Exhibit
10.1


 


EXECUTION
VERSION


 


Streamline
health solutions, inc., a delaware corporation


streamline
health, inc., aN OHIO corporation


 


WESTERN
ALLIANCE BANK, an arizona corporation




amended and restated LOAN AND SECURITY AGREEMENT


 




    	 



     


    

 


This
AMENDED AND RESTATED Loan And Security Agreement is entered into as of March
2, 2021, by and between Western Alliance Bank, an Arizona corporation (“Bank”),
Streamline Health Solutions, Inc., a Delaware corporation (“Streamline”),
and STREAMLINE HEALTH, INC., an Ohio corporation (“Streamline Health” and together with any other Person
who, from time to time, becomes a Borrower hereunder, collectively the “Borrowers” and each individually a
“Borrower”).


 


Recitals


 


WHEREAS,
Borrower and Bank have entered into financing
arrangements pursuant to which Bank has made available loans and advances to Borrower and provided other financial accommodations
to Borrower as set forth in the Existing Agreement and the Existing Loan Documents; and


 


WHEREAS,
an Event of Default has occurred and is continuing under Section 8.2(a) of the Existing Agreement due to Borrower’s failure
to comply with Section 6.9(b) of the Existing Agreement, as in effect immediately prior to the date hereof, for the month ending
November 30, 2020 (the “Specified Default”); and


 


WHEREAS,
Borrower has requested that Bank (a) amend the Existing Agreement, (b) waive the Specified Default and (c) continue the existing
financing arrangements with Borrower. This Agreement sets forth the terms on which Bank will advance credit to Borrower, and Borrower
will repay the amounts owing to Bank.


 


Agreement


 


The
parties agree to amend and restate the Existing Agreement as follows:


 


1.
Definitions and Construction.


 


1.1
Definitions. As used in this Agreement, the following terms shall have the following definitions:


 


“Accounts”
means all presently existing and hereafter arising accounts, contract rights, payment intangibles, and all other forms of obligations
owing to Borrower arising out of the sale or lease of goods (including, without limitation, the licensing of software and other
technology) or the rendering of services by Borrower, 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 Borrower and Borrower’s
Books relating to any of the foregoing.


 


“Adjusted
EBITDA” means, with respect to any period of determination, Borrower’s Net Income, plus (without duplication) (i)
interest expense, (ii) income tax expense, (iii) depreciation and amortization expense, (iv) non-cash stock compensation expense
and (v) other non-recurring expenses as approved by Bank on a case-by-case basis, minus (vi) all capitalized expenses (including,
without limitation capitalized software development expenses)


 


“Advance”
or “Advances” means a cash advance or cash advances under this Agreement.


 


“Affiliate”
means, with respect to any Person, any Person that owns or controls directly or indirectly such Person, any Person that controls
or is controlled by or is under common control with such Person, and each of such Person’s senior executive officers, directors,
and partners.


 


“Assignment
of Claims Act” means the Assignment of Claims Act, 31 USC §3727, as amended.


 


“Bank
Expenses” means all: reasonable costs or expenses (including reasonable attorneys’ fees and expenses) incurred in
connection with the preparation, negotiation, administration, and enforcement of the Loan Documents; reasonable Collateral audit
fees; and Bank’s reasonable attorneys’ fees and expenses incurred in amending, enforcing or defending the Loan Documents
(including fees and expenses of appeal), incurred before, during and after an Insolvency Proceeding, whether or not suit is brought
or any other Event of Default.


 




    	 



     


    

 


“Borrower’s
Books” means all of Borrower’s books and records including: ledgers; records concerning Borrower’s assets or
liabilities, the Collateral, business operations or financial condition; and all computer programs, or tape files, and the equipment,
containing such information.


 


“Borrowing
Base” means, as of any date of determination, an amount equal to the lesser of (a) the Revolving Line or (b) the MRR Retention
Rate, multiplied by Borrower’s trailing three (3) months of Monthly Recurring Revenue from the Eligible Recurring
Revenue Contracts as of the last day of the most recently completed month, as determined by Bank in accordance with the most recent
Borrowing Base Certificate delivered by Borrower.


 


“Business
Day” means any day that is not a Saturday, Sunday, or other day on which banks in the State of California are authorized
or required to close.


 


“CARES
Act” means the U.S. Small Business Administration, Coronavirus Aid, Relief, and Economic Security Act.


 


“Change
in Control” shall mean a transaction in which any “person” or “group” (within the meaning of Section
13(d) and 14(d)(2) of the Securities Exchange Act of 1934) becomes the “beneficial owner” (as defined in Rule 13d-3
under the Securities Exchange Act of 1934), directly or indirectly, of a sufficient number of shares of all classes of stock or
other equity securities, as applicable, then outstanding of Borrower ordinarily entitled to vote in the election of directors,
empowering such “person” or “group” to elect a majority of the Board of Directors of Borrower, who did
not have such power before such transaction.


 


“Closing
Date” means the date of this Agreement.


 


“Code”
means the California Uniform Commercial Code, as amended from time to time.


 


“Collateral”
means the property described on Exhibit A attached hereto.


 


“Collections”
means all payments from or on behalf of an account debtor with respect to Borrower’s rights to payment arising in the ordinary
course of Borrower’s business, including accounts, chattel paper, instruments, contract rights, documents, general intangibles,
letters of credit, drafts, and bankers’ acceptances.


 


“Contingent
Obligation” means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of that Person with
respect to (i) any indebtedness, lease, dividend, letter of credit or other obligation of another; (ii) any obligations with respect
to undrawn letters of credit, corporate credit cards, or merchant services issued or provided for the account of that Person;
and (iii) all obligations arising under any agreement or arrangement designed to protect such Person against fluctuation in interest
rates, currency exchange rates or commodity prices; provided, however, that the term “Contingent Obligation” shall
not include endorsements for collection or deposit in the ordinary course of business. The amount of any Contingent Obligation
shall be deemed to be an amount equal to the stated or determined amount of the primary obligation in respect of which such Contingent
Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined
by Bank in good faith; provided, however, that such amount shall not in any event exceed the maximum amount of the obligations
under the guarantee or other support arrangement.


 


“Contracts”
means software as a service and maintenance support contracts of Borrower.


 


“Control
Agreement” is any control agreement entered into among the depository institution at which Borrower maintains a deposit
account or the securities intermediary or commodity intermediary at which Borrower maintains a securities account or a commodity
account, Borrower, and Bank pursuant to which Bank obtains control (within the meaning of the Code) over any such account.


 


“Copyrights”
means any and all copyright rights, copyright applications, copyright registrations and like protections in each work or authorship
and derivative work thereof.


 




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“Credit
Extension” means each Advance, or any other extension of credit by Bank for the benefit of Borrower hereunder.


 


“Daily
Balance” means the amount of the Obligations owed at the end of a given day.


 


“Eligible
Recurring Revenue Contracts” means Contracts billed and collected within the United States yielding Monthly Recurring Revenue,
provided that standards of eligibility may be fixed and revised from time to time by Bank in Bank’s reasonable judgment
and upon notification thereof to Borrower in accordance with the provisions hereof. Unless otherwise agreed to by Bank, Eligible
Recurring Revenue Contracts shall not include the following:


 


(a)
Contracts for which such Contract is not paid within ninety (90) days of invoice date without the Bank’s prior written consent;


 


(b)
Contracts which the customer thereunder has elected to cancel or has failed to renew within the time period prescribed in such
Contracts; and


 


(c)
Contracts with respect to which the customer is subject to any Insolvency Proceeding, or becomes insolvent or goes out of business.


 


“Equipment”
means all present and future machinery, equipment, tenant improvements, furniture, fixtures, vehicles, tools, parts and attachments
in which Borrower has any interest.


 


“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended, and the regulations thereunder.


 


“Existing
Agreement” means that certain Loan and Security Agreement, dated as of December 11, 2019, by and between Borrower and Bank,
as amended, restated, supplemented and otherwise modified from time to time prior to the date of this Agreement.


 


“Existing
Loan Documents” means, collectively, all agreements, documents and/or instruments at any time executed or delivered in connection
with the Existing Agreement, in each case, as amended, restated, supplemented or otherwise modified from time to time prior to
the date of this Agreement.


 


“Existing
Obligations” shall mean all indebtedness, obligations and liabilities of Borrower to Bank under or pursuant to the Existing
Agreement and the Existing Loan Documents, including, without limitation, all “Obligations” as defined in the Existing
Agreement.


 


“Event
of Default” has the meaning assigned in Article 8.


 


“GAAP”
means generally accepted accounting principles as in effect from time to time.


 


“Governmental
Authority” is any nation or government, any state or other political subdivision thereof, any agency, authority, instrumentality,
regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative
functions of or pertaining to government, any securities exchange and any self-regulatory organization.


 


“Guarantor”
is any Person providing a Guaranty in favor of Bank.


 


“Guaranty”
is any guarantee of all or any part of the Obligations, as the same may from time to time be amended, restated, modified or otherwise
supplemented.


 


“Indebtedness”
means (a) all indebtedness for borrowed money or the deferred purchase price of property or services, including without limitation
reimbursement and other obligations with respect to surety bonds and letters of credit, but excluding unsecured obligations to
trade creditors incurred in the ordinary course of business to the extent not more than ninety (90) days’ past due or to
the extent contested in good faith, (b) all obligations evidenced by notes, bonds, debentures or similar instruments, (c) all
capital lease obligations and (d) all Contingent Obligations.


 




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“Insolvency
Proceeding” means any proceeding commenced by or against any person or entity under any provision of the United States Bankruptcy
Code, as amended, or under any other bankruptcy or insolvency law, including assignments for the benefit of creditors, formal
or informal moratoria, compositions, extension generally with its creditors, or proceedings seeking reorganization, arrangement,
or other relief.


 


“Intellectual
Property Collateral” means all of Borrower’s right, title, and interest in and to the following: Copyrights, Trademarks
and Patents; all trade secrets, all design rights, claims for damages by way of past, present and future infringement of any of
the rights included above, all licenses or other rights to use any of the Copyrights, Patents or Trademarks, and all license fees
and royalties arising from such use to the extent permitted by such license or rights; all amendments, renewals and extensions
of any of the Copyrights, Trademarks or Patents; and all proceeds and products of the foregoing, including without limitation
all payments under insurance or any indemnity or warranty payable in respect of any of the foregoing.


 


“Inventory”
means all inventory in which Borrower has or acquires any interest, including work in process and finished products intended for
sale or lease or to be furnished under a contract of service, of every kind and description now or at any time hereafter owned
by or in the custody or possession, actual or constructive, of Borrower, including such inventory as is temporarily out of its
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 Borrower’s
Books relating to any of the foregoing.


 


“Investment”
means any beneficial ownership of (including stock, partnership interest or other securities) any Person, or any loan, advance
or capital contribution to any Person.


 


“Lien”
means any mortgage, lien, deed of trust, charge, pledge, security interest or other encumbrance.


 


“Loan
Documents” means, collectively, this Agreement, the Warrant, any agreement relating to success fees, any Credit Card Services
Agreements, any agreements related to letters of credit, any subordination/intercreditor agreements, any pledge or security agreements,
any note or notes executed by Borrower or any other Person, and any other agreement, instrument or document entered into in connection
with this Agreement, all as amended, restated, supplemented or otherwise modified or extended from time to time.


 


“Material
Adverse Effect” means a material adverse effect on (i) the business operations, condition (financial or otherwise) or prospects
of Borrower and its Subsidiaries taken as a whole or (ii) the ability of Borrower to repay the Obligations or otherwise perform
its obligations under the Loan Documents or (iii) the value or priority of Bank’s security interests in the Collateral.


 


“Monthly
Recurring Revenue” means, with respect to any measurement period, monthly recurring revenue recognized in accordance with
GAAP during such period from Contracts.


 


“MRR
Retention Rate” means as of the last day of a month, the ratio, expressed as a percentage, of (a) Monthly Recurring Revenue
from Eligible Recurring Revenue Contracts for the trailing three (3) month period ending on such date (such three month period,
the “Measurement Date”), to (y) Borrower’s Monthly Recurring Revenue from all Contracts for the Measurement
Date; provided, that, Bank has the right to decrease the MRR Retention Rate, in its good faith business judgment following each
audit of the Collateral or as Bank deems reasonably necessary to mitigate the impact of events, conditions, contingencies, or
risks which may adversely affect the Collateral or its value.


 


“Negotiable
Collateral” means all letters of credit of which Borrower is a beneficiary, notes, drafts, instruments, securities, documents
of title, and chattel paper, and Borrower’s Books relating to any of the foregoing.


