ZONE · Zone Frontier Inc. · Debt

Verified covenant terms

• 6(a)(ii) · keep its books of account keep its books of account in accordance with international financial reporting standards; 6. Covenants of the Company.
  Full wording and supporting evidence

  Source evidence: (ii) keep its books of account in accordance with international financial reporting standards;

  Target identity evidence: FOR VALUE RECEIVED, CleanCore Global Limited, an Irish corporation (the “Company”), promises to pay to Sanzonate Europe Ltd. (the “Holder”) the principal sum of Eight Hundred Thousand Dollars ($800,000.00) in lawful money of the United States of America, with simple interest payable thereon at the rate of ten percent (10%) per annum.

  Target identity evidence: The following is a statement of the rights of the Holder of this 10% Subordinated Promissory Note (this “Note”) and the terms and conditions to which this Note is subject, and to which the Holder, by acceptance of this Note, agrees:

  Target identity evidence: | US $800,000 | April 15, 2025 |

  Target scope evidence: (a) The Company hereby agrees that, so long as the Note remains outstanding and unpaid, or any other amount is owing to the Holder hereunder, the Company will:

• 5(d) · issues an order declaring any court of competent jurisdiction issues an order declaring the Note or any provision thereunder to be illegal; or 5. Events of Default.
  Full wording and supporting evidence

  Source evidence: (d) any court of competent jurisdiction issues an order declaring the Note or any provision thereunder to be illegal; or

  Target identity evidence: FOR VALUE RECEIVED, CleanCore Global Limited, an Irish corporation (the “Company”), promises to pay to Sanzonate Europe Ltd. (the “Holder”) the principal sum of Eight Hundred Thousand Dollars ($800,000.00) in lawful money of the United States of America, with simple interest payable thereon at the rate of ten percent (10%) per annum.

  Target identity evidence: The following is a statement of the rights of the Holder of this 10% Subordinated Promissory Note (this “Note”) and the terms and conditions to which this Note is subject, and to which the Holder, by acceptance of this Note, agrees:

  Target identity evidence: | US $800,000 | April 15, 2025 |

• 5(a) · default in the payment the Company shall default in the payment of the principal of, or accrued interest on, this Note as and when the same shall become due and payable, whether by acceleration or otherwise; or 5. Events of Default.
  Full wording and supporting evidence

  Source evidence: (a) the Company shall default in the payment of the principal of, or accrued interest on, this Note as and when the same shall become due and payable, whether by acceleration or otherwise; or

  Target identity evidence: FOR VALUE RECEIVED, CleanCore Global Limited, an Irish corporation (the “Company”), promises to pay to Sanzonate Europe Ltd. (the “Holder”) the principal sum of Eight Hundred Thousand Dollars ($800,000.00) in lawful money of the United States of America, with simple interest payable thereon at the rate of ten percent (10%) per annum.

  Target identity evidence: The following is a statement of the rights of the Holder of this 10% Subordinated Promissory Note (this “Note”) and the terms and conditions to which this Note is subject, and to which the Holder, by acceptance of this Note, agrees:

  Target identity evidence: | US $800,000 | April 15, 2025 |

• 7(a) · No payment under the Junior Indebtedness shall be made (a) All claims of the Holder to principal, interest and any other amounts at any time owed under this Note (collectively, the “Junior Indebtedness”) is hereby expressly subordinated in right of payment, as herein set forth, to the prior payment in full of all Senior Indebtedness (as defined below). Springing Trigger: (i) there shall exist any material “Default” or “Event of Default” under any agreements governing any of the Senior Indebtedness or (ii) the maturity of any of the Senior Indebtedness has been accelerated and such acceleration has not been waived or such Senior Indebtedness has not been paid in full Exceptions: provided, however, that (x) in the event that the holder of any Senior Indebtedness accelerates such Senior Indebtedness, then the Holder may accelerate the indebtedness evidenced by this Note, and (y) if the Company is permitted under the terms of the Senior Indebtedness to pay an amount due and owing under this Note and fails to make such payment, then so long as the terms of the Senior Indebtedness do not prohibit such action, the Holder may exercise its rights to be paid such amount, but only such amount (and the Holder shall not be permitted to accelerate hereunder). Defined terms:
  • Junior Indebtedness: collectively, the “Junior Indebtedness”

    Source evidence: All claims of the Holder to principal, interest and any other amounts at any time owed under this Note (collectively, the “Junior Indebtedness”) is hereby expressly subordinated in right of payment, as herein set forth, to the prior payment in full of all Senior Indebtedness (as defined below).

