And they do have momentus stock listed in the agreement. I know some had part of that in their portfolio. For whatever that’s forth.
LJ
2. Amendments.
(A) The following definitions are used in this Amendment and added to Section 1.1 of the Loan Agreement in the appropriate alphabetical order:
“AEL Trust” means The AEL Irrevocable Trust, a trust organized under the laws of the State of California.
“First Amendment” means the First Amendment to Loan and Security Agreement, dated on or about August __, 2018.
1
“Funding Date” means on or about the date of the First Amendment.
“HT” means HighTimes Holding Corp., a Delaware corporation.
“HT Stock” means the 227,273 shares of Class A voting common stock, $0.0001 par value per share of HT to be purchased by Borrower for $2,500,000 pursuant to the HT Stock Purchase.
“HT Stock Purchase” means the purchase by Borrower of the HT Stock from HT at a purchase price of $11.00 per share of HT Stock, pursuant to HT’s “Regulation A+” initial public offering under Section 506 of the JOBS Act of 2016 as described in HT’s Form 1-A Regulation A Offering Circular that was qualified by the SEC on July 26, 2018 as supplemented by one or more SEC Form 1-U filed by HT.
“Momentous Stock” means _________shares1 of common stock of Momentous Entertainment Group, Inc., a Nevada corporation (“Momentous”) that were issued to the AEL Trust, effective as of August 7, 2017, upon the automatic conversion of 7,500 shares of Series C Preferred Stock of Momentous and which are being pledged to Lender pursuant to a Pledge and Security Agreement dated August ___, 2018 between Lender and the AEL Trust.
