Extension Agreement for Purchase and Sale of 717 Main Street, Westbury, NY between E-Z-EM Inc. and Kalaty Properties Corp.
E-Z-EM Inc. and Kalaty Properties Corp. have agreed to extend the due diligence period for the purchase and sale of 717 Main Street, Westbury, NY. The new deadline for the diligence period is the earlier of either the waiver or satisfaction of the environmental contingency or 5:00 p.m. EST on July 22, 2005. This extension allows the buyer more time to complete necessary reviews before finalizing the property purchase.
Exhibit 10.15
E-Z- EM Inc.
iPark Building, Suite LL-26
1111 Marcus Avenue
Lake Success, NY 11042
June 18, 2005
Kalaty Properties, Corp.
443 Park Avenue South
New York, NY 10016
Attention: Farshad Kalaty
Fax: 212 ###-###-####
Copy to:
Zaccaria & Sasson
175 East Shore Road
Great Neck, NY 11023
Attention: William Zaccaria
Fax: 516 ###-###-####
BY FACSIMILE
BY REGISTERED MAIL, RETURN RECEIPT
RE: Agreement for Purchase and Sale of 717 Main Street, Westbury, New York
Gentlemen:
We refer to the Agreement for Purchase and Sale of 717 Main Street, Westbury, New York (the “Property”), dated as of May 19, 2005 (the “Agreement”) between E-Z-Em Inc. (the “Seller”) and Kalaty Properties Corp. (the “Buyer”). All terms used herein and not defined shall have the meaning set forth in the Agreement.
Seller hereby agrees to extend the Diligence Period, as defined in the Agreement, to end on the earlier of (i) the waiving or the satisfaction of the environmental contingency set forth in Section 3.1(a) of the Agreement by notice to Seller or (ii) 5:00 p.m. Eastern Standard Time on July 22, 2005, TIME BEING OF THE ESSENCE.
Very truly yours,
E-Z-EM INC.
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| By: | /s/ Dennis J. Curtin | |
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| Name: | Dennis J. Curtin | |
| Title: | Senior Vice President, Chief Financial Officer |
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