LOAN AND SECURITY AGREEMENTLoan and Security Agreement • August 1st, 2011 • Bacterin International Holdings, Inc. • Biological products, (no disgnostic substances) • Maryland
This LOAN AND SECURITY AGREEMENT (this “Agreement”), dated as of July 28, 2011 (the “Closing Date”), by and among (a) MIDCAP FUNDING III, LLC, a Delaware limited liability company, with an office located at 7255 Woodmont Avenue, Suite 200, Bethesda, Maryland 20814 (“MidCap”), as administrative agent (“Agent”), (b) the Lenders listed on Schedule 1 hereto and otherwise party hereto from time to time (each a “Lender” and, collectively, the “Lenders”), and (c) BACTERIN INTERNATIONAL HOLDINGS, INC., a Delaware corporation (“Bacterin International Holdings”) and BACTERIN INTERNATIONAL, INC., a Nevada corporation (“Bacterin International”; Bacterin International and Bacterin International Holdings are referred to herein individually and collectively, jointly and severally, as “Borrower”), provides the terms on which Lenders agree to lend to Borrower and Borrower shall repay Lenders. The parties agree as follows:
