Document:

EX-10.9

 Exhibit 10.9 

THIS AMENDED AND RESTATED PROMISSORY NOTE (“AMENDMENT”) IS ENTERED INTO AS OF DECEMBER 10, 2021 AND AMENDS THAT CERTAIN PROMISSORY NOTE,
DATED FEBRUARY 25, 2021 (THE “NOTE”), ISSUED BY C&W ACQUISITION CORP., A CAYMAN ISLANDS EXEMPTED COMPANY AND BLANK CHECK COMPANY, TO C&W ACQUISITION CORP. SPONSOR, L.L.C., A CAYMAN ISLANDS LIMITED LIABILITY COMPANY.
THIS AMENDMENT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION
OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED. 

AMENDED AND RESTATED 

PROMISSORY NOTE 
 Dated as
of December 10, 2021 
 WHEREAS, pursuant to this Amendment, the Maker and Payee desire to amend the Note on the terms and
conditions set forth below. 
 NOW, THEREFORE, in consideration of the covenants and conditions contained in the Note and for other
good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the undersigned agree as follows: 
  

	1.	 Amendment to the Note: The principal balance of the Note shall be increased from $300,000 to
$400,000 U.S. dollars ($400,000) (as set forth on the Schedule of Borrowings attached hereto). Section 1 of the Note is hereby amended to replace the reference to September 30, 2021 with September 30, 2022. 

 

	2.	 Miscellaneous: 

(a)    Except as specifically amended by this Amendment, the Note shall remain in full force and effect and is hereby
ratified and confirmed. 
 (b)    Section and subjection headings in this Amendment are included herein for convenience
of reference only and shall not constitute a part of this Amendment for any other purpose or be given any substantive effect. 

1.    Principal. The principal balance of this Note shall be payable on the earlier of:
(i) September 30, 2022 or (ii) the date on which Maker consummates an initial public offering of its securities (the “IPO”). The principal balance may be prepaid at any time. 

2.    Interest. No interest shall accrue on the unpaid principal balance of this Note. 

3.    Application of Payments. All payments shall be applied first to payment in full of any costs incurred
in the collection of any sum due under this Note, including (without limitation) reasonable attorney’s fees, then to the payment in full of any late charges and finally to the reduction of the unpaid principal balance of this Note. 

 4.    Events of Default. The following shall constitute an
event of default (“Event of Default”): 
 (a)    Failure to Make Required Payments. Failure by
Maker to pay the principal amount due pursuant to this Note within five (5) business days of the date specified above. 

(b)    Voluntary Bankruptcy, Etc. The commencement by Maker of a voluntary case under any applicable bankruptcy,
insolvency, reorganization, rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar official) of Maker or for any
substantial part of its property, or the making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate action by Maker in furtherance of any of
the foregoing. 
 (c)    Involuntary Bankruptcy, Etc. The entry of a decree or order for relief by a court
having jurisdiction in the premises in respect of Maker in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official)
of Maker or for any substantial part of its property, or ordering the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60
consecutive days. 
 5.    Remedies. 

(a)    Upon the occurrence of an Event of Default specified in Section 4(a) hereof, Payee may, by written notice to
Maker, declare this Note to be due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable thereunder, shall become immediately due and payable without presentment, demand, protest or other notice
of any kind, all of which are hereby expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding. 

(b)    Upon the occurrence of an Event of Default specified in Sections 4(b) and 4(c), the unpaid principal balance of
this Note, and all other sums payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without any action on the part of Payee. 

6.    Waivers. Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for
payment, demand, notice of dishonor, protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by Payee under the terms of this Note, and all benefits that might accrue to Maker by
virtue of any present or future laws exempting any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution, or providing for any stay of execution, exemption
from civil process, or extension of time for payment; and Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution issued hereon, may be sold upon any such writ in whole or
in part in any order desired by Payee. 
 7.    Unconditional Liability. Maker hereby waives all notices
in connection with the delivery, acceptance, performance, default, or enforcement of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party, and shall not be affected in any
manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee with respect to the
payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become parties hereto without notice to Maker or affecting Maker’s liability hereunder. 

  
 2 

 8.    Notices. All notices, statements or other documents
which are required or contemplated by this Agreement shall be: (i) in writing and delivered personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission to the address
designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic mail address most
recently provided to such party or such other electronic mail address as may be designated in writing by such party. Any notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally,
on the business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery to an overnight courier service or five (5) days after mailing if sent by mail. 

9.    Construction. THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK,
WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF. 
 10.    Severability. Any provision contained in
this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

11.    Trust Waiver. Notwithstanding anything herein to the contrary, the Payee hereby waives any and all
right, title, interest or claim of any kind (“Claim”) in or to any distribution of or from the trust account to be established in which the proceeds of the IPO conducted by the Maker (including the deferred underwriters discounts
and commissions) and the proceeds of the sale of the warrants issued in a private placement to occur prior to the consummation of the IPO are to be deposited, as described in greater detail in the registration statement and prospectus to be filed
with the Securities and Exchange Commission in connection with the IPO, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the trust account for any reason whatsoever. 

12.    Amendment; Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only
with, the written consent of the Maker and the Payee. 
 13.    Assignment. No assignment or transfer of
this Note or any rights or obligations hereunder may be made by any party hereto (by operation of law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required consent shall be void.

 [Signature page follows] 

  
 3 

 IN WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this
Amendment to be duly executed by the undersigned as of the day and year first above written. 
  

					
	C&W ACQUISITION CORP.
		
	By:	 	 /s/ Nathaniel Robinson

		 	Name:	 	Nathaniel Robinson
		 	Title:	 	Chief Executive Officer

 SCHEDULE OF BORROWINGS 

The following increases or decreases in the Promissory Note have been made: 
  

							
	 Date of Increase or
Decrease
	  	 Amount of decrease in
Principal Amount of this
Promissory Note
	  	 Amount of increase in
Principal Amount of this
Promissory Note
	  	 Principal Amount of this
Promissory Note following
such decrease or increase

	 December 10, 2021
	  		  	$100,000	  	$400,000bmmj_ex101.htm

EXHIBIT 10.1
  
 Execution Version
  
 AMENDMENT NO. 1 TO LOAN AGREEMENT
  
 AMENDMENT NO. 1 TO LOAN AGREEMENT (this “Amendment”), dated as of November 30, 2021 (“Amendment No. 1 Effective Date”), among Body and Mind, Inc., a Nevada corporation (the “Borrower”), DEP Nevada, Inc., a Nevada corporation (“Holdings”), the Guarantors (together with Holdings, each a “Guarantor” and collectively, the “Guarantors” set forth in the Loan Agreement (as defined below), FG Agency Lending LLC (the “Agent”), and each of the lenders a signatory hereto (the “Lender”).
  
 RECITALS
  
 WHEREAS, Borrower, the Guarantors, the Lender, and Agent are parties to the Loan Agreement dated as of July 19, 2021 (as further amended by this Amendment, the “Loan Agreement”);
  
 WHEREAS, Borrower, the Guarantors, the Lender, and Agent have agreed to amend certain terms and conditions of the Loan Agreement on the terms and conditions set forth herein.
  
 NOW THEREFORE, the parties hereto hereby agree as follows:
  
 SECTION 1. Defined Terms. Unless otherwise specifically defined herein, each term used herein that is defined in the Loan Agreement has the meaning assigned to such term in the Loan Agreement. Each reference in the Loan Agreement to “this Agreement,” “hereof,” “hereunder,” “herein” and “hereby” and each other similar reference, and each reference in any other Loan Document to “the Loan Agreement,” “thereof,” “thereunder,” “therein,” or “thereby” or any other similar reference to the Loan Agreement shall, from the date hereof, refer to the Loan Agreement as amended hereby.
  
 SECTION 2. Amendment to Loan Agreement.
  
 	  
	 (a)
	 The following defined terms in Section 1.1 are amended as follows:

	  
	  
	  

	  
	  
	 ““Delayed Draw Request Period” means the period commencing on the Closing Date and ending on the earlier of the Delayed Draw Effective Date or June 1, 2022.”

