SEC Contract Filing

Filing Date: 2024-01-05

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d845437dex101.htm
<DESCRIPTION>EX-10.1
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXECUTION VERSION </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">CONFIDENTIAL </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:2.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:2.00pt solid #000000">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PURCHASE AND SALE AGREEMENT
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>by and between </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FTX VENTURES LTD. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">and
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DAVE INC. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Dated
as of January&nbsp;4, 2024 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This PURCHASE AND SALE AGREEMENT (including the Exhibits and Schedules hereto, each as
amended or restated from time to time, this &#147;<U>Agreement</U>&#148;), dated as of January&nbsp;4,&nbsp;2024, is made by and between FTX Ventures Ltd., a BVI Business Company (&#147;<U>Seller</U>&#148;), and Dave Inc., a Delaware corporation
(&#147;<U>Purchaser</U>&#148;). The signatories to this Agreement are collectively referred to as the &#147;<U>Parties</U>&#148; and individually as a &#147;<U>Party</U>&#148;. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Recitals </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on
November&nbsp;11,&nbsp;2022 and November&nbsp;14, 2022, Seller and certain of its Affiliates (collectively, the &#147;<U>Debtors</U>&#148;) commenced voluntary proceedings under Chapter 11 of Title 11 of the United States Code (11 U.S.C.
&#167;&#167; 101, <I>et seq.</I>, as amended, the &#147;<U>Bankruptcy Code</U>&#148;) by filing petitions for relief in the United States Bankruptcy Court for the District of Delaware (the &#147;<U>Bankruptcy Court</U>&#148;), which cases are being
jointly administered for procedural purposes as <I>In</I><I></I><I>&nbsp;re FTX Trading Ltd., et al. </I>(Case <FONT STYLE="white-space:nowrap">No.&nbsp;22-11068</FONT> (JTD)) (the&nbsp;&#147;<U>Bankruptcy Proceeding</U>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Seller is the holder of $100,000,000 in original principal amount of the promissory note set forth on
<B><U>Schedule</U></B><B><U></U></B><B><U>&nbsp;A</U></B> (the &#147;<U>Note</U>&#148;) issued by Purchaser, as set forth on <B><U>Schedule</U></B><B><U></U></B><B><U>&nbsp;A</U></B>, and desires to (a)&nbsp;sell, assign and transfer to Purchaser
the Note pursuant to section 363 of the Bankruptcy Code and (b)&nbsp;be discharged from all obligations (monetary or otherwise), covenants and agreements under the Note, in each case in accordance with the applicable provisions of the Bankruptcy
Code and the Bankruptcy Rules, all upon the terms and subject to the conditions set forth in this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the board of
directors or other applicable governing body of Seller has determined that it is advisable and in the best interests of Seller&#146;s estate and the beneficiaries of such estate to consummate the Transactions pursuant to the Sale Order and has
approved this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Seller intends to seek the entry of the Sale Order by the Bankruptcy Court approving this Agreement and
authorizing Seller to consummate the Transactions upon the terms and subject to the conditions set forth herein and in the Sale Order; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Purchaser desires to repurchase the entire Outstanding Principal Balance (as defined in the Note) of the Note from Seller pursuant to
section 363 of the Bankruptcy Code and the terms set forth therein; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Parties acknowledge and agree that the Transactions
are being made at arm&#146;s length and in good faith and without intent to hinder, delay or defraud creditors of Seller or its