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Exhibit 4.3
VACCITECH PLC
REGISTRATION RIGHTS AGREEMENT
THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of the 9th day of August 2022, by and among VACCITECH PLC (the “Company”) (Company no. 13282620) and the investors listed on Exhibit A hereto, referred to hereinafter as the “Investors” and each individually as an “Investor”.
RECITALS
WHEREAS, the Company and Investors are parties to that certain Registration Rights Side Letter, dated 29 April 2021 under which certain of the Company’s and such Investors’ obligations are conditioned upon the execution and delivery of this Agreement by such Investors and the Company; and
WHEREAS, the Company and the Investors desire to set forth certain registration rights, as more fully described below.
NOW, THEREFORE, the Company and the Investors hereby agree as follows:
	1.
	GENERAL

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

		(a)
	“Affiliate” means, with respect to any specified Person, any other Person who, directly or indirectly, controls, is controlled by, or is under common control with such Person, including, without limitation, any general partner, managing member, officer, director or trustee of such Person, or any venture capital fund or other investment fund now or hereafter existing that is controlled by one (1) or more general partners, managing members or investment adviser of, or shares the same management company or investment adviser with, such Person.

		(b)
	“Articles” means the articles of association of the Company, as may be amended and/or amended and restated from time-to-time.

		(c)
	“Block Trade Offering” shall mean any underwritten offering demanded by one or more Initiating Holders that is a no-roadshow “block trade” take-down off of a shelf registration statement where pricing is expected to occur no later than the fifth business day after such demand is made.

		(d)
	“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

		(e)
	“Form S-3” means such form under the Securities Act as in effect on the date hereof or any successor or similar registration form under the Securities Act subsequently adopted by the SEC, which permits inclusion or incorporation of substantial information by reference to other documents filed by the Company with the SEC.

		(f)
	“Initiating Holders” means, collectively, Holders who properly initiate a registration request in accordance with the terms of this Agreement.

		(g)
	“Holder” means any Person owning of record Registrable Securities that have not been sold to the public or any assignee of record of such Registrable Securities in accordance with Section 3.2 hereof.

		(h)
	“Ordinary Shares” shall have the meaning given to the term in the Articles.

		(i)
	“Person” means any individual, corporation, partnership, trust, limited liability company, association or other entity.

		(j)
	“Register,” “registered,” and “registration” refer to a registration effected by preparing

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and filing a registration statement in compliance with the Securities Act and the declaration or ordering of effectiveness of such registration statement or document.
		(k)
	“Registrable Securities” means, at any time with respect to any Investor, its: (i) Ordinary Shares of the Company; (ii) Ordinary Shares issued or issuable upon conversion and/or exercise of any other securities of the Company, acquired by the Investors or their permitted assignees after the date hereof; and (iii) Ordinary Shares of the Company issued as (or issuable upon the conversion or exercise of any warrant, right or other security, which is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, such above-described securities. Where the context requires, Registrable Securities shall include American Depositary Receipts representing Ordinary Shares. Notwithstanding the foregoing, Registrable Securities shall not include any securities: (i) sold by a Person to the public either pursuant to a registration statement or Rule 144; or (ii) sold in a private transaction in which the transferor’s rights under Section 3 of this Agreement are not assigned; or (iii) any Ordinary Shares for which registration rights have terminated pursuant to Section 2.12 of this Agreement.

		(l)
	“Registration Expenses” means all expenses incurred by the Company in complying with Sections 2.1, 2.2 and 2.3 hereof, including, without limitation, all registration and filing fees, printing expenses, fees and disbursements of counsel for the Company, reasonable fees and disbursements not to exceed fifty thousand U.S. dollars (U.S.$50,000) of a single special counsel for the Holders (to be selected by, in the case of a registration under Section 2, the Holders of at least 30% of the Registrable Securities requesting such registration and, in the case of other registrations, the Holders of at least 30% of the Registrable Securities included in such registration), blue sky fees and expenses and the expense of any special audits incident to or required by any such registration (but excluding the compensation of regular employees of the Company which shall be paid in any event by the Company).

		(m)
	“Rule 144” means Rule 144 promulgated by the SEC under the Securities Act.

		(n)
	“SEC” or “Commission” means the Securities and Exchange Commission.

		(o)
	“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

		(p)
	“Selling Expenses” means all underwriting discounts and selling commissions applicable to the sale of Registrable Securities.

		(q)
	“Shares” means the Ordinary Shares held from time to time by the Investors listed in Exhibit A hereto and their permitted assignees.

		(r)
	“Special Registration Statement” means: (i) a registration statement relating to any employee benefit plan; or (ii) with respect to any corporate reorganization or transaction under Rule 145 of the Securities Act, any registration statements related to the issuance or resale of securities issued in such a transaction; or (iii) a registration statement related to shares issued upon conversion of debt securities.

	2.
	REGISTRATION.

	2.1
	Demand Registration.

		(a)
	Subject to the conditions of this Section 2.1, if the Company shall receive a written request from the Holders of at least fifty percent (50%) of the Registrable Securities, that the Company file a registration statement on Form S-1 under the Securities Act with an aggregate offering price, net of Selling Expenses, in excess of $15,000,000, then the Company shall, within ten (10) days of the receipt thereof, give written notice of such request to all Holders, and, subject to the limitations of this Section 2.1, effect, as expeditiously as reasonably possible, and in any event within sixty (60) days of the receipt of such request, an initial filing with the SEC of a registration statement under

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the Securities Act (or, if eligible, a draft registration statement) of all Registrable Securities that all Holders request to be registered.
		(b)
	The Company shall not be required to effect a registration pursuant to this Section 2.1:

		(i)
	after the Company has effected two (2) registrations pursuant to this Section 2.1, and such registrations have been declared or ordered effective;

		(ii)
	during the period starting with the date thirty (30) days prior to the Company’s good faith estimate of the date of filing of, and ending on the date ninety (90) days following the effective date of the registration statement pertaining to a Company-initiated public offering, other than pursuant to a Special Registration Statement; provided that the Company makes reasonable good faith efforts to cause such registration statement to become effective;

		(iii)
	if the Company shall furnish to Holders requesting a registration statement pursuant to this Section 2.1 a certificate signed by the Chairman of the Board stating that in the good faith judgment of the Board of Directors of the Company, it would be materially detrimental to the Company and its shareholders for such registration statement to be effected at such time because such action would (a) materially interfere with a significant acquisition, corporate reorganization, or other similar transaction involving the Company; (b) require premature disclosure of material information that the Company has a bona fide business purpose for preserving as confidential; or (c) render the Company unable to comply with requirements under the Securities Act or Exchange Act, in which event the Company shall have the right to defer such filing for a period of not more than forty-five (45) days after receipt of the request of the Initiating Holders; provided that such right to delay a request shall be exercised by the Company not more than once in any twelve (12) month period, and provided further that the Company shall not register any securities for its own account or that of any other stockholder during such forty-five (45) day period other than pursuant to a Special Registration Statement; or

		(iv)
	if the Initiating Holders propose to dispose of shares of Registrable Securities that may be immediately registered on Form S-3 pursuant to a request made pursuant to Section 2.3 below.

A registration shall not be counted as “effected” for purposes of this Subsection 2.1(b) until such time as the applicable registration statement has been declared effective by the SEC.
	2.2
	Piggyback Registrations. The Company shall promptly notify all Holders of Registrable Securities prior to the filing of any registration statement under the Securities Act for purposes of a public offering of securities of the Company (including, but not limited to, registration statements relating to secondary offerings of securities of the Company, but excluding Special Registration Statements) and will afford each such Holder an opportunity to include in such registration statement all or part of such Registrable Securities held by such Holder. Each Holder desiring to include in any such registration statement all or any part of the Registrable Securities held by it shall, within fifteen (15) days after the above-described notice from the Company, so notify the Company in writing. The Company shall cause to be registered all of the Registrable Securities that each such Holder has requested to be included in such registration. If a Holder decides not to include all of its Registrable Securities in any registration statement thereafter filed by the Company, such Holder shall nevertheless continue to have the right to include any Registrable Securities in any subsequent registration statement or registration statements as may be filed by the Company with respect to offerings of its securities, all upon the terms and conditions set forth herein. The Company shall have the right to terminate or withdraw any registration initiated by it under this Section 2.2 whether or not any Holder has elected to include Registrable Securities in such registration and shall promptly notify any Holder that has elected to include Registrable Securities in such registration of such termination or withdrawal. The Registration Expenses of such withdrawn registration shall be borne by the Company in accordance with Section 2.5 hereof.

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	2.3
	Form S-3 Registration. In case the Company shall receive a written request or requests from the Holders of at least thirty percent (30%) of the Registrable Securities that the Company effect a registration on Form S-3 (or any successor to such forms) or any similar short-form registration statement (including the use of Form S-3 for an offering to be made on a delayed or continuous basis pursuant to Rule 415 under the Securities Act or any successor rule thereto and any related qualification or compliance with respect to all or a part of the Registrable Securities owned by such Initiating Holder(s)), the Company will:

		(a)
	promptly, within ten (10) days of receipt of the written request, give written notice of the proposed registration and any related qualification or compliance to all other Holders of Registrable Securities; and

		(b)
	subject to 2.3(c) below, as expeditiously as reasonably possible, and in any event within forty-five (45) days after the date of the Initiating Holder’s or Initiating Holders’ written request, file such registration statement to permit or facilitate the sale and distribution of all Registrable Securities as are specified in such request, together with all Registrable Securities requested to be included by any other Holder or Holders joining in such request as specified in a written request given within fifteen (15) days after receipt of the written notice described in paragraph (a) above; provided, however, that the Company shall not be obligated to effect any such registration, qualification or compliance pursuant to this Section 2.3:

		(i)
	if Form S-3 is not available for such offering by the Holders, or

		(ii)
	if the Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration, propose to sell Registrable Securities and such other securities (if any) at an anticipated aggregate price to the public of less than seven million U.S. dollars (U.S.$7,000,000), or

		(iii)
	during the period starting with the date thirty (30) days prior to the Company’s good faith estimate of the date of filing of, and ending on the date ninety (90) days following the effective date of the registration statement pertaining to a Company-initiated public offering, other than pursuant to a Special Registration Statement; provided that the Company makes reasonable good faith efforts to cause such registration statement to become effective;

		(iv)
	if the Company shall furnish to the Holders requesting a registration statement pursuant to this Section 2.3 a certificate signed by the Chairman of the Board of Directors of the Company stating that in the good faith judgment of the Board of Directors of the Company, it would be materially detrimental to the Company and its shareholders for such Form S-3 registration to be effected at such time because such action would (a) materially interfere with a significant acquisition, corporate reorganization, or other similar transaction involving the Company; (b) require premature disclosure of material information that the Company has a bona fide business purpose for preserving as confidential; or (c) render the Company unable to comply with requirements under the Securities Act or Exchange Act, in which event the Company shall have the right to defer the filing of the Form S-3 registration statement for a period of not more than forty-five (45) days after receipt of the request of the Initiating Holder or Initiating Holders under this Section 2.3; provided, that such right to delay a request shall be exercised by the Company not more than once in any twelve (12) month period, and provided further that the Company shall not register any securities for its own account or that of any other stockholder during such forty-five (45) day period other than a Special Registration Statement; or

		(v)
	if the Company has, within the twelve (12) month period preceding the date of such request, already effected two (2) registrations on Form S-3 for the Holders pursuant to this Section 2.3.

