Second Amended and Restated Credit Agreement Amendment between the Company and LENSAR, Inc. (December 16, 2016)
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Summary
This document summarizes the key terms of a second amendment to a credit agreement between the Company and LENSAR, Inc., executed on December 16, 2016. LENSAR assumes $48.9 million in outstanding obligations, with no new credit available and no changes to the maturity date or interest rate. The borrower can no longer pay interest in kind, and the full loan amount is due at maturity. Other previously available options, such as interest-only periods and change of control fees, are no longer applicable.
EX-10.75 2 pdli1231201610-kex1075.htm EXHIBIT 10.75 Exhibit
Exhibit 10.75
Schedule of Amendment to Omitted Credit Agreements
In accordance with Instruction 2 to Item 601(a) of Regulation S-K, the Credit Agreement between the Company and LENSAR, Inc., (LENSAR) dated October 1, 2013 (the LENSAR Credit Agreement), was not filed because it is substantially similar to the form of credit agreement that was filed as Exhibit 10.56 to the Company’s Annual Report on Form 10-K filed on March 3, 2014. The Company has previously summarized (i) the LENSAR Credit Agreement (as part of the same exhibit) and (ii) the Amended and Restated LENSAR Credit Agreement (as exhibit 10.71 to the Company’s Form 10-K filed February 23, 2016) the material details in which the omitted credit agreements differed from the form of credit agreement. On December 15, 2016 the Company and LENSAR entered into a second amended and restated LENSAR Credit Agreement (the Amendment). The following schedule sets forth the material details in which the omitted Amendments further modify the form of credit agreement that was filed as Exhibit 10.56 to the Company’s Annual Report on Form 10-K filed on March 3, 2014.
Execution Date | Borrower | Maturity Date | Amount Funded at Closing | Additional Available Credit | Additional Available Credit Funding Conditions | Outstanding Borrowings Interest Rate Per Annum | Interest Only Period | Principal Repayment Schedule | Change of Control Fee |
December 16, 2016 | LENSAR, Inc. (successor to LENSAR,LLC) | No change (December 15, 2020) | The Borrower is assuming $48.9 million in obligations outstanding under the previously amended and restated credit agreement. | None | Not applicable. | No change to interest rate; however, the Borrower no longer has the option to elect to pay interest in kind | No longer applicable | The full amount of the outstanding loans is due on the Maturity Date | No longer applicable |
