Document:

Exhibit 10.6

 

PRIVATE PLACEMENT WARRANTS PURCHASE
AGREEMENT

 

THIS
PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT (as it may from time to time be amended and including all exhibits referenced herein,
this “Agreement”), dated as of [●], 2021, is entered into by and among Star Peak Corp II,
a Delaware corporation (the “Company”), and Star Peak Sponsor II LLC, a Delaware limited liability company
(the “Purchaser”).

 

WHEREAS,
the Company intends to consummate an initial public offering of the Company’s units (the “Public
Offering”), each unit consisting of one share of Class A common stock of the Company, par value $0.0001 per
share (each, a “Share”), and one-fourth of one warrant, each whole warrant entitling the holder to
purchase one Share at an exercise price of $11.50 per Share, as set forth in the Company’s Registration Statement on
Form S-1, filed with the U.S. Securities and Exchange Commission (the “SEC”), File Number
333-251488  (the “Registration Statement”), under the Securities Act of 1933, as amended
(the “Securities Act”).

 

WHEREAS, the
Purchaser has agreed to purchase an aggregate of 6,028,454 warrants (and up to 525,000 additional warrants if the
underwriters in the Public Offering exercise their over-allotment option in full) (the “Private Placement
Warrants”), each Private Placement Warrant entitling the holder to purchase one Share at an exercise price of
$11.50 per Share, at a price of $2.00 per warrant, subject to adjustment.

 

NOW THEREFORE, in consideration
of the mutual promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:

 

AGREEMENT

 

Section
1.                   Authorization,
Purchase and Sale; Terms of the Private Placement Warrants.

 

A.               
Authorization of the Private Placement Warrants. The Company has duly authorized the issuance and sale of the Private
Placement Warrants to the Purchaser.

 

B.                 
Purchase and Sale of the Private Placement Warrants.

 

(i)                  On
the date of the consummation of the Public Offering (the “IPO Closing Date”), the Company shall
issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, 6,028,454 Private Placement Warrants at a
price of $2.00 per warrant for an aggregate purchase price of $12,056,909 (the “Purchase Price”).
The Purchaser shall pay the Purchase Price by wire transfer of immediately available funds in the following amounts: (i)
5,056,909 to the Company, at a financial institution to be chosen by the Company, and (ii) $7,000,000 to the trust account
maintained by Continental Stock Transfer & Trust Company, acting as trustee (the “Trust
Account”), in each case in accordance with the Company’s wiring instructions, at least one (1) business
day prior to the IPO Closing Date. On the IPO Closing Date, subject to the receipt of funds pursuant to the immediately prior
sentence, the Company, at its option, shall deliver a certificate evidencing the Private Placement Warrants purchased on such
date duly registered in the Purchaser’s name to the Purchaser or effect such delivery in book-entry form.

 

(ii)                 
On the date of the closing of the option to purchase additional units, if any, in connection with the Public Offering or
on such earlier time and date as may be mutually agreed by the Purchaser and the Company (the “Option Closing Date”,
and each Option Closing Date (if any) and the IPO Closing Date, a “Closing Date”), the Company shall
issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, up to 525,000 Private Placement Warrants (or,
to the extent the option to purchase additional units is not exercised in full, a lesser number of Private Placement Warrants in
proportion to portion of the option that is exercised) at a price of $2.00 per warrant for an aggregate purchase price of up to
$1,050,000 (the “ Option Purchase Price”). The Purchaser shall pay the Option Purchase Price in accordance
with the Company’s wire instruction by wire transfer of immediately available funds to the Trust Account, at least one (1)
business day prior to the Option Closing Date. On the Option Closing Date, subject to the receipt of funds pursuant to the immediately
prior sentence, the Company shall, at its option, deliver a certificate evidencing the Private Placement Warrants purchased on
such date duly registered in the Purchaser’s name to the Purchaser or effect such delivery in book-entry form.

 

     

     

    

 

C.                 
Terms of the Private Placement Warrants.

 

(i)                  
Each Private Placement Warrant shall have the terms set forth in a Warrant Agreement to be entered into by the Company and
a warrant agent on the IPO Closing Date, in connection with the Public Offering (the “Warrant Agreement”).

 

(ii)                 
On the IPO Closing Date, the Company and the Purchaser shall enter into a registration and stockholder rights agreement
(the “Registration and Stockholder Rights Agreement”) pursuant to which the Company will grant certain
registration rights to the Purchaser relating to the Private Placement Warrants and the Shares underlying the Private Placement
Warrants.

