Document:

Exhibit 10.6

 

EXECUTION VERSION

 

AMENDED AND RESTATED 

PERFORMANCE GUARANTY

 

This AMENDED AND RESTATED PERFORMANCE
GUARANTY, (this “Agreement”) dated as of June 17, 2022, is between EXELA TECHNOLOGIES, INC. (“Exela”),
a Delaware corporation (the “Performance Guarantor”), and PNC BANK, NATIONAL ASSOCIATION, as administrative agent
(in such capacity, the “Administrative Agent”) for and on behalf of the Purchaser Parties and other Secured Parties,
from time to time (each of the foregoing, including the Administrative Agent, a “Beneficiary” and, collectively, the
 “Beneficiaries”) under the Amended and Restated Receivables Purchase Agreement, dated as of June 17, 2022 (as
amended, restated, supplemented or otherwise modified from time to time, the “Receivables Purchase Agreement”), among
Exela Receivables 3, LLC, a Delaware limited liability company (the “Seller”), Exela Technologies, Inc., as initial
servicer (in such capacity, the “Initial Servicer”), the Administrative Agent, the LC Bank, PNC Capital Markets LLC,
as structuring agent, and the other parties thereto. This Agreement hereby amends and restates in its entirety, as of the date hereof,
that certain Performance Guaranty, dated as of December 16, 2020 (as amended, supplemented or otherwise modified from time to time
prior to the date hereof, the “Original Agreement”), by and between the Performance Guarantor and Alter Domus (US)
LLC.

 

Capitalized terms used and not
otherwise defined in this Agreement are used as defined in, or by reference in, the Receivables Purchase Agreement. The interpretive
provisions set out in Section 1.02 and Section 1.04 of the Receivables Purchase Agreement shall be incorporated
herein and applied in the interpretation of this Agreement.

 

The parties hereto acknowledge
and agree that (i) this Agreement amends and restates and supersedes and replaces the Original Agreement as set forth in this Agreement,
and upon the occurrence of the Closing Date, this Agreement restates and, where applicable, amends the Original Agreement; (ii) the
execution and effectiveness of this Agreement does not constitute a novation under the Original Agreement as in effect prior to the date
hereof; and (iii) such obligations (as amended and restated and superseded and replaced hereby) are in all respects continuing as
provided in this Agreement and in the other Transaction Documents (as amended or amended and restated as of the date hereof).

 

Section 1.              Undertaking.
For value received by it and its Affiliates, Performance Guarantor hereby absolutely, unconditionally and irrevocably guarantees, assures
and undertakes (as primary obligor and not merely as surety) for the benefit of each of the Beneficiaries the due and punctual performance
and observance by each Originator and the Initial Servicer (and any of their respective successors or assigns in such capacity which
is an Affiliate of the Performance Guarantor) of all their respective covenants, agreements, undertakings, indemnities and other obligations
or liabilities (including, in each case, those related to any breach by any Originator or the Initial Servicer, as applicable, of its
respective representations, warranties and covenants), whether monetary or non-monetary and regardless of the capacity in which incurred
(including all of any Originator’s or the Initial Servicer’s payment, Deemed Collections, indemnity or similar obligations),
under any of the Transaction Documents (collectively, the “Guaranteed Obligations”), irrespective of: (A) the
validity, binding effect, legality, subordination, disaffirmance, enforceability or amendment, restatement, modification or supplement
of, or waiver of compliance with, this Agreement, the Transaction Documents or any documents related hereto or thereto, (B) any
change in the existence, formation or ownership of, or the bankruptcy, insolvency or reorganization of, or similar proceeding with respect
to the Seller, Exela Receivables Holdco 3, LLC (the “Pledgor”), any Originator, the Initial Servicer or any other
Person, (C) any extension, renewal, settlement, compromise, exchange, waiver, release or other modification in respect of any Guaranteed
Obligation (or any collateral security therefor, including the property sold, contributed (or purportedly sold or contributed) or otherwise
pledged or transferred by any Originator under the First Tier Purchase and Sale Agreement) pursuant to this Agreement, the other Transaction
Documents or any other related documents, (D) the existence of any claim, set-off, counterclaim or other right that Performance
Guarantor or any other Person may have against the Seller, the Pledgor, any Originator, the Initial Servicer or any other Person, (E) any
impossibility or impracticability of performance, illegality, force majeure, act of war or terrorism, any act of any Governmental Authority
or any other circumstance or occurrence that might otherwise constitute a legal or equitable discharge or defense available to, or provides
a discharge of, any Originator, the Initial Servicer or Performance Guarantor, (F) any Applicable Law affecting any term of any
of the Guaranteed Obligations or any Transaction Document, or rights of the Administrative Agent or any other Beneficiary with respect
thereto or otherwise, (G) the failure by the Administrative Agent or any Beneficiary to take any steps to perfect and maintain perfected
its interest in, or the impairment or release of, any Collateral, (H) any failure to obtain any authorization or approval from or
other action by, or to provide any notification to or make any filing, any Governmental Authority required in connection with the performance
of the Guaranteed Obligations or otherwise or (I) any other act or omission to act or delay of any kind by the Originators, Initial
Servicer or the Performance Guarantor or any other Person or any other circumstance whatsoever which might, but for the provisions of
this Section 1, constitute a legal or equitable discharge of the Performance Guarantor’s obligations hereunder except
as provided in the following paragraph.

