Amendment to Additional Investment Right Agreement between Generex Biotechnology Corporation and Omicron Master Trust

Contract Categories: Business Finance › Modification Agreements
Summary

Generex Biotechnology Corporation and Omicron Master Trust have agreed to amend the terms of an additional investment right originally issued on January 20, 2006. This amendment allows Omicron to exercise its right to purchase a $1,000,000 convertible debenture at $1.25 per share earlier than initially agreed, provided Omicron submits a Notice of Exercise by the end of February 28, 2006. Generex will honor this early exercise as consideration for Omicron's timely action.

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EX-4.2 3 v036745_ex4-2.htm

Exhibit 4.2

 

February 28, 2006

Omicron Master Trust
650 Fifth Avenue
24th Floor
New York, New York
USA 10019
Attention:   Brian Daly


Dear Sirs:
 
Re: Generex Biotechnology Corporation
  - Amendment to Jan 20 06 Additional Investment Right
 
We make reference to the additional investment right issued by Generex Biotechnology Corporation (the “Company”) to Omicron Master Trust (“Omicron”) on January 20, 2006 pursuant to which the Company, inter alia, granted to Omicron the right to purchase a $1,000,000 principal amount debenture convertible at $1.25 per share (the “AIR”).

The Initial Exercise Date (as that term is defined in the AIR) of the AIR is expressed therein as the 181st day after the date thereof. The Company hereby confirms that, in consideration of the exercise of the AIR by Omicron and the delivery to the Company of a Notice of Exercise in respect thereof on or before the close of business on February 28, 2006, the Company has agreed to abridge the Initial Exercise Date and to honor the aforementioned Notice of Exercise.

Yours truly,

Generex Biotechnology Corporation

/s/ Mark A. Fletcher


Mark A. Fletcher
Executive Vice-President, General Counsel
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