Document:

Exhibit 10.58

 

Agreement
to Extend the Lease of an Unprotected Leased Premises of 

January
16, 2017

Which
was written and signed on January 21st, 2018

 

	By
    and between:	 	Green
    Power Ye. Ym Ltd. Co. no. 514876952
	 	 	13
    Gad Feinstein St, Rehovot
	 	 	(hereinafter
    the “Company”)

 

Of
the first part;

 

	And:	 	SciVac
    Ltd. Co. no. 513679555
	 	 	13
    Gad Feinstein St. Rehovot
	 	 	P.O.
    Box 580 7610303
	 	 	(hereinafter
    the “Tenant”)

 

Of
the second part;

 

	Whereas:	 	On
    November 5th, 2013 Ayalot Investments (Ramat Vered) 1994 Ltd. and Sharda Ltd. (hereinafter collectively referred
    to as the “Original Lessor”) signed a Main Lease Agreement including all appendixes thereof with the Company
    with respect to the leased premises (the Main Lease Agreement including all appendixes thereof shall be referred to hereinafter
    as the “Main Lease Agreement”);
	 	 	 
	And
    whereas:	 	A
    Sub- Lease Agreement including all appendixes thereof was signed between the Company and the Tenant (hereinafter the lease
    agreement and all of its appendixes shall be hereafter referred to as the “Sub- Lease Agreement”) with
    respect to the leased premises, from January 16th, 2017 till January 22nd, 2018 for a period of twelve
    (12) months (hereinafter the “Original Sub- Lease Period”);
	 	 	 
	And
    whereas:	 	It
    was agreed by and between the parties that the Tenant will be given an Option to extend the sub- lease period for an additional
    period of twelve (12) additional months, under the same terms and conditions as were agreed upon in the original sub- lease
    period (hereinafter the “Option”);
	 	 	 
	And
    whereas:	 	The
    Tenant wishes to exercise the Option granted to him and the Company agrees to this, all in accordance with the terms set forth
    in the Sub- Lease Agreement and subject to the changes set forth in this agreement hereafter;

 

    	 	 	 

     

    

 

Therefore
it is agreed, declared and stipulated by and between the parties as follows:

 

	 	1.	The
    preamble of this addendum and its appendixes thereof constitute an integral part hereof.
	 	 	 
	 	2.	The
    terms used in this addendum shall have the meaning assigned to in the original Sub- Lease Agreement.
	 	 	 
	 	3.	The
    provisions in this addendum amends and changes the Sub- Lease Agreement only in sections and/or provisions that shall be amended
    and/or added in this addendum. The sections that will be amended and/or added will prevail over the provisions in the Sub-
    Lease Agreement. The other terms of the Sub- Lease Agreement will apply in full, without any change to the lease of the leased
    premises.
	 	 	 
	 	4.	It
    is hereby agreed that the lease term in the leased premises will be extended for an additional period of twelve (12) additional
    months which will begin on the 23rd of January 2018 and it will end on the 22nd of January 2019 (hereinafter
    the “Additional Lease Period” or the “Option Exercise Period”), in accordance with the
    Option in the Sub- Lease Agreement.
	 	 	 
	 	5.	The
    rent will include all current payments that are required by virtue of the Main Lease Agreement and the Sub- Lease Agreement
    including however not limited to, the management fees, municipal taxes, water and electricity, that will be in the amount
    of twenty- five thousand NIS (25,000) per month in addition to VAT (hereinafter the “Rent”). Notwithstanding
    the aforesaid, in a month in which the consumption of electricity in the leased premises is greater than one thousand five
    hundred NIS (1,500) the Tenant shall pay the Company the difference.
	 	 	 
	 	6.	Upon
    signing this agreement the Tenant will deliver to the Company four (4) checks each in the amount of seventy five thousand
    NIS (75,000) in addition to VAT.
	 	 	 
	 	7.	It
    is agreed by and between the parties that in the event of a delay in payment of the rent to the Company, provided that written
    notice was given to the Company, twenty- one (21) days in advance, during which the debt was not paid, the Tenant will pay
    to the Company liquidated damages in the amount of ten thousand NIS (10,000). This compensation will not derogate from any
    other remedy to which the Company will be entitled for this delay.
	 	 	 
	 	8.	Except
    for the modifications specified above, the entire provisions set forth in the Sub- Lease Agreement shall apply, mutantis
    mutandis, and this addendum shall be deemed as part of the Sub-Lease Agreement for all intents and purposes with respect
    to the Additional Lease Period.

