Document:

EX-10.1

 Exhibit 10.1 

 
 

 
 U.S. SMALL BUSINESS ADMINISTRATION

 OFFICE OF INVESTMENT & INNOVATION 

409 THIRD STREET, SW, SUITE 6300 

WASHINGTON, D.C. 20416 
 COMMITMENT LETTER 
 License No. 05/05-5134 

SEP 2 - 2014 
 Mr. Dean Pickerell 

Medallion Capital Inc. 
 3000 W. County Road 42,
Suite 301 
 Burnsville, MN 55337 

Dear Mr. Pickerell: 
 The Small Business
Administration (“SBA”) is hereby committing to reserve Leverage (as defined in Title 13 of the Code of Federal Regulations (“13 CFR”) 107.50) in the form of guaranteed Debentures in an amount equal to $10,000,000.00, to be
issued by Medallion Capital, Inc. (the “Company”) on or prior to September 30, 2018, subject to the terms and conditions set forth in this Commitment Letter and in 13 CFR 107.1200-1240. As used herein, terms which are defined in 13 CFR
Part 107 shall have the meanings assigned to them therein. 
 SBA may limit the amounts that may be drawn each year under this Commitment
Letter. Each issuance of Leverage under this Commitment Letter is conditioned upon the Company’s creditworthiness (as determined by SBA) and the Company’s full compliance (as determined by SBA) with each of the other terms and conditions
set forth in 13 CFR 107.1200-1240. 
 This Commitment Letter shall terminate automatically at 5:00 P.M. Eastern Time on September 30,2018. You
must pay to SBA a non-refundable leverage fee in the amount of $100,000.00 within thirty days of the date of this letter or prior to your first draw against this commitment, whichever occurs earlier. The remaining portion of the leverage fee,
in the amount of $200,000.00, will be deducted pro-rata as commitment proceeds are drawn. 
 By its acceptance of this Commitment Letter,
the Company agrees to pay, indemnify and hold SBA harmless from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever with respect
to or arising out of this Commitment Letter. 
 This Commitment Letter is subject to the provisions of Part 107 of Title 13 of the Code of
Federal Regulations, including without limitation 13 CFR 107.1200-1240, which are incorporated herein by reference. 

 This Commitment Letter has been issued in reliance upon the written representations and certifications made
by the Company to SBA in connection with its application for a commitment. This Commitment Letter shall be governed by, and construed in accordance with , federal law. 
 Two originals of this Commitment Letter are provided so that one may be retained by the Company and the other returned to this Office, Attention: Andrew Hogue. 

 

			
	U.S. Small Business Administration
		
	By:	 	/s/ Pravina Raghavan
		 	Pravina Raghavan
		 	 Deputy Associate Administrator
 for Investment & Innovation

  

			
	 Agreed and Accepted:
  

Medallion Capital, Inc.

		
	By:	 	/s/ Dean Pickerell
	Date:	 	9/9/14Filed by Avantafile.com - Strategic Internet Investments Inc. - Exhibit 10.1

Schedule

SALE AND PURCHASE AGREEMENT

THIS
  AGREEMENT is made
  this 3th day of November, 2014 by and between:

	 	
(1)  	
a. ARIS Foreign Trade and Construction Inc., a company organized and existing under the laws of the Turkey under registration number 99454 whose registered address is at [Abdullah Cevdet Street, Building 20, Cankaya, Ankara, Turkey] (hereinafter “Aris”);and 

	 	
b. Muzaffer Mithat Ataman  Turkish Citizen (Turkish National ID No: 31630007190)

	 	resident in [Abdullah Cevdet Street, Building 20, Cankaya, Ankara, Turkey],  representing     the retail owners through the official documents of  Power of Attorney issued by the retail owners in relation with the  retail registry numbers listed in Schedule 2.a, included  the retail units owned by himself, (hereinafter “Ataman”). 

	 	
c. PG Proje Geliştirme Gayrimenkul A.S., a joint stock Company organised and existing under the laws of Republic of Turkey, registered in Istanbul under registration number 883843, whose registered address is at [Akcaburgaz Mh. 99. Sk. Han Plaza No: 15/A Cakmakli, Esenyurt, Istanbul, TURKEY], (hereinafter “PG Company”)

