Document:

Exhibit 10.12

 

Patent
Authorization

 

Patent Authorization

 

I am Yang Hengfei (ID No.: 211022198007056571)
and hereby authorizes the drive wheel (2) (patent No.: ZL2020304814113) to Shanghai Qige Power Technology Co., Ltd. for free use. The
use period is the date of termination of the cooperation between the authorized person and the authorized person. The authorized person
shall not be used for other profit activities in violation of the law. If the authorized person violates the above provisions, he shall
bear the corresponding legal liabilities.

 

Authorized by: Yang Hengfei

Authorized person: Shanghai Qige
Power Technology Co., LTD.

Authorization date: June 30,2021

 

    	 

    	 

    

 

Patent
Authorization

 

Patent Authorization

 

Yang Hengfei (ID No.: 211022198007056571)
hereby authorizes the DC brushless motor (patent No: ZL2020209729056) to Shanghai Qige Power Technology Co., Ltd. for free use. The use
period is the date of termination of the cooperation between the authorized person and the authorized person. The authorized person shall
not be used for other profit activities in violation of the law. If the authorized person violates the above provisions, he shall bear
the corresponding legal liabilities.

 

Authorized by: Yang Hengfei

Authorized person: Shanghai Qige
Power Technology Co., LTD

Authorization date: January 29,2021

 

    	 

    	 

    

 

Patent
Authorization

 

Patent Authorization

 

I am Yang Hengfei (ID No.: 211022198007056571)
and hereby authorizes the forklift drive wheel (patent No.: ZL2020209728509) to Shanghai Qige Power Technology Co., Ltd. for free use.
The use period is the date of termination of the cooperation between the authorized person and the authorized person.on commission.The
person shall not be used for other profit activities in violation of the law. If the authorized person violates the above provisions,
he shall bear the corresponding legal liabilities.

 

Authorized by: Yang Hengfei

Authorized person: Shanghai Qige
Power Technology Co., LTD

Authorization date: January 13,2021

 

    	 

    	 

    

 

Patent
Authorization

 

Patent Authorization

 

I am Yang Hengfei (ID No.: 211022198007056571)
and hereby authorizes the drive wheel (patent No.: ZL202030238659.7) to Shanghai Qige Power Technology Co., Ltd. for free use. The use
period is the date of termination of the cooperation between the authorized person and the authorized person. The authorized person shall
not be used for other profit activities in violation of the law. If the authorized person violates the above provisions, he shall bear
the corresponding legal liabilities.

 

Authorized by: Yang Hengfei

Authorized person: Shanghai Qige
Power Technology Co., LTD

Authorization date: October 21,2020Exhibit 10.2

 

ASSET PURCHASE AND SALE AGREEMENT

 

BY AND BETWEEN

 

PETERSEN-DEAN, INC., BEACHHEAD ROOFING &
SUPPLY, INC., CALIFORNIA

EQUIPMENT LEASING ASSOCIATION, INC., SOLAR 4 AMERICA, INC., FENCES 4

AMERICA, INC., JAMES PETERSEN INDUSTRIES, INC., PD SOLAR, INC., SONOMA

ROOFING SERVICES, INC., PETERSEN ROOFING AND SOLAR LLC,

PETERSENDEAN TEXAS, INC., RED ROSE, INC., ROOFS 4 AMERICA, INC., TRI-

VALLEY SUPPLY, INC., PETERSENDEAN ROOFING AND SOLAR SYSTEMS, INC.,

AND TD VENTURE FUND, LLC

 

COLLECTIVELY, “DEBTORS”

AND

SOLARJUICE AMERICAN, INC.,

(A WHOLLY-OWNED SUBSIDIARY OF SPI ENERGY CO., LTD.), OR ITS ASSIGNEE

“BUYER”

 

 

 

 

 

 

    	 	 	 

     

    

 

ASSET PURCHASE AND SALE AGREEMENT

 

This ASSET PURCHASE
AND SALE AGREEMENT (“Agreement”)is dated February 5, 2021, for purposes of reference only, and is entered into by and between
PETERSEN-DEAN, INC., BEACHHEAD ROOFING & SUPPLY, INC., CALIFORNIA EQUIPMENT LEASING ASSOCIATION, INC., SOLAR 4 AMERICA, INC., FENCES
4 AMERICA, INC., JAMES PETERSEN INDUSTRIES, INC., PD SOLAR, INC., SONOMA ROOFING SERVICES, INC., PETERSEN ROOFING AND SOLAR, LLC, PETERSENDEAN
TEXAS, INC., RED ROSE, INC., ROOFS 4 AMERICA, INC., TRI-VALLEY SUPPLY, INC., PETERSEN DEAN ROOFING AND SOLAR SYSTEMS, INC., TD VENTURE
FUND, LLC (collectively the “Debtors”) on the one hand, and SOLARJUICE AMERICAN, INC. or its assignee (“Buyer”)
on the other hand. Debtors and Buyer are sometimes referred to herein individually as a “Party” and collectively as
the “Parties.”

 

WITNESSETH:

 

WHEREAS, Debtors
are the owner and operator of a national electric solar installation, battery installation, roofing, and re-roofing business with operations
in California, Nevada, Texas, Colorado, and Florida (the “Business”), which includes commercial and consumer divisions
(respectively the “Commercial Business” and “Consumer Business”); and

 

WHEREAS, on June
11, 2020 (the “Petition Date”), Debtors filed a voluntary petition for relief under Chapter 11 of Title 11 of the United
States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Nevada (the “Bankruptcy
Court”) in bankruptcy cases which are jointly administered under the lead case of Red Rose, Inc. identified as Case No.
20-12814-mkn (herein referred to collectively as the “Bankruptcy Case”); and

 

WHEREAS, Debtors
continue to operate the Business following the Petition Date as debtors in possession pursuant to Sections 1107(a) and 1108 of the Bankruptcy
Code; and obtained a debtor-in-possession factoring facility from LS DE LLC and LSQ Funding Group, L.C. (collectively, the “DIP
Factor”) secured by the DIP Liens (as defined herein); and

 

WHEREAS, on October
19, 2020, Debtors filed in the Bankruptcy Case a Motion for Order Pursuant to Sections 105(a), 363, 365, 503 and 507 of the Bankruptcy
Code and Rules 2002, 6004, 6006, 9007, 9008 and 9014 of the Federal Rules of Bankruptcy Procedure Approving and Authorizing: (A) Bidding
Procedures in Connection With the Sale of Substantially All of the Debtors’ Assets to the Stalking Horse Bidder; (B) Form and Manner
of Notice of the Sale Hearing;

 

(C) 
Sale of Substantially All of the Debtors’ Assets Free and Clear of Liens Claims, Encumbrances, and Other Interests, Except
the DIP Factoring and as Provided in the Stalking Horse Agreement;

 

(D) Purchase
Agreement Relating Thereto; (E) Assumption and Assignment of Certain of the Debtors’ Executory Contracts and Unexpired Leases
Related Thereto; and (F) Related Relief [appearing as ECF No. 1172 in the Bankruptcy Case] (the “Sale
Motion”); and on November 10, 2020, the Bankruptcy Court entered its Amended Order Pursuant to Sections 105(a), 363,
365, 503 and 507 of the Bankruptcy Code and Rules 2002, 6004, 6006, 9007, 9008 and 9014 of the Federal Rules of Bankruptcy Procedure
Approving and Authorizing: (A) Bidding Procedures in Connection With the Sale of Substantially All of the Debtors’ Assets; (B)
Form and Manner of Notice of the Sale Hearing; and (C) Related Relief [entered as ECF No. 1298 in the Bankruptcy Case] (the
“Bid Procedures Order”); and

 

WHEREAS, under
the Bid Procedures Order, the Bankruptcy Court approved Bidding Procedures governing the sale of the Debtors’ Business and permitting
the sale of Commercial Business and Consumer Business separately or together; and

 

WHEREAS, in accordance
with the Bid Procedures Order, Debtors held an auction to sell the Consumer Business’s assets on December 14, 2020, Buyer was the
successful bidder at the auction with a bid of $875,000.00, and the Bankruptcy Court entered an Order Approving Sale of Substantially
All of the Debtors’ Consumer Division Assets to SPI Energy Co., Ltd. (or Its Designee) [entered as ECF No. 1532 in the Bankruptcy
Case] on December 28, 2020 (“Consumer Business Sale Order”); and

 

 

 

    	 	1	 

     

    

 

WHEREAS, Debtors
held an auction to sell substantially all the Commercial Business’s assets on December 21, 2020 (the “Auction Date”);
and Buyer was the successful bidder, with a cash bid of $7,850,000.00 (“Cash Bid”) along with a full, or partial, assumption
of the DIP factoring facility and DIP Liens (collectively the “Successful Bid”); and

 

WHEREAS, the Parties
desire to consummate Debtors’ sale and Buyer’s purchase of the Commercial Business assets and other assets of the Business
(the “Subject Assets”) on certain terms and conditions subject to the approval of the Bankruptcy Court and its entry
of the Sale Order (as defined herein) approving such sale free and clear of any interest in such property (except for the DIP Liens, all
as more specifically provided for in this Agreement, and in accordance with Sections 105, 363, and 365 of the Bankruptcy Code and other
applicable provisions of the Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, and the Bidding Procedures Order; and

 

NOW, THEREFORE,
for and in consideration of the mutual covenants and agreements contained in this Agreement and for 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:

 

ARTICLE I

DEFINITIONS; CONSTRUCTION AND
INTERPRETATION

 

Section 1.1 Definitions. The capitalized
words, terms, and phrases used in this Agreement, including in the preamble and the recitals hereto, shall have the meanings
ascribed to such words, terms, and phrases in the “Glossary of Defined Terms” attached to this Agreement as APPENDIX
A.

 

Section 1.2 Construction
and Interpretation. Unless the context of this Agreement requires otherwise: (a) words of any gender include each other gender; (b)
words using the singular or plural number also include the plural or singular number, respectively; (c) the words “hereof,”
“herein,” “hereby,” “hereto,” and similar words refer to this entire Agreement and not to any particular
Article, Section, Exhibit, Schedule, Appendix, or any other subdivision of this Agreement; (d) references to “Article,” “Section,”
“Exhibit,” “Schedule,” or “Appendix” are to the Articles, Sections, Exhibits, Schedules, and Appendices,
respectively, of this Agreement; (e) the words “include” or “including” shall be deemed to be followed by the
phrases “without limitation” or “but not limited to” whether or not such words are followed by such phrases or
phrases of like import; (f) references to “this Agreement” or any other agreement or document shall be construed as a reference
to such agreement or document as amended, modified, or supplemented time-to-time and shall include a reference to any document which
amends, modifies, or supplements it; and (g) titles for captions of Sections contained in this Agreement are inserted only as a matter
of convenience and for reference, and in no way define, limit, extend, describe, or otherwise affect the scope or meaning of this Agreement
or the intent of any provision hereof. Each of the Schedules, Exhibits, and Appendices referred to in this Agreement is expressly made
a part hereof. In the event of any inconsistency between the statements in the body of this Agreement and those in the Schedules, Exhibits,
or Appendices, the statements in the body of this Agreement will control. Whenever any provision of this Agreement refers to any Person’s
right to consent to or be satisfied with any action, such consent or satisfaction shall be in the Person’s sole and absolute discretion,
unless the provision granting such Person the right to consent or be satisfied limits the Person’s consent or satisfaction right
in some other manner. Whenever this Agreement refers to a number of days, such number shall refer to calendar days unless Business Days
are specified. All accounting terms used herein and not expressly defined herein shall have the meanings given to them under GAAP.

 

Section 1.3 Draft &
Finalized Schedules. The Parties agree that with the exception Schedule 1.3(a), the Schedules attached to this Agreement upon execution
and delivery may be in draft form, and subject to change with Buyer’s, Debtors’ and DIP Factor’s approval prior to the
Bankruptcy Court’s hearing on the 363 Motion (as defined herein).

