Document:

Framework Agreement

 Exhibit 10.69.1 
  
 Framework Agreement 
  
 This Framework Agreement is entered into on August 30, 2005 effective July 28, 2005 among Barnes-Jewish Hospital (“Barnes”), Remington Capital,
LLC (“Remington”) and Synbiotics Corporation (“Synbiotics”). 
  
 WHEREAS, the face amount of the below identified 2005 Note became due and payable from Synbiotics to Barnes on July 28, 2005. A payment default on the 2005 Note results in an event of default under the below
identified 2006 Note; 
  
 WHEREAS, Synbiotics represents and
warrants that it wholly lacks the monetary resources to pay either the 2005 Note or the 2006 Note at this time, and that its cash and marketable securities have a current value less than $1,000,000; 
  
 WHEREAS, Synbiotics represents that it would need to file for bankruptcy
relief or pursue other remedies in the event Barnes pursues collection of the 2005 Note and/or the 2006 Note in full at this time; 
  
 WHEREAS, Remington represents that its affiliates are the controlling shareholders of Synbiotics, and Remington owns secured debt issued by Synbiotics
which secured debt exceeds the face value of the 2005 Note and the 2006 Note; 
  
 WHEREAS, the parties wish to restructure the 2005 Note and the 2006 Note to give Synbiotics additional time to meet its obligations thereunder, 
  
 Now therefore, the parties agree as follows: 
  

	 	1.	At a closing to occur immediately upon the signing of this Framework Agreement: 

  

	 	(a)	On the date hereof, Synbiotics shall wire transfer to Barnes $100,000 as a payment under the below identified $600,000 Note. This $100,000 shall be in addition to the $50,000
payment Barnes has already received under the 2005 Note. 

  

	 	(b)	The Promissory Note in the original amount of $1,000,000 payable July 28, 2005 (“2005 Note”) shall be restructured into two notes; one in the principal amount of $600,000
(the “$600,000 Note”) a copy is attached as Exhibit A and one in the amount of $350,000 (the “$350,000 Note”) a copy is attached as Exhibit B. The $100,000 wire transfer from Synbiotics to Barnes in Section 1 (a) above is the
first payment due under the $600,000 Note. The original 2005 Note shall become null and void upon the effectuation of this Agreement, and Barnes agrees to return the original 2005 Note to Synbiotics for cancellation. 

  

	 	(c)	Barnes and Remington shall enter into and close a Loan Purchase Agreement. 

	 	(d)	Barnes shall assign and deliver the new $350,000 Note from Synbiotics and the Promissory Note in the amount of $1,500,000 from Synbiotics payable July 28, 2006 (the “2006
Note”) (collectively the “Purchased Notes”) to Remington against delivery of the cash consideration specified in the Loan Purchase Agreement. 

  

	 	(e)	As of immediately before such closing, Barnes expressly waives and releases Synbiotics from any defaults under the 2005 Note and the 2006 Note existing on the date hereof or
resulting from the sale of the Purchased Notes from Barnes to Remington. The terms of the Settlement Agreement dated July 28, 1998 between Barnes and Synbiotics remain unchanged. 

  

	 	2.	The effectuation of each of the matters specified in Section 1 above is expressly conditioned upon the simultaneous effectuation of each and every one of the other matters specified
in Section 1 above. 

  

	 	3.	Synbiotics will not pay, and Remington will not demand, and the Purchased Notes shall not be deemed in default because of the failure of Synbiotics to pay, any cash principal
payments on the Purchased Notes to Remington until the earlier of (a) January 28, 2008 or (b) the date the $600,000 Note is paid in full. In no event shall any default on the Purchased Notes constitute a default on the $600,000 Note or on the
Settlement Agreement. 

  

	 	4.	The Framework Agreement and other written agreements specified herein constitute the entire agreement among the parties, and between each respective pair of parties, with regard to
the subject matter hereof and thereof, and supersede all prior and contemporaneous agreements, commitments and discussions with regard to such subject matter. This Agreement can be amended only in writing. 

  

			
	 BARNES – JEWISH HOSPITAL

		
	 By:
	 	 /s/ Mark H. Krieger, VP & CFO

	
	 SYNBIOTICS CORPORATION

		
	 By:
	 	 /s/ Keith A. Butler

	
	 REMINGTON CAPITAL, LLC

		
	 By:
	 	 /s/ Jerry L. Ruyan, President

  
 Exhibit A 

 
 Promissory Note 
  
 Incorporated herein by reference to Exhibit 4.7 to this Current Report on Form
8-K. 

  
 Exhibit B 

 
 Promissory Note 
  
 Incorporated herein by reference to Exhibit 4.8 to this Current Report on Form
8-K.Amendment No. 6 to Receivables Purchase Agreement

 Exhibit 10.1 
  
 AMENDMENT NO. 6 
  
 Dated as of August 26, 2005 
  
 to 
  
 RECEIVABLES PURCHASE AGREEMENT 
  
 Dated as of December 21, 1999 as 
 Amended and Restated as of March 31, 2000 
  
 THIS AMENDMENT NO. 6 (this “Amendment”) dated as of August 26, 2005
is entered into among: 
  

	 	(i)	AILIC RECEIVABLES CORPORATION, a Delaware corporation (“Seller”), 

  

	 	(ii)	AMERICAN INCOME LIFE INSURANCE COMPANY, an insurance company organized under the laws of Indiana (“AIL”), as the initial Servicer (the Servicer together with the
Seller, the “Seller Parties” and each a “Seller Party”), 

  

	 	(iii)	PREFERRED RECEIVABLES FUNDING CORPORATION, a Delaware corporation (“PREFCO”), 

  

	 	(iv)	certain financial institutions parties hereto as the “Financial Institutions” (and, together with PREFCO, the “Purchasers”), and

  

	 	(v)	JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, SUCCESSOR BY MERGER TO BANK ONE, NA (with headquarters in Chicago, Illinois), as agent for the Purchasers (the “Agent”).

  
 PRELIMINARY STATEMENTS 
  
 A. Reference is made to that certain Receivables Purchase Agreement dated as
of December 21, 1999 as amended and restated as of March 31, 2000 (as the same may have been further amended, restated, supplemented or otherwise modified since such date, the “Receivables Purchase Agreement” or the
“Agreement”) among the Seller, AIL, PREFCO, certain financial institutions and the Agent. Unless defined elsewhere herein, capitalized terms used in this Agreement shall have the meanings assigned to such terms in the Receivables
Purchase Agreement. 
  

 1 

 B. The parties thereto have agreed to amend the Agreement on the terms and conditions set forth herein.

  
 NOW, THEREFORE, in consideration of the premises set forth
above and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Seller Parties, PREFCO, the Financial Institutions and the Agent hereby agree as follows: 
  
 SECTION 1. Amendments to the Receivables Purchase Agreement. The
Receivables Purchase Agreement is, effective the date hereof and subject to the satisfaction of the conditions precedent set forth in Section 2 hereof, hereby amended to 
  
 (a) All references in the Agreement to “Bank One” or “Bank One, NA (Main Office
Chicago)” shall mean and constitute references to “JPMorgan Chase Bank, N.A. (successor by merger to Bank One, NA (Main Office Chicago)).” 
  
 (b) Section 4.1 of the Agreement is hereby amended to delete the reference to “pursuant to Article XIII” appearing in
such section and to replace such reference with the following text: 
  
 “pursuant to a Liquidity Agreement” 
  
 (c) Section 4.4 of the Agreement is hereby amended to add the following sentence at the end of such section: 
  
 “Until Seller gives notice to the Agent of another
Discount Rate, the initial Discount Rate for any Purchaser Interest transferred to the Financial Institutions pursuant to the terms and conditions hereof or any Liquidity Agreement shall be the Base Rate.” 
  
