Document:

Exhibit 10.5

 

PURCHASE AND ESCROW AGREEMENT

 

THIS PURCHASE AND ESCROW
AGREEMENT (the “Agreement”) is dated as of September 11, 2017 among SkyBridge Ventures LLC maintaining an address at
2081 Homecrest Avenue, Brooklyn, NY 11229 (“Seller”), Eagle Equities, LLC maintaining an address at 91 Shelton Avenue,
Suite 107, New Haven, CT 06511 (the “Purchaser”), Nightfood Holdings Inc., a Nevada corporation maintaining an address
at 520 White Plains Road, Suite 500 Tarrytown, NY 10591 (the (“Company”) and Grushko & Mittman, P.C. maintaining
an address at 515 Rockaway Avenue, Valley Stream, NY 11581 Fax: (212) 697–3575 (“Escrow Agent” together with
Seller, Purchaser, and Company each a “Party” and collectively the “Parties”).

 

WHEREAS, the Seller
is the holder of securities issued by the Company including a note dated June 30, 2017 in the principal amount of $95,000 (the
“Note”).

 

WHEREAS, the was acquired
by the Seller from Black Forest Capital LLC pursuant to an Assignment Agreement dated June 30, 2017 and an Acknowledgement thereof
executed by the Company pursuant to which the Company exchanged the note issued to Black Forest Capital LLC for the Note.

 

WHEREAS, the Purchaser
desires to purchase the Note from the Seller, and the Seller desires to sell the Note to the Purchaser on the terms set forth in
this Agreement.

 

NOW, THEREFORE, IN
CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and
adequacy of which are hereby acknowledged, the Seller and the Purchaser agree as follows:

 

ARTICLE I

PURCHASE AND SALE

 

1.1.       The
Sale.

 

a)       Subject
to the terms and conditions set forth in this Agreement, Seller shall sell to the Purchaser and the Purchaser shall purchase from
the Seller the Note for a purchase price of $95,000.00 (“Purchase Price”). Additionally, the Company shall pay the
Seller $31,519.86 (“Company Payment”) to release any claims it has regarding the Note, provided this release does not
release the Company from any obligations to the Purchaser arising from the Note.

 

b)       The
sale shall only be effective upon the occurrence of the following conditions:

 

		(i)	The Purchaser acquires the note dated March 20, 2017 in the original principal amount of $80,000
issued by the Company to Auctus Fund, LLC; and

 

		(ii)	The Company retires the note dated March 16, 2017 in the original principal amount of $75,000 issued
by the Company to EMA Financial, LLC

 

    	 	1	 

     

    

 

1.2.       Deliveries.
The parties shall deliver or shall cause to be delivered the following:

 

(a)       The
Purchaser will deliver the Purchase Price and the Company will deliver the Company payment to the Escrow Agent pursuant to the
following wire instructions:

 

TD Bank

516 East Central Avenue

Cedarhurst, NY 11516

ABA Number: 026013673

For Credit to: Grushko & Mittman P.C., IOLA Trust
Account

Account Number: 4329260163

 

(b)       Within
one (1) business days, after the Escrow Agent’s release of the Purchase Price and Company Payment to the Seller, the Seller
shall deliver to the Purchaser and Company a PDF copy of the receipt (the “Receipt”) annexed hereto as Exhibit A.

 

1.3.       Conflict
Waiver. Grushko & Mittman, P.C., shall act as escrow agent in this transaction in addition to acting as legal counsel to
Seller. Grushko & Mittman, P.C. has previously represented an affiliate of the Purchaser in an unrelated manner but is only
representing the Seller in this transaction. Seller and Purchaser hereby acknowledge that they have been advised of a potential
conflict of interest and each acknowledges this conflict of interest and agrees that Grushko & Mittman, P.C. may act as escrow
agent and counsel for the Seller in this transaction.

