DEBT CONVERSION & RELEASE AGREEMENTDebt Conversion & Release Agreement • April 5th, 2022 • Hylete, Inc. • Apparel & other finishd prods of fabrics & similar matl • California
THIS DEBT CONVERSION & RELEASE AGREEMENT (the “Agreement”) is entered into and effective on April 1, 2022 (“Effective Date”) by and between HYLETE, INC., a Delaware corporation (“Company”) on the one hand, and BLACK OAK-HYLETE-SENIOR DEBT, LLC (“First Lender”), BOCM3-HYLETE-SENIOR DEBT, LLC (“Second Lender”), BLACK OAK-HYLETE-SENIOR DEBT 2, LLC (“Third Lender”), BOCM3-HYLETE-SENIOR DEBT 2, LLC (“Fourth Lender”), BLACK OAK α EQUITY FUND, LLC (“Fifth Lender”), and BLACK OAK-HYLETE-SENIOR DEBT 3, LLC (“Sixth Lender”), all Utah limited liability companies (First Lender through Sixth Lender, collectively, the “Black Oak Lenders”) on the other hand. Company and the Black Oak Lenders may be referred to herein individually as a “Party” and together as the “Parties”.
