FOURTH AMENDMENT OF SECURITY AGREEMENT
Exhibit
10.36
FOURTH AMENDMENT OF SECURITY
AGREEMENT
This
Fourth Amendment of Security Agreement (“Fourth Amendment”) is made as of
November 14, 2008 by BioTime, Inc., as the “Debtor,” in favor and for the
benefit of each “Secured Party,” and amends that certain Third Amended and
Restated Security Agreement, March 31, 2008.
1. “Security
Agreement” means the Third Amended and Restated Security Agreement, March 31,
2008, as amended by this Fourth Amendment.
2. “Credit
Agreement” means that certain Third Amended and Restated Revolving Line of
Credit Agreement, dated March 31, 2008, as amended by the Fourth Amendment of
Revolving Line of Credit Agreement.
3. “Secured
Party” means, individually and collectively, each person who has executed the
Credit Agreement as a Lender.
4. “Note”
has the meaning ascribed in the Credit Agreement.
5. Except
as amended or modified by this Fourth Amendment, all provisions of the Third
Amended and Restated Security Agreement remain in effect.
DEBTOR
BIOTIME,
INC.
By: /s/ ▇▇▇▇▇▇▇ ▇.
▇▇▇▇
Chief
Executive Officer
By: /s/
▇▇▇▇▇▇ ▇▇▇▇▇▇
Secretary