Document:

brst-ex101_6.htm

Exhibit 10.1

ALLONGE AND MODIFICATION AGREEMENT (NOTE NO. 2)

(Amendment and Modification of Note No. 2 and Related Loan Documents)

THIS ALLONGE AND MODIFICATION AGREEMENT (the “Agreement”) is dated as of the 9th day of December, 2020, by Broad Street Operating Partnership, LP, a Delaware limited partnership, Broad Street Realty, Inc., a Delaware corporation, and Broad Street Realty, LLC, a Maryland limited liability company, their respective successors and/or assigns (collectively, the “Borrower” for clerical convenience); MVB Bank, INC., a West Virginia banking corporation, its successors and/or assigns (the “Lender”); and BSV Cromwell Land LLC, a Maryland limited liability company, and Michael Z. Jacoby (individually) (collectively, the “Guarantors”).

R E C I T A L S :

1.In accordance with the terms of that certain Loan Agreement dated on or about December 27, 2019 (the “Loan Agreement”), executed in favor of the Lender by each Borrower and each Guarantor, the Lender agreed to make one or more commercial loans to the Borrower in the aggregate principal amount of up to Six Million Five Hundred Thousand and 00/100 Dollars ($6,500,000.00) (hereinafter, whether administered as one or more loans, referred to, singularly or collectively, as the “Loan”).  The Lender is the holder of the Notes (defined below).

2.The Loan is evidenced by, among other documents, those certain promissory notes payable to the order of Lender originally dated on or about December 27, 2019 (collectively, together with any and all respective allonges, amendments, modifications, extensions, and/or supplements thereto, the “Notes”), and being further described as follows:

a.Promissory Note in the face amount of Four Million Five Hundred Thousand and 00/100 Dollars ($4,500,000.00) (“Note No. 1”); and 

b.Promissory Note in the face amount Two Million and 00/100 Dollars ($2,000,000.00) (“Original Note No. 2”), as amended by this Agreement (collectively, Original Note No. 2, as amended by this Agreement, together with any and all other allonges, amendments, modifications, extensions, and/or supplements thereto, are referred to as “Note No. 2”). 

3.The Loan is further evidenced and secured by, among other documents, the following executed in favor of the Lender (collectively, together with Note No. 1 and Note No. 2, the Loan Agreement, this Agreement, and any other document, instrument, and/or agreement that governs, secures, evidences, and/or otherwise relates to the Loan, and any and all other or further amendments, modifications, supplements, documents, and/or instruments that may evidence and/or secure the Loan executed at any time or from time to time, referred to hereinafter as the “Loan Documents”):

a.Security Agreement and Collateral Assignment (the “Security Agreement”); 

b.Unconditional Guaranty Agreement (the “Guaranty”) executed by the Guarantors;

c.Pledge, Assignment, and Security Agreement;

 

 

 

 

d.Borrower’s Certificate;

e.Compliance Agreement and Limited Power of Attorney;

f.UCC Financing Statements; and

g.Such other documents, instruments, and/or agreements as may evidence and/or secure the Loan.

4.The parties hereto desire to modify the terms of Note No. 2 and the Loan Documents in accordance with the terms stated herein;

W  I  T  N  E  S  S  E  T  H  :

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby mutually acknowledged and affirmed, the parties hereto do hereby agree as follows:

1.Recitals; Incorporation.  All of the recitals stated above are hereby incorporated herein by reference as if fully set forth in the body of this Agreement.  All of the Loan Documents are hereby incorporated herein by reference as if fully set forth in the body of this Agreement.

