Term Note between ACT Manufacturing, Inc. and Lender under Credit Agreement dated June 29, 2000

Contract Categories: Business Finance › Note Agreements
Summary

This agreement is a term note issued by ACT Manufacturing, Inc. to a lender, promising to repay a specified loan amount under the terms of a Credit Agreement dated June 29, 2000. The note outlines repayment schedules, interest rates, and conditions for prepayment, all governed by the Credit Agreement. The note is secured and may not be transferred except as allowed by the Credit Agreement. If ACT Manufacturing defaults, the full amount may become immediately due. The agreement is governed by New York law.

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EX-10.3 4 0004.txt FORM OF TERM NOTE EXHIBIT 10.3 FORM OF TERM NOTE THIS NOTE AND THE OBLIGATIONS REPRESENTED HEREBY MAY NOT BE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE TERMS AND PROVISIONS OF THE CREDIT AGREEMENT REFERRED TO BELOW. TRANSFERS OF THIS NOTE AND THE OBLIGATIONS REPRESENTED HEREBY MUST BE RECORDED IN THE REGISTER MAINTAINED BY THE ADMINISTRATIVE AGENT PURSUANT TO THE TERMS OF SUCH CREDIT AGREEMENT. $____________________ ________ ___, 200_ FOR VALUE RECEIVED, the undersigned, ACT MANUFACTURING, INC. (the "Parent ------ Borrower"), a Massachusetts corporation, hereby unconditionally promises to pay - -------- _______ to (the "Lender") or its registered assigns at the office of The Chase ------ Manhattan Bank at One Chase Square, Rochester, New York 14643 for the account of the Lender in lawful money of the United States and in immediately available funds, the principal amount of (a) _______ DOLLARS ($ ______), or, if less, (b) the unpaid principal amount of the [French] [Thai] Term Loan made by the Lender pursuant to Section 2.1 of the Credit Agreement (as hereinafter defined). The principal amount shall be paid in the amounts and on the dates specified in Section 2.3 of the Credit Agreement. The Parent Borrower further agrees to pay interest in like money at such office on the unpaid principal amount hereof from time to time outstanding at the rates and on the dates specified in Section 2.12 of the Credit Agreement. The holder of this Note is authorized to endorse on the schedules annexed hereto and made a part hereof or on a continuation thereof which shall be attached hereto and made a part hereof the date, Type and amount of the [French] [Thai] Term Loan and the date and amount of each payment or prepayment of principal with respect thereto, each conversion of all or a portion thereof to another Type, each continuation of all or a portion thereof as the same Type and, in the case of Eurocurrency Loans, the length of each Interest Period with respect thereto. Each such endorsement shall constitute prima facie evidence of ----- ----- the accuracy of the information endorsed. The failure to make any such endorsement or any error in any such endorsement shall not affect the obligations of the Parent Borrower in respect of the [French] [Thai] Term Loan. This Note (a) is one of the Notes referred to in the Credit Agreement dated as of June 29, 2000 (as amended, supplemented or otherwise modified from time to time, the "Credit Agreement"), among the Parent Borrower, the Lender, the other ---------------- banks and financial institutions or entities from time to time parties thereto, Credit Suisse First Boston, as Syndication Agent, Societe Generale, as Documentation Agent and The Chase Manhattan Bank, as Administrative Agent, (b) is subject to the provisions of the Credit Agreement and (c) is subject to optional and mandatory prepayment in whole or in part as provided in the Credit Agreement. This Note is secured and guaranteed as provided in the Loan Documents. Reference is hereby made to the Loan Documents for a description of the properties and assets in which a security interest has been granted, the nature and extent of the security and the guarantees, the terms and conditions upon which the security interests and each guarantee were granted and the rights of the holder of this Note in respect thereof. During the existence of any one or more of the Events of Default, all principal and all accrued interest then remaining unpaid on this Note shall become, or may be declared to be, immediately due and payable, all as provided in the Credit Agreement. All parties now and hereafter liable with respect to this Note, whether maker, principal, surety, guarantor, endorser or otherwise, hereby waive presentment, demand, protest and all other notices of any kind. Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN OR IN THE CREDIT AGREEMENT, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT PURSUANT TO AND IN ACCORDANCE WITH THE REGISTRATION AND OTHER PROVISIONS OF SECTION 10.6 OF THE CREDIT AGREEMENT. THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. ACT MANUFACTURING, INC., as Parent Borrower By:_______________________________ Name: Title: Schedule A to Term Note ------------ LOANS, CONVERSIONS AND REPAYMENTS OF ALTERNATE BASE RATE LOANS
- ------------------------------------------------------------------------------------------------------------------------------------ Amount Amount of Principal Amount of Alternate Unpaid Principal Amount of Alternate Base Converted to Alternate of Alternate Base Rate Base Rate Loans Balance of Date Rate Loans Base Rate Loans Loans Repaid Converted to Alternate Base Notation Eurocurrency Loans Rate Loans Made By - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
Schedule B to Term Note ------------ LOANS, CONTINUATIONS, CONVERSIONS AND REPAYMENTS OF EUROCURRENCY LOANS
- ------------------------------------------------------------------------------------------------------------------------------------ Amount of Eurocurrency Unpaid Principal Amount of Amount Converted Interest Period and Amount of Principal Loans Converted to Balance of Eurocurrency to Eurocurrency Eurocurrency Rate with of Eurocurrency Alternate Base Rate Eurocurrency Notation Date Loans Loans Respect Thereto Loans Repaid Loans Loans Made By - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================