Document:

Exhibit 10.14

   

  LOAN AGREEMENT

   

  The undersigned, TECTONIC MERGER SUB, INC. (“TMS”), a Texas corporation, and T BANCSHARES, INC. (“T Bancshares”), a Texas corporation (TMS

    and T Bancshares are herein together, the “Borrower”), with their mailing address located at the respective addresses set forth on the signature pages hereof, has requested that TIB -
    THE INDEPENDENT BANKERSBANK (the “Lender”) extend a loan (the “Loan”) to Borrower to be evidenced by Borrower’s promissory note dated of even
    date herewith, in the stated principal sum of $12,000,000.00, payable to the order of Lender as therein specified (the “Note”). The Note (and all renewals, extensions and rearrangements thereof) is
    hereinafter referred to as the “Note.” In consideration of Lender making the Loan, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Borrower agrees with Lender as follows:

   

  1.          Definitions. Terms as used in this Loan Agreement (the “Agreement”) shall
    have the meanings as contained on the attached Schedule A.

   

  2.          Repayment of Loan. Borrower shall repay the Loan, plus accrued interest thereon, as provided in the Note.

   

  3.          Collateral. To secure full and complete payment and performance of the Obligations, Borrower shall execute and deliver or
    cause to be executed and delivered the documents described below covering the collateral described in this Section (which, together with any other property and collateral which may now or hereafter secure the Obligations or any part thereof, is
    sometimes herein called the “Collateral”):

   

  (a)          T Bancshares shall grant to Lender a first priority security interest in all of the capital stock of the Bank, including
    common and preferred stock, now owned or hereafter acquired by T Bancshares, and all products and proceeds thereof, pursuant to the Pledge Agreement (the “Pledged Stock”). Lender shall retain possession
    of the certificate or certificates representing the Pledged Stock, together with stock powers duly executed in blank by T Bancshares.

   

  (b)          Borrower consents to the filing of any Uniform Commercial Code financing statements Lender deems necessary or desirable to
    evidence and perfect its liens and security interests in the Collateral.

   

  4.          A. Conditions Precedent. The obligation of Lender to make the Loan is subject to the condition precedent that Lender shall
    have received all of the following, each dated (unless otherwise indicated) the date hereof, in form and substance satisfactory to Lender:

   

  (a)          Note. The Note executed by Borrower.

   

  (b)          Pledge Agreement. The Pledge Agreement executed by Borrower and Grantor.

   

  (c)          Pledged Stock. The original certificates representing the Pledged Stock, accompanied by stock powers duly executed
    in blank by Borrower and Grantor.

   

  (d)          Additional Information. Such additional documents, instruments, and information as Lender or its legal counsel may
    request.

   

  4.          B. Conditions Precedent to All Advances. To the extent the Loan includes advances which may be made after the Closing Date,
    the obligation of the Lender to thereafter make any advance under the Loan is subject to the following additional conditions precedent:

   

  (a)          Advance Request Form. Lender shall have received an advance request form in a form satisfactory to Lender, dated
    the date of such advance, executed by an authorized officer of the Borrower;

   

  
    	
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  (b)          No Default. No Event of Default, and no event which with the giving of notice or lapse of time or both would be an
    Event of Default, shall have occurred and be continuing, or would result from such advance;

   

  (c)          Representations and Warranties. All of the representations and warranties contained in the Loan Documents shall be
    true and correct on and as of the date of such advance with the same force and effect as if such representations and warranties had been made on and as of such date;

   

  (d)          No Material Adverse Change. No material adverse change in the business, condition (financial or otherwise),
    operations, performance, properties or prospects of the Borrower or any of its Subsidiaries shall have occurred since the date of the most recent financial statements of Borrower and Bank delivered to Lender;

   

  (e)          Additional Documentation. Lender shall have received such additional approvals or documents as the Lender or its
    legal counsel may reasonably request; and

   

  (f)           Terms. Lender shall have reviewed and approved the terms and conditions of the use of proceeds of the advance to
    be made.

   

  5.          Representations and Warranties. To induce Lender to enter into this Agreement, Borrower represents and warrants to Lender
    that:

   

  (a)          Each Borrower (i) is a corporation duly organized, validly existing, and in good standing under the laws of the State of
    Texas; (ii) has all requisite corporate power to own assets and carry on its business as now being or as proposed to be conducted; and (iii) is qualified to do business in all jurisdictions in which the nature of its business makes such qualifications
    necessary and where failure to so qualify would have a material adverse effect on its business, financial condition, or operations. Bank is a national banking association duly organized, validly existing and in good standing under the applicable laws
    of the United States and the State of Texas.

   

  (b)          The execution, delivery and performance by Borrower of this Agreement, the Note and other Loan Documents have been duly
    authorized by all necessary action of Borrower and are not in contravention of any law, rule or regulation or of the terms of any agreement or instrument to which Borrower is a party or by which it may be bound or of Borrower’s certificate of
    formation/articles of incorporation or bylaws.

   

  (c)          This Agreement, the Note and the other Loan Documents, when delivered, shall constitute the legal, valid and binding
    obligation of Borrower enforceable against Borrower in accordance with their respective terms, except as limited by bankruptcy, insolvency, or other laws of general application relating to the enforcement of creditors’ rights.

   

  (d)          No litigation or governmental proceeding is pending, or to the knowledge of Borrower, threatened against or affecting
    Borrower or Bank, which may result in any material adverse change in Borrower’s or Bank’s business, properties or operations.

   

  (e)          Borrower has no Debt except Debt to Lender and as described on Schedule B hereto. None of Borrower’s or
    Bank’s assets are subject to any Lien except Liens to Lender and as disclosed to Lender in writing.

   

  (f)           T Bancshares has the unrestricted right to pledge the Collateral as contemplated by the Loan Documents. There are no
    existing subscriptions, options, warrants, calls, or rights (including preemptive rights) to acquire, and no existing Debt, securities or other instruments convertible into or exchangeable for capital stock of the Bank.

   

  
    	
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  (g)          No certificate or statement (including without limitation financial statements) herewith or heretofore delivered by
    Borrower to Lender in connection therewith, or in connection with any transaction contemplated hereby, contains any untrue statement of a material fact or fails to state any material fact necessary to keep the statements contained therein from being
    misleading and there has been no material adverse change in Borrower’s or Bank’s financial condition and operations subsequent to the date of the most recent financial statements of Borrower and Bank delivered to lender.

   

  6.          Affirmative Covenants. Borrower covenants and agrees that, as long as the Obligations or any part thereof are outstanding or
    Lender has any commitment hereunder, Borrower will observe and perform the following affirmative covenants, unless Lender shall otherwise consent in writing:

   

  (a)          Borrower will furnish to Lender as soon as available, and in any event within one hundred twenty (120) days after the end
    of each fiscal year of Borrower, a copy of the annual audit report of Borrower and Bank for such fiscal year containing, on a consolidated and unconsolidated basis, balance sheets, statements of income, statements of changes in financial position and
    cash flows as at the end of such fiscal year and for the 12-month period then ended, in each case setting forth in comparative form the figures for the preceding fiscal year, all in reasonable detail and audited and certified by independent certified
    public accountants of recognized standing acceptable to lender, to the effect that such report has been prepared in accordance with GAAP.

   

  (b)          To the extent that Lender is unable to readily obtain online, within ten (10) days of lender’s written request, Borrower
    will deliver to Lender copies of financial reports of Borrower for such period, prepared in conformity with GAAP, and which fairly and accurately states Borrower’s financial condition at such time (including all assets, liabilities, contingent
    liabilities, and cash flow); such financial reports shall include without limitation a copy of Borrower’s most recent Federal Reserve Form Y-9SP or Form Y-9LP, Federal Reserve Form Y-6, as well as any Federal Reserve Form Y-10 if applicable. In
    addition, to the extent that Lender is unable to readily obtain online, within ten (10) days of Lender’s written request, Borrower will deliver to Lender copies of all Call Reports as filed with the Federal Financial Institutions Examination Council as
    well as copies of the Uniform Bank Performance Report for Bank prepared by the Federal Financial Institutions Examination Council or any successor entity.

   

  (c)          As soon as available, and in any event within thirty (30) days after the end of each calendar quarter, Borrower shall
    furnish to Lender reports identifying the Classified Assets and Criticized Assets of Bank.

   

  (d)          As soon as available, and in any event within thirty (30) days after the end of each calendar quarter, Borrower shall
    deliver or cause to be delivered to Lender directors’ reports from any board meetings during such quarter.

   

  (e)          Promptly, and in any event, prior to February 28 of each and every year during the term of the loan (including renewals,
    modifications, and/or extensions thereof), Borrower shall and shall cause Bank to create and deliver to Lender a comprehensive and detailed fiscal budget for the forthcoming year, such budget to include projected cash flow information and a pro forma
    balance sheet.

   

  (f)           Borrower will cause Bank to maintain at all times a liquidity position determined by the ratio of total deposits to total
    loans which is in accordance with any guidelines that may be recommended by applicable federal bank regulatory authorities.

   

  (g)          Borrower will preserve and maintain its present existence and good standing in jurisdictions where Borrower is organized
    and operates. Borrower will continue its business or activities as presently conducted by obtaining licenses, permits and bonds where needed. Borrower will obtain lender’s prior written consent before ceasing business or engaging in any line of
    business that is materially different from its present business.

   

  
    	
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  (h)          Borrower will promptly inform Lender of any litigation against Borrower or Bank or affecting any of Borrower’s or Bank’s
    property, if such litigation or potential litigation might, in the event of an unfavorable outcome, have a material adverse effect on Borrower’s or Bank’s financial condition or might cause an Event of Default.

   

  (i)           Borrower will notify Lender within ten (10) days of the occurrence of an Event of Default or event which with the giving
    of notice or lapse of time or both would constitute an Event of Default.

   

  (j)           If, at any time Lender in its sole but reasonable discretion believes that it is advisable that the loan portfolio of
    Bank should be reviewed during any year during the term of the Loan, Borrower will provide or cause to be provided to Lender a third party loan review of Bank’s loan portfolio conducted by an independent third party acceptable to Lender, such review to
    begin within ninety (90) days after Lender’s written request therefor. Borrower shall provide such reviews annually if Bank is the subject of any regulatory action.

   

  (k)          Borrower will promptly furnish to Lender written notice of (i) the issuance of any notice of charges, cease and desist
    order (temporary or otherwise) or order to take affirmative action by any governmental or regulatory authority against Borrower or Bank or any director, officer, employee, agent, or other person participating in the conduct of the affairs of Borrower
    or Bank, (ii) the service of any notice of intention to remove from office or notice of intention to suspend from office by any governmental or regulatory authority upon any director or officer of Borrower or Bank, (iii) the issuance of a notice of
    termination of the status of Bank as an insured bank under the Federal Deposit Insurance Corporation Act, as amended, or (iv) the commencement of any action, issuance of any order, or the occurrence of any other event between any governmental or
    regulatory authority the result of which would prohibit, limit or otherwise in any manner restrict the payment of dividends or flow of monies or benefits from Bank.

   

  (l)           Borrower shall maintain, and cause Bank to maintain, insurance of the kinds, covering the risks and in the relative
    proportionate amounts carried by Bank consistent with past practices, and at Lender’s request, deliver to Lender evidence of the maintenance of such insurance.

   

  (m)         Borrower will promptly furnish to Lender, at Lender’s request and within Lender’s sole discretion, such additional
    financial or other information concerning the assets, liabilities, operations and transactions of Borrower, and/or Bank as Lender may from time to time request.

   

  7.           Negative Covenants. Borrower covenants and agrees that, as long as the Obligations or any part thereof are outstanding or
    Lender has any commitment hereunder, Borrower will perform and observe the following negative covenants as noted applicable to this transaction unless Lender shall otherwise consent in writing:

   

  (a)          Borrower will not permit:

   

  (1)          ☑  Bank’s Classified Asset to at any time exceed thirty-five percent (35%) of the Tier 1 Capital plus allowance for loan and
    lease losses of Bank;

   

  (2)          ☑  Bank’s Leverage Ratio to at any time be less than eight and one-half percent (8.5%);

   

  (3)          ☑  Bank’s Common Equity Tier 1 Ratio to at any time be less than eight and one-half percent (8.5%);

   

  (4)          ☑  Bank’s Tier 1 Capital Ratio to at any time be less than ten percent (10%);

   

  (5)          ☑  Bank’s Total Capital Ratio to at any time be less than eleven percent (11%);

   

  (6)          ☑ Bank’s Tier 1 Capital to at any time be less than $20,000,000.00 prior to the Conversion Date (as defined in the Note),
    and less than $24,000,000.00 following the Conversion Date, to be measured quarterly upon receipt of and based upon financial information delivered in accordance with Section 6;

   

  
    	
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  (7)          ☑  Bank’s Return on Average Assets to be less than one and one-quarter percent (1.25%) for any fiscal quarter;

   

  (8)         ☑  Its Debt Service Coverage Ratio to be less than 1.4 times, measured quarterly (but analyzed on an annualized basis) upon
    receipt of and based upon financial information delivered in accordance with Section 6;

   

  (9)          ☑  The ratio of Bank’s Total Loans to Total Assets to at any time be greater than eighty-seven percent (87%);

   

  (10)        ☐  The ratio of Bank’s Total loans to Total Deposits to at any time be greater than           N/A           percent (          N/A            
    %);

   

  (11)        ☐  Bank’s Total Reported loans for Construction, Land Development, and other Land Loans to exceed           N/A          
    % of Bank’s Total Risk Based Capital;

   

  (12)         ☐  Bank’s Total Reported Commercial Real Estate loans to at any time exceed           N/A           % of Bank’s
    Total Risk Based Capital;

   

  (13)         ☐  Bank’s aggregate capital expenditures to exceed $     N/A           during any calendar year during the term
    hereof;

   

  (b)          Borrower will not permit any change in Control of Borrower to occur (for purposes hereof, “Control” shall mean the power
    to vote at least twenty-five percent (25%) of any voting stock of Borrower), except as provided in Section 8(g) below;

   

  (c)          Borrower will not and will not permit Bank to sell, lease, or otherwise dispose of any of its assets used or useful in its
    business, except in the regular course of business for reasonably equivalent cash consideration;

   

  (d)          Borrower will not incur, create, assume, or permit to exist any Lien upon any of its property, assets or revenues, whether
    now owned or hereafter acquired, except Liens in favor of Lender (provided, however, that the foregoing shall not apply to Liens for taxes which are not delinquent or which are being contested in good faith with bond or other security reasonably
    acceptable to Lender if Lender so requires, mechanic’s and materialmen’s Liens with respect to obligations which are not overdue or which are being contested in good faith, and Liens resulting from deposits to secure the payments of workers’
    compensation or other social security or to secure the performance of bids or contracts in the ordinary course of business); and

   

  (e)          During the existence of an Event of Default, or if doing so would cause an Event of Default (or an event which, with the
    giving of notice, or passage of time, or both, would be an Event of Default), Borrower will not declare or pay any dividends or make any other payment or distribution (in cash, property, or obligations) on account of its capital stock, or redeem,
    purchase, retire or otherwise acquire any of its capital stock, or set apart any money for a sinking or other analogous fund for any dividend or other distribution on its capital stock or for any redemption, purchase, retirement, or other acquisition
    of any of its capital stock, or grant or issue any capital stock or any warrant, right or option pertaining to its capital stock, or issue any security convertible into capital stock, or permit any of its Subsidiaries to grant or issue any capital
    stock or any warrant, right or operation pertaining to its capital stock or purchase any capital stock of Borrower or another Subsidiary.

   

  8.           Event of Default. Without in any way impairing the demand nature of the Note, each of the following shall be deemed an “Event
    of Default”:

   

  (a)          Borrower shall fail to pay or perform when due the Obligations or any part thereof.

