ACQUISITION NOTE
$3,388,235.30 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, on the Termination Date the principal amount of (a) THREE
MILLION THREE HUNDRED EIGHTY-EIGHT THOUSAND TWO HUNDRED THIRTY-FIVE DOLLARS AND
THIRTY CENTS ($3,388,235.30), or, if less, (b) the aggregate unpaid principal
amount of all Acquisition Loans made by the Lender to the Borrower pursuant to
subsection 3.1 of the Credit Agreement, as hereinafter defined. 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 each
Acquisition Loan made pursuant to the Credit Agreement and the date and amount
of each payment or prepayment of principal thereof, each continuation thereof,
each conversion of all or a portion thereof to another 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 Acquisition Loan.
This Note (a) is one of the Acquisition Loan 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 the 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
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Name: X. Xxxxxx Xxxxxxxx
Title: Vice President
Schedule A
to Acquisition Loan Note
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LOANS, CONVERSIONS AND REPAYMENTS OF ABR LOANS
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Amount Amount of ABR Loans
Amount of Converted to Amount of Principal of Converted to Unpaid Principal Balance
Date ABR Loans ABR Loans ABR Loans Repaid Eurodollar Loans of ABR Loans Notation Made By
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Schedule B
to Acquisition Loan Note
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LOANS, CONTINUATIONS, CONVERSIONS AND REPAYMENTS OF EURODOLLAR LOANS
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Amount of Amount of
Amount of Amount Converted Interest Period and Principal of Eurodollar Loans Unpaid Principal
Eurodollar to Eurodollar Eurodollar Rate with Eurodollar Converted to Balance of Eurodollar Notation
Date Loans Loans Respect Thereto Loans Repaid ABR Loans Loans Made By
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