AMENDMENT NUMBER 2 AND
CONSENT
TO
NOTE AND EQUITY PURCHASE AGREEMENT
SECOND
AMENDMENT AND CONSENT, dated as of December 22, 2005 (this
“ Agreement ”), to the Note and Equity Purchase
Agreement, dated as of July 23, 2004, as amended (as the same
may amended, supplemented or modified from time to time in
accordance with its terms, the “ Note Purchase
·Agreement ”), by and among MGP INSTRUMENTS, INC.,
a Delaware corporation (“ Borrower ”), DOSIMETRY
ACQUISITIONS (U.S.), INC., a Delaware corporation (“
Topco ”), as Guarantor, the securities purchasers that
are now and hereafter at any time parties thereto (each a
“Purchaser and collectively, “ Purchasers
”), and AMERICAN CAPITAL FINANCIAL SERVICES, INC., a Delaware
corporation (“ ACFS ”), as agent for Purchasers
(“ Agent ”). All capitalized terms used herein
and not otherwise defined shall have the meanings assigned to such
terms in the Note Purchase Agreement.
WHEREAS,
Topco wishes to enter into the Master Restructuring Agreement and
Plan of Merger (“ Restructuring Agreement ”), by
and among Topco, Global Monitoring Systems, Inc. (“
GMS ”) and the other parties listed therein, in the
manner set forth in the Restructuring Agreement, in the form
attached hereto as Exhibit A , in order to effect a
reorganization of the overall corporate structure of the Loan
Parties; and
WHEREAS,
the Loan Parties have requested that the Purchasers Consent to the
transactions involving Topco under the Restructuring Agreement and
waive breach of any covenants violated thereby; and
WHEREAS,
it is a condition to the Agreement by the Agent that GMS enter into
the Guaranty in the form attached hereto as Exhibit B ,
and that GMS enter into a Pledge and Security. Agreement in the
form attached hereto as Exhibit C .
NOW,
THEREFORE, in consideration of the premises and the agreements,
provisions and covenants herein contained, each Loan Party, each
Purchaser and the Agent agrees as follows:
1.1
The Purchasers hereby consent to the transactions involving Topco
under the Restructuring Agreement and hereby waive breach of any
covenant in the Note Purchase Agreement violated as a result of
such transaction.
2.1
As part of the transactions to occur under the Restructuring
Agreement, Topco will merger with and into Dosimetry Acquisitions
(U.S,), LLC (“ Dosimetry LLC ”), with Dosimetry
LLC continuing as the surviving Person (the “ Merger
”). As a result, references in the Note Purchase Agreement to
Topco that assume or treat it as a corporation and references to
its officers, directors and stockholders shall cease to be correct
after completion of the Merger. Accordingly, the Agent, Purchaser
and the Loan Parties intend that all such references in the Note
Purchase Agreement and the other Purchase Documents shall instead
be deemed to be references to Dosimetry LLC, as the surviving
Person in the Merger and that all descriptions, requirements and
obligations in the Note Purchase Agreement of Topco, its officers,
directors and stockholders, shall be construed so as to give the
Agent and the Purchasers the same rights and benefits under the
Note Purchase Agreement as they currently have with respect to
Topco. The Loan Parties agree that, at any time, promptly upon
request of the Agent, they shall enter into any amendment requested
by the Agent to clarify the applicability, scope and operations of
any provisions of the Note Purchase Agreement or any other Purchase
Document in a manner that comports with the provisions of this
Section 2.1.
3.1
The Note Purchase Agreement is hereby amended as
follows:
(a) Article 7.1(i)
is deleted in its entirety and replaced with the
following:
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