Document:

MMSI-09.30.2013-10Q-Ex10.1

CERTAIN PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED PURSUANT TO RULE 24B-2 AND ARE SUBJECT TO A CONFIDENTIAL TREATMENT REQUEST. COPIES OF THIS EXHIBIT CONTAINING THE OMITTED INFORMATION HAVE BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.  THE OMITTED PORTIONS OF THIS DOCUMENT ARE MARKED WITH A [***].

FIRST AMENDMENT TO
AMENDED AND RESTATED CREDIT AGREEMENT 

Dated as of October 4, 2013
This FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is by and among MERIT MEDICAL SYSTEMS, INC., a Utah corporation (the “Borrower”), certain subsidiaries of the Borrower party hereto (the “Subsidiary Guarantors”), the lenders who are party to this Amendment (the “Consenting Lenders”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”).
PRELIMINARY STATEMENTS
WHEREAS, the Borrower, the lenders party thereto (the “Lenders”), and the Administrative Agent entered into that certain Amended and Restated Credit Agreement dated as of December 19, 2012 (as amended hereby and as further amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”); and
WHEREAS, the Borrower has requested that the Administrative Agent and the Lenders agree to amend the Credit Agreement as specifically set forth herein and, subject to the terms of this Amendment, the Administrative Agent and the Consenting Lenders have agreed to grant such request of the Borrowers.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:
Section 1.Capitalized Terms.  All capitalized terms not otherwise defined in this Amendment (including without limitation in the introductory paragraph and the Preliminary Statements hereto) shall have the meanings as specified in the Credit Agreement.
Section 2.    Amendments to Credit Agreement.  Subject to and in accordance with the terms and conditions set forth herein, the Administrative Agent and each of the Consenting Lenders hereby agrees as follows:
(a)    Section 1.1 of the Credit Agreement is hereby amended by:
(i)inserting the following new definitions in appropriate alphabetical order:
(A)    ““Datascope Acquisition” means the acquisition by the Borrower of certain of the assets, including, without limitation, the medical devices known as the AIR-BAND and the SAFEGUARD and all of the intellectual property, technology, contracts, books, customer lists, inventory, molds, equipment, records, contract rights and other tangible and intangible personal property related thereto, 

of Datascope Corp., a Delaware corporation, pursuant to the terms of the Datascope Acquisition Agreement.”
(B)    ““Datascope Acquisition Agreement” means that certain Asset Purchase Agreement (including all schedules and exhibits thereto), dated as of October 4, 2013, between Datascope Corp., a Delaware corporation, and the Borrower, as amended, restated, supplemented or otherwise modified in accordance with the terms hereof.”
(C)    [***]
(D)    ““First Amendment Effective Date” means October 4, 2013.”
(E)    ““Pearland Facility” means the Borrower’s manufacturing facility in Pearland, Texas.”
(F)    ““Pearland Sale-Leaseback” means that certain sale-leaseback transaction by and between the Borrower, as seller, and Woodbury Strategic Partners Fund, L.P., a Utah limited partnership, or any of its Affiliates, or any other third party reasonably satisfactory to the Administrative Agent, as buyer, in connection with the Pearland Facility; provided that (a) such sale is effected no later than March 31, 2014, (b) at the time of such sale-leaseback, no Default or Event of Default shall exist or would result from such sale-leaseback, (c) such sale is made for approximately $24,000,000, (d) the consideration received in connection with such sale shall be shall be no less than one hundred percent (100%) in cash, (e) the triple net base rent payable under such leaseback is not greater than 7.75% of the total purchase price in the initial year, subject to annual increases not greater than 2.5% each year thereafter, and (f) the requirements of Sections 2.4(d)(ii), Section 2.5(e) and 4.4(b) are complied with in connection therewith.”
(ii)amending the definition of “Applicable Margin” by deleting the table contained therein and the first paragraph following the table contained therein in their entirety and replacing such table and such first paragraph with the following:

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	Revolving Credit Loans
	Term Loan

	Pricing Level
	Consolidated Total Leverage Ratio
	Commitment Fee
	LIBOR +
	Base Rate +
	LIBOR +
	Base Rate +

	I
	Less than 2.25 to 1.00
	0.20%
	1.25%
	0.25%
	1.25%
	0.25%

	II
	Less than 2.50 to 1.00 but greater than or equal to 2.25 to 1.00
	0.20%
	1.50%
	0.50%
	1.50%
	0.50%

	III
	Less than 2.75 to 1.00 but greater than or equal to 2.50 to 1.00
	0.30%
	1.75%
	0.75%
	1.75%
	0.75%

	IV
	Less than 3.25 to 1.00 but greater than or equal to 2.75 to 1.00
	0.40%
	2.00%
	1.00%
	2.00%
	1.00%

	V
	Less than 3.50 to 1.00 but greater than or equal to 3.25 to 1.00
	0.40%
	2.25%
	1.25%
	2.25%
	1.25%

	VI
	Less than 3.75 to 1.00 but greater than or equal to 3.50 to 1.00
	0.40%
	2.75%
	1.75%
	2.75%
	1.75%

	VII
	Less than 4.00 to 1.00 but greater than or equal to 3.75 to 1.00
	0.50%
	3.00%
	2.00%
	3.00%
	2.00%

	VIII
	Less than 4.50 to 1.00 but greater than or equal to 4.00 to 1.00
	0.50%
	3.25%
	2.25%
	3.25%
	2.25%

	IX
	Greater than or equal to 4.50 to 1.00
	0.50%
	3.50%
	2.50%
	3.50%
	2.50%

	 
	

	 
	 
	 
	 
	 

The Applicable Margin shall be determined and adjusted quarterly on the date (each a “Calculation Date”) ten (10) Business Days after the day by which the Borrower is required to provide an Officer’s Compliance Certificate pursuant to Section 8.2 for the most recently ended fiscal quarter of the Borrower; provided that (a) the Applicable Margin shall be based on Pricing Level VIII from the First Amendment Effective Date until the first Calculation Date occurring after the fiscal quarter ending December 31, 2013 and, thereafter the Pricing Level shall be determined by reference to the Consolidated Total Leverage Ratio as of the last day of the most recently ended fiscal quarter of the Borrower preceding the applicable Calculation Date (provided that if, based on the Officer’s Compliance Certificate as required by Section 8.2 for the fiscal quarter ending September 30, 2013, Pricing Level IX would be applicable, the Applicable Margin shall be based on Pricing Level IX until the next Calculation Date), and (b) if the Borrower fails to provide the Officer’s Compliance Certificate as required by Section 8.2 for the most recently ended fiscal quarter of the Borrower preceding the applicable Calculation Date, the Applicable Margin from such Calculation Date shall be based on Pricing Level IX until such time as an appropriate Officer’s Compliance Certificate is provided, at which time 

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the Pricing Level shall be determined by reference to the Consolidated Total Leverage Ratio as of the last day of the most recently ended fiscal quarter of the Borrower preceding such Calculation Date.  The applicable Pricing Level shall be effective from one Calculation Date until the next Calculation Date.  Any adjustment in the Pricing Level shall be applicable to all Extensions of Credit then existing or subsequently made or issued.
(iii)amending the definition of “Capital Expenditures” by inserting the words “and the Datascope Acquisition” immediately following the reference to “(excluding any Permitted Acquisition” and prior to the reference to “)”.
(iv)amending the definition of “Consolidated EBITDA” by inserting (A) the words “and the Datascope Acquisition” immediately following the reference to “(other than the Thomas Acquisition”) contained in clause (b)(vii) therein and (B) the following sentence at the end of such definition: 
“Notwithstanding the foregoing or anything to the contrary contained herein, for purposes of this definition, the Pro Forma Basis adjustment for the Datascope Acquisition for each of the fiscal quarters ended December 31, 2012, March 31, 2013, June 30, 2013 and September 30, 2013 shall be deemed to equal the amount for each such fiscal quarter set forth on Schedule 1.2.”
(v)amending the definition of “Excess Cash Flow” by (A) deleting the words “and Permitted Acquisitions” contained in clause (i)(A) therein and replacing them with “, Permitted Acquisitions and the Datascope Acquisition”, (B) deleting the words “or Permitted Acquisitions which, in either case” contained in clause (i)(B) therein and replacing them with “, Permitted Acquisitions or the Datascope Acquisition which, in each case”, and (C) inserting the words “, the Datascope Acquisition” immediately following the reference to “Permitted Acquisition” contained in clause (i)(C) therein.
(vi)amending the definition of “Pro Forma Basis” by inserting the words “and the Datascope Acquisition” immediately following the words “in the case of a Permitted Acquisition” at the beginning of clause (a)(ii) therein. 
(vii)amending the definition of “Revolving Credit Commitment” by deleting the last sentence of such definition in its entirety and replacing it with the following:
“The aggregate Revolving Credit Commitment of all the Revolving Credit Lenders on the First Amendment Effective Date shall be $215,000,000.”
(viii)amending the definition of “Specified Transactions” by deleting the “.” at the end of such definition and replacing it with the following:
“and (f) the Datascope Acquisition.” 
(ix)amending the definition of “Swingline Commitment” by deleting such definition in its entirety and replacing it with the following: 
““Swingline Commitment” means the lesser of (a) $215,000,000 and (b) the Revolving Credit Commitment.”  

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(x)amending the definition of “Transaction Costs” by inserting the words (A) “and, solely with respect to clause (vii) of the definition of “Consolidated EBITDA”, the Datascope Acquisition” immediately following the reference to “Permitted Acquisition” contained in clause (a) therein and (B) “and, solely with respect to clause (vii) of the definition of “Consolidated EBITDA”, the Datascope Acquisition” immediately following the parenthetical contained in clause (b) therein.
(b)    Section 2.4(d) of the Credit Agreement is hereby amended by deleting such Section in its entirety and replacing it with the following:
“(d)    Prepayment of Revolving Credit Loans in connection with Mandatory Prepayments.  
(i)    Except as otherwise provided in clause (ii) below, in the event that:
(A)     proceeds remain after the prepayments of Term Loan Facility pursuant to Section 4.4(b); or 
(B)     the Revolving Extensions or Credit are required to be directly prepaid pursuant to Sections 4.4(b)(iii) and 4.4(b)(vi) in connection with [***];
the amount of such excess proceeds shall be used on the date of the required prepayment under Section 4.4(b) to prepay the outstanding principal amount of the Revolving Extensions of Credit, without a corresponding reduction of the Revolving Credit Commitment, with remaining proceeds, if any, refunded to the Borrower.
(ii)    The outstanding principal amount of the Revolving Extensions of Credit shall be prepaid, with a corresponding reduction of the Revolving Credit Commitment as required pursuant to Section 2.5(e), in connection with the Pearland Sale-Leaseback.  
(iii)    Each prepayment pursuant to this subsection (d) shall be applied first, to the principal amount of outstanding Swingline Loans until paid in full, second to the principal amount of outstanding Revolving Credit Loans until paid in full and third, with respect to any Letters of Credit then outstanding, a payment of cash collateral into a cash collateral account opened by the Administrative Agent, for the benefit of the Revolving Credit Lenders, in an amount equal to the aggregate L/C Obligations then outstanding (such cash collateral to be applied in accordance with Section 12.2(b)).”
(c)    Section 2.5 of the Credit Agreement is hereby amended by (i) re-numbering subsections “(b)” and “(c)” thereof as subsections “(c)” and “(d)”, respectively and (ii) inserting the following new subsections (b) and (e) in appropriate alphabetical order:
“(b)    Scheduled Reduction.     The Revolving Credit Commitment shall be automatically and permanently reduced, without premium or penalty, to (i) $190,000,000 on March 31, 2014 and (ii) $175,000,000 on October 1, 2014; provided that no such reduction to the Revolving Credit Commitment shall be required on the foregoing dates to the extent that the Revolving Credit Commitment has been already reduced to, or below, the applicable 

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amount set forth above pursuant to Sections 2.5(a) or 2.5(e).  The reductions of the Revolving Credit Commitment shall be applied to the Revolving Credit Commitment of each Revolving Credit Lender according to its Revolving Credit Commitment Percentage.  All Commitment Fees accrued until the effective date of any termination of the Revolving Credit Commitment shall be paid on the effective date of such termination.”
“(e)    Mandatory Reduction.     The Revolving Credit Commitment shall be automatically and permanently reduced pursuant to, and in accordance with, Section 4.4(b)(vi) in connection with the Pearland Sale-Leaseback.”
(d)    Section 4.4 of the Credit Agreement is hereby amended by 
(i)    inserting the following sentence at the end of subsection (b)(ii) thereof:
“Notwithstanding anything to the contrary in this Section 4.4(b)(ii), at any time on or before October 1, 2014, the Borrower shall have the right ,within five (5) Business Days after the date of receipt of Net Cash Proceeds from any Equity Issuance, to apply all or any portion of such Net Cash Proceeds to permanently reduce the Revolving Credit Commitment pursuant to Section 2.5(a); provided that, to the extent that the Borrower elects to apply less than fifty percent (50%) of Net Cash Proceeds from any such Equity Issuance to permanently reduce the Revolving Credit Commitment pursuant to Section 2.5(a), the difference between fifty percent (50%) of Net Cash Proceeds from any such Equity Issuance and the amount applied to permanently reduce the Revolving Credit Commitment pursuant to Section 2.5(a) shall be subject to the mandatory prepayment set forth in this Section 4.4(b)(ii).”
(ii)    deleting subsection (b)(iii) in its entirety and replacing it with the following:
“(iii)    Asset Dispositions.  The Borrower shall make mandatory principal prepayments of the Loans in the manner set forth in clause (vi) below in amounts equal to one hundred percent (100%) of the aggregate Net Cash Proceeds from any Asset Disposition (other than any Asset Disposition permitted pursuant to, and in accordance with, Section 11.5).  Such prepayments shall be made within three (3) Business Days after the date of receipt of the Net Cash Proceeds of any such Asset Disposition by such Credit Party or any of its Subsidiaries; provided that, other than with respect to the Net Cash Proceeds of the Pearland Sale-Leaseback and [***], so long as no Event of Default has occurred and is continuing, no prepayment shall be required under this Section 4.4(b)(iii) to the extent that such Net Cash Proceeds are committed to be reinvested pursuant to a legally binding agreement in assets used or useful in the business of the Borrower and its Subsidiaries within nine (9) months after receipt of such Net Cash Proceeds and are thereafter actually reinvested in assets used or useful in the business of the Borrower and its Subsidiaries within twelve (12) months after receipt of such Net Cash Proceeds by such Credit Party or such Subsidiary; provided further that any portion of such Net Cash Proceeds not committed to be reinvested pursuant to a legally binding agreement within such nine (9) month period or actually reinvested within such twelve (12) month period shall be prepaid in accordance with this Section 4.4(b)(iii) on or before the last day of such applicable period.”
(iii)    inserting the following sentence at the end subsection (b)(vi) thereof:

