Exhibit 10.22
Bank of America
Amendment to Documents
AMENDMENT NO. 2 TO BUSINESS LOAN AGREEMENT
This Amendment No. 2 (the "Amendment") dated as of December 8, 1998, is
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between Bank of America National Trust and Savings Association (the "Bank") and
Variflex, Inc. (the "Borrower").
RECITALS
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A. The Bank and the Borrower entered into a certain Business Loan Agreement
dated as of January 23, 1998, (the "Agreement").
B. The Bank and the Borrower desire to amend the Agreement.
AGREEMENT
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1. Definitions. Capitalized terms used but not defined in this Amendment
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shall have the meaning given to them in the Agreement.
2. Amendments. The Agreement is hereby amended as follows:
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2.1 In Paragraph 1 .2 of the Agreement, the date "March 31, 1999" is
substituted for the date "December 31, 1998."
3. Representations and Warranties. When the Borrower signs this Amendment,
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the Borrower represents and warrants to the Bank that: (a) there is no event
which is, or with notice or lapse of time or both would be, a default under the
Agreement except those events, if any, that have been disclosed in writing to
Bank or waived in writing by the Bank, (b) the representations and warranties in
the Agreement are true as of the date of this Amendment as if made on the date
of this Amendment, (c) this Amendment is within the Borrower's powers, has been
duly authorized, and does not conflict with any of the Borrower's organizational
papers, and (d) this Amendment does not conflict with any law, agreement, or
obligation by which the Borrower is bound.
4. Effect of Amendment. Except as provided in this Amendment, all of the
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terms and conditions of the Agreement shall remain in full force and effect.
This Amendment is executed as of the date stated at the beginning of this
Amendment.
Bank of America Variflex, Inc.
National Trust and Savings
Association
X /s/ Xxxxxxx X. Xxxx X /s/ Xxxxx X. Xxxxxxxxx
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By: Xxxxxxx X. Xxxx, Vice President By: Xxxxx X. Xxxxxxxxx, CFO
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