First Amendment to Amended and Restated Business Loan Agreement with Beachcorp, LLC

Contract Categories: Business Finance - Loan Agreements
EX-10.1 2 ex10-1.htm FIRST AMENDMENT TO AMENDED AND RESTATED BUSINESS LOAN AGREEMENT WITH BEACHCORP, LLC
 

Nanophase Technologies Corporation 10-Q

 

Exhibit 10.1

 

FIRST AMENDMENT TO 

AMENDED AND RESTATED BUSINESS LOAN AGREEMENT

 

This First Amendment is dated as of November 13, 2023 and is by and between NANOPHASE TECHNOLOGIES CORPORATION, a Delaware corporation (“Borrower”) in favor of BEACHCORP, LLC, a Delaware limited liability company (“Lender”) and amends that certain Amended and Restated Business Loan Agreement dated as of January 28, 2022 between Borrower and Lender (as amended from time to time, the “Loan Agreement”).

 

1.       Borrower and Lender hereby agree to amend the Loan Agreement as follows:

 

(b)    Section 7.1 is hereby amended by amending the definition of “Revolving Maturity Date” in its entirety to read as follows:

 

Revolving Maturity Date. The words “Revolving Maturity Date” mean March 31, 2025.”

 

2.       Borrower represents to the Lender that it has no defenses, setoffs, claims or counterclaims of any kind or nature whatsoever against Lender in connection with the Loan Agreement or any Related Documents (as defined therein (collectively with the Loan Agreement, the “Loan Documents”), and any amendments to said documents or any action taken or not taken by the Lender with respect thereto or with respect to the collateral. Without limiting the generality of the foregoing, Borrower hereby releases and forever discharges Lender, its affiliates, and each of its officers, managers, agents, employees, attorneys, insurers, successors and assigns, from any and all liabilities, or causes of action, known or unknown, arising out of any action or inaction with respect to the Loan Documents.

 

3.       Except as modified hereby, the Loan Agreement is hereby ratified and affirmed in all respects.

 

NANOPHASE TECHNOLOGIES CORPORATION   BEACHCORP, LLC  
           
By: /s/ Jess Jankowski   By: /s/ Bradford T. Whitmore  
  Jess Jankowski     Bradford T. Whitmore  
  President & Chief Executive Officer     Manager  

   

Acknowledged:

 

SOLÉSENCE, LLC  
     
By: /s/ Jess Jankowski  
Name: Jess Jankowski  
Its: President & Chief Executive Officer