 

And
in witness hereof the parties are hereby undersigned:

 

	Avi
    Mazaltov General Manager 	 	Green
    Power Ye. Ym Ltd. 
	Scivac
    Ltd. 	 	Co.
    no.514876952
	/s/
    Avi Maxaltov	 	/s/
    Green Power Ye. Ym Ltd.
	The
    Tenant	 	The
    CompanyExhibit 10.59

 

WAIVER
AGREEMENT

 

THIS
WAIVER AGREEMENT (this “Agreement”), dated as of February 21, 2018, is entered into by and among VARIATION
BIOTECHNOLOGIES (US), INC., a Delaware corporation (the “Borrower”); the Guarantors identified under the caption “GUARANTORS”
on the signature pages hereto, and Perceptive Credit Holdings, LP, a Delaware limited partnership (the “Lender”).
Terms used herein without definition shall have the meanings ascribed to them in the Credit Agreement defined below.

 

RECITALS

 

WHEREAS,
the Lender, the Borrower and the Guarantors entered into that certain Amended and Restated Credit Agreement and Guaranty dated
as of December 6, 2016, as amended from time to time (the “Credit Agreement”), pursuant to which the Lender
has made certain loans and financial accommodations available to Borrower;

 

WHEREAS,
pursuant to Section 7.1(c) of the Credit Agreement the Borrower is required, among other things, to deliver to the Lender consolidated
financial statements of Parent for each Fiscal Year, which financial statements are to be audited without any Impermissible Qualification;

 

WHEREAS,
EISNERAMPER LLP, the independent public accounting firm (the “Auditor”) retained to audit Parent’s consolidated
financial statements for the Fiscal Year ended December 31, 2017 (the “2017 Audited Financial Statements”),
has informed Parent and the Borrower that its audit opinion letter with respect to such audit will contain an Impermissible Qualification;

 

WHEREAS,
a true and correct copy of the Auditor’s draft audit opinion for the 2017 Audited Financial Statements containing the Impermissible
Qualification is attached hereto as Annex A (the “Proposed Audit Opinion”);

 

WHEREAS,
the Borrower and the Guarantors have requested that the Lender waive the Default that will occur as a result of the Borrower’s
delivery of the 2017 Audited Financial Statements being subject to the Impermissible Qualification contained in the Proposed Audit
Opinion (the “Impermissible Qualification Default”), which the Lender has agreed to do subject to the terms
and provisions hereof.

 

NOW,
THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the Lender, the Borrower and the Guarantors hereby agree as follows.

 

1.
       Waiver. Subject to the terms and conditions set forth herein, and so long
as (i) the 2017 Audited Financial Statements are delivered to the Lender on a timely basis as required pursuant to Section 7.1(c)
of the Credit Agreement, (ii) the Proposed Audit Opinion, in substantially the form as attached as Annex A, is delivered
along with the 2017 Audited Financial Statements (without any material change or modification thereto) and (iii) at the time of
delivery of such 2017 Audited Financial Statements and Proposed Audit Opinion, no other Event of Default shall have occurred and
be continuing or, with passage of time, the giving of notice or both, would occur, the Lender will be deemed to have waived, for
all purposes of Sections 9.1.4 and 11.1 of the Credit Agreement, the Impermissible Qualification Default, all without need of
further action or notice of any kind.

 

    	 	 	 

     

    

 

2.       Effect
of this Agreement.

 

	 	a.	Except
    as otherwise expressly provided herein, nothing contained herein shall prejudice, waive or alter, or be deemed to prejudice,
    waive or alter, any of the Lender’s rights and remedies under the Credit Agreement or any of the other Loan Documents
    against the Borrower or the Guarantors or any assets of the Guarantors.
	 	 	 
	 	b.	No
    changes or modifications to the Credit Agreement or the other Loan Documents are intended or implied, and, in all respects,
    the Credit Agreement and the other Loan Documents shall continue to remain in full force and effect in accordance with their
    terms as of the date hereof. Except as specifically set forth herein, nothing contained herein shall evidence (nor is there
    any intent to evidence) a waiver by the Lender of any other provision of the Credit Agreement or any of the other Loan Documents
    nor shall anything contained herein be construed as a consent by the Lender to any transaction other than those specifically
    consented to herein.

 

3.       Successors
and Assigns. The terms and provisions of this Agreement shall be for the benefit of the parties hereto and their respective
successors and assigns; no other person, firm, entity or corporation shall have any right, benefit or interest under this Agreement.

