CONFIDENTIAL TREATMENT REQUESTED. CERTAIN PORTIONS OF THIS DOCUMENT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND, WHERE APPLICABLE, HAVE BEEN MARKED WITH AN ASTERISK TO DENOTE WHERE OMISSIONS HAVE BEEN MADE. THE CONFIDENTIAL MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. March 8, 2010
Exhibit 10.04
CONFIDENTIAL TREATMENT REQUESTED. CERTAIN PORTIONS OF THIS
DOCUMENT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR
CONFIDENTIAL TREATMENT AND, WHERE APPLICABLE, HAVE BEEN MARKED
WITH AN ASTERISK TO DENOTE WHERE OMISSIONS HAVE BEEN MADE. THE
CONFIDENTIAL MATERIAL HAS BEEN FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION.
March 8, 2010
Amyris Fuels, LLC
5885 Hollis St., Suite 100
Emeryville, CA 94608
Attention: | Jeri Hilleman, CFO, Amyris Biotechnologies, Inc. | |
Tom Krivas, Vice President - Risk Management, Amyris Biotechnologies, Inc. |
Re: Amendment to Uncommitted Facility Letter
Ladies and Gentlemen:
We refer to the Uncommitted Facility Letter, dated as of November 25, 2008 (as amended, the Uncommitted Facility Letter), between BNP Paribas (the Bank) and Amyris Fuels, Inc. (predecessor in interest to Amyris Fuels, LLC, the Borrower). Unless otherwise defined, capitalized terms used in this Amendment to Uncommitted Facility Letter (this Amendment) have the meanings provided for in the Uncommitted Facility Letter.
Each of the undersigned hereby agrees that, effective as of the date hereof, the Uncommitted Facility Letter shall be amended as follows:
1. The section entitled Availability and Maturity of the Uncommitted Facility Letter is hereby amended by deleting the term November 24, 2009 in the first sentence and inserting in lieu thereof January 14, 2011.
2. Clause 2 in the section entitled Borrowing Base of the Uncommitted Facility Letter is hereby amended and restated in its entirety to read as follows:
2. Unrealized Gains on Eligible Forward Contracts (adjusted for margin collected/ paid and net of offsetting unrealized losses or payables) shall be limited to the lesser of [*] of the total net borrowing base asset value and [*] in the aggregate.
3. Clause 4 in the section entitled Borrowing Base of the Uncommitted Facility Letter is hereby amended and restated in its entirety to read as follows:
4. Unsold inventory will be limited to [*].
This Amendment is executed pursuant to the Uncommitted Facility Letter and shall be construed, administered and applied in accordance with all of the terms and provisions of the Uncommitted Facility Letter.
This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
[*] | Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. |
This Amendment may be executed by the parties hereto in several counterparts, each of which when executed and delivered shall be deemed to be an original and all of which shall constitute together but one and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment by facsimile shall be effective as delivery of a manually executed counterpart of this Amendment.
This Amendment shall not become effective until we have received fully executed original counterparts of this Amendment.
The Guarantor hereby confirms its agreement to this Amendment and ratifies its Guaranty by signing in the space provided below.
THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO NEW YORK CONFLICTS OF LAWS PRINCIPLES).
Except as expressly provided hereby, all of the representations, warranties, terms, covenants and conditions of the Uncommitted Facility Letter shall continue to be, and shall remain, in full force and effect in accordance with their respective terms and are hereby ratified, confirmed and remade as of the date hereof The modifications set forth herein shall be limited precisely as provided for herein, and shall not be deemed to be a waiver of, consent to or modification of any other term or provision of the Uncommitted Facility Letter or of any term or provision of any other instrument referred to therein or herein, or of any transaction or further or future action on the part of the Borrower or any other person which would require the consent of the Bank under the Uncon.l1.l1itted Facility Letter or any such other instrument.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective officers thereunto duly authorized as of the day and year first above written.
Sincerely, |
BNP PARIBAS |
By: /s/ Christine Dirringer |
Name: Christine Dirringer |
Title: Director |
By: /s/ Keith Cox |
Name: Keith Cox |
Title: Managing Director |
We confirm our agreement to the foregoing:
AMYRIS FUELS, LLC |
By: /s/ Thomas Krivas |
Name: Thomas Krivas |
Title: Assistant Secretary |
Agreed to and acknowledged by Guarantor: |
AMYRIS BIOTECHNOLOGIES, INC. |
By: /s/ Jeryl Hilleman |
Name: Jeryl Hilleman |
Title: Chief Financial Officer |