Amendment to Operating Agreement of Louisiana Heart Hospital, LLC

Summary

This amendment updates the Operating Agreement of Louisiana Heart Hospital, LLC. It requires each member to contribute 20% of their initial capital upon signing and provide proof that the remaining 80% is available through an irrevocable letter of credit, valid for at least 24 months. LHMI can draw on this letter of credit at any time with five days' notice, and all capital contributions must be fully made within 24 months. All other terms of the original Operating Agreement remain unchanged.

EX-10.34 36 g68668a1ex10-34.txt FORM OF AMENDMENT LOUISIANA OPERATING AGREEMENT 1 EXHIBIT 10.34 AMENDMENT TO OPERATING AGREEMENT OF LOUISIANA HEART HOSPITAL, LLC (the "Company") THIS AMENDMENT to the Operating Agreement of the Company is effective as of the date the Operating Agreement is initially adopted by its Member(s) (the "Amendment"). 1. A new Section 3.1(b)(iii) is hereby added to the Operating Agreement as follows: (iii) Each Member shall contribute twenty percent (20%) of their initial Capital Contributions upon execution of this Agreement, and shall provide simultaneously written evidence satisfactory to LHMI that the balance of their initial Capital Contributions is available to be funded through an irrevocable letter of credit (for which the Company and LHMI shall have no liability and which will continue to be available for at least twenty-four (24) months from execution). Each Member shall arrange that following the contribution of twenty percent (20%) of the required initial Capital Contribution, LHMI shall be permitted, upon five (5) days written notice from LHMI at any time after execution of this Agreement, to draw on such letter of credit for the remaining balance of the initial Capital Contribution of the applicable Member as the needs of the Company for funds may require, in LHMI's sole discretion and without the Member's consent. Each Member acknowledges that in all events LHMI intends to require all initial Capital Contributions to be made in full within twenty-four (24) months of subscription. Except as provided herein, the Operating Agreement shall remain in full force and effect. [***] [***] These portions of this exhibit have been omitted and filed separately with the Commission pursuant to a request for confidential treatment.