Document:

EXHIBIT 10.6

 

Second Amendment to Manufacturing Services Agreement

between Patheon Pharmaceuticals Inc., and Raptor Pharmaceuticals Inc.

Background: Patheon Pharmaceuticals Inc., ("Patheon") and Raptor Pharmaceuticals Inc., (formerly known as Raptor Therapeutics, Inc.), ("Raptor") entered into a Manufacturing Services Agreement dated November 15, 2010, as amended on April 5, 2012 (the "Agreement").  Patheon and Raptor wish to further amend the Agreement to add Raptor Pharmaceuticals Europe B.V., a wholly owned subsidiary of RPTP European Holdings C.V. (a wholly-owned subsidiary of Raptor) as an additional party to the Agreement and to update the Pricing in Schedule B.

NOW THEREFORE in consideration of the premises hereof and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties, the parties agree to amend the Agreement as follows:

1.            Second Amendment to Agreement:

(a)  Raptor Pharmaceuticals Europe B.V. located at Naritaweg 165, Telestone-Teleport, 1043 BW Amsterdam, the Netherlands, is hereby added as a party to the Agreement and will thereupon have all the rights and obligations of the "Client" thereunder.  All references to "Client" in the Agreement shall refer to Raptor and/or Raptor Pharmaceuticals Europe B.V., as applicable.

(b)  Schedule B to the Agreement is deleted in its entirety and is replaced in its entirety with the Schedule B attached to this Second Amendment.

	
2.

	
No Other Modifications.  The "Background" section of this document is incorporated into this Second Amendment.  Except as expressly amended by this Second Amendment, the terms and conditions of the Agreement shall remain in full force and effect.

	
3.

	
Counterparts.  This Second Amendment may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument.

[Signature page to follow]

LEGAL_US_W # 74402003. 2

IN WITNESS WHEREOF, the parties have caused this Second Amendment to be duly executed by their authorized representatives, effective as of June 21, 2013.

RAPTOR PHARMACEUTICALS INC.                                                                                                                PATHEON PHARMACEUTICALS INC.

By:  _/s/ Julie Smith_____________________                                                                                                                By:  _/s/ Francis P. McCune ____________

Name:  _Julie Smith_____________________                                                                                                                Name:  _ Francis P. McCune____________

Title:  __EVP Strategy & COO______________                                                                                                                Title:  _Secretary______________________

RAPTOR PHARMACEUTICALS EUROPE B.V.                      APPROVED BY LEGAL

By:  _/s/ Kim R. Tsuchimoto___________                                                                                                                FPM7-22-13

Name:  _Kim R. Tsuchimoto___________                                                                                                                Initials                          Date

Title:  _Director A____________________

RAPTOR PHARMACEUTICALS EUROPE B.V.

By:  _/s/ Henk Doude van Troostwijk _______

Name:  _Henk Doude van Troostwijk _______

Title:  _Director B_______________________

LEGAL_US_W # 74402003. 2

SCHEDULE B

(as revised by the Second Amendment to the Agreement effective June 21, 2013)

MINIMUM ORDERING QUANTITY AND PRICE

[****]

LEGAL_US_W # 74402003. 2ex10_1.htm

 

Exhibit 10.1

 

AMENDMENT TO REVOLVING PROMISSORY NOTE

This Amendment to the Revolving Promissory Note (the “Amendment”) issued by GROWLIFE, INC., a Delaware corporation (the “Company”), to W-NET FUND I, L.P., a Delaware limited partnership (the “Holder”), on June 7, 2013 (the “Note”) hereby increases the maximum amount that the Company can borrow, or have outstanding with, the Holder at any given time under the Note from the original agreed to amount of $550,000 to the new and revised agreed to amount of $750,000. Any additional requests for additional draws by the Company under the Note shall be at the sole discretion of the Holder of the Note.

This Amendment does not change any of the other terms and conditions agreed to in the Note, and both the Company and the Holder hereby acknowledge, and agree, that this Amendment only authorizes an increase in the maximum borrowing amount under the Note while maintaining, and adhering to, all of the other terms and conditions of the Note.

[Signature Page Follows]

 

 

  

  

  

 

IN WITNESS WHEREOF, the Company has caused this Amendment to the Revolving Promissory Note to be duly executed and delivered by its authorized officer as of August 6, 2013.

 

 

	 	
GROWLIFE, INC.

	 	 	 
	 	 By:	 /s/ Sterling C. Scott    
	 	 	Sterling C. Scott, CEO

 

  

ACKNOWLEDGED:

W-NET FUND I, L.P.

