Document:

Exhibit

 

Third Amendment
dated September 21st,  2016
of the
Credit Facility Agreement
Regarding an Umbrella Credit Facility in the amount of 
EUR 30,000,000.00
dated August 7th, 2014

IPG Laser GmbH
Siemensstrasse 7
57299 Burbach
(the „Borrower“)

and

Deutsche Bank AG
Filiale Deutschlandgeschäft
An den Dominikanern 11 - 27
50668 Cologne
(the „Bank“)

have entered into an Agreement, which had been amended by the 1st Amendment dated October 1st, 2015 and the 2nd Amendment dated April 18th, 2016 (the „Credit Facility Agreement“) pursuant to which the Bank makes available a revolving umbrella credit facility to the Borrower (the “Umbrella-Credit Facility”) on the basis of the Bank’s General Business Conditions (Allgemeine Geschäftsbedingungen). The Credit Facility Agreement will be amended with this 3rd Amendment as follows:

The § 2 of the UMBRELLA-CREDIT FACILITY will be amended and restated as follows:

§ 2 - UMBRELLA-CREDIT FACILITY:
		
	(1)
	Aggregate Facility Amount

The Bank makes available to the Borrower a credit facility in the amount of up to
Euro 30,000,000.00 (in words: Euro Thirty Million) („Aggregate Facility Amount“).
The Aggregate Facility Amount is divided into the following facilities: 
		
	(a)
	Facility 1: revolving cash credit facility in the amount of up to Euro 14,000,000.00 (in words: Euro Fourteen Million) (“Facility 1”).

		
	(b)
	Facility 2: revolving guarantee facility in the amount of up to Euro 9,000,000.00 (in words: Euro Nine Million) (“Facility 2”).

		
	(c)
	Facility 3: revolving margin line in the amount of up to Euro 7,000,000.00 (in words: Euro Seven Million) (“Facility 3”).

(2)    Term of the Facilities
The Facilities are available until July 31st, 2017 (“Term of the Umbrella-Credit Facility”).
		
	(3)
	Purpose

		
	(a)
	The proceeds of Facility 1 shall be applied towards purposes of financing short-term working capital requirements, especially financing of the outstanding accounts receivables and inventories of the Borrower as well as - pursuant to § 4 - of companies of which a Borrower directly or indirectly owns a majority interest according to § 16 of the German Stock Companies Act (Aktiengesetz) (“Subsidiaries”). For purposes of this Credit Facility Agreement only the IPG Photonics (Beijing) Fiber Laser Technology Company Limited, Beijing, China is deemed to be a Subsidiary (irrespective of § 16 of the German Stock Companies Act).

The use of Facility 1 for acquisitions irrespective of form, duration and amount will require the prior consent of the Bank.
		
	(b)
	The proceeds of Facility 2 shall be applied towards the issuance of Guarantees upon instruction of the Borrower as well as - pursuant to § 4 - of its respective Subsidiaries.

		
	(c)
	Facility 3 may only be utilized by entering into financial derivatives transactions with the Subsidiaries of the Borrower - subject to the provisions of § 4.

		
	(4)
	Definitions

In this Credit Facility Agreement the following words and terms are defined as specified below:
„Banking Day“ means a day (other than a Saturday or Sunday) on which banks are open for general business in Cologne.
„EONIA“ means the Euro OverNight Index Average as determined by the European Central Bank for each Target-day. On days which are not a TARGET-day the EONIA as determined on the immediately preceding TARGET-day shall apply. If no EONIA is available on a Target-day the Bank will determine the applicable reference interest rate in accordance with section 315 German Civil Code (BGB) on the basis of the quotations for overnight funds in the European interbank market.

„EURIBOR“ means the interest rate per annum for deposits in Euro for the relevant interest period displayed on page 248 of the Telerate screen or a respective succeeding screen replacing page 248 for 11.00 a.m. 

