Common use of JDP Term Extension Clause in Contracts

JDP Term Extension. In accordance with Section 11.1.1 of the JDLA, as amended and extended pursuant to the Extensions, the Parties hereby agree that the Second Extended Term (as defined in the Second Extension) shall end on the date hereof, and concurrently therewith, the JDP Term shall be extended for a new extension term commencing on the date hereof and ending on the earlier of (a) 11:59 pm (Central Time) on October 14, 2010, (b) the date of termination of that certain Asset Purchase Agreement dated as of the date hereof by and between BP and Verenium Corporation (the “Purchase Agreement”), or (c) the Closing Date (as defined in the Purchase Agreement). For the avoidance of doubt, the Parties hereby acknowledge and agree that this Third Extension shall not amend or extend the Initial JDP Term.