   

  
    	
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  (b)          A cease and desist order shall be issued or shall be drafted or recommended against the Bank by any regulatory authority.

   

  (c)          Borrower, Bank, or any Obligated Party shall commence a voluntary proceeding seeking liquidation, reorganization, or other
    relief with respect to itself or its debts under any bankruptcy, insolvency, receivership, conservatorship, or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian, conservator, or other
    similar official of it or a substantial part of its property or shall consent to any such relief or to the appointment of or taking possession by any such official in such a proceeding commenced against it or shall make a general assignment for the
    benefit of creditors or shall generally fail to pay its debts as they become due or shall take any corporate action to authorize any of the foregoing or shall be subject to any proceeding to accomplish a comparable arrangement.

   

  (d)          An involuntary proceeding shall be commenced against the Borrower, Bank, or any Obligated Party seeking liquidation,
    reorganization, or other relief with respect to it or its debts under any bankruptcy, insolvency, receivership, conservatorship, or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian,
    conservator, or other similar official for it or a substantial part of its property, and such involuntary proceeding shall remain undismissed and unstayed for a period of thirty (30) days.

   

  (e)          Borrower, Bank or any Obligated Party shall fail to pay when due any principal or interest on any Debt (other than the
    Obligations), or the maturity of any such Debt shall have been accelerated, or any such Debt shall have been required to be prepaid prior to the state maturity thereof, or any event shall have occurred and be continuing that, with the giving of notice
    or lapse of time or both, would permit any holder or holders of such Debt or any Person acting on behalf of such holder or holders to accelerate the maturity thereof or require any such prepayment.

   

  (f)          This Agreement or any other Loan Document shall cease to be in full force and effect or shall be declared null and void or
    the validity or enforceability thereof shall be contested or challenged by Borrower or any of Borrower’s shareholders, or Borrower shall deny that it has any further liability or obligation under any of the Loan Documents.

   

  (g)          Borrower shall fail, at any time, to own and have pledged to Lender at least 100% of the issued and outstanding shares of
    capital stock of Bank, or such security interest in favor of Lender shall at any time fail to be a first priority perfected lien and security interest. In connection herewith, and notwithstanding anything to the contrary in the Loan Documents, TMS and
    T Bancshares may merge, or T Bancshares may transfer the Pledged Stock to TMS so long as prior written notice is given to Lender, and Borrower takes all necessary or prudent action to retain in Lender a first priority perfected lien and security
    interest in the Collateral.

   

  (h)          Any representation or warranty made or deemed made by the Borrower, Bank or any Obligated Party in any Loan Document or in
    any certificate, report, notice or financial statement furnished at any time in connection with this Agreement shall be false, misleading, or erroneous in any material respect when made or deemed to have been made.

   

  (i)           Borrower, Bank or any Obligated Party shall fail to perform, observe, or comply with any other covenant, agreement or
    term contained in this Agreement or any other Loan Document.

   

  9.         Rights of Lender. Upon the occurrence of an Event of Default, Lender may without notice terminate its commitment to lend
    hereunder and declare the Obligations or any part thereof to be immediately due and payable, and the same shall thereupon become immediately due and payable, without demand, presentment, notice of dishonor, notice of acceleration, notice of intent to
    accelerate, notice of intent to demand, or protest, all of which are hereby expressly waived; provided, however, that upon the occurrence of an Event of Default under Section 8(c) or Section

        8(d), the commitment of Lender to lend hereunder shall automatically terminate, and the Obligations shall become immediately due and payable without notice, demand, presentment, notice of dishonor, notice of acceleration, notice of
    intent to accelerate, notice of intent to demand, or protest, all of which are hereby expressly waived. Upon the occurrence of any Event of Default, Lender may exercise all rights and remedies available to it in law or in equity, under the Loan
    Documents or otherwise.

   

  
    	
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  10.      Applicable Law. This Agreement and all other documents and instruments executed pursuant hereto or in connection herewith and the
    transactions contemplated hereby are made and performable in Dallas County, Texas and shall be governed by and construed in accordance with the laws of the State of Texas and the applicable laws of the United States of America.

   

  11.      Severability. The unenforceability of any provision of this Agreement shall not affect the enforceability or validity of any
    other provision hereof.

   

  12.      Counterparts. This Agreement may be executed in any number of counterparts and by different parties hereto on separate
    counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute but one and the same instrument. Delivery of an executed counterpart by fax or pdf shall be effective as delivery of an
    original signature.

   

  13.      Miscellaneous. No modification, consent, amendment or waiver of any provision of this Agreement, nor consent to any departure by
    Borrower therefrom, shall be effective unless the same shall be in writing and signed by an officer of Lender, and then shall be effective only in the specific instance and for the purpose for which given. No notice to or demand on Borrower in any case
    shall, or itself, entitle Borrower to any other or further notice or demand in similar or other circumstances. No delay or omission by Lender in exercising any power or right hereunder shall impair any such right or power or be construed as a waiver
    thereof or any acquiescence therein, nor shall any single or partial exercise of any such power preclude other or further exercise thereof, or the exercise of any other right or power hereunder. All rights and remedies of Lender hereunder are
    cumulative of each other and of every other right or remedy which Lender may otherwise have at law or in equity or under any other contract or document, and the exercise of one or more rights or remedies shall not prejudice or impair the concurrent or
    subsequent exercise or other rights or remedies. All accounting terms not specifically defined herein shall be construed in accordance with GAAP on the basis used by Borrower in prior years. This Agreement is binding upon Borrower, its successors and
    assigns, and inures to the benefit of Lender, its successors and assigns; provided, however that Borrower may not assign its rights or obligations hereunder without Lender’s prior written consent.

   

  14.      Expenses of Lender. Borrower agrees to pay on demand all reasonable costs and expenses incurred by Lender in connection with the
    preparation, negotiation, execution and administration of this Agreement and the other Loan Documents and the transactions contemplated hereby, including reasonable costs and expenses incurred by Lender in connection with any and all amendments,
    modifications, supplements to, and ongoing administration of this Agreement and the other Loan Documents, including without limitation the reasonable costs and fees of Lender’s legal counsel, and all costs and expenses incurred by Lender in connection
    with the enforcement or preservation of any rights under this Agreement or any other Loan Document.

   

  15.      INDEMNIFICATION. EXCEPT FOR LENDER’S GROSS NEGLIGENCE OR WILFUL MISCONDUCT, BORROWER HEREBY INDEMNIFIES LENDER AND EACH AFFILIATE
    THEREOF AND THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, ATTORNEYS, AND AGENTS FROM, AND HOLDS EACH OF THEM HARMLESS AGAINST, ANY AND ALL LOSSES, LIABILITIES, CLAIMS, DAMAGES, PENALTIES, JUDGMENTS, COSTS, AND EXPENSES (INCLUDING ATTORNEYS’ FEES) TO
    WHICH ANY OF THEM MAY BECOME SUBJECT WHICH DIRECTLY OR INDIRECTLY ARISE FROM OR RELATE TO (i) THE NEGOTIATION, EXECUTION, DELIVERY, PERFORMANCE, ADMINISTRATION, OR ENFORCEMENT OF ANY OF THE LOAN DOCUMENTS, (ii) ANY OF THE TRANSACTIONS CONTEMPLATED BY
    THE LOAN DOCUMENTS, (iii) ANY BREACH BY BORROWER OF ANY REPRESENTATION, WARRANTY, COVENANT, OR OTHER AGREEMENT CONTAINED IN ANY OF THE LOAN DOCUMENTS, OR (iv) ANY INVESTIGATION, LITIGATION, OR OTHER PROCEEDING, INCLUDING, WITHOUT LIMITATION, ANY
    THREATENED INVESTIGATION, LITIGATION, OR OTHER PROCEEDING RELATING TO ANY OF THE FOREGOING. Without limiting any provision of this agreement or of any other Loan Document, it is the express intention of the parties hereto that each person to be
    indemnified under this Section shall be indemnified from and held harmless against any and all losses, liabilities, claims, damages, penalties, judgments, costs, and expenses (including attorney’s fees) arising out of or resulting from the sole or
    contributory negligence of the person to be indemnified.

