Document:

EX-4.7

 Exhibit 4.7 

REGISTRATION RIGHTS AGREEMENT 

by and among 
 Blackstone
Private Credit Fund, 
 Citigroup Global Markets Inc. 

Goldman Sachs & Co. LLC 

SMBC Nikko Securities America, Inc. 

Truist Securities, Inc. 

and 
 Wells Fargo Securities,
LLC 
 Dated as of January 18, 2022 
  

 REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (this “Agreement”) is made and entered into as of January 18, 2022, by and
among Blackstone Private Credit Fund, a Delaware statutory trust (the “Company”), and Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, SMBC Nikko Securities America, Inc., Truist Securities, Inc. and Wells
Fargo Securities, LLC, as the representatives (together, the “Representatives”) to the other several initial purchasers (collectively, the “Initial Purchasers”) of $650,000,000 aggregate principal
amount of the Company’s 4.000% Notes due 2029 (the “Notes”) listed on Schedule A to the Purchase Agreement (as defined below). 

This Agreement is made pursuant to the Purchase Agreement, dated as of January 10, 2022 (the “Purchase
Agreement”), among the Company and the Representatives on behalf of the Initial Purchasers (i) for the benefit of the Initial Purchasers and (ii) for the benefit of the holders from time to time of the Registrable Notes,
including the Initial Purchasers. In order to induce the Initial Purchasers to purchase the Notes, the Company has agreed to provide the registration rights set forth in this Agreement. The execution and delivery of this Agreement is a condition to
the obligations of the Initial Purchasers as set forth in Section 7(i) of the Purchase Agreement. The parties hereby agree as follows: 

SECTION 1. Definitions. As used in this Agreement, the following capitalized terms shall have the following meanings: 

Additional Interest: As defined in Section 5 hereof. 

Advice: As defined in the last paragraph of Section 6 hereof. 

Agreement: As defined in the preamble hereto. 

Broker-Dealer: Any broker or dealer registered under the Exchange Act. 

Business Day: Any day other than a Saturday, Sunday or U.S. federal holiday or a day on which banking institutions or
trust companies located in New York, New York are authorized or obligated to be closed. 
 Commission: The U.S.
Securities and Exchange Commission. 
 Company: As defined in the preamble hereto. 

Consummate: A registered Exchange Offer shall be deemed “Consummated” for purposes of this Agreement upon the
occurrence of (i) the filing with the Commission of the Exchange Offer Registration Statement relating to the Exchange Notes to be issued in the Exchange Offer and its becoming or being declared effective under the Securities Act, (ii) the
maintenance of the continuous effectiveness of such Registration Statement, and the keeping of the Exchange Offer open, for a period not less than the minimum period required pursuant to Section 3(b) hereof, and (iii) the delivery by the
Company to the Registrar under the Indenture of Exchange Notes in the same aggregate principal amount as the aggregate principal amount of Notes that were tendered by Holders thereof pursuant to the Exchange Offer. 

Controlling Person: As defined in Section 8(a) hereof.  

 Exchange Act: The Securities Exchange Act of 1934, as amended, and the
rules and regulations promulgated thereunder. 
 Exchange Offer: The registration by the Company under the Securities
Act of the Exchange Notes pursuant to a Registration Statement pursuant to which the Company offers the Holders of all outstanding Registrable Notes the opportunity to exchange all such outstanding Registrable Notes held by such Holders for Exchange
Notes in an aggregate principal amount equal to the aggregate principal amount of the Registrable Notes tendered in such exchange offer by such Holders. 

Exchange Offer Registration Statement: The Registration Statement relating to the Exchange Offer, including the related
Prospectus. 
 Exchange Notes: The 4.000% Notes due 2029 of the same series under the Indenture as the Notes, to be
issued to Holders in exchange for Registrable Notes pursuant to this Agreement. 
 FINRA: Financial Industry Regulatory
Authority, Inc. 
 Holder: As defined in Section 2(b) hereof. 

Indemnified Holder: As defined in Section 8(a) hereof. 

Indenture: The Base Indenture, dated as of September 15, 2021, as supplemented by the First Supplemental Indenture,
dated as of September 15, 2021, the Second Supplemental Indenture, dated as of September 15, 2021, the Third Supplemental Indenture, dated as of November 2, 2021, the Fourth Supplemental Indenture, dated as of November 22, 2021,
the Fifth Supplemental Indenture, dated as of November 22, 2021, the Sixth Supplemental Indenture, to be dated as of January 18, 2022, and the Seventh Supplemental Indenture, to be dated as of January 18, 2022, by and between the
Company and the Trustee, pursuant to which the Notes are to be issued, as such Indenture may be amended or supplemented from time to time in accordance with the terms thereof. 

Initial Placement: The issuance and sale by the Company of the Notes to the Initial Purchasers pursuant to the Purchase
Agreement. 
 Initial Purchasers: As defined in the preamble hereto. 

Interest Payment Date: As defined in the Indenture and the Notes. 

Issue Date: The date of this Agreement, January 18, 2022. 

Notes: As defined in the preamble hereto. 

Person: Any individual, corporation, limited liability company, partnership, joint venture, association, joint stock
company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 

Prospectus: The prospectus included in a Registration Statement, as amended or supplemented by any prospectus supplement
and by all other amendments thereto, including post-effective amendments, and all material incorporated by reference into such Prospectus. 

Purchase Agreement: As defined in the preamble hereto. 

  
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 Registrable Notes: Each Note, until the earliest to occur of
(a) the date on which such Note is exchanged in the Exchange Offer for an Exchange Note entitled to be resold to the public by the Holder thereof without complying with the prospectus delivery requirements of the Securities Act, (b) the
date on which such Note has been effectively registered under the Securities Act and disposed of in accordance with a Shelf Registration Statement, (c) the date on which such Note is distributed by a Broker-Dealer pursuant to the “Plan of
Distribution” contemplated by the Exchange Offer Registration Statement (including delivery of the Prospectus contained therein), (d) the date on which such Note does not bear a restricted CUSIP number and is sold pursuant to Rule 144
under the Securities Act under circumstances in which any legend borne by such Note relating to restrictions on transferability thereof, under the Securities Act or otherwise, is removed by the Company or pursuant to the Indenture and (e) the
date on which such Note ceases to be outstanding. 
 Registration Default: As defined in Section 5 hereof. 

Registration Statement: Any registration statement of the Company relating to (a) an offering of Exchange Notes
pursuant to an Exchange Offer or (b) the registration for resale of Registrable Notes pursuant to the Shelf Registration Statement, which is filed pursuant to the provisions of this Agreement, in each case, including the Prospectus included
therein, all amendments and supplements thereto (including post-effective amendments) and all exhibits and material incorporated by reference therein. 

Representative: As defined in the preamble hereto. 

Securities Act: The Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. 

Shelf Filing Deadline: As defined in Section 4(a)(x) hereof. 

Shelf Registration Statement: As defined in Section 4(a)(x) hereof. 

Suspension Period: As defined in the final paragraph of Section 4(a) hereof. 

Trustee: U.S. Bank National Association. 

Trust Indenture Act: The Trust Indenture Act of 1939, as amended, and the rules and regulations promulgated thereunder.

 Underwritten Registration or Underwritten Offering: A registration in which securities of the Company are sold to an
underwriter for reoffering to the public. 
 SECTION 2. Notes Subject to this Agreement. 

 

	 	(a)	 Registrable Notes. The securities entitled to the benefits of this Agreement are the Registrable Notes.

  

	 	(b)	 Holders of Registrable Notes. A Person is deemed to be a holder of Registrable Notes (each, a
“Holder”) whenever such Person owns Registrable Notes. 

  
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 SECTION 3. Registered Exchange Offer. 

 

	 	(a)	 Unless the Exchange Offer shall not be permissible under applicable law or Commission policy, the Company shall
(i) use its commercially reasonable efforts to cause the Exchange Offer to be Consummated on the earliest practicable date after the Exchange Offer Registration Statement has become or been declared effective, but in no event later than 365
days after the Issue Date (or if such 365th day is not a Business Day, the next succeeding Business Day) and (ii) in connection with the foregoing, (A) file all pre-effective amendments to such
Registration Statement as may be necessary in order to cause such Registration Statement to become or be declared effective, (B) if applicable, file a post-effective amendment to such Registration Statement pursuant to Rule 430A under the
Securities Act and (C) cause all necessary filings in connection with the registration and qualification of the Exchange Notes to be made under the state securities or blue sky laws of such jurisdictions as are necessary to permit Consummation
of the Exchange Offer. The Exchange Offer Registration Statement shall be on the appropriate form permitting registration of the Exchange Notes to be offered in exchange for the Registrable Notes and to permit resales of Notes held by Broker-Dealers
as contemplated by Section 3(c) hereof. The Company shall use its commercially reasonable efforts to cause all Exchange Notes to have the same CUSIP number. 

 

	 	(b)	 The Company shall use its commercially reasonable efforts to cause the Exchange Offer Registration Statement to
be effective continuously and shall keep the Exchange Offer open for a period of not less than the minimum period required under applicable federal and state securities laws to Consummate the Exchange Offer; provided, however, that in no
event shall such period be less than 20 Business Days after the commencement of the Exchange Offer. The Company shall cause the Exchange Offer to comply with all applicable federal and state securities laws. No securities other than the Exchange
Notes shall be included in the Exchange Offer Registration Statement. 

  

	 	(c)	 The Company shall indicate in a “Plan of Distribution” section contained in the Prospectus forming a
part of the Exchange Offer Registration Statement that any Broker-Dealer who holds Notes that are Registrable Notes and that were acquired for its own account as a result of market-making activities or other trading activities (other than
Registrable Notes acquired directly from the Company) may exchange such Notes pursuant to the Exchange Offer; however, such Broker-Dealer may be deemed to be an “underwriter” within the meaning of the Securities Act and must, therefore,
deliver a prospectus meeting the requirements of the Securities Act in connection with any resales of the Exchange Notes received by such Broker-Dealer in the Exchange Offer, which prospectus delivery requirement may be satisfied by the delivery by
such Broker-Dealer of the Prospectus contained in the Exchange Offer Registration Statement. Such “Plan of Distribution” section shall also contain all other information with respect to such resales by Broker-Dealers that the Commission
may require in order to permit such resales pursuant thereto, but such “Plan of Distribution” shall not name any such Broker-Dealer or disclose the amount of Notes held by any such Broker-Dealer except to the extent required by the
Commission. 

 The Company shall use its commercially reasonable efforts to keep the Exchange Offer Registration Statement
continuously effective, supplemented and amended as required by the provisions of Section 6(c) hereof to the extent necessary to ensure that it is available for resales of Notes acquired by Broker-Dealers for their own accounts as a result of
market-making activities or other trading activities, and to ensure that it conforms with the requirements of this Agreement, the Securities Act and the policies, rules and regulations of the Commission as announced from time to time, for a period
ending on the earlier of (i) 180 days from the date on which the Exchange Offer Registration Statement becomes or is declared effective and (ii) the date on which a Broker-Dealer is no longer required to deliver a prospectus in connection with
market-making or other trading activities. 

  
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 The Company shall provide sufficient copies of the latest version of such Prospectus to
Broker-Dealers promptly upon request at any time during such 180-day (or shorter as provided in the foregoing paragraph) period in order to facilitate such resales. 

SECTION 4. Shelf Registration. 
  

	 	(a)	 Shelf Registration. If (i) the Company is not required to file an Exchange Offer Registration
Statement or to consummate the Exchange Offer because the Exchange Offer is not permitted by applicable law or Commission policy, (ii) for any reason the Exchange Offer is not Consummated within 365 days after the Issue Date (or if such 365th
day is not a Business Day, the next succeeding Business Day), or (iii) with respect to any Holder of Registrable Notes (A) such Holder is prohibited by applicable law or Commission policy from participating in the Exchange Offer,
(B) such Holder may not resell the Exchange Notes acquired by it in the Exchange Offer to the public without delivering a prospectus and the Prospectus contained in the Exchange Offer Registration Statement is not appropriate or available for
such resales by such Holder or (C) such Holder is a Broker-Dealer and holds Notes acquired directly from the Company or one of its affiliates, then, upon such Holder’s request, the Company shall: 

(x) cause to be filed a shelf registration statement pursuant to Rule 415 under the Securities Act, which may be an amendment
to the Exchange Offer Registration Statement (in either event, the “Shelf Registration Statement”), as soon as practicable, but in no event later than the earliest to occur of (1) the 60th day after the date on which the
Company determines that it is not required to file the Exchange Offer Registration Statement, (2) the 60th day after the date on which the Company receives notice from a Holder of Registrable Notes as contemplated by clause (iii) above and
(3) the 365th day after the Issue Date (or if such 365th day is not a Business Day, the next succeeding Business Day) (the “Shelf Filing Deadline”), which Shelf Registration Statement shall provide for resales of all
Registrable Notes the Holders of which shall have provided the information required pursuant to Section 4(b) hereof; and 

(y) use its commercially reasonable efforts to cause such Shelf Registration Statement to become or be declared effective by
the Commission at the earliest possible time, but in no event later that the 120th day after the Shelf Filing Deadline (or if such 120th day is not a Business Day, the next succeeding Business Day). 

