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Exhibit 10.6
REVOLVING LINE OF CREDIT NOTE
$5,000,000.00 Denver, Colorado
February 18, 2005
FOR VALUE RECEIVED, the undersigned STAR SOLUTIONS OF DELAWARE,
INC. ("Borrower)
promises to pay to the order of WELLS FARGO BANK, NATIONAL
ASSOCIATION (`Bank at
its office at 1740 Broadway, Denver, Colorado 80274, or at such
other place as
the holder hereof may designate, in lawful money of the United
States of America
and in immediately available funds, the principal sum of Five
Million Dollars
($5,000,000.00), or so much thereof as may be advanced and be
outstanding, with
interest thereon, to be computed on each advance from the date
of its
disbursement as set forth herein.
INTEREST:
(a) INTEREST. The outstanding principal balance of this Note
shall bear
interest. (computed on the basis of a 360-day year, actual days
elapsed) at a
rate per annum one and one half percent (1.50%) above the Prime
Rate in effect
from time to time. See attached pricing grid. The "Prime Rate"
is a base rate
that Bank from time to time establishes and which serves as the
basis upon which
effective rates of interest are calculated for those loans
making reference
thereto. Each change in the rate of interest hereunder shall
become effective on
the date each Prime Rate change is announced within Bank.
(b) PAYMENT OF INTEREST. Interest accrued on this Note shall be
payable
on the first day of each month, commencing April 1, 2005.
(c) DEFAULT INTEREST. From and after the maturity date of this
Note, or
such earlier date as all principal owing hereunder becomes due
and payable by
acceleration or otherwise, the outstanding principal balance of
this Note shall
bear interest until paid in full at an increased rate per annum
(computed on the
basis of a 360-day year; actual days elapsed) equal to four
percent (4%) above
the rate of interest from time to time applicable to this
Note.
BORROWING AND REPAYMENT:
(a) BORROWING AND REPAYMENT. Borrower may from time to time
during the
term of this Note borrow, partially or wholly repay Its
outstanding borrowings,
and reborrow, subject to all of the limitations, terms and
conditions of this
Note and of any document executed in connection with or
governing this Note;
provided however, that the total outstanding borrowings under
this Note shall
not at any time exceed the principal amount stated above. The
unpaid principal
balance of this obligation at any time shall be the total
amounts advanced
hereunder by the holder hereof less the amount of principal
payments made hereof
by or for any Borrower, which balance may be endorsed hereon
from time to time
by the holder. The outstanding principal balance of this Note
shall be due and
payable in full on March 1, 2007.
(b) ADVANCES. Advances hereunder, to the total amount of the
principal
sum stated above, may be made by the holder at the oral or
written request of
(I) Thomas P. Sweeney. Ill, any one acting alone,: who are
authorized to request
advances and direct the disposition of any advances until
written notice of the
revocation of such authority is
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received by the holder at the office designated above, or (ii)
any person, with
respect to advances deposited to the credit of any deposit
account of any
Borrower, which advances, when so deposite
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