EX-4.2 3 d753420dex42.htm EX-4.2 EX-4.2

Exhibit 4.2

Execution Copy

RATIFICATION AGREEMENT

This RATIFICATION AGREEMENT, dated as of July 2, 2014 (this “Ratification”), to the Credit Agreement referred to below is delivered by each of the undersigned (each a “Loan Party”). Capitalized terms used herein but not defined have the meaning prescribed to them in the Credit Agreement.

W I T N E S S E T H:

WHEREAS, Integra LifeSciences Holdings Corporation (“Borrower”), Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer (“Bank”), and the other lenders from time to time party thereto (the “Lenders”) entered into that certain Amended and Restated Credit Agreement dated as of August 10, 2010 (as amended, restated, supplemented or otherwise modified from time to time, the “Original Credit Agreement”);

WHEREAS, in connection with the Original Credit Agreement, the Loan Parties executed that certain Amended and Restated Subsidiary Guaranty dated as of August 10, 2010 (as amended, restated, supplemented or otherwise modified from time to time, the “Guaranty”);

WHEREAS, in connection with the Original Credit Agreement, the Loan Parties executed that certain Amended and Restated Security Agreement dated as of August 10, 2010 (as amended, restated, supplemented or otherwise modified from time to time, the “Security Agreement”);

WHEREAS, in connection with the Original Credit Agreement, the Loan Parties executed that certain Amended and Restated Pledge Agreement dated as of August 10, 2010 (as amended, restated, supplemented or otherwise modified from time to time, the “Pledge Agreement”, and collectively with the Guaranty and the Security Agreement, the “Ratified Documents”);

WHEREAS, the Original Credit Agreement was amended and restated June 8, 2011 (as amended, restated, supplemented or otherwise modified from time to time, the “Existing Credit Agreement”) and in connection therewith, all obligations under the Ratified Documents were ratified in accordance with that certain Ratification Agreement dated as of June 8, 2011;

WHEREAS, the parties to the Existing Credit Agreement have agreed to enter into a Third Amended and Restated Credit Agreement (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”);

WHEREAS, it is a condition of effectiveness of the Credit Agreement that each Loan Party deliver to the Administrative Agent and the Lenders an executed counterpart of this Ratification;

NOW THEREFORE, in consideration of the agreements set forth above, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

1.1 Acknowledgment and Ratification of the Ratified Documents. Each Loan Party hereby (a) acknowledges its receipt and review of, and acknowledges the terms and conditions under, the Credit Agreement, (b) agrees to be bound by Section 10.20 of the Credit Agreement, (c) agrees that all the references in the Ratified Documents to the “Credit Agreement” shall be deemed to refer to the Credit Agreement and any amendment, restatement, supplement or other modification thereof from time to time in accordance with its terms, (d) represents and warrants that attached hereto as Exhibit A (excluding Item C to Schedule I of the Security Agreement, it being understood that Item C to Schedule I of the Security Agreement shall be delivered in accordance with Section 6.16 of the Credit Agreement) (the “Updated Schedules”) are true and correct in all material respects as of the date hereof, (e) agrees that with respect to Domestic Subsidiaries that own no material assets other than equity interest in one or more Foreign Subsidiaries, to the extent necessary to avoid adverse tax consequences for such Domestic Subsidiary, the pledge of the capital stock or Equity Interests of such Domestic Subsidiaries shall constitute no more than (i) 65% of the voting rights in such entity and (ii) 100% of all other rights in such entity, (f) acknowledges that the terms and conditions of the Ratified Documents remain unchanged as of the date hereof except for the substitution of the Updated Schedules as the applicable schedules to the Pledge Agreement and the Security Agreement as of the date hereof, and (g) agrees that the Ratified Documents (including the Updated Schedules) are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.

1.2 Grant. Without limiting the generality or effectiveness of the ratification set forth in Section 1 hereof, and in consideration of the Third Amended and Restated Credit Agreement and the modifications and amendments therein, each of the undersigned Loan Parties hereby pledges, assigns, charges, mortgages, delivers, and transfers to the Administrative Agent, for its benefit and for the ratable benefit of the Secured Parties, a continuing security interest in all of such party’s right, title and interest in and to (a) the Collateral, as such term is defined in the Pledge Agreement, to secure the Secured Obligations, as such term is defined in the Pledge Agreement and (b) the Collateral, as such term is defined in the Security Agreement, to secure the Secured Obligations, as such term is defined in the Security Agreement, in each case subject in all respects to the terms and conditions of the Pledge Agreement or Security Agreement, as applicable.

