Document:

Exhibit 10.26

 

Execution Version

 

TERM LOAN AGREEMENT

 

This Term Loan Agreement (this “Agreement”)
is entered into as of February 9, 2016, by and between SoftBank Group International Limited, a company organized under the laws of England
and Wales (the “Lender”), and Airspan Networks Inc., a Delaware corporation (the “Borrower”).

 

WHEREAS, the Borrower requested that the
Lender make a term loan to Borrower for the purpose of financing the manufacture of units of the Borrower’s products for Sprint’s
Network, and the Lender is prepared to make such a term loan on and subject to the terms and conditions hereof.

 

NOW, THEREFORE, in consideration of the
covenants and agreements herein contained, the Lender and Borrower agree as follows:

 

Section
1. definitions.

 

The following terms shall have the meanings set
forth below:

 

		1.1	“Business Day” shall mean a day, other than
a Saturday or Sunday, on which banks are open for business in London, England and in New York, New York.

 

		1.2	“Change of Control” shall mean (a) the acquisition
of ownership, directly or indirectly, beneficially or of record, by any person or group of persons acting jointly or otherwise in concert
of capital stock representing more than 50% of the aggregate ordinary voting power represented by the issued and outstanding capital
stock of Borrower, or (b) the acquisition of direct or indirect Control of Borrower by any person or group of persons acting jointly
or otherwise in concert; in each case whether as a result of a tender or exchange offer, open market purchases, privately negotiated
purchases or otherwise.

 

		1.3	“Code” shall mean the Internal Revenue Code
of 1986, as amended, reformed or otherwise modified from time to time.

 

		1.4	“Compliance Certificate” shall have the meaning
set forth in Section 4.2(b) hereof.

 

		1.5	“Control” shall mean, in respect of a particular
person, the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such person,
whether through the ability to exercise voting power, by contract or otherwise.

 

		1.6	“Event of Default” shall have the meaning
set forth in Section 5.1 hereof.

 

		1.7	“Government Agency” shall mean any state,
municipal or other governmental department, commission, board, bureau, agency or instrumentality, or any court, in each case whether
of the United States of America, England or another country.

 

		1.8	“Interest Payment Date” shall mean, with respect
to the relevant Interest Period, each of March 31, June 30, September 30 and December 31 of each year; provided however that:
(i) the first Interest Payment Date shall be on March 31, 2016 (“First Interest Payment Date”); and (ii) the final
Interest Payment Date shall be on the Maturity Date or, if applicable, such earlier date as provided in Section 2.3. If an Interest Payment
Date does not fall on a Business Day, then such Interest Payment Date shall be deemed to fall on the preceding day that is a Business
Day.

 

		1.9	“Interest Period” shall mean the period commencing
from and including the date the Loan is made under this Agreement and ending on and including the First Interest Payment Date and thereafter
each successive period commencing on and including the date immediately following the last preceding Interest Payment Date and ending
on and including the next succeeding Interest Payment Date.

 

     

     

    

 

		1.10	“Law” shall mean any convention or treaty,
law, ordinance, decree, rule, directive, regulation, judicial or arbitral decision, or any voluntary restraint, policy or guideline not
having the force of law but compulsory in character and any of the provisions of such Laws binding on or affecting the party referred
to in the context in which the term is used.

 

		1.11	“Loan” shall have the meaning set forth in
Section 2.1 hereof.

 

		1.12	“Mandatory Prepayment Event” shall have the
meaning set forth in Section 2.4 hereof.

 

		1.13	“Material Loan Agreement” shall have the meaning
set forth in Section 4.2(d) hereof.

 

		1.14	“Maturity Date” shall mean February 9, 2018
or, if such date is not a Business Day, the immediately preceding Business Day, but which may be subsequently amended upon agreement
of the applicable parties.

 

		1.15	“Monthly Financial Statements” shall have
the meaning set forth in Section 4.2(a) hereof.

 

		1.16	“Proceeds Account” shall have the meaning
set forth in Section 4.3 hereof.

