AMENDMENT THREE TO EQUIPMENT LEASE AGREEMENT
Exhibit
10.23c
AMENDMENT
THREE TO EQUIPMENT LEASE AGREEMENT
This
AMENDMENT THREE TO EQUIPMENT LEASE AGREEMENT (this "Amendment Three") is made
effective as of the 11 day of June, 2010, and is entered into by and between (i)
the BOARD OF TRUSTEES OF THE
UNIVERSITY OF ARKANSAS on behalf of THE UNIVERSITY OF ARKANSAS FOR MEDICAL
SCIENCES ("Hospital"), and (ii) GK FINANCING, LLC, a
California limited liability company ("GKF”).
WHEREAS,
GKF and Hospital executed an Equipment Lease Agreement dated October 29th, 1998,
as amended by (i) a certain Amendment to Equipment Lease Agreement dated
effective as of September 15,
2005, and (ii) a certain Amendment Two to Equipment Lease Agreement
(“Amendment Two”) dated effective as of October 31 2007 (as amended the
“Lease”), and desire to further amend the Lease as set forth
herein.
NOW
THEREFORE, for valuable consideration received, the receipt and sufficiency of
which are acknowledged, the parties agree as follows:
1. Defined Terms. Unless
otherwise defined herein, the capitalized terms used herein shall have the same
meanings set forth in the Lease.
2. Extension of Lease
Term. It is acknowledged that the performance of Gamma Knife
procedures at the Hospital was interrupted for a period of approximately one (1)
year due to the shortage or absence of certain professional, technical and/or
support personnel who are required pursuant to the Lease for the proper
performance of Gamma Knife procedures utilizing the Equipment, but which
situation has now been corrected. In view of such interruption of
Gamma Knife services, the Term of the Lease as set forth in Section 3 of the
Lease (and as extended by the First Extension pursuant to Amendment Two) is
hereby further extended for an additional one (1) year period (the "Second
Extension"), which Second Extension shall commence on September 27, 2015 (i.e., on the
expiration date of the First Extension of the Term). All references
in the Lease to the "Term" shall be deemed to refer to the Term, as extended by
the First Extension and the Second Extension.
3. Captions. The
captions and paragraph headings used herein are for convenience only and shall
not be used in construing or interpreting this Amendment Three.
4. Full Force and
Effect. Except as amended by this Amendment Three, all of the terms and
provisions of the Lease (as amended) shall remain in full force and
effect.
IN
WITNESS WHEREOF, the parties have executed this Amendment Three effective as of
the date first written above.
GK
FINANCING, LLC
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BOARD
OF TRUSTEES OF THE UNIVERSITY
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OF
ARKANSAS on behalf of THE UNIVERSITY
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By:
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/s/ Xxxxxx X. Xxxxx, M.D.
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OF
ARKANSAS FOR
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Name:
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Xxxxxx
X. Xxxxx, M.D.
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MEDICAL
SCIENCES
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Title:
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Policy
Committee Member
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By:
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/s/ Xxxxxx Xxxxxxxx
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Name:
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Xxxxxx
Xxxxxxxx, X.X., M.S., C.P.A
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Title:
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UAMS/Vice
Chancellor for Finance
&CFO
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