Document:

EX-10.1

 Exhibit 10.1 

FIRST AMENDMENT TO CREDIT AGREEMENT 

THIS FIRST AMENDMENT TO CREDIT AGREEMENT dated as of April 2, 2018 (this “Agreement”) is entered into among
OWENS & MINOR DISTRIBUTION, INC., a Virginia corporation (“Distribution”), OWENS & MINOR MEDICAL, INC., a Virginia corporation (“Medical”), BARISTA ACQUISITION I, LLC, a Virginia limited liability
company (“Barista I”), BARISTA ACQUISITION II, LLC, a Virginia limited liability company (“Barista II”; Barista II, together with Distribution, Medical and Barista I, each a “Borrower” and
collectively the “Borrowers”), OWENS & MINOR, INC., a Virginia corporation (the “Parent”), the other Guarantors party hereto, the Banks party hereto and WELLS FARGO BANK, N.A., as administrative agent for
the Banks (in such capacity, the “Administrative Agent”). All capitalized terms used herein and not otherwise defined herein shall have the meanings given to such terms in the Credit Agreement (as defined below). 

RECITALS 
 WHEREAS, the
Borrowers, the Guarantors, the Banks and the Administrative Agent have entered into that certain Credit Agreement dated as of July 27, 2017 (as amended, modified, extended, restated, replaced, or supplemented from time to time, the
“Credit Agreement”); and 
 WHEREAS, the Borrowers have requested that the Banks amend the Credit Agreement as set forth
below. 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1.    Amendments. 

(a)    The definition of “Consolidated EBITDA” in Section 1.1 of the Credit Agreement is
hereby amended to read as follows: 
 “Consolidated EBITDA” means, for any period, in each case for the
members of the Consolidated Group on a consolidated basis, an amount equal to Consolidated Net Income for such period plus (a) the following, without duplication, to the extent deducted in calculating such Consolidated Net Income (other
than amounts specifically excluded from Consolidated Net Income under clauses (a) through (c) of the definition of Consolidated Net Income): (i) Consolidated Interest Expense for such period; (ii) taxes paid for such period;
(iii) depreciation and amortization for such period; (iv) all extraordinary or other non-recurring expenses and charges for such period which do not represent a cash item in such period (including
but not limited to items defined under GAAP such as losses on asset disposals, impairment losses on long-lived assets, exit and restructuring costs and goodwill impairment losses); provided, that, any expenses or charges incurred in
such period, during the fiscal years of the Parent ending December 31, 2017 and December 31, 2018, in connection with the Rapid Business Transformation and Client Engagement Centers reorganization and transformation shall not be added back
to Consolidated EBITDA pursuant to this clause (a)(iv) (it being understood and agreed that such expenses and charges may be added back pursuant to clause (a)(viii) below to the extent permitted pursuant to clause (a)(viii)
below); (v) expenses incurred in such period in connection with the issuance of stock options as compensation to employees and/or management of any member of the Consolidated Group; (vi) any costs and expenses incurred in such period in
connection with any Investment permitted 

 
pursuant to this Credit Agreement, any Acquisition permitted pursuant to this Credit Agreement, any Asset Disposition permitted pursuant to this Credit Agreement, any equity issuance permitted
pursuant to this Credit Agreement or any incurrence, payment, prepayment, refinancing or redemption of Indebtedness permitted pursuant to this Credit Agreement (including fees and expenses related to the Loans and LOC Obligations, and any
amendments, supplements and modifications thereof), including the amortization of deferred financing fees, debt issuance costs, commissions, fees and expenses, in each case, whether or not consummated; (vii) implementation costs incurred in
such period that are associated with Software as a Service (SaaS) as part of the adoption of ASU 2015-05; and (viii) all expenses and charges incurred in such period, during the fiscal years of the Parent
ending December 31, 2017 and December 31, 2018, in connection with the Rapid Business Transformation and Client Engagement Centers reorganization and transformation; provided, that, the aggregate amount of such expenses and
charges added back to Consolidated EBITDA pursuant to this clause (a)(viii) shall not exceed $35,200,000 during the term of this Credit Agreement; minus (b) the following, without duplication, to the extent included in calculating
such Consolidated Net Income: (i) all extraordinary or other non-recurring, non-cash items increasing such Consolidated Net Income for such period; and
(ii) any cash payments made during such period in respect of items described in clause (a)(iv) above subsequent to the fiscal quarter in which the relevant non-cash expenses or losses were
incurred. Notwithstanding the above, the adjustments in clauses (a)(iv) and (b) shall be limited to those amounts that are separately disclosed by the Parent in its Forms 10-K or 10-Q filed with the Securities and Exchange Commission. 
 (b)    The
definition of “Permitted Liens” in Section 1.1 of the Credit Agreement is hereby amended by (a) deleting the word “and” at the end of clause (q) thereof, (b) deleting the “.” at the end of clause
(r) thereof and replacing it with “; and” and (c) adding the following new clause (s) immediately after clause (r) thereof: 

