Document:

ex10-1.htm

Exhibit 10.1

 

AMENDMENT NO. 6 TO THE CREDIT AGREEMENT 

 

AMENDMENT NO. 6, dated as of May 4, 2016 (this “Amendment”), by and among IMMUCOR, INC., a Georgia corporation (the “Borrower”), IVD INTERMEDIATE HOLDINGS B INC., a Delaware corporation (“Holdings”), the Subsidiary Guarantors, the Revolving Credit Lenders, and CITIBANK, N.A., as administrative agent (in such capacity, the “Administrative Agent”) under the Credit Agreement, dated as of August 19, 2011 (as amended by Amendment No. 1 on August 21, 2012, as further amended by Amendment No. 2 on the Amendment No. 2 Effective Date, as further amended by Amendment No. 3 and Amendment No. 4 on February 19, 2013, as further amended by Amendment No. 5 on December 9, 2015, and as further amended, restated, modified or supplemented from time to time, the “Credit Agreement”), among the Borrower, Holdings, Citibank, N.A., as administrative agent and as collateral agent under the Loan Documents, Swing Line Lender and L/C Issuer, each lender from time to time party thereto (collectively, the “Lenders” and individually, a “Lender”), and the other parties from time to time party thereto. Capitalized terms used and not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement.

 

WHEREAS, the Borrower desires to decrease the aggregate principal amount of the Revolving Credit Commitments on the terms set forth herein; 

 

WHEREAS, pursuant to Section 2.16 of the Credit Agreement, the Borrower desires to amend the Credit Agreement to establish Extended Revolving Credit Commitments (to amend the Revolving Credit Commitments existing immediately prior to the Amendment No. 6 Effective Date) under Extended Revolving Credit Facilities on the terms set forth herein and each Revolving Credit Lender has delivered a signature page hereto;

 

WHEREAS, pursuant to Section 10.01(g)(2) of the Credit Agreement, the Borrower desires to make certain other amendments to the Credit Agreement which directly affect the Revolving Credit Lenders on the terms set forth herein and each Revolving Credit Lender has delivered a signature page hereto; 

 

NOW, THEREFORE, in consideration of the premises and covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:

 

Section 1.     Amendments Relating to Revolving Credit Commitments. 

 

Effective as of the Amendment No. 6 Effective Date, the Credit Agreement is hereby amended as follows (it being understood and agreed that the amendments contained in Sections 1(b)(iii) through (1)(b)(vii), 1(b)(ix), 1(b)(xii), 1(e), 1(g) and 1(i) below will become effective immediately after the effectiveness of the remainder of the amendments in Section 1 below):

 

(a)     The Preamble of the Credit Agreement is hereby amended and restated by inserting the words “(as amended by Amendment No. 1 on August 21, 2012, as further amended by Amendment No. 2 on the Amendment No. 2 Effective Date, as further amended by Amendment No. 3 and Amendment No. 4 on February 19, 2013, as further amended by Amendment No. 5 on December 9, 2015, and as further amended by Amendment No. 6 on May 4, 2016),” following the words “August 19, 2011” in lieu of the parenthetical that follows such words. 

 

 

 

 

  

(b)     The following defined terms shall be added to Section 1.01 of the Credit Agreement in alphabetical order:

 

(i)     “Amendment No. 6” means Amendment No. 6 to this Agreement dated as of May 4, 2016. 

 

(ii)     “Amendment No. 6 Effective Date” means May 4, 2016, the date on which all conditions precedent set forth in Section 3 of Amendment No. 6 are satisfied.

 

(iii)    “Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution.

 

(iv)    “Bail-In Legislation” means with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule.

 

(v)     “EEA Financial Institution” means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.

 

(vi)    “EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein and Norway.

 

(vii)   “EEA Resolution Authority” means any public administrative authority or any person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.

 

(viii)   “Eligible Cash” shall mean funds of the Borrower and the Restricted Subsidiaries not constituting (a) proceeds of the issuance of (or contributions in respect of) Equity Interests of the Borrower, (b) proceeds of Indebtedness incurred by the Borrower or any of the Restricted Subsidiaries after the Amendment No. 6 Effective Date (other than the proceeds of Revolving Credit Loans or Swing Line Loans) or (c) proceeds of Dispositions and Casualty Events.

 

 

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(ix)     “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time.

 

(x)     “Material Indebtedness” means any Funded Debt (other than intercompany debt and the Revolving Credit Loans) with an aggregate principal amount in excess of $10,000,000, which, for the avoidance of doubt, shall include any Term Loan Extension Debt. 

 

(xi)     “Term Loan Extension Debt” means any Indebtedness incurred after the Amendment No. 6 Effective Date in the form of term loans, whether consisting of Other Term Loans, Extended Term Loans, Replacement Term Loans, term loans incurred pursuant to a Repricing Transaction, or otherwise, in each case which such Indebtedness (i) amends, extends, replaces, refinances, or with respect to which the application of the proceeds therefrom otherwise results in the prepayment of, the Term B-2 Loans outstanding as of the Amendment No. 6 Effective Date and (ii) has a maturity date occurring after August 19, 2018.

 

(xii)    “Write-Down and Conversion Powers” means with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule.

