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Exhibit 10.67
ACKNOWLEDGEMENT AND CONFIRMATION OF GUARANTIES
THIS ACKNOWLEDGEMENT AND CONFIRMATION (the "ACKNOWLEDGEMENT") is made
and entered into as of November 8, 1999, by and between the entities listed
on EXHIBIT "A" attached hereto (each a "GUARANTOR" and collectively, the
"GUARANTORS") and DVI BUSINESS CREDIT CORPORATION ("LENDER").
BACKGROUND
A. Pursuant to various Unconditional Continuing Guaranties dated
February 25, 1997, June 29, 1999, or November 8, 1999, as the case may be, by
and between Guarantors and Lender (each a "Guaranty" and collectively, the
"GUARANTIES"), each Guarantor has agreed to guaranty and become surety for all
present and future obligations of US Diagnostic, Inc. ("BORROWER") to Lender,
including, without limitation, all obligations arising under that certain Loan
and Security Agreement dated February 25, 1997, by and between Borrower and
Lender, as amended (the "LOAN AGREEMENT"), the Notes executed thereunder and
all documents, instruments and agreements related thereto (all of the
foregoing being collectively, the "LOAN DOCUMENTS").
B. Borrower has agreed to divide the Loan, the Notes and the
Collateral under the Loan Documents into two (2) distinct and separate
obligations, which obligations may subsequently be merged or
cross-collateralized.
C. All capitalized terms not defined herein shall have the meaning set
forth in the Loan Agreement.
NOW, THEREFORE, the parties hereto, intending to be legally bound and
for good and valuable consideration, agree as follows:
1. ACKNOWLEDGEMENT AND CONFIRMATION OF OBLIGATIONS. Each Guarantor
hereby acknowledges and confirms its unconditional continuing guarantee of the
due and punctual payment, performance and discharge of any and all present and
future Obligations (as defined in that Guarantor's Guaranty) of Borrower to
Lender, including, without limitation, Borrower's obligations under Note A and
under Note B, whether or not such obligations are divided or subsequently
merged or cross-collateralized.
2. COUNTERPARTS. This Acknowledgement may be executed in counterparts,
all of which when taken together constitute one and the same instrument.
3. GOVERNING LAW. This Acknowledgement is governed by and must be
interpreted and construed in accordance with the laws of the State of
California (without giving effect to any principles of conflicts of law).
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IN WITNESS WHEREOF, the undersigned have executed this Acknowledgement
as of the date first above written.
HE IMAGING PARTNERS, LTD PINNACLE IMAGING ASSOCIATES
By: /s/ XXXXXX X. XXXX By: /s/ XXXXXX X. XXXX
------------------------- -------------------------
Name: Xxxxxx X. Xxxx Name: Xxxxxx X. Xxxx
----------------------- -----------------------
Title: President Title: President
---------------------- ----------------------
VALLEY PRESBYTERIAN MAGNETIC COLUMBUS DIAGNOSTIC CENTER,
RESONANCE CENTER, LP INC.
By: /s/ XXXXXX X. XXXX By: /s/ XXXXXX X. XXXX
------------------------- -------------------------
Name: Xxxxxx X. Xxxx Name: Xxxxxx X. Xxxx
----------------------- -----------------------
Title: President Title: President
---------------------- ----------------------
MEDITEK - BROWARD, INC. MEDITEK - PALM BEACH
GARDENS, INC.
By: /s/ XXXXXX X. XXXX By: /s/ XXXXXX X. XXXX
------------------------- -------------------------
Name: Xxxxxx X. Xxxx Name: Xxxxxx X. Xxxx
----------------------- -----------------------
Title: President Title: President
---------------------- ----------------------
ADVANCED MEDICAL IMAGING MEDITEK - GREYSTONE, INC.
CENTER, INC.