 

    

     

    

 

Without limiting the
generality of the foregoing, Performance Guarantor agrees that if any Originator or the Initial Servicer shall fail in any manner
whatsoever to perform or observe any of its respective Guaranteed Obligations when the same shall be required to be performed or
observed under any applicable Transaction Document to which it is a party, then Performance Guarantor will itself duly and
punctually perform or observe or cause to be performed or observed such Guaranteed Obligations. It shall not be a condition to the
accrual of the obligation of the Performance Guarantor hereunder to perform or to observe any Guaranteed Obligation that the
Administrative Agent or any other Person shall have first made any request of or demand upon or given any notice to the Performance
Guarantor, the Seller, the Pledgor, any Originator, the Initial Servicer or any other Person or have initiated any action or
proceeding against the Performance Guarantor, the Seller, the Pledgor, any Originator, the Initial Servicer or any other Person in
respect thereof. Performance Guarantor also hereby expressly waives any defenses based on any of the provisions set forth above and
all defenses it may have as a guarantor or a surety generally or otherwise based upon suretyship, impairment of collateral or
otherwise in connection with the Guaranteed Obligations whether in equity or at law. Performance Guarantor agrees that its
obligations hereunder shall be irrevocable and unconditional. Performance Guarantor hereby also expressly waives diligence,
presentment, demand, protest or notice of any kind whatsoever, as well as any requirement that the Beneficiaries (or any of them)
exhaust any right to take any action against the Seller, the Pledgor, any Originator, the Initial Servicer or any other Person
(including the filing of any claims in the event of a receivership or bankruptcy of any of the foregoing), or with respect to any
collateral or collateral security at any time securing any of the Guaranteed Obligations, and hereby consents to any and all
extensions of time of the due performance of any or all of the Guaranteed Obligations. Performance Guarantor agrees that it shall
not exercise or assert any right which it may acquire by way of subrogation under this Agreement unless and until all Guaranteed
Obligations shall have been indefeasibly paid and performed in full. For the sake of clarity, and without limiting the foregoing, it
is expressly acknowledged and agreed that the Guaranteed Obligations do not include the payment or guaranty of any amounts to the
extent such amounts constitute recourse with respect to a Pool Receivable by reason of the insolvency, bankruptcy, lack of
creditworthiness or other financial inability to pay of the related Obligor.

 

Section 2.              Confirmation.
Performance Guarantor hereby confirms that the transactions contemplated by the Transaction Documents have been arranged among the Seller,
the Pledgor, the Originators, Initial Servicer and the Beneficiaries, as applicable, with Performance Guarantor’s full knowledge
and consent and any amendment, restatement, modification or supplement of, or waiver of compliance with, the Transaction Documents in
accordance with the terms thereof by any of the foregoing shall be deemed to be with Performance Guarantor’s full knowledge and
consent. Performance Guarantor hereby confirms (i) that on the date hereof, it directly or indirectly owns 100% of the Capital Stock
of each Originator, the Pledgor and the Seller and (ii) that it is in the best interest of Performance Guarantor to execute this
Agreement, inasmuch as Performance Guarantor (individually) and Performance Guarantor and its Affiliates (collectively) will derive substantial
direct and indirect benefit from the transactions contemplated by the Receivables Purchase Agreement and the other Transaction Documents.
Performance Guarantor agrees to promptly notify the Administrative Agent in the event that it ceases to directly or indirectly own 100%
of the Capital Stock of any Originator, the Pledgor or the Seller.

 

    

     

    

 

Section 3.              Representations
and Warranties. Each of the representations and warranties made by Exela pursuant to Section 7.02 of the Receivables
Purchase Agreement is incorporated by reference herein and made a part hereof, and the Performance Guarantor hereby represents and warrants
to the Administrative Agent and each other Purchaser Party on the date hereof that each such representation is true and correct, including,
to the extent applicable, with respect to it in its capacity as Performance Guarantor.

 

Section 4.              Covenants.
Each of Exela’s covenants set forth in Sections 8.04, 8.05, 8.06 and 8.08 of the Receivables Purchase
Agreement is incorporated by reference herein and made a part hereof, and the Performance Guarantor hereby agrees to perform such covenants
in accordance with the terms of the Receivables Purchase Agreement.

 

Section 5.              Miscellaneous.

 

(a)           Performance
Guarantor agrees that any payments hereunder will be applied in accordance with Section 4.01 of the Receivables Purchase
Agreement.

 

(b)           Any
payments hereunder shall be made in full in U.S. Dollars to the Administrative Agent in the United States without any set-off, deduction
or counterclaim; and Performance Guarantor’s obligations hereunder shall not be satisfied by any tender or recovery of another
currency except to the extent such tender or recovery results in receipt of the full amount of U.S. Dollars required hereunder.

 

(c)           No
amendment or waiver of any provision of this Agreement nor consent to any departure by Performance Guarantor therefrom shall be effective
unless the same shall be in writing and signed by the Administrative Agent and Performance Guarantor. No failure on the part of the Administrative
Agent or any other Beneficiary to exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof; nor shall
any single or partial exercise of any right hereunder preclude any other or further exercise thereof or the exercise of any other right.

 

(d)          This
Agreement shall bind and inure to the benefit of the parties hereto, the other Beneficiaries and their respective successors and permitted
assigns. Performance Guarantor shall not assign, delegate or otherwise transfer any of its obligations or duties hereunder without the
prior written consent of the Administrative Agent and each Required Purchaser. Each of the parties hereto hereby agrees that each of
the Beneficiaries not a signatory hereto shall be a third-party beneficiary of this Agreement.

 

(e)          THIS
AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED IN THE STATE OF NEW YORK.

 

    

     

    

 

(f)            EACH
OF THE PARTIES HERETO HEREBY AGREES TO WAIVE ITS RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING
HEREUNDER OR UNDER ANY OF THE OTHER TRANSACTION DOCUMENTS OR ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER OF THIS TRANSACTION.
THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE
TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW
AND STATUTORY CLAIMS. EACH PARTY HERETO ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP,
THAT EACH HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THIS AGREEMENT, AND THAT EACH WILL CONTINUE TO RELY ON THIS WAIVER IN ITS
RELATED FUTURE DEALINGS. EACH PARTY HERETO FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND
THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER IS IRREVOCABLE,
MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL WRITTEN WAIVER SPECIFICALLY REFERRING TO
THIS SECTION AND EXECUTED BY EACH OF THE PARTIES HERETO), AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS
OR MODIFICATIONS HERETO OR ANY OF THE OTHER TRANSACTION DOCUMENTS OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THE INVESTMENTS
MADE HEREUNDER. IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT.

 

(g)           EACH
PARTY HERETO HEREBY ACKNOWLEDGES AND AGREES THAT:

 

(I)           ALL
JUDICIAL PROCEEDINGS BROUGHT AGAINST PERFORMANCE GUARANTOR ARISING OUT OF OR RELATING HERETO OR ANY OTHER TRANSACTION DOCUMENT, OR
ANY OF THE GUARANTEED OBLIGATIONS, MAY BE BROUGHT IN ANY STATE OR FEDERAL COURT OF COMPETENT JURISDICTION IN THE STATE, COUNTY
AND CITY OF NEW YORK. BY EXECUTING AND DELIVERING THIS AGREEMENT, PERFORMANCE GUARANTOR, FOR ITSELF AND IN CONNECTION WITH ITS
PROPERTIES, IRREVOCABLY (I) ACCEPTS GENERALLY AND UNCONDITIONALLY THE NON-EXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS;
(II) WAIVES ANY DEFENSE OF FORUM NON CONVENIENS; (III) AGREES THAT SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY
SUCH COURT MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO IT AT ITS ADDRESS PROVIDED HEREIN IS
SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER IT IN ANY SUCH PROCEEDING IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES EFFECTIVE AND
BINDING SERVICE IN EVERY RESPECT; AND (IV) AGREES THAT PURCHASER PARTIES RETAIN THE RIGHT TO SERVE PROCESS IN ANY OTHER MANNER
PERMITTED BY LAW OR TO BRING PROCEEDINGS AGAINST IT IN THE COURTS OF ANY OTHER JURISDICTION.

 

(II)          PERFORMANCE
GUARANTOR CONSENTS TO THE SERVICE OF ANY AND ALL PROCESS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES OF SUCH PROCESS TO
IT AT ITS ADDRESS SPECIFIED IN THE RECEIVABLES PURCHASE AGREEMENT. NOTHING IN THIS PARAGRAPH SHALL AFFECT THE RIGHT OF THE ADMINISTRATIVE
AGENT OR ANY OTHER PURCHASER PARTY TO SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.

 

    

     

    

 

Section 6.             Termination
of Performance Guaranty. (a) This Agreement and Performance Guarantor’s obligations hereunder shall remain operative and
continue in full force and effect until the Final Payout Date; provided, that this Agreement and Performance Guarantor’s
obligations hereunder shall continue to be effective or shall be reinstated, as the case may be, if at any time payment or other satisfaction
of any of the Guaranteed Obligations is rescinded or must otherwise be restored or returned upon the bankruptcy, insolvency, or reorganization
of the Pledgor, any Originator, the Seller, Initial Servicer or otherwise, as applicable, as though such payment had not been made
or other satisfaction occurred, whether or not the Administrative Agent or any of the Beneficiaries (or their respective assigns) are
in possession of this Agreement. No invalidity, irregularity or unenforceability by reason of the bankruptcy, insolvency, reorganization
or other similar Applicable Laws, or any other Applicable Law or order of any Governmental Authority thereof purporting to reduce, amend
or otherwise affect the Guaranteed Obligations, shall impair, affect, or be a defense to or claim against the obligations of Performance
Guarantor under this Agreement.

 

(b)          This
Agreement shall survive the insolvency of the Pledgor, any Originator, the Initial Servicer, the Seller, any Beneficiary or any other
Person and the commencement of any case or proceeding by or against the Pledgor, any Originator, the Initial Servicer, the Seller or
any other Person under any bankruptcy, insolvency, reorganization or other similar Applicable Law. No automatic stay under any bankruptcy,
insolvency, reorganization or other similar Applicable Law with respect to the Pledgor, any Originator, the Initial Servicer, the Seller
or any other Person shall postpone the obligations of Performance Guarantor under this Agreement.

 

Section 7.              Set-off.
Each Beneficiary (and its assigns) is hereby authorized by Performance Guarantor at any time and from time to time, without notice to
Performance Guarantor (any such notice being expressly waived by Performance Guarantor) and to the fullest extent permitted by Applicable
Law, to set-off and apply any and all deposits (general or special, time or demand, provisional or final) and other sums at any time
held by, and other indebtedness at any time owing to, any such Beneficiary to or for the credit to the account of Performance Guarantor,
against any and all Guaranteed Obligations of Performance Guarantor, now or hereafter existing under this Agreement.

 

Section 8.              Entire
Agreement; Severability; No Party Deemed Drafter. This Agreement and the other Transaction Documents constitute the entire agreement
of the parties hereto with respect to the matters set forth herein. The rights and remedies herein provided are cumulative and not exclusive
of any remedies provided by Applicable Law or any other agreement, and this Agreement shall be in addition to any other guaranty of or
collateral security for any of the Guaranteed Obligations. Any provisions of this Agreement which are prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating
the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction. If the obligations of Performance Guarantor hereunder would otherwise be held or determined
to be avoidable, invalid or unenforceable in any action or proceeding on account of the amount of Performance Guarantor’s liability
under this Agreement, then, notwithstanding any other provision of this Agreement to the contrary, the amount of such liability shall,
without any further action by Performance Guarantor or any Beneficiary, be automatically limited and reduced to the highest amount that
is valid and enforceable as determined in such action or proceeding. Each of the parties hereto hereby agrees that no party hereto shall
be deemed to be the drafter of this Agreement.

 

    

     

    

 

Section 9.              Expenses.
In addition to the rights of indemnification granted under Section 10 hereof, whether or not the transactions
contemplated hereby shall be consummated, the Performance Guarantor agrees to pay promptly (a) all of each Beneficiary’s
actual and reasonable costs and expenses of preparation of the Transaction Documents and any consents, amendments, waivers or other
modifications thereto; (b) all the reasonable fees, expenses and disbursements of counsel to each Beneficiary in connection
with the negotiation, preparation, execution and administration of the Transaction Documents and any consents, amendments, waivers
or other modifications thereto and any other documents or matters requested by the Seller; (c) all the actual costs and
reasonable expenses of creating and perfecting security interests in favor of Administrative Agent, for the benefit of Secured
Parties, including filing and recording fees, expenses and taxes, stamp or documentary taxes, search fees, title insurance premiums
and reasonable fees, expenses and disbursements of counsel to each Beneficiary and of counsel providing any opinions that any
Purchaser Party may request in respect of the Collateral or security interests created pursuant to the Transaction Documents;
(d) all of each Beneficiary’s actual costs and reasonable fees, expenses for, and disbursements of any of such
Beneficiary’s auditors, accountants, consultants or appraisers whether internal or external, and all reasonable
attorneys’ fees (including allocated costs of internal counsel and expenses and disbursements of outside counsel) incurred by
each Beneficiary; (e) all the actual costs and reasonable expenses (including the reasonable fees, expenses and disbursements
of any appraisers, consultants, advisors and agents employed or retained by Administrative Agent and its counsel) in connection with
the custody or preservation of any of the Collateral; (f) all the actual costs and reasonable expenses of the Beneficiaries in
connection with the attendance at any meetings in connection with this Agreement and the other Transaction Documents; (g) all
other actual and reasonable costs and expenses incurred by each Beneficiary in connection with the syndication of the Investments
and Commitments and the negotiation, preparation and execution of the Transaction Documents and any consents, amendments, waivers or
other modifications thereto and the transactions contemplated thereby; and (h) after the occurrence of an Initial Servicer
Replacement Event, Unmatured Event of Default or an Event of Default, all costs and expenses, including reasonable attorneys’
fees (including allocated costs of internal counsel) and costs of settlement, incurred by any Beneficiary in enforcing any
Guaranteed Obligations of or in collecting any payments due from any Exela Party hereunder or under the other Transaction Documents
by reason of such Initial Servicer Replacement Event, Unmatured Event of Default or Event of Default (including in connection with
the sale of, collection from, or other realization upon any of the Collateral or the enforcement of the Transaction Documents) or in
connection with any refinancing or restructuring of the credit arrangements provided hereunder in the nature of a “work
out” or pursuant to any insolvency or bankruptcy cases or proceedings. The provisions contained in this Section 9
shall be in addition to, and not in replacement of, Section 14.04 of the Receivables Purchase Agreement.

 

Section 10.            Indemnities
by Performance Guarantor. Without limiting any other rights which any Beneficiary may have hereunder or under Applicable Law, Performance
Guarantor agrees to indemnify and hold harmless each Beneficiary and each of their respective Affiliates, and all successors, transferees,
participants and assigns and all officers, members, managers, directors, shareholders, controlling persons, employees and agents of any
of the foregoing (each a “PG Indemnified Party”) forthwith and on demand from and against any and all damages, losses,
claims, liabilities and related costs and expenses (including all filing fees, if any), including reasonable attorneys’, consultants’
and accountants’ fees and disbursements (all of the foregoing being collectively referred to as “Indemnified Amounts”)
incurred by any of them and arising out of, relating to, resulting from or in connection with: (i) any breach by Performance Guarantor
of any of its obligations or duties under this Agreement or any other Transaction Document to which it is a party in any capacity; (ii) the
inaccuracy of any representation or warranty made by Performance Guarantor hereunder, under any other Transaction Document to which it
is a party in any capacity or in any certificate or statement delivered pursuant hereto or to any other Transaction Document to which
it is a party in any capacity; (iii) the failure of any information provided to any such PG Indemnified Party by, or on behalf of,
Performance Guarantor, in any capacity, to be true and correct; (iv) the material misstatement of fact or the omission of a material
fact or any fact necessary to make the statements contained in any information provided to any such PG Indemnified Party by, or on behalf
of, Performance Guarantor, in any capacity, not materially misleading; (v) any negligence or misconduct on Performance Guarantor’s
part arising out of, relating to, in connection with, or affecting any transaction contemplated by this Agreement or any other Transaction
Document; (vi) the failure by Performance Guarantor to comply with any Applicable Law, rule or regulation with respect to this
Agreement, the transactions contemplated hereby, any other Transaction Document to which it is a party in any capacity, the Guaranteed
Obligations or otherwise; (vii) the failure of this Agreement to constitute a legal, valid and binding obligation of the Performance
Guarantor, enforceable against it in accordance with its terms; (viii) any civil penalty or fine assessed by OFAC or any other Governmental
Authority incurred connection with the Transaction Documents as a result of any action of the Performance Guarantor or any of its Affiliates;
(ix) any amounts payable by the Administrative Agent to a Collection Account Bank under any Account Control Agreement; or (x) the
failure or delay of Collections of Pool Receivables to be deposited directly into a Collection Account; provided, however,
notwithstanding anything to the contrary in this Section 10, Indemnified Amounts shall be excluded solely to the extent
determined in a final non-appealable judgment by a court of competent jurisdiction to (x) have resulted from the gross negligence
or willful misconduct on the part of such PG Indemnified Party or (y) constitute recourse with respect to a Pool Receivable by reason
of the insolvency, bankruptcy, lack of creditworthiness or other financial inability to pay of the related Obligor. The indemnification
provisions contained in this Section 10 shall be in addition to, and not in replacement of, Section 13.01 and
Section 13.02 of the Receivables Purchase Agreement.

