FIRST AMENDMENT TO SUBORDINATED REVOLVING LINE OF CREDIT AGREEMENT
Exhibit
10.1
Exhibit
10.1
FIRST
AMENDMENT TO
SUBORDINATED
REVOLVING LINE OF CREDIT AGREEMENT
THIS
FIRST AMENDMENT TO SUBORDINATED REVOLVING LINE OF CREDIT
AGREEMENT
(this
“Amendment”)
is
made and effective as of August 11, 2007, by and between ECHO
HEALTHCARE ACQUISITION CORP.,
a
Delaware corporation (the “Borrower”),
and
the individuals and entities set forth on Schedule A (the “Lenders”)
of the
Credit Agreement (as defined herein).
RECITALS
A. The
Borrower and the Lenders are parties to that certain Subordinated Revolving
Line
of Credit Agreement, dated as of March 22, 2006 (the “Credit
Agreement”).
B. The
Borrower and the Lenders have agreed to amend the Credit Agreement upon the
terms and conditions set forth in this Amendment.
STATEMENT
OF AGREEMENT
NOW,
THEREFORE,
for and
in consideration of the premises, the mutual covenants herein contained,
and
other good and valuable consideration, the receipt, adequacy and sufficiency
of
which is hereby acknowledged, the Purchaser and the Sellers hereby agree
as
follows:
1. Section
1.2.4 of the Credit Agreement is hereby deleted in its entirety and replaced
with the following:
March
22,
2008, provided that Borrower may request advances after that date solely
to pay
reasonable costs and expenses in connection with liquidation of Borrower;
2. Agreement
Ratified.
Except
as modified by this Amendment, the Borrower and the Lenders do hereby ratify
and
reaffirm each and every provision of the Credit Agreement. The Credit Agreement
shall remain in full force and effect in accordance with its terms, as modified
by this Amendment. This Amendment shall bind and inure to the benefit of
the
Borrower and the Lenders and their respective successors and permitted assigns
under the Credit Agreement.
3. Defined
Terms.
All
defined terms used herein and not separately defined herein shall have the
meaning set forth in the Credit Agreement.
4. Governing
Law.
This
Amendment shall be construed and interpreted under the laws of the State
of
Delaware.
5. Counterparts;
Facsimile Signatures.
This
Amendment may be executed in any number of counterparts, each of which when
executed shall be deemed to be an original and all of which counterparts
taken
together shall constitute but one and the same instrument. The parties agree
that facsimile signatures shall be sufficient to bind them hereto.
IN
WITNESS WHEREOF, each of the parties hereto has caused this Amendment to
be
executed on this 11th day, of August, 2007.
Borrower:
By:
/s/
Xxxxx Xxxxxxxxxx
Xxxxx
Xxxxxxxxxx, Chief Financial Officer
Lenders:
/s/
Xxxxxxx X. Xxxxxx
Xxxxxxx
X. Xxxxxx, Ph.D.
/s/
Xxxx X. Xxxxxxxx
Xxxx
X. Xxxxxxxx
Chicago
Investments, Inc.
By:
/s/
Xxxx X. Xxxxxx
Xxxx
X. Xxxxxx, President
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