Document:

Ex-10.2 Master Amended and Restated Promissory Not

 

EXHIBIT 10.2

MASTER

AMENDED AND RESTATED

PROMISSORY NOTE

	 	 	 
	$400,000

	 	As of August 25, 2006
	 

	 	Coral Gables, Florida

     MBF HEALTHCARE ACQUISITION CORP. (the “Maker”) promises to pay to the order of MBF HEALTHCARE
PARTNERS, L.P. (the “Payee”) the principal sum of Four Hundred Thousand Dollars ($400,000), or so
much thereof as may be advanced hereunder, in lawful money of the United States of America,
together with interest on the unpaid principal balance of this Promissory Note (this “Note”), on
the terms and conditions described below.

     1. Principal. The principal balance of this Note, along with all accrued interest, shall be
payable on the earlier of (a) June 12, 2007 and (b) the date on which Maker consummates an initial
public offering of its securities under the Securities Act of 1933, as amended.

     2. Interest. Interest shall accrue at the rate of 5.0% per year on the unpaid principal
balance of this Note. Interest shall be computed on the basis of the actual number of days elapsed
and a year of 365 days.

     3. Non-Revolving Line of Credit. The loan evidenced by this Note is a non-revolving loan and
Maker may borrow up to the principal amount of this Note during the term of this Note, so long as
no Event of Default (hereinafter defined) has occurred and is continuing.

     4. Application of Payments. All payments shall be applied first to payment in full of any
costs incurred in the collection of any sum due under this Note, including (without limitation)
reasonable attorneys’ fees, then to the reduction of the unpaid principal and interest balance of
this Note.

     5. Events of Default. Each of the following shall constitute an event of default (“Event of
Default”) under this Note:

          (a) Failure to Make Required Payments. Failure by Maker to pay the principal and accrued
interest of this Note within five (5) business days following the date when due.

          (b) Voluntary Bankruptcy, Etc. The commencement by Maker of a voluntary case under the Federal
Bankruptcy Code, as now constituted or hereafter amended, or any other applicable federal or state
bankruptcy, insolvency, reorganization, rehabilitation or other similar law, or the consent by it
to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian,
sequestrator (or other similar official) of Maker or for any substantial part of its property, or
the making by it of any assignment for the benefit of creditors, or the failure of Maker generally
to pay its debts as such debts become due, or the taking of corporate action by Maker in
furtherance of any of the foregoing.

          (c) Involuntary Bankruptcy, Etc. The entry of a decree or order for relief by a court having
jurisdiction in the premises in respect of maker in an involuntary case under the Federal
Bankruptcy Code, as now or hereafter constituted, or any other applicable federal or state
bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee,

 

 

custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of
its property, or ordering the winding-up or liquidation of its affairs, and the continuance of any
such decree or order unstayed and in effect for a period of sixty (60) consecutive days.

     6. Remedies.

          (a) Upon the occurrence of an Event of Default specified in Section 4(a) hereof, Payee may, by
written notice to Maker, declare this Note to be immediately due and payable, whereupon the unpaid
principal amount of this Note, along with accrued interest and all other amounts payable hereunder,
shall become immediately due and payable without presentment, demand, protest or other notice of
any kind, all of which are hereby expressly waived, anything contained herein or in the documents
evidencing the same to the contrary nothwithstanding.

          (b) Upon the occurrence of an Event of Default specified in either Section 4(b) or Section
4(c) hereof, the unpaid principal balance of this Note, along with accrued interest and all other
amounts payable hereunder, shall automatically and immediately become due and payable, in all cases
without any action on the part of Payee, including presentment, demand, protest or other notice of
any kind, all of which are hereby expressly waived.

     7. Waivers. Maker and all endorsers and guarantors of, and sureties for, this Note waive
presentment for payment, demand, notice of dishonor, protest, and notice of protest with regard to
the Note, all errors, defects and imperfections in any proceedings instituted by Payee under the
terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future
laws exempting any property, real or personal, or any part of the proceeds arising from any sale of
any such property, from attachment, levy or sale under execution, or providing for any stay of
execution, exemption from civil process, or extension of time for payment; and Maker agrees that
any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any
writ of execution issued hereon, may be sold upon any such writ in whole or in part in any order
desired by Payee.

     8. Unconditional Liability. Maker hereby waives all notices in connection with the delivery,
acceptance, performance, default, or enforcement of the payment of this Note, and agrees that its
liability shall be unconditional, without regard to the liability of any other party, and shall not
be affected in any manner by any indulgence, extension of time, renewal, waiver or modification
granted or consented to by Payee, and consents to any and all extensions of time, renewals,
waivers, or modifications that may be granted by Payee with respect to the payment or other
provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may
become parties hereto without notice to it or affecting its liability hereunder.

