EXHIBIT 4.1
 FIRST AMENDMENT TO
THIRD AMENDED AND RESTATED CREDIT AGREEMENT
 Amendment Industries Dynamics Victor C & G Stoody International Borrowers Agent Annex A
 RECITALS
 Credit Agreement
    Amendments to Credit Agreement.
 Section 1.16
 provided




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Section 1.16
  Section 1.17
  Section 2.2
 Further Conditions to Each Loan and to the Release of Funds from the
Australian Blocked Account.
 Section 2.2
 Exhibit 2.2
 Section 6.2
 2




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Section 8.1
 controller
 Section 11.18
  3




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Annex A
 Australian Acknowledgement and Undertaking
 Australian Blocked Account
 Australian Blocked Account Agreement
 Australian Deed of Guarantee
 Australian Fixed and Floating Charge
 Australian Mortgage of Shares
 Australian Security Documents
 Borrowing
Base
   4




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Code provided
 5




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Collateral Documents
 Collateral Parties
 Eligible
In-Transit Inventory
 GAAP
 Priority
Payables Reserve
 6




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Annex C
  Exhibit 2.2 Exhibit 2.2
 Representations and Warranties of Credit Parties.
  7




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Conditions To Effectiveness.
  Section 11.3(a)
 Reference To And Effect Upon The Credit Agreement.
   Governing Law.
 Headings.
 Counterparts.
 Reaffirmation of Guaranties.
  8




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LENDER:GENERAL ELECTRIC CAPITAL
CORPORATION,
as Agent and LenderBy:

/s/
[ILLEGIBLE]Duly Authorized Signatory




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CREDIT PARTIES:THERMADYNE INDUSTRIES, INC.By:
    /s/ Steven A. SchummName:
    Steven A. SchummTitle:
    EVP - CFO -  CAO THERMAL DYNAMICS CORPORATIONBy:
    /s/ Steven A. SchummName:
    Steven A. SchummTitle:
    EVP - CFO -  CAOVICTOR EQUIPMENT COMPANYBy:
    /s/ Steven A. SchummName:
    Steven A. SchummTitle:
    EVP - CFO -  CAOC & G SYSTEMS, INC.By:
    /s/ Steven A. SchummName:
    Steven A. SchummTitle:
    EVP - CFO -  CAOSTOODY COMPANYBy:
    /s/ Steven A. SchummName:
    Steven A. SchummTitle:
    EVP - CFO -  CAO




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THERMADYNE INTERNATIONAL CORP.By:
    /s/ Steven A. SchummName:
    Steven A. SchummTitle:
    EVP - CFO -  CAOTHERMADYNE HOLDINGS CORPORATIONBy:
    /s/ Steven A. SchummName:
    Steven A. SchummTitle:
    EVP - CFO -  CAOC&G SYSTEMS HOLDING, INC.By:
    /s/ Steven A. SchummName:
    Steven A. SchummTitle:
    EVP - CFO -  CAOTHERMADYNE AUSTRALIA PTY LTD.By:
    /s/ Steven A. SchummName:
    Steven A. SchummTitle:
    EVP - CFO -  CAO




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DUXTECH PTY LTD.By:
    /s/ Steven A. SchummName:
    Steven A. SchummTitle:
    EVP - CFO -  CAOCIGWELD PTY LTD.By:
    /s/ Steven A. SchummName:
    Steven A. SchummTitle:
    EVP - CFO -  CAOQUETALA PTY. LTD.By:
    /s/ Steven A. SchummName:
    Steven A. SchummTitle:
    EVP - CFO -  CAOQUETACK PTY. LTD.By:
    /s/ Steven A. SchummName:
    Steven A. SchummTitle:
    EVP - CFO -  CAOTHERMADYNE WELDING PRODUCTS
CANADA LIMITEDBy:
    /s/ Steven A. SchummName:
    Steven A. SchummTitle:
    EVP - CFO -  CAOTHERMADYNE INDUSTRIES LIMITEDBy:
    /s/ Steven A. SchummName:
    Steven A. SchummTitle:
    EVP - CFO -  CAO




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EXHIBIT 2.2
to  CREDIT AGREEMENT
   
 
 
 Attention:
    
    Thermadyne Holdings Corporation,
Account Manager
  Credit Party Credit
Agreement Section 2.2 Cash
Collateral Release Section 2.2
 1.
    
    The date of the requested Cash Collateral Release is , .2.
    
    The aggregate amount of the requested Cash Collateral Release is
$ .3.
    
    The total value of the Credit Partys Collateral located
outside of Victoria, Australia does not exceed AUS$8,000,000 on the date hereof.4.
    
    The landlord of the leased property located at 71 Gower Street,
Preston, Victoria, Australia, has not declared that the Credit Party is in
default nor is the Credit Party in default under the terms of such lease.




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5.
    
    The requested Cash Collateral Release is to be sent to:




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CIGWELD PTY LTD.By:Name:Title:  THERMADYNE HOLDINGS CORPORATION
 By:Name:Title: GENERAL ELECTRIC CAPITAL CORPORATION,
 By:Duly Authorized Signatory