AMENDMENT NO. 2
TO
NOTE AND EQUITY PURCHASE AGREEMENT
DOSIMETRY ACQUISITIONS (U.S.),
INC.
AMERICAN CAPITAL FINANCIAL
SERVICES, INC.
THE PURCHASERS IDENTIFIED ON
ANNEX A HERETO
Date of Amendment No. 2:
November 1, 2005
Date of Amendment No. 1: October 22, 2004
Original Date: June 23, 2004
AMENDMENT NO. 2
TO
NOTE AND EQUITY PURCHASE AGREEMENT
$24,944,400 Aggregate Principal
Amount of Senior Term B Notes Due June 23, 2010
$12,168,000 Aggregate Principal
Amount of Senior Subordinated Notes Due June 23,
2011
$4,867,200 Aggregate Principal
Amount of Junior Subordinated Notes Due June 23,
2011
$8,213,400 Revolving Loan
Facility
THIS AMENDMENT NO.
2 TO THE NOTE AND EQUITY PURCHASE AGREEMENT, dated as of
November 1, 2005 (this “ Amendment ”), is
by and among MGP INSTRUMENTS, INC. (“ Borrower
”), DOSIMETRY ACQUISITIONS (U.S.), INC. (“ Topco
”), as Guarantor, AMERICAN CAPITAL STRATEGIES, LTD. (“
ACAS ”), ACS FUNDING TRUST I (“ AFT,
” and together with ACAS, the “ Purchasers
”), and AMERICAN CAPITAL FINANCIAL SERVICES, INC., a Delaware
corporation (“ ACFS ”), as agent for Purchasers
(in such capacity “ Agent ”). Capitalized terms
used and not defined elsewhere in this Amendment have the meanings
assigned to such terms in the Agreement (as defined
below).
A. The
Borrower, ACAS, and ACFS are parties to a Note and Equity Purchase
Agreement dated as of June 23, 2004 (as amended to date, the
“ Agreement ”), pursuant to which ACAS purchased
from the Borrower certain Senior Term B Notes; certain Senior
Subordinated Notes; and certain Junior Subordinated
Notes.
B. ACAS has
sold or contributed certain of the Notes to AFT.
C. The
parties hereto desire to amend the Agreement as set forth
herein.
D. All
capitalized terms used but not defined herein shall have the
respective meanings ascribed in the Agreement.
NOW, THEREFORE,
the parties hereto, in consideration of the premises and their
mutual covenants and agreements herein set forth and intending to
be legally bound hereby, covenant and agree as follows:
ARTICLE 1
CONSENT AND AMENDMENT
1.1 Consent
. Pursuant to Section 15.2 of the Agreement, each of the
undersigned Agent and Purchasers hereby consent to this Amendment
and agree, subject to the conditions set forth herein, that upon
the execution hereof, the Agreement is hereby amended as follows
and shall be deemed to be amended, effective as of the date set
forth above.
1.2 Amendment
to Section 1.1 . Section 1.1 of the Agreement is
hereby modified and amended by adding the following definitions in
alphabetical order:
“EURIBOR”
shall mean, for each EURIBOR Period, a rate of interest determined
by the Agent equal to the rate of interest that under current
practice is listed as the one month Euro Interbank Offered Rate
that appears on Telerate Page 248 at or about 11:00 a.m.
(Brussels time) two business days before the first day of the
relevant EURIBOR Period.
“EURIBOR
Period” shall mean the calendar month immediately preceding
the month in which the interest payment date occurs;
provided , that if any EURIBOR Period would otherwise extend
beyond the maturity date of the applicable Note for which EURIBOR
is being calculated, the EURIBOR Period shall end on such maturity
date.
1.3 Amendment
to Section 3.l.(a) . Section 3.1(a) of the Agreement
is hereby modified and amended in its entirety as
follows:
(a) The Loan
Parties, jointly and severally, covenant and agree to make payments
to Agent, for the ratable benefit of Purchasers, of accrued
interest on the Senior Term Loan B on the first Business Day of
each calendar month, commencing August 1, 2004 through the
date of repayment in full of the Senior Term Loan B. The Senior
Term Loan B shall bear interest on the outstanding principal
thereof at a rate equal to EURIBOR, as such rate may adjust from
time to time, plus 300 basis points per annum.
1.4 Amendment
to Section 3.1(b) . Section 3.1(b) of the Agreement
is hereby modified and amended in its entirety as
follows:
(b) The Loan
Parties, jointly and severally, covenant and agree to make payments
to Agent, for the ratable benefit of Purchasers, of accrued
interest on the Senior Subordinated Notes on the first Business Day
of each calendar month, commencing August 1, 2004 through the
date of repayment in full of the Senior Subordinated Notes. The
Senior Subordinated Notes will bear interest in two components:
(i) interest will be payable in cash on the outstanding
principal amount thereof (as increased by Senior PIK Interest that
is paid-in-kind as described below) at a rate equal to EURIBOR, as
such rate may adjust from time to time, plus 550 basis points per
annum (“ Senior Cash Interest ”); and
(ii) interest
2
will be payable
in kind on (and thereby increase) the outstanding principal amount
of the Senior Subordinated Notes (as such principal amount is
increased from time to time) at a rate of 5.5% per annum (“
Senior PIK Interest ”)
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