0000022701-25-000002 Sample Contracts
PLEDGE AND SECURITY AGREEMENTPledge and Security Agreement • April 15th, 2025 • SUNation Energy, Inc. • Telephone & telegraph apparatus • New York
THIS PLEDGE AND SECURITY AGREEMENT dated as of April 10, 2025 (the “Pledge Agreement”) is made by SUNATION ENERGY, INC. (f/k/a Pineapple Energy Inc.), a Delaware corporation (“Pledgor”), in favor of Scott Maskin, a resident of the State of New York (“Maskin”), and James Brennan, a resident of the State of Florida (“Brennan” and, together with Maskin, collectively, the “Secured Parties”) and Scott Maskin, in his capacity of Seller Representative.
SENIOR SECURED CONTINGENT NOTE INSTRUMENTSenior Secured Contingent Note Instrument • April 15th, 2025 • SUNation Energy, Inc. • Telephone & telegraph apparatus • New York
FOR VALUE RECEIVED, subject to the satisfaction of the Conditions and solely contingent on such satisfaction, SUNation Energy, Inc. (f/k/a Pineapple Energy Inc.), a Delaware corporation (“Maker”), hereby promises to pay to the order of Scott Maskin, a resident of the State of New York (“Maskin”), and James Brennan, a resident of the State of Florida (“Brennan” and, together with Maskin, the “Holders”), at such place as Holders may, from time to time, specify in writing, the Relevant Note Amount (as hereinafter defined) in the aggregate, payable to each Holder pursuant to their Pro Rata Share as set forth on Exhibit A hereto, as provided under the terms of this contingent note instrument (this “Note”).
SUBORDINATION AND INTERCREDITOR AGREEMENTSubordination and Intercreditor Agreement • April 15th, 2025 • SUNation Energy, Inc. • Telephone & telegraph apparatus • New York
THIS SUBORDINATION AND INTERCREDITOR AGREEMENT, dated as of April 10, 2025 (as from time to time amended, restated, supplemented or otherwise modified from time to time in accordance with the terms hereof, this “Agreement”), is made and entered into by and among (i) Scott Maskin, a resident of the State of New York (“Maskin”), (ii) James Brennan, a resident of the State of Florida (“Brennan” and, together with Maskin, the “Senior Creditors”), and (iii) MBB Energy, LLC, a New York limited liability company (the “Subordinated Creditor”), and is acknowledged and agreed to by SUNation Energy, Inc. (f/k/a Pineapple Energy Inc.), a Delaware corporation (the “Company”).