Exhibit 10.48c

 

AMENDMENT NO. 2 TO LOAN AGREEMENT

 

This Amendment No. 2 (the "Amendment")dated as of September 20, 2013, is between Bank of America, N.A. (the "Bank") and American Shared Hospital Services (the"Borrower").

 

RECITALS

 

A.     The Bank and the Borrower entered into a certain Loan Agreement dated as of September 30, 2011 (together with any previous amendmentsor extension letters, the "Agreement").

 

 B.     The Bank and the Borrower desire to amend the Agreement. AGREEMENT

 

1.       Definitions. Capitalized terms used but not defined in this Amendment shall have the meaning given to them in the Agreement.

 

2.       Amendments. The Agreement is hereby amended as follows:

 

2.1	In Paragraph 1.2 (AvailabilityPeriod.), the date "August 1, 2015" is substituted for the date "August 1, 2014" as the new Facility No.1 Expiration Date.

 

2.2 	Any reference inthe Agreement to the "British Bankers Association LIBOR Rate" is amended to read as follows: "the British BankersAssociation LIBOR Rate (or any successor thereto approved by the Bank if the British Bankers Association is no longer making aLIBOR rate available)."

 

3.       Representations and Warranties, When the Borrower signs this Amendment, the Borrower represents and warrants to the Bankthat: (a) there is no event which is, or with notice or lapse of time or both would be, a default under the Agreement except thoseevents, if any, that have been disclosed in writing to the Bank or waived in writing by the Bank, (b) the representations and warrantiesin the Agreement are true as of the date of this Amendment as if made on the date of this Amendment, (c) this Amendment does notconflict with any law, agreement, or obligation by which the Borrower is bound, and (d) this Amendment is within the Borrower'spowers, has been duly authorized, and does not conflict with any of the Borrower's organizational papers.

 

4.       Effect of Amendment. Except as provided in this Amendment, all of the terms and conditions of the Agreement, including butnot limited to the Dispute Resolution Provision, shall remain in full force and effect.

 

5.       Counterparts. This Amendment may be executed in counterparts, each of which when so executed shall be deemed an original,but all such counterparts together shall constitute but one and the same instrument.

 

**6.    FINAL AGREEMENT. BY SIGNING THIS DOCUMENT EACH PARTY REPRESENTS AND AGREES THAT: (A) THIS DOCUMENT REPRESENTS THE FINALAGREEMENT BETWEEN PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF, (B) THIS DOCUMENT SUPERSEDES ANY COMMITMENT LETTER, TERM SHEETOR OTHER WRITTEN OUTLINE OF TERMS AND CONDITIONS RELATING TO THE SUBJECT MATTER HEREOF, UNLESS SUCH COMMITMENT LETTER, TERM SHEETOR OTHER WRITTEN OUTLINE OF TERMS AND CONDITIONS EXPRESSLY PROVIDES TO THE CONTRARY, (C) THERE ARE NO UNWRITTEN**

** **

****

****

 

**ORAL AGREEMENTS BETWEEN THE PARTIES, AND (D) THIS DOCUMENTMAY NOT BE CONTRADICTED BY EVIDENCE OF ANY PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR UNDERSTANDINGS OF THE PARTIES.**

 

This Amendment is executed as of the date statedat the beginning of this Amendment.

 

Bank of America, N.A.

 

By /s/ Kanika Agarwal

Typed Name: Kanika Agarwal

Title: Vice President

American Shared Hospital Services

 

By /s/Ernest A. Bates, M.D.

Ernest A. Bates, M.D.

Chairman of the Board