1
EXHIBIT 2.7
TERM NOTE
$12,650,000 November 30, 1999
Xeta Corporation, an Oklahoma corporation (the "Borrower"), promises to
pay to the order of Bank One, Oklahoma, NA (the "Lender") the aggregate unpaid
principal amount of the Term Loan made by the Lender to the undersigned pursuant
to Section 2.1.2 of the Agreement (as hereinafter defined), in immediately
available funds at the main office of Bank One, Oklahoma, N.A., Tulsa, Oklahoma,
as Agent, together with interest on the unpaid principal amount hereof at the
rates and on the dates set forth in the Agreement. The undersigned shall pay the
principal of and accrued and unpaid interest on the Term Loan in full on the
Term Loan Facility Maturity Date and prior to maturity shall make such payments,
including mandatory prepayments, as are required to be made under the terms of
Article II of the Agreement.
The Lender shall, and is hereby authorized to, record on the schedule
attached hereto, or to otherwise record in accordance with its usual practice,
the date and amount of the Term Loan and the date and amount of each principal
payment hereunder.
This Note is one of the Term Notes issued pursuant to, and is entitled
to the benefits of, the Credit Agreement dated as of November 30, 1999 (which,
as it may be amended or modified and in effect from time to time, is herein
called the "Agreement"), among the Borrower, the lenders party thereto,
including the Lender, and Bank One, Oklahoma, NA, as Agent, to which Agreement
reference is hereby made for a statement of the terms and conditions governing
this Note, including the terms and conditions under which this Note may be
prepaid or its maturity date accelerated. This Note is secured pursuant to the
Collateral Documents, all as more specifically described in the Agreement, and
reference is made thereto for a statement of the terms and provisions thereof.
Capitalized terms used herein and not otherwise defined herein are used with the
meanings attributed to them in the Agreement.
XETA CORPORATION,
an Oklahoma corporation
By: /s/ XXXXXX X. XXXXXX
----------------------------------
Print Name: Xxxxxx X. Xxxxxx
--------------------------
Title: VP Finance
-------------------------------
2
SCHEDULE OF LOANS AND PAYMENTS OF PRINCIPAL
TO
TERM NOTE OF XETA CORPORATION
DATED NOVEMBER 30, 1999
Principal Maturity Principal
Amount of of Interest Amount Unpaid
Date Loan Period Paid Balance
---- --------- ----------- --------- -------
