Document:

Exhibit 10.10

 

THE SECURITIES REPRESENTED BY THIS NOTE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF.  NO SUCH TRANSFER MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

OPGEN, INC.

AMENDED AND RESTATED

SECURED CONVERTIBLE PROMISSORY NOTE

	
Note No. N-______

Amount: $___________

	
Issue Date:  _______ __, 2015

1.            Principal Amount.  For value received, OpGen, Inc., a Delaware corporation (the "Company), does hereby promise to pay to the order of ________________________________ or its permitted assignee (the "Holder"), the principal sum of __________________ and ___/100 Dollars ($__________), plus interest accrued thereon, as hereinafter specified (collectively, the "Obligations") on the earliest to occur of (i) February 17, 2016 (the "Maturity Date") or (ii) an Event of Default (as defined below).

2.            Notes Purchase Agreement.  This Note is one of a series of promissory notes (the "Financing Notes") issued pursuant to the Notes Purchase Agreement, dated as of February 11, 2015, among the Company and the investors named therein (as the same may be amended from time to time, the "Purchase Agreement"), and is subject to the provisions thereof.  Capitalized terms used but not defined herein have the meanings given to them in the Purchase Agreement.

3.            Definitions.  In addition to the other terms defined herein, the following terms shall have the following meanings ascribed to them:

3.1      "Bankruptcy Law" means Title 11, United States Code or any similar Federal or state law for the relief of debtors.

3.2      "IPO" means an initial public offering of the securities of the Company registered under the Securities Act.

3.3      "Requisite Holders" means the holders holding at least 67% of the principal amount then outstanding of the Financing Notes.

3.4      "Securities Act" means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

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4.      Interest.  The Company agrees to pay interest, from the date hereof on the unpaid principal amount, at a rate equal to eight percent (8%) per annum, compounded annually (the "Interest Rate"), until the principal amount and all interest accrued thereon are paid (or converted, as provided in Section 5 hereof).  Subject to Section 5 hereof, interest shall be due and payable to the Holder on the Maturity Date.  In no event shall the amount of interest paid or agreed to be paid to the Holder hereunder exceed the highest lawful rate permissible under any law which a court of competent jurisdiction may deem applicable hereto.  In such event, the Interest Rate shall automatically be reduced to the maximum rate permitted by such law.

5.      Conversion.

5.1      Conversion.  This Note will be convertible (the "Conversion"), in whole and not in part:

(a)      at the option of the Holder, into shares of the Company's common stock, par value $0.01 per share ("Common Stock"), at any time after the closing of an IPO; or

(b)      at the option of the Holder, into shares of the Company's Series A Convertible Preferred Stock, par value $0.01 per share ("Series A Preferred Stock"), if no IPO has been consummated.

5.2      Conversion Rate.

(a)      Upon Conversion pursuant to Section 5.1(a), this Note shall be converted into one (1) share of Common Stock for each $1.00 of principal remaining on the Note.

(b)      Upon Conversion pursuant to Section 5.1(b), this Note shall be converted into one and one quarter (1.25) shares of Series A Preferred Stock for each $1.00 of principal remaining on this Note.

(c)      Any accrued and unpaid interest on this Note shall be paid in cash at the time of Conversion.

5.3      Mechanics and Effect of Conversion.

(a)      No fractional units will be issued upon conversion of this Note.  In lieu of any fractional units to which the Holder may otherwise be entitled, the Company will pay to the Holder in cash the unconverted amount that would otherwise be converted into such fractional units.

 

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(b)      Upon Conversion of this Note and payment of all accrued and unpaid interest due hereunder, the Holder shall surrender this Note, duly endorsed, at the principal offices of the Company or any transfer agent of the Company, and this Note shall be canceled in all respects.  The Company will, at its expense, as soon as practicable thereafter, issue and deliver to the Holder a certificate or certificates for the number of shares of Common Stock or Series A Preferred Stock, as applicable, to which the Holder is entitled upon the Conversion.

(c)      Upon Conversion of this Note and payment of all accrued and unpaid interest due hereunder, the Company will be forever released from all of its obligations and liabilities under this Note with regard to that portion of the principal amount and accrued interest being converted, including, without limitation, the obligation to pay such portion of the principal amount and accrued interest.

5.4      Authorization of Conversion Shares.  The Company hereby covenants and agrees to take all such actions as may be necessary to authorize such number of additional shares of Common Stock and Series A Preferred Stock as will be sufficient to accomplish the Conversion.

