Document:

Exhibit

Exhibit 10.04

LOAN AGREEMENT 
THIS LOAN AGREEMENT, is made and entered into, as of July 29, 2019 by and between Nikko Chemicals Co., Ltd., a Japanese corporation (“Lender”), and Amyris, Inc., a Delaware corporation (“Borrower”).

WITNESSETH:
WHEREAS, Borrower, Lender and Lender’s affiliate are the parties to a Joint Venture Agreement dated December 12, 2016 (the “JV Agreement”) with respect to Aprinnova, LLC (formerly, Neossance, LLC);
WHEREAS, Borrower previously borrowed US$3,900,000.00 and provided a purchase money promissory note to Lender, and Borrower granted to Lender a first-priority security interest as to 10.0% of Aprinnova, LLC’s shares;
WHEREAS, Borrower additionally requested that Lender extend to Borrower loan(s) in an aggregate principal amount of US$5,000,000.00 and agreed to grant to Lender a first-priority security interest as to an additional 12.8% of Aprinnova, LLC’s shares; and
WHEREAS, Lender is willing to make the loan described herein to Borrower on the terms and conditions set forth herein.
NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, the parties hereby agree as follows:
SECTION 1.    LOAN
(1)     Subject to the terms and conditions of this Agreement, Lender shall make loan(s) to Borrower in the total principal amount of Five Million United States Dollars (the “Loan”) in two installments:

(a)     Loan A:    A loan of $3,000,000.00 will be made to Borrower by Lender upon satisfaction of all of the following:

		
	(i)
	Borrower and CEO of Aprinnova execute a supply agreement described in Section 5.1 of the JV Agreement (“Supply Agreement”) which Mr. Shizuo Ukaji as a representative of Aprinnova, LLC previously executed;

		
	(ii)
	Borrower grants to Lender a first-priority security interest as to 12.8% of Aprinnova, LLC’s shares, and Lender completes the UCC financial statement covering such security interest;

		
	(iii)
	Borrower commits: (X) to transfer Leland employees to Aprinnova, LLC, (Y) to provide, to Borrower and/or its designee, all benefit and other information necessary for Leland employees to join a third-party administrator, and (Z) to commence the preparation of such procedures immediately after the execution of this Agreement; and 

		
	(iv)
	Borrower shall discuss with Lender and shall do its best to find a solution

to keep Aprinnova LLC’s accounts to be consolidated with Borrower’s accounts even after the transfer of Leland employees to Aprinnova, LLC.

For clarification, in order for the Loan A to be made, Borrower shall make its strenuous and best efforts to find the solution described in item (a)(iv) above but shall not be required to transfer Leland employees to Aprinnova, LLC if it is not possible to find such solution.

(b)     Loan B:        A loan of $2,000,000.00 will be made to Borrower by Lender upon satisfaction of all of the following:

		
	(i)
	Borrower provides, to Borrower and/or its designee, all benefit and other information necessary for Leland employees to join a third-party administrator; and

		
	(ii)
	Borrower executes an Escrow Agreement described in Section 1.5 of the JV Agreement.

(2)    Each Loan described above shall be made to the following bank account:

             Bank:
Branch:    
Address:        
    
Account Number:
Account Name:    
Swift Code:

(3)    Notwithstanding anything to the contrary in this Agreement, this Agreement shall become null and void in its entirety and any obligations on the part of Lender under this Agreement shall cease to exist if there exists any security interest as to Aprinnova, LLC’s shares.    

SECTION 2.    INTEREST
(1)     Borrower shall pay to Lender interest(s) on the principal amount of each of the Loans (the “Principal”) at the rate of 5 percent per annum from and including the applicable date of Loan to and including December 18, 2020 (the “Interest”).

(2)    Any outstanding principal of, or accrued interest on, the Loan that is not paid when due shall bear interest from and including such due date to and excluding the date of payment (both before and after judgement) in full thereof, at the additional rate of 5 per cent per annum (“Default Interest”). Interest (including Default Interest) shall be calculated for the actual number of days elapsed on the basis of a 360 day year.
SECTION 3.    PAYMENT
(1)     Borrower shall repay the Principal in full on December 18, 2020 and shall pay all of the Interest on the date of Loan. Lender may at any time apply any sum payable from Lender to Borrower (including without limitation the Principal) in or towards satisfaction of any sum then payable from Borrower to Lender (including without limitation the Interest).
SECTION 4.    SECURITY INTEREST
To secure prompt payment in full when due (whether at stated maturity, by acceleration or otherwise) and performance of Borrower’ obligation hereunder, Borrower hereby pledges and grants to Lender a first-priority security interest in and to all of Borrower’s right, title and interest in, to and under twelve point eight (12.8) percent of Aprinnova LLC’s shares (i.e., membership interests of Aprinnova, LLC) (the “Pledged Shares”). Borrower hereby agrees that it will not sell, assign, encumber or otherwise transfer or dispose of such shares, except as expressly permitted by the LLC Operating Agreement. Borrower irrevocably appoints Lender as its true and lawful attorney-in-fact of Borrower to make, execute and file UCC financing statement to secure Lender’s security interest in and to 12.8% of Aprinnova LLC’s shares described above. 
In the event of default by Borrower under this Agreement, the Pledges Shares shall be transferred to Lender so that Lender’ shareholding percentage will increase by twelve point eight (12.8) percent, regardless of the amount repaid by Borrower under this Agreement on or prior to such default.
SECTION 5.    COVENANTS
(1)     Borrower hereby covenants that so long as any indebtedness of Borrower under this Agreement remains outstanding an unpaid, Borrower shall promptly give notice in writing to Lender of (a) the occurrence of any Event of Default under this Agreement or any other material agreement of Borrower and (b) any litigation, preceding, investigation or dispute which may exist at any time between Borrower and any third party which might substantially interfere with the normal business activity of Borrower or the performance of any obligation under this Agreement.
(2)     Borrower hereby covenants that so long as any indebtedness of Borrower under this Agreement remains outstanding an unpaid, Borrower shall not, unless otherwise consented to in writing by Lender, enter into any transaction or merger or consolidation or amalgamation, or liquidate, wind up or dissolve itself (or initiate any liquidation or dissolution), or take any action, legal proceeding or step in relation to the appointment of an examiner or receiver to Borrower or any of its assets, or convey, sell, lease, transfer, mortgage, pledge, lien or otherwise dispose of, in one transaction or a series of transactions, all or substantially all of its business, property or assets. 
(3)    Borrower hereby covenants that so long as any indebtedness of Borrower under this Agreement remains outstanding an unpaid, Borrower shall permit Lender (a) to inspect any of the properties, corporate books and financial records of Borrower, (b) to examine and make copies of the books of accounts and other financial records of Borrower, and (c) to discuss the affairs, financings and accounts of Borrower with, and to be advised as to the same by, its officers at such reasonable times and intervals as Lender may designate.
SECTION 6.    EVENTS OF DEFAULT
If any of the Event of Default (as hereinafter defined) occurs, then the principle amount of the Loan (as well as any interest accrued thereon) shall be immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly 

waived, anything contained herein to the contrary notwithstanding.   For the purpose of this Agreement, the Event of Defaults shall be deemed to have occurred: 
		
	(a)
	If borrower fails to pay the principle of an interest on the Loan when due;

		
	(b)
	if any representation, warranty or covenant made by Borrower under this Agreement, or any other agreement(s) made with Lender, shall prove to have been untrue or misleading in any material respect when made; or 

		
	(c)
	if Borrower files a petition in bankruptcy or for liquidation or reorganization or for the appointment of an examiner or receiver to Borrower or any of its assets or other similar petition, makes an assignment for the benefit of creditors, consents to the appointment of a receiver, trustee or other custodian for all or a substantial part of its property, is adjudicated at bankrupt, or fails to cause to be vacated, set aside or stayed within 60 days of any court order appointing a receiver, trustee or other custodian for all or a substantial part of its property or ordering relief against it in any involuntary case of bankruptcy.

