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Exhibit 10.29(b)
SECOND LOAN SUPPLEMENT AND MODIFICATION AGREEMENT
This Second Loan Supplement and Modification Agreement ("this
Agreement") is made as of March 19, 1998 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 among the Borrowers and the Bank, as
amended by the below-defined First Loan Supplement (as so amended, the "Letter
Agreement"); (ii) 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"); (iii) 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;
(iv) that certain $2,500,000 original principal amount promissory note dated
June 2, 1997 (the "1997 Term Note") made by the Borrowers and payable to the
order of the Bank; (v) that certain Security Agreement dated as of September 27,
1996 from the Borrowers to the Bank, as amended by the First Loan Supplement (as
so amended, the "Security Agreement"); (vi) that certain Pledge Agreement dated
as of September 27, 1996 from Alkermes to the Bank, as affected by the First
Loan Supplement (as so affected, the "Pledge"); (vii) that certain Mortgage and
Security Agreement dated as of September 27, 1996 from ACT II to the Bank
relating to premises of ACT II in Clinton County, Ohio, as affected by the First
Loan Supplement (as so affected, the "Ohio Mortgage"); and (viii) that certain
promissory note of even date herewith (the "1998 Term Note") in the face
principal amount of the $4,000,000 made by the Borrowers and payable to the
order of the Bank. The Letter Agreement, the 1995 Note, the Ohio Term Note, the
1997 Term Note, the Security Agreement, the Pledge, the Ohio Mortgage and the
1998 Term Note are hereinafter referred to collectively as the "Financing
Documents". A copy of the form of the 1998 Term Note is attached hereto as
Exhibit 1. As used herein, the term "First Loan Supplement" will be deemed to
refer to that certain Loan Supplement and Modification Agreement dated as of
June 2, 1997 among the Borrowers and the Bank.
2. 1998 TERM LOANS. (a) MAKING OF 1998 TERM LOANS. Subject to the
terms and conditions hereof, the Bank will make one or more loans (the "1998
Term Loans") to the Borrowers, as the Borrowers may request, on any Business Day
(as defined in the Letter Agreement) prior to the first to occur of (i) the
close of business on June 30, 1998 or (ii) the earlier termination, pursuant to
paragraph 2(e) below, of the within-described facility for 1998 Term Loans. A
1998 Term Loan shall be made not more than once per calendar quarter unless each
additional 1998 Term Loan in any one calendar quarter is in an amount of at
least $250,000.
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Each 1998 Term Loan will be in such amount as may be requested by the Borrowers;
provided that (i) no 1998 Term Loan will be made after the close of business on
June 30, 1998; (ii) the aggregate original principal amounts of all 1998 Term
Loans will not exceed $4,000,000; and (iii) no 1998 Term Loan will be in an
amount in excess of 100% of the invoiced actual costs of the tangible property
constituting the items of Qualifying Equipment with respect to which such 1998
Term Loan is made (excluding taxes, shipping, software, installation charges,
training fees and other "soft costs"). In connection with the making of each
1998 Term Loan, and as a precondition thereto, the Borrowers will provide 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 such 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 or 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
such 1998 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 March 1,
1997 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 a 1998 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 1998
Term Loans will be evidenced by the 1998 Term Note. Interest on the 1998 Term
Loans shall be payable at the times and at the rate provided for in the 1998
Term Note. Overdue principal of any 1998 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) four (4%) percent per annum PLUS (ii) the
per annum rate otherwise payable under the 1998 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
1998 Term Note or on the books of the Bank, at or following the time of the
making of any 1998 Term Loan and of receiving any payment of principal of any
1998 Term Loan, an appropriate notation reflecting such transaction and the then
aggregate unpaid principal balance of the 1998 Term Loans. 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 1998 Term Loans.
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 1998
Term Note. The 1998 Term Loans will be made jointly to the
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Borrowers and repayment thereof will be the joint and several obligation of the
Borrowers. The 1998 Term Loans will be used by the Borrowers solely to pay (or
to reimburse the Borrowers for) the costs of acquisition of Qualifying
Equipment.
(b) REPAYMENT OF 1998 TERM LOANS. The Borrowers shall repay (and
shall be jointly and severally obligated to repay) principal of the 1998 Term
Loans in 60 equal consecutive monthly installments, commencing on July 1, 1998
and continuing on the first Business Day of each month thereafter. Each such
monthly installment of principal payable with respect to the 1998 Term Loans
shall be in an amount equal to 1/60th of the aggregate principal amount of the
1998 Term Loans outstanding at the close of business on June 30, 1998. In any
event, the then outstanding principal balance of the 1998 Term Loans and all
interest then accrued but unpaid thereon shall be due and payable in full on
June 2, 2003. The Borrowers may prepay, at any time or from time to time, the
whole or any portion of the 1998 Term Loans; provided that each such principal
prepayment shall be accompanied by payment of all interest under the 1998 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 1998 Term Loans will be applied to installments of principal of the 1998
Term Loans thereafter coming due in inverse order of normal maturity.
(c) FACILITY FEES. With respect to the 1998 Term Loans, 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 $20,000. 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.
(d) CONDITIONS TO ADVANCE. Without limiting the foregoing, any
1998 Term Loan is subject to the further conditions precedent that on the date
on which such 1998 Term Loan is made (and after giving effect thereto):
(i) All statements, representations and warranties of each
Borrower made in the Letter Agreement and/or in the Security Agreement shall
continue to be correct in all material respects as of the date of such 1998 Term
Loan.
(ii) All covenants and agreements of each Borrower contained herein
and/or in any of the other Loan Documents (as defined in the Letter Agreement)
shall have been complied with in all material respects on and as of the date of
such 1998 Term Loan.
(iii) 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) shall have occurred and be continuing.
(iv) No material adverse change shall have occurred in the
financial condition of any Borrower from that disclosed in the financial
statements then most recently furnished to the Bank.
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Each request by the Borrowers for any 1998 Term Loan, and each
acceptance by any Borrower of the proceeds of any 1998 Term Loan, will be deemed
a joint and several representation and warranty by the Borrowers that at the
date of such 1998 Term Loan and after giving effect thereto all of the
conditions set forth in the foregoing clauses (i)-(iv) of this paragraph 2(d)
will be satisfied.
(e) TERMINATION ON DEFAULT. The Borrowers agree that if any Event
of Default shall occur and be continuing, the Bank may, in addition to and not
in limitation of its other rights and remedies described in Section 5.2 of the
Letter Agreement, terminate the within facility for 1998 Term Loans by written
notice to the Borrowers (except that such termination will be deemed to have
occurred automatically and without any requirement for notice if there shall
occur any Event of Default described in clause (h) of Section 5.1 of the Letter
Agreement).
3. CONCERNING THE LETTER AGREEMENT. The parties agree as follows
with respect to the Letter Agreement:
a. That the 1998 Term Loans constitute "Additional Term Loans" as
defined in Section 1.5 of the Letter Agreement and are thus included within the
definitions of "Term Loan" and "Term Loans" for all purposes of the Letter
Agreement.
b. That the 1998 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 1998 Term Loans and to the 1998 Term Note.
c. That each 1998 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 1.7 of the Letter Agreement is hereby amended by
inserting into the third sentence of the second paragraph of said Section 1.7,
immediately after the words "immediately available funds", the following:
"in lawful money of the United States"
e. That Section 3.6 of the Letter Agreement is hereby amended by
deleting therefrom the number "$12,500,000" and by substituting in its stead the
following:
"$15,000,000"
f. That Section 5.3 of the Letter Agreement is hereby amended by
adding, at the end of such Section, the following:
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"ANY AND ALL RIGHTS TO REQUIRE THE BANK TO EXERCISE ITS RIGHTS OR
REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES ANY OF THE
OBLIGATIONS PRIOR TO THE EXERCISE BY THE BANK OF ITS RIGHT OF SET-OFF
UNDER THIS SECTION ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY
WAIVED."
g. That, pursuant to Section 6.6 of the Letter Agreement, the
notice address for the Bank is hereby changed to:
"Fleet National Bank
High Technology Group
Xxx Xxxxxxx Xxxxxx, 0xx Xxxxx
Xxxxxx, XX 00000
Attention: Irina Case, Assistant Vice President"
h. That Article VI of the Letter Agreement is hereby amended by
adding, at the end of such Article, the following:
"6.8. BINDING EFFECT; ASSIGNMENT. This letter agreement
shall be binding upon the Borrowers, their respective successors and
assigns and shall inure to the benefit of the Borrowers and the Bank
and their respective permitted successors and assigns. No Borrower may
assign this letter agreement or any rights hereunder without the
express written consent of the Bank. The Bank may, in accordance with
applicable law, from time to time assign or grant participations in
this letter agreement, any Term Loans and/or any Term Note. Without
limitation of the foregoing generality:
(i) The Bank may at any time pledge all or any portion of
its rights under the Loan Documents (including any
portion of any Term Note) to any of the 12 Federal
Reserve Banks organized under Section 4 of the
Federal Reserve Act, 12 U.S.C. Section 341. No such
pledge or the enforcement thereof shall release the
Bank from its obligations under any of the Loan
Documents.
(ii) The Bank shall have the unrestricted right at any
time and from time to time, and without the consent
of or notice to any Borrower, to grant to one or more
banks or other financial institutions (each, a
`Participant') participating interests in the Bank's
obligation to lend hereunder and/or any or all of the
Term Loans held by the Bank hereunder. In the event
of any such grant by the Bank of a participating
interest to a Participant, whether or not upon notice
to the Borrowers, the Bank shall remain responsible
for the performance of its obligations hereunder and
the Borrowers shall continue to deal solely and
directly with the Bank in connection with the Bank's
rights and obligations hereunder. The Bank may
furnish any information concerning the Borrowers in
its possession
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from time to time to prospective assignees and
Participants; provided that the Bank shall require
any such prospective assignee or Participant to agree
in writing to maintain the confidentiality of such
information to the same extent as the Bank would be
required to maintain such confidentiality.
6.9. CONSENT TO JURISDICTION. Each Borrower irrevocably
submits to the non-exclusive jurisdiction of any Massachusetts court or
any federal court sitting within The Commonwealth of Massachusetts over
any suit, action or proceeding arising out of or relating to this
letter agreement and/or any Term Note. Each Borrower irrevocably
waives, to the fullest extent permitted by law, any objection which it
may now or hereafter have to the laying of venue of any such suit,
action or proceeding brought in such a court and any claim that any
such suit, action or proceeding has been brought in an inconvenient
forum. Each Borrower agrees that final judgment in any such suit,
action or proceeding brought in such a court shall be enforced in any
court of proper jurisdiction by a suit upon such judgment, provided
that service of process in such action, suit or proceeding shall have
been effected upon such Borrower in one of the manners specified in the
following paragraph of this ss.6.9 or as otherwise permitted by law.
Each Borrower hereby consents to process being served in any
suit, action or proceeding of the nature referred to in the preceding
paragraph of this ss.6.9 either (i) by mailing a copy thereof by
registered or certified mail, postage prepaid, return receipt
requested, to it at its address set forth in ss.6.6 (as such address
may be changed from time to time pursuant to said ss.6.6) or (ii) by
serving a copy thereof upon it at its address set forth in ss.6.6 (as
such address may be changed from time to time pursuant to said ss.6.6).
6.10. SEVERABILITY. In the event that any provision of this
letter agreement or the application thereof to any Person, property or
circumstances shall be held to any extent to be invalid or
unenforceable, the remainder of this letter agreement, and the
application of such provision to Persons, properties or circumstances
other than those as to which it has been held invalid and
unenforceable, shall not be affected thereby, and each provision of
this letter agreement shall be valid and enforced to the fullest extent
permitted by law.
6.11. REPLACEMENT NOTE. Upon receipt of an affidavit of an
officer of the Bank as to the loss, theft, destruction or mutilation of
any Term Note or of any other Loan Document which is not of public
record and, in the case of any such mutilation, upon surrender and
cancellation of such Term Note or other Loan Document, the Borrower
will issue, in lieu thereof, a replacement Term Note or other Loan
Document in the same principal amount (as to such Term Note) and in any
event of like tenor.
