Document:

<PAGE>
                                                                   Exhibit 10.47
                             INTERCREDITOR AGREEMENT

      This Intercreditor Agreement (this "Agreement") is dated as of June 1,
2000, and is entered into by and among TEXAS COMMUNITY BANK AND TRUST, N.A.
("Texas Community"), THE TEXAS MEZZANINE FUND, INC. ("Texas Mezzanine") and BANK
OF AMERICA, N.A. ("Bank of America") (Texas Community, Texas Mezzanine and Bank
of America sometimes herein referred to individually as "Party" and collectively
as "Parties").

A.    Texas Community has established a revolving credit facility in the amount
of $750,000.00 (the "Texas Community Facility") for MWI, INC., d/b/a DANAM
ELECTRONICS (the "Debtor"), which has an address at 4230 Shilling Way, Dallas,
Texas 75237 and pursuant to a security agreement has obtained a security
interest in certain property of the Debtor described on Exhibit A ("Texas
Community's Collateral").

B.    Texas Mezzanine has made a loan to the Debtor in the original principal
amount of $500,000 (the 'Texas Mezzanine Facility"), and pursuant to a security
agreement has obtained a security interest in certain property of the Debtor
described on Exhibit B ("Texas Mezzanine's Collateral").

C.    Bank of America has established a revolving credit facility for the Debtor
in the amount of $2,000,000 (the "Bank of America Facility"), and pursuant to a
security agreement has obtained a security interest in certain property of the
Debtor described on Exhibit C ("Bank of America's Collateral").

D.    Each of Texas Community's Collateral, Texas Mezzanine's Collateral and
Bank of America's Collateral may be the same as the collateral held by one or
more of the other Parties hereto.

E.    Texas Community and Texas Mezzanine have entered into an Intercreditor
Agreement dated or effective August 3, 1999 (the "Prior Intercreditor
Agreement") pursuant to which Texas Community and Texas Mezzanine had
established relative priorities in the Texas Community Collateral and the Texas
Mezzanine Collateral.

F.    Texas Community, Texas Mezzanine and Bank of America would like to agree
upon the priority of their respective security interests in the Texas Community
Collateral, the Texas Mezzanine Collateral and the Bank of America Collateral
(collectively, the "Assets").

In consideration of the premises and mutual covenants contained in this
Agreement, the parties agree as follows:

1.    Priorities. The Parties shall have the following priority in the Assets:

      (a)   Texas Community Bank shall have the prior and superior lien on (i)
            those specific Assets consisting of Domestic Accounts (as defined in
            Section 5 below) and Domestic Inventory (as defined in Section 5
            below) and (ii) those specific Assets in which Texas Community Bank
            has a valid and enforceable "purchase money

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<PAGE>

            security interest" as defined in the UCC ("PMSI") in connection with
            advances made to the Debtor; provided, that such lien secures
            Permitted Indebtedness (as defined in Section 5 below).

      (b)   Texas Mezzanine shall have the prior and superior lien on (i) those
            specific Assets consisting of equipment (as defined in the UCC, and
            hereinafter referred to as "Equipment") and (ii) those specific
            Assets in which Texas Mezzanine has a valid and enforceable PMSI in
            connection with advances made to the Debtor; provided, that such
            lien secures Permitted Indebtedness.

      (c)   Bank of America shall have the prior and superior lien on (i) those
            specific Assets consisting of Export-Related Accounts (as defined in
            Section 5 below) and Export-Related Inventory (as defined in Section
            5, below), (ii) those specific Assets in which Bank of America has a
            valid and enforceable PMSI in connection with advances made to the
            Debtor, and (iii) those specific Assets that are not described in
            (a) or (b) of this Section 1; provided, that such lien secures
            Permitted Indebtedness.

      (d)   Texas Mezzanine shall have a second priority lien on the Domestic
            Accounts and the Domestic Inventory.

