Form 8-K
8-K — SS Innovations International, Inc.
Accession: 0001213900-26-108624
Filed: 2026-10-13
Period: 2026-10-09
CIK: 0001676163
SIC: 3841 (SURGICAL & MEDICAL INSTRUMENTS & APPARATUS)
Item: Entry into a Material Definitive Agreement
Item: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
Item: Financial Statements and Exhibits
Documents
8-K — ea0308062-8k_ssinnova.htm (Primary)
EX-4.1 — SECURED CONVERTIBLE PROMISSORY NOTE, DATED OCTOBER 9, 2026 (ea030806201ex4-1.htm)
EX-5.1 — OPINION OF LEWIS BRISBOIS BISGAARD & SMITH LLP (ea030806201ex5-1.htm)
EX-10.1 — SECURITIES PURCHASE AGREEMENT, DATED OCTOBER 9, 2026 (ea030806201ex10-1.htm)
EX-10.2 — IP SECURITY AGREEMENT, DATED OCTOBER 9, 2026 (ea030806201ex10-2.htm)
EX-10.3 — SECURITY AGREEMENT, DATED OCTOBER 9, 2026 (ea030806201ex10-3.htm)
EX-10.4 — GUARANTY, DATED OCTOBER 9, 2026 (ea030806201ex10-4.htm)
GRAPHIC (ea030806201_ex5-1img1.jpg)
GRAPHIC (ea030806201_ex10-2img1.jpg)
GRAPHIC (ea030806201_ex10-2img2.jpg)
GRAPHIC (ea030806201_ex10-2img3.jpg)
GRAPHIC (ea030806201_ex10-2img4.jpg)
GRAPHIC (ea030806201_ex10-2img5.jpg)
GRAPHIC (ea030806201_ex10-2img6.jpg)
GRAPHIC (ea030806201_ex10-2img7.jpg)
GRAPHIC (ea030806201_ex10-2img8.jpg)
GRAPHIC (ea030806201_ex10-2img9.jpg)
GRAPHIC (ea030806201_ex10-2img10.jpg)
GRAPHIC (ea030806201_ex10-2img11.jpg)
GRAPHIC (ea030806201_ex10-2img12.jpg)
GRAPHIC (ea030806201_ex10-2img13.jpg)
GRAPHIC (ea030806201_ex10-2img14.jpg)
GRAPHIC (ea030806201_ex10-2img15.jpg)
GRAPHIC (ea030806201_ex10-2img16.jpg)
GRAPHIC (ea030806201_ex10-2img17.jpg)
GRAPHIC (ea030806201_ex10-2img18.jpg)
GRAPHIC (ea030806201_ex10-2img19.jpg)
GRAPHIC (ea030806201_ex10-2img20.jpg)
GRAPHIC (ea030806201_ex10-2img21.jpg)
GRAPHIC (ea030806201_ex10-2img22.jpg)
GRAPHIC (ea030806201_ex10-2img23.jpg)
GRAPHIC (ea030806201_ex10-2img24.jpg)
GRAPHIC (ea030806201_ex10-2img25.jpg)
GRAPHIC (ea030806201_ex10-2img26.jpg)
GRAPHIC (ea030806201_ex10-2img27.jpg)
GRAPHIC (ea030806201_ex10-2img28.jpg)
GRAPHIC (ea030806201_ex10-2img29.jpg)
GRAPHIC (ea030806201_ex10-2img30.jpg)
GRAPHIC (ea030806201_ex10-2img31.jpg)
GRAPHIC (ea030806201_ex10-2img32.jpg)
GRAPHIC (ea030806201_ex10-2img33.jpg)
GRAPHIC (ea030806201_ex10-2img34.jpg)
GRAPHIC (ea030806201_ex10-2img35.jpg)
GRAPHIC (ea030806201_ex10-2img36.jpg)
GRAPHIC (ea030806201_ex10-2img37.jpg)
GRAPHIC (ea030806201_ex10-2img38.jpg)
GRAPHIC (ea030806201_ex10-2img39.jpg)
GRAPHIC (ea030806201_ex10-2img40.jpg)
GRAPHIC (ea030806201_ex10-2img41.jpg)
GRAPHIC (ea030806201_ex10-2img42.jpg)
GRAPHIC (ea030806201_ex10-2img43.jpg)
GRAPHIC (ea030806201_ex10-2img44.jpg)
GRAPHIC (ea030806201_ex10-2img45.jpg)
GRAPHIC (ea030806201_ex10-2img46.jpg)
GRAPHIC (ea030806201_ex10-2img47.jpg)
XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K — CURRENT REPORT
8-K (Primary)
Filename: ea0308062-8k_ssinnova.htm · Sequence: 1
false
0001676163
0001676163
2026-10-09
2026-10-09
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of The Securities
Exchange Act of 1934
Date of report (Date of earliest event reported):
October 9, 2026
SS INNOVATIONS INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Florida
001-42615
47-3478854
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
405, 3rd Floor, iLabs Info Technology Centre
Udyog Vihar, Phase III
Gurugram, Haryana India
122016
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s telephone number, including
area code: +91 73375 53469
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b)
of the Act:
Title of each Class
Trading Symbol
Name of each exchange on which registered
Common Stock
SSII
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐
As used in this Current Report on Form 8-K (this
“Current Report”), the terms “SSi,” “the Company,” “we,” “us”
and “our” refer to SS Innovations International, Inc. and its subsidiaries.
Item 1.01 Entry into a Material Definitive
Agreement.
Securities Purchase Agreement
On October 9, 2026 (the “Closing Date”
or the “Effective Date”), SSi entered into a Securities Purchase Agreement (the “Purchase Agreement”)
with an institutional investor (the “Investor”), and consummated
the transactions contemplated thereby (the “Closing”). Pursuant to the Purchase Agreement, the Company issued and sold
to the Investor a secured convertible promissory note in the original principal amount of $21,025,000 (the “Note”),
which is convertible into shares of the Company’s common stock, par value $0.0001 per share (the “Common Shares”),
for an aggregate purchase price of $20,000,000. The Common Shares issuable upon conversion of or otherwise pursuant to the Note are
referred to herein as the “Conversion Shares.”
In connection with the Closing, the Company filed
a prospectus supplement pursuant to Rule 424(b) under the Securities Act of 1933, as amended, to the Company’s effective
shelf registration statement on Form S-3 (File No. 333-295501), covering the offer and sale of the Note and the Conversion Shares.
The Company also established an initial reserve of 8,000,000 Common Shares for issuances of Conversion Shares under the Note (the “Share
Reserve”) and agreed to increase the Share Reserve in increments of 100,000 Common Shares as required under the Purchase Agreement.
The Purchase Agreement contains customary representations,
warranties and covenants of the Company and the Investor.
The Note
The Note has an original principal amount of $21,025,000
and was issued for a purchase price of $20,000,000. The additional $1,025,000 included in the principal amount represents original issue
discount of $1,000,000 and the Investor’s transaction expenses of $25,000. The Note bears interest at a rate of 8.75% per annum
compounded daily and matures thirty-six (36) months after the Closing Date. The Note is secured by a security interest in (a) the Company’s
intellectual property, which is held by SSI IP Holdings, Inc., a wholly-owned Delaware subsidiary of the Company (“SS IP”),
pursuant to an Intellectual Property Security Agreement by and between the Investor and SS IP (the “IP Security Agreement”);
and (b) the assets of the Company and SS IP, including the Company’s equity interests in its direct and indirect subsidiaries, pursuant
to a Security Agreement by and among the Investor, the Company and SS IP (the “Asset Security Agreement”). Notwithstanding
the foregoing, the assets and capital stock of Sudhir Srivastava Innovations Pvt. Ltd., the Company’s Indian operating subsidiary
(“SSI-India”), are excluded from the collateral securing the Note. The Note is also guaranteed by the Company’s
direct and indirect subsidiaries other than SSI-India, pursuant to a Guaranty by and among the Investor and the guarantors entered into
at the Closing.
Commencing on the Effective
Date, the Investor may convert all or any portion of the outstanding balance of the Note (which includes accrued but unpaid interest and
certain other costs specified in the Note) into Common Shares at a conversion price equal to ninety-five percent (95%) of the Market Price
(a “Limited Redemption”), provided that the trading price for the Common Shares on such date exceeds the Market Price
by at least ten percent (10%). “Market Price” as defined in the Note means the lower of (a) the daily volume-weighted
average price (“VWAP”) of the Common Shares for the trading day immediately preceding the date of measurement; and
(b) the average daily VWAP for the Common Shares for the five (5) trading days immediately preceding the date of measurement (the “Limited
Redemption Window”). Limited Redemptions are subject to a daily limit equal to the greater of (a) $50,000; and (b) ten percent
(10%) of the cumulative daily dollar trading volume of the Common Shares on the trading day that a Limited Redemption occurs.
Beginning on the twelve (12)
month anniversary of the Effective Date, the Investor shall have the right, exercisable at any time in its sole and absolute discretion,
to redeem all or any portion of the Note (such amount, the “Redemption Amount”), subject to a monthly limit equal to
the outstanding balance of the Note as of the twelve (12) month anniversary of the Effective Date divided by twenty-four (24) (a “Fixed Redemption”).
Payments of each Redemption Amount may be made, in the Company’s discretion, (a) in cash; (b) by converting such Redemption Amount
into Conversion Shares (each, a “Redemption Conversion”) per the following formula: the number of Conversion Shares
equals the portion of the applicable Redemption Amount being converted plus Make-Whole Interest (as hereinafter defined) on such amount
divided by the Conversion Price; or (c) by any combination of the foregoing.
1
Upon five (5) trading days’ prior written
notice, the Company may prepay all or any portion of the outstanding balance of the Note, other than any portion for which the Investor
has delivered or elects to deliver a conversion notice prior to the expiration of such period and the applicable Conversion Shares have
not yet been delivered.
Each amount converted, redeemed or prepaid under
the Note includes Make-Whole Interest. Notwithstanding the foregoing, in the event the average daily VWAP for each day during a Limited
Redemption Window is fifteen percent (15%) or greater than the Minimum Price as defined in Nasdaq Rule 5635(d), on the day a Limited Redemption is made, applicable
Make-Whole Interest will be reduced from the outstanding balance of the Note.
As used in the Note, “Make-Whole
Interest” means: (a) during the period beginning on the Effective Date and ending on the one (1) year anniversary of the
Effective Date, all interest that has accrued and any remaining interest that would have accrued on the amount being paid or
converted calculated as if such amount had been held to the Maturity Date; (b) during the period beginning on the first day after
the one (1) year anniversary of the Effective Date and ending on the two (2) year anniversary of the Effective Date, all interest
that has accrued and 66.66% of any remaining interest that would have accrued on the amount being paid or converted calculated as if
such amount had been held to the Maturity Date; and (c) during the period beginning on the first day following the two (2) year
anniversary of the Effective Date until this Note is paid in full, all interest that has accrued and 33.33% of all interest that
would have accrued on the amount being paid or converted calculated as if such amount had been held to the Maturity Date.
The Note is subject to a beneficial ownership
limitation that prohibits any conversion to the extent that, after giving effect to the conversion, the Investor and its affiliates would
beneficially own more than 4.99% of the Company’s outstanding Common Shares, which percentage may be increased by the Investor to
9.99% upon 61 days’ prior written notice. In addition, the cumulative number of Common Shares issued to the Investor pursuant to
conversions of the Note, may not exceed the limitations imposed by Nasdaq Listing Rule 5635(d) (the “Exchange Cap”)
unless and until the Company obtains shareholder approval for issuances in excess of the Exchange Cap or the Exchange Cap is otherwise
inapplicable.
The Note contains customary covenants of the Company
and events of default.
The foregoing descriptions of the Purchase Agreement,
the Note, the IP Security Agreement, the Asset Security Agreement and the Guaranty Agreement do not purport to be complete and are qualified
in their entirety by reference to the full text of such agreements, copies of which are filed as Exhibits 10.1, 4.1, 10.2,
10.3 and 10.4 respectively, to this Current Report and are incorporated herein by reference. The legal opinion, including
the related consent, of Lewis Brisbois Bisgaard & Smith LLP relating to the issuance of the Note and the Conversion Shares is filed
as Exhibit 5.1 to this Current Report.
Item 2.03 Creation of a Direct Financial Obligation
or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The disclosure contained in Item 1.01 of
this Current Report on Form 8-K is incorporated by reference in this Item 2.03.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Description
4.1
Secured Convertible Promissory Note, dated October 9, 2026
5.1
Opinion of Lewis Brisbois Bisgaard & Smith LLP
10.1
Securities Purchase Agreement, dated October 9, 2026
10.2
IP Security Agreement, dated October 9, 2026
10.3
Security Agreement, dated October 9, 2026
10.4
Guaranty, dated October 9, 2026
23.1
Consent of Lewis Brisbois Bisgaard & Smith LLP (included in Exhibit 5.1)
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
2
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: October 13, 2026
SS INNOVATIONS INTERNATIONAL, INC.
By:
/s/ Sudhir Srivastava
Sudhir Srivastava, M.D.
Chairman, Chief Executive Officer, Interim Chief Financial Officer
3
EX-4.1 — SECURED CONVERTIBLE PROMISSORY NOTE, DATED OCTOBER 9, 2026
EX-4.1
Filename: ea030806201ex4-1.htm · Sequence: 2
Exhibit
4.1
SECURED CONVERTIBLE PROMISSORY NOTE
October 9, 2026
U.S. $21,025,000.00
FOR VALUE RECEIVED, SS
Innovations International, Inc., a Florida corporation (“Borrower”),
promises to pay to Growth Capital Partners, LLC,
a Utah limited liability company, or its successors or assigns (“Lender”),
$21,025,000.00 and any interest, fees, charges, and late fees accrued hereunder on the date that is thirty-six (36) months after
the Purchase Price Date (as defined below) (the “Maturity Date”) in accordance
with the terms set forth herein and to pay interest on the Outstanding Balance at the rate of eight and three-fourths percent (8.75%)
per annum from the Purchase Price Date until the same is paid in full. All interest calculations hereunder shall be computed on the basis
of a 360-day year comprised of twelve (12) thirty (30) day months, shall compound daily, and shall be payable in accordance
with the terms of this Note. This Secured Convertible Promissory Note (this “Note”)
is issued and made effective as of October 9, 2026 (the “Effective Date”).
This Note is issued pursuant to that certain Securities Purchase Agreement dated October 9, 2026 by and between Borrower and Lender
(the “Purchase Agreement”). Certain capitalized terms used herein are defined in
Attachment 1 attached hereto and incorporated herein by this reference.
This Note carries an original
issue discount of $1,000,000.00 (the “OID”). In addition, Borrower agrees to pay $25,000.00 to Lender to cover Lender’s
legal fees, accounting costs, due diligence, monitoring and other transaction costs incurred in connection with the purchase and sale
of this Note (the “Transaction Expense Amount”). The OID and the Transaction Expense Amount are fully earned as of
the Effective Date and are included in the initial principal balance. The purchase price for this Note shall be $20,000,000.00 (the “Purchase
Price”), computed as follows: $21,025,000.00 original principal balance, less the OID, less the Transaction Expense Amount.
The Purchase Price shall be payable by Lender by wire transfer of immediately available funds in accordance with the Purchase Agreement.
1. Payment;
Prepayment
1.1. Payment.
All payments owing hereunder shall be in lawful money of the United States of America or Conversion Shares (as defined below), as provided
for herein, and delivered to Lender at the address or bank account furnished to Borrower for that purpose. All payments shall be applied
first to (a) costs of collection, if any, then to (b) fees and charges, if any, then to (c) accrued and unpaid interest, and thereafter,
to (d) principal.
1.2. Prepayment.
Notwithstanding the foregoing, with five (5) Trading Days’ prior written notice, Borrower may prepay all or any portion of the Outstanding
Balance (less such portion of the Outstanding Balance for which Borrower has received a Conversion Notice (as defined below) from Lender
where the applicable Conversion Shares have not yet been delivered). For the avoidance of doubt, during the five (5) Trading Day prepayment
notice period Lender shall retain the right to submit Conversion Notices, if applicable. If Borrower exercises its right to prepay this
Note, Borrower shall make payment to Lender of an amount in cash equal to the portion of the Outstanding Balance Borrower elects to prepay
plus Make-Whole Interest on such amount.
1.3.
Security. This Note is secured by the Security Agreement (as defined in the Purchase Agreement) and IPSA (as defined in the Purchase
Agreement) and guaranteed by the Guaranty (as defined in the Purchase Agreement).
2. Limited
Redemptions. Beginning on the effectiveness of the Prospectus Supplement, if at any time thereafter a Limited Redemption Event occurs,
Lender shall have the right to submit to Borrower a conversion notice in substantially the form attached hereto as Exhibit A (each,
a “Conversion Notice”) in an amount up to the Maximum Limited Redemption Amount (such amount, the “Limited
Redemption Amount”) plus Make-Whole Interest on such amount at any time during the applicable Limited Redemption Window (“Limited
Redemptions”). Borrower must pay the applicable Limited Redemption Amount by delivery to Lender of a number of Common Shares
calculated using the following formula: the Limited Redemption Amount plus Make-Whole Interest on such amount divided by the Conversion
Price (the “Conversion Shares”). In the event the average daily VWAP for each day during a Limited Redemption Window
is fifteen percent (15%) or greater than the Nasdaq Minimum Price on the day the Limited Redemption Event occurs, then the applicable
Make-Whole Interest will be reduced from the Outstanding Balance. For the avoidance of doubt, Limited Redemptions will be credited toward
the Maximum Monthly Redemption Amount (as defined below). Borrower shall deliver the Conversion Shares from any Limited Redemption to
Lender in accordance with Section 7 below on or before each applicable Delivery Date (as defined below). In the event Lender submits a
Conversion Notice to Borrower and Borrower cannot issue the applicable Conversion Shares to Lender as a result of the Exchange Cap (as
defined in the Purchase Agreement), then Borrower must pay the applicable Limited
Redemption Amount to Lender in immediately available funds within three(3) Trading Days of delivery of the applicable Conversion Notice.
3. Fixed
Redemptions.
3.1. Fixed
Redemption Conversions. Beginning on the twelve (12) month anniversary of the Purchase Price Date, Lender shall have the right, exercisable
at any time in its sole and absolute discretion, to redeem all or any portion of the Note (such amount, the “Redemption Amount”),
subject to the Maximum Monthly Redemption Amount, by providing Borrower with a notice substantially in the form attached hereto as Exhibit
B (each, a “Redemption Notice”, and each date on which Lender delivers a Redemption Notice, a “Redemption
Date”). For the avoidance of doubt, Lender may submit to Borrower one (1) or more Redemption Notices in any given calendar month;
provided that the aggregate Redemption Amounts in such calendar month do not exceed the Maximum Monthly Redemption Amount. Payments of
each Redemption Amount (plus applicable Make-Whole interest) may be made, in Borrower’s discretion, (a) in cash, (b) by converting
such Redemption Amount into Conversion Shares (each, a “Redemption Conversion”) per the following formula: the number
of Conversion Shares equals the portion of the applicable Redemption Amount being converted plus Make-Whole Interest on such amount divided
by the Conversion Price, or (c) by any combination of the foregoing, so long as the cash is delivered to Lender on the third (3rd)
Trading Day immediately following the applicable Redemption Date and the Conversion Shares are delivered to Lender on or before the applicable
Delivery Date. Notwithstanding the foregoing, Borrower will not be entitled to elect a Redemption Conversion with respect to any portion
of any applicable Redemption Amount and shall be required to pay the Redemption Amount in cash, if on the applicable Redemption Date there
is an Equity Conditions Failure, and such failure is not waived in writing by Lender. Notwithstanding that failure to repay this Note
in full by the Maturity Date is a Trigger Event, the Redemption Dates shall continue after the Maturity Date pursuant to this Section
3.1 until the Outstanding Balance is repaid in full. In the event Lender submits a Redemption Notice to Borrower and Borrower cannot issue
the applicable Conversion Shares to Lender as a result of the Exchange Cap, then Borrower must pay the applicable Redemption Amount to
Lender in immediately available funds within three (3) Trading Days of delivery of the applicable Redemption Notice.
2
3.2. Allocation
of Redemption Amounts. Following its receipt of a Redemption Notice, Borrower may either ratify Lender’s proposed allocation
in the applicable Redemption Notice or elect to change the allocation by written notice to Lender by email within thirty-six (36) hours
of its receipt of such Redemption Notice, so long as the sum of the cash payments and the amount of Redemption Conversions equal the applicable
Redemption Amount plus the applicable Make-Whole Interest. If Borrower fails to notify Lender of its election to change the allocation
prior to the deadline set forth in the previous sentence, it shall be deemed to have ratified and accepted the allocation set forth in
the applicable Redemption Notice prepared by Lender. Borrower acknowledges and agrees that the amounts and calculations set forth thereon
are subject to correction or adjustment because of error, mistake, or any adjustment resulting from a Trigger Event or other adjustment
permitted under the Transaction Documents (an “Adjustment”). Furthermore, no error or mistake in the preparation of
such notices, or failure to apply any Adjustment that could have been applied prior to the preparation of a Redemption Notice may be deemed
a waiver of Lender’s right to enforce the terms of any Note, even if such error, mistake, or failure to include an Adjustment arises
from Lender’s own calculation. Borrower shall deliver the Conversion Shares from any Redemption Conversion to Lender in accordance
with Section 7 below on or before each applicable Delivery Date. For each Redemption Conversion, the applicable Conversion Price will
be calculated based on the VWAP for the Trading Day on which Borrower elects a Redemption Conversion if elected by Borrower during Regular
Market Hours (calculated at the end of Regular Market Hours for such Trading Day), or the VWAP for the last full Trading Day if elected
by Borrower outside of Regular Market Hours.
4. Trigger
Events, Defaults and Remedies.
4.1. Trigger
Events. The following are trigger events under this Note (each, a “Trigger Event”): (a) Borrower fails to pay any principal, interest, fees, charges, or any other amount when due and payable hereunder;
(b) a receiver, trustee or other similar official
shall be appointed over Borrower or a material part of its assets and such appointment shall remain uncontested for twenty (20) days or
shall not be dismissed or discharged within ninety (90) days; (c) Borrower becomes insolvent or generally fails to pay, or admits in writing
its inability to pay, its debts as they become due, subject to applicable grace periods, if any; (d) Borrower makes a general assignment
for the benefit of creditors; (e) Borrower files a petition for relief under any bankruptcy, insolvency or similar law (domestic or foreign);
(f) an involuntary bankruptcy proceeding is commenced or filed against Borrower; (g) the occurrence of a Fundamental Transaction without
Lender’s prior written consent; provided, however, that no consent will be required if this Note is paid in full in connection with
such Fundamental Transaction; (h) Borrower fails to observe or perform any covenant set forth in Section 4 of the Purchase Agreement;
(i) Borrower fails to maintain the Share Reserve (as defined in the Purchase Agreement); (j) at any time beginning on the effective date
of the Prospectus Supplement and ending on the date that is six (6) months from the Purchase Price Date, Borrower fails to maintain an
effective registration statement pursuant to which Lender is authorized to sell registered Conversion Shares; (k) Borrower fails to deliver
any Conversion Shares in accordance with the terms hereof; any representation, warranty or other statement made or furnished by or on
behalf of Borrower to Lender herein, in any Transaction Document, or otherwise in connection with the issuance of this Note is false,
incorrect, incomplete or misleading in any material respect when made or furnished; (l) Borrower effectuates a reverse split of its Common
Shares without twenty (20) Trading Days prior written notice to Lender other than a reverse split of its Common Shares to maintain compliance
with the minimum bid price requirements of the Nasdaq; (m) any money judgment, writ or similar process is entered or filed against Borrower
or any subsidiary of Borrower or any of its property or other assets for more than $2,500,000.00, and shall remain unvacated, unbonded
or unstayed for a period of thirty (30) calendar days unless otherwise consented to by Lender, which consent shall not be unreasonably
withheld or delayed); (n) Borrower fails to be DWAC Eligible; (o) Borrower breaches any material covenant or other material term or condition
contained in any Other Agreements, after the expiration of applicable notice and cure periods; (p) a non-management supported preliminary
proxy is filed against Borrower; or (q) Borrower defaults or otherwise fails to observe or perform any material covenant, obligation,
condition or agreement of Borrower contained herein or in any other Transaction Document (as defined in the Purchase Agreement), other
than those specifically set forth in this Section 4.1 and Section 4 of the Purchase Agreement.
3
4.2. Trigger
Event Remedies. At any time following the occurrence of any Trigger Event, Lender may, at its option, increase the Outstanding Balance
by applying the Trigger Effect.
4.3. Defaults.
At any time following the occurrence of a Trigger Event, Lender may, at its option, send written notice to Borrower demanding that Borrower
cure the Trigger Event within five (5) Trading Days. If Borrower fails to cure the Trigger Event within the required five (5) Trading
Day cure period, the Trigger Event will automatically become an event of default hereunder (each, an “Event of Default”).
4.4. Default
Remedies. At any time and from time to time following the occurrence of any Event of Default, Lender may accelerate this Note by written
notice to Borrower, with the Outstanding Balance becoming immediately due and payable in cash at the Mandatory Default Amount.). Notwithstanding
the foregoing, upon the occurrence of any Trigger Event described in clauses 4.1(b) – 4.1(f), an Event of Default will be deemed
to have occurred and the Outstanding Balance as of the date of the occurrence of such Trigger Event shall become immediately and automatically
due and payable in cash at the Mandatory Default Amount, without any written notice required by Lender for the Trigger Event to become
an Event of Default. At any time following the occurrence of any Event of Default, upon written notice given by Lender to Borrower, interest
shall accrue on the Outstanding Balance beginning on the date the applicable Event of Default occurred at an interest rate equal to the
lesser of eighteen percent (18%) per annum or the maximum rate permitted under applicable law (“Default Interest”).
For the avoidance of doubt, Lender may continue making Limited Redemptions and Redemption Conversions at any time following a Trigger
Event or an Event of Default until such time as the Note is paid in full. In connection with acceleration described herein, Lender need
not provide, and Borrower hereby waives, any presentment, demand, protest or other notice of any kind, and Lender may immediately enforce
any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be
rescinded and annulled by Lender at any time prior to payment hereunder and Lender shall have all rights as a holder of the Note until
such time, if any, as Lender receives full payment pursuant to this Section 4.2. No such rescission or annulment shall affect any subsequent
Trigger Event or Event of Default or impair any right consequent thereon. Nothing herein shall limit Lender’s right to pursue any
other remedies available to it at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief
with respect to Borrower’s failure to timely deliver Conversion Shares as required pursuant to the terms hereof.
5. Unconditional
Obligation; No Offset. Borrower acknowledges that this Note is an unconditional, valid, binding and enforceable obligation of Borrower
not subject to offset, deduction or counterclaim of any kind. Borrower hereby waives any rights of offset it now has or may have hereafter
against Lender, its successors and assigns, and agrees to make the payments or Conversions called for herein in accordance with the terms
of this Note.
6. Waiver.
No waiver of any provision of this Note shall be effective unless it is in the form of a writing signed by the party granting the waiver.
No waiver of any provision or consent to any prohibited action shall constitute a waiver of any other provision or consent to any other
prohibited action, whether or not similar. No waiver or consent shall constitute a continuing waiver or consent or commit a party to provide
a waiver or consent in the future except to the extent specifically set forth in writing.
