Document:

f8k022613ex10v_car.htm

Exhibit 10.5

 

February __, 2013

Worldwide Stock Transfer, LLC

433 Hackensack Ave, Level L

Hackensack, NJ 07601

Re: Authorization to Cancel Shares of Car Charging Group, Inc.

To Whom It May Concern:

Enclosed herewith, please find Stock Certificate No. ___, representing ________shares of common stock in Car Charging Group, Inc. with medallion signature guarantee for immediate cancellation.  

In the event such Certificate is not enclosed herewith and you do not receive such certificate within 2 business days of receipt of this letter, please accept the attached affidavit in its place.

Should you have any questions, please do not hesitate to contact the undersigned.

Sincerely,

_______________________

Name:  

Address: 

Telephone Number:

cc: Michael D. Farkas, Car Charging Group, Inc.

*This document shall be held in escrow and destroyed upon payment in full of the Note.

  

  

  

AFFIDAVIT OF LOST, DESTROYED OR MUTILATED CERTIFICATE

The undersigned, being duly sworn, deposes and says:

1.I, ____________, am the true, lawful, present and sole owner of Car Charging Group, Inc. Stock Certificate No. ______, issued on February ___, 2013 in the amount of __________ shares of common stock, par value $.001 per share (the “Certificate”);

2.That the Certificate was not endorsed;

3.That neither the Certificate nor the rights of the undersigned have in whole or in part been sold, assigned, hypothecated, pledged or otherwise transferred;

4.That the undersigned had made a diligent search for the Certificate, has not found the Certificate and believes that the Certificate is lost;

5.That the undersigned hereby agrees to immediately surrender to Car Charging Group, Inc. (the “Company”) the lost Certificate should it hereafter come into the undersigned’s possession or control;

6.That this affidavit is made to direct and authorize the Company and its transfer agent to cancel the Certificate and record the cancellation of the shares evidenced in the Certificate from its records; and

7.That Manhattan Charging LLC hereby indemnifies and holds the Company and its transfer agent harmless form any and all loss, claims, damage, counsel fees and costs incurred, or to be incurred, by reason of the loss of the Certificate or by reason of future presentment of such lost Certificate to the Company or its transfer agent, for transfer.

I hereby state that the above statements are true to the best of my knowledge, information and belief.

Dated this _____ day of February, 2013.

________________________________                         

STATE OF ______________)

  )

COUNTY OF_____________)

Subscribed and sworn to before me this ______ day of February, 2013.

 

	 	 	 	 
	 	 	Notary Public in and the State of __________

 

*This document shall be held in escrow and destroyed upon payment in full of the Note.f8k022613ex10vi_car.htm

Exhibit 10.6

 

ASSIGNMENT AND TRANSFER OF MEMBERSHIP INTERESTS

THIS ASSIGNMENT AND TRANSFER OF MEMBERSHIP INTERESTS (the “Assignment”), dated this ___ day of February, 2013, is made by and between Beam Acquisition LLC (“Assignee”), a wholly owned subsidiary of Car Charging Group, Inc. (“CCGI”), and, Manhattan Charging LLC (“Assignor”), as an owner of membership interests in Beam Charging, LLC (“Beam”).

RECITALS

WHEREAS, pursuant to the terms and conditions of the Equity Exchange Agreement (the “Agreement”) between Assignor, all other owners of membership interests in Beam (collectively, the “Beam Members”), CCGI, Assignee, and Beam, dated of even date herewith, Assignor desires to sell, transfer and assign all of its membership units in Beam (the “Beam Interests”) to Assignee for the consideration described below; and,

 

WHEREAS, Assignee desires to purchase and receive all of Assignor’s membership units in Beam in accordance with the terms of the Agreement and this Assignment.

 

NOW THEREFORE, in consideration of the above recitals and of the respective covenants, representations, warranties and agreements herein contained, and intending to be legally bound hereby, the parties hereto do hereby agree as follows:

ASSIGNMENT

1.         Assignment. In accordance with and subject to the terms and conditions of the Agreement, Assignor hereby sells, transfers and assigns all of its membership units in Beam to Assignee in exchange for the consideration set forth in the Agreement.

2.         Beam Consent.  Beam does hereby consent to the transfer of the Beam Interests from Assignor to Assignee; and agrees to cause such transfer to be reflected on the books and records of the company.

3.         Miscellaneous.

 

(a)           This Assignment, and the other documents required pursuant to the Agreement, represent the entire agreement between the parties hereto with respect to the transactions contemplated hereby and supersede all prior agreements with respect thereto, whether written or oral.