The Company shall use its commercially reasonable efforts to keep such Shelf Registration Statement continuously effective, supplemented and
amended as required by the provisions of Sections 6(b) and (c) hereof to the extent necessary to ensure that it is available for resales of Registrable Notes entitled to the benefit of this Section 4(a), and to ensure that it conforms with
the requirements of this Agreement, the Securities Act and the policies, rules and regulations of the Commission as announced from time to time, for a period of at least one year following the effective date of such Shelf Registration Statement (or
shorter period that will terminate when all the Notes covered by such Shelf Registration Statement have been sold pursuant to such Shelf Registration Statement or are otherwise no longer Registrable Notes). 

Notwithstanding the foregoing, the Company may suspend the offering and sale under the Shelf Registration Statement (the
“Suspension Period”) for a period or periods if (i) the board of trustees reasonably determines that the continued use of such Shelf Registration Statement would (A) require the Company to make a public disclosure
of material non-public information, which disclosure in the good faith judgment of the board of trustees of the Company (1) would be required to be made in such Shelf Registration Statement so that such
Shelf Registration Statement would not be materially misleading and 

  
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(2) would not be required to be made at such time but for the continued use of such Shelf Registration Statement or (B) would in the good faith and judgment of the board of trustees of the
Company be expected to have a material adverse effect on the Company or its business or on the Company’s ability to effect a planned or proposed acquisition, disposition, financing, reorganization, recapitalization or similar transaction and
(ii) the Company notifies the underwriters, if any, and the Holders of Registrable Notes within five days after the board of trustees makes the relevant determination set forth in clause (i); provided that the period or periods of
suspension under clause (i) above shall not exceed, in the aggregate, 60 days in any twelve-month period during which the Shelf Registration Statement is required to be effective. 

 

	 	(b)	 Provision by Holders of Certain Information in Connection with the Shelf Registration Statement. No
Holder of Registrable Notes may include any of its Registrable Notes in any Shelf Registration Statement pursuant to this Agreement unless and until such Holder furnishes to the Company in writing, within 10 Business Days after receipt of a request
therefor, such information as the Company may reasonably request for use in connection with any Shelf Registration Statement or Prospectus or preliminary Prospectus included therein or amendment or supplement thereto. Each Holder as to which any
Shelf Registration Statement is being effected agrees to furnish promptly to the Company all information required to be disclosed in order to make the information previously furnished to the Company by such Holder not materially misleading.

 SECTION 5. Additional Interest. If (i) unless the Exchange Offer shall not be permissible under
applicable law or Commission policy, the Exchange Offer Registration Statement has not been Consummated on or prior to the 365th day after the Issue Date (or if such 365th day is not a Business Day, the next succeeding Business Day), (ii) in
the event the Company is required to file a Shelf Registration Statement pursuant to Section 4(a) hereof, (A) the Shelf Registration Statement is not filed by the Shelf Filing Deadline or (B) the Shelf Registration Statement has not
become or been declared effective by the Commission on or prior to the 120th day after the Shelf Filing Deadline (or if such 120th day is not a Business Day, the next succeeding Business Day) or (iii) any Registration Statement required by this
Agreement is filed and declared effective but shall thereafter cease to be effective or fail to be usable for its intended purpose without being immediately succeeded by a post-effective amendment to such Registration Statement that cures such
failure and that is itself immediately declared effective (each such event referred to in clauses (i) through (iii), a “Registration Default”) then, with respect to the first
90-day period immediately following the occurrence of such Registration Default, the interest rate on the Registrable Notes will be increased by 0.25% per annum and will increase by an additional 0.25% per
annum on the principal amount of Notes with respect to each subsequent 90-day period, up to a maximum of additional interest of 0.50% per annum (“Additional Interest”). Any amounts of
Additional Interest due pursuant to this Section 5 will be paid in cash on the relevant Interest Payment Date to Holders of record on the relevant regular record dates. Following the cure of all Registration Defaults relating to any particular
Registrable Notes, the interest rate borne by the relevant Registrable Notes will be reduced to the original interest rate borne by such Registrable Notes; provided, however, that, if after any such reduction in interest rate, a
different Registration Default occurs, the interest rate borne by the relevant Registrable Notes shall again be increased pursuant to the foregoing provisions. 

All obligations of the Company set forth in the preceding paragraph that are outstanding with respect to any Registrable Note at the time such
security ceases to be a Registrable Note shall survive until such time as all such obligations with respect to such security shall have been satisfied in full. 

Notwithstanding the foregoing, (i) the amount of Additional Interest payable shall not increase because more than one Registration
Default has occurred and is pending at any given time and (ii) a Holder of Registrable Notes that has not provided the information required pursuant to Section 4(b) hereof within the time period set forth therein shall not be entitled to
Additional Interest with respect to a Registration Default that pertains to the relevant Shelf Registration Statement. 

  
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 SECTION 6. Registration Procedures. 

 

	 	(a)	 Exchange Offer Registration Statement. In connection with the Exchange Offer, the Company shall comply
with all of the applicable provisions of Section 6(c) hereof, shall use its commercially reasonable efforts to effect such exchange to permit the sale of Registrable Notes being sold in accordance with the intended method or methods of
distribution thereof, and shall comply with all of the following provision: 

  

	 	(i)	 As a condition to its participation in the Exchange Offer pursuant to the terms of this Agreement, each Holder
of Registrable Notes shall furnish, upon the request of the Company, prior to the Consummation thereof, a written representation to the Company (which may be contained in the letter of transmittal contemplated by the Exchange Offer Registration
Statement) to the effect that (A) it is not an affiliate of the Company, (B) it is not engaged in, and does not intend to engage in, and has no arrangement or understanding with any Person to participate in, a distribution of the Exchange
Notes to be issued in the Exchange Offer, (C) it is acquiring the Exchange Notes in its ordinary course of business, (D) if it is a Broker-Dealer that holds Notes that were acquired for its own account as a result of market-making
activities or other trading activities (other than Notes acquired directly from the Company or any of its affiliates), it will deliver a prospectus meeting the requirements of the Securities Act in connection with any resales of the Exchange Notes
received by it in the Exchange Offer, and (E) if it is a Broker-Dealer, that it did not purchase the Notes to be exchanged in the Exchange Offer from the Company or any of its affiliates. In addition, all such Holders of Registrable Notes shall
otherwise cooperate in the Company’s preparations for the Exchange Offer. Each Holder hereby acknowledges and agrees that any Broker-Dealer and any such Holder using the Exchange Offer to participate in a distribution of the securities to be
acquired in the Exchange Offer (1) could not under Commission policy as in effect on the date of this Agreement rely on the position of the Commission enunciated in Morgan Stanley and Co., Inc. (available June 5, 1991) and Exxon
Capital Holdings Corporation (available May 13, 1988), as interpreted in the Commission’s letter to Shearman & Sterling dated July 2, 1993, and similar no-action letters (which may
include any no-action letter obtained pursuant to clause (i) above), and (2) must comply with the registration and prospectus delivery requirements of the Securities Act in connection with a
secondary resale transaction and that such a secondary resale transaction should be covered by an effective registration statement containing the selling security holder information required by Item 507 or 508, as applicable, of Regulation S-K if the resales are of Exchange Notes obtained by such Holder in exchange for Notes acquired by such Holder directly from the Company. 

 

	 	(b)	 Shelf Registration Statement. In connection with the Shelf Registration Statement, the Company shall
comply with all the provisions of Section 6(c) hereof and shall use its commercially reasonable efforts to effect such registration to permit the sale of the Registrable Notes being sold in accordance with the intended method or methods of
distribution thereof, and pursuant thereto the Company will as expeditiously as is commercially reasonable prepare and file with the Commission a Shelf Registration Statement relating to the registration on any appropriate form under the Securities
Act, which form shall be available for the sale of the Registrable Notes in accordance with the intended method or methods of distribution thereof. 

  
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	 	(c)	 General Provisions. In connection with any Registration Statement and any Prospectus required by this
Agreement to permit the sale or resale of Registrable Notes (including, without limitation, any Registration Statement and the related Prospectus required to permit resales of Notes by Broker-Dealers), the Company shall: 

 

	 	(i)	 use its commercially reasonable efforts to keep such Registration Statement continuously effective during the
period required by this Agreement and provide all requisite financial statements; 

  

	 	(ii)	 upon the occurrence of any event that would cause any such Registration Statement or the Prospectus contained
therein (A) to contain a material misstatement or omission or (B) not to be effective and usable for resale of Registrable Notes during the period required by this Agreement, the Company shall file promptly an appropriate amendment to such
Registration Statement, in the case of clause (A), correcting any such misstatement or omission, and, in the case of either clause (A) or (B), use its commercially reasonable efforts to cause such amendment to become or be declared effective
and such Registration Statement and the related Prospectus to become usable for their intended purpose(s) as soon as practicable thereafter; 

  

	 	(iii)	 prepare and file with the Commission such amendments and post-effective amendments to the applicable
Registration Statement as may be necessary to keep the Registration Statement effective for the applicable period set forth in Section 3 or 4 hereof, as applicable, or such shorter period as will terminate when all Registrable Notes covered by
such Registration Statement have been sold; cause the Prospectus to be supplemented by any required Prospectus supplement, and as so supplemented to be filed pursuant to Rules 424 or 497 under the Securities Act, and to comply fully with the
applicable provisions of Rules 424, 430A and 497 under the Securities Act in a timely manner; and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such Registration Statement during the
applicable period in accordance with the intended method or methods of distribution by the sellers thereof set forth in such Registration Statement or supplement to the Prospectus; 

 

	 	(iv)	 advise the underwriter(s), if any, and selling Holders promptly and, if requested by such Persons, to confirm
such advice in writing, (A) when the Prospectus or any Prospectus supplement or post-effective amendment has been filed, and, with respect to any Registration Statement or any post-effective amendment thereto, when the same has become or been
declared effective, (B) of any request by the Commission for amendments to the Registration Statement or amendments or supplements to the Prospectus or for additional information relating thereto, (C) of the issuance by the Commission of
any stop order suspending the effectiveness of the Registration Statement under the Securities Act or of the suspension by any state securities commission of the qualification of the Registrable Notes for offering or sale in any jurisdiction, or the
initiation of any proceeding for any of the preceding purposes, (D) of the existence of any fact or the happening of any event that makes any statement of a material fact made in the Registration

  
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Statement, the Prospectus, any amendment or supplement thereto, or any document incorporated by reference therein untrue, or that requires the making of any additions to or changes in the
Registration Statement or the Prospectus in order to make the statements therein not misleading. If at any time the Commission shall issue any stop order suspending the effectiveness of the Registration Statement, or any state securities commission
or other regulatory authority shall issue an order suspending the qualification or exemption from qualification of the Registrable Notes under state securities or blue sky laws, the Company shall use its commercially reasonable efforts to obtain the
withdrawal or lifting of such order at the earliest possible time; 

  

	 	(v)	 furnish without charge to the Initial Purchasers, each selling Holder named in any Registration Statement that
has requested such copies, if any, and each of the underwriter(s), if any, before filing with the Commission, copies of any Registration Statement or any Prospectus included therein or any amendments or supplements to any such Registration Statement
or Prospectus (other than any documents that will be incorporated by reference in such Registration Statement or Prospectus), which documents will be subject to the review and comment of such requesting Holders and underwriter(s) in connection with
such sale, if any, for a period of at least five Business Days, and the Company will not file any such Registration Statement or Prospectus or any amendment or supplement to any such Registration Statement or Prospectus to which the Initial
Purchasers of Registrable Notes covered by such Registration Statement or the underwriter(s), if any, shall reasonably object in writing within five Business Days after the receipt thereof (such objection to be deemed timely made upon confirmation
of facsimile transmission within such period). The objection of the Initial Purchasers or underwriter, if any, shall be deemed to be reasonable if such Registration Statement, amendment, Prospectus or supplement, as applicable, as proposed to be
filed, contains a material misstatement or omission; 

