Document:

Exhibit 10.1

 

AMENDMENT NO. 1 TO DEVELOPMENT, COMMERCIALIZATION AND SUPPLY AGREEMENT

 

This Amendment No. 1 (this “Amendment”) is made as of November 6, 2012 (the “Amendment No. 1 Effective Date”) by and among Pfizer Inc., a Delaware corporation (“Pfizer”), Auxilium Pharmaceuticals, Inc., a Delaware corporation (“Auxilium Pharmaceuticals”) and Auxilium International Holdings, Inc., a Delaware corporation (“Auxilium International”, together with Auxilium Pharmaceuticals, “Auxilium”). Pfizer and Auxilium are sometimes referred to herein individually as a “Party” and collectively as the “Parties.”

 

RECITALS

 

WHEREAS, Pfizer and Auxilium are parties to that certain Development, Commercialization and Supply Agreement, dated as of December 17, 2008 (the “Agreement”), relating to the development, commercialization and supply of Product for the Field (as such terms are defined in the Agreement);

 

WHEREAS, the Parties mutually desire to terminate the Agreement as of April 24, 2013 and accordingly desire to amend the Agreement in accordance with the terms set forth in this Amendment; and

 

WHEREAS, Section 16.1 of the Agreement requires any amendment of the Agreement to be in writing and executed by the Parties.

 

NOW, THEREFORE, in consideration of the foregoing premises, and the mutual representations, warranties and covenants contained in this Amendment, and for other good and valuable consideration, the Parties agree as follows:

 

ARTICLE 1

DEFINITIONS

 

All capitalized terms not otherwise defined in this Amendment have the respective meanings given to them in the Agreement.

 

ARTICLE 2

AMENDMENTS

 

2.1                               New Section 13.6.  A new Section 13.6 shall be added to the Agreement as follows:

 

“13.6                  Mutual Termination Date.  Notwithstanding anything in this Agreement to the contrary, unless terminated earlier in accordance with this Agreement, Auxilium and Pfizer each mutually agree that this Agreement shall terminate on April 24, 2013 (the “Mutual Termination Date”).  Prior to the Mutual Termination Date, the Parties shall continue to perform all of their respective obligations under this Agreement, subject to the terms and conditions of this Agreement.  For clarity, the Parties acknowledge and agree that the termination

 

1

 

of this Agreement under this Section 13.6 does not constitute expiration of this Agreement pursuant to Section 13.1.”

 

2.2                               Amendment to Section 14.1.  The heading and introductory clause at the beginning of Section 14.1 of the Agreement, up to but not including Sections 14.1.1 through 14.1.5, is hereby deleted in its entirety and replaced with the following:

 

“14.1                  Termination by Auxilium and Certain Terminations by Pfizer; Mutual Termination.  Without limiting any other legal or equitable remedies that a Party may have, if this Agreement is terminated by Auxilium in accordance with Section 13.3 or Section 13.5, or if this Agreement is terminated in accordance with Section 13.2 and Pfizer is the Breaching Party, or if this Agreement is terminated by Pfizer in accordance with Section 13.4, or upon the termination of this Agreement by operation of Section 13.6, then the following provisions shall apply:”

 

ARTICLE 3

MISCELLANEOUS

 

3.1                               Reaffirmation.  The Parties agree that, except as specifically amended by this Amendment, the Agreement, including Section 14.5 of the Agreement, continues to remain in full force and effect in accordance with its terms.

 

3.2                               Applicability of Certain Agreement Provisions; Non-Original Signatures.  The provisions of Sections 16.4, 16.10 and 16.11 of the Agreement, applied as if references in such Sections to “this Agreement” instead were references to “this Amendment,” shall apply to this Amendment as if fully set forth herein.  A copy or a facsimile of a signature shall be binding upon the signatory as if it were an original signature.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, each of the Parties has caused this Amendment to be executed by their duly authorized representative as of the date first set forth above.

 

 

	
PFIZER   INC.
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Geno J. Germano
    	
 
    
	
 
    	
Name:   Geno J. Germano
    	
 
    
	
 
    	
Title:   Nov. 5, 2012
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
AUXILIUM   PHARMACEUTICALS, INC.
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Adrian Adams
    	
 
    
	
 
    	
Name:   Adrian Adams
    	
 
    
	
 
    	
Title:   Chief Executive Officer and President
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
AUXILIUM   INTERNATIONAL HOLDINGS, INC.
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   James Englund
    	
 
    
	
 
    	
Name:   James Englund
    	
 
    
	
 
    	
Title:   President
    	
 
    

 

3Exhibit 10.1

 

FIRST AMENDMENT TO MASTER REVOLVING LINE OF CREDIT LOAN AGREEMENT

 

THIS FIRST AMENDMENT TO MASTER REVOLVING LINE OF CREDIT LOAN AGREEMENT, dated September 27, 2012 (this “Amendment”), between and among ACRC LENDER ONE LLC, a Delaware limited liability company (“Borrower”), ARES COMMERCIAL REAL ESTATE CORPORATION, a Maryland corporation (“Guarantor”) and CAPITAL ONE, NATIONAL ASSOCIATION, a national banking association (“Lender”).  Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Loan Agreement (as defined below).

 

RECITALS

 

WHEREAS, Borrower, Guarantor and Lender are parties to that certain Master Revolving Line of Credit Loan Agreement, dated as of May 18, 2012 (as may be amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”);

 

WHEREAS, in connection with the Loan Agreement, Guarantor executed and delivered to Lender a Guaranty Agreement, dated as of May 18, 2012 (the “Guaranty”); and

 

WHEREAS, Borrower, Guarantor and Lender have agreed to amend certain provisions of the Loan Agreement in the manner set forth herein.

 

Therefore, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Borrower, Guarantor and Lender each hereby agree as follows:

 

Amendment to Loan Agreement.  Section 7.13 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

 

7.13 Minimum Fixed Charge Coverage Ratio.  Beginning on the earlier to occur of (a) June 30, 2013 and (b) the last day of the first full calendar quarter following the calendar quarter in which Guarantor reports “Loans held for investment” in excess of $200,000,000.00 on its quarterly consolidated balance sheets, at the end of each Test Period while any Advances remain outstanding hereunder or Lender has any commitment hereunder, Borrower and Guarantor collectively shall maintain a Fixed Charge Coverage Ratio of at least 1.50 to 1.00.

 

Covenants.  Each of Borrower and Guarantor hereby represents and warrants to Lender, as of the date hereof, that (i) each is in compliance in all material respects with all of the terms and provisions set forth in Loan Agreement on its part to be observed or performed, and (ii) no Event of Default has occurred or is continuing.  Borrower and Guarantor each hereby confirms and reaffirms the covenants and agreements applicable to it contained in the Loan Agreement.

 

Acknowledgement.  Borrower and Guarantor hereby acknowledge that Lender is in compliance with its undertakings and obligations under the Loan Agreement and the other Loan Documents.

 

Limited Effect.  Except as expressly amended and modified by this Amendment, the Loan Agreement and each of the other Loan Documents shall continue to be, and shall remain, in full force and effect in accordance with their respective terms; provided, however, that upon the date hereof, each (x) reference therein and herein to the “Loan Documents” shall be deemed to include, in any event, this Amendment, (y) each reference to the “Loan Agreement” in any of the Loan Documents shall be deemed to be a reference to the Loan Agreement as amended hereby, and (z) each reference in the Loan Agreement to “this Agreement”, this “Loan Agreement”, “hereof”, “herein” or words of similar effect in referring to the Loan Agreement shall be deemed to be references to the Loan Agreement as amended by this Amendment.

 

 

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

 

GOVERNING LAW.

 

THIS AMENDMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO OR IN CONNECTION WITH THIS AGREEMENT, THE RELATIONSHIP OF THE PARTIES, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE PARTIES WILL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY CONFLICTS OF LAW PRINCIPLES OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW.

 

[signature page follows]

 

 

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

 

 

	
 
    	
BORROWER
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
ACRC LENDER ONE LLC, a Delaware limited liability   company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/Tae-Sik   Yoon
    
	
 
    	
 
    	
Name:   Tae-Sik Yoon
    
	
 
    	
 
    	
Title:   Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
GUARANTOR
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
ARES COMMERCIAL REAL ESTATE CORPORATION, a Maryland   corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/Tae-Sik   Yoon
    
	
 
    	
 
    	
Name:   Tae-Sik Yoon
    
	
 
    	
 
    	
Title:   Chief Financial Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
LENDER
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
CAPITAL ONE, NATIONAL ASSOCIATION, a national   banking association
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Gregory V. Orgeron
    
	
 
    	
 
    	
Name:   Gregory V. Orgeron
    
	
 
    	
 
    	
Title:   Vice President

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