Perrigo Company Date: March 25, 1998 117 Water Street
Allegan, MI 49010
We are pleased to make available to you an uncommitted credit facility for general corporate purposes on the
terms set forth in this letter.
1. We agree to consider from time to time, in our sole discretion, your requests that we make Advances (as
hereinafter defined) to you, on a discount basis in an aggregate Stated Amount (as hereinafter defined) not to
exceed at any one time outstanding the amount set forth on Schedule I hereto as the "Facility Amount," on the
terms and conditions set forth below. This letter is not a commitment to lend but rather sets forth the procedures
to be used in connection with your requests for our making of Advances to you from time to time on or prior to
the termination hereof pursuant to Paragraph 11 hereof and, in the event that we make Advances to you
hereunder, your obligations to us with respect thereto. The Advances shall be evidenced by the "grid" promissory
note executed by you in an amount equal to the amount set forth on Schedule I hereto as the "Facility Amount",
such promissory note to be in substantially the form of the promissory note attached hereto (the "Note").
2. As used herein, the following terms shall have the following meanings (terms defined in the singular to have the
corresponding meanings when used in the plural, and vice versa):
"Advance" means any advance that we shall make to you hereunder pursuant to your request as provided herein.
Unless otherwise required by the context, any reference herein or in the Note to the account of an Advance shall
be construed to refer to the Discounted Proceeds thereof actually remitted to you or to your account as proved
"Discounted Amount" of any Advance means the amount by which the Stated Amount of such Advance exceeds
the Discounted Proceeds of such Advance.
"Discounted Proceeds" of any Advance means the net proceeds of such Advance transferred or wired to you or