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Exhibit 4.2.2    
    

SECOND AMENDMENT TO THE

REVOLVING CREDIT AGREEMENT  

        THIS SECOND AMENDMENT to the REVOLVING CREDIT AGREEMENT, dated as of this 27th day of February, 2004 (the "Second Amendment"), is entered into in connection with
and as an amendment to that certain Revolving Credit Agreement, dated as of March 10th, 2003 (the "Credit Agreement"), as amended by that First Amendment to the Revolving Credit
Agreement dated as of August 31, 2003, by and between First National Bank of Omaha (the "Bank") and Ballantyne of Omaha, Inc. (the "Borrower"). All capitalized terms used but not
otherwise defined herein shall have their respective meanings as prescribed in the Credit Agreement. 

        WHEREAS,
the Borrower and the Bank desire to amend certain of the covenants as provided in the Credit Agreement; and 

        WHEREAS,
the Borrower and the Bank are willing to make such amendments on the terms set forth below. 

        NOW,
THEREFORE, the parties hereby agree that as of the date hereof: 

        1.     Section 4.16
of the Credit Agreement is hereby deleted and shall be marked as "4.16 [Reserved]." 

        2.     Section 4.17
of the Credit Agreement is hereby amended to read as follows: 

        4.17    Acquisitions.    The Borrower shall not, and shall not permit any Subsidiaries to, acquire any stock or any
equity interest in, or warrants therefor or securities convertible into the same, or a substantial portion of the assets of, or debentures of, or other investments in another entity without the prior
written consent of FNBO, including, without limitation, the acquisition of any treasury stock, which consent shall not be unreasonably withheld; provided,
however, that without the consent of FNBO the Borrower and its Subsidiaries shall be permitted to make Permitted Investments; provided
further, that without the consent of FNBO the Borrower and its Subsidiaries shall be permitted to acquire any stock or any equity interest in, or warrants therefor or
securities convertible into the same, or a substantial portion of the assets of, or debentures of, or other investments in another entity, including any Subsidiary, with an aggregate cumulative
purchase price (whether paid in cash, stock or other assets) not to exceed $7,000,000 during the term of the Agreement. Notwithstanding the foregoing, the Borrower shall not be permitted to act as a
market maker or to conduct trading activities; and no Subsidiary shall be permitted to conduct trading activities for its own account or to act as a market maker. 

        3.     Section 4.18
of the Credit Agreement is hereby amended to read as follows: 

        4.18    Subsidiaries.    Except as expressly permitted in Section 4.17 hereof, the Borrower shall not, and
shall not permit any Subsidiary to, acquire any Subsidiary without the prior written consent of FNBO, which consent shall not be unreasonably withheld. Upon the creation or acquisition of a Subsidiary
by the Borrower, the Borrower shall cause a first security interest in the Borrower's equity interest in such Subsidiary to be perfected in favor of FNBO and the Borrower shall cause such Subsidiary
to act as a Guarantor under the Guarantor Documents. Upon the creation or acquisition of a Subsidiary by a Guarantor, such Guarantor shall cause a first security interest in such Guarantor's equity
interest in such Subsidiary to be perfected in favor of FNBO and such Guarantor shall cause such Subsidiary to act as a Guarantor under the Guarantor Documents. 

        4.     Section 6.1(d)
of the Credit Agreement is hereby amended by deleting "4.16" therein. 

1

 

        5.     The
Quarterly Compliance Certificate attached as Exhibit C to the Credit Agreement is hereby amended to read as shown on Attachment A to this Second Amendment. 

        6.     This
Second Amendment shall not affect any and all amounts and obligations that may be outstanding from the Borrower to the Bank under the Credit Agreement, and all such
obligations remain secured by the Collateral. 

        7.     This
Second Amendment may be executed in several counterparts, and such counterparts together shall constitute one and the same instrument. 

        8.     Except
as expressly agreed herein, all terms of the Credit Agreement shall remain in full force and effect. 

[Signature
page follows] 

2

 

        IN
WITNESS WHEREOF, the Borrower and the Bank have caused this Second Amendment to be executed as of the day and year first above written. 

	 	 	BANK:
	

 	
 	

FIRST NATIONAL BANK OF OMAHA
	

 	
 	

By:	

/s/  JEFF SIMS      
 Name: Jeff Sims

Title: Vice President
	

 	
 	

BORROWER:
	

 	
 	

BALLANTYNE OF OMAHA, INC.
	

 	
 	

By:	

/s/  BRAD FRENCH      
 Name: Brad French

Title: CFO

        NOTICE:
A credit agreement must be in writing to be enforceable under Nebraska law. To protect you and us from any misunderstandings or disappointments, any contract, promise,
undertaking, or offer to forebear repayment of money or to make any other financial accommodation in connection with this loan of money or grant or extension of credit, or any amendment of,
cancellation of, waiver of, or substitution for any or all of the terms or provisions of any instrument or document executed in connection with this loan of money or grant or extension of credit, must
be in writing to be effective. 

INITIALED:
  BF  

                    Borrower 

3

 
APPENDIX A  

 QUARTERLY COMPLIANCE CERTIFICATE  

4

 

COMPLIANCE CERTIFICATE

BALLANTYNE OF OMAHA, INC.  

First
National Bank of Omaha 

Date                    

Attn:
Jeff Sims

16th & Dodge Streets

Omaha, Nebraska 68197 

        I
certify that Ballantyne of Omaha, Inc. is in compliance with the requirements set forth in the Revolving Credit Agreement (the "Agreement") dated as of
March 10th, 2003, as amended from time to time, between the undersigned (the "Borrower") and First National Bank of Omaha. 

        The
following calculations are as of                          (statement date) as required by Section 4.1(d) of
said Agreement: 

        Evaluations:

        EBITDA:

	 	 	quarter

ending	 	 	 	quarter

ending	 	 
	 	 	 	 	
	 	 	 	

	

Consolidated Net Income:	
 	

 	
 	

 	
 	

 	
 	

 
	 	 	
	 	

	

Taxes paid or Accrued:	
 	

 	
 	

 	
 	

 	
 	

 
	 	 	
	 	

	

Interest expenses paid or accrued:	
 	

 	
 	

 	
 	

 	
 	

 
	 	 	
	 	

	

Deducted Amortization and Depreciation:	
 	

 	
 	

 	
 	

 	
 	

 
	 	 	
	 	

	

Plus/Minus any non-reoccurring loss or gain (at FNBO's discretion):	
 	

 	
 	

 	
 	

 	
 	

 
	 	 	
	 	

	

Totals:	
 	

(a)	
 	

 	
 	

(b)	
 	

 
	 	 	 	 	
	 	 	 	

	

EBITDA = [(a) + (b)] × 2 =                              

5

 

Section 4.4

	• Indebtedness:	 	At no time will the Borrower and the Guarantor have Indebtedness in excess of two (2) times EBITDA.
	

• Position:	
 	

(1)	
 	

Borrower [has/does not have] Indebtedness other than as incurred under this Agreement;
	

 	
 	

(2)	
 	

Indebtedness =	
 	

$	
 	

 
	 	 	 	 	 	 	 	 	

	

 	
 	

 	
 	

EBITDA =	
 	

$	
 	

 
	 	 	 	 	 	 	 	 	

	

 	
 	

 	
 	

2 × EBITDA =	
 	

$	
 	

 
	 	 	 	 	 	 	 	 	

	

 	
 	

 	
 	

Ratio =	
 	

 	
 	

 
	 	 	 	 	 	 	

The
Borrower [is/is not] in compliance with Section 4.4. 

Section 4.17

	• Acquisitions:	 	The Borrower and its Subsidiaries shall not make acquisitions as described in Section 4.17 with an aggregate cumulative purchase price (paid in cash, stock or other assets) in excess of $7,000,000 during the term of
the Agreement without the prior consent of FNBO.
	

• Position:	
 	

Aggregate cumulative purchase price of acquisitions as of the date hereof = $___________________.

The
Borrower [is/is not] in compliance with Section 4.17. 

Additional
Representations: 

There
[have/have not] been any sale(s) of assets which would require prepayment of the Note under Section 4.2. 

There
[has/has not] been a Change of Control. 

The
Borrower and/or any Guarantor [has/has not] pledged a security interest in any commercial real property as prohibited by  Section 4.23. 

Name
of Borrower: Ballantyne of Omaha, Inc. 

	Signature:	 	 	 	 
	 	 	
	 	 
	

Title:	
 	

 	
 	

 
	 	 	
	 	 

6

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Exhibit 10.15  

 
 

LEASE EXTENSION AGREEMENT #1    
    

(Plum Tree—2601 Midpoint Drive)

        THIS
LEASE EXTENSION AGREEMENT is made and entered into this 20th day of October 2003. 

	LANDLORD:	The Landlord is GB Ventures, LLP.
	
TENANT:	

The Tenant is Heska Corporation

	
LEASE AGREEMENTS:	

That certain Lease Agreement between Landlord and Tenant dated August 24, 1999 and Lease Addendum #1 dated October 6, 1999.

	
PREMISES:	

The Leased Premises consist of approximately 11,628 square feet at 2601 Midpoint Drive, Suites B, C, D, E and F, Fort Collins, Colorado, in the project commonly known as Plum Tree Plaza.

	
CURRENT LEASE EXPIRATION:	

October 1, 2004.

	
NEW LEASE EXPIRATION:	

May 31, 2005.

	
EXTENSION PERIOD BASE MONTHLY RENTAL RATE:
	

 	

The base monthly rental rate for the Lease Extension Period shall be as follows:
	

 	

        October 1, 2004 to May 31, 2005	

$9,844.09/month NNN with a Consumer Price Index increase (3%min - 6%max) on:

October 1, 2004

	
OPTION TO EXTEND:	

Tenant shall have one (1) option to extend the term of this Lease for one (1) year at same rental rate plus a Consumer Price Index increase (3%min - 6%max) on October 1, 2005. Tenant shall give written notice to landlord no later than
May 31, 2004.
	
BROKERAGE FEE:	

A brokerage fee shall be paid to Equis Corporation per separate agreement.

	
OTHER TERMS & CONDITIONS:	

All other terms and conditions of that Lease Agreement between Landlord and Tenant dated August 24, 1999 and Lease Addendum #1 dated October 6, 1999 which have not been superseded by terms and conditions of this Lease Extension Agreement #1,
 shall remain the same.

	
OFFER PERIOD:	

This Lease Extension offer shall remain in effect through October 27th, 2003.

	
LANDLORD:	
 	

TENANT:
	
GB VENTURES, LLP	
 	
HESKA CORPORATION
	

/s/  WILLIAM W. REYNOLDS      
	
 	

/s/  JASON A. NAPOLITANO      

	By:	WILLIAM W. REYNOLDS,

Managing Partner	 	By:	JASON A. NAPOLITANO

Executive Vice President and Chief Financial Officer

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LEASE EXTENSION AGREEMENT #1

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