 

(c)     Clause (b) of the definition of “Adjusted Eurodollar Rate” in Section 1.01 of the Credit Agreement is hereby amended by inserting the following language at the end of such clause (b):

 

“, and, solely with respect to Revolving Credit Loans, 0.00% per annum”.

 

(d)     The definition of “Applicable Rate” in Section 1.01 of the Credit Agreement is hereby amended by inserting the following language at the end of such definition:

 

“; provided, further, that with respect to the Applicable Rate for Revolving Credit Loans, if in the case of term loans which constitute Term Loan Extension Debt, the interest rate margin (excluding, for the avoidance of doubt, the application of any index rate, including interest rate floors, or fees, including original issue discount, upfront fees or commitment fees) applicable to such Term Loan Extension Debt is greater than the appropriate Applicable Rate (excluding, for the avoidance of doubt, the application of any index rate, including interest rate floors, or fees, including original issue discount, upfront fees or commitment fees), payable pursuant to the terms of this Agreement as amended through the date of such calculation with respect to Revolving Credit Loans, the Applicable Rate with respect to the Revolving Credit Loans shall be increased from and after the date of the incurrence of the applicable Term Loan Extension Debt so as to cause such Applicable Rate to equal the interest rate margin then applicable to such Term Loan Extension Debt”. 

 

 

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(e)     Clause (iv) of the definition of “Defaulting Lender” in Section 1.01 of the Credit Agreement is hereby amended by (1) deleting the word “or” immediately preceding such clause (iv) and (2) replacing such clause (iv) in its entirety with the following: 

 

“(iv) a Lender Insolvency Event has occurred and is continuing with respect to such Lender or (v) in the case of a Revolving Credit Lender, such Revolving Credit Lender is the subject of a Bail-in Action”. 

 

(f)     Clause (i) of the definition of “Maturity Date” in Section 1.01 of the Credit Agreement is hereby amended by replacing such clause (i) in its entirety with the following:

 

“(i) with respect to each of the Revolving Credit Facilities, the earliest of (u) if the Maturity Date of any portion of the Term B-2 Loans outstanding on the Amendment No. 6 Effective Date has not been extended by May 19, 2018, to a date later than August 19, 2018, May 19, 2018, (v) February 19, 2020, (w) the date that is ninety (90) days prior to any applicable maturity date, occurring after October 19, 2018, with respect to any Material Indebtedness (including to the extent any such maturity date occurs prior to October 19, 2018 if such Material Indebtedness remains in payment default as of October 19, 2018), (x) if the Borrower incurs Incremental Loans, establishes Incremental Commitments or otherwise incurs Incremental Equivalent Debt pursuant to the capacity provided by subclause (x) of the third sentence of Section 2.14(a) of the Credit Agreement, whether through Section 2.14 of the Credit Agreement or through Section 7.03(r) of the Credit Agreement, the date of such incurrence or establishment, provided that if such incurrence or establishment occurs on or prior to August 19, 2017, the Maturity Date of the Revolving Credit Facility shall be August 20, 2017, (y) if (A) the Borrower incurs any Term Loan Extension Debt and in connection with such incurrence, either (X) all principal, interest, and other Obligations (other than contingent indemnification obligations not yet accrued and payable) owing in respect of the Term B-2 Loans outstanding as of the Amendment No. 6 Effective Date is not prepaid in full with the proceeds of such Term Loan Extension Debt or (Y) the Maturity Date in effect with respect to the entire aggregate principal amount of the Term B-2 Loans outstanding on the Amendment No. 6 Effective Date is not extended thereby (any portion of such Term B-2 Loans remaining outstanding with a Maturity Date of August 19, 2018, the “Stub Portion of Term Loan B-2 Debt”) and (B) the Borrower uses Eligible Cash to repay all or a portion of the Stub Portion of Term Loan B-2 Debt at a time when there are any outstanding Revolving Credit Loans or Swing Line Loans (any such use of Eligible Cash, an “Improper Use”), the date of such Improper Use, provided that if such Improper Use occurs on or prior to August 19, 2017, the Maturity Date of the Revolving Credit Facility shall be August 20, 2017, and (z) if (A) the Borrower incurs any Term Loan Extension Debt, (B) any negative covenant in the definitive documentation for such Term Loan Extension Debt is more restrictive to the Borrower and its Restricted Subsidiaries than the covenants in Article VII (other than the covenant in Section 7.05(j)(iii)) (except for any such negative covenant applicable only to periods after the Latest Maturity Date applicable to the Revolving Credit Commitments at the time such Term Loan Extension Debt is incurred), and (C) the Borrower has not offered to consent to an amendment to this Agreement (which such amendment shall not require a consent fee to be paid to any Lender signatory thereto) that would amend this Agreement, on or prior to the date such Term Loan Extension Debt is incurred, such that the covenants in Article VII (other than the covenant in Section 7.05(j)(iii)) that apply to the Revolving Credit Facilities are at least as restrictive as any such negative covenant in the definitive documentation for any such Term Loan Extension Debt, the date such Term Loan Extension Debt is incurred, provided that if such incurrence of Term Loan Extension Debt occurs on or prior to August 19, 2017, the Maturity Date of the Revolving Credit Facility shall be August 20, 2017,”. 

