Termination Agreement for Installment Note and Guaranty between Ascent Management, Inc., Ascent Funding, Inc., and LaSalle Bank National Association

Summary

This agreement confirms that Ascent Management, Inc. has fully repaid its outstanding debt under an Installment Note to LaSalle Bank National Association. As a result, both the Installment Note and a related Guaranty issued by Ascent Funding, Inc. are officially terminated as of January 31, 2003. The agreement is executed by the bank to acknowledge receipt of payment and release all parties from further obligations under these documents.

EX-10.44 12 exh10_44.htm EXHIBIT 10.44 Exhibit 10.44 Exhibit 10.44
TERMINATION AGREEMENT

Reference is made to (i) the Installment Note executed as of the 20^th day of July 1999 (the “Installment Note”) by Ascent Management, Inc., a Delaware corporation (“AMI” or the “Borrower”) and wholly-owned subsidiary of Ascent Assurance, Inc., a Delaware corporation (“Ascent”, formerly known as Westbridge Capital Corp.), and (ii) the Guaranty executed as of the 21^st day of July 1999 (as modified and supplemented and in effect on the date hereof, the “Guaranty”) issued by Ascent Funding, Inc. in favor of the Bank.

(1) Payment of Installment Note. The Bank hereby acknowledges receipt on January 31, 2003 of an amount equal to $1,624,406.96 representing the payment of prepayment in full of all outstanding amounts owed to AMI under and in connection with the Installment Note. As a result, the Installment Note and the Guaranty are hereby deemed to be terminated.

IN WITNESS WHEREOF, the Bank has caused this Termination and Release to be duly executed as of the 31^st day of January 2003.

	LASALLE BANK NATIONAL ASSOCIATION
	By: /Bradley Kronland/
	Name: Bradley Kronland
	Title: Assistant Vice President