Document:

Document

Exhibit 10.52

EXECUTION VERSION

TWELFTH AMENDMENT TO THE 
RECEIVABLES PURCHASE AGREEMENT
This TWELFTH AMENDMENT TO THE RECEIVABLES PURCHASE AGREEMENT (this “Amendment”), dated as of July 22, 2020, is entered into by and among the following parties:

(i)    TRANSDIGM RECEIVABLES LLC, a Delaware limited liability company, as Seller; 
(ii)    TRANSDIGM, INC., a Delaware corporation, as Servicer; 
(iii)    PNC BANK, NATIONAL ASSOCIATION, as a Committed Purchaser, as Purchaser Agent for its Purchaser Group and as Administrator (“PNC”); and
(iv)    FIFTH THIRD BANK, NATIONAL ASSOCIATION (“Fifth Third”), as a Committed Purchaser and as Purchaser Agent for its Purchaser Group.
Capitalized terms used but not otherwise defined herein (including such terms used above) have the respective meanings assigned thereto in the Receivables Purchase Agreement described below.
BACKGROUND

A.     The parties hereto and PNC Capital Markets LLC, as structuring agent, have entered into a Receivables Purchase Agreement, dated as of October 21, 2013 (as amended, restated, supplemented or otherwise modified through the date hereof, the “Receivables Purchase Agreement”).
B.      Immediately prior to the execution of this Amendment, the Seller, Servicer, PNC, Fifth Third, Atlantic Asset Securitization LLC (“Atlantic”), Credit Agricole Corporate and Investment Bank (“CACIB”, and together with Atlantic, the “CACIB Parties”) are entering into a payoff letter, dated as of the date hereof (the “CACIB Payoff Letter”), whereby obligations owing to the CACIB Parties are being paid in full and the CACIB Parties are exiting the Receivables Purchase Agreement. 
C.    Concurrently herewith, the parties hereto are entering into that certain Amended and Restated Fee Letter in connection herewith (the  “Amended Fee Letter”). 
D.     The parties hereto desire to amend the Receivables Purchase Agreement as set forth herein.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
SECTION 1.    Rebalancing of Capital.  On the date hereof, the Seller will repay a portion of the outstanding Capital in the amounts specified in the flow of funds memorandum attached hereto as Exhibit C.  The Seller hereby requests that Fifth Third and PNC ratably fund a Purchase on the date hereof in an amount set forth in Exhibit C hereto. Such Purchase shall be funded on the date hereof in accordance with the terms of the Receivables Purchase Agreement and upon satisfaction of all conditions precedent thereto specified in the Receivables Purchase Agreement; provided, however, that no Purchase Notice shall be required therefor.  For administrative convenience, the Seller hereby instructs Fifth Third and PNC to fund the foregoing Purchase by paying the proceeds thereof directly to the accounts and in the amounts specified in Exhibit C hereto to be applied as the foregoing repayment of Capital (as applicable) on the Seller’s behalf.
SECTION 2.   Amendments to the Receivables Purchase Agreement.  The Receivables Purchase Agreement is hereby amended to incorporate the changes shown on the marked pages of the Receivables Purchase Agreement attached hereto as Exhibit A.
SECTION 3.  Representations and Warranties of the Seller and Servicer.  Each of the Seller and the Servicer hereby represents and warrants, as to itself, to the Administrator, each Purchaser and each Purchaser Agent, as follows:
(a)    Representations and Warranties.  Immediately after giving effect to this Amendment, the representations and warranties made by such Person in the Transaction Documents to which it is a party are true and correct as of the date hereof (unless stated to relate solely to an earlier date, in which case such representations or warranties were true and correct as of such earlier date).
(b)    Enforceability. This Amendment and each other Transaction Document to which it is a party, as amended hereby, constitute the legal, valid and binding obligation of such Person enforceable against such Person in accordance with its respective terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity, regardless of whether enforceability is considered in a proceeding in equity or at law.
(c)    No Termination Event.  No event has occurred and is continuing, or would result from the transactions contemplated hereby, that constitutes a Purchase and Sale Termination Event, an Unmatured Purchase and Sale Termination Event, a Termination Event or an Unmatured Termination Event.
SECTION 4.   Effect of Amendment.  All provisions of the Receivables Purchase Agreement and the other Transaction Documents, as expressly amended and modified by this Amendment, shall remain in full force and effect. After this Amendment becomes effective, all references in the Receivables Purchase Agreement (or in any other Transaction Document) to “this Receivables Purchase Agreement”, “this Agreement”, “hereof”, “herein” or words of 
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similar effect referring to the Receivables Purchase Agreement shall be deemed to be references to the Receivables Purchase Agreement as amended by this Amendment. This Amendment shall not be deemed, either expressly or impliedly, to waive, amend or supplement any provision of the Receivables Purchase Agreement other than as set forth herein.
SECTION 5.  Effectiveness. This Amendment shall become effective as of the date hereof upon the satisfaction of the following conditions precedent:
(a)    The Administrator shall have received counterparts of this Amendment, duly executed by each of the parties hereto.
(b)    The Administrator shall have received counterparts of the Amended Fee Letter duly executed by each of the parties thereto.
(c)    The Administrator shall have received confirmation that the “Closing Fees” set forth in the Amended Fee Letter have been paid in accordance with the terms thereof.
(d)    The Administrator shall have received such other agreements, documents, certificates, instruments and opinions listed on the closing memorandum attached as Exhibit B hereto.
SECTION 6.   Counterparts. This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute but one and the same instrument.  Delivery of an executed counterpart of a signature page to this Amendment by facsimile or e-mail transmission shall be effective as delivery of a manually executed counterpart hereof.
SECTION 7.    GOVERNING LAW.  THIS AMENDMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).
SECTION 8.    Section Headings.  The various headings of this Amendment are included for convenience only and shall not affect the meaning or interpretation of this Amendment, the Receivables Purchase Agreement or any provision hereof or thereof.

