Document:

Exhibit 10.3

 

NEITHER THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.

 

	
Warrant   Stock: 3,000,000
    	
Initial   Exercise Date: March 24, 2012
    
	
Warrant   No. W-2012-WT-1
    	
 
    

 

COMMON STOCK PURCHASE WARRANT

 

To Purchase 3,000,000 Shares of Common Stock of

ONCOSEC MEDICAL INCORPORATED

 

THIS IS TO CERTIFY THAT Inovio Pharmaceuticals Inc., or registered assigns (the “Holder”), is entitled, during the Exercise Period (as hereinafter defined), to purchase from OncoSec Medical Incorporated, a Nevada corporation (the “Company”), the Warrant Stock (as hereinafter defined and subject to adjustment as provided herein), in whole or in part, at a purchase price of $1.00 per share, subject to adjustment as provided herein (the “Exercise Price”), all on and subject to the terms and conditions hereinafter set forth.

 

1.                                      Definitions.  As used in this Warrant, the following terms have the respective meanings set forth below:

 

“Affiliate” means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Business Day” means any day except Saturday, Sunday and any day that shall be a legal holiday or a day on which banking institutions in the State of California generally are authorized or required by law or other government actions to close.

 

“Change of Control” means the (i) acquisition by an individual or legal entity or group (as set forth in Section 13(d) of the Exchange Act) of more than one-half of the voting rights or equity interests in the Company; or (ii) sale, conveyance, or other disposition of all or substantially all of the assets, property or business of the Company or the merger into or

 

 

consolidation with any other corporation (other than a wholly owned subsidiary corporation) or effectuation of any transaction or series of related transactions where holders of the Company’s voting securities prior to such transaction or series of transactions fail to continue to hold at least 50% of the voting power of the Company.

 

“Closing Date” means the date on which this Warrant is duly executed by the Company and delivered to the Holder hereof.

 

“Commission” means the Securities and Exchange Commission or any other federal agency then administering the Securities Act and other federal securities laws.

 

“Common Stock” means (except where the context otherwise indicates) the Common Stock, $0.0001 par value per share, of the Company as constituted on the Closing Date, and any capital stock into which such Common Stock may thereafter be changed or converted, and shall also include (i) capital stock of the Company of any other class (regardless of how denominated) issued to the holders of shares of Common Stock upon any reclassification thereof which is also not preferred as to dividends or assets on liquidation over any other class of stock of the Company and which is not subject to redemption and (ii) shares of common stock of any successor or acquiring corporation received by or distributed to the holders of Common Stock of the Company in the circumstances contemplated by Section 4.4.

 

“Daily Market Price” means, in respect of any share of Common Stock on any date herein specified, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted on a national securities exchange, the closing sales price of the Common Stock for such date (or the nearest preceding date) on the national securities exchange on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time), (b)  if the Common Stock is not then listed or quoted on a national securities exchange, the closing sales price of the Common Stock for such date (or the nearest preceding date) on the OTC Bulletin Board, (c) if the Common Stock is not then listed or quoted for trading on the OTC Bulletin Board and if prices for the Common Stock are then reported in the “Pink Sheets” published by Pink OTC Markets, Inc. (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Company and reasonably acceptable to the Holder.

 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, or any similar federal statute, and the rules and regulations of the Commission thereunder, all as the same shall be in effect from time to time.

 

“Exercise Period” means the period during which this Warrant is exercisable pursuant to Sections 2.1 or 2.2.

 

“Expiration Date” means March 24, 2017.

 

“GAAP” means generally accepted accounting principles in the United States of America as from time to time in effect.

 

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“Person” means any individual, sole proprietorship, partnership, joint venture, trust, incorporated organization, association, corporation, limited liability company, institution, public benefit corporation, entity or government (whether federal, state, county, city, municipal or otherwise, including, without limitation, any instrumentality, division, agency, body or department thereof).

 

“Securities Act” means the Securities Act of 1933, as amended, or any similar federal statute, and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time.

 

“Trading Day” means any day on which the primary market on which shares of Common Stock are listed or quoted is open for trading.

 

“Transfer” means any disposition of any Warrant or Warrant Stock or of any interest in either thereof, which would constitute a sale thereof within the meaning of the Securities Act.

 

“Warrants” means this Warrant and all warrants issued upon transfer, division or combination of, or in substitution for, any thereof. All Warrants shall at all times be identical as to terms and conditions and date, except as to the number of shares of Common Stock for which they may be exercised.

 

“Warrant Price” means an amount equal to (i) the number of shares of Common Stock being purchased upon exercise of this Warrant pursuant to Sections 2.1 or 2.2, as applicable, multiplied by (ii) the Exercise Price.

 

“Warrant Stock” means the 3,000,000 shares of Common Stock to be purchased upon the exercise hereof, subject to adjustment as provided herein.

 

2.                                      Exercise of Warrant.

 

2.1.                            Manner of Exercise. From and after the Closing Date, and until 5:00 P.M., California time, on the Expiration Date (the “Exercise Period”), the Holder may exercise this Warrant, on any Business Day, for all or any part of the number of shares of Warrant Stock purchasable hereunder.

 

In order to exercise this Warrant, in whole or in part, the Holder shall deliver to the Company at its principal office or at an office or agency designated by the Company, (i) an original written notice of Holder’s election to exercise this Warrant, which notice shall specify the number of shares of Warrant Stock to be purchased, (ii) payment of the Warrant Price as provided herein, and (iii) this Warrant. Such notice shall be substantially in the form of the subscription form appearing at the end of this Warrant as Exhibit A, duly executed by the Holder or its agent or attorney. Upon receipt thereof, the Company shall, as promptly as practicable, and in any event within three Business Days thereafter, execute or cause to be executed and deliver or cause to be delivered to the Holder a certificate or certificates representing the aggregate number of full shares of Warrant Stock issuable upon such exercise, together with cash in lieu of any fraction of a share, as hereinafter provided. The stock certificate or certificates so delivered shall be, to the extent possible, in such denomination or denominations as the Holder shall request in the notice and shall be registered in the name of the Holder or such other name as shall

 

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be designated in the notice. This Warrant shall be deemed to have been exercised and such certificate or certificates shall be deemed to have been issued, and the Holder or any other Person so designated to be named therein shall be deemed to have become a Holder of record of such shares for all purposes, as of the date when the notice, together with the payment of the Warrant Price and this Warrant, is received by the Company as described above. If this Warrant shall have been exercised in part, the Company shall, at the time of delivery of the certificate or certificates representing Warrant Stock, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unpurchased shares of Common Stock called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant, or at the request of the Holder, appropriate notation may be made on this Warrant and the same returned to the Holder.

 

Payment of the Warrant Price may be made at the option of the Holder by: (i) certified or official bank check payable to the order of the Company, or (ii) wire transfer to the account of the Company. All shares of Common Stock issuable upon the exercise of this Warrant pursuant to the terms hereof shall be validly issued and, upon payment of the Warrant Price, shall be fully paid and nonassessable.