 

Section
2.                   Representations
and Warranties of the Company. As a material
inducement to the Purchaser to enter into this Agreement and purchase the Private Placement Warrants, the Company hereby represents
and warrants to the Purchaser (which representations and warranties shall survive each Closing Date) that:

 

A.                
Incorporation and Corporate Power. The Company is a corporation duly incorporated, validly existing and in good standing
under the laws of the State of Delaware and is qualified to do business in every jurisdiction in which the failure to so qualify
would reasonably be expected to have a material adverse effect on the financial condition, operating results or assets of the Company.
The Company possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this
Agreement and the Warrant Agreement.

 

B.                 
Authorization; No Breach.

 

(i)                 
The execution, delivery and performance of this Agreement and the Private Placement Warrants have been duly authorized by
the Company as of the Closing Date. This Agreement constitutes the valid and binding obligation of the Company, enforceable in
accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws
of general applicability relating to or affecting creditors’ rights and to general equitable principles (whether considered
in a proceeding in equity or law). Upon issuance in accordance with, and payment pursuant to, the terms of the Warrant Agreement
and this Agreement, the Private Placement Warrants will constitute valid and binding obligations of the Company, enforceable in
accordance with their terms as of the Closing Date.

 

(ii)               
The execution and delivery by the Company of this Agreement and the Private Placement Warrants, the issuance and sale of
the Private Placement Warrants, the issuance of the Shares upon exercise of the Private Placement Warrants and the fulfillment
of and compliance with the respective terms hereof and thereof by the Company, do not and will not as of the Closing Date (a) conflict
with or result in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation
of any lien, security interest, charge or encumbrance upon the Company’s capital stock or assets under, (d) result in a violation
of, or (e) require any authorization, consent, approval, exemption or other action by or notice or declaration to, or filing with,
any court or administrative or governmental body or agency pursuant to the amended and restated certificate of incorporation of
the Company (in effect on the date hereof or as may be amended prior to completion of the Public Offering) or any material law,
statute, rule or regulation to which the Company is subject, or any agreement, order, judgment or decree to which the Company is
subject, except for any filings required after the date hereof under federal or state securities laws.

 

C.                 
Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant
Agreement, the Shares issuable upon exercise of the Private Placement Warrants will be duly and validly issued, fully paid and
nonassessable. On the date of issuance of the Private Placement Warrants, the Shares issuable upon exercise of the Private Placement
Warrants shall have been reserved for issuance. Upon issuance in accordance with, and payment pursuant to, the terms hereof and
the Warrant Agreement, the Purchaser will have good title to the Private Placement Warrants purchased by it and the Shares issuable
upon exercise of such Private Placement Warrants, free and clear of all liens, claims and encumbrances of any kind, other than
(i) transfer restrictions hereunder and under the other agreements contemplated hereby, (ii) transfer restrictions under federal
and state securities laws, and (iii) liens, claims or encumbrances imposed due to the actions of the Purchaser.

 

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D.                 
Governmental Consents. No permit, consent, approval or authorization of, or declaration to or filing with, any governmental
authority is required in connection with the execution, delivery and performance by the Company of this Agreement or the consummation
by the Company of any other transactions contemplated hereby.

 

E.                  
Regulation D Qualification. Neither the Company nor, to its actual knowledge, any of its affiliates, members, officers,
directors or beneficial stockholders of 20% or more of its outstanding securities, has experienced a disqualifying event as enumerated
pursuant to Rule 506(d) of Regulation D under the Securities Act.

 

Section
3.                     Representations
and Warranties of the Purchaser. As a material
inducement to the Company to enter into this Agreement and issue and sell the Private Placement Warrants to the Purchaser, the
Purchaser hereby represents and warrants to the Company (which representations and warranties shall survive each Closing Date)
that:

 

A.                 
Organization and Requisite Authority. The Purchaser possesses all requisite power and authority necessary to carry
out the transactions contemplated by this Agreement.

 

B.                 
Authorization; No Breach.

 

(i)                 This
Agreement constitutes a valid and binding obligation of the Purchaser, enforceable in accordance with its terms, subject to bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting
creditors’ rights and to general equitable principles (whether considered in a proceeding in equity or law).

 

(ii)               
The execution and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof
by the Purchaser does not and shall not as of each Closing Date (a) conflict with or result in a breach by the Purchaser of the
terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation of any lien, security interest,
charge or encumbrance upon the Purchaser’s equity or assets under, (d) result in a violation of, or (e) require authorization,
consent, approval, exemption or other action by or notice or declaration to, or filing with, any court or administrative or governmental
body or agency pursuant to the Purchaser’s organizational documents in effect on the date hereof or as may be amended prior
to completion of the contemplated Public Offering, or any material law, statute, rule or regulation to which the Purchaser is subject,
or any agreement, instrument, order, judgment or decree to which the Purchaser is subject, except for any filings required after
the date hereof under federal or state securities laws.

