Common use of Existing Growth Capital Advances Clause in Contracts

Existing Growth Capital Advances. Borrower acknowledges and agrees that as of the Effective Date, the aggregate outstanding principal balance on the Existing Growth Capital Advances is Nine Million Eight Hundred Fifty-Four Thousand Eight Hundred Thirty-Three and 34/100 Dollars ($9,854,833.34), which remains outstanding and is continued as an Obligation hereunder as of the Effective Date, and that such sum is not subject to any offset or defense of any kind whatsoever, and in the event Borrower has any offsets or defenses thereto, Borrower hereby irrevocably waives all such offsets and defenses. Borrower and Bank acknowledge and agree that there is no further availability to borrow under the Existing Growth Capital Advances. The Obligations owing with respect to the Existing Growth Capital Advances have not been extinguished or discharged hereby and the execution of this Agreement is not intended to and shall not cause or result in a novation with respect to the Existing Growth Capital Advances. Borrower shall, on or about the Effective Date and in conjunction with Borrower’s execution of this Agreement, use a portion of the proceeds from the Tranche A Advance to repay in full in cash all of the Obligations owing to Bank under the Existing Growth Capital Advances, including, without limitation, the amount of the “Final Payment” (as such term is defined in the Prior Loan Agreement) due to Bank under the Existing Growth Capital Advances in the amount of Six Hundred Thirty-Three Thousand Five Hundred Twenty-Five Dollars ($633,525) (the “Existing Growth Capital Final Payment”). No “Make-Whole Premium” (as such term is defined in the Prior Loan Agreement) shall be due and payable in connection with the repayment of the Existing Growth Capital Advances.

Existing Growth Capital Advances. Borrower hereby acknowledges that Bank made Growth Capital Advances to Borrower in the original aggregate principal amount not to exceed Five Million Dollars ($5,000,000) (the “Existing Growth Capital Term Loan”). Borrower acknowledges and agrees that as of the Effective Datedate hereof, the aggregate outstanding principal balance on of the Existing Growth Capital Advances Term Loan is Nine Four Million Ninety-Seven Thousand Two Hundred Twenty-Two Dollars and Twenty-Eight Hundred Fifty-Four Thousand Eight Hundred Thirty-Three and 34/100 Dollars Cents ($9,854,833.344,097,222.28), which remains outstanding . Borrower and Bank acknowledge and agree that there is continued as an Obligation hereunder as no further availability to borrow under the Existing Growth Capital Term Loan. Borrower represents and warrants to Bank that all of the Effective Date, and that such sum is not subject to any due and owing Bank, without offset or defense of any kind whatsoever, or nature and in the event Borrower has any offsets or defenses thereto, Borrower hereby irrevocably waives all such offsets and defenses. Borrower acknowledges and Bank acknowledge and agree agrees that there is no further availability to borrow under the Existing Growth Capital Advances. The Obligations owing with respect to the Existing Growth Capital Advances have not been extinguished or discharged hereby and the execution of this Agreement is not intended to and shall not cause or result in a novation with respect to the Existing Growth Capital AdvancesTerm Loan. Borrower shall, on or about the Effective Date date hereof, and in conjunction with Borrower’s execution of this AgreementAmendment, use a portion of the proceeds from the Tranche A One Term Loan Advance to repay in full in cash all of the Obligations owing to Bank under the Existing Growth Capital AdvancesTerm Loan, including, without limitation, the amount of the “Final Payment” (as such term is defined in the Prior Loan Agreement) Payment due to Bank under the Existing Growth Capital Advances in the amount of Six Hundred Thirty-Three Thousand Five Hundred Twenty-Five Dollars ($633,525) (the “Existing Growth Capital Final Payment”). No “Make-Whole Premium” (as such term is defined in the Prior Loan Agreement) shall be due and payable in connection with the repayment of the Existing Growth Capital Advances.

Existing Growth Capital Advances. Borrower hereby acknowledges that, as part of the Prior Loan Agreement, Bank made available to Borrower, the Existing Growth Capital Advances in the aggregate original principal amount equal to Seven Million Dollars ($7,000,000). Borrower acknowledges and agrees that as of the Effective Date, (i) the aggregate outstanding principal balance on of the Existing Growth Capital Advances is Nine Seven Million Eight Hundred Fifty-Four Thousand Eight Hundred Thirty-Three and 34/100 Dollars ($9,854,833.347,000,000), which remains outstanding and is continued as an Obligation hereunder as of the Effective Date, and (ii) that such sum is not subject to any offset or defense of any kind whatsoever, and in the event Borrower has any offsets or defenses thereto, Borrower hereby irrevocably waives all such offsets and defenses. Borrower and Bank acknowledge and agree that , (iii) there is no further availability to borrow under the Existing Growth Capital Advances, and (iv) that the Existing Growth Capital Advances will be replaced by the Growth Capital Advances (as defined below) as more fully described herein. The Obligations owing with respect to the Existing Growth Capital Advances have not been extinguished or discharged hereby and the execution of this Agreement is not intended to and shall not cause or result in a novation with respect to the Existing Growth Capital Advances. Borrower shall, on or about the Effective Date and in conjunction with Borrower’s execution of this Agreement, use a portion of the proceeds from the Tranche A One Growth Capital Advance to repay in full in cash all of the Obligations owing to Bank under the Existing Growth Capital Advances, including, without limitation, the amount of the “Final Payment” (as such term is defined in the Prior Loan Agreement) due to Bank under the Existing Growth Capital Advances in the amount of Six Hundred Thirty-Three Thousand Five Hundred Twenty-Five Dollars ($633,525) (the “Existing Growth Capital Final Payment”). No “Make-Whole Premium” (as such term is defined in the Prior Loan Agreement) shall be due and payable in connection with the repayment of the Existing Growth Capital Advances.

Existing Growth Capital Advances. Borrower acknowledges and agrees that as of the Effective Date, the aggregate outstanding principal balance on the Existing Growth Capital Advances is Nine Million Eight Seven Hundred FiftyNinety-Four One Thousand Eight Six Hundred ThirtySixty-Three Six Dollars and 34/100 Dollars Sixty-One Cents ($9,854,833.34791,666.61), which remains outstanding and is continued as an Obligation hereunder as of the Effective Date, and that such sum is not subject to any offset or defense of any kind whatsoever, and in the event Borrower has any offsets or defenses thereto, Borrower hereby irrevocably waives all such offsets and defenses. Borrower and Bank acknowledge and agree that there is no further availability to borrow under the Existing Growth Capital Advances. The Obligations owing with respect to the Existing Growth Capital Advances have not been extinguished or discharged hereby and the execution of this Agreement is not intended to and shall not cause or result in a novation with respect to the Existing Growth Capital Advances. Borrower shall, on or about the Effective Date and in conjunction with Borrower’s execution of this Agreement, use a portion of the proceeds from the Tranche A One Term Loan Advance (as defined in the EGC Loan Agreement) to repay in full in cash all of the Obligations owing to Bank under the Existing Growth Capital Advances, including, without limitation, the amount of the “Final Payment” (as such term is defined in the Prior Loan Agreement) due to Bank under the Existing Growth Capital Advances in the amount of Six Hundred Thirty-Three Thousand Five Hundred Twenty-Five Dollars ($633,525) (the “Existing Growth Capital Final Payment”). No “Make-Whole PremiumPrepayment Fee” (as such term is defined in the Prior Loan Agreement) shall be due and payable in connection with the repayment of the Existing Growth Capital Advances.