Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - ExamWorks Group, Inc. | exam20130628_8k.htm |
| EX-10 - EXHIBIT 10.2 - ExamWorks Group, Inc. | exam20130628_8kex10-2.htm |
| EX-10 - EXHIBIT 10.1 - ExamWorks Group, Inc. | exam20130628_8kex10-1.htm |
Exhibit 10.3
FAO Ian Hill
UK Independent Medical Services Ltd
Brenner House
Rainton Bridge Business Park
Houghton-Le-Spring
DH4 5RA
28th June 2013
Dear Ian
I am pleased to confirm the renewal of the Sales Finance Agreement between UK Independent Medical Services Ltd and Barclays Bank PLC, dated 30 September 2010.
Amendments
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The Minimum period of this agreement is amended to 24 months from the date that this letter is signed (which shall be the revised commencement period) |
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A Grouped Ceiling of £31,500,000 will be made available across UK Independent Medical Services Ltd, Premex Services Ltd and Premex Services (Liverpool) Ltd facilities upon written request by all entities ( 2 Directors signing per entity). For clarity, facility availability is to be calculated against each entities own debtor control account balance. |
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In relation to the following , existing covenant “Debts on payment terms over 720 days to be capped at a maximum of 10% of the ledger. A monthly report is required confirming the value of debts outstanding where payment terms are beyond 720 days”, a formal reporting system is to be in place by 31st August 2013 and in the interim the appropriate information is required on a best endeavours monthly basis. |
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The Discount Margin is reduced to 2.40% above Barclays Base Rate. |
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A renewal fee of £30,000 plus VAT is payable in respect of the facility renewal and amendment. |
All other terms and conditions remain as previously stated.
The amendments will be implemented upon receipt of the signed copy of this letter.
I trust that you will find this acceptable however if you have any queries please do not hesitate to contact me.
Yours sincerely
Signed on behalf of Barclays Bank PLC – Sales Financing
/s/Stuart Wainwright
Stuart Wainwright
Relationship Director
0777 554 2014
We hereby acknowledge and confirm the amendment as detailed in facility amendment letter dated 28 June 2013.
/s/Ian Hill 28/06/13
………………………. Dated……………………
Signed For and on behalf of UK Independent Medical Services Ltd – Director
/s/Donald Fowler 28/06/13
………………………. Dated……………………
Signed For and on behalf of UK Independent Medical Services Ltd – Director / Company Secretary