  

	 	(vi)	 make the Company’s representatives reasonably available to the Initial Purchasers for customary due
diligence matters; 

  

	 	(vii)	 make available at reasonable times for inspection by the Initial Purchasers, any Holder, the managing
underwriter(s), if any, participating in any disposition pursuant to such Registration Statement and any attorney or accountant retained by the Initial Purchasers, Holder or any of the underwriter(s), in each case subject to confidentiality
agreements in form and substance customarily entered into by the Initial Purchasers or underwriters, all financial and other records, pertinent corporate documents and properties of the Company and cause the Company’s officers, trustees and
employees to supply all information reasonably requested by any such Holder, underwriter, attorney or accountant in connection with such Registration Statement or any post-effective amendment thereto subsequent to the filing thereof and prior to its
effectiveness and to participate in meetings with investors to the extent reasonably requested by the managing underwriter(s), if any; 

  
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	 	(viii)	 if requested by any selling Holders listed as selling securityholders in any Registration Statement or the
underwriter(s), if any, promptly incorporate in any Registration Statement or Prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such selling Holders and underwriter(s), if any, may reasonably request
to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Registrable Notes, information with respect to the principal amount of Registrable Notes being sold to such underwriter(s),
the purchase price being paid therefor and any other terms of the offering of the Registrable Notes to be sold in such offering; and make all required filings of such Prospectus supplement or post-effective amendment as soon as practicable after the
Company is notified of the matters to be incorporated in such Prospectus supplement or post-effective amendment; 

  

	 	(ix)	 furnish to the Initial Purchasers, each selling Holder and each of the underwriter(s), if any, without charge,
at least one copy of the Registration Statement, as first filed with the Commission, and of each amendment thereto, including financial statements and schedules, if requested, all documents incorporated by reference therein and all exhibits
(including exhibits incorporated therein by reference), unless, in each case, publicly available; 

  

	 	(x)	 deliver to each selling Holder and each of the underwriter(s), if any, without charge, as many copies of the
Prospectus (including each preliminary prospectus) and any amendment or supplement thereto as such Persons reasonably may request; the Company hereby consent to the use of the Prospectus and any amendment or supplement thereto by each of the selling
Holders and each of the underwriter(s), if any, in connection with the offering and the sale of the Registrable Notes covered by the Prospectus or any amendment or supplement thereto; 

 

	 	(xi)	 in connection with an underwritten offering pursuant to a Shelf Registration Statement, enter into such
agreements (including an underwriting agreement), and make such representations and warranties, and take all such other commercially reasonable actions in connection therewith in order to expedite or facilitate the disposition of the Registrable
Notes. In furtherance of the foregoing, the Company shall: 

  

	 	(A)	 furnish to the Initial Purchasers, each selling Holder and each underwriter in such substance and scope as they
may reasonably request and as are customarily made by issuers to underwriters in primary underwritten offerings, upon the date of the effectiveness of the Shelf Registration Statement: 

 

	 	(1)	 a certificate, dated the effectiveness of the Shelf Registration Statement, signed by (y) the Chief
Executive Officer, the President or any Vice President and (z) a principal financial or accounting officer of the Company, confirming customary matters; 

  

	 	(2)	 if requested by a majority of selling Holders, an opinion, dated the date of effectiveness of the Shelf
Registration Statement, of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings; 

  
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	 	(3)	 a customary comfort letter, dated the date of effectiveness of the Shelf Registration Statement, from the
Company’s independent accountants, in the customary form and covering matters of the type customarily requested to be covered in comfort letters by underwriters in connection with primary underwritten offerings; 

 

	 	(B)	 set forth in full or incorporate by reference in the underwriting agreement, if any, the indemnification
provisions and procedures of Section 8 hereof with respect to all parties to be indemnified pursuant to said Section; and 

  

	 	(C)	 deliver such other documents and certificates as may be reasonably requested by such parties to evidence
compliance with Section 6(c)(xi)(A) hereof and with any customary conditions contained in the underwriting agreement or other agreement entered into by the Company pursuant to this Section 6(c)(xi), if any. 

If at any time the representations and warranties of the Company contemplated in Section 6(c)(xi)(A)(1) hereof cease to be
true and correct, the Company shall so advise the Initial Purchasers and the underwriter(s), if any, and each selling Holder promptly and, if requested by such Persons, shall confirm such advice in writing; 

 

	 	(xii)	 prior to any public offering of Registrable Notes, cooperate with the selling Holders, the underwriter(s), if
any, and their respective counsel in connection with the registration and qualification of the Registrable Notes under the state securities or blue sky laws of such jurisdictions as the selling Holders or underwriter(s), if any, may request and do
any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions of the Registrable Notes covered by the Shelf Registration Statement; provided, however, that the Company shall not be required to
register or qualify as a foreign corporation where it is not then so qualified or to take any action that would subject it to the service of process in suits or to taxation, other than as to matters and transactions relating to the Registration
Statement, in any jurisdiction where it is not then so subject; 

  

	 	(xiii)	 in the case of a Shelf Registration Statement, shall issue, upon the request of any Holder of Notes covered by
the Shelf Registration Statement and only in connection with any valid sale of Notes by such Holder pursuant to such registration statement (and provided that such Holder delivers such certificates or opinions reasonably requested by the Company in
connection with such sale), Exchange Notes having an aggregate principal amount equal to the aggregate principal amount of Notes surrendered to the Company by such Holder in exchange therefor or being sold by such Holder; such Exchange Notes to be
registered in the name of such Holder or in the name of the purchaser(s) of such Exchange Notes, as the case may be; in return, the Notes held by such Holder shall be surrendered to the Company for cancellation; 

  
 11 

	 	(xiv)	 in the case of a Shelf Registration Statement, and subject to the forms of the Indenture, cooperate with the
selling Holders and the underwriter(s), if any, to facilitate the timely preparation and delivery of certificates or book-entry receipts, as applicable, representing Registrable Notes to be sold and not bearing any restrictive legends; and enable
such Registrable Notes or such book-entry receipts, as applicable, to be in such denominations and registered in such names as the Holders or the underwriter(s), if any, may request at least two Business Days prior to any sale of Registrable Notes
made by such Holders or underwriter(s); 

  

	 	(xv)	 use its commercially reasonable efforts to cause the Registrable Notes covered by the Registration Statement to
be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter(s), if any, to consummate the disposition of such Registrable Notes, subject to the
proviso contained in Section 6(c)(xii) hereof; 

  

	 	(xvi)	 if any fact or event contemplated by Section 6(c)(iv)(D) hereof shall exist or have occurred, prepare a
supplement or post-effective amendment to the Registration Statement or related Prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter delivered to the purchasers of Registrable Notes,
the Prospectus will not contain an untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein not misleading; 

 

	 	(xvii)	 not later than the effective date of the Registration Statement covering such Exchange Notes, provide that the
CUSIP and ISIN numbers for all Exchange Notes shall be the same unrestricted CUSIP and ISIN numbers as borne by the Existing Notes and provide the Trustee under the Indenture with printed certificates for such Exchange Notes which are in a form
eligible for deposit with the Depository Trust Company and take all other action necessary to ensure that all such Exchange Notes are eligible for deposit with the Depository Trust Company; 

 

	 	(xviii)	 cooperate and assist in any filings required to be made with the FINRA and in the performance of any due
diligence investigation by any underwriter (including any “qualified independent underwriter”) that is required to be retained in accordance with the rules and regulations of the FINRA; 

 

	 	(xix)	 otherwise use its commercially reasonable efforts to comply with all applicable rules and regulations of the
Commission, and make generally available to its security holders, as soon as practicable, a consolidated earnings statement meeting the requirements of Rule 158 under the Securities Act (which need not be audited) for the twelve-month period
(A) commencing at the end of any fiscal quarter in which Registrable Notes are sold to underwriters in a firm commitment or commercially reasonable efforts Underwritten Offering or (B) if not sold to underwriters in such an offering,
beginning with the first month of the Company’s first fiscal quarter commencing after the effective date of the Registration Statement; and 

  
 12 

	 	(xx)	 cause the Indenture to continue to be qualified under the Trust Indenture Act as of, and not later than the
effective date of the first Registration Statement required by this Agreement, and, in connection therewith, cooperate with the Trustee and the Holders of Exchange Notes to effect such changes to the Indenture as may be required for such Indenture
to remain so qualified in accordance with the terms of the Trust Indenture Act; and to execute and use its commercially reasonable efforts to cause the Trustee to execute, all documents that may be required to effect such changes and all other forms
and documents required to be filed with the Commission to enable such Indenture to be so qualified in a timely manner. 

Each Holder agrees by acquisition of a Registrable Note that, upon receipt of any notice from the Company of the existence of any fact of the
kind described in Section 6(c)(iv)(D) hereof or any Suspension Period, such Holder will forthwith discontinue disposition of Registrable Notes pursuant to the applicable Registration Statement until such Holder’s receipt of the copies of
the supplemented or amended Prospectus contemplated by Section 6(c)(xvi) hereof, or until it is advised in writing (the “Advice”) by the Company that the use of the Prospectus may be resumed, and has received copies of
any additional or supplemental filings that are incorporated by reference in the Prospectus. If so directed by the Company, each Holder will deliver to the Company (at the Company’s expense) all copies, other than permanent file copies then in
such Holder’s possession, of the Prospectus covering such Registrable Notes that was current at the time of receipt of such notice. In the event the Company shall give any such notice, the time period regarding the effectiveness of such
Registration Statement set forth in Section 3 or 4 hereof, as applicable, shall be extended by the number of days during the period from and including the date of the giving of such notice pursuant to Section 6(c)(iv)(D) hereof or notice
of any Suspension Period to and including the date when each selling Holder covered by such Registration Statement shall have received the copies of the supplemented or amended Prospectus contemplated by Section 6(c)(xvi) hereof or shall have
received the Advice; provided, however, that no such extension shall be taken into account in determining whether Additional Interest is due pursuant to Section 5 hereof or the amount of such Additional Interest, it being agreed that the
Company’s option to suspend use of a Registration Statement pursuant to this paragraph shall be treated as a Registration Default for purposes of Section 5 hereof. 

SECTION 7. Registration Expenses. All expenses incident to the Company’s performance of or compliance with this Agreement
will be borne by the Company regardless of whether a Registration Statement becomes or is declared effective, including, without limitation: (i) all registration and filing fees and expenses (including filings made by the Initial Purchasers or
Holder with the FINRA (and, if applicable, the fees and expenses of any “qualified independent underwriter” and its counsel that may be required by the rules and regulations of the FINRA)); (ii) all fees and expenses of compliance with
federal securities and state securities or blue sky laws; (iii) all expenses of printing (including printing certificates for the Exchange Notes to be issued in the Exchange Offer and printing of Prospectuses), messenger and delivery services
and telephone; (iv) all fees and disbursements of counsel for the Company; (v) application and filing fees in connection with listing the Notes on a securities exchange or automated quotation system pursuant to the requirements thereof;
and (vi) all fees and disbursements of independent certified public accountants of the Company (including the expenses of any special audit and comfort letters required by or incident to such performance). 

The Company will, in any event, bear its internal expenses (including, without limitation, all salaries and expenses of its officers and
employees performing legal or accounting duties), the expenses of any annual audit and the fees and expenses of any Person, including special experts, retained by the Company. 

  
 13 

 SECTION 8. Indemnification. 

 

	 	(a)	 The Company agree to indemnify and hold harmless (i) each Holder and (ii) each Person, if any, who
controls (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) any Holder (any of the Persons referred to in this clause (ii) being hereinafter referred to as a “Controlling
Person”) and (iii) the respective officers, trustees, partners, employees, representatives and agents of any Holder or any Controlling Person (any Person referred to in clause (i), (ii) or (iii) may hereinafter be referred to
as an “Indemnified Holder”), to the fullest extent lawful, from and against any and all losses, claims, damages, liabilities, judgments, actions and expenses (including, without limitation, and as incurred, reimbursement of
all reasonable costs of investigating, preparing, pursuing, settling, compromising, paying or defending any claim or action, or any investigation or proceeding by any governmental agency or body, commenced or threatened, including the reasonable and
documented fees and expenses of counsel to any Indemnified Holder), joint or several, directly or indirectly caused by, related to, based upon, arising out of or in connection with any untrue statement or alleged untrue statement of a material fact
contained in any Registration Statement or Prospectus (or any amendment or supplement thereto), or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the
case of any Prospectus, in the light of the circumstances under which they were made), not misleading, except insofar as such losses, claims, damages, liabilities or expenses are caused by an untrue statement or omission or alleged untrue statement
or omission that is made in reliance upon and in conformity with information relating to any of the Holders furnished in writing to the Company by or on behalf of any of the Holders expressly for use therein. This indemnity agreement shall be in
addition to any liability which the Company may otherwise have. 

