Exhibit 10.17
  SENIOR SECURED SUPER PRIORITY DEBTOR IN POSSESSION CREDIT AGREEMENT
         as Guarantors
   as Lenders
   as Collateral Agent and Administrative Agent




---



##### 



TABLE OF CONTENTS
 ARTICLE I DEFINITIONS AND ACCOUNTING TERMSSection 1.01. Certain Defined TermsSection 1.02. Computation of Time Periods; Other Definitional ProvisionsSection 1.03. Accounting TermsARTICLE II AMOUNT AND TERMS OF THE TERM LOANSSection 2.01. Term Loan CommitmentsSection 2.02. Making the Term LoansSection 2.03. Repayment of Term LoansSection 2.04. PrepaymentsSection 2.05. InterestSection 2.06. FeesSection 2.07. Increased Costs, EtcSection 2.08. Payments and ComputationsSection 2.09. TaxesSection 2.10. Sharing of Payments, EtcSection 2.11. Use of ProceedsSection 2.12. Defaulting LendersSection 2.13. Evidence of DebtSection 2.14. Extension of Maturity DateSection 2.15. Joint and Several Obligations; Administrative BorrowerARTICLE III CONDITIONS TO EFFECTIVENESS AND OF LENDINGSection 3.01. Conditions Precedent to Borrowing Interim Order AmountSection 3.02. Conditions to Borrowings in Excess of the Interim Order AmountSection 3.03. Conditions Precedent to All BorrowingsSection 3.04. Determinations Under Section 3.01 and 3.02Section 3.05. Conditions Subsequent to Closing DateARTICLE IV REPRESENTATIONS AND WARRANTIESSection 4.01. Representations and Warranties of BorrowersARTICLE V COVENANTSSection 5.01. Affirmative CovenantsSection 5.02. Negative CovenantsSection 5.03. Reporting RequirementsSection 5.04. Financial CovenantsARTICLE VI EVENTS OF DEFAULTSection 6.01. Events of DefaultSection 6.02. Remedies upon Default




---



##### 



TABLE OF CONTENTS
 ARTICLE VII THE AGENTSSection 7.01. Authorization and ActionSection 7.02. Agents Reliance, EtcSection 7.03. Rights as a LenderSection 7.04. Lender Credit DecisionSection 7.05. IndemnificationSection 7.06. Successor AgentsSection 7.07. Notice of DefaultSection 7.08. No Reliance on Administrative Agents Customer Identification ProgramARTICLE VIII PRIORITY AND COLLATERAL SECURITYSection 8.01. Superpriority Claims and Collateral SecuritySection 8.02. Collateral Security PerfectionSection 8.03. GuaranteesSection 8.04. No Discharge; Survival of ClaimsARTICLE IX MISCELLANEOUSSection 9.01. Amendments, EtcSection 9.02. Notices, EtcSection 9.03. No Waiver; RemediesSection 9.04. Costs and ExpensesSection 9.05. Right of Set-offSection 9.06. Binding EffectSection 9.07. Assignments and ParticipationsSection 9.08. Execution in CounterpartsSection 9.09. ConfidentialitySection 9.10. Public DisclosureSection 9.11. Release or Subordination of Collateral/Release of GuarantorSection 9.12. Patriot Act NoticeSection 9.13. Jurisdiction, EtcSection 9.14. Governing LawSection 9.15. Waiver of Jury TrialSection 9.16. Release




---



##### 



SCHEDULES
 Schedule I
    
    -
    
    Commitments and Lending OfficesSchedule II
    
    -
    
    Canadian Refractive CentersSchedule III
    
    -
    
    GuarantorsSchedule 3.05
    
    
    
    Conditions Subsequent to Closing DateSchedule 4.01(b)
    
    -
    
    Loan PartiesSchedule 4.01(f)
    
    -
    
    Disclosed LitigationSchedule 4.01(n)
    
    -
    
    Environmental DisclosureSchedule 4.01(p)
    
    -
    
    LiensSchedule 4.01(q)
    
    -
    
    InvestmentsSchedule 5.02(b)
    
    -
    
    Debt
 EXHIBITS
 Exhibit A
    
    -
    
    Form of NoteExhibit B
    
    -
    
    Form of Notice of BorrowingExhibit C
    
    -
    
    Form of Assignment and AcceptanceExhibit D-1
    
    -
    
    Form of U.S. Security AgreementExhibit D-2
    
    -
    
    Form of Canadian Security AgreementExhibit E
    
    -
    
    Form of GuarantyExhibit F-1
    
    -
    
    Form of Opinion of Canadian CounselExhibit F-2
    
    -
    
    Form of Opinion of U.S. CounselExhibit G
    
    -
    
    Form of Intercreditor Agreement




---



##### 



Holdco Parent TLC Management Borrowers Article VII Collateral Agent Article VII Administrative Agent Agents
  Petition Date Chapter 11 Cases Bankruptcy Court
 CCAA Canadian Court Canadian Case Cases
  Prepetition Borrower Prepetition Guarantors Prepetition Lenders Prepetition Agent Prepetition Credit Agreement
 Prepetition Lender Debt
 Facility




---



##### 



ARTICLE I
 DEFINITIONS AND ACCOUNTING TERMS
 Certain Defined Terms
 Administrative Agent
 Administrative Agents Account
 Administrative Borrower Section 2.15(h)
 Affiliate




---



##### 



Agents
 Agent Parties Section 9.02(c)
 Agreement
 Approved Fund
 Assignment and Acceptance Section 9.07 Section 9.07 Exhibit C
 Bankruptcy Code
 Bankruptcy Court
 Bankruptcy Law
 BIA
 Borrowers
 Borrowing
 Budget




---



##### 



Business Day
 Canadian Case
 Canadian Court
 Canadian Loan Parties
 Canadian Intellectual Property Security Agreement
 Canadian Plan
 Canadian Refractive Centers Schedule II
 Canadian Security Agreement Section 3.01(a)(iii)
 Capital Expenditures
 Capitalized Leases




---



##### 



Carve Out provided
 Cases
 Cash Equivalents
 CCAA
 CERCLA
 CERCLIS
 Change of Control




---



##### 



Chapter 11 Cases
 CIP Regulations Section 7.08
 Closing Date Section 3.01
 Collateral
 Collateral Agent
 Collateral Agents Office
 Collateral Documents Section 5.01(j)
 Commitment Schedule I Section 9.07(d) Section 2.04
 Communications Section 9.02(b)
 Consenting Lenders
 Consolidated
 Continuing Directors




---



##### 



Control Account Agreement Section 5.01(l) 5.02(t)
 Controlled Cash
 Controlled Loan Party
 Creditors Committee
 Current Assets
 Current Liabilities
 Debt
 Debt for Borrowed Money




---



##### 



Default
 Default Interest Section 2.05(b)
 Defaulted Loan Section 2.01 Section
2.02 Section 2.02(d) Section 2.12(a) Section 2.01
 Defaulted Amount Section
2.02(d) Section
2.10 Section 7.05 Section 2.12(b)
 Defaulting Lender
 DIP Proceeds Controlled Account
 Disclosed Litigation Section 3.01(c)
 Disposition Dispose
 Dollar $




---



##### 



Eligible Assignee pro rata provided however
 Environmental Action
 Environmental Law
 Environmental Permit
 Equity Interests
 ERISA
 ERISA Affiliate




---



##### 



Eurocurrency Liabilities
 Eurodollar Rate provided that
 Eurodollar Rate Reserve Percentage
 Events of Default Section 6.01
 Exit Fee Section 2.06
 Extension Fee Section 2.06
 Extraordinary Receipt provided, however
 Facility
 Federal Funds Rate




---



##### 



Fee Letter
 Final Order
 Final Order Amount Section 5.02(e)
 Final Order Funding Date
 Financial Advisor
 Fiscal Year
 Fund
 Funded Debt
 GAAP Section 1.03
 Governmental Authority
 Governmental Authorization




---



##### 



Guaranteed Debt primary obligations primary obligor
 Guarantors Schedule
III Section 5.01(j)
 Guaranty Exhibit E Section 5.01(j)
 Hazardous Materials
 Healthcare Law




---



##### 



Hedge Agreements
 Holdco
 Indemnified Party Section 9.04(b)
 Information provided
 Initial Pledged Debt




---



##### 



Initial Pledged Equity
 Intellectual Property Security Agreement
 Intercreditor Agreement Exhibit G
 Interest Period provided however
   Interim Order
 Interim Order Amount Section 5.02(e)
 Internal Revenue Code
 Investment




---



##### 



Kremer Claims Section 3.02(c)
 Lenders Section 9.07
 Lending Office Lending Office Schedule I
 Lien
 Liquidity
 Liquidity Guidelines
 Loan Documents
 Loan Parties
 Margin Stock
 Material Adverse Change
 Material Adverse Effect
 Maturity Date




---



##### 



Measurement Period
 Medicaid et seq
 Medicaid Regulations
 Medical Reimbursement Programs
 Medicare et seq




---



##### 



Medicare Regulations
 Moodys
 Multiemployer Plan
 Multiple Employer Plan
 Net Cash Proceeds
 Section 5.02(e) provided however




---



##### 



Section 5.02(b)
 provided however
 provided, however
 Non-Owned Controlled Cash
 Note Exhibit A
 Notice of Borrowing Section 2.02(a)
 NPL
 Obligation




---



##### 



Orders
 Other Taxes Section 2.09(b)
 Owned Cash
 Parent
 Patriot Act
 PBGC
 Permitted Liens Section 5.01(b)




---



##### 



Section 6.01(f)
 Person
 Petition Date
 Plan
 Plan of Reorganization
  Plan Support Agreement
 Plan Term Sheet
 Platform Section 9.02(b)
 Pledged Debt
 Pledged Equity
 PPSA
 Preferred Interests
 Prepetition Agents
 Prepetition Borrower




---



##### 



Prepetition Credit Agreement
 Prepetition Loan Documents
 Prepetition Guarantors
 Prepetition Lender Debt
 Prepetition Lenders
 Recognition Order Section 3.01(l)
 Redeemable
 Register Section 9.07(d)
 Registrar Section 9.07(d)
 Regulation U
 Representatives Section 9.09
 Required Lenders provided however
 Required Prepetition Lenders
 Requirement of Law




---



##### 



Responsible Officer
 Restructuring Monitor
 S&P
 Secured Obligations
 Secured Parties
 Securities Account
 Securities Account Control Agreement
 Security Agreements
 Securitization Section 9.07(j)
 Securitization Liabilities Section 9.07(j)
 Securitization Party Section 9.07(j)
 Securitizing Party Section 9.07(j)
 Single Employer Plan
 Special Counsel
 Subordinated Debt
 Subsidiary




---



##### 



Superpriority Claim
 Synthetic Debt
 Taxes Section 2.09(a)
 Term Loan Section 2.01
 Term Loan Percentage
 Total Commitments
 TLC Current System Payment Guidelines




---



##### 



TLC Current System Receivables Practices
 U.S. Debtors
 U.S. Intellectual Property Security Agreement
 U.S. Security Agreement Section 3.01(a)(iii)
 Voting Interests
 Working Capital
 Computation of Time Periods; Other Definitional Provisions from to until as amended
 Accounting Terms Section 4.01(g) GAAP
 ARTICLE II
 AMOUNT AND TERMS OF THE TERM LOANS
 Term Loan Commitments Term Loan




---



##### 



provided
 Making the Term Loans Notice of
Borrowing Exhibit B Article III
 Article III
 Section 2.02




---



##### 



Section 2.05
  Repayment of Term Loans Section 2.04
 Prepayments Optional provided however Section 9.04(c)
 Mandatory Section 2.04(b)(i)




---



##### 



Section 5.02(b)
 Section 2.04(b)
 Section 9.04(c)
 Section
2.04(b)(i) (iv)
     Interest Scheduled Interest
 Default Interest Default Interest Section 2.05(a)




---



##### 



Notice of Interest Period and Interest Rate Section 2.02(a)
 Fees pro rata Exit Fee Extension Fee Section 2.14
 Increased Costs, Etc Section 2.07 Section 2.09 provided however Section 2.07(a) Section 2.07(a) provided further Section 2.07(a)




---



##### 



provided however Section 2.07(b) Section 2.07(b)
 provided however
 Section 2.07 Section 2.09 Section 2.07(c)




---



##### 



Section
2.07 Section 2.09 Section 9.07
 Payments and Computations Section 2.12 Section
9.07(d)




---



##### 



Interest Act
   Criminal Code
 provided however




---



##### 



Taxes Section 2.08 excluding Taxes Section 2.09
 Other Taxes
 Section 2.09




---



##### 



Section 9.02 Section 2.09 United States United States person
 provided however Section 2.09




---



##### 



Section 2.09 provided however
 Sharing of Payments, Etc Section
9.07 provided however




---



##### 



Section 2.10
 Use of Proceeds
 Defaulting Lenders Section 2.01 Section
2.01 Section 2.12




---



##### 



first
 second
 third,
  Section 2.12
 Evidence of Debt Exhibit A
 Section 9.07(d)




---



##### 



prima facie provided however
 Extension of Maturity Date
 Requests for Extension
 Conditions to Extension of Maturity Date
 Section 4.01 provided
 Section 5.04




---



##### 



pro rata Section 2.06
  Conflicting Provisions Section 2.14 Section 8.01
 Joint and Several Obligations; Administrative Borrower
  Section 2.15
  Section 2.15




---



##### 



Section 2.15 Section
2.15 Section 2.15 Section 2.15
 Section 2.15 Section 2.15 Section 2.15
  Administrative Borrower




---



##### 



ARTICLE III
 CONDITIONS TO EFFECTIVENESS AND OF LENDING
 Conditions Precedent to Borrowing Interim Order Amount Section
2.01 Closing Date Section 9.01
   Section 2.13
 Exhibit D-1 U.S. Security Agreement Exhibit D-2 Canadian Security Agreement




---



##### 



provided Schedule 3.05
 provided




---



##### 



Article IV provided Article III
    Schedule 4.01(f) Disclosed Litigation Schedule 4.01(f)




---



##### 



Recognition Order




---



##### 



Conditions to Borrowings in Excess of the Interim Order Amount




---



##### 



Section 9.01
   Kremer Claims
   Conditions Precedent to All Borrowings




---



##### 



provided
   provided
  Section 3.03
 Determinations Under Section 3.01 and 3.02 Section 3.01 Section 3.02




---



##### 



Conditions Subsequent to Closing Date Schedule 3.05 Schedule 3.05
 ARTICLE IV
 REPRESENTATIONS AND WARRANTIES
 Representations and Warranties of Borrowers
  Schedule 4.01(b) Section 3.01(a)(v)




