Exhibit 10.1
PRIVILEGED AND CONFIDENTIAL
FOR SETTLEMENT PURPOSES ONLY
SUBJECT TO FEDERAL RULES OF EVIDENCE §408
AND OTHER APPLICABLE CONFIDENTIALITY RULES
EXECUTION COPY
Dated as of September 8, 2009
TLC Vision (USA) Corporation
16305 Swingley Ridge Road, Suite 300
Chesterfield, MO 63017
Attention: Michael Gries
Re: Amendment to Limited Waiver and Amendment No. 4 to Credit Agreement and
Amendment No. 5 to Credit Agreement
Ladies and Gentlemen:
     We refer to the Limited Waiver and Amendment No. 4 to Credit Agreement,
dated as of June 30, 2009, among TLC Vision (USA) Corporation (the “Borrower”).
TLC Vision Corporation (“Parent”), as Guarantor, the Additional Guarantors, and
the Required Lenders party thereto (as amended, “Amendment No. 4”). Capitalized
terms used but not defined in this Amendment to Limited Waiver and Amendment
No. 4 to Credit Agreement and Amendment No. 5 to Credit Agreement (this
“Amendment to Limited Waiver”) have the same meanings herein as in Amendment
No. 4.
     The Loan Parties have requested that the Required Lenders grant an
extension with respect to the Waiver Period (as defined in Amendment No. 4) and
to amend the Credit Agreement. Accordingly, the Loan Parties hereby agree with
the undersigned Required Lenders as follows:
     SECTION 1. Amendment of Limited Waiver. Section l(d)(iv) of Amendment No. 4
is hereby amended by amending and restating in its entirety the definition of
“Waiver Period” as follows:
     “Waiver Period” means the period commencing on Amendment No. 4 Effective
Date and ending on the earlier to occur of (A) September 30, 2009 or such later
date as may be agreed by the Required Lenders in their sole discretion and
(B) the occurrence of any Default or Event of Default (other than a Specified
Default or a Payment Default).
     SECTION 2. Amendments to Credit Agreement. The Credit Agreement is hereby
amended as set forth below.

 

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     (a) Definitions. Section 1.01 of the Credit Agreement is amended by
inserting the following new defined term in the appropriate alphabetical
sequence in such Section:
“Amendment No. 5 to Credit Agreement” shall mean Amendment to Limited Waiver and
Amendment No. 4 to Credit Agreement and Amendment No. 5 to Credit Agreement,
dated as of September 9, 2009, among the Loan Parties and the Lender party
thereto.
     (b) Negative Covenants. Section 5.02(e)(iii) of the Credit Agreement is
amended and restated it its entirety as follows:
“(iii) equipment sales reflected on Schedule 5.02(e)(iii) hereof and consummated
by no later than the end of the Waiver Period (as defined in Amendment No. 5 to
Credit Agreement).”
     SECTION 3. Acknowledgments and Agreements of the Loan Parties. Each of the
Loan Parties hereby irrevocably and unconditionally agrees, acknowledges and
affirms to the Agents, the Issuing Bank and the Lenders that except for the
amendment to Amendment No. 4 set forth in Section 1 hereof, this Amendment to
Limited Waiver shall not, by implication or otherwise, limit, impair, constitute
a waiver of or otherwise affect any rights or remedies of the Agents, the
Issuing Bank or the Lenders under any of the Loan Documents, nor alter, modify,
amend or in any way affect any of the rights, remedies, obligations or any
covenants of the Loan Parties contained in any of the other Loan Documents, all
of which are ratified and confirmed in all respects and shall continue in full
force and effect.
     SECTION 4. Representations and Warranties. Each of the Loan Parties hereby
represents and warrants to the Agents, the Issuing Bank and the Lenders that:
     (a) Due Execution and Authorization; Legal, Valid and Binding Obligation.
This Amendment to Limited Waiver has been duly executed and delivered by each
Loan Party. The execution and delivery by each Loan Party of this Amendment to
Limited Waiver is within such Loan Party’s powers and has been duly authorized
by all necessary action on its part. This Amendment to Limited Waiver
constitutes the legal, valid and binding obligations of each Loan Party,
enforceable against such Loan Party in accordance with its terms, subject to
applicable bankruptcy, insolvency, reorganization, moratorium or other laws
affecting creditors’ rights generally and subject to general principles of
equity, regardless of whether considered in a proceeding in equity or at law.
     (b) No Conflicts. The execution, delivery and performance by each Loan
Party of this Amendment to Limited Waiver, are within such Loan Party’s
corporate, limited liability company, limited liability partnership or limited
partnership (as applicable) powers, have been duly authorized by all necessary
corporate, limited liability company, limited liability partnership or limited
partnership (as applicable) action, and do not (i) contravene such Loan Party’s
charter, bylaws, limited liability company agreement, partnership agreement or
other constituent documents, (ii) violate any law, rule regulation, order, writ,
judgment, injunction, decree, determination or

