Document:

EX-4.2

 Exhibit 4.2 

FORM OF GLOBAL NOTE 

FACE OF NOTE 
 THIS NOTE
IS A GLOBAL SECURITY. UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (THE “DEPOSITORY”) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

 REGISTERED 

No. [    ] 
  

					
	CUSIP: 037411 BG9	  		  	PRINCIPAL AMOUNT
	ISIN: US037411BG97	  		  	$[            ]

 Apache Corporation 

5.350% Notes Due 2049 
 Apache
Corporation, a Delaware corporation (the “Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received hereby promises to pay to Cede & Co., or registered assigns, the
principal sum of $[            ] on July 1, 2049 (“Stated Maturity”) and to pay interest thereon from June 19, 2019 or from the most recent date in respect of which
interest has been paid or duly provided for, on January 1 and July 1 of each year (each, an “Interest Payment Date”), commencing January 1, 2020, and at Stated Maturity or upon such other date on which the principal of this
Note becomes due and payable, whether by declaration of acceleration, notice of redemption or otherwise, and including any Redemption Date (each such date, “Maturity”), at the rate of 5.350% per annum, until the principal hereof is paid or
duly made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture referred to below, be paid to the Person in whose name this Note (or one or more
Predecessor Securities) is registered as of the close of business on December 15 or June 15, as the case may be (whether or not a Business Day), next preceding such Interest Payment Date (each such date, a “Regular Record Date”).
Any such interest which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date shall forthwith cease to be payable to the Holder of this Note on such Regular Record Date, and shall be paid to the Person in whose
name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such defaulted interest to be fixed by the Trustee, notice whereof shall be given to the Holder of this Note
not less than 10 days prior to such Special Record Date, or may be paid in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such
exchange, all as more fully provided in the Indenture. 
 Payment of the principal of, and premium, if any, and interest on, this Note will
be made at the office or agency maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private
debts; provided, however, that payment of interest may be made at the option of the Company by check mailed to the Person in whose name this Note is registered at the close of business on the related record date; provided
further, that, notwithstanding anything else contained herein, if this Note is a Global Security and is held in book-entry form through the facilities of the Depository, payments on this Note will be made to the Depository or its nominee in
accordance with the arrangements then in effect between the Trustee and the Depository. 
 Reference is hereby made to the further
provisions of this Note set forth on the succeeding pages hereof, which further provisions shall for all purposes have the same effect as if set forth herein. 

 IN WITNESS WHEREOF, Apache Corporation has caused this instrument to be duly executed. 

Dated: [            ] 

 

			
	APACHE CORPORATION
		
	By:	 	  

	Name:	 	[            ]
	Title:	 	[            ]

 [SEAL] 
 Attest: 

 

			
	By:	 	  

	Name:	 	[            ]
	Title:	 	[            ]

 [Signature Page to Global Note] 

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated herein, referred to in the within-mentioned Indenture. 

 

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

       as Trustee

		
	By:	 	  

		 	Authorized Officer

 [Authentication to Global Note] 

