Document:

Exhibit 1021

		
			Exhibit 10.21
		

		
			NEGATIVE PLEDGE AGREEMENT
		

		
			 
		

		
			This NEGATIVE PLEDGE AGREEMENT (as amended, restated, supplemented or otherwise modified from time to time, this "Agreement") is executed as of January 25, 2016 by MONRO MUFFLER BRAKE, INC., a New York corporation ("Borrower"), MONRO SERVICE CORPORATION, a Delaware corporation ("Monro Service"), and CAR-X, LLC, a Delaware limited liability company (together with Borrower and Monro Service, collectively, the "Companies", and each individually a “Company”) to and for the benefit of CITIZENS BANK, N.A., as administrative agent (in such capacity, "Administrative Agent") for the Lenders ("Lenders") party to the Credit Agreement (defined below).
		

		
			 
		

		
			A. Borrower, Administrative Agent and the Lenders have executed a Credit Agreement dated as of even date herewith (as amended, restated, supplemented or otherwise modified from time to time, the "Credit Agreement"), together with certain other Loan Papers.
		

		
			 
		

		
			B. The execution and delivery of this Agreement is a condition to the execution of the Credit Agreement and the other Loan Papers by Administrative Agent and the Lenders and is an integral part of the transactions contemplated by the Loan Papers and a condition precedent to the obligations of Administrative Agent and the Lenders to extend credit under the Credit Agreement.
		

		
			 
		

		
			NOW THEREFORE in consideration of the premises and other valuable consideration, the receipt and adequacy of which are acknowledged, each of the Companies covenants and agrees with Administrative Agent as follows:
		

		
			 
		

		
			1. Certain Definitions.  Unless otherwise defined in this Agreement, each capitalized term used but not defined in this Agreement will have the meaning given that term in the Credit Agreement. As used in this Agreement, the following terms have the meanings indicated:
		

		
			 
		

		
			Credit Agreement has the meaning given in the Recitals.
		

		
			 
		

		
			Default means a Default as defined in the Credit Agreement.
		

		
			 
		

		
			Obligations means (a) the Obligation as defined in the Credit Agreement, (b) all indebtedness, liabilities and obligations of any Company arising under this Agreement, (c) interest accruing on, and attorneys' fees, court costs, and other costs of collection reasonably incurred in the collection or enforcement of, any of the indebtedness, liabilities, or obligations described in Clauses (a) and (b) of this definition, and (d) any and all renewals and extensions of, or amendments to, any of the indebtedness, liabilities, and obligations described in Clauses (a) through (c) of this definition.
		

		
			 
		

		
			2. Property.  Except as permitted under the Credit Agreement or any other Loan Papers (including as to Permitted Mortgages, as defined in the Credit Agreement), each of the Companies hereby agrees that, for so long as any part of the Obligations remains outstanding, it will not, without first obtaining the prior written consent of Administrative Agent, which at the sole discretion of Administrative Agent may be recorded in the jurisdiction in which the affected property is situated, (i) create or permit any lien, encumbrance, charge, or security interest of any kind to exist on any of the real properties owned now or in the future by such Company, including, without limitation, those properties described on EXHIBIT A attached hereto (collectively, the "Properties" and individually, each a “Property”) or (ii) transfer, sell, assign or in any manner dispose of all or any part of any of the Properties or any interest therein.
		

		
			 
		

		
			3. Recording.  Administrative Agent is hereby authorized and permitted to cause this Agreement to be recorded as to any or all of the Properties (along with any legal description that may be required to be included for purposes of proper recording as to the applicable Properties) at such time and at such places as Administrative Agent, at its option, may elect.
		

		
			 
		

		
			4. Representations and Warranties of the Companies.  Each Company represents and warrants to Administrative Agent and the Lenders as follows:
		

		

		

		 

 

		 
		

		
			 (i) Such Company owns the Properties as described on EXHIBIT A hereto and there are no existing liens or encumbrances upon or affecting the Properties other than Permitted Liens.
		

		
			 
		

		
			 (ii) That this Agreement constitutes the legal, valid and binding obligation of such Company enforceable in accordance with its terms, except as enforceability may be limited by applicable Debtor Relief Laws and general principles of equity.  The execution and delivery of this Agreement and the compliance with the provisions hereof will not conflict with or constitute a breach of, or default under, any of the provisions of any other material agreement to which such Company is a party, other than any conflict, breach or default which would not cause a Material Adverse Event.  
		

		
			 
		

		
			5. Default.  Any failure by any Company to comply with the terms of this Agreement and such failure continues for thirty (30) days after the first to occur of (i) such Company knows of or (ii) such Company receives notice from Administrative Agent of, such failure shall constitute a Default and the Companies agree that in such event Administrative Agent and Lenders shall have the right in addition to such other remedies as may be available to it, to file any deeds of trust, mortgages, financial statements or security agreements securing the Obligations as against any Property, and to obtain injunctive relief enjoining such breach of this Agreement and the Companies agree that they shall not urge that such remedy is not appropriate under the circumstances, it being expressly acknowledged by the Companies that such action shall cause Administrative Agent and Lenders irreparable damage for which legal remedies are inadequate to protect Administrative Agent and Lenders.
		

		
			 
		

		
			6. Termination. This Agreement shall remain in full force and effect until the Obligations shall have been paid in full.
		

		
			 
		

		
			7. Governing Law. THIS AGREEMENT SHALL BE GOVERNED, CONSTRUED, AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AND AS APPLICABLE, THE LAWS OF THE UNITED STATES OF AMERICA.
		

		
			 
		

		
			8.Additional Companies or Properties. On or before the end of each fiscal year of the Borrower, if any of the Companies has acquired ownership of any additional real properties that are not described on the Exhibit A then in effect, then the Companies shall provide an update to Exhibit A to the Administrative Agent describing such new real properties, which upon the verification of such information in the updated Exhibit A by the Administrative Agent, shall supplement the Exhibit A attached hereto and shall be deemed a part of this Agreement and incorporated herein by reference.  In the event that any of the Companies creates or has any Subsidiary that owns any real properties not included on the Exhibit A, within 90 days of such event, the Borrower shall cause such Subsidiary to execute, and deliver to the Administrative Agent, a Negative Pledge Agreement in the form of this Agreement, duly executed by such applicable Subsidiary.
		

		
			 
		

		
			 
		

		
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		Executed as of the date set forth in the preamble.
		

		
			 
		

		
			 
		

		
			MONRO MUFFLER BRAKE, INC., a New York corporation
		

		
			 
		

		
			By: /s/ Catherine D’Amico
		

		
			Catherine D'Amico, Executive Vice President of Finance, Chief
		

		
			Financial Officer, and Treasurer
		

		
			 
		

		
			 
		

		
			MONRO SERVICE CORPORATION, a Delaware corporation
		

		
			 
		

		
			By: /s/ Brian J. D’Ambrosia
		

		
			Brian J. D’Ambrosia, Secretary
		

		
			 
		

		
			 
		

		
			CAR-X, LLC, a Delaware limited liability company
		

		
			 
		

		
			
		

		
			By: /s/ Maureen E. Mulholland
		

		
			Maureen E. Mulholland, Vice President 
		

		
			and Secretary
		

		
			 
		

		
			 
		

		
			 
		

		
			STATE OF NEW YORK)
		

		
			) ss.
		

		
			COUNTY OF Monroe)
		

		
			 
		

		
			On the 25th day of January in the year 2016 before me, the undersigned, personally
		

		
			appeared Catherine D'Amico, Executive Vice President of Finance, Chief Financial Officer, and Treasurer of Monro Muffler Brake, Inc., personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that she executed the same in her official capacity, and that by her signature on the instrument, Monro Muffler Brake, Inc. executed the instrument.
		

