Subject to the terms and conditions set forth herein, # the L/C Issuer agrees, in reliance upon the agreements of the ​ set forth in this [Section 2.03], # from time to time on any Business Day during the period from the Closing Date until the Letter of Credit Expiration Date, to issue Letters of Credit for the account of the Borrower, and to amend or extend Letters of Credit previously issued by it, in accordance with subsection # below, and # to honor drawings under the Letters of Credit; and # the ​ severally agree to participate in Letters of Credit issued for the account of the Borrower and any drawings thereunder; provided that after giving effect to any L/C Credit Extension with respect to any Letter of Credit, # the Total Revolving Outstandings shall not exceed the Aggregate Revolving Commitments, # the Revolving Credit Exposure of any Lender shall not exceed such Lender’s Revolving Commitment, and # the Outstanding Amount of the L/C Obligations shall not exceed the Letter of Credit Sublimit. Each request by the Borrower for the issuance or amendment of a Letter of Credit shall be deemed to be a representation by the Borrower that the L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the terms and conditions hereof, the Borrower’s ability to obtain Letters of Credit shall be fully revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed.

Increase of Maximum Aggregate Commitment. [Section 2.7] is added following [Section 2.6] of the Repurchase Agreement and shall read as follows:

Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof, each Issuing Bank agrees to issue Letters of Credit from time to time in Dollars up to 30 days prior to the Revolving Termination Date upon the request of the Company; provided that, immediately after each Letter of Credit is issued # the Total Outstanding Amount shall not exceed the Aggregate Revolving Commitment and # the aggregate amount of the Letter of Credit Liabilities shall not exceed $50,000,000; provided that no Bank shall be obligated for any amount in excess of its Revolving Commitment. Upon the date of issuance by an Issuing Bank of a Letter of Credit, such Issuing Bank shall be deemed, without further action by any party hereto, to have sold to each Bank, and each Bank shall be deemed, without further action by any party hereto, to have purchased from the Issuing Bank, a participation in such Letter of Credit and the related Letter of Credit Liabilities in the proportion its Revolving Commitment bears to the Aggregate Revolving Commitment.

Effectiveness of Commitment Increase by Borrower. Each Assuming Lender, if any, shall become a Lender hereunder as of such Commitment Increase Date and the Commitment of the respective Class of any Increasing Lender and such Assuming Lender shall be increased as of such Commitment Increase Date; provided that:

No Defaulting Lender shall be entitled to receive any fee described in Section 5.1 for any period during which that Lender is a Defaulting Lender (and Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender).

For a Run, Evelo will pay to Biose amounts as follows: # an Engineering Run fee will be ​; and # a GMP Run fee will be ​; provided, however, if Evelo elects to forego an Engineering Run for a given Strain before having Biose perform a GMP Run with such Strain, Evelo will pay to Biose ​ for such GMP Run (i.e., an additional ​ more than the normal ​ GMP Run fee). The Run fees above are fixed for the term of this Agreement, and do not include ​.

Amendment to the Definition of Commitment. The definition of “Commitment” set forth in [Section 1.1] of the Loan Agreement shall be amended and restated in its entirety to read as follows:

“Term Commitment” means either a Term AA-1 Commitment, Term A-2 Commitment, Term B-1 Commitment or a Term BB-2 Commitment or any term loan commitment established pursuant to an Additional Credit Extension Amendment.

any Commitment, refers to whether such Commitment is an Extended Revolving Commitment (of the same Extension Series), an Incremental Term Commitment of any Series, a Refinancing Term Commitment of any Series or a Revolving Commitment (other than an Extended Revolving Commitment) and # any Lender, refers to whether such Lender has a Loan or Commitment of a particular Class.

“Commitment” means a Term Commitment, and Incremental Term Commitment or a Revolving Commitment, as the context may require.