August 19, 2004 SDA AMERICA, INC. 230 Park Avenue, 10th Floor New York, NY 10169 Attn: Jay McDaniel Re: Restricted Account: Account Number 2704051693, Account Name: SDA America, Inc., maintained at North Fork Bank (the "Restricted Account"). This...Restricted Account Side Letter • August 23rd, 2004 • Secured Digital Applications Inc • Services-miscellaneous business services
This letter will amend, restate and replace our letter agreement of May 28, 2004 concerning the use of funds in the Restricted Account (the "Existing Restricted Account Side Letter"). Reference is made to (i) that certain Securities Purchase Agreement, dated as of May 28, 2004 (as amended on August 19, 2004, the "Purchase Agreement"), by and among Secured Digital Applications, Inc., a Delaware corporation (the "Parent"), SDA AMERICA, INC., a Delaware corporation (the "Company"), and Laurus Master Fund, Ltd. (the "Purchaser") relating to the issuance of the Series A Preferred referred to therein and (ii) that certain Restricted Account Agreement, dated as of May 28, 2004 (as amended, modified or supplemented from time to time, the "Restricted Account Agreement"), by and among the Company, Laurus and North Fork Bank (the "Bank"). Capitalized terms used but not defined herein shall have the meanings ascribed them in the Purchase Agreement or the Restricted Account Agreement, as applicable
FORM OF RESTRICTED ACCOUNT SIDE LETTER May 19, 2005Restricted Account Side Letter • June 24th, 2005 • Corgenix Medical Corp/Co • In vitro & in vivo diagnostic substances
Reference is made to (i) that certain Securities Purchase Agreement, dated as of May , 2005 (as amended, modified or supplemented from time to time, the “Purchase Agreement”), by and between Corgenix Medical Corporation, a Nevada corporation (the “Company”), and [PURCHASERS] (the “Purchasers”) and (ii) that certain Restricted Account Agreement, dated as of May , 2005 (as amended, modified or supplemented from time to time, the “Restricted Account Agreement”), by and among the Company, the Purchasers and North Fork (the “Bank”). Capitalized terms used but not defined herein shall have the meanings ascribed them in the Purchase Agreement or the Restricted Account Agreement, as applicable. Pursuant to Section 3.2 of the Purchase Agreement, the Company is required to place $250,000 in the Restricted Account, and, subject to the provisions of this letter, the Purchase Agreement and any Related Agreement, maintain such amount in the Restricted Account for as long as the Purchasers shall have