By: /s/ XXXXXX X. XXXX By: /s/ XXXXXX X. XXXX
------------------------- -------------------------
Name: Xxxxxx X. Xxxx Name: Xxxxxx X. Xxxx
----------------------- -----------------------
Title: President Title: President
---------------------- ----------------------
MEDITEK - ICOT, INC. KALEY IMAGING, INC.
By: /s/ XXXXXX X. XXXX By: /s/ XXXXXX X. XXXX
------------------------- -------------------------
Name: Xxxxxx X. Xxxx Name: Xxxxxx X. Xxxx
----------------------- -----------------------
Title: President Title: President
---------------------- ----------------------
MEDITEK - PALMS, INC. MEDITEK - PREMIER NORTH, INC.
By: /s/ XXXXXX X. XXXX By: /s/ XXXXXX X. XXXX
------------------------- -------------------------
Name: Xxxxxx X. Xxxx Name: Xxxxxx X. Xxxx
----------------------- -----------------------
Title: President Title: President
---------------------- ----------------------
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MEDITEK -- SUN COAST, INC. COMPUTERIZED MEDICAL
IMAGING CENTER, INC.
By: /s/ XXXXXX X. XXXX By: /s/ XXXXXX X. XXXX
----------------------- ------------------------
Name: Xxxxxx X. Xxxx Name: Xxxxxx X. Xxxx
--------------------- ----------------------
Title: President Title: President
-------------------- ---------------------
SAN FRANCISCO MAGNETIC MODESTO IMAGING CENTER, INC.
RESONANCE CENTER, INC.
By: /s/ XXXXXX X. XXXX By: /s/ XXXXXX X. XXXX
----------------------- ------------------------
Name: Xxxxxx X. Xxxx Name: Xxxxxx X. Xxxx
--------------------- ----------------------
Title: President Title: President
-------------------- ---------------------
SOUTH COAST RADIOLOGISTS, AH IMAGING CENTER, INC.
A CORPORATION
By: /s/ XXXXXX X. XXXX By: /s/ XXXXXX X. XXXX
----------------------- ------------------------
Name: Xxxxxx X. Xxxx Name: Xxxxxx X. Xxxx
--------------------- ----------------------
Title: President Title: President
-------------------- ---------------------
DI IMAGING CENTER, INC. LB IMAGING, INC.
By: /s/ XXXXXX X. XXXX By: /s/ XXXXXX X. XXXX
----------------------- ------------------------
Name: Xxxxxx X. Xxxx Name: Xxxxxx X. Xxxx
--------------------- ----------------------
Title: President Title: President
-------------------- ---------------------
MEDITEK PREMIER, INC. ORANGE PARK DIAGNOSTIC
CENTER, INC.
By: /s/ XXXXXX X. XXXX By: /s/ XXXXXX X. XXXX
----------------------- ------------------------
Name: Xxxxxx X. Xxxx Name: Xxxxxx X. Xxxx
--------------------- ----------------------
Title: President Title: President
-------------------- ---------------------
SALISBURY IMAGING, INC. BRIDGETON MRI CENTER, INC.
By: /s/ XXXXXX X. XXXX By: /s/ XXXXXX X. XXXX
----------------------- ------------------------
Name: Xxxxxx X. Xxxx Name: Xxxxxx X. Xxxx
--------------------- ----------------------
Title: President Title: President
-------------------- ---------------------
JEFFERSON MAGNETIC RESONANCE KIRKWOOD MRI CENTER, INC.
IMAGING, LLC
By: /s/ XXXXXX X. XXXX By: /s/ XXXXXX X. XXXX
----------------------- ------------------------
Name: Xxxxxx X. Xxxx Name: Xxxxxx X. Xxxx
--------------------- ----------------------
Title: President Title: President
-------------------- ---------------------
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MR OF KANSAS CITY, L.P. OUTPATIENT RADIOLOGY CENTER
By: /s/ XXXXXX X. XXXX By: /s/ XXXXXX X. XXXX
----------------------- ------------------------
Name: Xxxxxx X. Xxxx Name: Xxxxxx X. Xxxx
--------------------- ----------------------
Title: President Title: President
-------------------- ---------------------
COMMUNITY RADIOLOGY OF USDL PITTSBURGH, INC.
