Document:

exhibit10_9.htm

    

    FIRST
      AMENDMENT TO TREASURY SECURED

    REVOLVING
      CREDIT AGREEMENT

    

    

    THIS
      FIRST AMENDMENT TO
      TREASURY SECURED REVOLVING CREDIT AGREEMENT (this
“Amendment”), is made effective as of August 31,
      2006,
      by and among NGP CAPITAL RESOURCES COMPANY, a Maryland
      corporation (the “Borrower”), the several banks and
      other financial institutions from time to time party hereto (collectively,
      the
“Lenders”) and SUNTRUST BANK, in its
      capacity as Administrative Agent for the Lenders (the
“Administrative Agent”).

    

    WITNESSETH:

    

    WHEREAS,
      the Borrower, the Lenders and the Administrative Agent are parties to a certain
      Treasury Secured Revolving Credit Agreement, dated as of August 31, 2006 (as
      amended, restated, supplemented or otherwise modified from time to time, the
      “Credit Agreement”; capitalized terms used herein and
      not otherwise defined shall have the meanings assigned to such terms in the
      Credit Agreement), pursuant to which the Lenders have made certain financial
      accommodations available to the Borrower;

     

    WHEREAS,
      the Borrower has requested that the Lenders and the Administrative Agent amend
      certain provisions of the Credit Agreement to clarify such provisions, and
      subject to the terms and conditions hereof, the Lenders are willing to do
      so;

     

    NOW,
      THEREFORE, for good and valuable consideration, the sufficiency and receipt
      of
      all of which are acknowledged, the Borrower, the Lenders and the Administrative
      Agent agree as follows:

    

    1.  Amendments.

     

    (a)  Section
      1.1 of the Credit Agreement is hereby amended by:

    

    
      	 	
              (i)           adding
                the following definitions of “Fair Market Value”, “Investment Grade
                Rating”, “Marketable Securities”, “Non-Investment Grade Rating” and “Total
                Asset Value” in appropriate alphabetical
                order:

            

    

    

     “Fair
      Market Value” shall mean, as of any date of determination, in the
      case of any Marketable Security, the value determined as the Fair Market Value
      thereof pursuant to the Investment Credit Agreement.

    

    “Investment
      Grade Rating” shall mean, with respect to any Marketable
      Securities, any actual or implied rating of such Marketable Securities which
      is
      at or above BBB- from S&P and at or above Baa3 from Moody’s.

    

    “Marketable
      Securities” shall mean (i) those certain 7.20% Senior Notes due
      2028 issued by Pioneer Natural Resources Company, (ii) those certain 5.00%
      Senior Notes due 2015 issued by XTO Energy Inc., or (iii) those certain 8.75%
      Senior Notes due 2011 issued by Venoco, Inc..

    

    “Non-Investment
      Grade Rating” shall mean, with respect to any Marketable
      Securities, any actual or implied rating of such Marketable Securities which
      is
      below BBB- from S&P or below Baa3 from Moody’s.

    

    “Total
      Asset Value” shall mean, for the Borrower and its Subsidiaries for
      any period determined on a consolidated basis in accordance with GAAP, the
      sum
      of (i) the Borrower’s and its Subsidiaries’ total assets as reported in the most
      recent public disclosures filed with the Securities and Exchange Commission
      (which shall include all loans and investments of the Borrower in its
      Subsidiaries, including those that are not Subsidiary Guarantors),
plus (ii) the value, determined in accordance with GAAP,
      of assets
      acquired (including loans made) by the Borrower or its Subsidiaries subsequent
      to the most recent public disclosures filed with the Securities and Exchange
      Commission, minus (iii) the value, determined in accordance with GAAP, of assets
      disposed of by the Borrower or its Subsidiaries (including loans repaid to
      the
      Borrower or its Subsidiaries) subsequent to the most recent public disclosures
      filed with the Securities and Exchange Commission.

