AMENDMENT AND CONSENT TO RELEASEAmendment and Consent to Release • August 8th, 2006 • Biovest International Inc • Pharmaceutical preparations • New York
This Amendment and Consent to Release (this “Amendment”), dated as of August 2, 2006, among Biovest International, Inc. a Delaware corporation (“Biovest” or, the “Company”), Biovax, Inc., a Florida corporation and a wholly-owned subsidiary of the Company (“Biovax” and, together with the Company, the “Credit Parties” and each, a “Credit Party”) and Laurus Master Fund, Ltd., a Cayman Islands company (“Laurus”) amends (x) that certain Restricted Account Side Letter, dated as of March 31, 2006 by and between the Company and Laurus (as amended, modified or supplemented from time to time, the “Side Letter Agreement”), which is entered into in connection with that certain Restricted Account Agreement dated as of March 31, 2006, among the Company, North Fork Bank and Laurus (as amended, modified or supplemented from time to time, the “Restricted Account Agreement”) and (y) that certain Secured Promissory Note, issued in the initial face amount of $7,799,000 by the Company to Laurus as of March
