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Consent To Stock Repurchase Program

This is an actual contract by American Science & Engineering.

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Sectors: Manufacturing
Governing Law: Massachusetts, View Massachusetts State Laws
Effective Date: November 14, 2008
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CONSENT TO STOCK REPURCHASE PROGRAM



This consent to Loan and Security Agreement (this "Consent") is entered into this 14th day of November, 2008 by and between Silicon Valley Bank ("Bank") and American Science and Engineering, Inc., a Massachusetts corporation ("Borrower").



RECITALS



A. Bank and Borrower have entered into that certain Loan and Security Agreement dated as of August 11, 2003, as amended by a certain First Loan Modification Agreement dated as of June 30, 2004, between Borrower and Bank, as amended by a certain Second Loan Modification Agreement dated as of November 30, 2004, between Borrower and Bank, as further amended by a certain Third Loan Modification Agreement dated as of November 16, 2006, between Borrower and Bank, and as further amended by a certain Fourth Loan Modification Agreement dated as of November 14, 2008 (as the same may from time to time be further amended, modified, supplemented or restated, the "Loan Agreement"). Bank has extended credit to Borrower for the purposes permitted in the Loan Agreement.





B. Borrower is contemplating: (i) entering into a capital stock repurchase program, and (ii) making a dividend payment (collectively, the " Transactions"). Borrower has requested that Bank consent to the Transactions.





C. Bank has agreed to so consent to the Transactions, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below.



AGREEMENT



NOW, THEREFORE, in consideration of the foregoing recitals and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as f
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