SECOND AMENDMENT TO SUBORDINATED REVOLVING LINE OF CREDIT AGREEMENT
Exhibit
10.1
SECOND
AMENDMENT TO
THIS
FIRST AMENDMENT TO
SUBORDINATED REVOLVING LINE OF CREDIT AGREEMENT (this
“Amendment”) is made and effective as of November 2, 2007, by and between
ECHO HEALTHCARE ACQUISITION CORP., a Delaware corporation (the
“Borrower”), and the individuals and entities set forth on Schedule A
(the “Lenders”) of the Credit Agreement (as defined herein).
RECITALS
A. The
Borrower and the Lenders are parties to that certain Subordinated Revolving
Line
of Credit Agreement, dated as of March 22, 2006 and amended by a First Amendment
thereto dated August 11, 2007 (as amended, the “Credit
Agreement”).
B. The
Borrower and the Lenders have agreed to amend the Credit Agreement and the
outstanding Revolving Line of Credit Notes thereunder upon the terms and
conditions set forth in this Amendment.
STATEMENT
OF AGREEMENT
NOW,
THEREFORE, for
and in consideration of the premises, the mutual covenants herein contained,
and
other good and valuable consideration, the receipt, adequacy and sufficiency
of
which is hereby acknowledged, the Borrower and the Lenders hereby agree as
follows:
1. Sections
1.1 and 6.4 of the Credit Agreement and Exhibit A thereto, and each outstanding
Revolving Line of Credit Note issued under the Credit Agreement, are hereby
amended by deleting each reference to the amount “$750,000” and inserting the
amount “$1,500,000” in replacement thereof.
2. Agreement
Ratified. Except as modified by this Amendment, the Borrower and
the Lenders do hereby ratify and reaffirm each and every provision of the Credit
Agreement. The Credit Agreement shall remain in full force and effect
in accordance with its terms, as modified by this Amendment. This Amendment
shall bind and inure to the benefit of the Borrower and the Lenders and their
respective successors and permitted assigns under the Credit
Agreement.
3. Defined
Terms. All defined terms used herein and not separately defined
herein shall have the meaning set forth in the Credit Agreement.
4. Governing
Law. This Amendment shall be construed and interpreted under the
laws of the State of Delaware.
5. Counterparts;
Facsimile Signatures. This Amendment may be executed in any
number of counterparts, each of which when executed shall be deemed to be an
original and all of which counterparts taken together shall constitute but
one
and the same instrument. The parties agree that facsimile signatures
shall be sufficient to bind them hereto.
IN
WITNESS WHEREOF,
each of the parties hereto has caused this Amendment to be executed
on
this 2nd day, of
November, 2007.
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Borrower:
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By: /s/
Xxxxx Xxxxxxxxxx
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Xxxxx
Xxxxxxxxxx, Chief Financial Officer
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Lenders:
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/s/
Xxxxxxx X. Xxxxxx
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Xxxxxxx
X. Xxxxxx, Ph.D.
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/s/
Xxxx X. Xxxxxxxx
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Xxxx
X. Xxxxxxxx
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Chicago
Investments, Inc.
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By: /s/
Xxxx X. Xxxxxx
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Xxxx
X. Xxxxxx, President
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