Document:

Exhibit 10.21

 

LICENSE AGREEMENT (OFFICE SPACE) SUMMARY
OF TERMS

 

	Contract
    No.	DOC646
	Airport	6N5

        Atlantic Aviation Metroport NYC, 499 East
        34,h Street, New York, NY

        10016

	Operator	Macquarie Aviation North America 2, Inc.
        d/b/a/ Atlantic Aviation

        Metroport

	Master
    Lease Agreement(s)	Concession
    agreement dated October 1, 2019 between The City of New York acting by and through The NYC Department of Small Business
    Services (NYCEDC) and Macquarie Aviation North America 2 Inc.
	Facility	Heliport
    located at 499 East 34th Street NY, NY 10016
	User	Name:      Blade
        Urban Air Mobility, Inc.

         

        Contact:  Melissa
        Tomkiel (Melissa@flyblade.com)

         

        Phone:     646-981-8000

         

        Email:      Melissa@flvblade.com

	Description
    of Space	South
    Terminal lounge and office space for helicopter passengers and staff  to include storage. Automobile or other vehicles
    are not permitted on the active ramp, parking for one vehicle included in facility parking lot on access road.
	Purpose
    for use of Space	Use for passenger lounge and reception
        for Blade Helicopter customers

        prior to flights. Use of area to operate
        office staff and Blade Helicopter

        personnel during business
        hours of the heliport, 0800 am to 8:00pm Monday through Fridav.

	Effective
    Date	December
    1, 2019
	Initial
    Term	[***]
    with Mutually Agreeable Option, not to be urueasonably withheld, of an additional [***] Terms TBD
	User
    Fees*	Space
        Use Fee (monthly):Year I [***] [***]

        [***]:
        TBD

        Parking: included one space in
        access road lot

        Janitorial: NIA
        Security: NIA

        Other: all
        maintenance related to tenninal electric, plumbing and construction is at the cost of the tenant Blade Inc. see attached
        terms

        *All
        fees and charges, including without limitation the Space Use Fee is subject to an annual increase of a minimum of 10%
        on each anniversary of the Effective Date.

 

IN
WITNESS WHEREOF, the parties have executed this Summary of Terms and the attached License Agreement as of the Effective Date,
and the person executing this Summary of Terms on behalf of User represents and warrants that he or she has full power and
authority to do so.

 

	OPERATOR	 	USER
	By:	/s/
    Patricia Wagner	 	By:	/s/
    Melissa Tomkiel
	Title:	General Manager	 	Title:	Melissa Tomkiel – General Counsel
	Date:	1/8/2020	 	Date:	1/6/2020

 

    

     

    

 

LICENSE AGREEMENT

(OFFICE SPACE)

 

This
LICENSE AGREEMENT ("Agreement'') is entered into as of the Effective Date by and between the Operator and User. Capitalized
terms used herein without definition shall have the meaning ascribed to such terms in the Summary of Terms to which this Agreement
is attached.

 

1.           Right
to Use Space.

 

1.1          Operator
grants User a temporary right to use and occupy the Space described in the Summary of Terms. User accepts the Space in its "as-is"
condition.

 

1.2          The
Space shall be used exclusively for the purpose(s) set forth in the Summary of Terms. This Agreement does not grant User the right
to conduct, and User shall not conduct, any business at Operator's facility unless User has obtained all required permits, authorizations
and approvals.

 

1.3          User's
rights granted herein are subject and subordinate to the terms and conditions of the Master Lease Agreement. User shall comply
with the rules and regulations set forth on Schedule I to this Agreement, if
any, specifying additional terms, conditions and obligations of User as they relate to the Master Lease Agreement. User
shall abide by all reasonable rules and regulations governing the use of the Space under the Master Lease Agreement. Nothing in
this Agreement shall create or purport to create any obligations of the Airport to User, and the Airport shall be deemed an intended
third party beneficiary of this Agreement.

 

I.4          User
shall keep and maintain the Space and every part thereof in good and clean condition and in accordance with reasonable rules or
regulations established by Operator or the Airport from time to time during the Term. This provision is not intended to impose
an obligation on User to repair the Space unless such repair is necessitated by the fault or neglect ofUser. User shall not make
any alterations or additions to the Space, or inscribe, paint, affix or display on any part of the Space any sign, advertisement
or notice, including \Vindow displays, without first obtaining Operator's written permission, and shall return occupancy at the
termination of this Agreement in the same and in as good condition as exists on the Effective Date, except for reasonable wear
and tear, damage by fire or casualty through no fault of the User and modifications expressly approved by Operator.

 

1.5         Operator
reserves the right to enter the Space at all reasonable times for the purpose of making any inspection it may deem appropriate
to the proper enforcement of any of the covenants and conditions of this Agreement or the Master Lease Agreement or to undertake
repairs, additions or alterations to the Space.

 

1.6          This
Agreement creates only a license terminable as set forth herein. Nothing in this Agreement shall be construed or deemed to construe
a grant of an interest in real property or to convey an estate or to vest property rights in the User, nor shall this Agreement
or its performance be interpreted to create a landlord/tenant, partnership, agency, joint venture, bailment, trust or :fiduciary
relationship between Operator and User.

 

2.
         User Fees.

 

2.1         User
shall pay to Operator the monthly fees set forth in the Summary of Terms ("User Fees"), in advance, on the first day
of each month during the Term in consideration of User's use and occupancy of the Space for the Term. User Fees shall be prorated
on a daily rate basis for any partial month during the Term.

 

2.2          User
agrees that the User Fees shall be subject to review and adjustment by the Operator as set forth in the Summary of Terms, and/or
at other times by giving User not less than sixty (60) days written notice. After the effective date set forth in said notice,
the new User Fees shall become effective automatically for all purposes, unless and until further adjustments are made to the
User Fees in accordance with this Section 2.2.

 

2.3          User
shall be liable for all taxes and fees owed on or by User's personal business. Under no circumstances shall Operator by liable
for or required to pay any tax or fee owed by User.

 

2.4          Unless
otherwise indicated in the Summary of Terms, User shall pay for all water, heat, gas, light, power, air conditioning, telephone
and other utilities that Operator shall supply and, if applicable, trash disposal.

 

2.5          If
User fails to pay any User Fees or other amounts provided for in this Agreement within five (5) days after the same becomes due
and payable, User shall be obligated to pay a late charge equal to five percent (5%) of the amount not so paid when due. In addition,
any Fees or other amounts to be paid by User pursuant to this Agreement which are not paid within ten (10) days after the same
becomes due and payable shall bear interest at a rate equal to two (2) percentage points above the then applicable Wall Street
Journal Prime Rate (U.S. money center commercial banks) or its successor, accruing from the date such amount became due and payable
to the date of payment thereof by User. Such interest shall constitute additional User Fees due and payable to Operator by User
upon the date of payment of the delinquent payment referenced above.

 

    

     

    

 

3.
          Term and Termination.

 

3.1          This
Agreement shall commence on the Effective Date and continue for the period of time set forth in the Summary of Terms (the "Initial
Term"). After the Initial Term, this Agreement shall continue in effect from year to year, being automatically renewed after
each year (each a '"Renewal Term"), unless either party gives written notice of termination, with or without cause,
to the other party at least sixty (60) days prior to the end of the Initial Term or any Renewal Term thereafter. The Initial Term
together with each Renewal Term is referred to as the "Term."

 

3.2          Operator
may terminate this Agreement at any time upon sixty (60) days prior written notice to User.

 

3.3          This
Agreement will automatically terminate upon the termination or expiration of the Master Lease Agreement for any reason or as otherwise
expressly directed in writing by the Airport, and no damages, monies or compensation will be owed to the User by the Operator

 

3.4          Events
of Default. Each of the following events shall constitute a default under this Agreement on the part of User:

 

(a)      the
failure of User to pay and deliver to Operator any payment after same is due and fails to cure such default within five (5) business
days after the Operator gives User written notice of such default; provided, that, Operator shall only be obligated to provide
such notice and opportunity to cure two (2) times during any consecutive twelve (12) month period;

 

(b)     the
failure of User to comply with any other provision of this Agreement as soon as reasonably practical and in any event within five
(5) business days after written demand by Operator, except that if any non-monetary failure is not capable of being cured within
such five (5) business day period, User shall be given a reasonable time to cure such failure so long as User has timely commenced
curing such failure within the five (5) business day period and thereafter diligently proceeds to cure such failure as promptly
as possible; and

 

(c)      the
filing of any voluntary or involuntary petition or similar pleading under any section or sections of any bankruptcy act shall
be filed by or against User or any voluntary or involuntary proceedings in any court shall be instituted to declare User insolvent
or unable to pay User's debts, and in the case of any involuntary petition or proceeding if same is not dismissed within ninety
(90) days from the date it is filed, or if User makes an assignment for the benefit of its creditors, or if a receiver is appointed
for any property of User or if User's interest hereunder is levied upon execution or its attached by process oflaw and not discharged
or dismissed within ninety (90) days.

 

3.5         Operator
may terminate this Agreement upon prior written notice to User in the event of any default by User. User shall remove all of User's
property from the Space and pay to Operator all outstanding User Fees and other charges due and owing Operator under this Agreement
as promptly as practicable after the effective date of termination, but in all cases within five (5) business days of the effective
date of termination. If User should fail to vacate the Space within such period, User shall be deemed to be a trespasser and Operator
may peaceably enter upon the Space and remove User's property without further notice, demand or court proceeding and without liability
to User. Operator shall be under no duty or obligation to store or maintain any ofUser's property at any time and shall not be
liable to User for any damage to or destruction of such property. If Operator stores the property, User shall be liable to Operator
for the costs of transportation and storage.

 

4.           No
Assignment or Sublicense. User shall not assign, sublicense, or otherwise transfer this Agreement or its rights or obligations
hereunder, or permit occupancy or use of the Space, in whole or in part, by another party without Operator"s prior written
consent, which consent will not be unreasonably withheld, delayed or conditioned. Any attempted assignment, sublicense, or other
transfer without Operator's prior written consent shall be null and void.

