Document:

Exhibit
10.5

 

Execution
Copy

 

Amendment
to ASSET PURCHASE AND COLLABORATION AGREEMENT

 

This
Amendment (this “Amendment”) to the Asset Purchase and Collaboration Agreement, dated as of June 26, 2015,
is dated as of July 15, 2016, by and between Pfizer Research (NC), Inc. (f/k/a Icagen, Inc.), a Delaware corporation (“Pfizer”
or the “Seller”), and Icagen Inc. (f/k/a XRpro Sciences, Inc.), a Delaware corporation (“Icagen”
or the “Buyer”).

 

WHEREAS,
Pfizer and Icagen are parties to that certain Asset Purchase and Collaboration Agreement, dated as of June 26, 2015 (the “Original
Agreement”);

 

WHEREAS,
Icagen-T, Inc., a Delaware corporation and a wholly-owned subsidiary of Icagen (the “Icagen-T”) has entered
into an Asset Purchase Agreement with Sanofi US Services Inc. (“Sanofi”) pursuant to which Icagen-T will acquire
Sanofi’s high-throughput biology, screening and chemistry capabilities and research facility in Oro Valley, Arizona (collectively,
the “Oro Valley Assets”) (the “Sanofi Agreement”); and

 

WHEREAS,
in connection with the closing of the transactions contemplated by the Sanofi Agreement, Icagen-T and Sanofi will enter into a
Master Services Agreement, substantially in form of Exhibit A to the Sanofi Agreement (the “Master Services Agreement”);

 

WHEREAS,
pursuant to Section 5.3(d) of the Sanofi Agreement, as a condition to closing the transactions contemplated by the Sanofi Agreement,
Icagen-T must deliver to Sanofi a written acknowledgment from Pfizer that any amounts paid by Sanofi to Icagen-T pursuant to the
Master Services Agreement or other Ancillary Agreement (as defined in the Sanofi Agreement) and any revenue generated by Icagen-T
will be excluded for purposes of calculating the earnout payments owed by Icagen to Pfizer under the Original Agreement;

 

WHEREAS,
in order to satisfy the foregoing condition, Pfizer and Icagen desire to amend the Original Agreement in accordance with Section
11.2 thereof;

 

NOW,
THEREFORE, in consideration of the foregoing, and the representations, warranties and agreements contained herein, Buyer and Seller
hereby agree as follows:

 

1.          Representations
and Warranties of Buyer. Buyer hereby represents and warrants
to Seller, as of the date hereof and at the Effective Time, that (i) attached as Exhibit 10.1.2 to the Current Report on Form
8-K of Icagen is a true and correct copy of the Sanofi Agreement, with the exception of (a) the omission of certain information
subject to confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended, and (b) certain minor modifications
to the Sanofi Agreement and the exhibits thereto made subsequent to execution of the Sanofi Agreement, none of which will have
a material adverse impact on Pfizer, and such agreement is in full force and effect; (ii) Icagen-T is a wholly-owned subsidiary
of Icagen; (iii) in connection with Sanofi Agreement, Buyer has agreed with Sanofi that for a period of five years it will hold
the Oro Valley Assets in a different legal entity than the Purchased Assets and to not integrate the operations of the Oro Valley
Assets with the Purchase Assets, and (iv) the condition set forth in Section 5.3(d) of the Sanofi Agreement has not been modified
or waived.

 

    	 	1	 

     

    

 

2.          Amendments
to the Original Agreement.

 

1.1.       Section
1.1 of the Original Agreement is hereby amended by adding the following defined terms:

 

“Aggregate
Revenue” means consolidated revenue of Buyer and its Affiliates, calculated in accordance with GAAP consistently applied;
provided, however, that prior to the Integration Date, Aggregate Revenue will exclude amounts paid by Sanofi to Icagen-T under
the Sanofi Services Agreements or in connection with the operation by Icagen-T of the assets acquired under the Sanofi Agreement.

 

“Integration
Date” means the earlier of (i) the legal or operational integration by Buyer or its Affiliates of the Purchased Assets
with the Oro Valley Assets and (ii) the fifth anniversary of the closing of the Sanofi Agreement.

 

“Sanofi
Agreement” means the Asset Purchase Agreement, dated as of June 27, 2016, between Sanofi US Services, Inc. (“Sanofi”)
and Icagen-T, Inc. (the “Icagen-T”), pursuant to which Icagen-T will acquire Sanofi’s high-throughput
biology, screening and chemistry capabilities and research facility in Oro Valley, Arizona (the “Oro Valley Assets”)
and will provide services to Sanofi.

 

“Sanofi
Services Agreements” means the Master Services Agreement and other Ancillary Agreements (as such terms are defined in
the Sanofi Agreement) entered into by Icagen-T in connection with the Sanofi Agreement.

 

1.2.       Section
2.6(c) of the Original Agreement is hereby deleted in its entirety and replaced with the following:

 

“(c) In
addition to the Upfront Purchase Price and the Research Revenue Milestone, beginning in calendar year 2017, Buyer shall pay to
Seller quarterly earn out payments (“Earn Out Payments”, and together with the Upfront Purchase Price,
the “Purchase Price”) equal to the greater of (i) 10% of Aggregate Revenue for the relevant quarter or
(ii) $250,000.00, up to an aggregate maximum of $10 million in Earn Out Payments (the “Maximum Earn Out Payment”).
Earn Out Payments shall be payable within 60 days following the end of the applicable quarter. For the avoidance of doubt, the
first Earn Out Payment would be payable to Seller in May 2017 based on first quarter 2017 revenue.”

 

1.3.       The
Original Agreement is hereby amended by adding a new Section 7.11:

 

“Section
7.11 Exclusivity Prior to Integration Date. Buyer covenants and agrees that prior to the Integration Date Icagen-T will
not, and Buyer will cause Icagen-T not to, (i) run assays or perform other contract research services, in each case, that Buyer
could reasonably provide by utilizing the Purchased Assets, other than services performed or to be performed by Icagen-T for Sanofi
or its Affiliates under the Master Services Agreements or (ii) perform or engage in ion channel screening.”

 

    	 	2	 

     

    

 

3.          Miscellaneous.

 

3.1       Defined
Terms. Capitalized terms used in this Amendment that are not otherwise defined herein shall have the meanings such terms are
given in the Original Agreement.

 

3.2       Full
Force and Effect. This Amendment shall be effective upon the closing of the transactions contemplated under the Sanofi Agreement
(the “Effective Time”) and from and after the Effective Time the terms of the Original Agreement shall be amended
by this Amendment and this Amendment shall be deemed incorporated into the Original Agreement. After the Effective Time, the provisions
of the Original Agreement, as amended by this Amendment, shall remain in full force and effect. Where the Original Agreement is
not expressly amended, the terms of the Original Agreement will remain in force.

 

3.3       Entire
Agreement. After the Effective Time, the Original Agreement and this Amendment shall constitute the entire agreement, both
written and oral, between the parties with respect to the subject matter hereof, and any and all prior agreements with respect
to the subject matter hereof, either written or oral, expressed or implied, are superseded hereby, merged and canceled, and are
null and void and of no effect.

 

3.4       Counterparts.
This Amendment may be executed in one or more counterparts, each of which will be an original and all of which together will constitute
one instrument.

 

[Remainder
of page intentionally left blank]

 

    	 	3	 

     

    

 

IN
WITNESS WHEREOF, the parties have executed or caused this Amendment to be executed as of the Effective Time.

 

	 	PFIZER
    RESEARCH (NC), Inc.
	 	 
	 	By:
    	/s/
    Andrew Muratore
	 	Name:	Andrew
    Muratore 
	 	Title:	Vice
    President
	 	 	 
	 	ICAGEN
    INC.
	 	 
	 	By:	/s/
    Richard Cunningham
	 	Name:	Richard
    Cunningham
	 	Title:	Chief
    Executive Officer

 

 

 

4EX-10.1

 Exhibit 10.1 

Execution 

FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT 

THIS FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Amendment”) is entered into as of July 14, 2016, between and
among, on the one hand, the lender identified on the signature page hereof (the “Lender,” which Lender constitutes the “Required Lenders” under the Loan Agreement (as defined below), MUFG Union Bank, N.A., formerly known
as Union Bank, N.A., as the arranger and administrative agent for the Lenders (in such capacity, together with its successors and assigns in such capacity, the “Agent”), and, on the other hand, Hercules Funding III, LLC, a Delaware
limited liability company (the “Borrower”). 
 RECITALS 

WHEREAS, the Borrower, the Agent and the Lender have entered into that certain Loan and Security Agreement dated as of May 5, 2016 (as
the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Loan Agreement”), pursuant to which the Lender has agreed to make certain loans and other financial accommodations
to the Borrower subject to the terms and conditions thereof; and 
 WHEREAS, each of the parties hereto desires to amend and modify the Loan
Agreement in accordance with the terms of the Loan Agreement as set forth herein. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 SECTION
1.   Defined Terms. Capitalized terms used herein (including in the preamble and recitals above) but not otherwise defined herein shall have the respective meanings ascribed to such terms in the Loan Agreement. 

SECTION 2.   Amendments to Loan Agreement. Subject to the satisfaction of the conditions precedent set forth in
Section 3 hereof, the Loan Agreement is hereby amended as follows: 
 (a)   Section 1.1 of the Loan
Agreement is hereby amended by adding the following definitions in the appropriate alphabetical order: 
 “Adjusted Daily Reset
LIBOR Rate” means, for any date, the rate per annum determined by Agent by dividing (a) the Daily Reset LIBOR Rate for such date, by (b) 100% minus the Reserve Percentage. In no case shall the Adjusted Daily Reset LIBOR
Rate be less than 0%. 

 “Daily Reset LIBOR Rate” means, for any date, the rate determined by Agent to
be the per annum rate (rounded upward to the nearest one-hundredth of one percent (1/100%)) at which Dollar deposits in immediately available funds and in lawful money of the United States would be offered to Agent, on behalf of Lenders,
outside of the United States at approximately 11:00 a.m. (LIBOR time) on such date, for a one-month period. 
 (b) Section 1.1
of the Loan Agreement is hereby amended by amending and restating in their entirety the definitions of “Interest Period,” “LIBOR Rate Loan” and “Payment Date,” as follows: 

“Interest Period” means, as to each LIBOR Rate Loan (other than any LIBOR Rate Loan bearing interest at the Adjusted Daily
Reset LIBOR Rate), the period commencing on the date such LIBOR Rate Loan is disbursed or converted to or continued as a LIBOR Rate Loan and ending on the date one, three or six months thereafter, as selected by the Borrower in a written notice
to Agent; provided that: 
 (i) any Interest Period that would otherwise end on a day that is not a Business Day
shall be extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day; 

(ii) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no
numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and 

(iii) no Interest Period shall extend beyond the Maturity Date. 

“LIBOR Rate Loan” means each portion of an Advance that bears interest at (i) a rate determined by reference to the
LIBOR Rate pursuant to Borrower’s exercise of the LIBOR Option in accordance with Section 2.12, or (ii) the Adjusted Daily Reset LIBOR Rate. 

 “Payment Date” means the first
(1st) day of each calendar month, or such other day as may be agreed to by Borrower and Agent (with the consent of the Required Lenders) from time to time. 

(c)   The second sentence of Section 2.2(a) of the Loan Agreement is hereby amended and restated in its entirety to read
as follows: 
 Each Borrowing hereunder shall initially bear interest at the Adjusted Daily Reset LIBOR Rate. 

(d)   Section 2.5(a)(i) of the Loan Agreement is hereby amended and restated in its entirety as follows: 

(i) if the relevant Obligation is a LIBOR Rate Loan, at a per annum rate equal to (A) the LIBOR Rate or the Adjusted LIBOR Daily Reset
Rate, as applicable, plus (B) the LIBOR Rate Margin, and 
 (e)   Section 2.5(c) of the Loan Agreement is hereby
amended and restated in its entirety as follows: 
 (c)   Payment. Except to the extent, if any, provided to the contrary
in Section 2.10, Section 2.12, or elsewhere in this Agreement, interest and all other fees payable hereunder shall be due and payable, in arrears, (i) on each Payment Date that Obligations or Commitments are outstanding,
and (ii) on the Maturity Date. On or about ten (10) days prior to each Payment Date, the Agent will provide Borrower with an indicative statement detailing the amount of interest, fees and expenses payable on the immediately upcoming
Payment Date, which amounts shall be subject to modification as a result of changes occurring between the date of delivery of such statement and such Payment Date (and the Agent shall use commercially reasonable efforts to provide Borrower with
prompt written notice of any such modification(s) on or prior to such Payment Date). Borrower hereby authorizes Agent from time to time to debit (by ACH or otherwise) from any Borrower Account all interest and fees (when due and payable), 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). Borrower further authorizes Agent, from time to time with 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 and shall thereafter constitute Advances hereunder and shall accrue interest at
the rate then applicable to Advances hereunder. 
 (f)   Section 2.12(a) of the Loan Agreement is hereby amended and
restated in its entirety as follows: 
 (a)   LIBOR Election. Borrower may elect from time to time that all (or any
portion) of the Advances (other than Advances with respect to Agent Advances and Overadvances) bear interest at the LIBOR Rate, the Adjusted Daily Reset LIBOR Rate or the Base Rate. 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 its desired commencement of an Interest Period for all (or a portion) of the Advances (the “LIBOR Deadline”), elect
to exercise Borrower’s option (the “LIBOR Option”) to have interest on all (or any portion) of such Advances (other than Advances with respect to Agent Advances and Overadvances) determined for such Interest Period by reference
to the LIBOR Rate or the Adjusted Daily Reset LIBOR Rate. Notice of Borrower’s election of the LIBOR Option for any Interest Period, and (if applicable) the Interest Periods selected and the Advances subject to such Interest Periods, 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. There
shall be no more than five (5) Interest Periods outstanding at any time. 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 or such portion of the Advances then 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 Adjusted Daily Reset 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 determined by reference to the LIBOR Rate or the Adjusted Daily Reset 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. 

