Document:

Exhibit

PARENT GUARANTY AGREEMENT

THIS GUARANTY AGREEMENT (this “Guaranty”) effective as of  APRIL 3, 2020  (the “Effective Date”), is executed by ELEVATE CREDIT, INC, a  Delaware corporation ("Guarantor") to and for the benefit of  FIRST FINANCIAL LOAN  COMPANY, LLC, a  Delaware limited liability company (“Lender”).
RECITALS     
WHEREAS, RISE CREDIT SERVICE OF TEXAS, LLC, which is a subsidiary of Guarantor entered into a SPECIAL LIMITED AGENCY AGREEMENT, dated as of June 26, 2015, (as amended, modified or restated from time to time, the "Agreement") with Lender.  Lender currently provides loans to borrowers for a maximum term of one hundred eighty (180) days (“Loan Term”). Guarantor would like Lender to provide loans to consumers for a term greater than the Loan Term. As a condition providing consumer a greater Loan Term, Lender is requiring Guarantor to guaranty the obligations of Borrowers to Lender as further described herein.  Capitalized terms not otherwise defined herein, shall have the same meanings as in the Agreement.
NOW, THEREFORE, in consideration of the premises recited above and such other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by Guarantor; and for the purpose of inducing Lender to enter into the Agreement; and as long as Guarantor continues to be obligated to Lender in any manner whatsoever pursuant to the Agreement, Guarantor:
1.    Unconditionally, irrevocably and absolutely guarantees (a) the due and punctual payment of amounts due and payable from CSO to Lender under the Agreement, including, but not limited to, all guaranty obligations, daily settlement payment obligations (as applicable) and indemnification payment obligations of CSO set forth in the Agreement; and (b) the due and punctual performance and observance by CSO of all other obligations, warranties, covenants and duties of CSO set forth in the Agreement (all of which amounts payable and the terms, warranties, agreements, covenants and conditions being herein called the Obligations”).  
2.    Agrees that this Guaranty shall be a continuing guaranty, shall be binding upon Guarantor, and upon its successors and assigns, and shall remain in full force and effect, and shall not be discharged, impaired or affected by (a) the existence or continuance of any of the Obligations (other than the payment or performance of the Obligations in accordance with their terms); (b) the validity or invalidity of any document or agreement evidencing the Obligations or any of them; (c) the existence or continuance of Guarantor as a legal entity; (d) any waiver, indulgence, alteration, substitution, exchange, change in, modification or other disposition of any of the Obligations or the Loans, all of which Lender or Guarantor is hereby expressly authorized to make from time to time in accordance with the Agreement; (e) the acceptance by Lender of any security for, or other guarantors upon, all or any part of the Obligations; or (f) any defense (other than the payment or performance of the Obligations in accordance with their terms) that Guarantor may or might have to its undertakings, liabilities and obligations hereunder, each and every such defense being hereby waived by Guarantor.
3.    Agrees that with respect to each Loan, Guarantor shall be held liable hereunder and Lender shall have the right to enforce this Guaranty against Guarantor for and to the full amount

Parent Guaranty Agreement – Page 1

of the Obligations for such Loan, with or without enforcing or attempting to enforce this Guaranty against any other guarantor, without any obligation on the part of Lender, or anyone, at any time, to resort to any collateral, security, property, liens or other rights or remedies whatsoever, and whether or not other proceedings or steps are pending or have been taken or have been concluded to enforce or otherwise realize upon the obligations, properties, estates or security of such Loan or the related Borrower or any other guarantor; and the payment of any amount or amounts by Guarantor, pursuant to its obligations hereunder, shall not entitle Guarantor, either at law or otherwise, to any right, title or interest (whether by way of subrogation or otherwise) in and to any of the Obligations with respect to any Loan, unless and until the full amount of such Obligations has been fully paid, all other Obligations with respect to such Loan have been fully performed and observed in accordance with their terms.
4.    Waives diligence, presentment, protest, notice of dishonor, demand for payment, extension of time of payment, notice of acceptance of this Guaranty, nonpayment at maturity and indulgences and notices of every kind, and consents to any and all forbearance and extensions of the time of payment of the Obligations with respect to each Loan, and further consents to any and all changes in the terms, covenants and conditions thereof hereafter made or granted; it being the intention that Guarantor shall remain liable under this Guaranty until the Agreement shall have been terminated, the Obligations for each Loan shall have been fully repaid to Lender, and the terms, covenants and conditions thereof shall have been fully performed and observed by the related Borrowers with respect to each Loan and by CSO with respect to the Agreement, notwithstanding any act, omission or thing which might otherwise operate as a legal or equitable discharge of Guarantor.
5.    Agrees that this Guaranty shall inure to the benefit of and may be enforced by Lender and its successors and assigns.
6.    This Guaranty may be terminated by written notice to the Lender, however such termination shall not impair or limit the liability of the Guarantor for Obligations or other liability incurred under this Guaranty or the Agreement by Lender prior to the effective date of such termination. 
7.    Agrees, as does Lender by the acceptance hereof, that this Guaranty shall be governed by the laws of the State of Texas and that any dispute or controversy whatsoever arising hereunder shall be resolved by arbitration pursuant to the applicable provisions set forth in the Agreement or any other dispute resolution procedures which CSO and Lender may agree upon in writing, all of which are hereby consented and agreed to by Guarantor and Lender.

***REMAINDER OF PAGE LEFT INTENTIONALLY INCOMPLETE***

Parent Guaranty Agreement – Page 2

GUARANTOR has executed this instrument as of the Effective Date.
	
		
	 
	ELEVATE CREDIT, INC.

	 
	 

	By:
	/s/ Jason Harvison

	Name:
	Jason Harvison

	Title:
	President and CEO

	 
	 

 
                    
	
		
	 
	ACKNOWLEDGED BY FIRST FINANCIAL LOAN COMPANY LLC:

	 
	 

	By:
	/s/ C Dan Adams

	 
	C Dan Adams

	 
	President and CEO

	 
	 

       

Parent Guaranty Agreement – Page 3ex_185487.htm

Exhibit 4.5

 

FORM OF NON-TRANSFERABLE SUBSCRIPTION RIGHTS CERTIFICATE

 

	
			RIGHTS CERTIFICATE #

				
			 

				
			NUMBER OF RIGHTS:

			
	 	 	 

 

THE TERMS AND CONDITIONS OF THE RIGHTS OFFERING ARE SET FORTH IN THE COMPANY'S PROSPECTUS DATED MAY __, 2020 (THE “PROSPECTUS”) AND ARE INCORPORATED HEREIN BY REFERENCE. COPIES OF THE PROSPECTUS ARE AVAILABLE UPON REQUEST FROM MORROW SODALI LLC, THE INFORMATION AGENT, (800) 662-5200 (TOLL FREE) OR STLY.info@investor.morrowsodali.com.

 

HG Holdings, Inc.

(Incorporated under the laws of the State of Delaware)

 

SUBSCRIPTION RIGHTS CERTIFICATE

 

Evidencing non-transferable Subscription Rights, each to purchase

1.30462367 shares of Common Stock of HG Holdings, Inc.

Subscription Price: $TBD per Share

 

THE SUBSCRIPTION RIGHTS WILL EXPIRE IF NOT EXERCISED ON OR BEFORE 5:00 P.M., EASTERN TIME, ON JUNE 19, 2020,

SUBJECT TO EXTENSION OR EARLIER TERMINATION.

 

 

 

 

 

 

 

 

THIS CERTIFIES THAT the registered owner whose name is inscribed hereon and is the owner of the number of subscription rights set forth above. Each subscription right entitles the holder thereof to subscribe for and purchase 1.30462367 shares of Common Stock of HG Holdings, Inc., a Delaware corporation, pursuant to the basic subscription right, on the terms and subject to the conditions set forth in the Prospectus and the “Instructions as to Use of HG Holdings, Inc. Subscription Rights Certificate” accompanying this Rights Certificate. Holders who fully exercise their basic subscription rights are entitled to subscribe for additional shares that remain unsubscribed, subject to proration and stock ownership limitations, as described in the Prospectus pursuant to the over-subscription privilege. The subscription rights may be exercised by duly completing Section 1 on the reverse side hereof and by returning the full payment of the subscription price. If the subscriber attempts to exercise its over-subscription privilege and the Company is unable to issue the subscriber the full number of shares requested, the Subscription Agent will return to the subscriber any excess funds submitted as soon as practicable, without interest or deduction. THE RIGHTS EVIDENCED BY NON-TRANSFERABLE SUBSCRIPTION RIGHTS CERTIFICATE MAY NOT BE EXERCISED UNLESS THE REVERSE SIDE HEREOF IS PROPERLY COMPLETED AND DULY SIGNED, WITH A SIGNATURE MEDALLION GUARANTEE, IF APPLICABLE.