 

5.
         Insurance.

 

5.1         User
agrees that it will maintain at its expense at all times during the Term in full force and effect, with insurers of recognized
responsibility, minimum insurance coverage(s) as set forth on Schedule 2 to this Agreement. Each such policy shall name
Operator, Atlantic Aviation FBO, Inc., their respective direct and indirect subsidiaries and affiliated companies under common
control with Atlantic Aviation FBO, Inc., the Airport, and each of their respective officers, directors, agents, servants and
employees as an additional insured (the "Additional Insureds"). Such insurance shall be primary insurance to any other
insurance available to the Additional Insureds. If User fails to perform any of its obligations
regarding the acquisition and maintenance of insurance, Operator may perform the same and the cost of same shall be payable by
User upon Operator's demand. User acknowledges that its potential liability under this Agreement
is not limited to the amount of insurance coverage it maintains
or the limits required herein.

 

    2

     

    

 

5.2         Operator
agrees that, during the Term, it will maintain at its expense at all times in full force and effect, with insurers of recognized
responsibility, minimum insurance coverage(s) as required by the Master Lease Agreement. Upon thirty (30) days written notice
by the User, the Operator will provide User with a certificate
of Operator's insurance coverage. Operator is required to respond to a request from User for a copy of such insurance certificate
only one (I) time per calendar year.

 

6.          General
Indemnity.

 

6.1          Any
and all injury, breakage, or damage to the Space or the real property of which the Space is a part, arising from any act or omission
of User or its agents, contractors, servants, invitees, or employees, may be repaired by Operator at the sole expense of User.

 

6.2         User
agrees to indemnify, save and hold harmless the Additional Insureds from any and all liabilities, expenses, causes of action,
damages, and/or reasonable attorney's fees resulting from or arising out of any of User's businesses, operations, occupancy, or
use of the Space, or from any act or omission of User's agents, contractors, servants, invitees, or employees. This indemnity
shall apply and protect the Additional Insureds whether or not the Additional Insureds were negligent or their actions or failures
to act contributed to such liability, expense, cause of action or damage.

 

7.          Disclaimers
of Liability.

 

7.1         All
personal property of User, its agents, contractors, servants, invitees or employees, in and on the Space or any part of the real
property on which the Space is located, shall be and remain therein under any and all circumstances at the sole risk of said parties
and Operator shall in no event be liable to any such person or party for any damage to, or loss thereof.

 

7.2         Operator
shall not be liable for any personal injury to User, User's agents, contractors, servants, invitees or employees arising from
the use and condition of the Space or any part of the real property on which the Space is located.

 

7.3         THE
PARTIES AGREE THAT UNDER NO CIRCUMSTANCES SHALL OPERATOR, ATLANTIC AVIATION FBO, INC., TIIBIR RESPECTIVE DIRECT AND INDIRECT SUBSIDIARIES
AND AFFILIATED COMPANIES UNDER COMMON CONTROL WITH ATLANTIC AVIATION FBO, INC., OR THE AIRPORT BE LIABLE TO USER OR ANY OF USER'S
AGENTS, CONTRACTORS, SERVANTS, INVITEES OR EMPLOYEES FOR INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, PUNITIVE OR EXEMPLARY DAMAGES,
WHETHER IN CONTRACT OR TORT (INCLUDING STRICT LIABILITY AND NEGLIGENCE), INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR DIMINUTION
IN VALUE, LOSS OF USE, LOST PROFITS OR LOST OPPORTUNITY. OPERATOR SHALL HAVE NO OBLIGATION TO KEEP, MAINTAIN OR SECURE USER'S
PROPERTY, AND USER ASSUMES ALL RISK OF LOSS OR DAMAGE TO ITS PROPERTY LOCATED IN THE SPACE.

 

8.           Anti-Bribery.
Anti-Corruption. User and User's affiliates shall not directly or indirectly pay, offer, give or promise to pay or authorize
the payment of any money or other things of value to an official or employee of a government, public organization, Operator or
its affiliates, any political party or candidate if any such payment, offer, act or authorization is for purposes of influencing
official actions or decision or securing any improper advantage in order to obtain or retain business, or engaging in acts or
transactions otherwise in violation of any applicable anti-bribery laws. User represents and warrants that neither User nor its
affiliates, owners, shareholders, officers or directors own or are controlled by a "Restricted Person," which is defined
as (1) the government of any country subject to an embargo imposed by the United States government, (2) an individual or entity
located in or organized under the laws of a country that is subject to an embargo imposed by the United States Government, (3)
individuals or entities ordinarily resident in any country subject to an embargo imposed by the United States government, or (4)
individuals or entities identified by a government or legal authority with whom User or its affiliates, or Operator or its affiliates,
are prohibited or restricted from dealing with, including persons designated under the U.S. Department of Treasury's Office of
Foreign Assets Control (OFAC) List of Specially Designated Nationals and Other Blocked Persons (including terrorists and narcotics
traffickers); and similar restricted party listings, including those maintained by other governments pursuant to United Nations,
regional or national trade or financial sanctions. User acknowledges and agrees that as part of Operator's trade sanctions policy,
it will truthfully complete the OFAC Reporting Questionnaire, attached to this Agreement as Schedule 3, and return the
completed questionnaire to Operator in no less than five (5) business days prior to the Effective Date. User represents and warrants
that User is not engaging in this transaction in furtherance of a criminal act, including acts in violation of applicable anti
corruption laws. If User learns that conduct has or may have
occurred in violation of this Section, User shall inunediately notify Operator.

