Document:

clsd-ex101_6.htm

Exhibit 10.1

FIRST AMENDMENT
TO
AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT

THIS FIRST AMENDMENT to Amended and Restated Loan and Security Agreement (this “Amendment”) is entered into as of October 31, 2017, by and among SILICON VALLEY BANK, a California corporation (“Bank”), as collateral agent (in such capacity, “Collateral Agent”), the Lenders listed on Schedule 1.1 hereof or otherwise a party hereto from time to time including Bank in its capacity as a Lender and ELM 2016-1 TRUST (as successor in interest to MIDCAP FUNDING XIII TRUST) and MIDCAP FINANCIAL TRUST (individually and collectively, jointly and severally, “MidCap”) (each a “Lender” and collectively, the “Lenders”), and CLEARSIDE BIOMEDICAL, INC., a Delaware corporation (“Borrower”).

Recitals

A.Lenders and Borrower have entered into that certain Amended and Restated Loan and Security Agreement dated as of September 28, 2016 (as the same may from time to time be amended, modified, supplemented or restated, the “Loan Agreement”).

B.Lenders have extended credit to Borrower for the purposes permitted in the Loan Agreement.

C.Borrower has requested that Lenders amend the Loan Agreement to (i) extend the Second Draw Period, (ii) modify the covenant that Borrower and its Subsidiaries maintain accounts at Bank and (iii) make certain other revisions to the Loan Agreement as more fully set forth herein.

D.Lenders have 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 6.6 (Operating Accounts).  Section 6.6(a) of the Loan Agreement hereby is amended and restated in its entirety to read as follows:

“(a)Maintain its and each of its Subsidiaries’ (i) operating and deposit accounts with Bank, (ii) primary securities accounts, inclusive of any accounts maintained in connection with asset management, with Bank and Bank’s Affiliates and (iii) business credit cards, letters of credit and foreign exchange transactions with Bank and Bank’s Affiliates.”

1

 

2.2Section 14 (Definitions).  The following term and its respective definition hereby is amended and restated in its entirety in Section 14.1 of the Loan Agreement to read as follows:

“Second Draw Period” is the period commencing on the later of (i) September 30, 2017, and (ii) the date of the occurrence of the Data Milestone Event and ending on the earlier of (i) March 31, 2018, and (ii) the occurrence of an Event of Default; provided, however, that the Second Draw Period shall not commence if (a) on the date of the occurrence of the Data Milestone Event or (b) on September 30, 2017, if later than the Data Milestone Event, an Event of Default has occurred and is continuing.

 

2.3Schedule 1.1 to the Loan Agreement hereby is replaced with Schedule 1.1 attached hereto.

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 Lenders 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 shall remain in full force and effect.

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

4.1Immediately after giving effect to this Amendment (a) the representations and warranties contained in the Loan Documents 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;

4.2Borrower has the power and authority to execute and deliver this Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment;

4.3The organizational documents of Borrower delivered to Lenders on the Effective Date remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect;

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, have been duly authorized;

4.5The 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 and will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual restriction with a Person binding on Borrower, (c) any order, judgment or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower;

 

 

4.6The 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 require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision thereof, binding on either Borrower, except as already has been obtained or made; and

4.7This 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.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.

6.Effectiveness.  This Amendment shall be deemed effective upon (a) the due execution and delivery to Lenders of this Amendment by each party hereto, (b) the due execution and delivery to Lenders of an updated Corporate Borrowing Certificate from Borrower, (c) Borrower’s payment of (i) an amendment fee to ELM 2016-1 TRUST in an amount equal to Eighteen Thousand Six Hundred Sixty-Six Dollars and Sixty-Seven Cents ($18,666.67), (ii) an amendment fee to MIDCAP FINANCIAL TRUST in an amount equal to Sixteen Thousand Three Hundred Thirty-Three Dollars and Thirty-Three Cents ($16,333.33), and (iii) all Lenders’ Expenses due and owing as of the date hereof, which may all be debited from any of Borrower’s accounts at Lenders.

[Balance of Page Intentionally Left Blank]

 

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the Effective Date.