		
			 
		

		
			/s/ Kimberly A. Rudd
		

		
			Notary Public
		

		
			 
		

		
			[Continued on following page]
		

		
			 
		

		

		

		 

		

			[Signature Page to Negative Pledge Agreement]

		

 

		
		

		
			 
		

		
			STATE OF NEW YORK)
		

		
			) ss.
		

		
			COUNTY OF Monroe)
		

		
			 
		

		
			On the 25th day of January in the year 2016 before me, the undersigned, personally
		

		
			appeared Brian J. D’Ambrosia, Secretary of MONRO SERVICE CORPORATION, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in her official capacity, and that by his signature on the instrument, MONRO SERVICE CORPORATION executed the instrument.
		

		
			 
		

		
			/s/ Kimberly A. Rudd
		

		
			Notary Public
		

		
			 
		

		
			 
		

		
			STATE OF NEW YORK)
		

		
			) ss.
		

		
			COUNTY OF Monroe)
		

		
			 
		

		
			On the 25th day of January in the year 2016 before me, the undersigned, personally
		

		
			appeared Maureen E. Mulholland, Vice President and Secretary of Car-X LLC, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that she executed the same in her official capacity, and that by her signature on the instrument, Car-X, LLC executed the instrument.
		

		
			 
		

		
			/s/ Kimberly A. Rudd
		

		
			Notary Public
		

		
			 
		

		
			[Continued on following page]
		

		

		

		 

		

			 

		

 

		
		

		
			 
		

		
			Accepted:
		

		
			 
		

		
			CITIZENS BANK, N.A., as Administrative Agent
		

		
			 
		

		
			By: /s/ Michael K. Makaitis
		

		
			Name: Michael K. Makaitis 
		

		
			Title: Vice President
		

		
			 
		

		
			 
		

		
			THE COMMONWEALTH OF MASSACHUSETTS)
		

		
			) ss.
		

		
			COUNTY OF SUFFOLK)
		

		
			 
		

		
			On the 22nd day of January in the year 2016 before me, the undersigned, personally appeared Michael K. Makaitis, Vice President of Citizens Bank, N.A., personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her capacity as described in the within instrument, and that by his/her signatures on the instrument, Citizens Bank, N.A. executed the instrument.
		

		
			 
		

		
			/s/ Elizabeth A. Harris
		

		
			Notary Public
		

		

		

		 

		

			 

		

 

		 
		

		
			EXHIBIT A
		

		
			 
		

		
			PROPERTIES
		

		
			 
		

		
			[SEE ATTACHED]EX-10.1

 Exhibit 10.1 

EXECUTION COPY 
 AGREEMENT

 THIS AGREEMENT (the “Agreement”) is made as of February 2, 2016 (the “Effective Date”) by and
among, Titan Pharmaceuticals, Inc., a Delaware corporation (“Titan”), Aventisub LLC, a Delaware limited liability company, the successor-in-interest to Aventisub II Inc. (“Sanofi-Aventis”) and Vanda Pharmaceuticals
Inc., a Delaware corporation (“Vanda”) All entities identified above shall be collectively referred to as the “Parties” and individually as a “Party”. 

WITNESSETH: 

WHEREAS, Sanofi-Aventis, as successor to Hoechst Marion Roussel, Inc. (“HMRI”), and Titan are parties to a Worldwide
License Agreement, effective as of December 31, 1996 (the “HMRI License Agreement”), as amended (the “License Agreement”); 

WHEREAS, pursuant to the License Agreement, Titan and Vanda, as assignee from Novartis Pharma AG, are parties to that certain
Iloperidone Sublicense Agreement, effective as of November 20, 1997, as amended (the “Sublicense Agreement”); 

WHEREAS, the Parties wish to address the payment of the three percent (3%) royalty for KNOW-HOW to manufacture COMPOUND and
PRODUCT that is payable by Titan to Sanofi-Aventis pursuant to Section 3.4 of the License Agreement in certain circumstances; and 

WHEREAS, the Parties also wish to confirm that Vanda shall be solely responsible to pay the amounts payable to Sanofi-Aventis as set
forth in this Agreement. 
 NOW THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for
other good and valuable consideration the receipt of which is hereby acknowledged, the Parties hereby agree as follows: 

1.    Definitions. Capitalized terms used but not otherwise defined herein shall have the meanings
given them in the License Agreement. For purposes of clarification, references to “HMRI” in the License Agreement refer to Aventisub LLC, as the successor-in-interest to HMRI. 

