Exhibit 10.26
THIRD AMENDED AND
RESTATED
SECURED REVOLVING LINE OF
CREDIT NOTE
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$25,000,000.00
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Chicago, Illinois
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February 10, 2005
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FOR VALUE RECEIVED, HURON
CONSULTING GROUP INC., a
Delaware corporation and HURON CONSULTING SERVICES LLC, a
Delaware limited liability company f/k/a Huron Consulting Group LLC
(“Subsidiary”) (each of the foregoing two entities are
hereby collectively referred to herein as the Borrower), jointly
and severally promise to pay to the order of LASALLE BANK
NATIONAL ASSOCIATION (the “Bank”), at such place as
Bank may from time to time designate in writing, the principal sum
of TWENTY-FIVE MILLION AND NO/100 DOLLARS ($25,000,000.00) ,
or such lesser principal sum as may then be owed by Borrower to
Bank hereunder. Any principal that is borrowed and repaid hereunder
may be borrowed again in accordance with the terms of this Note and
that certain Amended and Restated Loan and Security Agreement of
even date herewith between Borrower and Bank pursuant to which this
Note is being delivered (the “Loan Agreement”). Except
as hereinafter provided, Borrower’s obligations and
liabilities to Bank under this Note (collectively, the
“Borrower’s Liabilities”) unpaid from time to
time shall bear interest at the rate(s) hereinafter set forth from
the date advanced, disbursed or otherwise incurred until
paid.
All outstanding principal shall be
payable on or prior to February 10, 2006 (the “Maturity
Date”).
The amount of principal hereunder
shall bear interest as provided in the Loan Agreement.
In no event will the interest rate
hereunder exceed that permitted by applicable law. If any interest
or other charge is finally determined by a court of competent
jurisdiction to exceed the maximum amount permitted by law, the
interest or charge shall be reduced to the maximum permitted by
law, and the Bank may credit any excess amount previously collected
against the balance due or refund the amount to the
Borrower.
Any check, draft or similar item of
payment by or for the account of Borrower delivered to Bank on
account of Borrower’s Liabilities shall, provided the same is
honored by Bank and final settlement thereof is reflected by
irrevocable credit to Bank, be applied by Bank on account of
Borrower’s Liabilities in accordance with Bank’s funds
availability schedule and in such order as Bank shall determine in
its sole discretion.
Borrower warrants and represents to
Bank and covenants with Bank that Borrower is not in the business
of extending credit for the pur
