Document:

Exhibit
10.14

 

December 20, 2004

 

AAR CORP.

AAR Receivables Corporation II

1100 North Wood Dale Road

Wood Dale, IL 60191

 

Re:                               Amendment No. 4 to
Receivables Purchase Agreement dated as of March 21, 2003 (this “Amendment”)

 

Gentlemen:

 

AAR Receivables Corporation II, an Illinois corporation (“Seller”),
AAR Corp., a Delaware corporation in its individual capacity (in such capacity,
“AAR”) and as initial servicer (in such capacity, together with its
successors and permitted assigns in such capacity, “Servicer”), have
entered into a certain Receivables Purchase Agreement dated as of March 21,
2003 (as heretofore amended or otherwise modified, the “Agreement”;
capitalized terms used and not otherwise defined herein shall have the meanings
ascribed to them in the Agreement) with LaSalle Business Credit, LLC, a
Delaware limited liability company (individually, “LaSalle”), as agent
for itself and the Purchasers referred to below (in such capacity, together
with its successors and assigns in such capacity, “Agent”), and the
financial institutions from time to time parties thereto as “Purchasers.”  Seller, Servicer, Agent and the Purchasers
now desire to further amend the Agreement as provided herein, subject to the
terms and conditions hereinafter set forth.

 

In addition, AAR executed and delivered a certain Performance Guaranty
dated as of March 21, 2003 (the “Performance Guaranty”), which Agent and
Purchasers require to be reaffirmed as a condition to the effectiveness hereof.

 

NOW, THEREFORE, in consideration of the foregoing recitals, the mutual
covenants and agreements set forth herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto hereby agree as follows:

 

1.  Exhibit 1 of the
Agreement is hereby amended by amending and restating the definition of “Required
Purchasers” appearing therein in its entirety to read as follows:

 

“‘Required Purchasers’ means: (a) at any time
when there are two or fewer Purchasers, all of the Purchasers and (b) if there
are three or more Purchasers, (x)

 

 

at any time prior to the Facility Termination Date, Purchasers having
Pro Rata Shares aggregating to at least 51% and (ii) at any time after the
Facility Termination Date, Purchasers having outstanding Capital aggregating  to at least 51% of the aggregate Capital
outstanding at any such time.”

 

2.   Reaffirmations and
Representations:

 

2.1.          AAR
expressly hereby reaffirms, ratifies and assumes all of its obligations and
liabilities to Agent as set forth in the Performance Guaranty.  AAR further agrees to be bound by and abide
by and operate and perform under and pursuant to and comply fully with all of
the terms, conditions, provisions, agreements, representations, undertakings,
warranties, obligations and covenants contained in the Performance Guaranty, in
so far as such obligations and liabilities may be modified by this Amendment,
as though such Performance Guaranty were being re-executed on the date hereof,
except to the extent that such terms expressly relate to an earlier date.

 

2.2.          Except
as expressly amended hereby and by any other supplemental documents or
instruments executed by either party hereto in order to effectuate the
transactions contemplated hereby, the Agreement, the Exhibits thereto and other
Transaction Documents are hereby reaffirmed, ratified and confirmed by Seller,
AAR and Servicer and remain in full force and effect in accordance with the
terms thereof. Seller, AAR and Servicer expressly ratify, confirm and reaffirm
without condition, all liens and security interests granted to Agent pursuant
to the Agreement and the other Transaction Documents and to all extensions,
renewals, refinancings, amendments or modifications of any of the foregoing.

 

3.             The effectiveness
of this Amendment is subject to the satisfaction of the following conditions
precedent (unless specifically waived in writing by Agent):

 

3.1.          Agent
shall have received fully executed copies of this Amendment executed by all
parties hereto;

 

3.2.          All
proceedings taken in connection with the transactions contemplated by this
Amendment and all documents, instruments and other legal matters incident
thereto shall be reasonably satisfactory to Agent;

 

3.3.          The
representations and warranties set forth herein and in the Agreement are true and
correct in all material respects with the same effect as if such
representations and warranties had been made on the date hereof; and

 

3.4.          No
event has occurred, is continuing or would result herefrom that constitutes (a)
a Termination Event or (b) an Unmatured Termination Event.

 

4.             This Amendment may
be executed in one or more counterparts, each of which shall constitute an
original, but all of which taken together shall be one and the same instrument.
This Amendment may also be executed by facsimile and each 

 

 

facsimile signature hereto shall be deemed for all purposes to be an
original signatory page.

 

5.             This Amendment
shall be construed in accordance with and governed by the internal laws (as
distinguished from the conflicts of law provisions) of the State of Illinois.

 

6.             Seller, AAR and
Servicer hereby jointly and severally agree to reimburse Agent for all of its
out-of-pocket legal fees and expenses incurred in the preparation and
documentation of this Amendment and related documents.

 

	
   

  	
  LASALLE BUSINESS CREDIT, LLC,

  
	
   

  	
  as the sole Purchaser and as Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ JOHN MOSTOFI

  
	
   

  	
  Title:

  	
   Senior Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
  ACKNOWLEDGED AND AGREED TO

  	
   

  
	
  as of the date and year first above written

  	
   

  
	
   

  	
   

  
	
  AAR RECEIVABLES CORPORATION II, as Seller

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   /s/ MICHAEL K. CARR

  	
   

  	
   

  
	
  Title:

  	
   Assistant Treasurer

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  AAR CORP., as
  Servicer and 

  	
   

  
	
  Performance Guarantor

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   /s/MICHAEL
  K. CARR

  	
   

  	
   

  
	
  Title:

  	
   Vice PresidentEXHIBIT
10.113

 

STRAIGHT
NOTE

 

	
  $2,176,249

  	
   

  	
  South El Monte,
  California

  	
   