7. Method
of Conversion Share Delivery. On or before the close of business on the third (3rd) Trading Day following each Redemption
Date or the third (3rd) Trading Day following the date of delivery of a Conversion Notice, as applicable (the “Delivery
Date”), Borrower shall, provided it is DWAC Eligible at such time and such Conversion Shares are eligible for delivery via DWAC,
deliver or cause its transfer agent to deliver the applicable Conversion Shares electronically via DWAC to the account designated by Lender
in the applicable Conversion Notice or Redemption Notice. If Borrower is not DWAC Eligible or such Conversion Shares are not eligible
for delivery via DWAC, it shall issue the applicable Conversion Shares to Lender in book entry form.
4
8. Conversion
Delays. If Borrower fails to deliver Conversion Shares by the applicable Delivery Date, Lender may at any time prior to receiving
the applicable Conversion Shares rescind in whole or in part such Conversion, with such rescinded amount being returned to the Outstanding
Balance (any returned amount will tack back to the Purchase Price Date for purposes of determining the holding period under Rule 144).
In addition, for each Conversion, in the event that Conversion Shares are not delivered by the applicable Delivery Date, a late fee equal
to 2% of the applicable Conversion Share Value rounded to the nearest multiple of $100.00 but with a floor of $500.00 per day (but in
any event the cumulative amount of such late fees for each Conversion shall not exceed 200% of the applicable Conversion Share Value)
will be assessed for each day after the Delivery Date until Conversion Share delivery is made; and such late fees will be added to the
Outstanding Balance (such fees, the “Conversion Delay Late Fees”).
9. Ownership
Limitation. Notwithstanding anything to the contrary contained in this Note or the other Transaction Documents, Borrower shall not
effect any conversion of this Note to the extent that after giving effect to such conversion would cause Lender (together with its affiliates)
to beneficially own a number of Common Shares exceeding 4.99% of the number of Common Shares outstanding on such date (including for such
purpose the Common Shares issuable upon such issuance) (the “Maximum Percentage”). Lender may increase the Maximum
Percentage to 9.99% by providing Borrower with 61-days’ written notice. Until such increase becomes effective, the 4.99% Maximum
Percentage shall continue to apply. For purposes of this section, beneficial ownership of Common Shares will be determined pursuant to
Section 13(d) of the 1934 Act. The Maximum Percentage is enforceable, unconditional, and non-waivable and shall apply to all affiliates
and assigns of Lender.
10. No
Shorting. While this Note is outstanding, neither Lender nor any of its subsidiaries, members, manager, employees or other affiliates
has or will directly or indirectly engage in any open market Short Sales (as defined below) of Common Shares; provided, however, that
unless and until Borrower has affirmatively demonstrated by the use of specific evidence that Lender is engaging in open market Short
Sales, Lender shall be assumed to be in compliance with the provisions of this Section 10 and Borrower shall remain fully obligated to
fulfill all of its obligations under the Transaction Documents; and provided, further, that (A) Borrower shall under no circumstances
be entitled to request or demand that Lender either (1) provide trading or other records of Lender or of any party or (2) affirmatively
demonstrate that Lender or any other party has not engaged in any such Short Sales in breach of these provisions as a condition to Borrower’s
fulfillment of its obligations under any of the Transaction Documents, (B) Borrower shall not assert Lender’s or any other party’s
failure to demonstrate such absence of such Short Sales or provide any trading or other records of Lender or any other party as all or
part of a defense to any breach of Borrower’s obligations under any of the Transaction Documents, and (C) Borrower shall have no
setoff right with respect to any such Short Sales. “Short Sale” has the meaning provided in Rule 200 promulgated under
Regulation SHO under the 1934 Act. For the purposes hereof, and in accordance with Regulation SHO, the sale within one (1) Trading Day
of delivery of a Redemption Notice or Conversion Notice of such number of Common Shares reasonably expected to be purchased under such
notice shall not be deemed a Short Sale.
11. Opinion
of Counsel. In the event that an opinion of counsel is needed for any matter related to this Note, Lender has the right to have any
such opinion provided by its counsel.
12. Governing
Law; Venue. This Note shall be construed and enforced in accordance with, and all questions concerning the construction, validity,
interpretation and performance of this Note shall be governed by, the internal laws of the State of Utah, without giving effect to any
choice of law or conflict of law provision or rule (whether of the State of Utah or any other jurisdiction) that would cause the application
of the laws of any jurisdiction other than the State of Utah. The provisions set forth in the Purchase Agreement to determine the proper
venue for any disputes are incorporated herein by this reference.
5
13. Arbitration
of Disputes. By its issuance or acceptance of this Note, each party agrees to be bound by the Arbitration Provisions (as defined in
the Purchase Agreement) set forth as an exhibit to the Purchase Agreement.
14. Cancellation.
After repayment or conversion of the entire Outstanding Balance, this Note shall be deemed paid in full, shall automatically be deemed
canceled, and shall not be reissued.
15. Amendments.
The prior written consent of both parties hereto shall be required for any change or amendment to this Note.
16. Assignments.
Borrower may not assign this Note without the prior written consent of Lender. This Note and any Common Shares issued upon conversion
of this Note may be offered, sold, assigned or transferred by Lender without the consent of Borrower.
17. Notices.
Whenever notice is required to be given under this Note, unless otherwise provided herein, such notice shall be given in accordance with
the subsection of the Purchase Agreement titled “Notices.”
18. Liquidated
Damages. Lender and Borrower agree that in the event Borrower fails to comply with any of the terms or provisions of this Note, Lender’s
damages would be uncertain and difficult (if not impossible) to accurately estimate because of the parties’ inability to predict
future interest rates, future share prices, future trading volumes and other relevant factors. Accordingly, Lender and Borrower agree
that any fees, balance adjustments, Default Interest or other charges assessed under this Note are not penalties but instead are intended
by the parties to be, and shall be deemed, liquidated damages (under Lender’s and Borrower’s expectations that any such liquidated
damages will tack back to the Purchase Price Date for purposes of determining the holding period under Rule 144). Therefore, no additional
penalty claims, lost profits or other damages shall be claimed in excess of agreed liquidated damage amounts under this Note.
19. Severability.
If any part of this Note is construed to be in violation of any law, such part shall be modified to achieve the objective of Borrower
and Lender to the fullest extent permitted by law and the balance of this Note shall remain in full force and effect.
[Remainder of page intentionally left blank;
signature page follows]
6
IN WITNESS WHEREOF, Borrower
has caused this Note to be duly executed as of the Effective Date.
BORROWER:
SS Innovations International, Inc.
By:
/s/ Sudhir Prem Srivastava
Sudhir Prem Srivastava, CEO
ACKNOWLEDGED, ACCEPTED AND AGREED:
LENDER:
Growth
Capital Partners, LLC
By:
/s/ Scott Brown
Scott Brown, President
[Signature Page to Secured
Convertible Promissory Note]
ATTACHMENT 1
DEFINITIONS
For purposes of this
Note, the following terms shall have the following meanings:
A1. “Common
Shares” means shares of Borrower’s common stock, par value $0.0001.
A2.
“Conversion” means a Limited Redemption under Section 2 or a Redemption Conversion under Section 3.
A3. “Conversion
Price” means ninety-five percent (95%) of the Market Price on the applicable measurement date.
A4. “Conversion
Share Value” means the product of the number of Conversion Shares deliverable pursuant to any Conversion Notice or
Redemption Notice multiplied by the daily VWAP of the Common Shares on the Delivery Date for such Conversion.
A5.
“DTC” means the Depository Trust Company or any successor thereto.
A6. “DTC/FAST
Program” means the DTC’s Fast Automated Securities Transfer program.
A7.
“DWAC” means the DTC’s Deposit/Withdrawal at Custodian system.
A8. “DWAC
Eligible” means that (a) Borrower’s Common Shares is eligible at DTC for full services pursuant to DTC’s
operational arrangements, including without limitation transfer through DTC’s DWAC system; (b) Borrower has been approved
(without revocation) by DTC’s underwriting department; (c) Borrower’s transfer agent is approved as an agent in the
DTC/FAST Program; (d) the Conversion Shares are otherwise eligible for delivery via DWAC; and (e) Borrower’s transfer agent
does not have a policy prohibiting or limiting delivery of the Conversion Shares via DWAC.
A9. “Equity
Conditions Failure” means that any of the following conditions has not been satisfied on any given Redemption Date:
(a) with respect to the applicable date of determination all of the Conversion Shares would be freely tradable by Lender
pursuant to an effective registration statement, under Rule 144 (except for the limitations under Rule 144 that Lender may be
subject to due to its “affiliate” status) or without the need for registration under any applicable federal or state
securities laws (in each case, disregarding any limitation on conversion of this Note); (b) Borrower is in full compliance with all
of Nasdaq’s continued listing requirements; and (c) the 20- and 60-day median and average daily trading volume of the Common
Shares is at least $300,000.00.
A10.
“Fundamental Transaction” means that (a) (i) Borrower or any of its subsidiaries shall, directly or
indirectly, in one or more related transactions, consolidate or merge with or into (whether or not Borrower or any of its
subsidiaries is the surviving corporation) any other person or entity, not including subsidiary mergers for internal corporate
purposes, (ii) Borrower or any of its subsidiaries shall, directly or indirectly, in one or more related transactions, sell,
lease, license, assign, transfer, convey or otherwise dispose of all or substantially all of its respective properties or assets to
any other person or entity, (iii) Borrower or any of its subsidiaries shall, directly or indirectly, in one or more related
transactions, allow any other person or entity to make a purchase, tender or exchange offer that is accepted by the holders of more
than fifty percent (50%) of the outstanding shares of voting stock of Borrower (not including any shares of voting stock of Borrower
held by the person or persons making or party to, or associated or affiliated with the persons or entities making or party to, such
purchase, tender or exchange offer), (iv) Borrower or any of its subsidiaries shall, directly or indirectly, in one or more
related transactions, consummate a stock or share purchase agreement or other business combination (including, without limitation, a
reorganization, recapitalization, spin-off or scheme of arrangement) with any other person or entity whereby such other person or
entity acquires more than fifty percent (50%) of the outstanding shares of voting stock of Borrower (not including any shares of
voting stock of Borrower held by the other persons or entities making or party to, or associated or affiliated with the other
persons or entities making or party to, such stock or share purchase agreement or other business combination), (v) Borrower or
any of its subsidiaries shall, directly or indirectly, in one or more related transactions, reorganize, recapitalize or reclassify
the Common Shares, other than an increase in the number of authorized shares of Borrower’s Common Shares or a reverse or
forward stock split, (vi) Borrower transfers any material asset to any subsidiary, affiliate, person or entity under common
ownership or control with Borrower, or (vii) Borrower pays or makes any monetary or non-monetary dividend or distribution to its
shareholders other than a dividend in Common Shares; or (b) any “person” or “group” (as these terms are
used for purposes of Sections 13(d) and 14(d) of the 1934 Act and the rules and regulations promulgated thereunder) is or shall
become the “beneficial owner” (as defined in Rule 13d-3 under the 1934 Act), directly or indirectly, of fifty
percent (50%) of the aggregate ordinary voting power represented by issued and outstanding voting stock of Borrower. For the
avoidance of doubt, Borrower or any of its subsidiaries entering into a definitive agreement that contemplates a Fundamental
Transaction will be deemed to be a Fundamental Transaction unless such agreement contains a closing condition that this Note is
repaid in full upon consummation of the transaction.
Attachment 1 to Secured Convertible Promissory
Note, Page 1
A11. “Limited
Redemption Event” means that on any given Trading Day the Common Shares trade at a price that is at least ten percent (10%)
greater than the Market Price for such Trading Day.
A12. “Limited
Redemption Window” means the period beginning on the date a Limited Redemption Event occurs and ending on the date that is three
(3) Trading Days after the date the Limited Redemption Event occurs. For the avoidance of doubt, more than one (1) Limited Redemption
Window may be open at the same time.
A13. “Major Trigger
Event” means any Trigger Event occurring under Sections 4.1(a) – 4.1(i).
A14. “Make-Whole
Interest” means: (a) during the period beginning on the Effective Date and ending on the one (1) year anniversary of the Effective
Date, all interest that has accrued and any remaining interest that would have accrued on the amount being paid or converted calculated
as if such amount had been held to the Maturity Date; (b) during the period beginning on the first day after the one (1) year anniversary
of the Effective Date and ending on the two (2) year anniversary of the Effective Date, all interest that has accrued and 66.66% of any
remaining interest that would have accrued on the amount being paid or converted calculated as if such amount had been held to the Maturity
Date; and (c) during the period beginning on first day following the two (2) year anniversary of the Effective Date until this Note is
paid in full, all interest that has accrued and 33.33% of all interest that would have accrued on the amount being paid or converted calculated
as if such amount had been held to the Maturity Date.
A15. “Mandatory
Default Amount” means the Outstanding Balance following the application of the Trigger Effect.
A16. “Market Price”
means the lower of: (a) the daily VWAP for the Trading Day immediately preceding the date of measurement; and (b) the average daily VWAP
for the five (5) Trading Days immediately preceding the date of measurement.
A17. “Maximum
Limited Redemption Amount” means the greater of (a) $50,000.00, and (b) ten percent (10%) of the cumulative daily dollar trading
volume on the Trading Day that a Limited Redemption Event occurs on such amount; measured as the cumulative dollar trading volume on all
exchanges beginning at 4:01 PM Eastern Time on the Trading Day before the occurrence of the Limited Redemption Event and ending at 4:00
PM Eastern Time on the Trading Day during which the Limited Redemption Event occurs.
A18. “Maximum
Monthly Redemption Amount” means the Outstanding Balance on the one (1) year anniversary of the Effective Date, divided by twenty-four
(24).
A19. “Minor Trigger
Event” means any Trigger Event that is not a Major Trigger Event.
A20. “Nasdaq
Minimum Price” means the Minimum Price as defined in Nasdaq Rule 5635(d).
A21. “Other Agreements”
means, collectively, (a) all existing and future agreements and instruments between, among or by Borrower (or an affiliate), on the one
hand, and Lender (or an affiliate), on the other hand, and (b) any financing agreement other agreement that materially adversely affects
Borrower’s ongoing business operations.
A22. “Outstanding
Balance” means as of any date of determination, the Purchase Price, as reduced or increased, as the case may be, pursuant to
the terms hereof for payment, Conversion, offset, or otherwise, plus the OID and the Transaction Expense Amount, accrued but unpaid interest,
collection and enforcements costs (including attorneys’ fees) incurred by Lender, transfer, stamp, issuance and similar taxes and
fees related to Conversions, and any other fees or charges (including without limitation Conversion Delay Late Fees) incurred under this
Note.
A23. “Prospectus
Supplement” means a 424B Prospectus Supplement to Borrower’s Form S-3 Registration Statement (File No. 333-295501) filed
by Borrower with the SEC registering the Conversion Shares.
Attachment 1 to Secured Convertible Promissory
Note, Page 2
A24. “Purchase
Price Date” means the date the Purchase Price is delivered by Lender to Borrower.
A25. “Regular Market
Hours” means, with respect to any Trading Day, the period beginning at 9:30 a.m., Eastern Time (or such later time as Borrower’s
principal trading market announces as the official open of its regular trading session on such Trading Day) and ending at 4:00 p.m., Eastern
Time (or such earlier time as the as Borrower’s principal trading market announces as the official close of its regular trading
session on such Trading Day, including any scheduled early close).
A26. “Trading
Day” means any day on which Nasdaq is open for trading.
A27. “Trigger
Effect” means multiplying the Outstanding Balance as of the date the applicable Trigger Event occurred by (a) fifteen percent
(15%) for each occurrence of any Major Trigger Event, or (b) five percent (5%) for each occurrence of any Minor Trigger Event, and then
adding the resulting product to the Outstanding Balance as of the date the applicable Trigger Event occurred, with the sum of the foregoing
then becoming the Outstanding Balance under this Note as of the date the applicable Trigger Event occurred; provided that the Trigger
Effect may only be applied three (3) times hereunder with respect to Major Trigger Events and three (3) times hereunder with respect to
Minor Trigger Events; and provided further that the Trigger Effect shall not apply to any Trigger Event pursuant to Section 4.1(k) hereof.
A28. “VWAP”
means the volume weighted average price of the Common Shares on Nasdaq during Regular Market Hours for a particular Trading Day or set
of Trading Days, as the case may be, as reported by Bloomberg.
[Remainder of page intentionally
left blank]
Attachment 1 to Secured Convertible Promissory
Note, Page 3
EXHIBIT A
Growth Capital Partners, LLC
SS Innovations International, Inc.
Date:
Attn: Sudhir Prem Srivastava
CONVERSION NOTICE
The above-captioned Lender hereby gives notice
to SS Innovations International, Inc., a Florida corporation (the “Borrower”), pursuant
to that certain Secured Convertible Promissory Note made by Borrower in favor of Lender on October 9, 2026 (the “Note”),
that Lender elects to convert the portion of the Note balance set forth below into fully paid and non-assessable Common Shares
of Borrower as of the date of conversion specified below (i.e. the date on which this Conversion Notice is delivered). Said conversion
shall be based on the Conversion Price set forth below. In the event of a conflict between this Conversion Notice and the Note, the Note
shall govern, or, in the alternative, at the election of Lender in its sole discretion, Lender may provide a new form of Conversion Notice
to conform to the Note. Capitalized terms used in this notice without definition shall have the meanings given to them in the Note.
A. Date of Conversion: ____________
B. Limited Redemption #: ____________
C. Limited Redemption Amount: ____________
D. Conversion Price: _______________
E. Conversion Shares: _______________ (C divided by D)
F. Remaining Outstanding Balance of Note: ____________*
* Subject to adjustments for corrections, defaults, interest
and other adjustments permitted by the Transaction Documents (as defined in the Purchase Agreement), the terms of which shall control
in the event of any dispute between the terms of this Conversion Notice and such Transaction Documents.
Please transfer the Lender Conversion Shares
electronically (via DWAC) to the following account:
Broker:
Address:
DTC#:
Account #:
Account Name:
Sincerely,
Lender:
Growth
Capital Partners, LLC
By:
Scott Brown, President
Exhibit A to Secured Convertible Promissory Note,
Page 1
EXHIBIT B
Growth Capital Partners, LLC
SS Innovations International, Inc.
Date:
Attn: Sudhir Prem Srivastava
REDEMPTION NOTICE
The above-captioned Lender hereby gives notice
to SS Innovations International, Inc., a Florida corporation (the “Borrower”), pursuant
to that certain Secured Convertible Promissory Note made by Borrower in favor of Lender on October 9, 2026 (the “Note”),
that Lender elects to redeem a portion of the Note in Conversion Shares or in cash as set forth below. In the event of a conflict
between this Redemption Notice and the Note, the Note shall govern, or, in the alternative, at the election of Lender in its sole discretion,
Lender may provide a new form of Redemption Notice to conform to the Note. Capitalized terms used in this notice without definition shall
have the meanings given to them in the Note.
REDEMPTION INFORMATION
A. Redemption Date: ____________, 202_
B. Redemption Amount: ____________
C. Portion of Redemption Amount to be Paid in Cash: ____________
D. Portion of Redemption Amount to be Converted into Common Shares: ____________ (B minus C)
E. Conversion Price: _______________
F. Conversion Shares: _______________ (D divided by E)
G. Remaining Outstanding Balance of Note: ____________ *
* Subject to adjustments for corrections, defaults, interest
and other adjustments permitted by the Transaction Documents (as defined in the Purchase Agreement), the terms of which shall control
in the event of any dispute between the terms of this Redemption Notice and such Transaction Documents.
Please transfer the Conversion Shares, if
applicable, electronically (via DWAC) to the following account:
Broker:
Address:
DTC#:
Account #:
Account Name:
Sincerely,
Lender:
Growth
Capital Partners, LLC
By:
Scott Brown, President
Exhibit B to Secured Convertible Promissory Note,
Page 1
EX-5.1 — OPINION OF LEWIS BRISBOIS BISGAARD & SMITH LLP
EX-5.1
Filename: ea030806201ex5-1.htm · Sequence: 3
Exhibit 5.1
October 9, 2026
SS Innovations International, Inc.
405, 3rd Floor, iLabs Info Technology Centre
Udyog Vihar, Phase III
Gurugram, Haryana India 122016
Re: SS Innovations International, Inc.
Registration Statement on Form S-3 (File
No. 333-295501)
Ladies and Gentlemen:
We are counsel to SS Innovations
International, Inc., a Florida corporation (the “Company”), in connection with the offering and issuance of (i) a secured
convertible promissory note in the original principal amount of $21,025,000 (the “Note”), and (ii) the shares of the
Company’s common stock, par value $0.0001 per share (the “Common Shares”), issuable upon conversion of, or otherwise
pursuant to, the Note (the “Conversion Shares,” and together with the Note, the “Securities”), including
an initial reserve of 8,000,000 Common Shares, as such reserve may be increased from time to time in accordance with the Securities Purchase
Agreement (as defined below). The Securities are being sold pursuant to the Registration Statement on Form S-3 (File No. 333-295501) (the
“Registration Statement”) filed with the Securities and Exchange Commission (the “Commission”) under
the Securities Act of 1933, as amended (the “Securities Act”), which was declared effective by the Commission on May
18, 2026, and includes the related base prospectus dated May 18, 2026 (the “Base Prospectus”), as supplemented by the
prospectus supplement dated October 9, 2026 (“Prospectus Supplement,” together with the Base Prospectus, the “Prospectus”),
in accordance with the Securities Purchase Agreement dated as of October 9, 2026 (the “Securities Purchase Agreement”),
by and between the Company and that certain investor party thereto.
This opinion is being furnished in accordance with
the requirements of Item 601(b)(5) of Regulation S-K under the Securities Act.
For purposes of rendering
the opinions set forth below, we have examined such documents and reviewed such questions of law as we have considered necessary and appropriate
for the purposes of our opinions, including (i) the Registration Statement, including the exhibits filed therewith; (ii) the Prospectus;
(iii) the Securities Purchase Agreement, including the exhibits thereto; (iv) the Note; (v) the Company’s articles of incorporation
as currently in effect; (vi) the Company’s bylaws as currently in effect; (vii) certain resolutions of the board of directors of
the Company relating to the issuance and sale of the Securities; and (viii) the originals or copies certified to our satisfaction of such
other documents, records, certificates, memoranda and other instruments as in our judgment are necessary or appropriate to enable us to
render the opinions expressed below.
In addition, in rendering
this opinion, we have assumed: (i) the genuineness and authenticity of all signatures on original documents; (ii) the genuineness and
authenticity of all documents submitted to us as originals; (iii) the conformity to originals of all documents submitted to us as copies;
(iv) the accuracy, completeness and authenticity of certificates of public officials; (v) the due authorization, execution and delivery
of all documents where due authorization, execution and delivery are prerequisites to the effectiveness of such documents (other than
with respect to the Company); and (vi) that at the time of each issuance of Conversion Shares, the Company will have a sufficient number
of authorized but unissued Common Shares reserved for such issuance. We have not sought independently to verify such matters.
ARIZONA • CALIFORNIA • COLORADO • CONNECTICUT • DELAWARE • FLORIDA • GEORGIA • ILLINOIS • INDIANA • KANSAS • KENTUCKY • LOUISIANA
MARYLAND • MASSACHUSETTS • MINNESOTA • MISSISSIPPI • MISSOURI • NEVADA • NEW
JERSEY • NEW MEXICO • NEW YORK • NORTH CAROLINA
OHIO • OREGON • PENNSYLVANIA • RHODE ISLAND • TENNESSEE • TEXAS • UTAH • VIRGINIA • WASHINGTON • WASHINGTON
D.C. • WEST VIRGINIA
SS Innovations International, Inc.
October 9, 2026
Page 2
Our opinions expressed herein
are subject to the following qualifications and exceptions: (i) the effect of bankruptcy, insolvency, reorganization, arrangement, moratorium,
or other similar laws relating to or affecting the rights of creditors generally, including, without limitation, laws relating to fraudulent
transfers or conveyances, preferences, and equitable subordination; and (ii) the effect of general principles of equity, including, without
limitation, concepts of materiality, reasonableness, good faith and fair dealing (regardless of whether considered in a proceeding in
equity or at law). We express no opinions other than as specifically set forth herein. We are opining solely on all applicable statutory
provisions of the State of Florida and express no opinion as to whether the laws of any other jurisdiction are applicable to the
subject matter hereof. We express no opinion as to the creation, attachment, perfection or priority of any security interest securing
the Note, or as to any guaranty thereof. We are not rendering any opinion as to compliance with any federal or state law, rule or regulation
relating to securities, or to the sale or issuance thereof. This opinion letter deals only with the specified legal issues expressly addressed
herein, and you should not infer any opinion that is not explicitly stated herein from any matter addressed in this opinion letter.
On the basis of the foregoing,
and in reliance thereon, we are of the opinion that (i) the Note, when issued and sold in accordance with the Securities Purchase Agreement,
the Registration Statement and the Prospectus, upon payment of the consideration therefor, will be a valid and binding obligation of the
Company enforceable against the Company in accordance with its terms; and (ii) the Conversion Shares have been duly and validly authorized
for issuance and, when issued and delivered in accordance with the Note, the Registration Statement and the Prospectus, will be validly
issued, fully paid and non-assessable.
This opinion is given as of
the date hereof and we assume no obligation to advise you of changes that may thereafter be brought to our attention.
We hereby consent to the filing
of this opinion as an exhibit to a Current Report on Form 8-K to be filed by the Company on or about the date hereof and to its incorporation
by reference into the Registration Statement and further consent to the reference to our name under the caption “Legal Matters”
in the Prospectus Supplement, which is a part of the Registration Statement. In giving this consent, we do not thereby admit that we are
experts within the meaning of Section 11 of the Securities Act or included in the category of persons whose consent is required under
Section 7 of the Securities Act or the rules and regulations of the Commission.
Very
truly yours,
/s/ Lewis Brisbois Bisgaard
& Smith LLP
LEWIS BRISBOIS BISGAARD & SMITH LLP
LEWIS BRISBOIS BISGAARD & SMITH LLP
www.lewisbrisbois.com
EX-10.1 — SECURITIES PURCHASE AGREEMENT, DATED OCTOBER 9, 2026
EX-10.1
Filename: ea030806201ex10-1.htm · Sequence: 4
Exhibit 10.1
Securities Purchase Agreement
This
Securities Purchase Agreement (this “Agreement”), dated as of October 9, 2026, is entered into by and between
SS Innovations International, Inc., a Florida corporation (“Company”),
and Growth Capital Partners, LLC, a Utah limited liability company (“Investor”).
A. Company is executing and delivering
this Agreement, and the securities are being offered and sold hereunder, pursuant to an effective registration statement on Form S-3 (File
No. 333-295501) filed with the United States Securities and Exchange Commission (the “SEC”) under the Securities Act
of 1933, as amended (the “1933 Act”), including the base prospectus contained therein and a prospectus supplement to
be filed with the SEC pursuant to Rule 424(b) under the 1933 Act, and in compliance with applicable state securities laws.
B. Investor desires to purchase
and Company desires to issue and sell, upon the terms and conditions set forth in this Agreement, a Secured Convertible Promissory Note
in the original principal amount of $21,025,000.00 in the form attached hereto as Exhibit A (the “Note”),
convertible into Company’s shares of common stock, $0.0001 par value per share (the “Common Shares”).
C. This
Agreement, the Note, the Guaranty (as defined below), the Security Agreement (as defined below), the IPSA (as defined below), and all
other certificates, documents, agreements, resolutions and instruments delivered to any party under or in connection with this Agreement,
as the same may be amended from time to time, are collectively referred to herein as the “Transaction Documents”.
D. For
purposes of this Agreement: “Conversion Shares” means all Common Shares issuable upon conversion of all or any portion
of the Note; and “Securities” means the Note and the Conversion Shares.
NOW, THEREFORE, in
consideration of the above recitals and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
Company and Investor hereby agree as follows:
1. Purchase
and Sale of Securities.
1.1. Note.
Subject to the terms and conditions set forth herein, Company shall issue and sell to Investor and Investor shall purchase from Company
the Note. In consideration thereof, Investor shall pay $20,000,000.00 (the “Purchase Price”) to Company via wire transfer
of immediately available funds against delivery of the Note.
1.2. Closing
Date. Subject to the satisfaction (or written waiver) of the conditions set forth in Section 5 and Section 6 below, the date of the
issuance and sale of the Note pursuant to this Agreement (the “Closing Date”) shall be October 9, 2026 or a mutually
agreed upon date. The closing of the issuance of the Note (the “Closing”) shall occur on the Closing Date by means
of the exchange of electronic signatures, but shall be deemed for all purposes to have occurred at the offices of Capital Law Partners
PLLC in Lehi, Utah.
1.3. Original
Issue Discount; Transaction Expense Amount. The Note carries an original issue discount of $1,000,000.00. In addition, Company agrees
to pay $25,000.00 to Investor to cover Investor’s legal fees, accounting costs, due diligence, monitoring and other transaction
costs incurred in connection with the purchase and sale of the Securities.
1.4. Guaranty.
Company’s obligations under the Note will be guaranteed by a Guaranty in the form attached hereto as Exhibit B (the “Guaranty”).
The Guaranty will be given by the following direct and indirect subsidiaries of Company: (i) SSI IP Holdings, Inc. (“SSI IP”);
(ii) CardioVentures Inc.; (iii) Avra IP Holdings, Inc.; (iv) Otto Pvt. Ltd.; and (v) SS International Centre for Robotics Surgery Pvt
Ltd (collectively, the “Subsidiaries”; and each individually, a “Subsidiary”).
1.5. Security
Agreement. Company’s obligations under the Note will be secured by a Security Agreement executed by Company and SSI IP in the
form attached hereto as Exhibit C (the “Security Agreement”), and an Intellectual Property Security Agreement
to be executed by SSI IP in the form attached hereto as Exhibit D (the “IPSA”).
2. Investor’s
Representations and Warranties. Investor represents and warrants to Company that as of the Closing Date: (i) this Agreement has been
duly and validly authorized by Investor; (ii) this Agreement constitutes a valid and binding agreement of Investor enforceable in accordance
with its terms; and (iii) Investor is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D of the
1933 Act.
3. Company’s
Representations and Warranties. Company represents and warrants to Investor that (i) Company is organized, validly existing and in
good standing under the laws of its jurisdiction of incorporation and has the requisite corporate power to own its properties and to carry
on its business as now being conducted; (ii) Company is duly qualified to do business and is in good standing in each jurisdiction where
the nature of the business conducted or property owned by it makes such qualification necessary; (iii) Company has registered its Common
Shares under Section 12(b) of the Securities Exchange Act of 1934, as amended (the “1934 Act”), and is obligated
to file reports pursuant to Section 13 or Section 15(d) of the 1934 Act; (iv) each of the Transaction Documents and the transactions
contemplated hereby and thereby, have been duly and validly authorized by Company and all necessary actions have been taken; (v) this
Agreement and the other Transaction Documents have been duly executed and delivered by Company and constitute the valid and binding obligations
of Company enforceable in accordance with their terms, except as such enforceability may be limited by (A) applicable bankruptcy, insolvency,
reorganization, moratorium, fraudulent conveyance, or similar laws affecting the enforcement of creditors’ rights generally, and
(B) general principles of equity (regardless of whether enforceability is considered in a proceeding at law or in equity; (vi) the execution
and delivery of the Transaction Documents by Company, the issuance of the Securities in accordance with the terms hereof, and the consummation
by Company of the other transactions contemplated by the Transaction Documents do not and will not conflict with or result in a breach
by Company of any of the terms or provisions of, or constitute a default under (A) Company’s formation documents, as currently in
effect, or other applicable organizational documents, (B) any indenture, mortgage, deed of trust, or other material agreement or instrument
to which Company is a party or by which it or any of its properties or assets are bound, including, without limitation, any listing agreement
for the Common Shares, or (C) any existing applicable law, rule, or regulation or any applicable decree, judgment, or order of any court,
United States federal, state or foreign regulatory body, administrative agency, or other governmental body having jurisdiction over Company
or any of Company’s properties or assets, except with respect to clauses (B) and (C), such conflict or breach could reasonably be
expected to have a material adverse effect on the business, assets, liabilities, financial condition, or results of operations of Company,
taken as a whole; (vii) except as have been obtained prior to the Closing, no further authorization, approval or consent of any court,
governmental body, regulatory agency, self-regulatory organization, or stock exchange or market or the stockholders or any lender of Company
is required to be obtained by Company for the issuance of the Securities to Investor or the entering into of the Transaction Documents;(viii)
none of Company’s SEC Reports (as hereinafter defined) filed with the SEC since January 1, 2025 contained, at the time they were
filed, any untrue statement of a material fact or omitted to state any material fact required to be stated therein or necessary to make
the statements made therein, in light of the circumstances under which they were made, not misleading; (ix) since January 1, 2025 Company
has filed all reports, schedules, forms, statements and other documents required to be filed by Company with the SEC under the 1934 Act
(the “SEC Reports”}on a timely basis or has received a valid extension of such time of filing and has filed any such
report, schedule, form, statement or other document prior to the expiration of any such extension; (x) to the knowledge of the Company,
there is no action, suit, proceeding, inquiry or investigation before or by any court, public board or body pending or threatened against
or affecting Company or any subsidiary before or by any governmental authority or non-governmental department, commission, board, bureau,
agency or instrumentality or any other person; (xi) since January 1,2025, Company has not consummated any financing transaction that has
not been disclosed in a periodic filing or current report with the SEC under the 1934 Act; (xii) Company is not, nor has it been at any
time in the previous twelve (12) months, a “Shell Company,” as such type of “issuer” is described in Rule 144(i)(1)
under the 1933 Act; (xiii) with respect to any commissions, placement agent or finder’s fees or similar payments that will or would
become due and owing by Company to any person or entity as a result of this Agreement or the transactions contemplated hereby (“Broker
Fees”), any such Broker Fees will be made in full compliance with all applicable laws and regulations and only to a person or
entity that is a registered investment adviser or registered broker-dealer;(xiv) Investor shall have no obligation with respect to any
Broker Fees or with respect to any claims made by or on behalf of other persons for fees of a type contemplated in this subsection that
may be due in connection with the transactions contemplated hereby and Company shall indemnify and hold harmless each of Investor, Investor’s
employees, officers, directors, stockholders, members, managers, agents, and partners, and their respective affiliates, from and against
all claims, losses, damages, costs (including the costs of preparation and reasonable attorneys’ fees) and expenses suffered in
respect of any such claimed Broker Fees; (xv) neither Investor nor any of its officers, members, managers, employees, agents or representatives
has made any representations or warranties to Company or any of its officers, directors, employees, agents or representatives except as
expressly set forth in the Transaction Documents and, in making its decision to enter into the transactions contemplated by the Transaction
Documents, Company is not relying on any representation, warranty, covenant or promise of Investor or its officers, members, managers,
employees, agents or representatives other than as set forth in the Transaction Documents; (xvi) Company acknowledges and agrees that
the State of Utah has a reasonable relationship and sufficient contacts to the transactions contemplated by the Transaction Documents
and any dispute that may arise related thereto such that the laws and venue of the State of Utah, as set forth more specifically in Section
9.2 below, shall be applicable to the Transaction Documents and the transactions contemplated therein, and Company waives any objection
to such jurisdiction and venue; (xvii) Company acknowledges and agrees that Investor is not registered as a ‘dealer’ under
the 1934 Act; (xviii) Company has performed due diligence and background research on Investor and its affiliates and has received
and reviewed the due diligence summary sheet provided by Investor; and (xviii) the Shelf Registration
Statement is currently effective. Company, being aware of the matters and legal issues described in subsections
(xvii) and (xviii) above, acknowledges and agrees that such matters, or any similar matters, have no bearing on the transactions contemplated
by the Transaction Documents and covenants and agrees it will not use any such information or legal theory as a defense to performance
of its obligations under the Transaction Documents or in any attempt to avoid, modify, reduce, rescind or void such obligations.
2
4. Company
Covenants. Until all of Company’s obligations under all of the Transaction Documents are paid and performed in full, or within
the timeframes otherwise specifically set forth below, Company will at all times comply with the following covenants: (i) so long as Investor
beneficially owns the Note and for at least twenty (20) Trading Days (as defined in the Note) thereafter, Company will timely file on
the applicable deadline (subject to applicable extensions), all SEC Reports required to be filed with the SEC pursuant to Sections 13
or 15(d) of the 1934 Act, and will take all reasonable action under its control to ensure that adequate current public information with
respect to Company, as required in accordance with Rule 144 of the 1933 Act, is publicly available, and will not terminate its status
as an issuer required to file reports under the 1934 Act even if the 1934 Act or the rules and regulations thereunder would permit such
termination; (ii) Company will ensure that the Common Shares will remain listed or quoted for trading on NYSE, NYSE American, or Nasdaq;
(iii) Company will ensure that trading in the Common Shares will not be suspended, halted, chilled, frozen, reach zero bid or otherwise
cease trading on Company’s principal trading market; (iv) Company will not make any Restricted Issuance (as defined below) without
Investor’s prior written consent, which consent may be granted or withheld in Investor’s sole and absolute discretion; (v)
Company will not enter into any agreement or otherwise agree to any covenant, condition, or obligation that locks up, restricts in any
way or otherwise prohibits Company: (a) from entering into a variable rate transaction with Investor, or (b) from issuing Common Shares,
preferred stock, warrants, convertible notes, other debt securities, or any other Company securities to Investor; (vi) Company will not,
and will not permit any direct or indirect subsidiary of Company to, directly or indirectly, sell, transfer, assign, pledge, encumber,
distribute (whether by dividend, spin-off or otherwise), or otherwise dispose of any equity interests in any direct or indirect subsidiary
of Company; (vii) Company will not, and will not permit any direct or indirect subsidiary of Company to, issue, sell, or grant any additional
equity interests in any direct or indirect subsidiary of Company, or any options, warrants, or other rights to acquire, or any securities
convertible into or exchangeable for, such equity interests; and (viii) within five (5) Trading Days of the Closing Date, Company will
file a Form 424B prospectus supplement to its Shelf Registration Statement that is reasonably acceptable to Investor
for the registration of all Conversion Shares that may be issuable pursuant to any conversion by Investor under the Note and deliver to
Investor any legal opinions deemed necessary by Investor to trade the Conversion Shares under such Form 424B prospectus.
For purposes hereof, the term
“Restricted Issuance” means (i) the issuance, incurrence or guaranty of any debt obligations (including any merchant
cash advance, account receivable factoring or other similar agreement), other than trade payables in the ordinary course of business,
or (ii) the issuance of any securities that (a) have or may have rights of any kind, contingent, conditional or otherwise, in which the
number of shares that may be issued pursuant to such right varies with the market price of the Common Shares; (b) are or may become convertible
into Common Shares (including, without limitation, convertible debt, warrants, pre-paid purchases or advances, or convertible preferred
shares), with a conversion, purchase or exercise price that varies with the market price of the Common Shares, even if such security only
becomes convertible following an event of default, the passage of time, or another trigger event or condition; (c) have a fixed conversion
price, exercise price or exchange price that is subject to being reset at some future date at any time after the initial issuance of such
debt or equity security (1) due to a change in the market price of Company’s Common Shares since the date of the initial issuance
or (2) upon the occurrence of specified or contingent events directly or indirectly related to the business of Company (including, without
limitation, any “full ratchet” or “weighted average” anti-dilution provisions, but not including any standard
anti-dilution protection for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction); (d) are
issued or will be issued in connection with a Section 3(a)(9) exchange, a Section 3(a)(10) settlement, or any other similar settlement
or exchange; or (e) are issued pursuant to any equity line of credit or similar arrangement. Notwithstanding the foregoing, the following
will not be considered Restricted Issuances: (i) “at-the-market” (ATM) trading facilities; (ii) primary offerings of Common
Shares or warrants without variable price mechanics or any anti-dilution, “alternate cash exercise” or other similar mechanics
or provisions that would allow for the reduction of the exercise price of the warrants or increase the number of shares exercisable under
the Warrants; (iii) debt incurred by Company but only so long as such debt is subordinated to Investor and not convertible into Company’s
equity, and such debt, together with the outstanding balance of the Note, would not cause Company’s total debt to exceed $40,000,000.00;
and (iv) revolving credit facilities from commercial banks.
5. Conditions
to Company’s Obligation to Sell. The obligation of Company hereunder to issue and sell the Note to Investor at the Closing is
subject to the satisfaction, on or before the Closing Date, of each of the following conditions:
5.1. Investor
shall have executed all applicable Transaction Documents and delivered the same to Company.
5.2. Investor
shall have delivered the Purchase Price to Company.
3
6. Conditions
to Investor’s Obligation to Purchase. The obligation of Investor hereunder to purchase the Note is subject to the satisfaction,
on or before the Closing Date, of each of the following conditions, provided that these conditions are for Investor’s sole benefit
and may be waived by Investor at any time in its sole discretion:
6.1. Company
shall have executed all applicable Transaction Documents and delivered the same to Investor.
6.2. The
Subsidiaries shall have executed the Guaranty and delivered the same to Investor.
6.3. SSI
IP shall have executed the Security Agreement and delivered the same to Investor.
6.4. Company’s
transfer agent (the “Transfer Agent”) shall have executed an Irrevocable Transfer Agent Instruction Letter substantially
in the form attached hereto as Exhibit E.
6.5. Company
shall have delivered to Investor a fully executed Officer’s Certificate substantially in the form attached hereto as Exhibit
F evidencing Company’s approval of the Transaction Documents.
6.6. Company
shall have delivered to Investor a fully executed Share Issuance Resolution substantially in the form attached hereto as Exhibit G
to be delivered to the Transfer Agent.
7. Reservation
of Shares. On the date hereof, Company will reserve 8,000,000 Common Shares from its authorized and unissued Common Shares to provide
for all issuances of Conversion Shares under the Note (the “Share Reserve”). Company further agrees to add additional
Common Shares to the Share Reserve in increments of 100,000 shares as and when requested by Investor if as of the date of any such request
the number of Common Shares being held in the Share Reserve is less than three (3) times the number of Common Shares obtained by dividing
the outstanding balance of the Note by the Conversion Price (as defined in the Note). Company shall further require its Transfer Agent
to hold the Common Shares reserved pursuant to the Share Reserve exclusively for the benefit of Investor and to issue such shares to Investor
promptly upon Investor’s delivery of a Conversion Notice (as defined in the Note) or Redemption Notice (as defined in the Note)
under the Note. Company shall require the Transfer Agent to issue Common Shares to Investor out of its authorized and unissued shares,
and not the Share Reserve, to the extent Common Shares have been authorized, but not issued, and are not included in the Share Reserve.
The Transfer Agent shall only issue Common Shares out of the Share Reserve to the extent there are no other authorized shares available
for issuance and then only with Investor’s written consent.
8. Exchange
Cap. Notwithstanding anything to the contrary contained in this Agreement or the other Transaction Documents, Company and Investor
agree that the total cumulative number of Common Shares issued to Investor pursuant to conversions of the Note may not exceed the requirements
of Nasdaq Listing Rule 5635(d) (the “Exchange Cap”), except that such limitation will not apply following shareholder
approval or if otherwise inapplicable.
4
9. Miscellaneous.
The provisions set forth in this Section 9 shall apply to this Agreement, as well as all other Transaction Documents as if these terms
were fully set forth therein; provided, however, that in the event there is a conflict between any provision set forth in
this Section 9 and any provision in any other Transaction Document, the provision in such other Transaction Document shall govern.
9.1. Arbitration
of Claims. The parties shall submit all Claims (as defined in Exhibit H) arising under this Agreement or any other Transaction
Document or any other agreement between the parties and their affiliates or any Claim relating to the relationship of the parties to binding
arbitration pursuant to the arbitration provisions set forth in Exhibit H attached hereto (the “Arbitration Provisions”).
For the avoidance of doubt, the parties agree that the injunction described in Section 9.3 below may be pursued in an arbitration that
is separate and apart from any other arbitration regarding all other Claims arising under the Transaction Documents. The parties hereby
acknowledge and agree that the Arbitration Provisions are unconditionally binding on the parties hereto and are severable from all other
provisions of this Agreement. By executing this Agreement, Company represents, warrants and covenants that Company has reviewed the Arbitration
Provisions carefully, consulted with legal counsel about such provisions (or waived its right to do so), understands that the Arbitration
Provisions are intended to allow for the expeditious and efficient resolution of any dispute hereunder, agrees to the terms and limitations
set forth in the Arbitration Provisions, and that Company will not take a position contrary to the foregoing representations. Company
acknowledges and agrees that Investor may rely upon the foregoing representations, warranties and covenants of Company regarding the Arbitration
Provisions.
9.2. Governing
Law; Venue. This Agreement shall be construed and enforced in accordance with, and all questions concerning the construction, validity,
interpretation and performance of this Agreement shall be governed by, the internal laws of the State of Utah, without giving effect to
any choice of law or conflict of law provision or rule (whether of the State of Utah or any other jurisdiction) that would cause the application
of the laws of any jurisdiction other than the State of Utah. Each party consents to and expressly agrees that the exclusive venue for
arbitration of any dispute arising out of or relating to any Transaction Document or the relationship of the parties or their affiliates
shall be in Salt Lake County, Utah. Without modifying the parties’ obligations to resolve disputes hereunder pursuant to the Arbitration
Provisions, for any litigation arising in connection with any of the Transaction Documents (and notwithstanding the terms (specifically
including any governing law and venue terms) of any transfer agent services agreement or other agreement between the Transfer Agent and
Company, such litigation specifically includes, without limitation any action between or involving Company and the Transfer Agent or otherwise
related to Investor in any way (specifically including, without limitation, any action where Company seeks to obtain an injunction, temporary
restraining order, or otherwise prohibit the Transfer Agent from issuing Common Shares to Investor for any reason)), each party hereto
hereby (i) consents to and expressly submits to the exclusive personal jurisdiction of any state or federal court sitting in Salt Lake
County, Utah, (ii) expressly submits to the exclusive venue of any such court for the purposes hereof, (iii) agrees to not bring any such
action (specifically including, without limitation, any action where Company seeks to obtain an injunction, temporary restraining order,
or otherwise prohibit the Transfer Agent from issuing Common Shares to Investor for any reason) outside of any state or federal court
sitting in Salt Lake County, Utah, and (iv) waives any claim of improper venue and any claim or objection that such courts are an inconvenient
forum or any other claim, defense or objection to the bringing of any such proceeding in such jurisdiction or to any claim that such venue
of the suit, action or proceeding is improper. Finally, Company covenants and agrees to name Investor as a party in interest in, and provide
written notice to Investor in accordance with Section 9.9 below prior to bringing or filing, any action (including without limitation
any filing or action against any person or entity that is not a party to this Agreement, including without limitation the Transfer Agent)
that is related in any way to the Transaction Documents or any transaction contemplated herein or therein, including without limitation
any action brought by Company to enjoin or prevent the issuance of any Common Shares to Investor by the Transfer Agent, and further agrees
to timely name Investor as a party to any such action. Company acknowledges that the governing law and venue provisions set forth in this
Section 9.2 are material terms to induce Investor to enter into the Transaction Documents and that but for Company’s agreements
set forth in this Section 9.2 Investor would not have entered into the Transaction Documents.
5
9.3. Specific
Performance. Company acknowledges and agrees that Investor may suffer irreparable harm in the event that Company fails to perform
any material provision of this Agreement or any of the other Transaction Documents in accordance with its specific terms. It is accordingly
agreed that Investor shall be entitled to one or more injunctions to prevent or cure breaches of the provisions of this Agreement or such
other Transaction Document and to enforce specifically the terms and provisions hereof or thereof, this being in addition to any other
remedy to which Investor may be entitled under the Transaction Documents, at law or in equity. Company specifically agrees that: (i) following
an Event of Default under the Note, Investor shall have the right to seek injunctive relief from a court or an arbitrator prohibiting
Company from issuing any of its Common Shares or preferred stock to any party unless fifty percent (50%) of the gross proceeds received
by Company in connection with such issuance are simultaneously used by Company to make a payment under the Note; (ii) following a breach
of Section 4(v) above, Investor shall have the right to seek injunctive relief from a court or arbitrator invalidating such lock-up; and
(iii) if Company enters into a definitive agreement that contemplates a Fundamental Transaction (as defined in the Note), unless such
agreement contains a closing condition that the Note is repaid in full upon consummation of the transaction or Investor has provided its
written consent to such Fundamental Transaction, Investor shall have the right to seek injunctive relief from a court or arbitrator preventing
the consummation of such transaction. Company specifically acknowledges that Investor’s right to obtain specific performance constitutes
bargained for leverage and that the loss of such leverage would result in irreparable harm to Investor. For the avoidance of doubt, in
the event Investor seeks to obtain an injunction from a court or an arbitrator against Company or specific performance of any provision
of any Transaction Document, such action shall not be a waiver of any right of Investor under any Transaction Document, at law, or in
equity, including without limitation its rights to arbitrate any Claim pursuant to the terms of the Transaction Documents, nor shall Investor’s
pursuit of an injunction prevent Investor, under the doctrines of claim preclusion, issues preclusion, res judicata or other similar legal
doctrines, from pursuing other Claims in the future in a separate arbitration.
9.4. Counterparts.
This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. Counterparts may be delivered via exchange of electronic signatures (including pdf or any electronic
signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart
so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.
9.5. Headings.
The headings of this Agreement are for convenience of reference only and shall not form part of, or affect the interpretation of, this
Agreement.
9.6. Severability.
In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute or rule of law, then such provision
shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform to such statute or rule
of law. Any provision hereof which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of
any other provision hereof.
9.7. Entire
Agreement. This Agreement, together with the other Transaction Documents, contains the entire understanding of the parties with respect
to the matters covered herein and therein and, except as specifically set forth herein or therein, neither Company nor Investor makes
any representation, warranty, covenant or undertaking with respect to such matters. For the avoidance of doubt, all prior term sheets
or other documents between Company and Investor, or any affiliate thereof, related to the transactions contemplated by the Transaction
Documents (collectively, “Prior Agreements”), that may have been entered into between Company and Investor, or any
affiliate thereof, are hereby null and void and deemed to be replaced in their entirety by the Transaction Documents. To the extent there
is a conflict between any term set forth in any Prior Agreement and the term(s) of the Transaction Documents, the Transaction Documents
shall govern.
6
9.8. Amendments.
No provision of this Agreement may be waived or amended other than by an instrument in writing signed by both parties hereto.
9.9. Notices.
Any notice required or permitted hereunder shall be given in writing (unless otherwise specified herein) and shall be deemed effectively
given on the earliest of: (i) the date delivered, if delivered by personal delivery as against written receipt therefor or by email to
an executive officer named below or such officer’s successor, or by facsimile (with successful transmission confirmation which is
kept by sending party), (ii) the earlier of the date delivered or the third Trading Day after deposit, postage prepaid, in the United
States Postal Service by certified mail or with an international courier, or (iii) the earlier of the date delivered or the third Trading
Day after mailing by express courier, with delivery costs and fees prepaid, in each case, addressed to each of the other parties thereunto
entitled at the following addresses (or at such other addresses as such party may designate by five (5) calendar days’ advance written
notice similarly given to each of the other parties hereto):
If to Company:
SS Innovations International,
Inc.
Attn: Sudhir Prem Srivastava
405, 3rd Floor, iLabs Info Technology
Centre
Udyog Vihar, Phase III
Gurugram, Haryana 122016, India
Attention: Chief Executive Officer
With a copy to (which copy shall not constitute notice):
Lewis Brisbois Bisgaard & Smith LLP
Attn: Dale S. Bergman
110 SE 6th Street, Suite 2600
Fort Lauderdale, FL 33437
If to Investor:
Growth Capital Partners, LLC
Attn: Scott Brown
250 E. 200 S., Floor 16
Salt Lake City, Utah 84111
With a copy to (which copy shall not constitute notice):
Capital Law Partners PLLC
Attn: Jonathan Hansen
1873 W. Traverse Parkway Ste. E #610
Lehi, Utah 84048
9.10. Successors
and Assigns. This Agreement or any of the severable rights and obligations inuring to the benefit of or to be performed by Investor
hereunder may be assigned by Investor to a third party, including its affiliates, in whole or in part, without the need to obtain Company’s
consent thereto. Company may not assign its rights or obligations under this Agreement or delegate its duties hereunder, whether directly
or indirectly, without the prior written consent of Investor, and any such attempted assignment or delegation shall be null and void.
7
9.11. Survival.
The representations and warranties of Company and the agreements and covenants set forth in this Agreement shall survive the Closing hereunder
notwithstanding any due diligence investigation conducted by or on behalf of Investor. Company agrees to indemnify and hold harmless Investor
and all its officers, directors, employees, attorneys, and agents for loss or damage arising as a result of or related to any breach or
alleged breach by Company of any of its representations, warranties and covenants set forth in this Agreement or any of its covenants
and obligations under this Agreement, including advancement of expenses as they are incurred.
9.12. Further
Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute
and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to
carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.
9.13. Investor’s
Rights and Remedies Cumulative. All rights, remedies, and powers conferred in this Agreement and the Transaction Documents are cumulative
and not exclusive of any other rights or remedies, and shall be in addition to every other right, power, and remedy that Investor may
have, whether specifically granted in this Agreement or any other Transaction Document, or existing at law, in equity, or by statute,
and any and all such rights and remedies may be exercised from time to time and as often and in such order as Investor may deem expedient.
9.14. Attorneys’
Fees and Cost of Collection. In the event any suit, action or arbitration is filed by either party against the other to interpret
or enforce any of the Transaction Documents, the unsuccessful party to such action agrees to pay to the prevailing party all costs and
expenses, including reasonable attorneys’ fees incurred therein, including the same with respect to an appeal. The “prevailing
party” shall be the party in whose favor a judgment is entered, regardless of whether judgment is entered on all claims asserted
by such party and regardless of the amount of the judgment; or where, due to the assertion of counterclaims, judgments are entered in
favor of and against both parties, then the arbitrator shall determine the “prevailing party.” Nothing herein shall restrict
or impair an arbitrator’s or a court’s power to award fees and expenses for frivolous or bad faith pleading. If (i) the Note
is placed in the hands of an attorney for collection or enforcement prior to commencing arbitration or legal proceedings, or is collected
or enforced through any arbitration or legal proceeding, or Investor otherwise takes action to collect amounts due under the Note or to
enforce the provisions of the Note, or (ii) there occurs any bankruptcy, reorganization, receivership of Company or other proceedings
affecting Company’s creditors’ rights and involving a claim under the Note; then Company shall pay the costs incurred by Investor
for such collection, enforcement or action or in connection with such bankruptcy, reorganization, receivership or other proceeding, including,
without limitation, reasonable attorneys’ fees, expenses, deposition costs, and disbursements.
9.15. Waiver.
No waiver of any provision of this Agreement shall be effective unless it is in the form of a writing signed by the party granting the
waiver. No waiver of any provision or consent to any prohibited action shall constitute a waiver of any other provision or consent to
any other prohibited action, whether or not similar. No waiver or consent shall constitute a continuing waiver or consent or commit a
party to provide a waiver or consent in the future except to the extent specifically set forth in writing.
8
9.16. Waiver
of Jury Trial. EACH PARTY TO THIS AGREEMENT IRREVOCABLY WAIVES ANY AND ALL RIGHTS SUCH PARTY MAY HAVE TO DEMAND THAT ANY ACTION, PROCEEDING
OR COUNTERCLAIM ARISING OUT OF OR IN ANY WAY RELATED TO THIS AGREEMENT, ANY OTHER TRANSACTION DOCUMENT, OR THE RELATIONSHIPS OF THE PARTIES
HERETO BE TRIED BY JURY. THIS WAIVER EXTENDS TO ANY AND ALL RIGHTS TO DEMAND A TRIAL BY JURY ARISING UNDER COMMON LAW OR ANY APPLICABLE
STATUTE, LAW, RULE OR REGULATION. FURTHER, EACH PARTY HERETO ACKNOWLEDGES THAT SUCH PARTY IS KNOWINGLY AND VOLUNTARILY WAIVING SUCH PARTY’S
RIGHT TO DEMAND TRIAL BY JURY.
9.17. Time
is of the Essence. Time is expressly made of the essence with respect to each and every provision of this Agreement and the other
Transaction Documents.
9.18. Voluntary
Agreement. Company has carefully read this Agreement and each of the other Transaction Documents and has asked any questions needed
for Company to understand the terms, consequences and binding effect of this Agreement and each of the other Transaction Documents and
fully understand them. Company has had the opportunity to seek the advice of an attorney of Company’s choosing, or has waived the
right to do so, and is executing this Agreement and each of the other Transaction Documents voluntarily and without any duress or undue
influence by Investor or anyone else.
9.19. Third-Party
Beneficiaries. This Agreement and each of the other Transaction Documents is intended for the benefit of the parties hereto and their
respective permitted successors and assigns. There are no third-party beneficiaries of this Agreement or any other Transaction Document.
Nothing in this Agreement or any other Transaction Document, express or implied, is intended to confer upon any other person any rights,
remedies, obligations or liabilities of any nature whatsoever.
[Remainder of page intentionally left blank;
signature page follows]
9
IN WITNESS WHEREOF, the undersigned
Investor and Company have caused this Agreement to be duly executed as of the date first above written.
INVESTOR:
Growth Capital Partners, LLC
By:
/s/ Scott Brown
Scott Brown, President
COMPANY:
SS Innovations International, Inc.
By:
/s/ Sudhir Prem Srivastava
Sudhir Prem Srivastava, Chief Executive Officer
[Signature Page to Securities Purchase Agreement]
10
ATTACHED EXHIBITS:
Exhibit A Note
Exhibit B Guaranty
Exhibit C Security Agreement
Exhibit D IP Security Agreement
Exhibit E TA Letter
Exhibit F Officer’s Certificate
Exhibit G Share Issuance Resolution
Exhibit H Arbitration Provisions
11
Exhibit
H
ARBITRATION PROVISIONS
1. Dispute
Resolution. For purposes of these arbitration provisions (the “Arbitration Provisions”), the term “Claims”
means any disputes, claims, demands, causes of action, requests for injunctive relief, requests for specific performance, liabilities,
damages, losses, or controversies whatsoever arising from, related to, or connected with the transactions contemplated in the Transaction
Documents and any communications between the parties related thereto, including without limitation any claims of mutual mistake, mistake,
fraud, misrepresentation, failure of formation, failure of consideration, promissory estoppel, unconscionability, failure of condition
precedent, rescission, and any statutory claims, tort claims, contract claims, or claims to void, invalidate or terminate the Agreement
(or these Arbitration Provisions (defined below)) or any of the other Transaction Documents. For the avoidance of doubt, Investor’s
pursuit of an injunction or other Claim pursuant to these Arbitration Provisions or with a court will not later prevent Investor under
the doctrines of claim preclusion, issue preclusion, res judicata or other similar legal doctrines from pursuing other Claims in a separate
arbitration in the future. The parties to the Agreement (the “parties”) hereby agree that the Claims may be arbitrated
in one or more arbitrations pursuant to these Arbitration Provisions (one for an injunction or injunctions and a separate one for all
other Claims). The parties to the Agreement hereby agree that these Arbitration Provisions are binding on each of them. As a result, any
attempt to rescind the Agreement (or these Arbitration Provisions) or any other Transaction Document) or declare the Agreement (or these
Arbitration Provisions) or any other Transaction Document invalid or unenforceable pursuant to Section 29 of the 1934 Act or for any other
reason is subject to these Arbitration Provisions. Any capitalized term not defined in these Arbitration Provisions shall have the meaning
set forth in the Agreement.
2. Arbitration.
Except as otherwise provided herein, all Claims must be submitted to arbitration (“Arbitration”) to be conducted exclusively
in Salt Lake County, Utah and pursuant to the terms set forth in these Arbitration Provisions. Subject to the arbitration appeal right
provided for in Paragraph 5 below (the “Appeal Right”), the parties agree that the award of the arbitrator rendered
pursuant to Paragraph 4 below (the “Arbitration Award”) shall be (a) final and binding upon the parties, (b) the sole
and exclusive remedy between them regarding any Claims, counterclaims, issues, or accountings presented or pleaded to the arbitrator,
and (c) promptly payable in United States dollars free of any tax, deduction or offset (with respect to monetary awards). Subject to the
Appeal Right, any costs or fees, including without limitation reasonable attorneys’ fees, incurred in connection with or incident
to enforcing the Arbitration Award shall, to the maximum extent permitted by law, be charged against the party resisting such enforcement.
The Arbitration Award shall include default interest (as defined or otherwise provided for in the Note, “Default Interest”)
(with respect to monetary awards) at the rate specified in the Note for Default Interest both before and after the Arbitration Award.
Judgment upon the Arbitration Award will be entered and enforced by any state or federal court sitting in Salt Lake County, Utah.
3. The
Arbitration Act. The parties hereby incorporate herein the provisions and procedures set forth in the Utah Uniform Arbitration Act,
U.C.A. § 78B-11-101 et seq. (as amended or superseded from time to time, the “Arbitration Act”). Notwithstanding
the foregoing, pursuant to, and to the maximum extent permitted by, Section 105 of the Arbitration Act, in the event of conflict or variation
between the terms of these Arbitration Provisions and the provisions of the Arbitration Act, the terms of these Arbitration Provisions
shall control and the parties hereby waive or otherwise agree to vary the effect of all requirements of the Arbitration Act that may conflict
with or vary from these Arbitration Provisions.
4. Arbitration
Proceedings. Arbitration between the parties will be subject to the following:
4.1 Initiation
of Arbitration. Pursuant to Section 110 of the Arbitration Act, the parties agree that a party may initiate Arbitration by giving
written notice to the other party (“Arbitration Notice”) in the same manner that notice is permitted under Section
9.9 of the Agreement (the “Notice Provision”); provided, however, that the Arbitration Notice may not be given
by email or fax. Arbitration will be deemed initiated as of the date that the Arbitration Notice is deemed delivered to such other party
under the Notice Provision (the “Service Date”). After the Service Date, information may be delivered, and notices
may be given, by email or fax pursuant to the Notice Provision or any other method permitted thereunder. The Arbitration Notice must describe
the nature of the controversy, the remedies sought, and the election to commence Arbitration proceedings. All Claims in the Arbitration
Notice must be pleaded consistent with the Utah Rules of Civil Procedure.
12
4.2 Selection
and Payment of Arbitrator.
(a) Within ten (10) calendar
days after the Service Date, Investor shall select and submit to Company the names of three (3) arbitrators that are designated as “neutrals”
or qualified arbitrators by Utah ADR Services (http://www.utahadrservices.com) (such three
(3) designated persons hereunder are referred to herein as the “Proposed Arbitrators”). For the avoidance of doubt,
each Proposed Arbitrator must be qualified as a “neutral” with Utah ADR Services. Within five (5) calendar days after Investor
has submitted to Company the names of the Proposed Arbitrators, Company must select, by written notice to Investor, one (1) of the Proposed
Arbitrators to act as the arbitrator for the parties under these Arbitration Provisions. If Company fails to select one of the Proposed
Arbitrators in writing within such 5-day period, then Investor may select the arbitrator from the Proposed Arbitrators by providing written
notice of such selection to Company.
(b) If Investor fails
to submit to Company the Proposed Arbitrators within ten (10) calendar days after the Service Date pursuant to subparagraph (a) above,
then Company may at any time prior to Investor so designating the Proposed Arbitrators, identify the names of three (3) arbitrators that
are designated as “neutrals” or qualified arbitrators by Utah ADR Service by written notice to Investor. Investor may then,
within five (5) calendar days after Company has submitted notice of its Proposed Arbitrators to Investor, select, by written notice to
Company, one (1) of the Proposed Arbitrators to act as the arbitrator for the parties under these Arbitration Provisions. If Investor
fails to select in writing and within such 5-day period one (1) of the three (3) Proposed Arbitrators selected by Company, then Company
may select the arbitrator from its three (3) previously selected Proposed Arbitrators by providing written notice of such selection to
Investor.
(c) If a Proposed Arbitrator
chosen to serve as arbitrator declines or is otherwise unable to serve as arbitrator, then the party that selected such Proposed Arbitrator
may select one (1) of the other two (2) Proposed Arbitrators within three (3) calendar days of the date the chosen Proposed Arbitrator
declines or notifies the parties he or she is unable to serve as arbitrator. If all three (3) Proposed Arbitrators decline or are otherwise
unable to serve as arbitrator, then the arbitrator selection process shall begin again in accordance with this Paragraph 4.2.
(d) The date that the
Proposed Arbitrator selected pursuant to this Paragraph 4.2 agrees in writing (including via email) delivered to both parties to serve
as the arbitrator hereunder is referred to herein as the “Arbitration Commencement Date”. If an arbitrator resigns
or is unable to act during the Arbitration, a replacement arbitrator shall be chosen in accordance with this Paragraph 4.2 to continue
the Arbitration. If Utah ADR Services ceases to exist or to provide a list of neutrals and there is no successor thereto, then the arbitrator
shall be selected under then prevailing rules of the American Arbitration Association.
(e) Subject to Paragraph
4.10 below, the cost of the arbitrator must be paid equally by both parties. Subject to Paragraph 4.10 below, if one party refuses or
fails to pay its portion of the arbitrator fee, then the other party can advance such unpaid amount (subject to the accrual of Default
Interest thereupon), with such amount being added to or subtracted from, as applicable, the Arbitration Award.
4.3 Applicability
of Certain Utah Rules. The parties agree that the Arbitration shall be conducted generally in accordance with the Utah Rules of Civil
Procedure and the Utah Rules of Evidence. More specifically, the Utah Rules of Civil Procedure shall apply, without limitation, to the
filing of any pleadings, motions or memoranda, the conducting of discovery, and the taking of any depositions. The Utah Rules of Evidence
shall apply to any hearings, whether telephonic or in person, held by the arbitrator. Notwithstanding the foregoing, it is the parties’
intent that the incorporation of such rules will in no event supersede these Arbitration Provisions. In the event of any conflict between
the Utah Rules of Civil Procedure or the Utah Rules of Evidence and these Arbitration Provisions, these Arbitration Provisions shall control.
4.4 Answer
and Default. An answer and any counterclaims to the Arbitration Notice shall be required to be delivered to the party initiating the
Arbitration within twenty (20) calendar days after the Arbitration Commencement Date. If an answer is not delivered by the required deadline,
the arbitrator must provide written notice to the defaulting party stating that the arbitrator will enter a default award against such
party if such party does not file an answer within five (5) calendar days of receipt of such notice. If an answer is not filed within
the five (5) day extension period, the arbitrator must render a default award, consistent with the relief requested in the Arbitration
Notice, against a party that fails to submit an answer within such time period.
13
4.5 Related
Litigation. The party that delivers the Arbitration Notice to the other party shall have the option to also commence concurrent legal
proceedings with any state or federal court sitting in Salt Lake County, Utah (“Litigation Proceedings”), subject to
the following: (a) the complaint in the Litigation Proceedings is to be substantially similar to the claims set forth in the Arbitration
Notice, provided that an additional cause of action to compel arbitration will also be included therein, (b) so long as the other party
files an answer to the complaint in the Litigation Proceedings and an answer to the Arbitration Notice, the Litigation Proceedings will
be stayed pending an Arbitration Award (or Appeal Panel Award (defined below), as applicable) hereunder, (c) if the other party fails
to file an answer in the Litigation Proceedings or an answer in the Arbitration proceedings, then the party initiating Arbitration shall
be entitled to a default judgment consistent with the relief requested, to be entered in the Litigation Proceedings, and (d) any legal
or procedural issue arising under the Arbitration Act that requires a decision of a court of competent jurisdiction may be determined
in the Litigation Proceedings. Any award of the arbitrator (or of the Appeal Panel (defined below)) may be entered in such Litigation
Proceedings pursuant to the Arbitration Act. In the event either party successfully petitions a court to compel arbitration, the losing
party in such action shall be required to pay the prevailing party’s reasonable attorneys’ fees and costs incurred in connection
with such action.
4.6 Discovery.
Pursuant to Section 118(8) of the Arbitration Act, the parties agree that discovery shall be conducted as follows:
(a) Written discovery
will only be allowed if the likely benefits of the proposed written discovery outweigh the burden or expense thereof, and the written
discovery sought is likely to reveal information that will satisfy a specific element of a claim or defense already pleaded in the Arbitration.
The party seeking written discovery shall always have the burden of showing that all of the standards and limitations set forth in these
Arbitration Provisions are satisfied. The scope of discovery in the Arbitration proceedings shall also be limited as follows:
(i) To
facts directly connected with the transactions contemplated by the Agreement.
(ii) To
facts and information that cannot be obtained from another source or in another manner that is more convenient, less burdensome or less
expensive than in the manner requested.
(b) No party shall be
allowed (i) more than fifteen (15) interrogatories (including discrete subparts), (ii) more than fifteen (15) requests for admission (including
discrete subparts), (iii) more than ten (10) document requests (including discrete subparts), or (iv) more than three (3) depositions
(excluding expert depositions) for a maximum of seven (7) hours per deposition. The costs associated with depositions will be borne by
the party taking the deposition. The party defending the deposition will submit a notice to the party taking the deposition of the estimated
attorneys’ fees that such party expects to incur in connection with defending the deposition. If the party defending the deposition
fails to submit an estimate of attorneys’ fees within five (5) calendar days of its receipt of a deposition notice, then such party
shall be deemed to have waived its right to the estimated attorneys’ fees. The party taking the deposition must pay the party defending
the deposition the estimated attorneys’ fees prior to taking the deposition, unless such obligation is deemed to be waived as set
forth in the immediately preceding sentence. If the party taking the deposition believes that the estimated attorneys’ fees are
unreasonable, such party may submit the issue to the arbitrator for a decision. All depositions will be taken in Utah.
(c) All discovery requests
(including document production requests included in deposition notices) must be submitted in writing to the arbitrator and the other party.
The party submitting the written discovery requests must include with such discovery requests a detailed explanation of how the proposed
discovery requests satisfy the requirements of these Arbitration Provisions and the Utah Rules of Civil Procedure. The receiving party
will then be allowed, within five (5) calendar days of receiving the proposed discovery requests, to submit to the arbitrator an estimate
of the attorneys’ fees and costs associated with responding to such written discovery requests and a written challenge to each applicable
discovery request. After receipt of an estimate of attorneys’ fees and costs and/or challenge(s) to one or more discovery requests,
consistent with subparagraph (c) above, the arbitrator will within three (3) calendar days make a finding as to the likely attorneys’
fees and costs associated with responding to the discovery requests and issue an order that (i) requires the requesting party to prepay
the attorneys’ fees and costs associated with responding to the discovery requests, and (ii) requires the responding party to respond
to the discovery requests as limited by the arbitrator within twenty-five (25) calendar days of the arbitrator’s finding with respect
to such discovery requests. If a party entitled to submit an estimate of attorneys’ fees and costs and/or a challenge to discovery
requests fails to do so within such 5-day period, the arbitrator will make a finding that (A) there are no attorneys’ fees or costs
associated with responding to such discovery requests, and (B) the responding party must respond to such discovery requests (as may be
limited by the arbitrator) within twenty-five (25) calendar days of the arbitrator’s finding with respect to such discovery requests.
Any party submitting any written discovery requests, including without limitation interrogatories, requests for production subpoenas to
a party or a third party, or requests for admissions, must prepay the estimated attorneys’ fees and costs, before the responding
party has any obligation to produce or respond to the same, unless such obligation is deemed waived as set forth above.
14
(d) In order to allow
a written discovery request, the arbitrator must find that the discovery request satisfies the standards set forth in these Arbitration
Provisions and the Utah Rules of Civil Procedure. The arbitrator must strictly enforce these standards. If a discovery request does not
satisfy any of the standards set forth in these Arbitration Provisions or the Utah Rules of Civil Procedure, the arbitrator may modify
such discovery request to satisfy the applicable standards, or strike such discovery request in whole or in part.
(e) Each party may submit
expert reports (and rebuttals thereto), provided that such reports must be submitted within sixty (60) days of the Arbitration Commencement
Date. Each party will be allowed a maximum of two (2) experts. Expert reports must contain the following: (i) a complete statement of
all opinions the expert will offer at trial and the basis and reasons for them; (ii) the expert’s name and qualifications, including
a list of all the expert’s publications within the preceding ten (10) years, and a list of any other cases in which the expert has
testified at trial or in a deposition or prepared a report within the preceding ten (10) years; and (iii) the compensation to be paid
for the expert’s report and testimony. The parties are entitled to depose any other party’s expert witness one (1) time for
no more than four (4) hours. An expert may not testify in a party’s case-in-chief concerning any matter not fairly disclosed in
the expert report.
4.7 Dispositive
Motions. Each party shall have the right to submit dispositive motions pursuant Rule 12 or Rule 56 of the Utah Rules of Civil Procedure
(a “Dispositive Motion”). The party submitting the Dispositive Motion may, but is not required to, deliver to the arbitrator
and to the other party a memorandum in support (the “Memorandum in Support”) of the Dispositive Motion. Within seven
(7) calendar days of delivery of the Memorandum in Support, the other party shall deliver to the arbitrator and to the other party a memorandum
in opposition to the Memorandum in Support (the “Memorandum in Opposition”). Within seven (7) calendar days of delivery
of the Memorandum in Opposition, as applicable, the party that submitted the Memorandum in Support shall deliver to the arbitrator and
to the other party a reply memorandum to the Memorandum in Opposition (“Reply Memorandum”). If the applicable party
shall fail to deliver the Memorandum in Opposition as required above, or if the other party fails to deliver the Reply Memorandum as required
above, then the applicable party shall lose its right to so deliver the same, and the Dispositive Motion shall proceed regardless.
4.8 Confidentiality.
All information disclosed by either party (or such party’s agents) during the Arbitration process (including without limitation
information disclosed during the discovery process or any Appeal (defined below)) shall be considered confidential in nature. Each party
agrees not to disclose any confidential information received from the other party (or its agents) during the Arbitration process (including
without limitation during the discovery process or any Appeal) unless (a) prior to or after the time of disclosure such information becomes
public knowledge or part of the public domain, not as a result of any inaction or action of the receiving party or its agents, (b) such
information is required by a court order, subpoena or similar legal duress to be disclosed if such receiving party has notified the other
party thereof in writing and given it a reasonable opportunity to obtain a protective order from a court of competent jurisdiction prior
to disclosure, or (c) such information is disclosed to the receiving party’s agents, representatives and legal counsel on a need
to know basis who each agree in writing not to disclose such information to any third party. Pursuant to Section 118(5) of the Arbitration
Act, the arbitrator is hereby authorized and directed to issue a protective order to prevent the disclosure of privileged information
and confidential information upon the written request of either party.
4.9 Authorization;
Timing; Scheduling Order. Subject to all other sections of these Arbitration Provisions, the parties hereby authorize and direct the
arbitrator to take such actions and make such rulings as may be necessary to carry out the parties’ intent for the Arbitration proceedings
to be efficient and expeditious. Pursuant to Section 120 of the Arbitration Act, the parties hereby agree that an Arbitration Award must
be made within one hundred twenty (120) calendar days after the Arbitration Commencement Date. The arbitrator is hereby authorized and
directed to hold a scheduling conference within ten (10) calendar days after the Arbitration Commencement Date in order to establish a
scheduling order with various binding deadlines for discovery, expert testimony, and the submission of documents by the parties to enable
the arbitrator to render a decision prior to the end of such 120-day period.
15
4.10 Relief.
The arbitrator shall have the right to award or include in the Arbitration Award (or in a preliminary ruling) any relief which the arbitrator
deems proper under the circumstances, including, without limitation, specific performance and injunctive relief, provided that the arbitrator
may not award exemplary or punitive damages.
4.11 Fees
and Costs. As part of the Arbitration Award, the arbitrator is hereby directed to require the losing party (the party being awarded
the least amount of money by the arbitrator, which, for the avoidance of doubt, shall be determined without regard to any statutory fines,
penalties, fees, or other charges awarded to any party) to (a) pay the full amount of any unpaid costs and fees of the Arbitration, and
(b) reimburse the prevailing party for all reasonable attorneys’ fees, arbitrator costs and fees, deposition costs, other discovery
costs, and other expenses, costs or fees paid or otherwise incurred by the prevailing party in connection with the Arbitration.
4.12 Motion
to Vacate. Following the entry of the Arbitration Award, if either party desires to file a Motion to Vacate the Arbitration Award
with a court in Salt Lake County, Utah, it must do so within the earlier of: (a) thirty (30) days of entry of the Arbitration Award; and
(b) in response to the prevailing party’s Motion to Confirm the Arbitration Award.
5. Arbitration
Appeal.
5.1 Initiation
of Appeal. Following the entry of the Arbitration Award, either party (the “Appellant”) shall have a period of
thirty (30) calendar days in which to notify the other party (the “Appellee”), in writing, that the Appellant elects
to appeal (the “Appeal”) the Arbitration Award (such notice, an “Appeal Notice”) to a panel of arbitrators
as provided in Paragraph 5.2 below. The date the Appellant delivers an Appeal Notice to the Appellee is referred to herein as the “Appeal
Date”. The Appeal Notice must be delivered to the Appellee in accordance with the provisions of Paragraph 4.1 above with respect
to delivery of an Arbitration Notice. In addition, together with delivery of the Appeal Notice to the Appellee, the Appellant must also
pay for (and provide proof of such payment to the Appellee together with delivery of the Appeal Notice) a bond in the amount of 110% of
the sum the Appellant owes to the Appellee as a result of the Arbitration Award the Appellant is appealing. In the event an Appellant
delivers an Appeal Notice to the Appellee (together with proof of payment of the applicable bond) in compliance with the provisions of
this Paragraph 5.1, the Appeal will occur as a matter of right and, except as specifically set forth herein, will not be further conditioned.
In the event a party does not deliver an Appeal Notice (along with proof of payment of the applicable bond) to the other party within
the deadline prescribed in this Paragraph 5.1, such party shall lose its right to appeal the Arbitration Award. The Arbitration Award
will be considered final until the Appeal Notice has been properly delivered and the applicable appeal bond has been posted (along with
proof of payment of the applicable bond). The parties acknowledge and agree that any Appeal shall be deemed part of the parties’
agreement to arbitrate for purposes of these Arbitration Provisions and the Arbitration Act.
5.2 Selection
and Payment of Appeal Panel. In the event an Appellant delivers an Appeal Notice to the Appellee (together with proof of payment of
the applicable bond) in compliance with the provisions of Paragraph 5.1 above, the Appeal will be heard by a three (3) person arbitration
panel (the “Appeal Panel”).
(a) Within ten (10)
calendar days after the Appeal Date, the Appellee shall select and submit to the Appellant the names of five (5) arbitrators that are
designated as “neutrals” or qualified arbitrators by Utah ADR Services (http://www.utahadrservices.com)
(such five (5) designated persons hereunder are referred to herein as the “Proposed Appeal Arbitrators”). For the avoidance
of doubt, each Proposed Appeal Arbitrator must be qualified as a “neutral” with Utah ADR Services, and shall not be the arbitrator
who rendered the Arbitration Award being appealed (the “Original Arbitrator”). Within five (5) calendar days after
the Appellee has submitted to the Appellant the names of the Proposed Appeal Arbitrators, the Appellant must select, by written notice
to the Appellee, three (3) of the Proposed Appeal Arbitrators to act as the members of the Appeal Panel. If the Appellant fails to select
three (3) of the Proposed Appeal Arbitrators in writing within such 5-day period, then the Appellee may select such three (3) arbitrators
from the Proposed Appeal Arbitrators by providing written notice of such selection to the Appellant.
(b) If the Appellee
fails to submit to the Appellant the names of the Proposed Appeal Arbitrators within ten (10) calendar days after the Appeal Date pursuant
to subparagraph (a) above, then the Appellant may at any time prior to the Appellee so designating the Proposed Appeal Arbitrators, identify
the names of five (5) arbitrators that are designated as “neutrals” or qualified arbitrators by Utah ADR Service (none of
whom may be the Original Arbitrator) by written notice to the Appellee. The Appellee may then, within five (5) calendar days after the
Appellant has submitted notice of its selected arbitrators to the Appellee, select, by written notice to the Appellant, three (3) of such
selected arbitrators to serve on the Appeal Panel. If the Appellee fails to select in writing within such 5-day period three (3) of the
arbitrators selected by the Appellant to serve as the members of the Appeal Panel, then the Appellant may select the three (3) members
of the Appeal Panel from the Appellant’s list of five (5) arbitrators by providing written notice of such selection to the Appellee.
16
(c) If a selected
Proposed Appeal Arbitrator declines or is otherwise unable to serve, then the party that selected such Proposed Appeal Arbitrator may
select one (1) of the remaining designated Proposed Appeal Arbitrators within three (3) calendar days of the date a chosen Proposed Appeal
Arbitrator declines or notifies the parties he or she is unable to serve as an arbitrator. If at least three (3) of the five (5) designated
Proposed Appeal Arbitrators decline or are otherwise unable to serve, then the Proposed Appeal Arbitrator selection process shall begin
again in accordance with this Paragraph 5.2; provided, however, that any Proposed Appeal Arbitrators who have already agreed to
serve shall remain on the Appeal Panel.
(d) The date that
all three (3) Proposed Appeal Arbitrators selected pursuant to this Paragraph 5.2 agree in writing (including via email) delivered to
both the Appellant and the Appellee to serve as members of the Appeal Panel hereunder is referred to herein as the “Appeal Commencement
Date”. No later than five (5) calendar days after the Appeal Commencement Date, the Appellee shall designate in writing (including
via email) to the Appellant and the Appeal Panel the name of one (1) of the three (3) members of the Appeal Panel to serve as the lead
arbitrator in the Appeal proceedings. Each member of the Appeal Panel shall be deemed an arbitrator for purposes of these Arbitration
Provisions and the Arbitration Act, provided that, in conducting the Appeal, the Appeal Panel may only act or make determinations upon
the approval or vote of no less than the majority vote of its members, as announced or communicated by the lead arbitrator on the Appeal
Panel. If an arbitrator on the Appeal Panel ceases or is unable to act during the Appeal proceedings,
a replacement arbitrator shall be chosen in accordance with Paragraph 5.2 above to continue the Appeal as a member of the Appeal Panel.
If Utah ADR Services ceases to exist or to provide a list of neutrals, then the arbitrators for the Appeal Panel shall be selected
under the then prevailing rules of the American Arbitration Association.
(e) Subject to Paragraph
5.7 below, the cost of the Appeal Panel must be paid entirely by the Appellant.