 (d) Section 6.2 of the Agreement is hereby amended to amend
and restate the parenthetical appearing in the first sentence of such section to read as follows: 
  
 “(other than pursuant to a Liquidity Agreement)” 
  
 (e) Section 6.2 of the Agreement is hereby further amended to (1) the delete the word “and”
appearing after clause (i) of such section, (2) delete the period following clause (ii) of such definition and to replace such period with a semicolon, and (3) add the following clause (iii) thereto: 
  
 “and (iii) if such purchase of a Purchaser Interest or Reinvestment
is funded by PREFCO, PREFCO shall be party to unexpired Liquidity Agreements with an aggregate commitment limit equal to at least 102% of the Commitments. “ 
  

 2 

 (f) Section 12.1(a) of the Agreement is hereby amended to delete the reference to
“pursuant to Section 13.1” appearing in the first sentence of such section and to replace such reference with the following text: 
  
 “pursuant to a Liquidity Agreement” 
  
 (g) Section 12.1(c) of the Agreement is hereby amended to insert the words “and the related Liquidity
Agreement” immediately after the phrase “and willing to participate in this Agreement” appearing in clause (y) of such section. 
  
 (h) Section 12.2 of the Agreement is hereby amended to delete the reference to “obligation to pay PREFCO its Acquisition
Amounts” appearing in the first sentence of such section and to replace such reference with the following text: 
  
 “obligations to PREFCO pursuant to a Liquidity Agreement” 
  
 (i) Article XII to the Agreement is hereby amended to add the following Section 12.3 to the end of such
article: 
  
 “Section 12.3 Terminating
Financial Institutions. 
  
 (a) Each
Financial Institution hereby agrees to deliver written notice to the Agent not more than 30 days and not less than 5 days prior to the Liquidity Termination Date indicating whether such Financial Institution intends to renew its Commitment
hereunder. If any Financial Institution fails to deliver such notice on or prior to the date that is 5 Business Days prior to the Liquidity Termination Date, such Financial Institution will be deemed to have declined to renew its Commitment (each
Financial Institution which has declined or has been deemed to have declined to renew its Commitment hereunder, a “Non-Renewing Financial Institution”). The Agent shall promptly notify PREFCO of each Non-Renewing Financial
Institution and PREFCO, in its sole discretion, may (A) to the extent of Commitment Availability, declare that such Non-Renewing Financial Institution’s Commitment shall, to such extent, automatically terminate on a date specified by PREFCO on
or before the Liquidity Termination Date or (B) upon one (1) Business Days’ notice to such Non-Renewing Financial Institution assign to such Non-Renewing Financial Institution on a date specified by PREFCO its Pro Rata Share of the aggregate
Purchaser Interests then held by PREFCO, subject to, and in accordance with the applicable Liquidity Agreement. In addition, PREFCO may, in its sole discretion, at any time (x) to the extent of Commitment Availability, declare that any Affected
Financial Institution’s Commitment shall automatically terminate on a date specified by PREFCO or (y) assign to any Affected Financial Institution on a date 
  

 3 

 specified by PREFCO its Pro Rata Share of the aggregate Purchaser Interests then held by PREFCO,
subject to, and in accordance with the applicable Liquidity Agreement (each Affected Financial Institution or each Non-Renewing Financial Institution is hereinafter referred to as a “Terminating Financial Institution”). The parties
hereto expressly acknowledge that any declaration of the termination of any Commitment, any assignment pursuant to this Section 12.3 and the order of priority of any such termination or assignment among Terminating Financial Institutions
shall be made by PREFCO in its sole and absolute discretion. 
  
 (b) Upon any assignment to a Terminating Financial Institution as provided in this Section 12.3, any remaining Commitment of such Terminating Financial Institution shall automatically terminate. Upon
reduction to zero of the Capital of all of the Purchaser Interests of a Terminating Financial Institution (after application of Collections thereto pursuant to Sections 2.2 and 2.3) all rights and obligations of such Terminating
Financial Institution hereunder shall be terminated and such Terminating Financial Institution shall no longer be a “Financial Institution” hereunder; provided, however, that the provisions of Article X shall continue in effect for
its benefit with respect to Purchaser Interests held by such Terminating Financial Institution prior to its termination as a Financial Institution.” 
  

