LAURUS MASTER FUND, LTD. c/o Laurus Capital Management, LLC New York, New York 10017Waiver of Events of Default; Amendment to Note; And Consent to Bridge Financing • April 19th, 2007 • Biovest International Inc • Pharmaceutical preparations • New York
Reference is made to that certain (a) Note and Warrant Purchase Agreement dated as of March 31, 2006 (as amended, restated, supplemented and/or modified from time to time, “the Purchase Agreement”) by and between Biovest International, Inc. (“Biovest”) and Laurus Master Fund, Ltd. (“Laurus”), (b) Secured Promissory dated March 31, 2006 (as amended, restated, supplemented and/or modified from time to time, the “Note”) in the original principal amount of $7,799,000 and (c) Joinder Agreement dated as of December 8, 2006 (as amended, restated, supplemented and/or modified from time to time, the “Joinder Agreement”) made by AutovaxID, Inc. (“AutovaxID”) and Biolender II, LLC in favor of Laurus pursuant to which, among other things, AutovaxID agreed to (i) join that certain Subsidiary Guaranty dated March 31, 2006 made by Biovax, Inc. in favor of Laurus and (ii) guarantee all of the obligations and liabilities of Biovest under the Purchase Agreement, the Note and the other Related Agreements
