Document:

Exhibit 10.32(b)

 

SECOND
AMENDMENT TO CREDIT AGREEMENT

 

THIS SECOND AMENDMENT TO CREDIT AGREEMENT (this “Amendment”)
is entered into as of April 13, 2005 by and among RELIANT PHARMACEUTICALS,
INC., a Delaware corporation, (the “Borrower”), the financial institutions
parties hereto, each as a Lender, MERRILL LYNCH CAPITAL, a division of Merrill
Lynch Business Financial Services Inc., as Agent, and each of the other Persons
who are signatories hereto (Borrower and each such Person is individually
referred to herein as a “Credit Party” and collectively as the “Credit
Parties”).

 

W I T N E S S E T H:

 

WHEREAS, Borrower, Agent and Lenders have entered
into that certain Credit Agreement dated as of August 19, 2004 (as the same has
been amended pursuant to that certain First Amendment to Credit Agreement dated
as of October 20, 2004 and may hereafter be amended, restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”); and

 

WHEREAS, the parties to the Credit Agreement desire
to amend the Credit Agreement on the terms and subject to the conditions set
forth herein; and

 

NOW, THEREFORE, in consideration of the mutual
agreements, provisions and covenants contained herein, the parties agree as
follows:

 

1. Defined Terms. Capitalized terms used but
not defined herein shall have the meanings ascribed to them in the Credit
Agreement.

 

2. Amendments.

 

(a)
Section 1.1 of the Credit Agreement is hereby amended by deleting the
definition of “Primary Collateral” contained therein in its entirety.

 

(b)
Section 1.1 of the Credit Agreement is hereby amended by deleting the
definition of “Borrowing Base Certificate” contained therein in its entirety
and substituting the following language therefor:

 

““Borrowing Base Certificate” means a certificate, duly executed
by either a Responsible Officer of Borrower or another Person consented to in
writing by Agent in Agent’s reasonable discretion, appropriately completed and
substantially in the form of Exhibit D hereto.”

 

(c)
Subsections 2.10(d),(e) and (i) of the Credit Agreement
are each hereby amended by replacing the term “Primary Collateral” contained
therein with the term “Collateral.”

 

1

 

(d) Subsection 4.1(a) of
the Credit Agreement is hereby deleted in its entirety, with the following
language substituted therefor:

 

“(a) (i) as soon as
practicable and in any event within thirty (30) days after the end of each of
the first two (2) months of each fiscal quarter of the Borrower’s Fiscal Year,
a consolidated balance sheet of Borrower and its Consolidated Subsidiaries as
at the end of such month and the previous Fiscal Year end and the related
consolidated statements of operations and cash flows for such month, and for
the portion of the Fiscal Year ended at the end of such month setting forth in
comparative form the figures for the corresponding periods of the previous
Fiscal Year, all in reasonable detail and certified by either a Responsible
Officer of Borrower or another Person consented to in writing by Agent in Agent’s
reasonable discretion, as fairly presenting, in all material respects, the
financial condition and results of operations of Borrower and its Consolidated
Subsidiaries and as having been prepared in accordance with GAAP applied on a
basis consistent with the audited financial statements of Borrower (subject to
changes resulting from audit and normal year end adjustments and the absence of
footnotes);

 

(ii) as soon as practicable
and in any event within the earlier to occur of (x) forty-five (45) days after the end of each of the first
three (3) fiscal quarters of the Borrower’s Fiscal Year or (y) five (5) days after the filing of the
SEC 10Q filing for such fiscal quarter, if applicable, a consolidated balance
sheet of Borrower and its Consolidated Subsidiaries as at the end of such
fiscal quarter and the previous Fiscal Year end and the related consolidated
statements of operations and cash flows for such fiscal quarter, and for the
portion of the Fiscal Year ended at the end of such fiscal quarter setting
forth in comparative form the figures for the corresponding periods of the
previous Fiscal Year, all in reasonable detail and certified by either a
Responsible Officer of Borrower, as fairly presenting, in all material
respects, the financial condition and results of operations of Borrower and its
Consolidated Subsidiaries and as having been prepared in accordance with GAAP
applied on a basis consistent with the audited financial statements of Borrower
(subject to changes resulting from audit and normal year end adjustments and
the absence of footnotes); and

 

(iii) as soon as practicable
and in any event within forty-five (45) days after the end of each Fiscal Year,
a consolidated balance sheet of Borrower and its Consolidated Subsidiaries as
at the end of such Fiscal Year and the previous Fiscal Year end and the related
consolidated statements of operations and cash flows for the last month of such
Fiscal Year, and for such Fiscal Year in its entirety, setting forth in
comparative form the figures for the corresponding periods of the previous
Fiscal Year, all in reasonable detail, prepared in accordance with GAAP applied
on a basis consistent with the audited financial statements of Borrower
(subject to changes resulting from audit and normal year end adjustments and
the absence of footnotes);”

 

2

 

(e) Subsection 4.1(b) of
the Credit Agreement is hereby deleted in its entirety, with the following
language substituted therefor:

 

“(b) as soon as available and
in any event within the earlier to occur of (x)
ninety (90) days after the end of each Fiscal Year or (y) five (5) days after the filing of the
SEC 10K filing for such Fiscal Year, if applicable, a consolidated balance
sheet of Borrower and its Consolidated Subsidiaries as of the end of such
Fiscal Year and the related consolidated statements of operations, stockholders’
equity and cash flows for such Fiscal Year, setting forth in each case in
comparative form the figures for the previous Fiscal Year, certified by a
Responsible Officer of Borrower (solely with respect to such consolidated
statements) without material qualification or exception (by Ernst & Young,
LLP or another independent public accountant reasonably acceptable to Agent of
nationally recognized standing) which qualification or exception would, in
either case, be reasonably be expected to have a Material Adverse Effect;”

 

(f)
Subsection 4.1(c) of the Credit Agreement is hereby deleted in its
entirety, with the following language substituted therefor:

 

“
(c) together with each delivery of financial statements pursuant to Subsections
4.1(a)(ii) and 4.1(b), a Compliance Certificate;”

 

(g) Section 4.9 of the
Credit Agreement is hereby deleted in its entirety, with the following language
substituted therefor:

 

“Section
4.9 Further Assurances.

