Document:

EX-10.35

 Exhibit 10.35 

STRICTLY CONFIDENTIAL 
 SECOND
AMENDMENT TO 
 AMENDED AND RESTATED SECURED PROMISSORY NOTE 

THIS SECOND AMENDMENT TO AMENDED AND RESTATED SECURED PROMISSORY NOTE (this “Amendment”) is dated as of May 21st, 2020, and entered into by (A)(i) Micromidas, Inc. (dba Origin Materials), a company organized and existing under the laws of the state of Delaware (“Origin”), whose principal
office is at 930 Riverside Parkway, Suite 10, West Sacramento, CA 95605, United States of America, (ii) Origin Materials Canada Holding Limited, a corporation incorporated under the laws of the Province of New Brunswick (“OMC
Holding”), whose principal office is at 44 Chipman Hill, Suite 1000, Saint John, New Brunswick, Canada E2L 2A9 and (iii) Origin Materials Canada Pioneer Limited, a corporation incorporated under the laws of the Province of New
Brunswick (“OMC Pioneer”), whose principal office is at 44 Chipman Hill, Suite 1000, Saint John, New Brunswick, Canada E2L 2A9 (individually and collectively, “Maker”) and (B) Danone Asia Pte Ltd, a limited
liability company organized and existing under the laws of Singapore, whose registered office is at 1 Wallich Street, #18-01 Guoco Tower, Singapore 078881 (together with its successors and assigns,
“Holder”). 
 WHEREAS, Maker and Holder entered into that certain Amended and Restated Secured Promissory Note, dated as of
May 17, 2019 (the “Note”), evidencing certain Advances made by Holder to Maker in aggregate principal amount of $5,189,169.32 and setting forth the security and terms of repayment therefor; 

WHEREAS, Maker and Holder entered into that certain First Amendment to the Amended and Restated Secured Promissory Note, dated as of
November 8, 2019 (the “First Amendment”); 
 WHEREAS, Holder entered into that certain Subordination Agreement, dated
as of November 8, 2019, by and among PM Operating, Ltd., as collateral agent for (and on behalf of) the Senior Creditors (as defined therein), Holder, as holder of the Subordinated Danone Obligations (as defined therein), and Nestlé
Waters Management & Technology (“Nestlé”), as holder of the Subordinated Nestle Obligations (as defined therein), and acknowledged and agreed to by Origin and the other Grantors (as defined therein) party thereto;
and 
 WHEREAS, in connection with the Subordination Agreement, Maker and Holder entered into that certain First Amendment to Amended and
Restated Secured Promissory Note; 
 WHEREAS, Maker and Holder intend to amend certain terms of the Subordination Agreement, notably the
definition of “Second Priority Enforcement Date” (as defined therein); and 
 WHEREAS, an amendment of the Note is necessary to
conform the definitions of “Due Date” and “Maturity Date” (each as defined therein) to the amended definition of “Second Priority Enforcement Date” in the Subordination Agreement. 

NOW, THEREFORE in consideration of the mutual covenants and agreements contained herein, the parties covenant and agree as follows: 

 ARTICLE 1 

DEFINED TERMS 
 1.1
Capitalized Terms. All capitalized terms which are used herein without being specifically defined herein shall have the meanings ascribed thereto in the Note, as amended by the First Amendment. 

ARTICLE 2 
 AMENDMENTS TO
NOTE 
 2.1 General Rule. Subject to the terms and conditions herein contained, the Note is hereby amended to the extent
necessary to give effect to the provisions of this agreement and to incorporate the provisions of this agreement into the Note. 
 2.2
Amendments. 
 (a) The definition of “Due Date” set forth in Section 2(a) of the Note is hereby
amended and restated in its entirety as follows: 
 “Due Date” means, as applicable, each of the three dates on which each
of three installments of principal and, in each case, all interest accrued thereon to and including such date, becomes due and payable, as set forth in Schedule I; provided, that if the Discharge of Senior Obligations (as defined in
the Subordination Agreement) has not occurred on or before June 29, 2021, the Due Date shall be June 30, 2021. 
 (b) The
definition of “Maturity Date” set forth in Section 2(a) of the Note is hereby amended and restated in its entirety as follows: 

“Maturity Date” means the latest Due Date set forth on Schedule I; provided, that if the Discharge of Senior
Obligations (as defined in the Subordination Agreement) has not occurred on or before June 29, 2021, the Maturity Date shall be June 30, 2021. 

