AIC, LLC AND CONSORTEUM HOLDINGS, INC.Consorteum Holdings, Inc. • February 19th, 2013 • Communications equipment, nec
This Term Sheet (“Term Sheet”) summarizes the principal terms of a loan (the “Loan”), a bridge loan (the “Bridge Loan”) and an investment (the “Investment”) by AIC, a Georgia limited liability company as, respectively, the Lender, the Bridge Lender and the Investor in CHI, a Nevada corporation. The Loan, the Bridge Loan and the Investment are referred to together as the “Transaction.” In consideration of the time and expense devoted and to be devoted by AIC and CHI to the Transaction, the terms set forth below in this Term Sheet shall be binding obligations of AIC and CHI. The parties shall use good faith to negotiate and conclude definitive agreements with respect to the Transaction as quickly as possible and, in any case, in accordance with the schedule for the execution of definitive agreements for each portion of the Transaction as specified below. This Term Sheet shall be governed in all respects by the laws of the State of Nevada.
