definiens: ), or ( c ) the Closing Date ( as defined in the Purchase Agreement ) . For the avoidance of doubt, the Parties hereby acknowledgeand agree that this Third Extension shall not amend or extend the Initial JDP Term.3 . Third Extension JDP Funding . In consideration of [COMPANY] ’s continued performance under the JDP, [COMPANY] agrees topay to [COMPANY] the following amounts ( each a and all payments made by [COMPANY] to [COMPANY] hereunder the ) on the following dates ( each a ) provided that the JDP Term has not terminated priorto the applicable Payment Date in accordance with the terms hereof : PAYMENT DATE AMOUNT OF PAYMENTFifth ( 5th ) business day following the date ofthis Third Extension Initial Payment AmountAugust 1, 2010 $ 2,500,000August 15, 2010 $ 2,500,000September 1, 2010 $ 2,500,000September 15, 2010 $ 2,500,000October 1, 2010 $ 2,500,000For purposes of the foregoing table, the shall mean an amount equal to the product of ( i ) $ 80,645,multiplied by, ( ii ) the total number of days from the date of this Third Extension through July 31, 2010 ( exclusive of the dateof this Third Extension and inclusive of July 31, 2010 ) . In the event a Payment Date is not a business day then the Paymentwith respect to such applicable Payment Date shall be made on the next succeeding business day . [COMPANY] acknowledges andagrees that each Payment will be compensation in advance for [COMPANY] ’s services during the 15 days following theapplicable Payment Date ( except in the case of the Initial Payment Date, in which case the Payment shall be compensation inadvance for [COMPANY] ’s services from the date of this Third Extension through July 31, 2010 ) ( each an ) . In the event the JDP Term expires pursuant to Section 2(b ) or 2(c ) above ( the date of any such event, an ), [COMPANY] shall promptly, and in any event within five ( 5 ) business days following the Early ExpirationDate, refund to [COMPANY] that portion of [COMPANY] ’s most recent Payment applicable to the number of days remaining in the ApplicablePayment Period after and exclusive of the Early Expiration Date, calculated on a pro rata basis, without regard to whetherVerenium has any planned or intended use for such funds . Notwithstanding the foregoing, for so long as a CompanyTerminating Breach ( as defined in the Purchase Agreement ) is continuing ( after giving effect to any applicable cure periodsunder the Purchase Agreement ), [COMPANY] shall have no obligation to make any Payments hereunder