Xeriant Inc (XERI)

[StockItOut]

Gaudy you're tiring. 1.) "As and when required," as JV payments from Xeriant.

4.3.2 Additional capital of $9,000,000 advanced monthly, in advance, as and when required in accordance with the Budget attached hereto as Exhibit D;

2.) Did XTI issue a written notice of default upon Xeriant when Xeriant did not contribute $1M, but approx $300K?
No! And with no party in default they both continued to move forward under the JV Agreement.


3.) Xeriant not funding the full $10M is permitted under the JV Agreement, if not expected under the JV Agreement.

the responsibilities and obligations of the Management Committee shall include the following:
3.1.1. Establishing and modifying the business plan of the JV as generally outlined on Exhibit D, including adjustments to any budget, and [adjustments to] funding requirements.

Whaa whaa, I'm Quester: Adjustments to the deposit, no default issued by XTI Aircraft, budget requirements changed so that Xeriant in total paid less than $10 Million... this is fraud, these guys can't do that.
I don't care if the JV Agreement says they can (so likely and most reasonably they did) I'll just do like SmartyPants2 does and just interpret the JV Agreement the way I want to... and I'm proud not be be an account or attorney, yea me!

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