Common use of Term Note Clause in Contracts

Term Note. The obligation of Borrower to repay the Term Loan shall be evidenced by the Term Note executed by Borrower, payable to the order of Lender, in the principal amount of the Term Loan and dated February 14, 1997. The principal of the Term Loan, plus accrued and unpaid interest thereon, shall be due and payable in: (a) nine (9) consecutive installments each equal to SEVENTY-ONE THOUSAND AND NO/100 DOLLARS ($71,000.00) of principal, together with all accrued and unpaid interest, the first of such installments being due and payable on or before April 1, 1997 and like installments being due and payable on the first day of each succeeding third calendar month thereafter through and including April 1, 1999; and (b) a final installment due and payable on July 1, 1999 in an amount equal to the remaining unpaid principal amount outstanding on the Term Loan, together with all accrued and unpaid interest. The Term Loan shall bear interest prior to maturity at a varying rate per annum equal from day to day to the lesser of (a) the Maximum Rate or (b) the sum of the Bank One Texas Base Rate in effect from day to day plus one-half of one percent (1/2%), each such change in the rate of interest charged hereunder to become effective, without notice to Borrower, on the effective date of each change in the Bank One Texas Base Rate; provided, however, if at any time the rate of interest specified in clause (b) preceding shall exceed the Maximum Rate, thereby causing the interest on the Term Loan to be limited to the Maximum Rate, then any subsequent reduction in the Bank One Texas Base Rate shall not reduce the rate of interest on the Term Loan below the Maximum Rate until the aggregate amount of interest accrued on the Term Loan equals the aggregate amount of interest which would have accrued on the Term Loan if the interest rate specified in clause (b) preceding had at all times been in effect. All past due principal and interest shall bear interest at the Maximum Rate.

Term Note. The obligation of Borrower to repay the Term Loan shall be evidenced by the Term Note executed by Borrower, payable to the order of Lender, in the principal amount of the Term Loan and dated February 14, 1997. The principal of the Term Loan, plus accrued and unpaid interest thereon, shall be due and payable in: (a) nine (9) consecutive installments each equal to SEVENTYSIX HUNDRED FORTY-ONE NINE THOUSAND AND NO/100 DOLLARS ($71,000.00649,000.00) of principal, together with all accrued and unpaid interest, the first of such installments being due and payable on or before April 1, 1997 and like installments being due and payable on the first day of each succeeding third calendar month thereafter through and including April 1, 1999; and (b) a final installment due and payable on July 1, 1999 in an amount equal to the remaining unpaid principal amount outstanding on the Term Loan, together with all accrued and unpaid interest. The Term Loan shall bear interest prior to maturity at a varying rate per annum equal from day to day to the lesser of (a) the Maximum Rate or (b) the sum of the Bank One Texas Base Rate in effect from day to day plus one-half of one percent (1/2%), each such change in the rate of interest charged hereunder to become effective, without notice to Borrower, on the effective date of each change in the Bank One Texas Base Rate; provided, however, if at any time the rate of interest specified in clause (b) preceding shall exceed the Maximum Rate, thereby causing the interest on the Term Loan to be limited to the Maximum Rate, then any subsequent reduction in the Bank One Texas Base Rate shall not reduce the rate of interest on the Term Loan below the Maximum Rate until the aggregate amount of interest accrued on the Term Loan equals the aggregate amount of interest which would have accrued on the Term Loan if the interest rate specified in clause (b) preceding had at all times been in effect. All past due principal and interest shall bear interest at the Maximum Rate.

Term Note. The obligation of Borrower to repay the Term Loan shall be evidenced by the Term Note executed by Borrower, payable to the order of Lender, in the principal amount of the Term Loan and dated February 14October 1, 19971995. The principal of the Term Loan, plus accrued and unpaid interest thereon, shall be due and payable in: (a) nine seven (97) consecutive installments each equal to FIVE HUNDRED SEVENTY-ONE NINE THOUSAND AND NO/100 DOLLARS ($71,000.00579,000.00) of principal, together with all accrued and unpaid interest, the first of such installments being due and payable on or before April January 1, 1997 1996 and like installments being due and payable on the first day of each succeeding third calendar month thereafter through and including April July 1, 19991997; and (b) a final installment due and payable on July October 1, 1999 1997 in an amount equal to the remaining unpaid principal amount outstanding on the Term Loan, together with all accrued and unpaid interest. The Effective October 1, 1995, the Term Loan shall bear interest prior to maturity at a varying rate per annum equal from day to day to the lesser of (a) the Maximum Rate or (b) the sum of the Bank One Texas Base Rate in effect from day to day plus one-half of one percent (1/2%), each such change in the rate of interest charged hereunder to become effective, without notice to Borrower, on the effective date of each change in the Bank One Texas Base Rate; provided, however, if at any time the rate of interest specified in clause (b) preceding shall exceed the Maximum Rate, thereby causing the interest on the Term Loan to be limited to the Maximum Rate, then any subsequent reduction in the Bank One Texas Base Rate shall not reduce the rate of interest on the Term Loan below the Maximum Rate until the aggregate amount of interest accrued on the Term Loan equals the aggregate amount of interest which would have accrued on the Term Loan if the interest rate specified in clause (b) preceding had at all times been in effect. All past due principal and interest shall bear interest at the Maximum Rate.

Term Note. The obligation of Borrower to repay the Term Loan shall be evidenced by the Term Note executed by Borrower, payable to the order of Lender, in the principal amount of the Term Loan and dated February 14, 1997of even date herewith. The principal of the Term Loan, plus accrued and unpaid interest thereon, shall be due and payable in: : (a) nine thirteen (913) consecutive installments each equal to SEVENTY-ONE THOUSAND AND NO/100 DOLLARS ($71,000.00) of principal, together with all accrued and unpaid interest, the first of such installments being due and payable on or before April July 1, 1997 1994 and like installments being due and payable on the first day of each succeeding third calendar month thereafter through and including April July 1, 19991997; and and (b) a final installment due and payable on July October 1, 1999 1997 in an amount equal to the remaining unpaid principal amount outstanding on the Term Loan, together with all accrued and unpaid interest. The Term Loan shall bear interest prior to maturity at a varying rate per annum equal from day to day to the lesser of (a) the Maximum Rate or (b) the sum of the Bank One Texas Base Rate in effect from day to day plus onethree-half quarters of one and percent (1/23/4%), each such change in the rate of interest charged hereunder to become effective, without notice to Borrower, on the effective date of each change in the Bank One Texas Base Rate; provided, however, if at any time the rate of interest specified in clause (b) preceding shall exceed the Maximum Rate, thereby causing the interest on the Term Loan to be limited to the Maximum Rate, then any subsequent reduction in the Bank One Texas Base Rate shall not reduce the rate of interest on the Term Loan below the Maximum Rate until the aggregate amount of interest accrued on the Term Loan equals the aggregate amount of interest which would have accrued on the Term Loan if the interest rate specified in clause (b) preceding had at all times been in effect. All past due principal and interest shall bear interest at the Maximum Rate.

Term Note. The obligation of Borrower to repay the Term Loan shall be evidenced by the Term Note executed by Borrower, payable to the order of Lender, in the principal amount of the Term Loan and dated February 14, 1997of even date herewith. The principal of the Term Loan, plus accrued and unpaid interest thereon, shall be due and payable in: (a) nine seven (97) consecutive installments each equal to SEVENTY-ONE THOUSAND AND NO/100 DOLLARS ($71,000.00) of principal, together with all accrued and unpaid interest, the first of such installments being due and payable on or before April January 1, 1997 1996 and like installments being due and payable on the first day of each succeeding third calendar month thereafter through and including April July 1, 19991997; and (b) a final installment due and payable on July October 1, 1999 1997 in an amount equal to the remaining unpaid principal amount outstanding on the Term Loan, together with all accrued and unpaid interest. The Effective October 1, 1995, the Term Loan shall bear interest prior to maturity at a varying rate per annum equal from day to day to the lesser of (a) the Maximum Rate or (b) the sum of the Bank One Texas Base Rate in effect from day to day plus one-half of one percent (1/2%), each such change in the rate of interest charged hereunder to become effective, without notice to Borrower, on the effective date of each change in the Bank One Texas Base Rate; provided, however, if at any time the rate of interest specified in clause (b) preceding shall exceed the Maximum Rate, thereby causing the interest on the Term Loan to be limited to the Maximum Rate, then any subsequent reduction in the Bank One Texas Base Rate shall not reduce the rate of interest on the Term Loan below the Maximum Rate until the aggregate amount of interest accrued on the Term Loan equals the aggregate amount of interest which would have accrued on the Term Loan if the interest rate specified in clause (b) preceding had at all times been in effect. All past due principal and interest shall bear interest at the Maximum Rate.

Term Note. The obligation of Borrower to repay the Term Loan shall be evidenced by the Term Note executed by Borrower, payable to the order of Lender, in the principal amount of the Term Loan and dated February 14, 1997of even date herewith. The principal of the Term Loan, plus accrued and unpaid interest thereon, shall be due and payable in: : (a) nine fourteen (914) consecutive installments each equal to FOUR HUNDRED SEVENTY-ONE NINE THOUSAND AND NO/100 DOLLARS ($71,000.00479,000.00) of principal, together with all accrued and unpaid interest, the first of such installments being due and payable on or before April 1, 1997 1994 and like installments being due and payable on the first day of each succeeding third calendar month thereafter through and including April July 1, 19991997; and and (b) a final installment due and payable on July October 1, 1999 1997 in an amount equal to the remaining unpaid principal amount outstanding on the Term Loan, together with all accrued and unpaid interest. The Term Loan shall bear interest prior to maturity at a varying rate per annum equal from day to day to the lesser of (a) the Maximum Rate or (b) the sum of the Bank One Texas Base Rate in effect from day to day plus onethree-half quarters of one percent (1/23/4%), each such change in the rate of interest charged hereunder to become effective, without notice to Borrower, on the effective date of each change in the Bank One Texas Base Rate; provided, however, if at any time the rate of interest specified in clause (b) preceding shall exceed the Maximum Rate, thereby causing the interest on the Term Loan to be limited to the Maximum Rate, then any subsequent reduction in the Bank One Texas Base Rate shall not reduce the rate of interest on the Term Loan below the Maximum Rate until the aggregate amount of interest accrued on the Term Loan equals the aggregate amount of interest which would have accrued on the Term Loan if the interest rate specified in clause (b) preceding had at all times been in effect. All past due principal and interest shall bear interest at the Maximum Rate.