Exhibit 4.16
REVOLVING CREDIT NOTE
$15,000,000.00 Pittsburgh, Pennsylvania
March 13, 1997
FOR VALUE RECEIVED, the undersigned, XXXXX & XXXXX COMPANY, a Delaware
corporation (the "Maker"), promises to pay to the order of PNC BANK, NATIONAL
ASSOCIATION, ("Lender") in immediately available funds at the Pittsburgh,
Pennsylvania office of Lender at One PNC Plaza, 000 Xxxxx Xxxxxx, 00xx Xxxxx,
Xxxxxxxxxx, Xxxxxxxxxxxx 00000-0000, or at such other location as the holder
hereof may designate from time to time, the lesser of (i) the principal sum
of Fifteen Million Dollars ($15,000,000.00) or (ii) the aggregate unpaid
principal amount of all loans made by Lender to Maker pursuant to Section 2.1
of the Credit Agreement dated as of March 13, 1997, among Lender and Maker
(the "Credit Agreement"), on March 13, 2001, together with interest from the
date hereof on the unpaid balance of the principal hereof (i) until maturity,
at the rate set forth in Section 4.1 of the Credit Agreement, as selected by
the Maker in accordance with the terms of the Credit Agreement, payable in
accordance with Section 5 of the Credit Agreement, and at maturity, and (ii)
after maturity, whether by declaration, acceleration or otherwise, until paid
at the rate set forth in Section 4.3 of the Credit Agreement, payable upon
demand. The aforesaid interest rates shall continue to apply whether or not
judgment shall be entered on this Note.
If any payment of principal or interest on this Note shall become due on
a day other than a Business Day, such payment shall be made on the next
succeeding Business Day and such extension of time may in such case be
included in computing interest in connection with such payment.
This Note is the Note referred to in and issued pursuant to the Credit
Agreement, and capitalized terms not otherwise defined herein shall have the
meanings given to them in the Credit Agreement. The Credit Agreement
contains provisions, among other things, for the acceleration of the stated
maturity of this Note upon the happening of certain stated events recited
therein and also for late payment charges and prepayments on account of the
principal hereof prior to maturity as provided therein.
The Maker hereby waives presentment, demand, protest or notice of any
kind in connection with this Note.
This Note shall bind the Maker and the successors and assigns of the
Maker, and the benefits hereof shall inure to the benefit of Lender and its
successors and assigns. All references herein to "Maker" shall be deemed to
apply to the Maker and to the successors and assigns of Maker, and all
references herein to "Lender" shall be deemed to apply to Lender and its
successors and assigns.
[SIGNATURE PAGE 1 OF 1 TO REVOLVING CREDIT NOTE]
IN WITNESS WHEREOF, Maker, intending to be legally bound, has executed
this Note on the day and year first above written with the intention that
this Note shall constitute a sealed instrument.
ATTEST: XXXXX & XXXXX COMPANY
/s/ Xxxxxx X. Xxxxxx By: /s/ Xxxxx Xxxxxx
------------------------------- -----------------------------------
Senior Vice President and Xxxxx Xxxxxx
Corporate Secretary Senior Vice President and Chief
Financial Officer
[Corporate Seal]
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