FORBEARANCE AGREEMENTForbearance Agreement • June 18th, 2009 • Applied Solar, Inc. • Semiconductors & related devices • California
This FORBEARANCE AGREEMENT, dated as of June 11, 2009 (this “Agreement”), is entered into by and among Applied Solar, Inc. (f/k/a Open Energy Corporation), a Nevada corporation (the “Borrower”) and The Quercus Trust, in its capacity as lender under the Loan and Security Agreement dated May 18, 2009 (“May 2009 LSA”), the Loan and Security Agreement dated April 29, 2008 (“April 2008 LSA”), and holder of the Series B Convertible Note dated September 19, 2007 (the “Series B Note”) (in such capacities, the “Lender”).
AMENDMENT NO. 1 TO LOAN AND SECURITY AGREEMENT AND PROMISSORY NOTE DATED MAY 18, 2009Loan and Security Agreement • June 18th, 2009 • Applied Solar, Inc. • Semiconductors & related devices
THIS AMENDMENT NO. 1 (THIS “AMENDMENT”) TO THAT CERTAIN LOAN AND SECURITY AGREEMENT DATED AS OF MAY 18, 2009 (the “Loan and Security Agreement”) is entered into by and between Applied Solar, Inc., a Nevada corporation (“Borrower”), and The Quercus Trust (“Lender”) and that certain promissory note dated May 18, 2009 in the principal amount of $698,0000 (“May 2009 Note”), effective as of June 11, 2009. All terms used herein and not otherwise defined have the respective definitions ascribed thereto in the Loan and Security Agreement or the May 2009 Note.
