Document:

Exhibit 10.1

 Exhibit 10.1 

LOAN AGREEMENT 
 This LOAN
AGREEMENT (this “Loan Agreement”) is effective as of January 25, 2017, by and between the U.S. SMALL BUSINESS ADMINISTRATION (“SBA”), an agency of the United States, and its successors and assigns, and
Freshstart Venture Capital Corporation (the “Licensee”), a Small Business Investment Company (“SBIC”), licensed under the Small Business Investment Act of 1958, as amended, (the “Act”) whose principal
office is located at 437 Madison Avenue, New York, NY 10022. 
 WHEREAS, as of January 19, 2017, Licensee was indebted to SBA
through certain debentures in the principal amount of $33,485,000 plus accrued interest of $417,490.49 with a combined per diem of $2,982.08, which after March 1, 2017 the per diem amount for which will be $3,013.95 (the
“Debentures”); 
 WHEREAS, because of the happening of one or more events enumerated under Title 13 of the Code of
Federal Regulations (“Regulations”), Part 107, Section 1810, SBA has exercised its right under the Regulations to accelerate the payment of the Debentures, and Licensee acknowledges said right of acceleration and the aforesaid amount
of the Debentures; 
 WHEREAS, Licensee has agreed to liquidate its portfolio assets in an orderly and prudent manner in order to pay
its Debentures to SBA and has requested that SBA restructure its Debentures in accordance with SBA’s authority under the Regulations; the Licensee’s current forecast for such liquidation is set forth in Exhibit A, and with its
portfolio asset valuations for the liquidation set forth in Exhibit B; 

  
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 WHEREAS, Medallion Financial Corporation has agreed to provide the Committed Purchase and
Security Agreement as part of this Loan Agreement under the terms of Exhibit C; 
 WHEREAS, the Licensee has provided to SBA a
certification of its debts and liabilities owed to anyone other than SBA in Exhibit D; 
 WHEREAS, Licensee has calculated its
Capital Impairment Percentage (“CIP”) in accordance with the Regulations and its CIP as of December 31, 2016 was the amount shown on Exhibit E; 

WHEREAS, SBA has agreed to restructure the Debentures pursuant to the terms and conditions hereinafter set forth; and 

WHEREAS, SBA is in no way waiving or releasing any of its statutory or regulatory rights or regulatory authority under the Regulations
through this agreement; 
 NOW, THEREFORE, in consideration of the mutual covenants hereinafter contained, Licensee and SBA hereby
represent and agree as follows: 
 1. Definitions. For the purposes of this Loan Agreement, the following terms shall have the
following meanings: 
 (a) “Assets” shall mean all of Licensee’s presently owned or hereafter acquired or created personal
property (tangible or intangible) of whatever nature and wherever located including but not limited to all fixed assets, fixtures, inventory, notes receivable, accounts receivable, contract rights, choses in action, causes of action, instruments,
documents, electronic business records, licenses, warranties, rights to indemnification, leasehold and sub-leasehold interests in personal property, security 

  
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interests held by or granted to Licensee, tax refunds, tax refund claims, partnership, limited liability company, and joint venture interests, goodwill, general intangibles, common stock,
preferred stock, stock options, warrants, debentures, promissory notes, letter of credit rights, supporting obligations, chattel paper and all rights to the payment of money now owned or hereafter acquired or created together with all additions and
accessions thereto, all replacements and substitutions thereof, and all proceeds and products thereof, but excluding Licensee’s name and trademark. 

(b) “Associate” shall mean any director or officer of Licensee, their spouses or relatives within the third degree, and any other
Person in which such relative has a substantial direct or indirect interest as set forth in Section 107.50 et seq. of the Regulations. 

(c) “Disposition” shall mean the sale, mortgage, pledge, subordination, redemption, assignment or any other transfer of any Asset or
right to an Asset, other than the payoff of loans listed on Exhibit B, by the small business or by a third party lender through action initiated by the small business. 

(d) “Indebtedness” shall mean all principal and interest outstanding on the Note as defined in Paragraph 3 below, as well as any
principal and interest on any other monies loaned by SBA to the Licensee for any reason. 
 (e) “Loan Documents” shall mean the
Loan Agreement, all exhibits identified in this Loan Agreement, and the Note, all of even date herewith, and all between Licensee and SBA, and any and all ancillary documents executed in connection therewith, as of the date of this Loan Agreement,
and also including a Stipulation and Receivership Order executed by the Licensee. 

  
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 (f) “Management Expenses” shall mean the following expenses set forth in
Section 107.520 of the Regulations required to be paid by Licensee’s Investment Adviser/Manager: 
  

	 	(i)	Salaries; 

  

	 	(ii)	Office Expenses; 

  

	 	(iii)	Travel; 

  

	 	(iv)	Business development; 

  

	 	(v)	Office and equipment rental; 

  

	 	(vi)	Bookkeeping; and 

  

	 	(vii)	Expenses related to developing, investigating, and monitoring of investments. 

  

	 	(g)	“Operating Expenses” shall mean the expenses of Licensee (other than Management Expenses) for audit and legal costs. 

