Document:

Abtretung von AuBenstander, Assignment of Receivables

 Exhibit 10.14 

 

					
	

		 		 	Tax ID No. DE 127504902
	Assignment of Outstanding Debts	 		 	
	(Global Assignment)	 	Ref. No. KAg/G3/CH/ES	 	
		 	Place, date: Augsburg, July 29, 2011	 	

 To secure all claims arising from the bank-related business relations according to No. 2, 

Prometal RCT GmbH 
 Am Mittleren Moos
41 
 86167 Augsburg 
  

	•	 	 hereinafter referred to as the Transferor, transfers to the Sparkasse claims owed currently and in the future arising from the delivery of goods and
services as well as from 

 — 
 Against all customers or debtors whose letters begin with 
 A to Z 

 

	•	 	 hereinafter referred to as third-party debtors. They are described in greater detail under No. 1.1. 

1. Transferred claims 
 1.1
Information regarding the transferred claims 
 The transfer pertains to the claims that arose from the Transferor’s business activities
or will arise from these in the future. With the claims, all ancillary claims, including any interest in arrears, shall be transferred. If the collateral provider instructs a third party to collects its claims in its name, it shall hereby also
transfer to the Sparkasse the possession recovery rights and payment claims to which it is entitled arising from these. If a claim included in the transfer cannot be executed in whole or in part as a result of a third-party debtor’s complaints,
the transfer shall also include any of the Transferor’s warranty claims against its contractor. 
 To determine the starting letter of
individual persons or companies that contain one or more family names, the first letter of the first family name is authoritative. In the other cases, it shall be the first letter of the company name. 

1.2 Claims in the current account 

Should a transferred claim between the Transferor and the third-party debtor have to be placed in a current account (real or so-called non-real current
account), then the claims from drawn and future balances shall also be transferred. Also transferred is the right to terminate the current account and determining the balance. 
 2. Purpose of collateral 
 The claims shall serve as collateral for all existing and future,
including conditional or time-limited, claims of the Sparkasse against 
 Prometal RCT GmbH, Am Mittleren Moos 41, 86167 Augsburg 

 

	 	•	 	 hereinafter referred to as Borrower – from its bank-related business relations (especially from current account, credits, and loans of all
types including any legal claims and bills of exchange). They shall also cover claims against the Borrower from bills of exchange, even if they are submitted by third parties, from transfers or legal transfers of claim and from sureties, which have
been taken over by the Borrower in relation to the Sparkasse, effective on their due dates, to the extent that the Sparkasse acquires these claims within the scope of its bank-related business relations with the Borrower.

 3 Inventory 
 3.1 The Transferor shall send to the Sparkasse1 
 on a semi-annual basis

 and unbidden an inventory of the aforementioned claims, and initially upon signing this Contract. The Sparkasse may also request an inventory
in shorter time intervals. The inventory must provide the names and addresses of third-party debtors, the amount of the claim, the invoice date as well as any due dates. Current account claims shall be explicitly marked in the inventories. Upon
request, the existence of claims shall be verified by the submission of invoice copies or other documents. The scope of the claim transfer shall not be impaired by an incomplete inventory. 
 3.2 The Transferor shall ensure for all claims listed in the inventory according to No. 3.1 that they rightly exist and are neither distrained, pledged, or otherwise transferred (with the
exception of transfers due to the Contractor’s extended right to title retention). 
 4 Special agreements 

 

	1	 Here the time interval shall be entered. 

[Left margin, center: Copy for the Transferor] 

[Left margin, bottom: form publication information] 

 Page 2, Column 1 
 5 Transfer of claims 
 5.1 The current claims shall be transferred to the Sparkasse
upon signing this Contract; future ones shall be transferred once they are created. 
 5.2 Claims that are subject to the extended right
of title retention of a Transferor’s contractor shall be transferred to the Sparkasse at the time in which they are no longer included in the extended retention of title. To the extent that claims are only partly included in an extended
retention of title, the transfer to the Sparkasse shall initially extend to the claimed portion to which the Transferor is entitled; the portion subject to the extended retention of title is considered transferred at the time it is no longer subject
to the extended retention of title. The Transferor shall hereby transfer its claims for retransfer (release) of the claims directed against the contractor to the Sparkasse. 
 6 Collateral rights/insurance 
 6.1 Besides the claims, all collateral liable in
their regard as well as rights stemming from underlying legal transactions, unless otherwise stipulated by law (§ 401 BGB (German Civil Code)), shall be transferred to the Sparkasse. These include collateral ownership and reserved ownership. In
doing so, the transfer is replaced by the assignment of claims upon issuance of the goods. If other collateral exists, the Sparkasse may demand its transfer. 
 6.2 If a transferred claim is insured or if it is insured at a later point, the transfer shall also include the insurance claims. The Transferor shall hand over to the Sparkasse notices of transfer
upon request. The Sparkasse may announce the transfer to the credit insurer at any time. 
 7 Supplementary collateral requirement

 If the Transferor is also the Borrower, the Sparkasse may request it to furnish or increase collateral for its loan liabilities if there
is a change in the risk situation due to subsequently occurring or known circumstances. These circumstances can include, e.g., a deterioration or pending deterioration of the economic situation of the Transferor, a jointly liable party, or
guarantor, or the value of the existing collateral. 
 8 Other duties of the Transferor 

The Transferor shall: 
 8.1 Notify the
Sparkasse upon its request, what claims listed in the inventory according to No. 3 were transferred, due to extended retention of title, by the contractors to it, in whose claims the transfer is barred or requires the express consent of the
third-party debtor. In addition, the Transferor shall indicate upon request whether third-party debtors are entitled to the offsetting of appropriate counterclaims and, if applicable, which ones; 

 8.2 Present to the Sparkasse, a trustee designated by it, or its responsible audit firm, at any time
upon request, its books, balance sheets, financial statements, and business documents or grant examination and auditing of these procedures, provide any requested information, and enable its operations to be visited. 

8.3 Avoid any measure by means of which third parties that are legally or financially interested in the claims are unaware of the Sparkasse’s
creditor position, and to Promptly notify the Sparkasse if the transferred claims or the transferred collateral rights are distrained by a third party, and to notify the distraining third party of the transfer or assignment of rights; 

8.4 Undertake disposition of the claims, for example within the scope of factoring transactions, only with the express consent of the Sparkasse;

 8.5 Monitor, by itself and within the scope of its capabilities, the maintaining and safeguarding of all claims transferred to the
Sparkasse or the assigned collateral rights and to inform the Sparkasse accordingly. 
 Page 2, column 2 

9 Collection right of Transferor 
 9.1
As long as the Sparkasse does not exercise its rights regarding disclosure and utilization, the Transferor shall be entitled and required to collect the transferred claims within the scope of a proper business operation. The Transferor’s
collection right shall expire no later than when revoked by the Sparkasse. Regardless of other expiration reasons, the collection right shall always expire when the Transferor has requested legal insolvency proceedings regarding its assets.

 9.2 If the counter-value of a transferred claim – in its full amount or in partial amounts in cash or in another form, e.g., in
checks or bills of exchange – is received directly by the Transferor, it shall promptly notify the Sparkasse upon its request about such receipt by providing precise disclosure about the claim to which the counter-value is allotted. 

9.3 For payment toward claims transferred to the Sparkasse by means of checks or cash, ownership of the check or cash shall go to the Sparkasse as
soon as the Transferor acquires it. If payments are made by bills of exchange, the Transferor shall assign the rights hereunder to in advance to the Sparkasse for security’s sake. The assignment of cash, checks, and bills of exchange shall
initially be replaced by the Transferor safekeeping the money or papers for the Sparkasse. The Transferor shall furnish checks and bills of exchange with an endorsement and deliver these and cash promptly to the Sparkasse. 

 10 Disclosure and utilization 
 10.1 The Transferor shall assign notices of assignment to the Sparkasse upon request. The Sparkasse shall initially not disclose the transfer; however, it is entitled to do subject to the following
conditions. The Transferor shall, after it makes such a disclosure, hold third party debtors to make payments to the Sparkasse. 
 10.2
The Sparkasse is entitled to disclose and utilize claims transferred to it and the collateral rights when 
  

	•	 	 Its secured claims are due and the Borrower is in arrears with its payments or 

 

	•	 	 The Borrower has ceased making payments or 

  

	•	 	 Court-ordered insolvency proceedings have been requested over its assets. 

 10.3 The Sparkasse shall issue a prior warning regarding disclosure and utilization with an appropriate grace period to the extent this is not inappropriate. This period shall be of such a duration
that it enables the Transferor to present objections as well as to attempt to pay the owed amounts to avert utilization. To the extent the present contract represents a business transaction according to the HGB (German Commercial Code) for the
Transferor, the period shall in principle amount to one week. Otherwise, it shall amount to four weeks. 
 Setting a grace period is not
required if the Transferor has discontinued its payments or a request was filed to open court-ordered insolvency proceedings on its assets. 

10.4 The Sparkasse may utilize, at its equitable discretion, the transferred claims and security interests in other ways other than collection or
utilization, especially to use the transferred goods without restriction or take over itself such goods subject to assessing an appropriate price, and thereby satisfy its claims. There is no stipulation of immediate cash payment of the purchase
price. In the event of collection and without first asking the Transferor, the Sparkasse may take all measures and make agreements with third-party debtors that it deems necessary to collect the claims, especially granting deferments or rebates and
negotiating settlements. 
 10.5 When several security interests exist, the Sparkasse has voting rights. In selecting and utilizing them,
the Sparkasse shall take appropriate consideration of the interests to which the Transferor is entitled. For sales tax reasons, the Sparkasse is entitled to settle a delivery that falls under utilization by means of a credit note. The Transferor
shall state its agreement hereto. 
 10.6 If the proceeds from the assignment are not sufficient to satisfy all claims secured by the
transfer, these shall be settled according to the Sparkasse’s equitable discretion. 

 Page 3, column 1 
 11 Release of collateral 
 11.1 The Sparkasse is required to release its rights
arising from the transfer of claims as soon as its claims against the Borrower are fulfilled. 
 It is required, beforehand and upon request, to
release claims arising from this assignment at its discretion when and to what extent the realizable value of the transferred claims as well as all other collateral exceeds 110 percent of all secured claims of the Sparkasse not only in the short
term. The coverage of 110 percent increases by the respective current sales tax rate if the Sparkasse is required to pay the sales tax from sales revenues. 
 When determining the realizable value and based on the nominal value, claims shall not be taken into account 
  

	•	 	 That have not transferred over to the Sparkasse (e.g., in the event of extended retention of title) or 

 

	•	 	 That are distrained by third parties or pledged to third parties if the third-party rights have priority, or 

 

	•	 	 When, there are opposing claims of third-party debtors suitable for offsetting purposes, or 

Page 3, column 2 
  

	•	 	 In which a defect-related warranty is asserted, however only in the amount of the warranty claim, or 

 

	•	 	 That are directed against third-party debtors with head offices located abroad. 

In addition, when it comes to determining the realizable value, an appropriate safety margin shall be used due to any bad debt losses. 

The Sparkasse may also fulfill the release obligation by releasing other collateral of a corresponding scope. 

11.2 If the Transferor itself is the Borrower, the Sparkasse, if it is satisfied by a guarantor or other third party, shall transfer its rights to
them unless claims of others are proven. 
 12 General Terms and Conditions 

It is expressly pointed out that additionally the General Terms and Conditions (AGB) of the Sparkasse are an integral component of
the contract. The AGB may be viewed in the counter halls of the Sparkasse.2 
 The contract and duplication shall be signed by all Transferors listed on page! 

 Enclosure(s) 
  

							
	Place, date (if different than on page 1)	 	Company and signature(s) of Transferor
				
	Augsburg,
                            	 		 	[signed]	 	    by proxy [signed]
		 	Prometal RCT GmbH	 	
	Legitimation/identification	 		 	
	 ̈ 1. Person known and already legitimized by account
                    	 	 

	 	
	Verified by  ̈ personal ID /  ̈ passport	 	 	
	No.
                             valid until
                            	 	 	
	Issued by
                                         
   	 	 	
	Citizenship
                                         
   	 	 	
	Place of birth
                                         
   	 	 	Aug. 4, 2011
	 ̈ 2. Person known and already legitimized by account
                    	 		 	
	Verified by  ̈ personal ID /  ̈ passport	 		 	
	No.
                             valid until
                            	 		 	
	Issued by
                                         
   	 		 	
	Citizenship
                                         
   	 		 	
	Place of birth
                                         
   	 	For the Sparkasse (with date if different)
		 		 	  
 

	 	
	Legitimacy and correctness of signature(s) checked:	 	Signature of processing individual (with employee ID no.)	 		 	July 29, 2011

  

	2 	 Every one of the Sparkasse’s contractual partners shall receive a copy of the AGB if no business relations yet exist and the contract is signed
outside of the Sparkasse. 

					
	

	 	Lending Business	 	Stadtsparkasse Augsburg
		 	Payment Clause	 	

 Agreement regarding the Assignment Contract dated July 29, 2011 

 

	Between:	Prometal RCT GmbH, Am Mittleren Moos 41, 86167 Augsburg 

	 	(hereinafter referred to as Transferor) 

  

	And:	Stadtsparkasse Augsburg 

  

	1.	Obligation 

 The
Transferor shall instruct the third-party debtor to pay solely to an account designated by the Stadtsparkasse Augsburg: 
 Acct.
no.: 250491743 at Stadtsparkasse Augsburg, ABA 720 500 00 
 Acct. holder: Prometal RCT GmbH 

 

	2.	Authorization 

 In
addition, the Transferor shall grant the irrevocable authorization for the Stadtsparkasse Augsburg to be able to instruct the third-party debtor to make payments solely into an account as designated by the Stadtsparkasse Augsburg: 

Acct. no.: 250491743 at Stadtsparkasse Augsburg, ABA 720 500 00 
 Acct. holder: Prometal RCT GmbH 
  

									
		 	Augsburg, Aug. 4, 2011	 		 	Augsburg, July 29, 2011	 	
					
		 	[signed] by proxy [signed]	 		 	[signed]	 	[signed]
		 	Transferor	 		 	Stadtsparkasse Augsburg	 	
		 		 		 	Christoph Hennig	 	Elisa Schad

  

					
	 Legitimation/identification
  ̈ 1. Person known and already legitimized by account
                    
 Verified by  ̈ personal ID /  ̈ passport
 No.
                             valid until
                            
 Issued by
                                        

  ̈ 2. Person known and already legitimized by account
                    
 Verified by  ̈ personal ID /  ̈ passport
 No.
                             valid until
                            
 Issued by
                                        

	  	
			
	Legitimacy and correctness of signature(s) checked:	  	Signature of processing individual (with employee ID no.)Revolving Demand Note

 Exhibit 10.15 
 REVOLVING DEMAND NOTE 
  

			
	January 1, 2012	  	Pittsburgh, Pennsylvania

 FOR VALUE RECEIVED, THE EX ONE COMPANY, LLC, a Delaware limited liability company (the
“Borrower”), promises to pay to ROCKWELL FOREST PRODUCTS, INC., a Pennsylvania corporation (the “Lender”) the aggregate unpaid principal amount of all Advances (as hereinafter defined) made by Lender to Borrower hereunder,
together with interest accrued thereon from the date each Advance is made until paid in full, at an annual interest rate of eight percent (8%) (the “Interest Rate”). The aggregate unpaid principal amount of all Advances, together with
accrued but unpaid interest and all other sums owing to Lender from Borrower hereunder, may be referred to herein as the “Indebtedness.” 
 1. Revolving Demand Note. This Revolving Demand Note (this “Note”) establishes a line of credit upon which Borrower may borrow, wholly or partially repay, and reborrow for the period
beginning on the date of this Note and continuing until the earlier of (i) December 31, 2020 (the “Maturity Date”), (ii) the date on which Lender demands payment-in-full of the Indebtedness, or (iii) the occurrence of
an Event of Default. 
 2. Request for Advances. Advances of funds hereunder (each, an “Advance”) may be
requested by written request from Borrower to Lender, or by such other means Lender may authorize from time to time, and Lender shall have five (5) business days in which to fund any requested Advance to Borrower. The maximum amount credit
available to Borrower is unlimited. Lender shall have no obligation to make any Advance hereunder so long as any Event of Default is ongoing. 
 3. Interest Rate. Interest shall accrue on each Advance at the Interest Rate, beginning on the day on which the Advance is made. Interest on Advances and any other sums payable hereunder shall be
computed on the basis of 365-day year or, as applicable, 366-day year, and charged for the actual number of days elapsed. 

4. Maturity Date; Demand; Pre-Payment. The Indebtedness shall be due and payable to Lender on the earlier to occur of (i) the
Maturity Date, and (ii) the date that is thirty (30) days following written demand therefor by Lender. If any payment comes due on a day that is not a Business Day, Borrower may make the payment on the first Business Day following the
payment date and pay the additional interest accrued to the date of payment. “Business Day” means any day other than a Saturday, Sunday, public holiday, or any other day on which banking institutions are not open for business. Borrower may
pre-pay all or any part of the Indebtedness at any time from time to time, without penalty or premium 
 5. Manner and
Application of Payments. Borrower shall make all payments to Lender required or permitted under this Note by wire transfer to an account to be designated by Lender in writing not less than three (3) days prior to the date on which payment
is due, or at such other place and such other manner as Lender may designate. All payments received hereunder shall be applied as follows: first, to any costs or expenses incurred by Lender in collecting such payment or to any other unpaid charges
or expenses due hereunder; second, to accrued but unpaid interest; and third, to principal. The sum or sums shown on Lender’s records shall be evidence of the correct unpaid balances of principal and interest on this Note, absent manifest
error. 
 6. Event of Default. Borrower shall be in default hereunder if Borrower shall fail to pay any amount of
principal, interest, or any other sums due hereunder, when the same is due and payable, or (b) Lender determines, in Lender’s reasonable discretion, that the prospect of payment under this Note has been materially impaired or that the
Lender is insecure (either such event, an “Event of Default”). 
 7. Default Rate. Upon the occurrence of an
Event of Default and for so long as it is ongoing, the unpaid balance of outstanding Advances, accrued interest thereon, and any other amounts payable hereunder shall bear interest at annual rate equal to the Interest Rate plus six percent (6%).

  
 1 

 8. Payment of Fees and Expenses. Borrower agrees to pay, upon demand, costs of
collection of all amounts due under this Note, including, without limitation, principal, interest and fees, or in connection with the enforcement of, or realization on, any security for this Note, including reasonable attorneys’ fees and
expenses. 
 9. Governing Law. This Note and the rights and obligations of the parties hereto shall be governed,
construed, and interpreted in accordance with the laws of the Commonwealth of Pennsylvania, without giving effect to principles of conflicts of law. This Note shall be deemed made and entered into in Allegheny County, Commonwealth of Pennsylvania,
and venue for any proceeding or action in connection with this Note shall be in Allegheny County, Pennsylvania. 
 10. General
Provisions. 
 (a) Borrower waives presentment, demand, notice, protest and all other demands and
notices in connection with delivery, acceptance, performance or enforcement of this Note, excepting only demand for payment made by Lender when no Event of Default is ongoing. 

(b) This Note contains the entire agreement between Lender and Borrower with respect to the subject matter hereof,
and supersedes any other understanding or agreement, whether written or oral, between Lender and Borrower with respect to the subject matter hereof. 
 (c) Borrower agrees that in any legal proceeding, a copy of this Note kept in Lender’s course of business may be admitted into evidence as an original. 

(d) This Note is a binding obligation enforceable against Borrower and its permitted successors and assigns, and
shall inure to the benefit of Lender and its successors and assigns. 
 (e) If any court of competent
jurisdiction deems any provision of this Note to be invalid, the remainder of the Note shall remain in effect. 

(f) No failure by the holder hereof to exercise, and no delay in exercising, any right or remedy hereunder shall
operate as a waiver thereof, nor shall any single or partial exercise by such holder of any right or remedy hereunder preclude any other or further exercise thereof or the exercise of any other right or remedy. The rights and remedies of the holder
hereof as herein specified are cumulative and not exclusive of any other rights or remedies which such holder may otherwise have. 
 (g) All notices, demands, or other communications required or permitted by this Note shall be made in writing and shall deemed to have been duly given on the date of service, if served personally,
or within five (5) business days if mailed by first-class mail, registered, or certified, postage prepaid and properly addressed to the parties’ respective principal office addresses, or such other addresses as they parties may designate
in writing from time to time. 
 IN WITNESS WHEREOF, and intending to be legally bound hereby, Borrower has executed this
Revolving Demand Note effective as of the day and year first above written. 
  

			
	 THE EX ONE COMPANY, LLC,
 a Delaware limited liability company

		
	By:	 	        /s/ S. Kent Rockwell
		 	S. Kent Rockwell, Manager

  
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