     9. Notices. Any notice called for hereunder shall be deemed properly given if in writing and
(i) sent by certified mail, return receipt requested, (ii) personally delivered, (iii) dispatched
by any form of private or governmental express mail or delivery service providing receipted
delivery, (iv) sent by confirmed telefacsimile or (v) sent by confirmed e-mail, to the following
addresses or to such other address as either party may designate by notice in accordance with this
Section:

     If to Maker:

			
	                    	 	MBF Healthcare Acquisition Corp.

121 Alhambra Plaza, Suite 1100

Coral Gables, FL 33134

2

 

     If to Payee:

			
	                    	 	MBF Healthcare Partners, L.P.

121 Alhambra Plaza, Suite 1100

Coral Gables, FL 33134

Notice shall be deemed given on the earlier of (i) actual receipt by the receiving party, (ii) the
date shown on the confirmed telefacsimile transmission confirmation, (iii) the date on which an
e-mail transmission was received by the receiving party’s on-line access provider (iv) the date
reflected on a signed delivery receipt, or (v) two (2) Business Days following tender of delivery
or dispatch by express mail or delivery service.

     10. Governing Law; Construction. This Note, the legal relations between the Maker and Payee
and the adjudication and the enforcement hereof shall be governed by and construed in accordance
with the laws of the State of Florida applicable to contracts executed in and to be performed in
that state, without regard to the conflicts of law provisions thereof to the extent such principles
or rules would require or permit the application of the laws of another jurisdiction.

     11. Severability. Any provision contained in this Note which is prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition
or unenforceability without invalidating the remaining provisions hereof, and any such prohibition
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision
in any other jurisdiction.

     12. Amended and Restated Promissory Note. This Note increases, amends and restates that
certain Promissory Note (the “Original Note”) dated as of June 12, 2006, executed by Maker and made
payable to the order of Payee in the original principal amount of $200,000. It is the intention of
Maker and Payee that while this Note increases, amends and restates the Original Note, it is not in
payment or satisfaction of the Original Note, but rather is the substitution of one evidence of
debt for another without any intent to extinguish the old. Should there be any conflict between
any of the terms of the Original Note and the terms of this Note, the terms of this Note shall
control. The Original Note is attached hereto and shall only be negotiated with this Note.

     IN WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note to be
duly executed the day and year first above written.

	 	 	 	 	 
	 	MBF HEALTHCARE ACQUISITION CORP.

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	Marcio Cabrera 	 
	 	 	Title:  	Chief Financial Officer 	 
	 

3Ex-10.6 Amended Private Placement Purchase Agreeme

 

EXHIBIT 10.6

AMENDED
PRIVATE PLACEMENT PURCHASE AGREEMENT

     THIS
AMENDED PRIVATE PLACEMENT PURCHASE AGREEMENT (this
“Agreement”) made as of this 2nd day of
February, 2007 among MBF HEALTHCARE ACQUISITION CORP., a Delaware corporation (the “Company”), and MBF
HEALTHCARE PARTNERS, L.P., (the “Purchaser”).

     WHEREAS, the Company desires to sell, and the Purchaser desires to acquire, in a private
placement (the “Placement”) an aggregate of
343,750 units (the “Placement Units”), consisting of
shares of common stock of the Company (the “Common Stock”) and warrants to purchase shares of
Common Stock (the “Warrants”) substantially identical to the units being issued to the public (the
“IPO”) (pursuant to the terms and conditions hereof and as set forth in the registration statement
on Form S-1 (the “Registration Statement”) to be filed with the Securities and Exchange Commission
(the “SEC”)), and warrants to purchase 2,750,000 shares of
Common Stock for $6.00 per share (the “Placement
Warrants”), except that the Placement Units, including underlying shares of Common Stock and
Warrants, and Placement Warrants shall not be registered under the Securities Act of 1933, as amended (the “Securities
Act”) and the Warrants and the Placement Warrants may be exercised on a cashless basis in connection with a redemption of the
Warrants and the Placement Warrants; and

     WHEREAS, the Warrants included in the Placement Units shall be governed by the Warrant
Agreement and the Placement Units shall be entitled to the benefits of a Registration Rights
Agreement, each to be filed as exhibits to the Registration Statement.

     NOW, THEREFORE, for and in consideration of the premises and the mutual covenants hereinafter
set forth, the parties hereto do hereby agree as follows:

     1. PURCHASE OF UNITS. The Purchaser hereby agrees, directly or through its nominees, to
purchase 343,750 Placement Units at a purchase price of $8.00 per
Placement Unit and 2,750,000 Placement Warrants at a purchase price
of $1.00 per warrant, for an aggregate
purchase price of $5,500,000 (the “Purchase Price”).

     2. CLOSING.
The closing of the purchase and sale of the Placement Units and the
Placement Warrants, (the “Closing”) will
take place prior to the closing of the IPO, at such time and place as the parties may agree (the
“Closing Date”). On or prior to the Closing
Date, the Purchaser shall pay the Purchase Price by wire transfer of
funds to an account maintained by the Company. On or prior to the
effective date of the Registration Statement, the
Company shall deposit the Purchase Price into the trust account described in the Registration
Statement (the “Trust Account”). The certificates for the Common Stock and Warrants comprising the
Placement Units and the certificates for the Placement Warrants shall be delivered to the Escrow Agent, as defined in the Stock Escrow Agreement to
be filed as an exhibit to the Registration Statement, promptly after the closing of the IPO.

     3. REPRESENTATIONS AND WARRANTIES OF THE PURCHASER. The Purchaser hereby represents and
warrants to the Company that:

     3.1. The Purchaser is an “accredited investor” as that term is defined in Rule 501 of
Regulation D promulgated under the Securities Act.

     3.2.
The Placement Units and the Placement Warrants are being acquired for the Purchaser’s own account, only for
investment purposes and not with a view to, or for resale in connection with, any
distribution or public offering thereof within the meaning of the Securities Act.

 

 

     3.3. The Purchaser has the full right, power and authority to enter into this
Agreement and this Agreement is a valid and legally binding obligation of the Purchaser
enforceable against the Purchaser in accordance with its terms.

     4. WAIVER OF CLAIMS; INDEMNIFICATION. The Purchaser hereby waives any and all rights to
assert any present or future claims, including any right of rescission, against the Company,
Merrill Lynch. Pierce, Fenner & Smith Incorporated (“Merrill”) with respect to its purchase of the
Placement Units and the Placement Warrants, and the Purchaser agrees to indemnify and hold the Company, Merrill and the other
underwriters in the IPO harmless from all losses, damages or expenses that relate to claims or
proceedings brought against the Company, Merrill or such other underwriters by the Purchaser of the
Placement Units and the Placement Warrants or its transferees, heirs, assigns or any subsequent holders of the Placement
Units or the Placement Warrants.

     5. WAIVER OF CLAIMS AGAINST TRUST ACCOUNT. The Purchaser hereby waives any and all right,
title, interest or claim of any kind in or to any distributions of the Trust Account, or to any
other amounts distributed in connection with a liquidating distribution of the Company including
with respect to any shares of Common Stock acquired by the Purchaser pursuant to this Agreement
(“Claim”) and hereby waives any Claim the undersigned may have in the future as a result of, or
arising out of, any contracts or agreements with the Company and will not seek recourse against the
Trust Account for any reason whatsoever, other than with respect to any shares of Common Stock
purchased in the IPO held directly or indirectly by it.

     6. COUNTERPARTS; FACSIMILE. This Agreement may be executed in any number of counterparts,
each of which when so executed shall be deemed to be an original and all of which taken together
shall constitute one and the same instrument. This Agreement or any counterpart may be executed
via facsimile transmission, and any such executed facsimile copy shall be treated as an original.

     7. GOVERNING LAW. This Agreement shall for all purposes be deemed to be made under and shall
be construed in accordance with the laws of the State of Florida. Each of the parties hereby
agrees that any action, proceeding or claim against it arising out of or relating in any way to
this Agreement shall be brought and enforced in the courts of the State of Florida or the United
States District Court for the Southern District of Florida, and irrevocably submits to such
jurisdiction, which jurisdiction shall be exclusive. Each of the parties hereby waives any
objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

(signatures to follow)

 

 

     IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first written
above.

	 	 	 	 	 
	 	MBF HEALTHCARE ACQUISITION CORP.

 	 
	 	By:  	/s/
Marcio C. Cabrera
 	 
	 	 	Name:  	Marcio C. Cabrera 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	MBF HEALTHCARE PARTNERS, L.P.

 	 
	 
	 	By:  	MBF
Healthcare Advisors I, L.P.,

its General Partner
 	 
	 
	 	By:  	MBF
Healthcare Advisors LLC,

its General Partner
 	 
	 
	 	By:  	/s/
Miguel B. Fernandez
 	 
	 	 	Name:  	Miguel B. Fernandez 	 
	 	 	Title:  	President

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