 

    

     

    

 

Section 11.     Nonpetition
Covenant.     The Performance Guarantor, agrees that prior to the date that is one year (or, if longer,
the applicable preference period then in effect) and one day after the Final Payout Date, it shall not initiate against, or join any
Person in initiating against, the Seller, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under any
applicable federal or state bankruptcy or similar law, or the appointment of a receiver, liquidator, assignee, trustee, custodian, sequestrator
or other similar official of the Seller or any substantial part of its property or the ordering or winding up or liquidation of the affairs
of the Seller.

 

Section 12.            Addresses
for Notices. All notices and other communications hereunder shall, unless otherwise stated herein, be in writing (which shall include
facsimile communication and e-mail) and faxed, emailed or delivered, to each party hereto, at its address set forth under its name on
Schedule A of this Agreement or at such other address as shall be designated by such party in a written notice to the other
parties hereto. Notices and communications by (i) facsimile shall be effective when sent (and shall be followed by hard copy sent
by regular mail), (ii) e-mail shall be effective when transmitted to an e-mail address and (iii) other means shall be effective
when received; provided that notices and communications to the Administrative Agent shall not be effective until received by the
Administrative Agent and all notices from or to a Purchaser Party shall be sent through the Administrative Agent.

 

[Signatures Follow]

 

    

     

    

 

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

 

	 	EXELA
    TECHNOLOGIES, INC.,
	 	as
    Performance Guarantor
	 	 

	 	By:	/s/ Shrikant Sortur                       
	 	Name:  	Shrikant Sortur
	 	Title:	Chief Financial Officer

 

    

     

    

 

ACCEPTED AND ACKNOWLEDGED, as
of the date first written above.

 

	PNC
    BANK, NATIONAL ASSOCIATION,	 
	as
    Administrative Agent on behalf of the Beneficiaries	 
	 	 
	By:	              	 
	Name:  	 	 
	Title:	 	 

 

    

     

    

 

SCHEDULE A

 

ADDRESSES FOR NOTICE

 

	If
    to Performance Guarantor:	 

 

	Exela Technologies, Inc.
	2701 E. Grauwyler
    Road, Irving, TX 75061
	Attn: 
    Secretary
	Email: legalnotices@exelatech.com
	 
	If to Administrative
    Agent:
	 
	PNC
    Bank, National Association

    The Tower at PNC Plaza

    300 Fifth Avenue, 11th Floor

    Pittsburgh, PA 1522

    Attention: Brian Stanley

    Email: brian.stanley@pnc.com and 

ABFAAdmin@pnc.comExhibit 10.1

    
      
        
           

          

        

        
          SHARE AND WARRANT TRANSFER AGREEMENT

           

          This SHARE AND WARRANT TRANSFER AGREEMENT dated as of June 8, 2022 (this “Agreement”), is made by and among
            EM Horizon Investments, a Cayman Islands limited liability company (the “Transferor”), New Emerging Markets Horizon, a Cayman Islands limited liability company (the “Transferee”),
            Emerging Markets Horizon Corp., a Cayman Islands exempted company (the “Company”) and the other undersigned parties listed on the signature pages hereto (the “Independent
              Directors”).

           

          WHEREAS, pursuant to those certain written resolutions of the Company dated as of May 6, 2021, the one
            Class B ordinary share, par value $0.0001, of the Company originally issued to WNL Limited as subscriber by operation of law on registration of the Company (the “Subscriber Share”) was transferred to the
            Transferor.

           

          WHEREAS, the Company and the Transferor are parties to that certain Securities Subscription Agreement,
            dated as of May 11, 2021 (the “Founder Shares Subscription Agreement”), whereby the Company issued and the Transferor purchased for good and valuable consideration 7,187,499 Class B ordinary shares,
            $0.0001 par value, of the Company (together with the Subscriber Share, the “Founder Shares”).

           

          WHEREAS, the Company and the Transferor are parties to those certain Securities Assignment Agreements with
            each of the Independent Directors, each dated as of December 8, 2021, whereby the Transferor assigned and transferred for good and valuable consideration 12,500 Founder Shares to each of the Independent Directors and agreed to assign and
            transfer an additional 12,500 Founder Shares to each of the Independent Directors upon the satisfaction of certain conditions set forth therein.

           

          WHEREAS, the Company and the Transferor are parties to that certain Private Placement Warrants Purchase
            Agreement, dated as of December 8, 2021 (the “Private Placement Warrants Purchase Agreement”), whereby the Company issued and the Transferor purchased for good and valuable consideration 9,000,000
            warrants (the “Private Placement Warrants”), each Private Placement Warrant entitling the holder to purchase one Class A ordinary share of the Company, par value $0.0001 (a “Share”, and collectively, the “Shares”) at an exercise price of $11.50 per Share.

           

          WHEREAS, substantially concurrently with the entry into this Agreement, the Company, the Transferor, the
            Independent Directors (collectively, the “Original Parties”) and the Transferee shall enter into a novation and amendment agreement (the “Novation and Amendment Agreement”),

            whereby the Transferor shall novate and the Transferee shall assume all of the rights and obligations of the Transferor under the agreements set forth therein (the “Novation”) and the Original Parties
            shall consent to the Novation upon effectiveness of the Transfer (as defined below).