 

(b)           This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard, however, to such jurisdiction's principles of conflict of laws.

 

(c)           This Agreement may be executed in counterpart originals, each of which shall be an original, but all of which shall constitute only one agreement. A facsimile or scanned signature of any party will be binding on that party.

 

[Signature Page Follows]

 

  

  

  

 

IN WITNESS HEREOF, the parties have executed this Assignment as of the date set forth above.

 

	ASSIGNEE: 	 	ASSIGNOR	 
	

BEAM ACQUISITON LLC

	 	

MANHATTAN CHARGING LLC

	 
	 	 	 	 
	By: 	/s/ Michael D. Farkas	 	By:	/s/ Joseph Turquie	 
	Name:	
Michael D. Farkas, on behalf of Managing 

	 	Name:	
Joseph Turquie

	 
	 	Member Car Charging Inc.	 	Title: 	
Managing Member

	 
	Title:	

Chief Executive Officer

	 	FEIN: 	                                                       	 

 

	 	 	 	 
	By: 	
                                                       

	 	 	 	 
	Name:	
                                                       

	 	 	 	 
	Title:Unassociated Document

Exhibit 10.7

 

ASSIGNMENT OF PROMISSORY NOTE

FOR VALUE RECEIVED, including the payment of $153,341.78 concurrently herewith by wire transfer of immediately available funds to the account set forth on Exhibit A hereto, __________ (“Assignor”), does hereby assign and transfer to Car Charging Group, Inc. (“Assignee”) each of those two certain secured promissory notes (copies of which are attached hereto as Exhibits A and B, respectively) executed by Beam Charging LLC, a New York limited liability company (“Beam”) totaling the aggregate principal amount of One Hundred Thirty Thousand and No/100 Dollars ($130,000) (the “Secured Notes”).

Assignor represents and warrants that, immediately prior to the assignment and transfer consummated hereby, it was the record and beneficial owner of the Secured Notes and the Assignor owned the Secured Notes, free of any claim, lien, security interest or encumbrance of any nature or kind and, as such, had the exclusive right and full power to assign and transfer the Secured Notes free of any such claim, lien, security interest or encumbrance.

The Assignee acknowledges that after due investigation it has satisfied itself as to validity of the promissory notes and the obligations pursuant to the promissory notes. The Assignee agrees to hold the Assignor harmless form any and all claims that may arise after the date hereof against the Assignor or the Assignee with respect to the obligations pursuant to said promissory notes.   Assignor shall, within seven days after the effectiveness hereof, deliver the original Secured Notes (to the extent such are in existence) to the Assignee.

 

This assignment and any dispute arising hereunder relating to its execution and its validity, shall be governed or interpreted according to the laws of the State of New York. Any proceeding or action must be commenced in Nassau County, New York. The parties hereto irrevocably and unconditionally submit to the exclusive jurisdiction of such courts and agree to take any and all future action necessary to submit to the jurisdiction of such courts.

[Signature Page Attached]

 

  

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IN WITNESS WHEREOF the parties hereto have set their hand and seals as of February ___, 2013.

	  	
ASSIGNOR:

	  	  	 
	 	 	 
	 	 	 
	  	
ASSIGNEE:

	  	  	 
	 	
CAR CHARGING GROUP, INC.

	 	 
	 	By:	 
	 	Name:	 
	  	
Title:

	 

 

  

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EXHIBIT A

Wire Transfer Instructions

 

3f8k022613ex10viii_car.htm

Exhibit 10.8

 

AMENDMENT TO PROMISSORY NOTES

This Amendment to Promissory Notes (this “Amendment”) is entered into as of February ___, 2013 by and between Car Charging Group, Inc (the “Lender”) and Beam Charging LLC (the “Borrower”).

A.        On December 22, 2011 and May 17, 2012, Borrower issued to _____________(the “Original Lender”) two (2) secured promissory notes (the “Notes”) in the original principal amounts of $100,000 and$30,000, respectively.

B.         In connection therewith, certain members of Borrower granted security interests in the Notes by pledging their membership interests in Borrower.

C.         Simultaneously with the execution of this Amendment, Lender has purchased the Notes from the Original Lender.

Lender and Borrower hereby agree to amend the Notes as follows:

1. The parties acknowledge that all interest payable under the Notes has been paid to the Original Lender through the date hereof.

