Document:

Exhibit 10.24
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	CONFIDENTIAL
	EXECUTION COPY

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Certain identified information marked with “[***]” has been omitted from this document because it is both (i) not material and (ii) the type that the registrant treats as private or confidential.
PUT OPTION AGREEMENT
This PUT OPTION AGREEMENT (this “Agreement”) is made and entered into as of September 3, 2020, by and between Mondee Holdings, LLC, a Delaware limited liability company (“Holdings”), and the actual and prospective holders of Holdings LLC Units as set forth on Exhibit A (each a “Holder” and collectively, the “Holders”).
WHEREAS, Mondee, Inc., a Delaware corporation (“Parent”), Mondee Merger Sub, Inc., a Delaware corporation, Rocketrip, Inc., a Delaware corporation (the “Company”) and the Securityholders Representative named therein entered into that certain Agreement and Plan of Merger, dated as of the date hereof (the “Merger Agreement”), pursuant to which (i) the Holders received the Closing Holdings LLC Units in partial consideration of Company Capital Stock, and (ii) subject to the terms and conditions of the Merger Agreement, the Holders are entitled to receive, on the third anniversary of the Closing Date, the Deferred Holdings LLC Units in partial consideration of the Company Capital Stock;
WHEREAS, capitalized terms used but not otherwise defined herein shall have their respective meanings set forth in the Merger Agreement; and
WHEREAS, Holdings desires to grant to each Holder a put option with respect to the Closing Holdings LLC Units and the Deferred Holdings LLC Units, upon the terms and conditions of this Agreement.
NOW, THEREFORE, in consideration of the foregoing premises, the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
1.Put Option.  Each Holder shall, from and after the date of this Agreement (the “Trigger Date”) until 11:59 p.m. (New York time) on the date that is 57 months after the Trigger Date (the “End Date”), have the right and option (the “Put Option”), to require Holdings to purchase all, but not less than all, of the Holdings LLC Units delivered or deliverable pursuant to the Merger Agreement held by such Holder (all such Holdings LLC Units in the aggregate, the “Put Units”) on the terms, provisions and conditions set forth in this Agreement.
2.Exercise of Put Option.
(a)The Put Option may be exercised individually by any Holder delivering to Holdings an irrevocable written notice of exercise signed by such Holder (the “Notice”), in the form attached hereto as Exhibit B, which Notice may be delivered at any time after the execution of this Agreement until 11:59 p.m. (New York time) on the End Date.
(b)Upon delivery of a Notice by a Holder, such Holder shall be obligated to sell all (and not less than all) of such Holder’s Put Units then held or issuable pursuant to the Merger Agreement at the Price Per Unit (as defined below) in accordance with, and subject to, the
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terms of this Agreement, and no Holder shall have any right, power or authority to revoke the Notice once it has been delivered to Holdings.
(c)A Holder may exercise its Put Option prior to the receipt of its Holdings LLC Units, in which case Holder will not be issued such Holdings LLC Units pursuant to the terms and conditions of the Merger Agreement (and at the times set forth therein) and the Holder will instead be entitled to receive a cash payment as if such Holdings LLC Units were actually issued to the Holder (pursuant to the terms and conditions of the Merger Agreement (and at the times set forth therein)) and the Put Option was exercised with respect to such Units on the terms set forth herein.
3.Purchase Price.  The purchase price per Put Unit (the “Price Per Unit”) shall be equal to the Holdings LLC Unit Value per Put Unit (as adjusted for any unit splits, unit dividends or distributions, unit combinations, unit subdivisions, recapitalizations or the like with respect to such Put Units).  Holdings shall be entitled to deduct or withhold from any amounts owing to any exercising Holder hereunder any applicable withholding, excise or other taxes imposed by applicable law, rule or regulation. Holdings shall notify any Holder that has exercised the Put Option at the time of any such deduction or withholding, including the basis therefor.
4.Closing.
(a)In the event that the Put Option is validly exercised hereunder by any Holders, then subject to the provisions of this Section 4, the closing of the purchase and sale of the Put Units (the “Closing”) shall take place remotely via the exchange of documentation and signatures in PDF or by facsimile, commencing at 11:00 a.m., Pacific Time, on a date agreed by Holdings and the Holders, but not earlier than September [3], 2025 or later than October 31, 2025 (the “Closing Date”); provided, however, that in the event of a Company Sale prior to the Closing Date, the Closing with respect to any Holder who has delivered a Notice to the Company shall occur immediately prior to the closing of such Sale of the Company and the “Closing Date” with respect to such Holder shall mean the date of such Closing.
(b)At the Closing, the Holders shall deliver to Holdings, in respect of any Holdings LLC Units actually issued to the Holder:
(i)original unit certificates, duly executed stock powers and/or such other documents as Holdings may reasonably request to effectuate and/or evidence the purchase, assignment and transfer of the Put Units;