   

  
    	
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  16.      Limitation of Liability. Neither Lender nor any affiliate, officer, director, employee, attorney, or agent of Lender shall have
    any liability with respect to, and Borrower hereby waives, releases, and agrees not to sue any of them upon, any claim for any special, indirect, incidental, or consequential damages suffered or incurred by Borrower in connection with, arising out of,
    or in any way related to, this Agreement or any of the other Loan Documents, or any of the transactions contemplated by this Agreement or any of the other Loan Documents. Borrower hereby waives, releases, and agrees not to sue Lender or any of Lender’s
    affiliates, officers, directors, employees, attorneys, or agents for punitive damages in respect of any claim in connection with, arising out of, or in any way related to, this Agreement or any of the other loan Documents, or any of the transactions
    contemplated by this Agreement or any of the other loan Documents.

   

  17.      Participations. Lender shall have the right at any time and from time to time to grant participations in the Note and any other
    Loan Documents. Each participant shall be entitled to receive all information received by Lender regarding the creditworthiness of Borrower, including without limitation, information required to be disclosed to a participant to Banking Circular
    181(Rev. August 2, 1984), issued by the Comptroller of the Currency (whether the participant is subject to the circular or not).

   

  18.      Notices. All notices and other communications provided for in this Agreement and the other Loan Documents to which Borrower is a
    party shall be given or made in writing and mailed by certified mail return receipt requested, or delivered by hand or nationally recognized overnight delivery service to the intended recipient at the “Address for Notices” specified below its name on
    the signature pages hereof; or, as to any party at such other address as shall be designated by such party in a notice to the other party given in accordance with this Section. Except as otherwise provided in this Agreement, all such communications
    shall be deemed to have been duly given when personally delivered or, in the case of a notice transmitted by mail or overnight delivery service, when duly deposited in the mails or the day following delivery to such service, in each case given or
    addressed as aforesaid.

   

  19.      Entire Agreement. THIS AGREEMENT, THE NOTE, AND THE OTHER LOAN DOCUMENTS REFERRED TO HEREIN EMBODY THE FINAL, ENTIRE AGREEMENT
    AMONG THE PARTIES HERETO AND SUPERSEDE ANY AND ALL PRIOR COMMITMENTS, AGREEMENTS, REPRESENTATIONS, AND UNDERSTANDINGS, WHETHER WRITTEN OR ORAL, RELATING TO THE SUBJECT MATTER HEREOF AND MAY NOT BE CONTRADICTED OR VARIED BY EVIDENCE OF PRIOR,
    CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF THE PARTIES HERETO. THERE ARE NO ORAL AGREEMENTS AMONG THE PARTIES HERETO. The provisions of this Agreement and the other Loan Documents to which Borrower is a party may be amended or
    waived only by an instrument in writing signed by the parties hereto. The terms of this Agreement shall control to the extent of any direct conflict with the terms of the other Loan Documents; however, the parties acknowledge and agree that the other
    Loan Documents contain terms supplemental to the terms of this Agreement.

   

  20.      WAIVER OF JURY TRIAL. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, BORROWER HEREBY IRREVOCABLY AND EXPRESSLY WAIVES ALL
    RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM (WHETHER BASED UPON CONTRACT, TORT, OR OTHERWISE) ARISING OUT OF OR RELATING TO ANY OF THE LOAN DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED THEREBY OR THE ACTIONS OF LENDER IN THE
    NEGOTIATION, ADMINISTRATION, OR ENFORCEMENT THEREOF.

   

  21.      USA Patriot Act Notice. Lender hereby notifies Borrower that pursuant to the requirements of the USA Patriot Act (Title Ill of
    Pub.L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that identifies Borrower, which information includes the name and address of Borrower and
    other information that will allow such Lender to identify Borrower in accordance with the Act.

   

  22.      Special Provisions. The provisions set forth in Schedule C, if any, attached hereto, shall be incorporated herein
    for all purposes.

   

  Executed to be effective as of May 11, 2017.

   

  
    	
            LOAN AGREEMENT – #92993

          	
            Page 8

          

    

    

  

  
    
      
 

  

  	 	 	 	Very truly yours,	 
	Address for Notice:	 	 	 	 	 
	6900 Dallas Parkway, Suite 500	 	TECTONIC MERGER SUB, INC.,	 
	Plano, TX 75024	 	a Texas corporation	 
	Telephone:	 	 	 	 	 
	Attention:	A. Haag Sherman	 	 	 	 
	 	 	 	By:	 	 
	 	 	 	 	A. Haag Sherman, Director	 
	 	 	 	 	 	 
	16200 Dallas Parkway, Suite 190	 	T BANCSHARES, INC.,	 
	Dallas, TX 75248	 	a Texas corporation	 
	Telephone:	 	 	 	 	 
	Attention:	Pat Howard	 	 	/s/ Patrick Howard

        	 
	 	 	 	By:	Patrick Howard, President and CEO	 

   

  	Accepted and Agreed to:	 
	 	 	 
	TIB-THE INDEPENDENT BANKERSBANK	 
	 	 	 
	By:	/s/ Chad T. Golden

        	 
	 	Chad T. Golden	 
	 	Senior Vice President	 
	 	 	 
	Address for Notices:	 
	11701 Luna Road	 
	Farmers Branch, TX 75234	 
	Telephone: 

        	972-444-3522	 
	Attention:  

        	Robin Emerson	 

   

  
    	
            LOAN AGREEMENT – #92993

          	
            Signature  Page

          

    

    

  

  
    
      
 

  

  	 	 	 	Very truly yours,	 
	Address for Notice:	 	 	 	 	 
	6900 Dallas Parkway, Suite 500	 	TECTONIC MERGER SUB, INC.,	 
	Plano, TX 75024	 	a Texas corporation	 
	Telephone:	(713) 250-4210	 	 	 	 
	Attention:	A. Haag Sherman	 	 	 	 
	 	 	 	By:	/s/ A. Haag Sherman

        	 
	 	 	 	 	A. Haag Sherman, Director	 
	 	 	 	 	 	 
	16200 Dallas Parkway, Suite 190	 	T BANCSHARES, INC.,	 
	Dallas, TX 75248	 	a Texas corporation	 
	Telephone:	 	 	 	 	 
	Attention:	Pat Howard	 	 	 	 
	 	 	 	By:	Patrick Howard, President and CEO	 

   

  	Accepted and Agreed to:	 
	 	 	 
	TIB-THE INDEPENDENT BANKERSBANK	 
	 	 	 
	By:	 	 
	 	Chad T. Golden	 
	 	Senior Vice President	 
	 	 	 
	Address for Notices:	 
	11701 Luna Road	 
	Farmers Branch, TX 75234	 
	Telephone:

        	972-444-3522	 
	Attention:

        	Robin Emerson	 

   

  
    	
            LOAN AGREEMENT – #92993

          	
            Signature  Page

          

    

    

  

  
    
      
 

  

  SCHEDULE A 

   

  DEFINITIONS

   

  The terms defined herein shall have the following meanings for the purpose of this Agreement, and the singular shall include the plural, and vice versa, unless
    otherwise specifically required by the context:

   

  “Average Assets” means a year-to-date average of the average assets reported in the Report of Condition Schedule RC-K. Thus for the first quarter of
    the year the average assets from Call Schedule RC-K quarter will appear, while at the end-of-year, assets for all four quarters would be averaged.

   

  “Bank” means T Bank NA, a national banking association.

   

  “Book Value” means, at any time for any share of common stock of Bank, Bank’s Equity Capital divided by the total number of shares of common stock of
    Bank outstanding at such time.

   

  “Business Day” means any day on which commercial banks are not authorized or required to close in Farmers Branch, Dallas County, Texas.

   

  “Call Report” means Reports of Condition and Reports of Income of Bank as filed with the Federal Financial
    Institutions Examination Council.

