Document:

Unassociated Document

    EXHIBIT
      4.2

     

     

    

    MULTI-MONTH
      DEFERRAL

    

    

    CONSENT
      OF HOLDER OF 15% SECURED CONVERTIBLE PROMISSORY NOTES DATED JANUARY 13, 2006
      AND/OR DATED JANUARY 22, 2007 TO DEFER PAYMENTS

    

    This
      Consent is executed and delivered on this 13th day of August 2007 by the
      undersigned holder of the 15% Secured Convertible Promissory Notes issued by
      Matritech, Inc. (the “Borrower”) on January 13, 2006 (the
“Series A Notes”) pursuant to the Securities Purchase
      Agreement, dated as of January 13, 2006, by and among the Borrower and the
      purchasers party thereto and previously amended on January 22, 2007 and July
      27,
      2007 (the “Series A Purchase Agreement”) and/or the undersigned
      holder of the 15% Secured Convertible Promissory Notes issued by the Borrower
      on
      January 22, 2007 (the “Series B Notes”) pursuant to the
      Securities Purchase Agreement, dated as of January 22, 2007, by and among the
      Borrower and the purchasers party thereto and previously amended on July 27,
      2007 (the “Series B Purchase Agreement”).  The
      undersigned holder of the Series A Notes shall be referred to as a
“Series A Holder.”  The undersigned holder of the
      Series B Notes shall be referred to as a “Series B
Holder.”  All capitalized terms used in this
      Consent but not otherwise defined herein shall have the meanings ascribed to
      such terms in the Series A Purchase Agreement and the Series B Purchase
      Agreement, respectively.

    

    1.           Each
      undersigned Series A Holder hereby consents to the deferral of all payments
      of
      principal and interest due to the undersigned from the Borrower at any time
      on
      or after August 13, 2007 on the Series A Notes until the earlier of (a) a Change
      of Control of the Borrower (as defined in the Series A Notes) or (b) the
      Scheduled Maturity Date.

    

    2.           Each
      undersigned Series B Holder hereby consents to the deferral of all payments
      of
      principal and interest due to the undersigned from the Borrower at any time
      on
      or after August 13, 2007 on the Series B Notes until the earlier of (a) a Change
      of Control of the Borrower (as defined in the Series B Notes) or (b) the
      Scheduled Maturity Date.

    

    3.  
This
      Consent may be executed in multiple counterparts, each of which shall be deemed
      an original but all of which together shall constitute one and the same
      instrument, and by facsimile transmission or portable document format (“pdf”),
      which facsimile or pdf signatures shall be considered original executed
      counterparts.  This Consent shall be binding upon all Series A Holders
      and Series B Holders signing this Consent regardless of whether or not all
      other
      holders of Series A Notes and Series B Notes sign this Consent.

    

    

    [Remainder
      of Page Intentionally Left Blank]

     

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

     

    IN
      WITNESS WHEREOF, the undersigned Series A Holder and/or the undersigned Series
      B
      Holder has executed this Consent as of the day first above written.

     

     

    
 

    
      	
               

            	
              Holder:
                _______________________

            

    

    

     

    

    By:__________________________

    Name:________________________

    Title:_________________________

    Date:_________________________exhibit10_1.htm

    Exhibit
      10.1

    AMENDMENT
      TO LOAN DOCUMENTS

    

    

    THIS
      AMENDMENT TO LOAN DOCUMENTS (the “Amendment”), dated as of August 29, 2007, is
      among DOUGHERTY’S PHARMACY, INC., a Texas corporation, ALVIN MEDICINE MAN, LP, a
      Texas limited partnership, ANGLETON MEDICINE MAN, LP, a Texas limited
      partnership, and SANTA FE MEDICINE MAN, LP, a Texas limited partnership (each
      individually, a “Borrower,” and collectively, “Borrowers”), and AMEGY
      BANK NATIONAL ASSOCIATION, a national banking association
      (“Lender”).

    

    RECITALS:

    

    A.
      Borrowers and Lender have entered
      into that certain Loan Agreement (the “Agreement”) dated as of February 20,
      2007.

    

    B.
      Pursuant to the Agreement, Ascendant Solutions, Inc., a Delaware corporation,
      Dougherty’s Holdings, Inc., a Texas corporation, Medicine Man, LP, a Texas
      limited partnership, Dougherty’s LP Holdings, Inc., a Nevada corporation,
      Medicine Man GP, LLC, a Texas limited liability company, Alvin Medicine Man
      GP,
      LLC, a Texas limited liability company, Angleton Medicine Man GP, LLC, a Texas
      limited liability company, and  Santa Fe Medicine Man GP, LLC, a Texas
      limited liability company (each, a “Guarantor”) each executed a Guaranty
      Agreement (each, a “Guaranty”) of even date with the Agreement, which guaranteed
      to Lender the payment and performance of the Obligations (as defined in the
      Agreement).

    

    C.
      Borrowers and Lender now desire to (i) increase the amount of the Revolving
      Loan
      (as defined in the Agreement, (ii) modify the Loan Documents (as defined in
      the
      Agreement) to provide for a new advance loan, and (iii) modify certain of the
      other terms and provisions of the Loan Documents, all as more particularly
      set
      forth herein.

    

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

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

    

    ARTICLE
      I

    

    Definitions

    

    Section 1.01.
      Definitions.  Capitalized terms used in this Amendment, to the
      extent not otherwise defined herein, shall have the same meanings as in the
      Agreement, as amended hereby.

    

    

    

    ARTICLE
      II

    

    Amendments

    

    Section 2.01.
      Amendment to Definitions.  Effective as of the date hereof, the
      following defined terms in Section 1.01 of the Agreement shall be amended to
      read as follows:

    

    “Advance
      Loans” means an advance of funds by Lender to Borrower pursuant to Articles
      II, III or IIIA.

    

    “Loans”
      means, collectively, the Revolving Loan, the Term Loan, and the Advance
      Loan.

    

    “Notes”
      means, collectively, the Revolving Note, the Term Note, and the Advance
      Note.

    

    “Pharmaceutical
      Cap” means $1,500,000.00 at all times.

    

    “Revolving
      Credit Commitment” means the obligation of Lender to make Advances hereunder
      in an aggregate principal amount at any one time outstanding up to but not
      exceeding Two Million Two Hundred Fifty Thousand and No/100 Dollars
      ($2,250,000.00), as such amount may be reduced pursuant to Section 2.09 or
      otherwise.

    

    “Revolving
      Note” means the
      promissory note of Borrower payable to the order of Lender evidencing the
      Revolving Loan, in form and substance acceptable to Lender, and all extensions,
      renewals, and modifications thereof.

    

    “Term
      Note” means the promissory
      note of Borrowers payable to the order of Lender evidencing the Term Loan,
      in
      form and substance acceptable to Lender, and all extensions, renewals, and
      modifications thereof.

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

    

    Section 2.02.
      Addition of  Definitions.  Effective as of the date
      hereof, the following defined terms shall be added to Section 1.01 of the
      Agreement in alphabetical order:

    

    “Advance
      Loan” means the loan in the original principal amount equal to Two Hundred
      Fifty Thousand and No/100 Dollars ($250,000.00) made or to be made by Lender
      pursuant to Section 3A.01; provided, that each Advance under the Advance Loan
      shall be limited to eighty percent (80%) of the cost of the capital expenditures
      acquired with the proceeds of such Advance.

    

    “Advance
      Note” means the promissory note of Borrower payable to the order of Lender
      evidencing the Advance Loan, in form and substance acceptable to Lender, and
      all
      extensions, renewals, and modifications thereof.

    

    Section 2.03.                                Advance
      Loan.  Effective as of the date hereof, a new Article IIIA shall
      be added to the Agreement to read as follows:

    

    “ARTICLE
      IIIA

    Advance
      Loan

    

    Section
      3A.01.  Advance Loan.   Subject to the terms and
      conditions of this Agreement, Lender agrees to make the Advance Loan to
      Borrowers in a one or more advances from August 29, 2007 to August 29,
      2008.

    

    Section
      3A.02.                                The
      Advance Note.   The obligation of Borrowers to repay the
      Advance Loan shall be evidenced by the Advance Note executed by Borrowers,
      payable to the order of Lender, in the principal amount of the Advance Loan
      and
      dated the date hereof.

    

    Section
      3A.03.                                Repayment
      of Advance Loan.  Borrowers shall repay the unpaid principal
      amount of the Advance Loan in accordance with the terms and provisions of the
      Advance Note.  Any amounts repaid under the Advance Note may
not be reborrowed.

    

    Section
      3A.04.                                Interest.  The
      unpaid principal amount of the Advance Loan shall bear interest prior to
      maturity at the rate or rates set forth in the Advance Note.  Accrued
      and unpaid interest on the Advance Loan shall be payable in accordance with
      the
      terms and provisions of the Advance Note.  During the continuance of
      an Event of Default, all principal and interest under the Advance Loan shall
      bear interest at the Default Rate.

    

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

    

    Section
      3A.05.                                Use
      of Proceeds.  The proceeds of the Advance Loan shall be used by
      Borrowers to make capital expenditures.

    

    Section
      3A.06.                                Facility
      Fee.  Borrowers shall pay to Lender a non-refundable facility fee
      (the “Advance Facility Fee”) of $1,250.00 (representing one-half of one
      percent (.5%) of the principal amount of the Advance Loan) on the date of the
      Advance Note.  The Facility Fee shall be deemed fully earned on the
      date of the Advance Note and is non-refundable.”

    

    Section 2.04.                                Amendment
      to Reporting requirements.  Effective as of the date hereof, existing
      Section 8.02(d) of the Agreement shall be redesignated as Section 8.02(e),
      and a
      new Section 8.02(d) shall be added to the Agreement to read as
      follows:

    

    “(d)           Tax
      Returns.  Copies of  income tax returns (federal and
      state, if any) of Dougherty’s Pharmacy and the Medicine Man Entities within 30
      days after the applicable filing date for the tax reporting period
      thereof.”

     

    Section 2.05.                                Amendment
      to Financial Covenant.  Effective as of the date hereof, Section 10.02
      of the Agreement is amended to read as follows:

    

    Section
      10.02.                                Funded
      Debt to Adjusted EBITDA Ratio.  Borrowers will at all times
      maintain a ratio of Funded Debt to Adjusted EBITDA of not greater than 2.75
      to
      1.00.  The Funded Debt to Adjusted EBITDA Ratio shall be computed for
      the Borrowers on a consolidated basis and shall be tested monthly on a rolling
      twelve month basis.”

    

    ARTICLE
      III

    

    Conditions
      Precedent

    

    Section 3.01.                                Conditions.  The
      effectiveness of this Amendment is subject to the satisfaction of the following
      conditions precedent:

    

    (a)           Lender
      shall have received all of the following, each dated (unless otherwise
      indicated) the date of this Amendment, in form and substance satisfactory to
      Lender:

    

    (1)           Loan
      Documents.  Each Borrower shall have executed and delivered (A) a
      Revolving Note evidencing the Revolving Loan as increased hereby, and (B) an
      Advance Note evidencing the Advance Loan;

    

    (2)           Guarantors.  Each
      Guarantor shall have executed the Guarantor Ratification attached
      hereto;

    
      
        
        

      

      
        -7-

        
          

        

      

      
        
        

      

    

    

    (3)           Resolutions.  Certified
      resolutions of behalf of each Borrower  which authorize the execution,
      delivery, and performance by each Borrower of this Amendment and the other
      Loan
      Documents to which such Borrower is or is to be a party hereunder;

