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Contract analysis / letter-ironclad-termination-commitment.docx
letter-ironclad-termination-commitment.docx
1018-00008 · 4 clauses
High · 0 Medium · 1 Standard · 0
1. That all commitments under the Commitment Letter (Ref. CL-2024-PPCA-0607) are terminat
1. That all commitments under the Commitment Letter (Ref. CL-2024-PPCA-0607) are terminated, effective as of October 1, 2024;
2. That no further funding obligations exist on the part of any Commitment Party under th
2. That no further funding obligations exist on the part of any Commitment Party under the Commitment Letter, and that neither the Administrative Agent nor the Lead Arranger has any further obligation to arrange, syndicate, or fund any portion of the Term Loan Facility; and
3. The total amount of all accrued and unpaid fees, expenses, and other amounts owed by P Medium
⚑ Forum / governing law
3. The total amount of all accrued and unpaid fees, expenses, and other amounts owed by Penterra as of the date of termination, including a detailed breakdown of the commitment fee, ticking fee, and any reimbursable expenses. Such written confirmation should be directed to the undersigned at the address set forth below, with a copy to Thomas F. Holbrook, General Counsel & Secretary, Penterra Pharmaceuticals Corp., at
1. Copy of Termination Notice dated September 30, 2024 (delivered to Veridian Biosciences
1. Copy of Termination Notice dated September 30, 2024 (delivered to Veridian Biosciences, Inc. and David Ng, as Stockholder Representative) cc: Summit Ridge Capital Partners, LP 277 Park Avenue, 40th Floor New York, New York 10172 Attention: Philip Ostrander, Managing Director Thomas F. Holbrook, General Counsel & Secretary Penterra Pharmaceuticals Corp. 1100 Meridian Boulevard, Suite 400 Princeton, New Jersey 08540