 

ARTICLE II

SALE AND PURCHASE OF THE SUBJECT ASSETS

 

Section 2.1 Sale
and Purchase of the Subject Assets. Pursuant to the Sale Order (as defined herein) and subject to the terms and conditions of
this Agreement, Debtors shall sell, transfer, assign, and convey to Buyer free and clear of any and all claims, right, title,
interest or encumbrances (except for the DIP Liens), and Buyer shall, as of the Closing Date, acquire and purchase, free and clear
of any and all right, title, interest or encumbrances (except for the DIP Liens), all of Debtors’ right, title, and interest
in and to the Subject Assets, which consist of all the Business’s assets, except for the assets specifically identified in
Section 2.2 hereof (the “Excluded Assets”). The Subject Assets shall include, but shall not be limited to, the
following:

 

 

 

    	 	2	 

     

    

 

(a)          
all equipment, machinery, parts, tools, appliances, furniture, trade fixtures, signs and signage, motor vehicles, maintenance vehicles,
trailers, office equipment, information technology equipment, computers, phone systems, and all other personal property assets of Debtors
used for or in the operation of the Business (collectively, the “Equipment”), including without limitation, those items
more specifically listed on Schedule 2.1(a) hereto and incorporated herein by this reference, together with any replacements or
additions to the Equipment made prior to the Closing;

 

(b)          
all inventories and supplies owned by Debtors and used in connection with the operation of the Business (collectively, the “Supplies”
and, together with the Equipment, the “Personal Property”), including without limitation, those items more specifically
listed on Schedule 2.1(b) hereto and incorporated herein by this reference, together with any replacements or additions to the
Supplies made prior to the Closing, but excluding inventory disposed of in the ordinary course of Debtors’ Business prior to the
Closing;

 

(c)          
Executory Contracts assumed by Debtors and assigned to Buyer pursuant to Section 5.2, including without limitation, unexpired leases
(collectively, the “Assigned Contracts”); provided, however, that if any Assigned Contract is recharacterized by the
Final Order (as defined herein) to not be an Executory Contract, then the property that is subject to such Assigned Contract and all of
Debtors’ rights thereunder shall be part of the Subject Assets transferred free and clear of all claims, liens and encumbrances
(except for the DIP Liens);

 

(d)          
all of Debtors’ rights and interests in and to all accounts receivable of Debtors’ Business, including without limitation,
those set forth on Schedule 2.1(d) hereof, subject to the rights of the DIP Factor under the DIP Factoring Agreement and the DIP Factoring
Order and payment defenses of account debtors;

 

(e)          
all right, title, and interest in and to any and all general intangibles, copyrights, trademarks, trade names, service marks, patents,
trade secrets, displays, symbols, color arrangements, methods, designs and logos, licenses, websites, email and domain names and/or accounts,
and names of Debtors and the Business landline and mobile telephone numbers and extensions used in or for the Business and/or relating
to and/or used by Debtors in the ownership, use, and/or operation of the Business and/or the Subject Assets, and other names, words, or
devices and related applications and registrations (collectively, the “Intellectual Property Rights”), as may be more
specifically set forth on Schedule 2.1(e) hereto and incorporated herein by this reference;

 

(f)           
all plans and specifications, vendor lists, commercial customer lists, business, financial and accounting books and records, financial
statements, computer files and records, reports and studies, marketing, advertising, promotional materials, and sales plans, information
and studies, and other similar reports used in the ownership or operation of the Business by Debtors (collectively, “Books and
Records”);

 

(g)          
all manufacturers’ or other assignable warranties applicable to any other items included in the Subject Assets (the “Warranties”)
and all assignable permits, licenses, approvals, and other authorizations issued by any Governmental Authority (as defined herein) or
entity in connection with the Business (the “Permits and Licenses”), in each instance to the extent assignable;

 

(h)          
with the exception of the LEAF Collateral (as defined herein), all computer hardware and software used by Debtors in the operation
of the Business or the Subject Assets and computer software owned or licensed by Debtors and used in connection with the Business or the
Subject Assets, to the extent transferable, including, without limitation, if possessed by Debtors, all source codes and data, whether
on tape, disc, or other computerized format, and all related user manuals, computer records, service codes, programs, stored materials,
and databases, including, without limitation, all access codes and instructions needed to obtain access to and to utilize the information
contained on such computer records (collectively, the “Computer Software”);

 

(i)             
all insurance policies or contracts listed on Schedule 2.1(i) including any earned/unearned insurance premiums and/or collateral
under said policies;

 

(j)             
any outstanding letters of credit, to be expressly assumed by Debtors and assigned to Buyer, upon terms satisfactory to Buyer and
the letter of credit holder(s) more particular described in Schedule 2.1(j) herein;

 

(k)            
The real property owned by Red Rose, Inc. and/or Petersen-Dean, Inc. located at 1061 Indio Ct, Pahrump, Nevada 89048 with APN 39-491-03
(the “Pahrump Property”).

 

 

 

 

    	 	3	 

     

    

(l)             
such other assets of Debtors as may be necessary to operate the Business after the Closing Date substantially as previously operated
by Debtors or material to the operation of the Business as of the date of this Agreement, other than those Excluded Assets expressly set
forth in Section 2.2 below.

 

Section 2.2 Excluded Assets. Excluded Assets consist
of the following:

 

(a)            
the consideration delivered to Debtors pursuant to this Agreement, and all of Debtors’ rights and interests arising under
or in connection with this Agreement;

 

(b)            
all cash of Debtors;

 

(c)            
all formation and organization documents, annual, special and all meeting minutes books, corporate and stock record books, corporate
seal and stamps, and all other documents relating to the legal existence of Debtors, and all income Tax returns and records, and nontransferable
licenses, permits, approvals, and other authorizations; provided, however, that copies of such corporate and Tax records and nontransferable
licenses, permits, approvals, and other authorizations shall be provided to Buyer at the Closing at the request of Buyer;

 

(d)            
those certain accounts receivable due and owing from the Objecting Customers as defined under the Final Order Authorizing Payment
of Critical Vendor Claims [entered September 3, 2020, as ECF No. 917 in the Bankruptcy Case] as NRP Contractors II LLC, Thompson Thrift
Construction, Inc., Rampart Construction Company, LLC, Rampart Multifamily LLC, John Mourier Construction, Inc., Beazer Homes Texas, L.P.,
and Beazer Homes Holdings, LLC;

 

(e)            
proceeds from the auction by CA Global Partners, Incorporated, of Debtors’ Assets, including solar modules, batteries, vehicles,
equipment, office furniture, and other property, as defined under the Order Authorizing: (A) Employment and Compensation of CA Global
Partners, Incorporated, as Auctioneer; and (B) Sale of Solar Modules and Related Assets Free and Clear [entered September 22, 2020,
as ECF No. 1001 in the Bankruptcy Case];

 

(f)             
remaining proceeds in the approximate amount of Sixty Thousand Dollars ($60,000.00) from the sale of the fifteen (15) used Vehicles,
as defined under the Order Authorizing Sale of Used Vehicles Free and Clear [entered October 15, 2020, as ECF No. 1163 in the Bankruptcy
Case];

 

(g)          
proceeds from the sale of the Batteries as defined under the Order Authorizing Sale of Tesla Powerwall Batteries Free and Clear
[entered October 15, 2020, as ECF No. 1161 in the Bankruptcy Case];

 

(h)          
proceeds from the Debtors’ completed December 15, 2020 sale through CA Global Partners, Incorporated, or other auctioneer,
of fifteen (15) vehicles and ten (10) gradalls, lifts, and other equipment, as defined in the Order Authorizing: (A) Employment and
Compensation of CA Global Partners, Incorporated, as Auctioneer; and (B) Sale of Vehicles and Miscellaneous Assets Free and Clear [entered
November 24, 2020, as ECF No. 1397 in the Bankruptcy Case];

 

(i)           
the assets previously purchased by Buyer pursuant to the Consumer Business Sale Order and the proceeds thereof;

 

(j)           
Debtors’ workers compensation insurance policies and Debtors’ directors and officers insurance policies;

 

(k)          
The loss carry forward tax return as relating to Petersen Dean, Inc. which is in process with the Internal Revenue Service which
is anticipated to be approximately $838,000.

 

(l)           
That certain promissory note in the original principal amount of One Million Eight Hundred Thousand Dollars ($1,800,000), from
James Whitcomb and Haleakala Solar, Inc., a Hawaii corporation, as maker, to Debtors, as payee, associated with the sale of certain assets
of PD Hawaii under that certain Asset Purchase and Interim Management Agreement approved by the Bankruptcy Court on August 28, 2020 by
that certain Order Granting Motion of Debtor for Order Authorizing the Sale of Substantially All of its Assets Free and Clear of All
Liens, Claims and Encumbrances, and For Related Relief [Dkt. 954, Case no. BK-S-20-12814-mkn], and all proceeds thereof, as set forth
more specifically in the Claims Settlement and 363 Sale Support Agreement and Releases dated October 28, 2020 between the Debtors,
ACF, and the Committee (the “ACF/UCC Settlement Agreement”), approved by the Order Granting Debtors’ Motion for Approval
of Compromise, Pursuant to Fed. R. Bankr. P. 9019, by and among Debtors, ACF Finaco I, CP and the Official Committee of Unsecured Creditors
[entered on November 16, 2020 as ECF No. 1328 in the Bankruptcy Case],

 

 

    	 	4	 

     

    

 

(m)        
Any and all claims that Debtors’ estates may have against Jim Petersen and/or Tricia Petersen individually and all proceeds
thereof, as defined as the “Petersen Claims” and set forth more specifically in the ACF/UCC Settlement Agreement,

 

(n)          
Any and all real property and personal property of Jim Petersen and the bankruptcy estate thereof, Tricia Petersen, and the bankruptcy
estate thereof, TD Venture Fund, LLC, and the bankruptcy estate thereof, and all proceeds of all of the foregoing, including but not limited
to the “Hawaii Property,” and the “Membership Interest”, as each is defined and set forth more specifically in,
and to be transferred to ACF under, the ACF/UCC Settlement Agreement, and any and all other rights granted ACF pursuant to, or in accordance
with, that certain Order Granting Debtors’ Motion for Approval of Compromise, Pursuant to Fed. R. Bankr. P. 9019, by and among
TD Venture fund, LLC, James P. Petersen, Tricia Yeh Petersen and ACF Finco I, LP [ECF 1460],

 

(o)          
Any and all claims covered under the Debtors' director and officer liability policies (the "D&O Covered Claims")
as defined and set forth more specifically in, and to be transferred to ACF under, the ACF/UCC Settlement Agreement,

 

(p)          
all claims and causes of action, inclusive of Debtors’ commercial tort claims, except the Petersen Claims (as defined in
the ACF/UCC Settlement Agreement) that constitute property of Debtors' bankruptcy estates under Section 541 of the Bankruptcy Code, and/or
any other applicable federal or state law, and all claims, causes of action, proceeds and rights to proceeds therefrom, as defined as
the “Chapter 5 Claims” and set forth more specifically in, and to be transferred to ACF under, the ACF/UCC Settlement Agreement;
and

 

(q)          
Any other specified assets encumbered by ACF that are allocated to Debtors’ estates or their successors under the ACF/UCC
Settlement; and

 

(r)           
Those certain accounts receivable purchased by DIP Factor prior to the Closing Date pursuant to the DIP Factoring Agreement and
DIP Factoring Order (“Factored Receivables”).

 

Section 2.3 Consents.
Notwithstanding any other provision of this Agreement, this Agreement does not affect an assignment of any Assigned Contract to the extent
that such Assigned Contract is not assignable under the Bankruptcy Code without the consent of the other party or parties thereto, and
the consent of such other party has not been given or received, as applicable. As to any Subject Assets (including any Assigned Contract),
Debtors will use their commercially reasonable efforts to obtain as promptly as practicable prior to the Closing, any required consent
to transfer such Subject Assets to Buyer or, if required, for novation thereof to Buyer or, alternatively, written confirmation from such
parties reasonably satisfactory to Buyer that such consent is not required. In no event, however, will Debtors be obligated to pay any
money to any Person or to offer or grant financial or other accommodations to any Person in connection with obtaining any consent, waiver,
confirmation, novation, or approval with respect to any such Assigned Contract; provided, however, Buyer may provide Debtors with the
funding for the foregoing in Buyer’s sole and absolute discretion.

