Lien Release Authorization Letter between Antares Pharma, Inc. and Investors (Xmark Fund, SDS Merchant Fund)
This letter, dated September 12, 2003, is from Antares Pharma, Inc. to its investors (Xmark Fund, L.P., Xmark Fund, Ltd., and SDS Merchant Fund, L.P.). It authorizes the termination of a security interest previously granted to the investors under a security agreement dated January 31, 2003. The letter allows the investors to file a UCC-3 form to officially release the lien on certain company assets, in connection with a securities exchange agreement between the parties.
Exhibit 10.58
FORM OF LIEN RELEASE AUTHORIZATION LETTER
September 12, 2003
Antares Pharma, Inc.
707 Eagleview Boulevard
Exton, PA 19341
Pursuant to that certain Amended and Restated Security Agreement, dated as of January 31, 2003, by and among Xmark Fund, L.P., Xmark Fund, Ltd., SDS Merchant Fund, L.P. (collectively, the “Investors”) and Antares Pharma, Inc. (“the Company”), the Company granted to the Investors a security interest in certain of the assets of the Company. In connection with that certain Securities Exchange Agreement, dated as of September 12, 2004, by and among the Investors and the Company, this letter will confirm that you are authorized to file a UCC-3 terminating the aforesaid security interest.
Very truly yours,
| By: | ||
| Name: Title: | ||
