Amendment to Credit Agreement Between SunTrust Bank and Noven Pharmaceuticals, Inc.
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Summary
SunTrust Bank and Noven Pharmaceuticals, Inc. have agreed to extend their existing $10,000,000 line of credit for one year, with the new commitment termination date set as April 30, 2003. All other terms and conditions of the original credit agreement, dated December 5, 2000, remain unchanged. Both parties have signed to confirm their acceptance of this extension and modification.
EX-10.1 3 g76029ex10-1.txt AMENDMENT TO CREDIT AGREEMENT EXHIBIT 10.1 SUNTRUST BANK CHARLES J. KLENK Mail Code 1042 First Vice President 777 Brickell Avenue Miami, Florida 33131-2803 Tel ###-###-#### Fax ###-###-#### March 19, 2002 Ms. Diane M. Barrett Vice President, Finance and Treasurer Noven Pharmaceuticals, Inc. 11960 SW 144th Street Miami, Florida 33186 Re: Extension of the SunTrust Credit Agreement and Modification to the Note Dear Diane: SunTrust is pleased to inform Noven Pharmaceuticals that it has formally renewed the existing $10,000,000 line of credit for one year under the existing terms and conditions. We are most pleased to continue the relationship between our two organizations. In order to document this extension, please review the following modification to the Credit Agreement originally dated December 5, 2000 ("The Agreement") and the related Note: THE AGREEMENT IS HEREBY MODIFIED BY REPLACING THE DEFINITION OF "COMMITMENT TERMINATION DATE" IN ITS ENTIRETY WITH THE FOLLOWING LANGUAGE: "COMMITMENT TERMINATION DATE SHALL MEAN APRIL 30, 2003". If you agree to this extension and the language referred to above, please sign where indicated below. Diane, on behalf of the entire SunTrust team, please accept our heartfelt thanks for the opportunity to continue working with everyone there at Noven. Sincerely, /s/ Charles J. Klenk - ------------------------------- Charles J. Klenk First Vice President Accepted and Agreed: NOVEN PHARMACEUTICALS, INC. SUNTRUST BANK a Delaware Corporation By: /s/ DIANE M. BARRETT By: /s/ CHARLES J. KLENK -------------------------------- ---------------------------- Diane M. Barrett Charles J. Klenk Vice President, Finance & Treasurer First Vice President
