SEC Contract Filing

Filing Date: 2023-07-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>exhibit103-amendmenttocred.htm
<DESCRIPTION>EX-10.3
<TEXT>
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<title>Document</title></head><body><div id="i7ceb818953a24707b38c801e4778e02f_1"></div><div style="min-height:35.28pt;width:100%"><div><font><br></font></div></div><div style="margin-top:4pt;padding-right:5.95pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Exhibit 10.3</font></div><div style="padding-right:5.95pt;text-align:right"><font><br></font></div><div style="padding-right:5.95pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Execution Version</font></div><div><font><br></font></div><div style="margin-top:0.35pt"><font><br></font></div><div style="padding-left:111.65pt;padding-right:111.65pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;text-decoration:underline">FIRST AMENDMENT TO CREDIT AGREEMENT</font></div><div style="margin-top:9.05pt;padding-left:8pt;padding-right:11.15pt;text-align:justify;text-indent:28.8pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%">This FIRST AMENDMENT TO CREDIT AGREEMENT (this &#34;Amendment&#34;), dated as of July 26, 2023 (&#34;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%;text-decoration:underline">E&#64256;ective Date </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%">&#34;), is entered into by and between AppHarvest, Inc., a Delaware corporation (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%;text-decoration:underline">AppHarvest</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%">&#8221; or the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%;text-decoration:underline">Borrower</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%">&#8221;), certain subsidiaries of the Borrower party hereto as Guarantors and CEFF II AppHarvest Holdings, LLC, a Delaware limited liability company, as Lender (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%;text-decoration:underline">Equilibrium</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%">&#8221; or the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%;text-decoration:underline">Lender</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%">&#8221;).</font></div><div style="margin-top:0.2pt"><font><br></font></div><div style="margin-top:4.5pt;padding-left:98.92pt;padding-right:98.92pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">RECITALS</font></div><div style="margin-top:0.4pt"><font><br></font></div><div style="padding-left:12.5pt;text-indent:28.8pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%">WHEREAS, the Borrower, the Guarantors and the Lenders entered into that certain Credit Agreement, dated as of July 25, 2023 (the &#34;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%;text-decoration:underline">Credit Agreement </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%">&#34;).</font></div><div style="margin-top:0.35pt"><font><br></font></div><div style="padding-left:12.5pt;text-indent:28.8pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%">WHEREAS, Borrower and Lender wish to amend the Credit Agreement as provided herein.</font></div><div style="margin-top:0.3pt"><font><br></font></div><div style="padding-left:11.9pt;text-indent:28.8pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%">NOW, THEREFORE, in consideration of the premises and of other valuable consideration, the parties hereto agree as follows&#58;</font></div><div style="margin-top:0.4pt"><font><br></font></div><div style="padding-left:24pt;padding-right:11.3pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%">1)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%;padding-left:8.01pt;text-decoration:underline">Definitions</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%">. Capitalized terms used in this Amendment, but not otherwise herein defined, shall have the respective meanings given to them in the Credit Agreement.</font></div><div style="margin-top:0.25pt"><font><br></font></div><div style="padding-left:24pt;padding-right:13.1pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%">2)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:102%