Document:

moho-ex446_69.htm

Exhibit 4.46

Supplementary Loan Agreement II

 

Party A (Lender): Techlong International Investment Limited

Party B (Borrower): Ecmoho (Hong Kong) Limited

Party C (Pledgor): Uhealth Limited

Party D (Guarantor): Zeng Qingchun

 

Whereas, Party A and Party B executed two Loan Agreements in September 2017 and March 2018 respectively, and executed the Supplementary Agreement to Loan Agreement to the above two Loan Agreements (the above four agreements are hereinafter collectively referred to as the "Original Agreements") in September 2019, where Party B borrowed a total of USD 6,000,000 (Six Million US Dollars) from Party A. After friendly negotiation, the four parties hereto have agreed to extend all the terms of the Original Agreements to May 31, 2020, and all the terms of the Original Agreements shall be replaced with the provisions of this Supplementary Agreement as of June 1, 2020.

 

Article 1 Party A and Party B make the following changes to the repayment method stipulated in the Original Agreements: from June 2020 to December 2020, Party B shall repay USD 112, 500 (One Hundred Twelve Thousand and Five Hundred US Dollars) and interest to Party A at the beginning of each month (for details, please refer to Annex 1: Statement of the Principal and Interest of the Loan). In view of the impact of the COVID-19 on Party B's business, Party A agrees to exempt Party B from the cumulative interest payable of USD 525,000 (Five Hundred and Twenty-five Thousand US Dollars) under the premise that Party B has repaid the 2020 loan principal of USD 787,500 (Seven Hundred Eighty-seven Thousand and Five Hundred US Dollars) as agreed. In 2021, Party B promises to repay the loan principal of USD 2, 250, 000 (Two Million Two Hundred and Fifty Thousand US Dollars) to Party A, and to repay the principal and interest at the beginning of each month (for details, please refer to Annex 1: Statement of the Principal and Interest of the Loan). In 2022, Party B promises to repay the loan principal of USD 2,962,500 (Two Million Nine Hundred Sixty-two Thousand and Five Hundred US Dollars) to Party A, and to repay the principal and interest at the beginning of each month (for details, please refer to Annex 1: Statement of the Principal and Interest of the Loan).If Party B fails to repay the principal and interest on the agreed repayment date, the interest payable exempted by Party A shall be halved, and Party B shall immediately repay the cumulative interest payable of USD 262,500 (Two Hundred Sixty-two Thousand and Five Hundred US Dollars) to Party A.

 

Article 2 Party C shall pledge to Party A part of its equity in ECMOHO Limited of 3,000,000 shares (three million shares) as a guarantee for Party B to perform its debts. Party D guarantees to Party A that Party B will perform its obligations hereunder.

 

Article 3 Party C shall register the equity pledge within 30 days after the entry into force of this Agreement.

 

Article 4 Party C guarantees that it legally owns the corresponding equity of ECMOHO Limited and there is no equity dispute.

 

 

 

Article 5 Party A shall, within 3 days after the realization of the claim secured by Party C or the termination of the pledge right, actively assist Party C in the de-registration of the equity pledge.

 

Article 6 The parties hereby acknowledge and agree that the pledge right and guarantee liability under this Agreement shall be terminated if one of the following conditions is satisfied:

1. Where Party A's claim is realized;

2. Where Party B has otherwise provided Party A with the equivalent collateral and pledge, and completed the relevant registration and filing procedures;

3. Where the contract under which the claim is secured is invalid or cancelled.

 

Article 7 This Agreement shall be governed by the laws of the People's Republic of China. The parties hereto agree that they will make every reasonable efforts to resolve any dispute arising herefrom through friendly negotiation. If no agreement is reached regarding such dispute within one month, any party hereto may submit the same to Shanghai International Economic and Trade Arbitration Commission (SIETAC) for arbitration in accordance with its rules then in effect.

 

Article 8: In case of any conflict between this Agreement and the Original Agreements, this Agreement shall prevail. This Agreement shall take effect from the date when the four parties sign and affix their seals. This Agreement is made in four (4) counterparts, with each party holding one (1) counterpart respectively.

