Document:

EXHIBIT 10.1

 

SETTLEMENT AGREEMENT

 

This SETTLEMENT AGREEMENT (this "Agreement"), dated this 20 day of July, 2015, is entered into by and among eCrypt Technologies, Inc. d/b/a Ecrypt Technologies Inc., a Colorado corporation ("Ecrypt"), and Micro-Tech Industries Ltd. ("Micro").

 

RECITALS

 

WHEREAS, Ecrypt has designated and issued a total of 5,000,000 shares of Series A Convertible Preferred Stock (the "Preferred Stock");

 

WHEREAS, Micro currently holds 839,500 shares of Preferred Stock (the "Preferred Stock");

 

WHEREAS, subject to the terms and conditions set forth in this Agreement, the parties hereto desire for Micro to return all of the Preferred Stock to the Company immediately for cancellation in consideration of the issuance of Ecrypt common stock to Micro as set forth herein.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the foregoing recitals, the covenants set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, hereby agree as follows:

 

1. Issuance of Common Stock. Ecrypt agrees to immediately issue 7,975,250 shares of Ecrypt common stock to Micro.

 

2. Cancellation of Preferred Stock. Micro agrees to immediately return all of the shares of Preferred Stock to Ecrypt for cancellation. Micro hereby agrees to surrender the stock certificate(s) representing the Preferred Stock to the Board of Directors of Ecrypt upon the execution of this Agreement duly endorsed and medallion guaranteed, and hereby agrees that the Preferred Stock shall be returned to Ecrypt's registrar and transfer agent for cancellation.

 

3. No Admission. Nothing in this Agreement shall be deemed or construed as an admission of liability or wrongdoing on the part of either party to this Agreement.

 

4. Governing Law. This Agreement shall be governed and construed under the laws of the State of Colorado.

 

5. Modifications; Waivers. No purported amendment or modification of this Agreement shall be effective unless it is in writing and signed by all parties hereto. No claimed waiver of any of the provisions of this Agreement shall be effective unless in writing and signed by the party to be charged.

 

6. Entire Agreement. This Agreement sets forth the entire agreement between the parties with respect to the subject matter hereof. No representations, oral or otherwise, express or implied, other than those specifically contained in this Agreement, have been made between the parties.

 

	 
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7. Counterparts. This Agreement may be executed in one or more subparts or counterparts, with actual, electronic or facsimile signatures, each of which shall be deemed an original, but all of which, together, shall be deemed to constitute a single document. For all purposes in this Agreement, a facsimile or electronic signature shall be deemed as acceptable as an original signature and shall be treated as such.

 

8. Costs of Enforcement. If either party is required to retain legal counsel in order to enforce this Agreement, with or without the commencement of a formal legal action, such party shall be entitled to recover its attorneys' fees and costs from the breaching party.

 

9. No Third-Party Beneficiaries. This Agreement is entered into by the parties for the exclusive benefit of the parties and their respective successors, assigns and affiliated persons referred to herein. Except and only to the extent provided by applicable statute, no creditor or other third party shall have any rights under this Agreement.

 

10. Further Acts. The parties shall promptly take such further acts and execute such other documents as shall be necessary to carry out the intent of this Agreement.

 

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the date first set forth above.

 

 

	
ECRYPT:
	
	   		
	
Ecrypt Technologies, Inc. 
	
	  		
	
By:
	
/s/ Thomas A. Cellucci
	
	
Name:
	
Thomas A. Cellucci
	
	
Title: 
	
CEO
	
	  		
	
MICRO:
	
	  		
	
Micro-Tech Industries Ltd.
	
	   		
	
By:
	
/s/ Neil Yeatman
	
	
Name:
	
Neil Yeatman
	
	
Title: 
	
Secretary
	

 

 

2EXHIBIT 10.2

 

SETTLEMENT AGREEMENT 

 

This SETTLEMENT AGREEMENT (this "Agreement"), dated this 20 day of July, 2015, is entered into by and among eCrypt Technologies, Inc. d/b/a Ecrypt Technologies Inc., a Colorado corporation ("Ecrypt"), and Whonon Trading S.A. ("Whonon"). 

 

RECITALS 

 

WHEREAS, Ecrypt has designated and issued a total of 5,000,000 shares of Series A Convertible Preferred Stock (the "Preferred Stock");

 

WHEREAS, Whonon currently holds 1,783,000 shares of Preferred Stock (the "Preferred Stock");

 

WHEREAS, subject to the terms and conditions set forth in this Agreement, the parties hereto desire for Whonon to return all of the Preferred Stock to the Company immediately for cancellation in consideration of the issuance of Ecrypt common stock to Whonon as set forth herein.

 

AGREEMENT

 

 NOW, THEREFORE, in consideration of the foregoing recitals, the covenants and partial waivers set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, hereby agree as follows:

 

1. Issuance of Common Stock. Ecrypt agrees to immediately issue 16,938,500 shares of Ecrypt common stock to Whonon. 

 

2. Cancellation of Preferred Stock. Whonon agrees to immediately return all shares of Preferred Stock to Ecrypt for cancellation. Whonon hereby agrees to surrender the stock certificate(s) representing the Preferred Stock to the Board of Directors of Ecrypt upon the execution of this Agreement duly endorsed and medallion guaranteed, and hereby agrees that the Preferred Stock shall be returned to Ecrypt's registrar and transfer agent for cancellation. 

 

3. No Admission. Nothing in this Agreement shall be deemed or construed as an admission of liability or wrongdoing on the part of either party to this Agreement.

 

4. Governing Law. This Agreement shall be governed and construed under the laws of the State of Colorado.

 

5. Modifications; Waivers. No purported amendment or modification of this Agreement shall be effective unless it is in writing and signed by all parties hereto. No claimed waiver of any of the provisions of this Agreement shall be effective unless in writing and signed by the party to be charged. 

 

6. Entire Agreement. This Agreement sets forth the entire agreement between the parties with respect to the subject matter hereof. No representations, oral or otherwise, express or implied, other than those specifically contained in this Agreement, have been made between the parties.

 

	 
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7. Counterparts. This Agreement may be executed in one or more subparts or counterparts, with actual, electronic or facsimile signatures, each of which shall be deemed an original, but all of which, together, shall be deemed to constitute a single document. For all purposes in this Agreement, a facsimile or electronic signature shall be deemed as acceptable as an original signature and shall be treated as such.

 

8. Costs of Enforcement. If either party is required to retain legal counsel in order to enforce this Agreement, with or without the commencement of a formal legal action, such party shall be entitled to recover its attorneys' fees and costs from the breaching party.

 

9. No Third-Party Beneficiaries. This Agreement is entered into by the parties for the exclusive benefit of the parties and their respective successors, assigns and affiliated persons referred to herein. Except and only to the extent provided by applicable statute, no creditor or other third party shall have any rights under this Agreement.

 

10. Further Acts. The parties shall promptly take such further acts and execute such other documents as shall be necessary to carry out the intent of this Agreement.

 

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the date first set forth above.

 

 

	
ECRYPT:
	
	  		
	
Ecrypt Technologies, Inc. 
	
	  	  	
	
By:
	
/s/ Thomas A. Cellucci
	
	
Name:
	
Thomas A. Cellucci
	
	
Title: 
	
CEO
	
	     		
	
WHONON:
	
	   	   	
	
Whonon Trading S.A. 
	
	  	   	
	
By:
	
/s/ Neil Yeatman
	
	
Name:
	
Neil Yeatman
	
	
Title: 
	
Secretary
	

 

 

2EX-10.2

 Exhibit 10.2 

Execution Copy 
 INDENTURE
SUPPLEMENT 
 This INDENTURE SUPPLEMENT, dated June 24, 2015 (this “Supplement”), by and among
Marriott Vacations Worldwide Owner Trust 2011-1, as issuer (the “Issuer”), Marriott Ownership Resorts, Inc. (“MORI”), as servicer (the “Servicer”), Wells Fargo Bank, National Association, as
indenture trustee (the “Indenture Trustee”) and as back-up servicer (the “Back-Up Servicer”), Deutsche Bank AG, New York Branch, as administrative agent, and the Conduits, Alternate Purchasers, Funding Agents and
Non-Conduit Committed Purchasers signatory hereto (collectively, the “Transaction Parties”). 
 RECITALS 

WHEREAS, the Transaction Parties desire to amend the Third Amended and Restated Indenture and Servicing Agreement, dated as of
September 1, 2014 (the “Indenture”), by and among the Issuer, the Servicer, the Indenture, Trustee and the Back-Up Servicer, in the manner set forth herein. 

WHEREAS, the Indenture may be amended by the parties thereto with the consent of the Majority Facility Investors; 

WHEREAS, the undersigned Conduits, Alternate Purchasers, Funding Agents and Non-Conduit Committed Purchasers constitute 100%
of the Conduits, Alternate Purchasers, Funding Agents and Non-Conduit Committed Purchasers; and 
 WHEREAS, terms used
herein but not otherwise defined shall have the meanings set forth in the Third Amended and Restated Standard Definitions attached as Annex A to the Indenture. 

