EXHIBIT 10.21
FIRST AMENDMENT
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FIRST AMENDMENT to CREDIT AGREEMENT (this "First Amendment") dated as of
March 20, 1996 between CHIRON CORPORATION (the "Borrower"), and SWISS BANK
CORPORATION, SAN XXXXXXXXX XXXXXX (the "Bank"). Capitalized terms used
herein and not otherwise defined herein shall have their respective meanings
provided in the Credit Agreement.
W I T N E S S E T H:
WHEREAS, the Borrower and the Bank have entered into a Revolving Credit
Agreement dated as of March 24, 1995 (the "Credit Agreement"); and
WHEREAS, the parties to the Credit Agreement desire to amend the Credit
Agreement;
NOW, THEREFORE, it is agreed:
1. The definition of "Expiry Date" in Section 1 of the Credit
Agreement is hereby amended by deleting the date "March 22, 1996" therein and
inserting in lieu thereof the date "March 24, 1997".
2. This First Amendment is limited as specified and shall not
constitute a modification, acceptance or waiver of any other provision of the
Credit Agreement or any other credit document.
3. From and after the date hereof, all references in the Credit
Agreement and each of the other credit documents to the Credit Agreement
shall be deemed to be references to the Credit Agreement as amended hereby.
4. In order to induce the Bank to enter into this First Amendment, the
Borrower hereby makes each of the representations, warranties and agreements
contained in Section 12 of the Credit Agreement on the date hereof, after
giving effect to this First Amendment.
5. This First Amendment shall become effective as of the date first
above written when each of the parties hereto have executed a counterpart of
this First Amendment.
6. This First Amendment may be executed on separate counterparts by
the parties hereto, each of which when so executed and delivered shall be an
original, but all of which shall constitute one and the same instrument.
7. THIS FIRST AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF
THE STATE OF CALIFORNIA.
THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY
JURY.
IN WITNESS WHEREOF, the Borrower and the Bank have caused their duly
authorized officers to execute and deliver this First Amendment as of the
date first above written.
CHIRON CORPORATION
By /s/ X.X. Xxxx
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Name:
Title: Treasurer
SWISS BANK CORPORATION,
SAN XXXXXXXXX XXXXXX
By /s/ Xxxx X. Xxxxxxxxxxx
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Name: Xxxx X. Xxxxxxxxxxx
Title: Associate Director
Accounting
By /s/ Xxxx-Xxxx Xxxxxx
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Name: Xxxx-Xxxx Xxxxxx
Title: Executive Director
Merchant Banking
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