AMENDMENT TO WARRANTSWarrant Amendment • July 14th, 2003 • Medicalcv Inc • Orthopedic, prosthetic & surgical appliances & supplies
THIS AMENDMENT to WARRANTS is made as of July 1, 2003, by and between MEDICAL CV, INC., a Minnesota corporation (the “Company”) and PKM PROPERTIES, LLC, a Minnesota limited liability company (the “Lender”).
MAY SECURITY AGREEMENTSecurity Agreement • July 14th, 2003 • Medicalcv Inc • Orthopedic, prosthetic & surgical appliances & supplies
(Hauser and PKM Properties, individually and collectively, and their respective successors and assigns, will be referred to in this May Security Agreement as the “Secured Party”)
MAY DISCRETIONARY CREDIT AGREEMENTDiscretionary Credit Agreement • July 14th, 2003 • Medicalcv Inc • Orthopedic, prosthetic & surgical appliances & supplies • Minnesota
THIS DISCRETIONARY CREDIT AGREEMENT, dated as of July 1, 2003, is by and between MEDICALCV, INC., a Minnesota corporation (the “Borrower”), and PKM PROPERTIES, LLC, a Minnesota limited liability company (the “Lender”).
July 1, 2003Loan Agreement • July 14th, 2003 • Medicalcv Inc • Orthopedic, prosthetic & surgical appliances & supplies • Minnesota
SUBORDINATION AND INTERCREDITOR AGREEMENTSubordination and Intercreditor Agreement • July 14th, 2003 • Medicalcv Inc • Orthopedic, prosthetic & surgical appliances & supplies • Minnesota
THIS SUBORDINATION AND INTERCREDITOR AGREEMENT, dated as of July 1, 2003, is by and between PETER L. HAUSER, a resident of the State of Minnesota, and his successors heirs and permitted assigns (the “Junior Creditor”), and PKM PROPERTIES, LLC, a Minnesota limited liability company, and its endorsees, successors and assigns (the “Senior Creditor”).
MAY DISCRETIONARY CREDIT NOTEMay Discretionary Credit Note • July 14th, 2003 • Medicalcv Inc • Orthopedic, prosthetic & surgical appliances & supplies
FOR VALUE RECEIVED, MEDICALCV, INC., a Minnesota corporation (the “Borrower”) promises to pay to the order of PKM PROPERTIES, LLC, a Minnesota limited liability company (the “Lender”) at its office in Minneapolis, Minnesota or at such other place as may be designated from time to time by the holder hereof, in lawful money of the United States of America, the principal sum of One Million Dollars ($1,000,000) or so much thereof as has been advanced by the Lender to or for the benefit of the Borrower pursuant to that certain May Discretionary Credit Agreement, dated as of the date hereof, as amended from time to time, between the Borrower and the Lender (the “Agreement”) and remains unpaid, together with interest on the unpaid principal balance hereof from May 28, 2003 until this Note is fully paid, at an annual rate of interest, calculated on the basis of actual number of days elapsed in a 360 day year, that shall at all times be equal to the Interest Rate, as provided in the Agreement,
SUBORDINATED NOTESubordinated Note • July 14th, 2003 • Medicalcv Inc • Orthopedic, prosthetic & surgical appliances & supplies
This Note shall be payable in lawful money of the United States of America in immediately available funds. All payments on this Note shall be applied to the payment of accrued interest before being applied to the payment of principal. Any payment which is required to be made on a day which is not a banking business day for the Lender shall be payable on the next succeeding banking business day and such additional time shall be included in the computation of interest. The principal amount of this Note may be prepaid in whole or in part at any time without prior notice, premium, or penalty so long as such prepayment is accompanied by payment of all interest accrued on the amount prepaid.