6.12. USURY. All agreements between any Borrower and the
Bank are hereby expressly limited so that in no contingency or event
whatsoever, whether
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by reason of acceleration of maturity of any Term Note or otherwise,
shall the amount paid or agreed to be paid to the Bank for the use or
the forbearance of the Indebtedness represented by any Term Note exceed
the maximum permissible under applicable law. In this regard, it is
expressly agreed that it is the intent of the Borrowers and the Bank,
in the execution, delivery and acceptance of the Term Notes, to
contract in strict compliance with the laws of The Commonwealth of
Massachusetts. If, under any circumstances whatsoever, performance or
fulfillment of any provision of any Term Note or any of the other Loan
Documents at the time such provision is to be performed or fulfilled
shall involve exceeding the limit of validity prescribed by applicable
law, then the obligation so to be performed or fulfilled shall be
reduced automatically to the limits of such validity, and if under any
circumstances whatsoever the Bank should ever receive as interest an
amount which would exceed the highest lawful rate, such amount which
would be excessive interest shall be applied to the reduction of the
principal balance evidenced by the Term Notes and not to the payment of
interest. The provisions of this Section 6.12 shall control every other
provision of this letter agreement and of the Term Notes.
6.13. WAIVER OF JURY TRIAL. THE BORROWERS AND THE BANK
HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY MUTUALLY WAIVE THE
RIGHT TO A TRIAL BY JURY IN RESPECT OF ANY CLAIM BASED HEREON, ARISING
OUT OF, UNDER OR IN CONNECTION WITH THIS LETTER AGREEMENT, ANY TERM
NOTE OR ANY OTHER LOAN DOCUMENTS OR OUT OF ANY COURSE OF CONDUCT,
COURSE OF DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN) OR ACTIONS OF
ANY PARTY. THIS WAIVER CONSTITUTES A MATERIAL INDUCEMENT FOR THE BANK
TO ENTER INTO THIS LETTER AGREEMENT AND TO MAKE TERM LOANS AS
CONTEMPLATED HEREIN."
i. That Section 7.1 of the Letter Agreement is hereby amended by
inserting into the definition of "Person" appearing in said Section 7.1,
immediately after the words "corporation, partnership," the following:
"limited liability company,"
j. That Section 7.1 of the Letter Agreement is hereby amended by
deleting from the definition of "Principal Office" appearing in said Section 7.1
the words "75 Xxxxx Xxxxxx, Xxxxxx, XX 00000" and by substituting in their stead
the following:
"One Xxxxxxx Xxxxxx, Xxxxxx, XX 00000"
4. CONCERNING THE SECURITY AGREEMENT. The parties agree as
follows with respect to the Security Agreement:
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a. That each 1998 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 hereby, to the "1998 Term Loans" will be deemed to refer to the 1998
Term Loans, as hereinabove defined.
b. That the 1998 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 (together
with all items constituting Qualified Equipment supporting any 1998 Term Loan
made subsequent to the date hereof) 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
(together with all items constituting Qualified Equipment supporting any 1998
Term Loan made subsequent to the date hereof) shall also be deemed to be "1998
Loan Collateral" for the purposes of Section 17 of the Security Agreement.
d. That the 1994 Loan Collateral (as defined in the Security
Agreement) is hereby released from the lien of the Security Agreement and no
longer constitutes Collateral thereunder.
e. 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,
except for the release of the 1994 Loan Collateral described above) all of the
items appearing on Exhibit 2 attached hereto.
f. 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 1995 Term Loan, the Ohio Term Loan, the 1997 Term Loan
or the 1998 Term Loans, the Secured Party will, at the Debtors'
request, execute and deliver to the Debtors a release of the 1995 Loan
Collateral or the Ohio Loan Collateral or the 1997 Loan Collateral or
the 1998 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 1995 Loan Collateral,
the Ohio Loan Collateral, the 1997 Loan Collateral or the 1998 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 1995 Term Loan or the Ohio Term
Loan or the 1997 Term Loan or the 1998 Term Loans (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 value of not
less than the 'Required Minimum
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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 1998 Term Note constitutes an "Additional Term Note"
as described in Section 2 of the Pledge, with the result that the 1998 Term Note
is included within the "Loan Documents" as defined in Section 2 of the Pledge.
b. That each 1998 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 1998
Term Note constitutes one of the "Other Term Notes" described in the WITNESSETH
clause of the Ohio Mortgage, with the result that the 1998 Term Loans are among
the obligations secured by the Ohio Mortgage. The Borrowers acknowledge that the
notice address of the Bank, for the purposes of Section 24 of the Ohio Mortgage,
has been changed to the address set forth in paragraph 3g above.
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 1998 Term Note have been duly authorized by 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.
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b. Each Borrower has duly executed and delivered each of this
Agreement and the 1998 Term Note.
c. Each of this Agreement and the 1998 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, 1997, 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 or to agree to any amendment or
modification of any provision of any of the Financing Documents on any other or
future occasion.
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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, CFO and
Treasurer
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/ Irina Case
-----------------------------
Name: Irina Case
Title: Vice President
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EXHIBIT 2
1998 LOAN COLLATERAL
ALKERMES/ACTII FIXED ASSET LIST
Date of Total
Purchase Company Description Ref # Invoice
------------------------------------------------------------------------------------------------------------------------------------
ALKERMES EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
4/3/97 AMC Computers APCM5543LL PMAC 7300 157078 7,695.00
4/3/97 Entex So-Sony dat w/4 cart 2 4MB 156363 1,486.85
4/22/97 Superior Control Prolease 500 Data Acquisition system 157201 3,453.00
5/23/97 AMC Computers Powermac 8600/200 157954 6,115.00
5/6/97 Xxxxxxx High Vaccum pump E2M18, clean & overhaul kit, blade kit for E2M18 157371 3,443.73
5/14/97 FTS Systems Inc Recirculator, 230v/60hz, AC 157848 13,200.00
5/5/97 Geneva Group Ultra Wide hot Swapable drive, smart-2 Array PCI controller,
128mb memory module 156609 5,761.47
5/26/97 Kinematica Inc Dispersing & Homogenizing Unit, Frequency Inverter RECO 1/3
payment each 157693 5,941.65
5/26/97 Kinematica Inc Polytron PT-SO 45/2G, teflon seals, drive unit, RECO 81
Speed Stabilizer 157694 5,901.00
5/26/97 Kinematica Inc Polytron PT-SO 45/2G, teflon seals, drive unit, RECO 81
Speed Stabilizer 157695 5,941.70
5/9/97 la Calhene replacement canopy for two half suit isolator 157624 6,245.00
5/29/97 MacWarehouse Powermac 8600/200, Powermac 9600/200, Powerbool 3400c/200 157721 26,085.00
5/2/97 Xxxxxx Moisture part 30565-01 HC-150I 208/240VAC 1P 60HZ 157243 2,695.00
5/29/97 National Process 30% downpayment 75 gaallon cop tank w/controls and all
options 157825 12,084.30
5/7/97 Precision Stainless Inc 50 liter portable mix tank 157672 16,902.00
5/9/97 Precision Stainless Inc 50 liter portable mix tank 157670 16,902.00
5/5/97 R.A.S. Replacement Heat Exchanger bundle 158030 5,600.00
5/21/97 Superior Control Upgrade 1 PL 50 Data Acquisition System to Prolease 500 157512 9,367.50
4/28/97 VWR Corporation Balance level, printer, barometer, ultrason, anudisc, cart 157269 5,452.83
5/30/97 VWR Corporation Revco Ultima ULT 158099 6,660.00
5/12/97 Waters Corporation 2690 Colum heater ASSY (2) 157338 2,200.00
6/17/97 AMC Computer HP laser printer, 500sheet assembly w/paper 158857 6,597.00
5/9/97 bioMerieux Xxxxx Inc Xxxxx 32/datatrack S/N 3763-R 158503 42,200.00
6/20/97 Xxxxxx Corporation FAB 4" polymer transfer container 158604 2,000.00
6/20/97 Xxxxxx Corporation 18"X24" tray w/porous side filter 158605 1,925.00
6/27/97 Xxxxxx Corporation clean stema modification system 158692 4,615.00
6/2/97 Xxxxxx Corporation PL500 dispenser Tank B 159352 9,500.00
6/16/97 Getinge Castle 45% down on GE 6610 AR-2 sterilizer weld mapping boroscope 158419 58,095.00
6/7/97 Hewlett Packard Temperature conteol Autosampler 158237 2,928.00
6/24/97 Hewlett Packard Programmable fluorescence detector & equip. parts 159344 11,910.00
6/27/97 Lightnin PKS05E mixer 158882 42,189.28
9/3/97 Lightnin Returned Goods, Style 11 Seals (ref #158882) 162221 -8,288.00
6/6/97 M&O Perry industries model LM-14 manual powder filler w/ stainless steel fill gun 158366 3,542.37
6/5/97 MacWarehouse apple 166MHZ PC compatibility 158243 1,963.75
6/17/97 MacWarehouse power Mac 9600/233MHZ 158427 6,818.75
5/8/97 MacWarehouse Return - Ref #145693 (Fleet 1997 List) 158516 -1,598.00
6/27/97 Northern Business Machines Sharp facsimile 159316 1,876.35
6/24/97 Xxxxxx Xxxxx Flexicool service, kit DSC cooling ACCY 158670 5,321.90
EXHIBIT 2
1998 LOAN COLLATERAL
ALKERMES/ACTII FIXED ASSET LIST
Date of Less Less Total
Purchase Company Description Freight/Other Sales Tax Invoice
------------------------------------------------------------------------------------------------------------------------------------
ALKERMES EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
4/3/97 AMC Computers APCM5543LL PMAC 7300 0.00 0.00 7,695.00
4/3/97 Entex So-Sony dat w/4 cart 2 4MB 22.10 69.75 1,395.00
4/22/97 Superior Control Prolease 500 Data Acquisition system 0.00 0.00 3,453.00
5/23/97 AMC Computers Powermac 8600/200 35.00 0.00 6,080.00
5/6/97 Xxxxxxx High Vaccum pump E2M18, clean & overhaul kit, blade kit for E2M18 58.73 0.00 3,385.00
5/14/97 FTS Systems Inc Recirculator, 230v/60hz, AC 0.00 0.00 13,200.00
5/5/97 Geneva Group Ultra Wide hot Swapable drive, smart-2 Array PCI controller,
128mb memory module 25.00 273.17 5,463.30
5/26/97 Kinematica Inc Dispersing & Homogenizing Unit, Frequency Inverter RECO 1/3
payment each 0.00 0.00 5,941.65
5/26/97 Kinematica Inc Polytron PT-SO 45/2G, teflon seals, drive unit, RECO 81
Speed Stabilizer 150.00 0.00 5,751.00
5/26/97 Kinematica Inc Polytron PT-SO 45/2G, teflon seals, drive unit, RECO 81
Speed Stabilizer 0.00 0.00 5,941.70
5/9/97 la Calhene replacement canopy for two half suit isolator 0.00 0.00 6,245.00
5/29/97 MacWarehouse Powermac 8600/200, Powermac 9600/200, Powerbool 3400c/200 120.00 0.00 25,965.00
5/2/97 Xxxxxx Moisture part 30565-01 HC-150I 208/240VAC 1P 60HZ 75.00 0.00 2,620.00
5/29/97 National Process 30% downpayment 75 gallon cop tank w/controls and all
options 0.00 0.00 12,084.30
5/7/97 Precision Stainless Inc 50 liter portable mix tank 0.00 0.00 16,902.00
5/9/97 Precision Stainless Inc 50 liter portable mix tank 0.00 0.00 16,902.00
5/5/97 R.A.S. Replacement Heat Exchanger bundle 0.00 0.00 5,600.00
5/21/97 Superior Control Upgrade 1 PL 50 Data Acquisition System to Prolease 500 0.00 0.00 9,367.50
4/28/97 VWR Corporation Balance level, printer, barometer, ultrason, anudisc, cart 0.00 0.00 5,452.83
5/30/97 VWR Corporation Revco Ultima ULT 0.00 0.00 6,660.00
5/12/97 Waters Corporation 2690 Colum heater ASSY (2) 0.00 0.00 2,200.00
6/17/97 AMC Computer HP laser printer, 500sheet assembly w/paper 62.00 0.00 6,535.00
5/9/97 bioMerieux Xxxxx Inc Xxxxx 32/datatrack S/N 3763-R 0.00 0.00 42,200.00
6/20/97 Xxxxxx Corporation FAB 4" polymer transfer container 0.00 0.00 2,000.00
6/20/97 Xxxxxx Corporation 18"X24" tray w/porous side filter 0.00 0.00 1,925.00
6/27/97 Xxxxxx Corporation clean stema modification system 0.00 0.00 4,615.00
6/2/97 Xxxxxx Corporation PL500 dispenser Tank B 0.00 0.00 9,500.00
6/16/97 Getinge Castle 45% down on GE 6610 AR-2 sterilizer weld mapping boroscope 0.00 0.00 58,095.00
6/7/97 Hewlett Packard Temperature conteol Autosampler 338.00 0.00 2,590.00
6/24/97 Hewlett Packard Programmable fluorescence detector & equip. parts 450.00 0.00 11,460.00
6/27/97 Lightnin PKS05E mixer 77.28 0.00 42,112.00
9/3/97 Lightnin Returned Goods, Style 11 Seals (ref #158882) 0.00 0.00 -8,288.00
6/6/97 M&O Perry industries model LM-14 manual powder filler w/ stainless steel fill gun 22.37 0.00 3,520.00
6/5/97 MacWarehouse apple 166MHZ PC compatibility 13.75 0.00 1,950.00
6/17/97 MacWarehouse power Mac 9600/233MHZ 88.75 0.00 6,730.00
5/8/97 MacWarehouse Return - Ref #145693 (Fleet 1997 List) 0.00 0.00 -1,598.00
6/27/97 Northern Business Machines Sharp facsimile 0.00 89.35 1,787.00
6/24/97 Xxxxxx Xxxxx Flexicool service, kit DSC cooling ACCY 191.90 0.00 5,130.00
Page 1
13
EXHIBIT 2
1998 LOAN COLLATERAL
ALKERMES/ACTII FIXED ASSET LIST
Date of Total
Purchase Company Description Ref # Invoice
------------------------------------------------------------------------------------------------------------------------------------
ALKERMES EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
6/6/97 Perrigo, Inc. 1 Cashco sanitary Reg. 158328 1,365.14
6/10/97 Superior Control 70%down PL500 Replacement 158380 17,906.00
7/1/97 Superior Control Upgrade 1PL 50 data acquisition system Prolease 500 159264 3,122.50
6/25/97 Xxxxxxx-Automatic solenoid S/S line pressure feed dystem & equip. parts 158740 14,765.00
6/11/97 VWR Scientific Masterpro, balance 12000G 158280 2,208.75
3/28/97 Waters Corporation Return - Ref #9091 (Fleet 1997 List) 158374 -22,150.00
6/20/97 AMSCO-PA Return - Ref #154755 (Fleet 1997 List) 159384 -1,835.25
3/6/97 Columbus Instrument 1440-D-35 Analgesia Hot Plate 159589 2,251.47
7/25/97 Xxxxxx Corporation 3PCs Pl500 SC top Assy, extraction tank outlet ported valve 160092 5,255.00
7/14/97 Dell Direct Sales Dell 6200/OP GXpro, w/Pentium Integrades 3COM 159405 6,258.00
7/24/97 Harvard Apparatus PHD 200 program W/4X140 R 159674 3,100.69
7/31/97 Hewlett Packard Hewlett packard 6890 gas chromintograpgh 160082 43,597.35
7/17/97 Integrated Labeling 90Xi II Clea Media Door 159487 3,882.72
6/17/97 La Calhene 2 PN C7992 Polythylene container with handles 159715 3,404.00
6/17/97 La Calhene 2 PN C7992 Polythylene container with handles 159716 3,404.00
7/24/97 Lightnin (2) 270679PSP Mech seal assy style 13 159359 4,144.00
7/24/97 Lightnin (2) 270679PSP Mech seal assy style 13 160093 4,144.00
5/21/97 Millipore Corporation Return - Ref #6324 (Fleet 1997 List) 159385 -3,000.00
7/18/97 National Process Sinamatic sytem 75g Baskets value & acce. 159718 28,196.70
7/21/97 Power Computing PCP210 NT/16X/1MC/64MB/2GB/4MBV RPGR/PWER DISPLAY 17" 159590 30,583.40
7/3/97 Sensotec JPW500ZP Digital sanitary gauce 159358 5,230.03
7/15/97 Superior Control PL50 Rewire 159737 2,915.00
7/1/97 Superior Control PL500 Replacement 159170 2,558.00
7/29/97 VWR Scientific Centrifuge 5410 115V/60HZ CSA 160002 1,241.25
8/22/97 Alloy Products Co. vessel 14 gsl, electro-polish, 14gal vessel 160899 13,232.55
7/14/97 Xxxxxx Corporation Extraction tank PP condesate drain, modify mixer 160312 2,295.00
8/25/97 Xxxxxx Corporation Bioteck CMP Ported 160869 3,190.00
8/23/97 Xxxxxxx Corporation TN; small valume module (SVM) AA33082 160914 8,575.00
8/5/97 Xxxxxxx High Vaccum Pump E2M12 115/230V 160477 2,677.77
8/6/97 Genesis Machinery XX Xxxxx Table Capper serial #LW320 160819 10,088.00
8/4/97 ITT Sherotec 6"TC ferrule FD top, 6"TC ferrule FD bottom, dispenser tank
for isolator, 160300 14,950.50
8/21/97 ITT Sherotec 6"TC ferrule FD bottom, dispersion tank a for SS isolator 160749 13,695.00
8/26/97 M&O Perry Industries 40% fown payment- model P1550 powder filling, stoppering
and Alu-crimp 160875 92,300.00
8/21/97 Precision Detectors Laser light scattering, detector, interface electronic board 160898 20,064.35
8/6/97 Sensotec Digital sanitary gauge 160518 1,047.76
8/13/97 VWR Corporation Master pro balance 12000G X.1G 160511 2,208.75
8/22/97 Waters Corporation 996 photodiode array detect 160678 14,606.95
9/10/97 AMC Computer Apple p/mac 8600/300 32/4gb/42x 161263 6,840.00
9/18/97 AMC Computer Apple p/mac 8600/300 32/4gb/42x 161508 3,419.00
9/22/97 CDW TOS 510CDT 5/133 2.1 GB 16MB CT 161867 5,312.21
EXHIBIT 2
1998 LOAN COLLATERAL
ALKERMES/ACTII FIXED ASSET LIST
Date of Less Less Total
Purchase Company Description Freight/Other Sales Tax Invoice
------------------------------------------------------------------------------------------------------------------------------------
ALKERMES EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
6/6/97 Perrigo, Inc. 1 Cashco sanitary Reg. 7.96 0.00 1,357.18
6/10/97 Superior Control 70%down PL500 Replacement 0.00 0.00 17,906.00
7/1/97 Superior Control Upgrade 1PL 50 data acquisition system Prolease 500 0.00 0.00 3,122.50
6/25/97 Xxxxxxx-Automatic solenoid S/S line pressure feed dystem & equip. parts 0.00 0.00 14,765.00
6/11/97 VWR Scientific Masterpro, balance 12000G 0.00 0.00 2,208.75
3/28/97 Waters Corporation Return - Ref #9091 (Fleet 1997 List) 0.00 0.00 -22,150.00
6/20/97 AMSCO-PA Return - Ref #154755 (Fleet 1997 List) 0.00 0.00 -1,835.25
3/6/97 Columbus Instrument 1440-D-35 Analgesia Hot Plate 16.47 0.00 2,235.00
7/25/97 Xxxxxx Corporation 3PCs Pl500 SC top Assy, extraction tank outlet ported valve 0.00 0.00 5,255.00
7/14/97 Dell Direct Sales Dell 6200/OP GXpro, w/Pentium Integrades 3COM 200.00 0.00 6,058.00
7/24/97 Harvard Apparatus PHD 200 program W/4X140 R 5.69 0.00 3,095.00
7/31/97 Hewlett Packard Hewlett packard 6890 gas chromintograpgh 500.00 0.00 43,097.35
7/17/97 Integrated Labeling 90Xi II Clea Media Door 17.72 0.00 3,865.00
6/17/97 La Calhene 2 PN C7992 Polythylene container with handles 0.00 0.00 3,404.00
6/17/97 La Calhene 2 PN C7992 Polythylene container with handles 0.00 0.00 3,404.00
7/24/97 Lightnin (2) 270679PSP Mech seal assy style 13 0.00 0.00 4,144.00
7/24/97 Lightnin (2) 270679PSP Mech seal assy style 13 0.00 0.00 4,144.00
5/21/97 Millipore Corporation Return - Ref #6324 (Fleet 1997 List) 0.00 0.00 -3,000.00
7/18/97 National Process Sinamatic sytem 75g Baskets value & acce. 0.00 0.00 28,196.70
7/21/97 Power Computing PCP210 NT/16X/1MC/64MB/2GB/4MBV RPGR/PWER DISPLAY 17" 300.00 0.00 30,283.40
7/3/97 Sensotec JPW500ZP Digital sanitary gauce 5.03 0.00 5,225.00
7/15/97 Superior Control PL50 Rewire 0.00 0.00 2,915.00
7/1/97 Superior Control PL500 Replacement 0.00 0.00 2,558.00
7/29/97 VWR Scientific Centrifuge 5410 115V/60HZ CSA 0.00 0.00 1,241.25
8/22/97 Alloy Products Co. vessel 14 gsl, electro-polish, 14gal vessel 0.00 62.55 13,170.00
7/14/97 Xxxxxx Corporation Extraction tank PP condesate drain, modify mixer 0.00 0.00 2,295.00
8/25/97 Xxxxxx Corporation Bioteck CMP Ported 0.00 0.00 3,190.00
8/23/97 Xxxxxxx Corporation TN; small valume module (SVM) AA33082 25.00 0.00 8,550.00
8/5/97 Xxxxxxx High Vaccum Pump E2M12 115/230V 97.77 0.00 2,580.00
8/6/97 Genesis Machinery XX Xxxxx Table Capper serial #LW320 0.00 0.00 10,088.00
8/4/97 ITT Sherotec 6"TC ferrule FD top, 6"TC ferrule FD bottom, dispenser tank
for isolator, 95.50 0.00 14,855.00
8/21/97 ITT Sherotec 6"TC ferrule FD bottom, dispersion tank a for SS isolator 0.00 0.00 13,695.00
8/26/97 M&O Perry Industries 40% down payment- model P1550 powder filling, stoppering
and Alu-crimp 0.00 0.00 92,300.00
8/21/97 Precision Detectors Laser light scattering, detector, interface electronic board 64.35 0.00 20,000.00
8/6/97 Sensotec Digital sanitary gauge 2.76 0.00 1,045.00
8/13/97 VWR Corporation Master pro balance 12000G X.1G 0.00 0.00 2,208.75
8/22/97 Waters Corporation 996 photodiode array detect 6.95 0.00 14,600.00
9/10/97 AMC Computer Apple p/mac 8600/300 32/4gb/42x 50.00 0.00 6,790.00
9/18/97 AMC Computer Apple p/mac 8600/300 32/4gb/42x 24.00 0.00 3,395.00
9/22/97 CDW TOS 510CDT 5/133 2.1 GB 16MB CT 38.21 0.00 5,274.00
Page 2
14
EXHIBIT 2
1998 LOAN COLLATERAL
ALKERMES/ACTII FIXED ASSET LIST
Date of Total
Purchase Company Description Ref # Invoice
------------------------------------------------------------------------------------------------------------------------------------
ALKERMES EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
9/22/97 Dell Dell p6266 /pgxa mt base with 2mb video memory integrated 161955 4,551.00
8/25/97 Dell Dell dimension xps 200mhz Pentium processor minitower 161468 2,452.80
9/10/97 Hewlett Packard Programmable fluorescence detector 161342 11,386.35
9/29/97 La Calhene flex wall turbulant flow transfer isolator, work station
isolator w/two adjacent half suite and stainless steel table 162475 100,809.00
8/15/97 MacWarehouse power mac 8600/300 32mb Ram/4.0gb hd/24x cd 161361 6,965.00
9/25/97 MacWarehouse Hitachi Monitor mc6315 17" .22honz 1280x1024Q@ 78hz 161853 7,842.00
9/24/97 MacWarehouse Laserjet 6mp 600dpi 8ppm 3mb 161923 982.45
9/30/97 MacWarehouse Power Mac 8600/300 32mb Ram/4 .ogb Hd /24x cd- 161980 3,508.75
9/20/97 MacWarehouse Scanmaker III color scanner w/full v photosh 161207 1,499.00
9/26/97 MacWarehouse power mac 8600/300 32mb Ram/4.0gb hd/24x cd 162404 7,017.50
9/30/97 Xxxxxxxx Industries Valve mk96 0.75 316L 162204 1,236.24
10/3/97 Sensotec Digital sanitary gauge 162205 5,229.83
9/18/97 Szafarz printer 2650 w/ext. peat. 161812 7,284.20
9/10/97 VWR Corporation Glassware clipps for 250ml, micro centrifuge 161324 1,783.25
9/10/97 VWR Corporation Shaker Bath, Xxxxx Cover for model 2568 ,Universal Tray,
Glassware clips for 125ml and 500ml 161637 3,272.73
9/9/97 Xxxxxx Stainless Equipment Flow filling machine isolator,Air flow transport isolator
W/3 gloves 161412 67,993.65
8/30/97 Xxxxxx Line Inc. 84" Medialinx upri black uprights (Technical Furniture) 161474 8,957.78
10/6/97 Alloy Products Corp vessel 7 gal 12" ASME electro polish 162456 3,779.92
10/10/97 AMC Computer microtech 32 MB EDO upgradw, vectra XA pent-200 1.6GB-HD 162274 2,195.00
10/13/97 Apache Stainless Equipment 2 18" 37.4 -GAL 240 GRT 162484 4,090.00
Co.
