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EXHIBIT 10.11
AMENDMENT TO
MASTER NOTE FOR LINE OF CREDIT
This Amendment to Master Note for Line of Credit (the "Amendment") is entered
into to be effective as of February 1, 2000, by and between Northwest
Biotherapeutics Inc. ("Borrower") and Northwest Hospital ("Lender").
RECITALS
Borrower and Lender are parties to that certain Master Note For Line of
Credit dated as of July 1, 1997, as amended from time to time (the "Agreement").
The parties desire to amend the Agreement in accordance with the terms of this
Amendment.
NOW, THEREFORE, the parties agree as follows:
1. Section 2 of the Agreement is hereby amended and restated in its entirety
as follows:
"2. PAYMENTS. This Note shall be repaid in full upon the earlier of (a)
June 30, 2001, (b) consummation of an initial public offering of the
Borrower's Common Stock registered under the Securities Act of 1933, as
amended, or (c) consummation of (i) a merger or consolidation of Borrower
with or into another entity or any other corporate reorganization, if more
than 50% of the combined voting power of the continuing or surviving
entity's securities outstanding immediately after such merger,
consolidation or other reorganization is owned by persons who were not
stockholders of Borrower immediately prior to such merger, consolidation
or other reorganization or (if) the sale, transfer or other disposition of
all or substantially all of Borrower's assets."
IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the
first date above written.
NORTHWEST BIOTHERAPEUTICS INC.
By:
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Name: Xxxxxx X. Xxxxx
Title: President and CEO
NORTHWEST HOSPITAL
By:
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Name: Xxxx Xxx
Title: V.P. Corp. Affairs
