TERM NOTE
$1,505,882.35 New York, New York
May 21, 1997
FOR VALUE RECEIVED, the undersigned, XXXXX XXXX PET FOOD COMPANY, INC.,
a Minnesota corporation and successor by merger to Xxxxx Xxxx Pet Food
Acquisition Co. (the "Borrower"), hereby unconditionally promises to pay to
the order of SOUTHTRUST BANK OF ALABAMA, NATIONAL ASSOCIATION (the "Lender")
at the office of Credit Suisse First Boston, located at 00 Xxxxxxx Xxxxxx,
Xxx Xxxx, Xxx Xxxx 00000, in lawful money of the United States of America and
in immediately available funds, the principal amount of ONE MILLION FIVE
HUNDRED FIVE THOUSAND EIGHT HUNDRED EIGHTY-EIGHT DOLLARS AND THIRTY-FIVE
CENTS ($1,505,882.35), or, if less, the unpaid principal amount of the Term
Loan made by the Lender pursuant to subsection 2.1 of the Credit Agreement,
as hereinafter defined. The principal amount shall be paid in the amounts and
on the dates specified in subsection 2.3. The Borrower further agrees to pay
interest in like money at such office on the unpaid principal amount hereof
from time to time outstanding at the rates and on the dates specified in
subsections 5.2 and 5.4 of such Credit Agreement.
The holder of this Note is authorized to endorse on the schedules
annexed hereto and made a part hereof or on a continuation thereof which
shall be attached hereto and made a part hereof the date, Type and amount of
the Term Loan and the date and amount of each payment or prepayment of
principal with respect thereto, each conversion of all or a portion thereof
to another Type, each continuation of all or a portion thereof as the same
Type and, in the case of Eurodollar Loans, the length of each Interest Period
with respect thereto. Each such endorsement shall constitute prima facie
evidence of the accuracy of the information endorsed. The failure to make any
such endorsement shall not affect the obligations of the Borrower in respect
of such Term Loan.
This Note (a) is one of the Term Notes referred to in the Credit
Agreement dated as of May 21, 1997 (as amended, supplemented or otherwise
modified from time to time, the "Credit Agreement"), among Xxxxx Xxxx Pet
Food Acquisition Co., the Lender, the other banks and financial institutions
from time to time parties thereto, Credit Suisse First Boston, as
administrative agent, and The Chase Manhattan Bank, as Documentation Agent
(b) is subject to the provisions of the Credit Agreement and (c) is subject
to optional and mandatory prepayment in whole or in part as provided in the
Credit Agreement. This Note is secured and guaranteed as provided in the Loan
Documents. Reference is hereby made to the Loan Documents for a description
of the properties and assets in which a security interest has been granted,
the nature and extent of the security and the guarantees, the terms and
conditions upon which the security interests and each guarantee were granted
and the rights of the holder of this Note in respect thereof.
Upon the occurrence of any one or more of the Events of Default, all
amounts then remaining unpaid on this Note may 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.
Unless otherwise defined herein, terms defined in the Credit Agreement
and used herein shall have the meanings given to them in the Credit Agreement.
THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO THE
CONFLICTS OF LAW PRINCIPLES THEREOF.
XXXXX XXXX PET FOOD COMPANY, INC.
By: /s/ X. Xxxxxx Xxxxxxxx
----------------------------
Name: X. Xxxxxx Xxxxxxxx
Title: Vice President
Schedule A
to Term Note
------------
LOANS, CONVERSIONS AND REPAYMENTS OF ABR LOANS
-----------------------------------------------------------------------------------------------------------------------------------
Xxxxxx Xxxxxx of Amount of ABR Unpaid Principal
Amount of ABR Converted to Principal of ABR Loans Converted to Balance of ABR Notation
Date Loans ABR Loans Loans Repaid Eurodollar Loans Loans Made By
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Schedule B
to Term Note
------------
LOANS, CONTINUATIONS, CONVERSIONS AND REPAYMENTS OF EURODOLLAR LOANS
--------------------------------------------------------------------------------------------------------------------------------
Unpaid
Interest Period Amount of Amount of Principal
Amount Converted and Eurodollar Principal of Eurodollar Loans Balance of
Amount of to Eurodollar Rate with Eurodollar Converted to Eurodollar Notation
Date Eurodollar Loans Loans Respect Thereto Loans Repaid ABR Loans Loans Made By
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