			
	
BORROWER:
	
 
	
 

	
 
	
 
	
 

	
CLEARSIDE BIOMEDICAL, INC.
	
 
	
 

	
 
	
 
	
 

	
By:  /s/ Charles A. Deignan
	
 
	
 

	
Name:  Charles A. Deignan
	
 
	
 

	
Title:  Chief Financial Officer
	
 
	
 

	
 
	
 
	
 

	
 

COLLATERAL AGENT AND LENDER:
	
 
	
 

	
 
	
 
	
 

	
SILICON VALLEY BANK
	
 
	
 

	
 
	
 
	
 

	
By:  /s/ Scott McCarty
	
 
	
 

	
Name:  Scott McCarty
	
 
	
 

	
Title:  Director
	
 
	
 

	
 
	
 
	
 

	
 

LENDERS:
	
 
	
 

	
 
	
 
	
 

	
ELM 2016-1 TRUST
	
 
	
Address:

	
 
	
 
	
 

	
By: MidCap Financial Services Capital Management, LLC,
	
 
	
 

c/o MidCap Financial Services, LLC, as servicer

	
its servicer
	
 
	
7255 Woodmont Avenue, Suite 200

	
 
	
 
	
Bethesda, Maryland 20814

 

	
By:  /s/ John O’Dea
	
 
	
Attn:  Account Manager for Clearside

	
Name:  John O’Dea
	
 
	
Biomedical transaction

	
Title:  Authorized Signatory
	
 
	
Facsimile:  301-941-1450

	
 
	
 
	
E-mail:  notices@midcapfinancial.com

	
 
	
 
	
 

	
 
	
 
	
 

	
MIDCAP FINANCIAL TRUST
	
 
	
with a copy to:

	
 
	
 
	
 

	
By: Apollo Capital Management, L.P.,
	
 
	
c/o MidCap Financial Services, LLC, as servicer

	
its investment manager
	
 
	
7255 Woodmont Avenue, Suite 200

	
 
	
 
	
Bethesda, Maryland 20814

	By: Apollo Capital Management GP, LLC,its general partner
 
	
 
	
 

Attn:  General Counsel

	
 
	
 
	
Facsimile:  301-941-1450

	
By:  /s/Maurice Amsellem
	
 
	
E-mail:  legalnotices@midcapfinancial.com

	
Name:  Maurice Amsellem
	
 
	
 

	
Title:    Authorized Signatory
	
 
	
 

	
 
	
 
	
 

 

 

SCHEDULE 1.1

Lenders and Commitments

			
	
 
	
Term A Loans
	
 

	
Lender
	
Term Loan Commitment
	
Commitment Percentage

	
SILICON VALLEY BANK
	
$4,000,000.00
	
50.00%

	
ELM 2016-1 TRUST (as successor in interest to MIDCAP FUNDING XIII TRUST)
	
$4,000,000.00
	
50.00%

	
TOTAL
	
$8,000,000.00
	
100.00%

 

			
	
 
	
Term B Loans
	
 

	
Lender
	
Term Loan Commitment
	
Commitment Percentage

	
SILICON VALLEY BANK
	
$3,500,000.00
	
50.00%

	
MIDCAP FINANCIAL TRUST
	
$3,500,000.00
	
50.00%

	
TOTAL
	
$7,000,000.00
	
100.00%

 

			
	
 
	
Aggregate (all Term Loans)
	
 

	
Lender
	
Term Loan Commitment
	
Commitment Percentage

	
SILICON VALLEY BANK
	
$7,500,000.00
	
50.00%

	
ELM 2016-1 TRUST (as successor in interest to MIDCAP FUNDING XIII TRUST)
	
$4,000,000.00
	
26.67%

	
MIDCAP FINANCIAL TRUST
	
$3,500,000.00
	
23.33%

	
TOTAL
	
$15,000,000.00
	
100.00%

 

 

 

CORPORATE BORROWING certificatE

 

 

Borrower:  CLEARSIDE BIOMEDICAL, INC.  Date:  October __, 2017

Lenders:SILICON VALLEY BANK, as Collateral Agent and Lender

ELM 2016-1 TRUST (as successor in interest to MIDCAP FUNDING XIII TRUST) and MIDCAP FINANCIAL TRUST, as Lender

 

I hereby certify as follows, as of the date set forth above:

1.I am the Secretary, Assistant Secretary or other officer of Borrower.  My title is as set forth below.

 

2.Borrower’s exact legal name is set forth above.  Borrower is a corporation existing under the laws of the State of Delaware.

 

3.Attached hereto are true, correct and complete copies of Borrower’s Certificate of Incorporation (including amendments), as filed with the Secretary of State of the state in which Borrower is incorporated as set forth above.  Such Certificate of Incorporation have not been amended, annulled, rescinded, revoked or supplemented, and remain in full force and effect as of the date hereof.  

 

4.The following resolutions were duly and validly adopted by Borrower’s Board of Directors at a duly held meeting of such directors (or pursuant to a unanimous written consent or other authorized corporate action).  Such resolutions are in full force and effect as of the date hereof and have not been in any way modified, repealed, rescinded, amended or revoked, and the Lenders may rely on them until each Lender receives written notice of revocation from Borrower.

 

Resolved, that any one of the following officers or employees of Borrower, whose names, titles and signatures are below, may act on behalf of Borrower:

	
Name
	
Title
	
Signature
	
Authorized to Add or Remove Signatories

	
 
	
 
	
 
	
☐

	
 
	
 
	
 
	
☐

	
 
	
 
	
 
	
☐

	
 
	
 
	
 
	
☐

 

Resolved Further, that any one of the persons designated above with a checked box beside his or her name may, from time to time, add or remove any individuals to and from the above list of persons authorized to act on behalf of Borrower.

 

Resolved Further, that such individuals may, on behalf of Borrower:

 

 

 

Borrow Money.  Borrow money from the Lenders.

Execute Loan Documents.  Execute any loan documents any Lender requires. 

Grant Security.  Grant Collateral Agent a security interest in any of Borrower’s assets.

Negotiate Items.  Negotiate or discount all drafts, trade acceptances, promissory notes, or other indebtedness in which Borrower has an interest and receive cash or otherwise use the proceeds.

Apply for Letters of Credit.  Apply for letters of credit from Silicon Valley Bank.

Enter Derivative Transactions.  Execute spot or forward foreign exchange contracts, interest rate swap agreements, or other derivative transactions.

Issue Warrants.  Issue warrants for Borrower’s capital stock.

Further Acts.  Designate other individuals to request advances, pay fees and costs and execute other documents or agreements (including documents or agreement that waive Borrower’s right to a jury trial) they believe to be necessary to effect these resolutions.

 

Resolved Further, that all acts authorized by the above resolutions and any prior acts relating thereto are ratified. 

 

5.The persons listed above are Borrower's officers or employees with their titles and signatures shown next to their names.

 

CLEARSIDE BIOMEDICAL, INC.

 

 

By:  

 

Name:  

 

Title:  

 

 

*** If the Secretary, Assistant Secretary or other certifying officer executing above is designated by the resolutions set forth in paragraph 4 as one of the authorized signing officers, this Certificate must also be signed by a second authorized officer or director of Borrower.

 

 

I, the __________________________ of Borrower, hereby certify as to paragraphs 1 through 5 above, as of the date set forth above.

 

 

By:  

 

Name:  

 