 

Borrower will, and will
cause each Subsidiary to, at its own cost and expense, cause to be promptly and
duly taken, executed, acknowledged and delivered all such further acts,
documents and assurances as may from time to time be necessary or as Agent or
the Required Lenders may from time to time reasonably request in order to carry
out the intent and purposes of the Financing Documents and the transactions
contemplated thereby, including all such actions to establish, preserve,
protect and perfect a first priority Lien (subject only to Permitted Liens) in
favor of Agent for the benefit of Lenders on the Collateral (including
Collateral acquired after the date hereof), whether now owned or hereafter
acquired. Borrower will cause each hereafter acquired Subsidiary to, within ten
(10) Business Days of the acquisition of such Subsidiary and at its own cost
and expense, execute a joinder to the Subsidiary Guaranty and the Subsidiary
Security Agreement, and such other documents and agreements as Agent may
reasonably require to obtain a first priority perfected security interests in
the assets of such Subsidiary constituting Collateral (as such term is defined
in that certain Second Amended and Restated Security Agreement dated April 13,
2005 by and between Borrower and Agent) of such Subsidiary (subject to
Permitted Liens, and otherwise consistent with the Security Interests granted
to Agent by Borrower in the Security Documents), all in form an substance
reasonably acceptable to Agent.

 

(h) Section 5.2 of the
Credit Agreement is hereby amended by replacing the term “Primary Collateral”
contained in the second line thereof with the term “Collateral.”

 

3

 

(i)
Subsection 5.2 of the Credit Agreement is hereby amended by deleting
clause (m) thereof in its entirety and substituting the following language
therefor:

 

“ (m) Liens which are
subordinate to the Agent’s Lien in the Collateral pursuant to an intercreditor
agreement, in form and substance satisfactory to Agent in its sole and absolute
discretion.”

 

(j)
Sections 5.6 and 5.12 of the Credit Agreement are hereby amended
by replacing each usage of the term “Primary Collateral” contained therein with
the term “Collateral.”

 

3. Conditions. The effectiveness of this
Amendment is subject to the following conditions precedent:

 

	
  (a)

  	
  the execution and delivery of this Amendment by
  each Credit Party, Agent and Required Lenders;

  
	
   

  	
   

  
	 
	
  (b)

  	
  the
  execution and delivery of an Working Capital Collateral Intercreditor
  Agreement by and among each of the Borrower, Agent, The Bank of New York, in
  its capacity as “First-Term Lienholder” thereunder, Silver Point Finance,
  LLC, in its capacity as “Second-Term Lienholder” thereunder and Goldman Sachs
  Credit Partners L.P., in its capacity as “Third-Term Lienholder” thereunder,
  in form and substance satisfactory to Agent;

  
	 
	
   

  	
   

  
	 
	
  (c)

  	
  the
  receipt by Agent, for the benefit of the Lenders, of an amendment and lien
  release fee in and amount equal to $100,000; and

  
	 
	
   

  	
   

  
	 
	
  (d)

  	
  the
  truth and accuracy of the representations and warranties contained in Section
  4 hereof in all material respects.

  
			

 

4. Representations and Warranties. Each
Credit Party hereby represents and warrants to Agent and each Lender as
follows:

 

	
  (a)

  	
  the
  representations and warranties of each Credit Party contained in the
  Financing Documents are true and correct as of the date hereof in all
  material respects, except to the extent that any such representation or
  warranty relates to a specific date, in which case such representation and
  warranty shall be true and correct as of such earlier date;

  
	
   

  	
   

  
	
  (b)

  	
  the
  execution, delivery and performance by each Credit Party, as applicable, of
  this Amendment are within its powers, have been duly authorized by all necessary
  action pursuant to its Organizational Documents, require no further action by
  or in respect of, or filing with, any governmental body, agency or official
  and do not violate, conflict with or cause a breach or a default under any
  provision of applicable law or regulation or of the Organizational Documents
  of any Credit Party or of any agreement, judgment, injunction, order, decree
  or other instrument binding upon it;

  

 

4

 

	
  (c)

  	
  this
  Amendment constitutes the valid and binding obligation of the Credit Parties,
  enforceable against such Credit Parties in accordance with its terms, except
  as the enforceability hereof may be limited by applicable bankruptcy,
  insolvency, or similar laws relating to the enforcement of creditor’s rights
  generally and by general equitable principles; and

  
	
   

  	
   

  
	
  (d)

  	
  no
  Default or Event of Default exists.

  

 

5. No Waiver. Nothing contained herein shall
be deemed to constitute a waiver of compliance with the financial covenants
contained in Article 7 of the Credit Agreement, a waiver of compliance
with any other term or condition contained in the Credit Agreement or any of
the other Financing Documents or constitute a course of conduct or dealing
among the parties. Except as expressly stated herein, Agent and Lender reserve
all rights, privileges and remedies under the Financing Documents. Except as
amended hereby, the Credit Agreement and other Financing Documents remain
unmodified and in full force and effect. All references in the Financing Documents
to the Credit Agreement shall be deemed to be references to the Credit
Agreement as amended hereby.

 

6. Severability. In case any provision of or
obligation under this Amendment shall be invalid, illegal or unenforceable in
any jurisdiction, the validity, legality and enforceability of the remaining
provisions or obligations, or of such provision or obligation in any other
jurisdiction, shall not in any way be affected or impaired thereby.

 

7. Headings. Headings and captions used in
this Amendment (including the Exhibits, Schedules and Annexes hereto, if any)
are included for convenience of reference only and shall not be given any
substantive effect.