SECTION 7.    INDEMNIFICATION
Borrower agrees to indemnify lender from and against any and all claims, losses and liabilities arising out of or resulting from the occurrence of any event or default (including, but not limited to, the costs for the enforcement hereof). Borrower further agrees to pay all reasonable expenses of Lender, including, without limitation, the fees and expenses of its counsel, incurred in connection with (a) the enforcement of any part of this Agreement, and any waiver or amendment of any provision hereof (b) the administration of this Agreement after the occurrence of any Event of Default or (c) the failure by Borrower to perform or observe any of the provisions of this Agreement. 
SECTION 8.    WAIVERS
No single or partial waiver by Lender of any Event of Default, right or remedy which it may have shall operate as a waiver of any other Event of Default, right or remedy or of the same Event of Default, right or remedy on a future occasion. Borrower hereby waives presentment, notice of dishonor and protest and all other notices and demands whatsoever, except as a specifically provided in this Agreement.
SECTION 9.    AMENDMENT
No amendment, modification or waiver of any provision of this Agreement, nor consent to any departure by borrower herefrom, shall in any event be effective unless the same shall be in writing and signed by Lender and shall otherwise be made in accordance with the provisions hereof, and then such amendment, waiver or consent shall be effective only in the specific instance and the specific purpose for which given.
SECTION 10.    SURVIVAL
All agreements, representations in warranties made herein an in any certificates delivered pursuant hereto shall survive the execution and delivery of this Agreement and 

shall continue in full force and effect until the indebtedness of Borrower under this Agreement has been paid in full. 
SECTION 11.    ASSIGNMENT
This Agreement shall be binding upon and inure to the benefit of Borrower and Lender and their respective permitted successors and assigns; provided, however, that Borrower may not transfer or assign any of its rights or obligations hereunder without the prior written consent of Lender. 
SECTION 12.    NOTICE
All notices under this Agreement shall be sent by registered mail or nationally recognized overnight courier, in each case, with confirmation of receipt, and shall be deemed to have been sent on the date of receipt or on the date of mailing if preceded by transmission of the text of such notice by facsimile (with confirmation of transmission) to the number or by e-mail to the e-mail address given by each Party in writing. 
SECTION 13.    GOVERNING LAW AND JURISDICTION
This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware. 

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement as of the date first above written. 
	
				
	 NIKKO CHEMICALS CO., LTD.
	 

	 
 By: /s/ Shizuo Ukaji___________________
	 

	 Name: Shizuo Ukaji
	 

	 Title: President & Chief Executive Officer
	 

	 
	 

	 
	 

	 
AMYRIS, INC.
	 

	By:
	 
	 
_/s/ John Melo_________________
	 

	Name:
	 
	John Melo
	 

	Title:
	 
	President & Chief Executive OfficerExhibit

Exhibit 10.07

EXECUTION VERSION

CREDIT AGREEMENT 
This CREDIT AGREEMENT, dated as of August 28, 2019 (as amended, modified or supplemented from time to time, this “Agreement”), is entered into by and between AMYRIS, INC., a Delaware corporation (the “Company”), and FORIS VENTURES, LLC, a Delaware limited liability company (the “Lender”).

RECITALS
    A.  Subject to the terms and conditions hereof, the Lender has agreed to purchase from the Company, and the Company has agreed to sell to the Lender, an unsecured promissory note (the “Note”) in the form attached hereto as Exhibit A having an aggregate principal amount of Nineteen Million Dollars ($19,000,000). 
AGREEMENT 
    NOW THEREFORE, in consideration of the representations, warranties, and conditions set forth below, the parties hereto, intending to be legally bound, hereby agree as follows: 
    1.  Purchase and Sale of the Note.  The sale and purchase of the Note (the “Closing”) shall take place at such place and time as the Company and the Lender may determine, but in no event later than August 30, 2019. At the Closing, the Company will deliver to the Lender the Note, against receipt by the Company of Nineteen Million Dollars ($19,000,000) in immediately available funds. The Note will be registered in the Lender’s name in the Company’s records. 