 

 

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(g)     Section 2.17(a)(i)(b) of the Credit Agreement is hereby amended by inserting the following language at the beginning of such Section 2.17(a)(i)(b):

 

“subject to Section 10.24,”. 

 

(h)     Section 7.13 of the Credit Agreement is hereby amended by inserting the following clause (c) at the end of such Section 7.13:

 

“(c)     If Term Loan Extension Debt is incurred by the Borrower, any financial maintenance covenant in the definitive documentation for such Term Loan Extension Debt shall be no more restrictive to the Borrower and its Restricted Subsidiaries than the covenant in Section 7.13(a) (except for any such financial maintenance covenant applicable only to periods after the Latest Maturity Date applicable to the Revolving Credit Commitments at the time such Term Loan Extension Debt is incurred), unless the Borrower has offered to consent to an amendment to this Agreement (which such amendment shall not require a consent fee to be paid to any Lender signatory thereto) that would amend this Agreement, on or prior to the date such Term Loan Extension Debt is incurred, so as to cause the covenant in Section 7.13(a) to be at least as restrictive as any such financial maintenance covenant in the definitive documentation for any such Term Loan Extension Debt.” 

 

(i)     Article X of the Credit Agreement is hereby amended by inserting the following Section 10.24 at the end of such Article X:

 

“Section 10.24. Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each Loan Party, Revolving Credit Lender, Swing Line Lender and L/C Issuer acknowledges that any liability of any Revolving Credit Lender, Swing Line Lender or L/C Issuer that is an EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:

 

(a)     the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any Revolving Credit Lender, Swing Line Lender or L/C Issuer that is an EEA Financial Institution; and

 

(b)     the effects of any Bail-in Action on any such liability, including, if applicable:

 

 

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(i)     a reduction in full or in part or cancellation of any such liability;

 

(ii)     a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or

 

(iii)     the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority.”

 

Section 2.     Representations and Warranties.

 

Each Loan Party represents and warrants to the Lenders as of the date hereof and the Amendment No. 6 Effective Date that:

 

(a)     Before and after giving effect to this Amendment, the representations and warranties of the Borrower and each other Loan Party contained in Article V of the Credit Agreement or any other Loan Document are true and correct in all material respects on and as of the Amendment No. 6 Effective Date as though made on and as of the Amendment No. 6 Effective Date; provided that, to the extent that such representations and warranties specifically refer to an earlier date, they shall be true and correct in all material respects as of such earlier date; provided, further, that, any representation and warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language shall be true and correct (after giving effect to any qualification therein) in all respects on such respective date. 

 

(b)     At the time of and after giving effect to this Amendment, no Default exists, or would result from this Amendment.

 

Section 3.     Conditions to Effectiveness.

 

This Amendment shall become effective on the date (the “Amendment No. 6 Effective Date”) on which each of the following conditions is satisfied:

 

(a)     The Administrative Agent’s receipt of counterparts of this Amendment executed by (1) each Loan Party, (2) the Administrative Agent, the L/C Issuer, and the Swing Line Lender, and (3) each Revolving Credit Lender, each of which shall be originals or facsimiles or electronic copies (followed promptly by originals) unless otherwise specified.

 

(b)     The Administrative Agent’s receipt of the following, each of which shall be originals or facsimiles or electronic copies (followed promptly by originals) unless otherwise specified;

 

(1)     an opinion of (i) Ropes & Gray LLP, New York counsel to the Loan Parties and (ii) Bryan Cave LLP, Georgia counsel to the Loan Parties, each dated the Amendment No. 6 Effective Date and addressed to the Administrative Agent and the Lenders, in a form reasonably satisfactory to the Administrative Agent; 

 

 

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(2)     (A) certificates of good standing (to the extent such concept exists in such Loan Party’s state of organization) certified as of a recent date by the secretary of state of the state of organization of each Loan Party, and (B) a certificate of a Responsible Officer of each Loan Party dated the Amendment No. 6 Effective Date and certifying (I) to the effect that (w) attached thereto is a true and complete copy of the certificate or articles of incorporation or organization of such Loan Party certified as of a recent date by the secretary of state of the state of its organization and that such certificate or articles are in full force and effect, or, with respect to each Loan Party other than the Borrower, in the alternative, certifying that such certificate or articles of incorporation or organization have not been amended or otherwise modified since (i) with respect to Holdings and Bioarray Solutions Ltd., March 22, 2013, (ii) with respect to Immucor GTI Diagnostics, Inc., Immucor Holdings, Inc., Immucor Transplant Diagnostics, Inc. and Immucor GTI Diagnostics Holding Company, April 26, 2013, and (iii) with respect to Sirona Genomics, Inc., April 12, 2016, and that such certificate or articles are in full force and effect, (x) attached thereto is a true and complete copy of the by-laws or operating agreements of each Loan Party as in effect on the Amendment No. 6 Effective Date, or, with respect to each Loan Party other than the Borrower, in the alternative, certifying that such by-laws or operating agreements have not been amended or otherwise modified since (i) with respect to Holdings and Bioarray Solutions Ltd., March 22, 2013, (ii) with respect to Immucor GTI Diagnostics, Inc., Immucor Holdings, Inc., Immucor Transplant Diagnostics, Inc. and Immucor GTI Diagnostics Holding Company, April 26, 2013, and (iii) with respect to Sirona Genomics, Inc., April 12, 2016 and (y) attached thereto is a true and complete copy of resolutions duly adopted by the board of directors or members, as applicable, of each Loan Party authorizing the execution, delivery and performance of this Amendment by such Loan Party, and that such resolutions have not been modified, rescinded or amended and are in full force and effect, and (II) as to the incumbency and specimen signature of each officer executing this Amendment on behalf of any Loan Party and signed by another officer as to the incumbency and specimen signature of the Responsible Officer executing the certificates pursuant to this clause (B); and

 

(3)     a certificate signed by a Responsible Officer of the Borrower certifying that (x) before and after giving effect to this Amendment, the representations and warranties of the Borrower and each other Loan Party contained in Article V of the Credit Agreement or any other Loan Document are true and correct in all material respects on and as of the Amendment No. 6 Effective Date as though made on and as of the Amendment No. 6 Effective Date; provided that, to the extent that such representations and warranties specifically refer to an earlier date, they shall be true and correct in all material respects as of such earlier date; provided, further, that, any representation and warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language shall be true and correct (after giving effect to any qualification therein) in all respects on such respective date and (y) at the time of and after giving effect to this Amendment, no Default exists, or would result from this Amendment.

 

 

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(c)     All fees and expenses due to the Administrative Agent and the Lenders (including, without limitation, pursuant to Section 5 hereof) required to be paid on or prior to the Amendment No. 6 Effective Date and invoiced at least two (2) Business Days prior to the Amendment No. 6 Effective Date shall have been paid. 

 

(d)     To the extent reasonably requested by a Revolving Credit Lender in writing not less than five (5) Business Days prior to the Amendment No. 6 Effective Date, the Administrative Agent shall have received, prior to the effectiveness of this Amendment, all documentation and other information with respect to the Borrower and the other Loan Parties required by regulatory authorities under applicable “know-your-customer” and anti-money laundering rules and regulations, including the PATRIOT Act. 

 

The Administrative Agent shall notify the Borrower and the Lenders of the Amendment No. 6 Effective Date and such notice shall be conclusive and binding.

 

Section 4.     Commitment Reduction; Agreement in Respect of Maturity Date

 

The Borrower hereby irrevocably requests, effective immediately on the Amendment No. 6 Effective Date, pursuant to Section 2.06(a) of the Credit Agreement, that the Dollar Revolving Credit Commitments and the Alternative Currency Revolving Credit Commitments be permanently reduced pursuant to the schedule set forth on Annex A hereto. Such reduction shall result in the Revolving Credit Commitments being held by each of the Revolving Credit Lenders (and their permitted assignees) as set forth on Annex A. The Administrative Agent hereby confirms this paragraph constitutes the notice required for such permanent reduction under Section 2.06(a) of the Credit Agreement.

 

The Revolving Credit Lenders (and their permitted assignees) hereby agree that they will agree to any amendment of the Credit Agreement which provides that clauses (i)(x), (i)(y) and (i)(z) of the definition of Maturity Date may be amended by a vote of the Required Facility Lenders under the Revolving Credit Facility to the extent requested by the Borrower.

 

Section 5.     Expenses.

 

The Borrower agrees to reimburse the Administrative Agent for its reasonable and documented out-of-pocket expenses incurred by it in connection with this Amendment, including the reasonable fees, charges and disbursements of Cahill Gordon & Reindel llp, counsel for the Administrative Agent. 

 

 

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Section 6.     Interest Period; Obligations.

 

For the avoidance of doubt, after giving effect to this Amendment, it is further acknowledged and agreed by the parties hereto that all outstanding Revolving Credit Loans on the Amendment No. 6 Effective Date will have the Type of Loan and Interest Period specified in the original Request for Credit Extension delivered in connection with such Revolving Credit Loans (notwithstanding the required periods set forth in the definition of Interest Period) and will constitute “Obligations” under the Credit Agreement and the other Loan Documents and shall have the same rights and obligations under the Credit Agreement and Loan Documents as the Revolving Credit Loans before giving effect to Amendment No. 6, except as expressly modified by Amendment No. 6.

 

Section 7.     Counterparts.

 

This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Amendment by facsimile transmission or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Amendment.

 

Section 8.     Governing Law and Waiver of Right to Trial by Jury.

 

THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. The jurisdiction and waiver of right to trial by jury provisions in Section 10.15 and 10.16 of the Credit Agreement are incorporated herein by reference mutatis mutandis. 

 

Section 9.     Headings.

 

The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.

 

Section 10.   Reaffirmation.

 

Each Loan Party hereby expressly acknowledges the terms of this Amendment and reaffirms, as of the date hereof, (i) the covenants and agreements contained in each Loan Document to which it is a party, including, in each case, such covenants and agreements as in effect immediately after giving effect to this Amendment and the transactions contemplated hereby and (ii) its guarantee of the Obligations under the Guaranty, as applicable, and its grant of Liens on the Collateral to secure the Obligations pursuant to the Collateral Documents.