 

		1.17	“Senior Debt” shall mean the indebtedness
incurred by the Borrower under the terms and conditions of the Senior Loan Agreement.

 

		1.18	“Senior Lender” shall mean Pacific Western
Bank, or any assignee or successor thereof.

 

		1.19	“Senior Loan Agreement” shall mean that certain
Loan and Security Agreement dated as of August 15, 2011 by and among the Senior Lender, as lender, and the Borrower and its subsidiaries
party thereto, as borrowers (as amended, restated, supplemented or otherwise modified from time to time and any replacement facility
therefor to the extent permitted under the Subordination Agreement).

 

		1.20	“Subordination Agreement” shall mean that
certain Subordination Agreement dated as of the date hereof by and between the Lender and the Senior Lender (as amended, restated, supplemented
or otherwise modified from time to time).

 

		1.21	“US Dollar” and the sign “$”
shall mean the dollar in the lawful currency of the United States of America.

 

Section
2. THE LOAN.

 

2.1 The
Loan

 

On the date hereof, the
Lender shall advance to the Borrower a term loan in an original principal amount equal to US$15,000,000 (the “Loan”).
The Loan shall be subordinated to the Senior Debt pursuant to terms of the Subordination Agreement.

 

2.2 Interest

 

		(a)	Interest shall accrue from the date hereof at 2.475% per annum,
except that subject to Section 3.2 below, if any applicable Law requires the deduction or withholding of any tax from any payment made
by the Borrower hereunder, the applicable interest rate shall be 3.53% per annum, starting from the date such deduction or withholding
of tax is first required under applicable Law. Interest shall be calculated in accordance with the actual number of days elapsed during
the Interest Period on the basis of a 365-day year, and shall be calculated daily, based on the entire principal amount outstanding under
the Loan as at the end of such day.

 

		(b)	The Borrower shall pay to the Lender interest accrued during
the applicable Interest Period on each Interest Payment Date.

 

    2

     

    

 

2.3 Repayment

 

		(a)	The Borrower may prepay the Loan in whole or in part at any time
without premium or penalty following a written notice by the Borrower to the Lender at least 10 days prior to such prepayment. All sums
to be paid to the Lender under such prepayment shall be payable in US Dollars and in immediately available funds on the day specified
in such notice by payment to such account of the Lender as shall be specified by the Lender in writing. All amounts prepaid shall not
be reborrowed.

 

		(b)	Subject to any acceleration of the Loan pursuant to Sections
5.1 and 5.2 hereof, if not paid earlier, the Borrower shall repay to the Lender the entire principal amount under the Loan then outstanding
in one lump sum, concurrently with all interest accrued but unpaid pursuant to Section 2.2 above, on the Maturity Date. All sums payable
to the Lender shall be payable in US Dollars and in immediately available funds on the Maturity Date to the Lender by payment to such
account of the Lender as shall be specified by the Lender in writing.

 

2.4 Mandatory
Prepayment

 

The occurrence of a Change
of Control shall constitute a “Mandatory Prepayment Event” under this Agreement.

 

Upon a Mandatory Prepayment
Event and upon prior written notice from the Lender to the Borrower, the aggregate outstanding principal amount under the Loan and all
interest accrued but unpaid in accordance with Section 2.2 hereof shall become immediately due and payable.

 

2.5 Order
of Payment

 

Except as otherwise explicitly stated herein,
the allocation of all payments made by the Borrower under this Section 2 between the accrued interest outstanding as of the date of such
payment and the principal of the Loan then outstanding shall be determined by the Lender in its sole discretion.

 

Section
3. NO SET-OFF AND TAX; REPRESENTATIONS AND WARRANTIES

 

3.1 No Set-off

 

All sums payable by the
Borrower hereunder, whether of principal, interest, fees or expenses or otherwise, shall be paid in full and without set-off or counterclaim
and free of any deductions.