ARTICLE 3 

REPRESENTATIONS AND WARRANTIES 

3.1 Representations and Warranties. To induce Holder to enter into this agreement, Maker hereby represents and warrants to
Holder that the representations and warranties of Maker which are contained in Section 9 of the Note, as amended hereby, are true and correct on the date hereof as if made on the date hereof or, to the extent any representation or warranty is
made or deemed made as of a specific date, as of such date. 

  
 2 

 ARTICLE 4 

CONDITIONS PRECEDENT 

4.1 Conditions Precedent. This agreement shall not become effective unless and until the date when the following conditions are
met or waived (the “Amendment Effective Date”): 
 (i) the parties hereto shall have executed and delivered this agreement;

 (ii) the amended Subordination Agreement shall have become effective in accordance with its terms, as certified by a duly authorized
officer of Origin; and 
 (iii) Maker shall have delivered to Holder any other documentation or certificates Holder may reasonably request.

 ARTICLE 5 

MISCELLANEOUS 
 5.1
Future References to the Note. On and after the date of this agreement, each reference in the Note to “this Note”, “hereunder”, “hereof”, or words of like import referring to the Note, and each reference in any
related document to the “Note”, “thereunder”, “thereof”, or words of like import referring to the Note, shall mean and be a reference to the Note as amended hereby. The Note, as amended hereby, is and shall continue to
be in full force and effect and is hereby in all respects ratified and confirmed. 
 5.2 Governing Law; Severability. This
Amendment shall be governed by and construed in accordance with the internal laws of the State of New York. The invalidity, illegality or unenforceability of any provision of this Amendment shall not affect or impair the validity, legality or
enforceability of the remainder of this Agreement, and to this end, the provisions of this Agreement are declared to be severable. 

5.3 Inurement. This agreement shall inure to the benefit of and shall be binding upon Maker and Holder and their respective
successors and permitted assigns. 
 5.4 Conflict. If any provision of this agreement is inconsistent or conflicts with any
provision of the Note, the relevant provision of this agreement shall prevail and be paramount. 
 5.5 Further Assurances.
Maker shall do, execute and deliver or shall cause to be done, executed and delivered all such further acts, documents and things as Holder may reasonably request for the purpose of giving effect to this agreement and to each and every provision
hereof. 
 5.6 Counterparts. This agreement may be executed in one or more counterparts, each of which shall be deemed to be an
original and all of which taken together shall be deemed to constitute one and the same instrument. 

  
 3 

 IN WITNESS WHEREOF, the parties hereto have executed and delivered this agreement on the
date first above written. 
  

			
	MAKER:
	
	Micromidas, Inc. (dba Origin Materials)
		
	By:	 	 /s/ John Bissell

	Name: John Bissell
	Its: President
	
	Origin Materials Canada Holding Limited
		
	By:	 	 /s/ John Bissell

	Name: John Bissell
	Its: President
	
	Origin Materials Canada Pioneer Limited
		
	By:	 	 /s/ John Bissell

	Name: John Bissell
	Its: President
	
	HOLDER:
	
	Danone Asia Pte Ltd
		
	By:	 	 /s/ Nicolas Gregoire

	Name: Nicolas Gregoire
	Its: Plastic Cycle Director

 Origin – Second Amendment to First Amended and Restated Secured Promissory NoteEX-10.36

 Exhibit 10.36 

STRICTLY CONFIDENTIAL 
 THIRD
AMENDMENT TO 
 AMENDED AND RESTATED SECURED PROMISSORY NOTE 

THIS THIRD AMENDMENT TO AMENDED AND RESTATED SECURED PROMISSORY NOTE (this “Amendment”) is dated as of January [22],
2021, and entered into by (A)(i) Micromidas, Inc. (dba Origin Materials), a company organized and existing under the laws of the state of Delaware (“Origin”), whose principal office is at 930 Riverside Parkway, Suite 10, West
Sacramento, CA 95605, United States of America, (ii) Origin Materials Canada Holding Limited, a corporation incorporated under the laws of the Province of New Brunswick (“OMC Holding”), whose principal office is at 44 Chipman
Hill, Suite 1000, Saint John, New Brunswick, Canada E2L 2A9 and (iii) Origin Materials Canada Pioneer Limited, a corporation incorporated under the laws of the Province of New Brunswick (“OMC Pioneer”), whose principal
office is at 44 Chipman Hill, Suite 1000, Saint John, New Brunswick, Canada E2L 2A9 (individually and collectively, “Maker”) and (B) Danone Asia Pte Ltd, a limited liability company organized and existing under the laws of
Singapore, whose registered office is at 1 Wallich Street, #18-01 Guoco Tower, Singapore 078881 (together with its successors and assigns, “Holder”). 

WHEREAS, Maker and Holder entered into that certain Amended and Restated Secured Promissory Note, dated as of May 17, 2019 (the
“Original Note”), evidencing certain Advances made by Holder to Maker in aggregate principal amount of $5,189,169.32 and setting forth the security and terms of repayment therefor; 

WHEREAS, Maker and Holder entered into that certain First Amendment to the Amended and Restated Secured Promissory Note, dated as of
November 8, 2019 (the “First Amendment to Note”); 
 WHEREAS, Maker and Holder entered into that certain Second
Amendment to the Amended and Restated Secured Promissory Note, dated as of May 21, 2020 (the “First Amendment to Note”); 

WHEREAS, Holder entered into that certain Subordination Agreement, dated as of November 8, 2019, by and among PM Operating, Ltd., as
collateral agent for (and on behalf of) the Senior Creditors (as defined therein), Holder, as holder of the Subordinated Danone Obligations (as defined therein), and Nestlé Waters Management & Technology
(“Nestlé”), as holder of the Subordinated Nestle Obligations (as defined therein), and acknowledged and agreed to by Origin and the other Grantors (as defined therein) party thereto (the “Subordination
Agreement”); and 
 WHEREAS, Holder entered into that certain First Amendment to Subordination Agreement, dated as of May 21,
2020 (the “First Amendment to Subordination Agreement”); 
 WHEREAS, in connection with the Subordination Agreement, Maker
and Holder entered into that certain First Amendment to Note, and in connection with the First Amendment to Subordination Agreement, Maker and Holder entered into that Second Amendment to Note; 

WHEREAS, Maker and Holder intend to amend certain terms of the Subordination Agreement, notably the definition of “Second Priority
Enforcement Date” (as defined therein); and 

 WHEREAS, an amendment of the Note is necessary to conform the definitions of “Due
Date” and “Maturity Date” (each as defined therein) to the amended definition of “Second Priority Enforcement Date” in the Subordination Agreement. 

NOW, THEREFORE in consideration of the mutual covenants and agreements contained herein, the parties covenant and agree as follows: 

ARTICLE 1 
 DEFINED TERMS

 1.1 Capitalized Terms. All capitalized terms which are used herein without being specifically defined herein shall have
the meanings ascribed thereto in the Note, as amended by the First Amendment. 
 ARTICLE 2 

AMENDMENTS TO NOTE 

2.1 General Rule. Subject to the terms and conditions herein contained, the Note is hereby amended to the extent necessary to
give effect to the provisions of this agreement and to incorporate the provisions of this agreement into the Note. 
 2.2 Amendments.

