Amendment Deed to Global Deed of Discharge and Release, dated April 21, 2023, by and between Wilmington Trust (London) Limited, Deutsche Bank AG, London Branch, Harbert European Specialty Lending Company II S..r.l., Near Intelligence LLC, Near Intelligence PTE. LTD., and Near North America, Inc

Contract Categories: Business Finance - Release Agreements
EX-10.15I 2 fs12023ex10-15i_nearint.htm AMENDMENT DEED TO GLOBAL DEED OF DISCHARGE AND RELEASE, DATED APRIL [__], 2023, BY AND BETWEEN WILMINGTON TRUST (LONDON) LIMITED, DEUTSCHE BANK AG, LONDON BRANCH, HARBERT EUROPEAN SPECIALTY LENDING COMPANY II S.A.R.L., NEAR INTELLIGENCE LLC, NEAR INTELLIG

Exhibit 10.15.1

 

 

Dated 21 April 2023

 

Amendment Deed
(relating to a Global Deed of Discharge and Release dated 3 November 2022)

 

between

 

Wilmington Trust (London) Limited

as Common Security Agent

 

Wilmington Trust (London) Limited

as DB Facility Agent

 

Deutsche Bank AG, London Branch

as DB Facility Lender

 

Harbert European Specialty Lending Company II S.à. r.l.

as Harbert Facility Lender

 

and

 

The companies listed in Schedule 1
as Released Parties

 

White & Case Pte. Ltd.

88 Market Street #41-01

CapitaSpring

Singapore 048948

 

 

 

 

Table of Contents

 

  Page
   
1. Interpretation 2
2. Amendment of the Release Deed 3
3. Undertaking on Near NA 4
4. Representations by the Borrower 4
5. Incorporation of Terms 4
6. Amendments and Waivers 4
7. Governing Law 4
Schedule 1 Released Parties 5

 

(i)

 

 

This Deed is made on 21 April 2023

 

Between:

 

(1)Wilmington Trust (London) Limited as security trustee for the Secured Parties (as defined in the Intercreditor Agreement) (the “Common Security Agent”);

 

(2)Wilmington Trust (London) Limited as DB Facility Agent (the “DB Facility Agent”);

 

(3)Deutsche Bank AG, London Branch as DB Facility Lender (the “DB Facility Lender”);

 

(4)Harbert European Specialty Lending Company II S.à. r.l. as Harbert Facility Lender (the “Harbert Facility Lender”); and

 

(5)The Companies listed in Schedule 1 (Released Parties) (the “Released Parties”).

 

Recitals:

 

(A)Each Party has entered into a global deed of discharge and release dated 3 November 2022 (the “Release Deed”), pursuant to which the Borrower has agreed to pay to the DB Facility Lender and the Harbert Facility Lender, the Final Settlement Deferred Payment Amount (DB Facility) and the Final Settlement Deferred Payment Amount (Harbert Facility) respectively.

 

(B)The Parties have agreed to enter into this Deed to give effect to the amendments to the Release Deed set out in this Deed.

 

(C)It is intended that this document takes effect as a deed notwithstanding the fact that a Party may only execute this document under hand.

 

It is agreed as follows:

 

1.Interpretation

 

1.1Definitions

 

In this Deed:

 

Near NA” means Near North America, Inc., a corporation incorporated under the laws of Delaware, United States of America with registration number ###-###-####.

 

New Deferred Payment Deadline” means 5:00 p.m. (London time) on 24 April 2023.

 

New Final Settlement Deferred Payment Amount (DB Facility)” means US$1,650,000, which amount includes US$50,000 as reimbursement for fees and expenses of legal counsel of the DB Facility Lender.

 

New Final Settlement Deferred Payment Amount (Harbert Facility)” means €910,454.03.

 

Party” means a party to this Deed.

 

1.2Incorporation of defined terms

 

Unless a contrary indication appears, terms defined in the Release Deed (including by way of incorporation) have the same meaning in this Deed.

 

2

 

 

1.3Third Party Rights

 

(a)A person who is not party to this Deed has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce or to enjoy the benefit of any term of this Deed.

