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Exhibit 10.7

GUARANTY—MULTIPLE SUBSIDIARIES

GUARANTY dated as of September 24, 2021 made by the undersigned (the "Guarantor") in favor of JPMorgan Chase Bank, N.A. and/or any of its branches, subsidiaries or affiliates   (individually or collectively, as the context may require, the "Bank").

PRELIMINARY STATEMENTS: The Bank has entered, or may from time to time enter, into agreements or arrangements with the entities listed on Schedule A attached hereto and made a part hereof (collectively, the “Borrowers” and each, individually, a "Borrower") providing for credit extensions or financial accommodation to the Borrowers or any of them of any kind whatsoever, including but not limited to the making of loans, advances or overdrafts, whether or not secured, discount or purchase of notes, securities or other instruments or property, creation of acceptances, issuance or confirmation of letters of credit, guaranties or indemnities, treasury management agreements (including, without limitation, ACH and BACS agreements and provision of commercial credit card and/or merchant credit card services and pre-paid debit card services), notional pooling arrangements, physical cash concentration services, entering into Rate Management Transactions (as defined below) or any other kind of contract or agreement under which the Borrowers or any of them may be indebted to the Bank in any manner (all of the foregoing agreements or arrangements being the "Facilities" and any writing evidencing, supporting or securing a Facility, including but not limited to this Guaranty, as such writing may be amended, modified or supplemented from time to time, a "Facility Document"). The term “Rate Management Transaction”, as used herein, means (i) any transaction (including an agreement with respect thereto) now existing or hereafter entered into between any Borrower and Bank and/or its affiliates which is a rate swap, swap option, basis swap, forward rate transaction, commodity swap, commodity option, equity or equity index swap, equity or equity index option, bond option, interest rate option, foreign exchange transaction, cap, floor, collar, currency swap, cross-currency rate swap, currency option, credit protection transaction, credit swap, credit default swap, credit default option, total return swap, credit spread, repurchase transaction, reverse repurchase transaction, buy/sell-back transaction, securities lending transaction, weather index transaction or forward purchase or sale of a security, commodity or other financial instrument or interest (including any option with respect to any of these transactions), or (ii) any type of transaction that is similar to any transaction referred to in clause (i) above that is currently, or in the future becomes, recurrently entered into in the financial markets and which is a forward, swap, future, option or other derivative on one or more rates, currencies, commodities, equity securities or other equity instruments, debt securities or other debt instruments, economic indices or measures of economic risk or value, or other benchmarks against which payments or deliveries are to be made, or any combination of the foregoing transactions. The Guarantor owns a substantial amount of the stock or other ownership interests of the Borrowers and is financially interested in their affairs. This Guaranty is in the Guarantor’s interest and to its financial benefit.

THEREFORE, in order to induce the Bank to extend credit or give financial accommodation under the Facilities, the Guarantor agrees as follows:

Section 1. Guaranty of Payments. The Guarantor unconditionally and irrevocably guarantees to the Bank the punctual payment of all sums now owing or which may in the future be owing by the Borrowers under the Facilities, when the same are due and payable, whether on demand, at stated maturity, by acceleration or otherwise, and whether for principal, interest, fees, expenses, indemnification or otherwise (all of the foregoing sums being the "Liabilities"); provided, however, that the Liabilities shall not include any Excluded Swap Obligations ( as defined below). The Liabilities include, without limitation, interest accruing after the commencement of a proceeding under bankruptcy, insolvency or similar laws of any jurisdiction at the rate or rates provided in the Facility Documents. This Guaranty is a guaranty of payment and not of collection only. The Bank shall not be required to exhaust any right or remedy or take any action against the Borrowers or any other person or entity or any collateral. The Guarantor agrees that, as between the Guarantor and the Bank, the Liabilities may be declared to be due and payable for the purposes of this Guaranty notwithstanding any stay,

injunction or other prohibition which may prevent, delay or vitiate any declaration as regards the Borrowers and that in the event of a declaration or attempted declaration, the Liabilities shall immediately become due and payable by the Guarantor for the purposes of this Guaranty. “Excluded Swap Obligation” means any Swap Obligation (as defined below) as to which it is unlawful under the CEA for the Guarantor to guaranty hereunder because the Guarantor is not an “eligible contract participant” (as defined in the CEA) at the time this Guaranty shall become effective with respect to such Swap Obligation. “CEA” means the Commodity Exchange Act (7
U.S.C. § 1 et seq.), as amended from time to time, and any successor statute and/or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof). “Swap Obligation” means any obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of the CEA.

Section 2. Guaranty Absolute. The Guarantor guarantees that the Liabilities shall be paid strictly in accordance with the terms of the Facilities. The liability of the Guarantor under this Guaranty is absolute and unconditional irrespective of:   (a) any change in the time, manner or place of payment of, or in any other term of, all or any of the Facility Documents or Liabilities, or any other amendment or waiver of or any consent to departure from any of the terms of any Facility Document or Liabilities, including any increase or decrease in the rate of interest thereon; (b) any release or amendment or waiver of, or consent to departure from, or failure to act by Bank with respect to, any other guaranty or support document, or any exchange, release or non-perfection of, or failure to act by Bank with respect to, any collateral, for all or any of the Facility Documents or Liabilities;
(c) any present or future law, regulation or order of any jurisdiction (whether of right or in fact) or of any agency thereof purporting to reduce, amend, restructure or otherwise affect any term of any Facility Document or Liabilities; (d) any change in the corporate existence, structure, or ownership of the Borrowers or any of them,
(e) without being limited by the foregoing, any lack of validity or enforceability of any Facility Document or Liabilities; and (f) any other setoff, recoupment, defense or counterclaim whatsoever (in any case, whether based on contract, tort or any other theory) with respect to the Facility Documents or the transactions contemplated thereby which might constitute a legal or equitable defense available to, or discharge of, a Borrower or a guarantor.

Section 3. Guaranty Irrevocable. This Guaranty is a continuing guaranty of the payment of all Liabilities now or hereafter existing under the Facilities and shall remain in full force and effect until payment in full of all Liabilities and other amounts payable under this Guaranty and until the Facilities are no longer in effect or, if earlier, when the Guarantor has given the Bank written notice that this Guaranty has been revoked; provided that any notice under this Section shall not release the Guarantor from any Liability, absolute or contingent, existing prior to the Bank's actual receipt of the notice at its branches or departments responsible for the Facilities and reasonable opportunity to act upon such notice.

Section 4. Reinstatement. This Guaranty shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Liabilities is rescinded or must otherwise be returned by the Bank on the insolvency, bankruptcy or reorganization of any Borrower or otherwise, all as though the payment had not been made, whether or not the Bank is then in possession of the Guaranty.

Section 5. Subrogation. The Guarantor shall not exercise any rights which it may acquire by way of subrogation, by any payment made under this Guaranty or otherwise, until all the Liabilities have been paid in full and the Facilities are no longer in effect. If any amount is paid to the Guarantor on account of subrogation rights under this Guaranty at any time when all the Liabilities have not been paid in full, the amount shall be held in trust for the benefit of the Bank and shall be promptly paid to the Bank to be credited and applied to the Liabilities, whether matured or unmatured or absolute or contingent, in accordance with the terms of the Facilities. If the Guarantor makes payment to the Bank of all or any part of the Liabilities and all the Liabilities are paid in full and the Facilities are no longer in effect, the Bank shall, at the Guarantor's request, execute and deliver to the Guarantor appropriate documents, without recourse and without representation or warranty, necessary to evidence the transfer by subrogation to the Guarantor of an interest in the Liabilities resulting from the payment.

Section 6. Subordination. Without limiting the Bank's rights under any other agreement, any liabilities owed by the Borrowers or any of them to the Guarantor in connection with any extension of credit or financial accommodation by the Guarantor to or for the account of the Borrowers, including but not limited to interest accruing at the agreed contract rate after the commencement of a bankruptcy or similar proceeding, are hereby subordinated to the Liabilities, and such liabilities of the Borrowers to the Guarantor, if the Bank so requests, shall be collected, enforced and received by the Guarantor as trustee for the Bank and shall be paid over to the Bank on account of the Liabilities but without reducing or affecting in any manner the liability of the Guarantor under the other provisions of this Guaranty.

Section 7. Payments Generally. All payments by the Guarantor shall be made in the manner, at the place and in the currency (the "Payment Currency") required by the Facility Documents; provided, however, that (if the Payment Currency is other than U.S. dollars) the Guarantor may, at its option (or, if for any reason whatsoever the Guarantor is unable to effect payments in the foregoing manner, the Guarantor shall be obligated to) pay to the Bank at its principal office the equivalent amount in U.S. dollars computed at the selling rate of the Bank or a selling rate chosen by the Bank, most recently in effect on or prior to the date the Liability becomes due, for cable transfers of the Payment Currency to the place where the Liability is payable. In any case in which the Guarantor makes or is obligated to make payment in U.S. dollars, the Guarantor shall hold the Bank harmless from any loss incurred by the Bank arising from any change in the value of U.S. dollars in relation to the Payment Currency between the date the Liability becomes due and the date the Bank is actually able, following the conversion of the U.S. dollars paid by the Guarantor into the Payment Currency and remittance of such Payment Currency to the place where such Liability is payable, to apply such Payment Currency to such Liability.

Section 8. Certain Taxes. The Guarantor further agrees that all payments to be made hereunder shall be made without setoff or counterclaim and free and clear of, and without deduction for, any taxes, levies, imposts, duties, charges, fees, deductions, withholdings or restrictions or conditions of any nature whatsoever now or hereafter imposed, levied, collected, withheld or assessed by any country or by any political subdivision or taxing authority thereof or therein ("Taxes"). If any Taxes are required to be withheld from any amounts payable to the Bank hereunder, the amounts so payable to the Bank shall be increased to the extent necessary to yield to the Bank (after payment of all Taxes) the amounts payable hereunder in the full amounts so to be paid. Whenever any Tax is paid by the Guarantor, as promptly as possible thereafter, the Guarantor shall send the Bank an official receipt showing payment thereof, together with such additional documentary evidence as may be required from time to time by the Bank.

Section 9. Representations and Warranties. The Guarantor represents and warrants that: (a) this Guaranty (i) has been authorized by all necessary action; (ii) does not violate any agreement, instrument, law, regulation or order applicable to the Guarantor; (iii) does not require the consent or approval of any person or entity, including but not limited to any governmental authority, or any filing or registration of any kind; and (iv) is the legal, valid and binding obligation of the Guarantor enforceable against the Guarantor in accordance with its terms, except to the extent that enforcement may be limited by applicable bankruptcy, insolvency and other similar laws affecting creditors' rights generally; and (b) in executing and delivering this Guaranty, the Guarantor has (i) without reliance on the Bank or any information received from the Bank and based upon such documents and information it deems appropriate, made an independent investigation of the transactions contemplated hereby and the Borrowers, the Borrowers’ business, assets, operations, prospects and condition, financial or otherwise, and any circumstances which may bear upon such transactions, the Borrowers or the obligations and risks undertaken herein with respect to the Liabilities; (ii) adequate means to obtain from the Borrowers on a continuing basis information concerning the Borrowers; (iii) has full and complete access to the Facility Documents and any other documents executed in connection with the Facility Documents; and (iv) not relied and will not rely upon any representations or warranties of the Bank not embodied herein or any acts heretofore or hereafter taken by the Bank (including but not limited to any review by the Bank of the affairs of the Borrowers). The Guarantor hereby further represents and warrants that the Guarantor is an “eligible contract participant” as such term is defined in the CEA. The Guarantor shall promptly notify the Bank in writing at its

addresses set forth in the Facility Documents upon the Guarantor no longer qualifying as an “eligible contract participant” under the CEA.

Section 10. Remedies Generally. The remedies provided in this Guaranty are cumulative and not exclusive of any remedies provided by law.

Section 11. Setoff. The Facilities may be booked at any office, branch, subsidiary or affiliate of the Bank, as selected by the Bank (each a “Lending Installation”). All terms of this Guaranty apply to and may be enforced by or on behalf of any Lending Installation. The Guarantor agrees that, in addition to (and without limitation of) any right of setoff, banker's lien or counterclaim the Bank may otherwise have, the Bank shall be entitled, at its option, to offset balances (general or special, time or demand, provisional or final) held by it for the account of the Guarantor at any of the Bank's offices, in U.S. dollars or in any other currency, against any amount payable by the Guarantor under this Guaranty which is not paid when due (regardless of whether such balances are then due to the Guarantor), in which case it shall promptly notify the Guarantor thereof; provided that the Bank's failure to give such notice shall not affect the validity thereof.