  

	 	(h)	“Certificate of Incorporation” shall mean the Licensee’s certificate of incorporation dated March 3, 1982, as was previously amended and may be further amended from time to time. 

 

	 	(i)	“Person” shall mean an individual, a corporation, a limited liability company, a partnership, a joint venture, an association, a joint stock company, a trust, an unincorporated organization or a government or
any agency or political subdivision thereof. 

  

	 	(j)	“Reserve” shall mean those funds now held or hereafter reserved by Licensee to cover (i) Management and Operating Expenses, (ii) follow-on investments made to protect the existing Assets and
undertaken only with SBA’s prior written approval, and (iii) other estimated contingencies approved in writing by SBA. 

  
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 2. Restructuring of Debentures. The parties have agreed to restructure the Debentures by
the exchange by SBA of Licensee’s Debentures to SBA under the SBA-guaranteed debentures in consideration of the execution and delivery of the Loan Documents. 

3. Note. The Indebtedness shall be evidenced by a Note with an effective date of March 1, 2017 (the “Note”), duly
executed by Licensee, payable to the order of SBA in the principal amount of $34,024,755.58, with an annual interest rate of 3.25 % (interest to begin accruing on March 1, 2017), and having a stated maturity of February 1, 2020. The
Licensee shall make the following minimum cumulative payments of principal and interest on or before the identified deadlines: 

February 1, 2018: $5,500,000 (five million five hundred thousand dollars); 

February 1, 2019: $9,500,000 (nine million five hundred thousand dollars); and 

February 1, 2020: all remaining unpaid principal and interest. 

The possibility of a renewal of the Note, for another period to be determined by SBA, will be in the sole discretion of SBA. One non-exclusive factor that SBA
will take into account would be SBA’s own determination of the Licensee’s compliance with this Loan Agreement. The Note shall bear and Licensee agrees to pay interest on the unpaid balance of the Note at the rate of 3.25_% per annum,
pursuant to the Note. Interest on the Note will be calculated as simple interest based on a 365 day year. Licensee will pay the principal and interest on the Note from the interest income, disposition of assets or any other available source (saving
and excepting the Reserve) and all such payments will be applied against the outstanding balance due on the Note, interest first, then principal. 

  
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 4. Disposition of Assets. Licensee will use commercially reasonable efforts, in a prudent
manner, to collect and liquidate the Assets within the time frame set forth in Exhibit A. In any event, Licensee agrees that it must pay the outstanding Indebtedness owed to SBA no later than February 1, 2020. Any Disposition of Assets must be
affected in accordance with this Loan Agreement and SBA’s Regulations. In addition, all other Assets resulting from any of the Licensee’s Financings (as that term is defined in Section 107.50 of the Regulations and hereinafter
referred to as “Financing(s)”) shall be liquidated or otherwise result in a Disposition only with SBA’s prior written approval. Licensee shall notify SBA, by e-mail, with confirmation to follow by overnight mail, to request SBA’s
approval of the intended Disposition of Financings by Licensee. If SBA approves the liquidation or Disposition of the Financing, it shall give prior written notice to the Licensee. No Disposition of Assets shall be made without SBA’s prior
written approval. Licensee shall make no Financings, whether as new Financings or as Financings as part of a Disposition of Assets, without SBA’s prior written approval. 

5. Management and Operating Expenses. SBA reserves the right in its sole discretion to review and modify the Management and Operating
Expenses as it deems appropriate. Any request for modification must be approved by SBA in writing prior to payment. As of the date of this Loan Agreement, Licensee may pay the following Expenses as they become due: 

(a) Operating Expenses not in excess of $150,000 per annum, starting in calendar year 2017. 

(b) Management Expenses in an amount not exceeding $75,000 per month effective February 1, 2017. 

  
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 The Licensee may elect to defer the payment of management fees. If Licensee elects to defer the
payment of management fees, Licensee hereby agrees that any such deferred management fees which accrue after the date Licensee was transferred to the Office of Liquidation will be subordinated to all amounts payable to SBA. 

6. Reserve. In addition to the payment of Management and Operating Expenses as provided in paragraph 5 above, Licensee may establish
the Reserve, in accordance with this Paragraph. Licensee may retain from the proceeds of the Disposition of the Assets, the collection of interest due from small business concerns, or from any other source, an amount sufficient to fund the Reserve.
The maximum amount of the Reserve will be established quarterly with SBA’s prior written approval but shall be at least an amount equal to the maximum Management and Operating Expenses permitted for the following quarter pursuant to paragraph 5
(or such other amount approved in writing by SBA). As of the date of the Loan Agreement, SBA has approved the establishment of an initial Reserve in the amount of 18 months of management and operating expenses, initially equal to $1,575,000 plus any
approved SBA follow-on investment(s). Any increase or decrease to this Reserve of 18 months of management and operating expenses, initially equal to $1,575,000, must be approved by SBA in writing. Licensee may use the reserve to pay Management
Expenses and Operating Expenses whenever the same become due, and upon any such use the Licensee may replenish the Reserve for the maximum Management and Operating Expenses of the next following quarter. Licensee shall pay to SBA any funds that
exceed the amount of funds necessary to maintain the amount of the Reserve. Commencing on March 1, 2017, any funds or amounts held or obtained by Licensee from liquidation, Disposition of any Assets or from any other source that exceed the
amount of the Reserve shall be paid on the 10th day of each calendar month to SBA to be applied toward Licensee’s obligations under the Note (applied to interest first, then principal),
unless SBA agrees otherwise in writing. 