2.Modification of Note No. 2; Ratification.

a.As of the date of this Agreement, in addition to all other amounts that may be or become due under Note No. 2, including, but not limited to, accrued interest, costs and fees if any, the principal that remains outstanding under Note No. 2 is $2,000,000.00.

b.The Maturity Date (as defined in Note No. 2) of Note No. 2 is hereby extended and is deemed to be December 27, 2021, when all principal that remains outstanding under Note No. 2, together with all other amounts, including, but not limited to, accrued but unpaid interest, costs, and fees, if any, shall be and become due and payable in full.  TIME IS OF THE ESSENCE. This is a special circumstance and the Lender shall be under no obligation to further extend the Maturity Date.

c.No further draws, advances, or re-advances will be permitted under Note No. 2. 

d.Each Borrower hereby jointly and severally: 

i.ratifies and reaffirms its promise to pay to the order of Lender, its successors and/or assigns, all principal sums advanced and/or re-advanced under the Loan and evidenced by Note No. 2, that remain outstanding, together with all accrued but unpaid interest, costs, and fees as and when they come due thereunder in accordance with its terms;

ii.ratifies and reaffirms that Note No. 2 is and remains a valid and legally binding obligation of the Borrower, enforceable against the Borrower, jointly and severally, in accordance with its terms; 

iii.confirms that Note No. 2 remains contemplated and secured by the Security Agreement and all of the other Loan Documents; and

iv.confirms that all references to Note No. 2 are inclusive of all amendments or modifications thereto.

 

	
Allonge and Modification Agreement (Note No. 2)
	
2
	
 

 

 

This Agreement shall be deemed to be incorporated into and become a part of Note No. 2 as if fully set forth therein, and may be attached to Note No. 2.  Except as modified herein, all other terms and conditions of Note No. 2 shall remain unchanged and in full force and effect.  

3.Modification of Loan Agreement; Ratification.

a.All references in the Loan Agreement to “Note No. 2” and “Loan Documents” shall be deemed to be a reference to Note No. 2 and the Loan Documents, as any are or may be supplemented, amended, restated, and/or substituted.

b.The Lender shall be under no further obligation to make any Advances (as defined in the Loan Agreement) under the Loan, and the terms of Section 7 allowing for Advances and use of a revolving line of credit are of no further effect.  

c.The Loan Agreement is hereby further amended as follows:

i.The Deposit Requirement (as defined in the Loan Agreement) will be tested quarterly commencing as of June 30, 2021.

ii.The minimum DSC Ratio (as defined in the Loan Agreement) required to be maintained shall be at least 1.00 to 1.00 and may be tested by the Lender commencing as of June 30, 2021.

iii.The first quarterly measurement of the Total Funded Debt to EBITDA Ratio (as described in Section 5.02 of the Loan Agreement) will be tested commencing as of December 31, 2021.

iv.The required aggregate Minimum Liquidity (as described in Section 5.03 of the Loan Agreement) of each Borrower and each Guarantor is hereby reduced to not less than $3,000,000, and may be tested quarterly by the Lender commencing as of June 30, 2021.

v.Section 7.01.06 of the Loan Agreement requiring a pay-down of the principal balance of Note No. 2 to $0 for thirty (30) days is hereby deleted.

vi.Each month, Borrower shall provide Lender with monthly, consolidated company-prepared interim financial statements of each Borrower in content and form reasonably acceptable to Lender.

vii.The entities comprising the BSV Group 1 Properties and the BSV Group 2 Properties (as each is defined in the Loan Agreement) shall not incur any additional debt and no other liens may be placed on the cash flow of such entities without Lender’s prior written consent. 

viii.A breach or default under any terms of any documents evidencing and/or securing any loans to any of the entities directly or indirectly owned or controlled by any Borrower, including but not limited to the entities comprising the BSV Group 1 Properties and the BSV Group 2 Properties, which breach or default continues following the expiration of any applicable notice and cure period under such documents, shall be an Event of Default (as defined in the Loan Agreement).  Borrower shall promptly notify Lender of any default under any such loans upon receipt of notice of said default.

