As well as the Modifiable Connection Loan, the organization including entered towards an effective (non-binding) page out-of intent with regards to the fresh modification from particular cost or other terms of the EUR 10,000,000 financing that have Kreos Resource VII (UK) Limited (and additionally their associates “Kreos”, and you will instance financing the fresh “Kreos Mortgage”)

Concurrently, subject to certain requirements, in the eventuality of good Hive-Down of your own alfapump® or DSR® business toward correspondingly LiverCo or DSRCo and if the business gotten a prospective collateral financing otherwise a convertible or exchangeable obligations investment on the LiverCo or DSRCo getting some at the very least EUR 15 billion and you can EUR eight.5 mil respectively (a beneficial “Hive-Off Upcoming Resource”), per Lender can get the option to possess their loan reduced (entirely or even in part) by means of an installment in type, consisting of an exchange by the Organization on the related Financial out-of shares granted or to getting issued from the LiverCo otherwise from the DSRCo. How many LiverCo otherwise DSRCo shares is transferred tend to be equal to (i) the appropriate portion of the Modifiable Bridge Financing to reduced from inside the kind (within the principal and you will attract), separated of the (ii) the situation price of this new shares which are or commonly end up being given of the LiverCo or DSRCo from the celebration of your potential Hive-Down Coming Capital, minus a cost savings out of 25%.

Except if the new Modifiable Bridge Loan could have been converted otherwise paid back into the form given that aforementioned, this new particular finance each and every Bank will need to be paid down during the cash in question of default otherwise through to demand susceptible to earlier observe, given, yet not, one a payment request might only can be found to the or shortly after: (A) the fresh new afterwards of (x) the latest day dropping 12 months following date about what new Hive-Down of one’s alfapump® business and DSR® team plus the Hive-Down Upcoming Investment was in fact done; and you will (y) new time falling two years pursuing the go out of Modifiable Link Loan Arrangement; payday loan Grayson Valley or (B) the go out dropping three (3) days after the big date on which the company and the Loan providers perform determine, within the good-faith, you to definitely not one of your own possible Hive-Lows is reasonably gonna exists.

In case there are sales or fees when you look at the form, the minimum total become converted for brand new shares or an excellent brand new modifiable mortgage commonly anyhow end up being considered to be 10% of one’s aggregate initial prominent quantity of new loans available with the appropriate Lender (without any combined and you will accumulated focus that has been paid back, translated or paid in form toward relevant lender).

Brand new arises from the loan will be accustomed funds standard working capital standards (plus, versus limitation, the brand new implementation of the relevant preparatory strategies with respect to for each and every Hive-Down)

• Installment getaway: The payments required by the company according to the Kreos Financing (and each other investment and notice repayments) could be defer until (the newest “Commission Resumption Day”). To your Percentage Resumption Time, repayments will restart from inside the cash in complete because the month-to-month repayments from principal and you will desire to the finally fees big date from (the fresh new “Latest Repayment Time”), at the mercy of any extension into Finally Installment Big date. When the the organization does not located about EUR 3,000,000 during the cash (i.age., the second tranche of your Convertible Link Financing), or away from a third party to your substantially similar terms and no even worse monetary terms and conditions given that Modifiable Connection Financing Arrangement, by the zero later than just 4:00 p.yards. to your , there’ll be an event of standard in Kreos Mortgage. The final Installment Time normally, subject to particular standards, become lengthened in order to .