Common use of Financing Commitment Clause in Contracts

Financing Commitment. The Lender agrees to provide to Borrower a minimum of £1,700,000 (GBP) in loans (equivalent to approximately US$1,940,000 at the date of this agreement), in one or more tranches commencing within the month of June of 2018. Each loan (“Tranche”) shall be evidenced by a “Convertible Note” in the amount of such Tranche, bearing interest at the rate of 6% per annum, payable semi-annually. Each “Convertible Note” shall be due and payable on the 366th calendar day following receipt by the Borrower of each Tranche (“Maturity Date”). On each Maturity Date, the outstanding Convertible Notes shall be automatically converted into shares of Borrower’s common stock at a conversion price equal to the greater of US$0.02 or the average closing price of Borrower’s common stock on the Over-the-Counter Bulletin Board for the prior 60 trading days. Attached hereto as Exhibit “A” and incorporated herein by reference is a copy of the form of “Convertible Note” that will be issued hereunder. In the event of any discrepancy between this Agreement and the “Convertible Notes”, the terms and conditions of the Convertible Notes shall control.

Financing Commitment. The Lender agrees to provide to Borrower a minimum of up to £1,700,000 2,000,000 (GBP) in loans (equivalent to approximately US$1,940,000 2,700,000 at the date of this agreement), in one or more tranches commencing within at the month of June of 2018lenders discretion. Each loan (“Tranche”) shall be evidenced by a “Convertible Note” in the amount of such Tranche, bearing interest at the rate of 6% per annum, payable semi-annually. Each “Convertible Note” shall be due and payable on the 366th calendar day following receipt by the Borrower of each Tranche (“Maturity Date”). On each Maturity Date, the outstanding Convertible Notes shall be automatically converted into shares of Borrower’s common stock at a conversion price equal to the greater of US$0.02 or the average closing price of Borrower’s common stock on the Over-the-Counter Bulletin Board for the prior 60 trading days. Attached hereto as Exhibit “A” and incorporated herein by reference is a copy of the form of “Convertible Note” that will be issued hereunder. In the event of any discrepancy between this Agreement and the “Convertible Notes”, the terms and conditions of the Convertible Notes shall control.

Financing Commitment. The Lender agrees to provide to Borrower a minimum of £1,700,000 2,000,000 (GBP) in loans (equivalent to approximately US$1,940,000 2,678,000 at the date of this agreement), in one or more tranches commencing within the month of June of January 2018. Each loan (“Tranche”) shall be evidenced by a “Convertible Note” in the amount of such Tranche, bearing interest at the rate of 6% per annum, payable semi-annually. Each “Convertible Note” shall be due and payable on the 366th calendar day following receipt by the Borrower of each Tranche (“Maturity Date”). On each Maturity Date, the outstanding Convertible Notes shall be automatically converted into shares of Borrower’s common stock at a conversion price equal to the greater of US$0.02 or the average closing price of Borrower’s common stock on the Over-the-Counter Bulletin Board for the prior 60 trading days. Attached hereto as Exhibit “A” and incorporated herein by reference is a copy of the form of “Convertible Note” that will be issued hereunder. In the event of any discrepancy between this Agreement and the “Convertible Notes”, the terms and conditions of the Convertible Notes shall control.

Financing Commitment. The Lender agrees to provide to Borrower a minimum of £1,700,000 2,000,000 (GBP) in loans (equivalent to approximately US$1,940,000 2,636,000 at the date of this agreement), in one or more tranches commencing within the month first week of June of 2018December 2017. Each loan (“Tranche”) shall be evidenced by a “Convertible Note” in the amount of such Tranche, bearing interest at the rate of 6% per annum, payable semi-annually. Each “Convertible Note” shall be due and payable on the 366th calendar day following receipt by the Borrower of each Tranche (“Maturity Date”). On each Maturity Date, the outstanding Convertible Notes shall be automatically converted into shares of Borrower’s common stock at a conversion price equal to the greater of US$0.02 or the average closing price of Borrower’s common stock on the Over-the-Counter Bulletin Board for the prior 60 trading days. Attached hereto as Exhibit “A” and incorporated herein by reference is a copy of the form of “Convertible Note” that will be issued hereunder. In the event of any discrepancy between this Agreement and the “Convertible Notes”, the terms and conditions of the Convertible Notes shall control.. 1 | P a g e