Document:

Exhibit 4.21

 

Purchase Option Agreement

 

THE REGISTERED HOLDER
OF THIS PURCHASE OPTION BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE OPTION EXCEPT
AS HEREIN PROVIDED AND THE REGISTERED HOLDER OF THIS PURCHASE OPTION AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR
HYPOTHECATE THIS PURCHASE OPTION FOR A PERIOD OF ONE HUNDRED AND EIGHTY (180) DAYS FROM [____________], 2012 TO ANYONE OTHER
THAN A BONA FIDE OFFICER OR PARTNER OF AEGIS CAPITAL CORP.

 

THIS PURCHASE OPTION
IS NOT EXERCISABLE PRIOR TO THE COMMENCEMENT DATE (AS DEFINED BELOW) AND IS VOID AFTER 5:00 P.M., EASTERN TIME, [____________],
2017.

 

 

PURCHASE OPTION

 

 

For the Purchase of Ordinary Shares

of

Rosetta Genomics Ltd.

 

 

1.            Purchase
Option. THIS PURCHASE OPTION CERTIFIES THAT, in consideration of funds duly paid by or on behalf of Aegis Capital Corp. (“Holder”,
or “Aegis”), as registered owner of this Purchase Option, to Rosetta Genomics Ltd. (the “Company”),
Holder is entitled, at any time or from time to time from [____________], 2013 (the “Commencement Date”),
and at or before 5:00 p.m., Eastern time, [____________], 2017 (the  “Expiration Date”), but
not thereafter, to subscribe for, purchase and receive, in whole or in part, up to [____________] ordinary shares of the
Company, par value NIS 0.6 per share (the “Shares”), subject to adjustment as provided in Section 5 hereof.
If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be
exercised on the next succeeding day which is not such a day in accordance with the terms herein. During the period ending on the
Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially
exercisable at $[____________] per Share; provided, however, that upon the occurrence of any of the events
specified in Section 5 hereof, the rights granted by this Purchase Option, including the exercise price per Share and the number
of Shares to be received upon such exercise, shall be adjusted as therein specified. The term “Exercise Price”
shall mean the initial exercise price or the adjusted exercise price, depending on the context. For the avoidance of doubt, the
Expiration Date, in which this Purchase Option shall expire, is no more than 5 years from the [____________], 2012.

 

		2.	Exercise.

 

2.1                Exercise
Form. In order to exercise this Purchase Option, the exercise form attached hereto must be duly executed and completed and
delivered to the Company, together with this Purchase Option and payment of the Exercise Price for the Shares being purchased payable
in cash by wire transfer of immediately available funds to an account designated by the Company or by certified check or official
bank check. If the subscription rights represented hereby shall not be exercised at or before 5:00 p.m., Eastern Time, on the Expiration
Date, this Purchase Option shall become and be void without further force or effect, and all rights represented hereby shall cease
and expire. Notwithstanding the above, in the event that, upon the issuance of Shares to a Holder or an assignee thereof, such
Holder or assignee will hold 5% or more of the Company’s issued share capital or of the voting rights in the Company, then,
upon and as a condition to such issuance, such Holder or assignee shall deliver to the Company an executed copy of an Undertaking
(as defined in Annex A attached hereto) towards the Office of the Chief Scientist of the Israeli Ministry of Industry, Trade
and Labor substantially in the form attached hereto as Annex A.

 

    	 

    	 	

    
 

2.2           Cashless
Exercise.  In lieu of exercising this Purchase Option by payment of cash or check payable to the order of the Company
pursuant to Section 2.1 above, Holder may elect to receive the number of Shares equal to the value of this Purchase Option (or
the portion thereof being exercised), by surrender of this Purchase Option to the Company, together with the exercise form attached
hereto, in which event the Company will issue to Holder Shares in accordance with the following formula:

 

	X	=	Y(A-B)	 
	A	 
	Where,	
        X
	=	The number of Shares to be issued to Holder;
	 	Y	=	The number of Shares for which the Purchase Option is being exercised;
	 	A	=	The fair market value of one Share; and
	 	B	=	The Exercise Price.
	 	 	 	 	 	 

For purposes of this Section 2.2, the fair market value of a Share is defined as follows:

 

(i)           
if the Company’s ordinary shares are traded on a securities exchange, the value shall be deemed to be the average
closing price over the last 30 trading days for the Company’s ordinary shares trading on such exchange prior to the exercise
form being submitted in connection with the exercise of the Purchase Option;

 

(ii)           
if the Company’s ordinary shares are traded or quoted over-the-counter, the value shall be deemed to be the closing
bid price over the last 30 trading days for the Company’s ordinary shares traded or quoted over-the-counter prior to the
exercise form being submitted in connection with the exercise of the Purchase Option; or

 

(iii)           
if there is no public market for the Company’s ordinary shares, the value shall be the fair market value thereof,
as determined in good faith by the Company’s Board of Directors.

 

2.3
         Legend. Each certificate for the securities purchased under this Purchase Option shall bear a legend as follows unless
such securities have been registered under the Securities Act of 1933, as amended (the “Act”):

 

“The securities
represented by this certificate have not been registered under the Securities Act of 1933, as amended (the “Act”),
or applicable state law. Neither the securities nor any interest therein may be offered for sale, sold or otherwise transferred
except pursuant to an effective registration statement under the Act, or pursuant to an exemption from registration under the Act
and applicable state law which, in the opinion of counsel to the Company, is available.”

 

    	 

    	 	

    
 

 

		3.	Transfer.

 

3.1          General Restrictions.
The registered Holder of this Purchase Option agrees by his, her or its acceptance hereof, that such Holder will not: (a) sell,
transfer, assign, pledge or hypothecate this Purchase Option for a period of one hundred eighty (180) days following the date of
the issuance hereof (such date of issuance, the “Effective Date”) to anyone other than: a bona fide officer
or partner of Aegis, in each case in accordance with FINRA Conduct Rule 5110(g)(1), or (b) cause this Purchase Option or the securities
issuable hereunder to be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective
economic disposition of this Purchase Option or the securities hereunder, except as provided for in FINRA Rule 5110(g)(2). On and
after one hundred eighty (180) days after the Effective Date, transfers to others may be made subject to compliance with or exemptions
from applicable securities laws. In order to make any permitted assignment, the Holder must deliver to the Company the assignment
form attached hereto duly executed and completed, together with the Purchase Option and payment of all transfer taxes, if any,
payable in connection therewith. The Company shall within five (5) business days transfer this Purchase Option on the books of
the Company and shall execute and deliver a new Purchase Option or Purchase Options of like tenor to the appropriate assignee(s)
expressly evidencing the right to purchase the aggregate number of Shares purchasable hereunder or such portion of such number
as shall be contemplated by any such assignment.

 

3.2           Restrictions
Imposed by the Act. Notwithstanding Section 3.1 hereof, this Purchase Option and/or any or all of the Shares shall not be transferred
unless and until: (i) the Company has received the opinion of counsel for the Holder that this Purchase Option and/or any or all
of the Shares may be transferred pursuant to an exemption from registration under the Act and applicable state securities laws,
the availability of which is established to the reasonable satisfaction of the Company (the Company hereby agreeing that the written
opinion of Zysman Aharoni Gayer and Sullivan & Worcester LLP shall be deemed satisfactory evidence of the availability of an
exemption), or (ii) a registration statement or a post-effective amendment to such registration statement relating to the offer
and sale of this Purchase Option and/or any or all of the Shares has been filed by the Company and declared effective by the U.S.
Securities and Exchange Commission (the “Commission”) and compliance with applicable state securities law
has been established.

 

3.3          Legend Removal.
Upon the exercise of the Holder’s rights to cashless exercise pursuant to Section 2.2 hereof and subject to the transfer
restrictions set forth in Section 3.1 hereof, the Company shall, at its own expense, cause its counsel to issue a legal opinion
to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent to effect the removal of the legend hereunder.
If all or any portion of a Purchase Option is exercised at a time when there is an effective registration statement to cover the
resale of the Shares, or if such Shares may be sold under Rule 144 and the Company is then in compliance with the current public
information required under Rule 144, or if the Shares may be sold under Rule 144 without the requirement for the Company to be
in compliance with the current public information required under Rule 144 as to such Shares or if such legend is not otherwise
required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the
staff of the Commission) then such Shares shall be issued free of all legends or sold pursuant to Rule 144, as applicable. The
Company agrees that at such time as such legend is no longer required under this Section 3.3, it will, no later than five business
days following the delivery by a Holder to the Company or the Transfer Agent of a certificate representing Securities issued with
a restrictive legend, deliver or cause to be delivered to such Holder a certificate representing such Shares that is free from
all restrictive and other legends. The Company certificates for Shares subject to legend removal hereunder shall be transmitted
by the Transfer Agent to the Holder by crediting the account of the Holder’s prime broker with the Depository Trust Company
System as directed by such Holder. “Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities
Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having
substantially the same effect as such Rule.

 

    	 

    	 	

    
 

 

		4.	New Purchase Options to be Issued.

 

4.1          Partial Exercise
or Transfer. Subject to the restrictions in Section 3 hereof, this Purchase Option may be exercised or assigned in whole or
in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase Option for cancellation,
together with the duly executed exercise or assignment form and funds sufficient to pay any Exercise Price and/or transfer tax
if exercised pursuant to Section 2.1 hereto, the Company shall cause to be delivered to the Holder without charge a new Purchase
Option of like tenor to this Purchase Option in the name of the Holder evidencing the right of the Holder to purchase the number
of Shares purchasable hereunder as to which this Purchase Option has not been exercised or assigned.

 

4.2           Lost Certificate.
Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Purchase Option
and of reasonably satisfactory indemnification or the posting of a bond, the Company shall execute and deliver a new Purchase Option
of like tenor and date. Any such new Purchase Option executed and delivered as a result of such loss, theft, mutilation or destruction
shall constitute a substitute contractual obligation on the part of the Company.

 

		5.	Adjustments.

 

5.1          Adjustments
to Exercise Price and Number of Securities. The Exercise Price and the number of Shares underlying the Purchase Option shall
be subject to adjustment from time to time as hereinafter set forth:

 

5.1.1         Share Dividends;
Split Ups. If, after the date hereof, and subject to the provisions of Section 5.3 below, the number of outstanding Shares
is increased by a stock dividend payable in Shares or by a split up of Shares or other similar event, then, on the effective day
thereof, the number of Shares purchasable hereunder shall be increased in proportion to such increase in outstanding shares, and
the Exercise Price shall be proportionately decreased.

 

5.1.2         Aggregation
of Shares. If, after the date hereof, and subject to the provisions of Section 5.3 below, the number of outstanding Shares
is decreased by a consolidation, combination or reclassification of Shares or other similar event, then, on the effective date
thereof, the number of Shares purchasable hereunder shall be decreased in proportion to such decrease in outstanding shares and
the Exercise Price shall be proportionately increased.

 

5.1.3         Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Shares other than
a change covered by Section 5.1.1 or 5.1.2 hereof or that solely affects the par value of such Shares, or in the case of any share
reconstruction or amalgamation or consolidation of the Company with or into another corporation (other than a consolidation or
share reconstruction or amalgamation in which the Company is the continuing corporation and that does not result in any reclassification
or reorganization of the outstanding Shares), or in the case of any sale or conveyance to another corporation or entity of the
property of the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the Holder
of this Purchase Option shall have the right thereafter (until the expiration of the right of exercise of this Purchase Option)
to receive upon the exercise hereof, for the same aggregate Exercise Price payable hereunder immediately prior to such event, the
kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization,
share reconstruction or amalgamation, or consolidation, or upon a dissolution following any such sale or transfer, by a Holder
of the number of Shares of the Company obtainable upon exercise of this Purchase Option immediately prior to such event; and if
any reclassification also results in a change in Shares covered by Section 5.1.1 or 5.1.2, then such adjustment shall be made pursuant
to Sections 5.1.1, 5.1.2 and this Section 5.1.3. The provisions of this Section 5.1.3 shall similarly apply to successive reclassifications,
reorganizations, share reconstructions or amalgamations, or consolidations, sales or other transfers.

 

    	 

    	 	

    
 

 

5.1.4       Changes
in Form of Purchase Option. This form of Purchase Option need not be changed because of any change pursuant to this Section
5.1, and Purchase Options issued after such change may state the same Exercise Price and the same number of Shares as are stated
in the Purchase Options initially issued pursuant to this agreement. The acceptance by any Holder of the issuance of new Purchase
Options reflecting a required or permissive change shall not be deemed to waive any rights to an adjustment occurring after the
Commencement Date or the computation thereof.

 

5.2          Substitute
Purchase Option. In case of any consolidation of the Company with, or share reconstruction or amalgamation of the Company with
or into, another corporation (other than a consolidation or share reconstruction or amalgamation which does not result in any reclassification
or change of the outstanding Shares), the corporation formed by such consolidation or share reconstruction or amalgamation shall
execute and deliver to the Holder a supplemental Purchase Option providing that the holder of each Purchase Option then outstanding
or to be outstanding shall have the right thereafter (until the stated expiration of such Purchase Option) to receive, upon exercise
of such Purchase Option, the kind and amount of shares of stock and other securities and property receivable upon such consolidation
or share reconstruction or amalgamation, by a holder of the number of Shares of the Company for which such Purchase Option might
have been exercised immediately prior to such consolidation, share reconstruction or amalgamation, sale or transfer. Such supplemental
Purchase Option shall provide for adjustments which shall be identical to the adjustments provided for in this Section 5. The above
provision of this Section shall similarly apply to successive consolidations or share reconstructions or amalgamations.

 

5.3           Elimination of Fractional
Interests. The Company shall not be required to issue certificates representing fractions of Shares upon the exercise of the
Purchase Option, nor shall it be required to issue scrip or pay cash in lieu of any fractional interests, it being the intent of
the parties that all fractional interests shall be eliminated by rounding any fraction up or down, as the case may be, in accordance
with any resolution by the Company’s Board of Directors or, if no such resolution is made, to the nearest whole number of
Shares or other securities, properties or rights.

 

6.           Reservation and Listing. The
Company shall at all times reserve and keep available out of its authorized shares, solely for the purpose of issuance upon exercise
of the Purchase Options, such number of Shares or other securities, properties or rights as shall be issuable upon the exercise
thereof. The Company covenants and agrees that, upon exercise of the Purchase Options and payment of the Exercise Price therefor,
in accordance with the terms hereby, all Shares and other securities issuable upon such exercise shall be duly and validly issued,
fully paid and non-assessable and not subject to preemptive rights of any shareholder. As long as the Purchase Options shall be
outstanding, the Company shall use its commercially reasonable efforts to cause all Shares issuable upon exercise of the Purchase
Options to be listed (subject to official notice of issuance) on all national securities exchanges (or, if applicable, on the OTC
Bulletin Board or any successor trading market) on which the Shares may then be listed and/or quoted.

 

    	 

    	 	

    
 

 

		7.	Certain Notice Requirements.

 

7.1          Holder's
Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holders the right to vote or consent or to
receive notice as a shareholder for the election of directors or any other matter, or as having any rights whatsoever as a shareholder
of the Company. If, however, at any time prior to the expiration of the Purchase Options and their exercise, any of the events
described in Section 7.2 shall occur, then, in one or more of said events, the Company shall give written notice of such event
at least ten days prior to the date fixed as a record date or the date of closing the transfer books for the determination of the
shareholders entitled to such dividend, distribution, conversion or exchange of securities or subscription rights, or entitled
to vote on such proposed dissolution, liquidation, winding up or sale. Such notice shall specify such record date or the date of
the closing of the transfer books, as the case may be. Notwithstanding the foregoing, the Company shall deliver to each Holder
a copy of each notice given to the other shareholders of the Company at the same time and in the same manner that such notice is
given to the shareholders.

 

7.2          Events Requiring
Notice. The Company shall be required to give the notice described in this Section 7 upon one or more of the following events:
(i) if the Company shall take a record of the holders of its Shares for the purpose of entitling them to receive a dividend or
distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out of retained earnings,
as indicated by the accounting treatment of such dividend or distribution on the books of the Company, (ii) the Company shall offer
to all the holders of its ordinary shares any additional shares of capital stock of the Company or securities convertible into
or exchangeable for shares of capital stock of the Company, or any option, right or warrant to subscribe therefor, or (iii) a dissolution,
liquidation or winding up of the Company (other than in connection with a consolidation or share reconstruction or amalgamation)
or a sale of all or substantially all of its property, assets and business shall be proposed.

 

7.3           Notice of
Change in Exercise Price. The Company shall, promptly after an event requiring a change in the Exercise Price pursuant to Section
5 hereof, send notice to the Holders of such event and change (“Price Notice”). The Price Notice shall describe
the event causing the change and the method of calculating same and shall be certified as being true and accurate by the Company's
Chief Financial Officer.

 

7.4           Transmittal
of Notices. All notices, requests, consents and other communications under this Purchase Option shall be in writing and shall
be deemed to have been duly made when hand delivered, or mailed by express mail or private courier service: (i) if to the registered
Holder of the Purchase Option, to the address of such Holder as shown on the books of the Company, or (ii) if to the Company, to
the following address or to such other address as the Company may designate by notice to the Holders:

 

If to the Holder:

 

Aegis Capital Corp.

810 Seventh Avenue, 11th Floor

New York, NY 10019

Attn: Mr. David Bocchi, Managing Director of

Investment Banking

Fax No.: (212) 813-1047

Copy to:

 

Zysman Aharoni Gayer and Sullivan & Worcester
LLP

1633 Broadway

New York, NY 10019

Attn: Oded Har-Even, Esq.

Fax No. (212) 660 3001

 

    	 

    	 	

    
 

If to the Company:

 

Rosetta Genomics Ltd.

10 Plaut Street, Science Park

Rehovot 76707 Israel

Attention: Kenneth A. Berlin

Fax No.: 972-73-222-0701

 

Copy to:

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

One Financial Center

Boston, MA 02111

Attention:
Brian Keane, Esq.

Fax
No.: (617) 542-2241

 

		8.	Miscellaneous.

 

8.1          Amendments.
The Company and Aegis may from time to time supplement or amend this Purchase Option without the approval of any third party in
order to cure any ambiguity, to correct or supplement any provision contained herein that may be defective or inconsistent with
any other provisions herein, or to make any other provisions in regard to matters or questions arising hereunder that the Company
and Aegis may deem necessary or desirable. Notwithstanding the above, Aegis shall have the right to reduce the number of the Shares
if necessary to comply with FINRA rules and regulations.

 

8.2          Headings.
The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the
meaning or interpretation of any of the terms or provisions of this Purchase Option.

 

8.3.          Entire
Agreement. This Purchase Option (together with the other agreements and documents being delivered pursuant to or in connection
with this Purchase Option) constitutes the entire agreement of the parties hereto with respect to the subject matter hereof, and
supersedes all prior agreements and understandings of the parties, oral and written, with respect to the subject matter hereof.

 

8.4           Binding
Effect. This Purchase Option shall inure solely to the benefit of and shall be binding upon, the Holder and the Company and
their permitted assignees, respective successors, legal representative and assigns, and no other person shall have or be construed
to have any legal or equitable right, remedy or claim under or in respect of or by virtue of this Purchase Option or any provisions
herein contained.

 

8.5           Governing
Law; Submission to Jurisdiction. This Purchase Option shall be governed by and construed and enforced in accordance with the
laws of the State of New York, without giving effect to conflict of laws principles thereof. The Company hereby agrees that any
action, proceeding or claim against it arising out of, or relating in any way to this Purchase Option shall be brought and enforced
in the New York Supreme Court, County of New York, or in the United States District Court for the Southern District of New York,
and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to
such exclusive jurisdiction and that such courts represent an inconvenient forum. Any process or summons to be served upon the
Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid,
addressed to it at the address set forth in Section 7 hereof. Such mailing shall be deemed personal service and shall be legal
and binding upon the Company in any action, proceeding or claim. The Company and the Holder agree that the prevailing party(ies)
in any such action shall be entitled to recover from the other party(ies) all of its reasonable attorneys' fees and expenses relating
to such action or proceeding and/or incurred in connection with the preparation therefor.

 

    	 

    	 	

    
 

 

8.6           Waiver,
etc. The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase Option shall not
be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Purchase Option or any
provision hereof or the right of the Company or any Holder to thereafter enforce each and every provision of this Purchase Option.
No waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this Purchase Option shall be effective
unless set forth in a written instrument executed by the party or parties against whom or which enforcement of such waiver is sought;
and no waiver of any such breach, non-compliance or non-fulfillment shall be construed or deemed to be a waiver of any other or
subsequent breach, non-compliance or non-fulfillment.

 

8.7           Execution
in Counterparts. This Purchase Option may be executed in one or more counterparts, and by the different parties hereto in separate
counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same
agreement, and shall become effective when one or more counterparts has been signed by each of the parties hereto and delivered
to each of the other parties hereto. Such counterparts may be delivered by facsimile transmission or other electronic transmission.

 

[Remainder of page intentionally
left blank]

 

    	 

    	 	

    
 

IN WITNESS WHEREOF, the Company has caused
this Purchase Option to be signed by its duly authorized officer as of the ____ day of _____, 2012.

 

 

Rosetta Genomics Ltd.

 

 

		By:	_________________________________

Name:
Kenneth A. Berlin

Title:
Chief Executive Officer

 

    	 

    	 	

    
   

[Form to be used to
exercise Purchase Option:]

 

 

 

Date: __________, 20___

 

 

 

The undersigned
hereby elects irrevocably to exercise the Purchase Option for ______ ordinary shares of the Company and hereby makes payment of
$____ (at the rate of $____ per Share) in payment of the Exercise Price pursuant thereto. Please issue the Shares as to which this
Purchase Option is exercised in accordance with the instructions given below and, if applicable, a new Purchase Option representing
the number of Shares for which this Purchase Option has not been exercised.

 

or

 

The undersigned
hereby elects irrevocably to convert its right to purchase ___ Shares under the Purchase Option for ______ Shares, as determined
in accordance with the following formula:

 

	X	=	Y(A-B)	 
	A	 
	Where,	
        X
	=	The number of Shares to be issued to Holder;
	 	Y	=	The number of Shares for which the Purchase Option is being exercised;
	 	A	=	The fair market value of one Share which is equal to $_____; and
	 	B	=	The Exercise Price which is equal to $_____ per share.
	 	 	 	 	 	 

 

The undersigned
agrees and acknowledges that the calculation set forth above is subject to confirmation by the Company and any disagreement with
respect to the calculation shall be resolved by the Company in its sole discretion.

 

Please issue
the Shares as to which this Purchase Option is exercised in accordance with the instructions given below and, if applicable, a
new Purchase Option representing the number of Shares for which this Purchase Option has not been converted.

 

Signature

 

 

 

Signature Guaranteed

 

    	 

    	 	

    
 

INSTRUCTIONS FOR REGISTRATION OF SECURITIES

 

Name:

 

(Print in Block Letters)

 

Address:

 

 

 

NOTICE: The signature
to this form must correspond with the name as written upon the face of the Purchase Option without alteration or enlargement or
any change whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership
on a registered national securities exchange.

 

    	 

    	 	

    
 

[Form to be used to assign Purchase Option:]

 

ASSIGNMENT

 

(To be executed by the registered Holder
to effect a transfer of the within Purchase Option):

 

 

 

FOR VALUE RECEIVED, __________________
does hereby sell, assign and transfer unto the right to purchase shares of Rosetta Genomics Ltd (the “Company”)
evidenced by the Purchase Option and does hereby authorize the Company to transfer such right on the books of the Company.

 

 

 

Dated: __________, 20__

 

 

 

 

Signature

 

 

 

 

Signature Guaranteed

 

 

 

 

NOTICE: The signature
to this form must correspond with the name as written upon the face of the within Purchase Option without alteration or enlargement
or any change whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having
membership on a registered national securities exchange.

 

    	 

    	 	

    

 

ANNEX A

 

UNDERTAKING

 

		To:	The Research Committee

The Office of the Chief
Scientist

Jerusalem

 

Relating to projects that have been financed
by or are currently being financed by the Office of the Chief Scientist of the Ministry of Industry, Trade and Labor (the "OCS")
[Please specify project title and OCS' file number] and to projects of the Company (as this term is defined below) that
may be financed by the OCS in the future (the "Projects").

 

Undertaking

 

We, the undersigned of [Foreign investor's name] a company
incorporated, organized and existing under the laws of [ ] and whose registered office is at [ ] ("   "),
having, by an agreement dated [ ], committed to invest in Rosetta Genomics Ltd. (the "Company"), in exchange for [number
and type of shares] shares of the Company;

 

Recognizing that the Company's research
and development Projects are currently, have been or will be financially supported by the Government of the State of Israel, through
the OCS under and subject to the provisions of The Encouragement of Research and Development in Industry Law 5744-1984 (the "R&D
Law") and the regulations, rules and procedures promulgated there under;

 

Recognizing that the R&D Law places
strict constraints on the transfer of know-how and/or production rights, making all such transfers subject to the absolute discretion
of the OCS' research committee (the "Research Committee"), acting in accordance with the aims of the R&D Law
and requiring that any such transfer receive the prior written approval of the Research Committee;

 

Hereby declare and undertake:

		1.	To observe strictly all the requirements of the R&D Law and the regulations, rules and procedures
promulgated there under, as applied to the Company and as directed by the Research Committee, in particular those requirements
stipulated under Sections 19, 19A and 19B of the R&D Law relating to the prohibitions on the transfer of know-how and/or production
rights.

 

		2.	As a shareholder of the Company, to make all reasonable
efforts that the Company shall observe strictly all the requirements of the R&D Law and the regulations, rules
and procedures promulgated there under, as applied to the Company and as directed by the Research Committee, in particular
those requirements stipulated under Sections 19, 19A and 19B of the R&D Law relating to the prohibitions on the transfer of
know-how and/or production rights.

 

	 	 	 
	Date 	 	Name (block letters) and signature of Authorized Company Representative and Company SealEXECUTION VERSION

 

REVOLVING CREDIT, TERM LOAN

AND

SECURITY AGREEMENT

 

 

PLATINUM PARTNERS VALUE ARBITRAGE FUND,
L.P.

(AS AGENT AND AS REVOLVING CREDIT LENDER)

 

AND

 

THE OTHER LENDERS PARTY HERETO

(AS TERM LOAN LENDERS)

 

WITH

 

ABSOLUTE LIFE SOLUTIONS, INC.

