Document:

wowi_ex1010.htm

EXHIBIT 10.10
  
 THIS WARRANT AND THE SECURITIES INTO WHICH THIS WARRANT IS EXERCISABLE ARE BEING OFFERED TO INVESTORS WHO ARE NOT U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”)) AND WITHOUT REGISTRATION WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT IN RELIANCE UPON REGULATION S PROMULGATED UNDER THE SECURITIES ACT (“REGULATION S”). TRANSFER OF THIS WARRANT OR THE SECURITIES INTO WHICH THIS WARRANT IS EXERCISABLE IS PROHIBITED, EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S, PURSUANT TO REGISTRATION UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION.  HEDGING TRANSACTIONS INVOLVING THIS WARRANT OR THE SECURITIES INTO WHICH THIS WARRANT IS EXERCISABLE MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.
  
  	 Date of Issuance
	 Void after

	 March [*], 2022
	 March [*]h, 2023

 
  
 METRO ONE TELECOMMUNICATIONS, INC.
 WARRANT TO PURCHASE SHARES OF COMMON STOCK
  
 In connection with and as consideration for the Holder (as defined below) making a loan to the Company (defined below) pursuant to that certain Note Purchase Agreement (the “Purchase Agreement”), dated as of March [*], 2022, this Warrant is issued to [INSERT NAME] or its assigns (the “Holder”) by METRO ONE TELECOMMUNICATIONS, INC., a Delaware corporation (the “Company”).
  
  
 1. Purchase of Shares.
  
 1.1 Number of Shares. Subject to the terms and conditions set forth herein, the Holder is entitled, upon surrender of this Warrant at the principal office of the Company (or at such other place as the Company shall notify the Holder in writing), to purchase from the Company up to an aggregate of [*] ([*] Warrant Shares]) fully paid and nonassessable shares of the Company’s Common Stock (the “Common Stock”).
  
 1.2 Exercise Price. The exercise price for the shares of Common Stock issuable pursuant to this Section 1 (the “Shares”) shall be $0.12 per share (the “Exercise Price”). The Shares and the Exercise Price shall be subject to adjustment pursuant to Section 5 hereof.
  
 2. Exercise Period. This Warrant shall be exercisable, in whole or in part, during the term commencing on March [*], 2022 and ending at 5:00 p.m. ET on March [*], 2023 (the “Exercise Period”).
  
 3. Method of Exercise.
  
 _________________________________
 1 Number of Shares equal to 50% of Holder’s Subscription Amount divided by the Exercise Price.
  
  	 
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 3.1 While this Warrant remains outstanding and exercisable in accordance with Section 2 above, the Holder may exercise, in whole or in part, the purchase rights evidenced hereby. Such exercise shall be effected by:
  
 (a) the surrender of the Warrant, together with a duly executed copy of the Notice of Exercise attached hereto, to the Secretary of the Company at its principal office (or at such other place as the Company shall notify the Holder in writing); and
  
 (b) the payment to the Company of an amount equal to the aggregate Exercise Price for the number of Shares being purchased.
  
 3.2 Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the day on which this Warrant is surrendered to the Company as provided in Section 3.1 above.
  
 3.3 As soon as practicable after the exercise of this Warrant in whole or in part, and in any event within twenty (20) days thereafter (such date, the “Share Delivery Date”), the Company at its expense will cause the Shares purchased hereunder to be transmitted by (x) the Company’s transfer agent (the “Transfer Agent”) to the Holder by crediting the account of the Holder’s or its designee’s balance account with The Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant in such system and either (A) there is an effective registration statement permitting the issuance of the Shares to or resale of the Shares by the Holder or (B) the Shares are eligible for resale by the Holder pursuant to Rule 144 or Regulation S promulgated under the Securities Act, and (y) otherwise by book entry transfer registered in the Company’s share register in the name of the Holder or its designee (or at the request of the Holder, by physical delivery of a certificate, registered in the name of the Holder or its designee), for the number of Shares to which the Holder is entitled pursuant to such exercise to the address specified by the Holder in the Notice of Exercise. The Shares shall be deemed to have been issued, and Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised, with payment to the Company of the Exercise Price, prior to the issuance of such Shares, having been paid.
  
 3.4 In case such exercise is in part only, the Company shall, at the request of the Holder, issue a new warrant or warrants (dated the date hereof) of like tenor, calling in the aggregate on the face or faces thereof for the number of Shares equal to the number of such Shares described in this Warrant minus the number of such Shares purchased by the Holder upon all exercises made in accordance with Section 3.1 above.
  
