Document:

Exhibit 10.32

 

Execution Version

 

AMENDMENT TO AMENDMENT NO.
5 TO LOAN AGREEMENT

 

This Amendment
to Amendment No. 5 (as defined below), dated as of February 12, 2021 (this “Amendment”), is made by and between
SoftBank Group Capital Limited (formerly known as SoftBank Group International Limited), a company organized under the laws of
England and Wales (the “Lender”), and Airspan Networks Inc., a Delaware corporation (the “Borrower”).

 

RECITALS

 

WHEREAS,
the Lender and the Borrower have entered into that certain Term Loan Agreement, dated as of February 9, 2016, as amended by that
certain Amendment No. 1 to Loan Agreement dated as of July 12, 2016, as further amended by that certain Amendment No. 2 to Loan
Agreement dated as of July 3, 2017, as further amended by that certain Amendment No. 3 to Loan Agreement dated as of May 23, 2019,
as further amended by that certain Amendment No. 4 to Loan Agreement dated as of March 30, 2020, and as further amended by that
certain Amendment No. 5 to Loan Agreement dated as of December 30, 2020 (the “Amendment No. 5”) (as so amended,
and as further amended, restated, supplemented, or otherwise modified from time to time, the “Loan Agreement”),
providing for a loan in an aggregate original principal amount equal to US$30,000,000 from the Lender to the Borrower.

 

WHEREAS,
the parties hereto desire to amend Amendment No. 5 on the terms and subject to the conditions set forth herein.

 

NOW, THEREFORE,
for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged by each of the parties hereto, the
parties hereto, intending to be legally bound, do hereby agree as follows:

 

Section
1. Definitions. All capitalized terms used in this Amendment (including in the recitals hereof) and not otherwise defined herein
shall have the meanings assigned to them in the Loan Agreement.

 

Section
2. Amendment. Section 4 of Amendment No. 5 is hereby amended by deleting the reference to “forty five (45) days”
in the fourth line thereof and replacing it with “sixty (60) days”.

 

Section 3.Representations and Warranties;
Reaffirmation.

 

		(a)	The Borrower hereby represents and warrants to the Lender as follows:

 

(1) This
Amendment has been duly authorized, executed and delivered by the Borrower and constitutes the legal, valid and binding agreement
of the Borrower, enforceable in accordance with its terms (subject, as to enforcement, to (x) the effect of applicable bankruptcy,
insolvency, examinership or similar laws affecting the enforcement or creditors’ rights and (y) general principles of equity).
The execution, delivery and performance by the Borrower of this Amendment is within the Borrower’s powers.

 

     

     

    

 

(2) The
execution, delivery and performance by the Borrower of this Agreement do not (i) conflict with any of the Borrower’s
organizational, constitutional or constituent documents; (ii) contravene, conflict with, constitute a default under or
violate any Law; (iii) contravene, conflict or violate any applicable order, writ, judgment, injunction, decree,
determination or award of any Government Agency by which the Borrower or any of its property or assets may be bound or
affected; (iv) require any action by, filing, registration, or qualification with, or permit from, any Government Agency; or
(v) constitute a default under or conflict with any material agreement to which the Borrower is bound.

 

(3) No
Event of Default under the Loan Agreement has occurred and is continuing or will result after giving effect to this Amendment.

 

(b) The
Borrower hereby ratifies, confirms, reaffirms, and acknowledges its obligations under the Loan Agreement and agrees that the Loan
Agreement remains in full force and effect, undiminished by this Amendment, except as expressly provided herein. By executing this
Amendment, the Borrower acknowledges that it has read, consulted with its attorneys regarding, and understands, this Amendment.

 

Section 4.CHOICE OF LAW AND JURY TRIAL WAIVER

 

(a) THIS
AMENDMENT AND THE RIGHTS, REMEDIES AND OBLIGATIONS OF
THE PARTIES HERETO, AND ANY CLAIM, CONTROVERSY OR DISPUTE
ARISING UNDER OR RELATED TO THIS AMENDMENT, THE RELATIONSHIP
OF THE PARTIES, AND/OR THE INTERPRETATION AND ENFORCEMENT
OF THE RIGHTS AND DUTIES OF THE PARTIES AND ALL OTHER MATTERS RELATING HERETO OR ARISING THEREFROM (WHETHER
SOUNDING IN CONTRACT LAW, TORT LAW OR OTHERWISE), SHALL
BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK,
WITHOUT REGARD TO ITS PRINCIPLES OF CONFLICT OF LAWS.

 

(b) TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE BORROWER,
AND THE LENDER EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION
ARISING OUT OF OR BASED UPON THIS AMENDMENT, INCLUDING
CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER
CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR THE PARTIES TO ENTER INTO THIS AMENDMENT.
EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL.

 

Section 5.Miscellaneous.

