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Exhibit 10.39    
  

        AMENDMENT NO. 1 TO RECEIVABLES PURCHASE AGREEMENT  

        THIS AMENDMENT NO. 1 TO RECEIVABLES PURCHASE AGREEMENT (this
"Amendment"), dated as of February 1, 2001, is entered into by and among: 

        (a)  Edwards
Lifesciences Financing LLC, a Delaware limited liability company ("Seller"), 

        (b)  Edwards
Lifesciences LLC, a Delaware limited liability company ("Edwards"), as initial Servicer, 

        (c)  Blue
Ridge Asset Funding Corporation, a Delaware corporation ("Blue Ridge"), and 

        (d)  Wachovia
Bank, N.A., as agent for Blue Ridge and its assigns under the Transaction Documents and under the Liquidity Agreement (together with its successors and assigns
in such capacity, the "Agent"). 

Unless defined elsewhere herein, capitalized terms used in this Amendment shall have the meanings assigned to such terms in Exhibit I to the RPA (as defined
below).

 
 

PRELIMINARY STATEMENTS    
  

        Seller, Edwards, Blue Ridge and the Agent are parties to that certain Receivables Purchase Agreement, dated as of December 21, 2000 (the "RPA"). 

        The
parties desire to amend the RPA in accordance with the terms hereof. 

 
 

ARTICLE I.    
    
    AMENDMENTS    
  

Section 1.1    Amendment to Section 1.1(a) of the RPA.    

        Section 1.1(a)
of the RPA is hereby amended and restated in its entirety as follows: 

        (a)  Upon
the terms and subject to the conditions of this Agreement (including, without limitation, Article VI), from time to time prior to the Facility Termination
Date, Seller will sell to Blue Ridge, and Blue Ridge will purchase from Seller, undivided ownership interests in the Receivables and the associated Related Security and Collections;  provided that
no Purchase shall be made by Blue Ridge if, after giving effect thereto, either (i) the Aggregate Invested Amount would exceed the
Purchase Limit, or (ii) the aggregate of the Receivable Interests would exceed 100%. It is the intent of Blue Ridge to fund the Purchases by the issuance of Commercial Paper. If for any reason
Blue Ridge is unable, or determines that it is undesirable, to issue Commercial Paper to fund or maintain its investment in the Receivable Interests, or is unable for any reason to repay such
Commercial Paper upon the maturity thereof, Blue Ridge will avail itself of a Liquidity Funding to the extent available. If Blue Ridge funds or refinances its investment in a Receivable Interest
through a Liquidity Fundings, in lieu of paying CP Costs on the Invested Amount pursuant to Article III hereof, Seller will pay Yield thereon at the Alternate Base Rate or the LIBO Rate,
selected in accordance with Article IV hereof. Nothing herein shall be deemed to constitute a commitment of Blue Ridge to issue Commercial Paper. 

Section 1.2    Amendment to Section 1.2 of the RPA.    

        Section 1.2
of the RPA is hereby amended and restated in its entirety as follows: 

        Seller
shall provide the Agent with at least two (2) Business Days' prior written notice in a form set forth as Exhibit II hereto of each Incremental Purchase (each, a  "Purchase Notice"). Each
Purchase Notice shall be subject to Section 6.2 hereof and, except as set forth below, shall be irrevocable and shall
specify the requested Purchase Price (which shall not be less than $1,000,000 or a larger integral multiple of $100,000) and the Purchase Date (which, in the case of any Incremental Purchase after the
initial Purchase hereunder, shall only be on a Settlement Date). 

 

Following receipt of a Purchase Notice, the Agent will determine whether Blue Ridge will fund the requested Incremental Purchase through the issuance of Commercial Paper or through a Liquidity
Funding, and Blue Ridge will fund such Incremental Purchase in accordance with the Agent's determination. On each Purchase Date, upon satisfaction of the applicable conditions precedent set forth in
Article VI, Blue Ridge shall deposit to the Facility Account, in immediately available funds, no later than 2:00 p.m. (New York time), an amount equal to the requested Purchase Price. 

Section 1.3    Amendment to Section 2.5 of the RPA.    

        Section 2.5
of the RPA is hereby deleted in its entirety. 

 
 

ARTICLE II.    
    
    MISCELLANEOUS    
  

Section 2.1    Full Force and Effect.    

        This
Amendment amends the terms and conditions of the RPA and, except as amended hereby, all such terms and conditions in the RPA shall remain unmodified and in full force and effect and
are incorporated by reference herein to the same extent as though fully set forth herein. 

Section 2.2    CHOICE OF LAW.    

        THIS
AMENDMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, without regard to the principles of conflicts of laws thereof OTHER THAN SECTION
5-1401 OF THE GENERAL OBLIGATIONS LAW. 

Section 2.3    Counterparts.    

        This
Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original
and all of which when taken together shall constitute one and the same Amendment. 

<signature pages follow>

2

        IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 1 to Receivables Purchase Agreement to be executed and
delivered by their duly authorized officers or attorneys-in-fact as of the date hereof. 

	EDWARDS LIFESCIENCES FINANCING LLC

	

By:	

 Name:

Title:

	

 	

Address:	

One Edwards Way

M/S 27X

Irvine, California 92614

Attention: Dan Gallagher

Telephone: (949) 250-2250

Facsimile: (949) 250-2248

	

EDWARDS LIFESCIENCES LLC
	

By:	

 Name:

Title:

	

 	

Address:	

One Edwards Way

M/S 27X

Irvine, California 92614

Attention: Dan Gallagher

Telephone: (949) 250-2250

Facsimile: (949) 250-2248

[Signature
Page] 

	BLUE RIDGE ASSET FUNDING CORPORATION
	
BY: WACHOVIA BANK, N.A., ITS ATTORNEY-IN-FACT
	

By:	

 Name:

Title:

	

 	

Address:	

Blue Ridge Asset Funding Corporation

100 North Main Street

Winston—Salem, North Carolina 27150

Attention: John Dillon

Telephone: (336) 732-2690

Facsimile: (336) 732-5021
	

 	

 	

with a copy to:
	

 	

 	

Blue Ridge Asset Funding Corporation

c/o AMACAR Group, LLC

6525 Morrison Blvd., Suite 318

Charlotte, North Carolina 28211

Attention: Douglas K. Johnson

Telephone: (704) 365-0569

Facsimile: (704) 365-1362

	
WACHOVIA BANK, N.A., as a Liquidity Bank and as Agent
	

By:	

 Name:

Title:

	

 	

Address:	

Wachovia Bank, NA

191 Peachtree Street, 26th Floor

GA-403

Atlanta, Georgia 30303

Attention: Elizabeth Wagner

Telephone: (404) 332-1398

Facsimile: (404) 332-5152

[Signature
Page] 

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Exhibit 10.39

PRELIMINARY STATEMENTS

ARTICLE I. AMENDMENTS

ARTICLE II. MISCELLANEOUSQuickLinks
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Exhibit 10.40    
  

 
 

SECOND AMENDMENT TO RECEIVABLES PURCHASE AGREEMENT    
  

        THIS SECOND AMENDMENT TO RECEIVABLES PURCHASE AGREEMENT, dated as of September 20, 2001 (this
"Amendment"), is by and among Edwards Lifesciences Financing LLC, a Delaware limited liability company
("Seller"), Edwards Lifesciences LLC, a Delaware limited liability company ("Servicer"), Blue Ridge
Asset Funding Corporation, a Delaware corporation ("Blue Ridge"), the liquidity banks from time to time party to the Liquidity Agreement (the
"Liquidity Banks;" together with Blue Ridge, the "Purchasers") and Wachovia Bank, N.A., as agent for the
Purchasers (the "Agent"), and pertains to the Receivables Purchase Agreement dated as of December 21, 2000 amongst the parties hereto (as
heretofore and hereby amended, the "Purchase Agreement"). Unless otherwise defined in this Amendment capitalized terms used
herein shall have the meanings assigned to such terms in the Purchase Agreement. 

 
 

PRELIMINARY STATEMENTS    
  

        WHEREAS, the Seller wishes to make certain amendments to the Purchase Agreement; and 

        WHEREAS, the Agent and the Purchasers are willing to agree to such amendments. 

        NOW, THEREFORE, in consideration of the foregoing premises and the mutual agreements herein contained and other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 

        1.    Amendments.    

        (a)  The
table in the definition of "Obligor Concentration Limit" set forth in the Agreement is hereby amended to replace "2%"
where it appears in the bottom right-hand cell therein with "1.5%". 

        (b)  The
definition of "Required Reserve Factor Floor" set forth in the Agreement is hereby amended and restated in its
entirety to read as follows: 

        "Required Reserve Factor Floor" means, for any Calculation Period, the sum (expressed as a percentage) of (a) 18.0% plus
(b) the product of the Adjusted Dilution Ratio and the Dilution Horizon Ratio, in each case, as of the immediately preceding Cut-Off Date. 

        2.    Representations and Warranties.    In order to induce Blue Ridge and the Agent, on behalf of the other
Purchasers, to enter into this Amendment, each of the Seller Parties hereby represents and warrants to Blue Ridge and the Agent, on behalf of the other Purchasers, as follows: 

        (a)  The
execution and delivery by such party of this Amendment, and the performance of its obligations under the Purchase Agreement as amended hereby, are within such
party's organizational powers and authority and have been duly authorized by all necessary organizational action on its part; 

        (b)  This
Amendment has been duly executed and delivered by such party, and the Purchase Agreement, as amended hereby, constitutes such party's legal, valid and binding
obligation, enforceable against such party in accordance with its terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws relating
to or limiting creditors' rights generally and by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law), and 

        (c)  As
of the date hereof, no event has occurred and is continuing that will constitute an Amortization Event or an Unmatured Amortization Event. 

        3.    Conditions Precedent.    This Amendment shall become effective as of the date first above written upon: 

        (a)  execution
and delivery to the Agent of a counterpart hereof by each of the parties hereto, 

        (b)  execution
and delivery to the Agent of a counterpart of an amended and restated Fee Letter by each of the parties thereto, and 

        (c)  receipt
by the Agent of a fully-earned and non-refundable amendment fee of $10,000 in immediately available funds. 

        4.    Miscellaneous.    

        (a)    CHOICE OF LAW.    THIS AMENDMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (AND NOT
THE LAW OF CONFLICTS) OF THE STATE OF NEW YORK. 

        (b)    Counterparts.    This Amendment may be executed in any number of counterparts and by different parties hereto
in separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same agreement. 

        (c)    Ratification of Purchase Agreement.    Except as expressly amended hereby, the Purchase Agreement remains
unaltered and in full force and effect and is hereby ratified and confirmed. 

 

        IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and delivered by their duly authorized officers as of the
date hereof. 

	 	 	EDWARDS LIFESCIENCES FINANCING LLC

	

 	
 	

By:	

 Name: Bruce J. Bentcover

Title: Chief Financial Officer
	

 	
 	
EDWARDS LIFESCIENCES LLC

	

 	
 	

By:	

 Name: Bruce J. Bentcover

Title: Chief Financial Officer
	

 	
 	
BLUE RIDGE ASSET FUNDING CORPORATION

	 	 	BY: WACHOVIA BANK, N.A., ITS ATTORNEY IN FACT
	

 	
 	

By:	

 Name:

Title:
	

 	
 	
WACHOVIA BANK, N.A., AS A LIQUIDITY BANK AND AS AGENT

	

 	
 	

By:	

 Name:

Title:

2

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Exhibit 10.40

SECOND AMENDMENT TO RECEIVABLES PURCHASE AGREEMENT

PRELIMINARY STATEMENTS

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