NON REVOLVING LINE OF CREDIT PROMISSORY NOTE
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| $6,200,000.00 |
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Phoenix, Arizona |
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March 28, 2008 |
FOR VALUE RECEIVED, RENEGY HOLDINGS,
INC, a Delaware corporation (the “ Borrower ”),
promises to pay to the order of COMERICA BANK (“
Lender ”, with Lender and each subsequent transferee
and/or owner of this Non Revolving Line of Credit Promissory Note
(the “ NRLC Note ”), whether taking by
endorsement or otherwise, being herein successively called “
Holder ”), at Comerica Bank, Phelps Dodge Tower, One
North Central Ave., Suite 1000, 10 th Floor, Phoenix,
Arizona 85004, or at such other place as Holder may from
time-to-time designate in writing, the principal sum of SIX MILLION
TWO HUNDRED THOUSAND AND NO/100 DOLLARS ($6,200,000.00), or so much
thereof as may be from time-to-time outstanding, together with
interest thereon, to be computed on each Advance thereof from the
date of its disbursement, at the interest rates stated in the
Credit Agreement of even date herewith between Borrower, as
borrower, and Lender, as lender, as the same may from time to time
be amended, modified, extended, renewed or restated (the “
Credit Agreement ”).
This NRLC Note is issued pursuant to
the Credit Agreement and is secured by the Credit Documents and the
Related Documents, including the Guaranty. Capitalized terms used
and not otherwise defined herein shall have the meanings assigned
to such terms in the Credit Agreement. In the event of any conflict
between the provisions of this NRLC Note and the provisions of the
Credit Agreement, the provisions of the Credit Agreement shall
govern. All notices required or permitted in connection with this
NRLC Note shall be given in the manner provided in the Credit
Agreement for the giving of notices.
All amounts advanced by Lender under
this NRLC Note shall be Advances. Advances hereunder shall be made
in accordance with the provisions of the Credit Agreement
pertaining to Advances, and the principal of the indebtedness
evidenced hereby, and interest thereon, shall be payable in the
manner and on the dates stated in the Credit Agreement. All
principal, interest and other charges and amounts to be paid
hereunder shall be due and payable, in full, on the Maturity Date.
Payments under this NRLC Note shall be a
