SEC Contract Filing

Filing Date: 2021-03-12

Document Content:
<DOCUMENT>
<TYPE>EX-10.15.13
<SEQUENCE>3
<FILENAME>aspn-ex101513_173.htm
<DESCRIPTION>EX-10.15.13
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aspn-ex101513_173.htm
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Exhibit&#160;10.15.13</p>
<p style="text-align:center;margin-bottom:3pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-size:10pt;text-transform:uppercase;font-family:Times New Roman;font-style:normal;font-variant: normal;">SECOND AMENDED AND RESTATED</p>
<p style="margin-top:0pt;text-align:center;margin-bottom:3pt;text-indent:0%;font-weight:bold;font-size:10pt;text-transform:uppercase;font-family:Times New Roman;font-style:normal;font-variant: normal;">LOAN AND SECURITY AGREEMENT</p>
<p style="margin-bottom:12pt;margin-top:12pt;text-indent:7.69%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">THIS SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT<font style="font-weight:normal;"> (this &#8220;</font>Agreement<font style="font-weight:normal;">&#8221;) dated as of March 12, 2021 (the &#8220;</font>Effective Date<font style="font-weight:normal;">&#8221;) between </font>SILICON VALLEY BANK<font style="font-weight:normal;">, a California corporation (&#8220;</font>Bank<font style="font-weight:normal;">&#8221;), and </font>ASPEN AEROGELS, INC.<font style="font-weight:normal;">, a Delaware corporation (&#8220;</font>Borrower<font style="font-weight:normal;">&#8221;), provides the terms on which Bank shall lend to Borrower and Borrower shall repay Bank.&nbsp;&nbsp;This Agreement amends and restates in its entirety that certain Amended and Restated Loan and Security Agreement dated as of September 3, 2014, as amended by that certain Consent and First Amendment to Amended and Restated Loan and Security Agreement dated as of August 19, 2016, as further amended by that certain Second Amendment to Amended and Restated Loan and Security Agreement dated as of November 23, 2016, as further amended by that certain Third Amendment to Amended and Restated Loan and Security Agreement dated as of December 29, 2016, as further amended by that certain Fourth Amendment to Amended and Restated Loan and Security Agreement dated as of January 27, 2017, as further amended by that certain Fifth Amendment to Amended and Restated Loan and Security Agreement dated as of September 27, 2017, as further amended by that certain Consent and Sixth Amendment to Amended and Restated Loan and Security Agreement dated as of January 25, 2018, as further amended by that certain Seventh Amendment to Amended and Restated Loan and Security Agreement dated as of April 25, 2018, as further amended by that certain Eighth Amendment to Amended and Restated Loan and Security Agreement and First Amendment to Preemptive Forbearance and Conditional Waiver Agreement dated as of November 30, 2018, as further amended by that certain Ninth Amendment to Amended and Restated Loan and Security Agreement dated as of March 4, 2019, as further amended by that certain Tenth Amendment to Amended and Restated Loan and Security Agreement dated as of March 3, 2020, as further amended by that certain Eleventh Amendment to Amended and Restated Loan and Security Agreement dated as of September 25, 2020, and as further amended by that certain Twelfth Amendment to Amended and Restated Loan and Security Agreement dated as of December 24, 2020 (as amended, and as the same may from time to time be further amended, restated, amended and restated, modified and/or supplemented, the &#8220;</font>Prior Loan Agreement<font style="font-weight:normal;">&#8221;).&nbsp;&nbsp;The parties agree as follows:</font></p>
<p style="text-align:left;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">1</font><font style="font-size:10pt;font-weight:normal;margin-left:36pt;color:#000000;"></font><font style="font-size:10pt;font-weight:normal;color:#000000;">ACCOUNTING AND OTHER TERMS</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Accounting terms not defined in this Agreement shall be construed following GAAP.&nbsp;&nbsp;Calculations and determinations must be made following GAAP.&nbsp;&nbsp;Capitalized terms not otherwise defined in this Agreement shall have the meanings set forth in Section&#160;13.&nbsp;&nbsp;All other terms contained in this Agreement, unless otherwise indicated, shall have the meaning provided by the Code to the extent such terms are defined therein.</p>
<p style="text-align:left;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">2</font><font style="font-size:10pt;font-weight:normal;margin-left:36pt;color:#000000;"></font><font style="font-size:10pt;font-weight:normal;color:#000000;">LOAN AND TERMS OF PAYMENT</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-style:normal;color:#auto;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">2.1</fo