 

4.       Counterparts.
This Agreement may be signed in counterparts, each of which shall be an original and all of which taken together constitute
one and the same document. In making proof of this Agreement, it shall not be necessary to produce or account for more than one
counterpart signed by the party to be charged. This Agreement may be executed and delivered via facsimile or other means of electronic
communication with the same force and effect as if it were a manually executed and delivered counterpart.

 

5.
       Choice of Law. The rights and obligations hereunder of each of the parties
hereto shall be governed by and interpreted and determined in accordance with the internal laws of the State of New York (without
giving effect to principles of conflicts of laws).

 

6.
       Entire Agreement. This Agreement sets forth the entire agreement and understanding
of the parties with respect to the matters set forth herein. This Agreement cannot be changed, modified, amended or terminated
except in a writing executed by the party to be charged.

 

[Signature
page follows]

 

    	 	 	 

     

    

 

IN
WTINESS WHEREOFF, THE PARTIES HAVE TNERED INTO THIS Agreements as of the date first above written.

 

	 	PERCEPTIVE
    CREDIT HOLDINGS, LP, as the Lender
	 	 	 
	 	By:
    Perceptive Credit Opportunities GP, LLC its general partner
	 	 	 
	 	By:
    	/s/
    Sandeep Dixit
	 	Name:
    	Sandeep
    Dixit 
	 	Title:
    	Chief
    Credit Officer 
	 	 	 
	 	By:
    	/s/
    Sam Chawla
	 	Name:	Sam
                                         Chawla

	 	Title:
    	Portfolio
    Manager

 

	ACKNOWLEDGED
    AND ACCEPTED: 	 
	 	 	 
	BORROWER:
    	 
	 	 	 
	VARIATION
    BIOTECHNOLOGIES (US), INC., as the Borrower 	 
	 	                                                      	 
	By:
    	/s/
    Jeff Baxter	 
	Name:
    	Jeff
    Baxter	 
	Title:
    	Chief
    Executive Officer	 

 

	GUARANTORS:
    	 
	 	                                                      	 
	VARIATION
                                         BIOTECHNOLOGIES, INC., 

                                                                     as
                                         Guarantor
	 
	 	 	 
	By:
    	/s/
    Jeff Baxter	 
	Name:
    	Jeff
    Baxter	 
	Title:
    	Chief
    Executive Officer	 

 

    	 	 	 

     

    

 

	VBI
    VACCINES INC., 

    as Guarantor	 
	 	                                                      	 
	By:
    	/s/
    Jeff Baxter	 
	Name:
    	Jeff
    Baxter	 
	Title:
    	Chief
    Executive Officer	 

 

	VBI
    VACCINES (DELAWARE) INC., 

    as Guarantor	 
	 	                                                      	 
	By:
    	/s/
    Jeff Baxter	 
	Name:
    	Jeff
    Baxter	 
	Title:
    	Chief
    Executive Officer 	 
	 	 	 
	SCIVAC
                                         LTD, 

                                                                     as
                                         Guarantor
	 
	 	 	 
	By:	/s/
    Jeff Baxter	 
	Name:
    	Jeff
    Baxter	 
	Title:
    	Chief
    Executive Officer	 

 

    	 	 	 

     

    

 

ANNEX
A

 

REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

The
Board of Directors and Stockholders of

VBI
Vaccines, Inc.

 

Opinion
on the Financial Statements 

 

We
have audited the accompanying consolidated balance sheets of VBI Vaccines, Inc. and Subsidiaries (the “Company”) as
of December 31, 2017 and 2016, and the related consolidated statements of operations and comprehensive loss, stockholders’
equity, and cash flows for each of the years then ended, and the related notes (collectively referred to as the “financial
statements”). In our opinion, the financial statements present fairly, in all material respects, the consolidated financial
position of the Company as of December 31, 2017 and 2016, and the consolidated results of their operations and their cash flows
for each of the years then ended, in conformity with accounting principles generally accepted in the United States of America.

 

Going
Concern

 

The
accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern.
As discussed in Note 1 to the consolidated financial statements, the Company has incurred, and it anticipates it will continue
to incur, significant losses and generate negative operating cash flows and as such will require significant additional
funds to continue its development activities to ultimately achieve commercial launch of its products. These factors raise substantial
doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are also described
in Note 1. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

 

Basis
for Opinion 

 

These
financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on
the Company’s financial statements based on our audits. We are a public accounting firm registered with the Public Company
Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company
in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission
and the PCAOB.

 

We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error
or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial
reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not
for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting.
Accordingly, we express no such opinion.

 

Our
audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to
error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence
regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles
used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that our audits provide a reasonable basis for our opinion.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}]]