 

	
Allonge and Modification Agreement (Note No. 2)
	
3
	
 

 

 

ix.Borrower shall pay to the Lender the following principal curtailments to be applied to the amount due under Note No. 2 (each a “Required Curtailment”): (i) a $250,000.00 Required Curtailment due on or before the earlier of March 31, 2021 or the date that BSV Spotswood LLC and BSV Highlandtown LLC are merged into Broad Street Realty, Inc.; and (ii) a $250,000.00 Required Curtailment due on or before the earlier of September 30, 2021 or the date that BSV Greenwood Investors LLC is merged into Broad Street Realty, Inc.  Upon receipt of each Required Curtailment, Lender will apply the amount received in accordance with the terms of Note No. 2. 

x.On or before the earlier of (i) September 30, 2021 or (ii) the date on which BSV Spotswood LLC, BSV Highlandtown LLC, BSV Greenwood Investors LLC, and BSV Cromwell Property LLC are merged into Broad Street Realty, Inc., Borrower shall cause Michael Z. Jacoby to pledge and assign to Lender, as additional collateral for the Loan, all ownership interests in Broad Street Operating Partnership, LP and/or Broad Street Realty, Inc., that are owned by Michael Z. Jacoby as a result of such mergers, which is anticipated to be 529,528 shares and/or operating units.  Such additional shares and/or operating units shall be in addition to the 1,651,486 shares and 383,668 operating units pledged and assigned to the Lender as collateral for the Loan as of the date of this Agreement.  In connection therewith, Borrower shall cause Michael Z. Jacoby to execute and deliver a Security Agreement and Collateral Assignment and/or Pledge, Assignment, and Security Agreement to grant such assignments and/or security interests, and any Control Agreements required by Lender to perfect such interests, all in a form and content acceptable to the Lender and prepared by Lender’s legal counsel at Borrower’s expense.  

d.All parties hereto jointly and severally ratify and reaffirm that the Loan Agreement remains legal, valid, and binding upon the Borrower, and enforceable against the Borrower in accordance with its terms.

Except as modified herein, all other terms and conditions in the Loan Agreement shall remain unchanged, and in full force and effect.

4.Modification of Guaranty; Ratification.

a.All references in the Guaranty to “Note No. 2” and “Loan Documents” shall be deemed to be a reference to Note No. 2 and the Loan Documents, as any are or may be supplemented, amended, restated, and/or substituted.

b.To induce the Lender to enter into this Agreement, each Guarantor hereby: (i) reaffirms and ratifies the terms and conditions set forth in the Guaranty; (ii) reaffirms and ratifies all of the other Loan Documents that have been executed by it; (iii) acknowledges receiving an economic and/or financial benefit from the parties entering into this Agreement; and (iv) covenants that the Guaranty remains valid, binding, and enforceable against the Guarantor, in accordance with the terms thereof.

Except as modified herein, all other terms and conditions contained in the Guaranty shall remain unchanged and in full force and effect.

5.Modification of Other Loan Documents; Ratification.

a.Each reference in the Loan Documents to “Note No. 2” shall be deemed to be a reference to Note No. 2, as amended.

 

	
Allonge and Modification Agreement (Note No. 2)
	
4
	
 

 

 

b.Each reference in the Loan Documents to any particular Loan Document shall be deemed to be a reference to such Loan Document, as amended, and as may be further modified by this Agreement.  All of the modifications contained in this Agreement shall be in full force and effect notwithstanding anything contained in any of the Loan Documents to the contrary.  In the event of a conflict between the terms of any Loan Document and the terms of this Agreement, the terms of this Agreement shall be deemed to control.

c.To induce the Lender to enter into this Agreement, each Borrower and each Guarantor hereby jointly and severally covenants that Note No. 2 and all of the other Loan Documents executed by them remain valid, binding, and enforceable against them in accordance with the respective terms thereof, and except as modified herein, all other terms of the respective Loan Documents remain unchanged and in full force and effect.

6.Ratification of Note No. 1.  Each Borrower hereby jointly and severally: (i) ratifies and reaffirms its promise to pay to the order of Lender, its successors and/or assigns, all principal sums advanced under the Loan and evidenced by Note No. 1 that remain outstanding, together with all accrued but unpaid interest, costs, and fees as and when they come due thereunder in accordance with its terms; (ii) ratifies and reaffirms that Note No. 1 is and remains a valid and legally binding obligation of Borrower, enforceable against each Borrower, jointly and severally, in accordance with its terms; (iii) confirms that Note No. 1 remains contemplated and secured by the Security Agreement and all of the other Loan Documents; and (iv) confirms that all references to Note No. 1 are inclusive of all amendments and/or modifications thereto.

7.Authorization.

a.Each Borrower executed a resolution in connection with the Loan and the Loan Documents in favor of the Lender (collectively, the “Borrower Resolutions”) that permits each Borrower to enter into any and all amendments to the Loan, and this Agreement is an amendment to the Loan which is duly contemplated, authorized, and permitted by the Borrower Resolutions, which are hereby warranted and covenanted by each Borrower to be and remain in full force and effect.  The Lender is authorized to rely upon this paragraph.

b.BSV Cromwell Land LLC executed a resolution in connection with the Loan and the Loan Documents in favor of the Lender (the “Guarantor Resolution”) that permits BSV Cromwell Land LLC to enter into any and all amendments to the Loan, and this Agreement is an amendment to the Loan which is duly contemplated, authorized, and permitted by the Guarantor Resolution, which is hereby warranted and covenanted by BSV Cromwell Land LLC to be and remain in full force and effect.  The Lender is authorized to rely upon this paragraph.

8.Ratification of UCC Financing Statements.  It is hereby covenanted and warranted that: (a) all personal property identified and listed in the UCC Financing Statement continues to secure all obligations under the Notes and Loan Documents, as amended, and (b) other or additional UCC Financing Statements and/or modification or continuation statements to the existing UCC Financing Statement may be filed, at the expense of the Borrower, at any time or from time to time, in any of the applicable recording jurisdictions or among any proper records to ensure that the Lender’s security interests are properly filed and perfected. In the event that any UCC Financing Statements expire, or the Lender for any reason, deems that its security interests in any of its collateral are not properly perfected, or the collateral descriptions require clarification or particularity to better comply with applicable codes, then the Borrower agrees to at all times cooperate with the Lender in signing all 

 

	
Allonge and Modification Agreement (Note No. 2)
	
5
	
 

 

 

desirable documentation, and hereby authorize the proper substitution, correction, filing or re-filing, recording or re-recording of any documents or financing statements to perfect or better perfect and protect the security interests of the Lender for so long as the Loan remains outstanding.

9.Other Covenants.

a.No prior, present, or future failure or delay by the Lender in the exercise or enforcement of any of its rights under the Loan Documents, or any of them as any may be amended, or at law or in equity, shall be a waiver of such right or remedy.  Lender may have previously failed to exercise any rights, remedies, or privileges under the Loan Documents, or any of them as any are amended, and no such failure or delay shall be deemed to be a waiver of any such right, remedy or privilege, for so long as any of the Loan remains outstanding.  No future failure or delay by the Lender to exercise or enforce any of its rights, remedies, or privileges under the Loan Documents, or any of them, shall constitute a future waiver of those rights, remedies, or privileges.

b.The agreements, obligations, warranties, and representations of Borrower contained herein are joint, several, and joint and several with respect to each Borrower.  The agreements, obligations, warranties, and representations of Guarantor contained herein are joint, several, and joint and several with respect to each Guarantor.

c.Each of the undersigned hereby certifies that the execution, delivery, and performance of this Agreement has been properly authorized, consented to, and approved by all requisite and necessary parties. 

d.Each Borrower and each Guarantor agrees that there are no defenses, counterclaims, and/or setoffs against any of their respective obligations under the Loan Documents.  

e.Nothing contained herein shall modify or affect other notes that may be in favor of the Lender and referred to in any of the Loan Documents, including, but not limited to, Note No. 1.

