Document:

Exhibit 10.31

  

Loan
Agreement

  

THIS
LOAN AGREEMENT (the “Agreement”), is entered into as of November 2, 2012 between ICEWEB, INC.,
a Delaware corporation (the “Borrower”) and IWEB GROWTH FUND, LLC, a Virginia limited liability
company (the “Lender”).

 

Borrower
and Lender, with the intent to be legally bound, agree as follows:

 

1.Loan.
Lender may make one or more loans, in the total principal amount of $1,500,000.00 (collectively, the "Loan")
to Borrower subject to the terms and conditions and in reliance upon the representations and warranties of Borrower set forth
in this Agreement. The Loan is or will be evidenced by a promissory note or notes of Borrower and all renewals, extensions, amendments
and restatements thereof (if one or more, the "Note" or “Notes”) acceptable to Lender,
which shall set forth the interest rate, repayment and other provisions, the terms of which are incorporated into this Agreement
by reference.

 

2.Security.
The security for repayment of the Loan shall include but not be limited to the collateral documents heretofore, contemporaneously
or hereafter executed and delivered to Lender (the "Security Documents"), which shall secure repayment of the
Loan, the Note and all other loans, advances, debts, liabilities, obligations, covenants and duties owing by Borrower to Lender
or to any endorsee of Lender, of any kind or nature, present or future (including any interest accruing thereon after maturity),
or after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding relating
to Borrower, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding), whether direct or
indirect (including those acquired by assignment or participation), absolute or contingent, joint or several, due or to become
due, now existing or hereafter arising, whether or not (i) evidenced by any note, guaranty or other instrument, (ii) arising under
any agreement, instrument or document, (iii) for the payment of money, (iv) arising by reason of an extension of credit, opening
of a letter of credit, loan, equipment lease or guarantee, (v) under any interest or currency swap, future, option or other interest
rate protection or similar agreement, (vi) under or by reason of any foreign currency transaction, forward, option or other similar
transaction providing for the purchase of one currency in exchange for the sale of another currency, or in any other manner, or
(vii) arising out of overdrafts on deposit or other accounts or out of electronic funds transfers (whether by wire transfer or
through automated clearing houses or otherwise) or out of the return unpaid of, or other failure of Lender to receive final payment
for, any check, item, instrument, payment order or other deposit or credit to a deposit or other account, or out of Lender's non-receipt
of or inability to collect funds or otherwise not being made whole in connection with depository or other similar arrangements;
and any amendments, extensions, renewals and increases of or to any of the foregoing, and all costs and expenses of Lender incurred
in the documentation, negotiation, modification, enforcement, collection and otherwise in connection with any of the foregoing,
including reasonable attorneys' fees and expenses (hereinafter referred to collectively as the "Obligations"). 
A default under any Obligation shall be a default under all Obligations.

 

This
Agreement, the Note, the Security Documents and all other agreements and documents executed and/or delivered pursuant hereto,
as each may be amended, modified, extended or renewed from time to time, are collectively referred to as the "Loan Documents."
Capitalized terms not defined herein shall have the meanings ascribed to them in the Loan Documents.

  

3.Representations
and Warranties. Borrower hereby makes the following representations and warranties, which shall be continuing in nature
and remain in full force and effect until the Obligations are paid in full, and which shall be true and correct except as otherwise
set forth on the Addendum attached hereto and incorporated herein by reference (the "Addendum"):

 

    	 

    	 	

    
 

3.1.Existence.
Power and Authority. If not a natural person, Borrower is duly organized, validly existing and in good standing under the
laws of the State of its incorporation or organization and has the power and authority to own and operate its assets and to conduct
its business as now or proposed to be carried on, and is duly qualified, licensed and in good standing to do business in all jurisdictions
where its ownership of property or the nature of its business requires such qualification or licensing. Borrower is duly authorized
to execute and deliver the Loan Documents, all necessary action to authorize the execution and delivery of the Loan Documents has
been properly taken, and Borrower is and will continue to be duly authorized to borrow under this Agreement and to perform all
of the other terms and provisions of the Loan Documents.