NOW, THEREFORE, in consideration of the mutual promises hereinafter set forth, and for other good and adequate consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

Section 1.01.   Supplement to the Indenture 

Section 6.03 of the Indenture shall be amended by adding the following clause (f) thereto: 

“(f) Notwithstanding anything to the contrary set forth in this Indenture, the Indenture Trustee shall not sell or
otherwise liquidate the Trust Estate following an Event of Default without the consent of Holders of 100% of the Notes which are Outstanding if the proceeds of such sale or liquidation would be less than all amounts due and owing under the Notes or
otherwise payable to Noteholders under the Facility Documents.” 

 Section 2.01.   Representations and
Warranties 
 Each of the Issuer and MORI represents and warrants to each of the other Transaction Parties that:

  

	 	(a)	 it is duly organized, validly existing and is in good standing under the laws of the jurisdiction of its organization; 

 

	 	(b)	 the execution, delivery and performance by it of this Supplement have been duly authorized; and 

 

	 	(c)	 this Supplement is binding upon it and is legally enforceable against it in accordance with its terms, except as enforceability may be limited by
applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights generally or equitable principles relating to enforceability. 

Section 2.02.   References in all Transaction Documents. 

To the extent any Transaction Document contains a provision that conflicts with the intent of this Supplement, the parties
agree that the provisions herein shall govern. 
 Section 2.03.   Counterparts.

 This Supplement may be executed (by facsimile or otherwise) in any number of counterparts, each of which counterparts
shall be deemed to be an original, and such counterparts shall constitute but one and the same instrument. 

Section 2.04.   Governing Law. 

THIS SUPPLEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE SUBSTANTIVE LAWS OF THE STATE OF NEW YORK APPLICABLE
TO AGREEMENTS MADE AND TO BE PERFORMED IN THE STATE OF NEW YORK AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE TRANSACTION PARTIES SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

Section 2.05.   Severability of Provisions. 

If any one or more of the covenants, agreements, provisions or terms of this Supplement shall be for any reason whatsoever
held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Supplement and shall in no way affect the validity or enforceability of the other
provisions of this Supplement. 
 Section 2.06.   Continuing Effect. 

Except as expressly amended hereby, each Transaction Document shall continue in full force and effect in accordance with the
provisions thereof and each Transaction Document is in all respects hereby ratified, confirmed and preserved. 

  
 2 

 Section 2.07.   Successors and Assigns. 

This Supplement shall be binding upon and inure to the benefit of the Transaction Parties and their respective successors and
permitted assigns. 
 Section 2.08   No Bankruptcy Petition. 

(a)       Each party hereto hereby covenants and agrees that, prior to the date which is one
year and one day after the payment in full of all outstanding Related Commercial Paper or other indebtedness of a Conduit, it will not institute against, or join any other Person in instituting against a Conduit any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings or other similar proceeding under the laws of the United States or any state of the United States or any other jurisdiction with authority over such Conduit. The provisions of this
Section 2.08(a) shall survive the termination of this Agreement. 
 (b)       Each party
hereto hereby covenants and agrees that, prior to the date which is one year and one day after the payment in full of all Notes and Exchange Notes, it will not institute against, or join any other Person in instituting against the Issuer or the
Seller any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar proceeding under the laws of the United States or any state of the United States. The provisions of this Section 2.08(b) shall survive
the termination of this Agreement. 
 [Signature pages follow] 

  
 3 

 IN WITNESS WHEREOF, the parties below have caused this Amendment to be duly executed by their
respective duly authorized officers of the day and year first above written. 
  
  

					
	MARRIOTT VACATIONS WORLDWIDE
	OWNER TRUST 2011-1, as Issuer
		
	By: 	 	Wilmington Trust, National Association, not individually, but solely in its capacity as Owner Trustee
			
		 	By:	 	 /s/ Rachel L. Simpson

		 		 	Name: Rachel L. Simpson
		 		 	Title:   Assistant Vice President
	
	Address for notices:
	c/o Wilmington Trust, National Association
	1100 North Market Street
	Wilmington, Delaware 19801
	
	Attention: Rachel L. Simpson
	Telephone Number: (302) 636-6128
	Facsimile Number: (302) 636-4140
	
	MARRIOTT OWNERSHIP RESORTS, INC., as Servicer
		
	By:	 	 /s/ Joseph J. Bramuchi

		 	Name: Joseph J. Bramuchi
		 	Title:   Vice President
	
	Address for notices:
	6649 Westwood Boulevard
	Orlando, Florida 32821
	
	Attention: General Counsel
	Telephone: (407) 206-6000
	Facsimile: (407) 513-6680

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Indenture Trustee and Back-Up Servicer
		
	By:		 /s/ Jennifer C. Westberg

			Name: Jennifer C. Westberg
			Title:   Vice President
	
	Address for notices:
	
	Wells Fargo Bank, National Association
	MAC N9311-161
	Sixth Street & Marquette Avenue
	Minneapolis, Minnesota 55479
	
	Attention:         Corporate Trust
	 Services/Asset-Backed Administration

	Facsimile Number:      (612) 667-3539
	Telephone Number:     (612) 667-8058

 
			
	DEUTSCHE BANK AG, NEW YORK BRANCH,
	as Administrative Agent
		
	By:		 /s/ Daniel Gerber

			Name: Daniel Gerber
			Title:   Director
		
	By:		 /s/ Robert Sheldon

			Name: Robert Sheldon
			Title:   Managing Director
	
	Address for notices:
	60 Wall Street
	New York, New York 10005
	
	Attention: Mary Conners
	Telephone: (212) 250-4731
	Facsimile:  (212) 797-5300

 
			
	MOUNTCLIFF FUNDING LLC
	as Conduit
		
	By:		 /s/ Josh Borg

			Name: Josh Borg
			Title:   Authorized Signatory
	
	Address for notices:
	20 Gates Management LLC
	30 Irving Place, 2nd Floor
	New York, NY 10003
	
	Attention: Vidrik Frankfather
	Telephone: (212) 295-4146
	Facsimile:  (212)  295-3785

 
			
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH
	as Alternate Purchaser
		
	By:		 /s/ Patrick J. Hart

			Name: Patrick J. Hart
			Title:   Authorized Signatory
		
	By:		 /s/ Jason D. Muncy

			Name: Jason D. Muncy
			Title:   Authorized Signatory
	
	Address for notices:
	Eleven Madison Avenue
	New York, NY 10010
	
	Attention: Conduits and Credit Products Group
	Telephone: (212) 325-6688
	Facsimile:  (212) 325-4599

 
			
	CREDIT SUISSE AG, NEW YORK BRANCH
	as Funding Agent
		
	By:		 /s/ Patrick J. Hart

			Name: Patrick J. Hart
			Title:   Vice President
		
	By:		 /s/ Jason Muncy

			Name: Jason Muncy
			Title:   Vice President
	
	Address for notices:
	Eleven Madison Avenue
	New York, NY 10010
	
	Attention: Conduits and Credit Products Group
	Telephone: (212) 325-6688
	Facsimile:  (212) 325-4599

 
			
	SUNTRUST BANK
	as Non-Conduit Committed Purchaser
		
	By:		 /s/ Michael Peden

			Name: Michael Peden
			Title:   Vice President
	
	Address for notices:
	3333 Peachtree Street NE
	10th Floor East
	Atlanta, Georgia 30326
	
	Attention: Kayla Williams and David Morley
	Telephone: (404) 926-5475
	Facsimile:  (404) 495-2171

 
			
	DEUTSCHE BANK AG, NEW YORK BRANCH
	as Non-Conduit Committed Purchaser
		
	By:  		 /s/ Daniel Gerber

			Name: Daniel Gerber
			Title:   Director
		
	By:		 /s/ Robert Sheldon

			Name: Robert Sheldon
			Title:   Managing Director
	
	Address for notices:
	60 Wall Street
	New York, New York 10005
	
	Attention: Mary Conners
	Telephone: (212) 250-4731
	Facsimile:  (212) 797-5300

 
			
	BANK OF AMERICA, N.A.
	as Non-Conduit Committed Purchaser
		
	By:  		 /s/ Robert R. Wood

			Name: Robert R. Wood
			Title:   Director
	
	Address for notices:
	Bank of America, National Association
	214 North Tryon Street, 15th Floor
	NC1-027-15-01
	Charlotte, North Carolina 28255
	Attention: Securitization Finance Group c/o Robert Wood / Christen Picoli
	Telephone: 980-388-5938 / 980-388-8138

 
			
	WELLS FARGO CAPITAL FINANCE, LLC
	as Non-Conduit Committed Purchaser
		
	By:  		 /s/ Ajay Jagsi

			Name: Ajay Jagsi
			Title:   Vice President
	
	Address for notices:
	14241 Dallas Parkway, Suite 1300
	Dallas, Texas 75254
	
	Attention: Ajay Jagsi
	Telephone: (972) 361-7220
	Facsimile:  (866) 719-9124

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