Document:

Exhibit 10.1 Third Amendment to Credit Agreement

EXECUTION VERSION

THIRD AMENDMENT
This Third Amendment, dated as of March 31, 2015 (this “Amendment”), to the Credit Agreement, dated as of August 6, 2013 (as amended by the First Amendment, dated as of January 29, 2014 and the Second Amendment, dated as of December 12, 2014, and as further amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among others, COLONY FINANCIAL, INC. (the “Borrower”), the several banks and other financial institutions or entities from time to time parties thereto (the “Lenders”) and JPMORGAN CHASE BANK, N.A., as administrative agent (in such capacity, the “Administrative Agent”).  
W I T N E S S E T H:
WHEREAS, the Borrower, the Lenders and the Administrative Agent are parties to the Credit Agreement, and the Borrower has requested that the Credit Agreement be amended as set forth herein; 
WHEREAS, as permitted by Section 10.1 of the Credit Agreement, the Administrative Agent and the Required Lenders are willing to agree to this Amendment upon the terms and conditions set forth herein;

NOW, THEREFORE, in consideration of the premises contained herein, the parties hereto agree as follows:
SECTION 1.Defined Terms.  Unless otherwise defined herein, capitalized terms are used herein as defined in the Credit Agreement as amended hereby.
SECTION 2.Amendments.  
(i)Section 1.1 of the Credit Agreement is hereby amended by adding the following new definition in the appropriate alphabetical order:
“Existing Limited Guarantees”:  those certain guaranties in respect of Non-Recourse Indebtedness of Subsidiaries of the REIT Entity entered into prior to the Third Amendment Effective Date by the REIT Entity, in each case, solely to the extent that such guaranties (a) are limited to the matters described in clause (i) of the definition of Non-Recourse Indebtedness and (b) were permitted to be entered into by the REIT Entity prior to the Third Amendment Effective Date under this Agreement.
(ii)Clause (l) of Section 8 of the Credit Agreement is hereby amended by inserting the phrase “the Existing Limited Guarantees and” immediately prior to the phrase “Guarantee Obligations in respect of Additional Convertible Notes” in clause (ii)(z) thereof.
(iii) Clause (a) of Section 10.6 of the Credit Agreement is hereby amended by inserting the phrase “except, for the avoidance of doubt, as contemplated by the last paragraph of Section 10.1” immediately after the phrase “(and any attempted assignment or transfer by the Borrower without such consent shall be null and void)”.
SECTION 3.Conditions to Effectiveness.  This Amendment shall become effective on the date on which the following conditions precedent have been satisfied or waived (the date on which such condition shall have been so satisfied or waived, the “Third Amendment Effective Date”): 

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(a)the Administrative Agent shall have received a counterpart of this Amendment, executed and delivered by a duly authorized officer of the Borrower and the Required Lenders, and
(b)the Administrative Agent shall have received all fees required to be paid, and all expenses for which invoices have been presented (including the reasonable and documented out-of-pocket fees and expenses of legal counsel), on or before the Third Amendment Effective Date.
SECTION 4.Representations and Warranties.  On and as of the date hereof, the Borrower hereby confirms, reaffirms and restates that, after giving effect to this Amendment (i) each of the representations and warranties set forth in Section 4 of the Credit Agreement are true and correct in all material respects on and as of the date hereof as if made on and as of such date (except that any representations and warranties which expressly relate to an earlier date shall be true and correct in all material respects as of such earlier date) and (ii) no Default or Event of Default shall have occurred or be continuing on the date hereof.
SECTION 5.Continuing Effect; No Other Amendments or Consents.   
(a)  Except as expressly provided herein, all of the terms and provisions of the Credit Agreement are and shall remain in full force and effect.  The amendments provided for herein are limited to the specific subsections of the Credit Agreement specified herein and shall not constitute a consent, waiver or amendment of, or an indication of the Administrative Agent’s or the Lenders’ willingness to consent to any action requiring consent under any other provisions of the Credit Agreement or the same subsection for any other date or time period. Upon the effectiveness of the amendments set forth herein, on and after the Third Amendment Effective Date, each reference in the Credit Agreement to “this Agreement,” “the Agreement,” “hereunder,” “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “Credit Agreement,” “thereunder,” “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as amended hereby.

(b) The Borrower and the other parties hereto acknowledge and agree that this Amendment shall constitute a Loan Document.

SECTION 6.Expenses.  The Borrower agrees to pay and reimburse the Administrative Agent for all its reasonable and documented out-of-pocket costs and expenses incurred in connection with the preparation and delivery of this Amendment, and any other documents prepared in connection herewith and the transactions contemplated hereby, including, without limitation, the reasonable and documented out-of-pocket fees and disbursements of one counsel to the Administrative Agent in accordance with the terms in the Credit Agreement.
SECTION 7.Counterparts.  This Amendment may be executed in any number of counterparts by the parties hereto (including by facsimile and electronic (e.g. “.pdf”, or “.tif”) transmission), each of which counterparts when so executed shall be an original, but all the counterparts shall together constitute one and the same instrument.
SECTION 8.GOVERNING LAW.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
[Remainder of page intentionally left blank.]

IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed and delivered by their proper and duly authorized officers as of the day and year first above written.
COLONY FINANCIAL, INC.
By:    /s/ Mark M. Hedstrom    
Name: Mark M. Hedstrom
Title:   Vice President

Signature Page to Third Amendment

        

JPMORGAN CHASE BANK, N.A., as Administrative Agent 
By:    /s/ Lauren Gubkin        
Name: Lauren Gubkin
Title:   Vice President 

Signature Page to Third Amendment

        

JPMORGAN CHASE BANK, N.A., as a Lender 

By:    /s/ Lauren Gubkin        
Name: Lauren Gubkin
Title:   Vice President

Signature Page to Third Amendment

        

Bank of America, N.A., as a Lender 

By:    /s/ Dennis Kwan        
Name: Dennis Kwan
Title:   Vice President

Signature Page to Third Amendment

        

Barclays Bank PLC, as a Lender 

By:    /s/ Alicia Borys        
Name: Alicia Borys
Title:   Vice President

Signature Page to Third Amendment

        

MORGAN STANLEY SENIOR FUNDING, INC., as a Lender 

By:    /s/ Harry Comninellis        
Name: Harry Comninellis
Title:   Vice President

Signature Page to Third Amendment

        

Deutsche Bank AG New York Branch, as a Lender 

By:    /s/ Joanna Soliman            
Name: Joanna Soliman
Title:   Vice President

By:    /s/ Alexander E.V. Johnson        
Name: Alexander E.V. Johnson
Title:   Managing Director

Signature Page to Third Amendment

        

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender 

By:    /s/ Bill O’Daly            
Name: Bill O’Daly
Title:   Authorized Signatory

By:    /s/ Sean MacGregor            
Name: Sean MacGregor
Title:   Authorized Signatory

Signature Page to Third AmendmentExhibit 10.1

 

AMENDMENT ONE TO SECURITIES PURCHASE AGREEMENT

This Amendment One to Securities Purchase Agreement (this “Amendment”) is made as of March 16, 2015 (the “Effective Date”), by and between Cytori Therapeutics, Inc., a Delaware corporation (the “Company”), and the undersigned investors (the “Investors”).

WHEREAS, the Company previous entered into that certain Securities Purchase Agreement (the “Agreement”), dated October 8, 2014, by and between the Company and the each purchaser identified on the signature pages thereto (the “Purchasers”).

WHEREAS, Section 5.5 of the Agreement provides that no provision of the Agreement may be waived, modified, supplemented or amended except in a written instrument signed, in the case of an amendment, by the Company and the Purchasers who purchased at least 67% in interest of the Securities (as defined in the Agreement) based on the initial Subscription Amounts (as defined in the Agreement).

WHEREAS, the Investors represent at least 67% in interest of the Securities based on the initial Subscription Amounts.

WHEREAS, the Company and the Investors desire to amend the Agreement pursuant to the terms set forth herein.

NOW, THEREFORE, in consideration of the mutual promises and covenants set forth herein, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company and the Investors agree as follows:

 

AMENDMENTS:

		A.	Section 4.13(a) of the Agreement  is hereby amended and restated in its entirety to read as follows:

 

“4.13   Subsequent Equity Sales.

 (a)      From the date hereof until seventy five (75) days after the Stockholder Approval Date, neither the Company nor any Subsidiary shall issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or Common Stock Equivalents, provided however, the Company may sell shares of Common Stock via use of its “At The Market” offering facility with Cowen & Company LLC prior to seventy five days after the Stockholder Approval Date.”

GENERAL TERMS:

 

	1	This Amendment shall enter into force as of the Effective Date.

 

	2	All capitalized terms used but not defined herein shall have the meaning set forth in the Agreement.

 

	3	Except as otherwise expressly provided herein, the Agreement shall otherwise remain in full force and effect.

 

	4	This Amendment, together with the Agreement (to the extent not amended hereby) and all exhibits thereto and references therein, constitute the entire agreement  among  the parties and shall supersede any and all previous  contracts, arrangements or understandings between the parties with respect to the subject matter herein.

 

	5	Each party to this Amendment hereby agrees to perform any further acts and to execute and deliver any further documents that may be necessary or required to carry out the intent and provisions of this Amendment and the transactions contemplated hereby.

 

	6	This Amendment may not be altered, amended or modified in any way unless done so in accordance with Section 5.5 of the Agreement.

 

	7	This Amendment may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument, and such counterparts may be delivered electronically by the parties.

[signature pages follow]

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment One to Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the Amendment Effective Date.

	
CYTORI THERAPEUTICS, INC.

	
	 	
	 By 	/s/ Tiago Girao	
		 Name: Tiago Girao	
		 Title: CFO	

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK

 

SIGNATURE PAGE FOR PURCHASER FOLLOWS]

 

[PURCHASER SIGNATURE PAGES TO AMENDMENT ONE TO SECURITIES PURCHASE AGREEMENT]

IN WITNESS WHEREOF, the undersigned have caused this Amendment One to Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the Amendment Effective Date.

 

	
Name of Purchaser:

	
 

 

	
Signature of Authorized Signatory of Purchaser:

	
 

	
Name of Authorized Signatory:

	
 

 

	
Title of Authorized Signatory:

	
 

 

	
Email Address of Authorized Signatory:

	
 

 

	
Facsimile Number of Authorized Signatory:

	
 

 

	
Initial Subscription Shares of Preferred Stock:

	
 

	
 

 

	
Percent of Initial Subscription Shares of Preferred Stock:

	
 

	
%

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