 

3.2.Financial
Statements. Borrower’s financial statements can be found on the U.S. Securities and Exchange Commission’s (“SEC”)
EDGAR website (as applicable, the "Historical Financial Statements"). The Historical Financial Statements are true, complete
and accurate in all material respects and fairly present the financial condition, assets and liabilities, whether accrued, absolute,
contingent or otherwise and the results of Borrower's operations for the period specified therein. The Historical Financial Statements
have been prepared in accordance with generally accepted accounting principles ("GAAP") consistently applied from period
to period, subject in the case of interim statements to normal year-end adjustments and to any comments and notes acceptable to
Lender in its sole discretion.

 

3.3.No
Material Adverse Change. Since the date of the most recent Financial Statements (as hereinafter defined), Borrower has
not suffered any damage, destruction or loss, and no event or condition has occurred or exists, which has resulted or could result
in a material adverse change in its business, assets, operations, condition (financial or otherwise) or results of operation.

 

3.4.Binding
Obligations. Borrower has full power and authority to enter into the transactions provided for in this Agreement and has
been duly authorized to do so by appropriate action of its Board of Directors as may be required by law, charter, other organizational
documents or agreements; and the Loan Documents, when executed and delivered by Borrower, will constitute the legal, valid and
binding obligations of Borrower enforceable in accordance with their terms.

 

3.5.Title
to Assets. Borrower has good and marketable title to the assets reflected on the most recent Financial Statements, free
and clear of all liens and encumbrances, except for (i) current taxes and assessments not yet due and payable, (ii) assets disposed
of by Borrower in the ordinary course of business since the date of the most recent Financial Statements, and (iii) those liens
or encumbrances, if any, specified on the Addendum.

 

3.6.Tax
Returns. Borrower has filed all returns and reports that are required to be filed by
it in connection with any federal, state or local tax, duty or charge levied, assessed or imposed upon it or its property or withheld
by it, including income, unemployment, social security and similar taxes, and all of such taxes have been either paid or adequate
reserve or other provision has been made therefor.

 

3.7.Disclosure.
None of the Loan Documents contains or will contain any untrue statement of material fact or omits or will omit to state a material
fact necessary in order to make the statements contained in this Agreement or the Loan Documents not misleading. There is no fact
known to Borrower which materially adversely affects or, so far as Borrower can now foresee, might materially adversely affect
the business, assets, operations, condition (financial or otherwise) or results of operation of Borrower and which has not otherwise
been fully set forth in this Agreement or in the Loan Documents.

 

4.Affirmative
Covenants. Borrower agrees that from the date of execution of this Agreement until all Obligations have been paid in full
and any commitments of Lender to Borrower have been terminated, Borrower will:

 

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4.1.
Books and Records. Maintain books and records in accordance with GAAP and give representatives of Lender access
thereto at all reasonable times, including permission to examine, copy and make abstracts from any of such books and records and
such other information as Lender may from time to time reasonably request, and Borrower will make available to Lender for examination
copies of any reports, statements and returns which Borrower may make to or file with any federal, state or local governmental
department, bureau or agency.

 

4.2.Financial
Reporting - Borrower. Borrower will deliver or cause to be delivered to Lender a copy of the federal income tax return
filed by Borrower, which tax return shall be a true and complete copy of the return filed by Borrower with the Internal Revenue
Service, not later than 30 after filing but in no event later than June 30th each year. In addition, Lender may, from
time to time, require Borrower to deliver additional financial information.

 

4.3.
Maintenance of Existence, Operation and Assets. Do all things necessary to (i) maintain, renew and keep in full force and
effect its organizational existence and all rights, permits and franchises necessary to enable it to continue its business as currently
conducted; (ii) continue in operation in substantially the same manner as at present; (iii) keep its properties in good operating
condition and repair; and (iv) make all necessary and proper repairs, renewals, replacements, additions and improvements thereto.

