Common use of Loans from JT Clause in Contracts

Loans from JT. JT will make available to Tularik, under and subject to certain additional terms and conditions as provided in a loan agreement to be executed by the Parties on the Execution Date ("Loan Agreement"), an irrevocable loan commitment to finance an aggregate amount of up to $20 million (the "Aggregate Commitment"); provided, however, JT shall not be required to finance any portion of Aggregate Commitment that has not previously been disbursed in the event this Agreement terminates pursuant to Article 13 hereof. The Aggregate Commitment shall be used by Tularik to finance the portion of Development Costs to be borne by Tularik for [*] (or equivalent) pursuant to this Agreement [*], commencing with the initiation of [*] (or equivalent)(the "Eligible Development Costs"). Such Aggregate Commitment may be drawn in multiple disbursements in amounts ("Amounts Drawn") and at times ("Funding Dates") requested by Tularik to: (i) pay for those Eligible Development Costs that are payable within [*] as estimated by the Development Budget; and (ii) reimburse JT for [*] and payable by Tularik pursuant to Section [*]; provided, -------- however, that [*] of such Aggregate Commitment may be Amounts Drawn to finance -------- [*] Lead Compound [*]; provided further that in no event may there be -------- ------- Amounts Drawn on [*] Collaboration Lead [*]. Loans made by JT to Tularik pursuant to such Loan Agreement for a Collaboration Lead Compound or resulting Product shall provide for [*] of Amounts Drawn on such Collaboration Lead [*], and interest accrued on such Amounts Drawn, over a five-year period ("Repayment Dates") commencing on [*] of the first to occur of: (i) the first sale of the Product resulting from such Collaboration Lead Compound; or (ii) a [*] the JDC to [*] such Collaboration Lead Compound or resulting Product. Interest on Amounts Drawn shall accrue from the Funding Dates to the Repayment Dates and shall equal (i) the sum of the then-prevailing 5-year: (A) [*]; and (B) [*]; divided by (ii) [*]. In addition, Tularik's Share of Co-Promotion Profit and the Royalty Rate for [*] for which Tularik shall have Amounts Drawn pursuant to the Loan Agreement shall [*]. In addition to the foregoing, during the [*] period immediately following the receipt by the Parties of executed reports covering all aspects of [*] on a Product, JT and Tularik shall negotiate in good faith the terms and conditions under which JT may [*] the Aggregate Commitment, and the definition of Eligible Development Costs, to include Development Costs to be incurred in [*].

Loans from JT. JT will make available to Tularik, under and subject to certain additional terms and conditions as provided in a loan agreement to be executed by the Parties on the Execution Date ("Loan Agreement"), an irrevocable loan commitment to finance an aggregate amount of up to $20 million [ * ] (the "Aggregate Commitment"); provided, however, JT shall not be required to finance any portion of Aggregate Commitment that has not previously been disbursed in the event this Agreement terminates pursuant to Article 13 hereof. [ * ] The Aggregate Commitment shall be used by Tularik to finance the portion of Development Costs to be borne by Tularik for [*[ * ] (or equivalent) pursuant to this Agreement [*]and the ONR Agreement, commencing with the initiation of [*[ * ] (or equivalent)(the the "Eligible Development Costs"). Such Aggregate Commitment may be drawn in multiple disbursements in amounts ("Amounts Drawn") and at times ("Funding Dates") requested by Tularik to: (i) pay for those Eligible Development Costs that are payable within [*] as estimated by the Development Budget; and (ii) reimburse JT for [*] and payable by Tularik pursuant to Section [*[ * ]; provided, -------- however, that [*] of such Aggregate Commitment may be Amounts Drawn to finance -------- [*] Lead Compound [*[ * ]; provided further that [ * ]; provided further that in no event may there be -------- ------- Amounts Drawn on [*] Collaboration Lead [*[ * ]. Loans made by JT to Tularik pursuant to such Loan Agreement for a Collaboration Lead Compound or resulting Product shall provide for [*[ * ] of Amounts Drawn on such Collaboration Lead [*], and interest accrued on such Amounts Drawn, over a five-year period ("Repayment Dates") commencing on [*the [ * ] of the first to occur of: (i) the first sale of the Product resulting from such Collaboration Lead Compound; or (ii) a [*] the JDC to [*] such Collaboration Lead Compound or resulting Product[ * ]. Interest on Amounts Drawn shall accrue from the Funding Dates to the Repayment Dates and shall equal (i) the sum of the then-prevailing 5-year: (A) [*]; and (B) [*]; divided by (ii) [*[ * ]. In addition, Tularik's the Share of Co-Promotion Profit and the Royalty Rate for [*[ * ] for which Tularik shall have Amounts Drawn pursuant to the Loan Agreement shall [*[ * ]. In addition to the foregoing, during the [*[ * ] period immediately following the receipt by the Parties of executed reports covering all aspects of [*] on a Product[ * ], JT and Tularik shall negotiate in good faith the terms and conditions under which JT may [*] the Aggregate Commitment, and the definition of Eligible Development Costs, to include Development Costs to be incurred in [*[ * ].

Loans from JT. JT will make available to Tularik, under and subject to certain additional terms and conditions as provided in a loan agreement to be executed by the Parties on the Execution Date ("Loan Agreement"), an irrevocable loan commitment to finance an aggregate amount of up to $20 million [ * ] (the "Aggregate Commitment"); provided, however, JT shall not be required to finance any portion of Aggregate Commitment that has not previously been disbursed in the event this Agreement terminates pursuant to Article 13 hereof. The Aggregate Commitment shall be used by Tularik to finance the portion of Development Costs to be borne by Tularik for [*] (or equivalent) pursuant to this Agreement [*], commencing with the initiation of [*] (or equivalent)(the "Eligible Development Costs"). Such Aggregate Commitment may be drawn in multiple disbursements in amounts ("Amounts Drawn") and at times ("Funding Dates") requested by Tularik to: (i) pay for those Eligible Development Costs that are payable within [*] as estimated by the Development Budget; and (ii) reimburse JT for [*] and payable by Tularik pursuant to Section [*]; provided, -------- however, that [*] of such Aggregate Commitment may be Amounts Drawn to finance -------- [*] Collaboration Lead Compound [*]; provided further that in no event may there be -------- ------- Amounts Drawn on [*] Collaboration Lead [*]. Loans made by JT to Tularik pursuant to such Loan Agreement for a Collaboration Lead Compound or resulting Product shall provide for [*] of Amounts Drawn on such Collaboration Lead [*], and interest accrued on such Amounts Drawn, over a five-year period [*] ("Repayment Dates") commencing on [*] of the first to occur of: (i) the first sale of the Product resulting from such Collaboration Lead Compound; or (ii) a [*] the JDC to [*] such Collaboration Lead Compound or resulting Product. Interest on Amounts Drawn shall accrue from the Funding Dates to the Repayment Dates and shall equal (i) the sum of the then-prevailing 5-year[*]: (A) [*]; and (B) [*]; divided by (ii) [*]. In addition, Tularik's Share of Co-Promotion Profit and the its Royalty Rate with respect to the Tularik Territory for [*] for which Tularik shall have Amounts Drawn pursuant to the Loan Agreement shall [*]. In addition to the foregoing, during the [*] period immediately following the receipt by the Parties of executed reports covering all aspects of [*] on a Product, JT and Tularik shall negotiate in good faith the terms and conditions under which JT may [*] the Aggregate Commitment, and the definition of Eligible Development Costs, to include Development Costs to be incurred in [*].