2.5. In the event of non-payment of the overdue Loan Amount, the actual guarantor, after receiving the Guarantee Notice, shall take all necessary measures, subject the legal period provided by law, to approve foreclosure on the collateral related to the Secured Obligations granted hereunder, subject to the provisions of Section Three below.
2.6. Notwithstanding the foregoing, once the full payment of the Loan Amount and the Principal Inflation Adjustment has been made, the Secured Obligations will be released in any event.
2.7. Any and all costs, expenses, fees and/or taxes on or for the entries and registrations provided for herein shall be solely and exclusively borne by the Borrower.
2.8. Until full compliance with all the Secured Obligations, the First Guarantor and/or the Second Guarantor (as applicable) undertake(s) not to dispose of, sell, commit to selling, assign, transfer, lend, lease, contribute to the capital, place any encumbrance, lien or collateral on (except for those already existing) or otherwise dispose of, directly or indirectly, free of charge or for consideration, on all or any part of the Nuvini Shares or Mercos Shares owned thereby that are subject to the Secured Obligations without the prior, express and written consent of the Lender.
SECTION THREE - EVENTS OF ACCELERATION AND FORECLOSURE ON GUARANTEE
3.1. In addition to the cases provided by law, the Loan will be accelerated, and the Lender may demand the immediate payment by the Borrower of the Loan Amount, in any of the following events (“Acceleration”):
a) in relation to the Borrower: (a) declaration of bankruptcy; (b) voluntary filing for bankruptcy; (c) petition for court-supervised or out-of-court reorganization, regardless of whether the relevant request is granted; and (d) liquidation, dissolution or termination; and
b) noncompliance, by the Borrower, with any obligation arising under this Instrument and that is not clarified and cured within no more than thirty (30) calendar days, unless a specific cure period is stipulated in this Instrument.
3.2. The Lender may not declare, at its sole discretion, the Acceleration of this Loan, for the events indicated in the items above, in which case the Loan will be regularly maintained. However, if (i) the Lender declares Acceleration or, alternatively, (ii), on the Loan Maturity Date, the Company does not make payment as set forth in this Loan, then the Lender shall notify the Borrower, within a period of sixty (60) calendar days, to make the payment in cash, plus the Principal Inflation Adjustment, net of any withholding taxes, subject to the stipulations contained herein.
3.3. In the event of Acceleration or, alternatively, in the event of default by the Company as provided in item (ii) of Section 3.2 above, the Lender, acting either directly or through any of its attorneys or any service providers retained thereby, may foreclose on the collaterals related to the Secured Obligations, subject to the provisions of this Section Three.
SECTION FOUR - EQUITY KICKER SALE
4.1. Completion of the Flip and Opening of Nuvini Inc. Between the execution date of this Loan and the date of completion of the Flip, the Nuvini Inc. Shareholders may undergo changes due to the exercise of equity interest rights in the Company or in Nuvini Inc. The Flip will be conducted through a corporate reorganization that may involve the creation of a Newco, Nuvini Inc. (a new foreign company to be organized in accordance with the laws of the United States of America and the State of Delaware and/or the Cayman Islands or any other jurisdiction to be determined by the Company), which, subject to certain conditions set forth in this Agreement, will become the holder of all of the Company’s shares.
4.2. Transfer and Registration of Nuvini Inc. to Lender. As provided for in this Loan, as a form of enabling the Nuvini Inc. Shares to be delivered to the Lender, the Company shall submit to the Lender copies of the incorporation documents of Newco (Nuvini Inc.) before the Flip is carried out. Once Nuvini Inc.’s incorporation documents have been submitted, the Nuvini Inc. Shareholders shall deliver the Equity Kicker to the Lender in proportion to their interest in Nuvini Inc.’s capital stock, considering the Lender’s Equity Kicker and the Equity Kicker Valuation, transferring and delivering to the Lender as many Shares in Nuvini Inc. held thereby as necessary, by signing the relevant applicable instruments, considering the Equity Kicker Valuation.
Ex. 10.30-5