 

This Rights Certificate is not valid unless countersigned by Continental Stock Transfer & Trust Company, the Subscription Agent.

 

WITNESS the seal of HG Holdings, Inc. and the signatures of its duly authorized officers.

	 	 	
			COUNTERSIGNED AND REGISTERED:

			Continental Stock Transfer & Trust Company

				 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:	 	 	By:	 	 
	 	Chief Executive Officer	 	 	 	 

 

 

 

 

 

SECTION 1. EXERCISE OF RIGHTS TO PURCHASE

PLEASE PRINT ALL INFORMATION CLEARLY AND LEGIBLY.

 

The undersigned hereby represents, in connection with this election, that the undersigned is not a resident of Arizona, California or Ohio. You are required initially to pay for both the shares subscribed for pursuant to the basic subscription right and the over-subscription privilege. To subscribe for shares pursuant to your basic subscription right, please complete lines (a) and (c) below. To subscribe for additional units pursuant to your over-subscription privilege, please also complete line (b). [To elect not to apply excess payments to the over-subscription privilege, check line (c).]

 

	
			 

				
			(a)

				
			EXERCISE OF BASIC SUBSCRIPTION RIGHT:

			

 

	
			Basic Subscription Right:

				
			 

				
			X

				
			$0.65

				
			=

				
			$

			
	 	
			Number of Shares

				
			 

				
			Subscription Price

				
			 

				
			Payment enclosed

			

 

	 	 	
			(b)

				
			EXERCISE OF OVER-SUBSCRIPTION PRIVILEGE: If you have exercised your basic subscription right in full, you may subscribe for additional units pursuant to your over-subscription privilege

			

 

	
			Over Subscription Privilege:

				
			 

				
			X

				
			$0.65

				
			=

				
			$

				 
	 	
			Number of Shares

				
			 

				
			Subscription Price

				
			 

				
			Payment enclosed

				 
	 	 
	
			(c)

				
			TOTAL AMOUNT OF PAYMENT ENCLOSED $                        

			

 

METHOD OF PAYMENT:      ☐     Cashier’s check, certified check or wire transfer drawn on or from a U.S. Bank payable to “Continental Stock Transfer & Trust Company, as subscription agent for HG Holdings, Inc.”

 

SECTION 2. SIGNATURE(S)

 

IMPORTANT: THE SIGNATURE(S) MUST CORRESPOND IN EVERY PARTICULAR, WITHOUT ALTERATION, WITH THE NAME(S) AS PRINTED ON THE FRONT OF THIS NON-TRANSFERABLE SUBSCRIPTION RIGHTS CERTIFICATE. IF YOU ARE SIGNING ON BEHALF OF A REGISTERED STOCKHOLDER OR ENTITY IN A REPRESENTATIVE CAPACITY (E.G., AS AN OFFICER OR FIDUCIARY) YOU MUST SIGN IN YOUR LEGAL CAPACITY WITH YOUR SIGNATURE GUARANTEED. YOUR GUARANTOR (BANK/BROKER) WILL REQUIRE PROOF OF YOUR AUTHORITY TO ACT. CONSULT YOUR GUARANTOR FOR THEIR SPECIFIC REQUIREMENTS. YOU OR YOUR GUARANTOR MAY ACCESS THE SECURITIES TRANSFER ASSOCIATION (STA) RECOMMENDED REQUIREMENTS ONLINE AT WWW.STAI.ORG

	
			  

				
			 

				 
	
			 

				
			 

				
			 

			
	
			Signature(s) of Subscriber(s)

				
			 

				
			 

			
	
			 

				
			 

				
			 

			
	
			Names(s):

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

			
	
			Capacity

			(Full Title):

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

				
			 

			

OVERNIGHT DELIVERY TO THE STREET ADDRESS BELOW BEST ENSURES RECEIPT BY THE EXPIRATION DATE.

 

 Return this statement to: 

Continental Stock Transfer & Trust Company

1 State Street- 30th Floor

New York, NY 10004

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