Section 5.3(b). Section 5.3(b) of the Agreement is hereby deleting in its entirety and replaced with the following: “Within [***] following the Amendment No. 2 Effective Date, Millennium will pay to Xxxxxxxx a milestone (each, a “Tumor Study Milestone”) in the amount of [***] for each Molecule that achieves Successful Completion (defined below) in its respective Tumor Study (up to a maximum of $[***] in aggregate Tumor Study Milestones). For clarity, the Development Term for any Molecule with respect to which Millennium does not pay a Tumor Study Milestone in accordance with this Section 5.3(b) will end and such Molecule will, beginning on the [***] following the Amendment No. 2 Effective Date, be treated as a Terminated Molecule under Section 8.5(b) for all purposes hereunder.” [***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED BECAUSE THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED.
Section 5.3(b). Section 5.3(b) is deleted in its entirety and replaced with the following: “A valid collateral realty mortgage on the Property will constitute valid second charge on the Property subject only to prior charges in favour of (i) the Commercial Lenders to a maximum amount of Fifteen Million Dollars ($15,000,000); and (ii) the Property’s Permitted Encumbrances. The Borrower’s counsel, at the Borrower’s cost, will be responsible for preparing and registering all documentation required for the Lender to have a valid second-ranking mortgage on the Property.”
Section 5.3(b). Section 5.3(b) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