	  
	  
	  

	  
	 (b)  
	 Schedule 7.17 is amended as follows:

	  
	  
	  

	  
	  
	 “4. On or before the date that is sixty (60) days after the Closing Date (which date may be extended in writing by Agent in its sole discretion), the Borrower shall use commercially reasonable efforts to deliver to the Agent, in form and substance reasonably acceptable to the Agent, a fully executed Landlord Waiver and Consent, by and between NMG OH 1, LLC and the applicable landlord for that certain lease property located at 709 Sugar Ln., Elyria, OH 44035.”

    
 	 
	
	

	 

  
 SECTION 3. Conditions to Effectiveness. This Amendment shall be effective as of the Amendment No. 1 Effective Date, subject to the satisfaction of the following conditions:
  
 (a) Agent shall have received this Amendment duly executed by Borrower on behalf of Borrower, the Guarantors, the Lender and Agent; and
  
 (b) Borrower shall have paid all fees, costs, client charges and expenses of counsel for the Lender payable by the Borrower pursuant to the Loan Agreement and the other Loan Documents, including, without limitation, pursuant to Article II and Section 11.5 thereof.
  
 SECTION 4. Representations and Warranties. Borrower represents and warrants as follows:
  
 (a) The representations and warranties of Borrower contained in Article VI of the Loan Agreement or any other Loan Document are true and correct in all material respects (except that any such representations and warranties that are subject to materiality or Material Adverse Effect qualifiers shall be true and correct in all respects) on and as of the Amendment No. 1 Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (except that any such representations and warranties that are subject to materiality or Material Adverse Effect qualifiers shall be true and correct in all respects) as of such earlier date.
  
 (b) This Amendment has been duly authorized and executed by Borrower, and each of the Loan Documents, as amended and supplemented by this Amendment, constitutes a legal, valid and binding agreement or instrument of Borrower, enforceable against Borrower in accordance with its respective terms, except as the enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally or by equitable principles relating to enforceability regardless of whether considered in a proceeding in equity or at law.
  
 SECTION 5. Limitation on Scope; Amendment. Except as expressly amended hereby all of the representations, warranties, terms, covenants and conditions of the Loan Agreement are and shall remain in full force and effect. The amendments set forth herein shall be limited precisely as provided for herein and shall not be deemed to be amendments of, consents to or modifications of any term or provision of the Loan Documents or any other document or instrument referred to therein or of any transaction or further or future action on the part of Borrower requiring the consent of Agent or Lender except to the extent specifically provided for herein. Agent and Lender have not and shall not be deemed to have waived any of their respective rights and remedies against Borrower or any other Loan Party for any existing or future Defaults or Events of Default.
  
 SECTION 6. Loan Document. This Agreement is a “Loan Document” as defined and described in the Loan Agreement and all of the terms and provisions of the Loan Agreement relating to Loan Documents shall apply hereto.
  
 	 
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 SECTION 7. Ratification and Further Assurances.
  
 (a) Borrower hereby (i) ratifies and reaffirms all of its payment and performance obligations, contingent or otherwise, under each of the Loan Documents to which it is a party (after giving effect hereto), in each case, as amended by this Amendment and as otherwise previously waived or modified in writing by the Agent, and (ii) to the extent Borrower granted Liens on or security interests in any of its property pursuant to any such Loan Document as security for, or otherwise guaranteed, the Borrower’s Obligations under or with respect to the Loan Documents, ratifies and reaffirms such grant of security interests and Liens and such guarantee and confirms and agrees that such security interests and Liens hereafter secure all of the Obligations, in each case, as amended hereby. Each of the Loan Parties hereby consents to this Amendment and acknowledges that each of the Loan Documents remains in full force and effect (as amended by this Amendment and as otherwise previously waived or modified in writing by the Agent) and, as so amended, is hereby ratified and reaffirmed.
  
 (b) Borrower agrees that, upon the written request of Agent, Borrower will execute and deliver such further documents as Agent may reasonably request in order to effect the provisions of this Amendment.
  