	6.	Security Agreement.

This Note is subject to the terms and conditions of that certain Security Agreement dated as of February 17, 2015, by and between the Company and each holder of the Financing Notes (as amended or restated from time to time, the "Security Agreement"), and each holder of this Note, by his, her or its acceptance hereof, is entitled to the rights and benefits of, and agrees to be bound by, the Security Agreement.

7.            Payment.

7.1      Repayment.  All payment of principal shall be due and payable in lawful money of the United States of America at the principal office of the Holder, or at such other place as the holder hereof may from time to time designate in writing to the Company, not later than 1:00 p.m. Pacific Time on the Maturity Date, unless this Note shall have been previously converted pursuant to Section 5 above.  All payments shall be applied first to interest accrued and unpaid hereunder, and thereafter to principal.

7.2      Prepayment.  The Company may prepay, without penalty, any principal amount on this Note, in whole or in part, at any time following the three-month anniversary of the closing of an IPO, provided that any prepayment between the 3-month anniversary of the closing of an IPO and the 6-month anniversary of an IPO may only be paid from capital raised by the Company subsequent to such IPO.  Any prepayment will be applied first to interest accrued and unpaid hereunder, and thereafter to principal.

8.            Events of Default.  The occurrence of any one or more of the following events shall constitute an "Event of Default" under this Note:

8.1      Payment Default.  The Company shall fail to pay the outstanding principal or accrued interest amount due hereunder or the outstanding principal due or accrued interest amount due under any of the Financing Notes, or any portion thereof when due, whether on the Maturity Date, or on such earlier date as is required by Section 9, or otherwise;

8.2      Other Default.  The Company shall materially breach the terms of this Note, or other material agreements between the Company and the holders of the Financing Notes, and shall fail to cure such material breach within ten (10) days after written notice thereof to the Company;

 

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8.3      Other Indebtedness.  The Company shall default under any other material indebtedness of the Company, and shall fail to cure such default within ten (10) days after written notice thereof to the Company; or

8.4      Bankruptcy, Etc.  (a) The Company, pursuant to or within the meaning of any Bankruptcy Law, (i) admits in writing its inability to pay its debts generally as they become due, (ii) commences a voluntary case or proceeding under any Bankruptcy Law with respect to itself, (iii) consents to the entry of a judgment, decree or order for relief against it in an involuntary case or proceeding under any Bankruptcy Law, (iv) consents to the appointment of a custodian of it or for any part of its assets, (v) consents to or acquiesces in the institution of bankruptcy or insolvency proceedings against it, (vi) applies for, consents to or acquiesces in the appointment of or taking possession by a custodian of the Company or for any part of its assets, (vii) makes a general assignment for the benefit of its creditors, or (viii) takes any corporate act to authorize any of the foregoing; or (b) an involuntary petition is filed against the Company (unless such petition is dismissed or discharged within sixty (60) days) under any Bankruptcy Law now or hereafter in effect, or a custodian, receiver, trustee or assignee for the benefit of creditors (or other similar official) is appointed to take possession, custody or control of any property of the Company.

9.            Remedies.  Upon or at any time after the occurrence of an Event of Default specified in Sections 8.1, 8.2, or 8.3 hereof, all Obligations under this Note shall, upon the demand of the Holder, become due and payable without further presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived.  Upon the occurrence of an Event of Default specified in Section 8.4 hereof, all Obligations shall thereupon and concurrently therewith become due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived.

10.            Waiver and Amendment.  Any waiver by the Holder of a breach of any provision of this Note shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Note.  The failure or delay of the Holder to insist upon strict adherence to any term of this Note on one or more occasions shall not be considered a waiver or deprive Holder of the right thereafter to insist upon strict adherence to that term or any other term of this Note.  Any waiver must be in writing.  Any term of this Note may be amended and the observance of any term of this Note may be waived (either generally or in a particular instance and either retroactively or prospectively), with the written consent of the Company and the Requisite Holders, except for the provisions of Section 5 or other provisions related to the Conversion of this Note, which provisions can only be amended with the written consent of the Holder.  This Note may not be terminated or amended and the observance of any term of this Note may not be waived with respect to the Holder without the consent of such Holder unless such amendment, termination or waiver applies to all holders of the Financing Notes in the same fashion.  Any waiver or amendment effected in accordance with this section shall be binding upon the Company and the Holder.

11.            Governing Law.  EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THE PURCHASE AGREEMENT, IN ALL RESPECTS, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, THIS NOTE AND THE OBLIGATIONS ARISING HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE APPLICABLE TO OBLIGATIONS MADE AND PERFORMED IN THAT STATE, AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA.

 

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12.            Transfer.  This Note may not be transferred or assigned in any manner without the prior written consent of the Company (which consent may be withheld in its sole and absolute discretion); provided, however, that no prior written consent of the Company shall be required for any transfer of this Note to any venture capital fund now or hereafter existing which is controlled by or under common control with one or more general partners or managing members of the Holder or shares the same management company with the Holder, and, provided, further, that no pledge of this Note by the Holder pursuant to a credit facility or other bank indebtedness shall be considered an assignment hereunder requiring the Company's consent.  Any attempted transfer or assignment of this Note (or any portion thereof) not complying with this Section 12 shall be null and void.

13.            Notices.  Notices hereunder shall be made as described in the Purchase Agreement.

14.            Stockholders, Officers and Directors Not Liable.  In no event shall any stockholder, officer or director of the Company be liable for any amounts due or payable pursuant to this Note.  This Note is solely an obligation of the Company.

15.            Loss of Note.  Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Note or any Note exchanged for it, and indemnity satisfactory to the Company (in case of loss, theft or destruction) or surrender and cancellation of such Note (in the case of mutilation), the Company will make and deliver in lieu of such Note a new Note of like tenor.

[Signature page follows]

 

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IN WITNESS WHEREOF, the Company has executed and delivered this Note as of the day and year first above written.

COMPANY:

OPGEN, INC.,

a Delaware corporation

By:    ___________________________________

Name:  C. Eric Winzer

Title:    Chief Financial Officer

 

 

 

 

[Signature Page to Note]Exhibit 10.11

 

AMENDED AND RESTATED INTERCREDITOR AGREEMENT

THIS AMENDED AND RESTATED INTERCREDITOR AGREEMENT, dated as of February 17, 2015 (this "Agreement"), is by and among Harris & Harris Group, Inc., collateral agent under the 2014 Convertible Notes Security Agreement (as defined below) (in such capacity, the "2014 Convertible Notes Collateral Agent"), Harris & Harris Group, Inc., collateral agent under the 2015 Convertible Notes Security Agreement (as defined below) (in such capacity, the "2015 Convertible Notes Collateral Agent"), Harris & Harris Group, Inc., collateral agent under the Demand Notes Security Agreement (as defined below) (in such capacity, the "Demand Notes Collateral Agent"), each of the Secured Parties (as defined below) party hereto and OpGen, Inc., a Delaware corporation (the "Debtor").

BACKGROUND

A.   Pursuant to that certain Security Agreement dated as of July 11, 2014  (the "2014 Convertible Notes Security Agreement") among Debtor, the 2014 Convertible Notes Collateral Agent and the secured parties party thereto (the "2014 Convertible Notes Secured Parties"), the Debtor granted a security interest to the 2014 Convertible Notes Collateral Agent, for the benefit of the 2014 Convertible Notes Secured Parties, in substantially all of the Debtor's assets as security for those certain Secured Convertibles Notes (as the same may be amended or restated from time to time, the "2014 Convertible Notes") issued in connection therewith.

B.   Pursuant to that certain Security Agreement dated as of October 16, 2014 (the "Demand Notes Security Agreement") among the Debtor, the Demand Notes Collateral Agent and the secured parties party thereto (who are some, but not all, of the Convertible Notes Secured Parties) (the "Demand Notes Secured Parties"), the Debtor granted a security interest to the Demand Notes Collateral Agent, for the benefit of the Demand Notes Secured Parties, in substantially all of the Debtor's assets as security for those certain Secured Demand Notes (as the same may be amended or restated from time to time, the "Demand Notes") issued in connection therewith.

C.   Pursuant to that certain Security Agreement dated as of the date hereof (the "2015 Convertible Notes Security Agreement") among Debtor, the 2015 Convertible Notes Collateral Agent and the secured parties thereto (the "2015 Convertible Notes Secured Parties"), the Debtor granted a security interest to the 2015 Convertible Notes Collateral Agent, for the benefit of the 2015 Convertible Notes Secured Parties, in substantially all of the Debtor's assets as security for those certain Secured Convertible Promissory Notes (as the same may be amended or restated from time to time, the "2015 Convertible Notes") issued in connection therewith.