(BORROWER)

 

 

July 31, 2012

 

    	 

    	 	

    
 

TABLE OF CONTENTS

 

Page

 

	ARTICLE I	DEFINITIONS	1
	1.1	Accounting Terms.	1
	1.2	General Terms.	1
	1.3	Uniform Commercial Code Terms.	15
	1.4	Certain Matters of Construction.	15
	 	 	 
	ARTICLE II	ADVANCES, PAYMENTS	16
	2.1	Revolving Advances.	16
	2.2	Procedure for Revolving Advances Borrowings.	16
	2.3	Term Loan.	17
	2.4	Disbursement of Advance Proceeds; Repayment of Advances.	17
	2.5	Repayment of Excess Advances.	18
	2.6	Statement of Account.	18
	2.7	Additional Payments.	18
	2.8	Manner of Borrowing and Payment.	19
	2.9	Voluntary Prepayments.	20
	2.10	Use of Proceeds.	21
	 	 	 
	ARTICLE III	INTEREST AND FEES	21
	3.1	Interest.	21
	3.2	Computation of Interest and Fees.	21
	3.3	Maximum Charges.	21
	3.4	Increased Costs.	22
	3.5	Capital Adequacy.	22
	3.6	Gross Up for Taxes.	23
	3.7	Withholding Tax Exemption.	23
	3.8	Survival of Obligations.	24
	 	 	 
	ARTICLE IV	COLLATERAL; GENERAL TERMS	24
	4.1	Security Interest in the Collateral.	24
	4.2	Perfection of Security Interest.	25
	4.3	Pledged Interests.	26
	4.4	Disposition of Collateral.	27
	4.5	Preservation of Collateral.	28
	4.6	Ownership of Collateral.	28
	4.7	Defense of Agent’s and Lenders’ Interests.	29
	4.8	Books and Records.	29
	4.9	Financial Disclosure.	30
	4.10	Compliance with Laws.	30
	4.11	Inspection of Premises.	30
	4.12	Insurance.	31
	4.13	Failure to Pay Insurance.	31
	4.14	Payment of Taxes.	32

 

    	i

    	 

    
 

	4.15	Payment of Leasehold Obligations.	32
	4.16	Payment of Premiums.	32
	4.17	Exculpation of Liability.	32
	4.18	Environmental Matters.	33
	4.19	Financing Statements.	34
	4.20	Appraisals.	34
	 	 	 
	ARTICLE V	REPRESENTATIONS AND WARRANTIES	35
	5.1	Authority.	35
	5.2	Formation and Qualification.	35
	5.3	Survival of Representations and Warranties.	36
	5.4	Tax Returns.	36
	5.5	Entity Name and Locations.	36
	5.6	O.S.H.A. and Environmental Compliance.	36
	5.7	Financial Condition; No Litigation, Violation, Indebtedness or Default.	37
	5.8	Licenses and Permits.	37
	5.9	Default of Indebtedness.	37
	5.10	No Default.	37
	5.11	No Burdensome Restrictions.	37
	5.12	Margin Regulations.	38
	5.13	Financial Condition; No Material Adverse Change.	38
	5.14	Disclosure.	38
	5.15	Conflicting Agreements.	38
	5.16	Application of Certain Laws and Regulations.	38
	5.17	Business and Property of Borrower.	39
	5.18	Anti-Terrorism Laws.	39
	5.19	Trading with the Enemy.	40
	5.20	Equity Interests.	40
	5.21	Commercial Tort Claims.	40
	5.22	Letter of Credit Rights.	40
	5.23	Material Contracts.	40
	5.24	SEC Documents, Financial Statements.	40
	 	 	 
	ARTICLE VI	AFFIRMATIVE COVENANTS	41
	6.1	Payment of Fees.	41
	6.2	Conduct of Business and Maintenance of Existence and Assets.	41
	6.3	Violations.	41
	6.4	Execution of Supplemental Instruments.	42
	6.5	Payment of Indebtedness.	42
	6.6	Standards of Financial Statements.	42
	6.7	Compliance With Asset Documents and Operating Policies and Practices.	42
	6.8	Perfection of Security Interest in Policies.	42
	6.9	Registration and Listing.	42
	 	 	 
	ARTICLE VII	NEGATIVE COVENANTS	43
	7.1	Merger, Consolidation, Acquisition and Sale of Assets.	43
	7.2	Creation of Liens.	43

 

    	ii

    	 

    
 

	7.3	Guarantees.	43
	7.4	Investments.	43
	7.5	Loans.	43
	7.6	Capital Expenditures.	43
	7.7	Dividends and Distributions; Other Payments.	44
	7.8	Indebtedness.	44
	7.9	Nature of Business.	44
	7.10	Transactions with Affiliates.	44
	7.11	Leases.	44
	7.12	Subsidiaries.	44
	7.13	Fiscal Year and Accounting Changes.	44
	7.14	Pledge of Credit.	44
	7.15	Amendment of Organizational Documents.	45
	7.16	ERISA Plans.	45
	7.17	Prepayment of Indebtedness.	45
	7.18	Anti-Terrorism Laws.	45
	7.19	Restrictive Agreements	45
	7.20	Trading with the Enemy Act.	45
	7.21	Additional Negative Pledges.	46
	 	 	 
	ARTICLE VIII	CONDITIONS PRECEDENT	46
	8.1	Conditions to Initial Advances	46
	8.2	Conditions to Each Advance	47
	 	 	 
	ARTICLE IX	INFORMATION AS TO BORROWERS	48
	9.1	Disclosure of Material Matters.	48
	9.2	Environmental Reports.	48
	9.3	Litigation.	48
	9.4	Material Occurrences.	48
	9.5	Annual Financial Statements.	48
	9.6	Quarterly Financial Statements.	49
	9.7	Other Reports.	49
	9.8	Additional Information.	49
	9.9	Notice of Suits, Adverse Events.	49
	9.10	Additional Documents.	49
	 	 	 
	ARTICLE X	EVENTS OF DEFAULT	50
	10.1	Nonpayment.	50
	10.2	Breach of Representation.	50
	10.3	Financial Information.	50
	10.4	Judicial Actions.	50
	10.5	Noncompliance.	50
	10.6	Judgments.	50
	10.7	Bankruptcy.	51
	10.8	Inability to Pay.	51
	10.9	Material Adverse Effect.	51
	10.10	Lien Priority.	51

 

    	iii

    	 

    
 

	10.11	General Cross Default.	52
	10.12	Change of Control.	52
	10.13	Invalidity.	52
	10.14	Licenses.	52
	10.15	Seizures.	52
	 	 	 
	ARTICLE XI	LENDERS’ RIGHTS AND REMEDIES AFTER DEFAULT	53
	11.1	Rights and Remedies.	53
	11.2	Agent’s Discretion.	54
	11.3	Setoff.	55
	11.4	Rights and Remedies not Exclusive.	55
	11.5	Allocation of Payments After Event of Default.	55
	 	 	 
	ARTICLE XII	WAIVERS AND JUDICIAL PROCEEDINGS	56
	12.1	Waiver of Notice.	56
	12.2	Delay.	56
	12.3	Jury Waiver.	56
	 	 	 
	ARTICLE XIII	EFFECTIVE DATE AND TERMINATION	57
	13.1	Term.	57
	13.2	Termination.	57
	 	 	 
	ARTICLE XIV	REGARDING AGENT	57
	14.1	Appointment.	57
	14.2	Nature of Duties.	58
	14.3	Lack of Reliance on Agent and Resignation.	58
	14.4	Certain Rights of Agent.	59
	14.5	Reliance.	59
	14.6	Notice of Default.	60
	14.7	Indemnification.	60
	14.8	Agent in its Individual Capacity.	60
	14.9	Borrower’s Undertaking to Agent.	61
	14.10	No Reliance on Agent’s Obligor Identification Program.	61
	14.11	Other Agreements.	61
	 	 	 
	ARTICLE XV	MISCELLANEOUS	61
	15.1	Governing Law.	61
	15.2	Entire Understanding.	62
	15.3	Successors and Assigns; Participations; New Lenders.	63
	15.4	Application of Payments.	65
	15.5	Indemnity.	65
	15.6	Notice.	66
	15.7	Survival.	67
	15.8	Severability.	67
	15.9	Expenses.	68
	15.10	Injunctive Relief.	68
	15.11	Damages.	68

 

    	iv

    	 

    
 

	15.12	Captions.	68
	15.13	Counterparts; Facsimile Signatures.	68
	15.14	Construction.	69
	15.15	Certifications From Banks and Participants; USA PATRIOT Act.	69

 

    	v

    	 

    
 

List of Exhibits and Schedules

 

Exhibits

 

	Exhibit 1.2(a)	Compliance Certificate
	Exhibit 2.2	Form of Advance Request
	Exhibit 15.3	Commitment Transfer Supplement
	 	 
	Schedules	 
	 	 
	Schedule 1.2(a)	Policies
	Schedule 1.2(b)	Preferred Shares; Warrants
	Schedule 1.2(c)	Policy File
	Schedule 1.2(d)	Pledged Stock
	Schedule 4.6(a)	Policy Co-Owners
	Schedule 4.6(d)	Places of Business; Chief Executive Offices; Locations of Real Property
	Schedule 5.1	Consents
	Schedule 5.2	States of Formation, Qualification and Good Standing
	Schedule 5.4	Federal Tax Identification Number; Tax Returns
	Schedule 5.5	Prior Names
	Schedule 5.7	Litigation
	Schedule 5.20	Equity Interests
	Schedule 5.21	Commercial Tort Claims
	Schedule 5.22	Letter of Credit Rights
	Schedule 5.23	Material Contracts

 

    	vi

    	 

    
 

REVOLVING CREDIT,
TERM LOAN

AND

SECURITY AGREEMENT

 

Revolving Credit, Term
Loan and Security Agreement dated as of July 31, 2012 among ABSOLUTE LIFE SOLUTIONS, INC., a Nevada corporation (the “Borrower”),
PLATINUM PARTNERS VALUE ARBITRAGE FUND, L.P., as initial Revolving Credit Lender
and the other Persons that are now or hereafter become a party hereto (collectively, together with the Revolving Credit Lender,
the “Lenders” and individually a “Lender”), and PLATINUM
PARTNERS VALUE ARBITRAGE FUND, L.P., as agent for Lenders (in such capacity, the “Agent”).

 

IN CONSIDERATION of
the mutual covenants and undertakings herein contained, Borrower, Lenders and Agent hereby agree as follows:

 

ARTICLE
I

DEFINITIONS

 

1.1          Accounting
Terms.

 

As used in this Agreement,
the Other Documents or any certificate, report or other document made or delivered pursuant to this Agreement, accounting terms
not defined in Section 1.2 or elsewhere in this Agreement and accounting terms partly defined in Section 1.2 to the extent not
defined, shall have the respective meanings given to them under GAAP.

 

1.2          General
Terms.

 

For purposes of this
Agreement the following terms shall have the following meanings:

 

“Accountants”
shall have the meaning set forth in Section 9.5.

 

“Advances”
shall mean and include the Revolving Advances and the Term Loan.

 

“Affiliate”
of any Person shall mean (a) any other Person which, directly or indirectly, is in control of, is controlled by, or is under common
control with such Person, or (b) any Person who is a director, manager, member, managing member, general partner or officer (i)
of such Person, (ii) of any Subsidiary of such Person or (iii) of any Person described in clause (a) above. For purposes of this
definition, control of a Person shall mean the power, direct or indirect, (x) to vote 10% or more of the Equity Interests having
ordinary voting power for the election of directors of such Person or other Persons performing similar functions for any such Person,
or (y) to direct or cause the direction of the management and policies of such Person whether by ownership of Equity Interests,
contract or otherwise.

 

“Agent”
shall have the meaning set forth in the preamble to this Agreement and shall include its successors and assigns.

 

    	 

    	 	2

    
 

“Agreement”
shall mean this Revolving Credit, Term Loan and Security Agreement, as the same may be amended, restated, supplemented or otherwise
modified from time to time.

 

“Anti-Terrorism
Laws” shall mean any Applicable Laws relating to terrorism or money laundering, including Executive Order No. 13224,
the USA PATRIOT Act, the Applicable Laws comprising or implementing the Bank Secrecy Act, and the Applicable Laws administered
by the United States Treasury Department’s Office of Foreign Asset Control (as any of the foregoing Applicable Laws may from
time to time be amended, renewed, extended, or replaced).

 

“Applicable
Law” shall mean all laws, rules and regulations applicable to the Person, conduct, transaction, covenant, Other Document
or contract in question, including all applicable common law and equitable principles; all provisions of all applicable state,
federal and foreign constitutions, statutes, rules, regulations, treaties, directives and orders of any Governmental Body, and
all orders, judgments and decrees of all courts and arbitrators.

 

“Appraisal”
shall mean an appraisal performed by an appraiser selected by Agent, in form and substance satisfactory to Agent.

 

“Authority”
shall have the meaning set forth in Section 4.18(d).

 

“Benefited
Lender” shall have the meaning set forth in 2.8(d).

 

“Blocked Person”
shall have the meaning set forth in Section 5.18(b).

 

“Borrower”
shall have the meaning set forth in the preamble to this Agreement and shall extend to all permitted successors and assigns of
such Person.

 

“Borrower’s
Account” shall have the meaning set forth in Section 2.6.

 

“Business
Day” shall mean any day other than Saturday or Sunday or a legal holiday on which commercial banks are authorized or
required by law to be closed for business in New York, New York.

 

“Capital Expenditures”
shall mean expenditures made or liabilities incurred for the acquisition of any fixed assets or improvements, replacements, substitutions
or additions thereto which have a useful life of more than one year, including the total principal portion of Capitalized Lease
Obligations, which in accordance with GAAP, would be classified as capital expenditures.

 

“Capitalized
Lease Obligation” shall mean any Indebtedness of Borrower represented by obligations under a lease that is required to
be capitalized for financial reporting purposes in accordance with GAAP.

 

“CERCLA”
shall mean the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, 42 U.S.C. §§9601
et seq.

 

    	 

    	 	3

    
 

“Change in
Law” shall mean the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or taking
effect of any Applicable Law, (b) any change in any Applicable Law or in the administration, interpretation or application thereof
by any Governmental Body or (c) the making or issuance of any request, guideline or directive (whether or not having the force
of law) by any Governmental Body; provided however, for purposes of this Agreement, the Dodd-Frank Wall Street Reform and Consumer
Protection Act and all requests, guidelines and directives in connection therewith are deemed to have gone into effect and adopted
after the date of this Agreement, and provided further, for purposes of Section 3.5, all requests, rules, guidelines or directives
promulgated by the Bank of International Settlements, the Basel Committee on Banking Regulations and Supervisory Practices (or
any successor or similar authority) or the United States financial regulatory authorities with respect to capital adequacy shall
be deemed to be a Change in Law regardless of the date adopted, issued, promulgated or implemented.

 

“Change of
Control” shall mean (a) the occurrence of any event (whether in one or more transactions) which results in a transfer
of control of or the power to vote fifty percent (50%) or more of the Equity Interests of Borrower entitled
to vote for the election of directors of Borrower (on a fully diluted basis), or (b) any merger, consolidation or sale of
substantially all of the property or assets of Borrower. For purposes of this definition, “control” of any Person shall
mean the power, direct or indirect (x) to vote fifty percent (50%) or more of the Equity Interests having ordinary voting power
for the election of directors (or the individuals performing similar functions) of such Person or (y) to direct or cause the direction
of the management and policies of such Person by contract or otherwise.

 

“Charges”
shall mean all taxes, charges, fees, imposts, levies or other assessments, including all net income, gross income, gross receipts,
sales, use, ad valorem, value added, transfer, franchise, profits, inventory, capital stock, license, withholding, payroll, employment,
social security, unemployment, excise, severance, stamp, occupation and property taxes, custom duties, fees, assessments, liens,
claims and charges of any kind whatsoever, together with any interest and any penalties, additions to tax or additional amounts,
imposed by any taxing or other authority, domestic or foreign (including the Pension Benefit Guaranty Corporation or any environmental
agency or superfund), upon the Collateral, Borrower or any of its Affiliates.

 

“Closing Date”
shall mean July 31, 2012 or such other date as may be agreed to by the parties hereto.

 

“Code”
shall mean the Internal Revenue Code of 1986, as the same may be amended or supplemented from time to time, and any successor statute
of similar import, and the rules and regulations thereunder, as from time to time in effect.

 

“Collateral”
shall mean all of Borrower’s right, title and interest in and to all of the following property and interests in property,
in each case whether tangible or intangible and whether now owned or existing or hereafter arising or acquired and wheresoever
located:

 

(a)          all
Policies, Records and other property and interests in property related thereto or pledged as collateral therefor, including, without
limitation, all related Polices and all Collections and other moneys due and to become due under or in connection with any of the
foregoing (whether in respect of principal, interest, fees, expenses, indemnities, death benefits or otherwise);

 

    	 

    	 	4

    
 

(b)          all
right, title and interest of Borrower in, to and under all Policy Documents, including, without limitation, all other moneys due
and to become due under or in connection with any of the foregoing (whether in respect of principal, interest, fees, expenses,
indemnities, or otherwise);

 

(c)          all
right, title and interest of Borrower in, to and under all bank and similar accounts relating to the collection of Policies and
other Collateral and all funds held therein or in such other accounts, and all investments made with funds in such accounts;

 

(d)          
(i) all of the Pledged Stock, (ii) all additional equity interests or securities at any time distributed or issued by Infinity
to Borrower (together with the Pledged Stock described in clause (i), the “Pledged Interests”); (iii) the certificates
(if any) from time to time evidencing all of the Pledged Interests (collectively, the “Pledged Certificates”);
(iv) all dividends, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect
of or in exchange for any or all of the Pledged Interests; and (v) all proceeds of any of the foregoing (including, without limitation,
proceeds constituting any property of the types described above) (collectively, the “Pledged Collateral”);

 

(e)          all
equipment, inventory, accounts, general intangibles, payment intangibles, instruments, investment property, documents, chattel
paper, goods, moneys, letters of credit, letter of credit rights, certificates of deposit, deposit accounts and all other property
and interests in property of Borrower, whether tangible or intangible and whether now owned or existing or hereafter arising or
acquired and wheresoever located; and

 

(f)          all
proceeds of the foregoing property described in clauses (a) through (f) above, including, without limitation, proceeds
which constitute property of the type described in clauses (a) through (f) above and, to the extent not otherwise included,
all (i) payments under any insurance policy (whether or not Agent or any Lender is the loss payee thereof), indemnity, warranty
or guaranty payable by reason of loss or damage to or otherwise with respect to any of the foregoing and (ii) interest, dividends,
cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange
for or on account of the sale or other disposition of any or all of the then existing Collateral.

 

“Collections”
shall mean (a) all cash collections and other cash proceeds of any Policy included in the Collateral, including, without limitation,
all Net Death Benefits and all prepayments, recoveries, investment earnings, insurance proceeds, fees and other cash proceeds with
respect to such Policy available for application to amounts payable in respect of such Policy, and (b) all other cash collections
and other cash proceeds of the Collateral.

 

“Commitment
Percentage” shall mean (i) as to each Revolving Credit Lender, its Revolving Credit Commitment Percentage and (ii) as
to each Term Loan Lender, its Term Loan Commitment Percentage.

 

    	 

    	 	5

    
 

“Commitment
Transfer Supplement” shall mean a document in the form of Exhibit 15.3, properly completed and otherwise in form and
substance satisfactory to Agent by which the Purchasing Lender (i) purchases and assumes all or a portion of the obligation of
a transferor Lender holding a Revolving Credit Commitment Percentage to make Revolving Advances under this Agreement and/or (ii)
purchases all or a portion of a transferor Lender’s interests in the Revolving Advances and/or Term Loan.

 

“Compliance Certificate”
shall mean a compliance certificate substantially in the form of Exhibit 1.2(a) to be signed by the President, Chief Executive
Officer or Chief Financial Officer of Borrower, which shall state that, based on an examination sufficient to permit such officer
to make an informed statement, (i) no Default or Event of Default exists, or if such is not the case, specifying such Default or
Event of Default, its nature, when it occurred, whether it is continuing and the steps being taken by Borrower with respect to
such default and (ii) that to the best of such officer’s knowledge, Borrower is in compliance in all material respects with
all federal, state and local Environmental Laws, or if such is not the case, specifying all areas of non-compliance and the proposed
action the Borrowers will implement in order to achieve full compliance.

 

“Consents”
shall mean all filings and all licenses, permits, consents, approvals, authorizations, qualifications and orders of Governmental
Bodies and other third parties, domestic or foreign, necessary to carry on Borrower’s business or necessary (including to
avoid a conflict or breach under any agreement, instrument, other document, license, permit or other authorization) for the execution,
delivery or performance of this Agreement or the Other Documents, including any Consents required under all applicable federal,
state or other Applicable Law.

 

“Consolidated”
or “consolidated” with reference to any term defined herein, shall mean that term as applied to the accounts
of the Company and all of its consolidated Subsidiaries, consolidated in accordance with GAAP.

 

“Contract
Rate” shall have the meaning set forth in Section 3.1.

 

“Default”
shall mean an event, circumstance or condition which, with the giving of notice or passage of time or both, would constitute an
Event of Default.

 

“Default Rate”
shall have the meaning set forth in Section 3.1.

 

“Dollar”
and the sign “$” shall mean lawful money of the United States of America.

 

“Environmental Complaint”
shall have the meaning set forth in Section 4.19(d) hereof.

 

“Environmental
Laws” shall mean all federal, state and local environmental, land use, zoning, health, chemical use, safety and sanitation
laws, statutes, ordinances and codes relating to the protection of the environment and/or governing the use, storage, treatment,
generation, transportation, processing, handling, production or disposal of Hazardous Substances and the rules, regulations, policies,
guidelines, interpretations, decisions, orders and directives of federal, state and local governmental agencies and authorities
with respect thereto.

 

    	 

    	 	6

    
 

“Equity Interests”
of any Person shall mean any and all shares, rights to purchase, options, warrants, general, limited or limited liability partnership
interests, member interests, participation or other equivalents of or interest in (regardless of how designated) equity of such
Person, whether voting or nonvoting, including common stock, preferred stock, convertible securities or any other “equity
security” (as such term is defined in Rule 3a11-1 of the General Rules and Regulations promulgated by the SEC under the Exchange
Act), including in each case all of the following rights relating to such Equity Interests, whether arising under the Organizational
Documents of the Person issuing such Equity Interests (the “issuer”) or under the applicable laws of such issuer’s
jurisdiction of organization relating to the formation, existence and governance of corporations, limited liability companies or
partnerships or business trusts or other legal entities, as applicable; (i) all economic rights (including all rights to receive
dividends and distributions), (ii) all voting rights and rights to consent to any particular action(s) by the applicable issuer,
(iii) all management rights with respect to such issuer, (iv) in the case of any Equity Interests consisting of a general partner
interest in a partnership, all powers and rights as a general partner with respect to the management, operations and control of
the business and affairs of the applicable issuer, (v) in the case of any Equity Interests consisting of the membership/limited
liability company interests of a managing member in a limited liability company, all powers and rights as a managing member with
respect to the management, operations and control of the business and affairs of the applicable issuer, (vi) all rights to designate
or appoint or vote for or remove any officers, directors, manager(s), general partner(s), managing member(s) and/or any members
of any board of members/managers/partners/directors that may at any time have any rights to manage and direct the business and
affairs of the applicable issuer under its Organizational Documents as in effect from time to time, (vii) all rights to amend the
Organizational Documents of such issuer, (viii) in the case of any Equity Interests in a partnership or limited liability company,
the status of the holder of such Equity Interests as a “partner”, general or limited, or “member” (as applicable)
under the applicable Organizational Documents and/or applicable state law and (ix) all certificates evidencing such Equity Interests.

 

“ERISA”
shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time and the rules and regulations promulgated
thereunder.

 

“Event of
Default” shall have the meaning set forth in ARTICLE X.

 

“Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended.

 

“Excluded
Taxes” shall mean, with respect to Agent, any Lender or any other recipient of any payment to be made by or on account
of any obligation of Borrower hereunder, (a) taxes imposed on or measured by its overall net income (however denominated), and
franchise taxes imposed on it (in lieu of net income taxes), by the jurisdiction (or any political subdivision thereof) under the
laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its
applicable lending office is located, (b) any branch profits taxes imposed by the United States of America or any similar tax imposed
by any other jurisdiction in which Borrower is located and (c) in the case of a Foreign Lender, any withholding tax that is imposed
on amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party hereto (or designates a new lending office)
or is attributable to such Foreign Lender's failure or inability (other than as a result of a Change in Law) to comply with Section
3.7, except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new
lending office (or assignment), to receive additional amounts from the Borrower with respect to such withholding tax pursuant to
Section 3.6.

 

    	 

    	 	7

    
 

“Executive
Order No. 13224” shall mean the Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001, as the
same has been, or shall hereafter be, renewed, extended, amended or replaced.

 

“GAAP”
shall mean generally accepted accounting principles in the United States of America in effect from time to time.

 

“Governmental
Body” shall mean the government of the United States of America or any other nation, or of any political subdivision
thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity
exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government
(including any supra-national bodies such as the European Union or the European Central Bank).

 

“Guarantor”
shall mean any Person who may hereafter guarantee payment or performance of the whole or any part of the Obligations, and “Guarantors”
shall mean collectively all such Persons.

 

“Guaranty”
shall mean any guaranty of the obligations of Borrower executed by a Guarantor in favor of Agent for its benefit and for the ratable
benefit of Lenders, in form and substance satisfactory to Agent.

 

“Hazardous
Discharge” shall have the meaning set forth in Section 4.18(d).

 

“Hazardous
Substance” shall mean, without limitation, any flammable explosives, radon, radioactive materials, asbestos, urea formaldehyde
foam insulation, polychlorinated biphenyls, petroleum and petroleum products, methane, hazardous materials, Hazardous Wastes, hazardous
or Toxic Substances or related materials as defined in CERCLA, the Hazardous Materials Transportation Act, as amended (49 U.S.C.
Sections 1801, et seq.), RCRA, Articles 15 and 27 of the New York State Environmental Conservation Law or any other applicable
Environmental Law and in the regulations adopted pursuant thereto.

 

“Hazardous
Wastes” shall mean all waste materials subject to regulation under CERCLA, RCRA or applicable state law, and any other
applicable Federal and state laws now in force or hereafter enacted relating to hazardous waste disposal.

 

“Indebtedness”
of a Person at a particular date shall mean all obligations of such Person which in accordance with GAAP would be classified upon
a balance sheet as liabilities (except capital stock and surplus earned or otherwise) and in any event, without limitation by reason
of enumeration, shall include all indebtedness, debt and other similar monetary obligations of such Person whether direct or guaranteed,
and all premiums, if any, due at the required prepayment dates of such indebtedness, and all indebtedness secured by a Lien on
assets owned by such Person, whether or not such indebtedness actually shall have been created, assumed or incurred by such Person.
Any indebtedness of such Person resulting from the acquisition by such Person of any assets subject to any Lien shall be deemed,
for the purposes hereof, to be the equivalent of the creation, assumption and incurring of the indebtedness secured thereby, whether
or not actually so created, assumed or incurred.

 

    	 

    	 	8

    
 

“Indemnified
Taxes” shall mean Taxes other than Excluded Taxes.

 

“Infinity”
shall mean Infinity Augmented Reality LLC, a Nevada limited liability company.

 

“Insured”
shall mean the named insured under a Policy.

 

“Leasehold
Interests” shall mean all of Borrower’s right, title and interest in and to, and as lessee of, the premises identified
on Schedule 4.6.

