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Originally posted by FreeFromStyle:
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Thats what I think. However what I think doenst really count for much. Investor terminate s this Agreement pursuant to this Section 13.4.5 and Opthea elects to continue Development of the Product and-70-achieves the Success Payment Trigger following such termination, then Opthea will remain obligated to pay to Investor any Success Payments that become due and payable pursuant to Article 6 at the time that such payments become due and payable pursuant to Article 6, reduced by the amount of any Change of Control Payment previously paid by Opthea, provided that the Fixed Success Payments and the Fixed Return Cap will be adjusted as set forth in Section 6.3.(a) Data Read-Out for the COAST Trial and (b) Data Read-Out for the ShORe Trial , Opthea shall use Commercially Reasonable Efforts to ensure the aggregate cash and cash equivalents held in its deposit accounts (the “Minimum Cash Accounts”) are at all times equal to at least [***]. If the cash and cash equivalents held in the Minimum Cash Accounts is at any time less than [***] (the “Minimum Cash Threshold”), Opthea shall promptly (and in any event within [***] Business Days) notify Investor. Following such notification, and unless otherwise agreed with Investor, Opthea shall use reasonable best efforts to consummate a public offering or private placement of its equity securities resulting in aggregate gross proceeds equal to (at least) the difference between [***] and the amount of cash and cash equivalents held in the Minimum Cash Accounts (such difference, the “Minimum Cash Make-Whole”) within [***] thereafter. Opthea shall keep Investor reasonably informed of its progress in consummating such financing. If Opthea is unable to consummate such financing within such [***] period, Investor shall have the right, but not the obligation, to remedy such condition by increasing the funding of Opthea pursuant to this Article 4 (such additional funding amount, the “Minimum Cash Make-Whole Funding”) by an amount not to exceed the Minimum Cash Make-Whole. Any Minimum Cash Make-Whole Funding paid by Investor shall be deemed to be Development Costs, including for purposes of any adjustments to Fixed Success Payments and the Fixed Return Cap made under Section 6.3.
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"Thats what I think. However what I think doenst really count for much
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