 In case any action or proceeding (including any
governmental or regulatory investigation or proceeding) shall be brought or asserted against any of the Indemnified Holders with respect to which indemnity may be sought against the Company, such Indemnified Holder (or the Indemnified Holder
controlled by such Controlling Person) shall promptly notify the Company in writing; provided, however, that the failure to give such notice shall not relieve any of the Company of its obligations pursuant to this Agreement unless and to the
extent the Company did not otherwise learn of such action and such failure results in the forfeiture by the Company of substantial rights and defenses. Such Indemnified Holder shall have the right to employ its own counsel in any such action and the
reasonable and documented fees and expenses of such counsel shall be paid, as incurred, by the Company (regardless of whether it is ultimately determined that an Indemnified Holder is not entitled to indemnification hereunder). The Company shall
not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the reasonable and
documented fees and expenses of more than one separate firm of attorneys (in addition to one local counsel for all indemnified parties taken as a whole in each jurisdiction reasonably required and, in the event of an actual conflict, one additional
counsel in each relevant jurisdiction for the affected indemnified parties similarly situated taken as a whole) at any time for such Indemnified Holders, which firm shall be designated by the Holders. The Company shall be liable for any settlement
of any such action or proceeding effected with the Company’s prior written consent, which consent shall not be unreasonably withheld or delayed, and the Company agree to indemnify and hold harmless any Indemnified Holder from and against any
loss, claim, damage, liability or expense by reason of any settlement of any action effected with the written consent of the Company. The Company shall not, without the prior written consent of each Indemnified Holder, settle or compromise or
consent to the entry of judgment in or otherwise seek to terminate any pending or threatened action, claim, litigation or proceeding in respect of which indemnification or contribution may 

  
 14 

 
be sought hereunder (whether or not any Indemnified Holder is a party thereto), unless such settlement, compromise, consent or termination (i) includes a complete and unconditional release
of each Indemnified Holder from all liability arising out of such action, claim, litigation or proceeding and (ii) does not include a statement as to or an admission of fault, culpability or a failure to act, by or on behalf of any Indemnified
Holder. 
  

	 	(b)	 Each Holder of Registrable Notes agrees, severally and not jointly, to indemnify and hold harmless the Company
and its trustees and officers who sign a Registration Statement, and any Person controlling (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) the Company and its officers, trustees, partners,
employees, representatives and agents, to the same extent as the foregoing indemnity from the Company to each of the Indemnified Holders, but only with respect to claims and actions based on information relating to such Holder furnished in writing
by or on behalf of such Holder expressly for use in any Registration Statement. In case any action or proceeding shall be brought against the Company or its trustees or officers or any such Controlling Person in respect of which indemnity may be
sought against a Holder of Registrable Notes, such Holder shall have the rights and duties given to the Company, and the Company and its trustees and officers and such Controlling Person shall have the rights and duties given to each Holder by the
preceding paragraph. This indemnity agreement shall be in addition to any liability which Holders may otherwise have. 

  

	 	(c)	 If the indemnification provided for in this Section 8 is unavailable to an indemnified party under
Section 8(a) or (b) hereof (other than by reason of exceptions provided in those Sections) in respect of any losses, claims, damages, liabilities, judgments, actions or expenses referred to therein, then each applicable indemnifying party,
in lieu of indemnifying such indemnified party, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages, liabilities, judgments, actions or expenses in such proportion as is appropriate to
reflect the relative benefits received by the Company, on the one hand, and the Holders, on the other hand, from the Initial Placement (which in the case of the Company shall be deemed to be equal to the total gross proceeds to the Company from the
Initial Placement), the amount of Additional Interest which did not become payable as a result of the filing of the Registration Statement resulting in such losses, claims, damages, liabilities, judgments, actions or expenses, and such Registration
Statement, or if such allocation is not permitted by applicable law, the relative fault of the Company, on the one hand, and the Holders, on the other hand, in connection with the statements or omissions which resulted in such losses, claims,
damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative fault of the Company, on the one hand, and of the Indemnified Holder, on the other hand, shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company, on the one hand, or the Indemnified Holders, on the other hand, and the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The amount paid or payable by a party as a result of the losses, claims, damages, liabilities and expenses referred to
above shall be deemed to include, subject to the limitations set forth in the second paragraph of Section 8(a) hereof, any legal or other fees or expenses reasonably incurred by such party in connection with investigating or defending any
action or claim. 

  
 15 

 The Company and each Holder of Registrable Notes agrees that it would not be just and
equitable if contribution pursuant to this Section 8(c) were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable
considerations referred to in the immediately preceding paragraph. The amount paid or payable by an indemnified party as a result of the losses, claims, damages, liabilities or expenses referred to in the immediately preceding paragraph shall be
deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this
Section 8, none of the Holders (and its related Indemnified Holders) shall be required to contribute, in the aggregate, any amount in excess of the amount by which the total discount received by such Holder with respect to the Notes exceeds the
amount of any damages which such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 8(c) are several in
proportion to the respective principal amount of Notes held by each of the Holders hereunder and not joint. 
 SECTION 9. Rule 144A. The Company
hereby agrees with each Holder, for so long as any Registrable Notes remain outstanding, to make available to any Holder or beneficial owner of Registrable Notes in connection with any sale thereof and any prospective purchaser of such Registrable
Notes from such Holder or beneficial owner, the information required by Rule 144A(d)(4) under the Securities Act in order to permit resales of such Registrable Notes pursuant to Rule 144A under the Securities Act, unless the Company is then subject
to Section 13 or 15(d) of the Exchange Act. 
 SECTION 10. Participation in Underwritten Registrations. No Holder may participate in any
Underwritten Registration hereunder unless such Holder (a) agrees to sell such Holder’s Registrable Notes on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and
(b) completes and executes all reasonable questionnaires, powers of attorney, indemnities, underwriting agreements, lock-up letters and other documents required under the terms of such underwriting
arrangements. 
 SECTION 11. Selection of Underwriters. If requested by the Holders of a majority in aggregate principal amount of the
Registrable Notes covered by the Shelf Registration Statement, the Holders of Registrable Notes covered by the Shelf Registration Statement who desire to do so may sell such Registrable Notes in an Underwritten Offering. In such Underwritten
Offering, the investment banker(s) and managing underwriter(s) that will administer such offering will be selected by the Holders of a majority in aggregate principal amount of the Registrable Notes included in such offering; provided,
however, that such investment banker(s) and managing underwriter(s) must be reasonably satisfactory to the Company. 
 SECTION 12.
Miscellaneous. 
  

	 	(a)	 Remedies. The Company hereby agrees that monetary damages would not be adequate compensation for any
loss incurred by reason of a breach by it of the provisions of this Agreement and hereby agrees to waive the defense in any action for specific performance that a remedy at law would be adequate. 

 

	 	(b)	 No Inconsistent Agreements. The Company will not on or after the date of this Agreement enter into any
agreement with respect to its securities that is inconsistent with the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions hereof. The rights granted to the Holders hereunder do not in any way conflict with and
are not inconsistent with the rights granted to the holders of the Company’s securities under any agreement in effect on the date hereof. 

  
 16 

	 	(c)	 Adjustments Affecting the Notes. The Company will not take any action, or permit any change to occur,
with respect to the Registrable Notes that would materially and adversely affect the ability of the Holders to Consummate any Exchange Offer. 

  

	 	(d)	 Amendments and Waivers. The provisions of this Agreement may not be amended, modified or supplemented,
and waivers or consents to or departures from the provisions hereof may not be given unless the Company have (i) in the case of Section 5 hereof and this Section 13(d)(i), obtained the written consent of Holders of all outstanding
Registrable Notes and (ii) in the case of all other provisions hereof, obtained the written consent of Holders of a majority of the outstanding principal amount of Registrable Notes (excluding any Registrable Notes held by the Company or its
Affiliates). Notwithstanding the foregoing, a waiver or consent to departure from the provisions hereof that relates exclusively to the rights of Holders whose securities are being tendered pursuant to the Exchange Offer and that does not affect
directly or indirectly the rights of other Holders whose securities are not being tendered pursuant to such Exchange Offer may be given by the Holders of a majority of the outstanding principal amount of Registrable Notes being tendered or
registered; provided, however, that, with respect to any matter that directly or indirectly affects the rights of the Initial Purchasers hereunder, the Company shall obtain the written consent of the Initial Purchasers with respect to which
such amendment, qualification, supplement, waiver, consent or departure is to be effective. 

  

	 	(e)	 Notices. All notices and other communications provided for or permitted hereunder shall be made in
writing by hand-delivery, first-class mail (registered or certified, return receipt requested), facsimile, or air courier guaranteeing overnight delivery: 

  

	 	(i)	 if to a Holder, at the address set forth on the records of the Registrar under the Indenture, with a copy to
the Registrar under the Indenture; 

  

	 	(ii)	 if to the Company: 

Blackstone Private Credit Fund 

345 Park Avenue, 31st Floor 

New York, NY 10154 
 Facsimile:
(212) 503-2100 
 Attention: General Counsel 

With a copy to: 
 Dechert LLP

 One International Place, 40th Floor 

Boston, MA 02110 
 Facsimile:
(617) 728-7120 
 Attention: Thomas J. Friedmann 

All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five
Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if sent by facsimile; and on the next Business Day, if timely delivered to an air courier guaranteeing overnight delivery. 

  
 17 

 Copies of all such notices, demands or other communications shall be concurrently delivered
by the Person giving the same to the Trustee at the address specified in the Indenture. 
  

	 	(f)	 Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors
and assigns of each of the parties, including, without limitation, and without the need for an express assignment, subsequent Holders of Registrable Notes; provided, however, that this Agreement shall not inure to the benefit of or be binding
upon a successor or assign of a Holder unless and to the extent such successor or assign acquired Registrable Notes from such Holder. 

  

	 	(g)	 Counterparts. This Agreement may be executed in any number of counterparts (including by facsimile or
other method of electronic transmission) and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.

  

	 	(h)	 Headings. The headings in this Agreement are for convenience of reference only and shall not limit or
otherwise affect the meaning hereof. 

  

	 	(i)	 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK, WITHOUT REGARD TO THE CONFLICTS OF LAW RULES THEREOF. 

  

	 	(j)	 Severability. In the event that any one or more of the provisions contained herein, or the application
thereof in any circumstance, is held invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein shall not be affected or impaired
thereby. 

  

	 	(k)	 Entire Agreement. This Agreement is intended by the parties as a final expression of their agreement and
intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises, warranties or undertakings, other than those set forth
or referred to herein with respect to the registration rights granted by the Company with respect to the Registrable Notes. This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter.

  

	 	(l)	 Third Party Beneficiaries. Each Holder shall be a third party beneficiary to the agreements made
hereunder between the Company, on the one hand, and the Initial Purchasers, on the other hand, and shall have the right to enforce such agreements directly to the extent it deems such enforcement necessary or advisable to protect its rights or the
rights of other Holders hereunder. 

 [Signature Pages Follow] 

  
 18 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	BLACKSTONE PRIVATE CREDIT FUND
		
	By:	 	 /s/ Stephan Kuppenheimer

		 	Name: Stephan Kuppenheimer
		 	Title: Chief Financial Officer

 The foregoing Registration Rights Agreement is hereby confirmed and accepted as of the date
first above written: 
  

			
	CITIGROUP GLOBAL MARKETS INC.
		
	By:	 	 /s/ Adam D. Bordner

		 	Name: Adam D. Bordner
		 	Title: Director
	
	GOLDMAN SACHS & CO. LLC
		
	By:	 	 /s/ Ali Malik

		 	Name: Ali Malik
		 	Title: Managing Director
	
	SMBC NIKKO SECURITIES AMERICA, INC.
		