10/27/97 APS Technologies dr st9100W/294ouw ext pro Mac (hardware) 163081 1,620.50
10/24/97 Bay State Computer Group SUN sparcstation & accesories 163080 4,714.75
10/7/97 CDW Computer TOS 440CDT (3) 3 PCM XJACK powerquest drivecopy 162277 8,523.00
10/20/97 CDW Computer NEC multisync E700 162770 1,923.00
10/7/97 Chemineer Inc 4-KMA-SAN Static mixer 162511 9,341.51
10/29/97 Xxxx-Xxxxxx homogenizer, high-speed 115v 163264 1,750.00
10/28/97 Xxxxxx Corporation PL500 Sc top IV 163295 1,345.00
10/13/97 Xxxx Xxxx X0000 base w/2mb video memory integrated audion WIN 95 162487 2,700.00
10/13/97 Xxxx Xxxx X0000 base w/2mb video memory integrated audion WIN 95 162488 6,414.00
00/0/00 Xxxx Xxxx X0000 base w/2mb video memory integrated audion WIN 95 162539 3,123.00
10/14/97 Xxxx Xxxx X0000 base w/2mb video memory integrated audion WIN 95 162594 2,422.00
10/20/97 Xxxx Xxxx X0000 base w/2mb video memory integrated audion WIN 95 162803 7,351.00
10/7/97 Kinematica Inc drive unit PT 45-80/110V RECO 81 speed stabilizer 110V 163563 6,501.50
10/7/97 Kinematica Inc screw, rotor, stator, mechanical , spacer, o-ring ball
bearing fork etc. 163564 5,944.80
10/9/97 la Calhene P/N C8088 Half-Suit PVC covered divetex D-5 style 162270 14,966.75
10/20/97 Lunaire Limited Advanced billing (mfg equipment) 7264 19,963.75
10/24/97 MacWarehouse power mac 8600/300 32MB 163064 3,042.75
10/29/97 Xxxxxx Xxxx inc valve, xxxxxxxx, xxxxxxxx diaphragm 163032 6,842.69
10/13/97 Sensotec digital sanitary gauge 162570 3,744.63
10/14/97 Sigimil LTD 30' sanitary line w/steam jacket 162572 9,946.00
EXHIBIT 2
1998 LOAN COLLATERAL
ALKERMES/ACTII FIXED ASSET LIST
Date of Less Less Total
Purchase Company Description Freight/Other Sales Tax Invoice
------------------------------------------------------------------------------------------------------------------------------------
ALKERMES EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
9/22/97 Dell Dell p6266 /pgxa mt base with 2mb video memory integrated 100.00 0.00 4,451.00
8/25/97 Dell Dell dimension xps 200mhz Pentium processor minitower 130.00 116.80 2,206.00
9/10/97 Hewlett Packard Programmable fluorescence detector 6.35 0.00 11,380.00
9/29/97 La Calhene flex wall turbulant flow transfer isolator, work station
isolator w/two adjacent half suite and stainless steel table 0.00 0.00 100,809.00
8/15/97 MacWarehouse power mac 8600/300 32mb Ram/4.0gb hd/24x cd 35.00 0.00 6,930.00
9/25/97 MacWarehouse Hitachi Monitor mc6315 17" .22honz 1280x1024Q@ 78hz 145.00 0.00 7,697.00
9/24/97 MacWarehouse Laserjet 6mp 600dpi 8ppm 3mb 32.50 0.00 949.95
9/30/97 MacWarehouse Power Mac 8600/300 32mb Ram/4 .ogb Hd /24x cd- 43.75 0.00 3,465.00
9/20/97 MacWarehouse Scanmaker III color scanner w/full v photosh 0.00 0.00 1,499.00
9/26/97 MacWarehouse power mac 8600/300 32mb Ram/4.0gb hd/24x cd 87.50 0.00 6,930.00
9/30/97 Xxxxxxxx Industries Valve mk96 0.75 316L 7.65 0.00 1,228.59
10/3/97 Sensotec Digital sanitary gauge 4.83 0.00 5,225.00
9/18/97 Szafarz printer 2650 w/ext. peat. 350.00 330.20 6,604.00
9/10/97 VWR Corporation Glassware clipps for 250ml, micro centrifuge 0.00 0.00 1,783.25
9/10/97 VWR Corporation Shaker Bath, Xxxxx Cover for model 2568 ,Universal Tray,
Glassware clips for 125ml and 500ml 0.00 0.00 3,272.73
9/9/97 Xxxxxx Stainless Equipment Flow filling machine isolator,Air flow transport isolator
W/3 gloves 0.00 0.00 67,993.65
8/30/97 Xxxxxx Line Inc. 84" Medialinx upri black uprights (Technical Furniture) 275.00 384.18 8,298.60
10/6/97 Alloy Products Corp vessel 7 gal 12" ASME electro polish 18.92 0.00 3,761.00
10/10/97 AMC Computer microtech 32 MB EDO upgradw, vectra XA pent-200 1.6GB-HD 40.00 0.00 2,155.00
10/13/97 Apache Stainless Equipment 2 18" 37.4 -GAL 240 GRT
Co.
10/27/97 APS Technologies dr st9100W/294ouw ext pro Mac (hardware) 20.60 0.00 1,599.90
10/24/97 Bay State Computer Group SUN sparcstation & accesories 55.48 221.87 4,437.40
10/7/97 CDW Computer TOS 440CDT (3) 3 PCM XJACK powerquest drivecopy 0.00 0.00 8,523.00
10/20/97 CDW Computer NEC multisync E700 0.00 0.00 1,923.00
10/7/97 Chemineer Inc 4-KMA-SAN Static mixer 41.51 0.00 9,300.00
10/29/97 Xxxx-Xxxxxx homogenizer, high-speed 115v 0.00 0.00 1,750.00
10/28/97 Xxxxxx Corporation PL500 Sc top IV 0.00 0.00 1,345.00
10/13/97 Xxxx Xxxx X0000 base w/2mb video memory integrated audion WIN 95 0.00 0.00 2,700.00
10/13/97 Xxxx Xxxx X0000 base w/2mb video memory integrated audion WIN 95 110.00 0.00 6,304.00
00/0/00 Xxxx Xxxx X0000 base w/2mb video memory integrated audion WIN 95 55.00 0.00 3,068.00
10/14/97 Xxxx Xxxx X0000 base w/2mb video memory integrated audion WIN 95 0.00 0.00 2,422.00
10/20/97 Xxxx Xxxx X0000 base w/2mb video memory integrated audion WIN 95 100.00 0.00 7,251.00
10/7/97 Kinematica Inc drive unit PT 45-80/110V RECO 81 speed stabilizer 110V 0.00 0.00 6,501.50
10/7/97 Kinematica Inc screw, rotor, stator, mechanical , spacer, o-ring ball
bearing fork etc. 0.00 0.00 5,944.80
10/9/97 la Calhene P/N C8088 Half-Suit PVC covered divetex D-5 style 121.75 0.00 14,845.00
10/20/97 Lunaire Limited Advanced billing (mfg equipment) 0.00 0.00 19,963.75
10/24/97 MacWarehouse power mac 8600/300 32MB 43.75 0.00 2,999.00
10/29/97 Xxxxxx Xxxx inc valve, xxxxxxxx, xxxxxxxx diaphragm 56.84 0.00 6,785.85
10/13/97 Sensotec digital sanitary gauge 4.63 0.00 3,740.00
10/14/97 Sigimil LTD 30' sanitary line w/steam jacket 146.00 0.00 9,800.00
Page 3
15
EXHIBIT 2
1998 LOAN COLLATERAL
ALKERMES/ACTII FIXED ASSET LIST
Date of Total
Purchase Company Description Ref # Invoice
------------------------------------------------------------------------------------------------------------------------------------
ALKERMES EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
10/9/97 Vaisala Inc HMI38/HMP35E combination 162340 3,486.72
11/19/97 AMC Computer Corp laserwriter 8500 printer 164125 2,710.00
11/13/97 CDW Computer laptop TOS 460CDT 164132 3,289.00
11/17/97 Xxxxxx Corporation 4 pcs rework existing 4" static 163625 1,975.00
11/12/97 Xxxxxx Corporation 2pcs 4"X6" jacketed spool pc 163628 3,300.00
11/17/97 Xxxxxx Corporation 2 pcs PL500 SC top 164130 2,185.00
11/5/97 Hewlett Packard HP 6890 series gas chromatograph 164638 36,696.53
11/6/97 Imaging Research sony model XC77 black & white CCD, video camera, power
supply & cables 164669 1,347.00
11/18/97 la Calhene flexible wall isolator & station 163899 11,201.00
11/18/97 la Calhene 2 flexible wall "turbulent flow" transfer isolator 164340 12,096.00
11/24/97 MacWarehouse PRN apple laserwriter 8500 164191 2,475.00
11/24/97 Superior Controls Inc PL500 replacement 20% down payment 164227 5,116.00
11/19/97 VWR Scientific balance prof level 164137 3,628.50
11/17/97 VWR Scientific printer, basic dot matrix, xxxxxxx xxxx, xxxxx 000XX0.000XX 164660 2,936.93
11/18/97 Xxxxxx Stainless Equip. 30% down payment 164437 30,340.50
11/7/97 Waters Corporation 2690XE separation module, 410 differential refractome 163782 35,805.00
11/10/97 Waters Corporation BUS SAT/IN module 164637 1,115.20
12/19/97 Alltech Associates CH-460 colum oven 120v 165166 1,480.00
12/31/97 Xxxxxx Corporation spray chamber tank m IH spray chamber top, center back
connector 165799 9,105.00
12/11/97 Xxxxxxx Machine Co. 1/3 down payment (ship to Albany Street) 164749 16,773.34
12/9/97 Dell Direct Sales Dell P6233 base w/2mb video memory integrated audion WIN 95 164902 1,894.00
12/10/97 Dell Direct Sales Dell P6233 base w/2mb video memory integrated audion WIN 95 164903 1,894.00
12/5/97 Dell Direct Sales 2 Dell P6233 base w/2mb video memory integrated audion WIN 95 164904 3,630.00
12/24/97 Xxxxxx Scientific vacuum pump 5.6 CFM MDL M8C 165110 1,740.00
11/26/97 La Calhene p/n C8007 divetex sleeve, polythylene containe,
autoclavable containers, replacement canopy 164610 23,246.00
12/5/97 La Calhene replacement canopy for 1/2 suit work station 164878 2,775.00
12/17/97 La Calhene flexible wall "turbulent flow" station w/ one 1/2 suit &
stainless steel table 165542 21,258.60
12/30/97 La Calhene freeze dryer isolator + instalation 20% down payment 165544 17,999.00
12/30/97 M&O Perry Industries Inc 30% down payment one model P1550 power filling stoppering
and alucrip capping 165545 69,225.00
12/3/97 MacWarehouse power mac 164606 2,967.50
12/4/97 MacWarehouse power book 164607 5,435.00
12/4/97 MacWarehouse 2 MON Sony 200gs 17" 164608 1,419.35
12/4/97 MacWarehouse 3 power mac, 1 mon apple 720 17" 164609 9,240.00
12/19/97 XxxXxxxxxxxx 0 XXX XX 0 XXXX 000000 7,090.05
12/4/97 Met One A2408-1-115-1 2 channek, UUS software kit, chart paper,
xxxxxx, ref., airbn, part 164922 5,889.75
12/19/97 Novex thermoFlow 115v etc 165256 1,300.00
12/5/97 Shiva Corporation lpe5-288-us-8, LR connecytivity kit 164849 4,275.53
12/1/97 So-Low Environmental Equip. SO-LOW freezer model U30-13 & instalation 164920 6,654.00
12/8/97 Xxxxxxxxx Co. 6 manipulator Xxx 0 Xxxx, XX 000000 9,647.27
12/12/97 URS Information APC feat pwr chute, compaq drive dat 164827 1,377.50
EXHIBIT 2
1998 LOAN COLLATERAL
ALKERMES/ACTII FIXED ASSET LIST
Date of Less Less Total
Purchase Company Description Freight/Other Sales Tax Invoice
------------------------------------------------------------------------------------------------------------------------------------
ALKERMES EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
10/9/97 Vaisala Inc HMI38/HMP35E combination 6.72 0.00 3,480.00
11/19/97 AMC Computer Corp laserwriter 8500 printer 0.00 0.00 2,710.00
11/13/97 CDW Computer laptop TOS 460CDT 0.00 0.00 3,289.00
11/17/97 Xxxxxx Corporation 4 pcs rework existing 4" static 0.00 0.00 1,975.00
11/12/97 Xxxxxx Corporation 2pcs 4"X6" jacketed spool pc 0.00 0.00 3,300.00
11/17/97 Xxxxxx Corporation 2 pcs PL500 SC top 0.00 0.00 2,185.00
11/5/97 Hewlett Packard HP 6890 series gas chromatograph 360.00 0.00 36,336.53
11/6/97 Imaging Research sony model XC77 black & white CCD, video camera, power
supply & cables 0.00 0.00 1,347.00
11/18/97 la Calhene flexible wall isolator & station 0.00 0.00 11,201.00
11/18/97 la Calhene 2 flexible wall "turbulent flow" transfer isolator 0.00 0.00 12,096.00
11/24/97 MacWarehouse PRN apple laserwriter 8500 0.00 0.00 2,475.00
11/24/97 Superior Controls Inc PL500 replacement 20% down payment 0.00 0.00 5,116.00
11/19/97 VWR Scientific balance prof level 0.00 0.00 3,628.50
11/17/97 VWR Scientific printer, basic dot matrix, xxxxxxx xxxx, xxxxx 000XX0.000XX 0.00 211.25 2,725.68
11/18/97 Xxxxxx Stainless Equip. 30% down payment 0.00 0.00 30,340.50
11/7/97 Waters Corporation 2690XE separation module, 410 differential refractome 42.00 0.00 35,763.00
11/10/97 Waters Corporation BUS SAT/IN module 0.00 0.00 1,115.20
12/19/97 Alltech Associates CH-460 colum oven 120v 0.00 0.00 1,480.00
12/31/97 Xxxxxx Corporation spray chamber tank m IH spray chamber top, center back
connector 0.00 0.00 9,105.00
12/11/97 Xxxxxxx Machine Co. 1/3 down payment (ship to Albany Street) 0.00 0.00 16,773.34
12/9/97 Dell Direct Sales Dell P6233 base w/2mb video memory integrated audion WIN 95 55.00 0.00 1,839.00
12/10/97 Dell Direct Sales Dell P6233 base w/2mb video memory integrated audion WIN 95 55.00 0.00 1,839.00
12/5/97 Dell Direct Sales 2 Dell P6233 base w/2mb video memory integrated audion WIN 95 110.00 0.00 3,520.00
12/24/97 Xxxxxx Scientific vacuum pump 5.6 CFM MDL M8C 0.00 0.00 1,740.00
11/26/97 La Calhene p/n C8007 divetex sleeve, polythylene containe,
autoclavable containers, replacment canopy 0.00 0.00 23,246.00
12/5/97 La Calhene replacment canopy for 1/2 suit work station 0.00 0.00 2,775.00
12/17/97 La Calhene flexible wall "turbulent flow" station w/ one 1/2 suit &
stainless steel table 0.00 0.00 21,258.60
12/30/97 La Calhene freeze dryer isolator + instalation 20% down payment 0.00 0.00 17,999.00
12/30/97 M&O Perry Industries Inc 30% down payment one model P1550 power filling stoppering
and alucrip capping 0.00 0.00 69,225.00
12/3/97 MacWarehouse power mac 42.50 0.00 2,925.00
12/4/97 MacWarehouse power book 0.00 0.00 5,435.00
12/4/97 MacWarehouse 2 MON Sony 200gs 17" 101.35 0.00 1,318.00
12/4/97 MacWarehouse 3 power mac, 1 mon apple 720 17" 0.00 0.00 9,240.00
12/19/97 MacWarehouse 2 PRN HP 5 SIMX 140.05 0.00 6,950.00
12/4/97 Met One A2408-1-115-1 2 channek, UUS software kit, chart paper,
xxxxxx, ref., airbn, part 389.75 0.00 5,500.00
12/19/97 Novex thermoFlow 115v etc 5.00 0.00 1,295.00
12/5/97 Shiva Coporation lpe5-288-us-8, LR connecytivity kit 14.00 202.93 4,058.60
12/1/97 So-Low Environmental SO-LOW freezer model U30-13 & instalation 359.00 0.00 6,295.00
Equip.
12/8/97 Xxxxxxxxx Co. 6 manipulator Arm 3 Axes, RH 47.27 0.00 9,600.00
12/12/97 URS Information APC feat pwr chute, compaq drive dat 12.50 65.00 1,300.00
Page 4
16
EXHIBIT 2
1998 LOAN COLLATERAL
ALKERMES/ACTII FIXED ASSET LIST
Date of Total
Purchase Company Description Ref # Invoice
------------------------------------------------------------------------------------------------------------------------------------
ALKERMES EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
12/24/97 VWR Scientific chart recorder free standing Revco 165801 1,000.00
12/29/97 Xxxxxx Stainless Equipment Co, 30% down payment 165546 20,955.00
12/2/97 Waters Corporation 474 scan fluorometer 16ul 164588 10,837.47
12/29/97 Waters Corporation separation module, sat/in for bus lac/e, scan fluorometer,
dual X.X. absorbance 165160 47,650.00
12/29/97 AMC Computer Corp powermac (3) powerbook (1) 167139 13,794.00
1/12/98 Bio-Tek Instruments 8 channel reader, powercordset, cable serial Univ 6 fltr
test plate 166028 9,876.49
12/31/97 BOC Xxxxxxx transducer 659AB 1TH-clamp 167140 1,755.70
1/17/98 Microtime Computer 233-MMX computer w/monitor and accessories 165977 1,344.00
1/17/98 Microtime Computer 233-MMX computer w/monitor and accessories 166108 1,344.00
12/31/97 CDW Computer Center NANAO flexscan 21in 166033 1,760.80
1/14/98 Xxxxxxx Machine 2nd 1/3 down payment 165940 16,773.33
1/26/98 Xxxxxx Scientific analytic M120G/ 0.1mg 115V 167143 1,822.00
12/30/97 Getinge/Castle, Inc. GE 6610 Sterilizer 10% down payment 166877 12,910.00
12/30/97 Getinge/Castle, Inc. passive, weld mapping 45% down payment 166878 58,095.00
1/2/98 La Calhene 2 P/N C14851 pressure controller 166241 3,020.75
1/16/98 Northern Business Sharp facsimile 166062 2,293.20
1/8/98 Novex powerease 500 166061 1,420.15
1/13/98 Novex thermoflow system, thermoflow mini cell 166273 2,142.41
1/21/98 U.S. Filter R.O Pharmaceutical grade water system 10% down payment 166827 35,100.00
1/23/98 VWR Scientific frzr uprt , chrt record 7 day 166867 7,960.18
2/4/98 VWR Scientific BK362108, GH 3.8 horizontal rotor 167070 1,495.00
1/26/98 VWR Scientific Xxxxxxxx instrument column heater 167078 5,549.95
12/30/97 Waters Corporation sat/in for BUS gesa/HTR cool 2487 dual X.X. absorbance 165632 47,153.00
1/14/98 Waters Corporation in-line degasser 2- channel 166243 2,505.00
2/4/98 Lightnin complete unit: 115v/230v 166879 1,469.61
1/30/98 Dell Direct Sales dell computer 166918 3,080.94
1/28/98 Dell Direct Sales c/port for computer 166919 306.01
1/30/98 Dell Direct Sales dell computer 166920 8,804.61
1/29/98 Dell Direct Sales dell computer 166921 4,595.32
1/31/98 Osmonics control valve 166928 1,116.29
2/23/98 AMC Computer Corporation vectra PC 167397 1,979.00
2/18/98 AMC Computer Corporation designjet e-size plotter body 167454 7,235.00
2/5/98 Avestin, Inc. emulsiflex-c5 pumps 167036 7,640.00
2/20/98 Xxxx-Xxxxxx sanitary flowmeter 167445 1,302.95
2/19/98 MetaChem Technologies metatherm, xxxxxxx/controller 167480 910.00
2/12/98 Savant Instruments speedvac, auto bleeder valve 167511 3,683.70
2/19/98 VWR Scientific dispenser 167370 1,878.80
ALKERMES F&F
FY1998 (APRIL 1997-MARCH 1998)
5/15/97 First Office Concepts executive task chair 157542 467.25
EXHIBIT 2
1998 LOAN COLLATERAL
ALKERMES/ACTII FIXED ASSET LIST
Date of Less Less Total
Purchase Company Description Freight/Other Sales Tax Invoice
------------------------------------------------------------------------------------------------------------------------------------
ALKERMES EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
12/24/97 VWR Scientific chart recorder free standing Revco 0.00 0.00 1,000.00
12/29/97 Xxxxxx Stainless Equipment
Co, 30% down payment 0.00 0.00 20,955.00
12/2/97 Waters Corporation 474 scan fluorometer 16ul 7.47 0.00 10,830.00
12/29/97 Waters Corporation separation module, sat/in for bus lac/e, scan fluorometer,
dual X.X. absorbance 42.00 0.00 47,608.00
12/29/97 AMC Computer Corp powermac (3) powerbook (1) 75.00 0.00 13,719.00
1/12/98 Bio-Tek Instruments 8 channel reader, powercordset, cable serial Univ 6 fltr
test plate 6.49 0.00 9,870.00
12/31/97 BOC Xxxxxxx transducer 659AB 1TH-clamp 25.70 0.00 1,730.00
1/17/98 Microtime Computer 233-MMX computer w/monitor and accessories 0.00 64.00 1,280.00
1/17/98 Microtime Computer 233-MMX computer w/monitor and accessories 0.00 64.00 1,280.00
12/31/97 CDW Computer Center NANAO flexscan 21in 80.80 0.00 1,680.00
1/14/98 Xxxxxxx Machine 2nd 1/3 down payment 0.00 0.00 16,773.33
1/26/98 Xxxxxx Scientific analytic M120G/ 0.1mg 115V 0.00 0.00 1,822.00
12/30/97 Getinge/Castle, Inc. GE 6610 Sterilizer 10% down payment 0.00 0.00 12,910.00
12/30/97 Getinge/Castle, Inc. passive, weld mapping 45% down payment 0.00 0.00 58,095.00
1/2/98 La Calhene 2 P/N C14851 pressure controller 44.75 0.00 2,976.00
1/16/98 Northern Business Sharp facsimile 109.20 0.00 2,184.00
1/8/98 Novex powerease 500 35.15 0.00 1,385.00
1/13/98 Novex thermoflow system, thermoflow mini cell 57.41 0.00 2,085.00
1/21/98 U.S. Filter R.O Pharmaceutical grade water system 10% down payment 0.00 0.00 35,100.00
1/23/98 VWR Scientific frzr uprt , chrt record 7 day 0.00 0.00 7,960.18
2/4/98 VWR Scientific BK362108, GH 3.8 horizontal rotor 0.00 0.00 1,495.00
1/26/98 VWR Scientific Xxxxxxxx instrument column heater 0.00 0.00 5,549.95
12/30/97 Waters Corporation sat/in for BUS gesa/HTR cool 2487 dual X.X. absorbance 0.00 0.00 47,153.00
1/14/98 Waters Corporation in-line degasser 2- channel 5.00 0.00 2,500.00
2/4/98 Lightnin complete unit: 115v/230v 5.61 0.00 1,464.00
1/30/98 Dell Direct Sales dell computer 55.00 0.00 3,025.94
1/28/98 Dell Direct Sales c/port for computer 10.00 0.00 296.01
1/30/98 Dell Direct Sales dell computer 300.00 0.00 8,504.61
1/29/98 Dell Direct Sales dell computer 204.31 0.00 4,391.01
1/31/98 Osmonics control valve 4.49 0.00 1,111.80
2/23/98 AMC Computer Corporation vectra PC 0.00 0.00 1,979.00
2/18/98 AMC Computer Corporation designjet e-size plotter body 0.00 0.00 7,235.00
2/5/98 Avestin, Inc. emulsiflex-c5 pumps 0.00 0.00 7,640.00
2/20/98 Xxxx-Xxxxxx sanitary flowmeter 33.95 0.00 1,269.00
2/19/98 MetaChem Technologies metatherm, xxxxxxx/controller 15.00 0.00 895.00
2/12/98 Savant Instruments speedvac, auto bleeder valve 0.00 0.00 3,683.70
2/19/98 VWR Scientific dispenser 0.00 0.00 1,878.80
ALKERMES F&F
FY1998 (APRIL 1997-MARCH 1998)
5/15/97 First Office Concepts executive task chair 0.00 22.25 445.00
Page 5
17
EXHIBIT 2
1998 LOAN COLLATERAL
ALKERMES/ACTII FIXED ASSET LIST
Date of Total
Purchase Company Description Ref # Invoice
------------------------------------------------------------------------------------------------------------------------------------
ALKERMES EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
6/13/97 First Office Concepts 3 lateral file cabinets 2 drawers 158216 1,295.69
6/11/97 First Office Concepts 7 steelcase stylr lateral files 158875 5,897.28
6/3/97 First Office Concepts 6 Xxxxxxx 5 drawer lateral file cabinet w/lock 158876 5,062.40
7/30/97 First Office Concepts full function chair w/height & width adj. arms 159960 344.43
7/21/97 Global Equipment Putty drwr, cabinet putty, 32 comp drwer dividers 159640 1,557.45
9/19/97 Creative Office Pavilion cubicals, partitions, wall first floor 161810 32,244.12
9/18/97 First Office Concepts full function ergonimic chair 162417 239.93
9/12/97 First Office Concepts storage cabinet 72" high, workstation table, hutch
for worktable 162427 1,885.95
10/15/97 First Office Concepts 8 ergonomic chairs 162284 2,502.30
10/15/97 First Office Concepts 3 ergonomic chairs 162381 870.78
9/30/97 WilTel opt 11/11E to11 two cab 162483 14,057.25
10/17/97 Global Equipment waste can liners, cabinets, compartments 162490 2,696.74
10/23/97 First Office Concepts ergonomic full funcation task 162969 292.45
10/30/97 The Xxxxxx Co modernfold operable wall & ten cemco partition system 163133 9,804.00
10/29/97 Creative Office Pavilion cubicals, partitions wall first floor 163184 2,391.81
10/29/97 Creative Office Pavilion cubicals, partitions, wall first floor 163185 1,297.73
11/24/97 Creative Office Pavilion furniture, 1st floor clinical group 166420 9,183.14
11/24/97 Creative Office Pavilion furniture, 1st floor clinical group 166419 12,624.63
12/22/97 Xxxx Xxxxxx security traveler shelves 165117 1,548.93
12/22/97 Xxxx Xxxxxx shelves, post, mobil xxxx, xxxxx xxx, xxxxx 000000 7,524.49
12/12/97 Office Depot mayline 24X72 console 165808 656.87
11/26/97 WilTel network re-wiring 165002 6,142.50
------------
TOTAL ALKERMES 1,971,964.15
------------
ACTII EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
4/3/97 Cozzoli table, turning disk, power filler, stoppering machine,
clean room exit screw, capping machine 4830 20,314.67
4/8/97 Cozzoli misc scrap parts 4831 834.00
4/3/97 Cozzoli 1/3 down payment 4832 2,828.67
4/3/97 Cozzoli 1/3 down payment 4833 49,158.67
4/3/97 Cozzoli 1/3 down payment 4834 31,791.00
4/3/97 Cozzoli 1/3 down payment 4835 24,685.00
4/14/97 AMC Computers Apple Photoconductor, apple transparencies 4811 6,344.00
5/13/97 Hewlett Packard dual channel chemserver/chemstation A/D 2750 2,750.00
5/30/97 DCI, Inc 2500 gallon round vertical insulated WFI starage tank 5511 28,397.00
5/13/97 Forma Scientific Inc 3919 Lab unit 32CF to 70C 5527 7,170.16
0/00/00 Xxx Xxxxxxxxx Xx. Xxx #0000 (Fleet 1997 List) 2245 -4,812.02
5/28/97 Vankel Technology Group custom basket, 20 MICR 99-122114 5513 2,383.00
7/1/97 Xxxxxx Scientific Gen purpose FRZR 49CUFT 115V 5947 3,033.75
7/2/97 Kason Corporation Special KO-SS Cenrtu-sifter 20% doen payment 6196 21,952.00
EXHIBIT 2
1998 LOAN COLLATERAL
ALKERMES/ACTII FIXED ASSET LIST
Date of Less Less Total
Purchase Company Description Freight/Other Sales Tax Invoice
------------------------------------------------------------------------------------------------------------------------------------
ALKERMES EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
6/13/97 First Office Concepts 3 lateral file cabinets 2 drawers 39.00 59.84 1,196.85
6/11/97 First Office Concepts 7 steelcase stylr lateral files 25.00 279.63 5,592.65
6/3/97 First Office Concepts 6 Xxxxxxx 5 drawer lateral file cabinet w/lock 35.00 239.40 4,788.00
7/30/97 First Office Concepts full function chair w/height & width adj. arms 10.00 15.93 318.50
7/21/97 Global Equipment Putty drwr, cabinet putty, 32 comp drwer dividers 307.30 0.00 1,250.15
9/19/97 Creative Office Pavilion cubicals, partitions, wall first floor 1,808.00 1,449.37 28,986.75
9/18/97 First Office Concepts full function ergonimic chair 0.00 11.43 228.50
9/12/97 First Office Concepts storage cabinet 72" high, workstation table, hutch
for worktable 39.00 87.95 1,759.00
10/15/97 First Office Concepts 8 ergonomic chairs 39.00 117.30 2,346.00
10/15/97 First Office Concepts 3 ergonomic chairs 25.00 40.28 805.50
9/30/97 WilTel opt 11/11E to11 two cab 2,250.00 562.25 11,245.00
10/17/97 Global Equipment waste can liners, cabinets, compartments 292.69 0.00 2,404.05
10/23/97 First Office Concepts ergonomic full funcation task 10.00 13.45 269.00
10/30/97 The Xxxxxx Co modernfold operable wall & ten cemco partition system 0.00 0.00 9,804.00
10/29/97 Creative Office Pavilion cubicals, partitions wall first floor 378.00 95.91 1,917.90
10/29/97 Creative Office Pavilion cubicals, partitions, wall first floor 150.00 54.68 1,093.05
11/24/97 Creative Office Pavilion furniture, 1st floor clinical group 500.00 413.49 8,269.65
11/24/97 Creative Office Pavilion furniture, 1st floor clinical group 625.00 571.43 11,428.20
12/22/97 Xxxx Xxxxxx security traveler shelves 131.32 67.51 1,350.10
12/22/97 Xxxx Xxxxxx shelves, post, mobil unit, floor pad, bench 456.83 336.56 6,731.10
12/12/97 Office Depot mayline 24X72 console 0.00 31.28 625.59
11/26/97 WilTel network re-wiring 0.00 292.50 5,850.00
----------------------------------
TOTAL ALKERMES 15,197.96 6,917.49 1,949,848.70
----------------------------------
ACTII EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
4/3/97 Cozzoli table, turning disk, power filler, stoppering machine,
clean room exit screw, capping machine 0.00 0.00 20,314.67
4/8/97 Cozzoli misc scrap parts 9.00 0.00 825.00
4/3/97 Cozzoli 1/3 down payment 0.00 0.00 2,828.67
4/3/97 Cozzoli 1/3 down payment 0.00 0.00 49,158.67
4/3/97 Cozzoli 1/3 down payment 0.00 0.00 31,791.00
4/3/97 Cozzoli 1/3 down payment 0.00 0.00 24,685.00
4/14/97 AMC Computers Apple Photoconductor, apple transparencies 0.00 0.00 6,344.00
5/13/97 Hewlett Packard dual channel chemserver/chemstation A/D 0.00 0.00 2,750.00
5/30/97 DCI, Inc 2500 gallon round vertical insulated WFI starage tank 0.00 0.00 28,397.00
5/13/97 Forma Scientific Inc 3919 Lab unit 32CF to 70C 226.66 0.00 6,943.50
6/21/97 Xxx Xxxxxxxxx Xx. Xxx #0000 (Fleet 1997 List) 0.00 0.00 -4,812.02
5/28/97 Vankel Technology Group custom basket, 20 MICR 99-122114 13.00 0.00 2,370.00
7/1/97 Xxxxxx Scientific Gen purpose FRZR 49CUFT 115V 0.00 0.00 3,033.75
7/2/97 Kason Corporation Special KO-SS Cenrtu-sifter 20% doen payment 0.00 0.00 21,952.00
Page 6
18
EXHIBIT 2
1998 LOAN COLLATERAL
ALKERMES/ACTII FIXED ASSET LIST
Date of Total
Purchase Company Description Ref # Invoice
------------------------------------------------------------------------------------------------------------------------------------
ALKERMES EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
7/15/97 The Xxxxxxxxxxx Company Model J code W-17-J Homoloid machine 30% down 5984 3,666.00
8/25/97 Dell Dell 6200/OP GXpro, w/pentium Pro 200Mhz/256K 6033 2,896.98
8/28/97 VWR Scientific PLYTRN/PT homggenizer 110V 6528 1,276.22
8/22/97 XLSource scanjet 5 ethernet 100-TX 6032 2,960.36
8/30/97 AMC Computers Thinkpad 760xl P-166 MMX 2.1 GB 32MB 12.1 6970 8,190.00
8/29/97 AMC Computers Thinkpad 560E P-150 MMX 2.1 GB 16MB 11.3 6971 20,530.00
9/30/97 AMC Computers HP 17in 1280x1024 VGA display 6979 8,301.00
9/24/97 Cozzoli Invoicing for 1/3 down payment provide parts 7 xxxxx
upgradegw24 vial 6881 3,557.00
9/23/97 Dell P6233, cache, win95, microsoft, intellimouse 7193 22,310.88
10/15/97 Xxxxxxxxxxx Co w-17-J homoloid Xxxxxxxxxxx comminuting machine 7034 1,562.80
9/3/97 Mac Warehouse Deluxe jaz kit-jaz ext, 3 addt'l carts, jazz
carring case, 1 Omega jaz 1gb cartrige 3.5"
single pc for omnipage pro V7.0 f/win95 (CD- ROM) 6802 1,923.68
9/4/97 Mac Warehouse Monitor (Sony) 17" 1280 x 1024 75hz Max 6803 1,621.80
9/17/97 SaniFab Installation of 3 Tank Access Platforms 6745 20,141.10
9/12/97 The Xxxxxxxxxxx Company Homoloid Machine Serial #.1509 6725 7,332.00
9/30/97 Vankel VK 7000 8 spindle , 000, Xxxxxx 00", Xxxxxx clear glass 6975 10,256.36
11/17/97 Alloy Piping Supply transmitter 115vac, bottom sensor 10' cable, top
sensor 15' cable 7514 4,250.38
10/21/97 AMC Computer VGA display 7175 1,280.00
11/12/97 AMC Computer jet PC card, thinkpad, battery II, CD-ROM 7488 5,730.00
11/19/97 Xxxxxxx Scale portable plataform scale 7653 1,272.80
11/4/97 Xxxxxxx Machine Co 1/3 down payment, capping machine, reject system,
spare cap head 7377 31,473.08
11/4/97 Xxxxxxx Machine Co 33% down payment for engineering 7379 11,188.88
11/4/97 Xxxxxxx Machine Co 2nd 1/3 down payment upgrade GW24 7380 3,557.00
11/4/97 Xxxxxxx Machine Co 1/3 down payment for unscrambler table & accessories 7381 20,111.52
11/4/97 Xxxxxxx Machine Co. 1/3 down payment 7375 2,800.38
11/4/97 Xxxxxxx Machine Co. 2nd 1/3 doen payment 7376 38,157.90
11/4/97 Xxxxxxx Machine Co. 2nd 1/3 down payment RS 200 7378 24,438.15
11/14/97 DCI 30% down payment 50 gallon round vertical single shell
portable tank 7433 6,490.50
11/11//97Dell Direct dell P6233 w/2MB video memory, audio, win95, spacesaver (9) 7432 30,336.63
10/28/97 Hewlett Packard high performance HP-IB interface 7339 10,950.00
10/28/97 Hewlett-Packard HP 5890A to series II upgrade kit 7260 3,060.00
11/4/97 MacWarehouse MON sony 200SF 17" (3) 7494 2,406.57
11/23/97 MacWarehouse PRN apple laserwriter 8500 7654 2,521.74
10/31/97 OnGard Sterilization deposit on 20x20x38 sterilizer 7277 28,968.00
10/31/97 Xxxxxxx instruments PRD 30110 TOC online instrument, acid reservoir, persulphat 7262 19,800.00
10/30/97 Xxxxxx Co down payment insolator system 7341 64,873.80
12/5/97 AAA Computer HPV Si 7821 2,832.72
12/29/97 AAA Computer HPV Si 7921 2,832.57
12/22/97 Xxxx-Xxxxxx Instruments mixer 90-1600RPM 8084 1,994.62
12/18/97 Xxxxxxx Machine 1/3 down payment 7983 7,598.67
11/26/97 Xxxxxxx Machine unscrambler transfer 7995 3,696.53
EXHIBIT 2
1998 LOAN COLLATERAL
ALKERMES/ACTII FIXED ASSET LIST
Date of Less Less Total
Purchase Company Description Freight/Other Sales Tax Invoice
------------------------------------------------------------------------------------------------------------------------------------
ALKERMES EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
7/15/97 The Xxxxxxxxxxx Company Model J code W-17-J Homoloid machine 30% down 0.00 0.00 3,666.00
8/25/97 Dell Dell 6200/OP GXpro, w/pentium Pro 200Mhz/256K 100.00 163.98 2,633.00
8/28/97 VWR Scientific PLYTRN/PT homggenizer 110V 0.00 0.00 1,276.22
8/22/97 XLSource scanjet 5 ethernet 100-TX 110.02 161.34 2,689.00
8/30/97 AMC Computers Thinkpad 760xl P-166 MMX 2.1 GB 32MB 12.1 0.00 0.00 8,190.00
8/29/97 AMC Computers Thinkpad 560E P-150 MMX 2.1 GB 16MB 11.3 90.00 0.00 20,440.00
9/30/97 AMC Computers HP 17in 1280x1024 VGA display 25.00 0.00 8,276.00
9/24/97 Cozzoli Invoicing for 1/3 down payment provide parts 7 xxxxx
upgradegw24 vial 0.00 0.00 3,557.00
9/23/97 Dell P6233, cache, win95, microsoft, intellimouse 1,262.88 330.00 20,718.00
10/15/97 Xxxxxxxxxxx Co w-17-J homoloid Xxxxxxxxxxx comminuting machine 340.80 0.00 1,222.00
9/3/97 Mac Warehouse Deluxe jaz kit-jaz ext, 3 addt'l carts, jazz
carring case, 1 Omega jaz 1gb cartrige 3.5"
single pc for omnipage pro V7.0 f/win95 (CD- ROM) 0.00 0.00 1,923.68
9/4/97 Mac Warehouse Monitor (Sony) 17" 1280 x 1024 75hz Max 0.00 91.80 1,530.00
9/17/97 SaniFab Installation of 3 Tank Access Platforms 0.00 0.00 20,141.10
9/12/97 The Xxxxxxxxxxx Company Homoloid Machine Serial #.1509 0.00 0.00 7,332.00
9/30/97 Vankel VK 7000 8 spindle , 000, Xxxxxx 00", Xxxxxx clear glass 140.76 0.00 10,115.60
11/17/97 Alloy Piping Supply transmitter 115vac, bottom sensor 10' cable, top
sensor 15' cable 16.66 220.72 4,013.00
10/21/97 AMC Computer VGA display 10.00 0.00 1,270.00
11/12/97 AMC Computer jet PC card, thinkpad, battery II, CD-ROM 10.00 0.00 5,720.00
11/19/97 Xxxxxxx Scale portable plataform scale 37.80 0.00 1,235.00
11/4/97 Xxxxxxx Machine Co 1/3 down payment, capping machine, reject system,
spare cap head 0.00 0.00 31,473.08
11/4/97 Xxxxxxx Machine Co 33% down payment for engineering 0.00 0.00 11,188.88
11/4/97 Xxxxxxx Machine Co 2nd 1/3 down payment upgrade GW24 0.00 0.00 3,557.00
11/4/97 Xxxxxxx Machine Co 1/3 down payment for unscrambler table & accessories 0.00 0.00 20,111.52
11/4/97 Xxxxxxx Machine Co. 1/3 down payment 0.00 0.00 2,800.38
00/0/00 Xxxxxxx Xxxxxxx Xx. 0xx 1/3 doen payment 0.00 0.00 38,157.90
11/4/97 Xxxxxxx Machine Co. 2nd 1/3 down payment RS 200 0.00 0.00 24,438.15
11/14/97 DCI 30% down payment 50 gallon round vertical single shell
portable tank 0.00 0.00 6,490.50
11/11//97Dell Direct dell P6233 w/2MB video memory, audio, win95, spacesaver (9) 495.00 1,717.17 28,124.46
10/28/97 Hewlett Packard high performance HP-IB interface 1,440.00 0.00 9,510.00
10/28/97 Hewlett-Packard HP 5890A to series II upgrade kit 0.00 0.00 3,060.00
11/4/97 MacWarehouse MON sony 200SF 17" (3) 183.75 125.82 2,097.00
11/23/97 MacWarehouse PRN apple laserwriter 8500 0.00 142.74 2,379.00
10/31/97 OnGard Sterilization deposit on 20x20x38 sterilizer 0.00 0.00 28,968.00
10/31/97 Xxxxxxx instruments PRD 30110 TOC online instrument, acid reservoir, persulphat 0.00 0.00 19,800.00
10/30/97 Xxxxxx Co down payment insolator system 0.00 0.00 64,873.80
12/5/97 AAA Computer HPV Si 280.72 0.00 2,552.00
12/29/97 AAA Computer HPV Si 280.57 0.00 2,552.00
12/22/97 Xxxx-Xxxxxx Instruments mixer 90-1600RPM 13.62 0.00 1,981.00
12/18/97 Xxxxxxx Machine 1/3 down payment 0.00 0.00 7,598.67
11/26/97 Xxxxxxx Machine unscrambler transfer 0.00 0.00 3,696.53
Page 7
19
EXHIBIT 2
1998 LOAN COLLATERAL
ALKERMES/ACTII FIXED ASSET LIST
Date of Total
Purchase Company Description Ref # Invoice
------------------------------------------------------------------------------------------------------------------------------------
ALKERMES EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
11/26/97 Xxxxxxx Machine power filler c/w make up & back up 7996 50,279.46
11/26/97 Xxxxxxx Machine automatic stoppering machine 7997 24,851.93
11/26/97 Xxxxxxx Machine continuous rotary crimper, reset system 7998 34,933.06
11/26/97 Xxxxxxx Machine automatic tray loader 7999 20,696.80
12/30/97 Xxxxxxx Machine continuous rotary crimper, reset system 8095 620.00
12/30/97 Xxxxxxx Machine powder filler make up and back up 8096 2,536.00
12/30/97 DCI, Inc 50 gallon round vertical single 7975 15,144.50
12/4/97 Ink Jet Printing printer w/software & accs. 7800 14,006.69
12/1/97 Office Depot fellows shredder 7759 1,901.64
12/26/97 Unitek Miyachi thermocouple welder, wire clamp 7990 3,152.11
12/26/97 Unitek Miyachi thermocouple welder, wire clamp 8078 3,140.00
12/5/97 AAA Computer Products jet printer 8167 2,832.62
12/5/97 AAA Computer Products jet printer 8215 2,832.57
1/29/98 Auger Fabrication horizontal screw conveyor PD1065 8390 8,990.50
1/30/98 Xxxxxxx Machine Co. power filler c/w make up back up controls 8626 1,031.08
1/23/98 Xxxxxxx Machine Co. 1/3 down payment 8329 7,598.66
1/28/98 Xxxxxxx Machine Co. unscramle transfer Cozzali model UT36 8333 1,787.57
12/30/97 DCI, Inc. 50 gallon round vertical single shell portable tank 7992 960.00
1/28/98 X.X. XxXxxx Equipment purchase - See Attachment I JE 750,000.00
1/21/98 Entex (8) CQ-compaq, (2) arcserver 8607 13,067.09
1/21/98 Entex CQ-Compaq 8611 2,334.55
1/29/98 Entex CQ-Compaq 8625 1,264.74
1/22/98 Kason Corporation Kason Centri-Sifter 8279 12,224.00
11/24/97 Kason Corporation 40% down payment 8293 21,952.00
1/19/98 LCI Corporation drive shaft, bearing 8529 3,712.00
1/21/98 SWECO, Inc. PH46 unit 216L ss clean Rm, MTD pharmasep scrn, 8610 193,299.20
1/8/98 Xxxxxx Stainless Equipment retrofit isolator 8099 3,795.00
1/6/98 Xxxxxx Stainless Equipment 30% down payment 8431 25,500.00
1/23/98 Xxxxxx Stainless Equipment mock up 8531 4,000.00
2/18/98 AMC Computer Corporation thinkpad computer 8644 4,780.00
2/13/98 Cad One, Inc. hp computer 8694 7,576.60
2/6/98 Xxxxxxx Corporation micro volume module 8493 5,500.00
-------------
TOTAL ACTII 1,892,278.89
-------------
TOTAL ALKERMES AND ACTII 3,864,243.04
=============
EXHIBIT 2
1998 LOAN COLLATERAL
ALKERMES/ACTII FIXED ASSET LIST
Date of Less Less Total
Purchase Company Description Freight/Other Sales Tax Invoice
------------------------------------------------------------------------------------------------------------------------------------
ALKERMES EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
11/26/97 Xxxxxxx Machine power filler c/w make up & back up 0.00 0.00 50,279.46
11/26/97 Xxxxxxx Machine automatic stoppering machine 0.00 0.00 24,851.93
11/26/97 Xxxxxxx Machine continuous rotary crimper, reset system 0.00 0.00 34,933.06
11/26/97 Xxxxxxx Machine automatic tray loader 0.00 0.00 20,696.80
12/30/97 Xxxxxxx Machine continuous rotary crimper, reset system 0.00 0.00 620.00
12/30/97 Xxxxxxx Machine powder filler make up and back up 0.00 0.00 2,536.00
12/30/97 DCI, Inc 50 gallon round vertical single 0.00 0.00 15,144.50
12/4/97 Ink Jet Printing printer w/software & accs. 633.69 0.00 13,373.00
12/1/97 Office Depot fellows shredder 0.00 107.64 1,794.00
12/26/97 Unitek Miyachi thermocouple welder, wire clamp 12.11 0.00 3,140.00
12/26/97 Unitek Miyachi thermocouple welder, wire clamp 0.00 0.00 3,140.00
12/5/97 AAA Computer Products jet printer 280.62 0.00 2,552.00
12/5/97 AAA Computer Products jet printer 280.57 0.00 2,552.00
1/29/98 Auger Fabrication horizontal screw conveyor PD1065 6.90 0.00 8,983.60
1/30/98 Xxxxxxx Machine Co. power filler c/w make up back up controls 4.08 0.00 1,027.00
1/23/98 Xxxxxxx Machine Co. 1/3 down payment 0.00 0.00 7,598.66
1/28/98 Xxxxxxx Machine Co. unscramle transfer Cozzali model UT36 0.00 0.00 1,787.57
12/30/97 DCI, Inc. 50 gallon round vertical single shell portable tank 0.00 0.00 960.00
1/28/98 X.X. XxXxxx Equipment purchase - See Attachment I 0.00 0.00 750,000.00
1/21/98 Entex (8) CQ-compaq, (2) arcserver 255.39 731.70 12,080.00
1/21/98 Entex CQ-Compaq 27.99 130.56 2,176.00
1/29/98 Entex CQ-Compaq 13.94 70.80 1,180.00
1/22/98 Kason Corporation Kason Centri-Sifter 0.00 0.00 12,224.00
11/24/97 Kason Corporation 40% down payment 0.00 0.00 21,952.00
1/19/98 LCI Corporation drive shaft, bearing 250.00 0.00 3,462.00
1/21/98 SWECO, Inc. PH46 unit 216L ss clean Rm, MTD pharmasep scrn, 0.00 0.00 193,299.20
1/8/98 Xxxxxx Stainless Equipment retrofit isolator 0.00 0.00 3,795.00
1/6/98 Xxxxxx Stainless Equipment 30% down payment 0.00 0.00 25,500.00
1/23/98 Xxxxxx Stainless Equipment mock up 0.00 0.00 4,000.00
2/18/98 AMC Computer Corporation thinkpad computer 5.00 0.00 4,775.00
2/13/98 Cad One, Inc. hp computer 0.00 462.42 7,114.18
2/6/98 Xxxxxxx Corporation micro volume module 0.00 0.00 5,500.00
----------------------------------
TOTAL ACTII 6,856.53 4,456.69 1,880,965.67
----------------------------------
TOTAL ALKERMES AND ACTII 22,054.49 11,374.18 3,830,814.37
==================================
Page 8
20
EXHIBIT 2
1998 LOAN COLLATERAL-ADDENDUM
ALKERMES/ACTII FIXED ASSET LIST
Date of Total Less Less Total
Purchase Company Description Ref # Invoice Freight/Other Sales Tax Invoice
------------------------------------------------------------------------------------------------------------------------------------
ALKERMES EQUIPMENT
FY1998 (APRIL 1997-MARCH 1998)
2/2/98 Molecular Devices spectramax 250, softmax pro, power cord 166913 18,605.00 105.00 0.00 18,500.00
2/26/98 Sassafras Software key server 5.0.5 168052 5,842.00 1,313.00 0.00 4,529.00
3/13/98 Xxxxxx Corporation LN2 separator filter w/level posrt 168095 2,675.00 0.00 0.00 2,675.00