   2.  Representations and Warranties of the Company.  The Company represents and warrants to the Lender as of the date hereof and as of the Closing that: 

		
	(a)
	Due Incorporation, Qualification, etc.  The Company (i) is a corporation duly organized, validly existing and in good standing under the laws of Delaware; (ii) has the power and authority to own, lease and operate its properties and carry on its business as now conducted; and (iii) is duly qualified, licensed to do business and in good standing as a foreign corporation in each jurisdiction where the failure to be so qualified or licensed could reasonably be expected to have a Material Adverse Effect.

		
	(b)
	Authority.  The execution, delivery and performance by the Company of this Agreement and the Note and the consummation by the Company of the transactions contemplated hereby and thereby have been duly authorized by all necessary corporate actions on the part of the Company. 

		
	(c)
	Enforceability.  This Agreement and the Note have been duly executed and delivered by the Company and constitute a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its respective terms, except in each case as may be limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors’ rights generally and general principles of equity. 

		
	(d)
	Non-Contravention.  The execution and delivery by the Company of this Agreement and the Note and the performance and consummation by the Company of the transactions contemplated hereby and thereby do not and will not (i) violate the certificate of incorporation or bylaws of the Company or any judgment, order, writ, decree, statute, rule or regulation applicable to the Company; (ii) violate any provision of, or result in the breach or the acceleration of, or entitle any other Person to accelerate (whether after the giving of notice or lapse of time or both), any mortgage, indenture, agreement, instrument or contract to which the Company is a party or by which it is bound except to the extent such violation, breach or acceleration could not reasonably be expected to result in a Material Adverse Effect; or (iii) result in the creation or imposition of any lien upon any property, asset or revenue of the Company or the suspension, revocation, impairment, forfeiture, or nonrenewal of any permit, license, authorization or approval applicable to the Company, its business or operations, or any of its assets or properties except to the extent such suspension, revocation, impairment, forfeiture or nonrenewal could not reasonably be expected to have a Material Adverse Effect. The Company is not in breach of any mortgage, indenture, agreement, instrument or contract to which the Company is a party or by which it is bound except to the extent such breach could not reasonably be expected to result in a Material Adverse Effect.

		
	(e)
	Approvals.  No consent, approval, order or authorization of, or registration, declaration or filing with, any governmental authority or other Person is required in connection with the execution and delivery by the Company of this Agreement and the Note and the performance and consummation by the Company of the transactions contemplated hereby and thereby, except for those already obtained or those that will be obtained prior to the Closing. 

		
	(f)
	Tax Returns and Payments.  The Company has timely filed all required tax returns and reports, and the Company has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by the Company except to the extent such taxes are being contested in good faith by appropriate proceedings promptly instituted and diligently conducted, so long as such reserve or other appropriate provision, if any, as shall be required in conformity with GAAP shall have been made therefor.

		
	(g)
	Litigation.  There are no actions or proceedings pending or threatened in writing by or against the Company except for such actions or proceedings that, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect.

		
	(h)
	Full Disclosure.  No written representation, warranty or other statement of the Company in any certificate or written statement given to Lender by the Company in connection with this Agreement or the Note, as of the date such representation, warranty, or other statement was made, contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements contained in the certificates or written statements not misleading in light of the circumstances under which they were made.

   3.  Representations and Warranties of the Lender.  The Lender represents and warrants to the Company as of the date hereof and as of the Closing that: 
		
	(a)
	Due Incorporation, Qualification, etc.  The Lender (i) is a limited liability company duly organized, validly existing and in good standing under the laws of Delaware; and (ii) has all requisite power to execute and deliver this Agreement and to carry out and perform its obligations under the terms of this Agreement.

		
	(b)
	Authority.  The execution, delivery and performance by the Lender of this Agreement and the consummation by the Company of the transactions contemplated hereby have been duly authorized by all necessary corporate actions on the part of the Lender. 

		
	(c)
	Enforceability.  The Lender has full legal capacity, power and authority to execute and deliver this Agreement and to perform its obligations hereunder. This Agreement is a valid and binding obligation of the Lender, enforceable in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors’ rights generally and general principles of equity. 

		
	(d)
	Securities Law Compliance.   The Lender is purchasing the Note for its own account for investment, not as a nominee or agent, and not with a view to, or for resale in connection with, the distribution thereof. Lender has received or has had full access to all of the information necessary and appropriate to make an informed investment decision. The Lender is an accredited investor as such term is defined in Rule 501 of Regulation D under the Securities Act of 1933, as amended. The Lender acknowledges that it can bear the economic risk of the investment the Note.

		
	(e)
	Approvals. No consent, approval, order or authorization of, or registration, declaration or filing with, any governmental authority or other Person is required in connection with the execution and delivery by the Lender of this Agreement and the performance and consummation by the Lender of the transactions contemplated hereby, except for those already obtained.

		
	(f)
	Non-Contravention.  The execution and delivery by the Lender of this Agreement and the performance and consummation by the Lender of the transactions contemplated hereby do not and will not (i) violate the organizational documents of the Lender or any judgment, order, writ, decree, statute, rule or regulation applicable to the Lender; or (ii) violate any agreement to which the Lender is a party or by which it is bound. 

    4.  Conditions to Obligations of the Lender.  The Lender’s obligations hereunder are subject to the fulfillment, on or prior to the Closing, of all of the following conditions, any of which may be waived in whole or in part by the Lender: 
		
	(a)
	Representations and Warranties.  The representations and warranties made by the Company in Section 2 hereof shall have been true and correct when made, and shall be true and correct as of the Closing. 

		
	(b)
	Governmental Approvals and Filings.  The Company shall have obtained all governmental approvals required in connection with the sale and issuance of the Note. 

		
	(c)
	Legal Requirements.  At the Closing, the sale and issuance by the Company, and the purchase by the Lender, of the Note shall be legally permitted by all laws and regulations to which the Lender or the Company is subject. 

		
	(d)
	Transaction Documents.  The Company shall have duly executed and delivered to the Lender this Agreement, the Note and the Warrant.

		
	(e)
	Material Adverse Effect. No event shall have occurred that could reasonably be expected to result in a Material Adverse Effect.

 
    5.  Conditions to Obligations of the Company.  The Company’s obligations hereunder are subject to the fulfillment, on or prior to the Closing, of all of the following conditions, any of which may be waived in whole or in part by the Company: 
		
	(a)
	Representations and Warranties.  The representations and warranties made by the Lender in Section 3 hereof shall be true and correct when made, and shall be true and correct as of the Closing. 

		
	(b)
	Governmental Approvals and Filings.  The Lender shall have obtained all governmental approvals required in connection with the sale and issuance of the Note. 

		
	(c)
	Legal Requirements.  At the Closing, the sale and issuance by the Company, and the purchase by the Lender, of the Note shall be legally permitted by all laws and regulations to which the Lender or the Company are subject. 

		
	(d)
	Purchase Price.  The Lender shall have delivered to the Company Nineteen Million Dollars ($19,000,000) in immediately available funds.

