Document:

Letter agreement Amending and Restating Brokerage Agreements

 Exhibit 10.8 
  

					
	 	  	 2 American Lane
 P.O. Box 5150
 Greenwich, Connecticut
 06831-8150
	  	 Tel 203.861.1031
 Fax 203.552.1501

	

	  	  
 Joseph J. Allessie
 Senior Vice President
 General Counsel
	  	 

  
 October 1, 2004 
  
 Prudential Financial Derivatives, LLC. 
 Attn: Don Levine, General Counsel 
 One New York Plaza, 13th Floor 
 New York, New York 10292

  
 Re: Letter Agreement Amending and Restating Brokerage Agreements

  
 Please be advised that as of 12:01a.m. Friday, October 1, all the issued
and outstanding shares of the capital stock of Prudential Securities Futures Management Inc. and Seaport Futures Management, Inc., (together the “Prudential Managing Owners”) of the undersigned Trusts/Fund are owned by Preferred Investment
Solutions Corp. f/k/a Kenmar Advisory Corp. (the managing owner and general partner thereto collectively, the “Kenmar Managing Owner”). 
  
 The Trusts and Fund have entered into various brokerage agreements with Prudential Financial Derivatives, LLC. (“PFD” or “Broker”), such brokerage
agreements are listed on Schedule I hereof (collectively hereafter, “Brokerage Agreements”). Please be advised that the Kenmar Managing Owner, on behalf of the Trusts and Fund, desires to continue the Brokerage Agreements on identical
terms except with respect to remuneration. Therefore, consider this Letter Agreement as an amendment and restatement of the various Brokerage Agreements on identical terms save remuneration. This Letter Agreement serves to strike and replace as
follows each remuneration sections in their entirety: 
  
 “Compensation to the Broker. The Broker’s compensation for its services shall be limited to the commodity brokerage fees charged in accordance herewith. Broker shall bill commissions to the Trust or Fund, as the case may
be, per transaction in the amount pf $2.00 per contract per half turn plus all other transaction costs, including but not limited to brokerage charges, give up fees, commissions and service fees that PFD may from time to time charge, all contract
market, clearing house, clearing member, NFA and CFTC fees or charges, fines or penalties, and other amounts owed to PFD with respect to brokerage transactions.” 
  
 Notices to the Trusts/Fund shall be provided as follows: 
  
 Preferred Investment Solutions, Corp. 
 c/o NAME OF TRUST/FUND 
 Attn: Secretary/General Counsel 
 51 Weaver Street 
 Building One South,
2nd Floor 
 Greenwich, CT 06831 
  
  

					
	 	  	2 American Lane
P.O. Box 5150
Greenwich, Connecticut
06831-8150	  	Tel 203.861.1031
Fax 203.552.1501
	

	  	  
 Joseph J. Allessie
Senior Vice President
General Counsel
	  	 

  
 Also, please find attached a
Secretary’s Certificate from the Kenmar Managing Owner, Preferred Investment Solutions Corp., designating signatories for the PFD accounts relative hereto. 
  

If this Letter Agreement is acceptable, please sign both copies of this Letter Agreement and return one copy to the undersigned. 
  
 PRUDENTIAL BACHE DIVERSIFIED FUTURES FUND, L.P. to be known as DIVERSIFIED FUTURES
FUND L.P. 
 DIVERSIFIED FUTURES TRUST I 
 PRUDENTIAL SECURITIES
STRATEGIC TRUST to be known as FUTURES STRATEGIC TRUST 
 DIVERSIFIED FUTURES TRUST II 
 WORLD MONITOR TRUST 
 WORLD MONITOR TRUST II 
 PRUDENTIAL-BACHE INTERNATIONAL FUTURES FUND B, C, D and F, PLC. 
  
 By: Preferred Investment Solutions Corp., Managing Owner/General Partner 
  

			
	By:	 	 /s/ Joseph J. Allessie

	Name:	 	Joseph J. Allessie
	Title:	 	Secretary

  

			
	AGREED AND ACCEPTED:
	
	PRUDENTIAL FINANCIAL DERIVATIVES, LLC
		
	By:	 	 /s/ Richard H. Hulit, Jr.

	Name:	 	Richard H. Hulit, Jr.
	Title:	 	Senior Vice President

  

			
	c:	 	Richard H. Hulit, Jr., Prudential
	 	 	Rosita Levy, Kenmar

					
	 	  	 2 American Lane
 P.O. Box 5150
 Greenwich, Connecticut
 06831-8150
	  	 Tel 203.861.1031
 Fax 203.552.1501

	

	  	  
 Joseph J. Allessie
 Senior Vice President
 General Counsel
	  	 

  
 Schedule I

  
 PRUDENTIAL BACHE DIVERSIFIED FUTURES FUND, L.P. to be known as
DIVERSIFIED FUTURES FUND L.P. 
  

	 	•	 	Brokerage Agreement dated October 18, 1988 

  
 DIVERSIFIED FUTURES TRUST I 
  

	 	•	 	Brokerage Agreement dated January 4, 1995 

  
 PRUDENTIAL SECURITIES STRATEGIC TRUST, f/k/a WILLOWBRIDGE STRATEGIC TRUST to be known as FUTURES STRATEGIC TRUST 
  

	 	•	 	Brokerage Agreement dated May 1, 1996 

  
 DIVERSIFIED FUTURES TRUST II 
  

	 	•	 	Brokerage Agreement dated February 12, 1997 

  
 WORLD MONITOR TRUST 
  

	 	•	 	Brokerage Agreement dated March 24, 1998 

  
 WORLD MONITOR TRUST II 
  

	 	•	 	Brokerage Agreement dated September 17, 1999 

  
 PRUDENTIAL-BACHE INTERNATIONAL FUTURES FUND B, C, D, and F, PLC. 
  

	 	•	 	Brokerage Agreement dated May 30, 1996 (Fund B, C, and D) 

  

	 	•	 	Brokerage Agreement dated May 19, 1997 (Fund F)First Amendment to Amended and Restated Credit Agreement

 Exhibit 10.51 
  
 Confidential treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the
confidentiality request. Omissions are designated as [*]. A complete version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  
 FIRST AMENDMENT TO CREDIT AGREEMENT 
  

This FIRST AMENDMENT TO AMENDED AND RESTATED
CREDIT AGREEMENT (this “Amendment”), dated as of March 30, 2005, among ARTHROCARE CORPORATION, a Delaware corporation (the “Borrower”), the
several financial institutions party to the Credit Agreement referred to below (collectively, the “Lenders”), BANK OF AMERICA, N.A., as Administrative Agent, and WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Documentation Agent and Collateral Agent. 
  
 RECITALS 
  
 A. The Borrower, the Lenders, the Administrative Agent, the Documentation Agent and the Collateral Agent have previously entered into an Amended and
Restated Credit Agreement, dated as of October 15, 2004 (the “Credit Agreement”). 
  
 B. The Borrower and the Lenders desire to amend the Credit Agreement on the terms and conditions contained herein. 
  
 NOW, THEREFORE, for good and valuable
consideration (the receipt and sufficiency of which are hereby acknowledged), the parties hereto agree as follows: 
  
 1. Definitions. Each capitalized term used but not otherwise defined herein has the meaning ascribed thereto in the Credit Agreement. 

 
 2. Amendments to the Credit Agreement. Upon the effectiveness of
this Amendment, the Credit Agreement is hereby amended as follows, with all such amendments being effective retroactive to the Closing Date: 
  
 (a) The defined term “Specified Acquisition” is amended by deleting the reference to “Opus Acquisition
Agreements” contained therein and by substituting therefor a reference to “Specified Acquisition Agreements.” 
  
 [*] 
  
 3. Amendment Fee. As additional consideration for each Lender’s agreement to enter into this Amendment, the Borrower shall pay to the
Administrative Agent, for distribution by the Administrative Agent to each Lender on a pro rata basis in accordance with such Lender’s Proportionate Share, an amendment fee in an amount equal to [*] (the “Amendment
Fee”). The Amendment Fee shall be payable in immediately available federal funds on the Amendment Effective Date, shall be deemed 
  
 [*] Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with
respect to the omitted portions. 

 
fully earned and non-refundable on the Amendment Effective Date and shall not reduce or otherwise constitute a deposit or payment on any other obligations of
the Borrower or any of the Guarantors owing under or in respect of the Loan Documents. 
  
 4. Conditions to Effectiveness. Notwithstanding anything to the contrary contained herein, this Amendment shall become effective as of the first date upon which all of the following conditions have been
satisfied (the “Amendment Effective Date”): 
  
 (a) the Administrative Agent shall have received originals (with sufficient copies for the Administrative Agent, the Documentation Agent, the Collateral Agent and all Lenders) of this Amendment, duly executed and
delivered by the Borrower and the Lenders; 
  
 (b)
the Administrative Agent shall have received originals (with sufficient copies for the Administrative Agent, the Documentation Agent, the Collateral Agent and all Lenders) of that certain Reaffirmation by Guarantors (the
“Reaffirmation”), dated as of even date herewith, in substantially the form of Exhibit A attached hereto and incorporated herein by this reference, duly executed and delivered by each of Medical Device Alliance Inc., Parallax
Medical, Inc. and OC Acquisition Sub, LLC, as the sole existing Guarantors as of the date of this Amendment; 
  
 (c) the Administrative Agent shall have received payment in full of the Amendment Fee; and 
  
 (d) each of the Administrative Agent and the Collateral Agent
shall have received such other agreements, documents and instruments as the Administrative Agent or the Collateral Agent shall have required in connection with the amendments to be effected by this Amendment; 
  
 provided that, in the event the foregoing conditions are not satisfied prior to 1:00
p.m., California time, on April 1, 2005, then this Amendment shall automatically terminate and be of no further force and effect. 
  
