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DYAX » Topics » A = the Applicable Percentage;

This excerpt taken from the DYAX 8-K filed Aug 29, 2006.

A     =      the Applicable Percentage;

B     =      the Gross Payments;

C     =      ****** Payments;

D     =      FTE Payments; and

E      =      Reimbursement Payments; and,

F      =      Payments due to Assignee pursuant to Sections 5.11(c)(i), 5.12(c) or 5.12(f),

but such amount shall in no event be less than the Guaranteed Minimum Payments.

 

Confidential materials omitted and filed separately with the Securities and Exchange
Commission.  Asterisks denote such omission.

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(d)           The Assignee Concentration Account shall be held solely for the benefit of Assignee, subject to the terms and conditions of this Agreement.  Assignee shall have immediate and full access to any funds held in the Assignee Concentration Account and such funds shall not be subject to any conditions or restrictions whatsoever.  The Company Concentration Account shall be held solely for the benefit of Company, subject to the terms and conditions of this Agreement, the Security Agreement and the other Transaction Documents.  Subject to the terms and conditions of this Agreement, the Security Agreement and the other Transaction Documents, Company shall have immediate and full access to any funds held in the Company Concentration Account and such funds shall not be subject to any conditions or restrictions whatsoever other than those of the Lockbox Bank, provided, however, that nothing herein shall (i) affect or reduce Company’s obligations to pay in full all amounts due to Assignee under this Agreement, or (ii) in any manner limit the recourse of Assignee to the assets of Company to satisfy Company’s obligations.

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