Exhibit 10.3
FIRST AMENDMENT TO PURCHASE AND SALE
AGREEMENT AND JOINT ESCROW INSTRUCTIONS
(46 Galli Drive Novato, CA)
THIS FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT (this " First Amendment" ) is effective as of February 23, 2006 by and between WIRRULLA NOVATO LLC, a Washington limited liability company (" Seller" ) and BIOMARIN PHARMACEUTICAL INC., a Delaware corporation (" Buyer" ).
R E C I T A L S :
A. Seller and Buyer are parties to that certain Purchase and Sale Agreement and Joint Escrow Instructions effective as of January 24, 2006 (the " Original Agreement" ).
B. Seller and Buyer desire to amend the Original Agreement in accordance with the terms of this First Amendment to amend the timing of the Contingency Period and the Closing and to waive certain contingencies.
C. The term " Agreement" as used in this First Amendment shall mean and refer to the Original Agreement as amended and modified by this First Amendment. D. All capitalized terms not otherwise specifically defined in this First Amendment shall have meanings ascribed to such terms in the Original Agreement.
NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows:
1. Contingency Period . Section 2.2(a) of the Original Agreement is hereby deleted in its entirety and replaced with the following:
(a) Buyer shall have until 5:00 p.m. PST on the date that is thirty (30) days after the Effective Date in which to review and approve or disapprove (in Buyer' s sole discretion) t ...
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