 

(b)Notwithstanding any term of this Deed, the consent of any person who is not a Party is not required to rescind, vary or amend this Deed at any time.

 

2.Amendment of the Release Deed

 

2.1Amendments

 

With effect on and from the date of this Deed but subject to the conditions in Clause 2.3 (Non-payment on New Deferred Payment Deadline), each Party agrees to make the following amendments to the Release Deed:

 

(a)the following definitions shall replace the corresponding definitions in clause 1.1 (Definitions) of the Release Deed:

 

““Deferred Payment Deadline” means 5:00 p.m. (London time) on 24 April 2023.

 

Final Settlement Deferred Payment Amount (DB Facility)” means US$1,650,000, which amount includes US$50,000 as reimbursement for fees and expenses of legal counsel of the DB Facility Lender.

 

Final Settlement Deferred Payment Amount (Harbert Facility)” means €910,454.03.”

 

(b)Clause 2(d)(i) (Settlement Conditions) of the Release Deed shall be deleted in its entirety and no amount shall be required to be deducted from the Final Settlement Deferred Payment Amount (Harbert Facility) in accordance with that provision.

 

For the avoidance of doubt, each Party acknowledges that the Borrower has, as at the date of this Deed, paid the Final Settlement Initial Payment Amount (DB Facility) and the Final Settlement Initial Payment Amount (Harbert Facility) in accordance with the Release Deed notwithstanding any adjustment to the Final Settlement Deferred Payment Amount (DB Facility) or the Final Settlement Deferred Payment Amount (Harbert Facility) pursuant to this Deed.

 

2.2Continuing obligations

 

Each Party agrees and acknowledges that, save as amended by this Deed, the Release Deed shall continue in full force and effect.

 

2.3Non-payment on New Deferred Payment Deadline

 

If:

 

(a)the DB Facility Lender does not receive all of the New Final Settlement Deferred Payment Amount (DB Facility); or

 

3

 

 

(b)the Harbert Facility Lender does not receive all of the New Final Settlement Deferred Payment Amount (Harbert Facility),

 

in each case, by the New Deferred Payment Deadline, this Clause 2 shall be deemed to have been not effective since the date of this Deed and each of the DB Facility Lender and the Harbert Facility Lender shall be entitled to exercise any of their respective rights and remedies as if the amendments to the Release Deed under this Clause 2 did not occur and the Final Settlement Deferred Payment Amount (DB Facility) and the Final Settlement Deferred Payment Amount (Harbert Facility) shall be paid by the Borrower in accordance with the Release Deed.

 

3.Undertaking on Near NA

 

(a)Near NA undertakes, on behalf of the Borrower, to pay to the DB Facility Lender the New Final Settlement Deferred Payment Amount (DB Facility) by the New Deferred Payment Deadline or the Final Settlement Deferred Payment Amount (DB Facility) by the Deferred Payment Deadline (as applicable).

 

(b)With effect from the time of receipt by the DB Facility Lender of all of the New Final Settlement Deferred Payment Amount (DB Facility) or the Final Settlement Deferred Payment Amount (DB Facility) (as applicable), the DB Facility Lender unconditionally and irrevocably releases the Borrower from its payment obligation under paragraph (b) of clause 4.1 (Deferral of Settlement Amounts) of the Release Deed, to pay the Final Settlement Deferred Payment Amount (DB Facility).

 

4.Representations by the Borrower

 

The Borrower makes the representations and warranties set out in clause 5 (Representations by the Borrower) of the Release Deed to each of the DB Facility Lender and the Harbert Facility Lender on the date of this Deed as if any reference therein to “this Deed” included a reference to this Deed.

 

5.Incorporation of Terms

 

Clauses 1.3 (Construction), 12 (Costs and Expenses), 15 (Assignments and Transfers), 16 (Partial Invalidity), 17 (Counterparts) and 19 (Enforcement) of the Release Deed shall be incorporated in this Deed as if set out in full herein mutatis mutandis and as if any reference therein to “this Deed” included a reference to this Deed.

 

6.Amendments and Waivers

 

Any term of this Deed may be amended or waived only with the consent of each Party.

 

7.Governing Law

 

This Deed and any non-contractual obligations arising out of or in connection with it are governed by English law.

 

In Witness whereof this Deed has been executed and delivered as a deed by the Released Parties and signed by the Common Security Agent, the DB Facility Agent, the DB Facility Lender and the Harbert Facility Lender on the date stated at the beginning of this Deed.

 

4

 

 

Schedule 1
Released Parties

 

Company   Jurisdiction of
incorporation
  Company number
Near Intelligence LLC (being the surviving entity following the merger of Near Intelligence Holdings Inc. with and into Paas Merger Sub 2 LLC)   Delaware   6751083
Near Pte. Ltd.   Singapore   201205693G
Near Intelligence Pte. Ltd.   Singapore   202004197Z
Near North America, Inc.   Delaware   27 ###-###-####

 

5

 

 

Signatories

 

The Borrower
SIGNED, SEALED AND DELIVERED AS A DEED  

 

By:NEAR INTELLIGENCE LLC

 

/s/ Anil Mathews   Signature
     
Anil Mathews   Name
   
Chief Executive Officer   Title
 
in the presence of    
     
/s/ Shobhit Shukla   Signature of witness
     
Shobhit Shukla   Name of witness
     
Villa 384, Adarsh Palm Retreat   Address of witness
     
     
     
     
     
President   Occupation of witness

 

 

Signature page of the Amendment Deed (Global Deed of Discharge and Release)

 

 

 

 

Other Released Parties

 

EXECUTED AND DELIVERED AS A DEED

 

By:NEAR PTE. LTD.

 

/s/ Anil Mathews   Signature of Director
     
Anil Mathews   Name of Director
   
in the presence of    
     
/s/ Shobhit Shukla   Signature of witness
     
Shobhit Shukla   Name of witness
     
Villa 384, Adarsh Palm Retreat   Address of witness
     
     
     
     
     
President   Occupation of witness

 

EXECUTED AND DELIVERED AS A DEED

 

By:NEAR INTELLIGENCE PTE. LTD.

 

/s/ Anil Mathews   Signature of Director
     
Anil Mathews   Name of Director
   
in the presence of    
     
/s/ Shobhit Shukla   Signature of witness
     
Shobhit Shukla   Name of witness
     
Villa 384, Adarsh Palm Retreat   Address of witness
     
     
     
     
     
President   Occupation of witness

 

 

Signature page of the Amendment Deed (Global Deed of Discharge and Release)

 

 

 

 

SIGNED, SEALED AND DELIVERED AS A DEED

 

By:NEAR NORTH AMERICA, INC.

 

/s/ Anil Mathews   Signature
     
Anil Mathews   Name
   
Chief Executive Officer   Title
 
in the presence of    
     
/s/ Shobhit Shukla   Signature of witness
     
Shobhit Shukla   Name of witness
     
Villa 384, Adarsh Palm Retreat   Address of witness
     
     
     
     
     
President   Occupation of witness

 

 

Signature page of the Amendment Deed (Global Deed of Discharge and Release)

 

 

 

 

The Common Security Agent
 
WILMINGTON TRUST (LONDON) LIMITED

 

By: Lisa Mariconda  
     
  /s/ Lisa Mariconda  

 

 

Signature page of the Amendment Deed (Global Deed of Discharge and Release)

 

 

 

 

The DB Facility Agent
 
WILMINGTON TRUST (LONDON) LIMITED

 

By: Lisa Mariconda  
     
  /s/ Lisa Mariconda  

 

 

Signature page of the Amendment Deed (Global Deed of Discharge and Release)

 

 

 

 

The DB Facility Lender
 
DEUTSCHE BANK AG, LONDON BRANCH

 

By: Jaipal Chawla   By: Nick Jarvis
         
  /s/ Jaipal Chawla     /s/ Nick Jarvis

 

 

Signature page of the Amendment Deed (Global Deed of Discharge and Release)

 

 

 

 

The Harbert Facility Lender

 

HARBERT EUROPEAN SPECIALTY LENDING COMPANY II S.À. R.L.

 

By: /s/ Johan Kampe  
Name:  Johan Kampe  
Title: Class A Manager  

 

 

Signature page of the Amendment Deed (Global Deed of Discharge and Release)