 

“Lender”
and “Lenders” shall have the meaning ascribed to such term in the preamble to this Agreement and shall include
each Person which becomes a transferee, successor or assign of any Lender.

 

“Lien”
shall mean any mortgage, deed of trust, pledge, hypothecation, assignment, security interest, lien (whether statutory or otherwise),
Charge, claim or encumbrance, or preference, priority or other security agreement or preferential arrangement held or asserted
in respect of any asset of any kind or nature whatsoever including any conditional sale or other title retention agreement, any
lease having substantially the same economic effect as any of the foregoing, and the filing of, or agreement to give, any financing
statement under the Uniform Commercial Code or comparable laws of any jurisdiction.

 

“Life Settlement
Provider” shall mean any licensed life settlement provider approved from time to time in writing by Agent acting in its
sole discretion.

 

“Material
Adverse Effect” shall mean a material adverse effect on (a) the condition (financial or otherwise), results of operations,
assets, business, properties or prospects of Borrower or any Guarantor, (b) Borrower’s ability to duly and punctually pay
or perform the Obligations in accordance with the terms thereof or any Guarantor’s ability to duly and punctually pay or
perform its obligations under its Guaranty in accordance with the terms thereof, (c) the value of the Collateral, or Agent’s
Liens on the Collateral or the priority of any such Lien or (d) the practical realization of the benefits of Agent’s and
each Lender’s rights and remedies under this Agreement and the Other Documents.

 

“Material
Contract” shall mean any contract, agreement, instrument, permit, lease or license, written or oral, of Borrower, which
are material to Borrower’s business or which, the failure to comply with, could reasonably be expected to result in a Material
Adverse Effect.

 

“Maximum Loan
Amount” shall mean $67,150,000 less repayments of the Term Loan.

 

“Maximum Revolving
Advance Amount” shall mean $10,000,000.

 

    	 

    	 	9

    
 

“Multiemployer
Plan” hall mean a Plan that is a “multiemployer plan” as defined in Section 3(37) or 4001(a)(3) of ERISA
to which contributions are required or within the preceding 5 plan years were required, by Borrower or any member of the Controlled
Group.

 

“Multiple
Employer Plan” shall mean a Plan which has two or more contributing sponsors (including Borrower or any member of the
Controlled Group) at least two of whom are not under common control, as such a plan is described in Section 4063 or 4064 of
ERISA.

 

“Net Death
Benefit” shall mean, with respect to any Policy, as of any date of determination, the death benefit payable under such
Policy net of any Policy Loan (and accrued interest) as of such date of determination.

 

“Obligations”
shall mean and include any and all loans (including without limitation, all Advances), advances, debts, liabilities, obligations,
covenants and duties owing by Borrower to Lenders or Agent or to any other direct or indirect subsidiary or affiliate of Agent
or any Lender, of any kind or nature, present or future (including any interest, fees or other amounts accruing thereon or with
respect thereto, and any costs and expenses of any Person payable by Borrower and any indemnification obligations payable by Borrower
arising or payable after maturity, or after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization
or like proceeding relating to Borrower, whether or not a claim for post-filing or post-petition interest, fees or other amounts
is allowable or allowed in such proceeding), whether or not evidenced by any note, guaranty or other instrument, whether arising
under any agreement, instrument or document, whether or not for the payment of money, whether arising by reason of an extension
of credit, opening of a letter of credit, loan, equipment lease or guarantee, under any interest or currency swap, future, option
or other similar agreement, or in any other manner, whether arising out of overdrafts or deposit or other accounts or electronic
funds transfers (whether through automated clearing houses or otherwise) or out of Lenders non-receipt of or inability to collect
funds or otherwise not being made whole in connection with depository transfer check or other similar arrangements, whether direct
or indirect (including those acquired by assignment or participation), absolute or contingent, joint or several, due or to become
due, now existing or hereafter arising, contractual or tortious, liquidated or unliquidated, regardless of how such indebtedness
or liabilities arise or by what agreement or instrument they may be evidenced or whether evidenced by any agreement or instrument,
in each such case to the extent advanced to Borrower under, arising under or out of and/or related to this Agreement, the Other
Documents and any amendments, extensions, renewals or increases thereto, including all costs and expenses of Agent and any Lender
incurred in the documentation, negotiation, modification, enforcement, collection or otherwise in connection with any of the foregoing,
including but not limited to reasonable attorneys’ fees and expenses and all obligations of Borrower to Agent or Lenders
to perform acts or refrain from taking any action.

 

“Obligor”
shall mean, in the case of a Policy, the related life insurance company that issued such Policy.

 

“Ordinary
Course of Business” shall mean the ordinary course of Borrower’s business as conducted on the Closing Date.

 

    	 

    	 	10

    
 

“Organizational
Documents” shall mean, with respect to any Person, (i) any charter, articles or certificate of incorporation, certificate
of organization, registration or formation, certificate of partnership or limited partnership of such Person, (ii) any bylaws,
operating agreement, limited liability company agreement, or partnership agreement of such Person and (iii) any and all other applicable
documents relating to such Person’s formation, organization or entity governance matters (including any shareholders’
or equity holders’ agreement or voting trust agreement) and specifically includes, without limitation, any certificates of
designation for preferred stock or other forms of preferred equity.

 

“Originator”
shall mean any originating broker or agent that arranged for the purchase or settlement of a Policy.

 

“Origination
Agreement” shall mean an agreement in form and substance satisfactory to Agent, between Borrower and a Life Settlement
Provider relating to the purchase of Policies, as the same may be amended, restated, supplemented or otherwise modified from time
to time in accordance with the terms hereof and thereof.

 

“Other Documents”
shall mean any Security Agreement, any Guaranty, the Share Purchase Agreement and any and all other agreements, instruments and
documents, including guaranties, pledges, any subordination or intercreditor agreements, powers of attorney, consents, interest
or currency swap agreements or other similar agreements and all other writings heretofore, now or hereafter executed by Borrower
or any Guarantor and/or delivered to Agent or any Lender in respect of the transactions contemplated by this Agreement, each as
may be amended, modified supplemented or restated from time to time.

 

“Other Taxes”
shall mean all present or future stamp or documentary taxes or any other excise or property taxes, charges or similar levies arising
from any payment made hereunder or under any Other Document or from the execution, delivery or enforcement of, or otherwise with
respect to, this Agreement or any Other Document.

 

“Participant”
shall mean each Person who shall be granted the right by any Lender to participate in any of the Advances and who shall have entered
into a participation agreement in form and substance satisfactory to such Lender.

 

“Payee”
shall mean Agent, any Lender, any assignee of any Lender or any Participant.

 

“Payment Office”
shall mean initially 152 West 57th Street, 4th Floor, New York NY 10019; thereafter, such other office of Agent, if any, which
it may designate by notice to Borrowing and to each Lender to be the Payment Office.

 

“Pension Benefit
Plan” shall mean at any time any employee pension benefit plan as defined in Section 3(2) of ERISA(including a Multiple
Employer Plan, but not a Multiemployer Plan) which is covered by Title IV of ERISA or is subject to the minimum funding standards
under Section 412, 430 or 436 of the Code and either (i) is maintained or to which contributions are required by Borrower
or any member of the Controlled Group; or (ii) has at any time within the preceding five years been maintained or to which contributions
have been required by Borrower or by any entity which was at such time a member of the Controlled Group.

 

    	 

    	 	11

    
 

“Permitted
Encumbrances” shall mean:

 

(a)          Liens
in favor of Agent for the benefit of Agent and Lenders; and

 

(b)          Liens
for Charges not delinquent or being Properly Contested, but only if the Lien shall have no effect on the priority of the Liens
in favor of Agent or the value of the assets in which Agent has such a Lien and a stay of enforcement of any such Lien shall be
in effect.

 

“Person”
shall mean any individual, sole proprietorship, partnership, corporation, business trust, joint stock company, trust, unincorporated
organization, association, limited liability company, limited liability partnership, institution, public benefit corporation, joint
venture, entity or Governmental Body (whether federal, state, county, city, municipal or otherwise, including any instrumentality,
division, agency, body or department thereof).

 

“Plan”
shall mean any employee benefit plan within the meaning of Section 3(3) of ERISA which is a Pension Benefit Plan, a Multiemployer
Plan or a Welfare Plan (as defined in Section 3(1) of ERISA) that provides self-insured benefits maintained by Borrower or any
member of the Controlled Group or to which Borrower or any member of the Controlled Group is required to contribute.

 

“Pledged Stock”
shall mean the shares of Equity Interest listed on Schedule 1.2(d), together with any other shares, stock certificates, options,
interests or rights of any nature whatsoever in respect of the Equity Interests of any Person that may be issued or granted to,
or held by, Borrower while this Agreement is in effect.

 

“Policies”
shall mean a life insurance policy owned, in whole or in part, by Borrower issued by an Obligor insuring solely the life of the
Insured named therein, and any and all applications, conditional receipts, riders, endorsements, supplements, amendments and all
other documents and instruments that modify or otherwise affect the terms and conditions of such policy issued in connection therewith,
each of which, including Borrower’s ownership percentage of each life insurance policy, is described on Schedule 1.2(a).

 

“Policy Documents”
shall mean, with respect to any Policy, collectively, (a) the related Origination Agreement (if applicable), (b) the
related Purchase and Sale Agreement, (c) the related Policy File and (d) all other instruments, documents and agreements
executed and/or delivered under or in connection with any of the foregoing, in each case as the same may be amended, supplemented
or otherwise modified from time to time in accordance with the terms hereof and thereof.

 

“Policy File”
shall mean, except as otherwise consented to by Agent, with respect to any Policy, the documents specified as the “Policy
File” on Schedule 1.2(c), in each case in substantially the form as Agent may approve in writing (such approval not to be
unreasonably withheld).

 

“PPVA”
shall mean Platinum Partners Value Arbitrage Fund, L.P., in its capacity as a Lender and shall extend to all of its successors
and assigns.

 

    	 

    	 	12

    
 

“Preferred
Shares” shall mean the Series A 12.5% Convertible Preferred Stock and the Series B 12.5% Convertible Preferred Stock
issued by Borrower to each Term Loan Lender, as set forth on Schedule 1.2(b).

 

“Properly
Contested” shall mean, in the case of any Indebtedness or Liens, as applicable, of any Person (including any taxes) that
is not paid as and when due or payable by reason of such Person’s bona fide dispute concerning its liability to pay same
or concerning the amount thereof, (i) such Indebtedness is being properly contested in good faith by appropriate proceedings promptly
instituted and diligently conducted; (ii) such Person has established appropriate reserves as shall be required in conformity with
GAAP; (iii) the non-payment of such Indebtedness will not have a Material Adverse Effect and will not result in the forfeiture
of any assets of such Person; (iv) no Lien is imposed upon any of such Person’s assets with respect to such Indebtedness
unless such Lien is at all times junior and subordinate in priority to the Liens in favor of Agent and enforcement of such Lien
is stayed during the period prior to the final resolution or disposition of such dispute; (v) if such Indebtedness results from,
or is determined by the entry, rendition or issuance against a Person or any of its assets of a judgment, writ, order or decree,
enforcement of such judgment, writ, order or decree is stayed pending a timely appeal or other judicial review; and (vi) if such
contest is abandoned, settled or determined adversely (in whole or in part) to such Person, such Person forthwith pays such Indebtedness
and all penalties, interest and other amounts due in connection therewith.

 

“Purchase
and Sale Agreement” shall mean, in the case of a Policy, a Purchase and Sale Agreement between Borrower and the
Person from whom Borrower purchased such Policy in substantially the form as Agent may approve in writing (such approval not to
be unreasonably withheld), as the same may be amended, restated, supplemented or otherwise modified from time to time in accordance
with the terms hereof and thereof.

 

“Purchasing
Lender” shall have the meaning set forth in Section 15.3(c).

 

“Ratable Share”
shall mean the proportion that a Lender's Revolving Credit Commitment Percentage bears to the Revolving Credit Commitment Percentages
of all Lenders. If the Revolving Credit Commitment Percentages have terminated or expired, the Ratable Share shall be determined
based upon the Revolving Credit Commitment Percentages most recently in effect, giving effect to any assignments.

 

“RCRA”
shall mean the Resource Conservation and Recovery Act, 42 U.S.C. §§ 6901 et seq., as same may be amended from time to
time.

 

“Real Property”
shall mean all real property owned or leased by any of the Borrower and identified on Schedule 4.6.

 

“Records”
shall mean, with respect to any Policy, all Policy Documents and other documents, books, records and other information (including,
without limitation, computer programs, tapes, disks, punch cards, data processing software and related property and rights) relating
to such Policy and the related Obligor, the related Insured, the related Originator and the related Life Settlement Provider.

 

“Register”
shall have the meaning set forth in Section 15.3.

 

    	 

    	 	13

    
 

“Release”
shall have the meaning set forth in Section 5.6(c).

 

“Required
Lenders” shall mean Lenders holding (and/or holding commitments to fund) more than fifty percent (50%) of the sum of
(A) the aggregate unpaid principal amount of the Term Loan then outstanding plus (B) as applicable, either (a) the
sum of the aggregate amount of the Revolving Credit Commitments of the Revolving Credit Lenders or, (b) after the termination of
the Revolving Credit Commitments, the outstanding Revolving Advances multiplied by the Revolving Credit Commitments of all Revolving
Credit Lenders as most recently in effect.

 

“Revolving
Advances” shall mean Advances made other than the Term Loan.

 

“Revolving
Commitment Amount” of any Revolving Credit Lender shall mean (i) as to each Revolving Credit Lender that was a Revolving
Credit Lender on the Closing Date, the Revolving Credit Commitment Amount set forth below such Revolving Credit Lender’s
name on the signature page hereof as the same may be adjusted upon any assignment by or to such Revolving Credit Lender pursuant
to Section 15.3(c) and (ii) as to each Revolving Credit Lender that first becomes a Revolving Credit Lender after the Closing Date,
the amount of such Revolving Credit Lender’s Revolving Credit Commitment as acquired from a transferor Lender pursuant to
one or more Commitment Transfer Supplements pursuant to Section 15.3(c).

 

“Revolving
Credit Commitment Percentage” of any Revolving Credit Lender shall mean (i) as to each Revolving Credit Lender that was
a Revolving Credit Lender on the Closing Date, such Lender’s revolving credit commitment percentage set forth below such
Lender’s name on the signature page hereof (as the same may be adjusted either upon any assignment by a Lender pursuant to
Section 15.3(c), and (ii) as to each Revolving Credit Lender that first becomes a Revolving Credit Lender after the Closing Date,
such Lender’s revolving credit commitment percentage as acquired from a transferor Lender pursuant to one or more Commitment
Transfer Supplements (as the same may be adjusted upon any assignment by a Lender pursuant to Section 15.3(c)), provided that,
at any time after the revolving credit commitments hereunder have been terminated in accordance with this Agreement, the Revolving
Credit Commitment Percentage of each Revolving Credit Lender shall be the percentage equal to (A) such Revolving Credit Lender’s
interest in the outstanding principal balance of all Revolving Advances at such time divided by (B) the total aggregate outstanding
principal balance of all Revolving Advances at such time.

 

“Revolving
Credit Commitments” shall mean, collectively, the commitments of the Revolving Credit Lenders to make Revolving Advances
as provided for in this Agreement in an aggregate amount not to exceed the Maximum Revolving Advance Amount as in effect from time
to time.

 

“Revolving
Credit Lender” shall mean each Lender that holds a Revolving Credit Commitment and/or any interest in any Revolving Advances.

 

“SEC”
shall mean the Securities and Exchange Commission or any successor thereto.

 

“Securities
Act” shall mean the Securities Act of 1933, as amended.

 

    	 

    	 	14

    
 

“Security
Agreement” shall mean each pledge or security agreement executed after the Closing Date by any Person in favor of Agent
creating a pledge or security interest in such Person’s assets or portion thereof to secure the Obligations.

 

“Share Purchase
Agreement” shall mean that certain Preferred Stock Repurchase Agreement dated as of July 31, 2012 among Borrower and
the Term Loan Lenders pursuant to which each Term Loan Lender agrees to sell to Borrower the Preferred Shares held by such Term
Loan Lender, and Borrower agrees to purchase such Preferred Shares from such Term Lender, as the same may be amended, restated,
supplemented or otherwise modified from time to time.

 

“Subsidiary”
of any Person shall mean a corporation or other entity of whose Equity Interests having ordinary voting power (other than Equity
Interests having such power only by reason of the happening of a contingency) to elect a majority of the directors of such corporation,
or other Persons performing similar functions for such entity, are owned, directly or indirectly, by such Person.

 

“Taxes”
shall mean all present or future taxes, levies, imposts, duties, deductions, withholdings, assessments, fees or other charges imposed
by any Governmental Body, including any interest, additions to tax or penalties applicable thereto.

 

“Term” shall have the
meaning set forth in Section 13.1.

 

“Term Loan”
shall mean the Advances made pursuant to Section 2.3.

 

“Term Loan
Commitment Percentage” of any Term Loan Lender shall mean (i) prior to the funding of the Term Loan on the Closing Date,
such Term Loan Lender’s commitment percentage as indicated on the signature pages hereto, and (ii) at any time after the
funding of the Term Loan on the Closing Date, the percentage equal to such Term Loan Lender’s interest in the outstanding
principal balance of the Term Loan at such time divided by the total outstanding principal balance of the Term Loan at such time.

 

“Term Loan
Lender” shall mean (i) prior to the funding of the Term Loan on the Closing Date, each Lender that holds a commitment
to advance all or any percentage of the Term Loan as indicated on the signature pages hereto and (ii) at any time after the funding
of the Term Loan on the Closing Date, each Lender that holds an interest in all or any portion of the Term Loan at such time.

 

“Toxic Substance”
shall mean and include any material present on the Real Property or the Leasehold Interests which has been shown to have significant
adverse effect on human health or which is subject to regulation under the Toxic Substances Control Act (TSCA), 15 U.S.C. §§
2601 et seq., applicable state law, or any other applicable Federal or state laws now in force or hereafter enacted relating to
toxic substances. “Toxic Substance” includes but is not limited to asbestos, polychlorinated biphenyls (PCBs) and lead-based
paints.

 

“Trading with
the Enemy Act” shall mean the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle
B, Chapter V, as amended) and any enabling legislation or executive order relating thereto.

 

    	 

    	 	15

    
 

“Transferee”
shall have the meaning set forth in Section 15.3(c).

 

“Uniform Commercial
Code” shall mean the Uniform Commercial Code as in effect from
time to time in the State of New York or any other state the laws of which are required to be applied in connection with the issue
of perfection of security interests.

 

“USA PATRIOT
Act” shall mean the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism Act of 2001, Public Law 107-56, as the same has been, or shall hereafter be, renewed, extended, amended or replaced.

 

“Warrants”
shall mean those certain warrants to purchase Borrower’s common stock issued by Borrower to the Term Loan Lenders, as set
forth on Schedule 1.2(b).

 

1.3          Uniform
Commercial Code Terms.

 

All terms used herein
and defined in the Uniform Commercial Code as adopted in the State of New York from time to time shall have the meaning given therein
unless otherwise defined herein. Without limiting the foregoing, the terms “accounts”, “chattel paper”
(including “electronic chattel paper” and “tangible chattel paper”), “commercial tort claims”,
“commodities contracts”, “commodities accounts”, “documents”, “financial asset”,
“fixtures”, “goods”, “instruments”, “general intangibles”, “payment intangibles”,
“proceeds”, “promissory note”, “securities accounts”, “securities entitlements”,
“supporting obligations”, “securities” (including “certificated securities” and “uncertificated
securities”), “investment property”, “documents”, “deposit accounts”, “software”,
“letter of credit rights”, “inventory”, “equipment” and “fixtures”, as and when
used in the description of Collateral (or in any defined term used in such description) shall have the meanings given to such terms
in Articles 8 or 9 of the Uniform Commercial Code. To the extent the definition of any category or type of collateral is expanded
by any amendment, modification or revision to the Uniform Commercial Code, such expanded definition will apply automatically as
of the date of such amendment, modification or revision.

 

1.4          Certain
Matters of Construction.

 

The terms “herein”,
“hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to
any particular section, paragraph or subdivision. All references herein to Articles, Sections, Exhibits and Schedules shall be
construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement. Any pronoun used shall be deemed
to cover all genders. Wherever appropriate in the context, terms used herein in the singular also include the plural and vice versa.
All references to statutes and related regulations shall include any amendments of same and any successor statutes and regulations.
Unless otherwise provided, all references to any instruments or agreements to which Agent is a party, including references to any
of the Other Documents, shall include any and all modifications or amendments thereto and any and all extensions or renewals thereof.
All references herein to the time of day shall mean the time in New York, New York. Whenever the words “including”
or “include” shall be used, such words shall be understood to mean “including, without limitation” or “include,
without limitation”. A Default or Event of Default shall be deemed to exist at all times during the period commencing on
the date that such Default or Event of Default occurs to the date on which such Default or Event of Default is waived in writing
pursuant to this Agreement or, in the case of a Default, is cured within any period of cure expressly provided for in this Agreement;
and an Event of Default shall “continue” or be “continuing” until such Event of Default has been waived
in writing by the Required Lenders. Any Lien referred to in this Agreement or any of the Other Documents as having been created
in favor of Agent, any agreement entered into by Agent pursuant to this Agreement or any of the Other Documents, any payment made
by or to or funds received by Agent pursuant to or as contemplated by this Agreement or any of the Other Documents, or any act
taken or omitted to be taken by Agent, shall, unless otherwise expressly provided, be created, entered into, made or received,
or taken or omitted, for the benefit or account of Agent and Lenders. All covenants hereunder shall be given independent effect
so that if a particular action or condition is not permitted by any of such covenants, the fact that it would be permitted by an
exception to, or otherwise within the limitations of, another covenant shall not avoid the occurrence of a default if such action
is taken or condition exists. In addition, all representations and warranties hereunder shall be given independent effect so that
if a particular representation or warranty proves to be incorrect or is breached, the fact that another representation or warranty
concerning the same or similar subject matter is correct or is not breached will not affect the incorrectness of a breach of a
representation or warranty hereunder.

 

    	 

    	 	16

    
 

ARTICLE
II

ADVANCES, PAYMENTS

 

2.1          Revolving
Advances.

 

Subject to the terms
and conditions set forth in this Agreement, each Revolving Credit Lender, severally and not jointly, may, in its sole discretion,
make Revolving Advances to Borrower in aggregate amounts not to exceed its Revolving Commitment Amount in accordance with its Ratable
Share; provided that, after giving effect to each such Revolving Advance, the outstanding Revolving Advances of each such Lender
shall not exceed such Lender’s Revolving Credit Commitment Amount, and provided further that all outstanding Revolving Advances
of all Lenders shall not exceed at any time the Maximum Revolving Advance Amount.

 

2.2          Procedure
for Revolving Advances Borrowings.

 

Subject to the terms
and conditions of this Agreement and in reliance on the representations and warranties of Borrower set forth herein and in the
Other Documents, Revolving Credit Lenders, severally and not jointly, may, in their sole discretion, from time to time prior to
the last day of the Term, advance to Borrower Revolving Advances requested by Borrower, provided that (i) Agent shall have
received a written request from Borrower at least seven (7) Business Days prior to the requested date of such advance in the form
of Exhibit 2.2; (ii) no Event of Default or Default shall have occurred and be continuing or would result therefrom; and (iii)
Borrower shall have provided to Agent, in such detail as Agent may reasonably request, information as to the application of the
proceeds of such Revolving Advance. Agent is permitted to deduct and retain from each Revolving Advance made to Borrower the unpaid
fees and expenses Borrower is obligated to pay pursuant to this Agreement or the Other Documents. Each Revolving Advance shall
be in a minimum amount of $500,000 and integral multiples of $100,000 in excess thereof. Should any amount required to be paid
as interest hereunder, or as fees or other charges, reimbursements for costs and expenses and indemnities under this Agreement
or any other agreement with Agent or Lenders, or with respect to any other Obligation, become due, same shall be deemed a request
for a Revolving Advance as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or
Obligation under this Agreement or any other agreement with Agent or Lenders, and such request shall be irrevocable; such demand
request shall be binding upon Borrower and Revolving Credit Lenders shall be obliged to fund their respective Ratable Shares of
each such Revolving Advance regardless of whether the conditions under Section 8.2 have been satisfied at such time.

 

    	 

    	 	17

    
 

2.3          Term
Loan.

 

Subjectct to the terms
and conditions of this Agreement and the Share Purchase Agreement, and in reliance on the representations and warranties of Borrower
set forth herein and in the Other Documents and the representations and warranties of each Term Loan Lender set forth in the Share
Purchase Agreement, each Term Loan Lender, severally and not jointly, shall be deemed to advance on the Closing Date to Borrower
a Term Loan in the sum equal to such Term Loan Lender’s Term Loan Commitment Percentage of $57,150,000 in exchange for such
Term Loan Lender’s Preferred Shares and Warrants, which (i) Preferred Shares shall be deemed to have been repurchased by
Borrower and no longer outstanding upon the deemed advance of such Term Loan and (ii) Warrants shall deemed to be cancelled and
of no further force and effect upon the deemed advance of such Term Loan. Each Term Loan Lender shall deliver or cause to be delivered
to Borrower not later than 14 calendar days after the Closing Date (a) the original certificate(s) for its Preferred Shares, duly
endorsed for transfer or accompanied by stock powers duly executed in blank, and (b) its original Warrant(s), or affidavits of
Lost Certificate and Warrants in form reasonably acceptable to Borrower. The Term Loan shall be deemed advanced on the Closing
Date and shall be, with respect to principal, interest and any other amount due thereunder, payable on the last day of the Term,
subject to acceleration upon the occurrence of an Event of Default under this Agreement or termination of this Agreement.

 

2.4          Disbursement
of Advance Proceeds; Repayment of Advances.

 

(a)          All
Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and
all other Obligations of Borrower to Agent or Lenders, shall be charged to Borrower’s Account on Agent’s books. During
the Term, Borrower may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and
conditions hereof. The proceeds of each Revolving Advance requested by Borrower or deemed to have been requested by Borrower under
Section 2.2 shall, with respect to requested Revolving Advances to the extent Revolving Credit Lenders make such Revolving
Advances, be made available to Borrower on the day so requested by way of credit to Borrower’s account at such bank as Borrower
may designate following notification to Agent, in immediately available federal funds or other immediately available funds or,
with respect to Revolving Advances deemed to have been requested by Borrower, be disbursed to Agent to be applied to the outstanding
Obligations giving rise to such deemed request.

 

(b)          The
Revolving Advances and the Term Loan shall be due and payable in full on the last day of the Term subject to earlier prepayment
as herein provided. Notwithstanding the foregoing, all Advances shall be subject to earlier repayment upon (x) acceleration upon
the occurrence of an Event of Default under this Agreement or (y) termination of this Agreement.