	 	(hereinafter Aris and Ataman are jointly the 'First Party'); and

	 	(hereinafter Aris, Ataman and PG Company are jointly the 'Sellers'); and

(2)                  Strategic
  Internet Investments, Incorporated, a public company registered and incorporated in the State
  of Delaware, USA and having principle business office at address 24 First Avenue, P.O. Box 918,
  Kalispell, MT, 59903, (hereinafter
  “SIII” or the “Purchaser”)

WHEREAS the First Party declares that it is
  the owner, or where not the direct owner, represents the owners through Power
  of Attorney, of retail outlets in Turkey, namely the Akcenter Outlet and
  Shopping Center, Ankara, Turkey, as more particularly described in Schedule
    1 in which Registry numbers of the total Retail Unit 1 – 166 all included
  hereto (hereinafter the 'Property'); and

WHEREAS PG Company will, under this Agreement,
  accept title transfer of the Property and act as the Property’s registered
  Turkish owner and the local manager for the Project and will hold certain
  Convertible Securities of SIII, registered in its name and deposited into
  trust, for and on behalf of the Sellers. 

WHEREAS SIII is desirous of purchasing the
  Property of the First Party by either acquiring 100% of PG Company or 100% of
  the Property as more particularly described within this agreement. 

WHEREAS the Sellers intends to accept
  Convertible Securities of SIII as full payment of the Purchase Price for the
  Property as more particularly described with this agreement.

Whereas all
  parties to this Agreement 

IT IS
  HEREBY AGREED AS FOLLOWS:

1                     Definitions
  and Interpretation

1.1                 In this Agreement,
  the following expressions will have the following meanings:

'Agreement' means this Sale and Purchase
  Agreement.

‘Allowable Party’ means a shareholers of PG Company and/or other
  sophisticated and accredited investors introduced by the shareholders of PG
  Company or SIII. 

‘Completion Date' means the date, or dates if more than one, when the
  Purchaser takes possession of the Property from the First Party.

“Convertible Debenture Subscription
  Agreement” mean the Convertible Debenture Subscription Agreement entered into
  between SIII and the Sellers dated for references October ___, 2014 attached to
  the Agreement as Schedule 3.

“ Convertible Securities” means those
  convertible debenture securities to be issued pursuant to the Convertible
  Debenture Subscription Agreement,  by SIII into escrow for the benefit of the
  First Party as payment of the Purchase Price, as well as issued as deposits for
  services to be rendered by other parties that will enter into certain
  contracting management and renovation services for the Project, as outlined
  within this Agreement. 

'Effective Date' means the date of
  signature of this Agreement by the Parties and in the event of different dates,
  the date of the last signature.

'Encumbrance' means any mortgage, Charge,
  pledge, lien, assignment, Option, Restriction, Claim, right of pre-emption,
  right of first refusal, third party right or interest, other encumbrance or
  security interest of any kind.

‘Escrow Agreement’ means that agreement
  to be entered into with a mutually acceptable escrow agent, which escrow agent
  will administer the Convertible Security as per the instructions identified
  within Schedule 4 of this Agreement.

“POA” or “POA’s” means the Powers of
  Attorney, attached to this agreement as Schedule 2.b, issued by the retail
  owners in relation to the retail
  registry numbers of the Property as
  identified in Schedule 2a, appointing Ataman as their legal and irrevocable
  attorney with respect to the purchase of the Property as outlined within this
  agreement.

'Property' means the commercial and
  retail outlets more particularly described in Schedule 1 hereto.

'Purchase Price' means the appraised
  value of Euro 60,000,000  (Euro sixty million) to be paid by the Purchasers, with
  the Convertible Securities of SIII, as outlined below, 

“SierraReval
  Inc.” means the current Rental and Facilities Management Company for the
  Project.

