Assignment and Assumption Agreement among M3-Brigade Sponsor V LLC, MI7 Sponsor, LLC, and M3-Brigade Acquisition V Corp. (May 27, 2025)

Summary

This agreement, dated May 27, 2025, is between M3-Brigade Sponsor V LLC (Assignor), MI7 Sponsor, LLC (Assignee), M3-Brigade Acquisition V Corp., and other parties. It transfers all rights and obligations under a prior Letter Agreement from the Assignor to the Assignee. The Acknowledging Parties consent to this transfer and waive any claims related to notice or compliance with the original agreement. The agreement ensures that all other terms of the original contract remain unchanged and effective.

EX-10.4 5 ea024344401ex10-4_m3brigade5.htm ASSIGNMENT AND ASSUMPTION AGREEMENT, DATED AS OF MAY 27, 2025, BY AND AMONG M3-BRIGADE ACQUISITION V CORP., M3-BRIGADE SPONSOR V LLC, AND MI7 SPONSOR, LLC AND OTHER PARTIES THERETO

Exhibit 10.4

 

Execution Version

 

ASSIGNMENT AND ASSUMPTION AGREEMENT

 

This Assignment and Assumption Agreement (this “Assignment and Assumption Agreement”) is made as of May 27, 2025, by and among M3-Brigade Sponsor V LLC, a Delaware limited liability company (“Assignor”), MI7 Sponsor, LLC, a Delaware limited liability company (the “Assignee”), and, solely for the purposes of Section 1.05, herein, the persons set forth on Exhibit I (collectively, the “Acknowledging Parties”).

 

This Assignment and Assumption Agreement is made and entered into pursuant to, and is subject to, the terms of that certain Securities Purchase Agreement, dated as of May 23, 2025 (the “Purchase Agreement”), by and among Assignor, Assignee and M3-Brigade Acquisition V Corp., a Cayman Islands exempted company (the “Company”). Capitalized terms not otherwise defined in this Assignment and Assumption Agreement shall have the meanings given to such terms in the Purchase Agreement.

 

NOW, THEREFORE, in consideration of the foregoing premises, the transactions contemplated by the Purchase Agreement, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged:

 

Section 1.01. (i) The Assignor does hereby grant, bargain, sell, transfer and assign and convey to Assignee all right, title and interest of Assignor in that certain Letter Agreement, dated as of July 31, 2024, by and among the Company, the Assignor and the Acknowledging Parties party thereto (the “Assumed Contract”) free and clear of all Encumbrances and (ii) the Assignee does hereby accept the grant, bargain, sale, transfer and assign and conveyance of the Assumed Contract by the Assignor and agrees to be bound by the terms and provisions therein.

 

Section 1.02. This Assignment and Assumption Agreement is being entered into solely for the benefit of the Assignor and the Assignee, and the parties hereto do not intend that any other person shall be a third-party beneficiary of this Assignment and Assumption Agreement.

 

Section 1.03. Assignor further covenants and agrees that it will at the request of the Assignee deliver or cause to be delivered, at such times and places as shall be reasonably requested, such additional instruments as the Assignee may reasonably request for the purpose of to assure, convey and confirm unto the Assignee, its successors or assigns, full title, right and interest of Assignor in or to the Assumed Contract as the Assignee, its successors or assigns shall reasonably require.

 

Section 1.04. No provisions set forth in this Assignment and Assumption Agreement shall be deemed to enlarge, alter or amend the terms and provisions of the Purchase Agreement. In the event of any conflict between the provisions of this Assignment and Assumption Agreement and the provisions of the Purchase Agreement, the Purchase Agreement shall control.

 

 

 

 

Section 1.05.

 

(a) Notwithstanding anything in the Assumed Contract or in this Assignment and Assumption Agreement to the contrary, each of the Acknowledging Parties does hereby irrevocably (i) consent to the assignment by Assignor, and the assumption by Assignee, of the Assumed Contract in accordance with the terms of this Assignment and Assumption Agreement and (ii) waive and release (X) any and all claims that Assignor or Assignee failed to comply with any notice requirements in the Assumed Contract for the transactions contemplated hereby and (Y) any and all claims that the transactions contemplated by this Assignment and Assumption Agreement violate, breach or otherwise do not comply with the terms of the Assumed Contract.

 

(b) Each of the Assignor, the Assignee and the Acknowledging Parties hereby acknowledges that, except to the extent expressly modified hereby, all terms and conditions of the Assumed Contract shall remain in full force and effect. Further, Each of the Acknowledging Parties hereby confirms and agrees that such Acknowledging Party’s obligations under the Assumed Contract are unimpaired by the transactions contemplated by this Assignment and Assumption Agreement.

 

Section 1.06. Section 8.5 through 8.14 of the Purchase Agreement are herein incorporated by reference, mutatis mutandis.

 

 

 

 

IN WITNESS WHEREOF, the undersigned have executed this Assignment and Assumption Agreement effective as of the date first written above.

 

  ASSIGNEE:
     
  MI7 SPONSOR, LLC
     
  By: /s/ Thomas Boychuk
  Name: Thomas Boychuk
  Title: Chief Financial Officer & Managing Director

 

 

 

 

  ASSIGNOR:
     
  M3-BRIGADE SPONSOR V LLC
   
  By: M3-Brigade Acquisition Partner V Corp., its managing member  
     
  By: /s/ Mohsin Y. Meghji
  Name: Mohsin Y. Meghji  
  Title: Chief Executive Officer

 

 

 

 

  ACKNOWLEDGING PARTIES:
     
  By: /s/ Mohsin Y. Meghji
  Name: Mohsin Y. Meghji
     
  By: /s/ Matthew Perkal
  Name: Matthew Perkal
     
  By: /s/ Chris Chaice
  Name: Chris Chaice
     
  By: /s/ Charles Garner
  Name: Charles Garner
     
  By: /s/ Frederick Arnold
  Name: Frederick Arnold
     
  By: /s/ Benjamin Fader-Rattner 
  Name: Benjamin Fader-Rattner
     
  By: /s/ Eric Greenhaus
  Name: Eric Greenhaus
     
  M3-BRIGADE ACQUISITION V CORP.  
     
  By: /s/ Mohsin Y. Meghji
  Name: Mohsin Y. Meghji
  Title: Executive Chairman  

 

ACKNOWLEDGED AND AGREED:  
     
CANTOR FITZGERALD & CO.  
     
By: /s/ Sage Kelly  
Name: Sage Kelly  
Title: Global Head of Investment Banking  

 

 

 

 

Exhibit I

 

Acknowledging Parties

 

1.Mohsin Y. Meghji
2.Matthew Perkal
3.Chris Chaice
4.Charles Garner
5.Frederick Arnold
6.Benjamin Fader-Rattner
7.Eric Greenhaus
8.M3-Brigade Acquisition V Corp