Document:

Exhibit 10.14

 

AMENDMENT NO. 1 

 

TO 

 

SECURITIES PURCHASE AGREEMENT

 

This
AMENDMENT No. 1 to Securities Purchase Agreement (this “Amendment”), dated as of June 30, 2022 (the
 “Amendment Effective Date”) is entered into by and between CorpHousing Group Inc., a Delaware corporation (the
 “Company”) and Greenle Partners LLC Series Alpha P.S. (the “Purchaser”) to amend the Securities
Purchase Agreement originally entered into between the Company and Evergreen Capital Partners LLC (“Evergreen”) on
May 27, 2022 (the “Agreement”). All capitalized terms herein shall have the definitions assigned to such terms
in the Agreement.

 

WHEREAS,
by a Purchase and Assignment Agreement entered into by Evergreen and the Purchaser on June 10, 2022, Evergreen has assigned to the
Purchaser all of its rights, title and interest in and to the Agreement and to the securities of the Company issued pursuant to the Agreement;
and

 

WHEREAS,
the Purchaser and the Company desire to amend certain of the covenants and agreements of the parties under the Agreement and to amend
the form of the Notes issued pursuant to the Agreement on the terms and conditions set forth in this Amendment, and simultaneously with
such amendments to exchange the outstanding Note for a new Note in the same principal amount in the form and having the terms set forth
in Exhibit A to this Amendment.

 

NOW,
THEREFORE, in consideration of the mutual promises and covenants contained herein the receipt and sufficiency of which are hereby
acknowledged, the Parties hereby agree as follows.

 

1.              Amendment
to Section 4.18. The last sentence of Section 4.18 of the Agreement shall be amended and restated in its entirety as follows:

 

“Notwithstanding
anything to the contrary contained in this Agreement, in addition to the Notes, the convertible notes issued or to be issued under the
Securities Purchase Agreement dated as of June 30, 2022 between the Company and the Purchasers and the Indebtedness disclosed in
the Registration Statement, the Company shall be entitled to have outstanding at any time up to $1.5 million aggregate principal amount
of other promissory notes; provided that such promissory notes are on terms no more favorable to the holders thereof as those afforded
to the Purchasers in the Notes and that such promissory notes shall be subordinate in right of repayment to the Notes.”

 

2.             Amendment
to Section 5.1. Section 5.1 of the Agreement shall be amended and restated in its entirety as follows:

 

“5.1      Payment
of Hotel Revenue Share.

 

(a)            With
respect to the six (6)-year period commencing on July 1, 2022 and terminating on June 30, 2028 (the “Revenue Share
Period”), the Company shall pay to each Purchaser such Purchaser’s pro rata percentage (as
set forth on the signature page hereto executed by such Purchaser) of the Applicable Percentage (as defined below) of the Quarterly
Net Rental Revenues (as defined below) received by the Company or any Affiliate thereof during each calendar quarter during the Revenue
Share Period. Within ten (10) days of the last Business Day of each calendar quarter during the Revenue Share Period prior to the
consummation of the IPO, or within ten (10) days of the date of the filing by the Company of its Quarterly Report on Form 10-Q
for each calendar quarter during the Revenue Share Period after consummation of the IPO, the Company shall deliver to each Purchaser an
officer’s certificate (a “Revenue Share Certificate”) certified by the Chief Financial Officer of the Company
that sets forth (i) the Quarterly Net Rental Revenues received by the Company and each Affiliate of the Company during the immediately
preceding calendar quarter, (ii) the amount that is equal to the Applicable Percentage of the Quarterly Net Rental Revenues (such
amount, the “Revenue Share”) for such immediately preceding calendar quarter, and (iii) such Purchaser’s
pro rata percentage of such Revenue Share (the “Payment Amount”), which certificate shall set forth the basis for the
Company’s calculation of such Quarterly Net Rental Revenues, such Revenue Share and the Payment Amount. The Company shall pay to
each Purchaser such Purchaser’s Payment Amount by wire transfer of immediately available funds within two (2) Business Days
of the date of delivery of the applicable Revenue Share Certificate to such account as such Purchaser shall have directed in writing.
If the Company fails to pay any Payment Amount within five (5) Business Days of the date due hereunder, such Payment Amount shall
be increased to an amount equal to 130% of such Payment Amount and such increased Payment Amount shall accrue interest daily from the
date due until the date paid at a rate equal to 2.0% per month (24% per annum) calculated on the basis of a 360-day year consisting of
twelve 30-day periods. For purposes of this Section 5.1, the term “Applicable Percentage” shall mean, for each
of the first four (4) calendar quarters during the Revenue Share Period, five percent (5%), and for each other calendar quarter during
the Revenue Share Period, one percent (1%), and the term “Quarterly Net Rental Revenues” shall mean, with respect to
each calendar quarter during the Revenue Share Period, the gross rental revenues received by the Company and its Affiliates during such
calendar quarter from the lease of accommodation units at the property located at 967 Sixth Avenue in New York City (the “Property”),
as determined in accordance with GAAP, net of any lease refunds during such calendar quarter as so determined.

 

     

     

    

 

(b)            If
the lease or sublease of the Company or any Affiliate of the Company with respect to the Property (or any Replacement Property), or the
Property (or any Replacement Property) is permanently closed for business, during the first twelve (12) Revenue Share Periods for the
Property, the Company shall designate another hotel property of similar size and location that is reasonably acceptable to the Purchasers
to be designated as the Property for purposes of this Agreement (each, a “Replacement Property”).

 

(c)            The
obligations of the Company to pay the Payment Amounts and interest, if any, thereon pursuant to Section 5.1(a) shall be secured
by the Security Agreement as set forth therein.

 

(d)            The
Company shall use its best efforts to cause all leases or subleases with respect to the Property or any Replacement Property to be in
the name of CorpHousing RSL LLC, a Delaware limited liability company
and a wholly-owned subsidiary of the Company (“Leaseco”), and shall cause all revenues received with respect to the
Property or any Replacement Property to be deposited in a deposit account maintained in the name of Leaseco; provided, however, that if
the Company is unable to obtain landlord consent to the assignment of the lease or sublease of the Property to Leaseco, the Company shall
assign or cause to be assigned to Leaseco the lease or sublease for another hotel property of similar size and location as the Property
that is reasonably acceptable to the Purchasers and to cause all revenues received with respect to the property that is the subject of
such lease or sublease to be deposited in a deposit account maintained in the name of Leaseco. The Company shall cause Leaseco to maintain
ownership of each lease or sublease of the Property or any Replacement Property (and any lease or sublease assigned to Leaseco pursuant
to the proviso of the immediately preceding sentence) and shall take all required action to ensure that Leaseco does not sell, assign
or otherwise transfer any such lease or sublease without the prior written consent of each Purchaser. Leaseco shall
have no commercial operations other than to hold and operate the leases and related operations for the Property or any Replacement
Property or any other property in which the Purchaser or its assignee has an interest and
to receive rental payments and other revenues relating to the Property or any Replacement Property or any other property in which
the Purchaser or its assignee has an interest.”

 

    	 	2	 

     

    

 

3.              Exhibit A.
The form of Note annexed as Exhibit A to the Agreement is hereby amended and restated and replaced in its entirety by Exhibit A
to this Amendment.

 

4.              Exchange
of Note. Concurrrently with the execution and delivery of this Amendment, the Company and the Purchaser shall exchange the outstanding
Note issued pursuant to the Agreement for a Note in the same principal amount in the form, and having the terms, set forth in Exhibt
A to this Amendment. In connection with such exchange, the Company and the Purchaser acknowledge and agree that such exchange will
be exempt from registration under applicable United States securities laws as a result of the exchange being undertaken pursuant to Section 3(a)(9) of
the Securities Act. The Company covenants and represents to the Purchaser that neither the Company nor any of its Subsidiaries
has received, anticipates receiving, has any agreement to receive or has been given any promise to receive any consideration from the
Purchaser or any other Person in connection with the transactions contemplated by this Section 3. The Company hereby acknowledges
that the holding period of the Note issued in such exchange (and Shares issuable upon conversion of such Note) shall tack back to the
date the Notes were originally issued by the Company to the Purchaser (or its assignor) under the Agreement and it covenants not to take
any position to the contrary.

 

5.              Limited
Effect. Except as expressly amended hereby, all of the terms and provisions of the Agreement shall remain in full force and effect.

 

6.              Governing
Law. This Amendment shall be governed by, and construed in accordance with, the laws of the State of Delaware.

 

7.              Counterparts.
This Amendment may be executed in any number of counterparts, all of which shall constitute one and the same agreement, and any party
hereto may execute this Amendment by signing and delivering one or more counterparts.

 

IN
WITNESS WHEREOF, the parties hereto by their duly authorized representatives have executed this Amendment to be effective as
of the Amendment Effective Date.

 

	
    CORPHOUSING GROUP INC.

    

    

    
	 	
    GREENLE
    PARTNERS LLC SERIES ALPHA P.S.

    

    

    

 

	By:	 	 	By:	 
	 	Name:	Mendi Baron	 	 	Name:	Alan Uryniak
	 	Title:	Chief Executive Officer	 	 	Title:	Manager
	 	 	 

 

    	 	3	 

     

    

 

EXHIBIT A

 

THIS NOTE HAS BEEN ISSUED WITH “ORIGINAL
ISSUE DISCOUNT” FOR U.S. FEDERAL INCOME TAX PURPOSES. THE ISSUER OF THIS NOTE WILL MAKE AVAILABLE TO ANY HOLDER OF THIS NOTE: (1) THE
ISSUE PRICE AND ISSUE DATE OF THE NOTE, (2) THE AMOUNT OF ORIGINAL ISSUE DISCOUNT ON THE NOTE, (3) THE YIELD TO MATURITY OF
THE NOTE, AND (4) ANY OTHER INFORMATION REQUIRED TO BE MADE AVAILABLE BY U.S. TREASURY REGULATIONS UPON RECEIVING A WRITTEN REQUEST
FOR SUCH INFORMATION AT THE FOLLOWING ADDRESS: 2125 BISCAYNE BLVD., SUITE 253, MIAMI, FLORIDA 33137.

 

NEITHER THIS SECURITY NOR THE SECURITIES INTO
WHICH THIS SECURITY IS CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY
STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT
TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE
WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH
SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THIS SECURITY AND THE SECURITIES ISSUABLE UPON CONVERSION OF THIS SECURITY MAY BE
PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

	Dated as of:	May 27, 2022	 	Purchase Price:	$1,500,000	 
	Maturity Date:	May 27, 2023	 	Original
Issue Discount:	$225,000	 
	Interest Rate:	5%	 	Original
Principal Amount:	 $1,725,000	 

 

15% OID SENIOR SECURED CONVERTIBLE PROMISSORY
NOTE 

DUE MAY 27, 2023

 

THIS 15% OID SENIOR CONVERTIBLE
PROMISSORY NOTE is one of a series of duly authorized and validly issued 15% OID Senior Secured Convertible Promissory Notes of CorpHousing
Group Inc., a Delaware corporation (the “Company”), having its principal place of business at 2125 Biscayne Boulevard,
Suite 253, Miami, Florida 33137, designated as its 15% OID Senior Convertible Promissory Notes (this Note, the “Note”
and, collectively with the other Notes of such series, the “Notes”).

 

FOR VALUE RECEIVED, the Company
hereby promises to pay to the order of Greenle Partners LLC Series Alpha P.S. or its registered assigns or successors-in-interest
(the “Holder”), or shall have paid  pursuant to the terms hereunder, an amount equal to 115% of the principal
amount set forth above on May 27, 2023 (the “Maturity Date”) or such earlier date as this Note is required or
permitted to be repaid as provided hereunder, and to pay interest to the Holder on the aggregate unconverted and then outstanding principal
amount of this Note in accordance with the provisions hereof.

 

This Note is being issued
pursuant to that Securities Purchase Agreement dated as of May 27, 2022 and amended as of June 30, 2022 (the “Purchase
Agreement”) between the Company and the Holder (defined below) and the other purchasers, if any, of the Notes.

 

    	 	Ex A-1	 

     

    

 

This Note is subject to the
following additional provisions:

 

1.             Definitions.
For the purposes hereof, in addition to the terms defined elsewhere in this Note, (a) capitalized terms not otherwise defined herein
shall have the meanings set forth in the Purchase Agreement and (b) the following terms shall have the following meanings:

 

“Alternate Consideration”
shall have the meaning set forth in Section 5(e).

 

“Bankruptcy Event”
means any of the following events: (a) the Company or any Significant Subsidiary (as such term is defined in Rule 1-02(w) of
Regulation S-X) thereof commences a case or other proceeding under any bankruptcy, reorganization, arrangement, adjustment of debt, relief
of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction relating to the Company or any Significant Subsidiary
thereof, (b) there is commenced against the Company or any Significant Subsidiary thereof any such case or proceeding that is not
dismissed within 60 days after commencement, (c) the Company or any Significant Subsidiary thereof is adjudicated insolvent or bankrupt
or any order of relief or other order approving any such case or proceeding is entered, (d) the Company or any Significant Subsidiary
thereof suffers any appointment of any custodian or the like for it or any substantial part of its property that is not discharged or
stayed within 60 calendar days after such appointment, (e) the Company or any Significant Subsidiary thereof makes a general assignment
for the benefit of creditors, (f) the Company or any Significant Subsidiary thereof calls a meeting of its creditors with a view
to arranging a composition, adjustment or restructuring of its debts or (g) the Company or any Significant Subsidiary thereof, by
any act or failure to act, expressly indicates its consent to, approval of or acquiescence in any of the foregoing or takes any corporate
or other action for the purpose of effecting any of the foregoing.

 

“Base Conversion
Price” shall have the meaning set forth in Section 5(b).

 

“Beneficial Ownership
Limitation” shall have the meaning set forth in Section 4(d).

 

“Change of Control
Transaction” means the occurrence after the date hereof of any of (a) an acquisition after the date hereof by an individual
or legal entity or “group” (as described in Rule 13d-5(b)(1) promulgated under the Exchange Act) of effective control
(whether through legal or beneficial ownership of capital stock of the Company, by contract or otherwise) of in excess of 49% of the voting
securities of the Company (other than by means of conversion or exercise of the Notes and the Securities issued together with the Notes),
(b) the Company merges into or consolidates with any other Person, or any Person merges into or consolidates with the Company and,
after giving effect to such transaction, the stockholders of the Company immediately prior to such transaction own less than 50% of the
aggregate voting power of the Company or the successor entity of such transaction, (c) the Company sells or transfers all or substantially
all of its assets to another Person and the stockholders of the Company immediately prior to such transaction own less than 50% of the
aggregate voting power of the acquiring entity immediately after the transaction, (d) a replacement at one time or within a three-year
period of more than one-half of the members of the Board of Directors which is not approved by a majority of those individuals who are
members of the Board of Directors on the Original Issue Date (or by those individuals who are serving as members of the Board of Directors
on any date whose nomination to the Board of Directors was approved by a majority of the members of the Board of Directors who are members
on the date hereof), or (e) the execution by the Company of an agreement to which the Company is a party or by which it is bound,
providing for any of the events set forth in clauses (a) through (d) above.

 

“Conversion”
shall have the meaning ascribed to such term in Section 4.

 

“Conversion Date”
shall have the meaning set forth in Section 4(a).

 

    	 	Ex A-2	 

     

    

 

“Conversion Price”
shall have the meaning set forth in Section 4(b).

 

“Conversion Schedule”
means the Conversion Schedule in the form of Schedule 1 attached hereto.

 

“Conversion Shares”
means, collectively, the shares of Common Stock (or if units consisting of Common Stock and warrants are sold in the IPO, the securities
comprising such units) issuable upon conversion of this Note in accordance with the terms hereof.

 

“Delaware Courts”
shall have the meaning set forth in Section 7(d).

 

“Dilutive Issuance”
shall have the meaning set forth in Section 5(b).

 

“Dilutive Issuance
Notice” shall have the meaning set forth in Section 5(b).

 

“Event of Default”
shall have the meaning set forth in Section 6(a).

 

“Fundamental Transaction”
shall have the meaning set forth in Section 5(e).

 

“IPO” means
the consummation of the first underwritten public offering of Common Stock under the Securities Act.

 

“June Purchase
Agreement” means the Securities Purchase Agreement dated as of June __, 2022 between the Company and Greenle Partners LLC
Series Alpha P.S. and the other purchasers, if any, of the Other Notes.

 

“Late Fees”
shall have the meaning set forth in Section 2(c).

 

“Mandatory Default
Amount” means the payment of 130% of the outstanding principal amount of this Note and accrued and unpaid interest hereon, in
addition to the payment of all other amounts, costs, expenses and liquidated damages due in respect of this Note.

 

“Note Register”
shall have the meaning set forth in Section 2(b).

 

“Notice of Conversion”
shall have the meaning set forth in Section 4(a).

 

“Original Issue Date”
means the date of the first issuance of the Notes, regardless of any transfers of any Note and regardless of the number of instruments
which may be issued to evidence such Notes.

 

“Other Notes”
means the Series B 15% OID Senior Secured Convertible Promissory Notes of the Company issued pursuant to the June Purchase Agreement
and any notes issued upon registration of transfer thereof or in exchange therefor.

 

“Securities Act”
means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Share Delivery Date”
shall have the meaning set forth in Section 4(c)(ii).

 

“Successor Entity”
shall have the meaning set forth in Section 5(e).

 

“Trading Market”
means any of the following markets or exchanges on which the Common Stock (or any other common stock of any other Person that references
the Trading Market for its common stock) is listed or quoted for trading on the date in question: The NASDAQ Global Market, The NASDAQ
Global Select Market, The NASDAQ Capital Market, the New York Stock Exchange, NYSE Arca, the NYSE American, the OTCQX Marketplace, the
OTCQB Marketplace, the OTC Pink Marketplace or any other tier operated by OTC Markets Group Inc. (or any successor to any of the foregoing).

 

    	 	Ex A-3	 

     

    

 

2.             Interest
and Prepayments.

 

(a)            Payment
of Interest in Cash. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount
of this Note at the rate of five percent (5%) per annum. All interest payments hereunder will be payable in cash. Accrued and unpaid interest
shall be due on payable on the Maturity Date, or as otherwise set forth herein.

 

(b)            Interest
Calculations. Interest shall be calculated on the basis of a 360-day year, consisting of twelve 30 calendar day periods, and shall
accrue daily commencing on the Original Issue Date until payment in full of the outstanding principal, together with all accrued and unpaid
interest, liquidated damages and other amounts which may become due hereunder, has been made. Interest hereunder will be paid to the Person
in whose name this Note is registered on the records of the Company regarding registration and transfers of this Note (the “Note
Register”).

 

(c)            Late
Fee. All overdue accrued and unpaid interest to be paid hereunder shall entail a late fee at an interest rate equal to the lesser
of 18% per annum or the maximum rate permitted by applicable law (the “Late Fees”) which shall accrue daily from the
date such interest is due hereunder through and including the date of actual payment in full.

 

(d)           Prepayment.      This
Note may be prepaid by the Company in whole or in part at any time or from time to time, upon at least five (5) Business Days prior
written notice to the Holder, during which period Holder shall have the opportunity to convert this Note pursuant to Section 4 hereof
and which notice period may be waived by the Holder. If the Company exercises its right to prepay this Note at any time, the Company shall
make payment to the Holder within three (3) Business Days after such five (5) Business Day period of an amount in cash equal
to the sum of the then outstanding principal amount of this Note and accrued interest thereon, plus a prepayment
premium equal to (i) 30% of the principal amount of this Note to be prepaid if such prepayment is prior to the IPO or (ii) 15%
of the principal amount of this Note to be prepaid if such prepayment is following the IPO.

 

(e)            Prepayment
Upon Qualified Financing. If the Company completes a Qualified Financing (as defined below), the Company shall, at the request of
the Holder made in writing to the Company no later than seven (7) Business Days following consummation of the Qualified Financing,
repay up to fifty percent (50%) of the then-outstanding principal amount of this Note and any accrued but unpaid interest, plus an amount
equal to the applicable prepayment premium on the date of such repayment; provided, however, that the Company shall not be obligated to
repay an aggregate principal amount of Notes or Other Notes out of the proceeds of a Qualified Financing that is more
than the greater of (i) $2,500,000, or (ii) an amount equal to fifty percent (50%) of the aggregate Subscription Amount paid
by all Holders of Notes and holders of Other Notes under this Agreement and the June Purchase Agreement (the “Maximum
Repayment Amount”). If, with respect to a Qualified Offering, the Company receives requests for the repayment of an aggregate
principal amount of Notes and Other Notes that is greater than the Maximum Repayment Amount, the Company shall be required to pay to each
holder of Notes or Other Notes that has requested repayment, including the Holder, such holder’s pro rata portion of the Maximum
Repayment Amount based upon the principal amount of Notes and Other Notes held by each such holder relative to the aggregate principal
amount of Notes and Other Notes held by all such holders. Such repayment shall be due within three (3) Business Days of the Company’s
receipt of such written request. The Company shall give written notice to Holder (i) of a proposed Qualified Offering as soon as
practicable, but in no event less than seven (7) Business Days before the anticipated closing date of such Qualified Financing, and
(ii) of the closing of a Qualified Offering within one (1) Business Day of the consummation of a Qualified Offering, during
which periods Holder shall have the opportunity to convert this Note pursuant to Section 4 hereof. The term “Qualified Financing”
shall mean that the Company issues and sells shares of its equity or debt securities to investors on or before the Maturity Date in a
financing with total gross proceeds to the Company of not less than $10,000,000 (excluding the conversion of the notes or other convertible
securities issued for capital raising purposes).

