Document:

exh_101.htm

EXHIBIT 10.1

 

(U.S. AND CANADIAN ACCREDITED PURCHASERS ONLY)

 

NONE OF THE SECURITIES TO WHICH THIS PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT (THE “SUBSCRIPTION AGREEMENT”) RELATES HAVE BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS (AS DEFINED HEREIN) EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

MOBETIZE, CORP.

 

PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT

 

ACCREDITED INVESTORS

INSTRUCTIONS TO PURCHASER

 

	
1.

	
This Subscription form is for use by United States and Non-U.S. Accredited Investors.

	
2.

	
COMPLETE the information on page 2 of this Subscription Agreement.

 

	
3.

	
COMPLETE the Canadian Questionnaire on page 15 to this Subscription Agreement.

 

	
4.

	
If a US resident, COMPLETE the Questionnaire attached on page 11.

 

	
5.

	

All other information must be filled in where appropriate.

 

  

  

  

PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT

 

TO:  MOBETIZE, CORP. (the “Issuer”)

Subject and pursuant to the terms set out in the Terms on page 3 of this Subscription Agreement, the General Provisions on pages 5 to 10 of this Subscription Agreement and the other schedules and appendices attached which are hereby incorporated by reference, the Purchaser hereby irrevocably subscribes for, and on Closing will purchase from the Issuer, the following securities at the following price:

 

	
_____________________ Units

	
US$0.75per Unit for a total purchase price of US$___________________

	
The Purchaser owns, directly or indirectly, the following securities of the Issuer:

	  
	
[Check if applicable]  The Purchaser is ☐ an affiliate of the Issuer or ☐ a professional advisor of the Issuer.

 

The Purchaser directs the Issuer to issue, register and deliver the certificates representing the Shares as follows:

 

	
REGISTRATION INSTRUCTIONS

	  	
DELIVERY INSTRUCTIONS

	  	  	  
	
Name to appear on certificate

	  	
Name and account reference, if applicable

	  	  	  
	
Account reference if applicable

	  	
Contact name

	  	  	  
	
Address

	  	
Address

	  	  	  
	
Tax I.D./E.I.N./S.S.N

	  	
Telephone Number

 

EXECUTED by the Purchaser this___ day of ___________, 2014.  By executing this Subscription Agreement, the Purchaser certifies that the Purchaser and any beneficial purchaser for whom the Purchaser is acting is resident in the jurisdiction shown as the “Address of Purchaser”.

 

	
WITNESS:

	  	
EXECUTION BY PURCHASER:

	  	  	
X

	
Signature of Witness

	  	
Signature of individual (if Purchaser is an individual)

	  	  	
X

	
Name of Witness

	  	
Authorized signatory (if Purchaser is not an individual)

	  	  	  
	
Address of Witness

	  	
Name of Purchaser (please print)

	  	  	  
	  	  	
Name of authorized signatory (please print)

	
ACCEPTED and EFFECTIVE this _____ day of _____________, 2014

	  	  
	
MOBETIZE, CORP.

	  	
Address of Purchaser (residence)

	
Per:

	  	  
	  	  	
*Telephone Number

	
Authorized Signatory

	  	  
	  	  	
*E-mail address

	  	  	  
	  	  	
*Social Security/Insurance No./Gov ID No.:

*Required from all Purchasers

By signing this acceptance, the Issuer agrees to be bound by the Terms of this Subscription Agreement and the other schedules and appendices incorporated by reference. If funds are delivered to the Issuer’s lawyers, they are authorized to release the funds to the Issuer without further authorization from the Purchaser.

  

  

  

TERMS

 

	
Reference date of this Subscription Agreement

	
The date of this Agreement with be the date upon which the Agreement was accepted by Mobtize Corp. (the “Agreement Date”)

 

The Offering

 

	
The Issuer

	
MOBETIZE, CORP. (the “Issuer”)

 

	
Offering

	
The offering consists of units (“Units”) at $0.75 per Unit.   Each Unit will consist of one common share in the capital of the Issuer (each, a “Share”) and one half of one common share purchase warrant (each whole warrant a “Warrant”) subject to adjustment.  Each Warrant shall entitle the holder thereof to purchase one common share in the capital stock of the Issuer (each, a “Warrant Share”), as defined below.  The Warrants will be exercisable for 24 months following the Closing at $1.00 per share.

 

The Shares, Warrants and Warrant Shares are individually and collectively referred to as the “Securities”.

 

	
Warrants

	
Exercisable for twenty-four (24) months from Closing at an exercise price of US$1.00 per share of common stock.

 

	
Purchased Securities

	
The “Purchased Securities” under this Subscription Agreement are Shares, Warrants and the Warrant Shares.

 

	
Offering Restrictions

	
This offering is not subject to any minimum offering.

 

	
Issue Price

	
US$0.75 per Unit.

 

	
Selling Jurisdictions

	
The Units may only be sold in jurisdictions where they may be lawfully sold (the ”Selling Jurisdictions”) including, without limitation, all provinces of Canada, but excluding the Province of Quebec.

 

	
Securities Exemptions

	
The offering will be made in accordance with the following prospectus registration exemptions:

 

(a) the Accredited Investor exemption as defined by Regulation D promulgated under the 1933 Act; or

(b) the exemption afforded by Regulation S of the 1933 Act for offerings of securities in an offshore transaction to persons who are not U.S. persons; and

(c) the Accredited Investor exemption defined in Canadian National Instrument 45-106; or

 

with the approval of the Issuer, such other exemptions as may be available pursuant to the securities laws of the Selling Jurisdictions.

 

	
Closing Date

	
On or before June 30, 2014, or on such other date determined by the Issuer in its discretion.

 

  

  

  

 

	
Subscription Agreement (with related appendices, schedules and forms)

	
Page 4 of 19 

 

	
Resale restrictions and legends

	
The Purchaser acknowledges that the certificates representing the Purchased Securities will bear the following legends:

 

For US purchasers:

 

“THE SECURITIES REPRESENTED HEREBY (and if a warrant, the legend shall include the following: AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF) HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).  THESE SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT OR: (A) TO THE ISSUER, (B) OUTSIDE THE UNITED STATES IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER THE 1933 ACT, (C) IN COMPLIANCE WITH THE EXEMPTION FROM THE REGISTRATION REQUIREMENTS UNDER THE 1933 ACT PROVIDED BY RULE 144 THEREUNDER, IF AVAILABLE, AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS, OR (D) WITH THE PRIOR CONSENT OF THE ISSUER, IN A TRANSACTION T HAT DOES NOT REQUIRE REGISTRATION UNDER THE 1933 ACT OR ANY APPLICABLE STATE SECURITIES LAWS, AND THE HOLDER HAS FURNISHED TO THE ISSUER AN OPINION TO SUCH EFFECT FROM COUNSEL OF RECOGNIZED STANDING REASONABLY SATISFACTORY TO THE ISSUER PRIOR TO SUCH OFFER, SALE, PLEDGE OR TRANSFER.”

 

For Non-U.S. purchasers:

 

THIS PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT (THE “SUBSCRIPTION AGREEMENT”) RELATES TO AN OFFERING OF SECURITIES IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED HEREIN) PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).

 

NONE OF THE SECURITIES TO WHICH THIS SUBSCRIPTION AGREEMENT RELATES HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR TO U.S. PERSONS (AS DEFINED HEREIN) EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

 

Purchasers are advised to consult with their own legal counsel or advisors to determine the resale restrictions that may be applicable to them.

	  	  

 

  

  

  

	
Subscription Agreement (with related appendices, schedules and forms)

	
Page 5 of 19 

 

GENERAL PROVISIONS

 

 

	
1.

	
DEFINITIONS

 

	
1.1 

	
In the Subscription Agreement (including the first (cover) page, the Terms on page 3 and 4, these General Provisions and the other schedules, questionnaires and appendices incorporated by reference), the following words have the following meanings unless otherwise indicated:

 

	
  

	
(a)

	
“1933 Act” means the United States Securities Act of 1933, as amended;

 

	
  

	
(b)

	
“Applicable Legislation” means the Securities Legislation Applicable to the Issuer (as defined on page 8) and all legislation incorporated in the definition of this term in other parts of the Subscription Agreement, together with the regulations and rules made and promulgated under that legislation and all administrative policy statements, blanket orders and rulings, notices and other administrative directions issued by the Commissions;

 

	
  

	
(c)

	
“Closing” means the completion of the sale and purchase of the Purchased Securities;

 

	
  

	
(d)

	
“Closing Date” means the date on which the Closing occurs, which shall be on or before September 3, 2013, or on such other date determined by the Issuer in its discretion;

 

	
  

	
(e)

	
“Closing Year” means the calendar year in which the Closing takes place;

 

	
  

	
(f)

	
“Commissions” means the Commissions with Jurisdiction over the Issuer (as defined below) and the securities commissions incorporated in the definition of this term in other parts of the Subscription Agreement;

 

	
  

	
(g)

	
“Final Closing” means the last Closing under the Private Placement;

 

	
  

	
(h)

	
“General Provisions” means those portions of the Subscription Agreement headed “General Provisions” and contained on pages 5 to 10;

 

	
  

	
(i)

	
“Private Placement” means the offering of the Units on the terms and conditions of this Subscription Agreement;

 

	
  

	
(j)

	
“Purchased Securities” has the meaning assigned in the Terms;

 

	
  

	
(k)

	
“Regulatory Authorities” means the Commissions;

 

	
  

	
(l)

	
“Securities” has the meaning assigned in the Terms;

 

	
  

	
(m)

	
“Subscription Agreement” means the first (cover) page, the Terms on pages 3 to 4, the General Provisions and the other schedules and appendices incorporated by reference; and

 

	 	
(n)  

	
“Terms” means those portions of the Subscription Agreement headed “Terms” and contained on pages 3 to 4.

 

	
1.2 

	
In the Subscription Agreement, the following terms have the meanings defined in Regulation S under the 1933 Act: “Directed Selling Efforts”, “Foreign Issuer”, “Offshore”, “Substantial U.S. Market Interest”, “U.S. Person” and “United States”.

 

	
1.3 

	
In the Subscription Agreement, unless otherwise specified, currencies are indicated in U.S. dollars.

 

	
1.4 

	
In the Subscription Agreement, other words and phrases that are capitalized have the meanings assigned to them in the body hereof.

 

  

  

  

	
Subscription Agreement (with related appendices, schedules and forms)

	
Page 6 of 19 

 

	
2. 

	
Acknowledgements, REPRESENTATIONS AND WARRANTIES OF PURCHASER

 

	
2.1 

	
Acknowledgements concerning offering

 

The Purchaser acknowledges that:

 

	
  

	
(a)

	
the Securities have not been registered under the 1933 Act, or under any state securities or “blue sky” laws of any state of the United States, and are being offered only in a transaction not involving any public offering within the meaning of the 1933 Act, and, unless so registered, may not be offered or sold in the United States or to U.S. Persons (as defined herein), except pursuant to an effective registration statement under the 1933 Act, or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the 1933 Act, and in each case only in accordance with applicable state securities laws;

 

	
  

	
(b)

	
the Issuer will refuse to register any transfer of the Securities not made in accordance with the provisions of Regulation S, pursuant to an effective registration statement under the 1933 Act or pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of the 1933 Act;

 

	
  

	
(c)

	
the Issuer has not undertaken, and will have no obligation, to register any of the Securities under the 1933 Act;

 

	
  

	
(d)

	
the decision to execute this Subscription Agreement and purchase the Units agreed to be purchased hereunder has not been based upon any oral or written representation as to fact or otherwise made by or on behalf of the Issuer and such decision is based entirely upon a review of information (the “Issuer Information”) which has been provided by the Issuer to the Purchaser.  If the Issuer has presented a business plan or any other type of corporate profile to the Purchaser, the Purchaser acknowledges that the business plan, the corporate profile and any projections or predictions contained in any such documents may not be achieved or be achievable;

 

	
  

	
(e)

	
the Purchaser and the Purchaser’s advisor(s) have had a reasonable opportunity to ask questions of and receive answers from the Issuer regarding the Offering, and to obtain additional information, to the extent possessed or obtainable without unreasonable effort or expense, necessary to verify the accuracy of the information contained in the Issuer Information, or any business plan, corporate profile or any other document provided to the Purchaser;

 

	
  

	
(f)

	
the books and records of the Issuer were available upon reasonable notice for inspection, subject to certain confidentiality restrictions, by the Purchaser during reasonable business hours at its principal place of business and that all documents, records and books pertaining to this Offering have been made available for inspection by the Purchaser, the Purchaser’s attorney and/or advisor(s);

 

	
  

	
(g)

	
by execution hereof the Purchaser has waived the need for the Issuer to communicate its acceptance of the purchase of the Units pursuant to this Subscription Agreement;

 

	
  

	
(h)

	
the Issuer is entitled to rely on the representations and warranties and the statements and answers of the Purchaser contained in this Subscription Agreement and in the Questionnaire, and the Purchaser will hold harmless the Issuer from any loss or damage it may suffer as a result of the Purchaser’s failure to correctly complete this Subscription Agreement or the Questionnaire;

 

	
  

	
(i)

	
the Purchaser will indemnify and hold harmless the Issuer and, where applicable, its respective directors, officers, employees, agents, advisors and shareholders from and against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all fees, costs and expenses whatsoever reasonably incurred in investigating, preparing or defending against any claim, lawsuit, administrative proceeding or investigation whether commenced or threatened) arising out of or based upon any representation or warranty of the Purchaser contained herein, the Questionnaire or in any other document furnished by the Purchaser to the Issuer in connection herewith, being untrue in any material respect or any breach or failure by the Purchaser to comply with any covenant or agreement made by the Purchaser to the Issuer in connection therewith;

 

  

  

  

	
Subscription Agreement (with related appendices, schedules and forms)

	
Page 7 of 19 

 

	
  

	
(j)

	
the issuance and sale of the Units to the Purchaser will not be completed if it would be unlawful or if, in the discretion of the Issuer acting reasonably, it is not in the best interests of the Issuer;

 

	
  

	
(k)

	
the Purchaser has been advised to consult its own legal, tax and other advisors with respect to the merits and risks of an investment in the Units and with respect to applicable resale restrictions and it is solely responsible (and the Issuer is in any way responsible) for compliance with applicable resale restrictions;

 

	
  

	
(l)

	
the Securities are not listed on any stock exchange or automated dealer quotation system and no representation has been made to the Purchaser that any of the Securities  will become listed on any stock exchange or automated dealer quotation system;

 

	
  

	
(m)

	
neither the SEC nor any other securities commission or similar regulatory authority has reviewed or passed on the merits of the Securities ;

 

	
  

	
(n)

	
no documents in connection with this Offering have been reviewed by the SEC or any state securities administrators;

 

	
  

	
(o)

	
there is no government or other insurance covering any of the Securities ; and

 

	
  

	
(p)

	
this Subscription Agreement is not enforceable by the Purchaser unless it has been accepted by the Issuer, and the Purchaser acknowledges and agrees that the Issuer reserves the right to reject any Subscription for any reason..

	
2.2 

	
Representations by the Purchaser

 

The Purchaser represents and warrants to the Issuer that, as at the Agreement Date and at the Closing:

 

	
  

	
(a)

	
the Purchaser is resident at the address indicated on page 2 hereof;

 

	
  

	
(b)

	
the Purchaser has received and carefully read this Subscription Agreement;

 

	
  

	
(c)

	
the Purchaser has the legal capacity and competence to enter into and execute this Subscription Agreement and to take all actions required pursuant hereto and, if the Purchaser is a corporation, it is duly incorporated and validly subsisting under the laws of its jurisdiction of incorporation and all necessary approvals by its directors, shareholders and others have been obtained to authorize execution and performance of this Subscription Agreement on behalf of the Purchaser;

 

	
  

	
(d)

	
the Purchaser (i) has adequate net worth and means of providing for its current financial needs and possible personal contingencies, (ii) has no need for liquidity in this investment, and (iii) is able to bear the economic risks of an investment in the Units for an indefinite period of time, and can afford the complete loss of such investment;

 

	
  

	
(e)

	
the Purchaser is aware that an investment in the Issuer is speculative and involves certain risks, including the possible loss of the investment;

 

	
  

	
(f)

	
the entering into of this Subscription Agreement and the transactions contemplated hereby do not result in the violation of any of the terms and provisions of any law applicable to, or, if applicable, the constating documents of, the Purchaser, or of any agreement, written or oral, to which the Purchaser may be a party or by which the Purchaser is or may be bound;

 

	
  

	
(g)

	
the Purchaser has duly executed and delivered this Subscription Agreement and it constitutes a valid and binding agreement of the Purchaser enforceable against the Purchaser;

 

	
  

	
(h)

	
the Purchaser has the requisite knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of the investment in the Units and the Issuer, and the Purchaser is providing evidence of such knowledge and experience in these matters through the information requested in the Questionnaire;

 

  

  

  

	
Subscription Agreement (with related appendices, schedules and forms)

	
Page 8 of 19 

 

	
  

	
(i)

	
the Purchaser understands and agrees that the Issuer and others will rely upon the truth and accuracy of the acknowledgements, representations and agreements contained in this Subscription Agreement, and agrees that if any of such acknowledgements, representations and agreements are no longer accurate or have been breached, the Purchaser shall promptly notify the Issuer;

 

	
  

	
(j)

	
all information contained in the Questionnaire is complete and accurate and may be relied upon by the Issuer, and the Purchaser will notify the Issuer immediately of any material change in any such information occurring prior to the Closing of the purchase of the Securities ;

 

	
  

	
(k)

	
the Purchaser is purchasing the Units for its own account for investment purposes only and not for the account of any other person and not for distribution, assignment or resale to others, and no other person has a direct or indirect beneficial interest is such Units, and the Purchaser has not subdivided his interest in the Units with any other person;

 

	
  

	
(l)

	
the Purchaser is not an underwriter of, or dealer in, the common shares of the Issuer, nor is the Purchaser participating, pursuant to a contractual agreement or otherwise, in the distribution of the Securities ;

 

	
  

	
(m)

	
the Purchaser has made an independent examination and investigation of an investment in the Units and the Issuer and has depended on the advice of its legal and financial advisors and agrees that the Issuer will not be responsible in anyway whatsoever for the Purchaser’s decision to invest in the Units and the Issuer;

 

	
  

	
(n)

	
if the Purchaser is acquiring the Units as a fiduciary or agent for one or more investor accounts, the investor accounts for which the Purchaser acts as a fiduciary or agent satisfy the definition of an “Accredited Investor”, as the term is defined under Regulation D of the 1933 Act;

 

	
  

	
(o)

	
if the Purchaser is acquiring the Units as a fiduciary or agent for one or more investor accounts, the Purchaser has sole investment discretion with respect to each such account, and the Purchaser has full power to make the foregoing acknowledgements, representations and agreements on behalf of such account;

 

	
  

	
(p)

	
the Purchaser is not aware of any advertisement of any of the Units and is not acquiring the Units as a result of any form of general solicitation or general advertising including advertisements, articles, notices or other communications published in any newspaper, magazine or similar media or broadcast over radio or television, or any seminar or meeting whose attendees have been invited by general solicitation or general advertising; and

 

	
  

	
(q)

	
no person has made to the Purchaser any written or oral representations:

 

	
  

	
(i)

	
that any person will resell or repurchase any of the Securities ;

 

	
  

	
(ii)

	
that any person will refund the purchase price of any of the Securities ;

 

	
  

	
(iii)

	
as to the future price or value of any of the Securities; or

 

	
  

	
(iv)

	
that any of the Securities will be listed and posted for trading on any stock exchange or automated dealer quotation system or that application has been made to list and post any of the Securities of the Issuer on any stock exchange or automated dealer quotation system.

 

  

  

  

	
Subscription Agreement (with related appendices, schedules and forms)

	
Page 9 of 19 

 

	
2.3 

	
Reliance, indemnity and notification of changes

 

The representations and warranties in the Subscription Agreement (including the first (cover) page, the Terms, the General Provisions and the other schedules and appendices incorporated by reference) are made by the Purchaser with the intent that they be relied upon by the Issuer in determining its suitability as a purchaser of Purchased Securities, and the Purchaser hereby agrees to indemnify the Issuer against all losses, claims, costs, expenses and damages or liabilities which any of them may suffer or incur as a result of reliance thereon. The Purchaser undertakes to notify the Issuer immediately of any change in any representation, warranty or other information relating to the Purchaser set forth in the Subscription Agreement (including the first (cover) page, the Terms, the General Provisions and the other schedules and appendices incorporated by reference) which takes place prior to the Closing.

	
2.4 

	
Survival of representations and warranties

 

The representations and warranties contained in this Section will survive the Closing.

 

	
3. 

	
ISSUER’S ACCEPTANCE

 

The Subscription Agreement, when executed by the Purchaser, and delivered to the Issuer, will constitute a subscription for Units which will not be binding on the Issuer until accepted by the Issuer by executing the Subscription Agreement in the space provided on the face page(s) of the Agreement and, notwithstanding the Agreement Date, if the Issuer accepts the subscription by the Purchaser, the Subscription Agreement will be entered into on the date of such execution by the Issuer.

 

	
4. 

	
CLOSING

 

4.1        On or before the end of the business day before the Closing Date, the Purchaser will deliver to the Issuer the Subscription Agreement and all applicable schedules and required forms, duly executed, and payment in full for the total price of the Purchased Securities to be purchased by the Purchaser.

 

4.2        At Closing, the Issuer will deliver to the Purchaser the certificates representing the Purchased Securities purchased by the Purchaser registered in the name of the Purchaser or its nominee, or as directed by the Purchaser.

 

	
5. 

	
MISCELLANEOUS

 

5.1        The Purchaser agrees to sell, assign or transfer the Securities only in accordance with the requirements of applicable securities laws and any legends placed on the Securities as contemplated by the Subscription Agreement.

 

5.2        The Purchaser hereby authorizes the Issuer to correct any minor errors in, or complete any minor information missing from any part of the Subscription Agreement and any other schedules, forms, certificates or documents executed by the Purchaser and delivered to the Issuer in connection with the Private Placement.

 

5.3        The Issuer may rely on delivery by fax machine of an executed copy of this subscription, and acceptance by the Issuer of such faxed copy will be equally effective to create a valid and binding agreement between the Purchaser and the Issuer in accordance with the terms of the Subscription Agreement.

 

5.4        Without limitation, this subscription and the transactions contemplated by this Subscription Agreement are conditional upon and subject to the Issuer’s having obtained such regulatory approval of this subscription and the transactions contemplated by this Subscription Agreement as the Issuer considers necessary.

 

5.5        This Subscription Agreement is not assignable or transferable by either party hereto without the express written consent of the other party to this Subscription Agreement.

 

5.6        Time is of the essence of this Subscription Agreement.

 

5.7        Except as expressly provided in this Subscription Agreement and in the agreements, instruments and other documents contemplated or provided for in this Subscription Agreement, this Subscription Agreement contains the entire agreement between the parties with respect to the Securities and there are no other terms, conditions,

 

  

  

  

	
Subscription Agreement (with related appendices, schedules and forms)

	
Page 10 of 19 

 

representations or warranties whether expressed, implied, oral or written, by statute, by common law, by the Issuer, or by anyone else.

 

5.8        The parties to this Subscription Agreement may amend this Subscription Agreement only in writing.

 

5.9        This Subscription Agreement enures to the benefit of and is binding upon the parties to this Subscription Agreement and their successors and permitted assigns.

 

5.10        A party to this Subscription Agreement will give all notices to or other written communications with the other party to this Subscription Agreement concerning this Subscription Agreement by hand or by registered mail addressed to the address given on page 2.

 

5.11        This Subscription Agreement is to be read with all changes in gender or number as required by the context.

 

5.12        This Subscription Agreement will be governed by and construed in accordance with the internal laws of Ontario (without reference to its rules governing the choice or conflict of laws), and the parties hereto irrevocably attorn and submit to the exclusive jurisdiction of the courts of Ontario with respect to any dispute related to this Subscription Agreement.

 

End of General Provisions

 

 

 

 

 

 

 

 

  

  

  

	
Subscription Agreement (with related appendices, schedules and forms)

	
Page 11 of 19 

 

UNITED STATES

ACCREDITED INVESTOR QUESTIONNAIRE

 

All capitalized terms herein, unless otherwise defined, have the meanings ascribed thereto in the Subscription Agreement.

 

This Questionnaire is for use by each Purchaser who is a US person (as that term is defined Regulation S of the United States Securities Act of 1933 (the “1933 Act”)) and has indicated an interest in purchasing Shares of the Issuer.  The purpose of this Questionnaire is to assure the Issuer that each Purchaser will meet the standards imposed by the 1933 Act and the appropriate exemptions of applicable state securities laws.  The Issuer will rely on the information contained in this Questionnaire for the purposes of such determination.  The Securities will not be registered under the 1933 Act in reliance upon the exemption from registration afforded by Section 3(b) and/or Section 4(2) and Regulation D of the 1933 Act.  This Questionnaire is not an offer of the Securities or any other securities of the Issuer in any state other than those specifically authorized by the Issuer.

 

All information contained in this Questionnaire will be treated as confidential.  However, by signing and returning this Questionnaire, each Purchaser agrees that, if necessary, this Questionnaire may be presented to such parties as the Issuer deems appropriate to establish the availability, under the 1933 Act or applicable state securities law, of exemption from registration in connection with the sale of the Securities hereunder.

 

The Purchaser covenants, represents and warrants to the Issuer that it satisfies one or more of the categories of “Accredited Investors”, as defined by Regulation D promulgated under the 1933 Act, as indicated below:  (Please initial in the space provide those categories, if any, of an “Accredited Investor” which the Purchaser satisfies.)

 

	
______  

	
  Category 1

	
An organization described in Section 501(c)(3) of the United States Internal Revenue Code, a corporation, a Massachusetts or similar business trust or partnership, not formed for the specific purpose of acquiring the Securities, with total assets in excess of US $5,000,000.

 

	
______  

	
  Category 2

	
A natural person whose individual net worth, or joint net worth with that person’s spouse (excluding their primary residence), on the date of purchase exceeds US $1,000,000.

 

	
______  

	
  Category 3

	
A natural person who had an individual income in excess of US $200,000 in each of the two most recent years or joint income with that person’s spouse in excess of US $360,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year.

 

	
______  

	
  Category 4

	
A “bank” as defined under Section (3)(a)(2) of the 1933 Act or savings and loan association or other institution as defined in Section 3(a)(5)(A) of the 1933 Act acting in its individual or fiduciary capacity; a broker dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934 (United States); an insurance Issuer as defined in Section 2(13) of the 1933 Act; an investment Issuer registered under the Investment Issuer Act of 1940 (United States) or a business development Issuer as defined in Section 2(a)(48) of such Act; a Small Business Investment Issuer licensed by the U.S. Small Business Administration under Section 361(c) or (d) of the Small Business Investment Act of 1958 (United States); a plan with total assets in excess of $5,000,000 established and maintained by a state, a political subdivision thereof, or an agency or instrumentality of a state or a political subdivision thereof, for the benefit of its employees; an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 (United States) whose investment decisions are made by a plan fiduciary, as defined in Section 3(21) of such Act, which is either a bank, savings and loan association, insurance Issuer or registered investment adviser, or if the employee benefit plan has total assets in excess of $5,000,000, or, if a self-directed plan, whose investment decisions are made solely by persons that are accredited investors.

 

	
______  

	
  Category 5

	
A private business development Issuer as defined in Section 202(a)(22) of the Investment Advisers Act of 1940 (United States).

 

	
______  

	
  Category 6

	
A director or executive officer of the Issuer.

 

  

  

  

	
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Page 12 of 19 

 

	
______  

	
  Category 7

	
A trust with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Securities, whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) under the 1933 Act.

 

	
______  

	
  Category 8

	
An entity in which all of the equity owners satisfy the requirements of one or more of the foregoing categories.

 

Note that prospective Purchaser claiming to satisfy one of the above categories of Accredited Investor may be required to supply the Issuer with a balance sheet, prior years’ federal income tax returns or other appropriate documentation to verify and substantiate the Purchaser’s status as an Accredited Investor.

 

If the Purchaser is an entity which initialled Category 8 in reliance upon the Accredited Investor categories above, state the name, address, total personal income from all sources for the previous calendar year, and the net worth (exclusive of home, home furnishings and personal automobiles) for each equity owner of the said entity:

 

 

Purchaser’s Acknowledgements.  The Purchaser acknowledges and agrees (on its own behalf and, if applicable, on behalf of each beneficial purchaser for whom the Purchaser is contracting hereunder) with the Issuer, the U.S. Affiliates and the Agents (which acknowledgements and agreements shall survive the Closing) that:

 

	
  

	
(a)

	
no agency, governmental authority, regulatory body, stock exchange or other entity has made any finding or determination as to the merit for investment of, nor have any such agencies or governmental authorities, regulatory bodies, stock exchanges or other entities made any recommendation or endorsement with respect to, the Securities;

 

	
  

	
(b)

	
the sale and delivery of the Securities is conditional upon such sale being exempt from the prospectus filing and registration requirements, and being exempt from the requirement to deliver an offering memorandum in connection with the distribution of the Securities under the applicable securities laws or upon the issuance of such orders, consents or approvals as may be required to permit such sale without the requirement of filing a prospectus or registration statement;

 

	
  

	
(c)

	
none of the Securities have been or will be registered under the 1933 Act or the securities laws of any state and the Securities may not be offered or sold, directly or indirectly, in the United States to, or for the account or benefit of, a U.S. Person or a person in the United States unless registered under the 1933 Act and the securities laws of all applicable states or unless an exemption from such registration requirements is available, and the Issuer has no obligation or present intention of filing a registration statement under the U.S. Securities Act in respect of any of the Securities ;

 

	
  

	
(d)

	
the Purchaser may not offer, sell or transfer the Securities within the United States or to, or for the account or benefit of, a U.S. Person, unless the Securities are registered under the 1933 Act and the securities laws of all applicable states or an exemption from such registration requirements is available;

 

	
  

	
(e)

	
the acquisition of the Securities  has not been made through or as a result of any “general solicitation or general advertising” (as such terms are used in Rule 502(c) of Regulation D) the distribution of the Securities has not been accompanied by any advertisement, including, without limitation, in printed public media, radio, television or telecommunications, including electronic display, or as part of a general solicitation;

 

	
  

	
(f)

	
the certificates evidencing the Securities will bear a legend, and the certificates evidencing the Warrant Shares may bear a legend, regarding restrictions on transfer as required pursuant to applicable Securities Laws, including applicable federal and state securities laws of the United States;

 

	
  

	
(g)

	
the Issuer is relying on an exemption from the requirements to provide the Purchaser with a prospectus or registration statement and to sell securities through a person or Issuer registered to sell securities under the securities laws or other applicable securities legislation and, as a consequence of acquiring Securities pursuant to this exemption, certain protections, rights and

 

  

  

  

	
Subscription Agreement (with related appendices, schedules and forms)

	
Page 13 of 19 

 

	
  

	
remedies provided by the securities laws or other applicable securities legislation including statutory rights of rescission or damages, will not be available to the Purchaser; and

 

	
  

	
(h)

	
no person has made to the Purchaser any written or oral representations:

 

	
  

	
(i)

	
that any person will resell or repurchase the Securities ;

 

	
  

	
(ii)

	
that any person will refund the purchase price of the Securities ; or

 

	
  

	
(iii)

	
as to the future price or value of any of the Securities .

 

Representations, Warranties and Covenants. The Purchaser hereby represents and warrants to, and covenants with the Issuer which representations, warranties and covenants shall survive the Closing, that as at the execution date of certificate and the Closing Date:

 

	
  

	
(a)

	
it acknowledges that the Issuer has not filed a prospectus or registration statement with any of the securities regulators or any other securities commission or similar authority in connection with the distribution of the Securities and that:

 

	
  

	
(i)

	
the Purchaser is restricted from using most of the civil remedies available under the applicable securities laws;

 

	
  

	
(ii)

	
the Purchaser may not receive information that would otherwise be required to be provided to him under the applicable securities laws;

 

	
  

	
(iii)

	
the Purchaser is relieved from certain obligations that it would otherwise be required to give if it provided a prospectus or registration statement under the applicable securities laws; and

 

	
  

	
(iv)

	
the issuance and sale of the Securities to the Purchaser is subject to the sale being exempt from the prospectus and registration requirements of the applicable securities laws.

 

	
  

	
(b)

	
the Purchaser further acknowledges that:

 

	
  

	
(i)

	
no securities commission or similar regulatory authority has reviewed or passed on the merits of the Securities ;

 

	
  

	
(ii)

	
there is no government or other insurance covering the Securities ;

 

	
  

	
(iii)

	
there are risks associated with the purchase of the Securities ; and

 

	
  

	
(iv)

	
there are restrictions on the Purchaser’s (or beneficial purchaser’s, if applicable) ability to re-sell the Securities and it is the responsibility of the Purchaser to find out what those restrictions are and to comply with them before selling the Securities;

 

	
  

	
(c)

	
if required by applicable Securities Laws, and any other applicable law the Purchaser will execute, deliver, file and otherwise assist the Issuer in filing such reports, undertakings and other documents with respect to the issuance of the Securities as may be required.

 

	
  

	
(d)

	
The Purchaser understands that the Securities are restricted securities (as defined in Rule 144 under the 1933 Act) and agrees that if it decides to offer, sell or otherwise transfer the Securities, it will not offer, sell or otherwise transfer any of such securities directly or indirectly, unless:

 

	
  

	
(i)

	
the transfer is to the Issuer;

 

	
  

	
(ii)

	
The transfer is outside the United States in a transaction meeting the requirements of Rule 904 of Regulation S under the 1933 Act (“Regulation S”) and in compliance with applicable local laws and regulations of the jurisdiction(s) in which such sale is made;

 

  

  

  

	
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(iii)

	
the transfer is made pursuant to the exemption from t he registration requirements under the 1933 Act provided by Rule 144 thereunder, if available, and in accordance with applicable state securities laws; or

 

	
  

	
(iv)

	
the Securities are transferred in a transaction that does not require registration under the 1933 Act or any applicable state securities laws, and the Purchaser has prior to such sale furnished to the Issuer an opinion of counsel of recognized standing or other evidence of exemption, in either case reasonably satisfactory to the Issuer; and

 

	
  

	
(e)

	
the Purchaser understands and acknowledges that upon the issuance thereof, and until such time as the same is no longer required under the applicable requirements of the 1933 Act or applicable U.S. state securities laws and regulations, the certificates representing the Securities, and all securities issued in exchange therefore or in substitution thereof, will bear a legend in substantially the following form:

 

“THE SECURITIES REPRESENTED HEREBY (and if a warrant, the legend shall include the following: AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF) HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).  THESE SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT OR: (A) TO THE ISSUER, (B) OUTSIDE THE UNITED STATES IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER THE 1933 ACT, (C) IN COMPLIANCE WITH THE EXEMPTION FROM THE REGISTRATION REQUIREMENTS UNDER THE 1933 ACT PROVIDED BY RULE 144 THEREUNDER, IF AVAILABLE, AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS, OR (D) WITH THE PRIOR CONSENT OF THE ISSUER, IN A TRANSACTION T HAT DOES NOT REQUIRE REGISTRATION UNDER THE 1933 ACT OR ANY APPLICABLE STATE SECURITIES LAWS, AND THE HOLDER HAS FURNISHED TO THE ISSUER AN OPINION TO SUCH EFFECT FROM COUNSEL OF RECOGNIZED STANDING REASONABLY SATISFACTORY TO THE ISSUER PRIOR TO SUCH OFFER, SALE, PLEDGE OR TRANSFER.”

 

The Purchaser hereby certifies that the information contained in this Questionnaire is complete and accurate and the Purchaser will notify the Issuer promptly of any change in any such information.  If this Questionnaire is being completed on behalf of a corporation, partnership, trust or estate, the person executing on behalf of the Purchaser represents that it has the authority to execute and deliver this Questionnaire on behalf of such entity.

 

IN WITNESS WHEREOF, the undersigned has executed this Questionnaire as of the ___ day of ________, 2014.

 

	
If a Corporation, Partnership or Other Entity:

	  	
If an Individual:

	  	  	  
	  	  	  
	
Print of Type Name of Entity

	  	
Signature

	  	  	  
	  	  	  
	
Signature of Authorized Signatory

	  	
Print or Type Name

	  	  	  
	  	  	  
	
Type of Entity

	  	
Social Security/Tax I.D. No.

 

  

  

  

	
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NATIONAL INSTRUMENT 45-106 CANADIAN

ACCREDITED INVESTOR QUESTIONNAIRE

 

In addition to the representations, warranties acknowledgments and agreements contained in the subscription to which this Certificate for Exemption is attached, the Purchaser, for itself or on behalf of any Disclosed Principal, as applicable, hereby represents, warrants and certifies to the Issuer that the Purchaser or the Disclosed Principal, as applicable, is purchasing the securities set out in the subscription as principal, that it is resident in the jurisdiction set out on the Acceptance Page of the subscription and: [check all appropriate boxes]

 

Category 1:  Accredited Investor

 

The Purchaser or the Disclosed Principal, as applicable, is:

 

	
☐  (a)

	
a Canadian financial institution, or a Schedule III bank;

 

	
☐  (b)

  	
the Business Development Bank of Canada incorporated under the Business Development Bank of Canada Act;

	
☐  (c)

  	
a subsidiary of any person referred to in paragraphs (a) or (b), if the person owns all of the voting securities of the subsidiary, except the voting securities required by law to be owned by directors of that subsidiary;

	
☐  (d)

  	
a person registered under the securities legislation of a jurisdiction of Canada, as an adviser or dealer, other than a person registered solely as a limited market dealer under one or both of the Securities Act (Ontario), or the Securities Act (Newfoundland and Labrador);

	
☐  (e)

  	
an individual registered or formerly registered under the securities legislation of a jurisdiction of Canada as a representative of a person referred to in paragraph (d);

	
☐  (f)

  	
the Government of Canada or a jurisdiction of Canada, or any crown corporation, agency or wholly owned entity of the Government of Canada or a jurisdiction of Canada;

	
☐  (g)

  	
a municipality, public board or commission in Canada and a metropolitan community, school board, the Comité de gestion de la taxe scolaire de l’île de Montréal or an intermunicipal management board in Québec;

	
☐  (h)

  	
any national, federal, state, provincial, territorial or municipal government of or in any foreign jurisdiction, or any agency of that government;

	
☐  (i)

  	
a pension fund that is regulated by either the Office of the Superintendent of Financial Institutions (Canada) or a pension commission or similar regulatory authority of a jurisdiction of Canada;

	
☐  (j)

  	
an individual who, either alone or with a spouse, beneficially owns, directly or indirectly, financial assets having an aggregate realizable value that before taxes, but net of any related liabilities, exceeds Cdn$1,000,000;

	
☐  (k)

  	
an individual whose net income before taxes exceeded Cdn$200,000 in each of the two most recent calendar years or whose net income before taxes combined with that of a spouse exceeded Cdn$300,000 in each of the two most recent calendar years and who, in either case, reasonably expects to exceed that net income level in the current calendar year;

	
☐  (l)

  

	
an individual who, either alone or with a spouse, has net assets of at least Cdn$5,000,000;

	
☐  (m)

  	
a person, other than an individual or investment fund, that has net assets of at least Cdn$5,000,000 as shown on its most recently prepared financial statements;

 

  

  

  

	
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☐  (n)

	
an investment fund that distributes or has distributed its securities only to:

 

(i) a person that is or was an accredited investor at the time of the distribution;

 

(ii) a person that acquires or acquired securities in the circumstances referred to in sections 2.10 and 2.19 of NI 45-106, or

 

(iii) a person described in paragraph (i) or (ii) that acquires or acquired securities under section 2.18 of NI 45-106;

 

	
☐  (o)

  	
an investment fund that distributes or has distributed securities under a prospectus in a jurisdiction of Canada for which the regulator or, in Quebec, the securities regulatory authority, has issued a receipt;

	
☐  (p)

  	
a trust Issuer or trust corporation registered or authorized to carry on business under the Trust and Loan Companies Act (Canada) or under comparable legislation in a jurisdiction of Canada or a foreign jurisdiction, acting on behalf of a fully managed account managed by the trust Issuer or trust corporation, as the case may be;

	
☐  (q) 

	
a person acting on behalf of a fully managed account managed by that person, if that person:

 

(i)is registered or authorized to carry on business as an adviser or the equivalent under the securities legislation of a jurisdiction of Canada or a foreign jurisdiction; and

 

(ii)in Ontario, is purchasing a security that is not a security of an investment fund;

 

	
☐  (r)

  	
a registered charity under the Income Tax Act (Canada) that, in regard to the trade, has obtained advice from an eligibility adviser or an adviser registered under the securities legislation of the jurisdiction of the registered charity to give advice on the securities being traded;

	
☐  (s)

  	
an entity organized in a foreign jurisdiction that is analogous to any of the entities referred to in paragraphs (a) to (d) or paragraph (i) in form and function;

	
☐  (t)

  	
a person in respect of which all of the owner of interests, direct, indirect or beneficial, except the voting securities required by law to be owned by directors, are persons that are accredited investors;

	
☐  (u)

  	
an investment fund that is advised by a person registered as an adviser or a person that is exempt from registration as an adviser, or

	
☐  (v)

 

  	
a person that is recognized or designated by the securities regulatory authority or, except in Ontario and Quebec, the regulator as:

 

(i) an accredited investor; or

 

(ii) an exempt purchaser in Alberta or British Columbia after NI 45-106 comes into force.