 

Section 2.4 No Real Property.
Debtors represent and warrant that they do not own any fee simple title to any real property other than the Pahrump Property.

 

ARTICLE III

LIABILITIES

 

Section 3.1 Assumed Liabilities.
In accordance with the provisions of this Agreement and the Sale Order, at the Closing, Buyer will assume and pay or perform and discharge
when due only the following liabilities of Debtors in each instance other than the Retained Liabilities, and no other liabilities (collectively,
the “Assumed Liabilities”), and, except for the Assumed Liabilities, Buyer shall not be deemed to have assumed any
other liabilities of Debtors:

 

(a)       Subject
to the Amended and Restated Invoice Purchase Agreement (the “AIPA”), the Assumed Secured Obligations (as defined in
Appendix A).

 

 

 

    	 	5	 

     

    

 

(b)          
all liabilities arising after the Closing Date under the Assigned Contracts together with all amounts necessary to
cure existing defaults as a prerequisite to assumption by Debtors and assignment to Buyer (“Cure Amounts”), which Cure
Amounts are Assumed Liabilities.

 

(c)          
all liabilities, accounts, and accounts payable arising out of, relating to, or incurred in connection with the Business or the
Subject Assets arising after the Closing Date that were incurred from the operation of the Business by Buyer after the Closing
Date.

 

Section 3.2 Retained Liabilities.
Other than the Assumed Liabilities, Buyer shall not, is not obligated to, and does not hereby assume or become liable on or with respect
to any Contracts of, or for or with respect to any indebtedness, obligations, commitments, or liabilities of Debtors, direct or indirect,
known or unknown, or absolute, vested, or contingent, all of which shall be retained by Debtors (herein referred to collectively as the
“Retained Liabilities”). Without limiting the generality of the foregoing, Buyer shall NOT assume or become liable
for, and the Retained Liabilities shall include the following:

 

(a)          
any liabilities, obligations, and accounts payable of Debtors with respect to, or arising from, the Business which are not specifically
included as an Assumed Liability, including, without limitation, Secured Obligations owed to DIP Factor not included in the Assumed Secured
Obligations (including those exceeding the DIP Cap), indebtedness owed to ACF FINCO I, LP and legal fees and expenses of Debtors’
counsel, Fox Rothschild LLP, or any professional employed by the Debtors, or professional employed in the Bankruptcy Case such as counsel
for the Official Committee of Unsecured Creditors, or any fees owing to the United States Trustee’s Office;

 

(b)          
all liabilities and obligations arising under any Contracts that are not Assigned Contracts, and all liabilities and obligations
arising under the Assigned Contracts for periods of time prior to as of the Closing Date other than the Cure Amounts, including without
limitation, liabilities arising from any complaints, lawsuits or adversary proceedings filed against Debtors (or which could be filed
against Debtors) prior to the closing;

 

(c)          
all debt and financing obligations of Debtors arising at any time, except for the Assumed Secured Obligations under the DIP Factoring
Agreement specifically agreed to be assumed by Buyer set forth in Section 3.1(a) above;

 

(d)          
any liabilities and obligations of Debtors with respect to any employees or independent contractors of Debtors or the Business,
including, without limitation, pursuant to any employment agreements, independent contractor agreements, executive compensation agreements,
employee or executive benefit plans, employee insurance plans, and for salaries, wages, overtime, accrued vacation time, or other benefits
payable to any employees of Debtors or of the Business;

 

(e)          
any liability or obligation of Debtors resulting from the consummation of the transactions contemplated herein and arising under
or related to the WARN Act;

 

(f)           
all liabilities and obligations arising out of or in any way related to the ownership or operation of the Business or the Subject
Assets prior to or occurring on the Closing Date (including any Taxes relating to the Business or the Subject Assets payable prior to,
or for periods of time prior to or occurring on, the Closing Date);

 

(g)          
all liabilities to any federal, state, or local Governmental Authority, or to any special purpose district, for unpaid Taxes of
any type or description, or penalties or interest thereon, arising by reason of the ownership, use, and/or operation of the Business or
Subject Assets prior to the Closing Date;

 

(h)          
any sales/use Tax, in each instance arising from the implementation and closing of the transactions contemplated by this Agreement,
whether or not imposed on or measured by income, including any amounts due or which may become due and owing under NRS 244.335, NRS 244.3352,
NRS 360.525, and NRS 612.695;

 

(i)           
all actions, causes of action, claims, pending or threatened litigation, arbitration, judgments, settlements or other proceedings,
or pursuant to any governmental or regulatory actions, investigations, or proceedings related to or with respect to Debtors or the Business
or the Subject Assets first arising or incurred or in connection with any events occurring prior to the Closing Date; and

 

 

 

    	 	6	 

     

    

 

(j)           
The Non-Assumed Secured Obligations (as defined in Appendix A)

 

(k)          
any other liability, obligation, or commitment not specifically and expressly assumed by Buyer herein and hereunder.

 

ARTICLE IV

PURCHASE PRICE AND PAYMENT

 

Section 4.1 Purchase
Price and Payment. The consideration for the Subject Assets (the “Purchase Price”) shall consist of: (i) the Cash
Bid as adjusted pursuant to Section 4.4 hereof; (ii) the assumption of the Assumed Secured Obligations, (iii) assumption of the
Assumed Liabilities, and (iv) payment of the Cure Amounts. Buyer agrees to pay the Cash Bid of the Purchase Price as follows:

 

(a)          
Payment of an earnest money deposit in the amount of $785,000.00 (“Earnest Money Deposit”), which was paid to
Debtors on December 23, 2020. Except as provided in the Interim Management Agreement (as defined herein) if applicable, Debtors shall
hold the Earnest Money Deposit in trust pending the Closing or earlier termination of this Agreement. The Earnest Money Deposit shall
become non-refundable, but remain applicable to the Purchase Price upon expiration of the Due Diligence Period (as defined in Appendix
A) unless Buyer cancels the Agreement during the Due Diligence Period in accordance with Section 6.2 herein. If Buyer cancels the
Agreement in accordance with Section 6.2 of this Agreement, any portion of the Earnest Money Deposit not utilized for Debtors’ operations
pursuant to the IMA shall be returned to Buyer within ten (10) Business Days.

 

(b)          
Payment of the balance of the Adjusted Cash Bid amount to Debtors in immediately available funds.

 

Section 4.2 Allocation
of Purchase Price. The allocation of the Purchase Price among the Subject Assets for income Tax reporting purposes shall be as agreed
upon by Buyer and Debtors prior to Closing.

 

Section 4.3 Prorations.
All personal property Taxes applicable to the Business shall be prorated between the Parties on the Closing Date, with Debtors responsible
for the time period through and including the Closing Date and Buyer responsible for the time period after the Closing Date. Buyer shall
open accounts with any third-party utility companies providing service to the Business (including electrical, water, sanitary sewer, gas,
telephone, and internet/cable, as applicable) and for trash removal services, as applicable, in its own name commencing on the first Business
Day after the Closing Date, and Debtors shall be responsible for, and shall close out and make final payments with respect to, all such
services to the Business on or before the Closing Date.

 

Section 4.4 Adjustment in Purchase Price.

 

(a)            
The Parties acknowledge and understand that the Successful Bid was based on information available to bidders in Debtors’
data room, and Buyer relied upon this information in making its Cash Bid on the Auction Date. The Parties further acknowledge that during
the Due Diligence Period, the Parties have determined that certain information in Debtors’ data room pertaining to Debtors’
equipment, accounts receivables, and work-in-progress as of the Auction Date was incomplete and/or inaccurate; and further agree to a
downward adjustment in the Purchase Price.

 

(b)            
Without limiting the generality of the foregoing, the Parties agree that the Debtors have fewer vehicles, trailers and lifts than
reported; and have determined that as of the date of this Agreement, there are approximately twelve (12) missing vehicles, thirty-one
(31) missing trailers, and fifty-two (52) missing lifts. As a result of the missing equipment, the Parties agree that the cash component
of the Purchase Price is hereby adjusted downward by the sum of $1,000,000.00, resulting in an adjusted Cash Bid of $6,850,000.00
(“Adjusted Cash Bid”) to be paid by Buyer at Closing.

 

 

 

    	 	7	 

     

    

 

ARTICLE V

BANKRUPTCY COURT MATTERS

 

Section 5.1 Bankruptcy Court Approval.

 

(a)            
Buyer and Debtors acknowledge that, under the Bankruptcy Code, the purchase and sale of the Subject Assets is subject to approval
of the Bankruptcy Court.

 

(b)            
Within five business (5) days following execution and delivery of this Agreement, Debtors shall file with the Bankruptcy Court
a motion for an order approving the sale of the Subject Assets to Buyer and approving the assumption and assignment of the Assigned Contracts
free and clear of all right, title, interest or encumbrances (except the DIP Liens) pursuant to Sections 363(b) and 363(f) of the Bankruptcy
Code, which motion shall contain, among other things: (i) a waiver of the stay imposed by Federal Rule of Bankruptcy Procedure 6004(h);
(ii) resolution of any objections to the assumption and assignment of Executory Contracts or to a proposed Cure Amount agreed to Buyer;
and (iii) findings of fact determining that Buyer is a good

 

faith purchaser entitled to the protections of
Section 363(m) of the Bankruptcy Code (“Sale Order”). Said motion is hereafter referred to as the “363 Motion.”
The Parties agree that the form of Sale Order sought by the 363 Motion shall be substantially similar to that attached hereto as Exhibit
“B” hereto, and shall provide that security interests granted by Debtors in favor of ACF and LSQ attached to the sale’s
proceeds.

 

(c)          
The Sale Order, once entered by the Bankruptcy Court, shall be a “Final Order” provided: (i) no appeal, notice
of appeal, motion to amend or make additional findings of fact, motion to alter or amend judgment, motion for rehearing, or motion for
new trial has been timely filed or, if any of the foregoing has been timely filed, it has been disposed of in a manner that upholds and
affirms the subject Sale Order in all respects without the possibility for further appeal or rehearing thereon; (ii) the time for instituting
or filing an appeal, motion for rehearing, or motion for new trial shall have expired; and (iii) no stay is in effect. As a condition
to Closing the sale and of all of Buyer’s obligations hereunder, a Final Order shall have been entered by the Bankruptcy Court in
a form reasonable acceptable to Buyer and Debtors.

 

(d)          
In the event that a Sale Order does not become a Final Order entered by the Bankruptcy Court as contemplated by Section 5.1, Buyer
shall have the right to terminate this Agreement, and the Parties shall have no further obligations to one another except for those expressly
surviving termination under the terms of this Agreement or the Interim Management Agreement.

 

Section 5.2 Assumption
& Assignment of Executory Contracts and Unexpired Leases. The Sale Order shall provide for Debtors’ assumption, and assignment
to Buyer, of the Executory Contracts and Unexpired Leases set forth on Schedules 5.2(a) through 5.2(d) hereto (the “Contract
& Cure Schedule”) under Section 365 of the Bankruptcy Code. The Cure Amounts for each Executory Contract shall be set forth
in the Contract & Cure Schedule; and shall be paid by the Buyer in addition to the Cash Bid upon Closing. Unless the Bankruptcy Court
orders otherwise, each Executory Contract and Unexpired Lease included on the Contract & Cure Schedule will be deemed to have been
assumed by Debtors and assigned to Buyer and become an Assigned Contract on the Closing Date (the “Assumption Effective Date”).

 

ARTICLE VI

DUE DILIGENCE

 

Section 6.1 Due Diligence
Documents. Debtors have previously made available to Buyer the business, financial and accounting books and records and financial
statements of the Business, as well as all material documents and Contracts related to the ownership and operation of the Business, as
may be updated from time to time through the expiration of the Due Diligence Period (collectively “Due Diligence Documents”).
Until the Closing, Debtors will promptly deliver to Buyer any modifications to the Due Diligence Documents or additional documents that
Debtors obtain or become aware of after delivery of the original Due Diligence Documents. Debtors hereby represent and warrant that,
to the best of Debtors’ knowledge, the Due Diligence Documents constitute all material documents related to the Business and this
Agreement that are in Debtors’ possession or control.

