SEC Contract Filing

Filing Date: 2022-11-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>9
<FILENAME>ex10_6.htm
<DESCRIPTION>EXHIBIT 10.6
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.6</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>PLEDGE AGREEMENT</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">(Accounts)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Pledge Agreement (this
&ldquo;<B><I>Agreement</I></B>&rdquo;) is entered into as of November __, 2022, by and between <B>BitNile Holdings, Inc.</B>, a Delaware
corporation, and <B>JGB Collateral, LLC</B>, as collateral agent (&ldquo;<B><I>Secured Party</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, reference
is made to that certain Loan and Guaranty Agreement dated as of the date hereof by and among Pledgor, as a borrower, the other borrowers
and guarantors party thereto, the lenders party thereto, and the Secured Party (as may be amended, modified, supplemented or restated
from time to time, the &ldquo;<B><I>Loan Agreement</I></B>&rdquo;). Capitalized terms used but not defined herein shall have the meanings
given such terms in the Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, it is a condition
to Lenders&rsquo; obligation to make the Term Loan under the Loan Agreement that Pledgor execute and deliver this Agreement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, Pledgor has
agreed to grant a Lien in, and pledge and assign as applicable, the Collateral (as defined below) to Secured Party, as herein provided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE</B>, for
valuable consideration, the receipt and sufficiency of which are hereby acknowledged and agreed, the parties hereto agree as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: windowtext">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Security
Interest. </B>For good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Pledgor hereby pledges,
assigns and grants to Secured Party on behalf of the Lenders a first priority security interest in Pledgor&rsquo;s right, title and interest
in, to and under all of the following assets, whether now owned or existing or hereafter acquired or arising, and wherever located (collectively,
the &ldquo;<B><I>Collateral</I></B>&rdquo;) to secure the payment and the performance of the Secured Obligations:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
deposit account listed on <B><I>Schedule 1</I></B> hereto (including any subaccount or substitute or successor account, the &ldquo;<B><I>Collateral
Account</I></B>&rdquo;) and all cash which may from time to time be deposited, credited, held or carried in the Collateral Account; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>all
proceeds (as defined in the UCC) of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: windowtext">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Secured
Obligations. </B>&ldquo;<B><I>Secured Obligations</I></B>&rdquo; means the Obligations as defined in the Loan Agreement and all amounts
owed by Pledgor under this Agreement, including without limitation, Secured Party&rsquo;s costs and expenses to obtain, preserve, perfect,
defend and enforce the Lien created by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: windowtext">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Pledgor&rsquo;s
Warranties. </B>Pledgor hereby represents and warrants to Secured Party that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent