Document:

Exhibit
10.13

 

This
Loan Agreement (this “Agreement”) is made on July 3, 2020 by and between 2490585 Ontario
Inc., an Ontario
corporation (“Lender”), and Slinger Bag Americas Inc., a
Delaware corporation (together with its affiliates, “Borrower”).

 

WHEREAS,
Borrower requires
a further infusion
of U.S. $500,000
in cash (the “Loan”)
in order to finance its operations and Lender wishes to provide the Loan, subject to the terms and on the conditions of
this Agreement;

 

Now,
therefore, in consideration of the premises and the mutual covenants and agreements of the Parties hereinafter set forth,
it is hereby agreed by and between the Parties hereto as follows:

 

1.
Loan. Lender hereby
agrees to lend
FIVE HUNDRED THOUSAND ($500,000) USD
in immediately available funds to the Borrower on July 3, 2020 by wiring the same
in accordance with instructions to be provided by the Borrower separately. Borrower agrees to accept $500,000 as a loan
to be repaid by July 3, 2021. The Loan shall bear interest at a rate of 24% per annum on the outstanding amount until repaid in
full. Any payment of cash to be made by Borrower to Lender shall be applied first to accrued, but unpaid, interest and second
to the outstanding principal.

 

2.
 Dividends
or Distributions.
The Parties agree that Borrower
shall not be
permitted to
declare, make or pay any dividend or distribution unless and until the Loan is repaid in full.

 

3.
 Costs and Fees. Each Party will bear its
own costs in connection with the entry into this Agreement and any payments to be made or received hereunder.

 

4. Amendments and Assignments. This Agreement
may not be amended or assigned without
the written consent of all Parties.

 

5. Further
Assurances. Each party hereto agrees to execute, on request, all other documents and
instruments as the other party shall
reasonably request, and to take any actions, which
are reasonably required or desirable to carry out obligations imposed under, and affect the purposes of, this
Agreement.

 

6. 
Governing Law and Jurisdiction. This Agreement
shall be governed by the substantive law of the State of New York, without application
of any conflict of laws principle that would require the application of the law of any other jurisdiction

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the
parties have executed this Agreement
as of the day and year first
above written.

 

	Slinger
    Bag Americas Inc.	 
	 	 	 
	By:	Mike
    Ballardie	 
	Chief
    Executive Officer	 
	I
    have authority to bind the corporation	 

 

Agreed
and accepted:

2490585
Ontario Inc.

 

	By:	                	 
	Elisha
    Kalfa - Director	 
	I
    have authority to bind the corporationExhibit 10.14

 

SLINGER
BAG LTD

FIRST
AMENDMENT TO PROMISSORY NOTE 

AND
LOAN AGREEMENT 

Dated
June 1, 2020

 

Reference
is made to the Amended and Restated Promissory Note and Loan Agreement dated September 11, 2019 (the “Loan Agreement”)
between Mont-Saic Investments LLC (which was incorrectly listed as Montsaic Investments in the Loan Agreement) and Slinger Bag
Ltd. Capitalized terms used but not defined herein have the meanings assigned to such terms in the Loan Agreement.

 

Mont-Saic
Investments LLC (“Mont-Saic”) hereby agrees:

 

	 	1.	To
    delete clause 3 of the Loan Agreement in its entirety and any other reference to conversion or the transactions contemplated
    by conversion so that the Montsaic no longer has any right to convert any portion of the Loan Amount into shares of common
    stock of Slinger Bag Inc.; and
	 	 	 
	 	2.	that
    the Maturity Date shall be extended for another 12 months so that, upon due execution of this extension agreement, the Maturity
    Date in the Loan Agreement will be June 1, 2021. Furthermore, Mont-Saic hereby waives its right to receive default interest
    and any events of default under or other breaches of the Loan Agreement and agrees not to make any claims or institute any
    actions in court or otherwise in respect thereof. All other terms and conditions of the Loan Agreement shall remain in full
    force and effect.

 

	Mont-Saic
Investments LLC	 
	 	 	 
	By:	Noah
    Scheinbaum	 
	Title:	Authorized
    Signatory	 

 

Agreed
and accepted:

 

	Slinger
    bag Ltd.	 
	 	 	 
