Exhibit 10.2

 

UNITED STATES BANKRUPTCY COURT

 

 

SOUTHERN DISTRICT OF NEW YORK

 

 

 

x

 

In re:

:

Chapter 11

 

:

 

Aegerion Pharmaceuticals, Inc., et al.,(1)

:

Case No. 19-11632 (MG)

 

:

 

Debtors.

:

(Jointly Administered)

 

x

 

 

INTERIM ORDER (I) AUTHORIZING THE DEBTORS TO CONTINUE OPERATING

UNDER THE TERMS OF THE SHARED SERVICES AGREEMENTS,

AS AMENDED, AND (II) GRANTING RELATED RELIEF

 

Upon the motion (the “Motion”)(2) of the debtors and debtors in possession in
the above-captioned cases (collectively, the “Debtors”) for entry of an interim
order (the “Interim order”), pursuant to section 365(a) of title 11 of the
United States Code (the “Bankruptcy Code”), Rule 6006 of the Federal Rules of
Bankruptcy Procedure (the “Bankruptcy Rules”) and Rule 6006-1 of the Local
Bankruptcy Rules for the Southern District of New York (the “Local Bankruptcy
Rules”): (a) authorizing the Debtors to assume (i) that certain Master Service
Agreement, dated as of December 1, 2016, but effective as of November 29, 2016
(as amended, modified or supplemented from time to time), between Debtor
Aegerion Pharmaceuticals, Inc. (“Aegerion”) and Novelion Therapeutics, Inc.
(“Novelion”), Aegerion’s non-Debtor parent, and (ii) that certain Master Service
Agreement, dated as of December 1, 2016, but effective as of November 29, 2016
(as amended, modified or supplemented from time to time) (collectively, the
“Shared Services Agreements”), between Aegerion and Novelion Services USA, Inc.
(“NSU”), a non-Debtor subsidiary of Novelion, in each case, as amended by that
certain Amendment to

 

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(1)                                 The Debtors in these chapter 11 cases and
the last four digits of each Debtor’s federal taxpayer identification number are
Aegerion Pharmaceuticals, Inc. (0116), and Aegerion Pharmaceuticals
Holdings, Inc. (1331). The Debtors’ executive headquarters are located at 245
First Street, Riverview II, 18th Floor, Cambridge, MA 02142.

 

(2)                                 Capitalized terms used but not defined
herein shall have the meaning given to such terms in the Motion.

 

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Shared Services Agreements (the “SSA Amendment” and together with the Shared
Services Agreements, the “Agreements”), dated as of May 20, 2019, between
Aegerion, Novelion and NSU; and (b) granting related relief; and due and
sufficient notice of the Motion having been given; and it appearing that no
other or further notice need be provided; and it appearing that the relief
requested by this Motion is necessary and is in the best interests of the
Debtors, their estates, their creditors, and other parties in interest; and it
appearing that the relief requested is beneficial to the continued operation of
the Debtors’ businesses and the preservation of the value of their assets; and
after due deliberation and sufficient cause appearing therefor, it is hereby

 

ORDERED, that:

 

1.                                      The Motion is granted on an interim
basis to the extent set forth herein.

 

2.                                      Aegerion is authorized to continue to
operate under the terms of the Shared Services Agreements, as amended by the SSA
Amendment, on a postpetition basis in the ordinary course of business; provided
that nothing in this Interim Order shall be deemed to authorize the assumption
of the Shared Services Agreements, the SSA Amendment or any terms thereof, or to
ratify any prepetition payments made by Aegerion thereunder.

 

3.                                      Notwithstanding anything to the contrary
herein, Aegerion shall not make any payments to Novelion on account of any Key
Employee Incentive Plan unless authorized to do so pursuant to a separate order
of this Court.

 

4.                                      The Agreements are solely for the
benefit of the parties thereto and no other person or entity shall be a third
party beneficiary thereof. No entity shall have any right to seek or enforce
specific performance of the Agreements, other than the parties thereto.

 

5.                                      The Official Committee of Unsecured
Creditors (the “Committee”) shall have the right to object to the Motion and the
assumption of the Shared Services Agreements, as

 

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amended, on a final basis, and the Committee reserves all rights with respect to
the Shared Services Agreements, the SSA Amendment, and any payments made or
claims arising thereunder; provided, however, that any objection by the
Committee shall be filed by the date that is no later than the Committee
Challenge Deadline (as defined in the Final DIP Order)(3), as may be extended in
accordance therewith. The Debtors shall seek authorization to assume the Shared
Services Agreements, as amended, on a final basis, at a hearing to be held no
earlier than seven (7) days following the Committee Challenge Deadline or such
other date as agreed by the Committee, provided that the Debtors may seek
assumption of the Shared Services Agreements, as amended, on a final basis
through any chapter 11 plan.

 

6.                                      Notice of the Motion as provided therein
shall be deemed good and sufficient notice and the requirements of the
Bankruptcy Rules and the Local Bankruptcy Rules are satisfied by such notice.

 

7.                                      The terms and conditions of this Interim
Order shall be immediately effective and enforceable upon its entry.

 

8.                                      Notwithstanding anything to the contrary
in this Interim Order, any payment made, or authorization contained, hereunder
shall be subject to the requirements imposed on the Debtors, and the rights of
the Committee and any other party-in-interest under the Final DIP Order,
including paragraph 5 thereof.

 

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(3)                                 Final Order (I) Authorizing Postpetition
Financing; (II) Granting Liens, Security Interests and Superpriority Status;
(III) Authorizing Use of Cash Collateral; (IV) Affording Adequate Protection;
(V) Scheduling A Final Hearing; (VI) Modifying the Automatic Stay; and
(VII) Granting Related Relief.

 

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9.                                      This Court shall retain jurisdiction to
hear and determine all matters related to this Interim Order and the
implementation hereof.

 

IT IS SO ORDERED.

 

 

 

Dated:

June 27, 2019

 

 

New York, New York

 

 

/s/ Martin Glenn

 

MARTIN GLENN

 

United States Bankruptcy Judge

 

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