 

 

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Section 11.   Effect of Amendment; References to the Credit Agreement.

 

Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the Agents under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other provision of the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect. All references to the Credit Agreement in any document, instrument, agreement, or writing shall from and after the Amendment No. 6 Effective Date be deemed to refer to the Credit Agreement as amended hereby, and, as used in the Credit Agreement, the terms “Agreement,” “herein,” “hereafter,” “hereunder,” “hereto” and words of similar import shall mean, from and after the Amendment No. 6 Effective Date, the Credit Agreement as amended hereby. For the avoidance of doubt, this Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents. 

 

Section 12.   Lender Signatures.

 

Each Lender that executes a signature page to this Amendment shall be deemed to have approved this Amendment. Each Lender signatory to this Amendment agrees that such Lender shall not be entitled to receive a copy of any other Lender’s signature page to this Amendment, but agrees that a copy of such signature page may be delivered to the Borrower and the Administrative Agent.

 

 

[Remainder of page left intentionally blank]

 

 

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

 

	
 
	
IVD INTERMEDIATE HOLDINGS B INC.,
	
 

	
 
	
as Holdings
	
 

	 	 	 	 
	
 
	
 
	
 
	
 

	
 
	
By: 
	
 
	
 

	
 
	
 
	
Name:
	
 

	
 
	
 
	
Title:
	
 

	 	 	 	 
	 	 	 	 
	 	IMMUCOR, INC., 	 
	 	as the Borrower	 
	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	 	 	 
	 	BIOARRAY SOLUTIONS LTD., 	 
	 	

as a Subsidiary Guarantor
	 
	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	 	 	 
	 	IMMUCOR GTI DIAGNOSTICS, INC., 	 
	 	as a Subsidiary Guarantor	 
	 	 	 	 
	 	 	 	 
	 	By: 	 	 
	 	 	Name:	 
	 	 	Title:	 

  

 

[SIGNATURE PAGE TO AMENDMENT NO. 6]

 

 

	 	IMMUCOR HOLDINGS, INC., 	 
	 	as a Subsidiary Guarantor	 
	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	 	 	 
	 	IMMUCOR TRANSPLANT DIAGNOSTICS, INC.,	 
	 	as a Subsidiary Guarantor	 
	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	 	 	 
	 	IMMUCOR GTI DIAGNOSTICS HOLDING COMPANY,	 
	 	as a Subsidiary Guarantor	 
	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	 	 	 
	 	SIRONA GENOMICS, INC., 	 
	 	as a Subsidiary Guarantor	 
	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

  

 

[SIGNATURE PAGE TO AMENDMENT NO. 6]

 

 

	 	CITIBANK, N.A., as Administrative Agent, L/C Issuer, and Swing Line Lender 	 
	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title: 	 
	 	 	 	 
	 	 	 	 
	 	CITIBANK, N.A., as a Revolving Credit Lender,	 
	 	 	 	 
	 	 	 	 
	 	By: 	 	 
	 	 	Name:	 
	 	 	Title: 	 
	 	 	 	 
	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., as a Revolving Credit Lender,	 
	 	 	 	 
	 	 	 	 
	 	By: 	 	 
	 	 	Name: 	 
	 	 	Title: 	 
	 	 	 	 
	 	 	 	 
	 	UBS AG, STAMFORD BRANCH, as a Revolving Credit Lender,	 
	 	 	 	 
	 	 	 	 
	 	By: 	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title: 	 

  

 

[SIGNATURE PAGE TO AMENDMENT NO. 6]

 

 

	 	DEUTSCHE BANK AG NEW YORK BRANCH, as a Revolving Credit Lender,	 
	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	 	Name: 	 
	 	 	Title:	 
	 	 	 	 
	 	 	 	 
	 	ROYAL BANK OF CANADA, as a Revolving Credit Lender,	 
	 	 	 	 
	 	 	 	 
	 	By: 	 	 
	 	 	Name:	 
	 	 	Title:	 

 

 

[SIGNATURE PAGE TO AMENDMENT NO. 6]

 

 

Annex A

 

Revolving Credit Commitments

 

(1) From the Amendment No. 6 Effective Date through August 18, 2018:

 

	
Lender
	
Dollar Revolving Credit 

Commitment
	
Alternative Currency

Revolving Credit 

Commitment

 

	 	
Citibank, N.A.
	 	
$10,000,000
	 	
$10,000,000
	 
	 	
JPMorgan Chase Bank, N.A.
	 	
$10,000,000
	 	
$10,000,000
	 
	 	
UBS AG, Stamford Branch
	 	
$10,000,000
	 	
$10,000,000
	 
	 	
Deutsche Bank AG New York Branch
	 	
$5,000,000
	 	
$5,000,000
	 
	 	
Royal Bank of Canada
	 	
$5,000,000
	 	
$5,000,000
	 
	 	
Total:
	 	
$40,000,000
	 	
$40,000,000
	 

 

 

(2) From August 19, 2018 through February 18, 2019:

 

	 	
Lender
	 	
Dollar Revolving Credit 

Commitment
	
Alternative Currency

Revolving Credit 

Commitment

 

	 	
Citibank, N.A.
	 	