 

    	 	Ex A-4	 

     

    

 

3.             Registration
of Transfers and Exchanges.

 

(a)            Different
Denominations. This Note is exchangeable for an equal aggregate principal amount of Notes of different authorized denominations, as
requested by the Holder surrendering the same. No service charge will be payable for such registration of transfer or exchange.

 

(b)            Investment
Representations. This Note has been issued subject to certain investment representations of the original Holder set forth in the Purchase
Agreement and may be transferred or exchanged only in compliance with the Purchase Agreement and applicable federal and state securities
laws and regulations.

 

(c)            Reliance
on Note Register. Prior to due presentment for transfer to the Company of this Note, the Company and any agent of the Company may
treat the Person in whose name this Note is duly registered on the Note Register as the owner hereof for the purpose of receiving payment
as herein provided and for all other purposes, whether or not this Note is overdue, and neither the Company nor any such agent shall be
affected by notice to the contrary.

 

4.             Conversion.

 

(a)            Voluntary
Conversion. This Note shall be convertible, in whole or in part, into shares of Common Stock, or if units of Common Stock and warrants
are sold by the Company in the IPO, into identical units of Common Stock and warrants, at the option of the Holder, at any time and from
time to time following the closing of the IPO (subject to the conversion limitations set forth in Section 4(d) hereof); provided,
however, that if the Company elects to prepay this Note in whole or in part at any time prior to the closing of the IPO, the Holder of
this Note may elect to convert the amount to be paid by the Company in respect of such prepayment into shares of Common Stock at any time
prior to the payment of such prepayment amount. The Holder shall effect conversions by delivering to the Company a Notice of Conversion,
the form of which is attached hereto as Annex A (each, a “Notice of Conversion”), specifying therein the principal
amount of this Note to be converted, accrued and unpaid interest outstanding under this Note to be converted, and the date on which such
conversion shall be effected (such date, the “Conversion Date”). If no Conversion Date is specified in a Notice of
Conversion, the Conversion Date shall be the date that such Notice of Conversion is deemed delivered hereunder. No ink-original Notice
of Conversion shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Conversion
form be required. To effect conversions hereunder, the Holder shall not be required to physically surrender this Note to the Company unless
the entire principal amount of this Note, plus all accrued and unpaid interest thereon, has been so converted. Conversions hereunder shall
have the effect of lowering the outstanding principal amount of this Note in an amount equal to the applicable conversion. The Holder
and the Company shall maintain a Conversion Schedule showing the principal amount(s) converted, the corresponding paydown of interest
and the date of such conversion(s). The Company may deliver an objection to any Notice of Conversion within three (3) Business Days
of delivery of such Notice of Conversion. In the event of any dispute or discrepancy, the records of the Holder shall be controlling and
determinative in the absence of manifest error. The Holder, and any assignee by acceptance of this Note, acknowledge and agree that,
by reason of the provisions of this paragraph, following conversion of a portion of this Note, the unpaid and unconverted principal amount
of this Note may be less than the amount stated on the face hereof.

 

    	 	Ex A-5	 

     

    

 

(b)            Conversion
Price. The conversion price in effect on any Conversion Date shall initially be equal to (i) if such Conversion Date is following
the closing of the IPO, an amount equal to seventy-five percent of the price per share or price per unit at which Common Stock or units
of Common Stock and warrants is sold in the IPO, or (ii) if such Conversion Date is prior to the closing of the IPO, an amount equal
to the value of a share of Common Stock on such Conversion Date determined as the quotient of an assumed $75 million valuation of the
Company divided by the number of outstanding shares of Common Stock on a fully-diluted basis on such date assuming the conversion or exercise
of all securities that are convertible into, or exercisable to purchase, shares of Common Stock (the “Conversion Price”).

 

(c)            Mechanics
of Conversion.

 

i.              Conversion
Shares Issuable Upon Conversion of Principal Amount, Interest and Mandatory Default Amount. The number of Conversion Shares issuable
upon a conversion hereunder shall be determined by the quotient obtained by dividing (x) the outstanding principal amount of this
Note to be converted and any accrued and unpaid interest to be converted, which amount may include the Mandatory Default Amount, by (y) the
Conversion Price.

 

ii.             Delivery
of Certificate Upon Conversion. Not later than three (3) Trading Days after each Conversion Date (the “Share Delivery
Date”), the Company shall deliver, or cause to be delivered, to the Holder (A) a certificate or certificates representing
the Conversion Shares which, on or after the date on which such Conversion Shares are eligible to be sold under Rule 144 without
the need for current public information and the Company has received an opinion of counsel to such effect reasonably acceptable to the
Company, shall be free of restrictive legends and trading restrictions (other than those which may then be required by the Purchase Agreement)
representing the number of Conversion Shares being acquired upon the conversion of this Note, and (B) a bank check in the amount
of accrued and unpaid interest (if the Company has elected or is required to pay accrued interest in cash). All certificate or certificates
required to be delivered by the Company under this Section 4(c) shall be delivered electronically through the Depository Trust
Company or another established clearing corporation performing similar functions, if available, or physical certificates if not available.
If the Conversion Date is prior to the date on which such Conversion Shares are eligible to be sold under Rule 144 without the need
for current public information the Conversion Shares shall bear a restrictive legend in the following form, as appropriate:

 

“NEITHER THE ISSUANCE AND SALE
OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD,
TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE
FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING
THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT
SECURED BY THE SECURITIES.”

 

    	 	Ex A-6	 

     

    

 

iii.            Failure
to Deliver Certificates. If, in the case of any Notice of Conversion, such certificate or certificates are not delivered to or as
directed by the applicable Holder by the Share Delivery Date, the Holder shall be entitled to elect by written notice to the Company at
any time on or before its receipt of such certificate or certificates, to rescind such Conversion, in which event the Company shall promptly
return to the Holder any original Note delivered to the Company and the Holder shall promptly return to the Company the Common Stock certificates
issued to such Holder pursuant to the rescinded Conversion Notice. Notwithstanding the obligations of the Company contained in Section 4(c) to
deliver share certificates, any requirement to deliver share certificates shall be remedied by recording share issuances in favor of the
Holder in book entry form and delivery to the Holder of written evidence of such share issuances.

 

iv.            Obligation
Absolute; Partial Liquidated Damages. The Company’s obligations to issue and deliver the Conversion Shares upon conversion of
this Note in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to
enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action
to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder
or any other Person of any obligation to the Company or any violation or alleged violation of law by the Holder or any other Person, and
irrespective of any other circumstance which might otherwise limit such obligation of the Company to the Holder in connection with the
issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by the Company of
any such action the Company may have against the Holder. Nothing herein shall limit a Holder’s right to pursue actual damages or
declare an Event of Default pursuant to Section 6 hereof for the Company’s failure to deliver Conversion Shares within the
period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including,
without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the
Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

 

vi.            Reservation
of Shares Issuable Upon Conversion. The Company covenants that it will at all times reserve and keep available out of its authorized
and unissued shares of Common Stock a number of shares of Common Stock at least equal to the Required Minimum (as defined in the Purchase
Agreement) for the sole purpose of issuance upon conversion of this Note and payment of interest on this Note, each as herein provided,
free from preemptive rights or any other actual contingent purchase rights of Persons other than the Holder (and the other holders of
the Notes), not less than such aggregate number of shares of the Common Stock as shall (subject to the terms and conditions set forth
in the Purchase Agreement) be issuable (taking into account the adjustments and restrictions of Section 5) upon the conversion of
the then outstanding principal amount of this Note and payment of interest hereunder. The Company covenants that all shares of Common
Stock that shall be so issuable shall, upon issue, be duly authorized, validly issued, fully paid and nonassessable.

 

vii.           Fractional
Shares. No fractional shares or scrip representing fractional shares shall be issued upon the conversion of this Note. As to any fraction
of a share which the Holder would otherwise be entitled to purchase upon such conversion, the Company shall at its election, either pay
a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Conversion Price or round up
to the next whole share.

 

viii.          Transfer
Taxes and Expenses. The issuance of certificates for shares of the Common Stock on conversion of this Note shall be made without charge
to the Holder hereof for any documentary stamp or similar taxes that may be payable in respect of the issue or delivery of such certificates,
provided that, the Company shall not be required to pay any tax that may be payable in respect of any transfer involved in the issuance
and delivery of any such certificate upon conversion in a name other than that of the Holder of this Note so converted and the Company
shall not be required to issue or deliver such certificates unless or until the Person or Persons requesting the issuance thereof shall
have paid to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid.
The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Conversion.

 

    	 	Ex A-7	 

     

    

 

(d)            Holder’s
Conversion Limitations. The Company shall not effect any conversion of principal and/or interest of this Note, and a Holder shall
not have the right to convert any principal and/or interest of this Note, to the extent that after giving effect to the conversion set
forth on the applicable Notice of Conversion, the Holder (together with the Holder’s Affiliates, and any Persons acting as a group
together with the Holder or any of the Holder’s Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation
(as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and
its Affiliates shall include the number of shares of Common Stock issuable upon conversion of this Note with respect to which such determination
is being made, but shall exclude the number of shares of Common Stock which are issuable upon (i) conversion of the remaining, unconverted
principal amount of this Note beneficially owned by the Holder or any of its Affiliates and (ii) exercise or conversion of the unexercised
or unconverted portion of any other securities of the Company subject to a limitation on conversion or exercise analogous to the limitation
contained herein (including, without limitation, any other Notes or the Warrants) beneficially owned by the Holder or any of its Affiliates.
Except as set forth in the preceding sentence, for purposes of this Section 4(d), beneficial ownership shall be calculated in accordance
with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. To the extent that the limitation
contained in this Section 4(d) applies, the determination of whether this Note is convertible (in relation to other securities
owned by the Holder together with any Affiliates) and of which principal amount of this Note is convertible shall be in the sole discretion
of the Holder, and the submission of a Notice of Conversion shall be deemed to be the Holder’s determination of whether this Note
may be converted (in relation to other securities owned by the Holder together with any Affiliates) and which principal amount of this
Note is convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, the Holder
will be deemed to represent to the Company each time it delivers a Notice of Conversion that such Notice of Conversion has not violated
the restrictions set forth in this paragraph and the Company shall have no obligation to verify or confirm the accuracy of such determination.
In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of
the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 4(d), in determining the
number of outstanding shares of Common Stock, the Holder may rely on the number of outstanding shares of Common Stock as stated in the
most recent of the following: (i) the Company’s most recent periodic or annual report filed with the Commission, as the case
may be, (ii) a more recent public announcement by the Company, or (iii) a more recent written notice by the Company or the Company’s
transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company
shall within two Trading Days confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding. In any
case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities
of the Company, including this Note, by the Holder or its Affiliates since the date as of which such number of outstanding shares of Common
Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% of the number of shares of the Common Stock
outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon conversion of this Note held by the
Holder. The Holder, upon not less than 61 days’ prior notice to the Company, may increase or decrease the Beneficial Ownership Limitation
provisions of this Section 4(d), provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares
of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon conversion of this Note
held by the Holder and the Beneficial Ownership Limitation provisions of this Section 4(d) shall continue to apply. Any such
increase or decrease will not be effective until the 61st day after such notice is delivered to the Company. The Beneficial
Ownership Limitation provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with
the terms of this Section 4(d) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with
the intended Beneficial Ownership Limitation contained herein or to make changes or supplements necessary or desirable to properly give
effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Note.

 

    	 	Ex A-8	 

     

    

 

5.             Certain
Adjustments.

 

(a)            Stock
Dividends and Stock Splits. If the Company, at any time while this Note is outstanding: (i) pays a stock dividend or otherwise
makes a distribution or distributions payable in shares of Common Stock on shares of Common Stock or any Common Stock Equivalents (which,
for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon conversion of, or payment of interest
on, the Notes), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including
by way of a reverse stock split) outstanding shares of Common Stock into a smaller number of shares or (iv) issues, in the event
of a reclassification of shares of the Common Stock, any shares of capital stock of the Company, then the Conversion Price shall be multiplied
by a fraction of which the numerator shall be the number of shares of Common Stock (excluding any treasury shares of the Company) outstanding
immediately before such event, and of which the denominator shall be the number of shares of Common Stock outstanding immediately after
such event. Any adjustment made pursuant to this Section shall become effective immediately after the record date for the determination
of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the
case of a subdivision, combination or re-classification.

 

(b)            Subsequent
Equity Sales. If, at any time while this Note is outstanding, the Company or any Subsidiary, as applicable, sells or grants any option
to purchase or sells or grants any right to reprice, or otherwise disposes of or issues (or announces any sale, grant or any option to
purchase or other disposition), any Common Stock or Common Stock Equivalents entitling any Person to acquire shares of Common Stock at
an effective price per share that is lower than the then Conversion Price (such lower price, the “Base Conversion Price”
and such issuances, collectively, a “Dilutive Issuance”) (if the holder of the Common Stock or Common Stock Equivalents
so issued shall at any time, whether by operation of purchase price adjustments, reset provisions, floating conversion, exercise or exchange
prices or otherwise, or due to warrants, options or rights per share which are issued in connection with such issuance, be entitled to
receive shares of Common Stock at an effective price per share that is lower than the Conversion Price, such issuance shall be deemed
to have occurred for less than the Conversion Price on such date of the Dilutive Issuance), then the Conversion Price shall be reduced
to equal the Base Conversion Price. Such adjustment shall be made whenever such Common Stock or Common Stock Equivalents are issued. Notwithstanding
the foregoing, no adjustment will be made under this Section 5(b) in respect of an Exempt Issuance. The Company shall notify
the Holder in writing, no later than the Trading Day following the issuance of any Common Stock or Common Stock Equivalents subject to
this Section 5(b), indicating therein the applicable issuance price, or applicable reset price, exchange price, conversion price
and other pricing terms (such notice, the “Dilutive Issuance Notice”). For purposes of clarification, whether or not
the Company provides a Dilutive Issuance Notice pursuant to this Section 5(b), upon the occurrence of any Dilutive Issuance, the
Holder is entitled to receive a number of Conversion Shares based upon the Base Conversion Price on or after the date of such Dilutive
Issuance, regardless of whether the Holder accurately refers to the Base Conversion Price in the Notice of Conversion.

 

(c)            Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 5 above, if at any time the Company grants, issues or sells
any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any
class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to acquire, upon the terms
applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number
of shares of Common Stock acquirable upon complete conversion of this Note (without regard to any limitations on exercise hereof, including
without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is taken for the grant, issuance
or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are
to be determined for the grant, issue or sale of such Purchase Rights (provided, however, to the extent that the Holder’s right
to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall
not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result
of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time,
if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

    	 	Ex A-9	 

     

    

 

(d)            Pro
Rata Distributions. During such time as this Note is outstanding, if the Company shall declare or make any dividend or other distribution
of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including,
without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification,
corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”), at any time after
the issuance of this Note, then, in each such case, upon conversion of this Note, the Holder shall be entitled to participate in such
Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common
Stock acquirable upon complete conversion of this Note (without regard to any limitations on exercise hereof, including without limitation,
the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record
is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution
(provided, however, to the extent that the Holder’s right to participate in any such Distribution would result in
the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to
such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion
of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not
result in the Holder exceeding the Beneficial Ownership Limitation).

 

(e)            Fundamental
Transaction. If, at any time while this Note is outstanding, (i) the Company, directly or indirectly, in one or more related
transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly,
effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one
or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the
Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange their shares
for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common Stock, (iv) the
Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization
of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for
other securities, cash or property, (v) the Company, directly or indirectly, in one or more related transactions consummates a stock
or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off
or scheme of arrangement) with another Person whereby such other Person acquires more than 50% of the outstanding shares of Common Stock
(not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or affiliated with
the other Persons making or party to, such stock or share purchase agreement or other business combination) (each a “Fundamental
Transaction”), then, upon any subsequent conversion of this Note, the Holder shall have the right to receive, for each Conversion
Share that would have been issuable upon such conversion immediately prior to the occurrence of such Fundamental Transaction (without
regard to any limitation in Section 4(d) on the conversion of this Note), the number of shares of Common Stock of the successor
or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate
Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for
which this Note is convertible immediately prior to such Fundamental Transaction (without regard to any limitation in Section 4(d) on
the conversion of this Note). For purposes of any such conversion, the determination of the Conversion Price shall be appropriately adjusted
to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one (1) share of Common
Stock in such Fundamental Transaction, and the Company shall apportion the Conversion Price among the Alternate Consideration in a reasonable
manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common Stock are given
any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same
choice as to the Alternate Consideration it receives upon any conversion of this Note following such Fundamental Transaction. The Company
shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”)
to assume in writing all of the obligations of the Company under this Note and the other Transaction Documents (as defined in the Purchase
Agreement) in accordance with the provisions of this Section 5(e) pursuant to written agreements in form and substance reasonably
satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at
the option of the holder of this Note, deliver to the Holder in exchange for this Note a security of the Successor Entity evidenced by
a written instrument substantially similar in form and substance to this Note which is convertible for a corresponding number of shares
of capital stock of such Successor Entity (or its parent entity) equivalent to the shares of Common Stock acquirable and receivable upon
conversion of this Note (without regard to any limitations on the conversion of this Note) prior to such Fundamental Transaction, and
with a conversion price which applies the conversion price hereunder to such shares of capital stock (but taking into account the relative
value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number
of shares of capital stock and such conversion price being for the purpose of protecting the economic value of this Note immediately prior
to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and substance to the Holder. Upon the
occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after
the date of such Fundamental Transaction, the provisions of this Note and the other Transaction Documents referring to the “Company”
shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations
of the Company under this Note and the other Transaction Documents with the same effect as if such Successor Entity had been named as
the Company herein.

 

    	 	Ex A-10	 

     

    

 

(f)            Calculations.
All calculations under this Section 5 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For
purposes of this Section 5, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be
the sum of the number of shares of Common Stock (excluding any treasury shares of the Company) issued and outstanding.

 

(g)            Notice
to the Holder.

 

i.              Adjustment
to Conversion Price. Whenever the Conversion Price is adjusted pursuant to any provision of this Section 5, the Company shall
promptly deliver to each Holder a notice setting forth the Conversion Price after such adjustment and setting forth a brief statement
of the facts requiring such adjustment.

 

ii.             Notice
to Allow Conversion by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the
Company shall authorize the granting to all holders of the Common Stock of rights or warrants to subscribe for or purchase any shares
of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection
with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of all
or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted into other securities,
cash or property or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs
of the Company, then, in each case, the Company shall cause to be filed at each office or agency maintained for the purpose of conversion
of this Note, and shall cause to be delivered to the Holder at its last address as it shall appear upon the Note Register, at least twenty
(20) calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which
a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken,
the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants
are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected
to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to
exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation,
merger, sale, transfer or share exchange, provided that the failure to deliver such notice or any defect therein or in the delivery thereof
shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided
hereunder constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall
simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to
convert this Note during the 20-day period commencing on the date of such notice through the effective date of the event triggering such
notice except as may otherwise be expressly set forth herein.

 

    	 	Ex A-11	 

     

    

 

(h)            Adjustment
for More Favorable Terms Contained in Future Financings. So long as this Note is outstanding, upon any issuance by the Company or
any of its subsidiaries of any security or debt instrument, including any convertible debt security (whether such debt begins with a convertible
feature or such feature is added at a later date) or other Common Stock Equivalents, with any term more favorable to the holder of such
security or with a term in favor of the holder of such security that was not similarly provided to the Holder in this Note, then the Company
shall notify the Holder of such additional or more favorable term and such term, at the Holder’s option, shall become a part of
this Note and its supporting documentation. The types of terms contained in the other security that may be more favorable to the holder
of such security include, but are not limited to, terms addressing conversion discounts, conversion look back periods, interest rates,
original issue discount percentages and warrant coverage.

 

6.             Events
of Default.

 

(a)            “Event
of Default” means, wherever used herein, any of the following events (whatever the reason for such event and whether such event
shall be voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court, or any order,
rule or regulation of any administrative or governmental body):

 

i.              any
default in the payment of (A) the principal amount of any Note or (B) interest, liquidated damages and other amounts owing to
a Holder on any Note, as and when the same shall become due and payable (whether on a Conversion Date or the Maturity Date or by acceleration
or otherwise) which default, solely in the case of an interest payment or other default under clause (B) above, is not cured within
five (5) Trading Days;

 

ii.             the
Company shall materially fail to observe or perform any other covenant or agreement contained in the Notes (other than a breach by the
Company of its obligations to deliver shares of Common Stock to the Holder upon conversion, which breach is addressed in clause (ix) below)
which failure is not cured, if possible to cure, within the earlier to occur of (A) seven (7) Trading Days after notice of such
failure sent by the Holder or by any other Holder to the Company and (B) ten (10) Trading Days after the Company has become
or should have reasonably become aware of such failure;

 

    	 	Ex A-12	 

     

    

 

iii.            the
Company shall materially fail to observe or perform any other covenant or agreement contained in, or a default or event of default (subject
to any grace or cure period provided in the applicable agreement, document or instrument) shall occur under the specific terms of, any
of the other Transaction Documents which failure is not cured, if possible to cure, within the earlier to occur of (A) five (5) Trading
Days after notice of such failure sent by the Holder or by any other Holder to the Company and (B) ten (10) Trading Days after
the Company has become or should have become aware of such failure;

 

iv.            any
representation or warranty made in this Note, any other Transaction Documents, any written statement pursuant hereto or thereto or any
other report, financial statement or certificate made or delivered to the Holder shall be untrue or incorrect in any material respect
as of the date when made or deemed made;

 

v.             the
Company or any Significant Subsidiary (as such term is defined in Rule 1-02(w) of Regulation S-X) shall be subject to a Bankruptcy
Event;

 

vii.           following
the IPO, the Common Stock shall not be eligible for listing or quotation for trading on a Trading Market and shall not be eligible to
resume listing or quotation for trading thereon within twenty-one Trading Days or the transfer of shares of Common Stock through the Depository
Trust Company System is no longer available for twenty-one Trading Days;

 

viii.          the
Company shall be a party to any Change of Control Transaction or Fundamental Transaction or shall agree to sell or dispose of all or in
excess of 33% of its assets in one transaction or a series of related transactions (whether or not such sale would constitute a Change
of Control Transaction);

 

ix.            the
Company shall fail for any reason to deliver certificates to a Holder prior to the third Trading Day after a Conversion Date pursuant
to Section 4(c) or the Company shall provide at any time notice to the Holder, including by way of public announcement, of the
Company’s intention to not honor requests for conversions of any Notes in accordance with the terms hereof;

 

x.              following
the IPO, the Company fails to file with the Commission, subject to any extension permitted by Commission regulations, including Rule 12b-25
under the Exchange Act, any required reports under Section 13 or 15(d) of the Exchange Act such that it is not in compliance
with Rule 144(c)(1) (or Rule 144(i)(2), if applicable);

 

xi.            if
the Company or any Significant Subsidiary shall: (i) apply for or consent to the appointment of a receiver, trustee, custodian or
liquidator of it or any of its properties, (ii) make a general assignment for the benefit of creditors, (iii) be adjudicated
a bankrupt or insolvent or be the subject of an order for relief under Title 11 of the United States Code or any bankruptcy, reorganization,
insolvency, readjustment of debt, dissolution or liquidation law or statute of any other jurisdiction or foreign country, or (iv) file
a voluntary petition in bankruptcy, or a petition or an answer seeking reorganization or an arrangement with creditors or to take advantage
or any bankruptcy, reorganization, insolvency, readjustment of debt, dissolution or liquidation law or statute, or an answer admitting
the material allegations of a petition filed against it in any proceeding under any such law, or (v) take or permit to be taken any
action in furtherance of or for the purpose of effecting any of the foregoing;

 

    	 	Ex A-13	 

     

    

 

xii.            if
any order, judgment or decree shall be entered, without the application, approval or consent of the Company or any Significant Subsidiary,
by any court of competent jurisdiction, approving a petition seeking liquidation or reorganization of the Company or any Subsidiary, or
appointing a receiver, trustee, custodian or liquidator of the Company or any Subsidiary, or of all or any substantial part of its assets,
and such order, judgment or decree shall continue unstayed and in effect for any period of sixty (60) days;

 

xiii.           the
occurrence of any levy upon or seizure or attachment of, or any uninsured loss of or damage to, any property of the Company or any Subsidiary
having an aggregate fair value or repair cost (as the case may be) in excess of $100,000 individually or in the aggregate, and any such
levy, seizure or attachment shall not be set aside, bonded or discharged within thirty (30) days after the date thereof;

 

xiv.          the
Company or any subsidiary shall default on any of its obligations under any mortgage(s), credit agreement(s) or other facility, indenture
agreement(s), factoring agreement(s) or other instrument(s) under which there may be issued, or by which there may be secured
or evidenced, any indebtedness for borrowed money or money due under any long term leasing or factoring arrangement that (a) involve(s) obligations
greater than $100,000 in the aggregate, whether such indebtedness now exists or shall hereafter be created, and (b) results in such
indebtedness becoming or being declared due and payable prior to the date on which it would otherwise become due and payable;

 

xv.           any
monetary judgement, writ or similar final process shall be entered or filed after the date hereof against the Company, any subsidiary
or any of their respective property or assets for more than $100,000, and such judgement, writ or similar process shall remain unvacated,
unbonded or unstayed for a period of 45 calendar days; or

 

xvi.          the
Company shall fail to maintain sufficient reserved shares pursuant to Section 4.11 of the Purchase Agreement, subject to a cure period
of ten (10) Trading Days.

 

(b)           Remedies
Upon Event of Default. Subject to the Beneficial Ownership Limitation as set forth in Section 4(d), if any Event of Default occurs,
then the outstanding principal amount of this Note, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect
thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory
Default Amount.  After the occurrence of any Event of Default that results in the eventual acceleration of this Note, the interest
rate on this Note shall accrue at an additional interest rate equal to the lesser of 1.5% per month (18% per annum) or the maximum rate
permitted under applicable law.  Upon the payment in full of the Note, the Holder shall promptly surrender this Note to or as directed
by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any
presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce
any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be
rescinded and annulled by Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Note until
such time, if any, as the Holder receives full payment pursuant to this Section 6(b). No such rescission or annulment shall affect
any subsequent Event of Default or impair any right consequent thereon.

 

7.             Security.
This Note is secured by the Security Agreement (as defined in the Purchase Agreement), executed by the Company and its subsidiaries
in favor of the Holders encumbering the collateral set forth therein, as more specifically set forth in the Security Agreement, all the
terms and conditions of which are hereby incorporated into and made a part of this Note.

 

    	 	Ex A-14	 

     

    

 

8.             Miscellaneous.

 

(a)            Notices.
Any and all notices or other communications or deliveries to be provided by the Holder hereunder, including, without limitation, any Notice
of Conversion, shall be in writing and delivered personally, by facsimile, by email, or sent by a nationally recognized overnight courier
service, addressed to the Company, at the address set forth above, or such other facsimile number, email or other address as the Company
may specify for such purposes by notice to the Holder delivered in accordance with this Section 7(a). Any and all notices or other
communications or deliveries to be provided by the Company hereunder shall be in writing and delivered personally, by facsimile, by email
or sent by a nationally recognized overnight courier service addressed to each Holder at the facsimile number, email or other address
of the Holder appearing on the books of the Company, or if no such facsimile number, email or other address appears on the books of the
Company, at the principal place of business of such Holder, as set forth in the Purchase Agreement, with a copy to counsel of the Holder
as set forth in the Purchase Agreement. Any notice or other communication or deliveries hereunder shall be deemed given and effective
on the earliest of (i) the date of transmission, if such notice or communication is delivered via facsimile or via email prior to
12:00 p.m. (New York City time) on any date, (ii) the next Trading Day after the date of transmission, if such notice or communication
is delivered via facsimile or via email on a day that is not a Trading Day or later than 12:00 p.m. (New York City time) on any Trading
Day, (iii) the second Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service
or (iv) upon actual receipt by the party to whom such notice is required to be given.

 

(b)            Absolute
Obligation. Except as expressly provided herein, no provision of this Note shall alter or impair the obligation of the Company, which
is absolute and unconditional, to pay the principal of, liquidated damages and accrued interest, as applicable, on this Note at the time,
place, and rate, and in the coin or currency, herein prescribed. This Note is a direct debt obligation of the Company.

 

(c)            Lost
or Mutilated Note. If this Note shall be mutilated, lost, stolen or destroyed, the Company shall execute and deliver, in exchange
and substitution for and upon cancellation of a mutilated Note, or in lieu of or in substitution for a lost, stolen or destroyed Note,
a new Note for the principal amount of this Note so mutilated, lost, stolen or destroyed, but only upon receipt of evidence of such loss,
theft or destruction of such Note, and of the ownership hereof, reasonably satisfactory to the Company.

 

(d)            Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Note shall be governed by and construed
and enforced in accordance with the internal laws of the State of Delaware, without regard to the principles of conflict of laws thereof.
Each party agrees that all legal proceedings concerning the interpretation, enforcement and defense of the transactions contemplated by
any of the Transaction Documents (whether brought against a party hereto or its respective Affiliates, directors, officers, shareholders,
employees or agents) shall be commenced in the federal courts sitting in the State of Delaware (the “Delaware Courts”).
Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the Delaware Courts for the adjudication of any dispute
hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement
of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim
that it is not personally subject to the jurisdiction of such Delaware Courts, or such Delaware Courts are improper or inconvenient venue
for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served in any such
suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery)
to such party at the address in effect for notices to it under this Note and agrees that such service shall constitute good and sufficient
service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any
other manner permitted by applicable law. Each party hereto hereby irrevocably waives, to the fullest extent permitted by applicable law,
any and all right to trial by jury in any legal proceeding arising out of or relating to this Note or the transactions contemplated hereby.
If any party shall commence an action or proceeding to enforce any provisions of this Note, then the prevailing party in such action or
proceeding shall be reimbursed by the other party for its attorney’s fees and other costs and expenses incurred in the investigation,
preparation and prosecution of such action or proceeding.

 

    	 	Ex A-15	 

     

    

 

(e)            Waiver.
Any waiver by the Company or the Holder of a breach of any provision of this Note shall not operate as or be construed to be a waiver
of any other breach of such provision or of any breach of any other provision of this Note. The failure of the Company or the Holder to
insist upon strict adherence to any term of this Note on one or more occasions shall not be considered a waiver or deprive that party
of the right thereafter to insist upon strict adherence to that term or any other term of this Note on any other occasion. Any waiver
by the Company or the Holder must be in writing.

 

(f)            Severability.
If any provision of this Note is invalid, illegal or unenforceable, the balance of this Note shall remain in effect, and if any provision
is inapplicable to any Person or circumstance, it shall nevertheless remain applicable to all other Persons and circumstances. If it shall
be found that any interest or other amount deemed interest due hereunder violates the applicable law governing usury, the applicable rate
of interest due hereunder shall automatically be lowered to equal the maximum rate of interest permitted under applicable law. The Company
covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim
or take the benefit or advantage of, any stay, extension or usury law or other law which would prohibit or forgive the Company from paying
all or any portion of the principal of or interest on this Note as contemplated herein, wherever enacted, now or at any time hereafter
in force, or which may affect the covenants or the performance of this Note, and the Company (to the extent it may lawfully do so) hereby
expressly waives all benefits or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or
impede the execution of any power herein granted to the Holder, but will suffer and permit the execution of every such as though no such
law has been enacted.

 

(g)            Remedies,
Characterizations, Other Obligations, Breaches and Injunctive Relief. The remedies provided in this Note shall be cumulative and in
addition to all other remedies available under this Note and any of the other Transaction Documents at law or in equity (including a decree
of specific performance and/or other injunctive relief), and nothing herein shall limit the Holder’s right to pursue actual and
consequential damages for any failure by the Company to comply with the terms of this Note. The Company covenants to the Holder that there
shall be no characterization concerning this instrument other than as expressly provided herein. Amounts set forth or provided for herein
with respect to payments, conversion and the like (and the computation thereof) shall be the amounts to be received by the Holder and
shall not, except as expressly provided herein, be subject to any other obligation of the Company (or the performance thereof). The Company
acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder and that the remedy at law for
any such breach may be inadequate. The Company therefore agrees that, in the event of any such breach or threatened breach, the Holder
shall be entitled, in addition to all other available remedies, to an injunction restraining any such breach or any such threatened breach,
without the necessity of showing economic loss and without any bond or other security being required. The Company shall provide all information
and documentation to the Holder that is requested by the Holder to enable the Holder to confirm the Company’s compliance with the
terms and conditions of this Note.

 

(h)            Next
Business Day. Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment shall
be made on the next succeeding Business Day.

 

    	 	Ex A-16	 

     

    

 

(i)            Headings.
The headings contained herein are for convenience only, do not constitute a part of this Note and shall not be deemed to limit or affect
any of the provisions hereof.

 

*********************

 

(Signature Pages Follow)

 

    	 	Ex A-17	 

     

    

 

IN WITNESS WHEREOF, the Company
has caused this Note to be duly executed by a duly authorized officer as of the date first above indicated.

 

	 	CorpHousing Group Inc.
	 	 
	 	 	 
	 	By:	    
	 	 	Name:   	Brian Ferdinand
	 	 	Title:	Chief Executive Officer

 

Email address for delivery of Notices: brian@corphousinggroup.com

 

    	 	Ex A-18	 

     

    

 

ANNEX A

 

NOTICE OF CONVERSION

 

The undersigned hereby elects
to convert principal and interest under the 15% OID Senior Secured Convertible Promissory Notes due May 27, 2023 of CorpHousing Group
Inc. (the “Company”), into shares of its common stock (the “Common Stock”), according to the conditions
hereof, as of the date written below. If shares of Common Stock are to be issued in the name of a person other than the undersigned, the
undersigned will pay all transfer taxes payable with respect thereto and is delivering herewith such certificates and opinions as reasonably
requested by the Company in accordance therewith. No fee will be charged to the holder for any conversion, except for such transfer taxes,
if any.

 

By the delivery of this Notice
of Conversion the undersigned represents and warrants to the Company that its ownership of the Common Stock does not exceed the amounts
specified under Section 4 of this Note, as determined in accordance with Section 13(d) of the Exchange Act.

 

The undersigned agrees to
comply with the prospectus delivery requirements under the applicable securities laws in connection with any transfer of the aforesaid
shares of Common Stock.

 

Conversion calculations:

 

Date to Effect Conversion:______________________________________

 

Principal Amount of Note to be Converted:________________________

 

Payment of Interest in Common Stock __ yes __
no

 

If yes, $_____ of Interest Accrued on Account
of Conversion at Issue.

 

Number of shares of Common Stock to be issued:___________________

 

	 	 
	Signature	 

 

	 	 
	Name	 

 

	Delivery Instructions:	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

    	 	Ex A-19	 

     

    

 

Schedule 1

 

CONVERSION SCHEDULE

 

This 15% OID Senior Secured
Convertible Promissory Notes due May 27, 2023 in the original principal amount of $1,725,000 is issued by CorpHousing Group Inc.
(the “Company”). This Conversion Schedule reflects conversions made under Section 4 of the above referenced Note.

 

Dated:

 

	
	 

                                                                                Date of Conversion
 (or for first entry, 
 Original Issue Date)
	Amount of Conversion	Aggregate Principal 
 Amount Remaining
 Subsequent to
 Conversion 
 (or original Principal 
 Amount)	Company Attest
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

    	 	Ex A-20Exhibit 10.15

 

SECURITIES PURCHASE AGREEMENT

 

This Securities Purchase Agreement
(this “Agreement”) is dated as of June 30, 2022, between CorpHousing Group Inc., a Delaware corporation (the “Company”),
and each purchaser identified on the signature pages hereto (each, including its successors and assigns, a “Purchaser”
and collectively, the “Purchasers”).

 

WHEREAS, subject to the terms
and conditions set forth in this Agreement and pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities
Act”), and Rule 506 promulgated thereunder, the Company desires to issue and sell to each Purchaser, and each Purchaser,
severally and not jointly, desires to purchase from the Company, securities of the Company.

 

NOW, THEREFORE, IN CONSIDERATION
of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are
hereby acknowledged, the Company and each Purchaser agree as follows:

 

ARTICLE I. 

DEFINITIONS

 

1.1           Definitions.
In addition to the terms defined elsewhere in this Agreement: (a) capitalized terms that are not otherwise defined herein have the
meanings given to such terms in the Notes (as defined herein), and (b) the following terms have the meanings set forth in this Section 1.1:

 

“Acquiring Person”
shall have the meaning ascribed to such term in Section 4.7.

 

“Action”
shall have the meaning ascribed to such term in Section 3.1(j).

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control
with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Amendment to Existing
SPA” means Amendment No. 1 to the Securities Purchase Agreement dated the date hereof between the Company and the Purchasers,
substantially in the form of Exhibit F hereto.

 

“Amendment to Registration
Rights Agreement” means Amendment No. 1 to Registration Rights Agreement dated the date hereof between the Company and
the Purchasers, substantially in the form of Exhibit C hereto.

 

“Amendment to Security
Agreement” means Amendment No. 1 to Guaranty and Security Agreement dated the date hereof among the Company and its subsidiaries
and Greenle Partners LLC, as secured party, substantially in the form of Exhibit E hereto.

 

“Behome Property”
means the real property that is leased or subleased to the Company or an Affiliate of the Company known as The Behome located at 765 8th
Avenue, New York, New York.

 

“Board of Directors”
means the board of directors of the Company.

 

“Business Day”
means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking
institutions in the State of New York are authorized or required by law or other governmental action to close.

 

     

     

    

 

“Certificate of Designation”
means a Certificate of Designations, Preferences and Rights of a series of convertible preferred stock of the Company, substantially in
the form of Exhibit F hereto.

 

“Closing Date”
means, with respect to each Closing, the Business Day on which all of the Transaction Documents have been executed and delivered by the
applicable parties thereto in connection with such Closing, and all conditions precedent to (i) the Purchasers’ obligations
to pay the Subscription Amount and (ii) the Company’s obligations to deliver the Securities as to such Closing, in each case,
have been satisfied or waived.

 

“Closing”
means each closing of the purchase and sale of the Securities pursuant to Section 2.1.

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common Stock”
means the common stock, par value $0.00001 per share, of the Company and any other class of securities into which such securities may
hereafter be reclassified or changed.

 

“Common Stock Equivalents”
means any securities of the Company or the Subsidiaries that would entitle the holder thereof to acquire at any time shares of Common
Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible
into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, shares of Common Stock.

 

“Company Counsel”
means Graubard Miller, with offices located at 405 Lexington Avenue, New York, New York 10174.

 

“Conversion Price”
shall have the meaning ascribed to such term in the Notes.

 

“Conversion Shares”
means, collectively, the shares of Common Stock issuable upon conversion of the Notes or any Preferred Shares.

 

“DC
Property” means the real property that is leased or subleased to the Company or an Affiliate of the Company known as Georgetown
Suites Harbour located at 1000 29th St NW Washington DC.

 

“Disclosure Schedules”
shall have the meaning ascribed to such term in Section 3.1.

 

“Evaluation Date”
shall have the meaning ascribed to such term in Section 3.1(r).

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Exempt Issuance”
means the issuance of (a) shares of Common Stock or options to employees, officers, directors or consultants of the Company pursuant
to the Company’s existing stock option and/or restricted stock plans or stock option and/or restricted stock plans which come into
effect following the date hereof, (b) securities upon the exercise or exchange of or conversion of any Securities issued hereunder
and/or other securities exercisable or exchangeable for or convertible into shares of Common Stock, issued and outstanding on the date
of this Agreement, or pursuant to other agreements of the Company existing prior to the date hereof and listed on Schedule 3.1(g),
provided that such securities and/or agreements have not been amended since the date of this Agreement to increase the number of such
securities or to decrease the exercise price, exchange price or conversion price of such securities, (c) securities issued pursuant
to acquisitions or strategic transactions approved by a majority of the disinterested directors of the Company, but shall not include
a transaction in which the Company is issuing securities primarily for the purpose of raising capital or to an entity whose primary business
is investing in securities, and (d) the issuance of securities in the IPO.

 

    2

    

    

 

“Existing Notes”
means the 15% OID Senior Secured Convertible Promissory Note due May 27, 2023 in the original principal amount of $1,725,000 issued
by the Company to Evergreen Capital Management LLC on May 27, 2022, and any promissory notes issued upon registration of transfer
thereof or in exchange therefor.

 

“Existing SPA”
means the Securities Purchase Agreement dated as of May 27, 2022 between the Company and the original purchaser of the Existing Notes,
as amended or supplemented from time to time.

