Document:

EX-10.1

 Exhibit 10.1 

FIFTH AMENDMENT 

TO CREDIT AGREEMENT 

This Fifth Amendment to Credit Agreement (this “Amendment”) dated and effective as of May 5, 2021 (the
“Fifth Amendment Effective Date”) by and among ORGANOGENESIS HOLDINGS INC., a Delaware corporation (“Holdings”), ORGANOGENESIS INC., a Delaware corporation
(“Organogenesis”) and PRIME MERGER SUB, LLC, a Delaware limited liability company (“Prime”, and together with Holdings and Organogenesis, individually and collectively, the
“Borrower”), the several banks and other financial institutions from time to time party to this Agreement (each a “Lender” and, collectively, the “Lenders”), SILICON VALLEY
BANK (“SVB”), as the Issuing Lender and the Swingline Lender, and SVB, as administrative agent and collateral agent for the Lenders (in such capacities, together with any successors and assigns in such capacity,
the “Administrative Agent”). 
 W I T N E S S E T H: 

WHEREAS, Borrower, the Administrative Agent, the Issuing Lender and the Swingline Lender are parties to that certain Credit Agreement dated as
of March 14, 2019, as amended by that certain First Amendment to Credit Agreement dated as of November 12, 2019, as further amended by that certain Second Amendment to Credit Agreement dated as of February 13, 2020, as further amended
by that certain Third Amendment to Credit Agreement dated as of March 26, 2020, and as further amended by that certain Fourth Amendment to Credit Agreement dated as of March 31, 2021 (as amended, modified, supplemented or restated and in
effect from time to time, the “Credit Agreement”); 
 WHEREAS, the Borrower has requested that the Lenders and the
Administrative Agent agree to modify and amend certain terms and conditions of the Credit Agreement to, modify a financial covenant, subject to the terms and conditions contained herein; and 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as
follows: 
 1.    Capitalized Terms. All capitalized terms used herein and not otherwise defined shall have the
same meaning herein as in the Credit Agreement or in the other Loan Documents referred to in the recitals hereto, as applicable. 

2.    Amendments to the Credit Agreement. 
  

	 	(a)	 Financial Condition Covenants. The Credit Agreement is hereby amended in Section 7.1 by
deleting subsections (a) and (c) in their entirety and inserting the following in lieu thereof: 

“    (a) Minimum Consolidated Revenue. Permit Consolidated Revenue, measured on a trailing twelve month basis,
as of the last day of each quarterly period 

  
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set forth below to be less than the amount set forth below opposite such quarterly period: 
  

					
	 Quarterly Period

Ending
	  	Trailing Twelve Month
Consolidated Revenue	 
	 March 31, 2019
	  	$	200,000,000	 
	 June 30, 2019
	  	$	213,500,000	 
	 September 30, 2019
	  	$	221,250,000	 
	 December 31, 2019
	  	$	231,500,000	 
	 March 31, 2020
	  	$	235,000,000	 
	 June 30, 2020
	  	$	253,000,000	 
	 September 30, 2020
	  	$	260,000,000	 
	 December 31, 2020
	  	$	262,000,000	 
	 March 31, 2021
	  	$	265,589,489	 
	 June 30, 2021
	  	$	269,601,318	 
	 September 30, 2021
	  	$	306,135,527	 
	 December 31, 2021
	  	$	338,298,137	 

 The minimum Consolidated Revenue requirements for the quarterly periods ending March 31, 2022 and
thereafter shall be determined no later than March 31 of each applicable fiscal year, by the Required Lenders, in their reasonable discretion following review of the board-approved Projection delivered pursuant to
Section 6.2(c) hereof and consultation with Borrower; provided that such minimum Consolidated Revenue requirements shall in any event not be less than the greater of (i) the actual Consolidated Revenue
reported by Borrower for the corresponding fiscal quarter from the prior fiscal year, and (ii) 105% of the Consolidated Revenue threshold for the corresponding fiscal quarter from the prior fiscal year. 