  • Senior Indebtedness: the indebtedness of the Company, in existence on the date hereof and set forth on Schedule 1, attached hereto and made a part hereof

    Source evidence: For purposes hereof, “Senior Indebtedness” shall mean the indebtedness of the Company, in existence on the date hereof and set forth on Schedule 1, attached hereto and made a part hereof.

  7. Subordination.
  Full wording and supporting evidence

  Source evidence: (a) All claims of the Holder to principal, interest and any other amounts at any time owed under this Note (collectively, the “Junior Indebtedness”) is hereby expressly subordinated in right of payment, as herein set forth, to the prior payment in full of all Senior Indebtedness (as defined below). No payment under the Junior Indebtedness shall be made by the Company, nor shall the Holder exercise any remedies under the Junior Indebtedness (including taking any legal action (whether judicial or otherwise) to collect the Junior Indebtedness), if, at the time of such payment, exercise or immediately after giving effect thereto, (i) there shall exist any material “Default” or “Event of Default” under any agreements governing any of the Senior Indebtedness or (ii) the maturity of any of the Senior Indebtedness has been accelerated and such acceleration has not been waived or such Senior Indebtedness has not been paid in full; provided, however, that (x) in the event that the holder of any Senior Indebtedness accelerates such Senior Indebtedness, then the Holder may accelerate the indebtedness evidenced by this Note, and (y) if the Company is permitted under the terms of the Senior Indebtedness to pay an amount due and owing under this Note and fails to make such payment, then so long as the terms of the Senior Indebtedness do not prohibit such action, the Holder may exercise its rights to be paid such amount, but only such amount (and the Holder shall not be permitted to accelerate hereunder).

  Target identity evidence: FOR VALUE RECEIVED, CleanCore Global Limited, an Irish corporation (the “Company”), promises to pay to Sanzonate Europe Ltd. (the “Holder”) the principal sum of Eight Hundred Thousand Dollars ($800,000.00) in lawful money of the United States of America, with simple interest payable thereon at the rate of ten percent (10%) per annum.

  Target identity evidence: The following is a statement of the rights of the Holder of this 10% Subordinated Promissory Note (this “Note”) and the terms and conditions to which this Note is subject, and to which the Holder, by acceptance of this Note, agrees:

  Target identity evidence: | US $800,000 | April 15, 2025 |

  Target scope evidence: All claims of the Holder to principal, interest and any other amounts at any time owed under this Note (collectively, the “Junior Indebtedness”) is hereby expressly subordinated in right of payment, as herein set forth, to the prior payment in full of all Senior Indebtedness (as defined below).

• 6(a)(iv) · comply with the Certificate of Incorporation and Constitution comply with the Certificate of Incorporation and Constitution or other organizational or governing documents of the Company, and any law, treaty, rule or regulation, or determination of an arbitrator or a court or other governmental authority, in each case applicable to or binding upon the Company or any of its property or to which each of the Company or any of its properties is subject; and 6. Covenants of the Company.
  Full wording and supporting evidence

  Source evidence: (iv) comply with the Certificate of Incorporation and Constitution or other organizational or governing documents of the Company, and any law, treaty, rule or regulation, or determination of an arbitrator or a court or other governmental authority, in each case applicable to or binding upon the Company or any of its property or to which each of the Company or any of its properties is subject; and

  Target identity evidence: FOR VALUE RECEIVED, CleanCore Global Limited, an Irish corporation (the “Company”), promises to pay to Sanzonate Europe Ltd. (the “Holder”) the principal sum of Eight Hundred Thousand Dollars ($800,000.00) in lawful money of the United States of America, with simple interest payable thereon at the rate of ten percent (10%) per annum.

  Target identity evidence: The following is a statement of the rights of the Holder of this 10% Subordinated Promissory Note (this “Note”) and the terms and conditions to which this Note is subject, and to which the Holder, by acceptance of this Note, agrees:

  Target identity evidence: | US $800,000 | April 15, 2025 |

  Target scope evidence: (a) The Company hereby agrees that, so long as the Note remains outstanding and unpaid, or any other amount is owing to the Holder hereunder, the Company will:

• 6(a)(v) · duly pay and discharge all taxes duly pay and discharge all taxes or other claims which might become a lien upon any of its property except to the extent that any thereof are being in good faith appropriately contested with adequate reserves provided therefore. Exceptions: except to the extent that any thereof are being in good faith appropriately contested with adequate reserves provided therefore 6. Covenants of the Company.
  Full wording and supporting evidence

  Source evidence: (v) duly pay and discharge all taxes or other claims which might become a lien upon any of its property except to the extent that any thereof are being in good faith appropriately contested with adequate reserves provided therefore.

  Target identity evidence: FOR VALUE RECEIVED, CleanCore Global Limited, an Irish corporation (the “Company”), promises to pay to Sanzonate Europe Ltd. (the “Holder”) the principal sum of Eight Hundred Thousand Dollars ($800,000.00) in lawful money of the United States of America, with simple interest payable thereon at the rate of ten percent (10%) per annum.

  Target identity evidence: The following is a statement of the rights of the Holder of this 10% Subordinated Promissory Note (this “Note”) and the terms and conditions to which this Note is subject, and to which the Holder, by acceptance of this Note, agrees:

  Target identity evidence: | US $800,000 | April 15, 2025 |

  Target scope evidence: (a) The Company hereby agrees that, so long as the Note remains outstanding and unpaid, or any other amount is owing to the Holder hereunder, the Company will:

• 6(a)(iii) · maintain insurance maintain insurance with responsible and reputable insurance companies or associations, as determined by the Company in its sole but reasonable discretion, in such amounts and covering such risks as is usually carried by companies engaged in similar businesses and owning similar properties in the same general areas in which the Company operates; 6. Covenants of the Company.
  Full wording and supporting evidence

  Source evidence: (iii) maintain insurance with responsible and reputable insurance companies or associations, as determined by the Company in its sole but reasonable discretion, in such amounts and covering such risks as is usually carried by companies engaged in similar businesses and owning similar properties in the same general areas in which the Company operates;

  Target identity evidence: FOR VALUE RECEIVED, CleanCore Global Limited, an Irish corporation (the “Company”), promises to pay to Sanzonate Europe Ltd. (the “Holder”) the principal sum of Eight Hundred Thousand Dollars ($800,000.00) in lawful money of the United States of America, with simple interest payable thereon at the rate of ten percent (10%) per annum.

  Target identity evidence: The following is a statement of the rights of the Holder of this 10% Subordinated Promissory Note (this “Note”) and the terms and conditions to which this Note is subject, and to which the Holder, by acceptance of this Note, agrees:

  Target identity evidence: | US $800,000 | April 15, 2025 |

  Target scope evidence: (a) The Company hereby agrees that, so long as the Note remains outstanding and unpaid, or any other amount is owing to the Holder hereunder, the Company will:

• 6(a)(i) · preserve its corporate existence take the necessary steps to preserve its corporate existence and its right to conduct business in all jurisdictions in which the nature of its business requires qualification to do business; 6. Covenants of the Company.
  Full wording and supporting evidence

  Source evidence: (i) take the necessary steps to preserve its corporate existence and its right to conduct business in all jurisdictions in which the nature of its business requires qualification to do business;

  Target identity evidence: FOR VALUE RECEIVED, CleanCore Global Limited, an Irish corporation (the “Company”), promises to pay to Sanzonate Europe Ltd. (the “Holder”) the principal sum of Eight Hundred Thousand Dollars ($800,000.00) in lawful money of the United States of America, with simple interest payable thereon at the rate of ten percent (10%) per annum.

  Target identity evidence: The following is a statement of the rights of the Holder of this 10% Subordinated Promissory Note (this “Note”) and the terms and conditions to which this Note is subject, and to which the Holder, by acceptance of this Note, agrees:

  Target identity evidence: | US $800,000 | April 15, 2025 |

  Target scope evidence: (a) The Company hereby agrees that, so long as the Note remains outstanding and unpaid, or any other amount is owing to the Holder hereunder, the Company will:

• 6(b) · execute and deliver any and all such further documents The Company shall execute and deliver any and all such further documents and take any and all such other actions as may be reasonably necessary or appropriate to carry out the intent and purposes of this Note and to consummate the transactions contemplated herein. 6. Covenants of the Company.
  Full wording and supporting evidence

  Source evidence: (b) The Company shall execute and deliver any and all such further documents and take any and all such other actions as may be reasonably necessary or appropriate to carry out the intent and purposes of this Note and to consummate the transactions contemplated herein.

  Target identity evidence: FOR VALUE RECEIVED, CleanCore Global Limited, an Irish corporation (the “Company”), promises to pay to Sanzonate Europe Ltd. (the “Holder”) the principal sum of Eight Hundred Thousand Dollars ($800,000.00) in lawful money of the United States of America, with simple interest payable thereon at the rate of ten percent (10%) per annum.

  Target identity evidence: The following is a statement of the rights of the Holder of this 10% Subordinated Promissory Note (this “Note”) and the terms and conditions to which this Note is subject, and to which the Holder, by acceptance of this Note, agrees:

  Target identity evidence: | US $800,000 | April 15, 2025 |