 

Definitions:

 

“Canadian financial institution” means

 

	
  

	
(a)

	
an association governed by the Cooperative Credit Associations Act (Canada) or a central cooperative credit society for which an order has been made under section 473(1) of that Act, or

 

	
  

	
(b)

	
a bank, loan corporation, trust Issuer, trust corporation, insurance Issuer, treasury branch, credit union, caisse populaire, financial services cooperative, or league that, in each case, is authorized by an enactment of Canada or a jurisdiction of Canada to carry on business in Canada or a jurisdiction of Canada;

 

“EVCC” means an employee venture capital corporation that does not have a restricted constitution, and is registered under Part 2 of the Employee Investment Act (British Columbia), R.S.B.C. 1996 c. 112, and whose business objective is making multiple investments;

 

  

  

  

	
Subscription Agreement (with related appendices, schedules and forms)

	
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“financial assets” means

 

	
  

	
(a)

	
cash,

 

	
  

	
(b)

	
securities, or

 

	
  

	
(c)

	
a contract of insurance, a deposit or an evidence of a deposit that is not a security for the purposes of securities legislation;

 

“fully managed account” means an account of a client for which a person makes the investment decisions if that person has full discretion to trade in securities for the account without requiring the client’s express consent to a transaction;

 

“investment fund” means a mutual fund or a non-redeemable investment fund, and, for greater certainty in British Columbia, includes an EVCC and a VCC;

 

“person” includes

 

	
  

	
(a)

	
an individual,

 

	
  

	
(b)

	
a corporation,

 

	
  

	
(c)

	
a partnership, trust, fund and an association, syndicate, organization or other organized group of persons, whether incorporated or not, and

 

	
  

	
(d)

	
an individual or other person in that person’s capacity as a trustee, executor, administrator or personal or other legal representative;

 

“related liabilities” means

 

	
  

	
(a)

	
liabilities incurred or assumed for the purpose of financing the acquisition or ownership of financial assets, or

 

	
  

	
(b)

	
liabilities that are secured by financial assets;

 

“Schedule III bank” means an authorized foreign bank named in Schedule III of the Bank Act (Canada);

 

“spouse” means, an individual who,

 

	
  

	
(a)

	
is married to another individual and is not living separate and apart within the meaning of the Divorce Act (Canada), from the other individual, or

 

	
  

	
(b)

	
is living with another individual in a marriage-like relationship, including a marriage-like relationship between individuals of the same gender; or

 

	
  

	
(c)

	
in Alberta, is an individual referred to in paragraph (a) or (b), or is an adult interdependent partner within the meaning of the Adult Interdependent Relationships Act (Alberta);

 

“subsidiary” means in issuer that is controlled directly or indirectly by another issuer and includes a subsidiary of that subsidiary;

 

“VCC” means a venture capital corporation registered under Part 1 of the Small Business Venture Capital Act (British Columbia), R.S.B.C. 1996 c. 429, whose business objective is making multiple investments.

 

The representations, warranties, statements and certification made in this Certificate are true and accurate as of the date of this Certificate and will be true and accurate as of the Closing.  If any such representation, warranty, statement or certification becomes untrue or inaccurate prior to the Closing, the Purchaser shall give the Issuer immediate written notice thereof.

 

Category 2:  Family, Friends and Business Associates or Founder, Control Person and Family

 

The Purchaser or the Disclosed Principal, as applicable:

 

	
  

	
1.

	
has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of the transactions detailed in the Subscription Agreement and the Purchaser is able to bear the economic risk of loss arising from such transactions;

 

	
  

	
2.

	
is (tick one or more of the following boxes):

 

  

  

  

	
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Page 18 of 19 

 

	 	
(A)      

	
a director, executive officer, employee or control person of the Issuer or an affiliate of the Issuer

	
☐

  
	 	
(B)       

	
a spouse, parent, grandparent, brother, sister or child of a director, executive officer, founder or control person of the Issuer or an affiliate of the Issuer

	
☐

  

	 	
(C)       

	
a parent, grandparent, brother, sister or child of the spouse of a director, executive officer, founder or control person of the Issuer or an affiliate of the Issuer

	
☐ 

 

	 	
(D)       

	
a close personal friend of a director, executive officer, founder or control person of the Issuer

	
☐

 

	 	
(E)       

	
a close business associate of a director, executive officer, founder or control person of the Issuer or an affiliate of the Issuer

	
☐

 

	 	
(F)       

	
an accredited investor

	
☐

 

	 	
(G)       

	
a company, partnership or other entity of which a majority of the voting securities are beneficially owned by, or a majority of the directors are, persons described in paragraphs A to F

	
☐

 

	 	
(H)       

	
a trust or estate of which all of the beneficiaries or a majority of the trustees or executors are persons described in paragraphs A to F

	
☐

  
	 	
(I)        

	
purchasing as principal Securities with an aggregate acquisition cost of not less than CDN$150,000

	
☐

  

 

	
  

	
3.

	
if the Purchaser or the Disclosed Principal, as applicable, has checked box B, C, D, E, G or H in Section 2 above, the director, executive officer, founder or control person of the Issuer with whom the undersigned has the relationship is:

 

	 	 

 

(Instructions to the Purchaser or the Disclosed Principal, as applicable: fill in the name of each director, executive officer, founder and control person which you have the above-mentioned relationship with.  If you have checked box G or H, also indicate which of A to F describes the securityholders, directors, trustees or beneficiaries which qualify you as box G or H and provide the names of those individuals.  Please attach a separate page if necessary).

 

	
  

	
4.

	
if the Purchaser or the Disclosed Principal, as applicable, is resident in Ontario, the Purchaser or the Disclosed Principal, as applicable, is (tick one or more of the following boxes):

 

	 	
(A)

	
a founder of the Issuer

	
☐

  
	 	
(B)

	
an affiliate of a founder of the Issuer

	
☐

  
	 	
(C)

	
a spouse, parent, brother, sister, grandparent or child of a director, executive officer or founder of the Issuer

	
☐

 

	 	
(D)

	
a person that is a control person of the Issuer

	☐ 

 

	 	
(E)

	
an accredited investor

	☐ 

 

	 	
(F)

	
purchasing as principal Securities with an aggregate acquisition cost of not less than CDN$150,000

	☐ 

 

 

  

  

  

	
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Page 19 of 19 

 

	
  

	
5.

	
if the Purchaser or the Disclosed Principal, as applicable, has checked box A, B, C or D in Section 4 above, the director, executive officer, founder or control person of the Issuer with whom the undersigned has the relationship is:

 

  

	 	 

 

(Instructions to Purchaser or the Disclosed Principal, as applicable,: fill in the name of each director, executive officer, founder, affiliate and control person which you have the above-mentioned relationship with.)

 

	
  

	
6.

	
if the Purchaser or the Disclosed Principal, as applicable, has ticked box F in Section 2 or box E in Section 4 above, the Purchaser or the Disclosed Principal, as applicable, satisfies one or more of the categories of “accredited investor” (as that term is defined in NI 45-106) indicated in Category 1: Accredited Investor above.

 

The Purchaser acknowledges and agrees that the Issuer will and can rely on this Certificate in connection with the Purchaser’s Subscription Agreement.

 

EXECUTED by the Purchaser at ______________________ this _____day of _________, 2014.

 

	
If a corporation, partnership or other entity:

	  	
If an individual:

	  	  	  
	  	  	  
	
Print Name of Purchaser/Disclosed Principal

	  	
Print Name of Purchaser/Disclosed Principal

	  	  	  
	  	  	  
	
Signature of Authorized Signatory

	  	
Signature

	  	  	  
	  	  	  
	
Name and Position of Authorized Signatory

	  	
Representative Capacity, if applicable

	 	 	 
	 	 	 

Jurisdiction of Residence of Purchaser/DisclosedEX-10.1

 Exhibit 10.1 

AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 

by and among 
 HERCULES
FUNDING II LLC 
 as Borrower, 

THE LENDERS THAT ARE SIGNATORIES HERETO 

as the Lenders, 
 and

 WELLS FARGO CAPITAL FINANCE, LLC 

as the Arranger and Administrative Agent, 

Dated as of June 29, 2015 
  

  
 -1- 

 TABLE OF CONTENTS 

 

									
	 1.
		DEFINITIONS AND CONSTRUCTION		 	1	  
				
			1.1		Definitions		 	1	  
				
			1.2		Accounting Terms		 	28	  
				
			1.3		Code		 	28	  
				
			1.4		Construction		 	28	  
				
			1.5		Schedules and Exhibits		 	29	  
			
	 2.
		LOAN AND TERMS OF PAYMENT		 	29	  
				
			2.1		Revolver Advances		 	29	  
				
			2.2		Borrowing Procedures and Settlements		 	30	  
				
			2.3		Payments		 	37	  
				
			2.4		Overadvances and Required Amortization Amount		 	40	  
				
			2.5		Interest Rates: Rates, Payments, and Calculations		 	41	  
				
			2.6		Cash Management		 	42	  
				
			2.7		Crediting Payments		 	43	  
				
			2.8		Designated Account		 	43	  
				
			2.9		Maintenance of Loan Account; Statements of Obligations		 	43	  
				
			2.10		Fees		 	44	  
				
			2.11		Capital Requirements		 	44	  
				
			2.12		LIBOR Option		 	45	  
				
			2.13		Restatement of Obligations		 	47	  
			
	 3.
		CONDITIONS; TERM OF AGREEMENT		 	47	  
				
			3.1		Conditions Precedent to the Initial Extension of Credit		 	47	  
				
			3.2		Conditions Subsequent to the Initial Extension of Credit		 	49	  
				
			3.3		Conditions Precedent to all Extensions of Credit		 	50	  
				
			3.4		Term		 	50	  
				
			3.5		Effect of Termination		 	50	  
				
			3.6		Early Termination by Borrower		 	51	  
			
	 4.
		CREATION OF SECURITY INTEREST		 	51	  
				
			4.1		Grant of Security Interest		 	51	  
				
			4.2		Negotiable Collateral		 	51	  
				
			4.3		Collection of Accounts, General Intangibles, and Negotiable Collateral		 	52	  

  
 -i- 

 TABLE OF CONTENTS 

 

									
				
			4.4		Filing of Financing Statements; Commercial Tort Claims; Delivery of Additional Documentation Required		 	52	  
				
			4.5		Power of Attorney		 	53	  
				
			4.6		Right to Inspect and Verify		 	54	  
				
			4.7		Control Agreements		 	54	  
				
			4.8		Servicing of Notes Receivable		 	54	  
				
			4.9		Release of Notes Receivable		 	55	  
			
	 5.
		REPRESENTATIONS AND WARRANTIES		 	55	  
				
			5.1		No Encumbrances		 	55	  
				
			5.2		Eligible Notes Receivables		 	55	  
				
			5.3		Equipment		 	56	  
				
			5.4		Location of Collateral		 	56	  
				
			5.5		Records		 	56	  
				
			5.6		State of Incorporation; Location of Chief Executive Office; Organizational Identification Number; Commercial Tort Claims		 	56	  
				
			5.7		Due Organization and Qualification; Subsidiaries		 	56	  
				
			5.8		Due Authorization; No Conflict		 	57	  
				
			5.9		Litigation		 	58	  
				
			5.10		No Material Adverse Change		 	58	  
				
			5.11		Fraudulent Transfer		 	58	  
				
			5.12		Employee Benefits		 	58	  
				
			5.13		Environmental Condition		 	58	  
				
			5.14		Brokerage Fees		 	59	  
				
			5.15		Intellectual Property		 	59	  
				
			5.16		Leases		 	59	  
				
			5.17		Deposit Accounts and Securities Accounts		 	59	  
				
			5.18		Complete Disclosure		 	59	  
				
			5.19		Indebtedness		 	60	  
				
			5.20		Compliance		 	60	  
				
			5.21		Servicing		 	60	  
				
			5.22		Permits, Licenses, Etc.		 	60	  
				
			5.23		Margin Stock		 	60	  
				
			5.24		Holding Company and Investment Company Acts		 	61	  

  
 -ii- 

 TABLE OF CONTENTS 

 

									
			
	 6.
		AFFIRMATIVE COVENANTS		 	61	  
				
			6.1		Accounting System		 	61	  
				
			6.2		Collateral Reporting		 	61	  
				
			6.3		Financial Statements, Reports, Certificates		 	62	  
				
			6.4		Notices Regarding Collections Servicing Staff		 	64	  
				
			6.5		Collection of Notes Receivable		 	64	  
				
			6.6		Maintenance of Properties		 	65	  
				
			6.7		Taxes		 	65	  
				
			6.8		Insurance		 	65	  
				
			6.9		Location of Collateral		 	66	  
				
			6.10		Compliance with Laws		 	66	  
				
			6.11		Leases		 	66	  
				
			6.12		Existence		 	66	  
				
			6.13		Environmental		 	67	  
				
			6.14		Disclosure Updates		 	67	  
				
			6.15		Formation of Subsidiaries		 	67	  
				
			6.16		Required Asset Documents		 	68	  
				
			6.17		Sale and Servicing Agreement		 	68	  
				
			6.18		Escrow Deposits		 	68	  
				
			6.19		Maintenance of Treasury Management Accounts at Wells Fargo		 	68	  
			
	 7.
		NEGATIVE COVENANTS		 	68	  
				
			7.1		Indebtedness		 	68	  
				
			7.2		Liens		 	69	  
				
			7.3		Restrictions on Fundamental Changes		 	69	  
				
			7.4		Disposal of Assets		 	69	  
				
			7.5		Change Name		 	70	  
				
			7.6		Nature of Business		 	70	  
				
			7.7		Prepayments and Amendments		 	70	  
				
			7.8		Change of Control		 	70	  
				
			7.9		Required Procedures		 	70	  
				
			7.10		Restricted Payments		 	70	  
				
			7.11		Accounting Methods		 	70	  

  
 -iii- 

 TABLE OF CONTENTS 

 

									
				
			7.12		Investments		 	71	  
				
			7.13		Transactions with Affiliates		 	71	  
				
			7.14		Use of Proceeds		 	71	  
				
			7.15		Collateral with Bailees		 	71	  
				
			7.16		Financial Covenants		 	71	  
				
			7.17		Certain Borrower and HTGC Portfolio Covenants		 	72	  
				
			7.18		Sale and Servicing Agreement		 	73	  
			
	 8.
		EVENTS OF DEFAULT		 	73	  
			
	 9.
		THE LENDER GROUP’S RIGHTS AND REMEDIES		 	76	  
				
			9.1		Rights and Remedies		 	76	  
				
			9.2		Remedies Cumulative		 	78	  
			
	 10.
		TAXES AND EXPENSES		 	79	  
			
	 11.
		WAIVERS; INDEMNIFICATION		 	79	  
				
			11.1		Demand; Protest; etc		 	79	  
				
			11.2		The Lender Group’s Liability for Borrower Collateral		 	79	  
				
			11.3		Indemnification		 	79	  
			
	 12.
		NOTICES		 	80	  
			
	 13.
		CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER		 	81	  
			
	 14.
		ASSIGNMENTS AND PARTICIPATIONS; SUCCESSORS		 	82	  
				
			14.1		Assignments and Participations		 	82	  
				
			14.2		Successors		 	84	  
			
	 15.
		AMENDMENTS; WAIVERS		 	85	  
				
			15.1		Amendments and Waivers		 	85	  
				
			15.2		Replacement of Holdout Lender		 	86	  
				
			15.3		No Waivers; Cumulative Remedies		 	86	  
			
	 16.
		AGENT; THE LENDER GROUP		 	87	  
				
			16.1		Appointment and Authorization of Agent		 	87	  
				
			16.2		Delegation of Duties		 	87	  
				
			16.3		Liability of Agent		 	88	  
				
			16.4		Reliance by Agent		 	88	  
				
			16.5		Notice of Default or Event of Default		 	88	  
				
			16.6		Credit Decision		 	89	  

  
 -iv- 

 TABLE OF CONTENTS 

 

									
				
			16.7		Costs and Expenses; Indemnification		 	89	  
				
			16.8		Agent in Individual Capacity		 	90	  
				
			16.9		Successor Agent		 	90	  
				
			16.10		Lender in Individual Capacity		 	91	  
				
			16.11		Withholding Taxes		 	91	  
				
			16.12		Collateral Matters		 	93	  
				
			16.13		Restrictions on Actions by Lenders; Sharing of Payments		 	94	  
				
			16.14		Agency for Perfection		 	95	  
				
			16.15		Payments by Agent to the Lenders		 	95	  
				
			16.16		Concerning the Collateral and Related Loan Documents		 	95	  
				
			16.17		Field Audits and Examination Reports; Confidentiality; Disclaimers by Lenders; Other Reports and Information		 	95	  
				
			16.18		Several Obligations; No Liability		 	96	  
				
			16.19		Bank Product Providers		 	97	  
			
	 17.
		GENERAL PROVISIONS		 	98	  
				
			17.1		Effectiveness		 	98	  
				
			17.2		Section Headings		 	98	  
				
			17.3		Interpretation		 	98	  
				
			17.4		Severability of Provisions		 	98	  
				
			17.5		Counterparts; Electronic Execution		 	98	  
				
			17.6		Revival and Reinstatement of Obligations		 	98	  
				
			17.7		Confidentiality		 	99	  
				
			17.8		Lender Group Expenses		 	99	  
				
			17.9		USA Patriot Act		 	99	  
				
			17.10		Integration		 	100	  

  
 -v- 

			
	 EXHIBITS AND SCHEDULES

		
	Exhibit A-1		Form of Assignment and Acceptance
		
	Exhibit B-1		Form of Borrowing Base Certificate
		
	Exhibit C-1		Form of Compliance Certificate
		
	Exhibit L-1		Form of LIBOR Notice
		
	Schedule C-1		Commitments
		
	Schedule P-1		Permitted Liens
		
	Schedule R-1		Required Asset Documents
		
	Schedule 2.6(a)		Cash Management Banks
		
	Schedule 5.4		Locations of Collateral
		
	Schedule 5.6(a)		Jurisdictions of Organization
		
	Schedule 5.6(b)		Chief Executive Offices
		
	Schedule 5.6(c)		Organizational ID Numbers
		
	Schedule 5.6(d)		Commercial Tort Claims
		
	Schedule 5.7(b)		Capitalization of Borrower and HTGC
		
	Schedule 5.7(c)		Capitalization of Borrower’s and HTGC’s Subsidiaries
		
	Schedule 5.9		Litigation
		
	Schedule 5.13		Environmental Matters
		
	Schedule 5.15		Intellectual Property
		
	Schedule 5.17		Deposit Accounts and Securities Accounts
		
	Schedule 5.19		Permitted Indebtedness
		
	Schedule 5.22		Licenses, Franchises, Consents and Approvals

  
 -vi- 

 AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 

THIS AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Agreement”), is entered into as of June 29, 2015,
between and among, on the one hand, the lenders identified on the signature pages hereof (such lenders, together with their respective successors and assigns, and such other lenders as may become a party hereto in accordance with the terms hereof,
are referred to hereinafter each individually as a “Lender” and collectively as the “Lenders”), WELLS FARGO CAPITAL FINANCE, LLC, a Delaware limited liability company formerly known as Wells Fargo Foothill,
LLC, as the arranger and administrative agent for the Lenders (in such capacity, together with its successors and assigns in such capacity, “Agent”), and, on the other hand, HERCULES FUNDING II LLC, a Delaware limited
liability company (“Borrower”). 
 RECITALS 

A. Borrower, Lenders as of the date hereof and Agent are parties to that certain Loan and Security Agreement dated as of August 25, 2008,
as amended by that certain First Amendment to Loan and Security Agreement dated as of April 30, 2009, that certain Second Amendment to Loan and Security Agreement dated as of June 20, 2011, that certain Third Amendment to Loan and Security
Agreement dated as of August 1, 2012, that certain Fourth Amendment to Loan and Security Agreement dated as of December 17, 2012, that certain Fifth Amendment to Loan and Security Agreement dated as of August 8, 2014, that certain
Sixth Amendment to Loan and Security Agreement dated as of February 6, 2015, and that certain Seventh Amendment to Loan and Security Agreement dated as of May 6, 2015 (as so amended, the “Original Loan Agreement”) and
certain other “Loan Documents” under and as defined therein (together with the Original Loan Agreement, as amended prior to the date hereof, collectively, the “Original Loan Documents”), pursuant to which Lenders and Agent
are providing financial accommodations to or for the benefit of Borrower upon the terms and conditions set forth therein. 
 B. Borrower has
requested that the Original Loan Agreement be amended and restated in order to modify certain provisions of the Original Loan Agreement, and Lenders and Agent are willing to do so in accordance with the terms and conditions set forth herein. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the terms and conditions set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Borrower, Lenders and Agent hereby agree, and the Original Loan
Agreement is hereby amended and restated in its entirety, as follows: 
  

	1.	DEFINITIONS AND CONSTRUCTION. 

 1.1 Definitions.     As
used in this Agreement, the following terms shall have the following definitions: 
 “Account” means an account (as that
term is defined in the Code). 

 “Account Debtor” means any Person who is obligated under, with respect to, or on
account of, an Account, chattel paper or a General Intangible, or is a debtor under, or a maker of, a Note Receivable. 

“Additional Documents” has the meaning set forth in Section 4.4(c). 

“Advances” has the meaning set forth in Section 2.1(a). 

“Affiliate” means, as applied to any Person, any other Person who, directly or indirectly through one or more intermediaries,
controls, is controlled by, or is under common control with, such Person. For purposes of this definition, “control” means the possession, directly or indirectly through one or more intermediaries, of the power to direct the management and
policies of a Person, whether through the ownership of Stock, by contract, or otherwise; provided, however, that, in any event: (a) any Person which owns directly or indirectly 10% or more of the Stock having ordinary voting power
for the election of directors or other members of the governing body of a Person or 10% or more of the partnership, membership or other ownership interests of a Person (other than as a limited partner of such Person) shall be deemed to control such
Person, (b) each director (or comparable manager) of a Person shall be deemed to be an Affiliate of such Person, and (c) each partnership or joint venture in which a Person is a partner or joint venturer shall be deemed to be an Affiliate
of such Person. 
 “Agent” means WFCF, solely in its capacity as agent for the Lenders hereunder, and any successor
thereto. 
 “Agent Advances” has the meaning set forth in Section 2.2(e)(i). 

“Agent-Related Persons” means Agent together with its Affiliates, officers, directors, employees, and agents. 

“Agent’s Account” means an account at a bank designated by Agent from time to time as the account into which Borrower
shall make all payments to Agent for the benefit of the Lender Group and into which the Lender Group shall make all payments to Agent under this Agreement and the other Loan Documents; unless and until Agent notifies Borrower and the Lender Group to
the contrary, Agent’s Account shall be that certain deposit account bearing account number 4121345110 and maintained by Agent with Wells Fargo Bank, N.A., San Francisco, CA, ABA No. 121000248. 

“Agent’s Liens” means the Liens granted by Borrower and its Subsidiaries to Agent for the benefit of the Lender Group
under this Agreement or the other Loan Documents. 
 “Agreement” has the meaning set forth in the preamble hereto. 

“Amortization Commencement Date” means the day immediately following the end of the Revolving Credit Availability Period.

 “Amortization Commencement Date Principal Balance” means the aggregate outstanding principal balance of Advances as of
the Amortization Commencement Date. 

  
 -2- 

 “Amortization Period” means the period commencing on the Amortization
Commencement Date and ending on the earlier of (a) payment in full of the Obligations, and (b) the Maturity Date. 

“Assignee” has the meaning set forth in Section 14.1(a). 

“Assignment and Acceptance” means an Assignment and Acceptance substantially in the form of Exhibit A-1. 

“Authorized Person” means any of Manuel Henriquez, Andrew Olson, Ben Bang, Robert Lake, Mark Harris, or any other individual
then serving as the Chief Executive Officer, Chief Financial Officer, Corporate Controller, Chief Credit Officer, or Chief Legal Officer of Borrower or HTGC, as applicable; provided, that for purposes of this Agreement, no individual who is
an Authorized Person shall cease to be an Authorized Person, and no individual who is not then an Authorized Person shall become an Authorized Person, unless and until Agent has received written notice of such change from Borrower or HTGC, as
applicable, and in the case of an individual becoming an Authorized Person such individual has been approved by Agent in its Permitted Discretion. 

“Availability” means, as of any date of determination, the amount that Borrower is entitled to borrow as Advances under
Section 2.1 (after giving effect to all then outstanding Obligations (other than Bank Product Obligations) and all sublimits and reserves then applicable hereunder). 

“Bank Product” means any one or more of the following financial products or accommodations extended to Borrower or its
Subsidiaries by a Bank Product Provider: (i) credit cards, (ii) credit card processing services, (iii) debit cards, (iv) stored value cards, (v) purchase cards (including so-called “procurement cards” or
“P-cards”), (vi) Cash Management Services, or (vii) transactions under Hedge Agreements. 
 “Bank Product
Agreements” means those agreements entered into from time to time by Borrower or its Subsidiaries with a Bank Product Provider in connection with the obtaining of any of the Bank Products. 

“Bank Product Collateralization” means providing cash collateral (pursuant to documentation reasonably satisfactory to Agent)
to be held by Agent for the benefit of the Bank Product Providers (other than the Hedge Providers) in an amount determined by Agent as sufficient to satisfy the reasonably estimated credit exposure with respect to the then existing Bank Product
Obligations (other than Hedge Obligations). 
 “Bank Product Obligations” means (a) all obligations, liabilities,
reimbursement obligations, fees, or expenses owing by Borrower or its Subsidiaries to any Bank Product Provider pursuant to or evidenced by a Bank Product Agreement and irrespective of whether for the payment of money, whether direct or indirect,
absolute or contingent, due or to become due, now existing or hereafter arising, (b) all Hedge Obligations, and (c) all amounts that Agent or any Lender is obligated to pay to a Bank Product Provider as a result of Agent or such Lender
purchasing participations from, or executing guarantees or indemnities or reimbursement obligations to, a Bank Product Provider with respect to the Bank Products provided by such Bank Product Provider to Borrower or its Subsidiaries. 

  
 -3- 

 “Bank Product Provider” means Wells Fargo or any of its Affiliates. 

“Bank Product Reserve Amount” means, as of any date of determination, the Dollar amount of reserves that Agent has determined
it is necessary or appropriate to establish (based upon the Bank Product Providers’ reasonable determination of their credit exposure to Borrower and its Subsidiaries in respect of Bank Product Obligations) in respect of Bank Products then
provided or outstanding; provided, however, that such amount shall at no time exceed (a) five percent (5%) of the Maximum Revolver Amount at such time, or (b) $15,000,000. 

“Bankruptcy Code” means title 11 of the United States Code, as in effect from time to time. 

“Base LIBOR Rate” means, for any Interest Period, the rate per annum appearing on Macro*World’s
(https://capitalmarkets.mworld.com; the “Service”) Page BBA LIBOR - USD (or on any successor or substitute page of such Service, or any successor to or substitute for such Service) two Business Days prior to the commencement of such
Interest Period, for a term of three months and in the amount of $1,000,000 (and, if any such rate is below zero, the LIBOR Rate shall be deemed to be zero), which determination shall be made by Lender and shall be conclusive in the absence of
manifest error. 
 “Base Rate” means the greatest of (a) the Federal Funds Rate plus one-half of one percent
(0.50%), (b) the LIBOR Rate plus one percent (1.00%), and (c) the rate of interest announced, from time to time, within Wells Fargo at its principal office in San Francisco as its “prime rate”, with the understanding that
the “prime rate” is one of Wells Fargo’s base rates (not necessarily the lowest of such rates) and serves as the basis upon which effective rates of interest are calculated for those loans making reference thereto and is evidenced by
the recording thereof after its announcement in such internal publications as Wells Fargo may designate. 
 “Base Rate
Loan” means each portion of an Advance that bears interest at a rate determined by reference to the Base Rate. 
 “Base
Rate Margin” means two percent (2.00%). 
 “Benefit Plan” means a “defined benefit plan” (as defined in
Section 3(35) of ERISA) for which Borrower or any Subsidiary or ERISA Affiliate of Borrower has been an “employer” (as defined in Section 3(5) of ERISA) within the past six years. 

“Board of Directors” means the board of directors (or comparable managers or managing members) of a Person or any committee
thereof duly authorized to act on behalf of the board of directors (or comparable managers or managing members). 
 “Books”
means all of Borrower’s and its Subsidiaries’ now owned or hereafter acquired books and records (including all of their Records indicating, summarizing, or evidencing their assets (including the Collateral) or liabilities, all of
Borrower’s and its Subsidiaries’ Records relating to their business operations or financial condition, and all of their goods or General Intangibles related to such information). 

  
 -4- 

 “Borrower” has the meaning set forth in the preamble to this Agreement. 

“Borrower Collateral” means all of Borrower’s now owned or hereafter acquired right, title, and interest in and to all
property, including, without limitation, each of the following: 
 (a) all of its Accounts, 

(b) all of its Books, 
 (c) all
of its commercial tort claims, 
 (d) all of its Deposit Accounts, 

(e) all of its Equipment, 
 (f)
all of its General Intangibles, 
 (g) all of its Inventory, 

(h) all of its Investment Property (including all of its securities and Securities Accounts), 

(i) all of its Negotiable Collateral, including all of its Notes Receivable, 

(j) all of its Supporting Obligations, 

(k) money or other assets of Borrower that now or hereafter come into the possession, custody, or control of Agent or any Lender, and 

(l) the proceeds and products, whether tangible or intangible, of any of the foregoing, including proceeds of insurance covering any or all of
the foregoing, and any and all Accounts, Books, Deposit Accounts, Equipment, General Intangibles, Inventory, Investment Property, Negotiable Collateral, Real Property, Supporting Obligations, money, or other tangible or intangible property resulting
from the sale, exchange, collection, or other disposition of any of the foregoing, or any portion thereof or interest therein, and the proceeds thereof. 

“Borrower’s Required Procedures” means the “Credit and Collection Policy” as defined in the Sale and Servicing
Agreement, specifically including underwriting, valuation, auditing and documentation guidelines, standard documentation, and portfolio management policies and procedures, in the form delivered to Agent and approved by Agent on or prior to the
Original Closing Date, as amended from time to time in accordance with the Sale and Servicing Agreement. 
 “Borrowing”
means a borrowing hereunder consisting of Advances made on the same day by the Lenders (or Agent on behalf thereof), or by Swing Lender in the case of a Swing Loan, or by Agent in the case of an Agent Advance. 

  
 -5- 

 “Borrowing Base” means, as of any date of determination, the sum of: 

(a) fifty percent (50%) of the Net Eligible Balance, minus 

(b) the sum of (i) the Bank Product Reserve Amount, and (ii) the aggregate amount of reserves, if any, established by Lender under
Section 2.1(b). 
 “Borrowing Base Certificate” means a certificate in the form of Exhibit B-1. 

“Business Day” means any day that is not a Saturday, Sunday, or other day on which banks are authorized or required to close
in the State of New York, the State of California, the State of Texas, or the State of Minnesota, except that if a determination of a Business Day shall relate to a LIBOR Rate Loan, the term “Business Day” also shall exclude any day on
which banks are closed for dealings in Dollar deposits in the London interbank market. 
 “Capital Lease” means a lease
that is required to be capitalized for financial reporting purposes in accordance with GAAP. 
 “Capitalized Lease
Obligation” means that portion of the obligations under a Capital Lease that is required to be capitalized in accordance with GAAP. 

“Cash Equivalents” means (a) marketable direct obligations issued or unconditionally guaranteed by the United States or
issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within 1 year from the date of acquisition thereof, (b) marketable direct obligations issued by any state of the United States or
any political subdivision of any such state or any public instrumentality thereof maturing within 1 year from the date of acquisition thereof and, at the time of acquisition, having one of the two highest ratings obtainable from either
Standard & Poor’s Rating Group (“S&P”) or Moody’s Investors Service, Inc. (“Moody’s”), (c) commercial paper maturing no more than 270 days from the date of creation thereof and, at
the time of acquisition, having a rating of at least A-1 from S&P or at least P-1 from Moody’s, (d) certificates of deposit or bankers’ acceptances maturing within 1 year from the date of acquisition thereof issued by any bank
organized under the laws of the United States or any state thereof having at the date of acquisition thereof combined capital and surplus of not less than $250,000,000, (e) demand Deposit Accounts maintained with any bank organized under the
laws of the United States or any state thereof so long as the amount maintained with any individual bank is less than or equal to $250,000 and is insured by the Federal Deposit Insurance Corporation, and (f) Investments in money market funds or
mutual funds substantially all of whose assets are invested in the types of assets described in clauses (a) through (e) above. 

“Cash Management Account” has the meaning set forth in Section 2.6(a). 

“Cash Management Agreements” means those certain cash management service agreements, in form and substance satisfactory to
Agent, each of which is among Borrower or one of its Subsidiaries, Agent, and one of the Cash Management Banks. 
 “Cash Management
Bank” has the meaning set forth in Section 2.6(a). 

  
 -6- 

 “Cash Management Services” means any cash management or related services,
including treasury, depository, return items, overdraft, controlled disbursement, merchant store value cards, e-payables services, electronic funds transfer, interstate depository network, automatic clearing house transfer (including the Automated
Clearing House processing of electronic funds transfers through the direct Federal Reserve Fedline system) and other cash management arrangements. 

“Change in Law” means the occurrence after the Closing Date of: (a) the adoption or effectiveness of any law, rule,
regulation, judicial ruling, judgment or treaty, (b) any change in any law, rule, regulation, judicial ruling, judgment or treaty or in the administration, interpretation, implementation or application by any Governmental Authority of any law,
rule, regulation, guideline or treaty, or (c) the making or issuance by any Governmental Authority of any request, rule, guideline or directive, whether or not having the force of law; provided that notwithstanding anything in this
Agreement to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (ii) all requests, rules, guidelines or
directives concerning capital adequacy promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities shall, in each
case, be deemed to be a “Change in Law,” regardless of the date enacted, adopted or issued. 
 “Change of
Control” means any of the following: (a) HTGC ceases to directly own and control 100% of the outstanding capital Stock of Borrower; (b) Borrower ceases to directly own and control 100% of the outstanding capital Stock of each of
its Subsidiaries; (c) HTGC or parties designated or appointed by HTGC cease to be the only Manager(s) of Borrower; (d) any Person or two or more Persons acting in concert shall have acquired beneficial ownership (within the meaning of Rule
13d-3 promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934) of twenty percent (20%) or more of the issued and outstanding shares of capital Stock of HTGC having the right to vote for the election of
directors of HTGC under ordinary circumstances; or (e) during any period of twelve consecutive calendar months, individuals who at the beginning of such period constituted the board of directors of HTGC (together with any new directors whose
election to the board of directors of HTGC or whose nomination for election by the Stockholders of HTGC was approved by a vote of at least a majority of the directors then still in office who either were directors at the beginning of such period or
whose election or nomination for election was previously so approved) cease for any reason other than death or disability to constitute a majority of the directors then in office. 

“Closing Certificates” means certificates from an Authorized Person of Borrower and an Authorized Person of HTGC, in each
case (i) attesting to the resolutions of such Person’s Board of Directors authorizing its execution, delivery, and performance of this Agreement and the other Loan Documents to which such Person is a party, (ii) authorizing specific
officers of such Person to execute the same, (iii) attesting to the incumbency and signatures of such specific officers of such Person, and (iv) addressing such other factual matters in connection with the Agreement and the other Loan
Documents as may reasonably be required by Agent. 
 “Closing Date” means the date of this Agreement. 

  
 -7- 

 “Code” means the New York Uniform Commercial Code, as in effect from time to
time; provided, however, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection, priority, or remedies with respect to Agent’s Lien on any Collateral is governed by the Uniform
Commercial Code as enacted and in effect in a jurisdiction other than the State of New York, the term “Code” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely for purposes of the provisions
thereof relating to such attachment, perfection, priority, or remedies. 
 “Collateral” means the Borrower Collateral and
all other assets and interests in assets and proceeds thereof now owned or hereafter acquired by Borrower or its Subsidiaries in or upon which a Lien is granted under any of the Loan Documents. 

“Collateral Access Agreement” means a landlord waiver, bailee letter, or acknowledgement agreement of any lessor,
warehouseman, processor, consignee, or other Person in possession of, having a Lien upon, or having rights or interests in any Collateral, in each case, in form and substance satisfactory to Agent. 

“Collateral Custodian” means a Person acceptable to both Borrower and Agent that is appointed pursuant to a Collateral
Custodian Agreement acceptable to such Person, Borrower and Agent to hold the original Notes Receivable and certain other documents to be delivered under this Agreement or the Sale and Servicing Agreement for Agent’s benefit. As of the Closing
Date, there is no Collateral Custodian, and the original Notes Receivable and certain other documents required to be delivered under this Agreement or the Sale and Servicing Agreement will be delivered directly to and held by Agent. 

“Collateral Custodian Agreement” means a written agreement pursuant to which Borrower and Agent appoint a Collateral
Custodian with respect to this Agreement and the Sale and Servicing Agreement and specify the duties and compensation of such Collateral Custodian. 

“Collateral Custodian Fees” means any fees payable to a Collateral Custodian in accordance with its Collateral Custodian
Agreement. 
 “Collections” means all cash, checks, notes, instruments, and other items of payment (including insurance
proceeds, proceeds of cash sales, rental proceeds, and tax refunds) of Borrower. 
 “Commercial Tort Claim Assignment” has
the meaning set forth in Section 4.4(b). 
 “Commitment” means, with respect to each Lender, the aggregate
commitment of such Lender to make Advances and, with respect to all Lenders, the aggregate commitments of all Lenders to make Advances, in each case as such Dollar amounts are set forth beside such Lender’s name under the applicable heading on
Schedule C-1 (as amended from time to time in accordance with the terms hereof) or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of
Section 14.1. 
 “Compliance Certificate” means a certificate substantially in the form of Exhibit C-1
delivered by the chief financial officer of Borrower to Agent. 

  
 -8- 

 “Control Agreement” means a control agreement, in form and substance
satisfactory to Agent, executed and delivered by Borrower or one of its Subsidiaries, Agent, and the applicable securities intermediary (with respect to a Securities Account) or bank (with respect to a Deposit Account). 

“Daily Balance” means, with respect to each day during the term of this Agreement, the aggregate outstanding amount of all
Advances or Obligations, as the context requires, at the end of such day. 
 “Debt to Worth Ratio” means, with respect to
any Person as of any date of determination, a ratio of (a) the sum of (i) the outstanding amount of all Indebtedness of such Person as of such date, minus (ii) the outstanding amount of the Subordinated Debt of such Person as
of such date, to (b) the sum of (i) Tangible Net Worth of such Person as of such date, plus (ii) the outstanding amount of the Subordinated Debt of such Person as of such date. 

“Default” means an event or condition that, but for the giving of notice or the passage of time, or both, would constitute an
Event of Default. 
 “Defaulted Note Receivable” means any Note Receivable with respect to which (a) any payment
thereunder remains outstanding and unpaid, in whole or in part, for more than ninety (90) days past the date it became due and payable according to the original face and tenor of such Note Receivable or as extended in accordance with
Borrower’s Required Procedures, (b) with respect to which foreclosure proceedings have been initiated against any property securing such Note Receivable, or (c) that Borrower or Agent in its Permitted Discretion deems to be
non-collectible. 
 “Defaulting Lender” means any Lender that (a) has failed to fund any amounts required to be funded
by it under this Agreement within one (1) Business Day of the date that it is required to do so under this Agreement unless such Lender notifies Agent and Borrower in writing that such failure to fund any Advance is the result of such
Lender’s good faith determination that one or more conditions precedent to such funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied,
(b) notified the Borrower, Agent, or any Lender in writing that it does not intend to comply with all or any portion of its funding obligations under this Agreement (unless such writing relates to such Lender’s obligation to fund an
Advance hereunder and states that such position is based on such Lender’s good faith determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such
writing or public statement) cannot be satisfied), (c) has made a public statement to the effect that it does not intend to comply with its funding obligations under this Agreement or under other agreements generally (as reasonably determined
by Agent) under which it has committed to extend credit (unless such public statement relates to such Lender’s obligation to fund an Advance hereunder and states that such position is based on such Lender’s good faith determination that a
condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (d) failed, within three (3) Business Days after
written request by Agent, to confirm that it will comply with the terms of this Agreement relating to its obligations to fund any amounts required to be funded by it under this Agreement, (e) otherwise failed to pay

  
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over to Agent or any other Lender any other amount required to be paid by it under this Agreement within one (1) Business Day of the date that it is required to do so under this Agreement,
or (f) (i) becomes or is insolvent or has a parent company that has become or is insolvent or (ii) becomes the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, or custodian or appointed
for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment or has a parent company that has become the subject of a bankruptcy or insolvency proceeding, or has
had a receiver, conservator, trustee, or custodian appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment; provided that a Lender shall not
be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or
provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow
or disaffirm any contracts or agreements made with such Lender. 
 “Defaulting Lender Rate” means (a) for the first
three (3) days from and after the date the relevant payment is due, the Base Rate, and (b) thereafter, the interest rate then applicable to Advances that are Base Rate Loans (inclusive of the Base Rate Margin applicable thereto). 

