Document:

EX-4.1

 Exhibit 4.1 

Certificate Evidencing 6.550% Series B Preferred Units 

(Liquidation Preference as specified below) 
  

			
	No. SB-[                ]	  	[                ] Units

 In accordance with the Fourth Amended and Restated Operating Agreement (as amended, supplemented or restated from time to
time, the “Operating Agreement”) of Oaktree Capital Group, LLC, a Delaware limited liability company (the “Company”), the Company hereby certifies that
[                ] (the “Holder”) is the registered owner of
[                ] units of the Company’s 6.550% Series B Preferred Units, with a Series B Liquidation Preference of $25.00 per unit (the “Series B
Preferred Units”). The Series B Preferred Units are transferable on the books of the Transfer Agent, in person or by duly authorized attorney, upon surrender of this Certificate properly endorsed. The Series B Preferred Units are fully paid
and the Holder of such Series B Preferred Units will have no obligation to make payments or contributions to the Company solely by reason of its ownership of such Series B Preferred Units. The designations, rights, privileges, preferences and
limitations of the Series B Preferred Units are set forth in, and this Certificate and the Series B Preferred Units represented hereby are issued and shall in all respects be subject to the terms and provisions of, the Operating Agreement. The
Operating Agreement is on file at, and a copy will be furnished without charge on delivery of written request to the Company at, the principal office of the Company located at 333 South Grand Avenue, 28th Floor, Los Angeles, California 90071, or
such other address as may be specified by notice under the Operating Agreement. Capitalized terms used herein but not defined shall have the meanings given them in the Operating Agreement. 

The holder of this Certificate, by acceptance of this Certificate, shall be deemed to have (i) requested admission as, and agreed to become, a Member of
the Company; (ii) agreed to comply with, and be bound by, the terms of the Operating Agreement; (iii) granted the powers of attorney provided for in the Operating Agreement; and (iv) made the waivers and given the consents and
approvals contained in the Operating Agreement. Any attempted transfer of this Certificate or the Series B Preferred Units it represents in violation of the Operating Agreement shall be null and void. 

This Certificate shall be governed by, and construed in accordance with, the laws of the State of Delaware, without regard to principles of conflict of laws
thereof. 
 In the case of any conflict between this Certificate and the Operating Agreement, the provisions of the Operating Agreement shall control and
govern. 
 This Certificate shall not be valid for any purpose unless it has been countersigned and registered by the Transfer Agent and Registrar. 

 [SPECIMEN] 

Dated: 
  

													
	OAKTREE CAPITAL GROUP, LLC	  	OAKTREE CAPITAL GROUP, LLC
					
	By:	 	  
	 		  	By:	 	  

		 	Name:	  		 		  		 	Name:	  	
		 	Title:	  		 		  		 	Title:	  	

 Countersigned and Registered by: 
  

                          
                                         
          
 as Transfer Agent and Registrar 

 REVERSE OF CERTIFICATE FOR SERIES B PREFERRED UNITS 

Non-cumulative distributions on each Series B Preferred Unit shall be payable at the applicable rate provided in the
Operating Agreement. 
 The Company shall furnish without charge to each Series B Holder who so requests a summary of the authority of the Company to
determine variations for future series within a class of Units and the designations, limitations, preferences and relative, participating, optional or other special rights of each class or series of capital issued by the Company and the
qualifications, limitations or restrictions of such preferences and/or rights. 

 The following abbreviations, when used in the inscription on the face of this certificate, shall be
construed as though they were written out in full according to applicable laws or regulations: 
  

									
	 TEN COM
	 	 –
	  	 as tenants in common
	  	 UNIF GIFT MIN ACT -
	  	                 Custodian                 
	 TEN ENT
	 	 –
	  	 as tenants by the entireties
	  		  	     (Cust)
                      (Minor)

	 JT TEN
	 	 –
	  	 as joint tenants with right of

survivorship and not as tenants in common
	  		  	 under Uniform Transfers/Gifts

to Minors Act
                

                   
       (State)

 Additional abbreviations may also be used though not in the above list. 

FOR VALUE RECEIVED,                  hereby sell, assign and transfer unto

 Please insert Social Security or other 
 identifying
number of Assignee 
  
  

(Please print or typewrite name and address, including zip code, of Assignee) 

Series B Preferred Units represented by the Certificate, and do hereby irrevocably constitute and appoint
                 Attorney to transfer the said Series B Preferred Units on the books of the Transfer Agent with full power of substitution in the premises. 

Dated                 . 

 

			
		  	NOTE: The signature to any endorsement hereon must correspond with the name as written upon the face of this Certificate in every particular, without alteration, enlargement or change.
		
	SIGNATURE(S) MUST BE GUARANTEED BY A	  	  

	MEMBER FIRM OF THE NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. OR BY A COMMERCIAL BANK OR TRUST COMPANY	  	 (Signature)

		
	SIGNATURE(S) GUARANTEED	  	  

		  	 (Signature)

 No transfer of the Series B Preferred Units evidenced hereby will be registered on the books of the Transfer Agent unless the
Certificate evidencing the Series B Preferred Units to be transferred is surrendered for registration of transfer.Exhibit 10.1

 

Execution Copy

 

5% ORIGINAL ISSUE DISCOUNT PROMISORRY NOTE

 

THE ISSUANCE AND SALE OF THE SECURITIES
REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES
LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION
STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL TO THE HOLDER (IF REQUESTED
BY THE COMPANY), IN A FORM REASONABLY ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS
SOLD OR ELIGIBLE TO BE SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY
BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES. ANY
TRANSFEREE OF THIS NOTE SHOULD CAREFULLY REVIEW THE TERMS OF THIS NOTE.

 

TimefireVR
Inc. 

 

	Issuance Date: August 7, 2018	Original Principal Amount: $80,000

 

In exchange for receipt
of $76,000, TimefireVR Inc., a Nevada corporation (the “Company”), hereby promises to pay to the order
of *************, or its registered assigns (“Holder”) the amount set forth above as the Original Principal
Amount ( the “Principal”) when due, six months from the Issuance Date, as defined (the “Maturity Date”)
whether upon the Maturity Date, or upon acceleration, redemption or otherwise (in each case in accordance with the terms hereof)
and to pay interest (“Interest”) on any outstanding Principal at 12% per annum or as provided in Section 2.
from the date set forth above as the Issuance Date (the “Issuance Date” or the “Subscription Date”)
until the same becomes due and payable, whether upon the Maturity Date or upon acceleration, redemption or otherwise (in each case
in accordance with the terms hereof).

 

1.
PAYMENTS OF PRINCIPAL. On the Maturity Date, the Company shall pay to the Holder an amount in cash representing all
outstanding Principal, accrued and unpaid Interest. Other than as specifically permitted by this Note, the Company may not prepay
any portion of the outstanding Principal. Notwithstanding anything in this Note to the contrary, if the Company sells any equity
or debt, which for avoidance of doubt shall include commercial debt or debt convertible into equity, and the gross proceeds are
least $125,000, the Principal and accrued Interest of this Note shall be automatically due and payable as of the date on which
the Company receives gross proceeds of at least $125,000. Provided, however, that if the Company engages in a transaction
in which it sells or licenses all or substantially all of its assets, whether through an asset sale, merger, consolidation or otherwise,
all unpaid Principal and due under this Note with accrued interest shall be accelerated and become immediately due and payable
by the Company.

 

2.
INTEREST; INTEREST RATE.

 

(a)
Interest on this Note shall commence accruing on the Issuance Date at the Interest Rate, shall be computed on the basis
of a 360-day year and six 30-day months, shall compound monthly, and shall be payable in cash on the Maturity Date or any applicable
Redemption Date.

 

(b)
Prior to the payment of Interest on the Maturity Date or any applicable Redemption Date, Interest on this Note shall accrue
at the Interest Rate and be payable by way of inclusion of the Interest upon any redemption in accordance with Section 1 or any
required payment upon any Bankruptcy Event of Default. From and after the occurrence and during the continuance of any Event of
Default, the Interest Rate shall automatically be increased to eighteen percent (18.0%) per annum. In the event that such Event
of Default is subsequently cured and no other Event of Default then exists (including, without limitation, for the Company’s
failure to pay such Interest at the Default Rate on the applicable Interest Date), the adjustment referred to in the preceding
sentence shall cease to be effective as of the calendar day immediately following the date of such cure; provided that the Interest
as calculated and unpaid at such increased rate during the continuance of such Event of Default shall continue to apply to the
extent relating to the days after the occurrence of such Event of Default through and including the date of such cure of such Event
of Default.

 

3.
RIGHTS UPON EVENT OF DEFAULT.

 

(a)
Event of Default. Each of the following events shall constitute an “Event of Default” and each
of the events in clauses (iii), (iv) and (v) shall constitute a “Bankruptcy Event of Default”:

 

(i)
the Company’s or any Subsidiary’s failure to pay to the Holder any amount of Principal, Interest, Late Charges
or other amounts when and as due under this Note (including, without limitation, the Company’s or any Subsidiary’s
failure to pay any redemption payments or amounts hereunder) or any other agreement, document, certificate or other instrument
delivered in connection with the transactions contemplated hereby and thereby, except, in the case of a failure to pay Interest
and Late Charges when and as due, in which case only if such failure remains uncured for a period of at least two (2) Trading Days;

 

(ii)
the occurrence of any default under, redemption of or acceleration prior to of the Company or any of its Subsidiaries, other
than with respect to any Other Notes;

 

(iii)
bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings for the relief of debtors shall be
instituted by or against the Company or any Subsidiary and, if instituted against the Company or any Subsidiary by a third party,
shall not be dismissed within thirty (30) days of their initiation;

 

(iv)
the commencement by the Company or any Subsidiary of a voluntary case or proceeding under any applicable federal, state
or foreign bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt
or insolvent, or the consent by it to the entry of a decree, order, judgment or other similar document in respect of the Company
or any Subsidiary in an involuntary case or proceeding under any applicable federal, state or foreign bankruptcy, insolvency, reorganization
or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it
of a petition or answer or consent seeking reorganization or relief under any applicable federal, state or foreign law, or the
consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator,
assignee, trustee, sequestrator or other similar official of the Company or any Subsidiary or of any substantial part of its property,
or the making by it of an assignment for the benefit of creditors, or the execution of a composition of debts, or the occurrence
of any other similar federal, state or foreign proceeding, or the admission by it in writing of its inability to pay its debts
generally as they become due, the taking of corporate action by the Company or any Subsidiary in furtherance of any such action
or the taking of any action by any Person to commence a Uniform Commercial Code foreclosure sale or any other similar action under
federal, state or foreign law;

 

(v)
the entry by a court of (i) a decree, order, judgment or other similar document in respect of the Company or any Subsidiary
of a voluntary or involuntary case or proceeding under any applicable federal, state or foreign bankruptcy, insolvency, reorganization
or other similar law or (ii) a decree, order, judgment or other similar document adjudging the Company or any Subsidiary as bankrupt
or insolvent, or approving as properly filed a petition seeking liquidation, reorganization, arrangement, adjustment or composition
of or in respect of the Company or any Subsidiary under any applicable federal, state or foreign law or (iii) a decree, order,
judgment or other similar document appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar
official of the Company or any Subsidiary or of any substantial part of its property, or ordering the winding up or liquidation
of its affairs, and the continuance of any such decree, order, judgment or other similar document or any such other decree, order,
judgment or other similar document unstayed and in effect for a period of thirty (30) consecutive days;

 

(vi)
a final judgment or judgments for the payment of money aggregating in excess of $50,000 are rendered against the Company
and/or any of its Subsidiaries and which judgments are not, within thirty (30) days after the entry thereof, bonded, discharged,
settled or stayed pending appeal, or are not discharged within thirty (30) days after the expiration of such stay; provided, however,
any judgment which is covered by insurance or an indemnity from a credit worthy party shall not be included in calculating the
$50,000 amount set forth above so long as the Company provides the Holder a written statement from such insurer or indemnity provider
(which written statement shall be reasonably satisfactory to the Holder) to the effect that such judgment is covered by insurance
or an indemnity and the Company or such Subsidiary (as the case may be) will receive the proceeds of such insurance or indemnity
within thirty (30) days of the issuance of such judgment;

 

(vii)
the Company and/or any Subsidiary, individually or in the aggregate, either (i) fails to pay, when due, or within any applicable
grace period, any payment with respect to any Indebtedness in excess of $50,000 due to any third party (other than, with respect
to unsecured Indebtedness only, payments contested by the Company and/or such Subsidiary (as the case may be) in good faith by
proper proceedings and with respect to which adequate reserves have been set aside for the payment thereof in accordance with GAAP)
or is otherwise in breach or violation of any agreement for monies owed or owing in an amount in excess of $50,000, which breach
or violation permits the other party thereto to declare a default or otherwise accelerate amounts due thereunder, or (ii) suffer
to exist any other circumstance or event that would, with or without the passage of time or the giving of notice, result in a default
or event of default under any agreement binding the Company or any Subsidiary, which default or event of default would or is likely
to have a material adverse effect on the business, assets, operations (including results thereof), liabilities, properties, condition
(including financial condition) or prospects of the Company or any of its Subsidiaries, individually or in the aggregate;

 

(viii)
other than as specifically set forth in another clause of this Section3(a), the Company or any Subsidiary breaches any representation
or warranty in any material respect (other than representations or warranties subject to material adverse effect or materiality
limitations, which may not be breached in any respect) or any covenant or other term or condition of any Transaction Document,
except, in the case of a breach of a covenant or other term or condition that is curable, only if such breach remains uncured for
a period of five (5) consecutive business days;

 

(ix)
a false or inaccurate certification (including a false or inaccurate deemed certification) by the Company as to whether
any Event of Default has occurred;

 

(x)
any breach or failure in any respect by the Company or any Subsidiary to comply with any provision of Section 1 of this
Note;

 

(xi)
any Material Adverse Effect (as defined in any Securities Purchase Agreement with the Holder regardless of when executed)
occurs;

 

(xii)
any provision of any transaction document shall at any time for any reason (other than pursuant to the express terms thereof)
cease to be valid and binding on or enforceable against the parties thereto, or the validity or enforceability thereof shall be
contested by any party thereto, or a proceeding shall be commenced by the Company or any Subsidiary or any governmental authority
having jurisdiction over any of them, seeking to establish the invalidity or unenforceability thereof, or the Company or any Subsidiary
shall deny in writing that it has any liability or obligation purported to be created under any Transaction Document; or

 

(xiii)
any Event of Default (as defined in the any other notes) occurs with respect to any other notes;

 

(b)
Notice of an Event of Default; Redemption Right. Upon the occurrence of an Event of Default with respect to this
Note or any 0ther note, the Company shall within one (1) business day deliver written notice thereof via facsimile or electronic
mail and overnight courier (with next day delivery specified) (an “Event of Default Notice”) to the Holder.
At any time after the earlier of the Holder’s receipt of an Event of Default Notice and the Holder becoming aware of an Event
of Default (such earlier date, the “Event of Default Right Commencement Date”) and ending (such ending date,
the “Event of Default Right Expiration Date”, and each such period, an “Event of Default Redemption
Right Period”) on the twentieth (20th) business day after the later of (x) the date such Event of Default
is cured and (y) the Holder’s receipt of an Event of Default Notice that includes (I) a reasonable description of the applicable
Event of Default, (II) a certification as to whether, in the opinion of the Company, such Event of Default is capable of being
cured and, if applicable, a reasonable description of any existing plans of the Company to cure such Event of Default and (III)
a certification as to the date the Event of Default occurred and, if cured on or prior to the date of such Event of Default Notice,
the applicable Event of Default Right Expiration Date, the Holder may require the Company to redeem (regardless of whether such
Event of Default has been cured on or prior to the Event of Default Right Expiration Date) all or any portion of this Note by delivering
written notice thereof (the “Event of Default Redemption Notice”) to the Company, which Event of Default Redemption
Notice shall indicate the portion of this Note the Holder is electing to redeem. Each portion of this Note subject to redemption
by the Company pursuant to this Section 3(b) shall be redeemed by the Company at a price equal to the Principal and accrued Interest.
To the extent redemptions required by this Section 3(b) are deemed or determined by a court of competent jurisdiction to be prepayments
of this Note by the Company, such redemptions shall be deemed to be voluntary prepayments. In the event of the Company’s
redemption of any portion of this Note under this Section 3(b), the Holder’s damages would be uncertain and difficult to
estimate because of the parties’ inability to predict future interest rates and the uncertainty of the availability of a
suitable substitute investment opportunity for the Holder. Accordingly, any redemption premium due under this Section 3(b) is intended
by the parties to be, and shall be deemed, a reasonable estimate of the Holder’s actual loss of its investment opportunity
and not as a penalty. Any redemption upon an Event of Default shall not constitute an election of remedies by the Holder, and all
other rights and remedies of the Holder shall be preserved.

 

(c)
Mandatory Redemption upon Bankruptcy Event of Default. Notwithstanding anything to the contrary herein, and notwithstanding
any conversion that is then required or in process, upon any Bankruptcy Event of Default, whether occurring prior to or following
the Maturity Date, the Company shall immediately pay to the Holder an amount in cash representing (i) all outstanding Principal,
accrued and unpaid Interest and accrued and unpaid Late Charges on such Principal and Interest, multiplied by (ii) the Redemption
Premium, in addition to any and all other amounts due hereunder, without the requirement for any notice or demand or other action
by the Holder or any other person or entity, provided that the Holder may, in its sole discretion, waive such right to receive
payment upon a Bankruptcy Event of Default, in whole or in part, and any such waiver shall not affect any other rights of the
Holder hereunder, including any other rights in respect of such Bankruptcy Event of Default, any right to conversion, and any
right to payment of the Event of Default Redemption Price or any other Redemption Price, as applicable.

 

4.
GOVERNING LAW. This Note shall be construed and enforced in accordance with, and all questions concerning the construction,
validity, interpretation and performance of this Note shall be governed by, the internal laws of the State of Illinois, without
giving effect to any choice of law or conflict of law provision or rule (whether of the State of Illinois or any other jurisdictions)
that would cause the application of the laws of any jurisdictions other than the State of New York. The Company hereby irrevocably
submits to the exclusive jurisdiction of the state and federal courts sitting in New York County, NY, for the adjudication of any
dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably
waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction
of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action
or proceeding is improper. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner
permitted by law. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted
by law. THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION
OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS NOTE OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the
Company has caused this Note to be duly executed as of the Issuance Date set out above.

 

 

	
        TIMEFIREVR INC. 

         

         

         

	By:____________________________
	Name: Jonathan Read
	Title: Chief Executive Officer

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