      (e)   Texas Community shall have a second priority lien on Equipment.

      (f)   Bank of America shall have a third priority lien on Domestic
            Accounts, Domestic Inventory and Equipment.

      (g)   Neither Texas Community nor Texas Mezzanine shall have any lien on
            the Export-Related Accounts or the Export-Related Inventory.

2.    Effectiveness of Priorities. The priorities set forth in this Agreement
will be effective regardless of the order in which the parties respective
security interests in the Assets were created or perfected; provided, that the
priorities established in Section 1 shall not apply as to any Party whose lien
(a) is not then perfected, (b) is a voidable preference under the U.S.
Bankruptcy Code, 11 U.S.C. Section 101 et seq or (c) is held by a final order of
a court of competent jurisdiction to be unenforceable.

3.    Remedies Undisturbed. Except as provided in this Agreement, each party is
entitled to pursue remedies arising from its respective security interests in
the Property and may otherwise proceed in any manner permitted by any properly
created and perfected security interest.

4.    Notification of Default. Upon the occurrence of any monetary event of
default under either the Texas Community Facility, the Texas Mezzanine Facility
or the Bank of America Facility or upon the acceleration of any indebtedness
under either of the aforementioned facilities, the Party under whose facility
such event of default or acceleration has occurred, shall notify the other
Parties in writing, specifically referencing this Agreement, specifying the type
of default that has occurred and that the notifying Party has declared such an
event of default or

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otherwise accelerated or attempted to accelerate its respective facility or to
exercise any other right or remedy at law or in equity against the Debtor;
provided, that no Party shall be liable for monetary damages for any failure to
so notify. The notice shall include a statement in the form of a certificate of
an officer of the respective Party of the outstanding indebtedness owed to such
Party. Each Party, in its sole discretion, also may assert any rights under
applicable bankruptcy, insolvency, reorganization, receivership, liquidation or
other similar proceedings.

5.    Certain Definitions. "Domestic Accounts" shall mean all Accounts (as
hereinafter defined) that are not Export-Related Accounts. "Domestic Inventory"
shall mean all inventory that is not Export-Related Inventory. "Export-Related
Accounts" shall mean Accounts and related general intangibles of the Debtor
arising from the sale of finished goods or services that are intended for export
from the United States. "Export-Related Inventory" shall mean inventory of the
Debtor that is located in the United States that has been purchased,
manufactured or otherwise acquired by the Debtor for resale pursuant to a
written export order or contract for the purchase by a buyer of finished goods
or services that are intended for export from the United States. "Permitted
Indebtedness" shall mean (a) with respect to the Texas Community Facility,
$750,000 plus Default Expenses, (b) with respect to the Texas Mezzanine
Facility, $500,000 plus Default Expenses and (c) with respect to the Bank of
America Facility, $2,000,000 plus Default Expenses. "Default Expenses" shall
mean, with respect to each Party's facility, accrued and unpaid interest, plus
the amount of any advances made by such Party pursuant to such Party's loan
documents to pay taxes or insurance premiums, to prevent waste or to otherwise
preserve the condition of the Assets in which such Party has a security
interest, plus all reasonable costs and expenses (including court costs and
reasonable attorneys' fees) incurred by such Party in connection with its
facility. "Accounts" shall mean (a) accounts (as defined in the UCC), other
receivables, book debts and other forms of obligations, whether arising out of
goods sold or services rendered or from any other transaction, (b) rights in, to
and under all purchase orders or receipts for goods and services, (c) rights to
any goods represented or purported to be represented by any of the foregoing
(including unpaid sellers' rights of rescission, replevin, reclamation and
stoppage in transit and rights to returned, reclaimed or repossessed goods), (d)
moneys due or to become due to the Debtor under all purchase orders and
contracts for the sale of goods or the performance of services or both by the
Debtor (whether or not yet earned by performance on the part of the Debtor),
including the proceeds of the foregoing; (e) any notes, drafts, letters of
credit, insurance proceeds or other instruments, documents and writings
evidencing or supporting the foregoing and (f) all collateral security and
guarantees of any kind given with respect to any of the foregoing.

6.    Distribution of Proceeds. Any funds received from or on behalf of the
Debtor by any Party through the foreclosure and liquidation of the Assets after
an event of default shall have occurred shall be distributed according to the
priorities established in Section 1 hereof. If an event of default has occurred
and only one or two Parties have accelerated their respective loans, and the
other Party (or Parties) has received the notice set forth in Section 4 above,
the non-accelerating Party (or Parties) shall have ten (10) days after receipt
of such notice in which to declare an event of default, accelerate its loans and
join in any foreclosure and liquidation of the Assets. Absent such declaration,
acceleration and joinder, the Party or Parties accelerating its loans shall
proceed with whatever action it deems necessary or appropriate. Notwithstanding

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<PAGE>

anything in this Section 6 to the contrary, no Party shall have any duty beyond
that prescribed in the Uniform Commercial Code as adopted in Texas (the "UCC").

7.    Accounting by Liquidating Party. Any distribution by the liquidating Party
of the portion of the proceeds due to the other Party shall be accompanied by an
accounting showing the Assets liquidated, the costs of preparing the Assets for
sale, the costs of the sale, the net proceeds upon liquidation of the Assets,
the amount retained by the liquidating Party and the amount distributed to the
other Party or Parties.

8.    No Notice of Extensions. Each Party waives notice of any and all
extensions, renewals and/or modifications of Debtor's obligations to the other,
and each Party may make loans or extend credit to Debtor from time to time at
Debtor's request and without further authorization from or notice to any other
Party; provided, in each case, that the aggregate amount of loans and credit
accommodations in favor of Debtor by such Party does not exceed such Party's
Permitted Indebtedness. No Party need inquire into the power or authority of
Debtor, or its officers, directors or agents acting or purporting to act on its
behalf.

9.    Bankruptcy. In the event a voluntary or involuntary petition under any
bankruptcy or insolvency law of the United States or any state is brought by or
against Debtor, or other proceedings instituted for the reorganization,
readjustment of debt, dissolution or liquidation of Debtor whether voluntary of
involuntary, then each party to this Agreement will have any and all remedies
available to it with respect to the relative priority of their respective
security interest in the Property as set forth in this Agreement.

10.   No Creation of Security Interest. The provisions of this Agreement will
not be deemed to create a security interest in Assets where none would exist
absent this Agreement.

11.   Benefit: Binding Nature: Assignment. This Agreement is entered into solely
for the benefit of Texas Community, Texas Mezzanine and Bank of America and
their successors and assigns, and no other person or persons will have any
right, benefit or priority interest under or because of the existence of this
Agreement. This Agreement will be binding upon Texas Community, Texas Mezzanine
and Bank of America and their successors and assigns. Each Party agrees that
prior to any assignment, sale or transfer of any rights, claims or interests in
or to the loan documents with respect to any Party's facility, such Party shall
provide the assignee, purchaser or transferee with a copy of this Agreement and
such Party shall deliver ten (10) days prior written notice to each other Party.
Any such assignment shall be subject to this Agreement.

12.   Notice. Any notice to be given under this Agreement shall be in writing
and shall be delivered or mailed by Registered or Certified United States Mail
postage prepaid or by any prepaid courier service and addressed to each Party as
follows:

If to Texas Community                  Texas Community Bank and Trust,
                                       N.A.
                                       8235 Douglas Avenue, Suite 100
                                       Dallas, Texas 75225
                                       Attn: Mr. Wayne A. Spencer

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If to Texas Mezzanine                      Texas Mezzanine Fund, Inc.
                                           1402 Corinth Street, Suite 1150
                                           Dallas, Texas 75215

If to Bank of America                      901 Main Street, 7th Floor
                                           TX 1-492-07-01
                                           Dallas, Texas 75202
                                           Attn: Commercial Banking Group

13.   Termination. This Agreement shall continue in full force and effect and
shall be irrevocable by any party hereto until the earlier to occur of the
following:

            a.    The parties mutually agree in writing to terminate this
                  Agreement; or

            b.    All of the obligations owed by the Debtor to all of the
                  parties hereto are fully paid and satisfied and the respective
                  security interests have been terminated and released of
                  record.