 




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“Net
Income” means income after taxes and all other appropriate deductions from revenue according to GAAP.


 


“Obligations”
means all debt, principal, interest, any prepayment fee, Bank Expenses and other amounts owed to Bank by Borrower pursuant to
this Agreement, any Credit Card Services Agreement, or any other agreement, whether absolute or contingent, due or to become due,
now existing or hereafter arising, including any interest that accrues after the commencement of an Insolvency Proceeding and
including any debt, liability, or obligation owing from Borrower to others that Bank may have obtained by assignment or otherwise.


 


“Patents”
means all patents, patent applications and like protections including without limitation improvements, divisions, continuations,
renewals, reissues, extensions and continuations-in-part of the same.


 


“Periodic
Payments” means all installments or similar recurring payments that Borrower may now or hereafter become obligated to pay
to Bank pursuant to the terms and provisions of any instrument, or agreement now or hereafter in existence between Borrower and
Bank.


 


“Permitted
Indebtedness” means:


 


(a)
Indebtedness of Borrower in favor of Bank arising under this Agreement or any other Loan Document;


 


(b)
Indebtedness existing on the Closing Date and disclosed in the Schedule;


 


(c)
Indebtedness secured by a lien described in clause (d) of the defined term “Permitted Liens,” provided (i) such Indebtedness
does not exceed the lesser of the cost or fair market value of the equipment financed with such Indebtedness and (ii) such Indebtedness
does not exceed Two Hundred Fifty Thousand Dollars ($250,000) in the aggregate at any given time;


 


(d)
Indebtedness consisting of the endorsement of negotiable instruments for deposit or collection or similar transactions in the
ordinary course of business;


 


(e)
Indebtedness incurred to pay premiums for insurance policies maintained by the Borrowers and their Subsidiaries in the ordinary
course of business not exceeding in aggregate the amount of such unpaid premiums;


 


(f)
Subordinated Debt;


 


(g)
Indebtedness consisting of Contingent Obligations incurred by a Borrower with respect to obligations of another Borrower that
constitutes Permitted Indebtedness hereunder;


 


(h)
the PPP Loan so long as: (i) Borrower agrees to request forgiveness of the PPP Loan up to the maximum amount permitted under the
PPP Loan prior to any interest or principal payment becoming due and at least 75% of the PPP Loan is timely forgiven, (ii) such
Borrower is in complete compliance with all applicable U.S. Small Business Administration regulations and loan eligibility requirements
and the guarantee by the U.S. Small Business Administration remains in full force and effect while the PPP Loan remains outstanding,
and (iii) no payment shall be made under the PPP Loan other than regularly scheduled principal and interest payments so long as
no default or Event of Default has occurred and is continuing after giving effect to such payment


 


(i)
other Indebtedness in a principal amount not to exceed $50,000 at any one time outstanding.


 




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“Permitted
Investment” means:


 


(a)
Investments existing on the Closing Date disclosed in the Schedule;


 


(b)
Investments (i) among Borrowers, (ii) among Subsidiaries that are not Borrowers, (iii) by a Subsidiary that is not a Borrower
in a Borrower, provided that if the Investment constitutes Indebtedness of the applicable Borrower to such Subsidiary, such Indebtedness
shall be subject to an intercompany subordination agreement in form and substance satisfactory to Bank;


 


(c)
Investments consisting of repurchases of equity interests permitted pursuant to Section 7.6;


 


(d)
Investments consisting of the endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary
course of Borrower;


 


(e)
Investments (including debt obligations) received in connection with the bankruptcy or reorganization of customers or suppliers
and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course
of business;


 


(f)
Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who
are not Affiliates, in the ordinary course of business; provided that this paragraph (f) shall not apply to Investments of Borrower
in any Subsidiary;


 


(g)
(i) marketable direct obligations issued or unconditionally guaranteed by the United States of America or any agency or any State
thereof maturing within one (1) year from the date of acquisition thereof, (ii) commercial paper maturing no more than one (1)
year from the date of creation thereof and currently having rating of at least A-2 or P-2 from either Standard & Poor’s
Corporation or Moody’s Investors Service, (iii) certificates of deposit maturing no more than one (1) year from the date
of investment therein issued by Bank and (iv) Bank’s money market accounts; and


 


(h)
Other Investments in an aggregate amount of not more than $50,000 in any fiscal year of Borrower.


 


“Permitted
Liens” means the following:


 


(a)
Liens in favor of the Bank.


 


(b)
Any Liens existing on the Closing Date and disclosed in the Schedule or arising under this Agreement or the other Loan Documents;


 


(c)
Liens for taxes, fees, assessments or other governmental charges or levies, either (i) not delinquent or (ii) being contested
in good faith by appropriate proceedings, provided the same (i) have no priority over any of Bank’s security interests,
(ii) are not subject to enforcement actions by the holder of such Lien;


 


(d)
Liens (i) upon or in any equipment which was not financed by Bank acquired or held by Borrower or any of its Subsidiaries to secure
the purchase price of such equipment or indebtedness incurred solely for the purpose of financing the acquisition of such equipment,
or (ii) existing on such equipment at the time of its acquisition, provided that the Lien is confined solely to the property so
acquired and improvements thereon, and the proceeds of such equipment;


 


(e)
Liens incurred in connection with the extension, renewal or refinancing of the indebtedness secured by Liens of the type described
in clauses (b) through (d) above, provided that any extension, renewal or replacement Lien shall be limited to the property encumbered
by the existing Lien and the principal amount of the indebtedness being extended, renewed or refinanced does not increase (other
than by the amount of premiums paid thereon and the fees and expenses incurred in connection therewith and by the amount of unfunded
commitments with respect thereto);


 




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(f)
Liens of carriers, warehousemen, suppliers, or other Persons that are possessory in nature arising in the ordinary course of business
so long as such Liens attach only to Inventory, securing liabilities in the aggregate amount not to exceed Fifty Thousand Dollars
($50,000) and which are not delinquent or remain payable without penalty or which are being contested in good faith and by appropriate
proceedings which proceedings have the effect of preventing the forfeiture or sale of the property subject thereto;


 


(g)
Liens to secure payment of workers’ compensation, employment insurance, old-age pensions, social security and other like
obligations incurred in the ordinary course of business (other than Liens imposed by ERISA);


 


(h)
leases or subleases of real property granted in the ordinary course of Borrower’s business (or, if referring to another
Person, in the ordinary course of such Person’s business), and leases, subleases, non-exclusive licenses or sublicenses
of personal property granted in the ordinary course of Borrower’s business (or, if referring to another Person, in the ordinary
course of such Person’s business), if the leases, subleases, licenses and sublicenses do not prohibit granting Bank a security
interest therein;


 


(i)
non-exclusive licenses of Intellectual Property granted to third parties in the ordinary course of business;


 


(j)
Liens in favor of other financial institutions arising in connection with a Borrower’s deposit and/or securities accounts
held at such institutions, provided that (i) to the extent required hereby, Bank has a first priority perfected security interest
in the amounts held in such deposit and/or securities accounts, and (ii) such accounts are permitted to be maintained pursuant
to Section 6.8 of this Agreement;


 


(k)
Liens in favor of other financial institutions arising in connection with a Borrower’s deposit and/or securities accounts
held at such institutions;


 


(l)
Liens granted in the ordinary course of business on the unearned portion of insurance premiums securing the financing of insurance
premiums to the extent the financing is permitted under the definition of Permitted Indebtedness;


 


(m)
Liens arising from attachments or judgments, orders or decrees in circumstances not constituting an Event of Default under Sections
8.4 and 8.7; and


 


(n)
Other Liens which do not secure Indebtedness for borrowed money or letters of credit as to which the aggregate amount of the obligations
secured thereby does not exceed $50,000.


 


“Person”
means any individual, sole proprietorship, partnership, limited liability company, joint venture, trust, unincorporated organization,
association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or governmental agency.


 


“PPP
Loan” means a loan by Bank to Borrower in connection with the Paycheck Protection Program under the CARES Act in the original
principal amount of $2,300,600.


 


“Prime
Rate” means the greater of (a) four percent (4%) or (b) the Prime Rate published in the Money Rates section of the Western
Edition of The Wall Street Journal, or such other rate of interest publicly announced from time to time by Bank as its Prime Rate.
Bank may price loans to its customers at, above or below the Prime Rate. Any change in the Prime Rate shall take effect at the
opening of business on the day specified in the public announcement of a change in Prime Rate.


 


“Responsible
Officer” means each of the Chief Executive Officer, the Chief Operating Officer, the Chief Financial Officer and the Controller
of Borrower.


 




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“Recurring
Revenue” means, with respect to any measurement period, recurring revenue from software as a service contracts and maintenance
support contracts, in each case, recognized in accordance with GAAP during such period.


 


“Revolving
Facility” means the facility under which Borrower may request Bank to issue Advances, as specified in Section 2.1(a) hereof.


 


“Revolving
Line” means a credit extension of up to Three Million Dollars ($3,000,000).


 


“Revolving
Maturity Date” means twenty four (24) months from the Closing Date.


 


“Schedule”
means the schedule of exceptions attached hereto and approved by Bank, if any.


 


“Shares”
means one hundred percent (100%) of the issued and outstanding capital stock, membership units or other securities owned or held
of record by Borrower in any Subsidiary of Borrower.


 


“Subordinated
Debt” means any debt incurred by Borrower that is subordinated to the debt owing by Borrower to Bank on terms acceptable
to Bank (and identified as being such by Borrower and Bank), pursuant to a subordination agreement in form and substance satisfactory
to Bank.


 


“Subsidiary”
means any corporation, company or partnership in which (i) any general partnership interest or (ii) more than fifty percent (50%)
of the stock or other units of ownership which by the terms thereof has the ordinary voting power to elect the Board of Directors,
managers or trustees of the entity, at the time as of which any determination is being made, is owned by Borrower, either directly
or through an Affiliate.


 


“Trademarks”
means any trademark and servicemark rights, whether registered or not, applications to register and registrations of the same
and like protections, and the entire goodwill of the business of Borrower connected with and symbolized by such trademarks.


 


“Warrant”
means that certain Warrant to Purchase Stock dated as of the Closing Date issued by Borrower in favor of Bank, and any other warrant
issued by Borrower to Bank, in each case, as amended, restated and/or supplemented from time to time.


 


1.2
Accounting Terms. All accounting terms not specifically defined herein shall be construed in accordance with GAAP and all
calculations made hereunder shall be made in accordance with GAAP. When used herein, the terms “financial statements”
shall include the notes and schedules thereto.


 


2.
Loan and Terms Of Payment.


 


2.1
Credit Extensions.


 


Borrower
promises to pay to the order of Bank, in lawful money of the United States of America, the aggregate unpaid principal amount of
all Credit Extensions made by Bank to Borrower hereunder. Borrower shall also pay interest on the unpaid principal amount of such
Credit Extensions at rates in accordance with the terms hereof.


 


(a)
Revolving Advances.


 


(i)
Subject to and upon the terms and conditions of this Agreement, Borrower may request Advances in an aggregate outstanding amount
not to exceed the lesser of (i) the Revolving Line or (ii) the Borrowing Base. Subject to the terms and conditions of this Agreement,
amounts borrowed pursuant to this Section 2.1(a) may be repaid and reborrowed at any time prior to the Revolving Maturity Date,
at which time all Advances under this Section 2.1(a) shall be immediately due and payable. Borrower may prepay any Advances without
penalty or premium.


 




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(ii)
Whenever Borrower desires an Advance, Borrower will notify Bank no later than 3:00 p.m. Pacific time, on the Business Day that
the Advance is to be made. Each such notification shall be made (i) by telephone or in-person followed by written confirmation
from Borrower within 24 hours, (ii) by electronic mail, or (iii) by delivering to Bank a Revolving Advance Request Form in substantially
the form of Exhibit B hereto. Bank is authorized to make Advances under this Agreement, based upon instructions received
from a Responsible Officer or a designee of a Responsible Officer, or without instructions if in Bank’s discretion such
Advances are necessary to meet Obligations which have become due and remain unpaid. Bank shall be entitled to rely on any notice
given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrower shall indemnify
and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Advances
made under this Section 2.1(a) to Borrower’s deposit account.


 


(b)
[Intentionally Omitted].


 


2.2
Overadvances. If the aggregate amount of the outstanding Advances exceeds the lesser of the Revolving Line or the Borrowing
Base at any time, then Borrower shall immediately pay to Bank, in cash, the amount of such excess.


