DRAW NOTEDraw Note • November 3rd, 2020 • Covenant Logistics Group, Inc. • Trucking (no local)
FOR VALUE RECEIVED, COVENANT LOGISTICS GROUP, INC., a Nevada corporation (“CVLG”), and COVENANT TRANSPORT SOLUTIONS, LLC, a Nevada limited liability company (“Covenant”, and together with CVLG, hereinafter together called “Borrower”) promises and agrees to pay to the order of TBK BANK, SSB, having offices at 12700 Park Central Drive, Suite 1700, Dallas, TX 75251 (hereinafter referred to as “Lender”), or at such other place as Lender may from time to time designate, on that date which is one (1) year after the Draw Expiry Date (as defined below) (“Maturity Date”) the principal amount of FORTY FIVE MILLION DOLLARS ($45,000,000.00), or such lesser sum as Lender may loan and/or advance to or for the benefit of Borrower on or after the date hereof together with interest thereon in accordance with the terms hereof, payable in lawful money of the United States of America. The proceeds of the note shall be used only to finance Borrower’s indemnification obligations to Triumph Bancorp, Inc. and
