Exhibit 4.16
NOTE
New York, New York
$53,000,000.00 December 22, 1997
FOR VALUE RECEIVED, THE INTERLAKE CORPORATION, a Delaware corporation (the
"Borrower"), hereby promises to pay to the order of THE CHASE MANHATTAN BANK
(the "Bank"), in lawful money of the United States of America in immediately
available funds, at the office of The Chase Manhattan Bank (the "
Administrative Agent") located at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 on
the Maturity Date (as defined in the Second Amended and Restated Credit
Agreement referred to below) the principal sum of FIFTY-THREE MILLION DOLLARS
or, if less, the unpaid principal amount of all Loans (as defined in the
Second Amended and Restated Credit Agreement) made by the Bank pursuant to the
Second Amended and Restated Credit Agreement.
The Borrower promises also to pay interest on the unpaid principal amount
of each Loan in like money at said office from the date such Loan is made until
paid at the rates and at the times provided in Section 1.08 of the Second
Amended and Restated Credit Agreement.
This Note is one of the Notes referred to in the Second Amended and
Restated Credit Agreement, dated as of September 27, 1989 and amended and
restated as of December 22, 1997, among the Borrower, the financial
institutions named therein (including the Bank), the Administrative Agent and
the Document Agent (as so amended and restated and as the same may hereafter
be amended, modified or supplemented from time to time, the "Second Amended
and Restated Credit Agreement") and is entitled to the benefits thereof. This
Note is issued in replacement of the Notes as defined in and issued pursuant
to the Original Credit Agreement (as defined in the Second Amended and Restated
Credit Agreement). This Note is guaranteed pursuant to the Subsidiary
Guaranties and is secured by certain Security Documents (as defined in the
Second Amended and Restated Credit Agreement). As provided in the Second
Amended and Restated Credit Agreement, this Note is subject to voluntary and
mandatory prepayment prior to the Maturity Date, in whole or in part.
In case an Event of Default (as defined in the Second Amended and Restated
Credit Agreement) shall occur and be continuing, the principal of and accrued
interest on this Note may be declared to be due and payable in the manner and
with the effect provided in the Second Amended and Restated Credit Agreement.
The Borrower hereby waives presentment, demand, protest or notice of any
kind in connection with this Note.
THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE
LAWS OF THE STATE OF NEW YORK.
THE INTERLAKE CORPORATION
By:
Name:
Title:
