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Exhibit 10.18(b)(4)
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AMENDMENT NO. 3 TO
FOURTH AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT
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This Amendment No. 3 to the Fourth Amended and Restated Receivables Purchase Agreement (this “Amendment”) is dated as of July 30, 2021, among Avnet Receivables Corporation, a Delaware corporation (“Seller”), Avnet, Inc., a New York corporation (“Avnet”), as initial Servicer (the Servicer together with Seller, the “Seller Parties” and each a “Seller Party”), each of the entities party hereto identified as a “Financial Institution” (together with any of their respective successors and assigns hereunder, the “Financial Institutions”), each of the entities party hereto identified as a “Company” (together with any of their respective successors and assigns hereunder, the “Companies”) and Wells Fargo Bank, N.A., as agent for the Purchasers or any successor agent hereunder (together with its successors and assigns hereunder, the “Agent”), amending the Fourth Amended and Restated Receivables Purchase Agreement, dated as of August 16, 2018 (as amended by Amendment No. 1 thereto, dated February 28, 2020, and Amendment No. 2 thereto, dated as of July 31, 2020, the “Existing Agreement,” and as further amended, modified or supplemented from time to time, including through the date hereof, the “Receivables Purchase Agreement”).
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RECITALS
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The parties hereto are the current parties to the Existing Agreement and they now desire to amend the Existing Agreement, subject to the terms and conditions hereof, as more particularly described herein.
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AGREEMENT
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NOW, THEREFORE, in consideration of the premises, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
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Section 1.  Definitions Used Herein. Capitalized terms used herein and not otherwise defined herein shall have the respective meanings set forth for such terms in, or incorporated by reference into, the Existing Agreement.
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Section 2.  Amendment of Existing Agreement. Subject to the terms and conditions set forth herein, the Existing Agreement is hereby amended as follows:
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(a)The definition of “Liquidity Termination Date” in Exhibit I of the Existing Agreement is hereby deleted in its entirety and replaced with the following:
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“Liquidity Termination Date” means August 31, 2021.
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Section 3.Conditions to Effectiveness of Amendment.This Amendment shall become effective as of the date hereof, upon the satisfaction of the conditions precedent that:
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(a)Amendment. The Agent and each Seller Party shall have received, on or before the date hereof, executed counterparts of this Amendment, duly executed by each of the parties hereto.
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(b)Representations and Warranties. As of the date hereof, both before and after giving effect to this Amendment, all of the representations and warranties of each Seller Party contained 

AMENDMENT NO. 3 TO
AVNET RECEIVABLES PURCHASE AGREEMENT
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in the Receivables Purchase Agreement and in each other Transaction Document shall be true and correct in all material respects as though made on the date hereof (and by its execution hereof, each Seller Party shall be deemed to have represented and warranted such).
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(c)No Amortization Event or Potential Amortization Event. As of the date hereof, both before and after giving effect to this Amendment, no Amortization Event or Potential Amortization Event shall have occurred and be continuing (and by its execution hereof, each Seller Party shall be deemed to have represented and warranted such).
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Section 4.Miscellaneous.
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(a)Effect; Ratification. This Amendment is effective solely for the purposes set forth herein and shall be limited precisely as written, and shall not be deemed (i) to be a consent to, or an acknowledgment of, any amendment, waiver or modification of any other term or condition of the Existing Agreement or of any other instrument or agreement referred to therein or (ii) to prejudice any right or remedy which the Agent, any Company or Financial Institution (or any of their respective assigns) may now have or may have in the future under or in connection with the Receivables Purchase Agreement or any other instrument or agreement referred to therein. Each reference in the Receivables Purchase Agreement to “this Agreement,” “herein,” “hereof” and words of like import and each reference in the other Transaction Documents to the Existing Agreement or to the “Receivables Purchase Agreement” shall mean the Existing Agreement as amended hereby. This Amendment shall be construed in connection with and as part of the Receivables Purchase Agreement and all terms, conditions, representations, warranties, covenants and agreements set forth in the Receivables Purchase Agreement and each other instrument or agreement referred to therein, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect.
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(b)Transaction Documents. This Amendment is a Transaction Document executed pursuant to the Receivables Purchase Agreement and shall be construed, administered and applied in accordance with the terms and provisions thereof.
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(c)Costs, Fees and Expenses. Seller agrees to reimburse the Agent and each Purchaser and its assigns upon demand for all reasonable and documented out-of-pocket costs, fees and expenses in connection with the preparation, execution and delivery of this Amendment (including the reasonable fees and expenses of counsel to the Agent).
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(d)Counterparts. This Amendment may be executed in any number of counterparts, each such counterpart constituting an original and all of which when taken together shall constitute one and the same instrument.
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(e)Severability. Any provision contained in this Amendment which is held to be inoperative, unenforceable or invalid in any jurisdiction shall, as to that jurisdiction, be inoperative, unenforceable or invalid without affecting the remaining provisions of this Amendment in that jurisdiction or the operation, enforceability or validity of such provision in any other jurisdiction.
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(f)GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK EXCLUDING CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE.

