LOAN AGREEMENTLoan Agreement • April 25th, 2022 • Kronos Advanced Technologies Inc • Industrial & commercial fans & blowers & air purifing equip • West Virginia
THIS LOAN AGREEMENT (“Agreement”) is made and entered into this 7th day of April, 2022, by and among WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY, a West Virginia public corporation (“WVEDA”), KRONOS ADVANCED TECHNOLOGIES, INC., a Nevada corporation (“KAT”) and KRONOS ADVANCED TECHNOLOGIES WV, INC., a West Virginia corporation (“KATWV” and together with KAT, the “Borrowers”).
SECURITY AGREEMENTSecurity Agreement • April 25th, 2022 • Kronos Advanced Technologies Inc • Industrial & commercial fans & blowers & air purifing equip • West Virginia
This Security Agreement is made and entered into this 7th day of April, 2022, by and between KRONOS ADVANCED TECHNOLOGIES WV, INC., a West Virginia corporation (“Debtor) and WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY, a West Virginia public corporation (“Secured Party”). Capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in the Loan Agreement (as hereinafter defined). Debtor and Secured Party agree as follows:
AGREEMENT OF CONVEYANCE, TRANSFER, ASSIGNMENT OF ASSET, ASSUMPTION OF OBLIGATIONS AND SPIN OFFAgreement • April 25th, 2022 • Kronos Advanced Technologies Inc • Industrial & commercial fans & blowers & air purifing equip • Nevada
This Agreement of Conveyance, Transfer and Assignment of Asset, Assumption of Obligations and Spin off (“Transfer and Assumption Agreement”) is made as of April 2, 2021, by Kronos Advanced Technologies, Inc., a Nevada corporation (“Assignor”) and DogeSPAC, LLC., a Puerto Rico Limited Liability Company (“Assignee”), collectively, (“The Parties.”)
PROMISSORY NOTE (EQUIPMENT LOAN)Promissory Note • April 25th, 2022 • Kronos Advanced Technologies Inc • Industrial & commercial fans & blowers & air purifing equip
FOR VALUE RECEIVED, the undersigned KRONOS ADVANCED TECHNOLOGIES, INC., a Nevada corporation (“KAT”) and KRONOS ADVANCED TECHNOLOGIES WV, INC., a West Virginia corporation (KATWV and together with KAT, the “Borrowers”), hereby promise to pay to the order of WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY, the sum of Seven Hundred Sixty Five Thousand and 00/100 Dollars ($765,000.00) over a term of one hundred twenty (120) months, with interest from the date hereof at the rate of two and seventy five one hundredths percent (2.75%) per annum on the unpaid principal, in lawful money of the United States, at office of the WVEDA, NorthGate Business Park, 180 Association Drive, Charleston West Virginia, 25311-1217, or at such other location as may be subsequently designated by holder hereof, as follows:
PROMISSORY NOTE (REAL ESTATE LOAN)Kronos Advanced Technologies Inc • April 25th, 2022 • Industrial & commercial fans & blowers & air purifing equip
FOR VALUE RECEIVED, the undersigned KRONOS ADVANCED TECHNOLOGIES, INC., a Nevada corporation (“KAT”) and KRONOS ADVANCED TECHNOLOGIES WV, INC., a West Virginia corporation (KATWV and together with KAT, the “Borrowers”), hereby promise to pay to the order of WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY, the sum of One Million Eight Hundred Forty Five Thousand and 00/100 Dollars ($1,845,000.00) over a term of one hundred eighty (180) months, with interest at the rate of three and thirty-nine one hundredths percent (3.390%) per annum on the unpaid principal balance from the date hereof through and including the 59th month after the date hereof. The interest rate shall adjust in the 60th month, on April 7, 2027, and in the 120th month, on April 7, 2032, and shall be equal to the greater of (i) the rate from the third previous business day of the 20-year U.S. Treasury Security (as such rate is stated in the daily Treasury Yield Curve Rates section of the U.S. Treasury official website www.u
Confirmation of Consent to Amend and Waive Certain Provisions of the Registration Rights Agreement Between Dutchess Capital Growth Fund, LP and Kronos Advanced Technologies, Inc.Kronos Advanced Technologies Inc • April 25th, 2022 • Industrial & commercial fans & blowers & air purifing equip
Dutchess Capital Growth Fund, LP (“Dutchess”) and Kronos Advanced Technologies, Inc. (“Kronos”) (the, “Agreement”) hereby confirm and amend the Registration Rights Agreement between them entered into to September 21, 2021 (“Registration Rights Agreement”). Kronos and Dutchess may be referred to as a “Party” or collectively as the “Parties.”