	By:	 	 /s/ Omar F. Zaman

		 	Name: Omar F. Zaman
		 	Title: Managing Director
	
	TRUIST SECURITIES, INC. 
		
	By:	 	 /s/ Rob Nordlinger

		 	Name: Rob Nordlinger
		 	Title: Director
	
	WELLS FARGO SECURITIES, LLC
		
	By:	 	 /s/ Carolyn Hurley

		 	Name: Carolyn Hurley
		 	Title: Managing DirectorExhibit 10.1

 

JOINT VENTURE AGREEMENT

 

among

 

Titanium Plus Autoparts,
Inc.

 

Tony Chiu

 

Bin Xiao

 

 and

 

iPower
Inc.

 

dated as of

 

January
13, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	1	 

     

    

 

 

JOINT VENTURE AGREEMENT

 

This Joint Venture Agreement (“Agreement”),
dated as of January 13, 2022, is entered into by and among Titanium Plus Autoparts, Inc., a [California] corporation (
“TPA”), Tony Chiu (the “TPA Stockholder”), Bin Xiao (“Bin”), and
iPower Inc., a Nevada corporation (“IPW”). TPA, the TPA Stockholder, Bin and IPW are hereinafter sometimes
individually referred to as a “Party” and collectively, as the “Parties.”

 

Recitals

 

WHEREAS,
TPA is engaged in TPA Business (herein defined) and IPW is engaged in the IPW Business (herein defined);

 

WHEREAS,
the Parties have formed a limited liability company in the State of Nevada known as Box Harmony, LLC (the “Company”)v
for the purpose of providing logistic services for primarily foreign based manufacturers or distributors who desire to sell their products
on-line in the United States; such logistic services to include, without limitation, receiving, storing and transporting such products
in the United States (the “Company Business”);

 

WHEREAS,
The Parties have entered into a limited liability company operating agreement for the Company in the form of Exhibit A annexed
hereto (the “Company Operating Agreement”),

 

WHEREAS,
pursuant to the Company Operating Agreement, an aggregate of 10,000 certificated units of membership interest (the “Equity Units”)
are authorized, of which (a) TPA shall be issued 1,200 Equity Units (b) Bin shall be issued 2400 Equity Units, and (c) 2,400 Equity Units
shall be issued to IPW for a total of 6,000 Equity Units issued on the Closing Date;

 

WHEREAS
on the Closing Date, the Company, TPA and Bin shall grant IPW the IPW Option, as that term is defined in the Company Operating
Agreement;

 

WHEREAS,
on the Closing Date, TPA and IPW shall enter into the Facility and Use Access Agreement hereinafter defined; and

 

WHEREAS,
on the Closing Date, the Company shall enter into the Consulting Agreement, hereinafter defined with Bin and Tony Chiu;

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.1. Defined
Terms Used in this Agreement. In addition to the terms defined above or elsewhere in this Agreement, the following terms used in this
Agreement shall be construed to have the meanings set forth or referenced below.

 

“Affiliate”
of a Person means any other Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is
under common control with, such Person. The term “control” (including the terms “controlled by” and “under
common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management
and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

 

 

 

 

    	 	2	 

     

    

 

 

“Business
Day” means any day except Saturday, Sunday or any other day on which commercial banks located in Cleveland, Ohio are authorized
or required by Law to be closed for business.

 

“Code” means the Internal Revenue Code
of 1986, as amended.

 

“Company
Business” means the design and development of Liquid hydrogen (LH2) powered drones/UAVs; the design and development of LH2 no-loss
production, storage and fueling systems for aircraft; and the design and development of space-based fueling, power, and life support infrastructure.

 

“Company
Intellectual Property” means all Intellectual Property (including Registered Intellectual Property (as defined in Section 2.8(b),
but exclusive of “off the shelf” commercially available standard end-user, object code, internal use software) owned, held
or used by TPA in connection with the operation of the business of TPA as now conducted and presently proposed to be conducted.

 

“Company Operating
Agreement” shall have the meaning as that term is defined in the Recitals.

 

“Contracts”
means all contracts, leases, deeds, mortgages, licenses, instruments, notes, loans, indentures, and all other agreements and legally binding
commitments or arrangements, whether written or oral, relating to the Company Business.

 

“Consulting
Agreement” shall mean the eighteen (18) month consulting agreement between the Company and TPA and Bin, as the consultants,
in the form of Exhibit C annexed hereto and made a part hereof.

 

“Dollars” or “$” means
the lawful currency of the United States.

 

“Encumbrance”
means any charge, claim, community property interest, pledge, condition, equitable interest, lien (statutory or other), option, security
interest, mortgage, easement, encroachment, right of way, right of first refusal, or restriction of any kind, including any restriction
on use, voting, transfer, receipt of income or exercise of any other attribute of ownership.

 

“Environmental Claim”
means any Action, Governmental Order, lien, fine, penalty, or, as to each, any settlement or judgment arising therefrom, by or from any
Person alleging liability of whatever kind or nature (including liability or responsibility for the costs of enforcement proceedings,
investigations, cleanup, governmental response, removal or remediation, natural resources damages, property damages, personal injuries,
medical monitoring, penalties, contribution, indemnification and injunctive relief) arising out of, based on or resulting from: (a) the
presence, Release of, or exposure to, any Hazardous Materials; or (b) any actual or alleged non-compliance with any Environmental Law
or term or condition of any Environmental Permit.

 

 

 

 

    	 	3	 

     

    

 

 

“Environmental
Law” means any applicable Law, and any Governmental Order or binding agreement with any Governmental Authority: (a) relating
to pollution (or the cleanup thereof) or the protection of natural resources, endangered or threatened species, human health or safety,
or the environment (including ambient air, soil, surface water or groundwater, or subsurface strata); or (b) concerning the presence of,
exposure to, or the management, manufacture, use, containment, storage, recycling, reclamation, reuse, treatment, generation, discharge,
transportation, processing, production, disposal or remediation of any Hazardous Materials. The term “Environmental Law” includes,
without limitation, the following (including their implementing regulations and any state analogs): the Comprehensive Environmental Response,
Compensation, and Liability Act of 1980, as amended by the Superfund Amendments and Reauthorization Act of 1986, 42 U.S.C. §§9601
et seq.; the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act of 1976, as amended by the Hazardous and
Solid Waste Amendments of 1984, 42 U.S.C. §§6901 et seq.; the Federal Water Pollution Control Act of 1972, as amended by the
Clean Water Act of 1977, 33 U.S.C. §§1251 et seq.; the Toxic Substances Control Act of 1976, as amended, 15 U.S.C. §§2601
et seq.; the Emergency Planning and Community Right-to-Know Act of 1986, 42 U.S.C. §§11001 et seq.; the Clean Air Act of 1966,
as amended by the Clean Air Act Amendments of 1990, 42 U.S.C. §§ 7401 et seq.; and the Occupational Safety and Health Act of
1970, as amended, 29 U.S.C. §§651 et seq.

 

“Facility
and Use Access Agreement” shall mean the 18 month agreement, dated the Closing Date, pursuant to which IPW shall grant the Company
the right to have access to and use not less than 50,000 square feet and up to 80,000 square feet of available floor space at the IPW
Warehouses to provide logistic services for customers of the Company, a true copy of which is annexed hereto as Exhibit B and made
a part hereof.

 

“Governmental
Authority” means any federal, state, local or foreign government or political subdivision thereof, or any agency or instrumentality
of such government or political subdivision, or any self-regulated organization or other non-governmental regulatory authority or quasi-governmental
authority (to the extent that the rules, regulations or orders of such organization or authority have the force of Law), or any arbitrator,
court or tribunal of competent jurisdiction.

 

“Governmental
Order” means any order, writ, judgment, injunction, decree, stipulation, determination or award entered by or with any Governmental
Authority.

 

“Hazardous
Materials” means: (a) any material, substance, chemical, waste, product, derivative, compound, mixture, solid, liquid, mineral
or gas, in each case, whether naturally occurring or man-made, that is hazardous, acutely hazardous, toxic, or words of similar import
or regulatory effect under Environmental Laws; and (b) any petroleum or petroleum-derived products, radon, radioactive materials or wastes,
asbestos in any form, lead or lead-containing materials, urea formaldehyde foam insulation, and polychlorinated biphenyls.

 

“IPW
Business” means the business of being an online hydroponic equipment supplier which sells products through Amazon.com,
Walmart.com and its e-commerce platform, www.Zenhydro.com, and is one of the leading marketers, distributors and retailers of
grow-light systems, ventilation systems, activated carbon filters, nutrients, growing media, hydroponic water- resistant grow tents,
trimming machines, pumps and accessories for hydroponic gardening.

 

 

 

 

    	 	4	 

     

    

 

 

“IPW Warehouses”
means the leased IPW warehouses that have the square feet of floor space and are located at the addresses listed on Schedule A
annexed hereto.

 

“Permits”
means all permits, licenses, franchises, approvals, authorizations, registrations, certificates, variances and similar rights obtained,
or required to be obtained, from Governmental Authorities.

 

“Person”
means an individual, corporation, partnership, joint venture, limited liability company, Governmental Authority, unincorporated organization,
trust, association or other entity.

 

“Release”
means any actual or threatened release, spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching,
dumping, abandonment, disposing or allowing to escape or migrate into or through the environment (including, without limitation, ambient
air (indoor or outdoor), surface water, groundwater, land surface or subsurface strata or within any building, structure, facility or
fixture).

 

“Representative”
means, with respect to IPW, Chenlong (Lawrence) Tan, and with respect to TPA, Bin.

 

“TPA
Business” means the current business activities which engages in e-commerce logistical services for primarily foreign based
clients, including transportation resources, carrier accounts, receiving and store imported goods products from its clients and customers.

 

“TPA
IP License” means the Intellectual Property License from TPA to the Company in the form of Exhibit D annexed hereto.

 

“TPA Stockholder” shall have the meaning
as that term is defined in the Preamble.

 

“Transaction Agreements”
means this Agreement, the Company Operating Agreement, the Facilities and Use Access Agreement, the Consulting Agreement and the TPA
IP License.

 

2.            
Representations and Warranties of TPA and the Company Stockholder. TPA and the Company Stockholder hereby jointly and severally
represents and warrants to IPW and the Company as set forth below. For purposes of these representations and warranties (other than those
in Sections 2.1, 2.3, 2.4, 2.5, and 2.6), the term “TPA” shall include any subsidiaries
of TPA, unless otherwise noted herein.

 

2.1.           
Organization, Good Standing, Corporate Power and Qualification. TPA is a corporation duly organized, validly existing and
in good standing under the laws of the State of [California] and has all requisite corporate power and authority to own and operate its
properties and assets, to execute and deliver this Agreement and each of the Transaction Agreements, and to carry out the provisions
of this Agreement, the Transaction Agreements and to manage the Company Business and the TPA Business, as presently conducted and as
presently proposed to be conducted. TPA is duly qualified to transact business and is in good standing in each jurisdiction in which
the failure to so qualify would have a Material Adverse Effect.

 

 

 

 

 

    	 	5	 

     

    

 

 

2.2.           
Capitalization. The authorized capital of TPA, immediately prior to the Closing Date and the owners of 100% of the capital
stock of TPA are listed on Schedule 2.2 annexed hereto.

 

2.3.           
Subsidiaries. TPA does not currently own or control, directly or indirectly, any interest in any other corporation, partnership,
trust, joint venture, limited liability company, association, or other business entity. TPA is not a participant in any joint venture,
partnership or similar arrangement. Since its inception, TPA has not consolidated or merged with, acquired all or substantially all of
the assets of, or acquired the stock of or any interest in any corporation, partnership, limited liability company or other business entity.

 

2.4.           
Authorization. All corporate action required to be taken by TPA’s Board of Directors and stockholders in order to
authorize TPA to enter into the Transaction Agreements has been taken or will be taken prior to the Closing. All action on the part of
the officers of TPA necessary for the execution and delivery of the Transaction Agreements, the performance of all obligations of TPA
under the Transaction Agreements to be performed as of the Closing, and the issuance and delivery of the Equity Interests has been taken
or will be taken prior to the Closing. The Transaction Agreements, when executed and delivered by TPA, shall constitute valid and legally
binding obligations of TPA, enforceable against TPA in accordance with their respective terms except (i) as limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance, or other laws of general application relating to or affecting the enforcement
of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief,
or other equitable remedies.

