EXHIBIT 10.17
REVOLVING NOTE
$7,500,000
Chicago, Illinois
December 31, 2003
FOR VALUE
RECEIVED, on or before the end of the Original Term or any
applicable Renewal Term (or, if such day is
not a Business Day, on the next
following Business Day), the undersigned,
CTI INDUSTRIES CORPORATION, an
Illinois corporation, and CTI HELIUM, INC.,
an Illinois corporation
(collectively, the "Borrowers" and,
individually, each a "Borrower"), jointly
and severally, each promise to pay to the
order of COLE TAYLOR BANK (herein,
together with its successors and assigns,
called the "Lender"), the maximum
principal sum of SEVEN MILLION FIVE HUNDRED
THOUSAND DOLLARS ($7,500,000) or, if
less, the aggregate unpaid principal amount
of all Revolving Loans made by
Lender to any one or more of the Borrowers
pursuant to that certain Loan and
Security Agreement of even date herewith
among the Borrowers and Lender (herein,
as the same may be amended, modified,
restated or supplemented from time to
time, called the "Loan Agreement").
Each
Borrower, jointly and severally, further promises to pay to the
order
of Lender interest on the aggregate unpaid
principal amount hereof from time to
time outstanding from the date hereof until
paid in full at such rates and at
such times as shall be determined in
accordance with the provisions of the Loan
Agreement. Accrued interest shall be
payable on the dates specified in the Loan
Agreement.
Payments
of both principal and interest are to be made in the lawful
money
of the United States of America in
immediately available funds at Lender's
prin