 

C.                 
Investment Representations.

 

(i)                 The
Purchaser is acquiring the Private Placement Warrants and, upon exercise of the Private Placement Warrants, the Shares issuable
upon such exercise (collectively, the “Securities”) for its own account, for investment purposes only
and not with a view towards, or for resale in connection with, any public sale or distribution thereof.

 

(ii)                The Purchaser is an “accredited investor” as such term is defined in Rule 501(a)(3) of Regulation
D, and the Purchaser has not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the
Securities Act.

 

(iii)             
The Purchaser understands that the Securities are being offered and will be sold to it in reliance on specific exemptions
from the registration requirements of the United States federal and state securities laws and that the Company is relying upon
the truth and accuracy of, and the Purchaser’s compliance with, the representations and warranties of the Purchaser set forth
herein in order to determine the availability of such exemptions and the eligibility of the Purchaser to acquire such Securities.

 

(iv)              The Purchaser did not decide to enter into this Agreement as a result of any general solicitation or general advertising
within the meaning of Rule 502(c) under the Securities Act.

 

(v)               The
Purchaser has been furnished with all materials relating to the business, finances and operations of the Company and materials
relating to the offer and sale of the Securities which have been requested by the Purchaser. The Purchaser has been afforded the
opportunity to ask questions of the executive officers and directors of the Company. The Purchaser understands that its investment
in the Securities involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered
necessary to make an informed investment decision with respect to the acquisition of the Securities.

 

    3

     

    

 

(vi)              The Purchaser understands that no United States federal or state agency or any other government or governmental agency has
passed on or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities
by the Purchaser nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(vii)            
The Purchaser understands that: (a) the Securities have not been and are not being registered under the Securities Act or
any state securities laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder
or (2) sold in reliance on an exemption therefrom; and (b) except as specifically set forth in the Registration and Stockholder
Rights Agreement, neither the Company nor any other person is under any obligation to register the Securities under the Securities
Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder. In this regard, the Purchaser
understands that the SEC has taken the position that promoters or affiliates of a blank check company and their transferees, both
before and after an initial business combination, are deemed to be “underwriters” under the Securities
Act when reselling the securities of a blank check company. Based on that position, Rule 144 adopted pursuant to the Securities
Act would not be available for resale transactions of the Securities despite technical compliance with the requirements of such
Rule, and the Securities can be resold only through a registered offering or in reliance upon another exemption from the registration
requirements of the Securities Act.

 

(viii)          
The Purchaser has such knowledge and experience in financial and business matters, knowledge of the high degree of risk
associated with investments in the securities of companies in the development stage such as the Company, is capable of evaluating
the merits and risks of an investment in the Securities and is able to bear the economic risk of an investment in the Securities
in the amount contemplated hereunder for an indefinite period of time. The Purchaser has adequate means of providing for its current
financial needs and contingencies and will have no current or anticipated future needs for liquidity which would be jeopardized
by the investment in the Securities. The Purchaser can afford a complete loss of its investments in the Securities.

 

(ix)              
The Purchaser understands that the Private Placement Warrants shall bear the legend substantially in the form set forth
in the Warrant Agreement.

 

Section
4.                     Conditions
of the Purchaser’s Obligations. The
obligations of the Purchaser to purchase and pay for the Private Placement Warrants are subject to the fulfillment, on or before
each Closing Date, of each of the following conditions:

 

A.                 
Representations and Warranties. The representations and warranties of the Company contained in Section 2 shall be
true and correct at and as of the Closing Date as though then made.

 

B.                 
Performance. The Company shall have performed and complied with all agreements, obligations and conditions contained
in this Agreement that are required to be performed or complied with by it on or before such Closing Date.

 

C.                 
No Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have
been enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement or the Warrant Agreement.

 

D.                 
Warrant Agreement and Registration and Stockholder Rights Agreement. The Company shall have entered into the Warrant
Agreement, in the form of Exhibit A hereto, and the Registration and Stockholder Rights Agreement, in the form of Exhibit B hereto,
in each case on terms satisfactory to the Purchaser.

 

    4

     

    

 

Section
5.                     Conditions
of the Company’s Obligations. The obligations
of the Company to the Purchaser under this Agreement are subject to the fulfillment, on or before each Closing Date, of each of
the following conditions:

 

A.                 
Representations and Warranties. The representations and warranties of the Purchaser contained in Section 3 shall
be true and correct at and as of such Closing Date as though then made.

