SEC Contract Filing

Filing Date: 2016-12-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.21
<SEQUENCE>4
<FILENAME>s104854_ex10-21.htm
<DESCRIPTION>EXHIBIT 10.21
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Exhibit 10.21</P>

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

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

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This Continuing Guaranty,
dated as of October __, 2016 (&ldquo;<U>Guaranty</U>&rdquo;), is by John Hall, an individual (&ldquo;<U>Guarantor</U>&rdquo;),
in favor of Moriah Education Management, LLC, a Delaware limited liability company (&ldquo;<U>Lender</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>RECITALS</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capitalized
terms not otherwise defined herein have the meaning set forth in that certain Loan and Security Agreement, of even date herewith
(the &ldquo;<U>Loan Agreement</U>&rdquo;), by and among Greenwood Hall, Inc., a Nevada corporation, and PCS Link, Inc., a California
corporation, as borrowers (collectively, &ldquo;<U>Borrower</U>&rdquo;) and Lender. &ldquo;<U>Guarantor Obligations</U>&rdquo;
means Guarantor&rsquo;s guarantee of the full and prompt payment, satisfaction and performance of the Obligations in accordance
with the terms and subject to the limitations set forth herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guarantor
desires that Lender establish a revolving loan facility for Borrower in the principal amount of up to Three Million Five Hundred
Thousand Dollars ($3,500,000) pursuant to the Loan Agreement (such facility, as may be modified or replaced from time to time,
the &ldquo;<U>Facility</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lender
has conditioned its willingness to establish the Facility upon the fulfillment of certain conditions, among them that Guarantor
enters into this Guaranty.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guarantor
acknowledges and agrees that Guarantor will derive a substantial and direct benefit and advantage from the Facility and other agreements
and financial accommodations of Lender to Borrower under the Loan Documents.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Accordingly, in consideration
of the foregoing and the mutual covenants and agreements hereinafter set forth, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged by Guarantor, the parties hereby agree as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Section 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Guaranty</U>.
Guarantor hereby absolutely, unconditionally and irrevocably guarantees to Lender the full and prompt payment, satisfaction and
performance of any and all Obligations as and when due, whether at stated maturity, by acceleration or otherwise, and including
any and all interest, fees, expenses, damages, and penalties that may be paid or incurred by Lender in the collection of all or
any portion of the Obligations or the exercise or enforcement of any one or more of the other rights, powers, privileges, remedies
and interests of Lender relating thereto, irrespective of the manner or success of any such collection, exercise or enforcement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Section 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>[INTENTIONALLY
OMIITTED]</U></P>

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