 


2.3
Interest Rates, Payments, and Calculations.


 


(a)
Interest Rate on Advances. Except as set forth in Section 2.3(b), the Advances under the Revolving Facility shall bear
interest, on the outstanding Daily Balance thereof, at a floating rate equal to one percent (1.0%) above the Prime Rate.


 


(b)
Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall
pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount
permitted to be charged under applicable law, not in any case to be less than $25.00. All Obligations shall bear interest, from
and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above
the interest rate applicable immediately prior to the occurrence of the Event of Default.


 


(c)
Payments. Interest hereunder shall be due and payable on the tenth (10th) calendar day of each month during
the term hereof. Bank shall, at its option, charge such interest, all Bank Expenses, and all Periodic Payments against any of
Borrower’s deposit accounts or against the Revolving Line, in which case those amounts shall thereafter accrue interest
at the rate then applicable hereunder. Any interest not paid when due shall be compounded by becoming a part of the Obligations,
and such interest shall thereafter accrue interest at the rate then applicable hereunder. All payments shall be free and clear
of any taxes, withholdings, duties, impositions or other charges, to the end that Bank will receive the entire amount of any Obligations
payable hereunder, regardless of source of payment.


 


(d)
Computation. In the event the Prime Rate is changed from time to time hereafter, the applicable rate of interest hereunder
shall be increased or decreased, effective as of the day the Prime Rate is changed, by an amount equal to such change in the Prime
Rate. All interest chargeable under the Loan Documents shall be computed on the basis of a three hundred sixty (360) day year
for the actual number of days elapsed.


 


2.4
Crediting Payments.


 


(a)
Prior to the occurrence of an Event of Default, Bank shall credit a wire transfer of funds, check or other item of payment to
such deposit account or Obligation as Borrower specifies. After the occurrence of an Event of Default, the receipt by Bank of
any wire transfer of funds, check, or other item of payment shall be immediately applied to conditionally reduce Obligations,
but shall not be considered a payment on account unless such payment is of immediately available federal funds or unless and until
such check or other item of payment is honored when presented for payment. Notwithstanding anything to the contrary contained
herein, any wire transfer or payment received by Bank after 12:00 noon Pacific time shall be deemed to have been received by Bank
as of the opening of business on the immediately following Business Day. Whenever any payment to Bank under the Loan Documents
would otherwise be due (except by reason of acceleration) on a date that is not a Business Day, such payment shall instead be
due on the next Business Day, and additional fees or interest, as the case may be, shall accrue and be payable for the period
of such extension.


 




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(b)
Borrower hereby authorizes Bank to automatically deduct from any deposit account(s) of Borrower with Bank, including without limitation
deposit account numbered 8713994761, the amount of any loan payment. If the funds in the account(s) are insufficient to cover
any payment, Bank shall not be obligated to advance funds to cover the payment and Borrower agrees to pay any applicable fees
for this service disclosed in the Schedule of Fees and Charges applicable to Borrower’s account(s). Subject to any terms
and conditions in the Loan Documents, Borrower or Bank may voluntarily terminate automatic payments at any time for any reason.


 


2.5
Fees. Borrower shall pay to Bank the following:


 


(a)
Facility Fee. On the Closing Date and on each anniversary thereof, $7,500 in respect of the Revolving Line, each of which
shall be deemed fully earned as of the Closing Date and each anniversary thereof;


 


(b)
Bank Expenses. On the Closing Date, all Bank Expenses incurred through the Closing Date, including reasonable attorneys’
fees and expenses and, after the Closing Date, all Bank Expenses, including reasonable attorneys’ fees and expenses, as
and when they are incurred by Bank; and


 


(c)
Fee in Lieu of Warrant. A cash fee in lieu of issuing the Warrant equal to $15,000 (the “Fee in Lieu of Warrant”),
which shall fully earned, due and payable as of the Closing Date.


 


2.6
Term. This Agreement shall become effective on the Closing Date and, subject to Section 13.7, shall continue in full force
and effect for so long as any Obligations remain outstanding or Bank has any obligation to make Credit Extensions under this Agreement.
Notwithstanding the foregoing, Bank shall have the right to terminate its obligation to make Credit Extensions under this Agreement
immediately and without notice upon the occurrence and during the continuance of an Event of Default or, if Bank does not deem
the updated Financial Plan delivered pursuant to Section 6.8(h) of this Agreement acceptable to Bank in its sole discretion or
if Borrower fails to deliver such plan. Notwithstanding termination, Bank’s Lien on the Collateral shall remain in effect
for so long as any Obligations are outstanding.


 


3.
Conditions of Loans.


 


3.1
Conditions Precedent to Initial Credit Extension. The obligation of Bank to make the initial Credit Extension is subject to
the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following, duly executed
by the applicable parties thereto:


 


(a)
this Agreement;


 


(b)
a certificate of the Secretary of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of
this Agreement;


 


(c)
payment of the Fee in Lieu of Warrant;


 


(d)
evidence, in form and substance acceptable to Bank, that Borrower has received no less than Four Million Dollars ($4,000,000)
of proceeds from an equity investment in Borrower.


 


(e)
payment of the fees and Bank Expenses then due specified in Section 2.5 hereof;


 


(f)
current financial statements of Borrower;


 




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(g)
an audit of the Collateral, the results of which shall be satisfactory to Bank;


 


(h)
certified copies, dated as of a recent date, of financing statement searches, as Bank may request, accompanied by written evidence
(including any UCC termination statements) that the Liens indicated in any such financing statements either constitute Permitted
Liens or have been or, in connection with the initial Credit Extension, will be terminated or released; and


 


(i)
such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.


 


3.2
Conditions Precedent to All Credit Extensions. The obligation of Bank to make each Credit Extension, including the initial
Credit Extension, is further subject to the following conditions:


 


(a)
timely receipt by Bank of the Revolving Advance Request Form, as provided in Section 2.1;


 


(b)
the absence of any circumstance or circumstances that could have a Material Adverse Effect; and


 


(c)
the representations and warranties contained in Section 5 shall be true and correct in all material respects on and as of the
date of such Revolving Advance Request Form and on the effective date of each Credit Extension as though made at and as of each
such date, and no Event of Default shall have occurred and be continuing, or would exist after giving effect to such Credit Extension.
The making of each Credit Extension shall be deemed to be a representation and warranty by Borrower on the date of such Credit
Extension as to the accuracy of the facts referred to in this Section 3.2.


 


3.3
Covenant to Deliver. Borrower agrees to deliver to Bank each item required to be delivered to Bank under this Agreement as
a condition precedent to any Credit Extension. Borrower expressly agrees that a Credit Extension made prior to the receipt by
Bank of any such item shall not constitute a waiver by Bank of Borrower’s obligation to deliver such item, and the making
of any Credit Extension in the absence of a required item shall be in Bank’s sole discretion.


 


4.
Creation of Security Interest.


 


4.1
Grant of Security Interest. Borrower grants and pledges to Bank a continuing security interest in all presently existing and
hereafter acquired or arising Collateral in order to secure prompt repayment of any and all Obligations and in order to secure
prompt performance by Borrower of each of its covenants and duties under the Loan Documents. Except as set forth in the Schedule,
such security interest constitutes a valid, first priority security interest in the presently existing Collateral, and will constitute
a valid, first priority security interest in Collateral acquired after the date hereof.


 


4.2
Intentionally Omitted. Delivery of Additional Documentation Required. Borrower shall from time to time execute and
deliver to Bank, at the request of Bank, all Negotiable Collateral, all financing statements and other documents that Bank may
reasonably request, in form satisfactory to Bank, to perfect and continue the perfection of Bank’s security interests in
the Collateral and in order to fully consummate all of the transactions contemplated under the Loan Documents. Borrower from time
to time may deposit with Bank specific time deposit accounts to secure specific Obligations. Borrower authorizes Bank to hold
such balances in pledge and to decline to honor any drafts thereon or any request by Borrower or any other Person to pay or otherwise
transfer any part of such balances for so long as the Obligations are outstanding.


 


4.3
Authorization to File Financing Statements. Borrower hereby authorizes Bank to file financing statements, without notice to
Borrower, with all appropriate jurisdictions to perfect or protect Bank’s interest or rights hereunder, including a notice
that any disposition of the Collateral, by either Borrower or any other Person, shall be deemed to violate the rights of Bank
under the Code.


 




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4.4
Right to Inspect. Bank (through any of its officers, employees, or agents) shall have the right, upon reasonable prior notice,
from time to time during Borrower’s usual business hours but no more than once a year (unless an Event of Default has occurred
and is continuing), to inspect Borrower’s Books and to make copies thereof and to check, test, and appraise the Collateral
in order to verify Borrower’s financial condition or the amount, condition of, or any other matter relating to, the Collateral.


 


5.
Representations and Warranties.


 


Borrower
represents and warrants as follows:


 


5.1
Due Organization and Qualification. Borrower and each Subsidiary is a corporation duly existing and in good standing under
the laws of its jurisdiction of organization and qualified and licensed to do business in any other jurisdiction in which the
conduct of its business or its ownership of property requires that it be so qualified and where the failure to be so qualified
would reasonably be expected to have a Material Adverse Effect.


 


5.2
Due Authorization; No Conflict. The execution, delivery, and performance of the Loan Documents are within Borrower’s
powers, have been duly authorized, and are not in conflict with nor constitute a breach of any provision contained in Borrower’s
Certificate of Incorporation or Bylaws, nor will they constitute an event of default under any material agreement to which Borrower
is a party or by which Borrower is bound, nor will they contravene, conflict with or violate any applicable order, writ, judgment,
injunction, decree, determination or award of any Governmental Authority by which Borrower or any of Borrower’s property
or assets may be bound or affected. Borrower is not in default under any material agreement to which it is a party or by which
it is bound.


 


5.3
No Prior Encumbrances. Borrower has good and marketable title to its property, free and clear of Liens, except for Permitted
Liens.


 


5.4
Bona Fide Eligible Recurring Revenue Contracts. The Eligible Recurring Revenue Contracts are bona fide existing Contracts.
Borrower has not received notice of an actual or imminent Insolvency Proceeding commenced by or against any customer of Borrower
whose Contracts are included in any Borrowing Base Certificate as an Eligible Recurring Revenue Contract.


 


5.5
Merchantable Inventory. All Inventory is in all material respects of good and marketable quality, free from all material defects,
except for Inventory for which adequate reserves have been made.


 


5.6
Collateral and Intellectual Property Collateral. Borrower is the sole owner or licensee of the Intellectual Property Collateral,
except (i) as stated herein or in the schedule, (ii) commercially available software using in the ordinary course of business
and (iii) for non-exclusive licenses granted by Borrower to its customers in the ordinary course of business. Except as would
not reasonably be expected to have a Material Adverse Effect, each of the Patents is valid and enforceable, and no part of the
Intellectual Property Collateral has been judged invalid or unenforceable, in whole or in part, and no claim has been made that
any part of the Intellectual Property Collateral violates the rights of any third party. Except as set forth in the Schedule,
Borrower’s rights as a licensee of intellectual property do not give rise to more than five percent (5%) of its gross revenue
in any given month, including without limitation revenue derived from the sale, licensing, rendering or disposition of any product
or service. Except as set forth in the Schedule, Borrower is not a party to, or bound by, any agreement that restricts the grant
by Borrower of a security interest in Borrower’s rights under such agreement.


 


5.7
Name; Location of Chief Executive Office. Except as disclosed in the Schedule, Borrower has not done business under any name
other than that specified on the signature page hereof. The chief executive office of Borrower is located at the address indicated
in Section 10 hereof. All Borrower’s Inventory and Equipment is located only at the location set forth in Section 10 hereof.


 


5.8
Litigation. Except as set forth in the Schedule, there are no actions or proceedings pending by or against Borrower or any
Subsidiary before any court or administrative agency in which there is a reasonable probability of an adverse decision that could
have a Material Adverse Effect.


 




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5.9
No Material Adverse Change in Financial Statements. All consolidated and consolidating financial statements related to Borrower
and any Subsidiary that Bank has received from Borrower fairly present in all material respects Borrower’s financial condition
as of the date thereof and Borrower’s consolidated and consolidating results of operations for the period then ended. There
has not been a material adverse change in the consolidated or the consolidating financial condition of Borrower since the date
of the most recent of such financial statements submitted to Bank.


 


5.10
Solvency, Payment of Debts. Borrower is solvent and able to pay its debts (including trade debts) as they mature.


 


5.11
Regulatory Compliance. Borrower and each Subsidiary have met the minimum funding requirements of ERISA with respect to any
employee benefit plans subject to ERISA, and no event has occurred resulting from Borrower’s failure to comply with ERISA
that could result in Borrower’s incurring any material liability. Borrower is not an “investment company” or
a company “controlled” by an “investment company” within the meaning of the Investment Company Act of
1940. Borrower is not engaged principally, or as one of the important activities, in the business of extending credit for the
purpose of purchasing or carrying margin stock (within the meaning of Regulations T and U of the Board of Governors of the Federal
Reserve System). Borrower has complied with all the provisions of the Federal Fair Labor Standards Act. Borrower has not violated
any statutes, laws, ordinances or rules applicable to it, violation of which could reasonably be expected to have a Material Adverse
Effect. Neither Borrower nor any of its Subsidiaries is in violation in any material respect of any applicable requirement of
law relating to terrorism or money laundering, including Executive Order No. 13224, effective September 24, 2001, The Currency
and Foreign Transactions Reporting Act (also known as the “Bank Secrecy Act,” 31 U.S.C. §§ 5311 5330), the
Trading With the Enemy Act (50 U.S.C. §§1-44, as amended), the Uniting and Strengthening America by Providing Appropriate
Tools Required to Intercept and Obstruct Terrorism Act of 2001, Public Law 107 56, signed into law October 26, 2001, the Criminal
Justice (Money Laundering and Terrorist Financing) Act 2010 as amended and the Criminal Justice (Terrorist Offences) Act 2005.


 


5.12
Environmental Condition. Except as disclosed in the Schedule, none of Borrower’s or any Subsidiary’s properties
or assets has ever been used by Borrower or any Subsidiary or, to the best of Borrower’s knowledge, by previous owners or
operators, in the disposal of, or to produce, store, handle, treat, release, or transport, any hazardous waste or hazardous substance
other than in accordance with applicable law; to the best of Borrower’s knowledge, none of Borrower’s properties or
assets has ever been designated or identified in any manner pursuant to any environmental protection statute as a hazardous waste
or hazardous substance disposal site, or a candidate for closure pursuant to any environmental protection statute; no lien arising
under any environmental protection statute has attached to any revenues or to any real or personal property owned by Borrower
or any Subsidiary; and neither Borrower nor any Subsidiary has received a summons, citation, notice, or directive from the Environmental
Protection Agency or any other federal, state or other governmental agency concerning any action or omission by Borrower or any
Subsidiary resulting in the releasing, or otherwise disposing of hazardous waste or hazardous substances into the environment.


 


5.13
Taxes. Borrower and each Subsidiary have filed or caused to be filed all tax returns required to be filed, and have paid,
or have made adequate provision for the payment of, all taxes reflected therein.


 


5.14
Subsidiaries. Borrower does not own any stock, partnership interest or other equity securities of any Person, except for Permitted
Investments.


 


5.15
Government Consents. Borrower and each Subsidiary have obtained all material consents, approvals and authorizations of, made
all declarations or filings with, and given all notices to, all Governmental Authorities that are necessary for the continued
operation of Borrower’s business as currently conducted.


 


5.16
Accounts. Except as permitted by Section 6.8, none of Borrower’s nor any Subsidiary’s property is maintained or
invested with a Person other than Bank.


 


5.17
Intentionally Omitted.


 




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5.18
Full Disclosure. All factual information taken as a whole (other than forward-looking information and projections and information
of a general economic nature and general information about Borrowers industry) furnished by or on behalf of Borrowers to Bank
in connection with this Agreement, will be, true and accurate, in all material respects, on the date as of which such information
is dated or certified and not incomplete by omitting to state any fact necessary to make such information (taken as a whole) not
misleading in any material respect at such time in light of the circumstances under which such information was provided.


 


6.
Affirmative Covenants.


 


Borrower
shall do all of the following:


 


6.1
Good Standing. Borrower shall maintain its and each of its Subsidiaries’ corporate existence and good standing in its
jurisdiction of organization and maintain qualification in each jurisdiction in which it is required under applicable law and
where the failure to be so qualified would not reasonably be expected to have a Material Adverse Effect. Borrower shall maintain,
and shall cause each of its Subsidiaries to maintain, in force all licenses, approvals and agreements, the loss of which could
reasonably be expected to have a Material Adverse Effect.


 


6.2
Government Compliance. Borrower shall meet, and shall cause each Subsidiary to meet, the minimum funding requirements of ERISA
with respect to any employee benefit plans subject to ERISA. Borrower shall comply, and shall cause each Subsidiary to comply,
with all statutes, laws, ordinances and government rules and regulations to which it is subject, noncompliance with which could
reasonably be expected to have a Material Adverse Effect.


 


6.3
Financial Statements, Reports, Certificates. Borrower shall deliver the following to Bank:


 


(a)
as soon as available, but in any event within thirty (30) days after the end of each calendar month, (i) a company prepared consolidated
balance sheet, income statement, and cash flow statement covering Borrower’s consolidated operations during such period,
prepared in accordance with GAAP, consistently applied, in a form acceptable to Bank and certified by a Responsible Officer and
(ii) a Compliance Certificate;


 


(b)
except to the extent the same are sooner included in a Form 10-K Annual Report filed by Borrower with the Securities and Exchange
Commission, within one hundred eighty (180) days after the end of Borrower’s fiscal year, audited consolidated and consolidating
(if applicable) financial statements of Borrower prepared in accordance with GAAP, consistently applied, together with an unqualified
opinion on such financial statements of an independent certified public accounting firm reasonably acceptable to Bank;


 


(c)
copies of all statements, reports and notices sent or made available generally by Borrower to its security holders or to any holders
of Subordinated Debt and, if applicable, copies of the Form 10-K Annual Report, Form 10-Q Quarterly Report and Form 8-K Current
Report for Borrower concurrent with the date of filing with the Securities and Exchange Commission;


 


(d)
promptly upon receipt of notice thereof, a report of any legal actions pending or threatened against Borrower or any Subsidiary
that could result in damages or costs to Borrower or any Subsidiary of One Hundred Thousand Dollars ($100,000) or more;


 


(e)
such budgets, sales projections, operating plans or other financial information as Bank may reasonably request from time to time;


 


(f)
within thirty (30) days after the last day of each month, Borrower shall deliver to Bank (i) a Borrowing Base Certificate signed
by a Responsible Officer in substantially the form of Exhibit C hereto, prepared as of such month end, (ii) a detailed
aging of Borrower’s Accounts by invoice date, together with payable aging by invoice date, together with such other matters
as Bank may request, (iii) a deferred revenue schedule and (iv) a monthly recurring revenue report;


 




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(g)
as soon as available, but in any event no later than the earlier to occur of thirty (30) days following the beginning of each
fiscal year, an annual operating budget and financial projections (including income statements, balance sheets and cash flow statements)
for such fiscal year, presented in a monthly format, approved by Borrower’s board of directors, and in a form and substance
reasonably acceptable to Bank (each, a “Financial Plan”)


 


(h)
promptly, upon sending or receipt, copies of any management letters and correspondence relating to management letters, sent or
received by Borrower to or from Borrower’s auditor. If no management letter is prepared, Borrower shall, upon Bank’s
request, obtain a letter from such auditor stating that no deficiencies were noted that would otherwise be addressed in a management
letter;


 


(i)
promptly upon Bank’s request, such other books, records, statements, lists of property and accounts, budgets, forecasts
or reports as to Borrower and as to each Guarantor of Borrower’s obligations to Bank as Bank may request.


 


6.4
Audits. Bank shall have a right from time to time hereafter to audit Borrower’s Accounts and appraise Collateral at
Borrower’s expense, provided that such audits will be conducted no more often than every twelve(12) months unless an Event
of Default has occurred and is continuing.


 


6.5
Inventory; Returns. Borrower shall keep all Inventory in good and marketable condition, free from all material defects except
for Inventory for which adequate reserves have been made. Returns and allowances, if any, as between Borrower and its account
debtors shall be on the same basis and in accordance with the usual customary practices of Borrower, as they exist at the time
of the execution and delivery of this Agreement. Borrower shall promptly notify Bank of all returns and recoveries and of all
disputes and claims, where the return, recovery, dispute or claim involves more than Fifty Thousand Dollars ($50,000).


 


6.6
Taxes. Borrower shall make, and shall cause each Subsidiary to make, due and timely payment or deposit of all material federal,
state, and local taxes, assessments, or contributions required of it by law, and will execute and deliver to Bank, on demand,
appropriate certificates attesting to the payment or deposit thereof; and Borrower will make, and will cause each Subsidiary to
make, timely payment or deposit of all material tax payments and withholding taxes required of it by applicable laws, including,
but not limited to, those laws concerning F.I.C.A., F.U.T.A., state disability, and local, state, and federal income taxes, and
will, upon request, furnish Bank with proof satisfactory to Bank indicating that Borrower or a Subsidiary has made such payments
or deposits; provided that Borrower or a Subsidiary need not make any payment if the amount or validity of such payment is contested
in good faith by appropriate proceedings and is reserved against (to the extent required by GAAP) by Borrower.


 


6.7
Insurance.


 


(a)
Borrower, at its expense, shall keep the Collateral insured against loss or damage by fire, theft, explosion, sprinklers, and
all other hazards and risks, and in such amounts, as ordinarily insured against by other owners in similar businesses conducted
in the locations where Borrower’s business is conducted on the date hereof. Borrower shall also maintain insurance relating
to Borrower’s business, ownership and use of the Collateral in amounts and of a type that are customary to businesses similar
to Borrower’s.


 


(b)
All such policies of insurance shall be in such form, with such companies, and in such amounts as are reasonably satisfactory
to Bank. All such policies of property insurance shall contain a lender’s loss payable endorsement, in a form satisfactory
to Bank, showing Bank as an lender loss payee thereof, and all liability insurance policies shall show Bank as an additional insured
and shall specify that the insurer must give at least twenty (20) days notice (or, ten (10) days in the case of non-payment of
premium) to Bank before canceling its policy for any reason. Upon Bank’s request, Borrower shall deliver to Bank certified
copies of such policies of insurance and evidence of the payments of all premiums therefor. All proceeds payable under any such
policy shall, at the option of Bank, be payable to Bank to be applied on account of the Obligations.


 




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6.8
Accounts.


 


(a)
Borrower shall (i) maintain and shall cause each of its Subsidiaries to maintain all of its depository, operating, and investment
accounts with Bank and (ii) endeavor to utilize and shall cause each of its Subsidiaries to endeavor to utilize Bank’s International
Banking Division for any international banking services required by Borrower, including, but not limited to, foreign currency
wires, hedges, swaps, FX contracts, and letters of credit. Any Guarantor shall maintain all depository, operating and securities/investment
accounts with Bank and Bank’s Affiliates.


 


(b)
In addition to and without limiting the restrictions in (a), Borrower shall provide Bank five (5) days prior written notice before
establishing any banking or investment account at or with any bank or financial institution other than Bank or Bank’s Affiliates.
For each banking or investment account that Borrower at any time maintains, Borrower shall cause the applicable bank or financial
institution (other than Bank) at or with which any such account is maintained to execute and deliver a Control Agreement or other
appropriate instrument with respect to such account to perfect Bank’s Lien in such account in accordance with the terms
hereunder which Control Agreement may not be terminated without the prior written consent of Bank. The provisions of the previous
sentence shall not apply to deposit accounts exclusively used for payroll, payroll taxes, and other employee wage and benefit
payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such.


 


6.9
Financial Covenants.


 


(a)
Performance to Plan – Recurring Revenue. Commencing with the month ending March 31, 2021, (i) Borrower’s Recurring
Revenue, measured on a monthly basis as of the last day of each such month for the trailing three (3) month period then ended,
shall not deviate by more than twenty percent (20%) of Borrower’s projected Recurring Revenue as set forth in Borrower’s
Financial Plan for the fiscal year ending January 31, 2022, accepted by Bank hereunder and attached hereto as Schedule 6.9 OR
(ii) Borrower’s Recurring Revenue, measured on a monthly basis as of the last day of each such month for the fiscal year-to-date
period then ending, shall not deviate by more than twenty percent (20%) of Borrower’s projected Recurring Revenue as set
forth in Borrower’s Financial Plan for the fiscal year ending January 31, 2022, accepted by Bank hereunder and attached
hereto as Schedule 6.9. For the avoidance of doubt, Borrower shall be in compliance with this clause (a) for a month if, as of
the last day of such month, Borrower satisfies either of the foregoing clauses (i) or (ii).


 


(b)
Performance to Plan – Adjusted EBITDA. Commencing with the month ending March 31, 2021, Borrower’s Adjusted
EBITDA, measured on a monthly basis as of the last day of each such month for the trailing three (3) month period then ended,
as compared to Borrower’s projected Adjusted EBITDA as set forth Borrower’s Financial Plan for the fiscal year ending
January 31, 2022, accepted by Bank hereunder and attached hereto as Schedule 6.9, shall not deviate by more than the greater of
(i) $300,000 or (ii) 30%.


 


6.10
Intellectual Property Rights.


 


(a)
Borrower, concurrently with the delivery of a Compliance Certificate, shall give Bank written notice of any applications or registrations
of intellectual property rights filed since the date of the immediately preceding Compliance Certificate, with the United States
Patent and Trademark Office, including the date of such filing and the registration or application numbers, if any. Upon filing
any such applications or registrations with the United States Copyright Office, Borrower shall promptly provide Bank with (i)
a copy of such applications or registrations, without the exhibits, if any, thereto, (ii) evidence of the filing of any documents
requested by Bank to be filed for Bank to maintain the perfection and priority of its security interest in such intellectual property
rights, and (iii) the date of such filing.


 


(b)
Bank may audit Borrower’s Intellectual Property Collateral to confirm compliance with this Section, provided such audit
may not occur more often than twice per year, unless an Event of Default has occurred and is continuing. Bank shall have the right,
but not the obligation, to take, at Borrower’s sole expense, any actions that Borrower is required under this Section to
take but which Borrower fails to take, after 15 days’ notice to Borrower. Borrower shall reimburse and indemnify Bank for
all reasonable costs and reasonable expenses incurred in the reasonable exercise of its rights under this Section.


 




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6.11
Use of Proceeds. Borrower shall use the proceeds of the Advances solely as working capital to fund its general business requirements
in accordance with the provisions of this Agreement, and not for personal, family, household or agricultural purposes.


 


6.12
Landlord Waivers; Bailee Waivers. In the event that Borrower or any of its Subsidiaries, after the Closing Date, intends to
add any new offices or business locations, including warehouses, or otherwise store any portion of the tangible Collateral with,
or deliver any portion of the Collateral to, a bailee, in each case pursuant to Section 7.2, then Borrower or such Subsidiary
will first receive the written consent of Bank and, in the event that the Collateral at any new location is valued in excess of
One Hundred Thousand Dollars ($100,000) in the aggregate, such bailee or landlord, as applicable, must execute and deliver a bailee
waiver or landlord waiver, as applicable, in form and substance reasonably satisfactory to Bank prior to the addition of any new
offices or business locations, or any such storage with or delivery to any such bailee, as the case may be.


 


6.13
Formation or Acquisition of Subsidiaries. Notwithstanding and without limiting the negative covenants contained in Sections
7.3 and 7.7 hereof, at the time that Borrower or any Guarantor forms any direct or indirect Subsidiary or acquires any direct
or indirect Subsidiary after the Closing Date having assets in excess of $10,000, Borrower and such Guarantor shall (a) cause
such new Subsidiary to provide to Bank a joinder to this Agreement to become a co-borrower hereunder, or a Guaranty to become
a Guarantor hereunder, at Bank’s discretion, together with such appropriate financing statements and/or Control Agreements,
all in form and substance satisfactory to Bank (including being sufficient to grant Bank a first priority Lien (subject to Permitted
Liens) in and to the assets of such newly formed or acquired Subsidiary), (b) provide to Bank appropriate certificates and powers
and financing statements, pledging all of the direct or beneficial ownership interest in such new Subsidiary, in form and substance
satisfactory to Bank; and (c) provide to Bank all other documentation in form and substance satisfactory to Bank, which in its
opinion is appropriate with respect to the execution and delivery of the applicable documentation referred to above. Any document,
agreement, or instrument executed or issued pursuant to this Section 6.13 shall be a Loan Document.


 


6.14
Intentionally Omitted.


 


6.15
Further Assurances. At any time and from time to time Borrower shall execute and deliver such further instruments and take
such further action as may reasonably be requested by Bank to effect the purposes of this Agreement.


 


7.
Negative Covenants.


 


Borrower
will not do any of the following:


 


7.1
Dispositions. Convey, sell, lease, transfer or otherwise dispose of (collectively, a “Transfer”), or permit any
of its Subsidiaries to Transfer, all or any part of its business or property, other than: (i) Transfers of Inventory in the ordinary
course of business; (ii) Transfers of non-exclusive licenses and similar arrangements for the use of the property of Borrower
or its Subsidiaries in the ordinary course of business; (iii) Transfers of worn-out or obsolete Equipment which was not financed
by Bank; (iv) Transfers consisting of the sale or issuance of any stock of Borrower permitted under Section 7.2 of this Agreement;
(v) Transfers consisting of Borrower’s use or transfer of money or cash equivalents in a manner that is not prohibited by
the terms of this Agreement or the other Loan Documents; (vi) the leasing or subleasing of assets of Borrower or its Subsidiaries
in the ordinary course of business, (vii) transfers among the Borrowers; and (viii) (A) the lapse of registered patents, trademarks,
copyrights and other intellectual property of Borrower and its Subsidiaries to the extent not economically desirable in the conduct
of their business or (B) the abandonment (including, but not limited to, by means of the sale, exclusive license or other disposition
of the source code therefor) of patents, trademarks, copyrights, or other intellectual property rights in the ordinary course
of business so long as (in each case under clauses (A) and (B)), (1) with respect to copyrights, such copyrights are not material
revenue generating copyrights, and (2) such lapse is not materially adverse to the interests of the Bank.


 


7.2
Change in Business; Change in Control or Executive Office. Engage in any business, or permit any of its Subsidiaries to engage
in any business, other than the businesses currently engaged in by Borrower and any business substantially similar or related
thereto (or incidental thereto); or cease to conduct business in the manner conducted by Borrower as of the Closing Date; or suffer
or permit a Change in Control; or without thirty (30) days prior written notification to Bank, relocate its chief executive office
or state of organization or change its legal name; or without Bank’s prior written consent, change the date on which its
fiscal year ends.


 




    	17



     


    

 


7.3
Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with or into any
other business organization, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital
stock, equity securities, or property of another Person.


 


7.4
Indebtedness. Create, incur, assume or be or remain liable with respect to any Indebtedness, or permit any Subsidiary so to
do, other than Permitted Indebtedness.


 


7.5
Encumbrances. Create, incur, assume or suffer to exist any Lien with respect to any of its property (including without limitation,
its Intellectual Property Collateral), or assign or otherwise convey any right to receive income, including the sale of any Accounts,
or permit any of its Subsidiaries to do so, except for Permitted Liens, or agree with any Person other than Bank not to grant
a security interest in, or otherwise encumber, any of its property (including without limitation, its Intellectual Property Collateral),
or permit any Subsidiary to do so.


 


7.6
Distributions. Pay any dividends or make any other distribution or payment on account of or in redemption, retirement or purchase
of any capital stock, or permit any of its Subsidiaries to do so, except that (a) Borrower may repurchase the stock of former
employees pursuant to stock repurchase agreements in an aggregate amount not to exceed Two Hundred Fifty Thousand Dollars ($250,000)
during any twelve (12) month period, as long as an Event of Default does not exist prior to such repurchase or would not exist
after giving effect to such repurchase, (b) Streamline Health may pay dividends or make distributions to Streamline; and (c) the
Borrower may make redemptions consisting of the non-cash repurchase of Equity Interests deemed to occur upon the exercise of stock
options, warrants or similar rights to the extent such Equity Interests represent a portion of the exercise price for those stock
options, warrants or similar rights or the cash payment of related withholding taxes.


 


7.7
Investments. Directly or indirectly acquire or own, or make any Investment in or to any Person, or permit any of its Subsidiaries
so to do, other than Permitted Investments; or suffer or permit any Subsidiary to be a party to, or be bound by, an agreement
that restricts such Subsidiary from paying dividends or otherwise distributing property to Borrower.


 


7.8
Transactions with Affiliates. Directly or indirectly enter into or permit to exist any material transaction with any Affiliate
of Borrower; provided, that Borrower may directly or indirectly enter into or permit to exist any material transaction with any
Affiliate of Borrower that is (a) upon fair and reasonable terms that are no less favorable to Borrower than would be obtained
in an arm’s length transaction with a non-affiliated Person, (b) a transaction among the Borrowers, (c) so long as it has
been approved by such Borrower’s or its applicable Subsidiary’s board of directors (or comparable governing body)
in accordance with applicable law, an indemnity provided for the benefit of directors (or comparable managers) of Borrower or
its applicable Subsidiary, or (d) so long as it has been approved by the applicable Borrower’s board of directors (or comparable
governing body) in accordance with applicable law, a payment of reasonable compensation, severance, or employee benefit arrangements
to employees, officers, and outside directors of Borrowers and their Subsidiaries in the ordinary course of business and consistent
with industry practice.


 


7.9
Subordinated Debt. Make any payment in respect of any Subordinated Debt, or permit any of its Subsidiaries to make any such
payment, except in compliance with the terms of such Subordinated Debt, or amend any provision contained in any documentation
relating to the Subordinated Debt without Bank’s prior written consent. For the abundance of caution, in no event shall
Borrower make any payment under any Subordinated Debt if an Event of Default has occurred and is continuing or would occur as
a result of such payment.


 


7.10
Inventory and Equipment. Store Inventory or Equipment with an aggregate value greater than $50,000 with a bailee, warehouseman,
or other third party unless the third party has been notified of Bank’s security interest and Borrower has used commercially
reasonable efforts to provide Bank with either (a) an acknowledgment from the third party that it is holding or will hold the
Inventory or Equipment for Bank’s benefit or (b) a warehouse receipt, where negotiable, covering such Inventory or Equipment.
Store or maintain any Equipment or Inventory at a location other than the location set forth in Section 10 of this Agreement.


 




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7.11
Compliance. Become an “investment company” or be controlled by an “investment company,” within the
meaning of the Investment Company Act of 1940, or become principally engaged in, or undertake as one of its important activities,
the business of extending credit for the purpose of purchasing or carrying margin stock, or use the proceeds of any Credit Extension
for such purpose. Fail to meet the minimum funding requirements of ERISA, permit a Reportable Event or Prohibited Transaction,
as defined in ERISA, to occur, fail to comply with the Federal Fair Labor Standards Act or violate any law or regulation, which
violation could reasonably be expected to have a Material Adverse Effect, or permit any of its Subsidiaries to do any of the foregoing.


 


7.12
Capital Expenditures. Make or contract to make, without Bank’s prior written consent, capital expenditures, including
leasehold improvements, in any fiscal year in excess of Two Hundred Fifty Thousand Dollars ($250,000).


 


8.
Events of Default.


 


Any
one or more of the following events shall constitute an Event of Default by Borrower under this Agreement:


 


8.1
Payment Default. If Borrower fails to pay, when due, any of the Obligations;


 


8.2
Covenant Default.


 


(a)
If Borrower fails to perform any obligation under Section 3.3, Article 6 or violates any of the covenants contained in Article
7 of this Agreement; or


 


(b)
If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this
Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default
under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days
after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default
cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Borrower be cured within such
ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable
period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time
period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made.


 


8.3
Material Adverse Effect. If there occurs any circumstance or circumstances that could have a Material Adverse Effect;


 


8.4
Attachment. If any portion of Borrower’s assets in excess of Two Hundred Fifty Thousand ($250,000), individually or
in the aggregate, is attached, seized, subjected to a writ or distress warrant, or is levied upon, or comes into the possession
of any trustee, receiver or person acting in a similar capacity and such attachment, seizure, writ or distress warrant or levy
has not been removed, discharged or rescinded within ten (10) days, or if Borrower is enjoined, restrained, or in any way prevented
by court order from continuing to conduct all or any material part of its business affairs, or if any other claim becomes a lien
or encumbrance upon any material portion of Borrower’s assets, or if a notice of lien, levy, or assessment is filed of record
with respect to any of Borrower’s assets by the United States Government, or any department, agency, or instrumentality
thereof, or by any state, county, municipal, or governmental agency, and the same is not paid within ten (10) days after Borrower
receives notice thereof, provided that none of the foregoing shall constitute an Event of Default where such action or event is
stayed or an adequate bond has been posted pending a good faith contest by Borrower (provided that no Credit Extensions will be
required to be made during such cure period);


 




    	19



     


    

 


8.5
Insolvency. If Borrower becomes insolvent, or if an Insolvency Proceeding is commenced by Borrower, or if an Insolvency Proceeding
is commenced against Borrower and is not dismissed or stayed within thirty (30) days (provided that no Credit Extensions will
be made prior to the dismissal of such Insolvency Proceeding);


 


8.6
Other Agreements. If there is a default or other failure to perform in any agreement to which Borrower or any Guarantor is
a party or by which it is bound resulting in a right by a third party or parties, whether or not exercised, to accelerate the
maturity of any Indebtedness in an amount in excess of Two Hundred Fifty Thousand ($250,000)or which could reasonably be expected
to have a Material Adverse Effect.


 


8.7
Judgments. If a judgment or judgments for the payment of money in an amount, individually or in the aggregate, of at least
Two Hundred Fifty Thousand ($250,000) shall be rendered against Borrower and shall remain unsatisfied and unstayed for a period
of ten (10) days (provided that no Credit Extensions will be made prior to the satisfaction or stay of such judgment); or


 


8.8
Misrepresentations. If any material misrepresentation or material misstatement exists now or hereafter in any warranty or
representation set forth herein or in any certificate delivered to Bank by any Responsible Officer pursuant to this Agreement
or to induce Bank to enter into this Agreement or any other Loan Document.


 


8.9
Subordinated Debt. Any document, instrument, or agreement evidencing the subordination of any Subordinated Debt shall for
any reason be revoked or invalidated or otherwise cease to be in full force and effect, any Person shall be in breach thereof
or contest in any manner the validity or enforceability thereof or deny that it has any further liability or obligation thereunder,
or the Obligations shall for any reason be subordinated or shall not have the priority contemplated by this Agreement or any applicable
subordination or intercreditor agreement;


 


8.10
Guaranty. If any guaranty of all or a portion of the Obligations (a “Guaranty”) ceases for any reason to be in
full force and effect, or any guarantor fails to perform any obligation under any Guaranty or a security agreement securing any
Guaranty (collectively, the “Guaranty Documents”), or any event of default occurs under any Guaranty Document or any
guarantor revokes or purports to revoke a Guaranty, or any material misrepresentation or material misstatement exists now or hereafter
in any warranty or representation set forth in any Guaranty Document or in any certificate delivered to Bank in connection with
any Guaranty Document, or if any of the circumstances described in Sections 8.3 through 8.9 occur with respect to any guarantor
or any guarantor dies or becomes subject to any criminal prosecution, or any circumstances arise causing Bank, in good faith,
to become insecure as to the satisfaction of any of any guarantor’s obligations under the Guaranty Documents.


 


9.
Bank’s Rights and Remedies.


 


9.1
Rights and Remedies. Upon the occurrence and during the continuance of an Event of Default, Bank may, at its election, without
notice of its election and without demand, do any one or more of the following, all of which are authorized by Borrower:


 


(a)
Declare all Obligations, whether evidenced by this Agreement, by any of the other Loan Documents, or otherwise, immediately due
and payable (provided that upon the occurrence of an Event of Default described in Section 8.5, all Obligations shall become immediately
due and payable without any action by Bank);


 


(b)
Cease advancing money or extending credit to or for the benefit of Borrower under this Agreement or under any other agreement
between Borrower and Bank;


 


(c)
Settle or adjust disputes and claims directly with account debtors for amounts, upon terms and in whatever order that Bank reasonably
considers advisable;


 




    	20



     


    

 


(d)
Make such payments and do such acts as Bank considers necessary or reasonable to protect its security interest in the Collateral.
Borrower agrees to assemble the Collateral if Bank so requires, and to make the Collateral available to Bank as Bank may designate.
Borrower authorizes Bank to enter the premises where the Collateral is located, to take and maintain possession of the Collateral,
or any part of it, and to pay, purchase, contest, or compromise any encumbrance, charge, or lien which in Bank’s determination
appears to be prior or superior to its security interest and to pay all expenses incurred in connection therewith. With respect
to any of Borrower’s owned premises, Borrower hereby grants Bank a license to enter into possession of such premises and
to occupy the same, without charge, in order to exercise any of Bank’s rights or remedies provided herein, at law, in equity,
or otherwise;


 


(e)
Set off and apply to the Obligations any and all (i) balances and deposits of Borrower held by Bank, or (ii) indebtedness at any
time owing to or for the credit or the account of Borrower held by Bank;


 


(f)
Ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell (in the manner provided
for herein) the Collateral. Bank is hereby granted a license or other right, solely pursuant to the provisions of this Section
9.1, to use, without charge, Borrower’s labels, patents, copyrights, rights of use of any name, trade secrets, trade names,
trademarks, service marks, and advertising matter, or any property of a similar nature, as it pertains to the Collateral, in completing
production of, advertising for sale, and selling any Collateral and, in connection with Bank’s exercise of its rights under
this Section 9.1, Borrower’s rights under all licenses and all franchise agreements shall inure to Bank’s benefit;


 


(g)
Dispose of the Collateral by way of one or more contracts or transactions, for cash or on terms, in such manner and at such places
(including Borrower’s premises) as Bank determines is commercially reasonable, and apply any proceeds to the Obligations
in whatever manner or order Bank deems appropriate;


 


(h)
Bank may credit bid and purchase at any public sale; and


 


(i)
Any deficiency that exists after disposition of the Collateral as provided above will be paid immediately by Borrower.


 


9.2
Power of Attorney. Effective only upon the occurrence and during the continuance of an Event of Default, Borrower hereby irrevocably
appoints Bank (and any of Bank’s designated officers, or employees) as Borrower’s true and lawful attorney to: (a)
send requests for verification of Accounts or notify account debtors of Bank’s security interest in the Accounts; (b) endorse
Borrower’s name on any checks or other forms of payment or security that may come into Bank’s possession; (c) sign
Borrower’s name on any invoice or bill of lading relating to any Account, drafts against account debtors, schedules and
assignments of Accounts, verifications of Accounts, and notices to account debtors; (d) dispose of any Collateral; (e) make, settle,
and adjust all claims under and decisions with respect to Borrower’s policies of insurance; (f) settle and adjust disputes
and claims respecting the accounts directly with account debtors, for amounts and upon terms which Bank determines to be reasonable;
and (g) to file, in its sole discretion, one or more financing or continuation statements and amendments thereto, relative to
any of the Collateral. The appointment of Bank as Borrower’s attorney in fact, and each and every one of Bank’s rights
and powers, being coupled with an interest, is irrevocable until all of the Obligations have been fully repaid and performed and
Bank’s obligation to provide Credit Extensions hereunder is terminated.


 


9.3
Accounts Collection. At any time after the occurrence of an Event of Default and during the continuation thereof, Bank may
notify any Person owing funds to Borrower of Bank’s security interest in such funds and verify the amount of such Account.
Borrower shall collect all amounts owing to Borrower for Bank, receive in trust all payments as Bank’s trustee, and immediately
deliver such payments to Bank in their original form as received from the account debtor, with proper endorsements for deposit.


 




    	21



     


    

 


9.4
Bank Expenses. If Borrower fails to pay any amounts or furnish any required proof of payment due to third persons or entities,
as required under the terms of this Agreement, then Bank may do any or all of the following after reasonable notice to Borrower:
(a) make payment of the same or any part thereof; (b) set up such reserves under a loan facility in Section 2.1 as Bank deems
necessary to protect Bank from the exposure created by such failure; or (c) obtain and maintain insurance policies of the type
discussed in Section 6.6 of this Agreement, and take any action with respect to such policies as Bank deems prudent. Any amounts
so paid or deposited by Bank shall constitute Bank Expenses, shall be immediately due and payable, and shall bear interest at
the then applicable rate hereinabove provided, and shall be secured by the Collateral. Any payments made by Bank shall not constitute
an agreement by Bank to make similar payments in the future or a waiver by Bank of any Event of Default under this Agreement.


 


9.5
Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices, Bank shall not in any way
or manner be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage thereto occurring or arising
in any manner or fashion from any cause; (c) any diminution in the value thereof; or (d) any act or default of any carrier, warehouseman,
bailee, forwarding agency, or other person whomsoever. All risk of loss, damage or destruction of the Collateral shall be borne
by Borrower.


 


9.6
Remedies Cumulative. Bank’s rights and remedies under this Agreement, the Loan Documents, and all other agreements shall
be cumulative. Bank shall have all other rights and remedies not inconsistent herewith as provided under the Code, by law, or
in equity. No exercise by Bank of one right or remedy shall be deemed an election, and no waiver by Bank of any Event of Default
on Borrower’s part shall be deemed a continuing waiver. No delay by Bank shall constitute a waiver, election, or acquiescence
by it. No waiver by Bank shall be effective unless made in a written document signed on behalf of Bank and then shall be effective
only in the specific instance and for the specific purpose for which it was given.


 


9.7
Demand; Protest. Borrower waives demand, protest, notice of protest, notice of default or dishonor, notice of payment and
nonpayment, notice of any default, nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts,
documents, instruments, chattel paper, and guarantees at any time held by Bank on which Borrower may in any way be liable.


 


10.
Notices.


 


All
notices, consents, requests, approvals, demands, or other communication by any party to this Agreement or any other Loan Document
must be in writing and shall be deemed to have been validly served, given, or delivered: (a) upon the earlier of actual receipt
and three (3) Business Days after deposit in the U.S. mail, first class, registered or certified mail return receipt requested,
with proper postage prepaid; (b) upon transmission, when sent by electronic mail; (c) one (1) Business Day after deposit with
a reputable overnight courier with all charges prepaid; or (d) when delivered, if hand-delivered by messenger, all of which shall
be addressed to the party to be notified and sent to the address, or email address indicated below. Bank or Borrower may change
its mailing or electronic mail address by giving the other party written notice thereof in accordance with the terms of this Section
10.


 


	 	If
    to Borrower:	Streamline
    Health Solutions, Inc.
	 	 	11800
    Amberpark Dr, Ste 125
	 	 	Alpharetta,
    GA 30009
	 	 	Attn:
    Chief Financial Officer
	 	 	Email:
    thomas.gibson@streamlinehealth.net
	 	 	 
	 	If
    to Bank:	Bridge
    Bank, a division of Western Alliance Bank
	 	 	55
    Almaden Boulevard, Suite 100
	 	 	San
    Jose, CA 95113
	 	 	Attn:
    Note Department
	 	 	Fax:
    (408) 282-1681
	 	 	Email:
    notedepartment@bridgebank.com
	 	 	 
	 	 	and
	 	 	 
	 	 	Bridge
    Bank, a division of Western Alliance Bank
	 	 	Six
    Concourse Parkway, Suite 2130
	 	 	Atlanta,
    GA 30328
	 	 	Attn:
    Steven Slaughter
	 	 	Email:
    Steven.Slaughter@bridgebank.com


 


The
parties hereto may change the address at which they are to receive notices hereunder, by notice in writing in the foregoing manner
given to the other.


 




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11.
CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER.


 


This
Agreement shall be governed by, and construed in accordance with, the internal laws of the State of California, without regard
to principles of conflicts of law. Each of Borrower and Bank hereby submits to the exclusive jurisdiction of the state and Federal
courts located in the County of Santa Clara, State of California. BORROWER AND BANK EACH HEREBY WAIVE THEIR RESPECTIVE RIGHTS
TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF ANY OF THE LOAN DOCUMENTS OR ANY OF THE TRANSACTIONS
CONTEMPLATED THEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS.
EACH PARTY RECOGNIZES AND AGREES THAT THE FOREGOING WAIVER CONSTITUTES A MATERIAL INDUCEMENT FOR IT TO ENTER INTO THIS AGREEMENT.
EACH PARTY REPRESENTS AND WARRANTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY
WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.


 


12.
JUDICIAL REFERENCE PROVISION.


 


12.1
In the event the Jury Trial Waiver set forth above is not enforceable, the parties elect to proceed under this Judicial Reference
Provision.


 


12.2
With the exception of the items specified in Section 12.3, below, any controversy, dispute or claim (each, a “Claim”)
between the parties arising out of or relating to this Agreement or any other document, instrument or agreement between the undersigned
parties (collectively in this Section, the “Loan Documents”), will be resolved by a reference proceeding
in California in accordance with the provisions of Sections 638 et seq. of the California Code of Civil Procedure (“CCP”),
or their successor sections, which shall constitute the exclusive remedy for the resolution of any Claim, including whether the
Claim is subject to the reference proceeding. Except as otherwise provided in the Loan Documents, venue for the reference proceeding
will be in the state or federal court in the county or district where the real property involved in the action, if any, is located
or in the state or federal court in the county or district where venue is otherwise appropriate under applicable law (the “Court”).


 


12.3
The matters that shall not be subject to a reference are the following: (i) nonjudicial foreclosure of any security interests
in real or personal property, (ii) exercise of self-help remedies (including, without limitation, set-off), (iii) appointment
of a receiver and (iv) temporary, provisional or ancillary remedies (including, without limitation, writs of attachment, writs
of possession, temporary restraining orders or preliminary injunctions). This reference provision does not limit the right of
any party to exercise or oppose any of the rights and remedies described in clauses (i) and (ii) or to seek or oppose from a court
of competent jurisdiction any of the items described in clauses (iii) and (iv). The exercise of, or opposition to, any of those
items does not waive the right of any party to a reference pursuant to this reference provision as provided herein.


 


12.4
The referee shall be a retired judge or justice selected by mutual written agreement of the parties. If the parties do not
agree within ten (10) days of a written request to do so by any party, then, upon request of any party, the referee shall be selected
by the Presiding Judge of the Court (or his or her representative). A request for appointment of a referee may be heard on an
ex parte or expedited basis, and the parties agree that irreparable harm would result if ex parte relief is not granted. Pursuant
to CCP § 170.6, each party shall have one peremptory challenge to the referee selected by the Presiding Judge of the Court
(or his or her representative).


 


12.5
The parties agree that time is of the essence in conducting the reference proceedings. Accordingly, the referee shall be requested,
subject to change in the time periods specified herein for good cause shown, to (i) set the matter for a status and trial-setting
conference within fifteen (15) days after the date of selection of the referee, (ii) if practicable, try all issues of law or
fact within one hundred twenty (120) days after the date of the conference and (iii) report a statement of decision within twenty
(20) days after the matter has been submitted for decision.


 




    	23



     


    

 


12.6
The referee will have power to expand or limit the amount and duration of discovery. The referee may set or extend discovery
deadlines or cutoffs for good cause, including a party’s failure to provide requested discovery for any reason whatsoever.
Unless otherwise ordered based upon good cause shown, no party shall be entitled to “priority” in conducting discovery,
depositions may be taken by either party upon seven (7) days written notice, and all other discovery shall be responded to within
fifteen (15) days after service. All disputes relating to discovery which cannot be resolved by the parties shall be submitted
to the referee whose decision shall be final and binding.


 


12.7
Except as expressly set forth herein, the referee shall determine the manner in which the reference proceeding is conducted
including the time and place of hearings, the order of presentation of evidence, and all other questions that arise with respect
to the course of the reference proceeding. All proceedings and hearings conducted before the referee, except for trial, shall
be conducted without a court reporter, except that when any party so requests, a court reporter will be used at any hearing conducted
before the referee, and the referee will be provided a courtesy copy of the transcript. The party making such a request shall
have the obligation to arrange for and pay the court reporter. Subject to the referee’s power to award costs to the prevailing
party, the parties will equally share the cost of the referee and the court reporter at trial.


 


12.8
The referee shall be required to determine all issues in accordance with existing case law and the statutory laws of the State
of California. The rules of evidence applicable to proceedings at law in the State of California will be applicable to the reference
proceeding. The referee shall be empowered to enter equitable as well as legal relief, enter equitable orders that will be binding
on the parties and rule on any motion which would be authorized in a court proceeding, including without limitation motions for
summary judgment or summary adjudication. The referee shall issue a decision at the close of the reference proceeding which disposes
of all claims of the parties that are the subject of the reference. Pursuant to CCP § 644, such decision shall be entered
by the Court as a judgment or an order in the same manner as if the action had been tried by the Court and any such decision will
be final, binding and conclusive. The parties reserve the right to appeal from the final judgment or order or from any appealable
decision or order entered by the referee. The parties reserve the right to findings of fact, conclusions of laws, a written statement
of decision, and the right to move for a new trial or a different judgment, which new trial, if granted, is also to be a reference
proceeding under this provision.


 


12.9
If the enabling legislation which provides for appointment of a referee is repealed (and no successor statute is enacted),
any dispute between the parties that would otherwise be determined by reference procedure will be resolved and determined by arbitration.
The arbitration will be conducted by a retired judge or justice, in accordance with the California Arbitration Act §1280
through §1294.2 of the CCP as amended from time to time. The limitations with respect to discovery set forth above shall
apply to any such arbitration proceeding.


 


12.10
THE PARTIES RECOGNIZE AND AGREE THAT ALL CONTROVERSIES, DISPUTES AND CLAIMS RESOLVED UNDER THIS REFERENCE PROVISION WILL BE
DECIDED BY A REFEREE AND NOT BY A JURY. AFTER CONSULTING (OR HAVING HAD THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF ITS, HIS OR
HER OWN CHOICE, EACH PARTY KNOWINGLY AND VOLUNTARILY, AND FOR THE MUTUAL BENEFIT OF ALL PARTIES, AGREES THAT THIS REFERENCE PROVISION
WILL APPLY TO ANY CONTROVERSY, DISPUTE OR CLAIM BETWEEN OR AMONG THEM ARISING OUT OF OR IN ANY WAY RELATED TO, THIS AGREEMENT
OR THE OTHER LOAN DOCUMENTS.


 


13.
General Provisions.


 


13.1
Successors and Assigns. This Agreement shall bind and inure to the benefit of the respective successors and permitted assigns
of each of the parties; provided, however, that neither this Agreement nor any rights hereunder may be assigned by Borrower without
Bank’s prior written consent, which consent may be granted or withheld in Bank’s sole discretion. Bank shall have
the right without the consent of or notice to Borrower to sell, transfer, negotiate, or grant participation in all or any part
of, or any interest in, Bank’s obligations, rights and benefits hereunder.


 




    	24



     


    

 


13.2
Indemnification. Borrower shall defend, indemnify and hold harmless Bank and its officers, employees, and agents against:
(a) all obligations, demands, claims, and liabilities claimed or asserted by any other party in connection with the transactions
contemplated by this Agreement; and (b) all losses or Bank Expenses in any way suffered, incurred, or paid by Bank as a result
of or in any way arising out of, following, or consequential to transactions between Bank and Borrower whether under this Agreement,
or otherwise (including without limitation reasonable attorneys’ fees and expenses), except for losses caused by Bank’s
gross negligence or willful misconduct.


 


13.3
Time of Essence. Time is of the essence for the performance of all obligations set forth in this Agreement.


 


13.4
Severability of Provisions. Each provision of this Agreement shall be severable from every other provision of this Agreement
for the purpose of determining the legal enforceability of any specific provision.


 


13.5
Amendments in Writing, Integration. Neither this Agreement nor the Loan Documents can be amended or terminated orally. All
prior agreements, understandings, representations, warranties, and negotiations between the parties hereto with respect to the
subject matter of this Agreement and the Loan Documents, if any, are merged into this Agreement and the Loan Documents.


 


13.6
Counterparts. This Agreement may be executed in any number of counterparts and by different parties on separate counterparts,
each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute
but one and the same Agreement.


 


13.7
Survival. All covenants, representations and warranties made in this Agreement shall continue in full force and effect so long
as any Obligations remain outstanding or Bank has any obligation to make Credit Extensions to Borrower. The obligations of Borrower
to indemnify Bank with respect to the expenses, damages, losses, costs and liabilities described in Section 13.2 shall survive
until all applicable statute of limitations periods with respect to actions that may be brought against Bank have run.


 


13.8
Confidentiality. In handling any confidential information Bank and all employees and agents of Bank, including but not limited
to accountants, shall exercise the same degree of care that it exercises with respect to its own proprietary information of the
same types to maintain the confidentiality of any non-public information thereby received or received pursuant to this Agreement
except that disclosure of such information may be made (i) to the subsidiaries or affiliates of Bank in connection with their
present or prospective business relations with Borrower, (ii) to prospective transferees or purchasers of any interest in the
Loans, (iii) as required by law, regulations, rule or order, subpoena, judicial order or similar order, (iv) as may be required
in connection with the examination, audit or similar investigation of Bank and (v) as Bank may determine in connection with the
enforcement of any remedies hereunder. Confidential information hereunder shall not include information that either: (a) is in
the public domain or in the knowledge or possession of Bank when disclosed to Bank, or becomes part of the public domain after
disclosure to Bank through no fault of Bank; or (b) is disclosed to Bank by a third party, provided Bank does not have actual
knowledge that such third party is prohibited from disclosing such information.


 


13.9
Patriot Act Notice. Bank notifies Borrower that, pursuant to the requirements of the USA Patriot Act, Title III of Pub. L.
107-56 (signed into law on October 26, 2001) (the “Patriot Act”), it is required to obtain, verify and record information
that identifies Borrower, which information includes names and addresses and other information that will allow Bank to identify
Borrower in accordance with the Patriot Act.


 




    	25



     


    

 


14.
CO-BORROWERS.


 


14.1
Co-Borrowers. Borrowers are jointly and severally liable for the Obligations and Bank may proceed against one Borrower to
enforce the Obligations without waiving its right to proceed against the other Borrower. This Agreement and the Loan Documents
are a primary and original obligation of each Borrower and shall remain in effect notwithstanding future changes in conditions,
including any change of law or any invalidity or irregularity in the creation or acquisition of any Obligations or in the execution
or delivery of any agreement between Bank and any Borrower. Each Borrower shall be liable for existing and future Obligations
as fully as if all of the Credit Extensions were advanced to such Borrower. Bank may rely on any certificate or representation
made by any Borrower as made on behalf of, and binding on, each Borrower, including without limitation Advance Request Forms and
Compliance Certificates. Each Borrower appoints each other Borrower as its agent with all necessary power and authority to give
and receive notices, certificates or demands for and on behalf of each Borrower, to act as disbursing agent for receipt of any
Advances on behalf of each Borrower and to apply to Bank on behalf of each Borrower for Advances, any waivers and any consents.
This authorization cannot be revoked, and Bank need not inquire as to one Borrower’s authority to act for or on behalf of
another Borrower.


 


14.2
Subrogation and Similar Rights. Notwithstanding any other provision of this Agreement or any other Loan Document, each Borrower
irrevocably waives, until all Obligations (other than inchoate indemnity obligations) are paid in full and Bank has no further
obligation to make Credit Extensions to each Borrower, all rights that it may have at law or in equity (including, without limitation,
any law subrogating a Borrower to the rights of Bank under the Loan Documents) to seek contribution, indemnification, or any other
form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of
the Obligations, for any payment made by a Borrower with respect to the Obligations in connection with the Loan Documents or otherwise
and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment
made by a Borrower with respect to the Obligations in connection with the Loan Documents or otherwise. Any agreement providing
for indemnification, reimbursement or any other arrangement prohibited under this Section shall be null and void. If any payment
is made to a Borrower in contravention of this Section, such Borrower shall hold such payment in trust for Bank and such payment
shall be promptly delivered to Bank for application to the Obligations, whether matured or unmatured.


 


14.3
Waivers of Notice. Each Borrower waives, to the extent permitted by law, notice of acceptance hereof; notice of the existence,
creation or acquisition of any of the Obligations; notice of an Event of Default except as set forth herein; notice of the amount
of the Obligations outstanding at any time; notice of any adverse change in the financial condition of any other Borrower or of
any other fact that might increase a Borrower’s risk; presentment for payment; demand; protest and notice thereof as to
any instrument; and all other notices and demands to which Borrower would otherwise be entitled by virtue of being a co-borrower
or a surety. Each Borrower waives any defense arising from any defense of any other Borrower, or by reason of the cessation from
any cause whatsoever of the liability of any other Borrower. Bank’s failure at any time to require strict performance by
any Borrower of any provision of the Loan Documents shall not waive, alter or diminish any right of Bank thereafter to demand
strict compliance and performance therewith. Each Borrower also waives any defense arising from any act or omission of Bank that
changes the scope of Borrower’s risks hereunder. Each Borrower hereby waives any right to assert against Bank any defense
(legal or equitable), setoff, counterclaim, or claims that such Borrower individually may now or hereafter have against another
Borrower or any other Person liable to Bank with respect to the Obligations in any manner or whatsoever.


 


14.4
Subrogation of Defenses. For so long as any Obligations are outstanding or Bank has any obligations to make Credit Extensions
to Borrower hereunder, each Borrower hereby agrees not to assert any defense based on impairment or destruction of its subrogation
or other rights against any other Borrower and waives all benefits which might otherwise be available to it under California Civil
Code Sections 2809, 2810, 2819, 2839, 2845, 2848, 2849, 2850, 2899, and 3433 and California Code of Civil Procedure Sections 580a,
580b, 580d and 726, as those statutory provisions are now in effect and hereafter amended, and under any other similar statutes
now and hereafter in effect. This Section 14.4 shall have no further force or effect and shall terminate automatically upon the
indefeasible repayment in full in cash of all Obligations owing to Bank and the termination of this Agreement and Bank’s
obligation to make Credit Extensions to Borrower hereunder.


