Discretion of Bank. THE BORROWER ACKNOWLEDGES THAT THE BANK IS NOT OBLIGATED HEREUNDER TO MAKE ANY ADVANCE, AND THAT THE BANK MAY REFUSE TO MAKE ANY ADVANCE REQUESTED BY THE BORROWER, AND MAY DEMAND PAYMENT OF THE NOTE IN FULL, AT ANY TIME AND FOR ANY REASON, WHETHER ARISING BEFORE, ON OR AFTER THE DATE HEREOF AND WHETHER OR NOT THE BORROWER IS IN COMPLIANCE WITH THE OTHER TERMS OF THIS LETTER AGREEMENT AND THE MULTIBANK CREDIT AGREEMENT, OR FOR NO REASON AT ALL. The Borrower's signature below indicates its approval of all of the terms of this Letter Agreement and its agreement to abide by those terms. Very truly yours, NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION By /s/ Xxxx X. Xxxxxxxxxx ---------------------------------- Its Vice President ------------------------------ Accepted and agreed to as of the 25th day of March, 1999 G&K SERVICES, INC. By /s/ Xxxxxxx X. Xxxxxx ---------------------------------- Its Chief Financial Officer ----------------------------- EXHIBIT A PROMISSORY NOTE $10,000,000 Minneapolis, Minnesota March 25, 1999 For value received, G&K Services, Inc., a Minnesota corporation (the "Borrower"), promises to pay to the order of Norwest Bank Minnesota, National Association, a national banking association (the "Bank"), at its main office in Minneapolis, Minnesota, or at such other place as the holder hereof may hereafter from time to time designate in writing, ON DEMAND, or, if demand is not sooner made, on the Facility Termination Date (as defined in the Letter Agreement described below), in lawful money of the United States of America, the principal sum of Ten Million Dollars ($10,000,000), or, if less, the aggregate unpaid principal amount of all advances made by the Bank to the Borrower pursuant to the letter agreement of even date herewith between the Borrower and the Bank (the "Letter Agreement"), and to pay interest on the principal balance of this Note outstanding from time to time (computed on the basis of the actual number of days elapsed in a 360-day year) from the date hereof until this Note is fully paid, at the Floating Rate, as defined below; provided, however, that any Eurodollar Rate Amount selected by the Borrower in accordance with the following paragraph shall bear interest at the applicable Eurodollar Rate for the Interest Period determined pursuant to the following paragraph, subject to fluctuations in the Margin, but after the Interest Period such Eurodollar Rate Amount shall bear interest at the Floating Rate. On any bank business d...
Discretion of Bank. Notwithstanding any other terms of this Agreement, Eligible Receivables, the Borrowing Base, Eligible Inventory, and appropriate reserve levels from the availability under the Borrowing Base, shall be determined by the Bank from time to time in its sole reasonable discretion.
Discretion of Bank. The approval and disbursement is at the sole discretion of Fidelity Bank and no commitment has been given regarding same. Bank Official (person who booked the loan) Acceptance signature of the applicant Name: Name: Address: Address: Contact Tel No: Contact Tel No: Signature: Signature: D D M M Y Y Y Y D D M M Y Y Y Y Date: Date: MOST IMPORTANT DOCUMENT DIRECT PAYROLL DEDUCTION Bank Copy Dear Customer, please read and sign to confirm that all rellevant information has been provided to you Dear Customer, Thank you for your application to avail the “Personal loan” facility of Fidelity Bank. Please read the following and sign your acceptance of same.
Discretion of Bank. The approval and disbursement is at the sole discretion of Fidelity Bank and no commitment has been given regarding same. Bank Official (person who booked the loan) Acceptance signature of the applicant Name: Name: Address: Address: Contact Tel No: Contact Tel No: Signature: Signature: D D M M Y Y Y Y D D M M Y Y Y Y Date: Date: DECLARATION ON U.S PERSON STATUS This section of the form must be completed by any individual who is applying for the loan facility. Please complete in BLOCK LETTERS. Name: Country of Residence: Country of Birth: Please tick ‘‘√’’ Yes or No for each of the following questions:
