EXHIBIT 10.3 CONSUMER PORTFOLIO SERVICES, INC. Revolving Credit and Term Note ------------------------------ $16,666,666.50 Boston, Massachusetts April 30, 1998Revolving Credit and Term Note • May 15th, 1998 • Consumer Portfolio Services Inc • Short-term business credit institutions
This Note evidences a loan or loans under, and is subject to the provisions of, a certain Residual Interest in Securitizations Revolving Credit and Term Loan Agreement dated as of the date hereof, (as amended and/or extended from time to time, the "Loan Agreement") by and among the Company and the Lenders (including the original payee of this Note) named therein. The holder of this Note is entitled to the benefits of the Loan Agreement and to the benefits of the Security Documents and other Loan Documents referred to therein. Neither this reference to such Loan Agreement, Security Documents or other Loan Documents, nor any provisions thereof shall affect or impair the absolute and unconditional obligation of the Company to pay the principal of and interest on this Note as provided herein. All payments of principal of and interest on this Note shall be payable in immediately available funds at the address of the Agent set forth in the Loan Agreement. This Note is subject to prepayment i
