Document:

lpth_ex101.htm

EXHIBIT 10.1
     
 SECOND AMENDMENT
  
 TO
  
 LOAN AGREEMENT
  
 Dated February 26, 2019
  
 Between
  
 LIGHTPATH TECHNOLOGIES, INC.,
  a Delaware corporation
  
 and
  
 BANKUNITED, N.A., 
 a national banking association
  
 Dated as of December _20, 2021
    
 	 
	
	

	 

    
 SECOND AMENDMENT TO LOAN AGREEMENT
  
 THIS SECOND AMENDMENT TO LOAN AGREEMENT (“Second Amendment”) is made as of November , 2021, by and between LIGHTPATH TECHNOLOGIES, INC., a Delaware corporation, (“Borrower”), and BANKUNITED, N.A., a national banking association (“Lender”).
  
 RECITALS
  
 A. Borrower and Lender are parties to a Loan Agreement dated as of February 26, 2019 (the “Loan Agreement”) as amended by First Amendment to Loan Agreement dated as of May 6, 2019, but effective as of February 26, 2019 (the “First Amendment”).
  
 B. Lender has issued covenant waiver letters to Borrower waiving Borrower’s non- compliance with certain loan covenants set forth in the Loan Agreement.
  
 C. As a result of the issuance of the covenant waiver letters Borrower and Lender have elected to further modify the terms and conditions of the Loan Agreement as more particularly set forth herein.
  
 NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows:
  
 1. Recitals; Defined Terms. The Recitals set forth above are true and correct and are incorporated herein by reference. Unless otherwise defined, all initially capitalized terms in this Second Amendment shall be as defined in the Loan Agreement.
  
 2. Extended Maturity Dates; Exit Fee. The Maturity Dates of the Revolving Credit Facility and Term Loan Facility are extended from February 26, 2022 to April 15, 2023. After April 15, 2023 Borrower will also pay an exit fee of four percent (4%) on the outstanding principal balance then due under each Facility.
  
 3. Termination of Guidance Line Facility. The Guidance Line Facility is terminated and as a result the Guidance Line Note is null and void.
  
 4. Lender Approval of Advances. All Advances requested by Borrower under the Revolving Credit Facility require specific Lender approval, which may be withheld in Lender’s sole and absolute discretion. The parties acknowledge that as of the date of this Second Amendment there are no amounts outstanding under the Revolving Credit Facility.
  
 5. Term Loan Note Payments. Borrower shall continue to make the monthly payments set forth in Section 2.2b of the Loan Agreement on the first day of each month until November 1, 2022. Commencing on November 1, 2022, and continuing on the first day of each month thereafter until the Maturity Date set forth above, Borrower shall make monthly payments of One Hundred Thousand Dollars ($100,000.00), with each such payment applied first to interest, costs and expenses and then to principal.
   
 	  
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 6. Term Loan Balance. The parties acknowledge that as of the date of this Second Amendment the outstanding principal balance of the Term Loan Note is $4,214,787.61.
  
 7. Change in Interest Rate. Beginning August 1, 2022 (or prior thereto if an Event of Default occurs and is continuing) the Interest on all outstanding indebtedness shall be the Default Rate.
  
 8. Financial Covenant Waivers. Lender waives compliance with (but not the reporting of) the Financial Covenants set forth in Section 6.8 of the Loan Agreement for the periods ending December 31, 2021, March 31, 2022 and June 30, 2022.
  
 9. Restructuring Fee and Expenses. Concurrently with the execution of this Second Amendment Borrower shall pay Lender a Fifty Thousand Dollar ($50,000.00) restructuring fee, together with all fees, costs and expenses incurred by Lender in connection herewith, including, but not limited to, Lender’s legal fees and costs, third party appraisals and costs of searches and due diligence expenses.
  
 10. Credit Card Termination. On or before January 31, 2022 Borrower shall deliver to Lender a corporate credit card cancellation letter terminating the usage of all corporate credit cards previously issued by or through Lender and pay all amounts then outstanding on such accounts.
  
 11. Conversion of Interest Rate. Beginning December 20, 2021 the interest rates on each Facility shall be Lender’s then prime rate of interest minus fifty (50) basis points, adjusted by any change in Lender’s prime rate.
  
 12. Ratification of Guaranties. As a material inducement to Lender to enter into this Second Amendment, each Guarantor hereby agrees as follows:
  
 (a) Guarantor acknowledges the continuing validity and effectiveness of the Guaranty Agreement and any other agreements, documents, or instruments securing or otherwise relating to the Guaranties previously executed and delivered by Guarantor (including without limitation any environmental indemnity agreement);
  
 (b) Guarantor hereby joins in this Second Amendment for the purpose of consenting to: (i) this Second Amendment and all other matters, terms and conditions stated in this Second Amendment, and any other agreement, instrument or document executed simultaneously herewith;
  
 (c) No offsets, defenses or counterclaims exist with respect to Guarantor’s obligations under the Guaranty Agreement;
    
 	 
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 (d) Guarantor, to the fullest extent permitted by law, hereby waives any claim or other right which Guarantor might now have or hereafter may acquire against Borrower, which arises from the existence or performance of Guarantors’ liability or other obligations under each Guaranty Agreement which Guarantors have executed in favor of Lender, including, without limitation, any right of subrogation, reimbursement, exoneration, contribution, indemnification, and any right to participate in any claim or remedy of Lender against Borrower or any of the Collateral or any other property securing the Loan, whether or not such claim, remedy, or right arises in equity, or under contract, statute, or common law; and
  
 (e) The execution, delivery, and performance by Guarantor of this Second Amendment and all documents and agreements of Guarantor relating hereto (i) are within the duly authorized power of Guarantor, (ii) have been duly authorized by all requisite action, and (iii) will not violate any provision of law, any order of any court or other agency of government, or the terms and provisions of any court or other agency of government, or the terms and provisions of any agreement with any third party or any instrument under which Guarantor is organized and constituted.
  
 13. Affirmation of Loan Documents. Borrower further hereby affirms each of its covenants and obligations under the Loan Documents and acknowledges that Lender has fully complied with each of its covenants and obligations under the Loan Documents. Borrower acknowledges that it has no defenses, set offs or counterclaims to its obligations under any of the Loan Documents.
  
 14. Events of Default. Failure to comply in any respect with any term, condition or undertaking contained in this Second Amendment shall constitute an event of default by Borrower under this Second Amendment and each of the Loan Documents, as applicable.
  
 15. Release.
  
 (a) As a material inducement to Lender to enter into this Second Amendment, each of Borrower and Guarantors (each an “Obligor”) hereby releases and discharges Lender and each of its agents, employees, directors, officers, attorneys, accountants, affiliates, representatives, receivers, trustees, subsidiaries, predecessors, successors and assigns (collectively, the “Released Parties”) from all claims, damages, losses, demands, liabilities, obligations, actions and causes of action whatsoever (whether arising in contract or in tort, and whether at law or in equity), which each Obligor may now have or claim to have against the Released Parties, whether known or unknown, matured or contingent, liquidated or unliquidated, arising from, in connection with, or in any way concerning or relating to (i) the Loan (ii) the Loan Documents (iii) this Second Amendment, or (iv) any action or inaction of any person or entity released hereunder with respect to the Loan, the Loan Documents, and this Second Amendment (collectively “Claims”), except to the extent resulting from acts first arising after the execution and delivery of this Second Amendment and which are caused solely by Lender’s gross negligence or willful misconduct.
    
 	 
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 (b) In connection herewith, each Obligor hereby acknowledge that factual matters now unknown to it may have given or may hereafter give rise to Claims which are presently unknown, unanticipated and unsuspected, and it further agrees, represents and warrants that this release has been negotiated and agreed upon in light of that realization and that it nevertheless hereby intends to release, discharge and acquit the Released Parties from any such unknown Claims.
  
 (c) Each Obligor represents and warrants that it has not heretofore assigned or transferred, or purported to assign or to transfer, to any person any Claim released hereunder or any portion thereof or interest therein, and each Obligor agrees to indemnify, defend and hold the Released Parties harmless from and against any and all claims based on or arising out of any such assignment or transfer or purported assignment or transfer.
  