    

    (4)           Additional
      Information.  Lender shall have received such additional
      documents, instruments and information as Lender or its legal counsel may
      request; and

    

    (b)           The
      representations and warranties contained herein and in all other Loan Documents,
      as amended hereby, shall be true and correct as of the date hereof as if made
      on
      the date hereof;

    

    (c)           No
      Event of Default shall have occurred and be continuing and no event or condition
      shall have occurred that with the giving of notice or lapse of time or both
      would be an Event of Default; and

    

    (d)           All
      proceedings taken in connection with the transactions contemplated by this
      Amendment and all documents, instruments, and other legal matters incident
      thereto shall be satisfactory to Lender and its legal counsel.

    

    ARTICLE
      IV

    

    Ratifications
      Representations and
      Warranties

    

    Section 4.01.                                Ratifications.  The
      terms and provisions set forth in this Amendment shall modify and supersede
      all
      inconsistent terms and provisions set forth in the Agreement and except as
      expressly modified and superseded by this Amendment, the terms and provisions
      of
      the Agreement and the other Loan Documents are ratified and confirmed and shall
      continue in full force and effect.  Borrowers and Lender agree that
      the Agreement as amended hereby shall continue to be legal, valid, binding
      and
      enforceable in accordance with its terms.  Without limiting the
      foregoing, each Borrower ratifies the terms and conditions of the Security
      Agreement executed by such Borrower and hereby agrees that the “Collateral”
described in each such Security Agreement shall secure all of the Obligations,
      including without limitation, all of the obligations and indebtedness of
      Borrowers under the Advance Loan and Advance Note.

    Section 4.02.                                Representations
      and Warranties.  Each Borrower hereby represents and warrants to
      Lender that (i) the execution, delivery and performance of this Amendment and
      any and all other Loan Documents executed and/or delivered in connection
      herewith have been authorized by all requisite action on the part of such
      Borrower and will not violate the organizational documents of such Borrower,
      (ii) the representations and warranties contained in the Agreement, as amended
      hereby, and any other Loan Document are true and correct on and as of the date
      hereof as though made on and as of the date hereof, (iii) no Event of Default
      has occurred and is continuing and no event or condition has occurred that
      with
      the giving of notice or lapse of time or both would be an Event of Default,
      and
      (iv) such Borrower is in full compliance with all covenants and agreements
      contained in the Agreement as amended hereby.

    
      
        
        

      

      
        -8-

        
          

        

      

      
        
        

      

    

    ARTICLE
      V

    

    Miscellaneous

    

    Section 5.01.                                Survival
      of Representations and Warranties.  All representations and
      warranties made in this Amendment or any other Loan Document including any
      Loan
      Document furnished in connection with this Amendment shall survive the execution
      and delivery of this Amendment and the other Loan Documents, and no
      investigation by Lender or any closing shall affect the representations and
      warranties or the right of Lender to rely upon them.

    

    Section 5.02.                                Reference
      to Agreement.  Each of the Loan Documents, including the Agreement
      and any and all other agreements, documents, or instruments now or hereafter
      executed and delivered pursuant to the terms hereof or pursuant to the terms
      of
      the Agreement as amended hereby, are hereby amended so that any reference in
      such Loan Documents to the Agreement shall mean a reference to the Agreement
      as
      amended hereby.

    

    Section 5.03.                                Expenses
      of Lender.  As provided in the Agreement, Borrowers jointly and
      severally agrees to pay on demand all reasonable costs and expenses incurred
      by
      Lender in connection with the preparation, negotiation, and execution of this
      Amendment and the other Loan Documents executed pursuant hereto and any and
      all
      amendments, modifications, and supplements thereto, including without limitation
      the reasonable costs and fees of Lender’s legal counsel, and all costs and
      expenses incurred by Lender in connection with the enforcement or preservation
      of any rights under the Agreement, as amended hereby, or any other Loan
      Document, including without limitation the costs and fees of Lender’s legal
      counsel.

    

    Section 5.04.                                Severability.  Any
      provision of this Amendment held by a court of competent jurisdiction to be
      invalid or unenforceable shall not impair or invalidate the remainder of this
      Amendment and the effect thereof shall be confined to the provision so held
      to
      be invalid or unenforceable.

    

    Section 5.05.                                Applicable
      Law.  This Amendment and all other Loan Documents executed
      pursuant hereto shall be deemed to have been made and to be performable in
      Dallas County, Texas and shall be governed by and construed in accordance with
      the laws of the State of Texas.

    

    Section 5.06.                                Successors
      and Assigns.  This Amendment is binding upon and shall inure to
      the benefit of Lender and Borrowers and their respective successors and assigns,
      except Borrowers may not assign or transfer any of their respective rights
      or
      obligations hereunder without the prior written consent of Lender.

    

    Section 5.07.                                Counterparts.  This
      Amendment may be executed in one or more counterparts, each of which when so
      executed shall be deemed to be an original, but all of which when taken together
      shall constitute one and the same instrument.

    
      
        
        

      

      
        -9-

        
          

        

      

      
        
        

      

    

    

    Section 5.08.                                Effect
      of Waiver.  No consent or waiver, express or implied, by Lender to
      or for any breach of or deviation from any covenant, condition or duty by
      Borrowers or Guarantors shall be deemed a consent or waiver to or of any other
      breach of the same or any other covenant, condition or duty.

    

    Section 5.09.                                Headings.  The
      headings, captions, and arrangements used in this Amendment are for convenience
      only and shall not affect the interpretation of this Amendment.

    

    Section 5.11.                                ENTIRE
      AGREEMENT.  THIS AMENDMENT AND ALL OTHER INSTRUMENTS, DOCUMENTS
      AND AGREEMENTS EXECUTED AND DELIVERED IN CONNECTION WITH THIS AMENDMENT EMBODY
      THE FINAL, ENTIRE AGREEMENT AMONG THE PARTIES HERETO AND SUPERSEDE ANY AND
      ALL
      PRIOR COMMITMENTS, AGREEMENTS, REPRESENTATIONS AND UNDERSTANDINGS, WHETHER
      WRITTEN OR ORAL, RELATING TO THIS AMENDMENT, AND MAY NOT BE CONTRADICTED OR
      VARIED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS
      OR
      DISCUSSIONS OF THE PARTIES HERETO.  THERE ARE NO ORAL AGREEMENTS AMONG
      THE PARTIES HERETO.

    

    Executed
      as of the date first written above.

    

    
      	
               

            	
              BORROWERS:

            

    

    

    DOUGHERTY’S
      PHARMACY, INC.,

    a
      Texas corporation

    

    

    By:
      /s/ David E. Bowe

    Name:                      David
      E. Bowe

    Title:           President
      and Chief Executive Officer

    

    ALVIN
      MEDICINE MAN, LP,

    a
      Texas limited partnership

    

    By:           Alvin
      Medicine Man GP, LLC,

    a
      Texas limited liability
      company,

    its
      General Partner

    

    By:
/s/
      David E.
      Bowe

    Name:                      David
      E. Bowe

    Title:  President
      and
      Chief Executive Officer

    

    (Signatures
      continue on the following page)

    
      
        
        

      

      
        -10-

        
          

        

      

      
        
        

      

    

    

    ANGLETON
      MEDICINE MAN, LP,

    a
      Texas limited partnership

    

    By:           Angleton
      Medicine Man GP, LLC,

    a
      Texas limited liability
      company,

    its
      General Partner

    

    

    By:/s/
      David E.
      Bowe

    Name:                      David
      E. Bowe

    Title:           President
      and Chief Executive Officer

    

    

    SANTA
      FE MEDICINE MAN, LP,

    a
      Texas limited partnership

    

    By:           Santa
      Fe Medicine Man GP, LLC,

    a
      Texas limited liability
      company,

    its
      General Partner

    

    

    By:/s/
      David E.
      Bowe

    Name:                      David
      E. Bowe

    Title:           President
      and Chief Executive Officer

    

    

    
      	
               

            	
              LENDER:

            

    

    

    AMEGY
      BANK NATIONAL ASSOCIATION,

    a
      national banking association

    

    

    By:/s/
      Lisa Armstrong

    Name:                      Lisa
      Armstrong

    Title:           Senior
      Commercial Banker

    
      
        
        

      

      
        -11-

        
          

        

      

      
        
        

      

    

    

    Guarantor
      Ratification

    

    By
      executing this Agreement, each of
      the undersigned, as a Guarantor of the Obligations as set forth in a Guaranty
      Agreement (the “Guaranty”) dated February 20, 2007, hereby expressly
      agrees (a) to all of the terms and provisions of this Amendment, (b) that the
      Guaranty shall guarantee all of the Obligations including, but not limited
      to,
      all of the obligations and indebtedness of Borrowers under the Advance Loan
      and
      the Advance Note, (c)  to the continuing validity of the Guaranty and
      all duties and obligations thereunder, (d) that its liability under the Guaranty
      shall not be reduced, altered, limited, lessened or in any way affected by
      the
      execution and delivery of this Amendment by the parties hereto, and (e) that
      the
      Guaranty shall remain in full force and effect and enforceable in accordance
      with its terms.

    

    

    ASCENDANT
      SOLUTIONS,
      INC.,

    a
      Delaware corporation

    

    

    By:
      /s/ David E.
      Bowe

    Name:                      David
      E. Bowe

    Title:           President
      and Chief Executive Officer

    

    

                                                                    DOUGHERTY’S
      HOLDINGS, INC.,

    a
      Texas corporation

    

    

    By:
/s/
      David E.
      Bowe

    Name:                      David
      E. Bowe

    Title:           President
      and Chief Executive Officer

    

    

    DOUGHERTY’S
      LP HOLDINGS,
      INC.,

    a
      Nevada corporation

    

    

    By:
/s/
      David E.
      Bowe

    Name:                      David
      E. Bowe

    Title:           President
      and Chief Executive Officer

    

    

    (Signatures
      continue on the following page)

    
      
        
        

      

      
        -12-

        
          

        

      

      
        
        

      

    

    MEDICINE
      MAN GP, LLC,

    a
      Texas limited liability
      company

    

    

    By:
      /s/ David E.
      Bowe

    Name:                      David
      E. Bowe

    Title:           President
      and Chief Executive Officer

    

    

    MEDICINE
      MAN, LP,

    a
      Texas limited
      partnership

    

    By:           Medicine
      Man GP, LLC,

    a
      Texas limited liability
      company,

    its
      General Partner

    

    

    By:
/s/
      David E.
      Bowe

    Name:                      David
      E. Bowe

    Title:           President
      and Chief Executive Officer

    

    

    ALVIN
      MEDICINE MAN GP,
      LLC,

    a
      Texas limited liability
      company

    

    

    By:
      /s/ David E.
      Bowe

    Name:                      David
      E. Bowe

    Title:           President
      and Chief Executive Officer

    

    

    ANGLETON
      MEDICINE MAN GP,
      LLC,

    a
      Texas limited liability
      company

    

    

    By:
/s/
      David E.
      Bowe

    Name:                      David
      E. Bowe

    Title:           President
      and Chief Executive Officer

    

    

    (Signatures
      continue on the following page)

    
      
        
        

      

      
        -13-

        
          

        

      

      
        
        

      

    

    SANTA
      FE MEDICINE MAN GP,
      LLC,

    a
      Texas limited liability
      company

    

    

    By:
/s/
      David E.
      Bowe

    Name:                      David
      E. Bowe

    Title:           President
      and Chief Executive Officer

     

    -14-

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