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award, (iii) conflict with or result in the breach of, or constitute a default
or require any payment to be made under, any contract, loan agreement,
indenture, mortgage, deed of trust, lease or other instrument binding on or
affecting any Loan Party, any of its Subsidiaries or any of their properties or
(iv) except for the Liens created under the Loan Documents, result in or require
the creation or imposition of any Lien upon or with respect to any of the
properties of any Loan Party or any of its Subsidiaries.
     (c) Representations. After giving effect to this Amendment to Limited
Waiver each of the representations and warranties made by any Loan Party
contained in the Loan Documents is true and correct in all material respects as
of the date hereof, except to the extent such representations and warranties
expressly relate to an earlier date.
     (d) Ratification of Obligations.
     (i) There are no understandings or agreements relating to the Obligations
other than the Loan Documents.
     (ii) Neither the Lenders, any Agent, nor the Issuing Bank are in default
under any of the Loan Documents or otherwise have breached any obligations to
the Loan Parties.
     (iii) There are no offsets, counterclaims or defenses to the Obligations or
to the rights, remedies or powers of the Administrative Agent, the Collateral
Agent, the Issuing Bank, or any Lender in respect of any of the Obligations or
any of the Loan Documents, and the Loan Parties agree not to interpose (and each
does hereby waive and release) any such defense, set-off or counterclaim in any
action brought by the Administrative Agent, the Collateral Agent, the Issuing
Bank or any of the Lenders with respect thereto.
     (e) No Defaults. No Default or Event of Default exists on the date hereof,
other than the Specified Defaults or Payment Defaults.
     (f) Material Information.
     (i) None of the factual information and data (taken as a whole) at any time
furnished by any Loan Party, any of its Subsidiaries or any of their respective
counsel, financial advisers or authorized representatives to any Agent, any
Lender, or any of their respective counsel or financial advisors in connection
with the Loan Documents and the proposed restructuring of the obligations
thereunder, contains any untrue statement of a material fact or omits to state
any material fact necessary to make such information and data (taken as a whole)
not materially misleading, in each case, at the time such information was
provided in light of the circumstances under which such information or data was
furnished.
     (ii) The projections and other pro forma financial information provided to
any Agent, any Lender or any of their respective counsel or financial advisers
were prepared in good faith based upon assumptions believed by the Loan Parties
to be reasonable at the time made, it being recognized by the Agents and the

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Lenders that such projections as to future events are not to be viewed as facts
and that actual results during the period or periods covered by any such
projections may differ from the projected results and such differences may be
material.
     SECTION 5. Conditions to Effectiveness. This Amendment to Limited Waiver
shall become effective if, and only if, on or before September 11, 2009, each of
the following conditions precedent shall have been satisfied:
     (a) Execution and Delivery of Documents. The Administrative Agent and
counsel to the Required Lenders shall have received (i) duly executed
counterparts of this Amendment to Limited Waiver which, when taken together,
bear the authorized signatures of each of the Borrower, the Parent and the
Required Lenders, required for this Amendment to Limited Waiver to become
effective and (ii) duly executed counterparts of the Consent, in the form of
Annex A hereto, which when taken together, bear the authorized signatures of
each of the Loan Parties.
     (b) Proof of Corporate Action. The Administrative Agent and counsel to the
Required Lenders shall have received from each of the Loan Parties copies,
certified by a duly authorized officer of such Person to be true and complete on
and as of the date hereof, of the records of all corporate action taken by such
Person to authorize (A) such Person’s execution and delivery of this Amendment
to Limited Waiver, and (B) such Person’s performance of all of its agreements
and obligations under this Amendment to Limited Waiver. Such certified copies
shall be in form and substance reasonably satisfactory to the Required Lenders.
     (c) Closing Certificate. The Administrative Agent and counsel to the
Required Lenders shall have received a certificate, dated as of the date hereof,
signed by the Chief Financial Officer of the Borrower, to the effect that
(i) each of the representations and warranties of the Loan Parties contained in
Section 4 hereof are true and correct as of the date hereof, and (ii) all
conditions to the effectiveness of this Amendment to Limited Waiver set forth in
this Section 5 have been satisfied in all respects.
     (d) Incumbency Certificate. The Administrative Agent and counsel to the
Required Lenders shall have received incumbency certificates, dated as of the
date hereof, signed respectively by a duly authorized officer of each of the
Loan Parties, and giving the name and bearing a specimen signature of each
individual who shall be authorized (x) to sign, in the name and on behalf of
such Person this Amendment to Limited Waiver, and (y) to give notices and to
take other action on behalf of such Person under this Amendment to Limited
Waiver and the Loan Documents. Such certified copies or certificate shall be in
form and substance reasonably satisfactory to the Required Lenders.
     (e) Fees, Costs and Expenses. The Borrower shall have paid all invoiced
unpaid fees and out-of-pocket expenses and disbursements of (i) Bingham
McCutchen LLP, counsel to certain of the Lenders, pursuant to the fee agreement
dated as of February 10, 2009, (ii) Gordian Group LLC, the financial advisor
engaged by

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Bingham McCutchen LLP for the benefit of the lenders represented by it, pursuant
to the engagement letter, dated as of February 20, 2009, and (iii) Stikeman
Elliott LLP, Canadian counsel to certain of the Lenders.
     SECTION 6. Post-Closing Covenants.
     (a) Agreements. The Loan Parties shall not (i) make or permit any of their
Subsidiaries (or Affiliates that they control) to make, any material amendment
to any agreement to which it is a party, (ii) settle or permit any of their
Subsidiaries to settle, or make payment of or permit any of their Subsidiaries
(or Affiliates that they control) to make payment of, any material claim, under
or in connection with any agreement to which it is a party, or (iii) enter into
any material agreement with any Person, unless in the case of (i) and (ii) the
Loan Parties reasonably determine that such amendment or settlement results in
cash savings or improved liquidity for the Loan Parties after written notice to
and consultation with the Required Lenders.
     (b) Terms of Financing and Restructuring. The Loan Parties shall negotiate
in good faith and use their best efforts to agree by September 28, 2009 to (i) a
term sheet reflecting terms of additional debt financing acceptable to the
Required Lenders, and (ii) a term sheet reflecting terms of an overall debt
and/or equity restructuring acceptable to the Lenders under applicable law.
     (c) TLC Management Services Inc. The Loan Parties shall cause TLC
Management Services Inc. to merge into the Borrower by September 21, 2009.
     (d) Sale of Assets. The Loan Parties shall not sell, lease, transfer or
otherwise dispose of, or permit any of their Subsidiaries to sell, lease,
transfer of otherwise dispose of, any assets, or grant any option or other right
to purchase, lease or otherwise acquire, or permit any of their Subsidiaries to
grant any option or other right to purchase, lease or otherwise acquire, any
assets except as expressly permitted by Section 5.02(e)(iii) of the Credit
Agreement.
     (e) Consents, Waivers. The Loan Parties shall, and shall cause their
Subsidiaries to, use their best efforts to obtain all necessary consents and/or
waivers of any Person that has any rights under any agreement with any Loan
Party or any of its Subsidiaries arising from any bankruptcy, insolvency,
reorganization or any similar proceeding with respect to the Parent and/or
Borrower, or any change of control provision therein that could have an adverse
effect on the Parent or any of its Subsidiaries or Affiliates.
     (f) Delivery of Information. The Loan Parties shall (i) promptly deliver
any additional information reasonable requested by any Lender or its counsel or
financial advisors and (ii) deliver to the Administrative Agent and counsel to
the Required Lenders by September 21, 2009 draft schedules setting out all of
the liabilities and assets of each of the Parent and Borrower respectively.
     SECTION 7. Release. In consideration of the foregoing, each of the Loan
Parties and its successors and assigns (collectively, the “Releasors”), as
applicable, release and forever

