Document:

Exhibit 10.1

 

Facility
Amount Increase Request

 

August 18, 2021

 

To:     KeyBank
National Association, as Administrative Agent for the Lenders parties to the Amended and Restated
Revolving Credit and Security Agreement dated as of May 1, 2020 (as extended, renewed, amended or restated from time to time, the
“Credit Agreement”), among MC Income Plus Financing SPV LLC, a Delaware
limited liability company, as borrower (together with its permitted successors and assigns, the “Borrower”); Monroe
Capital Income Plus Corporation, a Maryland corporation, as the collateral manager (together with its permitted successors and
assigns, the “Collateral Manager”); the Lenders from time to time party thereto; KeyBank
National Association, as administrative agent (in such capacity, together with its successors and assigns, the “Administrative
Agent”); U.S. Bank National Association, as collateral agent; U.S.
Bank National Association, as document custodian; and U.S. Bank National Association,
as collateral administrator.

 

Ladies and Gentlemen:

 

The Borrower hereby refers
to the Credit Agreement and requests that the Administrative Agent consent to an increase in the Facility Amount (the “Facility
Amount Increase”), in accordance with Section 2.15 of the Credit Agreement, to be effected by the addition of Wintrust
Bank, N.A. ( “Wintrust”) and ING Capital LLC (“ING”, collectively with Wintrust, the “New
Lenders”) each as a Lender under the terms of the Credit Agreement. Capitalized terms used herein without definition shall have
the same meanings herein as such terms have in the Credit Agreement.

 

After giving effect to such
Facility Amount Increase, the Commitment of the New Lenders shall equal the amount specified on Schedule I attached hereto. For the avoidance
of doubt, after giving effect to this Facility Amount Increase, Schedule 1 to the Credit Agreement shall be as set forth on Schedule I
attached hereto and made a part hereof.

 

1.            Each
New Lender hereby confirms that it has received a copy of the Facility Documents and the exhibits related thereto, together with copies
of the documents which were required to be delivered under the Credit Agreement as a condition to the making of the Advances and other
extensions of credit thereunder. Each New Lender acknowledges and agrees that it has made and will continue to make, independently and
without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate,
its own credit analysis and decisions relating to the Credit Agreement. Each New Lender further acknowledges and agrees that the Administrative
Agent has not made any representations or warranties about the credit worthiness of the Borrower or any other party to the Credit Agreement
or any other Facility Document or with respect to the legality, validity, sufficiency or enforceability of the Credit Agreement or any
other Facility Document or the value of any security therefor.

 

     

     

    

 

2.            Except
as otherwise provided in the Credit Agreement, effective as of the date of acceptance hereof by the Administrative Agent, each New Lender
(i) shall be deemed automatically to have become a party to the Credit Agreement and the Lender Fee Letter and have all the rights
and obligations of a “Lender” under the Credit Agreement and the Lender Fee Letter as if it were an original signatory
thereto and (ii) agrees to be bound by the terms and conditions set forth in the Credit Agreement and the Lender Fee Letter as if
it were an original signatory thereto.

 

3.            Each
New Lender shall deliver to the Administrative Agent such information and shall complete such forms as are reasonably requested of such
New Lender by the Administrative Agent.

 

4.            Schedule
5 to the Credit Agreement shall be supplemented with the notice information of each New Lender set forth on Schedule II attached hereto
and made a part hereof.

 

This
Agreement shall be deemed to be a contractual obligation under, and shall be governed by and construed in accordance with, the laws of
the state of New York.

 

The Facility Amount Increase
shall be effective when the executed consent of the Administrative Agent and each affected Lender is received or otherwise in accordance
with Section 2.15 of the Credit Agreement, but not in any case prior to August 18, 2021. It shall be a condition to the
effectiveness of the Facility Amount Increase that all expenses referred to in Section 2.15 of the Credit Agreement shall
have been paid.

 

The Borrower hereby certifies
that no Default or Event of Default has occurred and is continuing.

 

Please indicate the Administrative
Agent’s consent to such Facility Amount Increase by signing the enclosed copy of this letter in the space provided below.

