Document:

Exhibit 10.4

 

Agreement

 

Agreement, dated December 24, 2019, between
Bespoke Extracts, Inc. (the “Company”) and Yad Zahav LLC, a New York limited liability company (the “Holder”).

 

WHEREAS, on or about
November 11, 2019, the Company issued to the Holder an amended and restated original issue discount convertible debenture, in the
principal amount of $200,000 (the “Debenture”);

 

WHEREAS, the Company
and the Holder desire to have the Company pay $120,000 to the Holder, and transfer certain assets to the Holder, and for the Debenture
to be deemed repaid in full upon such payment and transfer, subject to the terms and conditions of this Agreement;

 

WHEREFORE, the parties
hereby agree as follows:

 

1.Substantially
concurrently with the execution of this Agreement, the Company shall (i) pay to the Holder $120,000 by check or wire transfer of
immediately available funds, and (ii) take any actions reasonably necessary (including, without limitation, such actions as reasonably
requested by Holder) to transfer to the Holder all right, title and interest in and to the URLs set forth on Schedule A hereto
(the “URLs”). Without limiting the generality of the foregoing, substantially concurrently with this Agreement, the
Company shall execute and deliver the bill of sale attached as Exhibit B hereto (the “Bill of Sale”).

 

2.The
Company represents and warrants to the Holder that it owns the URLs free and clear of any liens.

 

3.Effective
upon the Company’s payment of $120,000 and execution and delivery of this Agreement and the Bill of Sale, the Debenture and
all obligations thereunder (including, without limitation, all principal and interest thereon) will be deemed paid and satisfied
in full.

 

4.This Agreement constitutes
the entire agreement and supersedes all other prior and contemporaneous agreements and undertakings, both written and oral, among
the parties hereto with regard to the subject matter hereof.

 

5.This Agreement shall
be governed by and construed in accordance with the internal laws of the State of New York. Holder and Company hereby irrevocably
submit to the exclusive jurisdiction of any federal or state court located within the County of New York over any dispute relating
to this Agreement and Company and Holder each hereby irrevocably agree that all claims in respect of such dispute or any suit,
action or proceeding related thereto may be heard and determined in such courts.

 

6.This Agreement may
be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and shall be binding
upon all parties, their successors and assigns, and all of which taken together shall constitute one and the same Agreement. A
signature delivered by facsimile or email shall constitute an original.

 

[Signature Page Follows]

 

     

     

    

  

IN WITNESS WHEREOF,
the parties have duly executed this Agreement as of the date first indicated above.

 

	BESPOKE EXTRACTS, INC.	 
	 	 	 
	By:	/s/ Niquana Noel	 
	Name:	Niquana Noel	 
	Title:	Chief Executive Officer	 

 

	YAD ZAVAV LLC	 
	 	 
	By:	/s/ Ahron Gold	 
	Name:	Ahron Gold	 
	Title:	Managing Member	 

 

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Exhibit A

 

URLs:

 

anxietyCBD.com

bulkCBD.com

wholesaleCBD.com

herCBD.com

periodCBD.com

epilepsyCBD.com

CBDgummies.com

CBDrub.com

 

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Exhibit B

 

Form of Bill of Sale

 

For good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, Bespoke Extracts, Inc., a Nevada corporation (the “Company”),
does hereby grant, bargain, transfer, sell, assign, convey and deliver to Yad Zahav LLC, a New York limited liability company (the
“Holder”), all of its right, title, and interest in and to the URLs, as such term is defined in the agreement, dated
on or about the date hereof, by and between the Company and the Holder (the “Agreement”), to have and to hold the same
unto Holder, its successors and assigns, forever.

 

Holder acknowledges
that the Company makes no representation or warranty with respect to the assets being conveyed hereby except as specifically set
forth in the Agreement.

 

The Company for
itself, its successors and assigns, hereby covenants and agrees that, at any time and from time to time upon the written request
of Holder, Company will do, execute, acknowledge, and deliver or cause to be done, executed, acknowledged, and delivered, all such
further acts, deeds, assignments, transfers, conveyances, powers of attorney, and assurances as may be reasonably required by Holder
in order to assign, transfer, set over, convey, assure, and confirm unto and vest in Holder, its successors and assigns, title
to the assets sold, conveyed, and transferred by this Bill of Sale.

 

IN WITNESS WHEREOF, the Company has
duly executed this Bill of Sale as of December __, 2019.

 

	 	Bespoke Extracts, Inc.
	 	 
	 	By	 
	 	Name:	Niquana Noel
	 	Title:	Chief Executive Officer

 

 

4Exhibit 10.1

 

Humanigen, Inc.

533 Aiport Blvd., Suite 400

Burlingame, CA 94010

 

December 30, 2019

 

 

[Lender’s Name and Address]

 

		Re:	Amendment Number 2 to Secured Bridge Note

 

Dear [Name of Officer of Lender]:

 

Reference is made to the Secured Bridge
Note (the “Note”), dated as of June 28, 2019 and as amended on October 8, 2019, by and between Humanigen, Inc. (the
“Borrower”) and [Lender’s Name] (the “Lender”), pursuant to which the Lender loaned to the
Borrower the original principal amount of $[Amount of Loan]. Capitalized terms used but not defined herein have the meanings given
to them in the Note.

 

Pursuant to our prior discussions, the
Borrower desires to amend the Note to extend the Maturity Date from December 31, 2019 to March 31, 2020 and the Lender agrees with
this Amendment.

 

Additionally, the Lender expressly agrees
to waive any prior default up to and including the date of this Amendment.

 

Further Lender and Borrower hereby agree
as follows:

 

1.       Except
as specifically provided in this amendment and as the context of this amendment otherwise may require to give effect to the intent
and purposes of this amendment, the Note shall remain in full force and effect without any other amendments or modifications.

 

2.       This
amendment may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement.
In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data
file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed)
with the same force and effect as if such facsimile or “.pdf” signature page were an original thereof.

 

3.       This
amendment shall be governed by, and construed and enforced in accordance with, the internal laws of the State of Delaware, without
regard to the principles of conflicts of law thereof.

 

 

[Signature Page Follows]

 

    	 	 	 

    	 	 

    

 

	 	Very truly yours,
	 	 	 
	 	HUMANIGEN, INC.
	 	 	 
	 	 	 
	 	 	 
	 	By:	 
	 	Name:  	[Name of Authorized Person of Humanigen, Inc.]
	 	Title:   	[Title of Authorized Person of Humanigen, Inc.]

 

ACKNOWLEDGED AND AGREED:

 

[Name of Lender]

  

 

 

	By:  	 	 
	Name:  	[Name of Officer of Lender]	 
	Title: 	[Title of Officer of Lender]vray-ex101_16.htm

Exhibit 10.1

 

 

FIRST Amendment

to 

Loan and security agreement

 

This First Amendment to Loan and Security Agreement (this “Amendment”) is entered into this 31st day of December, 2019, by and among (i) Silicon Valley Bank (“Bank”), (ii) VIEWRAY, INC., a Delaware corporation (“Viewray”), and (iii) VIEWRAY TECHNOLOGIES, INC., a Delaware corporation (“Technologies”, and together with Viewray, individually and collectively, jointly and severally, the “Borrower”).

Recitals

A.Bank and Borrower have entered into that certain Loan and Security Agreement dated as of December 28, 2018, by and among Bank and Borrower (as the same may from time to time be further amended, modified, supplemented or restated, the “Loan Agreement”).  

B.Bank has extended credit to Borrower under and for the purposes permitted in the Loan Agreement.  

C.Borrower has requested that Bank amend the Loan Agreement to (i) suspend the minimum revenue financial covenant testing for the quarterly period ending December 31, 2019; (ii) modify the Liquidity Ratio financial covenant; and (iii) make certain other revisions to the Loan Agreement as more fully set forth herein.

D.Bank has agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below.

Agreement

Now, Therefore, in consideration of the foregoing recitals and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:

1.Definitions.  Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan Agreement.

2.Amendments to Loan Agreement.

 

2.1Section 1 (Accounting and Other Terms).  The heading of Section 1 is amended in its entirety and replaced with “Accounting, Divisions and Other Terms” and Section 1 is amended by inserting the following text as a new paragraph at the end thereof:

“For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person 

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becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its equity interests at such time.”

 

2.2Section 2.3 (Fees).  Subsection (b) of Section 2.3 is amended in its entirety and replaced with the following:

“(b)Prepayment Premium.  Upon repayment of the Term Loan for any reason prior to the Term Loan Maturity Date, in addition to the payment of any other amounts then-owing, a prepayment premium (the “Prepayment Premium”) in an amount equal to two percent (2.00%) of the funded amount of the Term Loan (i.e. One Million One Hundred Twenty Thousand Dollars ($1,120,000.00); provided that no Prepayment Premium shall be charged if, so long as no Event of Default has occurred and is continuing, the credit facility hereunder is replaced with a new facility from Bank; and”

 

2.3Section 6.2 (Financial Statements, Reports, Certificates).  Subsection (b) of Section 6.2 is amended in its entirety and replaced with the following:

“(b)AR/AP Agings. Weekly, on the last Business Day of each week, aged listings of accounts receivable and accounts payable (aged by invoice date) (collectively, the “Agings Reports”); provided, that in the event Borrower has maintained a Liquidity Ratio equal to or greater than 2.25:1.00 at all times during a calendar month, such Agings Reports will only be due monthly within thirty (30) days after the last day of such month;”

 

2.4Section 6.7 (Financial Covenants).  Subsection (a) of Section 6.7 is amended in its entirety and replaced with the following:

“(a)Liquidity Ratio.  For any monthly period in which the Borrower has failed to maintain the Minimum Balance for any day in such month, Borrower shall maintain at all times, to be certified by Borrower as of the last day of each calendar month, a Liquidity Ratio equal to or greater than 1.75:1.00.”

 

2.5Section 6.7 (Financial Covenants).  The first and final paragraph of subsection (b) of Section 6.7 are amended in their entirety and replaced with the following:

“(b)Revenue.  For any fiscal quarter (other than the fiscal quarter ending December 31, 2019) in which the Borrower has failed to maintain the Minimum Balance for any day in such fiscal quarter AND Borrower has maintained a Liquidity Ratio less than 2.25:1.00 on any day in such fiscal quarter, Borrower shall achieve revenue, measured in accordance with GAAP on a trailing twelve month basis as of the last day of such fiscal quarter, of at least the following:

 

 

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Minimum revenue financial covenant requirements for the fiscal quarters in subsequent fiscal years will be determined by Bank annually, on or before March 31 of each such fiscal year, at the greater of (i) a twenty-five percent (25.0%) cushion to the revenue forecasts contained in the projections for each such fiscal year provided by Borrower to Bank in accordance with Section 6.2(e), and (ii) ten  percent (10.0%) year-over year annual growth for each corresponding quarterly test period,  unless the Borrower and the Bank shall otherwise agree in writing.” 

 

2.6Section 10 (Notices).  The notice address of the Bank’s counsel is amended in its entirety and replaced with the following:

“with a copy to:Morrison & Foerster LLP
200 Clarendon Street, Floor 20
Boston, Massachusetts 02116
Attn:Charles W. Stavros, Esquire
Email:cstavros@mofo.com”

 

The notice address of the Borrower’s counsel is amended in its entirety and replaced with the following:

 

“with copies to:Cravath, Swaine & Moore LLP

825 Eighth Avenue

New York, NY 10019

Attn: Minh Van Ngo

Email: mngo@cravath.com

 

Cravath, Swaine & Moore LLP

825 Eighth Avenue

New York, NY 10019

Attn: Sasha Rosenthal-Larrea

Email: srosenthal-larrea@cravath.com”

 

2.7Exhibit B (Compliance Certificate).  The Compliance Certificate appearing as Exhibit B to the Loan Agreement is amended to reflect the changes to Section 6.7 of the Loan Agreement, in the form provided by the Bank to the Borrower.

3.Limitation of Amendments.

3.1The amendments set forth in Section 2, above, are effective for the purposes set forth herein and shall be limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have or may have in the future under or in connection with any Loan Document.

3.2This Amendment shall be construed in connection with and as part of the Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and 

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shall remain in full force and effect.

4.Representations and Warranties.  To induce Bank to enter into this Amendment, Borrower hereby represents and warrants to Bank as follows:

4.1Immediately after giving effect to this Amendment (a) the representations and warranties contained in Section 5 of the Loan Agreement are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such date), and (b) no Event of Default has occurred and is continuing; provided that for the purpose of this Section 4.1, each reference to “Perfection Certificate” in Section 5 of the Loan Agreement shall refer to the Perfection Certificate of ViewRay, Inc. and ViewRay Technologies, Inc. dated as of December 28, 2018 (the “Perfection Certificate”), as amended and/or supplemented by the disclosures and information contained on Schedule 2, attached hereto.

4.2The organizational documents of Borrower previously delivered to Bank are true, accurate and complete and have not been amended, supplemented or restated since the Effective Date and are and continue to be in full force and effect;

4.3The execution and delivery by Borrower of this Amendment, and the performance by Borrower of its obligations under the Loan Agreement (as amended by this Amendment), have been duly authorized; 

4.4The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not (i) conflict with any of Borrower’s organizational documents, (ii) contravene, conflict with, constitute a default under or violate any material Requirement of Law, (iii) contravene, conflict or violate any applicable order, writ, judgment, injunction, decree, determination or award of any Governmental Authority by which Borrower or any of its Subsidiaries or any of their property or assets may be bound or affected, (iv) require any action by, filing, registration, or qualification with, or Governmental Approval from, any Governmental Authority (except such Governmental Approvals which have already been obtained and are in full force and effect) or (v) conflict with, contravene, constitute a default or breach under, or result in or permit the termination or acceleration of, any material agreement by which Borrower is bound; and

4.5This Amendment has been duly executed and delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable principles relating to or affecting creditors’ rights.

5.Ratification of Perfection Certificate.  The information and disclosures contained in the Perfection Certificate are hereby amended and supplemented by the disclosures set forth on Schedule 1 attached hereto.  Borrower hereby ratifies, confirms and reaffirms, all and singular, the information and disclosures contained in the Perfection Certificate (as amended and/or supplemented by the disclosures on Schedule 1, attached hereto), and 

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acknowledges, confirms and agrees that the disclosures and information Borrower provided to Bank in such Perfection Certificate (as amended and/or supplemented by the disclosures on Schedule 1 attached hereto) are true as of the date hereof.

6.Integration.  This Amendment and the Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements.  All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Amendment and the Loan Documents merge into this Amendment and the Loan Documents.

7.Counterparts.  This Amendment may be executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument.

8.Effectiveness.  This Amendment shall be deemed effective upon the completion of the following:

8.1The due execution and delivery to Bank of counterparts of this Amendment by each Borrower and the Bank; 

8.2If required by this Section 8.2, Borrower shall have delivered to the Bank a copy, certified by a duly authorized officer of Borrower to be true and complete as of the date hereof, of each of (i) the governing documents of Borrower as in effect on the date hereof (but only if such governing documents have been modified since last delivered to the Bank), (ii) the resolutions of Borrower authorizing the execution and delivery of this Amendment, the other documents executed in connection herewith and Borrower’s performance of all of the transactions contemplated hereby (but only if such resolutions have been adopted, or are required (as determined by the Borrower), to authorize the execution and delivery of, and performance of the obligations under, this Amendment since resolutions of Borrower were last delivered to Bank), and (iii) an incumbency certificate giving the name and bearing a specimen signature of each individual who shall has executed and delivered this Amendment on behalf of Borrower (but only if any such signatories have changed since an incumbency certificate was last delivered to Bank);

8.3The Bank shall have received updated evidence reasonably satisfactory to Bank that the insurance policies and endorsements required by Section 6.5 of the Loan Agreement are in full force and effect, together with appropriate evidence showing lender loss payable and/or additional insured clauses or endorsements in favor of Bank; and

8.4Borrower shall have paid the Bank’s reasonable and documented legal fees and expenses incurred in connection with this Amendment and the related Loan Documents.

9.Post-closing Matters.  On or before the date that is sixty (60) days after the date hereof (or such later date as Bank shall determine, in its sole discretion, unless waived by Bank, in its sole discretion), Borrower shall deliver to Bank executed bailee waivers from the following entities: (i) TransGroup Global Logistics; (ii) TransGroup South San Francisco; and (iii) Hegele Logistics LLC, in each case in form and substance reasonably acceptable to Bank. 

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[Signature page follows.]

6

 

 

 

 

In Witness Whereof, the parties hereto have caused this Amendment to be executed as of the date first written above.

 

 

BORROWER:

VIEWRAY, INC.

By___________________________________
Name:________________________________ 
Title:_________________________________

 

VIEWRAY TECHNOLOGIES, INC.

By___________________________________
Name:________________________________ 
Title:_________________________________

 

BANK:

SILICON VALLEY BANK

By___________________________________
Name:________________________________ 
Title:_________________________________

 

 

 

7

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