Amendment to Security Agreement between Array BioPharma Inc. and Deerfield Private Design Funds (May 15, 2009)
Array BioPharma Inc. and Deerfield Private Design Fund, L.P., along with Deerfield Private Design International, L.P., agree to amend their existing Security Agreement dated April 29, 2008. The amendment expands the definition of "Obligations" in the Security Agreement to include all liabilities and obligations of Array BioPharma under a new Facility Agreement dated the same day as this amendment. This ensures that the security interests cover the new financial arrangements between the parties.
Exhibit 10.40
May 15, 2009
Array BioPharma Inc.
3200 Walnut Street
Boulder, CO 80301
Dear Sirs:
Please confirm below that the Security Agreement between us dated as of April 29, 2008 is amended on the date hereof such that the definition of “Obligations” contained therein shall include all of your liabilities and obligations to us under the Facility Agreement dated as of the date hereof between us.
Very truly yours,
Deerfield Private Design Fund, L.P.
| By: | /s/ James Flynn |
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| Name: James Flynn |
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| Title: General Partner |
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Deerfield Private Design International, L.P.
| By: | /s/ James Flynn |
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| Name: James Flynn |
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| Title: General Partner |
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CONFIRMED:
Array BioPharma Inc.
| By: | /s/ R. Michael Carruthers |
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| Name: R. Michael Carruthers |
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| Title: Chief Financial Officer |
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