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“Notwithstanding anything to the contrary in this Section 4.4(b)(vi), within three (3) Business Days after the date of receipt of Net Cash Proceeds attributable to: 
(A)     the Pearland Sale-Leaseback, one hundred percent (100%) of the aggregate Net Cash Proceeds from such sale shall be applied as follows: (1) first, to repay the Revolving Extensions of Credit pursuant to Section 2.4(d)(ii), with a corresponding reduction in the Revolving Credit Commitment pursuant to Section 2.5(e) and (2) second, to the extent of any excess, to reduce in inverse order to maturity the remaining scheduled principal installments of the Term Loan, pursuant to Section 4.3; and 
(B)     [***]
(e)    Section 7.24 of the Credit Agreement is hereby amended by deleting such Section in its entirety and replacing it with the following:
SECTION 7.24   Investment Bankers’ and Similar Fees.  No Credit Party has any obligation to any Person in respect of any finders’, brokers’, investment banking or other similar fee in connection with any of the Transactions or the Datascope Acquisition.
(f)    Section 9.12(b) of the Credit Agreement is hereby amended by deleting such Section in its entirety and replacing it with the following:
“Revolving Credit Loans, Swingline Loans or any Letter of Credit.  The Borrower shall use the proceeds of the Revolving Credit Loans, Swingline Loans or any Letter of Credit (i) to finance a portion of the consideration payable in connection with the consummation of the transactions contemplated pursuant to the Thomas Purchase Agreement, (ii) to finance a portion of the consideration payable in connection with the consummation of the transactions contemplated pursuant to the Datascope Acquisition Agreement, (iii) to refinance certain Indebtedness of the Borrower and its Subsidiaries (after giving effect to the Thomas Acquisition and Datascope Acquisition) including, without limitation, the Existing Credit Agreement and (iv) for working capital and general corporate purposes of the Borrower and its Subsidiaries, including the payment of certain fees and expenses incurred in connection with the Transactions, the Datascope Acquisition, the Pearland Sale‐Leaseback, [***] and this Agreement.”
(g)    Section 10.1 of the Credit Agreement is hereby amended by deleting the table contained therein in its entirety and replacing it with the following:

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	Period
	Maximum Ratio

	First Amendment Effective Date through fiscal quarter ending December 31, 2013
	4.75 to 1.00

	Fiscal quarter ending March 31, 2014
	4.00 to 1.00

	Fiscal quarter ending June 30, 2014
	3.75 to 1.00

	Fiscal quarter ending September 30, 2014
	3.50 to 1.00

	Fiscal quarter ending December 31, 2014
	3.25 to 1.00

	Each fiscal quarter ending during Fiscal Year 2015
	3.00 to 1.00

	Each fiscal quarter ending during Fiscal Year 2016
	2.75 to 1.00

	Each fiscal quarter thereafter
	2.50 to 1.00

(h)    Section 11.3 of the Credit Agreement is hereby amended by (i) re-numbering the existing subsection “(h)” as subsection “(i)” and (ii) inserting the following new subsection (h) therein:
“(h)    the Datascope Acquisition; and”
(i)    Section 11.5 of the Credit Agreement is hereby amended by (i) re-numbering the existing subsection “(j)” as subsection “(l)” and (ii) inserting the following new subsections (j) and (k) therein:
“(j)    the sale of the Pearland Facility pursuant to the Pearland Sale-Leaseback;
(k)    [***]; and”
(j)    Section 11.12 of the Credit Agreement is hereby amended by adding the following at the end of the last sentence thereof:
“provided, however, the Pearland Sale‐Leaseback shall not be subject to the restrictions set forth in this Section 11.12.”  
Section 3.    Conditions of Effectiveness.  The effectiveness of this Amendment shall be subject to the satisfaction of each of the following conditions precedent (provided that the parties hereto hereby agree that the amendment to Section 10.1, as set forth in Section 2(g) of this Amendment, shall be effective as of September 30, 2013):
(a)    Executed Amendment.  The Administrative Agent shall have received counterparts of this Amendment executed by the Borrower, each other Credit Party, the Administrative Agent and the Lenders;
(b)    Officer’s Certificate.  The Borrower shall have delivered to the Administrative Agent a certificate, in form and substance satisfactory to the Administrative Agent, from a Responsible Officer (solely in its capacity as a Responsible Officer) of the Borrower certifying that (i) since the 

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date of execution of the Datascope Acquisition Agreement, there has not occurred a Material Adverse Effect, (ii) the conditions set forth in Section 3 of this Amendment have been satisfied and (iii) the representations and warranties contained in Section 4 of this Amendment are true and correct;
(c)    Certificates of Secretary and Organizational Documents.  The Borrower shall have delivered to the Administrative Agent, with respect to each Credit Party, a certificate of a Responsible Officer of each such Person certifying as to the incumbency and genuineness of the signature of each officer of such Person executing this Amendment and certifying that attached thereto is a true, correct and complete copy of:
(A)  (1) articles or certificate of incorporation or formation of such Person and all amendments thereto, certified as of a recent date by the appropriate Governmental Authority in its jurisdiction of incorporation or formation and (2) the bylaws or other governing document of such Person as in effect on the First Amendment Effective Date or, in each case, that no changes have been made to the articles or certificate of incorporation or formation and/or bylaws or other governing document, as applicable, since the same was delivered pursuant to Section 6.1(b)(ii) of the Credit Agreement;
 (B)     resolutions duly adopted by the board of directors (or other governing body) of such Person authorizing the transactions contemplated hereunder and the execution, delivery and performance of this Amendment; and 
(C)     certificates as of a recent date of the good standing of each such Person under the laws of its jurisdiction of incorporation or formation and, to the extent requested by the Administrative Agent, each other jurisdiction where such Person is qualified to do business;
(d)    Opinions of Counsel.  The Administrative Agent shall have received favorable opinions of counsel to the Credit Parties addressed to the Administrative Agent and the Lenders with respect to the Credit Parties, this Amendment and the transactions contemplated hereby and such other matters as the Lenders shall request;
(e)    Collateral.
(i)    Filings and Recordings.  The Administrative Agent shall have received all filings and recordations that are necessary to perfect the security interests of the Administrative Agent, on behalf of the Secured Parties, in all assets acquired pursuant to the Datascope Acquisition, including, without limitation, all intellectual property  acquired pursuant to the Datascope Acquisition, and the Administrative Agent shall have received evidence reasonably satisfactory to the Administrative Agent that upon such filings and recordations such security interests constitute valid and perfected first priority Liens thereon (subject to Permitted Liens);
(ii)    Lien Searches.  The Administrative Agent shall have received the results of a Lien search (including a search as to intellectual property matters), in form and substance reasonably satisfactory thereto, made against the assets acquired pursuant to the Datascope Acquisition under the Uniform Commercial Code (or applicable judicial docket) as in effect in each jurisdiction in which filings or recordations under the Uniform Commercial Code should be made to evidence or perfect security interests in all such assets, indicating among 