D.   The 2014 Convertible Notes Collateral Agent, the 2014 Convertible Notes Secured Parties, the Demand Notes Collateral Agent, the Demand Notes Secured Parties and the Debtor previously entered into that certain Intercreditor Agreement dated as of October 30, 2014 (the "Prior Agreement").

 

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E.   The 2014 Convertible Notes Collateral Agent, 2015 Convertible Notes Collateral Agent, the 2014 Convertible Notes Secured Parties, the 2015 Convertible Notes Secured Parties, the Demand Notes Collateral Agent and the Demand Notes Secured Parties, desire to amend and restate the Prior Agreement to coordinate and provide for the application of any amounts received in any realization on the assets of the Debtor following a Foreclosure Event (as defined below), and the parties hereto have agreed to enter into this Agreement.

F.   In accordance with Section 4(A) of the Prior Agreement, the required parties have agreed to amend and restate the Prior Agreement in the form of this Agreement and, therefore, all Secured Parties (whether or not signing this Agreement) shall become bound by this Agreement.

AGREEMENT

NOW, THEREFORE, in consideration of the premises and intending to be legally bound hereby, the parties hereto agree as follows:

1.     DEFINITIONS

In addition to the other terms defined in the first paragraph and the Background recitals, the following terms shall have the meanings set forth:

"2015 Obligations" means all principal of and interest on and all other fees due from the Debtor under each of the 2015 Convertible Notes and any other Secured Obligations (as defined in the 2015 Convertible Notes Security Agreement).

"Collateral Agent" means, as the context requires, the 2014 Convertible Notes Collateral Agent, the 2015 Convertible Notes Collateral Agent or the Demand Notes Collateral Agent, or all of them.

"Demand Notes Obligations" means all principal of and interest on and all other fees due from the Debtor under each of the Demand Notes and any other Secured Obligations (as defined in the Demand Notes Security Agreement).

"Event of Default" means either (i) an Event of Default (as defined in the 2014 Convertible Notes Security Agreement), an Event of Default (as defined in the 2015 Convertible Notes Security Agreement) or (iii) an Event of Default (as defined in the Demand Notes Security Agreement).

"First-Lien Collateral Agent" means, as the context requires, the 2015 Convertible Notes Collateral Agent or the Demand Notes Collateral Agent, or both.

"First-Lien Obligations" means, collectively, the 2015 Obligations and the Demand Notes Obligations.

"First-Lien Secured Parties" means, collectively, the 2015 Convertible Notes Secured Parties and the Demand Notes Secured Parties.

"Foreclosure Event" means the determination by a Collateral Agent to enforce its remedies against the Debtor and the Debtor's assets either by enforcing its security interest on such assets, by seeking a judgment against the Debtor or otherwise, following the occurrence and during the continuation of an Event of Default.

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"Obligations" means, collectively, the 2015 Obligations, Second-Lien Obligations and the Demand Notes Obligations.

"Second-Lien Obligations" means all principal of and interest on and all other fees due from the Debtor under each of the 2014 Convertible Notes and any other Secured Obligations (as defined in the 2014 Convertible Notes Security Agreement).

"Second-Lien Secured Parties" means the 2014 Convertible Notes Secured Parties.

"Secured Parties" means, collectively, the 2014 Convertible Notes Secured Parties, 2015 Convertible Notes Secured Parties and the Demand Notes Secured Parties; and each individually, as the context requires, a "Secured Party".

"Security Agreements" means collectively the 2014 Convertible Notes Security Agreement, 2015 Convertible Notes Security Agreement, and the Demand Notes Security Agreement; and each individually, as the context requires, a "Security Agreement".

2.     SECURITY INTERESTS.

A.  It is agreed that as among the Collateral Agents, the valid and perfected security interests and liens of each First-Lien Collateral Agent, on behalf of the applicable First-Lien Secured Parties, in the assets of Debtor shall for all purposes rank equally in priority with the valid and perfected security interests and liens of the other First-Lien Collateral Agent, on behalf of the applicable First-Lien Secured Parties, irrespective of the time or order of the attachment or perfection of the security interests or liens, the order of filing of any financing statements or any other circumstance whatsoever.