 

    	 

    	 	18

    
 

(c)          All
payments of principal, interest and other amounts payable hereunder or under any of the Other Documents shall be made to Agent
for the ratable accounts of the applicable Lenders in accordance with their applicable Commitment Percentages at the Payment Office
not later than 1:00 p.m. (New York time) on the due date therefor in lawful money of the United States of America in federal funds
or other funds immediately available to Agent. Agent shall have the right to effectuate payment on any and all Obligations due
and owing hereunder by charging Borrower’s Account or by making Advances as provided in Section 2.2.

 

(d)          Borrower
shall pay principal, interest, and all other amounts payable hereunder, or under any related agreement, without any deduction whatsoever,
including, but not limited to, any deduction for any setoff or counterclaim.

 

2.5          Repayment
of Excess Advances.

 

The aggregate balance
of Revolving Advances, Term Loans and/or Advances taken as a whole outstanding at any time in excess of the maximum amount of Revolving
Advances, Term Loans and/or Advances taken as a whole permitted hereunder, specifically including without limitation any aggregate
balance of Revolving Advances outstanding at any time in excess of the Maximum Revolving Loan Amount, shall be immediately due
and payable without the necessity of any demand, at the Payment Office, whether or not a Default or Event of Default has occurred.

 

2.6          Statement
of Account.

 

Agent shall maintain,
in accordance with its customary procedures, a loan account (“Borrower’s Account”) in the name of Borrower
in which shall be recorded the date and amount of each Advance made by Agent and the date and amount of each payment in respect
thereof; provided, however, the failure by Agent to record the date and amount of any Advance shall not adversely affect Agent
or any Lender. The records of Agent with respect to the loan account shall be presumptive evidence absent manifest error of the
amounts of Advances and other charges thereto and of payments applicable thereto.

 

2.7          Additional
Payments.

 

Any sums expended by
Agent or any Lender due to Borrower’s failure to perform or comply with its obligations under this Agreement or any Other
Document including Borrower’s obligations under Sections 4.2, 4.5, 4.13, 4.14, 4.15 and 6.1, may be charged to Borrower’s
Account as a Revolving Advance and added to the Obligations, and Borrower shall be deemed to have requested such Revolving Advance
and Revolving Credit Lenders shall be unconditionally obligated to fund their respective Ratable Shares of each such Revolving
Advance regardless of whether the conditions under Section 8.2 have been satisfied at such time.

 

    	 

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2.8          Manner
of Borrowing and Payment.

 

(a)          Each
borrowing of Revolving Advances shall be advanced according to the applicable Ratable Shares of Revolving Credit Lenders. The Term
Loan shall be advanced on the Closing Date according to the respective Term Loan Commitment Percentages of Term Loan Lenders on
the Closing Date.

 

(b)          Each
payment (including each prepayment) by Borrower on account of the principal of and interest on the Revolving Advances shall be
applied to the Revolving Advances pro rata according to the respective Ratable Shares of the Revolving Credit Lenders. Each payment
(including each prepayment) by Borrower on account of the principal of and interest on the Term Loan shall be applied to that portion
of the Term Loan pro rata according to the respective Term Loan Commitment Percentages of the Term Loan Lenders. Except as expressly
provided herein, all payments (including prepayments) to be made by Borrower on account of principal, interest and fees shall be
made without set off or counterclaim and shall be made to Agent on behalf of Lenders to the Payment Office, in each case on or
prior to 1:00 p.m., New York time, in Dollars and in immediately available funds.

 

(c)          Funding
of Revolving Advances.

 

(i)          Promptly
after receipt by Agent of a request for a Revolving Advance pursuant to Section 2.2, Agent shall notify Revolving Credit Lenders
of its receipt of such request specifying the information provided by Borrower and the apportionment among Revolving Credit Lenders
of the requested Revolving Advance as determined by Agent. Each Revolving Credit Lender that elects, in its sole discretion, to
make its Ratable Share of such Revolving Advance shall remit the principal amount thereof to Agent such that Agent is able to,
and Agent shall, to the extent Revolving Credit Lenders have made funds available to it for such purpose and subject to Section
8.2, fund such Revolving Advance to Borrower in U.S. Dollars and immediately available funds in accordance with Section 2.4(a)
prior to 1:00 p.m., on the applicable borrowing date.

 

(ii)           Unless
Agent shall have received notice from a Revolving Credit Lender prior to the proposed date of any Revolving Advance that such Revolving
Credit Lender will not make available to Agent such Lender’s Revolving Commitment Percentage or Ratable Share of such Revolving
Advance, Agent may assume that such Revolving Credit Lender has made such share available on such date in accordance with Section
2.8(c)(i) and may, in reliance upon such assumption, make available to Borrower a corresponding amount. In such event, if a Revolving
Credit Lender has not in fact made its share of the applicable Revolving Advance available to Agent, then the applicable Revolving
Credit Lender and Borrower severally agree to pay to Agent forthwith on demand such corresponding amount with interest thereon,
for each day from and including the date such amount is made available to Borrower to but excluding the date of payment to Agent,
at the interest rate applicable to Revolving Advances. If such Revolving Credit Lender pays its share of the applicable Revolving
Advance to Agent, then the amount so paid shall constitute such Revolving Credit Lender’s Revolving Advance. Any payment
by Borrower shall be without prejudice to any claim the Borrower may have against a Revolving Credit Lender that shall have failed
to make such payment to Agent.

 

    	 

    	 	20

    
 

(d)          If
any Lender or Participant (a “Benefited Lender”) shall at any time receive any payment of all or part of its
Advances, or interest thereon, or receive any Collateral in respect thereof (whether voluntarily or involuntarily or by set-off)
in a greater proportion than any such payment to and Collateral received by any other Lender, if any, in respect of such other
Lender’s Advances, or interest thereon, and such greater proportionate payment or receipt of Collateral is not expressly
permitted hereunder, such benefited Lender shall purchase for cash from the other Lenders a participation in such portion of each
such other Lender’s Advances, or shall provide such other Lender with the benefits of any such Collateral, or the proceeds
thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such Collateral or proceeds
ratably with each of the other Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter
recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent
of such recovery, but without interest. Borrower consents to the foregoing and agrees, to the extent it may effectively do so under
Applicable Law, that each Lender so purchasing a portion of another Lender’s Advances may exercise all rights of payment
(including rights of set-off and counterclaim) with respect to such portion as fully as if such Lender were the direct holder of
such portion, and the obligations owing to each such purchasing Lender in respect of such participation and such purchased portion
of any other Lender’s Advances shall be part of the Obligations secured by the Collateral.

 

2.9          Voluntary
Prepayments.

 

(a)          Subject
to the provisions of Section 13.1, Borrower shall have the right at its option from time to time to prepay the Advances in whole
or part without premium or penalty. Whenever Borrower desires to prepay any part of the Advances, it shall provide a written prepayment
notice to Agent by 12:00 noon (New York time) at least three (3) Business Day prior to the date of prepayment of such Advances,
setting forth the following information:  (i) the date, which shall be a Business Day, on which the proposed prepayment is
to be made; (ii) a statement indicating the application of the prepayment among the Advances; and (iii) the total principal amount
of such prepayment.  All prepayment notices shall be irrevocable.  The principal amount of such Advances for which a
prepayment notice is given, together with interest on such principal amount, shall be due and payable on the date specified in
such prepayment notice as the date on which the proposed prepayment is to be made.

 

(b)          Subject
to Sections 4.4, when Borrower sells or otherwise disposes of any Collateral, Borrower shall repay the Advances in an amount
equal to the net proceeds of such sale (i.e., gross proceeds less the reasonable costs of such sales or other dispositions), but
not to exceed the amount of all Obligations then outstanding and owing hereunder, such repayments to be made promptly but in no
event more than one (1) Business Day following receipt of such net proceeds, and until the date of payment, such proceeds shall
be held in trust for Agent.  The foregoing shall not be deemed to be implied consent to any such sale otherwise prohibited
by the terms and conditions hereof.  Such repayments shall be applied first to the outstanding principal balance of the
Revolving Advances, second to the outstanding principal balance of the Term Loan and third to any other remaining Obligations in
such order as Agent may determine, subject to Borrower’s ability to reborrow Revolving Advances in accordance with the terms
hereof. 

 

    	 

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2.10          Use
of Proceeds.

 

(a)          Borrower
shall apply the proceeds of Revolving Advances (i) to pay fees and expenses relating to this transaction, (ii) to pay premiums
with respect to Policies and (iii) for general corporate purposes.

 

(b)          Without
limiting the generality of Section 2.10(a), Borrower does not intend to use nor shall it use any portion of the proceeds of
the Advances, directly or indirectly, for any purpose in violation of the Trading with the Enemy Act.

 

ARTICLE
III

INTEREST AND FEES

 

3.1          Interest.

 

Interest on Advances
shall be payable in arrears on the last day of the Term. Interest charges shall be computed on the actual principal amount of Advances
outstanding during the Term at a rate per annum equal to 12.5% (the “Contract Rate”). Except as expressly provided
otherwise in this Agreement, any Obligations other than the Advances that are not paid when due shall accrue interest at the Contract
Rate, subject to the provision of the final sentence of this Section 3.1 regarding the Default Rate. Upon and after the occurrence
of an Event of Default, and during the continuation thereof, at the option of Agent or at the direction of Required Lenders (or,
in the case of any Event of Default under Section 10.7 or 10.8, immediately and automatically upon the occurrence of any such Event
of Default without the requirement of any affirmative action by any party), the Obligations shall bear interest at 18% per annum
(the “Default Rate”).

 

3.2          Computation
of Interest and Fees.

 

Interest and fees hereunder
shall be computed on the basis of a year of 360 days and for the actual number of days elapsed. If any payment to be made hereunder
becomes due and payable on a day other than a Business Day, the due date thereof shall be extended to the next succeeding Business
Day and interest thereon shall be payable at the Contract Rate during such extension.

 

3.3          Maximum
Charges.

 

In no event whatsoever
shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other
charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied
to any unpaid principal balance owed by Borrower, and if the then remaining excess amount is greater than the previously unpaid
principal balance, Lenders shall promptly refund such excess amount to Borrower and the provisions hereof shall be deemed amended
to provide for such permissible rate.

 

    	 

    	 	22

    
 

3.4          Increased
Costs.

 

(a)          In
the event that any Applicable Law, treaty or governmental regulation, or any Change in Law, or in the interpretation or application
thereof, or compliance by any Lender (for purposes of this Section 3.4, the term “Lender” shall include Agent
or any Lender and any corporation or bank controlling Agent or any Lender) with any request or directive (whether or not having
the force of law) from any central bank or other Governmental Body or financial, monetary or other authority, shall:

 

(i)          subject
Agent or any Lender to any tax of any kind whatsoever with respect to this Agreement or any Other Document or change the basis
of taxation of payments to Agent or any Lender of principal, fees, interest or any other amount payable hereunder or under any
Other Documents (except for Indemnified Taxes or Other Taxes covered by Section 3.7 and the imposition of, or any change in the
rate of, any Excluded Tax payable by such Lender or the Issuing Lender);

 

(ii)          impose,
modify or hold applicable any reserve, special deposit, assessment or similar requirement against assets held by, or deposits in
or for the account of, advances or loans by, or other credit extended by, any office of Agent or any Lender, including pursuant
to Regulation D of the Board of Governors of the Federal Reserve System; or

 

(iii)          impose
on Agent or any Lender any other condition with respect to this Agreement or any Other Document;

 

and the result of any of the foregoing
is to increase the cost to Agent or any Lender of making, renewing or maintaining its Advances hereunder by an amount that Agent
or such Lender deems to be material or to reduce the amount of any payment (whether of principal, interest or otherwise) in respect
of any of the Advances by an amount that Agent or such Lender deems to be material, then, in any case Borrower shall promptly pay
Agent or such Lender, upon its demand, such additional amount as will compensate Agent or such Lender for such additional cost
or such reduction, as the case may be. Agent or such Lender shall certify the amount of such additional cost or reduced amount
to Borrower, and such certification shall be conclusive absent manifest error.

 

(b)          Failure
or delay on the part of Agent or any Lender to demand compensation pursuant to the foregoing provisions of this Section 3.4
shall not constitute a waiver of Agent or such Lender’s right to demand such compensation.

 

3.5          Capital
Adequacy.

 

(a)          In
the event that Agent or any Lender shall have reasonably determined that any Applicable Law, rule, regulation or guideline regarding
capital adequacy, or any Change in Law, or any change in the interpretation or administration thereof by any Governmental Body,
central bank or comparable agency charged with the interpretation or administration thereof, or compliance by Agent or any Lender
(for purposes of this Section 3.5, the term “Lender” shall include Agent or any Lender and any corporation
or bank controlling Agent or any Lender) with any request or directive regarding capital adequacy (whether or not having the force
of law) of any such authority, central bank or comparable agency, has or would have the effect of reducing the rate of return on
Agent or any Lender’s capital as a consequence of its obligations hereunder to a level below that which Agent or such Lender
could have achieved but for such adoption, change or compliance (taking into consideration Agent’s and each Lender’s
policies with respect to capital adequacy) by an amount deemed by Agent or any Lender to be material, then, from time to time,
Borrower shall pay upon demand to Agent or such Lender such additional amount or amounts as will compensate Agent or such Lender
for such reduction. In determining such amount or amounts, Agent or such Lender may use any reasonable averaging or attribution
methods. The protection of this Section 3.5 shall be available to Agent and each Lender regardless of any possible contention
of invalidity or inapplicability with respect to the Applicable Law, regulation or condition.

 

    	 

    	 	23

    
 

(b)          A
certificate of Agent or such Lender setting forth such amount or amounts as shall be necessary to compensate Agent or such Lender
with respect to Section 3.5(a) when delivered to Borrower shall be conclusive absent manifest error.

 

(c)          Failure
or delay on the part of Agent or any Lender to demand compensation pursuant to the foregoing provisions of this Section 3.5
shall not constitute a waiver of Agent’s or such Lender’s right to demand such compensation.

 

3.6          Gross
Up for Taxes.

 

Any and all payments
by or on account of any obligation of Borrower hereunder or under any Other Document shall be made free and clear of and without
reduction or withholding for any Indemnified Taxes or Other Taxes; provided that if the Borrower shall be required by Applicable
Law to deduct any Indemnified Taxes (including any Other Taxes) from such payments, then (i) the sum payable shall be increased
as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this
Section) Agent or Lender, as the case may be, receives an amount equal to the sum it would have received had no such deductions
been made, (ii) Borrower shall make such deductions and (iii) Borrower shall timely pay the full amount deducted to the relevant
Governmental Body in accordance with Applicable Law. Without limiting the provisions of the foregoing, Borrower shall timely pay
any Other Taxes to the relevant Governmental Body in accordance with Applicable Law.

 

3.7          Withholding
Tax Exemption.

 

(a)          Each
Payee that is not incorporated under the Laws of the United States of America or a state thereof (and, upon the written request
of Agent, each other Payee) agrees that it will deliver to Borrower and Agent two (2) duly completed appropriate valid Withholding
Certificates (as defined under §1.1441-1(c)(16) of the Income Tax Regulations (“Regulations”)) certifying
its status (i.e., U.S. or foreign person) and, if appropriate, making a claim of reduced, or exemption from, U.S. withholding tax
on the basis of an income tax treaty or an exemption provided by the Code. The term “Withholding Certificate” shall
mean a Form W-9; a Form W-8BEN; a Form W-8ECI; a Form W-8IMY and the related statements and certifications as required under §1.1441-1(e)(2)
and/or (3) of the Regulations; a statement described in §1.871-14(c)(2)(v) of the Regulations; or any other certificates under
the Code or Regulations that certify or establish the status of a payee or beneficial owner as a U.S. or foreign person.

 

    	 

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(b)          Each
Payee required to deliver to Borrower and Agent a valid Withholding Certificate pursuant to Section 3.7(a) shall deliver such
valid Withholding Certificate as follows: (A) each Payee which is a party hereto on the Closing Date shall deliver such valid Withholding
Certificate at least five (5) Business Days prior to the first date on which any interest or fees are payable by Borrower hereunder
for the account of such Payee; (B) each Payee shall deliver such valid Withholding Certificate at least five (5) Business Days
before the effective date of such assignment or participation (unless Agent in its sole discretion shall permit such Payee to deliver
such Withholding Certificate less than five (5) Business Days before such date in which case it shall be due on the date specified
by Agent). Each Payee which so delivers a valid Withholding Certificate further undertakes to deliver to Borrower and Agent two
(2) additional copies of such Withholding Certificate (or a successor form) on or before the date that such Withholding Certificate
expires or becomes obsolete or after the occurrence of any event requiring a change in the most recent Withholding Certificate
so delivered by it, and such amendments thereto or extensions or renewals thereof as may be reasonably requested by Borrower or
Agent.

 

(c)          Notwithstanding
the submission of a Withholding Certificate claiming a reduced rate of or exemption from U.S. withholding tax required under Section 3.7(b),
Agent shall be entitled to withhold United States federal income taxes at the full 30% withholding rate if in its reasonable judgment
it is required to do so under the due diligence requirements imposed upon a withholding agent under §1.1441-7(b) of the Regulations.
Further, Agent is indemnified under §1.1461-1(e) of the Regulations against any claims and demands of any Payee for the amount
of any tax it deducts and withholds in accordance with regulations under §1441 of the Code.

 

3.8          Survival
of Obligations.

 

Borrower’s obligations and the indemnifications
under this ARTICLE III shall survive the termination of this Agreement.

 

ARTICLE
IV

COLLATERAL; GENERAL TERMS

 

4.1          Security
Interest in the Collateral.

 

To secure the prompt
payment and performance of the Obligations to Agent and each Lender and each other holder of the Obligations, Borrower hereby assigns,
pledges and grants to Agent for its benefit and for the ratable benefit of each Lender and each other holder of any of the Obligations
a continuing security interest in and to and Lien on all of the Collateral, whether now owned or existing or hereafter acquired
or arising and wheresoever located. Borrower shall mark its books and records as may be necessary or appropriate to evidence, protect
and perfect Agent’s security interest and shall cause its financial statements to reflect such security interest. Borrower
shall promptly provide Agent with written notice of all commercial tort claims promptly upon the occurrence of any events giving
rise to any such claim(s) (regardless of whether legal proceedings have yet been commenced), such notice to contain a brief description
of the claim(s), the events out of which such claim(s) arose and the parties against which such claims may be asserted and, if
applicable in any case where legal proceedings regarding such claim(s) have been commenced, the case title with the applicable
court. Upon delivery of each such notice, Borrower shall be deemed to hereby grant to Agent a security interest and lien in and
to such commercial tort claims described therein and all proceeds thereof. Borrower shall provide Agent with written notice promptly
upon becoming the beneficiary under any letter of credit or otherwise obtaining any right, title or interest in any letter of credit
rights, and at Agent’s request shall take such actions as Agent may reasonably request for the perfection of Agent’s
security interest herein.

 

    	 

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4.2          Perfection
of Security Interest.

 

(a)          Borrower
shall take all action that may be necessary or desirable, or that Agent may reasonably request, so as at all times to maintain
the validity, perfection, enforceability and priority of Agent’s security interest in and Lien on the Collateral or to enable
Agent to protect, exercise or enforce its rights hereunder and in the Collateral, including, but not limited to, (i) immediately
discharging all Liens other than Permitted Encumbrances, (ii) delivering to Agent, endorsed or accompanied by such instruments
of assignment as Agent may specify, and stamping or marking, in such manner as Agent may specify, any and all chattel paper, instruments,
investment property, letters of credits and advices thereof and documents evidencing or forming a part of the Collateral, (iii)
entering into warehousing, lockbox and other custodial arrangements reasonably satisfactory to Agent, and (iv) executing and delivering
financing statements, control agreements, instruments of pledge, mortgages, notices and assignments, in each case in form and substance
reasonably satisfactory to Agent, relating to the creation, validity, perfection, maintenance or continuation of Agent’s
security interest and Lien. Agent is hereby authorized to file financing statements or such other documents, agreements or instruments
as necessary in accordance with the Uniform Commercial Code or such other Applicable Law. By its signature hereto, Borrower hereby
authorizes Agent to file against Borrower one or more financing continuation or amendment statements pursuant to the Uniform Commercial
Code in form and substance satisfactory to Agent (which statements may have a description of collateral which is broader than that
set forth herein and which may describe the Collateral as “all assets” or “all personal property”). All
charges, expenses and fees Agent may incur in doing any of the foregoing, and any local taxes relating thereto, shall be charged
to Borrower’s Account as a Revolving Advance and added to the Obligations, or, at Agent’s option, shall be paid to
Agent for its benefit and for the ratable benefit of Lenders immediately upon demand.

 

(b)          If
Borrower shall become entitled to receive or shall receive any certificate (including, without limitation, any certificate representing
a dividend or a distribution in connection with any reclassification, increase or reduction of capital or any certificate issued
in connection with any reorganization), option or rights in respect of the Equity Interests of Infinity, whether in addition to,
in substitution of, as a conversion of, or in exchange for, any shares of the Pledged Interests, or otherwise in respect thereof,
Borrower shall accept the same as the agent of Agent and Lenders, hold the same in trust for Agent and Lenders and deliver the
same forthwith to Agent in the exact form received, duly indorsed by Borrower to Agent, if required, together with an undated stock
power covering such certificate duly executed in blank by Borrower and with, if Agent so requests, signature guaranteed, to be
held by Agent, subject to the terms hereof, as additional collateral security for the Obligations. Any sums paid upon or in respect
of the Equity Interests that is or is required to be Collateral upon the liquidation or dissolution of Infinity shall be paid over
to Agent to be held by it hereunder as additional collateral security for the Obligations, and in case any distribution of capital
shall be made on or in respect of such Equity Interests, or any property shall be distributed upon or with respect to such Equity
Interests pursuant to the recapitalization or reclassification of the capital of Infinity or pursuant to the reorganization thereof,
the property so distributed shall, unless otherwise subject to a perfected security interest in favor of Agent, be delivered to
Agent to be held by it hereunder as additional collateral security for the Obligations. If any sums of money or property so paid
or distributed in respect of the Equity Interests that is or is required to be Collateral shall be received by Borrower, Borrower
shall, until such money or property is paid or delivered to Agent, hold such money or property in trust for Agent and Lenders,
segregated from other funds of Borrower as additional collateral security for the Obligations. Notwithstanding the foregoing, Borrower
shall not be required to pay over to Agent or deliver to Agent as Collateral any proceeds of any liquidation or dissolution of
Infinity, or any distribution of capital or property in respect of any Equity Interests that is or is required to be Collateral,
to the extent that the proceeds thereof are applied toward prepayment of the Obligations.

 

    	 

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(c)          Agent
shall have no obligation with respect to the Collateral or any other property held or received by it hereunder except to use reasonable
care in the custody thereof to the extent required by law. Agent may hold the Collateral in the form in which it is received by
it.

 

4.3          Pledged
Interests.

 

(a)          Unless
an Event of Default shall have occurred and be continuing and Agent shall have given notice to Borrower of Agent’s intent
to exercise its corresponding rights pursuant to Section 4.3(b), Borrower shall be permitted to receive all cash dividends paid
in respect of the Pledged Interests paid in the normal course of business of Infinity and consistent with past practice, and to
exercise all voting and corporate rights with respect to the Pledged Interests; provided, however, that no vote shall be cast or
corporate right exercised or other action taken which, in Agent’s reasonable judgment, would impair the Collateral or which
would be inconsistent with or result in any violation of any provision of this Agreement or any Other Document.

 

(b)          If
an Event of Default shall occur and be continuing and Agent shall give notice of its intent to exercise such rights to Borrower,
Agent shall have the right to receive any and all cash dividends, payments or other proceeds paid in respect of the Pledged Interests
and make application thereof to the Obligations in the order set forth in Section 11.5, and any or all of the Pledged Interests
shall be registered in the name of Agent or its nominee, and Agent or its nominee may thereafter exercise (x) all voting, limited
liability company and other rights pertaining to such Pledged Interests at any meeting of members of Infinity or otherwise and
(y) any and all rights of conversion, exchange and subscription and any other rights, privileges or options pertaining to
such Pledged Interests as if it were the absolute owner thereof (including, without limitation, the right to exchange at its discretion
any and all of the Pledged Interests upon the merger, consolidation, reorganization, recapitalization or other fundamental change
in the structure of Infinity, or upon the exercise by Borrower or Agent of any right, privilege or option pertaining to such Pledged
Interests, and in connection therewith, the right to deposit and deliver any and all of the Pledged Interests with any committee,
depositary, transfer agent, registrar or other designated agency upon such terms and conditions as Agent may determine), all without
liability except to account for property actually received by it, but Agent shall have no duty to Borrower to exercise any such
right, privilege or option and shall not be responsible for any failure to do so or delay in so doing.

 

    	 

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(c)          Borrower
hereby authorizes and instructs Infinity to (i) comply with any instruction received by it from Agent in writing that (x)
states that an Event of Default has occurred and is continuing and (y) is otherwise in accordance with the terms of this Agreement,
without any other or further instructions from Borrower, and Borrower agrees that Infinity shall be fully protected in so complying,
and (ii) unless otherwise expressly permitted hereby, pay any dividends or other payments with respect to the Pledged Interests
directly to Agent.

 

(d)          Without
the prior written consent of Agent, Borrower will not (i) vote to enable, or take any other action to permit, Infinity to issue
any Equity Interests of any nature or to issue any other securities convertible into or granting the right to purchase or exchange
for any Equity Interests of any nature, unless such Equity Interests are delivered to Agent, concurrently with the issuance thereof,
to be held by Agent as Collateral, (ii) sell, assign, transfer, exchange, or otherwise dispose of, or grant any option with respect
to, the Equity Interests that is or is required to be Collateral or proceeds thereof, (iii) create, incur or permit to exist
any Lien or option in favor of, or any claim of any Person with respect to, any of the Equity Interests that is or is required
to be Collateral or proceeds thereof, or any interest therein, except for the security interests created by this Agreement or (iv) enter
into any agreement or undertaking restricting the right or ability of Borrower or Agent to sell, assign or transfer any of the
Pledged Collateral or proceeds thereof.

 

(e)          Borrower,
to the full extent permitted by law, hereby constitutes and irrevocably appoints Agent (and any officer or agent of Agent, with
full power of substitution and revocation) as Borrower’s true and lawful attorney-in-fact, in Borrower’s stead and
in the name of Borrower or in the name of Agent, to transfer, upon the occurrence and during the continuance of an Event of Default,
the Pledged Interests on the books of Infinity, in whole or in part, to the name of Agent or such other entity or entities as Agent
may designate and, upon the occurrence and during the continuance of an Event of Default, to take all such other and further actions
as Borrower could have taken with respect to the Pledged Interests which Agent in its absolute discretion determines to be necessary
or appropriate to accomplish the purposes of this Agreement. The powers of attorney granted pursuant to this Agreement and all
authority hereby conferred are granted and conferred solely to protect Agent’s interests in the Pledged Interests and shall
not impose any duty upon the attorney-in-fact to exercise such powers. Such powers of attorney are coupled with an interest and
shall be irrevocable prior to the payment in full of the Obligations, and shall not be terminated prior thereto or affected by
any act of Borrower or by operation of law.