 

“Existing Warrants”
means the Warrants dated May 27, 2022 issued pursuant to the Existing SPA to the original purchaser of the Existing Notes, and any
warrants issued upon registration of transfer thereof.

 

“FCPA” means
the Foreign Corrupt Practices Act of 1977, as amended.

 

“GAAP” shall
have the meaning ascribed to such term in Section 3.1(h).

 

“Intellectual Property
Rights” shall have the meaning ascribed to such term in Section 3.1(o).

 

“IPO” means
the consummation of the first underwritten public offering of Common Stock under the Securities Act.

 

“Legend Removal Date”
shall have the meaning ascribed to such term in Section 4.1(c).

 

“Liens” means
a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

 

“Lock-up Period”
shall mean the 90-day period commencing on the closing date of the IPO.

 

“Material Adverse Effect”
shall have the meaning assigned to such term in Section 3.1(b).

 

“Material Permits”
shall have the meaning ascribed to such term in Section 3.1(m).

 

“Maximum Rate”
shall have the meaning ascribed to such term in Section 5.17.

 

“Notes” shall
mean all of the Notes issued or issuable pursuant to this Agreement, substantially in the form of Exhibit A hereto.

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company,
joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

    3

    

    

 

“Preferred Shares”
means the shares of preferred stock, par value $0.00001 per share, of the Company issued pursuant to the Certificate of Designation in
connection with an exchange effected pursuant to Section 4.28, and any other class of securities into which such securities may hereafter
be reclassified or changed.

 

“Proceeding”
means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial proceeding,
such as a deposition), whether commenced or threatened.

 

“Property”
means the Behome Property, the DC Property (so long as the Purchasers do not exercise their option to replace the DC Property with the
Tillary Property pursuant to Section 5.1(d)), the Tillary Property (if the Closing of the Third Tranche is effected or the Purchasers
exercise their option to replace the DC Property with the Tillary Property pursuant to Section 5.1(d)), and each other hotel property
that is a replacement property as provided in Section 5.1 or that the Company and the Purchasers shall agree in writing is a “Property”
for purposes of Section 5.1, including the provisions of Section 5.1(f).

 

“Public Information
Failure” shall have the meaning ascribed to such term in Section 4.3(b).

 

“Public Information
Failure Payments” shall have the meaning ascribed to such term in Section 4.3(b).

 

“Purchaser Party”
shall have the meaning ascribed to such term in Section 4.10.

 

“Registration Rights
Agreement” means the Registration Rights Agreement dated as of May 27, 2022 between the Company and the holder of the Existing
Notes, as amended on the date hereof by the Amendment to Registration Rights Agreement and as further amended or supplemented from time
to time.

 

“Required Approvals”
shall have the meaning ascribed to such term in Section 3.1(e).

 

“Required Minimum”
means, as of any date, 300% of the maximum aggregate number of shares of Common Stock then issued or potentially issuable in the future
pursuant to the Transaction Documents, including any Conversion Shares issuable upon conversion in full of all of the Notes and any Warrant
Shares issuable upon exercise in full of all of the Warrants, ignoring any conversion limits set forth therein.

 

“Revenue Share”
shall have the meaning ascribed to such term in Section 5.1.

 

“Rule 144”
means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from
time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect
as such Rule.

 

“Rule 424”
means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from
time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect
as such Rule.

 

“Rule 415”
means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from
time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect
as such Rule.

 

“Securities”
means the Notes, the Preferred Shares, if issued, the Conversion Shares, the Warrants and the Warrant Shares.

 

    4

    

    

 

“Securities Act”
means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Security Agreement”
means the Guaranty and Security Agreement dated as of May 27, 2022 between the Company and the holder of the Existing Notes, as amended
on the date hereof by the Amendment to Security Agreement and as further amended or supplemented from time to time.

 

“Short Sales”
means all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall not be deemed to include
the location and/or reservation of borrowable shares of Common Stock).

 

“Subscription Amount”
shall mean, as to each Purchaser, the aggregate amount to be paid for the Notes and Warrants purchased hereunder as specified below such
Purchaser’s name under the heading “Subscription Amount,” on the signature page hereto
executed by such Purchaser, which amount in United States dollars and in immediately available funds.

 

“Subsidiary”
means any subsidiary of the Company as set forth on Schedule 3.1(a) and shall, where applicable, also include any direct or
indirect subsidiary of the Company formed or acquired after the date hereof.

 

“Tillary Property”
means the real property that is leased or subleased to the Company or an Affiliate of the Company known as The Tillary located at 85 Flatbush
Avenue Extension, Brooklyn, New York 11201.

 

“Trading Day”
means a day on which the principal Trading Market is open for trading.

 

“Trading Market”
means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the
NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange, the
OTC Bulletin Board or the OTC Markets (or any successors to any of the foregoing).

 

“Transaction Documents”
means this Agreement, the Notes, the Warrants, the Registration Rights Agreement, the Security Agreement, the Transfer Agent Instruction
Letter, all exhibits and schedules thereto and hereto and any other documents or agreements executed in connection with the transactions
contemplated hereunder.

 

“Transfer Agent” means Continental
Stock Transfer & Trust Company, the current transfer agent of the Company, with a mailing address of 1 State Street, 30th
Floor, New York, New York 10004-1561, and any successor transfer agent of the Company.

 

“Transfer Agent Instruction
Letter” means the letter from the Company to the Transfer Agent which instructs the Transfer Agent to issue shares of Common
Stock upon conversion of the Notes and the exercise of the Warrants, substantially in the form of Exhibit D attached hereto.

 

    5

    

    

 

“VWAP” means,
for or as of any date, the dollar volume-weighted average price for such security on the Trading Market (or, if the Trading Market is
not the principal trading market for such security, then on the principal securities exchange or securities market on which such security
is then traded) during the period beginning at 9:30:01 a.m., New York time, and ending at 4:00:00 p.m., New York time, as reported by
Bloomberg through its “HP” function (set to weighted average) or, if the foregoing does not apply, the dollar volume-weighted
average price of such security in the over-the-counter market on the electronic bulletin board for such security during the period beginning
at 9:30:01 a.m., New York time, and ending at 4:00:00 p.m., New York time, as reported by Bloomberg, or, if no dollar volume-weighted
average price is reported for such security by Bloomberg for such hours, the average of the highest closing bid price and the lowest closing
ask price of any of the market makers for such security as reported in the “pink sheets” by OTC Markets Group Inc. (formerly
Pink Sheets LLC). If the VWAP cannot be calculated for such security on such date on any of the foregoing bases, the VWAP of such security
on such date shall be the fair market value as mutually determined by the Company and the Holder. All such determinations shall be appropriately
adjusted for any stock dividend, stock split, stock combination, recapitalization or other similar transaction during such period.

 

“Warrant Amount”
means, with respect to any Closing, an amount equal to one hundred percent (100%) of the aggregate principal amount of Notes purchased
by the Purchasers at such Closing divided by the initial Conversion Price of such Notes.

 

“Warrants”
shall mean all of the Warrants issued or issuable pursuant to this Agreement, substantially in the form of Exhibit B hereto.

 

“Warrant Shares”
means, collectively, the shares of Common Stock issuable upon exercise of the Warrants.

 

ARTICLE II. 

PURCHASE AND SALE

 

2.1           Closing.
The Purchasers may, subject to the terms and conditions hereof, purchase an aggregate of up to $5,000,000 in aggregate Subscription Amount
of Notes and Warrants (to purchase an aggregate of $5,750,000 principal amount of Notes and Warrants to purchase shares of Common Stock,
in one or more tranches (each a “Tranche”), with the first Tranche of $700,000 in Subscription Amount of Notes (to
purchase an aggregate of $805,000 in principal amount of Notes) and Warrants to purchase an aggregate of number of shares of Common Stock
equal to the Warrant Amount for such Closing, being closed within three (3) Business Days of the date on which the Company delivers
to the Purchasers evidence that the conditions to Section 2.2(vii) can be satisfied. The Closing for the second Tranche of $1,000,000
in Subscription Amount of Notes (to purchase an aggregate of $1,150,000 in principal amount of Notes) and Warrants to purchase an aggregate
of number of shares of Common Stock equal to the Warrant Amount for such Closing, shall occur within three (3) Business Days of the
date on which the Company delivers to the Purchasers evidence that the conditions to Section 2.2(viii) can be satisfied. The
Closing for the third Tranche of $700,000 in Subscription Amount of Notes (to purchase an aggregate of $805,000 in principal amount of
Notes) and Warrants to purchase an aggregate of number of shares of Common Stock equal to the Warrant Amount for such Closing, shall occur,
at the election of the Purchasers, within three (3) Business Days of the date on which the Company delivers to the Purchasers evidence
that the conditions to Section 2.2(ix) can be satisfied. The Closing for each additional Tranche, if any, will occur, at the
mutual election of the Company and the Purchasers, at such time or times as the Company and the Purchasers shall agree. Notwithstanding
the election of the Purchasers to proceed with the Closing of the third Tranche or the mutual election of the Company and the Purchasers
to proceed to any additional Closing, the Purchasers shall not be required to fund any additional Tranche if the Company is then in default
under the terms of this Agreement or the Notes or if the conditions to such Closing in Section 2.3(b) are not then satisfied.
At each Closing, each Purchaser shall purchase its Subscription Amount of the Notes for such Closing
(as set forth on the signature page hereto executed by such Purchaser, as such signature page may be supplemented or amended)
and shall deliver to the Company, via wire transfer or a certified check, immediately available funds equal to such Purchaser’s
Subscription Amount for such Closing, and the Company shall deliver to each Purchaser its respective Notes and Warrants for such Closing
(as set forth on the signature page hereto executed by such Purchaser, as such signature page may be supplemented or amended),
and the Company and each Purchaser shall deliver the other items set forth in Section 2.3 deliverable at such Closing. Upon
satisfaction of the covenants and conditions set forth in Sections 2.3 and 2.4 for the applicable Closing, the Closing shall
occur at the offices of the Purchaser’s counsel or such other location as the parties shall mutually agree.

 

    6

    

    

 

2.2           Deliveries.

 

(a)           On
or prior to each Closing Date (or as otherwise indicated below), the Company shall deliver or cause to be delivered to each Purchaser
the following:

 

(i)            at
the Closing of the first Tranche, this Agreement duly executed by the Company;

 

(ii)           at
the Closing of the first Tranche, the Transfer Agent Instruction Letter with respect to (a) the Conversion Shares and Warrant Shares
issuable in respect to the Notes and Warrants to be issued at such Closing and (b) the shares of Common Stock underlying the Existing
Notes and the Existing Warrants, duly executed by the Company and the Transfer Agent, and at each subsequent Closing, evidence satisfactory
to the Purchasers that the number of shares of Common Stock reserved for issuance under the Transfer Agent Instruction Letter has been
sufficiently increased to give effect to the Notes and Warrants to be issued by the Company at such Closing;

 

(iii)           at
the Closing of the first Tranche, the Amendment to the Existing SPA, the Amendment to Registration Rights Agreement and the Amendment
to Security Agreement, each duly executed by the Company and the Subsidiaries of the Company, as applicable;

 

(iv)           at
each Closing, an executed Note in the principal amount equal to the principal amount of Notes to be purchased by such Purchaser at such
Closing as set forth on the signature page hereto executed by such Purchaser;

 

(v)           at
each Closing, an executed Warrant to purchase the number of shares of Common Stock to be purchased by such Purchaser at such Closing as
set forth on the signature page hereto executed by such Purchaser;

 

(vi)          at
the Closing of the first Tranche, the Disclosure Schedules of the Company;

 

(vii)         at
the Closing of the first Tranche, an executed copy of the Company’s lease for the Behome Property;

 

(viii)        at
the Closing of the second Tranche, an executed copy of the Company’s lease for the DC Property;

 

(ix)           at
the Closing of the third Tranche, (x)  an executed copy of the Company’s lease for the Tillary Property and (y) evidence
satisfactory to the Purchasers of court approval of such lease; and

 

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(x)           at
each Closing, an officers’ certificate executed by the Chief Executive Officer and the Chief Financial Officer of the Company certifying
that the representations and warranties of the Company set forth herein are true and correct as of such Closing Date and that the Company
has complied with all obligations, covenants and agreements of the Company set forth herein on or prior to such Closing Date, or a bring
down letter of such officers relating to the same in a form reasonably acceptable to the Purchasers.

 

(b)           On
or prior to each Closing Date, each Purchaser shall deliver or cause to be delivered to the Company, as applicable, the following:

 

(i)             at
the Closing of the first Tranche, this Agreement duly executed by such Purchaser;

 

(ii)           at
the Closing of the first Tranche, the Amendment to the Existing SPA, the Amendment to Registration Rights Agreement and the Amendment
to Security Agreement, each duly executed by such Purchaser and the Greenle Partners LLC, as collateral agent;

 

(iii)           such
Purchaser’s Subscription Amount for such Closing as set forth on the signature page hereto
executed by such Purchaser, by wire transfer to the account specified in writing by the Company; and

 

(iv)           if
such Purchaser is not currently a party to this Agreement, a joinder agreement to this Agreement duly executed by such Purchaser pursuant
to which such Purchaser shall become a party to this Agreement.

 

2.3           Closing
Conditions.

 

(a)           The
obligations of the Company hereunder in connection with each Closing are subject to the following conditions being met:

 

(i)           the
accuracy in all material respects on the applicable Closing Date of the representations and warranties of the Purchasers contained herein
(unless as of a specific date therein in which case they shall be accurate as of such date);

 

(ii)           all
obligations, covenants and agreements of each Purchaser required to be performed at or prior to the applicable Closing Date shall have
been performed; and

 

(iii)           the
delivery by each Purchaser of the required items set forth in Section 2.2(b) of this Agreement.

 

(b)           The
respective obligations of the Purchasers hereunder in connection with each Closing are subject to the following conditions being met:

 

(i)           the
accuracy in all material respects when made and on the applicable Closing Date of the representations and warranties of the Company contained
herein (unless as of a specific date therein);

 

(ii)           all
obligations, covenants and agreements of the Company required to be performed at or prior to the applicable Closing Date shall have been
performed;

 

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(iii)           the
delivery by the Company of the required items set forth in Section 2.2(a) of this Agreement; and

 

(iv)           there
shall have been no Material Adverse Effect with respect to the Company since the date hereof; and

 

(v)           from
the date hereof to the applicable Closing Date, at any time prior to the applicable Closing Date, trading in securities generally as reported
by Bloomberg L.P. shall not have been suspended or limited, or minimum prices shall not have been established on securities whose trades
are reported by such service, or on any Trading Market, nor shall a banking moratorium have been declared either by the United States
or New York State authorities nor shall there have occurred any material outbreak or escalation of hostilities or other national or international
calamity of such magnitude in its effect on, or any material adverse change in, any financial market which, in each case, in the reasonable
judgment of such Purchaser, makes it impracticable or inadvisable to purchase the Securities at such Closing.

 

ARTICLE III. 

REPRESENTATIONS AND WARRANTIES

 

3.1           Representations
and Warranties of the Company. Except as set forth in the disclosure schedules of the Company delivered to the Purchasers at the Closing
(the “Disclosure Schedules”), which Disclosure Schedules shall be deemed a part hereof and shall qualify any representation
made herein to the extent of the disclosure contained in the corresponding section of the Disclosure Schedules, the Company hereby makes
the following representations and warranties to each Purchaser:

 

(a)           Subsidiaries.
All of the direct and indirect subsidiaries of the Company are set forth in Amendment No. 4 to the Company’s Registration Statement
on Form S-1 (Registration No. 333-262114) (as so amended, the “Registration Statement”), including under the heading
therein entitled “Certain Corporate Information and Definitions” and on Exhibit 21 to the Registration Statement. The
Company owns, directly or indirectly, all of the capital stock or other equity interests of each Subsidiary free and clear of any Liens,
other than the Liens securing the Existing Notes, and all of the issued and outstanding shares of capital stock of each Subsidiary are
validly issued and are fully paid, non-assessable and free of preemptive and similar rights to subscribe for or purchase securities. If
the Company has no subsidiaries, all other references to the Subsidiaries or any of them in the Transaction Documents shall be disregarded.

 

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(b)           Organization
and Qualification. The Company and each of the Subsidiaries is an entity duly incorporated or otherwise organized, validly existing
and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite power and authority to
own and use its properties and assets and to carry on its business as currently conducted. Neither the Company nor any Subsidiary is in
violation nor default of any of the provisions of its respective certificate or articles of incorporation, bylaws or other organizational
or charter documents. Each of the Company and the Subsidiaries is duly qualified to conduct business and is in good standing as a foreign
corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification
necessary, except where the failure to be so qualified or in good standing, as the case may be, could not have or reasonably be expected
to result in: (i) a material adverse effect on the legality, validity or enforceability of any Transaction Document, (ii) a
material adverse effect on the results of operations, assets, business, prospects or condition (financial or otherwise) of the Company
and the Subsidiaries, taken as a whole, or (iii) a material adverse effect on the Company’s ability to perform in any material
respect on a timely basis its obligations under any Transaction Document (any of (i), (ii) or (iii), a “Material Adverse
Effect”) and no Proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke,
limit or curtail such power and authority or qualification. Notwithstanding the foregoing, for purposes of this Agreement, “Material
Adverse Effect” shall not include any event, occurrence, fact, condition or change, directly or indirectly, arising out of or attributable
to: (A) general economic or political conditions; (B) conditions generally affecting the industries in which the Company operates;
(C) any changes in financial, banking or securities markets in general, including any disruption thereof and any decline in the price
of any security or any market index or any change in prevailing interest rates; (D) acts of war (whether or not declared), armed
hostilities or terrorism, or the escalation or worsening thereof; (E) any action required or permitted by this Agreement or any action
taken (or omitted to be taken) with the written consent of or at the written request of the Purchasers; (F) any changes in applicable
laws or accounting rules (including GAAP (as defined below)) or the enforcement, implementation or interpretation thereof; (G) the
announcement, pendency or completion of the transactions contemplated by this Agreement; (H) any natural or man-made disaster or
acts of God; or (I) any failure by any Company to meet any internal or published projections, forecasts or revenue or earnings predictions
(provided that the underlying causes of such failures (subject to the other provisions of this definition) shall not be excluded).

 

(c)           Authorization;
Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated
by this Agreement and each of the other Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The
execution and delivery of this Agreement and each of the other Transaction Documents by the Company and the consummation by it of the
transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company and no further
action is required by the Company, the Board of Directors or the Company’s stockholders in connection herewith or therewith other
than in connection with the Required Approvals. This Agreement and each other Transaction Document to which it is a party has been (or
upon delivery will have been) duly executed by the Company and, when delivered in accordance with the terms hereof and thereof, will constitute
the valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except: (i) as limited
by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application
affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance,
injunctive relief or other equitable remedies, and (iii) insofar as indemnification and contribution provisions may be limited by
applicable law.

 

(d)           No
Conflicts. The execution, delivery and performance by the Company of this Agreement and the other Transaction Documents to which it
is a party, the issuance and sale of the Securities and the consummation by it of the transactions contemplated hereby and thereby do
not and will not: (i) except as set forth on Schedule 3.1(d) hereto, conflict with or violate any provision of the Company’s
or any Subsidiary’s certificate or articles of incorporation, bylaws or other organizational or charter documents, (ii) conflict
with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, result in the creation
of any Lien upon any of the properties or assets of the Company or any Subsidiary, or give to others any rights of termination, amendment,
acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument
(evidencing a Company or Subsidiary debt or otherwise) or other understanding to which the Company or any Subsidiary is a party or by
which any property or asset of the Company or any Subsidiary is bound or affected, or (iii) subject to the Required Approvals, conflict
with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental
authority to which the Company or a Subsidiary is subject (including federal and state securities laws and regulations), or by which any
property or asset of the Company or a Subsidiary is bound or affected; except in the case of each of clauses (ii) and (iii), such
as could not have or reasonably be expected to result in a Material Adverse Effect.

 

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(e)           Filings,
Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice to,
or make any filing or registration with, any court or other federal, state, local or other governmental authority or other Person in connection
with the execution, delivery and performance by the Company of the Transaction Documents, other than: (i) the filings required pursuant
to Section 4.6 of this Agreement, and (ii) the filing of a Form D with the Commission and such filings as are required
to be made under applicable state securities laws (collectively, the “Required Approvals”).

 

(f)           Issuance
of the Securities. The Conversion Shares and the Warrant Shares, when issued in accordance with the terms of the Transaction Documents,
will be validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company other than restrictions on transfer
provided for in the Transaction Documents. The Company has reserved from its duly authorized capital stock 3,910,000 shares of Common
Stock for issuance of the Conversion Shares and the Warrant Shares relating to the conversion or exercise of the Notes and Warrants issued
in connection with the closings of the first two Tranches hereunder, which number of shares shall be promptly adjusted upon consummation
of the closing or each additional Tranche hereunder, if any, or the IPO or any other event affecting the applicable conversion or exercise
prices of the Notes or the Warrants.