 

ARTICLE II

REPRESENTATIONS AND WARRANTIES

 

2.1.       Representations
and Warranties of the Seller. Seller hereby makes the following representations and warranties to the Purchaser:

 

(a)       The
Seller has full power and authority to enter into this Agreement and to consummate the transaction. This Agreement has been duly
and validly executed and delivered by the Seller and constitutes the legal, valid and binding obligation of the Seller, enforceable
in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, moratorium, reorganization
or similar laws from time to time in effect that affect creditors’ rights generally, and by legal and equitable limitations
on the availability of specific remedies.

 

(b)       The
execution, delivery and performance by the Seller of this Agreement and consummation by the Seller of the transaction does not
and will not: (i) if the Seller is an entity, violate the organizational documents of the Seller, (ii) violate any decree or judgment
of any court or other governmental authority applicable to or binding on the Seller; (iii) violate any provision of any federal
or state statute, rule or regulation which is, to the Seller’s knowledge, applicable to the Seller; or (iv) violate any contract
to which the Seller or any of its assets or properties are bound, or conflict with, or constitute a default (or an event which
with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration
or cancellation of , any agreement, indenture or instrument to which the Seller is a party. No consent or approval of, or filing
with, any governmental authority or other person not a Party hereto is required for the execution, delivery and performance by
the Seller of this Agreement or the consummation of this transaction.

 

(c)       With
respect to the sale of the Note the Seller has not pledged or otherwise encumbered the Note.

 

(d)       The
Seller (i) is a sophisticated person with respect to the sale of the Note; (ii) has adequate information concerning the business
and financial condition of the issuer to make an informed decision regarding the sale of the Note; and (c) has independently and
without reliance upon the Purchaser, and based on such information as the Seller has deemed appropriate, made its own analysis
and decision to enter into this Agreement, except that the Seller has relied upon the Purchaser’s express representations,
warranties and covenants in this Agreement. The Seller acknowledges that the Purchaser has not given the Seller any investment
advice, credit information or opinion on whether the sale of the Note is prudent.

 

    	 	2	 

     

    

 

(e)       There
are no outstanding rights, options, subscriptions or other agreements or commitments obligating the Seller with respect to the
Note.

 

(f)       The
Seller is not now and has not been for the previous 91 days an affiliate of the Company as defined pursuant to Rule 144.

 

2.2       Representations
and Warranties of the Purchaser. Purchaser hereby represents, warrants and agrees as of the date hereof:

 

(a)       Purchaser
has full power and authority to enter into this Agreement and to consummate the transaction. This Agreement has been duly and validly
executed and delivered by Purchaser and constitutes the legal, valid and binding obligation of Purchaser, enforceable in accordance
with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or
similar laws in effect that affect the enforcement of creditors’ rights generally and by equitable limitations on the availability
of specific remedies.

 

(b)       The
execution, delivery and performance by Purchaser of this Agreement and consummation by Purchaser of the transaction does not and
will not: (i) violate any decree or judgment of any court or other governmental authority applicable to or binding on Purchaser;
(ii) violate any provision of any federal or state statute, rule or regulation which is, to Purchaser’s knowledge, applicable
to the Purchaser; or (iii) violate any contract to which Purchaser is a party or by which Purchaser or any of its respective assets
or properties are bound. No consent or approval of, or filing with, any governmental authority or other person not a Party hereto
is required for the execution, delivery and performance by Purchaser of this Agreement or the consummation of the transaction.

 

(c)       Purchaser
is an “accredited investor” and is aware that the Note are subject to restrictions on transfer pursuant to the Securities
Act.

 

(d)       The
Purchaser is acquiring the Note for its own account and not with a view towards, or for resale in connection with, the public sale
or distribution thereof, except pursuant to sales registered or exempted under the Note Act; provided, however, that by making
the representations herein, such Purchaser does not agree to hold the Note for any minimum or other specific term and reserves
the right to dispose of the Note at any time in accordance with or pursuant to a registration statement or an exemption under the
Securities Act.

 

(e)Purchaser is aware
of the Company’s business affairs and financial condition, and has acquired sufficient information about the issuer to reach
an informed and knowledgeable decision to acquire the Note. 

 

(f)       Purchaser
has taken no action that would give rise to any claim by any person for brokerage commissions, finder’s fees or similar payments
relating to this Agreement or the transactions contemplated hereby.

 

2.3       Representations
and Warranties of the Company. Company hereby represents, warrants and agrees as of the date hereof:

 

(a)       The
Company consents to the Seller’s sale, assignment, conveyance, and transfer of the Note to the Purchaser provided for herein.

 

    	 	3	 

     

    

 

(b)       The
Company has the requisite power and authority to enter into and to consummate the transactions contemplated by this transaction
and otherwise to carry out its obligations thereunder. The execution and delivery of each of the documents by the Company and the
consummation by it of the transactions contemplated hereby have been duly authorized. Each of the documents contemplated by this
transaction has been duly executed by the Company and, when delivered in accordance with the terms hereof, will constitute the
valid and binding obligation of the Company enforceable against the Company in accordance with its terms.

 

(c)       Neither
the execution and delivery of this Agreement by the Company, nor the consummation by the Company of the transactions contemplated
hereby, will (i) require any consent, approval, authorization or permit of, or filing, registration or qualification with or prior
notification to, any governmental or regulatory authority under any law of the United States, any state or any political subdivision
thereof applicable to the Company, (ii) violate any statute, law, ordinance, rule or regulation of the United States, any state
or any political subdivision thereof, or any judgment, order, writ, decree or injunction applicable to the Company or any of the
Company’s properties or assets, the violation of which would have a material adverse effect upon the Company, or (iii) violate,
conflict with, or result in a breach of any provisions of, or constitute a default (or any event which, with or without due notice
or lapse of time, or both, would constitute a default) under, or result in the termination of, or accelerate the performance required
by, any of the terms, conditions or provisions of any note, bond, mortgage, indenture, deed of trust, license, lease, agreement
or other instrument or obligation to which the Company is a party or by which the Company or any of the Company’s properties
or assets may be bound which would have a material adverse effect upon the Company.

 

(d)       The
Company hereby represents and warrants that to its knowledge there are no defenses to the payment of the note principal or any
other sum that has or may accrue or be payable pursuant to the Note or the documents delivered together therewith or related thereto.

 

(e)       The
Company acknowledges that for Rule 144 purposes the Purchaser’s holding period of the Note tacks back to the date the original
note was issued to Black Forest Capital LLC.

 

ARTICLE III

RELEASE OF ESCROW

 

3.1.       Release
of Escrow.

 

(a)       Subject
to the provisions of Section 4.2, upon the full execution of this agreement and the Escrow Agent’s receipt written confirmation
from the Company and Purchaser that the conditions set forth in Section 1.1(b) have been satisfied, the Escrow Agent shall release
the Purchase Price and Company Payment to the Seller pursuant to wire instructions provided by the Seller.

 

(b)Notwithstanding
the above, upon receipt by the Escrow Agent of joint written instructions (“Joint Instructions”) signed by the Parties,
it shall deliver the Purchase Price and Company Payment in accordance with the terms of the
Joint Instructions.

 

(c)       Notwithstanding
the above, upon receipt by the Escrow Agent of a final and non-appealable judgment, order, decree or award of a court of competent
jurisdiction directing delivery of Purchase Price and Company Payment (a “Court Order”),
the Escrow Agent shall deliver the Purchase Price and Company Payment in accordance with such
Court Order. Any Court Order shall be accompanied by an opinion of counsel for the Party presenting the Court Order to the Escrow
Agent (which opinion shall be satisfactory to the Escrow Agent) to the effect that the court issuing the Court Order has competent
jurisdiction and that the Court Order is final and non-appealable.

 

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3.2.       Acknowledgement
of Parties; Disputes. The Parties acknowledge that the only terms and conditions upon which the Purchase Price and Company
Payment is to be released are set forth in Articles 3 and 4 of this Agreement. The Parties reaffirm
their agreement to abide by the terms and conditions of this Agreement with respect to the release of the Purchase Price
and Company Payment. Any dispute with respect to the release of the Purchase Price and Company
Payment shall be resolved pursuant to Section 4.2 or by agreement between the Parties.

 

ARTICLE IV

CONCERNING THE ESCROW AGENT

 

4.1.       Duties
and Responsibilities of the Escrow Agent. The Escrow Agent’s duties and responsibilities shall be subject to the following
terms and conditions:

 

(a)       The
Parties acknowledge and agree that the Escrow Agent (i) shall not be responsible for or bound by, and shall not be required to
inquire into whether any of the Parties is entitled to receipt of the Purchase Price and Company Payment pursuant
to, any other agreement or otherwise; (ii) shall be obligated only for the performance of such duties as are specifically assumed
by the Escrow Agent pursuant to this Agreement; (iii) may rely on and shall be protected in acting or refraining from acting upon
any written notice, instruction, instrument, statement, request or document furnished to it hereunder and believed by the Escrow
Agent in good faith to be genuine and to have been signed or presented by the proper person or party, without being required to
determine the authenticity or correctness of any fact stated therein or the propriety or validity or the service thereof; (iv)
may assume that any person believed by the Escrow Agent in good faith to be authorized to give notice or make any statement or
execute any document in connection with the provisions hereof is so authorized; (v) shall not be under any duty to give the property
held by Escrow Agent hereunder any greater degree of care than Escrow Agent gives its own similar property; and (vi) may consult
counsel satisfactory to Escrow Agent, the opinion of such counsel to be full and complete authorization and protection in respect
of any action taken, suffered or omitted by Escrow Agent hereunder in good faith and in accordance with the opinion of such counsel.

 

(b)       The
Parties acknowledge that the Escrow Agent is acting solely as a stakeholder at their request and that the Escrow Agent shall not
be liable for any action taken by Escrow Agent in good faith and believed by Escrow Agent to be authorized or within the rights
or powers conferred upon Escrow Agent by this Agreement. The Company, Seller, and Purchaser, jointly and severally, agree to indemnify
and hold harmless the Escrow Agent and any of Escrow Agent’s partners, employees, agents and representatives for any action
taken or omitted to be taken by Escrow Agent or any of them hereunder, including the fees of outside counsel and other costs and
expenses of defending itself against any claim or liability under this Agreement, except in the case of gross negligence or willful
misconduct on Escrow Agent's part committed in its capacity as Escrow Agent under this Agreement. The Escrow Agent shall owe a
duty only to the Company, Seller, and Purchaser under this Agreement and to no other person.

 

(c)       The
Company, Seller, and Purchaser jointly and severally agree to reimburse the Escrow Agent for outside counsel fees, to the extent
authorized hereunder and incurred in connection with the performance of its duties and responsibilities hereunder.

 

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(d)       The
Escrow Agent may at any time resign as Escrow Agent hereunder by giving five (5) days prior written notice of resignation to the
Parties. Prior to the effective date of the resignation as specified in such notice, the Company, Seller, and Purchaser will issue
to the Escrow Agent a Joint Instruction authorizing delivery of the Purchase Price and Company Payment to
a substitute Escrow Agent selected by the Seller and Purchaser. If no successor Escrow Agent is named by the Seller and Purchaser,
the Escrow Agent may apply to a court of competent jurisdiction in the State of New York for appointment of a successor Escrow
Agent, and to deposit the Purchase Price and Company Payment with the clerk of any such court.

 

(e)       The
Escrow Agent does not have and will not have any interest in the Purchase Price and Company Payment,
but is serving only as escrow agent, having only possession thereof. The Escrow Agent shall not be liable for any loss resulting
from the making or retention of any investment in accordance with this Escrow Agreement.

 

(f)       This
Agreement sets forth exclusively the duties of the Escrow Agent with respect to any and all matters pertinent thereto and no implied
duties or obligations shall be read into this Agreement.

