Document:

Exhibit 10.1

 

sEVENTh
AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

This SEVENTH AMENDMENT TO REVOLVING CREDIT
AGREEMENT (this “Loan Amendment”) dated as of November 1, 2015, is entered into by and among LANDMARK BANCORP, INC.,
a Delaware corporation (the “Borrower”), and FIRST NATIONAL BANK OF OMAHA, a national banking association with principal
offices in Omaha, Nebraska (the “Bank”) (the Borrower and the Bank are sometimes hereinafter individually referred
to as a “Party” and collectively referred to as the “Parties”).

 

WHEREAS, the Parties have entered into
that certain Revolving Credit Agreement dated as of November 19, 2008 (the “Initial Credit Agreement”), as amended
by that certain letter agreement among the Parties dated February 6, 2009, a First Amendment to Revolving Credit Agreement among
the Parties dated November 18, 2009, a Second Amendment to Revolving Credit Agreement among the Parties dated November 5, 2010,
a Third Amendment to Revolving Credit Agreement among the Parties dated November 4, 2011, a Fourth Amendment to Revolving Credit
Agreement among the Parties dated November 5, 2012, a Fifth Amendment to Revolving Credit Agreement among the Parties dated November
5, 2013, and a Sixth Amendment to Revolving Credit Agreement dated November 6, 2014 (hereinafter collectively referred to as the
“Credit Agreement”); and

 

WHEREAS, the Parties desire to amend and
modify the Credit Agreement, as hereinafter provided and subject to the terms and provisions hereof.

 

NOW, THEREFORE, in consideration of the
foregoing and the mutual promises, covenants and agreements set forth in the Credit Agreement as amended by this Loan Amendment,
including the mutual covenants and agreements contained herein, the Parties agree as follows:

 

1.          Definitions.
Unless otherwise defined in this Loan Amendment, each capitalized term used in this Loan Amendment, including its preamble and
recitals, has the meaning ascribed to it in the Credit Agreement.

 

2.          Amendment
to Definition. The following defined terms as reflected in Section 1.01 of the Credit Agreement shall be, and hereby are, deleted
in there entireties and replaced by the definitions reflected below inserted, in alphabetical order, for such defined term:

 

“Loan Termination Date”
means the earliest to occur of the following: (a) November 1, 2016, (b) the date the Obligations are accelerated pursuant to this
Agreement or the Revolving Note and (c) the date the Bank has received (i) notice in writing from the Borrower of the Borrower’s
election to terminate this Agreement or the Revolving Note or (ii) indefeasible payment in full of the Obligations.

 

3.          Restated
Definition. The Parties agree that the following defined term shall remain unchanged from how it is set forth section 1.01
of the Credit Agreement, and it is restated in this Seventh Amendment for convenience of the Parties only.

 

“Floor”
means three and seventy-five hundredths percent (3.75%) per annum.

 

4.          Amended
Revolving Note. Borrower shall, upon execution of this Loan Amendment, execute and deliver to the Bank a Seventh Amended and
Restated Revolving Note, in the form attached hereto as Exhibit “A” and incorporated herein by this reference (the
“Amended Revolving Note”) for the purpose of extending the Loan Termination Date. All references to the Revolving Note
in the Credit Agreement or in any of the other Loan Documents shall be deemed for all purposes to be a reference to the Amended
Revolving Note.

 

5.          Amendment
to Section 2.03 of Credit Agreement. The Parties agree that Section 2.03 of the Credit Agreement shall be amended to clarify
the use of the Floor, and hereby is, as of the date hereof, deleted in its entirety and replaced with the following:

 

