SEC Contract Filing

Filing Date: 2024-06-10

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ef20030942_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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 <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> <font style="font-style: normal; font-weight: bold;">Exhibt 10.1</font><br>
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 <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Execution Copy</div>
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 <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">CONSENT AGREEMENT</div>
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 <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; text-indent: 36pt;">THIS CONSENT AGREEMENT (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Agreement</u></font>&#8221;) dated as of June 7, 2024 (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Effective</u></font>&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Date</u></font>&#8221;) is entered into among (a) VENUS CONCEPT USA INC., a Delaware corporation (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Borrower</u></font>&#8221;), (b) VENUS CONCEPT INC., a Delaware corporation (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Venus Concept</u></font>&#8221;), (c) VENUS CONCEPT
 CANADA CORP., a corporation incorporated under the laws of the Province of Ontario (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Venus Canada</u></font>&#8221;), (d) VENUS CONCEPT LTD., a company formed under the Companies Law of
 Israel &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Venus Israel</u></font>&#8221; and, together with Venus Concept and Venus Canada, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Guarantors</u></font>&#8221;; the
 Borrower and the Guarantors shall be referred to herein, collectively, as the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Loan Parties</u></font>&#8221;), and (e) each of (i) MADRYN HEALTH PARTNERS, LP, a Delaware limited partnership
 (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Madryn Health</u></font>&#8221;) and (ii) MADRYN HEALTH PARTNERS (CAYMAN MASTER), LP, a Cayman Islands limited partnership (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Madryn
 Cayman</u></font>&#8221; and, together with Madryn Health, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Lenders</u></font>&#8221;; together the Lender and the Loan Parties are hereinafter referred to as the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Parties</u></font>&#8221;). Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Loan Agreement (as defined below).</div>
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 <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; text-indent: 36pt;">WHEREAS, CITY NATIONAL BANK OF FLORIDA (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>CNB</u></font>&#8221;) and the Borrower were
 parties to that certain Loan and Security Agreement (Main Street Priority Loan), dated as of December 8, 2020 (as amended, restated, supplemented, waived or otherwise modified from time to time, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Loan</u></font>&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Agreement</u></font>&#8221;), between CNB, as lender, and Borrower, pursuant to which CNB provided Borrower a term loan in the principal amount of Fifty
 Million Dollars ($50,000,000.00) (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Loan</u></font>&#8221;) issued pursuant to the Main Street Priority Loan Facility, all upon certain terms and conditions set forth in the Loan
 Agreement and in the other Loan Documents (as defined in the Loan Agreement);</div>
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 <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; text-indent: 36pt;">WHEREAS, to evidence Borrower&#8217;s repayment obligations under the Loan Agreement, Borrower executed a Promissory Note in favor of CNB dated December 8,
 2020 (as amended, amended and restated, supplemented, waived, exchanged or otherwise modified from time to time, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Original</u></font>&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Note</u></font>&#8221;), in the original principal amount of $50,000,000.00;</div>
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 <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; text-indent: 36pt;">WHEREAS, in connection with the Loan, the Venus Concept and Venus Canada previously issued a Guaranty of Payment and Performance, originally dated as
 of December 8, 2020, in favor of the Lender (as amended, restated, amended and restated, supplemented or otherwise modified from time to time prior to the date hereof, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Main Street
 Guaranty</u></font>&#8221;);</div>
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