Document:

bwen_Ex10-4

		
			Exhibit 10.4
		

		
			SBA U.S. Small Business Administration 
		

		
			Note
		

			
					
						 

					
					
						 

				
	
					
						SBA Loan #

					
					
						84173170-06

				
	
					
						SBA Loan Name

					
					
						Broadwind Energy, Inc.

				
	
					
						Date

					
					
						April 8, 2020

				
	
					
						Loan Amount

					
					
						$331,400.00

				
	
					
						Interest Rate

					
					
						1.00% Fixed

				
	
					
						Borrower

					
					
						Broadwind Energy, Inc.

				
	
					
						Operating Company

					
					
						Broadwind Energy, Inc.

				
	
					
						Lender

					
					
						CIBC Bank USA

				

		
			 
		

		
			1. PROMISE TO PAY:
		

		
			In return for the Loan, Borrower promises to pay to the order of Lender the amount of Three Hundred
		

		
			Thirty-One Thousand Four Hundred 00/100.
		

		
			_____________________________________________________________________________________________
		

		
			Dollars, interest on the unpaid principal balance, and all other amounts required by this Note.
		

		
			 
		

		
			2. DEFINITIONS:
		

		
			 
		

		
			"Collateral" means any property taken as security for payment of this Note or any guarantee of this Note.
		

		
			"Guarantor" means each person or entity that signs a guarantee of payment of this Note.
		

		
			"Loan" means the loan evidenced by this Note.
		

		
			"Loan Documents" means the documents related to this loan signed by Borrower, any Guarantor, or
		

		
			anyone who pledges collateral.
		

		
			"SBA" means the Small Business Administration, an Agency of the United States of America.
		

		
			 
		

		
			3. PAYMENT TERMS:
		

		
			 
		

		
			Borrower must make all payments at the place Lender designates. The payment terms for this Note are:
		

		
			 
		

		
			The interest rate is on this Note is fixed at 1.00% per year.
		

		
			 
		

		
			All payments of principal and interest are deferred for the first six (6) months from the date of this
		

		
			Note ("Deferment Period").
		

		
			 
		

		
			On or about the date that is eight weeks following the date of this Note, Borrower shall submit to
		

		
			Lender a certified and attested schedule or eligible amounts of forgiveness ("Forgiven Balance"),
		

		
			together with documentation verifying the number of full-time equivalent employees on
		

		
			Borrower's payroll as well as the dollar amounts of payroll costs, covered mortgage interest
		

		
			payments, covered rent payments, and covered utility payments for the eight week period
		

		
			following the date of the first disbursement under this Note, as required by the Payroll Protection
		

		
			Program ("PPP"). Subject to the terms of the PPP, the Forgiven Balance will reduce the principal
		

		
			balance of this Note and the accrued interest on the Forgiven Balance is also forgiven.
		

		
			 
		

		
			Borrower must pay any remaining principal balance and accrued interest on or before the Maturity
		

		
			Date (defined below) with interest thereon paid monthly after the Deferment Period over the
		

		
			remaining term of this Note. Payments must be made on the same day as the date of this Note in
		

		
			

		 

		

			1

		

		

		
			the months they are due.
		

		
			 
		

		
			Lender will apply each installment payment first to pay interest accrued to the day Lender receives
		

		
			the payment, then to bring principal current, then to pay any late fees, and will apply any
		

		
			remaining balance to reduce principal.
		

		
			 
		

		
			The interest rate identified in the Note may not be changed during the life of the Loan unless
		

		
			changes in accordance with SOP 5010.
		

		
			 
		

		
			Loan Prepayment:
		

		
			Notwithstanding any provision in this Note to the contrary:
		

		
			Borrower may prepay this Note. Borrower may prepay 20 percent or less of the unpaid principal
		

		
			balance at any time without notice. If Borrower prepays more than 20 percent and the Loan has
		

		
			been sold on the secondary market, Borrower must:
		

		
			a. Give Lender written notice;
		

		
			b. Pay all accrued interest; and
		

		
			c. If the prepayment is received less than 21 days from the date Lender receives the notice, pay
		

		
			an amount equal to 21 days' interest from the date lender receives the notice, less any interest
		

		
			accrued during the 21 days and paid under subparagraph b., above.
		

		
			If Borrower does not prepay within 30 days from the date Lender received the notice, Borrower
		

		
			must give Lender a new notice.
		

		
			 
		

		
			All remaining principal and accrued interest is due and payable 2 years from date of Note
		

		
			("Maturity Date").
		

		
			 
		

		
			Late Charge: If a payment on this Note is more than 10 days late, Lender may charge Borrower a
		

		
			late fee of up to 5.00% of the unpaid portion of the regularly scheduled payment.
		

		
			 
		

		
			4. DEFAULT:
		

		
			Borrower is in default under this Note if Borrower does not make a payment when due under this
		

		
			Note, or if Borrower or Operating Company:
		

		
			 
		

		
			A. Fails to do anything required by this Note and other Loan Documents;
		

		
			B. Defaults on any other loan with Lender;
		

		
			C. Does not preserve, or account to Lender's satisfaction for, any of the Collateral or its proceeds;
		

		
			D. Does not disclose, or anyone acting on their behalf does not disclose, any material fact to
		

		
			Lender or SBA;
		

		
			 
		

		
			E. Makes, or anyone acting on their behalf makes, a materially false or misleading
		

		
			representation to Lender or SBA;
		

		
			 
		

		
			F. Defaults on any loan or agreement with another creditor, if Lender believes the default
		

		
			may materially affect Borrower's ability to pay this Note;
		

		
			 
		

		
			G. Fails to pay any taxes when due;
		

		
			H. Becomes the subject of a proceeding under any bankruptcy or insolvency law;
		

		
			I. Has a receiver or liquidator appointed for any part of their business or property;
		

		
			

		 

		

			2

		

		

		
			J. Makes an assignment for the benefit of creditors;
		

		
			K. Has any adverse change in financial condition or business operation that Lender believes
		

		
			may materially affect Borrower's ability to pay this Note;
		

		
			 
		

		
			L. Reorganizes, merges, consolidates, or otherwise changes ownership or business structure
		

		
			without Lender's prior written consent; or
		

		
			 
		

		
			M. Becomes the subject of a civil or criminal action that Lender believes may materially
		

		
			affect Borrower's ability to pay this Note.
		

		
			 
		

		
			5. LENDER'S RIGHTS IF THERE IS A DEFAULT:
		

		
			Without notice or demand and without giving up any of its rights, Lender may:
		

		
			A. Require immediate payment of all amounts owing under this Note;
		

		
			B. Collect all amounts owing from any Borrower or Guarantor;
		

		
			C. File suit and obtain judgment;
		

		
			D. Take possession of any Collateral; or
		

		
			E. Sell, lease or otherwise dispose of, any Collateral at public or private sale, with or
		

		
			without advertisement.
		

		
			 
		

		
			6. LENDER'S GENERAL POWERS:
		

		
			Without notice and without Borrower's consent, Lender may:
		

		
			A. Bid on or buy the Collateral at its sale or the sale of another lienholder, at any price it chooses;
		

		
			B. Incur expenses to collect amounts due under this Note, enforce the terms of this Note or any other
		

		
			Loan Document, and preserve or dispose of the Collateral. Among other things, the expenses may
		

		
			include payments for property taxes, prior liens, insurance, appraisals, environmental remediation
		

		
			costs, and reasonable attorney's fees and costs. If Lender incurs such expenses, it may demand
		

		
			immediate repayment from Borrower or add the expenses to the principal balance;
		

		
			C. Release anyone obligated to pay this Note;
		

		
			D. Compromise, release, renew, extend or substitute any of the Collateral; and
		

		
			E. Take any action necessary to protect the Collateral or collect amounts owing on this Note.
		

		
			7. WHEN FEDERAL LAW APPLIES:
		

		
			When SBA is the holder, this Note will be interpreted and enforced under federal law, including SBA
		

		
			regulations. Lender or SBA may use state or local procedures for filing papers, recording documents,
		

		
			giving notice, foreclosing liens, and other purposes. By using such procedures, SBA does not waive any
		

		
			

		 

		

			3

		

		

		
			federal immunity from state or local control, penalty, tax or liability. As to this Note, Borrower may not
		

		
			claim or assert against SBA any local or state law to deny any obligation, defeat any claim of SBA, or
		

		
			preempt federal law.
		

		
			8. SUCCESSORS AND ASSIGNS:
		

		
			Under this Note, Borrower and Operating Company include the successors of each, and Lender
		

		
			includes its successors and assigns.
		