           

          WHEREAS, as of the date hereof, the Transferor is the registered holder of a total of 7,150,000 Founder
            Shares and 9,000,000 Private Placement Warrants, and desires to transfer its rights, title and interest in such Founder Shares and Private Placement Warrants (the “Transfer”) to the Transferee and the
            Transferee desires to accept the Transfer.

           

          NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements contained
            herein, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound, the parties hereto hereby agree as follows:

           

          
            1

            
              

          

          	1	
                  Transfer of the Founder Shares and Private Placement Warrants

                

           

          	1.1	
                  The Transferor hereby transfers to the Transferee:

                

           

          	

                	1.1.1	
                  7,150,000 Founder Shares; and

                

           

          	

                	1.1.2	
                  9,000,000 Private Placement Warrants.

                

           

          In order to effectuate the foregoing Transfer, the Transferor shall (i) promptly submit an appropriate instruction letter and an irrevocable stock
            power (with applicable indemnification letter in lieu of a medallion signature guarantee, if applicable) to the Company’s transfer agent, Continental Stock Transfer & Trust Company (the “Transfer Agent”),
            for re-issuance to the Transferee as indicated above and (ii) procure that counsel to the Company deliver an opinion to CST in a form reasonably satisfactory to the Transfer Agent that registration of the Founder Shares or the Private Placement
            Warrants under the Securities Act of 1933, as amended (the “Securities Act”) is not required. The Transferee acknowledges and agrees that (i) the Founder Shares to be transferred are subject to the terms
            of a transfer agency and registrar services agreement dated as of December 8, 2021, by and between the Company and the Transfer Agent, (ii) the Private Placement Warrants to be transferred are subject to the terms of a warrant agreement dated
            as of December 8, 2021, by and between the Company and Continental Stock Transfer & Trust Company acting as warrant agent and (iii) the Transferee will execute such documents as are required by the Transfer Agent to effectuate the Transfer.

           

          	2	
                  Representations and Warranties of the Transferor

                

           

          To induce the Transferee to accept the Founder Shares and the Private Placement Warrants from the Transferor, the Transferor hereby represents and
            warrants to the Transferee and agrees with the Transferee as follows:

           

          	2.1	
                  The Transferor is a Cayman Islands limited liability company, validly existing and in good standing under the laws of the Cayman Islands and possesses all requisite legal
                    capacity, power and authority to enter into the Agreement and to carry out the transactions contemplated by this Agreement. Upon execution and delivery by the parties thereto, this Agreement will be a legal, valid and binding agreement
                    of the Transferor, enforceable against the Transferor in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement of
                    creditors’ rights generally and subject to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

                

           

          	2.2	
                  The execution, delivery and performance of this Agreement and the consummation by the Transferor of the transactions contemplated hereby do not violate, conflict with or
                    constitute a default under (i) the formation and governing documents of the Transferor, (ii) any agreement, indenture or instrument to which the Transferor is a party or (iii) any law, statute, rule or regulation to which the Transferor
                    is subject, or any agreement, order, judgment or decree to which the Transferor is subject.

                

           

          	2.3	
                  There are no actions, suits, investigations or proceedings pending, threatened against or affecting the Transferor which: (i) seek to restrain, enjoin, prevent the consummation of
                    or otherwise affect the transactions contemplated by this Agreement or (ii) question the validity or legality of any transactions or seeks to recover damages or to obtain other relief in connection with any transactions.

                

           

          
            2

            
              

          

          	2.4	
                  The Founder Shares are, and the Shares issuable upon exercise of the Private Placement Warrants will be, duly and validly issued, fully paid and non-assessable, and the Shares
                    issuable upon exercise of the Private Placement Warrants have been reserved for issuance. Upon registration in the Company’s register of members, the Transferee will have good title to the Founder Shares, the Private Placement Warrants
                    and the Shares issuable upon exercise of such Private Placement Warrants (collectively, the “Securities”), free and clear of all liens, claims and encumbrances of any kind, other than (i) transfer
                    restrictions hereunder and under the other agreements contemplated hereby, (ii) transfer restrictions under federal and state securities laws, and (iii) liens, claims or encumbrances imposed due to the actions of the Transferee.

                

           

          	2.5	
                  Neither the Transferor nor, to its actual knowledge, any of its affiliates, members, officers, directors or beneficial shareholders of 20% or more of its outstanding securities,
                    has experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities Act.

                

           

          	2.6	
                  Neither the Transferor nor any of its affiliates has, prior to the date hereof, made any offer or sale of any securities of the Company which are required to be "integrated"
                    pursuant to the Securities Act, or the rules and regulations of the U.S. Securities and Exchange Commission thereunder, with the Transfer.

                

           

          	3	
                  Representations and Warranties of the Transferee

                

           

          To induce the Transferor to transfer the Founder Shares and the Private Placement Warrants to the Transferee, the Transferee hereby represents and
            warrants to the Transferor and agrees with the Transferor as follows:

           

          	3.1	
                  The Transferee is a Cayman Islands limited liability company, validly existing and in good standing under the laws of the Cayman Islands and possesses all requisite legal
                    capacity, power and authority to enter into the Agreement and to carry out the transactions contemplated by this Agreement. Upon execution and delivery by the parties thereto, this Agreement will be a legal, valid and binding agreement
                    of the Transferee, enforceable against the Transferee in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement of
                    creditors’ rights generally and subject to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

                

           

          	3.2	
                  The execution, delivery and performance of this Agreement and the consummation by the Transferee of the transactions contemplated hereby do not violate, conflict with or
                    constitute a default under (i) the formation and governing documents of the Transferee, (ii) any agreement, indenture or instrument to which the Transferee is a party or (iii) any law, statute, rule or regulation to which the Transferee
                    is subject, or any agreement, order, judgment or decree to which the Transferee is subject.