1.2                 In this Agreement:

1.2.1            a reference to a person includes a natural
  person, partnership, body corporate, association, governmental or local
  authority or other entity;

1.2.2            the words including and include shall mean
  including without limitation and include without limitation, respectively;

1.2.3            a reference to a clause or schedule is a
  reference to a clause or schedule of or to this Agreement, and the schedules
  form part of this Agreement;

1.2.4            references to an individual or a natural
  person include his or her estate and personal representatives; and

1.2.5            references to a Party to this Agreement
  include the successors or assigns (immediate or otherwise) of that Party;

1.2.6            The headings in this Agreement do not
  affect its Interpretation.

2                     Transfer
  of Property

The First
  Party declares and warrants that it is the legal owners, or legally represents
  the legal owners, of the Property and agrees to sell all rights, title and
  interest in the Property, free from any Encumbrances, to the Purchasers for the
  Purchase Price as herein provided.

3                     Obligations of
  the Parties

3.1                 Obligations
  of the Sellers:

3.1.1            The First Party will
  forthwith upon the Effective Date provide evidence of ownership of the Property
  to the satisfaction of the Purchasers.

3.1.2            Forthwith, the First Party
  shall deliver the title deeds of the Property in a transferable form, free and
  clear of any and all encumbrances, to an Escrow Agent that will hold those
  title deeds in trust till such time as SIII delivers to the Escrow Agent the
  total amount of Convertible Debentures with deemed value equal to the Purchase
  Price, after which the Escrow Agent will immediately affect the transfer of the
  Property to PG Company and subsequently, the Escrow Agent will further
  administer the Convertible Debentures as outlined within Schedule 4

3.1.3             Forthwith upon transfer
  of the Property into the name of PG Company, PG Company shall become the
  Property manager and administer the business of the Property under the
  direction of PG Company’s management and board of directors, both of which will
  have representation of at least one member elected by SIII.

3.1.4  Upon the conversion of the
  Convertible Securities, by any Allowable Party, into common shares of SIII, PG
  Company shall transfer ownership of the Property free and clear of any and all
  encumbrances, either in part or in whole, into the name of a Turkish subsidiary
  of SIII to be formed for that purpose, if necessary.  If less than 100% of the
  Convertible Security is converted than that pro-rata percentage of the
  ownership that it attributable to the amount of Convertible Security converted
  shall be transferred to SIII. 

3.2                 Obligations of the
  Purchaser:

3.2.1     The Purchasers shall make full payment
  of the Purchase Price to the First Party by issuing the Convertible Securities,
  with a total deemed value equal to the Purchase Price, into the name of PG
  Company and the Convertible Securities shall be deposited into Escrow with a
  mutually acceptable Escrow Agent where the Escrow Agent will administer the
  Convertible Securities under an Escrow Agreement that will contain the terms
  identified within Schedule 4 of this Agreement.  It
  is the intent of the First Party that the Convertable Securities will either be
  held by the First Party for investment purposes or alternatively, some or all
  of the Convertable Securities may be purchased by an Allowable Party. 

3.2.2    In order induce Pivotek-Akun-Alpinsaat
  JV., (the “Renovation Contractor”) to commence and undertake the
  required renovation works of decoration , restoration and renovation of the
  Property, (the “Renovation Work”) according to the requirements defined
  by SierraReval Inc. and approved
  by the Purchaser and PG Company, the Purchasers shall issue Convertible
  Securities into the name of Renovation Contractor of deemed value of Euro 4,000,000 
    (Euro four million), hereinafter referred to as the “Renovation
      Deposit”.  The Renovation Deposit shall be deposited into an escrow trust
  with a mutually appointed Escrow Agent.    The Renovation Deposit will be
  released from escrow by the Escrow Agent on a schedule and under terms to be
  agreed upon by the Purchaser, PG Company and the Renovation Contractor.  The
  Renovation Work will be managed and directed by PG Company, represented by
  Erdal Yal ,Civil Eng. MSci.  .  PG Company and the Renovation Contractor shall
  operate under an industry standard FIDIC construction agreement normal for the
  works contemplated to be attached to this agreement as Schedule 5. 