Section
2.03. Interest. The Borrower shall pay interest to the Bank on the outstanding and unpaid principal amount of the Loans made
hereunder at a rate equal to the greater of (1) the Floor, or (2) a rate per annum equal to the Prime Rate, adjusted on
a daily basis, minus twenty five (25) basis points, prior to acceleration or maturity. Interest shall be calculated on the basis
of a year of three hundred sixty (360) days for the actual number of days elapsed. All accrued and unpaid interest relating to
the activity for the preceding calendar quarter shall be paid in immediately available funds on the first day of each calendar
quarter (Commencing February 1, 2016 and on every February 1, May 1, August 1, and November 1, thereafter). All payments of principal
and interest made hereunder, whether during the term hereof or upon the stated maturity of the Loans, shall be made at the Principal
Office. Following and during the continuation of an Event of Default, any principal amount and accrued, but unpaid interest shall
bear interest at a rate per annum equal at all times to the Prime Rate, in effect from time to time, plus six hundred (600) basis
points.

 

    1

     

    

  

6.          Conditions
Precedent. In addition to any conditions precedent contained in any of the Loan Documents or otherwise contained in this Loan
Amendment, the obligations of the Bank under this Loan Amendment are expressly conditioned upon satisfaction of the following additional
conditions precedent:

 

(a)       Execution
of the Loan Amendment. The Bank shall have received from the Borrower counterpart signatures of this Loan Amendment.

 

(b)       Delivery
of Documents. The Bank shall have received, each in a form acceptable to the Bank, such other documents, instruments, and writings,
including but not limited to authorization and incumbency certificates with reasonable documentation attached thereto and incorporated
therein, reasonably requested by the Bank.

 

7.          Ratification;
No Waiver. The Parties agree that, except as specifically amended hereby, the terms and provisions of the Credit Agreement
and all of the other Loan Documents, are hereby ratified and shall remain in full force and effect. No amendment contained in this
Loan Amendment shall be construed to amend or waive any obligation of the Borrower under the Credit Agreement or any provision
of any of the Loan Documents, except to the extent of the specific amendment referenced herein. No delay or omission by the Bank
in exercising any power, right, or remedy shall impair such power, right, or remedy or be construed as a waiver thereof or an acquiescence
therein, and no single or partial exercise of any such power, right, or remedy shall preclude other or further exercise thereof
or the exercise of any other power, right, or remedy under the Credit Agreement or any other Loan Documents, or otherwise.

 

8.          Authorization.
The Borrower hereby represents and warrants that (i) the undersigned is a duly authorized representative of the Borrower, (ii)
the Borrower has the requisite power and authority to execute and deliver this Loan Amendment, (iii) the execution, delivery and
performance of this Loan Amendment have been, duly authorized, approved and ratified by all required organizational action of the
Borrower, and (iv) the amendments specifically referenced herein reflect all of the amendments being requested by the Borrower
relating to the terms and provisions of the Credit Agreement and the other Loan Documents.

 

9.          Governing
Law. This Loan Amendment shall be governed by the laws of the State of Nebraska, other than conflict of law provisions thereof.

 

10.         Submission
to Jurisdiction; Venue. The Borrower hereby submits to the jurisdiction of any state or federal court sitting in Omaha, Nebraska,
in any action or proceeding arising out of or relating to this Loan Amendment, the Credit Agreement or any of the other Loan Documents,
and agrees that all claims in respect of the action or proceeding may be heard and determined in any such court. The Borrower also
agrees not to bring any action or proceeding arising out of or relating to this Loan Amendment, the Credit Agreement, or any other
Loan Document in any other court. The Borrower waives any defense of inconvenient forum to the maintenance of any action or proceeding
so brought and waives any bond, surety, or other security that might be required of the Bank. The Borrower agrees that a final
judgment in any action or proceeding so brought shall be conclusive and may be enforced by suit on the judgment or in any other
manner provided by law or at equity. The Borrower hereby waives any rights it may have to transfer or change the venue of any suit,
action or other proceeding brought against the Borrower by the Bank in accordance with this paragraph or in connection with this
Loan Amendment, the Credit Agreement or any other Loan Documents.

 

11.         JURY
TRIAL WAIVER. THE BANK AND THE BORROWER HEREBY WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM, OR COUNTERCLAIM, WHETHER
IN CONTRACT OR TORT, AT LAW OR IN EQUITY, ARISING OUT OF OR IN ANY WAY RELATED TO THIS LOAN AMENDMENT, THE CREDIT AGREEMENT OR
ANY OF THE OTHER LOAN DOCUMENTS. NO EMPLOYEE OF THE BANK HAS AUTHORITY TO WAIVE, CONDITION, OR MODIFY THE TERMS AND PROVISIONS
OF THIS PARAGRAPH OF THIS LOAN AMENDMENT.

 

12.         Costs
and Expenses.  The Borrower agrees to pay on demand all costs and expenses of the Bank in connection with the preparation,
execution and delivery of this Loan Amendment, including, without limitation, the cost for reasonable fees and out-of-pocket
expenses of outside counsel for the Bank with respect thereto.

 

    	 	2	 

     

    

 

13.         CREDIT
Agreement. A CREDIT Agreement must be in writing to be enforceable under Nebraska law. To protect you and us from any misunderstandings
or disappointments, any contract, promise, undertaking, or offer to forbear repayment of money or to make any other financial accommodation
in connection with this loan of money or grant or extension of credit, or any amendment of, cancellation of, waiver of, or substitution
for any or all of the terms or provisions of any instrument or document executed in connection with this loan of money or grant
or extension of credit, must be in writing to be effective.

 

14.         Counterparts.
This Loan Amendment may be executed in one or more counterparts, any one of which need not contain the signatures of more than
one Party, but all such counterparts taken together will constitute one and the same instrument. A facsimile signature will be
deemed an original signature.

 

IN WITNESS WHEREOF, the Parties hereto
have executed this Credit Amendment as of the date first written above.

 

	 	“Borrower”
	 	 
	 	LANDMARK BANCORP, INC., 

a Delaware corporation
	 	 
	 	By:	 
	 	Title:	 
	 	 
	 	“Bank”
	 	 
	 	FIRST NATIONAL BANK OF OMAHA,

a national banking association
	 	 
	 	By:	 
	 	Title:	 

 

    	 	3EX-10.5.1

 Exhibit 10.5.1 

Mimecast Services Limited (“MSL”) 

Mimecast North America, Inc. (“MNA”) 

Mimecast Limited (incorporated in England and Wales) (“ML England”) 

Mimecast USD Limited (“MUSD”) 

Mimecast Limited (incorporated in Jersey) (“ML Jersey”) 

c/o 
 Citypoint 

Ropemaker Street 
 London EC2Y 9AW 

Attn:     Peter Campbell 
 Dated: 13
November 2015 
 Dear Sirs 
 Amendment Letter and
Confirmation 
 We refer to the loan agreement dated 18 January 2012 as amended and restated on 31 January 2013, 15 July 2014 and
22 May 2015 between (1) MSL and MNA as borrowers, (2) ML England and MUSD as guarantors and (3) Silicon Valley Bank (the “Bank”) (the “Loan Agreement”). 

Definitions and Interpretation 
  

	1.	Terms defined in the Loan Agreement and not otherwise defined herein shall have the same meaning in this letter, and the following terms shall have the following meanings in this letter: 

 

	 	“Effective Date” is defined in paragraph 6. 

  

	 	“Obligors” means together MSL, MNA, ML England, MUSD and ML Jersey. 

  

	2.	Unless the context otherwise requires, references in the Loan Agreement to “this Agreement” shall be to the Loan Agreement as amended by this letter and otherwise from time to time. 

Amendments to the Loan Agreement 
  

	3.	On and from the Effective Date, the Loan Agreement shall be amended as follows: 

  

	 	(a)	the preamble and parties section to the Loan Agreement shall be deleted and replaced with the following: 

  

	 	 	 “This LOAN AGREEMENT (this “Agreement”) dated as of 18 January 2012 (the “Effective Date”) as
amended and restated on 31 January 2013 (the “First Amendment and Restatement Date”), as further amended and restated on 15 July 2014 (the “Second Amendment and Restatement Date”), as further amended and
restated on 22 May 2015 (the “Third Amendment and Restatement Date”) and as further amended by an amendment letter dated
                    2015 (the “Fourth Amendment Date”), between SILICON VALLEY BANK, a California corporation, through its
United Kingdom branch located at 41 Lothbury, London EC2R 7HF (“Bank”) and (i) MIMECAST SERVICES LIMITED (the “UK Borrower”), a company registered under the laws of England and

	 	
Wales under company number 04901524 whose registered office is at 6th Floor, Citypoint, One Ropemaker Street, London EC2Y 9AW, and (ii) MIMECAST NORTH AMERICA, INC. (the
“US Borrower”) a Delaware corporation with offices at 480 Pleasant Street, Watertown, MA, USA, 02472, USA (the UK Borrower and the US Borrower are jointly and severally liable and are hereinafter together referred to as
“Borrower” and each a “Borrower”), provides the terms on which Bank shall extend credit to Borrower and Borrower shall repay Bank. The parties agree as follows:”; 

 

	 	(b)	Clause 5.1 shall be amended by the addition of the following language at the end of that clause: “ The Jersey Obligor is a public company, duly incorporated and validly existing under the laws of Jersey and has
power to carry on its business as it is now being conducted and to own its property and other assets. The execution, delivery and performance of this Agreement and the other Loan Documents to which the Jersey Obligor is a party are within the
corporate powers of the Jersey Obligor and have been duly authorised by all necessary corporate and other action and do not and will not conflict with (i) any law or regulation applicable to it; (ii) the constitutional documents of the
Jersey Obligor; or (iii) any agreement or instrument binding on the Jersey Obligor. The Jersey Obligor is not in default under any agreement to which or by which it is bound in which the default would reasonably be expected to cause a Material
Adverse Change.” 

  

	 	(c)	Clause 6.7 (Financial Covenants) shall be deleted in its entirety and replaced with the following: 

  

	 	“6.7	Financial Covenants. 

  

	 	(a)	Recurring Revenue to Plan. 

  

	 	 	Borrower shall at all times prior to the occurrence of the IPO or the Equity Trigger Event maintain: 

  

	 	 	Quarterly Recurring Revenue for the quarterly periods set out in column A below of at least the minimum amount set out in column B below: 

 

			
	 A

Period
	  	B
Minimum Amount
	 the quarterly period ending on 30 June 2015
	  	$30,000,000
	 the quarterly period ending on 30 September 2015
	  	$30,500,000
	 the quarterly period ending on 31 December 2015
	  	$31,000,000
	 the quarterly period ending on 31 March 2016
	  	$32,000,000
	 the quarterly period ending on 30 June 2016
	  	$33,500,000
	 the quarterly period ending on 30 September 2016
	  	$35,000,000
	 the quarterly period ending on 31 December 2016
	  	$36,500,000
	 the quarterly period ending on 31 March 2017
	  	$37,000,000
	 each quarterly period thereafter ending on 30 September, 31 December, 31 March and 30 June in each year
	  	The $ figures agreed by the
Borrower and the Bank
pursuant to this Clause 6.7
(a)

  
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	 	 	If the IPO or the Equity Trigger Event have not occurred, Bank and Borrower shall discuss the minimum amounts of Quarterly Recurring Revenue to be maintained by Borrower for the test periods commencing on 31 March
2017 and continuing thereafter. Bank shall set (acting reasonably following such discussions) and Borrower shall agree such minimum amounts of Quarterly Recurring Revenue by no later than 30 June 2017. 

 

	 	 	The Advance Rate will be recalculated on each date that the financial covenant set out in this Clause 6.7 (a) is tested or if such financial covenant is no longer applicable then on each date the financial
information required under Clause 6.2 (c) is provided.” 

  

	 	(b)	Adjusted Quick Ratio. 

  

	 	 	Borrower shall maintain at all times an Adjusted Quick Ratio of at least 1.20 to 1.00 rising to 1.60:1 following (i) an IPO or (ii) the Equity Trigger Event, to be tested monthly. 

 

	 	(d)	A new clause 7.11 shall be added as follows: 

  

	 	 	“7.11 Restriction of Assets held in Jersey. Jersey Obligor will not keep any cash, Cash Equivalents or any other material asset (other than any Investment in any Subsidiary) in a jurisdiction other
than England & Wales.” 

  

	 	(e)	Clause 8.6 shall be deleted in its entirety and replaced with the following: 

  

	 	 	“Insolvency Proceedings” any of the following occurs in respect of Borrower or any Affiliate of Borrower (each of which shall be an “Insolvency Proceeding”): (i) any step is taken with a
view to a moratorium or a composition, assignment or similar arrangement with any of its creditors; (ii) a meeting of its shareholders, directors or other officers is convened for the purpose of considering any resolution for, to petition for
or to make an application to or to file documents with a court or any registrar for, its winding-up, administration, to obtain a declaration that its assets be “en desastre” or dissolution or any such resolution is passed; (iii) save
in the case of a solvent winding-up of an Affiliate of Borrower with the prior written approval of Bank, an order is made for its winding-up, its assets to be declared “en desastre”, administration or dissolution, or any Person presents a
petition, or makes an application to or files documents with a court or any registrar, for its winding-up, its assets to be declared “en desastre”, administration or dissolution, or gives notice to the Bank of an intention to appoint an
administrator (save for any winding-up petition in respect of UK Borrower which is frivolous or vexatious and which is discharged, stayed or dismissed within fourteen (14) days of commencement); (iv) any liquidator, receiver,
administrative receiver, administrator, Viscount of Jersey or similar officer is appointed in respect of it or any of its assets; (v) its shareholders, directors or other officers request the appointment of, or give notice of their intention to
appoint, a liquidator, receiver, administrator or similar officer; (vi) Borrower begins a US Insolvency Proceeding; or (vii) a US Insolvency Proceeding is begun against Borrower. 

  
 3 

	 	(f)	The final paragraph of clause 11 (Choice of Law) shall be deleted in its entirety and replaced with the following: 

  

	 	 	“Without prejudice to any other mode of service allowed under any relevant law, US Borrower and Jersey Obligor irrevocably appoints UK Borrower (at its registered address from time to time) as its agent for service
of process in relation to any proceedings before the English Courts in connection with any Loan Documents (and UK Borrower hereby confirms it accepts such appointment) and agrees that a failure by UK Borrower to notify US Borrower or Jersey Obligor
(as applicable) of any process will not invalidate the proceedings concerned.” 

  

	 	(g)	A new definition of “Equity Trigger Event” shall be added as follows: 

  

	 	 	“Equity Trigger Event” means any equity raising event of the Borrower or the Jersey Obligor where the Borrower or the Jersey Obligor raises $30,000,000 or more.” 

 

	 	(h)	A new definition of “Fourth Amendment Date” shall be added as follows: 

  

	 	 	“Fourth Amendment Date” is defined in the preamble to this Agreement.” 

  

	 	(i)	The definition of “Group” shall be deleted in its entirety and replaced with the following: 

  

	 	 	“Group” is Jersey Obligor and its Subsidiaries.” 

  

	 	(j)	The definition of “Guarantee” shall be deleted in its entirety and replaced with the following: 

  

	 	 	“Guarantee” is (i) the guarantee in the Agreed Form to be granted on or about the Effective Date by Mimecast Limited in favour of the Bank, (ii) the guarantee in the Agreed Form to be granted
on or about the Third Amendment and Restatement Date by Mimecast USD Limited in favour of the Bank, (iii) the guarantee in the Agreed Form to be granted on or about the Fourth Amendment Date by Jersey Obligor in favour of the Bank and
(iv) any other guarantee of the Obligations granted in favour of Bank from time to time, in each case as amended and/or restated, supplemented, varied or novated from time to time.” 

 

	 	(k)	The definition of “Guarantor” shall be deleted in its entirety and replaced with the following: 

  

	 	 	“Guarantor” is together or separately as the context may require, (i) Mimecast Limited, a company registered under the laws of England and Wales under company number 04698693 whose registered
office is at 6th Floor, Citypoint, One Ropemaker Street, London EC2Y 9AW, (ii) Mimecast USD Limited, a company registered under the laws of England and Wales under company number 09102524 whose registered office is at 6th Floor, Citypoint, One
Ropemaker Street, London EC2Y 9AW and (iii) Mimecast Limited, a company registered under the laws of Jersey with registration number 119119 whose registered office is at 22 Grenville Street, St Helier, Jersey JE4 8PX.” 

  
 4 

	 	(l)	The definition of “Guarantor Debenture” shall be deleted in its entirety and replaced with the following: 

  

	 	 	“Guarantor Debenture” is (i) the debenture in the Agreed Form to be executed on or about the Effective Date by Mimecast Limited in favour of the Bank, as amended and/or restated, supplemented,
varied or novated from time to time, (ii) the debenture in the Agreed Form to be executed on or about the Third Amendment and Restatement Date by Mimecast USD Limited in favour of the Bank, as amended and/or restated, supplemented, varied or
novated from time to time and (iii) the debenture in the Agreed Form to be executed on or about the Fourth Amendment Date by Jersey Obligor in favour of the Bank, as amended and/or restated, supplemented, varied or novated from time to time
..” 

  

	 	(m)	A new definition of “IPO” shall be added as follows: 

  

	 	 	“IPO” means the successful application and admission of all or any of the shares (of any class) in the capital of the Jersey Obligor, or securities representing such shares (including American
depositary receipts, American depositary shares and/or other instruments) to the Official List of the UK Listing Authority, the AIM Market operated by the London Stock Exchange plc, the NASDAQ Global Market, NASDAQ Global Select Market or the Nasdaq
Capital Market of the NASDAQ OMX Group Inc., the NYSE and The NYSE MKT of the New York Stock Exchange and, in each case their successors and any future public markets established by the London Stock Exchange plc, NYSE and NASDAQ OMX Group Inc. or to
any recognised investment exchange (as defined in section 285 of the Financial Services and Markets Act 2000);” 

  

	 	(n)	A new definition of “Jersey Obligor” shall be added as follows: 

  

	 	 	“Jersey Obligor” means Mimecast Limited, a company registered under the laws of Jersey with company number 119119 whose registered office is at 22 Grenville Street, St Helier, Jersey JE4 8PX.”

  

	 	(o)	The definition of “Material Change of Control” shall be deleted in its entirety and replaced with the following: 

  

	 	 	“Material Change of Control” means (a) with respect to any entity, a sale, assignment or other disposition by such entity of all or substantially all of its assets; (b) a sale, assignment or
other disposition, in a single transaction or series of related transactions, of a majority of the outstanding voting equity securities of an entity to an equity holder who was not an equity holder immediately prior to such transaction, or the
issuance by any entity, in a single transaction or series of related transactions, of voting equity securities constituting a majority of the total issued and outstanding voting equity securities of such entity immediately following the closing of
such transaction or series of related transactions to an equity holder who was not an equity holder immediately prior to such transaction; or (c) with respect to any entity, a merger or consolidation of such entity into or with another person
or entity (other than a merger effected solely for the purpose of changing such entity’s domicile) in which a majority of the outstanding voting equity securities of the surviving entity are held by an equity holder who was not an equity holder
immediately prior to such transaction;” 

  

	 	(p)	The definition of “Revolving Line Availability Amount” shall be deleted in its entirety and replaced with the following: 

  

	 	 	“Revolving Line Availability Amount” is (calculated in pounds Sterling): 

  
 5 

	 	(a)	Ten Million pounds Sterling (£10,000,000); 

  

	 	 	minus 

  

	 	(b)	the outstanding principal balance of any Revolving Advances.” 

  

	 	(q)	The definitions of “Term Loan Reserve Amount” and “Term Loan Reserve Period” shall be deleted in their entirety. 

 

	 	(r)	The definition of “UK Obligor” shall be amended to add the following additional words at the end of that definition: “(other than the Jersey Obligor)”. 

 

	 	Representations and Warranties 

  

	4.	The Obligors represent and warrant to the Bank that they have the power to enter into, have taken all necessary action to authorise the entry into of, and that they have duly entered into the agreement set out in this
letter. 

  

	5.	The Obligors represent and warrant to the Bank as at the date of this letter that all of the repeating representations contained in clause 5 (Representations and warranties) of the Loan Agreement (as amended by
this letter) and clause 4 (Representations and warranties) of the Guarantees (as appropriate) are true and accurate: 

  

	 	(a)	  as if repeated on the date of this letter with reference to the facts and circumstances subsisting on that date; and 

  

	 	(b)	as at the Effective Date with reference to the facts and circumstances subsisting on that date. 

 Conditions
Precedent 
  

	6.	Subject to paragraph 7, the Loan Agreement shall be amended as provided in paragraph 3 (Amendments to the Loan Agreement) upon the date (the “Effective Date”) on which we the Bank, or our
solicitors, Osborne Clarke, confirm to the Obligors or their solicitors that each of the conditions listed in the schedule to this letter have been satisfied or waived. 

 

	7.	The Effective Date shall be a Business Day on or before 13 November 2015. If the Effective Date shall not have occurred by close of business in London on that day (or such later date as all parties may agree), this
letter shall cease to have effect (unless the parties agree otherwise in writing) except for paragraph 9 (Confirmation). For the purposes of this paragraph 7, references in paragraph 9 (Confirmation) to “as amended by this
letter” shall be ignored. 

  

	8.	The conditions precedent referred to in paragraph 6 are for the benefit of the Bank and the Bank may accordingly waive all or any of them, unconditionally or on such conditions as it may in its sole discretion think
fit. That waiver shall not limit or restrict any other rights of the Bank in respect of the Loan Agreement. 

 Confirmation 

 

	9.	By countersigning this letter, each Obligor confirms that (to the extent applicable): 

  

	 	(a)	the Security Documents to which each Obligor is a party remain in full force and effect and continue to secure the obligations of the Obligors under the Loan Documents (including the Loan Agreement as amended by this
letter); and 

  
 6 

	 	(b)	all guarantees granted by the Obligors in favour of the Bank shall remain in full force and continue to guarantee the obligations of each Obligor under the Loan Documents (including the Loan Agreement as amended by this
letter). 

 Incorporation of Terms 
  

	10.	Save as amended as set out in paragraph 3, the terms of the Loan Agreement shall remain in full force and effect and the Loan Agreement and this letter shall be read and construed as one document. 

 

	11.	The provisions of clause 11 (Choice of Law) and clause 12 (General Provisions) of the Loan Agreement shall apply to this letter as if they were set out in full in this letter, but as if references to
“this Agreement” or “the Loan Documents” were references to this letter. 

 Fees and expenses 

 

	12.	The Obligors shall pay on demand and on a full indemnity basis all pre-agreed costs and expenses (including legal and out of pocket expenses and any value added tax thereon) incurred by the Bank in connection with the
negotiation, preparation and execution of this letter. 

 Miscellaneous 

 

	13.	This letter is a Loan Document. 

  

	14.	Please indicate your agreement to the foregoing by signing and returning to us an executed counterpart of this letter. 

Yours faithfully 
 /s/ illegible 

 
 For and on behalf of Silicon
Valley Bank 

  
 7 

 We hereby acknowledge receipt of this letter and confirm our acceptance of its terms and conditions. 