(s)    Liens on the cash proceeds (and the related escrow account, and any money market funds or securities
in which such cash proceeds are temporarily invested during the applicable escrow period) of any issuance of Indebtedness permitted pursuant to Section 8.1 in connection with the cash proceeds of such Indebtedness being
placed into (and pending the release from) escrow. 
 (c)    Section 8.1(h) of the Credit Agreement is
hereby amended to read as follows: 
 (h)    (i) unsecured Funded Debt under the Senior Notes, and
(ii) other Funded Debt of the members of the Consolidated Group that is unsecured (other than by Liens permitted pursuant to clause (s) of the definition of “Permitted Liens”); provided that the Borrowers shall be
in compliance with the financial covenants in Section 7.10 on a Pro Forma Basis after giving effect to the incurrence of such other unsecured Funded Debt; 

(d)    Section 8.11 of the Credit Agreement is hereby amended to read as follows: 

8.11    Subsidiary Dividends. 

The Credit Parties will not permit any member of the Consolidated Group to enter into, assume or otherwise become subject to,
or permit any of their respective Subsidiaries (other than a Securitization Subsidiary pursuant to a Qualified Securitization Transaction permitted hereunder) to enter into, assume or otherwise become subject to,

  
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any agreement prohibiting or otherwise restricting the payment of dividends by any of the Parent’s Subsidiaries (other than a Securitization Subsidiary pursuant to a Qualified Securitization
Transaction permitted hereunder) to the Parent or any other member of the Consolidated Group. 
 2.    Condition
Precedent. This Agreement shall become effective upon receipt by the Administrative Agent of counterparts of this Agreement duly executed by the Borrowers, the Guarantors, the Required Banks and the Administrative Agent. 

3.    Expenses. The Credit Parties agree to reimburse the Administrative Agent for all reasonable documented out-of-pocket costs and expenses of the Administrative Agent in connection with the preparation, execution and delivery of this Agreement, including without limitation the
reasonable documented fees and expenses of Moore & Van Allen PLLC. 
 4.    Miscellaneous. 

(a)    The Credit Agreement and the obligations of the Credit Parties thereunder and under the other Credit
Documents, are hereby ratified and confirmed and shall remain in full force and effect according to their terms. This Agreement shall constitute a Credit Document. 

(b)    Each Guarantor (i) acknowledges and consents to all of the terms and conditions of this
Agreement, (ii) affirms all of its obligations under the Credit Documents and (iii) agrees that this Agreement and all documents executed in connection herewith do not operate to reduce or discharge its obligations under the Credit
Agreement or the other Credit Documents. 
 (c)    Each Credit Party hereby represents and warrants as
follows: (i) such Credit Party has taken all necessary corporate or other organizational action to authorize the execution, delivery and performance of this Agreement; (ii) this Agreement has been duly executed and delivered by such Credit
Party and constitutes the legal, valid and binding obligation of such Credit Party, enforceable against such Credit Party in accordance with its terms, except as may be limited by bankruptcy or insolvency laws or similar laws affecting
creditors’ rights generally or by general equitable principles; and (iii) no consent, approval, authorization or order of, or filing, registration or qualification with, any Governmental Authority or any other Person is necessary or
required in connection with the execution, delivery or performance by such Credit Party of this Agreement (or, if required, such consent, approval and authorization has been obtained). 