9

other things that each such asset is free and clear of any Lien (except for Permitted Liens); and
(iii)    Lien Releases.  To the extent that the results of any Lien search described in clause (ii) above identify any Lien (except for any Permitted Lien) on any assets acquired pursuant to the Datascope Acquisition, the Administrative Agent shall have received all filings and recordations necessary to evidence that such Lien has been discharged and released;
(f)    Datascope Acquisition.  
(i)    The Administrative Agent shall have received a true, correct and fully executed copy of the Datascope Acquisition Agreement, together with all of the exhibits, schedules and annexes thereto, all of which shall be in form and substance reasonably satisfactory to the Administrative Agent;
(ii)    The Datascope Acquisition shall be consummated in accordance with the Datascope Acquisition Agreement without giving effect to any amendments, modifications or waivers thereof that are materially adverse to the interests of the Lenders (as reasonably determined by the Administrative Agent), unless approved by the Administrative Agent;
(iii)    Each of the representations made by Datascope Corp., a Delaware corporation, or its Subsidiaries or Affiliates or with respect to the assets to be acquired pursuant to the Datascope Acquisition Agreement that are material to the interests of the Lenders are accurate, but only to the extent that, in the event of a breach of such representations, the Borrower or its Affiliates have the right to terminate their respective obligations under the Datascope Acquisition Agreement or otherwise decline to close the Datascope Acquisition as a result of a breach of any such representations or any such representations not being accurate (determined without regard to any notice requirement); and
(iv)    The aggregate purchase price for the Datascope Acquisition shall not exceed $27,500,000;
(g)    Governmental and Third Party Approvals.  The Credit Parties shall have received all governmental, shareholder and third party consents and approvals necessary in connection with this Amendment and the transactions contemplated hereby and all such governmental, shareholder and third party consents and approvals shall be in full force and effect;
(h)    PATRIOT Act.  At least five (5) Business Days prior to the date of effectiveness of this Amendment, the Borrower and each of the Subsidiary Guarantors shall have provided to the Administrative Agent and the Lenders the documentation and other information requested by the Administrative Agent in order to comply with requirements of the Act, applicable “know your customer” and anti-money laundering rules and regulations, but only to the extent that such documentation or other information was requested at least ten (10) Business Days prior to such date;
(i)    Notice of Borrowing.  The Administrative Agent shall have received a Notice of Borrowing from the Borrower in accordance with Section 2.3(a) of the Credit Agreement; 

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(j)    Schedule 1.2 to Credit Agreement.  The Administrative Agent shall have received Schedule 1.2 to the Credit Agreement in form and substance reasonably satisfactory to the Administrative Agent; and
(k)    Payment of Fees.  The Borrower shall have paid (A) to the Arranger and the Administrative Agent, for their own respective accounts, fees in the amounts and at the times specified in the separate fee letter agreement dated September 3, 2013 among the Borrower, the Administrative Agent and the Arranger, (B) all fees, charges and disbursements of counsel to the Administrative Agent (directly to such counsel if requested by the Administrative Agent) to the extent accrued and unpaid prior to or on the First Amendment Date, plus such additional amounts of such fees, charges and disbursements as shall constitute its reasonable estimate of such fees, charges and disbursements incurred or to be incurred by it through the closing proceedings (provided that such estimate shall not thereafter preclude a final settling of accounts between the Borrower and the Administrative Agent) and (C) to any other Person such amount as may be due thereto in connection with the transactions contemplated hereby, including all taxes, fees and other charges in connection with the execution, delivery, recording, filing and registration of any of the Loan Documents.
Section 4.    Representations and Warranties.  The Borrower and each Subsidiary Guarantor hereby represents and warrants to the Administrative Agent and the Lenders that:
(a)    both before and after giving effect to this Amendment, the Datascope Acquisition and any Indebtedness incurred in connection herewith or therewith, each of the representations and warranties set forth in the Credit Agreement and the other Loan Documents is true, correct and complete in all material respects as of the date hereof, except for any representation and warranty made as of an earlier date, which representation and warranty shall remain true, correct and complete as of such earlier date; provided, that any representation or warranty that is qualified by materiality or by reference to Material Adverse Effect shall be true, correct and complete in all respects as of the date hereof;
(b)    except to the extent a Default or Event of Default may have occurred under Section 12.1(d) of the Credit Agreement as a result of any breach of Section 10.1 of the Credit Agreement prior to giving effect to this Amendment, no Default or Event of Default has occurred or is continuing both before and after giving effect to this Amendment, the Datascope Acquisition and any Indebtedness incurred in connection herewith or therewith;
(c)    it has the right, power and authority and has taken all necessary corporate and other action to authorize the execution, delivery and performance of this Amendment and each of the other documents executed in connection herewith to which it is a party in accordance with their respective terms and the transactions contemplated hereby; and
(d)    this Amendment and each other document executed in connection herewith has been duly executed and delivered by the duly authorized officers of the Borrower and each Subsidiary Guarantor, and each such document constitutes the legal, valid and binding obligation of the Borrower and each Subsidiary Guarantor, enforceable in accordance with its terms, except as such enforceability may be limited by Debtor Relief Laws from time to time in effect which affect the enforcement of creditors’ rights in general and the availability of equitable remedies.
Section 5.    Limited Effect.  Except as expressly provided herein, the Credit Agreement and the other Loan Documents shall remain unmodified and in full force and effect.  Except as expressly provided herein, this Agreement shall not be deemed (a) to be a waiver of, or consent to, or a modification or amendment 

