LOAN AND SECURITY AGREEMENTLoan and Security Agreement • December 30th, 2016 • Vericel Corp • Biological products, (no disgnostic substances) • New York
THIS LOAN AND SECURITY AGREEMENT (this “Agreement”) dated as of September 9, 2016 (the “Effective Date”) among (a) SILICON VALLEY BANK, a California corporation (“SVB”), in its capacity as Administrative Agent (“Agent”), (b) SVB, as a Revolving Line Lender and as a Term Loan Lender, MIDCAP FINANCIAL TRUST, a Delaware statutory trust, as a Revolving Line Lender (in such capacity and together with its successors and assigns, “MidCap Revolving Line Lender”), MIDCAP FUNDING III TRUST, a Delaware Statutory Trust, as a Term Loan Lender (in such capacity and together its successors and assigns, “MidCap Term Loan Lender”) and each other Lender listed on Schedule 1 attached hereto and the other financial institutions party hereto from time to time (each, a “Lender” and collectively, the “Lenders”), and (c) VERICEL CORPORATION, a Michigan corporation (the “Borrower”), provides the terms on which Agent and the Lenders shall lend to Borrower and Borrower shall repay Agent and the Lenders. The part