 

4.4          Disposition
of Collateral.

 

Borrower will safeguard
and protect all Collateral for Agent’s general account and make no disposition of all or any part thereof, whether by sale,
lease, participation or otherwise.

 

    	 

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4.5          Preservation
of Collateral.

 

Following the occurrence
or continuance of an Event of Default, in addition to the rights and remedies set forth in Section 11.1, Agent: (a) may at
any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including
the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may
employ and maintain at any of Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect
Agent’s interests in the Collateral; and (c) shall have, and is hereby granted, a right of ingress and egress to the places
where the Collateral is located, and may proceed over and through any of Borrower’s owned or leased property. Borrower shall
cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral
as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding
of a custodian, shall be charged to Borrower’s Account as a Revolving Advance and added to the Obligations and Borrower shall
be deemed to have requested such Revolving Advance and Revolving Credit Lenders shall be unconditionally obligated to fund their
respective Ratable Shares of each such Revolving Advance regardless of whether the conditions under Section 8.2 hereof have been
satisfied at such time.

 

4.6          Ownership
of Collateral.

 

(a)          Each
Policy was purchased by Borrower from the applicable Life Settlement Provider pursuant to and in accordance with a Purchase and
Sale Agreement, the related Policy Documents and, if applicable, the related Origination Agreement, and Borrower irrevocably acquired
all legal and equitable title to such Policy free and clear of any Liens other than Permitted Encumbrances. Schedule 4.6(a) sets
forth for each Policy with respect to which Borrower has less than a 100% interest the co-owner of such Policy and the amount of
such co-owner’s interest in such Policy. True and correct copies of each agreement pursuant to which each co-owner obtained
its interest in the applicable Policy have been delivered by Borrower to Agent.

 

(b)          Prior
to the purchase by Borrower of each Policy, (i) Borrower confirmed that the initial owner of such Policy had the requisite insurable
interest in the life of the Insured at the time of the original issuance of such Policy, (ii) the seller of such Policy certified
that prior to the execution of the relevant Purchase and Sale Agreement, such seller verified with the applicable issuing insurance
company that the owner of, and beneficiary under, such Policy, as recorded by the applicable issuing insurance company, is consistent
with that which is reflected in the applicable Policy File, (iii) the seller of such Policy confirmed with the applicable issuing
insurance company that the carrier either has not received a collateral assignment granting a lien on such Policy or that the only
collateral assignment that has been filed is the same as that reflected in the applicable Policy File and (iv) the consent to such
purchase of any beneficiary designated as “irrevocable” was obtained.

 

(c)          With
respect to the Collateral, at the time the Collateral becomes subject to Agent’s security interest: (i) Borrower shall be
the sole owner of and fully authorized and able to sell, transfer, pledge and/or grant a first priority security interest in each
and every item of the Collateral to Agent; and, except for Permitted Encumbrances the Collateral shall be free and clear of all
Liens and encumbrances whatsoever; (ii) each document and agreement executed by Borrower or delivered to Agent or any Lender in
connection with this Agreement shall be true and correct in all respects; and (iii) all signatures and endorsements of Borrower
that appear on such documents and agreements shall be genuine and Borrower shall have full capacity to execute same.

 

    	 

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(d)          (i)
There is no location at which Borrower has any Collateral other than those locations listed on Schedule 4.6(d); (ii) Schedule 4.6(d)
sets forth a correct and complete list as of the Closing Date of (A) each place of business of Borrower and (B) the chief executive
office of Borrower; and (iv) Schedule 4.6(d) sets forth a correct and complete list as of the Closing Date of the location, by
state and street address, of all Real Property leased by Borrower, together with the names and addresses of any landlords.

 

(e)          The
Pledged Interests constitutes all the issued and outstanding shares of all classes of the Equity Interests of Infinity owned by
Borrower. All such Pledged Interests have been duly and validly issued and are fully paid and nonassessable. Borrower is the record
and beneficial owner of, and has good and marketable title to, the Pledged Interests pledged by it hereunder, free of any and all
Liens or options in favor of, or claims of, any other Person, except the security interest created by this Agreement.

 

4.7          Defense
of Agent’s and Lenders’ Interests.

 

Until (a) payment and
performance in full of all of the Obligations and (b) termination of this Agreement, Agent’s interests in the Collateral
shall continue in full force and effect. During such period Borrower shall not, without Agent’s prior written consent, pledge,
sell, assign, transfer, create or suffer to exist a Lien upon or encumber or allow or suffer to be encumbered in any way, except
for Permitted Encumbrances, any part of the Collateral. Borrower shall defend Agent’s interests in the Collateral against
any and all Persons whatsoever. At any time upon the occurrence or continuance of an Event of Default, Agent shall have the right
to take possession of the indicia of the Collateral and the Collateral in whatever physical form contained. If Agent exercises
this right to take possession of the Collateral, Borrower shall, upon demand, assemble it in the best manner possible and make
it available to Agent at a place reasonably convenient to Agent. In addition, with respect to all Collateral, Agent and Lenders
shall be entitled to all of the rights and remedies set forth herein and further provided by the Uniform Commercial Code or other
Applicable Law. Borrower shall, and Agent may, upon an Event of Default, at its option, instruct all Persons receiving or holding
cash, checks, documents or instruments in which Agent holds a security interest to deliver same to Agent and/or subject to Agent’s
order and if they shall come into Borrower’s possession, they, and each of them, shall be held by Borrower in trust as Agent’s
trustee, and Borrower will immediately deliver them to Agent in their original form together with any necessary endorsement.

 

4.8          Books
and Records.

 

Borrower shall (a)
keep proper books of record and account in which full, true and correct entries will be made of all dealings or transactions of
or in relation to its business and affairs which books and records shall be kept at Borrower’s principal place of business;
(b) set up on its books accruals with respect to all taxes, assessments, charges, levies and claims; and (c) on a reasonably current
basis set up on its books, from its earnings, advances and investments and all other proper accruals, which should be set aside
from such earnings in connection with its business. All determinations pursuant to this subsection shall be made in accordance
with, or as required by, GAAP consistently applied in the opinion of such independent public accountant as shall then be regularly
engaged by Borrower.

 

    	 

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4.9          Financial
Disclosure.

 

Borrower hereby irrevocably
authorizes and directs all accountants and auditors employed by Borrower at any time during the Term to exhibit and deliver to
Agent and each Lender copies of any of Borrower’s financial statements, trial balances or other accounting records of any
sort in the accountant’s or auditor’s possession, and to disclose to Agent and each Lender any information such accountants
may have concerning Borrower’s financial status and business operations. Borrower hereby authorizes all Governmental Bodies
to furnish to Agent and each Lender copies of reports or examinations relating to Borrower, whether made by Borrower or otherwise;
however, Agent and each Lender will attempt to obtain such information or materials directly from Borrower prior to obtaining such
information or materials from such accountants or Governmental Bodies.

 

4.10          Compliance
with Laws.

 

Subject to any other
provisions hereof or of any Other Document which shall expressly provide for a different standard as to any particular Applicable
Laws, Borrower shall comply with all Applicable Laws with respect to the Collateral or any part thereof or to the operation of
Borrower’s business. The assets of Borrower at all times shall be maintained in accordance with the requirements of all insurance
carriers which provide insurance with respect to the assets of Borrower so that such insurance shall remain in full force and effect.

 

4.11          Inspection
of Premises.

 

At all reasonable times
and from time to time as Agent shall elect in its sole discretion Agent and each Lender shall have full access to and the right
to audit, check, inspect and make abstracts and copies from Borrower’s books, records, audits, correspondence and all other
papers relating to the Collateral and the operation of Borrower’s business. Agent, any Lender and their agents may enter
upon any of Borrower’s premises at any time during business hours and at any other reasonable time, and from time to time,
for the purpose of inspecting, auditing and evaluating the Collateral and any and all records pertaining thereto and the operation
of Borrower’s business and discussing the affairs, finances and business of Borrower with any officers and directors of Borrower
or with the Accountants. Borrower shall be liable for the costs and expenses of any collateral evaluations/field exams/analyses.

 

    	 

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4.12          Insurance.

 

The assets and properties
of Borrower at all times shall be maintained in accordance with the requirements of all insurance carriers which provide insurance
with respect to the assets and properties of Borrower so that such insurance shall remain in full force and effect. Borrower shall
bear the full risk of any loss of any nature whatsoever with respect to the Collateral. At Borrower’s own cost and expense
in amounts and with carriers acceptable to Agent, Borrower shall (a) keep all their insurable properties and properties in which
Borrower has an interest insured against the hazards of fire, flood, sprinkler leakage, those hazards covered by extended coverage
insurance and such other hazards, and for such amounts, as is customary in the case of companies engaged in businesses similar
to Borrower’s including business interruption insurance; (b) maintain a bond in such amounts as is customary in the case
of companies engaged in businesses similar to Borrower insuring against larceny, embezzlement or other criminal misappropriation
of insured’s officers and employees who may either singly or jointly with others at any time have access to the assets or
funds of Borrower either directly or through authority to draw upon such funds or to direct generally the disposition of such assets;
(c) maintain public and product liability insurance against claims for personal injury, death or property damage suffered by others;
(d) maintain all such worker’s compensation or similar insurance as may be required under the laws of any state or jurisdiction
in which Borrower is engaged in business; (e) furnish Agent with (i) copies of all policies and evidence of the maintenance of
such policies by the renewal thereof at least thirty (30) days before any expiration date, and (ii) appropriate loss payable endorsements
in form and substance satisfactory to Agent, naming Agent as a lender loss payee as its interests may appear with respect to all
insurance coverage referred to in clause (a) and as an additional insured as its interest may appear with respect to all insurance
coverage referred to in clause (c) above and providing (A) that all proceeds thereunder shall be payable to Agent, (B) no such
insurance shall be affected by any act or neglect of the insured or owner of the property described in such policy, and (C) that
such policy and loss payable clauses may not be cancelled, amended or terminated unless at least thirty (30) days’ prior
written notice is given to Agent. In the event of any loss thereunder, the carriers named therein hereby are directed by Agent
and Borrower to make payment for such loss to Agent and not to Borrower and Agent jointly. If any insurance losses are paid by
check, draft or other instrument payable to Borrower and Agent jointly, Agent may endorse Borrower’s names thereon and do
such other things as Agent may deem advisable to reduce the same to cash. If any payment for such loss is made to a Borrower and
not Agent, Borrower shall turn over such payment to Agent. Agent is hereby authorized to adjust and compromise claims under insurance
coverage referred to in clauses (a) and (b) above. All loss recoveries received by Agent upon any such insurance may be applied
to the Obligations, in such order as Agent in its sole discretion shall determine. Any surplus shall be paid by Agent to Borrower
or applied as may be otherwise required by law. Any deficiency thereon shall be paid by Borrower to Agent, on demand.

 

4.13          Failure
to Pay Insurance.

 

If Borrower fail to
obtain insurance as hereinabove provided, or to keep the same in force, Agent, if Agent so elects, may obtain such insurance and
pay the premium therefor on behalf of Borrower, and charge Borrower’s Account therefor as a Revolving Advance and such expenses
so paid shall be part of the Obligations and Borrower shall be deemed to have requested such Revolving Advance and Revolving Credit
Lenders shall be unconditionally obligated to fund their respective Ratable Shares of each such Revolving Advance regardless of
whether the conditions under Section 8.2 have been satisfied at such time.

 

    	 

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4.14          Payment
of Taxes.

 

Borrower will pay,
when due, all taxes, assessments and other Charges lawfully levied or assessed upon Borrower or any of the Collateral including
real and personal property taxes, assessments and charges and all franchise, income, employment, social security benefits, withholding,
and sales taxes, except to the extent such taxes, assessments and other Charges are Properly Contested. If any tax by any Governmental
Body is or may be imposed on or as a result of any transaction between Borrower and Agent or any Lender which Agent or any Lender
may be required to withhold or pay or if any taxes, assessments, or other Charges remain unpaid after the date fixed for their
payment, or if any claim shall be made which, in Agent’s or any Lender’s opinion, may possibly create a valid Lien
on the Collateral, Agent may without notice to Borrower pay the taxes, assessments or other Charges and Borrower hereby indemnify
and hold Agent and each Lender harmless in respect thereof. The amount of any payment by Agent under this Section 4.14 shall
be charged to Borrower’s Account as a Revolving Advance and added to the Obligations and Borrower shall be deemed to have
requested such Revolving Advance and Revolving Credit Lenders shall be unconditionally obligated to fund their respective Ratable
Shares of each such Revolving Advance regardless of whether the conditions under Section 8.2 have been satisfied at such time,
and until Borrower shall furnish Agent with an indemnity therefor (or supply Agent with evidence satisfactory to Agent that due
provision for the payment thereof has been made), Agent may hold without interest any balance standing to Borrower’s credit
and Agent shall retain its security interest in and Lien on any and all Collateral held by Agent.

 

4.15          Payment
of Leasehold Obligations.

 

Borrower shall at all
times pay, when and as due, its rental obligations under all leases under which it is a tenant, and shall otherwise comply, in
all material respects, with all other terms of such leases and keep them in full force and effect and, at Agent’s request
will provide evidence of having done so.

 

4.16          Payment
of Premiums. 

 

Borrower shall cause
all premiums on each Policy to be paid at least three (3) Business Days prior to the last date on which the failure to make such
payment would cause or permit the Obligor or any other Person to cause such Policy to terminate. Borrower will promptly notify
Agent in the event there are insufficient funds to pay any such premium in full prior to such third (3rd) day.

 

4.17          Exculpation
of Liability.

 

Nothing herein contained
shall be construed to constitute Agent or any Lender as Borrower’s agent for any purpose whatsoever, nor shall Agent or any
Lender be responsible or liable for any shortage, discrepancy, damage, loss or destruction of any part of the Collateral wherever
the same may be located and regardless of the cause thereof. Neither Agent nor any Lender, whether by anything herein or in any
assignment or otherwise, assume any of Borrower’s obligations under any contract or agreement assigned to Agent or such Lender,
and neither Agent nor any Lender shall be responsible in any way for the performance by Borrower of any of the terms and conditions
thereof unless Agent or any Lender in the exercise of its rights hereunder takes steps to perform any of Borrower’s obligations
under any contract or agreement, in such event Agent or any Lender shall be liable for its gross negligence or willful misconduct.

 

    	 

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4.18          Environmental
Matters.

 

(a)          Borrower
shall ensure that all of its operations and businesses conducted on the Real Property owned or leased by Borrower remains in compliance
with all Environmental Laws and they shall not place or permit to be placed any Hazardous Substances on any Real Property except
as permitted by Applicable Law or appropriate governmental authorities.

 

(b)          Borrower
shall establish and maintain a system to assure and monitor continued compliance with all applicable Environmental Laws which system
shall include periodic reviews of such compliance.

 

(c)          Borrower
shall (i) employ in connection with the use of the Real Property appropriate technology necessary to maintain compliance with any
applicable Environmental Laws and (ii) dispose of any and all Hazardous Waste generated at the Real Property only at facilities
and with carriers that maintain valid permits under RCRA and any other applicable Environmental Laws. Borrower shall use their
best efforts to obtain certificates of disposal, such as hazardous waste manifest receipts, from all treatment, transport, storage
or disposal facilities or operators employed by Borrower in connection with the transport or disposal of any Hazardous Waste generated
at the Real Property.

 

(d)          In
the event Borrower obtains, gives or receives notice of any Release or threat of Release of a reportable quantity of any Hazardous
Substances at the Real Property (any such event being hereinafter referred to as a “Hazardous Discharge”) or
receives any notice of violation, request for information or notification that it is potentially responsible for investigation
or cleanup of environmental conditions at the Real Property, demand letter or complaint, order, citation, or other written notice
with regard to any Hazardous Discharge or violation of Environmental Laws affecting the Real Property or Borrower’s interest
therein (any of the foregoing is referred to herein as an “Environmental Complaint”) from any Person, including
any state agency responsible in whole or in part for environmental matters in the state in which the Real Property is located or
the United States Environmental Protection Agency (any such person or entity hereinafter the “Authority”), then
Borrower shall, within five (5) Business Days, give written notice of the same to Agent detailing facts and circumstances of which
Borrower is aware giving rise to the Hazardous Discharge or Environmental Complaint. Such information is to be provided to allow
Agent to protect its security interest in and Lien on the Collateral and is not intended to create nor shall it create any obligation
upon Agent or any Lender with respect thereto.

 

(e)          Borrower
shall promptly forward to Agent copies of any request for information, notification of potential liability, demand letter relating
to potential responsibility with respect to the investigation or cleanup of Hazardous Substances at any other site owned, operated
or used by Borrower to dispose of Hazardous Substances and shall continue to forward copies of correspondence between Borrower
and the Authority regarding such claims to Agent until the claim is settled. Borrower shall promptly forward to Agent copies of
all documents and reports concerning a Hazardous Discharge at the Real Property that Borrower is required to file under any Environmental
Laws. Such information is to be provided solely to allow Agent to protect Agent’s security interest in and Lien on the Collateral.

 

    	 

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(f)          Borrower
shall respond promptly to any Hazardous Discharge or Environmental Complaint and take all necessary action in order to safeguard
the health of any Person and to avoid subjecting the Collateral to any Lien. If Borrower shall fail to respond promptly to any
Hazardous Discharge or Environmental Complaint or Borrower shall fail to comply with any of the requirements of any Environmental
Laws, Agent on behalf of Lenders may, but without the obligation to do so, for the sole purpose of protecting Agent’s interest
in the Collateral: (A) give such notices or (B) enter onto the Real Property (or authorize third parties to enter onto the Real
Property) and take such actions as Agent (or such third parties as directed by Agent) deem reasonably necessary or advisable, to
clean up, remove, mitigate or otherwise deal with any such Hazardous Discharge or Environmental Complaint. All reasonable costs
and expenses incurred by Agent and Lenders (or such third parties) in the exercise of any such rights, including any sums paid
in connection with any judicial or administrative investigation or proceedings, fines and penalties, together with interest thereon
from the date expended at the Default Rate shall be paid upon demand by Borrower, and until paid shall be added to and become a
part of the Obligations secured by the Liens created by the terms of this Agreement or any other agreement between Agent, any Lender
and Borrower.

 

(g)          Borrower
shall defend and indemnify Agent and Lenders and hold Agent, Lenders and their respective employees, agents, directors and officers
harmless from and against all loss, liability, damage and expense, claims, costs, fines and penalties, including attorney’s
fees, suffered or incurred by Agent or Lenders under or on account of any Environmental Laws, including the assertion of any Lien
thereunder, with respect to any Hazardous Discharge caused by Borrower, the presence of any Hazardous Substances used by Borrower
(except for such quantities as are handled in accordance with all applicable manufacturer’s instructions and governmental
regulations and in proper storage containers and as are necessary for the operation of the commercial business of Borrower or of
its tenants). Borrower’s obligations under this Section 4.18 shall arise upon the discovery of the presence of any Hazardous
Substances at the Real Property, whether or not any federal, state, or local environmental agency has taken or threatened any action
in connection with the presence of any Hazardous Substances. Borrower’s obligation and the indemnifications hereunder shall
survive the termination of this Agreement.

 

4.19          Financing
Statements.

 

Except as respects
the financing statements filed by Agent, no financing statement covering any of the Collateral or any proceeds thereof is on file
with the Secretary of State of the State of Nevada.

 

4.20          Appraisals.

 

Agent may, in its sole
discretion, exercised in a commercially reasonable manner, at any time after the Closing Date, after providing adequate notice
to Borrower consisting of not less than five (5) Business Days, engage the services of an independent appraisal firm or firms of
reputable standing, satisfactory to Agent, for the purpose of appraising the then current values of the Policies, and Borrower
shall provide the employees and agents of such appraisal firms with access to the business premises and Policies to conduct such
appraisals in the same manner as Borrower are obligated to provide access to Agent for inspections and collateral evaluations under
Section 4.11 and Borrower shall be liable for Agent’s costs and expenses in connection with such appraisals.

 

    	 

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ARTICLE
V

REPRESENTATIONS AND WARRANTIES

 

Borrower represents
and warrants as follows:

 

5.1          Authority.

 

Borrower has full power,
authority and legal right to enter into this Agreement and the Other Documents and to perform all its Obligations hereunder and
thereunder. This Agreement and the Other Documents have been duly executed and delivered by Borrower, and this Agreement and the
Other Documents constitute the legal, valid and binding obligation of Borrower enforceable in accordance with their terms, except
as such enforceability may be limited by any applicable bankruptcy, insolvency, moratorium or similar laws affecting creditors’
rights generally. The execution, delivery and performance of this Agreement and of the Other Documents (a) are within Borrower’s
limited liability company powers, have been duly authorized by all necessary limited liability company action, are not in contravention
of law or the terms of Borrower’s Organizational Documents or of any material agreement or undertaking to which Borrower
is a party or by which Borrower is bound, (b) will not conflict with or violate any law or regulation, or any judgment, order or
decree of any Governmental Body, (c) will not require the Consent of any Governmental Body or any other Person, except those Consents
set forth on Schedule 5.1, all of which will have been duly obtained, made or compiled prior to the Closing Date and which are
in full force and effect and (d) will not conflict with, nor result in any breach in any of the provisions of or constitute a default
under or result in the creation of any Lien except Permitted Encumbrances upon any asset of Borrower under the provisions of any
Organizational Document, any material agreement or other instrument to which Borrower is a party or by which it or its property
is a party or by which it may be bound.

 

5.2          Formation
and Qualification.

 

Borrower is duly formed
and in good standing under the laws of the State of Nevada and is qualified to do business and is in good standing in the states
indicated on Schedule 5.2 which constitute all states in which qualification and good standing are necessary for Borrower to conduct
it business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect.
Borrower has delivered to Agent true and complete copies of its Organizational Documents and will promptly notify Agent of any
amendment or changes thereto.

 

    	 

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5.3          Survival
of Representations and Warranties.

 

All representations
and warranties of Borrower contained in this Agreement and the Other Documents shall be true at the time of Borrower’s execution
of this Agreement and the Other Documents, and shall survive the execution, delivery and acceptance thereof by the parties thereto
and the closing of the transactions described therein or related thereto.

 

5.4          Tax
Returns.

 

Borrower’s federal
tax identification number is set forth on Schedule 5.4. Except as set forth on Schedule 5.4, Borrower has filed all federal, state
and local tax returns and other reports they are required by law to file and has paid all taxes, assessments, fees and other governmental
charges that are due and payable. To the best of Borrower’s knowledge, the provision for taxes on the books of Borrower are
adequate for all years not closed by applicable statutes, and for its current fiscal year, and Borrower have no knowledge of any
deficiency or additional assessment in connection therewith not provided for on its books.

 

5.5          Entity
Name and Locations.

 

Except as set forth
on Schedule 5.5, Borrower has not been known by any other name in the past five years, nor has Borrower been the surviving corporation
of a merger or consolidation or acquired all or substantially all of the assets of any Person during the preceding five (5) years.

 

5.6          O.S.H.A.
and Environmental Compliance.

 

(a)          Borrower
has duly complied with, and its facilities, business, assets, property, leaseholds, Real Property and Equipment are in compliance
in all material respects with, the provisions of the Federal Occupational Safety and Health Act, the Environmental Protection Act,
RCRA and all other Environmental Laws; there have been no outstanding citations, notices or orders of non-compliance issued to
Borrower or relating to its business, assets, property or leaseholds under any such laws, rules or regulations.

 

(b)          Borrower
has been issued all required federal, state and local licenses, certificates or permits relating to all applicable Environmental
Laws.

 

(c)          (i)
There are no visible signs of releases, spills, discharges, leaks or disposal (collectively referred to as “Releases”)
of Hazardous Substances at, upon, under or within any Real Property including any premises leased by Borrower; (ii) to the best
of Borrower’s knowledge, there are no underground storage tanks or polychlorinated biphenyls on the Real Property including
any premises leased by Borrower; (iii) to the best of Borrower’s knowledge, the Real Property including any premises leased
by Borrower has never been used as a treatment, storage or disposal facility of Hazardous Waste; and (iv) to the best of Borrower’s
knowledge, no Hazardous Substances are present on the Real Property including any premises leased by Borrower, excepting such quantities
as are handled in accordance with all applicable manufacturer’s instructions and governmental regulations and in proper storage
containers and as are necessary for the operation of the commercial business of Borrower or of its tenants.

 

    	 

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5.7          Financial
Condition; No Litigation, Violation, Indebtedness or Default.

 

(a)          After
giving effect to the Transactions and the funding of Revolving Advances on the Closing Date, Borrower will be able to pay its debts
as they mature, will have capital sufficient to carry on its business and all businesses in which it is about to engage, and (i)
as of the Closing Date, the fair value of its assets is in excess of the amount of its liabilities and (ii) subsequent to the Closing
Date, the fair saleable value of its assets will be in excess of the amount of its liabilities.]

 

(b)          Except
as set forth on Schedule 5.7, Borrower has no (i) pending or, to the best of Borrower’s knowledge, threatened litigation,
arbitration, actions or proceedings which involve the possibility of having a Material Adverse Effect or challenging Borrower’s
ownership or beneficiary status with respect to any Policy, and (ii) liabilities or indebtedness for borrowed money other than
the Obligations.

 

(c)          Borrower
is not in violation of any applicable statute, law, rule, regulation or ordinance in any respect which could reasonably be expected
to have a Material Adverse Effect, nor is Borrower in violation of any order of any court, Governmental Body or arbitration board
or tribunal.

 

(d)          Borrower
does not maintain and is not required to contribute to any Plan.

 

5.8          Licenses
and Permits.

 

Borrower (a) is in
compliance with and (b) has procured and is now in possession of, all material licenses or permits required by any applicable federal,
state or local law, rule or regulation for the operation of its business in each jurisdiction wherein it is now conducting or propose
to conduct business.

 

5.9          Default
of Indebtedness.

 

Borrower is not in
default in the payment of (i) any premiums on the Policies or (ii) the principal of or interest on any Indebtedness or under any
instrument or agreement under or subject to which any Indebtedness has been issued and no event has occurred under the provisions
of any such instrument or agreement which with or without the lapse of time or the giving of notice, or both, constitutes or would
constitute an event of default thereunder.

 

5.10          No
Default.

 

Borrower is not in
default in the payment or performance of any of its contractual obligations and no Default or Event of Default has occurred.

 

5.11          No
Burdensome Restrictions.

 

Borrower is not a party
to any contract or agreement the performance of which could have a Material Adverse Effect. Borrower has heretofore delivered to
Agent true and complete copies of all material contracts to which it is a party or to which it or any of its properties is subject.
Borrower has not agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of
its property, whether now owned or hereafter acquired, to be subject to a Lien which is not a Permitted Encumbrance.

 

    	 

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5.12          Margin
Regulations.