 REVERSE OF NOTE 

Apache Corporation 
 5.350%
Notes Due 2049 
 This Note is one of a duly authorized issue of Securities of the Company issued under an Indenture, dated as of
August 14, 2018, between the Company and Wells Fargo Bank, National Association, as trustee (the “Trustee”, which term includes any successor trustee under the Indenture) (the “Indenture”), designated as the 5.350% Notes due
2049 (the “Notes”), limited to $400,000,000 aggregate principal amount, subject to the provisions of the Indenture. Reference is made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities
thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. All terms used in this Note set forth below which are not defined herein and which are defined
in the Indenture shall have the meanings assigned to them in the Indenture. 
 The Indenture provides for the defeasance of the Notes and
certain covenants in certain circumstances. 
 This Note is unsecured as to payment of principal and premium, if any, and interest, and
ranks pari passu with all other unsecured unsubordinated indebtedness of the Company. 
 Interest payments on this Note will include
interest accrued to but excluding the applicable Interest Payment Date or Maturity hereof, as the case may be. Interest payments for this Note shall be computed and paid on the basis of a 360-day year of
twelve 30-day months. 
 In the case where the applicable Interest Payment Date or Maturity with
respect hereto, as the case may be, does not fall on a Business Day, payment of principal, premium, if any, or interest otherwise payable on such day need not be made on such day, but may be made on the next succeeding Business Day with the same
force and effect as if made on the Interest Payment Date or at Maturity and, unless the Company defaults on such payment, no interest shall accrue with respect to such payment for the period from and after the Interest Payment Date or such Maturity,
as the case may be, to the date of payment. “Business Day” means any day other than a Saturday, Sunday or other day on which banking institutions in The City of New York or a place of payment are authorized or obligated by law, regulation
or executive order to close. 
 The Notes will not be subject to any sinking fund and, except as provided in the Indenture or herein, will
not be redeemable or repayable prior to their Stated Maturity. 
 The Notes are redeemable in whole at any time or in part from time to
time, at the Company’s option. If the Notes are redeemed by the Company before the date that is six months prior to their Stated Maturity, Holders of record on the relevant Regular Record Date shall have the right to receive a Redemption Price
equal to the greater of (i) 100 percent of the principal amount of the Notes then outstanding to be redeemed, or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed
(not including any portion of such payments of interest accrued to the applicable Redemption Date) discounted to the applicable Redemption Date on a semi-annual basis (assuming a 360-day year consisting of
twelve 30-day months) at the applicable Treasury Rate plus 45 basis points; plus, in each case, accrued and unpaid interest on the principal amount of the Notes being redeemed to the applicable Redemption
Date. If the Notes are redeemed by the Company on or after the date that is six months prior to their Stated Maturity, Holders of record on the relevant Regular Record Date shall have the right to receive a Redemption Price equal to 100 percent
of the principal amount of the Notes then outstanding to be redeemed, plus accrued and unpaid interest on the principal amount of the Notes being redeemed to the applicable Redemption Date. 

 The Company will, however, pay the interest installment due on any Interest Payment Date
that occurs on or before a Redemption Date to the Holders as of the close of business on the Regular Record Date immediately preceding that Interest Payment Date. 

“Treasury Rate” means, with respect to any Redemption Date, (a) the yield, under the heading which represents the
average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and
which establishes yields on actively traded U.S. Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within
three months before or after the Remaining Life (as defined below), yields for the two published maturities most closely corresponding to the Comparable Treasury Issue will be determined and the Treasury Rate will be interpolated or extrapolated
from such yields on a straight line basis, rounding to the nearest month); or (b) if such release (or any successor release) is not published during the week preceding the Calculation Date (as defined below) or does not contain such yields, the
rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury
Price for such Redemption Date. The Treasury Rate will be calculated on the third Business Day next preceding such Redemption Date (the “Calculation Date”). 

“Comparable Treasury Issue” means the U.S. Treasury security selected by an Independent Investment Banker as having a
maturity comparable to the remaining term (“Remaining Life”) of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of such Notes. 
 “Comparable Treasury Price” means, with respect
to any Redemption Date, (1) the average of five Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains
fewer than five such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Independent Investment
Banker” means one of Citigroup Global Markets Inc., HSBC Securities (USA) Inc., TD Securities (USA) LLC or Wells Fargo Securities, LLC, or their respective successors, as specified by the Company, or, if those firms are unwilling or unable
to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Company. 

“Reference Treasury Dealer” means each of (1) Citigroup Global Markets Inc., HSBC Securities (USA) Inc., TD Securities
(USA) LLC or Wells Fargo Securities, LLC, and their respective successors, provided, however, that if any of the foregoing shall cease to be a primary U.S. government securities dealer in the United States (a “Primary Treasury
Dealer”), the Company shall substitute therefor another Primary Treasury Dealer and (2) any one other Primary Treasury Dealer selected by the Company after consultation with the Independent Investment Banker. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the
average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at
5:00 p.m., New York City time, on the Calculation Date. 

 Holders of Notes to be redeemed will be given notice of redemption, at their addresses as
set forth in the Security Register for the Notes, by first-class mail at least 10 and not more than 60 days prior to the date fixed for redemption, as provided in the Indenture. When notes are in the form of Global Notes, such notice will be sent
pursuant to the applicable procedures of the Depositary. Unless the Company defaults in payment of the Redemption Price, on and after the Redemption Date interest will cease to accrue on the Notes or portions thereof called for redemption. 