 SECTION 8. Incorporation by Reference. The governing law, jurisdiction and waiver of jury trial provisions in Sections 11.12 (Governing Law), 11.13 (Submission to Jurisdiction; Waivers), and Section 11.14 (Waiver of Defense of Illegality) of the Loan Agreement are hereby incorporated by reference into this Amendment and shall apply, mutatis mutandis, to this Amendment.
  
 SECTION 9. Loan Agreement Governs. Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of any Lender or Agent under the Loan Agreement or any other Loan Document, and shall not alter, modify, amend, novate or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Loan Agreement or any other Loan Document. This Amendment shall be deemed incorporated in, and made a part of, the Loan Agreement and the Loan Agreement, as amended by this Amendment, shall be read, taken and construed as one and the same instrument. Nothing herein shall be deemed to entitle Borrower to a future consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Loan Agreement or any other Loan Document in similar or different circumstances.
  
 SECTION 10. Counterparts; Effectiveness. This Amendment may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Amendment shall become effective when it has been executed by Borrower, each Lender party hereto and Agent on the date hereof and when Agent has received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. Delivery of an executed counterpart of a signature page to this Amendment by by email as a “.pdf” or “.tif” or similar attachment shall be effective as delivery of a manually executed counterpart of this Amendment.
  
 	 
	 3

	

	 

  
 SECTION 11. Severability. If any term or provision of this Amendment is adjudicated to be invalid under applicable laws or regulations, such provision shall be inapplicable to the extent of such invalidity without affecting the validity or enforceability of the remainder of this Amendment which shall be given effect so far as possible.
  
 SECTION 12. Release. Each of the Borrower and Guarantor does hereby release, remise, acquit and forever discharge Agent, Lender and their respective employees, agents, representatives, consultants, attorneys, fiduciaries, servants, officers, directors, partners, predecessors, successors and assigns, subsidiary corporations, parent corporation, and related corporate divisions (all of the foregoing hereinafter called the “Released Parties”), from any and all action and causes of action, judgments, executions, suits, debts, claims, demands, liabilities, obligations, damages and expenses of any and every character, known or unknown, direct and/or indirect, at law or in equity, of whatsoever kind or nature, whether heretofore or hereafter arising, for or because of any matter or things done, omitted or suffered to be done by any of the Released Parties, in the case of each of the foregoing in any way directly or indirectly arising out of or in any way connected to this Amendment, the Loan Agreement and the other Loan Documents, prior to and including the date of execution hereof(all of the foregoing hereinafter called the “Released Matters”). Each of the Borrower and the Guarantors hereby acknowledges that the agreements in this paragraph are intended to be in full satisfaction of all or any alleged injuries or damages arising in connection with the Released Matters. Each of the Borrower and the Guarantors represent and warrant to Agent and Lender that it has not purported to transfer, assign or otherwise convey any right, title or interest of the Borrower and the Guarantors in any Released Matter to any other Person and that the foregoing constitutes a full and complete release of all Released Matters.
  
 [Signature Page Follows]
  
 	 
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	 BORROWER:
  
 BODY AND MIND INC.
	  

	  
	  
	  
	  

	  
	 By:
	 /s/ Michael Mills
	  

	  
	 Name: 
	 Michael Mills
	  

	  
	 Title:  
	 Chief Executive Officer
	  

	  
	  
	  
	  

	  
	 GUARANTORS:
  
 DEP NEVADA INC.
	  

	  
	  
	  
	  

	  
	 By:
	 /s/ Stephen ‘Trip’ Hoffman
	  

	  
	 Name: 
	 Stephen ‘Trip’ Hoffman
	  

	  
	 Title:  
	 Chief Operations Officer
	  

	  
	  
	  
	  

	  
	 NEVADA MEDICAL GROUP LLC
	  

	  
	  
	  
	  

	  
	 By: 
	 /s/ Stephen ‘Trip’ Hoffman
	  

	  
	 Name: 
	 Stephen ‘Trip’ Hoffman
	  

	  
	 Title: 
	 Manager
	  

	  
	  
	  
	  

	  
	 NMG OH 1, LLC
	  

	  
	  
	  
	  