 4. Covenants of the Company.
  
 4.1 Notices of Record Date. In the event of any taking by the Company of a record of the holders of any class of securities for the purpose of determining the holders thereof who are entitled to receive any dividend (other than a cash dividend which is the same as cash dividends paid in previous quarters and stock dividends) or other distribution, the Company shall provide the Holder, at least ten (10) days prior to such record date, a notice specifying the date on which any such record is to be taken for the purpose of such dividend or distribution.
  
  	 
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 4.2 Covenants as to Exercise Shares. The Company covenants and agrees that all Shares that may be issued upon the exercise of the rights represented by this Warrant will, upon issuance in accordance with the terms hereof, be validly issued and outstanding, fully paid and nonassessable, and free from all taxes, liens and charges with respect to the issuance thereof. The Company further covenants and agrees that the Company will at all times during the Exercise Period, have authorized and reserved, free from preemptive rights, a sufficient number of shares of Common Stock to provide for the exercise of the rights represented by this Warrant. If at any time during the Exercise Period the number of authorized but unissued shares of Common Stock shall not be sufficient to permit exercise of this Warrant, the Company will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purposes.
  
 5. Adjustment of Exercise Price and Number of Shares. The number and kind of Shares purchasable upon exercise of this Warrant and the Exercise Price shall be subject to adjustment from time to time as follows:
  
 5.1 Subdivisions Other Issuances. If the Company shall at any time after the issuance but prior to the expiration of this Warrant subdivide its Common Stock, by split-up or otherwise, or issue additional shares of its Common Stock as a dividend with respect to any shares of its Common Stock, the number of Shares issuable on the exercise of this Warrant shall forthwith be proportionately increased in the case of a subdivision or stock dividend, or proportionately decreased in the case of a combination. Appropriate adjustments shall also be made to the Exercise Price payable per share, but the aggregate Exercise Price payable for the total number of Shares purchasable under this Warrant (as adjusted) shall remain the same. Any adjustment under this Section 5.1 shall become effective at the close of business on the date the subdivision or combination becomes effective, or as of the record date of such dividend, or in the event that no record date is fixed, upon the making of such dividend.
  
 5.2 Reclassification, Reorganization and Consolidation. In case of any reclassification, capital reorganization or change in the capital stock of the Company (other than as a result of a subdivision, or stock dividend provided for in Section 5.1 above), then, as a condition of such reclassification, reorganization or change, lawful provision shall be made, and duly executed documents evidencing the same from the Company or its successor shall be delivered to the Holder, so that the Holder shall have the right at any time prior to the expiration of this Warrant to purchase, at a total price equal to that payable upon the exercise of this Warrant, the kind and amount of shares of stock and other securities or property receivable in connection with such reclassification, reorganization or change by a holder of the same number and type of securities as were purchasable as Shares by the Holder immediately prior to such reclassification, reorganization or change. In any such case appropriate provisions shall be made with respect to the rights and interest of the Holder so that the provisions hereof shall thereafter be applicable with respect to any shares of stock or other securities or property deliverable upon exercise hereof, and appropriate adjustments shall be made to the Exercise Price per Share payable hereunder, provided the aggregate Exercise Price shall remain the same.
  
 5.3 Notice of Adjustment. When any adjustment is required to be made in the number or kind of shares purchasable upon exercise of the Warrant, or in the Exercise Price, the Company shall promptly notify the Holder of such event and of the number of Shares or other securities or property thereafter purchasable upon exercise of this Warrant.
  
  	 
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 6. No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant, but in lieu of such fractional shares the Company shall make a cash payment therefor on the basis of the Exercise Price then in effect.
  
 7. No Stockholder Rights. Prior to exercise of this Warrant, the Holder shall not be entitled to any rights of a stockholder with respect to the Shares, including (without limitation) the right to vote such Shares, receive dividends or other distributions thereon, exercise preemptive rights or be notified of stockholder meetings, and, except as otherwise provided in this Warrant, such Holder shall not be entitled to any stockholder notice or other communication concerning the business or affairs of the Company. Upon the exercise of the Warrant, if not already a party thereto, the Holder shall execute a joinder to each of the Transaction Documents (as defined in the Purchase Agreement) then in effect, and any other related agreements or instruments as reasonably requested by the Company at such time. If the Holder is already party to the Transaction Documents, the Holder agrees that upon the exercise of the Warrant, the Shares shall be subject to the terms and conditions of the Purchase Agreement in all respects.
  