$8,750,000
	 	
$8,750,000
	 
	 	
JPMorgan Chase Bank, N.A.
	 	
$8,750,000
	 	
$8,750,000
	 
	 	
UBS AG, Stamford Branch
	 	
$8,750,000
	 	
$8,750,000
	 
	 	
Deutsche Bank AG New York Branch
	 	
$4,375,000
	 	
$4,375,000
	 
	 	
Royal Bank of Canada
	 	
$4,375,000
	 	
$4,375,000
	 
	 	
Total:
	 	
$35,000,000
	 	
$35,000,000
	 

 

 

(3) From February 19, 2019 through August 18, 2019:

 

	 	
Lender
	 	
Dollar Revolving Credit 

Commitment
	
Alternative Currency

Revolving Credit 

Commitment

	 	
Citibank, N.A.
	 	
$7,500,000
	 	
$7,500,000
	 
	 	
JPMorgan Chase Bank, N.A.
	 	
$7,500,000
	 	
$7,500,000
	 
	 	
UBS AG, Stamford Branch
	 	
$7,500,000
	 	
$7,500,000
	 
	 	
Deutsche Bank AG New York Branch
	 	
$3,750,000
	 	
$3,750,000
	 
	 	
Royal Bank of Canada
	 	
$3,750,000
	 	
$3,750,000
	 
	 	
Total:
	 	
$30,000,000
	 	
$30,000,000
	 

   

 

Annex A-1

 

  

(4) From August 19, 2019 to February 19, 2020: 

 

	 	
Lender
	 	
Dollar Revolving Credit 

Commitment
	
Alternative Currency

Revolving Credit 

Commitment

 

	 	
Citibank, N.A.
	 	
$6,250,000
	 	
$6,250,000
	 
	 	
JPMorgan Chase Bank, N.A.
	 	
$6,250,000
	 	
$6,250,000
	 
	 	
UBS AG, Stamford Branch
	 	
$6,250,000
	 	
$6,250,000
	 
	 	
Deutsche Bank AG New York Branch
	 	
$3,125,000
	 	
$3,125,000
	 
	 	
Royal Bank of Canada
	 	
$3,125,000
	 	
$3,125,000
	 
	 	
Total:
	 	
$25,000,000
	 	
$25,000,000
	 

 

 

Annex A-2SEC Exhibit

IMMUNE DESIGN CORP. 
2014 OMNIBUS INCENTIVE PLAN
RESTRICTED STOCK UNIT AGREEMENT
Immune Design Corp., a Delaware corporation (the “Company”), hereby grants restricted stock units relating to the shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), to the Grantee named below.  Additional terms and conditions of the grant are set forth on this cover sheet and in the attached Restricted Stock Unit Agreement (together, this “Agreement”), and in the Company’s 2014 Omnibus Incentive Plan (as amended from time to time, the “Plan”).
Grantee Name: _________________________
Grant Date:  ___________________________
Number of Restricted Stock Units granted:  _______________
Vesting Start Date: ___________________
Vesting Schedule: 

By your signature below, you agree to all of the terms and conditions described in this Agreement and in the Plan, a copy of which will be provided on request. In connection with your receipt of the Restricted Stock Units, you are simultaneously entering into a trading arrangement that complies with the requirements of Rule 10b5-1(c)(1) under the Exchange Act (a “10b5-1 Plan”). As of the date of this Agreement, you are not aware of any material nonpublic information concerning the Company or its securities, or, as of the date any sales are effected pursuant to the 10b5-1 Plan, you will not effect such sales on the basis of material nonpublic information about the securities or the Company of which you were aware at the time you entered into this Agreement. You acknowledge that you have carefully reviewed the Plan and agree that the Plan will control in the event any provision of this or Agreement should appear to be inconsistent with the Plan.
	
					
	Grantee:
	 
	 
	Date:
	 

	 
	(Signature)
	 
	 
	 

	 
	 
	 
	 
	 

	Company:
	 
	 
	Date:
	 

	 
	(Signature)
	 
	 
	 

	Title:
	 
	 
	 
	 

Attachment
This is not a stock certificate or a negotiable instrument.

1

IMMUNE DESIGN CORP. 
2014 OMNIBUS INCENTIVE PLAN 
RESTRICTED STOCK UNIT AGREEMENT

	
			
	Restricted Stock Units
	 
	This Agreement evidences an award of restricted stock units in the number set forth on the cover sheet and subject to the vesting and other terms and conditions set forth in this Agreement and in the Plan (the “Restricted Stock Units”).

	Restricted Stock Units Transferability
	 
	Except to the extent the Plan, Applicable Law, and the Committee permit transfer to a Family Member, your Restricted Stock Units and your rights under this Agreement may not be sold, assigned, transferred, pledged, hypothecated, or otherwise encumbered, whether by operation of law or otherwise, nor may the Restricted Stock Units be made subject to execution, attachment, or similar process. If you attempt to do any of these things in contravention of the prior sentence, you will immediately forfeit your Restricted Stock Units.

	Vesting
	 
	Your Restricted Stock Units will vest in accordance with the Vesting Schedule set forth on the cover sheet of this Agreement, subject to your continued Service through each vesting date.

