Document:

EX-4.14

 Exhibit 4.14 

EXECUTION VERSION 
 THIS WARRANT AND THE
SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES OR BLUE SKY LAWS OF ANY STATE AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR
HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES (SUBJECT TO THE PROVISIONS OF ARTICLE 5
BELOW), SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION. 
 THIRD CONSOLIDATED, AMENDED AND RESTATED

 WARRANT TO PURCHASE STOCK 

(Dated May 15, 2020) 
  

			
	Issuer:	  	BIOLASE, Inc., a Delaware corporation (the “Company”)
	Warrant No.:	  	SWK-3
	Number of Shares:	  	550,977 (as may be adjusted pursuant to Article 2)
	Warrant Price:	  	$0.39198
	Issue Date:	  	November 9, 2018, May 7, 2019 and May 15, 2020 (as further described
	below)	  	
	Expiration Date:	  	May 15, 2028 (as further described below).

 THIS WARRANT CERTIFIES THAT, for good and valuable consideration, SWK Funding LLC, a Delaware limited
liability company, or its assignees (“Holder”), is entitled to purchase the number of fully paid and non-assessable shares of the Company’s common stock, par value $0.001 per share
(“Common Stock”), set forth above (the “Shares”), at the Warrant Price per Share set forth above, as the same may be adjusted from time to time pursuant to Article 2 of this Warrant (the “Warrant
Price”), subject to the provisions and upon the terms and conditions set forth in this Warrant. On November 9, 2018, Holder was issued warrants to purchase 372,023 of the Shares (the “Initial Warrants”), on May 7, 2019,
Holder was issued additional warrants to purchase 115,175 of the Shares (the “Second Warrants”), and on May 15, 2020, Holder was issued additional warrants to purchase 63,779 of the Shares (the “Third Warrants”). On
the date first set forth above, (i) the Warrant Price of all the Initial Warrants and the Second Warrants, and (ii) the Expiration Date of all the Initial Warrants and the Second Warrants, were each reset as set forth above. The parties
hereto agree that each of the Initial Warrants, the Second Warrants and the Third Warrants are hereby consolidated into this one certificate and amended and restated in their entirety in the form of this Warrant. The originally issued certificates
for the Initial Warrants and the Second Warrants shall be of no further force or effect. 

 ARTICLE 1. 

EXERCISE. 
 1.1 Method
of Exercise. This Warrant is exercisable, in whole or in part, at any time and from time to time on or before May 15, 2028. Holder may exercise this Warrant by substantially the form attached as Appendix 1 to the Company in accordance
with Section 5.7 (or such other office or agency of the Company as it may designate by notice in writing to the Holder in accordance with Section 5.7). Unless Holder is exercising the cashless
exercise right set forth in Section 1.2, Holder shall also deliver to the Company a check, wire transfer (to an account designated by the Company), or other form of payment acceptable to the Company in an amount equal to
the aggregate Warrant Price for the Shares being purchased. Unless otherwise stated in the Notice of Exercise, upon any exercise of this Warrant for less than all of the Shares, such exercised Shares shall first be allocated to the Initial Warrants
to the extent of any remaining Initial Warrants, then to the Second Warrants to the extent of any remaining Second Warrants, and then to the Third Warrants. 

1.2 Cashless Exercise. In lieu of exercising this Warrant as specified in Section 1.1, Holder may from time to
time exercise this Warrant, in whole or in part, by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Shares determined in accordance with the following equation: 

 

							
		  	X	  	=	  	(A - B) x C
		  		  		  	        A
				
	where	  		  		  	
				
		  	X	  	=	  	the number of Shares purchasable upon a “cashless exercise” of the Warrant pursuant to the provisions of this Section 1.2;
				
		  	A	  	=	  	the Fair Market Value (defined below) per share of Common Stock on the date of the “cashless exercise”;
				
		  	B	  	=	  	the Warrant Price for one Share under this Warrant; and
				
		  	C	  	=	  	the number of Shares as to which this Warrant is being exercised pursuant to the provisions of this Article 1.

 If the foregoing calculation results in a negative number or zero, then no Shares shall be issued upon a “cashless
exercise” pursuant to this Section 1.2. If the Holder does not agree with the Fair Market Value per share ultimately determined pursuant to Section 1.3(b) or
Section 1.3(c), the Holder may, in its sole discretion (i) rescind the “cashless exercise”, (ii) pay the aggregate Warrant Price in the form of, at the Holder’s option, (1) a check payable to the
Company or (2) a wire transfer of funds to an account designated by the Company, or (iii) proceed with the “cashless exercise” at the Fair Market Value per Share so determined. In the event that, upon the Expiration Date or other
termination of this Warrant, the Fair Market Value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 is greater than the Warrant Price in effect on such date,
then this Warrant shall automatically be deemed on and as of such date to be exercised pursuant to this Section 1.2 as to all Shares (or such other securities) for which it shall not previously have been exercised and which
are then expiring, and the Company shall promptly deliver a certificate representing the Shares (or such other securities) issued upon such exercise to Holder. 

  
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 1.3 Fair Market Value. For purposes of this Warrant, the “Fair Market
Value” of a Share as of a particular date (the “Determination Date”) shall mean: 
 (a) If the Common Stock is then
publicly listed or quoted on one or more securities exchanges, inter-dealer quotation systems or over-the-counter markets, the fair market value of a Share shall be the
closing price per share of Common Stock reported on the principal such exchange, system or market for the business day immediately before Holder delivers this Warrant together with its Notice of Exercise to the Company. 

(b) If the Determination Date is the date of a liquidation, dissolution or winding up, or any event deemed to be a liquidation, dissolution or
winding up pursuant to the Company’s charter, then the fair market value of a Share shall be equal to all amounts to be payable per share to holders of the Common Stock pursuant to the charter in the event of such liquidation, dissolution or
winding up, assuming for the purposes of this clause (b) that all of the shares of Common Stock then issuable upon exercise of all in-the-money options and warrants are outstanding at the Determination
Date. 
 (c) If the Common Stock is not then publicly listed or quoted on one or more securities exchanges,
inter-dealer quotation systems or over-the-counter markets, then the Board of Directors of the Company (the “Board”) shall determine the fair market
value of a Share in its reasonable good faith judgment; provided, however, if Holder advises the Board in writing that Holder disagrees with such determination, then the Company and Holder shall promptly agree upon a reputable
investment banking firm to undertake such valuation. If the valuation of such investment banking firm results in a fair market value per Share that is more than 15% greater than that determined by the Board, then all fees and expenses of such
investment banking firm shall be paid by the Company. In all other circumstances, such fees and expenses of such investment banking firm shall be paid by Holder. 

1.4 Delivery of Certificate and New Warrant. Promptly after Holder exercises this Warrant and, if applicable, the Company receives
payment of the aggregate Warrant Price, the Company shall deliver to Holder certificates for the Shares acquired and, if this Warrant has not been fully exercised and has not fully expired, a new warrant of like tenor representing a warrant to
purchase the Shares not yet acquired. 
 1.5 Replacement of Warrants. On receipt of evidence reasonably satisfactory to the Company of
the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company or, in the case of mutilation, on surrender
and cancellation of this Warrant, the Company shall execute and deliver a replacement Warrant. 
 1.6 Sale, Merger, or Consolidation of
the Company. For the purpose of this Warrant, “Acquisition” means any sale or other disposition of all or substantially all of the assets of the Company, or any reorganization, consolidation, or merger of the Company where the
holders of the Company’s securities before the transaction beneficially own less than 50% of the outstanding voting securities of the surviving entity after the transaction. Upon the closing of any Acquisition, the successor entity shall assume
the obligations of this Warrant, and this Warrant 

  
 3 

 shall be exercisable for the same securities, cash, and property as would be payable for the Shares issuable
upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on the record date for the Acquisition and subsequent closing, and the Warrant Price shall be adjusted accordingly; provided, however, that if
pursuant to such Acquisition the entire outstanding Shares issuable upon exercise of the unexercised portion of this Warrant are cancelled and the total consideration payable to the holders of such Shares consists entirely of cash, then, upon
payment to the holder of this Warrant of an amount equal to the amount Holder would have received if Holder held Shares issuable upon exercise of the unexercised portion of this Warrant and such Shares were outstanding on the record date for the
Acquisition less the aggregate Warrant Price of such Shares, this Warrant shall be cancelled. 
 ARTICLE 2. 

ADJUSTMENTS TO THE SHARES. 

2.1 Stock Dividends, Splits, Etc. If the Company, at any time while this Warrant is outstanding: (a) pays a dividend on the Shares
payable in Common Stock, (b) subdivides the outstanding Shares into a greater number of Shares, (c) combines (including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares or (d) issues by
reclassification of shares of Common Stock any shares of capital stock of the Company, then in each such case (i) the Warrant Price will be adjusted by multiplying the Warrant Price then in effect by a fraction, the numerator of which equals
the number of shares of Common Stock outstanding immediately prior to such event (excluding treasury shares, if any), and the denominator of which equals the number of shares of Common Stock outstanding immediately after such event (excluding
treasury shares, if any), and (ii) the number of Shares issuable hereunder shall be concurrently adjusted by multiplying such number by the reciprocal of such fraction. Such adjustments will take effect on the effective date of such dividend,
subdivision, combination or issuance by reclassification, as the case may be. The provisions of this Section 2.1 shall similarly apply to successive reclassifications, exchanges, combinations, substitutions,
recapitalizations and reorganizations. 
 2.2 Reserved. 

2.3 Adjustments for Diluting Issuances. In the event that the Company issues (a “Diluting Issuance”) any Additional
Shares of Common Stock (as defined in the Company’s Certificate of Designations, Preferences and Rights of Series C Participating Convertible Preferred Stock (the “Certificate of Designations”), except that Sections
6(c)(ii)(C)(1) and 6(c)(ii)(C)(2) in such definition shall be deleted in their entirety) after the applicable Issue Date set forth above, at a price per Share less than the then Exercise Price, then the Exercise Price shall be adjusted in accordance
with the provisions set forth in Section 6(c) of the Certificate of Designations (the “Provisions”). For purposes of clarity, all references in such Section 6(c) to the “Initial Issue Date” shall mean the
applicable Issue Date, and to the “Conversion Price” shall mean the Exercise Price. The Company agrees that the Provisions, as in effect on the applicable Issue Date, shall be deemed to remain in full force and effect during the term of
the Warrant notwithstanding any subsequent amendment, waiver or termination thereof by the Company’s shareholders. Under no circumstances shall the aggregate Exercise Price payable by Holder upon exercise of the Warrant increase as a result of
any adjustment arising from a Diluting Issuance. 

  
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 2.4 No Impairment. The Company shall not, by amendment of its Certificate of
Incorporation or through a reorganization, transfer of assets, consolidation, merger, dissolution, issue, or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or
performed under this Warrant by the Company, but shall at all times in good faith assist in carrying out of all the provisions of this Article 2 and in taking all such action as may be necessary or appropriate to protect Holder’s rights
under this Article 2 against impairment. If the Company takes any action, a purpose of which is to avoid the observance or performance of any of the terms to be observed or performed under this Warrant by the Company, the Warrant Price shall
be adjusted downward and the number of Shares issuable upon the exercise of this Warrant shall be adjusted upward in such a manner that such action is offset and the aggregate Warrant Price of this Warrant is unchanged. 

2.5 Fractional Shares. No fractional Shares shall be issuable upon exercise of the Warrant and the number of Shares to be issued shall
be rounded down to the nearest whole Share. If a fractional share interest arises upon any exercise of the Warrant, the Company shall eliminate such fractional share interest by paying Holder the amount computed by multiplying the fractional
interest by the Fair Market Value of a full Share. 
 2.6 Certificate as to Adjustments. Upon any adjustment pursuant to this
Article 2, including any adjustments to the Warrant Price or number of Shares that are exercisable under this Warrant, the Company shall promptly notify Holder in writing, and, at the Company’s expense, promptly compute such adjustment,
and furnish Holder with a certificate of its officer setting forth such adjustment and the facts upon which such adjustment is based. 

ARTICLE 3. 
 REPRESENTATIONS,
WARRANTIES AND COVENANTS OF THE COMPANY. 
 3.1 Representations and Warranties. The Company represents and warrants to the Holder
as follows: 
 (a) The Company is a corporation validly existing and in good standing under the laws of the State of Delaware and has all
requisite corporate power and authority to carry on its business as now conducted. 
 (b) This Warrant constitutes the Company’s valid
and legally binding obligation, enforceable in accordance with its terms, except as may be limited by (i) applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors’ rights and
(ii) laws relating to the availability of specific performance, injunctive relief or other equitable remedies. All corporate action has been taken on the part of the Company, its officers, directors, and stockholders necessary for the
authorization, execution and delivery of this Warrant and the issuance of the Shares upon exercise of this Warrant. 

  
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 (d) All Shares which may be issued upon the exercise of this Warrant shall at all times
during the term hereof and prior to exercise in full hereof be duly reserved out of the Company’s authorized and unissued capital stock for issuance upon exercise hereof and shall, upon issuance, be duly and validly issued, fully paid and non-assessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws. 

3.2 No Shareholder Rights; Preemptive Rights. Except as provided in this Warrant, Holder will not have any rights as a shareholder of
the Company until the exercise of this Warrant. The Shares for which this Warrant is exercisable shall at all times be free from preemptive rights and any other rights (or the Company shall have received a valid waiver from all such holders of any
such rights) that would prevent the exercise of this Warrant in full by the Holder. 
 3.3 Valid Issuance. The Company shall take all
steps necessary to ensure that all Shares which may be issued upon the exercise of this Warrant shall, upon issuance, be duly authorized, validly issued, fully paid and nonassessable, free of any liens and encumbrances, and issued to the Holder
without violation of any applicable law or governmental regulation or any requirements of any domestic securities exchange or similar quotation system upon which the Shares may be listed, except for restrictions on transfer provided for herein or
under applicable federal and state securities laws. 
 3.4 Notice of Certain Events. If Company proposes at any time (a) to
declare any dividend or distribution upon its capital stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; (b) to offer for subscription pro rata to the holders of any class or series of its
stock any additional shares of stock of any class or series or other rights; (c) to effect any reclassification or recapitalization of Common Stock; (d) to consummate any Acquisition, or to liquidate, dissolve or wind up the Company; or
(e) offer holders of registration rights the opportunity to participate in an underwritten public offering of the company’s securities for cash, then, in connection with each such event, the Company shall give Holder (1) in the case
of the matters referred to in clauses (a) and (b) above at least 20 days prior written notice of the date on which a record will be taken for such dividend, distribution, or subscription rights (and specifying the date on which the holders of
Common Stock will be entitled thereto) or for determining rights to vote, if any, in respect of the matters referred to in clauses (c) and (d) above; (2) in the case of the matters referred to in (c) and (d) above at least 20 days
prior written notice of the date when the same will take place (and specifying the date on which the holders of Common Stock will be entitled to exchange their Common Stock for securities or other property deliverable upon the occurrence of such
event); and (3) in the case of the matter referred to in (e) above, the same notice as is given to the holders of such registration rights. 

  
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 3.5 Information Rights. So long as Holder holds this Warrant and/or any of the
Shares, the Company shall deliver to Holder (i) promptly, copies of all notices or other written communications to which Holder would be entitled if it held Shares as to which this Warrant was then exercisable, and (ii) within 45 days
after the end of each of the first three quarters of each fiscal year, the Company’s quarterly, unaudited financial statements and within 90 days after the end of each fiscal year, the Company’s annual, audited financial statements;
provided, however, that with regard to annual meeting proxy statements and clause (ii) of this Section 3.5, it is understood and agreed that there shall be no such delivery requirement with respect to any
such proxy statements or financial statements if such documents are available on EDGAR. 
 ARTICLE 4. 

REPRESENTATIONS AND WARRANTIES OF THE HOLDER. 

The Holder represents and warrants to the Company as follows: 

4.1 Purchase for Own Account. This Warrant and the Shares to be acquired upon exercise of this Warrant by Holder are being acquired for
investment for Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution in violation of applicable securities laws. Holder also represents that it has not been formed for the specific purpose of
acquiring this Warrant or the Shares. 
 4.2 Disclosure of Information. Holder has received or has had full access to all the
information it considers necessary or appropriate to make an informed investment decision with respect to this Warrant and its underlying securities. Holder further has had an opportunity to ask questions and receive answers from the Company
regarding the terms and conditions of the offering of this Warrant and its underlying securities and to obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable effort or expense)
necessary to verify any information furnished to Holder or to which Holder has access. 
 4.3 Investment Experience. Holder
understands that the purchase of this Warrant and its underlying securities involves substantial risk. Holder has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic risk
of such Holder’s investment in this Warrant and its underlying securities and has such knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant and its
underlying securities and/or has a preexisting personal or business relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character, business
acumen and financial circumstances of such persons. 
 4.4 Accredited Investor Status. Holder is an “accredited investor”
within the meaning of Regulation D promulgated under the Act. 
 4.5 The Act. Holder understands that this Warrant and the Shares
issuable upon exercise hereof have not been registered under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the Holder’s investment intent as expressed herein.
Holder understands that this Warrant and the Shares issued upon any exercise hereof must be held indefinitely unless subsequently registered under the Act and qualified under applicable state securities laws, or unless exemption from such
registration and qualification are otherwise available. 

  
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 ARTICLE 5. 

MISCELLANEOUS. 
 5.1
Term. This Warrant is exercisable in whole or in part at any time and from time to time on or before the Expiration Date. 
 5.2
Legends. This Warrant and the Shares shall be imprinted with a legend in substantially the following form: 
 THIS WARRANT AND THE
SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND
UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM
REGISTRATION. 
 5.3 Cash Dividends and Cash Distributions. Subject to the other provisions of this
Section 5.3, this Warrant shall at all times represent the Holder’s right to receive the same percentage of any cash dividends or cash distributions made by the Company that would have been received by the Holder if
Holder had fully exercised this Warrant for the full amount of the unexercised Shares immediately prior to the close of business on the day immediately preceding the record date for such dividend. To that end, if the Company at any time or from time
to time after the date hereof declares, orders, pays or makes a cash dividend or other cash distribution on or with respect to its shares of Common Stock, then, and in each such case, the Company shall reserve for, and hold for the benefit of, the
Holder, a dollar amount equal to the amount (without interest) that the Holder would have received if it had fully exercised this Warrant for the full amount of the unexercised Shares immediately prior to the close of business on the day immediately
preceding the record date for such dividend or other cash distribution, and the Holder shall be entitled to receive such amount in full upon the exercise of this Warrant. In lieu of receiving such cash payment, at its sole discretion, the Holder may
choose to have the Warrant Price reduced by the amount of the cash, or value of the other securities or other property payable per share. 

5.4 Compliance with Securities Laws on Transfer. This Warrant and/or the Shares issuable upon exercise of this Warrant may not be
transferred or assigned in whole or in part without compliance with applicable federal and state securities laws by the transferor and the transferee, and in connection with any proposed transfer of this Warrant or the Shares to any Person other
than an Affiliate of the Holder, the transferor shall, if reasonably requested by the Company, deliver a legal opinion of counsel to the transferor (at the transferor’s expense). 

  
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 5.5 Registration Rights. In the event that the Company, at any time prior to the
Expiration Date, proposes to file on behalf of any stockholder or warrantholder a registration statement under the Act on any form (other than a registration statement on Form S-4 or Form S-8) for shares or
warrant shares held by any stockholder or warrantholder, the Company shall provide written notice to the Holder as soon as practicable of such proposed filing, but in no event shall such written notice be given to the Holder later than ten
(10) days prior to the date that the Company intends to file such registration statement, and, subject to the receipt by the Company of any information of the Holder reasonably required to be included in the registration statement, the Holder
shall have the right, in its discretion, to include the Shares of the Holder in such registration statement at the Company’s expense; provided, however, that the Holder shall have no such right with respect to any Shares that cannot be
registered on such registration statement, as a result of the rules and regulations of the Securities and Exchange Commission. All legal and other fees and expenses incurred by the Holder in connection with such registration shall be borne by the
Holder. The Holder shall not, in connection with any such registration, provide any information to the Company that contains any untrue statement of a material fact or fail to state a material fact required to be stated or necessary to make the
statements provided to the Company not misleading, in light of the circumstances in which they were made. 
 5.6 Transfer Procedure.
Subject to the provisions of Section 5.4 and upon providing the Company with written notice, Holder may transfer all or part of this Warrant or the Shares issuable upon exercise of this Warrant to any transferee, provided,
however, in connection with any such transfer, Holder will give the Company notice of the portion of the Warrant being transferred with the name, address and taxpayer identification number of the transferee and Holder will surrender this Warrant to
the Company for reissuance to the transferee(s) (and Holder if applicable). 
 5.7 Notices. All notices and other communications from
the Company to the Holder, or vice versa, shall be in writing and shall be deemed delivered and effective when given personally or mailed by first-class registered or certified mail or by overnight courier, postage prepaid (or on the first business
day after transmission by facsimile), at such address as may have been furnished to the Company or Holder, as the case may be, in writing by the Company or such holder from time to time. 

All notices to Holder shall be addressed as follows until the Company receives notice of a change in address in accordance with this
Section 5.7: 
 SWK Funding LLC 

Attn: Chief Executive Officer 

14755 Preston Road, Suite 105 

Dallas, TX 75254 
 Telephone: 972-687-7250 
 Facsimile:
972- 687-7255 

  
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 With a copy (which shall not constitute notice) to: 

Holland & Knight LLP 

200 Crescent Ct., Suite 1600 

Dallas, TX 75201 
 Telephone: 214-964-9500 
 Facsimile: 214-964-9501 
 Attention: Ryan Magee 

Notice to the Company shall be addressed as follows until Holder receives notice of a change in address in accordance with this
Section 5.7: 
 BIOLASE, Inc. 

Attn: Chief Executive Officer 

4 Cromwell 
 Irvine, CA 92618

 Telephone: 949-361-1200 

Facsimile: 949-365-4913 

With a copy (which shall not constitute notice) to: Sidley Austin LLP 

1 South Dearborn Street 

Chicago, IL 60603 
 Telephone: 312-853-2217; 312-853-7443 

Facsimile: 312-853-7036 

Attention:    Michael A. Gordon 

                    Beth E. Peev 

5.8 Waiver. This Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by
the party against which enforcement of such change, waiver, discharge or termination is sought. 
 5.9 Attorney’s Fees. In the
event of any dispute between the parties concerning the terms and provisions of this Warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable
attorneys’ fees. 
 5.10 Counterparts. This Warrant may be executed in counterparts, all of which together shall constitute one
and the same agreement. 
 5.11 Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the
State of Delaware, without giving effect to its principles regarding conflicts of law. 

  
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 5.12 Provisions for the Benefit of the Lenders. Notwithstanding anything herein to
the contrary, nothing contained in this Warrant shall affect, limit or impair the rights and remedies of SWK in its capacity as a lender to the Company or any of the Company’s subsidiaries pursuant to the Credit Agreement among the Company,
SWK, as Agent, Sole Lead Arranger and Sole Bookrunner, and the financial parties thereto from to time as lenders, dated as of the date hereof, or any other agreements or instruments entered into in connection therewith. Without limiting the
generality of the foregoing, SWK in exercising its rights as a lender will not have any duty to consider (a) its status as a direct or indirect stockholder of the Company and the Company’s subsidiaries, (b) the direct or indirect
ownership of the Shares, or (c) any duty it may have to any other direct or indirect stockholder of the Company and the Company’s subsidiaries, except as may be required under the applicable loan documents. 

[SIGNATURES APPEAR ON NEXT PAGE] 

  
 11 

 IN WITNESS WHEREOF, the undersigned have executed this Warrant as of the day and year first
above written. 
  

			
	“COMPANY”
	
	BIOLASE, INC.
		
	By:	 	 /s/ John R. Beaver

	Name:	 	 John R. Beaver

		 	(Print)
	Title:	 	EVP& CFO

 [Signature Page to Warrant] 

 
			
	
	SWK FUNDING LLC
	
	 By: SWK Holdings Corporation,
 its
sole Manager

		
	By:	 	 /s/ Winston Black

	Name: Winston Black
	Title:   Chief Executive Officer

 [Signature Page to Warrant] 

 APPENDIX 1 

NOTICE OF EXERCISE 
 The undersigned,
pursuant to the provisions set forth in the attached Warrant (No.        ), hereby irrevocably elects to purchase (check applicable box): 

        
                    Shares covered by such Warrant. 

         The undersigned herewith makes payment of the full purchase price for such Shares at the price per
share provided for in such Warrant, which is $                    . Such payment takes the form of (check applicable box or boxes): 

        
$                 in lawful money of the United States; and/or 

         the cancellation of such number of Shares as is necessary, in accordance with the formula set forth in
Section 1.2, to exercise this Warrant with respect to                  Shares (using a Fair Market Value of
$                 per Share for purposes of this calculation) purchasable pursuant to the cashless exercise procedure set forth in
Section 1.2. 
 The undersigned requests that the certificates for such Shares be issued in the name of, and delivered to
                                         
                                         
           whose address
is                                        
                                         
                   
                                    . 

By its execution below and for the benefit of the Company, Holder hereby restates each of the representations and warranties in Article 4 of the
Warrant as of the date hereof. 
  

			
	HOLDER:
	
	  

		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

		
	(Date):	 	  

  
 Appendix 1-1Document

EXHIBIT 10.1
Certain identified information has been excluded from the exhibit because such information both (i) is not material and (ii) would be competitively harmful if publicly disclosed.

Date:               18 June 2020

From:              DBS Bank Ltd., as Agent

To:                   Marina Bay Sands Pte. Ltd., as Borrower 

Dear Sirs

Marina Bay Sands Pte. Ltd.
S$8,671,050,000 Facility Agreement originally dated 25 June 2012 (as amended by an amendment agreement dated 20 November 2013, amended and restated by an amendment and restatement agreement dated 29 August 2014, further amended and restated by a second amendment and restatement agreement dated 14 March 2018, amended by an amendment letter dated 25 March 2019 and further amended and restated by a third amendment and restatement agreement dated 30 August 2019) (the “Facility Agreement”)

1.We refer to: 

(a)the Facility Agreement; and

(b)the amendment request letter dated 4 June 2020 from you to the Lenders (the “Amendment Request Letter”)

2.Unless otherwise defined in this letter, capitalised terms used in this letter refer to such terms as defined in the Facility Agreement and in addition:

“Amended Facility Agreement” means the Facility Agreement, as amended pursuant to this letter.

3.At your request, we are pleased to inform you that the requisite Lenders have agreed, in accordance with paragraph (a) of Clause 36.1 of the Facility Agreement and on the terms and subject to the conditions set out in this letter, to the following amendments to the Facility Agreement:

(a)amend the definition of “Permitted Transaction (Leverage Ratio)” at Clause 1.1 (Definitions) of the Facility Agreement as follows:

““Permitted Transaction (Leverage Ratio)” means any Controlled Transaction:

(a)which is designated by the Borrower as a “Permitted Transaction (Leverage Ratio)”;

(b)where no Default is continuing or would reasonably be expected to result from such Controlled Transaction; and

(c)the amount of which, when aggregated with the amounts of all other Controlled Transactions falling within the description of this definition declared, paid or made in the same financial year of the Borrower, does not exceed the amount specified opposite the relevant ratio set out in the following table in which the ratio of Debt as of the end of each Relevant Period to Consolidated Adjusted EBITDA for such Relevant Period falls (as evidenced by a Compliance Certificate delivered to the Agent on or before the declaration, payment or making of a Controlled Transaction 

falling within the description of this definition, setting out (in reasonable detail) computations as to compliance with the below ratio): 

									
	Date of Controlled Transaction	Ratio of Debt to Consolidated Adjusted EBITDA	Amount
	From the Third Effective Date to 30 June 2020 to the date falling 12 Months after the TOP Date
	Lower than or equal to 4.25 to 1	Unlimited
		Higher than 4.25 to 1 but lower than or equal to 4.50 to 1	S$500,000,000
		Higher than 4.50 to 1	Nil
	Waiver Period	Lower than or equal to 4.25 to 1	Unlimited
		Higher than 4.25 to 1	S$500,000,000
	From 1 January 2022 to the date falling 12 Months after the TOP Date	Lower than or equal to 4.25 to 1	Unlimited
		Higher than 4.25 to 1 but lower than or equal to 4.50 to 1	S$500,000,000
		Higher than 4.50 to 1	Nil
	Thereafter	Lower than or equal to 3.75 to 1	Unlimited
		Higher than 3.75 to 1 but lower than or equal to 4.00 to 1	S$500,000,000
		Higher than 4.00 to 1	Nil

provided that, during the Waiver Period, a transaction may only be designated by the Borrower as a “Permitted Transaction (Leverage Ratio)” if:

(A)it is a Controlled Transaction (Dividends); 

(B)where the ratio of Debt as of the end of the Relevant Period to Consolidated Adjusted EBITDA for such Relevant Period is higher than 4.25 to 1:

1.Liquidity is greater than or equal to S$800,000,000 immediately following such Controlled Transaction (Dividends); and

2.the ratio of Consolidated Adjusted EBITDA to Consolidated Total Interest Expense for such Relevant Period is higher than 3.00 to 1,

in each case, as evidenced by a Compliance Certificate delivered to the Agent on or before the declaration, payment or making of such Controlled Transaction (Dividends), setting out (in reasonable detail) computations as to compliance with the ratios above; and

(C)the Borrower, by not less than three Business Days’ prior written notice to the Agent, notifies the Agent of such proposed Controlled Transaction (Dividends) 

and the Sponsor’s (and/or, as the case may be, the Sponsor Group’s) intended use of the proceeds of such proposed Controlled Transaction (Dividends).

For the purposes of this definition: 

“Controlled Transaction (Dividends)” means a transaction falling within the description of paragraph (a) of the definition of “Controlled Transaction”.

“Liquidity” means, at any time, an amount equal to the aggregate amount of: 

(a)cash which the Borrower beneficially owns at such time; and 

(b)the Available Facility in respect of Facility B at such time.

“Waiver Period” means the period from 1 July 2020 (inclusive) to 31 December 2021 (inclusive).”;

(b)amend paragraph (a) of Clause 4.2A (Conditions subsequent for Facility D) of the Facility Agreement as follows:

“(a) The Borrower may not make a Utilisation under Facility D where the proposed Utilisation Date falls after the date which is 12 Months after the Third Effective Date 30 June 2021 unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions) in form and substance reasonably satisfactory to the Agent. The Agent shall notify the Borrower and the Lenders promptly upon being so satisfied.

(b) For the avoidance of doubt, paragraph (a) above does not apply to any Facility D Loan made or to be made on a Utilisation Date falling on or before 30 June 2021 the date which is 12 Months after the Third Effective Date.”; and

(c)amend Clause 21.1 (Financial covenants) of the Facility Agreement as follows:

“The Borrower shall ensure that:

(a)the ratio of Debt as of each Relevant Date to Consolidated Adjusted EBITDA for each Relevant Period ending on that Relevant Date (other than each of the Relevant Periods ending 30 September 2020, 31 December 2020, 31 March 2021, 30 June 2021, 30 September 2021 and 31 December 2021) will not exceed:

(i)(in respect of each Relevant Date falling on or before the date which is 12 Months after the TOP Date) 4.50 to 1; and

(ii)(in respect of all subsequent Relevant Dates) 4.00 to 1.

(b)the ratio of Consolidated Adjusted EBITDA to Consolidated Total Interest Expense for each Relevant Period (other than each of the Relevant Periods ending 30 September 2020, 31 December 2020, 31 March 2021, 30 June 2021, 30 September 2021 and 31 December 2021) will not be less than 3.50 to 1; and

(c)Consolidated Net Worth will, at all times, be positive (and for the avoidance of doubt, the Borrower shall only be obliged to provide the computations as to 

compliance with this paragraph (c) in the Compliance Certificates supplied to the Agent pursuant to Clause 20.3 (Compliance Certificate)).”.

4.Subject to the Agent’s receipt of the Amendment Fee (as defined below), the amendments in paragraph 3 above shall take effect on and from 18 June 2020 (the “Effective Date”). The Agent shall notify the Borrower and the Lenders promptly upon receipt of the Amendment Fee.

5.Except to the extent expressly amended by the provisions of this letter: 

(a)the terms and conditions of each Finance Document are hereby confirmed and shall remain in full force and effect; and

(b)nothing in this letter shall be construed or take effect as a waiver or release of any right or remedy that any of the Finance Parties have under any Finance Document or any other instruments and agreements executed, delivered or entered into thereunder or pursuant thereto or otherwise.

6.You represent, warrant and confirm to us (as agent of the other Finance Parties) on the date hereof and on the Effective Date that: 

(a)the Security created by the Security Documents extends to the liabilities and obligations of the Obligors under the Amended Facility Agreement and the Intercreditor Agreement and that the obligations of the Obligors arising under or in connection with this letter, the Amended Facility Agreement and the Intercreditor Agreement and the Security Documents constitute obligations secured under the Security Documents; and 

(b)the Security created or conferred under the Security Documents to which you are a party continue in full force and effect on the terms of the respective Security Documents.

7.You make the Repeating Representations of the Facility Agreement on the date of this letter and the Effective Date, by reference to the facts and circumstances then existing, but as if references in the Repeating Representations of the Facility Agreement to “the Transaction Documents” includes this letter and the Amended Facility Agreement. 

8.You confirm that: 

(a)the amendment fee referred to in paragraph 5 of the Amendment Request Letter payable to each Lender which consents to your amendment request in the Amendment Request Letter by 12.00 p.m. (Singapore time) on 18 June 2020 (each, a “Consenting Lender”) is an amount in Singapore Dollars which is [***]. flat on the aggregate amount of that Consenting Lender’s Commitments as at 12.00 p.m. (Singapore time) on 18 June 2020 (the “Amendment Fee”) and such sum shall be paid to us for distribution to that Consenting Lender;

(b)the Amendment Fee is non-refundable and shall be payable by you to us by 12:00 p.m. (Singapore time) on 19 June 2020 for the account of each Consenting Lender, in consideration of the Consenting Lenders agreeing to the amendments in paragraph 3 above; and

(c)the Amendment Fee shall be payable together with any applicable goods and services tax payable thereon.

9.We confirm that we will inform you of the numerical amount of the Amendment Fee by no later than 5.00 p.m. (Singapore time) on 18 June 2020.

10.Payment of the Amendment Fee shall be made by you to the account set out below, or to such other account as we may from time to time specify:

Account Bank:           

Swift Code:                 

Account Name:           

Account No:                

Ref:                             

Attention:                     

11.This letter is designated a Finance Document.  

12.Unless expressly provided to the contrary in this letter, a person who is not a party to this letter has no right under the Contracts (Rights of Third Parties) Act, Chapter 53B of Singapore to enforce or enjoy the benefit of any term of this letter. Notwithstanding any term of this letter, the consent of any third party is not required for any variation (including any release or compromise of any liability under) or termination of this letter.

13.This letter 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 letter.

14.This letter is governed by Singapore law.

Yours sincerely,
for and on behalf of

DBS Bank Ltd.
(as Agent)

						
		
		
	 /s/ CHAN KIM LIM
	
	Name:	Chan Kim Lim
	Title:	Senior Vice President
		
		
		
	 /s/ CELINE KOH
	
	Name:	Celine Koh
	Title:	Vice President

Accepted and Agreed

For and on behalf of

Marina Bay Sands Pte. Ltd.
(as Borrower)

						
		
		
	/s/ SUZIE TAN SZE SZE
	
	Name:	Tan Sze Sze, Suzie
	Title:	Senior Vice President of Finance
		
	Date:	18 June 2020

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