Common use of Option Exercise Notice Clause in Contracts

Option Exercise Notice. 11/14/2017 (by electronic mail and first-class post) 54 Sound Studio ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Associates, P.C. ▇▇▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇ Attention: ▇▇▇▇ ▇▇▇▇▇▇▇▇▇, Esq. Dear ▇▇. ▇▇▇▇▇▇, Reference is made to that certain Amended and Restated Option Agreement (the “Agreement”) made the 13th day of November, 2017, by and among Royalty Exchange Inc., F.B.T. Productions LLC (“FBT”) and Em2M LLC (“Em2M”). Section references and capitalized terms herein have such meanings as in the Agreement. Pursuant to and in satisfaction of Section 5(a), we are pleased to formally provide notice that we are exercising the 25% Option. We have attached the current draft Proposed Agreement pursuant to Section 5(b), and look forward to promptly finalizing the agreement and closing on the Acquired Interest. We would suggest a call today or tomorrow to finalize the Proposed Agreement and schedule closing. Best regards, /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Encl: Proposed Agreement cc: ▇. ▇▇▇▇▇▇▇▇▇; ▇. ▇▇▇▇▇▇▇▇; ▇. ▇▇▇▇▇▇▇▇▇ [Closing Date] Reference is made to that certain Purchase Agreement (the “Agreement”) made the [●] day of November, 2017, by and among Royalty Exchange Inc. and F.B.T. Productions LLC (“FBT”) and Em2M LLC (“Em2M”) (each, a “Seller” and, collectively, “Sellers”). Section references in this certificate refer to the Agreement. In connection with the Closing (as defined in the Agreement) and pursuant to and in satisfaction of Section 2(e)(ii), Sellers hereby confirm (a) the representations and warrantees in Section 3 are true and correct as of the date hereof (unless such representations and warrantees specifically relate to a prior date, in which case they are true and correct as of such date) and (b) Sellers remain in compliance with their covenants in Section 4 as of the date hereof. Kind regards,