Exhibit 10.56
Execution Version
AMENDMENT No. 7 TO TERM LOAN AGREEMENT
THIS AMENDMENT NO. 7 TO TERM LOAN AGREEMENT, dated as of February 15, 2022 (this “Amendment”) is made among T2 BIOSYSTEMS, INC., a Delaware corporation (“Borrower”), the other Obligors party hereto, CRG SERVICING LLC, as administrative agent and collateral agent (in such capacities, “Administrative Agent”) and the lenders listed on the signature pages hereof under the heading “LENDERS” (each, a “Lender” and, collectively, the “Lenders”), with respect to the Loan Agreement described below.
RECITALS
WHEREAS, Borrower, Administrative Agent and the Lenders are parties to the Term Loan Agreement, dated as of December 30, 2016, with the Subsidiary Guarantors from time to time party thereto (as amended by Amendment No. 1 to Term Loan Agreement, dated as of March 1, 2017, as further amended by Amendment No. 2 to Term Loan Agreement, dated as of December 18, 2017, as further amended by Amendment No. 3 to Term Loan Agreement, dated as of March 16, 2018, as further amended by Amendment No. 4 to Term Loan Agreement, dated as of March 13, 2019, as further amended by Amendment No. 5 to Term Loan Agreement, dated as of September 10, 2019, and as further amended by Amendment No. 6, dated as of January 25, 2021, in each case, by and among Borrower, Administrative Agent and the lenders party thereto, and as further amended, supplemented or modified to date, the “Loan Agreement”); and
WHEREAS, Borrower has requested that Administrative Agent and the Lenders, and Administrative Agent and the Lenders have agreed to, amend the Minimum Required Revenue covenant in Section 10.02(e) of the Loan Agreement and make certain other changes as more fully set forth herein.
NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained herein, the parties agree as follows:
“Interest-Only Period” means the period from and including the first Borrowing Date and through but excluding the twenty-eighth (28th) Payment Date following the first Borrowing Date.
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“Stated Maturity Date” means the twenty-eighth (28th) Payment Date following the first Borrowing Date.
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IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of the date first above written.
BORROWER:
T2 BIOSYSTEMS, INC.
By _____/s/ John Sprague____________________
Name: John Sprague
Title: CFO
[Signature Page to Amendment No. 7 to Term Loan Agreement]
ADMINISTRATIVE AGENT:
CRG SERVICING LLC
By /s/ Nathan Hukill________________________
Name: Nathan Hukill
Title: Authorized Signatory
LENDERS:
CRG PARTNERS III L.P.
By CRG PARTNERS III GP L.P., its General Partner
By CRG PARTNERS III GP LLC, its General Partner
By /s/ Nathan Hukill________________________
Name: Nathan Hukill
Title: Authorized Signatory
CRG PARTNERS III – PARALLEL FUND “A” L.P.
By CRG PARTNERS III – PARALLEL FUND “A” GP L.P., its General Partner
By CRG PARTNERS III – PARALLEL FUND “A” GP LLC, its General Partner
By /s/ Nathan Hukill________________________
Name: Nathan Hukill
Title: Authorized Signatory
CRG PARTNERS III (CAYMAN) UNLEV AIV I L.P.
By CRG PARTNERS III (CAYMAN) GP L.P., its General Partner
By CRG PARTNERS III (CAYMAN) GP LLC, its General Partner
By By /s/ Nathan Hull__________________
Name: Nathan Hukill
Title: Authorized Signatory
Witness: ________________________________
Name: ________________________________
[Signature Page to Amendment No. 7 to Term Loan Agreement]
CRG PARTNERS III (CAYMAN) LEV AIV L.P.
By CRG PARTNERS III (CAYMAN) GP L.P., its General Partner
By CRG PARTNERS III (CAYMAN) GP LLC, its General Partner
By /s/ Nathan Hull________________________
Name: Nathan Hukill
Title: Authorized Signatory
Witness: /s/ Ben Wessner__________________
Name: Ben Wessner__________________
CRG PARTNERS III PARALLEL FUND “B” (CAYMAN) L.P.
By CRG PARTNERS III (CAYMAN) GP L.P., its General Partner
By CRG PARTNERS III (CAYMAN) GP LLC, its General Partner
By /s/ Nathan Hull________________________
Name: Nathan Hukill
Title: Authorized Signatory
Witness: /s/ Ben Wessner__________________
Name: Ben Wessner__________________
[Signature Page to Amendment No. 7 to Term Loan Agreement]