                

           

          	3.3	
                  The Transferee is: (i) sophisticated in financial matters and able to evaluate the risks and benefits of the investment in the Securities and (ii) able to bear the economic risk
                    of its investment in the Securities for an indefinite period of time. The Securities have not been registered under the Securities Act and therefore cannot be sold unless subsequently registered under the Securities Act or an exemption
                    from such registration is available. The Transferee is capable of evaluating the merits and risks of its investment in the Company and has the capacity to protect its own interests.

                

           

          
            3

            
              

          

          	3.4	
                  The Transferee is acquiring the Securities solely for investment purposes, for the Transferee’s own account and not for the account or benefit of any other person, and not with a
                    view towards, or for resale in connection with, any public sale, distribution or dissemination thereof. The Transferee did not decide to enter into this Agreement as a result of any general solicitation or general advertising within the
                    meaning of Rule 502(c) of Regulation D under the Securities Act.

                

           

          	3.5	
                  The Transferee is an “accredited investor” as such term is defined in Rule 501(a) of Regulation D under the Securities Act, and the Transferee has not experienced a disqualifying
                    event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities Act.

                

           

          	3.6	
                  The Transferee understands that it is acquiring the Securities in reliance on a private placement exemption to “accredited investors” within the meaning of Section 501(a) of
                    Regulation D under the Securities Act, or similar exemptions from the registration requirements of the United States federal and state securities laws, and that the Transferor is relying upon the truth and accuracy of, and the
                    Transferee’s compliance with, the representations and warranties of the Transferee set forth herein in order to determine the availability of such exemptions and the eligibility of the Transferee to acquire such Securities.

                

           

          	3.7	
                  The Transferee has been furnished with all materials relating to the business, finances and operations of the Company and materials relating to the Securities which have been
                    requested by the Transferee. The Transferee has been afforded the opportunity to ask questions of the executive officers and directors of the Company. The Transferee understands that its investment in the Securities involves a high
                    degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary to make an informed investment decision with respect to the acquisition of the Securities.

                

           

          	3.8	
                  The Transferee understands that no United States federal or state agency or any other government or governmental agency has passed on or made any recommendation or endorsement of
                    the Securities or the fairness or suitability of the investment in the Securities by the Transferee nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

                

           

          	3.9	
                  The Transferee understands that: (a) the Securities have not been and are not being registered under the Securities Act or any state securities laws, and may not be offered for
                    sale, sold, assigned or transferred unless (1) subsequently registered thereunder or (2) sold in reliance on an exemption therefrom; (b) the Founder Shares and Private Placement Warrants are “restricted securities” within the meaning of
                    Rule 144(a)(3) under the Securities Act; (c) the certificates representing the Founder Shares and Private Placement Warrants will contain a legend in respect of such restrictions; and (d) except as specifically set forth in in that
                    certain Registration and Shareholder Rights Agreement, dated as of December 8, 2021, by and among the Original Parties (the “Registration and Shareholder Rights Agreement”), neither the Company
                    nor any other person is under any obligation to register the Securities under the Securities Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder. In this regard, the Transferee
                    understands that the Commission has taken the position that promoters or affiliates of a blank check company and their transferees, both before and after an initial business combination, are deemed to be “underwriters” under the
                    Securities Act when reselling the securities of a blank check company. Based on that position, Rule 144 adopted pursuant to the Securities Act would not be available for resale transactions of the Securities despite technical compliance
                    with the requirements of such Rule, and the Securities can be resold only through a registered offering or in reliance upon another exemption from the registration requirements of the Securities Act.

                

           

          
            4

            
              

          

          	3.10	
                  The Transferee agrees to vote the Founder Shares in favor of an initial business combination that the Company negotiates and submits for approval to the Company’s shareholders and
                    shall not seek redemption or repurchase with respect to such Founder Shares. Additionally, the Transferee agrees not to tender any Founder Shares in connection with a tender offer presented to the Company’s shareholders in connection
                    with an initial business combination negotiated by the Company.

                

           

          	4	
                  Other Agreements, Acknowledgments and Waivers

                

           

          	4.1	
                  The Original Parties and the Transferee hereby agree and acknowledge that the Transfer constitutes a permissible Transfer (as defined in that certain Letter Agreement, dated as of
                    December 8, 2021, by and among the Original Parties (the “Insider Letter”)) of the Founder Shares and the Private Placement Warrants for purposes of Section 5(c) of the Insider Letter and is not
                    otherwise prohibited by any other provision of the Insider Letter.

                

           

          	4.2	
                  The Original Parties and the Transferee hereby agree and acknowledge that the Novation and Amendment Agreement constitutes a written agreement whereby the Transferee is agreeing
                    to be bound by the transfer restrictions set forth in the Insider Letter, for purposes of Section 5(c) of the Insider Letter.

                

           

          	4.3	
                  The Original Parties and the Transferee hereby agree and acknowledge that the Transfer constitutes a transfer of Registrable Securities (as defined in the Registration and
                    Shareholder Rights Agreement) by the Transferor to a Permitted Transferee (as defined in the Registration and Shareholder Rights Agreement) pursuant to Section 6.2.2 of the Registration and Shareholder Rights Agreement, that the
                    Novation and Amendment Agreement constitutes sufficient written notice to the Company for purposes of Section 6.1 and Section 6.2.5(i) of the Registration and Shareholder Rights Agreement and that the Novation and Amendment Agreement is
                    satisfactory to the Company for purposes of Section 6.2.5(ii) of the Registration and Shareholder Rights Agreement

                

           

          	4.4	
                  The Company hereby waives Section 5.1 of the Founder Shares Subscription Agreement with respect to the delivery of an opinion to the Company with respect to the Transfer.

                

           

          	5	
                  Waiver of Liquidation Distributions; Redemption Rights

                

           

          The Transferee hereby waives any and all right, title, interest or claim of any kind in or to any distributions by the Company from the trust
            account in respect of the Founder Shares and the Private Placement Warrants acquired by the Transferee pursuant to this Agreement, which trust account has been established for the benefit of the Company’s public shareholders and into which
            substantially all of the proceeds of the IPO have been deposited (the “Trust Account”), in the event of a liquidation of the Company upon the Company’s failure to timely complete an initial business
            combination. For purposes of clarity, in the event the Transferee purchases any additional Shares in the aftermarket, such Shares so purchased shall be eligible to receive any liquidating distributions by the Company. However, in no event will
            the Transferee have the right to redeem any Shares into funds held in the Trust Account upon the successful completion of an initial business combination.

           

          
            5

            
              

          

          	6	
                  Miscellaneous

                

           

          	6.1	
                  Further Assurances. The parties hereto agree to execute such further instruments and to take such further action as may reasonably be
                    necessary to carry out the intent of this Agreement.

                

           

          	6.2	
                  Entire Agreement. This Agreement constitutes and contains the entire agreement and understanding of the parties with respect to the
                    subject matter hereof and supersedes all prior agreements, understandings, arrangements, promises commitments, duties and obligations, 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.

                

           

          	6.3	
                  Severability. If any provision of this Agreement is held to be illegal, invalid, unreasonable or unenforceable by any court of competent
                    jurisdiction, then such provision shall be deemed limited to the extent that such court shall be deemed limited to the extent that such court deems it legal valid, reasonable or enforceable, and as so limited shall remain in full force
                    and effect. In the event that such court shall deem any such provision, or portion thereof, wholly unenforceable the remaining provisions of this Agreement shall nevertheless remain in full force and effect.

                

           

          	6.4	
                  Assignment; Successors. The rights and obligations under this Agreement may not be assigned by any
                    party hereto without the prior written consent of all of the other parties hereto. All statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto and shall inure to the
                    benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement shall be construed to create any rights or obligations except among the parties hereto, and no person or entity shall be regarded
                    as a third-party beneficiary of this Agreement.

                

           

          	6.5	
                  Governing Law; Venue. This Agreement shall be governed by the laws of the State of New York without regard to its conflict of laws
                    principles. The parties hereby agree that any action, proceeding or claim against a party arising out of or relating in any way to this Agreement shall be brought and enforced in the state or federal courts of the State of New York, and
                    irrevocably submits to such jurisdiction, which shall be exclusive. Each of the parties hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

                

           

          	6.6	
                  Modification. This Agreement may not be amended or supplemented at any time unless by a writing executed by the parties hereto.

                

           

          	6.7	
                  Headings. The headings in this Agreement are solely for convenience or reference and shall not affect its interpretation.

                

           

          	6.8	
                  Counterparts; Facsimile. This Agreement may be executed in any number of original or electronic copy counterparts, each of which when so
                    executed and delivered shall for all purposes be deemed to be an original, and all such counterparts shall together constitute one and the same instrument. This Agreement or any counterpart may be executed via facsimile, PDF or other
                    electronic transmission, and any such executed facsimile, PDF or electronic copy shall be treated as an original.

                

           

          [Signature pages follow.]

           

          

          
            6

            
              

          

          IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their duly authorized officers as of the date first
            written above.

           

          	
                  EM HORIZON INVESTMENTS, AS TRANSFEROR

                
	  
	By: 	
                  /s/ Jonathan Neill

                

          	Name:	
                  Jonathan Neill

                
	Title:	
                  Authorized Signatory of FPP Capital Advisers, Managing Member of EM Horizon Investments

                

           

          

          [Signature page to Share and Warrant Transfer Agreement]

           

          
            
              

          

          
            	
                    
                      NEW EMERGING MARKETS HORIZON, AS TRANSFEREE

                    

                  
	  
	By: 	
                    /s/ Jonathan Neill

                  

            	Name:	Jonathan Neill
	Title:	
                    Authorized Signatory of FPP Capital Advisers, Managing Member of New Emerging Markets Horizon

                  

             

          

            [Signature page to Share and Warrant Transfer Agreement]

           

          
            
              

          

          
            	
                    
                      EMERGING MARKETS HORIZON CORP.

                    

                  
	  
	By: 	
                    /s/ Jonathan Neill

                  

            	Name:	
                    Jonathan Neill

                  
	Title:	
                    CEO

                  

             

          

            [Signature page to Share and Warrant Transfer Agreement]

           

          
            
              

          

          	By:	
                  /s/ Enrique Fernandez Aisa

                

          	Name:	
                  Enrique Fernandez Aisa

                

          

          

          [Signature page to Share and Warrant Transfer Agreement]

           

          

          
            
              

          

          
            	By:	
                    /s/ Konrad Kozik

                  

            	Name:	
                    Konrad Kozik

                  

            

            

          

          [Signature page to Share and Warrant Transfer Agreement]

          

          

          
            
              

          

          
            
              	By:	/s/ Herbert Stepic

              	Name:	
                      Herbert Stepic

                    

              

              

            

          

          [Signature page to Share and Warrant Transfer Agreement]

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