Document:

Limited Waiver to Amended and Restated Loan and Security Agreement

 Exhibit 10.46 
 LIMITED WAIVER TO 
 AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT

 THIS LIMITED WAIVER TO AMENDED
AND RESTATED LOAN AND SECURITY AGREEMENT (this “Limited Waiver”) is entered into this 25 day of April, 2012, by and
between OCZ TECHNOLOGY GROUP, INC., a Delaware corporation (“Borrower”) and SILICON VALLEY BANK
(“Bank”). Capitalized terms used herein without definition shall have the same meanings given them in the Loan Agreement (as defined below). 
 RECITALS 
 A. Borrower and Bank have entered into
that certain Amended and Restated Loan and Security Agreement dated as of February 7, 2011 (as amended by Amendment No. 1 and Limited Waiver to Amended and Restated Loan and Security Agreement dated as of March 28, 2011, Amendment
No. 2 to Amended and Restated Loan and Security Agreement dated as of April 21, 2011, Amendment No. 3 and Limited Waiver to Amended and Restated Loan and Security Agreement dated as of June 21, 2011, Amendment No. 4 and
Limited Waiver to Amended and Restated Loan and Security Agreement dated as of July 14, 2011, Amendment No. 5 to Amended and Restated Loan and Security Agreement and Consent dated as of October 31, 2011 and Amendment No. 6 to
Amended and Restated Loan and Security Agreement and Consent dated as of January 31, 2012 as may be further amended, restated, or otherwise modified, the “Loan Agreement”), pursuant to which the Bank has extended and
will make available to Borrower certain advances of money. 
 B. Borrower is currently in default of the Loan Agreement
for failing to comply with the Minimum EBITDA financial covenant for the fiscal quarter ending February 29, 2012 and desires that Bank provide a limited waiver of the Existing Defaults. 

C. Borrower desires that Bank waive the Existing Default (as defined below). Subject to the representations and warranties of
Borrower herein and upon the terms and conditions set forth in this Limited Waiver, Bank is willing to provide the limited waiver contained herein. 
 AGREEMENT 
 NOW, THEREFORE, in consideration of the
foregoing Recitals and intending to be legally bound, the parties hereto agree as follows: 
 1. EVENT
OF DEFAULT AND LIMITED WAIVER. Borrower acknowledges that there exists an Event of Default under Sections 6.10(a) of the Loan Agreement for failing to
comply with the Minimum EBITDA financial covenant for the fiscal quarter ending February 29, 2012 (the “Existing Default”). Bank hereby agrees, subject to the terms of Section 4 hereof, to waive the Existing
Default. 

 2. LIMITATION. The limited waiver set forth in this
Limited Waiver shall be limited precisely as written and shall not be deemed (a) to be a forbearance, waiver or modification of any other term or condition of the Loan Agreement or of any other instrument or agreement referred to therein or to
prejudice any right or remedy which Bank may now have or may have in the future under or in connection with the Loan Agreement or any instrument or agreement referred to therein; (b) to be a consent to any future amendment or modification,
forbearance or waiver to any instrument or agreement the execution and delivery of which is consented to hereby, or to any waiver of any of the provisions thereof; or (c) to limit or impair Bank’s right to demand strict performance of all
terms and covenants as of any date. Except as expressly amended hereby, the Loan Agreement shall continue in full force and effect. 
 3. REPRESENTATIONS AND WARRANTIES. To induce Bank to enter into this Limited Waiver, Borrower hereby represents and warrants to Bank as
follows: 
 3.1 Immediately after giving effect to this Limited Waiver (a) the representations and warranties
contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such
date), and (b) no Event of Default has occurred and is continuing; 
 3.2 Borrower has the power and authority to
execute and deliver this Limited Waiver and to perform its obligations under the Loan Agreement, as amended by this Limited Waiver; 
 3.3 The organizational documents of Borrower delivered to Bank on February 7, 2011 remain true, accurate and complete and have not been amended, supplemented or restated and are and continue
to be in full force and effect; 
 3.4 The execution and delivery by Borrower of this Limited Waiver and the performance
by Borrower of its obligations under the Loan Agreement, as amended by this Limited Waiver, have been duly authorized; 

3.5 The execution and delivery by Borrower of this Limited Waiver and the performance by Borrower of its obligations under the
Loan Agreement, as amended by this Limited Waiver, do not and will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual restriction with a Person binding on Borrower, (c) any order, judgment
or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower; 
 3.6 The execution and delivery by Borrower of this Limited Waiver and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Limited Waiver, do not require any
order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision thereof, binding on either Borrower, except as already has
been obtained or made or except any filing, recording, or registration required by the Securities Exchange Act of 1934; and 

3.7 This Limited Waiver has been duly executed and delivered by Borrower and is the binding obligation of Borrower, enforceable
against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable principles relating to or
affecting creditors’ rights. 

