Amendment to Pledge and Security Agreement, dated February 16, 2022

Contract Categories: Business Finance - Security Agreements
EX-10.8 9 ipower_ex1008.htm AMENDMENT TO PLEDGE AND SECURITY AGREEMENT

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

 

 

 

 

 

 

 

 

 

 

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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%
         

 

 

 

 

 

 

 

 

 

 

 

 

 

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