 

3.2 Tax

 

The Lender shall provide
the Borrower with such completed and executed IRS forms as prescribed by applicable Law and that the Lender is legally entitled to provide
in order to establish the applicability of the portfolio interest exemption of Section 881(c) of the Code, including a duly completed
and validly executed From W-8BEN-E. Notwithstanding the foregoing, if any applicable Law requires the deduction or withholding of any
tax from any payment made by the Borrower hereunder, then the Borrower shall make such deduction or withholding and shall timely pay the
full amount deducted or withheld to the relevant governmental authority in accordance with applicable Law; however, in such event, the
interest rate hereunder shall be increased in accordance with Section 2.2. In the event that any tax is withheld, the Borrower shall provide
the Lender with an official certificate from the applicable governmental authority demonstrating the payment of such tax.

 

    3

     

    

 

3.3 Borrower
Representations and Warranties

 

The Borrower represents and warrants as follows:

 

		(a)	The execution, delivery and performance by the Borrower of this
Agreement, including the Borrower’s drawdown of the Loan and any subsequent repayment, does not and will not violate or conflict
with or result in the breach of the provisions of, or require any notice or consent under, any of the organizational documents of the
Borrower, any Law or any material contract or Material Loan Agreement of the Borrower.

 

		(b)	It is and will remain in compliance with all applicable anti-corruption
laws or regulations, including but not limited to the United States Foreign Corrupt Practices Act and the UK Bribery Act 2010, and it
has not been found by any governmental authority to have violated, and has no knowledge or reason to believe that any governmental authority
is considering any proceeding related to, any of the foregoing.

 

		(c)	It is and will remain in compliance with all applicable sanctions
programs administered by any governmental authority, including sanctions administered by the Office of Foreign Assets Control of the
United States Treasury Department (collectively, “Sanctions”). The Borrower will not directly or indirectly use the
Loan or any portion thereof for the purpose of financing or facilitating the activities of any person or entity in any jurisdiction that,
at the time of such financing or facilitating, is subject to or the target of any Sanctions, or in a manner that will otherwise result
in a violation of Sanctions by any person.

 

Section
4. COVENANTS

 

4.1 Use
of Funds

 

The Borrower shall use the
Loan solely for the purpose of financing the manufacture of units of the Borrower’s products for Sprint’s Network through
the purchase of products and component parts from Foxconn and/or Flextronics or an equivalent seller or component supplier.

 

4.2 Reporting

 

The Borrower shall provide the Lender
the following:

 

		(a)	As soon as available but no later than thirty (30) days after
the last day of each month, a company prepared consolidated balance sheet and income statement covering Borrower’s consolidated
operations for such month certified by an officer of the Borrower and in a form substantially similar to such balance sheet and income
statement delivered to the Senior Lender pursuant to the Senior Loan Agreement (the “Monthly Financial Statements”).

 

    4

     

    

 

		(b)	Within thirty (30) days after the last day of each month and
together with the Monthly Financial Statements, a duly completed compliance certificate signed by an officer of the Borrower (the “Compliance
Certificate”), certifying that as of the end of such month, Borrower was in full compliance with all of the terms and conditions
of this Agreement, including the use of funds in accordance with Section 4.1 and such other information as the Lender may reasonably
request. The Compliance Certificate delivered in conjunction with each Interest Payment Date shall also certify the cash balance held
in the Proceeds Account as of such Interest Payment Date.

 

		(c)	As soon as available, but no later than one hundred eighty (180)
days after the last day of Borrower’s fiscal year, company prepared consolidated financial statements prepared under GAAP, consistently
applied, commensurate with those provided to the Borrower’s board of directors; provided, however, that if audited consolidated
financial statements are required by the Borrower’s board of directors, Borrower shall deliver not later than one hundred eighty
(180) days after the last day of each such fiscal year, audited consolidated financial statements prepared under GAAP, consistently applied,
together with an unqualified opinion on the financial statements from an independent certified public accounting firm reasonably acceptable
to the Lender.

 

		(d)	Prompt notice of the occurrence of (i) any Event of Default,
(ii) any default (beyond the applicable cure or grace period applicable thereto) under any loan agreement to which the Borrower is a
party with a principal amount exceeding $1,000,000 (a “Material Loan Agreement”), or (iii) any event that has caused
or could reasonably be expected to cause a material adverse effect on the operations, properties, business or condition (financial or
otherwise) of the Borrower.

 

		(e)	Such other financial information about the Borrower as the Lender
may reasonably request from time to time, including all purchase orders or other supporting documentation, as applicable, entered into
by Borrower showing the use of funds in accordance with Section 4.1.

 

4.3 Cash Balance

 

The Borrower shall maintain
any unutilized cash proceeds of the Loan at an account at the Senior Lender designated by the Borrower to be the sole account holding
such proceeds (the “Proceeds Account”).

 

4.4 Indebtedness

 

Without the prior written
consent of the Lender, any additional indebtedness for borrowed money incurred by the Borrower after the date hereof (other than indebtedness
incurred under the Senior Loan Agreement) must rank pari passu with or be subordinated to the Loan and all other obligations of the Borrower
owing to the Lender under this Agreement in a manner reasonably satisfactory to the Lender.

 

Section
5. EVENTS OF DEFAULT

 

5.1 Events
of Default

 

Each of the following events
and occurrence (whatsoever the reason for such event or occurrence, whether voluntary or involuntary or whether effected by operation
of Law or pursuant to the order of any Government Agency or otherwise) shall constitute an “Event of Default” under
this Agreement:

 

		(a)	the Borrower fails to pay any principal or interest amount payable
by it hereunder at the time due, in the currency and in the manner specified herein, provided that such failure to pay interest continues
for more than 2 Business Days;

 

		(b)	the Borrower fails to pay any other amount payable by it hereunder
at the time due, in the currency and in the manner specified herein and such failure continues for more than 10 Business Days following
written notice from the Lender to the Borrower of such failure;

 

    5

     

    

 

		(c)	the Borrower materially defaults in the performance of any term,
condition or covenant of this Agreement (other than a default in the payment of principal, interest or other amount payable pursuant
to this Agreement) and such default has not been cured or remedied for more than 15 Business Days following written notice from the Lender
to the Borrower of such default, provided that, if the Borrower fails to deliver the audited financial statements required under Section
4.2(c) when due thereunder, such failure shall not constitute an Event of Default under this Agreement to the extent the Borrower fails
to deliver such audited financial statements under the Senior Loan Agreement and such failure is waived by the Senior Lender;

 

		(d)	the Borrower (i) is unable to pay its debts as they become due
or (ii) makes a general assignment for the benefit of creditors or institutes any proceeding seeking to adjudicate the Borrower as bankrupt
or insolvent or otherwise seeks the appointment of a receiver, liquidator, trustee, custodian, administrator or other similar official
for it or any substantial portion of its property necessary to conduct the business in which the Borrower engages at the date hereof,
or the Borrower shall authorize the taking of any such action;

 

		(e)	the Borrower consents to the institution of bankruptcy or insolvency
proceedings against it or to the filing of a petition seeking administration or reorganization of the Borrower under any bankruptcy,
reorganization or insolvency or similar applicable Law; or

 

		(f)	a court enters a decree or order adjudging the Borrower as bankrupt
or insolvent, or approving as properly filed a petition seeking reorganization, readjustment, arrangement, composition or similar relief
for the Borrower under bankruptcy, reorganization or insolvency or similar applicable Law or a decree or order of a court having jurisdiction
for the appointment of a receiver, liquidator, administrator, trustee or assignee in bankruptcy, reorganization or insolvency of the
Borrower or a substantial part of its property necessary to conduct business in which the Borrower engages at the date hereof or for
the winding-up or liquidation of any of its property shall have been entered (other than for the purposes of or pursuant to an amortization,
merger or reconstruction under which the rights of the Lender are not impaired and the continuing entity effectively assumes the entire
obligation of the Borrower in respect of the Loan).

 

5.2 Consequence
of Default

 

If any Event of Default
(other than under Sections 5.1(d), (e) or (f)) shall occur and be continuing, the Lender may by written notice to the Borrower declare
the aggregate outstanding principal amount under the Loan to be immediately due and payable together with any interest accrued but unpaid
in accordance with Section 2.2 hereof and the Loan and such interest amount shall thereupon become due and payable without presentment,
demand, protest or notice of any kind, other than the notice specifically required by this Section 5.2, all of which are expressly waived
by the Borrower.

 

If an Event of Default (other
than under Sections 5.1(d), (e) or (f))) shall occur, it may be waived by a notice to the Borrower from the Lender. No waiver of any Event
of Default shall constitute waiver of any other or any succeeding Event of Default except to the extent provided in such waiver.

 

If an Event of Default under
Sections 5.1(d), (e) or (f) shall occur, the aggregate outstanding principal amount under the Loan shall be immediately due and payable
together with any interest accrued but unpaid in accordance with Section 2.2 hereof without presentment, demand, protest or notice of
any kind, all of which are hereby waived by the Borrower.

 

    6

     

    

 

Section
6. MISCELLANEOUS

 

6.1 Term

 

The term of this Agreement
shall commence on the date first set forth above and shall end upon payment in full of all principal, interest and other sums payable
by the Borrower hereunder (other than any unasserted indemnity obligations).

 

6.2 Entire
Agreement

 

This Agreement and the documents
provided for hereunder constitute the entire obligation of the parties hereto with respect to the subject matter hereof and thereof and
shall supersede any prior expressions of intent or understandings with respect to this transaction. The written consent of all the parties
hereto shall be required for an amendment to this Agreement or any waiver of the terms hereof.

 

6.3 Waiver;
Cumulative Rights

 

The failure or delay of
each party to require performance by the other party of any provision of this Agreement shall not affect its right to require performance
of such provision unless and until such performance has been waived by the party in writing in accordance with the terms hereof. Each
and every right granted to the parties hereunder or under any other document delivered hereunder or in connection herewith, shall be cumulative
and may be exercised in part or in whole from time to time.

 

6.4 Assignment

 

This Agreement shall be
binding upon and shall be enforceable by the Borrower and the Lender and
their respective successors and assignees; provided, however, that: (a) Borrower shall not have the right to assign its
rights or obligations hereunder without the prior written consent of the Lender; and (b) Lender shall not have the right to assign its
rights and obligations hereunder to any person other than a consolidated subsidiary of SoftBank Group International Limited without the
prior written consent of the Borrower. In the event of an assignment made by Lender to a consolidated subsidiary of SoftBank Group International
Limited, (a) Lender shall provide Borrower with sufficient details of the assignee to enable the Borrower to continue complying with its
obligations hereunder and (b) Borrower shall not be responsible for any costs, expenses, taxes or fees resulting from such assignment.

 

6.5 Register

 

The Borrower shall maintain
at its principal office in Boca Raton, Florida a copy of any assignment and assumption delivered to it and a register for the recordation
of the names and addresses of the Lender and the principal amount (and stated interest) of the loan owing to the Lender pursuant to the
terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error,
and the Borrower and the Lender shall treat each person whose name is recorded in the Register pursuant to the terms hereof as a Lender
hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Lender, at any reasonable time and
from time to time upon reasonable prior notice.

 

6.6 Costs,
Expenses and Stamp Duties

 

		(a)	The Lender agrees that the costs and expenses (including reasonable
legal fees) incurred by the Lender in connection with the negotiation and preparation of this Agreement shall be for the Lender’s
account.

 

		(b)	The Borrower shall, if an Event of Default occurs and continues,
on written demand of the Lender reimburse all reasonable and documented expenses (including reasonable legal fees) incurred by the Lender
in connection with such Event of Default and the lawful enforcement of any of the rights of the Lender against the Borrower under this
Agreement.

