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                                                                   Exhibit 10.58

                       ASSIGNMENT AND ASSUMPTION AGREEMENT

         This ASSIGNMENT AND ASSUMPTION AGREEMENT (this "AGREEMENT"), dated as
of November 20, 2001, is by and among DONJOY, L.L.C., a Delaware limited
liability company, as assignor (the "ASSIGNOR"), DJ ORTHOPEDICS, INC., a
Delaware corporation, as assignee (the "ASSIGNEE"), FIRST UNION NATIONAL BANK,
as administrative agent (in such capacity, the "ADMINISTRATIVE AGENT") and as
collateral agent (in such capacity, the "COLLATERAL AGENT"), and THE CHASE
MANHATTAN BANK, as syndication agent (in such capacity, the "SYNDICATION AGENT")
under that certain Credit Agreement dated as of June 30, 1999 among the
Assignor, dj Orthopedics, L.L.C., a Delaware limited liability company (the
"BORROWER"), the Administrative Agent, the Syndication Agent, and the Lenders
party thereto (as amended by Amendment No. 1 dated as of May 25, 2000, and
Agreement dated as of July 13, 2000, and as such may be amended, supplemented or
otherwise modified from time to time, the "CREDIT AGREEMENT"). Capitalized terms
used herein without definition shall have the meanings ascribed to such terms in
the Credit Agreement.

                              BACKGROUND STATEMENT

         The Borrower is a wholly owned subsidiary of the Assignor. Pursuant to
the Credit Agreement, the Lenders have extended credit to the Borrower, and have
agreed to further extend credit to the Borrower, pursuant to the terms and
conditions set forth therein.

         The Assignee intends to consummate a registered public offering of its
common stock (the "IPO") immediately following the completion of (i) the merger
of DJ Acquisition Corporation, a Delaware corporation and a wholly owned
subsidiary of the Assignee (the "MERGER SUB"), with and into the Assignor,
pursuant to which the Assignor will be the surviving entity and will become a
wholly owned subsidiary of the Assignee, and (ii) the merger of the Assignor
with and into the Assignee (the "SECOND MERGER"), pursuant to which the Assignee
will be the surviving entity and will become the owner of 100% of the
outstanding membership interests in the Borrower.

         As a condition to the consummation of the transactions described in the
preceding paragraph, the Assignor has agreed to assign to the Assignee, and the
Assignee has agreed to assume from the Assignor, all of the rights, interests,
duties, obligations and liabilities of the Assignor in, to and under the Credit
Agreement and the other Loan Documents.

                             STATEMENT OF AGREEMENT

                  ACCORDINGLY, in consideration of the premises and the mutual
agreements contained herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
hereby agree as follows:

         SECTION 1. ASSIGNMENT AND ASSUMPTION. Effective immediately prior to
the effective time of the Second Merger, (a) the Assignor hereby assigns,
transfers and conveys to the

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Assignee all of the rights, interests, duties, obligations and liabilities of
the Assignor in, to and under the Credit Agreement, the Security Agreement, the
Pledge Agreement, the Parent Guarantee Agreement and all other Loan Documents to
which the Assignor is a party, and (b) the Assignee hereby assumes and accepts
all of the rights, interests, duties, obligations and liabilities of the
Assignor in, to and under such Loan Documents and becomes a party thereto, all
to the same extent as if the Assignee had originally executed such Loan
Documents in the place and stead of the Assignor. The Assignee confirms that,
after giving effect to this Agreement and the Second Merger, the Loan Documents
to which the Assignee is becoming a party pursuant to this Agreement shall
remain in full force and effect, shall be enforceable against the Assignee in
accordance with their respective terms, and shall not be discharged, diminished,
limited or otherwise affected in any respect, and that the Liens and security
interests granted thereunder in favor of the Collateral Agent for the benefit of
the Secured Parties shall continue to be validly existing and perfected Liens
and security interests (to the extent perfected immediately before giving effect
to this Agreement, and subject to Section 9-508(b) of the Uniform Commercial
Code), superior and prior to the rights of all other Persons therein except for
Permitted Encumbrances.

         SECTION 2. REPRESENTATIONS OF ASSIGNEE. The Assignee hereby represents
and warrants that, as of the date hereof and after giving effect to this
Agreement, each of the representations and warranties set forth in Article III
of the Credit Agreement is true and correct in all material respects with the
same effect as if made on the date hereof, except to the extent such
representations and warranties expressly relate to an earlier date (in which
case such representations and warranties shall be true and correct in all
material respects as to such earlier date).

         SECTION 3. NOTICES TO ASSIGNEE. The address of the Assignee for
purposes of all notices and other communications under the Credit Agreement and
the other Loan Documents is as set forth for in Section 9.01(a) of the Credit
Agreement.

         SECTION 4. APPLICABLE LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

         SECTION 5. EFFECT OF AGREEMENT. Except as expressly set forth herein,
this Agreement shall not, by implication or otherwise, limit, impair, constitute
a waiver of, or otherwise affect the rights and remedies of the Lenders, the
Administrative Agent, the Syndication Agent, the Borrower or the Assignee under
the Credit Agreement or any other Loan Document, and shall not alter, modify,
amend or in any way affect any of the terms, conditions, obligations, covenants
or agreements contained in the Credit Agreement or any other Loan Document, all
of which are ratified and affirmed in all respects and shall continue in full
force and effect. After the date hereof, any reference to the Credit Agreement
shall mean the Credit Agreement as modified hereby. This Agreement shall
constitute a "Loan Document" for all purposes of the Credit Agreement and the
other Loan Documents. This Agreement may not be amended nor may any provision
hereof be waived except pursuant to a writing signed by each of the parties
hereto.

         SECTION 6. COUNTERPARTS. This Agreement may be executed by one or more
of the parties to this Agreement on any number of separate counterparts
(including by facsimile transmission),

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and all of said counterparts taken together shall be deemed to constitute one
and the same instrument.

         SECTION 7. HEADINGS. The headings used herein are for convenience of
reference only, are not part of this Agreement and are not to be taken into
consideration in interpreting this Agreement.

                         (SIGNATURES ON FOLLOWING PAGE)

                                       3
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         IN WITNESS WHEREOF, the parties have duly executed this Agreement as of
the day and year first above written.

                                  DONJOY, L.L.C.

                                  By:    /s/ Leslie H. Cross
                                         -------------------
                                         Name:  Leslie H.  Cross
                                         Title: President and Chief Executive
                                                Officer

                                  DJ ORTHOPEDICS, INC.

                                  By:    /s/ Cyril Talbot III
                                         --------------------
                                         Name:  Cyril Talbot III
                                         Title: Vice President - Finance,
                                                Chief Financial Officer &
                                                Secretary

                                  FIRST UNION NATIONAL BANK, as
                                  Administrative Agent and Collateral Agent

                                  By:    /s/ Douglas T. Davis
                                         --------------------
                                         Name:  Douglas T. Davis
                                         Title: Senior Vice President

                                  THE CHASE MANHATTAN BANK, as
                                  Syndication Agent

                                  By:    /s/ ROBERT BOTTAMENDI
                                         ---------------------
                                         Name:  Robert Bottamendi
                                         Title: Vice President

                                      S-1Prepared by MERRILL CORPORATION

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Exhibit 10(a)  

Draft
of November 13, 2001 

 
 

AMENDMENT TO STOCK PURCHASE AGREEMENT AND COLLATERAL AGREEMENT    
  

    AMENDMENT, dated as of September 15, 2001 (this "Amendment"), to the Stock Purchase Agreement, dated as
of September 8, 2000, as amended by the First Amendment thereto, dated as of January 2, 2001, and by the Second Amendment thereto, dated as of March 21, 2001 (as so amended, the
"Stock Purchase Agreement"), among Bank of America, N.A., a national banking association, as Share Seller ("Share
Seller"), MBG Trust, a Delaware business trust (the "Trust"), and Mandalay Resort Group, a Nevada corporation
("Share Purchaser"), and to the Collateral Agreement, dated as of September 8, 2000 (the "Collateral
Agreement"), among Share Purchaser, Share Seller, the Trust and Banc of America Securities LLC, a Delaware limited liability company ("Collateral
Agent"). 

W I T N E S S E T H  

    WHEREAS, the parties have entered into the Stock Purchase Agreement and the Collateral Agreement; and 

    WHEREAS,
the parties desire to provide for the modification of the Stock Purchase Agreement and the Collateral Agreement as set forth herein. 

    NOW
THEREFORE, in consideration of their mutual covenants herein contained, the parties hereto, intending to be legally bound, hereby mutually covenant and agree as follows: 

    1.  Defined Terms. Capitalized terms used but not defined herein have the meanings specified in the Stock Purchase
Agreement or the Collateral Agreement, as the case may be. Terms defined herein shall be deemed to be defined in the Stock Purchase Agreement. 

    2.  Amendments to Definitions. 

	(a)
	Section 1.1
of the Stock Purchase Agreement is hereby amended as follows:

	(i)
	in
the definition of "Maximum Deliverable Shares", the number "12,500,000" shall be replaced with
"15,000,000";

	(ii)
	in
the definition of "Maximum Initial Amount", the number "$125 million" shall be replaced
with "$145 million"; and

	(iii)
	in
the definition of "Maximum Initial Shares", the number "8.0%" shall be replaced with "8.5%" and
the phrase "in the Initial Period" shall be deleted. 

	(b)
	The
definition of "Spread" in Section 1.1 of the Stock Purchase Agreement shall be amended and restated in its entirety to
read as follows: 

    "Spread" means (i) with respect to any Daily Additional Share Amount or the portion of the Aggregate Forward Amount accumulated
during the Additional Purchase Period, 195 basis points per annum and (ii) otherwise, 150 basis points per annum (collectively, the "Initial
Spread"), as such rates may be adjusted from time to time pursuant to Section 7.9; provided that if an Event of Default
with respect to Share Purchaser has occurred and is continuing, the otherwise-prevailing spread (as so adjusted) shall be increased by 100 basis points per annum. In the event of an Optional
Prepayment or a Mandatory Prepayment in part, or other reduction in part of the Aggregate Forward Amount, the Calculation Agent shall allocate in its discretion the Prepayment Amount or amount of such
other reduction, as the case may be, between the portions of the Aggregate Forward Amount described in clauses (i) and (ii) of the preceding sentence. 

	(c)
	For
the avoidance of doubt, the amendments made by subsection (a) above shall not be deemed to affect the obligations of the parties in respect of the Initial Period. 

 

    3.  Interest Accrual Period Adjustment. Notwithstanding anything to the contrary in the Stock Purchase Agreement,
(i) the Interest Accrual Period commencing on and including July 1, 2001, will end on and include October 31, 2001; and (ii) the next following Interest Accrual Period will
commence on and include November 1, 2001, and will end on and include December 31, 2001. 

    4.  Interim Settlement Adjustment. Notwithstanding anything to the contrary in the Stock Purchase Agreement, the parties
will not be required to perform their respective obligations under Section 2.5 of the Stock Purchase Agreement in respect of the last Exchange Business Day of any calendar quarter during the
term of the Stock Purchase Agreement, but shall instead perform such obligations in respect of the last Exchange Business Day of the month next following such calendar quarter as though it were the
last Exchange Business Day of a calendar quarter. 

    5.  Additional Purchase of Shares. (a) During the period commencing on and including October 4, 2001 and
ending on and including the Final Additional Purchase Date (as defined below) (the "Additional Purchase Period"), Share Seller shall, subject to the
next sentence, use reasonable efforts to purchase or cause the purchase of Shares (the "Additional Shares") with an Aggregate Additional Share Amount
(as defined below) as close as practicable to (taking into account any Purchase Suspensions), but in no event greater than, $20,000,000, in such manner, at such prices and at such times as Share
Seller, in its sole discretion, shall determine. The provisions of the second and third sentences of Section 2.2(a) and Sections 2.2(b) and (c) of the Stock Purchase Agreement shall
apply to such purchases, with references therein to an Initial Period Date being deemed to refer to any Exchange Business Day in the Additional Purchase Period (each, an
"Additional Purchase Date"). With respect to the purchase of Additional Shares on any Additional Purchase Date, each party hereby makes the
representations and warranties, and agrees to comply with the covenants and agreements, set forth in the Stock Purchase Agreement that would be applicable to such party in connection with the purchase
of Shares on any Initial Period Date. 

	(b)
	On
the earliest to occur of (i) the first Additional Purchase Date on which the number of Initial Shares plus the
number of Additional Shares purchased on or prior to such date equals the Maximum Initial Shares, (ii) the first Additional Purchase Date on which the Aggregate Forward Amount  plus the
Aggregate Additional Share Amount equals the Maximum Initial Amount, (iii) written direction of Share Purchaser delivered to the
Trust and Share Seller that the Additional Purchase Period shall terminate, (iv) October 31, 2001 and (v) any Optional Prepayment Date, Mandatory Prepayment Event or any Event of
Default with respect to Share Purchaser (the earliest of the dates described in clauses (i) through (v), the "Final Additional Purchase Date"),
the Additional Purchase Period shall terminate and Share Seller shall cease purchasing or causing the purchase of Additional Shares and shall promptly prepare and deliver a schedule to Share
Purchaser, which shall state the number of Additional Shares purchased and the Aggregate Additional Share Amount as of the end of the Additional Purchase Period.

	(c)
	Upon
the occurrence of the Final Additional Purchase Date, (i) the Aggregate Forward Amount shall be increased by the Aggregate Additional Share Amount and (ii) the
Number of Shares shall be increased by the number of Additional Shares. Notwithstanding anything to the contrary herein, (x) such
increases shall not apply for purposes of the calculation of Interest Costs for the Interest Payment Date on the last Exchange Business Day of October 2001 and (y) such increases shall
apply for purposes of the determination of the obligations of Share Purchaser and Share Seller under Section 2.5 of the Stock Purchase Agreement in respect of such date. 

    6.  Interest Payments and Commissions. On the last Business Day of the calendar month in which the Final Additional
Purchase Date occurs, Share Purchaser shall pay to or as directed by Share Seller an amount in cash equal to the sum of (i) the aggregate Additional Interest Costs for each Daily 

2

 

Additional Share Amount and (ii) the product of the Purchase Commission and the number of Additional Shares purchased pursuant to Section 5(a) above during the Additional Purchase Period
(the "Additional Commission Cost"). Share Purchaser shall be entitled, in lieu of its obligations under this Section 6, to pay such amounts in
accordance with Section 2.3(c) of the Stock Purchase Agreement as though such amounts were an Interest Cost and the date of payment therefor were an Interest Payment Date. 

    7.  Repricing. Section 7.9 of the Stock Purchase Agreement is hereby amended (i) by (i) replacing
"to reflect" with "such that (x) the applicable Spread under clause (ii) of the definition thereof reflects" and (ii) by inserting at the end of the first sentence the phrase "and
(y) the applicable Spread under clause (i) of the definition thereof is 45 basis points per annum above the spread determined pursuant to clause (x)". 

    8.  Structuring Fee. On October 4, 2001, Share Purchaser shall pay to Share Seller an amount equal to $50,000. 

    9.  Additional Definitions. As used herein, the following terms shall have the indicated meanings: 

    "Additional Interest Cost" means, for each Daily Additional Share Amount, an amount equal to the product of (w) such Daily
Additional Share Amount, (x) the applicable Initial LIBOR Rate plus the Spread, (y) the actual number of days elapsed in the period from
and including the related Additional Purchase Settlement Date to and including the last calendar day of the calendar month in which the Final Additional Purchase Date occurs, and (z) 1/360. For
purposes of this provision, references to "Initial Period Settlement Date" and "Daily Aggregate Forward Amount" in the definition of Initial LIBOR Rate (and in the definitions of terms used therein)
shall be deemed to be "Additional Purchase Settlement Date" and "Daily Additional Share Amount," respectively. 

    "Additional Purchase Settlement Date" means, for any Additional Purchase Date on which Additional Shares are purchased, the third
Exchange Business Day following such date. 

    "Aggregate Additional Share Amount" means, on any date of determination, the sum of the Daily Additional Share Amounts for each
Additional Purchase Date occurring on or prior to such date of determination. 

    "Daily Additional Share Amount" means, for any Additional Purchase Date, the aggregate purchase price of the Additional Shares
(excluding the Purchase Commission) purchased on such date, if any, by or on behalf of Share Seller. 

    10.  Collateral Agreement. (a) The parties agree that the Additional Shares shall constitute Collateral Shares
and Initial Shares for purposes of the Collateral Agreement and all the documents relating thereto. 

	(b)
	For
purposes of Section 2.1 of the Collateral Agreement, references to an Initial Period Date shall be deemed to include any Additional Purchase Date. 

    11.  Adjustments. The Calculation Agent shall make appropriate adjustments, if any, to interest and other calculations
under the Stock Purchase Agreement as a result of this Amendment, including, without limitation, to account for the amendment to the definition of Spread. Provisions of the Stock Purchase Agreement
authorizing appropriate adjustments to reflect purchases of Shares during the Initial Period shall be deemed to authorize appropriate adjustments to reflect the purchase of Additional Shares during
the Additional Purchase Period. 

    12.  Effect of the Amendment. Except as amended hereby, the Stock Purchase Agreement and the Collateral Agreement are
ratified and confirmed and continue in full force and effect. All references to the Stock Purchase Agreement or the Collateral Agreement in the Stock Purchase Agreement, the 

3

 

Collateral Agreement or any document related thereto shall for all purposes constitute references to the Stock Purchase Agreement or the Collateral Agreement, as the case may be, as amended hereby.
For the avoidance of doubt, the provisions of Section 9.10 of the Stock Purchase Agreement apply to this Amendment as if such provisions were stated in full herein. 

    13.  Miscellaneous. This Amendment constitutes the entire agreement and understanding of the parties with respect to its
subject matter and supersedes all oral communication and prior writings with respect thereto. No amendment, modification or waiver in respect of this Amendment will be effective unless in writing
(including a writing evidenced by a facsimile transmission) and executed by each of the parties. This Amendment may be executed and delivered in counterparts (including by facsimile transmission),
each of which will be deemed an original. The headings used in this Amendment are for convenience of reference only and are not to affect the construction of or to be taken into consideration in
interpreting this Amendment. 

    14.  Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK (WITHOUT GIVING EFFECT TO CHOICE OF LAW PRINCIPLES). 

4

 

    IN WITNESS WHEREOF, this Amendment has been duly executed as of the date first above written. 

	MANDALAY RESORT GROUP, as Share Purchaser
	

By:	
 	

/s/ GLENN SCHAEFFER   
 Name: Glenn Schaeffer

Title: President, Chief Financial Officer

and Treasurer
	

MBG TRUST, as the Trust
	

By:	
 	

WILMINGTON TRUST COMPANY,

not in its individual capacity but solely

as Trustee
	

 	
 	

By:	
 	

/s/ JEANNE M. OLLER   
 Name: Jeanne M. Oller

Title: Financial Services Officer
	

BANK OF AMERICA, N.A., as Share Seller
	

By:	
 	

/s/ WILLIAM C. CACCAMISE   
 Name: William C. Caccamise

Title: Authorized Signatory
	

BANC OF AMERICA SECURITIES LLC, as

Collateral Agent
	

By:	
 	

/s/ WILLIAM C. CACCAMISE   
 Name: William C. Caccamise

Title: Managing Director

5

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AMENDMENT TO STOCK PURCHASE AGREEMENT AND COLLATERAL AGREEMENT

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