 

    3

     

    

 

9.           European
General Data Protection. User acknowledges and agrees to comply with all applicable data protection laws, particularly the
European General Data Protection Regulation of April 27, 2016, Regulation (EU) 2016/679, (the "GDPR"). By entering into
this agreement, User will be subject to operating in a manner which is compliant with the requirements of the GDPR.

 

10.         California
Consumer Privacy Act Under the California Consumer Privacy Act ("CCPA") (A.B. 375, 2018 Reg. Sess. (Cal. 2018))
User represents and warrants upon receipt of personal information to abide by the restrictions of being a service provider and
will comply with these restrictions. User represents and warrants that neither User nor its affiliates shall directly or indirectly
sell, retain, use or disclose received personal information for any purpose other than for the specific purpose(s) of performing
the services specified in the contract, outside of the direct business relationship between third party and the Operator, or as
otherwise permitted by the CCPA. User shall not further collect, sell or use any personal information of consumers (that is disclosed
to it by the Operator) except as necessary to perform the stated business purpose. If User learns that conduct has or may have
occurred in violation ofthis Section 10, User shall immediately notify Operator in writing.

 

11.
         Miscellaneous.

 

11.1       No
delay, waiver, omission, or forbearance on the part of Operator to exercise any right or power arising from any breach or default
by User under this Agreement will constitute or be deemed a waiver by Operator of any such right or power including, without limitation,
the right to declare User in default hereunder for any subsequent breach. To the extent that User enjoys any sovereign or analogous
immunity pursuant to any domestic laws, as the same may be amended from time to time (or the benefit of any aspect thereof) with
respect to this Agreement or User's obligations hereunder, User hereby irrevocably waives such immunity.

 

11.2       This
Agreement, together with the Summary ofTerms and the Schedules hereto, constitutes the entire agreement of the parties hereto
and shall not be supplemented, amended or modified except by a written instrument duly executed by the parties hereto.

 

11.3       This
Agreement shall be governed by and construed in accordance with the laws of the jurisdiction where the Space is located, without
regard to its conflicts of laws rules.

 

11.4       This
Agreement may be executed by facsimile transtmss10n, in one or more counterparts, each of which shall be deemed an original, but
all of which, taken together, shall constitute one and the same instrument.

 

11.5       User
and Operator hereby voluntarily submit themselves to the jurisdiction of the Federal and State courts situated in the jurisdiction
in which the Space is located for the resolution of any dispute arising under this Agreement, and User and Operator expressly
waive any defense or claim of inconvenient forum. User shall pay Operator's fees and expenses, including reasonable attorney's
fees and court costs, should Operator prevail in any suit or action brought for the collection or payment of any unpaid User Fees
or other fees, charges, taxes or expenses due Operator under this Agreement.

 

*       *       *

 

    4Exhibit 10.22

 

NOTE

 

	Date	4/8/2020
	Note
    Amount	$
    1,164,642
	Borrower	Fly
    Blade Inc.
	Lender	JPMorgan
    Chase Bank, N.A.

 

		1.	PROMISE TO PAY.

 

Borrower promises to pay to the
order of Lender the Note Amount, plus interest on the unpaid principal balance at the Note Rate, and all other amounts required
by this Note.

 

		2.	DEFINITIONS.

 

“CARES Act” means the
Coronavirus Aid, Relief, and Economic Security Act.

 

“Deferral Period”
means the six month period beginning on the date of this Note.

 

"Loan" means the loan evidenced by this Note.

 

“Maturity Date” means
twenty-four (24) months from the date of this Note.

 

“Note Rate” means
an interest rate of 0.98% Per Annum and interest shall accrue on the unpaid principal balance computed on the basis of the actual
number of days elapsed in a year of 360 days.

 

“Per Annum” means for
a year deemed to be comprised of 360 days.

 

"SBA" means the Small Business
Administration, an Agency of the United States of America.

 

		3.	CONDITIONS PRECEDENT TO FUNDING OF LOAN.

 

Before the funding of the Loan, the
following conditions must be satisfied:

 

		A.	Lender has approved the request for the Loan.

 

     

     

    

 

		B.	Lender has received approval from SBA to fund the Loan.

 

		4.	PAYMENT TERMS.

 

Borrower will pay this Note as follows:

 

		A.	No Payments During Deferral Period. There shall be no payments
                                         due by Borrower during the Deferral Period.

 

		B.	Principal and Interest Payments. Commencing one month after the
                                         expiration of the Deferral Period, and continuing on the same day of each month thereafter
                                         until the Maturity Date, Borrower shall pay to Lender monthly payments of principal and
                                         interest, each in such equal amount required to fully amortize the principal amount outstanding
                                         on the Note on the last day of the Deferral Period by the Maturity Date.

 

		C.	Maturity Date. On the Maturity Date, Borrower shall pay to Lender
                                         any and all unpaid principal plus accrued and unpaid interest plus interest accrued during
                                         the Deferral Period. This Note will mature on the Maturity Date.

 

		D.	If any payment is due on a date for which there is no numerical
                                         equivalent in a particular calendar month then it shall be due on the last day of such
                                         month. If any payment is due on a day that is not a Business Day, the payment will be
                                         made on the next Business Day. The term "Business Day" means a day other than
                                         a Saturday, Sunday or any other day on which national banking associations are authorized
                                         to be closed.

 

		E.	Payments shall be allocated among principal and interest at the
                                         discretion of Lender unless otherwise agreed or required by applicable law. Notwithstanding,
                                         in the event the Loan, or any portion thereof, is forgiven pursuant to the Paycheck Protection
                                         Program under the federal CARES Act, the amount so forgiven shall be applied to principal.

 

		F.	Borrower may prepay this Note at any time without payment
                                         of any premium.

 

		5.	CERTIFICATIONS.

 

Borrower certifies as follows:

 

		A.	Current economic uncertainty
                                         makes this Loan necessary to support the ongoing operations of Borrower.

 

		B.	Loan funds will be used
                                         to retain workers and maintain payroll or make mortgage payments, lease payments, and
                                         utility payments.

 

     

     

    

 

		C.	During the period beginning
                                         on February 15, 2020 and ending on December 31, 2020, Borrower has not and will not receive
                                         another loan under this program.

 

		D.	Borrower was in operation
                                         on February 15, 2020 and (i) had employees for whom it paid salaries and payroll taxes,
                                         or (ii) paid independent contractors as reported on a 1099-Misc.

 

		6.	AGREEMENTS.

 

Borrower understands and agrees, and
waives and releases Lender, as follows:

 

		A.	The Loan would be made under
                                         the SBA’s Paycheck Protection Program. Accordingly, it must be submitted to and
                                         approved by the SBA. There is limited funding available under the Paycheck Protection
                                         Program and so all applications submitted will not be approved by the SBA.

 

		B.	Lender is participating in the Payroll Protection Program
                                         to help businesses impacted by the economic impact from COVID-19. However, Lender anticipates
                                         high volume and there may be processing delays and system failures along with other issues
                                         that interfere with submission of your application to SBA. Lender does not represent
                                         or guarantee that it will submit the application before SBA funding is no longer available
                                         or at all. You agree that Lender is not responsible or liable to you (i) if the application
                                         is not submitted to the SBA until after SBA stops approving applications, for any reason
                                         or (ii) if the application is not processed. You forever release and waive any claims
                                         against Lender concerning failure to obtain the Loan. This release and waiver applies
                                         to but is not limited to any claims concerning Lender’s (i) pace, manner or systems
                                         for processing or prioritizing applications, or (ii) representations by Lender regarding
                                         the application process, the Paycheck Protection Program, or availability of funding.
                                         This agreed to release and waiver supersedes any prior communications, understandings,
                                         agreements or communications on the issues set forth herein.

 

		C.	Forgiveness of the Loan
                                         is only available for principal that is used for the limited purposes that qualify for
                                         forgiveness under SBA requirements, and that to obtain forgiveness, Borrower must request
                                         it and must provide documentation in accordance with the SBA requirements, and certify
                                         that the amounts Borrower is requesting to be forgiven qualify under those requirements.
                                         Borrower also understand that Borrower shall remain responsible under the Loan for any
                                         amounts not forgiven, and that interest payable under the Loan will not be forgiven but
                                         that the SBA may pay the Loan interest on forgiven amounts.

 

		D.	Forgiveness is not automatic
                                         and Borrower must request it. Borrower is not relying on Lender for its understanding
                                         of the requirements for forgiveness such as eligible expenditures, necessary records/documentation,
                                         or possible reductions due to changes in number of employees or compensation. Rather
                                         Borrower will consult the SBA’s program materials.

 

     

     

    

 

		E.	The application for this Loan is subject to review and that
                                         Borrower may not receive the Loan. The Loan also remains subject to availability of funds
                                         under the SBA’s Payment Protection Program, and to the SBA issuing an SBA loan
                                         number.

 

		7.	DEFAULT.

 

Borrower is in default under this
Note if Borrower:

 

		A.	Fails to make a payment when due under the Note or otherwise
                                         fails to comply with any provision of this Note.

		B.	Does not disclose, or anyone acting on its behalf does not
                                         disclose, any material fact to Lender or SBA.

		C.	Makes, or anyone acting on its behalf makes, a materially false
                                         or misleading representation, attestation or certification to Lender or SBA in connection
                                         with Borrower’s request for this Loan under the CARES Act, or makes a false certification
                                         under paragraph 5 of this Note.

		D.	Fails to comply with all of the provisions of this Note.

		E.	Becomes the subject of a proceeding
                                         under any bankruptcy or insolvency law, has a receiver or liquidator appointed for any
                                         part of its business or property, or makes an assignment for the benefit of creditors.

		F.	Reorganizes, merges, consolidates, or otherwise changes ownership
                                         or business structure without Lender's prior written consent.

		G.	Becomes the subject of a civil or criminal action that Lender
                                         believes may materially affect Borrower's ability to pay this Note.

