EXHIBIT 4.4
REVOLVER NOTE
Atlanta, Georgia
$12,750,000 June ___, 1997
FOR VALUE RECEIVED, the undersigned ("BORROWER"), promises to pay
to the order of FIRST UNION COMMERCIAL CORPORATION, a North Carolina
corporation ("LENDER"; Lender, together with any other holder hereof,
sometimes referred to herein as the "HOLDER"), the principal sum of Twelve
Million Seven Hundred Fifty Thousand Dollars ($12,750,000), or such lesser
amount as may be outstanding under Xxxxxx's "Revolver Facility" (as that
term is defined in the "Loan Agreement" hereinafter defined) established
for Xxxxxxxx's use pursuant to the Loan Agreement, in lawful money of the
United States of America, at such time or times as are provided in the Loan
Agreement with respect to Revolver Loans, together with accrued interest on
the unpaid principal balance hereof from the date hereof until the payment
in full of this Note at the then applicable interest rate specified in the
Loan Agreement with respect to Revolver Loans, payable at the times and in
the manner provided in the Loan Agreement.
This Note is a "Revolver Note" issued to evidence the Revolver
Loan made available by Lender to Borrower pursuant to the provisions of the
Loan and Security Agreement, dated as of June ___, 1997 (herein, as at any
time amended, modified or supplemented, called the "LOAN AGREEMENT";
capitalized terms used herein and not defined herein have the meanings
assigned to them in the Loan Agreement), among SETECH, Inc., its
subsidiaries (including Borrower) and Lender, to which reference is hereby
made for a statement of the terms, conditions and covenants under which the
Loans evidenced hereby were made and are to be repaid, including, but not
limited to, those related to voluntary or mandatory prepayment of the
indebtedness represented hereby and to the maturity of the indebtedness
represented hereby upon the termination of the Loan Agreement. Payment of
this Note is secured by the Collateral and Holder is entitled to the
benefit of all of the Security Documents.
THIS NOTE SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF GEORGIA,
WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES.
Borrower hereby waives presentment, demand for payment, protest
and notice of protest, notice of dishonor and all other notices in
connection with this Note.
WITNESS THE DUE EXECUTION HEREOF BY AN AUTHORIZED OFFICER OF THE
UNDERSIGNED AS OF THE DATE FIRST ABOVE WRITTEN.
TITAN SERVICES, INC.
By:_________________________________
Xxxxxx X. Xxxxxxxx, Chief Executive
Officer
Attest:_______________________________
Xxxxx X. Xxxxxxx, Secretary
