December 30, 2004Extension and Tolling Agreement • March 31st, 2005 • Global Preferred Holdings Inc • Life insurance
This letter will evidence the agreement of the undersigned that notice of termination of the above-referenced Tolling Agreement may not be given before the earlier of (a) the "Effective Time" (as defined in the Reorganization Agreement) or (b) the date of termination of the Reorganization Agreement. Any notice by either party purporting to terminate the Tolling Agreement which is given before such date shall be void and of no effect. The parties acknowledge that, by the terms of the Tolling Agreement, the "deadlines" (as such term is defined therein) are extended and tolled until ninety (90) days following receipt of such notice by the other party.