	
 

Party A: Techlong International Investment Limited (seal)

/s/ Chang, Ching-Yi

 
	
 

Party B: Ecmoho (Hong Kong) Limited (seal)

 

	
Party C: Uhealth Limited (seal)
	
Party D: /s/ Zeng Qingchun

Date: May 29, 2020

 

2

 

 

 

Annex 1: Statement of the Principal and Interest of the Loan

 

	
Repayment date
	
Principal to be Paid
	
Balance of Loan
	
Days of Loan
	
Interest
	
Interest till May 2020
	
Total of Principal and Interest

	
2020/6/1
	
112,500
	
5,887,500
	
1
	
24.66
	
366,502.76
	
479,027.42

	
2020/7/1
	
112,500
	
5,775,000
	
31
	
764.39
	
-
	
113,264.39

	
2020/8/1
	
112,500
	
5,662,500
	
62
	
1,528.77
	
-
	
114,028.77

	
2020/9/1
	
112,500
	
5,550,000
	
93
	
2,293.15
	
-
	
114,793.15

	
2020/10/1
	
112,500
	
5,437,500
	
123
	
3,032.88
	
-
	
115,532.88

	
2020/11/1
	
112,500
	
5,325,000
	
154
	
3,797.26
	
-
	
116,297.26

	
2020/12/1
	
112,500
	
5,212,500
	
184
	
4,536.99
	
-
	
117,036.99

	
2021/1/1
	
187,500
	
5,025,000
	
215
	
8,835.62
	
-
	
196,335.62

	
2021/2/1
	
187,500
	
4,837,500
	
246
	
10,109.59
	
-
	
197,609.59

	
2021/3/1
	
187,500
	
4,650,000
	
274
	
11,260.28
	
-
	
198,760.28

	
2021/4/1
	
187,500
	
4,462,500
	
305
	
12,534.25
	
-
	
200,034.25

	
2021/5/1
	
187,500
	
4,275,000
	
335
	
13,767.12
	
-
	
201,267.12

	
2021/6/1
	
187,500
	
4,087,500
	
366
	
15,041.09
	
-
	
202,541.09

	
2021/7/1
	
187,500
	
3,900,000
	
396
	
16,273.97
	
-
	
203,773.97

	
2021/8/1
	
187,500
	
3,712,500
	
427
	
17,547.95
	
-
	
205,047.95

	
2021/9/1
	
187,500
	
3,525,000
	
458
	
18,821.92
	
-
	
206,321.92

	
2021/10/1
	
187,500
	
3,337,500
	
488
	
20,054.80
	
-
	
207,554.80

	
2021/11/1
	
187,500
	
3,150,000
	
519
	
21,328.77
	
-
	
208,828.77

	
2021/12/1
	
187,500
	
2,962,500
	
549
	
22,561.64
	
-
	
210,061.64

	
2022/1/1
	
247,500
	
2,715,000
	
580
	
31,463.01
	
-
	
278,963.01

	
2022/2/1
	
247,500
	
2,467,500
	
611
	
33,144.66
	
-
	
280,644.66

	
2022/3/1
	
247,500
	
2,220,000
	
639
	
34,663.56
	
-
	
282,163.56

	
2022/4/1
	
247,500
	
1’972,500
	
670
	
36,345.20
	
-
	
283,845.20

	
2022/5/1
	
247,500
	
1,725,000
	
700
	
37,972.61
	
-
	
285,472.61

	
2022/6/1
	
247,500
	
1,477,500
	
731
	
39,654.25
	
-
	
287,154.25

	
2022/7/1
	
247,500
	
1,230,000
	
761
	
41,281.64
	
-
	
288,781.64

	
2022/8/1
	
247,500
	
982,500
	
792
	
42,963.29
	
-
	
290,463.29

	
2022/9/1
	
247,500
	
735,000
	
823
	
44,644.94
	
-
	
292,144.94

	
2022/10/1
	
247,500
	
487,500
	
853
	
46,272.33
	
-
	
293,772.33

	
2022/11/1
	
247,500
	
240,000
	
884
	
47,953.97
	
-
	
295,453.97

	
2022/12/1
	
240,000
	
 
	
914
	
48,078.91
	
-
	
288,078.91

	
Total
	
6,000,000
	
 
	
 
	
688,553.43
	
366,502.76
	
7,055,056.19

 

 

3Exhibit 10.1

 

THIS
PROMISSORY NOTE (THIS “NOTE”) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF
REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND
SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

PROMISSORY
NOTE

 

	Principal Amount: Up to $240,000	Dated as of May 15, 2020

 

Panacea
Acquisition Corp., a Delaware corporation (“Maker”), promises to pay to the order of EcoR1 Panacea Holdings,
LLC, a Delaware limited liability company, or its registered assigns or successors in interest (collectively, “Payee”),
or order, the principal sum of Two Hundred Forty Thousand Dollars ($240,000) or such lesser amount as shall have been advanced
by Payee to Maker and shall remain unpaid under this Note on the Maturity Date (as defined below) in lawful money of the United
States of America, on the terms and conditions described below. All payments on this Note shall be made by check or wire transfer
of immediately available funds or as otherwise determined by Maker to such account as Payee may from time to time designate by
written notice in accordance with the provisions of this Note.

