50 of the Top 250 law firms use our Products every day
Blue
Crest Venture Finance Master Fund Limited
VIA
FACSIMILE AND
FEDERAL EXPRESS
Bioheart,
Inc.
13794 NW 4 th
Street,
Suite 212
Sunrise, FL 33325
RE:
Notice of Event of Default under Loan and Security
Agreement
We
refer to the Loan and Security Agreement, dated as of May 31,
2007 as amended from time to time (as amended, the
“Agreement”), between BlueCrest Venture Finance Master
Fund Limited, as assignee of BlueCrest Capital Finance, L.P.
(“ Lender” ) and Bioheart, Inc.
(“Borrower”). Capitalized terms used herein and not
otherwise defined shall have the meaning ascribed to them in the
Agreement.
Borrower
has failed to pay principal and interest, in the amount of
$180,660.87, due in respect of the Term Loan on January 1,2009
under the terms of Agreement and the Promissory Note dated
May 31, 2007 (the “Note”) in favor of Lender. The
foregoing constitutes an Event of Default under Section 8.1(a) of
the Agreement.
This
letter is notice that Lender has declared an Event of Default under
the Agreement, and that, unless such payment is made immediately,
together with a 2%
|
