TERM NOTE
$1,505,882.35 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
BANKBOSTON, N.A. (the "Lender") at the office of Credit Suisse First Boston,
located at 00 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, xx xxxxxx money of the
United States of America and in immediately available funds, the principal
amount of ONE MILLION FIVE HUNDRED FIVE THOUSAND EIGHT HUNDRED EIGHTY-TWO
DOLLARS AND THIRTY-FIVE CENTS ($1,505,882.35), or, if less, the unpaid principal
amount of the Term Loan made by the Lender pursuant to subsection 2.1 of the
Credit Agreement, as hereinafter defined. The principal amount shall be paid in
the amounts and on the dates specified in subsection 2.3. 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 the Term
Loan and the date and amount of each payment or prepayment of principal with
respect thereto, each conversion of all or a portion thereof to another Type,
each continuation of all or a portion thereof as the same 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 Term Loan.
This Note (a) is one of the Term 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 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 Term Note
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LOANS, CONVERSIONS AND REPAYMENTS OF ABR LOANS
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Xxxxxx Xxxxxx of Amount of ABR Unpaid Principal
Amount of ABR Converted to Principal of ABR Loans Converted to Balance of ABR Notation
Date Loans ABR Loans Loans Repaid Eurodollar Loans Loans Made By
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Schedule B
to Term Note
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LOANS, CONTINUATIONS, CONVERSIONS AND REPAYMENTS OF EURODOLLAR LOANS
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Unpaid
Interest Period Amount of Amount of Principal
Amount Converted and Eurodollar Principal of Eurodollar Loans Balance of
Amount of to Eurodollar Rate with Eurodollar Converted to Eurodollar Notation
Date Eurodollar Loans Loans Respect Thereto Loans Repaid ABR Loans Loans Made By
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