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A registration shall not be counted as “effected” for purposes of this Subsection 2.3(b) until such time as the applicable registration statement has been declared effective by the SEC.
		(c)
	Registrations effected pursuant to this Section 2.3 shall not be counted as demands for registration or registrations effected pursuant to Section 2.1.

	2.4
	Underwritten Offerings of the Registrable Securities.

		(a)
	If, pursuant to Sections 2.1 and 2.3, the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an underwriting (including, for the avoidance of doubt, pursuant to a takedown from an effective Form S-3 previously filed pursuant to Section 2.3), they shall so advise the Company as a part of their request made pursuant to Sections 2.1 and 2.3, and the Company shall include such information in the Demand Notice. The underwriter(s) will be selected by the Company’s Board of Director and shall be reasonably acceptable to a majority in interest of the Initiating Holders. In such event, the right of any Holder to include such Holder’s Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their securities through such underwriting shall (together with the Company as provided in Section 2.6(e)) enter into an underwriting agreement in customary form with the underwriter(s) selected for such underwriting; provided, however, that no Holder (or any of their assignees) shall be required to make any representations, warranties or indemnities except as they relate to such Holder’s ownership of shares and authority to enter into the underwriting agreement and to such Holder’s intended method of distribution, and the liability of such Holder shall be several and not joint, and limited to an amount equal to the net proceeds from the offering received by such Holder. Notwithstanding any other provision of this Section 2.4, if the underwriter(s) advise(s) the Initiating Holders in writing that marketing factors require a limitation on the number of shares to be underwritten, then the Initiating Holders shall so advise all Holders of Registrable Securities that otherwise would be underwritten pursuant hereto, and the number of Registrable Securities that may be included in the underwriting shall be allocated among such Holders of Registrable Securities, including the Initiating Holders, in proportion (as nearly as practicable) to the number of Registrable Securities owned by each Holder or in such other proportion as shall mutually be agreed to by all such selling Holders; provided, however, that the number of Registrable Securities held by the Holders to be included in such underwriting shall not be reduced unless all other securities are first entirely excluded from the underwriting. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest one hundred (100) shares.

		(b)
	In connection with any offering involving an underwriting of shares of the Company’s capital stock pursuant to Section 2.2, the Company shall not be required to include any of the Holders’ Registrable Securities in such underwriting unless the Holders accept the terms of the underwriting as agreed upon between the Company and its underwriters, and then only in such quantity as the underwriters in their sole discretion determine will not jeopardize the success of the offering by the Company. If the total number of securities, including Registrable Securities, requested by stockholders to be included in such offering exceeds the number of securities to be sold (other than by the Company) that the underwriters in their reasonable discretion determine is compatible with the success of the offering, then the Company shall be required to include in the offering only that number of such securities, including Registrable Securities, which the underwriters and the Company in their sole discretion determine will not jeopardize the success of the offering. If the underwriters determine that less than all of the Registrable Securities requested to be registered can be included in such offering, then the Registrable Securities that are included in such offering shall be allocated among the selling Holders in proportion (as nearly as practicable to) the number of Registrable Securities owned by each selling Holder or in such other proportions as shall mutually be agreed to by all such selling Holders. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the

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number of shares allocated to any Holder to the nearest one hundred (100) shares. Notwithstanding the foregoing, in no event shall (i) the number of Registrable Securities included in the offering be reduced unless all other securities (other than securities to be sold by the Company) are first entirely excluded from the offering or (ii) the number of Registrable Securities included in the offering be reduced below thirty percent (30%) of the total number of securities included in such offering. For purposes of the provision in this Section 2.4(b) concerning apportionment, for any selling Holder that is a partnership, limited liability company, or corporation, the partners, members, retired partners, retired members, stockholders, and Affiliates of such Holder, or the estates and immediate family members of any such partners, retired partners, members, and retired members and any trusts for the benefit of any of the foregoing Persons, shall be deemed to be a single “selling Holder,” and any pro rata reduction with respect to such “selling Holder” shall be based upon the aggregate number of Registrable Securities owned by all Persons included in such “selling Holder,” as defined in this sentence.
		(c)
	For purposes of Sections 2.1 and 2.3, a registration shall not be counted as “effected” if, as a result of an exercise of the underwriter’s cutback provisions in Section 2.4(a), fewer than fifty percent (50%) of the total number of Registrable Securities that Holders have requested to be included in such registration statement are actually included.

	2.5
	Expenses of Registration. Except as specifically provided herein, all Registration Expenses incurred in connection with any registration, qualification or compliance pursuant to Section 2.1, 2.2 or 2.3 herein shall be borne by the Company. All Selling Expenses incurred in connection with any registrations hereunder shall be borne by the holders of the securities so registered pro rata on the basis of the number of shares so registered. The Company shall not, however, be required to pay for expenses of any registration proceeding begun pursuant to Section 2.1 or 2.3, the request of which has been subsequently withdrawn by the Initiating Holders unless: (a) the withdrawal is based upon material adverse information concerning the Company of which the Initiating Holders were not aware at the time of such request; or (b) the Holders of at least sixty percent (60%) of the Registrable Securities agree to deem such registration to have been effected as of the date of such withdrawal for purposes of determining whether the Company shall be obligated pursuant to Section 2.1(b)(i) or 2.3(b)(v), as applicable, to undertake any subsequent registration, in which event such right shall be forfeited by all Holders. If the Holders are required to pay the Registration Expenses, such expenses shall be borne by the holders of securities (including Registrable Securities) requesting such registration in proportion to the number of shares for which registration was requested. If the Company is required to pay the Registration Expenses of a withdrawn offering pursuant to clause (a) above, then such registration shall not be deemed to have been effected for purposes of determining whether the Company shall be obligated pursuant to Section 2.1(b)(i) or 2.3(b)(v), as applicable, to undertake any subsequent registration.

	2.6
	Obligations of the Company. Whenever required to effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible:

		(a)
	Prepare and file with the SEC a registration statement with respect to such Registrable Securities and use all reasonable efforts to cause such registration statement to become effective as promptly as practicable (and in any event, within three business days following the SEC staff notifying the Company that they do not intend to review the registration statement or that they do not have any additional comments in reviewing the registration statement), and keep such registration statement effective for a period of one hundred and eighty (180) days or until the distribution contemplated in such registration statement of all of such Registrable Securities have been completed (if earlier); provided, however, that: such one hundred and eighty (180) day period shall be extended for a period of time equal to the period a Holder refrains, at the request of an underwriter of the Company, from selling any securities included in such registration; provided, further, in the case of any registration of Registrable Securities on Form S-3 that are intended to be offered on a continuous or delayed basis, subject to compliance with applicable SEC rules, such registration statement shall be kept effective until all such Registrable Securities are sold; provided, further, that at any time, upon written notice to the participating Holders and for a period not to exceed thirty (30) days thereafter (the “Suspension Period”), the Company may delay the filing or effectiveness of any registration statement or suspend the use or effectiveness of any registration statement (and the Holders hereby agree not to offer or sell any Registrable

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Securities pursuant to such registration statement during the Suspension Period) if the Company reasonably believes that there is or may be in existence material nonpublic information or events involving the Company, the failure of which to be disclosed in the prospectus included in the registration statement could result in a loss, claim, damages, or liability under the Securities Act, the Exchange Act or other federal or state law. If so directed by the Company, all Holders registering shares under such registration statement shall: not offer to sell any Registrable Securities pursuant to the registration statement during the Suspension Period after receiving notice of such delay or suspension.
		(b)
	Prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection with such registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement for the period set forth in subsection (a) above.

		(c)
	Furnish to the Holders such number of copies of a prospectus, including a preliminary prospectus, in conformity with the requirements of the Securities Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them.

		(d)
	Use its commercially reasonable efforts to register and qualify the securities covered by such registration statement under such other securities or blue-sky laws of such jurisdictions as shall be reasonably requested by the selling Holders; provided that the Company shall not be required to qualify to do business or to file a general consent to service of process in any such states or jurisdictions.

		(e)
	In the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter(s) of such offering. Each Holder participating in such underwriting shall also enter into and perform its obligations under such an agreement.

		(f)
	Notify each Holder of Registrable Securities covered by such registration statement at any time when a prospectus relating thereto is required to be delivered under the Securities Act upon the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing. The Company will use reasonable efforts to amend or supplement such prospectus in order to cause such prospectus not to include any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing.

		(g)
	Use all reasonable efforts to furnish, on the date that such Registrable Securities are delivered to the underwriters for sale, if such securities are being sold through underwriters: (i) an opinion, dated as of such date, of the counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any; and (ii) a letter, dated as of such date, from the independent certified public accountants of the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering addressed to the underwriters.

		(h)
	Use its commercially reasonable efforts to cause all such Registrable Securities covered by such registration statement to be listed on a national securities exchange or trading system and each securities exchange and trading system (if any) on which securities of the same class issued by the Company are then listed.

		(i)
	Provide a transfer agent and registrar for all Registrable Securities registered pursuant to this Agreement not later than the effective date of such registration.

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		(j)
	Notify each selling Holder, promptly after the Company receives notice thereof, of the time when such registration statement has been declared effective or a supplement to any prospectus forming a part of such registration statement has been filed.

		(k)
	After such registration statement becomes effective, notify each selling Holder of any request by the SEC that the Company amend or supplement such registration statement or prospectus.