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IN WITNESS WHEREOF, the parties hereto have executed this Amendment by their duly authorized officers as of the date first above written.
TRANSDIGM RECEIVABLES LLC,  
as Seller 
 
 
By: /s/ Halle F. Terrion     
Name: Halle F. Terrion     
Title:   Secretary     
 

TRANSDIGM, INC., 
as Initial Servicer 
 
 
By: /s/ Halle F. Terrion     
Name: Halle F. Terrion     
Title:   Secretary    
  

    S-1    Twelfth Amendment to the
        Receivables Purchase Agreement

PNC BANK, NATIONAL ASSOCIATION, 
as a Committed Purchaser, as a Purchaser Agent and as Administrator

By: /s/ Michael Brown                                            
Name: Michael Brown 
Title:   Senior Vice President
    S-2    Twelfth Amendment to the
        Receivables Purchase Agreement

FIFTH THIRD BANK,  
as a Committed Purchaser and as Purchaser Agent for its Purchaser Group

By: /s/ Brian Gardner                                            
Name: Brian Gardner
Title:   Managing Director
    S-3    Twelfth Amendment to the
        Receivables Purchase Agreement

Exhibit A
[See Attached]

    Exhibit A    Twelfth Amendment to the
        Receivables Purchase Agreement

Exhibit B
Closing Memorandum
[See Attached]

Exhibit B    Twelfth Amendment to the
        Receivables Purchase Agreement

Exhibit C
[See Attached]

