Document:

Exhibit 10.11

 

INVESTMENT AGREEMENT

 

THIS INVESTMENT AGREEMENT (this “Agreement”),
dated as of August [●], 2021, is by and among (i) UTXO Acquisition Inc., a Delaware corporation (the “SPAC”),
(ii) UTXO Vector LLC, a Delaware limited liability company (the “Sponsor”), and (iii) [●] (“Investor”).

 

WHEREAS, in connection with the initial public
offering (the “IPO”) of units of the SPAC, Investor has expressed an interest in acquiring up to 495,000 units in the
IPO, which shall not exceed 9.9% of the total outstanding shares of Class A common stock, par value $0.0001 per share (the “Class
A Common Stock”), underlying the units (not including the over-allotment option) (the “IPO Indication”),
at a price of $10.00 per unit.

 

WHEREAS, the parties wish to enter into this Agreement
pursuant to which Investor will purchase from the Sponsor Class B common stock, par value $0.0001 per share, of the SPAC (the “Founder
Shares”) for the same value paid by the Sponsor, or approximately $0.017 per share.

 

WHEREAS, the SPAC
is offering 5,000,000 of its units. Each unit has an offering price of $10.00 and consists of one share of the Class A common stock, par
value of $0.0001, one right and one redeemable warrant. Each right entitles the holder thereof to receive one-tenth (1/10) of one share
of Class A common stock upon consummation of the initial business combination. Each warrant entitles the holder thereof to purchase one
share of Class A common stock at a price of $11.50 per share, subject to adjustment, and will expire four years after the completion of
the initial business combination or earlier upon redemption or liquidation. Of the net proceeds the SPAC will receive from the IPO and
the sale of the private placement units, $50,750,000 ($10.15 per unit), or $58,362,500 ($10.15 per unit) if the underwriters’ over-allotment
option is exercised in full, will be deposited into a segregated trust account located in the United States with Continental Stock Transfer
& Trust Company acting as trustee. 

 

WHEREAS, the SPAC will have until 12 months from
the closing of the IPO to consummate an initial business combination. However, if the SPAC anticipates that it may not be able to consummate
the initial business combination within 12 months, it may extend the period of time to consummate a business combination up to two times,
each by an additional three months (for a total of up to 18 months to complete a business combination).

 

NOW THEREFORE, the parties hereto hereby agree
as follows:

 

Section 1. Sale and Purchase.

 

		(a)	In connection with the IPO Indication, and subject to the satisfaction of the conditions set forth in Section 1(b), the Sponsor
hereby agrees to sell to Investor 50,000 Founder Shares (such shares, the “Transferred Shares”) for an aggregate purchase
price of $850 ($0.017 per share) (the “Transfer Price”) on the date of the closing of the IPO, and Investor hereby
agrees to purchase the Transferred Shares (the “Transfer”). Concurrently with the Transfer, in consideration for the
transfer of the Transferred Shares, Investor shall pay the Transfer Price to the Sponsor in immediately available funds by wire transfer
or other method agreed upon by the parties.

 

     

     

    

 

		(b)	Subject to (i) the fulfillment by Investor (but only to the extent actually allocated to Investor by the underwriters) of the IPO
Indication (which shall include the acquisition of 100% of the units of the SPAC allocated to Investor by the underwriters in the IPO,
which number of allocated units shall not be greater than 9.9% of the units offered in the IPO (exclusive of any units that may be issued
pursuant to the underwriters’ over-allotment option)) and (ii) Investor’s payment of the Transfer Price as contemplated by
Section 1(a) of this Agreement, the Transfer shall occur and be effective upon the closing of the IPO, automatically and without
any action of any other party hereto. The Investor shall not be required to participate in an overallotment exercise or purchase more
than 495,000 units in the IPO (9.9% of 5,000,000 units) without first having the opportunity to purchase additional Transferred Shares
in a manner proportional to any increase above 495,000 units at $0.017 per additional Transferred Shares. The Transferred Shares shall
not be reduced should the Investor be allocated less than the IPO Indication.

 

		(c)	Notwithstanding anything to the contrary herein, the number of Transferred Shares shall not be subject to share price vesting triggers,
claw-back, cut-back, reduction, mandatory repurchase, redemption or forfeiture for any reason, including (i) transfer of the Founder Shares
to any person, (ii) downsizing of the offering, (iii) failure of the underwriters to exercise their green shoe option, (iv) concessions
or “earn-out” triggers in connection with the negotiation of a Business Combination or otherwise (as defined below), (v) or
any other modification, without the Investor’s prior written consent.

 

		(d)	The obligations of Investor hereunder are subject to there being no material change in structure, terms and conditions in the capital
structure the SPAC from that set forth in the Registration Statement on Form S-1 filed with the United States Securities and Exchange
Commission on August [●], 2021 (the “Registration Statement”).

 

		(e)	In the event the IPO does not occur by October 31, 2021, this Agreement shall terminate and be of no further force and effect unless
agreed in writing by the parties hereto.

 

		(f)	Notwithstanding anything to the contrary herein or in any other agreement, Investor shall not be required to consummate the transactions
set forth above unless it shall have had an opportunity to review and comment upon any public filing to be made or proposed or required
to be made by the SPAC disclosing the transactions contemplated hereby and such disclosure is approved by the Investor in its sole and
absolute discretion.

 

Section 2. Representations
and Warranties of the SPAC. The SPAC hereby represents and warrants to Investor, as follows:

 

		(a)	The SPAC has full power and authority to execute and deliver this Agreement, to perform its obligations hereunder and to consummate
the transactions contemplated hereby.

 

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		(b)	This Agreement has been duly and validly executed and delivered by the SPAC and constitutes a legal, valid and binding obligation
of the SPAC enforceable against the SPAC in accordance with its terms.

 

		(c)	The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby and the performance of its
obligations hereunder will not materially conflict with, or result in any material violation of or default under, any agreement or other
instrument to which the SPAC is a party or by which the SPAC is bound, or any decree, order, statute, rule or regulation applicable to
the SPAC.

 

Section 3. Representations
and Warranties of the Sponsor. The Sponsor hereby represents and warrants to Investor, as follows:

 

		(a)	The Sponsor has full power and authority to execute and deliver this Agreement, to perform its obligations hereunder and to consummate
the transactions contemplated hereby.

 

		(b)	This Agreement has been duly and validly executed and delivered by the Sponsor and constitutes a legal, valid and binding obligation
of the Sponsor enforceable against the Sponsor in accordance with its terms.

 

		(c)	The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby and the performance of its
obligations hereunder will not materially conflict with, or result in any material violation of or default under, any agreement or other
instrument to which the Sponsor is a party or by which the Sponsor is bound, or any decree, order, statute, rule or regulation applicable
to the Sponsor.

 

		(d)	The terms set forth in this Agreement are as favorable to the Investor as the terms granted to all other investors entering into a
similar agreement to purchase Founder Shares of the SPAC in connection with expressing interest in the IPO, provided that the Investor
acknowledges that Founders Shares have been offered to the Sponsor, executive officers, advisors, directors and director nominees of the
SPAC in connection with their service and the Sponsor expressly reserves the right to issue membership interests in the Sponsor its sole
discretion.

 

Section 4. Representations
and Warranties of Investor. Investor hereby represents and warrants to the SPAC and the Sponsor, as follows:

 

		(a)	Investor has full power and authority to execute and deliver this Agreement and to perform its obligations hereunder.

 

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		(b)	This Agreement has been duly and validly executed and delivered by Investor and constitutes a legal, valid and binding obligation
of Investor enforceable against Investor in accordance with its terms.

 

		(c)	The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby and the performance of its
obligations hereunder will not materially conflict with, or result in any material violation of or default under, any agreement or other
instrument to which Investor is a party or by which Investor is bound, or any decree, order, statute, rule or regulation applicable to
Investor.

 

		(d)	Investor is an “accredited investor” as that term is defined in Regulation D promulgated under the Securities Act of 1933,
as amended.

 

Section 5. Additional Agreements and Acknowledgements
of Investor.

 

		(a)	Without written consent of the SPAC and Sponsor, the Investor agrees not to transfer, assign or sell any Transferred Shares or the
Class A Common Stock issuable upon conversion of the Transferred Shares held by it, (1) with respect to 50% of the Transferred Shares,
until the earlier of six months after the date of the consummation of the initial business combination and the date on which the closing
price of the shares of common stock equals or exceeds $12.50 per share (as adjusted for share splits, share capitalizations, reorganizations,
recapitalizations, and the like) for any 20 trading days within any 30-trading day period commencing after the initial business combination
and (2) with respect to the remaining 50% of the Transferred Shares, six months after the date of the consummation of the initial business
combination, or earlier, in either case, if, subsequent to our initial business combination, the SPAC consummates a liquidation, merger,
share exchange or other similar transaction which results in all of the stockholders having the right to exchange their shares for cash,
securities or other property. The Transferred Shares will not be subject to additional lock ups, besides what is stated in this Section
5(a) and any restriction in the registration statement.

 

For the avoidance of doubt, this Section
5 shall not restrict the Investor from transferring, assigning or selling any Class A Common Stock, warrants or units acquired in the
IPO or in the open market or any security into which such security may be converted, transferred or exchanged.

 

		(b)	Investor acknowledges that the SPAC was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase,
reorganization or similar business combination with one or more businesses or entities (a “Business Combination”).
Investor agrees that if the SPAC seeks shareholder approval of a proposed Business Combination, then in connection with such proposed
Business Combination, Investor shall vote all Founder Shares in favor of such proposed Business Combination. Notwithstanding the foregoing,
nothing shall prevent the Investor from seeking redemption for any shares of Class A Common Stock it acquires in the IPO or in the open
market in accordance with the terms and conditions applicable to the shares of Class A Common Stock and the IPO described in the Registration Statement or otherwise operate as a waiver of any rights held by the Investor in respect of securities of the Company other than with respect to the Transferred Shares, including, for the avoidance of doubt, any claims the Investor may have against the Trust Account in respect of any other shares of Class A Common Stock Investor may have purchased or may later purchase in any transaction other than as described in this Agreement.

 

		(c)	Investor acknowledges that it is aware the SPAC will establish a trust account (the “Trust Account”) for the benefit
of its public shareholders upon the closing of the IPO. Investor agrees that it has no right, title, interest or claim of any kind in
or to any monies held in the Trust Account, or any other asset of the SPAC as a result of any liquidation of the SPAC with respect to
the Transferred Shares.

 

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		(d)	In connection with the IPO, the SPAC shall enter into a registration rights agreement in substantially the form attached hereto as
Exhibit A (the “Registration Rights Agreement”) with the Sponsor, Investor and certain other parties thereto
in the form filed as an exhibit to the SPAC’s Registration Statement. The Registration Rights Agreement shall provide Investor with
registration rights with respect to the Transferred Shares that are no less favorable to Investor than the registration rights of the
Sponsor set forth therein.

 

Section 6. Miscellaneous.

 

		(a)	Any notice or communication under this Agreement shall be in writing and given by (i) deposit in the United States mail, addressed
to the party to be notified, postage prepaid and registered or certified with return receipt requested, (ii) recognized courier or overnight
delivery service providing evidence of delivery, or (iii) transmission by hand delivery, electronic mail or facsimile, if to the Sponsor,
to: UTXO Vector LLC, 201 N LaSalle ST, #2100, Chicago, IL 60601; if to the SPAC, to: UTXO Acquisition Inc., 201 N LaSalle ST, #2100, Chicago,
IL 60601and, if to the Investor, at the Investor’s address or contact information as set forth on the signature page attached hereto.

 

		(b)	This Agreement shall be governed by the internal laws (and not the law of conflicts) of the State of New York.

 

		(c)	This Agreement may not be amended, modified or waived without the written consent of the parties hereto.

 

		(d)	The rights and obligations under this Agreement may not be assigned by any party hereto without the prior written consent of the other
parties.

 

		(e)	From time to time, at the reasonable request of any of the other parties hereto, each party hereto shall execute and deliver such
additional documents and instruments and take such further lawful action as may be necessary to consummate and make effective, in the
most expeditious manner practicable, the transactions contemplated by this Agreement.

 

		(f)	Any term or provision of this Agreement which is invalid or unenforceable shall be ineffective to the extent of such invalidity or
unenforceability without rendering invalid or unenforceable the remaining rights of the person intended to be benefited by such provision
or any other provisions of this Agreement.

 

		(g)	This Agreement may be executed in two or more counterparts, each of which shall constitute an original, and all of which taken together
shall constitute one and the same instrument. Any signature page delivered by a facsimile machine or electronic mail shall be binding
to the same extent as an original signature page.

 

		(h)	For the avoidance of doubt, this Agreement shall not cause the Investor to become a member of, or otherwise own any interest in, the
Sponsor, or otherwise become subject to the Sponsor’s organizational documents.

 

* * * * *

 

[Signature page follows]

 

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IN WITNESS WHEREOF, the undersigned have executed
this Agreement as of the date first written above.