	By:	Mike
    Ballardie	 
	Title:	Authorized
    SignatoryExhibit
10.15

 

This
Loan Agreement (this “Agreement”) is made on June 30, 2020 by and between Mont-Saic Investments, LLC (“Lender”),
and Slinger Bag Americas Inc., a Delaware corporation (together with its affiliates, “Borrower”).

 

WHEREAS,
Borrower requires a further infusion of U.S. $120,000 in cash (the “Loan”) in order to finance its operations and
Lender wishes to provide the Loan, subject to the terms and on the conditions of this Agreement;

 

Now,
therefore, in consideration of the premises and the mutual covenants and agreements of the Parties hereinafter set forth,
it is hereby agreed by and between the Parties hereto as follows:

 

1. Loan.
Lender hereby agrees to lend ONE HUNDRED TWENTY THOUSAND ($120,000) USD in immediately available funds to the Borrower
on June 22, 2020 by wiring the same in accordance with instructions to be provided by the Borrower separately. Borrower
agrees to accept $120,000 as a loan to be repaid on June 30, 2021. The Loan shall bear interest at a rate of 12.6% per annum
on the outstanding amount until repaid in full. Any payment of cash to be made by Borrower to Lender shall be applied first
to accrued, but unpaid, interest and second to the outstanding principal.

 

2. Dividends
or Distributions. The Parties agree that Borrower shall not be permitted to declare, make or pay any dividend or
distribution unless and until the Loan is repaid in full.

 

3. Costs
and Fees. Each Party will bear its own costs in connection with the entry into this Agreement and any payments to be made
or received hereunder.

 

4. Amendments
and Assignments. This Agreement may not be amended or assigned without the written consent of all Parties.

 

5. Further
Assurances. Each party hereto agrees to execute, on request, all other documents and instruments as the other party shall
reasonably request, and to take any actions, which are reasonably required or desirable to carry out obligations imposed
under, and affect the purposes of, this Agreement.

 

6. Governing
Law and Jurisdiction. This Agreement shall be governed by the substantive law of the State of New York, without
application of any conflict of laws principle that would require the application of the law of any other
jurisdiction

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written.

 

	Slinger
    Bag Americas Inc.	 
	 	  	 
	 		 
	By:	Mike
    Ballardie	 
	Title:	Chief
    Executive Officer	 
	 	 	 
	Agreed
    and accepted:	 
	 	 	 
	 	 	 
	By:	Noah
    Scheinbaum	 
	Title:	Authorized
    SignatoryExhibit
10.16

 

This
Loan Agreement (this “Agreement”) is made on August 10, 2020 by and between 2490585 Ontario Inc., an Ontario
corporation (“Lender”), and Slinger Bag Americas Inc., a Delaware corporation (together with its affiliates,
“Borrower”).

 

WHEREAS,
Borrower requires a further infusion of U.S. $250,000 in cash (the “Loan”) in order to finance its operations and
Lender wishes to provide the Loan, subject to the terms and on the conditions of this Agreement;

 

Now,
therefore, in consideration of the premises and the mutual covenants and agreements of the Parties hereinafter set forth,
it is hereby agreed by and between the Parties hereto as follows:

 

1. Loan.
Lender hereby agrees to lend TWO HUNDRED FIFY THOUSAND ($250,000) USD in immediately available funds to the Borrower
on August 10, 2020 by wiring the same in accordance with instructions to be provided by the Borrower separately. Borrower
agrees to accept $250,000 as a loan to be repaid by August 10, 2021. The Loan shall bear interest at a rate of 24% per annum
on the outstanding amount until repaid in full. Any payment of cash to be made by Borrower to Lender shall be applied first
to accrued, but unpaid, interest and second to the outstanding principal. The Loan shall be subject to and hereby made an
integral part of the Purchase Order Financing Agreement dated July 8, 2020 between the parties.

 

2. Dividends
or Distributions. The Parties agree that Borrower shall not be permitted to declare, make or pay any dividend or
distribution unless and until the Loan is repaid in full.

 

3. Costs
and Fees. Each Party will bear its own costs in connection with the entry into this Agreement and any payments to be made
or received hereunder.

 

4. 
Amendments and Assignments. This Agreement may not be amended or assigned without the written consent of all
Parties.

 

5. Further
Assurances. Each party hereto agrees to execute, on request, all other documents and instruments as the other party shall
reasonably request, and to take any actions, which are reasonably required or desirable to carry out obligations imposed
under, and affect the purposes of, this Agreement.

 

6. Governing
Law and Jurisdiction. This Agreement shall be governed by the substantive law of the State of New York, without
application of any conflict of laws principle that would require the application of the law of any other
jurisdiction

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written.

 

	Slinger
    Bag Americas Inc.	 
	 	 	 
	By:	           	 
	Mike
    Ballardie	 
	Chief
    Executive Officer	 
	I
    have authority to bind the corporation	 

 

Agreed
and

 

accepted:

 

2490585
Ontario Inc.

 

	By:	                	 
	Elisha
    Kalfa - Director	 
	I
    have authority to bind the corporationllexq-ex101_6.htm

Exhibit 10.1

SECOND AMENDMENT TO SENIOR SECURED SUPER-PRIORITY DEBTOR-IN-POSSESSION CREDIT AGREEMENT

 

This SECOND AMENDMENT TO SENIOR SECURED SUPER-PRIORITY DEBTOR-IN-POSSESSION CREDIT AGREEMENT (this “Agreement”) dated as of August 21, 2020, is among Lilis Energy Inc., a Nevada corporation (the “Borrower”), certain Subsidiaries of the Borrower (the “Guarantors”), BMO Harris Bank N.A. (“BMO”), as Administrative Agent for the Lenders, and the other Lenders from time to time party hereto.

Recitals

	
A.
	
WHEREAS, the Borrower, the Guarantors, the Lenders party thereto and the Administrative Agent are parties to that certain Senior Secured Super-Priority Debtor-In-Possession Credit Agreement dated as of June 30, 2020 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), pursuant to which the Lenders have made certain credit available to and on behalf of the Borrower.

	
B.
	
WHEREAS, the Borrower has requested that the Administrative Agent and the Lenders constituting the Majority Lenders enter into this Amendment to, among other things, grant an extension of certain Chapter 11 Milestones as further set forth herein.

NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

Section 1Defined Terms.  Each capitalized term which is defined in the Credit Agreement, but which is not defined in this Agreement, shall have the meaning ascribed to such term in the Credit Agreement. 

Section 2Amendments.  Subject to the occurrence of the Effective Date, the following amendments to the Credit Agreement shall be made:

2.1Amendments to Section 8.23. 

(a)Section 8.23(h) of the Credit Agreement is hereby amended by replacing the phrase “within one-hundred (100) days following the Petition Date” with the phrase “no later than 11:59 P.M. (CT) on October 13, 2020”.

(b)Section 8.23(j) of the Credit Agreement is hereby amended by replacing the phrase “one-hundred-twenty (120) days after the Petition Date” with the phrase “11:59 P.M. (CT) on November 2, 2020”.

Section 3Conditions Precedent to Effective Date.  This Agreement shall become effective on the date (such date, the “Effective Date”) when each of the following conditions is satisfied (or waived) in accordance with the terms herein: 

3.1The Administrative Agent shall have received from the Borrower, each Guarantor, and Lenders constituting the Majority Lenders, counterparts of this Agreement signed on behalf of such Persons.

 

 

3.2As of the Effective Date, after giving effect to this Agreement, (a) the representations and warranties of each Loan Party set forth in the Credit Agreement and in each other Loan Document shall be true and correct in all material respects (unless already qualified by materiality in which case such applicable representation and warranty shall be true and correct), except to the extent such representations and warranties expressly relate to an earlier date, in which case they shall be true and correct in all material respects (unless already qualified by materiality in which case such applicable representation and warranty shall be true and correct) as of such earlier date and (b) no Default or Event of Default shall have occurred and be continuing.

Each party hereto hereby authorizes and directs the Administrative Agent to declare this Agreement to be effective (and the Effective Date shall occur) when it has received documents confirming or certifying, to the reasonable satisfaction of the Administrative Agent, compliance with the conditions set forth in this Section 3. Such declaration shall be final, conclusive and binding upon all parties to the Credit Agreement for all purposes.

Section 4Miscellaneous.

4.1Limitation of Waivers. Nothing contained in this Agreement shall directly or indirectly in any way whatsoever, except as set forth herein, amend or alter any provision of the Credit Agreement, the other Loan Documents, or any other contract or instrument.