By: W-Net Fund GP I, LLC

Its: General Partner

 

	 	 	 
	 By:	/s/ David Weiner	 
	 	 
David Weiner, Managerexh10_1.htm

 

Exhibit 10.1

 

 

 

Oregon Health & Science UniversityTECHNOLOGY TRANSFER AND BUSINESS DEVELOPMENT

0690 SW Bancroft Street Portland, Oregon 97239 Phone : 503 494-8200 Fax: 503 494-4729 Mail Code: L106TT Andrew R.O. Watson, PhD, CLP Director, Technology Transfer August 8, 2013 David Koos Chairman & CEO  Regen BioPharma, Inc. 4700 Spring St., #304 La Mesa, CA 91942

Re: Expiration of Exclusive License between Regen BioPharma and Oregon Health & Science University

Dear Mr. Koos: In reference to the Exclusive License Agreement between Oregon Health & Science University ("OHSU") and Regen BioPharma, Inc. ("Regen") dated June 5, 2013, it has come to my attention that the patent listed in Appendix A of this license (United States Patent No. 6,821,513) is no longer active. The "Term" of this license, as defined in the license, has therefore expired as no patent rights remain.

As Regen has paid OHSU a total of $35,000 to date for the rights granted by OHSU to Regen under this license and considering that no patent rights remain, OHSU is willing to refund the full $35,000 to Regen. Furthermore, OHSU Invoice No. 226423 dated 23-Jul-2013 in the amount of $9,167.31 will be voided and no longer due and payable by Regen.

Thank you for your understanding in this matter. Please confirm your acceptance of the above by signing below.

Sincerely, Andrew R.O. Watson, PhD, CLP Director, Technology Transfer Agreed and Accepted: David Koos Chairman & CEO  Regen BioPharma, Inc.  Date 8/8/2013exh10_92.htm

 

Exhibit 10.92

 

FIRST AMENDMENT

 

TO

 

LOAN AND SECURITY AGREEMENT

 

THIS FIRST AMENDMENT to Loan and Security Agreement (this “Amendment”) is entered into as of June 17, 2013, among OXFORD FINANCE LLC, a Delaware limited liability company with an office located at 133 North Fairfax Street, Alexandria, Virginia 22314 (“Oxford”), as collateral agent (in such capacity, the “Collateral Agent”), the Lenders listed on Schedule 1.1 to the Loan Agreement (as defined below) or otherwise a party hereto from time to time including Oxford in its capacity as a Lender and SILICON VALLEY BANK, a California corporation with an office located at 3003 Tasman Drive, Santa Clara, CA 95054 (each a “Lender” and collectively, the “Lenders”), and HANSEN MEDICAL, INC., a Delaware corporation with offices located at 800 East Middlefield Road, Mountain View, CA 94043 (“Borrower”).

 

RECITALS

 

A. Lenders and Borrower have entered into that certain Loan and Security Agreement dated as of December 8, 2011 as the same may from time to time be amended, modified, supplemented or restated (the “Loan Agreement”).

 

B. Lenders have extended credit to Borrower for the purposes permitted in the Loan Agreement.

 

C. Borrower has requested that Lenders amend the Loan Agreement to make certain revisions to the Loan Agreement as more fully set forth herein.

 

D. Lenders have agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the foregoing recitals and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:

 

1. Definitions.  Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan Agreement.

 

2. Amendments to Loan Agreement.

 

2.1 Section 14.1 (Definitions).  The following terms and their respective definitions set forth below are hereby added to Section 14.1 of the Loan Agreement:

 

“ECL7 Account” means that certain deposit account number XXXXXX0720 maintained by ECL7, LLC at Silicon Valley Bank.

 

“Hansen Germany Account” means that certain deposit account maintained by Hansen Germany at HypoVereinsbank.

 

2.2 Section 6.2 (Financial Statements, Reports, Certificates).  Section 6.2(a)(vii) of the Loan Agreement hereby is amended and restated in its entirety to read as follows:

 

“(vii) as soon as available, but no later than thirty (30) days after the last day of each month, copies of the month-end account statements for each deposit account or securities account maintained by Borrower, any Loan Party, Hansen Germany, or Hansen UK, which statements may be provided to Collateral Agent and each Lender by Borrower or directly from the applicable institution(s); and”

 

  

  

  

 

2.3 Section 6.6 (Operating Accounts).  Section 6.6(b) of the Loan Agreement hereby is amended and restated in its entirety to read as follows:

 