   

  “Cash Flow” means, the summation of all net income after taxes, defined as the consolidated net income of the Borrower and all of its subsidiaries,
    plus interest expense of only the Borrower, less Preferred Stock Dividends, less 35% tax distribution on all Sub-S banks or income tax benefit on all C-Corp banks on an annualized basis.

   

  “Classified Assets” means, at any particular time, all assets of Bank classified as “Loss,” “Doubtful,” or “Substandard” or in any equivalent category
    by Bank or any governmental or regulatory authority.

   

  “Closing Date” means May 11, 2017.

   

  “Collateral” has the meaning specified in Section 3.

   

  “Common Equity Tier 1 Capital Ratio” means, at any particular time, the ratio of Common Equity Tier 1 Capital to Risk-Weighted Assets of the Bank
    determined in accordance with the Call Report Instructions.

   

  “Criticized Assets” means, at any particular time, all assets of the Bank classified as “Loss,” “Doubtful,” “Substandard,” or “other Assets Especially
    Mentioned,” or in any equivalent category by the Bank or any governmental or regulatory authority.

   

  “Current Maturities of Long-Term Debt” means interest expense and principal payments (if applicable) on Borrower’s debt with Lender, plus any principal
    and interest payments on Guarantor’s personal financial statement and/or credit bureau report (or the long-term debt of any entities for which Guarantor is advancing such payments), with respect to the indicated time period.

   

  “Debt” means as to any Person at any time (without duplication): (i) all obligations of such Person for borrowed money, (ii) all obligations of such
    Person evidenced by bonds, notes, debentures, or other similar instruments, (iii) all obligations of such Person to pay the deferred purchase price of property or services, except trade accounts payable of such Person arising in the ordinary course of
    business which are not past due by more than ninety (90) days unless such trade accounts payable are being contested in good faith by appropriate proceedings, (iv) all obligations of such Person under any lease which, in conformity with GAAP, is
    required to be capitalized for balance sheet purposes, (v) all obligations of such Person under guaranties, endorsements (other than for collection or deposit in the ordinary course of business), assumptions or other contingent obligations, in respect
    of, or to purchase or otherwise acquire, any obligation or indebtedness of any other Person, or any other obligation, contingent or otherwise, of such Person directly or indirectly protecting the holder of any obligation or indebtedness of any other
    Person against loss (whether by partnership arrangements, agreements to keep well, to purchase assets, goods, securities, or services, to take or pay or otherwise), (vi) all obligations secured by a Lien existing on property owned by such Person,
    whether or not the obligations secured thereby have been assumed by such Person or are non-recourse to the credit of such Person, (vii) reimbursement obligations of such Person (whether contingent or otherwise) in respect of letters of credit, bankers’
    acceptances, surety or other bonds and similar instruments, (viii) all liabilities of such Person in respect of unfunded vested benefits under any employee benefit plan of Borrower or any Subsidiary and (ix) all obligations under interest rate swap and
    similar hedging agreements.

   

  
    	
            LOAN AGREEMENT – 92993

          	
            Schedule A-1

          

    

    

  

  
    
      
 

  

  “Debt Service Coverage Ratio” means, at any particular time, the ratio of Borrower’s Cash Flow divided by Total Debt Service.

   

  “Equity Capital” means, at any particular time, the total equity capital of the Bank determined in accordance with the Instructions (the ‘‘Call
      Report Instructions”) to the Call Reports as most recently promulgated by the Federal Financial Institutions Examination Council.

   

  “Event of Default” has the meaning specified in Section 8.

   

  “GAAP” means generally accepted accounting principles, applied on a consistent basis, as set forth in Opinions of the Accounting Principles Board of
    the American Institute of Certified Public Accountants and/or in statements of the Financial Accounting Standards Board and/or their respective successors and which are applicable in the circumstances as of the date in question. Accounting principles
    are applied on a “consistent basis” when the accounting principles observed in a current period are comparable in all material respects to those accounting principles applied in a preceding period.

   

  “Grantor” means T Bancshares.

   

  “Guarantors” means the Persons identified on Schedule B as guarantying the Loan, if any.

   

  “Key Man Policy” means key man life insurance on the life of Pat Howard issued by a reputable insurance company in the minimum amount of $3,000,000.00,
    which shall be assigned to Lender as security for the Obligations and maintained in good standing, by punctual payment of the premiums due thereon. In the event of the death of the insured, Borrower will give prompt notice thereof to Lender and Lender
    will have the right, but not the obligation to collect and apply all or a portion of the proceeds of the Key Man Policy to the prepayment of the Obligations, together with accrued interest thereon.

   

  “Leverage Ratio” means, at any particular time, the ratio of Tier 1 Capital to Average Assets of the Bank determined in accordance with the Call
    Report Instructions.

   

  “Lien” means any lien, mortgage, security interest, tax lien, financing statement, pledge, charge, hypothecation, assignment,
    preference, priority, or other encumbrance of any kind or nature whatsoever (including, without limitation, any conditional sale or title retention agreement), whether arising by contract, operation of law, or otherwise.

   

  “Loan Documents” means this Agreement and all promissory notes, security agreements, pledge agreements, guaranties, and other instruments, documents,
    and agreements now or hereafter executed and delivered pursuant to or in connection with this Agreement and any future renewals, extensions, and amendments hereto or thereto.

   

  “Maximum Rate” means the maximum rate of nonusurious interest permitted from day to day by applicable law, including as to Chapter 303, Texas Finance
    Code, as amended from time to time (and as the same may be incorporated by reference in other Texas statutes), but otherwise without limitation, that rate based upon the “weekly rate ceiling” and calculated after taking into account any and all
    relevant fees, payments, and other charges in respect of the Loan Documents which are deemed to be interest under applicable law.

   

  “Net Income” means net income (loss) attributable to Bank, in accordance with the Call Report Instructions.

   

  “Non-Performing Assets” means loans on nonaccrual loans on which the interest rate has been reduced as troubled debt restructurings, loans which have
    been past due for ninety (90) days or more, and other real estate and other assets which are owned due to foreclosure or as a result of the exercise of legal remedies where such real estate or other assets were mortgaged or taken as security for loans.

   

  “Obligated Party” means Grantor, any Guarantor or other Person who is or becomes party to any agreement that guarantees or secures payment and
    performance of the Obligations or any part thereof.

   

  
    	
            LOAN AGREEMENT – 92993

          	
            Schedule A-2

          

    

    

  

  
    
      
 

  

  “Obligations” means all obligations, indebtedness, and liabilities of Borrower to Lender, now existing or hereafter arising, whether direct, indirect,
    related, unrelated, fixed, contingent, liquidated, unliquidated, including, without limitation, the obligations, indebtedness, and liabilities of Borrower under this Agreement, the Note, and the other Loan Documents, and all interest accruing thereon
    and all attorneys’ fees and other expenses incurred in the enforcement or collection thereof.

   

  “Person” means any individual, corporation, business trust, association, company, partnership, joint venture, or other entity.

   

  “Pledge Agreement” means the Commercial Pledge Agreement(s) of Borrower and/or Grantor in favor of Lender of even date herewith, as the same may be
    amended, supplemented, or modified.

   

  “Pledged Stock” has the meaning specified in Section 3(a).

   

  “Return on Average Assets” means, for the applicable reporting period, the ratio, expressed as a percentage, of Bank’s Net Income year-to-date
    annualized to Bank’s Average Assets determined at the end of the applicable period being analyzed.

   

  “Subsidiary” means any corporation or bank of which more than fifty percent (50%) of the issued and outstanding securities having ordinary voting
    power for the election of a majority of directors is owned or controlled, directly or indirectly, by Borrower, by Borrower and one or more other Subsidiaries, or by one or more other Subsidiaries.

   

  “Tangible Equity Capital” means Equity Capital less Goodwill and Other Intangible Assets of the Bank determined in accordance with the Call Report
    Instructions.

   

  “Tier 1 Capital” means, at any particular time, the Tier 1 Capital of the Bank determined in accordance with the Call Report Instructions.

