SEC Contract Filing

Filing Date: 2015-11-12

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>mstx-ex101_491.htm
<DESCRIPTION>EX-10.1
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mstx-ex101_491.htm
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.1</p>
<p style="text-align:right;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Execution Version</font></p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">LOAN AND SECURITY AGREEMENT</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">THIS LOAN AND SECURITY AGREEMENT is made and dated as of August 11, 2015 and is entered into by and among MAST THERAPEUTICS, INC., a Delaware corporation, and each of its Qualified Subsidiaries (hereinafter collectively referred to as &#8220;<font style="text-decoration:underline;">Borrower</font>&#8221;), HERCULES TECHNOLOGY III, L.P., a Delaware limited partnership, and the several banks and other financial institutions or entities from time to time parties to this Agreement (collectively referred to as &#8220;<font style="text-decoration:underline;">Lender</font>&#8221;), and HERCULES TECHNOLOGY GROWTH CAPITAL, INC., a Maryland corporation, as administrative agent (&#8220;<font style="text-decoration:underline;">Agent</font>&#8221;).</p>
<p style="text-align:center;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">RECITALS</p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A.&#160;Lender has agreed to make available to Borrower a loan in an aggregate principal amount of up to $15,000,000 (the &#8220;<font style="text-decoration:underline;">Term Loan</font>,&#8221; and such amount the &#8220;<font style="text-decoration:underline;">Maximum Term Loan Amount</font>&#8221;).</p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">B.&#160;Lender is willing to make the Term Loan on the terms and conditions set forth in this Agreement.</p>
<p style="text-align:center;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">AGREEMENT</p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">NOW, THEREFORE, Borrower, Agent and Lender agree as follows:</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">SECTION 1.&#160;<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">DEFINITIONS AND RULES OF CONSTRUCTION</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:9.06%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.1&#160;<font style="font-weight:bold;">Definitions</font>. Unless otherwise defined herein, the following capitalized terms shall have the following meanings:</p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:9.06%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;<font style="text-decoration:underline;">Account Control Agreement(s)&#8221; </font>means any agreement entered into by and among Agent, Borrower and a third-party Bank or other institution (including a Securities Intermediary) in which Borrower maintains a Deposit Account or an account holding Investment Property and which grants Agent a perfected first priority security interest in the subject account or accounts.</p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:13.61%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;<font style="text-decoration:underline;">ACH Authorization</font>&#8221; means the ACH Debit Authorization Agreement in substantially the form of Exhibit F.</p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:13.61%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;<font style="text-decoration:underline;">Advance(s)&#8221; </font>means the Term Loan funds advanced under this Agreement, including, the Advance made on the Closing Date and the Second Advance, as applicable.</p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:13.61%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;<font style="text-decoration:underline;">Advance Date</font>&#8221; means the fu