Exhibit (10)(10)
August 15, 1997
MEDICAL STERILIZATION INC.,
000 Xxxxxxxxx Xxxx.
Xxxxxxx XX 00000
Re: Financing Agreement
Dated: October 17, 1994
It is mutually agreed that the above mentioned agreement between us shall be
amended as hereinafter provided:
The Margin specified in the first sentence of Paragraph 3.1 is hereby amended to
read, the Prime Rate plus two percent (2%) per annum.
Paragraph 3.2 is hereby amended to read as follows:
3.2 For the contract year beginning February 1, 1998, and yearly
thereafter, Borrower shall pay to Lender an annual facility fee in the amount of
$10,000.00 in the aggregate for each contract year, payable in arrears in
monthly installments of $833.33 per month. For the period from October 1, 1997
until January 31, 1998 the monthly installments shall be 833.33 per month,
payable in arrears.
The number of days referred to in paragraph 5.1 for the collection and clearance
of remittances is hereby amended to read three (3) Business days.
The renewal date specified in the first sentence of Paragraph 9.1 is hereby
amended to read, January 31, 2000.
The foregoing amendment shall be effective as of October 1, 1997. In all other
respects the terms and conditions of the aforesaid agreement, as the same may
have heretofore been amended shall remain unchanged.
XXXXXXXXX & XXXXXXXXX, INC.
By: /s/ Xxxxxxx Xxxx
------------------------
Xxxxxxx Xxxx
Vice President
THE FOREGOING IS ACKNOWLEDGED
& AGREED TO:
MEDICAL STERILIZATION, INC.
By: /s/ D. Xxxxxxx Xxxxxxx
------------------------
D. Xxxxxxx Xxxxxxx
President and CEO
Exhibit (10)(10)
August 15, 1997
MEDICAL STERILIZATION INC.,
000 Xxxxxxxxx Xxxx.
Xxxxxxx XX 00000
Re: Financing Agreement
Dated: October 17, 1994
It is mutually agreed that the above mentioned agreement between us shall be
amended as hereinafter provided:
The rate of advance specified in Paragraph 2.1 is hereby amended to read, eighty
five percent (85%).
The foregoing amendment shall be effective as of August 15, 1997. In all other
respects the terms and conditions of the aforesaid agreement, as the same may
have heretofore been amended shall remain unchanged.
XXXXXXXXX & XXXXXXXXX, INC.
By: /s/ Xxxxxxx Xxxx
------------------------
Xxxxxxx Xxxx
Vice President
THE FOREGOING IS ACKNOWLEDGED
& AGREED TO:
MEDICAL STERILIZATION, INC.
By: /s/ D. Xxxxxxx Xxxxxxx
------------------------
D. Xxxxxxx Xxxxxxx
President and CEO
