SEC Contract Filing

Filing Date: 2022-08-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex101-firstamendmenttomudr.htm
<DESCRIPTION>FIRST AMENDMENT TO SENIOR SECURED LOAN AGREEMENT
<TEXT>
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<title>Document</title></head><body><div id="id038605da95f4fcaa970cecd04868d7a_1"></div><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">EXHIBIT 10.1</font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Execution Version</font></div><div style="margin-bottom:0.12pt;text-align:center"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:center"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">FIRST AMENDMENT TO SENIOR SECURED LOAN AGREEMENT</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">This </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">FIRST AMENDMENT TO SENIOR SECURED LOAN AGREEMENT</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">, dated as of August 3, 2022 (this &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Amendment</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221;), is entered into by and between REMARK HOLDINGS, INC., a Delaware corporation having its principal office at 800 S. Commerce Street, Las Vegas, NV 89106 (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Borrower</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221;), and each subsidiary of Borrower listed on the signature pages hereto or that after the date hereof delivers such a signature page (each a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Guarantor</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221;, collectively, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Guarantors</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221; and, together with Borrower, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Loan Parties</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221; and each a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Loan Party</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221;) and MUDRICK CAPITAL MANAGEMENT, LP. and&#47;or one or more managed funds or accounts (collectively and each without differentiation, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Lender</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221;).</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">WHEREAS</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">, the parties hereto have entered into those certain SENIOR SECURED LOAN AGREEMENTS dated as of December 3, 2021 pursuant to which the Lender made a loan to Loan Parties in the aggregate principal sum of Thirty Million Dollars ($30,000,000) (as amended, restated, supplemented or otherwise modified from time to time prior to the date hereof, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Loan Agreement</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221;)&#59;</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">WHEREAS</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">, Events of Default have heretofore occurred under the Loan Agreement (i) pursuant to Section 7(b) thereof as a result of one or more Loan Party&#8217;s sale of 1,681,920 ShareCare Shares in violation of Section 11(a)(ii) of the Loan Agreement (the &#8220;</font><font style="color:#000000;font-family:'Times Ne