 

2.5.           
Valid Issuance of Equity Interests. The Equity Interests, when issued, sold and delivered in accordance with the terms and
for the consideration set forth in this Agreement, will be validly issued, fully paid and nonassessable and free of restrictions on transfer
other than restrictions on transfer under the Transaction Agreements, applicable state and federal securities laws and liens or encumbrances
created by or imposed by the Company Operating Agreement. Assuming the accuracy of the representations of IPW in Section 3 of this
Agreement and subject to the filings described in Section 2.6(ii) below, the Equity Interests will be issued in compliance with
all applicable federal and state securities laws.

 

2.6.           
Governmental Consents and Filings. Assuming the accuracy of the representations made by IPW in Section 3 of this
Agreement, no consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing with, any
federal, state or local Governmental Authority is required on the part of TPA in connection with the consummation of the transactions
contemplated by this Agreement, except for filings pursuant to Regulation D of the Securities Act, and applicable state securities laws,
which have been made or will be made in a timely manner.

 

 

 

    	 	6	 

     

    

 

 

2.7.           
Litigation. There is no claim, action, suit, proceeding, arbitration, complaint, charge or investigation (of which TPA
has been notified) pending or to TPA’s knowledge, currently threatened (i) against TPA or any officer, director or Key Employee
of TPA arising out of their employment or board relationship with TPA; or (ii) that questions the validity of the Transaction Agreements
or the right of TPA to enter into them, or to consummate the transactions contemplated by the Transaction Agreements. Neither TPA nor,
to TPA’s knowledge, any of its officers, directors or Key Employees is a Party or is named as subject to the provisions of any
order, writ, injunction, judgment or decree of any court or government agency or instrumentality (in the case of officers, directors
or Key Employees, such as would affect the Company). There is no action, suit, proceeding or investigation by TPA pending or which TPA
intends to initiate. The foregoing includes, without limitation, actions, suits, proceedings or investigations pending or threatened
in writing (or any basis therefor known to TPA) involving the prior employment of any of TPA’s employees, their services provided
in connection with the TPA Business, or any information or techniques allegedly proprietary to any of their former employers, or their
obligations under any agreements with prior employers.

 

 2.8.           TPA Intellectual Property.

 

(a)               
TPA is the sole and exclusive owner of all of TPA Intellectual Property, free and clear of any Encumbrances. TPA Intellectual Property
includes all of the Intellectual Property material to the business or operations of TPA as now conducted and as presently proposed to
be conducted.

 

(b)              
Section 2.8(b)(i) of the Disclosure Schedule sets forth a true, complete and correct list of all TPA Intellectual Property.
The foregoing list includes, without limitation, a list of all domain names owned or controlled by TPA, all patents and patent applications
owned or controlled by TPA, and all other Intellectual Property owned or controlled by TPA that has been registered, or for which an application
for registration has been filed with, the United States Patent and Trademark Office, the United States Copyright Office or any foreign
governmental agency or authority (collectively, the “Registered Intellectual Property”). Section 2.8(b)(ii)
of the Disclosure Schedule sets forth a true, complete and correct list of (1) all options, licenses, sublicenses, and other agreements
or arrangements to which TPA is a Party, or by which TPA is bound, and pursuant to which any other Person is authorized to have access
to, or use of, Intellectual Property owned by TPA, or to exercise any other right with regard thereto; and (2) all options, licenses,
sublicenses, and other agreements or arrangements pursuant to which TPA has been granted a license (other than licenses of “off
the shelf” commercially available standard end-user, object code, internal use software) to or the right to use any Intellectual
Property of a third Party (together with the options, licenses, sublicenses, agreements and other arrangements set forth in clause (a),
“TPA Intellectual Property Licenses”). Each item of Registered Intellectual Property is enforceable, subsisting, unexpired
and has not been abandoned or canceled, and to TPA’s knowledge, is valid and enforceable. Each of the Intellectual Property Licenses
is a legal, valid, binding and enforceable obligation of TPA and, to TPA’s knowledge, each other Party thereto. Neither TPA, nor
to TPA’s knowledge any other Party to any TPA Intellectual Property License, is in breach or default under such TPA Intellectual
Property License, and no event has occurred that with notice or lapse of time would constitute a breach or default by TPA (or to TPA’s
knowledge any other Party thereto) or permit termination, thereunder. No notice of default with respect to any such TPA Intellectual Property
License has been sent or received by TPA.

 

(c)               
TPA possesses valid licenses to use all of the software programs present on the computers and other software enabled electronic
devices that it owns or leases or that it has otherwise provided to its employees for uses that are material to the business or operations
of TPA as now conducted and as presently proposed to be conducted.

 

(d)              
To TPA’s knowledge, neither the conduct of the TPA the Business as now conducted, nor TPA’s use of TPA Intellectual
Property owned by TPA or licensed to TPA, infringes upon, violates or misappropriates the Intellectual Property of any third Party, and,
to TPA’s knowledge, there are no pending or threatened, proceedings or litigation or other adverse claims or communications by any
Person alleging any such infringement, violation or misappropriation based on Company’s use of TPA Intellectual Property. To TPA’s
knowledge, no Person is infringing upon or otherwise violating any of TPA’s rights in TPA Intellectual Property. Neither the execution
nor delivery of this Agreement and the other Transaction Agreements, nor the performance and consummation of TPA’s obligations hereunder
and thereunder, will cause the diminution, termination or forfeiture of TPA’s rights in, or require the consent of any third Party
in respect of, any Company Intellectual Property.

 

 

 

    	 	7	 

     

    

 

 

(e)               
TPA has secured from all employees, consultants and contractors of TPA who have contributed to the creation or development of any
TPA Intellectual Property owned by TPA valid and binding written assignments of all rights, including all Intellectual Property rights,
to such contributions. Except for any TPA Intellectual Property License, TPA has not granted to any Person an exclusive license or equivalent
right with respect to any of TPA Intellectual Property owned by TPA, or assigned or conveyed to any Person any ownership interest (including
joint ownership rights) therein, and no third Party owns or holds any such right, license or interest.

 

2.9.           
Compliance with Other Instruments. TPA is not in violation or default (i) of any provisions of its Certificate of Incorporation
or Bylaws, (ii) of any instrument, judgment, order, writ or decree, (iii) under any note, indenture or mortgage, or (iv) under any lease,
agreement, contract or purchase order to which it is a Party or by which it is bound that is required to be listed on the Disclosure Schedule,
or, to TPA’s knowledge, of any provision of federal or state statute, rule or regulation applicable to TPA. The execution, delivery
and performance of the Transaction Agreements and the consummation of the transactions contemplated by the Transaction Agreements will
not result in any such violation or be in conflict with or constitute, with or without the passage of time and giving of notice, either
(i) a default under any such provision, instrument, judgment, order, writ, decree, contract or agreement or (ii) an event which results
in the creation of any lien, charge or encumbrance upon any assets of TPA or the suspension, revocation, forfeiture, or nonrenewal of
any material permit or license applicable to TPA.

 

2.10         
Absence of Liens. The property and assets that TPA owns are free and clear of all mortgages, deeds of trust, liens, loans,
security interests and encumbrances, except for statutory liens for the payment of current taxes that are not yet delinquent and encumbrances
and liens that arise in the ordinary course of business and do not materially impair TPA’s ownership or use of such property or
assets. With respect to the property and assets it leases, TPA is in compliance with such leases and, to TPA’s knowledge, holds
a valid leasehold interest free of any liens, claims or encumbrances other than those of the lessors of such property or assets. TPA
does not own any real property. Except as set forth on Section 2.10 of the Disclosure Schedule, TPA has no material liabilities
or obligations, whether absolute, accrued, contingent or otherwise and whether due or to become due, asserted or unasserted, other than
(i) liabilities incurred in the ordinary course of business, (ii) obligations under contracts and commitments incurred in the ordinary
course of business, (iii) liabilities and obligations of a type or nature not required under generally accepted accounting principles
to be reflected in financial statements and which, in all such cases, individually and in the aggregate, would not have a Material Adverse
Effect.

 

2.11         
Financial Statements. TPA has delivered to IPW its unaudited financial statements as of December 31, 2020 and for the fiscal
year then ended (including balance sheet, income statement and statement of cash flows) (the “Financial Statements”).
The Financial Statements, together with the notes thereto, have been prepared in accordance with generally accepted accounting principles
(“GAAP”) applied on a consistent basis throughout the periods indicated, except as disclosed therein; provided, however,
that the unaudited Financial Statements are subject to normal recurring year-end audit adjustments (which are not expected to be material
either individually or in the aggregate), and may not contain all footnotes required by GAAP. The Financial Statements fairly present
in all material respects the financial condition and operating results of TPA as of the dates, and for the periods, indicated therein,
subject in the case of the unaudited Financial Statements to normal year-end audit adjustments. Except as set forth in the Financial Statements,
TPA has no material liabilities or obligations, contingent or otherwise, other than (i) liabilities incurred in the ordinary course of
business subsequent to December 31, 2020.

 

2,12 Non-Disclosure,
Proprietary Information and Invention Assignment and Non-Competition Agreements. TPA has taken all reasonable security measures to
maintain and protect the secrecy, confidentiality and value of all proprietary information and trade secrets used in TPA’s business.
Each current and former employee and officer of TPA, and each current and former consultant and contractor to TPA, has executed (or will
execute at the Initial Closing) an agreement regarding confidentiality and the assignment of inventions to TPA. To TPA’s knowledge,
no current or former employee, officer, consultant or contractor is in violation of his or her confidentiality and invention assignment
agreement. No current or former employee, officer, consultant, or contractor of TPA has excluded works or inventions related to TPA’s
business from his or her assignment of inventions pursuant to such person’s confidentiality and invention assignment agreement.

 

 

 

 

    	 	8	 

     

    

 

 

2.13         
Permits. TPA has all franchises, permits, licenses and any similar authority necessary for the conduct of its business (as
now conducted), the lack of which could reasonably be expected to have a Material Adverse Effect. TPA is not in default in any material
respect under any of such franchises, permits, licenses or other similar authority.

 

2.14         
Environmental and Safety Laws. To TPA’s knowledge (a) TPA is and has been in compliance with all Environmental Laws;
(b) there has been no release or, to TPA’s knowledge, threatened release of any Hazardous Substance on, upon, into or from any
site currently or heretofore owned, leased or otherwise used by TPA; (c) there have been no Hazardous Substances generated by TPA that
have been disposed of or come to rest at any site that has been included in any published U.S. federal, state or local “superfund”
site list or any other similar list of hazardous or toxic waste sites published by any governmental authority in the United States; and
(d) there are no underground storage tanks located on, no polychlorinated biphenyls (“PCBs”) or PCB-containing equipment
used or stored on, and no hazardous waste as defined by the Resource Conservation and Recovery Act, as amended, stored on, any site owned
or operated by TPA, except for the storage of hazardous waste in compliance with Environmental Laws. TPA has made available to IPWs true
and complete copies of all material environmental records, reports, notifications, certificates of need, permits, pending permit applications,
correspondence, engineering studies, and environmental studies or assessments.

 

2.15         
Foreign Corrupt Practices Act. Neither TPA nor any of TPA’s directors, officers, employees or agents have, directly
or indirectly, made, offered, promised or authorized any payment or gift of any money or anything of value to or for the benefit of any
“foreign official” (as such term is defined in the U.S. Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”)),
foreign political Party or official thereof or candidate for foreign political office for the purpose of (i) influencing any official
act or decision of such official, Party or candidate, (ii) inducing such official, Party or candidate to use his, her or its influence
to affect any act or decision of a foreign governmental authority, or (iii) securing any improper advantage, in the case of (i), (ii)
and (iii) above in order to assist TPA or any of its affiliates in obtaining or retaining business for or with, or directing business
to, any person. Neither TPA nor any of its directors, officers, employees or agents have made or authorized any bribe, rebate, payoff,
influence payment, kickback or other unlawful payment of funds or received or retained any funds in violation of any law, rule or regulation.
TPA further represents that it has maintained, and has caused each of its subsidiaries and affiliates to maintain, systems of internal
controls (including, but not limited to, accounting systems, purchasing systems and billing systems) to ensure compliance with the FCPA
or any other applicable anti-bribery or anti-corruption law. Neither TPA, or, to TPA’s knowledge, any of its officers, directors
or employees are the subject of any allegation, voluntary disclosure, investigation, prosecution or other enforcement action related
to the FCPA or any other anti- corruption law (collectively, “Enforcement Action”).