4.2Confirmation.  The provisions of the Credit Agreement and each Loan Document shall remain in full force and effect following the Effective Date.

4.3Ratification and Affirmation; Representations and Warranties.  Each of the Guarantors and the Borrower certifies to the Lenders, on the Effective Date, as applicable, that, after giving effect to this Agreement and the amendments and transactions occurring on the Effective Date, (a) the representations and warranties of each Loan Party set forth in the Credit Agreement and in each other Loan Document are true and correct in all material respects (unless already qualified by materiality in which case such applicable representation and warranty are true and correct), except to the extent such representations and warranties expressly relate to an earlier date, in which case they are true and correct in all material respects (unless already qualified by materiality in which case such applicable representation and warranty are true and correct) as of such earlier date and (b) no Default or Event of Default has occurred and is continuing.   

4.4Counterparts.  This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed signature page of this Agreement by email or facsimile transmission shall be effective as delivery of a manually executed counterpart hereof.  The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to any  document to be signed in connection with this Agreement and the transactions contemplated hereby shall be deemed to include electronic signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act; provided that nothing herein shall require the Administrative Agent to accept electronic signatures in any form or format without its prior written consent.  Without limiting the generality of the foregoing, the Borrower hereby (i) agrees that, for all purposes, including without limitation, in connection with any workout, restructuring, enforcement of remedies, bankruptcy proceedings or litigation among the Administrative Agent, the Lenders and the Borrower and its Subsidiaries, electronic images of this Agreement or any other Loan Documents (in each 

2

 

case, including with respect to any signature pages thereto) shall have the same legal effect, validity and enforceability as any paper original, and (ii) waives any argument, defense or right to contest the validity or enforceability of the Loan Documents based solely on the lack of paper original copies of any Loan Documents, including with respect to any signature pages thereto.

4.5No Oral Agreement.  This Agreement, the Credit Agreement, the other Loan Documents and any separate letter agreement with respect to fees payable to the Administrative Agent constitute the entire contract among the parties relating to the subject matter hereof and thereof and supersede any and all previous agreement and understandings, oral or written, relating to the subject matter hereof and thereof. THIS AGREEMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES HERETO AND THERETO AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENT OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. 

4.6GOVERNING LAW.  THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

4.7WAIVER OF RIGHT TO TRIAL BY JURY.  EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.

4.8Severability.  Any provision of this Agreement or any other Loan Document held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof or thereof, and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

4.9Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns in accordance with Section 12.04 of the Credit Agreement.

4.10Loan Documents.  This Agreement is a Loan Document.

[Signature Pages Follow]

 

3

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed effective as of the Effective Date.

		
	
 

BORROWER:
	
 

LILIS ENERGY, INC.

	
 
	
 

	
 
	
 

	
 
	
By:/s/ Joseph C. Daches

	
 
	
Name:Joseph C. Daches 

	
 
	
Title:Chief Executive Officer, President and Chief Financial Officer 

	
 

GUARANTORS:
	
 

BRUSHY RESOURCES, INC.

	
 
	
HURRICANE RESOURCES LLC

	
 
	
IMPETRO OPERATING LLC

	
 
	
LILIS OPERATING COMPANY, LLC

	
 
	
IMPETRO RESOURCES, LLC

	
 
	
 

	
 
	
 

	
 
	
Each By: /s/ Joseph C. Daches

	
 
	
Name:Joseph C. Daches

	
 
	
Title:Chief Executive Officer, President and Chief Financial Officer

 

 

	
ADMINISTRATIVE AGENT:
	
BMO HARRIS BANK N.A., 
as Administrative Agent, and a Lender

 

By:/s/ Melissa Guzmann___________
Name:Melissa Guzmann
Title:Director

5

 

	
LENDERS:
	
CAPITAL ONE, NATIONAL ASSOCIATION,
as a Lender

By:/s/ Michael P. Robinson___________________
Name:Michael P. Robinson
Title:Vice President

6

 

	

	
CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender

By:/s/ Megan Kane_____________________
Name:Megan Kane
Title:Authorized Signatory

By:/s/ Christopher Zybrick____________________
Name:Christopher Zybrick
Title:Authorized Signatory

 

7

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