SEC Contract Filing

Filing Date: 2022-11-14

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>adex-ex101_215.htm
<DESCRIPTION>EX-10.1
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<p style="text-align:left;margin-bottom:8pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:22pt;margin-top:0pt;font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:0%;">Exhibit 10.1</p>
<p style="text-align:center;margin-bottom:21pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;text-indent:0%;">SETTLEMENT AND RELEASE AGREEMENT </p>
<p style="text-align:justify;margin-bottom:10pt;margin-top:0pt;text-indent:7.55%;font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This SETTLEMENT AND RELEASE AGREEMENT (this &#8220;<font style="text-decoration:underline;">Agreement</font>&#8221;<font style="text-decoration:underline;">)</font> is entered into as of October 9, 2022 (the &#8220;<font style="text-decoration:underline;">Effective Date</font>&#8221;), by and among (i) GRIID Infrastructure LLC, a Delaware limited liability company (&#8220;<font style="text-decoration:underline;">GRIID</font>&#8221;), Griid Holdings LLC, a Delaware limited liability company (&#8220;<font style="text-decoration:underline;">Holdings</font>&#8221;), and those additional persons that are joined as a party to that certain Existing Credit Agreement (as defined below) as borrowers and/or guarantor thereunder and as detailed on the signature page hereof (Griid and Holdings together with such additional persons which are signatories hereto as a GRIID Party, each, a &#8220;<font style="text-decoration:underline;">GRIID Party</font>&#8221; and individually and collectively, jointly and severally, the &#8220;<font style="text-decoration:underline;">GRIID Parties</font>&#8221;), (ii) each of the lenders identified as a &#8220;<font style="text-decoration:underline;">Lender</font>&#8221; on Annex I attached to the Credit Agreement (together with each of its respective successors and assigns, if any, each a &#8220;<font style="text-decoration:underline;">Lender</font>&#8221; and, collectively, the &#8220;<font style="text-decoration:underline;">Lenders</font>&#8221;), (iii) Blockchain Access UK Limited, acting not individually but as agent on behalf of, and for the benefit of, the Lenders and all other Secured Parties (in such capacity, together with its successors and assigns, if any, in such capacity, herein called the &#8220;<font style="text-decoration:underline;">Agent</font>&#8221;), (iv) Blockchain Capital Solutions (US), Inc. (&#8220;<font style="text-decoration:underline;">Blockchain Capital</font>&#8221; and together with the Lenders and Agent, the &#8220;<font style="text-decoration:underline;">Blockchain Parties</font>&#8221;), and (v) Adit EdTech Acquisition Corp., a Delaware corporation (&#8220;<font style="text-decoration:underline;">Adit</font>&#8221;) and Adit EdTech Sponsor, LLC (&#8220;<font style="text-decoration:underline;">Sponsor</font>&#8221;&nbsp;&nbsp;and together with Adit, the &#8220;<font style="text-decoration:underline;">Adit Parties</font>&#8221; and, together with the GRIID Parties and the Blockchain Parties, the &#8220;<font style="text-decoration:underline;">Parties</font>&#8221;). </p>
<p style="text-align:center;margin-bottom:10pt;margin-top:0pt;margin-left:0.11%;text-indent:-0.11%;font-weight:bold;font-family:Times New Roman;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;">RECITALS </p>
<p style="text-align:justify;margin-bottom:10pt;margin-top:0pt;text-indent:7.55%;font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A.<font style="margin-left:36pt;"></font>Certain of the GRIID Parties, Lenders and Agent are parties to that certain Third Amended and Restated Credit Agreement dated as of November 19, 2021 (as amended or modified prior to the date hereof, the &#8220;<font style="text-decoration:underline;">Existing Credit Agreement</font>&#8221;) and that certain Amended and Restated Guaranty and Security Agreement dated as of November 29, 2021 (as amended or modified prior to the date hereof &#8220;<font style="text-decoration:underline;">Existing</font> <font style="text-decoration:underline;">Security Agreement</font>&#8221;); </p>
<p style="margin-bottom:10pt;text-align:justify;margin-top:0pt;text-indent:7.55%;font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">B.<font style="margin-left:36pt;"></font><font style="font-size:11.5pt;">GRIID and Customer are parties to that certain Mining Services Agreement dated as of March 21, 2022 (the &#8220;</font><font style="text-decoration:underline;font-size:11.5pt;">Existing Mining Services Agreement</font><font style="font-size:11.5pt;">&#8221; and together with the Existing Credit Agreement, the Existing Security Agreement and the other Loan Documents (as defined in the Existing Credit Agreement), the &#8220;</font><font style="text-decoration:underline;font-size:11.5pt;">Subject Agreements</font><font style="font-size:11.5pt;">&#8221;)</font>; </p>
<p style="text-align:justify;margin-bottom:10pt;margin-top:0pt;text-indent:7.55%;font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">C.<font style="margin-left:36pt;"></font>Adit and Griid Holdco LLC, the parent of GRIID, are parties to that certain Agreement and Plan of Merger dated as of November 29, 2021 among Adit, Griid Holdco LLC, ADEX Merger Sub, LLC; </p>
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