Exhibit 10.48 THIRD ALLONGE TO EQUIPMENT LOAN NOTE This modification, effective September 10, 2001, to the Equipment Loan Note dated June 10, 1999, as amended, payable to the order of FLEET NATIONAL BANK, Successor in Interest to Summit Bank ("Note")...

Exhibit 10.48

THIRD ALLONGE TO
EQUIPMENT LOAN NOTE

This modification, effective September 10, 2001, to the Equipment Loan Note
dated June 10, 1999, as amended, payable to the order of FLEET NATIONAL BANK,
Successor in Interest to Summit Bank ("Note") and to which Note these presents
are so firmly affixed as to become a part thereof.

Notwithstanding anything to the contrary set forth in the Note, the Note is
hereby amended as follows:

A. The third paragraph on page 1 of the Note is hereby amended to read as
follows:

In the absence of Default (as defined in the Loan Agreement), the term
of this Note is automatically extended for an additional seven (7)
year term commencing on the Conversion Date. Thereupon, this Note
becomes repayable in eighty-four (84) equal monthly installments of
principal, together with accrued interest based upon the applicable
LIBOR Rate (Equipment) as defined in the Loan Agreement, as selected
by the Borrower pursuant to the Loan Agreement. The first payment is
to be made on the first day of the second month following the
Conversion Date and each subsequent payment is to be made on the same
day of each successive month. Upon the eighty-fourth (84th) such
installment payment, the full amount of unpaid principal, together
with unpaid accrued interest is due and payable.

B. The last paragraph on page 2 of the Note (beginning with the words "In
the event that this Note is prepaid......") and ending on page 3 of the Note,
and the first full paragraph on page 3 of the Note (ending with the words ".....
committed financing"), referring to prepayment premiums, are hereby deleted.

C. All references to "Base Rate" are hereby amended to refer to the "Prime
Rate." The definition of "Base Rate" is deleted and replaced with the following
definition of "Prime Rate:" The Prime Rate of Lender means the fluctuating Prime
Rate of interest established by Fleet National Bank from time to time whether or
not such rate shall be otherwise published. The Prime Rate is established for
the convenience of Lender. It is not necessarily Lender's lowest rate. In the
event that there should be a change in the Prime Rate of Lender, such change
shall be effective on the date of such change without notice to Borrower or any
guarantor, endorser or surety. Any such change will

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not effect or alter any other term or conditions of this Note.

Except as specifically modified herein, all of the terms and conditions of the
Note shall remain in full force and effect and any term in initial capitals and
not otherwise defined herein shall have the meaning ascribed thereto in the
Note.

Witness: OSTEOTECH, INC.
A Delaware Corporation

/s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
--------------------- -------------------------
▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Executive Vice President

Witness: OSTEOTECH INVESTMENT
CORPORATION
A New Jersey Corporation

Witness: CAM IMPLANTS, INC.
A Colorado Corporation

/s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
--------------------- -------------------------
▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Chief Financial Officer

Witness: OSTEOTECH, B.V.
A Company of The Netherlands

/s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
--------------------- -------------------------
▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Managing Director

Witness: H.C. IMPLANTS, B.V.
A Company of The Netherlands

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Signatures continued ......

............................ continuation of signatures to Third Allonge to
Equipment Loan Note

Witness: CAM IMPLANTS, B.V.
A Company of The Netherlands

Witness: OSTEOTECH/CAM SERVICES, B.V.
A Company of The Netherlands

Witness: OST DEVELOPPEMENT
A Corporation of France

E-154

Exhibit 10.48 THIRD ALLONGE TO EQUIPMENT LOAN NOTE This modification, effective September 10, 2001, to the Equipment Loan Note dated June 10, 1999, as amended, payable to the order of FLEET NATIONAL BANK, Successor in Interest to Summit Bank ("Note")...

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