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discharge the Agents, the Issuing Bank, and each Lender that executes this
Amendment to Limited Waiver and their respective affiliates, officers,
directors, employees, agents, attorneys, predecessors, successors and assigns,
both present and former (collectively, together with the Agents, the Issuing
Bank and each Lender, the “Bank Affiliates”), of and from any and all manner of
action and actions, causes of action, suits, debts, controversies, damages,
judgments, executions, claims and demands whatsoever, asserted or unasserted, in
law or in equity, relating to or arising out of any Loan Document, against any
of the Bank Affiliates which any Releasor ever had or now has on the date
hereof, upon or by reason of any manner, cause, causes or thing whatsoever,
whether presently existing, suspected, known, unknown, contemplated or
anticipated.
     SECTION 8. GOVERNING LAW. THIS AMENDMENT TO LIMITED WAIVER SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK.
     SECTION 9. Miscellaneous. The failure of any Loan Party to timely perform
any of its obligations under Section 6 hereof shall constitute an immediate and
automatic Event of Default. This Amendment to Limited Waiver constitutes the
entire agreement of the parties with respect to the subject matter hereof and
supersedes any prior understandings or agreements which may have existed with
respect thereto. Except as expressly provided herein, this Amendment to Limited
Waiver shall not, by implication or otherwise, limit, impair, constitute a
waiver of or otherwise affect any rights or remedies of the Agents or the Lender
Parties under the Credit Agreement or the other Loan Documents, nor alter,
modify, amend or in any way affect any of the obligations or covenants contained
in the Credit Agreement or any of the other Loan Documents, all of which are
ratified and confirmed in all respects and shall continue in full force and
effect. To the extent there is any inconsistency between the terms and
provisions of any Loan Document and the terms and provisions of this Amendment
to Limited Waiver, the terms and provisions of this Amendment to Limited Waiver
shall govern. The headings used in this Amendment to Limited Waiver are for
convenience of reference only and shall not in any way be deemed to limit,
define or describe the scope and intent of this Amendment to Limited Waiver or
any provision hereof. This Amendment to Limited Waiver shall be binding upon and
inure to the benefit of each of the Lenders, the Agents and the Issuing Bank and
each of the Loan Parties, and to each of their respective successors and
assigns. This Amendment to Limited Waiver may not be modified or amended except
by a written instrument executed by the party to be charged. Execution and
delivery of this Amendment to Limited Waiver by facsimile transmission or other
electronic means shall constitute execution and delivery of this Amendment to
Limited Waiver for all purposes, with the same force and effect as execution and
delivery of an original manually signed copy hereof. This Amendment to Limited
Waiver may be executed in any number of counterparts by different parties hereto
in separate counterparts, each of which when so executed shall be deemed to be
an original and all of which taken together shall constitute one and same
agreement.
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     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
Limited Waiver to be duly executed by their duly authorized officers, all as of
the date first above written.

            Very truly yours,

TLC VISION (USA) CORPORATION, as
Borrower
      By:   /s/ William J. McManus         Name:   William J. McManus       
Title:   CFO, Interim        TLC VISION CORPORATION, as Parent and
Guarantor
      By:   /s/ William J. McManus         Name:   William J. McManus       
Title:   CFO, Interim     

[Signature Page to Amendment to Limited Waiver]

 

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Annex A
CONSENT
Dated as of September 8, 2009
     We, the undersigned, as Guarantors under the Guaranty and Grantors under
the Security Agreements and the Intellectual Property Security Agreement (each
as defined in the Credit Agreement) in favor of the Agents and, for their
benefit and the benefit of the Lenders party to the Credit Agreement referred to
in the foregoing Amendment to Limited Waiver and Amendment No. 4 to Credit
Agreement and Amendment No. 5 to Credit Agreement (“Amendment to Limited
Waiver”), hereby consent to such Amendment to Limited Waiver and hereby confirm
and agree that notwithstanding the effectiveness of such Amendment to Limited
Waiver, each of the Guaranty, the Security Agreements and the Intellectual
Property Security Agreement is, and shall continue to be, in full force and
effect and is hereby ratified and confirmed in all respects. Capitalized terms
used but not defined in this Consent have the same meanings herein as in the
Credit Agreement

            GUARANTORS

TLC VISION CORPORATION
      By:   /s/ William J. McManus         Name:   William J. McManus       
Title:   CFO, Interim     

[Signature Page to Amendment to Limited Waiver]

 

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AMERICAN EYE INSTRUMENTS, INC.
DELAWARE VALLEY VISION ASSOCIATES GROUP PRACTICE, LLC
LASER EYE SURGERY, INC.
LASER VISION CENTERS, INC.
LVCI CALIFORNIA, LLC
     By: Laser Vision Centers, Inc., its Member
SIGHTPATH MEDICAL INC.
OR PARTNERS, INC.
O.R. PROVIDERS, INC.
SOUTHEAST MEDICAL, INC.
SOUTHERN OPHTHALMICS, INC.
TLC CAPITAL CORPORATION
TLC FLORIDA EYE LASER CENTER, LLC
     By: TLC THE LASER CENTER (INSTITUTE) INC., ITS MEMBER
TLC LASER EYE CENTERS (ATAC), LLC
TLC LASER EYE CENTERS (REFRACTIVE I) INC.
TLC MANAGEMENT SERVICES, INC.
TLC MIDWEST EYE LASER CENTER, INC.
TLC THE LASER CENTER (ANNAPOLIS) INC.
TLC THE LASER CENTER (BALTIMORE MANAGEMENT) LLC
TLC THE LASER CENTER (BALTIMORE) INC.
TLC THE LASER CENTER (BOCA RATON) LIMITED PARTNERSHIP
     By: (NORTHEAST) INC., ITS GENERAL PARTNER
TLC THE LASER CENTER (CAROLINA) INC.
TLC THE LASER CENTER (CONNECTICUT) L.L.C.
     By: TLC THE LASER CENTER (NORTHEAST) INC., ITS SOLE MEMBER
TLC THE LASER CENTER (INSTITUTE) INC.
TLC THE LASER CENTER (NORTHEAST) INC.
TLC VC, LLC
TLC VISION SOURCE, INC.
TLC WHITTEN LASER EYE ASSOCIATES, LLC
     By: TLC THE LASER CENTER (NORTHEAST) INC., ITS MEMBER
TRUVISION, INC.
TRUVISION CONTACTS, INC.
TRUVISION PROVIDER ONLINE SERVICES, INC.
VALLEY LASER EYE CENTER, LLC
By: LASER VISION CENTERS, INC., ITS SOLE MEMBER

                By:   /s/ William J. McManus         Name:   William J. McManus 
      Title:   CFO, Interim       

[Signature Page to Amendment to Limited Waiver]

 

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          TLC THE LASER CENTER (MONCTON) INC.
RHEO CLINIC INC.
VISION CORPORATION
      By:   /s/ William J. McManus         Name:   William J. McManus       
Title:   CFO, Interim       

[Signature Page to Amendment to Limited Waiver]

 

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Agreed to and Accepted By:
Brentwood CLO Ltd.
By: Highland Capital Management, L.P.
As Collateral Manager
By: Strand Advisors, Inc., its General Partner

                By:   /s/ Jason Post         Name:   JASON POST        Title:  
OPERATIONS DIRECTOR       

[Signature Page to Amendment to Limited Waiver]

 

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Agreed to and Accepted By:
Loan Funding IV LLC
By: Highland Capital Management, L.P., As Collateral Manager
By: Strand Advisors, Inc., Its General Partner

                By:   /s/ Jason Post         Name:   JASON POST        Title:  
OPERATIONS DIRECTOR       

[Signature Page to Amendment to Limited Waiver]

 

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Agreed to and Accepted By:
Greenbriar CLO, Ltd.
By: Highland Capital Management, L.P., as Collateral Manager
By: Strand Advisors, Inc.
Its General Partner

                By:   /s/ Jason Post         Name:   JASON POST        Title:  
OPERATIONS DIRECTOR       

[Signature Page to Amendment to Limited Waiver]

 

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Agreed to and Accepted By:
Loan Star State Trust
By: Highland Capital Management, L.P., As Collateral Manager
By: Strand Advisors, Inc., Its Investment Advisor

                By:   /s/ Jason Post         Name:   JASON POST        Title:  
OPERATIONS DIRECTOR       

[Signature Page to Amendment to Limited Waiver]

 

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Agreed to and Accepted By:

          Longhorn Credit Funding, LLC
By: Highland Capital Management, L.P., As Collateral Manager
By: Strand Advisors, Inc.
Its General Partner
    By:   /s/ Jason Post       Name:   JASON POST      Title:   OPERATIONS
DIRECTOR     

[Signature Page to Amendment to Limited Waiver]

 

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Agreed to and Accepted By:

          Red River CLO Ltd.
By: Highland Capital Management, L.P.
As Collateral Manager
By: Strand Advisors, Inc., Its General Partner
    By:   /s/ Jason Post       Name:   JASON POST      Title:   OPERATIONS
DIRECTOR     

[Signature Page to Amendment to Limited Waiver]

 

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Agreed to and Accepted By:

          Rockwall CDO II Ltd.
By: Highland Capital Management, L.P.
As Collateral Manager
By: Strand Advisors, Inc.
Its General Partner
    By:   /s/ Jason Post       Name:   JASON POST      Title:   OPERATIONS
DIRECTOR     

[Signature Page to Amendment to Limited Waiver]

 

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Agreed to and Accepted By:

          Southfork CLO, Ltd.
By: Highland Capital Management, L.P., as Collateral Manager
By: Strand Advisors, Inc., Its General Partner
    By:   /s/ Jason Post       Name:   JASON POST      Title:   OPERATIONS
DIRECTOR     

[Signature Page to Amendment to Limited Waiver]

 

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Agreed to and Accepted By:

          Loan Funding VII LLC
By: Highland Capital Management, L.P., as Collateral Manager
By: Strand Advisors, Inc., Its General Partner
    By:   /s/ Jason Post       Name:   JASON POST      Title:   OPERATIONS
DIRECTOR     

[Signature Page to Amendment to Limited Waiver]

 

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Agreed to and Accepted By:

          GALE FORCE 1 CLO. LTD.
By: GSO/Blackstone Debt Funds Management LLC
as Collateral Manager
    By:   /s/ Dean T. Criares       Name:   Dean T. Criares      Title:  
Authorized Signatory     

[Signature Page to Amendment to Limited Waiver]

 

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Agreed to and Accepted By:

          FM LEVERAGED CAPITAL FUND II

By: GSO/Blackstone Debt Funds Management LLC
as Subadviser to FriedbergMilstein LLC
    By:   /s/ Dean T. Criares       Name:   Dean T. Criares       Title:  
Authorized Signatory     

[Signature Page to Amendment to Limited Waiver]

 

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Agreed to and Accepted By:

          MONUMENT PARK CDO LTD.
By: Blackstone Debt Advisors L.P.
as Collateral Manager
    By:   /s/ Dean T. Criares       Name:   Dean T. Criares      Title:  
Authorized Signatory     

[Signature Page to Amendment to Limited Waiver]

 

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          Agreed to and Accepted By:

GALE FORCE 3 CLO. LTD.
By: GSO/Blackstone Debt Funds Management LLC
as Collateral Manager
      By:   /s/ Dean T. Criares         Name:   Dean T. Criares        Title:  
Authorized Signatory       

[Signature Page to Amendment to Limited Waiver]

 

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          Agreed to and Accepted By:

CIFC Funding 2007-48, LTD.
      By:   /s/ Michio Brunner         Name:   Michio Brunner        Title:  
Authorized Signatory       

[Signature Page to Amendment to Limited Waiver]

 

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          Agreed to and Accepted By:

CIFC Funding 2007 — IV, Ltd.
      By:   /s/ Steve Vaccaro         Name:   STEVE VACCARO        Title:  
CO-CHIEF INVESTMENT OFFICER       

[Signature Page to Amendment to Limited Waiver]

 

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          Agreed to and Accepted By:

Denali Capital LLC, managing member of
DC Funding Partners LLC, Collateral Manager for
Spring Road CLO 2007-1, LTD., or an affiliate
      By:   /s/ John P. Thacker         Name:   JOHN P. THACKER        Title:  
CHIEF CREDIT OFFICER       

[Signature Page to Amendment to Limited Waiver]

 

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          Agreed to and Accepted By:

Pangaea CLO 2007-1 LTD.
     By Pangaea Asset Management, LLC,
     its Collateral Manager
      By:   /s/ Mark S. Maglaya         Name:   Mark S. Maglaya        Title:  
Assistant Secretary       

[Signature Page to Amendment and Limited Waiver]

 

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          Agreed to and Accepted By:

Sargas CLO I LTD.
     By Sargas Asset Management, LLC,
     its Portfolio Manager
      By:   /s/ Mark S. Maglaya         Name:   Mark S. Maglaya        Title:  
Assistant Secretary       

[Signature Page to Amendment and Limited Waiver]

 

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          Agreed to and Accepted By:

Garrison Funding 2008-1 Ltd.
      By:   /s/ Brian Chase         Name:   BRIAN CHASE         Title:   CFO   
   

[Signature Page to Amendment to Limited Waiver]

 

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          Agreed to and Accepted By:

ACA CLO 2007-1, LTD
By: Its investment advisor
Apidos Capital Management, LLC
      By:   /s/ Vincent Ingato         Name:   Vincent Ingato        Title:  
Managing Director       

[Signature Page to Amendment to Limited Waiver]

 

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          Agreed to and Accepted By:

National City Bank now a part of PNC
      By:   /s/ Christopher B. Gribble         Name:   Christopher B. Gribble   
    Title:   Vice President       

[Signature Page to Amendment to Limited Waiver]