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AMENDMENT NO. 3 TO
AVNET RECEIVABLES PURCHASE AGREEMENT
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(g)WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AMENDMENT, ANY DOCUMENT EXECUTED BY ORIGINATOR PURSUANT TO THIS AMENDMENT OR THE RELATIONSHIP ESTABLISHED HEREUNDER OR THEREUNDER.
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AMENDMENT NO. 3 TO
AVNET RECEIVABLES PURCHASE AGREEMENT
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and delivered by their respective duly authorized officers as of the date first written above.
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	AVNET RECEIVABLES CORPORATION,

	as Seller

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	By:
	/s/ Darrel Jackson

	Name:  
	Darrel Jackson

	Title:
	Director

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	AVNET, INC., as Servicer

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	By:
	/s/ Joseph L. Burke

	Name:  
	Joseph L. Burke

	Title:
	Vice President and Treasurer

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AMENDMENT NO. 3 TO
AVNET RECEIVABLES PURCHASE AGREEMENT
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	WELLS FARGO BANK, N.A.,

	as a Company and as a Financial Institution

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	By:
	/s/ Jonathan Davis

	Name:  
	Jonathan Davis

	Title:
	Vice President

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	WELLS FARGO BANK, N.A.,

	as Agent

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	By:
	/s/ Jonathan Davis

	Name:  
	Jonathan Davis

	Title:
	Vice President 

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AMENDMENT NO. 3 TO
AVNET RECEIVABLES PURCHASE AGREEMENT
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	TRUST BANK,

	as a Company and as a Financial Institution

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	By:
	/s/ Emily Shields

	Name:  
	Emily Shields

	Title:
	SVP

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AMENDMENT NO. 3 TO
AVNET RECEIVABLES PURCHASE AGREEMENT
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	PNC BANK, NATIONAL ASSOCIATION, as a

	Company and as a Financial Institution

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	By:
	/s/ Nina Austin

	Name:  
	Nina Austin

	Title:
	Senior Vice President

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AMENDMENT NO. 3 TO
AVNET RECEIVABLES PURCHASE AGREEMENT
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	LIBERTY STREET FUNDING LLC,

	as a Company

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	By:
	/s/ Kevin J. Corrigan

	Name:  
	Kevin J. Corrigan

	Title:
	Vice President

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	THE BANK OF NOVA SCOTIA,

	as a Financial Institution

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	By:
	/s/ Doug Noe

	Name:  
	Doug Noe

	Title:
	Managing Director 

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AMENDMENT NO. 3 TO
AVNET RECEIVABLES PURCHASE AGREEMENT
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	BANK OF AMERICA, N.A.,

	as a Company and as a Financial Institution

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	By:
	/s/ Christopher Haynes

	Name:  
	Christopher Haynes

	Title:
	Senior Vice President

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​in4dermagreementex101

June 15, 2022 Tay Therapeutics Attn: Andrew Woodland Dear Andrew: Reference is made to the Evaluation and Option Agreement (the “OLA”) dated as of April 30,  2021 by and between Tay Therapeutics (formerly known as In4Derm Limited) (“In4Derm”) and  VYNE Therapeutics Inc. (“VYNE”), as amended by the letter agreements between In4Derm and  VYNE dated as of July 30, 2021 and November 9, 2021. Capitalized terms used in this letter but  not otherwise defined shall have the meanings ascribed to them in the OLA.  Pursuant to Section 3.1 of the OLA, VYNE has an exclusive option to enter into an exclusive  license agreement with In4Derm for the Oral BETi Compounds and Products during the Option  Term. The “Option Term” is generally defined in the OLA as the earlier of (i) the selection by  In4Derm of a lead candidate and (ii) June 30, 2022.  In4Derm has recently informed VYNE that despite using commercially reasonable efforts, it is  not able to provide all of the information outlined in the Data Package for the selection of a lead  candidate prior to June 30, 2022, when the Option Term shall expire. In light of the time, effort  and expenditures that In4Derm has devoted to developing a Data Package and VYNE’s desire to  be able to exercise its option to exclusively license the Oral BETi Compounds following the  selection by In4Derm of a lead candidate, the parties wish to extend the Option Term until the  completion by In4Derm of a revised data package (a “revised Data Package”), in exchange for  additional payments by VYNE.  Specifically, the parties wish to amend the OLA as follows:  Section 2.2 of the OLA shall be amended to replace the evaluation data package set  forth in Exhibit 2.2 of the OLA with the revised data evaluation set forth in Exhibit  2.2R to this letter agreement.   The definition of “Option Term” in Section 1.22 of the OLA shall be amended by  replacing clause (b) set forth therein with, “February 28, 2023, or earlier as set forth  in this Option Agreement.”  In consideration of these amendments, VYNE shall pay In4Derm an aggregate of up to  1,150,000 pounds sterling (£1,150,000), payable in two tranches, to advance certain expenses for  the completion by In4Derm of the development and evaluation activities set forth in the revised  Data Package as follows:  

 

 The first payment of 300,000 pounds sterling (£300,000) shall be due by June 30, 2022.  If the first payment is not received by June 30, 2022, the Option and the Option Term  shall automatically be deemed expired without any further action on the part of any Party.  The second payment of 850,000 pounds sterling (£850,000) shall be due upon discovery  of at least two (2) potential preclinical candidates that meet the following criteria in  Exhibit 2.2R: BRD4 BDII activity (Kd/XC50, nM); BRD4 BDI/BDII ratio; Oral PK  (M/R), F; and Oral PK (M/R), T0.5 (min). In4Derm shall use commercially reasonable  efforts to deliver this data for between 2-4 potential preclinical candidates by August 31,  2022. If the second payment is not received by the time In4Derm delivers this data on or  around August 31, 2022, the Option and the Option Term shall automatically be deemed  expired without any further action on the part of any Party.  For clarity, the two payments set forth above shall be in addition to the upfront fee payable by  VYNE to In4Derm under the OLA upon exercise of the option.  Except as expressly provided in this letter, all terms and provisions of the OLA, as amended,  including as it relates to the ownership of intellectual property, are and will remain in full force  and effect and are hereby ratified and confirmed.  This letter agreement shall be governed by the laws of England and Wales, without giving effect  to any choice of law principles that would require the application of the laws of a different  province or territory. 

 

If the foregoing accurately reflects our understanding, kindly sign and date this letter and return  to the undersigned at the address above.  Very truly yours, VYNE Therapeutics Inc. By: /s/ David Domzalski Name: David Domzalski  Title: Chief Executive Officer VYNE Therapeutics Inc. By: /s/ Iain Stuart Name: Iain Stuart  Title: Chief Scientific Officer Agreed to and accepted: Tay Therapeutics (formerly known as In4Derm Limited) By: /s/ Andrew Woodland  Name: Andrew Woodland Title: Director and Chief Scientific Officer 

 

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