Brussels time two TARGET-days prior to the disbursement/the commencement of the respective interest period. If the EURIBOR cannot be determined two TARGET-days prior to the first interest period, the Bank and the Borrower will negotiate the interest rate for the relevant interest period. The Bank is not obligated to disburse the loan unless an agreement about the applicable interest rate has been reached. The Bank is released from its obligation to disburse the loan if an agreement about the applicable interest rate is not reached within 15 days. If the EURIBOR for an interest period following the first interest period cannot be determined two TARGET-days prior to the commencement of the relevant interest period the Bank will determine interest for the relevant interest period based on interest rates customary in the European interbank market for the particular interest period plus the agreed margin.
"Financial Indebtedness" means any indebtedness for or in respect of (i) moneys borrowed, (ii) any letters of credit issued and acceptances accepted or issued, which had been discounted, (iii) any amount raised pursuant to any note purchase facility or the issue of bonds, notes, debentures, loan stock or any similar instrument, (iv) lease contracts which would, in accordance with orders or statements of practice of the Federal Ministry of Finance or GAAP under the applicable law as the case may be, be treated as a finance or operating lease, (v) receivables sold or discounted (other than any receivables to the extent they are sold on a non-recourse basis), (vi) any amount raised under any other transaction (including any forward sale or purchase agreement) having the commercial effect of a borrowing, (vii) any derivative transaction entered into in connection with protection against or benefit from fluctuation in any rate or price (and, when calculating the value of any derivative transaction, only the marked to market value shall be taken into account), (viii) any counter-indemnity obligation in respect of a guarantee, indemnity, bond, standby or documentary letter of credit or any other instrument issued by third parties unless both obligations are reported, the primary obligation on and the obligation of the counter-indemnity on or below, the same balance sheet; and (ix) the amount of any liability in respect of any guarantee or indemnity for any of the items referred to in paragraphs (i) through (viii) above, (x) a guarantee, surety or other obligation for any of the obligations listed in paragraphs (i) through (ix), and (xi) provisions for pension obligations.
„TARGET-day“ is any day on which the Trans-European Automated Real Time Gross Settlement Express Transfer System is open for the settlement of payments in Euro.

All other terms and conditions of the Credit Facility Agreement remain unaffected by this amendment.
Any Amendment to the Credit Facility Agreement is required to be made in writing.

Deutsche Bank AG
Filiale Deutschlandgeschäft

Köln, September 21st, 2016            /s/ Bodo Baedorf                                /s/ Joachim Gartz
Baedorf                Gartz

IPG Laser GmbH

Burbach, Germany November 1st, 2016        /s/ Eugene Scherbakov
Place, Date    

Noted and agreed:

IPG Photonics Corporation

Oxford, Mass., USA November 1st, 2016    /s/ Timothy P.V. Mammen
Place, DateExhibit

	
								
	Annex 1 (3rd Amendment) to the Corporate Guarantee dated August 11th, 2014 in the amount of EUR 30 mn

	in connection with the Umbrella Facility Agreement in the amount of EUR 30 mn dated 21.07.2014 including the 1st Amendment dated 01.10.2015, the 2nd Amendment dated 18.04.2016 and the 3rd Amendment dated 21.09.2016 (the "Umbrella Facility Agreement")

	 
	 
	 
	 
	 
	 
	 
	 

	The following branches and subsidiaries of Deutsche Bank AG ("Lending Offices") have entered into business relationship

	with the subsidiaries of IPG Laser GmbH (named hereinafter "IPG Laser Group")

	 
	 
	 
	 
	 
	 
	 
	 

	In this context the following facilities of the Umbrella Credit Agreement dated 21.07.2014 have been allocated

	inter alia for the use of the companies listed hereafter:

	 
	 
	 
	 
	 
	 
	 
	 

	Summary of credit agreements for the IPG Laser Group of companies in Germany and abroad:

	 
	 
	 
	 
	 
	 
	 
	 

	Debtor
	Lending Office
	local currency
	amount (in currency)
	Facility 1
Cash
	Facility 2
Guarantee 
	Facility 3
Margin Line 
	total

	if not in EURO convert to EURO

	 
	 
	 
	 
	 
	 
	 
	 

	IPG Photonics (Italy) s.r.l., Via Kennedy 21, 20023 Cerro Maggiore (Milano), Italy
	Deutsche Bank Spa, Milano, Italy
	 
	 
	3,000,000
	0
	0
	3,000,000

	IRE-Polus NTO, 141190, Fryazino pl. Vvedenskogo, Russia
	Deutsche Bank Ltd., Moscow, Russia
	 
