Exhibit 10.20
SIXTH AMENDMENT TO CREDIT AGREEMENT
THE SIXTH AMENDMENT TO CREDIT AGREEMENT (this "Amendment") is entered into
as of November 7, 2001 by and between Invivo Corporation, a Delaware corporation
("Borrower"), and XXXXX FARGO BANK, NATIONAL ASSOCIATION ("Bank").
RECITALS
WHEREAS, Borrower is currently indebted to Bank pursuant to the terms and
conditions of that certain Credit Agreement between Borrower and Bank dated as
of October 6, 1998, as amended from time to time ("Credit Agreement").
WHEREAS, Bank and Borrower have agreed to certain changes in the terms and
conditions set forth in the Credit Agreement and have agreed to amend the Credit
Agreement to reflect said changes.
NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree that the Credit
Agreement shall be amended as follows:
1. Section 1.2(a) is hereby amended by deleting "December 2, 2001" as
the last day on which Bank will make advances under the Line of
Credit, and by substituting for said date "December 1, 2002," with
such change to be effective upon the execution and delivery to Bank
of a promissory note substantially in the form of Exhibit A attached
hereto (which promissory note shall replace and be deemed the Line
of Credit Note defined in and made pursuant to the Credit Agreement)
and all other contracts, instruments and documents required by Bank
to evidence such change.
2. Section 4.8 (e) is hereby deleted in its entirety, without
substitution.
3. Except as specifically provided herein, all terms and conditions of
the Credit Agreement remain in full force and effect, without waiver
or modification. All terms defined in the Credit Agreement shall
have the same meaning when used in this Amendment. This Amendment
and the Credit Agreement shall be read together, as one document.
4. Borrower hereby remakes all representations and warranties contained
in the Credit Agreement and reaffirms all covenants set forth
therein. Borrower further certifies that as of the date of this
Amendment there exists no Event of Default as defined in the Credit
Agreement, nor any condition, act or event which with the giving of
notice or the passage of time or both would constitute any such
Event of Default.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed as of the day and year first written above.
XXXXX FARGO BANK,
INVIVO CORPORATION NATIONAL ASSOCIATION
By:___________________________________ By:__________________________________
Xxxxx X. Xxxxxxx Xxxx Xxxxxxxx
President Vice President
By:___________________________________
Xxxx X. Xxxxx
Vice President, Finance
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