 

	 	INVESTOR:
	 	 
	 	[●]	 
	 	 	 
	 	By:	                
	 	Name:  	[●]
	 	Title:	[●]
	 	 	 
	 	 	Address:
	 	 	 
	 	 	Phone: 
	 	 	 
	 	 	Email:

 

	 	SPAC:
	 	 
	 	UTXO Acquisition Inc.
	 	 
	 	By:	                 
	 	Name:	 
	 	Title:	 

 

	 	SPONSOR:
	 	 
	 	UTXO Vector LLC
	 	 
	 	By: 
	 	 
	 	By:	                 
	 	Name:	 
	 	Title:	 

 

[Signature Page to Investment Agreement]ex_275834.htm

Exhibit 10.113

 

 

THE EXCHANGE CONTEMPLATED HEREIN IS INTENDED TO COMPORT WITH THE REQUIREMENTS OF SECTION 3(a)(9) OF THE SECURITIES ACT OF 1933, AS AMENDED.

 

EXCHANGE AGREEMENT

 

 

This Exchange Agreement (this “Agreement”) is entered into as of July 20, 2021 by and between Streeterville Capital, LLC, a Utah limited liability company (“Lender”), and Orbital Energy Group, Inc., a Colorado corporation (“Borrower”). Capitalized terms used in this Agreement without definition shall have the meanings given to them in the Original Note (as defined below).

 

A.    Borrower previously sold and issued to Lender that certain Amended and Restated Promissory Note dated November 12, 2020 in the original principal amount of $2,215,000.00 (the “Original Note”) pursuant to that certain Securities Purchase Agreement dated November 12, 2020 by and between Lender and Borrower (the “Purchase Agreement,” and together with the Original Note and all other documents entered into in conjunction therewith, the “Transaction Documents”).

 

B.    Subject to the terms of this Agreement, Borrower and Lender desire to partition a new Amended and Restated Promissory Note in the form of the Original Note (the “Partitioned Note”) in the original principal amount of $1,000,000.00 (the “Exchange Amount”) from the Original Note and then cause the outstanding balance of the Original Note to be reduced by an amount equal to the Exchange Amount, which represents the total outstanding balance of the Partitioned Note.

 

C.    Borrower and Lender desire to exchange (such exchange is referred to as the “Exchange”) the Partitioned Note for 248,509 shares of Borrower’s Common Stock, par value

$0.001 (the “Common Stock,” and such 248,509 shares of Common Stock, the “Exchange Shares”), according to the terms and conditions of this Agreement.

 

D.    The Exchange will consist of Lender surrendering the Partitioned Note in exchange for the Exchange Shares, which will be issued free of any restrictive securities legend.

 

E.    Other than the surrender of the Partitioned Note, no consideration of any kind whatsoever shall be given by Lender to Borrower in connection with this Agreement.

 

F.    Lender and Borrower now desire to exchange the Partitioned Note for the Exchange Shares on the terms and conditions set forth herein.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1.    Recitals and Definitions. Each of the parties hereto acknowledges and agrees that the recitals set forth above in this Agreement are true and accurate, are contractual in nature, and are hereby incorporated into and made a part of this Agreement.

 

 

 

 

2.    Partition. Effective as of the date hereof, Borrower and Lender agree that the Partitioned Note is hereby partitioned from the Original Note. Following such partition of the Original Note, Borrower and Lender agree that the Original Note shall remain in full force and effect, provided that the outstanding balance of the Original Note shall be reduced by an amount equal to the Exchange Amount.

 

 

3.    Issuance of Shares. Pursuant to the terms and conditions of this Agreement, the Exchange Shares shall be delivered to Lender on or before July 22, 2021 and the Exchange shall occur with Lender surrendering the Partitioned Note to Borrower on the Free Trading Date (as defined below). On the Free Trading Date, the Partitioned Note shall be cancelled and all obligations of Borrower under the Partitioned Note shall be deemed fulfilled. All Exchange Shares delivered hereunder shall be delivered via DWAC to Lender’s designated brokerage account. Borrower agrees to provide all necessary cooperation or assistance that may be required to cause all Exchange Shares delivered hereunder to become Free Trading (the first date on which all Exchange Shares become Free Trading, the “Free Trading Date”). For purposes hereof, the term “Free Trading” means that (a) the Exchange Shares have been cleared and approved for public resale by the compliance departments of Lender’s brokerage firm and the clearing firm servicing such brokerage, and (b) such shares are held in the name of the clearing firm servicing Lender’s brokerage firm and have been deposited into such clearing firm’s account for the benefit of Lender.

