EXHIBIT 10.3
 
AMENDMENT #10 TO CREDIT AND SECURITY AGREEMENT
and AMENDMENT #3 TO FEE LETTERS
 
THIS AMENDMENT #10 TO CREDIT AND SECURITY AGREEMENT AND AMENDMENT #3 TO FEE
LETTERS (this “Amendment”) is entered into by the undersigned parties as of
August 8, 2007 with respect to
 
(1)           the Credit and Security Agreement dated as of August 16, 2002 by
and among Boston Scientific Funding LLC, a Delaware limited liability company
formerly known as Boston Scientific Funding Corporation, a Delaware corporation
(“Borrower”), Boston Scientific Corporation, a Delaware corporation, as initial
Servicer, Variable Funding Capital Company LLC, a Delaware limited liability
company as assignee of Blue Ridge Asset Funding Corporation (“VFCC”), Victory
Receivables Corporation, a Delaware corporation (“Victory”), The Bank of
Tokyo-Mitsubishi UFJ, Ltd., New York Branch (formerly known as The Bank of
Tokyo-Mitsubishi, Ltd., New York Branch), individually as a Liquidity Bank and
as Victory Agent and Wachovia Bank, National Association, individually as a
Liquidity Bank, as VFCC Agent and as Administrative Agent, as amended from time
to time (the “Credit and Security Agreement”); and
 
(2)           each of the Fee Letters described in the Credit and Security
Agreement, as amended (the “Amended Fee Letters”).
 
Unless defined elsewhere herein, capitalized terms used in this Amendment shall
have the meanings assigned to such terms in the Credit and Security Agreement.
 
RECITALS
 
WHEREAS, the Borrower, the initial Servicer, Victory, VFCC, The Bank of
Tokyo-Mitsubishi UFJ, Ltd., New York Branch, individually as a Liquidity Bank
and as Victory Agent and Wachovia Bank, National Association, individually, as a
Liquidity Bank, as VFCC Agent and as Administrative Agent entered into the
Credit and Security Agreement;
 
WHEREAS, the Borrower has requested that the Agents amend the Credit and
Security Agreement as hereinafter set forth; and
 
WHEREAS, as a condition to agreeing to the requested amendment to the Credit and
Security Agreement, the Agents have requested the amendment to the Amended Fee
Letters hereinafter set forth.
 
NOW THEREFORE, in consideration of the mutual execution hereof and other good
and valuable consideration, the parties hereto agree as follows:
 
1

--------------------------------------------------------------------------------

1.             Amendments.
 
(a)           The following definition in the Credit and Security Agreement is
hereby amended and restated in its entirety to read as follows:
 
 “Scheduled Termination Date” means, as to each Liquidity Bank, the earlier to
occur of August 6, 2008 and the date on which its Liquidity Commitment
terminates in accordance with the Liquidity Agreement to which it is a party, in
either of the foregoing cases, unless extended by agreement of such Liquidity
Bank in accordance with Section 1.8.
 
(b)           The “Program Fee” (under and as defined in each of the Amended Fee
Letters) is hereby increased by 2.5 basis points per annum.
 
2.             Conditions Precedent to Effectiveness.  The effectiveness of this
Amendment is subject to the conditions precedent that:
 
(a)           The Agents shall have received counterparts hereof duly executed
by each of the parties hereto,
 
(b)           Victory shall have received counterparts of an amendment to the
Victory Liquidity Agreement extending the term thereof through August 6, 2008,
and
 
(c)           VFCC shall have received counterparts of an amendment to the VFCC
Liquidity Agreement extending the term thereof through August 6, 2008.
 
The signatures of Victory and VFCC on counterparts of this Amendment shall
constitute confirmation that conditions (b) and (c), respectively, have been
satisfied.
 
3.             Scope of Amendment.  Except as expressly amended hereby, each of
the Credit and Security Agreement and the Amended Fee Letters remains in full
force and effect in accordance with its terms and this Amendment shall not by
implication or otherwise alter, modify, amend or in any way affect any of the
other terms, conditions, obligations, covenants or agreements contained in the
Credit and Security Agreement or Amended Fee Letters, all of which are ratified
and affirmed in all respects and shall continue in full force and effect.
 
4.             Governing Law. This Amendment shall be governed by and construed
in accordance with the laws of the State of New York.
 
5.             Counterparts.  This Amendment may be executed in any number of
counterparts and each of such counterparts shall for all purposes be deemed an
original, and all such counterparts shall together constitute but one and the
same instrument.
 
 
 
 
<Signature pages follow>
2

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
and delivered by their duly authorized officers as of the date hereof.

 

 
BOSTON SCIENTIFIC FUNDING LLC
 

 
By:       ________________________________
Name:  Milan Kofol
Title:  Vice President and Treasurer

 

BOSTON SCIENTIFIC CORPORATION, as Servicer
 

 
By:       ________________________________
Name:  Milan Kofol
Title:  Vice President, Treasurer 

 
 
 
 
 
 
 
 
 
 
 
 

 
3

--------------------------------------------------------------------------------

 
 

 
VARIABLE FUNDING CAPITAL COMPANY LLC
 
 
BY:  WACHOVIA CAPITAL MARKETS, LLC, ITS ATTORNEY-IN-FACT

By:     ________________________________
Name:
Title:

 

WACHOVIA BANK, NATIONAL ASSOCIATION,
individually as a Liquidity Bank, as VFCC Agent and as Administrative Agent
 

By:     ________________________________
Name:
Title: 

 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
4

--------------------------------------------------------------------------------

 
 

 
VICTORY RECEIVABLES CORPORATION

 
By:      ________________________________
Name:
Title:

 

 
THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, as a Liquidity Bank
 

 
By:      ________________________________
Name:
Title:
 

 
 
THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, as Victory Agent
 

 
By:     ________________________________
Name:
Title: 

 

 

 
 
 
 
 
 
 
 
 
 
5

--------------------------------------------------------------------------------