SEC Contract Filing

Filing Date: 2019-05-09

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>cdlxform10-q2019q1ex102.htm
<DESCRIPTION>EXHIBIT 10.2
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<div><a name="sac78541022ab4ac8a0f04477603e4e26"></a></div><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.2</font></div></div><div><br></div><div style="line-height:120%;"><hr></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">First Amendment to Loan and Security Agreement</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Borrower: Cardlytics, Inc.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Date: March 27, 2019</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#32;FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT </font><font style="font-family:inherit;font-size:10pt;">is entered into between PACIFIC WESTERN BANK, a California state-chartered bank (&#8220;PWB&#8221;), as Agent and Lender, the other lenders from time to time party to the Loan Agreement, and the borrower named above (&#8220;Borrower&#8221;). PWB and lenders that may hereafter join as lenders under the Loan Agreement (as defined below) are herein sometimes collectively referred to as &#8220;Lenders&#8221; and individually as a &#8220;Lender&#8221;. PWB, in its capacity as administrative and collateral Agent for the Lenders, is referred to herein as the &#8220;Agent&#8221; (which term shall include any successor Agent in accordance with terms hereof). </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Agent, Lender and Borrower agree to amend the Loan and Security Agreement between them, dated May 21, 2018 (as amended, the &#8220;Loan Agreement&#8221;), as follows, effective as of the date hereof. (Capitalized terms used but not defined in this Amendment shall have the meanings set forth in the Loan Agreement.)</font></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">1.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Amendment to Success Fee.</font><font style="font-family:inherit;font-size:10pt;">&#32;&#32;Section 3 of the Schedule to the Loan Agreement, which presently reads as follows:</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">&#8220;Success Fee:</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">In the event Borrower realizes revenue (in accordance with GAAP) of $200,000,000 or more during any twelve-month period ending at the end of any month after the date hereof, Borrower shall pay Lender a one-time Success Fee in the amount of $75,000 within 30 days after the end of such month.&#8221;</font></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">is hereby amended in its entirety to read as follows:</font></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8220;Success Fee:</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the event Borrower realizes Billings of $225,000,000 or more during any twelve-month period ending at the end of any month after the date hereof, Borrower shall pay Lender a one-time Success Fee in the amount of $75,000 within 30 days after the end of such month.&#8221;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">2.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Amendment to Financial Covenants.</font><font style="font-fa