 

B.                 
Performance. The Purchaser shall have performed and complied with all agreements, obligations and conditions contained
in this Agreement that are required to be performed or complied with by the Purchaser on or before such Closing Date.

 

C.                 
Corporate Consents. The Company shall have obtained the consent of its Board of Directors authorizing the execution,
delivery and performance of this Agreement and the Warrant Agreement and the issuance and sale of the Private Placement Warrants
hereunder.

 

D.                 
No Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have
been enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement or the Warrant Agreement.

 

E.                  
Warrant Agreement. The Company shall have entered into the Warrant Agreement.

 

Section
6.                     Miscellaneous.

 

A.                 
Successors and Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained in
this Agreement by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors of
the parties hereto whether so expressed or not. Notwithstanding the foregoing or anything to the contrary herein, the parties may
not assign this Agreement, other than assignments by the Purchaser to affiliates thereof (including, without limitation one or
more of its members).

 

B.                 
Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable
law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder
of this Agreement.

 

C.                 
Counterparts. This Agreement may be executed simultaneously in two or more counterparts, none of which need contain
the signatures of more than one party, but all such counterparts taken together shall constitute one and the same agreement. Signatures
to this Agreement transmitted via facsimile or e-mail shall be valid and effective to bind the party so signing.

 

D.                 
Descriptive Headings; Interpretation. The descriptive headings of this Agreement are inserted for convenience only
and do not constitute a substantive part of this Agreement. The use of the word “including” in this Agreement shall
be by way of example rather than by limitation.

 

E.                  
Governing Law. This Agreement shall be deemed to be a contract made under the laws of the State of New York and for
all purposes shall be construed in accordance with the internal laws of the State of New York, without giving effect to conflicts
of law principles that would result in the application of the laws of another jurisdiction.

 

F.                  
Amendments. This Agreement may not be amended, modified or waived as to any particular provision, except by a written
instrument executed by the parties hereto.

 

[Signature page follows]

 

    5

     

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement.

 

	 	COMPANY:
	 	 
	 	STAR
    PEAK CORP II
	 	 
	 	By:	 
	 	Name:	Eric
    Scheyer
	 	Title:	Chief
    Executive Officer
	 	 
	 	PURCHASER:
	 	 
	 	STAR
    PEAK SPONSOR II LLC
	 	 
	 	By:	MTP
    Energy Management LLC
	 	Its:	Sole
    Member
	 	 
	 	By:	Magnetar
    Financial LLC
	 	Its:	Sole
    Member
	 	 
	 	By:	 
	 	Name:	Eric
    Scheyer
	 	Title:	Authorized
    Signatory

 

     

     

    

 

EXHIBIT
A

Warrant Agreement

 

     

     

    

 

EXHIBIT
B

Registration and Stockholder Rights AgreementEX-10.1

 Exhibit 10.1 

THIRD LOAN MODIFICATION AGREEMENT 

This Third Loan Modification Agreement (this “Loan Modification Agreement”) is entered into as of December 28, 2020, by
and between SILICON VALLEY BANK, a California corporation, with a loan production office located at 275 Grove Street, Suite 2-200, Newton, Massachusetts 02466 (“Bank”), and
BRIGHTCOVE INC., a Delaware corporation with its principal place of business located at 290 Congress Street, Boston, Massachusetts 02210 (“Borrower”). 

1.    DESCRIPTION OF EXISTING INDEBTEDNESS AND OBLIGATIONS. Among other indebtedness and obligations which may be owing by Borrower
to Bank, Borrower is indebted to Bank pursuant to a loan arrangement dated as of December 14, 2018, evidenced by, among other documents, a certain Second Amended and Restated Loan and Security Agreement dated as of December 14, 2018,
between Borrower and Bank, as amended by a certain First Loan Modification Agreement dated as of March 29, 2019, and as further amended by a certain Second Loan Modification Agreement dated as of July 29, 2019 (as has been and as may be
further amended, modified, restated, replaced or supplemented from time to time, the “Loan Agreement”). Capitalized terms used but not otherwise defined herein shall have the same meaning as in the Loan Agreement. 

2.    DESCRIPTION OF COLLATERAL. Repayment of the Obligations is secured by, among other property, the Collateral as defined in the
Loan Agreement (together with any other collateral security granted to Bank, as amended, the “Security Documents”). Hereinafter, the Security Documents, together with all other documents evidencing or securing the Obligations shall
be referred to as the “Existing Loan Documents”. 
 3.    DESCRIPTION OF CHANGE IN TERMS. 