 

4.4.Insurance.
Maintain, with financially sound and reputable insurers, insurance with respect to its property and business against such casualties
and contingencies, of such types and in such amounts, as is customary for established companies engaged in the same or similar
business and similarly situated. In the event of a conflict between the provisions of this Section and the terms of any Security
Documents relating to insurance, the provisions in the Security Documents will control.

 

4.5.Compliance
with Laws. Comply with all laws applicable to Borrower and to the operation of its business (including without limitation
any statute, ordinance, rule or regulation relating to employment practices, pension benefits or environmental, occupational and
health standards and controls).

 

5.Events
of Default. The occurrence of any of the following will be deemed to be an Event of Default:

 

5.1Covenant
Default. Borrower shall default in the performance of any of the covenants or agreements contained in this Agreement.

 

5.2Breach
of Warranty. Any Financial Statement, representation, warranty or certificate made or furnished by Borrower to Lender in
connection with this Agreement shall be false, incorrect or incomplete when made.

 

5.3Other
Default. The occurrence of an Event of Default as defined in the Note or any of the Loan Documents.

 

Upon
the occurrence of an Event of Default, Lender will have all rights and remedies specified in the Note and the Loan Documents and
all rights and remedies (which are cumulative and not exclusive) available under applicable law or in equity.

 

6.Subject
to Funding. This extension of credit by Lender to Borrower is expressly subject to Lender’s sale and endorsement
of the Notes representing the principal amount of the Loan, or portions thereof, to an endorsee(s)/purchaser(s) from time to time.
Should Lender be unable to negotiate any one or more of the Notes, this Loan may not be funded in the total principal amount, or
it may be funded in lesser amounts, from time to time.

 

7.Conditions.
In addition to the conditions of Paragraph 6 above, Lender's obligation to make any advance under the Loan is subject to the conditions
that as of the date of the advance:

 

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7.1.No
Event of Default. No Event of Default or event which with the passage of time, the giving of notice or both would constitute
an Event of Default shall have occurred and be continuing;

 

7.2.Authorization
Documents. Lender shall have received certified copies of resolutions of the board of directors of Borrower that executes
this Agreement, the Note or any of the other Loan Documents; or other proof of authorization satisfactory to Lender; and

 

7.3.Receipt
of Loan Documents. Lender shall have received the Loan Documents and such other instruments and documents which Lender
may reasonably request in connection with the transactions provided for in this Agreement, which may include an opinion of counsel
in form and substance satisfactory to Lender for any party executing any of the Loan Documents.

 

8.Expenses.
Borrower agrees to pay Lender, upon the execution of this Agreement, and otherwise on demand, all costs and expenses incurred by
Lender in connection with the preparation, negotiation and delivery of this Agreement and the other Loan Documents, and any modifications
thereto, and the collection of all of the Obligations, including but not limited to enforcement actions, relating to the Loan,
whether through judicial proceedings or otherwise, or in defending or prosecuting any actions or proceedings arising out of or
relating to this Agreement, including reasonable fees and expenses of counsel, expenses for auditors, appraisers and environmental
consultants, lien searches, recording and filing fees and taxes.

 

9.Increased
Costs. On written demand, together with written evidence of the justification therefor, Borrower agrees to pay Lender all
direct costs incurred by Lender over and above the expenses provided for under Paragraph 8, although Lender does not contemplate
such increased costs shall be incurred.

 

10.Miscellaneous.

 

10.1.Notices:
All notices, demands, requests, consents, approvals and other communications required or permitted hereunder ("Notices")
must be in writing and will be effective upon receipt. Notices may be given in any manner to which the parties may separately agree,
including electronic mail. Without limiting the foregoing, first-class mail, facsimile transmission and commercial courier service
are hereby agreed to as acceptable methods for giving Notices. Regardless of the manner in which provided, Notices may be sent
to a party's address as has been provided heretofore.