 

(g)       The
provisions of this Section 4.1 shall survive the resignation of the Escrow Agent or the termination of this Agreement.

 

4.2.       Dispute
Resolution: Judgments. Resolution of disputes arising under this Agreement shall be subject to the following terms and conditions:

 

(a)       If
any dispute shall arise with respect to the delivery, ownership, right of possession or disposition of the Purchase Price
and Company Payment, or if the Escrow Agent shall in good faith be uncertain as to its duties or
rights hereunder, the Escrow Agent shall be authorized, without liability to anyone, to (i) refrain from taking any action other
than to continue to hold the Purchase Price and Company Payment pending receipt of a Joint
Instruction from Company, Seller, and Purchaser, or (ii) deposit the Purchase Price and Company Payment with
any court of competent jurisdiction in the State of New York, in which event the Escrow Agent shall give written notice thereof
to the Company, Seller, and Purchaser and shall thereupon be relieved and discharged from all further obligations pursuant to this
Agreement. The Escrow Agent may, but shall be under no duty to, institute or defend any legal proceedings which relate to the Purchase
Price and Company Payment. The Escrow Agent shall have the right to retain counsel if it becomes
involved in any disagreement, dispute or litigation on account of this Agreement or otherwise determines that it is necessary to
consult counsel.

 

(b)       The
Escrow Agent is hereby expressly authorized to comply with and obey any Court Order. In case the Escrow Agent obeys or complies
with a Court Order, the Escrow Agent shall not be liable to the Parties or to any other person, firm, corporation or entity by
reason of such compliance.

 

ARTICLE V

MISCELLANEOUS

 

5.1       Entire
Agreement; Amendments. The Agreement contains the entire understanding of the parties with respect to the subject matter hereof
and supersedes all prior agreements and understandings, oral or written, with respect to such matters, which the parties acknowledge
have been merged into such documents, exhibits and schedules.

 

5.2       Amendments;
Waivers. No provision of this Agreement may be waived or amended except in a written instrument signed, in the case of an amendment,
by the Company, Seller, Purchaser, and Escrow Agent or, in the case of a waiver, by the Party against whom enforcement of any such
waiver is sought. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed
to be a continuing waiver in the future or a waiver of any other provision, condition or requirement hereof, nor shall any delay
or omission of either Party to exercise any right hereunder in any manner impair the exercise of any such right accruing to it
thereafter.

 

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5.3       Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted
assigns.

 

5.4       No
Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors
and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

5.5       Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed
by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of
conflicts of law thereof. Each Party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting
in New York County, New York for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated
hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim
that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper. Each
Party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding
by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery). Nothing contained
herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. Each Party irrevocably waives,
to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or
relating to this Agreement or the transactions contemplated hereby. If either Party shall commence an action or proceeding to enforce
any provisions of the documents contemplated herein, then the prevailing Party in such action or proceeding shall be reimbursed
by the other Party for its attorneys’ fees and other costs and expenses incurred with the investigation, preparation and
prosecution of such action or proceeding.

 

5.6       Survival.
The representations, warranties, agreements and covenants contained herein shall survive the Closing.

 

5.7       Execution.
This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each Party and delivered to the other Party, it being
understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile or other
electronic transmission, such signature shall create a valid and binding obligation of the Party executing (or on whose behalf
such signature is executed) the same with the same force and effect as if such facsimile signature page were an original thereof.

 

5.8       Severability.
In case any one or more of the provisions of this Agreement shall be invalid or unenforceable in any respect, the validity and
enforceability of the remaining terms and provisions of this Agreement shall not in any way be affecting or impaired thereby and
the parties will attempt to agree upon a valid and enforceable provision which shall be a reasonable substitute therefore, and
upon so agreeing, shall incorporate such substitute provision in this Agreement.

 

[REST OF THIS PAGE LEFT INTENTIONALLY BLANK]

 

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IN WITNESS WHEREOF,
the parties hereto have caused this Purchase and Escrow Agreement to be duly executed by their respective authorized signatories
as of the date first indicated above.