 

1. Principal.
The entire unpaid principal balance of this Note shall be due and payable in full on the earlier of: (i) December 31,
2020, and (ii) the date on which Maker consummates an initial public offering of its securities (such earlier date of (i) and
(ii), the “Maturity Date”), unless accelerated upon the occurrence of an Event of Default (as defined below).
The principal balance may be prepaid at any time by Maker, at its election and without penalty. Under no circumstances shall any
individual, including but not limited to any officer, director, employee or shareholder of Maker, be obligated personally for
any obligations or liabilities of Maker hereunder.

 

2. Drawdown
Requests. Maker and Payee agree that Maker may request, from time to time, up to Two Hundred Forty Thousand Dollars ($240,000)
in draw downs under this Note to be used for costs and expenses related to Maker’s proposed initial public offering of its
securities (the “IPO”), including its formation. The principal of this Note may be drawn down from time to
time prior to the Maturity Date upon request from Maker to Payee (each, a “Drawdown Request”). Each Drawdown
Request must state the amount to be drawn down, and must not be an amount less than Ten Thousand Dollars ($10,000) unless agreed
upon by Maker and Payee. Payee shall fund each Drawdown Request no later than five (5) business days after receipt of a Drawdown
Request; provided, however, that the maximum amount of drawdowns outstanding under this Note at any time may not
exceed Two Hundred Forty Thousand Dollars ($240,000). No fees, payments or other amounts shall be due to Payee in connection with,
or as a result of, any Drawdown Request by Maker.

 

3. Interest.
No interest shall accrue on the unpaid principal balance of this Note.

 

4. Application
of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due
under this Note, including (without limitation) reasonable attorney’s fees, then to the payment in full of any late charges
and finally to the reduction of the unpaid principal balance of this Note.

 

     

     

    

 

5. Events
of Default. The following shall constitute an event of default (“Event of Default”):

 

(a) Failure
to Make Required Payments. Failure by Maker to pay the principal amount due pursuant to this Note on the Maturity Date.

 

(b) Voluntary
Bankruptcy, Etc. The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization,
rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator,
assignee, trustee, custodian, sequestrator (or other similar official) of Maker or for any substantial part of its property, or
the making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts
become due, or the taking of corporate action by Maker in furtherance of any of the foregoing.

 

(c) Involuntary
Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of Maker
in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator,
assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering
the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period
of sixty (60) consecutive days.

 

6. Remedies.

 

(a) Upon
the occurrence of an Event of Default specified in Section 5(a) hereof, Payee may, by written notice to Maker, declare this Note
to be due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable thereunder,
shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby
expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

 

(b) Upon
the occurrence of an Event of Default specified in Sections 5(b) or 5(c), the unpaid principal balance of this Note, and all other
sums payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without any action
on the part of Payee.

 

7. Waivers.
Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor,
protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by
Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting
any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy
or sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment;
and Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of
execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.

 

8. Unconditional
Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement
of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other
party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or
consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted
by Payee with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors,
or sureties may become parties hereto without notice to Maker or affecting Maker’s liability hereunder.

 

    2

     

    

 

9. Notices.
All notices, statements or other documents which are required or contemplated by this Note shall be: (i) in writing and delivered
personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission
to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such other
address or fax number as may be designated in writing by such party or (iii) by electronic mail, to the electronic mail address
most recently provided to such party or such other electronic mail address as may be designated in writing by such party. Any
notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally,
on the business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business
day after delivery to an overnight courier service or five (5) days after mailing if sent by mail.

 

10. Construction.
THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK.

 

11. Severability.
Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and
any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

 

12. Trust
Waiver. Notwithstanding anything herein to the contrary, Payee hereby waives any and all right, title, interest or claim of
any kind (“Claim”) in or to any distribution of or from the trust account to be established in which proceeds
of the IPO (including the deferred underwriting discounts and commissions) and proceeds of the sale of the warrants issued in
a private placement to occur in connection with the consummation of the IPO are to be deposited, as described in greater detail
in the registration statement and prospectus to be filed with the Securities and Exchange Commission in connection with the IPO,
and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the trust account for any
reason whatsoever.

 

13. Amendment;
Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of Maker
and Payee.

 

14. Assignment.
No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation
of law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required
consent shall be void.

 

 

[Signature
page follows]

    3

     

    

 

IN
WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the undersigned
as of the day and year first above written.

 

	 	Panacea Acquisition Corp.
	 	 
	 	By:	/s/ Oleg Nodelman
	 	Name:	Oleg Nodelman
	 	Title:	Chief Executive Officer

 

Agreed
and Acknowledged:

 

	EcoR1 Panacea Holdings, LLC	 
	 	 
	By:	 /s/ Oleg Nodelman	 
	Name:	Oleg Nodelman	 
	Title:	Chief Executive Officer	 

 

 

 

[Signature Page to Promissory Note]

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