2. The Maturity Date of the Notes shall be extended until the third anniversary of this Amendment.

3. The interest rate payable under the Notes shall be eight percent (8%).

4. The parties acknowledge and agree that the defined term “Lender” in each of the Notes shall hereafter be deemed to refer to Car Charging Group, Inc.

5. The Notes shall be solely secured in accordance with the following provisions:

Security Interest.  Borrower hereby assigns, pledges, transfers and grants to Lender a lien on and continuing security interest in all of the Borrower’s assets listed on Exhibit A hereto (collectively hereinafter referred to as the “Collateral”).  Borrower shall execute such documents as may be reasonably required by Lender to perfect its security interest in the Collateral (including, without limitation, a financing statement and security agreement).  This Note shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the payment in full of all amounts due hereunder, (b) be binding upon Borrower and its successors and assigns and (c) inure to the benefit of the Lender and its successors, transferees and assigns.  Upon the occurrence of an Event of Default, Lender shall have all of the rights and remedies of a secured party under the Uniform Commercial Code as in effect in the State of New York.  Upon the payment in full of amounts due hereunder, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to Borrower.  Upon any such termination, the Lender will execute and deliver to Borrower such documents as Borrower shall reasonably request to evidence such termination.  Notwithstanding anything to the contrary, Borrower hereby pledges to the Lender, and creates in the Lender for its benefit, a security interest for such time until all of the obligations are paid in full, in and to all of the property and assets of the Borrower including but not limited to all of the property and assets as set forth in Exhibit A attached hereto, whether presently owned or existing or hereafter acquired or coming into existence, and all additions and accessions thereto and all substitutions and replacements thereof.

  

  

  

 

Waiver of Automatic Stay. The Borrower acknowledges and agrees that should a proceeding under any bankruptcy or insolvency law be commenced by or against the Borrower, or if any of the Collateral should become the subject of any bankruptcy or insolvency proceeding, then the Lender should be entitled to, among other relief to which the Lender may be entitled under hereunder and/or applicable law, an order from the court granting immediate relief from the automatic stay pursuant to 11 U.S.C. Section 362 to permit the Lender to exercise all of its rights and remedies pursuant to this Note and/or applicable law. THE BORROWER EXPRESSLY WAIVES THE BENEFIT OF THE AUTOMATIC STAY IMPOSED BY 11 U.S.C. SECTION 362.  FURTHERMORE, THE BORROWER EXPRESSLY ACKNOWLEDGES AND AGREES THAT NEITHER 11 U.S.C. SECTION 362 NOR ANY OTHER SECTION OF THE BANKRUPTCY CODE OR OTHER STATUTE OR RULE (INCLUDING, WITHOUT LIMITATION, 11 U.S.C. SECTION 105) SHALL STAY, INTERDICT, CONDITION, REDUCE OR INHIBIT IN ANY WAY THE ABILITY OF THE LENDER TO ENFORCE ANY OF ITS RIGHTS AND REMEDIES UNDER THIS NOTE AND/OR APPLICABLE LAW.  The Borrower hereby consents to any motion for relief from stay that may be filed by the Lender in any bankruptcy or insolvency proceeding initiated by or against the Borrower and, further, agrees not to file any opposition to any motion for relief from stay filed by the Lender.  The Borrower represents, acknowledges and agrees that this waiver is knowingly, intelligently and voluntarily made, that neither the Lender nor any person acting on behalf of the Lender has made any representations to induce this waiver, that the Borrower has been represented (or has had the opportunity to he represented) in the signing of this Note and in the making of this waiver by independent legal counsel selected by the Borrower and that the Borrower has discussed this waiver with counsel.

Any and all references to assignments of membership interests, security interests and/or guarantees in the Notes are hereby irrevocably cancelled, deleted, fully released, fully discharged and replaced in their entirety by the foregoing.    Any and all references to Joseph Turquie, Eric L’Esperance, Brian Valenza and Manhattan Charging LLC in the Notes are hereby irrevocably removed from the Notes and any representations, warranties, covenants, assignment of membership interests, security interests and guarantees made by such parties are hereby irrevocably cancelled, deleted, fully released, fully discharged, of no further force and effect whatsoever and shall be deemed to have never been in force or effect.

6. Reference is made to that certain Equity Exchange Agreement dated as of the date hereof, by and among the Lender, the Borrower, Beam Acquisition LLC and the Members of the Borrower (the “Exchange Agreement”).  Each of Joseph Turquie, Eric L’Esperance, Brian Valenza, Andrew Shapiro and Manhattan Charging LLC are intended beneficiaries of this Amendment and, accordingly, this Amendment and the Notes may not be further amended, transferred, pledged, hypothecated, sold or encumbered in any way whatsoever, nor may the terms of the Notes or this Amendment be changed in any way whatsoever, except with the prior written consent of each such party until such time as the Promissory Notes (as defined in the Exchange Agreement) have been fully and indefeasibly paid in full.  The Lender hereby agrees that all of its security interests hereunder and under the Note and any and all other security interests that it may have against the Borrower shall be fully and unconditionally subordinated to the security interests granted by the Borrower pursuant to the Security Agreement (as defined in the Exchange Agreement).  Until such time as each of the Promissory Notes has been fully and indefeasibly paid in full, CCGI may not avail itself of any remedy with respect to the security interest granted by Borrower hereunder nor may the Lender accept any prepayment of any amounts due hereunder.  Each of Joseph Turquie, Eric L’Esperance, Brian Valenza, Andrew Shapiro and Manhattan Charging LLC would not execute the Exchange Agreement and would not consummate the transactions contemplated thereby but for the Lender’s and Borrower’s agreement to be bound by the terms of this paragraph 6, and Lender and Borrower hereby acknowledge and agree that each of Joseph Turquie, Eric L’Esperance, Brian Valenza, Andrew Shapiro and Manhattan Charging LLC is fully permitted and entitled to rely on and fully enforce Borrower’s and Lender’s obligations hereunder.

  

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7. Except as amended by this Amendment, the Notes shall remain in full force and effect, enforceable in accordance with their respective terms.

The parties have executed this Amendment as of the date first written above.

 

	LENDER	 	BORROWER	 
	Car Charging Group, Inc.	 	Beam Charging, LLC	 
	 	 	 	 
	By:	 	 	By:	 	 
	Name:	 	Name:	 
	Title:	 	Title:	 

 

  

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Exhibit A

DEFINITION OF COLLATERAL

For the purpose of securing prompt and complete payment and performance by the Borrower (hereinafter the “Company”) of all of the obligations under the Notes, the Company unconditionally and irrevocably hereby grants to the Lender (hereinafter the “Secured Party”) a security interest in and to, and lien upon, the following pledged property of the Company:

(a) all cash, negotiable instruments, escrow funds, bank accounts, assets of all subsidiaries, shares of stocks of all subsidiaries, contract rights,  prepaid expenses and claims;

 

(b) all goods of the Company, including, without limitation, machinery, equipment, computer, furniture, furnishings, fixtures, signs, lights, tools, parts, supplies and motor vehicles of every kind and description, now or hereafter owned by the Company or in which the Company may have or may hereafter acquire any interest, and all replacements, additions, accessions, substitutions and proceeds thereof, arising from the sale or disposition thereof, and where applicable, the proceeds of insurance and of any tort claims involving any of the foregoing;

 

(c) all inventory of the Company, including, but not limited to, all goods, wares, merchandise, parts, supplies, finished products, other tangible personal property, including such inventory as is temporarily out of Company’s custody or possession and including any returns upon any accounts or other proceeds, including insurance proceeds, resulting from the sale or disposition of any of the foregoing;

 

(d) all contract rights and general intangibles of the Company, including, without limitation, goodwill, trademarks, trade styles, trade names, leasehold interests, partnership or joint venture interests, patents and patent applications, copyrights, deposit accounts, client license agreements and property access agreements and governmental grant agreements, whether now owned or hereafter created;

 

(e) all documents, warehouse receipts, instruments and chattel paper of the Company whether now owned or hereafter created, including without limitation all files, records, books of account, business papers and computer programs;

 

(f) all accounts and other receivables, instruments or other forms of obligations and rights to payment of the Company (herein collectively referred to as “Accounts”), together with the proceeds thereof, all goods represented by such Accounts and all such goods that may be returned by the Company’s customers, and all proceeds of any insurance thereon, and all guarantees, securities and liens which the Company may hold for the payment of any such Accounts including, without limitation, all rights of stoppage in transit, replevin and reclamation and as an unpaid vendor and/or lienor, all of which the Company represents and warrants will be bona fide and existing obligations of its respective customers, arising out of the sale of goods by the Company in the ordinary course of business;

 

(g) to the extent assignable, all of the Company’s rights under all present and future authorizations, permits, licenses and franchises issued or granted in connection with the operations of any of its facilities; and

 

(h) all products and proceeds (including, without limitation, insurance proceeds) from the above-described pledged property.

 

 

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