SEC Contract Filing

Filing Date: 2020-08-10

Document Content:
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<TYPE>EX-10.1
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<FILENAME>exhibit10_1.htm
<DESCRIPTION>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FIRST AMENDMENT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TO
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This <B>F<SMALL>IRST</SMALL> A<SMALL>MENDMENT</SMALL> <SMALL>TO</SMALL> A<SMALL>MENDED</SMALL> <SMALL>AND</SMALL> R<SMALL>ESTATED</SMALL>
L<SMALL>OAN</SMALL> <SMALL>AND</SMALL> S<SMALL>ECURITY</SMALL> A<SMALL>GREEMENT</SMALL> </B>(this &#147;<B>Amendment</B>&#148;) is dated as of August&nbsp;5, 2020 and is entered into by and among (a)&nbsp;(i)&nbsp;PARATEK PHARMACEUTICALS, INC., a
Delaware corporation (&#147;<B>Inc.</B>&#148;) (ii)&nbsp;PARATEK PHARMA, LLC, A Delaware limited liability company (&#147;<B>LLC</B>&#148;), and (iii)&nbsp;each of its Qualified Subsidiaries that executed a Joinder Agreement in accordance with the
terms of the Loan Agreement (as defined below)(hereinafter collectively referred to as the &#147;<B>Borrower</B>&#148;), (b)&nbsp;the several banks and other financial institutions or entities from time to time parties to the Loan Agreement
(collectively, referred to as &#147;<B>Lender</B>&#148;) and (c)&nbsp;HERCULES CAPITAL, INC., a Maryland corporation, in its capacity as administrative agent for itself and the Lender (in such capacity, the &#147;<B>Agent</B>&#148;). <I>Capitalized
terms used herein without definition shall have the same meanings given them in the Loan Agreement (as defined below)</I>. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>R<SMALL>ECITALS</SMALL> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>A.</B> Borrower, Agent and Lender have entered into that certain Amended and Restated Loan and Security Agreement dated as of June&nbsp;27,
2019 (as may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, the &#147;<B>Loan Agreement</B>&#148;), pursuant to which Lender has agreed to extend and make available to Borrower certain advances of
money. <B> </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>B.</B> In accordance with Section&nbsp;11.3 of the Loan Agreement, Borrower and Lender have agreed to amend the Loan
Agreement upon the terms and conditions more fully set forth herein.<B> </B></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>A<SMALL>GREEMENT</SMALL> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, 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> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1. A<SMALL>MENDMENTS</SMALL>. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman"><B>1.1</B> The Loan Agreement is hereby amended to reflect the changes which are attached as Exhibit A hereto, such that on the
First Amendment Closing Date the terms set forth in <U><B>Exhibit A</B></U> hereto which appear in bold and double underlined text
(<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">inserted text</U></FONT><FONT STYLE="font-family:Times New Roman">) shall be added to the Loan Agreement and the terms
appearing as text which is stricken (</FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff4338"><STRIKE>deleted text</STRIKE></FONT><FONT STYLE="font-family:Times New Roman">) shall be deleted from the Loan Agreement.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman"><B>1.2</B> Each reference in the Loan Agreement to &#147;this Agreement&#148; and the words &#147;hereof,&#148;
&#147;herein,&#148; &#147;hereunder,&#148; or words of like import, shall mean and be a reference to the Loan Agreement as amended by this Amendment.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2. B<SMALL>ORROWER</SMALL>&#146;<SMALL>S</SMALL> R<SMALL>EPRESENTATIONS</SMALL> A<SMALL>ND</SMALL>
W<SMALL>ARRANTIES</SMALL></B><SMALL></SMALL>. Borrower represents and warrants that:<B></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman"><B>2.1</B> Immediately upon
giving effect to this Amendment (i)&nbsp;the representations and warranties contained in the Loan Documents are true and correct in all material respects except to the extent such representations and warranties relate to an earlier date, in which
case they are true and correct in all material respects as of such date and (ii)&nbsp;no Event of<B> </B></P>
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