 

SELLER:

 

SkyBridge Ventures LLC

 

	/s/	 	 
	By:	 	 
	Its:	 	 

 

PURCHASER:

 

Eagle Equities, LLC

 

	/s/	 	 
	By:	 	 
	Its:	 	 

 

COMPANY:

 

Nightfood Holdings Inc.

 

	/s/	 	 
	By:	 	 
	Its:	 	 

 

ESCROW AGENT:

 

Grushko & Mittman, P.C.

 

	/s/	 	 

 

[Schedules and Exhibits on the following
pages]

 

    	 	8	 

     

    

 

EXHIBIT A

 

RECEIPT

 

SkyBridge Ventures
LLC, as Seller under that certain Purchase and Escrow Agreement dated September 11, 2017, among Seller, Eagle Equities, LLC as
Purchaser, Nightfood Holdings Inc. as the Company, and Grushko & Mittman, P.C. as Escrow Agent hereby acknowledges receipt
of the Purchase and Company Payment. The Note is deemed assigned to the Purchaser as of the date hereof.

 

SELLER:

 

SkyBridge Ventures LLC

 

	/s/	 	 
	By:	Gabriel Berkowitz	 
	Its:	Authorized Signatory	 

 

Dated:

 

 

9Exhibit
10.6

 

THIS
NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER THE SECURITIES LAWS
OF CERTAIN STATES. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD
EXCEPT AS PERMITTED UNDER THE ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. LENDERS
SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE
ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT
ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

 

EAGLE
EQUITIES, LLC

COLLATERALIZED
SECURED PROMISSORY NOTE

 

	$218,750.00	New
    Haven, CT

September
8, 2017

	1.	Principal
                                         and Interest

 

FOR
VALUE RECEIVED, Eagle Equities, LLC, a Nevada Limited Liability Company (the “Company”) hereby absolutely and unconditionally
promises to pay to NightFood Holdings, Inc. (the “Lender”), or order, the principal amount of Two Hundred Eighteen
Thousand Seven Hundred Fifty Dollars ($218,750.00) no later than May 8, 2018, unless the Lender does not meet the “current
information requirements” required under Rule 144 of the Securities Act of 1933, as amended, in which case the Company may
declare the offsetting note issued by the Lender on the same date herewith to be in Default (as defined in that note) and cross
cancel its payment obligations under this Note as well as the Lenders payment obligations under the offsetting note. This Full
Recourse Note shall bear simple interest at the rate of 8%.

 

	2.	Repayments
                                         and Prepayments; Security.

 

a.       All
principal under this Note shall be due and payable no later than May 8, 2018, unless the Lender does not meet the “current
information requirements” required under Rule 144 of the Securities Act of 1933, as amended, in which case the Company may
declare the offsetting note issued by the Lender on the same date herewith to be in Default (as defined in that note) and cross
cancel its payment obligations under this Note as well as the Lenders payment obligations under the offsetting note.

 

b.       The
Company may pay this Note at any time. This note may not be assigned by the Lender, except by operation of law.

 

    	 	1	 

     

    

 

c.       This
Note shall initially be secured by the pledge of the $222,750.00 8% convertible promissory note issued to the Company by the Lender
on even date herewith (the “Lender Note”). The Company may exchange this collateral for other collateral with an
appraised value of at least $218,750.00, by providing 3 days’ prior written notice to the Lender. If the Lender does
not object to the substitution of collateral in that 3 day period, such substitution of collateral shall be deemed to have been
accepted by the Lender. Notwithstanding the foregoing, an exchange of collateral for $218,750.00 in cash shall not require
the approval of the Lender. Any collateral exchange shall not constitute a waiver of any defaults under a Lender note. All
collateral shall be retained by New Venture Attorneys, P.C., which shall act as the escrow agent for the collateral for the benefit
of the Lender. The Company may not effect any conversions under the Lender Note until it has made full cash payment for the portion
of the Lender Note being converted.

