This new Modifiable Link Loan bears attract out of fifteen% per annum, and this is compounded monthly
Plus the Modifiable Link Loan, the business and inserted into the a (non-binding) letter out-of intent in terms of this new modification out-of specific cost or any other regards to brand new EUR ten,000,000 financing which have Kreos Financing VII (UK) Restricted (plus its affiliates “Kreos”, and you will like mortgage the newest “Kreos Mortgage”)
While doing so, subject to particular standards, in case of a great Hive-Down of your alfapump or DSR providers on respectively LiverCo otherwise DSRCo and when the company acquired a potential collateral funding or a convertible or exchangeable personal debt money to the LiverCo or DSRCo to own an amount of at the least EUR 15 mil and you useful content will EUR eight.5 mil respectively (good “Hive-Down Future Financing”), for each and every Lender will have the option getting their financing reduced (in whole or in part) in the form of a cost inside type, including a transfer of the Providers towards related Lender away from offers issued or to end up being awarded by LiverCo otherwise by DSRCo. Exactly how many LiverCo otherwise DSRCo offers are directed have a tendency to be equal to (i) the relevant portion of the Convertible Bridge Loan in order to paid off during the form (from inside the principal and you can appeal), split up by the (ii) the problem price of the new offers that are otherwise tend to become granted from the LiverCo or DSRCo during the event of one’s possible Hive-Off Future Financial support, minus a benefit away from twenty-five%.
Except if the brand new Convertible Link Financing could have been converted otherwise paid down in the form due to the fact aforementioned, brand new particular money of every Financial must be reduced in the money in matter-of default or up on demand at the mercy of past notice, given, not, one a cost request might only exists on the otherwise immediately following: (A) new later on off (x) the fresh new day dropping 12 months pursuing the date about what brand new Hive-Down of alfapump team and you may DSR providers and Hive-Down Future Investment was in fact complete; and you can (y) new big date falling 2 years following time of your Modifiable Link Financing Agreement; otherwise (B) this new big date falling three (3) weeks pursuing the time on which the firm and also the Lenders do influence, in good faith, one to none of your own possible Hive-Downs is fairly likely to exists.
In case there is sales or payment from inside the form, the minimum amount to be converted for brand new shares or a good the convertible financing tend to anyhow be considered are 10% of one’s aggregate initially principal number of the latest money available with the relevant Bank (without one combined and accumulated interest with come paid back, converted or paid in form on the associated bank).
The fresh proceeds from the borrowed funds is used to financing general working capital standards (including, instead of limit, the fresh utilization of the relevant preparatory measures with respect to for every single Hive-Down)
- Installment escape: All the payments necessary for the company underneath the Kreos Loan (also one another money and you may interest repayments) was delay up until (the fresh new “Payment Resumption Time”). To the Percentage Resumption Big date, repayments shall restart from inside the money in complete just like the monthly payments from dominating and you may focus on the last cost day away from (the “Final Repayment Time”), subject to any expansion on Last Installment Big date. If the the company will not located about EUR step three,000,000 in the cash (i.age., another tranche of your Modifiable Connection Mortgage), otherwise out of an authorized to the substantially comparable conditions with no worse financial terms just like the Convertible Connection Mortgage Arrangement, from the no afterwards than cuatro:00 p.yards. on , there’ll be a conference from standard according to the Kreos Mortgage. The past Cost Big date can also be, susceptible to specific requirements, be extended to help you .