Unassociated Document


    PROMISSORY
      NOTE

     

    
      
        	$29,000.00	
                As
                  of June 30, 2006

                Mingo
                  Junction, Ohio

              


      

    

      

    Beverage
      Acquisition Corporation (the “Maker”)
      promises to pay to the order of Rodman L. Drake (the “Payee”)
      the
      principal sum of Twenty Nine Thousand Dollars and No Cents ($29,000.00) in
      lawful money of the United States of America, on the terms and conditions
      described below.

    


    1. Principal.
      The
      principal balance of this Note shall be repayable on the earlier of (i) June
      30,
      2007, or (ii) the date on which Maker consummates an initial public offering
      of
      its securities (the “Maturity
      Date”).

    


    2.
       Interest.
      Interest shall not accrue on the unpaid principal balance of this
      Note.

    


    3. Payment.
      The
      principal balance of this Note may be prepaid in whole or in part at any time
      or
      from time to time. 

    


    4. Application
      of Payments.
      All
      payments shall be applied first to payment in full of any costs incurred in
      the
      collection of any sum due under this Note, including, without limitation,
      reasonable attorneys’ fees, and, finally, to the reduction of the unpaid
      principal balance of this Note.

    


    5.
       Events
      of Default.
      The
      following shall constitute Events of Default:

     

    (a)
       Failure
      to Make Required Payments.
      Failure
      by Maker to pay the principal of or accrued interest on this Note within five
      (5) business days following the date when due.

     

    (b) Voluntary
      Bankruptcy, Etc.
      The
      commencement by Maker of a voluntary case under applicable bankruptcy law,
      or
      any other applicable insolvency, reorganization, rehabilitation or other similar
      law, or the consent by it to the appointment of, or taking possession by, a
      receiver, liquidator, assignee, trustee, custodian, sequestrator or other
      similar official of Maker or for any substantial part of its property, or the
      making by it of any assignment for the benefit of creditors, or the failure
      of
      Maker generally to pay its debts as such debts become due, or the taking of
      corporate action by Maker in furtherance of any of the foregoing.

     

    (c)
       Involuntary
      Bankruptcy, Etc.
      The
      entry of a decree or order for relief by a court having jurisdiction in the
      premises in respect of Maker in an involuntary case under applicable bankruptcy
      law, or any other applicable insolvency or other similar law, or appointing
      a
      receiver, liquidator, assignee, custodian, trustee, sequestrator or similar
      official of Maker or for any substantial part of its property, or ordering
      the
      winding-up or liquidation of the affairs of Maker, and the continuance of any
      such decree or order unstayed and in effect for a period of 60 consecutive
      days.

     

    6.
       Remedies.

     

    (a)
       Upon
      the
      occurrence of an Event of Default specified in Section 5(a), Payee may, by
      written notice to Maker, declare this Note to be due and payable, whereupon
      the
      principal amount of this Note, and all other amounts payable hereunder, shall
      become immediately due and payable without presentment, demand, protest or
      other
      notice of any kind, all of which are hereby expressly waived, anything contained
      herein or in the documents evidencing the same to the contrary
      notwithstanding.

    


       
      (b)
 Upon
      the
      occurrence of an Event of Default specified in Sections 5(b) and 5(c), the
      unpaid principal balance of, and all other sums payable with regard to, this
      Note shall automatically and immediately become due and payable, in all cases
      without any action on the part of Payee.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    7.
       Waivers.
      Maker
      and all endorsers and guarantors of, and sureties for, this Note waive
      presentment for payment, demand, notice of dishonor, protest, and notice of
      protest with regard to this Note, all errors, defects and imperfections in
      any
      proceedings instituted by Payee under the terms of this Note, and all benefits
      that might accrue to Maker by virtue of any present or future laws exempting
      any
      property, real or personal, or any part of the proceeds arising from any sale
      of
      any such property, from attachment, levy or sale under execution, or providing
      for any stay of execution, exemption from civil process or extension of time
      for
      payment; and Maker agrees that any real estate that may be levied upon pursuant
      to a judgment obtained by virtue hereof, on any writ of execution issued hereon,
      may be sold upon any such writ in whole or in part in any order desired by
      Payee.

     

    8.
       Unconditional
      Liability.
      Maker
      hereby waives all notices in connection with the delivery, acceptance,
      performance, default or enforcement of the payment of this Note, and agrees
      that
      its liability shall be unconditional, without regard to the liability of any
      other party, and shall not be affected in any manner by any indulgence,
      extension of time, renewal, waiver or modification granted or consented to
      by
      Payee, and consents to any and all extensions of time, renewals, waivers or
      modifications that may be granted by Payee with respect to the payment or other
      provisions of this Note, and agrees that additional makers, endorsers,
      guarantors or sureties may become parties hereto without notice to them or
      affecting their liability hereunder.

     

    9.
       Notices.
      Any
      notice called for hereunder shall be deemed properly given if (i) sent by
      certified mail, return receipt requested, (ii) personally delivered, (iii)
      dispatched by any form of private or governmental express mail or delivery
      service providing receipted delivery, (iv) sent by telefacsimile, or (v) sent
      by
      e-mail, to the following addresses or to such other address as either party
      may
      designate by notice in accordance with this Section:

     

    If
      to
      Maker:

    


    Beverage
      Acquisition Corporation

    2670
      Commercial Avenue

    Mingo
      Junction, Ohio 43938

    Attention
      of Vice President and Treasurer

    Email
      Address: bgriffiths@bmchaas.com

     

    If
      to
      Payee:

    


    Rodman
      L.
      Drake

    128
      Kitchawan Road

    Pound
      Ridge, NY 10576

    Email
      Address: rdrake@Cipmgmt.com

    


    Notice
      shall be deemed given on the earlier of actual receipt by the receiving party,
      if sent by certified mail, and (i) three business days after certification
      thereof, (ii) if personally delivered, the date reflected on a signed delivery
      receipt, (iii) if sent by private or governmental express mail or delivery
      service, one (1) business day following tender of delivery or dispatch by
      express mail or delivery service, (iv) if by facsimile, the date shown on a
      telefacsimile transmission confirmation, or (v) if sent by email, the date
      on
      which an e-mail transmission was received by the receiving party's on-line
      access provider.

     

    
      
        
        

      

      
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    10.
       Construction.
      This
      Note shall be construed and enforced in accordance with the domestic, internal
      law, but not the law of conflict of laws, of the State of New York.

     

    11.
       Severability.
      Any
      provision contained in this Note which is prohibited or unenforceable in any
      jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
      such prohibition or unenforceability without invalidating the remaining
      provisions hereof, and any such prohibition or unenforceability in any
      jurisdiction shall not invalidate or render unenforceable such provision in
      any
      other jurisdiction.

     

    IN
      WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this
      Note to be duly executed the day and year first above written.

     

    
      	 	 	 
	 	BEVERAGE
              ACQUISITION CORPORATION
	 
 	 
 	 
 
	 	By:  	 
              /s/Barclay H.
              Griffiths                                  
              
	 	Barclay H. Griffiths
	 	Vice
              President and Treasurer 


    

    


    
      
        
        

      

      
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