(ii)a certificate in form and substance acceptable to Holdings’ counsel, and signed by each of the Holders, that the Put Units being sold are owned by the Holders and are being conveyed free and clear of all liens, encumbrances, charges and other claims other than those arising under the Operating Agreement, the Securityholders Agreement, the Registration Rights Agreement, the Merger Agreement and any other Transaction Documents to which a Holder is a party (collectively, the “Holder Unit Documents”), in each case as then in effect); and
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(iii)such other customary documents, instruments and certificates as Holdings may reasonably request.
(c)At the Closing, Holdings shall pay to each exercising Holder, by wire transfer of immediately available funds to the account designated by such exercising Holders in writing at least two (2) Business Days prior to the Closing, an amount per Put Unit equal to the Price Per Unit (net of any deductions or withholdings made pursuant to Section 3 of this Agreement).
5.Representations and Warranties.
(a)As of the date hereof, Holdings represents and warrants to the Holders that:
(i)Holdings has the requisite organizational power and authority to enter into and perform this Agreement.
(ii)The execution, delivery and performance of this Agreement by Holdings has been duly and validly approved by Holdings.
(iii)This Agreement has been duly executed and delivered by Holdings and constitutes a legal, valid and binding agreement of Holdings, enforceable against Holdings in accordance with its terms, except as such enforceability may be limited by (A) applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or other Laws of general application relating to or affecting the enforcement of creditors’ rights generally or (B) Laws relating to the availability of specific performance, injunctive relief or other equitable remedies.
(b)As of the date hereof, and as of the date of the Closing, each Holder represents and warrants to Holdings, on a several and not joint basis, that:
(i)Such Holder has the requisite power and authority to enter into and perform this Agreement.
(ii)This Agreement has been duly executed and delivered by such Holder and constitutes a legal, valid and binding agreement of such Holder, enforceable against such Holder in accordance with its terms, except as such enforceability may be limited by (A) applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or other Laws of general application relating to or affecting the enforcement of creditors’ rights generally; or (B) Laws relating to the availability of specific performance, injunctive relief or other equitable remedies.
(iii)In respect of any Holdings LLC Units actually issued to the Holder, such Holder solely and absolutely owns, beneficially and of record, free and clear of all liens, encumbrances, charges and other claims other than those arising under the Holder Unit Documents, all of the Put Units which may be transferred hereunder, and has the full right, power and authority to transfer, assign and deliver to Holdings, in accordance with this Agreement, all of the Put Units.  Such Holder has not made any assignment, transfer, conveyance or other disposition of the Put Units to any third party, either voluntarily or
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involuntarily in violation of the Operating Agreement.  The Put Units to be transferred hereunder will be transferred free and clear of all liens, encumbrances, charges and other claims (including any pending indemnification claims under Article 7 of the Merger Agreement) other than those arising under the Holder Unit Documents.
6.Effectiveness; Termination.  This Agreement shall automatically terminate with respect to a Holder upon the earliest to occur of: (a) the Closing, and (b) the End Date; provided, however, that Sections 5, 6, 7, 8, 9, 10, 11 and 12 hereof shall survive any such termination and provided further that the obligations of Holdings to pay the Price Per Unit pursuant each exercise of the Put Option shall not terminate until such payment has been completed by Holdings.
7.Further Assurances.  Each party hereto shall execute and deliver all such further and additional instruments and agreements and shall take such further and additional actions, as may be reasonably necessary or desirable and as requested by the other party to evidence or carry out the provisions of this Agreement or to consummate the transactions contemplated hereby.
8.Assignment.  Neither this Agreement nor any right or obligation hereunder shall be assigned, delegated or otherwise transferred (whether voluntarily, by operation of law, by merger, or otherwise) by any party hereto, without the prior written consent of Holdings and each Holder, except for bona fide estate planning purposes or by will, upon death or by operation of law; provided, however, that in the event that a Holder is a venture  capital  fund, such Holder may assign its rights under this Agreement to an Affiliate, so long as any such Affiliate shall have agreed in writing to be bound by the terms of this Agreement.  Any attempted assignment, delegation or transfer in violation of this Section 8 shall be void and of no force or effect. For the avoidance of doubt, in the event of a Sale of the Company in which the consideration is other than cash or securities that have been registered under the Securities Act of 1933 (as amended, the “Securities Act”) or may be re-sold without restriction under Rule 144 under the Securities Act, Holdings shall continue to be bound by the terms of this Agreement.