 16. Waiver of Jury Trial. EACH OBLIGOR AND LENDER HEREBY EXPRESSLY WAIVE ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHT, POWER, OR REMEDY UNDER OR IN CONNECTION WITH THIS SECOND AMENDMENT OR ANY LOAN DOCUMENT OR UNDER OR IN CONNECTION WITH ANY AMENDMENT, INSTRUMENT, DOCUMENT, OR AGREEMENT DELIVERED OR WHICH MAY IN THE FUTURE BE DELIVERED IN CONNECTION HEREWITH OR THEREWITH OR ARISING FROM ANY LENDING RELATIONSHIP EXISTING IN CONNECTION WITH THIS SECOND AMENDMENT OR ANY LOAN DOCUMENT, AND AGREE THAT ANY SUCH ACTION SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY. THE TERMS AND PROVISIONS OF THIS SECTION CONSTITUTE A MATERIAL INDUCEMENT FOR THE PARTIES ENTERING INTO THIS SECOND AMENDMENT.
  
 Except as amended hereby the Loan Agreement remains in full force and effect.
  
 [SIGNATURE PAGES FOLLOW]
   
 	 
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 IN WITNESS WHEREOF the parties have executed this Second Amendment as of the date first written above.
  
 	 	BORROWER:	
	  
	  
	  

	  
	 LIGHTPATH TECHNOLOGIES, INC.,
 a Delaware corporation
	  

	 	 	 	 
		By:	/s/ Sam Rubin 	
	  
	  
	Sam Rubin, President 	 
	 	 		 
	 	 LENDER:
	 
	  
	  
	  

	  
	 BANKUNITED, N.A., a national banking association
	  

	  
		  
	  

	  
	 By: 
	 /s/ Monica Antongeorgi 
	  

	  
	  
	 Monica Antongeorgi, SVP
	  

	  
	  
	  
	  

	  
	 The following Guarantors acknowledge and consent to this Second Amendment as of the date first written above.
	  

	  
	  
	  

	  
	 GUARANTORS:
	  

	  
	  
	  

	  
	 GELTECH INC., a Delaware corporation
	  

	  
	  
	  

	  
	 By: 
	 /s/ Sam Rubin 
	  

	  
	  
	 Sam Rubin, President
	  

	  
	  
	  
	  

	  
	 ISP OPTICS CORPORATION, a New York corporation
	  

	  
	  
	  

	  
	 By: 
	 /s/ Sam Rubin
	  

	  
	  
	 Sam Rubin, President
	  

   
 	 
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	 LIGHTPATH OPTICAL INSTRUMENTATION (SHANGHAI) CO., LTD., a company formed under the law of the People’s Republic of China
	  

	  
	  
	  

	  
	 By:
	 /s/ Sam Rubin 
	  

	  
	  
	  
	  

	  
	 LIGHTPATH OPTICAL INSTRUMENTATION (ZHENJIANG) CO., LTD., a company formed under the law of the People’s Republic of China
	  

	  
	  
	  

	  
	By: 	 /s/ Sam Rubin
	  

	  
	  
	  
	  

	  
	 ISP OPTICS LATVIA, SIA, a company formed under the law of the Republic of Latvia
	  

	  
	  
	  

	  
	 By: 
	 /s/ Sam Rubin
	  

    	 
	6Exhibit
4.1

 

	NUMBER

    
	 	UNITS
	 	 	 
	SEE
    REVERSE FOR CERTAIN DEFINITIONS	AETHERIUM
    ACQUISITION CORP.	 

 

CUSIP
[●]

 

UNITS
CONSISTING OF ONE SHARE OF CLASS A COMMON STOCK

AND ONE WARRANT

 

THIS
CERTIFIES THAT ____________________________________________________________________________ is
the owner of ____________________________________________________________________________Units.

 

