Document:

Exhibit 10.69

 

UNSECURED PROMISSORY NOTE

 

	$3,500,000	December 10, 2014

 

FOR VALUE RECEIVED,
CIG Wireless Corp., a Nevada corporation (“Borrower”) hereby promises to pay to the order of Fir Tree Capital
Opportunity (LN) Master Fund, L.P., a Cayman Islands exempted limited partnership (the “Holder”), at such place
as the holder of this Note may designate in writing from time to time, in lawful money of the United States, the principal sum
of THREE MILLION FIVE HUNDRED THOUSAND DOLLARS ($3,500,000.00), together with accrued interest thereon, as hereinafter provided.

 

Interest on the principal
balance of this Note shall accrue quarterly at the rate of fifteen percent (15%) per annum, calculated on the basis of a 360 day
year and actual number of days elapsed (but in no event in excess of the maximum rate permitted by applicable law). Interest from
and after maturity (whether as stated or by acceleration) and after the entry of any judgment on this Note shall be at the rate
equal to five percent (5%) per annum above the rate charged hereunder on the date of such maturity (or if such rate shall not be
lawful with respect to Borrower, at the highest lawful rate then in effect). Interest shall be payable quarterly on the last business
day of each March, June, September and December; provided that at the option of Borrower, such interest may be added to the principal
amount of this Note and treated as principal for all purposes hereunder (and accrue further interest from and after such due date
at the applicable interest rate specified above).

 

Borrower shall pay
all outstanding principal, accrued interest and any other sums outstanding under this Note on the earlier of: (i) August 1, 2018;
(ii) the date on which such amounts due hereunder are accelerated in accordance with the terms of this Note; (iii) the occurrence
of a “Liquidation Event” as defined in the Certificate of Designation (as defined below); or (iv) the date on which
Borrower’s Series A-1 Non-Convertible Preferred Stock is redeemed or redeemable (the “Maturity Date”).
If any such date shall not be a business day, then the scheduled payment shall be due on the next succeeding business day to occur
after such date.

 

At the option of Borrower,
the unpaid principal of this Note may be prepaid in whole or in part, at any time, with accrued and unpaid interest thereon but
without penalty or premium; provided that such any such partial prepayment shall be in an increment of $1,750,000, plus accrued
and unpaid interest thereon.

 

The liability of Borrower
hereunder shall be unconditional. No act, failure or delay by the Holder hereof to declare a default as set forth herein or to
exercise any right or remedy it may have hereunder, or otherwise, shall constitute a waiver of its rights to declare such default
or to exercise any such right or remedy at such time as it shall determine in its sole discretion.

 

    	 

    	 

    

 

Borrower shall be in
default under this Note upon the occurrence of any of the following (each, an “Event of Default” and collectively,
“Events of Default”): (a) if Borrower or any of its subsidiaries takes, or seeks or agrees to take, any
action in violation of or which is not in compliance with this Note, including non-payment under this Note on the date when due;
(b) any event, the occurrence or non-occurrence of which, that with the passage of time or the giving of notice, or both,
would not be permitted hereunder or would become a violation of or non-compliance with this Note by Borrower or any of its subsidiaries;
(c) any “default”, “event of default” or any other event, the occurrence or non-occurrence of which,
that with the passage of time or the giving of notice, or both, would be a default or event of default, under (i) any other agreement,
document or instrument (x) to which both Borrower and Holder (or any affiliate thereof (excluding Borrower and its subsidiaries))
are parties or are otherwise both bound, or (y) any other agreement, document or instrument to which Borrower or any subsidiary
of Borrower is a party or otherwise bound, which, in the case of this clause (y) results in a liability, obligation or otherwise
involves a payment by Borrower or any such subsidiary, in excess of $500,000, (ii) the Senior Debt or (iii) the Certificate
of Designation; (d) any material loss, theft, damage or destruction of any portion of the properties or assets of Borrower
or any subsidiary, which exceeds $500,000, to the extent not covered by insurance; (e) (i) except as contemplated in
the “Approved Budget” (as defined in the Certificate of Designation) for the then current period, a cessation of a
substantial part of the business of Borrower or any subsidiary that is material to Borrower and its subsidiaries, as a whole, (ii) Borrower
or any subsidiary shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by any of
them which is necessary to the continued or lawful operation of its business; (iii) Borrower or any subsidiary shall be enjoined,
restrained or in any way prevented by Governmental Authority from conducting all or any material part of its business affairs;
(iv) any substantial portion of the real property, rights, easements and privileges deemed to be necessary or useful and convenient
for the “Project Towers” or “Existing Towers” (as such terms are defined in the Certificate of Designation)
or in connection therewith, shall be taken through condemnation or the value thereof shall be impaired through condemnation; (f) any
money judgment, writ of attachment or similar processes (collectively, “Judgments”) are issued or rendered against
Borrower or any subsidiary, or any of their respective properties or assets (i) in the case of money Judgments, in an amount
in excess of $100,000 to the extent not covered by insurance, and (ii) in the case of non-monetary Judgments, such Judgment
or Judgments (in the aggregate) could reasonably be expected to have a Material Adverse Effect, in each case, which Judgment is
not stayed, bonded over, released or discharged within 30 days after entry thereof; (g) any violation by Borrower or any subsidiary
of any domestic or foreign, federal, state or local law, rule, regulation, ordinance or similar authority issued, ordered, enacted
or promulgated by any Governmental Authority which could have a Material Adverse Effect; (h) the insolvency of Borrower or
any of its subsidiaries (the term “insolvency” shall mean either a negative tangible net worth or an inability
to pay Borrower’s or such guarantor’s debts as they mature); or (i) the filing by or against Borrower or any of its
subsidiaries of any petition seeking an arrangement, reorganization or the like, the commencement of any proceedings under any
bankruptcy or insolvency law by or against either of them, the adjudication of any of them as a bankrupt, the appointment of a
receiver for all or any part of their respective assets, or the making of an assignment for the benefit of creditors, or the calling
of a meeting of creditors, or the appointment of a committee of creditors or liquidating agents, by, for, or of either of them; provided, however,
that any of the foregoing clauses (a) through and including (i) may be waived by the Holder in its sole discretion by delivering
written notice of such waiver to Borrower. For the avoidance of doubt, any such waiver shall only be effective for the instance
in which it was given, and no waiver shall be effective for any other instance or give rise to any obligation to issue waiver with
respect to any future instance, whether or not prior waivers were given.

 

    	-2-

    	 

    

  

For purposes of the preceding
paragraph:

 

“Certificate of Designation”
shall mean that certain Certificate of Designation, Preferences and Rights of Series A-1 Non-Convertible Preferred Stock and Series
A-2 Convertible Preferred Stock of Borrower filed with the Nevada Secretary of State on August 1, 2013.

 

“Credit Agreement”
shall mean that certain Credit Agreement, dated as of August 17, 2012, by and among CIG Comp Tower, LLC, as borrower, the
lenders from time to time party thereto, as lenders, and Macquarie Bank Limited, as administrative agent and collateral agent (as
amended, restated, or otherwise modified from time to time).

 

“Material Adverse Effect”
means a material adverse effect on (i) the assets and liabilities, results of operations, condition (financial or otherwise) or
business of Borrower and its subsidiaries taken as a whole, or (ii) the ability of Borrower perform its obligations under this
Note.

 

“Senior Debt”
shall mean (i) all indebtedness arising under the Credit Agreement; (ii) any other indebtedness of Borrower or its subsidiaries
as shall be designated by the Board of Directors of Borrower to be “Senior Debt, subject to the agreement of Holder; and
(iii) any indebtedness entered into in connection with the refinancing or replacement of such indebtedness.

 

If an Event of Default
occurs under clauses (h) or (i) above, then the outstanding principal of, and all accrued interest on, this Note shall automatically
become immediately due and payable, without presentment, demand, protest or notice of any kind, all of which are hereby expressly
waived. If any other Event of Default occurs and is continuing, Holder, by written notice to Borrower, may declare the principal
of, and accrued interest on, this Note to be immediately due and payable. On any such declaration, such principal and interest
shall become immediately due and payable.

 

Borrower further agrees
to pay all costs of collection, including reasonable attorneys’ fees and all costs of levy or appellate proceedings or review,
or both, in case the principal or any interest thereon is not paid on the Maturity Date, whether suit be brought or not.

 

Any and all notices
or other communications required or permitted to be given under this Note shall be in writing (including facsimile transmission,
e-mail or similar writing) and shall be given to such party at the address, e-mail address or facsimile number for such party on
the signature pages hereof or at such other address, e-mail address or facsimile number as such party may hereafter specify.

 

This Note may not be
amended, modified, supplemented or terminated except by a writing signed by the Holder and Borrower.

  

    	-3-

    	 

    

 

This Note shall be
binding upon Borrower, its legal representatives, successors or assigns and shall inure to the benefit of Holder and his successors,
endorsees, assigns or holder(s) in due course.

 

THIS NOTE SHALL BE
GOVERNED BY, CONSTRUED IN ACCORDANCE WITH, AND ENFORCED UNDER, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS OR INSTRUMENTS
ENTERED INTO AND PERFORMED ENTIRELY WITHIN SUCH STATE.

 

Borrower
hereby expressly waives any right to seek a trial by jury in any action or proceeding arising out of or relating to this Note or
the transactions contemplated hereby. By acknowledging this Note, Holder also shall be deemed to have expressly waived any right
to seek a trial by jury in any action or proceeding arising out of or relating to this Note or the transactions contemplated hereby.

 

Borrower hereby irrevocably
and unconditionally submits to the exclusive jurisdiction of any court of New York State sitting in the County of New York, or
any Federal court of the United States of America sitting in New York City, and any appellate court from any thereof, in any action
or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby or for recognition or enforcement
of any judgment relating thereto, and Borrower hereby irrevocably and unconditionally agrees that all claims in respect of any
such action or proceeding may be heard and determined in such New York State court or, to the extent permitted by law, in such
Federal court. Borrower agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in
other jurisdictions by suit on the judgment or in any other manner provided by law.

 

Borrower hereby irrevocably
and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter
have to the laying of venue of any suit, action or proceeding arising out of or relating to this Note or the transactions contemplated
hereby in any New York State or Federal court. Borrower hereby irrevocably waives, to the fullest extent permitted by law, the
defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

 

Borrower hereby irrevocably
and unconditionally consents to service of process in the manner provided for notices herein, except for process served via e-mail.
Nothing in this Note will affect the right of Holder to serve process in any other manner permitted by law.

 

If any provisions of
this Note would require Borrower to pay interest hereon at a rate exceeding the highest rate allowed by applicable law, Borrower
shall instead pay interest under this Note at the highest rate permitted by applicable law.

 

Borrower hereby expressly
waives presentment, demand, protest or notice of any kind.

 

[Signature Page Follows]

 

    	-4-

    	 

    

  

IN WITNESS WHEREOF,
Borrower has caused this Note to be duly executed and delivered as of the date and year first above written.

 

	 	CIG Wireless Corp.
	 	 	 
	 	By:	/s/ Paul McGinn
	 	 	Name: Paul McGinn
	 	 	Title: Chief Executive Officer
	 	 	 
	 	CIG Wireless Corp.
	 	11120 South Crown Way, Suite 1
	 	Wellington, FL 33414
	 	Attention: Paul McGinn, CEO
	 	Facsimile:
	 	E-mail: pmcginn@cigwireless.com 

 

Acknowledged by Holder:

 

Fir Tree Capital Opportunity (LN) Master Fund, L.P.

 

	By:	/s/ Brian Meyer
	 	Name: Brian Meyer
	 	Title: Authorized Person

 

Fir Tree Capital Opportunity (LN) Master Fund, L.P.

c/o Fir Tree, Inc.

505 Fifth Avenue, 23rd Floor

New York, NY 10017

Attention: Brian Meyer, General Counsel

Facsimile: (212) 659-4885

E-mail: bmeyer@firtree.com

 

    	-5-Exhibit 10.1

 

NOTE PURCHASE AGREEMENT

This NOTE PURCHASE AGREEMENT (this "Agreement") dated as of March 31, 2015 is made by and between Jabro Funding Corp., a New York corporation with principal address at 1 Cedar Lane, Glen Cove, NY 11542 (the "Seller"), and Iconic Holdings, LLC, a Delaware limited liability company with principal address at 7200 Wisconsin Ave., Suite 206, Bethesda, MD 20814 (the "Buyer").  As used herein, the term "Parties" shall be used to refer to the Seller and Buyer jointly.

WHEREAS:

A.            Seller warrants and represents that it owns and holds all right, title, and interest in that certain Convertible Promissory Note in the total amount of $15,500 with an original issuance date of February 18, 2014 (the "Note") as issued by HDS International Corp., a Nevada corporation (the "Company").

B.            Seller warrants and represents that the Note is being held by the Seller on March 31, 2015 (the "Note Transfer Date") and that the Note, with $15,500 in principal and $1,379.29 in accrued interest and penalties still outstanding, is a valid debt and a current obligation of the Company.

C.            Seller warrants and represents that it is not an officer, director, or, directly or indirectly, a 10% or more stockholder of the Company and has not been any such person at any time in the past one hundred twenty (120) days.

D.            The Parties acknowledge and agree that the Buyer seeks to acquire $16,879.29 of the Note (the "Note Portion") from the Seller.

E.            The Parties acknowledge and agree that the Seller seeks to sell and transfer all rights, title, and interest in and to the Note Portion to the Buyer and the Buyer seeks to acquire all rights, title, and interest in and to the Note Portion from the Seller as more particularly set forth in Section 1.01 of this Agreement.

NOW THEREFORE THE PARTIES AGREE AS FOLLOWS:

1.00            Purchase of the Note Portion from Seller. Subject to the contemporaneous closing of the Exchange Agreement between the Buyer and the Company and in consideration of the Buyer's payment of the aggregate sum of $25,780 (the "Purchase Price"), on or about March 31, 2015, but not prior to a portion of the converted stock underlying the Note Portion being accepted by the Buyer's brokerage firm and DTC (the "Note Closing Date"), Seller hereby irrevocably sells, assigns, transfers, conveys and delivers to Buyer, and Buyer accepts all rights, title and interest in and to and the benefits of the Note Portion upon payment of the Purchase Price.  Buyer will deliver the Purchase Price to an escrow account and it will be released to Seller upon acceptance of shares by Buyer's brokerage firm per the Escrow Agreement.

1

 

Note Purchase Agreement

Iconic Holdings, LLC

HDS International Corp.

March 31, 2015

  

2.00            Representations and Warranties of the Buyer. Buyer represents and warrants to the Seller, as of the date hereof and as of the Closing, as follows:

2.01            Organization; Authority.  The Buyer is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization with full right, partnership power and authority to enter into and to consummate the transactions contemplated hereby, and the execution, delivery and performance by the Buyer of the transactions contemplated hereby have been duly authorized by the Buyer.

2.02            Consents.  No authorization, consent, approval or other order of, or declaration to or filing with, any governmental agency or body or other person is required for the valid authorization, execution, delivery and performance by the Buyer of this Agreement and the consummation of the transactions contemplated hereby.

3.00            Representations and Warranties of the Seller.  Seller represents and warrants to the Buyer, as of the date hereof and as of the Closing, as follows:

3.01            Authorization of Agreement.  The Seller has full right, power and authority to enter into and to consummate the transactions contemplated hereby and otherwise to carry out Seller's obligations hereunder.  This Agreement, when executed and delivered by the Seller, will constitute a valid and legally binding obligation of the Seller, enforceable against the Seller in accordance with its terms.

3.02            Title to the Note.  The Seller is the legal, record and beneficial owner of the Note and the Note Portion with good and marketable title thereto, and the Seller has the absolute right to sell, assign, convey, transfer and deliver the Note and the Note Portion and any and all rights and benefits thereto.

