SEC Contract Filing

Filing Date: 2025-01-30

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ex_772120.htm
<DESCRIPTION>GUARANTY
<TEXT>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;"><b>EXHIBIT 10.2</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>GUARANTY</b></p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt; text-align: justify;">This GUARANTY dated as of January 28, 2025 (this &#8220;<b>Guaranty</b>&#8221;) is made by BROADWIND, INC., a Delaware corporation (&#8220;<b>Guarantor</b>&#8221;), in favor and for the benefit of MARKETAXESS HOLDINGS INC., a Delaware corporation (&#8220;<b>Beneficiary</b>&#8221;), in connection with that certain Tax Credit Transfer Agreement dated as of January 28, 2025 (the &#8220;<b>Purchase Agreement</b>&#8221;), by and between BROADWIND HEAVY FABRICATIONS, INC., a Wisconsin corporation (&#8220;<b>Obligor</b>&#8221;), and Beneficiary. Each of Guarantor and Beneficiary are referred to individually herein as a &#8220;Party&#8221; and together as the &#8220;Parties.&#8221;</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt; text-align: justify;">Guarantor is an affiliate of Obligor and will receive substantial direct and indirect benefits from the transactions contemplated by the Purchase Agreement, and has agreed to enter into this Guaranty to provide assurances for certain obligations of Obligor in connection with the Purchase Agreement and to induce Beneficiary to enter into the Purchase Agreement.</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt; text-align: justify;">NOW, THEREFORE, in order to induce Beneficiary to enter into the Purchase Agreement and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereto agree as follows:</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt; text-align: justify;">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Guaranty</u>. Guarantor absolutely, unconditionally and irrevocably guarantees, as primary obligor and not merely as surety, to Beneficiary:</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 27pt; text-align: justify;">(a)&nbsp;&nbsp;&nbsp;&nbsp;the full and punctual payment and performance of all present and future obligations, liabilities, covenants and agreements required to be observed and performed or paid or reimbursed by Obligor under or relating to the Purchase Agreement; and</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 27pt; text-align: justify;">(b)&nbsp;&nbsp;&nbsp;&nbsp;all reasonable and documented costs, expenses and fees (including the reasonable fees and expenses of Beneficiary&#8217;s counsel) in any way relating to the enforcement or protection of Beneficiary&#8217;s rights hereunder ((a) and (b) collectively, the &#8220;<b>Obligations</b>&#8221;).</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt; text-align: justify;">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Guaranty Absolute and Unconditional</u>. Guarantor agrees that its Obligations under this Guaranty are irrevocable, continuing, absolute and unconditional and shall not be discharged or impaired or otherwise affected by, and Guarantor hereby irrevocably waives any defenses to enforcement it may have (now or in the future) by reason of:</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 27pt; text-align: justify;">(a)&nbsp;&nbsp;&nbsp;&nbsp;Any illegality, invalidity or unenforceability of any Obligation or the Purchase Agreement or any related agreement or instrument, or any law, regulation, decree or order of any jurisdiction or any other event affecting any term of the Obligations.</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 27pt; text-align: justify;">(b)&nbsp;&nbsp;&nbs