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Exhibit 10.40

SECOND AMENDMENT TO RECEIVABLES PURCHASE AGREEMENT

        THIS SECOND AMENDMENT TO RECEIVABLES PURCHASE AGREEMENT, dated as of
September 20, 2001 (this "Amendment"), is by and among Edwards Lifesciences
Financing LLC, a Delaware limited liability company ("Seller"), Edwards
Lifesciences LLC, a Delaware limited liability company ("Servicer"), Blue Ridge
Asset Funding Corporation, a Delaware corporation ("Blue Ridge"), the liquidity
banks from time to time party to the Liquidity Agreement (the "Liquidity Banks;"
together with Blue Ridge, the "Purchasers") and Wachovia Bank, N.A., as agent
for the Purchasers (the "Agent"), and pertains to the Receivables Purchase
Agreement dated as of December 21, 2000 amongst the parties hereto (as
heretofore and hereby amended, the "Purchase Agreement"). Unless otherwise
defined in this Amendment capitalized terms used herein shall have the meanings
assigned to such terms in the Purchase Agreement.

PRELIMINARY STATEMENTS

        WHEREAS, the Seller wishes to make certain amendments to the Purchase
Agreement; and

        WHEREAS, the Agent and the Purchasers are willing to agree to such
amendments.

        NOW, THEREFORE, in consideration of the foregoing premises and the
mutual agreements herein contained and other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the parties hereto
agree as follows:

        1.    Amendments.    

        (a)  The table in the definition of "Obligor Concentration Limit" set
forth in the Agreement is hereby amended to replace "2%" where it appears in the
bottom right-hand cell therein with "1.5%".

        (b)  The definition of "Required Reserve Factor Floor" set forth in the
Agreement is hereby amended and restated in its entirety to read as follows:

        "Required Reserve Factor Floor" means, for any Calculation Period, the
sum (expressed as a percentage) of (a) 18.0% plus (b) the product of the
Adjusted Dilution Ratio and the Dilution Horizon Ratio, in each case, as of the
immediately preceding Cut-Off Date.

        2.    Representations and Warranties.    In order to induce Blue Ridge
and the Agent, on behalf of the other Purchasers, to enter into this Amendment,
each of the Seller Parties hereby represents and warrants to Blue Ridge and the
Agent, on behalf of the other Purchasers, as follows:

        (a)  The execution and delivery by such party of this Amendment, and the
performance of its obligations under the Purchase Agreement as amended hereby,
are within such party's organizational powers and authority and have been duly
authorized by all necessary organizational action on its part;

        (b)  This Amendment has been duly executed and delivered by such party,
and the Purchase Agreement, as amended hereby, constitutes such party's legal,
valid and binding obligation, enforceable against such party in accordance with
its terms, except as such enforcement may be limited by applicable bankruptcy,
insolvency, reorganization or other similar laws relating to or limiting
creditors' rights generally and by general principles of equity (regardless of
whether enforcement is sought in a proceeding in equity or at law), and

        (c)  As of the date hereof, no event has occurred and is continuing that
will constitute an Amortization Event or an Unmatured Amortization Event.

        3.    Conditions Precedent.    This Amendment shall become effective as
of the date first above written upon:

        (a)  execution and delivery to the Agent of a counterpart hereof by each
of the parties hereto,

        (b)  execution and delivery to the Agent of a counterpart of an amended
and restated Fee Letter by each of the parties thereto, and

        (c)  receipt by the Agent of a fully-earned and non-refundable amendment
fee of $10,000 in immediately available funds.

        4.    Miscellaneous.    

        (a)    CHOICE OF LAW.    THIS AMENDMENT SHALL BE GOVERNED AND CONSTRUED
IN ACCORDANCE WITH THE INTERNAL LAWS (AND NOT THE LAW OF CONFLICTS) OF THE STATE
OF NEW YORK.

        (b)    Counterparts.    This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed shall be deemed to be an original and all of which when
taken together shall constitute one and the same agreement.

        (c)    Ratification of Purchase Agreement.    Except as expressly
amended hereby, the Purchase Agreement remains unaltered and in full force and
effect and is hereby ratified and confirmed.

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        IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed and delivered by their duly authorized officers as of the date hereof.

    EDWARDS LIFESCIENCES FINANCING LLC

 
 
By:

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Name: Bruce J. Bentcover
Title: Chief Financial Officer
 
 
EDWARDS LIFESCIENCES LLC

 
 
By:

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Name: Bruce J. Bentcover
Title: Chief Financial Officer
 
 
BLUE RIDGE ASSET FUNDING CORPORATION
    BY: WACHOVIA BANK, N.A., ITS ATTORNEY IN FACT
 
 
By:

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Name:
Title:
 
 
WACHOVIA BANK, N.A., AS A LIQUIDITY BANK AND AS AGENT

 
 
By:

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Name:
Title:

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Exhibit 10.40

SECOND AMENDMENT TO RECEIVABLES PURCHASE AGREEMENT
PRELIMINARY STATEMENTS