  
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 7. Representations and Warranties. In order to induce SBA to enter in this Loan Agreement
and to restructure the Indebtedness as provided for herein, Licensee represents and warrants to SBA that: 
  

	 	(a)	It is a corporation duly organized and validly existing in good standing under the laws of the state of New York and is legally authorized to own its properties and all assets and to conduct its business, and is duly
qualified to transact business; and 

  

	 	(b)	The Loan Documents have been duly executed and delivered, have been duly authorized by the Licensee in accordance with its Certificate of Incorporation and bylaws, and are enforceable against Licensee in accordance with
their respective terms and do not violate the terms of the Certificate of Incorporation; 

  

	 	(c)	All of the Loan Documents that are being delivered to SBA in connection herewith comply with 13 C.F.R. § 107.507(b); 

  

	 	(d)	There are no other debts or liabilities owed by Licensee to anyone other than SBA that are not identified on Exhibit D, and none of the liabilities identified on Exhibit D are owed to any Associate of Licensee
(as the term Associate is defined in 13 C.F.R. § 107.50); 

  

	 	(e)	There are no unresolved claims against the Licensee made by anyone other than SBA; 

  

	 	(f)	The Licensee has no claims of any kind against SBA; 

  

	 	(g)	Medallion Financial Corporation represents and warrants to SBA and to the Licensee that it has full authority to execute, deliver and fulfill its obligations under this Loan Agreement and under the limited guarantee and
security obligations contained in Exhibit C; and 

  
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	 	(h)	Medallion Financial Corporation represents and warrants to SBA that (a) there are no other debts or liabilities owed by Licensee to anyone other than SBA that are not identified on Exhibit D; (b) there
are no unresolved claims against the Licensee made by anyone other than SBA; (c) Medallion Financial Corporation has no claims of any kind against SBA; (d) it has no knowledge of any claims of any kind against SBA by any entity under its
direction or control. 

  

	 	(i)	Medallion Financial Corporation represents and warrants to SBA that to the best of its knowledge the Licensee’s representations and warranties to SBA are true and correct; 

 

	 	(j)	There have been no material changes to Licensee’s financial condition since its submission of its SBA Form 468 for the period ending September 30, 2016 other than the exceptions identified on Exhibit F.

 8. Affirmative Covenants. So long as Licensee is indebted to SBA under this Loan Agreement, and until all
obligations of Licensee to SBA hereunder and under the other Loan Documents have been performed or discharged Licensee shall: 
  

	 	(a)	Cease all lending and investing activities, as of the date of closing of the Loan Documents, other than follow-on investments made to protect the existing Assets undertaken only with SBA’s prior written approval;

  
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	 	(b)	Deliver to SBA: 

  

	 	(i)	Within ninety (90) days after the last day of Licensee’s fiscal year, audited financial statements of Licensee for such fiscal year in the form of an audited Form 468. The financial statements shall include,
but not be limited to, a balance sheet of Licensee for the fiscal year then ended, statement of operations realized, reconciliation of undistributed realized earnings for such fiscal year. The opinion of the independent certified public accountant
shall comply with applicable auditing and accounting standards and with Section 107.630 of the Regulations. 

  

	 	(ii)	Within fifteen (15) days after the end of each month, interim cash flow statements of Licensee, certified by Licensee’s General Partner. 

 

	 	(iii)	Within thirty (30) days after the end of each quarter, unaudited Form 468 of Licensee, prepared in accordance with SBA regulations for funds with outstanding Leverage. 

 

	 	(iv)	Promptly upon receipt thereof, deliver to the SBA copies of the management report and all other reports submitted to Licensee by its independent certified public accountant in connection with any annual or interim audit
or review of the books of Licensee conducted by such accountants. 

  

	 	(v)	Promptly, upon request by SBA, deliver such additional information as SBA may reasonably request from time to time. 

  

	 	(c)	Advise SBA in writing pursuant to the paragraph 13 below every thirty (30) days of the status of any litigation or other legal proceedings, other than routine collection actions in which Licensee is a party, and
within thirty (30) days of the commencement of any litigation as a plaintiff or defendant; 

  
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	 	(d)	Do or cause to be done all things necessary to preserve and keep in full force and effect its legal existence as a partnership and all franchises, rights and privileges necessary for the proper conduct of its business;

  

	 	(e)	Notify SBA promptly upon knowledge of an Event of Default under this Agreement or an event which would constitute an Event of Default but for the lapse of time or giving of notice; 

 

	 	(f)	Execute and deliver such further or additional instruments and assurances, and take all such additional action, as SBA may reasonably require for the purpose of carrying out the provisions of this Loan Agreement and the
other Loan Documents; 

  

	 	(g)	Comply with all provisions of the Act and the Regulations, and any other applicable law or regulation; and 

  

	 	(h)	Keep the Assets free and clear of all liens and encumbrances other than any created by the Loan Documents. 