(d)    The Credit Parties represent and warrant to the Banks that, after giving effect to this Agreement,
(i) the representations and warranties made by the Credit Parties in the Credit Agreement and in the other Credit Documents and which are contained in any certificate furnished at any time under or in connection therewith are true and correct
in all material respects on and as of the date hereof as if made on and as of such date (except (A) for those which expressly relate to an earlier date, in which case they were true and correct as of such earlier date, and (B) to the
extent any such representation and warranty is qualified by materiality or reference to Material Adverse Effect, in which case, such representation and warranty is true and correct in all respects), and (ii) no Default or Event of Default has
occurred and is continuing. 
 (e)    This Agreement may be executed in any number of counterparts, each
of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument. It shall not be necessary in making proof of this Agreement to produce or account for more than one such counterpart for
each of the parties hereto. Delivery by facsimile by any of the parties hereto of an executed counterpart of this Agreement shall be as effective as an original executed counterpart hereof and shall be deemed a representation that an original
executed counterpart hereof will be delivered. 

  
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 (f)    THIS AGREEMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR
CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 [Signature Pages to Follow] 

  
 4 

 Each of the parties hereto has caused a counterpart of this Agreement to be duly executed and
delivered as of the date first above written. 
  

							
	BORROWERS:	 		 	OWENS & MINOR DISTRIBUTION, INC.,
		 		 	a Virginia corporation
				
		 		 	By:	 	 /s/ Nicholas J. Pace

		 		 	Name:	 	Nicholas J. Pace
		 		 	Title:	 	SVP, General Counsel & Corporate Secretary, Director
			
		 		 	OWENS & MINOR MEDICAL, INC.,
		 		 	a Virginia corporation
				
		 		 	By:	 	 /s/ Nicholas J. Pace

		 		 	Name:	 	Nicholas J. Pace
		 		 	Title:	 	SVP, General Counsel & Corporate Secretary, Director
			
		 		 	BARISTA ACQUISITION I, LLC,
		 		 	a Virginia limited liability company
				
		 		 	By:	 	 /s/ Nicholas J. Pace

		 		 	Name:	 	Nicholas J. Pace
		 		 	Title:	 	SVP, General Counsel & Corporate Secretary
			
		 		 	BARISTA ACQUISITION II, LLC,
		 		 	a Virginia limited liability company
				
		 		 	By:	 	 /s/ Nicholas J. Pace

		 		 	Name:	 	Nicholas J. Pace
		 		 	Title:	 	SVP, General Counsel & Corporate Secretary
			
	GUARANTORS:	 		 	OWENS & MINOR, INC.,
		 		 	a Virginia corporation
				
		 		 	By:	 	 /s/ Nicholas J. Pace

		 		 	Name:	 	Nicholas J. Pace
		 		 	Title:	 	EVP, General Counsel, Corporate Secretary & Communications
			
		 		 	O&M HALYARD, INC.,
		 		 	a Virginia corporation
				
		 		 	By:	 	 /s/ Nicholas J. Pace

		 		 	Name:	 	Nicholas J. Pace
		 		 	Title:	 	SVP, General Counsel & Corporate Secretary, Director

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

							
	ADMINISTRATIVE AGENT:	 		 	WELLS FARGO BANK, N.A.,
		 		 	in its capacity as Administrative Agent
				
		 		 	By:	 	 /s/ Andrea S Chen

		 		 	Name:	 	Andrea S Chen
		 		 	Title:	 	Managing Director

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

							
	BANKS:	 		 	WELLS FARGO BANK, N.A.,
		 		 	in its capacity as a Bank, Issuing Bank and the Swingline Bank
				
		 		 	By:	 	 /s/ Andrea S Chen

	 	 	 	 	Name:	 	Andrea S Chen
	 	 	 	 	Title:	 	Managing Director

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

 
			
	 BANK OF AMERICA, N.A.,
 in its
capacity as a Bank and an Issuing Bank

		
	By:	 	 /s/ Darren Merten

	Name:	 	Darren Merten
	Title:	 	Vice President

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

			
	 JPMORGAN CHASE BANK, N.A.,
 in its
capacity as a Bank and an Issuing Bank

		
	By:	 	 /s/ Joon Hur

	Name:	 	Joon Hur
	Title:	 	Executive Director

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

 
			
