SEC Contract Filing

Filing Date: 2016-02-25

Document Content:
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<TYPE>EX-10.4(F)
<SEQUENCE>2
<FILENAME>rlyp-ex104f_743.htm
<DESCRIPTION>EX-10.4(F)
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.4(f)</p>
<p style="text-align:center;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">FIFTH AMENDMENT</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">TO</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">LOAN AND SECURITY AGREEMENT</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This FIFTH AMENDMENT TO LOAN AND SECURITY AGREEMENT (this &#8220;Amendment&#8221;) is entered into as of December 17, 2015, by and between Silicon Valley Bank (&#8220;Bank&#8221;) and Relypsa, Inc., a Delaware corporation (&#8220;Borrower&#8221;), whose address is 100 Cardinal Way, Redwood City, California 94063.</p>
<p style="text-align:center;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-variant: small-caps;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;">Recitals</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">A.<font style="font-weight:normal;"> Bank and Borrower have entered into that certain Loan and Security Agreement dated as of May 2, 2013 (as the same has been and may from time to time be further amended, modified, supplemented or restated, the &#8220;Loan Agreement&#8221;).</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">B.<font style="font-weight:normal;"> Bank has extended credit to Borrower for the purposes permitted in the Loan Agreement.</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">C.<font style="font-weight:normal;"> Borrower has requested that Bank amend the Loan Agreement to (i) permit Borrower to incur Indebtedness relating to surety bonds and (ii) make certain other revisions to the Loan Agreement as more fully set forth herein.</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">D.<font style="font-weight:normal;"> Bank has agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below.</font></p>
<p style="text-align:center;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-variant: small-caps;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;">Agreement</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">N<font style="font-variant: small-caps;">ow</font>, T<font style="font-variant: small-caps;">herefore</font>,<font style="font-weight:normal;"> in consideration of the foregoing recitals and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1. Definitions.<font style="font-weight:normal;">&nbsp;&nbsp;Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan Agreement.</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">2. Amendments to Loan Agreement.</p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:9.06%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">2.1 Section 6.5 (Operating Accounts<font style="font-weight:normal;">).&nbsp;&nbsp;Section 6.5 is amended by adding the following sentence to the end thereof:</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:4.54%;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notwithstanding the foregoing, Borrower may maintain a deposit account with Wells Fargo Bank, N.A. so long as (i) such deposit account is used solely to facilitate the terms and conditions of a Direct Payment Services Agreement by and between Borrower and PharmaMetrics, Inc. and (ii) the balance of such deposit ac