Document:

Exhibit 10.5

 

	To:	Date: January 24, 2017

Bank
Leumi Le-Israel B.M.

 

Whereas on
July 27, 2014, we the undersigned, CompuLab Ltd., Company No. 511683351, signed a letter of undertaking, in your favor,
relating, inter alia, to various financial criteria (hereinafter:  the “Criteria” and
the “Letter of Undertaking”); and

 

Whereas the
aforesaid Criteria are based on accounting standards, accounting principles, estimates and accounting policy
(hereinafter: the “Accounting Treatment”), as applied in the Company’s financial statements, as of
the date of the Letter of Undertaking (hereinafter: the “Last Financial Statements”); and

 

Whereas
we have undertaken in the said Letter of Undertaking that in case the Accounting Treatment would be different from the aforesaid,
including due to the application of International Financial Reporting Standards (hereinafter: “IFRS”), which
would affect the Criteria, such Criteria will be changed in accordance with the Bank’s discretion;

 

Therefore,
we hereby acknowledge and undertakes as follows:

 

		1.	To
                                         the extent the Company files any financial statements in accordance with the IFRS accounting
                                         standards, then the Criteria set forth in section 1 of our Letter of Undertaking will
                                         be changed in such manner that the Company’s Tangible Equity (as such term is defined
                                         in the Letter of Undertaking), will at no time be less than the rate of 23% of the Company’s
                                         balance sheet on a company-alone basis or the amount of $5,300,000.

					  

		2.	For
                                         the avoidance of doubt, to the extent the Company files financial statements in accordance
                                         with the Accounting Treatment, as applied in the Last Financial Statements, no change
                                         shall be made to the Criteria.

					  

		3.	Nothing
                                         in the above stated shall derogate from your right to inform us on any Criteria changes
                                         which may be required by you due to another new accounting treatment, all as set forth
                                         in section 1 of the Letter of Undertaking.

 

		4.	All
                                         terms used in this amendment will be interpreted in accordance with the meanings assigned
                                         thereto in the Letter of Undertaking and/or the Company’s financial statements
                                         (as the case may be), unless expressly stated otherwise.

  

		5.	Save
                                         for that stated herein above, no other amendments are made to the Letter of Undertaking.

					  

	 	/s/
    Gideon Yampolsky	 
	 	CompuLab
    Ltd.	 

 

We
approve the aforesaid.

 

	/s/
    Shoshana Shechter, /s/ Galya Stav	 

Bank
Leumi Le-Israel B.M.

 

     

     

    

 

The
name of the Company: CompuLab Ltd. Company No. 511683351

Address:
17 HaYetsira Street, Yokneam Illit

 

	To:	Date:
    January 24, 2017

Bank
Leumi Le-Israel B.M.

 

Re:
 The Company’s Resolution to Sign an Amendment

         to
the Letter of Undertaking in favor of the Bank

 

We
hereby notify you that at the meeting of the board of directors of CompuLab Ltd. (hereinafter: the “Company”),
held on January 24, 2017, the following resolution was adopted:

 

		1.	The
                                         Company will sign an amendment to the attached Letter of Undertaking in favor of Bank
                                         Leumi Le-Israel B.M.

 

		2.	To
                                         empower Mr. Gideon Yampolski to sign such amendment to the Letter of Undertaking in the
                                         name of the Company, under such terms and conditions and in the form agreed upon between
                                         the Bank and the Company.

 

		3.	To
                                         notify the Bank of the above resolution.

 

	 	Sincerely
    Yours,	 
	 	 	 
	 	/s/
    Gideon Yampolsky	 
	 	Chairman
    of the Meeting	 

 

I
the undersigned, Adv. Chen Katz, hereby confirm that the Company’s board of directors meeting was duly convened, that the
above resolution was duly adopted at the meeting in accordance with the Company’s incorporation documents and signed by
the Chairman.

 

Furthermore,
I hereby confirm that the composition of signatures set forth in the above resolution binds the Company.

 

 

	January
    24 2017	 	/s/
    Chen Katz
	Date	 	Signature
    and Stamp of an advocate

 

 

2Exhibit 10.1

 

EXECUTION VERSION

 

NORTHWEST BIOTHERAPEUTICS,
INC.

 

SECOND SUPPLEMENTAL INDENTURE

 

THIS SECOND SUPPLEMENTAL INDENTURE (this
“Second Supplemental Indenture”), dated and effective as of June 7, 2017, between Northwest Biotherapeutics,
Inc. (the “Company”) and The Bank of New York Mellon, a New York banking corporation, as trustee (the “Trustee”).
Capitalized terms used herein and not otherwise defined have the meaning ascribed to such terms in the Indenture (as defined below).

 

RECITALS

 

A.       On
August 19, 2014, the Company and the Trustee executed an indenture (the “Original Indenture”) pursuant to which
the Company initially issued $17,500,000 aggregate principal amount of its 5.00% Convertible Senior Notes due 2017 (the “Notes”),
of which $5,500,000 aggregate principal amount remain outstanding as of the date hereof.

 

B.       On
March 17, 2017, the Company and the Trustee entered into a First Supplemental Indenture (the “First Supplemental Indenture”,
together with the Second Supplemental Indenture and as amended and supplemented from time to time, the “Indenture”).

 

C.       Whitebox
Relative Value Partners, LP, Whitebox Credit Arbitrage Partners, LP, Whitebox GT Fund, LP, Whitebox Multi-Strategy Partners, LP
and Pandora Select Partners LP (collectively, the “Holders”) beneficially owned all of the outstanding Notes
since March 9, 2017 and continue to beneficially own all of the outstanding Notes.

 

D.       On
March 9, 2017, the Company and the Holders entered into a Repurchase Agreement, dated as of March 9, 2017, among the Company and
each of the Holders (the “Repurchase Agreement”) and, on May 31, 2017, the Company and the Holders entered into
the Amendment Agreement (as defined below) pursuant to which, among other things, the Company agreed to supplement the Indenture
as set forth herein.

 

E.       On
May 22, 2017, the Company and the Holders entered into a Forbearance Agreement (as defined below) and, on June 2, 2017, the Company
and the Holders entered into a Second Forbearance Agreement (as defined below).

 

F.       Section
11.01(e) of the Indenture provides for the execution of indentures supplemental to the Indenture, without the consent of the Holders,
to, among other things, add to the covenants or Events of Default of the Company for the benefit of the Holders.

 

NOW, THEREFORE, for and in consideration
of the foregoing premises, the Company and the Trustee mutually covenant and agree for the equal and proportionate benefit of the
respective holders from time to time of the Securities as follows:

 

    	 	 	 

    
 

    

 

ARTICLE I

 

Section 1.1   Additional Definitions

 

Section 1.01 (Definitions) of the Original
Indenture is supplemented to add the following:

 

“Amendment Agreement”
means the Amendment to Repurchase Agreement, dated as of May 31, 2017, among the Company and the Holders.

 

“Forbearance Agreement”
means the Forbearance Agreement, dated as of May 22, 2017, among the Company and the Holders.

 

“Second Forbearance Agreement”
means the Second Forbearance Agreement, dated as of June 2, 2017, among the Company and the Holders.

 

Section 1.1   Additional Event of Default

 

Section 7.01 of the Original Indenture is
supplemented to add the following Event of Default (which shall be an “Event of Default” for all purposes under the
Indenture) after Section 7.01(m):

 

“(n) any default or breach
of the terms of the Forbearance Agreement, the Second Forbearance Agreement, the Amendment Agreement or any subsequent amendments,
supplements or modifications thereto or to the Original Repurchase Agreement.”

 

Section 1.2   Automatic Event of Default

 

Section 7.01 of the Original Indenture is
supplemented to add the following in the first paragraph following Section 7.01(n), after the sentence added by Section 1.2 of
the First Supplemental Indenture:

 

“If an Event of Default specified
in Section 7.01(n) occurs and is continuing, the principal of all the Notes and accrued and unpaid interest shall automatically
be immediately due and payable.”

 

ARTICLE II

 

MISCELLANEOUS

 

Section 2.1   Confirmation of Indenture

 

The Indenture, as supplemented and amended
by the First Supplemental Indenture and this Second Supplemental Indenture, is in all respects ratified and confirmed, and the
Indenture, the First Supplemental Indenture, this Second Supplemental Indenture and all indentures supplemental thereto shall be
read, taken and construed as one and the same instrument.

 

    	 	2	 

    
 

    

 

Section 2.2   Concerning the Trustee

 

In carrying out the Trustee's responsibilities
hereunder, the Trustee shall have all of the rights, protections and immunities which it possesses under the Indenture. The Trustee
assumes no responsibility for the correctness of the recitals contained herein. The Trustee makes no representations as to the
validity or sufficiency of this Second Supplemental Indenture.

 

Section 2.3   NEW YORK LAW TO GOVERN

 

THIS SECOND SUPPLEMENTAL INDENTURE SHALL
BE DEEMED TO BE A CONTRACT UNDER THE LAWS OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH
THE LAWS OF SUCH STATE, WITHOUT REGARD TO PRINCIPLES OF THE CONFLICT OF LAWS THEREOF.

 

Section 2.4   Counterparts

 

This Second Supplemental Indenture may be
executed in any number of counterparts each of which shall be an original, but such counterparts shall together constitute but
one and the same instrument. Delivery of an executed counterpart of a signature page to the Indenture by facsimile, email or other
electronic means shall be effective as delivery of a manually executed counterpart of the Indenture.

 

    	 	3	 

    
 

    

 

IN WITNESS WHEREOF, the parties hereto have
caused this Second Supplemental Indenture to be duly executed as of the time, day and year first written above.

 

	 	NORTHWEST BIOTHERAPEUTICS, INC. 
	 	 	 
	 	By:	/s/ Linda F. Powers	 
	 	Name:	Linda F. Powers
	 	Title:	Chief Executive Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to Second Supplemental
Indenture]

 

     

    
 

    

 

 

	 	THE BANK OF NEW YORK MELLON, Trustee 
	 	 	 
	 	By:	/s/ Laurence J. O’Brien	 
	 	Name:	Laurence J. O’Brien
	 	Title:	Vice President

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to Second Supplemental
Indenture]

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