    

    
      	 	
              (ii)           replacing
                the definition of “Eligible Net Asset Value” in its entirety with the
                following:

            

    

    

    “Eligible
      Net Asset Value” shall mean Total Asset Value, including fair
      market value of Unencumbered Overriding Royalty Interests to the extent that
      the
      fair market value of all Unencumbered Overriding Royalty Interests does not
      exceed in the aggregate five percent (5%) of Total Asset Value but excluding
      the
      following assets to the extent that they are excluded from the determination
      of
      the Eligible Net Asset Value under the Investment Credit Agreement (i) all
      warrant positions, (ii) any assets of a subsidiary that is not a Guarantor
      under
      the Investment Credit Agreement and any assets of the Borrower and its
      Subsidiaries not pledged to the administrative agent under the Investment Credit
      Agreement, (iii) the fair market value of all other Unencumbered Overriding
      Royalty Interests to the extent not expressly included as provided for above,
      (iv) any Cash Collateral, and (v) such other assets that are not otherwise
      satisfactory to the administrative agent under the Investment Credit
      Agreement.  So long as the Borrower is required to maintain the Asset
      Coverage Ratio and Adjusted Asset Coverage Ratio under the Investment Credit
      Agreement, the determination of Eligible Net Asset Value pursuant to the
      Investment Credit Agreement shall be used in this Agreement.

    

    (iii)                      and
      deleting the definition of “Net Asset Value.”

    

    (b)  Section
      7.12 of the Credit Agreement is hereby amended by replacing such Section in
      its
      entirety with the following:

    

    Section
      7.12                                           Loans,
      Etc.  The Borrower will not permit at any time the aggregate
      amount of all unfunded commitments of the Borrower and its Subsidiaries to
      provide loans, advances or Guarantees with respect to such Investments (but
      excluding any “unapproved capital expenditure amount” as defined below) to
      exceed 100% of the sum of (i) all cash of the Borrower and its Subsidiaries
      held
      in deposit accounts that are subject to a Control Agreement granting the
      administrative agent under the Investment Credit Agreement a first priority
      security interest therein, excluding Cash Collateral, plus (ii) the difference
      between (x) the Senior Revolving Commitment Amount minus (y) the Senior
      Revolving Credit Exposure, plus (iii) 95% of the Fair Market Value of all
      Marketable Securities with an Investment Grade Rating,  plus
      (iv) 85% of the Fair Market Value of all Marketable Securities with a
      Non-Investment Grade Rating.  For purposes of this Section 7.12,
“unapproved capital expenditure amount” means the portion of any commitment that
      (i) may only be used for capital expenditures (including drilling and completion
      of wells, the purchase of assets or other capital expenditures) that are
      approved by (or consented to by) the Borrower or such Subsidiary in its sole
      discretion or words of similar effect (whether under a specific approval or
      under a budget that must be approved) and (ii) exceeds the amount of the capital
      expenditures that have been so approved and that, if applicable, will not be
      paid from cash flow from operations under the approved budget.  In
      addition, for purposes of this Section 7.12, with respect to all Marketable
      Securities, the Borrower shall, not less frequently than once each calendar
      week
      (or on such more frequent basis as may be required under the Investment Credit
      Agreement), determine the Fair Market Value of such Marketable
      Securities.

     

    

    2.  Conditions
      to Effectiveness of this
      Amendment.  Notwithstanding any other
      provision of this Amendment and without affecting in any manner the rights
      of
      the Lenders hereunder, it is understood and agreed that this Amendment shall
      not
      become effective, and the Borrower shall have no rights under this Amendment,
      until the Administrative Agent shall have received (i) reimbursement or payment
      of its costs and expenses incurred in connection with this Amendment or the
      Credit Agreement (including reasonable fees, charges and disbursements of King
      & Spalding LLP, counsel to the Administrative Agent), and (ii) executed
      counterparts to this Amendment from the Borrower, each of the Subsidiary
      Guarantors and the Lenders.

    

    3.  Representations
      and Warranties.  To induce the Lenders
      and the Administrative Agent to enter into this Amendment, Borrower hereby
      represents and warrants to the Lenders and the Administrative Agent
      that:

    

    (a)           The
      execution, delivery and performance by Borrower of this Amendment (i) is within
      Borrower’s power and authority; (ii) has been duly authorized by all necessary
      corporate and shareholder action; (iii) is not in contravention of any provision
      of Borrower’s certificate of incorporation or bylaws or other organizational
      documents; (iv) does not violate any law or regulation, or any order or decree
      of any Governmental Authority; (v) does not conflict with or result in the
      breach or termination of, constitute a default under or accelerate any
      performance required by, any indenture, mortgage, deed of trust, lease,
      agreement or other instrument to which Borrower or any of its Subsidiaries
      is a
      party or by which Borrower or any such Subsidiary or any of their respective
      property is bound; (vi) does not result in the creation or imposition of any
      Lien upon any of the property of Borrower or any of its Subsidiaries; and (vii)
      does not require the consent or approval of any Governmental Authority or any
      other person;

    

    (b)           This
      Amendment has been duly executed and delivered for the benefit of or on behalf
      of Borrower and constitutes a legal, valid and binding obligation of Borrower,
      enforceable against Borrower in accordance with its terms except as the
      enforceability hereof may be limited by bankruptcy, insolvency, reorganization,
      moratorium and other laws affecting creditors’ rights and remedies in general;
      and

    

    (c)           After
      giving effect to this Amendment, the representations and warranties contained
      in
      the Credit Agreement and the other Loan Documents are true and correct in all
      material respects, and no Default or Event of Default has occurred and is
      continuing as of the date hereof.

    

    4.  Reaffirmations
      and Acknowledgments.

    

    (a)           Reaffirmation
      of Subsidiary Guaranty.  Each Subsidiary Guarantor consents to the
      execution and delivery by the Borrower of this Amendment and jointly and
      severally ratify and confirm the terms of the Subsidiary Guarantee Agreement
      with respect to the indebtedness now or hereafter outstanding under the Credit
      Agreement as amended hereby and all promissory notes issued thereunder. Each
      Subsidiary Guarantor acknowledges that, notwithstanding anything to the contrary
      contained herein or in any other document evidencing any indebtedness of the
      Borrower to the Lenders or any other obligation of the Borrower, or any actions
      now or hereafter taken by the Lenders with respect to any obligation of the
      Borrower, the Subsidiary Guarantee Agreement (i) is and shall continue to be
      a
      primary obligation of the Guarantors, (ii) is and shall continue to be an
      absolute, unconditional, joint and several, continuing and irrevocable guaranty
      of payment, and (iii) is and shall continue to be in full force and effect
      in
      accordance with its terms.  Nothing contained herein to the contrary
      shall release, discharge, modify, change or affect the original liability of
      the
      Subsidiary Guarantors under the Subsidiary Guarantee Agreement.

    

    (b)           Acknowledgment
      of Perfection of Security Interest. Borrower and each Subsidiary Guarantor
      hereby acknowledges that, as of the date hereof, the security interests and
      liens granted to the Administrative Agent and the Lenders under the Credit
      Agreement and the other Loan Documents are in full force and effect, are
      properly perfected and are enforceable in accordance with the terms of the
      Credit Agreement and the other Loan Documents.

    

    5.  Effect
      of Amendment.  Except as set forth expressly herein, all
      terms of the Credit Agreement, as amended hereby, and the other Loan Documents
      shall be and remain in full force and effect and shall constitute the legal,
      valid, binding and enforceable obligations of the Borrower to the Lenders and
      the Administrative Agent.  The execution, delivery and effectiveness
      of this Amendment shall not, except as expressly provided herein, operate as
      a
      waiver of any right, power or remedy of the Lenders under the Credit Agreement,
      nor constitute a waiver of any provision of the Credit
      Agreement.  This Amendment shall constitute a Loan Document for all
      purposes of the Credit Agreement.

    

    6.  Governing
      Law.   This Amendment shall be governed
      by, and construed in accordance with, the internal laws of the State of New
      York
      and all applicable federal laws of the United States of America.

    

    7.  No
      Novation.  This Amendment is not
      intended by the parties to be, and shall not be construed to be, a novation
      of
      the Credit Agreement or an accord and satisfaction in regard
      thereto.

    

    8.  Costs
      and Expenses.  The Borrower agrees to pay on demand all
      costs and expenses of the Administrative Agent in connection with the
      preparation, execution and delivery of this Amendment, including, without
      limitation, the reasonable fees and out-of-pocket expenses of outside counsel
      for the Administrative Agent with respect thereto.

    

    9.  Counterparts.This
      Amendment may be executed by one or more of the parties
      hereto in any number of separate counterparts, each of which shall be deemed
      an
      original and all of which, taken together, shall be deemed to constitute one
      and
      the same instrument.  Delivery of an executed counterpart of this
      Amendment by facsimile transmission or by electronic mail in pdf form shall
      be
      as effective as delivery of a manually executed counterpart hereof.

    

    10.  Binding
      Nature.  This Amendment shall be binding
      upon and inure to the benefit of the parties hereto, their respective
      successors, successors-in-titles, and assigns.

    

    11.  Entire
      Understanding.  This Amendment sets
      forth the entire understanding of the parties with respect to the matters set
      forth herein, and shall supersede any prior negotia­tions or agreements,
      whether written or oral, with respect thereto.

    

    [Signature
      Pages To Follow]

    

    IN
      WITNESS WHEREOF, the parties hereto
      have caused this Amendment to be duly executed, under seal in the case of the
      Borrower and the Subsidiary Guarantors, by their respective authorized officers
      as of the day and year first above written.

    

    BORROWER:

    

    NGP
      CAPITAL RESOURCES
      COMPANY

    

    

    By:
/s/
      Stephen K.
      Gardner

          Name:  Stephen
      K. Gardner

          Title:  Chief
      Financial Officer

    

    SUBSIDIARY
      GUARANTORS:

    

    NGPC
      FUNDING GP, LLC

    

    

    By:
      /s/ Stephen K. Gardner

    Name:  Stephen
      K. Gardner

    Title:  Chief
      Financial Officer

    

    NGPC
      FUNDING, LP

    By:
      NGPC
      Funding GP, LLC

    Its
      general partner

    

    

    By:
      /s/ Stephen K. Gardner

    Name:  Stephen
      K. Gardner

    Title:  Chief
      Financial Officer

    

    NGPC
      ASSET HOLDINGS GP, LLC

    

    

    By:
      /s/ Stephen K. Gardner

    Name:  Stephen
      K. Gardner

    Title:  Chief
      Financial Officer

    

    

    

    

    

    

    NGPC
      ASSET HOLDINGS, LP

    By:
      NGPC
      Asset Holdings GP, LLC

    Its
      general partner

    

    

    By:
      /s/ Stephen K. Gardner

    Name:  Stephen
      K. Gardner

    Title:  Chief
      Financial Officer

    

    NGPC
      NEVADA, LLC

    

    

    By:
      /s/ Stephen K. Gardner

    Name:  Stephen
      K. Gardner

    Title:  Chief
      Financial Officer

    

    LENDERS:

    

    SUNTRUST
      BANK, individually and as Administrative Agent and as a
      Lender

    

    

    By:
      /s/ James Warren

    Name:
      James Warren

    Title:
      Managing Director

    

    COMMERZBANK,
      AG

    

    By:
/s/
      Carl
      Kemmerer

    Name:
      Carl Kemmerer

    Title:   Vice
      President

    

    

    

     

    By:
      /s/ Janet Berry

    Name:  Janet
      Berry

    Title:
      Assistant
      Treasurer

    

    

    LANDESBANK
      BADEN-WÜRTTEMBERG

    

    By:
/s/
      Karen
      Richard

    Name:  Karen
      Richard

    Title:  Vice
      President

    

    By:
/s/
      Carolyn
      Gutbrod

    Name:  Carolyn
      Gutbrod

    Title:    Vice
      President

    

    

    

    BRANCH
      BANK &TRUST CO.

     

    

    By:
/s/
      Greg
      Drabik

    Name:  Greg
      Drabik

    Title:
      Assistant Vice
      President

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    AMERICAN
      NATIONAL BANK

     

    

    By:
/s/
      Gary W.
      Vick

    Name:  Gary
      W.
      Vick

    Title:  Vice
      Presidentex10_1.htm

    

     

    FIRST
      AMENDMENT TO

     

    SERIES
      A PREFERRED STOCK PURCHASE AGREEMENT

     

    

     

    This
      First Amendment (this “Amendment”) to the Series A Preferred
      Stock Purchase Agreement entered into as of November 30, 2006 (the
“Original Agreement”), by and between OcuSense, Inc., a
      Delaware corporation (“Company”) and OccuLogix, Inc., a
      Delaware corporation (“Purchaser”) is made effective this
      29th day of
      October, 2007, by and between Company and Purchaser.

     

    WHEREAS,
      pursuant to the Original Agreement, Company, among other things, sold Purchaser
      shares of its Series A Preferred Stock; and

     

    WHEREAS,
      pursuant to Section 1.4(c) of the Original Agreement, certain payments by
      Purchaser to Company are to be paid upon the achievement of certain milestones,
      including the Second Milestone; and

     

    WHEREAS,
      Company and Purchaser desire to amend and restate the definition of “Second
      Milestone” in the Original Agreement; and

     

    WHEREAS,
      pursuant to Section 9.9 of the Original Agreement, the Original Agreement may
      only be amended with the written consent of Company and Purchaser.

     

          
               NOW,
      THEREFORE, for valuable consideration received, the receipt of which is
      hereby acknowledged, Company and Purchaser hereby agree as follows:

     

    1.           The
      last clause of Section 1.4(c) of the Original Agreement, which commences
      immediately after the semi colon and which defines the term “Second Milestone,”
is hereby amended and restated in its entirety to read as follows:

     

    “and
      Second Milestone” means the achievement of the successful
      production and testing of (A) Osmolarity Beta Lab Cards and (B) the Osmolarity
      Beta Reader as further described on Schedule 1.4(c)(ii) hereto.”

     

    2.           Schedule
      1.4(c)(ii) to the Original Agreement is hereby amended and restated in its
      entirety to read as follows:

     

    “SCHEDULE
      1.4(c)(ii)

     

    Beta
      Lab Cards (Osmolarity)

     

    The
      Osmolarity Beta Lab Card is capable of effectively collecting 100 nanoliters
      of
      tear samples from a human subject and reliably interfacing with the Beta Reader
      to measure the osmolarity of the collected tears within a 3% (CV)
      tolerance.

     

    Beta
      Reader (Osmolarity)

     

    The
      Osmolarity Beta Reader demonstrates basic operation of an integrated system
      that
      includes prototype hardware and software that is able to interface to the
      Osmolarity Beta Lab Card and is capable of electrically measuring the Osmolarity
      of tears collected with the Osmolarity Beta Lab Card or referent
      solutions.”

     

    3.           Except
      as expressly amended as provided above, the Original Agreement shall remain
      unmodified and in full force and effect.

     

    4.           Any
      capitalized terms used but not defined herein shall have the meanings ascribed
      to them in the Original Agreement.

     

    5.           This
      Amendment may be executed in one or more counterparts, each of which shall
      be
      deemed an original.  Any party may execute this Amendment by facsimile
      signature, which shall be deemed to constitute an original for all
      purposes.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    IN
      WITNESS WHEREOF, the parties have executed this Amendment as of the date first
      written above.

    

    

    

    
      	
              COMPANY:

            	 	
                                                                                      
                OCUSENSE, INC.

            
	
                                                                                      
                By:

            	
              
                /s/Eric
                  Donsky

              

            
	 	
              Name:           Eric
                Donsky

            
	 	
              Title:             Chief
                Executive Officer

            
	 	 
	 	 	 	 
	
              PURCHASER:

            	 	
                                                                                      
                OCCULOGIX, INC.

            
	
                                                                                      
                By:

            	
              
                /s/Elias
                  Vamvakas

              

            
	 	
              Name:           Elias
                Vamvakas

            
	 	
              Title:             Chief
                Executive Officer

            
	 	 

    

     

    

     

    

    
      
              

                     
      

                  
      
      

                  OCUSENSE,
            INC.      

                  SIGNATURE
            PAGE TO      

                  FIRST
            AMENDMENT TO PREFERRED STOCK PURCHASE
            AGREEMENT

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