(g)   Section 2.12(e) of the Loan Agreement is hereby amended and restated in its entirety as follows: 

(e)   Compensation for Losses. Upon demand of any Lender (with a copy to the Agent) from time to time, Borrower shall
promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: 

(i)   any continuation, conversion, payment or prepayment of any LIBOR Rate Loan (other than any LIBOR Rate Loan
bearing interest at the Adjusted Daily Reset LIBOR Rate) on a day other than the last day of the Interest Period for such LIBOR Rate Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); 

(ii)   any failure by Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay,
borrow, continue or convert any LIBOR Rate Loan (other than any LIBOR Rate Loan bearing interest at the Adjusted Daily Reset LIBOR Rate) on the date or in the amount notified by Borrower; or 

(iii)   any assignment of a LIBOR Rate Loan (other than any LIBOR Rate Loan bearing interest at the Adjusted Daily
Reset LIBOR Rate) on a day other than the last day of the Interest Period therefor as a result of a request by Borrower pursuant to Section 15.2. 

 (h)   Exhibit L-1 to the Loan Agreement is hereby amended and restated in its
entirety in the form set forth on Annex 1 hereto. 
 SECTION 3.   Conditions. The effectiveness of this
Amendment is subject to the following conditions precedent: 
 (a)   the execution and delivery of this Amendment by the Borrower,
the Agent and the Lender; and 
 (b)   the receipt by the Agent of reimbursement or payment of all fees and expenses incurred by
the Agent in connection with this Amendment. 
 SECTION 4.   Representations and Warranties. The Borrower hereby
represents and warrants to the Agent and the Lender as follows: 
 (a)   the Borrower is duly organized and existing and in good
standing under the laws of the jurisdiction of its organization; 
 (b)   the Borrower has all requisite power and authority to own
and operate its properties, to carry on its business as now conducted and as proposed to be conducted, to enter into this Amendment and to carry out the transactions contemplated by the Loan Documents; 

(c)   the execution, delivery and performance by the Borrower of this Amendment has been duly authorized by all necessary action;

 (d)   each of the representations and warranties set forth in the Loan Agreement and the other Loan Documents are true and
correct in all material respects (without duplication of any materiality qualifiers) (except to the extent stated to relate to a specific earlier date, in which case such representations and warranties shall be true and correct in all material
respects (without duplication of any materiality qualifiers) as of such earlier date); 
 (e)   this Amendment constitutes the
legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms, subject to bankruptcy, insolvency and similar laws affecting the enforceability of creditors’ rights generally and to general
principles of equity; and 
 (f)   before and after giving effect to this Amendment, no Default or Event of Default has occurred
and is continuing. 
 SECTION 5.   Successors; Assigns. This Amendment shall be binding upon the Borrower, the
Lender and the Agent and their respective successors and assigns, and shall inure to the benefit of the Borrower, the Lender and the Agent and their successors and assigns. No other Person shall be a direct or indirect legal beneficiary of, or have
any direct or indirect cause 

 
of action or claim in connection with, this Amendment or any of the other Loan Documents. The Borrower may not assign this Amendment or any rights or duties hereunder without the Lenders’
prior written consent and any prohibited assignment shall be absolutely void ab initio. 
 SECTION 6.   CHOICE OF
LAW. THE VALIDITY OF THIS AMENDMENT, 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. 
 SECTION
7.   No Waiver. Nothing contained herein shall be deemed to constitute a waiver of compliance with any term or condition contained in the Loan Agreement or any of the other Loan Documents or constitute a course of conduct or
dealing among the parties. Nothing contained herein shall be deemed to constitute a waiver or forbearance with respect to any Default or Event of Default or be deemed to constitute a release or termination of any Obligations or any other obligation
of the Borrower. The Agent and the Lender reserve all rights, privileges and remedies under the Loan Documents. Except as amended hereby, the Loan Agreement and other Loan Documents remain unmodified and in full force and effect. This Amendment
shall be deemed to be a “Loan Document” for all purposes of the Loan Agreement and the other Loan Documents, and all references in the Loan Documents to the Loan Agreement shall be deemed to be references to the Loan Agreement as amended
hereby. 
 SECTION 8.   Reaffirmation. The Borrower hereby (a) ratifies and reaffirms all of its payment and
performance obligations, contingent or otherwise, under the Loan Agreement and each other Loan Document to which it is a party (after giving effect hereto), and (b) ratifies and reaffirms its grant of security interest and Liens to the Agent
and confirms and agrees that such security interests and Liens secure all of the Obligations as amended hereby. The Borrower hereby consents to this Amendment, and acknowledges that the Loan Agreement, as amended hereby, and each other Loan Document
remains in full force and effect and is hereby ratified and reaffirmed. 
 SECTION 9.   Miscellaneous. The
provisions of Sections 11.3, 17.1 through 17.5 and 17.10 of the Loan Agreement are hereby incorporated by reference and shall be as effective with respect to this Amendment as if such provisions were included herein in
their entirety. 
 - Remainder of page intentionally left blank; signature pages follow - 

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

			
	 HERCULES FUNDING III, LLC,
 a
Delaware limited liability, as Borrower

		
	 By:
	 	/s/ Melanie Grace
	 Name:

Title:
	 	 Melanie Grace
 General Counsel

  

			
	 MUFG UNION BANK, N.A.,
 as
Agent and as a Lender

		
	 By:
	 	/s/ James B. Goudy
	 Name:

Title:
	 	 James B. Goudy
 Director

 ANNEX 1 TO AMENDMENT 

EXHIBIT L-1 

FORM OF LIBOR NOTICE 
 MUFG UNION BANK,
N.A., as 
 Administrative Agent 
 601 East Potrero Grande Drive

 Monterey Park, California 91754 
 Attn: Commercial Loan
Operations 
 Ladies and Gentlemen: 
 Reference
hereby is made to that certain Loan and Security Agreement, dated as of May 5, 2016 (as amended, the “Loan Agreement”), by and among Hercules Funding III, LLC, a Delaware limited liability company (the
“Borrower”), the Lenders from time to time party thereto, and MUFG Union Bank, N.A., as Administrative Agent and Arranger (“Bank”). Capitalized terms used herein and not otherwise defined herein shall have the
meanings ascribed to them in the Loan Agreement. 
 This LIBOR Notice represents Borrower’s irrevocable request to elect the LIBOR
Option with respect to outstanding Advances eligible to be LIBOR Rate Loans [, and is a written confirmation of the telephonic notice of such election given to Agent – INCLUDE THIS LANGUAGE IF APPLICABLE]. 

 

	 	1)	If applicable, amount of outstanding Advances for which Adjusted Daily Reset LIBOR Rate is being elected: 

  

	 	$                        	

  

	 	2)	If applicable, amount of outstanding Advances for which the LIBOR Rate (other than the Adjusted Daily Reset LIBOR Rate) is being elected: 

 

					
	Amount of Advance:	  	Interest Period:	  	Start Date:
		  	[One, three, or six months]	  	
		  		  	
		  		  	

 This LIBOR Notice further confirms Borrower’s acceptance of the [LIBOR Rate, for such
Interest Period[s] OR the Adjusted Daily Reset LIBOR Rate] as determined in accordance with the Loan Agreement. 
  

			
		
	Dated:	 	 
	
	 HERCULES FUNDING III LLC, a Delaware

limited liability company, as Borrower

		
	By	 	 
	
Name:                         
                                         
            

Title:

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