(c)    Non-PuraPly Revenue Covenant. Permit Non-PuraPly Revenue, measured on a trailing twelve month
basis, as of the last day of each quarterly period set forth below to be less than the amount set forth below opposite such quarterly period: 
  

					
	Quarterly Period Ending	  	Trailing Twelve Month
Consolidated Revenue	 
	 September 30, 2020
	  	$	136,500,000	 
	 December 31, 2020
	  	$	145,000,000	 
	March 31, 2021	  	$	141,598,275	 
	 June 30, 2021
	  	$	147,170,323	 
	 September 30, 2021
	  	$	176,566,633	 
	 December 31, 2021
	  	$	205,350,818	 

  
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 The minimum Non-PuraPly Revenue requirements for the quarterly periods ending March 31,
2022 and thereafter shall be determined no later than March 31 of each applicable fiscal year, by the Required Lenders, in their reasonable discretion following review of the board-approved Projection delivered pursuant to
Section 6.2(c) hereof and consultation with Borrower; provided that such minimum Non-PuraPly Revenue requirements shall in any event not be less than the greater of (i) the Non-PuraPly Revenue threshold
for the corresponding fiscal quarter from the prior fiscal year, and (ii) 7.5% year-over-year growth, when compared to each corresponding fiscal quarter from the prior fiscal year.” 

3.    Conditions Precedent to Effectiveness. This Amendment shall not be effective until each of the following
conditions precedent have been fulfilled to the satisfaction of the Administrative Agent: 
  

	 	(a)	 This Amendment shall have been duly executed and delivered by the respective parties hereto. The Administrative
Agent shall have received a fully executed copy hereof and of each other document required hereunder. 

  

	 	(b)	 All necessary consents and approvals to this Amendment shall have been obtained. 

 

	 	(c)	 Prior to and immediately after giving effect to this Amendment, no Default or Event of Default shall have
occurred and be continuing. 

  

	 	(d)	 Prior to and immediately after giving effect to this Amendment, the representations and warranties herein and
in the Credit Agreement and the other Loan Documents shall be true and correct in all material respects on and as of the date hereof, as though made on such date (except to the extent that such representations and warranties relate solely to an
earlier date), in which case such representations and warranties shall have been true and correct in all material respects as of such earlier date. 

  

	 	(e)	 The Lenders and the Administrative Agent shall have received all fees required to be paid, and all expenses for
which invoices have been presented (including the reasonable fees and expenses of legal counsel required to be paid hereunder or under any other Loan Document), on or before the Fifth Amendment Effective Date. 

  
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 4.    Representations and Warranties. Each Loan Party hereby
represents and warrants to the Administrative Agent and the Lenders as follows: 
  

	 	(a)	 This Amendment is, and each other Loan Document to which it is or will be a party, when executed and delivered
by each Loan Party that is a party thereto, will be the legally valid and binding obligation of such Loan Party, enforceable against such Loan Party in accordance with its 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. 

  

	 	(b)	 The representations and warranties set forth in this Amendment, the Credit Agreement, as amended by this
Amendment and after giving effect hereto, and the other Loan Documents to which it is a party are true and correct in all material respects on and as of the date hereof, as though made on such date (except to the extent that such representations and
warranties relate solely to an earlier date), in which case such representations and warranties shall have been true and correct in all material respects as of such earlier date. 

5.    Payment of Costs and Fees. The Borrowers shall pay to the Administrative Agent all reasonable costs, out-of-pocket expenses, and fees and charges of every kind in connection with the preparation, negotiation, execution and delivery of this Amendment and any documents and
instruments relating hereto (which costs include, without limitation, the reasonable fees and expenses of any attorneys retained by the Administrative Agent or any Lender). 

6.    Choice of Law. This Amendment and the rights of the parties hereunder, shall be determined under, governed
by, and construed in accordance with the laws of the State of New York. 
 7.    Counterpart Execution. This
Amendment may be executed in any number of counterparts, all of which when taken together shall constitute one and the same instrument, and any of the parties hereto may execute this Amendment by signing any such counterpart. Delivery of an executed
counterpart of this Amendment by telefacsimile or other electronic method of transmission shall be equally as effective as delivery of an original executed counterpart of this Amendment. Any party delivering an executed counterpart of this Amendment
by telefacsimile or other electronic method of transmission also shall deliver an original executed counterpart of this Amendment, but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding
effect of this Amendment. 
 8.    Effect on Loan Documents. 

 

	 	(a)	 The Credit Agreement, as amended hereby, and each of the other Loan Documents shall be and remain in full force
and effect in accordance with their respective terms and hereby are ratified and confirmed in all respects. The execution, delivery, and performance of this Amendment shall not operate, except as expressly set forth herein, as a modification or
waiver of any right, power, or remedy of the Administrative Agent or any Lender under the Credit Agreement or any other Loan Document. The consents, modifications and other agreements herein are limited to the specifics hereof (including facts or
occurrences on which the same are based), shall not apply with respect to any facts or occurrences other than those on which the same are based, shall not excuse any non-compliance with the Loan Documents,

  
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and shall not operate as a consent or waiver to any matter under the Loan Documents. Except for the amendments to the Credit Agreement expressly set forth herein, the Credit Agreement and other
Loan Documents shall remain unchanged and in full force and effect. The execution, delivery and performance of this Amendment shall not operate as a waiver of or, except as expressly set forth herein, as an amendment of, any right, power or remedy
of the Lenders in effect prior to the date hereof. The amendments, consents, modifications and other agreements set forth herein are limited to the specifics hereof, shall not apply with respect to any facts or occurrences other than those on which
the same are based, and except as expressly set forth herein, shall neither excuse any future non-compliance with the Credit Agreement, nor operate as a waiver of any Default or Event of Default. To the extent
any terms or provisions of this Amendment conflict with those of the Credit Agreement or other Loan Documents, the terms and provisions of this Amendment shall control. 

 

	 	(b)	 To the extent that any terms and conditions in any of the Loan Documents shall contradict or be in conflict
with any terms or conditions of the Credit Agreement, after giving effect to this Amendment, such terms and conditions are hereby deemed modified or amended accordingly to reflect the terms and conditions of the Credit Agreement as modified or
amended hereby. 

  

	 	(c)	 This Amendment is a Loan Document. 

9.    Entire Agreement. This Amendment, and terms and provisions hereof, the Credit Agreement and the other Loan
Documents constitute the entire understanding and agreement between the parties hereto with respect to the subject matter hereof and supersedes any and all prior or contemporaneous amendments or understandings with respect to the subject matter
hereof, whether express or implied, oral or written. 
 10.    No Defenses. Each Loan Party hereby
absolutely and unconditionally releases and forever discharges the Administrative Agent, each Lender, and any and all participants, parent corporations, subsidiary corporations, affiliated corporations, insurers, indemnitors, successors and assigns
thereof, together with all of the present and former directors, officers, agents, attorneys and employees of any of the foregoing (each, a “Releasee” and collectively, the “Releasees”), from any and
all claims, demands or causes of action of any kind, nature or description, whether arising in law or equity or upon contract or tort or under any state or federal law or otherwise (each, a “Claim” and collectively, the
“Claims”), which such Loan Party has had, now has or has made claim to have against any such person for or by reason of any act, omission, matter, cause or thing whatsoever arising from the beginning of time to and including
the date of this Amendment which relates directly or indirectly, to the Credit Agreement or any other Loan Document, whether such claims, demands and causes of action are matured or unmatured or known or unknown, except for the duties and
obligations set forth in this Amendment and other than with respect to the acts or omissions of any Releasee that a court of competent jurisdiction determines to have resulted from the gross negligence, willful misconduct or bad faith of such
Releasee. 

  
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 11.    Ratification. The Loan Parties hereby restate, ratify and
reaffirm each and every term and condition set forth in the Credit Agreement and the Loan Documents effective as of the date hereof and as amended hereby. 

12.    Severability. In case any provision in this Amendment shall be invalid, illegal or unenforceable, such
provision shall be severable from the remainder of this Amendment and the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

[Signature pages follow] 

  
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 IN WITNESS WHEREOF, the
parties hereto have caused this Amendment to be duly executed and delivered by their proper and duly authorized officers as of the day and year first above written. 

 

			
	BORROWER:
	
	ORGANOGENESIS HOLDINGS INC.
		
	 By:
	 	 /s/ Henry Hagopian

	Name:	 	Henry Hagopian
	Title:	 	SVP Finance and Treasurer

  

			
	ORGANOGENESIS INC.
		
	By:	 	 /s/ Henry Hagopian

	Name:	 	Henry Hagopian
	Title:	 	SVP Finance and Treasurer

  

			
	PRIME MERGER SUB, LLC
		
	By:	 	 /s/ Henry Hagopian

	Name:	 	Henry Hagopian
	Title:	 	SVP Finance and Treasurer

 
			
	ADMINISTRATIVE AGENT:
	
	SILICON VALLEY BANK
		
	By:	 	 /s/ Kevin Longo

	Name:	 	Kevin Longo
	Title:	 	Head of Credit Solutions,
		 	Life Science & Healthcare Banking

 
			
	LENDERS:
	
	SILICON VALLEY BANK,
	as Issuing Lender, Swingline Lender and as a Lender

		
	By:	 	 /s/ Kevin Longo

	Name:	 	Kevin Longo
	Title:	 	Head of Credit Solutions,
		 	Life Science & Healthcare Banking

 
			
	ELM 2020-4 TRUST
	as a Lender
	
	By: MidCap Financial Services Capital Management, LLC, as Servicer
		
	By:	 	 /s/ John O’Dea

	Name:	 	John O’Dea
	Title:	 	Authorized Signatory

 
			
	MIDCAP FUNDING XIII TRUST
	as a Lender
	
	 By: Apollo Capital Management, L.P.,

its investment manager

	
	 By: Apollo Capital Management GP, LLC,

its general partner

		
	By:	 	 /s/ Maurice
Amsellem                                        
    

	Name:	 	Maurice Amsellem
	Title:	 	Authorized Signatory

 
			
	ELM 2020-3 TRUST
	as a Lender
	
	By: MidCap Financial Services Capital Management, LLC, as Servicer

		
	By:	 	 /s/ John O’Dea

	Name:	 	John O’Dea
	Title:	 	Authorized Signatory

 
			
	MIDCAP FUNDING IV TRUST
	as a Lender
	
	By: Apollo Capital Management, L.P., its investment manager
	
	By: Apollo Capital Management GP, LLC, its general partner
		
	By:	 	 /s/ Maurice
Amsellem                                        
    

	Name:	 	Maurice Amsellem
	Title:	 	Authorized SignatoryDocument

EXHIBIT 10.2

Execution Version

AMENDMENT No. 1, dated as of May 7, 2021 (this “Amendment”), to the Credit Agreement, dated as of October 14, 2020 (as amended, restated, amended and restated, extended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among BALDWIN RISK PARTNERS, LLC, a Delaware limited liability company (the “Borrower”), the Guarantors from time to time party thereto, the several Lenders from time to time party thereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent. Capitalized terms used but not defined herein having the meaning provided in the Credit Agreement (as amended hereby).
WHEREAS, Section 11.1(b)(viii) of the Credit Agreement permits amendments to Section 7.1 of the Credit Agreement with the written consent of the Majority Revolving Lenders;
WHEREAS, the parties hereto wish to amend the Credit Agreement on the terms and subject to the conditions set forth herein and in the Credit Agreement;
NOW, THEREFORE, in consideration of the premises and covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as fol-lows:
Section 1.    Amendment.  Section 7.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
“7.1    Financial Covenants.
(a)    The Borrower shall not, without the written consent of the Majority Revolving Lenders, permit the Total First Lien Net Leverage Ratio determined on a Pro Forma Basis as at the last day of (i) the Test Period ending December 31, 2020 to exceed 5.0 to 1.00 and (ii) any Test Period thereafter, commencing with the Test Period ending March 31, 2021, to exceed 6.00 to 1.00.
(b)    [Reserved].”
Section 2.    Representations and Warranties.  The Borrower represents and warrants to the Majority Revolving Lenders as of the Amendment No. 1 Effective Date that:
(a)    The Borrower is duly organized (or where applicable in the relevant jurisdiction, registered or incorporated), validly existing and (where applicable in the relevant jurisdiction) in good standing under the laws of the jurisdiction of its organization, registration or incorporation, as the case may be, (b) has the power and authority to own and operate its property, to lease the property it operates as lessee and to conduct the business in which it is currently engaged and (c) is in compliance with all Requirements of Law, except in the case of clauses (a) (except as it relates to the due organization and valid existence of the Borrower), (b) and (c) above, to the extent that the failure to comply therewith would not, in the aggregate, reasonably be expected to have a Material Adverse Effect.
#94403017v5

 

(b)    The Borrower has the power and authority, and the legal right, to enter into, make, deliver and perform this Amendment and the other Loan Documents to which it is a party.  The Borrower has taken all necessary organizational action to authorize the execution, delivery and performance of this Amendment.
(c)    The Borrower has duly executed and delivered this Amendment and upon such execution, this Amendment will constitute, a legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms, except as enforceability may be limited by such Legal Reservations.
(d)    Neither the execution, delivery or performance by the Borrower of this Amendment nor compliance with the terms and provisions hereof nor the other transactions contemplated hereby will (a) violate any Contractual Obligation of the Borrower or any Group Member (except, individually or in the aggregate, as would not reasonably be expected to result in a Material Adverse Effect), or violate any material Requirement of Law or the Organizational Documents of the Borrower and (ii) result in, or require, the creation or imposition of any Lien on any of its properties or revenues pursuant to any Requirement of Law, any such Organizational Documents or any such Contractual Obligation (other than the Liens created by the Security Documents and other than any other Permitted Liens) except, individually or in the aggregate, as would not reasonably be expected to result in a Material Adverse Effect.
(e)    Before and after giving effect to this Amendment, each of the representations and warranties made by the Borrower herein or pursuant to the Loan Documents are true and correct in all material respects (except where such representations and warranties are already qualified by materiality, in which case such representation and warranty are accurate in all respects) on and as of the date hereof as if made on and as of the date hereof, except to the extent such representations and warranties expressly relate to an earlier date, in which case such representations and warranties are true and correct in all material respects (except where such representations and warranties are already qualified by materiality, in which case such representation and warranty are accurate in all respects) as of such earlier date.
(f)    At the time of and after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing.
Section 3.    Conditions to Effectiveness of Amendment.  This Amendment shall become effective on the first Business Day on which all of the following conditions are satisfied (the “Amendment No. 1 Effective Date”):
(a)    The Administrative Agent shall have received (i) from the Administrative Agent, (ii) from the Majority Revolving Lenders and (iii) from the Borrower, either (x) a counterpart of this Amendment signed on behalf of such party or (y) written evidence satisfactory to the Administrative Agent (which may include telecopy or other electronic transmission of a signed signature page of this Amendment) that such party has signed a counterpart of this Amendment; and
2

 

(b)    The Agent shall have received all fees and other amounts due and payable on or prior to the Amendment No. 1 Effective Date, including, to the extent invoiced at least three (3) Business Days prior to the Amendment No. 1 Effective Date, reimbursement or payment of all out-of-pocket expenses (including reasonable fees, charges and disbursements of counsel (not to exceed $10,000 in connection with this Amendment)) required to be reimbursed or paid by any Loan Party pursuant to Section 11.5(a) of the Credit Agreement.
Section 4.    Counterparts.  This Amendment may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which, when taken together, shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Amendment by electronic imaging shall be as effective as delivery of a manually executed counterpart of this Amendment. The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to this Amendment and the transactions contemplated hereby shall be deemed to include Electronic Signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 
Section 5.    Governing Law; Submission to Jurisdiction; Waivers, Waivers of Jury Trial.  The applicable law, submission to jurisdiction and waiver provisions set forth in Sections 11.13, 11.14 and 11.18 of the Credit Agreement shall apply to this Amendment, mutatis mutandis.
Section 6.    Headings.  The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.
Section 7.    Effect of Amendment.  This Amendment shall not constitute a novation of the Credit Agreement or any of the Loan Documents.  Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the Agents under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other provision of the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect.  By executing and delivering a copy hereof, the Borrower hereby consents to this Amendment and the transactions contemplated hereby and hereby ratifies and reaffirms its pledges and grants of security interests, as applicable, under and subject to the terms of each of the Loan Documents to which it is party, and agrees that, after giving effect to this Amendment, such pledges and grants of security interests, and the terms of each of the Security Documents to which it is a party, shall continue to be in full force and effect, including to secure the Obligations. For the avoidance of doubt, on and after the Amendment No. 1 Effective Date, this Amendment shall for all purposes constitute a “Loan Document”. 
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
3

 

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

									
		BALDWIN RISK PARTNERS, LLC, as the Borrower
			
		By:	/s/ Trevor Baldwin
			Name: Trevor Baldwin
			Title: Authorized Representative
			

[BRP - Signature Page to Amendment No. 1]

 

									
		JPMORGAN CHASE BANK, N.A., as
		Administrative Agent and as Revolving Agent
			
		By:	/s/ Edyn Hengst
			Name: Edyn Hengst
			Title: Authorized Officer
			

[BRP - Signature Page to Amendment No. 1]

 

									
		BANK OF AMERICA, N.A., as Revolving Agent
		
			
		By:	/s/ Cameron Cardozo
			Name: Cameron Cadozo
			Title: Senior Vice President
			

[BRP - Signature Page to Amendment No. 1]

 

									
		Wells Fargo Bank, NA, as Revolving Lender
		
			
		By:	/s/ William R. Goley
			Name: William R. Goley
			Title: Managing Director
			

[BRP - Signature Page to Amendment No. 1]

 

									
		Capital One, National Association, as Revolving
		Lender
			
		By:	/s/ Thomas Lawler
			Name: Thomas Lawler
			Title: Senior Vice President
			

[BRP - Signature Page to Amendment No. 1]

 

									
		Cadence Bank, N.A., as Revolving Lender
		
			
		By:	/s/ Leslie Fredericks
			Name: Leslie Fredericks
			Title: Senior Vice President
			

[BRP - Signature Page to Amendment No. 1]

 

									
		Lake Forest Bank & Trust Company, N.A., a

		subsidiary of Wintrust Financial Corporation, as Revolving

		Lender
			
		By:	/s/ Lena Dawson
			Name: Lena Dawson
			Title: Senior Vice President
			

[BRP - Signature Page to Amendment No. 1]

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