 

8. GOVERNING LAW; SUBMISSION TO
JURISDICTION. THIS AMENDMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED
AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF ILLINOIS, WITHOUT
REGARD TO CONFLICTS OF LAWS PRINCIPLES. EACH CREDIT PARTY HEREBY CONSENTS TO
THE JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED WITHIN THE COUNTY OF
COOK, STATE OF ILLINOIS AND IRREVOCABLY AGREES THAT, SUBJECT TO AGENT’S
ELECTION, ALL ACTIONS OR PROCEEDINGS ARISING OUT OF OR RELATING TO THIS
AMENDMENT OR THE OTHER FINANCING DOCUMENTS SHALL BE LITIGATED IN SUCH COURTS.
EACH CREDIT PARTY EXPRESSLY SUBMITS AND CONSENTS TO THE JURISDICTION OF THE
AFORESAID COURTS AND WAIVES ANY DEFENSE OF FORUM NON CONVENIENS. EACH CREDIT
PARTY HEREBY WAIVES PERSONAL SERVICE OF ANY AND ALL PROCESS AND AGREES THAT ALL
SUCH SERVICE OF PROCESS MAY BE MADE UPON SUCH PERSON BY CERTIFIED OR REGISTERED
MAIL, RETURN RECEIPT REQUESTED, ADDRESSED C/O BORROWER AT THE ADDRESS SET FORTH
IN THE CREDIT AGREEMENT AND SERVICE SO MADE SHALL BE COMPLETE TEN (10) DAYS
AFTER THE SAME HAS BEEN POSTED.

 

10. WAIVER OF JURY TRIAL.
EACH CREDIT PARTY, AGENT AND THE LENDERS HEREBY IRREVOCABLY WAIVE ANY AND ALL
RIGHT TO TRIAL BY

 

5

 

JURY IN ANY LEGAL ACTION OR PROCEEDING ARISING OUT OF
OR RELATING TO THE FINANCING DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED THEREBY
AND AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND
NOT BEFORE A JURY.

 

11. Waiver.
Borrower and each other Credit Party, on behalf of each such Credit
Party and their respective executors, successors and assigns, hereby waives,
releases and discharges Agent and the Lenders and all of the affiliates,
directors, officers, employees, attorneys and agents of Agent and the Lenders,
from any and all claims, demands, actions or causes of action arising out of or
in any way relating to the Financing Documents occurring on or before the date
hereof and any documents, agreements, dealings or other matters connected with
the Financing Documents, including, without limitation, all known and unknown
matters, claims or transactions occurring on or before the date hereof.

 

12.  Counterparts;
Integration.  This Amendment
may be executed and delivered via facsimile with the same force and effect as
if an original were executed and may be signed in any number of counterparts,
each of which shall be an original, with the same effect as if the signatures
hereto were upon the same instrument. This Amendment constitutes the entire
agreement and understanding among the parties hereto with respect to the
subject matter hereof and supersede any and all prior agreements and
understandings, oral or written, relating to the subject matter hereof.

 

13. Reaffirmation. Each of the Credit Parties
as debtor, grantor, guarantor, assignor, as applicable, or in any other similar
capacity in which such Credit Party grants liens or security interests in its
property or otherwise acts as accommodation party or guarantor, as the case may
be, hereby (i) ratifies and reaffirms all of its payment and performance
obligations, contingent or otherwise, under each of the Financing Documents to
which it is a party (after giving effect hereto) and (ii) to the extent such
Credit Party granted liens on or security interests in any of its property
pursuant to any such Financing Document as security for or otherwise guaranteed
the Borrower’s Obligations under or with respect to the Financing Documents,
ratifies and reaffirms such guarantee and grant of security interests and liens
and confirms and agrees that such security interests and liens hereafter secure
all of the Obligations as amended hereby. Each of the Credit Parties hereby
consents to this Amendment and acknowledges that each of the Financing
Documents remains in full force and effect and is hereby ratified and
reaffirmed. The execution of this Amendment shall not operate as a waiver of any
right, power or remedy of the Agent or Lenders, constitute a waiver of any
provision of any of the Financing Documents or serve to effect a novation of
the Obligations.

 

[ Remainder
of Page Intentionally Left Blank; Signature Page Follows ]

 

6

 

IN WITNESS WHEREOF, the parties have executed this
Amendment as of the date set forth above.

 

	
   

  	
  CREDIT PARTIES:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  RELIANT PHARMACEUTICALS, INC., a

  	
   

  
	
   

  	
  Delaware
  corporation

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  RP SUB NO. 1, INC., a Delaware corporation

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  AGENT AND LENDERS:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MERRILL LYNCH CAPITAL, a division of

  	
   

  
	
   

  	
  Merrill
  Lynch Business Financial Services Inc.,

  	
   

  
	
   

  	
  as
  Agent and as a Lender

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Second
  Amendment to Credit AgreementEXHIBIT 10.32(c)

 

THIRD AMENDMENT TO CREDIT AGREEMENT

 

THIS THIRD
AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is entered into as of
March 9, 2007 by and among RELIANT PHARMACEUTICALS, INC., a Delaware
corporation (the “Borrower”), the financial institutions parties hereto,
each as a Lender, and MERRILL LYNCH CAPITAL, a division of Merrill Lynch
Business Financial Services Inc., as Agent.

 

W I T N E S S E T H:

 

WHEREAS, the
Borrower, Agent and Lenders have entered into that certain Credit Agreement
dated as of August 19, 2004 (as the same has been amended pursuant to that
certain First Amendment to Credit Agreement dated as of October 20, 2004,
that certain Second Amendment to Credit Agreement dated as of April 13,
2005, and may hereafter be amended, restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”); and

 

WHEREAS, the
parties to the Credit Agreement desire to amend the Credit Agreement on the
terms and subject to the conditions set forth herein; and

 

NOW,
THEREFORE, in consideration of the mutual agreements, provisions and covenants
contained herein, the parties agree as follows:

 

1.                                      Defined
Terms.  Capitalized terms used but
not defined herein shall have the meanings ascribed to them in the Credit
Agreement.

 

2.                                      Amendments.

 

(a)                                  Section
1.1 of the Credit Agreement is hereby amended by deleting the definition of
“Borrowing Base” contained therein in its entirety and substituting the
following language therefor:

 

“Borrowing Base” means, as of any date
of calculation, a dollar amount calculated pursuant to the Borrowing Base
Certificate most recently delivered to Agent in accordance with the terms
hereof, equal to the sum of eighty-five percent (85%) of Eligible Accounts
minus reserves then established by Agent in its commercially reasonable credit
judgment, which reserves shall be reasonably determined by Agent based upon
objective changes in the collection performance of Borrower’s Accounts (whether
in the aggregate or on an account debtor by account debtor basis).  Notwithstanding the foregoing, in no event
shall (i) the aggregate Eligible Accounts receivable from Novartis
constitute more than seventy-five percent (75%) of all Eligible Accounts used
in the calculation of the Borrowing Base, (ii) the aggregate Eligible Accounts
receivable from each of Cardinal Health, McKesson Corporation or
AmerisourceBergen Services Corporation individually (and not collectively)
constitute more than fifty-five percent (55%) of all Eligible Accounts used in
the

 

1

 

calculation of
Borrowing Base, or (iii) the aggregate Eligible Accounts receivable from
any other Account Debtor constitute more than twenty-five percent (25%) of all
Eligible Accounts used in the calculation of the Borrowing Base.’.

 

(b)                                  Section
1.1 of the Credit Agreement is hereby further amended by deleting the
definition of “Commitment Expiry Date” contained therein in its entirety and
substituting the following language therefor:

 

“Commitment Expiry Date” shall mean March 31, 2012.

 

(c)                                  Section
1.1 of the Credit Agreement is hereby further amended by deleting the
definition of “Information Certificate” contained therein in its entirety and
substituting the following language therefor:

 

‘“Information Certificate” means that certain Amended and
Restated Information Certificate dated as of the Third Amendment Effective Date
executed by Borrower and delivered to Agent, as amended pursuant to Section
12.7 hereof.’.

 

(d)                                  Section
1.1 of the Credit Agreement is hereby further amended by deleting the
definition of “LIBOR Margin” contained therein in its entirety and substituting
the following language therefor:

 

‘“LIBOR Margin” means two and one quarter of one percent
(2.25%) per annum.’.

 

(e)                                  Section
1.1 of the Credit Agreement is hereby further amended by adding the following
definitions of “IP Subsidiary” and “Third Amendment Effective Date” thereto in
the appropriate alphabetical order:

 

‘“IP Subsidiary” means each of RP Sub No. 3(R), Inc., a
Massachusetts corporation, RP Sub No. 4(I), Inc., a Massachusetts corporation,
RP Sub No. 5(D), Inc., a Massachusetts corporation and RP Sub No. 6(O),
Inc., a Massachusetts corporation.’; and

 

‘“Third Amendment Effective Date” means March 9, 2007.’.

 

(f)                                    Subsection
2.3(b) of the Credit Agreement is hereby amended by deleting the phrase “one
half of one percent (0.50%) per annum” therefrom and substituting the phrase “forty-two
one hundredths of one percent (0.42%) per annum” therefor.

 

(g)                                 Subsection
2.3(d) of the Credit Agreement is hereby amended by deleting such subsection in
its entirety and substituting the following language therefor:

 

“(d)                           Deferred Commitment Fee.  If, prior to the eighteenth calendar month
anniversary of the Third Amendment Effective Date, (i) Borrower
permanently prepays the Obligations in full and terminates

 

2

 

the
Commitments, or (ii) the Lenders terminate the Revolving Loan Commitment
after the occurrence of an Event of Default, Borrower shall pay to Agent, for
the benefit of Lenders, as compensation for the costs of Lenders being prepared
to make funds available to Borrower under this Agreement, an amount determined
by multiplying the percentage set forth below by $40,000,000:  one percent (1.0%) for the first twelve (12)
months following the Third Amendment Effective Date and one half of one half
percent (0.5%) for the thirteenth through eighteenth months following the Third
Amendment Effective Date.  No amount will
be payable pursuant to this paragraph if Borrower voluntarily prepays the
Obligations in full or the Lenders terminate the Revolving Loan Commitment due
to, and during the continuance of an Event of Default after the eighteenth
calendar month anniversary of the Third Amendment Effective Date.  Notwithstanding the foregoing subsection
2.3(d), in the event that Agent exercises its right to implement reserves
or new eligibility criteria not specifically provided for in the Agreement
(other than adjustments to Liquidity Factors), and the effect of the
implementation of such reserves or new eligibility criteria is to reduce the
available Borrowing Base by more than twenty percent (20%) in comparison to the
Borrowing Base calculated without the effect of such reserves or new
eligibility criteria, Borrower shall be permitted to voluntarily and
permanently prepay the Obligations in full and terminate the Revolving Loan
Commitments without incurring the deferred commitment fee otherwise imposed
under this subsection 2.3(d).”

 

(h)                                 Article 3
of the Credit Agreement is hereby amended by adding the following language
thereto immediately following Section 3.23 thereof as a new Section 3.24.

 

“Section 3.24                          Special Purpose Intellectual Property Subsidiaries.

 

Except for the
ownership of the Intellectual Property described on Schedule F to the
Information Certificate, the performance of its respective obligations to the
Borrower in respect of licenses of such Intellectual Property to the Borrower,
and the maintenance of its corporate existence and activities incidental
thereto, no IP Subsidiary owns any assets, has any liabilities or conducts any
business or operations.”

 

(i)                                    Section
4.9 of the Credit Agreement is hereby amended by deleting such section in its
entirety and substituting the following language therefor:

 

“Section 4.9                                Further
Assurances.

 

Borrower will,
and will cause each Subsidiary to, at its own cost and expense, cause to be
promptly and duly taken, executed, acknowledged and delivered, all such further
acts, documents, agreements and assurances as may from time to time be
necessary or as Agent or the

 

3

 

Required
Lenders may from time to time reasonably request in order to carry out the
intent and purposes of the Financing Documents and the transactions
contemplated thereby, including all such actions to establish, preserve,
protect and perfect a first priority Lien (subject only to Permitted Liens) in
favor of Agent for the benefit of Agent and the Lenders on the Collateral
(including Collateral acquired after the date hereof), whether now owned or
hereafter acquired.  Borrower will cause
each hereafter organized or acquired Subsidiary to, within ten (10) Business
Days of the organization or acquisition of such Subsidiary, and at its own cost
and expense, execute a guaranty (in form and content acceptable to Agent)
guaranteeing payment and performance of all of the Obligations and to take such
other action (including, without limitation, authorizing the filing of UCC
financing statements) as shall be necessary or appropriate to establish,
create, preserve, protect and perfect a first priority Lien in favor of Agent,
for the benefit of Agent and the Lenders, on the assets of such Subsidiary
constituting “Collateral” (as such term is defined in that certain Second
Amended and Restated Security Agreement dated as of April 13, 2005 between
Borrower and Agent, though with each reference to the Borrower contained in
such definition being deemed to be a reference to such Subsidiary) of such
Subsidiary (subject only to Permitted Liens and otherwise consistent with the
security Interests granted to Agent by Borrower in the Security Documents), all
in form and substances reasonably acceptable to Agent.  Notwithstanding the foregoing or anything
contained in this Credit Agreement or the other Financing Documents to the
contrary, so long as the Borrower complies with the covenant set forth in
Section 5.13 hereof, No IP Subsidiary shall be required to execute a Guarantee
of the Obligations or a security agreement granting Liens on any of its assets
to secure the payment and performance of the Obligations.  In the event that the covenant set forth in
Section 5.13 is breached, the Borrower shall promptly (and in any event within
five (5) Business Days) cause each IP Subsidiary to comply with the provisions
of this Section 4.9 and execute a Guarantee and security agreement in
accordance with the terms of hereof.”

 

(j)                                    Article
5 of the Credit Agreement is hereby amended by adding the following language
thereto immediately following Section 5.12 thereof as a new Section 5.13:

 

“Section 5.13                          IP Subsidiaries.

 

Borrower will
not cause, nor will it permit any IP Subsidiary to own any assets, have any
liabilities or conduct any business or operations other than the ownership of
the Intellectual Property described on Schedule F to the Information
Certificate, the performance of its respective obligations to the Borrower in
respect of licenses of such Intellectual Property to the Borrower, and the
maintenance of its corporate existence and activities incidental thereto.”

 

4

 

(k)                                Sections
3.1, 3.4, 3.6, 3.9, 3.12, 3.17, 3.19 and 3.20 of the Credit Agreement are
hereby amended by deleting each reference to “Closing Date” contained therein
in their entirety and substituting “Third Amendment Effective Date” therefor.

 

(l)                                    The
“Borrower’s Account Designation” set forth on the signature page of the
Borrower to the Credit Agreement is hereby amended by deleting such “Borrower’s
Account Designation” in its entirety and substituting the following language
therefor:

 

	
  Bank:

  	
  JPMorgan Chase Bank

  
	
  ABA Number:

  	
  021000021

  
	
  Account Name:

  	
  Reliant Operating Account

  
	
  Account Number:

  	
  957083718

  

 

(m)                              Annex
A to the Credit Agreement is hereby amended by deleting such annex in its
entirety and substituting the revised annex attached hereto as Exhibit A
therefore.

 

(n)                                 Exhibit
D to the Credit Agreement is hereby amended by deleting such exhibit in its
entirety and substituting the revised exhibit attached hereto as Exhibit B
therefore.

 

3.                                      Conditions.  The effectiveness of this Amendment is
subject to the following conditions precedent:

 

(a)                                  the
execution and delivery of this Amendment by the Borrower, Agent and the
Lenders;

 

(b)                                 the
execution and delivery to Agent of an Intercreditor Agreement between Agent and
Goldman Sachs Credit Partners, L.P., as collateral agent for the term loan
lenders referenced therein, which Intercreditor Agreement shall be in form and
substance satisfactory to Agent;

 

(c)                                  Agent
shall have received each document, item and agreement set forth on Exhibit C
hereto, in each case, in form and substance satisfactory to Agent.

 

4.                                      Representations
and Warranties.  Borrower hereby
represents and warrants to Agent and each Lender as follows:

 

(a)                                  the
representations and warranties of Borrower contained in the Financing Documents
(as amended hereby) are true and correct as of the date hereof in all respects,
except to the extent that any such representation or warranty relates to a
specific date, in which case such representation and warranty shall be true and
correct as of such earlier date;

 

(b)                                 the
execution, delivery and performance by Borrower of this Amendment are within
its powers, have been duly authorized by all necessary action pursuant to its
Organizational Documents, require no further action by or

 

5

 

in respect of,
or filing with, any governmental body, agency or official and do not violate,
conflict with or cause a breach or a default under any provision of applicable
law or regulation or of the Organizational Documents of Borrower or of any
agreement, judgment, injunction, order, decree or other instrument binding upon
it;

 

(c)                                  this
Amendment constitutes the valid and binding obligation of the Borrowers,
enforceable the Borrower in accordance with its terms, except as the
enforceability hereof may be limited by applicable bankruptcy, insolvency, or
similar laws relating to the enforcement of creditor’s rights generally and by
general equitable principles; and

 

(d)                                 no
Default or Event of Default has occurred and is continuing.

 

5.                                      Limited
Consent.  Administrative Agent and
the Lenders hereby (i) consent to the execution and delivery by Borrower of
that certain Credit and Guaranty Agreement dated as of the date hereof among
the Borrower, certain Subsidiaries of Borrower, Goldman Sachs Credit Partners,
LP., as Administrative Agent and Collateral Agent (as such terms are defined
therein) and the lenders party thereto, and the usage by Borrower of a portion
of the loan proceeds received thereunder to repay in full the indebtedness of
the Borrower under the First-Term Lien Documents and the Third-Term Lien
Documents (as such terms are defined in that certain Working Capital Intercreditor
Agreement dated as of April 13, 2005), and (ii) acknowledge and agree that
that certain Working Capital Facility Intercreditor Agreement dated as of the
date hereof between Administrative Agent and Goldman Sachs Credit Partners,
L.P., as Collateral Agent, is in form and substance satisfactory to
Administrative Agent and the Lenders.

 

6.                                      No
Waiver.  Nothing contained herein
shall be deemed to constitute a waiver of compliance with any term or condition
contained in the Credit Agreement or any of the other Financing Documents, or
constitute a course of conduct or dealing among the parties.  Except as expressly stated herein, Agent and
the Lenders reserve all rights, privileges and remedies under the Financing
Documents.  Except as amended hereby, the
Credit Agreement and other Financing Documents remain unmodified and in full
force and effect.  All references in the
Financing Documents to the Credit Agreement shall be deemed to be references to
the Credit Agreement as amended hereby. 
This Amendment shall constitute a Financing Document.

 

7.                                      Severability.  In case any provision of or obligation under
this Amendment shall be invalid, illegal or unenforceable in any jurisdiction,
the validity, legality and enforceability of the remaining provisions or
obligations, or of such provision or obligation in any other jurisdiction,
shall not in any way be affected or impaired thereby.

 

8.                                      Headings.  Headings and captions used in this Amendment
(including the Exhibits, Schedules and Annexes hereto, if any) are included for
convenience of reference only and shall not be given any substantive effect.

 

9.                                      GOVERNING
LAW; SUBMISSION TO JURISDICTION. 
THIS AMENDMENT SHALL BE GOVERNED BY, AND SHALL BE
CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF ILLINOIS,

 

6

 

WITHOUT
REGARD TO CONFLICTS OF LAWS PRINCIPLES. 
THE BORROWER HEREBY CONSENTS TO THE JURISDICTION OF ANY STATE OR FEDERAL
COURT LOCATED WITHIN THE COUNTY OF COOK, STATE OF ILLINOIS AND IRREVOCABLY
AGREES THAT, SUBJECT TO AGENT’S ELECTION, ALL ACTIONS OR PROCEEDINGS ARISING
OUT OF OR RELATING TO THIS AMENDMENT OR THE OTHER FINANCING DOCUMENTS SHALL BE
LITIGATED IN SUCH COURTS.  THE BORROWER
EXPRESSLY SUBMITS AND CONSENTS TO THE JURISDICTION OF THE AFORESAID COURTS AND
WAIVES ANY DEFENSE OF FORUM NON CONVENIENS. 
THE BORROWER HEREBY WAIVES PERSONAL SERVICE OF ANY AND ALL PROCESS AND
AGREES THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE UPON SUCH PERSON BY
CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED, ADDRESSED C/O BORROWER
AT THE ADDRESS SET FORTH IN THE CREDIT AGREEMENT AND SERVICE SO MADE SHALL BE
COMPLETE TEN (10) DAYS AFTER THE SAME HAS BEEN POSTED.

 

10.                               WAIVER
OF JURY TRIAL.  THE BORROWER, AGENT AND THE LENDERS HEREBY IRREVOCABLY WAIVE ANY AND
ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO THE FINANCING DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED THEREBY
AND AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND
NOT BEFORE A JURY.

 

11.                               Waiver.  Borrower, on behalf of itself and its
executors, successors and assigns, hereby waives, releases and discharges Agent
and the Lenders and all of the affiliates, directors, officers, employees,
attorneys and agents of Agent and the Lenders, from any and all claims,
demands, actions or causes of action arising out of or in any way relating to
the Financing Documents occurring on or before the date hereof and any
documents, agreements, dealings or other matters connected with the Financing
Documents, including, without limitation, all known and unknown matters, claims
or transactions occurring on or before the date hereof.

 

12.                               Counterparts;
Integration.  This Amendment may be
executed and delivered via facsimile with the same force and effect as if an
original were executed and may be signed in any number of counterparts, each of
which shall be an original, with the same effect as if the signatures hereto
were upon the same instrument.  This
Amendment constitutes the entire agreement and understanding among the parties
hereto with respect to the subject matter hereof and supersede any and all
prior agreements and understandings, oral or written, relating to the subject
matter hereof.

 

13.                               Costs
and Expenses.  Borrower hereby
affirms and acknowledges that Section 10.1 of the Credit Agreement applies to
this Amendment and the transactions contemplated hereunder.

 

14.                               Reaffirmation.  Borrower, as debtor, grantor, assignor, as
applicable, or in any other similar capacity in which Borrower grants liens or
security interests in its property or otherwise acts as accommodation party or
guarantor, as the case may be, hereby (i) ratifies and reaffirms all of
its payment and performance obligations, contingent or otherwise, under each of

 

7

 

the Financing Documents to
which it is a party (after giving effect hereto) and (ii) to the extent
the Borrower granted liens on or security interests in any of its property
pursuant to any such Financing Document as security for the Obligations under
or with respect to the Financing Documents, ratifies and reaffirms such grant
of security interests and liens and confirms and agrees that such security
interests and liens hereafter secure all of the Obligations as amended
hereby.  The Borrower acknowledges that
each of the Financing Documents remains in full force and effect and is hereby
ratified and reaffirmed.  The execution
of this Amendment shall not operate as a waiver of any right, power or remedy
of the Agent or Lenders, constitute a waiver of any provision of any of the
Financing Documents or serve to effect a novation of the Obligations.

 

15.                               Further
Assurance.  Borrower hereby agrees
to, from time to time, as and when requested by the Agent or the Required
Lenders, to execute and deliver or cause to be executed and delivered, all such
documents, instruments and agreements and to take or cause to be taken such
further or other action as the Agent or the Required Lenders may reasonably
deem necessary or desirable in order to carry out the intent and purposes of
this Amendment.

 

- Remainder of Page Intentionally Left Blank;
Signature Page Follows -

 

8

 

IN WITNESS
WHEREOF, the parties have executed this Amendment as of the date set forth
above.

 

	
   

  	
  BORROWER:

  
	
   

  	
   

  
	
   

  	
  RELIANT
  PHARMACEUTICALS, INC.,

  
	
   

  	
  a Delaware
  corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  AGENT
  AND LENDERS:

  
	
   

  	
   

  
	
   

  	
  MERRILL
  LYNCH CAPITAL, a division of

  
	
   

  	
  Merrill
  Lynch Business Financial Services Inc.,

  
	
   

  	
  as Agent and
  as a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
						

 

 

IN WITNESS
WHEREOF, the parties have executed this Amendment as of the date set forth
above.

 

	
   

  	
  BORROWER:

  
	
   

  	
   

  
	
   

  	
  RELIANT
  PHARMACEUTICALS, INC., a

  
	
   

  	
  Delaware
  corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  AGENT
  AND LENDERS:

  
	
   

  	
   

  
	
   

  	
  MERRILL
  LYNCH CAPITAL, a division of

  
	
   

  	
  Merrill
  Lynch Business Financial Services Inc., as

  
	
   

  	
  Agent and as
  a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
						

 

 

Exhibit A to Third Amendment to Credit
Agreement

 

Annex A

 

Commitment Annex

 

	
  Lender

  	
   

  	
  Revolving Loan

  Commitment Amount

  	
   

  	
  Revolving Loan

  Commitment Percentage

  	
   

  
	
  Merrill
  Lynch Capital

  	
   

  	
  $

  	
  40,000,000.00

  	
   

  	
  100%

  	
   

  
	
  TOTALS

  	
   

  	
  $

  	
  40,000,000.00

  	
   

  	
  100%

  	
   

  

 

 

Exhibit B to Third Amendment to Credit Agreement

 

Exhibit D to Credit Agreement (Form of Borrowing Base Certificate)

 

Merrill Lynch Capital

Accounts Receivable Borrowing Base Report

 

	
   

  	
   

  	
  [Merrill Lynch Capital Logo]

  
	
  BBR
  Date

  	
  Report
  #:

  	
  Aging
  Date 

  
	
  Name:
  Reliant Pharmaceuticals, Inc.

  	
   

  	
  Customer
  #

  

 

	
   

  	
   

  	
  TRADE

  	
   

  	
  LESCOL

  	
   

  	
  TOTALS

  	
   

  
	
  A/R Category

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
  Billed Accounts Balance per aging dated 01/00/00

  	
   

  	
  $

  	
  —

  	
   

  	
  $

  	
  —

  	
   

  	
  $

  	
  —

  	
   

  
	
  2.

  	
  (Less): Ineligibles (from next page)

  	
   

  	
  $

  	
  —

  	
   

  	
  $

  	
  —

  	
   

  	
  $

  	
  —

  	
   

  
	
  3.

  	
  Eligible Accounts

  	
   

  	
  $

  	
  —

  	
   

  	
  $

  	
  —

  	
   

  	
  $

  	
  —

  	
   

  
	
  4.

  	
  Liquidity Factor

  	
   

  	
  90.00

  	
  %

  	
  100.00

  	
  %

  	
  0.00

  	
  %

  
	
  5.

  	
  Total Eligible Accounts

  	
   

  	
  $

  	
  —

  	
   

  	
  $

  	
  —

  	
   

  	
  $

  	
  —

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Computation of Availability

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.

  	
  Total Eligible Accounts:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  7a.

  	
  (Less): Cash Posted Since Last Aging

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  7b.

  	
  Plus: Revenues Posted Since Last Aging

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  8.

  	
  Plus/(Minus): Adjustments

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  9.

  	
  Net Eligible Accounts

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  10.

  	
  Advance Rate

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  85.00

  	
  %

  
	
  11.

  	
  Net Availability

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  12.

  	
  Less: Reserve

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  13.

  	
  Net Availability

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Computation
  of Loan

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  14.

  	
  Facility Limit

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  40,000,000

  	
   

  
	
  15.

  	
  Available to Borrow (not to exceed limit)

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  16.

  	
  Loan Balance on Prior Borrowing Base
  Certificate

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  —

  	
   

  
	
  17.

  	
  (Less): Cash Collections since last
  Borrowing Base Certificate

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  18.

  	
  Increase/(Decrease): Adjustments

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  19.

  	
  Loan Advances

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  20.

  	
  Ending Loan Balance

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  21.

  	
  Letter of Credit Outstandings

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  22.

  	
  Overall Reserve

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  23.

  	
  Remaining Availability (Lines 15-20-21-22)

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
   

  	
   

  
														

 

Pursuant to and in
accordance with the terms and provisions of that certain Credit Agreement dated
as of August 19, 2004 (as amended, the “Credit Agreement”), between Reliant
Pharmaceuticals, Inc. (“Borrower”), the lenders from time to time party thereto
(the “Lenders”) and Merrill Lynch Capital, a division of Merrill Lynch Business
Financial Services Inc., as agent for the lenders (“Agent”), Borrower is
executing and delivering to Agent this Borrowing Base Report accompanied by
supporting data (collectively referred to as the “Report” ).Borrower represents
and warrants to Agent and the Lenders that this Report is true, correct and
based upon information contained in Borrower’s own financial accounting
records. Borrower, by execution of this Report:

 

(a)
Hereby ratifies, confirms, and affirms all of the terms, and further certifies
that the Borrower is in compliance with the Credit Agreement as of January 00,
1900;

(b)
Hereby certifies that the Borrower has paid all State and Federal payroll
witholding taxes immediately due and payable through January 00, 1900.

This
document does not supersede any provisions of the Credit Agreement.

 

Capitalized
Term as used herein and not otherwise defined herein shall have the meanings
ascribed to them in the Credit Agreement.

 

	
   

  	
  (Responsible
  Officer’s

  	
   

  	
   

  
	
   

  	
  Signature)

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  (Print
  Name)

  	
   

  	
   

  
	
   

  	
  (Title)

  	
   

  	
   

  

 

 

Merrill Lynch Capital

Accounts Receivable Borrowing Base Report

 

	
  BBR
  Date

  	
  Report
  #:

  	
  Aging
  Date

  
	
  Name:
  Reliant Pharmaceuticals, Inc.

  	
   

  	
  Customer
  #

  

 

	
   

  	
   

  	
  TRADE

  	
   

  	
  LESCOL

  	
   

  	
  TOTALS

  	
   

  
	
  A/R Category

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
  Billed Accounts Balance per aging dated
  01/00/00

  	
   

  	
  $

  	
  —

  	
   

  	
  $

  	
  —

  	
   

  	
  $

  	
  —

  	
   

  
	
  2.

  	
  (Less): Ineligibles (from next page)

  	
   

  	
  $

  	
  —

  	
   

  	
  $

  	
  —

  	
   

  	
  $

  	
  —

  	
   

  
	
  3.

  	
  Eligible Accounts

  	
   

  	
  $

  	
  —

  	
   

  	
  $

  	
  —

  	
   

  	
  $

  	
  —

  	
   

  
	
  4.

  	
  Liquidity Factor

  	
   

  	
  90.00

  	
  %

  	
  100.00

  	
  %

  	
  0.00

  	
  %

  
	
  5.

  	
  Total Eligible Accounts

  	
   

  	
  $

  	
  —

  	
   

  	
  $

  	
  —

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Computation of Availability

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.

  	
  Total Eligible Accounts:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  7a.

  	
  (Less): Cash Posted Since Last Aging

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  7b.

  	
  Plus: Revenues Posted Since Last Aging

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  8.

  	
  Plus/(Minus): Adjustments

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  9.

  	
  Net Eligible Accounts

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  10.

  	
  Advance Rate

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  85.00

  	
  %

  
	
  11.

  	
  Net Availability

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  12.

  	
  Less: Reserve

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
   

  	
   

  
	
  13.

  	
  Net Availability

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Computation
  of Loan

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  —

  	
   

  
	
  14.

  	
  Facility Limit

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  40,000,000

  	
   

  
	
  15.

  	
  Available to Borrow (not to exceed limit)

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  16.

  	
  Loan Balance on Prior Borrowing Base
  Certificate

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  17.

  	
  (Less): Cash Collections since last
  Borrowing Base Certificate

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  18.

  	
  Increase/(Decrease): Adjustments

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  19.

  	
  Loan Advances

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  20.

  	
  Ending Loan Balance

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  21.

  	
  Letter of Credit Outstandings

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  —

  	
   

  
	
  22.

  	
  Overall Reserve

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  23.

  	
  Remaining Availability (Lines 15-20-21-22)

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
   

  	
   

  
													

 

Pursuant to and in
accordance with the terms and provisions of that certain Credit Agreement dated
as of August 19, 2004 (as amended, the “Credit Agreement”), between Reliant
Pharmaceuticals, Inc. (‘Borrower”), the lenders from time to time party thereto
(the “Lenders”) and Merrill Lynch Capital, a division of Merrill Lynch Business
Financial Services Inc., as agent for the lenders (“Agent”), Borrower is
executing and delivering to Agent this Borrowing Base Report accompanied by
supporting data (collectively referred to as the “Report” ).Borrower represents
and warrants to Agent and the Lenders that this Report is true, correct and
based upon information contained in Borrower’s own financial accounting
records. Borrower, by execution of this Report:

 

(a)
Hereby ratifies, confirms, and affirms all of the terms, and further certifies
that the Borrower is in compliance with the Credit Agreement as of January 00,
1900;

(b)
Hereby certifies that the Borrower has paid all State and Federal payroll
witholding taxes immediately due and payable through January 00, 1900.

This
document does not supersede any provisions of the Credit Agreement.

 

Capitalized
Term as used herein and not otherwise defined herein shall have the meanings
ascribed to them in the Credit Agreement.

 

	
   

  	
  (Responsible
  Officer’s

  	
   

  	
   

  
	
   

  	
  Signature)

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  (Print
  Name)

  	
   

  	
   

  
	
   

  	
  (Title)

  	
   

  	
   

  

 

 

Exhibit C to Third Amendment to Credit
Agreement

 

Third Amendment to Credit Agreement 

Closing Agenda and Document Checklist

 

* Items in BOLD to be provided by Borrower / Borrower’s
counsel

 

1.                                       Third
Amendment to Credit Agreement by and between Reliant Pharmaceuticals, Inc. (“Borrower”),
the financial institutions parties thereto as lenders (collectively, the “Lenders”)
and Merrill Lynch Capital, a division of Merrill Lynch Business Financial
Services Inc., as agent (“Agent”) for the Lenders

 

	
  Exhibit A

  	
  -

  	
  Restated Annex A to Credit Agreement (Commitment Annex)

  
	
  Exhibit B

  	
  -

  	
  Restated Exhibit D to Credit Agreement (Form of Borrowing Base
  Certificate)

  
	
  Exhibit C

  	
  -

  	
  Closing Checklist

  

 

2.                                       Amended and Restated Information Certificate

 

3.                                       Amended
and Restated Revolving Loan Note by Borrower in favor of Merrill Lynch Capital,
in the aggregate principal amount of $40,000,000.00

 

4.                                       Borrowing Base Certificate

 

5.                                       Working Capital Intercreditor Agreement

 

6.                                       Borrower’s Secretary’s Certificate, with incumbency

 

	
  Exhibit A

  	
  -

  	
  Certificate of Incorporation certified by the Delaware Secretary of
  State, as in effect on the date hereof

  
	
  Exhibit B

  	
  -

  	
  By-Laws, as in effect on the date hereof

  
	
  Exhibit C

  	
  -

  	
  Resolutions

  
	
  Exhibit D

  	
  -

  	
  Delaware Good Standing Certificate

  
	
  Exhibit E

  	
  -

  	
  Copies of Term Loan Documentation

  

 

7.                                       Delaware
State Level Search Reports (UCC, judgment, pending suit, bankruptcy, tax liens,
etc.) for each of Borrower and RP Sub

 

8.                                       Legal Opinion of Latham & Watkins, as counsel to the Borrower

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]