 

		(c)	Except as otherwise explicitly stated herein, the Borrower shall
pay any stamp or documentary taxes or any similar duties or levies imposed on the Borrower or the Lender in connection with the execution,
delivery, registration, performance or enforcement of this Agreement.

 

    7

     

    

 

6.7 Governing
Law and Jurisdiction

 

This Agreement shall be
governed by, and construed and enforced in accordance with, the laws of New York, without regard to its principles of conflicts of laws.
The Lender and the Borrower hereby consent to jurisdiction of any federal or state court located in the County of New York, New York.

 

6.8 Notices

 

Unless otherwise specifically
provided for herein, any notice required or permitted to be given hereunder shall be in writing and shall be (a) personally delivered,
(b) transmitted by postage prepaid registered mail or by internationally recognized courier service, (c) transmitted by facsimile or (d) transmitted
by electronic mail to the parties hereto as follows (as elected by the party giving such notice):

 

To the Lender: SoftBank Group International
Limited

1 Circle Star Way

San Carlos, CA 94070

Attn: General Counsel

Email: legal@softbank.com

Facsimile: +1 650 474 0963

 

To the Borrower: Airspan Network Inc.

777 Yamato Road, Suite 310

Boca Raton, FL 33431

USA

Attn: David Brant

Email: DBrant@Airspan.com

Facsimile: +1 561 893 8671

 

Except as otherwise specified
herein, all notices and other communications shall be deemed to have been duly given on (i) the date of receipt if delivered personally
or by courier, (ii) the date seven days after posting if transmitted by mail, (iii) the date of receipt of the postage prepaid mail confirmation
if transmitted by facsimile or (iv) on the date sent if sent by electronic mail during normal business hours of the recipient during a
Business Day (and otherwise on the next Business Day), whichever shall first occur. Either party may change its address for purposes hereof
by notice to the other in accordance with this Section 6.8.

 

6.9 Dates
and Times

 

Except as explicitly provided
for in Section 2.1, the relevant time zone for all dates and times in this Agreement shall be London Greenwich Time.

 

6.10 Counterparts

 

This Agreement may be signed
in counterparts. Any single counterpart or a set of counterparts signed, in either case, by all the parties hereto shall constitute a
full and original agreement for all purposes.

 

6.11 Confidentiality

 

The Lender agrees to use
the same degree of care that it exercises with respect to its own proprietary information, to maintain the confidentiality of any and
all proprietary, trade secret or confidential information provided to or received by Lender from the Borrower, which indicates that it
is confidential or would reasonably be understood to be confidential, including business plans and forecasts, non-public financial information,
confidential or secret processes, formulae, devices and contractual information, customer lists, and employee relation matters, provided
that the Lender may disclose such information to its officers, directors, employees, attorneys, accountants, affiliates, to other persons
to whom the Lender shall at any time be required to make such disclosure in accordance with applicable law, and to assignees and prospective
assignees permitted under this Agreement who agree in writing to be bound by confidentiality obligations substantially similar to those
set forth in this Section 6.11, and provided, that the foregoing provisions shall not apply to disclosures made by the Lender (acting
reasonably) in connection with the enforcement of its rights or remedies after the Lender gives the Borrower notice of an Event of Default.

 

[remainder of page intentionally left blank]

 

    8

     

    

 

IN WITNESS WHEREOF, the parties hereto have caused
this Agreement to be executed by their respective duly authorized representatives as of the day and year first above written.

 

	 	SoftBank Group International Limited
	 	 	 
	 	By:	/s/ Nikesh Arora
	 	Name: 	Nikesh Arora
	 	Title: 	President
	 	 	 
	 	Airspan Networks Inc.
	 	 	 
	 	By:	/s/ David Brant
	 	Name: 	David Brant
	 	Title: 	CFO

 

[Signature Page to Term Loan Agreement]Exhibit 10.27

 

AMENDMENT NO. 1 TO LOAN AGREEMENT

 

This Amendment
No. 1 to Loan Agreement, dated as of July 12, 2016 (this “Amendment”), is made by and between SoftBank
Group Capital Limited (formerly known as SoftBank Group International Limited), a company organized under the laws of England and
Wales (the “Lender”), and Airspan Networks Inc., a Delaware corporation (the “Borrower”).

 

RECITALS

 

WHEREAS,
the Lender and the Borrower have entered into that certain Term Loan Agreement, dated as of February 9, 2016 (the “Loan
Agreement”), providing for a loan in an original principal amount equal to US$15,000,000 from the Lender to the Borrower.

 

WHEREAS, the Lender wishes
to lend an additional US$15,000,000 to the Borrower.

 

WHEREAS,
the parties hereto desire to amend the Loan Agreement on the terms and subject to the conditions set forth herein.

 

NOW, THEREFORE,
for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged by each of the parties hereto, the
parties hereto, intending to be legally bound, do hereby agree as follows:

 

Section
1. Definitions. All capitalized terms used in this Amendment (including in the recitals hereof) and not otherwise defined herein
shall have the meanings assigned to them in the Loan Agreement.

 

Section 2. Amendment.

 

(a) Section
1.9 of the Loan Agreement is hereby amended and restated in its entirety as follows:

 

“1.9 “Interest
Period” shall mean, with respect to an Advance, the period commencing from and including the date such Advance is made
under this Agreement and ending on and including the first Interest Payment Date immediately following the date such Advance is
made, and thereafter each successive period commencing on and including the date immediately following the last preceding Interest
Payment Date and ending on and including the next succeeding Interest Payment Date.”

 

    1

     

    

 

(b) Section
2.1 of the Loan Agreement is hereby amended and restated in its entirety as follows:

 

“2.1 The Loan

 

On
February 9, 2016, the Lender advanced to the Borrower a term loan in an original principal amount equal to US$15,000,000 (the
“Initial Advance”). On July 12, 2016, the Lender shall advance to the Borrower a second term loan in an
original principal amount equal to US$15,000,000 (the “Second Advance”, and with the Initial Advance, each
an “Advance”, and collectively, the “Loan”). The Loan shall be subordinated to the
Senior Debt pursuant to terms of the Subordination Agreement.”

 

(c) Section
2.2(a) of the Loan Agreement is hereby amended and restated in its entirety as follows:

 

“2.2 Interest

 

(a) With
respect to each Advance, interest shall accrue from the date such Advance is made at 2.475% per annum, except that subject to Section
3.2 below, if any applicable Law requires the deduction or withholding of any tax from any payment made by the Borrower hereunder,
the applicable interest rate shall be 3.53% per annum, starting from the date such deduction or withholding of tax is first required
under applicable Law. Interest shall be calculated in accordance with the actual number of days elapsed during the Interest Period
on the basis of a 365-day year, and shall be calculated daily, based on the entire principal amount outstanding under the Loan
as at the end of such day.”

 

Section 3.Conditions of Effectiveness.The
effectiveness of Section 2 shall be subject to the following conditions precedent:

 

(a) The
Borrower shall have provided the Lender (i) certified copies of the resolutions of the Board of Directors (or shareholders, if
applicable) of the Borrower authorizing the making and performance by it of this Amendment, (ii) certified copies of the organizational
documents of the Borrower, as amended to date, and (iii) official certificates of good standing in Delaware and Florida, dated
no earlier than 30 days prior to the date hereof.

 

(b) The
Lender shall have received a written consent from the Senior Lender approving the Second Advance and the other transactions contemplated
by this Amendment.

 

(c) No
Event of Default under the Loan Agreement has occurred and is continuing or will result after giving effect to this Amendment.

 

(d) The
representations and warranties in Section 4(a) shall be true and correct on the date hereof.

 

Section 4.Representations and Warranties;
Reaffirmation.

 

		(a)	The Borrower hereby represents and warrants to the Lender as follows:

 

(1) This
Amendment has been duly authorized, executed and delivered by the Borrower and constitutes the legal, valid and binding
agreement of the Borrower, enforceable in accordance with its terms (subject, as to enforcement, to (x) the effect of
applicable bankruptcy, insolvency, examinership or similar laws affecting the enforcement or creditors’ rights and (y)
general principles of equity). The execution, delivery and performance by the Borrower of this Amendment is within the
Borrower’s powers.

