirements and conditions of said license, permit or other right, or by operation of
law.

 

Agreements. Borrower will not
enter into any agreement containing any provisions which would be violated or breached by the performance of the obligations under this
Agreement.

 

No Distributions. If an Event
of Default has occurred and is continuing beyond any applicable notice and/or cure period, Borrower will not make any distributions to
its shareholders, without Lender’s prior written consent, which consent shall not be unreasonably withheld, or delayed.

 

No Change of Business, Business Name
or Registration. Engage in any business activities other than the business presently conducted or currently planned to engage. Furthermore,
Borrower shall not change its name or do business under any other name, or change its state of registration without providing Lender at
least 30 days’ prior written notice.

 

Affiliate Transactions. Borrower
shall not, from and after the date of the Loan Documents, enter into, or be a party to, any transaction with any Affiliate of Borrower,
except in connection with any Permitted Debt or the ordinary course of, and pursuant to the reasonable requirements of, Borrower’s
business and upon fair and reasonable terms which are fully disclosed in writing to Lender and which are no less favorable to Borrower
than Borrower would obtain in a comparable arms-length transaction with a person or entity not an Affiliate of Borrower.

 

    12

     

    

 

Modification of Term Loans with Stark
Community Foundation or City of Canton. In regards to that certain term loan from the Stark Community Foundation in the amount of
Five Million Dollars ($5,000,000.00) (the “Foundation Loan”) and that certain term loan from the City of Canton in the amount
of Five Million Dollars ($5,000,000.00) (the “City Loan”), Borrower will not permit the amendment, modification or the like
of any loan documents or their respective terms and conditions related to such loans without first obtaining the express written consent
of Lender, which shall not be unreasonably withheld or delayed.

 

CESSATION OF ADVANCES. If Lender has made
any commitment to make any Loan to Borrower, whether under this Agreement or under any other agreement, Lender shall have no obligation
to make Loan advances or to disburse Loan proceeds if Lender determines, in its reasonable discretion, that: (A) an Event of Default exists
under the terms of this Agreement, the Loan Documents or any other agreement that Borrower has with Lender, now or in the future; (B)
Borrower becomes insolvent, files a petition in bankruptcy or similar proceedings, or Is adjudged a bankrupt, (C) any of the conditions
precedent set forth above in this Agreement are not satisfied, or (D) there occurs a material adverse change in Borrower’s financial
condition.

 

DEFAULT. Each of the following shall constitute
an Event of Default under this Agreement and the Loan Documents:

 

Payment Default. Borrower fails
to make any payment within ten (10) days of when due under this Agreement, under the Term Loan Note, or the Loan Documents.

 

Completion Default. Borrower
fails to complete the Infrastructure development for Phase II on or before December 31, 2024.

 

Other Defaults. Borrower fails
to comply with, or to perform any other term, debt, Indebtedness, obligation, covenant or condition, contained in this Agreement, or the
Term Loan Note, or the Loan Documents, other than a payment default, or the occurrence of any of the other Events of Default set forth
in this Agreement or the Term Loan Note, and, in the case of an Event of Default that can be cured, said default continues for a period
of thirty (30) days or more after the date of such failure; provided, however, that if such Event of Default is capable of being cured,
curing such Event of Default cannot reasonably be accomplished within said thirty (30) day period, then Borrower shall have an additional
sixty (60) day period to cure such Event of Default and no Event of Default shall be deemed to exist hereunder so long as Borrower commences
such cure within the initial thirty (30) days period and diligently and in good faith pursues such cure to completion within such resulting
ninety (90) day period from the date of the occurrence of such failure.

 

    13

     

    

 

Default in Favor of Third Parties.
Subject to any grace periods or rights to cure, Borrower or a Related Entity, defaults under any loan, debt, indebtedness, extension of
credit, security agreement, purchase or sales agreement, or any other agreement of any kind or nature, in favor of any other creditor
or Person that may materially adversely affect the assets or property of Borrower or a Related Entity taken as a whole, or Borrower’s
ability to repay the Indebtedness, or perform its obligations under the Loan Documents, as determined by Lender in its reasonable discretion.

 

False Statements. Any warranty,
representation or statement made or furnished to Lender by Borrower, or on its behalf, under this Agreement, the Term Loan Note, or the
Loan Documents is false or misleading in any material respect, either now or at the time made or becomes false at any time thereafter.

 

Insolvency. The dissolution or
termination of Borrower’s existence, the cessation of Borrower’s or any business for any reason, the insolvency of Borrower
or a Related Entity, the appointment of a receiver for any part of Borrower’s or a Related Entity’s businesses or property,
any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy
or insolvency laws by or against Borrower or any Related Entity, excepting, however, an involuntary bankruptcy proceeding, for which Borrower
or a Related Entity shall have sixty (60) days from the date of filing to discharge.

