SEC Contract Filing

Filing Date: 2019-11-12

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>exhibit_10-2.htm
<DESCRIPTION>EXHIBIT 10.2
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 <div style="text-align: right; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u> Exhibit 10.2</u><br>
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 <div style="text-align: center; line-height: 1.25; font-weight: bold;">SECURITY AGREEMENT</div>
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 <div style="text-align: justify; text-indent: 72pt; line-height: 1.25;">THIS SECURITY AGREEMENT (this &#8220;<font style="font-weight: bold; font-style: italic;">Agreement</font>&#8221;), dated as of July 29, 2019, is made by and among Foamix Pharmaceuticals Inc.,
 a Delaware corporation (the &#8220;<font style="font-weight: bold; font-style: italic;">Borrower</font>&#8221;), Foamix Pharmaceuticals Ltd., an Israeli limited liability company (the &#8220;<font style="font-weight: bold; font-style: italic;">Parent Guarantor</font>&#8221;),

 certain Subsidiaries of the Parent Guarantor party hereto or having acceded hereto pursuant to <font style="font-weight: bold;">Section&#160;22</font> (each a &#8220;<font style="font-weight: bold; font-style: italic;">Subsidiary Guarantor</font>&#8221; and,
 together with the Parent Guarantor, the &#8220;<font style="font-weight: bold; font-style: italic;">Guarantors</font>&#8221;, and together with the Borrower, each a &#8220;<font style="font-weight: bold; font-style: italic;">Grantor</font>&#8221; and, collectively, the &#8220;<font style="font-weight: bold; font-style: italic;">Grantors</font>&#8221;), and PERCEPTIVE CREDIT HOLDINGS II, LP, as administrative agent for the Lenders referred to below (in such capacity, the &#8220;<font style="font-weight: bold; font-style: italic;">Administrative

 Agent</font>&#8221;).</div>
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 <div style="text-align: justify; text-indent: 72pt; line-height: 1.25;">WHEREAS, the Borrower, the Guarantors, certain lenders from time to time party thereto (the &#8220;<font style="font-weight: bold; font-style: italic;">Lenders</font>&#8221;) and the
 Administrative Agent are parties to a Credit Agreement and Guaranty dated as of the date hereof (as amended, amended and restated, modified, supplemented, renewed, extended or otherwise modified from time to time, the &#8220;<font style="font-weight: bold; font-style: italic;">Credit Agreement</font>&#8221;), whereby, among other things, the Borrower will incur Indebtedness and other Obligations and the Guarantors will guarantee such Indebtedness and other Obligations (the &#8220;<font style="font-weight: bold; font-style: italic;">Guarantee</font>&#8221;).</div>
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 <div style="text-align: justify; text-indent: 72pt; line-height: 1.25;">WHEREAS, it is a condition precedent to the Borrowings under the Credit Agreement that the Grantors enter into this Agreement and grant to the Administrative Agent, for itself and
 for the ratable benefit of the other Secured Parties, the security interests hereinafter provided to secure the obligations of the Borrower and the Guarantors described below.</div>
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 <div style="text-align: justify; text-indent: 72pt; line-height: 1.25;">NOW, THEREFORE, the parties hereto agree as follows:</div>
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 <div style="text-align: justify; text-indent: 72pt; line-height: 1.25;">SECTION 1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Definitions; Interpretation</u>.</div>
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 <div style="text-align: justify; text-indent: 72pt; line-height: 1.25;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Terms Defined in Credit Agreement</u>.&#160; All capitalized terms used in this Agreement (including in the recitals hereof)&#160;and not otherwise defined herein shall have
 the meanings assigned to them in the Credit Agreement.</div>
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 <div style="text-align: justify; text-indent: 72pt; line-height: 1.25;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Certain Defined Terms</u>.&#160; As used in this Agreement, the following terms shall have the following meanings:</div>
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 <div style="text-align: justify; text-indent: 72pt; line-height: 1.25;">&#8220;<font style="font-weight: bold; font-style: italic;">Acceding Grantor</font>&#8221; has the meaning set forth in <font style="font-weight: bold;">Section&#160;22</font>.</div>
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 <div style="text-align: justify; text-indent: 72pt; line-height: 1.25;">&#8220;<font style="font-weight: bold; font-style: italic;">Accession Agreement</font>&#8221; has the meaning set forth in <font style="font-weight: bold;">Section&#160;22</font>.</div>
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 <div style="text-align: justify; text-indent: 72pt; line-height: 1.25;">&#8220;<font style="font-weight: bold; font-style: italic;">Books</font>&#8221; means all books, records and other written, electronic or other documentation in whatever form maintained now or
 hereafter by or for any Grantor in connection with the ownership of its assets or the conduct of its business or evidencing or containing information relating to the Col