---



##### 








---



##### 



Schedule 4.01(f)
  Section 4.01(h)
 Section
4.01(i)




---



##### 



Schedule 4.01(n)
 Schedule 4.01(n)




---



##### 



Schedule 4.01(n)
  Schedule 4.01(p)
 Schedule 4.01(q)




---



##### 



provided




---



##### 



ARTICLE V
 COVENANTS
 Affirmative Covenants
 Compliance with Laws, Etc
 Payment of Taxes, Etc provided however
 Compliance with Environmental Laws




---



##### 



provided however
 Maintenance of Insurance
 Preservation of Corporate Existence, Etc provided
 Visitation Rights
 Keeping of Books
 Maintenance of Properties, Etc
 Transactions with Affiliates provided




---



##### 



Section 5.04(a)
 Covenant to Guarantee Obligations and Give Security




---



##### 



Section 5.01(j)
  provided however
  Section 5.01(j) Section 5.01(j)




---



##### 



Further Assurances
   Control Account Agreements
 Preparation of Environmental Reports




---



##### 



Healthcare Matters
 Maintenance of Ratings
 Due Diligence
 Use of Proceeds Section 5.04(a)
 Critical Vendors
 Filing of Claims, Schedules, and Statement of Affairs in the Cases
 Last Day to File Claims




---



##### 



Interim Order
 Call Center
 Cash Management System
 Vision Source, L.P.
 Canadian Refractive Centers
 Parents Assets
 Canadian Court
 Restructuring Monitor
 Kremer Claims
 Negative Covenants




---



##### 



Liens, Etc
   Schedule 4.01(p)
 provided however provided further Section 5.02(b)(iv)
 Section 5.02(b)(iv) provided
 Debt




---



##### 



Debt
 Section 5.02(f)
 Schedule 5.02(b) hereto
 Change in Nature of Business
 Mergers, Etc provided
 Sales, Etc. of Assets




---



##### 



Section 2.04 Section 2.04
  Section 5.01(i)
  Section 5.02(d) Section 5.02(f) Section
5.02(g)
 Investments in Other Persons
    Schedule 4.01(q)
 Restricted Payments




---



##### 



Amendments of Constitutive Documents
 Accounting Changes
 Prepayments, Etc., of Debt
 Negative Pledge Section 5.02(b)(iv) Section 5.02(b)(iv)
 Speculative Transactions
 Hedge Agreements
 Restrictions Affecting Subsidiaries provided




---



##### 



ERISA
 Material Amendments
 Prepetition Indebtedness
      Bankruptcy Chapter 11 Cases




---



##### 



Success and Other Similar Fees
 Control Account Agreements provided
 DIP Proceeds Controlled Account
 Reporting Requirements
 Default Notice
 Annual Financials




---



##### 



Section 5.04
 Quarterly Financials Section 5.04
 Cash Flow Forecast
 Chief Financial Officer Report and Certificate




---



##### 



Litigation Section 4.01(f) Schedule 4.01(f)
 Securities Reports
 Creditor Reports Section
5.03(h)
 Environmental Conditions




---



##### 



Real Property
 Insurance th
 Casualty Losses
 Other Information Section 9.12
 Monthly Financials
 Termination of Contracts, Etc.
 Restructuring Monitor Report




---



##### 



Financial Covenants
 Budget Compliance provided




---



##### 



Minimum Liquidity
 Capital Expenditures
 ARTICLE VI
 EVENTS OF DEFAULT
 Events of Default Events of Default
   Section 5.01(e) (i) Section 5.02 Section 5.04




---



##### 



Section 3.01 Section 5.01(j)
 Section 3.01 Section 5.01(j)




---



##### 








---



##### 



Remedies upon Default




---



##### 



Section 6.02
 ARTICLE VII
 THE AGENTS
 Authorization and Action provided however
 Article VII Section 7.05




---



##### 



Section 9.11 provided however




---



##### 



Agents Reliance, Etc Section 2.08
 Rights as a Lender




---



##### 



Lender Credit Decision Section
4.01
 Indemnification Indemnified
Costs provided however provided Section 7.05 Section 9.04 Section 7.05
 Section 7.05




---



##### 



Section 7.05
 Successor Agents provided however provided further Section 7.06 Article VII
 Notice of Default Section 7.01




---



##### 



No Reliance on Administrative Agents Customer Identification Program CIP Regulations
 ARTICLE VIII
 PRIORITY AND COLLATERAL SECURITY
 Superpriority Claims and Collateral Security




---



##### 



Section 8.01
 Section 8.01(a)
 Collateral Security Perfection Section 8.02
 Guarantees
 No Discharge; Survival of Claims




---



##### 



ARTICLE IX
 MISCELLANEOUS
 Amendments, Etc provided however
 Section 3.01 Section 3.03




