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REVOLVING NOTE
U.S. $1,000,000 Cincinnati, Ohio
February 20, 1996
FOR VALUE RECEIVED, NOBLE BROADCAST HOLDINGS, INC., a Delaware
corporation (the "Borrower"), hereby promises to pay to the order of BROADCAST
FINANCE, INC., an Ohio corporation (the "Lender"), in lawful money of the United
States of America in immediately available funds, at the Lender's Payment Office
(as defined in the Agreement referred to below) initially located at 0000 XXX
Xxxxxx, 000 Xxxx Xxxxx Xxxxxx, Xxxxxxxxxx, Xxxx 00000 on the Final Maturity Date
(as defined in the Agreement) the principal sum of ONE MILLION DOLLARS or, if
less, the unpaid principal amount of all Revolving Loans (as defined in the
Agreement) made by the Lender pursuant to the Agreement, payable at such times
and in such amounts as are specified in the Agreement.
The Borrower promises also to pay interest on the unpaid principal
amount of each Revolving Loan made by the Lender in like money at said office
from the date hereof until paid at the rates and at the times provided in the
Agreement.
This Note is the Revolving Note referred to in the Credit Agreement, of
even date, among the Borrower, Noble Broadcast Group, Inc. and the Lender (as
amended, modified or supplemented from time to time, the "Agreement") and is
entitled to the benefits thereof and of the other Credit Documents (as defined
in the Agreement). This Note is secured by the Security Documents (as defined in
the Agreement) and is entitled to the benefits of the Guaranties (as defined in
the Agreement). As provided in the Agreement, this Note is subject to voluntary
prepayment and mandatory repayment prior to the Final Maturity Date, in whole or
in part.
In case an Event of Default (as defined in the Agreement) shall occur
and be continuing, the principal of and accrued interest on this Note may be
declared to be due and payable in the manner and with the effect provided in the
Agreement.
The Borrower hereby waives presentment, demand, protest or notice of
any kind in connection with this Note.
THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE
LAW OF THE STATE OF NEW YORK.
NOBLE BROADCAST HOLDINGS, INC.
By: ________________________________
Title:
