gbt technologies ,,, on this episode ................................................ below is partiall of the pledge agreement ,,, REFER TO POST #18823 JULY 23 FOR FULL AGREEMENT JULY 23 2023
THE IMPORNTIANT PART IS WHAT DOES GBT HAVE THE RIGHT TO ? AM I MISSING SOMETHING ?
READ CAREFULLY!!! then read full agreement post 18823
JV= joint venture GBT TOKENIZE CORP
PLEDGOR = GBT TECHNOLOGIES
Pledge Agreement by and between GBT Tokenize Corp. and Magic Internacional Argentina FC, S.L. dated July 20, 2023
Contract Categories: Business Finance - Pledge Agreements
EX-10.3 4 e4867_ex10-3.htm EXHIBIT 10.3
A. In light of entering Master Joint Venture and License Agreement (“Master Agreement”) and the Amended and Restated Joint Venture Agreement with respect to the creation of GBT Tokenize Corp. (“JV”), MAGIC has agreed to provide funding to JV.
B. MAGIC has funded said technology without any investment from Pledgor, other than the contribution of Pledgor’s own shares of common stock which has ********limited monetary value as such shares of common stock are being issued to an affiliate and are restricted by law******
C. Pledgor, in order to allow MAGIC to limit its exposure as well as support its investment in its technology being licensed to JV, Pledgor has agreed to pledge all of its shares of JV issued to Pledgor base on the Master Agreement, representing 50% of all shares outstanding of JV and 100% of all shares outstanding of Greenwich International Holdings, a Costa Rica corporation (“Pledged Securities”).
D. MAGIC, in consideration of Pledgor providing such pledge, Magic has agreed to provide Pledgor with a license to its technology platform on a worldwide basis.
NOW, THEREFORE, in consideration of the foregoing and the terms and conditions hereafter set forth, Pledgor agrees as follows:
1. Pledge. In accordance with the term of this Agreement, Pledgor hereby grants to MAGIC a security interest in, and hereby assigns to MAGIC all right, title and interest of Pledgor in and to Pledged Securities, including without limitation, all evidence of the same. (Hereafter referred to as “Collateral”).
MAGIC shall be deemed to, and shall have, title to the any share certificate from this date. MAGIC may at its unilateral and absolute discretion have the shares represented by the certificate transferred into its own name. Title is herein granted for purposes of security.
Upon the Pledgor execution, delivery and performance of any future agreement or document or judgement resulting in the creation of any lien, pledge, mortgage, claim, charge or encumbrance upon any assets of the Pledgor, Magic will be entitled to foreclose on the Collateral.
2. Representations and Warranties. Pledgor represents and warrants to MAGIC that:
(a) Pledgor has, and has duly exercised, all requisite power and authority to enter into this Agreement, to pledge its interest in the Collateral and to carry out the transactions contemplated by this Agreement.
(b) Pledgor is the legal and beneficial owner of all of the Collateral.
(c) All of the Collateral is free of any pledge, mortgage, hypothecation, lien, charge, encumbrance or security interest or the proceeds thereof, except for that granted hereunder. PLEASE FEEL FREE TO EXPLAIN IF YOU HAVE AN UNDERSTANDING OF WHAT THIS MEANS