---



##### 



Section 2.03 Section 2.05
 provided further
 Notices, Etc Section 9.02(b) Section 9.02(a) Section 9.02(b) Schedule I provided, however Section 9.02(b)
 Communications




---



##### 



Platform
   No Waiver; Remedies




---



##### 



Costs and Expenses
 Indemnified Party Section
9.04(b)




---



##### 



Section 2.04 Section 6.01 Section 9.07 Section 2.07(d) Section 2.03 Section 2.04 Section
6.01
  Section 2.07 Section 2.09 Section 9.04
 Right of Set-off Section 6.01 provided however




---



##### 



Binding Effect
 Assignments and Participations Section 2.07(d) provided however Section
2.07(d) Section
2.07(d) provided however Section 2.07(d)




---



##### 



Section 2.07 Section 2.09
 Section 4.01
 Register Registrar Section 9.02




---



##### 



Section 9.07 Section 9.04(b)
  Exhibit C Exhibit A
 provided however




---



##### 



Section 9.07 provided however Section
9.09(f)
  provided Section 9.07
 Section 9.07 Securitizing Parties Securitization provided




---



##### 



Securitization Parties Securitization Liabilities
 Execution in Counterparts
 Confidentiality Representatives Section 9.09 Section 9.09




---



##### 



Public Disclosure
  Release or Subordination of Collateral/Release of Guarantor Section 5.02(a)(iv) Section 5.02(a)(v) Section 5.02(a)(iv) Section
5.02(a)(v)
 Patriot Act Notice
 Jurisdiction, Etc




---



##### 



Governing Law
 Waiver of Jury Trial
 Release Releasing Parties




---



##### 



Released
Parties




---



##### 



BORROWERS
TLC VISION (USA) CORPORATIONBy:
    /s/ William McManusName:
    William McManusTitle:
    Interim Chief Financial OfficerTLC VISION CORPORATIONBy:
    /s/ William McManusName:
    William McManusTitle:
    Interim Chief Financial OfficerTLC MANAGEMENT SERVICES INC.By:
    /s/ William McManusName:
    William McManusTitle:
    Interim Chief Financial Officer




---



##### 



GUARANTORSAMERICAN EYE INSTRUMENTS, INC.LASER EYE SURGERY, INC.LASER VISION CENTERS, INC.LVCI CALIFORNIA, LLCBy:
    
    Laser Vision Centers, Inc., its MemberSIGHTPATH MEDICAL INC.OR PARTNERS, INC.O.R. PROVIDERS, INC.SOUTHEAST MEDICAL, INC.SOUTHERN OPHTHALMICS, INC.TLC CAPITAL CORPORATIONTLC FLORIDA EYE LASER CENTER, LLCBy:
    
    TLC THE LASER CENTER(INSTITUTE) INC., ITS MEMBERTLC LASER EYE CENTERS (ATAC), LLCTLC LASER EYE CENTERS (REFRACTIVE I) INC.TLC MIDWEST EYE LASER CENTER, INC.TLC THE LASER CENTER (ANNAPOLIS) INC.TLC THE LASER CENTER (BALTIMORE MANAGEMENT) LLCTLC THE LASER CENTER (BALTIMORE) INC.TLC THE LASER CENTER (BOCA RATON) LIMITED PARTNERSHIPBy:
    
    (NORTHEAST) INC., ITS GENERALPARTNERTLC THE LASER CENTER (CAROLINA) INC.TLC THE LASER CENTER (CONNECTICUT) L.L.C.By:
    
    TLC THE LASER CENTER(NORTHEAST) INC., ITS SOLEMEMBERTLC THE LASER CENTER (INSTITUTE) INC.TLC THE LASER CENTER (NORTHEAST) INC.TLC VC, LLCTLC VISION SOURCE, INC.TLC WHITTEN LASER EYE ASSOCIATES, LLCBy:
    
    TLC THE LASER CENTER(NORTHEAST) INC., ITS MEMBERTRUVISION, INC.TRUVISION CONTACTS, INC.TRUVISION PROVIDER ONLINE SERVICES, INC.VALLEY LASER EYE CENTER, LLCBy:
    
    LASER VISION CENTERS, INC., ITS SOLEMEMBER




---



##### 



By:
    /s/ William McManusName:
    William McManusTitle:
    Interim Chief Financial Officer




---



##### 



TLC THE LASER CENTER (MONCTON) INC.
RHEO CLINIC INC.
VISION CORPORATIONBy:
    /s/ William McManusName:
    William McManusTitle:
    Interim Chief Financial Officer




---



##### 



AGENTS
Cantor Fitzgerald Securities,
as Administrative Agent and Collateral AgentBy:
    /s/ Shawn MathewsName:
    Shawn MathewsTitle:
    Chief Financial OfficerLENDERS
Cantor Fitzgerald Securities,
as Administrative Agent and Collateral AgentBy:
    /s/ Shawn MathewsName:
    Shawn MathewsTitle:
    Chief Financial Officer




---



##### 



SCHEDULE D-1 TO SENIOR DIP CREDIT AGREEMENT
 U.S. SECURITY AGREEMENT
    as Grantors
   as Collateral Agent




---



##### 



T A B L E O F C O N T E N T S
 SECTION 1.
    