 

(g)           Capitalization.
Except for the Existing Notes and the Existing Warrants, the capitalization of the Company is as set forth in the Registration Statement,
including under the heading therein entitled “Prospectus Summary – The Offering” and the footnotes thereto, with the
number of shares of Common Stock owned beneficially, and of record, by Affiliates of the Company as of the date hereof described in the
Registration Statement under the heading therein entitled “Principal Stockholders.” Except as set forth in the Existing SPA,
no Person has any right of first refusal, preemptive right, right of participation, or any similar right to participate in the transactions
contemplated by the Transaction Documents. Except as described in the Registration Statement and except as a result of the purchase and
sale of the Existing Notes, the Existing Warrants and the Securities, there are no outstanding options, warrants, scrip rights to subscribe
to, calls or commitments of any character whatsoever relating to, or securities, rights or obligations convertible into or exercisable
or exchangeable for, or giving any Person any right to subscribe for or acquire any shares of Common Stock, or contracts, commitments,
understandings or arrangements by which the Company or any Subsidiary is or may become bound to issue additional shares of Common Stock
or Common Stock Equivalents. The issuance and sale of the Securities will not obligate the Company to issue shares of Common Stock or
other securities to any Person (other than the Purchasers) and will not result in a right of any holder of Company securities to adjust
the exercise, conversion, exchange or reset price under any of such securities. All of the outstanding shares of capital stock of the
Company are duly authorized, validly issued, fully paid and nonassessable, have been issued in compliance with all federal and state securities
laws, and none of such outstanding shares was issued in violation of any preemptive rights or similar rights to subscribe for or purchase
securities. No further approval or authorization of any stockholder, the Board of Directors or others is required for the issuance and
sale of the Securities. There are no stockholders agreements, voting agreements or other similar agreements with respect to the Company’s
capital stock to which the Company is a party or, to the knowledge of the Company, between or among any of the Company’s stockholders.

 

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(h)           Financial
Statements. The Company is not and since its incorporation never has been a “shell” company as defined in Section 405
of the Securities Act and is not required to file reports with the SEC under the Exchange Act. The financial statements of the Company
(the “Financial Statements”) included in Registration Statement have been prepared in accordance with United States
generally accepted accounting principles applied on a consistent basis during the periods involved (“GAAP”), except
as may be otherwise specified in such financial statements or the notes thereto and except that unaudited financial statements may not
contain all footnotes required by GAAP, and fairly present in all material respects the financial position of the Company and its consolidated
Subsidiaries as of and for 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, immaterial, year-end audit adjustments.

 

(i)            Material
Changes; Undisclosed Events, Liabilities or Developments. Since the date of the latest balance sheet included in the Financial Statements,
except as specifically disclosed in the Registration Statement, including under the heading therein entitled “Prospectus Summary
 – Recent Developments’ or Schedule 3(i) hereto: (i) there has been no event, occurrence or development that has
had or that could reasonably be expected to result in a Material Adverse Effect, (ii) the Company has not incurred any liabilities
(contingent or otherwise) other than (A) trade payables, letters of credit relating to accommodation unit properties, and accrued
expenses incurred in the ordinary course of business consistent with past practice, (B) liabilities not required to be reflected
in the Company’s financial statements pursuant to GAAP and (C) the Existing Notes, (iii) the Company has not altered its
method of accounting, (iv) the Company has not declared or made any dividend or distribution of cash or other property to its stockholders
or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock, and (v) the Company has not
issued any equity securities to any officer, director or Affiliate, except pursuant to existing Company stock option and restricted stock
plans. Except for the transactions prescribed by this Agreement and the other agreements and documents being delivered in connection herewith
and the transactions prescribed by the Existing SPA and the other agreements and documents delivered in connection therewith , no event,
liability, fact, circumstance, occurrence or development has occurred or exists or is reasonably expected to occur or exist with respect
to the Company or its Subsidiaries or their respective businesses, properties, operations, assets or financial condition, that would be
required to be disclosed by an issuer subject to the reporting obligations of the Exchange Act at the time this representation is made
or deemed made that has not been included in Registration Statement, the Disclosure Schedules or the Financial Statements.

 

(j)            Litigation.
There is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge of the Company, threatened
against or affecting the Company, any Subsidiary or any of their respective properties before or by any court, arbitrator, governmental
or administrative agency or regulatory authority (federal, state, county, local or foreign) (collectively, an “Action”)
which (i) adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents or the Securities
or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result in a Material Adverse Effect. Except
as disclosed in the Registration Statement, neither the Company nor any Subsidiary, nor any director or officer thereof, is or has been
the subject of any Action involving a claim of violation of or liability under federal or state securities laws or a claim of breach of
fiduciary duty. There has not been, and to the knowledge of the Company, there is not pending or contemplated, any investigation by the
Commission involving the Company or any current or former director or officer of the Company. The Commission has not issued any stop order
or other order suspending the effectiveness of any registration statement filed by the Company or any Subsidiary under the Exchange Act
or the Securities Act.

 

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(k)           Labor
Relations. No labor dispute exists or, to the knowledge of the Company, is imminent with respect to any of the employees of the Company,
which could reasonably be expected to result in a Material Adverse Effect. Except as described in the Registration Statement, including
under the heading therein entitled “Business – Human Capital,” none of the Company’s or its Subsidiaries’
employees is a member of a union that relates to such employee’s relationship with the Company or such Subsidiary, and neither the
Company nor any of its Subsidiaries is a party to a collective bargaining agreement, and the Company and its Subsidiaries believe that
their relationships with their employees are good. To the knowledge of the Company, no executive officer of the Company or any Subsidiary,
is, or is now expected to be, in violation of any material term of any employment contract, confidentiality, disclosure or proprietary
information agreement or non-competition agreement, or any other contract or agreement or any restrictive covenant in favor of any third
party, and the continued employment of each such executive officer does not subject the Company or any of its Subsidiaries to any liability
with respect to any of the foregoing matters. The Company and its Subsidiaries are in compliance with all U.S. federal, state, local and
foreign laws and regulations relating to employment and employment practices, terms and conditions of employment and wages and hours,
except where the failure to be in compliance could not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect.

 

(l)            Compliance.
Neither the Company nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred that has not been waived
that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the Company or
any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture, loan or credit agreement
or any other agreement or instrument to which it is a party or by which it or any of its properties is bound (whether or not such default
or violation has been waived), (ii) is in violation of any judgment, decree or order of any court, arbitrator or other governmental
authority, or (iii) is or has been in violation of any statute, rule, ordinance or regulation of any governmental authority, including
without limitation all foreign, federal, state and local laws relating to taxes, environmental protection, occupational health and safety,
product quality and safety and employment and labor matters, except in each case as could not have or reasonably be expected to result
in a Material Adverse Effect.

 

(m)           Regulatory
Permits. The Company and the Subsidiaries possess all certificates, authorizations and permits issued by the appropriate federal,
state, local or foreign regulatory authorities necessary to conduct their respective businesses, except where the failure to possess such
permits could not reasonably be expected to result in a Material Adverse Effect (“Material Permits”), and neither the
Company nor any Subsidiary has received any notice of proceedings relating to the revocation or modification of any Material Permit.

 

(n)           Title
to Assets. The Company and the Subsidiaries have good and marketable title in fee simple to all real property owned by them and good
and marketable title in all personal property owned by them that is material to the business of the Company and the Subsidiaries, in each
case free and clear of all Liens, except for (i) Liens as do not materially affect the value of such property and do not materially
interfere with the use made and proposed to be made of such property by the Company and the Subsidiaries, (ii) Liens for the payment
of federal, state or other taxes, for which appropriate reserves have been made therefor in accordance with GAAP and, the payment of which
is neither delinquent nor subject to penalties and (iii) Liens securing the Existing Notes. Any real property and facilities held
under lease by the Company and the Subsidiaries are held by them under valid, subsisting and enforceable leases with which the Company
and the Subsidiaries are in compliance.

 

(o)           Intellectual
Property. The Company and the Subsidiaries have, or have rights to use, all patents, patent applications, trademarks, trademark applications,
service marks, trade names, trade secrets, inventions, copyrights, licenses and other intellectual property rights and similar rights
as necessary or required for use in connection with their respective businesses and which the failure to so have could have a Material
Adverse Effect (collectively, the “Intellectual Property Rights”). None of, and neither the Company nor any Subsidiary
has received a notice (written or otherwise) that any of, the Intellectual Property Rights has expired, terminated or been abandoned,
or is expected to expire or terminate or be abandoned, within two (2) years from the date of this Agreement. Neither the Company
nor any Subsidiary has received a written notice of a claim or otherwise has any knowledge that the Intellectual Property Rights violate
or infringe upon the rights of any Person, except as could not have or reasonably be expected to not have a Material Adverse Effect. To
the knowledge of the Company, all such Intellectual Property Rights are enforceable and there is no existing infringement by another Person
of any of the Intellectual Property Rights. The Company and its Subsidiaries have taken reasonable security measures to protect the secrecy,
confidentiality and value of all of their intellectual properties, except where failure to do so could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.

 

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(p)           Insurance.
The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such
amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, without limitation,
directors and officers insurance coverage at least equal to the initial Subscription Amount. Neither the Company nor any Subsidiary has
any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain
similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

 

(q)           Transactions
With Affiliates and Employees. Except as disclosed in the Registration Statement, including under the heading therein entitled “Certain
Relationships and Related Party Transactions,” or as set forth on Schedule 3.1(i), none of the officers or directors of the Company
or any Subsidiary and, to the knowledge of the Company, none of the employees of the Company or any Subsidiary is presently a party to
any transaction with the Company or any Subsidiary (other than for services as employees, officers and directors), including any contract,
agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to
or from, providing for the borrowing of money from or lending of money to or otherwise requiring payments to or from any officer, director
or such employee or, to the knowledge of the Company, any entity in which any officer, director, or any such employee has a substantial
interest or is an officer, director, trustee, stockholder, member or partner, in each case in excess of $120,000 other than for: (i) payment
of salary or consulting fees for services rendered, (ii) reimbursement for expenses incurred on behalf of the Company, and (iii) other
employee benefits, including stock option agreements under any stock option plan of the Company.

 

(r)           [Reserved.]

 

(s)           Certain
Fees. Except for fees payable by the Company to Maxim Group LLC, no brokerage or finder’s fees or commissions are or will be
payable by the Company or any Subsidiary to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank
or other Person with respect to the transactions contemplated by the Transaction Documents. The Purchasers shall have no obligation with
respect to any fees or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated in this Section that
may be due in connection with the transactions contemplated by the Transaction Documents.

 

(t)            Private
Placement. Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section 3.2, no registration
under the Securities Act is required for the offer and sale of the Securities by the Company to the Purchasers as contemplated hereby.

 

(u)           No
 “Bad Actor” Disqualification. The Company has exercised reasonable care to determine whether any Company Covered Person
(as defined below) is subject to any of the “bad actor” disqualifications described in Rule 506(d)(1)(i) through
(viii), as modified by Rules 506(d)(2) and (d)(3), under the Securities Act (“Disqualification Events”).
To the Company’s knowledge, no Company Covered Person is subject to a Disqualification Event. The Company has complied, to the extent
required, with any disclosure obligations under Rule 506(e) under the Securities Act. For purposes of this Agreement, “Company
Covered Persons” are those persons specified in Rule 506(d)(1) under the Securities Act; provided, however, that Company
Covered Persons do not include (a) any Purchaser, or (b) any person or entity that is deemed to be an affiliated issuer of the
Company solely as a result of the relationship between the Company and any Purchaser.

 

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(v)           Investment
Company. The Company is not, and is not an Affiliate of, and immediately after receipt of payment for the Securities, will not be
or be an Affiliate of, an “investment company” within the meaning of the Investment Company Act of 1940, as amended. The Company
shall conduct its business in a manner so that it will not become an “investment company” subject to registration under the
Investment Company Act of 1940, as amended.

 

(w)           Registration
Rights. Except as disclosed in the Registration Statement, no Person has any right to cause the Company to effect the registration
under the Securities Act of any securities of the Company or any Subsidiary.

 

(x)           Disclosure.
All of the disclosure furnished by or on behalf of the Company to the Purchasers regarding the Company and its Subsidiaries, their respective
businesses and the transactions contemplated hereby, including the Disclosure Schedules to this Agreement, is true and correct in all
material respects and does not contain any untrue statement of a material fact or omit to state any material fact necessary in order to
make the statements made therein, in light of the circumstances under which they were made, not misleading. The Company acknowledges and
agrees that no Purchaser makes or has made any representations or warranties with respect to the transactions contemplated hereby other
than those specifically set forth in Section 3.2 hereof.

 

(y)           No
Integrated Offering. Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section 3.2,
neither the Company, nor any of its Affiliates, nor any Person acting on its or their behalf has, directly or indirectly, made any offers
or sales of any security or solicited any offers to buy any security, under circumstances that would cause this offering of the Securities
to be integrated with prior offerings by the Company for purposes of (i) the Securities Act which would require the registration
of any such securities under the Securities Act, or (ii) any applicable shareholder approval provisions of any Trading Market on
which any of the securities of the Company are listed or designated.

 

(z)           Tax
Status. Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a Material
Adverse Effect, the Company and each of its Subsidiaries (i) has made or filed all United States federal, state and local income
and all foreign income and franchise tax returns, reports and declarations required by any jurisdiction to which it is subject as and
when due subject to any applicable extensions, (ii) has paid all taxes and other governmental assessments and charges that are material
in amount, whether or not shown or determined to be due on such returns, reports and declarations, and (iii) has set aside on its
books provision reasonably adequate for the payment of all material taxes for periods subsequent to the periods to which such returns,
reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction,
and the officers of the Company or of any Subsidiary know of no basis for any such claim.

 

(aa)         No
General Solicitation. Neither the Company nor any Person acting on behalf of the Company has offered or sold any of the Securities
by any form of general solicitation or general advertising. The Company has offered the Securities for sale only to the Purchasers and
certain other “accredited investors” within the meaning of Rule 501 under the Securities Act.

 

(bb)         Foreign
Corrupt Practices. Neither the Company nor any Subsidiary, nor any agent or other Person acting on behalf of the Company or any Subsidiary,
has: (i) directly or indirectly, used any funds for unlawful contributions, gifts, entertainment or other unlawful expenses related
to foreign or domestic political activity, (ii) made any unlawful payment to foreign or domestic government officials or employees
or to any foreign or domestic political parties or campaigns from corporate funds, (iii) failed to disclose fully any contribution
made by the Company or any Subsidiary (or made by any Person acting on its behalf of which the Company is aware) which is in violation
of law, or (iv) violated in any material respect any provision of FCPA.

 

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(cc)         Accountants.
To the knowledge and belief of the Company, the Company’s accounting firm, Grassi & Co., CPAs, P.C.: (i) is
a registered public accounting firm as required by the Exchange Act and (ii) shall express its opinion with respect to the financial
statements to be included in the Company’s registration statement to be filed for the IPO.

 

(dd)         No
Disagreements with Accountants and Lawyers. There are no disagreements of any kind presently existing, or reasonably anticipated by
the Company to arise, between the Company and the accountants and lawyers formerly or presently employed by the Company and the Company
is current with respect to any fees owed to its accountants and lawyers which could affect the Company’s ability to perform any
of its obligations under any of the Transaction Documents.

 

(ee)         Acknowledgment
Regarding Purchasers’ Purchase of Securities. The Company acknowledges and agrees that each of the Purchasers is acting solely
in the capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated thereby.
The Company further acknowledges that no Purchaser is acting as a financial advisor or fiduciary of the Company (or in any similar capacity)
with respect to the Transaction Documents and the transactions contemplated thereby and any advice given by any Purchaser or any of their
respective representatives or agents in connection with the Transaction Documents and the transactions contemplated thereby is merely
incidental to the Purchasers’ purchase of the Securities. The Company further represents to each Purchaser that the Company’s
decision to enter into this Agreement and the other Transaction Documents has been based solely on the independent evaluation of the transactions
contemplated hereby by the Company and its representatives.

 

(ff)          Acknowledgment
Regarding Purchaser’s Trading Activity. Anything in this Agreement or elsewhere herein to the contrary notwithstanding (except
for Section 4.14 hereof), it is understood and acknowledged by the Company that: (i) none of the Purchasers has been
asked by the Company to agree, nor has any Purchaser agreed, to desist from purchasing or selling, long and/or short, securities of the
Company, or “derivative” securities based on securities issued by the Company or to hold the Securities for any specified
term, (ii) past or future open market or other transactions by any Purchaser, specifically including, without limitation, Short Sales
or “derivative” transactions, before or after a closing of this or future private placement transactions, may negatively impact
the market price of the Company’s publicly-traded securities, (iii) any Purchaser, and counter-parties in “derivative”
transactions to which any such Purchaser is a party, directly or indirectly, may presently have a “short” position in the
Common Stock, and (iv) each Purchaser shall not be deemed to have any affiliation with or control over any arm’s length counter-party
in any “derivative” transaction. The Company further understands and acknowledges that (y) one or more Purchasers may
engage in hedging activities at various times during the period that the Securities are outstanding, including, without limitation, during
the periods that the value of the Conversion Shares deliverable with respect to Securities are being determined, and (z) such hedging
activities (if any) could reduce the value of the existing stockholders’ equity interests in the Company at and after the time that
the hedging activities are being conducted. The Company acknowledges that such aforementioned hedging activities do not constitute a breach
of any of the Transaction Documents.

 

(gg)         Stock
Option Plans. Except as set forth in the Registration Statement, the Company does not currently have or maintain any stock option
or other equity incentive plan for its directors, employees or consultants.

 

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(hh)         Office
of Foreign Assets Control. Neither the Company nor any Subsidiary nor any director, officer, agent, employee or affiliate of the Company
or any Subsidiary is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury
Department (“OFAC”).

 

(ii)           U.S.
Real Property Holding Corporation. The Company is not and has never been a U.S. real property holding corporation within the meaning
of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser’s request.

 

(kk)         Bank
Holding Company Act. Neither the Company nor any of its Subsidiaries or Affiliates is subject to the Bank Holding Company Act of 1956,
as amended (the “BHCA”), and to regulation by the Board of Governors of the Federal Reserve System (the “Federal
Reserve”). Neither the Company nor any of its Subsidiaries or Affiliates owns or controls, directly or indirectly, five percent
(5%) or more of the outstanding shares of any class of voting securities or twenty-five percent (25%) or more of the total equity of a
bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve. Neither the Company nor any of its Subsidiaries
or Affiliates exercises a controlling influence over the management or policies of a bank or any entity that is subject to the BHCA and
to regulation by the Federal Reserve.

 

(ll)         Money
Laundering. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance in all material
respects with applicable financial record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of
1970, as amended, applicable money laundering statutes and applicable rules and regulations thereunder (collectively, the “Money
Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency, authority or body or any
arbitrator involving the Company or any Subsidiary with respect to the Money Laundering Laws is pending or, to the knowledge of the Company
or any Subsidiary, threatened.

 

3.2           Representations
and Warranties of the Purchasers. Each Purchaser, for itself and for no other Purchaser, hereby represents and warrants as of the
date hereof and as of each Closing Date to the Company as follows (unless as of a specific date therein):

 

(a)           Organization;
Authority. Such Purchaser is either an individual or an entity duly incorporated or formed, validly existing and in good standing
under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability company
or similar power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents and otherwise
to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and performance by such
Purchaser of the transactions contemplated by the Transaction Documents have been duly authorized by all necessary corporate, partnership,
limited liability company or similar action, as applicable, on the part of such Purchaser. Each Transaction Document to which it is a
party has been duly executed by such Purchaser, and when delivered by such Purchaser in accordance with the terms hereof, will constitute
the valid and legally binding obligation of such Purchaser, enforceable against it in accordance with its terms, except: (i) as limited
by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application
affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance,
injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by
applicable law.

 

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(b)           Own
Account. Such Purchaser understands that the Securities are “restricted securities” and have not been registered under
the Securities Act or any applicable state securities law and is acquiring the Securities as principal for its own account and not with
a view to or for distributing or reselling such Securities or any part thereof in violation of the Securities Act or any applicable state
securities law, has no present intention of distributing any of such Securities in violation of the Securities Act or any applicable state
securities law and has no direct or indirect arrangement or understandings with any other persons to distribute or regarding the distribution
of such Securities in violation of the Securities Act or any applicable state securities law (this representation and warranty not limiting
such Purchaser’s right to sell the Securities in compliance with applicable federal and state securities laws). Such Purchaser is
acquiring the Securities hereunder in the ordinary course of its business.

