REVOLVING LINE OF CREDIT AGREEMENTRevolving Line of Credit Agreement • May 15th, 2017 • Jerrick Media Holdings, Inc. • Services-allied to motion picture production • New Jersey
This Revolving Line of Credit Agreement (the “Agreement”) is made and entered into this 9th day of May, 2017 (the “Effective Date”), by and between Grawin, LLC., a New York, Limited Liability Company (the “Lender”), and Jerrick Media Holdings, Inc., a Nevada (“Borrower”).
Assignment and Assumption AgreementAssignment and Assumption Agreement • May 15th, 2017 • Jerrick Media Holdings, Inc. • Services-allied to motion picture production
This Assignment and Assumption Agreement (the “Assignment and Assumption Agreement”) is made and entered into as of May 12, 2017, by and among Jerrick Ventures, LLC, a Nevada limited liability company (the “Assignor”), Jerrick Media Holdings, Inc., a Nevada corporation and sole shareholder of Assignor (the “Parent”) and Jeremy Frommer, an individual (the “Assignee”). Each of Assignee, Parent and Assignor is a “Party” and are together, the “Parties”.
REVOLVING LINE OF CREDIT NOTEJerrick Media Holdings, Inc. • May 15th, 2017 • Services-allied to motion picture production • New Jersey
FOR VALUE RECEIVED, Jerrick Media Holdings, Inc., a Nevada corporation (“Borrower”) promises to pay to Grawin LLC., a New York limited liability company (the “Lender”), or to order, the principal sum of One Hundred Thirty Thousand Dollars ($130,000) or the aggregate unpaid principal amount of all advances made by Lender to Borrower pursuant to the terms of a Revolving Line of Credit Agreement (the “Loan Agreement”) of even date herewith, whichever is less, together with interest thereon from the date each advance is made until paid in full, at an interest rate of eighteen percent (18%) simple interest per annum (the “Interest Rate”). Interest will be calculated on a basis of a 360-day year and charged for the actual number of days elapsed.