    GRANT OF SECURITYSECTION 2.
    
    SECURITY FOR OBLIGATIONSSECTION 3.
    
    GRANTORS REMAIN LIABLESECTION 4.
    
    DELIVERY AND CONTROL OF SECURITY COLLATERALSECTION 5.
    
    MAINTAINING THE ACCOUNT COLLATERALSECTION 6.
    
    REPRESENTATIONS AND WARRANTIESSECTION 7.
    
    FURTHER ASSURANCESSECTION 8.
    
    AS TO EQUIPMENT AND INVENTORYSECTION 9.
    
    INSURANCESECTION 10.
    
    POST-CLOSING CHANGES; COLLECTIONS ON ASSIGNED AGREEMENTS, RECEIVABLES AND RELATED CONTRACTSSECTION 11.
    
    AS TO INTELLECTUAL PROPERTY COLLATERALSECTION 12.
    
    VOTING RIGHTS; DIVIDENDS; ETCSECTION 13.
    
    AS TO LETTER-OF-CREDIT RIGHTSSECTION 14.
    
    COMMERCIAL TORT CLAIMSSECTION 15.
    
    TRANSFERS AND OTHER LIENS; ADDITIONAL SHARESSECTION 16.
    
    COLLATERAL AGENT APPOINTED ATTORNEY IN FACTSECTION 17.
    
    COLLATERAL AGENT MAY PERFORMSECTION 18.
    
    THE COLLATERAL AGENTS DUTIESSECTION 19.
    
    REMEDIESSECTION 20.
    
    INDEMNITY AND EXPENSESSECTION 21.
    
    AMENDMENTS; WAIVERS; ADDITIONAL GRANTORS; ETCSECTION 22.
    
    NOTICES, ETCSECTION 23.
    
    CONTINUING SECURITY INTEREST; ASSIGNMENTS UNDER THE CREDIT
AGREEMENTSECTION 24.
    
    RELEASE; TERMINATIONSECTION 25.
    
    EXECUTION IN COUNTERPARTSSECTION 26.
    
    GOVERNING LAWSECTION 27.
    
    MATTERS RELATING TO SECURITY




---



##### 



SchedulesSchedule I
    
    -
    
    Investment PropertySchedule II
    
    -
    
    Pledged Deposit AccountsSchedule III
    
    -
    
    Intellectual PropertySchedule IV
    
    -
    
    Commercial Tort ClaimsSchedule V
    
    -
    
    Location, Chief Executive Office, Type of Organization, Jurisdiction of
Organization and Organizational Identification NumberSchedule VI
    
    -
    
    Locations of Equipment and InventorySchedule VII
    
    -
    
    Letters of CreditExhibitsExhibit A
    
    -
    
    Form of U.S. Intellectual Property Security AgreementExhibit B
    
    -
    
    Form of U.S. Intellectual Property Security Agreement SupplementExhibit C
    
    -
    
    Form of U.S. Security Agreement Supplement




---



##### 



U.S. SECURITY AGREEMENT
 Holdco TLC
Management Grantors Collateral Agent
 Parent Borrowers Credit Agreement
 Petition Date
   Facility
  Initial Pledged Equity Schedule I Initial Pledged Debt Schedule I




---



##### 



Pledged Deposit
Accounts Schedule II
    1. Grant of Security Collateral
 Equipment
 Inventory




---



##### 



Receivables Related Contracts
 Security Collateral
   Pledged Equity
 Pledged
Debt




---



##### 



Assigned Agreements Agreement
Collateral
 Account Collateral
    Intellectual Property
Collateral
 Patents




---



##### 



Trademarks
 Copyrights
 Computer Software
 Trade Secrets
 Schedule III
  Schedule III IP
Agreements




---



##### 



Schedule IV Section 14 Commercial Tort Claims
Collateral
   Section 1
 provided however Controlled Foreign Corporation




---



##### 



provided
 2. Security for Obligations Secured Obligations
 3. Grantors Remain Liable
 4. Delivery and Control of Security Collateral




---



##### 



Uncertificated Security Control
Agreement
 Securities Account Control
Agreement
 Section 12(a)
  5. Maintaining the Account Collateral (other than contingent indemnification and reimbursement claims in respect of which no claim
for payment has been asserted by the Person entitled thereto)
 6. Representations and Warranties
 Schedule V




---



##### 



Schedule VI Section 8(a)
    Schedule I Schedule I
 Schedule I Section 4
 Schedule II Section 5




---



##### 



Schedule VII Section 13
  Section 11(f) Section 4




---



##### 



Schedule III




---



##### 



Schedule III




---



##### 



Schedule IV Section 14
 7. Further Assurances
   8. As to Equipment and Inventory