  
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 4. EFFECTIVENESS. This Limited Waiver shall become
effective upon the satisfaction of all the following conditions precedent: 
 4.1 Limited Waiver. Borrower and Bank shall
have duly executed and delivered this Limited Waiver to Bank; and 
 4.2 Payment of Bank Expenses. Borrower shall have
paid all Bank Expenses (including all reasonable attorneys’ fees and reasonable expenses) incurred through the date of this Limited Waiver. 
 5. COUNTERPARTS. This Limited Waiver may be signed in any number of counterparts, and by different parties hereto in separate counterparts, with the same effect as if
the signatures to each such counterpart were upon a single instrument All counterparts shall be deemed an original of this Limited Waiver. 
 6. INTEGRATION. This Limited Waiver and any documents executed in connection herewith or pursuant hereto contain the entire agreement between the parties with respect
to the subject matter hereof and supersede all prior agreements, understandings, offers and negotiations, oral or written, with respect thereto and no extrinsic evidence whatsoever may be introduced in any judicial or arbitration proceeding, if any,
involving this Limited Waiver; except that any financing statements or other agreements or instruments filed by Bank with respect to Borrower shall remain in full force and effect. 

7. GOVERNING LAW; VENUE. THIS LIMITED WAIVER SHALL BE GOVERNED BY AND
SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA. Borrower and Bank each submit to the exclusive jurisdiction of the State and Federal courts in Santa Clara County, California. 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Limited Waiver to be executed as of
the date first written above. 
  

							
	 BORROWER:
	 		 	 OCZ TECHNOLOGY GROUP, INC.
 a Delaware corporation

				
		 		 	By:	 	 

		 		 	Printed Name:	 	 ARTHUR F. KNAPP JR

		 		 	Title:	 	 CFO

			
	 BANK:
	 		 	SILICON VALLEY BANK
				
		 		 	By:	 	 

		 		 	Printed Name:	 	 JEAN LEE

		 		 	Title:	 	 DEAL TEAM LEADERexhibit_10-1.htm

EXHIBIT A

Share Exchange Agreement

SHARE EXCHANGE AGREEMENT

THIS SHARE EXCHANGE AGREEMENT (the "Agreement") is entered into and effective as of May 8, 2012 by and among THE THIRD STONE CORPORATION, a Wyoming corporation (“TSC”), and EVCARCO, INC, a Nevada corporation (“EVCA”) and the shareholders of THE THIRDSTONE CORPORATION (The “Shareholders”).

1.  RECITALS

This Agreement is entered into with reference to and in contemplation of the following facts, circumstances and representations:

1.1.          The Shareholders are collectively the owners of 41,618,800 shares of the common stock of TSC (the “TSC Common Stock”), and 1,000,000 shares of the preferred stock of TSC (the “TSC Preferred Stock”), which represents all of the issued and outstanding capital stock of TSC (collectively the “TSC Shares”).

1.2           EVCA desires to issue a total of 1,664,752,000 shares of its common stock (the “EVCA Common Stock”) pro rata, to the Shareholders of the TSC Common Stock in exchange for 100% of the TSC Common Stock, and 1,000,000 shares of its Class B Convertible Preferred Stock (the “EVCA Preferred Stock”), pro rata, to the Shareholders of the TSC Preferred Stock in exchange for 100% of the TSC Preferred Stock. The EVCA Common Stock and EVCA Preferred Stock are hereafter collectively referred to as the “EVCA Shares.”

1.3           The Shareholders desire to exchange the TSC Shares for the EVCA Shares in accordance with the terms and conditions of this Agreement.

1.4.          EVCA, the Shareholders and TSC desire that this transaction be consummated.

2.   EXCHANGE AND ISSUANCE OF SHARES

2.1           Exchange of EVCA Shares: At the Closing, EVCA shall exchange and deliver to the Shareholders of the  a total of  1,664,752,000 shares of the EVCA Common Stock, pro rata, to the Shareholders of the TSC Common Stock, and 1,000,000 shares of the EVCA Preferred Stock, pro rata, to the Shareholders of the TSC Preferred Stock.

2.2          Exchange of TSC Shares:  At the Closing, the Shareholders of the TSC Common Stock shall exchange and deliver to EVCA a total of 41,618,800 shares of the TSC Common Stock, which represents one hundred percent (100%) of the issued and outstanding shares of TSC Common Stock, and the Shareholders of the TSC Preferred Stock shall exchange and deliver to EVCA a total of 1,000,000 shares of the TSC  Preferred Stock, which represents one hundred percent (100%) of the issued and outstanding shares of TSC Preferred Stock.

  

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2.3           Nature of EVCA Shares:  The EVCA Shares shall be issued with a restrictive legend in accordance with the rules and regulations of the Securities and Exchange Commission.

2.4          Private Sale Acknowledgment:  The parties acknowledge and agree that the exchange and issuance of the EVCA Shares is being undertaken as a private sale pursuant to Section 4(2) of the Securities Act of 1933, as amended and Nevada Revised Statutes Chapters 78 and 90 and is not being transacted via a broker-dealer and/or in the public market place.

3.   REPRESENTATIONS AND WARRANTIES OF EVCA.

EVCA represents and warrants to the Shareholders and TSC as follows:

3.1           Organization: EVCA is a corporation duly incorporated and validly existing under the laws of the State of Nevada and is in good standing with respect to all of its regulatory filings.

3.2           Capitalization:  The authorized capital of EVCA consists of 5,000,000,000 common shares, with a par value $0.001, of which 2,845,378,261 common shares have been issued and are currently outstanding; 15,000,000 shares of Class A Convertible preferred stock, with a par value $0.001, of which 0 shares have been issued and are currently outstanding; and 980,000,000 shares of Class B preferred stock, with a par value of $0.001, of which 7,000,000 shares have been issued and are currently outstanding.

3.3           Books and Records:  All material transactions of EVCA have been promptly and properly recorded or filed in or with its books and records and the Minute Book of EVCA contains records of all meetings and proceedings of the shareholders and directors thereof.

3.4           Legal Compliance:  To the best of its knowledge, EVCA is not in breach of any laws, ordinances, statutes, regulations, by-laws, orders or decrees to which EVCA is subject or which apply to it or any of its assets.

3.5           Tax Returns:  All tax returns and reports of EVCA required by law to be filed prior to the date hereof have been filed and are substantially true, complete and correct and all taxes and governmental charges have been paid.

3.6           Adverse Financial Events: EVCA has not experienced nor is it aware of any occurrence or event which has had or might reasonably be expected to have a material adverse effect on its financial condition.

  

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3.7           Disputes, Claims and Investigations:  Except as previously disclosed, there are no material disputes, claims, actions, suits, judgments, investigations or proceedings outstanding or pending or to the knowledge of EVCA threatened against or affecting EVCA at law or in equity or before or by any federal, state, municipal or other governmental department, commission, board, bureau or agency.

3.8           Employee Liabilities: Except as previously disclosed, EVCA has no knowledge of any liability to former employees or any liability to any governmental authorities with respect to current or former employees.

3.9           No Conflicts or Agreement Violations:  The execution, delivery and performance of this Agreement will not conflict with or be in violation of the articles or by-laws of EVCA or of any agreement to which EVCA is a party and will not give any person or company a right to terminate or cancel any agreement or right enjoyed by EVCA and will not result in the creation or imposition of any lien, encumbrance or restriction of any nature whatsoever in favor of a third party upon or against the assets of EVCA.

3.10        Validly Issued and Authorized Shares:  That the EVCA Shares will be validly authorized and issued by EVCA, they will be fully paid and non-assessable and they will be issued in full compliance with all federal and state securities laws.

3.11        Corporate Authority:  The officers or representatives of EVCA executing this Agreement represent that they have been authorized to execute this Agreement pursuant to a resolution of the Board of Directors and shareholders of EVCA.

4.   REPRESENTATIONS OF TSC AND THE SHAREHOLDER

TSC and the Shareholders collectively and individually hereby represent and warrant as follows:

4.1           Share Ownership:  The Shareholders are the owners, beneficially and of record, of the TSC Shares and said shares are free and clear of all liens, encumbrances, claims, charges and restrictions.

4.2           Transferability of TSC Shares:  That the Shareholders have full power to transfer the TSC Shares to EVCA without obtaining the consent or approval of any other person or governmental authority.

4.3           Validly Issued and Authorized Shares:  That the TSC Shares are validly authorized and issued, fully paid, and non-assessable, and the TSC Shares have been so issued in full compliance with all applicable State, Federal and International securities.

4.4           Organization: TSC is a corporation duly incorporated and validly existing under the laws of the State of Wyoming and is in good standing with respect to any and all applicable regulatory filings.

  

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4.5           Capitalization:  The authorized capital of TSC consists of  200,000,000 common shares, par value $0.0001, of which 41,618,800 common shares are issued and outstanding as fully paid and non-assessable shares, and 1,000,000 preferred shares, par value $0.0001, of which 1,000,000 preferred shares are issued and outstanding as fully paid and non-assessable shares.

4.6           Books and Records:  All material transactions of TSC have been promptly and properly recorded or filed in or with its books and records and the Minute Book of TSC contains records of all meetings and proceedings of the shareholders and directors thereof.

4.7           Legal Compliance: TSC is not in breach of any laws, ordinances, statutes, regulations, by-laws, orders or decrees to which TSC is subject or which apply to it or any of its assets.

4.8           Tax Returns:  All tax returns and reports of TSC required by law to be filed prior to the date hereof have been filed and are true, complete and correct and all taxes and governmental charges have been paid.

4.9          Adverse Financial Events: TSC has not experienced nor is it aware of any occurrence or event which has had or might reasonably be expected to have a material adverse effect on its financial condition.

4.10        Disputes, Claims and Investigations:  There are no disputes, claims, actions, suits, judgments, investigations or proceedings outstanding or pending or to the knowledge of TSC threatened against or affecting TSC at law or in equity or before or by any federal, municipal or other governmental department, commission, board, bureau or agency.

4.11        Employee Liabilities: TSC has no liability to former employees or any liability to any government authorities with respect to current or former employees.

4.12        No Conflicts or Agreement Violations:  The execution, delivery and performance of this Agreement will not conflict with or be in violation of the Articles of Incorporation of TSC or of any agreement to which TSC is a party and will not give any person or company a right to terminate or cancel any agreement or right enjoyed by TSC and will not result in the creation or imposition of any lien, encumbrance or restriction of any nature whatsoever in favor of a third party upon or against the assets of TSC.

4.13        No Liens:  That TSC has not received a notice of any assignment, lien, encumbrance, claim or charge against the TSC Shares.

4.14        Corporate Authority:  The officers or representatives of TSC executing this Agreement represent that they have been authorized to execute this Agreement pursuant to a resolution of the Boards of Directors and Shareholders of TSC

  

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5.   REPRESENTATIONS AND WARRANTIES OF SHAREHOLDER ALONE

The Shareholders alone further represent and warrant to EVCA as follows with respect to the EVCA Shares:

5.1           Financially Responsible:  That they are financially responsible, able to meet their obligations and acknowledge that this investment will be speculative.

5.2           Investment Experience:  That they have had experience in the business of investments in one or more of the following: (i) investment experience with securities such as stocks and bonds; (ii) ownership of interests in partnerships, new ventures and start-up companies; (iii) experience in business and financial dealings; and that they can protect their own interests in an investment of this nature and they do not have an "Investor Representative", as that term is defined in Regulation D of the Securities Act of 1933 and do not need such an Investor Representative.

5.3           Investment Risk:  That they are capable of bearing the high degree of economic risks and burdens of this investment, including but not limited to the possibility of complete loss of all their investment capital and the lack of a liquid market, such that they may not be able to liquidate readily the investment whenever desired or at the then current asking price.

5.4           Access to Information:  That they have had access to the information regarding the financial condition of EVCA and they were able to request copies of such information, ask questions of and receive answers from EVCA regarding such information and any other information their desires concerning the EVCA Shares, and all such questions have been answered to their full satisfaction.

5.5           Private Transaction:  That at no time were they presented with or solicited by any leaflet, public promotional meeting, circular, newspaper or magazine article, radio or television advertisement or any other form of general advertising.

5.6           Investment Intent:  The EVCA Shares are not being purchased with a view to or for the resale or distribution thereof and they have no present plans to enter into any contract, undertaking, agreement or arrangement for such resale or distribution.

5.7           Due Diligence:  That the Shareholders shall have completed a due diligence review of the affairs of EVCA and are satisfied with the results of that review.

6.   CLOSING, ESCROW HOLDER AND CONDITIONS TO CLOSING

6.1           Exchange Closing:  The closing of the share exchange as contemplated by this Agreement (the "Closing") shall take place at the offices of EVCA, at such time and place as may be agreed among by the parties, but in no event later than May 25, 2012.

  

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6.2           Conditions and Closing:  Prior to the Closing the following will be required:

6.2.1.       Delivery of TSC Shares:  The Shareholders shall deliver to EVCA the certificate or certificates representing the TSC Shares, duly endorsed for transfer accompanied by a duly executed assignment of the TSC Shares to EVCA.

6.2.2.       Delivery of EVCA Shares: EVCA shall deliver to the Shareholders certificates representing the EVCA Shares registered in the names of the Shareholders.

6.2.3.      Requisite Corporate Resolutions:  Each party shall deliver to the other certified copies of resolutions from their respective Boards of Directors and Shareholders authorizing the subject transaction.

6.2.4.       Satisfactory Completion of Due Diligence:  Each party hereto shall deliver to the other written notice that it has completed its due diligence investigation and is satisfied with the results of such investigation.

6.3           Close of Transaction:  The subject transaction shall "close" upon the satisfaction of the above conditions.

6.4           Notices: All notices given pursuant to this Agreement must be in writing and may be given by (1) personal delivery, or (2) registered or certified mail, return receipt requested, or (3) via facsimile transmission to the Escrow Holder the parties as set forth below.  Any party hereto may by notice so given change its address for any future notices:

                     

	 If to EVCA:	
7703 Sand Street

 Fort Worth, Texas 76118

Attention: Nikolay Frolov

	 	 
	 With a copy to: 	
The Law Office of William D. O’Neal, P.C.

527 N. Norris Ave

Tucson, AZ 85719

Attention: William D. O’Neal

Fax: (888) 353-8842

	 	 
	 If to TSC: 	
1110 NASA Parkway, Suite 212

Houston, TX 77058

Attention: Walter Speck

	 	 
	 	 

 

 

 

  

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7.   COOPERATION, ARBITRATION, INTERPRETATION, MODIFICATION AND ATTORNEY FEES

 

7.1           Cooperation of Parties:  The parties further agree that they will do all things necessary to accomplish and facilitate the purpose of this Agreement and that they will sign and execute any and all documents necessary to bring about and perfect the purposes of this Agreement.

7.2           Arbitration:  The parties hereby submit all controversies, claims and matters of difference arising out of this Agreement to arbitration in Fort Worth, Texas,  according to the rules and practices of the American Arbitration Association from time to time in force.  This submission and agreement to arbitrate shall be specifically enforceable. This Agreement shall further be governed by and construed in accordance with the laws of the State of Texas.

7.3           Interpretation of Agreement:  The parties agree that should any provision of this Agreement be found to be ambiguous in any way, such ambiguity shall not be resolved by construing such provisions or any part of or the entire Agreement in favor of or against any party herein, but rather by construing the terms of this Agreement fairly and reasonably in accordance with their generally accepted meaning.

7.4          Modification of Agreement:  This Agreement may be amended or modified in any way at any time by an instrument in writing stating the manner in which it is amended or modified and signed by each of the parties hereto.  Any such writing amending or modifying this Agreement shall be attached to and kept with this Agreement.

7.5           Attorney Fees:  If any legal action or any arbitration or other proceeding is brought for the enforcement of this Agreement, or because of an alleged dispute, breach, default or misrepresentation in connection with any of the provisions of the Agreement, the successful or prevailing party shall be entitled to recover reasonable attorneys' fees and other costs

incurred in that action or proceeding, in addition to any other relief to which it may be entitled.

7.6           Entire Agreement:  This Agreement constitutes the entire Agreement and understanding of the parties hereto with respect to the matters herein set forth, and all prior negotiations, writings and understandings relating to the subject matter of this Agreement are merged herein and are superseded and canceled by this Agreement.

7.7           Counterparts:  This Agreement may be signed in one or more counterparts.

7.8           Facsimile Transmission Signatures:  A signature received pursuant to a facsimile transmission shall be sufficient to bind a party to this Agreement.

 

 

 

 

  

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IN WITNESS WHEREOF, this Agreement is executed by the parties as of the date first-above written.

 

	 EVCARCO, Inc., a Nevada corporation	 
	 	 	 
	 By: 	 /s/ Nikolay Frolov	 
	 	 Nikolay Frolov	 
	 Its: 	 CFO	 
	 	 	 
	  

THE THIRDSTONE CORPORATION

	 
	 	 	 
	 By: 	 /s/ Gary Easterwood	 
	 	 Gary Easterwood	 
	 Its: 	 President	 
	 	 	 
	
SHAREHOLDERS:

	 
	 	 	 
	 By: 	  /s/ Walter Speck as Attorney-in-Fact	 
	 	 Walter Speck as Attorney-in-Fact	 

 

 

 

 

 

 

 

 

 

 

 

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