Early Termination Agreement between Marathon Digital Holdings, Inc. and Silvergate Bank

Contract Categories: Business Operations › Termination Agreements
Summary

Marathon Digital Holdings, Inc. and Silvergate Bank have agreed to end their Term Credit and Security Agreement and Revolving Credit and Security Agreement early, effective March 8, 2023. Silvergate Bank waives both the prepayment penalty and the required 90-day notice period for early termination. This agreement allows Marathon Digital Holdings, Inc. to close out its credit facilities with Silvergate Bank without incurring additional fees or waiting periods.

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EX-10.64 3 ex10-64.htm

 

Exhibit 10.64

 

EARLY TERMINATION AGREEMENT

 

Marathon Digital Holdings, Inc. (the “Borrower”) is indebted to Silvergate Bank (the “Lender”) under that certain Term Credit and Security Agreement (the “Term Facility”), and Revolving Credit and Security Agreement (the “RLOC Facility”), by and between Lender and Borrower, both dated as of July 28, 2022 (together, the “Facilities”).

 

The Borrower elects hereby to early terminate the Facilities, effective March 8, 2023. The Lender hereby agrees to waive the prepayment charge equal to one-half percent (0.50%) of the principal balance due under Section 2.2 of the Term Facility.

 

Further, the Lender hereby waives the Borrower’s required ninety (90) day notice period concerning termination under the RLOC Facility.

 

Agreed:

 

BORROWER:      
         
MARATHON DIGITAL HOLDINGS. INC,      
         
By: /s/ Hugh Gallagher   DATE: 03/07/2023
Name: Hugh Gallagher      
Title: Chief Financial Officer      
         

 

LENDER:      
         
SILVERGATE BANK      
         
By: /s/ Silvia Elliot   DATE: 03/07/2023
Name: Silvia Elliot      
Title: Director of Loan Operations