If fewer than all of the Notes are to be redeemed, the Trustee will select, at least 10 and not more than 60 days prior to the Redemption
Date, the particular Notes or portions thereof for redemption from the outstanding Notes not previously called for redemption, based on the method required by the Depositary. The Trustee may select for redemption Notes and portions of Notes in
amounts of $1,000 or whole multiples of $1,000. 
 If any Event of Default with respect to the Notes shall occur and be continuing, the
principal of the Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 
 As set forth in, and
subject to the provisions of, the Indenture, no Holder of any Note will have any right to institute any proceeding with respect to the Indenture, the Notes, or for any remedy thereunder, unless (i) such Holder shall have previously given to the
Trustee written notice of a continuing Event of Default with respect to the Notes, (ii) the Holders of not less than 25% in principal amount of the Outstanding Notes shall have made written request, and offered reasonable indemnity against the
costs, expenses and liabilities to be incurred in compliance with such request, to the Trustee to institute such proceeding as Trustee, (iii) the Trustee shall have failed to institute such proceeding within 60 days after receipt of such
written notice, request and offer of indemnity and (iv) the Trustee shall not have received from the Holders of a majority in principal amount of the Outstanding Notes a direction inconsistent with such request within such 60 day period;
provided, however, that such limitations do not apply to a suit instituted by the Holder hereof for the enforcement of payment of the principal of or premium, if any, and any interest on this Note on or after the respective due dates
expressed herein. 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the Holders of the Securities of each series thereunder to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate
principal amount of such Securities then Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of not less than a majority in principal amount of the Securities of each series thereunder at the time
Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain restrictive provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or
waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of any Note issued upon the registration of transfer hereof or in exchange for or in lieu hereof, whether or not notation of such consent
or waiver is made upon this Note. 
 No reference to the Indenture and no provision of this Note or of the Indenture shall alter or impair
the obligation of the Company, which is absolute and unconditional, to pay the principal of and premium, if any, and any interest on this Note at the times, places and rate, and in the coin or currency, herein prescribed. 

The Notes are issuable only in fully registered form in denominations of $2,000 and integral multiples of $1,000 in excess thereof. As
provided in the Indenture and subject to certain limitations therein set forth, this Note is exchangeable for a like aggregate principal amount of Notes of this series and of like tenor of any authorized denomination, as requested by the Holder
surrendering the same. As 

 
provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in the Security Register, upon surrender of this Note for registration of
transfer at the office or agency of the Company in any place where the principal of and any interest on this Note are payable or at such other offices or agencies as the Company may designate, duly endorsed by, or accompanied by a written instrument
of transfer in form satisfactory to, the Company and the Security Registrar or any transfer agent duly executed by the registered owner hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like
tenor, of authorized denominations and for the same aggregate principal amount and Stated Maturity will be issued to the designated transferee or transferees. 

Subject to the terms of the Indenture, prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any
agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note is overdue, and neither the Company, the Trustee nor any such agent shall be affected by
notice to the contrary. 
 No service charge shall be made for any registration of transfer or exchange of this Note, but, subject to
certain limitations set forth in the Indenture, the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

The Indenture and this Note shall be governed by and construed in accordance with the laws of the State of New York without regard to the
conflicts of laws principles thereof. 
 This Note shall not be valid or become obligatory for any purpose until the Trustee’s
Certificate of Authentication hereon shall have been executed by the Trustee. 
 ****** 

 ASSIGNMENT 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 

 

	
	  

	Please insert Social Security or other identifying number of assignee
	
	  

	(please print or type name and address of assignee)

 the within Security and all rights thereunder and does hereby irrevocably constitute and appoint the aforesaid assignee
attorney to transfer the within Security on the books kept for registration thereof, with full power of substitution in the premises. 
  

							
	 Dated:
	 	  
	 		 	  

 In the presence of: 
 NOTICE:
The signature to this assignment must correspond with the name as it appears upon the face of the within Security in every particular, without alteration or enlargement or any change whatever. When assignment is made by a guardian, trustee, executor
or administrator, an officer of a corporation, or anyone in a representative capacity, proof of his or her authority to act must accompany the Security. The signature must be guaranteed by an Institution which is a member of one of the following
recognized signature Guarantee Programs: (i) The Securities Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) in such other
guarantee program acceptable to the Trustee.ex_146645.htm

Exhibit 4.1

 

 

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR THE SECURITIES LAWS OF ANY STATE. THIS THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED AND THIS NOTE MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED IN THE ABSENCE OF REGISTRATION UNDER SAID ACT AND ALL OTHER APPLICABLE SECURITIES LAWS OR UNLESS AN EXEMPTION FROM REGISTRATION IS AVAILABLE.

 

	$52,236.11	 No. 1	 

                                                                                             

SALON MEDIA GROUP, INC.