 

2.16         
Data Privacy. In connection with its collection, storage, transfer (including, without limitation, any transfer across national
borders) and/or use of any personally identifiable information from any individuals, including, without limitation, any customers, prospective
customers, employees and/or other third parties (collectively “Personal Information”), TPA is and has been, to TPA’s
knowledge, in compliance with all applicable laws in all relevant jurisdictions, TPA’s privacy policies and the requirements of
any contract or codes of conduct to which TPA is a Party. TPA has commercially reasonable physical, technical, organizational and administrative
security measures and policies in place to protect all Personal Information collected by it or on its behalf from and against unauthorized
access, use and/or disclosure. TPA is and has been, to TPA’s knowledge, in compliance in all material respects with all laws relating
to data loss, theft and breach of security notification obligations.

 

2.17         
Full Disclosure. TPA has provided IPW with all information requested by IPW in connection with its decision to purchase
the Equity Interests. To TPA’s knowledge, no representation or warranty of TPA contained in this Agreement contains any untrue statement
of a material fact nor, to TPA’s knowledge, omits to state a material fact necessary in order to make the statements contained herein
not misleading in light of the circumstances in which they were made.

 

 

 

    	 	9	 

     

    

 

 

3.             
Representations and Warranties of IPW. IPW hereby represents and warrants to TPA and Seller that.

 

3.1           
Organization, Good Standing, Corporate Power and Qualification. IPW is a corporation duly organized, validly existing and
in good standing under the laws of the State of [California] and has all requisite corporate power and authority to own and operate its
properties and assets, to execute and deliver this Agreement and each of the Transaction Agreements, and to carry out the provisions of
this Agreement, the Transaction Agreements and to manage the Company Business and the IPW Business, as presently conducted and as presently
proposed to be conducted. IPW is duly qualified to transact business and is in good standing in each jurisdiction in which the failure
to so qualify would have a Material Adverse Effect.

 

3.2           
Capitalization. The authorized capital of IPW, immediately Closing Date and the owners of 100% of the capital stock of IPW
are listed on Schedule 2.2 annexed hereto.

 

3.3           
Subsidiaries. IPW does not currently own or control, directly or indirectly, any interest in any other corporation, partnership,
trust, joint venture, limited liability company, association, or other business entity. IPW is not a participant in any joint venture,
partnership or similar arrangement. Since its inception, IPW has not consolidated or merged with, acquired all or substantially all of
the assets of, or acquired the stock of or any interest in any corporation, partnership, limited liability company or other business entity.

 

3.4           
Authorization. All corporate action required to be taken by IPW’s Board of Directors and stockholders in order to
authorize IPW to enter into the Transaction Agreements has been taken or will be taken prior to the Closing. All action on the part of
the officers of IPW necessary for the execution and delivery of the Transaction Agreements, the performance of all obligations of IPW
under the Transaction Agreements to be performed as of the Closing, and the issuance and delivery of the Equity Interests has been taken
or will be taken prior to the Closing. The Transaction Agreements, when executed and delivered by IPW, shall constitute valid and legally
binding obligations of IPW, enforceable against IPW in accordance with their respective terms except (i) as limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance, or other laws of general application relating to or affecting the enforcement
of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief,
or other equitable remedies.

 

3.5           
Valid Issuance of Equity Interests. The Equity Interests, when issued, sold and delivered in accordance with the terms and
for the consideration set forth in this Agreement, will be validly issued, fully paid and nonassessable and free of restrictions on transfer
other than restrictions on transfer under the Transaction Agreements, applicable state and federal securities laws and liens or encumbrances
created by or imposed by the Company Operating Agreement. Assuming the accuracy of the representations of IPW in Section 3 of this
Agreement and subject to the filings described in Section 2.6(ii) below, the Equity Interests will be issued in compliance with
all applicable federal and state securities laws.

 

3.6           
Governmental Consents and Filings. Assuming the accuracy of the representations made by IPW in Section 3 of this
Agreement, no consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing with,
any federal, state or local Governmental Authority is required on the part of IPW in connection with the consummation of the transactions
contemplated by this Agreement, except for filings pursuant to Regulation D of the Securities Act, and applicable state securities laws,
which have been made or will be made in a timely manner.

 

 

 

    	 	10	 

     

    

 

 

3.7           
Litigation. There is no claim, action, suit, proceeding, arbitration, complaint, charge or investigation (of which IPW has
been notified) pending or to IPW’s knowledge, currently threatened (i) against IPW or any officer, director or Key Employee of IPW
arising out of their employment or board relationship with IPW; or (ii) that questions the validity of the Transaction Agreements or the
right of IPW to enter into them, or to consummate the transactions contemplated by the Transaction Agreements. Neither IPW nor, to IPW’s
knowledge, any of its officers, directors or Key Employees is a Party or is named as subject to the provisions of any order, writ, injunction,
judgment or decree of any court or government agency or instrumentality (in the case of officers, directors or Key Employees, such as
would affect the Company). There is no action, suit, proceeding or investigation by IPW pending or which IPW intends to initiate. The
foregoing includes, without limitation, actions, suits, proceedings or investigations pending or threatened in writing (or any basis therefor
known to IPW) involving the prior employment of any of IPW’s employees, their services provided in connection with the IPW Business,
or any information or techniques allegedly proprietary to any of their former employers, or their obligations under any agreements with
prior employers.

 

 3.8            IPW Intellectual Property.

 

(a)           
IPW is the sole and exclusive owner of all of IPW Intellectual Property, free and clear of any Encumbrances. IPW Intellectual Property
includes all of the Intellectual Property material to the business or operations of IPW as now conducted and as presently proposed to
be conducted.

 

(b)          
Section 2.8(b)(i) of the Disclosure Schedule sets forth a true, complete and correct list of all IPW Intellectual Property.
The foregoing list includes, without limitation, a list of all domain names owned or controlled by IPW, all patents and patent applications
owned or controlled by IPW, and all other Intellectual Property owned or controlled by IPW that has been registered, or for which an
application for registration has been filed with, the United States Patent and Trademark Office, the United States Copyright Office or
any foreign governmental agency or authority (collectively, the “Registered Intellectual Property”). Section 2.8(b)(ii)
of the Disclosure Schedule sets forth a true, complete and correct list of (1) all options, licenses, sublicenses, and other agreements
or arrangements to which IPW is a Party, or by which IPW is bound, and pursuant to which any other Person is authorized to have access
to, or use of, Intellectual Property owned by IPW, or to exercise any other right with regard thereto; and (2) all options, licenses,
sublicenses, and other agreements or arrangements pursuant to which IPW has been granted a license (other than licenses of “off
the shelf” commercially available standard end-user, object code, internal use software) to or the right to use any Intellectual
Property of a third Party (together with the options, licenses, sublicenses, agreements and other arrangements set forth in clause (a),
“IPW Intellectual Property Licenses”). Each item of Registered Intellectual Property is enforceable, subsisting, unexpired
and has not been abandoned or canceled, and to IPW’s knowledge, is valid and enforceable. Each of the Intellectual Property Licenses
is a legal, valid, binding and enforceable obligation of IPW and, to IPW’s knowledge, each other Party thereto. Neither IPW, nor
to IPW’s knowledge any other Party to any IPW Intellectual Property License, is in breach or default under such IPW Intellectual
Property License, and no event has occurred that with notice or lapse of time would constitute a breach or default by IPW (or to IPW’s
knowledge any other Party thereto) or permit termination, thereunder. No notice of default with respect to any such IPW Intellectual
Property License has been sent or received by IPW.

 

(c)           
IPW possesses valid licenses to use all of the software programs present on the computers and other software enabled electronic
devices that it owns or leases or that it has otherwise provided to its employees for uses that are material to the business or operations
of IPW as now conducted and as presently proposed to be conducted.

 

 

 

    	 	11	 

     

    

 

 

(d)           
To IPW’s knowledge, neither the conduct of the IPW the Business as now conducted, nor IPW’s use of IPW Intellectual
Property owned by IPW or licensed to IPW, infringes upon, violates or misappropriates the Intellectual Property of any third Party, and,
to IPW’s knowledge, there are no pending or threatened, proceedings or litigation or other adverse claims or communications by any
Person alleging any such infringement, violation or misappropriation based on Company’s use of IPW Intellectual Property. To IPW’s
knowledge, no Person is infringing upon or otherwise violating any of IPW’s rights in IPW Intellectual Property. Neither the execution
nor delivery of this Agreement and the other Transaction Agreements, nor the performance and consummation of IPW’s obligations hereunder
and thereunder, will cause the diminution, termination or forfeiture of IPW’s rights in, or require the consent of any third Party
in respect of, any Company Intellectual Property.

 

(e)           
IPW has secured from all employees, consultants and contractors of IPW who have contributed to the creation or development of any
IPW Intellectual Property owned by IPW valid and binding written assignments of all rights, including all Intellectual Property rights,
to such contributions. Except for any IPW Intellectual Property License, IPW has not granted to any Person an exclusive license or equivalent
right with respect to any of IPW Intellectual Property owned by IPW, or assigned or conveyed to any Person any ownership interest (including
joint ownership rights) therein, and no third Party owns or holds any such right, license or interest.

 

3.9           
SEC Filings. IPW has made all necessary filings, when due, with the Securities and Exchange Commission required under the
Securities Exchange Act of 1934, as amended, including all Form 10-K Annual Reports, Form 10-Q Quarterly Reports and Form 8-K Interim
Reports (collectively, the “SEC Filings”) all of which are true and correct in all material respects.

 

3.10         
Compliance with Other Instruments. IPW is not in violation or default (i) of any provisions of its Certificate of Incorporation
or Bylaws, (ii) of any instrument, judgment, order, writ or decree, (iii) under any note, indenture or mortgage, or (iv) under any lease,
agreement, contract or purchase order to which it is a Party or by which it is bound that is required to be listed on the Disclosure
Schedule, or, to IPW’s knowledge, of any provision of federal or state statute, rule or regulation applicable to IPW. The execution,
delivery and performance of the Transaction Agreements and the consummation of the transactions contemplated by the Transaction Agreements
will not result in any such violation or be in conflict with or constitute, with or without the passage of time and giving of notice,
either (i) a default under any such provision, instrument, judgment, order, writ, decree, contract or agreement or (ii) an event which
results in the creation of any lien, charge or encumbrance upon any assets of IPW or the suspension, revocation, forfeiture, or nonrenewal
of any material permit or license applicable to IPW.

 

3.11         
Absence of Liens. Except as disclosed in the SEC Filings, the property and assets that IPW owns are free and clear of all
mortgages, deeds of trust, liens, loans, security interests and encumbrances, except for statutory liens for the payment of current taxes
that are not yet delinquent and encumbrances and liens that arise in the ordinary course of business and do not materially impair IPW’s
ownership or use of such property or assets. With respect to the property and assets it leases, IPW is in compliance with such leases
and, to IPW’s knowledge, holds a valid leasehold interest free of any liens, claims or encumbrances other than those of the lessors
of such property or assets. IPW does not own any real property. Except as disclosed in the SEC Reports, IPW has no material liabilities
or obligations, whether absolute, accrued, contingent or otherwise and whether due or to become due, asserted or unasserted, other than
(i) liabilities incurred in the ordinary course of business, (ii) obligations under contracts and commitments incurred in the ordinary
course of business, (iii) liabilities and obligations of a type or nature not required under generally accepted accounting principles
to be reflected in financial statements and which, in all such cases, individually and in the aggregate, would not have a Material Adverse
Effect.

 

 

 

 

    	 	12	 

     

    

 

 

3.12         
IPW Financial Statements. IPW has delivered to IPW its audited financial statements as of December 31, 2020 and for the
fiscal year then ended (including balance sheet, income statement and statement of cash flows) and the interim unaudited financial statements
included in the SEC Filings (collectively, the “IPW Financial Statements”). The IPW Financial Statements, together
with the notes thereto, have been prepared in accordance with generally accepted accounting principles (“GAAP”) applied
on a consistent basis throughout the periods indicated, except as disclosed therein; provided, however, that the unaudited IPW Financial
Statements are subject to normal recurring year-end audit adjustments (which are not expected to be material either individually or in
the aggregate), and may not contain all footnotes required by GAAP. The IPW Financial Statements fairly present in all material respects
the financial condition and operating results of IPW as of the dates, and for the periods, indicated therein, subject in the case of the
unaudited Financial Statements to normal year-end audit adjustments. Except as set forth in the IPW Financial Statements, IPW has no material
liabilities or obligations, contingent or otherwise, other than (i) liabilities incurred in the ordinary course of business subsequent
to December 31, 2020.

