CREDIT FACILITY AGREEMENTCredit Facility Agreement • May 13th, 2022 • Flux Power Holdings, Inc. • Miscellaneous electrical machinery, equipment & supplies • California
CREDIT FACILITY AGREEMENT (this “Agreement”), dated as of May 11, 2022 (“Effective Date”), by and among Flux Power Holdings, Inc., a Nevada corporation (the “Borrower”), Cleveland Capital, L.P., a Delaware limited partnership (“Cleveland”), Herndon Plant Oakley, Ltd.(“HPO”), and additional parties who may subsequently become a party to this Agreement as a lender pursuant to Section 15 hereof (“Additional Lenders,” and together with Cleveland and HPO, the “Lenders”).
ContractSubordinated Unsecured Promissory Note • May 13th, 2022 • Flux Power Holdings, Inc. • Miscellaneous electrical machinery, equipment & supplies • California
IN ACCORDANCE WITH THE TERMS OF A SUBORDINATION AGREEMENT, DATED AS OF MAY 11, 2022 (THE “SUBORDINATION AGREEMENT”), BY AND AMONG THE COMPANY (AS DEFINED HEREIN), THE LENDER (AS DFEINED HEREIN), CERTAIN OTHER PARTIES TO THE SUBORDINATION AGREEMENT, AND SILICON VALLEY BANK (THE “SENIOR LENDER”), THE LENDER HAS SUBORDINATED THE INDEBTEDNESS EVIDENCED BY THIS SUBORDINATED UNSECURED PROMISSORY NOTE (AND ALL PAYMENT AND ENFORCEMENT PROVISIONS HEREIN)(THE “NOTE”) AND ANY SECURITY INTEREST OR LIEN THAT THE LENDER MAY HAVE IN ANY PROPERTY OF THE COMPANY TO THE INDEBTEDNESS OWED BY THE COMPANY TO SENIOR LENDER AND THE SECURITY INTEREST OF SENIOR LENDER IN THE ASSETS OF THE COMPANY, NOTWITHSTANDING THE RESPECTIVE DATES OF ATTACHMENT OR PERFECTION OF THE SECURITY INTEREST OF THE LENDER AND SENIOR LENDER. IN THE EVENT OF ANY INCONSISTENCY BETWEEN THE NOTE AND THE SUBORDINATION AGREEMENT, THE TERMS OF THE SUBORDINATION AGREEMENT SHALL CONTROL.
