Loan Agreement
GREENPOWER MOTOR Co INC.
LOAN AGREEMENT
THIS LOAN AGREEMENT (this "Agreement") is dated effective as of the 14th day of May, 2025.
BETWEEN:
COUNTRYMAN INVESTMENTS LIMITED, a corporation having an address at #
(Email: #)
(the "Lender")
AND:
GREENPOWER MOTOR COMPANY INC., a corporation having an address at
#
(Email: #)
(the "Borrower")
WHEREAS:
A. The Borrower intends to borrow up to $2,000,000 USD in tranches from several lenders (the "Loan Facility") with the Lender participating in the first tranche of the Loan Facility pursuant to this Agreement;
B. The Lender has agreed to provide a loan in the principal amount of $250,000 USD (the "Principal Amount") to the Company in accordance with the terms and conditions of this Agreement; and
C. The Borrower wishes to borrow monies from the Lender on the terms and conditions set forth in this Agreement.
NOW THEREFORE, in consideration of the mutual covenants and agreements set forth in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Lender and the Borrower (each, a "Party" and, together, the "Parties") covenant and agree as set forth below:
1. DEFINITIONS; INTERPRETATION
1.1 For the purpose of this Agreement, the following words and phrases will have meanings set forth below unless the Parties or the context otherwise require(s):
(a) "$" means lawful currency of the United States of America;
(b) "Advance Date" has the meaning set out in Section 2.1;
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