SCYNEXIS, Inc.Scynexis Inc • April 30th, 2014 • Pharmaceutical preparations
In order to further induce sanofi-aventis, a French Société Anonyme (the “Secured Party”) to enter into the transactions contemplated by the Reimbursement Agreement with SCYNEXIS, Inc., a Delaware corporation (the “Debtor”), and in exchange for the premises, covenants and agreements set forth therein, all of which Debtor recognizes as adequate consideration, the Debtor hereby covenants and agrees that, if the Secured Party has not been released as Guarantor pursuant to, and as defined in, that certain Stand-Alone First Demand Guarantee of even date herewith between HSBC Bank USA, National Association (“HSBC”) and the Secured Party (the “Guarantee Agreement”), prior to Debtor’s receipt of proceeds from any of the following events:
