AMENDMENT NO. 2 TO LOAN FACILITY LETTER
This Amendment No. 2, dated as of March 20, 2001, is by and among Xxxxxx X.
Xxxxx ("Xxxxx"), Huntingdon Life Sciences Group plc ("Huntingdon") and Focused
Healthcare Partners LLC ("FHP").
WHEREAS, pursuant to that certain Loan Facility Letter, dated September
25, 2000, between Xxxxx and Huntingdon, as amended by Amendment No. 1 to Loan
Facility Letter dated as of February 7, 2001, Xxxxx agreed to make available to
Huntingdon a loan facility (the "Loan Facility") of up to (pound)2,000,000,
(pound)1,000,000 of which has already been drawn by Huntingdon;
WHEREAS, Huntingdon has advised Xxxxx that it intends to draw an
additional US $750,000 (the "Second Draw") under the Loan Facility on or about
March 22, 2001;
WHEREAS, Xxxxx, Huntingdon and FHP have agreed that the funds to be
loaned to Huntingdon under the Second Draw shall be loaned in part by FHP and in
part by Xxxxx and that FHP shall become a party to the Loan Facility Letter.
NOW, THEREFORE, the parties hereto agree as follows;
1. From and after the date hereof, FHP shall be added to and shall be
deemed to be a party to the Loan Facility Letter.
2. Notice for the Second Draw shall be delivered on at least one day's
advance written notice to FHP at the address and phone number on record
with Huntingdon, as well as to Xxxxx as previously provided.
3. Payment of the Second Draw shall be made in US dollars.
4. Xxxxx shall fund $500,000 of the Second Draw and FHP shall fund
$250,000 of the Second Draw.
5. Payment of interest and repayment of principal on the Second Draw shall
be made in US dollars and to such accounts as shall be designated by
Xxxxx and FHP, respectively.
Accepted and agreed:
/s/ Xxxxxx Xxxxx
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Xxxxxx Xxxxx
/s/ Xxxxxx Xxxxxxxxx
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Huntingdon Life Sciences Group plc
/s/ Xxxxxxx Xxxxxxxxxx
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Focused Healthcare Partners LLC
