Document:

Exhibit 4.4

 

SUMMARY OF THE AMENDMENT TO THE IRREVOCABLE

GUARANTY TRUST AGREEMENT NO. F/00756

 

In connection with the
execution of the Amendment Agreement with regard to the Credit Agreement dated August 2010, GCS also entered into certain amendment
agreements with regard to the ancillary agreement referred to hereinbelow. The following is a summary of the principal terms and
conditions of:

 

The Amendment Agreement
with regard to Irrevocable Guaranty Trust Agreement No. F/00756, dated August 10, 2011, among (i) Grupo Casa Saba, S.A.B. de C.V.,
Casa Saba, S.A. de C.V., Inmuebles Visosil, S.A. de C.V. Distribuidora Citem, S.A. de C.V. and Transportes Marproa, S.A. de C.V.,
as settlors; (ii) Última del Golfo, S.A. de C.V., Capa, S.A. de C.V., Alta del Centro, S.A. de C.V., Solo, S.A. de C.V.,
Estrella del Pacífico, S.A. de C.V., Medicamentos Doctorgen, S.A. de C.V., Inmuebles Visosil, S.A. de C.V., Drogueros, S.A.
de C.V., Daltem Provee Nacional, S.A. de C.V., Casa Saba, S.A. de C.V., Farmacias ABC, S.A. de C.V., Publicaciones Citem, S.A.
de C.V., Daltem Provee Norte, S.A. de C.V., Centennial, S.A. de C.V. and Controladora Casa Saba, S.A. de C.V., as issuers; (iii)
The Bank of New York Mellon, S.A., Institución de Banca Múltiple, as trustee; and (iv) HSBC México, S.A.,
Institución de Banca Múltiple, Grupo Financiero HSBC, Trust Division, as beneficiary (the “Amendment to Trust
No. F/00756”).

 

Amended Trust Agreement
No. F/00756

 

The definitions of Credit
Agreement and Promissory Notes contained in the Trust Agreement were amended as follows:

 

“Credit Agreement”
shall mean the Credit Agreement dated August 30, 2010, among the Borrower, the Co-Obligors, the Lenders, the Beneficiary, as Mexican
Collateral Agent, and HSBC Bank (Chile), as Chilean Collateral Agent, as fully amended and restated by the Amendment Agreement
with regard to the Credit Agreement, dated August 10, 2011, among the Borrower, the Co-Obligors, the Lenders, the Beneficiary,
as Mexican Collateral Agent, and HSBC Bank (Chile), as Chilean Collateral Agent, by means of which the Lenders have agreed to make
available to the Borrower (i) Tranche 1, in the amount of Ps.3,939,167,424.45 (three billion nine hundred thirty-nine million one
hundred sixty-seven thousand four hundred twenty-four pesos 45/100), of which Ps.$994,500,000.00 (nine hundred ninety-four million
five hundred thousand pesos 00/100) will be funded by Banorte and Ps.2,944,667,424.45 (two billion nine hundred forty-four million
six hundred sixty-seven thousand four hundred twenty-four pesos 45/100) will be funded by HSBC México; and (ii) Tranche
2, in the amount of Ps.3,784,690,270.55 (three billion seven hundred eighty-four million six hundred ninety thousand two hundred
seventy pesos 55/100), of which Ps.955,500,000.00 (nine hundred fifty-five million five hundred thousand pesos 00/100) will be
funded by Banorte and Ps.2,829,190,270.55 (two billion eight hundred twenty-nine million one hundred ninety thousand two hundred
seventy pesos 55/100) will be funded by HSBC México; as hereinafter amended from time to time.

 

“Promissory Notes”
shall mean the promissory notes to be executed by the Borrower and guaranteed by the Co-Obligors, each in an amount equal to the
portion of Tranche 1 and Tranche 2 funded by each Lender, substantially in the form of Exhibit 1 to the Credit Agreement.

 

In addition, articles Three,
Four and Twenty-Eight of the Trust Agreement were amended as follows:

 

“THREE. Purposes.
The purposes of the trust created pursuant hereto, and the obligations of the Trustee hereunder, shall be as follows:

 

[...]

 

(i) for the Trustee
to receive all such amounts as the Borrower may forward to it from time to time for purposes of the creation of the Debt Service
Reserve Fund;

 

(j) for the Trustee
to establish and manage the Debt Service Reserve Fund and disburse the funds allocated thereto in accordance with the provisions
hereof.”

 

“FOUR. Trust
Estate.

 

[...]

 

(i) the amounts allocated
to the Debt Service Reserve Fund, and all interest accrued thereby.”

 

    	 

    	 

    

 

“TWENTY-EIGHT.
Debt Service Reserve Fund. The Trustee shall open and maintain with HSBC México, S.A., Institución de Banca
Múltiple, Grupo Financiero HSBC, or with such other banking institution as the Borrower may designate with the Beneficiary’s
consent, an account for purposes of the creation of a debt service reserve fund (the “Debt Service Reserve Fund”)
and the receipt of all amounts forwarded to it by the Borrower, until the amount deposited in such account shall be equal to the
aggregate amount of the next three (3) scheduled monthly installments of principal pursuant to the Credit Agreement, plus all interest
accrued during the relevant Interest Period, multiplied by three (3), as of the relevant determination date (the “Debt
Service Reserve Fund Target Amount”),in accordance with paragraph (f) of Article Eleven of the Credit Agreement.

 

In the event of the
Borrower’s failure to pay to the Lenders any principal or interest in accordance with the provisions of the Credit Agreement,
the Beneficiary, upon receipt of instructions to such effect from the Lenders, may instruct the Trustee to transfer to the Lenders,
out of the funds then allocated to the Debt Service Reserve Fund, the amount of principal and interest not paid in accordance with
the Credit Agreement. Such instructions shall indicate the amount to be transferred to each Lender and contain the necessary information
as to the bank accounts to which such funds must be transferred. Such transfer shall be made by the Trustee on the first Business
Day following the receipt of the aforementioned instructions from the Beneficiary.”

 

(e)          As a result of the
above, the parties hereby agree that effective as of the date of execution of this Agreement, (i) any and all references to the
“Credit Agreement” and the “Promissory Notes”, in the Trust Agreement, shall refer to the Credit Agreement
and the Promissory Notes, as defined in paragraphs (a) and (b) of this Article One, and (ii) any and all references to “this
Agreement”, “herein” or other similar words used to refer to the Trust Agreement, shall mean and shall be deemed
to refer to the Trust Agreement, as hereby amended.

 

Reaffirmation of
the Terms of the Trust Agreement; No Novation.

 

The parties agreed that
the above were the only amendments to, and reaffirmed and confirmed each and all of the remaining terms and conditions of the Trust
Agreement, which shall remain in full force and effect in accordance therewith. The parties further agreed that the Trust Agreement,
as amended by the foregoing Agreement, contains their entire and final agreement with respect to the subject matter thereof; and
that the execution of this Agreement does not constitute (i) a novation of their respective obligations under the Trust Agreement
or (ii) a novation, modification or settlement of the obligations secured by the Trust Agreement.

 

Governing Law and
Jurisdiction.

 

This Agreement shall be
governed by and construed in accordance with the laws of Mexico. The parties irrevocably submit to the jurisdiction of the competent
courts sitting in Mexico City, Federal District, for purposes of any action or proceeding relating to this Agreement, and hereby
waive any other jurisdiction to which they may be now or hereafter entitled by reason of their present or future addresses.Exhibit 4.5

 

SUMMARY OF NON-POSSESSORY PLEDGE

 

On September 28, 2010,
Grupo Casa Saba, S.A.B. de C.V., as pledgor (the “Pledgor”), and HSBC México, S.A., Institución
de Banca Múltiple, Grupo Financiero HSBC, División Fiduciaria (together with its successors, beneficiaries and assigns,
the “Beneficiary”) acting in its capacity as Mexican Collateral Agent in the name, on behalf and for the benefit
of the Secured Parties, entered into a pledge agreement subject to retained possession (the “Agreement”).

 

The Pledgor granted to
the Beneficiary a pledge without possession, pursuant to the Law of Credit Instruments and Transactions (Ley General de Títulos
y Operaciones de Crédito, or “LGTOC”), in respect of all present and future items of personal property
used by Pledgor in connection with its primary line of business, including, without limitation, (a) all of its present and future
accounts receivable and (b) its Inventory (the items referred to in (a) and (b) above, collectively, the “Pledged Assets”),
which pledge constitutes a first priority lien securing (i) the payment when due of the principal amount of, interest on and any
accessories payable in connection with the Credit Agreement, the Promissory Notes and other related documents, (ii) the satisfaction
of the Pledgor’s obligations under the Agreement, and (iii) the payment of any and all fees, costs and expenses incurred
by the Beneficiary in connection with the execution of the Agreement and the creation of the pledge (all such obligations, collectively,
the “Secured Obligations”).

 

The Pledgor agreed, for
so long as the Secured Obligations may remain outstanding, to:

 

(a)          refrain
from selling or disposing of the Pledge Assets, other than in the ordinary course of business or as permitted by the Loan Documents;

 

(b)          maintain
the Inventories located at the warehouses identified in Exhibit B, in accordance with Article 357 of the LGTOC;

 

(c)          execute
and deliver any and all such documents as may be necessary to create and protect the pledge and enable the Beneficiary to exercise
its rights thereunder; file the Agreement and its Exhibits for registration with the Public Registry of Commerce on the effective
date of the Credit Agreement de Crédito, and obtain such registration within 45 (forty-five) days from the date of the Agreement;
and deliver to the Beneficiary evidence of both the filing for registration and the registration of the Agreement;

 

(d)          refrain
from taking or allowing any person under its control to take any action that may affect the pledge;

 

(e)          defend,
at its own cost and expense, the Pledged Assets and the rights of the Beneficiary and the Lenders; provided, that the Beneficiary
may elect to undertake itself such defense, in which case any and all of the expenses incurred by it in connection therewith shall
be subject to reimbursement by the Pledgor; provided, further, that any and all such costs and expenses shall constitute
Secured Obligations;

 

(f)          provide
to the Beneficiary, within three (3) Business Days from the receipt of request therefor, or, if not immediately available, within
15 (fifteen) Business Days, a description of the location and useful lives of the Pledged Assets, including a report identifying
and describing such Pledges Assets;

 

(g)          refrain
from creating or suffering the existence of any lien, other than the pledge, on the Pledged Assets;

 

(h)          give the
Beneficiary prompt notice of any lien or claim that could have an adverse effect on the value of the Pledged Assets or on the Beneficiary’s
security interest thereon;

 

(i)           allow
the Beneficiary or its representatives, upon receipt of at least two (2) Business Day’s notice, unrestricted access, during
business days and hours, to all books, records and correspondence pertaining to the Pledged Assets, except if an Acceleration Event
shall have occurred and be continuing; and to provide to the Beneficiary, at its own cost and expense, any assistance of any nature
whatsoever as the Borrower may reasonably request in connection with any inspection. Upon delivery of the aforementioned notice
and unless an Acceleration Event shall have occurred and be continuing, the Beneficiary or its representatives shall have be entitled
to inspect the Pledged Assets or to otherwise protect its interest thereon; and

 

    	 

    	 

    

 

(j)           deliver,
within five (5) days from its receipt of written request therefor from the Beneficiary, a report describing the condition of the
Pledged Assets.

 

In the event of replacement
of any Pledged Asset with any other item of property, such replacement item shall be considered as a substitute of the relevant
Pledged Asset, shall be subject to the pledge and shall become a Pledged Asset, whereupon the original Pledged Asset shall be released
from the pledge.

 

If the Secured Obligations
are not paid as and when due, the Beneficiary shall be entitled to enforce the pledge in accordance with the LGTOC, the Commerce
Code and any other applicable laws.

 

Pursuant to the Credit
Agreement and the other Loan Documents, the proceeds from the sale of any Pledged Assets shall be allocated as follows:

 

(a)          to pay
any and all taxes, fees, costs and expenses incurred by the Beneficiary (or the Secured Parties) in connection with the execution
of the Pledged Assets; provided, that if the amount of such proceeds were insufficient for such purpose, the relevant shortfall
shall be paid by the Pledgor;

 

(b)          to pay
the Secured Obligations; and

 

(c)          the balance,
if any, shall be delivered to the Pledgor.

 

The Beneficiary’s
failure to exercise any of its rights shall in no event be construed as a waiver thereof; and the exercise by the Beneficiary on
a single occasion, or the partial exercise of any such right, shall not preclude any right of the Beneficiary or the Secured Parties.

 

The Pledgor has waived
the three (3) year statute of limitations set forth in Article 375 of the GFTOC, and its right under Article 378 of the LGTOC to
grant any guaranty to any new creditor.

 

The Agreement shall remain
in full force and effect until such time as the Secured Obligations shall have been satisfied in full, and the pledge shall not
be cancelled or released notwithstanding any partial payment of the Secured Obligations. The Pledgor has waived its right pursuant
to Article 349 of the LGTOC, to request the partial reduction or release of the Pledged Assets.

 

Upon termination of the
Agreement and at the request and expense of the Pledgor, the Beneficiary shall execute any and all such documents as may be necessary
to cancel the pledge.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}]]