Revolving Credit Note between Veridian Corporation and Lender under June 10, 2002 Credit Agreement

Contract Categories: Business Finance › Note Agreements
Summary

Veridian Corporation agrees to repay the Lender for any revolving credit loans made under a Credit Agreement dated June 10, 2002. The note outlines that Veridian must pay back the principal and interest as specified in the Credit Agreement, using U.S. dollars. The debt is senior to any subordinated debt, and the note is governed by North Carolina law. The agreement also waives certain formalities for payment demands. This document serves as evidence of Veridian's obligation to repay the borrowed amounts under the revolving credit facility.

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EX-10.3 5 w84162exv10w3.htm FORM OF REVOLVING CREDIT NOTE exv10w3  

Exhibit 10.3

REVOLVING CREDIT NOTE

$                               ,        

     FOR VALUE RECEIVED, the undersigned, VERIDIAN CORPORATION, a corporation organized under the laws of the state of Delaware (the “Borrower”), promises to pay to the order of           (the “Lender”), at the place and times provided in the Credit Agreement referred to below, the principal sum of            DOLLARS ($          ) or, if less, the principal amount of all Revolving Credit Loans made by the Lender from time to time pursuant to that certain Credit Agreement dated as of June 10, 2002 (as amended, restated, supplemented or otherwise modified, the “Credit Agreement”) by and among the Borrower, the Lenders, who are or may become a party thereto (collectively, the “Lenders”) and Wachovia Bank, National Association, as Administrative Agent. Capitalized terms used herein and not defined herein shall have the meanings ascribed to them in the Credit Agreement.

     The unpaid principal amount of this Revolving Credit Note from time to time outstanding is subject to mandatory repayment from time to time and shall bear interest, each as provided in the Credit Agreement. All payments of principal and interest on this Revolving Credit Note shall be payable in lawful currency of the United States of America in immediately available funds to the account designated in the Credit Agreement.

     This Revolving Credit Note is entitled to the benefits of, and evidences Obligations incurred under the Credit Agreement, to which reference is made for a description of the security for this Revolving Credit Note and for a statement of the terms and conditions on which the Borrower is permitted and required to make prepayments and repayments of principal of the Obligations evidenced by this Revolving Credit Note and on which such Obligations may be declared to be immediately due and payable.

     THIS REVOLVING CREDIT NOTE SHALL BE GOVERNED, CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NORTH CAROLINA, WITHOUT REFERENCE TO THE CONFLICTS OR CHOICE OF LAW PRINCIPLES THEREOF.

     The Debt evidenced by this Revolving Credit Note is senior in right of payment to all Subordinated Debt referred to in the Credit Agreement.

     The Borrower hereby waives all requirements as to diligence, presentment, demand of payment, protest and (except as required by the Credit Agreement) notice of any kind with respect to this Revolving Credit Note.

 

     IN WITNESS WHEREOF, the undersigned has executed this Revolving Credit Note under seal as of the day and year first above written.

  VERIDIAN CORPORATION
[CORPORATE SEAL]

  By:                                              
     Name:                                   
     Title: