Document:

EXHIBIT 10.63

 

	
  Wells Fargo Equipment Finance, Inc.

  733 Marquette Avenue, Suite 700

  MAC N9306-070

  Minneapolis, MN 55402

  	
  Intercreditor Agreement

  

 

This
agreement. made as of the 16th day of December. 2002 by and between Wells Fargo
Business Credit, Inc. (“Bank”) and Wells Fargo Equipment Finance, Inc.
(“WFEFI”)

 

WITNESSETH:

 

WHEREAS,
Bank has entered or intends to enter into a revolving credit agreement (the
“Credit Agreement”) with Medtox Diagnostics, Inc. (the “Borrower”) whereby Bank
will provide the Borrower with a committed/conditional working capital line of
credit (the “Revolving Credit Facility”); and

 

WHEREAS,
in connection with the Revolving Credit Facility, the Borrower has or will
grant to Bank a security interest (the “Bank Security Interest”) in the
following property:

 

any and all of Borrower’s inventory, accounts and all other rights to
payment of every type and description and furniture, fixtures, machinery,
equipment, vehicles, prepaid insurance, supplies, patents, patent rights,
copyrights, trademarks, trade names, royalty rights, franchise rights. chattel
paper, license rights, documents, instruments, general intangibles, investment
property, goodwill and any and all other goods, now owned or hereafter acquired
by the Borrower and wherever located, together with all substitutions and
replacements therefore and products and proceeds of any of the foregoing
property and, in the case of all tangible collateral, together with (i) all
accessories, attachments, parts, equipment, accessions and repairs now or
hereafter attached or affixed to or used in connection with any such goods and
(ii) all warehouse receipts, bills of lading and other documents of title now
or hereafter covering such goods (“collectively, the Collateral”); and

 

WHEREAS,
WFEFI intends to provide Borrower with equipment loans or leases in an
aggregate amount of $428,495. 82 (Equipment Transactions:) from time to time
for the purpose of acquiring equipment (“WFEFI Equipment”) and in

connection
with such equipment loans or leases, WFEFI will acquire a security interest
(the “WFEFI Security Interest”) in the Collateral.

 

 

NOW,
THEREFORE, in consideration of the mutual promises and covenants hereinafter
set forth, and in consideration of the recitals, which are hereby made a part
of this Agreement, it is hereby agreed by the parties that:

 

1. Notwithstanding the actual priority of tile perfected security
interests. liens or other encumbrances of the respective parties, which any
such party would otherwise obtain over and by virtue of a prior filing or
obtaining prior possession of any collateral pledged by the Borrower in
connection with the Revolving Credit Facility, or the Equipment Transactions
(if any such liens are perfected by possession), the priority with respect to
such security interests, liens or other encumbrances will be as follows:

 

(a) As to the WFEFI Equipment the WFEFI
Security Interest shall have priority over the Bank Security Interest and the
Bank Security Interest is hereby expressly subordinated thereto.

 

(b) As to the Collateral (exclusive of the
WFEFI Equipment) the Bank Security Interest shall have priority over the WFEFI
Security Interest and the WFEFI Security Interest is hereby expressly
subordinated thereto.

 

This
paragraph 1 shall give no rights to either WFEFI or Bank as against the other
if and to the extent that its respective security interest in either the
Collateral or the WFEFI Equipment, at the time moneys are collected or received
from the liquidation of either the Collateral or the WFEFI equipment, is (i)
not perfected: (ii) is avoidable under the United States Bankruptcy Code as a
preference or otherwise; or (iii) is junior to the security interest of any
other intervening third party.

 

2. None of the parties hereto will (i) exercise any collection rights
with respect to any of the Collateral in which such party does not have the
first priority security interest; (ii) take possession of, sell or dispose of,
or otherwise deal with such Collateral; or (iii) exercise or enforce any right
or remedy which may be available to such party with respect to such Collateral
upon default, without the prior written consent of the party(ies) holding
senior security interests in such Collateral pursuant to Section 1 above.

 

3. Neither Bank nor WFEFI (i) makes any representation or warranty
concerning the Collateral or the validity, perfection or (except as to the
subordination effected hereby) priority of any security interest therein, or
(ii) shall have any WFBC Intercreditor Agreement.

 

2Exhibit 4.5

 

FIRST AMENDMENT TO RIGHTS AGREEMENT

 

This First Amendment (the “Amendment”) to

the Rights Agreement (the “Agreement”) entered into as of June 17, 2002, by and

between Amylin Pharmaceuticals, Inc., a Delaware

corporation (the “Company”), and American Stock Transfer &

Trust Company (the “Rights Agent”), is entered into as of December

13, 2002.

 

RECITALS

 

Whereas, Section 27 of the Agreement provides

that the Company and the Rights Agent shall, if the Company so directs,

supplement or amend any provision of the Agreement without the approval of any

holders of the Rights, any such supplement or amendment to be evidenced by a

writing signed by the Company and the Rights Agent;

 

Whereas, on

September 19, 2002, the Company entered into a Collaboration Agreement, a Loan

Agreement, a Milestone Conversion Agreement and a Stock Purchase Agreement

(collectively, the “Lilly Agreements”) and other related agreements with Eli

Lilly and Company, an Indiana corporation (“Lilly”), pursuant to which Lilly

will acquire certain shares of the common stock of the Company (the “Stock

Purchase”), with such number of shares not to exceed 19.9% of the shares of

Common Stock outstanding on September 19, 2002;

 

Whereas, the Company desires to amend the

Agreement in the manner set forth in this Amendment to provide that Lilly will

not be deemed an Acquiring Person pursuant to the Agreement as a result of any

Stock Purchase by Lilly under the Lilly Agreements, and the Company’s Board of

Directors has approved such amendment; and

 

Whereas, pursuant to Section 27 of the

Agreement, the Company has delivered to the Rights Agent a certificate signed

by the Chief Executive Officer of the Company certifying that the proposed

amendment of the Agreement is in compliance with the terms of Section 27 of the

Agreement;

 

Agreement

 

Now, Therefore, in

consideration of the benefits described in the Recitals hereto and the mutual promises hereinafter set forth, the

parties hereto agree as follows:

 

1.                                      Except

as otherwise defined herein, capitalized terms used but not defined herein

shall have the respective meanings given to them in the Agreement.

2.                                      Section

1(a) of the Agreement is hereby amended and restated in its entirety as

follows:

 

“(a)         ‘Acquiring

Person’ shall mean any Person (as such term is hereinafter

defined) who or which, together with all Affiliates and Associates (as such

terms are hereinafter defined) of such Person, shall be the Beneficial Owner

(as such term is hereinafter defined) of 15% or more of the Common Shares then

outstanding.  Notwithstanding the

foregoing, (A) the term Acquiring Person shall not include (i) the

 

 

Company, (ii) any Subsidiary (as such term is

hereinafter defined) of the Company, (iii) any employee benefit or compensation

plan of the Company or any Subsidiary of the Company, or (iv) any entity

holding Common Shares for or pursuant to the terms of any such employee benefit

or compensation plan of the Company or any Subsidiary of the Company and (B) no

Person shall become an Acquiring Person either (x) as the result of an

acquisition of Common Shares by the Company which, by reducing the number of

shares outstanding, increases the proportionate number of shares beneficially

owned by such Person to 15% or more of the Common Shares then outstanding; provided, however,

that if a Person shall become the Beneficial Owner of 15% or more of the Common

Shares then outstanding by reason of share purchases by the Company and shall,

following written notice from, or public disclosure by the Company of such

share purchases by the Company, become the Beneficial Owner of any additional

Common Shares without the prior consent of the Company and shall then

Beneficially Own more than 15% of the Common Shares then outstanding, then such

Person shall be deemed to be an Acquiring Person, or (y) as the result of the

acquisition of Common Shares directly from the Company as long as, prior to any

acquisition of Common Shares directly from the Company, the Company has been

apprised by any such Person of the number of Common Shares beneficially owned

by such Person immediately prior to any such acquisition; provided, however, that if a

Person shall become the Beneficial Owner of 15% or more of the Common Shares

then outstanding by reason of share purchases directly from the Company and shall,

after that date, become Beneficial Owner of any additional Common Shares

without the prior written consent of the Company and shall then Beneficially

Own more than 15% of the Common Shares then outstanding, then such Person shall

be deemed to be an Acquiring Person or (z) if the Board of Directors determines

in good faith that a Person who would otherwise be an Acquiring Person, as

defined pursuant to the foregoing provisions of this paragraph (a), has become

such inadvertently, and without any intention of changing or influencing

control of the Company, and such Person promptly enters into an irrevocable

written commitment in favor of the Company to divest, and thereafter divests

(without retaining any power, including voting with respect to such Common

Shares), as promptly as practicable (as determined in good faith by the Board

of Directors), following receipt of written notice from the Company of such

event, of Beneficial Ownership of a sufficient number of Common Shares so that

such Person would no longer be an Acquiring Person, as defined pursuant to the

foregoing provisions of this paragraph (a), then such Person shall not be

deemed to be an Acquiring Person for any purposes of this Agreement; provided,

however, that if such Person shall again become the Beneficial Owner of 15% or

more of the Common Shares then outstanding, such Person shall be deemed an

Acquiring Person, subject to the exceptions set forth in this Section 1(a).

 

Notwithstanding the foregoing, neither Eli

Lilly and Company, an Indiana corporation (“Lilly”) nor any Affiliate or

Associate thereof shall be deemed to be an Acquiring Person for purposes of

this Agreement, but only to the extent that Lilly and any of its Affiliates and

Associates (i) Beneficially Own shares of the Company’s Common Shares as of the

date hereof or (ii) acquire additional shares of the Company’s Common Shares in

accordance with the terms of the Lilly Agreements.  In the event that Lilly or any Affiliate or Associate thereof

shall hold any additional shares of the Company’s Common Shares other than as

contemplated by the preceding sentence and

 

2

 

such holdings, together with all other holdings of the Company’s Common

Shares shall exceed the limitations set forth in the preceding paragraph, then

Lilly or its Affiliate or Associate, as the case may be, shall be deemed an

Acquiring Person under this Agreement.”

 

3.                                      A

new Section 1(r) of Agreement shall be added to read as follows:

 

“(r)         ‘Lilly

Agreements’ shall mean the Collaboration Agreement, the Loan

Agreement, the Milestone Conversion Agreement and the Stock Purchase Agreement

between the Company and Eli Lilly and Company, an Indiana Corporation, each

dated as of September 19, 2002, and any amendments or supplements thereto.”

 

4.                                      This

Amendment shall be deemed to be a contract made under the laws of the state of

Delaware and for all purposes shall be governed by and construed in accordance

with the laws of such state applicable to contracts to be made and performed

entirely within such state.

 

5.                                      This

Amendment may be executed in two or more counterparts, each of which shall be

deemed an original, but all of which together shall constitute one and the same

instrument.

 

3

 

The foregoing Amendment To The Rights Agreement is hereby

executed and consented to as of the date first above written.

 

 

	

  Amylin Pharmaceuticals, Inc.

  	

  American Stock Transfer & Trust Company

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

   

  
	

  By:

  	

  /s/ Joseph C. Cook, Jr.

  	

  By:

  	

  /s/ Paula Caroppoli

  
	

   

  	

   

  
	

   

  	

  Print Name:

  	

  Paula Caroppoli

  
	

   

  	

   

  
	

   

  	

  Title: 

  	

  Vice President

  
	

   

  	

   

  
						

 

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