Second Amendment to Amended and Restated Loan and Security Agreement, dated as of July 28, 2021, between the Company and Silicon Valley Bank
SECOND AMENDMENT TO
AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT
THIS SECOND AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Amendment”) is entered into this [⏺] day of July, 2021, by and between SILICON VALLEY BANK, a California corporation (“Bank”), and EVERSPIN TECHNOLOGIES, INC., a Delaware corporation (“Borrower”).
NOW, THEREFORE, in consideration of the foregoing recitals and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:
If to Borrower:
Everspin Technologies, Inc.
(z) Accounts owing from an Account Debtor, whose total obligations to Borrower exceed twenty-five percent (25%) of all Accounts, except for Celestica Shared Service Centre and Metatech Limited, for which such percentage is thirty-five percent (35%) for the amounts that exceed that percentage, unless Bank approves in writing; and
“Revolving Line Maturity Date” is August 5, 2022.
agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Amendment and the Loan Documents merge into this Amendment and the Loan Documents.
[Signature page follows.]
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of the date first written above.
EVERSPIN TECHNOLOGIES, INC.
/s/ Anuj Aggarwal
SILICON VALLEY BANK
/s/ Brian Brown
[Signature Page to Second Amendment to Amended and Restated Loan and Security Agreement]