 

4.    Closing. The closing of the transaction contemplated hereby (the “Closing”) along with the delivery of the Exchange Shares to Lender shall occur on the date that is mutually agreed to by Borrower and Lender by means of the exchange by express courier or email of .pdf documents, but shall be deemed to have occurred at the offices of Hansen Black Anderson Ashcraft PLLC in Lehi, Utah.

 

5.    Holding Period, Tacking and Legal Opinion. Borrower represents, warrants and agrees that for the purposes of Rule 144 (“Rule 144”) of the Securities Act of 1933, as amended (the “Securities Act”), the holding period of the Partitioned Note and the Exchange Shares will include Lender’s holding period of the Original Note from November 12, 2020. Borrower agrees not to take a position contrary to this Section 4 in any document, statement, setting, or situation. Borrower agrees to take all action necessary to issue the Exchange Shares without restriction, and not containing any restrictive legend without the need for any action by Lender; provided that the applicable holding period has been met. In furtherance thereof, prior to the Closing, counsel to Lender may, in its sole discretion, provide an opinion that: (a) the Exchange Shares may be resold pursuant to Rule 144 without volume or manner-of-sale restrictions; and (b) the transactions contemplated hereby and all other documents associated with this transaction comport with the requirements of Section 3(a)(9) of the Securities Act. Borrower represents that it is not subject to Rule 144(i). The Exchange Shares are being issued in substitution of and exchange for and not in satisfaction of the Partitioned Note. The Exchange Shares shall not constitute a novation or satisfaction and accord of the Partitioned Note. Borrower acknowledges and understands that the representations and agreements of Borrower in this Section 4 are a material inducement to Lender’s decision to consummate the transactions contemplated herein.

 

6.    Borrower’s Representations, Warranties and Agreements. In order to induce Lender to enter into this Agreement, Borrower, for itself, and for its affiliates, successors and assigns, hereby acknowledges, represents, warrants and agrees as follows: (a) Borrower has full

 

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power and authority to enter into this Agreement and to incur and perform all obligations and covenants contained herein, all of which have been duly authorized by all proper and necessary action, (b) no consent, approval, filing or registration with or notice to any governmental authority is required as a condition to the validity of this Agreement or the performance of any of the obligations of Borrower hereunder, (c) no Event of Default has occurred under the Original Note and any Events of Default that may have occurred thereunder have not been, and are not hereby, waived by Lender, (d) except as specifically set forth herein, nothing herein shall in any manner release, lessen, modify or otherwise affect Borrower’s obligations under the Original Note, (e) the issuance of the Exchange Shares is duly authorized by all necessary corporate action and the Exchange Shares are validly issued, fully paid and non-assessable, free and clear of all taxes, liens, claims, pledges, mortgages, restrictions, obligations, security interests and encumbrances of any kind, nature and description, (f) Borrower has not received any consideration in any form whatsoever for entering into this Agreement, other than the surrender of the Partitioned Note, and

 

(g) Borrower has taken no action which would give rise to any claim by any person for a brokerage commission, placement agent or finder’s fee or other similar payment by Borrower related to this Agreement.

 

7.    Lender’s Representations, Warranties and Agreements. In order to induce Borrower to enter into this Agreement, Lender, for itself, and for its affiliates, successors and assigns, hereby acknowledges, represents, warrants and agrees as follows: (a) Lender has full power and authority to enter into this Agreement and to incur and perform all obligations and covenants contained herein, all of which have been duly authorized by all proper and necessary action, (b) no consent, approval, filing or registration with or notice to any governmental authority is required as a condition to the validity of this Agreement or the performance of any of the obligations of Lender hereunder, and (c) Lender has taken no action which would give rise to any claim by any person for a brokerage commission, placement agent or finder’s fee or other similar payment by Borrower related to this Agreement.

 

8.    Ownership Limitation. Notwithstanding anything to the contrary contained in this Agreement, Borrower shall not deliver Exchange Shares in an amount that would cause Lender (together with its affiliates) to beneficially own a number of shares exceeding 9.99% of the number of shares of Common Stock outstanding on such date (including for such purpose the Common Stock issuable upon such issuance) (the “Maximum Percentage”). For purposes of this section, beneficial ownership of Common Stock will be determined pursuant to Section 13(d) of the 1934 Act. By written notice to Borrower, Lender may increase, decrease or waive the Maximum Percentage as to itself but any such waiver will not be effective until the 61st day after delivery thereof. The foregoing 61-day notice requirement is enforceable, unconditional and non-waivable and shall apply to all affiliates and assigns of Lender.

