THE STEAK N SHAKE
COMPANY
No. 2006
I-1
PPN: 857873 A@ 2
ORIGINAL
PRINCIPAL AMOUNT: $4,300,000.00
ORIGINAL ISSUE
DATE: October 27, 2006
INTEREST RATE:
5.66% per annum
INTEREST
PAYMENT DATES: January 27, April 27, July 27 and
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October 27,
commencing January 27, 2007
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FINAL MATURITY
DATE: October 27, 2011
PRINCIPAL
PREPAYMENT DATES AND AMOUNTS: $1,433,333.33 annually on
October 27 th of each year,
commencing
FOR VALUE
RECEIVED, the undersigned, Steak N Shake Company (herein called the
"Company"), a corporation organized and existing under the laws of
the State of Indiana, hereby promises to pay to THE PRUDENTIAL
INSURANCE COMPANY OF AMERICA, or registered assigns, the principal
sum of FOUR MILLION THREE HUNDRED THOUSAND DOLLARS ($4,300,000.00),
payable on the Princi-pal Prepayment Dates and in the amounts
specified above, and on the Final Maturity Date specified above in
an amount equal to the unpaid balance of the principal here-of,
with interest (computed on the basis of a 360-day year--30-day
month) (a) on the unpaid balance thereof at the Interest Rate per
annum specified above, payable on each Interest Payment Date
specified above and on the Final Maturity Date specified above,
commencing with the Interest Payment Date next succeeding the date
hereof, until the principal hereof shall have become due and
pay-able, and (b) on any overdue payment (including any overdue
prepayment) of principal, any overdue payment of Yield Maintenance
Amount and any overdue payment of interest, payable on each
Interest Payment Date as aforesaid (or, at the option of the
register