	 SUNTRUST BANK,
 in its capacity
as a Bank

		
	By:	 	 /s/ Philip VanFossan

	Name:	 	Philip VanFossan
	Title:	 	Vice President

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

 
			
	 PNC BANK, NATIONAL ASSOCIATION,
 in
its capacity as a Bank

		
	By:	 	 /s/ Carolyn L. West

	Name:	 	Carolyn L. West
	Title:	 	Senior Vice President

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

 
			
	 US BANK NATIONAL ASSOCIATION,
 in
its capacity as a Bank

		
	By:	 	 /s/ Joseph M.
Schnorr                                

	Name:	 	Joseph M. Schnorr
	Title:	 	Senior Vice Present

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

 
			
	 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,

in its capacity as a Bank

		
	By:	 	 /s/ Kevin
Wood                                        

	Name:	 	Kevin Wood
	Title:	 	Director

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

 
			
	 BRANCH BANKING & TRUST COMPANY,

in its capacity as a Bank

		
	By:	 	 /s/ J. Carlos Navarrete

	Name:	 	J. Carlos Navarrete
	Title:	 	Vice President

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

 
			
	 CITIBANK, N.A.,
 in its capacity as
a Bank

		
	By:	 	 /s/ Eugene Yermash

	Name:	 	Eugene Yermash
	Title:	 	Vice President

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC. 

 
			
	 HSBC BANK USA, NATIONAL ASSOCIATION,

in its capacity as a Bank

		
	By:	 	 /s/ Matthew Brannon

	Name:	 	Matthew Brannon
	Title:	 	Vice President

  
 FIRST AMENDMENT TO CREDIT
AGREEMENT 
 OWENS & MINOR, INC.Exhibit 10.27

 

 

FIRST AMENDMENT TO LEASE

 

This FIRST AMENDMENT TO LEASE (this “Amendment”) is entered into as of this 17th of November, 2017, and forms a part of that certain Office Lease agreement dated February 4, 2016 (the “Lease”), by and between Sawgrass Business Plaza, LLC, a Florida limited liability company, as lessor (“Landlord”), whose address is c/o Morris Southeast Group, Inc , 1730 Main Street, Suite 206, Weston, FL 33326, and U.S. Stem Cell, Inc., a Florida corporation, as lessee (“Tenant”), whose address is 13794 NW 4th Street, Suite 211-213, Sunrise FL 33325 and is joined by GACP Stem Cell Bank LLC, a Florida limited liability company (“Equipment Lessor”), whose address is 2333 Ponce de Leon Blvd. Suite R240, Coral Gables FL 33134. All capitalized terms used herein and not defined herein shall have the meanings ascribed to them in the Lease

 

RECITALS

 

A.         WHEREAS, Tenant and Landlord entered into the Lease for the rental of approximately 4,860 square feet of space, identified by Suites 211-213 (the “Premises”) in the Sawg1:ass Business Plaza building located at 13794 NW 4th Street, Sunrise FL 33325 (the “Building”);

 

B.          WHEREAS, Tenant,  formerly known as Bioheart, Inc., had a prior lease agreement with Landlord for the Premises and had a past due balance under such lease agreement of approximately One Hundred Forty Thousand Seven Hundred Seventy-Seven and 0(1/100 Dollars ($140, 777.49) as of December 31, 2016 (“Arrearage”);

 

C.         Part I (Preamble). Section M (Additional Rent) thereof, of the Lease requires Tenant to remit to the Landlord, in addition to the Monthly Base Rent and Tenant’s Estimated Monthly Payment of Tenant’s Share of Landlord’s Operating Expenses, the sum of Seventy Thousand and 00/100 Dollars ($70,000.00), which Landlord agreed to accept as full and final settlement of the Arrearage, and Landlord and Tenant desire to restructure the payment schedule for such outstanding obligation as set forth herein;

 

