CREDIT AND SECURITY AGREEMENT
THIS CREDIT AND SECURITY AGREEMENT (as the same may be amended, supplemented,
restated or otherwise modified from time to time, the “ Agreement ”) is dated as of June 30, 2006 by and
among ADVANCIS PHARMACEUTICAL CORPORATION (“Advancis”), a Delaware corporation, and
any additional Borrower that may hereafter be added to this Agreement (Advancis and each other Borrower
hereafter added to this Agreement, individually as a Borrower and collectively as Borrowers), MERRILL
LYNCH CAPITAL, a division of Merrill Lynch Business Financial Services Inc. , individually as a
Lender, and as Agent, and the financial institutions or other entities from time to time parties hereto, each as a
Borrowers have requested that Agent and Lenders make available to Borrowers term, revolving and letter of
credit financing facilities as described herein. Agent and Lenders are willing to extend such credit to Borrowers
under the terms and conditions herein set forth.
NOW, THEREFORE , in consideration of the premises and the agreements, provisions and covenants herein
contained, Borrowers, Lenders and Agent agree as follows:
ARTICLE 1 — DEFINITIONS
Section 1.1 Certain Defined Terms.
The following terms have the following meanings:
“ Account Debtor ” means “account debtor”, as defined in Article 9 of the UCC, and any other obligor in
respect of an Account.
“ Accounts ” means collectively (a) any right to payment of a monetary obligation, whether or not earned by
performance, (b) without duplication, any “account” (as defined in the UCC), any accounts receivable (whether
in the form of payments for services rendered or goods sold, rents, license fees or otherwise), any “health-care-
insurance receivables” (as defined in the UCC), any “payment intangibles” (as defined in the UCC) and all other
rights to payment and/or reimbursement of every kind and description, whether or not earned by performance,
(c) all ac