 

2.2.                            Mandatory Exercise.  The Company may request that the Holder exercise this Warrant in whole but not in part (the “Mandatory Exercise”) within twenty (20) Business Days after the date of the Mandatory Exercise Notice (as defined below) by delivering a written notice to the holder at such address as such holder shall have provided to the Company in writing pursuant to Section 11.2 hereof (the “Mandatory Exercise Notice”); provided that (i) the Daily Market Price for twenty (20) consecutive trading days is equal to or greater than $2.40, (ii) either all of the Warrant Stock underlying this Warrant (A) are then registered under an effective registration statement or (B) may be sold pursuant to Rule 144 during a three-month period without registration under the Securities Act, (iii) sufficient shares of Common Stock of the Company are authorized and reserved for issuance upon the full exercise of this Warrant and (iv) all of the Warrant Stock issuable upon exercise of this Warrant is then listed or quoted on the primary national securities exchange, market or bulletin board on which the Common Stock of the Company is then listed or quoted.  The Mandatory Exercise Notice shall set forth the Daily Market Price for each of the previous twenty (20) trading days immediately preceding the date of the Mandatory Exercise Notice and shall state that this Warrant be exercised in conformity with this Section 2.2 within twenty (20) Business Days.  Within ten (10) Business Day days of receipt of a Mandatory Exercise Notice, the Holder shall deliver a written notice to the Company (the “Participation Notice”), stating whether or not the Holder agrees to participate in such Mandatory Exercise.  If the Holder states in its Participation Notice that it elects not to participate in the Mandatory Exercise or if the Holder fails to deliver a Participation Notice within the time period specified in this Section 2.2, then (i) the Holder shall forfeit such Holder’s rights, title and interest under this Warrant, (ii) this Warrant shall be deemed terminated and (iii) the Holder shall deliver to the Company within three (3) Business Days of the date of such Holder’s Participation Notice this Warrant marked “CANCELLED.”  If the Holder states in its Participation Notice that it elects to participate in the Mandatory Exercise and makes payment of the Warrant Price by (A) certified or official bank check payable to the order of the Company, or (B) wire transfer to the account of the Company within ten (10) Business Day days of receipt of a Mandatory Exercise Notice, then this Warrant shall be deemed to be exercised without any further action on the part of the Holder hereof pursuant to this Section 2.2 for all of the Warrant Stock that can be obtained pursuant to such exercise on the twentieth (20th) Business Day after the Mandatory Exercise Notice (the “Automatic Mandatory Exercise Date”).

 

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2.3.                            Fractional Shares. The Company shall not be required to issue a fractional share of Common Stock upon exercise of any Warrant. As to any fraction of a share which the Holder of one or more Warrants, the rights under which are exercised in the same transaction, would otherwise be entitled to purchase upon such exercise, the Company shall pay an amount in cash equal to the Daily Market Price per share of Common Stock on the date of exercise multiplied by such fraction.

 

3.                                      Transfer, Division and Combination.

 

3.1.                            Transfer. This Warrant and the Warrant Stock have not been and are not being registered under the Securities Act or any state securities laws.  This Warrant may not be offered for sale, sold, assigned or transferred by Holder (other than to an Affiliate of Holder) without the prior written consent of the Company.  If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant or the resale of the Warrant Stock, this Warrant or the Warrant Stock, as applicable, shall not be registered under the Securities Act, the Company may require, as a condition of allowing such transfer (i) that the Holder or transferee of this Warrant or the Warrant Stock as the case may be, furnish to the Company a written opinion of counsel that is reasonably acceptable to the Company to the effect that such transfer may be made without registration under the Securities Act, (ii) that the Holder or transferee execute and deliver to the Company an investment letter in form and substance acceptable to the Company and substantially in the form attached as Exhibit C hereto and (iii) that the transferee be an “accredited investor” as defined in Rule 501 promulgated under the Securities Act. Transfer of this Warrant and all rights hereunder, in whole or in part, in accordance with the foregoing provisions, shall be registered on the books of the Company to be maintained for such purpose, upon surrender of this Warrant at the principal office of the Company referred to in Section 2.1 or an office or agency designated by the Company, together with a written assignment of this Warrant substantially in the form of Exhibit B hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees and in the denomination specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. Following a transfer that complies with the requirements of this Section 3.1, the Warrant may be exercised by a new Holder for the purchase of shares of Common Stock regardless of whether the Company issued or registered a new Warrant on the books of the Company.

 

3.2.                            Restrictive Legends. Each certificate for Warrant Stock initially issued upon the exercise of this Warrant, and each certificate for Warrant Stock issued to any subsequent transferee of any such certificate, unless, in each case, such Warrant Stock is eligible for resale without registration pursuant to Rule 144 under the Securities Act, shall be stamped or otherwise imprinted with legends in substantially the following form:

 

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“THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN

 

REGISTERED UNDER THE SECURITIES ACT OF 1933 AS AMENDED, AND MAY NOT BE OFFERED, SOLD, ASSIGNED OR TRANSFERRED, IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT OR UNLESS THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT REGISTRATION UNDER SAID ACT IS NOT REQUIRED.”

 

3.3.                            Division and Combination; Expenses; Books. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office or agency of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with Section 3.1 as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. The Company shall prepare, issue and deliver at its own expense the new Warrant or Warrants under this Section 3. The Company agrees to maintain, at its aforesaid office or agency, books for the registration and the registration of transfer of the Warrants.

 

4.                                      Adjustments. The number of shares of Common Stock for which this Warrant is exercisable, and the price at which such shares may be purchased upon exercise of this Warrant, shall be subject to adjustment from time to time as set forth in this Section 4. The Company shall give the Holder notice of any event described below which requires an adjustment pursuant to this Section 4 in accordance with Sections 5.1 and 5.2.

 

4.1.                            Stock Dividends, Subdivisions and Combinations. If at any time while this Warrant is outstanding the Company shall:

 

(i)                                     declare a dividend or make a distribution on its outstanding shares of Common Stock in shares of Common Stock,

 

(ii)                                  subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or

 

(iii)                               combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then:

 

(1)                                 the number of shares of Common Stock acquirable upon exercise of this Warrant immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock that would have been acquirable under this Warrant immediately prior to the record date for such dividend or distribution or the effective date of such subdivision or combination would own or be entitled to receive after such record date or the effective date of such subdivision or combination, as applicable, and

 

(2)                                 the Exercise Price shall be adjusted to equal:

 

(A)                               the Exercise Price in effect at the time of the record date for such dividend or distribution or of the effective date of such subdivision or combination, multiplied by the number of shares of Common Stock into which this Warrant is exercisable immediately prior to the adjustment, divided by

 

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(B)                               the number of shares of Common Stock into which this Warrant is exercisable immediately after such adjustment.

 

Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution, and any adjustment pursuant to clauses (ii) or (iii) of this paragraph shall become effective immediately after the effective date of such subdivision or combination.

 

4.2.                            Certain Other Distributions. If at any time while this Warrant is outstanding the Company shall cause the holders of its Common Stock to be entitled to receive any dividend or other distribution of:

 

(i)                                     cash,

 

(ii)                                  any evidences of its indebtedness, any shares of stock of any class or any other securities or property or assets of any nature whatsoever (other than cash or additional shares of Common Stock as provided in Section 4.1 hereof), or

 

(iii)                               any warrants or other rights to subscribe for or purchase any evidences of its indebtedness, any shares of stock of any class or any other securities or property or assets of any nature whatsoever, then:

 

(1)                                 the number of shares of Common Stock acquirable upon exercise of this Warrant shall be adjusted to equal the product of the number of shares of Common Stock acquirable upon exercise of this Warrant immediately prior to the record date for such dividend or distribution, multiplied by a fraction (x) the numerator of which shall be the Exercise Price per share of Common Stock at the date of taking such record and (y) the denominator of which shall be such Exercise Price minus the amount allocable to one share of Common Stock of any such cash so distributable and of the fair value (as determined in good faith by the Board of Directors of the Company) of any and all such evidences of indebtedness, shares of stock, other securities or property or warrants or other subscription or purchase rights so distributable; and

 

(2)                                 the Exercise Price in effect immediately prior to the record date fixed for determination of stockholders entitled to receive such distribution shall be adjusted to equal (x) the Exercise Price multiplied by the number of shares of Common Stock acquirable upon exercise of this Warrant immediately prior to the adjustment, divided by (y) the number of shares of Common Stock acquirable upon exercise of this Warrant immediately after such adjustment. A reclassification of the Common Stock (other than a change in par value, or from par value to no par value or from no par value to par value) into shares of Common Stock and shares of any other class of stock shall be deemed a distribution by the Company to the holders of its Common Stock of such shares of such other class of stock within the meaning of this Section 4.2 and, if the outstanding shares of Common Stock shall be changed into a larger or smaller number of shares of Common Stock as a part of such reclassification, such change shall be deemed a subdivision or combination, as the case may be, of the outstanding shares of Common Stock within the meaning of Section 4.1.