   

  “Tier 1 Capital Ratio” means, at any particular time, the ratio of Tier 1 Capital to Risk-Weighted
    Assets of the Bank determined in accordance with the Call Report Instructions.

   

  “Total Assets” means, at any particular time, all amounts which, in conformity with GAAP, would be included as assets on a balance sheet of Bank
    determined in accordance with the Call Report Instructions.

   

  “Total Capital Ratio” means, at any particular time, the ratio of combined Tier 1 Capital and Tier 2 Capital to Risk-Weighted Assets of the Bank
    determined in accordance with the Call Report Instructions.

   

  “Total Debt Service” means, at any particular time, the summation of the contractually obligated amounts due based on the outstanding balance plus any
    requested advances on revolving lines of credit, advancing lines of credit and term notes at TIB plus other annual debt service from Trust Preferred subordinated debt, subordinated debts and all other miscellaneous debt service (to include all lines of
    credit and term debt with other financial institutions) on an annualized basis.

   

  “Total Loans” means, at any particular time, the gross amount of issued and unpaid credit extended by Bank, or as may be determined by the Call Report
    Instructions.

   

  Defined terms (i.e., terms delineated with capital letters) not otherwise defined herein shall be given the meanings commonly ascribed to them by the FFIEC,
    FDIC, state banking authorities or other authority, as reasonably determined by Lender.

   

  
    	
            LOAN AGREEMENT – 92993

          	
            Schedule A-3

          

    

    

  

  
    
      
 

  

  SCHEDULE C 

   

  SPECIAL PROVISIONS

   

  1.          Borrower shall assign or cause to be assigned to Lender as security for the Obligations the Key May Policy and all proceeds thereof,
    pursuant to an Assignment of Life Insurance Policy as Collateral in form and substance satisfactory to Lender and executed by the owner and beneficiary of the Key Man Policy.

   

  2.          Each Guarantor shall execute and deliver to Lender a Guaranty Agreement (collectively, the “Guaranty

        Agreements”) guaranteeing to Lender payment of the Obligations in form and substance satisfactory to Lender and limited to the respective principal amount set forth below plus all accrued
    interest, attorney fees and costs of collection.

   

  (a)          For each individual Person, as soon as available, and in any event within forty-five (45) days after the anniversary date of the
    previous financial statement of such Guarantor delivered to Lender, Borrower will cause to be provided to lender a copy of (i) an unaudited financial report of each of the Guarantors for the previous twelve (12) months, such report to include such
    Guarantor’s actual cash flow statement for such year, certified by the appropriate Guarantor, prepared in conformity with sound accounting principles consistently applied, and which fairly and accurately states each such Guarantor’s financial condition
    (including all assets, liabilities equity, and contingent liabilities), and (ii) a projected cash flow statement for such Guarantor for the forthcoming year. For each non-individual Person, as soon as available, and in any event within forty-five (45)
    days after the fiscal year end of such Guarantor delivered to Lender, Borrower will cause to be provided to Lender a copy of (iii) an unaudited financial report of each of the Guarantors for the previous twelve (12) months, such report to include such
    Guarantor’s actual financial information for such year, certified by the appropriate Guarantor, prepared in conformity with sound accounting principles consistently applied, and which fairly and accurately states each such Guarantor’s financial
    condition (including all assets, liabilities, equity, and income), and (iv) a projected cash flow statement for such Guarantor for the forthcoming year.

   

  	
          Guarantor

           

        	Principal Amount
	
          Tectonic Holdings, LLC

           

        	$12,000,000.00
	
          Tectonic Advisors, LLC

           

        	$12,000,000.00
	
          Sanders Morris Harris LLC

           

        	$12,000,000.00

     

   

   

  
    	
            LOAN AGREEMENT – 92993

          	
            Schedule C-1Exhibit 10.15

   

  TIB - THE INDEPENDENT BANKERSBANK

   

  GUARANTY AGREEMENT

  [SANDERS MORRIS HARRIS LLC]

  (Loan No. 92993)

   

  For and in consideration of the sum of Ten and No/100 Dollars ($10.00) and other good and valuable consideration in
    hand paid to the undersigned (“Guarantor”), the receipt and sufficiency of which consideration are hereby acknowledged, and for the purpose of enabling TECTONIC

      MERGER SUB, INC. and T BANCSHARES, INC. (together, the “Borrower”), to borrow certain funds from TIB - THE INDEPENDENT BANKERSBANK (“Holder”), and recognizing that Guarantor has benefitted or shall benefit, directly or indirectly, from the making of such loan from Holder to Borrower, that such loan is in
    the best interest of Guarantor, and that but for this Guaranty such loan would not be made by Holder to Borrower and the funds advanced thereunder, Guarantor hereby absolutely and unconditionally guarantees to Holder the prompt payment at maturity and
    the prompt performance when due of the following (individually, an “Obligation” and collectively, the “Obligations”): (i) all indebtedness and obligations of any kind of Borrower to Holder now
    outstanding or owing or which may hereafter be executed or incurred between Borrower and Holder including, without limitation, all indebtedness and obligations arising out of that certain Promissory Note dated of even date herewith, made by Borrower,
    payable to the order of Holder in the stated principal sum of $12,000,000.00 (the “Note”), including all principal, interest, charges and attorneys’ fees which may be or become due and owing on or under
    or in connection with the Note, and all renewals, rearrangements, extensions, modifications and consolidations thereof and of any part thereof and any sums due to or to become due pursuant to any instrument which secures the payment of the Note; (ii)
    all of the covenants, agreements and other obligations in all instruments securing the payment of the Obligations; and (iii) all costs, attorneys’ fees and expenses incurred or expended by Holder in collecting any of the Obligations or due to any
    default in the performance of the Obligations or in enforcing any right granted hereunder. Guarantor’s obligations hereunder shall further be subject to the terms and conditions hereinafter set forth.

   

  1.         Primary Liability. Guarantor shall be liable as a primary obligor for the payment and performance
    of the Obligations.

   

  2.         Payment. In each event whenever any of the Obligations shall become due and remain unpaid
    (howsoever the maturity thereof may have occurred), Guarantor will, on demand, pay the amount due thereon to Holder. All amounts becoming payable by Guarantor to Holder under this Guaranty shall be payable at Holder’s offices in Farmers Branch, Texas
    or such other place as Holder may from time to time designate. The payment by Guarantor of any amount pursuant to this Guaranty shall not in anywise entitle Guarantor to any right, title or interest (whether by way of subrogation or otherwise) in and
    to any of the Obligations or any proceeds thereof, or any security or collateral therefor, unless and until the full amount owing to Holder on the Obligations has been fully paid, but when the same has been fully paid, Guarantor shall be subrogated as
    to any payments made by it to the rights of Holder as against Borrower and/or any endorsers, sureties or other guarantors of the Obligations and to Holder’s security or collateral therefor.

   

  3.        Waiver of Notice. Guarantor specifically waives any notice of acceptance of this Guaranty by Holder
    and of the creation, advancement, existence, extension, renewal, modification, consolidation, or rearrangement from time to tine of the Obligations, or increase from time to time of the rate of interest thereon, or any indulgence from time to time with
    respect to the Obligations, or any part thereof. Guarantor additionally waives grace, demand, protest, presentment and notice of demand, protest, presentment and dishonor with respect to the Obligations, notice of intent to accelerate, notice of
    acceleration and notice of disposition of collateral and waives notice of the amount of the Obligations outstanding at any time, and agrees that the maturity of the Obligations, or any part thereof, may be accelerated, extended, modified, amended or
    renewed from time to time, or any other indulgence may be granted with respect thereto by Holder at its will or as may be agreed by Borrower without notice to or further consent by Guarantor, at any time or times. 

  

  

  SANDERS MORRIS HARRIS LLC GUARANTY - #92993 –Page 1 

  
    
      
 

  

  4.         Rights of Holder.

   

  a.         Guarantor agrees that no release of Borrower, any co-guarantor, or of any other person primarily or
    secondarily liable on the Obligations, or any part thereof shall in any manner impair, diminish or affect the liability of Guarantor or the rights of Holder hereunder, it being recognized, acknowledged, and agreed by Guarantor that Guarantor may be
    required to pay the Obligations in full without assistance or support of any other party, and Guarantor has not been induced to enter into this Guaranty Agreement on the basis of a contemplation, belief, understanding, or agreement that other parties
    will be liable to perform the Obligations, or that Holder will look to other parties to perform the Obligations.

   

  b.         Guarantor specifically agrees that it shall not be necessary or required, and that Guarantor shall not be entitled to
      require, that Holder mitigate damages, or file suit or proceed to obtain or assert a claim for personal judgment against Borrower for the Obligations from Borrower, or foreclose against or seek to realize upon any security or collateral now or
      hereafter existing for the Obligations, or file suit or proceed to obtain or assert a claim for personal judgment against any other party (whether maker, guarantor, endorser or surety) liable for the Obligations, or make any effort at collection of
      the Obligations from any such other party or exercise or assert any other right or remedy to which Holder is or may be entitled in connection with the Obligations or any security or collateral or other guaranty therefor, or assert or file any claim
      against the assets or estate of Borrower or any other guarantor or other person liable for the Obligations, or any party thereof, before or as a condition of enforcing the liability of Guarantor under this Guaranty or requiring payment of the
      Obligations by Guarantor hereunder, or at any time thereafter.

   

  c.         If any or all of the Obligations are now or hereafter secured in whole or in part, Guarantor agrees that Holder may,
      from time to time, at its discretion, and with or without valuable consideration, allow substitution, withdrawal, release, surrender, exchange, subordination, deterioration, waste, loss or other impairment of all or any part of such security or
      collateral, without notice to or consent by Guarantor, and without in anywise impairing, diminishing or releasing the liability of Guarantor hereunder.

   

  d.         The taking or accepting by Holder of any other security, collateral, guaranty, or other assurance of payment for all
      or any part of the Obligations shall not affect, reduce, impair or release Guarantor’s liability under this Guaranty.

   

  e.         No delay or omission or lack of diligence or care in exercising any right or power with respect to the Obligations or
      any security or collateral therefor (including without limitation the failure of Holder to perfect a security interest therein) or guaranty thereof or under this Guaranty shall in any manner impair, diminish or affect the liability of Guarantor or
      the rights of Holder hereunder. Guarantor expressly waives any right to the benefit of or to require or control application of any security or collateral or the proceeds of any security or collateral now existing or hereafter obtained by Holder as
      security for the Obligations, or any part thereof, and agrees that Holder shall have no duty insofar as Guarantor is concerned to apply to or upon any of the Obligations any monies, payments or other property at any time received by or paid to or in
      the possession of Holder, except in accordance with the Note and the documents securing it.

   

  f.         Guarantor’s liability hereunder shall in no manner be affected, reduced, impaired or released
      by reason of any renewal, extension, modification, consolidation, or rearrangement of or any other indulgence, forbearance or compromise with respect to the Obligations, or any part thereof; or increase in the principal amount thereof; or increase or
      reduction of the rate of interest thereon.

  

    SANDERS MORRIS HARRIS LLC GUARANTY - #92993 –Page 2

  
    
      
 

  

  g.         Guarantor waives all defenses given to sureties or guarantors at law or in equity other than actual
    payment of the indebtedness, and performance of the actions, constituting the Obligations. Guarantor absolutely and unconditionally covenants and agrees that if all or any part of the Obligations (or any instrument or agreement made or executed in
    connection therewith), or Borrower’s liability for the Obligations, is for any reason found to be invalid, illegal, unenforceable, uncollectible or legally impossible, for any reason whatsoever (including, without limiting the generality of the
    foregoing, upon the grounds that the payment and/or performance of the Obligations is ultra vires or otherwise without authority, may violate applicable usury laws, is subject to valid defenses, claims or offsets of Borrower, or any instrument
    evidencing any of the Obligations is forged or otherwise irregular); then in any such case Guarantor shall pay and perform the Obligations as herein provided and that no such occurrence shall in any way diminish or otherwise affect Guarantor’s
    obligations hereunder.

   

  h.         Guarantor agrees, to the full extent it may legally do so, that suit may be brought against Guarantor with or without
      making Borrower a party to such suit (as Holder may elect).

   

  i.        If the maturity of any Obligation is accelerated by bankruptcy or otherwise, then Guarantor’s liability for such
      Obligation under the terms of this Guaranty Agreement shall also be deemed accelerated and immediately due and owing without demand or notice to Guarantor. Guarantor shall, forthwith upon notice from Holder, pay to Holder the amount due and unpaid
      and guaranteed hereby. The failure of Holder to give this notice shall not in any way release Guarantor hereunder.

   

  j.          The fact that any collateral, security interest, or lien contemplated or intended to be given, created,
    or granted as security for the repayment of the Obligations is not properly perfected or created, or proves to be unenforceable or subordinate to any other security interest or lien, shall not affect, reduce, impair or release Guarantor’s liability
    hereunder, it being recognized and agreed by Guarantor that Guarantor is not entering into this Guaranty Agreement in reliance on, or in contemplation of the benefits of, the validity, enforceability, collectibility, or value of any of the collateral
    for the Obligations.

   

  k.         Guarantor waives any and all suretyship defenses with respect to material alteration of any agreement
    between Borrower and Holder.

   

  I.        Guarantor’s liability hereunder shall not be affected, reduced, impaired or released by any other action
    taken or omitted to be taken by Holder with respect to any Security Agreement, the Obligations, or the security and collateral therefor, whether or not such action or omission prejudices Guarantor or increases the likelihood that Guarantor will be
    required to pay the Obligations pursuant to the terms hereof.

   

  5.         Holder’s Expenses. If Guarantor fails to pay the Obligations after notice from Holder of Borrower’s failure to pay any Obligation at maturity, and if Holder obtains the
    services of an attorney for collection of amounts owing by Guarantor hereunder, or if suit is filed to enforce this Guaranty Agreement, or if proceedings are had in any bankruptcy, probate, receivership, or other judicial proceedings for the
    establishment or collection of any amount owing by Guarantor hereunder, or if any amount owing by Guarantor hereunder is collected through such proceedings, then Guarantor shall pay to Holder all court costs and Holder’s reasonable attorneys’ fees.

   

  6.         Change in Composition. Should the status, composition, structure or name of Borrower change, including, but not limited to, by reason of a merger, dissolution,
    consolidation, reorganization, or lack of power of Borrower or any party at any time liable for payment of all or part of the Obligations, this Guaranty shall continue and also cover the Obligations of Borrower under the new status, composition
    structure or name according to the terms hereof. If Borrower is a general or limited partnership, no termination of said partnership, nor withdrawal therefrom by, or termination of any ownership interest therein owned by, any general or limited partner
    of such partnership shall alter, limit or modify Guarantor’s obligations set forth in this Guaranty or otherwise affect this Guaranty in any manner whatsoever, all of which obligations of Guarantor shall remain in effect as herein written.

  

  

  SANDERS MORRIS HARRIS LLC GUARANTY -
      #92993 –Page 3 

  
    
      
 

  

  7.         Liability in the Event of Preference. In the event any payment of Borrower to Holder is held to constitute a preference under the bankruptcy laws, such payment by
    Borrower to Holder shall not constitute a release of Guarantor from any liability hereunder, but Guarantor agrees to pay such amount to Holder upon demand and this Guaranty shall continue to be effective or shall be reinstated, as the case may be, to
    the extent of any such payment or payments.

   

  8.         Joint and Several Liability. Unless the context clearly indicates otherwise, “Guarantor” shall mean the guarantor hereunder, or any of them, if more than one. The
    obligations of said guarantors hereunder, if more than one, shall be joint and several. Further, if there is more than one guarantor and they are executing multiple guaranties, Guarantor’s liability shall be joint and several with such other
    guarantors. Suit may be brought against said guarantors, jointly and severally, and against any one or more of them, or less than all, without impairing the rights of Holder against the others of said guarantors; and Holder may compromise with any one
    of said guarantors for such sums or sum as it may see fit and release such of said guarantors from all further liability to Holder for such indebtedness without impairing the right of Holder to demand and collect the balance of such indebtedness from
    others of said guarantors not so released; but it is agreed among said guarantors themselves, however, that such compromising and release shall not impair the rights and obligations of said guarantors as among themselves.