3.2.3   In order to induce SierraReval Inc. to
  accept and undertake the Project management operations as defined in the Rental
  and Facilities Management Agreement “ the “RFM Agreement” , attached as
  Schedule 6 to this Agreement, the Purchaser shall issue
  Convertible Securities into the name of SierraReval Inc. with a deemed value of
  USD $1.350.000,00 (one-million-three-hundred-fifty-thousands American
  Dollars)(the “Management Deposit”),  into an escrow trust with a mutually appointed
  Escrow Agent.    The Management Deposit will be released from escrow by the
  Escrow Agent on a schedule to be agreed upon by the Purchaser, PG Company and
  SierraReval Inc.  The Management deposit
  shall be considered as a payment
  deposit for the fees of the
  rental and facilities management works and services of the first two years to
  SierraReval  Inc. and should SierraReval Inc. be paid in cash from the
  operations of the Project, then the Escrow Agent will have instruction not to
  release the Management Deposit to SierraReval and return, either in whole or in
  part on a pro-rata basis, the Convertible Securities to SIII for surrender to
  SIII’s treasury.      

4.0                 General

4.1                 Without prejudice to
  the respective obligations of the First Party and the Purchasers as herein
  provided, each Party will provide such reasonable assistance to the other as
  may be requested of it in order to carry out each Party's respective
  obligations under this Agreement.

4.2                 The First Party undertakes
  to the Purchasers that it will use its best endeavors to ensure that all
  necessary approvals and/or permissions are obtained from all concerned
  departments or agencies of government (whether local central or local
  government) in order that the Completion Dates as may be agreed between the
  Parties for the transfer of the Property may be adhered to.

4.3                 Forthwith upon the
  completion of the transfer of ownership of the Property by the First Party to
  the Purchaser, the Purchaser shall enter an agreement with SierraReval or other
  reputable Rental and Facilities Management Company for the management and
  rental of the Property.

4.4                 Rental income from
  the Property will be received by PG Company hereof be deposited in an operating
  account of PG Company, for so long as the Property remains registered in the
  name of PG Company.  The Net Profits after taxes (the “Net Profit”) generated
  form the Project operations will be deposited into the respective bank accounts
  of; the First Party as to 50% of the Net profit, PG Company as to 30% of the
  Net Profits and SIII as to 20 % of the Net Profits.  These percentages of Net
  Profits sharing shall adjust accordingly and be paid to SIII, on a pro-rata
  basis, from the date of any conversion of the Convertible Securities mandating
  Property ownership transferring to SIII, either in whole or in part.  Should
  any of the Sellers transfer ownership of their Convertible Securities, not
  involving a conversion of the Convertible Security, the pro-rata share of the
  Net Profits attributable to the portion of the Convertible Securities
  transferred will, after transfer of the Convertible Securities, be paid to the
  transferee. 

4.5                 Each Party undertakes at the request of the other
  Party, and at the cost of the requesting party, to do all acts and execute all
  documents which may be necessary to give effect to the meaning and intention of
  this Agreement.

5                     Entire
  Agreement

5.1                 This Agreement
  constitutes the entire agreement between the Parties in connection with its
  subject matter and supersedes all previous agreements and understandings
  between the Parties in connection with its subject matter.

6                     Governing
  Law and Jurisdiction

6.1                 The governing laws of
  the England & Wales and of the Republic of Turkey shall apply to this
  Agreement.

6.2                 Any dispute arising
  out of the formation, performance, Interpretation, nullification, termination
  or invalidation of this Agreement or arising there from or related thereto in
  any manner whatsoever, shall be settled by arbitration in accordance with the
  provisions set forth under of the Rules of the London Court of International
  Arbitration ('LCIA') by one or more arbitrators appointed in compliance with
  the Rules. The seat of Arbitration shall be London and the language used shall
  be the English Language. Any award of the arbitrators shall be final and
  binding.

AS WITNESS this Agreement of five pages has been
  entered into by the Parties (or their duly authorized representatives) on the
  Effective Date.

This
  agreement signed 1 copy and at Dubai  on the date of   03/11 /2014.

	Signed by:	Signed
      by:
	 	 
	SELLER:	              PURCHASERS:
	 	 
	ARIS Foreign Trade and Construction
      Inc.	                Strategic
      Internet Investments, Incorporated
	 	 
	Signed by “Muzaffer Mithat Ataman”    	Signed
      by “Abbas Salih”
	______________________________________________	              Abbas Salih, President
	Managing Director	 

(Schedules
  available with entire Agreement at Company Website – See address in body of 8K)

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