 

(a) Severability
of Provisions. Each provision of this Amendment is severable from every other provision in determining the enforceability of
any provision.

 

(b) Integration.
This Amendment and the Loan Agreement represent the entire agreement about this subject matter and supersede prior negotiations
or agreements. All prior agreements, understandings, representations, warranties, and negotiations among the parties about the
subject matter of this Amendment and the Loan Agreement merge into this Amendment and the Loan Agreement.

 

(c) Counterparts.
This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which,
when executed and delivered, is an original, and all taken together, constitute one Agreement. Delivery of an executed signature
page of this Amendment by facsimile transmission or electronic transmission shall be as effective as delivery of a manually executed
counterpart hereof.

 

(d) No
Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of this Amendment. In the
event an ambiguity or question of intent or interpretation arises, this Amendment shall be construed as if drafted jointly by the
parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship
of any provisions of this Amendment.

 

[signatures to follow]

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IN WITNESS WHEREOF, the parties
hereto have caused this Amendment to be executed as of the date first above written.

 

	 	LENDER:
	 	 	 
	 	SOFTBANK GROUP CAPITAL LIMITED
	 	 	 
	 	By:	/s/ Michel Combes
	 	Name: 	Michel Combes
	 	Title:	Director

 

Signature Page to Amendment to Amendment
No. 5

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment
to be executed as of the date first above written.

 

	 	BORROWER:
	 	 	 
	 	AIRSPAN NETWORKS INC.
	 	 	 
	 	By:	/s/ David Brant
	 	Name: 	David Brant
	 	Title:	CFO

 

Signature Page to Amendment to Amendment
No. 5Exhibit 10.33

 

EXECUTION VERSION

 

IRREVOCABLE PROXY AND POWER OF ATTORNEY

 

This IRREVOCABLE
PROXY AND POWER OF ATTORNEY (this “Proxy Agreement”) is entered into as of March 8, 2021, by and among
SoftBank Group Capital Limited, a private limited company incorporated in England and Wales (“SBGC”), and New
Beginnings Acquisition Corp., a Delaware corporation (the “Parent”). Each of SBGC and Parent may hereinafter
be referred to as a “Party” and collectively as the “Parties”. Reference is made to
the Business Combination Agreement (the “BCA”), dated as of March 8, 2021, by and among Airspan Networks Inc.
(the “Company”), Parent and Artemis Merger Sub Corp., a Delaware corporation, as well as the Stockholders Agreement,
by and among Parent and the stockholders party thereto, including SBGC, to be executed simultaneous with the consummation of the transactions
contemplated by the BCA (the “Stockholders Agreement”). SBGC and its respective affiliates are collectively
referred to herein collectively as “SoftBank”.

 

WHEREAS, SBGC is currently
the holder of certain shares of equity securities of the Company, and pursuant to, and at the closing of, the transactions contemplated
by the BCA, such shares of equity securities will be converted into the right to receive shares of Common Stock, $0.0001 par value per
share, of Parent (the “Shares”);

 

WHEREAS, SBGC desires
to grant to the Proxyholder a proxy and undertaking in respect of the voting rights attached to certain of the Shares; and

 

WHEREAS, the Board
of Directors of Parent (or a duly authorized committee thereof) has approved this Proxy Agreement, the designation of the Secretary of
Parent as the Proxyholder and the transactions contemplated hereby.

 

NOW, THEREFORE, for
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree to and authorize
the following.

 

1. Grant
of Proxy and Power of Attorney.

 

(a) SBGC
hereby irrevocably appoints, authorizes and empowers the Secretary of Parent (the “Proxyholder”), with full
power of substitution and resubstitution (subject to SBGC’s approval in each case), as SBGC’s exclusive attorney-in-fact and
proxy, on behalf of SBGC and in its stead, to vote and otherwise exercise all voting and voting-related rights (to the fullest extent
that SBGC otherwise would be entitled or eligible) with respect to the Subject Shares (as defined below) in any vote, consent, election,
waiver or other action of Parent’s stockholders, whether under applicable law, Parent’s Amended and Restated Certificate of
Incorporation, as may be amended and/or restated from time to time (the “Charter”), Parent’s bylaws, the
Stockholders Agreement or any other agreements among Parent and its stockholders or otherwise (each, a “Stockholder Vote”)
(including, without limitation, the power to execute and deliver written consents pursuant to Section 228 of the Delaware General Corporation
Law), in the same manner as if SBGC was personally acting on any such matter. For the avoidance of doubt, SBGC shall retain all economic
and other non-voting-related rights in the Subject Shares. For purposes of this Proxy Agreement, and with respect to each Stockholder
Vote, (x) the “SB Retained Shares” shall mean, at the applicable record date for the relevant Stockholder Vote,
such Shares that represent up to and including 9.90% of the voting power of the issued and outstanding shares of Parent entitled to vote
in such Stockholder Vote, and (y) the “Subject Shares” shall mean any and all Shares other than the SB Retained
Shares.

 

(b) Within
three (3) business days of SoftBank’s receipt of any written request from Parent for a Stockholder Vote, Parent shall, with respect
to each such Stockholder Vote: (i) notify SoftBank in writing of (x) the total number of shares that are issued and outstanding as of
the applicable record date in the applicable class and/or series of Parent stock for which such Stockholder Vote is sought or solicited
and (y) the number of shares of such class and/or series of Parent stock that constitute the SB Retained Shares for purposes of such Stockholder
Vote; and (ii) notify the Proxyholder in writing of the number of shares of the applicable class and/or series of Parent stock that constitute
the Subject Shares for purposes of such Stockholder Vote. For the avoidance of doubt, Parent shall separately deliver to each of
SoftBank and the Proxyholder all notices and other related materials distributed to the stockholders pursuant to Parent’s bylaws.

 

     

     

    

 

(c) This
Proxy Agreement shall not affect the rights and powers of SoftBank with respect to the SB Retained Shares or any other shares of Parent
stock held by SoftBank, other than the Subject Shares, including the rights and powers of SoftBank to vote or otherwise exercise its voting
and other rights in any manner with respect thereto.

 

(d) At
any meeting of Parent’s stockholders where any Stockholder Vote shall be taken, the Proxyholder shall instruct Parent such that,
and Parent agrees to register or cause to be registered the applicable vote, consent, election, waiver, other action and/or abstention
of the Subject Shares by the Proxyholder such that, the Subject Shares shall be voted, consented, elected, waived, otherwise acted and/or
abstained in the same manner and proportion as all other shares of Parent stock entitled or eligible to participate in the applicable
Stockholder Vote are voted, consented, elected, waived, otherwise acted and/or abstained, excluding any shares of Parent stock held by
SoftBank. In the event that any Stockholder Vote is taken pursuant to an action by written consent of Parent’s stockholders, the
Proxyholder shall vote, consent, elect, waive, otherwise act and/or abstain the Subject Shares in the same manner and proportion as all
other shares of Parent stock entitled or eligible to participate in the applicable Stockholder Vote are voted, consented, elected, waived,
otherwise acted and/or abstained, excluding any shares of Parent stock held by SoftBank. The manner of soliciting any Stockholder Vote
shall be in accordance with the laws of the State of Delaware, the Charter, Parent’s bylaws and the Stockholders Agreement.

 

(e) SBGC
(i) hereby represents that there are no proxies in effect with respect to the Subject Shares other than the proxy granted by this Proxy
Agreement and (ii) agrees not to grant any other proxies with respect to any of the Subject Shares.

 

(f) Promptly
following the consummation of the transactions contemplated by the BCA, Parent shall secure its Secretary’s execution of a joinder
to this Proxy Agreement in such Secretary’s capacity as the Proxyholder.

 

(g) If
any then-current Proxyholder ceases to serve as an officer of Parent, notwithstanding any provision of this Proxy Agreement to the contrary,
(i) such person shall cease to serve as SBGC’s attorney-in-fact and proxy hereunder, (ii) Parent’s then-current Secretary,
or if such position is vacant, Parent’s President, or if such position is vacant, Parent’s Treasurer/Assistant Treasurer (each
such individual, a “Subsequent Officer”) shall be, and hereby is, automatically and without further action by
SBGC, appointed as the Proxyholder (for the avoidance of doubt, for all purposes under this Proxy Agreement), and (iii) Parent shall secure
such Subsequent Officer’s execution of a joinder to this Proxy Agreement in such Subsequent Officer’s capacity as the Proxyholder
(for the avoidance of doubt, such execution shall not be a condition to the effectiveness of the Subsequent Officer’s appointment
as the Proxyholder).

 

2. Miscellaneous.

 

(a) This
Proxy Agreement is coupled with an interest and is irrevocable (including in light of the fact that the Proxyholder, and each Subsequent
Officer who may become the Proxyholder, is an equity holder and/or an officer of Parent).

 

(b) The
Proxyholder shall have discretion in exercising its rights and performing its obligations under this Proxy Agreement.  The Proxyholder,
Parent and its directors, officers, agents, employees, affiliates and other representatives (each such party other than the Proxyholder,
a “Parent Party”), shall not have or incur any liability whatsoever by reason of any act or omission of such
Proxyholder in accordance with this Proxy Agreement, whether based upon mistake of fact or law or error of judgment, except in the case
of Proxyholder’s fraud, willful misconduct or gross negligence; it being understood that this sentence shall not limit the liability
of any Parent Party for its own acts or omissions. Notwithstanding the foregoing, this Section 2(b) shall not affect SBGC’s
right to specific performance, injunctive relief or any other equitable remedies available to enforce, or prevent any violations of, the
provisions of this Proxy Agreement.

 

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(c) SBGC
agrees to indemnify and hold harmless the Proxyholder against all losses that the Proxyholder suffers or may suffer in connection with
the exercise of Proxyholder’s obligations hereunder. Notwithstanding the foregoing, any losses suffered by the Proxyholder as a
result of Proxyholder’s fraud, willful misconduct or gross negligence shall not be indemnified by SBGC.

 

(d) No
provision of this Proxy Agreement may be amended, modified or waived, and this Proxy Agreement may not be terminated or cancelled (other
than as expressly set forth herein), without the prior written consent of SBGC and Parent, nor shall any unilateral waiver be permitted.

 

(e) All
notices, requests and other communications made pursuant to this Proxy Agreement shall be in writing and shall be conclusively deemed
to have been duly given when sent by confirmed electronic mail to the electronic mail address of the applicable Party or Parties as set
forth on the signature pages hereto, if sent between 8:00 a.m. and 5:00 p.m. in the recipient’s local time on a business day, or
on the next business day if sent other than between 8:00 a.m. and 5:00 p.m. in the recipient’s local time on a business day. A Party
may change or supplement the address given on its signature page hereto, or designate additional addresses, for purposes of this Section
2(e) by giving the other Parties written notice of the new address in the manner set forth above.

 

(f) This
Proxy Agreement, all acts and transactions pursuant hereto and the rights and obligations of the Parties shall be governed, construed
and interpreted in accordance with the laws of the State of Delaware, without giving effect to principles of conflicts of law. Any legal
suit, action or proceeding relating to, arising out of or arising under this Proxy Agreement shall be brought in the District Court of
Delaware or the Delaware Court of Chancery (or if such court does not have jurisdiction, the Superior Court of Delaware), and each Party
irrevocably submits to the exclusive jurisdiction of such courts in any such suit, action or proceeding.

 

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

 

(h) This
Proxy Agreement may be executed in any number of textually identical counterparts (including by means of email or other electronic transmission),
any one of which need not contain the signatures of more than one Party, but all of such counterparts together shall constitute one agreement.

 

(i) The
Proxyholder may not assign any of its rights or obligations hereunder without the prior written consent to such assignment by SBGC and
Parent. Any attempted or purported assignment in violation of the foregoing sentence shall be null and void ab initio and of no
force and effect. SBGC may assign its rights and obligations hereunder to any of its affiliates, to which it transfers any Shares (except
that the parties agree that notwithstanding any provision of this Proxy Agreement to the contrary, following any such transfer, the power
to amend, modify, terminate or cancel this Proxy Agreement (to the extent permitted by this Proxy Agreement) shall remain with SBGC),
and any such affiliate to which Shares are transferred shall execute a joinder to this Proxy Agreement prior to such transfer (but only
with respect to the Shares to be held by such person), with such transfer subject to the execution and delivery of such joinder. This
Proxy Agreement and each provision hereof will inure to the benefit of and be enforceable by SBGC, Parent and their successors and permitted
assigns, subject to the immediately preceding sentence.

 

(j) If
it is determined by a court of competent jurisdiction that any provision of this Proxy Agreement is invalid under applicable law, then
(i) such provision shall be ineffective only to the extent of such prohibition or invalidity without invalidating the remainder of this
Proxy Agreement and (ii) to the fullest extent possible, such provision shall be adjusted to conform to applicable law so as to be valid
and enforceable.

 

(k) Each
of the Parties acknowledges that (i) the rights of the Parties under this Proxy Agreement are unique; (ii) it will be impossible to measure
in money the damages that would be suffered if the Parties fail to comply with any of the obligations imposed on them by this Proxy Agreement;
and (iii) in the event of any such failure, an aggrieved Party will be irreparably damaged and will not have an adequate remedy at law.
Any such Party shall, therefore, in addition to any other remedies that may be available to a Party upon any such violation, be entitled
to injunctive relief, including specific performance, to enforce such obligations, and if any action shall be brought in equity to enforce
any of the provisions of this Proxy Agreement, then none of the Parties shall raise the defense that there is an adequate remedy at law.
Each Party waives any requirement for the security or posting of any bond in connection with such enforcement.

 

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

 

	 	SOFTBANK GROUP CAPITAL LIMITED
	 	 
	 	By:	 /s/ Alex Clavel
	 	Name: 	 Alex Clavel
	 	Title:	 Director (Alternate to Marcelo Claure)

 

[Proxy Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, the undersigned
has executed this Proxy Agreement as of the date first written above.

 

	 	NEW BEGINNINGS ACQUISITION CORP.
	 	 
	 	By: 	/s/ Michael S. Liebowitz
	 	Name: 	 Michael S. Liebowitz
	 	Title: 	Chief Executive Officer

 

[Proxy Agreement]

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