Document:

Exhibit 10.8

 

CAPEX NOTE

 

	
  $862,069.00

  	
   

  	
  December 15, 2004

  

 

FOR
VALUE RECEIVED, the undersigned, MWI VETERINARY SUPPLY CO., an Idaho
corporation and MEMORIAL PET CARE, INC., an Idaho corporation (the “Borrower”)
jointly and severally promise to pay to the order of GENERAL ELECTRIC CAPITAL
CORPORATION (the “Lender”)
at the office of Bank of America, N.A., at 55 South Lake Avenue, Suite 900,
Pasadena, California 91101, as Agent (in its capacity as agent, the “Agent”)
for the financial institutions from time to time parties to that certain Credit
Agreement (as defined below), in lawful money of the United States of America
and in immediately available funds, the principal amount of Eight Hundred
Sixty-Two Thousand, Sixty-Nine Dollars ($862,069.00), or such lesser amount as
may then constitute the unpaid aggregate principal amount on the Termination
Date of the Loans made to the Borrowers.

 

The
Borrowers further agree to pay interest at said office, in like money, on the
unpaid principal amount owing hereunder from time to time from the date hereof
on the dates and at the rate specified in Article 2 of the Credit
Agreement.

 

If any
payment on this promissory note becomes due and payable on a day other than a
Business Day, the maturity thereof shall be extended to the next succeeding
Business Day, and with respect to payments of principal, interest thereon shall
be payable at the then applicable rate during such extension.

 

This
promissory note is one of the Notes referred to in the Credit Agreement, dated
as of June 18, 2002, by and among MWI VETERINARY SUPPLY CO., an Idaho
corporation, as the Borrower, the Agent and the Lenders, as amended by that
certain First Amendment to Credit Agreement dated as of August 13, 2002
and by that certain Second Amendment to Credit Agreement dated as of the date
hereof (as so amended, and as may be further amended supplemented, amended and
restated or otherwise modified from time to time, the “Credit Agreement”).  The Credit Agreement, among other things,
provides for the making of Loans by the Lenders to the Borrowers from time to
time in an amount not to exceed such Lender’s Pro Rata Share of Availability.

 

Upon
the occurrence of any one or more of the Events of Default specified in the
Credit Agreement, all amounts then remaining unpaid on this promissory note
shall become, or may be declared to be, immediately due and payable, all as
provided therein.

 

This
promissory note is secured by security agreements and other collateral
documents pursuant to the Credit Agreement.

 

The
Borrower hereby waives presentment, demand, protest and notice of any
kind.  No failure to exercise, and no
delay in exercising, any rights hereunder on the part of the holder hereof
shall operate as a waiver of such rights.

 

 

This
Note is issued in replacement of, and not in repayment of, one or more original
notes dated September 28, 2004, and issued pursuant to the Credit
Agreement.  This Note is not assignable
or otherwise transferable except in accordance with the Credit Agreement.

 

THE
VALIDITY, INTERPRETATION AND ENFORCEMENT OF THIS PROMISSORY NOTE SHALL BE
GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO
THE CONFLICT OF LAWS PRINCIPLES THEREOF.

 

	
   

  	
  MWI
  VETERINARY SUPPLY, CO.,

  an Idaho Corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Mary Pat B. Thompson

  	
   

  
	
   

  	
  Name:

  	
  Mary Pat B. Thompson

  	
   

  
	
   

  	
  Title:

  	
  Vice President and
  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MEMORIAL
  PET CARE, INC.,

  an Idaho Corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Mary Pat B.
  Thompson

  	
   

  
	
   

  	
  Name:

  	
  Mary Pat B. Thompson

  	
   

  
	
   

  	
  Title:

  	
  Vice President and
  Chief Financial Officer

  
	
   

  	
   

  	
   

  

 

[Note - GE Capital Corporation]

 

S-1Exhibit 10.9

 

NOTE

 

	
  $45,862,069.00

  	
   

  	
  December 15, 2004

  

 

FOR
VALUE RECEIVED, the undersigned, MWI VETERINARY SUPPLY CO., an Idaho
corporation, and MEMORIAL PET CARE, INC., an Idaho corporation (the “Borrowers”),
jointly and severally promise to pay to the order of BANK OF AMERICA, N.A. (the
“Lender”) at the office of Bank of America, N.A., at 55 South Lake
Avenue, Suite 900, Pasadena, California 91101, as Agent (in its capacity
as agent, the “Agent”) for the financial institutions from time to time
parties to that certain Credit Agreement (as defined below), in lawful money of
the United States of America and in immediately available funds, the principal
amount of Forty-Five Million, Eight Hundred Sixty-Two Thousand, Sixty-Nine
Dollars ($45,862,069.00), or such lesser amount as may then constitute the
unpaid aggregate principal amount on the Termination Date of the Loans made to
the Borrowers.

 

The
Borrowers further agree to pay interest at said office, in like money, on the
unpaid principal amount owing hereunder from time to time from the date hereof
on the dates and at the rate specified in Article 2 of the Credit
Agreement.

 

If any
payment on this promissory note becomes due and payable on a day other than a
Business Day, the maturity thereof shall be extended to the next succeeding
Business Day, and with respect to payments of principal, interest thereon shall
be payable at the then applicable rate during such extension.

 

This
promissory note is one of the Notes referred to in the Credit Agreement, dated
as of June 18, 2002, by and among MWI VETERINARY SUPPLY CO., an Idaho
corporation, as the Borrower, the Agent and the Lenders (as amended,
supplemented, amended and restated or otherwise modified from time to time, the
“Credit Agreement”).  Capitalized
terms used herein without definition shall have the meanings given to such
terms in the Credit Agreement.  The
Credit Agreement, among other things, provides for the making of Loans by the
Lenders to the Borrowers from time to time in an amount not to exceed such
Lender’s Pro Rata Share of Availability.

 

Upon
the occurrence of any one or more of the Events of Default specified in the
Credit Agreement, all amounts then remaining unpaid on this promissory note
shall become, or may be declared to be, immediately due and payable, all as
provided therein.

 

This
promissory note is secured by security agreements and other collateral
documents pursuant to the Credit Agreement.

 

The
Borrowers hereby waive presentment, demand, protest and notice of any
kind.  No failure to exercise, and no
delay in exercising, any rights hereunder on the part of the holder hereof
shall operate as a waiver of such rights.

 

 

This
Note is issued in replacement of, and not in repayment of, one or more original
notes dated September 28, 2004, and issued pursuant to the Credit
Agreement.  This Note is not assignable
or otherwise transferable except in accordance with the Credit Agreement.

 

THE
VALIDITY, INTERPRETATION AND ENFORCEMENT OF THIS PROMISSORY NOTE SHALL BE
GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO
THE CONFLICT OF LAWS PRINCIPLES THEREOF.

 

	
   

  	
  MWI
  VETERINARY SUPPLY, CO.,

  an Idaho Corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Mary Pat B.
  Thompson

  	
   

  
	
   

  	
  Name:

  	
  Mary Pat B. Thompson

  	
   

  
	
   

  	
  Title:

  	
  Vice President and
  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MEMORIAL
  PET CARE, INC.,

  an Idaho Corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Mary Pat B.
  Thompson

  	
   

  
	
   

  	
  Name:

  	
  Mary Pat B. Thompson

  	
   

  
	
   

  	
  Title:

  	
  Vice President and
  Chief Financial Officer

  
	
   

  	
   

  	
   

  

 

[Note - Bank of America, N.A.]

 

S-1Exhibit 10.10

 

NOTE

 

	
  $24,137,931.00

  	
   

  	
  December 15, 2004

  

 

FOR
VALUE RECEIVED, the undersigned, MWI VETERINARY SUPPLY
CO., an Idaho corporation, and MEMORIAL PET CARE. INC., an Idaho corporation
(the “Borrowers”) joint and severally promise to pay to the order of
GENERAL ELECTRIC CAPITAL CORPORATION (the “Lender”) at the office of
Bank of America, N.A., at 55 South Lake Avenue, Suite 900, Pasadena,
California 91101, as Agent (in its capacity as agent, the “Agent”) for
the financial institutions from time to time parties to that certain Credit
Agreement (as defined below), in lawful money of the United States of America
and in immediately available funds, the principal amount of Twenty-Four
Million, One Hundred Thirty-Seven Thousand, Nine Hundred Thirty-One Dollars
($24,137,931.00), or such lesser amount as may then constitute the unpaid
aggregate principal amount on the Termination Date of the Loans made to the
Borrowers.

 

The
Borrowers further agree to pay interest at said office, in like money, on the
unpaid principal amount owing hereunder from time to time from the date hereof
on the dates and at the rate specified in Article 2 of the Credit
Agreement.

 

If any
payment on this promissory note becomes due and payable on a day other than a
Business Day, the maturity thereof shall be extended to the next succeeding
Business Day, and with respect to payments of principal, interest thereon shall
be payable at the then applicable rate during such extension.

 

This
promissory note is one of the Notes referred to in the Credit Agreement, dated
as of June 18, 2002, by and among MWI VETERINARY SUPPLY CO., an Idaho
corporation, as the Borrower, the Agent and the Lenders (as amended,
supplemented, amended and restated or otherwise modified from time to time, the
“Credit Agreement”).  Capitalized
terms used herein without definition shall have the meanings given to such
terms in the Credit Agreement.  The
Credit Agreement, among other things, provides for the making of Loans by the
Lenders to the Borrowers from time to time in an amount not to exceed such
Lender’s Pro Rata Share of Availability.

 

Upon
the occurrence of any one or more of the Events of Default specified in the
Credit Agreement, all amounts then remaining unpaid on this promissory note
shall become, or may be declared to be, immediately due and payable, all as
provided therein.

 

This
promissory note is secured by security agreements and other collateral
documents pursuant to the Credit Agreement.

 

The
Borrower hereby waives presentment, demand, protest and notice of any
kind.  No failure to exercise, and no
delay in exercising, any rights hereunder on the part of the holder hereof
shall operate as a waiver of such rights.

 

 

This
Note is issued in replacement of, and not in repayment of, one or more original
notes dated September 28, 2004, and issued pursuant to the Credit
Agreement.  This Note is not assignable
or otherwise transferable except in accordance with the Credit Agreement.

 

THE
VALIDITY, INTERPRETATION AND ENFORCEMENT OF THIS PROMISSORY NOTE SHALL BE GOVERNED
BY THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO THE
CONFLICT OF LAWS PRINCIPLES THEREOF.

 

	
   

  	
  MWI
  VETERINARY SUPPLY, CO.,

  an Idaho Corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Mary Pat B.
  Thompson

  	
   

  
	
   

  	
  Name:

  	
  Mary Pat B. Thompson

  	
   

  
	
   

  	
  Title:

  	
  Vice President and
  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MEMORIAL
  PET CARE, INC.,

  an Idaho Corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Mary Pat B.
  Thompson

  	
   

  
	
   

  	
  Name:

  	
  Mary Pat B. Thompson

  	
   

  
	
   

  	
  Title:

  	
  Vice President and
  Chief Financial Officer

  
					

 

 

[Note -GE Capital Corporation]

 

S-1

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