Promissory Note Maturity Date Confirmation Letter between Patrick W. Trown and Biomira, Inc.

Contract Categories: Business Finance › Note Agreements
Summary

This letter agreement between Patrick W. Trown and Biomira, Inc. confirms that the principal and accrued interest on a previously issued promissory note are due and payable on April 28, 2008. Both parties acknowledge and agree to this maturity date, clarifying their mutual understanding regarding the timing of repayment.

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EX-10.52 48 a2179452zex-10_52.htm EX-10.52

Exhibit 10.52

May 31, 2007

Dr. Patrick W. Trown

Danville, California
94506

Dear Mr. Trown:

        Reference is made to that certain Promissory Note (the "Promissory Note") entered into by and between Patrick Trown ("Debtor") and Biomira, Inc., a Canadian corporation (together with its successors and assigns, "Lender"), dated as of November 8, 2006. The purpose of this letter is to confirm our mutual understanding with respect to the date on which the principal amount of the Promissory Note, together with all interest accrued up to and including the date of payment, shall be due and payable by Debtor to Lender (the "Maturity Date"). The Maturity Date of the Promissory Note, as originally intended by Debtor and Lender, is April 28, 2008.

Sincerely,    

    /s/ Edward A. Taylor
 
 

Edward A. Taylor
Vice President, Finance & Administration
Chief Financial Officer
 
 

ACKNOWLEDGED AND AGREED
 
 

Name:
Patrick W. Trown
 
 

Signature:
/s/ Patrick W. Trown
 
 

Dated:
July 6, 2007