EXHIBIT 10.3
FORM OF TERM NOTE
$_
, 200
FOR VALUE RECEIVED, the undersigned,
U-STORE-IT, L.P., a limited partnership formed under the laws of
the State of Delaware (the “Borrower”), hereby promises
to pay to the order of _
(the “Lender”), in care of Wachovia Bank, National
Association, as Agent (the “Agent”) at Wachovia Bank,
National Association, One Wachovia Center, 301 South College
Street, Charlotte, North Carolina 28288, or at such other address
as may be specified in writing by the Agent to the Borrower, the
principal sum of _
AND _ /100 DOLLARS ($_
) (or such lesser amount as shall equal the unpaid principal amount
of the Term Loan made by the Lender to the Borrower under the
Credit Agreement (as herein defined)), on the dates and in the
principal amounts provided in the Credit Agreement, and to pay
interest on the unpaid principal amount owing hereunder, at the
rates and on the dates provided in the Credit Agreement.
The date, amount of the Term Loan
made by the Lender to the Borrower, and each payment made on
account of the principal thereof, shall be recorded by the Lender
on its books and, prior to any transfer of this Note, endorsed by
the Lender on the schedule attached hereto or any continuation
thereof, provided that the failure of the Lender to make any such
recorda
