NOTEPromissory Note • December 27th, 2006 • KMG America CORP • Life insurance
This Note is issued to evidence the Loans made by the Lender pursuant to the Credit Agreement. All of the terms, conditions and covenants of the Credit Agreement are expressly made a part of this Note by reference in the same manner and with the same effect as if set forth herein at length, and any holder of this Note is entitled to the benefits of and remedies provided in the Credit Agreement and the other Credit Documents. Reference is made to the Credit Agreement for provisions relating to the interest rate, maturity, payment, prepayment and acceleration of this Note.
CREDIT AGREEMENT among KMG AMERICA CORPORATION, as Borrower and WACHOVIA BANK, NATIONAL ASSOCIATION, as Lender $15,000,000 Revolving Credit Facility Dated as of December 21, 2006Credit Agreement • December 27th, 2006 • KMG America CORP • Life insurance • North Carolina
THIS CREDIT AGREEMENT, dated as of December 21, 2006, is made among KMG AMERICA CORPORATION, a company incorporated under the laws of the Commonwealth of Virginia (“Borrower”), and WACHOVIA BANK, NATIONAL ASSOCIATION (“Lender”).
NOTE SETTLEMENT AGREEMENTNote Settlement Agreement • December 27th, 2006 • KMG America CORP • Life insurance • North Carolina
This Note Settlement Agreement (this “Settlement Agreement”), dated as of December 21, 2006, is by and among KMG AMERICA CORPORATION, a Virginia corporation (“Maker”), THE SPRINGS COMPANY, a South Carolina corporation (“Shareholders’ Representative”), in its capacity as representative of the Sellers (“Sellers”) as defined in the Agreement (as defined below), Stanley D. Johnson (“SDJ”), SDJ Partners, LP, a Georgia limited partnership (“SDJP”), and Elliott S. Close (“Close”).
