AMENDMENT NUMBER ONE TO SECURITY AGREEMENT
(GUARANTOR)
This AMENDMENT NUMBER ONE TO SECURITY AGREEMENT, dated as of July 14,
1997 (this "AMENDMENT"), is entered into between PROSPECT MEDICAL SYSTEMS, INC.,
a Delaware corporation ("GUARANTOR") and Imperial Bank, a California banking
corporation ("BANK"), with reference to the following facts:
R E C I T A L S
A. Guarantor and Bank have previously entered into that certain
Security Agreement, dated as of July 3, 1997 (the "SECURITY AGREEMENT"); and
B. Guarantor has requested that Bank approve certain changes to the
information set forth in SCHEDULE 1 to the Security Agreement, and Bank has
approved of same.
A G R E E M E N T
1. REPLACEMENT OF SCHEDULE. SCHEDULE 1 attached to the Security
Agreement is hereby deleted in its entirety and replaced with SCHEDULE 1
attached to this Amendment.
2. EFFECTIVENESS. The effectiveness of this Amendment is subject to
and contingent upon the execution and delivery of this Amendment by Guarantor
and Bank.
3. COUNTERPARTS. This Amendment may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument.
4. AFFIRMATION. The Security Agreement as amended hereby, the
Continuing Guaranty executed by Guarantor in favor of Bank, and all other
agreements, instruments and documents executed between Guarantor and Bank, or by
Guarantor in favor of Bank, remain in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the
date first set forth above.
PROSPECT MEDICAL SYSTEMS, INC.,
a Delaware corporation
By /s/ Xxxxx X. Xxxxxx, M.D.
---------------------------------
Chief Executive Officer
1
IMPERIAL BANK,
a California banking corporation
By /s/ Xxxx X. Xxxxxxxx
---------------------------------
Senior Vice President
2