 

 

 

    	 	8	 

     

    

 

Section 6.2 Buyer’s
Investigation. Buyer shall have until 5:00 p.m. Pacific Time on the last day of the Due Diligence Period to determine, in its sole
and absolute discretion, whether the Subject Assets are suitable to Buyer, including, without limitation, the right to review and approve
the financial results of any investigations of the Commercial Business and Subject Assets (including, without limitation, investigations
with regard to governmental regulations and economic feasibility) with respect to the Subject Assets (the “Feasibility Matters”).
If Buyer is not satisfied with the results of its due diligence investigation in its sole and absolute discretion, Buyer may terminate
this Agreement at any time prior to the expiration of the Due Diligence Period by giving Debtors a written notice of termination (“Notice
of Termination”). In the event of such termination, except for those provisions that expressly survive the termination of this
Agreement, neither party shall have any further obligation or liability hereunder. Alternatively, at any time prior to the expiration
of the Due Diligence Period, Buyer may elect to give Debtors written notice unconditionally approving the Feasibility Matters and electing
to proceed to Closing (“Notice of Approval”). In the event Buyer fails to give a Notice of Termination or Notice of
Approval prior to the expiration of the Due Diligence Period, upon the first day immediately following the expiration of the Due Diligence
Period, Buyer shall be deemed to have given a Notice of Termination and this Agreement shall terminate.

 

Section 6.3 New Permits
and Licenses. During the Due Diligence Period, Buyer may, in its sole and absolute discretion, submit applications for any new Permits
and Licenses to applicable Governmental Authorities for approval pending Closing of the transactions contemplated herein. Debtors agree
to cooperate with Buyer in this regard to the extent any Debtors’ Permits and Licenses are not assignable to Buyer.

 

Section 6.4 Preparation
of Contract & Cure Schedule. During the Due Diligence Period, the Parties shall prepare the Contract & Cure Schedule for attachment
to this Agreement as Schedules 5.2(a) through 5.2(d) as follows:

 

(a)          
Within one (1) Business Day after execution of this Agreement, Debtors agree to provide Buyers with an accurate and complete list of all Executory Contracts and associated Cure Amounts in a manageable Excel
format organized in the following categories (“Contract Spreadsheets”):

 

	Schedule	Category of Executory Contracts
	 	 
	5.2(a)	Commercial Solar Roofing & Battery Contracts
	5.2(b)	Unexpired Real Property Leases
	5.2(c)	Unexpired Personal Property Leases
	5.2(d)	Other Executory Contracts

 

(b)          
Debtors’ Contract Spreadsheets shall specify the Cure Amounts for each Executory Contract. In addition, Debtors’ Contract
Spreadsheets shall contain columns next to each Executory Contract for Buyer to complete during the Due Diligence Period indicating which
Executory Contracts Buyer desires to have Debtors reject or assume and assign to Buyer upon Closing; e.g., a column stating: “Reject”
and a column stating: “Assume & Assign.”

 

(c)          
During the Due Diligence Period, Buyer will select which Executory Contracts and unexpired leases that it wants the Debtors to
reject or assume and assign by checking the appropriate column; and thereafter the Parties shall attach the completed Schedules 5.2(a)
through 5.2(d) to the Agreement for Bankruptcy Court Approval.

 

(d)          
Buyer may amend its selection of Executory Contracts on the Contract & Cure Schedule, in its sole discretion at any time prior
to the hearing on the 363 Motion; and Debtors shall supplement their 363 Motion accordingly; provided that a final Contract & Cure
Schedule shall be attached to the Final Order entered by the Court.

 

ARTICLE VII

THE CLOSING; THE CLOSING DATE;
ACTION AT CLOSING

 

Section 7.1Closing.
The closing of the transactions contemplated by this Agreement (the “Closing”) shall occur within, but no later than,
ten (10) days after the Sale Order entered by the Bankruptcy Court becomes a Final Order, but in no event later than February 26, 2021,
on such date as designated by Buyer, at a place mutually agreed upon by the Parties. The date on and time at which the Closing actually
occurs is referred to in this Agreement as the “Closing Date.”

 

 

 

    	 	9	 

     

    

 

Section 7.2 Debtors’Closing Deliverables. At the Closing, and concurrently with the making of the deliveries by Buyer of the Buyer’s Closing Deliverables
as set forth in Section 7.3, Debtors shall deliver, or cause to be delivered, to Buyer the following (herein referred to collectively
as “Debtors’ Closing Deliverables”):

 

(a)          
the duly executed Factoring Assignment and Assumption Agreement (as defined in Appendix A) in form substantially similar
to that in Exhibit C hereof;

 

(b)          
the duly executed Assignment and Assumption Agreement(s) (as defined in Appendix A) in form substantially similar to that
in Exhibit D hereof;

 

(c)          
the duly executed Bill(s) of Sale (as defined in Appendix A) in form substantially similar to that in Exhibit E hereof;

 

(d)          
the duly executed Intellectual Property Assignment Agreement (as defined in Appendix A) in form substantially similar to
that in Exhibit F hereof;

 

(e)          
certificates of title for all vehicles, trailers, and other construction equipment with certificates of titles that are included
as part of the Personal Property; and

 

(f)           
grant, bargain and sale deed conveying the Pahrump Property to Buyer along with executed declaration of value form.

 

Section 7.3 Buyer’s
Closing Deliverables. At the Closing, and concurrently with the making of deliveries by Debtors of the Debtors’ Closing Deliverables
to Buyer as set forth in Section 7.2, Buyer shall deliver, or cause to be delivered, to Debtors the following (herein referred to collectively
as “Buyer’s Closing Deliverables”):

 

(a)            
payment of cash in the amount of the Cash Bid minus a credit for the Earnest Money Deposit, and payment of the Cure Amount(s) to
the respective counterparty to any Assigned Contract);

 

(b)            
the duly executed AIPA in form substantially similar to that in Exhibit A hereof;

 

(c)            
the duly executed Factoring Assignment and Assumption Agreement in form substantially similar to that in Exhibit C hereof;

 

(d)            
the duly executed Assignment and Assumption Agreement(s) in form substantially similar to that in Exhibit D hereof; and

 

(e)            
the duly executed Intellectual Property Assignment Agreement in form substantially similar to that in Exhibit F hereof.

 

Section 7.4 Expenses.
Upon Closing, Buyer shall pay fees for transferring titles to vehicles, trailers and construction equipment with titles. Buyer’s
legal and other professional fees. Debtors shall pay transfer tax and recording fees for the Pahrump Property, and all other costs, fees,
Taxes, and expenses incurred in connection with the Closing.

 

Section 7.5 Further
Assurances. It is the intent of this Agreement that Debtors shall at the Closing convey, or cause to be conveyed, to Buyer all Subject
Assets. Debtors and Buyer agree that at the Closing and any time thereafter, upon the reasonable request of Debtors or Buyer, the other
Party shall execute, acknowledge, and deliver such deeds, assignments, conveyances, transfers, and other instruments and documents, and
shall perform such acts as Debtors or Buyer, as applicable, shall from time to time reasonably require (at no cost to Debtors unless such
request is from Debtors) for the perfecting, assuring, conveying, assigning, transferring and confirming unto Buyer the property and rights
herein conveyed or assigned or intended now or hereafter so to be. The provisions of this Section 7.5 shall survive the Closing.

 

 

 

    	 	10	 

     

    

 

(a)       For
the continuance of the necessary Chapter 11 wind down, Buyer agrees to provide to the Debtors Estate the use of the following people (if
they are included in the Transferred Employees) to assist in the wind down and/or transition stage as relating to critical corporate,
legal, accounting, human resource and other associated tasks that are necessary by Debtors for the Chapter 11 process to conclude up to
an aggregate of 20-hours per week at Debtors’ expense for a period of no more than six (6) months: George Milionis, Garriet-Mitchel
Mendoza, and Danielle Shackelford, Mark Vogel and Terri Vincent. For the operation of the factoring facility under the AIPA, Debtors
agree that, after the Closing Date and for a period of ninety (90) days thereafter, Debtors will forward to the Post-Petition Factoring
Lockbox any and all collections, cash, or other receipts or payments that come into Debtors’ possession on the Factored Receivables
or the Subject Assets, with such remittances to be made once per week, after allowing three (3) business days for collection, less $50.00
per remittance for handling, postage and wire fees; after such ninety (90) day period, Debtors may return such collections, cash, or other
receipts on the Factored Receivables or the Subject Assets to the remitter.

 

(b)       To
facilitate a smooth transition of the Business, Debtors shall during the Transition Period (as defined in Appendix A): (i) assist
Buyer in obtaining new Permits and Licenses permits, licenses, approvals, and other authorizations issued by any Governmental Authority
or entity in connection with the Business to the extent that Debtors’ Permits and Licenses are not assignable, including without
limitation, contractor’s licenses for commercial solar roofing and battery Assigned Contracts described on Schedule 5.2(a) (“Construction
Contract(s)”); (ii) maintain non-assignable Permits and Licenses for Construction Contracts in good standing; (iii) continue performance
under the Construction Contracts with the understanding that Buyer shall pay all expenses related thereto and shall be entitled to receive
the revenues generated therefrom subject to the rights of the DIP Factor; (iv) cooperate with Buyer to ensure collection of funds due
on Construction Contracts for the benefit of Buyer and where applicable, DIP Factor; (v) enter into new Construction Contracts subject
to Buyer’s written pre-approval; (vi) in Buyer’s discretion, maintain applicable insurance coverage for Construction Contracts;
(vii) cause the assignment of each Construction Contract upon Buyer’s receipt of applicable Permits and Licenses; and (viii) perform
other activities reasonably necessary to facilitate a smooth transition of the Business.

 

ARTICLE VIII

REPRESENTATIONS AND WARRANTIES

 

Section 8.1 Representations
and Warranties of Debtors. Debtors represent and warrant for the benefit and reliance of Buyer as follows, as of the date of this
Agreement and as of the Closing Date:

 

(a)          
Status, Power, and Authority. Debtors are duly organized, validly existing, and in good standing under the Laws of the state
of each Debtor’s respective formation, with all requisite corporate or company power and authority to enter into and carry out each
of its obligations under this Agreement, subject to approval of the Bankruptcy Court. Debtors do not have any subsidiaries, other than
the Debtors, that own any of the Subject Assets.

 

(b)          
Due Authorization, Execution, and Delivery. The execution, delivery, and performance of this Agreement by Debtors and the
persons executing the same on behalf of Debtors have been duly and validly authorized, subject to approval of the Bankruptcy Court.

 

(c)          
Legal, Valid, Binding, and Enforceable. This Agreement and the other agreements and instruments contemplated hereby constitute
legal, valid, and binding obligations of Debtors, enforceable in accordance with their respective terms, subject to approval of the Bankruptcy
Court.

 

(d)          
No Consents. Other than consents that may be necessary to assign to Buyer the Assigned Contracts, Intellectual Property
Rights and the Assumed Secured Obligations no material consent, license, permit, order, approval, or authorization of any Governmental
Authority or private party is required in connection with the execution, delivery, and performance of this Agreement by Debtors, other
than the Bankruptcy Court as set forth in Article V above.

 

(e)          
No Conflict/No Breach. The execution, delivery, or performance of this Agreement does not, with or without the giving of
notice and/or the passage of time (a) violate any provision of Law applicable to Debtors, the Subject Assets, or the Business, or which
would prevent the consummation of the transactions contemplated by this Agreement; or (b) conflict with or result in the breach or termination
of, or constitute a default under or pursuant to any judgment, order, injunction, decree, or ruling of, any court or Governmental Authority
by which Debtors, the Subject Assets, or the Business are subject, or which would prevent the consummation of the transactions contemplated
by this Agreement; or (c) result in the creation of any lien, charge, or encumbrance upon any of the Subject Assets.

 

 

 

    	 	11	 

     

    

 

(f)           
Personal Property. Debtors have good title to the Personal Property (other than Personal Property leased or licensed pursuant
to an Assigned Contract); and the Personal Property will be transferred (subject to the terms of any applicable leases or licenses) to
Buyer at the Closing free and clear of any interest in such Personal Property.

