SEC Contract Filing

Filing Date: 2021-04-26

Document Content:
<DOCUMENT>
<TYPE>EX-10.85
<SEQUENCE>8
<FILENAME>tm2112095d6_ex10-85.htm
<DESCRIPTION>EXHIBIT 10.85
<TEXT>
<HTML>
<HEAD>
 <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

 <P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt"></P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 5in"><B>Exhibit 10.85</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin: 0pt 0; text-indent: 5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 5in"><FONT STYLE="font-size: 10pt"><B>Execution
Version</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center">SECOND LIEN PLEDGE AND SECURITY AGREEMENT,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center">dated as of April 22, 2021,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center">among</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center">LANNETT COMPANY, INC.,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center">as the Borrower,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center">each Guarantor from time to time party hereto,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center">and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center">ALTER DOMUS (US) LLC,<BR>
as Administrative Agent and Collateral Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 5in">Pledge and Security Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center"></P>

<!-- Field: Page; Sequence: 1 -->
 <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
 <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
 <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
 <TR STYLE="vertical-align: top">
 <TD>&nbsp;</TD>
 <TD STYLE="text-align: center"><B>TABLE OF CONTENTS</B></TD>
 <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
 <TR STYLE="vertical-align: top">
 <TD>&nbsp;</TD>
 <TD>&nbsp;</TD>
 <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
 <TR STYLE="vertical-align: top">
 <TD>&nbsp;</TD>
 <TD>&nbsp;</TD>
 <TD STYLE="text-align: center; vertical-align: bottom"><B>Page</B></TD></TR>
 <TR STYLE="vertical-align: top">
 <TD>&nbsp;</TD>
 <TD>&nbsp;</TD>
 <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
 <TR STYLE="vertical-align: top">
 <TD STYLE="width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Article I.</FONT></TD>
 <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DEFINITIONS</FONT></TD>
 <TD STYLE="text-align: right; width: 5%; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
 <TR STYLE="vertical-align: top">
 <TD>&nbsp;</TD>
 <TD>&nbsp;</TD>
 <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
 <TR STYLE="vertical-align: top">
 <TD STYLE="text-align: right; padding-left: 10pt; width: 12%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 1.01</FONT></TD>
 <TD STYLE="padding-left: 32pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit Agreement</FONT></TD>
 <TD STYLE="text-align: right; vertical-align: bottom; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
 <TR STYLE="vertical-align: top">
 <TD STYLE="padding-left: 10pt">&nbsp;</TD>
 <TD>&nbsp;</TD>
 <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
 <TR STYLE="vertical-align: top">
 <TD STYLE="text-align: right; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 1.02</FONT></TD>
 <TD STYLE="padding-left: 32pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other Defined Terms</FONT></TD>
 <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
 <TR STYLE="vertical-align: top">
 <TD STYLE="padding-left: 10pt">&nbsp;</TD>
 <TD>&nbsp;</TD>
 <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 1