11

of, any other term or condition of the Credit Agreement or any other Loan Document, (b) to prejudice any right or rights which the Administrative Agent or the Lenders may now have or may have in the future under or in connection with the Credit Agreement or the other Loan Documents or any of the instruments or agreements referred to therein, as the same may be amended, restated, supplemented or modified from time to time, (c) to be a commitment or any other undertaking or expression of any willingness to engage in any further discussion with the Borrower, any of its Subsidiaries or any other Person with respect to any waiver, amendment, modification or any other change to the Credit Agreement or the Loan Documents or any rights or remedies arising in favor of the Lenders or the Administrative Agent, or any of them, under or with respect to any such documents or (d) to be a waiver of, or consent to or a modification or amendment of, any other term or condition of any other agreement by and among the Borrower or any of its Subsidiaries, on the one hand, and the Administrative Agent or any other Lender, on the other hand.  References in the Credit Agreement to “this Agreement” (and indirect references such as “hereunder”, “hereby”, “herein”, “hereof” or other words of like import) and in any Loan Document to the “Credit Agreement” shall be deemed to be references to the Credit Agreement as modified hereby.
Section 6.    Acknowledgement and Reaffirmation.  Each Borrower and each Subsidiary Guarantor (a) agrees that the transactions contemplated by this Amendment shall not limit or diminish the obligations of such Person under, or release such Person from any obligations under, the Credit Agreement, the Guaranty Agreement, the Collateral Agreement and each other Security Document to which it is a party, (b) confirms and reaffirms its obligations under the Credit Agreement, the Guaranty Agreement, the Collateral Agreement and each other Security Document to which it is a party and (c) agrees that the Credit Agreement, the Guaranty Agreement, the Collateral Agreement and each other Security Document to which it is a party remain in full force and effect and are hereby reaffirmed.
Section 7.    Costs, Expenses and Taxes.  The Borrower agrees to pay on demand all reasonable out-of-pocket costs and expenses of the Administrative Agent in connection with the preparation, execution, delivery, administration, modification and amendment of this Amendment and the other instruments and documents to be delivered hereunder, including, without limitation, the reasonable fees and out-of-pocket expenses of counsel for the Administrative Agent with respect thereto and with respect to advising the Administrative Agent as to its rights and responsibilities hereunder and thereunder.
Section 8.    Execution in Counterparts.  This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Amendment by facsimile or in electronic (i.e., “pdf” or “tif”) format shall be effective as delivery of a manually executed counterpart of this Amendment.
Section 9.    Governing Law.  This Amendment and any claim, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Amendment and the transactions contemplated hereby and thereby shall be governed by, and construed in accordance with, the law of the State of New York.
Section 10.    Entire Agreement.  This Amendment and the other Loan Documents, and any separate letter agreements with respect to fees payable to the Administrative Agent, the Issuing Lender, the Swingline Lender and/or the Arranger, constitute the entire agreement among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof.
[Signature Pages Follow]

12

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective officers thereunto duly authorized, as of the date first above written.

MERIT MEDICAL SYSTEMS, INC., as Borrower
 
By:  /s/Fred P. Lampropoulos            
Name:    Fred P. Lampropoulos 
Title:  Chief Executive Officer
MERIT HOLDINGS, INC., as Subsidiary Guarantor
 
By:  /s/Fred P. Lampropoulos            
Name:     Fred P. Lampropoulos 
Title:  President     

MERIT SENSOR SYSTEMS, INC., as Subsidiary Guarantor

By:  /s/Fred P. Lampropoulos            
Name:     Fred P. Lampropoulos 
Title:  President 
MERIT SERVICES, INC., as Subsidiary Guarantor

By:  /s/Fred P. Lampropoulos            
Name:     Fred P. Lampropoulos 
Title:  President 
BIOSPHERE MEDICAL, INC., as Subsidiary Guarantor

By:  /s/Fred P. Lampropoulos            
Name:     Fred P. Lampropoulos 
Title:  President 
BSMD VENTURES, INC., as Subsidiary Guarantor

By:  /s/Fred P. Lampropoulos            
Name:     Fred P. Lampropoulos 
Title:  President 

Merit Medical Systems, Inc.
First Amendment to the Amended and Restated Credit Agreement
Signature Page

BIOSPHERE MEDICAL JAPAN, INC., as Subsidiary Guarantor

By:  /s/Fred P. Lampropoulos            
Name:     Fred P. Lampropoulos 
Title:  President 
THOMAS MEDICAL PRODUCTS, INC., as Subsidiary Guarantor

By:  /s/Fred P. Lampropoulos            
Name:     Fred P. Lampropoulos 
Title:  President 

Merit Medical Systems, Inc.
First Amendment to the Amended and Restated Credit Agreement
Signature Page

ADMINISTRATIVE AGENT AND LENDERS:

WELLS FARGO BANK, NATIONAL ASSOCIATION, 
as Administrative Agent, Swingline Lender, Issuing Lender and Lender

By:  /s/ Richard Lambert                
Name:  Richard Lambert
Title:  Senior Vice President

Merit Medical Systems, Inc.
First Amendment to the Amended and Restated Credit Agreement
Signature PagePGI 2013.9.30 EXHIBIT 10.3

EXHIBIT 10.3

SIXTH AMENDMENT TO LEASE AGREEMENT

THIS SIXTH AMENDMENT TO LEASE AGREEMENT (the “Sixth Amendment”), is made this 23 day of September, 2013, by TERMINUS VENTURE TIOO LLC, a Delaware limited liability company, as successor to 3280 PEACHTREE I LLC. a Georgia limited liability company (as "Landlord") and AMERICAN TELECONFERENCING SERVICES, LTD. D/B/A PREMIERE GLOBAL SERVICES (as “Tenant").

WITNESSETH:

WHEREAS, Landlord and Tenant did enter into that certain Lease Agreement, dated as of October 28, 2005 (the "Original  Lease"), for space (consisting of all of the 9th floor, containing 23,684 square feet of Rentable Floor Area) in that certain building located at 3280Peachtree Road, Atlanta. Georgia (the "Building"), as such space is more particularly described in the Original Lease.

WHEREAS, Landlord and Tenant did enter into that certain First Amendment to Lease Agreement, dated as of July 31, 2006 (the "First Amendment").

WHEREAS, Landlord and Tenant did enter into that certain Second Amendment to Lease Agreement, dated as of March 15, 2007 (the “Second Amendment”).

WHEREAS. Landlord and Tenant did enter into that certain Third Amendment to Lease Agreement, dated as of June 3, 2008 (the "Third Amendment”)

WHEREAS, Landlord and Tenant did enter into that certain Fourth Amendment to Lease Agreement, dated as of August 27, 2008 (the "Fourth Amendment").

WHEREAS, Landlord and Tenant did enter into that certain Fifth Amendment to Lease Agreement, dated as of October 15, 2008 (the “Fifth Amendment").

WHEREAS, the Original Lease, as modified by the First Amendment, Second Amendment, Third Amendment, Fourth Amendment and Fifth Amendment, is herein collectively referred to as the Lease.

WHEREAS, Landlord and Tenant desire to modify and amend the Lease, in the manner and for the purposes herein set forth.