“(b)           Borrower shall provide Collateral Agent five (5) Business Days’ prior written notice before Borrower or any of its Subsidiaries establishes any Collateral Account at or with any Person other than SVB.  In addition, for each Collateral Account that Borrower or any of its Subsidiaries, at any time maintains, Borrower or such Subsidiary shall cause the applicable bank or financial institution at or with which such Collateral Account is maintained to execute and deliver a Control Agreement or other appropriate instrument with respect to such Collateral Account to perfect Collateral Agent’s Lien in such Collateral Account in accordance with the terms hereunder prior to the establishment of such Collateral Account, which Control Agreement may not be terminated without prior written consent of Collateral Agent; provided that, as long as the Morgan Stanley Account maintains Five Million Dollars ($5,000,0000) or less and is closed within thirty (30) days of the Effective Date, Borrower shall not be required to deliver to Collateral Agent a Control Agreement with respect to such account.  The provisions of the previous sentence shall not apply to (i) deposit accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s, or any of its Subsidiaries’, employees and identified to Collateral Agent by Borrower as such, (ii) the Hansen Germany Account, provided that the aggregate value of assets in such account does not exceed Two Hundred Fifty Thousand Dollars ($250,000) at any time or (iii) the ECL7 Account, provided that the aggregate value of assets in such account does not exceed One Hundred Thousand Dollars ($100,000) at any time.”

 

2.4 Exhibit C to the Loan Agreement hereby is replaced with Exhibit C attached hereto.

 

3. Limitation of Amendments.

 

3.1 The amendments set forth in Section 2, above, are effective for the purposes set forth herein and shall be limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Lenders may now have or may have in the future under or in connection with any Loan Document.

 

3.2 This Amendment shall be construed in connection with and as part of the Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect.

 

4. Representations and Warranties.  To induce Lenders to enter into this Amendment, Borrower hereby represents and warrants to Lenders as follows:

 

4.1 Immediately after giving effect to this Amendment (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;

 

4.2 Borrower has the power and authority to execute and deliver this Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment;

 

4.3 The organizational documents of Borrower delivered to Lenders on the Effective Date remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect;

 

  

  

  

 

4.4 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, have been duly authorized;

 

4.5 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, 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;

 

4.6 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, 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; and

 

4.7 This Amendment 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.

 

5. Counterparts.  This Amendment may be executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument.

 

6. Effectiveness.  This Amendment shall be deemed effective upon (a) the due execution and delivery to Collateral Agent of this Amendment by each party hereto and (b) Borrower’s payment of all Lenders’ expenses incurred through the date of this Amendment.

 

[Balance of Page Intentionally Left Blank]

 

  

  

  

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of the date first written above.

 

COLLATERAL AGENT                                                      BORROWER

 

OXFORD FINANCE LLC                                                     HANSEN MEDICAL, INC.

 

By:       /s/ Mark Davis                                                             By:       /s/ Bruce Barclay                                                                    

Name:  Mark Davis                                                                 Name: Bruce Barclay                                                                 

Title:    Vice President, Finance                                                Title: Chief Executive Officer                                                                     

 

LENDER

 

SILICON VALLEY BANK

 

By:       /s/ David M. Sabow                                                                                 

Name:  David M. Sabow                        

Title:    Managing Director                                                              

 

LENDER

 

OXFORD FINANCE FUNDING TRUST 2012-01

 

By: Oxford Finance LLC, as servicer

 

By:       /s/ Mark Davis                                                                                          

Name:  Mark Davis                                                                                                           

Title:    Vice President, Finance                     

                                                      

  

  

  

 

EXHIBIT C

 

Compliance Certificate

 

TO:            OXFORD FINANCE LLC, as Collateral Agent and Lender

SILICON VALLEY BANK, as Lender

 

FROM:      HANSEN MEDICAL, INC.

 

The undersigned authorized officer (“Officer”) of HANSEN MEDICAL, INC. (“Borrower”), hereby certifies that in accordance with the terms and conditions of the Loan and Security Agreement by and among Borrower, Collateral Agent, and the Lenders (the “Agreement”),

 

(i) Borrower is in complete compliance for the period ending with all required covenants except as noted below;

 

(ii) There are no Events of Default, except as noted below;

 

(iii) Except as noted below, all representations and warranties of Borrower stated in the Loan Documents are true and correct in all material respects on this date except as noted below; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date.

 

(iv) Borrower, and each of Borrower’s Subsidiaries, has timely filed all required tax returns and reports, Borrower, and each of Borrower’s Subsidiaries, has timely paid all foreign, federal, state, and local taxes, assessments, deposits and contributions owed by Borrower, or Subsidiary, except as otherwise permitted pursuant to the terms of Section 5.8 of the Agreement;

 

(v) No Liens have been levied or claims made against Borrower or any of Borrower’s Subsidiaries relating to unpaid employee payroll or benefits of which Borrower has not previously provided written notification to Collateral Agent and the Lenders.

 

Attached are the required documents, if any, supporting our certification(s).  The Officer, on behalf of Borrower, further certifies that the attached financial statements are prepared in accordance with Generally Accepted Accounting Principles (GAAP) and are consistently applied from one period to the next except as explained in an accompanying letter or footnotes and except, in the case of unaudited financial statements, for the absence of footnotes and subject to year-end audit adjustments as to the interim financial statements.  Capitalized terms used but not otherwise defined herein shall have the meanings given them in the Agreement.

 

Please indicate compliance status since the last Compliance Certificate by circling Yes, No, or N/A under “Complies” column.

 

	  	
Reporting Covenant

 

	
Requirement

 

	  	
Complies

 

	
1)

	
Financial statements

	
Monthly within 30 days

	  	
Yes

	
No

	
N/A

 

	
2)

	
Annual (CPA Audited) statements

	
Within 180 days after Fiscal Year End

	  	
Yes

	
No

 

	
N/A

	
3)

	
Annual Financial Projections/Budget

(prepared on a monthly basis)

(consolidated and consolidating)

	
Annually (w/n 10 days of FYE) and when revised

	  	
Yes

	
No

	
N/A

 

  

  

  

 

	
4)

	
A/R & A/P agings

	
If applicable

	
Yes

	
No

	
N/A

 

	
5)

	
8-K, 10-K and 10-Q Filings

	
If applicable

	  	
Yes

	
No

	
N/A

 

	
6)

	
Compliance Certificate

	
Monthly within 30 days

	  	
Yes

	
No

	
N/A

 

	
7)

	
A/R report, with comparison to prior

month; cash on hand, by Foreign

Subsidiary

 

	
Monthly within 30 days

	  	
Yes

	
No

	
N/A

 

	
8)

	
IP Report

	
when required

	  	
Yes

	
No

	
N/A

 

	
9)

	
Total amount of Borrower’s cash and

cash equivalents at the last day of the

measurement period

 

	  	
$_____

	  	  	  
	
10)

	
D&O Coverage Condition

	
Promptly upon existence

 

	  	  	  	  
	
11)

	
Excess D&O Claims Amount, if any 

(explain on attachment)

	
Monthly within 30 days (during existence of D&O Coverage Condition)

 

	
$_____

	  	  	  
	
12)

	
Month-End Account Statements for all 

deposit and securities accounts

 

	
Monthly within 30 days

	  	
Yes

	
No

	
N/A

	 	
Deposit and Securities

Accounts

	(Please list all accounts; attach separate sheet if additional space needed)	 
	
 

	 	 	  	 	Acct Control
	
 

	Bank	Account Number	New Account?	Agmt in place?
	
1)

	 	 	Yes 	No	Yes	
No

 

	
2)

	 	 	Yes 	No	Yes	
No

 

	
3)

	 	  	
Yes

 

	No	Yes	
No

 

	
4)

	 	 	Yes  	No  	Yes	
No

 

	
5)

	 	 	Yes	No  	Yes	No
	
 

	 	 	  	 	 	 
	 	
Bank Services:

Amount of cash secured

Bank Services:

$______

	 	 	 	 	 
	 	 	 	 	 	 	 
	 	
Amount of non-cash secured

Bank Services

$______

	 	 	 	 	 

 

  

  

  

 

	 	 	 	Actual	 	 	 

	
1)

	Minimum Liquidity	$15,000,000*	$______ 	Yes             No	 	 

 

	 	 	 	 	 	 	 

 

	 	
Have there been any changes in management since the last Compliance Certificate?   

	 	 	Yes            No	 	 

	 	
Have there been any transfers/sales/disposals/retirement of Collateral or IP prohibited by the Agreement?

	 	 	Yes            No	 	 

	 	
Have there been any new or pending claims or causes of action against Borrower that involve more than $100,000?

	 	 	Yes            No	 	 

 

	 	
Exceptions

	 	 	 	 	 

 

	 	
Please explain any exceptions with respect to the certification above:  (If no exceptions exist, state “No exceptions.”  Attach separate sheet if additional space needed.)

	 	 	 	 	 

                                                                                              

 

                          LENDERS USE

                          ONLY

 

HANSEN MEDICAL, INC.                         DATE

 

By:                                                                                                          Received by:                      Verified by:

 

Name:

Title:                                                                                                       Date:                                    Date:

 

                          Compliance Status                                Yes           No

 

* Plus, within 10 days of a D&O Coverage Condition, if any, and at all times during the existence of such D&O Coverage Condition, the Excess D&O Claims Amount.

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