Amendment to Pledge and Security Agreement between iPower Inc. and JPMorgan Chase Bank, N.A.
This amendment, dated February 16, 2022, updates the Pledge and Security Agreement originally made on November 12, 2021, between iPower Inc. and JPMorgan Chase Bank, N.A. It certifies that previous representations remain true and adds new collateral—specific shares in several companies—to the agreement. These shares will now secure the obligations under the original security agreement. The amendment is signed by iPower Inc.'s Chief Financial Officer.
Exhibit 10.8
AMENDMENT
This Amendment, dated February 16, 2022 is delivered pursuant to Section 4.4 of the Security Agreement referred to below. All defined terms herein shall have the meanings ascribed thereto or incorporated by reference in the Security Agreement. The undersigned hereby certifies that the representations and warranties in Article III of the Security Agreement are and continue to be true and correct. The undersigned further agrees that this Amendment may be attached to that certain Pledge and Security Agreement, dated November 12, 2021, between the undersigned and the other Loan Parties, as the Grantors, and JPMorgan Chase Bank, N.A., as the Administrative Agent (as amended, restated, supplemented or otherwise modified from time to time prior to the date hereof, the “Security Agreement”) and that the Collateral listed on Schedule I to this Amendment shall be and become a part of the Collateral referred to in said Security Agreement and shall secure all Secured Obligations referred to in the Security Agreement.
IPOWER INC., | |
a Nevada corporation | |
By /s/ Kevin Vassily | |
Name: Kevin Vassily | |
Title: Chief Financial Officer |
1 |
SCHEDULE I TO AMENDMENT
STOCKS
Name of Grantor | Issuer |
Number of Shares | Class of Stock | Percentage of Outstanding Shares |
iPower Inc. | Anivia Limited | 32,500 | Ordinary Shares | 65% |
Aravia Limited | Fly Elephant Limited | 6.500 | Ordinary Shares | 65% |
Fly Elephant Limited | Dayou Renzai (Shenzhen) Technology Co., Ltd. | 65 | Ordinary Shares | 65% |
2 |