EXHIBIT 4.5
NOTE
$12,500,000 December 17, 1997
Chicago, Illinois
On the Termination Date (as defined in the Credit Agreement referred
to below), the undersigned, for value received, promises to pay to the order of
Xxxxx Fargo Bank, N.A. at the principal office of Bank of America National Trust
and Savings Association (the "AGENT"), in Chicago, Illinois, Twelve Million,
Five Hundred Thousand Dollars ($12,500,000) or, if less, the aggregate unpaid
amount of all Loans made by the payee to the undersigned pursuant to the Credit
Agreement (as shown in the records of the payee or, at the payee's option, on
the schedule attached hereto and any continuation thereof).
The undersigned further promises to pay interest on the unpaid
principal amount of each Loan evidenced hereby from the date of such Loan until
such Loan is paid in full, payable at the rate(s) and at the time(s) set forth
in the Credit Agreement. Payments of both principal and interest are to be made
in lawful money of the United States of America.
This Note evidences indebtedness incurred under, and is subject to
the terms and provisions of, the Credit Agreement dated as of December 17, 1997
(as amended or otherwise modified from time to time, the "CREDIT AGREEMENT"),
among the undersigned, certain financial institutions (including the payee) and
the Agent, to which Credit Agreement reference is hereby made for a statement of
the terms and provisions under which this Note may or must be paid prior to its
due date or may have its due date accelerated.
In addition to and not in limitation of the foregoing and the
provisions of the Credit Agreement, the undersigned further agrees, subject only
to any limitation imposed by applicable law, to pay all reasonable expenses,
including reasonable attorneys' fees and legal expenses, incurred by the holder
of this Note in endeavoring to collect any amounts payable hereunder which are
not paid when due, whether by acceleration or otherwise.
This Note is made under and governed by the laws of the State of
Illinois applicable to contracts made and to be performed entirely within such
State.
U S LIQUIDS INC.
By:____________________________
Name Printed:__________________
Title:_________________________
Schedule Attached to Note dated December 17, 1997 of U S LIQUIDS INC. payable to
the order of XXXXX FARGO BANK, N.A.
Amount of Amount Notation
Date Loan Maturity Date Repaid Made By
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