 8. Transfer of Warrant. Subject to compliance with applicable federal and state securities laws, the last sentence of this Section 8 and any other contractual restrictions between the Company and the Holder contained herein or in the Purchase Agreement, this Warrant and all rights hereunder are transferable in whole or in part by the Holder to any person or entity upon written notice to the Company; provided, that the Holder shall not make any such transfer to any of the Company’s competitors as such is reasonably determined by the Company. Within a reasonable time after the Company’s receipt of an executed Assignment Form in the form attached hereto, the transfer shall be recorded on the books of the Company upon the surrender of this Warrant, properly endorsed, to the Company at its principal offices. In the event of a partial transfer, the Company shall issue to the new holders one (1) or more appropriate new warrants. Notwithstanding the foregoing, any transfer of this Warrant and any rights hereunder shall be subject to the terms and conditions regarding transfers set forth in the Purchase Agreement and the Company’s Bylaws , as amended from time to time.
  
 9. Governing Law. This Warrant shall be governed by and construed under the laws of the State of New York as applied to agreements among New York residents, made and to be performed entirely within the State of New York.
  
 10. Successors and Assigns. The terms and provisions of this Warrant shall inure to the benefit of, and be binding upon, the Company and the holders hereof and their respective successors and assigns.
  
 11. Counterparts. This Warrant may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
  
 12. Titles and Subtitles. The titles and subtitles used in this Warrant are used for convenience only and are not to be considered in construing or interpreting this Warrant.
  
  	 
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 13. Notices. All notices and other communications given or made pursuant hereto shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, and if not so confirmed, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the respective parties at the following addresses (or at such other addresses as shall be specified by notice given in accordance with this Section 13):
  
 If to the Company:
  
 METRO ONE TELECOMMUNICATIONS, INC.
 30 North Gould Street, Suite 2990
 Sheridan, WY 82801 
 Attention: Bianca Meger, CEO
 Email: bianca@shelfy.io; Attention: Bianca Meger, CEO
  
 If to Holder:
  
 At the address shown on the signature page hereto.
  
 14. Expenses. If any action at law or in equity is necessary to enforce or interpret the terms of this Warrant, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled.
  
 15. Entire Agreement; Amendments and Waivers. This Warrant and any other documents delivered pursuant hereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and thereof. Nonetheless, any term of this Warrant may be amended and the observance of any term of this Warrant may be waived (either generally or in a particular instance and either retroactively or prospectively), with the written consent of the Company and the Holder; or if this Warrant has been assigned in part, by the holders or rights to purchase a majority of the shares originally issuable pursuant to this Warrant.
  
 16. Severability. If any provision of this Warrant is held to be unenforceable under applicable law, such provision shall be excluded from this Warrant and the balance of the Warrant shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms.
  
 [Signature Page Follows]
  
  	 
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 IN WITNESS WHEREOF, the parties have executed this Warrant as of the date first written above.
  
  	 	 METRO ONE TELECOMMUNICATIONS, INC.
	
	 	 	 	 
		By:		
	  
	  
	Name: Bianca Meger	 
	 	 	Title: CEO	 
	 	 	 	 

 
   
  	 ACKNOWLEDGED AND AGREED:
	
	  
	  

	 HOLDER
	  

	 	 	 
	By:		
	  
	Name:	 
	 	Title:	 

 
  
  	Address:		 
	  
	  
	  

	  
	  
	  

 
    
  	 
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 NOTICE OF EXERCISE
  
 METRO ONE TELECOMMUNICATIONS, INC.
  
 Attention: Bianca Meger, CEO
  
 The undersigned hereby elects to purchase, pursuant to the provisions of the Warrant, as follows:
  
 _____________ shares of Common Stock pursuant to the terms of the attached Warrant, and tenders herewith payment in cash of the Exercise Price of such Shares in full.
  
  	  
	 ☐
	 Check here if requesting delivery via book entry transfer.

	  
	  
	  

	  
	 ☐
	 Check here if requesting delivery as a certificate to the following name and to the following address:

 
  
  	  
	 Issue to:
	  
	  

	  
	  
	  
	  

	  
	  
	  
	  

	  
	  
	  
	  

	  
	  
	  
	  

 
  
  	  
	 ☐
	 Check here if requesting delivery by Deposit/Withdrawal at Custodian as follows:

 
  
  	  
	 DTC Participant:
	  
	  

	  
	 DTC Number:
	  
	  

	  
	 Account Number:
	  
	  

 
  
  	 Date: ___________________
	 HOLDER:

	  
	  

	  
	 By:
	  

	  
	  
	 Name:

	  
	  
	 Title:

	  
	  
	  

	  
	 Address:
	  

	  
	  
	  

	  
	  
	  

 
  
  
  
  	 Name in which shares should be registered:
	  

	  
	  

	  
	  

 
  
  	 
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 ASSIGNMENT FORM
  
 (To assign the foregoing Warrant, execute this form and supply required information. Do not use this form to purchase shares.)
  