B.  It is agreed that as among the Collateral Agents, the valid and perfected security interests and liens of each First-Lien Collateral Agent, on behalf of the applicable First-Lien Secured Parties, in the assets of Debtor shall for all purposes rank senior in priority with the valid and perfected security interests and liens of the Second-Lien Collateral Agent, on behalf of the applicable Second-Lien Secured Parties, irrespective of the time or order of the attachment or perfection of the security interests or liens, the order of filing of any financing statements or any other circumstance whatsoever.

C.  It is agreed that as among the Collateral Agents, the valid and perfected security interests and liens of the Second-Lien Collateral Agent, on behalf of the applicable Second-Lien Secured Parties, in the assets of Debtor shall for all purposes rank junior and subordinate in priority with the valid and perfected security interests and liens of the First-Lien Collateral Agents, on behalf of the applicable First-Lien Secured Parties, irrespective of the time or order of the attachment or perfection of the security interests or liens, the order of filing of any financing statements or any other circumstance whatsoever.

 

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D.  All liens on the assets of Debtor securing any First-Lien Obligations shall be and remain senior in all respects and prior to all liens on assets of Debtor securing any Second-Lien Obligations for all purposes, whether or not such liens securing any First-Lien Obligations are subordinated to any lien securing any other obligation of the Debtor. The parties hereto acknowledge and agree that it is their intent that (i) the First-Lien Obligations (and the security therefor) constitute a separate and distinct class (and separate and distinct claims) from the Second-Lien Obligations (and the security therefor) and (ii) the grant of liens securing payment and performance of the First-Lien Obligations and the grant of liens securing payment and performance of the Second-Lien Obligations are two separate grants and create two separate and distinct liens with each such lien securing only the First-Lien Obligations or the Second-Lien Obligations, as the case may be.

E.  To the extent that any Collateral Agent is or shall be in possession of any asset of the Debtor with respect to which asset possession is the means of perfection of a security interest therein, such Collateral Agent agrees to hold such assets as agent for itself and the other Collateral Agents for the sole purpose of perfection.

F.  For the avoidance of doubt, each of the Secured Parties and each of the Collateral Agents agree that the security interest granted under the Demand Notes Security Agreement and the security interest granted under 2015 Convertible Notes Security Agreement shall be deemed a "Permitted Lien" in all respects and for all purposes under each of the Security Agreements.

		3.	FORECLOSURE EVENT; APPLICATION OF PROCEEDS

A.  Each Collateral Agent shall notify the other Collateral Agents promptly of the occurrence of a Foreclosure Event.

B.  In the event that a Collateral Agent has notified the other Collateral Agents that a Foreclosure Event has occurred and a Collateral Agent or any Secured Party shall thereafter obtain payment of any amounts owing with respect to any Obligations through exercise of a right of set-off or counterclaim, from any realization (whether through enforcement of security interests or other liens, attachment or otherwise) on any assets of the Debtor, or otherwise, such amounts shall be applied in the order set forth below (to the extent permitted by applicable law):

i.  To the payment of all costs, expenses, liabilities and advances made or incurred by such Collateral Agent in connection with obtaining such payment (including reasonable fees of counsel).

ii.  The remainder of such proceeds, if any, after the application of proceeds in accordance with the preceding clause i, to the payment to the First-Lien Secured Parties of the outstanding principal amount of First-Lien Obligations which remain unpaid at such date, pro rata between the First-Lien Secured Parties in accordance with the outstanding principal amount of such First-Lien Obligations on such date.

iii.  The remainder of such proceeds, if any, after the application of proceeds in accordance with the preceding clauses i, and ii, to the payment to the First-Lien Secured Parties of all other First-Lien Obligations outstanding on such date, including, without limitation, interest, premium, if any, and fees, pro rata between the First-Lien Secured Parties in accordance with the outstanding amount of such First-Lien Obligations.

 

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iv.  The remainder of such proceeds, if any, after the application of proceeds in accordance with the preceding clauses i, ii and iii, to the payment to the Second-Lien Secured Parties of the outstanding principal amount of Second-Lien Obligations which remain unpaid at such date, pro rata between the Second-Lien Secured Parties in accordance with the outstanding principal amount of such Second-Lien Obligations on such date.

v.  The remainder of such proceeds, if any, after the application of proceeds in accordance with the preceding clauses i, ii, iii and iv, to the payment to the Second-Lien Secured Parties of all other Second-Lien Obligations outstanding on such date, including, without limitation, interest, premium, if any, and fees, pro rata between the Second-Lien Secured Parties in accordance with the outstanding amount of such Second-Lien Obligations.

vi.  The remainder of such proceeds, if any, after the application of proceeds in accordance with the preceding clauses i, ii, iii, iv and v and payment in full of all Obligations, to the Debtor, its successors or assigns, or otherwise as a court of competent jurisdiction may direct.

4.     MISCELLANEOUS.

A.  This Agreement may be modified in a writing signed by the Debtor, each of the Collateral Agents on behalf of the applicable Secured Parties and the holders of 67% of the outstanding principal amount of the 2014 Convertible Notes, 2015 Convertible Notes and the Demand Notes (taken as a whole).

B.  This Agreement is solely for the benefit of the Collateral Agents, the Secured Parties and their respective successors and assigns, and neither the Debtor nor its successors or assigns, or any other person, shall have any right, benefit, priority or interest under, or because of the existence of, this Agreement.

C.  All notices, requests, demands, claims, consents and other communications delivered hereunder (whether or not required to be delivered hereunder) shall be delivered in accordance with Section 17 of each Security Agreement.

D.  This Agreement may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which shall be an original, but all of which together shall constitute one instrument.  Delivery of an executed counterpart by electronic means shall be effective as delivery of a manually executed counterpart of this Agreement.  This Agreement shall not be valid and enforceable until a counterpart signature page is received from each party hereto and then shall be valid and enforceable against all signatories.

 

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E.  This Agreement (including any claim or controversy arising out of or relating to this Agreement) shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to conflict of law principles that would result in the application of any law other than the laws of the State of Delaware.

F.  This Agreement constitutes the full and entire understanding and agreement among the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties is expressly canceled.  Upon the effective date of this Agreement, the Prior Agreement shall terminate and be of no further force and effect and shall be superseded and replaced in its entirety by this Agreement.

[The remainder of this page is intentionally left blank.]

 

 

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IN WITNESS WHEREOF, each of the undersigned has caused this Agreement to be duly executed as of the date first above written.

DEBTOR

OPGEN, INC.

By:  /s/ C. Eric Winzer

Name: C. Eric Winzer

Title:  Chief Financial Officer

 

 

 [Signature Page to Amended and Restated Intercreditor Agreement]

IN WITNESS WHEREOF, each of the undersigned has caused this Agreement to be duly executed as of the date first above written.

COLLATERAL AGENTS

HARRIS & HARRIS GROUP, INC.,

as 2014 Convertible Notes Collateral Agent

By:  /s/ Daniel Wolfe

Name: Daniel Wolfe

Title:  President

HARRIS & HARRIS GROUP, INC.,

as 2015 Convertible Notes Collateral Agent

By:

Name:Daniel Wolfe

Title:

HARRIS & HARRIS GROUP, INC.,

as Demand Notes Collateral Agent

By:

Name:Daniel Wolfe

Title:

 

 

 [Signature Page to Amended and Restated Intercreditor Agreement]

 

 

IN WITNESS WHEREOF, each of the undersigned has caused this Agreement to be duly executed as of the date first above written.

SECURED PARTIES UNDER DEMAND NOTES SECURITY AGREEMENT

HARRIS & HARRIS GROUP, INC.

By:

Name:  Daniel Wolfe

Title:  President

JVEN CAPITAL, LLC

By:

Name:  Evan Jones

Title:  Authorized Signatory

VERSANT VENTURE CAPITAL III, L.P.,

By:    Versant Venture III, LLC,

          its General Partner

By:

Name:Brian Atwood

Title:Managing Director

VERSANT SIDE FUND III, L.P.,

By:     Versant Venture III, LLC,

            its General Partner

By:

Name:  Brian Atwood

Title:  Managing Director

 

 [Signature Page to Amended and Restated Intercreditor Agreement]

CROSS CREEK CAPITAL, L.P.

By:   Cross Creek Capital GP, L.P.,

         its Sole General Partner

By:

Name:  Tyler Christenson

Title:  Director

CROSS CREEK CAPITAL EMPLOYEES' FUND, L.P.

By:     Cross Creek Capital GP, L.P.,

           its Sole General Partner

By:

Name:  Tyler Christenson

Title:  Director

 

 

 [Signature Page to Amended and Restated Intercreditor Agreement]

IN WITNESS WHEREOF, each of the undersigned has caused this Agreement to be duly executed as of the date first above written.

SECURED PARTIES UNDER 2014 CONVERTIBLE NOTES SECURITY AGREEMENT

HARRIS & HARRIS GROUP, INC.

By:

Name:  Daniel Wolfe

Title:  President

JVEN CAPITAL, LLC

By:

Name:  Evan Jones

Title:  Authorized Signatory

VERSANT VENTURE CAPITAL III, L.P.,

By:      Versant Venture III, LLC,

            its General Partner

By:

Name: Brian Atwood

Title:  Managing Director

VERSANT SIDE FUND III, L.P.,

By:      Versant Venture III, LLC,

             its General Partner

By:

Name:  Brian Atwood

Title:  Managing Director

 

  

 

[Signature Page to Amended and Restated Intercreditor Agreement]

CROSS CREEK CAPITAL, L.P.

By:        Cross Creek Capital GP, L.P.,

               its Sole General Partner

By:

Name: Tyler Christenson

Title: Director

CROSS CREEK CAPITAL EMPLOYEES' FUND, L.P.

By:          Cross Creek Capital GP, L.P.,

its Sole General Partner

By:

Name: Tyler Christenson

Title: Director

ALEXANDRIA EQUITIES, LLC

By:         Alexandria Real Estate Equities, Inc.,

its Managing Member

By:

Name: Eric S. Johnson

Title: Vice President

           Real Estate Legal Affairs

OPGEN INVESTORS, LLC

By:         Golden Angels Investors, LLC,

its Manager

By:

Name: Timothy Keane

Title: Manager, Golden Angels Investors, LLC

 

 [Signature Page to Amended and Restated Intercreditor Agreement]

CAPITAL EXPRESS GROUP, LLC

By:

Name: John A. Sargent

Title: Sole Principal

MAGIS INVESTMENTS, LLC

By:

Name: Gregory J. Lynch

Title: Member

JOHN WHITEHEAD INDIVIDUAL RETIREMENT ACCOUNT

By:

Name: John Whitehead

Title:

LON P. FREDERICK

PAUL A. AND GLORIA M. FREDERICK REVOCABLE TRUST DATED THE 7TH OF FEBRUARY, 2011

By:

Name: Paul A. Frederick

Title: Trustee

By:

Name: Gloria M. Frederick

Title: Trustee

 

 [Signature Page to Amended and Restated Intercreditor Agreement]

JANICE KING IVEY

 

 

 

WILLIAM MARTIN IVEY

LYNN HOFFMAN HENDERSON

MICHAEL DIEHL SMITH

RYLAND A. WINSTON, JR.

VIRGINIA COLLETT

 

 

 

[Signature Page to Amended and Restated Intercreditor Agreement]

 

IN WITNESS WHEREOF, each of the undersigned has caused this Agreement to be duly executed as of the date first above written.

SECURED PARTIES UNDER 2015 CONVERTIBLE NOTES SECURITY AGREEMENT

HARRIS & HARRIS GROUP, INC.

By:  /s/ Daniel Wolfe

Name: Daniel Wolfe

Title: President

JVEN CAPITAL, LLC

By: /s/ Evan Jones

Name: Evan Jones

Title: Managing Member

VERSANT VENTURE CAPITAL III, L.P.,

By:          Versant Venture III, LLC,

its General Partner

By: /s/ Brian Atwood

Name: Brian Atwood

Title: Managing Director

VERSANT SIDE FUND III, L.P.,

By:         Versant Venture III, LLC,

its General Partner

By: /s/ Brian Atwood

Name: Brian Atwood

Title: Managing Director

 

[Signature Page to Amended and Restated Intercreditor Agreement]

  

CROSS CREEK CAPITAL, L.P.

By:         Cross Creek Capital GP, L.P.,

its Sole General Partner

By: /s/ Tyler Christenson

Name: Tyler Christenson

Title: Director

CROSS CREEK CAPITAL EMPLOYEES' FUND, L.P.

By:          Cross Creek Capital GP, L.P.,

its Sole General Partner

By: /s/ Tyler Christenson

Name: Tyler Christenson

Title: Director

  

 

/s/ Virginia Collett

VIRGINIA COLLETT

  

 

/s/ John C. Lee IV

JOHN C. LEE IV

THUNDER RIVER LLC

By: /s/ Charles M. Fleischman

Name: Charles M. Fleischman

Title:    Authorized Signatory

 

 

[Signature Page to Amended and Restated Intercreditor Agreement]

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