Document:

Exhibit 10.6

 

VOTING AND SUPPORT AGREEMENT

 

This Voting and Support Agreement (this “Agreement”) dated as of March 16, 2016, is entered into by and among Guaranty Bancorp, a Delaware corporation (“Guaranty”), and each of the shareholders of Home State Bancorp, a Colorado corporation (the “Company”) identified in Exhibit A to this Agreement (each, a “Shareholder” and collectively, the “Shareholders”).

 

WHEREAS, in order to induce Guaranty to enter into that certain Agreement and Plan of Reorganization, dated as of the date hereof, with the Company (as amended from time to time, the “Merger Agreement”; capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Merger Agreement), Guaranty has required that each Shareholder enter into this Agreement;

 

WHEREAS, pursuant to the Merger Agreement, the Company shall be merged with and into Guaranty (the “Merger”) and, at the Effective Time of the Merger, each outstanding share of Company Stock shall be converted into the right to receive the Per Share Merger Consideration or the KSOP Cash Consideration, as applicable, on the terms and conditions set forth in the Merger Agreement;

 

WHEREAS, as of the date hereof, each Shareholder beneficially owns the number of shares of Company Stock (“Shares”) set forth opposite his, her or its name on Exhibit A to this Agreement; and

 

WHEREAS, each Shareholder wishes to vote in favor of the approval of the Merger Agreement and any actions related thereto.

 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants, representations, warranties and agreements set forth herein and in the Merger Agreement, and intending to be legally bound, the parties agree as follows:

 

ARTICLE 1
 VOTING AGREEMENT

 

Section 1.01.  Consent to Support the Merger; Voting Agreement.  Each Shareholder hereby agrees (a) with respect to all Shares that the Shareholder is entitled to vote at the time of any relevant vote or action by written consent, to vote or exercise its right to consent to approve the Merger Agreement and any actions related thereto; and (b) that it will not vote any Shares in favor of, or consent to, and will vote against and not consent to, the approval of any (i) Acquisition Proposal or any action or transaction in furtherance thereof; (ii) reorganization, recapitalization, liquidation or winding-up of the Company or any other extraordinary transaction involving the Company; or (iii) corporate action the consummation of which is intended to, or would reasonably be expected to, materially frustrate the purposes, or prevent or delay the consummation, of the transactions contemplated by the Merger Agreement; provided, however, that the Shareholder will not be required to vote in favor of the Merger Agreement or in any other manner required pursuant to this Section 1.01 (nor will the irrevocable proxy apply), if, without the written consent of the Shareholder, there has been an amendment to the Merger Agreement that reduces the amount of consideration or the form of consideration to be received by such Shareholder or adversely affects the tax consequences of such Shareholder’s receipt of consideration under the Merger Agreement in its present form.

 

Section 1.02.  Irrevocable Proxy.  Each Shareholder hereby revokes any and all previous proxies granted with respect to the Shares.  By entering into this Agreement, each Shareholder hereby irrevocably grants a proxy appointing Guaranty as the Shareholder’s attorney-in-fact and proxy, with full power of substitution, for and in the Shareholder’s name, to vote, express consent or dissent, or otherwise to utilize 

 

 

such voting power only in the manner contemplated by Section 1.01 above.  Each Shareholder hereby acknowledges and agrees that (a) such proxy (i) is coupled with an interest; (ii) constitutes, among other things, an inducement for Guaranty to enter into the Merger Agreement; (iii) is irrevocable; and (iv) shall not be terminated by operation of law or otherwise upon the occurrence of any event (other than on termination of this Agreement as provided in Section 4.03(c) hereof); and (b) that no subsequent proxies with respect to the Shares shall be given with respect to the matters contemplated by Section 1.01 above (and if given shall not be effective).

 

Section 1.03.  Other Capacities.  If any Shareholder is an officer or director of the Company, nothing in this Agreement shall be deemed to apply to, or to limit in any manner, the discretion of such Shareholder with respect to any action to be taken (or omitted) by such Shareholder in his or her fiduciary capacity as an officer or director of the Company; provided that the obligations, covenants and agreements of such Shareholder contained in this Agreement are separate and apart from such Shareholder’s fiduciary duties as an officer or director of the Company, and any fiduciary obligation that such Shareholder may have as a director or officer of the Company shall not countermand the obligations, covenants and agreements of such Shareholder, in his or her capacity as a shareholder of the Company, contained in this Agreement.