 

10.2.Preservation
of Rights. No delay or omission on Lender's part to exercise any right or power arising hereunder will impair any such
right or power or be considered a waiver of any such right or power, nor will Lender s action or inaction impair any such right
or power. Lender's rights and remedies hereunder are cumulative and not exclusive of any other rights or remedies which Lender
may have under other agreements, at law or in equity.

 

10.3.Illegality.
If any provision contained in this Agreement should be invalid, illegal or unenforceable in any respect, it shall not affect or
impair the validity, legality and enforceability of the remaining provisions of this Agreement.

 

10.4.Changes
in Writing. No modification, amendment or waiver of, or consent to any departure by Borrower from, any provision of this
Agreement will be effective unless made in a writing signed by the party to be charged, and then such waiver or consent shall be
effective only in the specific instance and for the purpose for which given. Notwithstanding the foregoing, Lender may modify this
Agreement or any of the other Loan Documents for the purposes of completing missing content or correcting erroneous content, without
the need for a written amendment, provided that Lender shall send a copy of any such modification to Borrower (which notice may
be given by electronic mail). No notice to or demand on Borrower will entitle Borrower to any other or further notice or demand
in the same, similar or other circumstance.

 

10.5.Entire
Agreement This Agreement (including the documents and instruments referred to herein) constitutes the entire agreement
and supersedes all other prior agreements and understandings, both written and oral, between the parties with respect to the subject
matter hereof.

 

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10.6.Counterparts.
This Agreement may be signed in any number of counterpart copies and by the parties hereto on separate counterparts, but all such
copies shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Agreement
by facsimile transmission shall be effective as delivery of a manually executed counterpart. Any party so executing this Agreement
by facsimile transmission shall promptly deliver a manually executed counterpart, provided that any failure to do so shall not
affect the validity of the counterpart executed by facsimile transmission.

 

10.7.Successors
and Assigns. This Agreement will be binding upon and inure to the benefit of Borrower and Lender and their respective heirs,
executors, administrators, successors and assigns; provided however, that Borrower may not assign this Agreement in whole
or in part without Lender's prior written consent and Lender at any time may assign this Agreement in whole or in part.

 

10.8.Interpretation.
In this Agreement, unless Lender and Borrower otherwise agree in writing, the singular includes the plural and the plural the singular;
words importing any gender include the other genders; references to statutes are to be construed as including all statutory provisions
consolidating, amending or replacing the statute referred to; the word "or" shall be deemed to include "and/or",
the words "including", "includes" and "include" shall be deemed to be followed by the words "without
limitation"; references to articles, sections (or subdivisions of sections) or exhibits are to those of this Agreement; and
references to agreements and other contractual instruments shall be deemed to include all subsequent amendments and other modifications
to such instruments, but only to the extent such amendments and other modifications are not prohibited by the terms of this Agreement.
Section headings in this Agreement are included for convenience of reference only and shall not constitute a part of this Agreement
for any other purpose. Unless otherwise specified in this Agreement, all accounting terms shall be interpreted and all accounting
determinations shall be made in accordance with GAAP. If this Agreement is executed by more than one party as Borrower, the obligations
of such persons or entities will be joint and several.

 

10.9.No
Consequential Damages, Etc. Lender will not be responsible for any damages, consequential, incidental, special, punitive
or otherwise, that may be incurred or alleged by any person or entity, including Borrower and any Guarantor, as a result of this
Agreement, the other Loan Documents, the transactions contemplated hereby or thereby, or the use of the proceeds of the Loan.