5.3 Appeal
Procedure. The Appeal will be deemed an appeal of the entire Arbitration Award. In conducting the Appeal, the Appeal Panel shall conduct
a de novo review of all Claims described or otherwise set forth in the Arbitration Notice. Subject to the foregoing and all other provisions
of this Paragraph 5, the Appeal Panel shall conduct the Appeal in a manner the Appeal Panel considers appropriate for a fair and expeditious
disposition of the Appeal, may hold one or more hearings and permit oral argument, and may review all previous evidence and discovery,
together with all briefs, pleadings and other documents filed with the Original Arbitrator (as well as any documents filed with the Appeal
Panel pursuant to Paragraph 5.4(a) below). Notwithstanding the foregoing, in connection with the Appeal, the Appeal Panel shall not permit
the parties to conduct any additional discovery or raise any new Claims to be arbitrated, shall not permit new witnesses or affidavits,
and shall not base any of its findings or determinations on the Original Arbitrator’s findings or the Arbitration Award.
5.4 Timing.
(a) Within
seven (7) calendar days of the Appeal Commencement Date, the Appellant (i) shall deliver or cause to be delivered to the Appeal Panel
copies of the Appeal Notice, all discovery conducted in connection with the Arbitration, and all briefs, pleadings and other documents
filed with the Original Arbitrator (which material Appellee shall have the right to review and supplement if necessary), and (ii) may,
but is not required to, deliver to the Appeal Panel and to the Appellee a Memorandum in Support of the Appellant’s arguments concerning
or position with respect to all Claims, counterclaims, issues, or accountings presented or pleaded in the Arbitration. Within seven (7)
calendar days of the Appellant’s delivery of the Memorandum in Support, as applicable, the Appellee shall deliver to the Appeal
Panel and to the Appellant a Memorandum in Opposition to the Memorandum in Support. Within seven (7) calendar days of the Appellee’s
delivery of the Memorandum in Opposition, as applicable, the Appellant shall deliver to the Appeal Panel and to the Appellee a Reply Memorandum
to the Memorandum in Opposition. If the Appellant shall fail to substantially comply with the requirements of clause (i) of this subparagraph
(a), the Appellant shall lose its right to appeal the Arbitration Award, and the Arbitration Award shall be final. If the Appellee shall
fail to deliver the Memorandum in Opposition as required above, or if the Appellant shall fail to deliver the Reply Memorandum as required
above, then the Appellee or the Appellant, as the case may be, shall lose its right to so deliver the same, and the Appeal shall proceed
regardless.
17
(b) Subject
to subparagraph (a) above, the parties hereby agree that the Appeal must be heard by the Appeal Panel within thirty (30) calendar days
of the Appeal Commencement Date, and that the Appeal Panel must render its decision within thirty (30) calendar days after the Appeal
is heard (and in no event later than sixty (60) calendar days after the Appeal Commencement Date).
5.5 Appeal
Panel Award. The Appeal Panel shall issue its decision (the “Appeal Panel Award”) through the lead arbitrator on
the Appeal Panel. Notwithstanding any other provision contained herein, the Appeal Panel Award shall (a) supersede in its entirety and
make of no further force or effect the Arbitration Award (provided that any protective orders issued by the Original Arbitrator shall
remain in full force and effect), (b) be final and binding upon the parties, with no further rights of appeal, (c) be the sole and exclusive
remedy between the parties regarding any Claims, counterclaims, issues, or accountings presented or pleaded in the Arbitration, and (d)
be promptly payable in United States dollars free of any tax, deduction or offset (with respect to monetary awards). Any costs or fees,
including without limitation reasonable attorneys’ fees, incurred in connection with or incident to enforcing the Appeal Panel Award
shall, to the maximum extent permitted by law, be charged against the party resisting such enforcement. The Appeal Panel Award shall include
Default Interest (with respect to monetary awards) at the rate specified in the Note for Default Interest both before and after the Appeal
Panel Award. Judgment upon the Appeal Panel Award will be entered and enforced by a state or federal court sitting in Salt Lake County,
Utah.
5.6 Relief.
The Appeal Panel shall have the right to award or include in the Appeal Panel Award any relief which the Appeal Panel deems proper
under the circumstances, including, without limitation, specific performance and injunctive relief, provided that the Appeal Panel may
not award exemplary or punitive damages.
5.7 Fees
and Costs. As part of the Appeal Panel Award, the Appeal Panel is hereby directed to require the losing party (the party being awarded
the least amount of money by the arbitrator, which, for the avoidance of doubt, shall be determined without regard to any statutory fines,
penalties, fees, or other charges awarded to any party) to (a) pay the full amount of any unpaid costs and fees of the Arbitration and
the Appeal Panel, and (b) reimburse the prevailing party (the party being awarded the most amount of money by the Appeal Panel, which,
for the avoidance of doubt, shall be determined without regard to any statutory fines, penalties, fees, or other charges awarded to any
party) the reasonable attorneys’ fees, arbitrator and Appeal Panel costs and fees, deposition costs, other discovery costs, and
other expenses, costs or fees paid or otherwise incurred by the prevailing party in connection with the Arbitration (including without
limitation in connection with the Appeal).
6. Miscellaneous.
6.1 Severability.
If any part of these Arbitration Provisions is found to violate or be illegal under applicable law, then such provision shall be modified
to the minimum extent necessary to make such provision enforceable under applicable law, and the remainder of the Arbitration Provisions
shall remain unaffected and in full force and effect.
6.2 Governing
Law. These Arbitration Provisions shall be governed by the laws of the State of Utah without regard to the conflict of laws principles
therein.
6.3 Interpretation.
The headings of these Arbitration Provisions are for convenience of reference only and shall not form part of, or affect the interpretation
of, these Arbitration Provisions.
6.4 Waiver.
No waiver of any provision of these Arbitration Provisions shall be effective unless it is in the form of a writing signed by the party
granting the waiver.
6.5 Time
is of the Essence. Time is expressly made of the essence with respect to each and every provision of these Arbitration Provisions.
[Remainder of page intentionally left blank]
18
EX-10.2 — IP SECURITY AGREEMENT, DATED OCTOBER 9, 2026
EX-10.2
Filename: ea030806201ex10-2.htm · Sequence: 5
Exhibit 10.2
INTELLECTUAL
PROPERTY SECURITY AGREEMENT
This
INTELLECTUAL PROPERTY SECURITY AGREEMENT (“IP Security Agreement”), dated as of October 9, 2026, is made by SSI IP
HOLDINGS, INC., a Delaware corporation (“Guarantor”), in favor of GROWTH CAPITAL PARTNERS, LLC, a Utah limited liability
company (the “Secured Party”).
A. SS
Innovations International, Inc., a Florida corporation and parent company of Guarantor (“Debtor”),
issued to Secured Party that certain Secured Convertible Promissory Note of even date herewith
in the original principal amount of $21,025,000.00 (the “Note”), pursuant
to that certain Securities Purchase Agreement of even date herewith by and between Debtor
and Secured Party (the “Purchase Agreement”).
B. In
order to induce Secured Party to purchase the Note, Guarantor has agreed to enter into that
certain Guaranty of even date herewith by and between Guarantor and Secured Party (the “Guaranty”),
and that certain Security Agreement of even date herewith by and among Guarantor, Debtor
and Secured Party (the “Security Agreement”) and to grant Secured Party
a security interest in certain “Collateral” as defined in the Security Agreement.
C. Under
the terms of the Security Agreement, Guarantor has granted to the Secured Party a security
interest in, among other property, certain intellectual property of Guarantor, and has agreed
to execute and deliver this IP Security Agreement for recording with governmental authorities,
including, but not limited to, the United States Patent and Trademark Office and the United
States Copyright Office.
NOW
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
1.
Grant of Security.
Guarantor hereby pledges and grants to Secured Party a security interest in and to all of the right, title, and interest of such Guarantor
in, to, and under the following (the “IP Collateral”):
(a)
the patents and patent applications set forth on Schedule 1 hereto and all reissues, divisions, continuations, continuations-in-part,
renewals, extensions, and reexaminations thereof, and amendments thereto;
(b)
the trademark registrations and applications set forth on Schedule 1 hereto, together with the goodwill connected with the use
thereof and symbolized thereby, and all extensions and renewals thereof;
(c)
the copyright registrations and applications set forth on Schedule 1 hereto, and all extensions and renewals thereof;
(d)
all rights of any kind whatsoever of Guarantor accruing under any of the foregoing provided by applicable law of any jurisdiction, by
international treaties and conventions and otherwise throughout the world;
(e)
any and all royalties, fees, income, payments, and other proceeds now or hereafter due or payable with respect to any and all of the
foregoing; and
(f)
any and all claims and causes of action with respect to any of the foregoing, whether occurring before, on, or after the date hereof,
including all rights to and claims for damages, restitution, and injunctive and other legal and equitable relief for past, present, and
future infringement, dilution, misappropriation, violation, misuse, breach, or default, with the right but no obligation to sue for such
legal and equitable relief and to collect, or otherwise recover, any such damages.
2.
Recordation. Guarantor authorizes
the Commissioner for Patents, the Commissioner for Trademarks, and the Register of Copyrights to record and register this IP Security
Agreement upon request by the Secured Party.
3.
Loan Documents.
This IP Security Agreement has been entered into pursuant to and in conjunction with the Security Agreement, the Purchase Agreement,
the Note and all other documents related thereto and entered into in connection therewith (the “Loan Documents”),
which are hereby incorporated by reference. The provisions of the Loan Documents shall supersede and control over any conflicting or
inconsistent provision herein. The rights and remedies of the Secured Party with respect to the IP Collateral are as provided by the
Loan Documents and nothing in this IP Security Agreement shall be deemed to limit such rights and remedies.
4.
General Representations and Warranties. In addition to those representations and warranties made in the Security Agreement, Guarantor
hereby represents and warrants to Secured Party that:
(a)
Guarantor owns, has independently developed, and has
the valid right to encumber, use, possess, develop, sell, license, copy, distribute, market, advertise and/or dispose of all IP Collateral.
(b)
To the Guarantor’s knowledge, the IP Collateral does not infringe,
whether indirectly (e.g., contributorily or by induced infringement) or directly, upon any copyright, trademark, trade dress, trade secret
or patent or other proprietary or intellectual property right of any third party in the United States or in any country or jurisdiction
worldwide, and that no third party in the United States or in any country or jurisdiction worldwide has made any infringement or misappropriation
claims against Guarantor regarding the IP Collateral.
(c)
The IP Collateral is free and clear of any liens or
other encumbrances, other than the security interest granted to Secured Party pursuant to the Loan Documents.
(d)
Unless otherwise specified in Schedule 1, all applications and registrations related to the IP Collateral are, to the Guarantor’s
knowledge, valid, enforceable, subsisting, and have not expired, been revoked or cancelled for failure to prosecute, and all issuance,
renewal, maintenance and other payments that are or have become due with respect thereto have been timely paid by or on behalf of the
Guarantor.
2
(e)
Guarantor has not assigned any right, title or interest in the IP Collateral to any third party.
(f)
There is no pending or to the Guarantor’s knowledge, threatened claim or litigation contesting the validity or ownership of the
IP Collateral. To the Guarantor’s knowledge, there is no legitimate basis for any such claim, nor has Guarantor received any notice
asserting that any IP Collateral or the proposed encumbrance, use, sale, license or disposition thereof conflicts or shall conflict with
the rights of any other party, nor to the Guarantor’s knowledge is there any legitimate basis for any such assertion.
(g)
Guarantor represents and warrants to Secured Party that
Schedule 1 attached hereto is a true, complete and accurate list of all patents, patent applications, trademarks, trademark applications,
copyrights, and copyright applications owned by Guarantor.
5.
Execution in Counterparts. This IP
Security Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. Counterparts may be delivered via electronic signature (including pdf or any electronic
signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart
so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.
6.
Successors and Assigns.
This IP Security Agreement will be binding on and shall inure to the benefit of the parties hereto and their respective successors and
assigns. This IP Security Agreement may be assigned by Secured Party to its affiliates that are permitted assignees of the Note, upon
prior written notice to Guarantor, without the need to obtain Guarantor’s consent thereto, provided that any such assignee agrees
in writing to be bound by the terms of all Transaction Documents (as defined in the Purchase Agreement) as though an original party thereto.
Except as set forth above, neither Secured Party nor Guarantor may assign its rights or obligations under this IP Security Agreement
or delegate its duties hereunder, whether directly or indirectly, without the prior written consent of the other party, and any such
attempted assignment or delegation shall be null and void.
7.
Governing Law;
Arbitration. This IP Security Agreement and any
claim, controversy, dispute, or cause of action (whether in contract or tort or otherwise) based upon, arising out of, or relating to
this IP Security Agreement and the transactions contemplated hereby and thereby shall be governed by, and construed in accordance with,
the laws of the United States and the State of Utah, without giving effect to any choice or conflict of law provision or rule (whether
of the State of Utah or any other jurisdiction), and will be subject to the Arbitration
Provisions (as defined in the Purchase Agreement) attached as an exhibit to the Purchase Agreement.
[Signature
Page Follows]
3
IN
WITNESS WHEREOF, Guarantor has caused this IP Security Agreement to be duly executed and delivered by its officer thereunto duly authorized
as of the date first above written.
SSI
IP HOLDINGS, INC.
By:
/s/ Sudhir Prem Srivastava
Sudhir Prem Srivastava, Chief Executive Officer
Address
for Notices:
405,
3rd Floor, iLabs Info Technology Centre
Udyog
Vihar, Phase III
Gurugram,
Haryana 122016, India
AGREED
TO AND ACCEPTED:
GROWTH
CAPITAL PARTNERS, LLC
By:
/s/
Scott Brown
Scott
Brown, President
Address
for Notices:
250
E. 200 S., Floor 16
Salt
Lake City, Utah 84111
[Signature
Page to Intellectual Property Security Agreement]
SCHEDULE
1
PATENTS
Patents
Title
Patent
No.
Issue
Date
Record
Owner
A
ROBOTIC SURGICAL CART WITH AN AUTO LEVELLING MECHANISM
IN
581088
February
19, 2026
SSI
IP HOLDINGS, INC.
A
CONSOLE SYSTEM FOR A MULTI-ARM ROBOTIC SURGICAL SYSTEM
IN
554398
November
14, 2024
SSI
IP HOLDINGS, INC.
A
HAND CONTROLLER FOR A ROBOTIC SURGICAL SYSTEM
IN
531408
April
02, 2024
SSI
IP HOLDINGS, INC.
A
SYSTEM AND METHOD FOR A SURGICAL INSTRUMENT ENGAGEMENT DETECTION USING A CONDUCTIVE PATHWAY
IN
588144
April
30, 2026
SSI
IP HOLDINGS, INC.
A
TELESCOPIC COLUMN ASSEMBLY IN AROBOTIC ARM SYSTEM
IN
506637
February
02, 2024
SSI
IP HOLDINGS, INC.
A
SYSTEM AND METHOD FOR VIRTUAL REALITY TRAINING, SIMULATION OF A VIRTUAL ROBOTIC SURGERY ENVIRONMENT
IN
507374
February
06, 2024
SSI
IP HOLDINGS, INC.
Sch-1-1
AN
ARTICULATING CANNULA
IN
539348
May
27, 2024
SSI
IP HOLDINGS, INC.
A
MULTI-ARM ROBOTIC SURGICAL SYSTEM
IN
576002
December
17, 2025
SSI
IP HOLDINGS, INC.
PRE-OPERATIVE
PLANNING FOR A MULTI-ARM ROBOTIC SURGICAL SYSTEM
IN
579215
January
29, 2026
SSI
IP HOLDINGS, INC.
A
SYSTEM AND METHOD FOR OBTAINING KINEMATICS OF A ROBOTIC CART IN A MULTI-ARM ROBOTIC SURGICAL SYSTEM
IN
586585
April
9, 2026
SSI
IP HOLDINGS, INC.
ELECTRO-MECHANICAL
FAILSAFE BRAKING SYSTEM
IN
575533
December
9, 2025
SSI
IP HOLDINGS, INC.
A
SYSTEM AND METHOD FOR MIXED REALITY TELE PROCTORING MODULE IN MINIMALLY INVASIVE SURGERY
IN
574172
November
20, 2025
SSI
IP HOLDINGS, INC.
A
MULTI-ARM SURGICAL ROBOTIC SYSTEM FOR TELE-SURGERY
IN
578288
January
15, 2026
SSI
IP HOLDINGS, INC.
Sch-1-2
A
DUAL CONSOLE FOR MODULAR MULTI ARM ROBOTIC SURGICAL SYSTEM
IN
573881
November
17, 2025
SSI
IP HOLDINGS, INC.
A
HEAD TRACKING SYSTEM FOR A ROBOTIC SURGICAL SYSTEM
IN
572236
October
17, 2025
SSI
IP HOLDINGS, INC.
SURGEON
INPUT DEVICE FOR MINIMALLY INVASIVE SURGERY
IN
574843
November
28, 2025
SSI
IP HOLDINGS, INC.
A
TELESCOPIC COLUMN ASSEMBLY IN AROBOTIC ARM SYSTEM
US
12605853
April
21, 2026
SSI
IP HOLDINGS, INC.
MULTI-FIRE
CLIP APPLIER INSTRUMENT
US
12569256
March
10, 2026
SSI
IP HOLDINGS, INC.
A
SYSTEM AND METHOD FOR VIRTUAL REALITY TRAINING, SIMULATION OF A VIRTUAL ROBOTIC SURGERY ENVIRONMENT
US
12758316
October
13, 2026
SSI
IP HOLDINGS, INC.
A
HAND CONTROLLER FOR A ROBOTIC SURGICAL SYSTEM
US
12515350
January
6, 2026
SSI
IP HOLDINGS, INC.
A
MULTI-ARM ROBOTIC SURGICAL SYSTEM
US 18/690,545 (app. No.);
Issuance fee paid after
notice of allowance
Awaiting
SSI
IP HOLDINGS, INC.
Sch-1-3
PRE-OPERATIVE
PLANNING FOR A MULTI-ARM ROBOTIC SURGICAL SYSTEM
EP
23 894 123.1 (app. No.);
Intention of
Grant received
Awaiting
SSI
IP HOLDINGS, INC.
A
Robotic Surgical Console
IN
378304-001
August
3, 2023
SSI
IP HOLDINGS, INC.
SINGLE
MODULAR ROBOTIC ARM
IN
387841-001
August
30, 2023
SSI
IP HOLDINGS, INC.
INSTRUMENT
ACTUATOR
IN
387463-001
February
9, 2024
SSI
IP HOLDINGS, INC.
AUTOMATED
CORONARY CONNECTOR
IN
393950-001
January
18, 2024
SSI
IP HOLDINGS, INC.
ENDOSCOPE
ARTICULATING CANNULA
IN
393949-001
January
11, 2024
SSI
IP HOLDINGS, INC.
AUTOMATED
CORONARY CONNECTOR
IN
393956-001
December
13, 2023
SSI
IP HOLDINGS, INC.
PASSIVE
SETUP JOINTS FOR ROBOTIC ARM CART
IN
393955-001
October
30, 2023
SSI
IP HOLDINGS, INC.
ACTIVE
SETUP JOINT FOR SURGICAL ROBOTIC ARM CART
IN
394146-001
January
11, 2024
SSI
IP HOLDINGS, INC.
HEAD
TRACKING FRAME FOR ROBOTIC SURGICAL SYSTEM
IN
394232-001
January
18, 2024
SSI
IP HOLDINGS, INC.
MULTIFIRE
CLIP APPLIER FOR ROBOTIC SURGERY
IN
394401-001
October
30, 2023
SSI
IP HOLDINGS, INC.
CANNULA
BASED CART REGISTRATION FOR MODULAR SURGICAL ROBOTIC SYSTEM
IN
396151-001
January
19, 2024
SSI
IP HOLDINGS, INC.
Sch-1-4
ULTRASONIC
SURGICAL DEVICE FOR ROBOTICSURGERY
IN
397491-001
April
19, 2024
SSI
IP HOLDINGS, INC.
ULTRASONIC
SURGICAL DEVICE FOR ROBOTICSURGERY
IN
397492-001
December
8, 2023
SSI
IP HOLDINGS, INC.
LASER
BASED REGISTRATION OF MODULARSURGICAL ROBOTS
IN
397730-001
January
19, 2024
SSI
IP HOLDINGS, INC.
Medical
Cart for Robotic Surgical System
IN
402613-001
December
11, 2025
SSI
IP HOLDINGS, INC.
PORTABLE
CONSOLE FOR ROBOTIC SURGICAL SYSTEM
IN
402792-001
February
2, 2024
SSI
IP HOLDINGS, INC.
INSTRUMENT
ACTUATOR
IN
405660-001
March
22, 2024
SSI
IP HOLDINGS, INC.
ACTIVE
CAMERA ACTUATOR FOR SURGICAL ROBOTIC SYSTEMS
IN
405661-001
April
4, 2024
SSI
IP HOLDINGS, INC.
SURGICAL
ROBOT ARM
IN
413250-001
May
22, 2024
SSI
IP HOLDINGS, INC.
SURGEON
INPUT DEVICE FOR MINIMALLY INVASIVE SURGERY
IN
413305-001
June
13, 2024
SSI
IP HOLDINGS, INC.
HAND
GRIPPER FOR SURGICAL ROBOTICSYSTEM
IN
415908-001
July
24, 2024
SSI
IP HOLDINGS, INC.
MEDICAL
CART
IN
418107-001
July
4, 2024
SSI
IP HOLDINGS, INC.
ROBOTIC
ARM CART
IN
418358-001
July
8, 2024
SSI
IP HOLDINGS, INC.
SETUP
JOINTS FOR PATIENT SIDE ARM CART INROBOTIC SURGICAL SYSTEM
IN
418918-001
July
15, 2024
SSI
IP HOLDINGS, INC.
Sch-1-5
BIPOLAR
INSTRUMENT FOR ROBOTIC SURGICAL SYSTEM
IN
419064-001
July
16, 2024
SSI
IP HOLDINGS, INC.
SINGLE
ARCH PEDIATRIC ROBOTIC SURGICALSYSTEM
IN
423472-001
September
2, 2024
SSI
IP HOLDINGS, INC.
DOUBLE
ARCH PEDIATRIC ROBOTIC SURGICALSYSTEM
IN
423473-001
August
29, 2024
SSI
IP HOLDINGS, INC.
ELECTRONICS
BRAKING CASTOR MECHANISM FOR ROBOTIC SURGICAL SYSTEM
IN
429418-001
October
24, 2024
SSI
IP HOLDINGS, INC.
REDUCER
CANNULA FOR ROBOTIC SURGICAL SYSTEM
IN
431976-001
November
28, 2024
SSI
IP HOLDINGS, INC.
REDUCER
CANNULA SEAL FOR ROBOTIC SURGICAL SYSTEM
IN
431977-001
November
4, 2024
SSI
IP HOLDINGS, INC.
MANIPULATED
KNIFE FOR ROBOTIC SURGICAL SYSTEM
IN
441636-001
February
3, 2025
SSI
IP HOLDINGS, INC.
GRASPER
INSTRUMENT FOR ROBOTIC SURGICAL SYSTEM
IN
444759-001
April
16, 2025
SSI
IP HOLDINGS, INC.
GRASPER
INSTRUMENT FOR ROBOTIC SURGICAL SYSTEM
IN
451743-001
March
11, 2026
SSI
IP HOLDINGS, INC.
TELE
SURGEON CONSOLE
IN
478747-001
July
15, 2026
SSI
IP HOLDINGS, INC.
Sch-1-6
Patent
Applications
Title
Application
Number
Filing
Date
Record
Owner
MULTIPLE
CLIP APPLIER INSTRUMENT
IN
202111045154
November
5, 2021
SSI
IP HOLDINGS, INC.
AN
INSTRUMENT DRIVE ASSEMBLY FOR A ROBOTIC SURGICAL SYSTEM
IN
202211055480
September
28, 2022
SSI
IP HOLDINGS, INC.
A
PORTABLE IMMERSIVE MASTER CONSOLE FOR MINIMALLY INVASIVE SURGERY
IN
202311024625
March
31, 2023
SSI
IP HOLDINGS, INC.
MEDICAL
IMAGING ANALYSIS SYSTEM FOR ROBOTIC SURGERY
IN
202311050594
July
27, 2023
SSI
IP HOLDINGS, INC.
SUTURING
DEVICE AND SYSTEM FOR SUTURING USING SUTURING DEVICE
IN
202411029820
July
12, 2024
SSI
IP HOLDINGS, INC.
A
ROBOTIC SURGICAL STAPLING INSTRUMENT WITH REPLACEABLE KNIFE AND CARTRIDGE
IN
202511000721
July
3, 2025
SSI
IP HOLDINGS, INC.
ACTIVE
ACTUATOR FOR ROTATION OF A CAMERA IN A ROBOTIC SURGICAL SYSTEM
IN
202411041736
May
29, 2024
SSI
IP HOLDINGS, INC.
INSULATING
TIP COVER FOR AN ELECTROSURGICAL INSTRUMENT
IN
202411044293
September
7, 2024
SSI
IP HOLDINGS, INC.
ROBOTIC
ARM ASSEMBLY WITH MULTI-DIAMETER PULLEY ARRANGEMENT
IN
202411073188
November
27, 2024
SSI
IP HOLDINGS, INC.
Sch-1-7
DOCKING
ASSEMBLY AND METHOD FOR LEVELING A CART
IN
202411077139
November
11, 2024
SSI
IP HOLDINGS, INC.
MODULAR
SURGICAL INSTRUMENT ASSEMBLY FOR MINIMALLY INVASIVE ROBOTIC SURGERY IN MULTI-ARM ROBOTIC SURGICAL SYSTEM
IN
202511023706
May
17, 2025
SSI
IP HOLDINGS, INC.
SYSTEM
AND METHOD WITH MOTORIZED SETUP PITCH JOINT FOR ROBOTIC SURGICAL INSTRUMENT ARM IN ROBOTIC SURGICAL SYSTEM
IN
202511062783
July
1, 2025
SSI
IP HOLDINGS, INC.
ROBOTIC
SURGICAL INSTRUMENT ASSEMBLY AND SYSTEM FOR SURGERY USING ROBOTIC SURGICAL INSTRUMENT ASSEMBLY
IN
202511064611
July
7, 2025
SSI
IP HOLDINGS, INC.
SURGICAL
STAPLING DEVICE WITH MANUAL RELEASE MECHANISM
IN
202511081749
August
28, 2025
SSI
IP HOLDINGS, INC.
CANNULA
WITH INTEGRATED STABILIZATION AND SEALING MECHANISM
IN
202511104118
October
29, 2025
SSI
IP HOLDINGS, INC.
TELE
SURGEON CONSOLE
IN
202511107231
November
5, 2025
SSI
IP HOLDINGS, INC.
Sch-1-8
A
MULTI-ARM SURGICAL ROBOTIC SYSTEM FOR TELE-SURGERY
IN
202512110103
November
12, 2025
SSI
IP HOLDINGS, INC.
FLEXIBLE
PRINTED CIRCUIT BOARD WITH SEPARATE DATA AND POWER PATHS WITH CONTROLLED IMPEDANCE AND GROUND REFERENCE
IN
202611016427
February
13, 2026
SSI
IP HOLDINGS, INC.
ROBOTIC
SURGICAL STAPLING DEVICE WITH INTEGRATED MULTI-FUNCTION ACTUATION
IN
202611017500
February
17, 2026
SSI
IP HOLDINGS, INC.
ROBOTIC
CARDIAC ANASTOMOSIS DEVICEWITH ARTICULATING WRIST CONTROL
IN
202611033981
March
20, 2026
SSI
IP HOLDINGS, INC.
UNINTERRUPTED
SUTURING DEVICE
IN
202611044907
April
8, 2026
SSI
IP HOLDINGS, INC.
IMPROVED
SURGEON INPUT DEVICE WITH ENHANCED ASSEMBLY ARCHITECTURE
IN
202611074364
June
16, 2026
SSI
IP HOLDINGS, INC.
MODULAR
MOBILE HEALTHCARE ECOSYSTEM FOR RAPID DEPLOYMENT IN DIVERSE HEALTHCARE ENVIRONMENTS
IN
202611089592
July
23, 2026
SSI
IP HOLDINGS, INC.
A
TELESCOPIC COLUMN ASSEMBLY IN AROBOTIC ARM SYSTEM
EP
23761043.1
September
4, 2023
SSI
IP HOLDINGS, INC.
Sch-1-9
AN
ARTICULATING CANNULA
US
18/289,768
November
7, 2023
SSI
IP HOLDINGS, INC.
A
SYSTEM AND METHOD FOR VIRTUAL REALITY TRAINING, SIMULATION OF A VIRTUAL ROBOTIC SURGERY ENVIRONMENT
EP
23819410.4
March
7, 2024
SSI
IP HOLDINGS, INC.
A
HAND CONTROLLER FOR A ROBOTIC SURGICAL SYSTEM
EP
23752574.6
March
7, 2024
SSI
IP HOLDINGS, INC.
A
SYSTEM AND METHOD FOR OBTAINING KINEMATICS OF A ROBOTIC CART IN A MULTI-ARMROBOTIC SURGICAL SYSTEM
US
18/689,839
March
6, 2024
SSI
IP HOLDINGS, INC.
A
MULTI-ARM ROBOTIC SURGICAL SYSTEM
EP
23858440.3
March
8, 2024
SSI
IP HOLDINGS, INC.
A
SYSTEM AND METHOD FOR OBTAINING KINEMATICS OF A ROBOTIC CART IN A MULTI-ARMROBOTIC SURGICAL SYSTEM
EP
23858442.9
March
8, 2024
SSI
IP HOLDINGS, INC.
PRE-OPERATIVE
PLANNING FOR A MULTI-ARM ROBOTIC SURGICAL SYSTEM
US
18/721,998
June
20, 2024
SSI
IP HOLDINGS, INC.
Sch-1-10
A
CONSOLE SYSTEM FOR A MULTI-ARM ROBOTIC SURGICAL SYSTEM
US
18/730,835
July
22, 2024
SSI
IP HOLDINGS, INC.
A
HAND CONTROLLER FOR A ROBOTIC SURGICAL SYSTEM
BR
11 2024 016133 1
August
7, 2024
SSI
IP HOLDINGS, INC.
A
MULTI-ARM ROBOTIC SURGICAL SYSTEM
ID
P00202410191
September
27, 2024
SSI
IP HOLDINGS, INC.
A
SYSTEM AND METHOD FOR VIRTUAL REALITY TRAINING, SIMULATION OF A VIRTUAL ROBOTIC SURGERY ENVIRONMENT
ID
P00202413258
November
18, 2024
SSI
IP HOLDINGS, INC.
A
MULTI-ARM SURGICAL ROBOTIC SYSTEM FOR TELE-SURGERY
SG
11202500538S
January
23, 2025
SSI
IP HOLDINGS, INC.
SURGEON
INPUT DEVICE FOR MINIMALLY INVASIVE SURGERY
SG
11202500539T
January
24, 2025
SSI
IP HOLDINGS, INC.
A
SYSTEM AND METHOD FOR MIXED REALITY TELE PROCTORING IN MINIMALLY INVASIVE SURGERY
SG
11202500540Y
January
24, 2025
SSI
IP HOLDINGS, INC.
A
MULTI-ARM SURGICAL ROBOTIC SYSTEM FOR TELE-SURGERY
IL
318537
January
22, 2025
SSI
IP HOLDINGS, INC.
SURGEON
INPUT DEVICE FOR MINIMALLY INVASIVE SURGERY
IL
318538
January
22, 2025
SSI
IP HOLDINGS, INC.
Sch-1-11
A
SYSTEM AND METHOD FOR MIXED REALITY TELE PROCTORING IN MINIMALLY INVASIVE SURGERY
IL
318539
January
22, 2025
SSI
IP HOLDINGS, INC.
A
MULTI-ARM SURGICAL ROBOTIC SYSTEM FOR TELE-SURGERY
KR
10-2025-7003083
January
24, 2025
SSI
IP HOLDINGS, INC.
SURGEON
INPUT DEVICE FOR MINIMALLY INVASIVE SURGERY
KR
10-2025-7003082
January
24, 2025
SSI
IP HOLDINGS, INC.
A
SYSTEM AND METHOD FOR MIXED REALITY TELE PROCTORING IN MINIMALLY INVASIVE SURGERY
KR
10-2025-7003084
January
24, 2025
SSI
IP HOLDINGS, INC.
A
MULTI-ARM SURGICAL ROBOTIC SYSTEM FOR TELE-SURGERY
AU
2024287292
January
24, 2025
SSI
IP HOLDINGS, INC.
SURGEON
INPUT DEVICE FOR MINIMALLY INVASIVE SURGERY
AU
2024287293
January
24, 2025
SSI
IP HOLDINGS, INC.
A
SYSTEM AND METHOD FOR MIXED REALITY TELE PROCTORING IN MINIMALLY INVASIVE SURGERY
AU
2024287294
January
24, 2025
SSI
IP HOLDINGS, INC.
A
MULTI-ARM SURGICAL ROBOTIC SYSTEM FOR TELE-SURGERY
JP
2025-504760
January
24, 2025
SSI
IP HOLDINGS, INC.
Sch-1-12
SURGEON
INPUT DEVICE FOR MINIMALLY INVASIVE SURGERY
JP
2025-504777
January
24, 2025
SSI
IP HOLDINGS, INC.
A
SYSTEM AND METHOD FOR MIXED REALITY TELE PROCTORING IN MINIMALLY INVASIVE SURGERY
JP
2025-504779
January
24, 2025
SSI
IP HOLDINGS, INC.
A
MULTI-ARM SURGICAL ROBOTIC SYSTEM FOR TELE-SURGERY
BR
11 2025 002259 8
February
5, 2025
SSI
IP HOLDINGS, INC.
SURGEON
INPUT DEVICE FOR MINIMALLY INVASIVE SURGERY
BR
11 2025 002261 0
February
5, 2025
SSI
IP HOLDINGS, INC.
A
SYSTEM AND METHOD FOR MIXED REALITY TELE PROCTORING IN MINIMALLY INVASIVE SURGERY
BR
11 2025 002264 4
February
5, 2025
SSI
IP HOLDINGS, INC.
A
DUAL CONSOLE FOR MODULAR MULTI-ARM ROBOTIC SURGICAL SYSTEM
US
19/100,565
February
1, 2025
SSI
IP HOLDINGS, INC.
A
SYSTEM AND METHOD FOR MIXED REALITY TELE PROCTORING IN MINIMALLY INVASIVE SURGERY
US
19/106,774
February
26, 2025
SSI
IP HOLDINGS, INC.
A
MULTI-ARM SURGICAL ROBOTIC SYSTEM FOR TELE-SURGERY
US
19/108,058
February
28, 2025
SSI
IP HOLDINGS, INC.
Sch-1-13
SURGEON
INPUT DEVICE FOR MINIMALLY INVASIVE SURGERY
US
19/108,073
February
28, 2025
SSI
IP HOLDINGS, INC.
A
MULTI-ARM ROBOTIC SURGICAL SYSTEM
BR
11 2025 007762-7
April
17, 2025
SSI
IP HOLDINGS, INC.
A
MULTI-ARM ROBOTIC SURGICAL SYSTEM
AU
2023362744
April
22, 2025
SSI
IP HOLDINGS, INC.
PRE-OPERATIVE
PLANNING FOR A MULTI-ARM ROBOTIC SURGICAL SYSTEM
AU
2023384172
June
16, 2025
SSI
IP HOLDINGS, INC.
PRE-OPERATIVE
PLANNING FOR A MULTI-ARM ROBOTIC SURGICAL SYSTEM
BR
11 2025 010243-5
May
21, 2025
SSI
IP HOLDINGS, INC.
PRE-OPERATIVE
PLANNING FOR A MULTI-ARM ROBOTIC SURGICAL SYSTEM
ID
P00202505636
June
21, 2025
SSI
IP HOLDINGS, INC.
PRE-OPERATIVE
PLANNING FOR A MULTI-ARM ROBOTIC SURGICAL SYSTEM
KR
10-2025-7019809
June
13, 2025
SSI
IP HOLDINGS, INC.
PRE-OPERATIVE
PLANNING FOR A MULTI-ARM ROBOTIC SURGICAL SYSTEM
JP
2025-529800
May
21, 2025
SSI
IP HOLDINGS, INC.
A
SYSTEM AND METHOD FOR OBTAINING KINEMATICS OF A ROBOTIC CART IN A MULTI-ARMROBOTIC SURGICAL SYSTEM
BR
11 2025 011554-5
June
6, 2025
SSI
IP HOLDINGS, INC.
Sch-1-14
A
SYSTEM AND METHOD FOR OBTAINING KINEMATICS OF A ROBOTIC CART IN A MULTI-ARMROBOTIC SURGICAL SYSTEM
JP
2025-531993
May
30, 2025
SSI
IP HOLDINGS, INC.
MEDICAL
IMAGING ANALYSIS SYSTEM FOR ROBOTIC SURGERY
US
19/501,304
January
12, 2026
SSI
IP HOLDINGS, INC.
SYSTEM
AND METHOD WITH MOTORIZED SETUP PITCH JOINT FOR ROBOTIC SURGICAL INSTRUMENT ARM IN ROBOTIC SURGICAL SYSTEM
US
19/727,234
July
1, 2026
SSI
IP HOLDINGS, INC.
SYSTEM
AND METHOD WITH MOTORIZED SETUP PITCH JOINT FOR ROBOTIC SURGICAL INSTRUMENT ARM IN ROBOTIC SURGICAL SYSTEM
US
19/728,426
July
2, 2026
SSI
IP HOLDINGS, INC.
SURGICAL
STAPLING DEVICE WITH MANUAL RELEASE MECHANISM
US
19/784,136
August
24, 2026
SSI
IP HOLDINGS, INC.
SURGEON
INPUT DEVICE FOR MINIMALLY INVASIVE SURGERY
PCT/IN2024/051793
September
19, 2024
SSI
IP HOLDINGS, INC.
A
HEAD TRACKING SYSTEM FOR A ROBOTIC SURGICAL SYSTEM
PCT/IN2025/050086
January
24, 2025
SSI
IP HOLDINGS, INC.
Sch-1-15
ACTIVE
ACTUATOR FOR ROTATION OF A CAMERA IN A ROBOTIC SURGICAL SYSTEM
PCT/IN2025/050802
May
28, 2025
SSI
IP HOLDINGS, INC.
DOCKING
ASSEMBLY AND METHOD FOR LEVELING A CART
PCT/IN2025/051761
November
10, 2025
SSI
IP HOLDINGS, INC.
ROBOTIC
ARM ASSEMBLY WITH MULTI-DIAMETER PULLEY ARRANGEMENT
PCT/IN2025/051810
November
18, 2025
SSI
IP HOLDINGS, INC.
MODULAR
SURGICAL INSTRUMENT ASSEMBLY FOR MINIMALLY INVASIVE ROBOTIC SURGERY IN MULTI-ARM ROBOTIC SURGICAL SYSTEM
PCT/IN2026/050848
May
16, 2026
SSI
IP HOLDINGS, INC.
A
HEAD TRACKING SYSTEM FOR A ROBOTIC SURGICAL SYSTEM
US
19/623,017
September
10, 2026
SSI
IP HOLDINGS, INC.
VESSEL
SEALER FOR ROBOTIC SURGICAL SYSTEM
IN
435695-001
October
25, 2024
SSI
IP HOLDINGS, INC.
TELE
SURGEON CONSOLE
IN
478225-001
October
28, 2025
SSI
IP HOLDINGS, INC.
UNMANNED
AERIAL VEHICLE INTEGRATED TELESURGICAL SYSTEM FOR REMOTE TRAUMA STABILIZATION
IN
497835-001
April
8, 2026
SSI
IP HOLDINGS, INC.
ROBOTIC
ULTRASOUND CONSOLE
IN
497833-001
April
8, 2026
SSI
IP HOLDINGS, INC.
ROBOTIC
ULTRASOUND PATIENT CART
IN
498338-001
April
13, 2026
SSI
IP HOLDINGS, INC.
Sch-1-16
Trademarks
Title
Trademark
No.
Registration
Date
Record
Owner
Cerebellum
IN
4286239
February
15, 2020
SSI
IP HOLDINGS, INC.
Mantra
IN
4381088
September
5, 2020
SSI
IP HOLDINGS, INC.
IN
4332586
August
1, 2020
SSI
IP HOLDINGS, INC.
Robosurg
Med-Tech
IN
4332582
August
1, 2020
SSI
IP HOLDINGS, INC.
IN
4332584
August
1, 2020
SSI
IP HOLDINGS, INC.
IN
4332585
August
1, 2020
SSI
IP HOLDINGS, INC.
Robosurg
Med-Tech
IN
4332583
August
1, 2020
SSI
IP HOLDINGS, INC.
Sch-1-17
Robosurg
Med-Tech
IN
4332581
02-08-2020
SSI
IP HOLDINGS, INC.
IN
4767310
May
21, 2021
SSI
IP HOLDINGS, INC.
IN
4767311
May
20, 2021
SSI
IP HOLDINGS, INC.
IN
4767309
May
21, 2021
SSI
IP HOLDINGS, INC.
IN
4781981
July
26, 2024
SSI
IP HOLDINGS, INC.
IN
4781980
August
1, 2024
SSI
IP HOLDINGS, INC.
Sch-1-18
IN
5933290
January
1, 2025
SSI
IP HOLDINGS, INC.
Nadi
IN
5959064
April
24, 2025
SSI
IP HOLDINGS, INC.
Ssii
IN
5959065
December
12, 2024
SSI
IP HOLDINGS, INC.
Ssicrs
IN
5959066
March
13, 2024
SSI
IP HOLDINGS, INC.
IN
5959068
March
15, 2024
SSI
IP HOLDINGS, INC.
IN
5959069
May
16, 2025
SSI
IP HOLDINGS, INC.
Sch-1-19
SSI
Chitrasa
IN
6027362
April
4, 2024
SSI
IP HOLDINGS, INC.
Chitrasa
IN
6027363
April
6, 2024
SSI
IP HOLDINGS, INC.
Chitra
IN
6027364
November
12, 2025
SSI
IP HOLDINGS, INC.
SSI
Yantra
IN
6027365
April
7, 2024
SSI
IP HOLDINGS, INC.
SSI
Yantra
IN
6027366
April
7, 2024
SSI
IP HOLDINGS, INC.
IN
6027367
April
6, 2024
SSI
IP HOLDINGS, INC.
IN
6042956
December
7, 2024
SSI
IP HOLDINGS, INC.
IN
6042957
September
1, 2025
SSI
IP HOLDINGS, INC.
IN
6099634
July
11, 2024
SSI
IP HOLDINGS, INC.
Sch-1-20
TruVu
IN
6090585
December
5, 2025
SSI
IP HOLDINGS, INC.
IN
6100392
November
14, 2025
SSI
IP HOLDINGS, INC.
AR
4.297.997
June
12, 2024
SSI
IP HOLDINGS, INC.
EG
528435
April
10, 2025
SSI
IP HOLDINGS, INC.
ID
DID2023098777
September
12, 2024
SSI
IP HOLDINGS, INC.
AR
4.320.960
June
14, 2024
SSI
IP HOLDINGS, INC.
EG
531615
August
24, 2025
SSI
IP HOLDINGS, INC.
ID
DID2024000208
November
29, 2024
SSI
IP HOLDINGS, INC.
AR
4.320.959
September
4, 2025
SSI
IP HOLDINGS, INC.
Sch-1-21
ID
DID2023112826
January
2, 2025
SSI
IP HOLDINGS, INC.
AR
4.320.961
June
14, 2024
SSI
IP HOLDINGS, INC.
ID
DID2023112827
October
28, 2024
SSI
IP HOLDINGS, INC.
IN
6150595
20-12-2025
SSI
IP HOLDINGS, INC.
IN
6153226
September
24, 2025
SSI
IP HOLDINGS, INC.
IN
6153227
July
11, 2024
SSI
IP HOLDINGS, INC.
IN
6153229
July
11, 2024
SSI
IP HOLDINGS, INC.
Sch-1-22
IN
6153228
July
11, 2024
SSI
IP HOLDINGS, INC.
IN
6153224
November
20, 2025
SSI
IP HOLDINGS, INC.
IN
6174151
July
11, 2024
SSI
IP HOLDINGS, INC.
SSi
Yog
IN
6202639
July
2, 2024
SSI
IP HOLDINGS, INC.
IN
6202640
July
10, 2024
SSI
IP HOLDINGS, INC.
IN
6211499
July
2, 2024
SSI
IP HOLDINGS, INC.
SSI
Mantra
IN
6260999
July
2, 2024
SSI
IP HOLDINGS, INC.
SeliCut
IN
6290516
August
3, 2024
SSI
IP HOLDINGS, INC.
SeliCut
Pro
IN
6290514
August
3, 2024
SSI
IP HOLDINGS, INC.
IN
6290515
August
2, 2024
SSI
IP HOLDINGS, INC.
Sch-1-23
IN
6290513
August
1, 2024
SSI
IP HOLDINGS, INC.
IN
6311568
October
29, 2024
SSI
IP HOLDINGS, INC.
IN
6311569
October
12, 2024
SSI
IP HOLDINGS, INC.
NasLock
IN
6345759
September
19, 2024
SSI
IP HOLDINGS, INC.
IN
6434412
July
9, 2025
SSI
IP HOLDINGS, INC.
Sch-1-24
Foveal
Endotip
IN
6473374
November
12, 2025
SSI
IP HOLDINGS, INC.
FURCIFER
IN
6473375
November
12, 2025
SSI
IP HOLDINGS, INC.
MVis
– Mantra Vision System
IN
6473376
November
12, 2025
SSI
IP HOLDINGS, INC.
SSI
ARKA-LIT
IN
6473377
November
12, 2025
SSI
IP HOLDINGS, INC.
IN
6476595
November
13, 2025
SSI
IP HOLDINGS, INC.
IN
6476596
November
29, 2025
SSI
IP HOLDINGS, INC.
IN
6489221
January
29, 2026
SSI
IP HOLDINGS, INC.
IN
6512009
June
3, 2026
SSI
IP HOLDINGS, INC.
Sch-1-25
Trademark
Applications
Title
Application
No.
Application
Date
Record
Owner
IN
5959067
May
30, 2023
SSI
IP HOLDINGS, INC.
LK
285581
October
25, 2023
SSI
IP HOLDINGS, INC.
LK
286127
November
9, 2023
SSI
IP HOLDINGS, INC.
LK
286126
November
9, 2023
SSI
IP HOLDINGS, INC.
EG
531617
January
11, 2024
SSI
IP HOLDINGS, INC.
LK
286125
November
9, 2023
SSI
IP HOLDINGS, INC.
SSi
IN
6153225
October
17, 2023
SSI
IP HOLDINGS, INC.
Sch-1-26
3343
(Base
app IN 6153227)
January
11, 2024
SSI
IP HOLDINGS, INC.
3342
(Base
app IN 6153228)
January
11, 2024
SSI
IP HOLDINGS, INC.
3344
(Base
app IN 5959067)
January
11, 2024
SSI
IP HOLDINGS, INC.
3345
(Base
app IN 5959069)
January
11, 2024
SSI
IP HOLDINGS, INC.
SSI
Maya
IN
6260998
January
15, 2024
SSI
IP HOLDINGS, INC.
SSI
Mudra
IN
6261000
January
15, 2024
SSI
IP HOLDINGS, INC.
SSi
Sutra
IN
6289243
February
6, 2024
SSI
IP HOLDINGS, INC.
US
98393762
February
6, 2024
SSI
IP HOLDINGS, INC.
SSi
Guru
IN
6408966
April
29, 2024
SSI
IP HOLDINGS, INC.
PROUDLY
MADE IN INDIA FOR THE WORLD
IN
6489923
June
20, 2024
SSI
IP HOLDINGS, INC.
Sch-1-27
FURCIFER
IN
6516838
July
8, 2024
SSI
IP HOLDINGS, INC.
MUDRA
IN
6628772
September
17, 2024
SSI
IP HOLDINGS, INC.
YANTRA
IN
6628773
September
17, 2024
SSI
IP HOLDINGS, INC.
SUTRA
IN
6629214
September
18, 2024
SSI
IP HOLDINGS, INC.
SS
Innovations
IN
6629215
September
18, 2024
SSI
IP HOLDINGS, INC.
Improving
Lives Through Innovation and Care
IN
6629216
September
18, 2024
SSI
IP HOLDINGS, INC.
IN
6645798
September
27, 2024
SSI
IP HOLDINGS, INC.
IN
6645799
September
27, 2024
SSI
IP HOLDINGS, INC.
MantraConnect
IN
6691048
October
29, 2024
SSI
IP HOLDINGS, INC.
MantraLink
IN
6691049
October
29, 2024
SSI
IP HOLDINGS, INC.
MantraSync
IN
6691050
October
29, 2024
SSI
IP HOLDINGS, INC.
MantraConnect
IN
6691051
October
29, 2024
SSI
IP HOLDINGS, INC.
MantraLink
IN
6691053
October
29, 2024
SSI
IP HOLDINGS, INC.
MantraSync
IN
6691052
October
29, 2024
SSI
IP HOLDINGS, INC.
Sch-1-28
IN
6716849
November
19, 2024
SSI
IP HOLDINGS, INC.
IN
6716848
November
19, 2024
SSI
IP HOLDINGS, INC.
IN
6716847
November
19, 2024
SSI
IP HOLDINGS, INC.
IN
6716846
November
19, 2024
SSI
IP HOLDINGS, INC.
IN
6716845
November
19, 2024
SSI
IP HOLDINGS, INC.
EG
566920
November
19, 2024
SSI
IP HOLDINGS, INC.
XpertSeal
IN
6748623
December
10, 2024
SSI
IP HOLDINGS, INC.
CUTEDGEX
IN
6772550
December
24, 2024
SSI
IP HOLDINGS, INC.
SLICEX
IN
6772549
December
24, 2024
SSI
IP HOLDINGS, INC.
IN
6773117
December
24, 2024
SSI
IP HOLDINGS, INC.
SMRSC
IN
6776056
December
26, 2024
SSI
IP HOLDINGS, INC.
IN
6776057
December
26, 2024
SSI
IP HOLDINGS, INC.
SSi
Mantra
IN
6976918
April
25, 2025
SSI
IP HOLDINGS, INC.
SSi
Mantra M
IN
6976919
April
25, 2025
SSI
IP HOLDINGS, INC.
Sch-1-29
SSi
Mantra M
IN
6976920
April
25, 2025
SSI
IP HOLDINGS, INC.
SSi
Mantra M
IN
6976921
April
25, 2025
SSI
IP HOLDINGS, INC.
IN
6976922
April
25, 2025
SSI
IP HOLDINGS, INC.
IN
6976923
April
25, 2025
SSI
IP HOLDINGS, INC.
IN
6976924
April
25, 2025
SSI
IP HOLDINGS, INC.
MantrĀsana
IN
7355542
November
21, 2025
SSI
IP HOLDINGS, INC.
IN
7334760
November
11, 2025
SSI
IP HOLDINGS, INC.
SSI
VIMANA
IN
7668623
April
20, 2026
SSI
IP HOLDINGS, INC.
SSI
VIMANA
IN
7668624
April
20, 2026
SSI
IP HOLDINGS, INC.
SSI
AVTARA
IN
7668622
April
20, 2026
SSI
IP HOLDINGS, INC.
Copyrights
Title
Application/Registration
No.
Filing/Registration
Date
Record
Owner
Type
of Work
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
Sch-1-30
EX-10.3 — SECURITY AGREEMENT, DATED OCTOBER 9, 2026
EX-10.3
Filename: ea030806201ex10-3.htm · Sequence: 6
Exhibit 10.3
Security Agreement
This Security Agreement (this
“Agreement”), dated as of October 9, 2026, is executed by SS Innovations International, Inc., a Florida corporation
(“Debtor”), and SSI IP Holdings, Inc., a Delaware corporation (the “Guarantor”), for the benefit
of Growth Capital Partners, LLC, a Utah limited liability company (“Secured Party”). Debtor and the Guarantor are referred
to herein individually as a “Grantor” and collectively as “Grantors”, and as the context may require,
each reference in this Agreement to Guarantor’s representations, warranties, covenants, agreements, obligations and Collateral (as defined
below) shall apply equally to Debtor as a Grantor with respect to Debtor’s Collateral.
A. Debtor
issued to Secured Party that certain Secured Convertible Promissory Note in the original principal of $21,025,000.00 on October 9, 2026
(the “Note”).
B. In
order to induce Secured Party to purchase the Note, Guarantor has agreed to enter into: (i) that certain Guaranty of even date herewith
among Guarantor, certain other subsidiaries of Debtor, and Secured Party (the “Guaranty”), and (ii) this Agreement
to grant Secured Party a security interest in the Collateral.
NOW, THEREFORE, in consideration
of the above recitals and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, each Grantor
hereby agrees with Secured Party as follows:
1. Definitions
and Interpretation. When used in this Agreement, the following terms have the following respective meanings with respect to each Grantor:
“Collateral”
means the property described in Schedule A hereto, and all replacements, proceeds, products, and accessions thereof. For the avoidance
of doubt, the Collateral does not include any assets, properties or outstanding capital stock of Sudhir Srivastava Innovations Pvt. Ltd.
“Intellectual Property”
means all patents, trademarks, service marks, trade names, copyrights, trade secrets, licenses (software or otherwise), information, know-how,
inventions, discoveries, published and unpublished works of authorship, processes, any and all other proprietary rights, and all rights
corresponding to all of the foregoing throughout the world, now owned and existing or hereafter arising, created or acquired.
“Lien” shall
mean, with respect to any property, any security interest, mortgage, pledge, lien, claim, charge or other encumbrance in, of, or on such
property or the income therefrom, including, without limitation, the interest of a vendor or lessor under a conditional sale agreement,
capital lease or other title retention agreement, or any agreement to provide any of the foregoing, and the filing of any financing statement
or similar instrument under the UCC or comparable law of any jurisdiction.
“Obligations”
means (a) all loans, advances, future advances, debts, liabilities and obligations, howsoever arising, owed by Debtor or Guarantor to
Secured Party or any affiliate of Secured Party of every kind and description, now existing or hereafter arising, whether created by the
Note, this Agreement, the Purchase Agreement, the Guaranty, any other Transaction Document (as defined in the Purchase Agreement), any
other agreement between Debtor or Guarantor and Secured Party (or any affiliate of Secured Party) or any other promissory note issued
by Debtor or Guarantor in favor of Secured Party (or any affiliate of Secured Party), any modification or amendment to any of the foregoing,
guaranty of payment or other contract or by a quasi-contract, tort, statute or other operation of law, whether incurred or owed directly
to Secured Party or as an affiliate of Secured Party or acquired by Secured Party or an affiliate of Secured Party by purchase, pledge
or otherwise, (b) all costs and expenses, including reasonable attorneys’ fees, incurred by Secured Party or any affiliate of Secured
Party in connection with the Note or in connection with the collection or enforcement of any portion of the indebtedness, liabilities
or obligations described in the foregoing clause (a), (c) the payment of all other sums, with interest thereon, advanced in accordance
herewith to protect the security of this Agreement, and (d) the performance of the covenants and agreements of Grantors contained in this
Agreement and all other Transaction Documents.
“Permitted Liens”
means (a) Liens for taxes not yet delinquent or Liens for taxes being contested in good faith and by appropriate proceedings for which
adequate reserves have been established, and (b) Liens in favor of Secured Party under this Agreement or arising under the other Transaction
Documents or any prior agreements between a Grantor and Secured Party.
“Purchase Agreement”
means that certain Securities Purchase Agreement dated October 9, 2026 between Debtor and Secured Party pursuant to which the Note was
issued to Secured Party.
“UCC” means
the Uniform Commercial Code as in effect in the state whose laws would govern the security interest in, including without limitation the
perfection thereof, and foreclosure of the applicable Collateral.
Unless otherwise defined herein,
all terms defined in the UCC have the respective meanings given to those terms in the UCC.
2. Grant
of Security Interest. As security for the Obligations, each Grantor hereby pledges to Secured Party and grants to Secured Party a
first-priority security interest in all right, title, interest, claims and demands of each Grantor in and to such Grantor’s Collateral,
subject only to the Permitted Liens.
3. Authorization
to File Financing Statements. Each Grantor hereby irrevocably authorizes Secured Party at any time and from time to time to file in
any filing office in any UCC jurisdiction or other jurisdiction of Grantor or its subsidiaries any financing statements or documents having
a similar effect and amendments thereto that provide any other information required by the Uniform Commercial Code (or similar law of
any non-United States jurisdiction, if applicable) of such state or jurisdiction for the sufficiency or filing office acceptance of any
financing statement or amendment, including whether Grantor is an organization, the type of organization and any organization identification
number issued to Grantor. Grantors agree to furnish any such information to Secured Party promptly upon Secured Party’s request.
4. General
Representations and Warranties. Each Grantor represents and warrants to Secured Party that (a) Grantor is the owner of the Collateral
and that no other person has any right, title, claim or interest (by way of Lien or otherwise) in, against or to the Collateral, other
than Permitted Liens, (b) upon the filing of UCC-1 financing statements in any applicable jurisdiction, Secured Party shall have a perfected
security interest in the Collateral to the extent that a security interest in the Collateral can be perfected by such filing, except for
Permitted Liens; (c) Grantor has received at least a reasonably equivalent value in exchange for entering into this Agreement, and (d)
as such, this Agreement is a valid and binding obligation of each Grantor. Notwithstanding the foregoing, any sale, assignment, hypothecation
or other transfer of the Note or a portion thereof where in return Secured Party receives consideration, the value of the consideration
received by Secured Party will offset any amounts owed by Grantor as of the date the consideration is received by Secured Party.
5. Additional
Covenants. Each Grantor hereby agrees:
5.1. to
perform all acts that may be necessary to maintain, preserve, protect and perfect in the Collateral, the Lien granted to Secured Party
therein, and the perfection and priority of such Lien;
2
5.2. to
procure, execute (including endorse, as applicable), and deliver from time to time any endorsements, assignments, financing statements,
certificates of title, and all other instruments, documents and/or writings reasonably deemed necessary or appropriate by Secured Party
to perfect, maintain and protect Secured Party’s Lien hereunder and the priority thereof;
5.3. to
provide at least fifteen (15) days prior written notice to Secured Party of any of the following events: (a) any changes or alterations
of Grantor’s name, (b) any changes with respect to Grantor’s address or principal place of business, and (c) the formation
of any subsidiaries of Grantor;
5.4. upon
the occurrence of an Event of Default (as defined in the Note) under the Note and, thereafter, at Secured Party’s request, to endorse
(up to the outstanding amount under such promissory notes at the time of Secured Party’s request), assign and deliver any promissory
notes included in the Collateral to Secured Party, accompanied by such instruments of transfer or assignment duly executed in blank as
Secured Party may from time to time specify;
5.5. to
the extent the Collateral is not delivered to Secured Party pursuant to this Agreement, to keep the Collateral at its current location
(unless otherwise agreed to by Secured Party in writing), and not to relocate the Collateral to any other locations without the prior
written consent of Secured Party except in the ordinary course of business;
5.6. not
to sell, transfer, assign or otherwise dispose, or offer to sell, transfer, assign or otherwise dispose, of the Collateral or any interest
therein (other than inventory or obsolete or defective assets in the ordinary course of business);
5.7. not
to, directly or indirectly, allow, grant or suffer to exist any Lien upon any of the Collateral, other than Permitted Liens;
5.8. not
to grant any license or sublicense under any of its Intellectual Property, or enter into any other agreement with respect to any of its
Intellectual Property, except in the ordinary course of Grantor’s business;
5.9. to
the extent commercially reasonable and in Grantor’s good faith business judgment: (a) to file and prosecute diligently any patent,
trademark or service mark applications pending as of the date hereof or hereafter until all Obligations shall have been paid in full,
(b) to make application on unpatented but patentable inventions and on trademarks and service marks, (c) to preserve and maintain all
rights in all of its Intellectual Property, and (d) to ensure that all of its Intellectual Property is and remains enforceable. Any and
all costs and expenses incurred in connection with each of Grantor’s obligations under this Section 5.9
shall be borne by Grantor. Grantor shall not knowingly and unreasonably abandon any right to file a patent, trademark or service mark
application, or abandon any pending patent application, or any other of its Intellectual Property, without the prior written consent of
Secured Party except for Intellectual Property that Grantor determines, in the exercise of its good faith business judgment, is not or
is no longer material to its business;
5.10. upon
the request of Secured Party at any time or from time to time, and at the sole cost and expense (including, without limitation, reasonable
attorneys’ fees) of Grantor, Grantor shall take all actions and execute and deliver any and all instruments, agreements, assignments,
certificates and/or documents reasonably required by Secured Party to collaterally assign any and all of Grantor’s foreign patent,
copyright and trademark registrations and applications now owned or hereafter acquired to and in favor of Secured Party; and
3
5.11. at
any time amounts paid by Secured Party under the Transaction Documents are used to purchase Collateral, Grantor shall perform all acts
that may be necessary, and otherwise fully cooperate with Secured Party, to cause (a) any such amounts paid by Secured Party to be disbursed
directly to the sellers of any such Collateral, (b) all certificates of title pertaining to such Collateral (as applicable) to be properly
filed and reissued to reflect Secured Party’s Lien on such Collateral, and (c) all such reissued certificates of title to be delivered
to and held by Secured Party.
6. Authorized
Action by Secured Party. Each Grantor hereby irrevocably appoints Secured Party as its attorney-in-fact (which appointment is coupled
with an interest) and agrees that Secured Party may perform (but Secured Party shall not be obligated to and shall incur no liability
to Grantor or any third party for failure so to do) any act which Grantor is obligated by this Agreement to perform, and to exercise such
rights and powers as Grantor might exercise with respect to the Collateral, including the right to (a) collect by legal proceedings or
otherwise and endorse, receive and receipt for all dividends, interest, payments, proceeds and other sums and property now or hereafter
payable on or on account of the Collateral; (b) enter into any extension, reorganization, deposit, merger, consolidation or other agreement
pertaining to, or deposit, surrender, accept, hold or apply other property in exchange for the Collateral; (c) make any compromise or
settlement, and take any action Secured Party deems advisable, with respect to the Collateral, including without limitation bringing a
suit in Secured Party’s own name to enforce any Intellectual Property; (d) endorse Grantor’s name on all applications, documents,
papers and instruments necessary or desirable for Secured Party in the use of any Intellectual Property; (e) grant or issue any exclusive
or non-exclusive license under any Intellectual Property to any person or entity; (f) insure, process and preserve the Collateral;
(g) pay any indebtedness of Grantor relating to the Collateral; (h) cause the Commissioner of Patents and Trademarks, United States Patent
and Trademark Office (or as appropriate, such equivalent agency in foreign countries) to issue any and all patents and related rights
and applications to Secured Party as the assignee of Guarantor’s entire interest therein; (i) file a copy of this Agreement or the
IPSA (as defined in the Purchase Agreement) with any governmental agency, body or authority, including without limitation the United States
Patent and Trademark Office, United States Copyright Office or Library of Congress, at the sole cost and expense of Debtor; (j) execute
and file UCC financing statements and other documents, certificates, instruments and agreements with respect to the Collateral or as otherwise
required or permitted hereunder; and (k) take any and all appropriate action and execute any and all documents and instruments that may
be necessary or useful to accomplish the purposes of this Agreement; provided, however, that Secured Party shall not exercise any
such powers granted pursuant to clauses (a) through (g) above prior to the occurrence of an Event of Default and shall only exercise such
powers following the occurrence of an Event of Default or event of default or breach of the Guaranty. The powers conferred on Secured
Party under this Section 6 are solely to protect its interests in the Collateral and shall not impose any duty upon it to exercise any
such powers. Secured Party shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers,
and neither Secured Party nor any of its stockholders, directors, officers, managers, employees or agents shall be responsible to Grantor
for any act or failure to act, except with respect to Secured Party’s own gross negligence or willful misconduct. Nothing in this
Section 6 shall be deemed an authorization for Grantor to take any action that it is otherwise expressly prohibited from undertaking by
way of other provision of this Agreement.
7. Default
and Remedies.
7.1. Default.
Grantor shall be deemed in default under this Agreement upon the occurrence of an Event of Default.
4
7.2. Remedies.
Upon the occurrence of any such Event of Default, Secured Party shall have the rights of a secured creditor under the UCC, all rights
granted by this Agreement and by law, including, without limiting the foregoing, (a) the right to require Grantor to assemble the Collateral
and make it available to Secured Party at a place to be designated by Secured Party, and (b) the right to take possession of the Collateral
(by judicial process or otherwise), and for that purpose Secured Party may enter upon premises on which the Collateral may be situated
and remove the Collateral therefrom. Grantor hereby agrees that fifteen (15) days’ notice of a public sale of any Collateral or
notice of the date after which a private sale of any Collateral may take place is reasonable. In addition, Grantor waives any and all
rights that it may have to a judicial hearing in advance of the enforcement of any of Secured Party’s rights and remedies hereunder,
including, without limitation, Secured Party’s right following an Event of Default to take immediate possession of Collateral and
to exercise Secured Party’s rights and remedies with respect thereto. Secured Party may also have a receiver appointed to take charge
of all or any portion of the Collateral and to exercise all rights of Secured Party under this Agreement. Secured Party may exercise any
of its rights under this Section 7.2 without demand or notice of any kind. The remedies in this Agreement, including without limitation
this Section 7.2, are in addition to, not in limitation of, any other right, power, privilege, or remedy, either in law, in equity, or
otherwise, to which Secured Party may be entitled. No failure or delay on the part of Secured Party in exercising any right, power, or
remedy will operate as a waiver thereof, nor will any single or partial exercise thereof preclude any other or further exercise thereof
or the exercise of any other right hereunder. All of Secured Party’s rights and remedies, whether evidenced by this Agreement or
by any other agreement, instrument or document shall be cumulative and may be exercised singularly or concurrently.
7.3. Standards
for Exercising Rights and Remedies. To the extent that applicable law imposes duties on Secured Party to exercise remedies in a commercially
reasonable manner, each Grantor acknowledges and agrees that it is not commercially unreasonable for Secured Party (a) to fail to incur
expenses reasonably deemed significant by Secured Party to prepare Collateral for disposition, (b) to fail to obtain third party consents
for access to Collateral to be disposed of, or to obtain or, if not required by other law, to fail to obtain governmental or third party
consents for the collection or disposition of Collateral to be collected or disposed of, (c) to fail to exercise collection remedies against
account Grantors or other persons obligated on Collateral or to fail to remove liens or encumbrances on or any adverse claims against
Collateral, (d) to exercise collection remedies against account Grantors and other persons obligated on Collateral directly or through
the use of collection agencies and other collection specialists, (e) to advertise dispositions of Collateral through publications or media
of general circulation, whether or not the Collateral is of a specialized nature, (f) to contact other persons, whether or not in the
same business as Grantor, for expressions of interest in acquiring all or any portion of the Collateral, (g) to hire one or more professional
auctioneers to assist in the disposition of Collateral, whether or not the Collateral is of a specialized nature, (h) to dispose of Collateral
by utilizing Internet sites that provide for the auction of assets of the types included in the Collateral or that have the reasonable
capability of doing so, or that match buyers and sellers of assets, (i) to dispose of assets in wholesale rather than retail markets,
(j) to disclaim disposition warranties, (k) to purchase insurance or credit enhancements to insure Secured Party against risks of loss,
collection or disposition of Collateral or to provide to Secured Party a guaranteed return from the collection or disposition of Collateral,
or (l) to the extent deemed appropriate by Secured Party, to obtain the services of other brokers, investment bankers, consultants and
other professionals to assist Secured Party in the collection or disposition of any of the Collateral. Grantor acknowledges that the purpose
of this Section is to provide non-exhaustive indications of what actions or omissions by Secured Party would fulfill Secured Party’s
duties under the UCC in Secured Party’s exercise of remedies against the Collateral and that other actions or omissions by Secured
Party shall not be deemed to fail to fulfill such duties solely on account of not being indicated in this Section. Without limitation
upon the foregoing, nothing contained in this Section shall be construed to grant any rights to Grantor or to impose any duties on Secured
Party that would not have been granted or imposed by this Agreement or by applicable law in the absence of this Section.
7.4. Marshalling.
Secured Party shall not be required to marshal any present or future Collateral for, or other assurances of payment of, the Obligations
or to resort to such Collateral or other assurances of payment in any particular order, and all of its rights and remedies hereunder and
in respect of such Collateral and other assurances of payment shall be cumulative and in addition to all other rights and remedies, however
existing or arising. To the extent that it lawfully may, Grantor hereby agrees that it will not invoke any law relating to the marshalling
of Collateral which might cause delay in or impede the enforcement of Secured Party’s rights and remedies under this Agreement or
under any other instrument creating or evidencing any of the Obligations or under which any of the Obligations is outstanding or by which
any of the Obligations is secured or payment thereof is otherwise assured, and, to the extent that it lawfully may, Grantor hereby irrevocably
waives the benefits of all such laws.
5
7.5. Application
of Collateral Proceeds. The proceeds and/or avails of the Collateral, or any part thereof, and the proceeds and the avails of any
remedy hereunder (as well as any other amounts of any kind held by Secured Party at the time of, or received by Secured Party after, the
occurrence of an Event of Default) shall be paid to and applied as follows:
(a) First,
to the payment of reasonable costs and expenses, including all amounts expended to preserve the value of the Collateral, of foreclosure
or suit, if any, and of such sale and the exercise of any other rights or remedies, and of all proper fees, expenses, liability and advances,
including reasonable legal expenses and reasonable attorneys’ fees, incurred or made hereunder by Secured Party;
(b) Second,
to the payment to Secured Party of the amount then owing or unpaid on the Note (to be applied first to accrued interest and second to
outstanding principal) and all amounts owed under any of the other Transaction Documents or other documents included within the Obligations;
and
(c) Third,
to the payment of the surplus, if any, to Grantor, its successors and assigns, or to whosoever may be lawfully entitled to receive the
same.
In the absence of final payment
and satisfaction in full of all of the Obligations, Grantor shall remain liable for any deficiency.
8. Miscellaneous.
8.1. Notices.
Any notice required or permitted hereunder shall be given in the manner provided in the subsection titled “Notices” in the
Purchase Agreement, the terms of which are incorporated herein by this reference.
8.2. Non-waiver.
No failure or delay on Secured Party’s part in exercising any right hereunder shall operate as a waiver thereof or of any other
right nor shall any single or partial exercise of any such right preclude any other further exercise thereof or of any other right.
8.3. Amendments
and Waivers. This Agreement may not be amended or modified, nor may any of its terms be waived, except by written instruments signed
by each Grantor and Secured Party. Each waiver or consent under any provision hereof shall be effective only in the specific instances
for the purpose for which given.
8.4. Assignment.
This Agreement shall be binding upon and inure to the benefit of Secured Party and each Grantor and their respective successors and assigns;
provided, however, that no Grantor may sell, assign or delegate rights and obligations hereunder without the prior written consent
of Secured Party. Secured Party may freely assign, transfer, or delegate any or all of its rights, interests, and obligations under this
Agreement without the consent of any Grantor.
8.5. Cumulative
Rights, etc. The rights, powers and remedies of Secured Party under this Agreement shall be in addition to all rights, powers and
remedies given to Secured Party by virtue of any applicable law, rule or regulation of any governmental authority, or the Note, all of
which rights, powers, and remedies shall be cumulative and may be exercised successively or concurrently without impairing Secured Party’s
rights hereunder. Grantor waives any right to require Secured Party to proceed against any person or entity or to exhaust any Collateral
or to pursue any remedy in Secured Party’s power.
6
8.6. Partial
Invalidity. If any part of this Agreement is construed to be in violation of any law, such part shall be modified to achieve the objective
of the parties to the fullest extent permitted and the balance of this Agreement shall remain in full force and effect.
8.7. Expenses.
Grantor shall pay on demand all reasonable fees and expenses, including reasonable attorneys’ fees and expenses, incurred by Secured
Party in connection with the custody, preservation or sale of, or other realization on, any of the Collateral or the enforcement or attempt
to enforce any of the Obligations which are not performed as and when required by this Agreement.
8.8. Entire
Agreement. This Agreement, the Note and the other Transaction Documents, taken together, constitute and contain the entire agreement
of Grantor and Secured Party with respect to this particular matter and supersede any and all prior agreements, negotiations, correspondence,
understandings and communications between the parties, whether written or oral, respecting the subject matter hereof.
8.9. Governing
Law; Venue. Except as otherwise specifically set forth herein, the parties expressly agree that this Agreement shall be governed solely
by the laws of the State of Utah, without giving effect to the principles thereof regarding the conflict of laws; provided, however,
that enforcement of Secured Party’s rights and remedies against the Collateral as provided herein will be subject to the UCC. The
provisions set forth in the Purchase Agreement to determine the proper venue for any disputes are incorporated herein by this reference.
8.10. Waiver
of Jury Trial. EACH PARTY TO THIS AGREEMENT IRREVOCABLY WAIVES ANY AND ALL RIGHTS IT MAY HAVE TO DEMAND THAT ANY ACTION, PROCEEDING
OR COUNTERCLAIM ARISING OUT OF OR IN ANY WAY RELATED TO THIS AGREEMENT OR THE RELATIONSHIPS OF THE PARTIES HERETO BE TRIED BY JURY. THIS
WAIVER EXTENDS TO ANY AND ALL RIGHTS TO DEMAND A TRIAL BY JURY ARISING UNDER COMMON LAW OR ANY APPLICABLE STATUTE, LAW, RULE OR REGULATION.
FURTHER, EACH PARTY HERETO ACKNOWLEDGES THAT IT IS KNOWINGLY AND VOLUNTARILY WAIVING ITS RIGHT TO DEMAND TRIAL BY JURY.
8.11. Purchase
Agreement; Arbitration of Disputes. By executing this Agreement, each party agrees to be bound by the terms, conditions and general
provisions of the Purchase Agreement and the other Transaction Documents, including without limitation the Arbitration Provisions (as
defined in the Purchase Agreement) set forth as an exhibit to the Purchase Agreement.
8.12. Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be an original and all of which together shall constitute
one instrument. Any electronic copy of a party’s executed counterpart will be deemed to be an executed original.
8.13. Time
of the Essence. Time is expressly made of the essence with respect to each and every provision of this Agreement.
[Remainder of page intentionally left blank;
signature page follows]
7
IN WITNESS WHEREOF, Secured
Party and Grantors have caused this Agreement to be executed as of the day and year first above written.
SECURED PARTY:
Growth Capital Partners, LLC
By:
/s/ Scott Brown
Scott Brown, President
GRANTORS:
SS Innovations International, Inc.,
By:
/s/ Sudhir Prem Srivastava
Sudhir Prem Srivastava, CEO
SSI
IP Holdings, Inc., a Delaware corporation
By:
/s/ Sudhir Prem Srivastava
Sudhir Prem Srivastava,
CEO
[Signature Page to Security Agreement]
8
SCHEDULE A
TO SECURITY AGREEMENT
All right, title, interest,
claims and demands of each Grantor in and to all of such Grantor’s assets owned as of the date hereof and/or acquired by such Grantor
at any time while the Obligations are still outstanding, including without limitation, the following property:
1. All
equity interests in all wholly- or partially-owned subsidiaries of Grantor, excluding Sudhir Srivastava Innovations Pvt. Ltd., including
all certificated and uncertificated securities, stock certificates, membership interests, partnership interest, and all rights, privileges,
and preferences associated therewith;
2. All
customer accounts, insurance contracts, and clients underlying such insurance contracts;
3. All
goods and equipment now owned or hereafter acquired, including, without limitation, all laboratory equipment, computer equipment, office
equipment, machinery, fixtures, vehicles, and any interest in any of the foregoing, and all attachments, accessories, accessions, replacements,
substitutions, additions, and improvements to any of the foregoing, wherever located;
4. All
inventory now owned or hereafter acquired, including, without limitation, all merchandise, raw materials, parts, supplies, packing and
shipping materials, work in process and finished products including such inventory as is temporarily out of Grantor’s custody or
possession or in transit and including any returns upon any accounts or other proceeds, including insurance proceeds, resulting from the
sale or disposition of any of the foregoing and any documents of title representing any of the above, and Grantor’s books relating
to any of the foregoing;
5. All
accounts receivable, contract rights, general intangibles, healthcare insurance receivables, payment intangibles and commercial tort claims,
now owned or hereafter acquired, including, without limitation, all patents, patent rights and patent applications (including without
limitation, the inventions and improvements described and claimed therein, and (a) all reissues, divisions, continuations, renewals, extensions
and continuations-in-part thereof, (b) all income, royalties, damages, proceeds and payments now and hereafter due or payable under or
with respect thereto, including, without limitation, damages and payments for past or future infringements thereof, (c) the right to sue
for past, present and future infringements thereof, and (d) all rights corresponding thereto throughout the world), trademarks and service
marks (and applications and registrations therefor), inventions, discoveries, copyrights and mask works (and applications and registrations
therefor), trade names, trade styles, software and computer programs including source code, trade secrets, methods, published and unpublished
works of authorship, processes, know how, drawings, specifications, descriptions, and all memoranda, notes, and records with respect to
any research and development, goodwill, license agreements, information, any and all other proprietary rights, franchise agreements, blueprints,
drawings, purchase orders, customer lists, route lists, infringements, claims, computer programs, computer disks, computer tapes, literature,
reports, catalogs, design rights, income tax refunds, payments of insurance and rights to payment of any kind and whether in tangible
or intangible form or contained on magnetic media readable by machine together with all such magnetic media, and all rights corresponding
to all of the foregoing throughout the world, now owned and existing or hereafter arising, created or acquired;
9
6. All
now existing and hereafter arising accounts, contract rights, royalties, license rights and all other forms of obligations owing to Grantor
arising out of the sale or lease of goods, the licensing of technology or the rendering of services by Grantor (subject, in each case,
to the contractual rights of third parties to require funds received by Grantor to be expended in a particular manner), whether or not
earned by performance, and any and all credit insurance, guaranties, and other security therefor, as well as all merchandise returned
to or reclaimed by Grantor and Grantor’s books relating to any of the foregoing;
7. All
documents, cash, deposit accounts, letters of credit, letter of credit rights, supporting obligations, certificates of deposit, instruments,
chattel paper, electronic chattel paper, tangible chattel paper and investment property, including, without limitation, all securities,
whether certificated or uncertificated, security entitlements, securities accounts, commodity contracts and commodity accounts, and all
financial assets held in any securities account or otherwise, wherever located, now owned or hereafter acquired and Grantor’s books
relating to the foregoing;
8. All
other assets, goods and personal property of Grantor, wherever located, whether tangible or intangible, and whether now owned or hereafter
acquired; and
9. Any
and all claims, rights and interests in any of the above and all substitutions for, additions and accessions to and proceeds and products
thereof, including, without limitation, insurance, condemnation, requisition or similar payments and the proceeds thereof.
10
EX-10.4 — GUARANTY, DATED OCTOBER 9, 2026
EX-10.4
Filename: ea030806201ex10-4.htm · Sequence: 7
Exhibit 10.4
GUARANTY
This GUARANTY, made effective
as of October 9, 2026, is given by each of the undersigned guarantors (collectively, the “Guarantors”, and each individually,
a “Guarantor”) for the benefit of Growth Capital Partners, LLC, a Utah limited liability company (“Investor”).
PURPOSE
A. SS
Innovations International, Inc., a Florida corporation and parent of Guarantors (“Company”), has issued to Investor
that certain Secured Convertible Promissory Note of even date herewith in the original principal amount of $21,025,000.00 (the “Note”).
B. The
Note was issued pursuant to the terms of a Securities Purchase Agreement of even date herewith between Company and Investor (the “Purchase
Agreement”).
C. Investor
agreed to provide the financing to Company evidenced by the Note only upon the inducement and representation of Guarantors that they would
guarantee certain indebtedness, liabilities and obligations of Company owed to Investor under the Note, as provided herein.
NOW, THEREFORE, in consideration
of good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and in order to induce Investor to purchase
the Note and provide the financing contemplated therein, each Guarantor hereby agrees for the benefit of Investor as follows:
GUARANTY
1. Indebtedness
Guaranteed. Each Guarantor hereby absolutely and unconditionally guarantees the prompt payment in full of the Obligations (as defined
below), as and when the same (including without limitation portions thereof) become due and payable. Each Guarantor acknowledges that
the amount of the Obligations may exceed the principal amount of the Note. Each Guarantor further acknowledges that the foregoing guarantee
is made for the timely payment and performance of each of the Obligations and is not merely a guaranty of collection. For purposes of
this Guaranty, “Obligations” means (a) all loans, advances, debts, liabilities and obligations, arising on or after
the date of this Guaranty, owed by Company to Investor, pursuant to the Note, the Purchase Agreement, or any other Transaction Documents
(as defined in the Purchase Agreement), including any modification or amendment to any of the foregoing, and (b) all costs and expenses,
including reasonable attorneys’ fees incurred by Investor in connection with the collection or enforcement of any portion of the
Obligations.
2. Representations
and Warranties. Each Guarantor hereby represents and warrants to Investor that:
(a) Guarantor
is an entity, duly organized, validly existing and in good standing under the laws of the jurisdiction of its formation and has the power
and authority and the legal right to own and operate its properties and to conduct the business in which it is currently engaged.
(b) Guarantor
has the power and authority and the legal right to execute and deliver, and to perform its obligations under, this Guaranty and has taken
all necessary action required by its form of organization to authorize such execution, delivery and performance.
(c) This
Guaranty constitutes Guarantor’s legal, valid and binding obligation enforceable in accordance with its terms, except as enforceability
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’
rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law).
(d) The
execution, delivery and performance of this Guaranty will not (i) violate any provision of any law, statute, rule or regulation or any
order, writ, judgment, injunction, decree, determination or award of any court, governmental agency or arbitrator presently in effect
having applicability to Guarantor, (ii) violate or contravene any provision of Guarantor’s organizational documents, or (iii) result
in a breach of or constitute a default under any indenture, loan or credit agreement or any other material agreement, lease or instrument
to which Guarantor is a party or by which it or any of its properties may be bound, which breach or default could reasonably be expected
to have a material adverse effect on the business, operations, properties, assets or condition (financial or otherwise) of the Guarantors
taken as a whole (a “Material Adverse Effect”), or (iv) result in the creation of any material lien on the foregoing.
Guarantor is not in default under or in violation of any such law, statute, rule or regulation, order, writ, judgment, injunction, decree,
determination or award or any such indenture, loan or credit agreement or other agreement, lease or instrument in any case in which the
consequences of such default or violation could reasonably be expected to result in a Material Adverse Effect.
