Acknowledgement of Extended Maturity Date under Secured Subordinated Promissory Notes between Virbac S.A. and Borrowers

Summary

This agreement acknowledges that Virbac S.A. and several affiliated companies (the Borrowers) have agreed to extend the maturity date of two secured subordinated promissory notes from July 9, 2004 to October 9, 2004. The extension is made under the terms of the original notes, and this document does not waive any rights to further automatic extensions as provided in the notes. The agreement is signed by Virbac S.A. and confirms the new maturity date for repayment.

EX-10.18 11 d24329exv10w18.txt ACKNOWLEDGEMENT OF EXTENDED MATURITY DATE ACKNOWLEDGEMENT OF EXTENDED MATURITY DATE Virbac Corporation, PM Resources, Inc., St. Jon Laboratories, Inc., Francodex Laboratories, Inc., Delmarva Laboratories, Inc. and Virbac AH, Inc. are the Borrowers under the Secured Subordinated Promissory Note dated as of April 9, 2004 and the Secured Subordinated Promissory Note dated April 29, 2004, both in favor of Virbac S.A. (the "Notes"). Capitalized terms used herein but not otherwise defined shall have the meaning ascribed to them in the Notes. The Extended Maturity Date under the Notes is July 9, 2005. Under Section 2(b) of the Notes the Maturity Date may be extended for up to three periods of three months. Virbac S.A. hereby agrees to extend the Maturity Date under the notes until October 9, 2004. This Acknowledgement of Extended Maturity Date does not, under any circumstances, constitute a waiver of the automatic extension to Maturity Date set forth in Section 2(b) of the Notes. Agreed to and acknowledged this 3rd day of June, 2004: VIRBAC S.A. /s/ Eric Maree __________________________ ________________________ Name: Eric Maree Date Title: President of the Management Board