HUDSON BAY MASTER FUND LTD. c/o Hudson Bay Capital Management LP 777 Third Avenue, 30th Floor New York, New York 10017Forbearance Agreement • August 22nd, 2017 • Great Basin Scientific, Inc. • Surgical & medical instruments & apparatus • New York
On August 16, 2017, the Holder delivered an Event of Default Redemption Notice (the "August Redemption Notice") in accordance with the terms of Section 4(b) of the Note. The August Redemption Notice provided, among other things, and without limiting any right the Holder may have with respect to other Events of Default, defaults or breaches by the Company under the Documents (as defined below), that the Company admitted in writing, in (i) the Form 12b-25, Notification of Late Filing, dated August 15, 2017, filed with the United States Securities and Exchange Commission, and (ii) an email attached to the August Redemption Notice as Exhibit A, that it is generally unable to pay its debts as they become due, which constitutes an Event of Default as set forth in Section 4(a)(vi)(E) of the Note (the "Specified Event of Default"). As used herein, "Documents" means (i) the Note, (ii) that certain Securities Purchase Agreement dated as of December 28, 2015 by and among the Company, the Holder a
