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Exhibit 4.38
 EIGHTEENTH AMENDMENT
to
SECOND AMENDED AND RESTATED CREDIT AGREEMENT
 Amendment Industries Dynamics Victor C & G Stoody Thermal Arc ProTip International Borrowers Agent Annex A
 RECITALS
 Credit Agreement
    Amendment to Annex A
 EBITDA




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1 4 1 4 and (xiv) any non-cash loss resulting from a revaluation of any interest rate swap
(provided, however, that if the Second Lien Credit Agreement is not amended by June 30, 2007 to add
a corresponding add-back to EBITDA as defined therein, EBITDA shall be calculated without giving
effect to this clause (xiv) for purposes of calculating the Financial Covenants for all periods
ending September 30, 2007 and thereafter),
 2




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Fixed Charge Coverage Ratio
 Amendment to Annex G
 Representations and Warranties of Credit Parties
   Conditions To Effectiveness
   3




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Section 11.3(a)
 Reference To And Effect Upon The Credit Agreement
   Governing Law
 Headings
 Counterparts
 Reaffirmation of Guaranties
 4




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LENDER:GENERAL ELECTRIC CAPITAL CORPORATION,as Agent and LenderBy:
    
    /s/ [ILLEGIBLE]Duly Authorized SignatoryCREDIT PARTIES:THERMADYNE INDUSTRIES, INC.By:
    
    /s/ Patricia S. WilliamsName:
    
    PATRICIA S. WILLIAMSTitle:
    
    V. P. SECTY & G. C.THERMAL DYNAMICS CORPORATIONBy:
    
    /s/ Patricia S. WilliamsName:
    
    PATRICIA S. WILLIAMSTitle:
    
    V. P. SECTY & G. C.TWECO PRODUCTS, INC.By:
    
    /s/ Patricia S. WilliamsName:
    
    PATRICIA S. WILLIAMSTitle:
    
    V. P. SECTY & G. C.VICTOR EQUIPMENT COMPANYBy:
    
    /s/ Patricia S. WilliamsName:
    
    PATRICIA S. WILLIAMSTitle:
    
    V. P. SECTY & G. C.
 S-1




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C & G SYSTEMS, INC.By:
    
    /s/ Patricia S. WilliamsName:
    
    PATRICIA S. WILLIAMSTitle:
    
    V. P. SECTY & G. C.STOODY COMPANYBy:
    
    /s/ Patricia S. WilliamsName:
    
    PATRICIA S. WILLIAMSTitle:
    
    V. P. SECTY & G. C.THERMAL ARC, INC.By:
    
    /s/ Patricia S. WilliamsName:
    
    PATRICIA S. WILLIAMSTitle:
    
    V. P. SECTY & G. C.THERMADYNE INTERNATIONAL CORP.By:
    
    /s/ Patricia S. WilliamsName:
    
    PATRICIA S. WILLIAMSTitle:
    
    V. P. SECTY & G. C.PROTIP CORPORATIONBy:
    
    /s/ Patricia S. WilliamsName:
    
    PATRICIA S. WILLIAMSTitle:
    
    V. P. SECTY & G. C.




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THERMADYNE HOLDINGS CORPORATIONBy:
    
    /s/ Patricia S. WilliamsName:
    
    PATRICIA S. WILLIAMSTitle:
    
    V. P. SECTY & G. C.MECO HOLDING COMPANYBy:
    
    /s/ Patricia S. WilliamsName:
    
    PATRICIA S. WILLIAMSTitle:
    
    V. P. SECTY & G. C.C&G SYSTEMS HOLDING, INC.By:
    
    /s/ Patricia S. WilliamsName:
    
    PATRICIA S. WILLIAMSTitle:
    
    V. P. SECTY & G. C.THERMADYNE AUSTRALIA PTY LTD.By:
    
    /s/ Patricia S. WilliamsName:
    
    PATRICIA S. WILLIAMSTitle:
    
    V. P. SECTY & G. C.DUXTECH PTY LTD.By:
    
    /s/ Patricia S. WilliamsName:
    
    PATRICIA S. WILLIAMSTitle:
    
    V. P. SECTY & G. C.CIGWELD PTY LTD.By:
    
    /s/ Patricia S. WilliamsName:
    
    PATRICIA S. WILLIAMSTitle:
    
    V. P. SECTY & G. C.




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QUETALA PTY. LTD.By:
    
    /s/ Patricia S. WilliamsName:
    
    PATRICIA S. WILLIAMSTitle:
    
    V. P. SECTY & G. C.QUETACK PTY. LTD.By:
    
    /s/ Patricia S. WilliamsName:
    
    PATRICIA S. WILLIAMSTitle:
    
    V. P. SECTY & G. C.THERMADYNE WELDING PRODUCTS CANADA LIMITEDBy:
    
    /s/ Patricia S. WilliamsName:
    
    PATRICIA S. WILLIAMSTitle:
    
    V. P. SECTY & G. C.THERMADYNE INDUSTRIES LIMITEDBy:
    
    /s/ Patricia S. WilliamsName:
    
    PATRICIA S. WILLIAMSTitle:
    
    V. P. SECTY & G. C.