Amendment to Master Security Agreement Between GECC and La Jolla Pharmaceutical Company

Contract Categories: Business Finance › Modification Agreements
Summary

This letter agreement amends a previous contract between General Electric Capital Corporation (GECC) and La Jolla Pharmaceutical Company regarding equipment financing. The amendment changes the contract's commencement date to September 27, 2002, and the first payment due date to October 1, 2002. All other terms of the original contract remain unchanged. Both parties have agreed to and acknowledged these modifications.

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EX-10.50 7 a85510exv10w50.txt EXHIBIT 10.50 EXHIBIT 10.50 (GE Logo) GE Commercial Equipment Finance Life Science & Technology Finance - ------------------------------------------------- 401 Merritt 7, Suite 23 Norwalk, CT 06851 ###-###-#### / Fax: 203 ###-###-#### September 27, 2002 Ms. Gail Sloan, Controller La Jolla Pharmaceutical Company 6455 Nancy Ridge Drive San Diego, CA 92121 Dear Ms. Sloan: Reference is made herein to a certain Schedule 001 to Master Security No. 4136472 dated September 6, 2002 between General Electric Capital Corporation ("GECC"), as, Lender and La Jolla Pharmaceutical Company ("La Jolla") as Borrower (the "Contract") covering the equipment listed on Exhibit A attached hereto (the "Equipment"). GECC and La Jolla acknowledge, agree and consent that the commencement date reflected on the Contract is hereby amended from September 26, 2002 to September 27, 2002. In addition, the first periodic installment is hereby amended from November 1, 2002 to October 1, 2002. In all other respects the terms and provisions of the Contract are hereby ratified and reconfirmed. Very truly yours, General Electric Capital Corporation AGREED TO AND ACKNOWLEDGED BY: La Jolla Pharmaceutical Company BY /s/ Gail A. Sloan -------------------------------- TITLE Controller -----------------------------