Exhibit 10.44
Reference is made to (i) the
Installment Note executed as of the 20th day of July 1999 (the
“Installment Note”) by Ascent Management, Inc., a Delaware corporation
(“AMI” or the “Borrower”) and wholly-owned subsidiary of Ascent
Assurance, Inc., a Delaware corporation (“Ascent”, formerly known as
Westbridge Capital Corp.), and (ii) the Guaranty executed as of the 21st day of
July 1999 (as modified and supplemented and in effect on the date hereof, the
“Guaranty”) issued by Ascent Funding, Inc. in favor of the Bank.
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(1) Payment of Installment Note. The Bank hereby acknowledges receipt on
January 31, 2003 of an amount equal to $1,624,406.96 representing the payment of
prepayment in full of all outstanding amounts owed to AMI under and in
connection with the Installment Note. As a result, the Installment Note and the
Guaranty are hereby deemed to be terminated. |
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IN WITNESS WHEREOF, the Bank has caused this Termination and Release to be duly executed as
of the 31st day of January 2003. |
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LASALLE BANK NATIONAL ASSOCIATION |
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By: /Xxxxxxx Xxxxxxxx/ |
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Name: Xxxxxxx Xxxxxxxx |
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Title: Assistant Vice President |