 

Creditor or Forfeiture Proceedings.
Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or any other method, by
any creditor of Borrower or a Related Entity, or by any governmental agency against Borrower or a Related Entity, or any assets of Borrower
or a Related Entity. This includes a garnishment of any of Borrower’s or a Related Entity’s accounts. However, this Event
of Default shall not apply if there is a good faith dispute as to the validity or reasonableness of the claim which is the basis of the
creditor or forfeiture proceeding and if Borrower gives Lender written notice of the creditor or forfeiture proceeding and deposits with
Lender monies or a surety bond in an amount determined by Lender as being an adequate reserve or bond for the dispute.

 

Additional Financing. The failure
of Borrower to provide to Lender monthly reports which show progress toward the completion of the due diligence leading to the closing
on financing in an amount reasonably necessary to complete the Infrastructure development for Phase II.

 

Adverse Change. A material adverse
change occurs in Borrower’s or a Related Entity’s financial condition which leads Lender to reasonably believe that the prospect
of a Borrower’s payment or performance is impaired.

 

    14

     

    

 

EFFECT
OF AN EVENT OF DEFAULT. At any time after the occurrence and continuation of an Event of Default beyond any applicable grace or cure
period, except where otherwise provided in this Agreement or the Loan Documents, all commitments and obligations of Lender under this
Agreement immediately will terminate, and, at Lender’s option, all Indebtedness immediately will become due and payable, all without
notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the “Insolvency” subsection
above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in
this Agreement and the Loan Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all
of Lender’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any
remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation
of Borrower shall not affect Lender’s right to declare a default and to exercise its rights and remedies.

 

FINANCIAL
STATEMENTS. As soon as available, but in no event later than One Hundred Twenty (120) days after the end of each fiscal year, Borrower
shall furnish Lender with audited financial statements for Borrower, including balance sheet and income statement for the year ended.
In addition, Borrower shall promptly provide Lender with copies of its publicly filed annual Form 10-K’s and quarterly Form 10-Q’sfor
each of Borrower’s fiscal quarters during the term of the Loan. In addition, Borrower shall furnish to Lender monthly reports describing
the status of Borrower’s pending financing requests to obtain financing in an amount to reasonably complete the Infrastructure
development for Phase II.

 

TAX
RETURNS. Within thirty (30) days after filing, Borrower shall obtain and furnish to Lender the annual federal, state, and local income
tax returns filed by Borrower, together with all schedules and attachments thereto.

 

INDEMNIFICATION.
Notwithstanding anything to the contrary contained herein or in any Loan Document, to the fullest extent permitted by law, Borrower
hereby agrees to protect, indemnify, defend and save harmless, Lender and its directors, officers, Affiliates, agents and employees from
and against any and all liability, expense or damage of any kind or nature and from any suits, claims or demands, including legal fees
and expenses relating to the breach of any covenant, representation, or warranty by Borrower, or on account of any matter or thing or
action or failure to act by Lender or Borrower, whether or not in litigation, arising out of this Agreement or any Loan Document, or
any Event of Default, or any default or event which, with the lapse of time, would constitute an Event of Default, provided, however,
that Borrower shall not be required to indemnify Lender to the extent such suit, claim or damage is caused solely by willful malfeasance
of Lender, its directors, officers, agents and authorized employees. This indemnity is not intended to excuse Borrower from performing
hereunder. All obligations on the part of Borrower shall survive the closing of the transaction contemplated by any Loan Document, the
repayment of any Indebtedness and any cancellation of any Loan Document.

 

OTHER
INFORMATION.  Borrower shall promptly furnish to Lender such other information, reports, certificates, and substantiating documentation
as Lender may reasonably request to reflect Borrower’s financial condition and business performance.

 

PRIOR
AGREEMENTS.  This Agreement shall supersede any prior business loan agreement between Borrower and Lender.

 

INTERPRETATION
OF LOAN DOCUMENTS. The provisions set forth in this Agreement and the Loan Documents shall be cumulative. In the event of a discrepancy
between the provisions set forth in this Agreement and the provisions set forth in the Loan Documents, the provisions which are most
restrictive or impose the greatest obligation on Borrower shall apply.

 

    15

     

    

 

NOTICES.
Any notices under or pursuant to this Agreement shall be deemed duly sent when delivered in hand or when mailed by registered or
certified mail, return receipt requested, addressed as follows:

 

	To Borrower:	Hall of Fame Resort & Entertainment
    Company
	 	2626 Fulton Drive NW
	 	Canton, OH 44718
	 	Attn: Chief Financial Officer
	 	 
	W/ a copy to:	Hall of Fame Resort & Entertainment Company
	 	2626 Fulton Drive NW
	 	Canton, OH 44718
	 	Attn: General Counsel
	 	 
	To Lender:	Stark County Port Authority
	 	400 3rd Street SE, Suite 310
	 	Canton, Ohio 44702
	 	Attention: Administrator
	 	 
	W/ a copy to:	Krugliak Wilkins Griffiths & Dougherty Co., L.P.A.
	 	4775 Munson Street NW
	 	Canton, Ohio 44718
	 	Attention: Christopher
    Hunt

 

ASSIGNMENT.
Borrower agrees not to assign any of Borrower’s rights, remedies or obligations described in this Agreement or under any of
the Loan Documents without the prior written consent of Lender, which consent may be withheld in Lender’s sole discretion (and
any other attempted assignment or transfer by Borrower shall be null and void). This Agreement is assignable by Lender, and any transfer
or assignment of this Agreement, the Term Loan Note, or the Loan Documents, or portions thereof by Lender, shall operate to vest in any
such assignee all rights and powers herein conferred upon and granted to Lender.

