ELEVENTH AMENDMENT TO THE LOAN AND SECURITY AGREEMENT
Exhibit 10.1
ELEVENTH AMENDMENT TO THE LOAN AND SECURITY AGREEMENT
THIS ELEVENTH AMENDMENT TO THE LOAN AND SECURITY AGREEMENT (this “Amendment”) is made effective as of December 31, 2021 (the “Amendment Date”) by and among OXFORD FINANCE LLC, a Delaware limited liability company with an office located at 000 Xxxxx Xxxxx Xxxxxx, Xxxxx 000, Xxxxxxxxxx, XX 00000 (in its individual capacity, “Oxford”; and in its capacity as Collateral Agent, “Collateral Agent”), the Lenders listed on Schedule 1.1 of the Loan Agreement (as defined below) from time to time including Oxford in its capacity as a Lender (each a “Lender” and collectively, the “Lenders”) and REGULUS THERAPEUTICS INC., a Delaware corporation with offices located at 0000 Xxxxxx Xxxxx Xxxxx, Xxxxx 000, Xxx Xxxxx, XX 00000 (“Borrower”).
WHEREAS, Collateral Agent, Borrower and Lenders party thereto from time to time have entered into that certain Loan and Security Agreement, dated as of June 17, 2016 (as amended, supplemented or otherwise modified from time to time, the “Loan Agreement”), pursuant to which Lenders have provided to Borrower certain loans in accordance with the terms and conditions thereof; and
WHEREAS, Borrower, Lenders and Collateral Agent desire to amend certain provisions of the Loan Agreement as provided herein and subject to the terms and conditions set forth herein.
NOW, THEREFORE, in consideration of the promises, covenants and agreements contained herein, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Borrower, Lenders and Collateral Agent hereby agree as follows:
| 1. | Capitalized terms used herein but not otherwise defined shall have the respective meanings given to them in the Loan Agreement |
| 2. | Section 13.1 of the Loan Agreement is hereby amended by amending and restating the following definitions therein as follows: |
“Second Amortization Date” is (i) January 1, 2023, if the 2022 Equity Event does not occur and (ii) January 1, 2024, if the 2022 Equity Event occurs.
“Maturity Date” is May 1, 2024.
“Minimum Cash Balance” is Five Million Dollars ($5,000,000.00).
| 3. | Section 13.1 of the Loan Agreement is hereby further amended by adding the following definition therein in alphabetical order: |
“2022 Equity Event” is the receipt by Borrower, during the calendar year 2022, of unrestricted net cash proceeds of at least Twenty Million Dollars ($20,000,000.00) from the sale and issuance of its equity securities.
| 4. | The Amortization Table attached to the Disbursement Letter dated as of the Effective Date is amended and restated as set forth on the Amortization Table attached as Exhibit A hereto effective upon the occurrence of the Principal Paydown Event. |
| 5. | Limitation of Amendment. |
| a. | The amendments set forth above are effective for the purposes set forth herein and shall be limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right, remedy or obligation which Lenders or Borrower may now have or may have in the future under or in connection with any Loan Document, as amended hereby. |
| b. | This Amendment shall be construed in connection with and as part of the Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect. |
| 6. | To induce Collateral Agent and Lenders to enter into this Amendment, Borrower hereby represents and warrants to Collateral Agent and Lenders as follows: |
| a. | Immediately after giving effect to this Amendment (a) the representations and warranties contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such date), and (b) no Event of Default has occurred and is continuing; |
| b. | Borrower has the power and due authority to execute and deliver this Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment; |
| c. | The organizational documents of Borrower delivered to Collateral Agent on the Effective Date, and updated pursuant to subsequent deliveries by the Borrower to the Collateral Agent, remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect; |
| d. | The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not and will not contravene (i) any law or regulation binding on or affecting Borrower, (ii) any contractual restriction with a Person binding on Borrower, (iii) any order, judgment or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower, or (iv) the organizational documents of Borrower; |
| e. | The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision thereof, binding on Borrower, except as already has been obtained or made; |
| f. | This Amendment has been duly executed and delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable principles relating to or affecting creditors’ rights; and |
| g. | The Borrower hereby remises, releases, acquits, satisfies and forever discharges the Lenders and Collateral Agent, their agents, employees, officers, directors, predecessors, attorneys and all others acting or purporting to act on behalf of or at the direction of the Lenders and Collateral Agent (“Releasees”), of and from any and all manner of actions, causes of action, suit, debts, accounts, covenants, contracts, controversies, agreements, variances, damages, judgments, claims and demands whatsoever, in law or in equity, which any of such parties ever had, now has or, to the extent arising from or in connection with any act, omission or state of facts taken or existing on or prior to the date hereof, may have after the date hereof against the Releasees, for, upon or by reason of any matter, cause or thing whatsoever relating to or arising out of the Loan Agreement or the other Loan Documents on or prior to the date hereof through the date hereof. Without limiting the generality of the foregoing, the Borrower waives and affirmatively agrees not to allege or otherwise pursue any defenses, affirmative defenses, counterclaims, claims, causes of action, setoffs or other rights they do, shall or may have as of the date hereof, including the rights to |
2
| contest: (a) the right of Collateral Agent and each Lender to exercise its rights and remedies described in the Loan Documents; (b) any provision of this Amendment or the Loan Documents; or (c) any conduct of the Lenders or other Releasees relating to or arising out of the Loan Agreement or the other Loan Documents on or prior to the date hereof. |
| 7. | Except as expressly set forth herein, the Loan Agreement shall continue in full force and effect without alteration or amendment. This Amendment and the Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements. |
| 8. | Borrower agrees to promptly pay (but in no event in less than 5 Business Days of invoice date) all unpaid Lenders’ Expenses incurred through the date hereof, which may be debited (or ACH’d) from any of Borrower’s accounts. |
| 9. | This Amendment shall be deemed effective as of the Amendment Date upon the due execution and delivery to Collateral Agent of this Amendment by each party hereto and the payment by Borrower of an amendment fee to Collateral Agent in the amount of Two Hundred Ninety One Thousand Dollars ($291,000.00). |
| 10. | This Amendment may be executed in any number of counterparts, each of which shall be deemed an original, and all of which, taken together, shall constitute one and the same instrument. |
| 11. | This Amendment and the rights and obligations of the parties hereto shall be governed by and construed in accordance with the laws of the State of California. |
[Balance of Page Intentionally Left Blank – Signature Pages to Follow]
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IN WITNESS WHEREOF, the parties hereto have caused this Eleventh Amendment to Loan and Security Agreement to be executed as of the date first set forth above.
| BORROWER: | ||
| REGULUS THERAPEUTICS INC. | ||
| By | /s/ Xxxx Xxxxxxx | |
| Name: | Xxxx Xxxxxxx | |
| Title: | Chief Financial Officer | |
| COLLATERAL AGENT AND LENDER: | ||
| OXFORD FINANCE LLC | ||
| By | /s/ Xxxxxxx X. Xxxxxxxxx | |
| Name: | Xxxxxxx X. Xxxxxxxxx | |
| Title: | Senior Vice President | |
EXHIBIT A
Amortization Table
Please see attached.
