SEC Contract Filing

Filing Date: 2021-05-14

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex_250004.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<p style="margin-bottom: 0; text-align: right; margin-top: 0; font-family: &quot;Times New Roman&quot;; font-size: 10pt"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.1</b></font></p>

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

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;">May 14, 2021</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Ascendiant Capital Markets, LLC</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">110 Front Street, Suite 300</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Jupiter, FL 33477</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;">Ladies and Gentlemen:</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Air T, Inc., a Delaware corporation (the &#8220;<u>Company</u>&#8221;), and Air T Funding (the &#8220;<u>Trust</u>&#8221;) confirm their agreement (this &#8220;<u>Agreement</u>&#8221;) with Ascendiant Capital Markets, LLC (the &#8220;<u>Manager</u>&#8221;) as follows:</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;">1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Definitions</u>. The terms that follow, when used in this Agreement and any Terms Agreement, shall have the meanings indicated.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 36pt; text-indent: 18pt;">&#8220;<u>Accountants</u>&#8221; shall have the meaning ascribed to such term in Section 4(m).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 36pt; text-indent: 18pt;">&#8220;<u>Act</u>&#8221; shall mean the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 36pt; text-indent: 18pt;">&#8220;<u>Action</u>&#8221; shall have the meaning ascribed to such term in Section 3(q).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 36pt; text-indent: 18pt;">&#8220;<u>Affiliate</u>&#8221; shall have the meaning ascribed to such term in Section 3(p).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 36pt; text-indent: 18pt;">&#8220;<u>Applicable Time</u>&#8221; shall mean, with respect to any Shares, the time of sale of such Shares pursuant to this Agreement or any relevant Terms Agreement.</p>

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

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 36pt; text-indent: 18pt;">&#8220;<u>Base Prospectus</u>&#8221; shall mean the base prospectus contained in the Registration Statement at the Execution Time.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 36pt; text-indent: 18pt;">&#8220;<u>Board</u>&#8221; shall have the meaning ascribed to such term in Section 2(b)(iii).</p>

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