		
			9. GENERAL PROVISIONS:
		

		
			A. All individuals and entities signing this Note are jointly and severally liable.
		

		
			B. Borrower waives all suretyship defenses.
		

		
			C. Borrower must sign all documents necessary at any time to comply with the Loan Documents
		

		
			and to enable Lender to acquire, perfect, or maintain Lender's liens on Collateral.
		

		
			D. Lender may exercise any of its rights separately or together, as many times and in any order it
		

		
			chooses. Lender may delay or forgo enforcing any of its rights without giving up any of them.
		

		
			E. Borrower may not use an oral statement of Lender or SBA to contradict or alter the written
		

		
			terms of this Note.
		

		
			F. If any part of this Note is unenforceable, all other parts remain in effect.
		

		
			G. To the extent allowed by law, Borrower waives all demands and notices in connection with this
		

		
			Note, including presentment, demand, protest, and notice of dishonor. Borrower also waives any
		

		
			defenses based upon any claim that Lender did not obtain any guarantee; did not obtain, perfect, or
		

		
			maintain a lien upon Collateral; impaired Collateral; or did not obtain the fair market value of
		

		
			Collateral at a sale.
		

		
			10. STATE-SPECIFIC PROVISIONS:
		

		
			This Note is made pursuant to the terms and conditions of the Paycheck Protection Program
		

		
			(“PPP”), which is part of the CARES Act 2020. Notwithstanding any provision to the contrary, this
		

		
			Note shall be interpreted in accordance with the PPP and guidance issued by the Small Business
		

		
			Administration implementing the PPP.
		

		
			 
		

		
			Borrower agrees to execute and deliver to Lender any additional documents consistent with the
		

		
			Loan Documents as may be recommended or required in connection with the PPP. Borrower
		

		
			acknowledges the speed of the implementation of the PPP and recognizes that additional
		

		
			documents may be required to document the Loan.
		

		
			 
		

		
			This Note may be executed by electronic signature, which shall be considered as an original
		

		
			

		 

		

			4

		

		

		
			signature for all purposes and shall have the same force and effect as an original signature.Without limitation, “electronic signature” shall include faxed versions of an original signature or electronically scanned and transmitted versions (e.g., via pdf) of an original signature. 
		

		
			 
		

		
			THE HOLDER OF THIS NOTE SHALL NOT BE REQUIRED TO RENEW, EXTEND OR REFINANCE THIS NOTE OR ANY AMOUNTS DUE UNDER THIS NOTE.
		

		
			 
		

		
			JURY WAIVER AND CONSENT TO JURISDICTION. LENDER AND BORROWER HEREBY WAIVE THE RIGHT TO ANY JURY TRIAL IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM BROUGHT BY EITHER LENDER OR BORROWER AGAINST THE OTHER. TO INDUCE LENDER TO ACCEPT THIS NOTE BORROWER IRREVOCABLY AGREE THAT, SUBJECT TO LENDER’S SOLE AND ABSOLUTE ELECTION, ALL ACTIONS OR PROCEEDINGS IN ANY WAY ARISING OUT OF OR RELATED TO THIS NOTE WILL BE LITIGATED IN COURTS HAVING SITUS IN COOK COUNTY, ILLINOIS. BORROWER HEREBY CONSENT AND SUBMIT TO THE JURISDICTION OF ANY COURT LOCATED WITHIN COOK COUNTY, ILLINOIS, WAIVES PERSONAL SERVICE OF PROCESS AND AGREE THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED MAIL DIRECTED TO BORROWER AT THE
		

		
			ADDRESS STATED HEREIN AND SERVICE SO MADE WILL BE DEEMED TO BE COMPLETED UPON ACTUAL RECEIPT.
		

		
			 
		

		
			11. BORROWER'S NAME(S) AND SIGNATURE(S):
		

		
			By signing below, each individual or entity becomes obligated under this Note as Borrower.
		

		
			 
		

		
			Broadwind Energy, Inc.
		

			
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Jason Bonfigt

				
	
					
						Name:

					
					
						Jason Bonfigt

				
	
					
						Title:

					
					
						CFO

				

		
			 
		

		 

		

			5Document

EXHIBIT 10.2

FOURTH AMENDMENT TO LOAN AND SECURITY AGREEMENT

This FOURTH AMENDMENT TO LOAN AND SECURITY AGREEMENT (this
“Amendment”), dated as of March 31, 2020 (the “Amendment Effective Date”), is entered into by and among Tricida, Inc. (the “Borrower”), the several banks and other financial institutions or entities from time to time party thereto (collectively, “Lender”), Hercules Capital, Inc. (“Hercules Capital”), a Maryland corporation, in its capacity as administrative agent and collateral agent for itself and the Lender (in such capacity, together with its successors and assigns in such capacity, the “Agent”).

WHEREAS, the Borrower, the Lender and Agent are parties to that certain Loan and Security Agreement dated as of February 28, 2018 (as amended, modified or supplemented from time to time, the “Loan Agreement”);

WHEREAS, the Required Lenders, as defined in the Loan Agreement, and Agent are willing to amend the Loan Agreement in accordance with and subject to the terms and conditions set forth herein.

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

SECTION 1 Definitions; Interpretation.

(a)All capitalized terms used in this Amendment (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Loan Agreement.

(b)The rules of interpretation set forth in Section 1.1 of the Loan Agreement shall be applicable to this Amendment and are incorporated herein by this reference.

SECTION 2      Amendments to the Loan Agreement.    For the avoidance of doubt, each of the following amendments to the Loan Agreement is subject to the satisfaction of the conditions precedent set forth in Section 3 of this Amendment.

(a)   Amendments to the Loan Agreement

(i)Schedule 1.1 Commitments: Schedule 1.1 is hereby amended and restated in its entirety as follows:
SCHEDULE 1.1

COMMITMENTS
									
	LENDER	TRANCHE	TERM COMMITMENT
	Hercules Capital, Inc.	1-A	$15,000,000
	Hercules Technology III, L.P.	1-A	$10,000,000

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	Hercules Capital, Inc.		$15,000,000
	Hercules Capital, Inc.		$20,000,000
	Hercules Capital, Inc.		$5,000,000
	Hercules Technology III, L.P.		$10,000,000
	Hercules Capital, Inc.		$75,000,000
	Hercules Capital, Inc.		$50,000,000*
	TOTAL COMMITMENTS		$200,000,000*

*Funding of Tranche 3 is subject to approval by Agent’s investment committee in its sole and unfettered discretion.

(b)    References within the Loan Agreement. Each reference in the Loan Agreement to “this Agreement” and the words “hereof,” “herein,” “hereunder,” or words of like import, shall mean and be a reference to the Loan Agreement as further amended by this Amendment.

SECTION 3 Conditions of Effectiveness. The effectiveness of Section 2 of this Amendment shall be subject to the satisfaction of each of the following conditions precedent:

(a)           This Amendment. Agent shall have received this Amendment, executed by Agent, the Lender and the Borrower.

(b)         Representations and Warranties; No Default. On the Amendment Effective Date, after giving effect to the amendment of the Loan Agreement contemplated hereby:

(i)The representations and warranties contained in Section 4 shall be true and correct on and as of the Amendment Effective Date as though made on and as of such date; and

(ii)There exist no Events of Default or events that with the passage of time would result in an Event of Default.

SECTION 4 Representations and Warranties. To induce Agent and Lender to enter into this Amendment, Borrower hereby confirms, as of the date hereof, (a) that the representations and warranties made by it in Section 5 of the Loan Agreement and in the other Loan Documents are true and correct in all material respects; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; (b) that there has not been and there does not exist a Material Adverse Change; and (c) that the information included in the Perfection Certificate delivered to Agent on the Effective Date remains true and correct. For the purposes of this Section 4, (i) each reference in Section 5 of the Loan Agreement to “this Agreement,” and the words “hereof,” “herein,” “hereunder,” or words of like import in such section, shall mean and be a reference to the Loan Agreement as amended by this Amendment, and (ii) any representations and warranties which relate solely to an earlier date shall not be deemed confirmed and restated as of the date

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hereof (provided that such representations and warranties shall be true, correct and complete as of such earlier date).

SECTION 5 Miscellaneous.

(a)Loan Documents Otherwise Not Affected; Reaffirmation. Except as expressly amended pursuant hereto or referenced herein, the Loan Agreement and the other Loan Documents shall remain unchanged and in full force and effect and are hereby ratified and confirmed in all respects. The Lender’s and Agent’s execution and delivery of, or acceptance of, this Amendment shall not be deemed to create a course of dealing or otherwise create any express or implied duty by any of them to provide any other or further amendments, consents or waivers in the future. Borrower hereby reaffirms the grant of security under Section 3.1 of the Loan Agreement and hereby reaffirms that such grant of security in the Collateral secures all Secured Obligations under the Loan Agreement and the other Loan Documents.

(b)Conditions. For purposes of determining compliance with the conditions specified in Section 3, each Lender that has signed this Amendment shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless Agent shall have received notice from such Lender prior to the Amendment Effective Date specifying its objection thereto.

(c)Release. In consideration of the agreements of Agent and each Lender contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Borrower, on behalf of itself and its successors, assigns, and other legal representatives, hereby fully, absolutely, unconditionally and irrevocably releases, remises and forever discharges Agent and each Lender, and its successors and assigns, and its present and former shareholders, affiliates, subsidiaries, divisions, predecessors, directors, officers, attorneys, employees, agents and other representatives (Agent, Lenders and all such other persons being hereinafter referred to collectively as the “Releasees” and individually as a “Releasee”), of and from all demands, actions, causes of action, suits, covenants, contracts, controversies, agreements, promises, sums of money, accounts, bills, reckonings, damages and any and all other claims, counterclaims, defenses, rights of set-off, demands and liabilities whatsoever of every name and nature, known or unknown, suspected or unsuspected, both at law and in equity, which Borrower, or any of its successors, assigns, or other legal representatives may now or hereafter own, hold, have or claim to have against the Releasees or any of them for, upon, or by reason of any circumstance, action, cause or thing whatsoever which arises at any time on or prior to the day and date of this Amendment for or on account of, or in relation to, or in any way in connection with the Loan Agreement, or any of the other Loan Documents or transactions thereunder or related thereto. Borrower understands, acknowledges and agrees that the release set forth above may be pleaded as a full and complete defense and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the provisions of such release. Borrower agrees that no fact, event, circumstance, evidence or transaction which could now be asserted or which may hereafter be discovered shall, to the fullest extent of the law, affect in any manner the final, absolute and unconditional nature of the release set forth above.
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(d) No Reliance. Borrower hereby acknowledges and confirms to Agent and the Lender that Borrower is executing this Amendment on the basis of its own investigation and for its own reasons without reliance upon any agreement, representation, understanding or communication by or on behalf of any other Person.

(e)  Costs and Expenses. Borrower agrees to pay to Agent on the Amendment Effective Date the out-of-pocket costs and expenses of Agent and the Lenders party hereto, and the fees and disbursements of counsel to Agent and the Lenders party hereto (including allocated costs of internal counsel), in connection with the negotiation, preparation, execution and delivery of this Amendment and any other documents to be delivered in connection herewith on the Amendment Effective Date or after such date, not to exceed five thousand dollars ($5,000) in the aggregate.

(f)  Binding Effect. This Amendment binds and is for the benefit of the successors and permitted assigns of each party.

(g) Governing Law. This Amendment and the other Loan Documents shall be governed by, and construed and enforced in accordance with, the laws of the State of California, excluding conflict of laws principles that would cause the application of laws of any other jurisdiction.

(h) Complete Agreement; Amendments. This Amendment and the Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements with respect to such subject matter. 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.

(i) Severability of Provisions. Each provision of this Amendment is severable from every other provision in determining the enforceability of any provision.

(j) Counterparts. This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, is an original, and all taken together, constitute one Amendment. Delivery of an executed counterpart of a signature page of this Amendment by facsimile, portable document format (.pdf) or other electronic transmission will be as effective as delivery of a manually executed counterpart hereof.

(k)  Loan Documents. This Amendment shall constitute a Loan Document.

[Balance of Page Intentionally Left Blank; Signature Pages Follow]

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

						
	BORROWER:	
		
	TRICIDA, INC.	
		
	Signature:	/s/ Geoff Parker
	Print Name:	Geoff Parker
	Title:	CFO & EVP
	Date:	March 31, 2020

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

						
	AGENT and LENDER:	
		
	HERCULES CAPITAL, INC.	
		
	Signature:	/s/ Zhuo Huang
	Print Name:	Zhuo Huang
	Title:	Associate General Counsel

						
	LENDER:	
		
	HERCULES TECHNOLOGY III, L.P.	
	a Delaware limited partnership	
		
	By: Hercules Technology SBIC Management, 	
	LLC,	
	its General Partner	
		
	By: Hercules Capital, Inc.,	
	its Manager	
	By:	/s/ Zhuo Huang
	Name:	Zhuo Huang
	Its:	Associate General Counsel

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