 

	 	A.	 Modifications to Loan Agreement. 

 

	 	1	 Borrower hereby acknowledges and agrees that Borrower will deliver to Bank, on or before the date that is
thirty (30) days from the date of this Loan Modification Agreement, in form and substance satisfactory to Bank: (a) a certificate on the Acord 25 form with respect to Borrower’s general liability insurance policy; (b) a
certificate on the Acord 28 form with respect to Borrower’s property insurance policy; and (c) an endorsement to Borrower’s property insurance policy that names Bank as the sole loss payee with respect to each of Borrower’s
locations. Borrower acknowledges and agrees that the failure of Borrower to satisfy the requirements set forth in the immediately preceding sentence shall result in an immediate Event of Default under the Loan Agreement for which there shall be no
grace or cure period. 

  

	 	2	 The Loan Agreement shall be amended by deleting the following text, appearing in Section 3.6 thereof:

 “    (b) Inability to Determine Applicable Interest Rate. In the event that Bank shall
have determined (which determination shall be final and conclusive and binding upon all parties hereto), on any Interest Rate Determination Date with respect to any LIBOR Advance, that by reason of circumstances affecting the London interbank market
adequate and fair means do not exist for ascertaining the interest rate applicable to such LIBOR Advance on the basis provided for in the definition of LIBOR, Bank shall on such date give notice (by facsimile or by telephone confirmed in writing) to
Borrower of such determination, whereupon (i) no Advances may be made as, or converted to, LIBOR Advances until such time as Bank notifies Borrower that the circumstances giving rise to such notice no longer exist, and (ii) any Notice of
Borrowing or Notice of Conversion/Continuation given by Borrower with respect to LIBOR Advances in respect of which such determination was made shall be deemed to be rescinded by Borrower.” 

  
 1 

 and inserting in lieu thereof the following: 

“    (b) Inability to Determine Applicable Interest Rate. 

(i)     In the event that Bank shall have determined (which determination shall be final and conclusive
and binding upon all parties hereto), on any Interest Rate Determination Date with respect to any LIBOR Advance, that by reason of circumstances affecting the London interbank market adequate and fair means do not exist for ascertaining the interest
rate applicable to such LIBOR Advance on the basis provided for in the definition of LIBOR, Bank shall on such date give notice (by facsimile or by telephone confirmed in writing) to Borrower of such determination, whereupon (A) no Advances may
be made as, or converted to, LIBOR Advances until such time as Bank notifies Borrower that the circumstances giving rise to such notice no longer exist, and (B) any Notice of Borrowing or Notice of Conversion/Continuation given by Borrower with
respect to LIBOR Advances in respect of which such determination was made shall be deemed to be Prime Rate Advances unless such Notice of Borrowing or Notice of Conversion/Continuation shall be rescinded by Borrower in writing within one
(1) Business Day of Bank’s giving of notice of its inability to determine the applicable interest rate for LIBOR Advances pursuant to this Section 3.6(b)(i). 

(ii)    If at any time Bank determines (which determination shall be conclusive absent manifest error)
that (A) the circumstances set forth in Section 3.6(b)(i) have arisen and such circumstances are unlikely to be temporary; or (B) the circumstances set forth in Section 3.6(b)(i) have not arisen but the supervisor for the
administrator of the LIBOR reporting system or a Governmental Authority having jurisdiction over Bank has made a public statement announcing that such administrator has ceased or will cease to provide LIBOR, permanently or indefinitely, or that
LIBOR is no longer representative, then Bank shall determine an alternate rate of interest to LIBOR and a spread adjustment mechanism that gives due consideration to (1) any selection or recommendation of a replacement rate or the mechanism for
determining such a rate or spread adjustment mechanism by the Federal Reserve Board of Governors and/or a committee officially endorsed or convened by the Federal Reserve Board of Governors, or any successor thereto and/or (2) any evolving or
then-prevailing market convention for determining a rate of interest as a replacement to LIBOR for similarly situated loans in the United States at such time, and Bank shall amend this Agreement to reflect such alternate rate of interest, such
spread adjustment, and such other related changes to this Agreement as may be applicable; provided that if such alternate rate of interest shall be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement. Bank shall
provide Borrower with notice of such amendment. Notwithstanding anything to the contrary in Section 12.7, such amendment shall become effective at 5:00 p.m. Pacific time on the tenth (10th) Business Day after Bank has provided such amendment to
Borrower without any further action or consent of Borrower, so long as Bank has not received, by such time, written notice of objection to such amendment from Borrower. In the event that Borrower objects to such amendment, Bank and Borrower shall
endeavor to agree 