  	
  September 1, 2004

  	
   

  

 

For value received, Lee
Pharmaceuticals promises to pay Mark DiSalvo or order, at South El Monte,
California the sum of TWO MILLION ONE HUNDRED SEVENTY-SIX THOUSAND TWO HUNDRED
FORTY NINE DOLLARS, with interest from September 1, 2004, on unpaid principal
at the one month LIBOR rate; interest is payable monthly, commencing on October
1, 2004.  Interest shall be calculated on
the basis of the unpaid principal balance daily, based on a 365-day year,
actual day month and payable monthly. 
Principal and interest shall be payable in lawful money of the United
States.  If action were instituted on
this note, Lee Pharmaceuticals promises to pay such sum as the Court may fix as
attorney’s fees.  This note is secured by
the trademarks on the product brands Sloans, Cope, Saxon, Aloe E, Bikini Bare,
Aquafilter, Peterson’s Ointment, EVAC-U-GEN, Cheracol, Zonite, Rose Milk,
Femiron, One Step at a Time, Unguentine & Unguentine Plus, Cankaid, Sayman,
Medicone, OraStat, Black Draught, Take-Off, Brush ‘n Floss, Perma-Grip, Sigtab,
Citrocarbonate, Serutan, Lee, Lee Nails and Fancy Fingers.

 

 

This note cancels and
replaces the previous eleven (11) notes which were outstanding.

 

 

This note is due and
payable on December 1, 2005.

 

 

	
  SEPTEMBER 1, 2004

  	
   

  	
  RONALD G. LEE

  	
   

  
	
  Date

  	
   

  	
  Lee Pharmaceuticals -
  Ronald G. Lee

  
	
   

  	
   

  
	
   

  	
   

  
	
  SEPTEMBER 1, 2004

  	
   

  	
  MICHAEL L. AGRESTI

  	
   

  
	
  Date

  	
   

  	
  Lee Pharmaceuticals –
  Michael L. AgrestiExhibit 10.1

 

[INDICATED
PORTIONS OF THIS EXHIBIT HAVE BEEN REDACTED AND FILED

SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO

A REQUEST FOR
CONFIDENTIAL TREATMENT]

 

Interim Amendment to

Territory
License No. 6 and Data License Agreement

 

This amendment (“Interim
Amendment”) to the Data License Agreement (“Agreement”) dated December 1, 1999,
by and between NAVTEQ North America, LLC (formerly named Navigation
Technologies North America, LLC; formerly Navigation Technologies Corporation)(“NT”)
and Harman International Industries, Incorporated (“LICENSEE” or “Harman”) and
Territory License No. 6 (“TL6”) thereto dated January 1, 2002, including and
any and all amendments thereto (if any), is entered into by the parties as of
December 15, 2004 (“Effective Date”).

 

1.                    NT Party
and Assignment.  NAVTEQ Corporation,
formerly named Navigation Technologies Corporation, has assigned its rights and
obligations under the Agreement (including all Territory Licenses thereto) to
its subsidiary NAVTEQ North America, LLC. 
NAVTEQ Corporation’s European subsidiary, Navigation Technologies B.V.,
has changed its name to NAVTEQ B.V.

 

2.                    NAVTEQ Name.  All references to “NAVTECH” in the Agreement
and TL6 are hereby changed to “NAVTEQ”.

 

3.                    Extension.  The Expiration Date of the Agreement is
hereby extended to September 30, 2006, and the Expiration Date of TL6,
including the Distribution Services Addendum thereto, is hereby extended to
April 30, 2005.

 

4.                    Expansion
of Licensed Territory.  Under Section
II of TL6, effective as of August 1, 2004: [redacted]

 

5.                    Additional
NAVTEQ Data Content.  Effective as of
August 1, 2004, the licensed NAVTEQ Data content (see Section III.A of TL6)
shall additionally include the following data where generally released by NT:

 

[redacted]

 

6.                    Interim
License Fees.  The license fees set
forth in Exhibit C of TL 6 shall apply for US/Canada through October 31, 2004
and for Europe through July 31, 2004. 
For the subsequent periods for US/Canada and Europe, respectively,
through April 30, 2005 (i.e, for November 2004 through April 2005 for US/Canada
and for August 2004 through April 2005 for Europe), Section I.A of Exhibit C of
TL6 is amended and restated in its entirety as follows:

 

[redacted]

 

7.                    Confidentiality.
Without limitation to any other provision of the Agreement, the provisions of
this Interim Amendment are strictly confidential and LICENSEE shall not
disclose such information to any third party.

 

8.                    Definitive
Agreement.   In the absence of this Interim Agreement, TL6
would expire on December 31, 2004.  [redacted]

 

 

	
  NAVTEQ
  NORTH AMERICA, LLC

  	
  HARMAN
  INTERNATIONAL INDUSTRIES,

  
	
   

  	
  INCORPORATED

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Lawrence M. Kaplan

  	
   

  	
  /s/ Dr. Erich Geiger

  	
   

  
	
  Signature

  	
  Signature

  
				

 

1

 

	
  Lawrence M. Kaplan

  	
   

  	
  Dr. Erich Geiger

  	
   

  
	
  Name

  	
  Name

  
	
   

  	
   

  
	
  VP & General
  Counsel

  	
   

  	
  Executive Chairman

  	
   

  
	
  Title

  	
  Title

  

 

2

 

	
  NAVTEQ
  B.V.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Lawrence M. Kaplan

  	
   

  	
   

  
	
  Signature

  	
   

  
	
   

  	
   

  
	
  Lawrence M. Kaplan

  	
   

  	
   

  
	
  Name

  	
   

  
	
   

  	
   

  
	
  VP & General
  Counsel

  	
   

  	
   

  
	
  Title

  	
   

  

 

3

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