 

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4.3.                            Other Provisions Applicable to Adjustments. The following provisions shall be applicable to the making of adjustments of the number of shares of Common Stock into which this Warrant is exercisable and the Exercise Price provided for in Section 4:

 

(a) When Adjustments to Be Made. The adjustments required by Section 4 shall be made whenever and as often as any specified event requiring an adjustment shall occur, except that any that would otherwise be required may be postponed (except in the case of a subdivision or combination of shares of the Common Stock, as provided for in Section 4.1) up to, but not beyond the date of exercise if such adjustment either by itself or with other adjustments not previously made adds or subtracts less than 1% of the shares of Common Stock into which this Warrant is exercisable immediately prior to the making of such adjustment. Any adjustment representing a change of less than such minimum amount (except as aforesaid) which is postponed shall be carried forward and made as soon as such adjustment, together with other adjustments required by this Section 4 and not previously made, would result in a minimum adjustment or on the date of exercise. For the purpose of any adjustment, any specified event shall be deemed to have occurred at the close of business on the date of its occurrence.

 

(b)  Fractional Interests. In computing adjustments under this Section 4, fractional interests in Common Stock shall be taken into account to the nearest 1/100th of a share.

 

(c)  When Adjustment Not Required. If the Company undertakes a transaction contemplated under this Section 4 and as a result takes a record of the holders of its Common Stock for the purpose of entitling them to receive a dividend or distribution or subscription or purchase rights or other benefits contemplated under this Section 4 and shall, thereafter and before the distribution to stockholders thereof, legally abandon its plan to pay or deliver such dividend, distribution, subscription or purchase rights or other benefits contemplated under this Section 4, then thereafter no adjustment shall be required by reason of the taking of such record and any such adjustment previously made in respect thereof shall be rescinded and annulled.

 

(d)  Escrow of Stock. If after any property becomes distributable pursuant to Section 4 by reason of the taking of any record of the holders of Common Stock, but prior to the occurrence of the event for which such record is taken, a holder of this Warrant exercises the Warrant during such time, then such holder shall continue to be entitled to receive any shares of Common Stock issuable upon exercise hereunder by reason of such adjustment and such shares or other property shall be held in escrow for the holder of this Warrant by the Company to be issued to holder of this Warrant upon and to the extent that the event actually takes place. Notwithstanding any other provision to the contrary herein, if the event for which such record was taken fails to occur or is rescinded, then such escrowed shares shall be canceled by the Company and escrowed property returned to the Company.

 

4.4.                            Reorganization, Reclassification, Merger, Consolidation or Disposition of Assets. If there shall occur a Change of Control, then the Holder of this Warrant shall have the right to receive, for each share of Warrant Stock that would have been issuable upon such exercise immediately prior to the occurrence of such Change of Control, the number of shares of

 

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Common Stock of the successor or acquiring corporation or of the Company that the Holder would have received if the Holder had exercised immediately prior to the Change of Control, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”) receivable as a result of such Change of Control by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such Change of Control.  For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in such Change of Control, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration.  If holders of Common Stock are given any choice as to the securities, cash or property to be received in a Change of Control, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Change of Control.

 

4.5.                            Certain Limitations. Notwithstanding anything herein to the contrary, the Company agrees not to enter into any transaction that, by reason of any adjustment hereunder, would cause the Exercise Price to be less than the par value per share of Common Stock.

 

4.6.                            Stock Transfer Taxes. The issue of stock certificates upon exercise of this Warrant shall be made without charge to the holder for any tax in respect of such issue. The Company shall not, however, be required to pay any tax which may be payable in respect of any transfer involved in the issue and delivery of shares in any name other than that of the holder of this Warrant, and the Company shall not be required to issue or deliver any such stock certificate unless and until the person or persons requesting the issue thereof shall have paid to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid.

 

5.                                      Notices to Warrant Holders.

 

5.1.                            Certificate as to Adjustments. Upon the occurrence of each adjustment or readjustment of the Exercise Price, the Company, at its expense, shall promptly compute such adjustment or readjustment in accordance with the terms hereof and prepare and furnish to the Holder of this Warrant a certificate setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based. The Company shall, upon the written request at any time of the Holder of this Warrant, furnish or cause to be furnished to such Holder a like certificate setting forth (i) such adjustments and readjustments, (ii) the Exercise Price at the time in effect and (iii) the number of shares of Common Stock and the amount, if any, or other property which at the time would be received upon the exercise of Warrants owned by such Holder.

 

5.2.                            Notice of Corporate Action. If at any time:

 

(a)                                 the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive a dividend (other than a cash dividend payable out of earnings or earned surplus legally available for the payment of dividends under the laws of the jurisdiction of incorporation of the Company) or other distribution, or any right to subscribe for or purchase any evidences of its indebtedness, any shares of stock of any class or any other securities or property, or to receive any other right, or

 

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(b)                                 there shall be any capital reorganization of the Company, any reclassification or recapitalization of the capital stock of the Company or any Change of Control, or

 

(c)                                  there shall be a voluntary or involuntary dissolution, liquidation or winding up of the Company;

 

then, in any one or more of such cases, the Company shall give to the Holder (i) at least 10 Business Days’ prior written notice of the record date for such dividend, distribution or right or for determining rights to vote in respect of any such reorganization, reclassification, merger, consolidation, sale, transfer, disposition, dissolution, liquidation or winding up, and (ii) in the case of any such reorganization, reclassification, merger, consolidation, sale, transfer, disposition, dissolution, liquidation or winding up, at least 10 Business Days’ prior written notice of the date when the same shall take place. Such notice in accordance with the foregoing clause also shall specify (i) the date on which any such record is to be taken for the purpose of such dividend, distribution or right, the date on which the holders of Common Stock shall be entitled to any such dividend, distribution or right, and the amount and character thereof, and (ii) the date on which any such reorganization, reclassification, merger, consolidation, sale, transfer, disposition, dissolution, liquidation or winding up is to take place and the time, if any such time is to be fixed, as of which the holders of Common Stock shall be entitled to exchange their shares of Common Stock for securities or other property deliverable upon such reorganization, reclassification, merger, consolidation, sale, transfer, disposition, dissolution, liquidation or winding up. Each such written notice shall be sufficiently given if addressed to the Holder at the last address of the Holder appearing on the books of the Company and delivered in accordance with Section 11.2.

 

5.3.                            No Rights as Stockholder. This Warrant does not entitle the Holder to any voting or other rights as a stockholder of the Company prior to exercise and payment for the Warrant Price in accordance with the terms hereof.

 

6.                                      No Impairment. The Company shall not by any action, including, without limitation, amending its articles of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of the Holder against impairment. Without limiting the generality of the foregoing, the Company will (a) not increase the par value of any shares of Common Stock receivable upon the exercise of this Warrant above the amount payable therefor upon such exercise immediately prior to such increase in par value, (b) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable shares of Common Stock upon the exercise of this Warrant, and (c) use its reasonable best efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof as may be necessary to enable the Company to perform its obligations under this Warrant. Upon the request of the Holder, the Company will at any time during the period this Warrant is outstanding acknowledge in writing, in form satisfactory to the Holder, the continuing validity of this Warrant and the obligations of the Company hereunder.

 

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7.                                      Reservation and Authorization of Common Stock; Registration With Approval of Any Governmental Authority. From and after the Closing Date, the Company shall at all times reserve and keep available for issue upon the exercise of Warrants such number of its authorized but unissued shares of Common Stock as will be sufficient to permit the exercise in full of all outstanding Warrants. All shares of Common Stock which shall be so issuable, when issued upon exercise of any Warrant and payment therefor in accordance with the terms of such Warrant, shall be duly and validly issued and fully paid and nonassessable, and not subject to preemptive rights. Before taking any action which would cause an adjustment reducing the Exercise Price below the then par value, if any, of the shares of Common Stock issuable upon exercise of the Warrants, the Company shall take any corporate action which may be necessary in order that the Company may validly and legally issue fully paid and non-assessable shares of such Common Stock at such adjusted Exercise Price. Before taking any action which would result in an adjustment in the number of shares of Common Stock for which this Warrant is exercisable or in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof. If any shares of Common Stock required to be reserved for issuance upon exercise of Warrants require registration or qualification with any governmental authority under any federal or state law before such shares may be so issued (other than as a result of a prior or contemplated distribution by the Holder of this Warrant), the Company will in good faith and as expeditiously as possible and at its expense endeavor to cause such shares to be duly registered.

 

8.                                      Taking of Record; Stock and Warrant Transfer Books. In the case of all dividends or other distributions by the Company to the holders of its Common Stock with respect to which any provision of Section 4 refers to the taking of a record of such holders, the Company will in each such case take such a record and will take such record as of the close of business on a Business Day. The Company will not at any time, except upon dissolution, liquidation or winding up of the Company, close its stock transfer books or Warrant transfer books so as to result in preventing or delaying the exercise or transfer of any Warrant.

 

9.                                      Loss or Mutilation. Upon receipt by the Company from the Holder of evidence reasonably satisfactory to it of the ownership of and the loss, theft, destruction or mutilation of this Warrant and indemnity or security reasonably satisfactory to it and reimbursement to the Company of all reasonable expenses incidental thereto and in case of mutilation upon surrender and cancellation hereof, the Company will execute and deliver in lieu hereof a new Warrant of like tenor to the Holder; provided, however, that in the case of mutilation, no indemnity shall be required if this Warrant in identifiable form is surrendered to the Company for cancellation.

 

10.                               Limitation of Liability. No provision hereof, in the absence of affirmative action by the Holder to purchase shares of Common Stock, and no enumeration herein of the rights or privileges of the Holder hereof, shall give rise to any liability of the Holder for the purchase price of any Common Stock, whether such liability is asserted by the Company or by creditors of the Company.

 

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11.                                 Miscellaneous.

 

11.1.                        Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of the Holder shall operate as a waiver of such right or otherwise prejudice Holder’s rights, powers or remedies. If the Company fails to make, when due, any payments provided for hereunder, or fails to comply with any other provision of this Warrant, the Company shall pay to the Holder such amounts as shall be sufficient to cover any third party costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

11.2.                        Notice Generally. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication is delivered via facsimile or email at the facsimile number or email address set forth below at or prior to 5:30 p.m. (Pacific time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number set forth below on a day that is not a Trading Day or later than 5:30 p.m. (Pacific time) on any Trading Day, (c) the second (2nd) Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service or (d) upon actual receipt by the party to whom such notice is required to be given.  The address for such notices and communications shall be as follows:

 

	
 
    	
If   to Holder:
    
	
 
    	
Inovio Pharmaceuticals, Inc.
    	
 
    
	
 
    	
Attn:
    	
Joseph Kim, President & CEO
    	
 
    
	
 
    	
Facsimile: 
    	
 
    	
 
    
	
 
    	
Telephone: 
    	
1-267-440-4200
    	
 
    
	
 
    	
E-mail:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
If to the Company:
    	
 
    
	
 
    	
OncoSec Medical Incorporated
    	
 
    
	
 
    	
Attn:
    	
Punit Dhillon, President & CEO
    	
 
    
	
 
    	
Facsimile: 
    	
 
    	
 
    
	
 
    	
Telephone: 
    	
1-855-662-6732
    	
 
    
	
 
    	
E-mail:
    	
 
    	
 
    
					

 

11.3.                        Successors and Assigns. Subject to compliance with the provisions of Section 3.1, this Warrant and the rights evidenced hereby shall inure to the benefit of and be binding upon the successors of the Company and the successors and assigns of the Holder. The provisions of this Warrant are intended to be for the benefit of all Holders from time to time of this Warrant, and shall be enforceable by any such Holder.

 

11.4.                        Amendment. This Warrant may be modified or amended or the provisions of this Warrant waived with the written consent of both the Company and the Holder.

 

12

 

11.5.                        Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be modified to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Warrant.

 

11.6.                        Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.

 

11.7.                        Governing Law. This Warrant and the transactions contemplated hereby shall be deemed to be consummated in the State of California and shall be governed by and interpreted in accordance with the local laws of the State of California without regard to the provisions thereof relating to conflicts of laws. The Company hereby irrevocably consents to the exclusive jurisdiction of the State and Federal courts located in San Diego, California in connection with any action or proceeding arising out of or relating to this Warrant. In any such litigation the Company agrees that the service thereof may be made by certified or registered mail directed to the Company pursuant to Section 11.2.

[Signature Page Follows]

 

13

 

IN WITNESS WHEREOF, OncoSec Medical Incorporated has caused this Warrant to be executed by its duly authorized officer and attested by its Secretary.

 

	
Dated:   March 24, 2012
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
ONCOSEC   MEDICAL INCORPORATED
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Punit Dhillon
    
	
 
    	
Name:
    	
Punit   Dhillon
    
	
 
    	
Title:
    	
President &   Chief Executive Officer
    

 

	
Attest:
    	
 
    
	
 
    	
 
    
	
By:   
    	
/s/   Veronica Vallejo
    	
 
    
	
Name:
    	
Veronica   Vallejo, CPA
    	
 
    
	
Title:
    	
Vice   President, Finance & Secretary
    	
 
    

 

14

 

EXHIBIT A

 

SUBSCRIPTION FORM

 

[To be executed only upon exercise of Warrant]

 

1.                                       The undersigned hereby elects to purchase               shares of the Common Stock of OncoSec Medical Incorporated pursuant to the terms of the attached Warrant, and tenders herewith payment of the purchase price of such shares in full.

 

2.                                       Please issue a certificate or certificates representing said shares in the name of the undersigned or in such other name as is specified below:

 

	
 
    	
 
    
	
 
    	
(Name)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
(Address)
    

 

[and, if such shares of Common Stock shall not include all of the shares of Common Stock issuable as provided in this Warrant, that a new Warrant of like tenor and date for the balance of the shares of Common Stock issuable hereunder be delivered to the undersigned.]

 

	
 
    	
 
    
	
(Name   of Registered Owner)
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
(Signature   of Registered Owner)
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
(Street   Address)
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
(State)   (Zip Code)
    	
 
    

 

NOTICE: The signature on this subscription must correspond with the name as written upon the face of the Warrant in every particular, without alteration or enlargement or any change whatsoever.

 

15

 

EXHIBIT B

 

ASSIGNMENT FORM

 

FOR VALUE RECEIVED the undersigned registered owner of this Warrant for the purchase of shares of common stock of OncoSec Medical Incorporated hereby sells, assigns and transfers unto the Assignee named below all of the rights of the undersigned under this Warrant, with respect to the number of shares of common stock set forth below:

 

 

	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
(Name   and Address of Assignee)
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
(Number   of Shares of Common Stock)
    	
 
    

 

 

and does hereby irrevocably constitute and appoint                   attorney-in-fact to register such transfer on the books of the Company, maintained for the purpose, with full power of substitution in the premises.

 

 

	
Dated:
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
(Print   Name and Title)
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
(Signature)
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
(Witness)
    	
 
    

 

 

NOTICE: The signature on this assignment must correspond with the name as written upon the face of the Warrant in every particular, without alteration or enlargement or any change whatsoever.

 

16

 

EXHIBIT C

 

FORM OF INVESTMENT REPRESENTATION LETTER

 

In connection with the acquisition of Common Stock Purchase Warrant (the “Warrants”) to purchase 3,000,000 shares of common stock of OncoSec Medical Incorporated (the “Company”), par value $0.0001 per share (the “Common Stock”) upon the exercise of the Warrants by Inovio Pharmaceuticals, Inc. (the “Holder”) from the Company, the Holder hereby represents and warrants to the Company as follows:

 

The Holder (i) is an “Accredited Investor” as that term is defined in Rule 501 of Regulation D promulgated under the Securities Act of 1933, as amended (the “Act”); and (ii) has the ability to bear the economic risks of such Holder’s prospective investment, including a complete loss of Holder’s investment in the Warrants and the shares of Common Stock issuable upon the exercise thereof (collectively, the “Securities”).

 

The Holder, by acceptance of the Warrants, represents and warrants to the Company that the Warrants and all securities acquired upon any and all exercises of the Warrants are purchased for the Holder’s own account, and not with view to distribution of either the Warrants or any securities purchasable upon exercise thereof in violation of applicable securities laws.

 

The Holder acknowledges that (i) the Securities have not been registered under the Act, (ii) the Securities are “restricted securities” and the certificate(s) representing the Securities shall bear the following legend, or a similar legend to the same effect, until (i) in the case of the shares of Common Stock underlying the Warrants, such shares shall have been registered for resale by the Holder under the Act and effectively been disposed of in accordance with a registration statement that has been declared effective; or (ii) in the opinion of counsel for the Company such Securities may be sold without registration under the Act:

 

“[NEITHER] THE SECURITIES REPRESENTED BY THIS CERTIFICATE [NOR THE SECURITIES INTO WHICH THEY ARE EXERCISABLE] HAVE [NOT] BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND ALL SUCH SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AS SET FORTH IN THIS CERTIFICATE. [NEITHER] THE SECURITIES REPRESENTED HEREBY [NOR THE SECURITIES INTO WHICH THEY ARE EXERCISABLE] MAY [NOT] BE SOLD, TRANSFERRED, OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR AN OPINION OF COUNSEL, REASONABLY ACCEPTABLE TO COUNSEL FOR THE COMPANY, TO THE EFFECT THAT THE PROPOSED SALE, TRANSFER, OR DISPOSITION MAY BE EFFECTUATED WITHOUT REGISTRATION UNDER THE ACT.”

 

17

 

IN WITNESS WHEREOF, the Holder has caused this Investment Representation Letter to be executed in its corporate name by its duly authorized officer this 24th day of March 2012.

 

Inovio Pharmaceuticals, Inc.

 

 

	
By:
    	
/s/   Joseph Kim
    	
 
    
	
Name:   
    	
J.   Joseph Kim
    	
 
    
	
Title:
    	
President &   CEO
    	
 
    

 

18Exhibit 10.1

 

EXECUTION COPY

 

AMENDMENT NO. 1

 

Dated as of March 27, 2012

 

to

 

CREDIT AGREEMENT

 

Dated as of March 11, 2011

 

THIS AMENDMENT NO. 1 (this “Amendment”) is made as of March 27, 2012 by and among HCP, Inc., a Maryland corporation (the “Borrower”), the financial institutions listed on the signature pages hereof and Bank of America, N.A., as Administrative Agent (the “Administrative Agent’), under that certain Credit Agreement dated as of March 11, 2011 by and among the Borrower, the Lenders and the Administrative Agent (as amended, restated, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”).  Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given to them in the Credit Agreement.

 

WHEREAS, the Borrower has requested that the Lenders and the Administrative Agent agree to an amendment to the Credit Agreement; and

 

WHEREAS, the Borrower, the Lenders party hereto and the Administrative Agent have so agreed on the terms and conditions set forth herein;

 

NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower, the Lenders party hereto and the Administrative Agent hereby agree to enter into this Amendment.

 

1.             Amendment to the Credit Agreement.  Effective as of the Amendment No. 1 Effective Date (as defined below), the parties hereto agree that the Credit Agreement is hereby amended as follows:

 

(a)           The definition of “Applicable Rate” appearing in Section 1.01 of the Credit Agreement is amended to delete the pricing grid appearing therein and to replace such pricing grid with the following:

 

	
 
    	
 
    	
 
    	
 
    	
Revolving Loans
    	
 
    
	
Pricing
   Level
    	
 
    	
Debt Ratings
    	
 
    	
Applicable
   Rate for
   Eurocurrency
   Rate Loans
   and Letter of
   Credit Fees
    	
 
    	
Applicable
   Rate for
   Base Rate
   Loans
    	
 
    
	
1
    	
 
    	
>A- / >A3
    	
 
    	
100 bps
    	
 
    	
 
    	
0 bps
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
2
    	
 
    	
>BBB+ / >Baa1
    	
 
    	
107.5 bps
    	
 
    	
 
    	
7.5 bps
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
3
    	
 
    	
>BBB / >Baa2
    	
 
    	
122.5 bps
    	
 
    	
 
    	
22.5 bps
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
4
    	
 
    	
>BBB- / >Baa3
    	
 
    	
147.5 bps
    	
 
    	
 
    	
32.5 bps
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
5
    	
 
    	
<BBB- / <Baa3 or non-rated
    	
 
    	
185 bps
    	
 
    	
 
    	
85 bps
    	
 
    	
 
    

 

 

(b)           The definition of “Consolidated Total Asset Value” appearing in Section 1.01 of the Credit Agreement is amended to add the proviso “; provided that, for purposes of calculating the Leverage Ratio, Consolidated Total Asset Value shall not include the aggregate amount of unrestricted cash and cash equivalents netted against Indebtedness of the Borrower and its Subsidiaries maturing in the immediately succeeding 24 months” to the end thereof.

 

(c)           The definition of “Facility Fee Rate” appearing in Section 1.01 of the Credit Agreement is amended to delete the pricing grid appearing therein and to replace such pricing grid with the following:

 

	
Pricing Level
    	
 
    	
Facility Fee
    	
 
    
	
1
    	
 
    	
15 bps
    	
 
    	
 
    
	
2
    	
 
    	
17.5 bps
    	
 
    	
 
    
	
3
    	
 
    	
22.5 bps
    	
 
    	
 
    
	
4
    	
 
    	
32.5 bps
    	
 
    	
 
    
	
5
    	
 
    	
45 bps
    	
 
    	
 
    

 

(d)           The definition of “Revolving Maturity Date” appearing in Section 1.01 of the Credit Agreement is amended to delete the date “March 11, 2015” appearing therein and to replace such date with the date “March 11, 2016”.

 

(e)           Section 1.01 of the Credit Agreement is amended to add the following definition thereto in the appropriate alphabetical order:

 

“Amendment No. 1 Effective Date” means March 27, 2012.

 

(f)            Clause (d) of Section 2.15 of the Credit Agreement is amended to delete the percentage “0.30%” appearing therein and to replace such percentage with the percentage “0.15%”.

 

(g)           Clause (e) of Section 7.10 of the Credit Agreement is amended to (i) delete the amount “$6,961,879,000” appearing therein and to replace such amount with the amount “$8,011,509,000” and (ii) delete the reference to “Closing Date” appearing therein and to replace such reference with “Amendment No. 1 Effective Date”.

 

(h)           Schedule 2.01 to the Credit Agreement is hereby replaced in its entirety with the Schedule 2.01 attached hereto.

 

(i)            Schedule 2.02 to the Credit Agreement is hereby replaced in its entirety with the Schedule 2.02 attached hereto.

 

2.             Departing Lenders and New Lenders.  The parties hereto hereby acknowledge and agree that:

 

2

 

(a)           Each of Taiwan Business Bank, Los Angeles Branch, State Bank of India, First Commercial Bank, Los Angeles Branch, Bank of Taiwan, Los Angeles Branch, Cathay United Bank, Ltd., The Bank of East Asia, Limited, Los Angeles Branch, Hua Nan Commercial Bank, Ltd., New York Agency, Taipei Fubon Commercial Bank Co., Ltd., Mega International Commercial Bank Co., Ltd., Los Angeles Branch and Mega International Commercial Bank Co., Ltd., New York Branch (each a “Departing Lender” and collectively, the “Departing Lenders”) is entering into this Amendment solely to evidence its exit from the Credit Agreement and shall have absolutely no obligation hereunder.  Upon the effectiveness hereof and the payment described in Section 2(c)(iii), each Departing Lender shall no longer (i) constitute a “Lender” for all purposes under the Loan Documents, (ii) be a party to the Credit Agreement or (iii) have any obligations under any of the Loan Documents, in each case, without further action required on the part of any Person;

 

(b)           Each of Royal Bank of Canada, City National Bank, Comerica Bank and Taiwan Cooperative Bank, Los Angeles Branch (each a “New Lender” and collectively, the “New Lenders”) is entering into this Amendment and the Credit Agreement as a new Lender thereunder.  Upon the effectiveness hereof and the execution hereof by each New Lender, such New Lender shall constitute a “Lender” for all purposes under the Loan Documents; and

 

(c)           upon the effectiveness hereof: (i) the Administrative Agent shall be entitled to make or take such reallocations, sales, assignments or other relevant actions in respect of each Lender’s Revolving Loans, participations in Letters of Credit, participations in Swingline Loans and Alternative Currency Loan Credit Exposure, if any, under the Credit Agreement as it deems necessary to reflect the rights and obligations of the Lenders (including the Departing Lenders and the New Lenders) under the Credit Agreement as amended hereby, (ii) each Departing Lender’s “Revolving Commitment” under the Credit Agreement shall be terminated, (iii) each Departing Lender shall have received payment in full in immediately available funds of all of its outstanding Revolving Loans, funded participations in Letters of Credit, funded participations in Swingline Loans and Alternative Currency Loan Credit Exposure, all interest thereon and all other amounts payable to it under the Credit Agreement, (iv) each Departing Lender shall not be a Lender hereunder as evidenced by its execution and delivery of its signature page hereto and (v) the defined term “Lenders” in the Credit Agreement shall exclude the Departing Lenders; provided, however, that, as described in Section 3.07 of the Credit Agreement, each Departing Lender shall continue to have the benefit of Article III of the Credit Agreement.  The Borrower hereby agrees to compensate each Lender (including each Departing Lender) for any and all losses, costs and expenses incurred by such Lender in connection with the sale and assignment of any Eurocurrency Rate Loans and the reallocation described in clause (i) above, in each case on the terms and in the manner set forth in Section 3.05 of the Credit Agreement.

 

3.             Conditions of Effectiveness.  The effectiveness of this Amendment (the “Amendment No. 1 Effective Date”) is subject to the conditions precedent that:

 

(a)           the Administrative Agent shall have received counterparts of this Amendment duly executed by the Borrower, the Lenders (including the Departing Lenders), the New Lenders and the Administrative Agent;

 

(b)           the Administrative Agent shall have received such certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers as the Administrative Agent may reasonably require evidencing the identity, authority and capacity of each Responsible Officer authorized to act as a Responsible Officer in connection with this Amendment and the Loan Documents;

 

3

 

(c)           the Administrative Agent shall have received such documents and certifications as the Administrative Agent may reasonably require to evidence that the Borrower is duly organized or formed, and that the Borrower is validly existing, in good standing and qualified to engage in business in its state of organization and in each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect;

 

(d)           the Administrative Agent shall have received favorable opinions of Skadden, Arps, Slate Meagher & Flom LLP and Ballard Spahr LLP, counsels to the Borrower, addressed to the Administrative Agent and each Lender;

 

(e)           the Administrative Agent shall have received a certificate signed by a Responsible Officer certifying (A) that the conditions specified in Section 4.02 of the Credit Agreement have been satisfied; (B) the current Debt Ratings; and (C) that, as of the date of the last financial statements delivered pursuant to the Credit Agreement, the Borrower was in pro forma compliance with the financial covenants contained in Section 7.10 of the Credit Agreement;

 

(f)            the Administrative Agent shall have received payment of all fees and expenses (including fees and expenses of counsel for the Administrative Agent) due and payable in connection with this Amendment; and

 

(g)           each Departing Lender shall have received substantially concurrently with the Amendment No. 1 Effective Date the payment owing to it as described in Section 2(c)(iii) above.

 

4.             Representations and Warranties of the Borrower.  The Borrower hereby represents and warrants as follows:

 

(a)           This Amendment and the Credit Agreement as modified hereby constitute legal, valid and binding obligations of the Borrower and are enforceable against the Borrower in accordance with their terms.

 

(b)           As of the date hereof and after giving effect to the terms of this Amendment, (i) no Default has occurred and is continuing, and (ii) the representations and warranties of the Borrower set forth in Article V of the Credit Agreement or in any other Loan Document are true and correct in all material respects on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that the representations and warranties contained in subsections (a) and (b) of Section 5.05 of the Credit Agreement are deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Credit Agreement.

 

5.             Reference to and Effect on the Credit Agreement.

 

(a)           Upon the effectiveness hereof, each reference to the Credit Agreement in the Credit Agreement or any other Loan Document shall mean and be a reference to the Credit Agreement as amended hereby.

 

(b)           Each Loan Document and all other documents, instruments and agreements executed and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed.  Upon the effectiveness hereof, this Amendment shall for all purposes constitute a Loan Document.

 

(c)           Except with respect to the subject matter hereof, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders, nor constitute a waiver of any provision of the Credit Agreement, the other Loan Documents or any other documents, instruments and agreements executed and/or delivered in connection therewith.

 

4

 

6.             Governing Law.  This Amendment shall be construed in accordance with and governed by the law of the State of New York.

 

7.             Headings.  Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.

 

8.             Counterparts.  This Amendment may be executed by one or more of the parties hereto on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Signatures delivered by facsimile or PDF shall have the same force and effect as manual signatures delivered in person.

 

[Signature Pages Follow]

 

5

 

IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above written.

 

	
 
    	
HCP, INC.,
    
	
 
    	
as   the Borrower
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Timothy M. Schoen
    
	
 
    	
 
    	
Name:   
    	
Timothy   M. Schoen
    
	
 
    	
 
    	
Title:
    	
Executive   Vice President — Chief 
   Financial Officer
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
BANK   OF AMERICA, N.A.,
    
	
 
    	
individually   as a Lender and as Administrative Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Arnie L. Edwards
    
	
 
    	
 
    	
Name:
    	
Arnie   L. Edwards
    
	
 
    	
 
    	
Title:
    	
Director
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
JPMORGAN   CHASE BANK, N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Marc Costantino
    
	
 
    	
 
    	
Name:   
    	
Marc   Costantino
    
	
 
    	
 
    	
Title:   
    	
Executive   Director
    
	
 
    	
 
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
CITIBANK,   N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   John C. Rowland
    
	
 
    	
 
    	
Name:
    	
John   C. Rowland
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
UBS   AG, STAMFORD BRANCH
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Irja R. Otsa
    
	
 
    	
 
    	
Name:   
    	
Irja   R. Otsa
    
	
 
    	
 
    	
Title:   
    	
Associate   Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By   
    	
/s/   Mary E. Evans
    
	
 
    	
 
    	
Name:   
    	
Mary   E. Evans
    
	
 
    	
 
    	
Title:   
    	
Associate   Director
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
WELLS   FARGO BANK, N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Michael St. Geme
    
	
 
    	
 
    	
Name:   
    	
Michael   St. Geme
    
	
 
    	
 
    	
Title:   
    	
Managing   Director
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
CREDIT   AGRICOLE CORPORATE AND INVESTMENT BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Thomas Randolph
    
	
 
    	
 
    	
Name:   
    	
Thomas   Randolph
    
	
 
    	
 
    	
Title:   
    	
Managing   Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   John Bosco
    
	
 
    	
 
    	
Name:   
    	
John   Bosco
    
	
 
    	
 
    	
Title:   
    	
Vice   President
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
CREDIT   SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Mikhail Faybusovich
    
	
 
    	
 
    	
Name:   
    	
Mikhail   Faybusovich
    
	
 
    	
 
    	
Title:   
    	
Director
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By
    	
/s/   Alex Verdone
    
	
 
    	
 
    	
Name:   
    	
Alex   Verdone
    
	
 
    	
 
    	
Title:   
    	
Associate
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
GOLDMAN   SACHS BANK USA
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Anna Ostrovsky
    
	
 
    	
 
    	
Name:   
    	
Anna   Ostrovsky
    
	
 
    	
 
    	
Title:   
    	
Authorized   Signatory
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
MORGAN   STANLEY BANK, N.A., as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Michael King
    
	
 
    	
 
    	
Name:   
    	
Michael   King
    
	
 
    	
 
    	
Title:   
    	
Authorized   Signatory
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
MORGAN   STANLEY SENIOR FUNDING, INC., as a Senior Managing Agent
    
	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By
    	
/s/   Michael King
    
	
 
    	
 
    	
Name:   
    	
Michael   King
    
	
 
    	
 
    	
Title:   
    	
Vice   President
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
ROYAL   BANK OF CANADA
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Joshua Freedman
    
	
 
    	
 
    	
Name:   
    	
Joshua   Freedman
    
	
 
    	
 
    	
Title:   
    	
Authorized   Signatory
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
THE   ROYAL BANK OF SCOTLAND PLC
    
	
 
    	
By:   
    	
RBS   SECURITIES, as agent
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Brett Thompson
    
	
 
    	
 
    	
Name:   
    	
Brett   Thompson 
    
	
 
    	
 
    	
Title:   
    	
Senior   Vice President
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
THE   BANK OF NEW YORK MELLON
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Rick Laudisi
    
	
 
    	
 
    	
Name:   
    	
Rick   Laudisi
    
	
 
    	
 
    	
Title:   
    	
Managing   Director
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
THE   BANK OF NOVA SCOTIA
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Eugene Dempsey
    
	
 
    	
 
    	
Name:   
    	
Eugene   Dempsey
    
	
 
    	
 
    	
Title:   
    	
Director
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
KEYBANK,   N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Bellini Lacey
    
	
 
    	
 
    	
Name:   
    	
Bellini   Lacey
    
	
 
    	
 
    	
Title:   
    	
Vice   President
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
PNC   BANK, N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Tyler Lowry
    
	
 
    	
 
    	
Name:   
    	
Tyler   Lowry
    
	
 
    	
 
    	
Title:   
    	
Vice   President
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
SUNTRUST   BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   W. Bradley Hamilton
    
	
 
    	
 
    	
Name:   
    	
W.   Bradley Hamilton
    
	
 
    	
 
    	
Title:   
    	
Director
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
US   BANK NATIONAL ASSOCIATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Patrick J. Brown
    
	
 
    	
 
    	
Name:   
    	
Patrick   J. Brown
    
	
 
    	
 
    	
Title:   
    	
Vice   President
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
LAND   BANK OF TAIWAN LOS ANGELES BRANCH
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Juifu Chien
    
	
 
    	
 
    	
Name:   
    	
Juifu   Chien
    
	
 
    	
 
    	
Title:   
    	
VP &   General Manager
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
REGIONS   BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Michael J. Kinnick
    
	
 
    	
 
    	
Name:   
    	
Michael   J. Kinnick
    
	
 
    	
 
    	
Title:   
    	
Vice   President
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
CITY   NATIONAL BANK, a national banking association
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Christina K. Pickett
    
	
 
    	
 
    	
Name:   
    	
Christina   K. Pickett
    
	
 
    	
 
    	
Title:   
    	
Vice   President
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
COMERICA   BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Charles Weddell
    
	
 
    	
 
    	
Name:   
    	
Charles   Weddell
    
	
 
    	
 
    	
Title:   
    	
Vice   President
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
CHANG   HWA COMMERCIAL BANK, LTD., NEW YORK BRANCH
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Eric Y.S. Tsai
    
	
 
    	
 
    	
Name:   
    	
Eric   Y.S. Tsai
    
	
 
    	
 
    	
Title:   
    	
VP &   General Manager
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
E   SUN COMMERCIAL BANK, LTD., LOS ANGELES BRANCH
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Edward Chen
    
	
 
    	
 
    	
Name:   
    	
Edward   Chen
    
	
 
    	
 
    	
Title:   
    	
VP &   General Manager
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
Name   of Lender:
    
	
 
    	
 
    
	
 
    	
TAIWAN   COOPERATIVE BANK, LOS ANGELES BRANCH, as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Li Hua Huang
    
	
 
    	
 
    	
Name:   
    	
Li   Hua Huang
    
	
 
    	
 
    	
Title:   
    	
VP &   General Manager
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
The   undersigned Departing Lender hereby acknowledges and agrees that, from and   after the Amendment No. 1 Effective Date, it is no longer a party to the   Credit Agreement:
    
	
 
    	
 
    
	
 
    	
Name   of Departing Lender:
    
	
 
    	
 
    
	
 
    	
TAIWAN   BUSINESS BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Alex Wang
    
	
 
    	
 
    	
Name:   
    	
Alex   Wang
    
	
 
    	
 
    	
Title:   
    	
S.V.P. &   General Manager
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
The   undersigned Departing Lender hereby acknowledges and agrees that, from and   after the Amendment No. 1 Effective Date, it is no longer a party to the   Credit Agreement:
    
	
 
    	
 
    
	
 
    	
Name   of Departing Lender:
    
	
 
    	
 
    
	
 
    	
STATE   BANK OF INDIA
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Vijayalakshmi Muddu
    
	
 
    	
 
    	
Name:   
    	
Vijayalakshmi   Muddu
    
	
 
    	
 
    	
Title:   
    	
Vice   President & Head (Syndications)
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
The   undersigned Departing Lender hereby acknowledges and agrees that, from and   after the Amendment No. 1 Effective Date, it is no longer a party to the   Credit Agreement:
    
	
 
    	
 
    
	
 
    	
Name   of Departing Lender:
    
	
 
    	
 
    
	
 
    	
FIRST   COMMERCIAL BANK, LTD., LOS ANGELES BRANCH
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Jenn-Hwa Wang
    
	
 
    	
 
    	
Name:   
    	
Jenn-Hwa   Wang
    
	
 
    	
 
    	
Title:   
    	
VP &   General Manager
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

 

	
 
    	
The   undersigned Departing Lender hereby acknowledges and agrees that, from and   after the Amendment No. 1 Effective Date, it is no longer a party to the   Credit Agreement:
    
	
 
    	
 
    
	
 
    	
Name   of Departing Lender:
    
	
 
    	
 
    
	
 
    	
BANK   OF TAIWAN, LOS ANGELES BRANCH
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Chie-Shen Tsao
    
	
 
    	
 
    	
Name:   
    	
Chie-Shen   Tsao
    
	
 
    	
 
    	
Title:   
    	
AVP &   DGM
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
The   undersigned Departing Lender hereby acknowledges and agrees that, from and   after the Amendment No. 1 Effective Date, it is no longer a party to the   Credit Agreement:
    
	
 
    	
 
    
	
 
    	
Name   of Departing Lender:
    
	
 
    	
 
    
	
 
    	
CATHAY   UNITED BANK LTD.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Alex Wu
    
	
 
    	
 
    	
Name:   
    	
Alex   Wu
    
	
 
    	
 
    	
Title:   
    	
SVP &   General Manager
    

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of March 11, 2011

HCP, Inc.

 

 

	
 
    	
The   undersigned Departing Lender hereby acknowledges and agrees that, from and   after the Amendment No. 1 Effective Date, it is no longer a party to the   Credit Agreement:
    
	
 
    	
 
    
	
 
    	
Name   of Departing Lender:
    
	
 
    	
 
    
	
 
    	
THE   BANK OF EAST ASIA, LIMITED, LOS ANGELES BRANCH
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   David Loh
    
	
 
    	
 
    	
Name:   
    	
David   Loh
    
	
 
    	
 
    	
Title:   
    	
EVP   and CLO
    
	
 
    	
 
    
	
 
    	
For   any Departing Lender requiring a second signature line:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Victor Li
    
	
 
    	
 
    	
Name:   
    	
Victor   Li
    
	
 
    	
 
    	
Title:   
    	
General   Manager
    
						

 

 

	
 
    	
The   undersigned Departing Lender hereby acknowledges and agrees that, from and   after the Amendment No. 1 Effective Date, it is no longer a party to the   Credit Agreement:
    
	
 
    	
 
    
	
 
    	
Name   of Departing Lender:
    
	
 
    	
 
    
	
 
    	
HUA   NAN COMMERCIAL BANK, LTD.

NEW   YORK AGENCY
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Henry Hsieh
    
	
 
    	
 
    	
Name:   
    	
Henry   Hsieh
    
	
 
    	
 
    	
Title:   
    	
Assistant   Vice President
    

 

 

	
 
    	
The   undersigned Departing Lender hereby acknowledges and agrees that, from and   after the Amendment No. 1 Effective Date, it is no longer a party to the   Credit Agreement:
    
	
 
    	
 
    
	
 
    	
Name   of Departing Lender:
    
	
 
    	
 
    
	
 
    	
TAIPEI   FUBON COMMERCIAL BANK CO., LTD.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Robin Wu
    
	
 
    	
 
    	
Name:   
    	
Robin   Wu
    
	
 
    	
 
    	
Title:   
    	
VP &   Deputy General Manager
    

 

 

	
 
    	
The   undersigned Departing Lender hereby acknowledges and agrees that, from and   after the Amendment No. 1 Effective Date, it is no longer a party to the   Credit Agreement:
    
	
 
    	
 
    
	
 
    	
Name   of Departing Lender:
    
	
 
    	
 
    
	
 
    	
MEGA   INTERNATIONAL COMMERCIAL BANK CO., LTD.

NEW   YORK BRANCH
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Luke Hwang
    
	
 
    	
 
    	
Name:   
    	
Luke   Hwang
    
	
 
    	
 
    	
Title:   
    	
VP &   DGM
    

 

 

	
 
    	
The   undersigned Departing Lender hereby acknowledges and agrees that, from and   after the Amendment No. 1 Effective Date, it is no longer a party to the   Credit Agreement:
    
	
 
    	
 
    
	
 
    	
Name   of Departing Lender:
    
	
 
    	
 
    
	
 
    	
MEGA   INTERNATIONAL COMMERCIAL BANK CO., LTD.

LOS   ANGELES BRANCH
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By   
    	
/s/   Hsiao-Ho Huang
    
	
 
    	
 
    	
Name:   
    	
Hsiao-Ho   Huang
    
	
 
    	
 
    	
Title:   
    	
SVP &   GM
    

 

 

SCHEDULE 2.01

 

COMMITMENTS
 AND APPLICABLE PERCENTAGES

 

	
Lender
    	
 
    	
Revolving
   Commitment
    	
 
    	
Applicable
   Percentage
    	
 
    
	
Bank of America, N.A.
    	
 
    	
$
    	
125,000,000
    	
 
    	
8.33333333
    	
%
    
	
JPMorgan Chase Bank, N.A.
    	
 
    	
$
    	
125,000,000
    	
 
    	
8.33333333
    	
%
    
	
UBS AG, Stamford Branch
    	
 
    	
$
    	
125,000,000
    	
 
    	
8.33333333
    	
%
    
	
Wells Fargo Bank, N.A.
    	
 
    	
$
    	
125,000,000
    	
 
    	
8.33333333
    	
%
    
	
Citibank, N.A.
    	
 
    	
$
    	
125,000,000
    	
 
    	
8.33333333
    	
%
    
	
Credit Suisse AG, Cayman Islands Branch
    	
 
    	
$
    	
75,000,000
    	
 
    	
5.00000000
    	
%
    
	
Credit Agricole Corporate and Investment Bank
    	
 
    	
$
    	
75,000,000
    	
 
    	
5.00000000
    	
%
    
	
Goldman Sachs Bank USA
    	
 
    	
$
    	
75,000,000
    	
 
    	
5.00000000
    	
%
    
	
Morgan Stanley Bank,   N.A.
    	
 
    	
$
    	
75,000,000
    	
 
    	
5.00000000
    	
%
    
	
Royal Bank of Canada
    	
 
    	
$
    	
75,000,000
    	
 
    	
5.00000000
    	
%
    
	
The Royal Bank of Scotland PLC
    	
 
    	
$
    	
75,000,000
    	
 
    	
5.00000000
    	
%
    
	
The Bank of Nova Scotia
    	
 
    	
$
    	
45,000,000
    	
 
    	
3.00000000
    	
%
    
	
U.S. Bank National Association
    	
 
    	
$
    	
45,000,000
    	
 
    	
3.00000000
    	
%
    
	
PNC Bank, National Association
    	
 
    	
$
    	
45,000,000
    	
 
    	
3.00000000
    	
%
    
	
The Bank of New York Mellon
    	
 
    	
$
    	
45,000,000
    	
 
    	
3.00000000
    	
%
    
	
SunTrust Bank
    	
 
    	
$
    	
45,000,000
    	
 
    	
3.00000000
    	
%
    
	
KeyBank National Association
    	
 
    	
$
    	
45,000,000
    	
 
    	
3.00000000
    	
%
    
	
Land Bank of Taiwan Los Angeles Branch
    	
 
    	
$
    	
30,000,000
    	
 
    	
2.00000000
    	
%
    
	
Regions Bank
    	
 
    	
$
    	
30,000,000
    	
 
    	
2.00000000
    	
%
    
	
City National Bank
    	
 
    	
$
    	
25,000,000
    	
 
    	
1.66666667
    	
%
    
	
Comerica Bank
    	
 
    	
$
    	
25,000,000
    	
 
    	
1.66666667
    	
%
    
	
Chang Hwa Commercial Bank, Ltd., New York   Branch
    	
 
    	
$
    	
15,000,000
    	
 
    	
1.00000000
    	
%
    
	
E. Sun Commercial Bank Ltd., Los Angeles Branch
    	
 
    	
$
    	
15,000,000
    	
 
    	
1.00000000
    	
%
    
	
Taiwan Cooperative Bank, Los Angeles Branch
    	
 
    	
$
    	
15,000,000
    	
 
    	
1.00000000
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Total
    	
 
    	
$
    	
1,500,000,000
    	
 
    	
100.00000000
    	
%
    

 

 

SCHEDULE 2.02

 

ALTERNATIVE CURRENCY
 PARTICIPATING LENDER(1)

 

	
Lender
    	
 
    	
Euro
    	
 
    	
Sterling
    	
 
    	
Yen
    	
 
    	
Canadian
   Dollars
    	
 
    	
Australian
   Dollars
    
	
Bank   of America, N.A.
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    
	
JPMorgan   Chase Bank, N.A.
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    
	
UBS   AG, Stamford Branch
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    
	
Wells   Fargo Bank, N.A.
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    
	
Citibank,   N.A.
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    
	
Credit   Suisse AG, Cayman Islands Branch
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    
	
Credit   Agricole Corporate and Investment Bank
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    
	
Goldman   Sachs Bank USA
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    
	
Morgan Stanley Bank, N.A.
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    
	
Royal   Bank of Canada
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    
	
The   Royal Bank of Scotland PLC
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    
	
The   Bank of Nova Scotia
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    
	
U.S.   Bank National Association
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    
	
PNC   Bank, National Association
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    
	
The   Bank of New York Mellon
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    
	
SunTrust   Bank
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    
	
KeyBank   National Association
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    
	
Land   Bank of Taiwan Los Angeles Branch
    	
 
    	
No
    	
 
    	
No
    	
 
    	
No
    	
 
    	
No
    	
 
    	
No
    
	
Regions   Bank
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    
	
City   National Bank
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    	
 
    	
Yes
    
	
Comerica   Bank
    	
 
    	
No
    	
 
    	
No
    	
 
    	
No
    	
 
    	
No
    	
 
    	
No
    
	
Chang   Hwa Commercial Bank, Ltd., New York Branch
    	
 
    	
No
    	
 
    	
No
    	
 
    	
No
    	
 
    	
No
    	
 
    	
No
    
	
E.   Sun Commercial Bank Ltd., Los Angeles Branch
    	
 
    	
No
    	
 
    	
No
    	
 
    	
No
    	
 
    	
No
    	
 
    	
No
    
	
Taiwan   Cooperative Bank, Los Angeles Branch
    	
 
    	
No
    	
 
    	
No
    	
 
    	
No
    	
 
    	
No
    	
 
    	
No
    

 

(1)  The table indicates each Lender’s ability to fund in a particular currency (e.g., Bank of America, N.A. can fund each of the five currencies).

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00201-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00201-of-00352.parquet"}]]