 

(g)          
Compliance With Laws. The Business, the use of the Subject Assets by Debtors, and the operation of the Business conform
in all material respects to any and all applicable Laws. Except as previously disclosed to Buyer in writing during the Due Diligence Period,
Debtors have not received any written notice from any Governmental Authority relating to the Business or the Subject Assets claiming any
violation of any such Laws, or requiring any work, repairs, construction, alterations, or installation on or in connection with the Business,
and Debtors have no knowledge of any investigation with respect to the foregoing. The Business complies with the Americans With Disabilities
Act and the Occupational Safety and Health Act.

 

(h)          
Licenses and Permits. Debtors have delivered to Buyer true, correct, and complete copies of: (a) all currently valid certificates
of occupancy for the Business; (b) any and all certificates or reports regarding current inspections of the Business and required operating
licenses or permits issued by any Governmental Authority; and (c) all other current, transferable, assignable, or relinquishable Permits
and Licenses, if any, relating to the Subject Assets and/or the Business.

 

(i)           
Taxes. Debtors have timely filed all Tax returns, reports, and declarations required to be filed in connection with the
income, sales, property, and all other aspects of the Business and/or the ownership and operation thereof, or extensions therefor. No
Taxes shown to be due on such returns, reports, and declarations, including any interest or penalties, are past due. Debtors are not delinquent
in the payment of any Tax, estimated Tax, or assessment. There are no Tax liens affecting any of the Subject Assets, except liens for
non-delinquent personal property Taxes.

 

(j)           
No Litigation. Except for the Bankruptcy Case and as otherwise disclosed on Schedule 8.1(j) hereof, there are no actions,
claims, suits, arbitrations, mediations, or other proceedings pending or, to the best of Debtors’ knowledge, threatened in writing
against Debtors, the Business, or the Subject Assets in any court or before any arbitrator or mediator or any Governmental Authority
(herein referred to collectively as “Actions”) which would prevent Debtors from completing the transactions provided
for herein or would in any way materially and adversely affect the ownership or operation of the Business by Buyer after the Closing
or which would create any liability or obligations of Buyer. There are no Actions against or by Debtors with respect to the Assigned
Contracts. Schedule 8.1(j) identifies all third-party Actions in the nature of personal injury claims against Debtors or with respect
to the Business, all of which have been identified.

 

(k)       Contracts.

 

(i)             
Buyer shall not be obligated to assume any other Contracts, and Debtors shall remain responsible for any Contract, that is not,
or are not an Assigned Contract;

 

(ii)           
on the Closing Date, all originals (or, if Debtors are not in possession of an original, a conformed copy) of the Assigned Contracts
will be delivered by Debtors to Buyer and they will be, when delivered, true, complete, and correct;

 

(iii)         
after payment of the Cure Amounts, no party, including Debtors, to any of the Assigned Contracts is in default or breach of any
of their respective obligations or covenants thereunder, and there exists no event which, with notice or lapse of time, or both, would
constitute an event of default under any Assigned Contract on the part of Debtors or on the part of any counterparty thereto except as
disclosed on Schedule 8.1(k).

 

(l)       Intellectual
Property.

 

(i)             
The Intellectual Property Rights are more particularly described on Schedule 2.1(e) hereof. No other Intellectual Property Rights
are used in the Business as it is presently conducted by Debtors.

 

 

 

    	 	12	 

     

    

 

(ii)           
Debtors are the sole and exclusive owner of all Intellectual Property Rights and have received no notice from any other party pertaining
to Debtors’ use of or challenging the right of Debtors to use the Intellectual Property Rights. Debtors have not granted any licenses
or other rights to use the Intellectual Property Rights and have not agreed to grant any such licenses or other rights.

 

(m)       Insurance.
Schedule 2.1(i) lists all insurance policies being acquired by the Buyer.

 

(n)       No
Orders. No judgment, order, injunction, decree, or ruling of any court or Governmental Authority exists by which Debtors, the Subject
Assets, or the Business are bound, or to which any of them are subject, which in any manner materially or adversely affects the operation
of Business, other than an order entered by the Bankruptcy Court.

 

(o)       Financial
Statements. Except as noted therein and except for normal adjustments with respect to unaudited financial statements, the financial
statements provided by Debtors to Buyer from and after the Petition Date, were prepared in accordance with GAAP and present fairly the
financial position of Debtors and the Business as of such date(s) and the results of all operations and cash flows for the period(s) then
ended.

 

(p)       Absence
of Loss. Since the Auction Date, except as reflected in the financial statements referenced in Section 8.1(o), there has not been
any damage, destruction, or other casualty, loss, or forfeiture with respect to the Personal Property, whether or not covered by insurance,
in excess of $50,000.00 in the aggregate.

 

(q)       Affiliates
of Debtors.

 

(i)             
No Person affiliated with Debtors has owned all or any significant portion of the Subject Assets, and Debtors have not changed
their names.

 

(ii)           
No officer, director, or employee of any of the Debtors, to Debtors’ knowledge, owns, directly or indirectly, in whole or
in part, any property, asset, permit, license, or secret or confidential information which Debtors are using or the use of which is necessary
or material to the conduct of the operations or the Business.

 

(r)       Suppliers
and Vendors. Schedule 8.1(r) sets forth an accurate and complete list of the twenty (20) largest suppliers and vendors of Debtors
in terms of purchases during the twelve (12) months ending December 31, 2020, and the approximate total purchases by Debtors from each
such supplier or vendor during such period.

 

(s)       Investment
Company. Debtors are not an “investment company” or an “affiliated person” thereof, as such terms are defined
in the Investment Company Act of 1940 as amended, and the rules and regulations promulgated thereunder.

 

(t)       Brokers
and Finders. Debtors have not engaged or done business with any Person who may have a claim to, and have not incurred any obligation
or liability to any Person with respect to, any broker or agent fees or commissions, finder’s fees, or other compensation or consideration
as a result of or in connection with the transactions contemplated by this Agreement except for those professionals retained by Debtors
pursuant to Sections 327 and 1103 of the Bankruptcy Code.

 

(u)       Disclosure
Schedules. The information set forth on the Schedules to this Agreement, to the best of Debtors’ knowledge, is true, correct,
and complete. In addition, to the best of Debtors’ knowledge, the Due Diligence Documents constitute all material documents related
to the Business and the Subject Assets that are in Debtors’ possession or control.

 

Section 8.2 Representations
and Warranties of Buyer. Buyer represents and warrants for the benefit and reliance of Debtors as follows, as of the date of this
Agreement and as of the Closing Date:

 

 

 

    	 	13	 

     

    

 

(a)            
Status, Power, and Authority. Buyer is duly organized, validly existing, and in good standing under the Laws of the state
of its formation with all requisite power and authority to enter into and carry out its obligations under this Agreement.

 

(b)            
Due Authorization, Execution, and Delivery. The execution, delivery, and performance of this Agreement by Buyer and the
persons executing the same on behalf of Buyer have been duly and validly authorized.

 

(c)            
Legal, Valid, Binding and Enforceable. This Agreement and the other agreements and instruments contemplated hereby constitute
legal, valid, and binding obligations of Buyer, enforceable in accordance with their respective terms.

 

(d)            
No Consents. Other than consents that may be necessary to assign to Buyer the Assigned Contracts, Intellectual Property
Rights and the Assumed Secured Obligations as contemplated herein, no material consent, license, permit, order, approval, or authorization
of any Governmental Authority or private party is required in connection with the execution, delivery, and performance of this Agreement
by Buyer.

 

(e)            
No Conflict/No Breach. The execution, delivery, or performance of this Agreement do not, with or without the giving of notice
and/or the passage of time (a) violate any provision of Law applicable to Buyer or which would prevent the consummation of the transactions
contemplated by this Agreement, or (b) conflict with or result in the breach or termination of, or constitute a default under or pursuant
to any indenture, mortgage, or deed of trust or any judgment, order, injunction, decree, or ruling of any court or Governmental Authority,
or any other agreement or instrument by which Buyer is bound, or to which it is subject, or which would prevent the consummation of the
transactions contemplated by the Agreement.

 

(f)             
Brokers and Finders. Buyer has not engaged or done business with any Person who may have a claim to, and has not incurred
any obligation or liability to any Person with respect to, any broker or agent fees or commissions, finder’s fees, or other compensation
or consideration as a result of or in connection with the transactions contemplated by this Agreement.

 

(g)            
Ability to Satisfy Purchase Price. At the time of entering into this Agreement, Buyer has provided Debtors with documentation
showing that Buyer has the ability to pay the Cash Bid.

 

Section 8.3 Survival of
Representations and Warranties and Certain Covenants. Each of the representations, warranties, and covenants in this Agreement or
any agreement or certificate to be executed or delivered in connection with the transactions contemplated by this Agreement, shall survive
the Closing or termination of this Agreement.

 

ARTICLE IX

COVENANTS 

 

Section 9.1 Access to Business and Records; Business Operations.

 

(a)            
During the period from the date hereof to the Closing Date, and subject to the Interim Management Agreement, Debtors shall continue
to operate and conduct the Business in the ordinary course in all material respects, consistent with past practices, maintain in effect
all necessary Permits and Licenses for the conduct of the Business, and use their commercially reasonable efforts to preserve their relationships
with their suppliers, customers, and others doing business with the Debtors.

 

(b)            
During the period from the date hereof to the Closing Date, Buyer and Buyer’s advisors and other representatives shall have
full access during normal operating hours to the Business, the Subject Assets, and all books, contracts, commitments, and records with
respect to the Business, shall be able to consult with any and all of Debtors’ employees, and other advisors and consultants regarding
the Business, and shall be furnished during such period with all such information concerning the Business and the Subject Assets as Buyer
may reasonably request.

 

(c)            
During the period from the date hereof to the Closing Date, Debtors shall promptly furnish to Buyer all information and data in
Debtors’ possession, under Debtors’ control, that belongs to Debtors, or to which Debtors have access, reasonably requested
by Buyer in order to assist Buyer to secure any Permits and Licenses and any approvals and other authorizations necessary to own and/or
operate the Business or as otherwise contemplated by this Agreement.

 

 

 

    	 	14	 

     

    

 

(d)            
Debtors shall not sell or otherwise dispose of any Subject Assets prior to the Closing Date to any Person other than Buyer except
within the ordinary course of business or under terms approved by Buyer and the Bankruptcy Court. Debtors shall not cause any material
damage or destruction of any of the Subject Assets.

 

(e)            
Until the Closing Date, Debtors shall comply in all material respects with all Laws applicable to the ownership of the Subject
Assets or the Business.

 

(f)             
For a period of six months from the Closing Date and upon reasonable advance written notice to Buyer, Debtors or Debtors’
assignee shall be permitted to review the books and records for the Business of the Debtors solely up through the Closing Date, to the
extent necessary for Debtors’ financial reporting purposes.

 

Section 9.2 Notice of Inaccuracy.

 

(a)            
Promptly upon either Party becoming aware of the occurrence of, or the impending or threatened occurrence of, any event which would
cause a breach of any of its own representations or warranties contained in Section 8.1 or Section 8.2, such Party shall promptly disclose
each such event, in reasonable detail, by means of a written notice thereof to the other Party, and the Party providing such written notice
shall use its reasonable commercial efforts to remedy the same.

 

(b)            
Each Party shall, promptly upon acquiring knowledge of the occurrence of any event that would cause the conditions to its obligations
set forth in Article X and Article XI, as applicable, to fail to be fulfilled at the Closing, notify the other Party of such event.

 

(c)            
Each Party shall promptly notify the other Party of any action, suit, or proceeding that shall be instituted or overtly threatened
in writing against such Party to restrain, prohibit, or otherwise challenge the legality of any transactions contemplated by this Agreement.

 

Section 9.3 Employees.

 

(a)            
Buyer’s obligations under this Agreement shall be conditioned upon the retention of those certain key employees (collectively,
the “Transferred Employees”) identified by Buyer in writing to Debtors on or before the expiration of the Due Diligence
Period (the “Transferred Employee Notice”). Buyer agrees upon Closing to hire the Transferred Employees on terms and
conditions that are, in the aggregate, no less favorable than those in effect as of the date of this Agreement.

 

(b)            
Other than the Transferred Employees, Buyer shall not be obligated to employ, or offer employment to, any officer, employee, or
independent contractor of Debtors. If Buyer elects to offer employment to any such Persons after the Closing, such offer shall be on
terms acceptable to Buyer in its sole and absolute discretion.

 

(c)            
Debtors shall be responsible for satisfying all requirements, including notice requirements, of the WARN Act.

 

(d)            
Buyer shall not be obligated to assume any obligations or liabilities of Debtors on the Closing Date with respect to any officers,
employees, or independent contractors of Debtors, all of which shall be Retained Liabilities of Debtors.

 

Section 9.4 Governmental
Authority Permits and Approvals. Each of the Parties shall as promptly as practicable prepare, submit, and file (or cause to be prepared,
submitted, and filed) all applications, notices, and requests for, and shall use all reasonable efforts to obtain as promptly as practicable,
all permits and approvals of all Governmental Authorities that may be or become necessary on each of their part(s), respectively, for
their execution and delivery of, and the performance of their obligations under, this Agreement, and the Parties will cooperate fully
with each other in promptly seeking to obtain all such permits and approvals. Buyer shall bear the costs and expenses incurred or fees
paid to Governmental Authorities to obtain such approvals and permits.

 

 

 

    	 	15	 

     

    

 

Section 9.5 Consummation
of Agreement. Each of the Parties shall use its commercially reasonable efforts to perform and fulfill all obligations and conditions
on its part to be performed and fulfilled under this Agreement so that the transactions contemplated by this Agreement shall be fully
carried out.

 

Section 9.6 Telephone Numbers.
On or before the Closing Date, Debtors shall arrange for the transfer of the telephone numbers associated with the Business to Buyer effective
as of the Closing Date.

 

Section 9.7 Continued DIP
Factoring. As a condition to Closing the sale and all of Buyer’s obligations under this Agreement, Debtors shall have obtained
the consent of the DIP Factor to the assumption of the Assumed Secured Obligations by Buyer, which consent shall include an agreement
by DIP Factor to continue the financing being provided under the DIP Factoring Agreement to Buyer for a period of one (1) year after the
Closing subject to the terms of the AIPA. The Parties hereby acknowledge that the DIP Factor’s consent will be contingent on satisfaction
of the following conditions prior to Closing (unless otherwise stated):

 

(a)            
evidence in form and substance acceptable to DIP Factor of Debtors’ retirement of any and all Approved Critical Vendor Claims
with corresponding liens against Critical Projects, as defined in the Approved Critical Vendor Claims, as of the Closing Date; and

 

(b)            
Debtors’ provision for continuity of DIP Factor’s collections of Factored Receivables, including but not limited to
(i) uninterrupted operation of the Post-Petition Factoring Lockbox, as defined in the DIP Factoring Order, both as subject to the DIP
Liens and according to the terms of the DIP Factoring Order; and (ii) preservation and transfer to Buyer of all books and records, with
ready means of access, regarding the Collateral, as defined in the DIP Factoring Agreement; and

 

(c)       Buyer’s
and DIP Factor’s execution and delivery of the AIPA and Buyer’s, Debtors’, and DIP Factor’s execution, delivery,
and performance of the conditions of the Factoring Assignment and Assumption Agreement.

 

ARTICLE X

CONDITIONS PRECEDENT TO THE OBLIGATIONS OF
BUYER

 

The obligations of Buyer to
consummate at the Closing the purchase of the Subject Assets, the assumption of the Assigned Contracts, the assumption of the Assumed
Liabilities, and the other transactions contemplated hereby are subject to Buyer’s approval of the Feasibility Matters pursuant
to Section 6.2, the Bankruptcy Court’s entry of the Final Order, and the fulfillment, prior to or at the Closing, of each of the
following express conditions precedent (the “Buyer’s Conditions Precedent”), any or all of which may be waived
by Buyer in writing only:

 

Section 10.1 Representations
and Warranties. Each of the representations and warranties of Debtors set forth in Section 8.1 of this Agreement shall be true and
correct in all material respects on the Closing Date as though made on the Closing Date.

 

Section 10.2 Covenants.
Debtors shall have performed and complied in all material respects with all of the covenants and agreements on Debtors’ part to
be performed and complied with as set forth in this Agreement. Without limiting the foregoing, all covenants, conditions, and contingencies
set forth in Article V and in Article IX shall be fulfilled to Buyer’s sole and absolute satisfaction.

 

Section 10.3 No Change
in Law. Since the date of this Agreement there shall have been no change in any applicable Law that makes it illegal for any Party
hereto to perform its obligations hereunder (i) enacted (and not effectively vetoed), whenever effective, (ii) adopted as a final regulation
pursuant to formal rule making, order-issuing, or regulatory authority by any Governmental Authority, agency, board, commission, or other
administrative, executive, or other regulatory body having jurisdiction over the Subject Assets, or (iii) embodied in a final, formal
ruling, order, or decision of any judicial body having jurisdiction over the Business and Subject Assets.

 

Section 10.4 Required Consents.
The Parties shall have received all of the consents, estoppels, and approvals necessary for Buyer’s operation of the Business (the
“Required Consents”), and such Required Consents shall remain in effect on the Closing Date except as to those which
would not have a material adverse effect on the Business.

 

 

 

    	 	16	 

     

    

 

Section 10.5 Debtors’
Closing Deliverables. At the Closing, and concurrently with the delivery of the Buyer’s Closing Deliverables, Debtors shall
have executed and delivered, or caused to have been delivered, to Buyer, Debtors’ Closing Deliverables, each of which shall be
in full force and effect and shall be in form and substance reasonably satisfactory to Buyer.

 

Section 10.6 Transferred
Employees. The Transferred Employees’ acceptance(s) of Buyer’s offers of employment in accordance with Section 9.3(a).

 

ARTICLE XI

CONDITIONS PRECEDENT TO THE OBLIGATIONS OF
DEBTORS

 

The obligations of Debtors
to consummate at Closing the sale of the Subject Assets, the assignment of the Assigned Contracts, the assignment of the Assumed Liabilities,
and other transactions contemplated hereby are subject to entry of the Final Order and the fulfillment, prior to or at the Closing, of
each of the following express conditions precedent (the “Debtors’ Conditions Precedent”), any or all of which
may be waived by Debtors in writing only:

 

Section 11.1 Representations
and Warranties. Each of the representations and warranties of Buyer set forth in Section 8.2 of this Agreement shall be true and correct
in all material respects on the Closing Date as though made on the Closing Date.

 

Section 11.2 Covenants.
Buyer shall have performed and complied in all material respects with all of the covenants and agreements on Buyer’s part to be
performed and complied with as set forth in this Agreement.

 

Section 11.3 No Change
in Law. Since the date of this Agreement there shall have been no change in any applicable Law that makes it illegal for any Party
hereto to perform its obligations hereunder (i) enacted (and not effectively vetoed), whenever effective, (ii) adopted as a final regulation
pursuant to formal rule making, order-issuing, or regulatory authority by any Governmental Authority, agency, board, commission, or other
administrative, executive, or other regulatory body having jurisdiction over the Subject Assets, or (iii) embodied in a final, formal
ruling, order, or decision of any judicial body having jurisdiction over the Business and Subject Assets.

 

Section 11.4 Buyer’s
Closing Deliverables. At the Closing, and concurrently with the delivery by the Debtors of the Debtors’ Closing Deliverables,
Buyer shall have executed and delivered, or caused to have been executed and delivered, to Debtors, the Buyer’s Closing Deliverables,
each of which shall be in full force and effect and shall be in form and substance reasonably satisfactory to Debtors.

 

ARTICLE XII

TERMINATION

 

Section 12.1 Termination.
This Agreement may be terminated prior to Closing by mutual agreement of Debtors and Buyer. Upon such termination, this Agreement shall
terminate, and neither Buyer nor Debtors shall have any further obligation or liability to the other hereunder,except for those that
expressly survive termination pursuant to express terms of this Agreement or the terms of the Interim Management Agreement.

 

Section 12.2 Termination
by Debtors. Debtors may terminate this Agreement by giving written notice, in accord with Section 14.1, to Buyer, at any time prior
to the Closing if:

 

(a)          
Buyer has breached any representation, warranty, or covenant contained in this Agreement in any material respect, Debtors have
notified Buyer of the breach, and the breach has continued without cure for a period of ten (10) days after the notice of breach was received
by Buyer; or

 

(b)          
all of Debtors’ Conditions Precedent have not been satisfied or waived by Debtors on or before the Closing Date, unless the
failure of any such condition(s) was caused by any act or failure to act of Debtors or any director, officer, employee, or agent of Debtors
or by Debtors’ default under or breach of this Agreement.

 

 

 

    	 	17	 

     

    

 

Section 12.3 Termination
by Buyer. Buyer may terminate this Agreement by giving written notice, in accord with Section 14.1, to Debtors, at any time prior
to the Closing if:

 

(a)          
Debtors have breached any representation, warranty, or covenant contained in this Agreement in any material respect, Buyer has
notified Debtors of the breach, and the breach has continued without cure for a period of ten (10) days after the notice of breach was
received by Debtors; or

 

(b)          
if all of Buyer’s Conditions Precedent have not been satisfied or waived by Buyer on or before the Closing Date, unless the
failure of any such condition(s) was caused by any act or failure to act of Buyer or any director, officer, employee, or agent of Buyer
or by Buyer’s default under or breach of this Agreement; or

 

(c)          
in the event there shall have occurred any casualty, damage, or other adverse change to the Subject Assets which could reasonably
be expected to have an out-of-pocket replacement cost not covered by insurance in excess of $50,000.00.

 

Section 12.4 Termination Upon Default.

 

(a)          
. If all of Debtors’ conditions to close the transaction contained in Section 7.2 hereof have been fulfilled or waived, and
the Closing and consummation of the transaction fails to occur in a timely manner solely because of any of the Debtors’ default
or breach, Buyer shall be entitled to terminate this Agreement. Buyer's sole and exclusive remedy shall be to receive a full refund of
the Earnest Money Deposit from Debtors. Notwithstanding the foregoing, Buyer shall have available to it all other rights and remedies
at law or in equity, including without limitation, the right of specific performance.

 

(b)          
If all of Buyer’s conditions to close the transaction contained in Section 7.3 hereof have been fulfilled or waived, and
the Closing and consummation of the transaction fails to occur in a timely manner solely because of any of the Buyer’s default
or breach, Debtors and Buyer agree that it would be impractical and extremely difficult to estimate the damages that Debtors may suffer.
Therefore, Buyer and Debtors agree that a reasonable estimate of the total net detriment that Debtors would suffer in the event of Buyer’s
default and failure to complete the purchase of the Property is and shall be, as Debtors’ exclusive remedy (whether at law or in
equity), an amount equal to the Earnest Money Deposit. Said amount shall be the full, agreed, and liquidated damages for the breach of
this Agreement by Buyer. Upon default by Buyer, this Agreement shall be terminated, and neither Party shall have any further rights or
obligations hereunder, except for the right of Debtors to retain the Earnest Money Deposit as such liquidated damages from Buyer; and
in such event, Debtors expressly waive all other claims to damages or other remedies.

 

Section 12.5 Effect of
Termination. If any Party terminates this Agreement pursuant to Article XII, this Agreement and all rights and obligations of the
Parties under this Agreement automatically end without liability against the other Party, subject to Article XIII (Limitation of Liability)
Article XIV (Miscellaneous Provisions), the Interim Management Agreement, and this Section 12.5, which shall remain in full force and
effect and survive any termination of this Agreement.

 

ARTICLE XIII

LIMITATION OF LIABILITY

 

Section 13.1 Limitation
of Liability. IN NO EVENT WILL EITHER PARTY OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, CONTRACTORS, SUBCONTRACTORS, VENDORS,
OR EMPLOYEES HAVE ANY LIABILITY TO THE OTHER PARTY FOR LOSSES WHICH ARE INCIDENTAL, SPECIAL, CONSEQUENTIAL, INDIRECT, OR PUNITIVE. NEITHER
PARTY SHALL BE LIABLE TO THE OTHER PARTY TO THE EXTENT THAT SUCH OTHER PARTY HAS RECEIVED PAYMENT FOR SUCH A CLAIM FROM ANOTHER SOURCE,
AND ANY PAYMENT OBLIGATION PAYABLE BY A PARTY SHALL BE NET OF ANY TAX BENEFITS OBTAINED BY OR INSURANCE PROCEEDS AVAILABLE TO THE OTHER
PARTY.