    6.   Definitions.  As used in this Agreement, the following capitalized terms have the following meanings: 
“Material Adverse Effect” means a material adverse effect, individually or in the aggregate, upon the business, properties, tangible and intangible assets, liabilities, operations, prospects, financial condition or results of operation of the Company or the ability of the Company to perform its obligations under this Agreement. 
“Obligations” means all loans, advances, debts, liabilities and obligations, howsoever arising, owed by the Company to the Lender under the Note of every kind and description (whether or not evidenced by any note or instrument and whether or not for the payment of money), now existing or hereafter arising under or pursuant to the terms of the Note, including all principal, interest, fees, charges, expenses, attorneys’ fees and costs and accountants’ fees and costs chargeable to and payable by the Company thereunder, in each case, whether direct or indirect, absolute or contingent, due or to become due, and whether or not arising after the commencement of a proceeding under Title 11 of the United States Code (11 U.S.C. Section 101 et seq.), as amended from time to time (including post-petition interest) and whether or not allowed or allowable as a claim in any such proceeding.
“Person” shall mean and include an individual, a partnership, a corporation (including a business trust), a joint stock company, a limited liability company, an unincorporated association, a joint venture or other entity or a governmental authority.
“Warrant” means a Common Stock Purchase Warrant for the purchase of up to 4,871,795 Warrant Shares (as such term is defined in the Warrant).
    7.  Miscellaneous.  
		
	(a)
	Waivers and Amendments.  Any provision of this Agreement may be amended, waived or modified only upon the written consent of the Company and the Lender. 

		
	(b)
	Governing Law.  This Agreement and all actions arising out of or in connection with this Agreement shall be governed by and construed in accordance with the laws of the State of California, without regard to the conflicts of law provisions of the State of California.

		
	(c)
	Survival.  The representations, warranties, covenants and agreements made herein shall survive the execution and delivery of this Agreement. 

		
	(d)
	Successors and Assigns.  Subject to the restrictions on transfer described in Section 7(e) below, the rights and obligations of the Company and the Lender hereunder and under the Note shall be binding upon and inure to the benefit of the successors, assigns, heirs, administrators and transferees of the parties. 

		
	(e)
	Assignment by the Company; Assignment by the Lender.  Neither this Agreement nor the Note nor any of the rights, interests or obligations hereunder or thereunder may be assigned, by operation of law or otherwise, in whole or in part, by the Company without the prior written consent of the Lender. The Lender will not assign, by operation of law or otherwise, this Agreement or the Note or any of its rights, interests or obligations hereunder or thereunder without the prior written consent of the Company.

		
	(f)
	Entire Agreement.  This Agreement and the Note constitute the full and entire understanding and agreement between the parties relating to the subject matter hereof and thereof and supersede any previous written or verbal agreements between the parties with regard to the subject matter hereof and thereof. 

		
	(g)
	Notices.  Any notice, request or other communication required or permitted hereunder shall be in writing and shall be deemed to have been duly given if delivered personally or by commercial delivery service, or sent via telecopy (receipt confirmed) to the parties at the following addresses or telecopy numbers (or at such other address or telecopy numbers for a party as shall be specified by like notice): 

If to the Company, to: 
Amyris, Inc. 
5885 Hollis St., Ste. 100  
Emeryville, CA 94608 
Attention: General Counsel     
If to the Lender, to: 
Foris Ventures, LLC
Attention: 

		
	(h)
	Severability of this Agreement.  If any provision of this Agreement shall be judicially determined to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

		
	(i)
	Counterparts.  This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall be deemed to constitute one instrument. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers as of the date and year first written above. 
	
					
	 
	 
	

COMPANY:

	 
	 
	 
AMYRIS, INC.

	 
	 
	By:
	 
	/s/ Kathleen Valiasek

	 
	 
	Name:
	 
	Kathleen Valiasek

	 
	 
	Title:
	 
	Chief Business Officer

	 
	 
	LENDER:

	 
	 
	FORIS VENTURES, LLC

	 
	 
	By:
	 
	/s/ Barbara Hager

	 
	 
	Name:
	 
	Barbara Hager_____________

	 
	 
	Title:
	 
	_________________________

1

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