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EXHIBIT 10.8(m)
AMENDMENT NO. THREE TO THE LOAN
AND SECURITY AGREEMENT
INTERNATIONAL REMOTE IMAGING SYSTEMS, INC.
PERCEPTIVE SCIENTIFIC INSTRUMENTS, LLC.
AND
STATSPIN, INC.
This Amendment No. Three To The Loan And Security Agreement (the
"Amendment") is entered into as of the 16th day of April, 1999, by and between
INTERNATIONAL REMOTE IMAGING SYSTEMS, INC. ("IRIS") a Delaware corporation,
whose chief executive office is located at 0000 Xxxx Xxxxxx, Xxxxxxxxxx,
Xxxxxxxxxx 00000, PERCEPTIVE SCIENTIFIC INSTRUMENTS, LLC. ("PSI"), a Delaware
Corporation, 0000 Xxxxx Xxxxx Xxxxxxxxx, Xx. 000, Xxxxxx Xxxx, Xxxxx 00000, and
STATSPIN, INC. ("Statspin"), a Massachusetts corporation, 00 Xxxxx Xxxxxx,
Xxxxxxx, Xxxxxxxxxxxxx 00000 (collectively, "Borrower") and FOOTHILL CAPITAL
CORPORATION, a California corporation ("Foothill"), with a place of business
located at 00000 Xxxxx Xxxxxx Xxxxxxxxx, Xxxxx 0000, Xxx Xxxxxxx, Xxxxxxxxxx
00000-0000, in light of the following facts:
FACTS
FACT ONE: Foothill and Borrower have previously entered into that
certain Loan and Security Agreement, dated May 5, 1998 (as amended and
supplemented, the "Agreement").
FACT TWO: Foothill and Borrower desire to amend the Agreement as
provided herein. Terms defined in the Agreement which are used herein shall have
the same meanings as set forth in the Agreement, unless otherwise specified.
NOW, THEREFORE, Foothill and Borrower hereby modify and amend the
Agreement as follows:
1. Schedule 6.12 of the Agreement is hereby amended to include the
following under "Location of Inventory and Equipment":
- Maintain Inventory and Equipment in an amount not to exceed $200,000
at any one time, outside the continental United States
2. Foothill shall charge Borrower's loan account a fee in the amount of
$500.00. Said fee shall be fully-earned, non-refundable, and due and payable on
the date Borrower's loan account is charged.
3. In the event of a conflict between the terms and provisions of this
Amendment and the terms and provisions of the Agreement, the terms and
provisions of this Amendment shall govern. In all other respects, the Agreement,
as supplemented, amended and modified, shall remain in full force and effect.
IN WITNESS WHEREOF, Borrower and Foothill have executed this Amendment
as of the day and year first written above.
FOOTHILL CAPITAL INTERNATIONAL REMOTE
CORPORATION IMAGING SYSTEMS, INC.
By: /s/ Xxxxxxx Xxxxxxxx By: /s/ Xxxxxx X. XxXxxxxx
Its:Assistant Vice President Its:VP, Finance & Administration, CFO
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PERCEPTIVE SCIENTIFIC STATSPIN, INC.
INSTRUMENTS, LLC
By: /s/ Xxxxxx X. XxXxxxxx By: /s/ Xxxxxx X. XxXxxxxx
Its: VP and CFO Its: VP and CFO