 

		8.	LENDER'S RIGHTS IF THERE IS A DEFAULT.

 

Without notice or demand and without
giving up any of its rights, Lender may:

 

		A.	Require immediate payment of all amounts owing under this
                                         Note.

		B.	Collect all amounts owing from Borrower.

		C.	File suit and obtain judgment.

 

		9.	LENDER'S GENERAL POWERS.

 

Without notice or Borrower's
consent, Lender may incur expenses to collect amounts due under this Note and enforce the terms of this Note. Among other things,
the expenses may include reasonable attorney's fees and costs. If Lender incurs such expenses, it may demand immediate repayment
from Borrower or add the expenses to the principal balance;

 

     

     

    

 

		10.	GOVERNING LAW AND VENUE; WHEN FEDERAL LAW APPLIES.

 

When SBA is the holder, this
Note shall be interpreted and enforced under federal law, including SBA regulations. Lender or SBA may use state or local procedures
for filing papers, recording documents, giving notice, foreclosing liens, and other purposes. By using such procedures, SBA does
not waive any federal immunity from state or local control, penalty, tax, or liability. As to this Note, Borrower may not claim
or assert against SBA any local or state law to deny any obligation, defeat any claim of SBA, or preempt federal law.

 

If the SBA is not the holder, this Note
shall be governed by and construed in accordance with the laws of the State of Ohio where the main office of Lender is
located. MATTERS REGARDING INTEREST TO BE CHARGED BY LENDER AND THE EXPORTATION OF INTEREST SHALL BE GOVERNED BY FEDERAL LAW
(INCLUDING WITHOUT LIMITATION 12 U.S.C. SECTIONS 85 AND 1831u) AND THE LAW OF THE STATE OF OHIO. Borrower agrees that any
legal action or proceeding with respect to any of its obligations under this Note may be brought by Lender in any state or
federal court located in the State of Ohio, as Lender in its sole discretion may elect. Borrower submits to and accepts in
respect of its property, generally and unconditionally, the non-exclusive jurisdiction of those courts. Borrower waives any
claim that the State of Ohio is not a convenient forum or the proper venue for any such suit, action or proceeding. The
extension of credit that is the subject of this Note is being made by Lender in Ohio.

 

		11.	SUCCESSORS AND ASSIGNS.

 

Under this Note, Borrower includes
its successors, and Lender includes its successors and assigns.

 

		12.	GENERAL PROVISIONS.

 

		A.	Borrower must sign all documents necessary at any time to
                                         comply with the Loan.

		B.	Borrower’s execution of this Note has been duly authorized
                                         by all necessary actions of its governing body. The person signing this Note is duly
                                         authorized to do so on behalf of Borrower.

		C.	This Note shall not be governed by any existing or future credit
                                         agreement or loan agreement with Lender. The liabilities guaranteed pursuant to any existing
                                         or future guaranty in favor of Lender shall not include this Note. The liabilities secured
                                         by any existing or future security instrument in favor Lender shall not include this
                                         Note.

		D.	Lender may exercise any of its rights separately or together,
                                         as many times and in any order it chooses. Lender may delay or forgo enforcing any of
                                         its rights without giving up any of them.

		E.	Borrower may not use an oral statement of Lender or SBA to contradict
                                         or alter the written terms of this Note.

		F.	If any part of this Note is unenforceable, all other parts
                                         remain in effect.

 

     

     

    

 

		G.	To the extent allowed by law, Borrower waives all demands and
                                         notices in connection with this Note, including presentment, demand, protest, and notice
                                         of dishonor.

		H.	Borrower's liability under this Note will continue with respect
                                         to any amounts SBA may pay Bank based on an SBA guarantee of this Note. Any agreement
                                         with Bank under which SBA may guarantee this Note does not create any third party rights
                                         or benefits for Borrower and, if SBA pays Bank under such an agreement, SBA or Bank may
                                         then seek recovery from Borrower of amounts paid by SBA.

		I.	Lender reserves the right to modify the Note Amount based on documentation
                                         received from Borrower.

 

		13.	ELECTRONIC SIGNATURES.

 

Borrower’s electronic
signature shall have the same force and effect as an original signature and shall be deemed (i) to be "written" or "in
writing" or an “electronic record”, (ii) to have been signed and (iii) to constitute a record established and
maintained in the ordinary course of business and an original written record when printed from electronic files. Such paper copies
or "printouts," if introduced as evidence in any judicial, arbitral, mediation or administrative proceeding, will be
admissible as between the parties to the same extent and under the same conditions as other original business records created
and maintained in documentary form.

 

		14.	BORROWER’S NAME AND SIGNATURE:

 

Borrower:

 

Fly Blade Inc.

 

	By:	/s/ Sean Grennan	 
	Printed Name:	Sean Grennan	 
	Title:	CFO	 
	Date Signed:	4/8/2020	 

 

     

     

    

 

Terms
for Acceptance of Electronic Signatures

 

 

Reference
is made to (i) that certain SBA Paycheck Protection Program (PPP) Application, dated as of 4/8/2020 (the “PPP Application”)
and (ii) the documents evidencing the loans provided in connection therewith, including, without limitation, any promissory note
(as amended, restated, or otherwise modified from time to time, the “Loan Documents”, and together with the PPP Application
the “Transaction Documents”) by and between JPMORGAN CHASE BANK, N.A. (“Lender”) and Fly Blade Inc. (“Borrower”).
These Terms set forth the terms and conditions upon which any person authorized to sign the Transaction Documents on behalf of
the Borrower (“Authorized Signer”) can execute the Transaction Documents and other related documents using an electronic
signature (“E-Signed Document”).

