Exhibit 99.01
FIRST AMENDMENT TO LOAN AGREEMENT
The First Amendment to Loan Agreement (this "Agreement") is entered into as
of the 22nd day of October, 2004, by and between Del Global Technologies Corp.
("Del Global") and Villa Sistemi Medicali, S.p.A. ("Villa").
BACKGROUND
Del Global and Villa are parties to a Loan Agreement dated September 23,
2004 (as amended, restated, supplemented or otherwise modified from time to
time, the "Loan Agreement") pursuant to which Del Global has borrowed the
principal sum of Euro 500,00 from Villa; and
Del Global has requested that Villa extend the Period of the Loan Agreement
and Villa is willing to do so.
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows:
1. DEFINITIONS. All capitalized terms not otherwise defined herein shall
have the meanings given to them in the Loan Agreement.
2. AMENDMENT TO LOAN AGREEMENT. The Loan Agreement is hereby amended as
follows:
(a) Section 2 is amended in its entirety to provide as follows:
"Subject to the provisions of Section 8 hereof, you will repay the
Loan together with any interest due up to the time of repayment on the
earlier of (i) the consummation by you of the sale of Villa Sistemi
Medicali S.p.A. and Del Medical Imaging Corp., and (ii) September 1, 2005
(the "Period")."
(b) Section 3 is amended in its entirety to provide as follows:
"Interest is payable on the principal amount of the Loan at the
end of the Period at 5% per annum. Interest will be computed on the basis
of actual number of days on a 360-day year."
3. GOVERNING LAW. This Agreement is governed by the laws of Italy.
4. COUNTERPARTS. This Agreement may be executed by the parties hereto in
one or more counterparts, each of which shall be deemed an original and all of
which when taken together shall constitute one and the same agreement. Any
signature delivered by a party by facsimile transmission shall be deemed to be
an original signature hereto.
5. FULL FORCE AND EFFECT. Except as expressly amended hereby, the Loan
Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, this Agreement has been duly executed as of the day and
year first written above.
Villa Sistemi Medicali, S.p.A.
By: /s/ Xxxxxxxx Xxxxxxxxx
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Name: Xxxxxxxx Xxxxxxxxx
Title: Managing Director
Del Global Technologies Corp.
By: /s/ Xxxxxx X. Xxxxxxxxx
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Name: Xxxxxx X. Xxxxxxxxx
Title:
