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Exhibit 10.27

        GUARANTY

THIS GUARANTY OF LEASE (“Guaranty”) is made as of October 13, 2021, by AMYRIS, INC., a Delaware corporation (“Guarantor”), for the benefit of CP LOGISTICS NVCC IV, LLC, a Delaware limited liability company (“Landlord”).

RECITALS

A.RENFIELD MANUFACTURING LLC, a Delaware limited liability company, is Tenant under that certain lease (the “Lease”) with Landlord dated October 13, 2021, respecting certain premises (the “Premises”) located at 9575 N. Virginia Street, Reno, NV 89506, and described more particularly in the Lease.

B.As a condition to entering into the Lease, Landlord requires that Guarantor guarantees the full performance of the obligations of Tenant under the Lease.

C.Guarantor will receive substantial benefit from the Lease and desires that Landlord and Tenant enter into the Lease.

D.All initially capitalized terms not otherwise defined in this Guaranty shall have the meanings set forth in the Lease, unless the context clearly indicates otherwise.

NOW, THEREFORE, in consideration of the execution of the Lease by Landlord and other valuable consideration, the receipt and adequacy of which are hereby acknowledged, Guarantor covenants and agrees as follows:

AGREEMENT

1.Guarantee. Guarantor hereby absolutely and unconditionally guarantees (a) the full and faithful performance of all of the covenants, conditions, agreements and undertakings of Tenant to be kept and performed by Tenant under the Lease including, but not limited to, the payment when due of all Rent, Additional Rent, property taxes, insurance, and other sums payable by Tenant to Landlord under the Lease, and (b) the payment of all damages owing to Landlord by Tenant after the termination of the Lease or the exercise by Landlord of any other right or remedy of Landlord following a default by Tenant under the Lease (collectively the “Obligations”). Guarantor understands and agrees that this Guaranty is unconditional and continuing, and is a guaranty of payment and performance and not of collection.

2.Independent Obligation. The liability of Guarantor hereunder is independent of the obligation of Tenant or any other person or entity and a separate action or separate actions may be brought and prosecuted against Guarantor whether or not any action is brought or prosecuted against Tenant or whether Tenant is joined in any such action or actions. The release of, or
			
	

cancellation by, any signer of a similar instrument shall not act to release or otherwise affect the liability of Guarantor hereunder.

3.Modification to Lease. Guarantor’s obligations under this Guaranty shall not be extinguished, discharged, diminished or reduced in any way by any modification or amendment of the Lease including, but not limited to, any extension of the Lease Term, any relocation or substitution of Premises, any increase or decrease in the size of the Premises, any modification of payment dates or amounts, or any subsequent sublease or assignment of the Lease made with or without the consent of Landlord. Guarantor hereby waives any right to approve any modification or amendment of the Lease. Notwithstanding the foregoing, this Guaranty shall not apply during any Option Term (as defined in the Lease) unless Guarantor has delivered to Landlord an instrument in writing approving Tenant’s exercise of the Renewal Option (as defined in the Lease) for such Option Term.

4.Remedies. If, after demand from Landlord and subject to Section 33 of the Lease, Guarantor fails to perform any obligation under this Guaranty of Lease, then in addition to all other remedies provided at law or in equity, from time to time and without first requiring performance on the part of Tenant, and without being required to exhaust or proceed against any or all security held by Landlord for the performance of Tenant under the Lease, Landlord may enforce its rights to require performance by Guarantor of any or all of the obligations on the part of Guarantor to be performed under this Guaranty by action at law or in equity, or both.

5.No Waiver. No failure on the part of Landlord to pursue any remedy under this Guaranty or under the Lease shall constitute a waiver on the part of Landlord of its right to pursue such remedy on the basis of the same or a subsequent default.

6.Waiver of Exoneration. Except as provided in Section 33 of the Lease, Guarantor waives any right to require Landlord to (a) proceed against Tenant, (b) proceed against or exhaust any security held from Tenant, (c) pursue any other right or remedy available to Landlord or (d) have the property of Tenant first applied to the discharge of the Obligations. Guarantor further waives any defense it may acquire by reason of Landlord’s election of any remedy against Guarantor or Tenant, or both.

7.Waiver of Subrogation. Until the obligations of Tenant under the Lease have been performed in full, Guarantor shall have no right of subrogation against Tenant arising from Guarantor’s performance of Tenant’s obligations under the Lease, and Guarantor hereby expressly waives any right to enforce any remedy which Landlord now has or may hereafter acquire against Tenant. Guarantor hereby waives the benefit of, and any right to participate in, any security now or hereafter held by Landlord for the performance of the obligations of Tenant under the Lease.

8.Waiver of Presentments. Except as provided in Section 33 of the Lease, Guarantor waives all presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, and notices of acceptance of this Guaranty and waives all notices of the existence, creation, or incurring of new or additional obligations.

			
	

9.Other Guarantor Waivers. Without limiting the generality of the preceding paragraphs, but subject to Section 33 of the Lease, Guarantor hereby waives all rights and defenses to:

(a)All defenses by reason of any lack of authority of Tenant, or based on any statute of limitations respecting obligations accruing under the Lease or this Guaranty;

(b)Any and all rights it may have now or in the future to require or demand that Landlord pursue any right or remedy Landlord may have against Tenant or any other third party;

(c)Any defense arising as a result of Guarantor’s election of the application of Section 1111(b)(2) of the Bankruptcy Code or based on any borrowing or grant of a security interest under Section 364 of the Bankruptcy Code;

(d)Any defense as a surety arising under applicable law;

(e)Any duty or obligation of Landlord to disclose to Guarantor any facts Landlord may now or hereafter know about Tenant, regardless of whether Landlord has reason to believe that any such facts materially increase the risk beyond that which Guarantor intends to assume or has reason to believe that such facts are unknown to Guarantor or has a reasonable opportunity to communicate such facts to Guarantor, it being understood and agreed that Guarantor is fully responsible for being and keeping informed of the financial condition of Tenant and of any and all circumstances bearing on the risk of nonperformance of any Obligation; and

(f)Any defense based upon an election of remedies by Landlord, including any election which destroys or impairs any right of subrogation, reimbursement of contribution which Guarantor may have, or any rights or benefits under any provisions of the law (of the state in which the Premises is located) in any way qualifying, conditioning or limiting the obligations of Guarantor based on any steps or procedures that landlords should take before proceeding against Guarantor.

10.Bankruptcy. This Guaranty will continue unchanged by any bankruptcy, reorganization or insolvency of Tenant, or any successor or assignee thereof, or by any disaffirmance or abandonment by a trustee of Tenant. Notwithstanding any modification, discharge or extension of the indebtedness or any amendment, modification, stay or cure of Landlord’s rights which may occur in any bankruptcy or reorganization case or proceeding concerning Tenant whether permanent or temporary, and whether assented to by Landlord, Guarantor hereby agrees that it shall be obligated hereunder to pay and perform the Obligations in accordance with the terms of the Lease and the terms of this Guaranty.   Guarantor understands and acknowledges that by virtue of this Guaranty, Guarantor has specifically assumed any and all risks of a bankruptcy or reorganization case or proceeding with respect to Tenant.

11.Assignment of Lease. As used herein, the term “Landlord” shall include any successor, assignee or transferee of Landlord. Guarantor agrees that Landlord may, without notice to Guarantor, assign the Lease and this Guaranty in whole or in part, and that no such assignment or

			
	

transfer of the Lease and/or this Guaranty shall operate to extinguish or diminish the liability of Guarantor under this Guaranty.

12.Obligations of Guarantor Are Primary. Guarantor agrees that the liability of Guarantor under this Guaranty shall be primary and that in any cause or right of action which shall accrue to Landlord under this Guaranty, Landlord may, at its sole option but subject to Section 33 of the Lease, proceed against Guarantor without having commenced any action, or having obtained any judgment, against Tenant. If Landlord has any enforceable right against Tenant upon termination of the Lease, Landlord shall be entitled to enforce those rights against Guarantor without giving prior notice to Tenant or Guarantor, and without making any demand on either of them.

13.Attorneys’ Fees. In addition, in the event of any dispute between the parties arising under this Guaranty, or the breach of any covenant or condition under this Guaranty, then the prevailing party shall be entitled to have and recover from the party not so prevailing the attorneys’ fees and costs incurred by the prevailing party, whether such fees and costs are incurred in taking any action under this Guaranty, or in any judicial proceeding (including appellate proceeding). “Prevailing party” for the purposes of this Section shall include, without limitation, the party who receives from the other party the sums allegedly due, performance of the covenants allegedly breached, consideration substantially equal to that which was demanded, or substantially the relief or consideration sought in any judicial proceeding whether or not such proceeding is prosecuted to final judgment, or a party who dismisses a judicial action in return for substantially the performance or relief sought or the payment of the sums allegedly due.

14.Time of the Essence. Time is of the essence with respect to the performance of each and every provision of this Guaranty.

15.Governing Law.   This Guaranty shall be construed and interpreted in accordance with the laws of the state in which the Premises is located.

16.Captions. The captions and paragraph numbers appearing in this Guaranty are inserted only as a matter of convenience and are not to be used to interpret this Guaranty.

17.Examination of Lease. Guarantor acknowledges that it has: (a) received a copy of the Lease; (b) read and understood the terms and provisions of the Lease including, but not limited to, the covenants, conditions, agreements and undertakings of Tenant to be kept and performed by Tenant under the Lease; (c) read and understood the provisions of this Guaranty; and (d) understood the obligation of Guarantor under this Guaranty, including the legal effect of such obligations and has been advised by legal counsel respecting such obligations.

18.Binding to Successors. Guarantor shall not assign any of its obligations hereunder by operation of law or otherwise, and any attempted assignment shall, at Landlord’s sole option, be void. Subject to the foregoing, the obligations of Guarantor under this Guaranty shall be binding on Guarantor’s successors.

19.Guaranty Subject to Section 33 of Lease. Notwithstanding any other provision of this Guaranty, this Guaranty and Guarantor’s obligations hereunder are expressly subject to the provisions of Section 33 of the Lease.
			
	

IN WITNESS WHEREOF, Guarantor has executed this Guaranty as of the date first herein above set forth.

“GUARANTOR”

AMYRIS, INC.,
a Delaware corporation

By:         /s/John Melo     Name:        John Melo
Title:    Chief Executive Officer

Tax I.D. No. 
Address: 5885 Hollis Street, Suite 100
   Emeryville, CA 94608Document

			
	Exhibit 4.2

DESCRIPTION OF THE REGISTRANT’S SECURITIES
REGISTERED PURSUANT TO SECTION 12 OF THE
SECURITIES EXCHANGE ACT OF 1934

As of December 31, 2021, the Federal Home Loan Bank of Des Moines ( the “Bank”) has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”): our Class B Stock, par value $100 per share (the “Class B Stock”), which is registered under Section 12(g) of the Exchange Act.

Description of Class B Stock
The following description of our Class B Stock is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference to the Organization Certificate of the Federal Home Loan Bank of Des Moines, as amended and restated effective May 31, 2015 (the “Organization Certificate”), the Bylaws of the Federal Home Loan Bank of Des Moines, as amended and restated effective December 8, 2021 (the “Bylaws”) and the Federal Home Loan Bank of Des Moines Capital Plan, as amended, approved by the Federal Housing Finance Agency on May 31, 2015 (the “Capital Plan”), each of which are incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this Exhibit 4.2 is a part. We encourage you to read the Organization Certificate, the Bylaws, the Capital Plan and the applicable provisions of the Federal Home Loan Bank Act, as amended (the “FHLBank Act”), and related regulations of the Federal Housing Finance Agency (the “Finance Agency”) for additional information.

General

The Federal Home Loan Banks (“FHLBanks”), including the Bank, have a unique cooperative structure. To access Bank products and services, a financial institution must be approved for membership and purchase our capital stock. The members’ stock requirement is based on the amount of total assets on the member’s balance sheet and its use of certain Bank products, as prescribed by the FHLBank Act; this reflects the value of having ready access to the Bank as a reliable source of low-cost funds. 

Under the Capital Plan, our Class B Stock consists of two sub-classes: membership stock and activity-based stock. Membership stock is required to be purchased and held as a condition of membership in the Bank. Activity-based stock is required to be purchased and held in order to obtain an advance and/or engage in other transactions with the Bank. 

We may issue Class B Stock only in accordance with the terms of the Capital Plan and the regulations of the Finance Agency. We may issue Class B Stock only to members.

The shares of Class B Stock offered to members are only issued at par value and do not trade in any market. Redemptions and repurchases of such stock by the Bank, and any transfers of such stock, are also only made at par value.

Each Bank member is required to maintain a certain minimum investment in our Class B Stock. The minimum investment is determined by a membership stock purchase requirement (the “Membership Stock Purchase Requirement”) and an activity-based stock purchase requirement (the “Activity Stock Purchase Requirement” and, together, the “Minimum Stock Investment Requirement”). Each member is required to maintain a certain minimum investment in membership stock for as long as the institution remains a Bank member. In addition, each member is required to purchase activity-based stock in proportion to the volume of certain transactions between the member and the Bank. We may adjust these investment requirements from time to time within the limits established in the Capital Plan. 

Voting Rights for Election of Directors

Our Board of Directors (the “Board”) is comprised of member directors elected by our member institutions on a state-by-state basis and independent directors elected by all of our members.  The Board includes 13 member directors and nine independent directors, two of whom serve as public interest directors. Under the FHLBank Act, the only matters submitted to shareholders for votes are (i) the annual election of our directors and (ii) any proposed agreement to merge with one or more FHLBanks.  

Member directorships are allocated by the Finance Agency to the 13 states in our district and a member institution is eligible to participate in the election for the state in which it is located. Candidates for member directorships are not nominated by the Board. As provided for in the FHLBank Act, member director candidates are nominated by the members eligible to participate in the election in the relevant state.  Independent director candidates are nominated by the Board. 

Voting rights with regard to the election of directors are set forth in 12 C.F.R. Part 1261. Each member is eligible to vote for the number of open member director seats in the state in which its principal place of business is located and any open independent director seats.  Each member is entitled to cast one vote for each share of Class B Stock that the member was required to hold under the Capital Plan as of a record date of December 31 of the year preceding the election date, except that the number of votes that each member may cast for each directorship shall not exceed the average number of shares of Class B Stock that were required to be held by all members located in that state on the record date. No shares of Class B Stock have any voting preference. We annually calculate each member’s Minimum Stock Investment Requirement for purposes of determining its voting shares based on its preceding December 31st balance sheet, outstanding advances, and any other activity or product that requires a capital stock purchase under the Capital Plan. Member directors are elected based on the votes of the members whose principal place of business is located in a particular state. Independent directors are elected based on votes of the members at large.

Redemption Rights

From time to time, we may issue or repurchase Class B Stock to or from new members, current members, or former members or their successors in accordance with the Capital Plan, and as necessary to allow the Bank to satisfy the minimum capital requirements established by the FHLBank Act. The Class B Stock issued or repurchased may be membership stock, activity-based stock, or both.

Under the FHLBank Act and related Finance Agency regulations, Class B Stock is subject to redemption upon the expiration of a five-year redemption period (the “Stock Redemption Period”). Only Class B Stock in excess of the Minimum Stock Investment Requirement of a member or former member (including successors) may be redeemed at the end of the Stock Redemption Period. Further, we may repurchase excess activity-based and membership stock in our sole discretion, without regard to any redemption period. However, there is no guarantee that a member will be able to redeem its investment even at the end of a Stock Redemption Period. If the redemption of Class B Stock, or the repurchase of such stock by the Bank, would cause us to fail to meet our minimum regulatory capital requirements, then such redemption or repurchase would be prohibited. Likewise, we would not honor a redemption request if such redemption would cause the member to fail to maintain its required Minimum Stock Investment Requirement.

We may also decide to suspend the redemption of Class B Stock if we reasonably believe that such redemption would cause us to fail to meet our minimum regulatory capital requirements, would prevent the Bank from maintaining adequate capital against a potential risk or would otherwise prevent the Bank from operating in a safe and sound manner. In addition, approval from the Finance Agency for redemptions or repurchases would be required if the Finance Agency or the Board were to determine that the Bank has incurred, or is likely to incur, losses that result in, or are likely to result in, charges against the Bank’s capital. Under such circumstances, there can be no assurance that the Finance Agency would grant such approval or, if it did, upon what terms it might do so.

Accordingly, notwithstanding the expiration of the Stock Redemption Period, there are a variety of circumstances that would preclude the Bank from redeeming or repurchasing the Class B Stock of a member. Since there is no public market for the Class B Stock and transfers of Class B Stock between members are generally prohibited under the Capital Plan, there can be no assurance that a member’s purchase of Class B Stock would not effectively become an illiquid investment in the Bank.

Increases in the Minimum Amount of Class B Stock Required to be Purchased 

Under the Capital Plan, the Board may increase the Minimum Stock Investment Requirement of members within certain specified ranges.  The Minimum Stock Investment Requirement may also be increased pursuant to an amendment to the Capital Plan, which must be approved by the Finance Agency. The Bank must provide members with notice prior to the effective date of any increase in their Minimum Stock Investment Requirement. Under the Capital Plan, members are required to purchase additional Bank stock as necessary to comply with such new requirements.

Limitations on Payment of Dividends

Under the FHLBank Act and Finance Agency regulations, we may pay dividends on our stock only out of previously retained earnings or current net earnings. However, we may not pay dividends to members if, after doing so, we would fail to meet minimum regulatory capital requirements. Moreover, we may not pay dividends if any principal and interest due on our consolidated obligations have not been paid in full.

Capital Plan Amendments Subject to Finance Agency Approval

The Finance Agency must approve all amendments to the Capital Plan before they may become effective. Such amendments to the Capital Plan are not subject to member consent or approval. While amendments must be consistent with the FHLBank Act and Finance Agency regulations, it is possible that they would result in changes to the Capital Plan that could adversely affect the rights and obligations of members.

Vote on Voluntary Merger

In the event of a voluntary merger between the Bank and another FHLBank, applicable regulatory rules require that the merger agreement be ratified a majority of votes cast in favor of ratification by Bank members.

Each Bank member that is entitled to participate in the voting will be able to vote the shares representing the member’s Minimum Stock Investment Requirement held by the member on the record date, subject to the limitation that no member may cast a number of votes that exceeds the average number of shares representing the Minimum Stock Investment Requirement of all Bank members entitled to vote, calculated on a district-wide basis, as of the record date.

Uncertain Impact of a Liquidation, Merger or Consolidation of the Bank

Under the FHLBank Act, holders of Class B Stock own the retained earnings, surplus, undivided profits, and equity reserves of the Bank.  The Capital Plan provides with respect to a liquidation that after payment of creditors, all Class B Stock will be redeemed at par. Any remaining assets will be distributed to stockholders in proportion to their stock holdings relative to the total outstanding Class B Stock of the Bank. Under the Capital Plan, in the event the Bank is merged or consolidated into another FHLBank, the holders of the outstanding Class B Stock of the Bank will be entitled to the rights and benefits determined by the Board and set forth in any applicable plan of merger, subject to any terms and conditions imposed by the Finance Agency.

However, the Finance Agency has the statutory authority to prescribe regulations or orders governing liquidations or reorganizations of an FHLBank that may modify, restrict or eliminate any of the rights set forth above. We cannot predict how the Finance Agency might exercise its authority with respect to liquidations or reorganizations or whether any actions taken by the Finance Agency in this regard would be inconsistent with the provisions of the Capital Plan or the rights of holders of Class B Stock in the Bank’s retained earnings.

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