---



##### 



Section 6(c) Section 6(c)
  9. Insurance Section 8
 Section 9
 10. Post-Closing Changes; Collections on Assigned Agreements, Receivables and Related
Contracts Section
6(a)




---



##### 



provided however Section
19(b)
 11. As to Intellectual Property Collateral




---



##### 








---



##### 



Exhibit A Intellectual Property Security Agreement
 Section 1(g) After-Acquired
Intellectual Property IP Security Agreement Supplement
 12. Voting Rights; Dividends; Etc
 provided however
 provided however




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Section 12(a)(i) Section 12(a)(ii)
 Section
12(b)
 13. As to Letter-of-Credit Rights




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14. Commercial Tort Claims
 15. Transfers and Other Liens; Additional Shares
  16. Collateral Agent Appointed Attorney in Fact




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Section 9
    17. Collateral Agent May Perform Section 20
 18. The Collateral Agents Duties
 Subagent




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provided however
 19. Remedies




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Section 20 (other than contingent indemnification
and reimbursement claims in respect of which no claim for payment has been asserted
by the Person entitled thereto)
 first
 second
    provided, that




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20. Indemnity and Expenses Indemnified Party
  21. Amendments; Waivers; Additional Grantors; Etc
 Exhibit C Security Agreement Supplement Additional Grantor




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22. Notices, Etc
 23. Continuing Security Interest; Assignments under the Credit Agreement (other than contingent indemnification and reimbursement claims in respect of which
no claim for payment has been asserted by the Person entitled thereto)
 24. Release; Termination provided however




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(other than contingent indemnification and reimbursement claims in
respect of which no claim for payment has been asserted by the Person entitled
thereto)
 25. Execution in Counterparts
 26. Governing Law
 27. Matters Relating to Security




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[GRANTOR]By:Name:Title:




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EXHIBIT D-2 TO SENIOR DIP CREDIT AGREEMENT
 CANADIAN SECURITY AGREEMENT
    as Grantors
   as Collateral Agent




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TABLE OF CONTENTS
 SECTION 1.
    
    GRANT OF SECURITYSECTION 2.
    
    SECURITY FOR OBLIGATIONS AND ATTACHMENTSECTION 3.
    
    GRANTORS REMAIN LIABLESECTION 4.
    
    DELIVERY AND CONTROL OF SECURITY COLLATERALSECTION 5.
    
    MAINTAINING THE ACCOUNT COLLATERALSECTION 6.
    
    REPRESENTATIONS AND WARRANTIESSECTION 7.
    
    FURTHER ASSURANCESSECTION 8.
    
    AS TO EQUIPMENT AND INVENTORYSECTION 9.
    
    INSURANCESECTION 10.
    
    POST-CLOSING CHANGES; COLLECTIONS ON ASSIGNED AGREEMENTS, RECEIVABLES AND RELATED CONTRACTSSECTION 11.
    
    AS TO INTELLECTUAL PROPERTY COLLATERALSECTION 12.
    
    VOTING RIGHTS; DIVIDENDS; ETCSECTION 13.
    
    AS TO LETTER-OF-CREDIT RIGHTSSECTION 14.
    
    TRANSFERS AND OTHER LIENS; ADDITIONAL SHARESSECTION 15.
    
    COLLATERAL AGENT APPOINTED ATTORNEY IN FACTSECTION 16.
    
    COLLATERAL AGENT MAY PERFORMSECTION 17.
    
    THE COLLATERAL AGENTS DUTIESSECTION 18.
    
    REMEDIESSECTION 19.
    
    INDEMNITY AND EXPENSESSECTION 20.
    
    AMENDMENTS; WAIVERS; ADDITIONAL GRANTORS; ETCSECTION 21.
    
    NOTICES, ETCSECTION 22.
    
    CONTINUING SECURITY INTEREST; ASSIGNMENTS UNDER THE CREDIT AGREEMENTSECTION 23.
    
    RELEASE; TERMINATIONSECTION 24.
    
    EXECUTION IN COUNTERPARTSSECTION 25.
    
    GOVERNING LAWSECTION 26.
    
    MATTERS RELATING TO SECURITY




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SchedulesSchedule I
    
    -
    
    Investment PropertySchedule II
    
    -
    
    Pledged Deposit AccountsSchedule III
    
    -
    
    Intellectual PropertySchedule IV
    
    -
    
    Location, Chief Executive Office, Type of Organization, Jurisdiction of
Organization and Organizational Identification NumberSchedule V
    
    -
    
    Locations of Equipment, Inventory and Other Tangible Personal PropertySchedule VI
    
    -
    
    Letters of CreditExhibitsExhibit A
    
    -
    
    Form of Intellectual Property Security AgreementExhibit B
    
    -
    
    Form of Intellectual Property Security Agreement SupplementExhibit C
    
    -
    
    Form of Security Agreement Supplement




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CANADIAN SECURITY AGREEMENT
 Parent Grantors Collateral Agent
 Holdco TLC Management Borrowers Credit Agreement
 Petition Date
   Facility
  Initial Pledged Equity Schedule I Initial Pledged Debt Schedule I
 Pledged Deposit Accounts Schedule II




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1.
 Collateral
 PPSA Equipment
 Inventory




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Receivables Related Contracts
 Security Collateral
   Pledged Equity
 Pledged Debt




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Assigned Agreements Agreement Collateral
 Account Collateral
    Intellectual Property Collateral
 Patents
 Trademarks
 Copyrights




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Computer Software
 Trade Secrets
 Schedule III
  Schedule III IP Agreements




---



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Section 1
 provided, however Controlled Foreign Corporation provided, however




---



##### 



provided
 2.
 Secured Obligations
 3.
  4.




