Document:

Exhibit

Exhibit 10.6

FIRST AMENDMENT TO
LOAN AND SECURITY AGREEMENT
(Term Loan)
THIS FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Amendment”) is entered into this 27th day of September, 2018, by and between SILICON VALLEY BANK, a California corporation (“Bank”), and BEYOND MEAT, INC. (formerly known as Savage River, Inc.), a Delaware corporation (“Borrower”).
RECITALS
A.    Bank and Borrower have entered into that certain Loan and Security Agreement (Term Loan) dated as of June 27, 2018 (as the same may from time to time be amended, modified, supplemented or restated, the “Loan Agreement”).
B.    Bank has extended credit to Borrower for the purposes permitted in the Loan Agreement.
C.    Borrower has requested that Bank amend the Loan Agreement to permit the Borrower to draw the Tranche Three Term Loan Advance prior to completion of the Tranche Three Milestone requirement.
D.    Bank has agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing recitals and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:
1.    Definitions. Capitalized terms used but not defined in this Amendment, including its preamble and recitals, shall have the meanings given to them in the Loan Agreement.
2.    Amendments to Loan Agreement.
2.1    Section 2.2(a) (Availability).  Section 2.2(a) of the Loan Agreement is hereby amended by deleting subclause (iii) thereof in its entirety and replacing it with the following:
(iii)   the third (3rd) tranche shall be funded to Borrower on or about September 28, 2018 in a single Term Loan Advance in a principal amount of Five Million Dollars ($5,000,000) (“Tranche Three Term Loan Advance”).
3.    Limitation of Amendments.
3.1    The amendments set forth in Section 2, above, are effective for the purposes set forth herein and shall be limited precisely as written and shall not be deemed to (a) be a consent to any 

amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have or may have in the future under or in connection with any Loan Document.
3.2    This Amendment shall be construed in connection with and as part of the Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect.
3.3    In addition to those Events of Default specifically enumerated in the Loan Documents, the failure to comply with the terms of any covenant or agreement contained herein shall constitute an Event of Default, and shall entitle Bank to exercise all rights and remedies provided to Bank under the terms of any of the other Loan Documents as a result of the occurrence of the same.
4.    Representations and Warranties. To induce Bank to enter into this Amendment, Borrower hereby represents and warrants to Bank as follows:
4.1    Immediately after giving effect to this Amendment (a) the representations and warranties contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct in all material respects as of such date), and (b) no Event of Default, has occurred and is continuing;
4.2    Borrower has the power and authority to execute and deliver this Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment;
4.3    The organizational documents of Borrower delivered to Bank on the Effective Date and amended by any updates thereto delivered to Bank on the First Amendment Effective Date are true, accurate and complete and have not been further amended, supplemented or restated and are and continue to be in full force and effect;
4.4    The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, have been duly authorized;
4.5    The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not and will not contravene (a) any material Requirement of Law, (b) any material contractual restriction with a Person binding on Borrower, (c) any order, judgment or decree of any Governmental Authority by which Borrower or any of its Subsidiaries or any of their property or assets may be bound or affected, or (d) the organizational documents of Borrower;
4.6    The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not require any action by, filing, registration, or qualification with, or Governmental Approval from, 

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any Governmental Authority (except such Governmental Approvals which have already been obtained and are in full force and effect); and
4.7    This Amendment has been duly executed and delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable principles relating to or affecting creditors’ rights.
5.    Integration. This Amendment and the Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Amendment and the Loan Documents merge into this Amendment and the Loan Documents.
6.    Counterparts. This Amendment may be executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument.
7.    Effectiveness. This Amendment shall be deemed effective upon (a) the due execution and delivery to Bank of this Amendment by each party hereto, (b) Borrower’s payment of a fully earned, non-refundable amendment fee to Bank in an amount equal to Fifteen Thousand Dollars ($15,000), (c) Borrower’s payment of the Subsequent Funding Date Term Loan Commitment Fee for the Tranche Three Term Loan Advance in accordance with Section 2.4(a) of the Loan Agreement, (d) Borrower’s delivery to Bank of true, correct and complete copies of executed documents in connection with the contemplated round of Series H preferred equity financing (the “Series H Financing”), (e) Borrower’s receipt of proceeds from such Series H Financing in an amount acceptable to Bank, and (f) payment of all Bank’s legal fees and expenses in connection with the preparation and negotiation of this Amendment.
[Signature Page Follows.]

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

BANK

SILICON VALLEY BANK

	
		
	By:
	/s/ Derek Hofmeister

	 
	Derek Hofmeister

	 
	Vice President

BORROWER

BEYOND MEAT, INC.

	
		
	By:
	/s/ Mark Nelson

	 
	Mark Nelson

	 
	Chief Financial Officer

[Signature Page to First Amendment to Loan and Security Agreement]Exhibit

Exhibit 10.7

INTELLECTUAL PROPERTY SECURITY AGREEMENT
THIS INTELLECTUAL PROPERTY SECURITY AGREEMENT (“Agreement”) is entered into as of June 27, 2018 by and between SILICON VALLEY BANK, a California corporation (“Bank”), and SAVAGE RIVER, INC., a Delaware corporation (“Grantor”).
RECITALS
A.Bank has agreed to make certain advances of money and to extend certain financial accommodation to Grantor (the “Loans”) in the amounts and manner set forth in that certain Amended and Restated Loan and Security Agreement (Revolving Line) by and between Bank and Grantor dated the Effective Date (as the same may be amended, modified or supplemented from time to time, the “Loan Agreement”; capitalized terms used herein are used as defined in the Loan Agreement).  Bank is willing to make the Loans to Grantor, but only upon the condition, among others, that Grantor shall grant to Bank a security interest in certain Copyrights, Trademarks, Patents, and Mask Works (as each term is described below) to secure the obligations of Grantor under the Loan Agreement.
B.Pursuant to the terms of the Loan Agreement, Grantor has granted to Bank a security interest in all of Grantor’s right, title and interest, whether presently existing or hereafter acquired, in, to and under all of the Collateral.
NOW, THEREFORE, for good and valuable consideration, receipt of which is hereby acknowledged, and intending to be legally bound, as collateral security for the prompt and complete payment when due of its obligations under the Loan Agreement, Grantor hereby represents, warrants, covenants and agrees as follows:
AGREEMENT
1.Grant of Security Interest.  To secure its obligations under the Loan Agreement, Grantor grants and pledges to Bank a security interest in all of Grantor’s right, title and interest in, to and under its intellectual property (all of which shall collectively be called the “Intellectual Property Collateral”), including, without limitation, the following:
(a)Any and all copyright rights, copyright applications, copyright registrations and like protections in each work or authorship and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret, now or hereafter existing, created, acquired or held, including without limitation those set forth on Exhibit A attached hereto (collectively, the “Copyrights”);
(b)Any and all trade secrets, and any and all intellectual property rights in computer software and computer software products now or hereafter existing, created, acquired or held;
(c)Any and all design rights that may be available to Grantor now or hereafter existing, created, acquired or held;

(d)All patents, patent applications and like protections including, without limitation, improvements, divisions, continuations, renewals, reissues, extensions and continuations-in-part of the same, including without limitation the patents and patent applications set forth on Exhibit B attached hereto and any patents and patent applications claiming the priority benefit of the patents and patent applications set forth on Exhibit B attached hereto (collectively, the “Patents”);
(e)Any trademark and servicemark rights, whether registered or not, applications to register and registrations of the same and like protections, and the entire goodwill of the business of Grantor connected with and symbolized by such trademarks, including without limitation those set forth on Exhibit C attached hereto (collectively, the “Trademarks”);
(f)All mask works or similar rights available for the protection of semiconductor chips, now owned or hereafter acquired, including, without limitation those set forth on Exhibit D attached hereto (collectively, the “Mask Works”);
(g)Any and all claims for damages by way of past, present and future infringements of any of the rights included above, with the right, but not the obligation, to sue for and collect such damages for said use or infringement of the intellectual property rights identified above;
(h)All licenses or other rights to use any of the Copyrights, Patents, Trademarks, or Mask Works and all license fees and royalties arising from such use to the extent permitted by such license or rights;
(i)All amendments, extensions, renewals and extensions of any of the Copyrights, Trademarks, Patents, or Mask Works; and
(j)All proceeds and products of the foregoing, including without limitation all payments under insurance or any indemnity or warranty payable in respect of any of the foregoing.
2.Recordation.  Grantor authorizes the Commissioner for Patents, the Commissioner for Trademarks and the Register of Copyrights and any other government officials to record and register this Agreement upon request by Bank.
3.Authorization.  Grantor hereby authorizes Bank to (1) modify this Agreement unilaterally by amending the exhibits to this Agreement to include any Intellectual Property Collateral which Grantor obtains subsequent to the date of this Agreement, and (1) file a duplicate original of this Agreement containing amended exhibits reflecting such new Intellectual Property Collateral.
4.Loan Documents.  This Agreement has been entered into pursuant to and in conjunction with the Loan Agreement, which is hereby incorporated by reference.  The provisions of the Loan Agreement shall supersede and control over any conflicting or inconsistent provision herein.  The rights and remedies of Bank with respect to the Intellectual Property Collateral are as 

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provided by the Loan Agreement and related documents, and nothing in this Agreement shall be deemed to limit such rights and remedies.
5.Execution in Counterparts.  This Agreement 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 to this Agreement by facsimile or in electronic (i.e., “pdf” or “tif” format) shall be effective as delivery of a manually executed counterpart of this Agreement.
6.Successors and Assigns.  This Agreement will be binding on and shall inure to the benefit of the parties hereto and their respective successors and assigns.
7.Governing Law.  This Agreement and any claim, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Agreement and the transactions contemplated hereby and thereby shall be governed by, and construed in accordance with, the laws of the United States and the State of California, without giving effect to any choice or conflict of law provision or rule (whether of the State of California or any other jurisdiction).
[Signature page follows.]

