AMENDMENT NO. 1
LOAN AND SECURITY AGREEMENT
THIS AMENDMENT NO. 1 TO LOAN AND SECURITY AGREEMENT (the First Amendment) is dated as of December 13, 2018 (the First Amendment Date) and is entered into by and among CHEMOCENTRYX, INC., a Delaware corporation, the several banks and other financial institutions or entities from time to time parties hereto (collectively, referred to as Lender) and HERCULES CAPITAL, INC., a Maryland corporation, in its capacity as administrative agent for itself and the Lender (in such capacity, the Agent). Capitalized terms used herein without definition shall have the same meanings given them in the Loan Agreement (as defined below).
A. Borrower, Agent and Lender have entered into that certain Loan and Security Agreement dated as of December 28, 2017 (as may be amended, restated, or otherwise modified, the Loan Agreement), pursuant to which Lender has agreed to extend and make available to Borrower certain advances of money.
B. Borrower has requested and Agent and Lender have agreed to modify certain provisions of the Loan Agreement, subject to the terms and conditions set forth herein.
C. Borrower, Agent and Lender have agreed to amend the Loan Agreement upon the terms and conditions more fully set forth herein.
NOW, THEREFORE, in consideration of the foregoing Recitals and intending to be legally bound, the parties hereto agree as follows:
1.1 Definitions. The following definitions in Section 1.1 of the Loan Agreement are hereby amended and restated in their entirety as follows:
Interest Only Extension Conditions shall mean satisfaction of each of the following events: (a) no Event of Default shall have occurred and be continuing; and (b) on or before December 15, 2018, Borrower shall have requested Tranche 2 Term Loan Advances in the amount of at least $5,000,000.
Tranche 1 Amortization Date means January 1, 2020; provided however, if the Interest Only Extension Conditions are satisfied, then July 1, 2021.
Tranche 1 Maturity Date means December 1, 2021; provided however, if the Interest Only Extension Conditions are satisfied, then December 1, 2022.
Tranche 2 Amortization Date means July 1, 2021.
Tranche 2 Maturity Date means December 1, 2022.