TERM NOTE

Contract Categories: Business Finance - Note Agreements
EX-10.2 3 a06-20756_1ex10d2.htm EX-10

Exhibit 10.2

TERM NOTE

$100,000,000

Nashville, Tennessee

 

September 29, 2006

 

FOR VALUE RECEIVED, the undersigned, J. B. Hunt Transport, Inc., a Georgia corporation (the “Borrower”), hereby promises to pay to SunTrust Bank (the “Lender”) or its registered assigns, at the office of SunTrust Bank (“SunTrust”) at 25 Park Place, N.E., Atlanta, Georgia 30303, (i) on the Maturity Date (as defined in the Term Loan Agreement dated as of September 29, 2006, as the same may be amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, the Lenders from time to time party thereto and SunTrust, as Administrative Agent for the Lenders, the aggregate unpaid principal amount of the Term Loan made by the Lender to the Borrower pursuant to the Credit Agreement, and (ii) on each date specified in the Credit Agreement prior to the Maturity Date, the principal amount of the Term Loan made to the Borrower by the Lender pursuant to the Credit Agreement and payable to the Lender on such date as specified therein, in each case in lawful money of the United States of America in immediately available funds, and to pay interest from the date hereof on the principal amount thereof from time to time outstanding, in like funds, at said office, at the rate or rates per annum and payable on such dates as provided in the Credit Agreement. In addition, should legal action or an attorney-at-law be utilized to collect any amount due hereunder, the Borrower further promises to pay all costs of collection, including the reasonable attorneys’ fees of the Lender.

The Borrower promises to pay interest, on demand, on any overdue principal and, to the extent permitted by law, overdue interest from their due dates at a rate or rates provided in the Credit Agreement.

All borrowings evidenced by this Term Note and all payments and prepayments of the principal hereof and the date thereof shall be endorsed by the holder hereof on the schedule attached hereto and made a part hereof or on a continuation thereof which shall be attached hereto and made a part hereof, or otherwise recorded by such holder in its internal records; provided, that the failure of the holder hereof to make such a notation or any error in such notation shall not affect the obligations of the Borrower to make the payments of principal and interest in accordance with the terms of this Term Note and the Credit Agreement.

This Term Note is issued in connection with, and is entitled to the benefits of, the Credit Agreement which, among other things, contains provisions for the acceleration of the maturity hereof upon the happening of certain events, for prepayment of the principal hereof prior to the maturity hereof and for the amendment or waiver of certain provisions of the Credit Agreement, all upon the terms and conditions therein specified.




THIS TERM NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF TENNESSEE AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA.

J. B HUNT TRANSPORT, INC.

 

 

 

 

 

By:

/s/ Jerry W. Walton

 

 

 

 

Name:

Jerry W. Walton

 

 

 

 

Title:

Chief Financial Officer

 

 




 

LOANS AND PAYMENTS

Date

 

Amount of Loan

 

Payments of
Principal

 

Unpaid Principal
Balance of Note

 

Name of Person
Making Notation