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SECOND AMENDED AND RESTATED TERM LOAN A NOTE
$6,000,000 July 11, 1997
FOR VALUE RECEIVED, the undersigned CONNECTIVITY PRODUCTS INCORPORATED,
a Delaware corporation (the "Borrower"), hereby promises to pay to the order of
NBD Bank, a Michigan banking corporation (the "Bank") at the Bank's head office
at 000 Xxxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx 00000:
(a) prior to or on May 31, 2002 the principal amount of SIX
MILLION AND NO/100 DOLLARS ($6,000,000) or, if less, the aggregate
unpaid principal amount of the Term Loan A advanced by the Bank to the
Borrower pursuant to the Amended and Restated Revolving Credit and Term
Loan Agreement, dated as of May 31, 1996 (as amended and in effect from
time to time, the "Credit Agreement"), among the Borrower, the Bank and
other parties thereto;
(b) the principal outstanding hereunder from time to time at
the times provided in the Credit Agreement; and
(c) interest on the principal balance hereof from time to time
outstanding from the Closing Date under the Credit Agreement through
and including the maturity date hereof at the times and at the rate
provided in the Credit Agreement.
This Second Amended and Restated Term Loan A Note ("this Note") is an
amendment and restatement of the Amended and Restated Term Loan A Note, dated as
of August 27, 1996 (the Restated Note") which is an amendment and restatement of
the Term Loan A Note, dated as of May 31, 1996, in each case issued by the
Borrower to the Bank. This Note is issued in substitution for, and not in
payment of, the Restated Note.
This Note is one of the Term Loan A Notes issued pursuant to
Section 4.3.1 of the Credit Agreement and evidences borrowings under, and has
been issued by the Borrower in accordance with the terms of, the Credit
Agreement. The Bank and any holder hereof is entitled to the benefits of the
Credit Agreement, the Security Documents and the other Loan Documents, and may
enforce the agreements of the Borrower contained therein, and any holder hereof
may exercise the respective remedies provided for thereby or otherwise available
in respect thereof, all in accordance with the respective terms thereof. All
capitalized terms used in this Note and not otherwise defined herein shall have
the same meanings herein as in the Credit Agreement.
The Borrower irrevocably authorizes the Bank to make or cause to be
made, at or about the time of the Drawdown Date of the Term Loan A or at the
time of receipt of any payment of principal of this Note, an appropriate
notation on the grid attached to this Note, or the
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continuation of such grid, or any other similar record, including computer
records, reflecting the making of such Term Loan A or (as the case may be) the
receipt of such payment. The outstanding amount of the Term Loan A set forth on
the grid attached to this Note, or the continuation of such grid, or any other
similar record, including computer records, maintained by the Bank with respect
to the Term Loan A shall be prima facie evidence of the principal amount thereof
owing and unpaid to the Bank, but the failure to record, or any error in so
recording, any such amount on any such grid, continuation or other record shall
not limit or otherwise affect the obligation of the Borrower hereunder or under
the Credit Agreement to make payments of principal of and interest on this Note
when due.
The Borrower has the right in certain circumstances and the obligation
under certain other circumstances to prepay the whole or part of the principal
of this Note on the terms and conditions specified in the Credit Agreement.
If any one or more of the Events of Default shall occur, the entire
unpaid principal amount of this Note and all of the unpaid interest accrued
thereon may become or be declared due and payable in the manner and with the
effect provided in the Credit Agreement.
No delay or omission on the part of the Bank or any holder hereof in
exercising any right hereunder shall operate as a waiver of such right or of any
other rights of the Bank or such holder, nor shall any delay, omission or waiver
on any one occasion be deemed a bar or waiver of the same or any other right on
any further occasion.
The Borrower and every endorser and guarantor of this Note or the
obligation represented hereby waives presentment, demand, notice, protest and
all other demands and notices in connection with the delivery, acceptance,
performance, default or enforcement of this Note, and assents to any extension
or postponement of the time of payment or any other indulgence, to any
substitution, exchange or release of collateral and to the addition or release
of any other party or person primarily or secondarily liable.
THIS NOTE AND THE OBLIGATIONS OF THE BORROWER HEREUNDER SHALL FOR ALL
PURPOSES BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE
COMMONWEALTH OF MASSACHUSETTS (EXCLUDING THE LAWS APPLICABLE TO CONFLICTS OR
CHOICE OF LAW). THE BORROWER AGREES THAT ANY SUIT FOR THE ENFORCEMENT OF THIS
NOTE MAY BE BROUGHT IN THE COURTS OF THE COMMONWEALTH OF MASSACHUSETTS OR ANY
FEDERAL COURT SITTING THEREIN AND THE CONSENT TO THE NONEXCLUSIVE JURISDICTION
OF SUCH COURT AND THE SERVICE OF PROCESS IN ANY SUCH SUIT BEING MADE UPON THE
BORROWER BY MAIL AT THE ADDRESS SPECIFIED IN SECTION 21 OF THE CREDIT AGREEMENT.
THE BORROWER HEREBY WAIVES ANY OBJECTION THAT IT MAY NOW OR
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HEREAFTER HAVE TO THE VENUE OF ANY SUCH SUIT OR ANY SUCH COURT OR THAT SUCH SUIT
IS BROUGHT IN AN INCONVENIENT COURT.
This Note shall be deemed to take effect as a sealed instrument under
the laws of the Commonwealth of Massachusetts.
IN WITNESS WHEREOF, the undersigned has caused this Note to be signed
in its corporate name and its corporate seal to be impressed thereon by its duly
authorized officer as of the day and year first above written.
[Corporate Seal]
CONNECTIVITY PRODUCTS
INCORPORATED
By: /s/ Xxxxx X. Xxxxxxxxxx
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Name: Xxxxx X. Xxxxxxxxxx
Title: President
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Amount Amount of Balance of
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of Term Loan Principal Paid Principal Notation
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Date A or Prepaid Unpaid Made By:
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