“Delinquent Note Receivable” means any Note Receivable with respect to which any payment thereunder remains outstanding and
unpaid, in whole or in part, for more than sixty (60) days past the date it became due and payable according to the original face and tenor of such Note Receivable or as extended in accordance with Borrower’s Required Procedures. 

“Deposit Account” means any deposit account (as that term is defined in the Code). 

“Designated Account” means account number 4121766364 of Borrower maintained with Borrower’s Designated Account Bank, or
such other deposit account of Borrower (located within the United States) that has been designated as such, in writing, by Borrower to Agent. 

“Designated Account Bank” means Wells Fargo. 

“Disbursement Letter” means an instructional letter executed and delivered by Borrower to Agent regarding the extensions of
credit to be made on the Closing Date, the form and substance of which is satisfactory to Agent. 
 “Dollars” or
“$” means United States dollars. 
 “EBITDA” means, with respect to any Person for any fiscal period, such
Person’s consolidated net earnings (or loss), minus to the extent included in determining net earnings, extraordinary gains, minus to the extent included in determining net earnings, interest income, plus interest expense,
plus income taxes, plus depreciation and amortization, in each case as determined for such period and in each case not otherwise defined herein as determined in accordance with GAAP. 

  
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 “Eligible Notes Receivable” means those Notes Receivable that comply with each
of the representations and warranties respecting Eligible Notes Receivable made in the Loan Documents, and that are not excluded as ineligible by virtue of one or more of the excluding criteria set forth below; provided, however, that
such criteria may be modified from time to time by Agent in Agent’s Permitted Discretion; provided further, that so long as no Default or Event of Default has occurred and is continuing, Agent shall first notify and attempt to discuss
with Borrower any such modification that Agent proposes to make to such criteria unless Agent, in its Permitted Discretion, believes that exigent circumstances justify the immediate modification of such criteria. Eligible Notes Receivable shall
not include a Note Receivable (unless specifically determined to be an Eligible Note Receivable by Agent following a review thereof on a case-by-case basis) if: 

(a) such Note Receivable does not evidence a commercial loan made to an Account Debtor in which venture capital firms, private equity groups
or other institutional investors have an aggregate equity ownership of at least fifteen percent (15%) on a fully-diluted basis; 
 (b)
such Note Receivable does not represent a valid and binding obligation enforceable in accordance with its terms for the amount outstanding thereof without defense (whether actual or alleged); 

(c) such Note Receivable (i) is not approved, documented, managed and otherwise in conformance with Borrower’s Required Procedures
in effect upon Borrower’s acquisition thereof, or (ii) is not evidenced by HTGC’s standard loan documents for loans to be sold to Borrower and financed under this Agreement, or other documentation acceptable to Agent; 

(d) such Note Receivable is owed by an Account Debtor that is rated Investment Grade 4 or Investment Grade 5 in accordance with
Borrower’s Required Procedures then in effect; 
 (e) such Note Receivable is owed by an Account Debtor that, based upon
Borrower’s most-recent quarterly credit analysis and taking into account such Account Debtor’s anticipated positive or negative cash flow, does not have either (i) sufficient unrestricted cash on hand or committed availability under
revolving lines of credit to allow such Account Debtor to service at least two (2) months of operations under such Note Receivable or (ii) a signed commitment letter from a “qualified investor” to make an additional equity
investment in such Account Debtor in an amount sufficient to allow such Account Debtor to service at least six (6) months of operations under such Note Receivable (for purposes of this clause (e), “qualified investor” shall
mean a venture capital firm on Borrower’s approved list, a private equity group, a strategic acquirer or other institutional investor acceptable to Agent in its Permitted Discretion; 

(f) Borrower’s Liens to secure payment of such Note Receivable are not first priority Liens on substantially all property of the Account
Debtor, except for such permitted Liens or exclusions as are consistent with Borrower’s Required Procedures; provided, that such Note Receivable shall not be ineligible solely by reason of this clause (f) by reason of the existence
of a prior Lien secured solely by the Accounts (and proceeds thereof) owned by such 

  
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Account Debtor to secure a revolving line of credit provided to the Account Debtor by a Person other than Borrower so long as the maximum committed principal amount of such revolving line of
credit does not exceed fifty percent (50%) of the maximum committed principal amount of Borrower’s loan to such Account Debtor; 

(g) such Note Receivable has a remaining term of more than sixty (60) months; 

(h) such Note Receivable has a remaining term of more than forty-two (42) months, unless the Account Debtor maintains a trailing
twelve-month EBITDA in excess of $2,000,000; 
 (i) the Account Debtor with respect to such Note Receivable is subject to an Insolvency
Proceeding, is not Solvent, has gone out of business, or as to which Borrower has received notice of an imminent Insolvency Proceeding or a material impairment of the financial condition of such maker; 

(j) the documentation associated with such Note Receivable does not require the Account Debtor to provide ongoing financial information to
Borrower, including financial statements on not less than a quarterly basis, annual audited financial statements prepared by an independent third-party auditor, annual budgets and ongoing loan monitoring and covenant compliance certificates
consistent with Borrower’s Required Procedures; 
 (k) such Note Receivable was originated by a lender other than HTGC or a bank,
commercial finance company or other institutional lender approved by Agent in its Permitted Discretion; 
 (l) such Note Receivable has not
been originated in accordance with, or does not comply in all respects with, all applicable federal, state and local laws and regulations, including applicable usury and credit disclosure laws and regulations; 

(m) such Note Receivable does not require current payments of the full amount of cash interest accruing on the full unpaid principal amount
thereof on at least a quarterly basis; provided, that notwithstanding this clause (m), Notes Receivable that provide for payment-in-kind or accrual of a portion of such interest may be eligible so long as at least seventy-five percent
(75%) of the total interest then due on such Note Receivable is interest that is required to be paid in cash; 
 (n) such Note
Receivable (i) is a Delinquent Note Receivable or a Defaulted Note Receivable, or (ii) unless waived by Agent on a case by case basis in its sole discretion, has been at any time a Delinquent Note Receivable or a Defaulted Note Receivable;

 (o) the Account Debtor with respect to such Note Receivable is in the nuclear waste, natural resource, utility, or fishing vessel
industry; 
 (p) the proceeds of such Note Receivable were or are to be used for personal, family or household purposes; 

  
 -12- 

 (q) Borrower’s interest in such Note Receivable represents (i) its interest as one of
the lenders in a multi-lender syndicate or other co-lending arrangement, unless such arrangement has been reviewed and approved by Agent on a case by case basis in its sole discretion, or (ii) is only a participating interest; 

(r) the Account Debtor with respect to such Note Receivable is an Affiliate of Borrower or a shareholder or employee or agent of Borrower or a
member, employee or agent of any Affiliate of Borrower, or a member of the family of any of the foregoing: 
 (s) such Note Receivable that
is not payable in Dollars; 
 (t) the Account Debtor with respect to such Note Receivable (i) does not maintain its chief executive
office or principal residence in the United States, or (ii) is not organized under the laws of the United States or any state thereof, or (iii) is the government of any foreign country or sovereign state, or of any state, province,
municipality, or other political subdivision thereof, or of any department, agency, public corporation, or other instrumentality thereof; 

(u) the Account Debtor with respect to such Note Receivable is either (i) the United States or any department, agency, or instrumentality
of the United States, or (ii) any state of the United States; 
 (v) the Account Debtor with respect to such Note Receivable is also a
creditor of Borrower, or has made a refundable deposit (not held in a separate escrow account), or has or has asserted a right of setoff, or has disputed its obligation to pay all or any portion of the Note Receivable, to the extent of such deposit,
claim, right of setoff, or dispute; 
 (w) the Agent or the Collateral Custodian (if one has been appointed) is not then in possession of
each of the Required Asset Documents; 
 (x) Agent has not received a copy of HTGC’s investment memorandum with respect to the loan
evidenced by such Note Receivable; 
 (y) such Note Receivable is not subject to a valid and perfected first-priority Lien of Agent; or 

(z) such Note Receivable has been modified or has had its maturity extended in a manner that is not in compliance with Borrower’s
Required Procedures; 
 (aa) such Note Receivable Balance has an outstanding principal amount that exceeds $15,000,000; provided,
that such dollar limitation may be raised or waived by Agent on a case by case basis in its sole discretion, and only the amount in excess of such $15,000,000 or any higher limit agreed to by Agent shall be deemed ineligible solely by reason of this
clause (aa). 
 Notwithstanding the foregoing, Agent will have the right to underwrite any Note Receivable with an original
principal balance in excess of $15,000,000 to determine, in Agent’s sole discretion, whether such Note Receivable shall be an Eligible Note Receivable. 

  
 -13- 

 Concentration Limits 

On each date of determination of the Borrowing Base, after determining a preliminary aggregate outstanding balance of Eligible Notes Receivable
by applying the foregoing exclusions and aggregating the outstanding balance of the eligible portions thereof (the eligible portion of any Note Receivable after applying the foregoing exclusions shall be referred to as a “Preliminary
Eligible Note Receivable,” and such aggregate outstanding balance shall be referred to as the “Preliminary Eligible Notes Receivable Balance”), each of the below listed clauses (1) through (7) shall
be applied, using the Preliminary Eligible Notes Receivable Balance to determine additional ineligible portions, if any, without duplication, and thus determine the Net Eligible Balance. Eligible Notes Receivable shall not include the following
(except to the extent that any Note Receivable is specifically determined, on a case-by-case basis, to be an Eligible Note Receivable by Agent in its sole discretion): 

(1) The portion of the Preliminary Eligible Notes Receivable Balance consisting of the aggregate outstanding principal amount of all Eligible
Notes Receivable that have had their maturity extended or otherwise been modified in accordance with Borrower’s Required Procedures, that exceeds ten percent (10%) of the Preliminary Eligible Notes Receivable Balance at such time; 

(2) The portion of the Preliminary Eligible Notes Receivable Balance consisting of the aggregate outstanding principal amount of all Eligible
Notes Receivable owed by Account Debtors who have received equity investments from the same venture capital firm as the lead investor, that exceeds twenty-five percent (25%) of the Preliminary Eligible Notes Receivable Balance at such time;

 (3) The portion of the Preliminary Eligible Notes Receivable Balance consisting of (i) the aggregate outstanding principal amount of
all Eligible Notes Receivable that are Technology Industry Notes Receivable that exceeds sixty percent (60%) of the Preliminary Eligible Notes Receivable Balance at such time, (ii) the aggregate outstanding principal amount of all Eligible
Notes Receivable that are Life Sciences Industry Notes Receivable that exceeds sixty percent (60%) of the Preliminary Eligible Notes Receivable Balance at such time, (iii) the aggregate outstanding principal amount of all Eligible Notes
Receivable that are Healthcare Industry Notes Receivable that exceeds sixty percent (60%) of the Preliminary Eligible Notes Receivable Balance at such time, or (iv) the aggregate outstanding principal amount of all Eligible Notes
Receivable Notes Receivable owed by Account Debtors whose business activities fall within any other single industry, as defined by the Standard Industrial Classification/NAIC classification (six-digit NAIC codes) then in effect, that exceeds
thirty-five percent (35%) of the Preliminary Eligible Notes Receivable Balance at such time; 
 (4) The portion of the Preliminary
Eligible Notes Receivable Balance consisting of the aggregate outstanding principal amount of all Eligible Notes Receivable owed by Account Debtors that are rated Investment Grade 3 in accordance with Borrower’s Required Procedures then in
effect, that exceeds thirty percent (30%) of the Preliminary Eligible Notes Receivable Balance at such time; 

  
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 (5) The portion of the Preliminary Eligible Notes Receivable Balance consisting of the aggregate
outstanding principal amount of all Eligible Notes Receivable with respect to which a revolving line of credit described in clause (f) exists, that exceeds ten percent (10%) of the Preliminary Eligible Notes Receivable Balance at
such time; 
 (6) The portion of the Preliminary Eligible Notes Receivable Balance consisting of the aggregate outstanding principal amount
of all Eligible Notes Receivable that have a remaining term of more than forty-two (42) months, that exceeds twenty-five (25%)of the Preliminary Eligible Notes Receivable Balance at such time; provided, that and such concentration limit
may be waived by Agent on a case by case basis in its sole discretion; 
 (7) The portion of the Preliminary Eligible Notes Receivable
Balance consisting of the aggregate outstanding principal amount of all Eligible Notes Receivable that were originated by a lender other than HTGC, that exceeds twenty percent (20%) of the Preliminary Eligible Notes Receivable Balance at such
time; 
 Notwithstanding the foregoing, the concentration limitations in the foregoing clauses (1) through
(7) relative to the aggregate outstanding principal amount of the Preliminary Eligible Notes Receivable Balance at such time, shall not apply during the Amortization Period. 

“Eligible Transferee” means (a) a commercial bank organized under the laws of the United States, or any state thereof,
and having total assets in excess of $250,000,000, (b) a commercial bank organized under the laws of any other country which is a member of the Organization for Economic Cooperation and Development or a political subdivision of any such country
and which has total assets in excess of $250,000,000, provided that such bank is acting through a branch or agency located in the United States, (c) a finance company, insurance company, or other financial institution or fund that is engaged in
making, purchasing, or otherwise investing in commercial loans in the ordinary course of its business and having (together with its Affiliates) total assets in excess of $250,000,000, (d) any Affiliate (other than individuals) of a Lender that
was party hereto as of the Closing Date, (e) so long as no Event of Default has occurred and is continuing, any other Person approved by Agent, Swing Lender, and Borrower, (which approval of Borrower shall not be unreasonably withheld, delayed,
or conditioned), and (f) during the continuation of an Event of Default, any other Person approved by Agent. 
 “Environmental
Actions” means any complaint, summons, citation, notice, directive, order, claim, litigation, investigation, judicial or administrative proceeding, judgment, letter, or other communication from any Governmental Authority, or any third party
involving violations of Environmental Laws or releases of Hazardous Materials from (a) any assets, properties, or businesses of Borrower, its Subsidiaries, or any of their predecessors in interest, (b) from adjoining properties or
businesses, or (c) from or onto any facilities which received Hazardous Materials generated by Borrower, its Subsidiaries, or any of their predecessors in interest. 

“Environmental Law” means any applicable federal, state, provincial, foreign or local statute, law, rule, regulation,
ordinance, code, binding and enforceable guideline, binding and enforceable written policy, or rule of common law now or hereafter in effect and in each case as amended, or any judicial or administrative interpretation thereof, including any
judicial or 

  
 -15- 

 
administrative order, consent decree or judgment, in each case, to the extent binding on Borrower or its Subsidiaries, relating to the environment, the effect of the environment on employee
health or safety, or Hazardous Materials, including the Comprehensive Environmental Response Compensation and Liability Act, 42 U.S.C. § 9601 et seq.; the Resource Conservation and Recovery Act, 42 U.S.C. § 6901 et seq.; the
Federal Water Pollution Control Act, 33 U.S.C. § 1251 et seq.; the Toxic Substances Control Act, 15 U.S.C. § 2601 et seq.; the Clean Air Act, 42 U.S.C. § 7401 et seq.; the Safe Drinking Water Act, 42 U.S.C. §
3803 et seq.; the Oil Pollution Act of 1990, 33 U.S.C. § 2701 et seq.; the Emergency Planning and the Community Right-to-Know Act of 1986, 42 U.S.C. § 11001 et seq.; the Hazardous Material Transportation Act, 49 U.S.C.
§ 1801 et seq.; and the Occupational Safety and Health Act, 29 U.S.C. §651 et seq. (to the extent it regulates occupational exposure to Hazardous Materials); any state and local or foreign counterparts or equivalents, in each
case as amended from time to time. 
 “Environmental Liabilities and Costs” means all liabilities, monetary obligations,
losses, damages, punitive damages, consequential damages, treble damages, costs and expenses (including all reasonable fees, disbursements and expenses of counsel, experts, or consultants, and costs of investigation and feasibility studies), fines,
penalties, sanctions, and interest incurred as a result of any claim or demand, or Remedial Actions required, by any Governmental Authority or any third party, and which relate to any Environmental Action. 

“Environmental Lien” means any Lien in favor of any Governmental Authority for Environmental Liabilities and Costs. 

“Equipment” means all equipment (as that term is defined in the Code), including machinery, machine tools, motors, furniture,
furnishings, fixtures, vehicles (including motor vehicles), computer hardware, tools, parts and goods (other than consumer goods, farm products, or Inventory), wherever located, including all attachments, accessories, accessions, replacements,
substitutions, additions, and improvements to any of the foregoing. 
 “ERISA” means the Employee Retirement Income
Security Act of 1974, as amended, and any successor statute thereto. 
 “ERISA Affiliate” means (a) any Person subject
to ERISA whose employees are treated as employed by the same employer as the employees of Borrower or its Subsidiaries under IRC Section 414(b), (b) any trade or business subject to ERISA whose employees are treated as employed by the same
employer as the employees of Borrower or its Subsidiaries under IRC Section 414(c), (c) solely for purposes of Section 302 of ERISA and Section 412 of the IRC, any organization subject to ERISA that is a member of an
affiliated service group of which Borrower or any of its Subsidiaries are a member under IRC Section 414(m), or (d) solely for purposes of Section 302 of ERISA and Section 412 of the IRC, any Person subject to ERISA that is a
party to an arrangement with Borrower or any of its Subsidiaries and whose employees are aggregated with the employees of Borrower or its Subsidiaries under IRC Section 414(o). 

“Event of Default” has the meaning set forth in Section 8. 

“Exchange Act” means the Securities Exchange Act of 1934, as in effect from time to time. 

  
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 “Fee Letter” means that certain Third Amended and Restated Fee Letter, dated as
of August 8, 2014, between Borrower and Agent, in form and substance satisfactory to Agent. 
 “FEIN” means Federal
Employer Identification Number. 
 “Funding Date” means the date on or after the Closing Date on which a Borrowing occurs.

 “GAAP” means generally accepted accounting principles as in effect from time to time in the United States, consistently
applied. 
 “General Intangibles” means all general intangibles (as that term is defined in the Code), including payment
intangibles, contract rights, rights to payment, rights arising under common law, statutes, or regulations, choses or things in action, goodwill, patents, trade names, trade secrets, trademarks, servicemarks, copyrights, blueprints, drawings,
purchase orders, customer lists, monies due or recoverable from pension funds, route lists, rights to payment and other rights under any royalty or licensing agreements, infringement claims, computer programs, information contained on computer disks
or tapes, software, literature, reports, catalogs, insurance premium rebates, tax refunds, and tax refund claims, and any other personal property other than Accounts, commercial tort claims, Deposit Accounts, goods, Investment Property, and
Negotiable Collateral. 
 “Governing Documents” means, with respect to any Person, the certificate or articles of
incorporation, formation or organization, bylaws, partnership agreement, operating or limited liability company agreement, or other organizational documents of such Person. 

“Governmental Authority” means any federal, state, local, or other governmental or administrative body, instrumentality,
board, department, or agency or any court, tribunal, administrative hearing body, arbitration panel, commission, or other similar dispute-resolving panel or body. 

“Guarantor” means any Person that executes a Guaranty with respect to the Obligations. 

“Guaranty” means any guaranty executed and delivered by a Guarantor in favor of Agent, for the benefit of the Lender Group
and the Bank Product Providers, in form and substance satisfactory to Agent. 
 “Hazardous Materials” means
(a) substances that are defined or listed in, or otherwise classified pursuant to, any applicable laws or regulations as “hazardous substances,” “hazardous materials,” “hazardous wastes,” “toxic
substances,” or any other formulation intended to define, list, or classify substances by reason of deleterious properties such as ignitability, corrosivity, reactivity, carcinogenicity, reproductive toxicity, or “EP toxicity”,
(b) oil, petroleum, or petroleum derived substances, natural gas, natural gas liquids, synthetic gas, drilling fluids, produced waters, and other wastes associated with the exploration, development, or production of crude oil, natural gas, or
geothermal resources, (c) any flammable substances or explosives or any radioactive materials, and (d) asbestos in any form or electrical equipment that contains any oil or dielectric fluid containing levels of polychlorinated biphenyls in
excess of 50 parts per million. 

  
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 “Healthcare Industry Note Receivable” means a Note Receivable due from an
Account Debtor that is a company that procures, provides and/or distributes medical equipment, medical supplies, and health care services to providers such as hospitals, home health care providers, and nursing homes or directly to consumers. 

“Hedge Agreement” means a “swap agreement” as that term is defined in Section 101(53B)(A) of the Bankruptcy
Code. 
 “Hedge Obligations” means any and all obligations or liabilities, whether absolute or contingent, due or to become
due, now existing or hereafter arising, of Borrower or its Subsidiaries arising under, owing pursuant to, or existing in respect of Hedge Agreements entered into with one or more of the Hedge Providers. 

“Hedge Provider” means Wells Fargo or any of its Affiliates. 

“Holdout Lender” has the meaning set forth in Section 15.2(a). 

“HTGC” means Hercules Technology Growth Capital, Inc., a Maryland corporation. 

“Indebtedness” means (a) all obligations for borrowed money, (b) all obligations evidenced by bonds, debentures,
notes, or other similar instruments and all reimbursement or other obligations in respect of letters of credit, bankers acceptances, interest rate swaps, or other financial products, (c) all obligations as a lessee under Capital Leases,
(d) all obligations or liabilities of others secured by a Lien on any asset of a Person or its Subsidiaries, irrespective of whether such obligation or liability is assumed, (e) all obligations to pay the deferred purchase price of assets
(other than trade payables incurred in the ordinary course of business and repayable in accordance with customary trade practices), (f) all obligations owing under Hedge Agreements, and (g) any obligation of guaranteeing or intended to
guarantee (whether directly or indirectly guaranteed, endorsed, co-made, discounted, or sold with recourse) any obligation of any other Person that constitutes Indebtedness under any of clauses (a) through (f) above. 

“Indemnified Liabilities” has the meaning set forth in Section 11.3. 

“Indemnified Person” has the meaning set forth in Section 11.3. 

“Insolvency Proceeding” means any proceeding commenced by or against any Person under any provision of the Bankruptcy Code or
under any other state or federal bankruptcy or insolvency law, assignments for the benefit of creditors, formal or informal moratoria, compositions, extensions generally with creditors, or proceedings seeking reorganization, arrangement, or other
similar relief. 
 “Intangible Assets” means, with respect to any Person, that portion of the book value of all of such
Person’s assets that would be treated as intangibles under GAAP. 
 “Interest Coverage Ratio” means, with respect to
any Person for any period, the ratio of (i) Net Investment Income for such period, to (ii) total interest expense (including unused line fees) to the extent paid or required to be paid during such period, in each case determined for such
Person. 

  
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 “Interest Period” means, with respect to each LIBOR Rate Loan, a period
commencing on the first day of a calendar month and ending on the last day of such calendar month; provided, however, that if Borrower delivers a LIBOR Notice in accordance with Section 2.12 on or before the Closing Date,
then such LIBOR Notice shall create and be effective with respect to an Interest Period commencing on the Closing Date and ending on the last day of the calendar month in which the Closing Date occurs. 

“Inventory” means inventory (as that term is defined in the Code). 

“Investment” means, with respect to any Person, any investment by such Person in any other Person (including Affiliates) in
the form of loans, guarantees, advances, or capital contributions (excluding (a) commission, travel, and similar advances to officers and employees of such Person made in the ordinary course of business, and (b) bona fide Accounts arising
in the ordinary course of business consistent with past practice), purchases or other acquisitions of Indebtedness, Stock or all or substantially all of the assets of such Person (or of any division or business line of such other Person), and any
other items that are or would be classified as investments on a balance sheet prepared in accordance with GAAP. 
 “Investment
Property” means investment property (as that term is defined in the Code). 
 “IRC” means the Internal Revenue
Code of 1986, as in effect from time to time. 
 “Lender” and “Lenders” have the respective meanings set
forth in the preamble to this Agreement, shall include the Swing Lender, and shall include any other Person made a party to this Agreement in accordance with the provisions of Section 14.1. 

“Lender Group” means, individually and collectively, each of the Lenders (including the Swing Lender) and Agent. 

“Lender Group Expenses” means all reasonable (a) costs or expenses (including taxes, and insurance premiums) required to
be paid by Borrower or its Subsidiaries under any of the Loan Documents that are paid, advanced or incurred by the Lender Group, (b) fees or charges paid or incurred by Agent in connection with the Lender Group’s transactions with Borrower
or its Subsidiaries, including, fees or charges for photocopying, notarization, couriers and messengers, telecommunication, public record searches (including tax lien, litigation, and UCC searches and including searches with the patent and trademark
office, the copyright office, or the department of motor vehicles), filing, recording, publication, appraisal (including initial and subsequent periodic Collateral appraisals or valuations or business valuations to the extent of the fees and charges
therefor (and up to the amount of any limitation contained in this Agreement)), real estate surveys, real estate title policies and endorsements, and environmental audits, (c) Agent’s customary fees and charges (as adjusted from time to
time) with respect to the disbursement of funds (or the receipt of funds) to or for the account of Borrower (whether by wire transfer or otherwise), together with any out-of-pocket costs and expenses incurred in connection therewith, (by wire
transfer or otherwise), (d) charges paid or incurred by Agent resulting from the dishonor of checks, (e) costs and expenses paid or incurred by the Lender Group to correct any default or enforce any provision of the Loan Documents, or in
gaining possession of, maintaining, handling, preserving, storing, shipping, selling, preparing for sale, or 

  
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advertising to sell the Collateral, or any portion thereof, irrespective of whether a sale is consummated, (f) out of pocket audit fees and expenses (including travel, meals, and lodging) of
Agent related to any inspections or audits to the extent of the fees and charges (and up to the amount of any limitation) contained in the Agreement or the Fee Letter, (g) costs and expenses of third party claims or any other suit paid or
incurred by the Lender Group in enforcing or defending the Loan Documents or in connection with the transactions contemplated by the Loan Documents or the Lender Group’s relationship with Borrower or any of its Subsidiaries or any Guarantor,
(h) Agent’s costs and expenses (including attorneys’ fees) incurred in advising, structuring, drafting, reviewing, administering, or amending the Loan Documents, and (i) Agent’s and each Lender’s costs and expenses
(including attorneys’, accountants’, consultants’, and other advisors’ fees and expenses) incurred in terminating, enforcing (including attorneys’, accountants’, consultants’, and other advisors’ fees and
expenses incurred in connection with a “workout,” a “restructuring,” or an Insolvency Proceeding concerning Borrower or any of its Subsidiaries or any Guarantor or in exercising rights or remedies under the Loan Documents), or
defending the Loan Documents, irrespective of whether suit is brought, or in taking any Remedial Action concerning the Collateral. All such amounts representing a mere pass-through by a member of the Lender Group of out-of-pocket costs and expenses
set by a third-party shall be deemed to be reasonable for purposes of this Agreement and other Loan Documents. 
 “Lender-Related
Person” means, with respect to any Lender, such Lender, together with such Lender’s Affiliates, and the officers, directors, employees, and agents of such Lender. 

“LIBOR Deadline” has the meaning specified therefor in Section 2.12(a). 

“LIBOR Notice” means a written notice in the form of Exhibit L-1. 

“LIBOR Option” has the meaning specified therefor in Section 2.12(a). 

“LIBOR Rate” means, for each Interest Period for each LIBOR Rate Loan, the rate per annum determined by Agent by dividing
(a) the Base LIBOR Rate for such Interest Period, by (b) 100% minus the Reserve Percentage. The LIBOR Rate shall be adjusted on and as of the effective day of any change in the Reserve Percentage. 

“LIBOR Rate Loan” means each portion of an Advance that bears interest at a rate determined by reference to the LIBOR Rate
pursuant to Borrower’s exercise of the LIBOR Option in accordance with Section 2.12. 
 “LIBOR Rate
Margin” means three and one-quarter percent (3.25%). 
 “Life Sciences Industry Note Receivable” means a Note
Receivable due from an Account Debtor that is a company that researches and produces pharmaceuticals, biotechnology, and medical devices for use in humans. The industry sub-sectors of the life sciences industry, include, but are not limited to
medical devices, bio-pharmaceutical, drug discovery and drug delivery. 
 “Lien” means any interest in an asset securing an
obligation owed to, or a claim by, any Person other than the owner of the asset, irrespective of whether (a) such interest is based on the common law, statute, or contract, (b) such interest is recorded or perfected, and (c) such
interest 

  
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is contingent upon the occurrence of some future event or events or the existence of some future circumstance or circumstances. Without limiting the generality of the foregoing, the term
“Lien” includes the lien or security interest arising from a mortgage, deed of trust, deed to secure debt, encumbrance, pledge, hypothecation, assignment, deposit arrangement, security agreement, conditional sale or trust receipt, or from
a lease, consignment, or bailment for security purposes and also includes reservations, exceptions, encroachments, easements, rights-of-way, covenants, conditions, restrictions, leases, and other title exceptions and encumbrances affecting Real
Property. 
 “Loan Account” has the meaning set forth in Section 2.9. 

“Loan Documents” means this Agreement, the Omnibus Amendment and Reaffirmation, the Cash Management Agreements, the Closing
Certificates, the Control Agreements, the Sale and Servicing Agreement, the Disbursement Letter, the Fee Letter, the Guaranties (if any), the Officers’ Certificates, any note or notes executed by Borrower in connection with this Agreement and
payable to a member of the Lender Group, and any other agreement entered into, previously, now or in the future, by Borrower or any of its Subsidiaries or any Guarantor and the Lender Group in connection with this Agreement and not specifically
being amended and restated or canceled in connection with this Agreement. 
 “Material Adverse Change” means (a) a
material adverse change in the business, prospects, operations, results of operations, assets, liabilities or condition (financial or otherwise) of Borrower and its Subsidiaries, taken as a whole, or HTGC and its Subsidiaries, taken as a whole,
(b) a material impairment of the ability to HTGC, Borrower’s or their respective Subsidiaries to perform their obligations under the Loan Documents to which they are parties or of the Lender Group’s ability to enforce the Obligations
or realize upon the Collateral, or (c) a material impairment of the enforceability or priority of the Agent’s Liens with respect to the Collateral as a result of an action or failure to act on the part of HTGC, Borrower’s or their
respective Subsidiaries. 
 “Maturity Date” has the meaning set forth in Section 3.4. 

“Maximum Revolver Amount” means $300,000,000, or such other amount of the aggregate Commitments at such time as reflected on
Schedule C-1 as then in effect pursuant to this Agreement or any amendment to this Agreement. Notwithstanding any provision in Section 15.1, any amendment to this Agreement that only adds one or more additional lenders as a Lender
under this Agreement or adds or increases the amount of a Lender’s Commitment shall be effective if signed by the additional or existing Lender whose Commitment is added or increased thereby, Borrower and Agent, and shall not require the
consent of Required Lenders or any other Lender. 
 “Negotiable Collateral” means letters of credit, letter of credit
rights, instruments, promissory notes, drafts, documents, and chattel paper (including electronic chattel paper and tangible chattel paper). 

“Net Eligible Balance” means, as of any date of determination, the aggregate outstanding principal balance of all Eligible
Notes Receivable, as calculated after taking into account the concentration limits set forth in clauses (1) through (8) in the definition of Eligible Notes Receivable. 

  
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 “Net Investment Income” means, with respect to any Person for any fiscal period,
such Person’s interest and fee income, less operating expenses, in each case as determined for such period and in each case not otherwise defined herein as determined in accordance with GAAP. 

“Non-Defaulting Lender” means each Lender other than a Defaulting Lender. 

“Note Receivable” means a promissory note evidencing a commercial loan made or purchased by Borrower in accordance with
Borrower’s Required Procedures and secured by a Lien on property owned by the maker of such note; provided, that if Borrower’s Required Procedures as in effect at the time that such loan is made or purchased by Borrower do not require the
execution of a promissory note and no promissory note is executed to evidence such loan, then the term “Note Receivable” means the obligation of the Account Debtor to repay such loan as evidenced by the agreements and documents evidencing
such loan. 
 “Obligations” means (a) all loans, Advances, debts, principal, interest (including any interest that,
but for the commencement of an Insolvency Proceeding, would have accrued), premiums, liabilities (including all amounts charged to Borrower’s Loan Account pursuant hereto), obligations (including indemnification obligations), fees (including
the fees provided for in the Fee Letter), charges, costs, Lender Group Expenses (including any fees or expenses that, but for the commencement of an Insolvency Proceeding, would have accrued), lease payments, guaranties, covenants, and duties of any
kind and description owing by Borrower to the Lender Group pursuant to or evidenced by the Loan Documents and irrespective of whether for the payment of money, whether direct or indirect, absolute or contingent, due or to become due, now existing or
hereafter arising, and including all interest not paid when due and all Lender Group Expenses that Borrower is required to pay or reimburse by the Loan Documents, by law, or otherwise, (b) all Bank Product Obligations, and (c) all
“Obligations” under and as defined in the Original Loan Agreement in existence as of or accrued through the Closing Date. Without limiting the generality of the foregoing, the Obligations of Borrower under the Loan Documents include the
obligation to pay (i) the principal of the Advances, (ii) interest accrued on the Advances, (iii) Lender Group Expenses, (iv) fees payable under the Agreement or any of the other Loan Documents, and (v) indemnities and other
amounts payable by Borrower under any Loan Document. Any reference in this Agreement or in the Loan Documents to the Obligations shall include all extensions, modifications, renewals, supplements, restatements or alterations thereof, both prior and
subsequent to any Insolvency Proceeding. 
 “OFAC” means The Office of Foreign Assets Control of the U.S. Department of the
Treasury. 
 “Officer’s Certificates” means the forms of Representations and Warranties of Officers provided by Agent
to Borrower and HTGC, together with each of Borrower’s and HTGC’s completed responses to the inquiries set forth therein, the form and substance of such responses to be satisfactory to Agent. 

  
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 “Omnibus Amendment and Reaffirmation” shall mean the Omnibus Amendment and
Reaffirmation of Loan Documents effective as of June 29, 2015, executed by Agent, Borrower and HTGC with respect to those Original Loan Documents that are not being amended and restated on the Closing Date but will continue to be Loan Documents
under this Agreement. 
 “Original Closing Date” shall mean the “Closing Date” under and as defined in the
Original Loan Agreement. 
 “Original Loan Agreement” shall have the meaning set forth in the Recitals to this Agreement.

 “Original Loan Documents” shall have the meaning set forth in the Recitals to this Agreement. 

“Original Loan Documents Waiver Letter” shall mean the letter agreement among Agent, Lenders, Borrower and HTGC, dated
June 29, 2015, pursuant to which Agent and Lenders waive certain specified Defaults or Events of Default under the Original Loan Agreement and Original Loan Documents. 

“Originating Lender” has the meaning set forth in Section 14.1(e). 

“Overadvance” has the meaning set forth in Section 2.4. 

“Participant” has the meaning set forth in Section 14.1(e). 

“Permitted Discretion” means a determination made in the exercise of reasonable (from the perspective of a secured
asset-based lender) business judgment. 
 “Permitted Dispositions” means (a) sales or other dispositions of Equipment
that is substantially worn, damaged, or obsolete in the ordinary course of business, (b) sales of Inventory to buyers in the ordinary course of business, (c) the use or transfer of money or Cash Equivalents in a manner that is not
prohibited by the terms of this Agreement or the other Loan Documents, (d) the licensing, on a non-exclusive basis, of patents, trademarks, copyrights, and other intellectual property rights in the ordinary course of business, (e) a sale
of a Note Receivable in the ordinary course of business, without recourse to Borrower (other than limited recourse for not more than 90 days for any misrepresentation or for failure of Account Debtor to make first payment following sale or for other
conditions approved in writing by Agent) for a cash purchase price of not less than one hundred percent (100%) of the unpaid balance thereof, (f) a sale of Note Receivable Collateral in connection with a foreclosure or similar proceeding
following a default under the Note Receivable secured by such Note Receivable Collateral, and (g) sale of Real Estate Owned. 

“Permitted Investments” means (a) Investments in cash and Cash Equivalents, (b) Investments in negotiable
instruments for collection, (c) advances made in connection with purchases of goods or services in the ordinary course of business, (d) commercial loans evidenced by a Note Receivable made in the ordinary course of business,
(e) Investments received in settlement of amounts due to Borrower or any of its Subsidiaries effected in the ordinary course of business or owing to Borrower or any of its Subsidiaries as a result of Insolvency Proceedings involving an Account
Debtor or upon the foreclosure or enforcement of any Lien in favor of Borrower or its Subsidiaries, and (f) Real Estate Owned. 

  
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 “Permitted Liens” means (a) Liens held by Agent, for the benefit of the
Lender Group or any Bank Product Provider, (b) Liens for unpaid taxes or assessments that either (i) are not yet delinquent, or (ii) do not constitute an Event of Default hereunder and are the subject of Permitted Protests,
(c) Liens set forth on Schedule P-1, (d) the interests of lessors under operating leases, (e) Liens that secure Purchase Money Indebtedness, including the interests of lessors under Capital Leases to the extent that such Liens
or interests secure Permitted Purchase Money Indebtedness and so long as such Lien attaches only to the asset purchased or acquired and the proceeds thereof, (f) Liens arising by operation of law in favor of warehousemen, landlords, carriers,
mechanics, materialmen, laborers, or suppliers, incurred in the ordinary course of business and not in connection with the borrowing of money, and which Liens either (i) are for sums not yet delinquent, or (ii) are the subject of Permitted
Protests, (g) Liens on amounts deposited in connection with obtaining worker’s compensation or other unemployment insurance, (h) Liens on amounts deposited in connection with the making or entering into of bids, tenders, or leases in
the ordinary course of business and not in connection with the borrowing of money, (i) Liens on amounts deposited as security for surety or appeal bonds in connection with obtaining such bonds in the ordinary course of business, (j) Liens
resulting from any judgment or award that is not an Event of Default hereunder, (k) with respect to any Real Property, easements, covenants, restrictions, rights of way, and zoning restrictions that do not materially interfere with or impair
the use or operation thereof, and (l) rights of setoff imposed by law upon deposit of cash and cash equivalents in favor of banks or other depository institutions incurred in the ordinary course of business in deposit accounts maintained with
such bank or depository institution to the extent permitted under this Agreement. 
 “Permitted Protest” means the right of
Borrower or any of its Subsidiaries to protest any Lien (other than any Lien that secures the Obligations), taxes (other than payroll taxes or taxes that are the subject of a United States federal tax lien), or rental payment, provided that
(a) a reserve with respect to such obligation is established on the Books in such amount as is required under GAAP, (b) any such protest is instituted promptly and prosecuted diligently by Borrower or any of its Subsidiaries, as
applicable, in good faith, and (c) Agent is satisfied that, while any such protest is pending, there will be no impairment of the enforceability, validity, or priority of any of the Agent’s Liens. 

“Permitted Purchase Money Indebtedness” means, as of any date of determination, Purchase Money Indebtedness incurred after
the Original Closing Date in an aggregate principal amount outstanding at any one time not in excess of $25,000. 

“Person” means natural persons, corporations, limited liability companies, limited partnerships, general partnerships,
limited liability partnerships, joint ventures, trusts, land trusts, business trusts, or other organizations, irrespective of whether they are legal entities, and governments and agencies and political subdivisions thereof. 

“Projections” means, with respect to any Person, such Person’s forecasted (a) balance sheets, (b) profit and
loss statements, and (c) cash flow statements, in the form provided to such Person’s Board of Directors, together with appropriate supporting details and a statement of underlying assumptions, in the form provided to such Person’s
Board of Directors. 

  
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 “Pro Rata Share” means, as of any date of determination, with respect to all
matters as to a particular Lender (including the indemnification obligations arising under Section 16.7), (a) prior to the Commitments being terminated or reduced to zero, the percentage obtained by dividing (i) such
Lender’s Commitment, by (ii) the aggregate Commitments of all Lenders, and (b) from and after the time that the Commitments have been terminated or reduced to zero, the percentage obtained by dividing (i) the aggregate
outstanding principal amount of such Lender’s Advances, by (ii) the aggregate outstanding principal amount of all Advances. 

“Purchase Money Indebtedness” means Indebtedness (other than the Obligations, but including Capitalized Lease Obligations),
incurred at the time of, or within 20 days after, the acquisition of any fixed assets for the purpose of financing all or any part of the acquisition cost thereof. 

“Real Estate Owned” means Real Property that secured a Note Receivable and was acquired by Borrower in connection with a
foreclosure, deed-in-lieu of foreclosure or other similar process in which Borrower took legal title to such Real Property following a default under such Note Receivable. 

“Real Property” means any estates or interests in real property now owned or hereafter acquired by Borrower or any of its
Subsidiaries and the improvements thereto. 
 “Record” means information that is inscribed on a tangible medium or which is
stored in an electronic or other medium and is retrievable in perceivable form. 
 “Remedial Action” means all actions
taken to (a) clean up, remove, remediate, contain, treat, monitor, assess, evaluate, or in any way address Hazardous Materials in the indoor or outdoor environment, (b) prevent or minimize a release or threatened release of Hazardous
Materials so they do not migrate or endanger or threaten to endanger public health or welfare or the indoor or outdoor environment, (c) restore or reclaim natural resources or the environment, (d) perform any pre-remedial studies,
investigations, or post-remedial operation and maintenance activities, or (e) conduct any other actions with respect to Hazardous Materials authorized by Environmental Laws. 

“Replacement Lender” has the meaning set forth in Section 15.2(a). 

“Report” has the meaning set forth in Section 16.17(a). 

“Required Amortization Amount” means, as of any date of determination, an amount equal to the product of (x) 1/12
multiplied by (y) the Amortization Commencement Date Principal Balance multiplied by (z) the number of full or partial months elapsed since the Amortization Commencement Date. 

“Required Asset Documents” means the documents set forth on Schedule R-1 hereto. 

  
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 “Required Lenders” means, at any time, the Lenders whose aggregate Pro Rata
Shares constitute more than fifty percent (50%) of the Commitments, or if the Commitments have been terminated irrevocably, more than fifty percent (50%) of the Obligations then outstanding; provided, however, that at any
time when there are two or more Lenders, “Required Lenders” shall mean two or more Lenders (one of which must be WFCF if WFCF is then a Lender) whose aggregate Pro Rata Shares constitute more than fifty percent (50%) of the
Commitments, or if the Commitments have been terminated irrevocably, more than fifty percent (50%) of the Obligations then outstanding. 

“Reserve Percentage” means, on any day, for any Lender, the maximum percentage prescribed by the Board of Governors of the
Federal Reserve System (or any successor Governmental Authority) for determining the reserve requirements (including any basic, supplemental, marginal, or emergency reserves) that are in effect on such date with respect to eurocurrency funding
(currently referred to as “eurocurrency liabilities”) of that Lender, but so long as such Lender is not required or directed under applicable regulations to maintain such reserves, the Reserve Percentage shall be zero. 

“Restricted Payments” means (a) any dividend or other distribution, in cash or other property, direct or indirect, on
account of any class of Stock in Borrower, now or hereafter outstanding, (b) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, of any class of Stock in Borrower, now or
hereafter outstanding, (c) any payment made to retire, or obtain the surrender of, any outstanding warrants, options or other rights to acquire shares of any class of Stock in Borrower, now or hereafter outstanding, (d) any payment or
prepayment of principal, or redemption, purchase, retirement, defeasance, sinking fund or similar payment with respect to, any Subordinated Debt or any Indebtedness owing to a holder of Stock in Borrower or an Affiliate of a holder of Stock in
Borrower, or (e) any payment (other than compensation to an officer or director of Borrower, as such, in the ordinary course of business) to a holder of Stock in Borrower or to an Affiliate of Borrower or an Affiliate of any holder of Stock in
Borrower not expressly authorized herein. 
 “Revolver Usage” means, as of any date of determination, the amount of
outstanding Advances. 
 “Revolving Credit Availability Period” means the period commencing on the Original Closing Date
and ending on the earlier of (a) August 1, 2017, and (b) termination pursuant to Section 9.1. 
 “Sale
and Servicing Agreement” means the Amended and Restated Sale and Servicing Agreement, dated as of the Closing Date, among Borrower, HTGC (as Originator and initial Servicer), and Agent, in form and substance satisfactory to Agent. 

“SEC” means the United States Securities and Exchange Commission and any successor thereto. 

“Securities Account” means a “securities account,” as that term is defined in the Code. 

  
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 “Servicer” means HTGC, or any other Person that assumes the functions of
servicing the Notes Receivables with the prior written consent of Agent or is otherwise appointed pursuant to the terms of the Sale and Servicing Agreement. 

“Servicing Fees” means the “Servicing Fee” payable to Servicer in accordance with the Sale and Servicing Agreement,
which shall in no case exceed for each Collection Period (as defined in the Sale and Servicing Agreement) one percent (1.0%) per annum on the average of the Aggregate Outstanding Loan Balances (as defined in the Sale and Servicing Agreement) as
of the first and last day of such Collection Period. 
 “Settlement” has the meaning set forth in
Section 2.2(f)(i). 
 “Settlement Date” has the meaning set forth in Section 2.2(f)(i). 

“Solvent” means, with respect to any Person on a particular date, that, at fair valuations, the sum of such Person’s
assets is greater than all of such Person’s debts. 
 “Stock” means all shares, options, warrants, membership
interests, units of membership interests, other interests, participations, or other equivalents (regardless of how designated) of or in a Person, whether voting or nonvoting, including common stock, preferred stock, or any other “equity
security” (as such term is defined in Rule 3a11-1 of the General Rules and Regulations promulgated by the SEC under the Exchange Act). 

“Subordinated Debt” means any unsecured Indebtedness specifically subordinated to the Obligations on terms and conditions
reasonably satisfactory to Agent and subject to a Subordination Agreement. 
 “Subordination Agreement” means a
subordination agreement executed and delivered by Borrower and each of the holders of Subordinated Debt and Agent, the form and substance of which is satisfactory to Agent. 

“Subsidiary” of a Person means a corporation, partnership, limited liability company, or other entity in which that Person
directly or indirectly owns or controls the shares of Stock having ordinary voting power to elect a majority of the board of directors (or appoint other comparable managers) of such corporation, partnership, limited liability company, or other
entity. 
 “Supporting Obligation” means a letter-of-credit right or secondary obligation that supports the payment or
performance of an Account, chattel paper, document, General Intangible, Note Receivable, instrument, or Investment Property. 

“Swing Lender” means WFCF or any other Lender that, at the request of Borrower and with the consent of Agent agrees, in such
Lender’s sole discretion, to become the Swing Lender hereunder. 
 “Swing Loan” has the meaning set forth in
Section 2.2(d)(i). 

  
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 “Tangible Net Worth” means, with respect to any Person as of any date of
determination, determined on a consolidated basis and in accordance with GAAP, the result of (a) such Person’s total members’ or shareholder’s equity, minus (b) all Intangible Assets of such Person, minus
(c) all of such Person’s prepaid expenses, minus (d) all amounts due to such Person from Affiliates of such Person. 

“Taxes” has the meaning set forth in Section 16.11(a). 

“Technology Industry Note Receivable” means a Note Receivable due from an Account Debtor that is a company that provides
products or services that require advanced innovative technologies. The industry sub-sectors, include, but are not limited to, computer software and hardware, networking systems, semiconductors, semiconductor capital equipment, information
technology infrastructure or services, internet consumer and business services, telecommunications, telecommunications equipment, media, sustainable and renewable energy technologies and energy efficiency and monitoring technologies. 

“UCC Filing Authorization Letter” means a letter duly executed by Borrower authorizing Agent to file appropriate financing
statements in such office or offices as may be necessary or, in the opinion of Agent, desirable to perfect the security interests purported to be created by the Loan Documents. 

“United States” means the United States of America. 

“Voidable Transfer” has the meaning set forth in Section 17.6. 

“Wells Fargo” means Wells Fargo Bank, National Association, a national banking association. 

“WFCF” means Wells Fargo Capital Finance, LLC, a Delaware limited liability company formerly known as Wells Fargo Foothill,
LLC. 
 1.2 Accounting Terms.     All accounting terms not specifically defined herein shall be construed
in accordance with GAAP. When used herein, the term “financial statements” shall include the notes and schedules thereto. Whenever the term “Borrower” is used in respect of a financial covenant or a related definition, it shall
be understood to mean Borrower and its Subsidiaries on a consolidated basis unless the context clearly requires otherwise. 
 1.3
Code.     Any terms used in this Agreement that are defined in the Code shall be construed and defined as set forth in the Code unless otherwise defined herein; provided however, that to the extent that the Code
is used to define any term herein and such term is defined differently in different Articles of the Code, the definition of such term contained in Article 9 shall govern. 

1.4 Construction.     Unless the context of this Agreement or any other Loan Document clearly requires
otherwise, references to the plural include the singular, references to the singular include the plural, the terms “includes” and “including” are not limiting, and the term “or” has, except where otherwise indicated,
the inclusive meaning represented by the phrase “and/or.” The words “hereof,” “herein,” “hereby,” “hereunder,” and similar terms in this  

  
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Agreement or any other Loan Document refer to this Agreement or such other Loan Document, as the case may be, as a whole and not to any particular provision of this Agreement or such other Loan
Document, as the case may be. Section, subsection, clause, schedule, and exhibit references herein are to this Agreement unless otherwise specified. Any reference in this Agreement or in the other Loan Documents to any agreement, instrument, or
document shall include all alterations, amendments, changes, extensions, modifications, renewals, replacements, substitutions, joinders, and supplements, thereto and thereof, as applicable (subject to any restrictions on such alterations,
amendments, changes, extensions, modifications, renewals, replacements, substitutions, joinders, and supplements set forth herein). The words “asset” and “property” shall be construed to have the same meaning and effect and to
refer to any and all tangible and intangible assets and properties. Any reference herein or in any other Loan Document to the satisfaction, repayment, or payment in full of the Obligations shall mean the repayment in full in cash or immediately
available funds (or, in the case of obligations with respect to Bank Products (other than Hedge Obligations), providing Bank Product Collateralization) of all of the Obligations (including the payment of any Lender Group Expenses that have accrued
irrespective of whether demand has been made therefor and the payment of any termination amount then applicable (or which would or could become applicable as a result of the repayment of the other Obligations) under Hedge Agreements provided by
Hedge Providers) other than (i) unasserted contingent indemnification Obligations, (ii) any Bank Product Obligations (other than Hedge Obligations) that, at such time, are allowed by the applicable Bank Product Provider to remain
outstanding without being required to be repaid or cash collateralized, and (iii) any Hedge Obligations that, at such time, are allowed by the applicable Hedge Provider to remain outstanding without being required to be repaid. Any reference
herein to any Person shall be construed to include such Person’s successors and assigns. Any requirement of a writing contained herein or in the other Loan Documents shall be satisfied by the transmission of a Record and any Record transmitted
shall constitute a representation and warranty as to the accuracy and completeness of the information contained therein. 
 1.5
Schedules and Exhibits.     All of the schedules and exhibits attached to this Agreement shall be deemed incorporated herein by reference. 

 

	2.	LOAN AND TERMS OF PAYMENT. 

 2.1 Revolver Advances. 

(a) Subject to the terms and conditions of this Agreement, and during the Revolving Credit Availability Period, each Lender agrees (severally,
not jointly or jointly and severally) to make advances (“Advances”) to Borrower in an amount at any one time outstanding not to exceed such Lender’s Pro Rata Share of an amount equal to the lesser of (i) the Maximum
Revolver Amount or (ii) the Borrowing Base. All “Advances” outstanding under the Original Loan Agreement as of the Closing Date immediately before the effectiveness of this Agreement will be deemed to be and continued as Advances
outstanding hereunder. 
 (b) Anything to the contrary in this Section 2.1 notwithstanding, Agent shall have the right to
establish reserves in such amounts, and with respect to such matters, as Agent in its Permitted Discretion shall deem necessary or appropriate, against the Borrowing Base, 

  
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including reserves with respect to (i) sums that Borrower is required to pay (such as taxes, assessments, insurance premiums, or, in the case of leased assets, rents or other amounts payable
under such leases) and has failed to pay under any Section of this Agreement or any other Loan Document, (ii) amounts owing by Borrower or any of its Subsidiaries to any Person to the extent secured by a Lien on, or trust over, any of the
Collateral (other than any existing Permitted Lien set forth on Schedule P-1 which is specifically identified thereon as entitled to have priority over the Agent’s Liens), which Lien or trust, in the Permitted Discretion of Agent likely
would have a priority superior to the Agent’s Liens (such as Liens or trusts in favor of landlords, warehousemen, carriers, mechanics, materialmen, laborers, or suppliers, or Liens or trusts for ad valorem, excise, sales, or other taxes where
given priority under applicable law) in and to such item of the Collateral, (iii) the valuation of any Note Receivable, the Collateral securing any Note Receivable, or other Collateral, and (iv) the aggregate amount of unfunded commitments
of Borrower to the makers of Notes Receivable. So long as no Default or Event of Default has occurred and is continuing, Agent shall first notify and attempt to discuss with Borrower any such reserve that Agent proposes to establish unless Agent, in
its Permitted Discretion, believes that exigent circumstances justify the immediate establishment of such reserve. 
 (c) The Lenders shall
have no obligation to make additional Advances hereunder to the extent such additional Advances would cause the Revolver Usage to exceed the Maximum Revolver Amount. 

(d) Amounts borrowed pursuant to this Section 2.1 may be repaid and, subject to the terms and conditions of this Agreement,
reborrowed at any time during the term of this Agreement. 
 2.2 Borrowing Procedures and Settlements. 

(a) Procedure for Borrowing.     Each Borrowing shall be made by an irrevocable written request by an Authorized
Person delivered to Agent (which notice must be received by Agent no later than 1:00 p.m. (New York time) on the Business Day prior to the date that is the requested Funding Date specifying (i) the amount of such Borrowing, and (ii) the
requested Funding Date, which shall be a Business Day. At Agent’s election, in lieu of delivering the above-described written request, any Authorized Person may give Agent telephonic notice of such request by the required time. In such
circumstances, Borrower agrees that any such telephonic notice will be confirmed in writing within 24 hours of the giving of such telephonic notice, but the failure to provide such written confirmation shall not affect the validity of the request.

 (b) Agent’s Election.     Promptly after receipt of a request for a Borrowing pursuant to
Section 2.2(a), Agent shall elect, in its discretion, (i) to have the terms of Section 2.2(c) apply to such requested Borrowing, or (ii) to request Swing Lender to make a Swing Loan pursuant to the terms of
Section 2.2(d) in the amount of the requested Borrowing; provided, however, that if Swing Lender declines in its sole discretion to make a Swing Loan pursuant to Section 2.2(d), Agent shall elect to have the
terms of Section 2.2(c) apply to such requested Borrowing. 

  
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 (c) Making of Advances. 

(i) In the event that Agent shall elect to have the terms of this Section 2.2(c) apply to a requested Borrowing as
described in Section 2.2(b), then promptly after receipt of a request for a Borrowing pursuant to Section 2.2(a), Agent shall notify the Lenders, not later than 4:00 p.m. (New York time) on the Business Day immediately
preceding the Funding Date applicable thereto, by telecopy, telephone, or other similar form of transmission, of the requested Borrowing. Each Lender shall make the amount of such Lender’s Pro Rata Share of the requested Borrowing available to
Agent in immediately available funds, to Agent’s Account, not later than 1:00 p.m. (New York time) on the Funding Date applicable thereto. After Agent’s receipt of the proceeds of such Advances, upon satisfaction of the applicable
conditions precedent set forth in Section 3 hereof, Agent shall make the proceeds thereof available to Borrower on the applicable Funding Date by transferring immediately available funds equal to such proceeds received by Agent to
Borrower’s Designated Account; provided, however, that, subject to the provisions of Section 2.2(i), Agent shall not request any Lender to make, and no Lender shall have the obligation to make, any Advance if Agent
shall have actual knowledge that (1) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on the requested Funding Date for the applicable Borrowing unless such condition has been waived,
or (2) the requested Borrowing would exceed the Availability on such Funding Date. 
 (ii) Unless Agent receives notice
from a Lender on or prior to the Closing Date or, with respect to any Borrowing after the Closing Date, prior to 12:00 noon (New York time) on the date of such Borrowing, that such Lender will not make available as and when required hereunder to
Agent for the account of Borrower the amount of that Lender’s Pro Rata Share of the Borrowing, Agent may assume that each Lender has made or will make such amount available to Agent in immediately available funds on the Funding Date and Agent
may (but shall not be so required), in reliance upon such assumption, make available to Borrower on such date a corresponding amount. If and to the extent any Lender shall not have made its full amount available to Agent in immediately available
funds and Agent in such circumstances has made available to Borrower such amount, that Lender shall on the Business Day following such Funding Date make such amount available to Agent, together with interest at the Defaulting Lender Rate for each
day during such period. A notice submitted by Agent to any Lender with respect to amounts owing under this subsection shall be conclusive, absent manifest error. If such amount is so made available, such payment to Agent shall constitute such
Lender’s Advance on the date of Borrowing for all purposes of this Agreement. If such amount is not made available to Agent on the Business Day following the Funding Date, Agent will notify Borrower of such failure to fund and, upon demand by
Agent, Borrower shall pay such amount to Agent for Agent’s account, together with interest thereon for each day elapsed since the date of such Borrowing, at a rate per annum equal to the interest rate applicable at the time to the Advances
composing such Borrowing. The failure of any Lender to make any Advance on any Funding Date shall not relieve any other Lender of any obligation hereunder to make an Advance on such Funding Date, but no Lender shall be responsible for the failure of
any other Lender to make the Advance to be made by such other Lender on any Funding Date. 

  
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 (iii) Agent shall not be obligated to transfer to a Defaulting Lender any
payments made by Borrower to Agent for the Defaulting Lender’s benefit, and, in the absence of such transfer to the Defaulting Lender, Agent shall transfer any such payments (A) first, to Swing Lender to the extent of any Swing Loans that
were made by Swing Lender and that were required to be, but were not, paid by the Defaulting Lender, (B) second, to each Non-Defaulting Lender ratably in accordance with their Commitments (but, in each case, only to the extent that such
Defaulting Lender’s portion of an Advance (or other funding obligation) was funded by such other Non-Defaulting Lender), (C) to a suspense account maintained by Agent, the proceeds of which shall be retained by Agent and may be made
available to be re-advanced to or for the benefit of Borrower (upon the request of Borrower and subject to the conditions set forth in Section 3.3) as if such Defaulting Lender had made its portion of Advances (or other funding
obligations) hereunder, and (D) from and after the date on which all other Obligations have been paid in full, to such Defaulting Lender in accordance with tier (M) of Section 2.3(b)(i). Subject to the foregoing, Agent
may hold and, in its Permitted Discretion, re-lend to Borrower for the account of such Defaulting Lender the amount of all such payments received and retained by Agent for the account of such Defaulting Lender. Solely for the purposes of voting or
consenting to matters with respect to the Loan Documents (including the calculation of Pro Rata Share in connection therewith) and for the purpose of calculating the fee payable under Section 2.10(a), such Defaulting Lender shall be
deemed not to be a “Lender” and such Lender’s Commitment shall be deemed to be zero (and Borrower shall not be required to pay any fee payable under Section 2.10(a) that otherwise would have been required to have been paid
to such Defaulting Lender); provided, that (x) any Commitment of any Defaulting Lender may not be increased or extended without the consent of such Defaulting Lender, and (y) any waiver, amendment or modification to this Agreement
requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender disproportionately adversely relative to other affected Lenders shall require the consent of such Defaulting Lender. The provisions of this
Section 2.2(c)(iii) shall remain effective with respect to such Defaulting Lender until the earlier of (y) the date on which all of the Non-Defaulting Lenders, Agent, and Borrower shall have waived, in writing, the application of
this Section 2.2(c)(iii) to such Defaulting Lender, or (z) the date on which such Defaulting Lender makes payment of all amounts that it was obligated to fund hereunder, pays to Agent all amounts owing by Defaulting Lender in
respect of the amounts that it was obligated to fund hereunder, and, if requested by Agent, provides adequate assurance of its ability to perform its future obligations hereunder (on which earlier date, so long as no Event of Default has occurred
and is continuing, any remaining cash collateral held by Agent pursuant to Section 2.2(c)(iv) shall be released to Borrower); provided, that no adjustments will be made retroactively with respect to fees accrued or payments made
by or on behalf of Borrower while that Lender was a Defaulting Lender; provided further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Non-Defaulting Lender
will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. The operation of this Section 2.2(c)(iii) shall not be construed to increase or otherwise affect the
Commitment of any Lender, to relieve or excuse the performance by such Defaulting Lender or any 

  
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other Lender of its duties and obligations hereunder, or to relieve or excuse the performance by Borrower of its duties and obligations hereunder to Agent, Issuing Bank, or to the Lenders other
than such Defaulting Lender. Any failure by a Defaulting Lender to fund amounts that it was obligated to fund hereunder shall constitute a material breach by such Defaulting Lender of this Agreement and shall entitle Borrower, at its option, upon
written notice to Agent, to arrange for a substitute Lender to assume the Commitment of such Defaulting Lender, such substitute Lender to be reasonably acceptable to Agent. In connection with the arrangement of such a substitute Lender, the
Defaulting Lender shall have no right to refuse to be replaced hereunder, and agrees to execute and deliver a completed form of Assignment and Acceptance in favor of the substitute Lender (and agrees that it shall be deemed to have executed and
delivered such document if it fails to do so) subject only to being paid its share of the outstanding Obligations (other than Bank Product Obligations, but including all interest, fees (other than any fee payable under Section 2.10(a)
relating to any period in which Lender was a Defaulting Lender), and other amounts that may be due and payable in respect thereof; provided, that any such assumption of the Commitment of such Defaulting Lender shall not be deemed to
constitute a waiver of any of the Lender Groups’ or Borrower’s rights or remedies against any such Defaulting Lender arising out of or in relation to such failure to fund. In the event of a direct conflict between the priority provisions
of this Section 2.2(c)(iii) and any other provision contained in this Agreement or any other Loan Document, it is the intention of the parties hereto that such provisions be read together and construed, to the fullest extent possible, to
be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.2(c)(iii) shall control and govern. 

(iv) If any Swing Loan is outstanding at the time that a Lender becomes a Defaulting Lender then: 

(A) such Defaulting Lender’s Pro Rata Share of the Swing Loans shall be reallocated among the Non-Defaulting Lenders in
accordance with their respective Pro Rata Shares but only to the extent (x) the sum of all Non-Defaulting Lenders’ Pro Rata Shares of the Advances (including the Swing Loans) plus such Defaulting Lender’s Pro Rata Share of such
Swing Loans, does not exceed the total of all Non-Defaulting Lenders’ Commitments and (y) the conditions set forth in Section 3.3 are satisfied at such time; 

(B) if the reallocation described in clause (A) above cannot, or can only partially, be effected, Borrower shall
within one (1) Business Day following notice by the Agent, prepay such Defaulting Lender’s Pro Rata Share of the Swing Loan (after giving effect to any partial reallocation pursuant to clause (A) above); and 

(C) so long as any Lender is a Defaulting Lender, the Swing Lender shall not be required to make any Swing Loan to the extent
(x) the Defaulting Lender’s Pro Rata Share of such Swing Loans cannot be reallocated pursuant to this Section 2.2(c)(iv) or (y) the Swing Lender has not otherwise entered into arrangements reasonably satisfactory to the
Swing Lender and Borrower to eliminate the Swing Lender’s risk with respect to the Defaulting Lender’s participation in Swing Loans. 

  
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 (d) Making of Swing Loans. 

(i) In the event Agent shall elect, with the consent of Swing Lender, as a Lender, to have the terms of this
Section 2.2(d) apply to a requested Borrowing as described in Section 2.2(b), Swing Lender as a Lender shall make such Advance in the amount of such Borrowing (any such Advance made solely by Swing Lender as a Lender pursuant
to this Section 2.2(d) being referred to as a “Swing Loan” and such Advances being referred to collectively as “Swing Loans”) available to Borrower on the Funding Date applicable thereto by transferring
immediately available funds to Borrower’s Designated Account or, at the request of Borrower, to the account of a Settlement Agent. Each Swing Loan shall be deemed to be an Advance hereunder and shall be subject to all the terms and conditions
applicable to other Advances, except that all payments on any Swing Loan shall be payable to Swing Lender as a Lender solely for its own account (and for the account of the holder of any participation interest with respect to such Swing Loan).
Subject to the provisions of Section 2.2(i), Agent shall not request Swing Lender as a Lender to make, and Swing Lender as a Lender shall not make, any Swing Loan if Agent has actual knowledge that (i) one or more of the applicable
conditions precedent set forth in Section 3 will not be satisfied on the requested Funding Date for the applicable Borrowing unless such condition has been waived, (ii) the requested Borrowing would exceed the Availability on such
Funding Date, or (iii) the requested Borrowing would cause the aggregate outstanding amount of Swing Loans to exceed the lesser of (A) $15,000,000 or (B) five percent (5%) of the Maximum Revolver Amount at such time. Swing Lender
as a Lender shall not otherwise be required to determine whether the applicable conditions precedent set forth in Section 3 have been satisfied on the Funding Date applicable thereto prior to making, in its sole discretion, any Swing
Loan. 
 (ii) The Swing Loans shall be secured by the Agent’s Liens, constitute Advances and Obligations hereunder, and
bear interest at the rate applicable from time to time to Advances that are Base Rate Loans. 
 (e) Agent Advances. 

(i) Agent hereby is authorized by Borrower and the Lenders, from time to time in Agent’s sole discretion, (1) after
the occurrence and during the continuance of a Default or an Event of Default, or (2) at any time that any of the other applicable conditions precedent set forth in Section 3 have not been satisfied, to make Advances to Borrower on
behalf of the Lenders that Agent, in its Permitted Discretion deems necessary or desirable (A) to preserve or protect the Collateral, or any portion thereof, (B) to enhance the likelihood of repayment of the Obligations (other than the
Bank Product Obligations), or (C) to pay any other amount chargeable to Borrower pursuant to the terms of this Agreement, including Lender Group Expenses and the costs, fees, and expenses described in Section 10 (any of the Advances
described in this Section 2.2(e) shall be referred to as “Agent Advances”); provided, however, that Agent shall not 

  
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knowingly make additional Agent Advances that would cause the aggregate amount of outstanding Agent Advances at such time to exceed ten percent (10%) of the Borrowing Base at such time
without the consent of all Lenders. Each Agent Advance shall be deemed to be an Advance hereunder, except that all payments thereon shall be payable to Agent solely for its own account. 

(ii) The Agent Advances shall be repayable on demand and secured by the Agent’s Liens granted to Agent under the Loan
Documents, shall constitute Advances and Obligations hereunder, and shall bear interest at the rate applicable from time to time to Advances that are Base Rate Loans. 

(f) Settlement.     It is agreed that each Lender’s funded portion of the Advances is intended by the Lenders
to equal, at all times, such Lender’s Pro Rata Share of the outstanding Advances. Such agreement notwithstanding, Agent, Swing Lender, and the other Lenders agree (which agreement shall not be for the benefit of or enforceable by Borrower) that
in order to facilitate the administration of this Agreement and the other Loan Documents, settlement among them as to the Advances, the Swing Loans, and the Agent Advances shall take place on a periodic basis in accordance with the following
provisions: 
 (i) Agent shall request settlement (“Settlement”) with the Lenders on a weekly basis, or on a
more frequent basis if so determined by Agent, (1) on behalf of Swing Lender, with respect to each outstanding Swing Loan, (2) for itself, with respect to each Agent Advance, and (3) with respect to Collections received, as to each by
notifying the Lenders by telecopy, telephone, or other similar form of transmission, of such requested Settlement, no later than 5:00 p.m. (New York time) on the Business Day immediately prior to the date of such requested Settlement (the date of
such requested Settlement being the “Settlement Date”). Such notice of a Settlement Date shall include a summary statement of the amount of outstanding Advances, Swing Loans, and Agent Advances for the period since the prior
Settlement Date. Subject to the terms and conditions contained herein (including Section 2.2(c)(iii)): (y) if a Lender’s balance of the Advances, Swing Loans, and Agent Advances exceeds such Lender’s Pro Rata Share of the
Advances, Swing Loans, and Agent Advances as of a Settlement Date, then Agent shall, by no later than 2:00 p.m. (New York time) on the Settlement Date, transfer in immediately available funds to the account of such Lender as such Lender may
designate, an amount such that each such Lender shall, upon receipt of such amount, have as of the Settlement Date, its Pro Rata Share of the Advances, Swing Loans, and Agent Advances, and (z) if a Lender’s balance of the Advances, Swing
Loans, and Agent Advances is less than such Lender’s Pro Rata Share of the Advances, Swing Loans, and Agent Advances as of a Settlement Date, such Lender shall no later than 2:00 p.m. (New York time) on the Settlement Date transfer in
immediately available funds to the Agent’s Account, an amount such that each such Lender shall, upon transfer of such amount, have as of the Settlement Date, its Pro Rata Share of the Advances, Swing Loans, and Agent Advances. Such amounts made
available to Agent under clause (z) of the immediately preceding sentence shall be applied against the amounts of the applicable Swing Loan or Agent Advance and, together with the portion of such Swing Loan or Agent Advance representing
Swing Lender’s Pro Rata Share thereof, shall constitute Advances of such Lenders. If any such amount is not made available to Agent by any Lender on the 

  
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Settlement Date applicable thereto to the extent required by the terms hereof, Agent shall be entitled to recover for its account such amount on demand from such Lender together with interest
thereon at the Defaulting Lender Rate. 
 (ii) In determining whether a Lender’s balance of the Advances, Swing Loans,
and Agent Advances is less than, equal to, or greater than such Lender’s Pro Rata Share of the Advances, Swing Loans, and Agent Advances as of a Settlement Date, Agent shall, as part of the relevant Settlement, apply to such balance the portion
of payments actually received in good funds by Agent with respect to principal, interest, fees payable by Borrower and allocable to the Lenders hereunder, and proceeds of Collateral. To the extent that a net amount is owed to any such Lender after
such application, such net amount shall be distributed by Agent to that Lender as part of such next Settlement. 
 (iii)
Between Settlement Dates, Agent, to the extent no Agent Advances or Swing Loans are outstanding, may pay over to Swing Lender any payments received by Agent, that in accordance with the terms of this Agreement would be applied to the reduction of
the Advances, for application to Swing Lender’s Pro Rata Share of the Advances. If, as of any Settlement Date, Collections received since the then immediately preceding Settlement Date have been applied to Swing Lender’s Pro Rata Share of
the Advances other than to Swing Loans, as provided for in the previous sentence, Swing Lender shall pay to Agent for the accounts of the Lenders, and Agent shall pay to the Lenders, to be applied to the outstanding Advances of such Lenders, an
amount such that each Lender shall, upon receipt of such amount, have, as of such Settlement Date, its Pro Rata Share of the Advances. During the period between Settlement Dates, Swing Lender with respect to Swing Loans, Agent with respect to Agent
Advances, and each Lender (subject to the effect of letter agreements between Agent and individual Lenders) with respect to the Advances other than Swing Loans and Agent Advances, shall be entitled to interest at the applicable rate or rates payable
under this Agreement on the daily amount of funds employed by Swing Lender, Agent, or the Lenders, as applicable. 
 (g) Notation.
    Agent, as a non-fiduciary agent for Borrower, shall record on its books the principal amount of the Advances and stated interest owing to each Lender, including the Swing Loans owing to Swing Lender, and Agent Advances owing
to Agent, and the interests therein of each Lender, from time to time and such records shall, absent manifest error, conclusively be presumed to be correct and accurate. In addition, each Lender is authorized, at such Lender’s option, to note
the date and amount of each payment or prepayment of principal of such Lender’s Advances in its books and records, including computer records. 

(h) Lenders’ Failure to Perform.     All Advances (other than Swing Loans and Agent Advances) shall be made by
the Lenders contemporaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Advance (or other extension of
credit) hereunder, nor shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its obligations hereunder, and (ii) no failure by any Lender to perform its obligations hereunder
shall excuse any other Lender from its obligations hereunder. 

  
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 (i) Optional Overadvances.     Any contrary provision of this
Agreement notwithstanding, the Lenders hereby authorize Agent or Swing Lender, as applicable, and Agent or Swing Lender, as applicable, may, but is not obligated to, knowingly and intentionally, continue to make Advances (including Swing Loans) to
Borrower notwithstanding that an Overadvance exists or thereby would be created, so long as (i) after giving effect to such Advances (including a Swing Loan), the outstanding Revolver Usage does not exceed the Borrowing Base by more than ten
percent (10%) of the Borrowing Base, (ii) after giving effect to such Advances (including a Swing Loan), the outstanding Revolver Usage (except for and excluding amounts charged to the Loan Account for interest, fees, or Lender Group
Expenses) does not exceed the Maximum Revolver Amount, and (iii) at the time of the making of any such Advance (including any Swing Loan), Agent does not believe, in good faith, that the Overadvance created by such Advance will be outstanding
for more than 90 days. The foregoing provisions are for the exclusive benefit of Agent, Swing Lender, and the Lenders and are not intended to benefit Borrower in any way. The Advances and Swing Loans, as applicable, that are made pursuant to this
Section 2.2(i) shall be subject to the same terms and conditions as any other Advance or Swing Loan, as applicable, except that the rate of interest applicable thereto shall be the rate applicable to Advances under
Section 2.5(b) hereof without regard to the presence or absence of a Default or Event of Default. 
 (i)
In the event Agent obtains actual knowledge that the Revolver Usage exceeds the amounts permitted by the preceding paragraph, regardless of the amount of, or reason for, such excess, Agent shall notify Lenders as soon as practicable (and prior to
making any (or any additional) intentional Overadvances (except for and excluding amounts charged to the Loan Account for interest, fees, or Lender Group Expenses) unless Agent determines that prior notice would result in imminent harm to the
Collateral or its value), and the Lenders thereupon shall, together with Agent, jointly determine the terms of arrangements that shall be implemented with Borrower intended to reduce, within a reasonable time, the outstanding principal amount of the
Advances to Borrower to an amount permitted by the preceding paragraph. In the event Agent or any Lender disagrees over the terms of reduction or repayment of any Overadvance, the terms of reduction or repayment thereof shall be implemented
according to the determination of the Required Lenders. 
 (ii) Each Lender shall be obligated to settle with Agent as
provided in Section 2.2(f) for the amount of such Lender’s Pro Rata Share of any unintentional Overadvances by Agent reported to such Lender, any intentional Overadvances made as permitted under this Section 2.2(i), and
any Overadvances resulting from the charging to the Loan Account of interest, fees, or Lender Group Expenses. 
 2.3
Payments. 
 (a) Payments by Borrower. 

(i) Except as otherwise expressly provided herein, all payments by Borrower shall be made to Agent’s Account for the
account of the Lender Group and shall be made in immediately available funds, no later than 2:00 p.m. (New York time) on the date specified herein. Any payment received by Agent later than 2:00 p.m. (New York time) shall be deemed to have been
received on the following Business Day and any applicable interest or fee shall continue to accrue until such following Business Day. 

  
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 (ii) Unless Agent receives notice from Borrower prior to the date on which any
payment is due to the Lenders that Borrower will not make such payment in full as and when required, Agent may assume that Borrower has made (or will make) such payment in full to Agent on such date in immediately available funds and Agent may (but
shall not be so required), in reliance upon such assumption, distribute to each Lender on such due date an amount equal to the amount then due such Lender. If and to the extent Borrower does not make such payment in full to Agent on the date when
due, each Lender severally shall repay to Agent on demand such amount distributed to such Lender, together with interest thereon at the Defaulting Lender Rate for each day from the date such amount is distributed to such Lender until the date
repaid. 
 (b) Apportionment and Application of Payments. 

(i) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents
(including letter agreements between Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate
held by each Lender) and payments of fees and expenses (other than fees or expenses that are for Agent’s separate account, after giving effect to any letter agreements between Agent and individual Lenders) shall be apportioned ratably among the
Lenders having a Pro Rata Share of the type of Commitment or Obligation to which a particular fee relates. All payments shall be remitted to Agent and all such payments (other than payments received while no Event of Default has occurred and is
continuing and which relate to the payment of principal or interest of specific Obligations or which relate to the payment of specific fees payable to Agent or Lenders, in either case as specified by Borrower), and all proceeds of Accounts or other
Collateral received by Agent, shall be applied as follows: 
 (A) first, to pay on a ratable basis, until paid in full
any Collateral Custodian Fees then due to a Collateral Custodian (if one has been appointed) under its Collateral Custodian Agreement, 

(B) second, to pay the Servicing Fee of Servicer and, with respect to a successor Servicer, expenses and other amounts
due such successor Servicer, under the Sale and Servicing Agreement (provided, that with respect to the initial Servicer, such Fee shall only be paid so long as no Event of Default has occurred and is continuing), until paid in full, 

(C) third, to pay any Lender Group Expenses then due to Agent under the Loan Documents, until paid in full, 

(D) fourth, to pay any Lender Group Expenses then due to the Lenders under the Loan Documents, on a ratable basis, until
paid in full, 

  
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 (E) fifth, to pay any fees then due to Agent (for its separate account,
after giving effect to any letter agreements between Agent and individual Lenders) under the Loan Documents until paid in full, 

(F) sixth, to pay any fees then due to any or all of the Lenders (after giving effect to any letter agreements between
Agent and individual Lenders) under the Loan Documents, on a ratable basis, until paid in full, 
 (G) seventh, to pay
interest due in respect of all Agent Advances, until paid in full, 
 (H) eighth, ratably to pay interest due in
respect of the Advances (other than Agent Advances) and the Swing Loans until paid in full, 
 (I) ninth, to pay the
principal of all Agent Advances until paid in full, 
 (J) tenth, to pay the principal of all Swing Loans until paid
in full, 
 (K) eleventh, ratably 

(i) to pay the principal of all Advances until paid in full, 

(ii) ratably, up to the amount (after taking into account any amounts previously paid pursuant to this clause ii) of
the most recently established Bank Product Reserve Amount (but in no event in an amount in excess of (a) five percent (5%) of the Maximum Revolver Amount at such time, or (b) $15,000,000) to (y) the Bank Product Providers based
upon amounts then certified by the applicable Bank Product Provider to Agent (in form and substance satisfactory to Agent) to be due and payable to such Bank Product Providers on account of Bank Product Obligations, and (z) with any balance to
be paid to Agent, to be held by Agent, for the ratable benefit of the Bank Product Providers, as cash collateral (which cash collateral may be released by Agent to the applicable Bank Product Provider and applied by such Bank Product Provider to the
payment or reimbursement of any amounts due and payable with respect to Bank Product Obligations owed to the applicable Bank Product Provider as and when such amounts first become due and payable and, if and at such time as all such Bank Product
Obligations are paid or otherwise satisfied in full, the cash collateral held by Agent in respect of such Bank Product Obligations shall be reapplied pursuant to this Section 2.3(b)(i), beginning with tier (A) hereof, 

(L) twelfth, to pay any other Obligations other than Obligations owed to Defaulting Lenders, 

  
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 (M) thirteenth, ratably to pay any Obligations owed to Defaulting Lenders,
and 
 (N) fourteenth, to Borrower (to be wired to the Designated Account) or such other Person entitled thereto under
applicable law. 
 (ii) Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received
from each Lender in writing, such funds as it may be entitled to receive, subject to a Settlement delay as provided in Section 2.2(f). 

(iii) In each instance, so long as no Event of Default has occurred and is continuing, this Section 2.3(b) shall
not apply to any payment made by Borrower to Agent and specified by Borrower to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement. 

(iv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents
according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense
reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding. 

(v) In the event of a direct conflict between the priority provisions of this Section 2.3 and other provisions
contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of
any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 shall control and govern. 

2.4 Overadvances and Required Amortization Amount. 

(a) Overadvances.     If, at any time or for any reason, the amount of Obligations (other than Bank Product
Obligations) owed by Borrower to the Lender Group pursuant to Section 2.1 is greater than any of the limitations set forth in Section 2.1 (an “Overadvance”), except as otherwise permitted pursuant to
Section 2.2(i), Borrower immediately shall pay to Agent, in cash, the amount of such excess, which amount shall be used by Agent to reduce the Obligations in accordance with the priorities set forth in Section 2.3(b). All
Overadvances shall be treated as Base Rate Loans. In addition, Borrower hereby promises to pay the Obligations (including principal, interest, fees, costs, and expenses) in Dollars in full as and when due and payable under the terms of this
Agreement and the other Loan Documents. 
 (b) Required Amortization Amount.     If, as of the first day
of any month following the Amortization Commencement Date, the Amortization Commencement Date Principal Balance has not been reduced by at least the Required Amortization Amount as of such date, then Borrower immediately shall pay to Agent, in cash,
the amount of such shortfall, which amount shall be used by Agent to reduce the outstanding principal amount of the Amortization Commencement Date Principal Balance. 

  
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 2.5 Interest Rates: Rates, Payments, and Calculations. 

(a) Interest Rates.     Except as provided in Section 2.5(b) below, all Obligations (except for Bank
Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof as follows: 

(i) if the relevant Obligation is a LIBOR Rate Loan, at a per annum rate equal to (A) the LIBOR Rate plus
(B) the LIBOR Rate Margin, and 
 (ii) otherwise, at a per annum rate equal to (A) the Base Rate plus
(B) the Base Rate Margin. 
 (b) Default Rate.     Upon the occurrence and during the continuation of
an Event of Default (and at the election of Agent or the Required Lenders), all Obligations (except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance
thereof at a per annum rate equal to four percent (4.0%) above the per annum rate otherwise applicable hereunder to Base Rate Loans hereunder. 

(c) Payment.     Except to the extent, if any, provided to the contrary in Section 2.10 or
Section 2.12, interest and all other fees payable hereunder shall be due and payable, in arrears, (i) on the first day of each month at any time that Obligations or Commitments are outstanding, and (ii) on the Maturity Date.
Borrower hereby authorizes Agent, from time to time without prior notice to Borrower, to charge all interest and fees (when due and payable), all Lender Group Expenses (as and when incurred), the fees and costs provided for in
Section 2.10 (as and when accrued or incurred), and all other payments as and when due and payable under any Loan Document or any Bank Product Agreement (including any amounts due and payable to the Bank Product Providers in respect of
Bank Products up to the Bank Product Reserve Amount) to Borrower’s Loan Account, which amounts thereafter constitute Advances hereunder and shall accrue interest at the rate then applicable to Advances hereunder. Any interest not paid when due
shall be compounded by being charged to Borrower’s Loan Account and shall thereafter constitute Advances hereunder and shall accrue interest at the rate then applicable to Advances hereunder. 

(d) Computation.     All interest and fees chargeable under the Loan Documents shall be computed on the
basis of a 360-day year for the actual number of days elapsed. In the event the Base Rate is changed from time to time hereafter, the rates of interest hereunder based upon the Base Rate automatically and immediately shall be increased or decreased
by an amount equal to such change in the Base Rate. 
 (e) Intent to Limit Charges to Maximum Lawful Rate.
    In no event shall the interest rate or rates payable under this Agreement, plus any other amounts paid in connection herewith, exceed the highest rate permissible under any law that a court of competent jurisdiction shall, in
a final determination, deem applicable. Borrower and the Lender Group, in executing and delivering this Agreement, intend legally to agree upon the rate or rates of interest and manner of payment stated within it; provided, however,
that, anything contained herein to the contrary notwithstanding, if said rate or rates of interest or manner of payment exceeds the maximum allowable under applicable law, then, ipso facto, as of the date of this Agreement, 

  
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Borrower is and shall be liable only for the payment of such maximum as allowed by law, and payment received from Borrower in excess of such legal maximum, whenever received, shall be applied to
reduce the principal balance of the Obligations to the extent of such excess. 
 2.6 Cash Management. 

(a) Borrower shall and shall cause each of its Subsidiaries to, or shall cause Servicer to, (i) establish and maintain cash management
services of a type and on terms satisfactory to Agent at one or more of the banks set forth on Schedule 2.6(a) (each, a “Cash Management Bank”), and shall request in writing and otherwise take such reasonable steps to ensure
that all of Borrower’s and its Subsidiaries’ Account Debtors forward payment of the amounts owed by them directly to such Cash Management Bank, and (ii) deposit or cause to be deposited promptly, and in any event no later than the
first Business Day after the date of receipt thereof, all of their Collections (including those sent directly by their Account Debtors to Borrower or one of its Subsidiaries) into a bank account in Agent’s name (a “Cash Management
Account”) at one of the Cash Management Banks, (iii) cause all payments for each sale or other disposition of one or more Notes Receivable or payment in full of one or more Notes Receivable in connection with the refinancing of such
Note Receivable or the sale and release of the collateral securing such Note Receivable to be made by the escrow company, title insurance company or refinancing lender or purchaser directly to a Cash Management Account by wire transfer or check
drawn on the account of such escrow company or title insurance company or by cashier’s check, and (iv) until such time as a Cash Management Account is established, forward or cause to be forwarded no later than the first Business Day after
the date of receipt thereof, all of their Collections to Agent’s Account. Borrower shall, or shall cause Servicer to, request in writing and otherwise take such reasonable steps to ensure that all of Borrower’s and its Subsidiaries’
Account Debtors forward payment of the amounts owed by them to Borrower directly to a Cash Management Account. 
 (b) Each Cash Management
Bank shall establish and maintain Cash Management Agreements with Agent and Borrower, in form and substance acceptable to Agent. Each such Cash Management Agreement shall provide, among other things, that (i) the Cash Management Bank will
comply with any instructions originated by Agent directing the disposition of the funds in such Cash Management Account without further consent by Borrower or its Subsidiaries, as applicable, (ii) the Cash Management Bank has no rights of
setoff or recoupment or any other claim against the applicable Cash Management Account other than for payment of its service fees and other charges directly related to the administration of such Cash Management Account and for returned checks or
other items of payment, and (iii) it will forward, by an automatic daily sweep, all amounts in the applicable Cash Management Account to the Agent’s Account. 

(c) So long as no Default or Event of Default has occurred and is continuing, Borrower may amend Schedule 2.6(a) to add or replace a
Cash Management Bank or Cash Management Account; provided, however, that (i) such prospective Cash Management Bank shall be reasonably satisfactory to Agent and Agent shall have consented in writing in advance to the establishment
of such Cash Management Account with the prospective Cash Management Bank, and (ii) prior to the time of the opening of such Cash Management Account, Borrower (or its Subsidiary, as applicable) and such prospective Cash Management Bank shall
have executed 

  
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and delivered to Agent a Cash Management Agreement. Borrower (or its Subsidiaries, as applicable) shall close any of its Cash Management Accounts (and establish replacement cash management
accounts in accordance with the foregoing sentence) promptly and in any event within 30 days of notice from Agent that the creditworthiness of any Cash Management Bank is no longer acceptable in Agent’s reasonable judgment, or as promptly as
practicable and in any event within 60 days of notice from Agent that the operating performance, funds transfer, or availability procedures or performance of the Cash Management Bank with respect to Cash Management Accounts or Agent’s liability
under any Cash Management Agreement with such Cash Management Bank is no longer acceptable in Agent’s reasonable judgment. 
 (d) The
Cash Management Accounts shall be cash collateral accounts subject to Control Agreements, and Borrower hereby grants a Lien in all Cash Management Accounts to Agent to secure payment of the Obligations. 

2.7 Crediting Payments.     The receipt of any payment item by Agent (whether from transfers to Agent by the
Cash Management Banks pursuant to the Cash Management Agreements or otherwise) shall not be considered a payment on account unless such payment item is a wire transfer of immediately available federal funds made to the Agent’s Account or unless
and until such payment item is honored when presented for payment. Should any payment item not be honored when presented for payment, then Borrower shall be deemed not to have made such payment and interest shall be calculated accordingly. Anything
to the contrary contained herein notwithstanding, any payment item shall be deemed received by Agent only if it is received into the Agent’s Account on a Business Day on or before 2:00 p.m. (New York time). If any payment item is received into
the Agent’s Account on a non-Business Day or after 2:00 p.m. (New York time) on a Business Day, it shall be deemed to have been received by Agent as of the opening of business on the immediately following Business Day. 

2.8 Designated Account.     Agent is authorized to make the Advances under this Agreement based upon
telephonic or other instructions received from anyone purporting to be an Authorized Person or, without instructions, if pursuant to Section 2.5(c). Borrower agrees to establish and maintain the Designated Account with the Designated
Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrower and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Borrower, any Advance, Agent Advance, or Swing Loan requested by Borrower
and made by Agent or the Lenders hereunder shall be made to the Designated Account. 
 2.9 Maintenance of Loan Account;
Statements of Obligations.     Agent shall maintain an account on its books in the name of Borrower (the “Loan Account”) on which Borrower will be charged with all Advances (including Agent Advances and
Swing Loans) made by Agent, Swing Lender, or the Lenders to Borrower or for Borrower’s account, and with all other payment Obligations hereunder or under the other Loan Documents (except for Bank Product Obligations), including, accrued
interest, fees and expenses, and Lender Group Expenses. In accordance with Section 2.7, the Loan Account will be credited with all payments received by Agent from Borrower or for Borrower’s account, including all amounts received in
the Agent’s Account from any Cash Management Bank. Agent shall render statements regarding the Loan Account to Borrower, including principal, interest, fees, and including an itemization of all charges and expenses constituting Lender Group
Expenses owing, and such statements,  

  
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absent manifest error, shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrower and the Lender Group unless, within 30 days after receipt
thereof by Borrower, Borrower shall deliver to Agent written objection thereto describing the error or errors contained in any such statements. 

2.10 Fees.     Borrower shall pay to Agent the following fees and charges, which fees and charges shall be
non-refundable when paid (irrespective of whether this Agreement is terminated thereafter) and shall be apportioned among the Lenders in accordance with the terms of letter agreements between Agent and individual Lenders: 

(a) Unused Line Fee.     On the first day of each month, Borrower shall pay an unused line fee equal to
(i) the amount by which (A) the Maximum Revolver Amount then in effect exceeds (B) the average Daily Balance of Advances that were outstanding during the immediately preceding month, or portion thereof during which the Revolving
Credit Availability Period was in effect, multiplied by (ii) (A) if the average Daily Balance of Advances that were outstanding during such month, or portion thereof during which the Revolving Credit Availability Period was in
effect, was equal to or less than fifty percent (50%) of the average Maximum Revolver Amount in effect during such month, then one-half of one percent (0.50%) per annum, (B) if the average Daily Balance of Advances that were outstanding
during such month, or portion thereof during which the Revolving Credit Availability Period was in effect, was greater than fifty percent (50%), but equal to or less than eighty percent (80%), of the average Maximum Revolver Amount in effect during
such month, then three-eighths of one percent (0.375%) per annum, and (C) if the average Daily Balance of Advances that were outstanding during such month, or portion thereof during which the Revolving Credit Availability Period was in effect,
was greater than eighty percent (80%) of the average Maximum Revolver Amount in effect during such month, then zero (0). 
 (b)
Fee Letter Fees.     As and when due and payable under the terms of the Fee Letter, Borrower shall pay to Agent the fees set forth in the Fee Letter. 

(c) Audit, Appraisal, and Valuation Charges.     For the separate account of Agent, Borrower shall pay to
Agent audit, appraisal, and valuation fees and charges as follows (i) a fee of $1,200 per day, per auditor, plus out-of-pocket expenses for each financial or collateral audit of Borrower performed by personnel employed by Agent, (ii) a fee
of $1,000 per day, per applicable individual, plus out of pocket expenses for the establishment of electronic collateral reporting systems, if requested by Agent, (iii) a fee of $1,500 per day per appraiser, plus out-of-pocket expenses, for
each appraisal of the Collateral, or any portion thereof, performed by personnel employed by Agent, and (iv) the actual charges paid or incurred by Agent if it elects to employ the services of one or more third Persons to perform financial or
collateral audits of Borrower or its Subsidiaries, to establish electronic collateral reporting systems, to appraise the Collateral or any portion thereof, or to assess Borrower’s or its Subsidiaries’ procedures or business valuation;
provided that so long as no Event of Default has occurred and is continuing, Borrower will not be charged for more than three (3) financial or collateral audits in any twelve-month period. 

2.11 Capital Requirements.     If, after the date hereof, any Lender determines that (i) any Change in
Law regarding capital requirements for banks or bank holding companies, or  

  
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any change in the interpretation or application thereof by any Governmental Authority charged with the administration thereof, or (ii) compliance by such Lender or its parent bank holding
company with any guideline, request, or directive of any such entity regarding capital adequacy (whether or not having the force of law), has the effect of reducing the return on such Lender’s or such holding company’s capital as a
consequence of such Lender’s Commitments hereunder to a level below that which such Lender or such holding company could have achieved but for such Change in Law or compliance (taking into consideration such Lender’s or such holding
company’s then existing policies with respect to capital adequacy and assuming the full utilization of such entity’s capital) by any amount deemed by such Lender to be material, then such Lender may notify Borrower and Agent thereof.
Following receipt of such notice, Borrower agrees to pay such Lender on demand the amount of such reduction of return of capital as and when such reduction is determined, payable within 90 days after presentation by such Lender of a statement in the
amount and setting forth in reasonable detail such Lender’s calculation thereof and the assumptions upon which such calculation was based (which statement shall be deemed true and correct absent manifest error). In determining such amount, such
Lender may use any reasonable averaging and attribution methods. Failure or delay on the part of any Lender to demand compensation pursuant to this Section shall not constitute a waiver of such Lender’s right to demand such compensation;
provided that Borrower shall not be required to compensate a Lender pursuant to this Section for any reductions in return incurred more than 180 days prior to the date that such Lender notifies Borrower of such Change in Law giving rise to
such reductions and of such Lender’s intention to claim compensation therefor; provided further that if such claim arises by reason of the Change in Law that is retroactive, then the 180-day period referred to above shall be
extended to include the period of retroactive effect thereof. 
 2.12 LIBOR Option. 

(a) LIBOR Election.     So long as no Event of Default has occurred and is continuing, Borrower may, by
notifying Agent prior to 1:00 p.m. (New York time) at least three (3) Business Days prior to the commencement of an Interest Period (the “LIBOR Deadline”), elect to exercise Borrower’s option (the “LIBOR
Option”) to have interest on all of the Advances (other than Advances with respect to Swing Loans, Agent Advances and Overadvances) determined for such Interest Period by reference to the LIBOR Rate. Notice of Borrower’s election of
the LIBOR Option for any Interest Period shall be made by delivery by Borrower to Agent of a LIBOR Notice received by Agent before the LIBOR Deadline, or by telephonic notice to Agent by Borrower received by Agent before the LIBOR Deadline (to be
confirmed by delivery to Agent of a LIBOR Notice received by Agent prior to 5:00 p.m. (New York time) on the same day). Each LIBOR Notice shall be irrevocable and binding on Borrower. Promptly upon its receipt of any LIBOR Notice, Agent shall
provide a copy thereof to each of the Lenders. Notwithstanding the foregoing, if Borrower has not exercised the LIBOR Option in accordance with this Section 2.12 prior to the LIBOR Deadline for an Interest Period, then interest on all of
the Advances eligible to have interest determined by reference to the LIBOR Rate (including the Advances that were treated as LIBOR Rate Loans during the immediately preceding Interest Period) shall be determined for such Interest Period by
reference to the LIBOR Rate unless Borrower has notified Lender prior to 1:00 p.m. (New York time) at least three (3) Business Days prior to the commencement of an Interest Period that it elects interest on such Advances to accrue by reference
to the Base Rate. At any time that an Event of Default has occurred and is continuing, Borrower no longer shall have the option to request that Advances bear interest  

  
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determined by reference to the LIBOR Rate, and Lender shall have the right to convert the interest rate on all outstanding LIBOR Rate Loans to the rate then applicable to Base Rate Loans
hereunder for the remainder of such Interest Period. 
 (b) Base Rate Loans in Absence of LIBOR Election Availability.
    If Borrower is not entitled to exercise the LIBOR Option for such Interest Period, then interest on all of the Advances (including Advances that were treated as LIBOR Rate Loans during the immediately preceding Interest
Period) shall be determined for such Interest Period by reference to the Base Rate. 
 (c) Special Provisions Applicable to LIBOR
Rate. 
 (i) The LIBOR Rate may be adjusted by Agent with respect to any Lender on a prospective basis to take into
account any additional or increased costs to such Lender of maintaining or obtaining any eurodollar deposits or increased costs, in each case, due to changes in applicable law occurring subsequent to the commencement of the then applicable Interest
Period, including changes in tax laws (except changes of general applicability in corporate income tax laws) and changes in the reserve requirements imposed by the Board of Governors of the Federal Reserve System (or any successor), excluding the
Reserve Percentage, which additional or increased costs would increase the cost of funding or maintaining loans bearing interest by reference to the LIBOR Rate. In any such event, the affected Lender shall give Borrower and Agent notice of such a
determination and adjustment and Agent promptly shall transmit the notice to each other Lender and, upon its receipt of the notice from the affected Lender, Borrower may, by notice to such affected Lender (A) require such Lender to furnish to
Borrower a statement setting forth the basis for adjusting such LIBOR Rate and the method for determining the amount of such adjustment, or (B) repay (or convert to Base Rate Loans) the LIBOR Rate Loans with respect to which such adjustment is
made. 
 (ii) In the event that any change in market conditions or any Change in Law shall at any time after the date hereof,
in the reasonable opinion of any Lender, make it unlawful or impractical for such Lender to fund or maintain LIBOR Rate Loans or to continue such funding or maintaining, or to determine or charge interest rates by reference to the LIBOR Rate, such
Lender shall give notice of such changed circumstances to Agent and Borrower, and Agent promptly shall transmit the notice to each other Lender and (A) in the case of any LIBOR Rate Loans of such Lender that are outstanding, the date specified
in such Lender’s notice shall be deemed to be the last day of the Interest Period of such LIBOR Rate Loans, and interest upon the LIBOR Rate Loans of such Lender thereafter shall accrue interest at the rate then applicable to Base Rate Loans,
and (B) thereafter, all Advances of such Lender shall be deemed to be Base Rate Loans until such Lender determines that it would no longer be unlawful or impractical to do so. 

(d) No Requirement of Matched Funding.     Anything to the contrary contained herein notwithstanding,
neither Agent, nor any Lender, nor any of their Participants, is required actually to acquire eurodollar deposits to fund or otherwise match fund any Advance as to which interest accrues by reference to the LIBOR Rate. 

  
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 2.13 Restatement of Obligations.     Borrower, Lenders and
Agent hereby acknowledge and agree that upon satisfaction or waiver in writing of all conditions precedent set forth in Section 3.1:  

(a) this Agreement shall amend, restate and supersede in its entirety the Original Loan Agreement; 

(b) those other Loan Documents that amend and restate any of the Original Loan Documents shall amend, restate and supersede such other
Original Loan Documents in accordance with the terms of such Loan Documents; 
 (c) those Original Loan Documents that are not being amended
and restated or canceled by the Loan Documents shall remain in full force and effect; 
 (d) the Loan Documents do not constitute an accord
and satisfaction or a novation of the obligations of Borrower under the Original Loan Agreement and the other Original Loan Documents; 

(e) the outstanding “Advances” under the Original Loan Agreement shall become Advances under this Agreement; 

(f) the outstanding “Obligations” under the Original Loan Agreement in existence or accrued through the Closing Date shall become
Obligations under this Agreement; 
 (g) the Agent’s Liens granted under the Original Loan Documents will continue to secure the
Obligations under this Agreement and the other Loan Documents; 
 (h) (i) amounts in respect of interest, fees, and other amounts payable to
or for the account of Lenders or Agent shall be calculated in accordance with the provisions of the Original Loan Agreement with respect to any period (or portion thereof) ending prior to the Closing Date, and (ii) amounts in respect of
interest, fees, and other amounts payable to or for the account of Lenders or Agent shall be calculated in accordance with this Agreement with respect to any period (or portion thereof) commencing on or after the Closing Date; and 

(i) except as specifically waived under the Original Loan Documents Waiver Letter, no “Default” or “Event of Default” that
has occurred and is continuing under the Original Loan Documents immediately prior to the occurrence of the Closing Date shall be or be deemed to be waived or cured by the execution of this Agreement or the occurrence of the Closing Date. 

 

	3.	CONDITIONS; TERM OF AGREEMENT. 

 3.1 Conditions Precedent to the Initial Extension
of Credit.     The amendment and restatement of the Original Loan Agreement (including the “Advances” under the Original Loan Agreement becoming Advances hereunder) and the obligation of each Lender to make its
initial extension of credit hereunder shall be deemed to be effective as of the Closing Date upon the fulfillment, to the satisfaction of Agent and each Lender (the making of such initial extension of credit by a Lender being conclusively deemed to
be its satisfaction or waiver of the following), of each of the following conditions precedent: 

  
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 (a) Agent shall have received each of the following documents, in form and substance satisfactory
to Agent, duly executed, and each such document shall be in full force and effect: 
 (i) the Closing Certificates, 

(ii) the Sale and Servicing Agreement, and 

(iii) the Omnibus Amendment and Reaffirmation; 

(b) Agent shall have received copies of Borrower’s and HTGC’s Governing Documents, as amended, modified, or supplemented to the
Closing Date, certified by the Secretary or Assistant Secretary of such Person or the Manager of such Person, as applicable; 
 (c) Agent
shall have received certificates of status with respect to Borrower and HTGC, dated within 10 days of the Closing Date, such certificate to be issued by the appropriate officer of the jurisdiction of organization of such Person, which certificate
shall indicate that such Person is in good standing in such jurisdiction; 
 (d) Agent shall have received certificates of status with
respect to Borrower and HTGC, each dated within 30 days of the Closing Date, such certificates to be issued by the appropriate officer of the jurisdictions (other than the jurisdiction of organization of such Person) in which its failure to be duly
qualified or licensed would constitute a Material Adverse Change, which certificates shall indicate that such Person is in good standing in such jurisdictions; 

(e) Agent shall have received a certificate of insurance, together with the endorsements thereto, as are required by Section 6.8,
the form and substance of which shall be satisfactory to Agent; 
 (f) Agent shall have received a certificate from the chief financial
officer or chief executive officer of Borrower, certifying (i) as to the truth and accuracy of the representations and warranties of Borrower contained in Section 5 of this Agreement, (ii) the absence of any Defaults or Events
of Default, and (iii) that after giving effect to the incurrence of Indebtedness under this Agreement and the other transactions contemplated by this Agreement, Borrower is Solvent; 

(g) Agent shall have completed its updated business, legal, and collateral due diligence, including a review of the legal structure of
Borrower, HTGC and their Affiliates, a collateral audit and review of the books and records of Borrower and HTGC and any of their Affiliates with business operations similar to those of Borrower, a review of their collateral valuation methods,
verification of each of such Person’s representations and warranties to the Lender Group, and verification of third-party service providers, in each case, the results of which shall be satisfactory to Agent; 

(h) Agent shall have received completed reference checks with respect to HTGC, Borrower, Manuel A. Henriquez, Robert Lake, and Andrew Olson,
the results of which are satisfactory to Agent in its sole discretion; 

  
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 (i) Borrower shall pay all Lender Group Expenses incurred in connection with the transactions
evidenced by this Agreement; 
 (j) with respect to each Eligible Note Receivable as of the making of the initial Advance, Agent or the
Collateral Custodian (if one has been appointed) shall be in possession of all of the Required Asset Documents; 
 (k) Agent shall have
received and approved Borrower’s Required Procedures, which Borrower’s Required Procedures shall be consistent with those previously represented to Agent and shall be acceptable to Agent in its sole discretion; 

(l) Agent shall have received evidence satisfactory to Agent either that any Person having a Lien (except for Permitted Liens, if any) with
respect to the assets of Borrower shall have released such Lien or that such Lien shall be automatically terminated upon the funding of the Advances to be made on the Closing Date; 

(m) Borrower and HTGC shall have received all licenses, approvals or evidence of other actions required by any Governmental Authority in
connection with the execution and delivery by Borrower or HTGC of the Loan Documents or with the consummation of the transactions contemplated thereby; 

(n) Agent shall have received satisfactory evidence that as of the Closing Date and after giving effect to the initial Advance and the
continuation of all “Advances” outstanding under the Original Loan Agreement immediately before the effectiveness of this Agreement as Advances hereunder, (i) Borrower, on a consolidated basis with its Subsidiaries, has a sum of
(A) Tangible Net Worth, plus (B) Subordinated Debt, of not less than the sum of (I) the lesser of (x) the sum of the outstanding principal amounts of Borrower’s three largest Notes Receivable, and
(y) $25,000,000, plus (II) any positive amount of cumulative capital contributions made to Borrower from and after the Closing Date, and (ii) HTGC, on a consolidated basis with its Subsidiaries, has a sum of (A) Tangible Net
Worth, plus (B) Subordinated Debt, of not less than the sum of (I) $500,000,000, plus (II) ninety percent (90%) of the cumulative amount of equity raised by HTGC after June 30, 2014; 

(o) Agent’s counsel shall have received and reviewed all standard documentation evidencing, governing, securing and guaranteeing Notes
Receivable, and been satisfied such documentation provides Borrower and Agent with appropriate rights and remedies to enforce any necessary collection actions with respect to such Notes Receivable; and 

(p) all other documents and legal matters in connection with the transactions contemplated by this Agreement shall have been delivered,
executed, or recorded and shall be in form and substance satisfactory to Agent. 
 3.2 Conditions Subsequent to the Initial Extension
of Credit.     The obligation of the Lender Group (or any member thereof) to continue to make Advances (or otherwise extend credit hereunder) is subject to the fulfillment, on or before the date applicable thereto, of
each of the following conditions subsequent (any failure by Borrower to satisfy or cause the satisfaction of each of such conditions subsequent constituting an Event of Default): 

  
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 (a) [RESERVED] 

3.3 Conditions Precedent to all Extensions of Credit.     The obligation of the Lender Group (or any member
thereof) to make any Advances hereunder at any time (or to extend any other credit hereunder), including the initial Advance, shall be subject to the following conditions precedent: 

(a) the representations and warranties contained in this Agreement and the other Loan Documents shall be true and correct in all material
respects on and as of the date of such extension of credit, as though made on and as of such date (except to the extent that such representations and warranties relate solely to an earlier date); 

(b) no Default or Event of Default shall have occurred and be continuing on the date of such extension of credit, nor shall either result from
the making thereof; 
 (c) no injunction, writ, restraining order, or other order of any nature restricting or prohibiting, directly or
indirectly, the extending of such Advance shall have been issued and remain in force by any Governmental Authority against Borrower, Agent, any Lender, or any of their respective Affiliates; 

(d) no Material Adverse Change shall have occurred, 

(e) on or before the day preceding the date of such Advance, Borrower shall have delivered to Agent or Collateral Custodian (if one has been
appointed) pursuant to this Agreement and the Sale and Servicing Agreement, with respect to each Note Receivable to be acquired or funded with any portion of such Advance, the originals of each of the Required Asset Documents; and 

(f) Agent shall have received a current Borrowing Base Certificate. 

3.4 Term.     This Agreement shall continue in full force and effect for a term commencing on the Closing
Date and ending one year after the Amortization Commencement Date (the “Maturity Date”). The foregoing notwithstanding, the Lender Group, upon the election of the Required Lenders, shall have the right to terminate its obligations
under this Agreement immediately and without notice upon the occurrence and during the continuation of an Event of Default. 
 3.5
Effect of Termination.     On the Maturity Date or earlier termination of this Agreement in accordance with its terms, all of the Obligations immediately shall become due and payable without notice or demand and
Borrower shall be required to repay all of the Obligations in full. No termination of this Agreement, however, shall relieve or discharge Borrower or its Subsidiaries, or HTGC, of their respective duties, Obligations, or covenants hereunder or under
any other Loan Documents and the Agent’s Liens in the Collateral shall remain in effect until all Obligations have been paid in full and the Lender Group’s obligations to provide additional credit hereunder have been terminated. When this
Agreement has been terminated and all of the Obligations have been paid in full and the Lender Group’s obligations to provide additional credit under the Loan Documents have been terminated irrevocably, Agent will, at Borrower’s sole
expense, execute and deliver, or authorize the filing of, any termination  

  
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statements, lien releases, mortgage releases, re-assignments of trademarks, discharges of security interests, and other similar discharge or release documents (and, if applicable, in recordable
form) as are reasonably necessary to release, as of record, the Agent’s Liens and all notices of security interests and liens previously filed by Agent with respect to the Obligations. 

3.6 Early Termination by Borrower.     Borrower has the option, at any time upon ninety (90) days prior
written notice to Agent, to terminate this Agreement by repaying to Agent all of the Obligations in full. If Borrower has sent a notice of termination pursuant to the provisions of this Section 3.6, then the Commitments shall terminate
and Borrower shall be obligated to repay the Obligations in full, on the date set forth as the date of termination of this Agreement in such notice. In the event of the termination of this Agreement and repayment of the Obligations at any time prior
to the Maturity Date, for any other reason, including (a) termination upon the election of the Required Lenders to terminate after the occurrence and during the continuation of an Event of Default, (b) foreclosure by Agent or Lenders and
sale of Collateral, (c) sale of the Collateral in any Insolvency Proceeding of Borrower, or (d) restructure, reorganization, or compromise of the Obligations by the confirmation of a plan of reorganization or any other plan of compromise,
restructure, or arrangement in any Insolvency Proceeding of Borrower, then, in view of the impracticability and extreme difficulty of ascertaining the actual amount of damages to the Lender Group or profits lost by the Lender Group as a result of
such early termination, and by mutual agreement of the parties as to a reasonable estimation and calculation of the lost profits or damages of the Lender Group, Borrower shall pay to Agent, in cash, for the ratable benefit of Lenders, the Applicable
Prepayment Premium, if any, determined as of such date. For purposes of this Agreement, “Applicable Prepayment Premium” means, as of any date of determination, an amount equal to (a) during the period starting on the Closing
Date and ending on July 31, 2015, three percent (3.00%) multiplied by the Maximum Revolver Amount on such date, (b) during the period starting on August 1, 2015 and ending on July 31, 2016, two percent
(2.00%) multiplied by the Maximum Revolver Amount on such date, (c) during the period starting on August 1, 2016 and ending on January 31, 2017, one percent (1.00%) multiplied by the Maximum Revolver Amount on
such date, and (d) thereafter, zero dollars ($0.00). 
  

	4.	CREATION OF SECURITY INTEREST. 

 4.1 Grant of Security Interest.
    Borrower hereby grants to Agent, for the benefit of the Lender Group and the Bank Product Providers, a continuing security interest in all of Borrower’s right, title, and interest in all currently existing and hereafter
acquired or arising Borrower Collateral in order to secure prompt repayment of any and all of the Obligations in accordance with the terms and conditions of the Loan Documents and in order to secure prompt performance by Borrower of each of its
covenants and duties under the Loan Documents. The Agent’s Liens in and to the Borrower Collateral shall attach to all Borrower Collateral without further act on the part of Agent or Borrower. Anything contained in this Agreement or any other
Loan Document to the contrary notwithstanding, except for Permitted Dispositions, Borrower and its Subsidiaries have no authority, express or implied, to dispose of any item or portion of the Collateral. 

4.2 Negotiable Collateral.     In the event that any Borrower Collateral, including proceeds, is evidenced
by or consists of Negotiable Collateral other than Notes Receivable  

  
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previously delivered to and being held by the Agent or a Collateral Custodian (if one has been appointed), and if and to the extent that Agent determines that perfection or priority of
Agent’s security interest is dependent on or enhanced by possession, Borrower, promptly upon the request of Agent, shall endorse and deliver physical possession of such Negotiable Collateral and all agreements and documents related thereto to
Agent. All Notes Receivable shall be delivered to Agent or a Collateral Custodian (if one has been appointed) pursuant to this Agreement and the Sale and Servicing Agreement to hold for the benefit of Agent and Lenders, duly endorsed in blank or as
follows on the back of the signature page thereof or on a separate allonge affixed thereto: 
 “Pay to the Order of Wells Fargo Capital
Finance, LLC, as Agent, without recourse 
  

					
			HERCULES FUNDING II LLC
			
			By:		  

		
			Name:
		
			Its: [Authorized Person].”

 4.3 Collection of Accounts, General Intangibles, and Negotiable Collateral.
    At any time after the occurrence and during the continuation of an Event of Default, Agent or Agent’s designee may (a) notify Account Debtors of Borrower and makers of Notes Receivable that the Accounts, Notes
Receivable, chattel paper, or General Intangibles have been assigned to Agent or that Agent has a security interest therein, (b) cause a replacement servicer to take possession of, and collect, Borrower’s Accounts, or (c) collect
Borrower’s Accounts, Notes Receivable, chattel paper, or General Intangibles directly and charge the collection costs and expenses to the Loan Account. Borrower agrees that it will hold in trust for the Lender Group, as the Lender Group’s
trustee, any of its or its Subsidiaries’ Collections that it receives and immediately will deliver such Collections to Servicer pursuant to the Sale and Servicing Agreement or, at the request of Agent, to Agent or a Cash Management Bank, in
each case in their original form as received by Borrower or its Subsidiaries. 
 4.4 Filing of Financing Statements; Commercial
Tort Claims; Delivery of Additional Documentation Required. 
 (a) Borrower authorizes Agent to file any financing statement
necessary or desirable to effectuate the transactions contemplated by the Loan Documents, and any continuation statement or amendment with respect thereto, in any appropriate filing office without the signature of Borrower where permitted by
applicable law. Borrower hereby ratifies the filing of any financing statement filed without the signature of Borrower prior to the date hereof. 

(b) If Borrower or its Subsidiaries acquire any commercial tort claims after the date hereof, Borrower shall promptly (but in any event within
three (3) Business Days after such acquisition) deliver to Agent a written description of such commercial tort claim and shall deliver a written agreement, in form and substance satisfactory to Agent, pursuant to which Borrower or its
Subsidiary, as applicable, shall grant a perfected security interest in all of its right, title and interest in and to such commercial tort claim to Agent, as security for the Obligations (a “Commercial Tort Claim Assignment”). 

  
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 (c) At any time upon the request of Agent, Borrower shall execute or deliver to Agent, and shall
cause its Subsidiaries to execute or deliver to Agent, any and all fixture filings, security agreements, pledges, assignments, Commercial Tort Claim Assignments, endorsements of certificates of title, and all other documents (collectively, the
“Additional Documents”) that Agent may request in its Permitted Discretion, in form and substance satisfactory to Agent, to create, perfect, and continue perfected or to better perfect the Agent’s Liens in the assets of
Borrower and its Subsidiaries (whether now owned or hereafter arising or acquired, tangible or intangible, real or personal), to create and perfect Liens in favor of Agent in any owned Real Property acquired after the Original Closing Date, and in
order to fully consummate all of the transactions contemplated hereby and under the other Loan Documents. To the maximum extent permitted by applicable law, Borrower authorizes Agent to execute any such Additional Documents in Borrower’s name
and authorizes Agent to file such executed Additional Documents in any appropriate filing office. In addition, on such periodic basis as Agent shall require, Borrower shall (i) provide Agent with a report of all new material patentable,
copyrightable, or trademarkable materials acquired or generated by Borrower or its Subsidiaries during the prior period, (ii) cause all material patents, copyrights, and trademarks acquired or generated by Borrower or its Subsidiaries that are
not already the subject of a registration with the appropriate filing office (or an application therefor diligently prosecuted) to be registered with such appropriate filing office in a manner sufficient to impart constructive notice of
Borrower’s or the applicable Subsidiary’s ownership thereof, and (iii) cause to be prepared, executed, and delivered to Agent supplemental schedules to the applicable Loan Documents to identify such patents, copyrights, and trademarks
as being subject to the security interests created thereunder; provided, however, that neither Borrower nor any of its Subsidiaries shall register with the U.S. Copyright Office any unregistered copyrights (whether in existence on the
Original Closing Date or thereafter acquired, arising, or developed) unless (i) the Borrower provides Agent with written notice of its intent to register such copyrights not less than 30 days prior to the date of the proposed registration, and
(ii) prior to such registration, the applicable Person executes and delivers to Agent a copyright security agreement in form and substance satisfactory to Agent, supplemental schedules to any existing copyright security agreement, or such other
documentation as Agent reasonably deems necessary in order to perfect and continue perfected Agent’s Liens on such copyrights following such registration. 

(d) Borrower hereby assigns to Agent any and all rights of Borrower to access any and all storage facilities where any Collateral or
information relating to Collateral may be stored and Borrower hereby authorizes Agent, at any time after the occurrence and during the continuation of an Event of Default, to enter upon any such storage facilities and remove any contents thereof in
connection with Agent’s exercise of its remedies hereunder. 
 4.5 Power of Attorney.     Borrower
hereby irrevocably makes, constitutes, and appoints Agent (and any of Agent’s officers, employees, or agents designated by Agent) as Borrower’s true and lawful attorney, with power to (a) if Borrower refuses to, or fails timely to
execute and deliver any of the documents described in Section 4.4, sign the name of Borrower on any of the documents described in Section 4.4, (b) at any time that an Event of Default has occurred and is continuing, sign
Borrower’s name on any invoice or bill of lading relating to the  

  
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Collateral, drafts against Account Debtors, or notices to Account Debtors, (c) send requests or make telephone inquiries for verification of Borrower’s or its Subsidiaries’
Accounts or Notes Receivable, (d) endorse Borrower’s name on any of its payment items (including all of its Collections) that may come into the Lender Group’s possession, (e) at any time that an Event of Default has occurred and
is continuing, make, settle, and adjust all claims under Borrower’s policies of insurance and make all determinations and decisions with respect to such policies of insurance, and (f) at any time that an Event of Default has occurred and
is continuing, settle and adjust disputes and claims respecting Borrower’s or its Subsidiaries’ Accounts, Notes Receivable, chattel paper, or General Intangibles directly with Account Debtors or makers of Notes Receivable, for amounts and
upon terms that Agent determines to be reasonable, in Agent’s Permitted Discretion, and Agent may cause to be executed and delivered any documents and releases that Agent determines to be necessary. The appointment of Agent as Borrower’s
attorney, and each and every one of its rights and powers, being coupled with an interest, is irrevocable until all of the Obligations have been fully and finally repaid and performed and the Lender Group’s obligations to extend credit
hereunder are terminated. 
 4.6 Right to Inspect and Verify.     Agent (through any of its officers,
employees, or agents) shall have the right, from time to time hereafter (i) to inspect the Books and make copies or abstracts thereof, (ii) to communicate directly with any and all Account Debtors and makers of Notes Receivable to verify
the existence and terms thereof (provided, that so long as no Event of Default has occurred and is continuing, Agent shall notify Borrower prior to communicating directly with an Account Debtor or maker of Notes Receivable), and (iii) to check,
test, and appraise the Collateral, or any portion thereof, in order to verify Borrower’s and its Subsidiaries’ financial condition or the amount, quality, value, condition of, or any other matter relating to, the Collateral; and Borrower
shall permit any designated representative of Agent to visit and inspect any of the properties of the Borrower to inspect and to discuss its finances and properties and Collateral, upon reasonable notice and at such reasonable times during normal
business hours. 
 4.7 Control Agreements.     Borrower agrees that it will and will cause its
Subsidiaries to take any or all reasonable steps in order for Agent to obtain control in accordance with Sections 8-106, 9-104, 9-105, 9-106, and 9-107 of the Code with respect to all of its or their Securities Accounts, Deposit Accounts, electronic
chattel paper, Investment Property, and letter-of-credit rights. Upon the occurrence and during the continuance of an Event of Default, Agent may notify any bank or securities intermediary to liquidate the applicable Deposit Account or Securities
Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to Agent’s Account. 

4.8 Servicing of Notes Receivable.     Until such time as Agent shall notify the Borrower of the revocation
of such right after the occurrence and during the continuation of an Event of Default, the Borrower (a) shall, at its own expense (including through the application of available funds pursuant to Section 2.3(b)), cause the Servicer
to service all of the Notes Receivable, including, without limitation, (i) the billing, posting and maintaining complete records applicable thereto, and (ii) taking of such action with respect to the Notes Receivable as the Borrower may
deem advisable, and (b) may grant, in the ordinary course of business, to any maker of a Note Receivable, any adjustment to which such maker may be lawfully entitled, and may take such other actions relating to the settling of any such
maker’s claims as may be commercially reasonable, but in each case in accordance with Borrower’s Required Procedures.  

  
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Agent may, at its option, at any time or from time to time, after the occurrence and during the continuation of an Event of Default hereunder, revoke the collection and servicing rights given to
Borrower herein by giving notice to Borrower in accordance with the terms of the Sale and Servicing Agreement. 
 4.9 Release of Notes
Receivable. 
 (a) When a Note Receivable that is in the possession of Agent or the Collateral Custodian is repaid in its
entirety, Agent shall return or shall authorize the Collateral Custodian to return such Note Receivable to Borrower to facilitate its payment and Agent shall release Agent’s Liens in such Note Receivable promptly upon receipt of the final
payment relating to such Note Receivable. 
 (b) When a Note Receivable is sold by Borrower in accordance with the terms of this Agreement,
Agent shall release Agent’s Liens in such Note Receivable and if such Note Receivable is in the possession of Agent or the Collateral Custodian, Agent shall transfer or shall authorize the Collateral Custodian to transfer such Note Receivable
to the purchaser thereof or as otherwise directed by such purchaser against payment of the agreed amount therefor. 
 (c) In the event
Borrower’s collateral assignment to Agent of any mortgage and loan documents relating to a Note Receivable has been recorded and such Note Receivable is (i) repaid in its entirety, (ii) sold by Borrower in accordance with the terms of
this Agreement or (iii) in default and Borrower is commencing foreclosure proceedings against the Note Receivable Collateral securing such Note Receivable, then Agent shall, at Borrower’s sole expense, execute a reassignment or release of
such mortgage and loan documents for the benefit of Borrower on forms prepared by Borrower and reasonably acceptable to Agent. 
  

	5.	REPRESENTATIONS AND WARRANTIES. 

 In order to induce the Lender Group to enter into this
Agreement, Borrower makes the following representations and warranties to the Lender Group which shall be true, correct, and complete, in all material respects, as of the date hereof, and shall be true, correct, and complete, in all material
respects, as of the Closing Date, and as of the date of the making of each Advance (or other extension of credit) made thereafter, as though made on and as of the date of such Advance (or other extension of credit) (except to the extent that such
representations and warranties relate solely to an earlier date) and such representations and warranties shall survive the execution and delivery of this Agreement: 

5.1 No Encumbrances.     Borrower and its Subsidiaries have good and indefeasible title to, or a valid
leasehold interest in, their personal property assets and good and marketable title to, or a valid leasehold interest in, their Real Property, in each case, free and clear of Liens except for Permitted Liens. 

5.2 Eligible Notes Receivables.     As to each Note Receivable that is identified by Borrower as an Eligible
Note Receivable in the most recent Borrowing Base Certificate submitted to Agent, as of the date of such certificate: (a) such Note Receivable is a bona fide existing payment obligation of the maker of such Note Receivable created in the
ordinary course of Borrower’s business, (b) such Note Receivable has transferred by sale or contribution to, and  

  
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is now owed to Borrower without any known defenses, disputes, offsets, counterclaims, or rights of cancellation, (c) such Note Receivable is not excluded as ineligible by virtue of one or
more of the excluding criteria set forth in the definition of Eligible Notes Receivable, (d) the original amount of, the unpaid balance of, and the amount and dates of payments on such Note Receivable shown on the Books of Borrower and in the
schedules of same delivered to Agent are true and correct, (e) Borrower has no knowledge of any fact which is reasonably likely to impair the validity or collectability of such Note Receivable, (f) such Note Receivable is subject to a
first-priority or second-priority security interest, as applicable, in favor of Agent, (g) such Note Receivable and all collateral therefor complies with all applicable laws, and (h) since delivery to Agent, such Note Receivable has not
been amended nor any requirements relating thereto waived without the prior written consent of Agent, other than an extension or modification in accordance with Borrower’s Required Procedures then in effect. 

5.3 Equipment.     All of the Equipment of Borrower and its Subsidiaries is used or held for use in their
business and is fit for such purposes. 
 5.4 Location of Collateral.     The Borrower Collateral
(other than the Collateral in the possession of Agent or Collateral Custodian) is not stored with a bailee, warehouseman, or similar party and is located only at, or in-transit between, the locations identified on Schedule 5.4 (as such
Schedule may be updated pursuant to Section 6.9); provided, that loan files that do not include original promissory notes, Lien instruments, or assignments of Lien instruments may be stored, from time to time, with Servicer or in
a public warehouse, access to which has been assigned by Borrower to Agent. 
 5.5 Records.
    Borrower keeps complete, correct and accurate records of the Notes Receivable owned by Borrower and all payments thereon. 

5.6 State of Incorporation; Location of Chief Executive Office; Organizational Identification Number; Commercial Tort Claims.

 (a) The jurisdiction of organization of HTGC, Borrower and each of their respective Subsidiaries is set forth on Schedule
5.6(a). 
 (b) The chief executive office of HTGC, Borrower and each of their respective Subsidiaries is located at the address
indicated on Schedule 5.6(b) (as such Schedule may be updated pursuant to Section 6.9). 
 (c) The organizational
identification numbers and federal employer identification numbers, if any, of HTGC, Borrower and each of their respective Subsidiaries are identified on Schedule 5.6(c). 

(d) As of the Closing Date, Borrower and its Subsidiaries do not hold any commercial tort claims, except as set forth on Schedule
5.6(d). 
 5.7 Due Organization and Qualification; Subsidiaries. 

  
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 (a) Borrower is duly organized and existing and in good standing under the laws of the
jurisdiction of its organization and qualified to do business in any state where the failure to be so qualified reasonably could be expected to have a Material Adverse Change. 

(b) Set forth on Schedule 5.7(b), is a complete and accurate description of the authorized capital Stock of each of HTGC and Borrower,
by class, and, as of the Closing Date, a description of the interests of each such class that are issued and outstanding. Other than as described on Schedule 5.7(b), there are no subscriptions, options, warrants, or calls relating to any
capital Stock of Borrower, including any right of conversion or exchange under any outstanding security or other instrument. Borrower is not subject to any obligation (contingent or otherwise) to repurchase or otherwise acquire or retire any shares
of its capital Stock or any security convertible into or exchangeable for any of its capital Stock. 
 (c) Set forth on Schedule
5.7(c), is a complete and accurate list of HTGC’s and Borrower’s direct and indirect Subsidiaries, showing: (i) the jurisdiction of their organization, (ii) the number of shares of each class of common and preferred Stock
authorized for each of such Subsidiaries, and (iii) the number and the percentage of the outstanding shares of each such class owned directly or indirectly by HTGC or Borrower. All of the outstanding capital Stock of each such Subsidiary has
been validly issued and is fully paid and non-assessable. 
 (d) Except as set forth on Schedule 5.7(c), there are no subscriptions,
options, warrants, or calls relating to any shares of capital Stock of a Subsidiary of Borrower, including any right of conversion or exchange under any outstanding security or other instrument. Neither Borrower nor any of its Subsidiaries is
subject to any obligation (contingent or otherwise) to repurchase or otherwise acquire or retire any shares of capital Stock of a Subsidiary of such Person or any security convertible into or exchangeable for any such capital Stock. 

5.8 Due Authorization; No Conflict. 

(a) The execution, delivery, and performance by Borrower of this Agreement and the other Loan Documents to which it is a party have been duly
authorized by all necessary action on the part of Borrower. 
 (b) The execution, delivery, and performance by Borrower of this Agreement
and the other Loan Documents to which it is a party do not and will not (i) violate any provision of federal, state, or local law or regulation applicable to Borrower, the Governing Documents of Borrower, or any order, judgment, or decree of
any court or other Governmental Authority binding on Borrower, (ii) conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under any material contractual obligation of Borrower,
(iii) result in or require the creation or imposition of any Lien of any nature whatsoever upon any properties or assets of Borrower, other than under this Agreement and the other Loan Documents, or (iv) require any approval of the holders
of Borrower’s Stock or any approval or consent of any Person under any material contractual obligation of Borrower, other than consents or approvals that have been obtained and that are still in force and effect. 

  
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 (c) Other than the filing of financing statements, the execution, delivery, and performance by
Borrower of this Agreement and the other Loan Documents to which Borrower is a party do not and will not require any registration with, consent, or approval of, or notice to, or other action with or by, any Governmental Authority or other Person,
other than consents or approvals that have been obtained and that are still in force and effect. 
 (d) This Agreement and the other Loan
Documents to which Borrower is a party, and all other documents contemplated hereby and thereby, when executed and delivered by Borrower will be the legally valid and binding obligations of Borrower, enforceable against Borrower in accordance with
their respective terms, except as enforcement may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or limiting creditors’ rights generally. 

(e) The Agent’s Liens are validly created, perfected, and first priority Liens, subject only to Permitted Liens. 

5.9 Litigation.     Other than those matters disclosed on Schedule 5.9, (a) there are no
actions, suits, or proceedings pending or, to the best knowledge of Borrower, threatened, against Borrower or any of its Subsidiaries, and (b) there are no actions, suits, or proceedings pending or, to the best knowledge of Borrower,
threatened, against HTGC that could reasonably be expected to result in a Material Adverse Change. 
 5.10 No Material Adverse
Change.     All financial statements relating to HTGC, Borrower and their respective Subsidiaries that have been delivered by HTGC or Borrower to the Lender Group have been prepared in accordance with GAAP (except, in the
case of unaudited financial statements, for the lack of footnotes and being subject to year-end audit adjustments) and present fairly in all material respects, the financial condition of HTGC, Borrower, and their respective Subsidiaries as of the
date thereof and results of operations for the period then ended. There has not been a Material Adverse Change with respect to HTGC, Borrower or their respective Subsidiaries since the date of the latest financial statements submitted to the Lender
Group on or before the Closing Date. 
 5.11 Fraudulent Transfer. 

(a) Each of Borrower and each of its Subsidiaries is Solvent. 

(b) No transfer of property is being made by Borrower or its Subsidiaries and no obligation is being incurred by Borrower or its Subsidiaries
in connection with the transactions contemplated by this Agreement or the other Loan Documents with the intent to hinder, delay, or defraud either present or future creditors of Borrower or its Subsidiaries. 

5.12 Employee Benefits.     None of Borrower, any of its Subsidiaries, or any of their ERISA Affiliates
maintains or contributes to any Benefit Plan. 
 5.13 Environmental Condition.     Except as set
forth on Schedule 5.13, (a) to Borrower’s knowledge, none of Borrower’s or its Subsidiaries’ properties or assets has ever been used by Borrower, its Subsidiaries or by previous owners or operators in the disposal of, or
to produce, store, handle, treat, release, or transport, any Hazardous Materials, where such use,  

  
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production, storage, handling, treatment, release or transport was in violation, in any material respect, of any applicable Environmental Law, (b) to Borrower’s knowledge, none of
Borrower’s or its Subsidiaries’ properties or assets has ever been designated or identified in any manner pursuant to any environmental protection statute as a Hazardous Materials disposal site, (c) neither Borrower nor any of its
Subsidiaries has received notice that a Lien arising under any Environmental Law has attached to any revenues or to any Real Property owned or operated by Borrower or its Subsidiaries, and (d) neither Borrower nor its Subsidiaries has received
a summons, citation, notice, or directive from the United States Environmental Protection Agency or any other federal or state governmental agency concerning any action or omission by Borrower or its Subsidiaries resulting in the releasing or
disposing of Hazardous Materials into the environment. 
 5.14 Brokerage Fees.     Neither Borrower nor
any of its Affiliates has utilized the services of any broker or finder in connection with Borrower’s obtaining financing from the Lender Group under this Agreement, and any brokerage commission or finders fee payable in connection herewith
shall be the sole responsibility of Borrower or its Affiliates. 
 5.15 Intellectual Property.
    Borrower and its Subsidiaries own, or hold licenses in, all trademarks, trade names, copyrights, patents, patent rights, and licenses that are necessary to the conduct of its business as currently conducted, and attached
hereto as Schedule 5.15 (as updated from time to time) is a true, correct, and complete listing of all material patents, patent applications, trademarks, trademark applications, copyrights, and copyright registrations as to which Borrower or
one of its Subsidiaries is the owner or is an exclusive licensee, other than shrink wrap and other similar licenses generally available to the public. 

5.16 Leases.     Borrower and its Subsidiaries enjoy peaceful and undisturbed possession under all leases
material to their business and to which they are parties or under which they are operating, and all of such leases are valid and subsisting and no material default by Borrower or its Subsidiaries exists under any of them. 

5.17 Deposit Accounts and Securities Accounts.     Set forth on Schedule 5.17 is a listing of all of
Borrower’s and its Subsidiaries’ Deposit Accounts and, Securities Accounts, including, with respect to each bank or securities intermediary (a) the name and address of such Person, and (b) the account numbers of the Deposit
Accounts or Securities Accounts maintained with such Person. 
 5.18 Complete Disclosure.     All
factual information (taken as a whole) furnished by or on behalf of HTGC, Borrower or their respective Subsidiaries in writing to Agent or any Lender (including all information contained in the Schedules hereto or in the other Loan Documents) for
purposes of or in connection with this Agreement, the other Loan Documents, or any transaction contemplated herein or therein is, and all other such factual information (taken as a whole) hereafter furnished by or on behalf of HTGC, Borrower or
their respective in writing to Agent or any Lender will be, true and accurate, in all material respects, on the date as of which such information is dated or certified and not incomplete by omitting to state any fact necessary to make such
information (taken as a whole) not misleading in any material respect at such time in light of the circumstances under which such information was provided. As of the date on which any Projections are delivered to Agent, such Projections represent
Borrower’s good faith  

  
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estimate of its and its Subsidiaries’ future performance for the periods covered thereby based upon reasonable assumptions when made; provided, however, that the parties
acknowledge that the Projections are merely estimates and that there is no guarantee that Borrower will achieve the results forecast in the Projections. 

5.19 Indebtedness.     Set forth on Schedule 5.19 is a true and complete list of all Indebtedness of
Borrower and its Subsidiaries outstanding immediately prior to the Closing Date that is to remain outstanding after the Closing Date and such Schedule accurately reflects the aggregate principal amount of such Indebtedness and describes the
principal terms thereof. 
 5.20 Compliance.     The standard forms and documents evidencing and executed
in connection with Notes Receivable and all actions and transactions by Borrower in connection therewith comply in all material respects with all applicable laws. Such standard forms and documents are commensurate with forms and documentation used
by prudent lenders in the same or similar circumstances as Borrower, and, without limiting the foregoing, are sufficient to create valid, binding and enforceable obligations of each Account Debtor named therein. 

5.21 Servicing.     Borrower has entered into the Sale and Servicing Agreement, pursuant to which Borrower
has engaged HTGC, as the initial Servicer and as Borrower’s agent, to monitor, manage, enforce and collect the Notes Receivables and disburse Collections in respect thereof as provided by the Sale and Servicing Agreement, subject to this
Agreement. HTGC has, and any replacement Servicer proposed by Borrower will have, the requisite knowledge, experience, expertise and capacity to service the Notes Receivables. 

5.22 Permits, Licenses, Etc..     Each of Borrower and HTGC has, and is in compliance in all material
respects with, all permits, licenses, authorizations, approvals, entitlements and accreditations required for such Person lawfully to own, lease, manage or operate, or to acquire, each business and the Real Property currently owned, leased, managed
or operated, or to be acquired, by such Person, except for such permits, licenses, authorizations, approvals, entitlements and accreditations the absence of which could not reasonably be expected to result in a Material Adverse Change. To
Borrower’s knowledge, no condition exists or event has occurred which, in itself or with the giving of notice or lapse of time or both, would result in the suspension, revocation, impairment, forfeiture or non-renewal of any such permit,
license, authorization, approval, entitlement or accreditation, the loss of which could reasonably be expected to result in a Material Adverse Change, and, to Borrower’s knowledge, there is no claim that any thereof is not in full force and
effect. Schedule 5.22 lists all of the licenses, franchises, approvals or consents of any Governmental Authority or other Person that is required for Borrower to conduct its business as currently conducted or proposed to be conducted except
for such licenses, franchises, approvals, or consents the absence of which could not reasonably be expected to result in a Material Adverse Change. 

5.23 Margin Stock.     Borrower is not and will not be engaged in the business of extending credit for the
purpose of purchasing or carrying margin stock (within the meaning of Regulations T, U or X of the Board of Governors of the Federal Reserve System), and no proceeds of any Advance will be used to purchase or carry any margin stock or to extend
credit to others for the purpose of purchasing or carrying any margin stock. 

  
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 5.24 Holding Company and Investment Company Acts.     Borrower
is not an “investment company” or “promoter” of, or “principal underwriter” of or for, an “investment company”, as such terms are defined in the Investment Company Act of 1940, as amended. 

 

	6.	AFFIRMATIVE COVENANTS. 

 Borrower covenants and agrees that, from and after the Closing
Date and until termination of all of the Commitments and payment in full of the Obligations, Borrower shall and shall cause each of its Subsidiaries to do all of the following: 

6.1 Accounting System.     Maintain a system of accounting that enables Servicer to produce financial
statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agent. Borrower also shall keep a reporting system that shows all additions, fees,
payments, claims, and write-downs with respect to the Notes Receivable. 
 6.2 Collateral Reporting.
    Provide or cause Servicer to provide Agent (and if so requested by Agent, with copies for each Lender) with the following documents at the following times in form satisfactory to Agent: 

 

			
	Daily		(a) notice of all claims, offsets, or disputes asserted by Account Debtors with respect to any of Borrower’s Notes Receivables;
		
	Date of each Advance and at least monthly (not later than the 10th day of each month)		(b) a Borrowing Base Certificate which includes (i) a detailed calculation of the Borrowing Base as of the date of the requested Advance, and (ii) detail regarding Notes Receivables that are not Eligible Notes
Receivables;
		
	Monthly (not later than the 10th day of each month), calculated or determined as of the last day of the preceding month		 (c) a detailed aging, by total, of the Notes Receivables of Borrower, together with a reconciliation to the detailed calculation of the
Borrowing Base most recently provided to Agent,
  
 (d) Collateral reports specifying (i)
the current unpaid principal balance of each Note Receivable, (ii) current committed amount with respect to each Note Receivable, (iii) current payment status of each Note Receivable, and (iv) brief description of collateral for each Note
Receivable, with additional detail showing additions to and deletions from the Collateral,

		
			(e) a summary aging by Account Debtor of all Notes Receivable of Borrower, including delinquency and past-due reports and indication of any litigation or foreclosure action,
		
			(f) a summary report of categories of non-Eligible Notes Receivable for the month most recently ended,
		
			(g) Borrower’s credit watch list,
		
	Upon request by Agent		(h) a summary aging, by vendor, of HTGC’s and its Subsidiaries’ accounts payable and any book overdraft, and
		
			(i) such other reports as to the Collateral, or the financial condition of Borrower and its Subsidiaries, as Agent may request.

  
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 In connection with the foregoing reports, (i) Borrower shall maintain and utilize accounting and reporting
systems reasonably acceptable to Agent, (ii) if requested by Agent, Borrower agrees to cooperate fully with Agent to facilitate and implement a system of electronic collateral reporting in order to provide electronic reporting of each of the
items set forth above, (iii) if requested by Agent, Borrower shall use Agent’s electronic reporting system for all reporting of the foregoing information to Agent, and (iv) to the extent required by Agent, an Authorized Person or
other representative acceptable to Agent will meet with Agent from time to time as requested by Agent to review and discuss all Notes Receivable then owned by Borrower. 

6.3 Financial Statements, Reports, Certificates.     Deliver to Agent, with copies to each Lender: 

(a) as soon as available, but in any event within thirty (30) days after the end of each fiscal month of Borrower, 

(i) an unaudited consolidated balance sheet, income statement and statement of cash flow (if applicable) covering such
Person’s and its Subsidiaries’ operations during such period and the year-to-date period ending thereon, in each case setting forth in comparative form the figures for the corresponding periods in the prior year, in form acceptable to
Agent, and 
 (ii) a Compliance Certificate demonstrating in reasonable detail (A) Borrower’s compliance at the end
of such period with the applicable financial and portfolio covenants contained in Sections 7.16 and 7.17 that are measured on a monthly basis, and (B) HTGC’s compliance at the end of such period with the minimum portfolio
funding liquidity covenant contained in Sections 7.16(f); 
 (b) as soon as available, but in any event within forty-five
(45) days after the end of each fiscal quarter of Borrower and HTGC, 
 (i) an unaudited consolidated and consolidating
balance sheet, income statement and statement of cash flow covering HTGC’s and its Subsidiaries’ operations during such period and the year-to-date period ending thereon, in each case setting forth in comparative form the figures for the
corresponding periods in the prior year, in form acceptable to Agent; provided, that the availability via EDGAR, or any successor system of the SEC, of the financial statements in HTGC’s applicable quarterly report on Form 10-Q shall be
deemed delivery to Agent of the financial statements required to be delivered pursuant to this clause (b)(i), on the date such documents are made so available, and 

(ii) a Compliance Certificate demonstrating in reasonable detail Borrower’s and HTGC’s compliance at the end of such
period with the applicable financial and portfolio covenants contained in Sections 7.16 and 7.17 that are measured on a quarterly basis; 

  
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 (c) as soon as available, but in any event within ninety (90) days after the end of each
fiscal year of Borrower and HTGC, 
 (i) consolidated financial statements of HTGC and its Subsidiaries for such fiscal year,
audited by PricewaterhouseCoopers LLP or other independent certified public accountants reasonably acceptable to Agent and certified, without any qualifications (including any (A) “going concern” or like qualification or exception,
(B) qualification or exception as to the scope of such audit, or (C) qualification which relates to the treatment or classification of any item and which, as a condition to the removal of such qualification, would require an adjustment to
such item, the effect of which would be to cause any noncompliance with the provisions of Sections 7.16 or 7.17), by such accountants to have been prepared in accordance with GAAP (such audited financial statements to include a balance
sheet, income statement, and statement of cash flow and, if prepared, such accountants’ letter to management); provided, that the availability via EDGAR, or any successor system of the SEC, of the financial statements in HTGC’s
annual report on Form 10-K shall be deemed delivery to Agent of the financial statements required to be delivered pursuant to this clause (c)(i), on the date such documents are made so available, and 

(ii) a Compliance Certificate demonstrating in reasonable detail Borrower’s and HTGC’s compliance at the end of such
period with the applicable financial and portfolio covenants contained in Sections 7.16 and 7.17; 
 (d) as soon as available,
but in any event not less than thirty (30) days prior to the commencement of each fiscal year of Borrower and HTGC, copies of Projections for Borrower and HTGC that have been provided to the Board of Directors of Borrower or HTGC for the
forthcoming fiscal year, certified by the chief financial officer of Borrower and the chief financial officer of HTGC, as applicable, as being such officer’s good faith estimate of the financial performance of Borrower and HTGC during the
period covered thereby, 
 (e) if requested by Agent, and if and when filed by Borrower or HTGC, copies of Borrower’s or HTGC’s
federal income tax returns, and any amendments thereto, filed with the Internal Revenue Service, 
 (f) promptly notify Agent of the
following regarding each Note Receivable and Note Receivable Collateral which secures such Note Receivable: 
 (i) the
occurrence of any event which may materially impair the prospect of payment of such Note Receivable; 
 (ii) the sending by
Servicer or Borrower of any notice of default, recordation by Servicer or Borrower of any notice of foreclosure and the date of any scheduled foreclosure sale thereon, or filing by Servicer or Borrower of any lawsuit (including case number and
court) on a Note Receivable or related Note Receivable Collateral; 
 (iii) the consummation of any foreclosure sale or any
deed or bill of sale in lieu of foreclosure, retention of collateral in satisfaction of debt or similar 

  
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transaction, and deliver to Agent true and complete copies of all documentation executed in respect thereof (in the case of notices, postings and the like, and in the case of deeds, bills of sale
or retention of collateral transactions, all documents related to consummation of such transaction or transfer of such property); and 

(iv) the receipt by Servicer or Borrower of a notice by any Person of (x) a default with respect to any agreement
evidencing or governing a Lien on any Note Receivable Collateral or (y) any foreclosure sale with respect to any Note Receivable Collateral; 

(g) promptly, but in any event within five (5) days after Borrower has knowledge of any event or condition that constitutes a Default or
an Event of Default, notice thereof and a statement of the curative action that Borrower proposes to take with respect thereto, 
 (h)
promptly after the commencement thereof, but in any event within five (5) days after the service of process with respect thereto on HTGC, Borrower or any of their respective Subsidiaries, notice of all actions, suits, or proceedings brought by
or against HTGC, Borrower or any of their respective Subsidiaries before any Governmental Authority which, if determined adversely to HTGC, Borrower or such Subsidiary, reasonably could be expected to result in a Material Adverse Change, and 

(i) upon the request of Agent, any other information reasonably requested relating to the financial condition of HTGC, Borrower or any of
their respective Subsidiaries. 
 In addition, Borrower agrees to deliver financial statements prepared on both a consolidated and consolidating basis to
the extent required by this Section 6.3, and agrees that Borrower will not have fiscal year different from that of HTGC and that no Subsidiary of Borrower will have a fiscal year different from that of Borrower. Borrower also agrees to
cooperate with Agent to allow Agent to (A) audit Borrower or its Subsidiaries, and HTGC, and (B) consult with its and each such other Person’s independent certified public accountants if Agent reasonably requests the right to do so.
In such connection, Borrower authorizes, and will cooperate with Agent to cause its Subsidiaries and HTGC to authorize, its independent certified public accountants to communicate with Agent and to release to Agent whatever financial information
concerning such Person as Agent reasonably may request. 
 6.4 Notices Regarding Collections Servicing Staff.
    Provide Agent with notice promptly (and in any case within two (2) Business Days) if any Authorized Person of Borrower or HTGC ceases to continue to hold such position. 

6.5 Collection of Notes Receivable.     (a) Subject to Section 4.8, to use or cause
Servicer to use commercially reasonable efforts, at Borrower’s sole cost and expense (including through the application of available funds pursuant to Section 2.3(b)) and in its own name, in accordance with industry standards and
applicable laws, to promptly and diligently collect and enforce payment of all Notes Receivable to the extent that it is commercially reasonable to do so and in a commercially reasonable manner, and defend and hold Lender harmless from any and all
loss, damage, penalty, fine or expense arising from such collection or enforcement, (b) in accordance with the Borrower’s Required Procedures, maintain at its chief executive office, and, 

  
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upon the request of Lender, make available to Lender copies of its Notes Receivable and all related documents and instruments, and all files, surveys, certificates, correspondence, appraisals,
computer programs, accounting records and other information and data relating to the Collateral, and (c) permit Lender or its representatives to discuss with Borrower’s officers or with appraisers furnishing appraisals of property securing
any Note Receivable the procedures for preparation, review and retention of, and to review and obtain copies of, such appraisals. 
 6.6
Maintenance of Properties.     Maintain and preserve all of its properties which are necessary or useful in the proper conduct of its business in good working order and condition, ordinary wear and tear excepted, and
comply at all times with the provisions of all material leases to which it is a party as lessee so as to prevent any loss or forfeiture thereof or thereunder. 

6.7 Taxes.     Cause all assessments and taxes, whether real, personal, or otherwise, due or payable by, or
imposed, levied, or assessed against Borrower, its Subsidiaries or any of their respective assets to be paid in full, before delinquency or before the expiration of any extension period, except to the extent that the validity of such assessment or
tax shall be the subject of a Permitted Protest. Borrower will and will cause its Subsidiaries to make timely payment or deposit of all tax payments and withholding taxes required of it and them by applicable laws, including those laws concerning
F.I.C.A., F.U.T.A., state disability, and local, state, and federal income taxes, and will, upon request, furnish Agent with proof satisfactory to Agent indicating that Borrower and its Subsidiaries have made such payments or deposits. 

6.8 Insurance. 

(a) At Borrower’s expense, maintain insurance respecting its and its Subsidiaries’ assets wherever located covering loss or damage
by fire, theft, explosion, and all other hazards and risks as ordinarily are insured against by other Persons engaged in the same or similar businesses. Borrower also shall maintain business interruption, and public liability insurance, as well as
insurance against fraud, larceny, embezzlement, and criminal misappropriation. All such policies of insurance shall be in such amounts and with such insurance companies as are reasonably satisfactory to Agent. Borrower shall deliver copies of all
such policies to Agent with an endorsement naming Agent as the sole loss payee (under a satisfactory lender’s loss payable endorsement) or additional insured, as appropriate. Each policy of insurance or endorsement shall contain a clause
requiring the insurer to give not less than 30 days prior written notice to Agent in the event of cancellation of the policy for any reason whatsoever. Borrower shall also ensure that Servicer maintains similar insurance coverages for the benefit of
Borrower under the Sale and Servicing Agreement. 
 (b) Borrower shall give Agent prompt notice of any loss covered by such insurance. Agent
shall have the exclusive right to adjust any losses claimed under any such insurance policies in excess of $50,000 (or in any amount after the occurrence and during the continuation of an Event of Default), without any liability to Borrower
whatsoever in respect of such adjustments. Any monies received as payment for any loss under any insurance policy mentioned above (other than liability insurance policies) or as payment of any award or compensation for condemnation or taking by
eminent domain, shall be paid over to Agent to be applied at the option of the Required Lenders either to the prepayment of the Obligations or shall be disbursed to Borrower under staged payment terms reasonably satisfactory to the Required

  
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Lenders for application to the cost of repairs, replacements, or restorations. Any such repairs, replacements, or restorations shall be effected with reasonable promptness and shall be of a value
at least equal to the value of the items of property destroyed prior to such damage or destruction. 
 (c) Borrower will not and will not
suffer or permit its Subsidiaries to take out separate insurance concurrent in form or contributing in the event of loss with that required to be maintained under this Section 6.8, unless Agent is included thereon as an additional insured or
loss payee under a lender’s loss payable endorsement. Borrower promptly shall notify Agent whenever such separate insurance is taken out, specifying the insurer thereunder and full particulars as to the policies evidencing the same, and copies
of such policies promptly shall be provided to Agent. 
 6.9 Location of Collateral.     Keep the
Collateral only at the locations identified on Schedule 5.4, or at the Agent or at the Collateral Custodian in the case of Notes Receivable, and maintain the chief executive offices of Borrower and its Subsidiaries only at the locations
identified on Schedule 5.6(b); provided, however, that Borrower may amend Schedules 5.4 and 5.6 so long as such amendment occurs by written notice to Agent not less than thirty (30) days prior to the date on
which such Collateral is moved to such new location or such chief executive office is relocated, so long as such new location is within the continental United States, and so long as, at the time of such written notification, Borrower provides to
Agent a Collateral Access Agreement with respect thereto. 
 6.10 Compliance with Laws.     Comply
with the requirements of all applicable laws, rules, regulations, and orders of any Governmental Authority, other than laws, rules, regulations, and orders the non-compliance with which, individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Change. 
 6.11 Leases.     Pay when due all rents and
other amounts payable under any leases to which Borrower or any of its Subsidiaries is a party or by which Borrower’s or any such its Subsidiaries’ properties and assets are bound, unless such payments are the subject of a Permitted
Protest. 
 6.12 Existence.     At all times preserve and keep in full force and effect
Borrower’s and its Subsidiaries’ valid existence and good standing and any rights and franchises material to their businesses. Borrower acknowledges that the Lender Group is entering into the Loan Documents in reliance upon Borrower’s
identity as a separate legal entity from each of its other Affiliates. From and after the Closing Date, Borrower shall conduct its own business in its own name and take all reasonable steps, including, without limitation, all steps that Agent may
from time to time reasonably request, to maintain Borrower’s identity and existence as a separate legal entity and to make it manifest to third parties that Borrower is an entity with assets and liabilities distinct from those of its other
Affiliates. Without limiting the generality of the foregoing and in addition to the other covenants set forth herein, Borrower shall: 

(a) unless in favor of Borrower with respect to the allocation of ordinary course operating expenses, conduct all transactions with its other
Affiliates strictly on an arm’s-length basis and allocate all overhead expenses (including, without limitation, telephone and other utility charges) for items shared between such other Affiliates, and Borrower on the basis of actual use to the
extent practicable and, to the extent such allocation is not practicable, on a basis reasonably related to actual use; 

  
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 (b) observe all corporate formalities as a distinct entity, and ensure that all actions relating
to the dissolution or liquidation of Borrower or the initiation or participation in, acquiescence in, or consent to any bankruptcy, insolvency, reorganization, or similar proceeding involving Borrower, are duly authorized by unanimous vote of its
directors; 
 (c) maintain Borrower’s Books separate from those of its other Affiliates and otherwise readily identifiable as its own
assets rather than assets of its other Affiliates; 
 (d) except as herein specifically otherwise provided, not commingle funds or other
assets of Borrower with those of its other Affiliates and, except for the Cash Management Accounts, not maintain bank accounts or other depository accounts to which Borrower is an account party, into which Borrower makes deposits or from which
Borrower has the power to make withdrawals; and 
 (e) not permit Borrower to pay or finance any of its other Affiliates’ operating
expenses not properly allocable to Borrower. 
 6.13 Environmental.     (a) Keep any property either
owned or operated by Borrower or its Subsidiaries free of any Environmental Liens or post bonds or other financial assurances sufficient to satisfy the obligations or liability evidenced by such Environmental Liens, (b) comply, in all material
respects, with Environmental Laws and provide to Agent documentation of such compliance which Agent reasonably requests, (c) promptly notify Agent of any release of a Hazardous Material in any reportable quantity from or onto property owned or
operated by Borrower or its Subsidiaries and take any Remedial Actions required to abate said release or otherwise to come into compliance with applicable Environmental Law, and (d) promptly, but in any event within 5 days of its receipt
thereof, provide Agent with written notice of any of the following: (i) notice that an Environmental Lien has been filed against any of the real or personal property of Borrower or its Subsidiaries, (ii) commencement of any Environmental
Action or notice that an Environmental Action will be filed against Borrower or its Subsidiaries, and (iii) notice of a violation, citation, or other administrative order which reasonably could be expected to result in a Material Adverse
Change. 
 6.14 Disclosure Updates.     Promptly and in no event later than five (5) Business
Days after obtaining knowledge thereof, notify Agent if any written information, exhibit, or report furnished to the Lender Group contained, at the time it was furnished, any untrue statement of a material fact or omitted to state any material fact
necessary to make the statements contained therein not misleading in light of the circumstances in which made. The foregoing to the contrary notwithstanding, any notification pursuant to the foregoing provision will not cure or remedy the effect of
the prior untrue statement of a material fact or omission of any material fact nor shall any such notification have the effect of amending or modifying this Agreement or any of the Schedules hereto. 

6.15 Formation of Subsidiaries.     Not form or acquire any Subsidiary of Borrower on or after the Closing
Date without the prior written consent of Agent, and at the time that  

  
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Borrower forms any direct or indirect Subsidiary or acquires any direct or indirect Subsidiary after the Closing Date with the prior written consent of the Agent, Borrower shall, if and to the
extent required by Agent, (a) cause such new Subsidiary to provide to Agent a joinder to this Agreement, together with such other security documents (including mortgages with respect to any Real Property of such new Subsidiary), as well as
appropriate financing statements (and with respect to all property subject to a mortgage, fixture filings), all in form and substance satisfactory to Agent (including being sufficient to grant Agent a first priority Lien (subject to Permitted Liens)
in and to the assets of such newly formed or acquired Subsidiary), (b) provide to Agent a pledge agreement and appropriate certificates and powers or financing statements, hypothecating all of the direct or beneficial ownership interest in such
new Subsidiary, in form and substance satisfactory to Agent, and (c) provide to Agent all other documentation, including one or more opinions of counsel satisfactory to Agent, if requested by Agent, which in its opinion is appropriate with
respect to the execution and delivery of the applicable documentation referred to above (including policies of title insurance or other documentation with respect to all property subject to a mortgage). Any document, agreement, or instrument
executed or issued pursuant to this Section 6.15 shall be a Loan Document. 
 6.16 Required Asset Documents.
    Immediately upon receipt, deliver to Agent or the Collateral Custodian (if one has been appointed) all of the Required Asset Documents related to such Note Receivable. 

6.17 Sale and Servicing Agreement.     Cause Servicer to promptly provide Agent with true and complete
copies of all notices sent or received by Servicer under the Sale and Servicing Agreement. 
 6.18 Escrow Deposits.
    Deposit into a Deposit Account that is subject to a perfected Agent’s Lien all amounts advanced by Borrower into escrow and all amounts delivered to Borrower to be held in escrow, including, without limitation,
construction funds, insurance premiums and proceeds, taxes, and other funds delivered to Borrower to be held on behalf of any Account Debtor. 

6.19 Maintenance of Treasury Management Accounts at Wells Fargo.     Maintain all of Borrower’s
respective treasury management accounts at Wells Fargo. 
  

	7.	NEGATIVE COVENANTS. 

 Borrower covenants and agrees that, from and after the Closing Date
and until termination of all of the Commitments and full and final payment of the Obligations, Borrower will not and will not permit any of its Subsidiaries to do any of the following: 

7.1 Indebtedness.     Create, incur, assume, suffer to exist, guarantee, or otherwise become or remain,
directly or indirectly, liable with respect to any Indebtedness, except: 
 (a) Indebtedness evidenced by this Agreement and the
other Loan Documents, 
 (b) Subordinated Debt, 

(c) other Indebtedness set forth on Schedule 5.19, 

  
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 (d) Permitted Purchase Money Indebtedness, 

(e) refinancings, renewals, or extensions of Indebtedness permitted under clauses (c) and (d) of this
Section 7.1 (and continuance or renewal of any Permitted Liens associated therewith) so long as: (i) the terms and conditions of such refinancings, renewals, or extensions do not, in Agent’s judgment, materially impair the
prospects of repayment of the Obligations by Borrower or materially impair Borrower’s creditworthiness, (ii) such refinancings, renewals, or extensions do not result in an increase in the principal amount of, or interest rate with respect
to, the Indebtedness so refinanced, renewed, or extended, (iii) such refinancings, renewals, or extensions do not result in a shortening of the average weighted maturity of the Indebtedness so refinanced, renewed, or extended, nor are they on
terms or conditions that, taken as a whole, are materially more burdensome or restrictive to Borrower, (iv) if the Indebtedness that is refinanced, renewed, or extended was subordinated in right of payment to the Obligations, then the terms and
conditions of the refinancing, renewal, or extension Indebtedness must include subordination terms and conditions that are at least as favorable to the Lender Group as those that were applicable to the refinanced, renewed, or extended Indebtedness,
and (v) the Indebtedness that is refinanced, renewed, or extended is non-recourse to any Person that is liable on account of the Obligations other than those Persons which were obligated with respect to the Indebtedness that was refinanced,
renewed, or extended, and 
 (f) endorsement of instruments or other payment items for deposit. 

7.2 Liens.     Create, incur, assume, or suffer to exist, directly or indirectly, any Lien on or with
respect to any of its assets, of any kind, whether now owned or hereafter acquired, or any income or profits therefrom, except for Permitted Liens (including Liens that are replacements of Permitted Liens to the extent that the original Indebtedness
is refinanced, renewed, or extended under Section 7.1(e) and so long as the replacement Liens only encumber those assets that secured the refinanced, renewed, or extended Indebtedness). 

7.3 Restrictions on Fundamental Changes. 

(a) Enter into any merger, consolidation, reorganization, or recapitalization, or amend any of its Governing Documents as in effect on the
Original Closing Date. 
 (b) Liquidate, wind up, or dissolve itself (or suffer any liquidation or dissolution). 

(c) Suspend or go out of a substantial portion of its or their business. 

(d) Convey, sell, lease, license, assign, transfer, or otherwise dispose of, in one transaction or a series of transactions, all or any
substantial part of its assets, other than through Permitted Dispositions. 
 7.4 Disposal of Assets.
    Other than Permitted Dispositions, convey, sell, lease, license, assign, transfer, or otherwise dispose of (or enter into an agreement to convey, sell, lease, license, assign, transfer, or otherwise dispose of) any of
Borrower’s or its Subsidiaries’ assets. 

  
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 7.5 Change Name.     Change Borrower’s or any of its
Subsidiaries’ name, organizational identification number, state of organization or organizational identity; provided, however, that Borrower or any of its Subsidiaries may change their names upon at least 30 days prior written
notice to Agent of such change and so long as, at the time of such written notification, Borrower or its Subsidiary provides any financing statements necessary to perfect and continue perfected the Agent’s Liens. 

7.6 Nature of Business.     Make any change in the nature of its or their business, or acquire any
properties or assets that are not reasonably related to the conduct of such business activities. Without limiting the generality of the foregoing, Borrower shall not permit HTGC to cause the portfolio of Notes Receivable held by Borrower, as opposed
to HTGC or any other Subsidiary or Affiliate of HTGC, to be selected in a manner adverse to Borrower or Lender. 
 7.7
Prepayments and Amendments.     Except in connection with a refinancing permitted by Section 7.1(e), or a Restricted Payment or other payment permitted by Section 7.10, 

(a) optionally prepay, redeem, defease, purchase, or otherwise acquire any Indebtedness of Borrower or its Subsidiaries, other than the
Obligations in accordance with this Agreement, 
 (b) make any payment on account of Indebtedness that has been contractually subordinated
in right of payment if such payment is not permitted at such time under the subordination terms and conditions, or 
 (c) directly or
indirectly, amend, modify, alter, increase, or change any of the terms or conditions of any agreement, instrument, document, indenture, or other writing evidencing or concerning any Subordinated Debt or any Indebtedness permitted under Sections
7.1(c), (d) or (e), except as permitted by Sections 7.1(e). 
 7.8 Change of Control.
    Cause, permit, or suffer, directly or indirectly, any Change of Control. 
 7.9 Required Procedures.
    Make any changes or revisions in any material respect to the Borrower’s Required Procedures without advance notice to, and consent by, Agent. 

7.10 Restricted Payments.     Make any Restricted Payment; provided, however, that so long as
no Default or Event of Default shall have occurred and be continuing or would occur as a result thereof and Agent and Lenders shall have received the financial statements required by Section 6.3(a) for the most recently completed fiscal
month, then Borrower may (a) make distributions to the holders of its Stock to the extent permitted by applicable law, and (b) make regularly scheduled payments of interest on the Subordinated Debt only as it becomes due and payable.

 7.11 Accounting Methods.     Modify or change its fiscal year or its method of accounting (other
than as may be required to conform to GAAP) or enter into, modify, or terminate any agreement currently existing, or at any time hereafter entered into with any third party accounting firm or service bureau for the preparation or storage of
Borrower’s or its Subsidiaries’ accounting records without said accounting firm or service bureau agreeing to provide Agent information regarding the Collateral or Borrower’s and its Subsidiaries’ financial condition. 

  
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 7.12 Investments.     Except for Permitted Investments,
directly or indirectly, make or acquire any Investment or incur any liabilities (including contingent obligations) for or in connection with any Investment. 

7.13 Transactions with Affiliates.     Directly or indirectly enter into or permit to exist any transaction
with any Affiliate of Borrower except for transactions that (i) are in the ordinary course of Borrower’s business, (ii) are upon fair and reasonable terms, (iii) are fully disclosed to Agent, and (iv) are no less favorable
to Borrower or its Subsidiaries, as applicable, than would be obtained in an arm’s length transaction with a non-Affiliate. 

7.14 Use of Proceeds.     Use the proceeds of the Advances for any purpose other than to pay transactional
fees, costs, and expenses incurred in connection with this Agreement, the other Loan Documents, and the transactions contemplated hereby and thereby, and for working capital purposes or to make distributions to the holders of its Stock to the extent
permitted by applicable law to the extent permitted by this Agreement. 
 7.15 Collateral with Bailees.
    Store any Collateral at any time now or hereafter with a bailee, warehouseman, or similar party, other than Agent or Collateral Custodian (if one has been appointed); provided, that loan files that do not include original
promissory notes, Lien instruments, or assignments of Lien instruments may be stored, from time to time, in a public warehouse, access to which has been assigned by Borrower to Agent. 

7.16 Financial Covenants. 

(a) Minimum Tangible Net Worth of Borrower.     Permit Borrower, on a consolidated basis with its Subsidiaries, to
fail to maintain as of the end of each of its fiscal quarters a sum of (i) Tangible Net Worth, plus (ii) Subordinated Debt, that is greater than or equal to the sum of (A) the lesser of (I) the sum of the outstanding
principal amounts of Borrower’s three largest Notes Receivable, and (II) $25,000,000, plus (B) any positive amount of cumulative capital contributions made to Borrower from and after the Original Closing Date. Notwithstanding the
foregoing, Borrower will not be required to calculate or comply with this financial covenant as of the end of any fiscal quarter when there are no outstanding Advances under the Loan Agreement. 

(b) Minimum Interest Coverage Ratio of Borrower.     Permit Borrower, on a consolidated basis with its
Subsidiaries, to fail to maintain, as measured on the last day of each of its fiscal quarters, an Interest Coverage Ratio for the three (3) fiscal month period then ended that is greater than or equal to 2.00 to 1.00. Notwithstanding the
foregoing, Borrower will not be required to calculate or comply with this financial covenant as of the end of any fiscal quarter when there are no outstanding Advances under the Loan Agreement. 

(c) Minimum Tangible Net Worth of HTGC.     Permit HTGC, on a consolidated basis with its Subsidiaries, to
fail to maintain as of the end of each of its fiscal quarters a sum of (i) Tangible Net Worth, plus (ii) Subordinated Debt, that is greater than or equal to the sum of (A) $500,000,000, plus (B) ninety percent
(90%) of the cumulative amount of equity raised by HTGC after June 30, 2014. 

  
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 (d) Maximum Debt to Worth Ratio of HTGC.     Permit HTGC, on a
consolidated basis with its Subsidiaries, to fail to maintain as of the end of each of its fiscal quarters a Debt to Worth Ratio that is less than or equal to 1.25 to 1.00. 

(e) Minimum Interest Coverage Ratio of HTGC.     Permit HTGC, on a consolidated basis with its Subsidiaries,
to fail to maintain, as measured on the last day of each of its fiscal quarters, an Interest Coverage Ratio for the three (3) fiscal month period then ended that is greater than or equal to 2.00 to 1.00. 

(f) Minimum Portfolio Funding Liquidity Covenant of HTGC.     Permit HTGC, on a consolidated basis with its
Subsidiaries, to fail to maintain, as measured on the last day of each of its fiscal months, an aggregate amount of unrestricted cash balances and borrowing availability under committed lines of credit that is greater than or equal to seventy-five
percent (75%) of the aggregate amount of unfunded commitments of Borrower to the makers of Notes Receivable. 
 7.17
Certain Borrower and HTGC Portfolio Covenants. 
 (a) Maximum Delinquent Notes Receivable Percentage of
Borrower.     Permit the aggregate unpaid principal balance of all Notes Receivable that are Delinquent Notes Receivable as of the last day of any fiscal month, to be in excess of ten percent (10%) of the aggregate
unpaid principal balance of all Notes Receivable as of such day. 
 (b) Maximum Defaulted Notes Receivable Percentage of
Borrower.     Permit the aggregate unpaid principal balance of all Notes Receivable that are Defaulted Notes Receivable as of the last day of any fiscal month, to be in excess of five percent (5%)of the aggregate unpaid
principal balance of all Notes Receivable as of such day. 
 (c) Maximum Amount of Unfunded Commitments of Borrower.
    Permit the aggregate amount of unfunded commitments of Borrower to the makers of Notes Receivable as of the last day of any fiscal month to be in excess of the greater of (i) $30,000,000, and (ii) forty percent
(40%) of the aggregate amount of the Commitments at such time. 
 (d) Maximum Delinquent Notes Receivable Percentage
of HTGC’s Serviced Portfolios.     Permit the aggregate unpaid principal balance of all loans that are serviced by HTGC for its Subsidiaries and Affiliates with respect to which any payment thereunder remains outstanding
and unpaid, in whole or in part, for more than sixty (60) days past the date it became due and payable as of the last day of any fiscal month, to be in excess of ten percent (10%) of the aggregate unpaid principal balance of all such loans
serviced by HTGC as of such day. 
 (e) Maximum Defaulted Notes Receivable Percentage of HTGC’s Serviced
Portfolios.     Permit the aggregate unpaid principal balance of all loans that are serviced by HTGC for its Subsidiaries and Affiliates with respect to which (a) any payment thereunder remains outstanding and unpaid, in
whole or in part, for more than ninety (90) days past the date  

  
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it became due and payable according to the original face and tenor of such loan, (b) with respect to which foreclosure proceedings have been initiated against any property securing such
loan, or (c) that HTGC deems to be non-collectible as of the last day of any fiscal month, to be in excess of ten percent (10%)of the aggregate unpaid principal balance of all such loans serviced by HTGC as of such day. 

7.18 Sale and Servicing Agreement. 

(a) With respect to the Sale and Servicing Agreement (i) amend or modify the Sale and Servicing Agreement in any manner that
(A) causes or allows the aggregate amount of the servicing fees payable under the Sale and Servicing Agreement to exceed, as of any time of determination, an amount equal to the amount of the servicing fees as determined pursuant to the Sale
and Servicing Agreement on the Original Closing Date, (B) except as allowed by clause (A) preceding, obligates Borrower for payment of any professional costs or court costs incurred by Servicer in servicing under the Sale and
Servicing Agreement, (C) causes or allows the requirements applicable to Servicer’s standards of conduct, compliance with laws or licensing requirements to be less restrictive than exist on the Original Closing Date, (D) releases any
indemnity obligations of Servicer or modifies any such obligations in any manner that is less restrictive than exist on the Original Closing Date, (E) relieves Servicer of its obligation to perform under the Sale and Servicing Agreement, or
(ii) terminate the Sale and Servicing Agreement, or allow the Sale and Servicing Agreement to be terminated, in any such case without the prior written consent of Agent. 

(b) Allow Servicer to delegate any of its duties or functions under the Sale and Servicing Agreement to any Person, or otherwise engage any
such Person to perform any such duties or functions for or on behalf of Servicer or Borrower, in any such case without the prior written consent of Agent. 

(c) Transfer the duties and functions of Servicer under the Sale and Servicing Agreement to any other Person without the prior written consent
of Agent. 
  

	8.	EVENTS OF DEFAULT. 

 Any one or more of the following events shall constitute an event of
default (each, an “Event of Default”) under this Agreement: 
 8.1 If Borrower fails to pay when due and payable, or
when declared due and payable, all or any portion of the Obligations (whether of principal, interest (including any interest which, but for the provisions of the Bankruptcy Code, would have accrued on such amounts), fees and charges due Agent or any
Lender, reimbursement of Lender Group Expenses, or other amounts constituting Obligations); 
 8.2 If Borrower (a) fails
to perform, keep, or observe any covenant or other provision contained in Sections 2.6, 6.2, 6.3, 6.5, 6.8, 6.12, 6.14, 6.16, 6.17, 6.18, and 7.1 through 7.18 of
this Agreement or any comparable provision contained in any of the other Loan Documents (b) fails to perform, keep, or observe any covenant or other provision contained in Sections 6.1, 6.6, 6.7, 6.9, 6.10,
6.11, 6.13, or 6.15 of this Agreement and such failure continues for a period of ten (10) days after the date on which such failure first occurs, or (c) fails to perform, keep, or

  
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observe any covenant or other provision contained in any Section of this Agreement (other than a Section that is expressly dealt with elsewhere in this Section 8.2), including failure
to satisfy a condition subsequent set forth in Section 3.2 within the period stated, or the other Loan Documents, and such failure continues for a period of fifteen (15) Business Days after the date on which such failure first
occurs; 
 8.3 If assets of Borrower or any of its Subsidiaries having an aggregate value in excess of $250,000, or assets of HTGC
having an aggregate value in excess of $1,000,000, are attached, seized, subjected to a writ or distress warrant, levied upon, or comes into the possession of any court-appointed receiver, trustee, custodian, conservator, or similar official;

 8.4 If an Insolvency Proceeding is commenced by Borrower or any of its Subsidiaries, or HTGC; 

8.5 If an Insolvency Proceeding is commenced against Borrower, or any of its Subsidiaries, or HTGC, and any of the following events
occur: (a) such Person consents to the institution of such Insolvency Proceeding against it, (b) the petition commencing the Insolvency Proceeding is not timely controverted; provided, however, that, during the pendency of
such period, Agent (including any successor agent) and each other member of the Lender Group shall be relieved of their obligations to extend credit hereunder, (c) the petition commencing the Insolvency Proceeding is not dismissed within 45
calendar days of the date of the filing thereof; provided, however, that, during the pendency of such period, Agent (including any successor agent) and each other member of the Lender Group shall be relieved of their obligations to
extend credit hereunder, (d) an interim trustee is appointed to take possession of all or any substantial portion of the properties or assets of, or to operate all or any substantial portion of the business of such Person, or (e) an order
for relief shall have been entered therein; 
 8.6 If Borrower or any of its Subsidiaries, or HTGC, is enjoined, restrained, or in
any way prevented by court order from continuing to conduct all or any material part of its business affairs; 
 8.7 If a
notice of Lien, levy, or assessment is filed of record with respect to any of the assets of Borrower or any of its Subsidiaries having an aggregate value in excess of $250,000, or of any of the assets of HTGC having an aggregate value in excess of
$1,000,000, by the United States, or any department, agency, or instrumentality thereof, or by any state, county, municipal, or governmental agency, or if any taxes or debts owing at any time hereafter to any one or more of such entities becomes a
Lien upon any of the assets of Borrower or any of its Subsidiaries having an aggregate value in excess of $250,000, or of any of the assets of HTGC having an aggregate value in excess of $1,000,000, and in any such case the same is not paid before
such payment is delinquent; 
 8.8 If a judgment or other claim becomes a Lien or encumbrance upon any assets of Borrower or
any of its Subsidiaries having an aggregate value in excess of $250,000, or of any of the assets of HTGC having an aggregate value in excess of $1,000,000, and in any such case either (a) enforcement of such judgment or claim remains unstayed
or unsatisfied for a period of thirty (30) consecutive days and is not fully covered (subject to standard deductibles) by insurance coverage under which the insurer has accepted liability, or (b) the judgment creditor or claimant begins
enforcement proceedings of such judgment or Lien; 

  
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 8.9 If there is (a) a default by Borrower, HTGC, or any of their respective
Subsidiaries as borrowers or obligors under any Subordinated Debt or any agreement for borrowed money (i) in an aggregate principal amount in excess of $250,000, in the case of such a default by Borrower or any of its Subsidiaries, or
(ii) in an aggregate principal amount in excess of $1,000,000, in the case of such a default by HTGC, and (b) such default (i) occurs at the final maturity of the obligations thereunder, or (ii) results in a right by the other
party thereto, irrespective of whether exercised, to accelerate the maturity of the obligations of Borrower or any of its Subsidiaries, or HTGC, thereunder, to terminate such agreement, or to refuse to renew such agreement in accordance with any
automatic renewal right therein; 
 8.10 If Borrower or any of its Subsidiaries, or HTGC, makes any payment on account of
Indebtedness that has been contractually subordinated in right of payment to the payment of the Obligations, except to the extent such payment is permitted by the terms of the subordination provisions applicable to such Indebtedness; 

8.11 If any warranty, representation, statement, or Record made or provided to the Lender Group by Borrower, its Subsidiaries, HTGC, or
any officer, employee, agent, or director of Borrower or any of its Subsidiaries or HTGC is incorrect in any material respect as of the date when made or deemed made; 

8.12 If the obligations of any Guarantor under its Guaranty is limited or terminated by operation of law or by such Guarantor
thereunder; 
 8.13 If this Agreement or any other Loan Document that purports to create a Lien in favor of Agent or Lenders
shall, for any reason, fail or cease to create a valid and perfected and, except to the extent permitted by the terms hereof or thereof, first priority Lien on or security interest in the Collateral covered hereby or thereby in favor of Agent or
Lenders, except as a result of a disposition of the applicable Collateral in a transaction permitted under this Agreement; 
 8.14
If any of the individuals serving as of the Closing Date (or serving thereafter as a replacement acceptable to Agent in accordance with this Section 8.14) as the Chief Executive Officer, Chief Financial Officer, or Chief Credit
Officer, respectively, of either Borrower or HTGC, shall cease to be actively involved in the business of Borrower or HTGC (as applicable) in such capacity and such individual has not been replaced within 90 days by an individual acceptable to Agent
in Agent’s Permitted Discretion; provided, that the replacement of Andrew Olson by Mark Harris as Chief Financial Officer shall be deemed a replacement by an individual acceptable to Agent in accordance with this Section 8.14
so long as Agent receives a completed reference check on Mark Harris, the results of which are satisfactory to Agent in its sole discretion, within 60 days of Mark Harris assuming such position. 

8.15 Either Servicer or Borrower fails to comply, in any material respect, with its obligations under the Sale and Servicing Agreement;
or 

  
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 8.16 Any provision of any Loan Document that Agent in its Permitted Discretion deems to be
material shall at any time for any reason be declared to be null and void, or the validity or enforceability thereof shall be contested by Borrower or its Subsidiaries, or by HTGC, or a proceeding shall be commenced by Borrower or its Subsidiaries,
or by HTGC, or by any Governmental Authority having jurisdiction over Borrower or its Subsidiaries or HTGC seeking to establish the invalidity or unenforceability thereof, or Borrower or its Subsidiaries, or HTGC, shall deny that such Person has any
liability or obligation purported to be created under any Loan Document to which it is a party. 
  

	9.	THE LENDER GROUP’S RIGHTS AND REMEDIES. 

 9.1 Rights and Remedies.
    Upon the occurrence, and during the continuation, of an Event of Default, the Required Lenders (at their election but without notice of their election and without demand) may authorize and instruct Agent to do any one or more
of the following on behalf of the Lender Group (and Agent, acting upon the instructions of the Required Lenders, shall do the same on behalf of the Lender Group), all of which are authorized by Borrower: 

(a) Declare all or any portion of the Obligations (other than the Bank Product Obligations), whether evidenced by this Agreement or by any of
the other Loan Documents, immediately due and payable, whereupon the same shall become and be immediately due and payable and Borrower shall be obligated to repay all of such Obligations in full; 

(b) Declare the Revolving Credit Availability Period and the Commitments terminated, whereupon the Revolving Credit Availability Period and
the Commitments shall immediately be terminated together with any obligation of any Lender to advance money or extend credit to or for the benefit of Borrower under this Agreement, under any of the Loan Documents, or under any other agreement
between Borrower and the Lender Group; 
 (c) Terminate this Agreement and any of the other Loan Documents as to any future liability or
obligation of the Lender Group, but without affecting any of Agent’s Liens in the Collateral and without affecting the Obligations; 

(d) Settle or adjust disputes and claims directly with Borrower’s Account Debtors and makers of Notes Receivable for amounts and upon
terms which Agent considers advisable, and in such cases, Agent will credit Borrower’s Loan Account with only the net amounts received by Agent in payment of such disputed Accounts or Notes Receivable after deducting all Lender Group Expenses
incurred or expended in connection therewith; 
 (e) Exercise or assign any and all rights to collect, manage, and service the Notes
Receivables, including, (i) receive, process and account for all Collections in respect of Notes Receivables, (ii) terminate the Sale and Servicing Agreement and assign servicing responsibilities to any replacement servicer,
(iii) without notice to or demand upon Borrower, make any payments as are reasonably necessary or desirable in connection with the Sale and Servicing Agreement or any other agreement that Agent enters into with any replacement servicer, and
(iv) take all lawful actions and procedures which Agent or such assignee deems necessary to collect the amounts due to Borrower in connection with Notes Receivables (all amounts incurred by Agent pursuant to this Section 9.1(e)
shall be Lender Group Expenses); 

  
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 (f) Without notice to or demand upon Borrower or any other Person, make such payments and do such
acts as Agent considers necessary or reasonable to protect its security interests in the Collateral. Borrower agrees to assemble the Collateral if Agent so requires, and to make the Collateral available to Agent at a place that Agent may designate
which is reasonably convenient to both parties. Borrower authorizes Agent to enter the premises where the Collateral is located, to take and maintain possession of the Collateral, or any part of it, and to pay, purchase, contest, or compromise any
Lien that in Agent’s determination appears to conflict with the priority of Agent’s Liens in and to the Collateral and to pay all expenses incurred in connection therewith and to charge Borrower’s Loan Account therefor. With respect
to any of Borrower’s owned or leased premises, Borrower hereby grants Agent a license to enter into possession of such premises and to occupy the same, without charge, in order to exercise any of the Lender Group’s rights or remedies
provided herein, at law, in equity, or otherwise; 
 (g) Without notice to Borrower (such notice being expressly waived), and without
constituting an acceptance of any collateral in full or partial satisfaction of an obligation (within the meaning of the Code), set off and apply to the Obligations any and all (i) balances and deposits of Borrower held by the Lender Group
(including any amounts received in the Cash Management Accounts), or (ii) Indebtedness at any time owing to or for the credit or the account of Borrower held by the Lender Group; 

(h) Hold, as cash collateral, any and all balances and deposits of Borrower held by the Lender Group, and any amounts received in the Cash
Management Accounts, to secure the full and final repayment of all of the Obligations; 
 (i) Ship, reclaim, recover, store, finish,
maintain, repair, prepare for sale, advertise for sale, and sell (in the manner provided for herein) the Borrower Collateral. Borrower hereby grants to Agent a license or other right to use, without charge, Borrower’s labels, patents,
copyrights, trade secrets, trade names, trademarks, service marks, and advertising matter, or any property of a similar nature, as it pertains to the Borrower Collateral, in completing production of, advertising for sale, and selling any Borrower
Collateral and Borrower’s rights under all licenses and all franchise agreements shall inure to the Lender Group’s benefit; 
 (j)
Sell the Borrower Collateral at either a public or private sale, or both, by way of one or more contracts or transactions, for cash or on terms, in such manner and at such places (including Borrower’s premises) as Agent determines is
commercially reasonable. It is not necessary that the Borrower Collateral be present at any such sale; 
 (k) Except in those circumstances
where no notice is required under the Code, Agent shall give notice of the disposition of the Borrower Collateral as follows: 

(i) Agent shall give Borrower a notice in writing of the time and place of public sale, or, if the sale is a private sale or
some other disposition other than a public sale is to be made of the Borrower Collateral, the time on or after which the private sale or other disposition is to be made; and 

  
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 (ii) The notice shall be personally delivered or mailed, postage prepaid, to
Borrower as provided in Section 12, at least 10 days before the earliest time of disposition set forth in the notice; no notice needs to be given prior to the disposition of any portion of the Borrower Collateral that is perishable or
threatens to decline speedily in value or that is of a type customarily sold on a recognized market; 
 (l) Agent, on behalf of the Lender
Group, may credit bid and purchase at any public sale; 
 (m) Agent may seek the appointment of a receiver or keeper to take possession of
all or any portion of the Borrower Collateral or to operate same and, to the maximum extent permitted by applicable law, may seek the appointment of such a receiver without the requirement of prior notice or a hearing; 

(n) Exercise any and all rights of Borrower under the Sale and Servicing Agreement or assume or assign any and all rights and responsibilities
to collect, manage, and service the Notes Receivables, including (i) the responsibility for the receipt, processing and accounting for all payments on account of the Notes Receivables, (ii) periodically sending demand notices and
statements to the Account Debtors or makers of Notes Receivable, (iii) enforcing legal rights with respect to the Notes Receivables, including hiring attorneys to do so to the extent Agent or such assignee deems such engagement necessary, and
(iv) taking all lawful actions and procedures which Agent or such assignee deems necessary to collect the Notes Receivables, and all such amounts shall be Lender Group Expenses; and 

(o) The Lender Group shall have all other rights and remedies available at law or in equity or pursuant to any other Loan Document. 

The foregoing to the contrary notwithstanding, upon the occurrence of any Event of Default described in Section 8.4 or
Section 8.5, in addition to the remedies set forth above, without any notice to Borrower or any other Person or any act by the Lender Group, the Revolving Credit Availability Period and the Commitments shall automatically terminate and
the Obligations (other than Bank Product Obligations), inclusive of all accrued and unpaid interest thereon and all fees and all other amounts due under this Agreement and the other Loan Documents, shall automatically and immediately become due and
payable and Borrower shall be obligated to repay all of such Obligations in full, without presentment, demand, protest, or notice of any kind, all of which are expressly waived by Borrower. 

9.2 Remedies Cumulative.     The rights and remedies of the Lender Group under this Agreement, the other
Loan Documents, and all other agreements shall be cumulative. The Lender Group shall have all other rights and remedies not inconsistent herewith as provided under the Code, by law, or in equity. No exercise by the Lender Group of one right or
remedy shall be deemed an election, and no waiver by the Lender Group of any Event of Default shall be deemed a continuing waiver. No delay by the Lender Group shall constitute a waiver, election, or acquiescence by it. 

  
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	10.	TAXES AND EXPENSES. 

 If Borrower fails to pay any monies (whether taxes, assessments,
insurance premiums, or, in the case of leased properties or assets, rents or other amounts payable under such leases) due to third Persons, or fails to make any deposits or furnish any required proof of payment or deposit, all as required under the
terms of this Agreement, then, Agent, in its sole discretion and without prior notice to Borrower, may do any or all of the following: (a) make payment of the same or any part thereof, (b) set up such reserves against the Borrowing Base or
the Maximum Revolver Amount as Agent deems necessary to protect the Lender Group from the exposure created by such failure, or (c) in the case of the failure to comply with Section 6.8 hereof, obtain and maintain insurance policies
of the type described in Section 6.8 and take any action with respect to such policies as Agent deems prudent. Any such amounts paid by Agent shall constitute Lender Group Expenses and any such payments shall not constitute an agreement
by the Lender Group to make similar payments in the future or a waiver by the Lender Group of any Event of Default under this Agreement. Agent need not inquire as to, or contest the validity of, any such expense, tax, or Lien and the receipt of the
usual official notice for the payment thereof shall be conclusive evidence that the same was validly due and owing. 
  

	11.	WAIVERS; INDEMNIFICATION. 

 11.1 Demand; Protest; etc.
    Borrower waives demand, protest, notice of protest, notice of default or dishonor, notice of payment and nonpayment, nonpayment at maturity, release, compromise, settlement, extension, or renewal of documents, instruments,
chattel paper, and guarantees at any time held by the Lender Group on which Borrower may in any way be liable. 
 11.2 The
Lender Group’s Liability for Borrower Collateral.     Borrower hereby agrees that: (a) so long as Agent complies with its obligations, if any, under the Code, the Lender Group shall not in any way or manner be
liable or responsible for: (i) the safekeeping of the Borrower Collateral, (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause, (iii) any diminution in the value thereof, or (iv) any act
or default of any carrier, warehouseman, bailee, forwarding agency, or other Person, and (b) all risk of loss, damage, or destruction of the Borrower Collateral shall be borne by Borrower. 

11.3 Indemnification.     Borrower shall pay, indemnify, defend, and hold the Agent-Related Persons, the
Lender-Related Persons with respect to each Lender, each Participant (each, an “Indemnified Person”) harmless (to the fullest extent permitted by applicable law) from and against any and all claims, demands, suits, actions,
investigations, proceedings, liabilities, costs, penalties, and damages, and all reasonable fees and disbursements of attorneys, experts and consultants and other reasonable costs and expenses actually incurred in connection therewith or in
connection with the enforcement of this indemnification (as and when they are incurred and irrespective of whether suit is brought), at any time asserted against, imposed upon, or incurred by any of them (a) in connection with or as a result of
or related to the execution, delivery, enforcement, performance, or administration (including any restructuring or workout with respect hereto) of the Original Loan Agreement, the Original Loan Documents, this Agreement, any of the other Loan
Documents, or the transactions contemplated hereby or thereby or the monitoring of Borrower’s and its Subsidiaries’ compliance with the terms of the Original Loan 

  
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Agreement, the Original Loan Documents, or the Loan Documents, (b) with respect to any investigation, litigation, or proceeding related to the Original Loan Agreement, the Original Loan
Documents, this Agreement, any other Loan Document, or the use of the proceeds of the credit provided hereunder (irrespective of whether any Indemnified Person is a party thereto), or any act, omission, event, or circumstance in any manner related
thereto, and (c) in connection with or arising out of any presence or release of Hazardous Materials at, on, under, to or from any assets or properties owned, leased or operated by Borrower or any of its Subsidiaries or any Environmental
Actions, Environmental Liabilities and Costs or Remedial Actions related in any way to any such assets or properties of Borrower or any of its Subsidiaries (all the foregoing, collectively, the “Indemnified Liabilities”). The
foregoing to the contrary notwithstanding, Borrower shall have no obligation to any Indemnified Person under this Section 11.3 with respect to any Indemnified Liability that a court of competent jurisdiction finally determines to have
resulted from the gross negligence or willful misconduct of such Indemnified Person. This provision shall survive the termination of this Agreement and the repayment of the Obligations. If any Indemnified Person makes any payment to any other
Indemnified Person with respect to an Indemnified Liability as to which Borrower was required to indemnify the Indemnified Person receiving such payment, the Indemnified Person making such payment is entitled to be indemnified and reimbursed by
Borrower with respect thereto. WITHOUT LIMITATION, THE FOREGOING INDEMNITY SHALL APPLY TO EACH INDEMNIFIED PERSON WITH RESPECT TO INDEMNIFIED LIABILITIES WHICH IN WHOLE OR IN PART ARE CAUSED BY OR ARISE OUT OF ANY NEGLIGENT ACT OR OMISSION OF
SUCH INDEMNIFIED PERSON OR OF ANY OTHER PERSON. 
  

	12.	NOTICES. 

 Unless otherwise provided in this Agreement, all notices or demands by
Borrower or Agent to the other relating to this Agreement or any other Loan Document shall be in writing and (except for financial statements and other informational documents which may be sent by first-class mail, postage prepaid) shall be
personally delivered or sent by registered or certified mail (postage prepaid, return receipt requested), overnight courier, electronic mail (at such email addresses as Borrower or Agent, as applicable, may designate to each other in accordance
herewith), or telefacsimile to Borrower or Agent, as the case may be, at its address set forth below: 
  

					
			If to Borrower:		 Hercules Funding II LLC
 c/o Hercules
Technology Growth Capital, Inc.
 400 Hamilton Avenue, Suite 310

Palo Alto, California 94301
 Attn: Chief Executive Officer and
Chief Financial Officer
 Fax No. 650-473-9194

			
			with copies to:		 Hercules Funding II LLC
 c/o Hercules
Technology Growth Capital, Inc.
 400 Hamilton Avenue, Suite 310

Palo Alto, California 94301
 Attn: Chief Legal Officer

Fax No. 650-473-9194

  
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			If to Agent:		 Wells Fargo Capital Finance, LLC
 14241
Dallas Parkway, Suite 1300
 Dallas, Texas 75244
 Attn: Loan
Portfolio Manager – Hercules Technology
 Fax No. 866- 532-5561

			
			with copies to:		 McDermott Will & Emery LLP
 275
Middlefield Road, Suite 100
 Menlo Park, California 94025

Attn: Dick M. Okada, Esq.
 Fax No. 650-469-1420

 Agent and Borrower may change the address at which they are to receive notices hereunder, by notice in writing in the
foregoing manner given to the other party. All notices or demands sent in accordance with this Section 12, other than notices by Agent in connection with enforcement rights against the Borrower Collateral under the provisions of the
Code, shall be deemed received on the earlier of the date of actual receipt or three (3) Business Days after the deposit thereof in the mail as provided herein, or if sent by facsimile when sent with receipt confirmed by the recipient. Borrower
acknowledges and agrees that notices sent by the Lender Group in connection with the exercise of enforcement rights against Borrower Collateral under the provisions of the Code shall be deemed sent when deposited in the mail or personally delivered,
or, where permitted by law, transmitted by telefacsimile or any other method set forth above. 
  

	13.	CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER. 

 (a) THE VALIDITY OF THIS AGREEMENT AND
THE OTHER LOAN DOCUMENTS (UNLESS EXPRESSLY PROVIDED TO THE CONTRARY IN ANOTHER LOAN DOCUMENT IN RESPECT OF SUCH OTHER LOAN DOCUMENT), THE CONSTRUCTION, INTERPRETATION, AND ENFORCEMENT HEREOF AND THEREOF, AND THE RIGHTS OF THE PARTIES HERETO AND
THERETO WITH RESPECT TO ALL MATTERS ARISING HEREUNDER OR THEREUNDER OR RELATED HERETO OR THERETO SHALL BE DETERMINED UNDER, GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

(b) THE PARTIES AGREE THAT ALL ACTIONS OR PROCEEDINGS ARISING IN CONNECTION WITH THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS SHALL BE TRIED
AND LITIGATED ONLY IN THE STATE AND, TO THE EXTENT PERMITTED BY APPLICABLE LAW, FEDERAL COURTS LOCATED IN THE COUNTY OF NEW YORK, STATE OF NEW YORK, PROVIDED, HOWEVER, THAT ANY SUIT SEEKING ENFORCEMENT AGAINST ANY COLLATERAL OR OTHER
PROPERTY MAY BE BROUGHT, AT AGENT’S OPTION, IN THE COURTS OF ANY JURISDICTION WHERE AGENT ELECTS TO BRING SUCH ACTION OR WHERE SUCH COLLATERAL OR OTHER PROPERTY 

  
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MAY BE FOUND. BORROWER AND EACH MEMBER OF THE LENDER GROUP WAIVE, TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, ANY RIGHT EACH MAY HAVE TO ASSERT THE DOCTRINE OF FORUM NON
CONVENIENS OR TO OBJECT TO VENUE TO THE EXTENT ANY PROCEEDING IS BROUGHT IN ACCORDANCE WITH THIS SECTION 13(b). 
 (c)
BORROWER AND EACH MEMBER OF THE LENDER GROUP HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF ANY OF THE LOAN DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED THEREIN, INCLUDING
CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS. BORROWER AND EACH MEMBER OF THE LENDER GROUP REPRESENT THAT EACH HAS REVIEWED THIS WAIVER AND EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL
RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. IN THE EVENT OF LITIGATION, A COPY OF THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. 
  

	14.	ASSIGNMENTS AND PARTICIPATIONS; SUCCESSORS. 

 14.1 Assignments and
Participations 
 (a) Any Lender may assign and delegate to one or more assignees (each an “Assignee”) that are
Eligible Transferees all or any portion of the Obligations, the Commitments and the other rights and obligations of such Lender hereunder and under the other Loan Documents, in a minimum amount (unless waived by the Agent) of $5,000,000 (except such
minimum amount shall not apply to (x) an assignment or delegation by any Lender to any other Lender or an Affiliate of any Lender or (y) a group of new Lenders, each of whom is an Affiliate of each other or a fund or account managed by any
such new Lender or an Affiliate of such new Lender to the extent that the aggregate amount to be assigned to all such new Lenders is at least $5,000,000); provided, however, that Borrower and Agent may continue to deal solely and
directly with such Lender in connection with the interest so assigned to an Assignee until (i) written notice of such assignment, together with payment instructions, addresses, and related information with respect to the Assignee, have been
given to Borrower and Agent by such Lender and the Assignee, (ii) such Lender and its Assignee have delivered to Borrower and Agent an Assignment and Acceptance and Agent has notified the assigning Lender of its receipt thereof in accordance
with Section 14.1(b), and (iii) unless waived by the Agent, the assigning Lender or Assignee has paid to Agent for Agent’s separate account a processing fee in the amount of $5,000. Anything contained herein to the contrary
notwithstanding, the payment of any fees shall not be required and the Assignee need not be an Eligible Transferee if such assignment is in connection with any merger, consolidation, sale, transfer, or other disposition of all or any substantial
portion of the business or loan portfolio of the assigning Lender. 
 (b) From and after the date that Agent notifies the assigning Lender
(with a copy to Borrower) that it has received an executed Assignment and Acceptance and, if applicable, payment of the required processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations
hereunder have been assigned to it pursuant 

  
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to such Assignment and Acceptance, shall have the rights and obligations of a Lender under the Loan Documents, and (ii) the assigning Lender shall, to the extent that rights and obligations
hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights (except with respect to Section 11.3 hereof) and be released from any future obligations under this
Agreement (and in the case of an Assignment and Acceptance covering all or the remaining portion of an assigning Lender’s rights and obligations under this Agreement and the other Loan Documents, such Lender shall cease to be a party hereto and
thereto), and such assignment shall effect a novation among Borrower, the assigning Lender, and the Assignee; provided, however, that nothing contained herein shall release any assigning Lender from obligations that survive the
termination of this Agreement, including such assigning Lender’s obligations under Section 16 and Section 17.7(a) of this Agreement. 

(c) By executing and delivering an Assignment and Acceptance, the assigning Lender thereunder and the Assignee thereunder confirm to and agree
with each other and the other parties hereto as follows: (i) other than as provided in such Assignment and Acceptance, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements,
warranties or representations made in or in connection with this Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement or any other Loan Document furnished pursuant hereto, (ii) such
assigning Lender makes no representation or warranty and assumes no responsibility with respect to the financial condition of Borrower or the performance or observance by Borrower of any of its obligations under this Agreement or any other Loan
Document furnished pursuant hereto, (iii) such Assignee confirms that it has received a copy of this Agreement, together with such other documents and information as it has deemed appropriate to make its own credit analysis and decision to
enter into such Assignment and Acceptance, (iv) such Assignee will, independently and without reliance upon Agent, such assigning Lender or any other Lender, and based on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under this Agreement, (v) such Assignee appoints and authorizes Agent to take such actions and to exercise such powers under this Agreement as are delegated to Agent, by
the terms hereof, together with such powers as are reasonably incidental thereto, and (vi) such Assignee agrees that it will perform all of the obligations which by the terms of this Agreement are required to be performed by it as a Lender.

 (d) Immediately upon Agent’s receipt of the required processing fee, if applicable, and delivery of notice to the assigning Lender
pursuant to Section 14.1(b), this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The
Commitment allocated to each Assignee shall reduce such Commitments of the assigning Lender pro tanto. 
 (e) Any Lender may
at any time sell to one or more commercial banks, financial institutions, or other Persons (a “Participant”) participating interests in all or any portion of its Obligations, its Commitment, and the other rights and interests of
that Lender (the “Originating Lender”) hereunder and under the other Loan Documents; provided, however, that (i) the Originating Lender shall remain a “Lender” for all purposes of this Agreement and the
other Loan Documents and the Participant receiving the participating interest in the Obligations, 

  
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the Commitments, and the other rights and interests of the Originating Lender hereunder shall not constitute a “Lender” hereunder or under the other Loan Documents and the Originating
Lender’s obligations under this Agreement shall remain unchanged, (ii) the Originating Lender shall remain solely responsible for the performance of such obligations, (iii) Borrower, Agent, and the Lenders shall continue to deal
solely and directly with the Originating Lender in connection with the Originating Lender’s rights and obligations under this Agreement and the other Loan Documents, (iv) no Lender shall transfer or grant any participating interest under
which the Participant has the right to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment to, or consent or waiver with respect to this Agreement or of
any other Loan Document would (A) extend the final maturity date of the Obligations hereunder in which such Participant is participating, (B) reduce the interest rate applicable to the Obligations hereunder in which such Participant is
participating, (C) release all or substantially all of the Collateral or guaranties (except to the extent expressly provided herein or in any of the Loan Documents) supporting the Obligations hereunder in which such Participant is
participating, (D) postpone the payment of, or reduce the amount of, the interest or fees payable to such Participant through such Lender, or (E) change the amount or due dates of scheduled principal repayments or prepayments or premiums,
and (v) all amounts payable by Borrower hereunder shall be determined as if such Lender had not sold such participation, except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have
become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of
its participating interest were owing directly to it as a Lender under this Agreement. The rights of any Participant only shall be derivative through the Originating Lender with whom such Participant participates and no Participant shall have any
rights under this Agreement or the other Loan Documents or any direct rights as to the other Lenders, Agent, Borrower, the Collections, the Collateral, or otherwise in respect of the Obligations. No Participant shall have the right to participate
directly in the making of decisions by the Lenders among themselves. 
 (f) In connection with any such assignment or participation or
proposed assignment or participation, a Lender may, subject to the provisions of Section 17.7, disclose all documents and information which it now or hereafter may have relating to Borrower and its Subsidiaries and their respective
businesses. 
 (g) Any other provision in this Agreement notwithstanding, any Lender may at any time create a security interest in, or
pledge, all or any portion of its rights under and interest in this Agreement in favor of any Federal Reserve Bank in accordance with Regulation A of the Federal Reserve Bank or U.S. Treasury Regulation 31 CFR §203.24, and such Federal Reserve
Bank may enforce such pledge or security interest in any manner permitted under applicable law. 
 14.2 Successors.
    This Agreement shall bind and inure to the benefit of the respective successors and assigns of each of the parties; provided, however, that Borrower may not assign this Agreement or any rights or duties
hereunder without the Lenders’ prior written consent and any prohibited assignment shall be absolutely void ab initio. No consent to assignment by the Lenders shall release Borrower from its Obligations. A Lender may assign this Agreement and
the other Loan Documents and its rights and duties hereunder and thereunder pursuant to Section 14.1 hereof and, except as expressly required pursuant to Section 14.1 hereof, no consent or approval by Borrower is required in
connection with any such assignment. 

  
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	15.	AMENDMENTS; WAIVERS. 

 15.1 Amendments and Waivers.
    No amendment or waiver of any provision of this Agreement or any other Loan Document (other than the Fee Letter), and no consent with respect to any departure by Borrower therefrom, shall be effective unless the same shall be
in writing and signed by the Required Lenders (or by Agent at the written request of the Required Lenders) and Borrower and then any such waiver or consent shall be effective, but only in the specific instance and for the specific purpose for which
given; provided, however, that no such waiver, amendment, or consent shall, unless in writing and signed by all of the Lenders directly affected thereby and Borrower, do any of the following: 

(a) increase or extend any Commitment of any Lender, 

(b) postpone or delay any date fixed by this Agreement or any other Loan Document for any payment of principal, interest, fees, or other
amounts due hereunder or under any other Loan Document, 
 (c) reduce the principal of, or the rate of interest on, any loan or other
extension of credit hereunder, or reduce any fees or other amounts payable hereunder or under any other Loan Document, 
 (d) change the Pro
Rata Share that is required to take any action hereunder, 
 (e) amend or modify this Section or any provision of this Agreement providing
for consent or other action by all Lenders, 
 (f) other than as permitted by Section 16.12, release Agent’s Lien in and to
any of the Collateral; 
 (g) change the definition of “Required Lenders” or “Pro Rata Share”, 

(h) contractually subordinate any of the Agent’s Liens, 

(i) release Borrower or any Guarantor from any obligation for the payment of money, 

(j) change the definitions of Borrowing Base, Eligible Note Receivables, Maximum Revolver Amount, Amortization Commencement Date, Amortization
Commencement Date Principal Balance, Amortization Period, Required Amortization Amount or Revolving Credit Availability Period; 
 (k) amend
any of the provisions of Section 2.1(b) or Section 2.3(b)(i), 
 (l) amend any of the provisions of
Section 16; 

  
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 and, provided further, however, that no amendment, waiver or consent shall, unless in writing and
signed by Agent or Swing Lender, as applicable, affect the rights or duties of Agent or Swing Lender, as applicable, under this Agreement or any other Loan Document. The foregoing notwithstanding, (x) any amendment, modification, waiver,
consent, termination, or release of, or with respect to, any provision of this Agreement or any other Loan Document that relates only to the relationship of the Lender Group among themselves, and that does not affect the rights or obligations of
Borrower, shall not require consent by or the agreement of Borrower, and (y) any amendment, waiver, modification, elimination, or consent of or with respect to any provision of this Agreement or any other Loan Document may be entered into
without the consent of, or over the objection of, any Defaulting Lender. 
 Notwithstanding any provision in this Section 15.1, any amendment to
this Agreement that only adds one or more additional lenders as a Lender under this Agreement or adds or increases the amount of a Lender’s Commitment shall be effective if signed by the additional or existing Lender whose Commitment is added
or increased thereby, Borrower and Agent, and shall not require the consent of Required Lenders or any other Lender. 
 15.2
Replacement of Holdout Lender. 
 (a) If any action to be taken by the Lender Group or Agent hereunder requires the
unanimous consent, authorization, or agreement of all Lenders, and a Lender (“Holdout Lender”) fails to give its consent, authorization, or agreement, then Agent, upon at least 5 Business Days prior irrevocable notice to the Holdout
Lender, may permanently replace the Holdout Lender with one or more substitute Lenders (each, a “Replacement Lender”), and the Holdout Lender shall have no right to refuse to be replaced hereunder. Such notice to replace the Holdout
Lender shall specify an effective date for such replacement, which date shall not be later than 15 Business Days after the date such notice is given. 

(b) Prior to the effective date of such replacement, the Holdout Lender and each Replacement Lender shall execute and deliver an Assignment
and Acceptance Agreement, subject only to the Holdout Lender being repaid its share of the outstanding Obligations without any premium or penalty of any kind whatsoever. If the Holdout Lender shall refuse or fail to execute and deliver any such
Assignment and Acceptance Agreement prior to the effective date of such replacement, the Holdout Lender shall be deemed to have executed and delivered such Assignment and Acceptance Agreement. The replacement of any Holdout Lender shall be made in
accordance with the terms of Section 14.1. Until such time as the Replacement Lenders shall have acquired all of the Obligations, the Commitments, and the other rights and obligations of the Holdout Lender hereunder and under the other
Loan Documents, the Holdout Lender shall remain obligated to make the Holdout Lender’s Pro Rata Share of Advances. 
 15.3 No
Waivers; Cumulative Remedies.     No failure by Agent or any Lender to exercise any right, remedy, or option under this Agreement or any other Loan Document, or delay by Agent or any Lender in exercising the same, will
operate as a waiver thereof. No waiver by Agent or any Lender will be effective unless it is in writing, and then only to the extent specifically stated. No waiver by Agent or any Lender on any occasion shall affect or diminish Agent’s and each
Lender’s rights thereafter to require strict performance by Borrower of any provision of this Agreement. Agent’s and each Lender’s rights under this Agreement and the other Loan Documents will be cumulative and not exclusive of any
other right or remedy that Agent or any Lender may have. 