 

9.    Governing Law; Venue. This Agreement shall be construed and enforced in accordance with, and all questions concerning the construction, validity, interpretation and performance of this Agreement shall be governed by, the internal laws of the State of Utah, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Utah or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than the State of Utah. The provisions set forth in the Purchase Agreement to determine the proper venue for any disputes are incorporated herein by this reference. BORROWER HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST,

 

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A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

10.    Arbitration of Claims. This Agreement shall be subject to the arbitration of claims provisions set forth in Section 9.1 of the Purchase Agreement.

 

11.    Counterparts. This Agreement may be executed in any number of counterparts with the same effect as if all signing parties had signed the same document. All counterparts shall be construed together and constitute the same instrument. The exchange of copies of this Agreement and of signature pages by facsimile transmission or other electronic transmission (including email) shall constitute effective execution and delivery of this Agreement as to the parties and may be used in lieu of the original Agreement for all purposes. Signatures of the parties transmitted by facsimile transmission or other electronic transmission (including email) shall be deemed to be their original signatures for all purposes.

 

12.    Attorneys’ Fees. In the event of any action at law or in equity to enforce or interpret the terms of this Agreement, the parties agree that the party who is awarded the most money shall be deemed the prevailing party for all purposes and shall therefore be entitled to an additional award of the full amount of the attorneys’ fees and expenses paid by such prevailing party in connection with the litigation and/or dispute without reduction or apportionment based upon the individual claims or defenses giving rise to the fees and expenses. Nothing herein shall restrict or impair a court’s power to award fees and expenses for frivolous or bad faith pleading.

 

13.    No Reliance. Borrower acknowledges and agrees that neither Lender nor any of its officers, directors, members, managers, equity holders, representatives or agents has made any representations or warranties to Borrower or any of its agents, representatives, officers, directors, or employees except as expressly set forth in this Agreement and the Transaction Documents and, in making its decision to enter into the transactions contemplated by this Agreement, Borrower is not relying on any representation, warranty, covenant or promise of Lender or its officers, directors, members, managers, equity holders, agents or representatives other than as set forth in this Agreement.

 

 

14.    Severability. If any part of this Agreement is construed to be in violation of any law, such part shall be modified to achieve the objective of the parties to the fullest extent permitted and the balance of this Agreement shall remain in full force and effect.

 

 

15.    Entire Agreement. This Agreement, together with the Transaction Documents, and all other documents referred to herein, supersedes all other prior oral or written agreements between Borrower, Lender, its affiliates and persons acting on its behalf with respect to the matters discussed herein, and this Agreement and the instruments referenced herein contain the entire understanding of the parties with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither Lender nor Borrower makes any representation, warranty, covenant or undertaking with respect to such matters.

 

16.    Amendments. This Agreement may be amended, modified, or supplemented only by written agreement of the parties. No provision of this Agreement may be waived except in writing signed by the party against whom such waiver is sought to be enforced.

 

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17.    Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and assigns. This Agreement or any of the severable rights and obligations inuring to the benefit of or to be performed by Lender hereunder may be assigned by Lender to a third party, including its financing sources, in whole or in part. Borrower may not assign this Agreement or any of its obligations herein without the prior written consent of Lender.

 

 

18.    Continuing Enforceability; Conflict Between Documents. Except as otherwise modified by this Agreement, the Original Note and each of the other Transaction Documents shall remain in full force and effect, enforceable in accordance with all of its original terms and provisions. This Agreement shall not be effective or binding unless and until it is fully executed and delivered by Lender and Borrower. If there is any conflict between the terms of this Agreement, on the one hand, and the Original Note or any other Transaction Document, on the other hand, the terms of this Agreement shall prevail.

 

19.    Time of Essence. Time is of the essence with respect to each and every provision of this Agreement.

 

20.    Notices. Unless otherwise specifically provided for herein, all notices, demands or requests required or permitted under this Agreement to be given to Borrower or Lender shall be given as set forth in the “Notices” section of the Purchase Agreement.

 

21.    Further Assurances. Each party shall do and perform or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

[Remainder of page intentionally left blank]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first set forth above.

 

 

BORROWER:

 

 

ORBITAL ENERGY GROUP, INC.

 

 

By:         /s/ William Clough          William Clough, Executive Chairman

 

 

LENDER:

 

STREETERVILLE CAPITAL, LLC

 

 

By:         /s/ John M. Fife          John M. Fife, President

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