 For Value Received, the foregoing Warrant and all rights evidenced thereby are hereby assigned to
  
  	 Name:
	  

	  
	 (Please Print)

	  
	  

	 Address:
	  

	  
	 (Please Print)

	  
	  

	 Dated:
	  
	  

	  
	  

	 Holder’s Signature:
	  

	  
	  

	 Holder’s Address:
	  

 
  
 NOTE: The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant. Officers of corporations and those acting in a fiduciary or other representative capacity should provide proper evidence of authority to assign the foregoing Warrant.
  
  	 
	8wowi_ex1011.htm

EXHIBIT 10.11
   
 P R O M I S S O R Y  N O T E 
  
  
 
 	 Principal Amount: $100,000.00
	 Dated as of June 3, 2022

 
 
  
 
 
 
 FOR VALUE RECEIVED, and on the date first above written (the “Effective Date”), Metro One Telecommunications, Inc., a Delaware corporation (together with its successors and assigns, the “Maker”), promises to pay to the order of [Everest Credit LP] or its registered assigns or successors in interest (the “Payee”) the principal sum of One Hundred Thousand Dollars ($100,000.00) (the “Face Amount”), in lawful money of the United States of America, on the terms and conditions set forth in this Promissory Note (this “Note”), as consideration for the Payee’s advance of a loan to Maker on the Effective Date (the “Advance”).
  
 1. Principal. The principal balance of this Note shall be payable on October 3, 2022 (the “Maturity Date”). The principal balance may be prepaid at any time prior to the Maturity Date at the discretion of the Maker. Under no circumstances shall any individual, including but not limited to any officer, director, employee or shareholder of the Maker, be obligated personally for any obligations or liabilities of the Maker hereunder.
  
 2. Interest. 
  
 (a) The unpaid principal balance of this Note shall bear interest from and including the date of issuance until all obligations of the Maker hereunder are paid in full at a rate of one percent (12.0%) per annum. Accrued and unpaid interest is due and payable monthly in arrears in cash, commencing on July 1, 2022 in accordance with Section 4 (the “Monthly Interest Payments”).
  
 (b) All computations of interest hereunder shall be made on the basis of a year of 360 days for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest is payable.
  
 3. Advance; Use of Proceeds. The Maker acknowledges that on the Effective Date, the Payee made the Advance, funded directly to Maker in accordance with wire instructions provided to Payee by Maker in an amount equal to the Face Amount. The Maker and its subsidiaries shall use the proceeds of the Advance for general corporate and working capital purposes.
  
 4. Payments. 
  
 (a) Each Monthly Interest Payment due under the Note (other than at the Maturity Date) shall be payable in cash to the Payee by the Maker in accordance with the wire instructions set forth on Schedule A hereto or in accordance with instructions provided by the Payee.
  
 (b) The outstanding principal balance of the Note shall be payable in cash on the Maturity Date, when all when all unpaid principal of, and accrued and unpaid interest on the Note shall be due and payable in cash to Payee in accordance with the wire instructions set forth on Schedule A hereto or in accordance with instructions provided by the Payee.
  
  
 
 	 
	
	

	 

 
 
  
 
 
 
 (c) Whenever any payment owed under the Note shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest or fee, as the case may be. As used herein, “Business Day” means a day of the year on which banks are not required or authorized to close in New York, New York.
  
 5. Costs and Expenses. The Maker agrees to reimburse the Payee for all out-of-pocket costs and expenses, including, without limitation, attorneys’ fees, incurred by the Maker in connection with the (i) collection of any sums due under this Note; and (ii) enforcement of this Note (including, without limitation, any costs and expenses of any third party provider engaged by Payee for such purpose).
  
 6. Application of Payments. All payments shall be applied as follows:
  
 (a) First, to Payee for reimbursable costs and expenses incurred in the collection of any sum due under this Note, including (without limitation) reasonable attorney’s fees;
  
 (b) Second, to Payee to pay interest due and payable in respect of the Note until paid in full; 
  
 (c) Lastly; to Payee to pay principal balance of this Note until paid in full.
  
 7. Events of Default. The following shall constitute an event of default (each, an “Event of Default”):
  
 (a) Failure to Make Required Payments. Failure to make any payment of the principal or interest on or other payments owing in respect of this Note, free of any claim of subordination, within five (5) Business Days following the date when due; or
  
 (b) Intentionally Omitted; or
  
 (c) Breach of Covenant. Maker shall fail to observe or perform any other covenant, agreement or warranty contained in, or otherwise commit any breach of this Note, and such failure or breach shall not, if subject to the possibility of a cure by the Maker, have been remedied within five (5) Business Days after the date on which notice of such failure or breach shall have been given; or
  
 (d) Voluntary Liquidation, Etc. The commencement by Maker of a proceeding relating to its bankruptcy, insolvency, reorganization, rehabilitation or other similar action, or the consent by it to the appointment of, or taking possession by, a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar official) for 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; or
  
 (e) 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 similar law, for the appointing of a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) for Maker or for any substantial part of its property, or ordering the winding-up or liquidation of the affairs of Maker, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days.
  
 8. Remedies.
  
 (a) Upon the occurrence of an Event of Default specified in Sections 7(a) or 7(c) 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, any accrued and unpaid interest thereon, and all other amounts payable hereunder, 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.
  
  
 
 	 
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 (b) Upon the occurrence of an Event of Default specified in Sections 7(d) or 7(e), the unpaid principal balance of this Note, any accrued and unpaid interest thereon, 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.
  
 9. 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, or any writ of execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.
  
 10. 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.
  
 11. Notices. All notices and other communications given or made pursuant hereto shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, and if not so confirmed, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the respective parties at the following addresses (or at such other addresses as shall be specified by notice given in accordance with this Section 11):
  
 If to Maker:
  
 Metro One Telecommunications, Inc.
 Email: bianca@metro1telecomm.com
 Attention: Bianca Meger, Chief Executive Officer
  
 If to Payee:
  
 Everest Credit L.P
 Email: Info@maozeverest.com, Irena@maozeverest.com 
 Attention: Irena Gura, Back Office.
  
  
 
 	 
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 12. Role of Counsel. Each party hereto acknowledges and agrees that Olshan Frome Wolosky LLP (“OFW”) has in the past served as counsel to both parties, but does not represent either party with respect to the negotiation and documentation of this Note. Each party acknowledges and agrees that it does not have an attorney-client relationship with OFW with respect to the negotiation and documentation of this Note, that no such relationship with respect thereto will arise, and that OFW is not providing legal or tax advice in respect thereof. Each party also represents and warrants that, in the event of litigation or arbitration between it and the other party hereto, such party will not seek the removal of OFW as counsel to the other party or to the Company or any of their respective affiliates or related entities for any purported conflict of interest or attorney-client relationship allegedly existing between OFW and such party, and waives any purported or actual conflict of interest.
  
 13. Construction. THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF.
  
 14. Jurisdiction. The courts of New York have exclusive jurisdiction to settle any dispute arising out of or in connection with this agreement (including a dispute relating to any non-contractual obligations arising out of or in connection with this agreement) and the parties submit to the exclusive jurisdiction of the courts of New York.
  
 15. 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.
  
 16. Amendment; Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of the Maker and the Payee.
  
 17. 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.
  
 18. Further Assurance. The Maker shall, at its own cost and expense, execute and do (or procure to be executed and done by any other necessary party) all such deeds, documents, acts and things as the Payee may from time to time require as may be necessary to give full effect to this Note.
  
 [Signature Page Follows] 
  
  
 
 	 
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 IN WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note to be duly executed on the day and year first above written.
  
  
 
 	  
	 MAKER: 
	  

	  
	  
	  

	 	METRO ONE TELECOMMUNICATIONS, INC. 	
	 	 	 	 
		By:	/s/ Bianca Meger	
	  
	  
	Name: Bianca Meger	 
	 	 	Title: CEO	 

 
 
  
 
 
 
 Acknowledged and agreed to as of 
 the day and year first above written:
  
 PAYEE:
  
  
 
 	EVEREST CREDIT L.P	
	 	 	 
	By:	/s/ Elchanan Maoz	
	 Name: 
	Elchanan Maoz	 
	Title: 	Chairman	 

 
 
  
 
 
 
 [Signature Page to Promissory Note]
  
  
 
 	 
	
	

	 

 
 
  
 
 
 
 Schedule A
  
 Wire Instructions (for payments to Payee)
  
  
 
 	 Bank Name: 
	 Bank Leumi Le Israel 1 

	  
	  

	 Swift #: 
	 LUMIILITXXX 

	  
	  

	 Account #: 
	  

	  
	  

	 Account Name:
	 Everest Credit

	  
	  

	 IBAN: 
	  

 
 
  
 
 
________________________
 1 Add Everest Credit LP wire instructions (for purpose of receiving payments of interest and principal).

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