	 
	0
	0
	0
	0

	IPG Photonics (Beijing) Fiber Laser Technology Company Limited
	Deutsche Bank Ltd., Beijing, China
	 
	 
	2,000,000
	1,000,000
	7,000,000
	10,000,000

	 
	 
	 
	 
	 
	 
	 
	0

	 
	 
	 
	 
	 
	 
	 
	0

	 
	 
	 
	 
	 
	 
	 
	0

	 
	 
	 
	 
	 
	 
	 
	0

	 
	 
	 
	 
	 
	 
	 
	0

	 
	 
	 
	 
	 
	 
	 
	0

	 
	 
	 
	 
	 
	 
	 
	0

	Total credit lines based on the guarantee  
	 
	 
	 
	5,000,000 
	1,000,000 
	7,000,000 
	13,000,000 

	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 

	Burbach, November 1, 2016
	 
	Köln,  21st September 2016
	 
	 
	 

	Place and date
	 
	Place and date
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 

	/s/ Eugene Scherbakov
	 
	 
	 
	 
	 
	 
	 

	IPG Laser GmbH
	 
	/s/ Bolo Baedorf                  /s/ Joachim Gartz
	 

	(legally binding signatures of the Guarantor)
	 
	(Deutsche Bank AG Filiale Deutschlandgeschäft)
	 

	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 

	/s/ Timothy P.V. Mammen  November 1, 2016
	 
	 
	 
	 
	 
	 

	(legally binding signature of IPG Photonics Corporation)grwd_ex101.htm

EXHIBIT 10.1
 
BINDING LETTER OF INTENT
 
This Binding Letter of Intent (this “LOI”) is entered into by and between GREENWIND NRG, INC., a Nevada corporation (the “Company” or “Greenwind”), and NEWGEN BIOPHARMA CORP.,a New Jersey corporation (“NewGen”).
 
BACKGROUND AND PURPOSE
 
A. The Company is a fully reporting publicly traded company in good standing on the United States over-the-counter (OTCQB) securities market.
 
B. The Company wishes to acquire NewGen through a reverse acquisition and believes NewGen to have a valuable product and intellectual property rights related to its nanotechnology platforms.
 
C. The Company and NewGen wish to enter into a voluntary share exchange (the “Exchange”) transaction whereby the Company would acquire all of the issued and outstanding units of NewGen in exchange for the issuance to the shareholders of NewGen of approximately 40,000,000 shares of common stock of the Company.
 
D. The parties wish to enter into this LOI which states that the Closing of the Exchange will occur upon completion of the conditions as set forth herein and in a formal, definitive agreement.
 
AGREEMENT
 
NOW, THEREFORE, in consideration of the mutual agreements and representations contained herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:
 
1. This LOI constitutes a binding agreement with regard to the various matters set forth herein and shall become effective on execution of this LOI. The Company understands that time is of the essence with respect to an advance in the amount of $100,000 and hereby agrees to provide such an advance of $100,000, in immediately available funds, within 3 business days of the execution of this LOI. Such advance will be subject to the terms and conditions of a promissory note in the form of Exhibit A (the “LOI Advance”). The general use of these funds are as follows: u.
 
2. The Company and NewGen agree that they will enter into a mutually agreed upon definitive agreement containing substantially the same terms and provisions as set forth in Paragraphs 3-15 of this LOI within thirty (30) days from the date of execution of this LOI (the “Definitive Agreement”). 
    	 
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3. Upon the satisfaction of the conditions set forth herein and in the Definitive Agreement, the Company will acquire all of the issued and outstanding capital stock of NewGen in exchange for the issuance to the shareholders of NewGen of 40,000,000 shares of common stock of the Company. At the Closing, NewGen shall become wholly-owned by the Company and the note evidencing the LOI Advance shall be cancelled as an intercompany loan in connection with the Exchange. 
 
4. The closing of the Exchange (the “Closing”) shall occur on or before thirty (30) days from the date on which NewGen completes the audit of its financial statements as required to be filed by the Company upon the Closing in accordance with the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and approval by NewGen shareholders and note holders (if any) of the Definitive Agreement and the transactions contemplated thereunder and hereunder. Immediately prior to the Closing, the Company will have 10,000,000 shares of common stock, on a fully diluted basis, issued and outstanding. At the Closing, after giving effect to the Exchange, the capitalization of the Company will be as set forth on Exhibit B. 
 
