SEC Contract Filing

Filing Date: 2022-03-11

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>agrx-20220310xex10d1.htm
<DESCRIPTION>EX-10.1
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.11.0.85--><!--Created on: 3/11/2022 07:55:21 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;min-height:36pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="display:inline-block;width:50%;">&#9;</font></font><font style="display:block;height:1px;left:0pt;position:absolute;width:100%;z-index:0;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;text-align:left;">Exhibit 10.1</font></font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times';font-size:12pt;font-variant:small-caps;font-weight:bold;line-height:14pt;text-align:center;margin:0pt;">Waiver and Third Amendment to Credit Agreement and Guaranty</p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:36pt;margin:14pt 0pt 0pt 0pt;">This Waiver and Third Amendment to Credit Agreement and Guaranty (herein, this <i style="font-style:italic;">&#8220;Agreement&#8221;</i>) is entered into as of March 10, 2022 (the &#8220;<i style="font-style:italic;">Third Amendment Effective Date</i>&#8221;), by and among Agile Therapeutics, Inc., a Delaware corporation (the &#8220;<i style="font-style:italic;">Borrower</i>&#8221;), the Lenders party hereto (each a <i style="font-style:italic;">&#8220;Lender&#8221;</i> and collectively, the &#8220;<i style="font-style:italic;">Lenders&#8221;</i>) and Perceptive Credit Holdings III, LP, a Delaware limited partnership, as a lender and as administrative agent for the Lenders (in such capacity, together with its successors and assigns, the &#8220;<i style="font-style:italic;">Administrative Agent</i>&#8221;).</p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:center;text-indent:36pt;margin:14pt 0pt 0pt 0pt;"><b style="font-variant:small-caps;font-weight:bold;letter-spacing:2pt;">Recital</b><b style="font-variant:small-caps;font-weight:bold;">s</b><b style="font-weight:bold;">:</b></p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:0pt;margin:14pt 0pt 0pt 0pt;"><font style="display:inline-block;text-align:left;width:35.13pt;"></font>A.<font style="display:inline-block;width:15.1pt;"></font>The Lenders have extended credit to the Borrower on the terms and conditions set forth in that certain Credit Agreement and Guaranty, dated as of February 10, 2020 (as amended by that certain Waiver and First Amendment to Credit Agreement and Guaranty dated as of February 26, 2021 and that certain Waiver and Second Amendment to Credit Agreement and Guaranty dated as of January 7, 2022, the <i style="font-style:italic;">&#8220;Existing</i> <i style="font-style:italic;">Credit Agreement&#8221;</i>; the Existing Credit Agreement as amended by this Agreement, the &#8220;<i style="font-style:italic;">Credit Agreement</i>&#8221;). &#160; </p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:0pt;margin:14pt 0pt 0pt 0pt;"><font style="display:inline-block;text-align:left;width:32.8pt;"></font>B. <font style="display:inline-block;width:15.1pt;"></font>Pursuant to Section 8.01(b) of the Credit Agreement, the Borrower is required to deliver annual financial statements that are not subject to any &#8220;&#8216;going concern&#8217; or like qualification or exception&#8221; (the &#8220;Going Concern Requirement&#8221;). &#160;</p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:0pt;margin:14pt 0pt 0pt 0pt;"><font style="display:inline-block;text-align:left;width:32.8pt;"></font>C. <font style="display:inline-block;width:15.1pt;"></font>The Borrower has advised the Administrative Agent that it will not be able to deliver financial statements for the year-ending December 31, 2021 that satisfy the Going Concern Requirement (the &#8220;Specified Obligation&#8221;).</p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:0pt;margin:14pt 0pt 0pt 0pt;"><font style="display:inline-block;text-align:left;width:32.13pt;"></font>D. <font style="display:inline-block;width:15.1pt;"></font>The Borrower has requested that the Administrative Agent and the Lenders agree to waive the Specified Obligation.</p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:0pt;margin:14pt 0pt 0pt 0pt;"><font style="display:inline-block;text-align:left;width:33.47pt;"></font>E. <font style="display:inline-block;width:15.1pt;"></font>The Administrative Agent and the Lenders are willing to grant such waiver in accordance with and subject to the terms and conditions of this Agreement.</p><div style="margin-top:14pt;"></div><div style="font-family:'Times';font-size:12pt;line-height:14pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:25.9pt;text-indent:0pt;white-space:nowrap;">F.</font>The Borrower has requested that the Administrative Agent and the Lenders agree to amend certain provisions of the Existing Credit Agreement. </div><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-inde