 




    	26



     


    

 


14.5
Right to Settle, Release


 


(a)
The liability of Borrower hereunder shall not be diminished by (i) any agreement, understanding or representation that any of
the Obligations is or was to be guaranteed by another Person or secured by other property, or (ii) any release or unenforceability,
whether partial or total, of rights, if any, which Bank may now or hereafter have against any other Person, including another
Borrower, or property with respect to any of the Obligations.


 


(b)
Without notice to any given Borrower and without affecting the liability of any given Borrower hereunder, Bank may (i) compromise,
settle, renew, extend the time for payment, change the manner or terms of payment, discharge the performance of, decline to enforce,
or release all or any of the Obligations with respect to any other Borrower by written agreement with such other Borrower, (ii)
grant other indulgences to another Borrower in respect of the Obligations, (iii) modify in any manner any documents relating to
the Obligations with respect to any other Borrower by written agreement with such other Borrower, (iv) release, surrender or exchange
any deposits or other property securing the Obligations, whether pledged by a Borrower or any other Person, or (v) compromise,
settle, renew, or extend the time for payment, discharge the performance of, decline to enforce, or release all or any obligations
of any guarantor, endorser or other Person who is now or may hereafter be liable with respect to any of the Obligations.


 


14.6
Subordination. All indebtedness of a Borrower now or hereafter arising held by another Borrower, except as disclosed in the
attached Schedule, is subordinated to the Obligations and Borrower holding the indebtedness shall take all actions reasonably
requested by Bank to effect, to enforce and to give notice of such subordination.


 


15.
AMENDMENT AND RESTATEMENT.


 


15.1
Borrower acknowledges, confirms and agrees that (i) the security interests and liens granted to Bank pursuant to the Existing
Agreement shall remain in full force and effect and shall secure all Obligations hereunder, (ii) such security interests and liens
shall be deemed to be continuously granted and perfected from the earliest date of granting and perfection of such security interests
and liens, whether under the Existing Agreement or otherwise, (iii) the Obligations represent, among other things, the amendment,
restatement, renewal, extension, consolidation and modification of the Existing Obligations arising in connection with the Existing
Agreement and the Existing Loan Documents and (iv) the Existing Agreement and the Existing Loan Documents to which Borrower is
a party have been duly executed and delivered by such Borrower and are in full force and effect as of the date hereof.


 


15.2
The terms, conditions, agreements, covenants, representations and warranties set forth in the Existing Agreement are, effective
as of the date hereof, amended and restated in their entirety, and as so amended and restated, replaced and superseded, by the
terms, conditions, agreements, covenants, representations and warranties set forth herein; provided that each of Borrower and
Bank acknowledges, confirms and agrees that such amendment and restatement shall not, in any manner, (i) be construed to constitute
payment of, or impair, limit, cancel or extinguish, or constitute a novation in respect of, the Existing Obligations of Borrower
evidenced by or arising under the Existing Agreement or the Existing Loan Documents, all such Existing Obligations being deemed
Obligations under this Agreement or (ii) adversely affect or impair the priority of security interests and liens granted by the
Existing Agreement and Existing Loan Documents.


 


16.
Waiver of Specified Default.


 


16.1
Borrower acknowledges and agrees that the Specified Default has occurred and is continuing under the Existing Agreement.


 


16.2
At the request of and as an accommodation to Borrower, Bank hereby waives the Specified Default. Except as expressly set forth
herein with respect to the Specified Default, Bank has not waived, is not waiving, and has no intention of waiving any Event of
Default which may have occurred on or prior to the date hereof, whether or not continuing on the date hereof, or which may occur
after the date hereof, whether the same to the Specified Default or otherwise.


 


17.
NOTICE OF FINAL AGREEMENT.


 


BY
SIGNING THIS DOCUMENT EACH PARTY REPRESENTS AND AGREES THAT: (A) THIS WRITTEN AGREEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN
THE PARTIES, (B) THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES, AND (C) THIS WRITTEN AGREEMENT MAY NOT BE CONTRADICTED
BY EVIDENCE OF ANY PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR UNDERSTANDINGS OF THE PARTIES.


 


[Signature
page follows]


 




    	27



     


    

 


IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first above written.


 


	 	STREAMLINE
    HEALTH SOLUTIONS, INC., a Delaware corporation
	 	 	 
	 	By:	 
	 	Name:	Thomas
    J. Gibson
	 	Title:	Senior
Vice President & Chief Financial Officer
	 	 	 
	 	STREAMLINE
    HEALTH, INC., an Ohio corporation
	 	 	 
	 	By:	 
	 	Name:	Thomas
    J. Gibson
	 	Title:	Chief
    Financial Officer & Secretary
	 	 	 
	 	WESTERN
    ALLIANCE BANK, an Arizona corporation
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 


 


[Signature Page to Amended and Restated Loan and Security Agreement] 


 




    	 



     


    

 


EXHIBIT
A


 


	DEBTOR:	Streamline
    health solutions, inc., a delaware corporation
	 	streamline
    health, inc., aN OHIO corporation
	 	 
	SECURED
    PARTY:	WESTERN
    ALLIANCE BANK, an Arizona corporation


 


COLLATERAL
DESCRIPTION ATTACHMENT

TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT


 


All
personal property of Borrower (herein referred to as “Borrower” or “Debtor”) whether presently existing
or hereafter created or acquired, and wherever located, including, but not limited to:


 


(a)
all accounts (including health-care-insurance receivables), chattel paper (including tangible and electronic chattel paper), deposit
accounts, documents (including negotiable documents), equipment (including all accessions and additions thereto), Intellectual
Property Collateral and other general intangibles (including payment intangibles and software), goods (including fixtures), instruments
(including promissory notes), inventory (including all goods held for sale or lease or to be furnished under a contract of service,
and including returns and repossessions), investment property (including securities and securities entitlements), letter of credit
rights, money, and all of Debtor’s books and records with respect to any of the foregoing, and the computers and equipment
containing said books and records;


 


(b)
any and all cash proceeds and/or noncash proceeds of any of the foregoing, including, without limitation, insurance proceeds,
and all supporting obligations and the security therefor or for any right to payment. All terms above have the meanings given
to them in the California Uniform Commercial Code, as amended or supplemented from time to time.


 


Pursuant
to the terms of a certain negative pledge arrangement with Bank, Borrower has agreed not to encumber any of its Intellectual Property.


 




    	 



     


    

 


Exhibit
B


 


REVOLVING
ADVANCE REQUEST


(To
be submitted no later than 3:00 PM to be considered for same day processing)


 


	To:	Western
    Alliance Bank, an Arizona corporation	 
	 	 	 
	 	 	 
	 	 	 
	Date:	 	 
	 	 	 
	From:	 	 
	 	Borrower’s
    Name	 
		 	 
	 	 	 
	 	Authorized
    Signature	 
		 	 
	 	 	 
	 	Authorized
    Signer’s Name (please print)	 
		 	 
	 	 	 
	 	Phone
    Number	 


 


	To
    Account #	 	 


 


Borrower
hereby requests funding in the amount of $ _______ in accordance with the Revolving Advance as defined in the Amended and Restated
Loan and Security Agreement dated March 2, 2021.


 


All
representations and warranties of Borrower stated in the Amended and Restated Loan and Security Agreement are true, correct and
complete in all material respects as of the date of this Revolving Advance Request; provided that those representations
and warranties expressly referring to another date shall be true, correct and complete in all material respects as of such date.


 


Capitalized
terms used herein and not otherwise defined have the meanings set forth in the Amended and Restated Loan and Security Agreement.


 




    	 



     


    

 


Exhibit
C


 


BORROWING BASE CERTIFICATE



 


[See
attached].


 




    	 



     


    

 


Exhibit
D


 


Compliance
Certificate


 


	TO:	WESTERN
    ALLIANCE BANK, an Arizona corporation
	 	 
	FROM:	Streamline
    Health Solutions, Inc., a Delaware corporation and Streamline Health, Inc., an Ohio corporation


 


The
undersigned authorized officer of Borrower hereby certifies that in accordance with the terms and conditions of the Amended and
Restated Loan and Security Agreement between Borrower and Bank (the “Agreement”), (i) Borrower is in complete compliance
for the period ending _______________ with all required covenants except as noted below and (ii) all representations and warranties
of Borrower stated in the Agreement are true and correct as of the date hereof. Attached herewith are the required documents supporting
the above certification. The Officer further certifies that these are prepared in accordance with Generally Accepted Accounting
Principles (GAAP) and are consistently applied from one period to the next except as explained in an accompanying letter or footnotes.


 


Please
indicate compliance status by circling Yes/No under “Complies” column.


 


	Reporting
    Covenant	 	Required	 	Complies
	 	 	 	 	 	 
	Annual
    financial statements (CPA Audited)	 	FYE
    within 180 days	 	Yes	No
	 	 	 	 	 	 
	Monthly
    financial statements and a Compliance Certificate	 	Monthly
    within 30 days	 	Yes	No
	 	 	 	 	 	 
	10K
    and 10Q	 	(as
    applicable)	 	Yes	No
	 	 	 	 	 	 
	Annual
    operating budget, sales projections and operating plans approved by board of directors	 	Annually
    no later than 30 days prior to the beginning of each fiscal year	 	Yes	No
	 	 	 	 	 	 
	A/R
    & A/P Agings, Borrowing Base Certificate, Deferred Revenue Schedule and Monthly Recurring Revenue Report	 	Monthly
    within 30 days	 	Yes	No
	 	 	 	 	 	 
	A/R
    Audit	 	Initial
    and Annual	 	Yes	No
	 	 	 	 	 	 
	Deposit
    balances with Bank	 	$
    ___________________	 	 	 
	Deposit
    balance outside Bank	 	$
    ___________________	 	 	 


 


	Financial
    Covenant	 	Required	 	Actual	 	Complies
	 	 	 	 	 	 	 	 
	Adjusted
    EBITDA Performance to Plan (T3M)	 	<
    30% or < $300,000	 	_____%	 	Yes	No
	 	 	 	 	 	 	 	 
	Recurring
    Revenue Performance to Plan (T3M)	 	<
    20%	 	_____%	 	Yes	No
	 	 	 	 	 	 	 	 
	Recurring
    Revenue Performance to Plan (YTD)	 	<
    20%	 	_____%	 	Yes	No


 




    	1



     


    

 


Intellectual
Property Updates


 


Attached
as Exhibit A is a listing of listing of any applications or registrations of


intellectual
property rights filed with the United States Patent and Trademark Office,


including
the date of such filing and the registration or application numbers, if any,


since
the date of the last such Compliance Certificate delivered to Bank.


 


	Comments
    Regarding Exceptions: See Attached.	 	BANK
    USE ONLY
	 	 	 
	 	 	Received
    by:___________________________________
	Sincerely,	 	AUTHORIZED
    SIGNER
	 	 	 
	 	 	Date:_________________________________________
	 	 	 
	 	 	 
	 	 	Verified:______________________________________
	SIGNATURE	 	AUTHORIZED
    SIGNER
	 	 	 
	 	 	Date:_________________________________________
	TITLE	 	 
	 	 	Compliance
    Status	Yes           No
	 	 	 
	DATE	 	 


 




    	2



     


    

 


EXHIBIT
A TO COMPLIANCE CERTIFICATE


Intellectual
Property Updates


 


[see
attached]


 




    	1



     


    

 


SCHEDULE
OF EXCEPTIONS


 


	Permitted
    Indebtedness (Section 1.1)
	 	 	 
	 	●	None
	 	 	 
	Permitted
    Investments (Section 1.1)
	 	 	 
	 	●	None
	 	 	 
	Permitted
    Liens (Section 1.1)
	 	 	 
	 	●	None
	 	 	 
	Inbound
    Licenses (Section 5.6)
	 	 	 
	 	●	A
    license on Clinical Analytics that is tied to that certain minimum royalty agreement by and between Streamline Health, Inc.
    and Montefiore Healthcare dated October 25, 2013, and amended July 1, 2018. That license is for 15 years from the effective
    date of the Contract, October 25, 2013.
	 	 	 
	Prior
    Names (Section 5.7)
	 	 	 
	 	●	None.
	 	 	 
	Litigation
    (Section 5.8)
	 	 	 
	 	●	None


 




    	2



     


    

 


Schedule
6.9


 


fINANCIAL
PLAN


 





 




    	3