  
 2 

 
on an alternate rate of interest that is mutually acceptable. Until an alternate rate of interest shall be determined in accordance with this Section 3.6(b)(ii) (but in the case of the
circumstances described in clause (2) of the first sentence of this Section 3.6(b)(ii), only to the extent that LIBOR for such Interest Period is not available or published at such time on a current basis), (x) any LIBOR Advances requested
to be made shall be made as Prime Rate Advances, and (y) any outstanding LIBOR Advances shall be converted, on the last day of the then-current Interest Period, to Prime Rate Advances.” 

 

	 	3	 The Loan Agreement shall be amended by deleting the following text, appearing in Section 6.6(a) thereof:

 “To permit Bank to monitor Borrower’s financial performance and condition, Borrower shall maintain
Borrower’s primary domestic depository and operating accounts and securities/investment accounts with Bank and Bank’s Affiliates such that all such domestic accounts of Borrower shall contain at least the lesser of (i) Fifteen Million
Dollars ($15,000,000.00) and (ii) eighty percent (80.0%) of the Dollar value of all of Borrower’s domestic accounts at all financial institutions (provided, however, Borrower shall have five (5) days from the date such level is not
attained in order to be in compliance with this subsection (a)).” 
 and inserting in lieu thereof the following: 

“To permit Bank to monitor Borrower’s financial performance and condition, Borrower shall maintain Borrower’s primary domestic
depository and operating accounts and excess cash with Bank and Bank’s Affiliates such that all such domestic accounts of Borrower shall contain at least the lesser of (i) Fifteen Million Dollars ($15,000,000.00) and (ii) eighty
percent (80.0%) of the Dollar value of all of Borrower’s domestic accounts at all financial institutions (provided, however, Borrower shall have five (5) days from the date such level is not attained in order to be in compliance with this
subsection (a)).” 
  

	 	4	 The Loan Agreement shall be amended by deleting the following text, appearing in the definition of
“Permitted Investments” in Section 13.1 thereof: 

 “    (e) Investments in
(i) Brightcove UK Ltd, Borrower’s Subsidiary organized under the laws of England and Wales, for the ordinary and necessary current operating expenses of such Subsidiary in an aggregate amount not to exceed Nine Million Five Hundred
Thousand Sterling (£9,500,000.00) per calendar year, (ii) Brightcove Australia Pty Ltd, Borrower’s Subsidiary organized under the laws of Australia, for the ordinary and necessary current operating expenses of such Subsidiary in an
aggregate amount not to exceed Two Million Five Hundred Thousand Australian Dollars (AU$2,500,000.00) per calendar year, (iii) Brightcove Singapore Pte. Ltd., Borrower’s Subsidiary organized under the laws of Singapore, for the ordinary
and necessary current operating expenses of such Subsidiary in an aggregate amount not to exceed Three Million Singapore Dollars (S$3,000,000.00) per calendar year, (iv) Brightcove Korea, Borrower’s Subsidiary organized under the laws of
South Korea, for the ordinary and necessary current operating expenses of such Subsidiary in an aggregate amount not to exceed One Million South Korean Won (W1,000,000.00) per calendar year, (v) Brightcove S. De R.L. de C.V.,
Borrower’s Subsidiary organized under the laws of Mexico, for the ordinary and necessary current operating expenses of such Subsidiary, in an aggregate amount not to exceed Five Million Dollars ($5,000,000.00) per calendar year, (vi) TV App

  
 3 

 
Agency Unipessoal, Lda. (Zona Franca da Madeira), Borrower’s Subsidiary organized under the laws of Portugal, for the ordinary and necessary current operating expenses of such Subsidiary, in
an aggregate amount not to exceed Two Million Dollars ($2,000,000.00) per calendar year and (vii) foreign Subsidiaries, other than Brightcove S. De R.L. de C.V., formed after the Effective Date, for the ordinary and necessary current operating
expenses of such foreign Subsidiaries in an aggregate amount (for all such Investments in all such Subsidiaries) not to exceed One Million Dollars ($1,000,000.00) per calendar year.” 

and inserting in lieu thereof the following: 

“    (e) Investments in (i) Brightcove UK Ltd, Borrower’s Subsidiary organized under the laws of England
and Wales, for the ordinary and necessary current operating expenses of such Subsidiary in an aggregate amount not to exceed Ten Million Five Hundred Thousand Sterling (£10,500,000.00) per calendar year, (ii) Brightcove Australia Pty Ltd,
Borrower’s Subsidiary organized under the laws of Australia, for the ordinary and necessary current operating expenses of such Subsidiary in an aggregate amount not to exceed Four Million Five Hundred Thousand Australian Dollars
(AU$4,500,000.00) per calendar year, (iii) Brightcove Singapore Pte. Ltd., Borrower’s Subsidiary organized under the laws of Singapore, for the ordinary and necessary current operating expenses of such Subsidiary in an aggregate amount not
to exceed Three Million Five Hundred Thousand Singapore Dollars (S$3,500,000.00) per calendar year, (iv) Brightcove Korea, Borrower’s Subsidiary organized under the laws of South Korea, for the ordinary and necessary current operating
expenses of such Subsidiary in an aggregate amount not to exceed One Million South Korean Won (W1,000,000.00) per calendar year, (v) Brightcove S. De R.L. de C.V., Borrower’s Subsidiary organized under the laws of Mexico,
for the ordinary and necessary current operating expenses of such Subsidiary, in an aggregate amount not to exceed Eight Million Dollars ($8,000,000.00) per calendar year, (vi) TV App Agency Unipessoal, Lda. (Zona Franca da Madeira),
Borrower’s Subsidiary organized under the laws of Portugal, for the ordinary and necessary current operating expenses of such Subsidiary, in an aggregate amount not to exceed Two Million Dollars ($2,000,000.00) per calendar year,
(vii) Brightcove India Private Limited, Borrower’s Subsidiary organized under the laws of India, for the ordinary and necessary current operating expenses of such Subsidiary in an aggregate amount not to exceed Two Million Dollars
($2,000,000.00) per calendar year and (viii) Foreign Subsidiaries formed after December 28, 2020, for the ordinary and necessary current operating expenses of such Foreign Subsidiaries in an aggregate amount (for all such Investments in
all such Foreign Subsidiaries) not to exceed One Million Dollars ($1,000,000.00) per calendar year.” 
  

	 	5	 The Loan Agreement shall be amended by inserting the following new definition, appearing alphabetically in
Section 13.1 thereof: 

 “    “Foreign Subsidiary” means any Subsidiary
which is not a Subsidiary organized under the laws of the United States or any state or territory thereof or the District of Columbia.” 

  
 4 

	 	6	 The Loan Agreement shall be amended by deleting the following definition, appearing in Section 13.1
thereof: 

 “    “Revolving Line Maturity Date” is three (3) years from the
Effective Date.” 
 and inserting in lieu thereof the following: 

“    “Revolving Line Maturity Date” is December 28, 2023.” 

4.    FEES AND EXPENSES. Borrower shall pay to Bank a modification fee equal to Fifty Thousand Dollars ($50,000.00), which fee
shall be due on the date hereof and shall be deemed fully earned as of the date hereof. Borrower shall reimburse Bank for all reasonable legal fees and expenses incurred in connection with this amendment to the Existing Loan Documents. 

5.    PERFECTION CERTIFICATE. Borrower hereby ratifies, confirms and reaffirms, all and singular, the terms and disclosures
contained in a certain Perfection Certificate dated as of December 28, 2020 delivered by Borrower to Bank, and acknowledges, confirms and agrees that the disclosures and information Borrower provided to Bank in such Perfection Certificate have
not changed, as of the date hereof. Borrower acknowledges and agrees that all references in the Loan Agreement to the “Perfection Certificate” shall mean and include the Perfection Certificate as described herein. 

6.    CONSISTENT CHANGES. The Existing Loan Documents are hereby amended wherever necessary to reflect the changes described above.

 7.    RATIFICATION OF LOAN DOCUMENTS. Borrower hereby ratifies, confirms, and reaffirms all terms and conditions of all
security or other collateral granted to Bank, and confirms that the indebtedness secured thereby includes, without limitation, the Obligations. 

8.    RELEASE BY BORROWER. 
  

	 	A.	 FOR GOOD AND VALUABLE CONSIDERATION, Borrower hereby forever relieves, releases, and discharges Bank and its
present or former employees, officers, directors, agents, representatives, attorneys, and each of them, from any and all claims, debts, liabilities, demands, obligations, promises, acts, agreements, costs and expenses, actions and causes of action,
of every type, kind, nature, description or character whatsoever, whether known or unknown, suspected or unsuspected, absolute or contingent, arising out of or in any manner whatsoever connected with or related to facts, circumstances, issues,
controversies or claims existing or arising from the beginning of time through and including the date of execution of this Loan Modification Agreement (collectively “Released Claims”). Without limiting the foregoing, the Released Claims
shall include any and all liabilities or claims arising out of or in any manner whatsoever connected with or related to the Loan Documents, the recitals hereto, any instruments, agreements or documents executed in connection with any of the
foregoing or the origination, negotiation, administration, servicing and/or enforcement of any of the foregoing. 

  

	 	B.	 In furtherance of this release, Borrower expressly acknowledges and waives any and all rights under
Section 1542 of the California Civil Code, which provides as follows: 

 “A general release does not
extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor
or released party.” (Emphasis added.) 
  

	 	C.	 By entering into this release, Borrower recognizes that no facts or representations are ever absolutely certain
and it may hereafter discover facts in addition to or different from those which it presently knows or believes to be true, but that it is the intention of Borrower hereby to fully, finally and forever settle and release all matters, disputes and
differences, known or unknown, suspected or unsuspected; 

  
 5 

	 	
accordingly, if Borrower should subsequently discover that any fact that it relied upon in entering into this release was untrue, or that any understanding of the facts was incorrect, Borrower
shall not be entitled to set aside this release by reason thereof, regardless of any claim of mistake of fact or law or any other circumstances whatsoever. Borrower acknowledges that it is not relying upon and has not relied upon any representation
or statement made by Bank with respect to the facts underlying this release or with regard to any of such party’s rights or asserted rights. 

  

	 	D.	 This release may be pleaded as a full and complete defense and/or as a cross-complaint or counterclaim against
any action, suit, or other proceeding that may be instituted, prosecuted or attempted in breach of this release. Borrower acknowledges that the release contained herein constitutes a material inducement to Bank to enter into this Loan Modification
Agreement, and that Bank would not have done so but for Bank’s expectation that such release is valid and enforceable in all events. 

  

	 	E.	 Borrower hereby represents and warrants to Bank, and Bank is relying thereon, as follows:

  

	 	1	 Except as expressly stated in this Loan Modification Agreement, neither Bank nor any agent, employee or
representative of Bank has made any statement or representation to Borrower regarding any fact relied upon by Borrower in entering into this Loan Modification Agreement. 

 

	 	2	 Borrower has made such investigation of the facts pertaining to this Loan Modification Agreement and all of the
matters appertaining thereto, as it deems necessary. 

  

	 	3	 The terms of this Loan Modification Agreement are contractual and not a mere recital. 

 

	 	4	 This Loan Modification Agreement has been carefully read by Borrower, the contents hereof are known and
understood by Borrower, and this Loan Modification Agreement is signed freely, and without duress, by Borrower. 

  

	 	5	 Borrower represents and warrants that it is the sole and lawful owner of all right, title and interest in and
to every claim and every other matter which it releases herein, and that it has not heretofore assigned or transferred, or purported to assign or transfer, to any person, firm or entity any claims or other matters herein released. Borrower shall
indemnify Bank, defend and hold it harmless from and against all claims based upon or arising in connection with prior assignments or purported assignments or transfers of any claims or matters released herein. 

9.    CONTINUING VALIDITY. Borrower understands and agrees that in modifying the existing Obligations, Bank is relying upon
Borrower’s representations, warranties, and agreements, as set forth in the Existing Loan Documents. Except as expressly modified pursuant to this Loan Modification Agreement, the terms of the Existing Loan Documents remain unchanged and in
full force and effect. Bank’s agreement to modifications to the existing Obligations pursuant to this Loan Modification Agreement in no way shall obligate Bank to make any future modifications to the Obligations. Nothing in this Loan
Modification Agreement shall constitute a satisfaction of the Obligations. It is the intention of Bank and Borrower to retain as liable parties all makers of Existing Loan Documents, unless the party is expressly released by Bank in writing. No
maker will be released by virtue of this Loan Modification Agreement. 
 10.    COUNTERSIGNATURE. This Loan Modification
Agreement shall become effective only when it shall have been executed by Borrower and Bank. 

  
 6 

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 7 

 IN WITNESS WHEREOF, the parties hereto have caused this Loan Modification Agreement to be
executed as a sealed instrument under the laws of the Commonwealth of Massachusetts as of the date first written above. 
  

									
	 BORROWER:
  

BRIGHTCOVE INC.
	 		 	 BANK:
  

SILICON VALLEY BANK

					
	By:	 	/s/ Robert Noreck	 		 	By:	 	/s/ Frank Groccia
	Name:	 	Robert Noreck	 		 	Name:	 	Frank Groccia
	Title:	 	Chief Financial Officer, Treasurer	 		 	Title:	 	Director

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