   

  9.         No Duty of Good Faith or Special Relationship. Guarantor acknowledges that Holder has no duty of good faith either to Borrower or Guarantor, and acknowledges that no
    special relationship, such as a fiduciary or trust relationship exists, between Holder and either of Borrower or Guarantor. Guarantor agrees that no such duty of good faith shall arise, and no such special relationship shall exist, unless pursuant to,
    and only to the extent set forth in, a written agreement that is signed by Holder and that expressly creates such duty of good faith or such special relationship.

   

  10.       Subrogation and Contribution. Until the Obligations are paid in full, Guarantor hereby waives and releases any and all rights of subrogation that Guarantor may have
    against Borrower, rights of contribution that Guarantor may have against any other guarantor of, or other person secondarily liable for the payment or performance of, any of the Obligations, or rights of reimbursement that Guarantor may have as against
    Borrower and agrees that any monies received by Guarantor under such rights in a bankruptcy of the Borrower shall be held in trust for, and immediately delivered to, Holder.

   

  11.       Assignment. This Guaranty is intended for and shall insure to the benefit of Holder and each and every other person who shall from time to time be or become the owner
    of holder of any of the Obligations, and each and every reference herein to “Holder” shall also include and refer to each and every successor or assignee of Holder at any time holding or owning any part of or interest in any part of the Obligations.
    This Guaranty shall be transferable by Holder, it being understood and stipulated that upon the assignment or transfer by Holder of any of the Obligations (or any part thereof or interest therein thus transferred or assigned by Holder), such transferee
    shall also, unless provided otherwise by Holder in its assignment, have and may exercise all the rights granted to Holder under this Guaranty to the extent of the part of or interest in the Obligations thus assigned or transferred to said person.
    Guarantor expressly waives notice of transfer or assignment of the Obligations, or any part thereof, or of the rights of Holder hereunder.

   

  12.       Notice. Any notice or demand to Guarantor hereunder or in connection herewith may be given and shall conclusively be deemed or considered to have been given and
    received upon the deposit thereof, in writing, in the U.S. Mail, certified, return receipt requested, duly stamped and addressed to Guarantor at the address of Guarantor shown below; but actual notice, however given or received, shall always be
    effective. The last preceding sentence shall not be construed in anywise to affect or impair any waiver of notice or demand herein provided or to require giving of notice or demand to or upon Guarantor in any situation for any reason.

   

  13.       Rights of Holder Cumulative. The rights of Holder hereunder are cumulative and shall not be
      exhausted by its exercise of any of its rights hereunder, under any prior guaranty or otherwise against Guarantor or by any number of successive actions until and unless
      all indebtedness constituting the Obligations has been paid and all other Obligations have been performed. The existence of this Guaranty shall not in any way diminish or discharge the rights of Holder under any prior guaranty agreement executed by
      Guarantor.

  

  

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  14.       Representations and Warranties by Guarantor. In order to induce Holder to make the loan evidenced by the Note, Guarantor represents and warrants to Holder (which
    representations and warranties will survive the termination and release of the Obligations and any extension of credit thereunder) that:

   

  a.         Guarantor’s guaranty pursuant to this Guaranty Agreement reasonably has benefitted or may be expected to
    benefit, directly or indirectly, Guarantor.

   

  b.         Guarantor is familiar with, and has independently reviewed books and records regarding, the financial
    condition of Borrower and is familiar with the value of any and all collateral intended to be created as security for the payment of the Note and other Obligations; however, Guarantor is not relying on such financial condition or the collateral as an
    inducement to enter into this Guaranty Agreement.

   

  c.         Neither Holder nor any other person, corporation, or entity has made any representation, warranty, or
    statement to Guarantor with regard to Borrower or its financial condition in order to induce Guarantor to execute this Guaranty Agreement.

   

  15.       Governing Law. This Guaranty shall be deemed to have been made under and shall be governed by the laws of the State of Texas in all respects.

   

  16.       Entire Agreement. Guarantor acknowledges and agrees that this Guaranty accurately represents and contains the entire agreement between Guarantor and Holder with respect
    to the subject matter hereof, that Guarantor is not relying, in the execution of this Guaranty, on any representations (whether written or oral) made by or on behalf of Holder except as expressly set forth in this Guaranty, and that any and all prior
    statements and/or representations made by or on behalf of Holder to Guarantor (whether written or oral) in connection with the subject matter hereof are merged herein. This Guaranty shall not be waived, altered, modified or amended as to any of its
    terms or provisions except in writing duly signed by Holder and Guarantor.

   

  17.       Successors or Assigns. This Guaranty shall bind the heirs, personal representatives, successors and assigns of Guarantor and shall inure to the benefit of all
    transferees, credit participants, assignees, and/or endorsees of Holder, notwithstanding that some or all of the monies owed by Guarantor pursuant to this Guaranty may be actually advanced after any bankruptcy, receivership, reorganization or death of
    Guarantor.

   

  18.       Interpretation. Headings are provided as a matter of convenience only and are not to be considered in interpreting the meaning of any provisions hereunder. The use of
    any gender herein shall include the other gender.

   

  19.       Severability. A determination that any provision of this Guaranty is unenforceable or invalid shall not affect the enforceability or validity of any other provision.

   

  20.       Waiver of Certain Laws. Guarantor hereby expressly waives the provisions of: (a) Chapter 43 of the Texas Civil Practice and Remedies Code, and (b) Rule 31 of the Texas
    Rules of Civil Procedure, to the extent such laws (or any them) are applicable to the Guaranty, or any other agreements or obligations of Guarantor to Holder.

   

  21.       Savings Provision. No provision herein, in the Note, or in any other promissory note, instrument or other loan document executed by Borrower or Guarantor evidencing the
    Obligations shall require the payment or permit the collection of interest in excess of the maximum permitted by law. If any excess of interest in such respect is provided in any such promissory note, instrument, or other loan document, the provisions
    of this paragraph shall govern, and neither Borrower nor Guarantor shall be obligated to pay the amount of such interest to the extent that it is in excess of the amount permitted by law, the intention of the parties being to conform strictly to the
    usury laws now in force or as may be amended from time to time. All promissory notes, instruments and other loan documents executed by Borrower or Guarantor evidencing the Obligations shall be held subject to reduction to the amount allowed under such
    usury laws as now or hereafter construed by the courts having jurisdiction. The terms and conditions of this paragraph 21 shall in no manner confer upon Guarantor any right, claim or cause of action against Holder of any nature whatsoever.

  

  

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  22.      Advice of Counsel. Guarantor acknowledges that Guarantor has had the benefit of the advice of legal counsel of its own choice in connection with the preparation and
    negotiation of this Guaranty, and has been afforded an opportunity to review this Guaranty with such legal counsel, and that Guarantor fully understands the implications and ramifications of the agreements herein made by Guarantor.

   

  EXECUTED effective as of May 11, 2017. 

   

   

  	Guarantor’s Address: 

        	GUARANTOR:
	 	 	 
	6900 N. Dallas Pkwy, Ste. 500 	SANDERS MORRIS HARRIS, LLC
	Plano, TX 75024	 	 
	 	By:	/s/ George L. Ball

        
	 	Name:	George L. Ball
	 	Title:	Chairman

   

  
    	THE STATE OF TEXAS	§
	 	 	§
	COUNTY OF	Harris	§

  

    

  This Guaranty Agreement was acknowledged before me on May 11, 2017, by George L. Ball, Chairman of SANDERS MORRIS
    HARRIS, LLC, on behalf of said entity.

   

  
    	 	
            /s/ Cinda R. Fitzpatrick

          
	 	Notary Public, State of Texas

  

   

  

  

  

  SANDERS MORRIS HARRIS, LLC GUARANTY - #92993 –Page 6

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