Exhibit 10.12
REVOLVING CREDIT NOTE
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$10,000,000
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August 2, 2007 |
FOR VALUE RECEIVED, the undersigned
(the “Borrower”) absolutely and unconditionally
promises to pay to the order of TD Banknorth, N.A.,
(“Payee”) at the office of Sovereign Bank, as Agent at
75 State Street, Boston, Massachusetts 02109:
(a) on
the Maturity Date, the principal amount of TEN MILLION DOLLARS
($10,000,000.00) or, if less, the aggregate unpaid principal amount
of Revolving Credit Loans owing to the Payee pursuant to the Credit
Agreement of even date herewith, as amended or supplemented from
time to time (the “ Credit Agreement ”), by and
among the Borrower and the Lenders; and
(b) interest
on the principal balance hereof from time to time outstanding from
the date hereof through and including the date on which such
interest is computed pursuant to the Credit Agreement, at the times
and at the rates provided in the Credit Agreement.
This Note evidences borrowings under,
is subject to the terms and conditions of and has been issued by
the Borrower in accordance with the terms of the Credit Agreement
and is one of the Notes referred to therein. The Payee and any
holder hereof is entitled to the benefits and subject t