D.         WHEREAS, Tenant and Equipment Lessor are parties to that certain Asset Sale and Lease Agreement, dated March 3, 2017 (the “Equipment Lease”), pursuant to which Equipment Lessor has leased to Tenant certain business equipment, which are listed on Exhibit “A,” which is attached hereto and made a part hereof (collectively, the “Equipment Assets”), and such Equipment Assets are currently located in the Premises;

E.          WHEREAS, Part I (Preamble), Section L (Bas Rent) thereof, of the Lease incorrectly stated the Lease Period as 111/16 - 7/31119, however, the correct Lease Period is 2/1/16 - 8/31119, which is consistent with the Commencement Date (February 1, 2016) and the Expiration Date (August 31, 2019); and

F.          WHEREAS, in the event that Tenant defaults in its obligations under the Lease, Equipment Lessor and Tenant desire for Equipment Lessor to have the right to occupy the Premises for a limited period of up to six (6) months, subject to the terms of the Lease and this Amendment, and Tenant has requested that Landlord consent to such limited occupancy of the  Premises by Equipment Lessor, as set forth herein and subject to the terms of the Lease and this Amendment;

 

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Landlord, Tenant and Equipment Lessor hereby agree as follows:

 

1.          Recitals. The  above-mentioned recitals are true, correct and incorporated herein by this reference.

 

2.          Additional Rent. Part I (Preamble}, Section M thereof (Additional Rent), of the Lease, shall be deleted in its entirety and the following shall be inserted in its place and stead:

 

	
M.  Additional Rent

	
In addition to the Monthly Base Rent and Tenant’s Monthly Payment of Tenant’s

 

1

 

	
 

	
Share of Landlord’s Operating Expenses, Tenant shall pay Landlord an additional rent in the amount of Seventy Thousand and 00/100 Dollars ($70,000.00) (“Extra Rent”) . Such amount shall be paid by Tenant to Landlord in the following manner: (i) Twenty-Five  Thousand and 00/100 Dollars ($25,000.00) shall be due and paid by Tenant upon execution of this First Amendment to Lease, and (ii) the rem3ining amount due, Forty-Five Thousand and 00/100 Dollars ($45,000.00), shall be paid in ten (10) consecutive monthly installments of Four Thousand Five Hundred and 00/100 Dollars ($4,500.00) each, and such installments shall due ·)n the first day of each calendar month, commencing on December 1, 2017. l:pon full and final payment of the Extra Rent from Tenant to Landlord, the Arreuage shall be deemed paid in full.

 

3.          Tenant Default . Landlord shall provide written  notice to Equipment Lessor (“Default Notice”) of any defaults by the Tenant under the Lease (a “Default”) and such Default Notice shall be sent to Equipment Lessor at Equipment Lessor’s address set forth in the introductory paragraph of this Amendment. If Tenant fails to cure any such Default within ter. {10) days of the date of such Default, and Equipment Lessor (a) provides written notice to Landlord within ten (10) days of the date of the Default Notice that Equipment Lessor desires to occupy the Premises for a period equal to the lesser of (i) six (6) months commencing on the date of the Default Notice, or (ii) the then remaining term of the Lease (the “Step-In Term”), and (b) Equipment Lessor has cured all Defaults by Tenant (provided however , Equipment Lessor shall not be required to pay the Extra Rent set forth in Section 2 above), then Landlord consents to Equipment Lessor having the right to occupy the Premises for such Step-In Term provided that Equipment Lessor fulfills all obligations of Tenant under the Lease (and amendments thereto) during such Step-In Term (excluding the Extra Rent due as set forth in Section 2 above). Tenant hereby consents to such occupancy of the Premises by Equipment Lessor under such conditions and for such Step-In Term. During such Step-In  Term, Tenant relinquishes its rights to possession of the Premises in favor of Equipment Lessor. Upon completion of such Step-In Term, Equipment Lessor shall vacate the Premises immediately and shall no longer have any rights to occupy the Premises. Notwithstanding Equipment Lessor occupying the Premises as set forth herein and fulfilling obligations of Tenant under the Lease during such Step-In Term, this Amendment shall not release Tenant from any existing or future duty, obligation or liability to Landlord , pursuant to the Lease, and Tenant shall remain fully responsible for all obligations set forth in the Lease. Landlord does not waive any rights or remedies against Tenant provided under the Lease or pursuant to Florida law and specifically reserves such rights and remedies .

 

4.           Equipment Lessor: Liens . This Amendment is not a consent, agreement, or approval by Landlord of or to any of the terms and provisions of the Equipment Lease between Tenant and Equipment Lessor. Neither the Lease nor this Amendment shall be deemed to grant Equipment Lessor any rights whatsoever against Landlord. Landlord shall have no liability to Equipment Lessor in any manner. Equipment Lessor hereby acknowledges that it has read and has knowledge of all of the terms, provisions, rules and regulations of the Lease, that it agrees not to do or fail to do anything which would result in Tenant being in breach of the Lease, and that Equipment Lessor shall comply with the terms, provisions, rules and regulations of the Lease in the event that Equipment Lessor occupies the Premises pursuant to Section 3 above. Equipment Lessor has received from Tenant a pledge of the Equipment Assets by Tenant pursuant to the Equipment Lease and Equipment Lessor has filed a first priority lien against the Equipment Assets to secure Equipment Lessor’s interest in the Equipment Assets for the term of the Equipment Lease . Landlord consents to the filing of such liens. Landlord hereby subordinates any statutory and contractual liens that Landlord may now or hereafter have with respect to Equipment Assets to the lien of Equipment Lessor, notwithstanding any UCC filings to the contrary. Landlord hereby agrees that any interest and lien rights Landlord may have in such Equipment Assets shall be released once Tenant has paid Landlord, in full, the Extra Rent due as set forth in Section 2 above. Landlord shall execute such other reasonable documentation required to evidence such subordination and subsequent release (upon full payment by Tenant of Extra Rent), provided that such documentation is in a form reasonably acceptable to Landlord .

 

5.           Equipment Assets.  Tenant shall be obligated to repair any damage caused by the placement, storage, use and removal of the Equipment Assets . Tenant and Equipment Lessor shall be

 

 

2

obligated, jointly and severally, to repair any damage caused by the placement, storage, use or removal of the Equipment Assets during the Step-In Term. Upon completion of the Step-In Term, Tenant and Equipment Lessor shall remove such Equipment Assets. If Tenant and Equipment Lessor fail to remove the Equipment Assets upon completion of the Step-In Term, th-3n such items shall be deemed abandoned and, if elected by Landlord, become the property of the Landlord. If the Landlord does not elect for such items to become property of the Landlord, then Tenant and Equipment Lessor, jointly and severally, shall be responsible  for all removal and storage costs associated with such Equipment Assets.

6.           Lease Period. The Lease Period stated in Part I (Preamble), Section L (Base Rent) thereof, of the Lease shall be deleted in its entirety and the following shall be inserted in its place:

 

	
Lease Period

	2/1/16 - 8/31/19

 

7.           No Waivers. This Amendment is not a waiver of any default by Tenant nor of any right of Landlord.

 

8.           Limitation of Liability: Waiver. Under no circumstances shall any present or future owner of Landlord have any liability for the performance of Landlord’s obligations under this Amendment. Tenant and Equipment Lessor waive all claims against Landlord for any damage to any property in or about the Premises, for any loss of business or income, and for injury to or death of any persons, regardless of the cause of any such loss or event (including negligence) or time of occurrence.

9.           Governing Law: Venue. This Amendment shall be governed by and construed in accordance with the laws of the State of Florida, with venue being proper only in Broward County, Florida. In the event of any litigation between the parties hereto with respect to the subject matter hereof, the unsuccessful party agrees to pay the successful party all costs, expenses and reasonable attorney’s fees incurred therein by the successful party, which shall be included as a part of the judgment therein rendered.

10.        Successors. This Amendment shall be binding upon and inure to the benefit of the parties’ respective successors and assigns, subject to all agreements and restrictions contained in the Lease with respect to subleasing, assignment, or other transfer.

11.         Entire Agreement; Amendments. The agreements contained herein constitute the entire understanding between the parties with respect to the subject matter hereof, and supersede all prior agreements, written or oral, inconsistent herewith. No amendment, modification or change therein will be effective unless Landlord shall have given its prior written consent thereto. In the event of inconsistencies or contradictions between this Amendment and the Lease, this .Amendment shall apply. This Amendment may be amended only in writing, signed by all parties hereto.

12.        Warranty. Tenant warrants and confirms that Tenant’s use of the Premises shall comply with the terms of the Lease, including, but not limited to, Section 26 (Environmental Hazards), and all applicable federal, state, municipal, local and environmental laws, rules, regulations and codes now  or at any time hereafter in effect.

13.         Indemnification. Tenant agrees to indemnify and hold Landlord harmless from and against any loss, cost, expense, claim, damage or liability, including, but not limited to, reasonable attorney’s fees, incurred as a result of a claim by any person or entity (i) that it is entitled to a commission, finder’s fee or like payment in connection with this Amendment, (ii) relating to or arising out of this Amendment or any related agreements or dealings, (iii) relating to or arising out of Tenant’s use of the Premises, (iv) related to or arising out of the acts or inactions of Tenant or their employees, agents, invitees or contractors, or (v) relating to, caused by or  arising out of t:i.e Equipment Assets. In the event that Equipment Lessor exercises its right to occupy the Premises during the Step-In Term, pursuant to Section 3 above, Equipment Lessor agrees to indemnify and hold Landlord harmless  from  and against any loss,

 

3

cost, expense, claim, damage or liability, including, but not limited to, reasonable attorney’s fees, incurred as a result of a claim by any person or entity (i) relating to or ari.3ing out of this Amendment or any related agreements or dealings, (ii) relating to or arising out of Equipment Lessor’s use of the Premises, (iii) related to or arising out of the acts or inactions of Equipment Lessor or their employees, agents, invitees or contractors, or (iv) relating to, caused by or arising out of the Equipment Assets.

14.         Estoppel. Tenant acknowledges and agrees that Landlord is not currently in default of any of Landlord’s obligations pursuant to the Lease as of the date hereof.

15.         Ratification of Lease. The Lease, as amended hereby , is in full force and effect, and is ratified and confirmed, and there are no other amendments or modifications therein, except as stated herein.

16.        Counterparts: E-Mail or Facsimile Transmission of Signatures. This Amendment may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute a single integrated document and shall be binding and effective upon each party. The parties agree that a faxed or electronically transmitted copy or copies of this Amendment and/or the signatures contained herein, shall have the same evidentiary and legal effect as the original(s).

IN WITNESS WHEREOF,  the parties hereto have executed this Amendment  under seal, as of the day, month and year first above written.

	
WITNESS: 

	
TENANT:

	
 

	
 

	
 

	
U.S. Stem Cell, Inc.,

	 	a Florida corporation
	
/s/ Julieta Radiche                                      

	
 

	
Print Name: Julieta Radiche                       

	
By: /s/ Mike Tomas                                 

	
 

	
Name: Mike Tomas                                  

	
/s/ Nathane Gil                                             

	
Title: President & CEO                            

	Print Name: Nathane Gil                             	
 

	
 

	
 

	
 

	
 

	
 

	
LANDLORD:

	
 

	
 

	
 

	
Sawgrass Business Plaza, LLC,

	
 

	
a Florida limited liability

	
 

	
 

	
/s/ Alina Carvajal                                        

	
By: /s/ Michael Montero                        

	Print Name: Alina Carvajal                        	
Name: Michael Montero                         

	
 

	
Title: Manager                                          

	
/s/ Caron Davis                                           

	
 

	Print Name: Caron Davis                          	
 

	 	 
	 	EQUIPMENT LESSOR: 
	 	 
	 	GACP Stem Cell Bank LLC,
	
 

	
a Florida limited liability company

	
/s/ Aimee Cabrera                                       

	
 

	Print Name: Aimee Cabrera                       	By: /s/ David Neithoudt                         
		Name: David Neithoudt                         
	
/s/ Jon Raccah                                            

	Title: Authorized signatory                   
	Print Name: Jon Raccah                            	
 

		
 

 

 

4

Exhibit “A”

Equipment  List

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