 

(c)           Purchaser
Status. At the time such Purchaser was offered the Securities, it was, and as of the date hereof it is, and on each date on which
it converts any Notes or exercises any Warrants, it will be either: (i) an “accredited investor” as defined in Rule 501(a)(1),
(a)(2), (a)(3), (a)(7) or (a)(8) under the Securities Act or (ii) a “qualified institutional buyer” as defined
in Rule 144A(a) under the Securities Act.

 

(d)           Experience
of Such Purchaser. Such Purchaser, either alone or together with its representatives, has such knowledge, sophistication and experience
in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Securities,
and has so evaluated the merits and risks of such investment. Such Purchaser is able to bear the economic risk of an investment in the
Securities and, at the present time, is able to afford a complete loss of such investment.

 

(e)           General
Solicitation. Such Purchaser is not purchasing the Securities as a result of any advertisement, article, notice or other communication
regarding the Securities published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any
seminar or any other general solicitation or general advertisement.

 

(f)           No
 “Bad Actor” Disqualification. Neither (A) such Purchaser nor (B) any entity that controls such Purchaser or
is under the control of, or under common control with, such Person, is subject to any Disqualification Event. Such Purchaser has exercised
reasonable care to determine the accuracy of the representation made by such Purchaser in this paragraph, and agrees to notify the Company
if such Purchaser becomes aware of any fact that makes the representation given by such Purchaser hereunder inaccurate.

 

(g)           Disclosure
of Information. Purchaser acknowledges that it has had an opportunity to ask questions and receive answers from the Company regarding
the terms and conditions of the sale of the Securities and the business, properties, prospects and financial condition of the Company
and its Subsidiaries. Any questions raised by Purchaser concerning the Company and its subsidiaries or the Securities have been answered
to the satisfaction of Purchaser. Purchaser’s decision to purchase the Securities is based solely on the information obtained during
the course of Purchaser’s due diligence review and on the response to such questions as Purchaser has raised concerning the Securities
or the Company and its Subsidiaries.

 

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(h)           Unlawful
Activities. (i) No part of the funds used by Purchaser to acquire any Securities under this Agreement has been, or shall be,
directly or indirectly derived from, or related to, any activity that may contravene United States federal or state or non-United States
laws or regulations, including, without limitation, laws and regulations relating to anti-money laundering, terrorist financing and other
illegal activities; (ii) no capital commitment, contribution or payment to the Company by Purchaser and no distribution to Purchaser
shall cause the Company to be in violation of any applicable anti-money laundering laws or regulations, including, without limitation,
the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act
of 2001 and the United States Department of the Treasury Office of Foreign Assets Control (“OFAC”) regulations (the “Sanction
Regulations”); and (iii) none of the funds of Purchaser have been derived from any unlawful activity. Without limiting the
foregoing: (1) Purchaser is in compliance with Executive Order 13224 (September 23, 2001), the rules and regulations of
OFAC and any enabling legislation or other executive orders in respect thereof; (2) at all times, (I) none of the funds or other
assets of Purchaser constitutes property of, or are beneficially owned, directly or indirectly, by any Person, entity or government subject
to trade restrictions under U.S. law (including, without limitation, the International Emergency Economic Powers Act, 50 U.S.C. §§
1701 et seq., Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any executive orders or regulations promulgated thereunder) (any
such Person, an “Embargoed Person”); (II) no Embargoed Person has any interest of any nature whatsoever in Investor;
and (III) if applicable to Investor, Investor has implemented a corporate anti-money laundering plan that is reasonably designed
to ensure compliance with applicable foreign and U.S. anti-money laundering law; and (4) none of the investors, officers, directors,
managers, members or partners of Investor appear on any lists published by OFAC with respect to Persons that have been designated by executive
order or by the Sanction Regulations as Persons with whom U.S. Persons may not transact business or must limit their interactions to types
approved by OFAC or otherwise. Investor shall promptly notify the Company if any of these representations in this paragraph ceases to
be true and accurate regarding Investor.

 

The Company acknowledges and
agrees that the representations contained in this Section 3.2 shall not modify, amend or affect such Purchaser’s right to rely
on the Company’s representations and warranties contained in this Agreement or any representations and warranties contained in any
other Transaction Document or any other document or instrument executed and/or delivered in connection with this Agreement or the consummation
of the transaction contemplated hereby.

 

ARTICLE IV. 

OTHER AGREEMENTS OF THE PARTIES

 

4.1           Transfer
Restrictions.

 

(a)           The
Securities may only be disposed of in compliance with state and federal securities laws. In connection with any transfer of Securities
other than pursuant to an effective registration statement or Rule 144, to the Company or to an Affiliate of a Purchaser or in connection
with a pledge as contemplated in Section 4.1(b), the Company may require the transferor thereof to provide to the Company an opinion
of counsel selected by the transferor and reasonably acceptable to the Company, the form and substance of which opinion shall be reasonably
satisfactory to the Company, to the effect that such transfer does not require registration of such transferred Securities under the Securities
Act. As a condition of transfer, any such transferee shall agree in writing to be bound by the terms of this Agreement and shall have
the rights and obligations of a Purchaser under this Agreement.

 

(b)           The
Purchasers agree to the imprinting, so long as is required by this Section 4.1, of a legend on any of the Securities in the following
form or a substantially similar form as may be required by the Company’s Transfer Agent:

 

[NEITHER] THIS SECURITY [NOR THE SECURITIES
INTO WHICH THIS SECURITY IS CONVERTIBLE] [NOR THE SECURITIES FOR WHICH THIS SECURITY MAY BE EXERCISED] HAS [NOT] BEEN REGISTERED
WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION
NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED
BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.
THIS SECURITY [AND THE SECURITIES ISSUABLE UPON [CONVERSION/EXERCISE] OF THIS SECURITY] MAY BE PLEDGED IN CONNECTION WITH A BONA
FIDE MARGIN ACCOUNT WITH A REGISTERED BROKER-DEALER OR OTHER LOAN WITH A FINANCIAL INSTITUTION THAT IS AN “ACCREDITED INVESTOR”
AS DEFINED IN RULE 501(a) UNDER THE SECURITIES ACT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

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The Company acknowledges and
agrees that a Purchaser may from time to time pledge pursuant to a bona fide margin agreement with a registered broker-dealer or grant
a security interest in some or all of the Securities to a financial institution that is an “accredited investor” as defined
in Rule 501(a) under the Securities Act and who agrees to be bound by the provisions of the Transaction Agreements and, if required
under the terms of such arrangement, such Purchaser may transfer pledged or secured Securities to the pledgees or secured parties. Such
a pledge or transfer would not be subject to approval of the Company and no legal opinion of legal counsel of the pledgee, secured party
or pledgor shall be required in connection therewith. Further, no notice shall be required of such pledge. At the appropriate Purchaser’s
expense, the Company will execute and deliver such reasonable documentation as a pledgee or secured party of Securities may reasonably
request in connection with a pledge or transfer of the Securities, including, if the Securities are registered under a registration statement,
the preparation and filing of any required prospectus supplement under Rule 424(b)(3) under the Securities Act or other applicable
provision of the Securities Act to appropriately amend the list of selling stockholders thereunder.

 

(c)           The
Conversion Shares and the Warrant Shares shall not contain any legend (including the legend set forth in Section 4.1(b) hereof):
(i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following
any sale of such Conversion Shares or Warrant Shares pursuant to Rule 144, (iii) if such Conversion Shares or Warrant Shares
are eligible for sale 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 Conversion Shares or Warrant Shares and without volume or manner-of-sale restrictions, or (iv) if
such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements
issued by the staff of the Commission). Upon request of the Purchaser, the Company shall cause its counsel to issue a legal opinion to
the Transfer Agent promptly after the events described in clauses (i)-(iv) in the immediately preceding sentence if required by the
Transfer Agent to effect the removal of the legend hereunder; provided that the opinion of counsel delivered in connection with clause
(i) may contain provisions that such opinion may be withdrawn at any time by counsel upon any applicable registration statement no
longer being effective and may be issued in reliance upon the Company undertaking in writing to such counsel to immediately place stop
transfer orders on such securities if the applicable registration statement is no longer effective and foregoing clauses (iii) or
(iv) are not then applicable. If all or any Notes (or Preferred Shares) are converted or Warrants exercised at a time when there
is an effective registration statement to cover the resale of the Conversion Shares or Warrant Shares, or if such Conversion Shares or
Warrant 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 Conversion Shares or Warrant 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 Conversion Shares or Warrant Shares and without
volume or manner-of-sale restrictions 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 Conversion Shares or Warrant
Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this
Section 4.1(c), it will, no later than three Trading Days following the delivery by a Purchaser to the Company or the Transfer Agent
of the Conversion Shares or Warrant Shares, as applicable, issued with a restrictive legend (such third Trading Day, the “Legend
Removal Date”), deliver or cause to be delivered to such Purchaser Conversion Shares or Warrant Shares, as applicable, that
are free from all restrictive and other legends. The Company may not make any notation on its records or give instructions to the Transfer
Agent that enlarge the restrictions on transfer set forth in this Section 4. Conversion Shares or Warrant Shares subject to legend
removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime
broker with the Depository Trust Company System as directed by such Purchaser.

 

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(d)           So
long as providing the certificate without the legend is allowed under applicable securities laws, in addition to such Purchaser’s
other available remedies, the Company shall pay to a Purchaser, in cash, as partial liquidated damages and not as a penalty, for each
$1,000 of Conversion Shares or Warrant Shares (based on the VWAP of the Common Stock on the date such Securities are submitted to the
Transfer Agent) delivered for removal of the restrictive legend and subject to Section 4.1(c), $10 per Trading Day (increasing to
$20 per Trading Day five (5) Trading Days after such damages have begun to accrue) for each Trading Day after the fifth (5th)
Trading Day immediately following the Legend Removal Date until such certificate is delivered without a legend. Nothing herein shall limit
such Purchaser’s right to pursue actual damages for the Company’s failure to deliver certificates representing any Securities
as required by the Transaction Documents, and such Purchaser shall have the right to pursue all remedies available to it at law or in
equity including, without limitation, a decree of specific performance and/or injunctive relief.

 

4.2           Acknowledgment
of Dilution. The Company acknowledges that the issuance of the Securities may result in dilution of the outstanding shares of Common
Stock, which dilution may be substantial under certain market conditions. The Company further acknowledges that its obligations under
the Transaction Documents, including, without limitation, its obligation to issue the Conversion Shares and the Warrant Shares pursuant
to the Transaction Documents, are unconditional and absolute and not subject to any right of set off, counterclaim, delay or reduction,
regardless of the effect of any such dilution or any claim the Company may have against any Purchaser and regardless of the dilutive effect
that such issuance may have on the ownership of the other stockholders of the Company.

 

4.3           Furnishing
of Information; Public Information. From and after the date on which the Company completes the IPO until the date that no Purchasers
own any Securities, the Company agrees to timely file (or obtain extensions in respect thereof and file within the applicable grace period)
all reports required to be filed by the Company pursuant to the Exchange Act even if the Company is not then subject to the reporting
requirements of the Exchange Act.

 

4.4           Integration.
The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined in Section 2
of the Securities Act) that would be integrated with the offer or sale of the Securities in a manner that would require the registration
under the Securities Act of the sale of the Securities or that would be integrated with the offer or sale of the Securities for purposes
of the rules and regulations of any Trading Market such that it would require shareholder approval prior to the closing of such other
transaction unless shareholder approval is obtained before the closing of such subsequent transaction.

 

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4.5           Conversion
and Exercise Procedures. The form of Notice of Conversion included in the Notes (or in the alternative, the delivery of a notice of
conversion with respect to any Preferred Shares) and the form of Notice of Exercise included in the Warrants set forth the totality of
the procedures required of the Purchasers in order to convert the Notes (or Preferred Shares) or exercise the Warrants (except, in the
case of the Warrants, for the making of any required payments by the holder thereof to the Company). Without limiting the preceding sentences,
no ink-original Offering Notice Response, Notice of Conversion or Notice of Exercise shall be required, nor shall any medallion guarantee
(or other type of guarantee or notarization) of any Notice of Conversion form or Notice of Exercise form be required in order to convert
the Notes (or any Preferred Shares) or exercise the Warrants. No additional legal opinion, other information or instructions shall be
required of the Purchasers to convert their Notes (or Preferred Shares) or exercise their Warrants. The Company shall honor conversions
of the Notes (or Preferred Shares) and exercises of the Warrants and shall deliver Conversion Shares or Warrant Shares, as applicable,
in accordance with the terms, conditions and time periods set forth in the Transaction Documents.

 

4.6           Securities
Laws Disclosure; Publicity. The Company and each Purchaser shall consult with each other in issuing any press releases with respect
to the transactions contemplated hereby, and neither the Company nor any Purchaser shall issue any such press release nor otherwise make
any such public statement without the prior consent of the Company, with respect to any press release of any Purchaser, or without the
prior consent of each Purchaser, with respect to any press release of the Company, which consent shall not unreasonably be withheld or
delayed, except if such disclosure is required by law, in which case the disclosing party shall promptly provide the other party with
prior notice of such public statement or communication. Notwithstanding anything to the contrary contained herein, the Company shall be
permitted to make disclosures of the transactions contemplated hereby in any filing with the Commission as required by the rules and
regulations thereof and as otherwise required by law, including any amendment to the Registration Statement and with the NYSE in connection
with the Company’s application to have its Common Stock and certain warrants listed thereon in connection with the IPO; provided,
however, that the Company shall not publicly disclose the name of any Purchaser, or include the name of any Purchaser, in any filing with
the Commission or any regulatory agency or Trading Market, without the prior written consent of such Purchaser, except: (a) as required
by federal securities law in connection with the filing of final Transaction Documents with the Commission and (b) to the extent
such disclosure is required by law or Trading Market regulations, in which case the Company shall provide the Purchasers with prior notice
of such disclosure permitted under this clause (b).

 

4.7           Shareholder
Rights Plan. No claim will be made or enforced by the Company or, with the consent of the Company, any other Person, that any Purchaser
is an “Acquiring Person” under any control share acquisition, business combination, poison pill (including any distribution
under a rights agreement) or similar anti-takeover plan or arrangement in effect or hereafter adopted by the Company, or that any Purchaser
could be deemed to trigger the provisions of any such plan or arrangement, by virtue of receiving Securities under the Transaction Documents
or under any other agreement between the Company and the Purchasers.

 

4.8           Non-Public
Information. Following the IPO, the Company shall not, and shall cause each of its Subsidiaries and each of their respective officers,
directors, employees, affiliates and agents, not to, provide any Purchaser with any material, nonpublic information regarding the Company
or any of its Subsidiaries from and after the date hereof without the express prior written consent of such Purchaser. If following the
IPO a Purchaser has, or believes it has, received any such material, nonpublic information regarding the Company or any of its Subsidiaries
from the Company, any of its Subsidiaries or any of their respective officers, directors, employees, affiliates or agents, it may provide
the Company with written notice thereof. The Company shall, within one (1) Trading Day of receipt of such notice, make public disclosure
of such material, nonpublic information. In the event of a breach of the foregoing covenant by the Company, any of its Subsidiaries, or
any of its or their respective officers, directors, employees, affiliates and agents, in addition to any other remedy provided herein
or in the Transaction Documents, a Purchaser shall have the right to make a public disclosure, in the form of a press release, public
advertisement or otherwise, of such material, nonpublic information without the prior approval by the Company, its Subsidiaries, or any
of its or their respective officers, directors, employees, affiliates or agents. No Purchaser shall have any liability to the Company,
its Subsidiaries, or any of its or their respective officers, directors, employees, affiliates, stockholders or agents for any such disclosure.
To the extent that, following the IPO, the Company delivers any material, nonpublic information to a Purchaser without such Purchaser’s
consent, the Company hereby covenants and agrees that such Purchaser shall not have any duty of confidentiality to the Company, any of
its Subsidiaries or any of their respective officers, directors, employees, affiliates or agent with respect to, or a duty to the Company,
any of its Subsidiaries or any of their respective officers, directors, employees, affiliates or agent not to trade on the basis of, such
material, nonpublic information.

 

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4.9           Use
of Proceeds. The Company shall use the proceeds from this offering as cash collateral for letters of credit delivered as security
deposits in connection with the leases of the Behome Property and the Tillary Property and for general corporate and working capital purposes.

 

4.10         Indemnification
of Purchasers. Subject to the provisions of this Section 4.10, the Company will indemnify and hold each Purchaser and its directors,
officers, shareholders, members, partners, employees and agents (and any other Persons with a functionally equivalent role of a Person
holding such titles notwithstanding a lack of such title or any other title), each Person who controls such Purchaser (within the meaning
of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, shareholders, agents,
members, partners or employees (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding
a lack of such title or any other title) of such controlling persons (each, a “Purchaser Party”) harmless from any
and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in
settlements, court costs and reasonable attorneys’ fees and costs of investigation that any such Purchaser Party may suffer or incur
as a result of or relating to (a) any breach of any of the representations, warranties, covenants or agreements made by the Company
in this Agreement or in the other Transaction Documents or (b) any action instituted against the Purchaser Parties in any capacity,
or any of them or their respective Affiliates, by any stockholder of the Company who is not an Affiliate of such Purchaser Party, with
respect to any of the transactions contemplated by the Transaction Documents (unless such action is based upon a breach of such Purchaser
Party’s representations, warranties or covenants under the Transaction Documents or any agreements or understandings such Purchaser
Party may have with any such stockholder or any violations by such Purchaser Party of state or federal securities laws or any conduct
by such Purchaser Party which constitutes fraud, gross negligence, willful misconduct or malfeasance). If any action shall be brought
against any Purchaser Party in respect of which indemnity may be sought pursuant to this Agreement, such Purchaser Party shall promptly
notify the Company in writing, and the Company shall have the right to assume the defense thereof with counsel of its own choosing reasonably
acceptable to the Purchaser Party. Any Purchaser Party shall have the right to employ separate counsel in any such action and participate
in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Purchaser Party except to the extent
that (i) the employment thereof has been specifically authorized by the Company in writing, (ii) the Company has failed after
a reasonable period of time to assume such defense and to employ counsel or (iii) in such action there is, in the reasonable opinion
of counsel, a material conflict on any material issue between the position of the Company and the position of such Purchaser Party, in
which case the Company shall be responsible for the reasonable fees and expenses of no more than one such separate counsel. The Company
will not be liable to any Purchaser Party under this Agreement (y) for any settlement by a Purchaser Party effected without the Company’s
prior written consent, which shall not be unreasonably withheld or delayed; or (z) to the extent, but only to the extent, that a
loss, claim, damage or liability is attributable to any Purchaser Party’s breach of any of the representations, warranties, covenants
or agreements made by such Purchaser Party in this Agreement or in the other Transaction Documents. The indemnification required by this
Section 4.10 shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as and when
bills are received or are incurred. The indemnity agreements contained herein shall be in addition to any cause of action or similar right
of any Purchaser Party against the Company or others and any liabilities the Company may be subject to pursuant to law.

 

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4.11           Reservation
and Listing of Securities.

 

(a)           The
Company shall maintain a reserve from its duly authorized shares of Common Stock for issuance pursuant to the Transaction Documents in
such amount as equals the Required Minimum.

 

(b)           If,
on any date, the number of authorized but unissued (and otherwise unreserved) shares of Common Stock is less than (i) the Required
Minimum on such date, minus (ii) the number of shares of Common Stock previously issued pursuant to the Transaction Documents, then
the Board of Directors shall use commercially reasonable efforts to amend the Company’s certificate or articles of incorporation
to increase the number of authorized but unissued shares of Common Stock to at least the Required Minimum at such time (minus the number
of shares of Common Stock previously issued pursuant to the Transaction Documents), as soon as possible and in any event not later than
the 90th day after such date, provided that the Company will not be required at any time to authorize a number of shares
of Common Stock greater than the maximum remaining number of shares of Common Stock that could possibly be issued after such time pursuant
to the Transaction Documents.

 

4.12         Sale
or Transfer of Assets. So long as the Notes or any Preferred Shares remain outstanding, neither the Company, nor any Subsidiary of
the Company, shall, without each Purchaser’s written consent, sell, lease or otherwise dispose of or transfer any significant portion
of its assets outside the ordinary course of business; provided, however, that for purposes of clarity, it is understood that the Company
enters, trades, modifies and terminates early real property leases from time to time as part of its operations in the ordinary course
of business. Any consent to the disposition of any assets may be conditioned on a specified use of the proceeds of disposition. In addition,
so long as the Notes or any Preferred Shares remain outstanding, neither the Company nor any Subsidiary shall sell or transfer or otherwise
dispose of any assets to any Subsidiary that is not a guarantor under, and a party to, the Security Agreement.

