Amendment to Credit Agreement between The Frost Group, LLC and Modigene Inc. dated March 11, 2009
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Summary
This agreement is an amendment to a previous credit agreement between The Frost Group, LLC (the lender) and Modigene Inc. (the borrower). It extends the one-year anniversary date referenced in the original note to April 30, 2009. All other terms and conditions of the original credit agreement and note remain unchanged and in effect. The agreement is governed by Florida law and is signed by authorized representatives of both parties.
EX-10.26 10 v142655_ex10-26.htm Unassociated Document
Exhibit 10.26
| The Frost Group, LLC |
| 4400 Biscayne Boulevard |
| Miami, Florida 33137 |
| Date: | March 11, 2009 |
| To: | Modigene Inc. |
| | 3 Sapir Street |
| | Weizmann Science Park |
| | Nes-Ziona, Israel 74170 |
| Re: | Credit Agreement |
Reference is hereby made to (i) the Credit Agreement ( the “Credit Agreement”) dated as of March 25, 2008 among Modigene, Inc. as the borrower (the “Borrower”), and The Frost Group, LLC, as the lender (the “Lender” capitalized terms used and not otherwise defined herein shall have the meaning assigned to them in the Credit Agreement), and (ii) the Note.
By signing below, the Lender hereby agrees that, effective as of the date hereof:
| | 1. | Notwithstanding anything to the contrary in the Credit Agreement or the Note, the One-Year Anniversary (as defined in the Note) shall be extended and deemed to be April 30, 2009. |
| | 2. | The Lender hereby agrees and acknowledges that the Credit Agreement is binding and enforceable against the Lender and that, except for the modifications contained herein, the terms, conditions and provisions of the Credit Agreement and the Note, and any other documents referred to herein or therein, shall continue in full force and effect. |
This agreement shall be governed by, and shall be construed and enforced in accordance with, the internal laws of the State of Florida.
[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK.]
SIGNED:
THE FROST GROUP, LLC.
| By: | /s/ Steven D. Rubin |
| Name: | Steven D. Rubin |
| Title: | Member |
MODIGENE, INC.
| By: | /s/ Shai Novik | |
| Name: | Shai Novik | |
| Title: | President |
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