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EXHIBIT 10.6
REVOLVING NOTE
$2,500,000 June 5, 0000
Xx. Xxxx, Xxxxxxxxx
FOR VALUE RECEIVED, CHORUS CORPORATION, CHORUS INTERNATIONAL
CORPORATION AND EPI EUROPE, LTD., each a Minnesota corporation, hereby jointly
and severally promise to pay to the order of U.S. BANK NATIONAL ASSOCIATION (the
"Lender") at its main office in St. Xxxx, Minnesota, in lawful money of the
United States of America in immediately available funds on the Revolving
Maturity Date (as such term and each other capitalized term used herein are
defined in the Credit Agreement hereinafter referred to) the principal amount of
TWO MILLION FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($2,500,000) or, if less,
the aggregate unpaid principal amount of all Advances made by the Lender under
the Credit Agreement, and to pay interest (computed on the basis of actual days
elapsed and a year of 360 days) in like funds on the unpaid principal amount
hereof from time to time outstanding at the rates and times set forth in the
Credit Agreement.
This note is the Revolving Note referred to in the Credit Agreement
dated as of even date herewith (as the same may be hereafter from time to time
amended, restated or modified, the "Credit Agreement") between the undersigned
and the Lender. This note is secured, it is subject to certain permissive and
mandatory prepayments and its maturity is subject to acceleration, in each case
upon the terms provided in said Credit Agreement.
In the event of default hereunder, the undersigned agrees to pay all
costs and expenses of collection, including reasonable attorneys' fees. The
undersigned waives demand, presentment, notice of nonpayment, protest, notice of
protest and notice of dishonor.
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THE VALIDITY, CONSTRUCTION AND ENFORCEABILITY OF THIS NOTE SHALL BE
GOVERNED BY THE INTERNAL LAWS OF THE STATE OF MINNESOTA WITHOUT GIVING EFFECT TO
THE CONFLICT OF LAWS PRINCIPLES THERETO, BUT GIVING EFFECT TO FEDERAL LAWS OF
THE UNITED STATES APPLICABLE TO NATIONAL BANKS.
CHORUS CORPORATION
By /s/ Xxxxx Xxxxxxx
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Title CFO
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CHORUS INTERNATIONAL CORPORATION
By /s/ Xxxxx Xxxxxxx
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Title CFO
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EIP EUROPE, LTD.
By /s/ Xxxxx Xxxxxxx
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Title CFO
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