Document:

Exhibit 10.4

  

Execution Version

 

REVOLVING CREDIT NOTE

 

	$50,000,000	August 20, 2021

 

This Revolving Credit Note
(this “Note”) is executed and delivered under and pursuant to the terms of that certain Revolving Credit and Security
Agreement dated as of August 20, 2021 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”) by and among NEWEGG COMMERCE, INC., a business company incorporated with limited liability under the laws of the
British Virgin Islands (“Newegg Commerce”), NEWEGG INC., a Delaware corporation (“Newegg”), NEWEGG
NORTH AMERICA INC., a Delaware corporation (“Newegg NorAm”), NEWEGG.COM AMERICAS INC., a Delaware corporation (“Newegg
Americas”), NEWEGG CANADA INC., an Ontario corporation (“Newegg Canada”), MAGNELL ASSOCIATE, INC., a California
corporation (“Magnell”), ROSEWILL INC., a Delaware corporation (“Rosewill”), NEWEGG BUSINESS INC.,
a Delaware corporation (“Newegg Biz”), OZZO INC., a Delaware corporation (“Ozzo”), NEWEGG STAFFING
INC., a Delaware corporation (“Newegg Staffing”), INOPC, INC., an Indiana corporation (“INOPC”),
CAOPC, INC., a California corporation (“CAOPC “), NJOPC, INC., a New Jersey corporation (“NJOPC”),
NEWEGG LOGISTICS SERVICES INC., a Delaware corporation (“Newegg Logistics “) NUTREND AUTOMOTIVE, INC., a Delaware corporation
(“Nutrend”), NEWEGG TEXAS, INC., a Texas corporation (“Newegg Texas”) and NEWEGG FACILITY SOLUTIONS,
INC., a Delaware corporation (“Newegg Facility”) (Newegg Commerce, Newegg, Newegg NorAm, Newegg Americas, Newegg Canada,
Magnell, Rosewill, Newegg Biz, Ozzo, Newegg Staffing, INOPC, CAOPC, NJOPC, Newegg Logistics, Nutrend, Newegg Texas, Newegg Facility and
each Person joined thereto as a borrower from time to time, jointly and severally, collectively, “Borrowers,” and each,
a “Borrower”) the financial institutions named therein or which hereafter become a party thereto, (the “Lenders”)
and EAST WEST BANK, a California banking corporation, as Administrative Agent, Collateral Agent, Sole Arranger and Book Runner. Capitalized
terms not otherwise defined herein shall have the meanings provided in the Credit Agreement.

 

FOR VALUE RECEIVED, the Borrowers
hereby, jointly and severally, promise to pay to the order of East West Bank (“Holder”), at the Payment Office:

 

(i) the
principal sum of FIFTY MILLION DOLLARS ($50,000,000) or, if different from such amount, the unpaid principal balance of Holder’s
Revolving Commitment Percentage of the Revolving Advances as may be due and owing under the Credit Agreement, payable in accordance with
the provisions of the Credit Agreement, subject to acceleration upon the occurrence of an Event of Default under the Credit Agreement
or earlier termination of the Credit Agreement pursuant to the terms thereof; and

 

(ii) interest
on the principal amount of this Note from time to time outstanding until such principal amount is paid in full at the applicable Revolving
Interest Rate in accordance with the provisions of the Credit Agreement. In no event, however, shall interest exceed the maximum interest
rate permitted by Applicable Law. Upon and after the occurrence of an Event of Default, and during the continuation thereof, interest
shall be payable at the Default Rate.

 

     

     

    

 

This Note is a Revolving Credit
Note referred to in the Credit Agreement and is secured, inter alia, by the Liens granted pursuant to the Credit Agreement and
the Other Documents, is entitled to the benefits of the Credit Agreement and the Other Documents and is subject to all of the agreements,
terms and conditions therein contained.

 

This Note is subject to mandatory
prepayment and may be voluntarily prepaid, in whole or in part, on the terms and conditions set forth in the Credit Agreement.