 

ARTICLE 2
 REPRESENTATIONS AND WARRANTIES OF SHAREHOLDERS

 

Each Shareholder represents and warrants to Guaranty that, as of the date hereof and as of the Effective Time:

 

Section 2.01.  Organization; Authorization.  If the Shareholder is not a natural person, the Shareholder is a trust that has been duly formed and is validly existing under the laws of its jurisdiction of formation.  The execution, delivery and performance by the Shareholder of this Agreement and the consummation by the Shareholder of the transactions contemplated hereby are within the powers of the Shareholder and have been duly authorized by all necessary action.  If this Agreement is being executed in a representative or fiduciary capacity, the person signing this Agreement has full power and authority to enter into and perform this Agreement.  This Agreement constitutes a valid and binding Agreement of such Shareholder and such Shareholder’s spouse, if the Shares constitute community property, and is enforceable against such Shareholder (and such Shareholder’s spouse if applicable) in accordance with its terms.

 

Section 2.02.  Noncontravention.  The execution, delivery and performance by such Shareholder of this Agreement and the consummation of the transactions contemplated hereby do not and will not (a) in the case of a Shareholder that is not an individual, violate the instrument of trust or other governing documents of such Shareholder; (b) violate any Applicable Law; (c) require any consent or other action by any Person under, constitute a default under, or give rise to any right of termination, cancellation or acceleration or to a loss of any benefit to which such Shareholder or any such Shareholder’s Affiliates is entitled under any provision of any agreement or other instrument binding on Shareholder or any such Shareholder’s Affiliates; or (d) result in the imposition of any Lien on any Shares of such Shareholder or any such Shareholder’s Affiliates.

 

Section 2.03.  Governmental Authorization.  The execution, delivery and performance of this Agreement by such Shareholder and the consummation of the transactions contemplated hereby do not and will not require any action by or in respect of, or filing with, any Governmental Authority or any other Person.

 

2

 

Section 2.04.  Litigation.  There is no action, suit, investigation or proceeding pending against or, to such Shareholder’s knowledge, threatened against or affecting such Shareholder which in any manner challenges or seeks to prevent, enjoin, alter or delay the transactions contemplated by this Agreement.

 

Section 2.05.  Informed Consent.  Each Shareholder (a) has received and reviewed a copy of this Agreement, the Merger Agreement and the exhibits thereto; (b) has been given the opportunity to ask such questions of the Company and its representatives, and obtain such information from the Company, as such Shareholder wishes to so ask or obtain; and (c) has had an opportunity to obtain the advice of counsel prior to executing this Agreement.

 

Section 2.06.  Ownership of Shares.  Such Shareholder is the record and beneficial owner of his, her or its Shares, free and clear of any Lien and any other limitation or restriction (including any restriction on the right to vote or otherwise dispose of the Shares).  None of such Shareholder’s Shares is subject to any voting trust or other agreement or arrangement with respect to the voting or disposition of such Shares.

 

Section 2.07.  Total Shares.  Except as set forth opposite such Shareholder’s name in Exhibit A to this Agreement, such Shareholder does not beneficially own any (a) shares of capital stock or voting securities of the Company or any Subsidiary of the Company; (b) securities of the Company or any Subsidiary of the Company convertible into or exchangeable for shares of capital stock or voting securities of the Company or any Subsidiary of the Company, as applicable; or (c) options or other rights to acquire from the Company or any Subsidiary of the Company any capital stock, voting securities or securities convertible into or exchangeable for capital stock or voting securities of the Company or any Subsidiary of the Company, as applicable.  For the avoidance of doubt, “Shares,” as used in this Agreement, shall include all shares of the Company Stock that the Shareholder owns of record or beneficially and has the power to vote as of the date of this Agreement and all shares of Company Stock of which the Shareholder acquires record or beneficial ownership (and the power to vote) after the date hereof and prior to the termination of this Agreement, whether upon the exercise of options, warrants or rights, the conversion or exchange of convertible or exchangeable securities, or by means of purchase, dividend, distribution, split-up, recapitalization, combination, exchange of shares or the like, gift, bequest, inheritance, or as a successor-in-interest in any capacity or otherwise.

 

Section 2.08.  Finder’s Fees.  No investment banker, broker, finder or other intermediary is entitled to a fee or commission from Guaranty, the Company or any Subsidiary of the Company in respect of this Agreement based upon any arrangement or agreement made by or on behalf of such Shareholder.

