Emisphere Technologies, Inc. announced that it has reached agreement with MHR Fund Management LLC, and certain of its affiliated funds ("MHR") to waive certain of the terms of the Company's existing obligations under the loan facility and various promissory notes previously issued to MHR, and the royalty agreement which provides for payments to MHR based on sales of the Company’s Eligen® B12 product, in addition to revising the royalty payment terms of the Company’s existing GLP-1 Development and License Agreement with Novo Nordisk A/S. Reduction in Principal Loan Amount. MHR agreed to revise the terms of the loan facility to provide for a permanent reduction of $7 million to the outstanding principal amount owed to MHR. This reduction will become effective upon the first commercial sale of a product under the GLP-1 Agreement. Suspension of cash sweep and permanent waiver of existing $7 million obligation to MHR. The cash proceeds sweep provided for in both the loan facility and certain of the promissory notes has been suspended until October 2018, except in certain circumstances where proceeds subject to the sweep exceed $5 million in any twelve month period. In addition, MHR agreed to irrevocably waive the application of the cash proceeds sweep that would have required payment to MHR of  approximately $7 million resulting from proceeds  received by the Company from Novo Nordisk in 2015.