  
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	16.	AGENT; THE LENDER GROUP. 

 16.1 Appointment and Authorization of Agent.
    Each Lender hereby designates and appoints WFCF as its representative under this Agreement and the other Loan Documents and each Lender hereby irrevocably authorizes Agent to execute and deliver each of the other Loan
Documents on its behalf and to take such other action on its behalf under the provisions of this Agreement and each other Loan Document and to exercise such powers and perform such duties as are expressly delegated to Agent by the terms of this
Agreement or any other Loan Document, together with such powers as are reasonably incidental thereto. Agent agrees to act as such on the express conditions contained in this Section 16. The provisions of this Section 16
(other than the proviso to Section 16.11(e)) are solely for the benefit of Agent, and the Lenders, and Borrower and its Subsidiaries shall have no rights as a third party beneficiary of any of the provisions contained herein. Any
provision to the contrary contained elsewhere in this Agreement or in any other Loan Document notwithstanding, Agent shall not have any duties or responsibilities, except those expressly set forth herein, nor shall Agent have or be deemed to have
any fiduciary relationship with any Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against Agent; it being expressly
understood and agreed that the use of the word “Agent” is for convenience only, that WFCF is merely the representative of the Lenders, and only has the contractual duties set forth herein. Except as expressly otherwise provided in this
Agreement, Agent shall have and may use its sole discretion with respect to exercising or refraining from exercising any discretionary rights or taking or refraining from taking any actions that Agent expressly is entitled to take or assert under or
pursuant to this Agreement and the other Loan Documents. Without limiting the generality of the foregoing, or of any other provision of the Loan Documents that provides rights or powers to Agent, Lenders agree that Agent shall have the right to
exercise the following powers as long as this Agreement remains in effect: (a) maintain, in accordance with its customary business practices, ledgers and records reflecting the status of the Obligations, the Collateral, the Collections, and
related matters, (b) execute or file any and all financing or similar statements or notices, amendments, renewals, supplements, documents, instruments, proofs of claim, notices and other written agreements with respect to the Loan Documents,
(c) make Advances, for itself or on behalf of Lenders as provided in the Loan Documents, (d) exclusively receive, apply, and distribute the Collections as provided in the Loan Documents, (e) open and maintain such bank accounts and
cash management arrangements as Agent deems necessary and appropriate in accordance with the Loan Documents for the foregoing purposes with respect to the Collateral and the Collections, (f) perform, exercise, and enforce any and all other
rights and remedies of the Lender Group with respect to Borrower, the Obligations, the Collateral, the Collections, or otherwise related to any of same as provided in the Loan Documents, and (g) incur and pay such Lender Group Expenses as Agent
may deem necessary or appropriate for the performance and fulfillment of its functions and powers pursuant to the Loan Documents. 

16.2 Delegation of Duties.     Agent may execute any of its duties under this Agreement or any other Loan
Document by or through agents, employees or attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. Agent shall not be responsible for the negligence or misconduct of any agent or
attorney-in-fact that it selects as long as such selection was made without gross negligence or willful misconduct. 

  
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 16.3 Liability of Agent.     None of the Agent-Related Persons
shall (a) be liable for any action taken or omitted to be taken by any of them under or in connection with this Agreement or any other Loan Document or the transactions contemplated hereby (except for its own gross negligence or willful
misconduct), or (b) be responsible in any manner to any of the Lenders for any recital, statement, representation or warranty made by Borrower or any Subsidiary or Affiliate of Borrower, or any officer or director thereof, contained in this
Agreement or in any other Loan Document, or in any certificate, report, statement or other document referred to or provided for in, or received by Agent under or in connection with, this Agreement or any other Loan Document, or the validity,
effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document, or for any failure of Borrower or any other party to any Loan Document to perform its obligations hereunder or thereunder. No Agent-Related
Person shall be under any obligation to any Lender to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the Books or
properties of Borrower or the books or records or properties of any of Borrower’s Subsidiaries or Affiliates. 
 16.4
Reliance by Agent.     Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing, resolution, notice, consent, certificate, affidavit, letter, telegram, telefacsimile or other
electronic method of transmission, telex or telephone message, statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent, or made by the proper Person or Persons, and upon advice and
statements of legal counsel (including counsel to Borrower or counsel to any Lender), independent accountants and other experts selected by Agent. Agent shall be fully justified in failing or refusing to take any action under this Agreement or any
other Loan Document unless Agent shall first receive such advice or concurrence of the Lenders as it deems appropriate and until such instructions are received, Agent shall act, or refrain from acting, as it deems advisable. If Agent so requests, it
shall first be indemnified to its reasonable satisfaction by the Lenders against any and all liability and expense that may be incurred by it by reason of taking or continuing to take any such action. Agent shall in all cases be fully protected in
acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance with a request or consent of the requisite Lenders and such request and any action taken or failure to act pursuant thereto shall be binding upon all
of the Lenders. 
 16.5 Notice of Default or Event of Default.     Agent shall not be deemed to
have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest, fees, and expenses required to be paid to Agent for the account of the Lenders and, except with
respect to Events of Default of which Agent has actual knowledge, unless Agent shall have received written notice from a Lender or Borrower referring to this Agreement, describing such Default or Event of Default, and stating that such notice is a
“notice of default.” Agent promptly will notify the Lenders of its receipt of any such notice or of any Event of Default of which Agent has actual knowledge. If any Lender obtains actual knowledge of any Event of Default, such Lender
promptly shall notify the other Lenders and Agent of such Event of Default. Each Lender shall be solely responsible for giving any notices to its Participants, if any. Subject to Section 16.4, Agent shall take such action with 

  
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respect to such Default or Event of Default as may be requested by the Required Lenders in accordance with Section 9; provided, however, that unless and until Agent has
received any such request, Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable. 

16.6 Credit Decision.     Each Lender acknowledges that none of the Agent-Related Persons has made any
representation or warranty to it, and that no act by Agent hereinafter taken, including any review of the affairs of Borrower and its Subsidiaries or Affiliates, shall be deemed to constitute any representation or warranty by any Agent-Related
Person to any Lender. Each Lender represents to Agent that it has, independently and without reliance upon any Agent-Related Person and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation
into the business, prospects, operations, property, financial and other condition and creditworthiness of Borrower and any other Person party to a Loan Document, and all applicable bank regulatory laws relating to the transactions contemplated
hereby, and made its own decision to enter into this Agreement and to extend credit to Borrower. Each Lender also represents that it will, independently and without reliance upon any Agent-Related Person and based on such documents and information
as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to make such investigations as it deems necessary to
inform itself as to the business, prospects, operations, property, financial and other condition and creditworthiness of Borrower and any other Person party to a Loan Document. Except for notices, reports, and other documents expressly herein
required to be furnished to the Lenders by Agent, Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, prospects, operations, property, financial and other condition or
creditworthiness of Borrower and any other Person party to a Loan Document that may come into the possession of any of the Agent-Related Persons. 

16.7 Costs and Expenses; Indemnification.     Agent may incur and pay Lender Group Expenses to the extent
Agent reasonably deems necessary or appropriate for the performance and fulfillment of its functions, powers, and obligations pursuant to the Loan Documents, including court costs, attorneys’ fees and expenses, fees and expenses of financial
accountants, advisors, consultants, and appraisers, costs of collection by outside collection agencies, auctioneer fees and expenses, and costs of security guards or insurance premiums paid to maintain the Collateral, whether or not Borrower is
obligated to reimburse Agent or Lenders for such expenses pursuant to this Agreement or otherwise. Agent is authorized and directed to deduct and retain sufficient amounts from the Collections received by Agent to reimburse Agent for such
out-of-pocket costs and expenses prior to the distribution of any amounts to Lenders. In the event Agent is not reimbursed for such costs and expenses by Borrower, each Lender hereby agrees that it is and shall be obligated to pay to Agent such
Lender’s Pro Rata Share thereof. Whether or not the transactions contemplated hereby are consummated, the Lenders shall indemnify upon demand the Agent-Related Persons (to the extent not reimbursed by or on behalf of Borrower and without
limiting the obligation of Borrower to do so), according to their Pro Rata Shares, from and against any and all Indemnified Liabilities; provided, however, that no Lender shall be liable for the payment to any Agent-Related Person of
any portion of such Indemnified Liabilities resulting solely from such Person’s gross negligence or willful misconduct nor shall any Lender be liable for the obligations of any Defaulting Lender in failing to make an Advance or other extension
of  

  
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credit hereunder. Without limitation of the foregoing, each Lender shall reimburse Agent upon demand for such Lender’s Pro Rata Share of any costs or out-of-pocket expenses (including
attorneys, accountants, advisors, and consultants fees and expenses) incurred by Agent in connection with the preparation, execution, delivery, administration, modification, amendment, or enforcement (whether through negotiations, legal proceedings
or otherwise) of, or legal advice in respect of rights or responsibilities under, this Agreement, any other Loan Document, or any document contemplated by or referred to herein, to the extent that Agent is not reimbursed for such expenses by or on
behalf of Borrower. The undertaking in this Section shall survive the payment of all Obligations hereunder and the resignation or replacement of Agent. 

16.8 Agent in Individual Capacity.     WFCF and its Affiliates may make loans to, issue letters of credit
for the account of, accept deposits from, acquire equity interests in, and generally engage in any kind of banking, trust, financial advisory, underwriting, or other business with Borrower and its Subsidiaries and Affiliates and any other Person
party to any Loan Documents as though WFCF were not Agent hereunder, and, in each case, without notice to or consent of the other members of the Lender Group. The other members of the Lender Group acknowledge that, pursuant to such activities, WFCF
or its Affiliates may receive information regarding Borrower or its Affiliates and any other Person party to any Loan Documents that is subject to confidentiality obligations in favor of Borrower or such other Person and that prohibit the disclosure
of such information to the Lenders, and the Lenders acknowledge that, in such circumstances (and in the absence of a waiver of such confidentiality obligations, which waiver Agent will use its reasonable best efforts to obtain), Agent shall not be
under any obligation to provide such information to them. The terms “Lender” and “Lenders” include WFCF in its individual capacity. 

16.9 Successor Agent.     Agent may resign as Agent upon 45 days notice to the Lenders (unless such notice
is waived by the Required Lenders). If Agent resigns under this Agreement, the Required Lenders shall appoint a successor Agent for the Lenders. If, at the time that Agent’s resignation is effective, it is acting as the Swing Lender, such
resignation shall also operate to effectuate its resignation as the Swing Lender and it shall automatically be relieved of any further obligation to make Swing Loans. If no successor Agent is appointed prior to the effective date of the resignation
of Agent, Agent may appoint, after consulting with the Lenders, a successor Agent. If Agent has materially breached or failed to perform any material provision of this Agreement or of applicable law, the Required Lenders may agree in writing to
remove and replace Agent with a successor Agent from among the Lenders. In any such event, upon the acceptance of its appointment as successor Agent hereunder, such successor Agent shall succeed to all the rights, powers, and duties of the retiring
Agent and the term “Agent” shall mean such successor Agent and the retiring Agent’s appointment, powers, and duties as Agent shall be terminated. After any retiring Agent’s resignation hereunder as Agent, the provisions of this
Section 16 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Agent under this Agreement. If no successor Agent has accepted appointment as Agent by the date which is 45 days following a retiring
Agent’s notice of resignation, the retiring Agent’s resignation shall nevertheless thereupon become effective and the Lenders shall perform all of the duties of Agent hereunder until such time, if any, as the Lenders appoint a successor
Agent as provided for above. 

  
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 16.10 Lender in Individual Capacity.     Any Lender and its
respective Affiliates may make loans to, issue letters of credit for the account of, accept deposits from, acquire equity interests in and generally engage in any kind of banking, trust, financial advisory, underwriting or other business with
Borrower and its Subsidiaries and Affiliates and any other Person party to any Loan Documents as though such Lender were not a Lender hereunder without notice to or consent of the other members of the Lender Group. The other members of the Lender
Group acknowledge that, pursuant to such activities, such Lender and its respective Affiliates may receive information regarding Borrower or its Affiliates and any other Person party to any Loan Documents that is subject to confidentiality
obligations in favor of Borrower or such other Person and that prohibit the disclosure of such information to the Lenders, and the Lenders acknowledge that, in such circumstances (and in the absence of a waiver of such confidentiality obligations,
which waiver such Lender will use its reasonable best efforts to obtain), such Lender shall not be under any obligation to provide such information to them. With respect to the Swing Loans and Agent Advances, Swing Lender shall have the same rights
and powers under this Agreement as any other Lender and may exercise the same as though it were not the sub-agent of Agent. 

16.11 Withholding Taxes. 

(a) All payments made by Borrower hereunder or under any note or other Loan Document will be made without setoff, counterclaim, or other
defense. In addition, all such payments will be made free and clear of, and without deduction or withholding for, any present or future Taxes, and in the event any deduction or withholding of Taxes is required, Borrower shall comply with the
penultimate sentence of this Section 16.11(a). “Taxes” shall mean, any taxes, levies, imposts, duties, fees, assessments or other charges of whatever nature now or hereafter imposed by any jurisdiction or by any
political subdivision or taxing authority thereof or therein with respect to such payments (but excluding any tax imposed by any jurisdiction or by any political subdivision or taxing authority thereof or therein measured by or based on the net
income or net profits of any Lender) and all interest, penalties or similar liabilities with respect thereto. If any Taxes are so levied or imposed, Borrower agrees to pay the full amount of such Taxes and such additional amounts as may be necessary
so that every payment of all amounts due under this Agreement, any note, or Loan Document, including any amount paid pursuant to this Section 16.11(a) after withholding or deduction for or on account of any Taxes, will not be less than
the amount provided for herein; provided, however, that Borrower shall not be required to increase any such amounts if the increase in such amount payable results from Agent’s or such Lender’s own willful misconduct or gross
negligence (as finally determined by a court of competent jurisdiction). Borrower will furnish to Agent as promptly as possible after the date the payment of any Tax is due pursuant to applicable law certified copies of tax receipts evidencing such
payment by Borrower. 
 (b) If a Lender claims an exemption from United States withholding tax, such Lender agrees with and in favor of
Agent and Borrower, to deliver to Agent: 
 (i) if such Lender claims an exemption from United States withholding tax
pursuant to its portfolio interest exception, (A) a statement of the Lender, signed under penalty of perjury, that it is not a (I) a “bank” as described in Section 881(c)(3)(A) of the IRC, (II) a 10% shareholder of Borrower
(within the meaning of 

  
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Section 871(h)(3)(B) of the IRC), or (III) a controlled foreign corporation related to Borrower within the meaning of Section 864(d)(4) of the IRC, and (B) a properly completed and
executed IRS Form W-8BEN, before receiving its first payment under this Agreement and at any other time reasonably requested by Agent or Borrower; 

(ii) if such Lender claims an exemption from, or a reduction of, withholding tax under a United States tax treaty, properly
completed and executed IRS Form W-8BEN before receiving its first payment under this Agreement and at any other time reasonably requested by Agent or Borrower; 

(iii) if such Lender claims that interest paid under this Agreement is exempt from United States withholding tax because it is
effectively connected with a United States trade or business of such Lender, two properly completed and executed copies of IRS Form W-8ECI before receiving its first payment under this Agreement and at any other time reasonably requested by Agent or
Borrower; or 
 (iv) such other form or forms, including IRS Form W-9, as may be required under the IRC or other laws of the
United States as a condition to exemption from, or reduction of, United States withholding or backup withholding tax before receiving its first payment under this Agreement and at any other time reasonably requested by Agent or Borrower. 

Such Lender agrees promptly to notify Agent and Borrower of any change in circumstances which would modify or render invalid any claimed exemption or
reduction. 
 (c) If a Lender claims an exemption from withholding tax in a jurisdiction other than the United States, such Lender agrees
with and in favor of Agent and Borrower, to deliver to Agent any such form or forms, as may be required under the laws of such jurisdiction as a condition to exemption from, or reduction of, foreign withholding or backup withholding tax before
receiving its first payment under this Agreement and at any other time reasonably requested by Agent or Borrower. 
 Such Lender agrees promptly to notify
Agent and Borrower of any change in circumstances which would modify or render invalid any claimed exemption or reduction. 
 (d) If any
Lender claims exemption from, or reduction of, withholding tax and such Lender sells, assigns, grants a participation in, or otherwise transfers all or part of the Obligations of Borrower to such Lender, such Lender agrees to notify Agent and
Borrower of the percentage amount in which it is no longer the beneficial owner of Obligations of Borrower to such Lender. To the extent of such percentage amount, Agent and Borrower will treat such Lender’s documentation provided pursuant to
Sections 16.11(b) or 16.11(c) as no longer valid. With respect to such percentage amount, such Lender may provide new documentation, pursuant to Sections 16.11(b) or 16.11(c), if applicable. 

(e) if any Lender is entitled to a reduction in the applicable withholding tax, Agent may withhold from any interest payment to such Lender an
amount equivalent to the applicable withholding tax after taking into account such reduction. If the forms or other documentation required by Sections 16.11(b) or 16.11(c) are not delivered to Agent, then Agent may withhold from any
interest payment to such Lender not providing such forms or other documentation an amount equivalent to the applicable withholding tax. 

  
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 (f) If the IRS or any other Governmental Authority of the United States or other jurisdiction
asserts a claim that Agent did not properly withhold tax from amounts paid to or for the account of any Lender due to a failure on the part of the Lender (because the appropriate form was not delivered, was not properly executed, or because such
Lender failed to notify Agent of a change in circumstances which rendered the exemption from, or reduction of, withholding tax ineffective, or for any other reason) such Lender shall indemnify and hold Agent harmless for all amounts paid, directly
or indirectly, by Agent, as tax or otherwise, including penalties and interest, and including any taxes imposed by any jurisdiction on the amounts payable to Agent under this Section 16.11, together with all costs and expenses (including
attorneys’ fees and expenses). The obligation of the Lenders under this subsection shall survive the payment of all Obligations and the resignation or replacement of Agent. 

16.12 Collateral Matters 

(a) The Lenders hereby irrevocably authorize (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to
authorize) Agent to release any Lien on any Collateral (i) upon the termination of the Commitments and payment and satisfaction in full by Borrower of all of the Obligations, (ii) constituting property being sold or disposed of if a
release is required or desirable in connection therewith and if such sale or disposition is a Permitted Disposition or Borrower certifies to Agent that the sale or disposition is permitted under Section 7.4 (and Agent may rely
conclusively on any such certificate, without further inquiry), (iii) constituting property in which Borrower owned no interest at the time Agent’s Lien was granted nor at any time thereafter, or (iv) constituting property leased to
Borrower under a lease that has expired or is terminated in a transaction permitted under this Agreement. Borrower and the Lenders hereby irrevocably authorize (and by entering into a Bank Product Agreement, each Bank Product Provider shall be
deemed to authorize) Agent, based upon the instruction of the Required Lenders, to (a) consent to, credit bid or purchase (either directly or through one or more acquisition vehicles) all or any portion of the Collateral at any sale thereof
conducted under the provisions of the Bankruptcy Code, including under Section 363 of the Bankruptcy Code, (b) credit bid or purchase (either directly or through one or more acquisition vehicles) all or any portion of the Collateral
at any sale or other disposition thereof conducted under the provisions of the Code, including pursuant to Sections 9-610 or 9-620 of the Code, or (c) credit bid or purchase (either directly or through one or more acquisition vehicles) all or
any portion of the Collateral at any other sale or foreclosure conducted by Agent (whether by judicial action or otherwise) in accordance with applicable law. In connection with any such credit bid or purchase, the Obligations owed to the Lenders
and the Bank Product Providers shall be entitled to be, and shall be, credit bid on a ratable basis (with Obligations with respect to contingent or unliquidated claims being estimated for such purpose if the fixing or liquidation thereof would not
unduly delay the ability of Agent to credit bid or purchase at such sale or other disposition of the Collateral and, if such claims cannot be estimated without unduly delaying the ability of Agent to credit bid, then such claims shall be
disregarded, not credit bid, and not entitled to any interest in the asset or assets purchased by means of such credit bid) and the Lenders and the Bank Product Providers whose Obligations are credit bid shall be entitled to receive interests
(ratably based upon the proportion of their Obligations credit bid in relation to 

  
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the aggregate amount of Obligations so credit bid) in the asset or assets so purchased (or in the Stock of the acquisition vehicle or vehicles that are used to consummate such purchase). Except
as provided above, Agent will not execute and deliver a release of any Lien on any Collateral without the prior written authorization of (y) if the release is of all or substantially all of the Collateral, all of the Lenders (without requiring
the authorization of the Bank Product Providers), or (z) otherwise, the Required Lenders (without requiring the authorization of the Bank Product Providers). Upon request by Agent or Borrower at any time, the Lenders will (and if so requested,
the Bank Product Providers will) confirm in writing Agent’s authority to release any such Liens on particular types or items of Collateral pursuant to this Section 16.12; provided, however, that (1) Agent shall not be
required to execute any document necessary to evidence such release on terms that, in Agent’s opinion, would expose Agent to liability or create any obligation or entail any consequence other than the release of such Lien without recourse,
representation, or warranty, and (2) such release shall not in any manner discharge, affect, or impair the Obligations or any Liens (other than those expressly being released) upon (or obligations of Borrower in respect of) all interests
retained by Borrower, including, the proceeds of any sale, all of which shall continue to constitute part of the Collateral. The Lenders further hereby irrevocably authorize (and by entering into a Bank Product Agreement, each Bank Product Provider
shall be deemed to authorize) Agent, at its option and in its sole discretion, to subordinate any Lien granted to or held by Agent under any Loan Document to the holder of any Permitted Lien on such property if such Permitted Lien secures Permitted
Purchase Money Indebtedness. 
 (b) Agent shall have no obligation whatsoever to any of the Lenders (or the Bank Product Providers) to
assure that the Collateral exists or is owned by Borrower or is cared for, protected, or insured or has been encumbered, or that Agent’s Liens have been properly or sufficiently or lawfully created, perfected, protected, or enforced or are
entitled to any particular priority, or that any particular items of Collateral meet the eligibility criteria applicable in respect thereof or whether to impose, maintain, reduce, or eliminate any particular reserve hereunder or whether the amount
of any such reserve is appropriate or not, or to exercise at all or in any particular manner or under any duty of care, disclosure or fidelity, or to continue exercising, any of the rights, authorities and powers granted or available to Agent
pursuant to any of the Loan Documents, it being understood and agreed that in respect of the Collateral, or any act, omission, or event related thereto, subject to the terms and conditions contained herein, Agent may act in any manner it may deem
appropriate, in its sole discretion given Agent’s own interest in the Collateral in its capacity as one of the Lenders and that Agent shall have no other duty or liability whatsoever to any Lender (or Bank Product Provider) as to any of the
foregoing, except as otherwise provided herein. 
 16.13 Restrictions on Actions by Lenders; Sharing of Payments 

(a) Each of the Lenders agrees that it shall not, without the express written consent of Agent, and that it shall, to the extent it is
lawfully entitled to do so, upon the written request of Agent, set off against the Obligations, any amounts owing by such Lender to Borrower or any deposit accounts of Borrower now or hereafter maintained with such Lender. Each of the Lenders
further agrees that it shall not, unless specifically requested to do so in writing by Agent, take or cause to be taken any action, including, the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any
security interest in, any of the Collateral. 

  
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 (b) If, at any time or times any Lender shall receive (i) by payment, foreclosure, setoff,
or otherwise, any proceeds of Collateral or any payments with respect to the Obligations, except for any such proceeds or payments received by such Lender from Agent pursuant to the terms of this Agreement, or (ii) payments from Agent in excess
of such Lender’s Pro Rata Share of all such distributions by Agent, such Lender promptly shall (A) turn the same over to Agent, in kind, and with such endorsements as may be required to negotiate the same to Agent, or in immediately
available funds, as applicable, for the account of all of the Lenders and for application to the Obligations in accordance with the applicable provisions of this Agreement, or (B) purchase, without recourse or warranty, an undivided interest
and participation in the Obligations owed to the other Lenders so that such excess payment received shall be applied ratably as among the Lenders in accordance with their Pro Rata Shares; provided, however, that to the extent that such
excess payment received by the purchasing party is thereafter recovered from it, those purchases of participations shall be rescinded in whole or in part, as applicable, and the applicable portion of the purchase price paid therefor shall be
returned to such purchasing party, but without interest except to the extent that such purchasing party is required to pay interest in connection with the recovery of the excess payment. 

16.14 Agency for Perfection.     Agent hereby appoints each other Lender as its agent (and each Lender
hereby accepts such appointment) for the purpose of perfecting the Agent’s Liens in assets which, in accordance with Article 8 or Article 9, as applicable, of the Code can be perfected only by possession or control. Should any Lender obtain
possession or control of any such Collateral, such Lender shall notify Agent thereof, and, promptly upon Agent’s request therefor shall deliver possession or control of such Collateral to Agent or in accordance with Agent’s
instructions. 
 16.15 Payments by Agent to the Lenders.     All payments to be made by Agent to
the Lenders shall be made by bank wire transfer or internal transfer of immediately available funds pursuant to such wire transfer instructions as each party may designate for itself by written notice to Agent. Concurrently with each such payment,
Agent shall identify whether such payment (or any portion thereof) represents principal, premium, fees, or interest of the Obligations. 

16.16 Concerning the Collateral and Related Loan Documents.     Each member of the Lender Group authorizes
and directs Agent to enter into this Agreement and the other Loan Documents. Each member of the Lender Group agrees that any action taken by Agent in accordance with the terms of this Agreement or the other Loan Documents relating to the Collateral
and the exercise by Agent of its powers set forth therein or herein, together with such other powers that are reasonably incidental thereto, shall be binding upon all of the Lenders. 

16.17 Field Audits and Examination Reports; Confidentiality; Disclaimers by Lenders; Other Reports and Information.
    By becoming a party to this Agreement, each Lender: 
 (a) is deemed to have requested that Agent furnish
such Lender, promptly after it becomes available, a copy of each field audit or examination report (each a “Report” and collectively, “Reports”) prepared by or at the request of Agent, and Agent shall so furnish each
Lender with such Reports, 

  
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 (b) expressly agrees and acknowledges that Agent does not (i) make any representation or
warranty as to the accuracy of any Report, and (ii) shall not be liable for any information contained in any Report, 
 (c) expressly
agrees and acknowledges that the Reports are not comprehensive audits or examinations, that Agent or other party performing any audit or examination will inspect only specific information regarding Borrower and will rely significantly upon the
Books, as well as on representations of Borrower’s personnel, 
 (d) agrees to keep all Reports and other material, non-public
information regarding Borrower and its Subsidiaries and their operations, assets, and existing and contemplated business plans in a confidential manner in accordance with Section 17.7, and 

(e) without limiting the generality of any other indemnification provision contained in this Agreement, agrees: (i) to hold Agent and any
other Lender preparing a Report harmless from any action the indemnifying Lender may take or fail to take or any conclusion the indemnifying Lender may reach or draw from any Report in connection with any loans or other credit accommodations that
the indemnifying Lender has made or may make to Borrower, or the indemnifying Lender’s participation in, or the indemnifying Lender’s purchase of, a loan or loans of Borrower, and (ii) to pay and protect, and indemnify, defend and
hold Agent, and any such other Lender preparing a Report harmless from and against, the claims, actions, proceedings, damages, costs, expenses, and other amounts (including, attorneys’ fees and costs) incurred by Agent and any such other Lender
preparing a Report as the direct or indirect result of any third parties who might obtain all or part of any Report through the indemnifying Lender. 
 In
addition to the foregoing: (x) any Lender may from time to time request of Agent in writing that Agent provide to such Lender a copy of any report or document provided by Borrower to Agent that has not been contemporaneously provided by
Borrower to such Lender, and, upon receipt of such request, Agent promptly shall provide a copy of same to such Lender, (y) to the extent that Agent is entitled, under any provision of the Loan Documents, to request additional reports or
information from Borrower, any Lender may, from time to time, reasonably request Agent to exercise such right as specified in such Lender’s notice to Agent, whereupon Agent promptly shall request of Borrower the additional reports or
information reasonably specified by such Lender, and, upon receipt thereof from Borrower, Agent promptly shall provide a copy of same to such Lender, and (z) any time that Agent renders to Borrower a statement regarding the Loan Account, Agent
shall send a copy of such statement to each Lender. 
 16.18 Several Obligations; No
Liability.    Notwithstanding that certain of the Loan Documents now or hereafter may have been or will be executed only by or in favor of Agent in its capacity as such, and not by or in favor of the Lenders, any and all
obligations on the part of Agent (if any) to make any credit available hereunder shall constitute the several (and not joint) obligations of the respective Lenders on a ratable basis, according to their respective Commitments, to make an amount of
such credit not to exceed, in principal amount, at any one time outstanding, the amount of their respective Commitments. Nothing contained herein shall 

  
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confer upon any Lender any interest in, or subject any Lender to any liability for, or in respect of, the business, assets, profits, losses, or liabilities of any other Lender. Each Lender shall
be solely responsible for notifying its Participants of any matters relating to the Loan Documents to the extent any such notice may be required, and no Lender shall have any obligation, duty, or liability to any Participant of any other Lender.
Except as provided in Section 16.7, no member of the Lender Group shall have any liability for the acts of any other member of the Lender Group. No Lender shall be responsible to Borrower or any other Person for any failure by any other
Lender to fulfill its obligations to make credit available hereunder, nor to advance for it or on its behalf in connection with its Commitment, nor to take any other action on its behalf hereunder or in connection with the financing contemplated
herein. 
 16.19 Bank Product Providers.     Each Bank Product Provider shall be deemed a third party
beneficiary hereof and of the provisions of the other Loan Documents for purposes of any reference in a Loan Document to the parties for whom Agent is acting. Agent hereby agrees to act as agent for such Bank Product Providers and, by virtue of
entering into a Bank Product Agreement, the applicable Bank Product Provider shall be automatically deemed to have appointed Agent as its agent and to have accepted the benefits of the Loan Documents, and to have provided Agent with the same
authorizations, representations, acknowledgments and consents made by each Lender under the preceding Sections 16.1 through 16.18; it being understood and agreed that the rights and benefits of each Bank Product Provider under the Loan
Documents consist exclusively of such Bank Product Provider’s being a beneficiary of the Liens and security interests (and, if applicable, guarantees) granted to Agent and the right to share in payments and collections out of the Collateral as
more fully set forth herein. In addition, each Bank Product Provider, by virtue of entering into a Bank Product Agreement, shall be automatically deemed to have agreed that Agent shall have the right, but shall have no obligation, to establish,
maintain, relax, or release reserves in respect of the Bank Product Obligations and that if reserves are established there is no obligation on the part of Agent to determine or insure whether the amount of any such reserve is appropriate or not. In
connection with any such distribution of payments or proceeds of Collateral, Agent shall be entitled to assume no amounts are due or owing to any Bank Product Provider unless such Bank Product Provider has provided a written certification (setting
forth a reasonably detailed calculation) to Agent as to the amounts that are due and owing to it and such written certification is received by Agent a reasonable period of time prior to the making of such distribution. Agent shall have no obligation
to calculate the amount due and payable with respect to any Bank Products, but may rely upon the written certification of the amount due and payable from the relevant Bank Product Provider. In the absence of an updated certification, Agent shall be
entitled to assume that the amount due and payable to the relevant Bank Product Provider is the amount last certified to Agent by such Bank Product Provider as being due and payable (less any distributions made to such Bank Product Provider on
account thereof). Borrower may obtain Bank Products from any Bank Product Provider, although Borrower is not required to do so. Borrower acknowledges and agrees that no Bank Product Provider has committed to provide any Bank Products and that the
providing of Bank Products by any Bank Product Provider is in the sole and absolute discretion of such Bank Product Provider. Notwithstanding anything to the contrary in this Agreement or any other Loan Document, no provider or holder of any Bank
Product shall have any voting or approval rights hereunder (or be deemed a Lender) solely by virtue of its status as the provider or holder of such agreements or products or the Obligations owing thereunder, nor shall the consent of any such
provider or holder be required (other than in their capacities as Lenders, to the extent  

  
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applicable) for any matter hereunder or under any of the other Loan Documents (except the Bank Product Agreements of the applicable Bank Product Provider), including as to any matter relating to
the Collateral or the release of Collateral or Guarantors. 
  

	17.	GENERAL PROVISIONS. 

 17.1 Effectiveness.     This
Agreement shall be binding and deemed effective when executed by Borrower, Agent, and each Lender whose signature is provided for on the signature pages hereof. 

17.2 Section Headings.     Headings and numbers have been set forth herein for convenience only. Unless the
contrary is compelled by the context, everything contained in each Section applies equally to this entire Agreement. 
 17.3
Interpretation.     Neither this Agreement nor any uncertainty or ambiguity herein shall be construed against the Lender Group or Borrower, whether under any rule of construction or otherwise. On the contrary, this
Agreement has been reviewed by all parties and shall be construed and interpreted according to the ordinary meaning of the words used so as to accomplish fairly the purposes and intentions of all parties hereto. 

17.4 Severability of Provisions.     Each provision of this Agreement shall be severable from every other
provision of this Agreement for the purpose of determining the legal enforceability of any specific provision. 
 17.5
Counterparts; Electronic Execution.     This Agreement may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be
an original, and all of which, when taken together, shall constitute but one and the same Agreement. Delivery of an executed counterpart of this Agreement by telefacsimile or other electronic method of transmission shall be equally as effective as
delivery of an original executed counterpart of this Agreement. Any party delivering an executed counterpart of this Agreement by telefacsimile or other electronic method of transmission also shall deliver an original executed counterpart of this
Agreement but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Agreement. The foregoing shall apply to each other Loan Document mutatis mutandis. 

17.6 Revival and Reinstatement of Obligations.     If the incurrence or payment of the Obligations by
Borrower or any Guarantor or the transfer to the Lender Group of any property should for any reason subsequently be declared to be void or voidable under any state or federal law relating to creditors’ rights, including provisions of the
Bankruptcy Code relating to fraudulent conveyances, preferences, or other voidable or recoverable payments of money or transfers of property (each, a “Voidable Transfer”), and if the Lender Group is required to repay or restore, in
whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Lender Group is required or elects to repay or restore, and as to all
reasonable costs, expenses, and attorneys’ fees of the Lender Group related thereto, the liability of Borrower or such Guarantor automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never
been made. 

  
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 17.7 Confidentiality. 

(a) Agent and the Lenders each individually (and not jointly or jointly and severally) agree that material, non-public information regarding
Borrower and its Subsidiaries, their operations, assets, and existing and contemplated business plans shall be treated by Agent and the Lenders in a confidential manner, and shall not be disclosed by Agent and the Lenders to Persons who are not
parties to this Agreement, except: (i) to attorneys for and other advisors, accountants, auditors, and consultants to any member of the Lender Group, (ii) to Subsidiaries and Affiliates of any member of the Lender Group (including the Bank
Product Providers), provided that any such Subsidiary or Affiliate shall have agreed to receive such information hereunder subject to the terms of this Section 17.7, (iii) as may be required by statute, decision, or judicial or
administrative order, rule, or regulation, (iv) as may be agreed to in advance by Borrower or as requested or required by any Governmental Authority pursuant to any subpoena or other legal process, (v) as to any such information that is or
becomes generally available to the public (other than as a result of prohibited disclosure by Agent or the Lenders), (vi) in connection with any assignment, prospective assignment, sale, prospective sale, participation or prospective
participations, or pledge or prospective pledge of Agent’s or such Lender’s interest under this Agreement, provided that any such assignee, prospective assignee, purchaser, prospective purchaser, participant, prospective participant,
pledgee, or prospective pledgee shall have agreed in writing to receive such information hereunder subject to the terms of this Section 17.7(a), and (vii in connection with any litigation or other adversary proceeding involving parties
hereto which such litigation or adversary proceeding involves claims related to the rights or duties of such parties under this Agreement or the other Loan Documents. The provisions of this Section 17.7(a) shall survive for two
(2) years after the payment in full of the Obligations. 
 (b) Anything in this Agreement to the contrary notwithstanding, Agent may
provide information concerning the terms and conditions of this Agreement and the other Loan Documents to loan syndication and pricing reporting services. 

17.8 Lender Group Expenses.     Borrower agrees to pay any and all Lender Group Expenses promptly after
demand therefor by Agent and agrees that its obligations contained in this Section 17.8 shall survive payment or satisfaction in full of all other Obligations. 

17.9 USA Patriot Act.     Each Lender that is subject to the requirements of the USA PATRIOT Improvement and
Reauthorization Act of 2005 (Pub. L. 109-177) (the “Patriot Act”) hereby notifies Borrower that pursuant to the requirements of the Patriot Act, such Lender is required to obtain, verify and record information that identifies
Borrower, which information includes the name and address of Borrower and other information that will allow such Lender to identify Borrower in accordance with the Patriot Act. In addition, if Agent is required by law or regulation or internal
policies to do so, it shall have the right to periodically conduct (a) Patriot Act searches, OFAC/PEP searches, and customary individual background checks for HTGC or Borrower and (b) OFAC/PEP searches and customary individual background
checks for the senior management and key principals of HTGC or Borrower, and Borrower agrees to cooperate in respect of the conduct of such searches and further agrees that the reasonable costs and charges for such searches shall constitute Lender
Expenses hereunder and be for the account of Borrower. 

  
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 17.10 Integration.     This Agreement, together with the other
Loan Documents, reflects the entire understanding of the parties with respect to the transactions contemplated hereby and shall not be contradicted or qualified by any other agreement, oral or written, before the date hereof. The foregoing to the
contrary notwithstanding, all Bank Product Agreements, if any, are independent agreements governed by the written provisions of such Bank Product Agreements, which will remain in full force and effect, unaffected by any repayment, prepayments,
acceleration, reduction, increase, or change in the terms of any credit extended hereunder, except as otherwise expressly provided in such Bank Product Agreement. 

[Signature pages to follow.] 

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

			
	HERCULES FUNDING II LLC,
	a Delaware limited liability, as Borrower
		
	By:		 /s/ Manuel A. Henriquez

	Name:		Manuel A. Henriquez
	Title:		President
	
	 WELLS FARGO CAPITAL FINANCE, LLC,

a Delaware limited liability company formerly known as Wells Fargo Foothill, LLC,

as Agent and as a Lender

		
	By:		 /s/ Aharon Tarnavsky

	Name:		Aharon Tarnavsky
	Title:		Vice President

 [SIGNATURE PAGE TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT] 

 EXECUTION VERSION 

Schedule C-1 

Commitments 
 (as of the
Closing Date) 
  

					
	 Lender
	  	Commitment	 
	 Wells Fargo Capital Finance, LLC
	  	$	75,000,000	  
	 All Lenders
	  	$	75,000,000	  

 Schedule C-1 

 Schedule P-1 

Permitted Liens 
 None. 

Schedule P-1 

 Schedule R-1 

Required Asset Documents 
 With respect to
each Note Receivable that Borrower proposes be treated as an Eligible Note Receivable: 
 1. either (a) the original promissory note(s) (if any)
evidencing such Note Receivable, duly executed by the applicable Account Debtor as maker and payable to the order of the original lender who funded such Note Receivable, together with originals of all assignments or endorsements to make such Note
Receivable now payable to the order of Borrower, or (b) the written certification that there are no promissory notes evidencing such Note Receivable, duly executed by an Authorized Person of HTGC (provided, that if no original promissory note
is delivered with respect to any Note Receivable made or purchased by Borrower, then such failure shall be deemed to constitute a representation and warranty by both HTGC and the Borrower that there are no promissory notes evidencing such Note
Receivable and the delivery of neither (a) nor (b) shall be required); 
 2. a file-stamped copy of the related UCC financing statement(s) naming
the applicable Account Debtor as the debtor and the original lender or agent on behalf of such lender who funded such Note Receivable as secured party, together with file-stamped copy(ies) of UCC amendment(s) evidencing the ultimate assignment of
the secured party’s interest under such UCC financing statement(s) to Borrower; 
 3. the originals of any warrants issued in connection with such Note
Receivable, together with originals of all assignments or stock powers necessary to transfer all of such warrants to Borrower; 
 4. the originals of all
other agreements, documents, or instruments evidencing or securing such Note Receivable; and 
 5. (a) an original Assignment of Note with respect to each
original promissory note (if any) referred to in 1 above, executed by Borrower to the order of Lender or in blank, (b) an original Assignment of Warrant or stock power with respect to each warrant referred to in 3 above, executed by Borrower in
blank, and (c) an original assignment with respect to all of Borrower’s rights under the documents referred to in 4 above, executed by Borrower in blank. 

Schedule R-1

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