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EXHIBIT 10.15
NOTE
$2,000,000 June __, 1996
For value received, the undersigned, NEW WEST EYEWORKS, INC., a
Delaware corporation ("Borrower"), promises to pay to the order of U. S. BANK OF
WASHINGTON, NATIONAL ASSOCIATION ("U. S. Bank"), at its principal place of
business, 0000 Xxxxx Xxxxxx, Xxxxxxx, Xxxxxxxxxx 00000, or such other place or
places as the holder hereof may designate in writing, the principal sum of Two
Million and No/100 Dollars ($2,000,000) or so much thereof as advanced by U. S.
Bank in lawful, immediately available money of the United States of America, in
accordance with the terms and conditions of that certain credit agreement of
even date herewith by and between Borrower and U. S. Bank (together with all
supplements, exhibits, amendments and modifications thereto, the "Credit
Agreement"). Xxxxxxxx also promises to pay interest on the unpaid principal
balance hereof, commencing as of the first date of an advance hereunder, in like
money in accordance with the terms and conditions, and at the rate or rates
provided for in the Credit Agreement. All principal, interest, and other charges
are due and payable in full on May 31, 1997.
Borrower and all endorsers, sureties, and guarantors hereof jointly and
severally waive presentment for payment, demand, notice of nonpayment, notice of
protest, and protest of this Note, and all other notices in connection with the
delivery, acceptance, performance, default, dishonor, or enforcement of the
payment of this Note except such notices as are specifically required by this
Note or by the Credit Agreement, and they agree that the liability of each of
them shall be unconditional without regard to the liability of any other party
and shall not be in any manner affected by any indulgence, extension of time,
renewal, waiver, or modification granted or consented to by U. S. Bank. Borrower
and all endorsers, sureties, and guarantors hereof (1) consent to any and all
extensions of time, renewals, waivers, or modifications that may be granted by
U. S. Bank with respect to the payment or other provisions of this Note and the
Credit Agreement; (2) consent to the release of any property now or hereafter
securing this Note with or without substitution; and (3) agree that additional
makers, endorsers, guarantors, or sureties may become parties hereto without
notice to them and without affecting their liability hereunder.
This Note is the Note referred to in the Credit Agreement and as such
is entitled to all of the benefits and obligations specified in the Credit
Agreement, including but not limited to any Collateral and any conditions to
making advances hereunder. Terms defined in the Credit Agreement are used herein
with the same meanings. Reference is made to the
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Credit Agreement for provisions for the repayment of this Note and the
acceleration of the maturity hereof.
NEW WEST EYEWORKS, INC.
By /s/ Xxxxx X. Xxxx
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Title President & CEO
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