 

Section 2.09.  Residence.  If the Shareholder is an individual, then such Shareholder’s residence is set forth opposite such Shareholder’s name in Exhibit A hereto.  If the Shareholder is not an individual, then such Shareholder’s location in which it is based is set forth opposite such Shareholder’s name on Exhibit A hereto.

 

ARTICLE 3
 COVENANTS OF SHAREHOLDERS

 

Each Shareholder hereby covenants and agrees that:

 

Section 3.01.  No Proxies for or Encumbrances on Shares.  Except pursuant to the terms of this Agreement, such Shareholder shall not, without the prior written consent of Guaranty, directly or indirectly, (a) grant any proxies or enter into any voting trust or other agreement or arrangement with respect to the voting of any Shares; or (b) acquire, sell, assign, transfer, encumber or otherwise dispose of, or enter into any contract, option or other arrangement or understanding with respect to the direct or 

 

3

 

indirect acquisition or sale, assignment, transfer, encumbrance or other disposition of, any Shares during the term of this Agreement.  Shareholder shall not seek or solicit any such acquisition or sale, assignment, transfer, encumbrance or other disposition or any such contract, option or other arrangement or understanding and agrees to notify Guaranty promptly, and to provide all details requested by Guaranty, if Shareholder shall be approached or solicited, directly or indirectly, by any Person with respect to any of the foregoing.

 

Section 3.02.  Other Offers.  Such Shareholder shall not, directly or indirectly, and shall not authorize any other person to (a) take any action to solicit or initiate any Acquisition Proposal; (b) engage in negotiations with, or disclose any nonpublic information relating to the Company or any of its Subsidiaries or afford access to the properties, books or records of the Company or any of its Subsidiaries to, any Person that may be considering making, or has made, an Acquisition Proposal or has agreed to endorse an Acquisition Proposal; or (c) enter into any agreement relating to an Acquisition Proposal.  Such Shareholder will promptly notify Guaranty after receipt of an Acquisition Proposal or any indication that any Person is considering making an Acquisition Proposal or any request for nonpublic information relating to the Company or any of its Subsidiaries or for access to the properties, books or records of the Company or any of its Subsidiaries by any Person that may be considering making, or has made, an Acquisition Proposal and will keep Guaranty fully informed of the status and details of any such Acquisition Proposal, indication or request.

 

Section 3.03.  Dissenters’ Rights.  The Shareholder agrees not to exercise any rights to dissent or demand payment of fair value or appraisal of the Shares, under Applicable Law (including under Section 7-113-101, et seq., of the CBCA), if applicable, which may arise with respect to the Merger.

 

Section 3.04.  Disclosure.  The Shareholder hereby authorizes Guaranty and the Company to publish and disclose in any filing with the Securities and Exchange Commission or any other Governmental Authority in connection with the Merger the Shareholder’s identity and ownership of the Shares and the nature of the Shareholder’s obligations under this Agreement.

 

ARTICLE 4
 MISCELLANEOUS

 

Section 4.01.  Notices.  All notices, requests and other communications to any party hereunder shall be in writing (including facsimile transmission but not electronic mail) and shall be given:

 

if to Guaranty, to:

 

Guaranty Bancorp

1331 Seventeenth Street, Suite 200

Denver, CO  80202

Attention:  Paul W. Taylor, President and Chief Executive Officer

 

4

 

With a copy to:

 

Bieging Shapiro & Barber LLP

4582 South Ulster Street Parkway, Suite 1650

Denver, CO  80237

Attention:  Christian E. Otteson

 

if to a Shareholder, to the address set forth for such Person on Exhibit A,

 

or to such other address or facsimile number as such party may hereafter specify for the purpose by notice to the other parties hereto.  All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. on a Business Day in the place of receipt.  Otherwise, any such notice, request or communication shall be deemed to have been received on the third succeeding Business Day in the place of receipt.

 

Section 4.02.  Further Assurances.  Each Shareholder will execute and deliver, or cause to be executed and delivered, all further documents and instruments, and use his, her or its best efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable under Applicable Law to consummate the transactions contemplated by this Agreement.

 

Section 4.03.  Amendments and Waivers; Termination.

 

(a)                       Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed, in the case of an amendment, by each party to this Agreement or in the case of a waiver, by the party against whom the waiver is to be effective.

