Document:

EX-10.1

 Exhibit 10.1 

AMENDMENT NO. 1 TO 

INVESTMENT MANAGEMENT TRUST AGREEMENT 

THIS AMENDMENT NO. 1 TO THE INVESTMENT MANAGEMENT TRUST AGREEMENT (this “Amendment”) is made as of February 13,
2019, by and between Modern Media Acquisition Corp., a Delaware corporation (the “Corporation”), and Continental Stock Transfer & Trust Company, a New York corporation (the “Trustee”).
Capitalized terms contained in this Amendment, but not specifically defined in this Amendment, shall have the meanings ascribed to such terms in the Original Agreement (as defined below). 

WHEREAS, on May 17, 2017, the Corporation consummated an initial public offering (the “Offering”) of units of the
Corporation’s equity securities, each such unit comprised of one share of the Corporation’s common stock, par value $0.0001 per share (“Common Stock”), one right to receive
one-tenth of one share of Common Stock upon the consummation of the Corporation’s initial business combination, and one-half of one warrant to purchase one share of
Common Stock; 
 WHEREAS, the Corporation entered into an Underwriting Agreement with Macquarie Capital (USA) Inc., as representative of the
several underwriters named therein (the “Underwriting Agreement”); 
 WHEREAS, $209,070,000 of the gross proceeds of
the Offering and sale of the Placement Warrants (as defined in the Underwriting Agreement) were delivered to the Trustee to be deposited and held in a segregated trust account located in the United States (the “Trust
Account”) for the benefit of the Corporation and the holders of the Corporation’s Common Stock included in the Units issued in the Offering pursuant to the investment management trust agreement made effective as of May 17,
2017, by and between the Corporation and the Trustee (the “Original Agreement”); 
 WHEREAS, the Corporation has
sought the approval of its Public Stockholders at a meeting of its stockholders to: (i) extend the date by which the Corporation must complete a business combination from February 17, 2019 to June 17, 2019 (the “Extension
Amendment”) and (ii) extend the date on which the Trustee must liquidate the Trust Account if the Corporation has not completed a business combination from February 17, 2019 to June 17, 2019 (the “Trust
Amendment”); 
 WHEREAS, holders of at least sixty-five percent (65%) of the Corporation’s outstanding shares of common
stock approved the Extension Amendment and the Trust Amendment; and 
 WHEREAS, the parties desire to amend and restate the Original
Agreement to, among other things, reflect amendments to the Original Agreement contemplated by the Trust Amendment. 
 NOW, THEREFORE, in
consideration of the mutual agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows: 

1.    Amendment of Trust Agreement. Section 1(i) of the Original Agreement is hereby amended and restated in
its entirety as follows: 
 “Commence liquidation of the Trust Account only (x) after and promptly after receipt of, and only in
accordance with, the terms of a letter from the Corporation (“Termination Letter”) in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B signed on behalf of the Corporation by
its Chief Executive Officer, President, Chief Financial Officer, General Counsel, Secretary or Chairman of the board of directors (the “Board”) or other authorized officer of the Corporation, and complete the liquidation of
the Trust Account and distribute the Property in the Trust Account, including interest earned on the trust account deposits (which 

 
interest shall be net of taxes payable and less up to $50,000 to the Corporation to pay dissolution expenses, it being understood that the Trustee has no obligation to monitor or question the
Corporation’s position that an allocation has been made for taxes payable), only as directed in the Termination Letter and the other documents referred to therein or (y) on June 17, 2019, if a Termination Letter has not been received
by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance with the procedures set forth in the Termination Letter attached as Exhibit B and the Property in the Trust Account, including interest
earned on the trust account deposits (which interest shall be net of any taxes payable and less up to $50,000 to the Corporation to pay dissolution expenses), shall be distributed to the Public Stockholders of record as of such date;
provided, however, that in the event the Trustee receives a Termination Letter in a form substantially similar to Exhibit B hereto, or if the Trustee begins to liquidate the Property because it has received no such Termination
Letter by June 17, 2019, the Trustee shall keep the Trust Account open until twelve (12) months following the date the Property has been distributed to the Public Stockholders;” 

2.    Miscellaneous Provisions. 

2.1.    Successors. All the covenants and provisions of this Amendment by or for the benefit of the Corporation or
the Trustee shall bind and inure to the benefit of their permitted respective successors and assigns. 

2.2.    Severability. This Amendment shall be deemed severable, and the invalidity or unenforceability of any term
or provision hereof shall not affect the validity or enforceability of this Amendment or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall
be added as a part of this Amendment a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable. 

2.3.    Applicable Law. The validity, interpretation and performance of this Amendment shall be governed in all
respects by the laws of the State of New York, without giving effect to conflict of laws. 

2.4.    Counterparts. This Amendment may be executed in any number of original or facsimile counterparts and each
of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 

2.5.    Effect of Headings. The section headings herein are for convenience only and are not part of this Amendment
and shall not affect the interpretation thereof. 
 2.6.    Entire Agreement. The Original Agreement, as modified
by this Amendment, constitutes the entire understanding of the parties and supersedes all prior agreements, understandings, arrangements, promises and commitments, whether written or oral, express or implied, relating to the subject matter hereof,
and all such prior agreements, understandings, arrangements, promises and commitments are hereby canceled and terminated. 
 [Signature
page follows] 

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

			
	Continental Stock Transfer & Trust Company, as Trustee
		
	By:	 	 /s/

	Name:	 	
	Title:	 	
	
	Modern Media Acquisition Corp.
		
	By:	 	 /s/ Lewis W. Dickey, Jr.

	Name:	 	Lewis W. Dickey, Jr.
	Title:	 	President and Chief Executive OfficerExhibit 4.4

 

AMENDMENT TO 12.75%
ORIGINAL ISSUE DISCOUNT

SENIOR
SECURED CONVERTIBLE DEBENTURE 

DUE
June 29, 2021

 

This Amendment to the
12.75% ORIGINAL ISSUE DISCOUNT SENIOR SECURED CONVERTIBLE DEBENTURE DUE June 29, 2021
(this “Amendment”), dated February 11, 2019, is made by and between LiveXLive Media, Inc., a Delaware corporation
(the “Company”) and [JGB] (“Holder”).

 

WHEREAS, on June 29,
2018, the Company executed and delivered to Holder a certain 12.75% Original Issue Discount Senior Secured Convertible Debenture
due June 29, 2021 (the “Debenture”) in the original principal amount of $10,640,000;

 

WHEREAS, on the date
hereof the Company and the Holder entered into an Amendment Agreement whereby, among other things, the Holder has agreed to make
an additional senior secured investment in the Company of $3,192,000 ($3,000,000 of actual availability after deduction of original
issue discount) (the “Additional Investment”);

 

WHEREAS, the parties
wish to amend the Debenture in accordance with Section 8(e) thereof in order to give effect to the foregoing:

 

NOW, THEREFORE, in
consideration of the recitals, the mutual promises, and agreements herein contained and other good and valuable consideration,
receipt of which is hereby acknowledged, the parties hereto agree as follows:

 

1. Defined Terms.
Capitalized terms used in this Amendment but not otherwise defined herein shall have the respective meaning given such terms in
the Debenture.

 

2. Confirmation
of Outstanding Balance. Without giving effect to the Additional Investment, the parties acknowledge and agree that the outstanding
principal balance of the Debenture as of the date hereof is $__________ and the accrued and unpaid Interest thereon is $___________.

 

3. Amendments to
the Debenture. The Debenture is amended as follows:

 

(a) The Company
acknowledges receipt of the Additional Investment on the date hereof and the Debenture is hereby amended by increasing the face
amount of the Debenture by $3,192,000. After giving effect to the Additional Investment the outstanding principal balance of the
Debenture as of the date hereof is $_________.

 

(b) The definition
of “Monthly Allowance” set forth in Section 1 of the Debenture is amended by replacing the reference to “$170,000”
with “$221,000.”

 

    -1-

     

    

 

(c) The definition
of “Prepayment Amount” set forth in Section 1 of the Debenture is amended and restated as follows:

 

“Prepayment
Amount” means, with respect to any payment of this Debenture prior to the Maturity Date pursuant to Section 2(e), Section
2(f), or Section 7(b), the entire outstanding principal balance (including, for the avoidance of doubt, any original issue discount)
of this Debenture, all accrued and unpaid interest thereon, together with a prepayment premium (the “Prepayment Premium”)
equal to the following: (a) if the Debenture is prepaid on or after the Original Issuance Date, but on or prior to December 31,
2019, all remaining regularly scheduled interest to be paid on this Debenture from the date of such payment of this Debenture to,
but excluding, December 31, 2019, plus 10% of the entire outstanding principal balance of this Debenture, (b) if this Debenture
is prepaid after December 31, 2019, but on or prior to June 30, 2020, 10% of the entire outstanding principal balance of this Debenture;
(c) if this Debenture is prepaid on or after June 30, 2020, but on or prior to December 31, 2020, 8% of the entire outstanding
principal balance of this Debenture; and (d) if this Debenture is prepaid on or after December 31, 2020, but prior to the Maturity
Date, 6% of the entire outstanding principal balance of this Debenture.

 

(d) Section
2(f) of the Debenture is hereby amended by replacing the reference to “Prepayment Premium” with the following: “a
ratable portion of the Prepayment Premium based on the principal amount of this Debenture being repaid”.

 

(e) Section
6(b) of the Debenture is hereby amended by replacing the reference to “$5,000,000” therein with “$6,500,000.”

 

(f) Schedule
E to the Debenture is amended and restated as follows:

 

Schedule E

 

Financial Covenant

 

	Calendar Quarter	 	EBITDA Target	 	 	Revenue Target	 
	December 31, 2018	 	$	(2,600,000	)	 	$	6,645,595	 
	March 31, 2019	 	$	(1,970,550	)	 	$	6,463,884	 
	June 30, 2019	 	$	(6,565,217	)	 	$	10,827,566	 
	September 30, 2019	 	$	(6,927,397	)	 	$	14,517,541	 
	December 31, 2019	 	$	(7,401,139	)	 	$	15,004,979	 
	March 31, 2020	 	$	(6,649,303	)	 	$	12,814,296	 
	June 30, 2020	 	$	(6,658,498	)	 	$	17,858,320	 
	September 30, 2020	 	$	(7,673,350	)	 	$	23,545,985	 
	December 31, 2020	 	$	(8,395,590	)	 	$	22,983,779	 
	March 31, 2021	 	$	(8,414,084	)	 	$	19,064,209	 

 

    -2-

     

    

 

4. Governing Law. This Amendment
shall be governed by, and construed in accordance with, the laws of the State of New York. The parties agree that the state and
federal courts located in New York County, New York shall have exclusive jurisdiction over any action, proceeding or dispute arising
out of this Amendment and the parties submit to the personal jurisdiction of such courts.

 

5. Counterparts.
This Amendment may be executed in any number of counterparts, all of which shall constitute one and the same agreement, and any
party hereto may execute this Amendment by signing and delivering one or more counterparts. Delivery of an executed counterpart
of this Amendment electronically or by facsimile shall be effective as delivery of an original executed counterpart of this Amendment.

 

[Signature Page Follows]

 

    -3-

     

    

 

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

 

	 	LIVEXLIVE MEDIA, INC. 
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	             
	 	 	 
	 	[JGB]
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:

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