5. After the Closing, the Company will be managed by NewGen’s current management and board of directors. The existing board of directors and officers of the Company will resign effective as of the Closing and be replaced by officers and directors to be designated by NewGen. For the avoidance of doubt, these board of directors will include Dr. Rahul Singhvi, Dr. Navdeep Jaikaria (Chairman), and additional directors that will be determined by Closing, and the officers will include Dr. Navdeep Jaikaria, CEO; and any other officers and directors designated by NewGen. 
 
6. In consideration for the proposed transactions, the Company shall, upon completion of the Closing, issue 40,000,000 common shares to the currently existing shareholders of NewGen (the “NewGen Shareholders”). The Company plans to offer and sell up to 2,000,000 shares of its common stock at a price of $1.00 per share and warrants to purchase up to 2,000,000 shares of its common stock (the “Financing”) in connection with the transactions contemplated hereunder. The warrants will be exercisable for a period of 12 months (subject to acceleration in certain circumstances) at a price of $1.00 per share. After the Closing and the Financing, the current NewGen shareholders will hold approximately 76% of the outstanding shares of capital stock of the Company. 
 
7. The Company shall have no more than 52,000,000 shares (10,000,000 in Greenwind, 40,000,000 per the issuance to NewGen and 2,000,000 per the Financing) of common stock issued and outstanding after completion of the full $2,000,000 Financing, excluding any shares of common stock issuable under outstanding warrants. In the event the Company fails to meet the terms of the Financing, unless waived by the parties hereto, the Company and NewGen will mutually agree to take all necessary actions to rescind the Exchange in the most cost-effective and expeditious manner. 
 
8. At the Closing, the Company will have no more than $1,000 in liabilities outstanding and no undisclosed liabilities, commitments or other obligations of any kind other than the Company’s obligations to NewGen pursuant to this LOI and the Definitive Agreement.
 
9. Up to $75,000 in legal, accounting or other fees and expenses related to the Closing shall be paid for by the Company prior to the Closing and shall be in addition to the Advance, and shall be offset against the aggregate Financing amount and credited against the final financing tranches to be funded.
    	 
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10. NewGen represents that the board of directors of Newgen has approved this LOI and the transactions contemplated hereunder.
 
11. The parties intend for the post-Closing and post-Financing capitalization table of the Company to be substantially as attached hereto as Exhibit B. Any update to Exhibit B between now and the execution of the Definitive Agreement will have no effect on total number of shares (40,000,000) issued by Company to NewGen.
 
12. The Company shall advance any audit fees necessary to obtain an audit and comply with the filing requirements of the Exchange Act. Any advances by the Company under this Paragraph 12 for audit fees prior to the Closing shall be in addition to the Advance, and shall be offset against the aggregate Financing amount and credited against the final financing tranches to be funded.
 
13. The Definitive Agreement will contemplate advances of $400,000 upon Closing and $500,000 per quarter thereafter with total advances (including the Advance) of not more than $2,000,000. Such advances will principally be subject to the same terms and conditions of that promissory note in the form of Exhibit A (the “LOI Advance”).
 
14. NewGen hereby grants to the Company a limited and non-exclusive license to use the name “NewGen BioPharma Corp.” NewGen further agrees to provide consents, as may be required by the Company to make filings for the use of such name; provided, however, that in no event shall NewGen be precluded from continuing to use any names currently used by NewGen. In the event Closing does not occur, the Company agrees to immediately change its name to one unrelated to NewGen. 
 
15. The Definitive Agreement shall contain customary representation and warranties, covenants and indemnification provisions as shall be mutually agreed upon by NewGen and the Company. 
 