		(l)
	Promptly make available for inspection by the Holders, any underwriter(s) participating in any disposition pursuant to such registration statement, and any attorney or accountant or other agent retained by any such underwriter or selected by the Holders, all financial and other records, pertinent corporate documents, and properties of the Company, and cause the Company’s officers, directors, employees, and independent accountants to supply all information reasonably requested by any such seller, underwriter, attorney, accountant, or agent, in each case, as necessary or advisable to verify the accuracy of the information in such registration statement and to conduct appropriate due diligence in connection therewith;

		(m)
	If (i) the Company has filed a Registration Statement (the "Initial Registration Statement") with the SEC that covers Registrable Securities (the "Initial Registrable Securities"), (ii) pursuant to Rule 415(a)(5) under the Securities Act or any successor rule thereto, the Initial Registration Statement may no longer be used for offers and sales of any of the Initial Registrable Securities, and (iii) any of the Initial Registrable Securities remain Registrable Securities at the time that (ii) above occurs, the Company shall prepare and file with the SEC within the time limits required by Rule 415 under the Securities Act or any successor rule thereto a new registration statement covering any Initial Registrable Securities that have not ceased to be Registrable Securities for an offering to be made on a delayed on continuous basis pursuant to Rule 415 under the Securities Act or any successor rule thereto (a "New Registration Statement") and shall use its best efforts to cause such New Registration Statement to be declared effective by the SEC as soon as practicable thereafter; provided, that, if at the time it is required to file a New Registration Statement with the SEC pursuant to this Section 2.6(m) the Company is not qualified to use a registration statement on Form S-3 or the then appropriate form for an offering to be made on a delayed or continuous basis pursuant to Rule 415 under the Securities Act or any successor rule thereto, the Company shall not be required to file a New Registration Statement with the SEC and the Investors shall be permitted to request registration under the Securities Act of all or any portion of their Initial Registrable Securities that have not ceased to be Registrable Securities pursuant, and subject to, Section 2.1 and such shall not count as a registration for purposes of the limitations set forth in Section 2.1(b)(i).

		(n)
	Use reasonable best efforts to take any action requested by the Initiating Holders, including any action described above to prepare for and facilitate any Block Trade Offering or other proposed sale of Registrable Securities over a limited timeframe.

	2.7
	Delay of Registration; Furnishing Information.

		(a)
	No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any such registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2.

		(b)
	It shall be a condition precedent to the obligations of the Company to take any action pursuant to Section 2.1, 2.2 or 2.3 that the selling Holders shall furnish to the Company such information regarding themselves, the Registrable Securities held by them and the intended method of disposition of such securities as shall be required to effect the registration of their Registrable Securities.

	2.8
	Indemnification.

		(a)
	To the extent permitted by law, the Company shall indemnify and hold harmless each of the Holders, and, as applicable, their partners, members, officers, directors, and

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constituent partners and shareholders of each such Holder, legal counsel for each Holder and each Person controlling the Holders, and each underwriter, if any, and each Person who controls any underwriter within the meaning of the Securities Act against all claims, losses, damages, or liabilities (or actions in respect thereof) to the extent such claims, losses, damages, or liabilities (joint or several) arise out of or are based upon (i) any untrue statement (or alleged untrue statement) of a material fact contained in any registration statement, prospectus or other document (including any related registration statement or amendment or supplement to any of them), or (ii) any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, (iii) any violation or alleged violation by the Company, its agents or Affiliates of the Securities Act, the Exchange Act, any state securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law or (iv) any breach or violation of this Agreement by the Company; and the Company shall pay as incurred to the Holders, each such underwriter, and each Person who controls the Holders or underwriter, any legal and any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability, or action; provided, however, that the indemnity contained in this Section 2.8(a) shall not apply to amounts paid in settlement of any such claim, loss, damage, liability, or action if settlement is effected without the consent of the Company (which consent shall not unreasonably be withheld); and provided, further, that the Company shall not be liable in any such case to the extent that any such claim, loss, damage, liability, or expense arises out of or is based upon any untrue statement or omission contained in such prospectus or other document based upon written information furnished to the Company by the Holders, such underwriter, or such controlling Person and stated to be for use therein.
		(b)
	To the extent permitted by law, each Holder (severally and not jointly) shall, if Registrable Securities held by such Holder are included for sale in the registration and related qualification and compliance effected pursuant to this Agreement, indemnify the Company, each of its directors, each officer of the Company who signs the applicable registration statement, each legal counsel and each underwriter of the Company’s securities covered by such a registration statement, each Person who controls the Company or such underwriter within the meaning of the Securities Act against all claims, losses, damages, and liabilities (or actions in respect thereof) arising out of or based upon (i) any untrue statement (or alleged untrue statement) of a material fact contained in any such registration statement, or related document, or (ii) any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by such Holder of the obligations set forth in this Agreement, the Securities Act, the Exchange Act, any state securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law applicable to such Holder and relating to action or inaction required of such Holder in connection with any such registration and related qualification and compliance, and shall pay as incurred to such persons, any legal and any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability, or action, in each case only to the extent that such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in (and such violation pertains to) such registration statement or related document in reliance upon and in conformity with written information furnished to the Company by such Holder and stated to be specifically for use therein, which was not corrected in a subsequent writing prior to or concurrently with the sale of Registrable Securities; provided, however, that the indemnity contained in this Section 2.8(b) shall not apply to amounts paid in settlement of any such claim, loss, damage, liability, or action if settlement is effected without the consent of such Holder (which consent shall not unreasonably be withheld); provided, further, that such Holder’s liability under this Section 2.8(b) (when combined with any amounts such Holder is liable for under Section 2.8(d)) shall not exceed such Holder’s net proceeds from the offering of securities made in connection with such registration.

		(c)
	Promptly after receipt by an indemnified party under this Section 2.8 of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against an indemnifying party under this Section 2.8, notify the indemnifying party in writing of the commencement thereof and generally summarize

​

9

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such action. The indemnifying party shall have the right to participate in and to assume the defense of such claim; provided, however, that the indemnifying party shall be entitled to select counsel for the defense of such claim with the approval of any parties entitled to indemnification, which approval shall not be unreasonably withheld; provided further, however, that if either party reasonably determines that there may be a conflict between the position of the Company and the Holders in conducting the defense of such action, suit, or proceeding by reason of recognized claims for indemnity under this Section 2.8, then counsel for such party shall be entitled to conduct the defense to the extent reasonably determined by such counsel to be necessary to protect the interest of such party. The failure to notify an indemnifying party promptly of the commencement of any such action, if prejudicial to the ability of the indemnifying party to defend such action, shall relieve such indemnifying party, to the extent so prejudiced, of any liability to the indemnified party under this Section 2.8, but the omission so to notify the indemnifying party shall not relieve such party of any liability that such party may have to any indemnified party otherwise than under this Section 2.8.
		(d)
	If the indemnification provided for in this Section 2.8 is held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any loss, liability, claim, damage, or expense referred to therein, then the indemnifying party, in lieu of indemnifying such indemnified party hereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such loss, liability, claim, damage, or expense in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in connection with the statements or omissions that resulted in such loss, liability, claim, damage, or expense as well as any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission. In no event, however, shall (i) any amount due for contribution hereunder be in excess of the amount that would otherwise be due under Section 2.8(a) or Section 2.8(b), as applicable, based on the limitations of such provisions and (ii) a Person guilty of fraudulent misrepresentation (within the meaning of the Securities Act) be entitled to contribution from a Person who was not guilty of such fraudulent misrepresentation.

		(e)
	Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection with an underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control;.

		(f)
	The obligations of the Company and the Holders under this Section 2.8 shall survive the completion of any offering of Registrable Securities in a registration statement under this Agreement or otherwise.

	2.9
	Agreement to Furnish Information. Each Holder agrees, if Registrable Securities held by such Holder are included for sale in the registration and related qualification and compliance effected pursuant to this Agreement, to execute and deliver such other agreements as may be reasonably requested by the Company or the managing underwriters that are consistent with such Holder’s obligations under Section 2.7(b) and in this Section 2.9 or that are necessary to give further effect thereto. In addition, if requested by the Company or the representative of the underwriters of Ordinary Shares (or other securities) of the Company, such Holder shall provide, within ten (10) days of such request, such information as may be reasonably required by the Company or such representative in connection with the completion of any public offering of the Company’s securities pursuant to a registration statement filed under the Securities Act. The obligations described in this Section 2.9 shall not apply to a Special Registration Statement. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to such shares of Ordinary Shares (or other securities) until the end of such period. Each Holder agrees that any transferee of any shares of Registrable Securities shall be bound by Section 2.8. The underwriters of the Company’s shares are intended third party beneficiaries of Section 2.8 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto.

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10

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	2.10
	Limitations on Subsequent Registration Rights. From and after the date of this Agreement, the Company shall not, without the prior written consent of Holders of at least 40% of the Registrable Securities then outstanding, enter into any agreement with any holder or prospective holder of any securities of the Company that would (i) provide to such holder the right to include securities in any registration on other than either a pro rata basis with respect to the Registrable Securities or on a subordinate basis after all Holders have had the opportunity to include in the registration and offering all shares of Registrable Securities that they may wish to so include or (ii) allow such holder or prospective holder to initiate a demand for registration of any securities held by such holder or prospective holder.

	2.11
	Rule 144 Reporting. With a view to making available to the Holders the benefits of certain rules and regulations of the SEC which may permit the sale of the Registrable Securities to the public without registration, the Company agrees to use its commercially reasonable efforts to:

		(a)
	make and keep adequate current public information available, as those terms are understood and defined in Rule 144 or any similar or analogous rule promulgated under the Securities Act, at all times after the effective date of the first registration filed by the Company for an offering of its securities to the general public;

		(b)
	file with the SEC, in a timely manner, all reports and other documents required of the Company under the Exchange Act; and

		(c)
	so long as a Holder owns any Registrable Securities, furnish to such Holder forthwith upon request: (i) a written statement by the Company as to its compliance with the reporting requirements of said Rule 144, and of the Exchange Act (at any time after it has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form S-3 (at any time after the Company so qualifies); (ii) a copy of the most recent annual or quarterly report of the Company filed with the Commission; and (iii) such other reports and documents as a Holder may reasonably request in connection with availing itself of any rule or regulation of the SEC allowing it to sell any such securities without registration.

	2.12
	Termination of Registration Rights. The right of any Holder to request registration or inclusion of Registrable Securities in any registration pursuant to Section 2.1, Section 2.2, or Section 2.3 hereof shall terminate upon the earlier of: (a) such time as such Holder holds less than 1% of the Company’s outstanding Ordinary Shares; or (b) such time as all Registrable Securities of the Company issuable or issued upon conversion of the Shares held by and issuable to such Holder (and its Affiliates) may be sold pursuant to Rule 144 without registration and without limitation thereunder as to volume or manner of sale; or (c) the fourth anniversary of the date of the this Agreement. Upon such termination, such shares shall cease to be “Registrable Securities” hereunder for all purposes.

	3.
	MISCELLANEOUS.

	3.1
	Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York in all respects, as such laws are applied to agreements among New York residents entered into and to be performed entirely within New York, without reference to conflicts of laws or principles thereof.

	3.2
	Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding upon, the parties hereto and their respective successors, assigns, heirs, executors, and administrators and shall inure to the benefit of and be enforceable by each Person who shall be a holder of Registrable Securities from time to time; provided, however, that prior to the receipt by the Company of adequate written notice of the transfer of any Registrable Securities specifying the full name and address of the transferee, the Company may deem and treat the Person listed as the holder of such shares in its records as the absolute owner and holder of such shares for all purposes, including the payment of dividends or any redemption price. The rights any Investor under this Agreement may be assigned, in whole or in part, to any Affiliate of such investor, and, subject to the Company’s written consent which shall not be unreasonably held or delayed, any other transferee, in each case, in connection with a transfer of the related Registrable Securities by such Investor.

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11

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	3.3
	Entire Agreement. This Agreement and the Exhibit hereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and no party shall be liable or bound to any other in any manner by any oral or written representations, warranties, covenants and agreements except as specifically set forth herein and therein. Each party expressly represents and warrants that it is not relying on any oral or written representations, warranties, covenants or agreements outside of this Agreement.

	3.4
	Severability. In the event one or more of the provisions of this Agreement should, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein.

	3.5
	Amendment and Waiver.

		(a)
	Except as otherwise expressly provided, this Agreement may be amended or modified, and the obligations of the Company and the rights of the Holders under this Agreement may be waived, only upon the written consent of the Company and the holders of not less than seventy-five percent (75%) of the Registrable Securities. The Company shall give prompt notice of any amendment or termination hereof or waiver hereunder to any party hereto that did not consent in writing to such amendment, termination, or waiver. Any amendment, termination, or waiver effected in accordance with this Section 3.5 shall be binding on all parties hereto, regardless of whether any such party has consented thereto; provided, however, that, notwithstanding anything to the contrary herein, this Agreement may not be amended or terminated and the observance of the terms hereof may not be waived with respect to any Holder without the written consent of such Holder, unless such amendment, termination or waiver applies to all Holders in the same fashion. No waivers of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such term, condition, or provision.

		(b)
	For the purposes of determining the number of Holders or Investors entitled to vote or exercise any rights hereunder, the Company shall be entitled to rely solely on the list of record holders of its shares as maintained by or on behalf of the Company.

	3.6
	Delays or Omissions. It is agreed that no delay or omission to exercise any right, power, or remedy accruing to any party, upon any breach, default or noncompliance by another party under this Agreement shall impair any such right, power, or remedy, nor shall it be construed to be a waiver of any such breach, default or noncompliance, or any acquiescence therein, or of any similar breach, default or noncompliance thereafter occurring. It is further agreed that any waiver, permit, consent, or approval of any kind or character on any party’s part of any breach, default or noncompliance under the Agreement or any waiver on such party’s part of any provisions or conditions of this Agreement must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement, by law, or otherwise afforded to any party, shall be cumulative and not alternative.

	3.7
	Notices. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified; (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient; if not, then on the next business day; (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (d) one (2) days after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the party to be notified at the address as set forth on the signature pages hereof or Exhibit A hereto or at such other address or electronic mail address as such party may designate by ten (10) days’ advance written notice to the other parties hereto. In providing any notices to Holders under this Agreement, the Company shall not deliver any information that would constitute material non-public information within the meaning of applicable securities laws without first obtaining written confirmation that a Holder wishes to obtain such information. Absent such written confirmation, the Holders shall not have any duties of confidentiality with respect to notices provided hereunder by the Company.

	3.8
	Titles and Subtitles. The titles of the sections and subsections of this Agreement are for convenience of reference only and are not to be considered in construing this Agreement.

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12

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	3.9
	Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

	3.10
	Aggregation of Shares. All shares of Registrable Securities held or acquired by affiliated entities or Persons under common management or control shall be aggregated together for the purpose of determining the availability of any rights under this Agreement.

	3.11
	Termination. This Agreement shall terminate and be of no further force or effect once all Registrable Securities cease to be Registrable Securities pursuant to the terms of Section 2.12 of this Agreement.

[Intentionally left blank, Exhibit A and signature pages to follow.]
​

13

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Exhibit A
Investors
​
	​

	​

	Name
	Address

	Prudential Credit Opportunities SCSp (an investment vehicle advised by M&G Alternatives Investment Management Ltd)
HSBC AS DEP FOR M+G M&G ) (ACS) Japan Equity Fund
	[***]

	Oxford Science Enterprises plc
	[***]

​
​

​

​

IN WITNESS WHEREOF, the parties hereto have executed this REGISTRATION RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof:
​
	​

	​

	​

	​

	EXECUTED by a signatory, duly authorised on
	)
	Signature
	/s/ Jim Wilkinson

	behalf of OXFORD SCIENCE ENTERPRISES
	)
	​
	​

	PLC
	)
	Print Name
	Jim Wilkinson

​
​

​

​

IN WITNESS WHEREOF, the parties hereto have executed this REGISTRATION RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof:
​
	​

	​

	​

	​

	EXECUTED by a signatory, duly authorised on
	)
	Signature
	/s/ Amandine Le Floch

	behalf of PRUDENTIAL CREDIT
	)
	​
	​

	OPPORTUNITIES SCSP acting by an
	)
	Print Name
	Amandine Le Floch

	authorised signatory
	​
	​
	Class B Manager

	​
	​
	​
	​

	Represented by its managing general partner
	​
	​
	​

	Prudential Credit Opportunities GP S.à r.l.
	​
	​
	​

​
​

​

​

IN WITNESS WHEREOF, the parties hereto have executed this REGISTRATION RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof:
​
	EXECUTED by a signatory, duly authorised on
	)
	Signature
	/s/ Carl Vine

	behalf of HSBC AS DEP FOR M+G M&G
	)
	​
	​

	(ACS) Japan Equity Fund
	)
	Print Name
	Carl Vine

​
​

​

​

IN WITNESS WHEREOF, the parties hereto have executed this REGISTRATION RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof:
​
	​

	​

	​

	​

	EXECUTED by a signatory, duly authorised on
	)
	Signature
	/s/ William Enright

	behalf of VACCITECH PLC
	)
	​
	​

	​
	)
	Print Name
	William Enright

​

​creditagreementdatedasof

UniCredit Uncommitted MML Template  10208387728-v5 70-40708887  AGCO INTERNATIONAL GMBH  AND  UNICREDIT BANK AG, LONDON BRANCH  AS BANK  UNCOMMITTED MONEY MARKET LOAN  FACILITY  DATED  June 27, 2022 Exhibit 10.1 

 

         10208387728-v5  70-40708887    CONTENTS  Clause Page  1. Definitions and Interpretation ........................................................................................... 1  2. The Facility ........................................................................................................................ 7  3. Bank's Discretion ............................................................................................................... 7  4. Conditions Precedent ......................................................................................................... 7  5. Loan ................................................................................................................................... 7  6. Facility Amount ................................................................................................................. 8  7. Repayment ......................................................................................................................... 8  8. Prepayment and Cancellation ............................................................................................ 9  9. Interest ............................................................................................................................... 9  10. Costs and Expenses ........................................................................................................... 9  11. Payments ........................................................................................................................... 9  12. Increased Costs and Indemnities ..................................................................................... 11  13. Representations ............................................................................................................... 13  14. Undertakings ................................................................................................................... 15  15. Notices ............................................................................................................................. 18  16. Assignment and Transfer ................................................................................................. 19  17. Disclosure of Information ............................................................................................... 19  18. Partial Invalidity .............................................................................................................. 19  19. Rights and Remedies ....................................................................................................... 20  20. Entire Agreement ............................................................................................................ 20  21. Counterparts .................................................................................................................... 20  22. Governing Law and Jurisdiction ..................................................................................... 20  23. Contractual Recognition of Bail In ................................................................................. 20      

 

         10208387728-v5 - 1 - 70-40708887    This Agreement is dated       and made between:  (1)     AGCO International GmbH with its principal place of business at Victor Von Bruns- Strasse 17, 8212 Neuhausen am Rheinfall, Switzerland, Swiss company registration no.  CHE-1113.744.501 (the "Borrower"); and  (2) UniCredit Bank AG, London Branch, the branch office of UniCredit Bank AG (a  company limited by shares incorporated under the laws of Germany registered in the  commercial register of the local court of Munich under number HRB42148) with  registered branch number BR001757 and whose registered address is Moor House, 120  London Wall, London EC2Y 5ET (the "Bank").  1. DEFINITIONS AND INTERPRETATION  1.1 Definitions:  In this Agreement:  "€", “EUR” and "euro" denote the single currency of the Participating Member States.  "£", “GBP” and "sterling" denote the lawful currency of the United Kingdom.  "$", "USD" and "dollars" denote the lawful currency of the United States of America.  "Affiliate" means, in relation to a person, a Subsidiary of that person or a Holding  Company of that person or any other Subsidiary of that Holding Company.  "Aggregate Outstandings" means, at any time, the aggregate of the equivalents (as  calculated by the Bank) in the Base Currency of the amounts outstanding under the  Facility, calculated, where applicable, by reference to the Base Currency Equivalent of  the amount in question and so that, where the calculation is made for the purpose of  determining whether or not a Loan may be made, such calculation shall be made as if  the relevant Loan had taken place.  "Anti-Corruption Laws" means all laws, rules, and regulations applicable to, and  binding on, the Borrower or any of its Subsidiaries concerning or relating to bribery or  corruption.  "Bail-in Legislation" means in relation to a member state of the European Economic  Area which has implemented, or which at an time implements, the BRRD, the BRRD,  the SRMR, the relevant national implementing laws, regulations, rules, regulatory  technical standards or requirements.  "Bail-in Powers" means any write-down and conversion powers which can be  exercised by the Relevant Resolution Authority in a resolution scenario under the Bail- in Legislation, including, without limitation:  (i) the power to reduce, including to reduce to zero, the principal amount of  or outstanding amount due in respect of eligible liabilities, of an  institution under resolution;  

 

         10208387728-v5 - 2 - 70-40708887    (ii) the power to convert eligible liabilities of an institution under resolution  into ordinary shares or other instruments of ownership of that institution  or entity subject to Bail-In Legislation, a relevant parent institution or a  bridge institution to which assets, rights or liabilities of the institution or  the entity subject to Bail-In Legislation are transferred;  (iii) the power to cancel debt instruments issued by an institution under  resolution except for secured liabilities subject to general exclusion from  bail-in tools pursuant to the BRRD; and  (iv) the power to amend or alter the maturity of debt instruments and other  eligible liabilities issued by an institution under resolution or amend the  amount of interest payable under such instruments and other eligible  liabilities, or the date on which the interest becomes payable, including  by suspending payment for a temporary period, except for secured  liabilities subject to general exclusion from bail-in tools pursuant to the  BRRD.  "Base Currency" means euro.   "Base Currency Equivalent" means, at any time in respect of any amount  denominated or expressed in a currency other than the Base Currency, that amount  converted into the Base Currency at the Spot Rate.  "Base Rate" means in respect of any Loan, the rate notified to the Borrower by the  Bank in writing (including, for the avoidance of doubt, by e-mail) prior to drawdown  of that Loan as being the Bank's base lending rate and if that rate is less than zero, the  Base Rate shall be deemed to be zero.  "Blocking Law" means:  (a) any provision of Council Regulation (EC) No 2271/1996 of 22  November 1996 (or any law or regulation implementing such  Regulation in any member state of the EU or the United Kingdom  (including as it forms part of domestic law of the United Kingdom by  virtue of the European Union (Withdrawal) Act 2018));  (b) section 7 of the German Foreign Trade Ordinance  (Außenwirtschaftsverordnung); or  (c) any similar blocking or anti-boycott laws or regulations.  "Break Costs" means the amount (if any) by which:  (a) the interest which the Bank should have received for the period from the  date of receipt of all or any part of a Loan or other unpaid sum to the last  day of the current Interest Period in respect of that Loan or other unpaid  sum, had the principal amount or unpaid sum received been paid on the  last day of that Interest Period;  

 

         10208387728-v5 - 3 - 70-40708887    exceeds:  (b) the amount which the Bank would be able to obtain by placing an  amount equal to the principal amount or unpaid sum received by it on  deposit with a leading bank for a period starting on the Business Day  following receipt or recovery and ending on the last day of the current  Interest Period.  "BRRD" means Directive 2014/59/EU establishing a framework for the recovery and  resolution of credit institutions and investment firms, as amended.  "BRRD Liability" means a liability of the Bank under this Agreement in respect of  which the relevant write down and conversion powers may be exercised.  "Business Day" means:  (a) a day (other than Saturday or Sunday) on which banks are open for  general business in London and Zurich, Switzerland; and  (b) in relation to any date for payment or purchase of a currency other than  the Base Currency, any day on which the principal financial centre of  the country of that currency is open for general business.  "Drawdown Request" means a notice delivered (whether verbally or in writing) by the  Borrower to the Bank which complies with the conditions set out in Clause 5 (Loan).  "Expiry Date" means 31st December 2026 (or such other date on which the Bank  notifies the Borrower in writing that the Agreement is terminated).   "Facility" means the uncommitted money market loan facility made available under  this Agreement, as described in Clause 2 (The Facility).  "Facility Amount" means €100,000,000, to the extent not utilised in any manner,  cancelled or reduced under this Agreement.  "Finance Document" means this Agreement, any written Drawdown Request, any  Guarantee, and any other document designated as such by the Bank and the Borrower.  "Group" means the Parent and each of its Subsidiaries for the time being.  "Guarantee" if applicable, means the guarantee issued by the Guarantor in favour of  the Bank guaranteeing the obligations of the Borrower under this Agreement entered  into on or around the date of this Agreement.  "Guarantor" means AGCO Corporation.   "Holding Company" means, in relation to a person, any other person in respect of  which it is a Subsidiary.  "Interest Period" means:  (a) in respect of dollars, two weeks / one month / three months;  

 

         10208387728-v5 - 4 - 70-40708887    (b) in respect of euro, one week / one month / three months; and  (c) in respect of sterling, one week / one month / two months / three months.  "Loan" means a loan made or to be made under this Facility or the principal amount  outstanding for the time being of that loan.  "Material Adverse Effect" means a material adverse effect on:  (a) the business, operations, property, condition (financial or otherwise) or  prospects of the Group taken as a whole;  (b) the ability of the Borrower and the Group taken as a whole to perform the  payment obligations under any Finance Document; or  (c) the validity or enforceability of any Finance Document or the rights or remedies  of the Bank under any Finance Document.  "Money Laundering Laws" has the meaning give to it in Clause 13.10 (Anti-Money  laundering).  "OFAC" means the Office of Foreign Assets Control of the United States Department  of the Treasury.  "Optional Currency" if applicable, means any currency which is readily available in  the amount required and freely convertible into the Base Currency in the wholesale  market for that currency.  "Parent" means AGCO Corporation.   "Participating Member State" means any member state of the European Union that  has the euro as its lawful currency in accordance with legislation of the European Union  relating to Economic and Monetary Union.  "Relevant Market" means:  (a) in relation to euro, the European interbank market; and  (b) in relation to dollars, the London interbank market.  "Relevant Resolution Authority" means the resolution authority with the ability to  exercise any Bail-in Powers in relation to the BRRD Liability of this Agreement.  "Restricted Party" means a person:  (a) listed on, or owned or controlled (as such terms are used in the relevant guidance  to applicable Sanctions or by any Sanctions Authority) by a person who is listed  on, any Sanctions List;  (b) located in or organised under the laws of a country or territory which is a subject  of country-wide or territory-wide Sanctions, (at the time of this Agreement,  

 

         10208387728-v5 - 5 - 70-40708887    Cuba, Iran, North Korea, Syria, the Crimea region, Sevastopol, Luhansk and  Donezk);  (c) a government, or agency or instrumentality owned or controlled by a  government, of a country or territory referred to in paragraph (b) above; or  (d) otherwise the subject of Sanctions.  "Qualifying Bank" means a person or entity (including any commercial bank or  financial institution (irrespective of its jurisdiction of organization)) which effectively  conducts banking activities with its own infrastructure and staff as its principal business  purpose and which has a banking license in full force and effect issued in accordance  with the banking laws in force in its jurisdiction of incorporation, or if acting through a  branch, issued in accordance with the banking laws in the jurisdiction of such branch.  "Restricted Transaction" has the meaning given to it in Clause 14.7.2.  "Sanctions" means any trade, economic or financial sanctions laws, regulations,  embargoes or restrictive measures administered, imposed, enacted or enforced by a  Sanctions Authority.  "Sanctions Authority" means:  (a) the Security Council of the United Nations;  (b) the United States of America;  (c) the United Kingdom;  (d) the European Union; and  (e) the governments and official institutions or agencies of any of paragraphs (a)  through (d) above, including OFAC, the United States Department of State, Her  Majesty's Treasury and the Department of International Trade of the United  Kingdom.  "Sanctions List" means any of the lists of specially designated nationals or designated  or sanctioned persons issued by any Sanctions Authority, each as amended,  supplemented or substituted from time to time, including the Specially Designated  Nationals and Blocked Persons list maintained by OFAC and the Consolidated List of  Financial Sanctions Targets issued by Her Majesty's Treasury.  "Spot Rate" means in respect of any day, the Bank's spot rate of exchange for the  purchase of the relevant currency with the Base Currency at or about 11 a.m. on a  particular day.  "Subsidiary" means a subsidiary within the meaning of section 1159 of the Companies  Act 2006.  "Swiss Federal Tax Administration" means the tax authorities referred to in Article  34 of the Swiss Federal Act on Withholding Tax of 13 October 1965 (Bundesgesetz  über die Verrechnungssteuer, SR 642.21).  

 

         10208387728-v5 - 6 - 70-40708887    "Swiss Withholding Tax" means the tax levied pursuant to the Swiss Federal Act on  Withholding Tax (Bundesgesetz über die Verrechnungssteuer vom 13. Oktober 1965,  SR 642.21), together with the related ordinances, regulations and the guidelines, all as  amended and applicable from time to time.  "Tax" means any tax, levy, impost, duty or other charge or withholding of a similar  nature (including any penalty or interest payable in connection with any failure to pay  or any delay in paying any of the same).  1.2 Construction   Unless a contrary indication appears, any reference in this Agreement to:  (a) this "Agreement" or any other agreement or instrument is a reference to  this Agreement or other agreement or instrument as amended, novated,  supplemented, extended or restated;  (b) "assets" includes present and future properties, revenues and rights of  every description;  (c) "Bank" shall be construed so as to include its successors in title,  permitted assigns and permitted transferees to, or of, its rights and/or  obligations under the Finance Documents;  (d) a "certified copy" of a document to be produced by or in relation to a  company are references to a copy of that document which has been  certified by an authorised officer of the Borrower as being true, complete  and up-to-date;  (e) a "Finance Document" or any other agreement or instrument is a  reference to that Finance Document or other agreement or instrument as  amended, novated, supplemented, extended or restated;  (f) "indebtedness" includes any obligation (whether incurred as principal  or as surety) for the payment or repayment of money, whether present  or future, actual or contingent;  (g) a "person" includes any individual, firm, company, corporation,  government, state or agency of a state or any association, trust, joint  venture, consortium, partnership or other entity (whether or not having  separate legal personality);  (h) a "regulation" includes any regulation, rule, official directive, request  or guideline (whether or not having the force of law) of any  governmental, intergovernmental or supranational body, agency,  department or of any regulatory, self-regulatory or other authority or  organisation;  (i) a provision of law or regulation is a reference to that provision as  amended or re-enacted; and  (j) a time of day is a reference to London time.  

 

         10208387728-v5 - 7 - 70-40708887    1.2.2 Section, Clause, Schedule and Annex headings are for ease of reference only.  1.2.3 Unless a contrary indication appears, a term used in any other Finance  Document or in any notice given under or in connection with any Finance  Document has the same meaning in that Finance Document or notice as in this  Agreement.  1.3 Third party rights  A person who is not a party has no right under the Contracts (Rights of Third Parties)  Act 1999 to enforce or to enjoy the benefit of any term of this Agreement.  2. THE FACILITY  Subject to the terms of this Agreement, the Bank provides the Borrower with an  uncommitted money market loan facility in an aggregate amount equal to the Facility  Amount.  3. BANK'S DISCRETION  The Bank shall be entitled to either make available, or decline to make available, any  Loan requested by the Borrower in accordance with this Agreement and,  notwithstanding any other provision of the Finance Documents, nothing in any Finance  Document shall commit the Bank to make available any Loan requested by the  Borrower in accordance with this Agreement.  4. CONDITIONS PRECEDENT  4.1 Initial Conditions Precedent  The Borrower may not deliver a Drawdown Request unless the Bank has received the  documents and other evidence specified in Annex 1 in form and substance satisfactory  to it.  5. LOAN   5.1 Without prejudice to Clause 3 (Bank's Discretion), the Borrower may request that the  Bank makes a Loan available to it by providing the Bank not less than 1 Business Day’s  prior notice.   5.2 A Drawdown Request may be made by the Borrower verbally or in writing to the Bank's  Corporate Treasury Sales (Dealer) or in accordance with such other notice details as the  Bank may from time to time advise to the Borrower in writing. The Bank may accept  and rely on telephone or electronic mail communications received by the Bank  purporting to be given by a duly authorised officer of the Borrower.  5.3 Each Drawdown Request shall be irrevocable and must specify (whether verbally or in  writing):  5.3.1 the requested date on which that Loan is to be made (which must be a Business  Day and must be prior to the Expiry Date);  

 

         10208387728-v5 - 8 - 70-40708887    5.3.2 the amount of the requested drawdown of that Loan (which must be at least € 1  million (or its equivalent in any applicable Optional Currency (as calculated in  accordance with the Base Currency Equivalent)) or, if less, the Facility Amount);   5.3.3 the currency of that Loan (which must either be the Base Currency or an  Optional Currency); and   5.3.4 the requested Interest Period of that Loan (which must comply with the Interest  Periods available for selection in respect of that currency as set out in the  definition of Interest Period).  5.4 Only one Loan may be requested in each Drawdown Request.  5.5 A Loan has one Interest Period only.  5.6 The proceeds of each Loan shall be credited to such account(s) as the Borrower shall  from time to time advise the Bank in writing.  6. FACILITY AMOUNT  6.1 The Facility shall be immediately cancelled on the Expiry Date.  Notwithstanding any other rights or remedies available to the Bank and the Borrower's  other obligations under the Finance Documents, the Bank may, at any time, by written  notice to the Borrower cancel the whole or any part of the Facility, whereupon it shall  immediately be cancelled; and/or  6.1.1 declare that all or part of the Loans, together with accrued interest, and all other  amounts accrued or outstanding under the Finance Documents be immediately  due and payable, whereupon they shall become immediately due and payable;  and/or  6.1.2 declare that all or part of the Loans be payable on demand, whereupon they shall  immediately become payable on demand by the Bank.  6.2 If, at any time, the Bank determines for any reason (including, without limitation, as a  result of a change in the Base Currency Equivalent of any Loan) that the Aggregate  Outstandings exceed the Facility Amount (such difference being the "Excess"), the  Bank may (without prejudice to any of its other rights under this Agreement) by notice  to the Borrower require that the Borrower prepays all or part of the Loans in an amount  equal to the Excess within three Business Days of the Bank providing written notice to  the Borrower.  7. REPAYMENT   7.1 The Borrower shall repay each Loan on the last day of its Interest Period.  7.2 Subject always to Clause 10.1, the Borrower may prepay any Loan in whole or in part,  subject to a minimum amount of €1,000,000, by giving the Bank not less than 5  Business Days’ notice.   

 

         10208387728-v5 - 9 - 70-40708887    7.3 The Borrower may make a maximum of 5 prepayments per calendar year, or such  additional number of prepayments as may be agreed between the Borrower and the  Bank.  7.4 Any repayment or prepayment under this Agreement shall be made together with  accrued interest on the amount repaid or prepaid and, subject to any Break Costs,  without premium or penalty.  8. PREPAYMENT AND CANCELLATION  8.1 Illegality   If, in any applicable jurisdiction, it becomes unlawful for the Bank to perform any of  its obligations as contemplated by any Finance Document or to fund or maintain its  participation in any Loan:  8.1.1 the Bank shall promptly notify the Borrower upon becoming aware of that event;  8.1.2 upon the Bank notifying the Borrower, the Facility will be immediately  cancelled; and  8.1.3 the Borrower shall repay each Loan on the last day of the Interest Period  occurring after the Bank has notified the Borrower, or, if earlier, the date  specified by the Bank in the notice delivered to the Borrower.  9. INTEREST  9.1 The Borrower shall pay accrued interest on each Loan on the last day of each Interest  Period.  9.2 The rate of interest on each Loan for each Interest Period is the percentage rate per  annum which is equal to the Base Rate.  9.3 If the Borrower fails to pay any amount payable by it under any Finance Document by  its due date, the Bank shall charge interest on the overdue amount at 2% per annum  higher than the rate which would have otherwise been payable if the overdue amount  constituted a Loan under this Agreement, from the due date up to the date of actual  payment (both before and after judgment). Any interest accruing under this Clause 9.3  shall be immediately payable by the Borrower on demand by the Bank.  10. COSTS  10.1 Break Costs  If any part of any Loan is prepaid or repaid prior to the last day of an Interest Period,  the Borrower will pay to the Bank the Break Costs on demand.  11. PAYMENTS  11.1 Payments  

 

         10208387728-v5 - 10 - 70-40708887    All payments by the Borrower under any Finance Document shall be made, without  set-off or counterclaim and, subject to Clause 11.2 (Grossing-up), free and clear of any  deductions or withholdings in the Base Currency, in same day funds or where the  payment is required by any Finance Document to be made in an Optional Currency, in  immediately available funds (or such others funds as may then be customary for the  settlement of international banking transactions in the relevant currency) on the due  date to the account notified to the Borrower by the Bank for this purpose.  11.2 Grossing-up  If at any time the Borrower is required by law to make any deduction or withholding in  respect of any Taxes from any payment under any Finance Document or in respect of a  Loan, the sum due from the Borrower in respect of such payment shall be increased to  the extent necessary to ensure that, after the making of such deduction or withholding,  the Bank receives on the relevant due date and retains (free from any liability in respect  of such deduction or withholding) a net sum equal to the sum which the Bank would  have received had no such deduction or withholding been required to be made. The  Borrower shall promptly deliver to the Bank receipts, certificates or other proof  evidencing the amounts (if any) paid or payable in respect of any such deduction or  withholding.  11.3 Business Days  11.3.1 Any payment under any Finance Document which is due to be made on a day  that is not a Business Day shall be made on the next Business Day in the same  calendar month (if there is one) or the preceding Business Day (if there is not).  11.3.2 During any extension of the due date for payment of any principal or unpaid  sum under any Finance Document, interest is payable on the principal or unpaid  sum at the rate payable on the original due date.  11.4 Accounts  In any litigation or arbitration proceedings arising out of or in connection with any  Finance Document, the entries made in the accounts maintained by the Bank are prima  facie evidence of the matters to which they relate.  11.5 Certificates and Determinations  Any certification or determination by the Bank of a rate or amount under any Finance  Document is, in the absence of manifest error, conclusive evidence of the matters to  which it relates.  11.6 Day count convention  Any interest, commission or fee accruing under a Finance Document will accrue from  day to day and the amount of any such interest, commission or fee is calculated on the  basis of the actual number of days elapsed and a year of 360 days (or, in any case where  the practice in the Relevant Market differs, in accordance with that market practice).  11.7 Set-Off  

 

         10208387728-v5 - 11 - 70-40708887    11.7.1 The Bank may set off any matured obligation due from the Borrower under any  Finance Document (to the extent beneficially owned by the Bank) against any  matured obligation owed by the Bank to the Borrower, regardless of the place  of payment, booking branch or currency of either obligation. If the obligations  are in different currencies, the Bank may convert either obligation at a market  rate of exchange in its usual course of business for the purpose of the set-off.  11.7.2 All payments to be made by the Borrower under any Finance Document shall  be calculated and be made without (and free and clear of any deduction for) set- off or counterclaim.  11.8 Final Maturity   Without prejudice to Clause 6.1, the Borrower shall repay all outstanding Loans and all  interest, fees and other sums (if any) then owing to Bank no later than the Expiry Date.  12. INCREASED COSTS AND INDEMNITIES  12.1 Increased costs    (i) Not Used.  12.2 Exception to Increased costs   Nothing in Clause 12.1 (Increased costs) shall entitle the Bank to compensation for any  such increased cost, reduction, payment or foregone return to the extent that the same  is the subject of an additional payment under Clause 11.2 (Grossing-up).  12.3 Indemnities  Currency indemnity  12.3.1 If any sum due from the Borrower under any Finance Document (a "Sum"), or  any order, judgment or award given or made in relation to a Sum, has to be  converted from the currency (the "First Currency") in which that Sum is  payable into another currency (the "Second Currency") for the purpose of:  (a) making or filing a claim or proof against the Borrower;  (b) obtaining or enforcing an order, judgment or award in relation to any  litigation or arbitration proceedings,  the Borrower shall as an independent obligation, within three Business Days of  demand, indemnify the Bank against any cost, loss or liability arising out of or  as a result of the conversion including any discrepancy between (A) the rate of  exchange used to convert that Sum from the First Currency into the Second  Currency and (B) the rate or rates of exchange available to that person at the  time of its receipt of that Sum.  12.3.2 The Borrower waives any right it may have in any jurisdiction to pay any  amount under any Finance Document in a currency or currency unit other than  that in which it is expressed to be payable.  

 

         10208387728-v5 - 12 - 70-40708887    12.4 Other indemnities  12.4.1 The Borrower shall, within three Business Days of demand, indemnify the Bank  against any cost, loss or liability incurred by it as a result of:  (a) a failure by the Borrower to pay any amount due under any Finance  Document on its due date;  (b) without prejudice to Clause 3 (Bank's Discretion), funding, or making  arrangements to fund a Loan requested by the Borrower but not made  by reason of the operation of any one or more of the provisions of any  Finance Document (other than by reason of default or negligence by the  Bank alone); or  (c) instructing lawyers, accountants, tax advisers, surveyors or other  professional advisers or experts as permitted under this Agreement in  connection with (a) and (b) above.  12.4.2 The obligations of the Borrower under this Clause will not be affected by any  act, omission, matter or thing which, but for this Clause, would reduce, release  or prejudice any of its obligations under this Clause (without limitation and  whether or not known to it or any other person) including:  (a) any time, waiver or consent granted to, or composition with, the  Borrower;  (b) the release of any other person under the terms of any composition or  arrangement with any creditor or any member of the Group;  (c) the taking, variation, compromise, exchange, renewal or release of, or  refusal or neglect to perfect, take up or enforce, any rights against, or  security over assets of, the Borrower or any non-presentation or non- observance of any formality or other requirement in respect of any  instrument or any failure to realise the full value of any security;  (d) any incapacity or lack of power, authority or legal personality of or  dissolution or change in the members or status of the Borrower;  (e) any amendment, novation, supplement, extension, restatement (however  fundamental and whether or not more onerous) or replacement of any  Finance Document or any other document or security including, without  limitation, any change in the purpose of, any extension of, or any  increase in, any facility or the addition of any new facility under this  Agreement or other document;  (f) any unenforceability, illegality or invalidity of any obligation of any  person under any Finance Document or any other document or security;  or  (g) any insolvency or similar proceedings.  

 

         10208387728-v5 - 13 - 70-40708887    13. REPRESENTATIONS  The Borrower makes the representations and warranties set out in this Clause 13 on the  date of this Agreement.  13.1 Status  13.1.1 It is a company with limited liability, duly incorporated and validly existing  under the law of Switzerland.  13.1.2 It and each of its Subsidiaries has the power to own its assets and carry on its  business as it is being conducted.  13.2 Binding obligations  The obligations expressed to be assumed by it in each Finance Document are legal,  valid, binding and enforceable obligations.  13.3 Non-conflict with other obligations  The entry into and performance by it of, and the transactions contemplated by, the  Finance Documents do not and will not conflict with:  13.3.1 any law or regulation applicable to it;  13.3.2 its or any of its Subsidiaries' constitutional documents; or  13.3.3 any agreement or instrument binding upon it or any of its Subsidiaries or any of  its or any of its Subsidiaries' assets.  13.4 Power and authority  It has the power to enter into, perform and deliver, and has taken all necessary action  to authorise its entry into, performance and delivery of, the Finance Documents and the  transactions contemplated by those Finance Documents.  13.5 Validity and admissibility in evidence  All authorisations required or desirable:  13.5.1 to enable it lawfully to enter into, exercise its rights and comply with its  obligations in the Finance Documents; and  13.5.2 to make the Finance Documents admissible in evidence in its jurisdiction of  incorporation,  have been obtained or effected and are in full force and effect.  13.6 No default  No event or circumstance is outstanding which constitutes a default under any other  agreement or instrument which is binding on it or any of its Subsidiaries or to which its  

 

         10208387728-v5 - 14 - 70-40708887    (or any of its Subsidiaries') assets are subject which might have a Material Adverse  Effect.  13.7 Pari passu ranking  Its payment obligations under the applicable Finance Documents rank at least pari passu  with the claims of all its other unsecured and unsubordinated creditors, except for  obligations mandatorily preferred by law applying to companies generally.  13.8 No proceedings  13.8.1 No litigation, arbitration or administrative proceedings of or before any court,  arbitral body or agency which, if adversely determined, might reasonably be  expected to have a Material Adverse Effect has or have (to the best of its  knowledge and belief) been started or threatened against it or any of its  Subsidiaries.  13.8.2 No judgment or order of a court, arbitral body or agency which might  reasonably be expected to have a Material Adverse Effect has (to the best of its  knowledge and belief) been made against it or any of its Subsidiaries.  13.9 Anti-bribery and anti-corruption  It and, to its knowledge, each of its Subsidiaries, has conducted and is conducting its  and their business in compliance with all Anti-Corruption Laws.  13.10 Anti-Money laundering  13.10.1 It and, to its knowledge, each of its Subsidiaries, has conducted and is  conducting its business in compliance with applicable financial recordkeeping  and reporting requirements and money laundering statutes and the rules and  regulations thereunder and any related or similar rules, regulations or guidelines,  issued, administered or enforced by any governmental agency applicable to, and  binding on, it or any of its Subsidiaries (collectively, the "Money Laundering  Laws");  13.10.2 no action, suit or proceeding by or before any court or governmental agency,  authority or body or any arbitrator involving it or any of its Subsidiaries with  respect to the Money Laundering Laws is pending or, to its knowledge,  threatened; and  13.10.3 no funds or other consideration that it contributes in connection with any  transaction under any Finance Document will have been derived from any  activity that is deemed criminal under Money Laundering Laws.  13.11 Sanctions  To the best of its knowledge, neither it, nor any of its Subsidiaries, nor its or their  directors, officers, agents, employees or Affiliates:  13.11.1 is in breach of any Sanctions;  

 

         10208387728-v5 - 15 - 70-40708887    13.11.2 is a Restricted Party or acts directly or indirectly on behalf of a Restricted Party;  or  13.11.3 has received written notice of any claim, action, demand, proceedings or (to the  best of its knowledge) investigation by a Sanctions Authority with respect to  non-compliance with Sanctions,  other than to the extent that giving, complying with or receiving the benefit of such  representation/warranty would result in a violation of any applicable Blocking Law.  13.12 Ownership  It is wholly beneficially and legally owned by the Parent.  13.13 Repetition  The representations set out in Clauses 13.1 (Status) to 13.12 (Ownership) are deemed  to be repeated by the Borrower by reference to the facts and circumstances then existing  on the date of that Drawdown Request and the first day of each Interest Period.  14. UNDERTAKINGS  The undertakings in this Clause 14 remain in force from the date of this Agreement for  so long as a Loan is outstanding under this Agreement or any part of the Facility  Amount is available for drawing.  14.1 Notifications  The Borrower shall promptly:  14.1.1 supply to the Bank all documents dispatched by the Borrower to its creditors  generally at the same time as they are dispatched;  14.1.2 upon becoming aware of them, notify the Bank of the details of any litigation,  arbitration or administrative proceedings which are current, threatened or  pending against any member of the Group, and which might, if adversely  determined, have a Material Adverse Effect;  14.1.3 upon becoming aware of them, notify the Bank of the details of any judgment  or order of a court, arbitral body or agency which is made against any member  of the Group, and which might have a Material Adverse Effect;   14.1.4 provide the Bank with such further information regarding the financial  condition, business and operations of any member of the Group as the Bank  may reasonably request;  14.1.5 notify the Bank if:  (a) any of its financial indebtedness is not paid when due nor within any  originally applicable grace period;  

 

         10208387728-v5 - 16 - 70-40708887    (b) any of its financial indebtedness is declared to be or otherwise becomes  due and payable prior to its specified maturity as a result of an event of  default (however described); or  (c) any of its creditors becomes entitled to declare any of the Borrower's  financial indebtedness due and payable prior to its specified maturity as  a result of an event of default (however described);  14.1.6 notify the Bank if:  (a) it is or becomes insolvent or ceases or threatens to cease to carry on its  business in the normal course;   (b) any bona fide action is taken (whether by the Borrower or any other  person) which is likely to result in the instigation of a process for or  analogous to the receivership, administration, liquidation or dissolution  of the Borrower; or  (c) any of the assets or undertaking of the Borrower is subject to execution  or attachment;  14.1.7 notify the Bank if the Guarantee or any other guarantee, security or other  document or arrangement relied upon by the Bank in connection with the  Facility ceases to be continuing, or ceases to remain in full force and effect;   14.1.8 notify the Bank of any breach by it of any provision of the Finance Documents;  14.1.9 notify the Bank if any representation or statement made or deemed to be made  by it in the Finance Documents or any other document delivered by or on behalf  of it under or in connection with any Finance Document is or proves to have  been incorrect or misleading in any material respect when made or deemed to  be made; and  14.1.10 notify the Bank if any of the events referred to in Clauses 14.1.5 to 14.1.9 above  occurs in respect of any of Subsidiary of the Borrower or in respect of any  Guarantor.  14.2 "Know your customer" checks  14.2.1 If:  (a) the introduction of or any change in (or in the interpretation,  administration or application of) any law or regulation made after the  date of this Agreement;  (b) any change in the status of the Borrower (or of a Holding Company of  the Borrower) after the date of this Agreement; or  (c) a proposed assignment or transfer by the Bank of any of its rights and  obligations under this Agreement to a party that is not the Bank prior to  such assignment or transfer,  

 

         10208387728-v5 - 17 - 70-40708887    obliges the Bank (or, in the case of paragraph (c) above, any prospective new  lender) to comply with "know your customer" or similar identification  procedures in circumstances where the necessary information is not already  available to it, the Borrower shall promptly upon the request of the Bank supply,  or procure the supply of, such documentation and other evidence as is  reasonably requested by the Bank (for itself or, in the case of the event described  in paragraph (c) above, on behalf of any prospective new lender) in order for  the Bank or, in the case of the event described in paragraph (c) above, any  prospective new lender to carry out and be satisfied it has complied with all  necessary "know your customer" or other similar checks under all applicable  laws and regulations pursuant to the transactions contemplated in the Finance  Documents.  General Undertakings  14.3 Authorisations  The Borrower shall promptly:  (a) obtain, comply with and do all that is necessary to maintain in full force and  effect; and  (b) supply certified copies to the Bank of,  any authorisation required under any law or regulation of its jurisdiction of  incorporation to enable it to perform its obligations under the Finance Documents and  to ensure the legality, validity, enforceability or admissibility in evidence of the Finance  Documents.  14.4 Compliance with laws  The Borrower shall comply in all respects with all laws to which it may be subject, if  failure so to comply would materially impair its ability to perform its obligations under  the Finance Documents.  14.5 Change of business  The Borrower shall procure that no substantial change is made to the general nature of  the business of the Group from that carried on at the date of this Agreement to the extent  that such change would detrimentally affect the performance of its obligations  hereunder.  14.6 Anti-bribery; anti-corruption; anti-money laundering  The Borrower shall and shall procure that each of its Subsidiaries shall:  14.6.1 conduct its business in compliance with Anti-Corruption Laws and Money  Laundering Laws; and  14.6.2 not knowingly use all or part of any proceeds of a Loan, or lend, permit,  contribute or otherwise make available such proceeds to any person in  furtherance of any offer, payment, promise to pay, or authorisation of the  

 

         10208387728-v5 - 18 - 70-40708887    payment or giving of money, or anything else of value, to any person in  violation of any Anti-Corruption Laws and Money Laundering Laws.  14.7 Sanctions  The Borrower shall (and shall require that each member of the Group and each of its  and their directors, officers, agents, employees or Affiliates will):  14.7.1 comply in all respects with applicable Sanctions except where failure to do so  would not reasonably be expected to result in a Material Adverse Effect;  14.7.2 not knowingly use the proceeds of a Loan, directly or indirectly, for the purpose  of, making a loan to, investing in or contributing to any trade, business or other  activities with any Restricted Party (a "Restricted Transaction"), insofar as  such contribution would violate any applicable Sanctions by the Borrower or  the Bank, unless such Restricted Transaction is authorised by the applicable  Sanctions Authority (and so long as Bank can benefit from such authorisation);  and  14.7.3 not knowingly fund all or part of any payment due to the Bank under any  Finance Document out of proceeds derived (directly or indirectly) from business  or transactions with a Restricted Party or from any action which is prohibited  by Sanctions,  other than to the extent that giving, complying with or receiving the benefit of such  undertaking/covenant would result in a violation of any applicable Blocking Law.  14.8 Change of Ownership  The Borrower shall promptly notify the Bank if it is no longer wholly beneficially and  legally owned by the Parent.  15. NOTICES  15.1 Subject to Clause 5.2, any communication to be made under or in connection with the  Finance Documents shall be made in writing and, unless otherwise stated, may be made  by email or letter.  15.2 The address and email address (and the department or officer, if any, for whose  attention the communication is to be made) of each party for any communication or  document to be made or delivered under or in connection with the Finance Documents  is that identified with its name below, or any substitute address or email address or  department or officer as the Borrower may notify to the Bank (or the Bank may notify  to the Borrower) by not less than five Business Days' notice.  15.3 Any communication or document made or delivered by one person to another under or  in connection with the Finance Documents will only be effective:  15.3.1 if by way of email, when received in legible form; or  

 

         10208387728-v5 - 19 - 70-40708887    15.3.2 if by way of letter, when it has been left at the relevant address or three Business  Days after being deposited in the post postage prepaid in an envelope addressed  to it at that address;  and, if a particular department or officer is specified as part of its address details  provided under Clause 15.2, if addressed to that department or officer.  15.4 Any communication or document which becomes effective, in accordance with Clause  15.3 above, after 5:00 p.m. in the place of receipt shall be deemed only to become  effective on the following day.  16. ASSIGNMENT AND TRANSFER  16.1 The Borrower may not assign any of its rights or transfer any its rights or obligations  under the Finance Documents without the prior written consent of the Bank.  16.2 Without the prior written consent of the Borrower, the Bank shall not be entitled to  assign any of its rights or transfer by novation any of its rights and obligations except  in the following circumstances:  16.2.1 the assignment or transfer is to a Qualifying Bank;  16.2.2 all the following conditions are met: (i) the relationship between the Bank and  the other person is that of a debtor and creditor (including in the bankruptcy or  similar event of the Bank or Borrower); and (ii) the other person will have no  proprietary interest in the benefit of this Agreement or in any monies received  by the Bank under or in relation to this Agreement; and (iii) the other person  will under no circumstances (y) be subrogated to, or substituted in respect of,  the Bank's claims under this Agreement; and (z) have otherwise any contractual  relationship with, or rights against, the Borrower under or in relation to this  Agreement; or  16.2.3 the Bank provides a tax ruling of the Swiss Federal Tax Administration  confirming that, upon completion of the contemplated transfer, the Borrower  shall not be required to withhold the Swiss Withholding Tax from payments  hereunder.     17. DISCLOSURE OF INFORMATION  The Bank may disclose to a potential transferee or assignee or to any other person who  may propose entering into contractual relations with the Bank in relation to the Finance  Documents such information about the Borrower, the Borrower's financial affairs and  the terms of the Finance Documents as it shall consider appropriate (subject to  applicable law).  18. PARTIAL INVALIDITY  If, at any time, any provision of this Agreement is or becomes illegal, invalid or  unenforceable in any respect under any law of any jurisdiction, neither the legality,  validity or enforceability of the remaining provisions nor the legality, validity or  

 

         10208387728-v5 - 20 - 70-40708887    enforceability of such provision under the law of any other jurisdiction will in any way  be affected or impaired.  19. RIGHTS AND REMEDIES  No failure to exercise or delay by the Bank in exercising any right or remedy under this  Agreement shall operate as a waiver of any such right or remedy or constitute an  election to affirm this Agreement. No election to affirm this Agreement shall be  effective unless it is in writing. No single or partial exercise of any right or remedy shall  prevent any further or other exercise or the exercise of any other right or remedy. The  rights and remedies provided in this Agreement are cumulative and not exclusive of  any rights and remedies provided by law.  20. ENTIRE AGREEMENT  This Agreement constitute the entire agreement between the parties in relation to the  Facility and supersedes any previous agreement, whether express or implied, regarding  the Facility.  21. COUNTERPARTS  This Agreement may be executed in any number of counterparts, and this has the same  effect as if the signatures on the counterparts were on a single copy of this Agreement.  22. GOVERNING LAW AND JURISDICTION  22.1 This Agreement and any non-contractual obligations arising out of or in connection  with it are governed by English law.  22.2 The courts of England have exclusive jurisdiction to settle any dispute arising out of or  in connection with this Agreement (including a dispute relating to the existence, validity  or termination of this Agreement or any non-contractual obligation arising out of or in  connection with this Agreement) (a "Dispute").  22.2.1 The parties agree that the courts of England are the most appropriate and  convenient courts to settle Disputes and accordingly no party will argue to the  contrary.  22.2.2 Notwithstanding Clause 22.2.1 above, the Bank shall not be prevented from  taking proceedings relating to a Dispute in any other courts with jurisdiction.  To the extent allowed by law, the Bank may take concurrent proceedings in any  number of jurisdictions.  23. CONTRACTUAL RECOGNITION OF BAIL IN  23.1 The Borrower accepts and agrees that a BRRD Liability of the Bank arising under or in  connection to this Agreement, including liabilities arising out from any judgement or  settlement relating to this Agreement, (i) may be subject to the exercise of Bail-in  Powers by the Relevant Resolution Authority, and (ii) acknowledges, accepts, and  agrees:  

 

         10208387728-v5 - 21 - 70-40708887    (a) to be bound by the effect of the exercise of Bail-in Powers by the Relevant  Resolution Authority in relation to any BRRD Liability of the Bank under this  Agreement, that (without limitation) may include and result in any of the  following, or some combination thereof:   (i) the reduction of all, or a portion of, or cancellation of the principal  amount or outstanding amount due, including any accrued but unpaid  interest, in respect of the BRRD Liability;  (ii) the conversion of all, or a portion, of the BRRD Liability into shares or  other instruments of ownership;  (b) to be aware of the Bail-in Powers of the Relevant Resolution Authority in  accordance with the relevant national law transposing those powers;  (c) that the terms of this Agreement may be varied as necessary to give effect to the  exercise of the Bail-in Powers by the Relevant Resolution Authority and that  such variations shall be binding on the Borrower irrespective of its consent;  (d) that the ordinary shares or other instruments of ownership may be issued or  conferred on the Borrower as a result of the exercise of the Bail-in Powers; and  (e) that this Clause is exhaustive on the matters set forth herein to the exclusion of  any other agreements, arrangements or undertaking between the parties to this  Agreement relating to the subject matter of this Agreement.    This Agreement has been entered into on the date stated at the beginning of this  Agreement.   

 

         10208387728-v5 - 22 - 70-40708887    Annex 1  Initial Conditions Precedent  (a) a certified copy of the Borrower's constitutional documents (being pdf- scans of a legalized copy of the current articles of incorporation  (Statuten) of the Borrower and of a legalized commercial register extract  (Handelsregisterauszug));  (b) evidence of the individual’s authority to execute the Finance Documents  on behalf of the Borrower or the Guarantor (as appropriate) and to  perform the transactions contemplated by them;  (c) a specimen of the signature of each person authorised to sign the Finance  Documents to which it is a party on behalf of the Borrower;  (d) a certificate of the Borrower (signed by an authorised signatory)  confirming that borrowing the Facility Amount would not cause any  borrowing or similar limit binding on it to be exceeded;  (e) a certified copy of the Borrower's most recent financial statements;  (f) an executed copy of the Guarantee;   (g) all documents requested by the Bank to enable it to comply with all  required "know your customer" or other similar checks pursuant to any  applicable law or regulation; and  (h) any other opinions, valuations, certificates, assurances or other  documents which the Bank may reasonably require.     

 

         10208387728-v5 - 23 - 70-40708887    SIGNATURES TO UNCOMMITTED MONEY MARKET LOAN FACILITY    Signed for and on behalf of UniCredit Bank AG, London Branch as the Bank    .................................................... Authorised Signatory of the Bank    .................................................... Name    .................................................... Authorised Signatory of the Bank    .................................................... Name  Attention:  Address:  Email:     James Buckle  UniCredit Bank AG, London Branch  Moor House, 120 London Wall, London EC2Y 5ET james.buckle@unicredit.eu Alan John Holmes 

 

         10208387728-v5 - 24 - 70-40708887    Signed for and on behalf of AGCO International GmbH in accordance with its board resolution    .................................................... Managing Officer/Authorized Signatory    ...Frédéric Devienne........................... Name  Attention: AGCO International GmbH  Address:   Victor von Bruns-Str. 17, 8212 Neuhausen am Rheinfall, Switzerland  Email:        Frederic.Devienne@agcocorp.com    .................................................... Managing Officer/Authorized Signatory    ...Konstantin Meier-Kulenkampff........... Name  Attention: AGCO International GmbH  Address:   Victor von Bruns-Str. 17, 8212 Neuhausen am Rheinfall, Switzerland  Email:        Konstantin.Meier-Kulenkampff@agcocorp.com

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