 

    -2-

     

    

 

	 	Very truly yours,
	 	 
	 	MC Income Plus Financing SPV LLC
	 	 
	 	By: Monroe Capital Income Plus Corporation, as Designated Manager
	 	 
	 	 
	 	By	 /s/ Aaron Peck
	 	 	Name: 	Aaron Peck
	 	 	Title: 	Authorized Signatory
	 	 
	 	Wintrust Bank, N.A.
	 	 
	 	 
	 	By	 /s/ Rob Dmowski
	 	 	Name: 	Rob Dmowski
	 	 	Title:	 SVP
	 	 
	 	ING Capital LLC
	 	 
	 	 
	 	By	 /s/ Patrick Frisch
	 	 	Name:	 Patrick Frisch
	 	 	Title:	 Managing Director
	 	 
	 	 
	 	By	 /s/ Dina Kook
	 	 	Name:	 Dina Kook
	 	 	Title:	 Director

 

[Signature Page to Facility Amount Increase
Request]

 

     

     

    

 

	The undersigned hereby consents on this 18th day of August, 2021, to the above-requested Facility Amount Increase.	 
	 
	KeyBank National Association, as Administrative Agent
	 	 
	By	 /s/ Richard Andersen	 
	 	Name	Richard Andersen	 
	 	Title	Senior Vice President	 

 

[Signature Page to Facility Amount Increase Request]

 

     

     

    

 

Schedule
I

 

Commitments
and Percentages

 

	Lender	 	Commitment	 	 	Percentage	 
	KeyBank National Association	 	$	100,000,000	 	 	 	29.0	%
	Hancock Whitney Bank	 	$	30,000,000	 	 	 	8.70	%
	Bank Leumi, USA	 	$	30,000,000	 	 	 	8.70	%
	The Huntington National Bank, as successor by merger to TCF National Bank	 	$	50,000,000	 	 	 	14.50	%
	First Foundation Bank	 	$	25,000,000	 	 	 	7.25	%
	Sterling National Bank	 	$	50,000,000	 	 	 	14.50	%
	Wintrust Bank, N.A.	 	$	20,000,000	 	 	 	5.80	%
	ING Capital LLC	 	$	40,000,000	 	 	 	11.60	%
	 	 	$	345,000,000	 	 	 	100	%

 

     

     

    

 

Schedule
II

 

Notice
Information

 

	
    If to Wintrust Bank, N.A.:

     
	
    Wintrust Bank, N.A.

    231 S. LaSalle Street, 2nd Fl

    Chicago, Illinois 60604

    Attn: Rob Dmowski

    Telephone No: (312) 291-2935

    E-mail: RDmowski@wintrust.com

 

	
    If to ING Capital LLC:

     
	
    ING Capital LLC

    1133 Avenue of the Americas

    New York, New York 10036

    Attn: Yocelin Tran

    Telephone No: (646) 424-8216

    E-mail: DL-NYCLoanAdministration@ing.comExhibit 10.1

 

Loan Agreement

 

This Agreement is entered into today, the 12th
day of April 2021 by and between Bannix Acquisition Corp., a company duly incorporated under the laws of Delaware with its
office at 300 Tice Boulevard Suite 315, Woodcliff Lake, NJ 07677, hereinafter called “Borrower” of the FIRST
PART

 

And

 

Seema Rao, residing at 18, Gina Way,
Welcome Bay, Tauranga 3112, New Zealand hereinafter called “Lender” of the SECOND PART

 

WHEREAS the Borrower is desirous of availing
and the lender is willing to extend, a loan.

 

NOW THEREFORE, in consideration of the mutual
promises set forth below, the Borrower and the Lender agree as follows:

 

1. The Lender shall extend an interest free
loan of US$270,000 to the Borrower.

 

2. The Borrower shall repay the same within
6 months from the date of this Agreement or issue shares/warrants against the same.

 

3. The Borrower has the right to prepay the
loan to the Lender at any point in time without any prepayment fee.

 

4. In the event of a successful Offering, this
loan need not be repaid.

 

IN WITNESS WHEREOF, the parties hereto have
executed this Loan Agreement.

 

	Bannix Acquisition Corp.	 	Seema Rao
	 	 	 	 
	Date: 	April 12, 2021	 	Date: 	April 12, 2021
	 	 	 	 
	Signature:	/s/	 	Signature:	/s/
	 	 	 	 
	Name:	Subash Menon	 	 
	 	 	 	 
	Designation:	 CEO	 	 

 

    	 

    	 

    

  

Promissory Note Agreement

 

This Agreement is entered into today, the 12th
day of April 2021 by and between Bannix Acquisition Corp., a company duly incorporated under the laws of Delaware with its
office at 300 Tice Boulevard Suite 315, Woodcliff Lake, NJ 07677, hereinafter called “Borrower” of the FIRST
PART

 

And

 

Suresh Yezhuvath, residing at Flat No.
108, Al Nabooda B Block, Oud Mehta, Dubai hereinafter called “Lender” of the SECOND PART

 

WHEREAS the Borrower is desirous of availing
and the lender is willing to extend, a loan in the form of a promissory note.

 

NOW THEREFORE, in consideration of the mutual
promises set forth below, the Borrower and the Lender agree as follows:

 

	 	1.	The Lender shall extend an interest free loan of US$300,000 to the Borrower, in the form of a promissory note.

 

		2.	The Borrower is permitted to draw down against this note as per their
requirement and convenience.

 

		3.	In the event of a successful Proposed Public Offering (as defined
in the S-1 of the Borrower), the note will be repaid as follows:

 

	 	a.	Against the amount of $300,000; 30,000 Private Placement Units will be issued.

 

		4.	In the event of the Proposed Public Offering failing to materialize,
the note will not be repayable by the Borrower and the same will be considered as capital contribution without any additional securities
being issued.

 

		5.	This agreement amends the agreement dated 15th February,
2021.

 

IN WITNESS WHEREOF, the parties hereto have
executed this Loan Agreement.

 

	Bannix Acquisition Corp.	 	Suresh Yezhuvath
	 	 	 	 
	Date: 	April 12, 2021	 	Date: 	April 12, 2021
	 	 	 	 
	Signature:	/s/	 	Signature:	/s/
	 	 	 	 
	Name:	Subash Menon	 	 
	 	 	 	 
	Designation:	 CEO	 	 

  

    	 

    	 

    

 

Revised Loan Agreement

 

This Agreement is entered into today, the 18th
of August 2021 by and between Bannix Acquisition Corp., a company duly incorporated under the laws of Delaware with
its office at 300, Tice Boulevard, Suite 315, Woodcliff Lake, NJ 07677, hereinafter called “Borrower” of the FIRST
PART

 

and

 

Suresh Yezhuvath, residing at Flat No.
108, Al Naboodah Building, B Block, Oud Mehta, Dubai, UAE acting together and hereinafter called “Lender” of
the SECOND PART

 

WHEREAS the Borrower has previously entered into
a Loan Agreement with Lender.

 

WHEREAS, the parties wish to amend and restate
the terms of this Loan Agreement.

 

NOW THEREFORE, in consideration of the mutual
promises set forth below, the Borrower and the Lender agree as follows:

 

	 	1.	The Lender shall extend an unsecured, interest free loan of up to $1,030,000.

 

		2.	The
                                                                                                     Borrower is permitted to
                                                                                                     draw down up to $805,000
                                                                                                     against this loan as
                                                                                                     per their requirement and
                                                                                                     convenience. The balance
                                                                                                     $225,000 may be drawn
                                                                                                     down only in the event of
                                                                                                     over-allotment.

 

		3.	In the event of a successful Proposed Public Offering (as defined
in the S-1 of the Borrower), the loan will be repaid/forfeited as follows:

 

	 	a.	Against the first $730,000 of loan, 175,000 Private Placement Units will be issued.

 

		b.	Against
                                            the next $75,000 of loan, 20,000 Private Placement Units will be issued if the over-allotment
                                            is subscribed in full. If not, this amount will be forfeited, not repaid and no securities
                                            will be issued against it.

 

		c.	The balance $225,000 of loan will be forfeited and not repaid. 

 

	 	4.	In the event of the Proposed Public Offering
failing to materialize, the loan will not be repayable by the Borrower and the same will be considered as capital contribution
without any additional securities being issued.

 

IN WITNESS WHEREOF, the parties hereto have
executed this Loan Agreement.

 

For Bannix Acquisition Corp.

 

Date: August 18, 2021

 

 

 

Signature: 

 

Name:   Subash Menon

 

Designation: Chief Executive Officer

 

 

 

Signature: 

 

Name:   Suresh Yezhuvath

 

Date: August 18, 2021

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