Attached files
| file | filename |
|---|---|
| EX-32.1 - EXHIBIT 32.1 - ASENSUS SURGICAL, INC. | c21306exv32w1.htm |
| EX-31.1 - EXHIBIT 31.1 - ASENSUS SURGICAL, INC. | c21306exv31w1.htm |
| EX-31.2 - EXHIBIT 31.2 - ASENSUS SURGICAL, INC. | c21306exv31w2.htm |
| EX-32.2 - EXHIBIT 32.2 - ASENSUS SURGICAL, INC. | c21306exv32w2.htm |
| EXCEL - IDEA: XBRL DOCUMENT - ASENSUS SURGICAL, INC. | Financial_Report.xls |
| 10-Q - FORM 10-Q - ASENSUS SURGICAL, INC. | c21306e10vq.htm |
EXHIBIT 10.1
FOURTH AMENDMENT TO NOTE AND SECURITY AGREEMENT
THIS FOURTH AMENDMENT (THE “FOURTH AMENDMENT”) DATED AUGUST 10, 2011 TO THE NOTE AND SECURITY
AGREEMENT (THE “AGREEMENT”) DATED AS OF SEPTEMBER 4, 2007 AMONG SAFESTICH MEDICAL, INC.,
SAFESTITCH, LLC (COLLECTIVELY THE “BORROWER”) AND THE UNDERSIGNED LENDERS (“LENDERS”), AS AMENDED.
RECITALS
WHEREAS, Borrower and Lenders (collectively, the “Parties”) are parties to the Agreement which
became effective on September 4, 2007; and
WHEREAS, the Borrowers and Lenders previously amended the Agreement to extend the Maturity
Date (as defined in the Agreement) from June 30, 2010 until June 30, 2011 and from June 30, 2011
until June 30, 2012, and
WHEREAS, the Borrowers and Lenders desire to again amend the Agreement to extend the Maturity
Date from June 30, 2012 until June 30, 2013.
NOW THEREFORE, in consideration of the mutual covenants and promises contained in the
Agreement and this Fourth Amendment and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Borrower and Lenders agree as follows:
AMENDMENT
1. Extension of Maturity Date. Section 3 of the Agreement is hereby amended and restated in
its entirety as follows:
Payments of Obligations, including Principal and Interest. The principal amount of the Loan evidenced hereby, together with any accrued
and unpaid interest, and any and all the Obligations, including unpaid costs, fees
and expenses accrued, such as Lender’s Expenses, shall be due and payable in full on
June 30, 2013 (the “Maturity Date”).
2. Governing Law. This Fourth Amendment shall be governed by the laws of the State of Florida
without regard to its conflict of laws rules or principles.
3. Amendments. Except as expressly amended hereby, the Agreement shall remain unmodified and
in full force and effect.
4. Entire Agreement. This Fourth Amendment and the Agreement and any schedules or exhibits
attached to the Agreement constitute the entire agreement of the Parties with respect to the
subject matter hereof and supersede all prior understandings and writings between the Parties
relating thereto.
5. Interpretation. Any capitalized terms used in this Fourth Amendment but not otherwise
defined shall have the meaning provided in the Agreement.
6. Counterparts. This Fourth Amendment may be executed manually, electronically in Adobe® PDF
file format, or by facsimile by the Parties, in any number of counterparts, each of which shall be
considered one and the same amendment and shall become effective when a counterpart hereof shall
have been signed by each of the Parties and delivered to the other Party.
IN WITNESS WHEREOF, the Parties hereto have caused this Fourth Amendment to be executed in
their names as of the date first written above.
| SAFESTITCH MEDICAL, INC. |
||||
| By: | /s/ James J. Martin | |||
| Name: | James J. Martin | |||
| Title: | Chief Financial Officer | |||
| SAFESTITCH LLC |
||||
| By: | /s/ James J. Martin | |||
| Name: | James J. Martin | |||
| Title: | Chief Financial Officer | |||
THE FROST GROUP, LLC
By:
|
/s/ Jane Hsiao
|
|||
| Title: Member |
JEFFREY G. SPRAGENS
By:
|
/s. Jeffrey G. Spragens
|
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