SEC Contract Filing

Filing Date: 2021-09-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>smbk-20210923xex10d1.htm
<DESCRIPTION>EX-10.1
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.11.0.85--><!--Created on: 9/28/2021 08:58:31 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:11.72%;padding-right:11.64%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:13.2pt;text-align:right;margin:0.5pt 0pt 0pt 0pt;"><b style="font-size:12pt;font-weight:bold;">Exhibit 10.1</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:13.2pt;text-align:center;margin:0.5pt 0pt 0pt 0pt;"><font style="font-size:13.2pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:13.2pt;text-align:center;margin:0.5pt 0pt 0pt 0pt;"><b style="font-size:12pt;font-weight:bold;">FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:13.6pt;margin:14.39pt 0pt 0pt 36pt;"><b style="font-size:12pt;font-weight:bold;letter-spacing:0.25pt;">THIS FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT </b><font style="font-size:12pt;letter-spacing:0.25pt;">(this</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:13.8pt;text-align:justify;margin:0.2pt 0pt 0pt 0pt;"><font style="font-size:12pt;">&#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Amendment</u><font style="font-size:12pt;">&#8221;) is made and dated as of September 23, 2021, between <br></font><b style="font-size:12pt;font-weight:bold;">SMARTFINANCIAL, INC.</b><font style="font-size:12pt;">, a Tennessee banking corporation (the &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Borrower</u><font style="font-size:12pt;">&#8221;), and </font><b style="font-size:12pt;font-weight:bold;">SERVISFIRST BANK</b><font style="font-size:12pt;">, an Alabama banking corporation (the &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Lender</u><font style="font-size:12pt;">&#8221;).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:13.6pt;text-align:center;margin:12pt 0pt 0pt 0pt;"><font style="font-size:12pt;letter-spacing:-0.05pt;">R E C I T A L S</font></p><div style="margin-top:12.1pt;"></div><div style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:13.8pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;font-family:'Times New Roman';font-size:12pt;min-width:36pt;text-indent:0pt;vertical-align:baseline;white-space:nowrap;">A.</font><font style="font-size:12pt;">Borrower and Lender are parties to that certain Loan and Security Agreement dated as of March 31st, 2020 (as amended, supplemented or otherwise modified from time to time, the &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Loan Agreement</u><font style="font-size:12pt;">&#8221;; capitalized terms used and not otherwise defined or amended in this Amendment shall have the meanings respectively assigned to them in the Loan Agreement). Under the terms and conditions, and subject to the limitations, set forth in the Loan Agreement, Lender has provided to Borrower a Commitment to extend Loans to Borrower in an aggregate principal amount of up to $25,000,000.00.</font></div><div style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:13.7pt;margin-bottom:0pt;margin-left:0pt;margin-top:12.39pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;font-family:'Times New Roman';font-size:12pt;min-width:36pt;text-indent:0pt;vertical-align:baseline;white-space:nowrap;">B.</font><font style="font-size:12pt;">The Commitment Maturity Date was September 24th, 2021. Borrower has requested that Lender consent to (i) the renewal of the Commitment and extension of the Commitment Maturity Date for a period of eighteen months from the date hereof, (ii) certain other amendments to the Loan Agreement, in each case in accordance with and subject to the terms set forth hereunder.</font></div><div style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:13.75pt;margin-bottom:0pt;margin-left:0pt;margin-top:12.19pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;font-family:'Times New Roman';font-size:12pt;min-width:36pt;text-indent:0pt;vertical-align:baseline;white-space:nowrap;">C.</font><font style="font-size:12pt;">Lender, by execution hereof, has agreed to consent to the foregoing and to amend the Loan Agreement accordingly, upon the terms and conditions set forth herein, including, without limitation, the condition that Borrower acknowledge and reaffirm its obligations under the Loan Agreement and the other documents related thereto.</font></div><div style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:13.85pt;margin-bottom:0pt;margin-left:0pt;margin-top:12.05pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;font-family:'Times New Roman';font-size:12pt;min-width:36pt;text-indent:0pt;vertical-align:baseline;white-space:nowrap;">D.</font><font style="font-size:12pt;">The parties hereto have consulted with, and obtained the representation and advice of, their respective legal counsel with regard to the terms and conditions of this Amendment. Each party to this Amendment has had the opportunity to participate fully in the drafting of this Amendment.</font></div><p style="f