f.This Agreement is a modification only and does not effect or constitute a novation or release of any Borrower’s or any Guarantor’s respective obligations under any of the Loan Documents or any agreements contained therein.

g.In connection with this Agreement and all matters contemplated herein, the Borrower agrees to pay to the Lender its attorneys’ fees and loan modification fees incurred on or before the date hereof, and in particular a modification fee in the amount of Two Thousand and 00/100 Dollars ($2,000.00), all of which shall be deemed earned in full as of the date hereof.

h.Each Borrower hereby covenants and agrees to execute and deliver, any and all instruments, papers, deeds, acts, and/or things, supplemental, confirmatory, or otherwise, as reasonably may be required by the Lender for the purpose of effecting the modifications described or contemplated herein.  

i.This Agreement is binding on the parties hereto, their respective heirs, estates, personal representatives, successors, assigns, and/or successors in title.

j.This Agreement may be executed by the parties hereto in separate counterparts, each of which, when so executed and delivered, shall be an original, but all such counterparts shall together constitute one and the same instrument.  Each counterpart may consist of a number of copies 

 

	
Allonge and Modification Agreement (Note No. 2)
	
6
	
 

 

 

hereof, each signed by less than all, but together signed by all, of the parties hereto.  Copies of documents or signature pages bearing original signatures, and executed documents or signature pages delivered by a party by telefax, facsimile, or e-mail transmission of an Adobe® file format document (also known as a PDF file) shall, in each such instance, be deemed to be, and shall constitute and be treated as, an original signed document or counterpart, as applicable.  Any party delivering an executed counterpart of this Agreement by telefax, facsimile, or e-mail transmission of an Adobe® file format document also shall deliver an original executed counterpart of this Agreement, but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and legally binding effect of this Agreement.

k.This Agreement constitutes the entire agreement between the parties hereto, and supersedes all prior discussions among the parties hereto.

Except as modified herein, all other terms and conditions in the Loan Documents shall remain unchanged, and in full force and effect.

(signatures follow next)

 

 

 

	
Allonge and Modification Agreement (Note No. 2)
	
7
	
 

 

 

 

WITNESS the following signatures and seals of the undersigned to this Allonge and Modification Agreement:

Borrower:

Broad Street Operating Partnership, LP

a Delaware limited partnership

 

	
By:
	
 
	
Broad Street OP GP, LLC

	
 
	
 
	
a Delaware limited liability company

	
 
	
 
	
its General Partner

 

	
By:
	
 
	
/s/ Michael Z. Jacoby 
	
(seal)

	
 
	
 
	
Michael Z. Jacoby
	
 

	
 
	
 
	
Chief Executive Officer
	
 

 

	
Broad Street Realty, Inc.
	
 

	
a Delaware corporation
	
 

	
 
	
 
	
 
	
 

	
By:
	
 
	
/s/ Michael Z. Jacoby 
	
(seal)

	
 
	
 
	
Michael Z. Jacoby
	
 

	
 
	
 
	
Chief Executive Officer
	
 

	
 
	
 
	
 
	
 

	
Broad Street Realty, LLC
	
 

	
a Maryland limited liability company
	
 

	
 
	
 
	
 
	
 

	
By:
	
 
	
/s/ Michael Z. Jacoby
	
(seal)

	
 
	
 
	
Michael Z. Jacoby
	
 

	
 
	
 
	
Chief Executive Officer
	
 

 

STATE OF ____________________

CITY/COUNTY OF ____________________, to wit:

 

The foregoing instrument was acknowledged before me, a notary public, this _____ day of December, 2020, by Michael Z. Jacoby, as Chief Executive Officer of Broad Street OP GP, LLC, a Delaware limited liability company, the General Partner of Broad Street Operating Partnership, LP, a Delaware limited partnership, as Chief Executive Officer of Broad Street Realty, Inc., a Delaware corporation, and as Chief Executive Officer of Broad Street Realty, LLC, a Maryland limited liability company. 

 

	
My Commission Expires:
	
 
	
 

	
Registration Number:
	
 
	
Notary Public

 

(signatures continue next)

 

 

 

	
Allonge and Modification Agreement (Note No. 2)
	
8
	
 

 

 

 

WITNESS the following signatures and seals of the undersigned to this Allonge and Modification Agreement (continued):

 

Guarantor:

 

BSV Cromwell Land LLC

a Maryland limited liability company

 

	
By:
	
 
	
/s/ Michael Z. Jacoby 
	
(seal)

	
 
	
 
	
Michael Z. Jacoby
	
 

	
 
	
 
	
Chief Executive Officer
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
/s/ Michael Z. Jacoby
	
(seal)

	
 
	
 
	
Michael Z. Jacoby (individually)

 

	
STATE OF
	
 
	
 
	
 

	
CITY/COUNTY OF
	
 
	
, to wit:

 

The foregoing instrument was acknowledged before me, a notary public, this _____ day of December, 2020, by Michael Z. Jacoby, as the Chief Executive Officer of BSV Cromwell Land LLC, a Maryland limited liability company, and individually. 

 

	
My Commission Expires:
	
 
	
 

	
Registration Number:
	
 
	
Notary Public

 

(signatures continue next)

 

 

 

	
Allonge and Modification Agreement (Note No. 2)
	
9
	
 

 

 

 

Witness our signatures and seals to the Allonge and Modification Agreement (continued):

 

Lender:

 

	
MVB Bank, INC.

	
a West Virginia banking corporation

 

	
By:
	
/s/ Garret Reed

	
Print Name:
	
Garret Reed

	
Title:
	
SVP

 

 

	
Allonge and Modification Agreement (Note No. 2)
	
10Exhibit 4.1

 

	NUMBER	UNITS
	U-	 

 

SEE REVERSE FOR CERTAIN DEFINITIONS

 

CUSIP 08179B 202

 

BENESSERE CAPITAL ACQUISITION CORP.

 

UNITS CONSISTING OF ONE SHARE OF CLASS A
COMMON STOCK, ONE RIGHT AND THREE-FOURTHS OF ONE WARRANT,

 

EACH RIGHT ENTITLING THE HOLDER TO RECEIVE
ONE-TENTH OF ONE SHARE OF CLASS A COMMON STOCK

 

EACH WHOLE WARRANT ENTITLING THE HOLDER
TO PURCHASE ONE SHARE OF CLASS A COMMON STOCK

 

THIS CERTIFIES THAT                     
is the owner of          Units.

 

Each Unit (“Unit”)
consists of one (1) share of Class A common stock, par value $0.0001 per share (“Common Stock”),
of Benessere Capital Acquisition Corp., a Delaware corporation (the “Company”), one right (“Right”)
and one-fourth of one redeemable warrant (the “Warrant”). Each Right entitles the holder to receive
one-tenth (1/10) of one share of Common Stock, subject to adjustment, upon the Company’s completion of an acquisition, share
exchange, share reconstruction and amalgamation, contractual control arrangement or other similar business combination with one
or more businesses or entities (each a “Business Combination”). Only whole Warrants are exercisable.
Each whole Warrant entitles the holder to purchase one (1) share (subject to adjustment) of Common Stock for $11.50 per share
(subject to adjustment). Each Warrant will become exercisable on the later of (i) thirty (30) days after the Company’s
completion of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination
with one or more businesses (each a “Business Combination”), and (ii) twelve (12) months from
the closing of the Company’s initial public offering, and will expire unless exercised before 5:00 p.m., New York City Time,
on the date that is five (5) years after the date on which the Company completes its initial Business Combination, or earlier
upon redemption or liquidation (the “Expiration Date”). The Common Stock and Warrants comprising
the Units represented by this certificate are not transferable separately prior to           
, 2021, unless Kingswood Capital Markets, division of Benchmark Investments, Inc. elects to allow separate trading earlier,
subject to the Company’s filing of a Current Report on Form 8-K with the Securities and Exchange Commission containing
an audited balance sheet reflecting the Company’s receipt of the gross proceeds of the Company’s initial public offering
and issuing a press release announcing when separate trading will begin. No fractional Warrants will be issued upon separation
of the Units. The terms of the Warrants and Rights are governed by a Warrant Agreement and a Rights Agreement, each dated as of             
, 2020, between the Company and Continental Stock Transfer & Trust Company, as Warrant Agent and Rights Agent, and are
subject to the terms and provisions contained therein, all of which terms and provisions the holder of this certificate consents
to by acceptance hereof. Copies of the Warrant Agreement and Rights Agreement are on file at the office of Continental Stock
Transfer & Trust Company at 1 State Street, 30th Floor, New York, New York 10004, and are available to
any Warrant holder or Rights holder on written request and without cost.

