Document:

Exhibit 10.5

 

ARYA SCIENCES ACQUISITION CORP.

c/o Perceptive Advisors

51 Astor Place, 10th Floor

New York, NY 10003

 

___________, 2018

 

ARYA Sciences Holdings

c/o Perceptive Advisors

51 Astor Place, 10th Floor

New York, NY 10003

 

Ladies and Gentlemen:

 

This letter will confirm our agreement that,
commencing on the effective date (the “Effective Date”) of the registration statement (the “Registration
Statement”) for the initial public offering (the “IPO”) of the securities of ARYA Sciences
Acquisition Corp. (the “Company”) and continuing until the earlier of (i) the consummation by the Company
of an initial business combination or (ii) the Company’s liquidation (in each case as described in the Registration Statement)
(such earlier date hereinafter referred to as the “Termination Date”), ARYA Sciences Holdings shall make
available to the Company certain office space, secretarial and administrative services as may be required by the Company from time
to time, situated at 51 Astor Place, 10th Floor, New York, NY 10003 (or any successor location). In exchange therefore, the Company
shall pay ARYA Sciences Holdings a sum not to exceed $10,000 per month, respectively, on the Effective Date and continuing monthly
thereafter until the Termination Date. ARYA Sciences Holdings hereby agrees that it does not have any right, title, interest or
claim of any kind in or to any monies that may be set aside in a trust account (the “Trust Account”)
that may be established upon the consummation of the IPO (the “Claim”) and hereby waives any Claim it
may have in the future as a result of, or arising out of, any negotiations, contracts or agreements with the Company and will not
seek recourse against the Trust Account for any reason whatsoever.

 

	 	Very truly yours,
	 	 
	 	ARYA SCIENCES ACQUISITION CORP.
	 	 	 
	 	By:	                  
	 	Name:	 
	 	Title:	 

 

AGREED TO AND ACCEPTED BY:

 

ARYA SCIENCES HOLDINGS

 

	By:	              	 
	Name:	 	 
	Title:Exhibit 10.6

 

THIS
PROMISSORY NOTE (“NOTE”) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION
OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO
THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

PROMISSORY
NOTE

 

	Principal Amount: up to $300,000	Dated as of July 5, 2018

(as
set forth on the Schedule of Borrowings attached hereto)

 

ARYA
Sciences Acquisition Corp., a Cayman Islands exempted company and blank check company (the “Maker”), promises
to pay to the order of ARYA Sciences Holdings, a Cayman Islands exempted company, or its registered assigns or successors in interest
(the “Payee”), or order, the principal sum of up to three hundred thousand U.S. dollars ($300,000) (as set
forth on the Schedule of Borrowings attached hereto) in lawful money of the United States of America, on the terms and conditions
described below. All payments on this Note shall be made by check or wire transfer of immediately available funds or as otherwise
determined by the Maker to such account as the Payee may from time to time designate by written notice in accordance with the
provisions of this Note.

 

1.
Principal. The principal balance of this Note shall be payable on the earlier of: (i) December 31, 2018 or (ii) the date
on which Maker consummates an initial public offering of its securities (the “IPO”). The principal balance
may be prepaid at any time.

 

2.
Interest. No interest shall accrue on the unpaid principal balance of this Note.

 

3.
Application of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection
of any sum due under this Note, including (without limitation) reasonable attorney’s fees, then to the payment in full of
any late charges and finally to the reduction of the unpaid principal balance of this Note.

 

4. Events of Default. The following shall constitute an event of default (“Event of Default”):

 

(a)
Failure to Make Required Payments. Failure by Maker to pay the principal amount due pursuant to this Note within five (5)
business days of the date specified above.

 

(b)
Voluntary Bankruptcy, Etc. The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization,
rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator,
assignee, trustee, custodian, sequestrator (or other similar official) of Maker or for any substantial part of its property, or
the making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts
become due, or the taking of corporate action by Maker in furtherance of any of the foregoing.

 

(c)
Involuntary Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in
respect of Maker in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver,
liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property,
or ordering the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect
for a period of 60 consecutive days.

 

    

    

    

 

5. 
Remedies.

 

(a)
Upon the occurrence of an Event of Default specified in Section 4(a) hereof, Payee may, by written notice to Maker, declare this
Note to be due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable thereunder,
shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby
expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

 

(b)
Upon the occurrence of an Event of Default specified in Sections 4(b) and 4(c), the unpaid principal balance of this Note, and
all other sums payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without
any action on the part of Payee.

 

6.
Waivers. Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand,
notice of dishonor, protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings
instituted by Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future
laws exempting any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment,
levy or sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment;
and Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of
execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.

 

7.
Unconditional Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default,
or enforcement of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability
of any other party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification
granted or consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may
be granted by Payee with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers,
guarantors, or sureties may become parties hereto without notice to Maker or affecting Maker’s liability hereunder.

 

8.
Notices. All notices, statements or other documents which are required or contemplated by this Agreement shall be: (i)
in writing and delivered personally or sent by first class registered or certified mail, overnight courier service or facsimile
or electronic transmission to the address designated in writing, (ii) by facsimile to the number most recently provided to such
party or such other address or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic
mail address most recently provided to such party or such other electronic mail address as may be designated in writing by such
party. Any notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered
personally, on the business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one
(1) business day after delivery to an overnight courier service or five (5) days after mailing if sent by mail.

 

9.
Construction. THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO CONFLICT
OF LAW PROVISIONS THEREOF.

 

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10. Severability. Any
provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and
any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in
any other jurisdiction.

 

11. Trust
Waiver. Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right, title, interest or
claim of any kind (“Claim”) in or to any distribution of or from the trust account to be established
in which the proceeds of the IPO conducted by the Maker (including the deferred underwriters discounts and commissions) and
the proceeds of the sale of the warrants issued in a private placement to occur prior to the consummation of the IPO are to
be deposited, as described in greater detail in the registration statement and prospectus to be filed with the Securities and
Exchange Commission in connection with the IPO, and hereby agrees not to seek recourse, reimbursement, payment or
satisfaction for any Claim against the trust account for any reason whatsoever.

 

12. Amendment;
Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of
the Maker and the Payee.

 

13. Assignment. No
assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of
law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the
required consent shall be void.

 

[Signature
page follows]

 

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IN
WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the undersigned
as of the day and year first above written.

 

	 	ARYA SCIENCES ACQUISITION CORP.
	 	a Cayman Islands exempted company
	 	 
	 	By:	/s/ James
    Mannix
	 	 	Name: James Mannix
	 	 	Title:   Secretary

  

    

    

    

 

SCHEDULE
OF BORROWINGS

 

The
following increases or decreases in this Promissory Note have been made:

 

	Date of Increase or Decrease	 	Amount of decrease in Principal Amount of this Promissory Note	 	Amount of increase in Principal Amount of this Promissory Note	 	Principal Amount of this Promissory Note following such decrease or increase

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