 

EXTENT
OF COVENANTS; NO PERSONAL LIABILITY. All covenants, obligations and agreements of the Lender contained in this Agreement shall be
effective to the extent authorized and permitted by applicable law. No such covenant, stipulation, obligation or agreement shall be deemed
to be a covenant, stipulation, obligation or agreement of any present or future member of the Legislative Authority or of any present
or future officer, employee or agent of the Lender, in other than his or her official capacity, and neither the present or future members
of its Legislative Authority, nor any present or future officer, employee or agent of the Lender, shall be subject to any personal liability
or accountability by reason of the stipulations, obligations or agreements contained in this Agreement. Any obligation of the Lender
created by or rising out of this Agreement shall never constitute a general obligation, debt or bonded indebtedness, or a pledge of the
general credit, of the Lender or give rise to any pecuniary liability of the Lender, but shall be payable solely by the disbursement
of the principal of the Term Loan provided by Stark County and disbursed from the Revolving Loan Fund.

 

    16

     

    

 

DEFINITIONS.
 The following capitalized words and terms shall have the following meanings when used in this Agreement. Unless specifically stated
to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United State of America. Words and terms
used in the singular shall include the plural, and the plural shall include the singular, as the context may require. Words and terms
not otherwise defined in this Agreement shall have the meanings attributed to such terms in the Uniform Commercial Code. Accounting words
and terms not otherwise defined in this Agreement shall have the meanings assigned to them in accordance with GAAP as in effect on the
date of this Agreement:

 

Affiliate.
The word “Affiliate” shall mean as to any Person, any other Person (excluding any Subsidiary) which, directly or indirectly,
is in control of, is controlled by, or is under common control with such Person. For purposes of this definition, a Person shall be deemed
to be “controlled by” a Person if such Person possesses, directly or indirectly, power either (i) to vote twenty percent
(20%) or more of the securities having ordinary voting power for the election of directors of such Person or (ii) to direct or cause
the direction of the management and policies of such Person whether by control or otherwise.

 

Agreement.
 The word “Agreement” means this Business Loan Agreement, as this Business Loan Agreement may be amended or modified from
time to time, together with all exhibits and schedules attached to this Business Loan Agreement from time to time.

 

Borrower.
The word “Borrower” means Hall of Fame Resort & Entertainment Company.

 

Event
of Default. The words “Event of Default” mean any of the events of default set forth in this Agreement in the default
section of this Agreement and the Term Loan Note.

 

GAAP.
The term “GAAP” means generally accepted accounting principles in effect in the United States from time to time

 

Indebtedness.
The word “Indebtedness” means the indebtedness evidenced by the Term Loan Note, this Agreement and any other amounts,
including fees, costs and expenses, which Borrower owes to Lender, now or at any time in the future, including without limitation all
principal, interest, fees, costs and expenses and other obligations set forth in the Term Loan Note, this Agreement, or under any of
the Loan Documents.

 

Legislative
Authority. The words “Legislative Authority” the Lender’s Board of Directors.

 

Lender.
The word “Lender” means the Stark County Port Authority, its successors and assigns.

 

Loan.
The words “Loan” or “Loans” means the following, whether now existing or hereafter created, entered into or otherwise
existing: (i) the Term Loan, as described above in this Agreement, (ii) any and all other loans, letters of credit, guaranties, and/or
financial accommodations from Lender to Borrower.

 

Loan
Documents. The words “Loan Documents” means, collectively and Individually, the following: (1) this Agreement; (2) the
Term Loan Note; (3) any exhibit or schedule attached to this Agreement or to any of the Loan Documents and any document or report required
to be provided by Borrower from time to time in connection with the Loan; and (4) all other documents as Lender may reasonably require;
all in form and substance satisfactory to Lender and Lender’s counsel.

 

Note
or Notes. The words “Note” or “Notes” mean the Term Loan Note, together with all renewals of, extensions
of, modifications of, refinancings of, replacements of, consolidations of, and substitutions for such Note.

 

    17

     

    

 

Organic
Documents. The words “Organic Documents” mean with respect to any Person, its charter, certificate or articles of incorporation,
bylaws, articles of organization, limited liability agreement, operating agreement, members agreement, shareholders agreement, partnership
agreement, certificate of partnership, certificate of formation, voting trust agreement, or similar agreement or instrument governing
the formation or operation of such Person.

 

Person.
The word “Person” means any individual, sole proprietorship, partnership, corporation, business trust, joint stock company,
trust, unincorporated associate organization, association, limited liability company, institution, public benefit corporation, joint
venture, entity or governmental body.

