1
Exhibit 10.27(a)
LOAN SUPPLEMENT AND MODIFICATION AGREEMENT
This Loan Supplement and Modification Agreement ("this Agreement") is made
as of June 2, 1997 by and among Alkermes, Inc., a Pennsylvania corporation
("Alkermes"), Alkermes Controlled Therapeutics, Inc., a Pennsylvania corporation
("ACT I"), Alkermes Controlled Therapeutics Inc. II, a Pennsylvania corporation
("ACT II") (Alkermes, ACT I and ACT II being hereinafter referred to
collectively as the "Borrowers" and individually as a "Borrower") and Fleet
National Bank (the "Bank"). The Bank is the successor by merger to Fleet Bank of
Massachusetts, N.A. ("Fleet Mass"). For good and valuable consideration, receipt
and sufficiency of which are hereby acknowledged, the Borrowers and the Bank
agree as follows:
1. REFERENCE TO DOCUMENTS. Reference is made to (i) that certain letter
agreement dated September 27, 1996 (the "Letter Agreement") among the Borrowers
and the Bank; (ii) that certain $3,187,496 original principal amount promissory
note dated December 23, 1994 made by Alkermes and payable to the order of Fleet
Mass, as amended by Allonge to Note dated September 27, 1996 among Alkermes, ACT
I and the Bank (said December 23, 1994 promissory note, as so amended, being
hereinafter referred to as the "1994 Note"); (iii) that certain $1,500,000
original principal amount promissory note dated December 19, 1995 made by
Alkermes and payable to the order of Fleet Mass, as amended by Allonge to Note
dated September 27, 1996 among Alkermes, ACT I and the Bank (said December 19,
1995 promissory note, as so amended, being hereinafter referred to as the "1995
Note"); (iv) that certain $5,000,000 original principal amount promissory note
dated September 27, 1996 (the "Ohio Term Note") made by Alkermes and ACT II and
payable to the order of the Bank; (v) that certain Security Agreement dated as
of September 27, 1996 (the "Security Agreement") from the Borrowers to the Bank;
(vi) that certain Pledge Agreement (the "Pledge") dated as of September 27, 1996
from Alkermes to the Bank; (vii) that certain Mortgage and Security Agreement
dated as of September 27, 1996 (the "Ohio Mortgage") from ACT II to the Bank
relating to premises of ACT II in Clinton County, Ohio; and (viii) that certain
promissory note of even date herewith (the "1997 Term Note") in the face
principal amount of the $2,500,000 made by the Borrowers and payable to the
order of the Bank. The Letter Agreement, the 1994 Note, the 1995 Note, the Ohio
Term Note, the Security Agreement, the Pledge, the Ohio Mortgage and the 1997
Term Note are hereinafter referred to collectively as the "Financing Documents".
A copy of the form of the 1997 Term Note is attached hereto as Exhibit 1.
2. 1997 TERM LOAN. (a) MAKING OF 1997 TERM LOAN. At the date hereof, the
Bank is making a loan (the "1997 Term Loan") to the Borrowers in the principal
amount of $2,500,000. The 1997
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Term Loan is being made in order to finance costs of Qualifying Equipment
acquired by any Borrower after January 1, 1996 (excluding Ohio Loan Collateral,
as defined in the Security Agreement). The 1997 Term Loan does not exceed 100%
of the invoiced actual costs of the tangible property constituting the items of
Qualifying Equipment with respect to which the 1997 Term Loan is made (excluding
taxes, shipping, software, installation charges, training fees and other "soft
costs"). In connection with the making of the 1997 Term Loan, and as a
precondition thereto, the Borrowers are providing the Bank with: (i) invoices
supporting the costs of the relevant Qualifying Equipment; (ii) such evidence as
the Bank may reasonably request showing that each item of Qualifying Equipment
has been delivered to and installed at Alkermes' or ACT I's premises in
Cambridge, MA (in the case of Qualifying Equipment owned by Alkermes or ACT I)
or ACT II's premises in Clinton County, Ohio and Xxxxxxxx County, Ohio (in the
case of Qualifying Equipment owned by ACT II), has become fully operational, has
been paid for by the relevant Borrower and is owned by the relevant Borrower
free of all liens and interests of any other person or entity (other than the
security interest of the Bank pursuant to the Security Agreement); (iii)
executed Uniform Commercial Code financing statements reflecting the items of
Qualifying Equipment with respect to which the 1997 Term Loan is being made and
an appropriate supplement to the Security Agreement reflecting such items; and
(iv) evidence satisfactory to the Bank that the Qualifying Equipment is fully
insured against casualty loss, with insurance naming the Bank as secured party
and first loss payee. As used herein, "Qualifying Equipment" means equipment
purchased by the Borrowers after January 1, 1996 (excluding Ohio Loan
Collateral, as defined in the Security Agreement) for use in the Borrowers'
business which meets all of the following criteria: (i) such equipment consists
of one of the items shown on the Equipment List heretofore delivered by the
Borrowers to the Bank or has otherwise been approved by the Bank for use in
supporting the 1997 Term Loan, (ii) each item of such equipment has been
delivered to and installed at Alkermes' or ACT I's premises in Cambridge, MA (in
the case of Qualifying Equipment owned by Alkermes or ACT I) or ACT II's
premises in Clinton County, Ohio or Xxxxxxxx County, Ohio (in the case of
Qualifying Equipment owned by ACT II) and has become fully operational, (iii)
the relevant Borrower has paid in full for each item of such equipment and holds
title to same, free of all interests and claims of any other person or entity
(other than the security interest of the Bank), and (iv) the Bank has a fully
perfected first security interest in such equipment. The 1997 Term Loan is
evidenced by the 1997 Term Note. Interest on the 1997 Term Loan
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shall be payable at the times and at the rate provided for in the 1997 Term
Note. Overdue principal of the 1997 Term Loan and, to the extent permitted by
law, overdue interest shall bear interest at a rate per annum which at all times
shall be equal to the sum of (i) two (2%) percent per annum plus (ii) the per
annum rate otherwise payable under the 1997 Term Note (but in no event in excess
of the maximum rate from time to time permitted by then applicable law),
compounded monthly and payable on demand. Each Borrower hereby irrevocably
authorizes the Bank to make or cause to be made, on a schedule attached to the
1997 Term Note or on the books of the Bank, at or following the time of
receiving any payment of principal of the 1997 Term Loan, an appropriate
notation reflecting such transaction and the then unpaid principal balance of
the 1997 Term Loan. The amount so noted shall constitute presumptive evidence as
to the amount owed jointly and severally by the Borrowers with respect to
principal of the 1997 Term Loan. Failure of the Bank to make any such notation
shall not, however, affect any obligation of any Borrower or any right of the
Bank hereunder or under the 1997 Term Note. The 1997 Term Loan is made jointly
to the Borrowers and repayment thereof is the joint and several obligation of
the Borrowers.
(b) REPAYMENT OF 1997 TERM LOAN. The Borrowers shall repay (and shall be
jointly and severally obligated to repay) principal of the 1997 Term Loan in 60
equal consecutive monthly installments, commencing on July 1, 1997 and
continuing on the first business day of each month thereafter. Each such monthly
installment of principal paid with respect to the 1997 Term Loan shall be in an
amount equal to 1/60th of the original principal amount of the 1997 Term Loan.
In any event, the then outstanding principal balance of the 1997 Term Loan and
all interest then accrued but unpaid thereon shall be due and payable in full on
June 3, 2002. The Borrowers may prepay, at any time or from time to time, the
whole or any portion of the 1997 Term Loan; provided that each such principal
prepayment shall be accompanied by payment of all interest under the 1997 Term
Note accrued but unpaid to the date of payment; and further provided that at the
time of each such prepayment the Borrowers pay to the Bank the Make-Whole
Amount, if any, required by the second paragraph of Section 1.6 of the Letter
Agreement in respect of such prepayment. Any partial prepayment of principal of
the 1997 Term Loan will be applied to installments of principal of the 1997 Term
Loan thereafter coming due in inverse order of normal maturity.
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(c) FACILITY FEES. With respect to the 1997 Term Loan, the Borrowers are
paying to the Bank, at the date of execution and delivery of this Agreement, a
non-refundable facility fee in the amount of $12,500. The fee described in this
paragraph is in addition to any balances and fees required by the Bank or any of
its affiliates in connection with any other services now or hereafter made
available to Alkermes and/or any of its affiliates.
3. CONCERNING THE LETTER AGREEMENT. The parties agree as follows with
respect to the Letter Agreement:
a. That the 1997 Term Loan constitutes an "Additional Term Loan" as defined
in Section 1.5 of the Letter Agreement and is thus included within the
definitions of "Term Loan" and "Term Loans" for all purposes of the Letter
Agreement.
b. That the 1997 Term Note constitutes an "Additional Term Note" as defined
in Section 1.5 of the Letter Agreement and is thus included within the
definitions of "Note" and "Notes" for all purposes of the Letter Agreement.
