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HomeMy WebLinkAbout0919 . ~ • ~ i j l • ~ . i ~ ' ~ TERM LOAN NOTE ~4,636,000.00 . Dated: March 30. 1984 . FOR VALUE RECEIVED, the undersigned SOUTHERN EAGLE DISTRIBUTING, INC., a Missouri corporation (the "Borrower"), HEREBY PROMISES TO PAY to the order of MERCANTILE TRUST COMPANY ~ NATIONAL ASSOCIATION (the "Bank") the principal sum of Four Million Six Hundred Thirty-Six Thousand Dollars (~4.636,000.00) in eleven (11) equal, consecutive semi-annual installments of Two Hundred Thirty One Thousand Eight Hundred Dollars ($231,800.00) on each Cost of Funds Rate Interest Payment Date commencing after rhe Interest Only Period and ending on Septem- ber 30, 1991, with a final payment of the entire outstanding principal balance on March 31. 1992; together with interest on any and al~ principal amounts remaininq unpaid hereunde: :rom time to time outstanding from the date hereof until said prin- cipal amounts become due, payable on each Cost of Funds Rate Interest Payment Date at the applicable Cost of Funds Rate. i ' Capitalized terms used herein without definition shall ~ have the meanings assiqned thereto in that certain Loan Agree- ~ ; ment of even date herewith by and between the Borrower and the i Bank. [ ~ ` Any amount of principal hereof which is not paid when c due whether at stated maturity, by acceleration or otherwise, shall bear interest from the day when due until said principal amount is paid in full, payable on demand, at a fluctuatinq in- terest rate per annum equal at all times to Three Percent (3$) per annum above the Bank's Prime Rate in effect from time to time. Each chanqe in the fluctuatinq interest rate hereunder ~ shall take effect simultaneously with the.corresponding change ; in the Prime Rate. Both principal and interest are payable in lawful money of the United States of America to the Bank at 721 ~ Locust Street, St. Louis, Missouri 63101, in immediately avail- ~ able funds. ~ This Note is the Term Loan Note referred to in and is ~ entitled to the benefits of that certain Loan Aqreement dated < ~ as of March 30, 1984 (the "Loan Agreement"), between the Bor- ~ rower and the Bank; which Loan Agreement, amonq other things, s contains provisions for acceleration of the maturity hereof ~ upon the happening of certain stated events and also for pre- ~ payments on account of principal hereof prior to ~he maturity . i hereof upon the terms and conditions therein specified. x , ~ e ~ . ~ In the-event of default in the payment of any of the ~ payments of either principal or interest as and when the same ~ ~ ~ ~ 428 ~~~E 919 ~ ~ - £~.~y ~ ~.,~r ~r.. m~. _ ~d~~~~~_~-~_~ _ .