3.03            No Litigation.  There is no action, suit, proceeding, judgment, claim or investigation pending, or to the knowledge of the Seller, threatened against the Seller, which could reasonably be expected in any manner to challenge or seek to prevent, enjoin, alter or materially delay any of the transactions contemplated hereby.

3.04            Sophisticated Seller.  Seller is a sophisticated seller with respect to the Note Portion, has adequate information concerning the business and financial condition of the Company to make an informed decision regarding the sale of the Note Portion and the Seller has independently and without reliance upon any Buyer made its/his own analysis and decision to enter into this Agreement and sell the Note Portion to Buyer.

4.00            Notices.  All notices, demands and requests of any kind to be delivered to any party in connection with this Agreement shall be personally served, sent via facsimile or e-mail, or sent in writing via an internationally recognized overnight courier or by registered or certified mail, return receipt requested and postage prepaid to the address of each party listed on the first page of this Agreement or to such other address as the party to whom notice is to be given may have furnished to the other parties to this Agreement in writing in accordance with the provisions of this Section 8. Any such notice or communication shall be deemed to have been received (i) in the case of personal delivery, on the date of such delivery, (ii) in the case of facsimile or e-mail, immediately (iii) in the case of an internationally-recognized overnight courier, on the next business day after the date when sent and (iv) in the case of mailing, on the third business day following that on which the piece of mail containing such communication is posted.

 

 

2

 

Note Purchase Agreement

Iconic Holdings, LLC

HDS International Corp.

March 31, 2015

5.00            Successors and Assigns.  This Agreement shall be binding on and inure to the benefit of the parties hereto and their respective successors, heirs, personal representatives, and permitted assigns.

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

7.00            Severability.  If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt to agree upon a valid and enforceable provision that is a reasonable substitute therefore, and upon so agreeing, shall incorporate such substitute provision in this Agreement.

8.00            Entire Agreement.  This Agreement represents the entire agreement of the parties hereto with respect to the matters contemplated hereby, and there are no written or oral representations, warranties, understandings or agreements except as expressly set forth herein.

9.00            Amendments; Waivers.  No provision of this Agreement may be waived or amended except in a written instrument signed, in the case of an amendment, by each party or, in the case of a waiver, by the party against whom enforcement of any such waiver is sought.

10.00            Governing Law and Arbitration.  This section is controlled by Section 3.00(i) of the Convertible Promissory Note dated March 31, 2015.

11.00                          Binding Arbitration.   Any dispute or claim arising to or in any way related to this Agreement shall be settled by arbitration in San Diego, California.  All arbitration shall be conducted in accordance with the rules and regulations of the American Arbitration Association ("AAA").

12.00            Exhibit.The Parties acknowledge and agree that Exhibit A is an integral part of this Agreement and is incorporated by reference herein.

[The remainder of this page has been left intentionally blank.]

 

 

 

 

 

3

 

Note Purchase Agreement

Iconic Holdings, LLC

HDS International Corp.

March 31, 2015

IN WITNESS WHEREOF, the Parties hereto have duly executed this Agreement as of the date first above-written.

FOR THE SELLER:

Jabro Funding Corp.

By:    LAWRENCE ROTHBERG

Name:  LAWRENCE ROTHBERG

Title:     PRESIDENT

FOR THE BUYER:

Iconic Holdings, LLC

By:    JUSTIN EDERLE                           

Name:  Justin Ederle

Title:               Manager

[SIGNATURE PAGE TO NOTE PURCHASE AGREEMENT]

 

 

 

 

 

 

 

4

Note Purchase Agreement

Iconic Holdings, LLC

HDS International Corp.

March 31, 2015

EXHIBIT 1

COPY OF THE NOTE

(Attached is a copy of the Note originally dated February 18, 2014 as issued to Asher Enterprises, Inc. and later acquired by Jabro Funding Corp. on November 19, 2014 in the original principal amount of $15,500)

 

 

 

 

 

 

 

 

 

 

 

 

5

Note Purchase Agreement

Iconic Holdings, LLC

HDS International Corp.

March 31, 2015

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