Without limitation of the foregoing provisions of this paragraph 3b and of
paragraph 3a above, the Borrowers acknowledge that the provisions of the Letter
Agreement as to payment and collection of amounts owed thereunder (including,
without limitation, Sections 1.7, 5.2 and 5.3 of the Letter Agreement) and as to
costs, expenses and charges (including, without limitation, Sections 6.1 and 6.2
of the Letter Agreement) apply to the 1997 Term Loan and to the 1997 Term Note.
c. That the 1997 Term Loan is an "Additional Term Loan which bears interest
at a fixed rate" for the purposes of the second paragraph of Section 1.6 of the
Letter Agreement.
d. That Section 6.6 of the Letter Agreement is hereby amended by deleting
therefrom the words "Xxxxxxxxx X. Xxxxxx, Vice President" and by substituting in
their stead the following:
"Irina Case, Assistant Vice President"
4. CONCERNING THE SECURITY AGREEMENT. The parties agree as follows with
respect to the Security Agreement:
a. That the 1997 Term Loan constitutes an "Additional Term Loan" for the
purposes of the Security Agreement and is thus included for all purposes within
the definition of "Obligations" appearing in Section 1 of the Security
Agreement; and that references in Section 17 of the Security Agreement, as
amended
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hereby, to the "1997 Term Loan" will be deemed to refer to the 1997 Term Loan,
as hereinabove defined.
b. That the 1997 Term Note constitutes an "Additional Term Note" for the
purposes of the Security Agreement and is thus included within the definition of
"Loan Documents" appearing in Section 1 of the Security Agreement.
c. That the items listed on Exhibit 2 attached hereto are deemed to be
"Additional Loan Collateral" for the purposes of the Security Agreement and are
thus included within the definitions of "Equipment" and "Collateral" appearing
in Section 1 of the Security Agreement; and that the items listed on Exhibit 2
attached hereto shall also be deemed to be "1997 Loan Collateral" for the
purposes of Section 17 of the Security Agreement.
d. That the equipment lists set forth in Exhibit A to the Security
Agreement are hereby amended by adding thereto (without releasing or deleting
any item shown on such lists immediately prior to the date hereof) all of the
items appearing on Exhibit 2 attached hereto.
e. That Section 17 of the Security Agreement is hereby amended in its
entirety to read as follows:
"17. PARTIAL RELEASE. The Secured Party agrees that, upon the satisfaction
of the Partial Release Conditions (hereinafter defined) in relation to the
1994 Term Loan, the 1995 Term Loan, the Ohio Term Loan or the 1997 Term
Loan, the Secured Party will, at the Debtors' request, execute and deliver
to the Debtors a release of the 1994 Loan Collateral or the 1995 Loan
Collateral or the Ohio Loan Collateral or the 1997 Loan Collateral (as
appropriate) from the lien of this Security Agreement (including
appropriate releases on Form UCC- 3) and, upon execution and delivery of
such release, the 1994 Loan Collateral, the 1995 Loan Collateral, the Ohio
Loan Collateral or the 1997 Loan Collateral (as the case may be) will no
longer be deemed 'Collateral' subject to this Security Agreement. As used
herein, the 'Partial Release Conditions' will be deemed satisfied only if
ALL of the following shall have occurred: (i) the 1994 Term Loan or the
1995 Term Loan or the Ohio Term Loan or the 1997 Term Loan (as the case may
be) shall have been paid in full, (ii) the cash and/or readily-marketable
Government Securities pledged to the Secured Party under Section 1.8 of the
Letter Agreement shall have an aggregate fair market
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value of not less than the 'Required Minimum Value' (as defined in the
Letter Agreement) and Alkermes shall agree to maintain such pledged cash
and/or readily-marketable Government Securities in such amount so that the
fair market value thereof shall never be less than such 'Required Minimum
Value' and (iii) there shall then exist no Event of Default nor any event
or circumstance which, with the passage of time or the giving of notice or
both, could become an Event of Default. At the time of the making of any
Additional Term Loan, the Bank and the Debtors may, by written modification
to this Security Agreement, set forth the circumstances, if any, under
which a partial release may be obtained with respect to the Additional Loan
Collateral pledged in connection with the relevant Additional Term Loan."
5. CONCERNING THE PLEDGE. The parties agree as follows with respect to the
Pledge:
a. That the 1997 Term Note constitutes an "Additional Term Note" as
described in Section 2 of the Pledge, with the result that the 1997 Term Note is
included within the "Loan Documents" as defined in Section 2 of the Pledge.
b. That the 1997 Term Loan is included within the "Secured Obligations" as
defined in Section 2 of the Pledge.
6. CONCERNING THE OHIO MORTGAGE. The parties agree that the 1997 Term Note
constitutes one of the "Other Term Notes" described in the WITNESSETH clause of
the Ohio Mortgage, with the result that the 1997 Term Loan is among the
obligations secured by the Ohio Mortgage.
7. AMENDED DOCUMENTS. Wherever in any Financing Document, or in any
certificate or opinion to be delivered in connection therewith, reference is
made to the Letter Agreement, to the Security Agreement, to the Pledge and/or to
the Ohio Mortgage, from and after the date hereof same will be deemed to refer
to the relevant Financing Document as amended or otherwise affected hereby.
8. REPRESENTATIONS. In order to induce the Bank to enter into this
Agreement, each Borrower represents and warrants as follows:
a. The execution, delivery and performance of each of this Agreement and
the 1997 Term Note have been duly authorized by
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each Borrower by all necessary corporate and other action, will not require the
consent of any third party and will not conflict with, violate the provisions
of, or cause a default or constitute an event which, with the passage of time or
the giving of notice or both, could cause a default on the part of any Borrower
under its charter documents or by-laws or under any contract, agreement, law,
rule, order, ordinance, franchise, instrument or other document, or result in
the imposition of any lien or encumbrance (except in favor of the Bank) on any
property or assets of any Borrower.
b. Each Borrower has duly executed and delivered each of this Agreement and
the 1997 Term Note.
c. Each of this Agreement and the 1997 Term Note is the legal, valid and
binding joint and several obligation of each Borrower, enforceable against each
Borrower jointly and severally in accordance with its respective terms.
d. The statements, representations and warranties made in the Letter
Agreement, in the Security Agreement and/or in the other Financing Documents
continue to be correct as of the date hereof; except as amended, updated and/or
supplemented by the attached Supplemental Disclosure Schedule.
e. The covenants and agreements of the Borrowers contained in the Letter
Agreement, in the Security Agreement and/or in the other Financing Documents
have been complied with on and as of the date hereof.
f. No event which constitutes or which, with notice or lapse of time, or
both, could constitute, an Event of Default (as defined in the Letter Agreement)
has occurred and is continuing.
g. No material adverse change has occurred in the financial condition of
any Borrower from that disclosed in the financial statements of Alkermes dated
December 31, 1996, heretofore furnished to the Bank.
9. FULL FORCE AND EFFECT. Except as expressly affected hereby, the Letter
Agreement and each of the other Financing Documents remains in full force and
effect as heretofore.
10. NO WAIVER. Nothing contained herein will be deemed to constitute a
waiver or a release of any provision of any of the Financing Documents. Nothing
contained herein will in any event be deemed to constitute an agreement to give
a waiver or release
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or to agree to any amendment or modification of any provision of any of the
Financing Documents on any other or future occasion.
Executed, as an instrument under seal, as of the day and year first above
written.
ALKERMES, INC.
By: /s/ Xxxxxxx X. Xxxxxxx
--------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Senior Vice President
and CFO
ALKERMES CONTROLLED
THERAPEUTICS, INC.