1.3 Confirmation of the Ratified Documents. All of the indebtedness, liabilities and obligations owing by the Loan Parties under the Ratified Documents shall continue as obligations hereunder and thereunder and neither the execution and delivery of this Ratification nor the consummation of any other transaction contemplated hereunder is intended to constitute a novation of the Ratified Documents or the security interests created thereunder.

1.4 Loan Document. This Ratification shall constitute a Loan Document under the terms of the Credit Agreement.

1.5 Counterparts; Telecopy. This Ratification may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Ratification shall become effective when it shall have been executed by Bank and when Bank shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page of this Ratification by telecopy or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Ratification.

 

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1.6 GOVERNING LAW. THIS RATIFICATION SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF.

[Signature Pages Follow]

 

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IN WITNESS WHEREOF, the undersigned have caused this Ratification to be executed by their respective officers thereunto duly authorized, as of the date first above written.

 

INTEGRA LIFESCIENCES HOLDINGS
CORPORATION, a Delaware corporation

By:   /s/ Peter J. Arduini
Name:   Peter J. Arduini
Title:   President, Chief Executive Officer

 

ASCENSION ORTHOPEDICS, INC., a

Delaware corporation

By:   /s/ Peter J. Arduini
Name:   Peter J. Arduini
Title:   President, Chief Executive Officer

 

CONFLUENT SURGICAL, INC., a Delaware corporation

By:   /s/ Peter J. Arduini
Name:   Peter J. Arduini
Title:   President, Chief Executive Officer

 

ENDOSOLUTIONS, INC., a Delaware corporation

By:   /s/ Peter J. Arduini
Name:   Peter J. Arduini
Title:   President, Chief Executive Officer

 

INTEGRA BURLINGTON MA, INC., a

Delaware corporation

By:   /s/ Peter J. Arduini
Name:   Peter J. Arduini
Title:   President, Chief Executive Officer

RATIFICATION AGREEMENT

Signature Page

INTEGRA LIFESCIENCES CORPORATION, a

Delaware corporation

By:   /s/ Peter J. Arduini
Name:   Peter J. Arduini
Title:   President, Chief Executive Officer

 

INTEGRA LIFESCIENCES SALES LLC, a

Delaware limited liability company

By:

   Integra LifeSciences Corporation as its Sole Member
By:   /s/ Peter J. Arduini
Name:   Peter J. Arduini
Title:   President and Chief Executive Officer

 

INTEGRA NEUROSCIENCES (INTERNATIONAL), INC., a Delaware corporation

By:   /s/ Peter J. Arduini
Name:   Peter J. Arduini
Title:   President, Chief Executive Officer

 

INTEGRA YORK PA, INC., a Delaware corporation

By:   /s/ Peter J. Arduini
Name:   Peter J. Arduini
Title:   Vice President

 

J. JAMNER SURGICAL INSTRUMENTS, INC., a Delaware corporation

By:   /s/ Peter J. Arduini
Name:   Peter J. Arduini
Title:   Vice President

 

SEASPINE, INC., a Delaware corporation

By:   /s/ Peter J. Arduini
Name:   Peter J. Arduini
Title:   President, Chief Executive Officer

RATIFICATION AGREEMENT

Signature Page

ACKNOWLEDGED AND ACCEPTED:
BANK OF AMERICA, N.A.,
    as Administrative Agent
By:   /s/ Kevin L. Ahart
Name:   Kevin L. Ahart
Title:   Vice President

RATIFICATION AGREEMENT

Signature Page

EXHIBIT A

See attached.

UPDATED SCHEDULE I TO PLEDGE AGREEMENT

 

Item A. Pledged Notes

 

Pledgor (Holder)

  

Securities Issuer (Maker)

    Date      Original
Principal Amount		  

Integra LifeSciences Holdings Corporation

   J. Jamner Surgical Instruments, Inc.      12-22-04       $ 24,000,000.00   

Integra LifeSciences Holdings Corporation

   Integra LifeSciences Corporation      05-12-06       $ 101,000,000.00   

Integra LifeSciences Holdings Corporation

   Integra LifeSciences Corporation      05-07-07       $ 30,000,000.00   

Integra LifeSciences Holdings Corporation

   Integra LifeSciences Corporation      05-11-07       $ 4,000,000.00   

Integra LifeSciences Holdings Corporation

   Integra LifeSciences Corporation      12-28-07       $ 4,112,500.00   

Integra LifeSciences Holdings Corporation

   Integra LifeSciences Corporation      11-30-09       $ 12,500,000.00   

Integra LifeSciences Holdings Corporation

   Integra LifeSciences Corporation      08-10-10       $ 600,000,000.00   

Integra LifeSciences Holdings Corporation

   EndoSolutions, Inc.      08-10-10       $ 600,000,000.00   

Integra LifeSciences Holdings Corporation

   J. Jamner Surgical Instruments, Inc.      08-10-10       $ 600,000,000.00   

Integra LifeSciences Holdings Corporation

   Integra Luxtec, Inc.      08-10-10       $ 600,000,000.00   

Integra LifeSciences Holdings Corporation

   Integra NeuroSciences (International), Inc.      08-10-10       $ 600,000,000.00   

Integra LifeSciences Holdings Corporation

   Integra Radionics, Inc.      08-10-10       $ 600,000,000.00   

Integra LifeSciences Holdings Corporation

   IsoTis OrthoBiologics, Inc.      08-10-10       $ 600,000,000.00   

Integra LifeSciences Holdings Corporation

   Miltex, Inc.      08-10-10       $ 600,000,000.00   

Integra LifeSciences Holdings Corporation

   Minnesota Scientific, Inc.      08-10-10       $ 600,000,000.00   

Integra LifeSciences Corporation

   Theken Spine, LLC      08-10-10       $ 600,000,000.00   

Pledgor (Holder)

  

Securities Issuer (Maker)

    Date      Original
Principal Amount		  

Integra LifeSciences Holdings Corporation

   SeaSpine, Inc.      07-21-11       $ 600,000,000.00   

Integra LifeSciences Holdings Corporation

   Integra LifeSciences Corporation      10-19-10       $ 30,000,000.00   

Integra LifeSciences Holdings Corporation

   Integra LifeSciences Corporation      09-23-11       $ 50,000,000.00   

Integra LifeSciences Holdings Corporation

   Ascension Orthopedics, Inc.      11-18-11       $ 600,000,000.00   

Integra LifeSciences Holdings Corporation

   Integra LifeSciences Sales LLC      10-31-12       $ 600,000,000.00   

Integra LifeSciences Holdings Corporation

   Integra LifeSciences Corporation      07-28-13       $ 14,205,812.00   

Integra LifeSciences Holdings Corporation

   Integra LifeSciences Corporation      09-01-13       $ 20,000,000.00   

Integra LifeSciences Corporation

   Integra Euro Holdings Inc.      12-06-13       $ 141,122.82   

Integra LifeSciences Holdings Corporation

   Integra LifeSciences Corporation      01-15-14       $ 150,000,000.00   

Integra LifeSciences Holdings Corporation

   Confluent Surgical, Inc.      03-13-14       $ 600,000,000.00   

 

Item B. Pledged Shares

 

Pledgor

  

Securities Issuer

   Authorized Shares
Interests		     Outstanding
Shares		     % of Shares
Pledged		     Certificate
No.		  

Integra LifeSciences Holdings Corporation

   Integra LifeSciences Corporation     100 common        100        100 %      2   

Integra LifeSciences Corporation

   J. Jamner Surgical Instruments, Inc.     2,000 common        500        100 %      124   

Integra LifeSciences Corporation

   Integra NeuroSciences (International), Inc.     3,000 common        100        100 %      2   

Integra LifeSciences Corporation

   Integra York PA, Inc. (f/k/a Miltex, Inc.)     1,000 common        100        100 %      3   

Pledgor

   

Securities Issuer

    Authorized Shares
Interests		      Outstanding
Shares		      % of Shares
Pledged		     Certificate
No.		  

Integra York PA, Inc.

    EndoSolutions, Inc.      1,000 common         100         100 %      3   

Integra LifeSciences Corporation

    Integra LifeSciences (Canada) Holdings, Inc.      1,000 common         100         100 %      1   

Integra LifeSciences Corporation

    IsoTis, Inc.     

 

 

 100,000,000 common

 

10,000,000 preferred

   

 

  

      1,000 common         100 %      1   

Integra LifeSciences Corporation

    Precise Dental Holding Corp.      2,000 common         50 -2/3         100 %      15   

Integra York PA, Inc.

    Integra Euro Holdings, Inc.      2,000 common         28         100 %      4   

J. Jamner Surgical Instruments, Inc.

    Integra Euro Holdings, Inc.      2,000 common         313         100 %      5   

Integra NeuroSciences (International), Inc.

    Integra Euro Holdings, Inc.      2,000 common         669         100 %      6   

Integra LifeSciences Corporation

    Integra Burlington MA, Inc. (f/k/a Integra Radionics, Inc.)      1,000 common         100         100 %      1   

Integra LifeSciences Corporation

    SeaSpine, Inc.      3,000 common         1,451         100 %      54   

Integra LifeSciences Corporation

    Ascension Orthopedics, Inc.      100 Common         100         100 %      1   

Integra LifeSciences Corporation

    Confluent Surgical, Inc.     

 

 
 

 6,500,000 Common

 

41,136,859 all
classes

   

 

  
  

      88.02 common         100 %      5   

Item C. Pledged Membership Interests

 

Pledgor

   

Securities Issuer

    No. of Membership
Interests		      Membership
Interests % of
Interests Pledged		     Certificate
No.		  

Integra LifeSciences Corporation

    Integra LifeSciences Sales LLC (Delaware)      1         100 %      2   

 

Item D. Pledged Partnership Interests

None.

UPDATED SCHEDULE I TO SECURITY AGREEMENT

 

Item A. State of Organization, Identification Number, Chief Executive Office

 

Grantor; Chief Executive Office

    State of Organization    Identification
Number

Integra LifeSciences Holdings Corporation

    Delaware    2199700

311 Enterprise Drive

      

Plainsboro, NJ 08536

      

Ascension Orthopedics, Inc.

    Delaware    2686969

8700 Cameron Road

      

Austin, TX 78754

      

Confluent Surgical, Inc.

    Delaware    2928705

311 Enterprise Drive

      

Plainsboro, NJ 08536

      

EndoSolutions, Inc.

    Delaware    3436217

589 Davies Drive

      

York, PA 17402

      

Integra LifeSciences Corporation

    Delaware    2363821

311 Enterprise Drive

      

Plainsboro, NJ 08536

      

Integra LifeSciences Sales LLC

    Delaware    3826429

311 Enterprise Drive

      

Plainsboro, NJ 08536

      

Integra NeuroSciences (International), Inc.

    Delaware    2902491

311 Enterprise Drive

      

Plainsboro, NJ 08536

      

Integra Burlington MA, Inc.

    Delaware    4077406

22 Terry Avenue

      

Burlington, MA 01803

      

Integra York PA, Inc.

    Delaware    4079576

589 Davies Drive

      

York, PA 17402

      

J. Jamner Surgical Instruments, Inc.

    Delaware    0769265

40 Saw Mill River Road, Suite UL-4

      

Hawthorne, NY 10532

      

SeaSpine, Inc.

    Delaware    3506438

2302 La Mirada

      

Vista, California 92081

      

Item B. Location of Equipment & Inventory (Owned Locations)

 

Grantor Mailing Address

   

County

   

State

     

Integra York PA, Inc.

    York    Pennsylvania   

589 Davies Drive

         

York, PA 17402

         

Integra LifeSciences Corporation

    Hamilton    Ohio   

4900 Charlemar Drive

         

Cincinnati, OH 45227

         

 

Item C. Leased Property; Bailees

To be delivered pursuant to Section 6.16(b) of the Credit Agreement.

 

Item D. Trade Names

 

Grantor

   

Trade Name

Integra LifeSciences Corporation

    Integra

Integra LifeSciences Corporation

    Integra LifeSciences

Integra LifeSciences Corporation

    Integra NeuroSciences

Integra LifeSciences Corporation

    Integra Neurosupplies (NSI)

Integra LifeSciences Corporation

    Integra Pain Management

J. Jamner Surgical Instruments, Inc.

    Jarit Instruments

Integra York PA, Inc.

    Miltex

 

Item E. Commercial Tort Claims

 

             Description of          

Grantor

           

Commercial Tort Claim

          

None