EXHIBIT B LOAN TERM SHEET
Exhibit 10.9
EXHIBIT B
LOAN TERM SHEET
The following loan agreement dated October 29th, 2021 incorporates all of the terms of the Master Digital Currency Loan Agreement entered into by Argo Innovation Labs Inc. (“Borrower”) and GALAXY DIGITAL LLC (“Galaxy”) on June 16th, 2021 and the following specific terms:
| Borrower: | Argo Innovation Labs Inc. |
| Lender: | GALAXY DIGITAL LLC |
| Digital Currency: | USD |
| Amount: | $20,000,000 |
| Borrow Fee Per Annum: | 11.5% |
| Loan Type: | Open/Callable |
| Loan Term: | N/A |
| Initial Collateral Level: | 140% |
| Type Collateral: | BTC |
| Margin Call Rate: | 130% |
| Urgent Call Rate: | 125% |
| Loan Effective Date: | October 29th, 2021 |
| Recall Delivery Date: | The third (3rd) Business Day from the Recall Request Day |
| Argo Innovation Labs Inc. | GALAXY DIGITAL LLC | |||
| By: | /s/ Xxxxx Xxxx | By: | /s/ Xxx XxXxxxx | |
| Name: | Xxxxx Xxxx | Name: | Xxx XxXxxxx | |
| Title: | Title: | |||
| 1 |
