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EXHIBIT 10.6
LINE LOAN NOTE
$3,850,000 New York, New York
April 3, 1997
FOR VALUE RECEIVED, the undersigned, UNIDIGITAL ELEMENTS (NY),
INC., a New York corporation, UNIDIGITAL/CARDINAL CORPORATION, a Delaware
corporation, UNIDIGITAL ELEMENTS (SF), INC., a Delaware corporation, and
UNIDIGITAL/XXXXX CORPORATION, a Massachusetts corporation (the "Borrowers"),
hereby jointly and severally, unconditionally promise to pay to the order of THE
CHASE MANHATTAN BANK (the "Lender"), at its office at 000 Xxxxx Xxxxxx, Xxx
Xxxx, Xxx Xxxx 10020 on January 31, 1998 in lawful money of the United States of
America and in immediately available funds, the principal amount of (a) THREE
MILLION EIGHT HUNDRED FIFTY THOUSAND DOLLARS ($3,850,000), or, if less, (b) the
aggregate unpaid principal amount of all Line Loans made by the Lender pursuant
to the Credit Agreement (referred to below). The Borrowers further agree,
jointly and severally, to pay interest on the unpaid principal amount
outstanding hereunder from time to time from the date hereof in like money at
such office at the rates and on the dates specified in the Credit Agreement.
The holder of this Note is authorized to record on the
schedule annexed hereto or on a continuation thereof the date, Type and amount
of each Line Loan made pursuant to the Credit Agreement, each continuation
thereof, each conversion of all or a portion thereof to another Type, the date
and amount of each payment or repayment of principal thereof and, in the case of
Eurodollar Loans, the length of each Interest Period with respect thereto (which
recordation shall, in accordance with Section 2.08(c) of the Credit Agreement,
constitute prima facie evidence of the accuracy of the information recorded);
provided, however, that the failure to make any such recordation shall not
affect the obligations of the Borrowers in respect of such Line Loans.
This Note is the Line Loan Note referred to in the Credit
Agreement dated as of April 3, 1997 (the "Credit Agreement"), among the
Borrowers and the Lender, and is secured as provided therein and in the Security
Documents and is subject to optional and mandatory prepayment as set forth in
the Credit Agreement.
Upon the occurrence of any one or more of the Events of
Default specified in the Credit Agreement, all amounts then remaining unpaid on
this Note shall become, or may be declared to be, immediately due and payable,
all as provided in the Credit Agreement.
All parties now and hereafter liable with respect to this
Note, whether maker, principal, surety, guarantor, endorser or otherwise, hereby
waive presentment, demand, protest and all other notices of any kind.
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Terms defined in the Credit Agreement are used herein with
their defined meanings unless otherwise defined herein. This Note shall be
governed by, and construed and interpreted in accordance with, the laws of the
State of New York.
UNIDIGITAL ELEMENTS (NY), INC.
By:___________________________________
Name:
Title:
UNIDIGITAL/CARDINAL CORPORATION
By:___________________________________
Name:
Title:
UNIDIGITAL ELEMENTS (SF), INC.
By:___________________________________
Name:
Title:
UNIDIGITAL/XXXXX CORPORATION
By:___________________________________
Name:
Title:
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SCHEDULE 1
TO LINE LOAN NOTE
LOANS, CONVERSIONS AND PAYMENTS OF ABR LOANS
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Amount of Amount of Unpaid
ABR Loans Eurodollars Loans Principal
Amount of Amount of Converted to Converted to Balance of Notation
Date ABR Loans Principal Repaid Eurodollar Loans ABR Loans ABR Loans Made By
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SCHEDULE 2
TO LINE LOAN NOTE
LOANS, CONVERSIONS AND PAYMENTS OF EURODOLLAR LOANS
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Amount of Amount of Unpaid
Amount of Amount of Eurodollar Loan ABR Loans Principal
Eurodollar Principal Converted to Converted to Balance of Notation
Date Loans Repaid ABR Loan Eurodollar Loans Eurodollar Loans Made By
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