11/27/2024 | Press release | Distributed by Public on 11/27/2024 15:04
Item 1.01 Entry into a Material Definitive Agreement.
On November22, 2024, EVE Soluções de Mobilidade Aérea Urbana, Ltda. ("Eve Brazil"), a Brazilian limited liability company and a wholly owned subsidiary of Eve Holding, Inc., a Delaware corporation (the "Company"), entered into a loan agreement, dated as of November 21, 2024 (the "Loan Agreement"),with Banco Nacional de Desenvolvimento Econômicoe Social - BNDES, Brazil's National Development Bank ("BNDES"), pursuant to which BNDES agreed to grant Eve Brazil, a loan in theamount of R$ 200 million (approximately U.S.$35million), to support the second phase of the development of the Company's electrical vertical take-off and landing ("eVTOL") project. The line of credit will be granted in Brazilian reais by Fundo Nacional Sobre Mudança Climática("FNMC"), a BNDES fund that supports businesses focused on mitigating climate change and reducing carbon emissions.
Such credit line must be used by Eve Brazil within 30 (thirty)months from the date of signing of the Loan Agreement and any outstanding amount shall be repaid December 15, 2040.
The Loan Agreement can be early terminated, and payment of any outstanding amount can be accelerated, by BNDES in certain events provided for in the Loan Agreement, including in the event of default by Eve Brazil that remains uncured for 90(ninety)days following receipt of written notice from BNDESor for another specifictermdefined under the Loan Agreement.
The foregoing summary of the Loan Agreement does not purport to be complete and is qualified in its entirety by reference to an English translation of the Loan Agreement, which translation is attached hereto as Exhibit 10.1 and is incorporated by reference herein.