 

Property.
The word “Property” means any interest in any kind of property or asset, whether real, personal or mixed, or tangible
or intangible.

 

Related
Entity. The words “Related Entity” means any Subsidiary or Affiliate of Borrower.

 

Revolving
Loan Fund. The words “Revolving Loan Fund” means the revolving loan fund authorized by the Lender pursuant to its Resolution
No. 2022-12 passed on August 10, 2022.

 

Senior
Officer. The words “Senior Officer” mean the chairman of the board, president, chief executive officer, chief financial
officer or general counsel of Borrower.

 

Solvent.
The word “Solvent” means as to any Person, such Person (a) owns Property whose fair salable value is greater than the
amount required to pay all of its debts (including contingent, subordinated, unmatured and unliquidated liabilities); (b) owns Property
whose present fair salable value (as defined below) is greater than the probable total liabilities (including contingent, subordinated,
unmatured and unliquidated liabilities) of such Person as they become absolute and matured; (c) is able to pay all of its debts as they
mature; (d) has capital that is not unreasonably small for its business and is sufficient to carry on its business and transactions and
all business and transactions in which it is about to engage; (e) is not “insolvent” within the meaning of Section 101(32)
of the Bankruptcy Code; and (f) has not incurred (by way of assumption or otherwise) any obligations or liabilities (contingent or otherwise)
under any Loan Documents, or made any conveyance in connection therewith, with actual intent to hinder, delay or defraud either present
or future creditors of such Person or any of its Affiliates. “Fair salable value” means the amount that could be obtained
for assets within a reasonable time, either through collection or through sale under ordinary selling conditions by a capable and diligent
seller to an interested buyer who is willing (but under no compulsion) to purchase.

 

Subsidiary.
The word “Subsidiary” means a corporation, limited liability company, or other entity of whose shares of stock, units,
or other ownership interests having ordinary voting power (other than stock or other ownership interest having such power only by reason
of the happening of a contingency) to elect a majority of the directors of such corporation, are owned, directly or indirectly, by Borrower.

 

Term
Loan Note. The words “Term Loan Note” mean collectively or individually: the Promissory Note executed, or to be executed,
by Borrower to reflect the indebtedness in connection with the Term Loan, in the original principal amount of $5,000,000.00, dated of
even date herewith, together with all renewals of, extensions of, modifications of, refinancings of, replacements of, consolidations
of, and substitutions for such Note.

 

    18

     

    

 

MISCELLANEOUS
PROVISIONS.

 

Waiver
of Notice. Borrower hereby waives notice of non-payment, demand, presentment, protest and notice thereof with respect to this Agreement,
the Note, and all other Loan Documents, notice of acceptance hereof, notice of loans or advances made, credit extended, collateral received
or delivered, or any other action taken in reliance hereon, and all other demands and notices of any description, except such as are
expressly provided in this Agreement or in the Loan Documents.

 

Successors
and Assigns. Borrower may not assign any of its respective rights or delegate any of its respective duties hereunder. This Agreement
will be binding upon and inure to the benefit of the successors of the parties hereto.

 

Survival
of Representations and Warranties. All representations, warranties, covenants, and delivery requirements set forth in this Agreement
and/or in the Loan Documents shall survive the closing of the within Loan and shall continue until all of Borrower’s Indebtedness
to Lender has been paid in full.

 

Delay.
No delay or omission on Lender’s part in exercising any right, remedy or option shall operate as a waiver of such or any other
right, remedy or option or of any Event of Default.

 

Governing
Law. The rights and obligations of the parties hereunder and the interpretation of this Agreement and the Loan Documents are governed
by the laws of the state of Ohio (other than those relating to conflicts of laws).

 

Severability.
If a court of competent jurisdiction finds any provision of this Agreement to be illegal, invalid, or unenforceable as to any circumstance,
that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other circumstance. If feasible, the
offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending provision cannot be
so modified, it shall be considered deleted from this Agreement. Unless otherwise required by law, the illegality, invalidity, or unenforceability
of any provision of this Agreement shall not affect the legality, validity or enforceability of any other provision of this Agreement.

 

No
Waiver by Lender. Lender shall not be deemed to have waived any rights under this Agreement unless such waiver is given in writing
and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any
other right. A waiver by Lender of a provision of this Agreement shall not prejudice or constitute a waiver of Lender’s right otherwise
to demand strict compliance with that provision or any other provision of this Agreement. No prior waiver by Lender, nor any course of
dealing between Lender and Borrower shall constitute a waiver of any of Lender’s rights or of any of Borrower’s obligations
as to any future transactions. Whenever the consent of Lender is required under this Agreement, the granting of such consent by Lender
in any instance shall not constitute continuing consent to subsequent instances where such consent is required.

 

Consent
to Jurisdiction. Borrower agrees that any action or proceeding to enforce or arising out of this Agreement shall be commenced in,
and Borrower consents to the jurisdiction of, the courts of Stark County, State of Ohio.

