SEC Contract Filing

Filing Date: 2015-08-17

Document Content:
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<TYPE>EX-10.1
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<FILENAME>exhibit1.htm
<DESCRIPTION>EX-10.1
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<P align="left" style="font-size: 10pt"><FONT style="font-size: 10pt"><B>Exhibit&nbsp;10.1</B>
</FONT>

<P align="center" style="font-size: 10pt"><B>FIRST AMENDMENT TO<BR>
AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT</B>

<P align="left" style="font-size: 10pt; text-indent: 4%">This <B>FIRST AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT </B>(this &#147;<B>Amendment</B>&#148;) is
entered into as of August&nbsp;14, 2015, by and among OXFORD FINANCE LLC, a Delaware limited liability
company with an office located at 133 North Fairfax Street, Alexandria, Virginia 22314 (&#147;<B>Oxford</B>&#148;),
as collateral agent (in such capacity, the &#147;<B>Collateral Agent</B>&#148;), the Lenders listed on <U>Schedule
1.1</U> of the Loan Agreement (as defined below) or otherwise a party thereto from time to time
including Oxford in its capacity as a Lender and SILICON VALLEY BANK, a California corporation with
an office located at 3005 Carrington Mill Boulevard, Suite&nbsp;530, Morrisville, North Carolina 27560
(&#147;<B>SVB</B>&#148; or &#147;<B>Bank</B>&#148;) (each a &#147;<B>Lender</B>&#148; and collectively, the &#147;<B>Lenders</B>&#148;), and TRANSENTERIX, INC., a
Delaware corporation, TRANSENTERIX SURGICAL, INC., a Delaware corporation, and SAFESTITCH LLC, a
Virginia limited liability company, each with offices located at 635 Davis Drive, Suite&nbsp;300,
Morrisville, North Carolina 27560 (individually and collectively, jointly and severally,
&#147;<B>Borrower</B>&#148;).

<P align="center" style="font-size: 10pt"><FONT style="font-variant: SMALL-CAPS"><B>Recitals</B></FONT>

<P align="left" style="font-size: 10pt; text-indent: 4%"><B>A.&nbsp;</B>Collateral Agent, Lenders and Borrower have entered into that certain Amended and Restated
Loan and Security Agreement dated as of September&nbsp;26, 2014 (as amended from time to time, the &#147;<B>Loan
Agreement</B>&#148;).

<P align="left" style="font-size: 10pt; text-indent: 4%"><B>B.&nbsp;</B>Lenders have extended credit to Borrower for the purposes permitted in the Loan Agreement.

<P align="left" style="font-size: 10pt; text-indent: 4%"><B>C.&nbsp;</B>Borrower has requested that Collateral Agent and Lenders amend the Loan Agreement to (i)
make available additional credit extensions and (ii)&nbsp;make certain other revisions as more fully set
forth herein.

<P align="left" style="font-size: 10pt; text-indent: 4%"><B>D.&nbsp;</B>Collateral Agent and Lenders have agreed to amend certain provisions of the Loan Agreement,
but only to the extent, in accordance with the terms, subject to the conditions and in reliance
upon the representations and warranties set forth below.

<P align="center" style="font-size: 10pt"><FONT style="font-variant: SMALL-CAPS"><B>Agreement</B></FONT>

<P align="left" style="font-size: 10pt; text-indent: 4%"><FONT style="font-variant: SMALL-CAPS"><B>Now, Therefore</B></FONT>, in consideration of the foregoing recitals and other good and
valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to
be legally bound, the parties hereto agree as follows:

<P align="left" style="font-size: 10pt; text-indent: 4%"><B>1.&nbsp;Definitions</B>. Capitalized terms used but not defined in this Amendment shall have the
meanings given to them in the Loan Agreement.

<P align="left" style="font-size: 10pt; text-indent: 4%"><B>2.&nbsp;Amendments to Loan Agreement</B>.

<P align="left" style="font-size: 10pt; text-indent: 8%"><B>2.1 Section&nbsp;2.2 (Term Loans)</B>. Section&nbsp;2.2(a)(iii) of the Loan Agreement is hereby amended and
restated as follows:

<P align="left" style="margin-left:4%; margin-right:4%; font-size: 10pt; text-indent: 4%">&#147;(iii) Subject to the terms and conditions of this Agreement, the Lenders
agree, severally and not jointly, on the First Amendment Effective Date, to make
term loans to Borrower in a single advance in an aggregate amount equal to Ten
Million Dollars ($10,000,000.00) according to each Lender&#146;s Term B Loan Commitment
as set forth on <U>Schedule&nbsp;1.1</U> hereto (such term loans are hereinafter
referred to singly as a &#147;<B>Term B Loan</B>&#148;, and collectively as the &#147;<B>Term B Loans</B>&#148;).
After repayment, no Term B Loan may be re-borrowed.&#148;

<P align="left" style="font-size: 10pt; text-indent: 8%"><B>2.2 Section&nbsp;2.2 (Term Loans)</B>. Sections&nbsp;2.2(c)-(d) of the Loan Agreement are hereby amended
and restated as follows:

<P align="left" style="margin-left:4%; margin-right:4%; font-size: 10pt; text-indent: 4%">&#147;(c) <U>Mandatory Prepayments</U>. If the Term Loans are accelerated
following the occurrence and during the continuance of an Event of Default, Borrower
shall immediately pay to Lenders, payable to each Lender in accordance with its
respective Pro Rata Share, an amount equal to the sum of: (i)&nbsp;all outstanding
principal of the Term Loans plus accrued but unpaid interest thereon through the
prepayment date, (ii)&nbsp;the Final Payment, plus (iii)&nbsp;all other sums, that shall have
become due and payable hereunder, including Lenders&#146; Expenses and interest at the
Default Rate with respect to any past due amounts. Notwithstanding (but without
duplication with) the foregoing, on the Maturity Date, if the Final Payment had not
previously been paid in full in connection with the prepayment of the Term Loans in
full, Borrower shall pay to Collateral Agent, for payment to each Lender in
accordance with its respective Pro Rata Share, the Final Payment in respect of the
Term Loan(s).

<P align="left" style="margin-left:4%; margin-right:4%; font-size: 10pt; text-inden