Exhibit 10.60
PROMISSORY NOTE
FOR VALUE RECEIVED, CYTORI THERAPEUTICS, INC., a
Delaware corporation, located at the address stated below (“
Borrower ”), promises to pay to the order of GENERAL
ELECTRIC CAPITAL CORPORATION or any subsequent holder hereof (each,
a “ Lender ”), the principal sum of SEVEN
MILLION, FIVE HUNDRED THOUSAND and 0/100 Dollars ($7,500,000.00)
or, if less, the aggregate unpaid principal amount of all Term
Loans made by Lender to or on behalf of Borrower pursuant to the
Agreement (as hereinafter defined). All capitalized
terms, unless otherwise defined herein, shall have the respective
meanings assigned to such terms in the Agreement.
This Promissory Note is issued pursuant to that
certain Loan and Security Agreement, dated as of October 14, 2008,
among Borrower, the guarantors from time to time party thereto,
General Electric Capital Corporation, as agent, and the other
lenders signatory thereto (as amended, restated, supplemented or
otherwise modified from time to time, the “ Agreement
”), is one of the Notes referred to therein, and is entitled
to the benefit and security of the Debt Documents referred to
therein, to which Agreement reference is hereby made for a
statement of all of the terms and conditions under which the loans
evidenced hereby were made.
The principal amount of the indebtedness
evidenced hereby shall be payable in the amounts and on the dates
specified in the Agreement. Interest thereon shall be
paid until such principal amount is paid in full at such interest
rates and at such times as are specified in the
Agreement. The terms of the Agreement are hereby
incorporated herein by reference.
All payments shall be applied in accordance with
the Agreement. The acceptance by Lender of any payment
which is less than payment in full of all amounts due and owing at
such time shall not constitute a waiver of Lender’s right
to