 

10.10.Assignments
and Participations. At any time, without any notice to Borrower, Lender may sell, assign, transfer, negotiate, grant participations
in, or otherwise dispose of all or any part of Lender's interest in the Loan, and in fact will be doing so, as stated in Paragraph
6. Borrower hereby authorizes Lender to provide, without any notice to Borrower, any information concerning Borrower, including
information pertaining to Borrower's financial condition, business operations or general creditworthiness, to any person or entity
which may succeed to or participate in all or any part of Lender's interest in the Loan.

 

10.11.Governing
Law and Jurisdiction. This Agreement has been delivered to and accepted by Lender and will be deemed to be made in the
Commonwealth of Virginia, and shall be interpreted in accordance with the laws of the Commonwealth of Virginia. Borrower hereby
irrevocably consents to the exclusive jurisdiction of any state or federal court in or serving Loudoun County, Virginia.

 

10.12WAIVER
OF JURY TRIAL. EACH OF THE BORROWER AND THE LENDER IRREVOCABLY WAIVES ANY AND ALL RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY
ACTION, PROCEEDING OR CLAIM OF ANY NATURE RELATING TO THIS AGREEMENT, ANY DOCUMENTS EXECUTED IN CONNECTION WITH THIS AGREEMENT
OR ANY TRANSACTION CONTEMPLATED IN ANY OF SUCH DOCUMENTS. THE BORROWER AND THE LENDER ACKNOWLEDGE THAT THE FOREGOING WAIVER IS
KNOWING AND VOLUNTARY.

 

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Borrower
acknowledges that it has read and understood all the provisions of this Agreement, including the waiver of jury trial, and has
been advised by counsel as necessary or appropriate.

 

WITNESS
the due execution hereof as a document under seal, as of the date first written above.

 

	 	LENDER:
	 	 	 
	 	IWEB GROWTH FUND, LLC
	 	 	 
	 	By:	/s/ My Le Phuong (SEAL)
	 	 	My Le Phuong, Manager
	 	 	 
	 	BORROWER:
	 	 	 
	 	ICEWEB, INC.
	 	 	 
	 	By:	/s/ Rob Howe (SEAL)
	 	   	Rob Howe, CEO

 

    	6Exhibit 10.32

  

CONFESSION OF JUDGMENT PROMISSORY
NOTE

  

IMPORTANT NOTICE

 

THIS INSTRUMENT CONTAINS
A CONFESSION OF JUDGMENT PROVISION WHICH CONSTITUTES A WAIVER OF IMPORTANT RIGHTS YOU MAY HAVE AS A DEBTOR AND ALLOWS THE CREDITOR
TO OBTAIN A JUDGMENT AGAINST YOU WITHOUT ANY FURTHER NOTICE.

 

	Sterling, Loudoun County, Virginia 	__, 2012

 

$_______________

 

FOR VALUE RECEIVED,
the undersigned, ICEWEB, INC., a Delaware corporation, maker (the “Maker”), promises to pay IWEB GROWTH FUND,
LLC, a Virginia limited liability company, payee ("Payee"), or order (Payee or Payee’s order, following endorsement
of this Confession of Judgment Promissory Note, shall be referred to as “Holder”), at such place as the Holder hereof
may, from time to time, designate in writing, the principal sum of _________________ Dollars ($________) plus simple interest at
twelve percent (12%) per annum, shall be payable in full by the close of business, one (1) year from date (the “Maturity
Date”). 

 

Maker may prepay the
principal amount of this Confession of Judgment Promissory Note at any time, without penalty.

 

If Maker does not pay
the total amount of principal plus all accrued interest due at the Maturity Date, Holder will give Maker not less than ten (10)
days written notice that principal plus all accrued interest is past due. If Maker does not pay the principal amount plus all accrued
interest (which shall continue to accrue through the date of payment) following the passage of the ten (10) day notice period,
Maker will be in default (“Default”). Following Default, Holder may cause judgment to be confessed against Maker, or
cause any collateral security to be sold in accordance with the security agreement, or both, in any order, or simultaneously.

