Document:

Exhibit 10.2

 

AMENDMENT
NO. 5

 

AMENDMENT NO. 5, dated as
of August 6, 2004 (this “Amendment”), to the Second Amended and Restated
Master Loan and Security Agreement, dated as of January 30, 2004 (as
amended, supplemented or otherwise modified prior to the date hereof, the “Existing
Loan Agreement”; as amended hereby and as further amended, restated,
supplemented or otherwise modified and in effect from time to time, the “Loan
Agreement”), by and among NC CAPITAL CORPORATION (“NC Capital”),
NEW CENTURY MORTGAGE CORPORATION (“New Century”), NC RESIDUAL II CORPORATION (“NCRII”,
together with NC Capital and New Century, collectively, the “Borrowers”,
each, a “Borrower”), MORGAN STANLEY BANK (“MSB”) and MORGAN
STANLEY MORTGAGE CAPITAL INC. (“MSMCI”) (MSMCI, in its capacity as a
lender, together with MSB, collectively, the “Lenders”, and in its
capacity as agent for the Lenders, together with any successors and assigns,
the “Agent”).  Capitalized terms
used but not otherwise defined herein shall have the meanings given to them in
the Existing Loan Agreement.

 

RECITALS

 

The Borrowers, the
Lenders and the Agent are parties to the Existing Loan Agreement.

 

The Borrowers, the
Lenders and the Agent have agreed, subject to the terms and conditions hereof,
that the definition of “Collateral Value” shall be amended as provided below.

 

Accordingly, the
Borrowers, the Lenders and the Agent hereby agree, in consideration of the
mutual premises and mutual obligations set forth herein, that the Existing Loan
Agreement is hereby amended as follows:

 

SECTION
1.  Amendment.  The definition of “Collateral Value” set forth in Section 1.01 of
the Existing Loan Agreement is hereby amended by (i) replacing the period set
forth at the end of clause (b)(vi) with a semicolon and (ii) inserting in
proper numerical order the following new clause (b)(vii):

 

“(vii)       which has been pledged to the Agent under
the Loan Agreement in excess of 120 calendar days.”

 

SECTION
2.  Conditions Precedent.  This Amendment shall become effective on the
first date (the “Amendment Effective Date”) that all of the following
conditions precedent shall have been satisfied:

 

2.1           Delivered Documents.  On the Amendment Effective Date, the Agent
shall have received the following documents, each of which shall be satisfactory
to the Agent in form and substance:

 

 

(a)           Amendment.  This Amendment, executed and delivered by a
duly authorized officer of each of the Borrowers, the Lenders and the Agent;
and

 

(b)           Other Documents.  Such other documents as the Agent or counsel
to the Agent may reasonably request.

 

2.2           No Default.  On the Amendment Effective Date, (i) each
Borrower shall be in compliance with all of the terms and provisions set forth
in the Existing Loan Agreement and the other Loan Documents on its part to be
observed or performed, (ii) the representations and warranties made and
restated by the Borrowers pursuant to Section 3 of this Amendment shall be true
and complete on and as of such date with the same force and effect as if made
on and as of such date and (iii) no Default shall have occurred and be
continuing on such date.

 

SECTION
3.  Representations and Warranties. Each of
the Borrowers hereby represents and warrants to the Agent and the Lenders, as
of the date hereof and as of the Amendment Effective Date, that it is in
compliance with all of the terms and provisions set forth in the Loan Documents
on its part to be observed or performed, and that no Default has occurred or is
continuing, and hereby confirms and reaffirms the representations and
warranties contained in Article VI of the Loan Agreement.

 

SECTION
4.  Limited Effect.  Except as expressly amended and modified by
this Amendment, the Existing Loan Agreement and each of the other Loan
Documents shall continue to be, and shall remain, in full force and effect in
accordance with its respective terms; provided, however, that upon the
Amendment Effective Date each reference therein and herein to the “Loan
Documents” shall be deemed to include, in any event, this Amendment and each
reference to the Loan Agreement in any of the Loan Documents shall be deemed to
be a reference to the Loan Agreement as amended hereby.

 

SECTION
5.  Counterparts.  This Amendment may be executed by each of the parties hereto on
any number of separate counterparts, each of which shall be an original and all
of which taken together shall constitute one and the same instrument.  Delivery of an executed counterpart of a
signature page to this Amendment in Portable Document Format (PDF) or by facsimile
transmission shall be effective as delivery of a manually executed original
counterpart thereof.

 

SECTION
6.  GOVERNING LAW. 
THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

[SIGNATURES FOLLOW]

 

2

 

IN WITNESS WHEREOF, the parties hereto have caused
this Amendment to be duly executed and delivered as of the day and year first
above written.

 

	
   

  	
  BORROWERS

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  NC CAPITAL CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ PATRICK
  FLANAGAN

  	
   

  
	
   

  	
   

  	
  Name: Patrick Flanagan

  
	
   

  	
   

  	
  Title: Chief Executive
  Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  NEW CENTURY MORTGAGE

  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ PATRICK
  FLANAGAN

  	
   

  
	
   

  	
   

  	
  Name: Patrick Flanagan

  
	
   

  	
   

  	
  Title: President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  NC
  RESIDUAL II CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ PATRICK
  FLANAGAN

  	
   

  
	
   

  	
   

  	
  Name: Patrick Flanagan

  
	
   

  	
   

  	
  Title: President

  

 

 

	
   

  	
  MORGAN STANLEY MORTGAGE

  CAPITAL INC., as Agent and as a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ PAUL J.
  NAJARIAN

  	
   

  
	
   

  	
   

  	
  Name: Paul J. Najarian

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MORGAN STANLEY BANK,
  as a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ PAUL J.
  NAJARIAN

  	
   

  
	
   

  	
   

  	
  Name: Paul J. Najarian

  
	
   

  	
   

  	
  Title: Vice PresidentExhibit 10.44

 

FIRST AMENDMENT TO LEASE

 

This FIRST
AMENDMENT TO LEASE (this “Amendment”)
is made and entered into as of June 2, 2004 (the “Effective Date”), by and between WATER
GARDEN COMPANY, L.L.C., a Delaware limited liability company (“Landlord”), and SPECIALTY LABORATORIES,
INC., a California corporation (“Tenant”).

 

1.              Recitals.

 

1.1          Lease.  Landlord and Tenant are parties to that
certain Office Lease dated as of January 12, 2004 (the “Lease”) for Premises located in the
Building and the Project (all as defined in the Lease), all as more
particularly described in the Lease.  All
terms defined in the Lease shall have the same meanings when used in this
Amendment, unless a different meaning is clearly expressed herein.

 

1.2          Amendment.  The parties hereto desire to amend the Lease
to modify certain termination rights of Tenant and to otherwise amend the Lease
on the terms and conditions set forth herein.

 

2.              Termination
Option.

 

2.1          Amendment of Dates.  As of the Effective Date, (a) the Early
Termination Date of September 1, 2004 in Article 2 of the Lease is
amended and restated as November 1, 2004, and (b) the final notice
date of June 1, 2004 in Article 2 of the Lease is amended and
restated as August 1, 2004.

 

2.2          Amendment of Base
Rent.  For
the calendar months of September, 2004 and October, 2004, Tenant shall pay as
Base Rent the amount of One Hundred Ten Thousand Eight Hundred Fifty-Two and
13/100 Dollars ($110,852.13) in lieu of the amount set forth in Section 6
of the Summary of Basic Lease Information. 
Base Rent for all other months of the Lease Term shall remain as stated
in the Summary and are not affected by this Amendment.

 

3.              Landlord’s Fees.

 

Tenant shall
pay all of Landlord’s actual, reasonable out-of-pocket attorneys’ fees arising
from the preparation and execution of this Amendment, within ten (10) days of
Tenant’s receipt of an invoice therefor from Landlord.

 

4.              Any Prior
Election Rescinded.

 

The parties
agree that upon the mutual execution and delivery of this Amendment by each of
Landlord and Tenant, any election of the Termination Option by Tenant dated
prior to the Effective Date shall be rescinded and of no further force and
effect.  In conjunction therewith, in the
event that Landlord received the Termination Fee from Tenant, then Landlord

 

1

 

shall refund any such Termination Fee to Tenant within five (5) days of
the Effective Date, without any interest thereon or owing with respect thereto.

 

5.              Miscellaneous.

 

5.1          Lease Ratified.  Except as specifically amended or modified
herein, each and every term, covenant, and condition of the Lease, as amended,
is hereby ratified and shall remain in full force and effect.

 

5.2          Lease Provisions
Incorporated. 
The following Sections of the Lease are incorporated herein as if fully
set forth herein, substituting the term “Amendment”, as a reference to this
Amendment, for the term “Lease”:  29.4,
29.5, 29.6, 29.7, 29.8, 29.15 and 29.16.

 

5.3          Counterparts.  This Amendment may be executed in any number
of counterparts, each complete set of which, when taken together, shall
constitute a single fully executed original Amendment.

 

[signatures appear on the following page]

 

2

 

IN WITNESS
WHEREOF, the parties hereto have executed this Amendment as of the date first
above written.

 

	
   

  	
  “Landlord”:

  
	
   

  	
   

  
	
   

  	
  WATER GARDEN
  COMPANY L.L.C.,

  
	
   

  	
  a Delaware
  limited liability company

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ HILARY
  SPANN

  	
   

  
	
   

  	
   

  	
  Hilary Spann

  
	
   

  	
   

  	
  Vice
  President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  “Tenant”:

  
	
   

  	
   

  	
   

  
	
   

  	
  SPECIALTY
  LABORATORIES, INC.,

  
	
   

  	
  a California
  corporation

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ NICHOLAS
  R. SIMMONS

  	
   

  
	
   

  	
   

  	
  Its:

  	
  General
  Counsel

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  	
   

  

 

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