 

	3.	Events
                                         of Default; Acceleration.

 

a.       The
principal amount of this Note is subject to prepayment in whole or in part upon the occurrence and during the continuance of any
of the following events (each, an “Event of Default”): the initiation of any bankruptcy, insolvency, moratorium, receivership
or reorganization by or against the Company, or a general assignment of assets by the Company for the benefit of creditors. Upon
the occurrence of any Event of Default, the entire unpaid principal balance of this Note and all of the unpaid interest accrued
thereon shall be immediately due and payable. The Company may offset amounts due to the Lender under this Note by similar amounts
that may be due to the Company by the Lender resulting from breaches under the Lender Note.

 

b.       No
remedy herein conferred upon the Lender is intended to be exclusive of any other remedy and each and every remedy shall be cumulative
and in addition to every other remedy hereunder, now or hereafter existing at law or in equity or otherwise. The Company accepts
and agrees that this Note is a full recourse note and that the Holder may exercise any and all remedies available to it under
law.

 

	4.	Notices.

 

a.       All
notices, reports and other communications required or permitted hereunder shall be in writing and may be delivered in person,
by telecopy with written confirmation, overnight delivery service or U.S. mail, in which event it may be mailed by first-class,
certified or registered, postage prepaid, addressed (i) if to a Lender, at such Lender’s address as the Lender shall have
furnished the Company in writing and (ii) if to the Company at such address as the Company shall have furnished the Lender(s)
in writing.

 

b.       Each
such notice, report or other communication shall for all purposes under this Note be treated as effective or having been given
when delivered if delivered personally or, if sent by mail, at the earlier of its receipt or 72 hours after the same has been
deposited in a regularly maintained receptacle for the deposit of the United States mail, addressed and mailed as aforesaid, or,
if sent by electronic communication with confirmation, upon the delivery of electronic communication.

 

    2

     

    

 

	5.	Miscellaneous.

 

a.       Neither
this Note nor any provisions hereof may be changed, waived, discharged or terminated orally, but only by a signed statement in
writing.

 

b.       No
failure or delay by the Lender to exercise any right hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise of any right, power or privilege preclude any other right, power or privilege. The provisions of this Note are severable
and if any one provision hereof shall be held invalid or unenforceable in whole or in part in any jurisdiction, such invalidity
or unenforceability shall affect only such provision in such jurisdiction. This Note expresses the entire understanding of the
parties with respect to the transactions contemplated hereby. The Company and every endorser and guarantor of this Note regardless
of the time, order or place of signing hereby waives presentment, demand, protest and notice of every kind, and assents to any
extension or postponement of the time for payment or any other indulgence, to any substitution, exchange or release of collateral,
and to the addition or release of any other party or person primarily or secondarily liable.

 

c.       If
Lender retains an attorney for collection of this Note, or if any suit or proceeding is brought for the recovery of all, or any
part of, or for protection of the indebtedness respected by this Note, then the Company agrees to pay all costs and expenses of
the suit or proceeding, or any appeal thereof, incurred by the Lender, including without limitation, reasonable attorneys’ fees.

 

d.       This
Note shall for all purposes be governed by, and construed in accordance with the laws of the State of Nevada (without reference
to conflict of laws) and the exclusive venue shall be in the State and Federal courts located in State of New York.

 

e.       This
Note shall be binding upon the Company’s successors and assigns, and shall inure to the benefit of the Lender’s successors and
assigns.

 

    3

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Note to be executed by its duly authorized officer to take effect as of the date
first hereinabove written.

 

	 	EAGLE
    EQUITIES, LLC
	 	 	 
	 	By:	/s/ Yakov D. Borenstein
	 	Title:	Member
	 	 	 
	 	APPROVED:
	 	 	 
	 	NIGHTFOOD
    HOLDINGS, INC.
	 	 	 
	 	By:	/s/ Sean Folkson
	 	Title:	CEO

 

 

4

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