SECOND AMENDMENT TO SECURED SUBORDINATED PROMISSORY NOTE DATED AS OF JUNE 3, 2004
Exhibit 10.43
SECOND AMENDMENT
TO
SECURED SUBORDINATED PROMISSORY NOTE
TO
SECURED SUBORDINATED PROMISSORY NOTE
DATED
AS OF JUNE 3, 2004
This Second Amendment is made as of the 2nd day of August, 2005, by and among Virbac
Corporation, a Delaware corporation, PM Resources, Inc., a Missouri corporation, St. Xxx
Laboratories, Inc., a California corporation, Francodex Laboratories, Inc., a Kansas corporation,
Delmarva Laboratories, Inc., a Virginia corporation and Virbac AH, Inc., Delaware corporation
(collectively, the “Borrowers”), and Virbac S A., a company organized under the laws of the
Republic of France (the “Holder”) (capitalized terms used but not defined herein shall have the
meanings ascribed to such terms in that certain Secured Subordinated Promissory Note, dated June
3, 2004, in the original principal amount of $2,000,000.00 by and between the Borrowers and the
Holder (as amended, modified or restated from time to time, the “Note”)).
WHEREAS, the parties hereto desire to amend the Note as set form herein; and
NOW, THEREFORE, for and in consideration of the premises and me mutual covenants and
agreements set forth herein and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged by each of the parties hereto, the parties hereto hereby agree as
follows:
1. The Note is hereby amended in the following respects:
a. The Maturity Date of the Note is hereby changed to April 9,
2006. All sums owing under the Note shall be due and payable no later than
this
Maturity Date, and such date shall not be extended, except by written
agreement
of the Holder and Borrowers.
b. The Base Rate of the Note is hereby changed to 5% per annum.
2. Except as provided for in this Second Amendment, the Note, as
amended, shall remain in full force and effect and is hereby reaffirmed
3. This Amendment shall be interpreted, construed and enforced in
accordance with the laws of the State of Delaware.
Remainder of Page Intentionally Left Blank.
Signature Page Follows.
Signature Page Follows.
IN WITNESS WHEREOF, the undersigned have executed this Amendment effective as of the
date first written above.
BORROWERS: | ||||
VIRBAC CORPORATION | ||||
a Delaware corporation | ||||
By: | /s/ Xxxx X. Xxxxxx | |||
Name: | Xxxx X. Xxxxxx | |||
Title: | Executive Vice President and Chief | |||
Financial Officer | ||||
PM RESOURCES, INC. | ||||
a Missouri corporation | ||||
By: | /s/ Xxxx X. Xxxxxx | |||
Name: | Xxxx X. Xxxxxx | |||
Title: | Executive Vice President and Chief | |||
Financial Officer | ||||
ST. XXX LABORATORIES, INC. | ||||
a California corporation | ||||
By: | /s/ Xxxx X. Xxxxxx | |||
Name: | Xxxx X. Xxxxxx | |||
Title: | Executive Vice President and Chief | |||
Financial Officer | ||||
FRANCODEX LABORATORIES, INC. | ||||
a Kansas corporation | ||||
By: | /s/ Xxxx X. Xxxxxx | |||
Name: | Xxxx X. Xxxxxx | |||
Title: | Executive Vice President and Chief | |||
Financial Officer |
DELMARVA LABORATORIES, INC. | ||||
a Virginia corporation | ||||
By: | /s/ Xxxx X. Xxxxxx | |||
Name: | Xxxx X. Xxxxxx | |||
Title: | Executive Vice President and Chief | |||
Financial Officer | ||||
VIRBAC AH, INC. | ||||
a Delaware corporation | ||||
By: | /s/ Xxxx X. Xxxxxx | |||
Name: | Xxxx X. Xxxxxx | |||
Title: | Executive Vice President and Chief | |||
Financial Officer | ||||
HOLDER: | ||||
VIRBAC S.A. | ||||
a company organized under the laws of the | ||||
Republic of France | ||||
By: | /s/ Xxxx Xxxxx | |||
Name: | Xxxx Xxxxx | |||
Title: | President of the Management Board |