NOW, THEREFORE, for and in consideration of the mutual premises, and for Ten and No/100 Dollars ($10.00) and other good and valuable consideration, paid by the parties hereto to one another, the receipt and sufficiency of which are acknowledged by the parties hereto, the parties hereto hereby covenant and agree as follows:

1.   Defined Terms.  All capitalized terms not defined herein shall have the same meaning as set forth in the Lease.

2.   Reduction in Size of Demised Premises.  Effective as of the earliest date to occur of (i) the date Tenant occupies the Sixth Amendment 8th Floor Expansion Space for the conduct of Tenant's business; or (ii) March 1, 2014 (provided, however, such March I date shall be

extended one day for each day that the completion of Tenant's improvements and alterations to the Sixth Amendment 8th Floor Expansion Space is delayed beyond March 1, 2014, due to force majeure or by any act or omission of Landlord or its agents, contractors or employees and Tenant provides notice to Landlord of the existence and nature or cause of any such delay, on a reasonably prompt basis) (the "6th Amendment Commencement Date"), Tenant agrees to deliver to Landlord the portion of the Demised Premises located on the Seventh Floor Space (as defined in the Fifth Amendment), consisting of 9,898 square feet of Rentable Floor Area in accordance with the terms of Section 32 of the Lease.  In the event Tenant fails to deliver to Landlord the 7th Floor Reduction Premises on or before the 6th Amendment Commencement Date Tenant shall become a tenant-at-sufferance with respect to the Seventh Floor Space and the terms of the Lease relating to holdover shall be in effect.  From and after the 6th 

Amendment Commencement Date, the Seventh Floor Space shall no longer be deemed a part of the Demised Premises under the Lease.

3.   Increase in Size of Demised Premises: Delivery Requirements.  Landlord hereby leases and rents to Tenant and Tenant hereby leases and rents from Landlord, an additional 15,866 square feet of Rentable Floor Area on the eighth (8th) floor of the Building (the "Sixth Amendment 8th Floor Expansion Space"), known as "Suite 800", as shown on Exhibit "A", attached hereto and by this reference incorporated herein.  Landlord and Tenant acknowledge and agree that as of the 6th Amendment Date Commencement Date, the incremental increase in the Rentable Floor Area of the Demised Premises shall be 5,968 square feet (the "Incremental Increase Space"), and the square feet of Rentable Floor Area of the entire Demised Premises, which was 31,502 square feet of Rentable Floor Area, shall be 37,470 square feet of Rentable Floor Area.  The Sixth Amendment 8th Floor Expansion Space shall be and be deemed to be a part of the Demised Premises leased under the Lease, on the terms set forth therein, except to the extent of the specific terms as set forth in this Sixth Amendment.

Subject to gaining possession from the current tenant of the Sixth Amendment 8th Floor Expansion Space, Landlord agrees to deliver the Sixth Amendment 8th Floor Expansion Space to Tenant on or before November 1, 2013 (the "Delivery Date"), in its current "as is, where is" condition, except to the best of Landlord's knowledge, information, and belief: (i) the Sixth Amendment 8th Floor Expansion Space was code compliant when it received its current certificate of occupancy; (ii) all building systems serving the Sixth Amendment 8th Floor Expansion Space will be in good working order, (iii) the Sixth Amendment 8th Floor Expansion Space will be free of prior occupants' personal property, (iv) the common areas on the 8th floor of the Building shall be in compliance with by any applicable governmental requirements; and (v) the previous tenant's cabling and wiring will be uncut in the LAN room and labeled in some traceable manner from previous tenant's patch panels inside their LAN Room and disconnected or uncut as close as possible to each face plate at each drop location (office, conference room and cubicles).  Landlord, to the extent required in order for Tenant to obtain a Certificate of Occupancy for the Sixth Amendment 8th Floor Expansion Space, shall make any repairs and improvements to the Sixth Amendment 8th Floor Expansion Space and to the common areas on the 8th floor of the Building to comply with items (i) through (iv) of this Paragraph 3.

In the event the De livery Date does not occur on or before November 1, 2013, except for a delay caused by any act or omission of Tenant or its agents, contractors or employees, the 6th Amendment Date Commencement Date shall be extended one (1) day for each day of delay.

Additionally, in the event Land lord fails to deliver the Sixth Amendment 8th Floor Expansion Space to Tenant in its as is, where is condition on or before April 30, 2014, and such failure is not due to force majeure or delays caused by Tenant or its agents, contractors or employees, then either party will be entitled to terminate this Amendment with written notice to the other party, and neither party will have any further liability under this Amendment.  The parties acknowledge and agree that "force  majeure''  as  used herein shall not mean Landlord's failure to obtain occupancy of the Sixth Amendment 8th Floor Expansion Space from the prior tenant.

4.   Expansion Base Rental Due from Tenant.  (a) Base Rental shall be due from Tenant, and Tenant hereby covenants and agrees to pay Base Rental, as follows:
	
		
	(a)         For the Incremental Increase Space in the Sixth Amendment 8th Floor Expansion Space

	6th Amendment Commencement Date - February 28, 2015
	$22.00 per square foot of Rentable Floor Area

	March 1, 2015- February 29, 2016
	$22.61 per square foot of Rentable Floor Area

	March 1, 2016 - February 28, 2017
	$23.23 per square foot of Rentable Floor Area

	March 1, 2017 - February 28, 2018
	$23.87 per square foot of Rentable Floor Area

	March 1, 2018 - August 31, 2018
	$24.52 per square foot of Rentable Floor Area

(b) For the balance of the Sixth Amendment 8th Floor Expansion Space (i.e., 9,898 square feet of Rentable Floor Area), Tenant shall continue to pay to Landlord Base Rental at the rates provided in the Fifth Amendment for the Seventh Floor Space.

(c) Notwithstanding anything contained herein to the contrary, Landlord agrees to abate certain installments of monthly Base Rental and Tenant's Forecast Additional Rental coming due and payable under the Lease with respect to the Incremental Increase Space only commencing on the 6th Amendment Commencement Date in the amount of the monthly Base Rental and Tenant's Forecast Additional Rental payments due each month with respect to the Incremental Increase Space for months 1 through 6 (inclusive) of the Lease Term following the 6th Amendment Commencement Date.  Notwithstanding anything in this section to 

the contrary, Tenant shall have no right to any such abatement of Base Rental and Tenant's Forecast Additional Rental at any time after an event of default has occurred, is continuing, and the Lease has been terminated due to such default by Tenant. then Tenant shall, promptly upon demand, pay Landlord an amount equal to the unamortized amount of all Base Rental, Tenant's Forecast Additional Rental and Tenant's Additional Rental theretofore abated, amortized without interest on a straight line basis over the Lease Term, from the date each such installment of Base Rental, Tenant's Forecast Additional Rental and Tenant's Additional Rental was originally due to the date of payment.  Such obligation of Tenant to pay abated Base Rental, Tenant's Forecast Additional Rental and Tenant's Additional Rental upon an uncured event of default shall be independent of and in addition to Landlord's other rights and remedies available under the Lease or at law or in equity.

5.   Additional Rental.   Tenant's Additional Rental and Tenant's Forecast Additional Rental shall be charged to and be due and payable from Tenant  with respect to the Sixth Amendment 8th Floor Expansion Space and the Demised Premises leased under the Lease, for the Term, on the same terms and conditions as is set forth in the Lease.

6.   Tenant Improvement Allowance and Other Improvements.  (a) Landlord shall provide to Tenant an allowance for the Incremental Increase Space of Thirty-three and No/100 Dollars ($33.00) per square foot of Rentable Floor Area therein, or $196,944.00 in the aggregate (the "Incremental  Increase Space Allowance").  Tenant shall have the right to use the Incremental Increase Space Allowance on any portion of the Demised Premises; provided, however that any portion of the Incremental Increase Space Allowance which remains unused as of December 31, 2014 shall be retained by Landlord.  All such work shall be performed in accordance with the terms of the work letter attached as Exhibit "C" to this Sixth Amendment (the "6th Amendment Work Letter").  Tenant's build out of and improvements of the Sixth Amendment 8th Floor Expansion Space shall be performed in accordance with and subject to the terms of the 6th Amendment Work Letter.  The Incremental Increase Space Allowance shall be paid to Tenant within thirty (30) days after Tenant has presented to Landlord reasonable evidence of any hard or soft costs incurred by Tenant and relating to improvements or alterations made or being made to the Demised Premises (including, but not limited to, the Sixth Amendment 8th Floor Expansion Space or any other portion of the Demised Premises in the Building), including, but not limited to, any such costs incurred prior to the date of this Sixth Amendment.  Tenant shall have the right to require payments of the Incremental Increase Space Allowance on a monthly basis.

(b) Landlord has previously approved Tenant's installation of carpeting within the internal stairwell # 1 (the western most stairwell located adjacent to the restrooms) between the 7th and 8th Floors of the Building at Tenant's sole cost and expense.  The installation of the carpeting between the 7th and 8th Floors of the Building shall be in accordance with the specifications for such carpet delivered to Landlord prior to the date of the Sixth Amendment and shall be subject to all applicable building codes, regulations and governmental approvals required for the installation of such carpeting, including, but not limited to approval of the Fire Marshall having jurisdiction over the Building.  In addition, Landlord has approved Tenant's right to install on the floors where Tenant occupies a full floor, at Tenant's sole cost and expense, building card access readers with the Tenant's logo imprinted on them in the form and style approved by Landlord.

(c) For so long as Tenant or Tenant's parent, subsidiary, or affiliate occupies the entire 8th Floor of the Building, Tenant shall be permitted to install on the elevator button panels on the interior of the elevators a signage button adjacent to the 8th Floor elevator button with Tenant's name or logo imprinted on such signage button, provided that such signage complies with all Legal Requirements and has been approved by Landlord.

7.   Term.  The Lease Term for the Sixth Amendment 8th Floor Expansion Space shall be coterminous with the Lease Term under the Lease, commencing on the 6th Amendment Commencement Date and ending, unless sooner terminated, extended or renewed in accordance with the terms of the Lease, on August 31, 2018.

8.   Parking: Parking Permits.  In addition to the parking permits and parking rights provided to Tenant under the Lease, in connection with and as a part of the lease by Tenant of

the Sixth Amendment 8th Floor Expansion Space, effective as of the date this Sixth Amendment i s executed by Landlord and Tenant, Tenant shall be entitled to be provided (i) twelve (12) additional Parking Permits, for the "Tenant Parking" area of the Building's parking facilities' and (ii) twenty (20) additional Parking Permits for the parking facilities located on the Grand Hyatt property located adjacent to the Building as follows:

(a)  One hundred percent (100%) of such Parking Permits provided to Tenant within the "Tenant Parking'' area of the Building's parking facilities with respect to the Sixth Amendment 8th Floor Expansion Space will entitle each holder thereof to park in an unassigned parking space in the "Tenant Parking" area in the Building's parking facilities, and the initial fee for such 

Parking Permits will be Seventy-Eight and 54/100 Dollars ($78.54) per Parking Permit per month, such fee subject to increase as provided below.

(b)       With respect to the additional Parking Permits for the parking facilities located on the Grand Hyatt property adjacent to the Building, Tenant agrees to pay the Parking Operator for the Grand Hyatt property Eighty Five and No/1 00 Dollars ($85.00) per Parking Permit per month through the last day of the Lease Term.  Tenant recognizes and agrees that the hours for parking within the Grand Hyatt property are 6:00 a.m. to 7:00 p.m. Monday-Friday and on weekends.  Tenant shall have the right to allow any of Tenant's employees using the parking facilities located on the Grand Hyatt property to re-locate to the unassigned parking spaces located in the "Tenant Parking" area in the Building's parking facilities between the hours of 6:30 p.m. and 7:00 p.m. Monday-Friday and on weekends at no additional charge to Tenant; provided, however, Landlord reserves the right to terminate such right by providing written notice of termination of such right to Tenant not less than thirty (30) days prior to such termination.

Tenant agrees to pay to Landlord (or to Landlord's Parking Operator as  provided below, if applicable) the parking fees for all such Parking Permits on a monthly basis, together with each monthly installment of Base Rental, commencing on the Rental Commencement Date and thereafter throughout the Lease Term.  The rates for all Parking Permits within the Building parking facilities will increase as of .January 1, 2014, and as of the first day of each succeeding calendar year, at the rate of three percent (3%) per year on a compounded basis; provided, however, that every three (3) years, starting with calendar year 2015, the cost due for the Parking Permits within the Building shall be adjusted to the "Market Parking Rate", as described in Article 55(e) of the Lease.  Tenant will have the right to assign any of its Parking Permits within the Building parking facilities only to any permitted assignees or sublessecs under this Lease.

9.   No Additional Expansion Rights.  Notwithstanding anything contained in the Lease to the contrary, from and after the date of this Sixth Amendment, Tenant shall have no additional expansion rights, rights to negotiate, options, rights of first refusal or rights or first offer remaining under the Lease and all such rights or options referenced in the Lease are null and void and of no further force or effect.

10.   Demolition of Gym Area of Demised Premises.  Notwithstanding anything contained in the Lease to the contrary, Tenant shall not be required to return the gym area (fitness area and the dedicated bathroom/shower) constructed by Tenant within the Demised Premises on the 9th Floor of the Building to an office condition upon the expiration of the Lease Term.  Tenant shall be responsible, at Tenant's sole cost and expense for demolishing those portions of the gym area

as are more particularly shown and described on Exhibit "C-2", including removal of lockers, flooring, the mirror wall, the bathroom faucets, and shower facilities.  Such demolition shall also include removal of the plumbing (including fixtures) and restoration of the cores and removal of all non-Base Building pipes up to the point of origination from the Base Building stack.  In lieu of Tenant performing this demolition work, Landlord will at Tenant's request, obtain three (3) separate quotes for the foregoing demolition and Tenant shall provide to Landlord funds in the amount of the lowest bid on or prior to thit1y (30) days before the end of the Lease Term.  For the avoidance of doubt, the term "demolish," as used in this Section 10 shall mean that Tenant shall return said portions of the gym area to the Base Building condition by removing the aforementioned finishes, but surrendering the walls and ceilings in their current "as is, where is" condition.

11.   Consent of Guarantor.  Tenant shall cause the guarantor of the Original Lease to execute and deliver to Landlord the Acknowledgement, Consent and Reaffirmation of Guarantor of Lease, attached hereto as Exhibit "B", by this reference incorporated herein, with the execution and delivery of this Sixth Amendment.  The delivery of this document is a material inducement to Landlord, without which Landlord would not have executed and delivered this Sixth Amendment.