(j) Article XIII of the Agreement is hereby amended to delete the text of such article in its entirety and to replace such text with
the word “Reserved.” 
  
 (k) Section
14.1(b)(i)(D) of the Agreement is hereby amended to delete the parenthetical appearing therein and to replace such parenthetical with the following parenthetical: 
  
 “(except as may be required pursuant to a Liquidity Agreement)” 
  
 (l) Section 14.13 of the Agreement is hereby amended to
delete the reference to “pursuant to Section 13.1” appearing in the second sentence of such section and to replace such reference with the following text: 
  
 “pursuant to a Liquidity Agreement” 
  
 (m) The definition of “Broken Funding
Costs” set forth in Exhibit I of the Agreement is hereby amended to delete the reference to “under Article XIII” appearing in clause (iii) of such definition and to replace such reference with the following text:

  
 “pursuant to a Liquidity
Agreement” 
  

 4 

 (n) The definition of “Broken Funding Costs” set forth in Exhibit I of
the Agreement is hereby amended to delete the reference to “under Article XIII” appearing in clause (iii) of such definition and to replace such reference with the following text: 
  
 “pursuant to a Liquidity Agreement”

  
 (o) The definition of
“Commitment” set forth in Exhibit I of the Agreement is hereby amended and restated to read as follows: 
  
 “Commitment” means, for each Financial Institution, the commitment of such Financial Institution to purchase Purchaser
Interests from (i) Seller and (ii) PREFCO, in an amount not to exceed (A) in the aggregate, the amount set forth opposite such Financial Institution’s name on Schedule A to this Agreement, as such amount may be modified in accordance
with the terms hereof and (ii) with respect to any individual purchase hereunder, its Pro Rata Share of the Purchase Price therefor. Solely for purposes of reference, Schedule A also sets forth the commitment of each Financial Institution as
of the date hereof to purchase its ratable share of Purchaser Interests from PREFCO in accordance with the terms and provisions of the applicable Liquidity Agreement between PREFCO and such Financial Institution, it being understood that such amount
may be modified from time to time in accordance with the terms of such Liquidity Agreement. 
  
 (p) The definition of “Funding Source” set forth in Exhibit I of the Agreement is hereby amended and restated to read as
follows: 
  
 “Funding Source”
means (i) any Financial Institution or (ii) any insurance company, bank or other funding entity providing liquidity, credit enhancement or back-up purchase support or facilities to PREFCO, including a Liquidity Agreement. 
  
 (q) The definition of the term “Liquidity
Termination Date” set forth in Exhibit I of the Agreement is hereby amended and restated to read as follows: 
  
 “Liquidity Termination Date” means August 25, 2006. 
  
 (r) The definition of “Pro Rata Share” set forth in Exhibit I of the Agreement is hereby
amended and restated to read as follows: 
  
 “Pro Rata Share” means, for each Financial Institution, a percentage equal to (i) the Commitment of such Financial Institution, divided by (ii) the aggregate amount of all Commitments of all Financial
Institutions hereunder, adjusted as necessary to give effect to the application of the terms of Section 12.3. 
  

 5 

 (s) The definition of “Tranche Period” set forth in Exhibit I to the
Agreement is hereby amended to include the following text immediately after the first reference to the term “Financial Institution” therein: 
  
 “, including any Purchaser Interest or an undivided interest in a Purchaser Interest assigned to a Financial Institution pursuant
to a Liquidity Agreement”. 
  
 (t) The
definition of “Yield” set forth in Exhibit I of the Agreement is hereby amended and restated to read as follows: 
  
 “Yield” means for each respective Tranche Period relating to Purchaser Interests of the Financial Institutions,
including, without limitation, any Purchaser Interests or undivided interests in Purchaser Interests assigned to a Financial Institution pursuant to a Liquidity Agreement, an amount equal to the product of the applicable Discount Rate for each
Purchaser Interest multiplied by the Capital of such Purchaser Interest for each day elapsed during such Tranche Period, annualized on a 360 day basis. 
  
 (u) Exhibit I to the Agreement is hereby amended to add the following definition of “Liquidity Agreement”: 
  
 “Liquidity Agreement” means any
agreement as may be in effect from time to time among PREFCO and the Financial Institutions or any Funding Source providing for the commitment of such Financial Institutions to purchase from PREFCO at any time all or any portion of PREFCO’s
Purchaser Interests. 
  
 (v) Exhibit I to the
Agreement is hereby amended to delete the definitions to the following terms in their entirety: 
  
 “Acquisition Amount” 
 “Adjusted Liquidity Price” 
 “PREFCO Residual” 
 “PREFCO Transfer Price” 
 “PREFCO Transfer Price Reduction” 
 “Reduction Percentage” 

 
 (w) Exhibit V to the Agreement is hereby deleted in its
entirety. 
  

 6 

 SECTION 2. Conditions Precedent. This Amendment shall become effective and be deemed effective as
of the date hereof upon receipt by the Agent of 
  
 (i) counterparts of this Amendment executed by each of the Seller Parties, the Purchasers and the Agent; and 
  
 (ii) a reaffirmation of guaranty executed by Torchmark, substantially in the form of Exhibit A hereto; 
  
 SECTION 3. Covenants, Representations and Warranties of the Seller
Parties. 
  
 3.l Upon the effectiveness of this Amendment,
each of the Seller Parties hereby reaffirms all covenants, representations and warranties made by it in the Receivables Purchase Agreement and agrees that all such covenants, representations and warranties shall be deemed to have been re-made as of
the effective date of this Amendment. 
  
 3.2 Each of the Seller
Parties hereby represents and warrants to the Purchasers and the Agent that: (a) this Amendment has been duly authorized by proper corporate proceedings of each Seller Party and constitutes the legal, valid and binding obligation of such Person,
enforceable against it in accordance with its terms, and (b) after giving effect to the amendment contained herein, no Amortization Event or Potential Amortization Event exists or will result from the execution of this Amendment. 
  
 SECTION 4. Reference to and Effect on the Receivables Purchase
Agreement. 
  
 4.l Upon the effectiveness of this Amendment,
each reference in the Receivables Purchase Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import shall mean and be a reference to the Receivables Purchase Agreement, as amended
hereby, and each reference to the Receivables Purchase Agreement in any and all other documents, instruments, agreements, notes, certificates and other writings of every kind and nature shall mean and be a reference to the Receivables Purchase
Agreement as amended hereby. 
  
 4.2 Except as specifically
amended above, the Receivables Purchase Agreement and all other documents, instruments and agreements executed and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed. 
  
 4.3 The execution, delivery and effectiveness of this Amendment shall not
operate as a waiver of any right, power or remedy of any Purchaser or the Agent under the Receivables Purchase Agreement or any other document, instrument or agreement executed in connection therewith, nor constitute a waiver of any provision
contained therein, except as specifically set forth herein. 
  

 7 

 4.4 Each party hereto agrees and acknowledges that this Amendment constitutes a “Transaction
Document” under and as defined in the Receivables Purchase Agreement. 
  
 SECTION 5. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (AND NOT THE LAW OF CONFLICTS) OF THE STATE OF ILLINOIS. 
  
 SECTION 6. Execution in 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 and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same instrument.
Delivery of an executed counterpart of this Amendment by facsimile shall be deemed as effective as delivery of an originally executed counterpart. Any party delivering an executed counterpart of this Amendment by facsimile will also deliver an
original executed counterpart, but the failure of any party to so deliver an original executed counterpart of this Amendment will not affect the validity or effectiveness of this Amendment. 
  
 SECTION 7. Successors and Assigns. This Amendment shall be binding
upon each of the Seller Parties, the Purchasers and the Agent and their respective successors and assigns, and shall inure to the benefit of each of the Seller Parties, the Purchasers and the Agent. 
  
 SECTION 8. Headings. Section headings in this Amendment are included
herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose. 
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 8 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective
officers thereunto duly authorized as of the date first above written. 
  

			
	AILIC RECEIVABLES CORPORATION
		
	By:	 	 /s/ Michael J. Klyce

	Name:	 	Michael J. Klyce
	Title:	 	Vice President & Treasurer
		
	Address:	 	3700 South Stonebridge Dr.
	 	 	McKinney, Texas 75070
	 	 	FAX: (972) 569-3282
		
	Attention:	 	Danny Almond
	
	AMERICAN INCOME LIFE INSURANCE COMPANY, as Servicer
		
	By:	 	 /s/ Michael J. Klyce

	Name:	 	Michael J. Klyce
	Title:	 	Assistant Treasurer
		
	Address:	 	1200 Wooded Acres
	 	 	Waco, Texas 76710
	 	 	FAX: (205) 325-4157
		
	Attention:	 	Danny H. Almond

  
 Amendment No.
6 
 dated as of August 26, 2005 
 to Receivables Purchase Agreement 
 dated as of December 21, 1999 

			
	PREFERRED RECEIVABLES FUNDING
CORPORATION
		
	By:	 	 /s/ Jill T. Lane

	Name:	 	Jill T. Lane
	Title:	 	Authorized Signatory
		
	Address:	 	c/o JPMorgan Chase Bank, N.A., as Agent
	 	 	Asset Backed Finance
	 	 	Suite IL1-0597
	 	 	10 South Dearborn Street
	 	 	Chicago, Illinois 60670-0019
		
	Fax:	 	(312) 732-1844
	
	JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, SUCCESSOR BY MERGER TO, BANK ONE, NA,
	as a Financial Institution and as Agent
		
	By:	 	 /s/ Jill T. Lane

	Name:	 	Jill T. lane
	Title:	 	Vice President
		
	Address:	 	JPMorgan Chase Bank, N.A.
	 	 	Asset Backed Finance
	 	 	Suite IL1-0597
	 	 	10 South Dearborn Street
	 	 	Chicago, Illinois 60670-0019
		
	Fax:	 	(312) 732-4487

  
 Amendment No.
6 
 dated as of August 26, 2005 
 to Receivables Purchase Agreement 
 dated as of December 21, 1999 

 Exhibit A 
  
 to 
  
 Amendment No. 6 
  
 Dated as of August 26, 2005 
  
 REAFFIRMATION OF
PERFORMANCE GUARANTY 
  
 The undersigned, TORCHMARK CORPORATION
(“Torchmark”), hereby: 
  
 (a) acknowledges, and
consents to, the execution of that certain Amendment No. 6 dated as of August 26, 2005 to the Receivables Purchase Agreement dated as of December 21, 1999 (as amended, restated, supplemented or otherwise modified from time to time, the
“Receivables Purchase Agreement”) among AILIC RECEIVABLES CORPORATION (“Seller”), AMERICAN INCOME LIFE INSURANCE COMPANY (“AIL”), as the initial Servicer, PREFERRED RECEIVABLES FUNDING CORPORATION (“PREFCO”),
the financial institutions party thereto as “Financial Institutions” and BANK ONE, NA (with headquarters in Chicago, Illinois), as “Agent”; 
  

(b) reaffirms all of its obligations under that certain Performance Guaranty (the “Performance Guaranty”) dated as of December 21, 1999 and
amended and restated as of March 31, 2000 made by Torchmark in favor of the Agent; and 
  
 (c) acknowledges and agrees that such Performance Guaranty remains in full force and effect (including, without limitation, with respect to the “Guaranteed Obligations” and “Obligations” (each as
defined in the Performance Guaranty) after giving effect to the Amendment Documents), and such Performance Guaranty is hereby ratified and confirmed. 
  
 Dated: August 26, 2005 
  

			
	TORCHMARK CORPORATION
		
	By	 	 /s/ Michael J. Klyce

	Name:	 	Michael J. Klyce
	Title:	 	Vice President & Treasurer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00090-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00090-of-00352.parquet"}]]