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