 

    19

     

    

 

CONFESSION
OF JUDGMENT. Borrower hereby irrevocably authorizes
and empowers any attorney-at-law, including an attorney hired
by Lender, to appear in any
court of record and to confess
judgment against Borrower for the unpaid amount due and owing
in connection with this Agreement, the Note, and/or other Loan Documents, as
evidenced by an affidavit signed by an officer of Lender
setting forth the amount then due,
attorneys’ fees plus costs of suit, and to release all
errors, and waive all rights of appeal. If a copy of this Agreement,
the Note, or other Loan Document, as may be applicable, verified by
an affidavit, shall have been filed
in the proceeding,
it will not be necessary
to file the original as
a warrant of attorney. Borrower
hereby waives the right
to any injunction which would prevent Lender from
taking judgment under this Agreement, the Note and/or other Loan
Documents by confession, and any stay of
execution and the benefit of all exemption laws now or hereafter
in effect. No single exercise of the foregoing warrant
and power to confess judgment
will be deemed to exhaust
the power, whether
or not any such exercise
shall be held by any
court to be invalid,
voidable, or void; but
the power will continue
undiminished and may be exercised
from time to time as Lender
may elect until all amounts owing on
this Agreement, the Note and/or other Loan Documents have been paid
in full. Borrower waives
any conflict of interest that an attorney hired by Lender may have
in acting on behalf of
Borrower in confessing judgment
against Borrower while such attorney
is retained by Lender. Borrower
expressly consents to such attorney acting for Borrower in confessing judgment.

 

BORROWER
ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS AGREEMENT AND BORROWER AGREES TO ITS TERMS. THIS AGREEMENT IS ENTERED INTO AND EXECUTED
IN STARK COUNTY, OHIO AND DATED AS OF AUGUST __, 2022.

 

[Signatures
on the following page]

 

    20

     

    

 

	WARNING
    - BY SIGNING THIS PAPER YOU GIVE UP YOUR RIGHT TO NOTICE AND COURT TRIAL.  IF YOU DO NOT PAY ON TIME A COURT JUDGMENT MAY
    BE TAKEN AGAINST YOU WITHOUT YOUR PRIOR KNOWLEDGE AND THE POWERS OF A COURT CAN BE USED TO COLLECT FROM YOU REGARDLESS OF ANY CLAIMS
    YOU MAY HAVE AGAINST THE CREDITOR WHETHER FOR RETURNED GOODS, FAULTY GOODS, FAILURE ON HIS PART TO COMPLY WITH THE AGREEMENT, OR
    ANY OTHER CAUSE.

 

	BORROWER:	 	LENDER:
	 	 	 	 	 
	By: 	HALL OF FAME RESORT & ENTERTAINMENT COMPANY	STARK COUNTY PORT AUTHORITY
	 	 	 	 	 
	By:	/s/ Michael Crawford	 	By:	/s/ Ron Manse
	Print Name:  	Michael Crawford	 	 	Ron Manse, Chairperson
	Its:	President & CEO	 	     	 
	 	 	 	and
	 
	 	 	 	 	 
	 	 	 	By:	/s/ Ray Hexamer
	 	 	 	 	Ray Hexamer, Assistant Secretary

 

[Signature
Page to Business Loan Agreement]

 

    21

     

    

 

CERTIFICATE

 

The
undersigned officers of the Stark County Port Authority (the “Lender” in the above Agreement), hereby certify that
the money, if any, required to meet the obligations of Lender during the year 2022 under the foregoing Agreement have been lawfully appropriated
by the Board of Directors of Lender for such purposes and are in the treasury of Lender or in the process of collection to the credit
of an appropriate fund, free from any previous encumbrances. This Certificate is given in compliance with Sections 5705.41 and 5705.44,
Ohio Revised Code.

 

	 	/s/ Ray Hexamer
	 	Ray Hexamer, Assistant Secretary
	 	Stark County Port Authority
	 	 
	 	/s/
    Roger Mann 
	 	Roger Mann, Treasurer
	 	Stark County Port Authority

 

Date:
August 31, 2022

 

872401

 

[Certificate
to Business Loan Agreement]

 

    22

     

    

 

Exhibit
A

 

Fan Engagement Zone (aka Retail
I and Retail II parcels):

 

Retail I (OL 1478), Parcel Nos. 10015053, 10014342:

 

Situated in the City of Canton, Stark County, State
of Ohio, being all of O.L. 1478 on that certain HOF Village Replat recorded as Instrument Number 202203250013418 of the Stark County,
Ohio Records, containing 4.85 acres, more or less.

 

Retail II (Lot 43481), Parcel Nos. 10015055, 10014341:

 

Situated in the City of Canton, Stark County, State of
Ohio, and known as all of Lot 43481 on that certain HOF Village Replat recorded as Instrument Number 202203250013418 of the Stark County,
Ohio Records, containing .91 acres, more or less.

 

CFE Building (OL 1480), Parcel Nos. 10015056, 10014340:

 

Situated in the City of Canton, Stark County, Ohio,
and known as O.L. 1480 on that certain HOF Village Replat recorded in the Office of the Recorder of Stark County as Instrument No. 202203250013418,
containing 3.64 acres, more or less.

 

CFE Parking (OL 1481), Parcel No. 10015057:

 

Situated in the City of Canton, Stark County, Ohio,
and known as O.L. 1481 on that certain HOF Village Replat recorded in the Office of the Recorder of Stark County as Instrument No. 202203250013418,
containing 3.60 acres, more or less.

 

CFP Parcel (OL 1482) Parcel No. 10015058:

 

Situated in the City of Canton, Stark County, Ohio,
and known as O.L. 1482 on that certain HOF Village Replat recorded in the Office of the Recorder of Stark County as Instrument No. 202203250013418,
containing 6.34 acres, more or less.

 

Play Action Plaza (OL 1479), Parcel No. 10015054:

 

Situated in the City of Canton, Stark County, Ohio,
and known as O.L. 1479 on that certain HOF Village Replat recorded in the Office of the Recorder of Stark County as Instrument No. 202203250013418,
containing 3.10 acres, more or less.

 

Waterpark (OL 1469), Parcel No. 10014331:

 

Situated in the City of Canton, Stark County, State of
Ohio, being all of O.L. 1469 on that certain Pro Football Hall of Fame Replat and Vacation recorded in the Office of the Recorder of Stark
County as Instrument Number 202108120041822, containing 4.93 acres, more or less.

 

WP Hotel (OL 1463), Parcel No. 10014330:

 

Situated in the City of Canton, Stark County, and State
of Ohio, being all of Outlot 1463 on that certain Pro Football Hall of Fame Replat and Vacation recorded in the Office of the Recorder
of Stark County as Instrument Number 202108120041822, containing 1.64 acres, more or less.

 

    23

     

    

 

Waterpark & Hotel Parking (OL 1465), Parcel No. 10014334:

 

Situated in the City of Canton, Stark County, Ohio, and
known as O.L. 1465 on that certain Pro Football Hall of Fame Replat and Vacation recorded in the Office of the Recorder of Stark County
as Instrument No. 202108120041822, containing 2.49 acres, more or less.

 

HOFRECo Offices/2626 Fulton (Lot 43461), Parcel No. 10014332:

 

Situated in the City of Canton, Stark County, Ohio,
and known as O.L. 43461 on that Pro Football Hall of Fame Replat and Vacation recorded in the Office of the Recorder of Stark County as
Instrument No. 202108120041822, containing 0.21 acres, more or less.

 

Private Roadway (OL 1477), Parcel Nos. 10015059, 10014344:

 

Situated in the City of Canton, Stark County, Ohio, and
known as O.L. 1477 on that certain HOF Village Replat recorded in the Office of the Recorder of Stark County as Instrument No.

202203250013418, containing 9.5958 acres, more or less.

 

 

24ex_420391.htm

Exhibit 4.1

 

NEITHER THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES

 

PRE-FUNDED COMMON STOCK PURCHASE WARRANT

 

REVIVA PHARMACEUTICALS HOLDINGS, INC.

 

	Warrant Shares: _______        	Issue Date: September 8, 2022

 

THIS PRE-FUNDED COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, _____________ or its assigns (the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date hereof (the “Initial Exercise Date”) until this Warrant is exercised in full (the “Termination Date”) but not thereafter, to subscribe for and purchase from Reviva Pharmaceuticals Holdings, Inc., a Delaware corporation (the “Company”), up to ______ shares of common stock, par value $0.0001 per share (the “Common Stock”) (as subject to adjustment hereunder, the “Warrant Shares”). The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

 

Section 1.     Definitions. Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase Agreement (the “Purchase Agreement”), dated September 6, 2022, among the Company and the purchasers signatory thereto.

 

Section 2.     Exercise.

 

(a)    Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed facsimile copy or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto as Exhibit A (the “Notice of Exercise”). Within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined in Section 2(d)(i) herein) following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the shares specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United States bank unless the cashless exercise procedure specified in Section 2(c) below is specified in the applicable Notice of Exercise. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading Days of the date on which the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise within one (1) Trading Day of receipt of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof.

 

 

 

 

(b)    Exercise Price. The aggregate exercise price of this Warrant, except for a nominal exercise price of $0.0001 per Warrant Share, was pre-funded to the Company on or prior to the Initial Exercise Date and, consequently, no additional consideration (other than the nominal exercise price of $0.0001 per Warrant Share) shall be required to be paid by the Holder to any Person to effect any exercise of this Warrant. The Holder shall not be entitled to the return or refund of all, or any portion, of such pre-paid aggregate exercise price under any circumstance or for any reason whatsoever, including in the event this Warrant shall not have been exercised prior to the Termination Date. The remaining unpaid exercise price per share of Common Stock under this Warrant shall be $0.0001, subject to adjustment hereunder (the “Exercise Price”).