3/10/98 Dell dell computer 168134 1,857.15 55.00 0.00 1,802.15
3/24/98 Dell (2) dell computers 168934 8,019.12 110.00 0.00 7,909.12
3/24/98 Dell (5) computer monitors 168935 1,494.05 14.00 0.00 1,480.05
3/25/98 Dell dell computer 168936 2,141.43 55.00 0.00 2,086.43
0/00/00 Xxxx 0 Xxxx X0000 168933 3,714.30 110.00 0.00 3,604.30
3/19/98 Xxxxxx Scientific centrifuge MDL 168781 2,298.36 131.50 0.00 2,166.86
3/11/98 MacWarehouse powerbook 168100 5,418.95 19.95 0.00 5,399.00
3/18/98 MacWarehouse powerbook 168479 5,418.95 19.95 0.00 5,399.00
3/6/98 Micro Center (3) apple printers 168105 7,871.88 0.00 374.85 7,497.03
3/11/98 Micro Center (3) apple printers 168110 8,185.83 0.00 389.80 7,796.03
3/12/98 Osmonics pump, motor, assy for electric 168112 2,916.81 6.81 0.00 2,910.00
---------------------------------------------
TOTAL ALKERMES 76,458.83 1,940.21 764.65 73,753.97
---------------------------------------------
ACT II EQUIPMENT
2/23/98 AMC Computer Corporation thinkpad computer 8770 12,070.00 0.00 0.00 12,070.00
2/23/98 Xxxxxxx Machine Co parts for pf8-141 8676 7,719.17 120.17 0.00 7,599.00
2/26/98 Polymer Laboratories evaporative mass detector 8937 13,535.00 85.00 0.00 13,450.00
2/13/98 Spirax Sarco, Inc. ultrasonic leak detector 8829 2,930.06 4.46 0.00 2,925.60
2/20/98 AAA Computer Products printer 8953 6,704.18 664.38 0.00 6,039.80
2/20/98 AAA Computer Products printer 9130 6,704.08 664.28 0.00 6,039.80
2/20/98 AAA Computer Products printer 9129 6,704.13 664.33 0.00 6,039.80
2/26/98 Dell (6) dell computers 8892 17,157.11 330.00 971.15 15,855.96
3/19/98 Koflo Corp (2) static in-line mixers 9254 3,410.36 18.36 0.00 3,392.00
3/3/98 Xxxxxxx Technologies mobile rack & (2) transfer trollies 9065 22,150.00 0.00 0.00 22,150.00
Inc.
---------------------------------------------
TOTAL ACTII 99,084.09 2,550.98 971.15 95,561.96
---------------------------------------------
TOTAL ALKERMES AND ACTII 175,542.92 4,491.19 1,735.80 169,315.93
==============================================
Page 1
21
SUPPLEMENTAL DISCLOSURE SCHEDULE
ITEM 2.1(a)(i)
Jurisdictions In Which Each Borrower Is
Qualified As a Foreign Corporation
ALKERMES, INC.:
Massachusetts
Ohio
ALKERMES CONTROLLED THERAPEUTICS, INC.:
Massachusetts
ALKERMES CONTROLLED THERAPEUTICS INC. II:
Ohio
22
ITEM 2.1(a)(ii)
Subsidiaries, Partnerships and Joint Ventures
SUBSIDIARIES
ALKERMES, INC.
Alkermes Controlled Therapeutics, Inc., a
Pennsylvania corporation
Alkermes Development Corporation II, a
Delaware corporation ("ADC II").(1)
Alkermes Europe Ltd., a corporation incorporated
under the laws of the United Kingdom
Alkermes Investments, Inc., a Delaware corporation ("AII")
Alkermes Controlled Therapeutics Inc. II, a
Pennsylvania corporation
ALKERMES CONTROLLED THERAPEUTICS, INC.
None
ALKERMES CONTROLLED THERAPEUTICS INC. II
None
PARTNERSHIPS
ALKERMES, INC.
Alkermes Clinical Partners, L.P., a Delaware limited partnership. ADC II is the
general partner of this partnership.
ALKERMES CONTROLLED THERAPEUTICS, INC.
None
ALKERMES CONTROLLED THERAPEUTICS INC. II
None
JOINT VENTURES
None
--------
(1) Although ADC II is a wholly owned subsidiary of the Borrower, PaineWebber
Development Corporation has the right to nominate at least half of the
members of ADC II's board of directors until certain events occur.
23
ITEM 2.1(b)
5 Percent Beneficial Owners
(Information as of February 12, 1998)
Number of
Shares % of
Beneficially Common Stock
Name Owned Owned
---- ------------ ------------
ALZA Corporation 2,000,000 9.55%
000 Xxxx Xxxx Xxxx
Xxxx Xxxx, XX 00000
Amerindo Investment Advisors Inc. 2,465,000 11.77%
Xxx Xxxxxxxxxxx, Xxx. 0000
Xxx Xxxxxxxxx, XX 00000 (1)
FMR Corp. 1,142,800 5.46%
00 Xxxxxxxxxx Xxxxxx
Xxxxxx, XX 00000 (2)
(1) Amerindo Investment Advisors Inc. holds these shares in its capacity as
investment advisor for various fiduciary accounts.
(2) A portion of these shares are held by FMR Corp. or its related entities
as investment advisor for various fiduciary accounts.
24
ITEM 2.1(e)
Pending Litigation
None
25
ITEM 2.1(j)
Location of Books, Records and Assets
Certain of each Borrowers' corporate books and records, including its
minute books, are located at the offices of Xxxxxxx Xxxxx Xxxxxxx & Xxxxxxxxx,
LLP, 0000 Xxxxxx Xxxxxx, 00xx Xxxxx, Xxxxxxxxxxxx, XX 00000.
In addition, certain of Alkermes, Inc.'s corporate books, records and
assets relating to its European operations are located at the offices of
Alkermes Europe Ltd. in Cambridge, England.
In addition, certain of Alkermes, Inc.'s corporate books, records and
assets relating to AII are located at the offices of AII in Xxxxxxxxxx, Xxxxxxxx
00000.
In addition, certain of Alkermes, Inc.'s stock records are located at the
offices of its transfer agent, BankBoston, N.A.
26
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.
15. Lease, dated as of July 26, 1993, between the Massachusetts Institute of
Technology and Alkermes, Inc.
16. Product Development Agreement, dated as of March 6, 1992, between Alkermes
Clinical Partners, L.P. and Alkermes, Inc.
17. Purchase Agreement, dated as of March 6, 1992, by and among Alkermes, Inc.
and each of the Limited Partners, from time
27
to time, of Alkermes Clinical Partners, L.P.
18. 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.
19. Class A Note of Alkermes Development Corporation II, dated April 10, 1992,
to PaineWebber Development Corporation in the amount of $100.00.
20. License Agreement, dated February 5, 1990, between Enzytech, Inc. and
Massachusetts Institute of Technology.
21. 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.
22. Prepaid Royalty Agreement dated July 26, 1995 between Alkermes Controlled
Therapeutics, Inc. and Schering Corporation.
23. Collaborative Development Agreement dated as of January 9, 1995 between
Alkermes Controlled Therapeutics, Inc. and Genentech, Inc.
24. Note Purchase Agreement, dated as of January 9, 1995, by and between
Alkermes, Inc. and Genentech, Inc.
25. License Agreement, dated as of November 13, 1996 by and between Genentech,
Inc. and Alkermes Controlled Therapeutics, Inc.
26. Convertible Promissory Note of Alkermes, Inc. dated January 31, 1995.
27. Clinical Collaboration and Option Agreement, dated as of September 30,
1997, between ALZA Corporation and Alkermes, Inc.
28. 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, as further amended by the Second Amendment to
Development Agreement, dated as of April 28.
29. License Agreement, dated as of February 13, 1996, between Medisorb
Technologies International L.P. and Xxxxxxx
00
Xxxxxxxxxxxxx Xxxxxxxxxxxxx (Xxxxxx Xxxxxx).
30. License Agreement, dated as of February 21, 1996, between Medisorb
Technologies International L.P. and Xxxxxxx Pharmaceutica International
(worldwide except United States).
31. 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.
32. 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, Inc.
33. Development and License Agreement, dated as of January 19, 1998, by and
between The X.X. Xxxxxxx Pharmaceutical Research Institute, Alkermes, Inc.
and Alkermes Controlled Therapeutics, Inc.
34. Supply and License Agreement, dated as of January 19, 1998, by and between
The X.X. Xxxxxxx Pharmaceutical Research Institute, Xxxxxxx Pharmaceutical
International and Alkermes Controlled Therapeutics, Inc.
35. Letter Agreement, dated September 27, 1996, between Fleet National Bank and
Alkermes, Inc., Alkermes Controlled Therapeutics, Inc. and Alkermes
Controlled Therapeutice Inc. II.
36. Security Agreement, dated as of September 27, 1996, from Alkermes, Inc.,
Alkermes Controlled Therapeutics, Inc. and Alkermes Controlled Therapeutic
Inc. II to Fleet National Bank.
37. Pledge Agreement, dated as of September 27, 1996, from Alkermes, Inc. to
Fleet National Bank.
38. Mortgage and Security Agreement, dated as of September 27, 1996, from
Alkermes Controlled Therapeutics Inc. II to Fleet National Bank.
39. Environmental Indemnity Agreement, dated as of September 27, 1996, from
Alkermes, Inc. and Alkermes Controlled Therapeutics Inc. II to Fleet
National Bank.
40. 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.
29
41. 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.
42. Promissory Note, dated September 27, 1996, from Alkermes, Inc. and Alkermes
Controlled Therapeutics Inc. II to Fleet National Bank.
43. Promissory Note of Alkermes, Inc., Alkermes Controlled Therapeutics, Inc.
and Alkermes Controlled Therapeutics Inc. II, dated June 2, 1997, to Fleet
National Bank.
44. 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.
45. Loan Supplement and Modification Agreement, dated June 2, 1997, among
Alkermes, Inc., Alkermes Controlled Therapeutics, Inc., Alkermes Controlled
Therapeutics Inc. II and Fleet National Bank.
46. Second Amended and Restated Note, dated July 26, 1996, by Alkermes, Inc.
and Alkermes Investments, Inc. to The Sumitomo Bank, Limited.
47. Employment Agreement, entered into as of February 7, 1991, between Xxxxxxx
X. Pops and Alkermes, Inc.
48. Employment Agreement, entered into as of June 13, 1994, by and between
Xxxxxx X. Xxxxxx and Alkermes, Inc.
30
ITEM 4.1
Existing Indebtedness
ALKERMES, INC.
1. Indebtedness which may be incurred as the result of any transaction
contemplated by Section 7.1 of the Letter Agreement.
2. Note, dated December 30, 1993, to The Daiwa Bank, Limited.
3. Note, dated December 29, 1995, to The Daiwa Bank, Limited.
4. Note Purchase Agreement, dated as of January 9, 1995, by and between
Alkermes, Inc. and Genentech, Inc.
ALKERMES CONTROLLED THERAPEUTICS, INC.
None
ALKERMES CONTROLLED THERAPEUTICS INC. II
None
31
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.
