Document:

Exhibit 10.2

 

FIRST
AMENDMENT TO CREDIT AGREEMENT AND LOAN DOCUMENTS

 

THIS FIRST AMENDMENT TO
CREDIT AGREEMENT AND LOAN DOCUMENTS (this “ Amendment “) is made as of
the 30th day of June, 2008 by and between
SUMMER INFANT, INC. , a Delaware corporation (“ SI Holdings “),  SUMMER INFANT
(USA), INC. , a Rhode Island corporation (“ SI USA “),  KIDDOPOTAMUS &
COMPANY , a Delaware corporation (“ Kiddopotamus “), ,  SUMMER INFANT
EUROPE LIMITED , a private company limited by shares organized under
the laws of England and Wales with registered number 04322137 (“ SI Europe
“), 
SUMMER INFANT ASIA LIMITED , a Hong Kong corporation (“ SI
Asia “), and SUMMER INFANT CANADA,
LIMITED , a corporation organized under the laws of the Province of
New Brunswick, Canada (“ SI Canada “, and collectively with SI Holdings,
SI USA, Kiddopotamus, SI Europe and SI Asia, the “ Original Borrowers “
and each individually an “ Original Borrower “), certain Lenders
identified on the signature pages hereto (collectively, the “ Lenders
“ and each individually, a “ Lender “), and BANK OF AMERICA, N.A. , a national banking association, as
Administrative Agent (in such capacity, the “ Agent “).

 

RECITALS:

 

WHEREAS, the Lenders, BANK OF AMERICA, N.A., a national banking
association, as Swing Line Lender (the “ Swing Line Lender “) and L/C
Issuer (the “ L/C Issuer “), the Agent and the Original Borrowers are
parties to a certain Credit Agreement dated as of April 10, 2008, as
supplemented by a Joinder and Security Agreement dated as of April 18, 2008,
by and among the Lenders, the Agent, the Original Borrowers and Kiddo
Acquisition Co., Inc., a Rhode Island corporation (as supplemented, the “
Credit Agreement “), which Credit Agreement is incorporated herein by
reference and made a part hereof (capitalized terms used herein that are not
otherwise defined herein shall have the meanings set forth in the Credit
Agreement); and

 

WHEREAS, the Original
Borrowers have applied to the Lenders, the Swing Line Lender, the L/C Issuer
and the Agent (collectively, the “ Lender Parties “) to make certain
amendments to the Credit Agreement and certain other Loan Documents; and

 

WHEREAS, on or about June 30,
2008, the Lender Parties agreed to effect such amendments subject to the
execution and delivery of an amendment in form and substance satisfactory to
the Lender Parties to evidence such amendments; and

 

WHEREAS, the Lender
Parties and the Original Borrowers desire to amend the Credit Agreement in the
manner set forth below.

 

NOW, THEREFORE, for good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:

 

1.          The parties hereto hereby agree that SI Europe, SI
Asia and SI Canada shall be and are hereby released as “Borrowers” under the
Credit Agreement and the Notes, and as “Grantors” under the Guaranty and
Security Agreement of the Original Borrowers in favor of the Agent for the
benefit of the Lenders and other Lender Parties dated as of April 10, 2008
(the “ Security Agreement “).  Accordingly, the terms “ Borrower
“, “ Borrowers “, “ Loan Party “ and “ Loan Parties “
appearing in the Credit Agreement and the Notes, and the terms “ Grantor
“ and “ Grantors “ appearing

 

 

in the Security
Agreement, are hereby amended to delete all references to SI Europe, SI Asia
and SI Canada.  Nothing contained herein is intended to modify, release or
discharge any of the obligations, indebtedness or liabilities of SI Holdings,
SI USA or Kiddopotamus under the Credit Agreement, the Notes, the Security
Agreement or any other Loan Documents, and SI Holdings, SI USA and Kiddopotamus
(collectively, the “ Borrowers “) shall remain obligated under each of
the Credit Agreement, the Notes, the Security Agreement and all other Loan
Documents, and shall remain jointly and severally liable for the payment and
performance of all Obligations.

 

2.          The following definitions of “Applicable Rate”,
“Borrowing Base Availability”, “ Letter of Credit “ and “
Pledging Borrowers “ set forth in Section 1.01  of the Credit Agreement are hereby amended to
read in their entirety as follows

 

““Applicable
Rate” means, from time to time, the following percentages per annum, based
upon the Funded Debt to EBITDA Ratio (the “ Financial Covenant “) as set
forth in the most recent Compliance Certificate received by Agent pursuant to Section 6.02(b) :

 

Applicable Rate

 

	
  Pricing

  Level

  	
   

  	
  Funded
  Debt to EBITDA

  Ratio

  	
   

  	
  Applicable
  Rate for

  Eurodollar Rate Loans and

  Letters of Credit

  	
   

  	
  Applicable
  Rate For

  Base Rate Loans

  	
   

  
	
  1.

  	
   

  	
  <2.75:1.00

  	
   

  	
  1.50%

  	
   

  	
  -0-

  	
   

  
	
  2.

  	
   

  	
  >2.75:1.00 but<3.25:1.00

  	
   

  	
  1.75%

  	
   

  	
  0.25%

  	
   

  
	
  3.

  	
   

  	
  >3.25:1.00

  	
   

  	
  2.00%

  	
   

  	
  0.50%

  	
   

  

 

Any
increase or decrease in the Applicable Rate resulting from a change in the
Financial Covenant shall become effective as of the first Business Day of the
month immediately following the date a Compliance Certificate is delivered
pursuant to Section 6.02(b) ;  provided ,  however , that if a Compliance Certificate
is not delivered when due in accordance with such Section, then Pricing Level 3
shall apply as of the first Business Day of the month following the date such
Compliance Certificate was required to have been delivered.  The
Applicable Rate in effect from the Closing Date through June 30, 2008
shall be determined based upon Pricing Level 3.

 

Notwithstanding
anything to the contrary contained in this definition, (i) the
determination of the Applicable Rate for any period shall be subject to the
provisions of Section 2.10(b) ; and (ii) at any time the
Borrowers’ Funded Debt to EBITDA ratio exceeds 3.25:1.00 and the Aggregate Commitments
are calculated using the Overadvance Amount, the Applicable Rate set forth in
this definition shall increase by one quarter of one percent (0.25%) for the
longer of (A) ninety (90) days from the date that the Aggregate
Commitments began to be calculated using the Overadvance Amount; or (B) the
delivery of a Borrowing Base Certificate which shows that such overadvance has
been eliminated.”

 

““Borrowing
Base Availability” means an amount which shall not exceed the aggregate
Dollar Equivalent of (i) eighty-five percent (85%) of Total Eligible Toys
R Us

 

2

 

Receivables outstanding
from time to time, plus (ii) eighty-five percent (85%) of Total Eligible
Target Receivables outstanding from time to time, plus (iii) eighty
percent (80%) of Eligible Domestic Receivables outstanding from time to time;
plus (iv) sixty percent (60%) of the value of Eligible Domestic Inventory;
plus (v) fifty-five percent (55%) of the value of Intransit Inventory;  provided ,  however , the amount available for Loans
against Eligible Domestic Inventory and Intransit Inventory shall not exceed
the lesser of (A) fifty percent (50%) of Borrowing Base Availability under
(i) through (v) above, and (B) Twenty-Three Million Dollars
($23,000,000).

 

““Letter
of Credit” means any standby letter of credit and any commercial letter of
credit issued hereunder.”

 

“Pledging
Borrowers” means, collectively, SI Holdings, SI USA, Kiddopotamus and any
future Borrower that pledges Collateral for the Obligations pursuant to a
first-priority perfected security interest.”

 

3.          The definitions of “Eligible Foreign Inventory”
and “Eligible Foreign Receivable” set forth in Section 1.01  of
the Credit Agreement are hereby deleted from the Credit Agreement in their
entirety.

 

4.          Exhibit F to the Credit Agreement is hereby amended to read in
its entirety in the form of Annex A attached hereto and made in part
hereof.

 

5.          The Borrowers and the Agent shall execute such
agreements and documents as the Agent shall reasonably require in order to
limit the security interests granted by the Borrowers in the capital stock of
SI Asia, SI Europe and SI Canada to a pledge of not more than sixty-five
percent (65%) of the capital stock of each of such subsidiaries held by the Borrowers,
and the Borrowers shall execute and deliver to the Agent such additional
agreements as the Agent shall reasonably request from time to time to grant and
perfect such security interests in such portion of the capital stock of each of
such subsidiaries.  Except for the modification set forth in the preceding
sentence, all other security interests granted by the Borrowers in and to the
Collateral described in the Security Agreement shall remain in full force and
effect and are in all respects hereby ratified and affirmed by the Borrowers.

 

6.          The Borrowers shall pay all reasonable expenses
incurred by the Agent in the drafting, negotiation and closing of the documents
and transactions contemplated hereby, including the reasonable fees and
disbursements of the Agent’s counsel.

 

7.          All references to the Credit Agreement in the Note and
the Security Documents shall be deemed to refer to the Credit Agreement, as
amended by this Amendment and any other amendments which may be executed. 
All references in the Loan Documents to “the Notes” shall be deemed to refer to
the Notes, as amended by this Amendment.  This Amendment shall constitute
a “Loan Document” as defined in the Credit Agreement.

 

8.          The Borrowers hereby warrant that all of the
representations and warranties contained in Article III of the Credit
Agreement are true and correct as of the date hereof and that no Event of
Default has occurred and is continuing or would result by the execution of this
Amendment

 

3

 

or would constitute such
an Event of Default but for the requirement that notice be given or time elapse
or both.

 

9.          This Amendment may be executed in several
counterparts, each of which when executed and delivered is an original, but all
of which together shall constitute one instrument.  In making proof of
this Amendment, it shall not be necessary to produce or account for more than
one such counterpart executed by the party against whom enforcement of this
Amendment is sought.

 

10.        Except as modified and amended hereby, the Credit
Agreement shall remain in full force and effect and is in all other respects
ratified and confirmed by the Borrowers, the Lenders and the Agent.

 

(The
next page is the signature page.)

 

4

 

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

 

	
   

  	
  BANK
  OF AMERICA, N.A., as Administrative Agent

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Brenda Little

  
	
   

  	
   

  	
  Brenda H. Little, Vice
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  BANK
  OF AMERICA, N.A., as a Lender, Swing Line Lender and L/C Issuer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  David Angell

  
	
   

  	
   

  	
  David J. Angell, Senior
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  RSB
  CITIZENS, NATIONAL ASSOCIATION, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Robert Kent

  
	
   

  	
   

  	
  Name: Robert R. Kent

  
	
   

  	
   

  	
  Title:  
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  BANK
  RHODE ISLAND, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Peter J. Difilippo

  
	
   

  	
   

  	
  Name: Peter J.
  Difilippo

  
	
   

  	
   

  	
  Title:  
  Senior Vice President

  

 

 

	
   

  	
  BORROWERS:

  
	
   

  	
   

  	
   

  
	
   

  	
  SUMMER
  INFANT (USA), INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Jason Macari

  
	
   

  	
   

  	
  Jason P. Macari,
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  SUMMER
  INFANT, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Jason Macari

  
	
   

  	
   

  	
  Jason P. Macari,
  President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  KIDDOPOTAMUS &
  COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Jason Macari

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  Acknowledged and
  Agreed:

  
	
   

  	
   

  	
   

  
	
   

  	
  SUMMER
  INFANT EUROPE LIMITED

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Jason Macari

  
	
   

  	
   

  	
  Jason P. Macari,
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  SUMMER
  INFANT ASIA LIMITED

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Jason Macari

  
	
   

  	
   

  	
  Jason P. Macari,
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  SUMMER
  INFANT CANADA LIMITED

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Jason Macari

  
	
   

  	
   

  	
  Jason P. Macari,
  President

  

 

 

ANNEX
A

 

EXHIBIT F

 

FORM OF
BORROWING BASE CERTIFICATE

 

SUMMER
INFANT

 

MONTH-END
COLLATERAL REPORT AND BORROWING CERTIFICATE

 

For the Month-ending

 

REVOLVING FACILITY

 

	
  DOMESTIC ACCOUNTS RECEIVABLE(Excluding Target/Toys
  R Us)

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.)

  	
  End of Month Balance

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.)

  	
  Ineligible Accounts
  Receivable, Determined without Duplication

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.)

  	
  Net Eligible Accounts
  Receivable

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ELIGIBLE TARGET RECEIVABLES

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.)

  	
  End of Month Balance

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5.)

  	
  Ineligible Accounts
  Receivable, Determined without Duplication

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.)

  	
  Net Eligible Accounts
  Receivable

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7.)

  	
  Total Eligible Target
  Receivables (98% of Line 6)

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ELIGIBLE TOYS R US RECEIVABLES

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  8.)

  	
  End of Month Balance

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  9.)

  	
  Ineligible Accounts
  Receivable, Determined without Duplication

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  10.)

  	
  Net Eligible Accounts
  Receivable

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  11.)

  	
  Total Eligible Toys R
  Us Receivables (86% of Line 10)

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  DOMESTIC INVENTORY

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  12.)

  	
  Month Ending Inventory
  Balance

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  13.)

  	
  Less: Ineligible
  Domestic Inventory

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  14.)

  	
  Eligible Inventory

  	
   

  	
  $

  	
    

  	
   

  

 

 

	
  IN-TRANSIT INVENTORY

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  15.)

  	
  Month Ending Inventory
  Balance

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  16.)

  	
  Less: Ineligible
  In-Transit Inventory

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  17.)

  	
  Eligible In-Transit
  Inventory

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  BORROWING BASE

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  18.)

  	
  a)

  	
  Domestic Accounts
  Receivable (80% of Line 3)

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  b)

  	
  Target Receivables (85%
  of Line 7)

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  c)

  	
  Toys R Us Receivables
  (85% of Line 11)

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  d)

  	
  Domestic Inventory (60%
  of Line 14)

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  e)

  	
  Intransit Inventory
  (55% of Line 17)

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  19.)

  	
  Inventory Availability
  (Lesser of Lines 18d + 18e OR $ 23,000,000)

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  20.)

  	
  Gross Availability
  (Lines 18a + 18b + 18c + 19)

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  21.)

  	
  Lesser of Line 20 or $46,000,000
  (Line Limit)

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  LOAN DETAIL

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Prime
  Rate

  	
  $

  	
    

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  LIBOR

  	
  $

  	
    

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Other

  	
  $

  	
    

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  22.)

  	
  Total Loans Outstanding
  at Month-End

  	
   

  	
  $

  	
    

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  23.)

  	
  Net Borrowing Base
  Availability (Line 21 minus Line 22)

  	
   

  	
  $

  	
      

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
										

 

The
undersigned represents and warrants that:

 

(A)          The information provided above and in
the accompanying supporting documentation is true and correct, and complies
fully with the conditions, terms and covenants of the Credit Agreement dated April 10,
2008 as amended to the date (the “Agreement”) between the undersigned and Bank
of America (the “Bank”).

 

 

(B)           Since the date of the last financial
statement or certification furnished to the Bank.

 

(i)           
There has been no material adverse change in the financial condition or
operations of the undersigned, and

 

(ii)          
There is no event which is, or with notice or lapse of time or both would be, a
default under the Agreement

 

Summer Infant, Inc.

 

 

	
  By:

  	
   

  	
   

  
	
   

  	
  Print Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Date:Exhibit 10.1

 

THIRD AMENDED & RESTATED

PROMISSORY NOTE

 

THIS THIRD
AMENDED AND RESTATED PROMISSORY NOTE (this “Third Amended Note”) made effective as
of the January 4, 2010 (the “Effective Date”), by and between
Advanced Life Sciences Holdings, Inc., a Delaware corporation (the “Maker”),
and Michael T. Flavin, Ph.D. (the “Payee”).

 

WHEREAS, in September 2001, the Maker
incurred indebtedness under a $2.0 million promissory note with the Payee,
which bears interest at 7.75% and was to mature on September 1, 2006 (the “Original
Note”); and

 

WHEREAS, in July 2005, the Payee agreed to
restructure the Original Note so that all principal and interest due under the
Original Note would mature on December 31, 2007;

 

WHEREAS, in May 2006, the Maker authorized
the payment of accumulated interest on the loan with the Payee and provided for
monthly payments of accumulated interest until the loan matures

 

WHEREAS, in September 2007, the Payee and
the Maker entered into an Amended & Restated Promissory Note under
which all principal due would mature on January 5, 2009;

 

WHEREAS, in January 2009, the Payee and the
Maker entered into a Second Amended & Restated Promissory Note under
which all principal due would mature on January 5, 2010.

 

WHEREAS, as of the Effective Date, the Maker had
$2.0 million outstanding under the Original Note (the “Debt”).

 

WHEREAS, the Maker and the Payee desire to enter
into this Third Amended Note to extend the date of upon which the Debt shall
mature.

 

NOW,
THEREFORE, in consideration of the mutual covenants contained
herein, the Maker and the Payee agree as follows:

 

FOR VALUE
RECEIVED, the
Maker hereby unconditionally promises to pay to the order of the Payee, at
Woodridge, Illinois, or at such other place as the holder of this Third Amended
Note may from time to time designate in writing, in lawful money of the United
States of America, the principal sum of $2,000,000. The principal indebtedness
evidenced hereby shall be payable in one lump sum payment on January 5, 2012,
plus any interest then accrued (provided below) but previously unpaid thereon.

 

Maker further promises to
pay interest at the place provided above on the unpaid principal balance,
provided that the unpaid principal balance shall bear interest at a rate of
7.75% per annum, compounded annually, and such interest shall be due and
payable in advance of or upon maturity. 
Interest shall be calculated on the basis of a 360-day year for the
actual number of days elapsed.  Payments
received by Payee from Maker on this Third Amended Note shall be applied first
to the payment of interest which is due and payable and only thereafter to the
outstanding principal balance hereof.

 

At the option of the
Maker, this Third Amended Note may be prepaid in full or in part, at any time
or from time to time, without penalty or premium of any kind.

 

This Third Amended Note
has been delivered and shall be deemed to have been made at Woodridge, Illinois
and shall be interpreted and the rights and liabilities of the parties hereto
determined in accordance with the internal laws and decisions of the State of
Illinois, without giving affect to the conflict of laws principals
thereof.  Whenever possible, each
provision of this Third Amended Note shall be interpreted in such a manner as
to be effective and valid under applicable law, such provision shall be
ineffective to the extent of such prohibition or invalidity, without
invalidating the remainder of such provision or by the remaining provisions of
this Third Amended Note.

 

	
  MAKER

  	
   

  	
  PAYEE

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Mark Caputo

  	
   

  	
  By:

  	
  /s/ Michael T. Flavin

  
	
  Name:

  	
  Mark Caputo

  	
   

  	
  Name:

  	
  Michael T. Flavin,
  Ph.D.

  
	
  Its:

  	
  Vice President
  Accounting and Controller

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}]]