(e) No
order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by, any governmental
or public body or authority is required on Guarantor’s part to authorize, or is required in connection with the execution, delivery
and performance of, or the legality, validity, binding effect or enforceability of, this Guaranty.
(f) To
Guarantor’s knowledge, there are no actions, suits or proceedings pending or threatened against or affecting Guarantor or any of
its properties before any court or arbitrator, or any governmental department, board, agency or other instrumentality which, if determined
adversely to Guarantor, could reasonably be expected to have a Material Adverse Effect or materially adversely effect Guarantor’s
ability to perform its obligations hereunder.
(g) (i)
This Guaranty is not given with actual intent to hinder, delay or defraud any entity to which Guarantor is, or will become on or after
the date of this Guaranty, indebted, (ii) Guarantor has received at least a reasonably equivalent value in exchange for the giving
of this Guaranty, (iii) Guarantor is not insolvent, as defined in any applicable state or federal statute, nor will Guarantor be
rendered insolvent by the execution and delivery of this Guaranty to Investor, and (iv) Guarantor does not intend to incur debts
that will be beyond Guarantor’s ability to pay as such debts become due.
(h) Guarantor
has examined or has had the full opportunity to examine the Note and all the other Transaction Documents, all the terms of which are acceptable
to Guarantor.
(i) This
Guaranty is given in consideration of Investor entering into the Note and providing financing thereunder.
2
(j) Guarantor
has received adequate consideration and at least a reasonably equivalent value in exchange for the giving of this Guaranty, which Guarantor
hereby acknowledges having received, and thereby will materially benefit from the financial accommodations granted to Company by Investor
pursuant to the Note. Investor may rely conclusively on the continuing warranty, hereby made, that Guarantor continues to be benefitted
by Investor’s extension of credit accommodations to Company and Investor shall have no duty to inquire into or confirm the receipt
of any such benefits, and this Guaranty shall be effective and enforceable by Investor without regard to the receipt, nature or value
of any such benefits. As such, this Guaranty is a valid and binding obligation of Guarantor. Guarantor further covenants and agrees that
it will not use lack of consideration as a defense to its performance of its obligations under this Guaranty.
3. Covenants.
Each Guarantor covenants and agrees that: (a) it will not sell, transfer, assign, pledge, encumber, distribute (whether by dividend, spin-off
or otherwise), or otherwise dispose of any equity interests in any direct or indirect subsidiary of Guarantor; (b) Guarantor will not,
and will not permit any direct or indirect subsidiary of Guarantor to, issue, sell, or grant any additional equity interests in any direct
or indirect subsidiary of Guarantor, or any options, warrants, or other rights to acquire, or any securities convertible into or exchangeable
for, such equity interests; and (c) it will not issue, incur or guaranty any debt other than the Obligations and trade payables in the
ordinary course of business.
4. Alteration
of Obligations. In such manner, upon such terms and at such times as Investor and Company deem best and without notice to Guarantor,
Investor and Company may alter, compromise, accelerate, extend, renew or change the time or manner for the payment of any Obligation,
increase or reduce the rate of interest on the Note, release Company, as to all or any portion of the Obligations, release, substitute
or add any one or more guarantors or endorsers, accept additional or substituted security therefor, or release or subordinate any security
therefor. No exercise or non-exercise by Investor of any right available to Investor, no dealing by Investor with Guarantors or any other
guarantor, endorser of the Note or any other person, and no change, impairment or release of all or a portion of the obligations of Company
under any of the Transaction Documents or suspension of any right or remedy of Investor against any person, including, without limitation,
Company and any other such guarantor, endorser or other person, shall in any way affect any of the obligations of Guarantors hereunder
or any security furnished by Guarantors or give Guarantors any recourse against Investor. Guarantors acknowledge that their obligations
hereunder are independent of the obligations of Company.
5. Waiver.
To the extent permitted by law, each Guarantor hereby waives and relinquishes all rights and remedies accorded by applicable law to guarantors
and agrees not to assert or take advantage of any such rights or remedies, including (without limitation) (a) any right to require Investor
to proceed against Company or any other person or to pursue any other remedy in Investor’s power before proceeding against Guarantor;
(b) any defense that may arise by reason of the incapacity, lack of authority, death or disability of any other person or persons or the
failure of Investor to file or enforce a claim against the estate (in administration, bankruptcy or any other proceeding) of any other
person or persons; (c) demand, protest and notice of any kind, including, without limitation, notice of the existence, creation or incurring
of any new or additional indebtedness, liability or obligation or of any action or non-action on the part of Company, Investor, any endorser
or creditor of Company or Guarantor or on the part of any other person whomsoever under this or any other instrument in connection with
any obligation or liability or evidence of indebtedness held by Investor as collateral or in connection with any Obligation hereby guaranteed;
(d) any defense based upon an election of remedies by Investor which may destroy or otherwise impair the subrogation rights of Guarantor
or the right of Guarantor to proceed against Company for reimbursement, or both; (e) any defense based upon any statute or rule of law
which provides that the obligation of a surety must be neither larger in amount nor in other respects more burdensome than that of the
principal; (f) any duty on the part of Investor to disclose to Guarantor any facts Investor may now or hereafter know about Company, regardless
of whether Investor has reason to believe that any such facts materially increase the risk beyond that which Guarantor intends to assume
or has reason to believe that such facts are unknown to Guarantor or has a reasonable opportunity to communicate such facts to Guarantor,
since Guarantor acknowledges that it is fully responsible for being and keeping informed of the financial condition of Company and of
all circumstances bearing on the risk of non-payment of any Obligation; (g) any defense arising because of Investor’s election,
in any proceeding instituted under the Federal Bankruptcy Code, of the application of Section 1111(b)(2) of the Federal Bankruptcy Code;
(h) any defense based on any borrowing or grant of a security interest under Section 364 of the Federal Bankruptcy Code; (i) any claim,
right or remedy which Guarantor may now have or hereafter acquire against Company that arises hereunder and/or from the performance by
Guarantor hereunder, including, without limitation, any claim, right or remedy of Investor against Company or any security which Investor
now has or hereafter acquires, whether or not such claim, right or remedy arises in equity, under contract, by statute, under common law
or otherwise; and (j) any obligation of Investor to pursue any other guarantor or any other person, or to foreclose on any collateral.
3
6. Bankruptcy.
So long as any Obligation shall be owing to Investor, Guarantors shall not, without the prior written consent of Investor, commence or
join with any other person in commencing any bankruptcy, reorganization, or insolvency proceeding against Company. The obligations of
Guarantors under this Guaranty shall not be altered, limited or affected by any proceeding, voluntary or involuntary, involving the bankruptcy,
insolvency, receivership, reorganization, liquidation or arrangement of Company, or by any defense which Company may have by reason of
any order, decree or decision of any court or administrative body resulting from any such proceeding.
7. Claims
in Bankruptcy. Guarantors shall file in any bankruptcy or other proceeding in which the filing of claims is required or permitted
by law all claims that Guarantors may have against Company relating to any indebtedness, liability or obligation of Company owed to Guarantors
and will assign to Investor all rights of Guarantors thereunder. If Guarantors do not file any such claim, Investor, as attorney-in-fact
for Guarantors, is hereby authorized to do so in the name of Guarantors or, in Investor’s discretion, to assign the claim to a nominee
and to cause proof of claim to be filed in the name of Investor’s nominee. The foregoing power of attorney is coupled with an interest
and cannot be revoked. Investor or Investor’s nominee shall have the sole right to accept or reject any plan proposed in such proceeding
and to take any other action that a party filing a claim is entitled to do. In all such cases, whether in administration, bankruptcy or
otherwise, the person or persons authorized to pay such claim shall pay to Investor the amount payable on such claim and, to the full
extent necessary for that purpose, Each Guarantor hereby assigns to Investor all of Guarantor’s rights to any such payments or distributions
to which Guarantor would otherwise be entitled; provided, however, that Guarantor’s obligations hereunder shall not be deemed
satisfied except to the extent that Investor receives cash by reason of any such payment or distribution. If Investor receives anything
hereunder other than cash, the same shall be held as collateral for amounts due under this Guaranty. If at any time the holder of Note
is required to refund to Company any payments made by Company under the Note because such payments have been held by a bankruptcy court
having jurisdiction over Company to constitute a preference under any bankruptcy, insolvency or similar law then in effect, or for any
other reason, then in addition to Guarantor’s other obligation under this Guaranty, Guarantor shall reimburse the holder in the
aggregate amount of such refund payments.
8. Costs
and Attorneys’ Fees. If Company or any Guarantor fails to pay all or any portion of any Obligation, or any Guarantor otherwise
breaches any provision hereof or otherwise defaults hereunder, Guarantors shall pay reasonable attorneys’ fees incurred by Investor
in connection with the enforcement of any obligations of Guarantors hereunder, including, without limitation, any reasonable attorneys’
fees incurred in any negotiation, alternative dispute resolution proceeding subsequently agreed to by the parties, if any, litigation,
or bankruptcy proceeding or any appeals from any of such proceedings.
4
9. Cumulative
Rights. The amount of Guarantors’ liability and all rights, powers and remedies of Investor hereunder and under any other agreement
now or at any time hereafter in force between Investor and Guarantors, including, without limitation, any other guaranty executed by Guarantors
relating to any indebtedness, liability or obligation of Company owed to Investor, shall be cumulative and not alternative and such rights,
powers and remedies shall be in addition to all rights, powers and remedies given to Investor by law. This Guaranty is in addition to
and not in limitation of the guaranty of any other guarantor of any indebtedness, liability or obligation of Company owed to Investor.
10. Independent
Obligations. The obligations of Guarantors hereunder are independent of the obligations of Company and, to the extent permitted by
law, in the event of any breach or default hereunder, a separate action or actions may be brought and prosecuted against any Guarantor
whether or not Company or the other Guarantors are joined therein or a separate action or actions are brought against Company, and Investor
shall have no obligation to separately pursue an action against Company with respect to the Obligations. Investor may maintain successive
actions for other breaches or defaults. Investor’s rights hereunder shall not be exhausted by Investor’s exercise of any of
Investor’s rights or remedies or by any such action or by any number of successive actions until and unless all Obligations have
been paid and fully performed.
11. Severability.
If any part of this Guaranty is construed to be in violation of any law, such part shall be modified to achieve the objective of the parties
to the fullest extent permitted and the balance of this Guaranty shall remain in full force and effect.
12. Successors
and Assigns. This Guaranty shall inure to the benefit of Investor, Investor’s successors and assigns, including the assignees
of any Obligation, and shall bind the heirs, executors, administrators, personal representatives, successors and assigns of Guarantors.
No Guarantor may assign or delegate any of its obligations hereunder without the prior written consent of Investor. This Guaranty may
be assigned by Investor with respect to all or any portion of the Obligations, and when so assigned, Guarantors shall be liable to the
assignees under this Guaranty without in any manner affecting the liability of Guarantors hereunder with respect to any Obligations retained
by Investor.
5
13. Notices.
Whenever Guarantors or Investor shall desire to give or serve any notice, demand, request or other communication with respect to this
Guaranty, each such notice shall be given in writing (unless otherwise specified herein) and shall be deemed effectively given on the
earliest of:
(a) the
date delivered, if delivered by personal delivery as against written receipt therefor or by email to an executive officer, or by confirmed
facsimile,
(b) the
fifth business day after deposit, postage prepaid, in the United States Postal Service by registered or certified mail, or
(c) the
third business day after mailing by domestic or international express courier, with delivery costs and fees prepaid,
in each case, addressed to each of the other parties
thereunto entitled at the address for such party (or Company, in respect of notices delivered to the Guarantors) set forth in the Purchase
Agreement (or at such other addresses as such party may designate by five (5) calendar days’ advance written notice similarly given
to each of the other parties hereto).
14. Application
of Payments or Recoveries. With or without notice to Guarantors, Investor, in Investor’s sole discretion and at any time and
from time to time and in such manner and upon such terms as Investor deems fit, may (a) apply any or all payments or recoveries from Company
or from any other guarantor or endorser under any other instrument or realized from any security, in such manner and order of priority
as Investor may determine, to any indebtedness, liability or obligation of Company owed to Investor, whether or not such indebtedness,
liability or obligation is guaranteed hereby or is otherwise secured or is due at the time of such application; and (b) refund to Company
any payment received by Investor in connection with any Obligation and payment of the amount refunded shall be fully guaranteed hereby.
15. Setoff.
Investor shall have a right of setoff against all monies, securities and other property of Guarantor now or hereafter in the possession
of, or on deposit with, Investor (if any), whether held in a general or special account or deposit, or for safekeeping or otherwise. Such
right is in addition to any right of setoff Investor may have by law. All rights of setoff may be exercised without notice or demand to
Guarantors. No right of setoff shall be deemed to have been waived by any act or conduct on the part of Investor, or by any neglect to
exercise such right of setoff, or by any delay in doing so. Every right of setoff shall continue in full force and effect until specifically
waived or released by an instrument in writing executed by Investor.
16. Miscellaneous.
16.1 Governing
Law and Venue. This Guaranty shall be governed by and interpreted in accordance with the laws of the State of Utah for contracts to
be wholly performed in such state and without giving effect to the principles thereof regarding the conflict of laws. Without modifying
Guarantors’ obligations to resolve disputes hereunder pursuant to the Arbitration Provisions (as defined below), each Guarantor
consents to and expressly agrees that exclusive venue for the arbitration of any dispute arising out of or relating to this Guaranty or
the relationship of the parties or their affiliates shall be in Salt Lake County, Utah. Without modifying the parties’ obligations to
resolve disputes hereunder pursuant to the Arbitration Provisions (as defined below), for any litigation arising in connection with this
Guaranty, each Guarantor hereby (a) consents to and expressly submits to the exclusive personal jurisdiction of any state court sitting
in Salt Lake County, Utah, (b) expressly submits to the exclusive venue of any such court for the purposes hereof, and (c) waives any
claim of improper venue and any claim or objection that such courts are an inconvenient forum or any other claim or objection to the bringing
of any such proceeding in such jurisdictions or to any claim that such venue of the suit, action or proceeding is improper.
6
16.2 Arbitration
of Claims. The parties hereto hereby incorporate by this reference the arbitration provisions set forth as an exhibit to the Purchase
Agreement (“Arbitration Provisions”). The parties shall submit all Claims (as defined in the Arbitration Provisions)
arising under this Guaranty or other agreements between the parties and their affiliates to binding arbitration pursuant to the Arbitration
Provisions. The parties hereby acknowledge and agree that the Arbitration Provisions are unconditionally binding on the parties hereto
and are severable from all other provisions of this Guaranty. Any capitalized term not defined in the Arbitration Provisions shall have
the meaning set forth in the Purchase Agreement. By executing this Guaranty, each Guarantor represents, warrants and covenants that such
Guarantor has reviewed the Arbitration Provisions carefully, has had the opportunity to consult with legal counsel about such provisions
and either has done so or knowingly and voluntarily waived such right, understands that the Arbitration Provisions are intended to allow
for the expeditious and efficient resolution of any dispute hereunder, agrees to the terms and limitations set forth in the Arbitration
Provisions, and that Guarantor will not take a position contrary to the foregoing representations. Each Guarantor acknowledges and agrees
that Investor may rely upon the foregoing representations and covenants of Guarantor regarding the Arbitration Provisions.
16.3 Entire
Agreement. Except as provided in any other written agreement now or at any time hereafter in force between Investor and Guarantors,
this Guaranty shall constitute the entire agreement of Guarantors with Investor with respect to the subject matter hereof, and no representation,
understanding, promise or condition concerning the subject matter hereof shall be binding upon Investor unless expressed herein.
16.4 Counterparts.
This Guaranty may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. Counterparts may be delivered via electronic signature (including PDF or any electronic signature
complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com), or other transmission method, and any counterpart so delivered
shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.
16.5 Construction.
When the context and construction so require, all words used in the singular herein shall be deemed to have been used in the plural and
the masculine shall include the feminine and neuter and vice versa. The word “person” as used herein shall include any individual,
company, firm, association, partnership, corporation, trust or other legal entity of any kind whatsoever. The headings of this Guaranty
are inserted for convenience only and shall have no effect upon the construction or interpretation hereof.
16.6 Waiver.
No provision of this Guaranty or right granted to Investor hereunder can be waived in whole or in part nor can Guarantors be released
from Guarantors’ obligations hereunder except by a writing duly executed by an authorized officer of Investor. Any such waiver shall be
effective only for the specific instance and purpose for which it is given.
16.7 No
Subrogation. Until all indebtedness, liabilities and obligations of Company owed to Investor have been paid in full, Guarantors shall
not have any right of subrogation, contribution, or reimbursement against Company or any other guarantor.
16.8 Survival.
All representations, warranties, covenants, and obligations contained in this Guaranty shall survive the execution, delivery and performance
of this Guaranty, the creation and payment of the Obligations, and any termination or expiration of this Guaranty.
16.9 Joint
and Several Liability. Each Guarantor’s covenants, obligations and agreements set forth herein are joint and several liabilities
and obligations of Guarantor together with every other guarantor of the Obligations, whether now existing or hereafter arising, and whether
or not such other guarantors are named in this Guaranty.
[Remainder of page intentionally left blank;
signature page to follow]
7
IN WITNESS WHEREOF, each Guarantor
has executed this Guaranty to be effective as of the date first set forth above.
CardioVentures Inc., a Delaware corporation
By:
/s/ Sudhir Prem Srivastava
Sudhir Prem Srivastava, CEO
Avra IP Holdings, Inc., a Delaware corporation
By:
/s/ Sudhir Prem Srivastava
Sudhir Prem Srivastava, CEO
SSI IP Holdings, Inc., a Delaware corporation
By:
/s/ Sudhir Prem Srivastava, CEO
Sudhir Prem Srivastava, CEO
Otto Pvt. Ltd., a Bahamas private limited company
By:
/s/ Sudhir Prem Srivastava
Sudhir Prem Srivastava, CEO
SS International Centre for Robotics Surgery Pvt Ltd, an Indian private limited company
By:
/s/ Sudhir Prem Srivastava
Sudhir Prem Srivastava, CEO
[Signature Page to Guaranty]
GRAPHIC
GRAPHIC
Filename: ea030806201_ex5-1img1.jpg · Sequence: 8
Binary file (59296 bytes)
Download ea030806201_ex5-1img1.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img1.jpg · Sequence: 9
Binary file (2887 bytes)
Download ea030806201_ex10-2img1.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img2.jpg · Sequence: 10
Binary file (2959 bytes)
Download ea030806201_ex10-2img2.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img3.jpg · Sequence: 11
Binary file (2931 bytes)
Download ea030806201_ex10-2img3.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img4.jpg · Sequence: 12
Binary file (5576 bytes)
Download ea030806201_ex10-2img4.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img5.jpg · Sequence: 13
Binary file (3520 bytes)
Download ea030806201_ex10-2img5.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img6.jpg · Sequence: 14
Binary file (6586 bytes)
Download ea030806201_ex10-2img6.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img7.jpg · Sequence: 15
Binary file (11236 bytes)
Download ea030806201_ex10-2img7.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img8.jpg · Sequence: 16
Binary file (4350 bytes)
Download ea030806201_ex10-2img8.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img9.jpg · Sequence: 17
Binary file (4027 bytes)
Download ea030806201_ex10-2img9.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img10.jpg · Sequence: 18
Binary file (3706 bytes)
Download ea030806201_ex10-2img10.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img11.jpg · Sequence: 19
Binary file (3464 bytes)
Download ea030806201_ex10-2img11.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img12.jpg · Sequence: 20
Binary file (6188 bytes)
Download ea030806201_ex10-2img12.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img13.jpg · Sequence: 21
Binary file (3800 bytes)
Download ea030806201_ex10-2img13.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img14.jpg · Sequence: 22
Binary file (3658 bytes)
Download ea030806201_ex10-2img14.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img15.jpg · Sequence: 23
Binary file (3149 bytes)
Download ea030806201_ex10-2img15.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img16.jpg · Sequence: 24
Binary file (3332 bytes)
Download ea030806201_ex10-2img16.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img17.jpg · Sequence: 25
Binary file (3056 bytes)
Download ea030806201_ex10-2img17.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img18.jpg · Sequence: 26
Binary file (4490 bytes)
Download ea030806201_ex10-2img18.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img19.jpg · Sequence: 27
Binary file (3461 bytes)
Download ea030806201_ex10-2img19.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img20.jpg · Sequence: 28
Binary file (2738 bytes)
Download ea030806201_ex10-2img20.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img21.jpg · Sequence: 29
Binary file (5353 bytes)
Download ea030806201_ex10-2img21.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img22.jpg · Sequence: 30
Binary file (3895 bytes)
Download ea030806201_ex10-2img22.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img23.jpg · Sequence: 31
Binary file (5334 bytes)
Download ea030806201_ex10-2img23.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img24.jpg · Sequence: 32
Binary file (6709 bytes)
Download ea030806201_ex10-2img24.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img25.jpg · Sequence: 33
Binary file (3839 bytes)
Download ea030806201_ex10-2img25.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img26.jpg · Sequence: 34
Binary file (1770 bytes)
Download ea030806201_ex10-2img26.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img27.jpg · Sequence: 35
Binary file (2222 bytes)
Download ea030806201_ex10-2img27.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img28.jpg · Sequence: 36
Binary file (2994 bytes)
Download ea030806201_ex10-2img28.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img29.jpg · Sequence: 37
Binary file (3615 bytes)
Download ea030806201_ex10-2img29.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img30.jpg · Sequence: 38
Binary file (5263 bytes)
Download ea030806201_ex10-2img30.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img31.jpg · Sequence: 39
Binary file (3840 bytes)
Download ea030806201_ex10-2img31.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img32.jpg · Sequence: 40
Binary file (1840 bytes)
Download ea030806201_ex10-2img32.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img33.jpg · Sequence: 41
Binary file (4802 bytes)
Download ea030806201_ex10-2img33.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img34.jpg · Sequence: 42
Binary file (3965 bytes)
Download ea030806201_ex10-2img34.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img35.jpg · Sequence: 43
Binary file (4711 bytes)
Download ea030806201_ex10-2img35.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img36.jpg · Sequence: 44
Binary file (8273 bytes)
Download ea030806201_ex10-2img36.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img37.jpg · Sequence: 45
Binary file (135402 bytes)
Download ea030806201_ex10-2img37.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img38.jpg · Sequence: 46
Binary file (1438 bytes)
Download ea030806201_ex10-2img38.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img39.jpg · Sequence: 47
Binary file (1451 bytes)
Download ea030806201_ex10-2img39.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img40.jpg · Sequence: 48
Binary file (4295 bytes)
Download ea030806201_ex10-2img40.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img41.jpg · Sequence: 49
Binary file (5640 bytes)
Download ea030806201_ex10-2img41.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img42.jpg · Sequence: 50
Binary file (6699 bytes)
Download ea030806201_ex10-2img42.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img43.jpg · Sequence: 51
Binary file (3715 bytes)
Download ea030806201_ex10-2img43.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img44.jpg · Sequence: 52
Binary file (6497 bytes)
Download ea030806201_ex10-2img44.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img45.jpg · Sequence: 53
Binary file (52385 bytes)
Download ea030806201_ex10-2img45.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img46.jpg · Sequence: 54
Binary file (3219 bytes)
Download ea030806201_ex10-2img46.jpg
GRAPHIC
GRAPHIC
Filename: ea030806201_ex10-2img47.jpg · Sequence: 55
Binary file (2691 bytes)
Download ea030806201_ex10-2img47.jpg
XML — IDEA: XBRL DOCUMENT
XML
Filename: R1.htm · Sequence: 60
v3.26.3
Cover
Oct. 09, 2026
Cover [Abstract]
Document Type
8-K
Amendment Flag
false
Document Period End Date
Oct. 09, 2026
Entity File Number
001-42615
Entity Registrant Name
SS INNOVATIONS INTERNATIONAL, INC.
Entity Central Index Key
0001676163
Entity Tax Identification Number
47-3478854
Entity Incorporation, State or Country Code
FL
Entity Address, Address Line One
405, 3rd Floor
Entity Address, Address Line Two
iLabs Info Technology Centre
Entity Address, Address Line Three
Udyog Vihar, Phase III
Entity Address, City or Town
Gurugram
Entity Address, Country
IN
Entity Address, Postal Zip Code
122016
City Area Code
+91
Local Phone Number
73375 53469
Written Communications
false
Soliciting Material
false
Pre-commencement Tender Offer
false
Pre-commencement Issuer Tender Offer
false
Title of 12(b) Security
Common Stock
Trading Symbol
SSII
Security Exchange Name
NASDAQ
Entity Emerging Growth Company
false
X
- Definition
Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
No definition available.
+ Details
Name:
dei_AmendmentFlag
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Area code of city
+ References
No definition available.
+ Details
Name:
dei_CityAreaCode
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Cover page.
+ References
No definition available.
+ Details
Name:
dei_CoverAbstract
Namespace Prefix:
dei_
Data Type:
xbrli:stringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
No definition available.
+ Details
Name:
dei_DocumentPeriodEndDate
Namespace Prefix:
dei_
Data Type:
xbrli:dateItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
No definition available.
+ Details
Name:
dei_DocumentType
Namespace Prefix:
dei_
Data Type:
dei:submissionTypeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Address Line 1 such as Attn, Building Name, Street Name
+ References
No definition available.
+ Details
Name:
dei_EntityAddressAddressLine1
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Address Line 2 such as Street or Suite number
+ References
No definition available.
+ Details
Name:
dei_EntityAddressAddressLine2
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Address Line 3 such as an Office Park
+ References
No definition available.
+ Details
Name:
dei_EntityAddressAddressLine3
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the City or Town
+ References
No definition available.
+ Details
Name:
dei_EntityAddressCityOrTown
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
ISO 3166-1 alpha-2 country code.
+ References
No definition available.
+ Details
Name:
dei_EntityAddressCountry
Namespace Prefix:
dei_
Data Type:
dei:countryCodeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Code for the postal or zip code
+ References
No definition available.
+ Details
Name:
dei_EntityAddressPostalZipCode
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityCentralIndexKey
Namespace Prefix:
dei_
Data Type:
dei:centralIndexKeyItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Indicate if registrant meets the emerging growth company criteria.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityEmergingGrowthCompany
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
No definition available.
+ Details
Name:
dei_EntityFileNumber
Namespace Prefix:
dei_
Data Type:
dei:fileNumberItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Two-character EDGAR code representing the state or country of incorporation.
+ References
No definition available.
+ Details
Name:
dei_EntityIncorporationStateCountryCode
Namespace Prefix:
dei_
Data Type:
dei:edgarStateCountryItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityRegistrantName
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityTaxIdentificationNumber
Namespace Prefix:
dei_
Data Type:
dei:employerIdItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Local phone number for entity.
+ References
No definition available.
+ Details
Name:
dei_LocalPhoneNumber
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
+ Details
Name:
dei_PreCommencementIssuerTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
+ Details
Name:
dei_PreCommencementTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Title of a 12(b) registered security.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
+ Details
Name:
dei_Security12bTitle
Namespace Prefix:
dei_
Data Type:
dei:securityTitleItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the Exchange on which a security is registered.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
+ Details
Name:
dei_SecurityExchangeName
Namespace Prefix:
dei_
Data Type:
dei:edgarExchangeCodeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
+ Details
Name:
dei_SolicitingMaterial
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
Name:
dei_TradingSymbol
Namespace Prefix:
dei_
Data Type:
dei:tradingSymbolItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
+ Details
Name:
dei_WrittenCommunications
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration