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EXHIBIT 10.34
AMENDMENT TO
OPERATING AGREEMENT OF
LOUISIANA HEART HOSPITAL, LLC (the "Company")
THIS AMENDMENT to the Operating Agreement of the Company is effective
as of the date the Operating Agreement is initially adopted by its Member(s)
(the "Amendment").
1. A new Section 3.1(b)(iii) is hereby added to the Operating
Agreement as follows:
(iii) Each Member shall contribute twenty percent
(20%) of their initial Capital Contributions upon execution of
this Agreement, and shall provide simultaneously written
evidence satisfactory to LHMI that the balance of their
initial Capital Contributions is available to be funded
through an irrevocable letter of credit (for which the Company
and LHMI shall have no liability and which will continue to be
available for at least twenty-four (24) months from
execution). Each Member shall arrange that following the
contribution of twenty percent (20%) of the required initial
Capital Contribution, LHMI shall be permitted, upon five (5)
days written notice from LHMI at any time after execution of
this Agreement, to draw on such letter of credit for the
remaining balance of the initial Capital Contribution of the
applicable Member as the needs of the Company for funds may
require, in LHMI's sole discretion and without the Member's
consent. Each Member acknowledges that in all events LHMI
intends to require all initial Capital Contributions to be
made in full within twenty-four (24) months of subscription.
Except as provided herein, the Operating Agreement shall remain in full force
and effect.