 

3.13       
Non-Disclosure, Proprietary Information and Invention Assignment and Non-Competition Agreements. IPW has taken all reasonable
security measures to maintain and protect the secrecy, confidentiality and value of all proprietary information and trade secrets used
in IPW’s business. Each current and former employee and officer of IPW, and each current and former consultant and contractor to
IPW, has executed (or will execute at the Initial Closing) an agreement regarding confidentiality and the assignment of inventions to
IPW. To IPW’s knowledge, no current or former employee, officer, consultant or contractor is in violation of his or her confidentiality
and invention assignment agreement. No current or former employee, officer, consultant, or contractor of IPW has excluded works or inventions
related to IPW’s business from his or her assignment of inventions pursuant to such person’s confidentiality and invention
assignment agreement.

 

3.14         
Permits. IPW has all franchises, permits, licenses and any similar authority necessary for the conduct of its business (as
now conducted), the lack of which could reasonably be expected to have a Material Adverse Effect. IPW is not in default in any material
respect under any of such franchises, permits, licenses or other similar authority.

 

3.15         
Environmental and Safety Laws. To IPW’s knowledge (a) IPW is and has been in compliance with all Environmental Laws;
(b) there has been no release or, to IPW’s knowledge, threatened release of any Hazardous Substance on, upon, into or from any site
currently or heretofore owned, leased or otherwise used by IPW; (c) there have been no Hazardous Substances generated by IPW that have
been disposed of or come to rest at any site that has been included in any published U.S. federal, state or local “superfund”
site list or any other similar list of hazardous or toxic waste sites published by any governmental authority in the United States; and
(d) there are no underground storage tanks located on, no polychlorinated biphenyls (“PCBs”) or PCB-containing equipment
used or stored on, and no hazardous waste as defined by the Resource Conservation and Recovery Act, as amended, stored on, any site owned
or operated by IPW, except for the storage of hazardous waste in compliance with Environmental Laws. IPW has made available to IPWs true
and complete copies of all material environmental records, reports, notifications, certificates of need, permits, pending permit applications,
correspondence, engineering studies, and environmental studies or assessments.

 

3.16         
Foreign Corrupt Practices Act. Neither IPW nor any of IPW’s directors, officers, employees or agents have, directly
or indirectly, made, offered, promised or authorized any payment or gift of any money or anything of value to or for the benefit of any
“foreign official” (as such term is defined in the U.S. Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”)),
foreign political Party or official thereof or candidate for foreign political office for the purpose of (i) influencing any official
act or decision of such official, Party or candidate, (ii) inducing such official, Party or candidate to use his, her or its influence
to affect any act or decision of a foreign governmental authority, or (iii) securing any improper advantage, in the case of (i), (ii)
and (iii) above in order to assist IPW or any of its affiliates in obtaining or retaining business for or with, or directing business
to, any person. Neither IPW nor any of its directors, officers, employees or agents have made or authorized any bribe, rebate, payoff,
influence payment, kickback or other unlawful payment of funds or received or retained any funds in violation of any law, rule or regulation.
IPW further represents that it has maintained, and has caused each of its subsidiaries and affiliates to maintain, systems of internal
controls (including, but not limited to, accounting systems, purchasing systems and billing systems) to ensure compliance with the FCPA
or any other applicable anti-bribery or anti-corruption law. Neither IPW, or, to IPW’s knowledge, any of its officers, directors
or employees are the subject of any allegation, voluntary disclosure, investigation, prosecution or other enforcement action related
to the FCPA or any other anti- corruption law (collectively, “Enforcement Action”).

 

 

 

    	 	13	 

     

    

 

 

3.17         
Data Privacy. In connection with its collection, storage, transfer (including, without limitation, any transfer across
national borders) and/or use of any personally identifiable information from any individuals, including, without limitation, any customers,
prospective customers, employees and/or other third parties (collectively “Personal Information”), IPW is and has
been, to IPW’s knowledge, in compliance with all applicable laws in all relevant jurisdictions, IPW’s privacy policies and
the requirements of any contract or codes of conduct to which IPW is a Party. IPW has commercially reasonable physical, technical, organizational
and administrative security measures and policies in place to protect all Personal Information collected by it or on its behalf from
and against unauthorized access, use and/or disclosure. IPW is and has been, to IPW’s knowledge, in compliance in all material
respects with all laws relating to data loss, theft and breach of security notification obligations.

 

3.18         
Full Disclosure. IPW has provided IPW with all information requested by IPW in connection with its decision to purchase
the Equity Interests. To IPW’s knowledge, no representation or warranty of IPW contained in this Agreement contains any untrue statement
of a material fact nor, to IPW’s knowledge, omits to state a material fact necessary in order to make the statements contained herein
not misleading in light of the circumstances in which they were made.

 

 4.              Closing and Closing Deliveries

 

4.1           
The Closing. The Parties agree that the closing and delivery of all of the Transactions Documents (the “Closing”)
shall occur on a date (the “Closing Date”) which shall be not later than January 31, 2022 (the “Closing Date”)
unless such Closing Date shall be extended by mutual agreement of the Parties.

 

4.2           
Deliveries. At the Closing and on the Closing Date, each of the Parties shall execute and delivery all of the Transaction
Documents.

 

 5.              Miscellaneous.

 

5.1          
 Survival of Warranties. The representations, warranties, covenants and agreements made herein shall survive the closing
of the transactions, except that : (i) the representations and warranties set forth in Section 2.1, Section 2.2, Section
2.4 and Section 2.5 and Section 3.1, Section 3.2, Section 3.4 and Section 3.5 shall survive until
the expiration of the applicable statute of limitations and (ii) all other representations and warranties of TPA shall survive for a period
of eighteen (18) months from the Closing Date The representations, warranties, covenants and agreements made herein shall not be limited
or otherwise affected by or as a result of any information furnished to, or any investigation made by or knowledge of any of the Parties
or any of their representatives.

 

5.2          
Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE IN
ALL RESPECTS AS SUCH LAWS ARE APPLIED TO AGREEMENTS AMONG DELAWARE RESIDENTS ENTERED INTO AND PERFORMED ENTIRELY WITHIN THE STATE OF CALIFORNIA,
WITHOUT GIVING EFFECT TO CONFLICT OF LAW PRINCIPLES THEREOF THAT WOULD RESULT IN THE APPLICATION OF ANY OTHER LAWS.

 

 

 

 

    	 	14	 

     

    

 

 

5.3          
Successors and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the
respective successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any Party
other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by
reason of this Agreement, except as expressly provided in this Agreement.

 

5.4           
Counterparts; Facsimile and Electronic Transmission. This Agreement may be executed in any number of counterparts, each
of which shall be an original, but all of which together shall constitute one instrument. This Agreement, the agreements referred to herein,
and each other agreement or instrument entered into in connection herewith or therewith or contemplated hereby or thereby, and any amendments
hereto or thereto, to the extent signed and subsequently delivered by means of a facsimile machine or e-mail, shall be treated in all
manner and respects and for all purposes as an original agreement or instrument and shall be considered to have the same binding legal
effect as if it were the original signed version thereof delivered in person. At the request of any Party hereto or to any such agreement
or instrument, each other Party hereto or thereto shall re-execute original forms thereof and deliver them to all other parties. No Party
hereto or to any such agreement or instrument shall raise (a) the use of a facsimile machine or e-mail to deliver a signature or (b) the
fact that any signature or agreement or instrument was signed and subsequently transmitted or communicated through the use of a facsimile
machine or e-mail as a defense to the formation or enforceability of a contract and each such Party forever waives any such defense.

 

5.5           
Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered
in construing or interpreting this Agreement.

 

5.6          
Notices. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon
personal delivery to the Party to be notified, (b) when sent by confirmed electronic mail if sent during normal business hours of the
recipient, if not, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt
requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery,
with written verification of receipt. All communications shall be sent to the address as set forth on the signature page hereof or at
such other address or electronic mail address as any of the Parties may designate by ten (10) days advance written notice to the other
parties hereto.

 

5.7           
No Finder’s Fees. Each Party represents that it neither is nor will be obligated for any finder’s fee or commission
in connection with this transaction. IPW agrees to indemnify and to hold harmless TPA from any liability for any commission or compensation
in the nature of a finder’s or broker’s fee arising out of this transaction (and the costs and expenses of defending against
such liability or asserted liability) for which IPW or any of its officers, employees, or representatives is responsible. TPA agrees to
indemnify and hold harmless IPW from any liability for any commission or compensation in the nature of a finder’s or broker’s
fee arising out of this transaction (and the costs and expenses of defending against such liability or asserted liability) for which TPA
or any of its officers, employees or representatives is responsible.

 

5.8          
Attorneys’ Fees. In the event that any suit or action is instituted under or in relation to this Agreement, including,
without limitation, to enforce any provision in this Agreement, the prevailing Party in such dispute shall be entitled to recover from
the losing Party all fees, costs and expenses of enforcing any right of such prevailing Party under or with respect to this Agreement,
including, without limitation, such reasonable fees and expenses of attorneys and accountants, which shall include, without limitation,
all fees, costs and expenses of appeals.

 

5.9          
Amendments and Waivers. Any term of this Agreement may be amended, terminated or waived only with the written consent of
TPA and IPW. Any amendment or waiver effected in accordance with this Section 5.9 shall be binding upon each transferee of the
Equity Interests, each future holder of all such securities.

 

5.10         
Severability. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability
of any other provision.

 

 

 

 

    	 	15	 

     

    

 

 

5.11         
Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any Party under this Agreement,
upon any breach or default of any other Party under this Agreement, shall impair any such right, power or remedy of such non- breaching
or non-defaulting Party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in
any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other
breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of
any Party of any breach or default under this Agreement, or any waiver on the part of any Party of any provisions or conditions of this
Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under
this Agreement or by law or otherwise afforded to any Party, shall be cumulative and not alternative.

 

5.12         
Entire Agreement. This Agreement (including the Exhibits hereto), and the other Transaction Agreements constitute the full
and entire understanding and agreement among the parties with respect to the subject matter hereof, and any other written or oral agreement
relating to the subject matter hereof existing among the parties are expressly canceled.

 

5.13         
Dispute Resolution. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the federal and
state courts located in the State of Delaware, for the purpose of any suit, action or other proceeding arising out of or based upon this
Agreement, (b) agree not to commence any suit, action or other proceeding arising out of or based upon this Agreement except in the federal
and state courts located within the geographic boundaries of the United States District Court for the Southern District of Los Angeles,
and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any
claim that it is not subject personally to the jurisdiction of the above- named courts, that its property is exempt or immune from attachment
or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding
is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court.

 

5.14         
WAIVER OF JURY TRIAL. EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR
ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION AGREEMENTS, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF
 WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT
MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS,
AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS
WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER
WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL
COUNSEL.

 

[Signature Page follows]

 

 

 

 

 

 

 

    	 	16	 

     

    

 

IN
WITNESS WHEREOF, the parties have executed this Joint Venture Agreement as of the date first written above.

 

	 	BOX HARMONY, LLC
	 	 
	 	By:	 /s/ Bin Xiao
	 	Name:	Bin Xiao
	 	Title:	Chief Executive Officer
	 	 
	 	Address:
	 	4271 Don Julian Road
	 	City
of Industry, CA 91746
	 	 
	 	 
	 	/s/ Tony Chiu
	 	Tony Chiu
	 	 
	 	 
		
	 	/s/ Bin Xiao
	 	Bin Xiao
	 	Address:
	 	8798 9th Street, Building C
	 	Rancho Cucamonga, CA 91730
	 	 
	 	 
	 	TITANIUM PLUS AUTOPARTS, INC.
	 	 
	 	By:	/s/ Tony Chiu
	 	Name:	Tony Chiu,
	 	Title:	President
	 	4271 Don Julian Road
	 	City of Industry, CA 91746
	 	 
	 	 
	 	

iPOWER INC.

	 	By:	/s/ Chenlong Tan
	 	Name:	Chenlong Tan,
	 	Title:	President
	 	 	 
	 	Address:
	 	2399 Bateman Avenue
	 	Duarte, CA 91010

 

 

 

 

 

 

Signature page to Joint Venture
Agreement

 

 

 

    	 	17

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