SEC Contract Filing

Filing Date: 2024-05-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>8
<FILENAME>rubicontech_ex10-6.htm
<DESCRIPTION>EXHIBIT 10.6
<TEXT>
<HTML>
<HEAD>
 <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Exhibit 10.6</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U><FONT STYLE="text-transform: uppercase">SIXTH AMENDMENT</FONT><FONT STYLE="text-transform: uppercase"> to</FONT> LOAN AND SECURITY AGREEMENT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This SIXTH AMENDMENT TO LOAN AND SECURITY AGREEMENT (this &ldquo;<B>Agreement</B>&rdquo;) is made as of May&nbsp;7, 2024, by and among RUBICON TECHNOLOGIES HOLDINGS, LLC, a Delaware limited liability company (&ldquo;<B>Holdings</B>&rdquo;), RUBICON TECHNOLOGIES INTERNATIONAL, INC., a Delaware corporation, RUBICON GLOBAL, LLC, a Delaware limited liability company, CLEANCO LLC, a New Jersey limited liability company, CHARTER WASTE MANAGEMENT, INC., a Delaware corporation, RIVERROAD WASTE SOLUTIONS, INC., a New Jersey corporation (each individually as a &ldquo;<B>Borrower</B>&rdquo;, and collectively as &ldquo;<B>Borrowers</B>&rdquo;), RUBICON TECHNOLOGIES, INC., a Delaware corporation (&ldquo;<B>Parent</B>&rdquo;), MIZZEN CAPITAL, LP, as agent for the Lenders (in such capacity, together with its successors and assigns, &ldquo;<B>Agent</B>&rdquo;) and the other financial institutions or other entities from time to time parties to the Credit Agreement referenced below, each as a Lender, constituting the Required Lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>RECITALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">A.&nbsp;Agent, Lenders, Borrowers and Parent have entered into that certain Loan and Security Agreement dated as of December&nbsp;22, 2021 (as previously amended, restated, supplemented or otherwise modified prior to the date hereof, the &ldquo;<B>Original Credit Agreement</B>&rdquo; and as amended hereby and as it may be further amended, modified, supplemented and restated from time to time, the &ldquo;<B>Credit Agreement</B>&rdquo;), pursuant to which the Lenders have agreed to make certain advances of money and to extend certain financial accommodations to Borrowers in the amounts and manner set forth in the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">B.&nbsp;Borrower Representative has advised the Lenders that pursuant to the Asset Purchase Agreement (the &ldquo;<B>Purchase Agreement</B>&rdquo;), attached hereto as Annex B, dated as of the date hereof, by and among Parent, Holdings and Wastech Corp., it intends to make an Asset Disposition of the Purchased Assets (as defined in the Purchase Agreement) (such disposition, the &ldquo;<B>Purchased Assets Disposition</B>&rdquo;) and to make a Distribution to Parent in the amount of $3,178,813.50 to pay transaction expenses (the &ldquo;<B>Purchase Agreement Distribution</B>&rdquo;), which Asset Disposition is prohibited under Section&nbsp;5.6 of the Credit Agreement unless such Asset Disposition constitutes a Permitted Asset Disposition and which Distribution is prohibited under Section&nbsp;5.3 of the Credit Agreement unless such Distribution constitutes a Permitted Distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">C.&nbsp;Borrower Representative has further advised the Lenders that pursuant to that certain Securities Purchase Agreement (the &ldquo;<B>Bridge Facility</B>&rdquo;) on terms substantially similar to those set forth on Annex C attached hereto, dated as of the date hereof, by and among Parent and MBI Holdings, LP, it intends to obtain not less than $20,000,000 in gross cash proceeds of preferred equity financing consisting of the purchase of preferred stock of the Borrower Representative not constituting Disqualified Equity Interests (the &ldquo;<B>Bridge Preferred Equity</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">D.&nbsp;Borrower Representative has requested, and Agent and the Lenders party hereto, which collectively constitute at least the Required Lenders, have agreed, to, inter alia, amend certain provisions of the Existing Credit Agreement, all in accordance with the terms and subject to the conditions set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in consideration of the foregoing, the terms and conditions set forth in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Agent, Lenders, Borrowers and Parent hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<!-- Field: Page; Se