    Exhibit C    Twelfth Amendment to the
        Receivables Purchase AgreementExhibit 10.5
LEASE AMENDMENT
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THIS LEASE AMENDMENT (“Agreement”) is entered into as of the 11th day of November, 2020 by and between Agile Therapeutics, Inc. ("Tenant") and Bunn Farm Associates, LLC (“Landlord”).
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WITNESSETH:
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WHEREAS, Landlord and Tenant entered into a lease dated November 19, 2010, which was amended on November 20, 2012, July 24, 2013, August 20, 2015, April 22, 2016, and December 1, 2016 (collectively, the "Lease") for approximately 5,750 square feet of office space on the third floor of Unit A of Herrontown Woods Condominium located at 101 Poor Farm Road, Princeton, New Jersey 08540 (“Third Floor Space”), an additional, approx. 1,570 square feet, of additional space located on the second floor of Unit A of Herrontown Woods Condominium (“1,570 Square foot Space”), and an additional 900 square feet +/- of office space located on the second floor of Unit A of Herrontown Woods Condominium located at 101 Poor Farm Road, Princeton, New Jersey 08540 (“900 Square foot Space”) (collectively "Demised Premises"); and
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WHEREAS, Landlord and Tenant desire to amend and modify the Lease to extend the term of the Third Floor Space through December 31, 2021 and confirm the relinquishment, as of November 30, 2020, of all of the Space on the second floor of Unit A of Herrontown Woods Condominium, including, but not limited to, the 1,570 Square foot Space and the 900 Square foot Space.
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NOW THEREFORE, for good and valuable consideration, the receipt and adequacy of which is hereby expressly acknowledged, the parties hereto, each intending to be legally bound, do hereby agree as follows:
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1.         Recitals.  The Recitals to this Agreement stated above are hereby incorporated herein by reference.
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2.         Lease Amendment - Demised Premises.  The Lease shall be amended to extend the term of the Third Floor Space through December 31, 2021 and confirm the relinquishment, as of November 30, 2020, of all of the Space on the second floor of Unit A of Herrontown Woods Condominium, including, but not limited to, the 1,570 Square foot Space and the 900 Square foot Space.
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3.         Lease Amendment - Monthly Base Rent.  The term, Annual Rent and Monthly Base Rent to be paid by Tenant to the Landlord December 1, 2020 through December 31, 2021 for the Third Floor Space shall be:
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December 1, 2020 – December 31, 2021 - $12,500.00/mo.
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4.         Condition.  The Tenant will accept the Third floor Space in its "AS-IS" condition.  The Tenant will relinquish, as of November 30, 2020, all of the Space on the second floor of Unit A of Herrontown Woods Condominium, including, but not limited to, the 1,570
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Square foot Space and the 900 Square foot Space, in vacant, broom clean condition in accordance with the terms of the Lease and as instructed by the Landlord removing all personal property located the 1,570 Square foot Space and the 900 Square foot Space unless Landlord advises that any such personal property should be left.
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5.         Entire Agreement.  This Agreement, together with the Lease, as modified, embodies the entire agreement of Landlord and Tenant with respect to the subject matter of this Agreement.  This Agreement supersedes any prior agreements, whether written or oral, with respect to the subject matter of this Agreement.  There are no agreements or understandings which are not set forth in the Lease or this Agreement. This Agreement may be modified only by a written instrument duly executed by Tenant and Landlord.  In the event of any conflict between the terms of this Agreement and the Lease, this Agreement shall govern as to the term in conflict.  Except as expressly modified herein, all of the terms and conditions of the Lease and all prior amendments to the Lease remain in full force and effect.
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6.         Binding Effect. The terms and provisions of this Agreement will inure to the benefit of, and will be binding upon, the permitted successors, assigns, personal representatives, heirs, devisees, and legatees of Tenant and Landlord. Tenant and Landlord have executed this Agreement on the respective dates set forth beneath their signatures below. Any agent or other person executing this Agreement on behalf of any party represents and warrants to the others and to Landlord that he or she has full power and authority to execute this Agreement on such party's behalf.
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7.         Governing Law.  The interpretation and construction of this Agreement, and all matters relating hereto, shall be governed by the laws of the State of New Jersey applicable to agreements executed and to be performed solely within the State of New Jersey.
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8.         Jurisdiction; Agents for Service of Process.  Any proceeding brought against any of the parties to this Agreement on any dispute arising out of this Agreement or any matter related hereto shall be brought in the courts of the County of Mercer, State of New Jersey, or in the United States District Court for New Jersey, and, by execution and delivery of this Agreement, each of the parties to this Agreement accepts the exclusive jurisdiction of such courts, and irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement.
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9.         Legal Representation.  The parties acknowledge that they have entered into this Agreement after consultation with their respective attorneys.
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10.       Full Force and Effect.  Except as specifically and expressly modified by this Agreement, the terms and conditions of the Lease shall remain in full force and effect.
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11.       Defined Terms.  All capitalized terms that are not otherwise defined herein shall have the meanings assigned to such terms in the Lease.
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IN WITNESS WHEREOF, the parties hereto have executed, or have caused their duly authorized representatives to execute, this Agreement the day and year first above written.
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	Agile Therapeutics, Inc.

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	By:
	/s/ Al Altomari

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	Name:
	Al Altomari, Chairman and Chief Executive Officer

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	Date:
	November 11, 2020

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	Bunn Farm Associates, LLC

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	By:
	/s/ Shawn M. Neufeld

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	Name:
	Shawn M. Neufeld, Manager

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	Date:
	November 11, 2020

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