 

(c)    Cashless Exercise. Notwithstanding anything to the contrary set forth herein, if at the time of exercise hereof there is no effective registration statement registering the resale of the Warrant Shares by, or the prospectus contained therein is not available for the issuance of the Warrant Shares to, the Holder, then this Warrant may also be exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

(A) = as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal Trading Market as reported by Bloomberg L.P. (“Bloomberg”) as of the time of the Holder’s execution of the applicable Notice of Exercise if such Notice of Exercise is executed during “regular trading hours” on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of “regular trading hours” on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of “regular trading hours” on such Trading Day;

 

2

 

 

(B) =  the Exercise Price of this Warrant, as adjusted hereunder; and

 

(X) = the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise.

 

If Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities Act, the Warrant Shares shall take on the registered characteristics of the Warrants being exercised and any holding period of the Warrant Shares being issued may be tacked on to the holding period of this Warrant. The Company agrees not to take any position contrary to this Section 2(c).

 

“Bid Price” means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted on a Trading Market, the bid price of the Common Stock for the time in question (or the nearest preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported on The Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Purchasers of a majority in interest of the Securities then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

“Trading Day” means any day on which the Trading Market is open for trading, including any day on which the Trading Market is open for trading for a period of time less than the customary time.

 

“VWAP” means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported on The Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Purchasers of a majority in interest of the Securities then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

3

 

 

(d)    Mechanics of Exercise

 

(i)    Delivery of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted by the Transfer Agent to the Holder by crediting the account of the Holder’s or its designee’s balance account with The Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant in such system and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by the Holder or (B) the Warrant Shares are eligible for resale by the Holding without volume or manner-of-sale limitations pursuant to Rule 144 (assuming cashless exercise of the Warrants), and otherwise by physical delivery of a certificate (if such shares are certificated), registered in the Company’s share register in the name of the Holder or its designee, for the number of Warrant Shares to which the Holder is entitled pursuant to such exercise to the address specified by the Holder in the Notice of Exercise by the date that is the earlier of (i) two (2) Trading Days after the delivery to the Company of the Notice of Exercise and (ii) the number of Trading Days comprising the Standard Settlement Period after the delivery to the Company of the Notice of Exercise (such date, the “Warrant Share Delivery Date”). Upon delivery of the Notice of Exercise, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date of delivery of the Warrant Shares, provided that payment of the aggregate Exercise Price (other than in the case of a cashless exercise) is received within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period following delivery of the Notice of Exercise. If the Company fails for any reason to deliver to the Holder the Warrant Shares subject to a Notice of Exercise by the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares subject to such exercise (based on the VWAP of the Common Stock on the date of the applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the third Trading Day after the Warrant Share Delivery Date) for each Trading Day after such Warrant Share Delivery Date until the earlier of such Warrant Shares being delivered or Holder rescinds such exercise. The Company agrees to maintain a transfer agent that is a participant in the FAST program so long as this Warrant remains outstanding and exercisable. As used herein, “Standard Settlement Period” means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the Notice of Exercise. Notwithstanding the foregoing, with respect to any Notice(s) of Exercise delivered on or prior to 12:00 p.m. (New York City time) on the Initial Exercise Date, which may be delivered at any time after the time of execution of the Purchase Agreement, the Company agrees to deliver the Warrant Shares subject to such notice(s) by 4:00 p.m. (New York City time) on the Initial Exercise Date and the Initial Exercise Date shall be the Warrant Share Delivery Date for purposes hereunder, provided that payment of the aggregate Exercise Price (other than in the case of a cashless exercise) is received by such Warrant Share Delivery Date.

 

(ii)    Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant.

 

4

 

 

(iii)    Rescission Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to Section 2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

(iv)    Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available to the Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions of Section 2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which case such exercise shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have been issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

 

(v)    No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price or round up to the next whole share.

 

(vi)    Charges, Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided, however, that, in the event that Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise and all fees to the Depository Trust Company (or another established clearing corporation performing similar functions) required for same-day electronic delivery of the Warrant Shares.

 

5

 

 

(vii)    Closing of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this Warrant, pursuant to the terms hereof.

 

(e)    Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Company (including, without limitation, any other Common Stock Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 2(e), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within one Trading Day confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be [14.99%/19.99%] of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership Limitation in no event exceeds 19.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

 

6

 

 

Section 3.     Certain Adjustments.

 

(a)    Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re classification.

 

(b)    [RESERVED]

 

(c)    Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, during such time as this Warrant is outstanding, the Company grants, issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, that, to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

7

 

 

(d)    Pro Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”), at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, that, to the extent that the Holder's right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

(e)    Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company (or any Subsidiary), directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of the Company’s assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding shares of Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off, merger or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires50% or more of the outstanding shares of Common Stock or 50% or more of the voting power of the common equity of the Company (each a “Fundamental Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard to any limitation in Section 2(e) on the exercise of this Warrant), the number of shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise of this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction. The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing all of the obligations of the Company under this Warrant and the other Transaction Documents in accordance with the provisions of this Section 3(e) pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the shares of Common Stock acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Warrant and the other Transaction Documents referring to the “Company” shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein.

 

8

 

 

(f)    Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

(g)    Notice to Holder.

