FIRST AMENDMENT TO SUBORDINATED REVOLVING LINE OF CREDIT AGREEMENT

 

 

THIS FIRST AMENDMENT TO SUBORDINATED REVOLVING LINE OF CREDIT AGREEMENT (this “Amendment”) is made and effective as of August 11, 2007, by and between ECHO HEALTHCARE ACQUISITION CORP., a Delaware corporation (the “Borrower”), and the individuals and entities set forth on Schedule A (the “Lenders”) of the Credit Agreement (as defined herein).

A.    The Borrower and the Lenders are parties to that certain Subordinated Revolving Line of Credit Agreement, dated as of March 22, 2006 (the “Credit Agreement”).

B.    The Borrower and the Lenders have agreed to amend the Credit Agreement upon the terms and conditions set forth in this Amendment.

NOW, THEREFORE, for and in consideration of the premises, the mutual covenants herein contained, and other good and valuable consideration, the receipt, adequacy and sufficiency of which is hereby acknowledged, the Purchaser and the Sellers hereby agree as follows:

1.    Section 1.2.4 of the Credit Agreement is hereby deleted in its entirety and replaced with the following:

March 22, 2008, provided that Borrower may request advances after that date solely to pay reasonable costs and expenses in connection with liquidation of Borrower;

2.    Agreement Ratified. Except as modified by this Amendment, the Borrower and the Lenders do hereby ratify and reaffirm each and every provision of the Credit Agreement. The Credit Agreement shall remain in full force and effect in accordance with its terms, as modified by this Amendment. This Amendment shall bind and inure to the benefit of the Borrower and the Lenders and their respective successors and permitted assigns under the Credit Agreement.

3.     Defined Terms. All defined terms used herein and not separately defined herein shall have the meaning set forth in the Credit Agreement.

4.    Governing Law. This Amendment shall be construed and interpreted under the laws of the State of Delaware.

5.    Counterparts; Facsimile Signatures. This Amendment may be executed in any number of counterparts, each of which when executed shall be deemed to be an original and all of which counterparts taken together shall constitute but one and the same instrument. The parties agree that facsimile signatures shall be sufficient to bind them hereto.

 

IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to be executed on this 11th day, of August, 2007.

 

 

Borrower: Echo Healthcare Acquisition Corp. By: /s/ Kevin Pendergest  Kevin Pendergest, Chief Financial Officer Lenders: /s/ Richard O. Martin Richard O. Martin, Ph.D.   /s/ Gene E. Burleson  Gene E. Burleson Chicago Investments, Inc. By: /s/ Josh S. Kanter Josh S. Kanter, President