Each Unit (“Unit”) consists of one share of Class A common
stock, with a par value $0.0001 per share (“Class A Common Stock”), of Aetherium Acquisition Corp., a Delaware corporation
(the “Company”), and one redeemable warrant (“Warrant”). Each Warrant entitles the holder thereof to purchase
one share of Class A Common Stock at a price of $11.50 per full share (subject to adjustment), upon the later to occur of (i) the Company’s
completion of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination
with one or more businesses (a “Business Combination”) or (ii) one year from the date of the prospectus relating to the Company’s
initial public offering. The shares of Class A Common Stock and Warrants comprising the Units represented by this certificate are not
transferable separately prior to the fifty-second (52nd) day after the date of the prospectus relating to the Company’s initial
public offering, unless EF Hutton, division of Benchmark Investments, LLC, determines that an earlier date is acceptable, but in no event
will the shares of Class A Common Stock and Warrants be traded separately until the Company files with the U.S. Securities and Exchange
Commission (the “SEC”) a current report on Form 8-K which includes an audited balance sheet reflecting the receipt by the
Company of the gross proceeds from its initial public offering including the proceeds received by the Company from the exercise of the
over-allotment option thereto, if the over-allotment option is exercised. If the over-allotment option is exercised after the date of
the prospectus, we will file an amendment to the Form 8-K or a new Form 8-K to provide updated financial information to reflect the exercise
of the over-allotment option. We will also include in the Form 8-K, or amendment thereto, or in a subsequent Form 8-K, information indicating
if the underwriters has allowed separate trading of the shares of Class A Common Stock and Warrants prior to the 52nd day after the date
of the prospectus.

 

The
terms of the Warrants are governed by a Warrant Agreement, dated as of  [●], 2021, between the Company and Continental Stock
Transfer & Trust Company, as Warrant Agent, and are subject to the terms and provisions contained therein, all of which terms and
provisions the holder of this certificate consents to by acceptance hereof. Copies of the Warrant Agreement are on file at the office
of Continental Stock Transfer & Trust Company at 1 State Street, 30th Floor, New York, New York 10004, and are available to any Warrant
holder on written request and without cost.

 

This
certificate is not valid unless countersigned by the Transfer Agent and Registrar of the Company.

 

Witness
the facsimile seal of the Company and the facsimile signatures of its duly authorized officers.

 

This
Unit Certificate shall be governed and construed in accordance with the internal laws of the State of New York, without regard to conflicts
of laws principles thereof.

 

[Seal]

 

	By	 	 	 
	 	 	 	 
	 	Chief
    Executive Officer or Co-Chief Executive Officer, as applicable	 	Chief
    Financial Officer

 

    	 

    	 

    

 

Aetherium
Acquisition Corp.

 

The
Company will furnish without charge to each stockholder who so requests, a statement of the powers, designations, preferences and relative,
participating, optional or other special rights of each class of shares or series thereof of the Company and the qualifications, limitations,
or restrictions of such preferences and/or rights.

 

The
following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written
out in full according to applicable laws or regulations:

 

	 	TEN
    COM –	 	as
    tenants in common	 	UNIF
    GIFT MIN ACT – _____ 	Custodian
    _____
	 	TEN
    ENT –	 	as
    tenants by the entireties	 	                                           (Cust)	                  (Minor)
	 	JT
    TEN – 	 	as
    joint tenants with right of survivorship and not as tenants in common

     
	 	under Uniform Gifts to Minors Act ____________________

(State)

 

Additional
Abbreviations may also be used though not in the above list.

 

For
value received, ___________________________ hereby sell(s), assign(s) and transfer(s) unto

 

	PLEASE
    INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE(S)	 
	 

                                                                                 
	 

 

 

(PLEASE
PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE(S))

 

 

	 	 Units

 

represented
by the within Certificate, and do(es) hereby irrevocably constitute and appoint

 

Attorney
to transfer the said Units on the books of the within named Company will full power of substitution in the premises.

 

	Dated	 	 	 	 
	 	 	 	 	 
	 	 	 
	 	Notice:	The
    signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without
    alteration or enlargement or any change whatever.

 

Signature(s)
Guaranteed:

 

	 	 
	THE
    SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT
    UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 OF THE SECURITIES EXCHANGE
    ACT OF 1934, AS AMENDED (OR ANY SUCCESSOR RULE)).	 

 

As
more fully described in the Company’s final prospectus for its initial public offering dated             ,
2021, the holder(s) of this certificate shall be entitled to receive a pro-rata portion of certain funds with respect to the underlying
common stock from the trust account established in connection with the Company’s initial public offering only in the event of the
Company’s liquidation upon failure to consummate a business combination or if the holder(s) seek(s) to convert his, her or its
respective common stock underlying the unit upon consummation of, or tender his, her or its shares in a tender offer in connection with,
such business combination or in connection with certain amendments to the Company’s Amended and Restated Certificate of Incorporation.
In no other circumstances shall the holder have any right or interest of any kind in or to the trust account.

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