Oxford Finance LLC
Amortization Table
Regulus Total
| Start Date: |
6/22/2016 | Disclaimer: | ||||||
| Interest Rate: |
8.97885 | % | THIS IS A STANDARD AMORTIZATION SCHEDULE. IT IS NOT INTENDED TO BE USED FOR PAYOFF PURPOSES. | |||||
| Term: |
47 | 23 IO + 24 PI | ||||||
| Payment: |
Varies | |||||||
| Final Payment: |
$ | 457,809.27 | 5.50% | |||||
| 3rd Amendment Fee: |
$ | 25,000.00 | ||||||
| Fifth Amendment Fee: |
$ | 25,000.00 | ||||||
| Sixth Amendment Fee: |
$ | 17,000.00 | ||||||
| Seventh Amendment Fee: |
$ | 15,000.00 | ||||||
| Eighth Amendment Fee: |
$ | 650,000.00 | ||||||
| Second IO Extension Fee |
$ | 115,000.00 | ||||||
| Amount: |
20,000,000.00 | THIS AMORTIZATION SCHEDULE REPRESENTS A FLOATING INTEREST RATE LOAN. INTEREST RATE CHARGED MAY DIFFER FROM RATE PER THIS SCHEDULE BASED ON THE TERMS OF THE LOAN AGREEMENT | ||||||
| Interim Interest Days: |
9 | |||||||
| Interim Interest: |
$ | 44,894.25 | ||||||
| PMT |
Payment Date |
Beginning Balance |
Monthly Payment |
Interest | Principal | Ending Balance |
||||||||||||||||||
| 7/1/16 | Interim Interest Due | $ | 20,000,000.00 | |||||||||||||||||||||
| 1 | 8/1/16 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 2 | 9/1/16 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 3 | 10/1/16 | $ | 20,000,000.00 | $ | 149,647.50 | $ | 149,647.50 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 4 | 11/1/16 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 5 | 12/1/16 | $ | 20,000,000.00 | $ | 149,647.50 | $ | 149,647.50 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 6 | 1/1/17 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 7 | 2/1/17 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 8 | 3/1/17 | $ | 20,000,000.00 | $ | 139,671.00 | $ | 139,671.00 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 9 | 4/1/17 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 10 | 5/1/17 | $ | 20,000,000.00 | $ | 149,647.50 | $ | 149,647.50 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 11 | 6/1/17 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 12 | 7/1/17 | $ | 20,000,000.00 | $ | 149,647.50 | $ | 149,647.50 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 13 | 8/1/17 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 14 | 9/1/17 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 15 | 10/1/17 | $ | 20,000,000.00 | $ | 149,647.50 | $ | 149,647.50 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 16 | 11/1/17 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 17 | 12/1/17 | $ | 20,000,000.00 | $ | 149,647.50 | $ | 149,647.50 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 18 | 1/1/18 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 19 | 2/1/18 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 20 | 3/1/18 | $ | 20,000,000.00 | $ | 139,671.00 | $ | 139,671.00 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 21 | 4/1/18 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 22 | 5/1/18 | $ | 20,000,000.00 | $ | 149,647.50 | $ | 149,647.50 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 23 | 6/1/18 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||||
| 24 | 7/1/18 | $ | 20,000,000.00 | $ | 982,980.83 | $ | 149,647.50 | $ | 833,333.33 | $ | 19,166,666.67 | |||||||||||||
| 25 | 8/1/18 | $ | 19,166,666.67 | $ | 148,192.59 | $ | 148,192.59 | $ | 0.00 | $ | 19,166,666.67 | |||||||||||||
| 26 | 9/1/18 | $ | 19,166,666.67 | $ | 148,192.59 | $ | 148,192.59 | $ | 0.00 | $ | 19,166,666.67 | |||||||||||||
| 27 | 10/1/18 | $ | 19,166,666.67 | $ | 143,412.19 | $ | 143,412.19 | $ | 0.00 | $ | 19,166,666.67 | |||||||||||||
| 28 | 11/1/18 | $ | 19,166,666.67 | $ | 1,106,525.93 | $ | 148,192.59 | $ | 958,333.33 | $ | 18,208,333.33 | |||||||||||||
| 29 | 12/1/18 | $ | 18,208,333.33 | $ | 1,686,680.17 | $ | 136,241.58 | $ | 1,550,438.60 | $ | 16,657,894.74 | |||||||||||||
| 30 | 1/1/19 | $ | 16,657,894.74 | $ | 1,054,233.90 | $ | 128,795.30 | $ | 925,438.60 | $ | 15,732,456.14 | |||||||||||||
| 31 | 2/1/19 | $ | 15,732,456.14 | $ | 121,640.01 | $ | 121,640.01 | $ | 0.00 | $ | 15,732,456.14 | |||||||||||||
| 32 | 3/1/19 | $ | 15,732,456.14 | $ | 109,868.39 | $ | 109,868.39 | $ | 0.00 | $ | 15,732,456.14 | |||||||||||||
| 33 | 4/1/19 | $ | 15,732,456.14 | $ | 560,335.01 | $ | 121,640.01 | $ | 438,695.00 | $ | 15,293,761.14 | |||||||||||||
| 34 | 5/1/19 | $ | 15,293,761.14 | $ | 726,933.66 | $ | 114,433.66 | $ | 612,500.00 | $ | 14,681,261.14 | |||||||||||||
| 35 | 6/1/19 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||||
| 36 | 7/1/19 | $ | 14,681,261.14 | $ | 109,850.70 | $ | 109,850.70 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||||
| 37 | 8/1/19 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||||
| 38 | 9/1/19 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||||
| 39 | 10/1/19 | $ | 14,681,261.14 | $ | 109,850.70 | $ | 109,850.70 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||||
| 40 | 11/1/19 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||||
| 41 | 12/1/19 | $ | 14,681,261.14 | $ | 109,850.70 | $ | 109,850.70 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||||
| 42 | 1/1/20 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||||
| 43 | 2/1/20 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||||
| 44 | 3/1/20 | $ | 14,681,261.14 | $ | 106,189.01 | $ | 106,189.01 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||||
| 45 | 4/1/20 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||||
| 46 | 5/1/20 | $ | 14,681,261.14 | $ | 109,850.70 | $ | 109,850.70 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||||
| 47 | 6/1/20 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||||
| 48 | 7/1/20 | $ | 14,681,261.14 | $ | 109,850.70 | $ | 109,850.70 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||||
| 49 | 8/1/20 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||||
| 50 | 9/1/20 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||||
| 51 | 10/1/20 | $ | 14,681,261.14 | $ | 1,109,850.70 | $ | 109,850.70 | $ | 1,000,000.00 | $ | 13,681,261.14 | |||||||||||||
| 52 | 11/1/20 | $ | 13,681,261.14 | $ | 4,105,780.60 | $ | 105,780.60 | $ | 4,000,000.00 | $ | 9,681,261.14 | |||||||||||||
| 53 | 12/1/20 | $ | 9,681,261.14 | $ | 5,072,438.83 | $ | 72,438.83 | $ | 5,000,000.00 | $ | 4,681,261.14 | |||||||||||||
| 54 | 1/1/21 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 55 | 2/1/21 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 56 | 3/1/21 | $ | 4,681,261.14 | $ | 32,691.82 | $ | 32,691.82 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 57 | 4/1/21 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 58 | 5/1/21 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 59 | 6/1/21 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 60 | 7/1/21 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 61 | 8/1/21 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 62 | 9/1/21 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 63 | 10/1/21 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 64 | 11/1/21 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 65 | 12/1/21 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 66 | 1/1/22 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 67 | 2/1/22 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 68 | 3/1/22 | $ | 4,681,261.14 | $ | 32,691.82 | $ | 32,691.82 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 69 | 4/1/22 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 70 | 5/1/22 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 71 | 6/1/22 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 72 | 7/1/22 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 73 | 8/1/22 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 74 | 9/1/22 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 75 | 10/1/22 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 76 | 11/1/22 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 77 | 12/1/22 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||||
