EXHIBIT 10(n)
REVOLVING CREDIT NOTE
New Brunswick, New Jersey
$13,750,000 October 31, 1995
FOR VALUE RECEIVED, the undersigned, GUEST SUPPLY, INC., a New Jersey
corporation, GUEST PACKAGING, INC., a New Jersey corporation, and XXXXXXXXXXXX-
XXXX CO., a Delaware corporation, (collectively, the "Borrower"), hereby jointly
and severally, unconditionally promise to pay to the order of PNC Bank, National
Association ("PNC") at the Payment Office, in lawful money of the United States
of America and in immediately available funds, the principal amount of THIRTEEN
MILLION SEVEN HUNDRED FIFTY THOUSAND AND 00/100 ($13,750,000) DOLLARS, or, if
less, the aggregate unpaid principal amount of all Revolving Credit Loans
(including, without limitation, Capex Loans) made by PNC to the Borrower
pursuant to Section 2.1 of the Credit Agreement on the dates and in the amounts
specified in the Credit Agreement. The Borrower further agrees to pay interest
on the unpaid principal amount outstanding hereunder from time to time from and
including the date hereof in like money at such office at the rates and on the
dates specified in the Credit Agreement.
The holder of this Note is authorized to endorse on the schedule annexed
hereto and made a part hereof or on a continuation thereof which shall be
attached hereto and made a part hereof (the "Grid") the date, Type and amount of
each Revolving Credit Loan made pursuant to the Credit Agreement, each
continuation thereof, each conversion of all or a portion thereof to another
Type, the date and amount of each payment or prepayment of principal thereof
and, in the case of Eurodollar Loans, the length of each Interest Period with
respect thereto, which endorsement shall constitute rebuttable presumptive
evidence of the accuracy of the information endorsed; provided, however, that
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the failure to make any such endorsement shall not affect the obligations of the
Borrower in respect of such Revolving Credit Loan.
This Note is one of the Revolving Credit Notes referred to in the Revolving
Credit and Term Loan Agreement dated the date hereof among the Borrower, PNC,
First Fidelity Bank, N.A., as Lenders, and PNC, as Agent (as the same may
hereafter be amended, modified or supplemented from time to time, the "Credit
Agreement") is entitled to the benefits thereof, is secured as
provided therein and is subject to optional and mandatory prepayment as set
forth therein.
Upon the occurrence and during the continuance of any one or more of the
Events of Default specified in the Credit Agreement, all amounts then remaining
unpaid on this Note shall become, or may be declared to be, immediately due and
payable, all as provided therein.
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.
Terms defined in the Credit Agreement are used herein with their defined
meanings unless otherwise defined herein. This Note shall be governed by, and
construed and interpreted in accordance with, the laws of the State of New
Jersey.
GUEST SUPPLY, INC.
By:____________________________
Name:
Title:
GUEST PACKAGING, INC.
By:____________________________
Name:
Title:
XXXXXXXXXXXX-XXXX CO.
By:____________________________
Name:
Title:
Schedule 1
To Revolving Credit Note
dated October 31, 1995 made by
Guest Supply, Inc., Guest Packaging, Inc. and
Xxxxxxxxxxxx-Xxxx Co., as joint and several
obligors to PNC Bank, National Association
Loans, Conversions and Payments of Loans
Amount of Unpaid
Amount of Principal Interest Interest Principal Notation
Date Loans Repaid Rate Period Balance of Loans Made By
