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EX-10.35B 48 w07623exv10w35b.htm EX-10.35B exv10w35b
 

Exhibit 10.35B

AMENDMENT TO IRREVOCABLE LETTER OF CREDIT

               
               
 
ISSUING BANK:
        NUMBER  
 
 MANUFACTURERS AND TRADERS TRUST CO.
     IRREVOCABLE TRANSFERABLE   SB ###-###-####  
 
 25 SOUTH CHARLES STREET
     STANDBY      
 
 15TH FLOOR
     LETTER OF CREDIT   Amendment  
 
 BALTIMORE, MD 21201
        Number 1  
           
  DATE OF ISSUE:     DATE OF THIS AMENDMENT :  
   2003 APRIL 9      2004 APRIL 1  
           
  APPLICANT :     [BENEFICIARY: Before this amendment)  
   AVALON PHARMACEUTICALS, INC.      M AND T BANK, AS TRUSTEE  
   20358 GOLDENROD LANE      CORPORATE TRUST DEPT,  
   GERMANTOWN, MD      25 SOUTH CHARLES STREET  
   20876      BALTIMORE, MD 21201  
           
 
ADVISING BANK: (Ref:)
            
        This amendment is to be considered as part of the above mentioned credit, and must be attached thereto.  
           

Ladies and Gentlemen:

We hereby amend our letter of credit as follows:

(1) The aggregate amount of the credit before any drawing is changed as follows:

The amount is decreased by USDl, 219,726.00

The aggregate amount of the credit before any drawings is now “USD10,977,534.00”.

EFFECTIVE IMMEDIATELY THE STATED AMOUNT OF THE LETTER OF CREDIT IS $10,977,534.00, OF WHICH STATED AMOUNT $10,800,000.00 REPRESENTS THE PRINCIPAL PORTION AND $177,534.00 REPRESENTS THE INTEREST PORTION.

All other terms and conditions remain unchanged.

Should you have any questions, please do not hesitate to contact us at 410 ###-###-####.

Thank you for the opportunity to be of service to you.

     
/s/ [ILLEGIBLE]
   
 
    
Authorized Signature