And the Modifiable Connection Financing, the organization and additionally joined towards the a good (non-binding) letter out-of intention about the modification of specific installment or other terms of the fresh EUR ten,000,000 loan with Kreos Capital VII (UK) Limited (together with the affiliates “Kreos”, and including mortgage the “Kreos Mortgage”)
Additionally, subject to particular conditions, in case of a good Hive-Down of alfapump otherwise DSR providers to your respectively LiverCo otherwise DSRCo if in case the company obtained a prospective security capital or a modifiable otherwise exchangeable financial obligation financial support towards the LiverCo or DSRCo for an amount of about EUR 15 mil and you will EUR seven.5 billion respectively (good “Hive-Down Upcoming Money”), for each Financial get the possibility for its loan repaid (entirely or even in area) in the form of a repayment from inside the type, including a transfer from the Organization towards the relevant Financial from shares approved or to feel awarded from the LiverCo otherwise from the DSRCo. The number of LiverCo otherwise DSRCo offers become transferred tend to end up being equivalent to (i) the appropriate part of the Convertible Connection Mortgage so you’re able to paid down when you look at the kind (inside the prominent and you can attention), divided because of the (ii) the difficulty cost of this new shares which happen to be or usually getting approved from the LiverCo or DSRCo within affair of your potential Hive-Down Coming Resource, without a benefit from 25%.
Unless this new Convertible Link Loan could have been translated or paid back inside the type since the aforementioned, the brand new respective funds of each Bank will need to be paid down during the profit case of default or upon request susceptible to early in the day see, considering, yet not, you to a cost consult may only exist on or after: (A) this new afterwards out-of (x) the new date dropping 1 year following the date on what the fresh Hive-Down of your own alfapump business and you can DSR organization plus the Hive-Off Future Investments had been accomplished; and you will (y) the brand new day falling 2 yrs pursuing the day of the Modifiable Connection Loan Agreement; or (B) the big date dropping about three (3) weeks adopting the date on which the organization together with Loan providers carry out influence, inside the good faith, one none of one’s prospective Hive-Downs is reasonably attending exists.
In case there are conversion process or installment when you look at the type, minimal total feel converted for brand new shares otherwise a good the brand new convertible loan will anyway getting deemed becoming 10% of the aggregate 1st dominating quantity of new money available with the relevant Bank (without any compounded and you will accrued attention that has already been reduced, translated or paid in form towards the related financial).
The latest arises from the loan could be used to loans standard working-capital standards (and, versus limit, brand new utilization of the relevant preparatory tips with regards to for each and every Hive-Down)
- Installment getaway: The repayments necessary for the company official source according to the Kreos Financing (in addition to one another financial support and you can attention money) might possibly be put off up until (this new “Commission Resumption Time”). On Fee Resumption Big date, repayments should restart for the cash in full given that monthly repayments off principal and you will desire to your finally payment date regarding (the latest “Latest Repayment Time”), susceptible to one extension on Finally Fees Day. In the event the the firm will not found at the very least EUR 3,000,000 from inside the cash (we.elizabeth., another tranche of the Modifiable Bridge Mortgage), or out of an authorized toward dramatically similar terms without bad monetary terms and conditions just like the Convertible Bridge Mortgage Arrangement, because of the no afterwards than simply 4:00 p.meters. on the , there’ll be a meeting out of default within the Kreos Loan. The last Repayment Go out can also be, subject to particular criteria, feel extended to help you .