March 25, 2002 (Sent via Fax (714-573-3494) Larry Batina Chief Financial Officer and Chief Operating Officer Naturade, Inc. 14370 Myford Rd. Irvine, CA 92606 Re: Waiver Dear Larry, Agreement: The Credit and Security Agreement signed and dated January...Naturade Inc • April 16th, 2003 • Pharmaceutical preparations
Wells Fargo Business Credit, Inc. has decided to waive our default rights through December 31, 2001 under the Agreement with respect to the breach of Section 6.12 and 6.13, Minimum Book Net Worth Plus Subordinated Convertible Debt and Minimum Net Income.
Loan AgreementLoan Agreement • April 16th, 2003 • Naturade Inc • Pharmaceutical preparations • California
Waiver AgreementWaiver Agreement • April 16th, 2003 • Naturade Inc • Pharmaceutical preparations
Westgate Equity Partners, L.P., a limited partnership organized under the laws of Delaware (the “Holder”) is the sole holder of the 13,540,723 outstanding shares of Series B Convertible Preferred Stock (the “Series B Preferred Stock”) of Naturade, Inc., a Delaware corporation (“Naturade”) and the sole holder of rights to purchase Series B Preferred Stock, under a Warrant to purchase up to 33,641,548 shares of Series B Preferred Stock dated as of January 2, 2002 (the “Warrant”).
SIXTH AMENDMENT TO CREDIT AND SECURITY AGREEMENT AND WAIVERCredit and Security Agreement and Waiver • April 16th, 2003 • Naturade Inc • Pharmaceutical preparations • California
THIS SIXTH AMENDMENT TO CREDIT AND SECURITY AGREEMENT AND WAIVER (this “Amendment”), dated as of March 24, 2003, is entered into between WELLS FARGO BUSINESS CREDIT, INC., a Minnesota corporation (the “Lender”), and NATURADE, INC., a Delaware corporation (the “Borrower”).
CONSENT AND MUTUAL RELEASEConsent and Mutual Release • April 16th, 2003 • Naturade Inc • Pharmaceutical preparations • California
This CONSENT AND MUTUAL RELEASE, dated as of April 14, 2003 (this “Agreement”), is made among Westgate Equity Partners, L.P., a limited partnership organized under the laws of Delaware (“Westgate”), Health Holdings & Botanicals, LLC, a limited liability company formed under the laws of California (“HHB”), and Naturade, Inc., a Delaware corporation (the “Company”).
