SEC Contract Filing

Filing Date: 2022-11-10

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>apvo-ex101_33.htm
<DESCRIPTION>EX-10.1
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10.5pt;">&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:12pt;font-style:normal;text-transform:none;font-variant: normal;">EXHIBIT 10.1</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;font-weight:bold;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-align:center;text-indent:0%;font-family:Times New Roman;font-size:11pt;font-weight:bold;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-align:center;text-indent:0%;font-family:Times New Roman;font-size:11pt;font-weight:bold;">&nbsp;</p>
<p style="margin-top:0pt;text-align:center;margin-bottom:12pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;text-transform:uppercase;font-weight:bold;font-style:normal;font-variant: normal;"><font style="text-decoration:underline;">Third AMENDMENT TO</font><font style="text-decoration:underline;text-transform:none;"> CREDIT AND SECURITY AGREEMENT</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;">This THIRD AMENDMENT TO CREDIT AND SECURITY AGREEMENT (this &#8220;<font style="font-weight:bold;">Agreement</font>&#8221;) is made as of August 30, 2022, by and among <font style="font-weight:bold;font-family:Times New Roman Bold;text-transform:uppercase;">Aptevo Therapeutics inc.</font>, a Delaware corporation (&#8220;<font style="font-weight:bold;">Aptevo Therapeutics</font>&#8221;), and <font style="font-weight:bold;">APTEVO RESEARCH AND DEVELOPMENT LLC</font>, a Delaware limited liability company (&#8220;<font style="font-weight:bold;">Aptevo R&amp;D</font>&#8221;, and together with Aptevo Therapeutics, each individually, a &#8220;<font style="font-weight:bold;">Borrower</font>&#8221; and collectively, the &#8220;<font style="font-weight:bold;">Borrowers</font>&#8221;), <font style="font-weight:bold;">MIDCAP FINANCIAL TRUST</font>, a Delaware statutory trust, as Agent (in such capacity, together with its successors and assigns, &#8220;<font style="font-weight:bold;">Agent</font>&#8221;) and the financial institutions or other entities from time to time parties to the Credit Agreement referenced below, each as a Lender.</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RECITALS</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-weight:normal;font-style:normal;color:#auto;font-size:11pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">A.</font><font style="font-size:12pt;font-family:Courier;margin-left:36pt;color:#000000;"></font><font style="color:#000000;">Agent, Lenders and Borrowers have entered into that certain Credit and Security Agreement, dated as of August 5, 2020 (as amended, modified, supplemented and restated prior to the date hereof, the &#8220;</font><font style="font-weight:bold;color:#000000;">Existing Credit Agreement</font><font style="color:#000000;">&#8221; and as the same is amended hereby and as it may be further amended, modified, supplemented and restated from time to time, the &#8220;</font><font style="font-weight:bold;color:#000000;">Credit Agreement</font><font style="color:#000000;">&#8221;), pursuant to which the Lenders have agreed to make certain advances of money and to extend certain financial accommodations to Borrowers in the amounts and manner set forth in the Credit Agreement</font><font style="color:#000000;">.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:7.69%;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-weight:normal;font-style:normal;color:#auto;font-size:11pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">B.</font><font style="font-size:12pt;font-family:Courier;margin-left:36pt;color:#000000;"></font><font style="color:#000000;">Borrowers have requested, and Agent and Lenders have agreed, to amend certain provisions of the Existing Credit Agreement, in each case, in accordance with the terms and subject to the conditions set forth herein.</font></p>
<p style="margin-top:0pt;text-align:left;margin-bottom:0pt;margin-left:7.69%;text-indent:0%;font-size:11pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">AGREEMENT</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">NOW, THEREFORE, in consideration of the foregoing, the terms and conditions set forth in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Agent, Lenders and Borrowers hereby agree as follows:</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:normal;font-style:normal;color:#010000;font-size:11pt