 

If an Event of Default under
Section 10.7 of the Credit Agreement shall occur, then this Note shall become immediately due and payable as more particularly set forth
in the Credit Agreement, together with reasonable attorneys’ fees if the collection hereof is placed in the hands of an attorney
to obtain or enforce payment hereof. If any other Event of Default shall occur under the Credit Agreement or any of the Other Documents,
which is not cured within any applicable grace period, then this Note may, as provided in the Credit Agreement, be declared to be immediately
due and payable, without notice, together with reasonable attorneys’ fees, if the collection hereof is placed in the hands of an
attorney to obtain or enforce payment hereof.

 

This Note shall, in accordance
with Section 5-1401 of the General Obligations Law of the State of New York, be construed and enforced in accordance with the laws of
the State of New York.

 

Each Borrower expressly waives
any presentment, demand, protest, notice of protest, or notice of any kind except as expressly provided in the Credit Agreement.

 

[Signature Pages Follow]

 

    2

    

    

 

IN WITNESS WHEREOF, this Note has been executed and delivered
as of the date first written above.

 

	 	BORROWERS:
	 	 	 
	 	NEWEGG COMMERCE, INC.,
	 	a British Virgin Islands business company
	 	incorporated with limited liability
	 	 	 
	 	By:	/s/ Anthony Chow
	 	Name: 	Anthony Chow
	 	Title :	Chief Executive Officer
	 	 	 
	 	NEWEGG INC.,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/ Anthony Chow
	 	Name:	Anthony Chow
	 	Title:	Chief Executive Officer
	 	 	 
	 	NEWEGG NORTH AMERICA INC.,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title:	Chief Financial Officer
	 	 	 
	 	NEWEGG.COM AMERICAS INC.,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title:	Chief Financial Officer
	 	 	 
	 	NEWEGG CANADA INC.,
	 	an Ontario corporation
	 	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name: 	Yueh-Pai “Robert” Chang
	 	Title:	Chief Financial Officer

 

Signature Page to Revolving Credit Note - EWB

 

     

    

    

 

	 	MAGNELL ASSOCIATE, INC.,  
	 	a California corporation  
	 	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title:	Chief Financial Officer
	 	 	 
	 	ROSEWILL INC.,  
	 	a Delaware corporation  
	 	 
	 	By:	/s/  Yueh-Pai “Robert” Chang
	 	Name: 	Yueh-Pai “Robert” Chang
	 	Title :	Chief Financial Officer
	 	 	 
	 	NEWEGG BUSINESS INC.,  
	 	a Delaware corporation  
	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title :	Chief Financial Officer
	 	 	 
	 	OZZO INC.,  
	 	a Delaware corporation  
	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name: 	Yueh-Pai “Robert” Chang
	 	Title:	Chief Financial Officer
	 	 	 
	 	NEWEGG STAFFING INC.,  
	 	a Delaware corporation  
	 	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang 
	 	Title:	Chief Financial Officer

 

Signature Page to Revolving Credit Note - EWB

 

     

     

    

 

	 	INOPC, INC.,  
	 	an Indiana corporation  
	 	 	 
	 	By:	/s/ Yueh-Pai
    “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title :	Chief Financial Officer
	 	 	 
	 	CAOPC, INC.,  
	 	a California corporation  
	 	 	 
	 	By:	/s/ Yueh-Pai
    “Robert” Chang
	 	Name: 	Yueh-Pai “Robert” Chang
	 	Title :	Chief Financial Officer
	 	 	 
	 	NJOPC, INC.,  
	 	a New Jersey corporation  
	 	 	 
	 	By:	/s/ Yueh-Pai
    “Robert” Chang
	 	Name: 	Yueh-Pai “Robert” Chang
	 	Title:	Chief Financial Officer
	 	 	 
	 	NEWEGG LOGISTICS SERVICES INC.,  
	 	a Delaware corporation  
	 	 	 
	 	By:	/s/ Yueh-Pai
    “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title:	Chief Financial Officer
	 	 	 
	 	NEWEGG FACILITY SOLUTIONS, INC.,  
	 	a Delaware corporation  
	 	 	 
	 	By:	/s/ Yueh-Pai
    “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title:	Chief Financial Officer

 

Signature Page to Revolving Credit Note - EWB

 

     

     

    

 	 	NEWEGG TEXAS, INC.,
	 	a Texas corporation      
	 	 	 
	 	By:	 /s/
    Yueh-Pai “Robert” Chang    
	 	Name:	Yueh-Pai “Robert” Chang    
	 	Title:	Chief Financial Officer    
	 	 	 
	 	NUTREND AUTOMOTIVE INC.,
	 	a Delaware corporation      
	 	 
	 	By:	/s/ Yueh-Pai
    “Robert” Chang
	 	Name: 	Yueh-Pai “Robert” Chang    
	 	Title:	Chief Financial Officer

 

Signature Page to Revolving Credit Note - EWBExhibit 10.5

 

Execution Version

 

SWING LOAN NOTE

 

	$20,000,000	August 20, 2021

 

This Swing Loan Note (this
“Note”) is executed and delivered under and pursuant to the terms of that certain Revolving Credit and Security Agreement
dated as of August 20, 2021 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”)
by and among NEWEGG COMMERCE, INC., a business company incorporated with limited liability under the laws of the British Virgin Islands
(“Newegg Commerce”), NEWEGG INC., a Delaware corporation (“Newegg”), NEWEGG NORTH AMERICA INC.,
a Delaware corporation (“Newegg NorAm”), NEWEGG.COM AMERICAS INC., a Delaware corporation (“Newegg Americas”),
NEWEGG CANADA INC., an Ontario corporation (“Newegg Canada”), MAGNELL ASSOCIATE, INC., a California corporation (“Magnell”),
ROSEWILL INC., a Delaware corporation (“Rosewill”), NEWEGG BUSINESS INC., a Delaware corporation (“Newegg
Biz”), OZZO INC., a Delaware corporation (“Ozzo”), NEWEGG STAFFING INC., a Delaware corporation (“Newegg
Staffing”), INOPC, INC., an Indiana corporation (“INOPC”), CAOPC, INC., a California corporation (“CAOPC
”), NJOPC, INC., a New Jersey corporation (“NJOPC”), NEWEGG LOGISTICS SERVICES INC., a Delaware corporation (“Newegg
Logistics “), NUTREND AUTOMOTIVE, INC., a Delaware corporation (“Nutrend”), NEWEGG TEXAS, INC., a Texas corporation
(“Newegg Texas”) and NEWEGG FACILITY SOLUTIONS, INC., a Delaware corporation (“Newegg Facility”)
(Newegg Commerce, Newegg, Newegg NorAm, Newegg Americas, Newegg Canada, Magnell, Rosewill, Newegg Biz, Ozzo, Newegg Staffing, INOPC, CAOPC,
NJOPC, Newegg Logistics, Nutrend, Newegg Texas, Newegg Facility and each Person joined thereto as a borrower from time to time, jointly
and severally, collectively, “Borrowers,” and each, a “Borrower”) the financial institutions named
therein or which hereafter become a party thereto, (the “Lenders”) and EAST WEST BANK, a California banking corporation,
as Administrative Agent, Collateral Agent, Sole Arranger and Book Runner. Capitalized terms not otherwise defined herein shall have the
meanings provided in the Credit Agreement.

 

FOR VALUE RECEIVED, the Borrowers
hereby, jointly and severally, promise to pay to the order of Swing Loan Lender (“Holder”), at the Payment Office:

 

(i) the
principal sum of TWENTY MILLION DOLLARS ($20,000,000) or, if different from such amount, the unpaid principal balance of Holder’s
Swing Loans as may be due and owing under the Credit Agreement, payable in accordance with the provisions of the Credit Agreement, subject
to acceleration upon the occurrence of an Event of Default under the Credit Agreement or earlier termination of the Credit Agreement pursuant
to the terms thereof; and

 

(ii) interest
on the principal amount of this Note from time to time outstanding until such principal amount is paid in full at the applicable Revolving
Interest Rate in accordance with the provisions of the Credit Agreement. In no event, however, shall interest exceed the maximum interest
rate permitted by Applicable Law. Upon and after the occurrence of an Event of Default, and during the continuation thereof, interest
shall be payable at the Default Rate.

 

     

     

    

 

This Note is a Swing Loan
Note referred to in the Credit Agreement and is secured, inter alia, by the Liens granted pursuant to the Credit Agreement and
the Other Documents, is entitled to the benefits of the Credit Agreement and the Other Documents and is subject to all of the agreements,
terms and conditions therein contained.

 

This Note is subject to mandatory
prepayment and may be voluntarily prepaid, in whole or in part, on the terms and conditions set forth in the Credit Agreement.

 

If an Event of Default under
Section 10.7 of the Credit Agreement shall occur, then this Note shall become immediately due and payable as more particularly set forth
in the Credit Agreement, together with reasonable attorneys’ fees if the collection hereof is placed in the hands of an attorney
to obtain or enforce payment hereof. If any other Event of Default shall occur under the Credit Agreement or any of the Other Documents,
which is not cured within any applicable grace period, then this Note may, as provided in the Credit Agreement, be declared to be immediately
due and payable, without notice, together with reasonable attorneys’ fees, if the collection hereof is placed in the hands of an
attorney to obtain or enforce payment hereof.

 

This Note shall, in accordance
with Section 5-1401 of the General Obligations Law of the State of New York, be construed and enforced in accordance with the laws of
the State of New York.

 

Each Borrower expressly waives
any presentment, demand, protest, notice of protest, or notice of any kind except as expressly provided in the Credit Agreement.

 

[Signature Pages Follow]

 

    2

     

    

 

IN WITNESS WHEREOF, this Note has been executed
and delivered as of the date first written above.

 

	 	BORROWERS:
	 	 
	 	NEWEGG COMMERCE, INC.,
	 	a British Virgin Islands business company
	 	incorporated with limited liability
	 	 	 
	 	By:	/s/ Anthony Chow
	 	Name: 	Anthony Chow
	 	Title:	Chief Executive Officer
	 	 	 
	 	NEWEGG INC.,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/ Anthony Chow
	 	Name:	Anthony Chow
	 	Title:	Chief Executive Officer
	 	 	 
	 	NEWEGG NORTH AMERICA INC.,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/ Yueh-Pai
    “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title:	Chief Financial Officer
	 	 	 
	 	NEWEGG.COM AMERICAS INC.,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title:	Chief Financial Officer
	 	 	 
	 	NEWEGG CANADA INC.,
	 	an Ontario corporation
	 	 	 
	 	By:	/s/ Yueh-Pai
    “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title:	Chief Financial Officer

 

Signature Page to Swing Loan Note

 

     

     

    

 

	 	MAGNELL ASSOCIATE, INC.,
	 	a California corporation
	 	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name: 	Yueh-Pai “Robert” Chang
	 	Title :	Chief Financial Officer
	 	 	 
	 	ROSEWILL INC.,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title:	Chief Financial Officer
	 	 	 
	 	NEWEGG BUSINESS INC.,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title :	Chief Financial Officer
	 	 	 
	 	OZZO INC.,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title:	Chief Financial Officer
	 	 	 
	 	NEWEGG STAFFING INC.,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title:	Chief Financial Officer

 

Signature Page to Swing Loan Note

 

     

     

    

 

	 	INOPC, INC.,
	 	an Indiana corporation
	 	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name:  	Yueh-Pai “Robert” Chang
	 	Title :	Chief Financial Officer
	 	 	 
	 	CAOPC, INC.,
	 	a California corporation
	 	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title:	Chief Financial Officer
	 	 	 
	 	NJOPC, INC.,
	 	a New Jersey corporation
	 	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title :	Chief Financial Officer
	 	 	 
	 	NEWEGG LOGISTICS SERVICES INC.,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title :	Chief Financial Officer
	 	 	 
	 	NEWEGG FACILITY SOLUTIONS INC.,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title :	Chief Financial Officer

 

Signature Page to Swing Loan Note

 

     

     

    

 

	 	NEWEGG TEXAS, INC.,
	 	a Texas corporation
	 	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title:	Chief Financial Officer
	 	 	 
	 	NUTREND AUTOMOTIVE INC.,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/ Yueh-Pai “Robert” Chang
	 	Name:	Yueh-Pai “Robert” Chang
	 	Title :	Chief Financial Officer

 

Signature Page to Swing Loan Note

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}]]