 

 

 

    	 	18	 

     

    

 

ARTICLE XIV

MISCELLANEOUS PROVISIONS

 

Section 14.1 Notices.
Any notice required or permitted to be given under this Agreement shall be in writing and shall be deemed to be an adequate and sufficient
notice if given in writing and service is made either by (i) personal delivery, in which case the service shall be deemed received the
date of such personal delivery, (ii) nationally recognized overnight air courier service, next day delivery, prepaid, in which case the
notice shall be deemed to have been received one (1) Business Day following delivery to such nationally recognized overnight air courier
service, or (iii) at the time of being sent by email, provided the email was sent prior to 5:00 p.m. prevailing Pacific Time (and otherwise
shall be deemed to have been delivered on the next Business Day), and to the following street or email addresses (or such other address
as either Party may from time to time specify in writing to the other).

 

(a)       Any notice or
demand to Debtors shall be addressed to Debtors at:

 

	 	Petersen-Dean Inc., et. al.
	 	4309 Hacienda Drive, Suite 350
	 	Pleasanton, CA 94588
	 	Attn: George Milionis, Esq.
	 	E-mail: gmilionis@petersendean.com
	With a copy to:	Fox Rothschild LLP
	1980 Festival Plaza Drive, Suite 700	 
	 	Las Vegas, NV 89135
	 	Attn: Brett Axelrod, Esq.
	 	E-mail: BAxelrod@foxrothschild.com
	With a further copy 	 
	to Committee counsel:	Brown Rudnick LLP
	 	2211 Michelson Drive
	 	Seventh Floor
	 	Irvine, CA 92612
	 	Attn: Cathrine M. Castaldi, Esq.
	E-mail: ccastaldi@brownrudnick.com	 

 

(b)       Any notice or
demand to Buyer shall be addressed to Buyer at:

 

	 	 SolarJuice American, Inc.

4677 Old Ironside Drive, Suite 190

Santa Clara, CA 95054

Attn: Denton Pengelephone: 916-622-5531

Email: denton.peng@spigroups.com

	 	 
	With Copy to:	Holley Driggs
	 	400 South Fourth Street, Third Floor
	 	 
	 	Las Vegas, Nevada 89101
	 	Attn: Richard F. Holley
	 	Marilyn Fine
	 	Telephone:     (702) 791-0308
	 	Facsimile:     (702) 791-1912

 

 

 

    	 	19	 

     

    

 

 

	With a further copy 	 
	to Committee counsel:	Brown Rudnick LLP
	 	2211 Michelson Drive
	 	Seventh Floor
	 	Irvine, CA 92612
	 	Attn: Cathrine M. Castaldi, Esq.
	 	E-mail: ccastaldi@brownrudnick.com

 

Section 14.2 Governing
Law; Jurisdiction. The internal laws of the State of Nevada applicable to contracts made and wholly performed therein shall govern
the validity, construction,performance, and effect of this Agreement without reference to conflict of law principles. Each of the Parties
hereby irrevocably and unconditionally agrees that any legal action, suit, dispute, or proceeding arising under, out of, or in connection
with this Agreement shall be brought in the Bankruptcy Court (for so long as the Bankruptcy Court has jurisdiction) and otherwise in
the Federal or State courts of competent jurisdiction located in the County of Clark in the State of Nevada, and each of the Parties
hereto irrevocably accepts and submits itself to the exclusive jurisdiction of such courts, generally and unconditionally, and waives
any objections as to venue or inconvenient forum. Notwithstanding the foregoing consent to jurisdiction, following the commencement of
the Bankruptcy Case and so long as the Bankruptcy Court has jurisdiction, each of the Parties agrees that the Bankruptcy Court shall
have exclusive jurisdiction with respect to any matter hereunder or arising under or arising out of or in connection with this Agreement,
and hereby submits to the jurisdiction of the Bankruptcy Court.

 

Section 14.3 Counterparts.
This Agreement may be executed via hand-signatures or electronic signatures in one or more counterparts, all of which shall be considered
one and the same Agreement. This Agreement may be delivered via hand-delivery, facsimile, or electronic mail.

 

Section 14.4 Integrated
Agreement. This Agreement and the other agreements described herein supersede all prior and contemporaneous agreements, oral and written,
between the Parties hereto with respect to the subject matter hereof.

 

Section 14.5 No Oral Modification.
Neither this Agreement, nor any provision hereof, may be changed, waived, discharged, supplemented, or terminated orally, but only by
an agreement in writing and signed by the Party against which the enforcement of such change, waiver, discharge, or termination is sought.

 

Section 14.6 Successors
and Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon the Parties hereto and their
respective successors and assigns. Except as specifically provided in this Section 14.6, this Agreement is not intended to, and shall
not, create any rights in any Person whomsoever except Buyer, Debtors and the DIP Factor, which is a third-party beneficiary of this Agreement.

 

Section 14.7 Assignment.
Neither Party shall assign its rights or delegate its duties under this Agreement without the prior written consent of the other Party
hereto, except that Buyer may assign its rights and obligations under this Agreement to an affiliate of Buyer, without Debtors consent
and without further approval of the Bankruptcy Court.

 

Section 14.8 Partial Invalidity.
If any provision of this Agreement, or any application thereof, should be held by a court of competent jurisdiction to be invalid, void,
or unenforceable, all other provisions of this Agreement, and all applications thereof, not held invalid, void, or unenforceable shall
continue in full force and effect and shall in no way be affected, impaired, or invalidated thereby, provided that the severance from
this Agreement of such provision does not materially impair the ability of the Parties to consummate the transactions contemplated hereby.
In lieu of such invalid, void, or unenforceable provision, there shall be added to this Agreement a term, provision, covenant, or condition
that is valid, not void, and enforceable and is as similar to such invalid, void, or unenforceable provision as may be possible.

 

Section 14.9 No Presumption
Against the Draftsman. Each Party having been represented in the negotiation of this Agreement, and having had ample opportunity to
review the language hereof, there shall be no presumption against any Party on the ground that such Party was responsible for preparing
this Agreement.

 

Section 14.10 Expenses.
All expenses incurred by the Parties hereto in connection with or related to the authorization, preparation, and execution of this Agreement
and the Closing of the transactions contemplated hereby, including fees and expenses of agents, representatives, counsel, and accountants
employed by any such Party, shall be borne solely and entirely by the Party which has incurred the same.

 

 

 

    	 	20	 

     

    

 

Section 14.11 Jury Trial
Waiver. DEBTORS AND BUYER HEREBY WAIVE THEIR RIGHTS TO TRIAL BY JURY OF ANY DISPUTE ARISING UNDER, ARISING OUT OF, OR RELATING TO
THIS AGREEMENT ALLEGED AGAINST EACH OTHER; AND DEBTORS AND BUYER HEREBY WAIVE ANY RIGHTS TO PROCEED BY WAY OF A CLASS ACTION, TO SERVE
IN ANY REPRESENTATIVE CAPACITY FOR OTHERS, AND TO ACT AS A PRIVATE ATTORNEY GENERAL IN ANY CLAIM OR CONTROVERSY ARISING UNDER, ARISING
OUT OF, OR RELATING TO THIS AGREEMENT OR THE BREACH, TERMINATION, ENFORCEMENT, INTERPRETATION, OR VALIDITY THEREOF.

 

Section 14.12 Attorney’s
Fees & Cost. In the event of litigation (including any appeal), the non-prevailing Party shall pay the prevailing Party’s
attorney’s fees and cost.

 

[THIS SPACE LEFT BLANK INTENTIONALLY.

SIGNATURE PAGES FOLLOW.]

 

 

 

 

    	 	21	 

     

    

 

 

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date set forth
below their respective signatures below.

 

 

IN WITNESS WHEREOF, the Parties have executed
this Agreement as of the date set forth below their respective signatures below.

 

	 	DEBTORS:
	 	 
	 	PETERSEN-DEAN, INC.
	 	BEACHHEAD ROOFING & SUPPLY, INC.
	 	CALIFORNIA EQUIPMENT LEASING
	 	ASSOCIATION, INC.
	 	SOLAR 4 AMERICA, INC.
	 	FENCES 4 AMERICA, INC.
	 	JAMES PETERSEN INDUSTRIES, INC.
	 	PD SOLAR, INC.
	 	SONOMA ROOFING SERVICES, INC.
	 	PETERSEN ROOFING AND SOLAR, LLC
	 	PETERSENDEAN TEXAS, INC.
	 	RED ROSE, INC.
	 	ROOFS 4 AMERICA, INC.
	 	TRI-VALLEY SUPPLY, INC.
	 	PETERSENDEAN ROOFING AN OLAR SYSTEMS, INC.
	 	TD VEN VENTURE FUND,LLC
	 	 
	 	By: /s/ Mark Vogel
	 	Name: COO
	 	Printed Name: Mark Vogel
	 	 
	 	Date:
	 	 
	 	BUYER:
	 	 
	 	SOLARJUICE AMERICAN, INC.
	 	 
	 	By: XIAOFENG PENG
	 	Its: COO
	 	Print Name: XIAOFENG PENG
	 	 
	 	Date: 02/24/2021

 

 

 

    	 	22	 

     

    

 

APPENDIX A

TO

ASSET PURCHASE AND SALE AGREEMENT

GLOSSARY OF DEFINED TERMS

 

“363 Motion” has the meaning ascribed
to such term in Section 5.1(b).

 

“ACF” means ACF Finco I, LP.

 

“Actions” has the meaning ascribed to
such term in Section 8.1(j).

 

“Adjusted Cash Bid” means $6,850,000.00.

 

“Agreement”
means this Asset Purchase and Sale Agreement, together with all Schedules, Exhibits, Appendices, and other attachments hereto, and all
amendments and supplements hereto and thereto.

 

“Approved Critical
Vendor Claims” refers to the term as defined in the Final Order Authorizing Payment of Critical Vendor Claims [ECF No. 917]
in the Bankruptcy Case.

 

“AIPA”
has the meaning ascribed to such term in Section 3.1(a), the form of which is attached hereto as Exhibit “A” to be
executed by DIP Factor and Buyer and delivered at the Closing on the Closing Date.

 

“Assigned Contract(s)” has the meaning
ascribed to such term in Section 2.1(c).

 

“Assignment and
Assumption Agreement(s)” means that certain Assignment and Assumption Agreement(s), the form of which is attached hereto as
Exhibit “D” to be executed by Debtors and Buyer and delivered at the Closing on the Closing Date providing for, among
other matters, the assignment by Debtors, and the assumption by Buyer, of the Assigned Contracts.

 

“Assumed Liabilities” has the meaning
ascribed to such term in Section 3.1. “Assumption Effective Date” has the meaning ascribed to such term in Section
5.2.

 

“Assumed Secured
Obligations” ” means the Secured Obligations, excluding the Non-Assumed Secured Obligations.

 

“Auction Date” has the meaning ascribed
to said term in the Recitals.

 

“Bankruptcy Case,”
“Bankruptcy Code,” and “Bankruptcy Court” have the meanings ascribed to said terms in the Recitals.

 

“Bill(s) of Sale”
means those certain Bill(s) of Sale, the form of which is attached hereto as Exhibit “E”, to be executed by Debtors
and delivered at the Closing providing for the sale, assignment, transfer and conveyance of the Subject Assets from Debtors to Buyer.

 

“Books and Records” has the meaning ascribed
to such term in Section 2.1(f).

 

 

 

    	 	A-1	 

     

    

 

“Business” has the meaning ascribed to
such term in the Recitals hereto.

 

“Business Day”
means any day other than a Saturday, Sunday, or other day upon which banks in the State of Nevada are authorized or required to be closed.

 

“Buyer”
means SOLARJUICE AMERICAN, INC., a wholly-owned subsidiary of SPI ENERGY CO., LTD. or its assignee.

 

“Buyer’s Closing
Deliverables” has the meaning ascribed to such term in Section 7.3. “Buyer’s Conditions Precedent”
has the meaning ascribed to such term in Article X. “Cash Bid” means $7,850,000.00.