 

    2

     

    

 

(2) The
execution, delivery and performance by the Borrower of this Agreement do not (i) conflict with any of the Borrower’s organizational,
constitutional or constituent documents; (ii) contravene, conflict with, constitute a default under or violate any Law; (iii) contravene,
conflict or violate any applicable order, writ, judgment, injunction, decree, determination or award of any Government Agency by
which the Borrower or any of its property or assets may be bound or affected; (iv) require any action by, filing, registration,
or qualification with, or permit from, any Government Agency; or (v) constitute a default under or conflict with any material agreement
to which the Borrower is bound.

 

(3) No
Event of Default under the Loan Agreement has occurred and is continuing or will result after giving effect to this Amendment.

 

(b) The
Borrower hereby ratifies, confirms, reaffirms, and acknowledges its obligations under the Loan Agreement and agrees that the Loan
Agreement remains in full force and effect, undiminished by this Amendment, except as expressly provided herein. By executing this
Amendment, the Borrower acknowledges that it has read, consulted with its attorneys regarding, and understands, this Amendment.

 

Section 5.CHOICE OF LAW AND JURY TRIAL
WAIVER

 

(a) THIS
AMENDMENT AND THE RIGHTS, REMEDIES AND OBLIGATIONS OF
THE PARTIES HERETO, AND ANY CLAIM, CONTROVERSY OR DISPUTE
ARISING UNDER OR RELATED TO THIS AMENDMENT, THE RELATIONSHIP
OF THE PARTIES, AND/OR THE INTERPRETATION AND ENFORCEMENT
OF THE RIGHTS AND DUTIES OF THE PARTIES AND ALL OTHER MATTERS RELATING HERETO OR ARISING THEREFROM (WHETHER
SOUNDING IN CONTRACT LAW, TORT LAW OR OTHERWISE), SHALL
BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK,
WITHOUT REGARD TO ITS PRINCIPLES OF CONFLICT OF LAWS.

 

(b) TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE BORROWER,
AND THE LENDER EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING
OUT OF OR BASED UPON THIS AMENDMENT, INCLUDING
CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER
CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR THE PARTIES TO ENTER INTO THIS AMENDMENT.
EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL.

 

Section 6.Miscellaneous.

 

(a) Severability
of Provisions. Each provision of this Amendment is severable from every other provision in determining the enforceability of
any provision.

 

(b) Integration.
This Amendment and the Loan Agreement represent the entire agreement about this subject matter and supersede prior negotiations
or agreements. All prior agreements, understandings, representations, warranties, and negotiations among the parties about the
subject matter of this Amendment and the Loan Agreement merge into this Amendment and the Loan Agreement.

 

    3

     

    

 

(c) Counterparts.
This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which,
when executed and delivered, is an original, and all taken together, constitute one Agreement. Delivery of an executed signature
page of this Amendment by facsimile transmission or electronic transmission shall be as effective as delivery of a manually executed
counterpart hereof.

 

(d) No
Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of this Amendment. In the
event an ambiguity or question of intent or interpretation arises, this Amendment shall be construed as if drafted jointly by the
parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship
of any provisions of this Amendment.

 

[signatures to follow]

 

    4

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused this Amendment to be executed as of the date first above written.

 

	 	LENDER:
	 	 
	 	SOFTBANK GROUP CAPITAL LIMITED
	 	 
	 	By:	/s/ Jonathan Bullock
	 	Name:	Jonathan Bullock
	 	Title:	Corporate Secretary
	 	 
	 	BORROWER:
	 	 
	 	AIRSPAN NETWORKS INC.
	 	 
	 	By:	/s/ David Brant
	 	Name: 	David Brant
	 	Title:	Chief Financial Officer

 

    5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}]]