May 16, 2008
May
16,
2008
Via
Federal Express
Attention:
Xxxxx Xxxxxx
JPMorgan
Chase Bank, N.A.
Escrow
Services
000
Xxxxx
Xxxxx Xxxxxx, 00xx
Floor
Los
Angeles, CA 90065
|
Re:
|
Joint
Escrow Instructions re Escrow
Agreement (“Escrow Agreement”) by and among Diametrics Medical, Inc., the
Members and JPMorgan Chase Bank, N.A. dated as of September 20,
2006
|
Ladies
and Gentlemen:
On
February 22, 2008 Allegro Biodiesel Corporation (fka Diametrics Medical,
Inc.,
“Allegro”) submitted to you a demand for release from the escrow created by the
Escrow Agreement of $47,448.49
relating
to amounts due to the Internal Revenue Service as a civil penalty for the
tax
period ending December 31, 2004. Capitalized terms used herein without
definition have the meaning ascribed thereto under the Escrow
Agreement.
This
claim on the escrow has now been settled by Allegro and the Member
Representative, on behalf of the Members, and the parties have agreed to
release
the entire sum of $47,448.49
to
Allegro. Accordingly, you are hereby instructed to release to Allegro from
the
escrow under the Escrow Agreement the sum of $47,448.49.
It is
requested that these funds be released as promptly as possible.
Wire
Instructions:
Account
Holder: Allegro Biodiesel Corporation
Swift:
BOFAUS3N
ABA
Routing: 000000000
Account#:
09145-41651
Very
truly yours,
|
ALLEGRO
BIODIESEL CORPORATION
By:
/s/
X. Xxxxx Xxxxx XXX
X.
Xxxxx Xxxxx III
Title:
CEO
|
/s/
Xxxxxxx Xxxxxx
XXXXXXX
XXXXXX,
as
Member Representative
|