2.    Payments. Notwithstanding anything in the License Agreement to the contrary, the Parties
agree as follows: 
 (a)    In lieu of payment of a three percent (3%) royalty by Titan to
Sanofi-Aventis for KNOW-HOW to manufacture the COMPOUND and PRODUCT as described in Section 3.4(ii) of the License Agreement, (i) Titan shall pay to Sanofi-Aventis an amount equal to three percent (3%) of NET SALES of the PRODUCT (the
“Payment”) from the Effective Date up to November 15, 2016, in each case on TITAN’s, its AFFILIATES’ and SUBLICENSEES’ annual NET SALES in the U.S. and (ii) Vanda shall directly pay to Sanofi-Aventis the
Payment from and including November 16, 2016 until and including December 31, 2019 on VANDA’s, its AFFILIATES’ and SUBLICENSEES’ annual NET SALES in the TERRITORY. 

  
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EXECUTION COPY 
 Notwithstanding the foregoing, within ten
(10) days following full execution of this Agreement, Vanda shall pre-pay to Sanofi-Aventis two million U.S. dollars (US$2,000,000) against Payments that will be due and owing pursuant to Section 2(a)(ii) (the
“Pre-Payment”). Any Payments that become due from Vanda pursuant to Section 2(a)(ii) shall be credited against the Pre-Payment until the full amount of the Pre-Payment has been offset by Payments due and owing by Vanda
hereunder. To the extent the Payments due and owing by Vanda pursuant to Section 2(a)(ii) from and including November 16, 2016 until and including December 31, 2019, exceed two million U.S. dollars (US$2,000,000) prior to
December 31, 2019, Vanda shall pay to Sanofi-Aventis the Payment as set forth herein for the amounts due and owing in excess of two million U.S. dollars (US$2,000,000). If the actual Payments owing by Vanda to Sanofi-Aventis pursuant to
Section 2(a)(ii) do not exceed the Pre-Payment, Sanofi-Aventis shall be entitled to retain any amounts remaining of the Pre-Payment. 

(b)    In addition to the foregoing, within ten (10) days following full execution of this Agreement,
Vanda will pay to Sanofi-Aventis an initial payment equal to three percent (3%) of NET SALES for PRODUCT sold in Mexico and Israel from the date that patent protection for the PATENTS claiming a priority date of May 19, 1989 and
December 29, 1989 in each such country expired through the Effective Date of this Agreement. Thereafter, Vanda shall pay to Sanofi-Aventis the Payment from the date that patent protection for the PATENTS claiming a priority date of May 19,
1989 and December 29, 1989 in a country in the TERRITORY expired through December 31, 2019, except to the extent that the Payment is otherwise made in accordance with Section 2(a) above. 

(c)    For clarity, the amounts payable/creditable pursuant to Sections 2(a) and (b) of this
Agreement are payable/creditable on the dates and manner described in the License Agreement. Such payments are in lieu of any royalties for KNOW-HOW to manufacture COMPOUND and PRODUCT set forth in the License Agreement, which is deemed to be
amended by this Agreement. Such amounts are payable regardless of whether Titan or Vanda, as applicable, utilize, rely upon, or otherwise require the KNOW-HOW to manufacture COMPOUND and PRODUCT. Vanda shall indemnify Titan for payments that Vanda
is obligated to make directly to Sanofi under Section 2(a)(ii) or 2(b) hereof. 
 (d)    Following
receipt of the amounts contemplated under this Agreement, the license for use of KNOW-HOW to manufacture COMPOUND and PRODUCT will be on a world-wide, fully-paid, royalty-free, irrevocable basis, and no further royalties or other amounts on KNOW-HOW
to manufacture COMPOUND and PRODUCT would be due worldwide. 
 (e)    For purposes of clarity, nothing
in this Agreement alters (i) Vanda’s obligation to pay directly to Sanofi royalties for Know-How not related to Manufacturing in any country of the TERRITORY pursuant to the terms of the Sublicense Agreement or (ii) Titan’s
obligations under Section 3.4(i), 3.5 and 3.6 of the License Agreement. 

  
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 EXECUTION COPY 

(f)    By way of illustration, in the United States, PATENTS claiming a priority date of May 19, 1989
and December 29, 1989 will expire on November 15, 2016, accordingly, the royalties payable to Sanofi-Aventis under the License Agreement, as amended by this Agreement, for sales of PRODUCT in the TERRITORY would be as follows: 

(i)    From the Effective Date through November 15, 2016, Titan would pay to Sanofi-Aventis an
amount equal to fifteen percent (15%) on NET SALES in the United States equal (i.e., both the royalty payable in respect of the PATENTS and KNOW-HOW and the Payment). 

(ii)    From November 16, 2016 through December 31, 2019, Vanda would pay directly to
Sanofi-Aventis an amount equal to nine percent (9%) on NET SALES in the United States (i.e., the Payment and the royalty on KNOW-HOW not relating to manufacturing, pursuant to Section 3.5 of the License Agreement), provided that the
Payments (i.e. three percent (3%) of NET SALES) would be credited against the Pre-Payment, and to the extent Payments exceed the Pre-Payment, Vanda would pay such Payments directly to Sanofi-Aventis for amounts due and owing in excess of two
million U.S. dollars (US$2,000,000). 
 (iii)    From January 1, 2020 through November 15,
2026, Vanda would pay directly to Sanofi-Aventis an amount equal to six percent (6%) on NET SALES in the United States (i.e., only the royalty on KNOW-HOW not relating to manufacturing pursuant to Section 3.5 of the License Agreement).

 (g)    For purposes of clarification, each payment made by Vanda hereunder will be governed by terms
and conditions set forth Article 9 of the License Agreement. In the event of any dispute or disagreement with respect to this Agreement, the applicable Parties agree to discuss the issue in good faith prior to instituting any action for breach
hereunder. Titan, Sanofi-Aventis and Vanda agree that Section 14 of the License Agreement shall apply to any disputes between or among the Parties to this Agreement. 

3.    Miscellaneous. 

(a)    Amendments. All references to the License Agreement shall be deemed to refer to the License
Agreement as amended hereby, and the terms of this Agreement are hereby incorporated into the License Agreement. Except as amended hereby, the License Agreement shall remain in full force and effect. Vanda shall be deemed to be a party to the
License Agreement solely to the extent specified in this Agreement. 
 (b)    Successors and
Assigns. This Agreement shall be binding upon and inure to the benefit of Titan, Sanofi-Aventis, Vanda and each of their respective successors and assigns. 

  
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 EXECUTION COPY 

(c)    Governing Law. Section 14 of the License Agreement sets forth the governing law and
jurisdiction sections applicable to this Agreement. 
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 EXECUTION COPY 

IN WITNESS WHEREOF, the Parties hereby have executed this Agreement by proper persons thereunto duly authorized as of the Agreement
Effective Date. 
  

									
		 	AVENTISUB LLC	 		 	TITAN PHARMACEUTICALS, INC.
					
	 By:
	 	/s/ Joseph M. Palladino	 		 	 By:
	 	/s/ Sunil Bhonsle
	Name:	 	Joseph M. Palladino	 		 	Name:	 	Sunil Bhonsle
	Title:	 	President	 		 	Title:	 	President & CEO

									
				
		 	VANDA PHARMACEUTICALS INC.	 		 	
					
	 By:
	 	/s/ Mihael Polymeropoulos	 		 		 	
	Name:	 	Mihael Polymeropoulos	 		 		 	
	Title:	 	CEO	 		 		 	

  
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