Section 12. Formalities. The Guarantor waives presentment, demand, notice of dishonor, protest, notice of acceptance of this Guaranty or incurrence of any Liability and any other formality with respect to any of the Liabilities or this Guaranty.

Section 13. Amendments and Waivers. No amendment or waiver of any provision of this Guaranty, nor consent to any departure by the Guarantor therefrom, shall be effective unless it is in writing and signed by the Bank, and then the waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. No failure on the part of the Bank to exercise, and no delay in exercising, any right under this Guaranty shall operate as a waiver or preclude any other or further exercise thereof or the exercise of any other right.

Section 14. Expenses. The Guarantor shall reimburse the Bank on demand for all costs, expenses and charges (including without limitation fees and charges of external legal counsel for the Bank and costs allocated by its internal legal department) incurred by the Bank in connection with the preparation, performance or enforcement of this Guaranty. The obligations of the Guarantor under this Section shall survive the termination of this Guaranty.

Section 15. Assignment. This Guaranty shall be binding on, and shall inure to the benefit of the Guarantor, the Bank and their respective successors and assigns; provided that the Guarantor may not assign or transfer its rights or obligations under this Guaranty. Without limiting the generality of the foregoing: (a) the obligations of the Guarantor under this Guaranty shall continue in full force and effect and shall be binding on any successor partnership and on previous partners and their respective estates if the Guarantor is a partnership, regardless of any change in the partnership as a result of death, retirement or otherwise; and (b) the Bank may assign, sell participations in or otherwise transfer its rights under the Facilities to any other person or entity, and the other person or entity shall then become vested with all the rights granted to the Bank in this Guaranty or otherwise.

Section 16. Captions. The headings and captions in this Guaranty are for convenience only and shall not affect the interpretation or construction of this Guaranty.

Section 17. Governing Law, Etc. THIS GUARANTY SHALL BE GOVERNED BY THE LAW OF THE STATE OF ILLINOIS. THE GUARANTOR CONSENTS TO THE NONEXCLUSIVE JURISDICTION AND VENUE OF THE STATE OR FEDERAL COURTS LOCATED IN THE CITY OF CHICAGO, ILLINOIS. SERVICE OF PROCESS BY THE BANK IN CONNECTION WITH ANY SUCH DISPUTE SHALL BE BINDING ON THE GUARANTOR IF SENT TO THE GUARANTOR BY REGISTERED MAIL AT THE ADDRESS SPECIFIED BELOW OR AS OTHERWISE SPECIFIED BY THE GUARANTOR FROM TIME TO TIME. THE GUARANTOR  WAIVES ANY RIGHT THE

GUARANTOR MAY HAVE TO JURY TRIAL IN ANY ACTION RELATED TO THIS GUARANTY OR THE TRANSACTIONS CONTEMPLATED HEREBY AND FURTHER WAIVES ANY RIGHT TO INTERPOSE ANY COUNTERCLAIM RELATED TO THIS GUARANTY OR THE TRANSACTIONS CONTEMPLATED HEREBY IN ANY SUCH ACTION. TO THE EXTENT THAT THE GUARANTOR HAS OR HEREAFTER MAY ACQUIRE ANY IMMUNITY FROM JURISDICTION OF ANY COURT OR FROM ANY LEGAL PROCESS (WHETHER FROM SERVICE OR NOTICE, ATTACHMENT PRIOR TO JUDGMENT, ATTACHMENT IN AID OF EXECUTION OF A JUDGMENT, EXECUTION OR OTHERWISE), THE GUARANTOR HEREBY IRREVOCABLY WAIVES SUCH IMMUNITY IN RESPECT OF ITS OBLIGATIONS UNDER THIS GUARANTY.

Section 18.   Integration; Effectiveness; Electronic Execution. This Guaranty alone sets forth the entire understanding of the Guarantor and the Bank relating to the guarantee of the Liabilities and constitutes the entire contract between the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. This Guaranty shall become effective when it shall have been executed and delivered by the Guarantor to the Bank. Delivery of an executed counterpart of a signature page of this Guaranty by telecopy, emailed pdf. or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of this Guaranty. Without limiting the generality of the foregoing, the Guarantor hereby (i) agrees that, for all purposes, including without limitation, in connection with any workout, restructuring, enforcement of remedies, bankruptcy proceedings or litigation among Guarantor and the Bank, electronic images of this Guaranty (in each case, including with respect to any signature pages thereto) shall have the same legal effect, validity and enforceability as any paper original, and (ii) waives any argument, defense or right to contest the validity or enforceability of this Guaranty based solely on the lack of paper original copies of this Guaranty, including with respect to any signature pages thereto.

IN WITNESS WHEREOF, the Guarantor has caused this Guaranty to be duly executed and delivered by its duly authorized officer as of the date first above written.

APPHARVEST OPERATIONS, INC.

									
	By:		/s/ Loren Eggleton
	Name:		Loren Eggleton
	Title: 		Chief Financial Officer
	Address:		500 Appalachian Way
			Morehead, KY 40351

									
			
			
			
			
			
			
			
			
			
			

SCHEDULE A LIST OF BORROWERS

AppHarvest Pulaski Farm, LLCDocument

Exhibit 10.8

CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY ***) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.

Dated as of September 24, 2021

Assignment of Deposit Account

AppHarvest Operations, Inc., whose address is 500 Appalachian Way, Morehead, KY 40531 (the "Assignor"), pledges, assigns, transfers and grants a security interest to JPMorgan Chase Bank, N.A., whose address is 10 South Dearborn, Chicago, Illinois 60603 (“JPMCB”, for itself and as agent for its subsidiaries, branches and affiliates, together with their respective successors and assigns, the "Secured Party") in the Account (as defined below) to the maximum extent that the Assignor has rights in or power to transfer rights in the Account and to the maximum extent that the Assignor later acquires ownership, other rights in or the power to transfer rights in the Account. "Account" means money market deposit account number [***] held at JPMorgan Chase Bank, N.A. (together with its branches, successors and assigns, in such capacity, "Financial Institution"), any deposits in such account, including, without limitation, any interest, additions and proceeds due or to become due on such account; any successor account howsoever numbered; all accounts issued in renewal, extension or increase or decrease of or replacement or substitution for any of the foregoing (whether such accounts are deposit accounts, negotiable or non-negotiable or book entry certificates of deposit, book entry investment time deposits, savings accounts, money market accounts, time deposits, demand deposit accounts, instruments, general intangibles, chattel paper or otherwise); and all promissory notes, checks, cash, certificates of deposit, passbooks, deposit receipts, instruments, certificates and other records from time to time representing or evidencing the Account.

This Assignment secures the payment and performance of the Liabilities. The term "Borrower" in this Assignment means each and all of AppHarvest Pulaski Farm, LLC.

Control Agreement with Financial Institution and Power of Attorney. The Secured Party’s presentation of a copy of this Assignment to the Financial Institution is the Assignor's authentication of an irrevocable instruction to the Financial Institution to follow the Secured Party’s instructions with respect to the Account without the Assignor’s further consent concerning (1) the disposition of funds in the Account and (2) any other matter relating to the Account. The Assignor hereby grants and provides to the Secured Party control over the Account and this Agreement shall operate as Assignor’s authentication of an irrevocable instruction by Assignor to the Financial Institution to follow the instructions of Secured Party with respect to the disposition of funds in the Account and any other matter relating to the Account without further inquiry or consent of Assignor. The Secured Party is given an irrevocable power of attorney coupled with an interest to execute any control agreement in the Assignor’s name with the Financial Institution in form and substance satisfactory to the Secured Party and to perform any obligation of the Assignor under this Assignment. The Assignor also irrevocably authorizes and directs the Financial Institution to send duplicate notices, statements and all other communications concerning the Account to the Secured Party upon request of the Secured Party. The Secured Party is authorized at any time to restyle the Account or any portion thereof in its name or its nominee’s name. The Financial Institution is directed to follow all of the Secured Party's instructions without investigating the reason for any action taken by the Secured Party or the existence of any default and may rely on the instructions of the Secured Party without any liability to the Assignor. The rights and powers granted to the Secured Party in this Assignment are powers coupled with an interest and will neither be affected by termination of existence or bankruptcy of the Assignor nor by the lapse of time.

The Assignor agrees that neither Financial Institution nor any of its respective branches, officers, employees or affiliates will breach any duty to Assignor if any of them complies in good faith with the instructions issued by Secured Party or any instructions contained in this Agreement or if any of them fails to comply with any contrary or inconsistent instructions that may subsequently be issued by Assignor. Assignor further holds harmless and indemnifies Financial Institution and its branches, officers, employees and affiliates against any claim, loss, cost or expense arising out of any actions or omissions taken by any person in reliance on or compliance with the instructions of Secured Party and authorizations contained in this Agreement. The instructions contained in this Agreement may be 

revoked and the terms of this Agreement may be amended by Assignor only if Financial Institution receives (i) Secured Party's written consent to the revocation or amendment, or (ii) Secured Party's written notification that its security interest has been terminated.

Liabilities. The term "Liabilities" in this Assignment means all debts, obligations, indebtedness and liabilities of every kind and character of the Borrower whether individual, joint and several, contingent or otherwise, now or hereafter existing in favor of the Secured Party including, without limitation, all liabilities, interest, costs and fees, arising or occurring under or from any line of credit with the Secured Party (including, without limitation, all obligations under that certain Promissory Note dated September 24, 2021 by and among the Borrower and the Secured Party, as amended, modified, restated, replaced or extended from time to time), whether payable to the Secured Party or to a third party and subsequently acquired by the Secured Party, any monetary obligations (including interest) incurred or accrued during the pendency of any bankruptcy, insolvency, receivership or other similar proceedings, regardless of whether allowed or allowable in such proceeding, and all renewals, extensions, modifications, consolidations, rearrangements, restatements, replacements or substitutions of any of the foregoing. Without limiting the foregoing, the Liabilities further include all

costs of collection of the Liabilities, whether such costs are incurred in collection from the Borrower or in proceeding against the Assignor hereunder, including, without limitation, legal fees of the Secured Party in such enforcement.

Representations, Warranties and Covenants. The Assignor represents, warrants and covenants that it will not withdraw any monies from the Account and during the term of this Agreement to the extent that the cash balance in the Account shall be less than 105% of the outstanding principal balance of the Liabilities. Any passbook, certificate or other evidence of the Account has been delivered to the Secured Party. The Assignor represents and warrants that (i) it is the sole owner of the Account, and the Account is free of all liens, security interests, and encumbrances (except for that contained herein) and the Assignor has not made any prior assignment or transfer of any kind of the Account, the proceeds thereof or interests thereon or therein, except such as may have been created in favor of the Secured Party; (ii) this Assignment does not violate, or require any consent, approval or other action by any governmental official or body or any other person or entity, under any law, regulation, decree or order or any agreement or arrangement binding upon the Assignor or the property of the Assignor; (iii) the Assignor has taken all organizational and legal action necessary to authorize the execution, delivery and performance of this Assignment and the assignment of the Account; (iv) this Assignment constitutes a legal, valid and binding obligation of the Assignor enforceable in accordance with its terms and creates in favor of the Secured Party a perfected, first priority security interest in the Account and all related monies, proceeds and interest; and (v) the execution, delivery and performance of this Assignment and the assignment of the Account are private and commercial acts.

Default/Remedies. If any of the Liabilities are not paid at maturity, whether by acceleration or otherwise, or if an event of default occurs hereunder or under the terms of any agreement related to any of the Liabilities, then the Secured Party shall have the right immediately, without notice, at the Secured Party's option, to withdraw (even if any early withdrawal penalty is imposed as a result) all or any portion of the Account and apply those moneys to the Liabilities whether or not the Liabilities have been declared to be due and owing, provided that, to the extent any Liabilities consist of extensions of credit to the Borrower by the issuance of letters of credit or other like obligations of the Secured Party to third parties which have not then been drawn upon, such proceeds shall be held by the Secured Party in a cash collateral account as security for the Liabilities. Furthermore, notwithstanding the foregoing, so long as any of the Liabilities are outstanding, the Assignor hereby unconditionally and irrevocably authorizes and instructs the Secured Party, without prior notice to or demand for payment upon the Assignor, and even if any early withdrawal or other penalty is imposed as a result, to apply all or any portion of the Account to fund or reimburse the Secured Party with respect to any such Liabilities. The Secured Party may act or decline to act upon the foregoing authorization and instruction at any time and from time to time in its sole discretion.

Collateral Maintenance. The Assignor agrees that, so long as any of the Liabilities are outstanding or any line of credit from Secured Party is in place for any Borrower, it will at all times maintain an aggregate deposits in the Account equal to at least 105% of the sum of (i) the maximum amount drawn by the Borrower under each and every line of credit (such required amount, at any time, “Required Collateral Amount”) and (ii) any other outstanding Liabilities. The Assignor will, at the Secured Party's option, either supplement the deposits in the Account or make any payment under the Liabilities to the extent necessary to ensure compliance with this provision or the Secured Party may liquidate deposits in the Account to the extent necessary to ensure compliance with this provision. In the event that any of the Liabilities are denominated in a currency other than U.S. Dollars, such Liabilities shall first be converted into U.S. Dollars using Secured Party’s selling rate for such currency most recently in effect for purposes of determining compliance with this provision.

Miscellaneous. The Assignor consents to any extension, postponement or renewal of any Liabilities, the release or discharge of all or any part of any security for the Liabilities, and the release or discharge or suspension of any rights and remedies against any person who may be liable for any of the Liabilities. The Secured Party does not have to look to any other right, any other collateral, or any other person for payment before it exercises its rights under this Assignment. The Assignor's obligations to the Secured Party under this Assignment are not subject to any condition, precedent or subsequent. If more than one person or entity signs this Assignment as Assignor, their obligations, covenants, representations and warranties are joint and several and the Account includes any property that is owned by any one or more, individually or jointly with any other person or entity. This Assignment is binding on the Assignor and its heirs, successors and assigns, and is for the benefit of the Secured Party and its successors and assigns. The use of section headings shall not limit the provisions of this Assignment. The Assignor authorizes the Secured Party to take whatever actions, and to execute any agreement, document or instrument, which the Secured Party deems necessary or desirable to accomplish the purposes of this Assignment. A carbon, photographic or other reproduction of this Assignment is sufficient as, and can be filed as, a financing statement. The Secured Party is irrevocably appointed the Assignor's attorney-in-fact to execute any financing statement on the Assignor's behalf covering the Account. The Assignor authorizes the Secured Party to file one or more financing statements related to the security interests created by this Assignment and further authorizes the Secured Party, instead of the Assignor, to sign such financing statements. The Assignor waives any presentation, demand of payment, protest and notice of non-payment or protest. The Secured Party shall not under any circumstances be deemed to assume any responsibility for or obligation or duty with respect to the Account or any proceeds thereof or interest thereon, and shall not be required to take any action of any kind to collect, preserve or protect its or the Assignor's rights in the Account. The Assignor releases the Secured Party from any claims, causes of action and demands at any time arising out of or with respect to this Assignment, the use or disposition of the Account or any action taken or omitted to be taken by the Secured Party with respect thereto, and the Assignor hereby agrees to hold the Secured Party harmless from

and with respect to any and all claims, causes of action and demands. All items of income including interest and other income, gain, expense and loss recognized in the Account must be reported by Financial Institution in the name and tax identification number of Assignor. Further, Assignor agrees to pay any charges with respect to the Account directly and not out of the monies in or proceeds of the Account. Delivery of an executed counterpart of a signature page of this Assignment by telecopy, emailed pdf. or any other electronic means that reproduces an image of the actual executed signature page or the keeping of records in electronic form in accordance with applicable law, each of which shall be of the same legal effect, validity or enforceability as a manually executed counterpart of this Assignment.

Delivery of an executed counterpart of a signature page of this Assignment by telecopy, emailed pdf. or any other electronic means that reproduces an image of the actual executed signature page or the keeping of records in electronic form in accordance with applicable law, each of which shall be of the same legal effect, validity or enforceability as a manually executed counterpart of this Assignment. The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to any document to be signed in connection with this Agreement and the transactions contemplated hereby shall be deemed to include Electronic Signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act; provided that nothing herein shall require the Secured Party or the Financial Institution to accept electronic signatures in any form or format without its prior written consent. Without limiting the generality of the foregoing, the Assignor hereby (i) agrees that, for all purposes, including without limitation, in connection with any workout, restructuring, enforcement of remedies, bankruptcy proceedings or litigation between the Secured Party or the Financial Institution and the Assignor or Borrower, electronic images of this Agreement shall have the same legal effect, validity and enforceability as any paper original, and (ii) waives any argument, defense or right to contest the validity or enforceability of the Agreement based solely on the lack of paper original copies of the Agreement, including with respect to any signature pages thereto. “Electronic Signature” means an electronic sound, symbol, or process attached to, or associated with, a contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record.

Governing Law and Venue. This Assignment shall be governed by and construed in accordance with the laws of the State of New York (without giving effect to its laws of conflicts), and to the extent applicable, federal law, except to the extent that the laws regarding the perfection and priority of security interests of the state(s) in which either the Assignor or any property securing the Liabilities is located, are applicable. The Assignor agrees that any legal action or proceeding with respect to any of its obligations under this Assignment may be brought by the Secured Party in any state or federal court located in the State of New York, as the Secured Party in its sole discretion may elect. By the execution and delivery of this Assignment, the Assignor submits to and accepts, for itself and in respect of its property, generally and unconditionally, the non-exclusive jurisdiction of those courts. The Assignor waives any claim that the State of New York is not a convenient forum or the proper venue for any such suit, action or proceeding. Furthermore, the Assignor expressly waives any immunity (whether characterized as sovereign immunity or otherwise) from suit, from the jurisdiction of any court, from attachment prior to, or in aid of execution of, a judgment, or from execution of a judgment.

WAIVER OF SPECIAL DAMAGES. THE ASSIGNOR WAIVES, TO THE MAXIMUM EXTENT NOT PROHIBITED BY LAW, ANY RIGHT THE ASSIGNOR MAY HAVE TO CLAIM OR RECOVER FROM THE SECURED PARTY IN ANY LEGAL ACTION OR PROCEEDING ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES.

JURY WAIVER. THE ASSIGNOR AND THE SECURED PARTY (BY ITS ACCEPTANCE HEREOF) HEREBY VOLUNTARILY, KNOWINGLY, IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE (WHETHER BASED ON CONTRACT, TORT, OR OTHERWISE) BETWEEN THE ASSIGNOR AND THE SECURED PARTY ARISING OUT OF OR IN ANY WAY RELATED TO THIS DOCUMENT. THIS PROVISION IS A MATERIAL INDUCEMENT TO THE SECURED PARTY TO PROVIDE THE FINANCING DESCRIBED HEREIN.

Assignor: APPHARVEST OPERATIONS, INC.

												
	By:		/s/ Loren Eggleton
			Loren Eggleton	 Chief Financial Officer
			Printed Name	Title
	Date Signed:		09/27/2021	

The Financial Institution acknowledges that the Account has been assigned to the Secured Party and is subject to a lien, security interest, pledge and assignment in the Secured Party’s favor and that the Secured Party has control of the Account and the Financial Institution will follow the Secured Party’s instructions with respect to the disposition of funds in the Account and other matters concerning the Account without further inquiry of Assignor or the Assignor’s further consent. Financial Institution will not agree to comply with any third party entitlement orders or instructions concerning the Account without the prior written consent of Secured Party. Financial Institution will not honor any drafts, demands, requests for withdrawal, remittance debts, transfer orders or other requests and instructions by Assignor with respect to the Account after the date of this Agreement without the prior written consent of Secured Party. The Account will be subject to the sole signing authority of the Secured Party.

												
	Financial Institution:
				
	JPMorgan Chase Bank, N.A.
				
	By:		/s/ Richard Barritt
			Richard Barritt	Executive Director
			Printed Name	Title

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