 5. Representations, Warranties and Agreements. The Borrower hereby represents, warrants and agrees in favor of the Administrative Agent, the
Documentation Agent, the Collateral Agent and the Lenders as follows: 
  
 (a) Both before and after giving effect to this Amendment, no Default or Event of Default exists (but for any Default or Event of Default which would exist solely as a result of the amendments to the Credit Agreement
otherwise effected pursuant to Section 2 of this Amendment not being effective as of the Closing Date). 
  
 (b) The execution, delivery and performance by the Borrower of this Amendment have been duly authorized by all necessary corporate and/or
other action and do not and will not require any registration with, consent or approval of, notice to or action by, any Person in order to be effective and enforceable. Each of the Credit Agreement and the other Loan Documents to which the Borrower
is a party constitutes and continues to constitute the legal, valid and binding obligations of the Borrower, enforceable against the Borrower in accordance with their respective terms, except as limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws of general applicability affecting the enforceability of creditor rights. The collateral that secures the obligations of the 

 
Borrower under the Credit Agreement and the other Loan Documents secures and will continue to secure the obligations of the Borrower under the Credit
Agreement and the other Loan Documents. 
  
 (c)
All representations and warranties of the Borrower and the Guarantors contained in the Credit Agreement and the other Loan Documents are true and correct and will be true and correct on the Amendment Effective Date. 
  
 (d) The Borrower is entering into this Amendment on the basis
of such Person’s own business judgment, without reliance upon any Agent-Related Person, any Lender or any other Person. 
  
 (e) The Borrower acknowledges and agrees that the execution and delivery by the Lenders, the Administrative Agent, the Documentation Agent
and the Collateral Agent of this Amendment shall not be deemed to create a course of dealing or otherwise obligate any Agent-Related Person or the Lenders (or any of them) to execute similar agreements under the same or similar circumstances in the
future. Neither any Agent-Related Person nor any Lender has any obligation to the Borrower, the Guarantors or any other Person to further amend provisions of the Credit Agreement or the other Loan Documents. Other than as specifically contemplated
hereby, all of the terms, covenants and provisions of the Credit Agreement (and the other Loan Documents) are and shall remain in full force and effect. 
  
 6. General Provisions. 
  
 (a) Upon the effectiveness of this Amendment, all references in the Credit Agreement and in the other Loan Documents to the Credit
Agreement shall refer to the Credit Agreement as modified hereby. This Amendment shall be deemed incorporated into, and a part of, the Credit Agreement. This Amendment is a Loan Document. THIS AMENDMENT IS EXPRESSLY SUBJECT TO THE PROVISIONS OF
SECTION 10.16 (GOVERNING LAW/SUBMISSION TO JURISDICTION) AND SECTION 10.17 (WAIVER OF JURY TRIAL), WHICH PROVISIONS ARE INCORPORATED HEREIN AND MADE APPLICABLE HERETO BY THIS REFERENCE. 
  
 (b) This Amendment is made pursuant to Section 10.01 of the Credit Agreement and shall be binding upon and
inure to the benefit of the parties hereto and thereto and their respective successors and assigns. No third party beneficiaries are intended in connection with this Amendment. 
  
 (c) This Amendment may be executed in any number of counterparts, each of which shall be deemed an original,
but all such counterparts together shall constitute but one and the same instrument. Each of the parties hereto understands and agrees that this document (and any other document required herein) may be delivered by any party thereto either in the
form of an executed original or an executed original sent by facsimile transmission to be followed promptly by delivery of a hard copy original, and that receipt by the Administrative Agent of a facsimile transmitted document purportedly bearing the
signature of a Lender or the Borrower shall bind such Person with the same force and effect as the delivery of a hard copy original. Any failure by 

 
the Administrative Agent to receive the hard copy executed original of such document shall not diminish the binding effect of receipt of the facsimile
transmitted executed original of such document of the party whose hard copy page was not received by the Administrative Agent. 
  
 (d) If any term or provision of this Amendment shall be deemed prohibited by or invalid under any applicable law, such provision shall be
invalidated without affecting the remaining provisions of this Amendment or the Credit Agreement, respectively. 
  
 [Document continues with signature page.] 
  
  

 IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to be executed as of the date first written above. 
  
  

			
	 ARTHROCARE CORPORATION,
 a Delaware corporation, as the Borrower

		
	By:	 	/s/    Fernando V. Sanchez
	Printed Name:	 	Fernando V. Sanchez
	Title:	 	 Chief Financial Officer, Senior Vice President

  
  

			
	 BANK OF AMERICA, N.A.,
 as Administrative Agent

		
	By:	 	/s/    Jill B. Ta
	Printed Name:	 	Jill B. Ta
	Title:	 	 Senior Vice President

  
  
  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,
 as Documentation Agent and Collateral Agent

		
	By:	 	/s/    Dora A. Brown
	Printed Name:	 	Dora A. Brown
	Title:	 	 Vice President

  
  

			
	 BANK OF AMERICA, N.A.,
 as a Lender

		
	By:	 	/s/    Jill B. Ta
	Printed Name:	 	Jill B. Ta
	Title:	 	 Senior Vice President

  
  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,
 as Documentation Agent and Collateral Agent

		
	By:	 	/s/    John C. Plecque
	Printed Name:	 	John C. Plecque
	Title:	 	 Senior Vice President

 EXHIBIT A 
  

FORM OF REAFFIRMATION BY GUARANTORS 
  
 Each of the undersigned (each, a “Guarantor,” and, collectively, the “Guarantors”) acknowledges and agrees that such
Guarantor has received, read and is familiar with, and consents to, all of the terms and conditions of that certain First Amendment to Amended and Restated Credit Agreement (the “Amendment”), dated as of even date herewith, among
ArthroCare Corporation, a Delaware corporation (the “Borrower”), the several financial institutions party to the Credit Agreement referred to therein (collectively, the “Lenders”), Bank of America, N.A., as
Administrative Agent (“Administrative Agent”), and Wells Fargo Bank, National Association, as Documentation Agent and Collateral Agent. In light of the foregoing, each Guarantor confirms and agrees that all of the terms and
provisions of its Guaranty, previously executed by such Guarantor in favor of Administrative Agent (as amended, modified and/or supplemented from time to time, a “Guaranty,” and, collectively, the “Guaranties”), are
ratified and reaffirmed, and that such Guarantor’s Guaranty shall continue in full force and effect. Each capitalized term used but not otherwise defined herein has the meaning ascribed thereto in the Amendment. 
  
 Although the Administrative Agent has informed each Guarantor of the terms of
the Amendment, each Guarantor understands and agrees that none of the Administrative Agent, the Documentation Agent, the Collateral Agent, the Lenders (or any of them) has any duty under any agreement with Borrower (including, without limitation,
under the Amendment), under the Guaranties, or under any other agreement with any Guarantor to so notify any Guarantor or to seek this or any future acknowledgment, consent, or reaffirmation, and nothing contained herein is intended to, or shall
create, such a duty as to any transactions hereafter. 
  
 The
execution, delivery and performance by each Guarantor of this Reaffirmation have been duly authorized by all necessary corporate and/or other action and do not and will not require any registration with, consent or approval of, notice to or action
by, any Person in order to be effective and enforceable. Each of the Loan Documents to which each Guarantor is a party constitutes and continues to constitute the legal, valid and binding obligations of such Person, enforceable against such Person
in accordance with their respective terms, except as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws of general applicability affecting the enforceability of creditor rights. The collateral that secures the obligations
of the each Guarantor under the Loan Documents secures and will continue to secure the respective obligations of such Person under the Loan Documents. All representations and warranties of each Guarantor contained in the Loan Documents are true and
correct and will be true and correct on the Amendment Effective Date. Each Guarantor is entering into the Reaffirmation, on the basis of such Person’s own business judgment, without reliance upon any Agent-Related Person, any Lender or any
other Person. 
  
 Each Guarantor acknowledges and agrees that the
execution and delivery by the Lenders, the Administrative Agent, the Documentation Agent and the Collateral Agent of the Amendment shall not be deemed to create a course of dealing or otherwise obligate any Agent-Related Person or the Lenders (or
any of them) to execute similar agreements under the same or similar circumstances in the future. Neither 

 
any Agent-Related Person nor any Lender has any obligation to the Borrower, the Guarantors or any other Person to further amend provisions of the Credit
Agreement or the other Loan Documents. Other than as specifically contemplated hereby, all of the terms, covenants and provisions of the Credit Agreement (and the other Loan Documents) are and shall remain in full force and effect. 
  
 Dated as of: March 30, 2005 
  
  

			
	 MEDICAL DEVICE ALLIANCE, INC.,
 a Nevada corporation, as a Guarantor

		
	By:	 	 
		
	Printed Name:	 	 
		
	Title:	 	 

  
  

			
	 PARALLAX MEDICAL, INC.,
 a Delaware corporation, as a Guarantor

		
	By:	 	 
		
	Printed Name:	 	 
		
	Title:	 	 

  
  

			
	 OC ACQUISITION SUB LLC,
 a California limited liability company, as a Guarantor

		
	By:	 	 
		
	Printed Name:	 	 
		
	Title:

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