 

(b)                       No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law.

 

(c)                        This Agreement shall terminate and be of no further force and effect upon the earlier to occur of (i) the Effective Time; or (ii) the termination of the Merger Agreement in accordance with its terms.  Upon termination of this Agreement, no party hereto shall have any further obligations or liabilities under this Agreement.

 

Section 4.04.  Expenses.  All costs and expenses incurred in connection with this Agreement shall be paid by the party incurring such cost or expense.

 

Section 4.05.  Successors and Assigns.  The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns; provided that no party may assign, delegate or otherwise transfer any of its rights or obligations under this Agreement without the consent of the other parties hereto, except that Guaranty may transfer or assign its rights and obligations to any Affiliate of Guaranty; provided, however, that no assignment by Guaranty shall relieve Guaranty of its obligations under this Agreement.

 

Section 4.06.  Governing Law.  All questions concerning the validity, operation and interpretation of this Agreement and the performance of the obligations imposed upon the parties hereunder shall be governed by the laws of the State of Colorado, without taking into account provisions regarding choice of law.

 

5

 

Section 4.07.  Jurisdiction; Venue.  In any action or proceeding between any of the parties arising out of or relating to this Agreement, each party:  (a) irrevocably and unconditionally consents and submits to the exclusive jurisdiction and venue of the state courts of the State of Colorado or the United States District Court for the District of Colorado; (b) agrees that all claims in respect of such action or proceeding shall be heard and determined exclusively in accordance with clause (a) of this Section 4.07; (c) waives any objection to laying venue in any such action or proceeding in such courts; and (d) waives any objection that such courts are an inconvenient forum or do not have jurisdiction over any party.

 

Section 4.08.  WAIVER OF JURY TRIAL.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

Section 4.09.  Counterparts; Effectiveness.  This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement shall become effective when each party hereto shall have received counterparts hereof signed by all of the other parties hereto.  Until and unless each party has received a counterpart hereof signed by the other party hereto, this Agreement shall have no effect and no party shall have any right or obligation hereunder (whether by virtue of any other oral or written agreement or other communication).

 

Section 4.10.  Entire Agreement.  This Agreement (and the Merger Agreement with respect to the Company and Guaranty) constitutes the entire agreement between the parties with respect to the subject matter of this Agreement and supersedes all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter of this Agreement and the other Transaction Documents.

 

Section 4.11.  Severability.  If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or other Governmental Authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party.  Upon such a determination, the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.

 

Section 4.12.  Specific Performance.  The parties hereto agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof and that the parties shall be entitled (without the requirement to post bond) to an injunction or injunctions to prevent breaches of this Agreement or to enforce specifically the performance of the terms and provisions hereof, in addition to any other remedy to which they are entitled at law or in equity.

 

Section 4.13.                          Individual Obligations.  Each of the Shareholders makes the representations, warranties and agreements contained herein individually and not jointly with any other Shareholder.

 

[Remainder of this page intentionally left blank]

 

6

 

IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year first above written.

 

	
 
    	
GUARANTY:
    
	
 
    	
 
    
	
 
    	
GUARANTY BANCORP
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name: Paul W. Taylor
    
	
 
    	
Title:   President & Chief Executive Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
SHAREHOLDERS:
    
	
 
    	
 
    
	
 
    	
[If Shareholder is a   trust]:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
(Trust Name)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title: Trustee
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
[If Shareholder is an   individual]:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Name:
    	
 
    
						

 

[Signature Page to Voting and Support Agreement]

 

 

Exhibit A

 

	
Shareholder
    	
 
    	
Address
    	
 
    	
Total Number
   of SharesEXHIBIT 10.1

 

 

STOCK PLEDGE AND SECURITY AGREEMENT

THIS STOCK PLEDGE AND SECURITY AGREEMENT ("Pledge Agreement") is made this 6th day of May, 2016, by and among Digital Media Acquisition Group Corp. ("DMAGC") a Delaware corporation, Signal Point Telecommunications Corp. ("SPTC"), a New York corporation and Signal Share Software Development Corp. (to be renamed Signal Point Media Corp., "SPMC"), a Delaware corporation  and their successors and assigns, each with a principal place of business at 433 Hackensack Avenue 6th Floor, Hackensack, NJ 07601 (SPTC AND SPMC are collectively hereinafter referred to as the "Borrower"), to Brookville Special Purpose Fund, LLC, Veritas High Yield Fund, LLC and Allied International Fund, Inc., each with an address  of  One Beech Tree Lane, Brookville, NY 11545 (collectively hereinafter referred to as the "Note Holders and Secured Parties ").

