Exhibit 10.2
Riverneck Road, LLC
199 Riverneck Road
Chelmsford, MA 01824
AMENDMENT NO. 1 TO NOTE PURCHASE
AGREEMENT
As of December 22, 2005
MASSACHUSETTS MUTUAL LIFE
INSURANCE
COMPANY
C.M. LIFE INSURANCE
COMPANY
1295 State Street
Springfield, Massachusetts
01111
Ladies and Gentlemen:
Riverneck Road, LLC
, a Delaware limited liability
company (the “Company” ), hereby agrees with you
as follows:
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1.
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PRELIMINARY
STATEMENTS.
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The Company issued and sold
$7,650,000 aggregate principal amount of its 7.30% Senior Secured
Notes due November 2, 2014 (the “Notes” ,
as they may be amended, restated or otherwise modified from time to
time), pursuant to that certain Note Purchase Agreement, dated as
of October 26, 1999 (as in effect immediately prior to giving
effect to the amendments provided for in this Amendment Agreement
(as hereinafter defined), the “Existing Note
Agreement” , and as amended hereby, the “Note
Purchase Agreement” ). The register for the registration
and transfer of the Notes indicates that collectively you are
currently the holders of the entire outstanding principal amount of
the Notes.
Capitalized terms used herein and
not otherwise defined herein have the meanings ascribed to them in
the Existing Note Agreement.
Subject to Section 5, the
Existing Note Agreement is amended as provided for by this
Amendment No. 1 to Note Purchase Agreement (the
“Amendment Agreement” ) as follows:
(a) Amendment to
Definitions. Section 10 of the Existing Note Agreement
is hereby amended by:
(i) deleting the definition of “Capital
Lease” in its entirety and substituting in lieu thereof the
following new definition:
“ Capital Lease ”
shall mean, at any time, a lease with respect to which the lessee
is required concurrently to recognize the acquisition of an asset
and the incurrence of a liability in accordance with
GAAP.
(ii) deleting the definition of
“Subsidiary” in its entirety and substituting in lieu
thereof the following new definition:
“ Subsidiary ”
shall mean, as to any Person, any other Person in which such first
Person or one or more of its Subsidiaries or such first Person and
one or more of its Subsidiaries owns sufficient equity or voting
interests to enable it or them (as a group) ordinarily, in the
absence of contingencies, to elect a majority of the directors (or
Persons performing similar functions) of such second Person, and
any partnership or joint venture if more than a 50% interest in the
profits or capital thereof is owned by such first Person or one or
more of its Subsidiaries or such first Person and one or more of
its Subsidiaries (unless such partnership can and does ordinarily
take major business actions without the prior approval of such
Person or one or more of its Subsidiaries).
(iii) inserting, in alphabetical order, the following
new definitions:
“ Capital Lease
Obligations ” shall mean, with respect to any Person and
a Capital Lease, the amount of the obligation of such Person as the
lessee under such Capital Lease which would, in accordance with
GAAP, appear as a liability on a balance sheet of such
Person.
“ Consolidated EBIT
” shall mean, with respect to any Person and for any period,
Consolidated Net Income for such period, plus , to the
extent deducted in computing such Consolidated Net Income and
without duplication, (a) Consolidated Interest Expense for
such period, (b) income tax expense for such period,
(c) income (or loss) from extraordinary items and
(d) other non-cash charges for such period, all as determined
in accordance with GAAP. For purposes of calculating Consolidated
EBIT for any period, if during such period such Person shall have
acquired or disposed of substantially all of the assets of a
Subsidiary, then Consolidated EBIT for such period shall include
the pro forma effect of such acquisition or divestiture as if such
transaction had occurred at the beginning of the relevant
period.
“ Consolidated EBITDA
” shall mean, with respect to any Person and for any period,
Consolidated Net Income for such period, plus , to the
extent deducted in computing such Consolidated Net Income and
without duplication, (a) depreciation and amortization expense
for such period, (b) Consolidated Interest Expense for such
period, (c) income tax expense for such period,
(d) income (or loss) from extraordinary items and
(e) other non-cash charges for such period, all as determined
in accordance with GAAP. For purposes of calculating Consolidated
EBITDA for any period, if during such period such Person shall have
acquired or disposed of substantially all of the assets of a
Subsidiary, then Consolidated EBITDA for such period shall include
the pro forma effect of such acquisition or divestiture as if such
transaction had occurred at the beginning of the relevant
period.
“ Consolidated
Indebtedness ” shall have the same meaning as the defined
term “ Indebtedness ” in the Existing Note
Agreement and shall include Indebtedness of any
Subsidiary.
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“ Consolidated Interest
Expense ” shall mean, with respect to any Person and for
any period, the gross interest expense of such Person (including
imputed interest on Capital Lease Obligations) deducted in the
calculation of Consolidated Net Income for such period.
“ Consolidated Net
Income ” shall mean, with respect to any Person and any
period, the net income (or loss) of such Person and its
Subsidiaries for such period (taken as a cumulative whole), as
determined in accordance with GAAP, after eliminating all
offsetting debits and credits between such Person and its
Subsidiaries and all other items required to be eliminated in the
course of the preparation of consolidated financial statements of
such Person and its Subsidiaries in accordance with
GAAP.
“ Consolidated Net
Worth ” shall mean, with respect to any Person, as of the
date of any determination thereof, the sum of (1) the par
value (or value stated on the bo