Common use of Deliveries Upon Execution Clause in Contracts

Deliveries Upon Execution. (a) Simultaneously with the execution and delivery of this amended and restated Agreement by the parties hereto, deliver to Lender: (i) the Note; (ii) an amended and restated pledge agreement from the Company, pledging 54,000,000 shares of Oceanica stock (the “Pledged Oceanica Shares”) and any receivables due from Oceanica and its Subsidiaries, to secure repayment of the Note, in the form of Exhibit B hereto (the “A&R OME Pledge Agreement”); (iii) an amended and restated pledge agreement from (A) Marine Exploration Holdings, LLC, a Nevada limited liability company (“MEH”, and together with the Company, the “Intermediate Holdcos”), pledging all of the outstanding equity in the Company, and any receivables due from Oceanica and its Subsidiaries and (B) Parent, pledging all of the outstanding equity in MEH and any receivables due from Oceanica and its Subsidiaries, to secure repayment of the Note, in the form of Exhibit C hereto (the “A&R MEH-Parent Pledge Agreement”, and together with the A&R OME Pledge Agreement, the “Pledge Agreements”); (iv) an Amended and Restated Registration Rights Agreement in the form of Exhibit D hereto; (v) a Warrant to Purchase Common Stock in the form of Exhibit E hereto; (vi) customary secretary’s certificates attaching authorizing resolutions, charter documents and incumbency information relating to the Company, in form and substance reasonably satisfactory to the Lender; and (vii) all other instruments and certificates that the Parent or the Company is required to deliver pursuant to the terms of this Agreement or the other Transaction Documents. (b) Simultaneously with the execution and delivery of this Agreement by the parties hereto, the Lender shall deliver all instruments and certificates that the Lender is required to deliver pursuant to the terms of this Agreement.

Deliveries Upon Execution. (a) Simultaneously with the execution and delivery of this amended and restated Agreement by the parties hereto, deliver to Lender: (i) the Note; (ii) an a second amended and restated pledge agreement from the Company, pledging 54,000,000 shares of Oceanica stock (the “Pledged Oceanica Shares”) and any receivables due from Oceanica and its Subsidiaries, to secure repayment of the Note, in the form of Exhibit B hereto (the “Second A&R OME Pledge Agreement”); (iii) an a second amended and restated pledge agreement from (A) Marine Exploration Holdings, LLC, a Nevada limited liability company (“MEH”, and together with the Company, the “Intermediate Holdcos”), pledging all of the outstanding equity in the Company, and any receivables due from Oceanica and its Subsidiaries and (B) Parent, pledging all of the outstanding equity in MEH and any receivables due from Oceanica and its Subsidiaries, to secure repayment of the Note, in the form of Exhibit C hereto (the “Second A&R MEH-Parent Pledge Agreement”, and together with the Second A&R OME Pledge Agreement, the “Pledge Agreements”); (iv) an Amended and Restated a Second A&R Registration Rights Agreement in the form of Exhibit D hereto; (v) a Warrant to Purchase Common Stock in the form of Exhibit E hereto; (vi) customary secretary’s certificates attaching authorizing resolutions, including resolutions in the form of Exhibit F hereto, charter documents documents, including an amendment to the Bylaws of the Parent in the form of Exhibit E hereto, and incumbency information relating to the Company, in form and substance reasonably satisfactory to the Lender; and (viivi) all other instruments and certificates that the Parent or the Company is required to deliver pursuant to the terms of this Agreement or the other Transaction Documents. (b) Simultaneously with the execution and delivery of this Agreement by the parties hereto, the Lender shall deliver all instruments and certificates that the Lender is required to deliver pursuant to the terms of this Agreement.