Exhibit 10.15
FIRST AMENDMENT
TO
SENIOR LOAN AND SECURITY AGREEMENT
THIS FIRST AMENDMENT TO SENIOR LOAN AND SECURITY AGREEMENT is entered into
as of March 31, 2005 (the "AMENDMENT"), by and between HERCULES TECHNOLOGY
GROWTH CAPITAL, INC. ("LENDER") and OMRIX BIOPHARMACEUTICALS, INC. ("BORROWER").
RECITALS
Borrower and Lender are parties to that certain Senior Loan and Security
Agreement dated as of March 31, 2005 (the "AGREEMENT"). A discrepancy exists
between the Agreement and the Promissory Note attached as an exhibit to the
Agreement in respect of the calculation of interest. The parties desire to amend
the Agreement to correct such discrepancy and to provide Borrower additional
time to provide an account control agreement, in accordance with the terms of
this Amendment.
NOW, THEREFORE, the parties agree as follows:
1. The reference in the fourth sentence of Section 2.2 to "365" is amended
to read "360". The fifth sentence of Section 2.2 is amended to read as follows:
"Each Advance shall be due and payable in monthly installments of accrued
interest only on the first day of each month from the date of such Advance
through October 1, 2005 (the "INTEREST ONLY PAYMENT DATES"), followed by equal
monthly installments of principal and interest computed on the basis of a thirty
(30) month amortization schedule, beginning October 1, 2005 and continuing
through March 1, 2008, on which the final payment (the "MATURITY DATE PAYMENT")
consisting of the entire outstanding principal balance and all accrued interest
shall be due and payable."
2. Borrower shall have until June 15, 2005, to provide the Account
Control Agreement(s) specified in Section 3.5.
3. Unless otherwise defined, all initially capitalized terms in this
Amendment shall be as defined in the Agreement. This Amendment may be executed
in two or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one instrument.
IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the
first date above written.
OMRIX BIOPHARMACEUTICALS, INC.
By: /s/ XXXXXXX XXXXXXXXX
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Title: CFO
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
By: /s/ Xxxxx Xxxxxx
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Title: Chief Legal Officer
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