	Change in Control
	 
	Notwithstanding the Vesting Schedule set forth on the cover sheet, your Restricted Stock Units will accelerate if so provided in Section 17 of the Plan in the event of a Change in Control. For purposes of this Agreement, “Change in Control” will have the same meaning as defined in the Plan.

	Forfeiture of Unvested Restricted Stock Units
	 
	In the event that your Service terminates for any reason, you will forfeit to the Company all of the Common Stock subject to this grant that have not yet vested.

	Leaves of Absence
	 
	For purposes of these Restricted Stock Units, your Service does not terminate when you go on a bona fide employee leave of absence that the Company approves in writing if the terms of the leave provided for continued Service crediting or when continued Service crediting is required by Applicable Law or contract. Your Service terminates in any event when the approved leave ends unless you immediately return to active employment. The Company, in its sole discretion, determines which leave counts for this purposes and when your Service terminates for all purposes under the Plan.

	Delivery
	 
	In the event you become vested in all or a portion of the Restricted Stock Units under this Agreement, the Restricted Stock Units shall be settled by delivery of the Common Stock in respect of each Restricted Stock Unit as soon as administratively practicable following the date the Restricted Stock Units vest pursuant to the Vesting Schedule set forth on the cover sheet of this Agreement or pursuant to the accelerated vesting provisions under this Agreement, but in no event later than thirty (30) days after the applicable vesting date.

2

	
			
	Evidence of Issuance
	 
	The issuance of the Common Stock with respect to the Restricted Stock Units will be evidenced in such a manner as the Company, in its discretion, deems appropriate, including, without limitation, book-entry, registration, or issuance of one or more stock certificates.

	Withholding
	 
	In the event that the Company determines that any federal, state, local, or foreign tax or withholding payment (“Tax Related Items”) is required relating to this grant of Restricted Stock Units, the issuance of Common Stock with respect to this grant, or the payment of dividends, you instruct and authorize the Company and any broker-dealer that is a member of the Financial Industry Regulatory Authority (a “FINRA Dealer”) acceptable to the Company for such purpose to sell on your behalf a whole number of shares of Common Stock from the Common Stock to be delivered in connection with the Restricted Stock Units as the Company determines is appropriate to satisfy withholding obligations and whereby the FINRA Dealer irrevocably commits to forward the proceeds necessary to satisfy the withholding obligations directly to the Company.  Alternatively, the Company will have the right to (i) require you to tender a cash payment, (ii) deduct from payments of any kind otherwise due to you, or (iii) withhold the delivery of vested Common Stock otherwise deliverable under this Agreement to meet such obligations; provided that the Common Stock so withheld and/or sold in accordance with this provision will have an aggregate Fair Market Value not exceeding the minimum amount of tax required to be withheld by applicable law.
Regardless of any action the Company takes with respect to any or all Tax Related Items, you acknowledge that the ultimate liability for all Tax Related Items legally due by you is and remains your responsibility and that the Company: (a) makes no representations or undertakings regarding the treatment of any Tax Related Items in connection with any aspect of the Restricted Stock Units, including the award of the Restricted Stock Units, the vesting of the Restricted Stock Units, the issuance of shares of Common Stock in settlement of the Restricted Stock Units, the subsequent sale of shares acquired at vesting and the receipt of any dividends; and (b) does not commit to structure the terms of the award or any aspect of the Restricted Stock Units to reduce or eliminate your liability for Tax Related Items.
If the Company satisfies the obligation for Tax Related Items by withholding a number of shares of Common Stock as described above, you are deemed to have been issued the full number of shares subject to the award of Restricted Stock Units, notwithstanding that a number of the shares is held back solely for the purpose of paying the Tax Related Items due as a result of the vesting of the Restricted Stock Units.
The Company may refuse to deliver the shares of Common Stock to you if you fail to comply with your obligations in connection with the Tax Related Items as described in this subsection.

3

	
			
	Rule 10b5-1 Plan
	 
	You acknowledge that the instruction and authorization to the Company and FINRA Dealer to sell on your behalf in the foregoing “Withholding” section is intended to comply with the requirements of Rule 10b5-1(c)(1)(i)(B) under the Securities Exchange Act of 1934 (the “Exchange Act”), and to be interpreted to comply with the requirements of Rule 10b5-1(c)(1) under the Exchange Act (a “10b5-1 Plan”). You acknowledge that you are not aware of any material, nonpublic information with respect to the Company or any securities of the Company as of the date of this Agreement, or that as of the date any sales are effected pursuant to the 10b5-1 Plan you will not effect such sales on the basis of material nonpublic information about the securities or the Company of which you were aware at the time you entered into this Agreement. This 10b5-1 Plan is adopted to be effective as of the first date on which the Restricted Stock Units vest. This 10b5-1 Plan is being adopted to permit the sale of a whole number of shares awarded upon the vesting of Restricted Stock Units sufficient to generate cash proceeds to pay withholding taxes that become due as a result of this award or the vesting of the Restricted Stock Units. You hereby authorize the FINRA Dealer to sell the number of shares of Common Stock determined as set forth above and acknowledge that the FINRA Dealer is under no obligation to arrange for such sale at any particular price. You hereby appoint the Company as your agent and attorney-in-fact to instruct the FINRA Dealer with respect to the number of shares to be sold under this 10b5-1 Plan. You acknowledge that you will be responsible for all brokerage fees and other costs of sale, and you agree to indemnify and hold the Company harmless from any losses, costs, damages, or expenses relating to any such sale. You acknowledge that it may not be possible to sell Common Stock during the term of this 10b5-1 Plan due to (a) a legal or contractual restriction applicable to you or to the FINRA Dealer, (b) a market disruption, (c) rules governing order execution priority on the NASDAQ Global Market, (d) a sale effected pursuant to this 10b5-1 Plan that fails to comply (or in the reasonable opinion of the FINRA Dealer’s counsel is likely not to comply) with Rule 144 under the Securities Act of 1933, or (e) if the Company determines that sales may not be effected under this 10b5-1 Plan. You acknowledge that this 10b5-1 Plan is subject to the terms of any policy adopted now or hereafter by the Company governing the adoption of 10b5-1 plans.