14.   Waiver. No waiver of any of the provisions of this Agreement will be
deemed to be made unless the same is specifically waived or released by a party
in writing, notice of which is given to all other parties.

15.   Representations and Warranties. The Parties hereto represent and warrant
that the facts contained in the Recitals herein in regard to their own facility
are true and correct.

16.   Amendment. This Agreement may be amended or modified only by an agreement
in writing signed by all parties hereto.

17.   Governing Law. This Agreement will be governed by and construed in
accordance with the laws of the State of Texas. Venue of any suit arising
hereunder shall lie in state or federal courts located in Dallas County, Texas.

18.   Costs. In the event any suit or action is instituted to enforce or
interpret any provision of this Agreement, the prevailing party will be entitled
to recover from the other contesting party or parties such sum as the court may
determine as reasonable attorneys' fees and in addition, costs of suit or other
sum provided by law.

19.   Counterparts. This Agreement may be executed in any number of
counterparts, all of which, taken together, shall constitute one and the same
instrument, and any of the parties hereto may execute this Agreement by signing
any such counterpart.

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<PAGE>

20.   Supercedes Prior Agreements. This Agreement supercedes any prior agreement
(whether oral or written) between any of the parties hereto with respect to the
parties' respective priority in the Debtor's property, including (without
limitation) the Prior Intercreditor Agreement.

                                     TEXAS COMMUNITY BANK AND TRUST, N.A.

                                     By: /s/ Wayne A. Spencer
                                         ---------------------------------------
                                     Name:  Wayne A. Spencer
                                     Its: EVP

                                     THE TEXAS MEZZANINE FUND, INC.

                                     By: /s/ Theresa Lee
                                         ---------------------------------------
                                     Name:  Theresa Lee
                                     Its:  Vice President

                                     BANK OF AMERICA, N.A.

                                     By: /s/ Richard Vitale
                                         ---------------------------------------
                                     Name: Richard Vitale
                                     Its: Assistant Vice President

                                       6

<PAGE>

                       DEBTOR'S ACKNOWLEDGMENT AND CONSENT

The undersigned Debtor hereby acknowledges and agrees to the foregoing
Intercreditor Agreement. Debtor agrees to be bound by the terms and provisions
thereof as they relate to the relative rights of the Parties with respect to
each other. However, nothing therein shall be deemed to amend, modify, supersede
or otherwise alter the terms of the respective agreements between the Debtor and
each Party (the "Loan Agreement") and in the event of any inconsistency or
conflict between the terms of the Loan Agreements and the Intercreditor
Agreement, the Loan Agreements shall govern as between the Debtor and each
Party. The Debtor agrees that each Party holding collateral may serve as bailee
for the other Party and each Party is hereby authorized to turn such collateral
over to such other Party. Debtor further agrees that the Intercreditor Agreement
is solely for the benefit of the Parties and shall not give the Debtor, its
successors and assigns, or any other person, any rights vis-a-vis either
Party.

                                     MWI,INC.

                                     By: /s/ Jerry West
                                         ----------------------
                                     Name : Jerry West
                                     Title: PRESIDENT

                                       7

<PAGE>

                                    EXHIBIT A

                         (TEXAS COMMUNITY'S COLLATERAL)

                                       8

<PAGE>

                                    EXHIBIT B

                         (TEXAS MEZZANINE'S COLLATERAL)

                                       9

<PAGE>

                                    EXHIBIT C

                         (BANK OF AMERICA'S COLLATERAL)<PAGE>
                                                                   Exhibit 10.48

                                 PROMISSORY NOTE

$558,000.00                                                  NOVEMBER 20th, 2003

      FOR VALUE RECEIVED, DREW SCIENTIFIC, INC., a Texas corporation
("Borrower"), promises to pay to the order of TEXAS MEZZANINE FUND INC.
("Lender"), located at 351 West Jefferson Blvd., Suite 800, Dallas, Texas 75208,
or such other place as the holder of this Note may from time to time designate
in writing, the principal sum of Five Hundred Fifty-Eight Thousand and No/100
Dollars ($558,000.00), or so much thereof as may be advanced in lawful money of
the United States, with interest accruing on the unpaid principal balance from
time to time remaining unpaid prior to maturity as follows:

      1. Payments of Principal and Interest. The principal and interest of this
Note shall be payable as follows:

            (a) Interest on the Note shall accrue at the rate of 8.0% per annum
      (the "Base Rate"), subject to adjustment as provided for in subparagraph
      l(b) below, and shall be calculated at a daily rate equal to 1/360th of
      the annual percentage rate which this Note bears, based on the actual
      number of days elapsed.

            (b) On July 1, 2005, and thereafter on June 1 of each succeeding
      year thereafter, the interest rate on the Note shall be adjusted to a rate
      equal to the lesser of (i) the greater of the Base Rate or the Prime Rate
      (as hereafter defined) plus 4.0% (the "Stated Rate"), or (ii) the Maximum
      Rate (as hereafter defined). The "Prime Rate" is the rate published by the
      Wall Street Journal as the prime rate. If the Stated Rate at any time
      exceeds the Maximum Rate, the actual rate of interest to accrue on the
      unpaid principal amount of the Note will be limited to the Maximum Rate,
      but any subsequent reductions in the Stated Rate due to reductions in the
      Prime Rate will not reduce the interest rate payable upon the unpaid
      principal amount of the Note below the Maximum Rate until the total amount
      of interest accrued on this Note equals the amount of interest which would
      have accrued if the Stated Rate had at all times been in effect.

            (c) Installments equal to the amount of all accrued interest only
      shall be due and payable monthly commencing on the 1st day of January,
      2004, and on the 1st day of each consecutive month through and including
      June, 2004.

            (d) Installments of principal and interest in the amount of Fourteen
      Thousand Two Hundred and No/100 Dollars ($14,200.00) shall be due and
      payable monthly commencing on the 1st day of July, 2004, with a like
      installment due and payable on the first day of each succeeding month
      thereafter to maturity. All payments made as scheduled on this Note (i.e.,
      after deducting all other charges and impositions prescribed elsewhere in
      this Note or in documents securing payment of this Note) shall be applied,
      to the extent thereof, first to accrued but unpaid interest and the
      balance to unpaid principal.

      2. Maturity. This Note shall mature (i.e., all outstanding principal,
together with all accrued interest which has not been paid, shall be due and
payable in full) on June 1, 2008.

      3. Prepayment. For the purposes of this paragraph 3, the term "prepayment"
shall mean an event whereby the loan evidenced by this Note is voluntarily fully
satisfied prior to the maturity date and shall not include any payment after
default, any payment after the acceleration of this Note, any payment by any
sale under court order, foreclosure, power of sale or deed in lieu of
foreclosure, or any payment by sale or other method under any bankruptcy or
insolvency proceedings, or any prepayment due to the receipt of insurance
proceeds or condemnation awards. Borrower shall have the right to prepay all,
but not part, of the unpaid principal balance of this Note provided the
following conditions are satisfied:

            (a) Borrower is not in default under the terms of this Note, the
      Security Instrument (as defined below) or any other document evidencing,
      governing or securing the loan evidenced by this Note (collectively, the
      "Loan Documents").

                                                     INITIALED BY KRD
PROMISSORY NOTE - Page 1                             BORROWER _______________

<PAGE>

            (b) Borrower has notified Lender in writing of its election and
      commitment to prepay at least thirty (30) days prior to the date the
      prepayment will be made (the "Prepayment Date"), with such notice to
      specify the Prepayment Date and the total amount of all sums to be paid.

            (c) Borrower pays Lender a prepayment fee equal to:

                  (i) Twenty Thousand and No/100 Dollars ($20,000.00) in the
            event prepayment occurs on or prior to March 31, 2005;

                  (ii) Fifteen Thousand and No/100 Dollars ($15,000.00) in the
            event prepayment occurs during the period commencing on April 1,
            2005 and ending March 31, 2006; and

                  (iii) Ten Thousand and No/100 Dollars ($10,000.00) in the
            event prepayment occurs during the period commencing on April 1,
            2006 and ending March 31, 2007.

      No prepayment fee shall be due in the event prepayment occurs on or after
      April 1, 2007.

            (d) Any prepayment of principal permitted hereunder shall be
      accompanied by payment of all unpaid accrued interest on this Note and all
      other sums then due and payable pursuant to this Note, the Security
      Instrument and any other Loan Document.

            (e) Borrower and Lender acknowledge and agree that if the unpaid
      principal balance of this Note is prepaid, then Lender shall receive the
      applicable prepayment fee as partial compensation for the cost to Lender
      of reinvesting the prepayment proceeds and for the loss to Lender of the
      contracted for return on the loan evidenced by this Note. Borrower and
      Lender further acknowledge and agree that the applicable prepayment fee is
      reasonable.

      4. Partial Payment. If Lender at any time receives or accepts payment from
or for the account of Borrower of less than the full amount when due on this
Note, such receipt or acceptance shall, unless Lender expressly agrees otherwise
in writing, be deemed a payment on account only, and shall not cure any default
existing by reason of failure to pay the full amount when due, nor preclude the
exercise of any remedy of Lender including, but not limited to, acceleration of
any unmatured portion hereof, or foreclosure on any security.

      5. Security Instrument. This Note is secured by, among other things, the
provisions of a certain Security Agreement (the "Security Instrument") dated of
even date herewith, executed by Borrower and covering the collateral more fully
described in the Security Instrument.

      6. Events of Default and Remedies. At the option of the holder of this
Note, the entire unpaid principal balance of, and all accrued interest on, this
Note shall immediately become due and payable upon the occurrence at any time of
any one or more of the following (herein referred to as an "Event of Default"):

            (a)   Borrower shall fail to pay the principal of or interest on
                  this Note as and when the same becomes due and payable in
                  accordance with the terms hereof, and such failure shall
                  continue for a period of ten (10) days after receipt of
                  written notice from Lender specifying such failure, provided,
                  however, that Lender shall be obligated to give only one (1)
                  such notice in any calendar year and, after the giving of such
                  one notice, Lender shall be entitled to exercise its remedies
                  upon any subsequent default occurring within such calendar
                  year without any requirement of notice; or

            (b)   Borrower or any other party shall fail to perform any other
                  covenant, condition, obligation or agreement set forth in this
                  Note, the Security Instrument or any other Loan Document,

                                                 INITIALED BY KRD
PROMISSORY NOTE - Page 2                         BORROWER _______________

<PAGE>

                  other than as set forth in paragraph 6(a) above, and such
                  failure shall continue for a period of thirty (30) days after
                  receipt of written notice from Lender specifying such failure;
                  or

            (c)   There shall occur any default or event of default specified in
                  any Loan Document, other than as set forth in paragraphs 6(a)
                  and 6(b) above.

      If an Event of Default shall occur, Lender may (i) declare the entire
balance of this Note, principal and interest, immediately due and payable, (ii)
exercise any rights under the Security Instrument or any other right contained
in any other Loan Document, and (iii) exercise any other remedy provided by law
or equity. No remedy referred to herein is intended to be exclusive, but each
shall be cumulative, and the exercise or beginning of exercise by Lender of any
one or more of such remedies should not preclude the simultaneous or later
exercise of any or all of such remedies. Any failure of Lender to exercise any
rights or remedies available to Lender if an Event of Default should occur shall
not constitute a waiver of Lender's right to exercise such rights or remedies in
the event of any subsequent Event of Default.

      7. Past Due Interest and Late Charge. Lender may collect, to the extent
not proscribed by applicable law, a late charge for any payment of principal,
interest or any other sum due under the Loan Documents not made within ten (10)
days after its due date, such late charge to be in an amount equal to five
percent (5%) of the past due payment, provided that such late charge shall not,
when computed together with all other interest to be paid on the indebtedness
evidenced by this Note or indebtedness arising under any instrument securing the
payment hereof, exceed the Maximum Rate (as defined below). In addition, at
Lender's option, all past-due principal and, to the extent not proscribed by
applicable law, all past-due interest, shall bear interest at the Maximum Rate
or if applicable law shall not provide for a maximum nonusurious rate of
interest, at a rate per annum equal to eighteen percent (18%).

      8. Controlling Agreement. All agreements between Borrower and Lender,
whether now existing or hereafter arising and whether written or oral, are
hereby limited so that in no contingency or event whatsoever, whether by reason
of demand or acceleration of the maturity hereof or otherwise, shall the
interest contracted for, charged, received, paid or agreed to be paid to Lender
exceed interest computed at the Maximum Rate (as defined below). If, from any
circumstance whatsoever, interest would otherwise be payable to Lender in excess
of interest computed at the Maximum Rate, the interest payable to Lender shall
be reduced to interest computed at the Maximum Rate; and if from any
circumstance Lender shall ever receive anything of value deemed interest by
applicable law in excess of interest computed at the Maximum Rate, an amount
equal to any excessive interest shall be applied to the reduction of the
principal hereof and not to the payment of interest, or if such excessive
interest exceeds the unpaid balance of principal hereof, such excess shall be
refunded to the Borrower. All interest paid or agreed to be paid to Lender
shall, to the extent permitted by applicable law, be amortized, prorated,
allocated, and spread throughout the full period until payment in full of the
principal (including the period of any renewal or extension hereof) so that the
interest hereon for such full period shall not exceed interest computed at the
Maximum Rate. This section shall control all agreements between Borrower and
Lender. The term "Maximum Rate" shall mean the highest lawful rate of interest
applicable to the loan transaction evidenced by this Note taking into account
whichever of applicable federal law or Texas law permits the higher rate of
interest, and after also taking into consideration all compensation deemed
interest under applicable law.

      9. Waiver. Except as expressly otherwise provided for herein, Borrower and
all other parties now or hereafter liable or responsible for the payment of this
Note, whether as endorser, guarantor, surety or otherwise, severally waive
demand, presentment, presentment for payment, notice of intent to demand, notice
of nonpayment, notice of dishonor, diligence in collecting, grace, notice
(including notice of intent to accelerate and notice of acceleration) and
protest and consent to all renewals and extensions that from time to time may be
granted by the holder of this Note and to all partial payments herein, whether
before or after maturity. Borrower hereby further agrees that no act or omission
of Lender with reference to any property securing or intended to secure this
Note, including but not limited to failure to file or perfect any lien or
security interest, shall release the absolute obligation of Borrower and each
such endorser, guarantor or surety to pay this Note as and when due.

      10. Cumulative Rights. No delay on the part of Lender or other holder of
this Note in the exercise of any power or right under this Note, under the
Security Instrument, or under any other Loan Document, shall operate as a

                                                   INITIALED BY KRD
PROMISSORY NOTE - Page 3                           BORROWER _______________

<PAGE>

waiver thereof, nor shall a single or partial exercise of any power or right
preclude other or further exercise thereof or exercise of any other power or
right. Enforcement by Lender or other holder of this Note of any security for
the payment hereof shall not constitute any election by it of remedies so as to
preclude the exercise of any other remedy available to it.

      11. Attorneys' Fees and Costs. If this Note or any installment or part
hereof is not paid when due and the same is placed in the hands of an attorney
for collection, or if this Note is collected by suit or through bankruptcy,
probate or other proceedings, Borrower agrees to pay the reasonable attorneys'
fees of the holder of this Note, together with all actual expenses of collection
and litigation and costs of court incurred by the holder of this Note.

      12. Notices. Any notice or demand required or to be given hereunder shall
be in writing, and shall be deemed to have been given and received when
deposited in a post office or official depository of the United States Postal
Service, sent by certified mail, postage prepaid, return receipt requested,
addressed as follows:

          If to Borrower:        Drew Scientific, Inc.
                                 4230 Shilling Way Dallas,
                                 Texas 75237
                                 Attn: Keith Drew

          If to Lender:          Texas Mezzanine Fund Inc.
                                 351 West Jefferson Blvd., Suite 800
                                 Dallas, Texas 75208
                                 Attn: Theresa Lee

The addresses set forth in this Note may be changed by any party by giving
notice of such change to the other party in the manner provided herein for
giving notice.

      13. Severability. In case any of the provisions of this Note shall for any
reason be held to be invalid, illegal or unenforceable, such invalidity,
illegality or unenforceability shall not affect any other provision hereof and
this Note shall be construed as if such invalid, illegal or unenforceable
provision had never been contained herein.

      14. GOVERNING LAW. THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS AND THE LAWS OF THE UNITED STATES
APPLICABLE TO TRANSACTIONS IN TEXAS.

      15. JURISDICTION AND VENUE. ALL ACTS CONTEMPLATED BY THIS NOTE SHALL BE
PERFORMABLE IN DALLAS COUNTY, TEXAS, AND ALL SUMS PAYABLE UNDER THIS NOTE SHALL
BE PAYABLE IN DALLAS COUNTY, TEXAS. BORROWER HEREBY CONFIRMS AND AGREES THAT ALL
LEGAL ACTIONS INVOLVING THE VALIDITY OR ENFORCEMENT OF THIS NOTE SHALL HAVE
JURISDICTION AND VENUE IN DALLAS COUNTY, TEXAS.

      16. Headings. The headings of the paragraphs of this Note are inserted for
convenience only and shall not be deemed to constitute a part hereof.

      17. Successors and Assigns. This Note and all of the covenants, promises
and agreements contained herein shall be binding upon and shall inure to the
benefit of Borrower and Lender and their respective executors, administrators,
successors and assigns.

      18. Modification, Renewal and Extension. This Note is executed and
delivered by the Borrower in renewal and extension, but not in extinguishment,
of the unpaid indebtedness evidenced by, and in modification of the terms of
payment of, that certain Promissory Note dated August 3, 1999, in the stated
principal amount of $500,000.00, executed by MWI, Inc. (now known as Borrower
pursuant to those certain Articles of Amendment to the Articles of Incorporation

                                                   INITIALED BY KRD
PROMISSORY NOTE - Page 4                           BORROWER _______________

<PAGE>

of MWI, Inc. filed with the Texas secretary of State's Office on November 7,
2002) and payable to the order of the Lender.

      19. FINAL AGREEMENT. THIS NOTE AND THE OTHER LOAN DOCUMENTS EXECUTED IN
CONNECTION WITH THE DISBURSEMENT OF FUNDS EVIDENCED BY THIS NOTE, REPRESENT THE
FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE
NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

                                           DREW SCIENTIFIC, INC.,
                                           a Texas corporation

                                           By: /s/ Keith Drew
                                               ----------------------
                                           Name: Keith Drew
                                           Title: President

PROMISSORY NOTE - Page 5

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