SUBORDINATED SECURED PROMISSORY NOTE

 

December 7, 2018

 

1. General. For value received, and subject to the terms hereof, SALON MEDIA GROUP, INC., a Delaware corporation ("Payor"), promises to pay to the order of HUMILIS HOLDINGS CAPITAL FUND LP ("Payee"), the principal amount of FIFTY TWO THOUSAND TWO HUNDRED THIRTY SIX AND 11/100 DOLLARS ($52,236.11). This secured promissory note (the "Note") is being issued pursuant to the terms and conditions of that certain Subscription Agreement dated of event date herewith by and among Payor, Payee and the other subscribers set forth therein (the “Agreement”). All capitalized terms not defined herein shall have the meanings ascribed to them in the Agreement.

 

2. Term; Payments.

 

(a)     The Note shall be repaid in full with all accrued and unpaid interest thereon on June 30, 2019 (the “Maturity Date”).

 

(b)     In the event of a Change of Control and at the written election of the Payee, the outstanding principal amount of this Note, plus all accrued and unpaid interest shall be due and payable immediately prior to the closing of such Change of Control. For purposes of this Note, “Change of Control” shall mean (i) any reorganization, merger or consolidation of the Payor, other than a transaction or series of related transactions in which the holders of the voting securities of the Payor outstanding immediately prior to such transaction or series of related transactions retain immediately after such transaction or series of related transactions, retain at least a majority of the total voting power represented by the outstanding voting securities of the Payor or such other surviving or resulting entity, (ii) a sale of all of the outstanding shares of capital stock of the Payor, or (iii) a sale, lease, transfer, exclusive license or other disposition to a third party of all or substantially all of the assets of the Payor.

 

3. Interest. Interest shall accrue from the date hereof on any unpaid principal balance of this Note at the rate of ten percent (10%) per annum. Interest accrued under this Section 3 shall, at the Company’s option, be paid in cash or added to the principal amount then outstanding hereunder on the last business day of every fiscal quarter beginning February 28, 2019.

 

1

 

 

4. Place of Payment. Any and all amounts payable by Payor to Payee hereunder shall be made in immediately available funds and shall be paid at _________________________________, or at such other address of which Payee shall give written notice to Payor.

 

5. Security Agreement. This Note is a secured obligation of the Payor and is secured by certain collateral (the “Collateral”) described in that certain Security Agreement of even date herewith (the "Security Agreement") entered into by the parties hereto.

 

6. Subordination.

 

(a) The obligation evidenced by this Note is the subject of a Subordination Agreement by and between the Payor, Payee and PubLife, LLC (“Senior Indebtedness”). As used herein, the term “Senior Indebtedness” means the principal amount of, and interest and/or premium, if any, on any and all indebtedness of Payor (i) for borrowed money or obligations payable to PubLife, LLC. or (ii) any such indebtedness or any debentures, notes or other evidence of indebtedness issued in exchange for any such Senior Indebtedness.

 

(b) Subject to the Payee’s rights with respect to the Collateral, upon the acceleration of any Senior Indebtedness or upon the maturity of all or any portion of the principal amount of any Senior Indebtedness by lapse of time, acceleration or otherwise, all of such Senior Indebtedness which has been accelerated or matured shall first indefeasibly be paid in full before any payment is made by the Payor or any person acting on behalf of the Payor on account of any obligations evidenced by this Note.

 

(d) By its acceptance of this Note, the Payee agrees to execute and deliver such documents as may be reasonably requested from time to time by the Payor or the holder of any Senior Indebtedness in order to implement the foregoing provisions of this Section.

 

7. Events of Default. The occurrence of any one or more of the following events shall constitute an event of default hereunder ("Event of Default"):

 

(a) Failure of Payor to pay the principal of or interest on this Note, when and as the same shall become due and payable and such failure continues unremedied for five (5) business days.

 

(b) The material default, breach or violation of Payor in the performance or observance of any of the other covenants, agreements, representations, warranties or conditions of Payor contained in this Note and such material default, breach or violation continues unremedied for a period of fifteen (15) days following the occurrence thereof.

 

2

 

 

(c) The occurrence of an Event of Default under the Security Agreement securing this Note.

 

(d) The admission in writing of Payor of its inability to pay its debts generally as they become due.

 

(e) Filing by Payor of a petition in bankruptcy or a petition to take advantage of any insolvency act.

 

(f) The making by Payor of an assignment for the benefit of its creditors.

 

(g) The consent by Payor to the appointment of a receiver of itself or of the whole or any substantial part of its property.