	Retention Rights
	 
	This Agreement and the grant of the Restricted Stock Units do not give you the right to be retained by the Company or any Affiliate in any capacity. Unless otherwise specified in any employment or other written agreement between you and the Company or any Affiliate, the Company and any Affiliate reserve the right to terminate your Service at any time and for any reason.

4

	
			
	Stockholder Rights
	 
	You have no rights as a stockholder of the Company with respect to the Restricted Stock Units unless and until the Common Stock relating to the Restricted Stock Units have been issued and either a certificate evidencing the Common Stock has been issued or an appropriate entry has been made on the Company’s books.
Notwithstanding the foregoing, if the Company declares a cash dividend on the Company’s outstanding Common Stock, you shall receive an amount of cash equal to the number of unvested Restricted Stock Units you hold under this Agreement as of the dividend record date, multiplied by the amount of the cash dividend per Common Stock, as soon as administratively practical following the declaration of such cash dividend, but in no event later than thirty (30) days after such cash dividend is declared.
The Restricted Stock Units will be subject to the terms of any applicable agreement of merger, liquidation, or reorganization in the event that the Company is subject to such corporate activity. 

	Clawback
	 
	The Restricted Stock Units are subject to mandatory repayment by you to the Company to the extent you are, or in the future become, subject to (i) any Company “clawback” or recoupment policy that is adopted to comply with the requirements of any applicable law, rule, or regulation, or (ii) any law, rule, or regulation which imposes mandatory recoupment, under the circumstances set forth in any such law, rule, or regulation.  Furthermore, the Restricted Stock Units are subject to mandatory repayment by you to the Company if, as of the Grant Date, the Company has in place a “clawback” or recoupment policy that requires the repayment by you to the Company of compensation paid by the Company to you in the event that you fail to comply with, or violate, the terms or requirements of such policy.

	Applicable Law
	 
	The validity and construction of this Agreement will be governed by, and construed and interpreted in accordance with, the laws of the State of Delaware, other than any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Agreement to the substantive laws of any other jurisdiction.

	The Plan
	 
	The text of the Plan is incorporated into this Agreement. 
Certain capitalized terms used in this Agreement are defined in the Plan and have the meaning set forth in the Plan. 
This Agreement and the Plan constitute the entire understanding between you and the Company regarding the Restricted Stock Units. Any prior agreements, commitments, or negotiations concerning the Restricted Stock Units are hereby superseded; except that any written employment, consulting, confidentiality, non-competition, non-solicitation, and/or severance agreement or any other written agreement between you and the Company or any Affiliate, as applicable, will govern and supersede this Agreement with respect to its subject matter. 

5

	
			
	Data Privacy
	 
	To administer the Plan, the Company may process personal data about you. This data includes, without limitation, information provided in this Agreement and any changes to such information, other appropriate personal and financial data about you, including your contact information, payroll information, and any other information that the Company deems appropriate to facilitate the administration of the Plan. 
By accepting this grant, you give explicit consent to the Company to process any such personal data. 

	Disclaimer of Rights
	 
	The grant of Restricted Stock Units under this Agreement will in no way be interpreted to require the Company to transfer any amounts to a third party trustee or otherwise hold any amounts in trust or escrow for payment to you. You will have no rights under this Agreement or the Plan other than those of a general unsecured creditor of the Company. Restricted Stock Units represent unfunded and unsecured obligations of the Company, subject to the terms and conditions of the Plan and this Agreement.

	Code Section 409A
	 
	The grant of Restricted Stock Units under this Agreement is intended to comply with Code Section 409A to the extent subject thereto, and, accordingly, to the maximum extent permitted, this Agreement will be interpreted and administered to be in compliance with Code Section 409A. Notwithstanding anything to the contrary in this Agreement, neither the Company, any Affiliate, the Board, nor the Committee will have any obligation to take any action to prevent the assessment of any excise tax or penalty on you under Code Section 409A, and neither the Company, any Affiliate, the Board, nor the Committee will have any liability to you for such tax or penalty.

By signing this Agreement, you agree to all of the terms and conditions described above and in the Plan.

6

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