Document:

Letter Agreement, dated March 30, 2005, between Silicon Valley and Nuvelo, Inc.

 EXHIBIT 10.52 
  
 March 30, 2005 
  
 Nuvelo, Inc. 
 675 Almanor Avenue 
 Sunnyvale, CA 94085 
  
 Re: Term Loan 
  
 Ladies and Gentlemen:

  
 This letter is written in connection with that certain Loan
and Security Agreement between Silicon Valley Bank (“Bank”) and Nuvelo, Inc. (“Borrower”), dated as of August 31, 2004, as amended, and related loan documents (as amended from time to time, collectively, the “Loan
Agreement”). Bank and Borrower desire to amend the terms of the Loan Agreement as more particularly described herein. Defined terms used but not otherwise defined herein shall have the same meanings as set forth in the Loan Agreement.

  
 Notwithstanding anything to the contrary contained under sub
letter (b) of Section 2.5 entitled “Interest Rates”, the interest rate for the second Term Loan occurring on March 30, 2005, shall accrue interest at a per annum rate equal to the greater of (i) 36 months Treasury Rate in effect on the
Funding Date plus 2.75% or (ii) 6.43%. All other Term Loans made after March 30, 2005 shall remain unchanged under the terms of the Loan Agreement. 
  
 By signing below and returning a copy of this letter to Bank, Borrower acknowledges that the Loan Agreement is hereby modified in accordance with the
provisions set forth above. Borrower further understands and agrees that in modifying the Loan Agreement, Bank is relying upon Borrower’s representations, warranties, and agreements, as set forth in the Loan Agreement. Except as expressly set
forth herein, the terms of the Loan Agreement shall remain unchanged and in full force and effect. Bank’s agreement to this modification shall in no way obligate Bank to make any future waivers or modifications to the Loan Agreement. Nothing in
this letter shall constitute a satisfaction of the Borrower’s indebtedness to Bank. It is the intention of Bank and Borrower to retain as liable parties all makers and endorsers of the Loan Agreement, unless the party is expressly released by
in writing. Unless expressly released herein, no maker, endorser or guarantor will be released by virtue of this letter. The terms of this paragraph apply not only to this letter, but also to all subsequent loan modification agreements. 

 The provisions of this letter shall not be deemed effective until such time as Borrower shall have
returned a countersigned copy to Bank. 
  

			
	 Very truly yours,

	
	 SILICON VALLEY BANK

		
	 By:
	 	 /s/ Ron Kundich

	 	 	Ron Kundich
	 	 	Vice President and
	 	 	Relationship Manager

  
 By executing below, the
undersigned acknowledges and confirms the effectiveness of this letter. 
  

			
	 NUVELO, INC.

		
	 By:
	 	 /s/ Gary Titus

	 Name:
	 	Gary Titus
	 Title:
	 	V.P. of Finance
	 Dated:
	 	March 30, 2005

  

 2.First Amendment to Charles & Colvard Created Moissanite Consignment Agreement

 Exhibit 10.81 
  
 FIRST AMENDMENT TO 
 CHARLES & COLVARD CREATED MOISSANITE 
 CONSIGNMENT AGREEMENT 
  
 THIS FIRST AMENDMENT (this “Amendment”) is made as of this 31st day of March, 2005, to that certain Charles &
Colvard Created Moissanite Consignment Agreement (the “Agreement”), dated August 16, 2004, by and between Charles & Colvard, Ltd., a North Carolina corporation (“Consignor”) and Reeves Park, Inc., a Minnesota corporation
(“Reeves Park”). 
  
 RECITALS: 
  
 WHEREAS, pursuant to the Agreement, Consignor consigns and delivers certain
Jewels (as defined in the Agreement) to Reeves Park, and in turn Reeves Park incorporates all such Jewels into fine jewelry items which Reeves Park consigns to J.C. Penney Corporation, Inc. (“JCPenney”); 
  
 WHEREAS, JCPenney desires to return to Reeves Park certain unsold consigned
jewelry containing Jewels (the “Unsold Jewelry”) in exchange for delivery of additional jewelry containing Jewels; 
  
 WHEREAS, Reeves Park desires to sell the Unsold Jewelry to other Reeves Park customers; 
  
 WHEREAS, Consignor is willing for Reeves Park to sell the Unsold Jewelry to other customers, subject to the terms of the
Agreement as amended by this amendment; and 
  
 WHEREAS, the
parties desire to extend the term of this Agreement; 
  
 NOW,
THEREFORE, the parties hereto agree as follows: 
  
 1.
Capitalized terms used herein and not otherwise defined shall have the meanings given them in the Agreement. 
  
 2. Section 1 of the Agreement is hereby amended and restated in its entirety to read as follows: 
  
 “1. Consigned Merchandise. 
  
 a. This Agreement pertains to any and all Jewels that
Consignor (i) consigns or delivers on consignment to or for the account of Reeves Park during 

 
the term of this Agreement. Subject to Section 1b. below, it is understood by the parties that Reeves Park shall incorporate all Jewels into fine jewelry it
shall consign to J.C. Penney Corporation, Inc. (“JCPenney”) for the purpose of introducing moissanite into approximately 703 JCPenney retail locations. Subject to Section 1b. below, the assortment of Jewels being consigned and delivered to
Reeves Park by Consignor will, subject to availability, be initially as set forth on Exhibit A, and subsequently such Exhibit A may be amended by a revised Exhibit A signed by both parties. Any such amended Exhibit A shall be incorporated and made a
part of this Agreement. 
  
 b. Notwithstanding anything in
Section 1a. hereof to the contrary, the parties acknowledge and agree that JCPenney may return to Reeves Park certain fine jewelry (the “Unsold Jewelry”) containing Jewels hereto (the “Returned Jewels”) in exchange for additional
jewelry containing Jewels. Upon the jewelry being returned by JCPenney, Reeves Park will immediately furnish to Consignor a listing of all of the Unsold Jewelry and a listing of the Returned Jewels contained within the Unsold Jewelry. Reeves Park
must use its best efforts to market and sale the Unsold Jewelry to customers as promptly as possible. So long as any Returned Jewels have not been paid for in full by Reeves Park or otherwise returned to Consignor in accordance with the terms of
this Agreement, during the term of this Agreement Reeves Park will furnish Consignor with a monthly sales report, which will report the Unsold Jewelry (and thus the Returned Jewels) sold in the previous month and the remaining Unsold Jewelry (and
thus Returned Jewels). Reeves Park will grant Consignor full access to its facilities and books and records in order for Consignor to monitor and verify the sales activity with respect to the Unsold Jewelry. Consignor will invoice Reeves Park for
all such Returned Jewels sold on net 60 day terms upon receipt of the monthly sales report. Upon Consignor’s reasonable request, Reeves Park will furnish a report to Consignor indicated the number, size and style of the Returned Jewels then
held by Reeves Park. Reeves Park shall immediately pay Consignor for any Returned Jewels that have been lost, stolen or destroyed. 
  
 3. Section 2a. of the Agreement is hereby amended by deleting the second sentence thereof and replacing it with a new sentence reading as follows:

  
 “Therefore Consignor will retain title to the Jewels
until either: (i) sold to customers of JCPenney, except in the case of Returned Jewels or (ii) in the case of the Returned Jewels sold to any customers of Reeves Park.” 
  
 4. Section 3 of the Agreement is hereby amended by deleting the first sentence thereof and replacing it with a new sentence
reading as follows: 
  
 “Except with respect to certain
payment terms set forth herein, delivery of the Jewels shall be on the terms set out in the Manufacturer’s Agreement between the parties (the “Manufacturer’s Agreement”).” 

 5. Section 8 of the Agreement is hereby amended by deleting the reference to the date of “January
31, 2005” and replacing with a reference to the date of “December 30, 2006”. 
  
 6. Except as otherwise set forth herein, the Agreement shall remain in full force and effect. 
  
 7. This Amendment may be signed in one or more counterparts, each of which shall be deemed an original, but all of which together shall be deemed a single
instrument. 
  
 IN WITNESS WHEREOF, the parties hereto have
executed this Amendment as of the date set forth above. 
  

			
	CHARLES & COLVARD, LTD.
		
	 By:
	 	 /s/ James R. Braun

	 Name:
	 	James R. Braun
	 Title:
	 	VP of Finance & CFO
	
	 REEVES PARK, INC.

		
	 By:
	 	 /s/ Klaus H. Jung

	Name:	 	Klaus H. Jung
	 Title:
	 	PresidentExtension of Forbearance Agreement

 Exhibit 10.1 
  

					
	Merrill Lynch	 	 	 	 Private Client Group
  

Merrill Lynch Business
 Financial Services Inc.
 222 North LaSalle Street
 17th Floor
 Chicago, Illinois 60601
 (312) 269-1358
 FAX: (312) 499-3252
  
 March 30, 2005

  
 Dreams Products, Inc. 
 2 South University Drive 
 Suite 325 
 Plantation, FL 33324 
  

	 	Re:	Amendment to Loan Documents 

  
 Ladies & Gentlemen: 
  
 This Letter Agreement will serve to confirm certain agreements of Merrill Lynch Business Financial Services Inc. (“MLBFS”), Dreams Products, Inc. (“Customer”), Dreams, Inc. (“Dreams”),
and Dreams Franchise Corporation (“Franchise”) with respect to: (i) that certain FORBEARANCE AGREEMENT dated as of December 30, 2004 between MLBFS on the one hand, and Customer, Dreams and Franchise (collectively, Customer, Dreams
and Franchise, the “Obligors” or the “Parties”) on the other hand (including any amendments and extensions thereto), and (ii) all other agreements between MLBFS and Obligors including without limitation the Loan Documents.
Capitalized terms used herein and not defined herein shall have the meaning set forth in the Forbearance Agreement, or if not defined in the Forbearance Agreement, the Loan Documents. The terms of this Letter Agreement supercede and replace in its
entirety that certain Letter Agreement dated as of March 11, 2005. 
  
 Subject to
the last sentence of this Letter Agreement, effective as of the date hereof, the Loan Documents are hereby amended as follows: 
  
 (a) Section 4(d)(i) of the Forbearance Agreement is hereby amended and restated in its entirety to read as follows: 
  
 The term “Termination Date” shall mean the first to occur of: (i)
the last Business Day of the seventeenth (17th) full calendar month following the Closing Date, or (ii) May 15,
2005, or (iii) if earlier, the date of termination of the WCMA Line of Credit pursuant to the terms of this Forbearance Agreement. 
  
 (b) Section 4(e)(i) of the Forbearance Agreement is hereby amended and restated in its entirety as follows: 
  
 The term “Maximum WCMA Line of Credit” shall mean, (i) as of the Effective Date (as hereinafter defined) through
and including the calendar day immediately preceding the “Change Date” (as hereinafter defined), $4,500,000.00 and (iii) effective the Change Date through May 15, 2005, $3,500,000.00. For purposes hereof, the term “Change Date”
shall mean the earlier to occur of (a) the date on which any “rights offering” or other equity offering undertaken by Customer or any Obligor shall by its terms expire (the “Rights Offering”) or (b) May 15, 2005. CUSTOMER
AGREES THAT IT WILL, WITHOUT DEMAND, INVOICING OR THE REQUEST OF MLBFS, FROM TIME TO TIME MAKE SUFFICIENT PAYMENTS ON 

  

 Dreams Products, Inc 
 Page Two of Three 
 March 30, 2005 
  

 
ACCOUNT OF THE WCMA LOAN BALANCE TO ASSURE THAT THE WCMA LOAN BALANCE WILL NOT AT ANY TIME EXCEED THE MAXIMUM WCMA LINE OF CREDIT, AS REDUCED EACH MONTH
PURSUANT TO THIS SECTION IN THE AMOUNTS SPECIFIED IN THIS SECTION. 
  
 (c)
Obligors hereby agree to pay to MLBFS, the sum of $60,000.00 (“Exit Fee”) if the Obligations under the Forbearance Agreement and Loan Documents are not fully repaid on or before May 15, 2005. The Exit Fee shall be in addition to all other
charges under the Forbearance Agreement and Loan Documents, and shall become a WCMA Loan, due immediately and added to the WCMA Loan Balance in the same manner as provided for accrued interest with respect to the WCMA Line of Credit. 
  
 (d) Obligors agree, concurrent with their execution of this Forbearance Agreement, to pay
MLBFS a non-refundable Forbearance Fee of $2,000.00 covering the period between the April 29, 2005, and May 15, 2005. Customer agrees to pay the Forbearance Fee with a check drawn on a non- Merrill Lynch checking account, and agrees that the
Forbearance Fee will be fully non-refundable once it has been paid. Obligors further agree that additional forbearance fees will become due and owing to MLBFS for any extensions to the Forbearance Agreement or this Modification Agreement granted by
MLBFS. By their execution of this Letter Agreement, the Obligors hereby consent to the foregoing modifications to the Forbearance Agreement, and hereby agree that except as expressly amended hereby, the Loan Documents, including but not limited to
the Forbearance Agreement, shall continue in full force and effect upon all of their terms and conditions. 
  
 Obligors acknowledge, warrant and agree, as a primary inducement to MLBFS to enter into this Agreement, that: (a) no Default or Event of Default has occurred and is continuing under the Forbearance Agreement or Loan
Documents, other than the Defaults or Events of Defaults referenced in the Forbearance Agreement; (b) each of the warranties of Obligors in the Forbearance Agreement and Loan Documents are true and correct as of the date hereof and shall be deemed
remade as of the date hereof; (c) no Obligor has any claim against MLBFS or any of its affiliates arising out of or in connection with the Forbearance Agreement or Loan Documents or any other matter whatsoever; and (d) no Obligor has any defense to
payment of any amounts owing, or any right of counterclaim for any reason under, the Forbearance Agreement or Loan Documents. 
  
 Notwithstanding the foregoing, if each Obligor does not execute and return the duplicate copy of this Letter Agreement to MLBFS by 5PM CST April 1, 2005, then all of said
amendments and agreements will, at the sole option of MLBFS, be void. 
  

			
	 Very truly yours,

	
	Merrill Lynch Business Financial Services Inc.
		
	 By:
	 	 
	 	 	 Bill Kocolowski
 Vice President

  

 Dreams Products, Inc 
 Page Two of Three 
 March 30, 2005 
  

 Agreed and Accepted: 
  

			
	Dreams Products, Inc.
		
	By: 	 	 

			
		
	 Printed Name: 
	 	 

			
		
	 Title: 
	 	 

  

			
	Dreams, Inc.
		
	By: 	 	 

			
		
	 Printed Name: 
	 	 

			
		
	 Title: 
	 	 

  

			
	Dreams Franchise Corporation
		
	By: 	 	 

			
		
	 Printed Name: 
	 	 

			
		
	 Title:

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