By: /s/ Xxxxxxx X. Xxxxxxx
--------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Vice President
ALKERMES CONTROLLED
THERAPEUTICS INC. II
By: /s/ Xxxxxxx X. Xxxxxxx
--------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Vice President
Accepted and agreed:
FLEET NATIONAL BANK
By: /s/ Xxxxxxx Moiauninger
----------------------------------
Name: Xxxxxxx Moiauninger
Title: Vice President
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EXHIBIT 2
Equipment List
--------------
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EXHIBIT 2
1997 LOAN COLLATERAL
ALKERMES/ACTI/ACTII FIXED ASSET LIST
Date of Total Less Less Total
Purchase Company Description Ref # Invoice Freight Sales Tax Invoice
------------------------------------------------------------------------------------------------------------------------------------
ALKERMES EQUIPMENT
FY1996 (APRIL 1995-MARCH 1996)
2/26/96 Amsco (PA) GMP washer 145389 95,239.00 0.00 0.00 95,239.00
2/26/96 Amsco (PA) Parts to GMP washer 145390 27,654.00 0.00 0.00 27,654.00
2/28/96 Amsco Sales (NY) Parts to GMP washer 145625 159.19 2.94 0.00 156.25
2/29/96 Amsco Sales (NY) Parts to GMP washer 145678 183.62 5.54 0.00 178.08
2/29/96 Amsco Sales (NY) Parts to GMP washer 145654 512.50 0.00 0.00 512.50
1/16/96 Beta Star Corporation Mdl 400 con & oq/iq prog 144682 6,925.00 0.00 0.00 6,925.00
1/9/96 Boston Ship Service Kitchen microwave 144031 197.40 0.00 9.40 188.00
2/9/96 Cargocaire Vacuum, 30565-01 145144 2,599.00 100.00 119.00 2,380.00
1/17/96 CDW Computer Centers Microtest discport etc. 144646 963.16 11.16 0.00 952.00
1/30/96 CDW Computer Centers Color Inkjet 144994 350.00 0.00 0.00 350.00
2/20/96 CDW Computer Centers HP printer & monitor 145737 1,230.35 23.35 0.00 1,207.00
3/14/96 CDW Computer Centers Hard drive etc. 146377 2,743.00 0.00 0.00 2,743.00
3/28/96 Danka Industries, Inc. Sharp fax machine 147040 2,369.85 0.00 112.85 2,257.00
2/21/96 Danka Industries, Inc. Sharp fax machine 145938 2,188.20 0.00 104.20 2,084.00
3/26/96 Data Care/Valcom HP vectra/color monitor 146801 3,458.70 42.00 162.70 3,254.00
3/5/96 Dell Direct Nanao flexscan F2-21 145909 2,104.00 75.00 0.00 2,029.00
3/7/96 Dell Direct Dell optiplex system 145945 1,787.10 0.00 85.10 1,702.00
2/13/96 Xxxx Xxxxxx Associates Cart with ledges 145324 618.13 27.61 28.12 562.40
1/19/96 Imaging Research, Inc. Dual lamp desktop illumin. 144578 2,070.00 75.00 0.00 1,995.00
1/25/96 Imnet/Evergreen Tech. Console to mvv opt dsl dr 144648 4,035.00 0.00 0.00 4,035.00
1/26/96 InfoTech Apple laserwriter 144843 2,355.90 27.00 110.90 2,218.00
2/2/96 InfoTech lw 500 sheet feeder 144957 286.20 9.00 13.20 264.00
2/2/96 MacWarehouse HP laserjet 144995 1,080.00 0.00 30.00 1,050.00
1/31/96 MacWarehouse Powerbook etc. 145162 4,500.00 0.00 21.00 4,479.00
2/28/96 MacWarehouse Powermac, keyboard, etc. 145693 7,681.00 75.00 0.00 7,606.00
2/29/96 MacWarehouse Netpatrol pack pro 145794 1,282.00 3.00 0.00 1,279.00
1/4/96 Microcenter Apple laserwriter 144381 2,466.45 0.00 117.45 2,349.00
2/29/96 Microtech International 8mb xxxxx 145694 2,252.27 20.27 0.00 2,232.00
3/15/96 Microtech International Mia 8000/72-06 etc. 146246 4,257.27 27.27 0.00 4,230.00
2/27/96 Microtech International 16&8mb xxxxx 145612 1,114.07 16.07 0.00 1,098.00
2/28/96 Nortel Digital line card etc. 145955 4,023.00 0.00 189.00 3,834.00
1/23/96 PCs Compleat, Inc. Celebris xx xxxxx tower 144479 3,681.27 17.82 174.45 3,489.00
1/25/96 PCs Compleat, Inc. 16mb xxxxx 144643 708.45 4.95 33.50 670.00
3/20/96 PCs Compleat, Inc. Hard drive 146343 6,327.80 29.90 299.90 5,998.00
3/11/96 Radiometer America, Inc. Conductivity meter etc. 146003 1,890.00 0.00 0.00 1,890.00
1/15/96 Xxxxxx Systems Laserwriter etc, 144158 795.00 19.00 0.00 776.00
2/2/96 Xxxxxx Systems SCSI hard disk etc. 145339 1,015.00 20.00 0.00 995.00
1/30/96 VWR Scientific Freezer chest 145293 5,657.00 0.00 0.00 5,657.00
3/5/96 Waters Corporation Bus sat/in module box 145805 2,155.00 5.00 0.00 2,150.00
Page 1
11
EXHIBIT 2
1997 LOAN COLLATERAL
ALKERMES/ACTI/ACTII FIXED ASSET LIST
ALKERMES F&F
FY1996 (APRIL 1995-MARCH 1996)
2/9/96 First Office Concepts Storage cabinet credenza 145120 730.40 29.00 33.40 668.00
1/25/96 Xxxx Xxxxxx Tables, shelves, posts, etc. 144826 3,802.95 161.17 172.42 3,469.36
2/12/96 Xxxx Xxxxxx Stainless steel bench 145114 1,032.90 69.00 45.90 918.00
ALKERMES EQUIPMENT
FY1997 (APRIL 1996-MARCH 1997)
2/28/97 AMC Computers 2 orange PC & 2 orange window 95 155706 4,108.00 20.00 0.00 4,088.00
2/25/97 AMC Computers APMM Apple 20" display 155735 5,430.00 195.00 0.00 5,235.00
3/14/97 AMC Computers APCM4595LL/ Mac ext. keyboard/
carrycage/microsaver 155755 5,799.00 0.00 0.00 5,799.00
3/18/97 AMC Computers APCM4595LL/Mac extended Keyboard II 155876 10,670.00 70.00 0.00 10,600.00
3/18/97 AMC Computers APCM4595LL/Mac extended Keyboard II/
Mitsubishi 155880 7,585.00 175.00 0.00 7,410.00
9/25/96 AMC Computers 3CN3C1667100 3com lonkbuilder 151049 855.00 10.00 0.00 845.00
10/28/96 AMC Computers Apple display and keyboards 152163 6,280.00 40.00 0.00 6,240.00
10/31/96 AMC Computers Apple PC compatibility 152162 2,020.00 10.00 0.00 2,010.00
11/25/96 AMC Computers Apple computer, display, keyboard 152754 8,395.00 75.00 0.00 8,320.00
1/24/97 AMC Computers HP LASERJET MX PRINTER W/TONER 154175 7,800.00 50.00 0.00 7,750.00
1/17/97 AMC Computers APCM/APPLE20"/KEYBOARD 154269 12,620.00 140.00 0.00 12,480.00
1/10/97 AMC Computers APCM/APPLE20"/KEYBOARD 154147 4,200.00 40.00 0.00 4,160.00
1/18/97 AMC Computers APCM/APPLE20"/KEYBOARD 154122 4,210.00 50.00 0.00 4,160.00
2/21/97 AMSCO Interface board, touch panel 154946 2,206.55 43.15 0.00 2,163.40
2/13/97 AMSCO P117580014/Pump 154755 6,385.25 0.00 0.00 6,385.25
3/31/96 Bio-Rad Digilab Division Winir system 146717 13,360.00 0.00 0.00 13,360.00
4/2/96 Bio-Rad Digilab Division Credit ref #146717 152261 -4,870.00 0.00 0.00 -4,870.00
9/30/96 Biotest Purge Filter Assembly 151117 7,881.40 71.40 0.00 7,810.00
3/27/96 CDW Computer Centers Intel Pentium Overdrive 146731 382.46 11.46 0.00 371.00
3/28/96 CDW Computer Centers Intel Pentium Overdrive 146736 256.33 1.33 0.00 255.00
5/23/96 CDW Computer Centers Visionter 16mb dell 148275 356.66 6.66 0.00 350.00
7/10/96 CDW Computer Centers SEAGATE 1.00GB 11ms IDE 149330 201.00 0.00 0.00 201.00
7/31/96 CDW Computer Centers HP LJ 5 12PPm 600PI 149959 1,261.65 22.65 0.00 1,239.00
0/00/00 XXX Xxxxxxxx Xxxxxxx XXXXXXX 00xxx 151068 738.89 54.89 0.00 684.00
10/23/96 CDW Computer Centers NANAO FLEXSCAN 21IN 151864 1,855.26 60.26 0.00 1,795.00
10/24/96 CDW Computer Centers SAMSUNG 17 GLI 17IN 151870 746.92 54.92 0.00 692.00
00/00/00 XXX Xxxxxxxx Xxxxxxx XXXXXXX 00XXX 17IN 151871 1,384.00 0.00 0.00 1,384.00
11/20/96 CDW Computer Centers TOS 200CDS/MHZ 28.8 PCMIA 152535 4,674.67 38.67 0.00 4,636.00
6/24/96 CDW Computer Centers SIMPLE 8MB DEC XXXXXX 148908 157.35 5.35 0.00 152.00
6/19/96 CDW Computer Centers SIMPLE 16MB DEC PC LP 148895 253.43 8.43 0.00 245.00
6/20/96 CDW Computer Centers MHZ 28.8 PCMCIAV.34 FAX 148896 259.83 8.83 0.00 251.00
0/0/00 XXX Xxxxxxxx Xxxxxxx XXXXXXX XXXX XXXXX 000000 299.00 0.00 0.00 299.00
6/11/96 CDW Computer Centers HP LASER 5P 148681 879.00 0.00 0.00 879.00
0/00/00 XXX Xxxxxxxx Xxxxxxx XXXXX XXXXXXX 000000 1,915.87 95.87 0.00 1,820.00
7/11/96 XXX Xxxxxxxx Xxxxxxx 0XX Xxxx 000000 253.24 3.24 0.00 250.00
0/0/00 Xxxxxxxx Xxxx Xxxxx Xxx 000000 1,727.50 10.75 81.75 1,635.00
4/2/96 Computer Town 4 Power macs 146763 4,195.80 0.00 199.80 3,996.00
Page 2
12
EXHIBIT 2
1997 LOAN COLLATERAL
ALKERMES/ACTI/ACTII FIXED ASSET LIST
6/24/96 Computer Town SONY 17"COLOR MONITOR 148818 853.95 15.00 39.95 799.00
6/24/96 Computer Town APPOI HDA 320 MB SCSI 149400 409.50 0.00 19.50 390.00
8/28/96 Xxxxxx Corporation Modification to WFI 151081 3,123.80 0.00 0.00 3,123.80
2/27/97 Data Science Receiver system RPC-1/power supply/
start cable 155210 11,236.01 26.01 0.00 11,210.00
3/18/97 Dell Direct Sales Dell Dimension XPS Pentium Processor 155736 2,795.00 100.00 0.00 2,695.00
10/1/96 Dell Direct Sales DELLPCW/MONITOR,NETWORK 151216 3,330.00 100.00 0.00 3,230.00
11/25/96 Dell Direct Sales Pentium Pro3000mhz 152551 3,689.00 55.00 0.00 3,634.00
3/27/96 Dell Direct Sales Dell dimension Pentium 146818 2,323.65 55.00 110.65 2,158.00
11/26/96 Dell Direct Sales Dimension XPS/Microsoft system/Win95 152664 2,820.30 100.00 134.30 2,586.00
2/23/96 Dictronics Laser facsimile machine 148273 2,792.50 325.00 117.50 2,350.00
1/23/97 Entex HP-HEWLET/3COM/TOSHIBA 154155 11,021.25 186.93 498.78 10,335.54
1/23/97 Entex Proliant 2500, energy unit etc. 154531 14,827.31 208.01 693.30 13,926.00
2/25/97 Entex TT-TEKTRONIX (color printer)/lower
tray assa. for xxxxx XX 000000 9,201.28 166.03 430.25 8,605.00
3/10/97 Entex HP-Hewlett Pack/fast ethlink/ 8x
speed CD-Rom/ 155734 1,803.55 81.05 77.50 1,645.00
12/13/96 Geneva Group SollomIV 152743 45,046.09 0.00 0.00 45,046.09
4/9/96 Infotech Hp laserjet 5SI 147045 4,045.95 15.00 191.95 3,839.00
4/19/96 Infotech Laserjet Iv plus 147209 1,447.00 0.00 0.00 1,447.00
5/22/96 Infotech 16 mb xxxxx 148159 515.15 8.00 24.15 483.00
6/17/96 Infotech HP DESKJET 1600CM 148610 2,135.95 16.00 100.95 2,019.00
6/7/96 Infotech HP LASERJET 148379 4,068.95 38.00 191.95 3,839.00
5/8/96 MacWarehouse Keyboard-compatibility cd 147934 1,232.90 118.90 0.00 1,114.00
5/29/96 MacWarehouse Power Mac w/scan display 148479 7,442.00 0.00 0.00 7,442.00
5/29/96 MacWarehouse Extended Keyboard, etc. 148480 1,654.50 135.00 0.00 1,519.50
5/30/96 MacWarehouse Powermac 148481 1,026.00 27.00 0.00 999.00
5/30/96 MacWarehouse APPLE MULTIPLE SCAN DSPLY 148518 947.39 0.00 49.39 898.00
5/8/96 MacWarehouse POWER MAC & DISPLAY 148403 9,889.00 0.00 0.00 9,889.00
0/0/00 XxxXxxxxxxxx Xxxxxxxx Xxxxxxxx XX 000000 194.00 39.00 0.00 155.00
7/1/96 MacWarehouse Power Mac 7200 149033 4,921.00 0.00 0.00 4,921.00
7/15/96 MacWarehouse Extended Keyboard + modem 149440 865.00 0.00 0.00 865.00
9/23/96 MacWarehouse Mitsubishi MCA640 optical drive 151069 602.00 3.00 0.00 599.00
10/16/96 MacWarehouse POWERPORT/MERCURY FOR POWER BOOK 151570 319.00 0.00 0.00 319.00
1/6/97 MacWarehouse APPLE POWERBOOK/LASERJET 154172 2,744.00 0.00 0.00 2,744.00
2/20/97 MacWarehouse Powermac 7300 155085 8,196.00 0.00 0.00 8,196.00
2/20/97 MacWarehouse Credit ref #155085 155733 -2,299.00 0.00 0.00 -2,299.00
2/12/97 MacWarehouse Fax, ethernet line 154929 1,297.95 8.00 0.00 1,289.95
4/1/96 XxXxxxxx-Xxxx Steel ladder 146721 494.08 42.00 0.00 452.08
9/15/96 Micro Center Academic network center 150623 5,109.31 0.00 243.30 4,866.01
9/10/96 Micro Center QVS cable, scanner keyboard 150542 4,931.51 0.00 234.83 4,696.68
11/22/96 Micro-Med Low pressure analyzer 152441 6,765.00 0.00 0.00 6,765.00
1/7/97 Microtech International MIA1600/168-06PPC 153485 1,015.91 15.91 0.00 1,000.00
4/4/96 Microtech International Mia8000/168-06 PPC 146781 1,808.71 18.71 0.00 1,790.00
0/0/00 Xxxxxxxxx Xxxxxxxxxxxxx 0xx xxxxx 147774 2,794.59 22.59 0.00 2,772.00
5/31/96 Microtech International MIA8000/168-06-PPC 148294 2,405.19 21.19 0.00 2,384.00
9/25/96 Microtech International DIMM 512k cache 151070 1,242.94 17.94 0.00 1,225.00
Page 3
13
EXHIBIT 2
1997 LOAN COLLATERAL
ALKERMES/ACTI/ACTII FIXED ASSET LIST
10/29/96 Microtech International MIA1600/168-06-PPC 151869 1,386.45 17.45 0.00 1,369.00
12/18/96 Nortel Communication Telephones 153230 1,742.10 20.00 82.00 1,640.10
00/0/00 Xxxxxx Xxxxxxxxxxxxx X0000 perf-plus tel basic 153325 608.50 10.00 28.50 570.00
2/21/97 Northern Business Machine Sharp fax machine 155068 5,394.00 0.00 0.00 5,394.00
12/31/96 Osmonics PUMP MOTOR ELECTRIC BOILER 153415 2,070.00 0.00 0.00 2,070.00
9/19/96 PC's Compleat Inc P133,16MBEDO win 95 150846 2,617.90 14.95 123.95 2,479.00
6/20/96 PC's Compleat Inc DIGITAL XXXXXX ULTRA II 148736 3,198.90 49.95 149.95 2,999.00
10/24/96 PC's Compleat Inc P133,16MBEDO/MEMORY/VIDEO 151713 4,223.60 29.90 199.70 3,994.00
12/12/96 PC's Compleat Inc P133A, memory, modem 153096 4,296.85 14.95 203.90 4,078.00
12/16/96 PC's Compleat Inc Replicator, port, w/ethernet 152955 339.90 4.95 15.95 319.00
2/21/97 Orange Micro, Inc. Orange Pc 540 PCI 154887 6,579.10 39.70 311.40 6,228.00
00/00/00 Xxxxx Xxxx Xxxxxxxx 0 XXXX XXXXXXXX & ADAPTERS 154313 3,756.00 0.00 0.00 3,756.00
1/14/97 Xxxxxxxxx LAB STANDARD W/18 DEGREE EARBARS 153889 7,831.80 46.80 0.00 7,785.00
9/10/96 The Xxxx Company slide proj with film 150556 753.00 0.00 0.00 753.00
10/7/96 The Xxxx Company KODAK EKTAGRAPHIC IIIA SLIDE PROJECT 151212 781.50 15.00 36.50 730.00
2/10/97 Xxxxxx Scientific Blender 4L 120V 154461 1,284.76 28.76 0.00 1,256.00
6/12/96 Triumph PCVD1012/PCACCALPRT 148600 1,789.80 6.90 84.90 1,698.00
12/4/96 VWR Corporation Ambi-hi low xxxxxxxx 153086 3,810.00 0.00 0.00 3,810.00
5/10/96 Waters Corporation In-line degasser 4 channel 147809 2,905.00 5.00 0.00 2,900.00
7/29/96 Zsource Ricoh SCSI scanner + drive 149559 4,764.00 18.00 226.00 4,520.00
ALKERMES F&F
FY1997 (APRIL 1996-MARCH 1997)
5/21/96 First Office Concepts Letter Size File Cabinets 148012 2,589.50 80.00 119.50 2,390.00
5/16/96 First Office Concepts Steel Display Cases 148156 2,638.80 39.00 123.80 2,476.00
1/9/97 First Office Concepts Xxxxxx xxxxx 153988 556.18 17.00 25.68 513.50
4/1/96 Xxxx Xxxxxx Shelf & Post 146976 166.95 6.95 21.00 139.00
1/21/97 Xxxx Xxxxxx xxxx/post/caster 154149 2,403.24 199.97 104.92 2,098.35
3/14/97 Nortel Communications X0000XX xxxxxx xxx xxx/X0000
perf-plus tel 155991 4,932.50 50.00 232.50 4,650.00
3/12/97 Nortel Communications M2616 Perf-Plus Tel basic 155990 1,700.00 20.00 80.00 1,600.00
ALKERMES EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
4/3/97 AMC Computer Corp Powermac 156216 2,565.00 0.00 0.00 2,565.00
4/23/97 AMC Computer Corp Powerbook computer 156698 5,759.00 25.00 0.00 5,734.00
4/18/97 AMC Computer Corp HP laserjet 156865 3,895.00 0.00 0.00 3,895.00
4/7/97 AMC Computer Corp Powermac 157210 3,515.00 0.00 0.00 3,515.00
4/25/97 Xxxxxx, Inc. C/press model with c/base press
stand 156728 2,809.94 64.94 0.00 2,745.00
4/10/97 Data Sciences, Inc. Blood pressure monitoring system 156739 17,973.95 13.95 0.00 17,960.00
3/31/97 Dell Direct Sales, L.P. Dell 6200 w/pentium 156086 3,800.00 55.00 0.00 3,745.00
3/28/97 Dell Direct Sales, L.P. Dell 6200 w/pentium 156087 3,800.00 55.00 0.00 3,745.00
4/11/97 Dell Direct Sales, L.P. Dell poweredge 2100 pentium pro base 156403 3,389.00 100.00 0.00 3,289.00
4/8/97 Entex Toshiba 156359 2,888.27 37.52 135.75 2,715.00
4/2/97 Entex HP computer 156361 2,529.15 122.05 110.10 2,297.00
3/31/97 Xxxxxx Scientific Freezer storage flame material 156080 2,792.00 0.00 0.00 2,792.00
5/5/97 Genevea Group GB ultra wide swapable drive, PCI
controller 156609 5,761.47 25.00 273.17 5,463.30
Page 4
14
EXHIBIT 2
1997 LOAN COLLATERAL
ALKERMES/ACTI/ACTII FIXED ASSET LIST
4/28/97 Harvard Apparatus Multi-syr pump 22 156720 4,204.38 14.38 0.00 4,190.00
4/23/97 Kinematic AG Dispersing and homogenizing unit 156262 5,941.65 0.00 0.00 5,941.65
3/31/97 La Calhene Replacement canopy for two half
suit isolator 156040 7,994.15 59.15 0.00 7,935.00
4/24/97 XxXxxxxx-Xxxx Stainless steel scullery sink 156881 2,381.15 40.00 0.00 2,341.15
4/21/97 Micro Motion Sensor and transmitter 156401 6,835.20 20.00 0.00 6,815.20
4/10/97 Microtech International Memory for computers 156800 3,705.36 25.36 0.00 3,680.00
4/7/97 Xxxxxx Systems 500 MB internal 3.5 harddrives 156471 4,650.00 70.00 0.00 4,580.00
4/7/97 Sonics & Materials, Inc. 100 watt system 156461 2,232.19 12.19 0.00 2,220.00
4/28/97 VWR Corporation Balances 157269 6,181.45 0.00 0.00 6,181.45
4/16/97 Waters Corporation In-line degasser 4-channel 156426 3,005.00 5.00 0.00 3,000.00
------------------------------------------------
TOTAL ALKERMES 720,029.00 5,712.95 7,991.46 706,324.59
------------------------------------------------
ACTI EQUIPMENT
FY1996 (APRIL 1995-MARCH 1996)
2/13/96 Accutemp Engineering Watlow microprocessor, et 5250 2,722.15 45.68 0.00 2,676.47
1/30/96 Alloy Products Corp. 7 Gal Tank w/misc parts 5189 3,670.40 16.40 0.00 3,654.00
2/13/96 Alloy Products Corp. 14 gal vessel 5254 3,754.27 54.27 0.00 3,700.00
2/16/96 Amsco Sales (NY) Valve-part of Cooler 5244 323.48 3.62 0.00 319.86
1/8/96 AMSCO-PA H202 case 5078 788.00 0.00 0.00 788.00
1/8/96 Avestin, Inc. High pressure homo. mach 5051 13,030.00 160.00 0.00 12,870.00
3/18/96 Xxxxxxxx Corp. Palltronic filter tester 5454 15,750.00 0.00 0.00 15,750.00
2/15/96 Xxxxxxxx Corporation Water/moisture trap 5255 160.52 10.52 0.00 150.00
2/16/96 Xxxx-Xxxxxx Humidity data processor 5245 976.70 6.70 0.00 970.00
3/7/97 Xxxx-Xxxxxx Humidity data processor 5365 2,024.15 29.15 0.00 1,995.00
1/15/96 Xxxxxx Corporation WFI tank upgrade project 5042 12,849.72 0.00 0.00 12,849.72
2/9/96 Xxxxxx Corporation Add ferrule 40l vessel 5220 2,848.00 0.00 0.00 2,848.00
2/27/96 Harvard Apparatus Multi syringe pump 5310 2,631.37 6.37 0.00 2,625.00
3/6/96 IKA Works, Inc. Homogenizer motor 5368 2,399.58 11.58 0.00 2,388.00
3/1/96 ITT Sherotec Valves for tanks 5333 9,131.43 14.83 0.00 9,116.60
January La Calhene Platine for clean room 144898 33,447.00 0.00 0.00 33,447.00
4/11/96 La Calhene Isolator walls 5639 22,824.30 0.00 0.00 22,824.30
3/27/96 MKS Instruments Barratron pressure transducer 5500 4,931.48 11.48 0.00 4,920.00
2/29/96 Osmonics Steam generator 5621 60,278.50 0.00 0.00 60,278.50
1/1/96 Pacific Venture Lease 8142N 4984 2,897.00 0.00 0.00 2,897.00
2/8/96 Process Instrumentation Temp callibrator w/access 5356 3,555.00 5.00 0.00 3,550.00
2/22/96 Sonics & Materials Ultrasonic Processor etc. 5302 7,343.45 28.45 0.00 7,315.00
1/17/96 Superior Controls Prolease 50 data acq.system 5084 7,827.00 0.00 0.00 7,827.00
2/9/96 Superior Controls Prolease 50 data acq.system 5266 7,969.60 0.00 0.00 7,969.60
3/6/96 Superior Controls Prolease 50 data acq.system 5376 5,218.00 0.00 0.00 5,218.00
3/25/96 Superior Controls Prolease 50 data acq.system 5517 1,500.00 0.00 0.00 1,500.00
3/25/96 Superior Controls Prolease 50 data acq.system 5518 7,969.60 0.00 0.00 7,969.60
1/18/96 Telsonic, USA Ultrasonic generator, etc. 5089 2,910.00 35.00 0.00 2,875.00
Page 5
15
EXHIBIT 2
1997 LOAN COLLATERAL
ALKERMES/ACTI/ACTII FIXED ASSET LIST
ACTI F&F
FY1996 (APRIL 1995-MARCH 1996)
1/22/96 Xxxx Xxxxxx Table 670 908.24 76.64 39.60 792.00
2/23/96 Xxxx Xxxxxx Shelf & Post 5311 166.26 19.00 7.01 140.25
2/27/96 Xxxx Xxxxxx Shelf & Post 5324 166.00 19.00 7.00 140.00
3/7/96 Xxxx Xxxxxx Standard Utility Cart 5381 465.58 22.48 21.10 422.00
2/27/96 Terra Universal, Inc. Blue Upholstered Chair 5340 1,677.00 67.00 0.00 1,610.00
ACTI EQUIPMENT
FY1997 (APRIL 1996-MARCH 1997)
1/8/97 Alleghency Bradford Corp Heat exchanger 8231 10,427.00 0.00 0.00 10,427.00
2/5/97 Alloy Products Corp Vessel 14 Gal ASME T-316 8560 8,865.72 85.72 0.00 8,780.00
4/9/96 Alloy Products Corp 14 gal vessel 5630 7,784.27 54.27 0.00 7,730.00
7/11/96 Amsco Sales Corp 1 316l SS TC PRESSURE REG 6318 1,966.59 10.03 0.00 1,956.56
3/31/96 Anatel Corporation Analyzer 5569 16,998.62 3.62 0.00 16,995.00
2/11/97 Apache Stainless Equipment 37.4 18" Vessel 8591 4,390.00 0.00 0.00 4,390.00
1/13/97 Avestin, Inc. EmulsiFlex-C50 high pressure 8315 23,040.00 290.00 0.00 22,750.00
4/4/96 Avestin, Inc. Homogenizer/Transducer 5597 25,980.00 320.00 0.00 25,660.00
6/25/96 Beta-Star Corp MODEL #400 CONTROL 6429 13,075.00 0.00 0.00 13,075.00
6/25/96 Beta-Star Corp ADDITIONAL PARTS MODEL #400 6428 6,326.44 0.00 0.00 6,326.44
5/16/96 Bio-Rad Digilab Div. Automatic temp controller 5827 4,870.00 0.00 0.00 4,870.00
6/13/96 Boston Ship Service 1810 Fridge 5980 525.00 0.00 0.00 525.00
1/10/97 Chemineer Inc CAT-10 static mixer 8321 3,978.18 18.18 0.00 3,960.00
6/11/96 Xxxx-Xxxxxx Instrument PUMP MFLEX V-FLO 6050 2,650.00 0.00 0.00 2,650.00
7/25/96 Xxxx-Xxxxxx Instrument VAC PUMP 6524 2,777.60 227.60 0.00 2,550.00
2/28/97 Xxxxxx Corporation Modify Glove Box Isolator small 8787 1,475.00 0.00 0.00 1,475.00
3/20/96 Xxxxxx Corporation Pressure control valve 5659 2,819.00 0.00 0.00 2,819.00
10/16/96 Xxxxxx Corporation Modification to SS Isolator unit 7602 5,900.00 0.00 0.00 5,900.00
11/14/96 Xxxxxx Corporation FAB. SC Middle per 10/23/96 skecth 7830 1,395.00 0.00 0.00 1,395.00
1/23/97 Xxxxxx Corporation FAB. bottom collection tank 8402 4,650.00 0.00 0.00 4,650.00
1/23/97 Xxxxxx Corporation 10".4" can red top insulated 8401 5,750.00 0.00 0.00 5,750.00
3/21/97 Xxxxxx Corporation Modify glove box isolator small 9148 2,175.00 0.00 0.00 2,175.00
0/0/00 Xxxxxxx Xxxx Xxxxxx X Xxxx X0X00 0000 2,815.59 200.59 0.00 2,615.00
6/19/96 Xxxxxxx High Vacuum VACUUM PUMP W/RUBBER 6110 3,030.79 50.79 0.00 2,980.00
3/24/97 Exeter Analytical, Inc. CE440 element analyzer & start up kit 8954 30,450.00 125.00 0.00 30,325.00
9/23/96 Xxxxxx Scientific Incubator MDL 815 220VAC 50HZ 7163 2,295.00 0.00 0.00 2,295.00
9/27/96 Xxxxxx Scientific Digital Chart Recorder 115V 7398 2,235.00 0.00 0.00 2,235.00
10/8/96 Xxxxxx Scientific Incubator MDL 815 220VAC 7407 4,590.00 0.00 0.00 4,590.00
11/20/96 Xxxxxx Scientific Blood bk ref 12cu ft 115v 7851 2,815.00 0.00 0.00 2,815.00
11/4/96 FTS Systems, Inc pump circulating 7805 1,508.45 0.00 0.00 1,508.45
7/26/96 FTS Systems, Inc RC211,208V AIR COOLED 6526 13,200.00 0.00 0.00 13,200.00
4/8/96 FTS Systems, Inc Secondary Key temp 5615 13,685.00 0.00 0.00 13,685.00
6/18/96 Xxxx Xxxxx Inc TURBULA SHAKER 6108 7,400.00 0.00 0.00 7,400.00
10/31/96 Xxxx Xxxxx Inc Turbula Shaker-Mixer Model T2C 7582 7,600.00 0.00 0.00 7,600.00
9/18/96 Harvard Apparturs Inc Pump 22 Multi-SYR 6953 2,002.06 7.06 0.00 1,995.00
Page 6
16
EXHIBIT 2
1997 LOAN COLLATERAL
ALKERMES/ACTI/ACTII FIXED ASSET LIST
7/11/96 Hewlett Packard Flouresence detector & kits +
installation 7210 12,624.00 0.00 0.00 12,624.00
12/13/96 IKA-Works, Inc. Dispersing Tool 8162 1,679.35 8.35 0.00 1,671.00
3/4/96 IKA-Works, Inc. Homogenizer 5553 3,355.76 13.76 0.00 3,342.00
4/9/96 Infotech HP laserjet 51 5603 964.45 52.00 43.45 869.00
4/9/96 Infotech HP laserjet 5L 5619 1,846.90 22.00 86.90 1,738.00
5/24/96 ITT Sherotec SC Chamber 5926 5,675.98 35.98 0.00 5,640.00
6/13/96 ITT Sherotec FD TOP-DRAWING 320EP 6082 26,053.45 55.45 0.00 25,998.00
6/17/96 ITT Sherotec DISPENSER TANK 2PCX 6109 9,302.05 73.25 0.00 9,228.80
6/18/96 ITT Sherotec DISPENSER TANK 2PCS 6129 18,570.60 113.00 0.00 18,457.60
5/24/96 ITT Sherotec TANK BOTTOM VALVE ADDITION 5942 22,359.02 24.02 0.00 22,335.00
10/11/96 Jouan Inc Bench top centerfuge & accessories 7377 6,686.36 86.36 0.00 6,600.00
5/17/96 La Calhene Alum autoclavable container 5794 8,992.00 0.00 0.00 8,992.00
5/21/96 La Calhene Containment isolator 5910 11,761.80 0.00 0.00 11,761.80
6/19/96 La Calhene ALUM. AUTOCLAV CONTAINER 6133 15,144.00 0.00 0.00 15,144.00
5/14/96 La Calhene Contamination isolatorw/four gloves 151251 23,523.60 0.00 0.00 23,523.60
10/17/96 La Calhene Replacement canopy 7401 15,667.00 0.00 0.00 15,667.00
10/17/96 La Calhene Replacement canopy 7402 15,667.00 0.00 0.00 15,667.00
11/25/96 La Calhene Glove leak tester 7914 15,000.00 0.00 0.00 15,000.00
3/18/97 La Calhene Replacement canopy work station 8965 4,452.00 0.00 0.00 4,452.00
3/11/97 La Calhene Rigid wall turbulent flow &
accessories 9192 3,920.60 0.00 0.00 3,920.60
1/31/97 La Calhene Half suite, diameter, PVC, sleeve 8566 8,217.50 81.50 0.00 8,136.00
4/22/96 Lightnin Mixer w/various parts 5714 19,509.26 77.28 0.00 19,431.98
10/30/96 Lightnin Baldor Fear motor/ control 7600 707.75 34.75 0.00 673.00
11/25/96 XxXxxxxx-Xxxx voltagespike,surge and recorder 7866 1,106.94 3.28 0.00 1,103.66
1/8/97 Micro Diagnostics Stainless steel rotameter 8392 3,808.73 0.00 0.00 3,808.73
6/3/96 Millipore Corporation INTEGRAL 316 ISOLATOR 5939 7,000.00 0.00 0.00 7,000.00
6/25/96 Millipore Corporation Milliflex sensor II 115V 7261 3,005.00 5.00 0.00 3,000.00
2/26/97 Millipore Corporation Milliflex sensor II 115V 8810 3,000.00 0.00 0.00 3,000.00
7/11/96 Millipore Corporation Milliflex sensor II 115V 6324 3,000.00 0.00 0.00 3,000.00
9/4/96 MKS Instruments Baratron absolute pressure
transducer 6984 1,680.90 10.90 0.00 1,670.00
10/19/96 MKS Instruments 628A11TAE/A070-92 7397 1,681.03 11.03 0.00 1,670.00
9/12/96 National Instrument Labview dev. for Macintosh 7049 3,316.75 26.75 0.00 3,290.00
2/24/97 Nettco Corporation Nettco model 18P, motor, ac drive,
stirre 8832 25,883.00 113.00 0.00 25,770.00
5/2/96 Nettco Corporation 1BP mixer 5725 33,855.48 189.48 0.00 33,666.00
8/6/96 Novex Power ease 500 Pre-Ca 6683 1,531.00 46.00 0.00 1,485.00
3/31/97 Osmonics, Inc. Generator 10% due from 2/29/96 9204 4,139.00 0.00 0.00 4,139.00
11/21/96 XXX Process Equipment etra ac drive nema 4 7754 1,533.00 73.00 0.00 1,460.00
9/6/96 Pall Filtron Corporation 5k omega centrasette 7021 10,726.33 4.33 0.00 10,722.00
9/12/96 Pall Filtron Corporation Sanitart centrasette +mutiples 6905 55,250.00 0.00 0.00 55,250.00
9/18/96 Pall Filtron Corporation Integrity analyzer 7408 5,400.00 0.00 0.00 5,400.00
10/2/96 Pall Filtron Corporation 5K omega centresette 25SQ T-screen 7258 5,364.63 3.63 0.00 5,361.00
3/14/97 Pall Filtron Corporation Maximate ext SS cassette holder/ open
channel 4ft 8995 13,991.26 141.26 0.00 13,850.00
12/4/96 Pharmacia Biotech Superdex 75 7964 5,896.00 56.00 0.00 5,840.00
8/22/96 Phenomenex CH-mult. column heater 6770 1,480.00 0.00 0.00 1,480.00
Page 7
17
EXHIBIT 2
1997 LOAN COLLATERAL
ALKERMES/ACTI/ACTII FIXED ASSET LIST
11/22/96 Precision Stainless, Inc. 50 liter portable mix tanks 8036 2,817.00 0.00 0.00 2,817.00
2/28/97 Precision Stainless, Inc. 100 liter portable mix tank &
accessories 9191 17,459.00 0.00 0.00 17,459.00
1/24/97 Sigmil Ltd Xxxxxxxx housing w/steam jacket 8417 2,311.90 29.90 0.00 2,282.00
6/21/96 Sonics & Materials, Inc 50W ultrasonic atomizer 6151 2,038.61 8.61 0.00 2,030.00
2/17/97 Sonics & Materials, Inc 40 KHZ atomizer & horn 8700 2,883.28 13.28 0.00 2,870.00
10/22/96 Sonics & Materials, Inc Ultrasonic processor/atomizing 7561 3,784.20 14.20 0.00 3,770.00
8/14/96 Spex CertiPrep Freezer mill/microvial set 6699 3,530.94 5.94 0.00 3,525.00
10/29/96 Steri Technologies Bottom valves 7756 12,737.68 53.68 0.00 12,684.00
11/26/96 Summit Machine Builders 4107 console & start up system 8269 2,110.90 0.00 0.00 2,110.90
2/12/97 Summit Machine Builders Precision netweight filler 8728 5,059.00 0.00 0.00 5,059.00
2/28/97 Summit Machine Builders 4107 console/power cord/
electricswitch etc 9138 5,059.00 0.00 0.00 5,059.00
9/11/96 Superior Controls, Inc Prolease 500 data acquisition system 150707 6,340.00 0.00 0.00 6,340.00
6/18/96 Superior Controls, Inc Prolease 500 data acquisition system 6215 2,720.00 0.00 0.00 2,720.00
6/18/96 Superior Controls, Inc Prolease 500 data acquisition system 6216 3,470.00 0.00 0.00 3,470.00
2/11/97 Superior Controls, Inc Prolease 500 data acquisition system 8762 13,812.00 0.00 0.00 13,812.00
4/15/96 Superior Controls, Inc. Prolease 500 data acquisition system 5622 1,080.00 0.00 0.00 1,080.00
4/15/96 Superior Controls, Inc. Prolease 500 data acquisition system 5623 2,609.00 0.00 0.00 2,609.00
4/15/96 Superior Controls, Inc. Prolease 500 data acquisition system 5772 3,984.80 0.00 0.00 3,984.80
3/13/97 Superior Controls, Inc. Prolease 500 data acquisition system 9037 670.00 0.00 0.00 670.00
3/19/97 Superior Controls, Inc. Prolease 500 data acquisition system 9188 6,906.00 0.00 0.00 6,906.00
3/13/97 Superior Controls, Inc. Prolease 500 data acquisition system 9190 10,359.00 0.00 0.00 10,359.00
9/30/96 Vorti-Siv Division Vorti-Sivmodel /Dome cover w/ lock
band/FDA white rubber feet 7475 4,085.00 250.00 0.00 3,835.00
9/30/96 Vorti-Siv Division Vorti-Sivmodel RBF-10/
screens.shallow funnel 7485 3,825.00 0.00 0.00 3,825.00
8/28/96 Vorti-SixDivision 140 mexh s.s. screns + multiples 6889 1,371.98 10.98 0.00 1,361.00
4/29/96 VWR Scientific Freezer chest 5716 6,930.84 0.00 0.00 6,930.84
5/20/96 VWR Scientific Ambi-hi-low chamber 5841 1,905.00 0.00 0.00 1,905.00
11/25/96 VWR Scientific Vessel, bioprcess w/ DRN/
mixer/ shaft 7872 11,261.46 0.00 0.00 11,261.46
11/8/96 VWR Scientific Bioprocess vessel 7675 2,060.42 0.00 0.00 2,060.42
11/14/96 VWR Scientific Lab-line-HI-LO incubator 7834 1,905.00 0.00 0.00 1,905.00
1/14/97 VWR Scientific Bal semi-mcro balance 8336 2,996.25 0.00 0.00 2,996.25
2/11/97 VWR Scientific Bath large MOD 270 8663 1,773.08 0.00 0.00 1,773.08
10/28/96 Xxxxxxxx-Xxxxxxxx Corp. Butterfly valve & accessories 7503 1,375.24 24.94 0.00 1,350.30
7/24/96 Waters Corporation 486 TUNABLE UV/VIS 6527 7,287.17 7.17 0.00 7,280.00
8/12/96 Waters Corporation 2690 W/Vac degaas/heat cooler 6626 26,875.00 30.00 0.00 26,845.00
8/19/96 Waters Corporation 410 differential refractomer 6717 8,283.75 83.75 0.00 8,200.00
11/21/96 Waters Corporation 2020 Alpha/open VMS 7887 46,211.32 11.32 0.00 46,200.00
2/26/97 Waters Corporation W/Vac degas, tunable, scan,
fluorometter etc. 8836 120,380.20 84.70 0.00 120,295.50
3/19/97 Waters Corporation 2 custom 2020 Alpha server hardware 9091 60,185.99 185.99 0.00 60,000.00
ACTI F&F
FY1997 (APRIL 1996-MARCH 1997)
4/17/97 Xxxx Xxxxxx Wire carts 5638 895.98 39.49 40.79 815.70
5/1/96 Xxxx Xxxxxx Shelves 5739 1,594.26 71.86 72.50 1,449.90
9/27/96 Xxxx Xxxxxx Shelves 7360 3,088.64 146.91 140.08 2,801.65
11/27/96 Xxxx Xxxxxx Shelves 7877 1,016.41 76.76 44.75 894.90
Page 8
18
EXHIBIT 2
1997 LOAN COLLATERAL
ALKERMES/ACTI/ACTII FIXED ASSET LIST
12/17/96 Xxxx Xxxxxx Shelves 8135 1,556.96 75.78 70.53 1,410.65
1/7/97 Xxxx Xxxxxx Shelves 8393 1,806.70 193.06 76.84 1,536.80
1/31/97 Xxxx Xxxxxx Shelves 8502 2,334.13 219.43 100.70 2,014.00
------------------------------------------------
TOTAL ACTI 1,373,636.66 5,035.14 751.25 1,367,850.27
------------------------------------------------
ACTII EQUIPMENT
FY1997 (APRIL 1996-MARCH 1997)
9/25/96 Alloy Products Corp Vessel 4 liter ASME electro polish 2278 4,264.22 10.22 0.00 4,254.00
9/19/96 Alloy Products Corp Vessel 19 liter ASME electro polish 2277 1,434.43 5.43 0.00 1,429.00
2/14/97 AMC Computers HPCD422 multiples 4208 3,185.00 20.00 0.00 3,165.00
10/1/96 Applied Reactor 1-gallon reactor 2728 18,100.00 0.00 0.00 18,100.00
2/7/97 Applied Reactor Speciality polymer reactor 4238 18,245.00 145.00 0.00 18,100.00
2/26/97 Biotest Diagnostics Air sampler RCS plus/battery
recharger 4398 3,584.68 33.68 201.00 3,350.00
2/11/97 Xxxxxxx Scale Scientific scale 4314 4,983.87 15.87 0.00 4,968.00
11/25/96 Xxxxxxx Optical bench 3100 49,160.00 160.00 0.00 49,000.00
12/10/96 Xxxxxxx Credit, apply to ref #3100 3441 -6,907.17 -407.17 0.00 -6,500.00
8/14/96 Data Comm Warehouse Micro transceiver w/RJ45 1905 2,230.84 4.95 125.99 2,099.90
2/21/97 DCI, Inc. Round vertical insulated tanks 4277 47,779.50 0.00 0.00 47,779.50
3/12/97 DCI, Inc. Round vertical insulated tanks 4731 11,133.00 0.00 0.00 11,133.00
11/9/96 Engineering Excellence Part F.S>G. crtl 4266 1,723.63 0.00 0.00 1,723.63
4/8/96 Exergy Heat exchanger 207 961.30 11.30 0.00 950.00
12/4/96 Xxxxxx Scientific Viscosity bath 120V 3194 3,518.00 0.00 0.00 3,518.00
5/14/97 Fluke Data logger, etc. 512 3,403.17 11.34 176.83 3,215.00
6/5/96 Hewlett Packard AUTOSAMPLER/SIPPER 832 6,335.00 0.00 0.00 6,335.00
6/18/96 Infotech HP laserjet 1174 4,048.95 18.00 191.95 3,839.00
11/7/96 Infotech 2900 2,039.70 9.00 96.70 1,934.00
11/22/96 Infotech CMPQ 2.1GB F/W hot swap/COMPAQ 64MB 3161 2,053.70 23.00 96.70 1,934.00
12/12/96 Infotech KNGSTN 64 MB UPG 3472 721.95 9.00 33.95 679.00
10/23/96 Xxx Instrument Honeywell pressure transmitter 2802 1,245.00 0.00 0.00 1,245.00
6/12/96 Xxxx Engineering Equipment static mixer 942 1,006.70 6.70 0.00 1,000.00
6/4/96 Lightnin Mixer final asy ts w/o comp
intfc 110V 831 1,195.80 4.80 0.00 1,191.00
2/5/97 List Inc Engineering design of list DTB unit 4312 20,000.00 0.00 0.00 20,000.00
3/29/96 MacWarehouse Apple computer/keyboard 217 3,127.06 76.00 159.06 2,892.00
4/9/96 MacWarehouse Apple laserwriter printer 492 4,602.89 0.00 252.89 4,350.00
5/8/96 MacWarehouse Extended keyboard 673 1,606.44 148.94 82.50 1,375.00
5/8/96 MacWarehouse Apple laserwriter printer,
multi-scan display 824 8,951.70 0.00 506.70 8,445.00
5/30/96 MacWarehouse Applevision 1710 & display 857 3,893.38 0.00 220.38 3,673.00
5/30/96 MacWarehouse KEYBOARD & TRANSCE 854 1,194.80 103.00 61.80 1,030.00
6/4/96 MacWarehouse INTERNET ROUTER 898 1,407.50 3.00 79.50 1,325.00
5/30/96 MacWarehouse Modem, keyboard 879 820.00 0.00 0.00 820.00
7/29/96 MacWarehouse IOMEGA 1GB JAZ DRIVE 3.5" 1546 475.00 0.00 0.00 475.00
7/16/96 MacWarehouse Power MAC 7200/75, multi-scan 15SF 1431 3,422.00 0.00 0.00 3,422.00
7/5/96 MacWarehouse Multiscan 15SF II 1357 1,586.82 0.00 89.82 1,497.00
7/1/96 MacWarehouse Extended keyboard II 1265 369.58 40.98 18.60 310.00
Page 9
19
EXHIBIT 2
1997 LOAN COLLATERAL
ALKERMES/ACTI/ACTII FIXED ASSET LIST
2/27/97 MacWarehouse PowerMac 7300/200 4518 5,398.00 0.00 0.00 5,398.00
2/12/97 MacWarehouse On line fax/1 line exthernet 4564 1,253.50 8.00 70.50 1,175.00
2/20/97 MacWarehouse Powerbook 3400c/200 16MB 4565 10,550.00 0.00 0.00 10,550.00
6/17/96 XxXxxxxxx Equipment WIRE MESH PARTITION 951 3,473.00 90.00 0.00 3,383.00
2/11/97 Met One Model A2408 2 channel 4311 5,773.12 23.12 0.00 5,750.00
3/4/97 MicroWarehouse MSFT Project F/Win95/JMP Statistical 4617 1,091.10 11.20 0.00 1,079.90
9/16/96 New Brunswick science Utility tray,repair INNOVA 400 2245 4,812.02 112.02 0.00 4,700.00
1/16/97 Sharp Electronics Copier 3921 1,154.34 0.00 65.34 1,089.00
1/16/97 Sharp Electronics Copier 3922 2,452.84 0.00 138.84 2,314.00
1/16/97 Sharp Electronics Copier 3923 3,888.08 0.00 220.08 3,668.00
1/16/97 Sharp Electronics Duplexer 3924 590.42 0.00 33.42 557.00
2/28/97 Sharp Electronics Laser fax 4525 2,912.54 225.00 190.54 2,497.00
2/28/97 Sharp Electronics Laser fax 4526 2,912.54 225.00 190.54 2,497.00
6/11/96 South Hills Datacomm Network access point w/antenna 1025 2,800.35 0.00 133.35 2,667.00
9/6/96 TA Instruments, Inc. Module 2010/thermal analyst/monitor 2928 20,005.37 55.37 0.00 19,950.00
3/27/97 TA Instruments, Inc. Refrigerated cooling system 4631 8,187.30 62.30 0.00 8,125.00
5/9/96 VWR Scientific Orbital shaker 885 1,207.50 0.00 0.00 1,207.50
10/30/96 VWR Scientific Centifuge centra-GP8 2856 3,611.40 0.00 0.00 3,611.40
10/8/96 VWR Scientific Orbit environ shaker 2971 3,263.19 0.00 0.00 3,263.19
11/14/96 VWR Scientific Rotor horizontal 3021 2,628.60 0.00 0.00 2,628.60
2/24/97 VWR Scientific Orbital shaker open air 4210 1,417.07 0.00 0.00 1,417.07
10/16/96 VWR Scientific Turbidimeter DRT-100B 2674 1,307.90 0.00 0.00 1,307.90
12/11/96 VWR Scientific Buchi rotap 3317 3,513.75 0.00 0.00 3,513.75
9/5/96 VWR Scientific Pump syringe sage mod m362 2063 1,743.30 0.00 0.00 1,743.30
2/4/97 Waters Corporation 410 differential refractomer 4300 8,212.28 12.28 0.00 8,200.00
12/31/96 Waters Corporation 410 differential refractomer 4512 8,269.40 12.00 467.40 7,790.00
ACTII F&F
FY1997 (APRIL 1996-MARCH 1997)
11/15/96 First Office Concepts, Inc High back task seating 1844 3,215.00 25.00 0.00 3,190.00
8/13/96 First Office Concepts, Inc Guest chairs 1845 4,705.00 50.00 0.00 4,655.00
10/22/96 First Office Concepts, Inc Corner end table-freestanding 2659 308.45 39.00 0.00 269.45
8/12/96 First Office Concepts, Inc 4 xxxxx vertical filing 2546 330.00 50.00 0.00 280.00
10/1/96 First Office Concepts, Inc High back task seating 2432 4,689.25 40.00 0.00 4,649.25
8/13/96 First Office Concepts, Inc Lateral file cabinet w/locks 2968 1,500.50 65.50 0.00 1,435.00
2/6/97 Nortel Communications Telephone system installation 3844 16,197.00 0.00 0.00 16,197.00
3/21/97 Nortel Communications Telephone system installation 4847 6,479.00 0.00 0.00 6,479.00
3/21/97 Nortel Communications Telephone system installation Accrued 42,113.00 0.00 0.00 42,113.00
9/9/96 Superior Carpet Carpet installation 2224 3,387.65 0.00 191.75 3,195.90
------------------------------------------------
TOTAL ACTII 432,257.20 1,558.83 4,096.13 426,602.24
------------------------------------------------
------------------------------------------------
GRAND TOTAL ALKERMES, ACTI AND ACTII 2,525,922.86 12,306.92 12,838.84 2,500,777.10
================================================
Page 10
20
SUPPLEMENTAL DISCLOSURE SCHEDULE
[To be provided by Borrowers.]