 

Following Default Maker
agrees to continue to pay interest at twelve (12%) percent (12%) per annum, plus all expenses incurred by Holder in the collection
of this Confession of Judgment Promissory Note, including reasonable attorneys' fees of not more than twenty percent (20%) of the
principal and all interest then due under this Confession of Judgment Promissory Note.

 

    	 

    	 

    

 

With the exception
of the ten (10) day written notice above, presentment for payment, notice of dishonor, protest and notice of protest, and any other
notice of default under this Confession of Judgment Promissory Note, are hereby expressly waived by Maker.

 

This Note is made for
a business purpose.

 

This Note shall be
governed by the laws of the Commonwealth of Virginia.

 

TO THE CLERK OF
THE CIRCUIT COURT OF LOUDOUN COUNTY, VIRGINIA, Greetings:

 

Be it known to you that ICEWEB,
INC., a Delaware corporation, the Maker is indebted to IWEB GROWTH FUND, LLC, a Virginia limited liability company,
Payee, or order, the order of Payee being the Holder, in the principal sum of ____________ Dollars ($_________) plus simple interest
at twelve percent (12%) per annum, payable in full by the close of business, one (1) year from date, the Maturity
Date. 

 

If Maker does not pay
the total amount of principal plus all accrued interest due at the Maturity Date, Holder will give Maker not less than ten (10)
days written notice that principal plus all accrued interest is past due. If Maker does not pay the principal amount plus all accrued
interest (which shall continue to accrue through the date of payment) following the passage of the ten (10) day notice period,
Maker will be in Default. Following Default, Holder may cause judgment to be confessed against Maker, or cause any collateral security
to be sold in accordance with the security agreement, or both, in any order, or simultaneously.

 

Following Default Maker
agrees to continue to pay interest at twelve (12%) percent (12%) per annum, plus all expenses incurred by Holder in the collection
of this Confession of Judgment Promissory Note, including reasonable attorneys' fees of not more than twenty percent (20%) of the
principal and all interest then due under this Confession of Judgment Promissory Note.

 

The Maker does hereby
constitute and appoint WILLIAM GARDNER, ESQUIRE, its true and lawful attorney-in-fact, and with full power and authority
hereby given to appear before you in your said office and for him to confess judgment before you therein against Maker ICEWEB,
INC., a Delaware corporation and in favor of the Holder of this Confession of Judgment Promissory Note, for the principal sum
of _____________ Dollars ($_________) plus simple interest at twelve percent (12%) per annum, together with the cost
of confessing and entering of said judgment; and Maker further agrees that said attorney-in-fact may appear before you in your
said office and confess judgment for reasonable attorneys' fees of not more than twenty percent (20%) of the principal and all
interest then due under this Confession of Judgment Promissory Note.

 

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WITNESS THE HAND
AND SEAL OF THE UNDERSIGNED:

 

	 	MAKERS:	 
	 	 	 	 
	 	ICEWEB, INC., a Delaware corporation	 
	 	 	 	 
	 	 	 	 
	 	By: 	_______________________________________(Seal)	 
	 	 	Rob  Howe, CEO	 

 

COMMONWEALTH OF VIRGINIA

COUNTY OF LOUDOUN,
to wit:

 

The foregoing instrument
was acknowledged before me this __ day of November, 2012 by ROB HOWE, CEO of ICEWEB, INC. a Delaware corporation, Maker.

 

	 	_______________________________
	 	Notary Public

 

	 	_______________________________
	 	Print Name of Notary Public

 

My Commission Expires:
_____________________

 

My Registration Number
is: ____________________

 

FOR VALUE RECEIVED,
AND WITHOUT RECOURSE ON THE 

UNDERSIGNED, PAY
TO THE ORDER OF HAROLD E. SOYSTER

IWEB GROWTH FUND

 

	BY:	____________________________	 
	     	MY LE PHUONG, MANAGER	 

 

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