 

Borrower is not engaged,
nor will it engage, principally or as one of its important activities, in the business of extending credit for the purpose of “purchasing”
or “carrying” any “margin stock” within the respective meanings of each of the quoted terms under Regulation
U of the Board of Governors of the Federal Reserve System as now and from time to time hereafter in effect. No part of the proceeds
of any Advance will be used for “purchasing” or “carrying” “margin stock” as defined in Regulation
U of such Board of Governors.

 

5.13          Financial
Condition; No Material Adverse Change.

 

Borrower has heretofore
furnished to Lenders its consolidated balance sheet and consolidated statements of operations, equity and cash flows (i) as of
and for the fiscal year ended August 31, 2011, reported on by Marcum LLP, independent public accountants, and (ii) as of and for
the fiscal quarter ended May 31, 2012, certified by a financial officer of Borrower. Such financial statements present fairly,
in all material respects, the financial position and results of operations and cash flows of Borrower and its consolidated Subsidiaries
as of such dates and for such periods in accordance with GAAP subject, in the case of the statements referred to in clause (ii)
above, to normal year-end audit adjustments (all of which, when taken as a whole, would not be materially adverse) and the absence
of footnotes. No event, change or condition has occurred that has had, or could reasonably be expected to have, a Material Adverse
Effect, since May 31, 2012.

 

5.14          Disclosure.

 

No representation or
warranty made by Borrower in this Agreement or in any report, certificate or any other document furnished in connection herewith
or therewith contains any untrue statement of a material fact or omits to state any material fact necessary to make the statements
herein or therein not misleading. There is no fact known to Borrower which Borrower has not disclosed to Agent in writing with
respect to the transactions contemplated by this Agreement which could reasonably be expected to have a Material Adverse Effect.

 

5.15          Conflicting
Agreements.

 

No provision of any
mortgage, indenture, contract, agreement, judgment, decree or order binding on Borrower or affecting the Collateral conflicts with,
or requires any Consent which has not already been obtained to, or would in any way prevent the execution, delivery or performance
of, the terms of this Agreement or the Other Documents.

 

5.16          Application
of Certain Laws and Regulations.

 

Borrower is not subject
to any law, statute, rule or regulation which regulates the incurrence of any Indebtedness.

 

    	 

    	 	39

    
 

5.17          Business
and Property of Borrower.

 

Upon and after the
Closing Date, Borrower does not propose to engage in any business other than that engaged in by it or any of its Subsidiaries immediately
prior to and on the Closing Date.

 

5.18          Anti-Terrorism
Laws.

 

(a)          General.
Neither Borrower nor any Affiliate of Borrower is in violation of any Anti-Terrorism Law or engages in or conspires to engage in
any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions
set forth in any Anti-Terrorism Law.

 

(b)          Executive
Order No. 13224. Neither Borrower nor any Affiliate of Borrower or its respective agents acting or benefiting in any capacity
in connection with the Advances or other transactions hereunder, is any of the following (each a “Blocked Person”):

 

(i)          a
Person that is listed in the annex to, or is otherwise subject to the provisions of, the Executive Order No. 13224;

 

(ii)          a
Person owned or controlled by, or acting for or on behalf of, any Person that is listed in the annex to, or is otherwise subject
to the provisions of, the Executive Order No. 13224;

 

(iii)          a
Person or entity with which any Lender is prohibited from dealing or otherwise engaging in any transaction by any Anti-Terrorism
Law;

 

(iv)          a
Person or entity that commits, threatens or conspires to commit or supports “terrorism” as defined in the Executive
Order No. 13224;

 

(v)          a
Person or entity that is named as a “specially designated national” on the most current list published by the U.S.
Treasury Department Office of Foreign Asset Control at its official website or any replacement website or other replacement official
publication of such list, or

 

(vi)          a
Person or entity who is affiliated or associated with a Person or entity listed above.

 

Neither Borrower nor,
to the knowledge of Borrower, any of its agents acting in any capacity in connection with the Advances or other transactions hereunder
(i) conducts any business or engages in making or receiving any contribution of funds, goods or services to or for the benefit
of any Blocked Person, or (ii) deals in, or otherwise engages in any transaction relating to, any property or interests in property
blocked pursuant to the Executive Order No. 13224.

 

    	 

    	 	40

    
 

5.19          Trading
with the Enemy.

 

Borrower has not engaged,
nor does it intend to engage, in any business or activity prohibited by the Trading with the Enemy Act.

 

5.20          Equity
Interests. 

 

The authorized and
outstanding Equity Interests of Borrower, and each legal and beneficial holder thereof as of the Closing Date, is as set forth
on Schedule 5.20. All of the Equity Interests of Borrower have been duly and validly authorized and issued and are fully paid and
non-assessable and have been sold and delivered to the holders hereof in compliance with, or under valid exemption from, all federal
and state laws and the rules and regulations of each Governmental Body governing the sale and delivery of securities. Except for
the rights and obligations set forth on Schedule 5.20, there are no subscriptions, warrants, options, calls, commitments, rights
or agreement by which Borrower or any of the shareholders of Borrower is bound relating to the issuance, transfer, voting or redemption
of shares of its Equity Interests or any pre-emptive rights held by any Person with respect to the Equity Interests of Borrower.
Except as set forth on Schedule 5.20, Borrower has not issued any securities convertible into or exchangeable for shares of its
Equity Interests or any options, warrants or other rights to acquire such shares or securities convertible into or exchangeable
for such shares.

 

5.21          Commercial
Tort Claims.

 

Borrower is not a party
to any commercial tort claims except as set forth on Schedule 5.21 (which Schedule 5.21 may be updated at any time and from time
to time with the prior written consent of Agent).

 

5.22          Letter
of Credit Rights.

 

Borrower does not have
any letter of credit rights, except as set forth on Schedule 5.22 (which Schedule 5.22 may be updated at any time and from time
to time with the prior written consent of Agent).

 

5.23          Material
Contracts.

 

Set forth on Schedule 5.23
(which Schedule 5.23 may be updated at any time and from time to time with the prior written consent of Agent), as updated from
time to time, is a complete and accurate list of all Material Contracts of Borrower. All of the Material Contracts are in full
force and effect, and no material defaults currently exist thereunder.

 

5.24          SEC
Documents, Financial Statements.

 

The common stock of
Borrower is registered pursuant to Section 12(b) or 12(g) of the Exchange Act, and Borrower has timely filed all reports, schedules,
forms, statements and other documents required to be filed by it with the SEC pursuant to the reporting requirements of the Exchange
Act (all of the foregoing including filings incorporated by reference therein being referred to herein as the “Commission
Documents”).  Each Commission Document complied in all material respects with the requirements of the Exchange Act
and the rules and regulations of the SEC promulgated thereunder and other federal, state and local laws, rules and regulations
applicable to such documents, and the Commission Documents do not contain any untrue statement of a material fact or omit to state
a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances
under which they were made, not misleading.  As of their respective dates, the financial statements of Borrower included in
the Commission Documents complied as to form in all material respects with applicable accounting requirements and the published
rules and regulations of the SEC or other applicable rules and regulations with respect thereto.  Such financial statements
have been prepared in accordance with GAAP applied on a consistent basis during the periods involved (except (i) as may be otherwise
indicated in such financial statements or the notes thereto or (ii) in the case of unaudited interim statements, to the extent
they may not include footnotes or may be condensed or summary statements), and fairly present in all material respects the financial
position of Borrower and its Subsidiaries as of the dates thereof and the results of operations and cash flows for the periods
then ended (subject, in the case of unaudited statements, to normal year-end audit adjustments).

 

    	 

    	 	41

    
 

ARTICLE
VI

AFFIRMATIVE COVENANTS

 

Borrower shall, until
payment in full of the Obligations and termination of this Agreement:

 

6.1          Payment
of Fees.

 

Pay to Agent on demand
all usual and customary fees and expenses which Agent incurs in connection with the forwarding of Advance proceeds. Agent may,
without making demand, charge Borrower’s Account for all such fees and expenses.

 

6.2          Conduct
of Business and Maintenance of Existence and Assets.

 

(a)          Conduct
continuously and operate actively its business according to good business practices and maintain all of their properties useful
or necessary in its business in good working order and condition (reasonable wear and tear excepted and except as may be disposed
of in accordance with the terms of this Agreement); (b) keep in full force and effect its existence and comply in all material
respects with the laws and regulations governing the conduct of its business; and (c) make all such reports and pay all such franchise
and other taxes and license fees and do all such other acts and things as may be lawfully required to maintain its rights, licenses,
leases, powers and franchises under the laws of the United States or any political subdivision thereof.

 

6.3          Violations.

 

Promptly notify Agent
in writing of any violation of any law, statute, regulation or ordinance of any Governmental Body, or of any agency thereof, applicable
to Borrower.

 

    	 

    	 	42

    
 

6.4          Execution
of Supplemental Instruments.

 

Execute and deliver
to Agent from time to time, upon demand, such supplemental agreements, statements, assignments and transfers, or instructions or
documents relating to the Collateral, and such other instruments as Agent may request, in order that the full intent of this Agreement
may be carried into effect.

 

6.5          Payment
of Indebtedness.

 

Pay, discharge or otherwise
satisfy at or before maturity (subject, where applicable, to specified grace periods and, in the case of the trade payables, to
normal payment practices) all its obligations and liabilities of whatever nature, except when the amount or validity thereof is
currently being Properly Contested.

 

6.6          Standards
of Financial Statements.

 

Cause all financial
statements referred to in Sections 9.5, 9.6, 9.7 and 9.8 as to which GAAP is applicable to be complete and correct in all material
respects (subject, in the case of interim financial statements, to normal year-end audit adjustments) and to be prepared in reasonable
detail and in accordance with GAAP applied consistently throughout the periods reflected therein (except as concurred in by such
reporting accountants or officer, as the case may be, and disclosed therein).

 

6.7          Compliance
With Asset Documents and Operating Policies and Practices.

 

Borrower shall timely
and fully perform and comply in all material respects with all provisions, covenants and other promises required to be observed
by it under the Policy Documents related to the Policies.

 

6.8          Perfection
of Security Interest in Policies.

 

Borrower shall, not
later than twenty (20) days after the Closing Date (or such later date as Agent shall agree in its sole discretion), take all actions
reasonably necessary with respect to each Policy to cause Agent to have, for its benefit and the benefit of Lenders, a valid and
perfected first priority security interest in such Policy, including, without limitation, the delivery to Agent of (i) the applicable
Obligor’s acknowledgement and consent to Agent’s security interest, in such form as Agent and the applicable Obligor
shall approve, and (ii) the consent to the assignment of such security interest to Agent of any beneficiary designated as “irrevocable”
with respect to such Policy.

 

6.9          Registration
and Listing.

 

Borrower shall comply
in all respects with its reporting and filing obligations under the Exchange Act and to not take any action or file any document
(whether or not permitted by the Securities Act or the rules promulgated thereunder) to terminate or suspend such registration
or to terminate or suspend its reporting and filing obligations under the Exchange Act or Securities Act.

 

    	 

    	 	43

    
 

ARTICLE
VII

NEGATIVE COVENANTS

 

Borrower shall not, until satisfaction in
full of the Obligations and termination of this Agreement:

 

7.1          Merger,
Consolidation, Acquisition and Sale of Assets.

 

(a)          Enter
into any merger, consolidation or other reorganization with or into any other Person or without the prior consent of Agent, acquire
all or a substantial portion of the assets or Equity Interests of any Person or permit any other Person to consolidate with or
merge with any of them.

 

(b)          Sell,
lease, transfer or otherwise dispose of any of their properties or assets.

 

7.2          Creation
of Liens.

 

Create or suffer to
exist any Lien upon or against any of its property or assets now owned or hereafter acquired, except Permitted Encumbrances.

 

7.3          Guarantees.

 

Become liable upon
the obligations or liabilities of any Person by assumption, endorsement or Guaranty thereof or otherwise (other than to Lenders)
except he endorsement of checks in the Ordinary Course of Business.

 

7.4          Investments.

 

Purchase or acquire
obligations or Equity Interests of, or any other interest in, or make any investment in, any Person after the date hereof, except
Borrower may make addition investments in Infinity provided that the aggregate amount of such investments, together with any loans,
advances and extensions of credit made by Borrower to Infinity, shall not exceed $500,000.

 

7.5          Loans.

 

Make advances, loans
or extensions of credit to any Person, except that Borrower shall be permitted to make advances, loans and extensions of credit
to Infinity provided that the aggregate amount of such loans, advances and extensions of credit, together with any investment made
by Borrower in Infinity, shall not exceed $500,000.

 

7.6          Capital
Expenditures.

 

Contract for,
purchase or make any expenditure or commitments for Capital Expenditures.

 

    	 

    	 	44

    
 

7.7          Dividends
and Distributions; Other Payments.

 

(a)          Pay
or make any distribution on any Equity Interests of Borrower or apply any of its funds, property or assets to the purchase, redemption
or other retirement of any Equity Interests, or of any options to purchase or acquire any such Equity Interests of Borrower, or
make any payments of management fees.

 

7.8          Indebtedness.

 

Create, incur, assume or suffer to exist
any Indebtedness except in respect of Indebtedness to Agent and Lenders under this Agreement and the Other Documents.

 

7.9          Nature
of Business.

 

Substantially change
the nature of the business in which it is presently engaged, nor purchase or invest, directly or indirectly, in any assets or property
other than in the Ordinary Course of Business for assets or property which are useful in, necessary for and are to be used in its
business as presently conducted.

 

7.10          Transactions
with Affiliates.

 

Directly or indirectly,
purchase, acquire or lease any property from, or sell, transfer or lease any property to, or otherwise enter into any transaction
or deal with, any Affiliate, except for transactions disclosed to Agent in writing, which are in the Ordinary Course of Business,
on an arm’s-length basis on terms and conditions no less favorable than terms and conditions which would have been obtainable
from a Person other than an Affiliate.

 

7.11          Leases.

 

Enter as lessee into
any lease arrangement for real or personal property.

 

7.12          Subsidiaries.

 

(a)          Form
or acquire any Subsidiary after the Closing Date.

 

(b)          Enter
into any partnership, joint venture or similar arrangement.

 

7.13          Fiscal
Year and Accounting Changes.

 

Change its fiscal year
from a fiscal year ending on or about December 31 or make any change (i) in accounting treatment and reporting practices except
as required by GAAP or (ii) in tax reporting treatment except as required by law.

 

7.14          Pledge
of Credit.

 

Now or hereafter pledge
Agent’s or any Lender’s credit on any purchases or for any purpose whatsoever or use any portion of any Advance for
a purpose not described in Section 2.10.

 

    	 

    	 	45

    
 

7.15          Amendment
of Organizational Documents.

 

Either (i) amend, modify
or waive any term or material provision of its Organizational Documents or adopt any resolution which would have the effect of
diminishing the rights of Agent or Lenders under this Agreement or any Other Document, or (ii) amend or modify any term or provision
of its Organizational Documents or take any other action that would have the effect of changing (1) its legal name as reflected
in its Organizational Documents filed of public record in its jurisdiction of organization, (2) its form of legal entity (e.g.,
converting from a corporation to a limited liability company or vice versa), or (3) its jurisdiction of organization or become
(or attempt or purport to become) organized in more than one jurisdiction, in any case under this clause (ii) without first (x)
giving at least thirty (30) days prior written notice of such intended change to Agent and (y) having received from Agent confirmation
that Agent shall have taken all steps necessary for Agent to continue the perfections of and protect the enforceability and priority
of its Liens in the Collateral belonging to Borrower and in the Equity Interests of Borrower.

 

7.16          ERISA
Plans.

 

Maintain or become
obligated to contribute to any Plan.

 

7.17          Prepayment
of Indebtedness.

 

At any time, prepay,
repurchase, redeem, retire or otherwise acquire, or make any payment on account of any principal of, interest on or premium payable
in connection with the prepayment or redemption of, any Indebtedness (other than Indebtedness owed to the Lender under this Agreement
or the Other Documents).

 

7.18          Anti-Terrorism
Laws.

 

(a)          Conduct
any business or engage in any transaction or dealing with any Blocked Person, including the making or receiving any contribution
of funds, goods or services to or for the benefit of any Blocked Person.

 

(b)          Deal
in, or otherwise engage in any transaction relating to, any property or interests in property blocked pursuant to the Executive
Order No. 13224.

 

(c)          Engage
in or conspire to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate,
any of the prohibitions set forth in the Executive Order No. 13224, the USA PATRIOT Act or any other Anti-Terrorism Law. Borrower
shall deliver to Agent and Lenders any certification or other evidence requested from time to time by Agent or any Lender confirming
Borrower’s compliance with this Section.

 

7.19          Restrictive
Agreements. Enter
into or otherwise permit itself or its assets to be come bound by any contract, instrument or other agreement which would prohibit
or limit the ability of Borrower to make any dividend or other distribution of any nature (whether in cash, property, securities
or otherwise) on account of or in respect of its Equity Interests.

 

7.20          Trading
with the Enemy Act.

 

Engage in any business
or activity in violation of the Trading with the Enemy Act.

 

    	 

    	 	46

    
 

7.21          Additional
Negative Pledges.

 

Create or otherwise
cause or suffer to exist or become effective, directly or indirectly, (i) any prohibition or restriction (including any agreement
to provide equal and ratable security to any other Person in the event a Lien is granted to or for the benefit of Agent and Lenders)
on the creation or existence of any Lien upon the assets of Borrower, other than Permitted Encumbrances, or (ii) any contractual
obligation which may restrict or inhibit Agent’s rights or ability to sell or otherwise dispose of the Collateral or any
part thereof after the occurrence of an Event of Default.

 

ARTICLE
VIII

CONDITIONS PRECEDENT

 

8.1          Conditions
to Initial Advances. The
agreement of Lenders to make the initial Advances requested to be made on the Closing Date is subject to the satisfaction, or waiver
by Agent, immediately prior to or concurrently with the making of such Advances, of the following conditions precedent, provided
that Lenders may, in their sole discretion, elect not to make an Advance if the conditions set forth below are satisfied or waived:

 

(a)          Other
Documents. Agent shall have received the executed Other Documents, all in form and substance satisfactory to Agent;

 

(b)          Closing
Certificate. Agent shall have received a closing certificate signed by the Secretary or Assistant Secretary of Borrower, dated
as of the date hereof, stating that (i) all representations and warranties set forth in this Agreement and the Other Documents
are true and correct on and as of such date, and (ii) on such date no Default or Event of Default has occurred or is continuing;

 

(c)          Filings,
Registrations and Recordings. Each document (including any Uniform Commercial Code financing statement) required by this Agreement
or any Other Document or under law or reasonably requested by Agent to be filed, registered or recorded in order to create, in
favor of Agent, a perfected security interest in or lien upon the Collateral or the collateral described in any Other Document
shall have been properly filed, registered or recorded in each jurisdiction in which the filing, registration or recordation thereof
is so required or requested, and Agent shall have received an acknowledgment copy, or other evidence satisfactory to it, of each
such filing, registration or recordation and satisfactory evidence of the payment of any necessary fee, tax or expense relating
thereto;

 

(d)          Secretary’s
Certificates, Authorizing Resolutions and Good Standings. Agent shall have received a certificate of the Secretary or Assistant
Secretary of Borrower in form and substance satisfactory to Agent dated as of the Closing Date which shall certify (i) copies of
resolutions in form and substance reasonably satisfactory to Agent, of the board of directors of Borrower authorizing (x) the execution,
delivery and performance of this Agreement and each Other Document to which Borrower is a party (including authorization of the
incurrence of indebtedness, borrowing of Revolving Advances and Term Loan), and (y) the granting by Borrower of the security interests
in and liens upon the Collateral to secure all of the Obligations (and such certificate shall state that such resolutions have
not been amended, modified, revoked or rescinded as of the date of such certificate), (ii) the incumbency and signature of the
officers of Borrower authorized to execute this Agreement and the Other Documents, (iii) copies of the Organizational Documents
of Borrower as in effect on such date, complete with all amendments thereto, and (iv) the good standing (or equivalent status)
of Borrower in its jurisdiction of organization and each applicable jurisdiction where the conduct of Borrower’s business
activities or the ownership of its properties necessitates qualification, as evidenced by good standing certificate(s) (or the
equivalent thereof issued by any applicable jurisdiction) dated not more than thirty (30) days prior to the Closing Date, issued
by the Secretary of State or other appropriate official of each such jurisdiction;

 

    	 

    	 	47

    
 

(e)          Legal
Opinion. Agent shall have received the executed legal opinions of counsel to Borrower, in form and substance satisfactory to
Agent, which shall cover such matters incident to the transactions contemplated by this Agreement and the Other Documents, as Agent
may reasonably require and Borrower hereby authorizes and directs such counsel to deliver such opinions to Agent and Lenders;

 

(f)          No
Litigation. No litigation, investigation or proceeding before or by any arbitrator or Governmental Body shall be continuing
or threatened against Borrower (A) in connection with this Agreement, the Other Documents, or any of the transactions contemplated
hereby or thereby and which, in the reasonable opinion of Agent, is deemed material or (B) which could, in the reasonable opinion
of Agent, have a Material Adverse Effect; and (ii) no injunction, writ, restraining order or other order of any nature materially
adverse to Borrower or the conduct of its business or inconsistent with the due consummation of the transactions contemplated by
this Agreement or the Other Documents shall have been issued by any Governmental Body;

 

(g)          Collateral
Examination. Agent shall have completed Collateral examinations and received appraisals, the results of which shall be satisfactory
in form and substance to Agent, of the Policies;

 

(h)          Fees.
Agent shall have received all fees and expenses, including fees and expenses of counsel to Agent and Lenders, payable to Agent
and Lenders on or prior to the Closing Date hereunder;

 

(i)          Insurance.
Agent shall have received in form and substance satisfactory to Agent, (i) evidence that adequate insurance, including without
limitation, casualty and liability insurance, required to be maintained under this Agreement is in full force and effect, (ii)
insurance certificates issued by Borrower’s insurance broker containing such information regarding Borrower’s casualty
and liability insurance policies as Agent shall request and naming Agent as an additional insured, lenders loss payee and/or mortgagee,
as applicable, and (iii) loss payable endorsements issued by Borrower’s insurer naming Agent as lenders loss payee and mortgagee
(as to casualty/business interruption insurance and additional insured, as to liability), as applicable;

 

(j)          Payment
Instructions. Agent shall have received written instructions from Borrower directing the application of proceeds of the initial
Advances made pursuant to this Agreement;

 

(k)          Consents.
Agent shall have received any and all Consents necessary to permit the effectuation of the transactions contemplated by this Agreement
and the Other Documents; and, Agent shall have received such Consents and waivers of such third parties as might assert claims
with respect to the Collateral, as Agent and its counsel shall deem necessary;

 

(l)          No
Adverse Material Change. (i) Since December 31, 2011, there shall not have occurred any event, condition or state of facts
which could reasonably be expected to have a Material Adverse Effect and (ii) no representations made or information supplied to
Agent or Lenders shall have been proven to be inaccurate or misleading in any material respect;

 

(m)          Compliance
with Laws. Agent shall be reasonably satisfied that Borrower is in compliance with all pertinent federal, state, local or territorial
regulations, including those with respect to the Federal Occupational Safety and Health Act, the Environmental Protection Act,
ERISA and the Trading with the Enemy Act; and

 

(n)          Other.
All corporate and other proceedings, and all documents, instruments and other legal matters in connection with the Transactions
shall be satisfactory in form and substance to Agent and its counsel.

 

8.2          Conditions
to Each Advance. The
agreement of Lenders to make any Advances requested to be made on any date (including the initial Advance), is subject to the satisfaction
of the following conditions precedent as of the date such Advance is made, provided that Lenders may, in their sole discretion,
elect not to make an Advance if the conditions set forth below are satisfied or waived:

 

(a)          Representations
and Warranties. Each of (x) the representations and warranties made by Borrower in or pursuant to this Agreement, the Other
Documents and any related agreements to which it is a party, and (y) each of the representations and warranties contained in any
certificate, document or financial or other statement furnished at any time under or in connection with this Agreement, the Other
Documents or any related agreement, shall be true and correct in all respects on and as of such date as if made on and as of such
date (except to the extent any such representation or warranty expressly relates only to any earlier and/or specified date, in
which case such representation or warranty shall have been true and correct in all respects on such date); and

 

(b)          No
Default. No Event of Default or Default shall have occurred and be continuing on such date, or would exist after giving effect
to the Advances requested to be made, on such date.

 

Each request for an
Advance by Borrower hereunder shall constitute a representation and warranty by Borrower as of the date of such Advance that the
conditions contained in this subsection shall have been satisfied.

 

    	 

    	 	48

    
 

ARTICLE
IX

INFORMATION AS TO BORROWERS

 

Borrower shall, until
satisfaction in full of the Obligations and the termination of this Agreement:

 

9.1          Disclosure
of Material Matters.

 

Immediately upon learning
thereof, report to Agent all matters materially affecting the value, enforceability or collectability of any portion of the Collateral.

 

9.2          Environmental
Reports.

 

Furnish Agent, concurrently
with the delivery of the financial statements referred to in Section 9.5, a Compliance Certificate signed by the President (or
such other officer permitted to execute the Compliance Certificate) of Borrower stating, to the best of his/her knowledge, that
Borrower is in compliance in all material respects with all federal, state and local Environmental Laws. To the extent Borrower
is not in compliance with the foregoing laws, the Compliance Certificate shall set forth with specificity all areas of non compliance
and the proposed action the Borrower will implement in order to achieve full compliance.

 

9.3          Litigation.

 

Promptly notify Agent
in writing of any claim, litigation, suit or administrative proceeding affecting Borrower, whether or not the claim is covered
by insurance, and of any litigations, suit or administrative proceeding, which in any such case affects the Collateral or which
could reasonably be expected to have a Material Adverse Effect.

 

9.4          Material
Occurrences.

 

Promptly notify Agent
in writing upon obtaining knowledge of the occurrence of (a) any Event of Default or Default; (b) any event, development or circumstance
whereby any financial statements or other reports furnished to Agent fail in any material respect to present fairly, in accordance
with GAAP consistently applied, the financial condition or operating results of Borrower as of the date of such statements; and
(c) any other development in the business or affairs of Borrower which could reasonably be expected to have a Material Adverse
Effect; in each case describing the nature thereof and the action Borrower proposes to take with respect thereto.

 

9.5          Annual
Financial Statements.

 

Furnish Agent within
ninety (90) days after the end of each fiscal year of Borrower, audited, consolidated and consolidating financial statements of
Borrower and its Subsidiaries including, but not limited to, statements of income and stockholders’ equity and cash flow
from the beginning of the current fiscal year to the end of such fiscal year and the balance sheet as at the end of such fiscal
year, all prepared in accordance with GAAP applied on a basis consistent with prior practices, and in reasonable detail and accompanied
by a report and opinion (which report and opinion shall be prepared in accordance with generally accepted auditing standards) of
an independent certified public accounting firm selected by Borrower and satisfactory to Agent (the “Accountants”).
In addition, the reports shall be accompanied by a Compliance Certificate.

 

    	 

    	 	49

    
 

9.6          Quarterly
Financial Statements.

 

Furnish Agent within
forty-five (45) days after the end of each fiscal quarter, unaudited consolidated and consolidating balance sheet of Borrower and
unaudited consolidated and consolidating statements of income and stockholders’ equity and cash flow of Borrower reflecting
results of operations from the beginning of the fiscal year to the end of such month and for such quarter, prepared on a basis
consistent with prior practices and complete and correct in all material respects, subject to normal and recurring year end adjustments
that individually and in the aggregate are not material to Borrower’s business. The reports shall be accompanied by a Compliance
Certificate regarding the quarter then ended.

 

9.7          Other
Reports.

 

Furnish Agent as soon
as available, but in any event within (i) ten (10) days after the issuance thereof, with copies of such financial statements, reports
and returns as Borrower shall send to its stockholders and (ii) five (5) days after the same are sent, copies of all reports filed
on Form 8-K, Form 10-Q and Form 10-K that Borrower may make to, or file with, the SEC.

 

9.8          Additional
Information.

 

Furnish Agent with
such additional information as Agent shall reasonably request in order to enable Agent to determine whether the terms, covenants,
provisions and conditions of this Agreement and the Other Documents have been complied with by Borrower including, without the
necessity of any request by Agent, (a) copies of all environmental audits and reviews, (b) at least thirty (30) days prior thereto,
notice of Borrower’s opening of any new office or place of business or Borrower’s closing of any existing office or
place of business.

 

9.9          Notice
of Suits, Adverse Events.

 

Furnish Agent with
prompt written notice of (i) any lapse or other termination of any Consent issued to Borrower by any Governmental Body or any other
Person that is material to the operation of Borrower’s business, (ii) any refusal by any Governmental Body or any other Person
to renew or extend any such Consent; and (iii) copies of any periodic or special reports filed by Borrower with any Governmental
Body or Person, and (iv) copies of any material notices and other material communications from any Governmental Body or Person
which specifically relate to Borrower.

 

9.10          Additional
Documents.

 

Execute and deliver
to Agent, upon request, such documents and agreements as Agent may, from time to time, reasonably request to carry out the purposes,
terms or conditions of this Agreement.

 

    	 

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ARTICLE
X

EVENTS OF DEFAULT

 

The occurrence of any
one or more of the following events shall constitute an “Event of Default”:

 

10.1          Nonpayment.

 

Failure by Borrower
to pay any principal or interest on the Obligations when due, whether at maturity or by reason of acceleration pursuant to the
terms of this Agreement or by notice of intention to prepay, or failure to pay when due any other liabilities or make any other
payment, fee or charge provided for herein or in any Other Document when due;

 

10.2          Breach
of Representation.

 

Any representation
or warranty made or deemed made by Borrower in this Agreement, any Other Document or any related agreement or in any certificate,
document or financial or other statement furnished at any time in connection herewith or therewith shall prove to have been misleading
in any material respect on the date when made or deemed to have been made;

 

10.3          Financial
Information.

 

Failure by Borrower
to (i) furnish financial information or other reports required under ARTICLE IX when due, (ii) furnish financial information or
other reports either required to be delivered with request under any other section hereof and/or requested by Agent in accordance
herewith within a commercially reasonable period of time after delivery thereof is required hereunder or such request is made (as
applicable), or (ii) permit the inspection of its books or records or Collateral or access for appraisals in accordance with the
terms hereof;

 

10.4          Judicial
Actions.

 

Issuance of a notice
of Lien, levy, assessment, injunction or attachment against any Collateral which is not stayed or lifted within thirty (30) days;

 

10.5          Noncompliance.

 

Except as otherwise
provided for in Sections 10.1, 10.3 and 10.5, (i), failure or neglect of Borrower or any Person to perform, keep or observe any
term, provision, condition or covenant herein contained, or contained in any Other Document or any other agreement or arrangement,
now or hereafter entered into between Borrower or any Guarantor or such Person, and Agent or any Lender, or (ii) failure or neglect
of Borrower or any Person to perform, keep or observe any term, provision, condition or covenant contained in Sections 4.7, 4.8,
4.10, 6.1, 6.3, 6.4 or 9.3 which is not cured within ten (10) days from the occurrence of such failure or neglect.

 

10.6          Judgments.

 

Any judgment or judgments,
writ(s), order(s) or decree(s) for the payment of money are rendered against Borrower or any Guarantor and (i) action shall be
legally taken by any judgment creditor to levy upon assets or properties of Borrower or any Guarantor to enforce any such judgment,
or, (ii) there shall be any period of thirty (30) consecutive days during which a stay of enforcement of such judgment, by reason
of a pending appeal or otherwise, shall not be in effect, or (iii) any Liens arising by virtue of the rendition, entry or issuance
of such judgment upon assets or properties of Borrower or any Guarantor shall be senior to any Liens in favor of Agent on such
assets or properties; provided that no such judgment, writ, order or decree shall constitute an Event of Default if Borrower or
such Guarantor, as applicable, are contesting such judgment, writ, order or decree in good faith and established reserves satisfactory
to Agent acting in a commercially reasonable manner;

 

    	 

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10.7          Bankruptcy.

 

Borrower or Guarantor
or any Subsidiary of a Guarantor shall (i) apply for, consent to or suffer the appointment of, or the taking of possession by,
a receiver, custodian, trustee, liquidator or similar fiduciary of itself or of all or a substantial part of its property, (ii)
make a general assignment for the benefit of creditors, (iii) commence a voluntary case under any state or federal bankruptcy laws
(as now or hereafter in effect), (iv) be adjudicated a bankrupt or insolvent (including by entry of any order for relief in any
involuntary bankruptcy or insolvency proceeding commenced against it), (v) file a petition seeking to take advantage of any other
law providing for the relief of debtors, (vi) acquiesce to, or fail to have dismissed, within forty-five (45) days, any petition
filed against it in any involuntary case under such bankruptcy laws, or (vii) take any action for the purpose of effecting any
of the foregoing;

 

10.8          Inability
to Pay.

 

Borrower or Guarantor
or any Subsidiary of a Guarantor shall admit in writing its inability, or be generally unable, to pay its debts as they become
due or cease operations of its present business;

 

10.9          Material
Adverse Effect.

 

The occurrence of any
Material Adverse Effect;

 

10.10          Lien
Priority.

 

Any Lien created hereunder
or under any Other Document or provided for hereby or thereby or under any related agreement for any reason ceases to be or is
not a valid and perfected Lien having a first priority interest, except (i) as otherwise permitted in clauses (h) or (j) of the
definition of Permitted Encumbrances which Liens arising thereby are senior by operation of law, (ii) as otherwise permitted in
clause (k) of the definition of Permitted Encumbrances which Liens arising thereby were perfected prior to the Closing Date, or
(iii) Liens with respect to property taxes or other taxes that have priority as a matter of applicable state law or federal law
but only to the extent that such taxes are either not yet due and payable or are being Properly Contested, or Borrower or any other
Person acting on its behalf shall so claim except as a result of Agent’s or any Lender’s gross negligence;

 

    	 

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10.11          General
Cross Default.

 

Either (x) any specified
“event of default” under any other Indebtedness of Borrower shall occur, in any such case after giving effect to any
applicable notice, grace or cure periods, or (y) a default of the obligations of Borrower under any other agreement to which it
is a party shall occur which causes a Material Adverse Effect which default is not cured within any applicable grace period;

 

10.12          Change
of Control.

 

Any Change of Control
shall occur;

 

10.13          Invalidity.

 

Any material provision
of this Agreement or any Other Document shall, for any reason, cease to be valid and binding on Borrower or any Person, or Borrower
or any Person shall so claim;

 

10.14          Licenses.

 

Any Governmental Body
shall (A) revoke, terminate, suspend or adversely modify any license or permit of Borrower or any Guarantor, the continuation of
which is material to the continuation of Borrower’s business, or (B) commence proceedings to suspend, revoke, terminate or
adversely modify any such license or permit which is material and such proceedings shall not be dismissed or discharged within
thirty (30) days, or (C) schedule or conduct a hearing on the renewal of any license or permit necessary for the continuation of
Borrower’s or any Guarantor’s business and the staff of such Governmental Body issues a report recommending the termination,
revocation, suspension or material, adverse modification of such license or permit; or

 

10.15          Seizures.

 

Any portion of the
Collateral shall be seized or taken by a Governmental Body, or Borrower or, except to the extent set forth on Schedule 5.7, the
title and rights of Borrower shall become the subject of a claim, litigation, suit or other proceeding which could, in the opinion
of Agent, upon final determination, result in impairment or loss of the security provided by this Agreement or the Other Documents.

 

    	 

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ARTICLE
XI

LENDERS’ RIGHTS AND REMEDIES AFTER DEFAULT

 

11.1          Rights
and Remedies.

 

(a)          Upon
the occurrence of (i) an Event of Default pursuant to Section 10.7 or 10.8 all Obligations shall be immediately due and payable
and this Agreement and the obligation of Lenders to make Advances (including the Revolving Credit Commitments) shall be deemed
terminated; and, (ii) any of the other Events of Default and at any time thereafter, at the option of Required Lenders, all Obligations
shall be immediately due and payable and Lenders shall have the right to terminate this Agreement and to terminate the obligation
of Lenders to make Advances (including the Revolving Credit Commitments, provided that, without the consent of the Required Lenders,
the Revolving Credit Lenders acting unanimously may terminate the Revolving Credit Commitments) and (iii) a filing of a petition
against Borrower in any involuntary case under any state or federal bankruptcy laws, all Obligations shall be immediately due and
payable and the obligation of Lenders to make Advances hereunder (including the Revolving Credit Commitments) shall be terminated.
Upon the occurrence of any Event of Default, Agent shall have the right to exercise any and all rights and remedies provided for
herein, under the Other Documents, under the Uniform Commercial Code and at law or equity generally, including the right to foreclose
the security interests granted herein and to realize upon any Collateral by any available judicial procedure and/or to take possession
of and sell any or all of the Collateral with or without judicial process. Agent may enter any of Borrower’s premises or
other premises without legal process and without incurring liability to Borrower therefor, and Agent may thereupon, or at any time
thereafter, in its discretion without notice or demand, take the Collateral and remove the same to such place as Agent may deem
advisable and Agent may require Borrower to make the Collateral available to Agent at a convenient place. With or without having
the Collateral at the time or place of sale, Agent may sell the Collateral, or any part thereof, at public or private sale, at
any time or place, in one or more sales, at such price or prices, and upon such terms, either for cash, credit or future delivery,
as Agent may elect. Except as to that part of the Collateral which is perishable or threatens to decline speedily in value or is
of a type customarily sold on a recognized market, Agent shall give Borrower reasonable notification of such sale or sales, it
being agreed that in all events written notice mailed to Borrower at least ten (10) days prior to such sale or sales is reasonable
notification. At any public sale Agent or any Lender may bid for and become the purchaser, and Agent, any Lender or any other purchaser
at any such sale thereafter shall hold the Collateral sold absolutely free from any claim or right of whatsoever kind, including
any equity of redemption and all such claims, rights and equities are hereby expressly waived and released by Borrower. The cash
proceeds realized from the sale of any Collateral shall be applied to the Obligations in the order set forth in Section 11.5.
Noncash proceeds will only be applied to the Obligations as they are converted into cash. If any deficiency shall arise, Borrower
shall remain liable to Agent and Lenders therefor.

 

(b)          To
the extent that Applicable Law imposes duties on Agent to exercise remedies in a commercially reasonable manner, Borrower acknowledge
and agree that it is not commercially unreasonable for Agent (i) to fail to incur expenses reasonably deemed significant by Agent
to prepare Collateral for disposition, (ii) to fail to obtain third party consents for access to Collateral to be disposed of,
or to obtain or, if not required by other law, to fail to obtain governmental or third party consents for the collection or disposition
of Collateral to be collected or disposed of, (iii) to fail to exercise collection remedies against Obligors or other Persons obligated
on Collateral or to remove Liens on or any adverse claims against Collateral, (iv) to exercise collection remedies against Obligors
and other Persons obligated on Collateral directly or through the use of collection agencies and other collection specialists,
(v) to advertise dispositions of Collateral through publications or media of general circulation, whether or not the Collateral
is of a specialized nature, (vi) to contact other Persons, whether or not in the same business as the Borrower, for expressions
of interest in acquiring all or any portion of such Collateral, (vii) to hire one or more professional auctioneers to assist in
the disposition of Collateral, whether or not the Collateral is of a specialized nature, (viii) to dispose of Collateral by utilizing
internet sites that provide for the auction of assets of the types included in the Collateral or that have the reasonable capacity
of doing so, or that match buyers and sellers of assets, (ix) to disclaim disposition warranties, such as title, possession or
quiet enjoyment, (xi) to dispose of assets in wholesale rather than retail markets, (x) to purchase insurance or credit enhancements
to insure Agent against risks of loss, collection or disposition of Collateral or to provide to Agent a guaranteed return from
the collection or disposition of Collateral, or (xii) to the extent deemed appropriate by Agent, to obtain the services of other
brokers, investment bankers, consultants and other professionals to assist Agent in the collection or disposition of any of the
Collateral. Borrower acknowledge that the purpose of this Section 11.1(b) is to provide non-exhaustive indications of what
actions or omissions by Agent would not be commercially unreasonable in Agent’s exercise of remedies against the Collateral
and that other actions or omissions by Agent shall not be deemed commercially unreasonable solely on account of not being indicated
in this Section 11.1(b). Without limitation upon the foregoing, nothing contained in this Section 11.1(b) shall be construed
to grant any rights to Borrower or to impose any duties on Agent that would not have been granted or imposed by this Agreement
or by Applicable Law in the absence of this Section 11.1(b).

 

    	 

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(c)          Borrower
recognizes that Agent may be unable to effect a public sale of any or all the Pledged Collateral, by reason of certain prohibitions
contained in the Securities Act and applicable state securities laws or otherwise, and may be compelled to resort to one or more
private sales thereof to a restricted group of purchasers which will be obliged to agree, among other things, to acquire such securities
for their own account for investment and not with a view to the distribution or resale thereof. Borrower acknowledges and agrees
that any such private sale may result in prices and other terms less favorable than if such sale were a public sale and, notwithstanding
such circumstances, consents to such private sale. Agent shall be under no obligation to delay a sale of any of the Pledged Collateral
for the period of time necessary to permit the Issuer thereof to register such securities for public sale under the Securities
Act, or under applicable state securities laws, even if such Issuer would agree to do so.

 

(d)          Borrower
agrees to use its best efforts to do or cause to be done all such other acts as may be necessary to make such sale or sales of
all or any portion of the Pledged Collateral pursuant to this Section 11.1 valid and binding and in compliance with any and all
other applicable requirements of law. Borrower further agrees that a breach of any of the covenants contained in this Section 11.1
will cause irreparable injury to Agent and Lenders, that Agent and Lenders have no adequate remedy at law in respect of such breach
and, as a consequence, that each and every covenant contained in this Section 11.1 shall be specifically enforceable against Borrower,
and Borrower hereby waives and agrees not to assert any defenses against an action for specific performance of such covenants except
for a defense that no Event of Default has occurred under this Agreement.

 

11.2          Agent’s
Discretion.

 

Subject to the rights
of Lenders under this Agreement and the Other Documents, Agent shall have the right in its sole discretion to determine which rights,
Liens, security interests or remedies Agent may at any time pursue, relinquish, subordinate, or modify or to take any other action
with respect thereto and such determination will not in any way modify or affect any of Agent’s or Lenders’ rights
hereunder.

 

    	 

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11.3          Setoff.

 

Subject to Section 14.11,
in addition to any other rights which Agent or any Lender may have under Applicable Law, upon the occurrence of an Event of Default
hereunder, Agent and such Lender shall have a right, immediately and without notice of any kind, (i) to apply Borrower’s
property held by Agent and such Lender to reduce the Obligations, and (ii) to exercise any and all rights of setoff which may be
available to Agent and such Lender with respect to Borrower, including without limitation any and all rights of such setoff with
respect to any deposit accounts or other deposits of Borrower held by Agent or such Lender.

 

11.4          Rights
and Remedies not Exclusive.

 

The enumeration of
the foregoing rights and remedies is not intended to be exhaustive and the exercise of any rights or remedy shall not preclude
the exercise of any other right or remedies provided for herein or otherwise provided by law, all of which shall be cumulative
and not alternative.

 

11.5          Allocation
of Payments After Event of Default.

 

Notwithstanding any
other provisions of this Agreement to the contrary, after the occurrence and during the continuance of an Event of Default, all
amounts collected or received by Agent on account of the Obligations (including without limitation any amounts outstanding under
any of the Other Documents) or in respect of the Collateral may, at Agent’s discretion, be paid over or delivered as follows:

 

FIRST, to the payment
of all reasonable out-of-pocket costs and expenses (including reasonable attorneys’ fees) of Agent in connection with enforcing
its rights and the rights of Lenders under this Agreement and the Other Documents and any protective advances made by Agent with
respect to the Collateral under or pursuant to the terms of this Agreement or any Other Document;

 

SECOND, to the payment
of all reasonable out-of-pocket costs and expenses (including reasonable attorneys’ fees) of each Lender to the extent owing
to such Lender pursuant to the terms of this Agreement;

 

THIRD, to the payment
of all of the Obligations consisting of accrued fees and interest with respect to the Revolving Advances;

 

FOURTH, to the payment
of the outstanding principal amount of the Revolving Advances;

 

FIFTH, to the payment
of all of the Obligations consisting of accrued interest on account of the Term Loan;

 

SIXTH, to the payment
of the outstanding principal amount of the Term Loan;

 

    	 

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SEVENTH, to all other
Obligations and other obligations which shall have become due and payable under the Other Documents or otherwise and not repaid
pursuant to clauses “FIRST” through “SIXTH” above; and

 

EIGHTH, to the payment of the surplus, if
any, to whoever may be lawfully entitled to receive such surplus.

 

In carrying out the foregoing, (i) amounts
received shall be applied in the numerical order provided until exhausted prior to application to the next succeeding category;
(ii) each of Lenders shall receive an amount equal to its pro rata share (based on the proportion that the then outstanding Advances
held by such Lender bears to the aggregate then outstanding applicable Advances) of amounts available to be applied pursuant to
clauses “THIRD”, “FOURTH”, FIFTH” and “SIXTH” above (provided that, as among the Revolving
Lenders, each Lender shall receive its share of any such payments based on the respective Ratable Shares of the Revolving Lenders).

 

ARTICLE
XII

WAIVERS AND JUDICIAL PROCEEDINGS

 

12.1          Waiver
of Notice.

 

Borrower hereby waives
notice of non-payment, demand, presentment, protest and notice thereof with respect to any and all instruments, notice of acceptance
hereof, notice of loans or advances made, credit extended, Collateral received or delivered, or any other action taken in reliance
hereon, and all other demands and notices of any description, except such as are expressly provided for herein.

 

12.2          Delay.

 

No delay or omission
on Agent’s or any Lender’s part in exercising any right, remedy or option shall operate as a waiver of such or any
other right, remedy or option or of any Default or Event of Default.

 

12.3          Jury
Waiver.

 

EACH PARTY TO THIS
AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (A) ARISING UNDER
THIS AGREEMENT OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH, OR (B) IN ANY WAY CONNECTED
WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS AGREEMENT OR ANY OTHER
INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH, OR THE TRANSACTIONS RELATED HERETO OR THERETO IN
EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE AND EACH PARTY HEREBY
CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY
TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENTS
OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.

 

    	 

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ARTICLE
XIII

EFFECTIVE DATE AND TERMINATION

 

13.1          Term.

 

This Agreement, which
shall inure to the benefit of and shall be binding upon the respective successors and permitted assigns of Borrower, Agent and
each Lender, shall become effective on the date hereof and shall continue in full force and effect until October 31, 2012 (the
“Term”) unless sooner terminated as herein provided. Borrower may terminate this Agreement at any time upon
ten (10) days’ prior written notice upon payment in full of the Obligations.

 

13.2          Termination.

 

The termination of
the Agreement shall not affect Agent’s or any Lender’s rights, or any of the Obligations having their inception prior
to the effective date of such termination or any Obligations which pursuant to the terms hereof continue to accrue hereafter, and
the provisions hereof shall continue to be fully operative until all transactions entered into, rights or interests created or
Obligations (other than contingent indemnity claims not yet asserted or threatened) have been fully and indefeasibly paid, disposed
of, concluded or liquidated. The security interests, Liens and rights granted to Agent and Lenders hereunder and the financing
statements filed hereunder shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact
that Borrower’s Account may from time to time be temporarily in a zero or credit position, until all of the Obligations of
Borrower have been indefeasibly paid and performed in full after the termination of this Agreement or Borrower have furnished Agent
and Lenders with an indemnification satisfactory to Agent and Lenders with respect thereto. Accordingly, Borrower waives any rights
which it may have under the Uniform Commercial Code to demand the filing of termination statements with respect to the Collateral,
and Agent shall not be required to send such termination statements to Borrower, or to file them with any filing office, unless
and until this Agreement shall have been terminated in accordance with its terms and all Obligations have been indefeasibly paid
in full in immediately available funds. All representations, warranties, covenants, waivers and agreements contained herein shall
survive termination hereof until all Obligations are indefeasibly paid and performed in full.

 

ARTICLE
XIV

REGARDING AGENT

 

14.1          Appointment.

 

Each Lender hereby
designates PPVA to act as Agent for such Lender under this Agreement and the Other Documents. Each Lender hereby irrevocably authorizes
Agent to take such action on its behalf under the provisions of this Agreement and the Other Documents and to exercise such powers
and to perform such duties hereunder and thereunder as are specifically delegated to or required of Agent by the terms hereof and
thereof and such other powers as are reasonably incidental thereto and Agent shall hold all Collateral, payments of principal and
interest, fees, charges and collections received pursuant to this Agreement, for the ratable benefit of Lenders. Agent may perform
any of its duties hereunder by or through its agents or employees. As to any matters not expressly provided for by this Agreement
Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting
(and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions
shall be binding; provided, however, that Agent shall not be required to take any action which exposes Agent to liability or which
is contrary to this Agreement or the Other Documents or Applicable Law unless Agent is furnished with an indemnification reasonably
satisfactory to Agent with respect thereto.

 

    	 

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14.2          Nature
of Duties.

 

Agent shall have no
duties or responsibilities except those expressly set forth in this Agreement and the Other Documents. Neither Agent nor any of
its officers, directors, employees or agents shall be (i) liable for any action taken or omitted by them as such hereunder or in
connection herewith, unless caused by their gross (not mere) negligence or willful misconduct (as determined by a court of competent
jurisdiction in a final non-appealable judgment), or (ii) responsible in any manner for any recitals, statements, representations
or warranties made by Borrower or any officer thereof contained in this Agreement, or in any of the Other Documents or in any certificate,
report, statement or other document referred to or provided for in, or received by Agent under or in connection with, this Agreement
or any of the Other Documents or for the value, validity, effectiveness, genuineness, due execution, enforceability or sufficiency
of this Agreement, or any of the Other Documents or for any failure of Borrower to perform its obligations hereunder. Agent shall
not be under any obligation to any Lender to ascertain or to inquire as to the observance or performance of any of the agreements
contained in, or conditions of, this Agreement or any of the Other Documents, or to inspect the properties, books or records of
Borrower. The duties of Agent as respects the Advances to Borrower shall be mechanical and administrative in nature; Agent shall
not have by reason of this Agreement a fiduciary relationship in respect of any Lender; and nothing in this Agreement, expressed
or implied, is intended to or shall be so construed as to impose upon Agent any obligations in respect of this Agreement except
as expressly set forth herein.

 

14.3          Lack
of Reliance on Agent and Resignation.

 

Independently and without
reliance upon Agent or any other Lender, each Lender has made and shall continue to make (i) its own independent investigation
of the financial condition and affairs of Borrower in connection with the making and the continuance of the Advances hereunder
and the taking or not taking of any action in connection herewith, and (ii) its own appraisal of the creditworthiness of Borrower.
Agent shall have no duty or responsibility, either initially or on a continuing basis, to provide any Lender with any credit or
other information with respect thereto, whether coming into its possession before making of the Advances or at any time or times
thereafter except as shall be provided by Borrower pursuant to the terms hereof. Agent shall not be responsible to any Lender for
any recitals, statements, information, representations or warranties herein or in any agreement, document, certificate or a statement
delivered in connection with or for the execution, effectiveness, genuineness, validity, enforceability, collectability or sufficiency
of this Agreement or any Other Document, or of the financial condition of Borrower, or be required to make any inquiry concerning
either the performance or observance of any of the terms, provisions or conditions of this Agreement, the Other Documents or the
financial condition of Borrower, or the existence of any Event of Default or any Default.

 

    	 

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Agent may resign on
sixty (60) days’ written notice to each of Lenders and Borrower and upon such resignation, the Required Lenders will promptly
designate a successor Agent reasonably satisfactory to Borrower (provided that no such approval by Borrower shall be required (i)
in any case where the successor Agent is one of Lenders or (ii) after the occurrence and during the continuance of any Event of
Default). Any such successor Agent shall succeed to the rights, powers and duties of Agent, and shall in particular succeed to
all of Agent’s right, title and interest in and to all of the Liens in the Collateral securing the Obligations created hereunder
or any Other Document (including the Security Agreement), and the term “Agent” shall mean such successor agent effective
upon its appointment, and the former Agent’s rights, powers and duties as Agent shall be terminated, without any other or
further act or deed on the part of such former Agent. However, notwithstanding the foregoing, if at the time of the effectiveness
of the new Agent’s appointment, any further actions need to be taken in order to provide for the legally binding and valid
transfer of any Liens in the Collateral from former Agent to new Agent and/or for the perfection of any Liens in the Collateral
as held by new Agent or it is otherwise not then possible for new Agent to become the holder of a fully valid, enforceable and
perfected Lien as to any of the Collateral, former Agent shall continue to hold such Liens solely as agent for perfection of such
Liens on behalf of new Agent until such time as new Agent can obtain a fully valid, enforceable and perfected Lien on all Collateral,
provided that Agent shall not be required to or have any liability or responsibility to take any further actions after such date
as such agent for perfection to continue the perfection of any such Liens (other than to forego from taking any affirmative action
to release any such Liens). After any Agent’s resignation as Agent, the provisions of this ARTICLE XIV shall inure to its
benefit as to any actions taken or omitted to be taken by it while it was Agent under this Agreement (and in the event resigning
Agent continues to hold any Liens pursuant to the provisions of the immediately preceding sentence, the provisions of this ARTICLE
XIV shall inure to its benefit a to any actions taken or omitted to be taken by it in connection with such Liens).

 

14.4          Certain
Rights of Agent.

 

If Agent shall request
instructions from Lenders with respect to any act or action (including failure to act) in connection with this Agreement or any
Other Document, Agent shall be entitled to refrain from such act or taking such action unless and until Agent shall have received
instructions from the Required Lenders; and Agent shall not incur liability to any Person by reason of so refraining. Without limiting
the foregoing, Lenders shall not have any right of action whatsoever against Agent as a result of its acting or refraining from
acting hereunder in accordance with the instructions of the Required Lenders.

 

14.5          Reliance.

 

Agent shall be entitled
to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, statement, certificate, telex, teletype
or telecopier message, cablegram, order or other document or telephone message reasonably believed by it to be genuine and correct
and to have been signed, sent or made by the proper person or entity, and, with respect to all legal matters pertaining to this
Agreement and the Other Documents and its duties hereunder, upon advice of counsel selected by it. Agent may employ agents and
attorneys-in-fact and shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by Agent
with reasonable care.

 

    	 

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14.6          Notice
of Default.

 

Agent shall not be
deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder or under the Other Documents,
unless Agent has received notice from a Lender or Borrower referring to this Agreement or the Other Documents, describing such
Default or Event of Default and stating that such notice is a “notice of default”. In the event that Agent receives
such a notice, Agent shall give notice thereof to Lenders. Agent shall take such action with respect to such Default or Event of
Default as shall be reasonably directed by the Required Lenders; provided, that, unless and until Agent shall have received such
directions, Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such
Default or Event of Default as it shall deem advisable in the best interests of Lenders.

 

14.7          Indemnification.

 

To the extent Agent
is not reimbursed and indemnified by Borrower, each Lender will reimburse and indemnify Agent (in proportion to its respective
portion of the sum of (A) the aggregate unpaid principal amount of the Term Loan then outstanding plus (B) the Maximum Revolving
Advance Amount then in effect or, if the Revolving Credit Commitments have been terminated, the total aggregate outstanding principal
balance of all Revolving Advances at such time plus the total aggregate participations of all Revolving Credit Lenders in
the outstanding Letters of Credit at such time), from and against any and all liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever which may be imposed on, incurred
by or asserted against Agent in performing its duties hereunder, or in any way relating to or arising out of this Agreement or
any Other Document; provided that, Lenders shall not be liable for any portion of such liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses or disbursements resulting from Agent’s gross (not mere) negligence
or willful misconduct (as determined by a court of competent jurisdiction in a final non-appealable judgment).

 

14.8          Agent
in its Individual Capacity.

 

With respect to the
obligation of Agent to lend under this Agreement, the Advances made by it shall have the same rights and powers hereunder as any
other Lender and as if it were not performing the duties as Agent specified herein; and the term “Lender” or any similar
term shall, unless the context clearly otherwise indicates, include Agent in its individual capacity as a Lender. Agent may engage
in business with Borrower as if it were not performing the duties specified herein, and may accept fees and other consideration
from Borrower for services in connection with this Agreement or otherwise without having to account for the same to Lenders.

 

    	 

    	 	61

    
 

14.9          Borrower’s
Undertaking to Agent.

 

Without prejudice to
their respective obligations to Lenders under the other provisions of this Agreement, Borrower hereby undertakes with Agent to
pay to Agent from time to time on demand all amounts from time to time due and payable by it for the account of Agent or Lenders
or any of them pursuant to this Agreement to the extent not already paid. Any payment made pursuant to any such demand shall pro
tanto satisfy the Borrower’s obligations to make payments for the account of Lenders or the relevant one or more of them
pursuant to this Agreement.

 

14.10          No
Reliance on Agent’s Obligor Identification Program.

 

Each Lender acknowledges
and agrees that neither such Lender, nor any of its Affiliates, participants or assignees, may rely on Agent to carry out such
Lender’s, Affiliate’s, participant’s or assignee’s customer identification program, or other obligations
required or imposed under or pursuant to the USA PATRIOT Act or the regulations thereunder, including the regulations contained
in 31 CFR 103.121 (as hereafter amended or replaced, the “CIP Regulations”), or any other Anti-Terrorism Law,
including any programs involving any of the following items relating to or in connection with Borrower, their Affiliates or their
agents, this Agreement, the Other Documents or the transactions hereunder or contemplated hereby: (1) any identity verification
procedures, (2) any record-keeping, (3) comparisons with government lists, (4) customer notices or (5) other procedures required
under the CIP Regulations or such other laws.

 

14.11          Other
Agreements.

 

Each of Lenders agrees
that it shall not, without the express consent of Agent, and that it shall, to the extent it is lawfully entitled to do so, upon
the request of Agent, set off against the Obligations, any amounts owing by such Lender to Borrower or any deposit accounts of
Borrower now or hereafter maintained with such Lender. Anything in this Agreement to the contrary notwithstanding, each of Lenders
further agrees that it shall not, unless specifically requested to do so by Agent, take any action to protect or enforce its rights
arising out of this Agreement or the Other Documents, it being the intent of Lenders that any such action to protect or enforce
rights under this Agreement and the Other Documents shall be taken in concert and at the direction or with the consent of Agent
or Required Lenders.

 

ARTICLE
XV

MISCELLANEOUS

 

15.1          Governing
Law.

 

This Agreement shall
be governed by and construed in accordance with the laws of the State of New York applied to contracts to be performed wholly within
the State of New York. Any judicial proceeding brought by or against Borrower, any Lender or Agent with respect to any of the Obligations,
this Agreement, the Other Documents or any related agreement may be brought in any court of competent jurisdiction in the State
of New York, United States of America, and, by execution and delivery of this Agreement, Borrower, each Lender and Agent accepts
for itself and in connection with its properties, generally and unconditionally, the non-exclusive jurisdiction of the aforesaid
courts, and irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement. Borrower, each Lender
and Agent hereby waives personal service of any and all process upon it and consents that all such service of process may be made
by registered mail (return receipt requested) directed to Borrower, such Lender or such Agent at its address set forth in Section 15.6
and service so made shall be deemed completed five (5) days after the same shall have been so deposited in the mails of the United
States of America, or, at Agent’s option, by service upon Borrower which Borrower irrevocably appoints as Borrower’s
Agent for the purpose of accepting service within the State of New York. Nothing herein shall affect the right to serve process
in any manner permitted by law or shall limit the right of Agent or any Lender to bring proceedings against Borrower in the courts
of any other jurisdiction. Borrower, each Lender and Agent waives any objection to jurisdiction and venue of any action instituted
hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. Borrower
waives the right to remove any judicial proceeding brought against Borrower in any state court to any federal court unless the
nature of the claim requires that it be brought in federal court.

 

    	 

    	 	62

    
 

15.2          Entire
Understanding.

 

(a)          This
Agreement and each Other Document (unless and except to the extent expressly provided otherwise in any Other Document), and all
matters relating hereto or thereto or arising herefrom or therefrom (whether arising under contract, law, tort law or otherwise)
and the documents executed concurrently herewith contain the entire understanding among Borrower, Agent and each Lender and supersedes
all prior agreements and understandings, if any, relating to the subject matter hereof. Any promises, representations, warranties
or guarantees not herein contained and hereinafter made shall have no force and effect unless in writing, signed by Borrower’s,
Agent’s and each Lender’s respective officers. Neither this Agreement nor any portion or provisions hereof may be changed,
modified, amended, waived, supplemented, discharged, cancelled or terminated orally or by any course of dealing, or in any manner
other than by an agreement in writing, signed by the party to be charged. Borrower acknowledges that it has been advised by counsel
in connection with the execution of this Agreement and Other Documents and is not relying upon oral representations or statements
inconsistent with the terms and provisions of this Agreement.

 

(b)          The
Required Lenders, Agent and Borrower may, subject to the provisions of this Section 15.2(b), from time to time enter into
written supplemental agreements to this Agreement or the Other Documents executed by Borrower, for the purpose of adding or deleting
any provisions or otherwise changing, varying or waiving in any manner the rights of Lenders, Agent or Borrower thereunder or the
conditions, provisions or terms thereof or waiving any Event of Default thereunder, but only to the extent specified in such written
agreements; provided, however, that no such supplemental agreement shall:

 

(i)          increase
any Commitment Percentage or the maximum dollar amount of any commitment of any Lender (including any amendment that will have
the effect of increasing the Revolving Credit Commitment Amount of any Lender) or the Maximum Revolving Advance Amount without
the consent of all Lenders;

 

(ii)          extend
the Term or the maturity of any Advances or the due date for any amount payable hereunder, or decrease the rate of interest or
reduce any fee payable by Borrower to Lenders pursuant to this Agreement without the consent of each Lender directly affected thereby
other than any waiver of the application of the Default Rate hereunder;

 

    	 

    	 	63

    
 

(iii)          alter,
amend or modify the definition of the term Required Lenders, Section 2.9(a), Section 2.9(b), any provision regarding the pro rata
treatment of or sharing of payments by Lenders or requiring all Lenders to authorize the taking of any action or this Section 15.2(b)
without the consent of all Lenders;

 

(iv)          release
all or substantially all of the Collateral without the consent of all Lenders;

 

(v)          change
the rights and duties of Agent without the consent of Agent;

 

(vi)          release
any Guarantor without the consent of all Lenders;

 

(vii)          subordinate
the priority of the Liens in the Collateral in favor of Agent, for the benefit of Agent and each Lender, to any Liens therein held
by any other Person without the consent of all Lenders; or

 

(viii)          alter
the priority of allocation of payments and proceeds of Collateral provided for in Section 11.5 without the consent of Agent and
all Lenders.

 

Any such supplemental
agreement shall apply equally to each Lender and shall be binding upon Borrower, Lenders and Agent and all future holders of the
Obligations. In the case of any waiver, Borrower, Agent and Lenders shall be restored to their former positions and rights, and
any Event of Default waived shall be deemed to be cured and not continuing, but no waiver of a specific Event of Default shall
extend to any subsequent Event of Default (whether or not the subsequent Event of Default is the same as the Event of Default which
was waived), or impair any right consequent thereon.

 

15.3          Successors
and Assigns; Participations; New Lenders.

 

(a)          This
Agreement shall be binding upon and inure to the benefit of Borrower, Agent, each Lender, all future holders of the Obligations
and their respective successors and assigns, except that Borrower may not assign or transfer any of their rights or obligations
under this Agreement without the prior written consent of Agent and each Lender.

 

(b)          Borrower
acknowledge that one or more Lenders may at any time and from time to time sell participating interests in its Revolving Credit
Commitment Percentage and its interest in the Revolving Advances and/or its interest in the Term Loan (without the consent of Agent,
the Borrower or any other Lender) to other financial institutions (each such transferee or purchaser of a participating interest,
a “Participant”); provided that no Lender may grant any such Participant any rights to consent with respect
to any amendments, supplement, modification or waiver with respect to this Agreement or any Other Documents except that such Participant
may be granted consent rights with respect to any amendments, supplement, modification or waiver requiring the consent of such
Lender or of all Lenders under Section 15.2(b)(i), (ii) or (iv). Each Participant may exercise all rights of payment (including
rights of set-off) with respect to the portion of such Advances held by it or other Obligations payable hereunder as fully as if
such Participant were the direct holder thereof provided that Borrower shall not be required to pay to any Participant more than
the amount which it would have been required to pay to Lender which granted an interest in its Advances or other Obligations payable
hereunder to such Participant had such Lender retained such interest in the Advances hereunder or other Obligations payable hereunder
and in no event shall Borrower be required to pay any such amount arising from the same circumstances and with respect to the same
Advances or other Obligations payable hereunder to both such Lender and such Participant. Borrower hereby grant to any Participant
a continuing security interest in any deposits, moneys or other property actually or constructively held by such Participant as
security for the Participant’s interest in the Advances.

 

    	 

    	 	64

    
 

(c)          Any
Lender, with the consent of Agent (and, with respect to Revolving Credit Lenders, so long as no Event of Default has occurred and
is continuing, Borrower, such consent not to be unreasonably withheld or delayed) which shall not be unreasonably withheld or delayed,
may sell, assign or transfer all or any part of its rights and obligations under or relating to its Revolving Credit Commitment
Percentage and its interest in the Revolving Advances and/or its interest in the Term Loan under this Agreement and the Other Documents
to one or more additional banks or financial institutions and one or more additional banks or financial institutions may commit
to make Advances hereunder (each a “Purchasing Lender” and together with each Participant, each a “Transferee”
and collectively, the “Transferees”), in minimum amounts of not less than $1,000,000, pursuant to a Commitment
Transfer Supplement, executed by a Purchasing Lender, the transferor Lender, and Agent and delivered to Agent for recording. Upon
such execution, delivery, acceptance and recording, from and after the transfer effective date determined pursuant to such Commitment
Transfer Supplement, (i) Purchasing Lender thereunder shall be a party hereto and, to the extent provided in such Commitment Transfer
Supplement, have the rights and obligations of a Revolving Credit Lender or Term Loan Lender (as applicable) thereunder with the
applicable Commitment Percentage(s) as set forth therein, and (ii) the transferor Lender thereunder shall, to the extent provided
in such Commitment Transfer Supplement, be released from its obligations under this Agreement, the Commitment Transfer Supplement
creating a novation for that purpose. Such Commitment Transfer Supplement shall be deemed to amend this Agreement to the extent,
and only to the extent, necessary to reflect the addition of such Purchasing Lender and the resulting adjustment of the applicable
Commitment Percentages arising from the purchase by such Purchasing Lender of all or a portion of the rights and obligations of
such transferor Lender under this Agreement and the Other Documents. Borrower hereby consents to the addition of such Purchasing
Lender and the resulting adjustment of the applicable Commitment Percentages arising from the purchase by such Purchasing Lender
of all or a portion of the rights and obligations of such transferor Lender under this Agreement and the Other Documents. Borrower
shall execute and deliver such further documents and do such further acts and things in order to effectuate the foregoing.

 

(d)          Agent
shall maintain at its address a copy of each Commitment Transfer Supplement delivered to it and a register (the “Register”)
for the recordation of the names and addresses of each Lender and the outstanding principal, accrued and unpaid interest and other
fees due hereunder. The entries in the Register shall be conclusive, in the absence of manifest error, and Borrower, Agent and
Lenders may treat each Person whose name is recorded in the Register as the owner of the applicable Advances recorded therein for
the purposes of this Agreement. The Register shall be available for inspection by Borrower or any Lender at any reasonable time
and from time to time upon reasonable prior notice. Agent shall receive a fee in the amount of $3,500 payable by the applicable
Purchasing Lender upon the effective date of each transfer or assignment (other than to an intermediate purchaser) to such Purchasing
Lender.

 

    	 

    	 	65

    
 

(e)          Borrower
authorize each Lender to disclose to any Transferee and any prospective Transferee any and all financial information in such Lender’s
possession concerning Borrower which has been delivered to such Lender by or on behalf of Borrower pursuant to this Agreement or
in connection with such Lender’s credit evaluation of Borrower.

 

15.4          Application
of Payments.

 

Agent shall have the
continuing and exclusive right to apply or reverse and re-apply any payment and any and all proceeds of Collateral to any portion
of the Obligations. To the extent that Borrower makes a payment or Agent or any Lender receives any payment or proceeds of the
Collateral for Borrower’s benefit, which are subsequently invalidated, declared to be fraudulent or preferential, set aside
or required to be repaid to a trustee, debtor in possession, receiver, custodian or any other party under any bankruptcy law, common
law or equitable cause, then, to such extent, the Obligations or part thereof intended to be satisfied shall be revived and continue
as if such payment or proceeds had not been received by Agent or such Lender.

 

15.5          Indemnity.

 

Borrower shall indemnify
Agent, each Lender and each of their respective officers, directors, Affiliates, attorneys, employees and agents from and against
any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses and disbursements
of any kind or nature whatsoever (including fees and disbursements of counsel) which may be imposed on, incurred by, or asserted
against Agent or any Lender in any claim, litigation, proceeding or investigation instituted or conducted by any Governmental Body
or instrumentality or any other Person with respect to any aspect of, or any transaction contemplated by, or referred to in, or
any matter related to, this Agreement or the Other Documents, whether or not Agent or any Lender is a party thereto, except to
the extent that any of the foregoing arises out of the gross negligence or willful misconduct of Agent or any Lender (as determined
by a court of competent jurisdiction in a final and non-appealable judgment). Without limiting the generality of the foregoing,
this indemnity shall extend to any liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses
and disbursements of any kind or nature whatsoever (including fees and disbursements of counsel) asserted against or incurred by
any of the indemnitees described above in this Section 15.5 by any Person under any Environmental Laws or similar laws by
reason of Borrower’s or any other Person’s failure to comply with laws applicable to solid or hazardous waste materials,
including Hazardous Substances and Hazardous Waste, or other Toxic Substances. Additionally, if any Taxes (other than Excluded
Taxes but including any Other Taxes) shall be payable by Agent, Lenders or Borrower on account of the execution or delivery of
this Agreement, or the execution, delivery, issuance or recording of any of the Other Documents, or the creation or repayment of
any of the Obligations hereunder, by reason of any Applicable Law now or hereafter in effect, Borrower will pay (or will promptly
reimburse Agent and Lenders for payment of) all such Taxes, including interest and penalties thereon, and will indemnify and hold
the indemnitees described above in this Section 15.5 harmless from and against all liability in connection therewith.

 

    	 

    	 	66

    
 

15.6          Notice.

 

Any notice or request
hereunder may be given to Borrower or to Agent or any Lender at their respective addresses set forth below or at such other address
as may hereafter be specified in a notice designated as a notice of change of address under this Section 15.6. Any notice, request,
demand, direction or other communication (for purposes of this Section 15.6 only, a “Notice”) to be given
to or made upon any party hereto under any provision of this Agreement shall be given or made by telephone or in writing (which
includes by means of electronic transmission (i.e., “e-mail”) or facsimile transmission or by setting forth such Notice
on a site on the World Wide Web (a “Website Posting”) if Notice of such Website Posting (including the information
necessary to access such site) has previously been delivered to the applicable parties hereto by another means set forth in this
Section 15.6) in accordance with this Section 15.6. Any such Notice must be delivered to the applicable parties hereto at
the addresses and numbers set forth under their respective names on Section 15.6 or in accordance with any subsequent unrevoked
Notice from any such party that is given in accordance with this Section 15.6. Any Notice shall be effective:

 

(a)          In
the case of hand-delivery, when delivered;

 

(b)          If
given by mail, four (4) days after such Notice is deposited with the United States Postal Service, with first-class postage prepaid,
return receipt requested;

 

(c)          In
the case of a telephonic Notice, when a party is contacted by telephone, if delivery of such telephonic Notice is confirmed no
later than the next Business Day by hand delivery, a facsimile or electronic transmission, a Website Posting (with respect to Agent
and Lenders only) or an overnight courier delivery of a confirmatory Notice (received at or before noon on such next Business Day);

 

(d)          In
the case of a facsimile transmission, when sent to the applicable party’s facsimile machine’s telephone number, if
the party sending such Notice receives confirmation of the delivery thereof from its own facsimile machine;

 

(e)          In
the case of electronic transmission, when actually received;

 

(f)          In
the case of a Website Posting, upon delivery of a Notice of such posting (including the information necessary to access such site)
by another means set forth in this Section 15.6; and

 

(g)          If
given by any other means (including by overnight courier), when actually received.

 

    	 

    	 	67

    
 

Any Lender giving a Notice to Borrower shall
concurrently send a copy thereof to Agent, and Agent shall promptly notify the other Lenders of its receipt of such Notice.

 

	If to Agent:	
        Platinum Partners Value Arbitrage Fund,
        L.P.

        152 West 57th Street, 4th Floor

        New York NY 10019

        Attention: Mark Nordlicht

        Telephone: (212) 582-2222

        Facsimile: (212) 582-2424

        E-mail:

         

	with a copy to:	
        Blank Rome LLP

        The Chrysler Building

        405 Lexington Avenue

        New York, NY 10174

        Attention:     Eliezer
        M. Helfgott

        Telephone:    (212)
        885-5431

        Facsimile:      (212)
        885-5001

        E-mail:           ehelfgott@blankrome.com

         

	If to a Lender other than Agent:	
         

        as specified on the signature pages
        hereof

         

	If to Borrower:	
        Absolute Life Solutions, Inc.

        45 Broadway, 6th Floor

        New York, New York 10006

        Attention: Avrohom Oratz

        Telephone:     (212)
        201-4070

        Facsimile:       (212) 201-4071

        E-mail: aoratz@absolutels.com

         

	 	 
	with a copy to:	
        Krieger & Prager LLP

        39 Broadway, Suite 920

        New York, New York 10006

        Attention:          Samuel
        M. Krieger

        Telephone:        (212)
        363-2900

        Facsimile:          (212)
        363-2999

        E-mail:                 skrieger@kplawfirm.com

         

15.7          Survival.

 

The obligations of
Borrower under Sections 3.4, 3.5 4.18(g), 15.5 and 15.9 and the obligations of Lenders under Sections 2.2, 2.8(c) and 14.7,
shall survive termination of this Agreement and the Other Documents and payment in full of the Obligations.

 

15.8          Severability.

 

If any part of this
Agreement is contrary to, prohibited by, or deemed invalid under Applicable Laws or regulations, such provision shall be inapplicable
and deemed omitted to the extent so contrary, prohibited or invalid, but the remainder hereof shall not be invalidated thereby
and shall be given effect so far as possible.

 

    	 

    	 	68

    
 

15.9          Expenses.

 

All costs and expenses
including reasonable attorneys’ fees (including the allocated costs of in house counsel) and disbursements incurred by Agent
on its behalf or on behalf of Lenders and each other holder of the Obligations (a) in all efforts made to enforce payment of any
Obligation or effect collection of any Collateral, or (b) in connection with the preparation, negotiation, execution, delivery,
entering into syndication, modification, amendment, administration and enforcement of this Agreement and the Other Documents or
any consents or waivers hereunder or thereunder and all related agreements, documents and instruments, or (c) in instituting, maintaining,
preserving, enforcing and foreclosing on Agent’s security interest in or Lien on any of the Collateral, or maintaining, preserving
or enforcing any of Agent’s or any Lender’s rights hereunder or under the Other Documents and under all related agreements,
documents and instruments whether through judicial proceedings or otherwise, or (d) in defending or prosecuting any actions or
proceedings arising out of or relating to Agent’s or any Lender’s transactions with Borrower, or (e) in connection
with any advice given to Agent with respect to its rights and obligations under this Agreement or the Other Documents and all related
agreements, may be charged to Borrower’s Account and shall be part of the Obligations.

 

15.10          Injunctive
Relief.

 

Borrower recognize
that, in the event Borrower fails to perform, observe or discharge any of its obligations or liabilities under this Agreement,
or threatens to fail to perform, observe or discharge such obligations or liabilities, any remedy at law may prove to be inadequate
relief to Lenders; therefore, Agent, if Agent so requests, shall be entitled to temporary and permanent injunctive relief in any
such case without the necessity of proving that actual damages are not an adequate remedy.

 

15.11          Damages.

 

Neither Agent nor any
Lender, nor any agent or attorney for any of them, shall be liable to Borrower (or any Affiliate of any such Person) for indirect,
punitive, exemplary or consequential damages arising from any breach of contract, tort or other wrong relating to the establishment,
administration or collection of the Obligations or as a result of any transaction contemplated under this Agreement or any other
Document.

 

15.12          Captions.

 

The captions at various
places in this Agreement are intended for convenience only and do not constitute and shall not be interpreted as part of this Agreement.

 

15.13          Counterparts;
Facsimile Signatures.

 

This Agreement may
be executed in any number of and by different parties hereto on separate counterparts, all of which, when so executed, shall be
deemed an original, but all such counterparts shall constitute one and the same agreement. Any signature delivered by a party by
facsimile transmission or by electronic transmission (including email transmission of a PDF copy) shall be deemed to be an original
signature hereto.

 

    	 

    	 	69

    
 

15.14          Construction.

 

The parties acknowledge that each party
and its counsel have reviewed this Agreement and that the normal rule of construction to the effect that any ambiguities are to
be resolved against the drafting party shall not be employed in the interpretation of this Agreement or any amendments, schedules
or exhibits thereto.

 

15.15          Certifications
From Banks and Participants; USA PATRIOT Act.

 

Each Lender or assignee
or participant of a Lender that is not incorporated under the Laws of the United States of America or a state thereof (and is not
excepted from the certification requirement contained in Section 313 of the USA PATRIOT Act and the applicable regulations
because it is both (i) an affiliate of a depository institution or foreign bank that maintains a physical presence in the United
States or foreign country, and (ii) subject to supervision by a banking authority regulating such affiliated depository institution
or foreign bank) shall deliver to Agent the certification, or, if applicable, recertification, certifying that such Lender is not
a “shell” and certifying to other matters as required by Section 313 of the USA PATRIOT Act and the applicable
regulations: (1) within ten (10) days after the Closing Date, and (2) as such other times as are required under the USA PATRIOT
Act.

 

[Remainder of page intentionally
left blank]

 

    	 

    	 	 

    
 

Each of the parties has signed this Agreement
as of the day and year first above written.

 

	 	ABSOLUTE LIFE SOLUTIONS, INC.	 
	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

  

(Signatures continue on next page) 

 

    	S-1
[Signature
                                                                                                                                                                      Page
                                                                                                                                                                      to
                                                                                                                                                                      Revolving
                                                                                                                                                                      Credit,
                                                                                                                                                                      Term
                                                                                                                                                                      Loan
                                                                                                                                                                      and
                                                                                                                                                                      Security
                                                                                                                                                                      Agreement]

    	 	 

    
  

	 	PLATINUM PARTNERS VALUE ARBITRAGE FUND, L.P., as a Revolving Credit Lender, a Term	 
	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

  

	 	
        Revolving Credit Commitment Percentage:

         
	100%
	 	
        Revolving Credit Commitment Amount:

         
	$10,000,000
	 	
        Term Loan Commitment Percentage:

         
	__%

  

(Signatures continue on next page)

 

    	S-2
[Signature
                                                                                                                                                                      Page
                                                                                                                                                                      to
                                                                                                                                                                      Revolving
                                                                                                                                                                      Credit,
                                                                                                                                                                      Term
                                                                                                                                                                      Loan
                                                                                                                                                                      and
                                                                                                                                                                      Security
                                                                                                                                                                      Agreement]

    	 	 

    
 

	 	[OTHER TERM LENDERS], as a Term Loan Lender	 
	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

 

	 	
        Revolving Credit Commitment Percentage:

         
	0%
	 	
        Revolving Credit Commitment Amount:

         
	$0
	 	
        Term Loan Commitment Percentage:

         
	___%

 

    	S-3
[Signature
                                                                                                                                                                      Page
                                                                                                                                                                      to
                                                                                                                                                                      Revolving
                                                                                                                                                                      Credit,
                                                                                                                                                                      Term
                                                                                                                                                                      Loan
                                                                                                                                                                      and
                                                                                                                                                                      Security
                                                                                                                                                                      Agreement]

    	 	 

    
 

Schedule 1.2(c)

 

Policy File

 

Purchase and Sale Agreement

 

Assignment to Borrower

 

Change of Ownership

 

Change of Beneficiary

 

Verification of Coverage

 

In-force Policy Illustration

 

Copy of Insured’s Driver License or Government Photo ID

 

Life Expectancy Reports

 

Spousal Consent(s) (if Insured is married)

 

Irrevocable Limited Power of Attorney

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