21
Item 2.1(m)
-----------
Material Contracts and Long-Term Commitments
1. Form of 0000 Xxxxxxx to purchase 2,800 shares of Alkermes, Inc.'s Common
Stock.
2. Form of 0000 Xxxxxxx to purchase 300 shares of Alkermes, Inc.'s Common
Stock.
3. Form of Global Warrant Certificate for 1994 Class A Warrants to purchase
1,700 shares of Alkermes, Inc.'s Common Stock.
4. Form of Class B 0000 Xxxxxxx to purchase 3,400 shares of Alkermes, Inc.'s
Common Stock.
5. Form of Fund Warrant to purchase 7,293 shares of Alkermes, Inc.'s Common
Stock.
6. Form of Incentive Warrant to purchase 42,280 shares of Alkermes, Inc.'s
Common Stock.
7. Warrant Agreement, dated as of November 18, 1994, by and between Alkermes,
Inc. and The First National Bank of Boston.
8. Amended and Restated 1989 Non-Qualified Stock Option Plan, as amended.
9. Amended and Restated 1990 Omnibus Stock Option Plan, as amended.
10. 1991 Restricted Common Stock Award Plan.
11. 1992 Non-Qualified Stock Option Plan.
12. Stock Option Plan for Non-Employee Directors.
13. Lease, dated as of September 18, 1991, between Forest City 00 Xxxxxx
Xxxxxx, Inc. and Alkermes, Inc., as amended by a First Amendment of Lease
dated September 1, 1992.
14. Lease, dated as of March 16, 1990, between Forest City 00 Xxxxxx Xxxxxx,
Inc. and Enzytech, Inc.
22
15. Product Development Agreement, dated as of March 6, 1992, between Alkermes
Clinical Partners, L.P. and Alkermes, Inc.
16. Purchase Agreement, dated as of March 6, 1992, by and among Alkermes, Inc.
and each of the Limited Partners, from time to time, of Alkermes Clinical
Partners, L.P.
17. Alkermes Clinical Partners, L.P. Agreement of Limited Partnership, dated as
of February 7, 1992, as amended by Amendment No. 1 to Agreement of Limited
Partnership, dated as of September 29, 1992, as further amended by
Amendment No. 2 to Agreement of Limited Partnership, dated as of March 30,
1993.
18. Class A Note of Alkermes Development Corporation II, dated April 10, 1992,
to PaineWebber Development Corporation in the amount of $100.00.
19. License Agreement, dated February 5, 1990, between Enzytech, Inc. and
Massachusetts Institute of Technology.
20. Development and License Agreement dated February 4, 1992, between Enzytech,
Inc. and Schering Corporation, as amended by an Amendment to Development
and License Agreement dated July 26, 1995 between Alkermes Controlled
Therapeutics, Inc. and Schering Corporation.
21. Prepaid Royalty Agreement dated July 26, 1995 between Alkermes Controlled
Therapeutics, Inc. and Schering Corporation.
22. Collaborative Development Agreement dated as of January 9, 1995 between
Alkermes Controlled Therapeutics, Inc. and Genentech, Inc.
23. Note Purchase Agreement, dated as of January 9, 1995, by and between
Alkermes, Inc. and Genentech, Inc.
24. License Agreement, dated as of November 13, 1996 by and between Genentech,
Inc. and Alkermes Controlled Therapeutics, Inc.
25. Convertible Promissory Note of Alkermes, Inc. dated January 31, 1995.
26. Development Agreement, dated as of December 23, 1993, between Medisorb
Technologies International L.P. and Xxxxxxx Pharmaceutica International, as
amended by the First Amendment to Development Agreement, dated as of
December 23, 1993.
23
27. License Agreement, dated as of February 13, 1996, between Medisorb
Technologies International L.P. and Xxxxxxx Pharmaceutica International
(United States).
28. License Agreement, dated as of February 21, 1996, between Medisorb
Technologies International L.P. and Xxxxxxx Pharmaceutica International
(worldwide except United States).
29. Development Agreement, dated as of August 1, 1996, by and between The X.X.
Xxxxxxx Pharmaceutical Research Institute, Alkermes, Inc. and Alkermes
Controlled Therapeutics, Inc.
30. Supply and License Agreement, dated as of August 1, 1996, by and between
The X.X. Xxxxxxx Pharmaceutical Research Institute, Alkermes, Inc. and
Alkermes Controlled Therapeutics.
31. Letter Agreement, dated September 27, 1996, between Fleet National Bank and
Alkermes, Inc.
32. Promissory Note of Alkermes, Inc., dated December 23, 1994, to Fleet Bank
of Massachusetts, N.A., as amended by Allonge to Promissory Note, dated as
of September 27, 1996, executed by Fleet National Bank, Alkermes Controlled
Therapeutics, Inc. and Alkermes.
33. Promissory Note of Alkermes, Inc., dated December 19, 1995, to Fleet Bank
of Massachusetts, N.A., as amended by Allonge to Promissory Note, dated as
of September 27, 1996, executed by Fleet National Bank, Alkermes Controlled
Therapeutics, Inc. and Alkermes.
34. Loan Agreement dated December 30, 1993, among The Daiwa Bank, Limited,
Alkermes Investments, Inc. and Alkermes, Inc., as amended by Amendment No.
1 to Loan Agreement, dated as of December 31, 1994, and as further amended
by Amendment to Loan Agreement, dated as of December 29, 1995, and as
further amended by Omnibus Amendment to Loan Documents, dated as of July
26, 1996, among The Sumitomo Bank, Limited (as assignee of The Daiwa Bank,
Limited), Alkermes, Inc. and Alkermes Investments, Inc.
35. Second Amended and Restated Note, dated July 26, 1996, by Alkermes, Inc.
and Alkermes Investments, Inc. to The Sumitomo Bank, Limited.
36. Employment Agreement, entered into as of February 7, 1991, between Xxxxxxx
X. Pops and Alkermes, Inc.
24
37. Employment Agreement, entered into as of June 13, 1994, by and between
Xxxxxx X. Xxxxxx and Alkermes, Inc.
25
Item 4.2
--------
Existing Liens
Liens with respect to the Collateral, (as such term is defined in the Security
Agreement, dated as of September 27, 1996, by and among Alkermes, Inc., Alkermes
Controlled Therapeutics, Inc., Alkermes Controlled Therapeutics Inc. II and the
Bank), granted by Alkermes, Inc., Alkermes Controlled Therapeutics, Inc. and
Alkermes Controlled Therapeutics Inc. II in favor of the Bank, which Liens were
created by the Security Agreement.
Pursuant to a Loan Agreement, dated December 30, 1993, as amended by the
Amendment No. 1 to Loan Agreement, dated December 31, 1994, the Amendment to
Loan Agreement, dated as of December 29, 1995, and the Omnibus Amendment to Loan
Documents, dated as of July 26, 1996, among The Sumitomo Bank, Limited
("Sumitomo"), as assignee of The Daiwa Bank, Limited, Alkermes Investments, Inc.
and Alkermes, Inc., Alkermes, Inc. has established for the benefit and on behalf
of Sumitomo Bank of New York Trust Company a restricted custodial account (the
"Restricted Account"). Pursuant to such Loan Agreement, as amended, and certain
other agreements executed in connection therewith, upon the occurrence of
certain specified events, Sumitomo has the right to require Xxxxxx Xxxxxxx & Co.
to deliver certain funds of Alkermes, Inc. for which Xxxxxx Xxxxxxx serves as
custodian to Sumitomo Bank of New York Trust Company for deposit into the
Restricted Account. Alkermes, Inc. has granted Sumitomo a security interest in
all of its right, title and interest in the Restricted Account and all deposits
or investments held therein.
