FOURTH AMENDMENT TO LOAN AGREEMENT
FOURTH
AMENDMENT TO LOAN AGREEMENT
THIS
FOURTH AMENDMENT TO LOAN AGREEMENT (the "Amendment") is entered into as of
May
31, 2006 by and between UTAH MEDICAL PRODUCTS, a Utah corporation ("Borrower"),
and U. S. BANK NATIONAL ASSOCIATION ("Bank").
Recitals
A.
Borrower and Bank have entered into that certain Loan Agreement (the
“Agreement”) dated as of July 3, 2002 and related documents (as amended by a
First Amendment thereto, a Second Amendment thereto, and a Third Amendment
thereto) pursuant to which Bank has agreed to extend certain credit to Borrower
in accordance with its terms. Capitalized terms shall have the meanings given
by
the Agreement unless otherwise defined.
B.
Borrower and Bank wish to extend the Loan termination date under the Agreement
and the maturity date under the Note to May 31, 2008.
Agreement
NOW,
THEREFORE, in consideration of the promises contained herein, and each intending
to be legally bound hereby, the parties agree as follows:
1.
The
Agreement and the other Loan Documents are hereby amended to provide that
the
Loan termination date (and the maturity date under the Note) shall be extended
to May 31, 2008.
2.
Borrower hereby acknowledges the continued validity and enforceability of
the
Loan Documents, as amended hereby, and acknowledges that Borrower has no
defense, claim or counterclaim with respect to its Obligations under the
Loan
Documents.
3.
All
other terms of the Agreement and the other Loan Documents shall remain valid
and
enforceable as modified hereby.
4.
This
Amendment may be executed in counterparts.
IN
WITNESS WHEREOF, the parties hereto have duly executed this Amendment as
of the
day and year first above written.
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UTAH
MEDICAL PRODUCTS
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U.
S. BANK NATIONAL ASSOCIATION
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By:
/s/ Xxxxx X.
Xxxxxxxx
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By:
/s/ Xxxxx X.
Xxxxxxxx
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Its:
CEO
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Its:
Vice
President
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