Title:Exhibit

Exhibit 10.1

SIXTH AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT
THIS SIXTH AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Amendment”), dated as of September 19, 2017, is by and among ADVANCED MICRO DEVICES, INC., a Delaware corporation (“Parent”), AMD INTERNATIONAL SALES & SERVICE, LTD., a Delaware corporation (“AMDISS”; together with Parent each, individually, a “Borrower” and, collectively, the “Borrowers”), ATI TECHNOLOGIES ULC, an Alberta unlimited liability corporation (the “Canadian Guarantor” and together with the Borrowers, the “Obligors”), the Lenders (as defined below) party hereto, and BANK OF AMERICA, N.A., as agent for the Lenders (in such capacity, the “Agent”).  Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed thereto in the Loan Agreement (defined below).
W I T N E S S E T H
WHEREAS, the Obligors, certain banks and financial institutions from time to time party thereto (the “Lenders”), and the Agent are parties to that certain Amended and Restated Loan and Security Agreement dated as of April 14, 2015 (as amended by that certain First Amendment to Amended and Restated Loan and Security Agreement dated as of June 10, 2015, that certain Second Amendment to Amended and Restated Loan and Security Agreement dated as of April 29, 2016, that certain Third Amendment to Amended and Restated Loan and Security Agreement dated as of June 21, 2016, that certain Fourth Amendment to Amended and Restated Loan and Security Agreement dated as of September 7, 2016, and that certain Fifth Amendment to Amended and Restated Loan and Security Agreement dated as of March 21, 2017, and as the same has been further amended, restated, supplemented, or otherwise modified until the date hereof, the “Loan Agreement”); and
WHEREAS, the Obligors have requested, and the Agent and Lenders party hereto have agreed to, subject to the terms and conditions hereof, an amendment of certain provisions of the Loan Agreement, as set forth herein.
NOW, THEREFORE, in consideration of the agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:
ARTICLE I 
AMENDMENTS TO LOAN AGREEMENT
1.1    Amendment to Definitions.  
(a)    The following definitions are hereby added to Section 1.1 of the Loan Agreement in appropriate alphabetic order:
“Sixth Amendment Effective Date” means September [__], 2017.
(b)    The following definition in Section 1.1 of the Loan Agreement is hereby amended so that its reads, in its entirety, as follows:
“Qualified Factor Arrangement”: a factoring, invoice discounting, supply chain finance arrangement or similar arrangement entered into by an Obligor and disclosed in writing to Agent, pursuant to which such Obligor agrees to assign from time to time to a Qualified Factor its right, title and interest in certain of such Obligor’s Accounts owing from a Permitted Account Debtor, provided, that in connection therewith, the applicable agreements and other documentation entered into with respect to such arrangement satisfies all of the following conditions as determined by Agent in its Permitted Discretion: (a) such Obligor does not grant (and the Qualified Factor does not otherwise obtain) any Liens on any Collateral other than Qualified Factor Accounts; (b) the applicable agreements and other documentation entered into with respect to such arrangement are in form and substance satisfactory to Agent in its Permitted Discretion; (c) Accounts sold pursuant to the terms of a Qualified Factor Arrangement shall be identified as Accounts that are not Eligible Accounts on any Borrowing Base Certificate delivered to Agent until such Accounts are no longer outstanding; (d) the portion of the purchase price with respect to any Qualified Factor Account that must be paid in cash to a Subject Account at the time of such purchase shall not be less than 97% (or such lesser percentage as the Agent may determine from time to time in its Permitted Discretion, but in any event not less than 87.5%) of the original invoiced amount (net of any credit notes applied by the applicable Permitted Account Debtor) of such Qualified Factor Account, and to the extent so provided in the applicable agreements and other documentation entered into with respect to such arrangement, all or a portion of the remaining original invoiced amount may be payable to an Obligor as a deferred purchase price when the Account is paid by the applicable Permitted Account Debtor; (e) Agent and the Qualified Factor shall have entered into an agreement setting forth the conditions upon which Agent’s liens in the Qualified Factor Account will be released or subordinated, which agreement shall be in form and substance satisfactory to Agent in its Permitted Discretion (each such agreement, an “Agent/Factor Agreement”); and (f) the aggregate face amount of outstanding Qualified Factor Accounts permitted to be held or owing to such Qualified Factor or subject to repurchase by an Obligor at any time, without duplication, shall be subject to a limit (the “Qualified Factor Maximum Amount”), which, together with the Qualified Factor Maximum Amount for each other Qualified Factor (if any) held or owing to such Qualified Factor or subject to repurchase by an Obligor at such time, without duplication, shall not exceed (i) during the first Fiscal Quarter of each Fiscal Year, $220,000,000 in the aggregate, (ii) during the second and third Fiscal Quarter of each Fiscal Year, $300,000,000 in the aggregate, and (iii)(x) from the first day of the fourth Fiscal Quarter of each Fiscal Year to December 20 of each Fiscal Year, $300,000,000 in the aggregate (provided that, not more than $220,000,000 of such amount may consist of Qualified Factor Accounts sold in such period) and (y) from December 21 of each Fiscal Year to and including the last day of the fourth Fiscal Quarter of each Fiscal Year, $220,000,000 in the aggregate, provided that, with respect to any particular Permitted Account Debtor whose Qualified Factor Accounts are subject to a Qualified Factor Arrangement, the Agent may establish from time to time in its Permitted Discretion sublimits under such Qualified Factor Maximum Amount with respect to such Qualified Factor Accounts.  In connection with any Qualified Factor Arrangement, in addition to any other Availability Reserves or eligibility criteria that Agent may from time to time establish hereunder in its Permitted Discretion, Borrowers agree that Agent may impose Availability Reserves or Eligible Account ineligibles with respect to Accounts owing to a Qualified Factor or its Affiliates.  Anything in this Agreement to the contrary notwithstanding, effective immediately upon the occurrence of an Event of Default, Obligors shall no longer be able to sell or assign any Qualified Factor Accounts under any Qualified Factor Arrangements.  For the avoidance of doubt, funds held in any deposit account maintained by or for the benefit of a Qualified Factor in connection with a Qualified Factor Arrangement shall not constitute Domestic Cash for the purposes of the Loan Documents, whether or not such deposit accounts are owned by an Obligor.  For purposes of this definition, a Qualified Factor Account in respect of which a Borrower is not the servicer for such Qualified Factor Account shall be considered held or owing to a Qualified Factor, or subject to repurchase by an Obligor, from the date of sale to such Qualified Factor until the earlier of (i) the date on which an Obligor repurchases such Qualified Factor Account and (ii) the scheduled due date thereof at the time of such sale.
ARTICLE II     
CONDITIONS TO EFFECTIVENESS
2.1    Closing Conditions.  This Amendment shall become effective as of the day and year set forth above (the “Sixth Amendment Effective Date”) upon satisfaction of the following conditions (in each case, in form and substance reasonably acceptable to the Agent):  
(a)    Executed Amendment.  The Agent shall have received a copy of this Amendment duly executed by each of the Obligors, the Required Lenders and the Agent.
(b)    Default.  Before and after giving effect to this Amendment, no Default or Event of Default shall exist.
(c)    Expenses.  The Agent shall have received from the Borrowers (or shall be satisfied with arrangements made for the payment thereof) such fees and expenses that are payable in connection with the consummation of the transactions contemplated hereby pursuant to the terms of the Loan Agreement, provided that, neither Agent nor any Lender shall be entitled to a fee in respect of this Amendment.
ARTICLE III     
MISCELLANEOUS
3.1    Amended Terms.  On and after the Sixth Amendment Effective Date, all references to the Loan Agreement in each of the Loan Documents shall hereafter mean the Loan Agreement as amended by this Amendment.  Except as specifically amended hereby or otherwise agreed, the Loan Agreement is hereby ratified and confirmed and shall remain in full force and effect according to its terms.
3.2    Representations and Warranties of Obligors.  Each of the Obligors represents and warrants as follows:
(a)    It has taken all necessary action to authorize the execution, delivery and performance of this Amendment.
(b)    This Amendment has been duly executed and delivered by such Obligor and constitutes such Obligor’s legal, valid and binding obligation, enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally.
(c)    No consent, approval, authorization or order of, or filing, registration or qualification with, any court or governmental authority or third party is required in connection with the execution, delivery or performance by such Obligor of this Amendment that has not already been obtained or made.
(d)    The representations and warranties set forth in Section 9 of the Loan Agreement are true and correct in all material respects as of the date hereof (except for those which expressly relate to an earlier date).
(e)    Immediately before and after giving effect to this Amendment, no event has or will have occurred and be continuing which constitutes a Default or an Event of Default.
3.3    Reaffirmation of Obligations.  Each Obligor hereby ratifies the Loan Agreement and acknowledges and reaffirms (a) that it is bound by all terms of the Loan Agreement and the other Loan Documents applicable to it and (b) that it is responsible for the observance and full performance of its respective Obligations pursuant to the terms of the Loan Documents.
3.4    Loan Document.  This Amendment shall constitute a Loan Document under the terms of the Loan Agreement.
3.5    Expenses.  The Borrowers agree to pay costs and expenses of the Agent in connection with the preparation, execution and delivery of this Amendment pursuant to the terms of the Loan Agreement.
3.6    Further Assurances.  The Obligors agree to promptly take such action, upon the reasonable request of the Agent, as is necessary to carry out the provisions of this Amendment.
3.7    Entirety.  This Amendment and the other Loan Documents embody the entire agreement among the parties hereto and supersede all prior agreements and understandings, oral or written, if any, relating to the subject matter hereof.
3.8    Counterparts; Telecopy.  This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument.  Delivery of an executed counterpart of a signature page of this Amendment or any other document required to be delivered hereunder, by fax transmission or e-mail transmission (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Amendment.  Without limiting the foregoing, upon the request of any party, such fax transmission or e-mail transmission shall be promptly followed by such manually executed counterpart.
3.9    No Actions, Claims, Etc.  As of the date hereof, each of the Obligors hereby acknowledges and confirms that it has no knowledge of any actions, causes of action, claims, demands, damages and liabilities of whatever kind or nature, in law or in equity, against the Agent, the Lenders, or the Agent’s or the Lenders’ respective officers, employees, representatives, agents, counsel or directors arising from any action by such Persons, or failure of such Persons to act, under the Loan Agreement on or prior to the date hereof.  
3.10    GOVERNING LAW.  THIS AMENDMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA, WITHOUT GIVING EFFECT TO ANY CONFLICT OF LAW PRINCIPLES EXCEPT FEDERAL LAWS RELATING TO NATIONAL BANKS.
3.11    Successors and Assigns.  This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
3.12    Consent to Forum; Service of Process; Waiver of Jury Trial.  The provisions set forth in Sections 14.15 and 14.16 of the Loan Agreement are hereby incorporated by reference, mutatis mutandis.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

IN WITNESS WHEREOF the parties hereto have caused this Amendment to be duly executed on the date first above written.
		
	OBLIGORS:
	ADVANCED MICRO DEVICES, INC., a Delaware corporation

By:    /s/Devinder Kumar            
Name: Devinder Kumar
Title:    Senior Vice President, Chief Financial Officer and Treasurer

AMD INTERNATIONAL SALES & SERVICE, LTD., a Delaware corporation

By:    /s/Devinder Kumar            
Name: Devinder Kumar
Title:    Chief Financial Officer

ATI TECHNOLOGIES ULC, an Alberta unlimited liability corporation

By:    /s/Devinder Kumar            
Name: Devinder Kumar    
Title:    President & Chief Executive Officer

		
	AGENT AND LENDERS:
	BANK OF AMERICA, N.A., as Agent and a Lender

By:    /s/Ron Bornstein            
Name: Ron Bornstein
Title:    Senior Vice President
WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender

By:    /s/Maria Quintanilla        
Name: Maria Quintanilla
Title:    Authorized Signatory
BARCLAYS BANK PLC, as a Lender

By:    /s/Marguerite Sutton        
Name: Marguerite Sutton
Title:    Vice President
JPMORGAN CHASE BANK, N.A., as a Lender

By:    /s/Peter B. Thauer        
Name: Peter B. Thauer
Title:    Managing Director

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender

By:    /s/Doreen Barr        
Name: Doreen Barr
Title:    Authorized Signatory

By:    /s/Lingzi Huang        
Name: Lingzi Huang
Title:    Authorized Signatory

GOLDMAN SACHS BANK USA, as a Lender

By:    /s/David Cirigliano        
Name: David Cirigliano
Title:    Authorized Signatory

1

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