16. In consideration of the time and effort the Company will incur to pursue this transaction, NewGen agrees that, from the date of execution of this LOI (or, if sooner, until such time as this LOI is terminated) until the Closing, neither NewGen nor any person or entity acting on its behalf will in any way directly or indirectly (i) solicit, initiate, encourage or facilitate any offer to directly or indirectly purchase NewGen or any of its material assets or equity, (ii) enter into any discussions, negotiations or agreements with any person or entity which provide for such purchase, or (iii) provide to any persons other than its shareholders or the Company or its representatives any information or data related to such purchase or afford access to the properties, books or records of NewGen to any such persons. If NewGen, or its representatives receive any inquiry or proposal offering to purchase NewGen or any part of its assets or equity, NewGen will promptly notify the Company. No party hereto will make any disclosure or public announcements of the proposed transactions, the LOI or the terms thereof without the prior consent of the other party, which shall not be unreasonably withheld, or except, and only to the extent, as required by the applicable rules and regulations of the Securities and Exchange Commission. 
    	 
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17. Prior to the Closing, the Company and its representatives shall maintain the confidentiality of all confidential information that is provided to the Company by NewGen or its representatives except to the extent such disclosure is required by law. Each party agrees and acknowledges that such party and its directors, officers, employees, agents and representatives will disclose business information and information about the proposed transaction in the course of securing financings for the Company and NewGen and that the parties and their representatives may be required to disclose that information under the continuous disclosure requirements of the Exchange Act.
 
18. This LOI shall be construed in accordance with, and governed by, the laws of the State of Nevada, and each party separately and unconditionally subjects to the jurisdiction of any court of competent authority in the State of Nevada, and the rules and regulations thereof, for all purposes related to this agreement and/or their respective performance hereunder.
 
19. The parties shall prepare, execute and file any and all documents necessary to comply with all applicable federal and state securities laws, rules and regulations in any jurisdiction where they are required to do so.
 
20. If any term or provision hereof shall be held illegal or invalid, this LOI shall be construed and enforced as if such illegal or invalid term or provision had not been contained herein.
 
21. This LOI may be executed in counterparts, by original or facsimile signature, with the same effect as if the signatures to each such counterpart were upon a single instrument; and each counterpart shall be enforceable against the party actually executing such counterpart. All counterparts shall be deemed an original copy.
 
22. The delay or failure of a party to enforce at any time any provision of this LOI shall in no way be considered a waiver of any such provision, or any other provision of this LOI. No waiver of, delay or failure to enforce any provision of this LOI shall in any way be considered a continuing waiver or be construed as a subsequent waiver of any such provision, or any other provision of this LOI.
 
23. This LOI may be terminated prior to entering into the Definitive Agreement (i) by mutual written agreement of the parties, (ii) by either party if the Definitive Agreement has not been entered into by October 31, 2016 through no fault of terminating party, or (iii) by either party in the event of a material breach of this LOI by the other party, including failure by the Company to promptly fund the LOI Advance after execution of this LOI.
 
[SIGNATURE PAGE FOLLOWS]
 
	 
	4

	

	 

 
DATED EFFECTIVE: October 27, 2016
 
	 	GREENWIND NRG, INC.	
	 	 	 	 
		By:	/s/ Jerwin Alfiler	
	 
	Name:
	Jerwin Alfiler	 
	 	Title:	President	 
	 	 	 	 
	 
	NEWGEN BIOPHARMA CORP.	 

	 
	 
	 
	 

	 
	By:
	/s/ Navdeep Jaikaria
	 

	 
	Name:
	Navdeep Jaikaria
	 

	 
	Title: 
	Chairman, President & CEO
	 

 
	 
	5

	

	 

 
EXHIBIT A
 
FORM OF PROMISSORY NOTE
 
 
 
 
 
 
 
 
Exhibit A
 
	 
	6

	

	 

 
EXHIBIT B
 
CAPITALIZATION TABLE
 
	 
	Shares at Closing
	Percentage
	Shares after
Closing and Financing
	Percentage

	   Current (Greenwind) Shareholders
	10,000,000
	20.00%
	10,000,000   
	19.23%

					 

	   NewGen Shareholders
	40,000,000
	80.00%
	40,000,000   
	76.92%

					 

	   Financing
		 
	2,000,000   
	3.85%

					 

	   Total
	50,000,000
	100.00%
	52,000,000   
	100.00%

					 

	   Warrant Holder
	Price
				 

	   Financing Warrants
	$1.00
		 
	2,000,000   
	
					 

	   Fully Diluted Number
	50,000,000
	 
	54,000,000   
	

 
 
 
Exhibit B
 
    	7

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