Revolving Loan Promissory Note between Aegis Communications Group, Inc. and The CIT Group/Business Credit, Inc.
Aegis Communications Group, Inc. and its affiliates have signed a promissory note with The CIT Group/Business Credit, Inc. for a revolving loan of up to $20 million. The companies jointly promise to repay any borrowed amounts, plus interest, under the terms set in a related financing agreement. The note allows for prepayment and requires immediate repayment if there is a default or the financing agreement ends. The agreement is governed by the terms of the referenced financing agreement and is effective as of May 11, 2006.
Exhibit 10.25
REVOLVING LOAN PROMISSORY NOTE
$20,000,000 | May 11, 2006 |
FOR VALUE RECEIVED, each of the undersigned, AEGIS COMMUNICATIONS GROUP, INC., a Delaware corporation (Parent) ADVANCED TELEMARKETING CORPORATION, a Nevada corporation (ATC), IQI, INC., a New York corporation (IQI), LEXI INTERNATIONAL, INC., a California corporation (Lexi), and INTERSERV SERVICES CORPORATION, a Delaware corporation (InterServ and together with Parent, ATC, IQI and Lexi, each individually a Company and collectively, the Companies), individually and collectively, jointly and severally promises to pay to the order of THE CIT GROUP/BUSINESS CREDIT, INC. (Lender), at Lenders office located at 5420 LBJ Freeway, Suite 200, Dallas, Texas 75240, in lawful money of the United States of America and in immediately available funds, the principal amount of Twenty Million and No/100 Dollars ($20,000,000.00), or such lesser amount as may be advanced to the Company by Lender as Revolving Loans under the Financing Agreement (as defined below) and remain unpaid, on the Termination Date.
Each Company further jointly and severally agrees to pay interest at said office, in like money, on the unpaid principal amount of Revolving Loans outstanding from time to time on the dates and at the rates specified in Section 8 of the Financing Agreement of even date herewith among each Company, the Lenders that are parties thereto and The CIT Group/Business Credit, Inc., as Agent for the Lenders (the Financing Agreement). Capitalized terms used in this Note and defined in the Financing Agreement shall have the meanings given to such terms in the Financing Agreement unless otherwise specifically defined herein.
This Note is a Promissory Note referred to in the Financing Agreement, evidences the Revolving Loans made to the Companies by the Lender thereunder, and is subject to, and entitled to, all provisions and benefits thereof, including optional and mandatory prepayment, in whole or in part, as provided therein.
Notwithstanding any other provision of this Note to the contrary, upon the occurrence of any Event of Default specified in the Financing Agreement, or upon termination of the Financing Agreement for any reason, all amounts then remaining unpaid on this Note may become, or be declared to be, at the sole election of Agent or the Required Lenders, immediately due and payable as provided in the Financing Agreement.
AEGIS COMMUNICATIONS GROUP, INC | ||
By: /s/ Kannan Ramasamy | ||
Title: President & CEO | ||
ADVANCED TELEMARKETING CORPORATION | ||
By: /s/ Kannan Ramasamy | ||
Title: President & CEO | ||
IQI, INC. | ||
By: /s/ Kannan Ramasamy | ||
Title: President & CEO | ||
LEXI INTERNATIONAL, INC. | ||
By: /s/ Kannan Ramasamy | ||
Title: President & CEO | ||
INTERSERV SERVICES CORPORATION | ||
By: /s/ Steven Alred Hough Marshall | ||
Title: Vice President & Secretary |