AMENDED AND RESTATED REVOLVING NOTE
Exhibit 10.2
AMENDED AND RESTATED
REVOLVING NOTE
REVOLVING NOTE
$8,500,000.00
St. Louis, Missouri
June 7, 2007
June 7, 2007
FOR VALUE RECEIVED, the undersigned, SYNERGETICS, INC., a Missouri corporation, and
SYNERGETICS USA, INC., a Delaware corporation (individually, a “Borrower” and together, the
“Borrowers”), hereby jointly and severally promise to pay on the Termination Date to the order of
Regions Bank (the “Lender”), at its main office in St. Louis, Missouri, or at any other place
designated at any time by the holder hereof, in lawful money of the United States of America and in
immediately available funds, the principal sum of Eight Million Five Hundred Thousand and
00/100 ($8,500,000.00) or, if less, the aggregate unpaid principal amount of all
Advances and Swing Line Loans made by the Lender to the Borrowers under the Credit Agreement
(defined below), together with interest on the principal amount hereunder remaining unpaid from
time to time, computed on the basis of the actual number of days elapsed and a 360-day year, from
the date hereof until this Note is fully paid at the rate from time to time in effect under the
Credit and Security Agreement dated as of March 13, 2006, as heretofore amended by First Amendment
dated as of September 26, 2006, by Second Amendment dated as of December 8, 2006 and by Third
Amendment of even date herewith (as so amended, the “Credit Agreement”) by and among the Lender and
the Borrowers. The principal hereof and interest accruing thereon shall be due and payable as
provided in the Credit Agreement. This Note may be prepaid only in accordance with the Credit
Agreement.
This Note is issued pursuant, and is subject, to the Credit Agreement, which provides, among
other things, for acceleration hereof. This Note is the Revolving Note referred to in the Credit
Agreement. This Note evidences not only all Advances of Lender under the Revolving Credit Facility
but also all Swing Line Loans made by Lender pursuant to Section 2.1A of the Credit Agreement.
This Note, among other things, is secured pursuant to the Credit Agreement and the Security
Documents as therein defined, and may now or hereafter be secured by one or more other security
agreements, mortgages, deeds of trust, assignments or other instruments or agreements.
The Borrowers hereby agree to pay all costs of collection, including attorneys’ fees and legal
expenses in the event this Note is not paid when due, whether or not legal proceedings are
commenced.
Presentment or other demand for payment, notice of dishonor and protest are expressly waived.
This Note shall be governed by the internal substantive laws of the State of Missouri, without
regard for its conflicts-of-law principles.
This Note is a replacement for, but not a novation or refinancing of: (A) the Revolving Note
dated as of September 26, 2006, as amended by Xxxxxxx and Restated Revolving Note
dated as of December 8, 2006, by Xxxxxxxxx payable to the order of Lender; and (B) the
Revolving Note dated as of September 26, 2006, as amended by Xxxxxxx and Restated Revolving Note
dated as of December 8, 2006, by Borrowers payable to the order of Wachovia Bank National
Association, which Note has been purchased by Lender. This Note does not evidence or effect a
release, or relinquishment of the priority, of the security interests in any Collateral (as defined
in the Credit Agreement).
ORAL AGREEMENTS OR COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR TO FORBEAR FROM ENFORCING
REPAYMENT OF A DEBT INCLUDING PROMISES TO EXTEND OR RENEW SUCH DEBT ARE NOT ENFORCEABLE, REGARDLESS
OF THE LEGAL THEORY UPON WHICH IT IS BASED, THAT IS IN ANY WAY RELATED TO THE CREDIT AGREEMENT. TO
PROTECT YOU (BORROWERS) AND US (LENDER) FROM MISUNDERSTANDING OR DISAPPOINTMENT, ANY AGREEMENTS WE
REACH COVERING SUCH MATTERS ARE CONTAINED IN THIS WRITING (THIS NOTE, THE CREDIT AGREEMENT AND THE
LOAN DOCUMENTS REFERRED TO THEREIN), WHICH IS THE COMPLETE AND EXCLUSIVE STATEMENTS OF THE
AGREEMENT BETWEEN US, EXCEPT AS WE MAY LATER AGREE IN WRITING TO MODIFY IT.
BORROWERS: SYNERGETICS, INC. |
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By: | /s/ Xxxxxx X. Xxxxx | |||
Name: | Xxxxxx X. Xxxxx | |||
Title: | Chief Financial Officer | |||
and SYNERGETICS USA, INC. |
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By: | /s/ Xxxxxx X. Xxxxx | |||
Name: | Xxxxxx X. Xxxxx | |||
Title: | Chief Financial Officer | |||