WITNESSETH:

WHEREAS, pursuant to the United States District Court, Southern District of New York, Court Order executed and so ordered on April 11, 2016, by the  Honorable Vernon Broderick, United States District Judge (the "Court Order"), certain Notes, Security Agreements and UCC-1 financing statements (collectively, as amended, the "Loan Agreement"), and Omnibus Agreement dated April 7, 2016 (collectively, as amended, the Loan Agreement, Omnibus Agreement and Court Order"), the Note Holders and Secured Parties have extended to the Borrower certain credit and/or loan facilities pursuant to the Loan Agreement (collectively, the "Loans"); and

WHEREAS, Roomlinx Inc. is the owner of 100% of the outstanding shares of its wholly-owned subsidiary DMAGC, and has consented to the UCC-1 financing statement filed by Note Holders and Secured Parties against DMAGC and the pledge by DMAGC of 100% of the outstanding shares of Common Stock (collectively, the "Shares") of Signal Point Telecommunications Corp. and Signal Share Software Development Corp to the Note Holders and Secured Parties; and

WHEREAS, the obligation of the Note Holders and Secured Parties to make the Loans to the Borrower is subject to the condition, among others, that the Loans and all other obligations of Borrower under the Loan Agreement, Omnibus Agreement and Court Order and the other Loan Documents shall be secured by this Pledge and Security Agreement by the Borrower to the Note Holders and Secured Parties of the Shares.   Terms not otherwise defined herein shall have the meanings ascribed to them in the Loan Agreement, Omnibus Agreement and Court Order.

NOW, THEREFORE, in order to induce the Note Holders and Secured Parties to forebear the foreclosure of the Loans to the Borrower pursuant to and in accordance with the terms and conditions of the April 11, 2016 Court Order, and for other good and valuable consideration, the receipt and sufficiency of which Borrow hereby acknowledges, Borrower hereby covenants and agrees as follows:

1.       Pledge of Shares. Borrower and DMAGC hereby pledge and collaterally assign the Shares, and all Income and Proceeds thereof (as hereinafter defined), to the Note Holders and Secured Parties as collateral security for the payment and performance of the Borrower's obligations under the Loan Agreement, Omnibus Agreement and Court Order and the Loan Documents, including, but not limited to, the repayment of the Loans and all interest, charges, legal fees and other applicable fees with respect thereto. As used in this Agreement, "Income" means all current and future interest, dividends, distributions and other payments and benefits in whatever form with respect to the Shares and Proceeds ("Proceeds" means all proceeds from the sale or other disposition of the Shares).

2.       Delivery of the Shares. Borrower and DMAGC  herewith deliver to the Note Holders and Secured Parties all certificates evidencing the Shares and separate assignments of all of the Shares (whether or not evidenced by certificates) duly executed in blank, together with irrevocable stock powers and proxies which provide the Note Holders and Secured Parties with full and complete voting power and authority respecting the Shares; provided, however, that any such powers and authority can only be exercisable by the Note Holders and Secured Parties upon the occurrence of an Event of Default (as defined herein) and after a five (5) Business Day opportunity to cure.

3.       Grant of Security Interest/Pledged Interests.

(a)       The Borrower and DMAGC hereby grant to the Note Holders and Secured Parties a security interest in the Shares delivered herewith, and in all Income and Proceeds of the foregoing, to secure the payment and performance of the Borrower's obligations to the Note Holders and Secured Parties under the Loan Agreement, Omnibus Agreement and Court Order and the other Loan Documents, including, but not limited to, repayment of the Loans and all interest, charges, and fees with respect thereto.  DMAGC acknowledges and consents to the UCC-1 financing statement that has been filed by the Note Holders and Secured Parties against DMAGC.

(b)       Except for the existing liens set forth on Exhibit A, DMAGC owns the Shares free and clear of any lien.  No effective financing statements or other form of lien notice concerning all or any part of the Shares is on file in any recording office, except for those set forth on Exhibit A in favor of the Note Holders and Secured Parties.

 

 

 

 

Page 1 of 4

 

 

4.       Rights Upon Event of Default. Upon the occurrence of an Event of Default under the Loan Agreement, Omnibus Agreement and Court Order, or any of the other Loan Documents, or breach of any of the terms and conditions of this Pledge Agreement, and after notice of such Event of Default by electronic mail or other written notice and a five (5) Business Day opportunity to cure period ("Event of Default"), the Note Holders and Secured parties shall then have all of the rights and remedies provided to them under said agreements and instruments and, in addition, the right to (a) without further action, transfer and take ownership of the Shares and underlying corporate assets; (b) exercise each and all the rights and privileges of a record holder of the Shares, including, without limitation, the right to sell, transfer, or otherwise dispose of the Shares and to retain and/or to collect any and all Income and Proceeds; and, (c) exercise all rights of a secured party under the Uniform Commercial Code as in effect in the State of New York upon the date hereof and under other applicable law, including, without limitation, to transfer ownership or private sale of the Shares or underlying corporate assets. All amounts the Note Holders and Secured Parties receive through the exercise of their rights as aforesaid shall be applied to the extent required to satisfy the obligations of the Borrower under the Loan Agreement, Omnibus Agreement and Court Order and the other Loan Documents.  Once all obligations of the Borrower to the Note Holders and Secured Partiers are satisfied, the Shares and any remaining collateral under the Loan Agreement, Omnibus Agreement and Court Order shall be returned to Borrower.

5.       Voting Rights.   Until all of the obligations of the Borrower to the Note Holders and Secured Parties are satisfied under the Notes and Loan Agreement, Onnibus Agreement and Court Order, the Note Holders and Secured Parties shall have all rights associated with ownership of the Shares; however, the Shares shall provide no voting rights except as set forth herein with regard to the rights of the Note Holders and Secured Parties in the Event of Default.  Further, until all of such obligations have been satisfied, the Note Holders and Secured Parties shall hold all of the Shares and stock powers.  For the avoidance of doubt, neither the Borrower nor DMAGC shall have any voting rights over the Shares from the date of this Pledge Agreement through the satisfaction of all the obligations and payment in full to the Note Holders and Secured Parties.  Upon the occurrence of an Event of Default the Note Holders and Secured Parties shall have full voting rights over the Shares.

6.       Protection of Shares. Borrower and DMAGC shall pay all taxes, charges and assessments against and relating to the Shares and do all acts necessary and appropriate to preserve and maintain the value thereof. In the event of the failure of Borrower or DMAGC to do so, Note Holders and Secured Parties may make such payments and take such actions on account thereof as it, in their sole discretion, deem desirable. Borrower shall reimburse Note Holders and Secured Parties immediately on demand for each and all such payments and any costs thereby incurred.

7.       Power of Attorney. Upon execution of this Agreement, Borrower and DMAGC hereby irrevocably appoint the Note Holders and Secured Parties as Borrower's attorney-in-fact, with full power of substitution, solely upon the occurrence of an Event of Default which is not cured within five (5) Business Days of receipt of notice via email or other commercially acceptable means, to (a) take any and all actions in Borrower/DMAGC's names and stead with respect to the Shares, (b) sell, transfer, assign or otherwise dispose of the Shares, (c) demand, collect, receive and recover all Income and Proceeds, and (d) execute in Borrower/DMAGC's name and deliver any documents and instruments required with respect to the Shares necessary for the exercise of the Note Holders' and Secured Parties' rights hereunder.

8.       Representations and Warranties of Borrower. Borrower represents and warrants that as of the date hereof:

(a)      DMAGC is the sole owner of the Shares and has the right, authority and capacity to pledge, transfer, assign, and grant a security interest in and to all right, title and interest in and to the Shares pursuant to this Pledge Agreement;

(b)      All of the capital stock of DMAGC is owned only by Roomlinx Inc. and all of the capital stock of Signal Point Telecommunications Corp., and Signal Share Software Development Corp., is owned by DMAGC;

(c)      The Shares are not subject to any right, security interest, lien, encumbrance or adverse claim of any third party except the interest of the Note Holders and Secured Parties arising under this Pledge Agreement;

(d)      This Pledge Agreement and consummation of the transactions set forth herein do not violate or constitute a breach of any indenture, agreement or undertaking to which Borrower is a party or by which Borrower is bound, or of any laws, statutes and regulations of the United States or any state or political subdivision thereof to which Borrower may be subject;

(e)      Except for this Pledge Agreement, there are no restrictions upon the sale, transfer or assignment of any of the Shares; and

(f)       The execution, delivery and performance hereof by Borrower are not in contravention of any prior obligation of Borrower or any obligation with respect to the Shares.

