SEC Contract Filing

Filing Date: 2016-06-30

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>a16-11706_2ex10d1.htm
<DESCRIPTION>EX-10.1
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.1</font></b></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Execution Version</font></i></b></p>
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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">LOAN AND SECURITY AGREEMENT</p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">THIS LOAN AND SECURITY AGREEMENT is made and dated as of </font>June&nbsp;27, 2016 and is entered into by and between PLUG POWER INC., a Delaware corporation, EMERGING POWER INC., a Delaware corporation, EMERGENT POWER INC., a Delaware corporation and each of their Qualified Subsidiaries (hereinafter collectively referred to as the &#147;Borrower&#148;), the several banks and other financial institutions or entities from time to time parties to this Agreement (collectively, referred to as &#147;Lender&#148;) and HERCULES CAPITAL,&nbsp;INC., formerly known as Hercules Technology Growth Capital,&nbsp;Inc., a Maryland corporation, in its capacity as administrative agent and collateral agent for itself and the Lender (in such capacity, the &#147;Agent&#148;).</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">RECITALS</font></b></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Borrower has requested Lender to make available to Borrower a loan in an aggregate principal amount of up to </font>Forty Million Dollars ($40,000,000) (the &#147;Term Loan&#148;); and</p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Lender is willing to make the Term Loan on the terms and conditions set forth in this Agreement.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AGREEMENT</font></b></p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW, THEREFORE, Borrower, Agent and Lender agree as follows:</font></p>
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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SECTION&nbsp;1.&#160; </font></b><b><u style="font-weight:bold;">DEFINITIONS AND RULES OF CONSTRUCTION</u></b></p>
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<p style="margin:0in 0in .0001pt 27.0pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Unless otherwise defined herein, the following capitalized terms shall have the following meanings:</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;Account Control Agreement(s)&#148; means any agreement entered into by and among the Agent, Borrower and a third party Bank or other institution (including a Securities Intermediary) in which Borrower maintains a Deposit Account or an account holding Investment Property and which grants Agent a perfected first priority security interest in the subject account or accounts.</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;ACH Authorization&#148; means the ACH Debit Authorization Agreement delivered by Borrower in substantially the form of Exhibit&nbsp;H, which account numbers shall be redacted for security purposes if and when filed publicly by the Borrower.</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;Additional Project Document&#148; shall mean any mater