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Uncertificated Security Control Agreement
 Securities Account
Control Agreement
 Section 12(a)
  5.
  6.
  Schedule IV




---



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Schedule V Section 8(a)
    Schedule I Schedule I
 Schedule I Section 4
 Schedule II Section 5
 Schedule VI Section 13




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Section 11(f) Section 4
     Schedule III




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Schedule III




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7.




---



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8.
 Section 6(c) Section 6(c)
  9.




---



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Section 8
 Section 9
 10.
 provided, however




---



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Section 18(b)
 11.




---



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Exhibit A Intellectual
Property Security Agreement
 Section 1(g) After-Acquired Intellectual Property Exhibit B IP Security Agreement Supplement




---



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12.
  provided however
 provided, however
       Section 12(a)(i)




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Section 12(a)(ii)
 Section 12(b)
 13.
   14.




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15.
  Section 9
    16.
 Section 19
 17.




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Subagent provided, however
 18.




---



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Section 20
 first
 second
    provided, that




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19.
 Indemnified Party
  20.




---



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Exhibit C Security Agreement Supplement Additional Grantor
 21.
  22.




---



##### 



23.
 provided, however
  24.
  25.




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26.




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---



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Address for Notices:
    
    
    
    [GRANTOR]By:Name:Title:Address for Notices:
    
    
    
    TLC VISION CORPORATIONBy:Name:Title:Address for Notices:
    
    
    
    TLC THE LASER CENTER (MONCTON) INC.By:Name:Title:Address for Notices:
    
    
    
    RHEO CLINIC INC.By:Name:Title:Address for Notices:
    
    
    
    VISION CORPORATIONBy:Name:Title:




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EXHIBIT E TO SENIOR DIP CREDIT AGREEMENT
 GUARANTY
    as Guarantors




---



##### 



TABLE OF CONTENTS
 SECTION 1.
    
    GUARANTY; LIMITATION OF LIABILITYSECTION 2.
    
    GUARANTY ABSOLUTESECTION 3.
    
    WAIVERS AND ACKNOWLEDGMENTSSECTION 4.
    
    SUBROGATIONSECTION 5.
    
    PAYMENTS FREE AND CLEAR OF TAXES, ETCSECTION 6.
    
    REPRESENTATIONS AND WARRANTIESSECTION 7.
    
    COVENANTSSECTION 8.
    
    AMENDMENTS, GUARANTY SUPPLEMENTS, ETCSECTION 9.
    
    NOTICES, ETCSECTION 10.
    
    NO WAIVER; REMEDIESSECTION 11.
    
    RIGHT OF SET-OFFSECTION 12.
    
    INDEMNIFICATIONSECTION 13.
    
    SUBORDINATIONSECTION 14.
    
    CONTINUING GUARANTY; ASSIGNMENTS UNDER THE CREDIT AGREEMENTSECTION 15.
    
    EXECUTION IN COUNTERPARTSSECTION 16.
    
    GOVERNING LAW; JURISDICTION; WAIVER OF JURY TRIAL, ETCSECTION 17.
    
    CREDIT AGREEMENT, ORDER




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Guarantors Guarantor Collateral Agent
 Holdco Parent ) TLC Management Borrowers Credit Agreement
 Petition Date
 CCAA
  Facility




---



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1.
 Bankruptcy Law
  2.




---



##### 








---



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3.
     Section 2 Section 3
 4.




---



##### 



5.




---



##### 



Section 5
 Section 9 Section 5 United States United States
person




---



##### 



provided however Section 5
 other than Section 5 provided however
 Original Currency Other Currency




---



##### 



6.
 7. (other than contingent indemnification and reimbursement obligations in respect of
which no claim for payment has been asserted by the Person entitled thereto)
 8. provided however
 Guaranty Supplement Guarantor Guarantor Guarantor this Guaranty hereunder hereof Guaranty thereunder thereof
 9.




---



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10.
 11. provided however
 12. provided however




---



##### 



provided however
 Section 1(a) Section 2 Section 5 Section 12
 13.
 Prohibited Payments, Etc
 Prior Payment of Guaranteed Obligations Post Petition Interest
 Turn-Over




---



##### 



Collateral Agent Authorization including
 14.
 15.
 16.




---



##### 



17.




---



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[GUARANTOR]ByName:Title: