EX-10.93






Exhibit 10.93




Loan Agreement, dated as of July 11, 2007, by and between Meade Instruments Europe GmbH & Co. KG,
Gutenbergstr. 2, 46414 Rhede (“Meade Europe” or “Borrower”) and VR-Bank Westmunsterland eG,
Kupferstrasse 28, 48653 Coesfeld (“Bank”), amending that certain Loan Agreement No. XXX, dated
August 18, 2006, by and between Borrower and Bank.



Revolving Loan Amount



The Borrower will receive from the Bank on Account No. XXX an additional revolving loan of:



(i) € 3,500,000.00 resulting in a total loan amount of €5,500,000.00, of which €2,000,000.00 is
currently available until further notice, and €3,500,000.00 is available from August 1, 2007 to
September 30, 2007; and



(ii) € 7,000,000.00 resulting in a total loan amount of €9,000,000.00, of which € 2,000,000.00 is
currently available until further notice, and €7,000,000.00 is available from October 1, 2007 until
February 29, 2008.



Intended use



The revolving loan is to finance operating costs. The revolving loan may be used as an overdraft
and/or as term money and/or as documentary credit. The Borrower will pay interest on the unused
part of the revolving loan of 0.2%.



Condition of Granting Additional Credit Line



The Borrower must receive and document the repayment of the US$2,000,000 loan made to its US parent
company (Meade Instruments Corp., a Delaware corporation) no later than July 31, 2007.



Overdraft



The revolving loan will be made available on Account No. XXX. Current interest rate terms are 8.00
% p.a. This rate is variable. If money and capital market conditions change, the Bank may alter
this rate per § 315 BGB (German Civil Code). The Borrower will be advised of any interest rate
changes. Interest will be invoiced monthly.



Term Loan



The interest rate for the term loan will be the 3-month EURIBOR rate (Euro Interbank Offered Rate)
plus 2.00 % p.a. The Bank will advise the Borrower of the currently valid rate.
Governing basic rate is the EURIBOR rate two banking days before the interest period begins.
Interest is due and payable at the end of each interest period.



Documentary credit



Invoicing will be individual per order.



Banker’s order



The Borrower herewith authorizes the Bank to debit all the funds due and payable from to Account
No. XXX.



Term



The revolving loan will be available from October 1, 2007 to February 29, 2008. If used as an
overdraft this shall not affect daily maturity.



Security



All security due to the Bank secures all current, future and conditional claims of the Bank arising
out of the business relationship with the Borrower unless otherwise separately agreed. This applies
to all security not listed here that is collateral due to the Bank’s general terms and conditions
of business. All other security terms and conditions per clauses 13 and 14 of the general terms
and conditions remain unaffected.



Revealing financial circumstances



The Borrower will give the Bank all relevant information — at intervals of less than one year if so
requested – and if requested will make all documents available to the Bank that me be necessary for
the Bank to audit the Borrower’s income and assets. For this purpose the Borrower will submit
their properly and duly audited and certified annual accounts to the Bank within six months of the
end of the relevant accounting reference date — in interim form if necessary. The Borrower will
also ensure that the Bank receives the annual account of Meade Instruments Corp., a Delaware
corporation, within six months of the relevant accounting reference date. Legal and/or financial
changes of major importance to the Borrower’s assets or financial circumstances or those of any
other person bearing liability will be provided to the Bank without delay by the Borrower.



Termination for important reasons in law



The Bank may terminate the loan without due notice for important reasons in law. One such reason
is non-adherence to the duty to reveal financial circumstances. In all other respects clause 19
paragraph 3 of the Bank’s general terms and conditions applies.



Miscellaneous



The Bank is entitled to assign the loan claims and the security rendered or to be rendered either
in whole or in part to another bank.



The general terms and conditions of credit per the framework credit agreement, dated August 18,
2006, and the Bank’s general terms and conditions enclosed apply in addition.



	 	 	 
	Borken,

Borken,

	 	MEADE Instruments Europe GmbH & Co. KG

/s/ Helmut Ebbert

VR Bank Westmuensterland eG






/s/ Ralf Rublack