9.Additional Holders.  Notwithstanding anything to the contrary contained herein, (a) any Company Securityholder that (i) delivers a Joinder Agreement and Letter of Transmittal properly completed by such Company Securityholder to Parent pursuant to Section 2.5(b) of the Merger Agreement, and (ii) will be entitled to receive Deferred Holdings LLC Units pursuant to the Merger Agreement, or (b) any Deferred Unit Recipient (other than a Company Indemnitor) that (i) is entitled to receive Deferred Holdings LLC Unit pursuant to Section 2.4(b) of the Merger Agreement and (ii) delivers joinders to the Operating Agreement, Securityholders Agreement and Registration Rights Agreement pursuant to Section 2.4(b)(i) of the Merger Agreement, may become a party to this Agreement by executing and delivering an additional counterparty signature page to this Agreement, and thereafter shall be deemed a “Holder” for all purposes hereunder (provided, that the requirements set forth in clauses (a)(ii) and (b)(ii) shall not be required for any Company Securityholder or Deferred Unit Recipient who has exercised such Person’s Put Option prior to the actual receipt of Units). No action or consent by the Holders shall be required for such joinder to this Agreement by such additional Holder, so long as such additional Holder has agreed in writing to be bound by all of the obligations as a “Holder” hereunder.
10.Binding Effect.  This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective heirs, legal representatives, successors, and permitted
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assigns.  Any Transferee of Holdings LLC Units (as defined in the Merger Agreement) shall agree to be bound by and subject to the terms of this Agreement as a Holder hereunder.
11.Notice.  All notices shall be deemed effectively given upon five business days after having been sent by registered or certified United States mail, return receipt requested, postage prepaid, or one business day after being sent, prepaid, by nationally recognized overnight courier that issues a receipt or other confirmation of delivery.  All notices sent in a manner described in the preceding sentence must also be sent via electronic mail, if an address for the recipient exists (provided that delivery by electronic mail alone shall not constitute adequate notice).  Notices delivered via electronic mail will be deemed given when actually received by the recipient, provided that by no later than two days thereafter such notice is confirmed in writing and sent via one of the methods described in the first sentence of this paragraph.  Notices delivered by personal service will be deemed given when actually received by the recipient.  All communications shall be sent to the respective parties at their address as set forth on the signature pages hereto, or to such e-mail address or address as subsequently modified by written notice given in accordance with this Section 10.
12.Governing Law.  This Agreement shall be enforced, governed by and construed in accordance with the Laws of the State of Delaware, without giving effect to any choice or conflict of law provision or rule that would cause the application of the Laws of any jurisdiction other than the State of Delaware.
13.Counterparts; Electronic Signature.  This Agreement may be executed in multiple counterparts, each of which when so executed and delivered shall be an original, and all of which when taken together shall constitute one and the same instrument.  Facsimile, .pdf and other electronic signatures to this Agreement shall have the same effect as original signatures.
[Remainder of Page Intentionally Left Blank]
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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly and validly executed as of the date first set forth above.
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	HOLDINGS:
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	MONDEE HOLDINGS, LLC
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	By:
	/s/ Prasad Gundumogula
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	Name:
	Prasad Gundumogula
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	Title:
	Manager
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	Address: 
	951 Mariners Island, Blvd., Suite 130 
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	San Mateo, CA 94404 
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	Attention: 
	Prasad Gundumogula
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	E-mail: 
	[***] 
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	with a copy to (which shall not constitute notice):
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	Address: 
	Hutchison PLLC 
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	3110 Edwards Mill Road, Suite 300 
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	Raleigh, NC 27612
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	Attention: 
	Justyn Kasierski 
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	John Rudd 
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	E-mail: 
	[***] 
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	[***]
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Signature Page to Put Option Agreement

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	HOLDER:
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	Canaan IX, L.P. 
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	By:
	/s/ Guy Russo 
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	Name:
	Guy Russo 
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	Title:
	General Partner 
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	Address: 
	[***] 
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	Attention: 
	N/A 
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	E-mail: 
	[***] 
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Signature Page to Put Option Agreement

	HOLDER:
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	/s/ Habib Kairouz
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	Address:
	[***]
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	E-mail:
	[***]
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Signature Page to Put Option Agreement

	HOLDER:
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	Kariba LLC
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	/s/ Michael Balmann
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	Name:
	Michael Balmann
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	Address:
	[***]
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	E-mail:
	[***]
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Signature Page to Put Option Agreement

	HOLDERS:
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	Bessemer Venture Partners IX Institutional L.P.
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	By: Deer IX & Co. L.P., their General Partner
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	By: Deer IX & Co. Ltd., its General Partner
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	By:
	/s/ Scott Ring
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	Name:
	Scott Ring
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	Title:
	General Counsel
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	Address:
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	E-mail:
[***]
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	Bessemer Venture Partners IX L.P.
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	By: Deer IX & Co. L.P., their General Partner
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	By: Deer IX & Co. Ltd., its General Partner
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	By:
	/s/ Scott Ring
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	Name:
	Scott Ring
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	Title:
	General Counsel
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	Address:
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	E-mail:
	[***]
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Signature Page to Put Option Agreement

	HOLDER:
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	Genacast Ventures, LLC
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	By:
	/s/ Derek H. Squire
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	Name:
	Derek H. Squire
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	Title:
	General Counsel
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	Address:
	[***]
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	E-mail:
	[***]
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Signature Page to Put Option Agreement

	HOLDER:
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	GV 2017, L.P.
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	By: GV 2017 GP, L.P., its general partner
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	By: GV 2017 GP, L.L.C., its general partner
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	By:
	/s/ Daphne Chang
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	Name:
	Daphne M. Chang
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	Title:
	Authorized Signatory
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	Address:
	[***]
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	E-mail:
	[***]
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Signature Page to Put Option Agreement

	HOLDER:
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	/s/ Paul Buchheit
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	Paul Buchheit
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	Address:
	[***]
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	Attention:
	Paul Buchheit
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	E-mail:
	[***]
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Signature Page to Put Option Agreement

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	HOLDER:
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	Silicon Valley Bank
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	By: 
	/s/ Jocelyn Hartmann
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	Name: 
	Jocelyn Hartmann
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	Title: 
	Managing Director
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	Address:
	[***]
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	Attention:
	Jocelyn Hartmann
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	E-mail:
	[***]
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Signature Page to Put Option Agreement

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	HOLDER:
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	The Board of Trustees of the Leland Stanford Junior University (DAPER I)

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	By: 
	/s/ Brian Talbott
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	Name:
	Brian Talbott
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	Title:
	Authorized Signatory
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	Address:
	[***]
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	E-mail:
	[***]
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Signature Page to Put Option Agreement

	HOLDER:
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	TTEES UTD 6/22/2012 Jeffery E. Epstein and Sue H. Epstein

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	By:
	/s/ Jeffrey Epstein
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	Name:
	Jeffrey Epstein
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	Title:
	Trustee
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	Address:
	[***]
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	Attention:
	Jeffrey Epstein
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	E-mail:
	[***]
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Signature Page to Put Option Agreement

EXHIBIT A
Holders
	Holder

	Bessemer Venture Partners IX Institutional L.P.

	Bessemer Venture Partners IX L.P.

	Canaan IX, L.P.

	Crunch Fund II, L.P.

	Genacast Ventures, LLC

	GV 2017, L.P.

	Habib Kairouz

	Kariba, LLC

	Paul Buchheit

	Silicon Valley Bank

	The Board of Trustees of the Leland Stanford Junior University (DAPER I)

	TTEES UTD 6/22/2012 Jeffrey E. Epstein and Sue H. Epstein

	YCVC W14, LLC

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EXHIBIT B
Form of Exercise Notice
NOTICE OF EXERCISE OF PUT OPTION
	To:
	Mondee Holdings, LLC
951 Mariners Island Blvd., Suite 130
San Mateo, CA 94404

Date:
Reference is made to the Put Option Agreement, dated September [3], 2020 (the “Put Option Agreement”), by and among Mondee Holdings, LLC (“Holdings”) and the Holders named therein. Capitalized terms used but not defined herein shall have the meaning ascribed to such term sin the Put Option Agreement.
In accordance with Section 2(a) of the Put Option Agreement, the undersigned hereby irrevocably exercises its option to require Holdings to purchase all of the Put Units held by the undersigned or issuable to the undersigned pursuant to the terms of the Put Option Agreement.
	[ENTITY NAME]

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	By:
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	Name:

	Title:

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​Exhibit 10.25

NOTE
	Date
	4/5/2020

	Note Amount
	$ 4,292,260

	Borrower
	Mondee, Inc.

	Lender
	JP Morgan Chase Bank, N.A.

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1.PROMISE TO PAY.
Borrower promises to pay to the order of Lender the Note Amount, plus interest on the unpaid principal balance at the Note Rate, and all other amounts required by this Note.
2.DEFINITIONS.
“CARES Act” means the Coronavirus Act, Relief, and Economic Security Act.
“Deferral Period” means the six month period beginning on the date of this Notice.
“Loan” means the loan evidence by this Note.
“Maturity Date” means twenty-four (24) months from the date of this Notice.
“Note Rate” means an interest rate of 0.98% Per Annum and interest shall accrue on the unpaid principal balance computed on the basis of the actual number of days elapsed in a year of 360 days.
“Per Annum” means for a year deemed to be comprised of 360 days.
“SBA” means the Small Business Administration, an Agency of the United States of America.
3.CONDITIONS PRECEDENT TO FUNDING OF LOAN.
Before the funding of the Loan, the following conditions must be satisfied:
A.Lender has approved the request for the Loan.
B.Lender has received approval from SBA to fund the Loan.
4.PAYMENT TERMS.
Borrower will pay this Note as follows:
		A.
	No Payments During Deferral Period. There shall be no payments due by Borrower during the Deferral Period.

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		B.
	Principal and Interest Payments. Commencing one month after the expiration of the Deferral Period, and continuing on the same day of each month thereafter until the Maturity Date, Borrower shall pay to Lender monthly payments of principal and interest, each in such equal amount required to fully amortize the principal amount outstanding on the Note on the last day of the Deferral Period by the Maturity Date.

		C.
	Maturity Date. On the Maturity Date, Borrower shall pay to Lender any and all unpaid principal plus accrued and unpaid interest plus interest accrued during the Deferral Period. This Note will mature on the Maturity Date.

		D.
	If any payment is due on a date for which there is no numerical equivalent in a particular calendar month then it shall be due on the last day of such month. If any payment is due on a day that is not a Business Day, the payment will be made on the next Business Day. The term “Business Day” means a day other than a Saturday, Sunday or any other day on which national banking associations are authorized to be closed.

		E.
	Payments shall be allocated among principal and interest at the discretion of Lender unless otherwise agreed or required by applicable law. Notwithstanding, in the event the Loan, or any portion thereof, is forgiven pursuant to the Paycheck Protection Program under the federal CARES Act, the amount so forgiven shall be applied to principal.

		F.
	Borrower may prepay this Note at any time without payment of any premium.

5. CERTIFICATIONS.
Borrower certifies as follows:
		A.
	Current economic uncertainty makes this Loan necessary to support the ongoing operations of Borrower.

		B.
	Loan funds will be used to retain workers and maintain payroll or make mortgage payments, lease payments, and utility payments.

		C.
	During the period beginning on February 15, 2020 and ending on December 31, 2020, Borrower has not and will not receive another loan under this program.

		D.
	Borrower was in operation on February 15, 2020 and (i) had employees for whom it paid salaries and payroll taxes, or (ii) paid independent contractors as reported on a 1099-Misc.

6.AGREEMENTS.
Borrower understands and agrees, and waives and releases Lender, as follows:
		A.
	The Loan would be made under the SBA’s Paycheck Protection Program. Accordingly, it must be submitted to and approved by the SBA. There is limited

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funding available under the Paycheck Protection Program and so all applications submitted will not be approved by the SBA.
		B.
	Lender is participating in the Payroll Protection Program to help businesses impacted by the economic impact from COVID-19. However, Lender anticipates high volume and there may be processing delays and system failures along with other issues that interfere with submission of your application to SBA. Lender does not represent or guarantee that it will submit the application before SBA funding is no longer available or at all. You agree that Lender is not responsible or liable to you (i) if the application is not submitted to the SBA until after SBA stops approving applications, for any reason or (ii) if the application is not processed. You forever release and waive any claims against Lender concerning failure to obtain the Loan. This release and waiver applies to but is not limited to any claims concerning Lender’s (i) pace, manner or systems for processing or prioritizing applications, or (ii) representations by Lender regarding the application process, the Paycheck Protection Program, or availability of funding. This agreed to release and waiver supersedes any prior communications, understandings, agreements or communications on the issues set forth herein.

		C.
	Forgiveness of the Loan is only available for principal that is used for the limited purposes that qualify for forgiveness under SBA requirements, and that to obtain forgiveness, Borrower must request it and must provide documentation in accordance with the SBA requirements, and certify that the amounts Borrower is requesting to be forgiven qualify under those requirements. Borrower also understand that Borrower shall remain responsible under the Loan for any amounts not forgiven, and that interest payable under the Loan will not be forgiven but that the SBA may pay the Loan interest on forgiven amounts.

		D.
	Forgiveness is not automatic and Borrower must request it. Borrower is not relying on Lender for its understanding of the requirements for forgiveness such as eligible expenditures, necessary records/documentation, or possible reductions due to changes in number of employees or compensation. Rather Borrower will consult the SBA’s program materials.

		E. 
	The application for this Loan is subject to review and that Borrower may not receive the Loan. The Loan also remains subject to availability of funds under the SBA’s Payment Protection Program, and to the SBA issuing an SBA loan number.

7. DEFAULT.
Borrower is in default under this Note if Borrower:
		A.
	Fails to make a payment when due under the Note or otherwise fails to comply with any provision of this Note.

		B.
	Does not disclose, or anyone acting on its behalf does not disclose, any material fact to Lender or SBA.

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		C.
	Makes, or anyone acting on its behalf makes, a materially false or misleading representation, attestation or certification to Lender or SBA in connection with Borrower’s request for this Loan under the CARES Act, or makes a false certification under paragraph 5 of this Note.

		D.
	Fails to comply with all of the provisions of this Note.

		E.
	Becomes the subject of a proceeding under any bankruptcy or insolvency law, has a receiver or liquidator appointed for any part of its business or property, or makes an assignment for the benefit of creditors.

		F.
	Reorganizes, merges, consolidates, or otherwise changes ownership or business structure without Lender’s prior written consent.

		G.
	Becomes the subject of a civil or criminal action that Lender believes may materially affect Borrower’s ability to pay this Note.

8. LENDER’S RIGHTS IF THERE IS A DEFAULT.
Without notice or demand and without giving up any of its rights, Lender may:
		A.
	Require immediate payment of all amounts owing under this Note.

		B.
	Collect all amounts owing from Borrower.

		C.
	File suit and obtain judgment.

9. LENDER’S GENERAL POWERS.
Without notice or Borrower’s consent, Lender may incur expenses to collect amounts due under this Note and enforce the terms of this Note. Among other things, the expenses may include reasonable attorney’s fees and costs. If Lender incurs such expenses, it may demand immediate repayment from Borrower or add the expenses to the principal balance;
10.GOVERNING LAW AND VENUE; WHEN FEDERAL LAW APPLIES.
When SBA is the holder, this Note shall be interpreted and enforced under federal law, including SBA regulations. Lender or SBA may use state or local procedures for filing papers, recording documents, giving notice, foreclosing liens, and other purposes. By using such procedures, SBA does not waive any federal immunity from state or local control, penalty, tax, or liability. As to this Note, Borrower may not claim or assert against SBA any local or state law to deny any obligation, defeat any claim of SBA, or preempt federal law.
If the SBA is not the holder, this Note shall be governed by and construed in accordance with the laws of the State of Ohio where the main office of Lender is located. MATTERS REGARDING INTEREST TO BE CHARGED BY LENDER AND THE EXPORTATION OF INTEREST SHALL BE GOVERNED BY FEDERAL LAW
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(INCLUDING WITHOUT LIMITATION 12 U.S.C. SECTIONS 85 AND 1831u) AND THE LAW OF THE STATE OF OHIO. Borrower agrees that any legal action or proceeding with respect to any of its obligations under this Note may be brought by Lender in any state or federal court located in the State of Ohio, as Lender in its sole discretion may elect. Borrower submits to and accepts in respect of its property, generally and unconditionally, the non-exclusive jurisdiction of those courts. Borrower waives any claim that the State of Ohio is not a convenient forum or the proper venue for any such suit, action or proceeding. The extension of credit that is the subject of this Note is being made by Lender in Ohio.
11.SUCCESSORS AND ASSIGNS.
Under this Note, Borrower includes its successors, and Lender includes its successors and assigns.
12.GENERAL PROVISIONS.
		A.
	Borrower must sign all documents necessary at any time to comply with the Loan.

		B.
	Borrower’s execution of this Note has been duly authorized by all necessary actions of its governing body. The person signing this Note is duly authorized to do so on behalf of Borrower.

		C.
	This Note shall not be governed by any existing or future credit agreement or loan agreement with Lender. The liabilities guaranteed pursuant to any existing or future guaranty in favor of Lender shall not include this Note. The liabilities secured by any existing or future security instrument in favor Lender shall not include this Note.

		D.
	Lender may exercise any of its rights separately or together, as many times and in any order it chooses. Lender may delay or forgo enforcing any of its rights without giving up any of them.

		E.
	Borrower may not use an oral statement of Lender or SBA to contradict or alter the written terms of this Note.

		F.
	If any part of this Note is unenforceable, all other parts remain in effect.

		G.
	To the extent allowed by law, Borrower waives all demands and notices in connection with this Note, including presentment, demand, protest, and notice of dishonor.

		H.
	Borrower’s liability under this Note will continue with respect to any amounts SBA may pay Bank based on an SBA guarantee of this Note. Any agreement with Bank under which SBA may guarantee this Note does not create any third party rights or benefits for Borrower and, if SBA pays Bank under such an agreement, SBA or Bank may then seek recovery from Borrower of amounts paid by SBA.

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5

		I.
	Lender reserves the right to modify the Note Amount based on documentation received from Borrower.

13.ELECTRONIC SIGNATURES.
Borrower’s electronic signature shall have the same force and effect as an original signature and shall be deemed (i) to be “written” or “in writing” or an “electronic record”, (ii) to have been signed and (iii) to constitute a record established and maintained in the ordinary course of business and an original written record when printed from electronic files. Such paper copies or “printouts,” if introduced as evidence in any judicial, arbitral, mediation or administrative proceeding, will be admissible as between the parties to the same extent and under the same conditions as other original business records created and maintained in documentary form.
14. BORROWER’S NAME AND SIGNATURE.
	Borrower:
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	Mondee, Inc.
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	​
	​
	​

	​
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	By:
	/s/ Prasad Gundumogula
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	Printed Name:  Prasad Gundumogula
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	Title:  CEO
	​

	Date Signed:  4/5/2020
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6

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