SEC Contract Filing

Filing Date: 2022-03-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>2
<FILENAME>azyo-20211231xex10d3.htm
<DESCRIPTION>EX-10.3
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.11.0.85--><!--Created on: 3/8/2022 09:13:57 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 0pt 12pt 0pt;"><b style="font-size:11pt;font-weight:bold;">Exhibit 10.3</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:11pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">AMENDMENT NO. 2 TO AMENDED AND RESTATED CREDIT AND SECURITY AGREEMENT (REVOLVING LOAN)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:11pt;">This AMENDMENT NO. 2 TO AMENDED AND RESTATED CREDIT AND SECURITY AGREEMENT (REVOLVING LOAN) (this &#8220;</font><b style="font-size:11pt;font-weight:bold;">Agreement</b><font style="font-size:11pt;">&#8221;) is made as of January 21, 2022, by and among </font><b style="font-size:11pt;font-weight:bold;">AZIYO BIOLOGICS, INC.</b><font style="font-size:11pt;">, a Delaware corporation (&#8220;</font><b style="font-size:11pt;font-weight:bold;">Aziyo</b><font style="font-size:11pt;">&#8221;), </font><b style="font-size:11pt;font-weight:bold;">AZIYO MED, LLC</b><font style="font-size:11pt;">, a Delaware limited liability company (&#8220;</font><b style="font-size:11pt;font-weight:bold;">Aziyo Med</b><font style="font-size:11pt;">&#8221;, and Aziyo Med, together with Aziyo, each individually, a &#8220;</font><b style="font-size:11pt;font-weight:bold;">Borrower</b><font style="font-size:11pt;">&#8221; and collectively, the &#8220;</font><b style="font-size:11pt;font-weight:bold;">Borrowers</b><font style="font-size:11pt;">&#8221;), </font><b style="font-size:11pt;font-weight:bold;">MIDCAP FUNDING IV TRUST</b><font style="font-size:11pt;">, a Delaware statutory trust, as Agent (in such capacity, together with its successors and assigns, &#8220;</font><b style="font-size:11pt;font-weight:bold;">Agent</b><font style="font-size:11pt;">&#8221;) and the other financial institutions or other entities from time to time parties to the Credit Agreement referenced below, each as a Lender.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:11pt;font-weight:bold;">RECITALS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;text-align:justify;">A.</font></font><font style="font-size:11pt;">Agent, Lenders and Borrowers have entered into that certain Amended and Restated Credit and Security Agreement (Revolving Loan), dated as of July 15, 2019 (as amended by that certain Amendment No. 1 to Amended and Restarted Credit and Security Agreement (Revolving Loan), dated as of September 26, 2020 and as further amended, modified, supplemented and restated prior to the date hereof, the &#8220;</font><b style="font-size:11pt;font-weight:bold;">Existing Credit Agreement</b><font style="font-size:11pt;">&#8221; and as the same is amended hereby and as it may be further amended, modified, supplemented and restated from time to time, the &#8220;</font><b style="font-size:11pt;font-weight:bold;">Credit Agreement</b><font style="font-size:11pt;">&#8221;), pursuant to which the Lenders have agreed to make certain advances of money and to extend certain financial accommodations to Borrowers in the amounts and manner set forth in the Credit Agreement.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;text-align:justify;">B.</font></font><font style="font-size:11pt;">Borrowers have requested, and Agent and Lenders constituting at least the Required Lenders have agreed, to amend certain provisions of the Existing Credit Agreement, in each case, in accordance with the terms and subject to the conditions set forth herein.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:11pt;font-weight:bold;">AGREEMENT</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:11pt;">NOW, THEREFORE, in consideration of the foregoing, the terms and conditions set forth in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Agent, Required Lenders and Borrowers hereby agree as follows:</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#010000;font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;text-align:justify;">1.</font></font><b style="font-size:11pt;font-weight:bold;text-decoration:underline;text-decoration-color:#0000