EXHIBIT 10.44
AMENDMENT
TO AMENDED AND RESTATED 7.5% SECURED CONVERTIBLE
PROMISSORY
NOTE DUE OCTOBER 25, 2007
This
Amendment dated October 25, 2007, (the
“Amendment”) amends certain provisions of the
Amended and Restated 7.5% Secured Convertible Promissory Note
in the original principal amount of $4,000,000.00, issued by
Access Pharmaceuticals, Inc., a Delaware corporation (the
“
Company ”)
(No. PN-2006-1-1AR), due October 25, 2007 (the “Note”),
and is by and between the Company and SCO Capital Partners LLC
(“
Holder ”).
Terms not otherwise defined herein which are defined in the Note
shall have the same respective meanings herein as
therein.
WHEREAS,
the Company and Holder have agreed to modify certain terms and
conditions of the Note as specifically set forth in this
Amendment.
NOW,
THEREFORE, in consideration of the mutual agreements contained
herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows:
1.
Amendment to the Note .
The Note is hereby amended as follows:
All
references to "October 25, 2007" in the Note are hereby
deleted and replaced with "November 15, 2007."
2.
Condition to Effectiveness .
This Amendment shall not become effective until Holder receives a
counterpart of this Amendment executed by the Company.
3.
Ratification, Etc .
Except as expressly amended hereby, all terms and conditions of the
Note, as amended, are hereby ratified and confirmed in all respects
and shall continue in full force and effect. The obligations under
the Note shall be deemed to be continuously outstanding and shall
not be deemed to have been repaid and readvanced or refinanced
hereunder or hereby. The Note and this Amendment shall be read and
construed as a single agreement. All references to the Note shall
hereafter refer to such Note, as amended hereby.
4.
No Novation .
THE COMPANY AND HOLDER HAVE ENTERED INTO THIS AMENDMENT SOLELY TO
AMEND CERTAIN OF THE TERMS OF THE NOTE. THEY DO NOT INTEND THIS
AMENDMENT NOR THE TRANSACTIONS CONTEMPLATED HEREBY TO BE, AND THIS
AMENDMENT AND THE TRANSACTION CONTEMPLATED HEREBY SHALL NOT BE
CONSTRUED TO BE, A NOVATION OF ANY OF THE OBLIGATIONS OWING UNDER
OR IN CONNECTION WITH THE NOTE.
5.
No Waiver .
Nothing contained herein shall constitute a waiver of, impair or
otherwise affect, any obligation of the Company under any Note or
any rights of any Holder consequent thereon.
6.
Counterparts .
This Amendment may be executed in one or more counterparts, each of
which shall be deemed an original but which together shall
constitute one and the same instrument.
7.
Governing
Law .
This Amendment shall be governed by, and construed in accordance
with, the laws of the State of New York (without reference to
conflict of laws).
IN
WITNESS WHEREOF, the parties hereto have executed this
Amendment as a document under seal as of the date first above
written.
Company :
ACCESS
PHARMACEUTICALS, INC.
By:
/s/ Stephen B. Thompson
Name:
Stephen B. Thompson
Title:
Vice President, Chief Financial Officer
Holder :
By:
/s/ Steven H. Rouhandeh
Name:
Steven H. Rouhandeh
Title:
Chairman
AMENDMENT
TO AMENDED AND RESTATED 7.5% SECURED CONVERTIBLE
PROMISSORY
NOTE DUE OCTOBER 25, 2007
This
Amendment dated October 25, 2007, (the
“Amendment”) amends certain provisions of the
Amended and Restated 7.5% Secured Convertible Promissory Note
in the original principal amount of $400,000.00, issued by
Access Pharmaceuticals, Inc., a Delaware corporation (the
“
Company ”)
(No. PN-2006-FO1-1AR), due October 25, 2007 (the
“Note”), and is by and between the Company and SCO
Capital Partners LLC (“
Holder ”).
Terms not otherwise defined herein which are defined in the Note
shall have the same respective meanings herein as
therein.
WHEREAS,
the Company and Holder have agreed to modify certain terms and
conditions of the Note as specifically set forth in this
Amendment.
NOW,
THEREFORE, in consideration of the mutual agreements contained
herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows:
1.
Amendment to the Note .
The Note is hereby amended as follows:
All
references to "October 25, 2007" in the Note are hereby
deleted and replaced with "November 15, 2007."
2.
Condition to Effectiveness .
This Amendment shall not become effective until Holder receives a
counterpart of this Amendment executed by the Company.
3.
Ratification, Etc .
Except as expressly amended hereby, all terms and conditions of the
Note, as amended, are hereby ratified and confirmed in all respects
and shall continue in full force and effect. The obligations under
the Note shall be deemed to be continuously outstanding and shall
not be deemed to have been repaid and readvanced or refinanced
hereunder or hereby. The Note and this Amendment shall be read and
construed as a single agreement. All references to the Note shall
hereafter refer to such Note, as amended hereby.
4.
No Novation .
THE COMPANY AND HOLDER HAVE ENTERED INTO THIS AMENDMENT SOLELY TO
AMEND CERTAIN OF THE TERMS OF THE NOTE. THEY DO NOT INTEND THIS
AMENDMENT NOR THE TRANSACTIONS CONTEMPLATED HEREBY TO BE, AND THIS
AMENDMENT AND THE TRANSACTION CONTEMPLATED HEREBY SHALL NOT BE
CONSTRUED TO BE, A NOVATION OF ANY OF THE OBLIGATIONS OWING UNDER
OR IN CONNECTION WITH THE NOTE.
5.
No Waiver .
Nothing contained herein shall constitute a waiver of, impair or
otherwise affect, any obligation of the Company under any Note or
any rights of any Holder consequent thereon.
6.
Counterparts .
This Amendment may be executed in one or more counterparts, each of
which shall be deemed an original but which together shall
constitute one and the same instrument.
7.
Governing
Law .
This Amendment shall be governed by, and construed in accordance
with, the laws of the State of New York (without reference to
conflict of laws).
IN
WITNESS WHEREOF, the parties hereto have executed this
Amendment as a document under seal as of the date first above
written.
Company :
ACCESS
PHARMACEUTICALS, INC.
By:
/s/ Stephen B. Thompson
Name:
Stephen B. Thompson
Title:
Vice President, Chief Financial Officer
Holder :
By:
/s/ Steven H. Rouhandeh
Name:
Steven H. Rouhandeh
Title:
Chairman
AMENDMENT
TO AMENDED AND RESTATED 7.5% SECURED CONVERTIBLE
PROMISSORY
NOTE DUE OCTOBER 25, 2007
This
Amendment dated October 25, 2007, (the
“Amendment”) amends certain provisions of the
Amended and Restated 7.5% Secured Convertible Promissory Note
in the original principal amount of $400,000.00, issued by
Access Pharmaceuticals, Inc., a Delaware corporation (the
“
Company ”)
(No. PN-2006-DEC-1-1AR), due October 25, 2007 (the
“Note”), and is by and between the Company and SCO
Capital Partners LLC (“
Holder ”).
Terms not otherwise defined herein which are defined in the Note
shall have the same respective meanings herein as
therein.
WHEREAS,
the Company and Holder have agreed to modify certain terms and
conditions of the Note as specifically set forth in this
Amendment.
NOW,
THEREFORE, in consideration of the mutual agreements contained
herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows:
1.
Amendment to the Note .
The Note is hereby amended as follows:
All
references to "October 25, 2007" in the Note are hereby
deleted and replaced with "November 15, 2007."
2.
Condition to Effectiveness .
This Amendment shall not become effective until Holder receives a
counterpart of this Amendment executed by the Company.
3.
Ratification, Etc .
Except as expressly amended hereby, all terms and conditions of the
Note, as amended, are hereby ratified and confirmed in all respects
and shall continue in full force and effect. The obligations under
the Note shall be deemed to be continuously outstanding and shall
not be deemed to have been repaid and readvanced or refinanced
hereunder or hereby. The Note and this Amendment shall be read and
construed as a single agreement. All references to the Note shall
hereafter refer to such Note, as amended hereby.
4.
No Novation .
THE COMPANY AND HOLDER HAVE ENTERED INTO THIS AMENDMENT SOLELY TO
AMEND CERTAIN OF THE TERMS OF THE NOTE. THEY DO NOT INTEND THIS
AMENDMENT NOR THE TRANSACTIONS CONTEMPLATED HEREBY TO BE, AND THIS
AMENDMENT AND THE TRANSACTION CONTEMPLATED HEREBY SHALL NOT BE
CONSTRUED TO BE, A NOVATION OF ANY OF THE OBLIGATIONS OWING UNDER
OR IN CONNECTION WITH THE NOTE.
5.
No Waiver .
Nothing contained herein shall constitute a waiver of, impair or
otherwise affect, any obligation of the Company under any Note or
any rights of any Holder consequent thereon.
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