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IN WITNESS WHEREOF, the parties have caused this Intellectual Property Security Agreement to be duly executed by its officers thereunto duly authorized as of the first date written above.
	
		
	GRANTOR:

	 
	 

	SAVAGE RIVER, INC.

	 
	 

	By:
	/s/ Mark Nelson

	Name:
	Mark Nelson

	Title:
	Chief Financial Officer

	 
	 

	 
	 

	BANK:

	 
	 

	SILICON VALLEY BANK

	 
	 

	By:
	/s/ Derek Hofmeister

	Name:
	Derek Hofmeister

	Title:
	Vice President

EXHIBIT A
Copyrights
	
				
	No.
	Description
	Registration Number
	Application Number

	1.
	None Identified
	 
	 

A-1

EXHIBIT B
Patents
	
				
	No.
	Description
	Application Number
	Registration Number

	1.
	Nutrient-Dense Meat 
Structured Protein 
Products
	 
	9,526,267 
(12/27/2016)

	2.
	Plant Based Meat 
Structured Protein 
Products
	14/687,803 
(04/15/2015)
	 

	3.
	Microbial Biomass Compromising Food 
Products
	14/855,212 
(09/15/2015)
	 

	4.
	Food Products 
Compromising Cell 
Wall Material
	15/225,646 
(08/01/2016)
	 

	5.
	Meat-Like Food
Products
	15/298,199 
(10/19/2016)
	 

	6.
	Nutrient-Dense Meat 
Structured Protein 
Products
	15/385,036 
(12/20/2016)
	 

	7.
	Meat-Like Food
Products
	PCT 
US2016057840 
(10/20/2016)
	 

	8.
	Food Products 
Comprising Cell Wall 
Material
	PCT 
US2016045128 
(08/02/2016)
	 

	9.
	Microbial Biomass 
Comprising Food 
Products
	PCT 
US2015050421 
(09/16/2015)
	 

	10.
	Plant Based Meat 
Structured Protein 
Products
	PCT 
US2015026206 
(04/16/2015)
	 

	11.
	Nutrient-Dense Meat 
Structured Protein 
Products
	PCT 
US2015026222 
(04/16/2015)
	 

B-1

EXHIBIT C
Trademarks
	
				
	No.
	Description
	Serial Number
	Registration Number

	1.
	THE FUTURE OF 
PROTEIN MADE 
FROM PLANTS
	87/903,995 
(05/02/2018)
	 

	2.
	THE FUTURE OF 
PROTEIN BEYOND 
MEAT (& design)
	87/463,132 
(05/24/2017)
	 

	3.
	BEYOND 
BREAKFAST 
SAUSAGE
	87/899,827 
(04/30/2018)
	 

	4.
	BEYOND HOT DOGS
	87/512,332 
(06/30/2017)
	 

	5.
	BEYOND LAMB
	87/512,318 
(06/30/2017)
	 

	6.
	BEYOND TUNA
	87/512,314 
(06/30/2017)
	 

	7.
	BEYOND SHRIMP
	87/512,310 
(06/30/2017)
	 

	8.
	BEYOND FISH
	87/512,309 
(06/30/2017)
	 

	9.
	BEYOND CRAB
	87/512,304 
(06/30/2017)
	 

	10.
	BEYOND HAM
	87/512,298 
(06/30/2017)
	 

	11.
	BEYOND PORK
	87/512,293 
(06/30/2017)
	 

	12.
	BEYOND TURKEY
	87/512,291 
(06/30/2017)
	 

	13.
	BEYOND SAUSAGE
	87/479,168 
(06/07/2017)
	 

	14.
	EAT WHAT YOU 
LOVE
	87/793,698 
(02/12/2018)
	 

	15.
	THE COOKOUT 
CLASSIC
	87/360,042 
(03/06/2017)
	 

	16.
	BEYOND GROUND
	87/512,323 
(06/30/2017)
	 

	17.
	BEYOND JERKY
	86/664,622 
(06/16/2015)
	 

C-1

	
				
	No.
	Description
	Serial Number
	Registration Number

	18.
	THE BEYOND 
BURGER
	 
	5,101,972 
(12/13/2016)

	19.
	THE FUTURE OF 
PROTEIN
	 
	4,852,710 
(11/10/2015)

	20.
	BEYOND BEEF
	 
	4,654,352 
(12/09/2014)

	21.
	BEYOND CHICKEN
	 
	4,654,351 
(12/09/2014)

	22.
	BEYOND MEAT 
(& design)
	 
	4,392,040 
(08/27/2013)

	23.
	BEYOND MEAT
	 
	4,314,689 
(04/02/2013)

	24.
	BEYOND BURGERS
	86/918082
	 

C-2

EXHIBIT D
Mask Works
	
				
	No.
	Description
	Application
	Registration

	1.
	None Identified
	 
	 

D-1

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