SECURITY AGREEMENTSecurity Agreement • August 16th, 2010 • Balqon Corp. • Industrial trucks, tractors, trailors & stackers • California
THIS SECURITY AGREEMENT (this “Agreement”), is among Balqon Corporation, a Nevada corporation (the “Company”), the holders of the Company’s 10% Senior Secured Subordinated Convertible Debentures due September 30, 2012 (collectively, the “Debentures”) each a signatory hereto whether by execution of this Agreement or Annex A to this Agreement, their endorsees, transferees and assigns (collectively, the “Secured Parties”), and Citizens Business Bank, as collateral agent, effective as of the date this Agreement is executed by the Company (the “Effective Date”) as evidenced by the date affixed to the signature pages annexed hereto.
COMMON STOCK PURCHASE WARRANT BALQON CORPORATIONCommon Stock Purchase Warrant • August 16th, 2010 • Balqon Corp. • Industrial trucks, tractors, trailors & stackers
THIS COMMON STOCK PURCHASE WARRANT (“Warrant”) certifies that, for value received, _____________________ (“Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date hereof (the “Initial Exercise Date”) and on or prior to the close of business on September 30, 2015 (the “Termination Date”) but not thereafter, to subscribe for and purchase from Balqon Corporation, a Nevada corporation (the “Company”), up to _______ (______) shares (the “Warrant Shares”) of Common Stock. The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).
COMMON STOCK PLACEMENT WARRANT BALQON CORPORATIONCommon Stock Purchase • August 16th, 2010 • Balqon Corp. • Industrial trucks, tractors, trailors & stackers
THIS COMMON STOCK PURCHASE WARRANT (“Warrant”) certifies that, for value received pursuant to the terms of the Placement Agency Agreement between Balqon Corporation, a Nevada corporation (the “Company”), and Dominick and Dominick LLC, _____________________ (“Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date hereof (the “Initial Exercise Date”) and on or prior to the close of business on September 30, 2015 (the “Termination Date”) but not thereafter, to subscribe for and purchase from the Company, up to _______ (_____) shares (the “Warrant Shares”) of Common Stock. The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).
ContractSecurity Agreement • August 16th, 2010 • Balqon Corp. • Industrial trucks, tractors, trailors & stackers • California
THIS INSTRUMENT IS SUBJECT TO THE TERMS OF A SUBORDINATION AGREEMENT, DATED JULY 29, 2010, IN FAVOR OF BRIDGE BANK, AS A SENIOR LENDER, WHICH SUBORDINATION AGREEMENT IS INCORPORATED HEREIN BY REFERENCE AND A COPY OF WHICH MAY BE OBTAINED FROM THE COMPANY’S PRINCIPAL BUSINESS OFFICE.
