SEC Contract Filing

Filing Date: 2024-01-31

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>irnt-ex10_4.htm
<DESCRIPTION>EX-10.4
<TEXT>
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 <p style="text-indent:6.667%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">Exhibit 10.4</font></p>
 <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">IRONNET, INC.</font></p>
 <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">TERMS FOR DIP FINANCING</font></p>
 <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
 <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">This binding term sheet (the &#x201c;</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">Term Sheet</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">&#x201d;) sets forth the principal terms of a potential superpriority, senior secured debtor-in-possession credit facility (the &#x201c;</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">DIP Facility</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">&#x201d;, the credit agreement evidencing the DIP Facility, the &#x201c;</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">DIP Credit Agreement</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">&#x201d; and, together with the other definitive documents governing the DIP Facility and the DIP Order (as defined herein), collectively, the &#x201c;</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">DIP Documents</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">,&#x201d;) each of which shall be in form and substance acceptable to the DIP Facility Agent (as defined herein), the DIP Facility Lenders(as defined herein) and the Loan Parties, to be entered into with the Loan Parties (as defined herein) in the Loan Parties&#x2019; cases (the &#x201c;</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">Chapter 11 Cases</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">&#x201d;) to be commenced under chapter 11 of title 11 of the United States Code (the &#x201c;</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">Bankruptcy Code</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">&#x201d;) in the United States Bankruptcy Court for the District of Delaware (the &#x201c;</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">Bankruptcy Court</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">&#x201d;). The DIP Facility, and the adequate protection provided therein to the beneficiaries of pre-petition liens and security interests, will be subject to the approval of the Bankruptcy Court in accordance with (i) the interim and final orders of the Bankruptcy Court authorizing the Loan Parties to enter into the DIP Facility (the &#x201c;</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">DIP Order</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">&#x201d;) and (ii) the DIP Documents.</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
 <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
 <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">This Term Sheet is provided on a confidential basis, and it is intended to be entitled to the protections of Federal Rule of Evidence 408 and any other applicable statutes or doctrines protecting the disclosure of confidential information and exchange of information; provided however, this Term Sheet may be filed with the Bankrup