EXHIBIT 10.4.8
AMENDED AND RESTATED REVOLVING CREDIT NOTE
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$2,000,000.00 Boston, Massachusetts
August 29, 1997
FOR VALUE RECEIVED, the undersigned, BITSTREAM INC., a Delaware
corporation (the "Borrower") promises to pay to BANKBOSTON, N.A., a national
banking association (the "Bank") the principal amount of Two Million Dollars
($2,000,000.00) or such lesser principal amount as shall represent the unpaid
principal balance of all revolving credit loans made by the Bank to the Borrower
pursuant to the Credit Agreement (hereinafter defined) and noted on the records
of the Bank, such payment to be made as hereinafter provided, together with
interest (computed on the basis of the actual number of days elapsed over a
360-day year) on the unpaid principal amount hereof until paid in full.
The entire unpaid principal (not at the time overdue) of this Note
shall bear interest at the rate or rates from time to time in effect under the
Credit Agreement. Accrued interest on the unpaid principal under this Note shall
be payable on the dates specified in the Credit Agreement.
In no event shall the aggregate outstanding principal amount of the
revolving credit loans at any time exceed the Maximum Available Revolving Credit
Funds (as defined in the Credit Agreement), as the amount of Maximum Available
Revolving Credit Funds is reduced from time to time pursuant to the terms hereof
or pursuant to the terms of the Credit Agreement. Accordingly, upon any such
reduction in the Maximum Available Revolving Credit Funds, the Borrower agrees
to repay so much of the revolving credit loans as may be necessary so that the
aggregate outstanding principal amount of the revolving credit loans will not
exceed the Maximum Available Revolving Credit Funds, as so reduced. On the
earlier of (a) July 15, 1998, the date of the final maturity of this Note, or
(b) upon demand of the Bank, there shall become absolutely due and payable by
the Borrower hereunder, and the Borrower hereby promises to pay to the holder
hereof, the outstanding principal balance of this Note plus all accrued but
unpaid interest hereon and all (if any) other amounts payable on or in respect
of this Note or the indebtedness evidenced hereby.
All payments under this Note shall be made to the Bank at 000 Xxxxxxx
Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000 (or at such other place as the Bank may
designate from time to time
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in writing) in lawful money of the United States of America in immediately
available funds. The Borrower may prepay this Note in whole or in part at any
time without premium or penalty. Amounts so paid and other amounts may be
borrowed and reborrowed by the Borrower hereunder from time to time as provided
in the Credit Agreement.
This Note is issued pursuant to, is entitled to the benefits of, and is
subject to the provisions of a certain Credit Agreement dated as of July 14,
1995, as amended by a certain First Amendment to Credit Agreement dated August
29, 1997 by and between the Borrower and the Bank (herein, as the same may from
time to time be further amended or extended, referred to as the "Credit
Agreement"). Neither this reference to the Credit Agreement nor any provision
thereof shall affect or impair the absolute and unconditional obligation of the
Borrower to pay the principal of and interest on this Note as herein provided.
Upon an Event of Default, as defined in the Credit Agreement, the
aggregate unpaid balance of principal plus accrued interest may become or may be
declared due and payable in the manner and with the effect provided in the
Credit Agreement.
The Borrower hereby waives presentment, demand, notice of dishonor,
protest and all demands and notices in connection with the delivery, acceptance,
performance and enforcement of this Note and assents to any extension or
postponement of the time of payment or any other indulgence without notice.
This Note is governed by and construed in accordance with the laws of
the Commonwealth of Massachusetts and is executed as a sealed instrument as of
the date first above written.
WITNESS: BITSTREAM INC.
By: /s/ Xxxx Xxxxxxx
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Name: Xxxx Xxxxxxx
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Title: V.P. Engineering
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