SEC Contract Filing

Filing Date: 2022-08-08

Document Content:
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<TYPE>EX-10.5
<SEQUENCE>3
<FILENAME>dtil-ex105_250.htm
<DESCRIPTION>EX-10.5
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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:11pt;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.5</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-weight:bold;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SEVENTH AMENDMENT</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-weight:bold;font-family:Times New Roman;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-size:11pt;font-weight:bold;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">LOAN</font><font style="text-decoration:underline;letter-spacing:-0.65pt;"> </font><font style="text-decoration:underline;">AND</font><font style="text-decoration:underline;letter-spacing:-0.6pt;"> </font><font style="text-decoration:underline;">SECURITY</font><font style="text-decoration:underline;letter-spacing:-0.65pt;"> </font><font style="text-decoration:underline;">AGREEMENT</font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:7.13%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This<font style="letter-spacing:-0.65pt;"> </font>Seventh<font style="letter-spacing:-0.55pt;"> </font>Amendment<font style="letter-spacing:-0.6pt;"> </font>to<font style="letter-spacing:-0.4pt;"> </font>Loan<font style="letter-spacing:-0.65pt;"> </font>and<font style="letter-spacing:-0.5pt;"> </font>Security<font style="letter-spacing:-0.5pt;"> </font>Agreement<font style="letter-spacing:-0.6pt;"> </font>(this<font style="letter-spacing:-0.6pt;"> </font>&#8220;<font style="font-weight:bold;font-style:italic;">Amendment</font>&#8221;)<font style="letter-spacing:-0.55pt;"> </font>is<font style="letter-spacing:-0.6pt;"> </font>entered<font style="letter-spacing:-0.5pt;"> </font>into<font style="letter-spacing:-0.5pt;"> </font>as<font style="letter-spacing:-0.6pt;"> </font>of<font style="letter-spacing:-0.65pt;"> </font>May 27, 2022,<font style="letter-spacing:-0.55pt;"> </font>by<font style="letter-spacing:-0.65pt;"> </font>and<font style="letter-spacing:-0.5pt;"> </font>among PACIFIC WESTERN BANK, a California state-chartered bank (&#8220;<font style="font-weight:bold;font-style:italic;">Bank</font>&#8221;), PRECISION BIOSCIENCES, INC. (&#8220;<font style="font-weight:bold;font-style:italic;">Precision</font>&#8221;), and PRECISION PLANTSCIENCES, INC. f/k/a ELO LIFE SYSTEMS, INC. (&#8220;<font style="font-weight:bold;font-style:italic;">PlantSciences</font>&#8221; or &#8220;<font style="font-weight:bold;font-style:italic;">ELO</font>&#8221;, and individually and collectively, jointly and severally, with Precision, &#8220;<font style="font-weight:bold;font-style:italic;">Borrower</font>&#8221;).</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:40.93%;margin-right:40.87%;text-indent:0%;font-size:11pt;letter-spacing:-0.1pt;font-weight:bold;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">RECITALS</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:7.14%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Borrower and Bank are parties to that certain Loan and Security Agreement dated as of May<font style="letter-spacing:-0.05pt;"> </font>15, 2019 (as has been and may be further amended, restated, supplemented, or otherwise modified from time to time, the &#8220;<font style="font-weight:bold;font-style:italic;">Agreement</font>&#8221;).<font style="letter-spacing:2pt;"> </font>The parties desire to amend the Agreement in accordance with the terms of this Amendment.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">NOW,<font style="letter-spacing:-0.3pt;"> </font>THEREFORE,<font style="letter-spacing:-0.25pt;"> </font>the<font style="letter-spacing:-0.3pt;"> </font>parties<font style="letter-spacing:-0.3pt;"> </font>agree<font style="letter-spacing:-0.3pt;"> </font>as<font style="letter-spacing:-0.25pt;"> </font><font style="letter-spacing:-0.1pt;">follows:</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;">&nbsp;</p>
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