 

(h) Adjudication of Payor as bankrupt on a petition in bankruptcy filed against it which is not dissolved within sixty (60) days.

 

(i) Entry of an order, judgment or decree by a court of competent jurisdiction appointing, without the consent of Payor, a receiver of Payor or of the whole or any substantial part of its property, or approval of a petition filed against it seeking reorganization or arrangement of Payor under the federal bankruptcy laws or any other applicable law or statute of the United States of America or any state thereof, if such order, judgment or decree is not vacated or set aside or stayed within sixty (60) days from the date of entry thereof.

 

8. Remedies. Upon the occurrence of an Event of Default hereunder, in addition to all other rights, remedies and powers of Payee under this Note or otherwise available at law or in equity, Payee may, at its option, without notice, declare the outstanding principal balance and interest immediately due and payable in full without further notice to or demand on Payor of any kind, including without limitation, presentment, demand or notice of demand, protest or notice of protest, notice of nonpayment or dishonor and all other notices or communications in connection with the delivery, acceptance, performance, default or enforcement of payment of this Note, all of which are hereby waived by Payor. Payor also hereby waives all notice or right of approval of any extensions, renewals, modifications or forbearances which may be allowed. Additionally, Payee shall be entitled to pursue all remedies available to it pursuant to the terms of the Security Agreement.

 

9. Notices. All notices and other communications required or permitted under this Note shall be made in accordance with the provisions of the Agreement.

 

3

 

 

10. Interest Savings Clause. If any interest payment due hereunder is determined to be in excess of the then legal maximum rate, then that portion of each interest payment representing an amount in excess of the then legal maximum rate shall instead be deemed a payment of principal and applied against the principal of the obligations evidenced by this Note.

 

11. Amendments and Waivers. This Note may be amended, modified or supplemented by the parties hereto, provided that any such amendment, modification or supplement shall be in writing and signed by both Payor and Payee. No waiver with respect to this Note shall be enforceable against Payee unless in writing and signed by Payee. Except as otherwise expressly provided herein, no failure to exercise, delay in exercising, or single or partial exercise of any right, power or remedy by Payee, and no course of dealing between the parties, shall constitute a waiver of, or shall preclude any other or further exercise of the same or any other right, power or remedy.

 

12. Successors and Assigns. This Note shall be binding upon the parties and their respective successors and assigns. Payor shall not in any manner assign any of its rights or obligations under this Note without the express prior written consent of the holder of this Note.

 

13. Severability. If any provision of this Note is construed to be invalid, illegal or unenforceable, then the remaining provisions hereof shall not be affected thereby and shall be enforceable without regard thereto.

 

14. Expense of Enforcement. In the event Payee takes any action to enforce its rights hereunder or under the Security Agreement, Payor will reimburse Payee for all expenses incurred in connection therewith, including, without limitation, reasonable attorneys' fees, appraisal fees, accounting fees, copying costs and travel and lodging expenses.

 

15. Section Headings. The section and subsections headings in this Note are for convenience of reference only, do not constitute a part of this Note, and shall not affect its interpretation.

 

16. Controlling Law. This Note is made under, and shall be construed and enforced in accordance with, the laws of the State of Delaware applicable to agreements made and to be performed solely therein, without giving effect to principles of conflicts of law. EACH OF THE PARTIES (A) IRREVOCABLY CONSENTS TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF DELAWARe, IN ANY AND ALL ACTIONS BETWEEN OR AMONG ANY OF THE PARTIES, WHETHER ARISING HEREUNDER OR OTHERWISE, (B) IRREVOCABLY WAIVES ITS RIGHT TO TRIAL BY JURY IN ANY SUCH ACTION, AND (C) IRREVOCABLY CONSENTS TO SERVICE OF PROCESS BY FIRST CLASS CERTIFIED MAIL, RETURN RECEIPT REQUESTED, POSTAGE PREPAID, TO THE ADDRESS AT WHICH SUCH PARTY IS TO RECEIVE NOTICE PURSUANT TO THE PROVISIONS OF THE AGREEMENT.

 

4

 

 

IN WITNESS WHEREOF, and intending to be legally bound hereby, Payor has caused this Note to be executed by its duly authorized officer as of the day and year first above written.

 

	 	
			PAYOR:

			 

			SALON MEDIA GROUP, INC.

			 

			 

			By:       /s/ Jordan Hoffner            

			Name: Jordan Hoffner

			Title: CEO

			

 

 

5

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