EXHIBIT 10.43
REVOLVING NOTE $540,000.00
January 31, 1997
FOR VALUE RECEIVED, the undersigned, Xxxxxxx Xxxxx, Inc., a California
corporation (the "Maker"), hereby promises to pay to the order of Hasco
International, Inc., a Missouri corporation (the "Lender"), the principal sum of
Five Hundred and Forty Thousand Dollars and No Cents ($540,000.00), or, if less,
the aggregate unpaid principal amount of all advances made to the Maker by the
Lender pursuant to Section 2.1 of the Loan Agreement, dated as of January 31,
1997, as the same may be amended, modified, restated or supplemented from time
to time (the "Loan Agreement"), among the Maker, the Lender and Styles On Video,
Inc., in lawful money of the United States of America in immediately available
funds, at such times as specified in the Loan Agreement. The Maker also agrees
to pay interest on the principal amount hereof from time to time outstanding, in
lawful money of the United States of America in immediately available funds, at
a rate or rates per annum and payable on such dates and for such periods as
determined pursuant to the terms of the Loan Agreement.
The Maker promises to pay interest, on demand, on any overdue
principal and, to the extent permitted by law, overdue interest from their due
dates at a rate or rates determined as set forth in the Loan Agreement.
The Maker hereby waives diligence, presentment, demand, protest and
notice of any kind whatsoever, other than as expressly required by the Loan
Agreement. The nonexercise by the holder of any of its rights hereunder in any
particular instance shall not constitute a waiver thereof in that or any
subsequent instance.
The date, amount and all payments and prepayments of the principal
hereof and interest hereon and the respective dates thereof shall be recorded by
such holder in its internal records and, prior to any transfer of this Note,
endorsed by the holder on the schedule attached hereto or any continuation
thereof; provided, however, that the failure of the holder hereof to make such a
notation or any error in such a notation shall not in any manner affect the
obligation of the Maker to make payments of principal and interest in accordance
with the terms of this Note and the Loan Agreement.
This Note is secured by and entitled to the benefits of the Security
Agreement (as defined in the Loan Agreement).
XXXXXXX XXXXX, INC.
By: /s/ X. Xxxxxx Xxxxxxx
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Name: X. Xxxxxx Xxxxxxx
Title: Chairman & C.E.O
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Loans and Payments
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Unpaid
Payments of Principal Name of
Amount and Principal or Balance of Person Making
Date Date of Loan Interest Note Notation
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