 (a) The definition of “Due Date” set forth in Section 2(a) of the Note is hereby amended and
restated in its entirety as follows: 
 “Due Date” means, as applicable, each of the three dates on which each of three
installments of principal and, in each case, all interest accrued thereon to and including such date, becomes due and payable, as set forth in Schedule I; provided, that if the Discharge of Senior Obligations (as defined in the
Subordination Agreement) has not occurred on or before December 30, 2021, the Due Date shall be December 31, 2021. 
 (b) The
definition of “Maturity Date” set forth in Section 2(a) of the Note is hereby amended and restated in its entirety as follows: 

“Maturity Date” means the latest Due Date set forth on Schedule I; provided, that if the Discharge of Senior
Obligations (as defined in the Subordination Agreement) has not occurred on or before December 30, 2021, the Maturity Date shall be December 31, 2021. 

ARTICLE 3 

REPRESENTATIONS AND WARRANTIES 

3.1 Representations and Warranties. To induce Holder to enter into this agreement, Maker hereby represents and warrants to
Holder that the representations and warranties of Maker which are contained in Section 9 of the Note, as amended hereby, are true and correct on the date hereof as if made on the date hereof or, to the extent any representation or warranty is
made or deemed made as of a specific date, as of such date. 

  
 2 

 ARTICLE 4 

CONDITIONS PRECEDENT 

4.1 Conditions Precedent. This agreement shall not become effective unless and until the date when the following conditions are
met or waived (the “Amendment Effective Date”): 
 (i) the parties hereto shall have executed and delivered this agreement;

 (ii) the amended Subordination Agreement shall have become effective in accordance with its terms, as certified by a duly authorized
officer of Origin; and 
 (iii) Maker shall have delivered to Holder any other documentation or certificates Holder may reasonably request.

 ARTICLE 5 

MISCELLANEOUS 
 5.1
Future References to the Note. On and after the date of this agreement, each reference in the Note to “this Note”, “hereunder”, “hereof’, or words of like import referring to the Note, and each reference in any
related document to the “Note”, “thereunder”, “thereof’, or words of like import referring to the Note, shall mean and be a reference to the Note as amended hereby. The Note, as amended hereby, is and shall continue to
be in full force and effect and is hereby in all respects ratified and confirmed. 
 5.2 Governing Law; Severability. This
Amendment shall be governed by and construed in accordance with the internal laws of the State of New York. The invalidity, illegality or unenforceability of any provision of this Amendment shall not affect or impair the validity, legality or
enforceability of the remainder of this Agreement, and to this end, the provisions of this Agreement are declared to be severable. 

5.3 Inurement. This agreement shall inure to the benefit of and shall be binding upon Maker and Holder and their respective
successors and permitted assigns. 
 5.4 Conflict. If any provision of this agreement is inconsistent or conflicts with any
provision of the Note, the relevant provision of this agreement shall prevail and be paramount. 
 5.5 Further Assurances.
Maker shall do, execute and deliver or shall cause to be done, executed and delivered all such further acts, documents and things as Holder may reasonably request for the purpose of giving effect to this agreement and to each and every provision
hereof. 
 5.6 Counterparts. This agreement may be executed in one or more counterparts, each of which shall be deemed to be an
original and all of which taken together shall be deemed to constitute one and the same instrument. 
 [The remainder of this page is
intentionally left blank.] 

  
 3 

 IN WITNESS WHEREOF, the parties hereto have executed and delivered this agreement on the
date first above written. 
  

			
	MAKER:
	
	Micromidas, Inc. (dba Origin Materials)
		
	By:	 	 /s/ John Bissell

	Name: John Bissell
	Its: President
	
	Origin Materials Canada Holding Limited
		
	By:	 	 /s/ John Bissell

	Name: John Bissell
	Its: President
	
	Origin Materials Canada Pioneer Limited
		
	By:	 	 /s/ John Bissell

	Name: John Bissell
	Its: President
	
	HOLDER:
	
	Danone Asia Pte Ltd
		
	By:	 	 /s/ Nicolas Grégoire

	Name: Nicolas Grégoire
	Its: Attorney-in-fact

 Origin – Third Amendment to First Amended and Restated Secured Promissory Note

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