Exhibit
10.39
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LOAN NUMBER
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LOAN NAME
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ACCT. NUMBER
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NOTE DATE
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INITIALS
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RF Monolithics, Inc.
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04/13/09
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PB
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NOTE AMOUNT
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INDEX (w/Margin)
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FLOOR RATE
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MATURITY DATE
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LOAN PURPOSE
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$900,000.00
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Wall Street Journal
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6.5%
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04/23/14
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Commercial
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Prime plus 1%
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Creditor Use Only
PROMISSORY NOTE
(Commercial – Single
Advance)
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$900,000.00
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Plano, Texas
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April 13, 2009
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DATE AND PARTIES.
The date of this Promissory Note
(this “ Note ”) is April 13, 2009. The
parties and their addresses are:
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LENDER:
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VIEWPOINT
BANK,
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a federal
savings bank
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1201 W.
15 th
St., MSC 210
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Plano, Texas
75075
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Telephone:
972/509-2020, ext. 3149
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BORROWER:
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RF
MONOLITHICS, INC.,
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a Delaware
corporation
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4441 Sigma
Road
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Dallas, Texas
75244
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Telephone:
972/233-2903
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1. DEFINITIONS. As used in
this Note, the following terms have the meanings set forth
hereinbelow:
A. Lender/Borrower.
“Lender ” and “ Borrower ” means
those parties so designated hereinabove.
B. Note. “ Note
” means this Promissory Note (Commercial-Single Advance) and
any extensions, renewals, modifications and substitutions of this
Note.
C. Loan Documents. “
Loan Documents ” means this Note and all other
documents evidencing, securing or pertaining in any way to this
Note and the Loan.
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D. Loan. “ Loan
” means the lending transaction evidenced in part by this
Note, including obligations and duties arising from the terms of
the Loan Documents.
E. Property. “
Property ” means all property, real, personal or
mixed, that secures the payment and performance of this Note and
the other Loan Documents.
F. Index Rate: “
Index Rate ” means the highest U.S. “prime
rate” determined by reference to the “Money
Rates” section of The Wall Street Journal as long as the
Index Rate is reported therein. If publication of the Index Rate in
The Wall Street Journal is discontinued, Lender shall determine the
Index Rate from other sources. If the Index Rate or information
establishing the Index Rate no longer is available, Lender shall
select a comparable index which shall become the Index Rate.
Lender’s determination of the Index Rate in the absence of
manifest error shall be conclusive and binding on
Borrower.
G. Note Rate. “ Note
Rate ” means a per annum rate of the greater of
(x) six and one half percent (6.5%) or (y) the Index
Rate on the date in question plus one percent (1%), but not to
exceed the Maximum Lawful Rate. Notwithstanding the foregoing, if
the Note Rate for any period is limited to the Maximum Lawful Rate,
the Note Rate shall remain at the Maximum Lawful Rate until an
amount of interest has accrued on this Note equal to the amount of
interest which could not accrue on this Note because of the
limitation of the Note Rate to the Maximum Lawful Rate.
H. Default Rate. “
Default Rate ” means a rate per annum of the lesser of
(x) the Note Rate plus five percent (5%) or (y) the
Maximum Lawful Rate.
I. Maximum Lawful Rate.
“ Maximum Lawful Rate ” means the maximum lawful
rate of interest which may be contracted for, charged, taken,
received or reserved by Lender in accordance with the applicable
laws of the State of Texas (or applicable United States federal law
to the extent that such law permits Lender to contract for, charge,
take, receive or reserve a greater amount of interest than under
Texas law), taking into account all Charges made in connection with
the Loan.
J. Charges. “
Charges ” means all fees, charges and/or any other
things of value, if any, contracted for, charged, taken, received
or reserved by Lender in connection with the Loan, which are
treated or deemed as interest under applicable law.
2. PROMISE TO PAY. For value
received, Borrower promises to pay to Lender or order, at
Lender’s address set forth hereinabove or at such other
location as Lender may designate in writing to Borrower, the
principal sum of Nine Hundred Thousand and No/100 Dollars
($900,000.00) plus interest on the unpaid principal balance of this
Note from April 13, 2009, until this Note is repaid in full at
the applicable rates set forth hereinbelow.
3. INTEREST ACCRUAL. The
outstanding principal balance of this Note shall accrue interest
from April 13, 2009, until this Note is fully repaid at the
Note Rate or the Default Rate,
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whichever is applicable at the time in question.
During all periods when there is no default under the terms of the
Loan, the outstanding principal balance of this Note shall accrue
interest at the Note Rate. During all periods when there is a
default under the terms of the Loan, the outstanding principal
balance of this Note shall accrue interest at the Default Rate.
Accrued interest on the outstanding principal balance of this Note
shall be computed on the basis of a three hundred sixty
(360) day year and shall accrue on the actual number of days
elapsed for any period in which interest is being calculated,
provided that if computing interest using a three hundred sixty
(360) day year causes interest to exceed the Maximum Lawful
Rate, interest shall be calculated using a three hundred sixty-five
(365) day year, or three hundred sixty-six (366) day
year, as applicable. In computing the number of days during which
interest accrues, the day on which funds are initially advanced
shall be included regardless of the time of day such advance is
made, and the day on which funds are repaid shall be included
unless repayment is credited prior to the close of business on the
business day received.
4. INTEREST
PROVISIONS.
A. Savings Clause . It
is expressly stipulated and agreed to be the intent of Lender and
Borrower at all times to comply strictly with the applicable Texas
law governing the maximum rate or amount of interest payable on the
indebtedness evidenced by this Note (or applicable United States
federal law to the extent that it permits Lender to contract for,
charge, take, reserve or receive a greater amount of interest than
under Texas law). If the applicable law is ever judicially
interpreted so as to render usurious any amount (i) contracted
for, charged, taken, reserved or received pursuant to this Note,
any of the other Loan Documents or any other communication or
writing by or between Lender and Borrower related to the
transaction or transactions that are the subject matter of the Loan
Documents, (ii) contracted for, charged, taken, reserved or
received by reason of Lender’s exercise of the option to
accelerate the maturity of this Note, or (iii) Lender will
have received by reason of any voluntary prepayment by Borrower of
this Note, then it is Lender’s and Borrower’s express
intent that all amounts charged in excess of the Maximum Lawful
Rate automatically shall be canceled, ab initio , and all
amounts in excess of the Maximum Lawful Rate theretofore collected
by Lender shall be credited on the principal balance of this Note
(or, if this Note has been or would thereby be paid in full,
refunded to Borrower), and the provisions of this Note and the
other Loan Documents immediately shall be deemed reformed and the
amounts thereafter collectible hereunder and thereunder reduced,
without the necessity of the execution of any new document, so as
to comply with the applicable law but so as to permit the recovery
of the fullest amount otherwise called for hereunder and
thereunder; provided, however, if this Note has been paid in full
before the end of the stated term of this Note, then Lender and
Borrower agree that Lender shall, with reasonable promptness after
Lender discovers or is advised by Borrower that interest was
received in an amount in excess of the Maximum Lawful Rate, refund
such excess interest to Borrower. Borrower hereby agrees that, as a
condition precedent to any claim seeking usury penalties against
Lender, Borrower will provide written notice to Lender, advising
Len