SEC Contract Filing

Filing Date: 2022-04-15

Document Content:
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<TYPE>EX-10.31
<SEQUENCE>6
<FILENAME>ex10-31.htm
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 162.25pt; text-align: right; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit
10.31</FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 162.25pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">LEDGERED
ABL AGREEMENT</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THIS
LEDGERED ABL AGREEMENT (&ldquo;Agreement&rdquo;) is made on this <B>28th day of March 2022 </B>between <B>Reed&rsquo;s, Inc.</B>, a Delaware
Corporation (&ldquo;Sellers&rdquo;) and Alterna Capital Solutions LLC, a Florida Limited Liability Company (&ldquo;Purchaser&rdquo;).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
<B>Definitions and Index to Definitions</B>. The following terms shall have the following meanings. All capitalized terms not otherwise
defined in this Agreement shall have the meaning set forth in the Uniform Commercial Code (the &ldquo;UCC&rdquo;) as adopted in the Chosen
State:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.85pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1.
&ldquo;Account&rdquo; &ndash; the right to payment of a monetary obligation, whether or not earned by performance, for property that
has been or is to be sold, licensed, assigned, or otherwise disposed of or for services rendered or to be rendered.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.85pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.
&ldquo;Account Debtor&rdquo; - any person who is obligated to Seller on an Account, Chattel Paper, or General Intangible.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.85pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.3.
&ldquo;Advance Rate&rdquo; &ndash; 90%, provided net dilution for the twelve (12) month trailing period is, and remains, less than 5.0%
and which percent may be revised at any time by Purchaser in Purchaser&rsquo;s sole and reasonable discretion.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.85pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.4.
&ldquo;Affiliate&rdquo; - With respect to any person that is a corporation, each other person that owns or controls directly or
indirectly the person, any person that controls or is controlled by or is under common control with the person, and each of that person&rsquo;s
senior executive officers, directors, and partners and, for any person that is a limited liability company, that person&rsquo;s
managers and members.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.85pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.5.
&ldquo;Avoidance Claim&rdquo; - Any claim that a payment received by Purchaser is a preference or otherwise avoidable under the United
States Bankruptcy Code or any other debtor-relief statute.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 28.85pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.6.
&ldquo;Balance Subject to Funds Usage Daily Rate&rdquo; - The unpaid Face Amount due on all Purchased Accounts minus the Reserve Account.</FONT></P>

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