 

This certificate is not valid unless countersigned
by the Transfer Agent and registered by the Registrar of the Company.

 

This certificate shall be governed by and
construed in accordance with the internal laws of the State of New York.

 

Witness the facsimile signature of a duly
authorized signatory of the Company.

 

	 	 	 	 	 
	Authorized Signatory	 	 	 	Transfer Agent

 

     

     

    

 

Benessere Capital Acquisition Corp.

 

The Company will furnish without charge
to each unitholder who so requests, a statement of the powers, designations, preferences and relative, participating, optional
or other special rights of each class of stock or series thereof of the Company and the qualifications, limitations, or restrictions
of such preferences and/or rights.

 

The following abbreviations, when used
in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable
laws or regulations:

 

	TEN COM     —    as tenants in common	UNIF GIFT MIN ACT	 	—	 	 	 	Custodian	 	 
	TEN ENT       —    as tenants by the entireties	 	 	 	 	    (Cust)    	 	 	 	      (Minor)      
	 	 	 	 
	JT TEN          —     as joint tenants with right of survivorship and not as tenants in common	 	 	 	under Uniform Gifts to Minors Act
	 	 	 	 	 	 
	 	 	 	 	 	(State)

 

Additional abbreviations may also be used
though not in the above list.

 

For value received,                     
hereby sell, assign and transfer unto

 

(PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE)

 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING
ZIP CODE, OF ASSIGNEE)

 

Units represented by the within Certificate,
and do hereby irrevocably constitute and appoint

 

Attorney to transfer the said Units on the books of
the within named Company with full power of substitution in the premises.

 

Dated

 

	 	 
	 	 
	 	Notice: The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.

 

	Signature(s) Guaranteed:
	 
	 
	 
	THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED (OR ANY SUCCESSOR RULE).

 

     

     

    

 

As more fully described, and subject
to the terms and conditions described in, the Company’s final prospectus for its initial public offering dated                   ,
2020, the holder(s) of this certificate shall be entitled to receive a pro-rata portion of certain funds held in the trust
account established in connection with the Company’s initial public offering only in the event that (i) the Company
redeems the shares of Common Stock sold in the Company’s initial public offering and liquidates because it does not consummate
an initial business combination by the date set forth in the Company’s Amended and Restated Certificate of Incorporation,
as the same may be amended from time to time (such date being referred to herein as the “Last Date”), (ii) the
Company redeems the shares of Common Stock sold in its initial public offering properly submitted in connection with a stockholder
vote to amend the Company’s Amended and Restated Certificate of Incorporation to modify the substance or timing of the Company’s
obligation to redeem 100% of the Common Stock if it does not consummate an initial business combination by the Last Date or with
respect to any other provisions relating to stockholders’ rights or pre-initial business combination activity, or (iii) if
the holder(s) seek(s) to redeem for cash his, her or its respective shares of Common Stock in connection with a tender
offer (or proxy solicitation, solely in the event the Company seeks stockholder approval of the proposed initial business combination)
setting forth the details of a proposed initial business combination. In no other circumstances shall the holder(s) have any
right or interest of any kind in or to the trust account.

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