 

Capitalized
terms used but not defined in these Terms shall have the meaning given to those terms in the Transaction Documents. Borrower and
Lender are collectively referred to in these Terms as the “Parties”.

 

By submitting
the PPP Application, the Borrower is deemed to have agreed to the following provisions, which shall supersede and control over
the terms and conditions of the Transaction Documents:

 

Use of Electronic
Records and Signatures; Electronic Delivery of Communications.

 

		(a)	Notwithstanding any other provision
                                         of the Transaction Documents, in such format and delivered in such manner as Lender may
                                         specify, any Transaction Documents, and any notice, consent, amendment, communication,
                                         or other document or information provided for herein or related to the Transaction Documents
                                         (collectively, “Documents”), including without limitation any Document required
                                         to be written or in writing, may be in the form of an electronic record (“Electronic
                                         Record”). Electronic Records and “Electronic Signatures” (as that term
                                         is defined under the New York Electronic Signatures and Records Act, N.Y. Laws STT -
                                         State Technology Article 3, and, to the extent applicable, the federal ESIGN Act, 15
                                         U.S.C. § 7001 et seq.) may be used in place of written documents and handwritten
                                         signatures. Any Transaction Document may be executed in as many counterparts as necessary
                                         or convenient, including both counterparts that are executed on paper and counterparts
                                         that are Electronic Records and executed using Electronic Signatures. Each executed counterpart
                                         shall be deemed an original, and all such counterparts shall constitute one and the same
                                         document.

 

		(b)	Notwithstanding any other provision
                                         of any Transaction Document, Electronic Records may be sent electronically by Lender
                                         to Borrower (1) by sending the Electronic Record to Borrower’s Authorized Email
                                         Address as an attachment to an email, or (2) by posting the Electronic Record on a website
                                         and sending a notice to an Authorized Email Address, and such notice shall inform Borrower
                                         that the Electronic Record has been posted, its location, and instructing Borrower on
                                         how to view it. In the absence of actual notice of non-delivery received by the sender,
                                         and except as otherwise expressly required by applicable law, an Electronic Record sent
                                         electronically pursuant to the Transaction Documents shall be deemed given when the Electronic
                                         Record, or notice of posting, is sent and shall constitute notice of the Electronic Record.
                                         As used in this subparagraph, “Authorized Email Address” means any email
                                         address Borrower provides to Lender as Borrower’s email address or the email address
                                         of Borrower’s authorized representative, including as provided in any authorization
                                         or certification provided by Borrower to Lender.

 

     

     

    

 

		(c)	Lender will accept Electronic Signatures
                                         generated only through the electronic signature platform of DocuSign, Inc. (“DocuSign”).
                                         Any Document consisting of an Electronic Record bearing Electronic Signatures executed
                                         through DocuSign (an “Electronically Signed Document”) must, when viewed
                                         in a PDF viewer, produce a signature panel evidencing the document has not been modified
                                         since the signature was applied (“Signature Panel”) and must include a certificate
                                         of completion providing details about each signer on the document, which may include
                                         the signer’s IP address, email address, signature image and timestamp (“Certificate
                                         of Completion”). In choosing not to use (or, in the case of encryption, not having
                                         the capability to use) any one or more security features of DocuSign, Borrower accepts
                                         the risks associated with not using such security measures. Borrower shall be liable
                                         for any loss or costs suffered by Lender as a result of not using such security measures.
                                         Any Electronically Signed Document that (i) contains the Certificate of Completion and
                                         (ii) shows that the email address of the signer contained in the Certificate of Completion
                                         is an Authorized Email Address previously provided to Lender by Borrower (or Lender has
                                         otherwise received a verification email from such Authorized Email Address) for an Authorized
                                         Signer (defined below), is prima-facie evidence of it having been executed by the person
                                         whose electronic signature appears thereon, regardless of the appearance or form of such
                                         electronic signature. Borrower agrees that an Electronically Signed Document shall be
                                         deemed to have the same effect as an original Document manually signed by an Authorized
                                         Signer. Lender agrees that any Electronically Signed Document executed by an authorized
                                         officer of Lender shall be deemed to have the same legal effect as an original Document
                                         manually signed by that officer.

 

		(d)	Lender will accept delivery from
                                         Borrower of Electronically Signed Documents comprising any Transaction Documents (i)
                                         which conform to the parties’ negotiated and agreed terms and the requirements
                                         of these Terms, and (ii) which were created and sent by Borrower acting on Lender’s
                                         behalf as its designated custodian solely for purposes of Section 9-105 of the Uniform
                                         Commercial Code (“Designated Custodian”) until receipt of delivery by Lender
                                         of such Transaction Document. Lender and Borrower agree that the copy of an Electronically
                                         Signed Document received by Lender from Borrower is the authoritative electronic copy
                                         of such Electronic Record (each an “Authoritative Copy”). Notwithstanding
                                         anything to the contrary herein, Lender shall have the right to reject for any reason
                                         any Electronically Signed Document received from Borrower, including by way of example
                                         and not limitation, any failure of such document to conform to these Terms, and may require
                                         Borrower to execute and deliver such document on paper. Upon receipt and acceptance of
                                         the executed Authoritative Copy by Lender, Borrower shall decommission, permanently mark
                                         as a copy that is not the Authoritative Copy, or otherwise render inactive or inaccessible
                                         all copies of such Transaction Documents held by Borrower as Designated Custodian and
                                         certify the same as part of the transmittal to Lender.

 

		(e)	At the Lender’s option, an
                                         Authoritative Copy of any Transaction Document may be converted to paper and marked as
                                         the original by the Lender (each a "Paper Original"). In the event the Authoritative
                                         Copy is converted to a Paper Original, the parties hereto acknowledge and agree that:

 

		a.	the electronic signing any Transaction Document also constitutes
                                         issuance and delivery of the Paper Original,

		b.	the Electronic Signature(s) associated with any Transaction
                                         Document, when affixed to the Paper Original, constitutes legally valid and binding signatures
                                         on the Paper Original, and

		c.	the Borrower’s obligations will be evidenced by the
                                         Paper Original after such conversion.

 

    2 

     

    

 

		(f)	Borrower will separately provide
                                         Lender with documentation (i) showing or certifying the authority of its authorized signers
                                         (“Authorized Signers”) to sign documents on behalf of Borrower and (ii) containing
                                         the correct name, Authorized Email Address, and telephone numbers for each Authorized
                                         Signer (“Authority Documents”). Borrower represents and warrants that the
                                         information contained in the Authority Documents is accurate and complete, and that the
                                         Borrower will promptly notify Lender if there are any changes to the Authority Documents,
                                         including if an Authorized Signer’s authority is modified or revoked. Lender is
                                         authorized to rely on the information set forth in the Authority Documents until it receives
                                         and has had a reasonable time to act on such notice. The Lender has no obligation to
                                         verify whether the Electronic Signature for any Authorized Signer in an Electronically
                                         Signed Document matches the specimen signature held by the Lender, the name, or other
                                         information or characteristic of the Authorized Signer, or otherwise verify in any way
                                         that the Electronically Signed Document was actually executed by that Authorized Signer.

 

		(g)	Borrower represents and warrants
                                         on a continuous basis that (i) Electronically Signed Documents shall be deemed to have
                                         the same effect as an original document manually signed by an Authorized Signer; and
                                         (ii) each Electronically Signed Document has been validly executed by duly Authorized
                                         Signer(s) in accordance with the requirements of applicable law and, to the extent relevant,
                                         the Borrower’s organizational documents; (iii) each Electronically Signed Document
                                         constitutes a valid, legal, enforceable and binding obligation of the Borrower; and (iv)
                                         each Electronically Signed Document consisting of any Transaction Document was created
                                         and delivered by Borrower to Lender in Borrower’s capacity as Designated Custodian.
                                         The Borrower acknowledges that the Lender has relied on the foregoing representations
                                         and warranties when accepting Electronically Signed Documents. The Borrower confirms
                                         that each Electronically Signed Document constitutes an Electronic Record established
                                         and maintained in the ordinary course of business and an original written record when
                                         printed from electronic files. Such printed copies will be treated to the same extent
                                         and under the same conditions as other original business records created and maintained
                                         in documentary form. The Borrower represents and warrants that it has commercially reasonable
                                         policies and procedures intended to prevent unauthorized access to email messages delivered
                                         to any Authorized Signer at the Authorized Signer’s business email address, which
                                         include the following: (i) each Authorized Signer is assigned a unique business email
                                         address; (ii) the Authorized Signer’s access to the business email account requires
                                         at least the use of a unique username and password; and (iii) the Authorized Signer is
                                         required to maintain the security of the log-in password and other security used to access
                                         the business email account and not to reveal them to any other person.

 

		(h)	Lender assumes no responsibility
                                         or liability arising from the transmission, treatment or storage of any data by any e-signature
                                         platform, including, without limitation, any personal data. In consideration of the Lender
                                         accepting Electronically Signed Documents, the Borrower indemnifies and holds the Lender,
                                         and its agents, employees, officers and directors, harmless from and against any and
                                         all claims, damages, demands, judgments, liabilities, losses, costs and expenses (including
                                         attorneys’ fees) arising out of or resulting from the Lender’s reliance on
                                         this Agreement or on an Electronically Signed Document executed on behalf of the Borrower.

 

		(i)	Without prejudice to any other provision
                                         in the Transaction Documents relating to governing law, this Agreement and any obligations
                                         arising out of or in relation to its terms shall be governed by and construed in accordance
                                         with the laws of New York.

 

    3 

     

    

 

Notwithstanding any
termination or expiration of these Terms, Lender shall be entitled to rely upon all representations and warranties of Borrower
made herein for so long as Lender maintains any of the Electronically Signed Documents or the Paper Originals. Additionally, the
following sections of these Terms shall survive any termination or expiration of these Terms and/or any business relationship
between Lender and Borrower: sections (e) (conversion to Paper Originals), and (h) (indemnity).

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