SEC Contract Filing

Filing Date: 2019-03-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.32
<SEQUENCE>2
<FILENAME>a1032creditagreement.htm
<DESCRIPTION>EXHIBIT 10.32
<TEXT>
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<div><a name="s8E409B69C258E1F6E4842ADFFB354AF5"></a></div><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:88px;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:88px;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:88px;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:88px;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">OPKO HEALTH, INC.</font></div><div style="line-height:120%;padding-bottom:88px;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">CREDIT AGREEMENT</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">November 8, 2018</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div><br></div><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div><a name="s591B940D83ADB47F68342ADFFB642B7D"></a></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">OPKO HEALTH, INC.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">CREDIT AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">This Credit Agreement (this </font><font style="font-family:Arial;font-size:12pt;font-weight:bold;">"Agreement"</font><font style="font-family:Arial;font-size:12pt;">) is made as of the 8th day of November, 2018 by and among OPKO Health, Inc., a Delaware corporation (the </font><font style="font-family:Arial;font-size:12pt;font-weight:bold;">"Company"</font><font style="font-family:Arial;font-size:12pt;">) and Frost Gamma Investments Trust, a Florida trust (the </font><font style="font-family:Arial;font-size:12pt;font-weight:bold;">"Lender"</font><font style="font-family:Arial;font-size:12pt;">).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">RECITAL</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">The Company desires to borrow from the Lender, and the Lender desires to loan to the Company up to an aggregate principal amount of $60,000,000 (the "Commitment"), pursuant to the terms set forth in this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">In consideration of the mutual promises contained herein and other good and valuable consideration, receipt of which is hereby acknowledged, the parties to this Agreement agree as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:Arial;font-size:12pt;font-weight:bold;padding-right:48px;">1.</font><font style="font-family:Arial;font-size:12pt;font-weight:bold;">Definitions.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">As used in this Agreement, the following capitalized terms have the following meanings:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">"Advance"</font><font style="font-family:Arial;font-size:12pt;">&#32;means the amount of US Dollars advanced pursuant to this Agreement and as evidenced by the Note.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">"Affiliate"</font><font style="font-family:Arial;font-size:12pt;">&#32;means, with