 

4.13         Equal
Treatment of Purchasers. No consideration (including any modification of any Transaction Document) shall be offered or paid to any
Person to amend or consent to a waiver or modification of any provision of this Agreement unless the same consideration is also offered
to all of the parties to this Agreement. For clarification purposes, this provision constitutes a separate right granted to each Purchaser
by the Company and negotiated separately by each Purchaser, and is intended for the Company to treat the Purchasers as a class and shall
not in any way be construed as the Purchasers acting in concert or as a group with respect to the purchase, disposition or voting of Securities
or otherwise.

 

4.14         Certain
Transactions and Confidentiality. Each Purchaser, severally and not jointly with the other Purchasers, covenants that neither it,
nor any Affiliate acting on its behalf or pursuant to any understanding with it, will from the date of the IPO until the date that the
Notes or any Preferred Shares are no longer outstanding, execute any Short Sales of the Common Stock (provided that this provision shall
not prohibit any sales made where a corresponding Notice of Conversion or Notice of Exercise is tendered to the Company and the shares
received upon such conversion or exercise are used to close out such sale) (a “Prohibited Short Sale”). Each Purchaser,
severally and not jointly with the other Purchasers, covenants that until such time as the transactions contemplated by this Agreement
are publicly disclosed by the Company in the IPO, such Purchaser will maintain the confidentiality of the existence and terms of this
transaction and the information included in the Transaction Documents and the Disclosure Schedules. Notwithstanding the foregoing, and
notwithstanding anything contained in this Agreement to the contrary, the Company expressly acknowledges and agrees that (i) no
Purchaser makes any representation, warranty or covenant hereby that it will not engage in effecting transactions in any securities of
the Company after the time that the transactions contemplated by this Agreement are first publicly announced by the Company is a press
release or in the registration statement for the IPO, (ii) except for a Prohibited Short Sale, following the IPO, no Purchaser shall
be restricted or prohibited from effecting any transactions in any securities of the Company in accordance with applicable securities
laws, and (iii) no Purchaser shall have any duty of confidentiality to the Company or its Subsidiaries after the IPO. Notwithstanding
the foregoing, in the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers manage separate
portions of such Purchaser’s assets and the portfolio managers have no direct knowledge of the investment decisions made by the
portfolio managers managing other portions of such Purchaser’s assets, the covenant set forth above shall only apply with respect
to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Securities covered by this
Agreement.

 

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4.15         Form D;
Blue Sky Filings. The Company agrees to timely file a Form D with respect to the Securities as required under Regulation D and
to provide a copy thereof, promptly upon request of any Purchaser. The Company shall take such action as the Company shall reasonably
determine is necessary in order to obtain an exemption for, or to qualify the Securities for, sale to the Purchasers under applicable
securities or “Blue Sky” laws of the states of the United States, and shall provide evidence of such actions promptly upon
request of any Purchaser.

 

4.16         Piggy-Back
Registrations.  If at any time while any of the Notes or the Warrants or any Preferred Shares remain outstanding there
is not an effective registration statement under the Securities Act covering all of the Conversion Shares and the Warrant Shares (the
 “Registrable Securities”) and the Company shall determine to prepare and file with the Commission a registration statement
relating to an offering for its own account or the account of others under the Securities Act of any of its equity securities, other
than on Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then equivalents relating to equity securities
to be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection with stock
option or other employee benefit plans, then the Company shall send to each Purchaser then holding Notes, Preferred Shares or Warrants
written notice of such determination and, if within fifteen calendar days after receipt of such notice, any such Purchaser shall so request
in writing, the Company shall include in such registration statement all or any part of such Registrable Securities such Purchaser requests
to be registered, subject to customary underwriter cutbacks applicable to all holders of registration rights and subject to the applicable
terms of such registration rights. The rights provided in this Section shall not apply with respect to any registration statement
filed in connection with any follow-on primary offering by the Company so long as no equity securities will be offered under such registration
statement for the account of others. Notwithstanding the foregoing, a security shall cease to be a Registrable Security for purposes
of this Agreement from and after such time as the Purchasers may resell such security without volume restrictions under Rule 144,
as determined by the counsel to the Company pursuant to a written opinion letter to such effect, addressed and acceptable to the Company’s
transfer agent and the affected Purchaser.

 

4.17         Liens.
So long as any of the Notes remain outstanding, the Company shall not, without the prior written consent of each Purchaser, incur,
create, assume or suffer to exist any Lien on any of its property or assets, whether now owned or hereinafter acquired, except for (a) Liens
for taxes not yet due or which are being contested in good faith by appropriate proceedings; (b) non-consensual Liens arising by
operation of law, arising in the ordinary course of business, and for amounts which are not overdue for a period of more than 30 days
or that are being contested in good faith by appropriate proceedings; (c) Liens on property securing indebtedness incurred by the
Company or any of its Subsidiaries to provide funds for all or a portion of the cost of acquiring, leasing, constructing, altering, expanding,
improving or repairing such property; (d) Liens securing purchase money Indebtedness incurred in connection with the acquisition
of capital assets by the Company or any Subsidiary in the ordinary course of business; (e) Liens securing the Existing Notes; or
(f) Liens listed on Schedule 4.17 of the Disclosure Schedules.

 

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4.18         Other
Indebtedness. Except with respect to the Existing Notes or as set forth on Schedule 4.18, so long as any of the Notes remain outstanding,
the Company shall not (directly or indirectly through any Subsidiary or affiliate) incur or suffer to exist or guarantee any Indebtedness
that is senior to or pari passu with (in priority of payment and performance) the Company's obligations hereunder or
under the Notes, or that matures prior to the maturity date of the Notes. As used herein, the term "Indebtedness" means
(a) all indebtedness of the Company for borrowed money or for the deferred purchase price of property or services, including any
type of letters of credit, but not including deferred purchase price obligations in place as of the Closing Date or obligations to trade
creditors incurred in the ordinary course of business, (b) all obligations of the Borrower evidenced by notes, bonds, debentures
or other similar instruments, (c) purchase money indebtedness hereafter incurred by the Company to finance the purchase of fixed
or capital assets, including all capital lease obligations of the Company which do not exceed the purchase price of the assets funded,
(d) all guarantee obligations of the Company in respect of obligations of the kind referred to in clauses (a) through (c) above
that the Company would not be permitted to incur or enter into, and (e) all obligations of the kind referred to in clauses (a) through
(d) above that the Company is not permitted to incur or enter into that are secured and/or unsecured by (or for which the holder
of such obligation has an existing right, contingent or otherwise, to be secured and/or unsecured by) any Lien on property (including
accounts and contract rights) owned by the Company, whether or not the Company has assumed or become liable for the payment of such obligation.
Notwithstanding anything to the contrary contained in this Agreement, the Company
shall be entitled to have outstanding at any time up to $1.5 million aggregate principal amount of other promissory notes; provided that
such promissory notes are on terms no more favorable to the holders thereof as those afforded to the Purchasers in the Notes and that
such promissory notes shall be subordinate in right of repayment to the Notes.

 

4.19         Distributions
on Capital Stock. So long as any of the Notes or Preferred Shares remain outstanding, the Company shall not without each Purchaser’s
written consent, (a) pay, declare or set apart for such payment, any dividend or other distribution (whether in cash, property or
other securities) on shares of capital stock other than dividends on shares of Common Stock solely in the form of additional shares of
Common Stock or (b) directly or indirectly or through any Subsidiary make any other payment or distribution in respect of its capital
stock.

 

4.20         Restriction
on Stock Repurchases and Debt Repayments. So long as any of the Notes or any Preferred Shares remain outstanding, the Company shall
not, without each Purchaser’s prior written consent, (a) redeem, repurchase or otherwise acquire (whether for cash or in exchange
for property or other securities or otherwise) in any one transaction or series of related transactions any shares of capital stock of
the Company (other than the Preferred Shares) or any warrants, rights or options to purchase or acquire any such shares, or (b) repay
any pari passu or subordinated indebtedness of the Company or repay any indebtedness to the Company’s officers,
directors or other Affiliates, except for the repayment of the Existing Notes and the indebtedness disclosed under the heading “Use
of Proceeds” in the Registration Statement. Notwithstanding the foregoing, the Company shall be permitted to effect the following
without the consent of the Purchasers: (i) dividends or other distributions payable on the Common Stock solely in the form of additional
shares of Common Stock and (ii) repurchases of stock from former employees, officers, directors, consultants or other persons who
performed services for the Company or any subsidiary in connection with the cessation of such employment or service at no greater than
the original purchase price thereof.

 

4.21         Advances
and Loans; Affiliate Transactions. So long as any of the Notes or any Preferred Shares remain outstanding, the Company shall not,
without each Purchaser’s written consent, lend money, give credit, or make advances to any person, firm, joint venture or corporation,
including, without limitation, officers, directors, employees, subsidiaries and affiliates of the Company, except loans, credits or advances
(a) in existence or committed on the Closing Date and which the Company has informed each Purchaser in writing prior to the Closing
Date, (b) in regard to transactions with unaffiliated third parties, made in the ordinary course of business, or (c) in regard
to transactions with unaffiliated third parties, not in excess of $50,000. So long as any of the Notes or any Preferred Shares remain
outstanding, the Company shall not, without each Purchaser’s written consent, enter into any transaction with Affiliates, except
transactions with affiliates made in the ordinary course of business; provided, however, that nothing in this Section 4.21 shall
prohibit the Company from entering into any transaction with an Affiliate for the purpose of the Affiliate making a loan or advance to
the Company.

 

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4.22         Proceeds
of IPO, Other Equity or Debt Issuances or Asset Sales.

 

(a)           The
Company agrees, upon the written request of one or more Purchasers delivered to the Company no later than seven (7) Business Days
following the consummation of the IPO, to repay the Notes and Existing Notes held by such Purchasers; provided, however, that the Company
shall not be required to repay an aggregate principal amount of Notes or Existing Notes pursuant to this Section 4.22(a)  that
is more than the greater of (i) $2,500,000, or (ii) an amount equal to fifty percent (50%) of the aggregate Subscription Amount
paid by such Purchasers under this Agreement and the Existing SPA. Any such repayment shall be made on a pro rata basis if Purchasers
have requested the repayment of a greater aggregate principal amount of Notes and Existing Notes. Any such repayment shall be at a repayment
price equal to one hundred fifteen percent (115%) of the principal amount to be repaid, together with all accrued and unpaid interest
on such principal amount, and shall be made within three (3) Business Days of the date of delivery to the Company of such written
request, from the net proceeds of the IPO, prior to applying the net proceeds of the IPO for any other purposes (other than those specifically
described under the heading “Use of Proceeds” in the Registration Statement).

 

(b)           The
Company agrees to provide to the Purchasers at least three (3) Business Days’ prior written notice of any proposed (i) sales
of debt or equity securities other than the IPO, and (ii) sales of assets outside the ordinary course of business (each, a “Funding
Transaction”) and, upon the written request of one or more Purchasers delivered to the Company no later than three (3) Business
Days following receipt of any such notice, to repay the principal amount of the Notes held by such Purchaser(s), on a pro rata basis if
Purchasers have requested the repayment of an aggregate principal amount of Notes that is more than the net proceeds of such Funding Transaction,
at a repayment price equal to one hundred fifteen percent (115%) of the principal amount to be repaid, together with all accrued and unpaid
interest on such principal amount, within three (3) Business Days of the closing of such Funding Transaction, from the net proceeds
of the Funding Transaction, prior to applying the net proceeds of the Funding Transaction for any other purposes.

 

(c)           The
Purchasers hereby waive any notice of such prepayment pursuant to this Section 4.22 as would otherwise be required by Section 2(e) of
the Notes or the Existing Notes. Notwithstanding anything to the contrary contained herein in this Section 4.22, nothing in this
Section 4.22 shall limit the ability of the Company to prepay the Notes or Existing Notes at any time in accordance with the terms
thereof.

 

4.23         Additional
Securities Issuances. So long as any of the Notes or Preferred Shares remain outstanding, without
the prior written consent of the Purchasers, the Company shall not issue any indebtedness for money borrowed that has a variable conversion
rate or enter into any transaction for merchant cash advances.

 

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4.24         Participation
in Future Financing.

 

(a)           From
the date hereof until the date that is the later of (i) the date on which no Notes or Preferred Shares are outstanding and (ii) the
18-month anniversary of the Closing Date, upon any issuance by the Company or any of its Subsidiaries of Common Stock, Common Stock Equivalents
for cash consideration, indebtedness or a combination of units thereof (a “Subsequent Financing”), each Purchaser shall
have the right to participate in such Subsequent Financing in an amount up to an amount equal to such Purchaser’s Subscription Amount,
or if the amount of the Subsequent Financing is less than the aggregate Subscription Amounts of all of the Purchasers, such Purchaser’s
Pro Rata Portion (such amount, the “Participation Maximum”), on the same terms, conditions and price provided for in
the Subsequent Financing.

 

(b)           At
least three (3) Trading Days prior to the closing of the Subsequent Financing, the Company shall deliver to each Purchaser a written
notice of its intention to effect a Subsequent Financing (“Pre-Notice”), which Pre-Notice shall ask such Purchaser
if it wants to review the details of such financing (such additional notice, a “Subsequent Financing Notice”). Upon
the request of a Purchaser, and only upon a request by such Purchaser, for a Subsequent Financing Notice, the Company shall promptly,
but no later than one (1) Trading Day after such request, deliver a Subsequent Financing Notice to such Purchaser. The Subsequent
Financing Notice shall describe in reasonable detail the proposed terms of such Subsequent Financing, the amount of proceeds intended
to be raised thereunder and the Person or Persons through or with whom such Subsequent Financing is proposed to be effected and shall
include a term sheet or similar document relating thereto as an attachment.

 

(c)           Any
Purchaser desiring to participate in such Subsequent Financing must provide written notice to the Company by not later than 5:30 p.m. (New
York City time) on the second (2nd) Trading Day after all of the Purchasers have received the Pre-Notice that such Purchaser
is willing to participate in the Subsequent Financing, the amount of such Purchaser’s participation, and representing and warranting
that such Purchaser has such funds ready, willing, and available for investment on the terms set forth in the Subsequent Financing Notice.
If the Company receives no such notice from a Purchaser as of such second (2nd) Trading Day, such Purchaser shall be deemed
to have notified the Company that it does not elect to participate.

 

(d)           If
by 5:30 p.m. (New York City time) on the second (2nd) Trading Day after all of the Purchasers have received the
Pre-Notice, notifications by the Purchasers of their willingness to participate in the Subsequent Financing (or to cause their designees
to participate) is, in the aggregate, less than the total amount of the Subsequent Financing, then the Company may consummate the remaining
portion of such Subsequent Financing on the terms and with the Persons set forth in the Subsequent Financing Notice.

 

(e)           If
by 5:30 p.m. (New York City time) on the second (2nd) Trading Day after all of the Purchasers have received the
Pre-Notice, the Company receives responses to a Subsequent Financing Notice from Purchasers seeking to purchase more than the aggregate
amount of the Participation Maximum, each such Purchaser shall have the right to purchase its Pro Rata Portion (as defined below) of the
Participation Maximum. “Pro Rata Portion” means the ratio of (x) the Subscription Amount of Securities purchased
by a Purchaser participating under this Section 4.24 and (y) the sum of the aggregate Subscription Amounts of Securities purchased
by all Purchasers participating under this Section 4.24.

 

(f)           The
Company must provide the Purchasers with a second Subsequent Financing Notice, and the Purchasers will again have the right of participation
set forth above in this Section 4.24, if the Subsequent Financing subject to the initial Subsequent Financing Notice is not consummated
for any reason on the terms set forth in such Subsequent Financing Notice within thirty (30) Trading Days after the date of the initial
Subsequent Financing Notice.

 

(g)           The
Company and each Purchaser agree that if any Purchaser elects to participate in the Subsequent Financing, the transaction documents related
to the Subsequent Financing shall not include any term or provision whereby such Purchaser shall be required to agree to any restrictions
on trading as to any of the Securities purchased hereunder or be required to consent to any amendment to or termination of, or grant any
waiver, release or the like under or in connection with, this Agreement, without the prior written consent of such Purchaser.

 

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(h)           Notwithstanding
anything to the contrary in this Section 4.24 and unless otherwise agreed to by such Purchaser, the Company shall either confirm
in writing to such Purchaser that the transaction with respect to the Subsequent Financing has been abandoned or shall publicly disclose
its intention to issue the securities in the Subsequent Financing, in either case in such a manner such that such Purchaser will not be
in possession of any material, non-public information, by the tenth (10th) Business Day following delivery of the Subsequent Financing
Notice. If by such tenth (10th) Business Day, no public disclosure regarding a transaction with respect to the Subsequent Financing has
been made, and no notice regarding the abandonment of such transaction has been received by such Purchaser, such transaction shall be
deemed to have been abandoned and such Purchaser shall not be deemed to be in possession of any material, non-public information with
respect to the Company or any of its Subsidiaries.

 

(i)           Notwithstanding
the foregoing, this Section 4.24 shall not apply in respect of an Exempt Issuance.

 

4.25         Lock-Up.
In connection with the IPO, if requested by the Company and the representative of the underwriters, each Purchaser shall enter into a
supplemental agreement to not transfer any shares of Common Stock (or other securities) of the Company held by such Purchaser (other than
those included in the registration) during the ninety (90) day period (or such lesser period as may be determined by the underwriter)
following the effective date of the registration statement of the Company filed under the Securities Act relating to the IPO; provided
that all directors, officers and holders of the Company’s outstanding securities issued prior to the IPO enter into agreements providing
for similar restrictions on sales and that any waiver or termination of the prohibitions set forth in this Section 4.25 by the Company
or any underwriter shall apply to each Purchaser. The obligations described in this Section 4.25 shall not apply to a registration
relating solely to employee benefit plans on Form S-3 or Form S-8 or similar forms that may be promulgated in the future, or
a registration relating solely to a transaction pursuant to Rule 145 under the Securities Act on Form S-4 or similar forms that
may be promulgated in the future. The Company may impose stop-transfer instructions with respect to each Purchaser’s shares of Common
Stock (or other securities) subject to the foregoing restriction until the end of such ninety (90) day or lesser period.

 

4.26         Post
Lock-Up Period Adjustment. Within two Business Days following the last day of the Lock-Up Period, the Company shall prepare and deliver
to each Purchaser an officer’s certificate (the “Pricing Certificate”) certified by the Chief Financial Officer
of the Company that sets forth the average VWAP of the Common Stock for the last three Trading Days of the Lock-Up Period (the “Closing
Lock-up Price”), which certificate shall set forth the basis for the Company’s calculation of the Closing Lock-up Price.
If the Closing Lock-up Price is less than an amount equal to the price at which the Common Stock (or units of Common Stock and warrants
if such units are sold in the IPO) is sold in the IPO, each Purchaser shall have the right, exercisable within five (5) Business
Days of date of its receipt of the Pricing Certificate, to request that the Company prepay pursuant to Section 2(d) of the
Notes, and the Company shall thereafter prepay pursuant to such Section 2(d) of the Notes, an amount equal to up to fifty percent
(50%) of the original principal amount of the Notes held by such Purchaser, and all accrued and unpaid interest thereon, in six (6) equal
monthly installments commencing on the tenth (10th) Business Day following the last day of the Lock-Up Period and on each
monthly anniversary of such date.

 

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4.27         Right
of First Refusal. If from the date hereof until the date that is the later of (i) the date on which no Notes or Preferred
Shares are outstanding and (ii) the 18-month anniversary of the Closing Date, the Company or any Subsidiary has a bona fide offer
of capital or financing from any third party that the Company or Subsidiary intends to act upon, then the Company must first offer such
opportunity to the Purchasers to provide such capital or financing to the Company or Subsidiary on the same terms as each respective third
party’s terms. Should the Purchasers be unwilling or unable to provide such capital or financing to the Company within ten (10) Trading
Days from the Purchasers’ receipt of written notice of the offer (the “Offer Notice”) from the Company, then
the Company or Subsidiary may, subject to Section 4.24, obtain such capital or financing from that respective third party upon the
exact same terms and conditions offered by the Company to the Purchaser, which transaction must be completed within sixty (60) days after
the date of the Offer Notice. If the Company does not receive the capital or financing from the respective 3rd party within
sixty (60) days after the date of the respective Offer Notice, then the Company must again offer the capital or financing opportunity
to the Purchasers as described above, and the process detailed above shall be repeated.

 

4.28           Mandatory
Exchange of Notes. Following the consummation of the IPO and the listing of the Common Stock on any of the Nasdaq or New York stock
exchanges, each Purchaser shall, upon the written request of the Company, exchange such Purchaser’s Notes (other than any Notes
that are to be paid pursuant to Section 4.22(a) or converted to Common Stock) for a class of the Company’s convertible
preferred stock having terms as set forth in a Certificate of Designation pursuant to the terms of an exchange agreement that has representations
and warranties substantially identical to the representations and warranties of the Company set forth in Section 3.1 and agreements
of the Company and the Purchasers applicable to the shares of preferred stock and such parties as are set forth in this Article IV.
Any such exchange shall be effected pursuant to Section 3(a)(9) of the Securities Act and in connection with such exchange the
Company shall acknowledge that the holding period of the shares of preferred stock (and the shares of Common Stock issuable upon conversion
of such shares) shall tack back to the date the Notes were originally issued by the Company to the Purchasers (or their assignor) and
shall covenants not to take any position to the contrary.