 

(i)    Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

(ii)    Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with any reclassification of the shares of Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the shares of Common Stock are converted into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by facsimile or email to the Holder at its last facsimile number or email address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such notice or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided in this Warrant constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

 

(h)    Voluntary Adjustment By Company. Subject to the rules and regulations of the Trading Market, the Company may at any time during the term of this Warrant, subject to the prior written consent of the Holder, reduce the then current Exercise Price to any amount and for any period of time deemed appropriate by the board of directors of the Company.

 

9

 

 

Section 4.     Transfer of Warrant.

 

(a)    Transferability. Subject to compliance with applicable securities laws and the conditions set forth on Section 4(d) hereof, this Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant to the Company within three (3) Trading Days of the date on which the Holder delivers an assignment form to the Company assigning this Warrant in full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

 

(b)    New Warrants. Subject to compliance with applicable securities laws, this Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the initial issuance date of this Warrant and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

(c)    Warrant Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

 

(d)    Transfer Restrictions. If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant, the transfer of this Warrant shall not be either (i) registered pursuant to an effective registration statement under the Securities Act and under applicable state securities or blue sky laws or (ii) eligible for resale without volume or manner-of-sale restrictions or current public information requirements pursuant to Rule 144, the Company may require, as a condition of allowing such transfer, that the Holder or transferee of this Warrant, as the case may be, comply with the provisions of Section 5.7 of the Purchase Agreement.

 

10

 

 

(e)     Representation by the Holder. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant and, upon any exercise hereof, will acquire the Warrant Shares issuable upon such exercise, for its own account and not with a view to or for distributing or reselling such Warrant Shares or any part thereof in violation of the Securities Act or any applicable state securities law, except pursuant to sales registered or exempted under the Securities Act.

 

Section 5.     Miscellaneous.

 

(a)    No Rights as Stockholder Until Exercise; No Settlement in Cash. This Warrant does not entitle the Holder to any voting rights, dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth in Section 3. Without limiting any rights of a Holder to receive Warrant Shares on a “cashless exercise” pursuant to Section 2(c) or to receive cash payments pursuant to Section 2(d)(i) and Section 2(d)(iv) herein, in no event shall the Company be required to net cash settle an exercise of this Warrant.

 

(b)    Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

 

(c)    Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Trading Day, then such action may be taken or such right may be exercised on the next succeeding Trading Day.

 

(d)    Authorized Shares. The Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common Stock may be listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue).

 

11

 

 

Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

 

Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof.

 

(e)    Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance with the provisions of the Purchase Agreement.

 

(f)    Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, and the Holder does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

(g)    Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other provision of this Warrant or the Purchase Agreement, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

(h)    Notices. Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance with the notice provisions of the Purchase Agreement.

 

(i)    Limitation of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

 

12

 

 

(j)    Remedies. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the defense in any action for specific performance that a remedy at law would be adequate.

 

(k)    Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and shall be enforceable by the Holder or holder of Warrant Shares.

 

(l)     Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

 

(m)    Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

 

(n)    Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.

 

********************

 

(Signature Page Follows)

 

13

 

 

IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

	 	
			REVIVA PHARMACEUTICALS HOLDINGS, INC.

			
	 	 
	 	 
	 	
			By:                                                                             

			
	 	
			Name: Dr. Laxminarayan Bhat

			
	 	
			Title: President, Chief Executive Officer

			

 

14

 

 

EXHIBIT A

 

NOTICE OF EXERCISE

 

TO: REVIVA PHARMACEUTICALS HOLDINGS, INC.

 

(1)         The undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

(2)         Payment shall take the form of (check applicable box):

 

[ ]         in lawful money of the United States; or

 

[ ]         if permitted the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in subsection 2(c).

 

(3)         Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

	                                                                            	 
	 	 
	
			The Warrant Shares shall be delivered to the following DWAC Account Number:

			
	 	 
	                                                                            	 
	                                                                            	 
	                                                                            	 
	 	 
	 	 
	
			[SIGNATURE OF HOLDER]

				 
	 	 
	
			Name of Investing Entity:

				 
	 	 
	                                                                                                                                                         
	
			Signature of Authorized Signatory of Investing Entity: 

				 
	 	 
	                                                                            	 
	
			Name of Authorized Signatory

				 
	 	 
	                                                                            	 
	
			Title of Authorized Signature:

				 
	 	 
	                                                                            	 
	
			Date

				 

 

15

 

 

EXHIBIT B

 

ASSIGNMENT FORM

 

(To assign the foregoing Warrant, execute this form and supply required information. Do not use this form to exercise the Warrant to purchase shares.)

 

FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

	
			Name:

				                                                                            
	 	
			(Please Print)

			
	 	 
	
			Address:

				                                                                            
	 	
			(Please Print)

			
	 	 
	
			Phone Number

				 
	 	 
	
			Email Address:

				 
	 	 
	
			Dated: _______________ ____, _______

				 
	 	 
	
			Holder's Signature                                                     

				 
	 	 
	
			Holder's Address                                                       

				 
	 	 

 

16

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"}]]