| 78 | 1/1/23 | $ | 4,681,261.14 | $ | 311,562.82 | $ | 36,194.52 | $ | 275,368.30 | $ | 4,405,892.84 | |||||||||||||
| 79 | 2/1/23 | $ | 4,405,892.84 | $ | 309,433.73 | $ | 34,065.43 | $ | 275,368.30 | $ | 4,130,524.54 | |||||||||||||
| 80 | 3/1/23 | $ | 4,130,524.54 | $ | 304,214.03 | $ | 28,845.72 | $ | 275,368.30 | $ | 3,855,156.23 | |||||||||||||
| 81 | 4/1/23 | $ | 3,855,156.23 | $ | 305,175.55 | $ | 29,807.25 | $ | 275,368.30 | $ | 3,579,787.93 | |||||||||||||
| 82 | 5/1/23 | $ | 3,579,787.93 | $ | 302,153.62 | $ | 26,785.32 | $ | 275,368.30 | $ | 3,304,419.63 | |||||||||||||
| 83 | 6/1/23 | $ | 3,304,419.63 | $ | 300,917.37 | $ | 25,549.07 | $ | 275,368.30 | $ | 3,029,051.33 | |||||||||||||
| 84 | 7/1/23 | $ | 3,029,051.33 | $ | 298,032.80 | $ | 22,664.50 | $ | 275,368.30 | $ | 2,753,683.02 | |||||||||||||
| 85 | 8/1/23 | $ | 2,753,683.02 | $ | 296,659.19 | $ | 21,290.89 | $ | 275,368.30 | $ | 2,478,314.72 | |||||||||||||
| 86 | 9/1/23 | $ | 2,478,314.72 | $ | 294,530.11 | $ | 19,161.80 | $ | 275,368.30 | $ | 2,202,946.42 | |||||||||||||
| 87 | 10/1/23 | $ | 2,202,946.42 | $ | 291,851.57 | $ | 16,483.27 | $ | 275,368.30 | $ | 1,927,578.12 | |||||||||||||
| 88 | 11/1/23 | $ | 1,927,578.12 | $ | 290,271.93 | $ | 14,903.62 | $ | 275,368.30 | $ | 1,652,209.81 | |||||||||||||
| 89 | 12/1/23 | $ | 1,652,209.81 | $ | 287,730.76 | $ | 12,362.45 | $ | 275,368.30 | $ | 1,376,841.51 | |||||||||||||
| 90 | 1/1/24 | $ | 1,376,841.51 | $ | 286,013.75 | $ | 10,645.45 | $ | 275,368.30 | $ | 1,101,473.21 | |||||||||||||
| 91 | 2/1/24 | $ | 1,101,473.21 | $ | 283,884.66 | $ | 8,516.36 | $ | 275,368.30 | $ | 826,104.91 | |||||||||||||
| 92 | 3/1/24 | $ | 826,104.91 | $ | 281,343.49 | $ | 5,975.19 | $ | 275,368.30 | $ | 550,736.60 | |||||||||||||
| 93 | 4/1/24 | $ | 550,736.60 | $ | 279,626.48 | $ | 4,258.18 | $ | 275,368.30 | $ | 275,368.30 | |||||||||||||
| 94 | 5/1/24 | $ | 275,368.30 | $ | 277,428.71 | $ | 2,060.41 | $ | 275,368.30 | $ | 0.00 | |||||||||||||
| Xxxxx | 0/1/24 | Final Payment | $ | 1,304,809.27 | $ | 1,304,809.27 | $ | 0.00 | ||||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||||||
| Totals | $ | 29,517,369.15 | $ | 9,517,369.15 | $ | 20,000,000.00 | ||||||||||||||||||
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Oxford Finance LLC
Amortization Table
Regulus Total
| Start Date: |
6/22/2016 | Disclaimer: | ||||||
| Interest Rate: |
8.97885 | % | THIS IS A STANDARD AMORTIZATION SCHEDULE. IT IS NOT INTENDED TO BE USED FOR PAYOFF PURPOSES. | |||||
| Term: |
47 | 23 IO + 24 PI | ||||||
| Payment: |
Varies | |||||||
| Final Payment: |
$ | 457,809.27 | 5.50% | |||||
| 3rd Amendment Fee: |
$ | 25,000.00 | ||||||
| Fifth Amendment Fee: |
$ | 25,000.00 | ||||||
| Sixth Amendment Fee: |
$ | 17,000.00 | ||||||
| Seventh Amendment Fee: |
$ | 15,000.00 | ||||||
| Eighth Amendment Fee: |
$ | 650,000.00 | ||||||
| Second IO Extension Fee |
$ | 115,000.00 | ||||||
| Amount: |
20,000,000.00 | THIS AMORTIZATION SCHEDULE REPRESENTS A FLOATING INTEREST RATE LOAN. INTEREST RATE CHARGED MAY DIFFER FROM RATE PER THIS SCHEDULE BASED ON THE TERMS OF THE LOAN AGREEMENT | ||||||
| Interim Interest Days: |
9 | |||||||
| Interim Interest: |
$ | 44,894.25 | ||||||
| PMT No. |
Payment Date |
Beginning Balance |
Monthly Payment |
Interest | Principal | Ending Balance |
||||||||||||||||
| 7/1/16 | Interim Interest Due | $ | 20,000,000.00 | |||||||||||||||||||
| 1 | 8/1/16 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 2 | 9/1/16 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 3 | 10/1/16 | $ | 20,000,000.00 | $ | 149,647.50 | $ | 149,647.50 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 4 | 11/1/16 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 5 | 12/1/16 | $ | 20,000,000.00 | $ | 149,647.50 | $ | 149,647.50 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 6 | 1/1/17 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 7 | 2/1/17 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 8 | 3/1/17 | $ | 20,000,000.00 | $ | 139,671.00 | $ | 139,671.00 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 9 | 4/1/17 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 10 | 5/1/17 | $ | 20,000,000.00 | $ | 149,647.50 | $ | 149,647.50 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 11 | 6/1/17 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 12 | 7/1/17 | $ | 20,000,000.00 | $ | 149,647.50 | $ | 149,647.50 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 13 | 8/1/17 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 14 | 9/1/17 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 15 | 10/1/17 | $ | 20,000,000.00 | $ | 149,647.50 | $ | 149,647.50 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 16 | 11/1/17 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 17 | 12/1/17 | $ | 20,000,000.00 | $ | 149,647.50 | $ | 149,647.50 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 18 | 1/1/18 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 19 | 2/1/18 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 20 | 3/1/18 | $ | 20,000,000.00 | $ | 139,671.00 | $ | 139,671.00 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 21 | 4/1/18 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 22 | 5/1/18 | $ | 20,000,000.00 | $ | 149,647.50 | $ | 149,647.50 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 23 | 6/1/18 | $ | 20,000,000.00 | $ | 154,635.75 | $ | 154,635.75 | $ | 0.00 | $ | 20,000,000.00 | |||||||||||
| 24 | 7/1/18 | $ | 20,000,000.00 | $ | 982,980.83 | $ | 149,647.50 | $ | 833,333.33 | $ | 19,166,666.67 | |||||||||||
| 25 | 8/1/18 | $ | 19,166,666.67 | $ | 148,192.59 | $ | 148,192.59 | $ | 0.00 | $ | 19,166,666.67 | |||||||||||
| 26 | 9/1/18 | $ | 19,166,666.67 | $ | 148,192.59 | $ | 148,192.59 | $ | 0.00 | $ | 19,166,666.67 | |||||||||||
| 27 | 10/1/18 | $ | 19,166,666.67 | $ | 143,412.19 | $ | 143,412.19 | $ | 0.00 | $ | 19,166,666.67 | |||||||||||
| 28 | 11/1/18 | $ | 19,166,666.67 | $ | 1,106,525.93 | $ | 148,192.59 | $ | 958,333.33 | $ | 18,208,333.33 | |||||||||||
| 29 | 12/1/18 | $ | 18,208,333.33 | $ | 1,686,680.17 | $ | 136,241.58 | $ | 1,550,438.60 | $ | 16,657,894.74 | |||||||||||
| 30 | 1/1/19 | $ | 16,657,894.74 | $ | 1,054,233.90 | $ | 128,795.30 | $ | 925,438.60 | $ | 15,732,456.14 | |||||||||||
| 31 | 2/1/19 | $ | 15,732,456.14 | $ | 121,640.01 | $ | 121,640.01 | $ | 0.00 | $ | 15,732,456.14 | |||||||||||
| 32 | 3/1/19 | $ | 15,732,456.14 | $ | 109,868.39 | $ | 109,868.39 | $ | 0.00 | $ | 15,732,456.14 | |||||||||||
| 33 | 4/1/19 | $ | 15,732,456.14 | $ | 560,335.01 | $ | 121,640.01 | $ | 438,695.00 | $ | 15,293,761.14 | |||||||||||
| 34 | 5/1/19 | $ | 15,293,761.14 | $ | 726,933.66 | $ | 114,433.66 | $ | 612,500.00 | $ | 14,681,261.14 | |||||||||||
| 35 | 6/1/19 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||
| 36 | 7/1/19 | $ | 14,681,261.14 | $ | 109,850.70 | $ | 109,850.70 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||
| 37 | 8/1/19 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||
| 38 | 9/1/19 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||
| 39 | 10/1/19 | $ | 14,681,261.14 | $ | 109,850.70 | $ | 109,850.70 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||
| 40 | 11/1/19 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||
| 41 | 12/1/19 | $ | 14,681,261.14 | $ | 109,850.70 | $ | 109,850.70 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||
| 42 | 1/1/20 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||
| 43 | 2/1/20 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||
| 44 | 3/1/20 | $ | 14,681,261.14 | $ | 106,189.01 | $ | 106,189.01 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||
| 45 | 4/1/20 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||
| 46 | 5/1/20 | $ | 14,681,261.14 | $ | 109,850.70 | $ | 109,850.70 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||
| 47 | 6/1/20 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||
| 48 | 7/1/20 | $ | 14,681,261.14 | $ | 109,850.70 | $ | 109,850.70 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||
| 49 | 8/1/20 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||
| 50 | 9/1/20 | $ | 14,681,261.14 | $ | 113,512.39 | $ | 113,512.39 | $ | 0.00 | $ | 14,681,261.14 | |||||||||||
| 51 | 10/1/20 | $ | 14,681,261.14 | $ | 1,109,850.70 | $ | 109,850.70 | $ | 1,000,000.00 | $ | 13,681,261.14 | |||||||||||
| 52 | 11/1/20 | $ | 13,681,261.14 | $ | 4,105,780.60 | $ | 105,780.60 | $ | 4,000,000.00 | $ | 9,681,261.14 | |||||||||||
| 53 | 12/1/20 | $ | 9,681,261.14 | $ | 5,072,438.83 | $ | 72,438.83 | $ | 5,000,000.00 | $ | 4,681,261.14 | |||||||||||
| 54 | 1/1/21 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 55 | 2/1/21 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 56 | 3/1/21 | $ | 4,681,261.14 | $ | 32,691.82 | $ | 32,691.82 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 57 | 4/1/21 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 58 | 5/1/21 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 59 | 6/1/21 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 60 | 7/1/21 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 61 | 8/1/21 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 62 | 9/1/21 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 63 | 10/1/21 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 64 | 11/1/21 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 65 | 12/1/21 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 66 | 1/1/22 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 67 | 2/1/22 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 68 | 3/1/22 | $ | 4,681,261.14 | $ | 32,691.82 | $ | 32,691.82 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 69 | 4/1/22 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 70 | 5/1/22 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 71 | 6/1/22 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 72 | 7/1/22 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 73 | 8/1/22 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 74 | 9/1/22 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 75 | 10/1/22 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 76 | 11/1/22 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 77 | 12/1/22 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 78 | 1/1/23 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 79 | 2/1/23 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 80 | 3/1/23 | $ | 4,681,261.14 | $ | 32,691.82 | $ | 32,691.82 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 81 | 4/1/23 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 82 | 5/1/23 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 83 | 6/1/23 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 84 | 7/1/23 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 85 | 8/1/23 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 86 | 9/1/23 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 87 | 10/1/23 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 88 | 11/1/23 | $ | 4,681,261.14 | $ | 36,194.52 | $ | 36,194.52 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 89 | 12/1/23 | $ | 4,681,261.14 | $ | 35,026.95 | $ | 35,026.95 | $ | 0.00 | $ | 4,681,261.14 | |||||||||||
| 90 | 1/1/24 | $ | 4,681,261.14 | $ | 972,446.74 | $ | 36,194.52 | $ | 936,252.23 | $ | 3,745,008.91 | |||||||||||
| 91 | 2/1/24 | $ | 3,745,008.91 | $ | 965,207.84 | $ | 28,955.61 | $ | 936,252.23 | $ | 2,808,756.68 | |||||||||||
| 92 | 3/1/24 | $ | 2,808,756.68 | $ | 956,567.86 | $ | 20,315.63 | $ | 936,252.23 | $ | 1,872,504.46 | |||||||||||
| 93 | 4/1/24 | $ | 1,872,504.46 | $ | 950,730.03 | $ | 14,477.81 | $ | 936,252.23 | $ | 936,252.23 | |||||||||||
| 94 | 5/1/24 | $ | 936,252.23 | $ | 943,257.62 | $ | 7,005.39 | $ | 936,252.23 | $ | 0.00 | |||||||||||
| Xxxxx | 0/1/24 | Final Payment | $ | 1,304,809.27 | $ | 1,304,809.27 | $ | 0.00 | ||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||||
| Totals | $ | 29,730,909.93 | $ | 9,730,909.93 | $ | 20,000,000.00 | ||||||||||||||||
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