MSL 
 Executed as a Deed 

by Mimecast Services Limited 
 acting by 

/s/ Peter Campbell 
  

Director Peter Campbell 
 /s/ Michelle L. Anzivino 

 
 Witness: 

Witness Name: Michelle Anzivino 
 Witness address: 

Witness occupation: Executive Assistant 
 MNA 

Signed by Mimecast North America, Inc. 
 /s/ Peter
Campbell 
  
 Signature 

Name: Peter Campbell 
 Title: Chief Financial Officer 

  
 8 

 ML England 

Executed as a Deed 
 by Mimecast Limited 

acting by 
 /s/ Peter Campbell 

 
 Director Peter Campbell 

/s/ Michelle L. Anzivino 
  

Witness: 
 Witness Name: Michelle Anzivino 

Witness address: 
 Witness occupation: Executive Assistant 

MUSD 
 Executed as a Deed 

by Mimecast USD Limited 
 acting by 

/s/ Peter Campbell 
  

Director Peter Campbell 
 /s/ Michelle L. Anzivino 

 
 Witness: 

Witness Name: Michelle L. Anzivino 
 Witness address: 

Witness occupation: Executive Assistant 

  
 9 

 ML Jersey 

Executed as a Deed 
 by Mimecast Limited 

acting by 
 /s/ Peter Campbell 

 
 Director Peter Campbell 

/s/ Michelle L. Anzivino 
  

 
 Witness: 

Witness Name: Michelle L. Anzivino 
 Witness address: 

Witness occupation: Executive Assistant 

  
 10 

 Schedule 

Conditions Precedent 
  

	1.	A Guarantee and Guarantor Debenture duly executed by Jersey Obligor. 

  

	2.	A certified copy group structure chart. 

  

	3.	A certificate from a duly authorised director of the UK Borrower that the memorandum and articles of association of the UK Borrower delivered in relation to the Original Loan Agreement remain true, complete and
up-to-date or that the only changes to them are fully set out in copy documents attached to the certificate. 

  

	4.	A copy, certified a true copy by a duly authorised director of the UK Borrower, of the minutes of a meeting or written resolutions (or an extract of such minutes or written resolutions) of the Board of Directors of the
UK Borrower satisfactory to the Bank approving the execution, delivery and performance of this Amendment Agreement and approving the terms and conditions of this Amendment Agreement and authorising a named person or persons or appointing an attorney
to sign on behalf of the UK Borrower this Amendment Agreement and any documents or further agreements to be delivered by the UK Borrower pursuant to this Amendment Agreement. 

 

	5.	Save to the extent previously supplied to the Bank a specimen signature of each person referred to in paragraph 4 above. 

  

	6.	A certificate from a duly authorised director of each Guarantor either (i) confirming that the memorandum and articles of association of the Guarantor delivered in relation to the Original Loan Agreement remain
true, complete and up-to-date or that the only changes to them are fully set out in copy documents attached to the certificate or (ii) attaching copies of the true, complete and up-to-date memorandum and articles of association of the Guarantor

  

	7.	A copy, certified a true copy by a duly authorised director of each Guarantor, of the minutes of a meeting or written resolutions (or an extract of such minutes or written resolutions) of the Board of Directors (or a
committee thereof) of such Guarantor satisfactory to the Bank approving the execution of this Amendment Agreement and the documents referenced herein by such Guarantor, approving the terms and conditions of such documents and authorising a named
person or persons or appointing an attorney to sign on behalf of the Guarantor such documents. 

  

	8.	Save to the extent previously supplied to the Bank a specimen signature of each person referred to in paragraph 7 above. 

  

	9.	A Jersey legal opinion from Walkers. 

  

	10.	A Perfection Certificate for ML Jersey. 

  

	11.	UCC lien searches for ML Jersey. 

  

	12.	The payment of the arrangement fees and costs and expenses referred to in paragraph 12 of this Amendment Agreement. 

  

	13.	A copy of any other authorisation or other document, opinion or assurance which the Bank considers to be necessary in connection with the entry into and performance of this Amendment Agreement or for the validity or
enforceability of this Amendment Agreement. 

  
 11

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