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SECOND AMENDED AND RESTATED REVOLVING CREDIT NOTE

Revolving Credit Agreement

SECOND AMENDED AND RESTATED REVOLVING CREDIT NOTE | Document Parties: LASALLE BANK MIDWEST NATIONAL ASSOCIATION | LaSalle Business Credit, Inc | LaSalle Business Credit, LLC | Medical Technology Systems, Inc | MTS MEDICATION TECHNOLOGIES, INC | MTS PACKAGAING SYSTEMS, INC | Philadelphia, PA | Standard Federal Bank, National Association You are currently viewing:
This Revolving Credit Agreement involves

LASALLE BANK MIDWEST NATIONAL ASSOCIATION | LaSalle Business Credit, Inc | LaSalle Business Credit, LLC | Medical Technology Systems, Inc | MTS MEDICATION TECHNOLOGIES, INC | MTS PACKAGAING SYSTEMS, INC | Philadelphia, PA | Standard Federal Bank, National Association

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Title: SECOND AMENDED AND RESTATED REVOLVING CREDIT NOTE
Governing Law: Pennsylvania     Date: 12/4/2006
Industry: Medical Equipment and Supplies     Sector: Healthcare

SECOND AMENDED AND RESTATED REVOLVING CREDIT NOTE, Parties: lasalle bank midwest national association , lasalle business credit  inc , lasalle business credit  llc , medical technology systems  inc , mts medication technologies  inc , mts packagaing systems  inc , philadelphia  pa , standard federal bank  national association
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SECOND AMENDED AND RESTATED REVOLVING CREDIT NOTE

     

Executed as of the 30th day of November

 

Amount $5,000,000.00

2006 and delivered in Philadelphia, PA

   

         FOR VALUE RECEIVED AND INTENDING TO BE LEGALLY BOUND, the Undersigned (jointly and severally, if more than one) promises to pay to the order of LASALLE BANK MIDWEST NATIONAL ASSOCIATION (formerly known as Standard Federal Bank, National Association) (hereinafter, together with any holder hereof, called " Lender "), at the main office of Agent (as hereinafter defined), the principal sum of Five Million Dollars ($5,000,000.00) plus the aggregate unpaid principal amount of all loans and advances made by Lender or Agent to the Undersigned (or any one of them, if more than one) pursuant to and in accordance with Subsection 2(a) of the Loan Agreement (as hereinafter defined) in excess of such amount, or, if less, the aggregate unpaid principal amount of all loans and advances made by Lender to the Undersigned (or any one of them, if more than one) pursuant to and in accordance with Subsection 2(a) of the Loan Agreement. The Undersigned (jointly and severally, if more than one) further promises to pay interest on the outstanding principal amount hereof on the dates and at the rates provided in the Loan Agreement from the date hereof until payment in full hereof.

        This Note is referred to in and was delivered pursuant to that certain Loan and Security Agreement dated June 26, 2002 among LaSalle Business Credit, LLC, successor by merger to LaSalle Business Credit, Inc. ( "Agent" ), Lender, the Undersigned and the Guarantors named therein (as amended by that certain First Amendment to Loan and Security Agreement dated July 18, 2003, that certain Second Amendment to Loan and Security Agreement dated June 18, 2004, that certain Third Amendment to Loan and Security Agreement dated February 22, 2006, that certain Fourth Amendment to Loan and Security Agreement dated of even date herewith and as it may be further amended, modified or supplemented from time to time, together with all exhibits thereto, the "Loan Agreement" ), and evidences the Undersigned’s Liabilities in respect of Revolving Loans. All terms which are capitalized and used herein (which are not otherwise defined herein) shall have the meaning ascribed to such terms in the Loan Agreement.

        The outstanding principal balance hereunder and all accrued and unpaid interest thereon shall be due and payable in full when and as provided for in the Loan Agreement.

        The Undersigned (and each one of them, if more than one) hereby authorizes the Agent to charge any account of the Undersigned (and each one of them, if more than one) for all sums due hereunder. If payment hereunder becomes due and payable on a Saturday, Sunday or legal holiday under the laws of the United States or the Commonwealth of Pennsylvania, the due date thereof shall be extended to the next succeeding Business Day, and interest shall be payable thereon at the rate specified during such extension. Credit shall be given for payments made in the manner and at the times provided in the Loan Agreement. It is the intent of the parties that the rates of interest and other charges to the Undersigned under this Note shall be lawful; therefore, if for any reason the interest or other charges payable hereunder are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Agent or Lender may lawfully charge the Undersigned, then the obligation to pay interest or other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to the Undersigned.


        The Undersigned (and each one of them, if more than one) waives the benefit of any law that would otherwise restrict or limit Agent or Lender in the exercise of its right, which is hereby acknowledged, to set-off against the Liabilities, without notice and at any time hereafter, any indebtedness matured or unmatured owing from Agent or Lender to the Undersigned (or any one of them). The Undersigned (and each one of them, if more than one) waives every counterclaim (other than those that are not permitted to be brought in separate actions) or setoff which the Undersigned (or any one of them) may now have or hereafter may have to any action by Agent and/or Lender in enforci


 
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