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Exhibit
10.81
EXHIBIT A
REVOLVING CREDIT
NOTE
FOR VALUE RECEIVED, the
undersigned, EXACTECH, INC., a Florida corporation (the
“Borrower”), promises to pay to the order of [NAME OF
LENDER] (the “Bank”), or its registered assigns, at the
office of SunTrust Bank (“SunTrust”) at 5080 Newberry
Road, Gainesville, Florida 32607, on the Commitment Termination
Date [as defined in the Revolving Credit Agreement dated of even
date herewith (as the same may be amended, supplemented, or
otherwise modified from time to time, the “Credit
Agreement”) among the Borrower, the lenders from time to time
party thereto, and SunTrust, as administrative agent for the
lenders], the principal sum of [amount of such Lender’s
Revolving Commitment] or such lesser amount as may then constitute
the aggregate unpaid principal amount of all Revolving Loans made
by the Bank to the Borrower pursuant to the Credit Agreement in
lawful money of the United States, in immediately available funds.
All capitalized terms used herein and not defined herein shall have
the meanings given to them in the Credit Agreement.
Prior to an Event of Default,
the Borrower hereby promises to pay interest in like money at such
office or place from the date hereof on the unpaid principal
balance hereof at the Index Rate plus the Applicable Margin. From
and after an Event of Default, the Borrower shall pay interest at
the Default Interest rate. Interest on the unpaid principal balance
outstanding hereunder shall be calculated on the basis of a year
containing 360 days and shall be payable on the fifteenth day of
each calendar month commencing June 30, 2008, and upon the
final payment of the unpaid principal amount hereof.
ALL OUTSTANDING AND UNPAID
PRINCIPAL AND ALL ACCRUED AND UNPAID INTEREST HEREUNDER SHALL BE
IMMEDIATELY DUE AND PAYABLE UPON THE EARLIER TO OCCUR OF: THE
COMMITMENT TERMINATION DATE, OR AN EVENT OF DEFAULT (AS SUCH TERMS
ARE DEFINED IN THE CREDIT AGREEMENT).
If any payment on this Note
becomes due and payable on a Saturday, Sunday or other day on which
commercial banks in Jacksonville, Florida, are authorized or
required by law to close, the maturity thereof shall be extended to
the next succeeding Business Day and, with respect to payments of
principal, interest thereon shall be payable at the then applicable
rate during
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