9.         Waivers. Borrower assents to any extension, modification or waiver of any obligation of Note Holders and Secured Parties.  No waiver or modification of any of the provisions hereof shall be binding on Note Holders and Secured Parties unless in writing and signed by Note Holders and Secured Parties and no waiver by Note Holders and Secured Parties of any rights they may have hereunder shall be deemed a waiver of any other rights they may have. All rights and remedies of Note Holders and Secured Parties shall be cumulative and may be exercised singly or concurrently.

10.        Costs. Borrower shall pay all costs including, without limitation, reasonable attorneys' fees, incurred by Note Holders and Secured Parties in protecting, enforcing or releasing any of their  rights hereunder.

 

 

 

 

Page 2 of 4

 

 

 

11.       Additional Documents. Upon the request of Note Holders and Secured Parties, Borrower and/or DMAGC shall execute and deliver such further documents and take such further action as Note Holders and Secured Parties may reasonably request in order to fully effectuate the purposes of this Pledge Agreement and to protect their rights hereunder. Upon satisfaction of all of the Borrower's obligations to the Note Holders and Secured Parties under the Loan Agreement, Omnibus Agreement and Court Order and the other Loan Documents, and the termination of this Pledge Agreement, the Note Holders and Secured Parties shall deliver the Shares to DMAGC.

12.       Miscellaneous.

(a)     This Pledge Agreement shall be interpreted under and construed in accordance with the laws of the State of New York.

(b)     Any notice or other communications required or permitted hereunder shall be in writing via email or other commercial means and shall be given as provided in the Loan Agreement, Omnibus Agreement and Court Order.

(c)     This Pledge Agreement may be executed in one or more counterparts, each of which shall be deemed an original, all of which together shall constitute one and the same instrument.

(d)     This Pledge Agreement shall be binding upon and inure to the benefit of the parties hereto, their successors and permitted assigns, and cannot be changed or modified except by an instrument in writing signed by the party to be charged therewith.

(e)     Borrow and DMAGC agree that, until the Obligations have been paid and performed in full, neither the Borrower nor DMAGC can seek protection under United States Bankruptcy Laws or the bankruptcy laws or any other jurisdiction without the express, written permission of the Note Holders and Secured Parties.

IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this agreement as of the date first above written.

 

 

 

 

 

Signature Page Follows

 

 

 

Page 3 of 4

 

  

DIGITAL MEDIA ACQUISITION GROUP CORP.

 

 By: /s/  Christopher Broderick                                                    

               Christopher Broderick, CEO

 

Signal Point Telecommunications Corp.

 

 

By: /s/  Christopher Broderick                                                     

              Christopher Broderick, COO

 

Signal Share Software Development Corp.

 

 

By: /s/  Christopher Broderick                                                    

             Christopher Broderick, COO

NOTE HOLDERS AND SECURED PARTIES:

Brookville Special Purpose Fund, LLC

 

By: /s/  Robert DePalo                                                                   

              Robert DePalo, Managing Member

Veritas High Yield Fund, LLC

 

By: /s/  Robert DePalo                                                                   

              Robert DePalo, Managing Member

Allied International Fund, Inc.

 

By: /s/  Rosemarie DePalo                                                           

             Rosemarie DePalo, CEO and Sole Shareholder

Roomlinx, Inc., solely as consenting Parent Corporation

 

By: /s/  Christopher Broderick                                                     

              Christopher Broderick, COO

 

 

 

 

 

 

Page 4 of 4

 

 

 

EXHIBIT A

EXISTING LIENS and UCC-1 FILED

 

Signal Point Telecommunications Corp.

	
1)

	
Brookville Special Purpose Fund, LLC

	
2)

	
Veritas High Yield Fund, LLC

	
3)

	
Allied International Fund, Inc.

	
4)

	
EBF Partners  LLC

	
5)

	
Powerup Lending Group Ltd.

 

 

Signal Share Software Development Corp.

	
1)

	
Brookville Special Purpose Fund, LLC

	
2)

	
Veritas High Yield Fund, LLC

	
3)

	
Allied International Fund, Inc.

 

 

 

 

 

 

 

  

A - 1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00258-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00258-of-00352.parquet"}]]