1. |
Amendment of Section 11.2 of the Original Note. Section 11.2 of the Original Note is hereby amended
and restated in its entirety as follows:
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a) |
The Company will indemnify and hold each Investor, its Affiliates and their respective directors, officers, managers, shareholders, members, partners, employees and agents and
permitted successors and assigns (each, an “Investor Party”) harmless from any and all losses, liabilities, obligations, claims, contingencies,
damages, costs and expenses, including all judgments, amounts paid in settlements, court costs and reasonable attorneys’ fees and costs of investigation and defense (collectively, “Losses”) that any such Investor Party may suffer or incur as a result of or relating to:
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i. |
any material breach or inaccuracy of any representation, warranty, covenant or agreement made by the Company in any Transaction Document;
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ii. |
any material misrepresentation made by the Company in any Transaction Document or in any SEC Document;
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iii. |
any material omission to state any material fact necessary in order to make the statements made in any SEC Document, in light of the circumstances under which they were made, not
misleading;
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iv. |
any Proceeding before or by any court, public board, government agency, self-regulatory organization or body based upon, or resulting from the execution, delivery, performance or
enforcement of any of the Transaction Documents or the consummation of the transactions contemplated thereby, and whether or not such Investor is party thereto by claim, counterclaim, crossclaim, as a defendant or otherwise, or if such
Proceeding is based upon, or results from, any of the items set forth in clauses (i) through (iii) above;
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v. |
except, in the case of clauses (ii) and (iii) above, to the extent, but only to the extent, that such misrepresentation or omission is based upon information regarding such
Investor furnished in writing to the Company by or on behalf of the Investor expressly for use therein or the Investor has omitted a material fact from such information or otherwise violated the 1933 Act, 1934 Act or any state securities
law or any rule or regulation thereunder.
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b) |
If any action shall be brought against any Investor Party in respect of which indemnity may be sought pursuant to this Agreement, such Investor Party shall promptly notify the
Company in writing, and the Company shall have the right to assume the defense thereof with counsel of its own choosing reasonably acceptable to the Investor Party. Any Investor Party shall have the right to employ separate counsel in any
such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Investor Party except to the extent that (i) the employment thereof has been specifically authorized by the
Company in writing, (ii) the Company has failed after a reasonable period of time to assume such defense and to employ counsel or (iii) in such action there is, in the reasonable opinion of counsel, a material conflict on any material
issue between the position of the Company and the position of such Investor Party, in which case the Company shall be responsible for the reasonable fees and expenses of no more than one such separate counsel. The Company will not be
liable to any Investor Party under this Agreement (i) for any settlement by an Investor Party effected without the Company’s prior written consent, which shall not be unreasonably withheld or delayed; or (ii) to the extent, but only to
the extent that a loss, claim, damage or liability is attributable to any Investor Party’s breach of any of the representations, warranties, covenants or agreements made by such Investor Party in this Agreement or in the other Transaction
Documents.
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c) |
In addition to the indemnity contained herein, the Company will reimburse each Investor Party for its reasonable legal and other expenses (including the cost of any
investigation, preparation and travel in connection therewith) incurred in connection therewith, as such expenses are incurred.
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d) |
The provisions of this Section 12.1 shall survive the termination or expiration of this Agreement.
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2. |
No Further Amendment. The Parties agree that, except as provided herein, all other provisions of the Original Note shall, subject to the amendments set forth in Section 1 of this
Amendment No. 1, continue unmodified, in full force and effect and constitute legal and binding obligations of all Parties in accordance with its terms. This Amendment No. 1 is limited precisely as written and shall not be deemed to be an
amendment to any other term or condition of the Agreement or any of the documents referred to therein. Upon the execution and delivery of this Amendment No. 1 by each of the Parties, the Original Note, as modified by this Amendment No. 1
shall constitute the Note for all purposes.
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XCF GLOBAL, INC.
(f/k/a FOCUS IMPACT BH3 NEWCO, INC.)
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By /s/ Mihir Dange
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Name: Mihir Dange
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Title: Chief Executive Officer
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By its acceptance of this Amendment No. 1, Soule acknowledges and agrees to be bound by the provisions of Section 6, Section 11, and Section 12 of the Original Note, as amended by this
Amendment No. 1.
SOULE
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/s/ Randy Soule
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Name: Randall Soule
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By its acceptance of this Note, the Noteholder acknowledges and agrees to be bound by the provisions of Section 11 of the Original Note, as amended by this Amendment No. 1.
Helena Global Investment Opportunities 1 Ltd
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By /s/ Jeremy Weech
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Name: Jeremy Weech
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Title: Managing Partner
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