12.   Brokers.  COUSINS PROPERTIES INCORPORATED ("CPI") REPRESENTED LANDLORD IN THIS TRANSACTION.  COLLIERS INTERNATIONAL - ATLANTA ("CC'") REPRESENTED TENANT IN THIS TRANSACTION.  CPI AND CC ARE ENTITLED TO A LEASING COMMISSION FROM LANDLORD BY VIRTUE OF THIS SIXTH AMENDMENT, WHICH LEASING COMMISSION SHALL BE PAID BY LANDLORD TO SAID BROKERS IN ACCORDANCE WITH THE TERMS OF SEPARATE AGREEMENTS BETWEEN LANDLORD AND CPI AND CC, RESPECTVELY.  Tenant hereby authorizes Broker(s) and Landlord to identify Tenant as a tenant of the Building and to state the amount of space leased by Tenant in advertisements and promotional material s relating to the Building.  Tenant represents and warrants to Landlord that (except with respect to any Broker[s] identified hereinabove) no broker, agent, commission salesperson, or other person has represented Tenant in the negotiations for and procurement of this Sixth Amendment and that (except with respect to any Broker[s] identified hereinabove) no commissions, fees, or compensation of any kind are due and payable in connection herewith to any broker, agent, commission salesperson, or other person as a result of any act or agreement of Tenant.  Tenant agrees to indemnify and hold Landlord harmless from all loss, liability, damage, claim, judgment, cost or expense (including reasonable attorneys' fees and court costs) suffered or incurred by Landlord as a result of a breach by Tenant of the representation 

and warranty contained in the immediately preceding sentence or as a result of any claim for any fee, commission or similar compensation with respect to this Lease made by any broker, agent or finder (other than the  Broker[s) identified hereinabove) claiming to have dealt with Tenant, whether or  not such claim is meritorious.  Landlord represents and warrants to Tenant that (except with respect to any Broker[s] identified hereinabove) no broker, agent, commission salesperson, or other person has represented Landlord in the negotiations for and procurement of this Sixth Amendment and that (except with respect to any Broker[s] identified hereinabove) no commissions, fees, or compensation of any kind are due and payable in connection herewith to any broker, agent, commission salesperson, or other person as a result of any act or agreement of Landlord.  Landlord agrees to indemnify and hold Tenant harmless from all loss, liability,
damage, claim, judgment. cost or expense (including reasonable attorneys' fees and court costs) suffered or incurred by Tenant as a result of a breach by Landlord of the representation and warranty contained in the immediately preceding sentence or as a result of any claim for any fee, commission or similar compensation with respect to this Lease made by any broker, agent or finder (other than the Broker[s] identified hereinabove) claiming to have dealt with Landlord, whether or not such cl aim is meritorious.

13.   Rent from Real Property.  Landlord and Tenant agree that all rental payable by Tenant to Landlord, which includes all sums, charges, or amounts of whatever nature to be paid by Tenant to Landlord in accordance with the provisions of the Lease, shall qualify as "rents from real property" within the meaning of both Sections 512(b)(3) and 856(d) of the Internal Revenue Code of 1986, as amended (the "Code") and the U.S.  Department of Treasury Regulations promulgated thereunder (the "Regulations").  In the event that Landlord, in its reasonable discretion. determines that there is any risk that all or part of any rent shall not qualify as "rents from real property" for the purposes of Sections 512(b)(3) or 856(d) of the Code and the Regulations  promulgated  thereunder, Tenant agrees (i) to cooperate with Landlord, at Landlord's sole cost and expense, by entering into such amendment or amendments as Landlord reasonably determines will cause all rents to qualify as "rents from real property," and (ii) to permit an assignment of this Agreement; provided, however, that any adjustments required pursuant to this paragraph shall be made so as to produce the equivalent rental (in economic terms) payable prior to such adjustment and shall have no material adverse effect on Tenant.

14.   Unrelated Business Transaction Income.  If Landlord is advised by its advisors or otherwise determines that all or any portion of the monies paid by Tenant to Landlord hereunder are, or may be deemed to be, unrelated business income within the meaning of the United States Internal Revenue Code or regulations issued thereunder, then Tenant, at Landlord's sole cost and expense, shall execute documents or instruments reasonably necessary to effect an amendment or amendments, provided that no such amendment shall result in Tenant having to pay more money on account of its occupancy of the Premises under the terms of the Lease, as so amended, and provided further that no such amendment shall result in Tenant having greater obligations or receiving less services that it previously obligated for or entitled to receive under the Lease, or services of a lesser quality, other than to a de minimis extent.

Any services which Landlord is required to furnish pursuant to the provisions of the Lease may, at Landlord's option, be furnished from time to time, in whole or in part, by employees of Landlord or Landlord 's managing agent or its employees or by one or more third persons hired by Landlord or the Landlord 's managing agent.  Tenant agrees that upon Landlord 's written request it will enter into direct agreements with the Landlord's managing agent or other parties approved by Landlord for the furnishing of any such services previously required to be furnished by Landlord hereunder, in the form and content reasonably approved by Tenant, provided however that no such contract shall result in Tenant having to pay more money on account of its occupancy of the Premises under the terms of the Lease, and provided further that no such contract shall result in Tenant having greater obligations or receiving less services than it is presently obligated for or entitled to receive under the Lease or, services of a lesser quality.  Notwithstanding the foregoing to the contrary, in no event shall Landlord be released of its obligation to furnish services pursuant to the provisions of the Lease irrespective of whether Tenant enters into any agreements with employees of Landlord or Landlord 's managing agent or its employees or with one or more third persons hired by Landlord or the Landlord's managing agent.

15.   No Other Modifications.  Except as expressly modified herein, the Lease shall remain in full force and effect and as modified herein, is expressly ratified and confirmed by the parties hereto.  There is no default; event of default or failure to comply with the terms of the Lease by either party hereto.

16.   Legal Representatives. Successors and Assigns.  This Sixth Amendment shall be binding upon and shall inure to the benefit of Landlord and Tenant and their respective legal representatives, successors and assigns.

17.   Georgia Law.  This Sixth Amendment shall be construed and interpreted under the laws of the State of Georgia.

18.   Time of Essence.  Time is of the essence of this Sixth Amendment.

IN WITNESS WHEREOF. the parties have hereunto set their hands and seals as of the day, month and year first above written.

"LANDLORD":

TERMINUS VENTURE TIOO LLC,
  a Delaware limited liability company

By:    Terminus Office Holdings LLC,
a Delaware lin1ited liability company,
its Sole Member

		
	By:
	Cousins Properties Incorporated its Managing Member

By: /s/ Colin Connolly        
Name: Colin Connolly        
Title: SVP            

“TENANT”

AMERICAN TELECONFERENCING SERVICES, LTD.
D/B/A PREMIERE GLOBAL SERVICES

By: /s/ Douglas Noe                
Name: Douglas Noe                
Title: SVP, Corporate Controller and Treasurer

Attest: /s/ Eric Diethorn            
Name: Eric Diethorn                
Title: Director of Corporate Real Estate        

9

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