Document:

ex_101803.htm

Exhibit 10.1

 

 

INTERIM AMENDMENT TO FIRST AMENDED AND RESTATED CREDIT AGREEMENT

 

This agreement dated as of December 5, 2017 is made among:

 

TUCOWS.COM CO.

TING FIBER, INC.

TING INC.

TUCOWS (DELAWARE) INC. and

TUCOWS (EMERALD), LLC

(as Borrowers)

 

- and -

 

TUCOWS INC.

(as a Guarantor)

 

- and -

 

THE LENDERS PARTY TO THIS AGREEMENT

(as Lenders)

 

- and -

 

BANK OF MONTREAL

as Administrative Agent

 

 

WHEREAS the undersigned are parties to the first amended and restated credit agreement dated January 20, 2017, as amended prior to the date hereof (the "Credit Agreement");

 

NOW THEREFORE for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each party, the parties agree as follows:

 

	
			1.

				
			Terms used herein as defined terms shall have the respective meanings ascribed thereto in the Credit Agreement, unless otherwise defined herein.

			

 

	
			2.

				
			In Section 1.01 of the Credit Agreement the term "MasterCard Line" is hereby deleted.

			

 

	
			3.

				
			The following defined term is hereby added to Section 1.01 of the Credit Agreement:

			

 

“BMO/BNS Credit Card Facilities” means credit facilities or lines of credit which may be established from time to time by Bank of Montreal and The Bank of Nova Scotia, respectively, for all or any of the Borrowers, under which the applicable Lender may in its sole discretion issue credit cards to the Companies’ employees for corporate purposes, including purchasing supplies and funding miscellaneous business expenses.

 

 

 

 

	
			4.

				
			The defined term "Obligations" in Section 1.01 of the Credit Agreement is hereby amended to read as follows:

			

 

“Obligations” means, at any time and without duplication: (i) all direct and indirect, contingent and absolute indebtedness, obligations and liabilities of the Companies to the Agent and the Lenders (or if the context requires, to any Lender) under or in connection with this Agreement and the Loan Documents (specifically including for greater certainty all Guarantees provided hereunder) at such time, specifically including the Outstanding Advances, all accrued and unpaid Interest thereon, and all fees, expenses and other amounts payable pursuant to this Agreement and the Loan Documents; plus (ii) indebtedness outstanding under the BMO/BNS Credit Card Facilities at such time not in excess of the aggregate amount of Five Million Dollars ($5,000,000) plus any accrued and unpaid interest thereon; plus (iii) the Hedging Obligations (if any) at such time; plus (v) any obligations under Service Agreements at such time; provided that if otherwise specified or required by the context, “Obligations” shall mean any portion of the foregoing.

 

	
			5.

				
			The foregoing amendments shall also be reflected in the next formal amendment to the Credit Agreement.

			

 

	
			6.

				
			This agreement shall be interpreted in accordance with the laws of the Province of Ontario. Without prejudice to the right of the Agent and the Lenders to commence any proceedings with respect to this agreement in any other proper jurisdiction, the parties hereby attorn and submit to the non-exclusive jurisdiction of the courts of the Province of Ontario.

			

 

	
			7.

				
			This agreement may be executed in several counterparts, each of which, when so executed, shall be deemed to be an original and which counterparts together shall constitute one and the same agreement. This agreement may be executed by facsimile or pdf, and any signature contained hereon by facsimile or pdf shall be deemed to be equivalent to an original signature for all purposes.

			

 

	
			8.

				
			This agreement shall be binding upon and shall enure to the benefit of the parties and their respective successors and permitted assigns; "successors" includes any corporation resulting from the amalgamation of any party with any other corporation.

			

 

 

[the remainder of this page is intentionally blank; signature pages follow]

 

2

 

 

IN WITNESS WHEREOF the parties hereto have executed this agreement.

 

 

 

	
			TUCOWS INC. 

				 	
			TING FIBER, INC.

			
	 	 	 	 	 
	
			By:

				/s/ Davinder Singh	 	By:	
			/s/ Davinder Singh

			
	 	
			name: Davinder Singh

			title: CFO

				 	 	
			name: Davinder Singh

			title: CFO

			

 

 

 

	
			TUCOWS.COM CO.

				 	
			TING INC.

			
	 	 	 
	
			By:

				/s/ Davinder Singh	 	By:	
			/s/ Davinder Singh

			
	 	
			name: Davinder Singh

			title: CFO

				 	 	
			name: Davinder Singh

			title: CFO

			

 

 

 

	
			TUCOWS (DELAWARE) INC.

				 	
			TUCOWS (EMERALD), LLC

			by its sole member, TING FIBER, INC.

			
	By:	/s/ Davinder Singh	 	 	 
	
			 

				
			name: Davinder Singh

				 	
			By:

				
			/s/ Davinder Singh

			
	 	
			title: CFO

				 	 	
			name: Davinder Singh

			title: CFO

			

 

 

 

[signatures continued on next page]

 

3

 

 

 

	
			BANK OF MONTREAL, as Administrative Agent

				 	
			BANK OF MONTREAL, as a Lender

			
	 	 	 
	
			By:

				
			/s/ Francois Wentzel

				 	
			By:

				
			/s/ Jennifer Holdsworth

			
	 	
			name: Francois Wentzel

			title: Managing Director

				 	 	
			name: Jennifer Holdsworth

			
			title: Associate

			

			
	 	 	 	 	 
	
			By:

				/s/ Allen Benjamin	 	By:	
			/s/ Aditya Sapru

			
	 	
			name: Allen Benjamin

			title: Director, Loan Syndications

				 	 	
			name: Aditya Sapru

			
			title: Managing Director

			

			
	 	 	 	 	 
	
			BANK OF MONTREAL, Chicago Branch, as a Lender

				 	ROYAL BANK OF CANADA, as a Lender
	 	 	 	 	 
	By:	/s/ Randon Gardley	 	By:	
			/s/ Brad W. Clarkson

			
	 	
			name: Randon Gardley

			title: Vice President

				 	 	
			name: Brad W. Clarkson

			
			title: Authorized Signatory

			

			
	 	 	 	 	 
	 	 	 	 	 
	
			THE BANK OF NOVA SCOTIA, as a Lender

				 	 	 
	 	 	 	 	 
	
			By:

				/s/ Mitch Gillingwater	 	 	 
	 	
			name: Mitch Gillingwater

			title: Director

				 	 	 
	 	 	 	 	 
	
			By:

				/s/ Yvonne Bai	 	 	 
	 	
			name: Yvonne Bai

			title: Associate Director

				 	 	 

 

 

4EX-10.1

 Exhibit 10.1 

TWELFTH AMENDMENT 
 THIS
TWELFTH AMENDMENT (the “Amendment”) is made and entered into as of December 4, 2017, by and between LJ GATEWAY OFFICE LLC, a Delaware limited liability company (“Landlord”), and NEOTHETICS, INC.,
a Delaware corporation (“Tenant”). 
 RECITALS 
  

	A.	 Landlord (as successor in interest to California Diversified LLC, a Delaware limited liability company and as
successor in interest to WW&LJ Gateways, LTD., a California limited partnership) and Tenant (formerly known as Lithera, Inc., a Delaware corporation and Lipothera, Inc., a Delaware corporation) are parties to that certain lease dated
July 3, 2008, which lease has been previously amended by a First Amendment dated February 6, 2009, a Second Amendment dated February 16, 2010, a Third Amendment dated February 1, 2011, a Fourth Amendment dated April 20,
2011, a Fifth Amendment dated April 10, 2012, a Sixth Amendment dated October 31, 2012, a Seventh Amendment dated April 30, 2013, an Eighth Amendment dated November 8, 2013, a Ninth Amendment dated April 21, 2014, a Tenth
Amendment dated January 20, 2015 and an Eleventh Amendment dated January 31, 2017 (collectively, the “Lease”). Pursuant to the Lease, Landlord has leased to Tenant space currently containing approximately 14,687
rentable square feet (the “Premises”) described as Suite No. 270 comprising approximately 11,107 rentable square feet on the 2nd floor (“Suite 270”) and
Suite No. 250 comprising approximately 3,580 rentable square feet on the 2nd floor of the building located at 9191 Towne Centre Drive, San Diego, California (the “Building”).

  

	B.	 Landlord and Tenant desire to terminate the Lease with respect to 11,107 rentable square feet known as Suite 270
only subject to the following terms and conditions. 

 NOW, THEREFORE, in consideration of the above recitals
which by this reference are incorporated herein, the mutual covenants and conditions contained herein and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree as follows: 

 

	I.	 Termination of Suite 270. Subject to satisfaction of the contingency in Section II below, Landlord and
Tenant agree that effective as of midnight on the day preceding the commencement date of a new lease between Landlord’s affiliate, Eastgate Summit Holdings LLC, a Delaware limited liability company, and Abacus Data Systems, Inc., the Lease with
respect to Suite 270 only shall terminate (the “Suite 270 Termination Date”). Not later than the Suite 270 Termination Date, Tenant shall cause Suite 270 to be vacated and surrendered broom clean condition and shall not be obligated
to remove any cabling or restore Suite 270. All rent and other costs due under the Lease with respect to Suite 270 shall be due and payable by Tenant to Landlord through the Suite 270 Termination Date. 

 

	II.	 Contingency. Tenant understands and agrees that the effectiveness of this Amendment is contingent upon the mutual
execution and delivery of a new lease between Landlord’s affiliate, Eastgate Summit Holdings LLC, a Delaware limited liability company and Abacus Data Systems, Inc. for space containing approximately 64,832 rentable square feet at Eastgate
Summit. 

  

	III.	 Effect of Partial Termination. The termination of Suite 270 pursuant to this Amendment shall not be deemed to
relieve either party of any obligation under the Lease that would otherwise survive its expiration or sooner termination. 

IV.    GENERAL. 
  

	 	A.	 Effect of Amendments. The Lease shall remain in full force and effect except to the extent that it is modified by
this Amendment. 

  

	 	B.	 Entire Agreement. This Amendment embodies the entire understanding between Landlord and Tenant and can be changed
only by a writing signed by Landlord and Tenant. 

  

	 	C.	 Counterparts; Digital Signatures. If this Amendment is executed in counterparts, each is hereby declared to be an
original; all, however, shall constitute but one and the same amendment. In any action or proceeding, any photographic, photostatic, or other copy of this Amendment may be introduced into evidence without foundation. The parties agree to accept a
digital image (including but not limited to an image in the form of a PDF, JPEG, GIF file, or other e-signature) of this Amendment, if applicable, reflecting the execution of one or both of the parties, as a
true and correct original. 

  

	 	D.	 Defined Terms. All words commencing with initial capital letters in this Amendment and defined in the Lease shall
have the same meaning in this Amendment as in the Lease, unless they are otherwise defined in this Amendment. 

  

	 	E.	 Authority. If Tenant is a corporation, limited liability company or partnership, or is comprised of any of them,
each individual executing this Amendment for the corporation, limited liability company or partnership represents that he or she is duly authorized to execute and deliver this Amendment on behalf of such entity and that this Amendment is binding
upon such entity in accordance with its terms. 

	 	F.	 Attorneys’ Fees. The provisions of the Lease respecting payment of attorneys’ fees shall also apply to
this Amendment. 

  

	 	G.	 Execution of Amendment. Submission of this Amendment by Landlord is not an offer to enter into this Amendment but
rather is a solicitation for such an offer by Tenant. Landlord shall not be bound by this Amendment until Landlord has executed and delivered the same to Tenant. 

IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Amendment as of the day and year first above written. 

 

			
	LANDLORD:	 	TENANT:
	  
 LJ GATEWAY OFFICE LLC,

a Delaware limited liability company
  

By /s/ Steven M. Case
  

Steven M. Case
 EVP

Office Properties
  

By /s/ Pamela Van Nort
  

Pamela Van Nort
 Vice President, Portfolio Operations

Office Properties
  

/s/ AH
	 	  
 NEOTHETICS, INC.,

a Delaware corporation
  

/s/ Susan Knudson
  

Printed Name Susan Knudson
 Title Chief Financial Officer

 
 By
  

Printed Name
 Title

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