Ontario · CCAA
Affidavit of Service of Philip Yang
Affidavit · 30 October 2024
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing1 verified
- secured creditorsnote: Pre-filing secured term loan (K2HV as administrative agent). The $1,000,000 figure is the amount of Loan Agreement debt defined as 'Remaining K2 Indebtedness' that is stated to survive/remain outstanding after Closing, not an independently confirmed full pre-filing balance. A separate, distinct $4,000,000 figure is stated as the 'Remaining K2 Indebtedness' portion pursuant to the DIP Facility (a post-filing, Court-approved debtor-in-possession facility of up to $4,600,000 secured by the DIP Lender's Charge under the ARIO); this DIP amount is not summed with the Loan Agreement figure and is excluded here as post-filing financing. · page: 17 · as of: Agreement effective date (October 24, 2024) - stated as the 'Remaining K2 Indebtedness' portion to remain outstanding pursuant to the Loan Agreement following Closing · amount: 1000000 · debtor: VBI Vaccines Inc. ("Company") and guarantors (the Retained Companies and SciVac) · creditor: K2 HealthVentures LLC ("K2HV"), with rights assigned effective October 15, 2024 to K2 VBI Equity Trust, LLC ("Purchaser") pursuant to the Contribution Agreement · currency: USD · security: Loan and Guaranty Agreement dated May 22, 2020 (as amended by First Amendment May 17, 2021, Second Amendment September 14, 2022, Third Amendment and Amendment to Pledge and Security Agreement dated July 5, 2023, and Fourth Amendment, Waiver and Forbearance Agreement dated February 13, 2024); secured by Pledge and Security Agreement and personal property security registrations listed in Schedule "G" (Permitted Encumbrances) - not reproduced in these pages