ContractPromissory Note • April 16th, 2021 • Cyanotech Corp • Medicinal chemicals & botanical products • California
THIS NOTE IS SUBJECT TO THE TERMS OF THE INTERCREDITOR AND SUBORDINATION AGREEMENT, DATED AS OF APRIL 12, 2021, AMONG FIRST FOUNDATION BANK (THE “SENIOR CREDITOR”) AND SKYWORDS FAMILY FOUNDATION INC. AND THE OTHER PARTIES THERETO, AS THE SAME MAY BE AMENDED, MODIFIED, RESTATED OR SUPPLEMENTED FROM TIME TO TIME (THE “SUBORDINATION AGREEMENT”), TO THE EXTENT, AND IN THE MANNER PROVIDED IN THE SUBORDINATION AGREEMENT. NOTWITHSTANDING ANY STATEMENT TO THE CONTRARY CONTAINED IN THIS NOTE, NO PAYMENT OR PREPAYMENT OF ANY NATURE ON ACCOUNT OF THE OBLIGATIONS HEREUNDER, WHETHER OF PRINCIPAL, INTEREST OR PREMIUM, SHALL BE MADE, PAID, RECEIVED OR ACCEPTED, AND NO REMEDIES SHALL BE PURSUED BY LENDER, EXCEPT IN ACCORDANCE WITH THE TERMS OF SUCH SUBORDINATION AGREEMENT.
INTERCREDITOR AND SUBORDINATION AGREEMENTIntercreditor and Subordination Agreement • April 16th, 2021 • Cyanotech Corp • Medicinal chemicals & botanical products • California
THIS INTERCREDITOR AND SUBORDINATION AGREEMENT (this “Agreement”), is entered into as of April 12, 2021 (the “Effective Date”), by and between FIRST FOUNDATION BANK, a California corporation (“Senior Creditor”), SKYWORDS FAMILY FOUNDATION INC. ( “Subordinated Creditor”) and CYANOTECH CORPORATION, a Nevada corporation (“Cyanotech” or “Borrower”). Capitalized terms used but not otherwise defined herein shall have the meanings given them in Section 1(a) below.