 

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ARTICLE V. 

REVENUE SHARE

 

5.1           Payment
of Hotel Revenue Share.

 

(a)           With
respect each calendar quarter during the Original Lease Term (as defined below) of a Property (each, a “Revenue Share Period”),
commencing with the first full calendar quarter following the date on which the Company or an Affiliate of the Company originally enters
into a lease or sublease for such Property (a copy of which shall be provided to the Purchasers within ten (10) days of the date
of execution thereof by the Company), the Company shall, with respect to each Property leased or subleased by the Company or an Affiliate
of the Company during such Revenue Share Period, pay to each Purchaser such Purchaser’s pro rata percentage (as
set forth on the signature page hereto executed by such Purchaser) of the Applicable Percentage (as defined below) of the Quarterly
Net Rental Revenues (as defined below) received by the Company or any Affiliate thereof with respect to such Property during such Revenue
Share Period. Within ten (10) days of the last Business Day of each Revenue Share Period that ends prior to the consummation of the
IPO, or within ten (10) days of the date of the filing by the Company of its Quarterly Report on Form 10-Q for each Revenue
Share Period that ends after consummation of the IPO, the Company shall deliver to each Purchaser an officer’s certificate
certified by the Chief Financial Officer of the Company (a “Revenue Share Certificate”) that sets forth with respect
to each Property (i) the Quarterly Net Rental Revenues received by the Company and each Affiliate of the Company in respect of such
Property during the immediately preceding Revenue Share Period, (ii) the amount that is equal to the Applicable Percentage of the
Quarterly Net Rental Revenues in respect of such Property (such amount, the “Revenue Share”) for such immediately preceding
Revenue Share Period, and (iii) such Purchaser’s pro rata percentage of such Revenue Share (the “Payment Amount”),
which certificate shall set forth, with respect to each Property in respect of which the Company or an Affiliate of the Company received
revenues, the basis for the Company’s calculation of such Quarterly Net Rental Revenues, such Revenue Share and the Payment Amount
and which certificate shall have annexed thereto copies of the bank statements covering such immediately preceding Revenue Share Period
for each account of the Company or an Affiliate of the Company into which any revenues generated by a Property during such Revenue Share
Period were deposited during such Revenue Share Period. The Company shall pay to each Purchaser such Purchaser’s Payment Amount
for a Revenue Share Period for each Property within two (2) Business Days of the date of delivery to such Purchaser of the applicable
Revenue Share Certificate for such Revenue Share Period by wire transfer of immediately available funds to such account as such Purchaser
shall have directed in writing. If the Company fails to pay any Payment Amount within five (5) Business Days of the date due hereunder,
such Payment Amount shall be increased to an amount equal to 130% of such Payment Amount and such increased Payment Amount shall accrue
interest daily from the date due until the date paid at a rate equal to 2.0% per month (24% per annum) calculated on the basis of a 360-day
year consisting of twelve 30-day periods. For purposes of this Section 5.1, the term “Applicable Percentage” shall
mean, (i) with respect to the Tillary Property, for each of the first twenty (20) Revenue Share Periods for such Property, ten percent
(10%), and for each other Revenue Share Period, one percent (1%), and (ii) with respect to each other Property, for each of the first
twenty (20) Revenue Share Periods for such Property, seven and one-half percent (7.5%), and for each other Revenue Share Period, one percent
(1%), the term “Original Lease Term” shall mean, with respect to a Property, the term of the original lease of the
Company or an Affiliate of the Company relating to such Property, including all extensions thereof, and the term “Quarterly Net
Rental Revenues” shall mean, with respect to a Property and a Revenue Share Period, the gross rental revenues received by the
Company and its Affiliates during such Revenue Share Period from the lease of accommodation units at such Property, as determined in accordance
with GAAP, net of any lease refunds during such Revenue Share Period as so determined.

  

(b)           If
the lease or sublease of the Company or any Affiliate of the Company with respect to any Property is terminated prior to the end of the
Original Lease Term of such Property, or any Property is permanently closed for business prior to the end of the Original Lease Term of
such Property, the Company shall, within thirty (30) days of such termination or closure, designate another hotel property of similar
size and location that is reasonably acceptable to the Purchasers to be designated as a Property for purposes of this Agreement (each,
a “Replacement Property”), and the provisions of Section 5.1(a) above and 5.1(c) below shall apply to
such Replacement Property until the end of the Original Lease Term of the Property being replaced.

 

(c)           The
obligations of the Company to pay the Payment Amounts and interest, if any, thereon pursuant to Section 5.1(a) shall be secured
by the Security Agreement as set forth therein.

 

(d)           If
the Closing for the second Tranche is effected pursuant to Section 2.1 and the Company or an Affiliate of the Company enters into
a lease or sublease for the Tillary Property without the Purchasers electing to proceed with the Closing for the Third Tranche, the Purchasers
shall have the right, exercisable within 180 days of the date on which the Company delivers to the Purchasers a copy of the Tillary lease
or sublease, by written notice to the Company, to substitute the Tillary Property for the DC Property for the remainder of the Original
Lease Term of the DC Property, in which event the Tillary Property shall become a Property for purposes of this Section 5.1 in lieu
of the DC Property, commencing on the first day of the next Revenue Share Period for the DC Property.

 

(e)           The
Company shall cause all leases or subleases with respect to a Property or Replacement Property to be in the name of CorpHousing
RSL LLC, a Delaware limited liability company and a wholly-owned subsidiary of the Company (“Leaseco”), and shall cause
all revenues received with respect to each Property or Replacement Property to be deposited in a deposit account maintained in the name
of Leaseco. The Company shall cause Leaseco to maintain ownership of each lease or sublease of a Property or Replacement Property and
shall take all required action to ensure that Leaseco does not sell, assign or otherwise transfer any such lease or sublease without the
prior written consent of each Purchaser. Leaseco shall have no commercial operations
other than to hold and operate the leases and related operations for each Property or Replacement Property and
to receive rental payments and other revenues relating to each Property and Replacement Property.

 

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(f)           In
addition to the Notes and Warrants that are issuable to the Purchasers pursuant to Section 2.1 in connection with the Closing
of the first Tranche, effective at the Closing of the first Tranche, the Purchasers shall be deemed to have been issued a credit in the
aggregate amount of $500,000 (the “Credit”), which can be applied by the Purchasers to obtain from the Company a Revenue
Share with respect to any one of the next five hotel properties that are leased or subleased by the Company or an Affiliate of the Company
after the date hereof (other than the Behome Property, the DC Property or the Tillary Property) in an amount equal to the Credit Percentage
(as defined below) of the Applicable Percentage that would be payable to the Purchasers pursuant to Section 5.1(a) if
such hotel property was a Property that had been financed by the Purchasers pursuant to this Agreement. The Company shall forward to the
Purchasers a complete copy of the lease or sublease entered into by the Company or an Affiliate of the Company within five (5) Business
Days of the date such lease or sublease is executed and delivered by the parties thereto. The Purchasers may elect to apply the Credit
with respect to any such hotel property by written notice to the Company within ten (10) Business Days of the date on which the Purchasers
are furnished a copy of the lease or sublease for any such hotel property. If the Purchasers elect to apply the Credit with respect to
any such hotel property, such hotel property shall be deemed to be a Property for all purposes of this Agreement. For purposes of this
Section 5.1, the term “Credit Percentage” means, with respect to any such hotel property, a fraction, the
numerator of which is $500,000 and the denominator is the amount of the letter of credit that was posted by the Company or an Affiliate
of the Company as a security deposit for the rental payments under the applicable lease or sublease of such hotel property.

 

ARTICLE VI. 

MISCELLANEOUS

 

6.1           [RESERVED]

 

6.2           Fees
and Expenses. Except as expressly set forth in the Transaction Documents or any other writing to the contrary, each party shall pay
the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident
to the negotiation, preparation, execution, delivery and performance of this Agreement; provided that at the Closing the Company shall
pay the Purchasers an amount equal to $50,000 for their legal fees (net of any expenses paid in advance). In addition, upon the request
of any Purchaser, the Company shall pay each Purchaser’s reasonable legal fees and expenses incident to the negotiation, preparation,
execution, delivery and performance of any document or agreement to be delivered by the Company and such Purchaser in respect of the Securities
or the Transaction Documents following the Closing. The Company shall pay all Transfer Agent fees (including, without limitation, any
fees required for same-day processing of any instruction letter delivered by the Company and any conversion notice delivered by a Purchaser),
stamp taxes and other taxes and duties levied in connection with the delivery of any Securities to the Purchasers.

 

6.3           Entire
Agreement. The Transaction Documents, together with the exhibits and schedules thereto, contain the entire understanding of the parties
with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, oral or written, with respect
to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.

 

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6.4           Notices.
Any and all notices or other communications or deliveries to be provided by a party hereunder shall be in writing and delivered
personally, by email (with a copy by a nationally recognized overnight courier, signature required), or sent by a nationally recognized
overnight courier service, signature required, addressed to the receiving party at the email or physical address set forth on the Signature
Page hereto. Any notice or other communication or deliveries hereunder shall be deemed given and effective on the earliest of (i) the
date of transmission, if such notice or communication is delivered via email at the email address set forth on the signature pages to
the Exchange Agreement prior to 12:00 p.m. (New York City time) on any date, (ii) the next Trading Day after the date of transmission,
if such notice or communication is delivered via email at the email address set forth on the signature pages to the Exchange Agreement
on a day that is not a Trading Day or later than 12:00 p.m. (New York City time) on any Trading Day, (iii) the second Trading
Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service, signature required or (iv) upon
actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as set
forth on the signature pages attached hereto.

 

6.5           Amendments;
Waivers. No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed, in
the case of an amendment, by the Company and the Purchasers holding at least 67% in interest of the Securities then outstanding or, in
the case of a waiver, by the party against whom enforcement of any such waived provision is sought. No waiver of any default with respect
to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any
subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any party to
exercise any right hereunder in any manner impair the exercise of any such right.

 

6.6           Headings.
The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any
of the provisions hereof.

 

6.7           Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns.
The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of each Purchaser (other
than by merger). Any Purchaser may assign any or all of its rights under this Agreement to any Person to whom such Purchaser assigns or
transfers any Securities, provided that such transferee agrees in writing to be bound, with respect to the transferred Securities, by
the provisions of the Transaction Documents that apply to the “Purchasers.”

 

6.8           No
Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted
assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as otherwise set forth in
Section 4.10 and this Section 6.8.

 

6.9           Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents shall be governed
by and construed and enforced in accordance with the internal laws of the State of Delaware, without regard to the principles of conflicts
of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions
contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective affiliates,
directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts
sitting in New Castle County, State of Delaware. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and
federal courts sitting in New Castle County, State of Delaware for the adjudication of any dispute hereunder or in connection herewith
or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents),
and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject
to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding.
Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding
by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address
in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process
and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted
by law. If either party shall commence an action, suit or proceeding to enforce any provisions of the Transaction Documents, then, in
addition to the obligations of the Company under Section 4.10, the prevailing party in such action, suit or proceeding shall
be reimbursed by the other party for its reasonable attorneys’ fees and other costs and expenses incurred with the investigation,
preparation and prosecution of such action or proceeding.

 

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6.10         Survival.
The representations and warranties contained herein shall survive the Closing and the delivery of the Securities for a period of twenty-four
(24) months thereafter.

 

6.11         Execution.
This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement
and shall become effective when counterparts have been signed by each party and delivered to each other party, it being understood that
the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or by e-mail delivery
of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose
behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were
an original thereof.

 

6.12         Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force
and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially reasonable efforts
to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision,
covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining
terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or
unenforceable.

 

6.13         Rescission
and Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of) any of
the other Transaction Documents, whenever any Purchaser exercises a right, election, demand or option under a Transaction Document and
the Company does not timely perform its related obligations within the periods therein provided, then such Purchaser may rescind or withdraw,
in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand or election in whole or in part
without prejudice to its future actions and rights; provided, however, that in the case of a rescission of a conversion
of the Notes or exercise of the Warrants, the applicable Purchaser shall be required to return any shares of Common Stock subject to any
such rescinded conversion notice or exercise notice concurrently with the restoration of such Purchaser’s right to acquire such
shares pursuant to such Purchaser’s Notes or Warrants.

 

6.14         Replacement
of Securities. If any certificate or instrument evidencing any Securities is mutilated, lost, stolen or destroyed, the Company shall
issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of
and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company of
such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances shall also pay any reasonable
third-party costs (including customary indemnity) associated with the issuance of such replacement Securities.

 

6.15           Remedies.
In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, each of the Purchasers
and the Company will be entitled to specific performance under the Transaction Documents. The parties agree that monetary damages may
not be adequate compensation for any loss incurred by reason of any breach of obligations contained in the Transaction Documents and hereby
agree to waive and not to assert in any action for specific performance of any such obligation the defense that a remedy at law would
be adequate.

 

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6.16         Payment
Set Aside. To the extent that the Company makes a payment or payments to any Purchaser pursuant to any Transaction Document or a
Purchaser enforces or exercises its rights thereunder, and such payment or payments or the proceeds of such enforcement or exercise or
any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, recovered from, disgorged by or
are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or any other Person under any law (including,
without limitation, any bankruptcy law, state or federal law, common law or equitable cause of action), then to the extent of any such
restoration the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect
as if such payment had not been made or such enforcement or setoff had not occurred.

 

6.17          Usury.
To the extent it may lawfully do so, the Company hereby agrees not to insist upon or plead or in any manner whatsoever claim, and will
resist any and all efforts to be compelled to take the benefit or advantage of, usury laws wherever enacted, now or at any time hereafter
in force, in connection with any claim, action or proceeding that may be brought by any Purchaser in order to enforce any right or remedy
under any Transaction Document. Notwithstanding any provision to the contrary contained in any Transaction Document, it is expressly
agreed and provided that the total liability of the Company under the Transaction Documents for payments in the nature of interest shall
not exceed the maximum lawful rate authorized under applicable law (the “Maximum Rate”), and, without limiting the
foregoing, in no event shall any rate of interest or default interest, or both of them, when aggregated with any other sums in the nature
of interest that the Company may be obligated to pay under the Transaction Documents exceed such Maximum Rate. It is agreed that if the
maximum contract rate of interest allowed by law and applicable to the Transaction Documents is increased or decreased by statute or
any official governmental action subsequent to the date hereof, the new maximum contract rate of interest allowed by law will be the
Maximum Rate applicable to the Transaction Documents from the effective date thereof forward, unless such application is precluded by
applicable law. If under any circumstances whatsoever, interest in excess of the Maximum Rate is paid by the Company to any Purchaser
with respect to indebtedness evidenced by the Transaction Documents, such excess shall be applied by such Purchaser to the unpaid principal
balance of any such indebtedness or be refunded to the Company, the manner of handling such excess to be at such Purchaser’s election.

 

6.18         Independent
Nature of Purchasers’ Obligations and Rights. The obligations of each Purchaser under any Transaction Document are several and
not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance or non-performance
of the obligations of any other Purchaser under any Transaction Document. Nothing contained herein or in any other Transaction Document,
and no action taken by any Purchaser pursuant hereto or thereto, shall be deemed to constitute the Purchasers as a partnership, an association,
a joint venture or any other kind of entity, or create a presumption that the Purchasers are in any way acting in concert or as a group
with respect to such obligations or the transactions contemplated by the Transaction Documents. Each Purchaser shall be entitled to independently
protect and enforce its rights, including, without limitation, the rights arising out of this Agreement or out of the other Transaction
Documents, and it shall not be necessary for any other Purchaser to be joined as an additional party in any proceeding for such purpose.
Each Purchaser has been represented by its own separate legal counsel in its review and negotiation of the Transaction Documents. The
Company has elected to provide all Purchasers with the same terms and Transaction Documents for the convenience of the Company and not
because it was required or requested to do so by any of the Purchasers.

 

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6.19         Liquidated
Damages. The Company’s obligations to pay any partial liquidated damages or other amounts owing under the Transaction Documents
is a continuing obligation of the Company and shall not terminate until all unpaid partial liquidated damages and other amounts have been
paid notwithstanding the fact that the instrument or security pursuant to which such partial liquidated damages or other amounts are due
and payable shall have been canceled.

 

6.20         Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business
Day.

 

6.21         Construction.
The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise the Transaction Documents
and, therefore, 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 the Transaction Documents or any amendments thereto. In addition, each and every reference
to share prices and shares of Common Stock in any Transaction Document shall be subject to adjustment for reverse and forward stock splits,
stock dividends, stock combinations and other similar transactions of the Common Stock that occur after the date of this Agreement.

 

6.22         WAIVER
OF JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES EACH
KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY
AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY.

 

(Signature Pages Follow)

 

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IN WITNESS WHEREOF, the parties
hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first
indicated above.

 

	CorpHousing Group Inc.	 	Address for Notice:  
	 	 	 
	 	 	2125 Biscayne Blvd., Suite 253
	 	 	Miami, Florida 33137
	By:	 	 	E-Mail: brian@corphousinggroup.com
	 	Name: Brian Ferdinand	 	 
	 	Title: Chief Executive Officer	 	 
	 	 	 	 
	With a copy to (which shall not constitute notice):	 	Graubard Miller
	 	 	425 Lexington Avenue
	 	 	New York, New York 10174
	 	 	Attention: Brian Ross
	 	 	E-Mail: BRoss@graubard.com

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK 

SIGNATURE PAGE FOR PURCHASER FOLLOWS]

 

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[PURCHASER SIGNATURE PAGES TO SECURITIES PURCHASE
AGREEMENT]

 

IN WITNESS WHEREOF, the undersigned
have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated
above.

 

	Name of Purchaser:	Greenle Partners LLC Series Alpha P.S.
	 	 
	Signature of Authorized Signatory of Purchaser:	 	 
	 	 
	Name of Authorized Signatory:	Alan Uryniak
	 	 
	Title of Authorized Signatory:	Manager
	 	 
	Email Address of Authorized Signatory:	 auryniak@gmail.com
	 	 
	Email Addresses for Offering Notices:	jpazdro@egcmllc.com
	 	auryniak@gmail.com
	 	ehellige@pryorcashman.com
	 	 
	Address for Notice to Purchaser:	156 W Saddle River Road
	 	Saddle River, New Jersey 07458

 

Address for Delivery of Securities to Purchaser (if not same as address
for notice):

 

Aggregate Subscription Amount: $5,000,000

 

$5,750,000
aggregate principal amount of Notes (15% OID)

 

Warrants for a number of shares of Common Stock set
forth in the form of Warrant attached
hereto as Exhibit B at an exercise price set forth in such form of Warrant.

 

Pro Rata Percentage of Revenue Share: 100%

 

First Closing: Subscription Amount: $700,000

 

$805,000 aggregate principal amount of Notes

 

Warrants for a number of shares of Common Stock set
forth in the form of Warrant attached
hereto as Exhibit B at an exercise price set forth in such form of Warrant.

 

Pro Rata Percentage of Revenue Share: 100%

 

Second Closing: Subscription Amount: $1,000,000

 

$1,150,000 aggregate principal amount of Notes

 

Warrants for a number of shares of Common Stock set
forth in the form of Warrant attached
hereto as Exhibit B at an exercise price set forth in such form of Warrant.

 

Pro Rata Percentage of Revenue Share: 100%

 

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Third Closing: Subscription Amount: $700,000

 

$805,000 aggregate principal amount of Notes

 

Warrants for a number of shares of Common Stock set
forth in the form of Warrant attached
hereto as Exhibit B at an exercise price set forth in such form of Warrant.

 

Pro Rata Percentage of Revenue Share: 100%

 

	EIN Number:	 	 	 

 

    39

    

    

 

COMPANY DISCLOSURE SCHEDULES

 

Schedule 3.1(d)

 

Under the terms of the leases for the Company’s accommodation
units, assignment of such leases, including by operation of law (including specially any mortgaging, placing of liens, etc.) are
prohibited without the consent of the landlords party thereto. Accordingly, the granting of security interests as prescribed by this Purchase
Agreement and the other agreements contemplated hereby would violate such provisions.

 

Schedule 3.1(i)

 

SuperLuxMia LLC, an entity owned and controlled by Brian Ferdinand,
purchased notes and warrants from the Company for gross proceeds of approximately $600,000 as additional issuances of 2022 Insider Bridge
Financing as defined in the Registration Statement.

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