  

	 	(i)	Cooperate in the filing and entry of the Stipulation and Receivership Order in accordance with the dates and terms contained in those documents in the event SBA ultimately determines to take such action.

  

	 	(j)	 Medallion Financial Corporation affirmatively covenants to SBA and to the Licensee that it will take all actions
reasonably necessary to honor its obligations under this Loan Agreement and as identified in Exhibit C. Medallion Financial Corporation further covenants that it will take such action as reasonably required to ensure that the Licensee fulfills the
Licensee’s obligations under this Loan Agreement. In the event Medallion Financial Corporation receives a notice of a 

  
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declaration of an event of default of any of its own obligations in excess of $1 million to anyone other than SBA, then Medallion Financial Corporation shall notify SBA of the receipt of such
notice as soon as practicable and in no event later than within 10 (ten) days. 

  

	 	(k)	Licensee and Medallion Financial Corporation covenant and agree that no modification or waiver of Exhibit C will be valid or effective without SBA’s prior written approval. 

9. Negative Covenants. So long as Licensee is indebted to SBA, Licensee shall not, without the prior written approval of SBA: 

 

	 	(a)	Pay Management and Operating Expenses in an amount exceeding the limits set forth in paragraph 5 hereto; 

  

	 	(b)	Incur indebtedness for borrowed money, or liquidate or cause the Disposition of any of its Assets except as permitted by this Loan Agreement; 

 

	 	(c)	Change any of its principals, Control Persons, managers, or investment advisors except in accordance with the Regulations; 

  

	 	(d)	Act as a guarantor or surety, or otherwise become liable on the obligation of any other Person; 

  

	 	(e)	Purchase, redeem, retire or otherwise acquire directly or indirectly any person’s equity interest in Licensee now or hereafter outstanding, or set apart any sum for such purpose; 

 

	 	(f)	Make any distribution of any kind of any undistributed realized earnings, reduce private capital, or set apart any sum for such purpose; 

  
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	 	(g)	Make any payment on any indebtedness that is by its terms subordinate to the Indebtedness owed pursuant to this Loan Agreement, other than with respect to payments due in connection with Loan Participations set forth on
Exhibit G; 

  

	 	(h)	Except for Dispositions that are permitted under this Loan Agreement, dissolve, reorganize, liquidate or acquire the assets or capital stock of any Person or merge itself into any Person, provided, however, that SBA
will not object to any organizational changes that may result from Medallion Financial Corporation’s de-election of its status as a business development company, provided that SBA reserves the right to object to any change that would violate
the Act or the Regulations; 

  

	 	(i)	Enter into any agreement as lessee under the terms of which Licensee agrees to the leasing of real or personal property; 

  

	 	(j)	Except for Dispositions that are permitted under this Loan Agreement, permit any material change in the business or operations of Licensee or change its current accounting practices except for changes permitted by the
Regulations and appropriate accounting standards; 

  

	 	(k)	Make any new or follow on investments without SBA’s prior written consent; or 

  

	 	(l)	Contest the SBA’s filing or the entry of the Stipulation or Receivership Order on or after the dates identified in those documents. 

10. Events of Default. If any one or more of the events listed below (each, an “Event of Default”) shall occur and
shall remain uncured for a period of fifteen (15) days after the date of the letter from SBA to Licensee setting forth in reasonable detail a description of the Event of Default, the entire unpaid balance of the principal and interest of the
Note and all other 

  
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obligations and indebtedness of Licensee to SBA shall become immediately due and payable (except that in the case of subparagraphs, (b), (d), (j), (l), and (k) below, the fifteen
(15) day cure period shall not apply) without the necessity of any demand, presentment, protest or notice upon Licensee, all of which are expressly waived by Licensee. 

 

	 	(a)	Failure by Licensee to make any payment of interest or principal as and when due and payable pursuant to the terms of the Note and this Loan Agreement; 

 

	 	(b)	Any violation of 13 C.F.R. § 107.507(b) that occurs; 

  

	 	(c)	Any violation by Licensee of 13 C.F.R. §§ 107.1810(b), 1810(d), 1810(f)(5) and/or 1830 that occurs; 

  

	 	(d)	Any other violation of the Act or the Regulations, other than the Licensee’s regulatory violations identified in SBA’s notice of acceleration letter to Licensee dated January 19, 2017; 

 

	 	(e)	Failure by Licensee to comply with any of the affirmative or negative covenants contained in this Loan Agreement reasonably deemed material by SBA in its discretion; 

 

	 	(f)	Failure by Licensee to perform any other material term, condition or covenant of the Loan Documents; 

  

	 	(g)	 A Material Adverse Change in the financial condition of Licensee’s operations during any time following the
first quarter after the closing date of this Agreement, including but not limited to, any material reduction in the value of the Assets or any act of the Licensee which in the reasonable opinion of SBA imperils the prospect of full performance or
satisfaction of Licensee’s obligations herein. For purposes of this subsection, a Material Adverse Change shall mean a 

  
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reduction in the aggregate value of the Assets that have not been disposed of in accordance herewith to a value, as determined by SBA, that is less than 85 percent of the value as reflected in
Exhibit B (in the column “SBA Value (12/31/16)”) or is less than 100 percent of the outstanding Indebtedness at any given time, Exhibit B attached hereto and incorporated by reference as though fully set forth herein. On the
date hereof, the parties hereto estimate such value to be as set forth on Exhibit B attached hereto; 

  

	 	(h)	Licensee’s failure to make payments to SBA as required by the Note; 

  

	 	(i)	Participation by Licensee in insolvency or reorganization procedures in respect of Licensee; 

  

	 	(j)	The rendering of any judgment or aggregate of judgments against Licensee or the occurrence of any attachment or aggregate of attachments of any of its property involving in excess of the aggregate amount of $100,000
that is not cured within 30 days; 

  

	 	(k)	Dissolution or the cessation of doing business of Licensee; 

  

	 	(l)	Indictment or conviction of any of the directors, officers, or other employees of the Licensee, or Manager, for any unlawful act other than minor traffic and similar offenses; provided, however, that no Event of
Default shall exist if, promptly upon learning of such indictment or conviction, Licensee shall notify SBA in writing and, if requested by SBA in writing, dismiss such person or otherwise remove them from all authority over Licensee and its assets
and nominate a successor acceptable to SBA in its sole discretion; 

  

	 	(m)	Failure by Licensee to make any payment to SBA required by Paragraph 6; 

  
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	 	(n)	Medallion Financial Corporation receives a declaration of an event of default on any obligation or obligations in the aggregate amount of $5 million or more that it owes to anyone else and fails to cure such default
within 15 days; or 

  

	 	(o)	Medallion Financial Corporation defaults on any of its obligations under Exhibit C. 

 11.
Remedies for Events of Default and Waiver. In the event of any Event of Default by Licensee or by Medallion Financial Corporation , and at any time thereafter, SBA may, at its election, choose to pursue any one or more of the following
remedies: 
  

	 	(a)	Require Licensee to prepare and submit to SBA a final accounting of the liquidation or Disposition of the Assets; 

  

	 	(b)	File and enforce the Stipulation and Receivership Order and obtain a judgment against Licensee for any unpaid amounts owed to SBA under the Note; 

 

	 	(c)	Exercise any other rights and remedies available to SBA under the other Loan Documents or pursuant to the Act or Regulations, at law or in equity; or 

 

	 	(d)	Accelerate the Note and make all amounts immediately due and payable in full to SBA. 

  

	 	(e)	Licensee further agrees that in the event it fails to pay make any payment required under the Note that it will be deemed to be equitably or legally insolvent under 13 C.F.R. § 107.1810(b)(1). 

12. Payment of the Note in Full. Contemporaneously with the payment of the Note in full, SBA shall deliver to Licensee without charge,
all amendments, terminations or releases of the Loan Documents. In the event the Licensee pays the Note in full and satisfies its obligations to SBA, unless SBA otherwise agrees in writing, Licensee shall offer for surrender its SBIC

  
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operating license and present to SBA evidence of a resolution authorizing the amendment of its Articles of Incorporation, to eliminate all reference to SBA and the SBIC program and provide SBA
with an affirmation (subject to the approval of SBA) signed by an appropriate Control Person of the Licensee, to the effect that Licensee will no longer hold itself out as an SBIC. 

13. Miscellaneous. 
  

	 	a.	All notices, requests and other communications pursuant to this Loan Agreement and the Loan Documents must be in writing and transmitted by one of the following; (i) hand delivery; (ii) facsimile or e-mail
with the original thereof being sent within a reasonable time thereafter by regular mail; (iii) certified mail return receipt requested; or (iv) overnight courier service. A notice is deemed to have been received (x) if by hand
delivery, telegram, overnight courier service, or certified mail, as of the day of delivery of the notice to the addressee; (y) if by facsimile as of the first business day following receipt of notice of transmission by recipient; or
(z) if by electronic means, as of the first business day following the day on which the electronic notice is received by the addressee; 

  

	 	b.	All notices as described above shall be addressed as follows: 

  

	 	i.	If to SBA: 

 Account Resolution Branch 

Office of Liquidation 
 Attn:
Jacob Lewis 
 409 Third Street S.W., 6th Floor 

Washington, DC 20416 
 Voice
(202)205-6503 
 Fax (202)481-2003 

jacob.lewis@sba.gov 

  
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	 	ii.	If to Licensee: 

 Freshstart Venture Capital Corporation 

Attn.: Mr. Alvin Murstein 

437 Madison Avenue 
 New York,
NY 10022 
  

	 	iii.	If to Medallion Financial Corp.: 

 Medallion Financial Corp. 

Attn.: Mr. Alvin Murstein 

437 Madison Avenue 
 New York,
NY 10022 
  

	 	iv.	Copies to: 

 Office of General Counsel 

Attn.: Thomas W. Rigby, Esq. 

U.S. Small Business Administration 

409 Third Street, S.W., 7th Floor 

Washington, DC 20416 

thomas.rigby@sba.gov 
 Or such
other address as the receiving party shall have designated in a written notice to the other sent in accordance with this section. For the purpose of the Loan Documents, the address of Licensee may be changed only upon prior written approval of SBA.
Such approval shall not be unreasonably denied and may be conditioned upon the completion of one of more filings or other acts related to such change of address as SBA reasonably deems appropriate; 

 

	 	c.	No failure or delay on the part of SBA in the exercise of any right, power or privilege hereunder or under any other Loan Document shall operate as a waiver of any such right, power or privilege, nor shall any such
failure or delay preclude any other or further exercise thereof; 

  

	 	d.	No modification or waiver of any provision of the Loan Documents shall be effective unless in writing, and signed by the parties hereto; 

  
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	 	e.	The rights and obligations of Licensee under this Loan Agreement shall not be assignable without the prior written consent of SBA; 

  

	 	f.	LICENSEE AND MEDALLION FINANCIAL CORPORATION HEREBY WAIVE TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO, IN CONNECTION WITH, OR ARISING OUT OF THE LOAN DOCUMENTS, and Licensee and Medallion Financial
Corporation hereby waive the right to interpose any set-off, counterclaim or cross-claim in connection with any such litigation by SBA unless such set-off, counterclaim, cross-claim arises out of the Loan Documents; 

 

	 	g.	If any provision of the Loan Documents is declared invalid, such action shall not invalidate any other provision of those instruments, which shall remain in full force and effect; 

 

	 	h.	Licensee and Medallion Financial Corporation further agree that, pursuant to Section 101.106(b) of Part 13 of the Code of Federal Regulations, the Loan Documents are to be construed and enforced in accordance with
the Act, the Regulations and other Federal law, and in the absence of applicable Federal law, then by applicable New York law to the extent it does not conflict with the Act, the Regulations or other Federal law; 

 

	 	i.	All covenants, agreements, representations and warranties made in the Loan Documents shall survive the restructuring by SBA of the Debentures and Indebtedness and the execution and delivery to SBA of the Loan Documents
and shall continue in full force and effect so long as Licensee remains indebted to SBA for any obligation incurred; 

  
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	 	j.	THIS AGREEMENT AND OTHER LOAN DOCUMENTS TO WHICH LICENSEE IS A PARTY OR IS SUBJECT EMBODY THE ENTIRE AGREEMENT AND UNDERSTANDING BETWEEN THE PARTIES AND SUPERSEDE ALL OTHER AGREEMENTS AND UNDERSTANDINGS BETWEEN SUCH
PARTIES RELATING TO THE DEBENTURES AND THE NOTE, BUT WITHOUT AFFECTING IN ANY WAY THE LICENSEE’S OTHER CONTINUING OBLIGATIONS OWED TO SBA UNDER THE ACT AND REGULATIONS AS AN SBIC. THIS AGREEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN THE
PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL STATEMENTS OR ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS OF ANY KIND BETWEEN THE PARTIES. 

 

	 	k.	Each of the persons and parties signing below acknowledge and agree that that he/she/it has read and understands the Agreement in its entirety; has consulted with an attorney; and has not been induced by any
representation or promise not contained within the Loan Documents as executed. 

  

	 	l.	All of the language in this Agreement and in the Loan Documents is mutually agreed upon and the parties to it bear mutual responsibility for all of the language and any potential ambiguity. 

  
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 IN WITNESS WHEREOF, the parties have caused this Loan Agreement to be duly executed effective on the date and
year first above written. 
 Agreed by Licensee, Freshstart Venture Capital Corporation 

 

			
	By:	 	/s/ Alvin Murstein
	Name:	 	Alvin Murstein
	Title:	 	Chairman & Chief Executive Officer

  

			
	Witness:	 	/s/ Melissa Z. Mohabir
	Name:	 	Melissa Z. Mohabir

  

			
	Agreed by Medallion Financial Corporation
		
	By:	 	/s/ Andrew M. Murstein
	Name:	 	Andrew M. Murstein
	Title:	 	President

			
		
	Witness:	 	/s/ Melissa Z. Mohabir
	Name:	 	Melissa Z. Mohabir

 Reviewed and approved as to form by Licensee’s counsel: 

			
		
	By:	 	/s/ R. Michael Haynes
	Name:	 	R. Michael Haynes
	Title:	 	Principal
	Firm:	 	Semmes, Bowen & Semmes

 Agreed by U.S. SMALL BUSINESS ADMINISTRATION 

			
		
	By:	 	/s/ Thomas G. Morris
	Name:	 	Thomas G. Morris
	Title:	 	Director, Office of Liquidation, SBA

			
		
	Witness:	 	/s/ Jacob Lewis
	Name:	 	Jacob Lewis

  
 21Exhibit 4.1

 

AMENDED AND RESTATED CERTIFICATE OF INCORPORATION
 OF
 BIOVERATIV INC.

 

Pursuant to the General Corporation Law 
 of the State of Delaware

 

Bioverativ Inc. (the “Corporation”), a corporation organized and existing under the General Corporation Law of the State of Delaware (the “DGCL”), does hereby certify as follows:

 

FIRST: The original Certificate of Incorporation of Bioverativ Inc. was filed with the Secretary of State of Delaware on August 4, 2016.

 

SECOND: This Amended and Restated Certificate of Incorporation has been duly adopted in accordance with the provisions of Sections 242 and 245 of the DGCL and has been duly approved by the written consent of the stockholders of the Corporation in accordance with Section 228 of the DGCL, and amends and restates the provisions of the Corporation’s Certificate of Incorporation.

 

THIRD: The text of the Corporation’s Certificate of Incorporation so adopted is hereby amended and restated in its entirety to read as follows:

 

ARTICLE I

 

The name of this Corporation is Bioverativ Inc.

 

ARTICLE II

 

The address of the registered office of the Corporation in the State of Delaware is 2711 Centerville Road, Suite 400, Wilmington, New Castle County, 19808.  The name of its registered agent at that address is Corporation Service Company.

 

ARTICLE III

 

The nature of the business or purposes to be conducted or promoted is to engage in any lawful act or activity for which corporations may be organized under the DGCL.

 

ARTICLE IV

 

(A)                               Classes of Stock. This Corporation is authorized to issue two classes of capital stock of the Company to be designated, respectively, “Common Stock” and “Preferred Stock.” The total number of shares which the Corporation is authorized to issue is Eight Hundred Fifty Million (850,000,000) shares. Eight Hundred Million (800,000,000) shares shall be Common Stock, par value $0.001 per share, and Fifty Million (50,000,000) shares shall be Preferred Stock, par value $0.001 per share.

 

 

(B)                               Common Stock.

 

1.                                      Ranking.  The voting, dividend and liquidation rights of the holders of Common Stock are subject to and qualified by the rights of the holders of Preferred Stock of any series as may be designated by the board of directors upon any issuance of Preferred Stock of any series.

 

2.                                      Voting.  Each share of Common Stock shall entitle the holder thereof to one vote in person or by proxy for each share on all matters on which such stockholders are entitled to vote.  Except as expressly set forth in the applicable Certificate of Designations with respect to any such series of Preferred Stock or as otherwise is required by applicable law, the holders of Common Stock shall not be entitled to vote on any amendment to this Certificate of Incorporation (including any Certificate of Designations) that relates solely to the terms of one or more outstanding series of Preferred Stock if the holders of such affected series are entitled, either separately or together as a class with the holders of one or more other such series, to vote thereon.

 

3.                                      Dividend Rights.  The holders of shares of Common Stock shall be entitled to receive ratably such dividends and other distributions in cash, stock or property of the Corporation when, as and if declared thereon by the board of directors in its sole discretion from time to time out of assets or funds of the Corporation legally available therefor, subject to any preferential rights of any then outstanding Preferred Stock and any other provisions of this Certificate of Incorporation, as may be amended from time to time.

 

4.                                      Liquidation Rights. Upon the liquidation, dissolution or winding up of the Corporation, whether voluntary or involuntary, after payment or provision for payment of the debts and other liabilities of the Corporation, holders of Common Stock shall be entitled to receive all remaining assets of the Corporation available for distribution to its stockholders, ratably in proportion to the number of shares of Common Stock held by them and subject to any preferential rights of any then outstanding Preferred Stock.

 

5.                                      No Preemptive or Subscription Rights. No holder of shares of Common Stock shall be entitled to preemptive or subscription rights.

 

6.                                      No Cumulative Voting. The holders of shares of Common Stock shall not have cumulative voting rights.

 

7.                                      Recapitalization.  Upon this Certificate of Incorporation of the Corporation becoming effective at 4:30 p.m., Eastern Time, on January 31, 2017, the date of filing with the Secretary of State of the State of Delaware, pursuant to the DGCL (the “Effective Time”), the One Thousand (1,000) shares of Common Stock, par value $0.001 per share, issued and outstanding immediately prior to the Effective Time, shall be reclassified by subdividing and thereafter constitute 107,975,968 shares of Common Stock.

 

 

(C)                               Preferred Stock.

 

The board of directors is hereby expressly authorized to provide for the issuance of all or any shares of Preferred Stock in one or more classes or series, and to fix for each such class or series such voting powers, full or limited, or no voting powers, and such designations, preferences and relative, participating, optional or other special rights and such qualifications, limitations or restrictions thereof, as shall be stated and expressed in the resolution or resolutions adopted by the board of directors providing for the issuance of such class or series, including, without limitation, the authority to provide that any such class or series may be (a) subject to redemption at such time or times and at such price or prices; (b) entitled to receive dividends (which may be cumulative or non-cumulative) at such rates, on such conditions, and at such times, and payable in preference to, or in such relation to, the dividends payable on any other class or classes or any other series; (c) entitled to such rights upon the dissolution of, or upon any distribution of the assets of, the Corporation; or (d) convertible into, or exchangeable for, shares of any other class or classes of stock, or of any other series of the same or any other class or classes of stock, of the Corporation at such price or prices or at such rates of exchange and with such adjustments, all as may be stated in such resolution or resolutions.

 

ARTICLE V

 

In furtherance and not in limitation of the powers conferred by law, the board of directors is expressly authorized and empowered, without the assent or vote of the stockholders of the Corporation, to amend, supplement or repeal the bylaws of the Corporation by the requisite affirmative vote of directors as set forth in the bylaws of the Corporation; provided, however, that the stockholders may change or repeal any bylaw adopted by the board of directors by the requisite affirmative vote of stockholders as set forth in the bylaws of the Corporation; and, provided further, that no amendment or supplement to the bylaws of the Corporation adopted by the board of directors shall vary or conflict with any amendment or supplement thus adopted by the stockholders.

 

ARTICLE VI

 

The business and affairs of the Corporation shall be managed by or under the direction of the board of directors.  Subject to the rights of any series of Preferred Stock then outstanding, the number of directors of the Corporation shall be fixed exclusively by, or in the manner provided in, the bylaws of the Corporation.  In addition to the powers and authority hereinbefore or by statute expressly conferred upon them, the board of directors is hereby empowered to exercise all such powers and do all such acts and things as may be exercised or done by the Corporation, subject to the provisions of the DGCL, this Certificate of Incorporation and any bylaws of the Corporation; provided, however, that no bylaws of the Corporation hereafter adopted shall invalidate any prior act of the board of directors which would have been valid if such bylaws had not been adopted.

 

ARTICLE VII

 

Elections of directors need not be by written ballot unless the bylaws of the Corporation shall so provide. Directors shall hold office for a term ending on the date of the next

 

 

annual meeting of stockholders following their election and until their successors shall have been elected and qualified, subject to their earlier resignation, removal from office, death or incapacity.

 

ARTICLE VIII

 

The Corporation is to have perpetual existence.

 

ARTICLE IX

 

Meetings of stockholders may be held within or without the State of Delaware, as the bylaws of the Corporation may provide. The books of the Corporation may be kept (subject to any provision contained in the statutes) outside the State of Delaware at such place or places as may be designated from time to time by the board of directors or in the bylaws of the Corporation.

 

ARTICLE X

 

Any action required or permitted to be taken by the stockholders of the Corporation must be effected at a duly called annual or special meeting of stockholders of the Corporation, and the ability of the stockholders to consent in writing to the taking of any action is hereby specifically denied.

 

ARTICLE XI

 

A director of the Corporation shall not be personally liable to the Corporation or its stockholders for monetary damages for any breach of fiduciary duty as a director, except for liability as a director (i) for any breach of the director’s duty of loyalty to the Corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the DGCL or (iv) for any transaction from which the director derived an improper personal benefit. If the DGCL is amended after approval of this Article to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of a director shall be eliminated or limited to the fullest extent permitted by the DGCL, as so amended. Any repeal or modification of the foregoing provisions of this Article XI shall not adversely affect any right or protection of a director of the Corporation with respect to any acts or omissions of such director occurring prior to such repeal or modification.

 

ARTICLE XII

 

To the fullest extent permitted by applicable law, the Corporation is also authorized to provide indemnification of (and advancement of expenses to) such agents (and any other persons to which Delaware law permits the Corporation to provide indemnification) through bylaw provisions, agreements with such agents or other persons, vote of stockholders or disinterested directors or otherwise, in excess of the indemnification and advancement otherwise permitted by Section 145 of the DGCL, subject only to limits created by applicable Delaware law (statutory or non-statutory), with respect to actions for breach of duty to the Corporation, its stockholders and others. Any repeal or modification of any of the foregoing provisions of this

 

 

Article XII shall not adversely affect any right or protection of a director, officer, agent or other person existing at the time of, or increase the liability of any director of the Corporation with respect to any acts or omissions of such director, officer or agent occurring prior to such repeal or modification.

 

ARTICLE XIII

 

Unless the Corporation consents in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware shall, to the fullest extent permitted by law, be the sole and exclusive forum for: (a) any derivative action or proceeding brought on behalf of the Corporation, (b) any action asserting a claim for breach of a fiduciary duty owed by any director, officer or other employee of the Corporation to the Corporation or the Corporation’s stockholders, (c) any action asserting a claim arising pursuant to any provision of the DGCL or (d) any action asserting a claim governed by the internal affairs doctrine; provided, however, that, in the event that the Court of Chancery of the State of Delaware lacks subject matter jurisdiction over any such action or proceeding, the sole and exclusive forum for such action or proceeding shall be another state or federal court located within the State of Delaware, in each such case, unless the Court of Chancery (or such other state or federal court located within the State of Delaware, as applicable) has dismissed a prior action by the same plaintiff asserting the same claims because such court lacked personal jurisdiction over an indispensable party named as a defendant therein. Any person or entity purchasing or otherwise acquiring any interest in shares of capital stock of the Corporation shall be deemed to have notice of and consented to the provisions of this Article XIII. Failure to enforce the foregoing provisions would cause the Corporation irreparable harm and the Corporation shall be entitled to equitable relief, including injunction and specific performance, to enforce the forgoing provisions.

 

ARTICLE XIV

 

The Corporation reserves the right to amend, alter, change or repeal any provision contained in this Certificate of Incorporation, in the manner now or hereafter prescribed by statute, and all rights conferred upon stockholders herein are granted subject to this reservation.

 

[Signature Page Follows]

 

 

IN WITNESS WHEREOF, the undersigned has executed this Amended and Restated Certificate of Incorporation as of this 31st day of January 2017.

 

 

	
 
    	
BIOVERATIV INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ John G. Cox
    
	
 
    	
 
    	
Name:
    	
John G. Cox
    
	
 
    	
 
    	
Title:
    	
Chief Executive Officer

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