SEC Contract Filing

Filing Date: 2020-05-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex101q12020.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="s4c28df708af54630ba168f2c14fc6074"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Exhibit 10.1 </font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">FIFTH AMENDMENT TO </font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">LOAN AND SECURITY AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This FIFTH AMENDMENT TO LOAN AND SECURITY Agreement (this &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Amendment</font><font style="font-family:inherit;font-size:12pt;">&#8221;) is entered into as of February 27, 2020, by and among TRUPANION, INC., a Delaware corporation (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Trupanion</font><font style="font-family:inherit;font-size:12pt;">&#8221;), TRUPANION MANAGERS USA, INC., an Arizona corporation (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Trupanion Managers</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and 6100 BUILDING, LLC (formerly known as Trupanion-APIC, LLC), a Washington limited liability company (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">6100 Building</font><font style="font-family:inherit;font-size:12pt;">&#8221;); together with Trupanion and Trupanion Managers, individually and collectively, &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Borrower</font><font style="font-family:inherit;font-size:12pt;">&#8221;), the several banks and other financial institutions or entities from time to time party to the Agreement (as hereinafter defined) (each a &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Lender</font><font style="font-family:inherit;font-size:12pt;">&#8221; and, collectively, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Lenders</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and PACIFIC WESTERN BANK, a California state chartered bank (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">PWB</font><font style="font-family:inherit;font-size:12pt;">&#8221;), as a Lender and as administrative agent and collateral agent for the Lenders (in such capacities, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Administrative Agent</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">RECITALS</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:27px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:-2px;"><font style="font-family:inherit;font-size:10pt;">A.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Trupanion, Trupanion Managers, the Administrative Agent, and the Lenders are parties to that certain Loan and Security Agreement dated as of December 16, 2016 (as amended from time to time, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:27px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:-2px;"><font style="font-family:inherit;font-size:10pt;">B.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">6100 Building was added as a co-borrower to the Loan Documents, on a joint and several basis, pursuant to that certain Joinder to Loan and Security Agreement dated as of August 6, 2018.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:27px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:-2px;"><font style="font-family:inherit;font-size:10pt;">C.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Borrower has requested that the Administrative Agent and the Lenders amend the Agreement in accordance with the terms of this Amendment.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="