Common Contracts

DIP Term Sheet

January 27th, 2017

• Filed
  January 27th, 2017

Borrower: Insightra Medical, Inc. (“Insightra Medical”) Guarantor: Modulare, Inc. (“Modulare” and together with Insightra Medical, the “Debtors”) DIP Lender: GPB Life Science Holdings, LLC (“DIP Lender”). Facility: A secured post-petition financing facility (the “DIP Facility”) in an amount not to exceed $750,000 (the “Commitment”) that will provide funding to cover the costs, including operating expenses and professional fees, of Insightra Medical’s and Modulare’s prepackaged chapter 11 cases (the “Chapter 11 Cases”) and the prosecution and confirmation of the prepackaged chapter 11 plan (the “Prepackaged Plan”):• PIK Interest Rate: 13.0% per annum, paid-in-kind at Maturity• Default Interest Rate: plus additional 4.0% per annum, paid-in-kindBorrowings under the DIP Facility (each, a “Loan” and collectively, the “Loans”) shall be incurred as follows: (i) upon entry of the Bankruptcy Court of an interim order approving the DIP Facility, an initial drawing of Loans in the principal amoun