	  
	 By: 
	 /s/ Stephen ‘Trip’ Hoffman
	  

	  
	 Name: 
	 Stephen ‘Trip’ Hoffman
	  

	  
	 Title: 
	 Manager
	  

	  
	  
	  
	  

	  
	 NMG OH P1, LLC
	  

	  
	  
	  
	  

	  
	 By: 
	 /s/ Stephen ‘Trip’ Hoffman
	  

	  
	 Name: 
	 Stephen ‘Trip’ Hoffman
	  

	  
	 Title:  
	 Manager
	  

	  
	  
	  
	  

	  
	 NMG LONG BEACH, LLC
	  

	  
	  
	  
	  

	  
	 By: 
	 /s/ Stephen ‘Trip’ Hoffman
	  

	  
	 Name:
	 Stephen ‘Trip’ Hoffman
	  

	  
	 Title: 
	 Manager
	  

	  
	  
	  
	  

	  
	 NMG CATHEDRAL CITY, LLC
	  

	  
	  
	  
	  

	  
	 By: 
	 /s/ Stephen ‘Trip’ Hoffman
	  

	  
	 Name: 
	 Stephen ‘Trip’ Hoffman
	  

	  
	 Title: 
	 Manager
	  

	  
	  
	  
	  

	  
	 NMG CA 1, LLC
	  

	  
	  
	  
	  

	  
	 By: 
	 /s/ Stephen ‘Trip’ Hoffman
	  

	  
	 Name: 
	 Stephen ‘Trip’ Hoffman
	  

	  
	 Title: 
	 Manager
	  

  
 [Signature Page to Amendment No. 1 to Loan Agreement]
  
 	 
	
	

	 

   
 	 	 NMG CA P1, LLC
	
	 	 	 	 
		By:	/s/ Stephen ‘Trip’ Hoffman	
	  
	 Name: 
	 Stephen ‘Trip’ Hoffman
	 
	 	Title: 	 Manager
	 
	 	 	 	 
	  
	 NMG CA C1, LLC
	  

	  
	  
	  
	  

	  
	 By: 
	 /s/ Stephen ‘Trip’ Hoffman
	  

	  
	 Name:
	 Stephen ‘Trip’ Hoffman
	  

	  
	 Title: 
	 Manager
	  

	  
	  
	  
	  

	  
	 NMG MI 1, INC.
	  

	  
	  
	  
	  

	  
	 By: 
	 /s/ Stephen ‘Trip’ Hoffman
	  

	  
	 Name: 
	 Stephen ‘Trip’ Hoffman
	  

	  
	 Title: 
	 Chief Operations Officer
	  

	  
	  
	  
	  

	  
	 NMG MI P1, INC.
	  

	  
	  
	  
	  

	  
	 By: 
	 /s/ Stephen ‘Trip’ Hoffman
	  

	  
	 Name: 
	 Stephen ‘Trip’ Hoffman
	  

	  
	 Title: 
	 Chief Operations Officer
	  

	  
	  
	  
	  

	  
	 NMG MI C1, INC.
	  

	  
	  
	  
	  

	  
	 By: 
	 /s/ Stephen ‘Trip’ Hoffman
	  

	  
	 Name: 
	 Stephen ‘Trip’ Hoffman
	  

	  
	 Title: 
	 Chief Operations Officer
	  

  
 [Signature Page to Amendment No. 1 to Loan Agreement]
  
 	 
	
	

	 

  
  
 	 	 AGENT:
  
 FG AGENCY LENDING LLC
	
	 	 	 	 
		By:	/s/ Peter A. Bio	
	  
	 Name: 
	 Peter A. Bio
	 
	 	Title: 	 Authorized Signatory
	 

  
 [Signature Page to Amendment No. 1 to Loan Agreement]
  
 	 
	
	

	 

  
 	 	 LENDER:
  
 BOMIND HOLDINGS LLC
	
	 	 	 	 
		By:	/s/ Peter A. Bio	
	  
	 Name: 
	 Peter A. Bio
	 
	 	Title:	 Authorized Signatory
	 

  
 [Signature Page to Amendment No. 1 to Loan Agreement]

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