VIRGINIA, INC.
By: /s/ XXXXXX X. XXXX By: /s/ XXXXXX X. XXXX
----------------------- ------------------------
Name: Xxxxxx X. Xxxx Name: Xxxxxx X. Xxxx
--------------------- ----------------------
Title: President Title: President
-------------------- ---------------------
MEDITEK -- CHATHAM HEIGHTS IMAGING CENTER, INC.
INDUSTRIES, INC.
By: /s/ XXXXXX X. XXXX By: /s/ XXXXXX X. XXXX
----------------------- ------------------------
Name: Xxxxxx X. Xxxx Name: Xxxxxx X. Xxxx
--------------------- ----------------------
Title: President Title: President
-------------------- ---------------------
MEDICAL MARKETING SANTA FE IMAGING CENTER, INC.
DEVELOPMENT, INC.
By: /s/ XXXXXX X. XXXX By: /s/ XXXXXX X. XXXX
----------------------- ------------------------
Name: Xxxxxx X. Xxxx Name: Xxxxxx X. Xxxx
--------------------- ----------------------
Title: President Title: President
-------------------- ---------------------
AFFILIATED MEDICAL IMAGING USD DAYTON, INC.
NETWORK, INC.
By: /s/ XXXXXX X. XXXX By: /s/ XXXXXX X. XXXX
----------------------- ------------------------
Name: Xxxxxx X. Xxxx Name: Xxxxxx X. Xxxx
--------------------- ----------------------
Title: President Title: President
-------------------- ---------------------
WESTLAKE DIAGNOSTIC CENTER
INC.
By: /s/ XXXXXX X. XXXX
-----------------------
Name: Xxxxxx X. Xxxx
---------------------
Title: President
--------------------
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GUARANTORS
HE Imaging Partners, Ltd.
Pinnacle Imaging Associates
Valley Presbyterian Magnetic Resonance Center, LP
Columbus Diagnostic Center, Inc.
MediTek -- Broward, Inc.
MediTek -- Palm Beach Gardens, Inc.
ADvanced Medical Imaging Center, Inc.
MediTek -- Greystone, Inc.
MediTek -- ICOT, Inc.
Kaley Imaging, Inc.
MediTek -- Palms, Inc.
MediTek -- Premier North, Inc.
MediTek -- Sun Coast, Inc.
Computerized Medical Imaging Center, Inc.
San Francisco Magnetic Resonance Center, Inc.
Modesto Imaging Center, Inc.
South Coast Radiologists, a Corporation
AH Imaging, Inc.
DI Imaging Center, Inc.
LB Imaging, Inc.
MediTek Premier, Inc.
Orange Park Diagnostic Center, Inc.
Salisbury Imaging, Inc.
Jefferson Magnetic Resonance Imaging, LLC
MR of Kansas City, L.P.
Outpatient Radiology Center
Community Radiology of Virginia, Inc.
USDL Pittsburgh, Inc.
MediTek -- Chatham Industries, Inc.
Heights Imaging Center, Inc.
Medical Marketing Development, Inc.
Santa Fe Imaging Center, Inc.
Affiliated Medical Imaging Network, Inc.
USD Dayton, Inc.
EXHIBIT "A"
TO
ACKNOWLEDGMENT AND CONFIRMATION
OF GUARANTIES
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Westlake Diagnostic Center, Inc.
MICA Imaging, Inc.
Bridgeton MRI Center, Inc.
Kirkwood MRI Center, Inc.
EXHIBIT "A" (continued)
to
ACKNOWLEDGMENT AND CONFIRMATION
OF GUARANTORS
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