 

“Chapter 5 Actions
and Claims” means all avoidance actions and claims, preference actions and claims, fraudulent conveyance actions and claims,
and all others claims and causes of action that constitute property of Debtors’ bankruptcy estates under Section 541 of the Bankruptcy
Code, including claims and causes of action under Chapter 5 of the Bankruptcy Code and/or any other applicable federal or state law, and
all proceeds and rights to proceeds therefrom.

 

“Closing”
means the proceedings pursuant to which the sale of the Subject Assets is consummated as described in Article VII.

 

“Closing Date” has the meaning ascribed
to such term in Section 7.1.

 

“Commercial Business” has the meaning
ascribed to such term in the Recitals hereto.

 

“Computer Software” has the meaning ascribed
to such term in Section 2.1(h).

 

“Construction Contract(s)”
means commercial solar roofing and battery Assigned Contracts described on Schedule 5.2(a).

 

“Consumer Business” has the meaning ascribed
to such term in the Recitals hereto.

 

“Consumer Business
Sale Order” has the meaning ascribed to such term in the Recitals hereto.

 

“Contract(s)”
means any binding contract, agreement, arrangement, guaranty, letter of credit, bond, indemnity obligations, commitment, franchise, indenture,
instrument, lease, or license.

 

“Contract & Cure
Schedule” has the meaning ascribed to such term in Section 5.2, which shall be formatted, organized and completed in accordance
with Section 6.3.

 

“Contract Spreadsheets” has the meaning
ascribed to such term in Section 6.3.

 

“Cure Amount”
means, for any Executory Contract, the amount required to be paid by Buyer to effectuate the assumption and assignment of such Executory
Contract by Debtors to 

Buyer under Section 365 of the Bankruptcy Code,
or as otherwise determined (i) between Buyer and non-debtor counterparty to such Executory Contract or (ii) by order of the Bankruptcy
Court.

 

 

 

    	 	A-2	 

     

    

 

“Debtors”
mean, collectively, Petersen-Dean, Inc., Beachhead Roofing & Supply, Inc., California Equipment Leasing Association, Inc., Solar 4
America, Inc., Fences 4 America, Inc., James Petersen Industries, Inc., PD Solar, Inc., Sonoma Roofing Services, Inc., Petersen Roofing
and Solar, LLC, Petersen Dean Texas, Inc., Red Rose, Inc., Roofs 4 America, Inc., Tri-Valley Supply, Inc., PetersenDean Roofing and Solar
Systems, Inc., TD Venture Fund, LLC.

 

“Debtors’ Closing
Deliverables” has the meaning ascribed to such term in Section 7.2. “Debtors’ Conditions Precedent”
has the meaning ascribed to such term in Article XI. “Deposit Accounts” has the meaning ascribed to such term in Section
2.1(j).

 

“DIP Factor” has the meaning ascribed
to such term in the Recitals.

 

“DIP Factoring Agreement”
means that certain Invoice Purchase Agreement dated July 27, 2020, entered by and between Debtors and DIP Factor as supplemented and modified
by the DIP Addendum to Invoice Purchase Agreement dated as of July 27, 2020 and Construction Addendum to Invoice Purchase Agreement dated
as of July 27, 2020.

 

“DIP Factoring Order”
refers to that certain Final Order (I) Authorizing Certain Debtors to (A) Obtain Post-Petition DIP Factoring Pursuant to 11 U.S.C. §
363 and 364; (2) Grant Priming Liens and Superpriority Claims Pursuant to 11 U.S.C. § 364, and (C) Sell Accounts Free and Clear;
(II)) Modifying the Automatic Stay; (III) Approving Notice; and (V) Granting Related Relief [ECF No. 914] in the Bankruptcy Case.

 

“DIP Liens”
means the first priority security interests granted by Debtors to DIP Factor under the Factoring Agreement and DIP Factoring Order against
all of Debtors’ assets, including the Subject Assets.

 

“DIP Cap” means $11,000,000.00.

 

“Due Diligence Documents” has the
meaning ascribed to such term in Section 6.1.

 

“Due Diligence Period”
means the period commencing upon execution and delivery of this Agreement by all the Parties hereto and expiring at 5:00 p.m. prevailing
Pacific Time three (3) days prior to the Bankruptcy Court hearing on the 363 Motion.

 

“Earnest Money Deposit”
means Buyer’s good faith deposit of $785,000.00 paid to Debtors on December 23, 2020.

 

“Equipment” has the meaning ascribed
to such term in Section 2.1(a). “Excluded Assets” has the meaning ascribed to such term in Section 2.2.

 

“Executory Contract”
means a Contract that is an “executory contract” or “unexpired lease,” as such terms are used in Section 365 of
the Bankruptcy Code.

 

“Factoring Assignment
and Assumption Agreement” means that certain Assignment and Assumption Agreement, the form of which is attached hereto as Exhibit
“C” to be executed by DIP Factor and Buyer and delivered at the Closing on the Closing Date providing for, among other
matters, the assignment by Debtors, and the assumption by Buyer, of the Secured Obligations subject to the AIPA.

 

“Feasibility Matters” has the meaning
ascribed to such term in Section 6.2. “Final Order” has the meaning ascribed to such term in Section 5.1(c).

 

“GAAP”
means generally accepted accounting principles in the United States of America, which shall include official interpretations thereof by
the Financial Accounting Standards Board and its successors, consistently applied.

 

“Governmental Authority”
means the federal government of the United States, the government of any state of the United States or any political subdivision thereof,
and any Person exercising executive, legislative, judicial, regulatory, or administrative functions of or pertaining to government and
any other governmental entity, instrumentality, agency, authority, or commission.

 

 

 

    	 	A-3	 

     

    

 

“Intellectual Property Rights” has the
meaning ascribed to such term in Section 2.1(e).

 

“Intellectual Property
Assignment Agreement” means that certain Intellectual Property Assignment Agreement, the form of which is attached hereto as
Exhibit “F”, to be executed by Debtors in favor of Buyer and delivered at the Closing on the Closing Date.

 

“Interim Management
Agreement” means the Interim Management Agreement dated January 20, 2021, entered into by the Debtors and Buyer (as Manager).

 

“Law(s)”
means any law, statute, act, decree, ordinance, rule, writ, injunction, directive (to the extent having the force of law), order (unilateral
or consensual), final non-appealable judgment directly applicable to the relevant Party, treaty, code, or regulation (including any of
the foregoing relating to health or safety matters), or any interpretation of any of the foregoing, as enacted, issued, or promulgated
by any Governmental Authority, including all amendments, modifications, extensions, replacements, or reenactments thereof or thereto.

 

“LEAF Collateral”
means Licenses for enterprise software from Microsoft described by Microsoft Part Numbers (a) 7R7-00002, Quantity of 60, (b) AAA-10758,
Quantity of 454, (c) T6A-00024, Quantity of 90 and (d) AAA-10842, Quantity of 360, including all parts, accessories, accessions, and attachments
thereto, and all replacements, substitutions and exchanges (including trade-ins) (collectively the “LEAF Collateral”) that
are subject to the liens of LEAF Capital Funding, LLC.

 

“Loss(es)”
means any and all assessments, judgments, damages (including natural resource damage), penalties, interest, fines, investigations,
liabilities (including strict liability), reasonable costs and expenses of investigation and of defense of any claim.

 

“Non-Assumed Secured
Obligations” means: (1) the Roll-Up Amount; and (2) those advances, fees, and other charges under the Factoring Agreement and
DIP Factoring Order outstanding as of the Closing in excess of the DIP Cap.

 

“Notice of Approval” has the meaning
ascribed to such term in Section 6.2. “Notice of Termination” has the meaning ascribed to such term in Section 6.2.

 

“Pahrump Property”
means the real property located at 1061 Indio Ct, Pahrump, Nevada 89048, which is identified by the Nye County Assessor as APN 39-491-03.

 

“Party(ies)” has the meaning ascribed
to such term in the preamble hereto.

 

“Permits and Licenses” has the meaning
ascribed to such term in Section 2.1(g).

 

“Person”
means any individual natural person or any artificial person including any corporation, general or limited partnership, joint venture,
association, unincorporated organization, trust, limited liability company or partnership, Governmental Authority, or other entity.

 

“Personal Property” has the meaning
ascribed to such term in Section 2.1(b). “Petition Date” has the meaning ascribed to such term in the Recitals hereto.
“Purchase Price” has the meaning ascribed to such term in Section 4.1. “Required Consents” has the
meaning ascribed to such term in Section 10.4. “Retained Liabilities” has the meaning ascribed to such term in Section
3.2.

 

“Roll-Up Amount”
means a portion of the pre-petition factoring obligations due to DIP Factor in the amount of $2,000,000.00 as of July 27, 2020.

 

“Sale Order” has the meaning ascribed
to such term in Section 5.1(b).

 

“Secured Obligations”
means obligations of the Debtors owed to DIP Factor under the Factoring Agreement and DIP Factoring Order, consisting of the Roll-Up Amount
together with post-petition factoring obligations due to DIP Factor under the DIP Factoring Agreement, all of which are secured by the
DIP Liens. .

 

 

 

    	 	A-4	 

     

    

 

“Subject Assets”
has the meaning ascribed to such term in the Recitals hereto as more particularly described in Article II.

 

“Supplies” has the meaning ascribed to
such term in Section 2.1(b).

 

“Tax(es)”
means any tax, charge, impost, tariff, duty, or fee of any kind charged, imposed, or levied, directly or indirectly, by any Governmental
Authority including any value-added tax, sales tax, stamp duty, import duty, withholding tax (whether on income, dividends, interest payments,
fees, equipment rentals, or otherwise), tax on foreign currency loans or foreign exchange transactions, excise tax, franchise tax, transfer
tax, property tax, unemployment tax, or social security tax including any interest, penalties, or other additions thereon.

 

“Transferred Employees” has the meaning
ascribed to such term in Section 9.3(a). “Transferred Employee Notice” has the meaning ascribed to such term in Section
9.3(a).

 

“Transition Period”
means 120-days following the Closing Date or when Buyer obtains valid contractor’s licenses for the Construction Contracts, whichever
occurs first.

 

“WARN Act”
means the Worker Adjustment and Retraining Notification Act, 29 U.S.C. § 2101, et. seq. and as the same may be amended from time
to time, or any successor law, and the rules and regulations promulgated thereunder.

 

“Warranties” has the meaning ascribed
to such term in Section 2.1(g).

 

 

 

    	 	A-5	 

     

    

 

APPENDIX B

TO

ASSET PURCHASE AND SALE AGREEMENT

 

EXHIBIT LIST

 

	Exhibit	Description
	A	Form Amended and Restated Invoice Purchase Agreement
	B	Form Sale Order
	C	Form Factoring Assignment and Assumption Agreement
	D	Form Assignment and Assumption Agreement
	E	Form Bill of Sale
	F	Intellectual Property Assignment Agreement

 

 

SCHEDULE LIST

 

	Schedule	Description
	2.1 (a)	 	Equipment
	 	2.1(a)(i)	Vehicles
	 	2.1(a)(ii)	Construction Equipment
	 	2.1(a)(iii)	Office Equipment
	2.1(b)	 	Supplies
	2.1(d)	 	Accounts Receivable
	2.1(e)	 	Intellectual Property Rights
	2.1(i)	 	Insurance Policies (Excluding Workers Comp and D&O)
	2.1(j)	 	Letters of Credit, to be expressly assumed by Debtors and assigned to Buyer
	3.1(a)	 	Assumed Secured Obligations- statement of unpaid balance with detailed break-down of principal, accrued unpaid interest, and fees and cost
	5.2	 	Contract & Cure Schedule
	 	5.2(a)	Commercial Solar Roofing & Battery Contracts
	 	5.2(b)	Unexpired Real Property Leases
	 	5.2(c)	Unexpired Personal Property Leases
	 	5.2(d)	Other Executory Contracts
	8.1(j)	 	Litigation
	8.1(k)	 	Assigned Contract Defaults
	8.1(r)	 	Suppliers & Vendors

 

 

 

 

    	 	B-1

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