Equipment Security Note Number 17608-70001



 Exhibit 10.2 
  
 

 
  

			
	 Banc of America Leasing & Capital, LLC
	 	Equipment Security Note Number 17608-70001


 This Equipment Security Note
No. 17608-70001, dated as of July 20, 2007 (this “Equipment Note”), is entered into pursuant to and incorporates by this reference all of the terms and provisions of that certain Master Loan and Security Agreement
No. 17608-70000 dated as of July 20, 2007 (the “Master Agreement”), by and between Banc of America Leasing & Capital, LLC (“Lender”) and Casual Male Retail Group, Inc.
(“Borrower”). All capitalized terms used herein and not defined herein shall have the respective meanings assigned to such terms in the Master Agreement. If any provision of this Equipment Note conflicts with any provision of the
Master Agreement, the provisions contained in this Equipment Note shall prevail. Borrower hereby authorizes Lender to insert the serial numbers and other identification data of the Equipment, dates, and other omitted factual matters or descriptions
in this Equipment Note. 
 The occurrence of an “Event of Default,” as defined in the Master Agreement, shall entitle Lender
to accelerate the maturity of this Equipment Note and to declare the Prepayment Amount to be immediately due and payable, and to proceed at once to exercise each and every one of the remedies provided in the Master Agreement or otherwise available
at law or in equity. All of Borrower’s Obligations under this Equipment Note are absolute and unconditional, and shall not be subject to any offset or deduction whatsoever. Borrower waives any right to assert, by way of counterclaim or
affirmative defense in any action to enforce Borrower’s Obligations hereunder, any claim whatsoever against Lender. 
 1. Equipment
Financed; Equipment Location; Grant of Security Interest. Subject to the terms and provisions of the Master Agreement and as provided herein, Lender is providing financing in the principal amount described in Section 2 below to Borrower in
connection with the acquisition or financing of the following described Equipment: 
  

							
	Quantity	  	 Description
	  	 Serial Number
	  	 Cost

		  		  	See Exhibit A attached hereto	  	

 Location of Equipment. The Equipment will be located or (in the case of over-the-road
vehicles) based at the following locations: 
  

											
	Location	  	 Address
	  	 City
	  	 County
	  	 State
	  	 ZIP

		  		  		  	See Exhibit B attached hereto	  	

 Borrower has agreed and does hereby grant a security interest in and to the Equipment and the Collateral related
thereto, whether now owned or hereafter acquired and wherever located, in order to secure the payment and performance of all Obligations owing to Lender, including but not limited to this Equipment Note, all as more particularly provided in the
Master Agreement. Lender’s agreement to provide the financing contemplated herein shall be subject to the satisfaction of all conditions established by Lender and Lender’s prior receipt of all required documentation in form and substance
satisfactory to Lender in its sole discretion. 
 2. Payments. For value received, Borrower promises to pay to the order of Lender,
the principal amount of $17,375,631.94, together with interest thereon as provided herein. This Equipment Note shall be payable by Borrower to Lender in 48 consecutive monthly, installments of principal and interest (the “Payments”)
commencing on August 20, 2007 (the “Initial Payment”) and continuing thereafter through and including July 20, 2011 (the “Maturity Date”) (collectively, the “Equipment Note Term”). Each
Payment shall be in the amount provided below, and due and payable on the same day of the month as the Initial Payment set forth above in each succeeding payment period (each, a “Payment Date”) during Equipment Note Term. All
interest hereunder shall be calculated on the basis of a year of 360 days comprised of 12 months of 30 days each. The final Payment due and payable on the Maturity Date shall in any event be equal to the entire outstanding and unpaid principal
amount of this Equipment Note, together with all accrued and unpaid interest, charges and other amounts owing hereunder and under the Master Agreement. 
 (a)    Interest Rate. 
 Interest shall accrue on the entire principal amount of this Equipment Note outstanding for any calendar month or portion thereof, at a per annum rate of interest equal to (i) one and  75/100 percent (1.75%) plus the rate of interest equal to the “average of interbank offered rates for dollar deposits in the London Market based on
quotations of sixteen (16) major banks” for a term of 30 days as published in the Wall Street Journal under a heading entitled “Money Rates, London Interbank Offered Rates (LIBOR)” or any future or substitute heading, on the
fifteenth day of the month preceding the Payment Date for the applicable Payment, or (ii) if less, the highest rate of interest permitted by applicable law (the “Interest Rate”). 
  

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 (b)    Payment Amount. 
 The amount of each Payment shall consist of $361,992.33 of principal, plus all interest accrued at the Interest Rate. 
 3. Prepayment The outstanding principal balance of this Equipment Note may be prepaid in whole or part at any time, together with interest and
late charges accrued through the date of the prepayment, provided that such prepayment shall be accompanied by a prepayment charge calculated as follows: one percent (1%) of the amount of the prepaid if such prepayment occurs during the period
from the date of this Equipment Note to the first anniversary hereof; one-half percent (0.5%) of the amount prepaid if such prepayment occurs during the period commencing on the first day after the first anniversary hereof and continuing through the
second anniversary hereof; and no prepayment charge if such prepayment occurs thereafter. Partial prepayments shall be applied against principal installments in their inverse order of maturity. A prepayment charge will not be due if this Equipment
Note is refinanced with the Lender. 
 4. Borrower Acknowledgements. Upon delivery and acceptance of the Equipment, Borrower shall
execute this Equipment Note evidencing the amounts financed by Lender in respect of such Equipment and the Payments of principal and interest hereunder. By its execution and delivery of this Equipment Note, Borrower: 
  

	 	(a)	reaffirms of all of Borrower’s representations, warranties and covenants as set forth in the Master Agreement and represents and warrants that no Default or Event of Default
under the Master Agreement exists as of the date hereof; 

  

	 	(b)	represents, warrants and agrees that: (i) the Equipment has been delivered and is in an operating condition and performing the operation for which it is intended to the
satisfaction of Borrower; (ii) each item of Equipment has been unconditionally accepted by Borrower for all purposes under the Master Agreement and this Equipment Note; and (iii) there has been no material adverse change in the operations,
business, properties or condition, financial or otherwise, of Borrower since May 5, 2007; 

  

	 	(c)	authorizes and directs Lender to advance the principal amount of this Equipment Note to reimburse Borrower or pay Vendors all or a portion of the purchase price of Equipment in
accordance with Vendors’ invoices therefor, receipt and approval of which are hereby reaffirmed by Borrower; and 

  

	 	(d)	agrees that Borrower is absolutely and unconditionally obligated to pay Lender all Payments at the times and in the manner set forth herein. 

  

									
	BANC OF AMERICA LEASING & CAPITAL, LLC	 		 	Borrower: CASUAL MALE RETAIL GROUP, INC.
					
	By:	 	/S/    DAVID R.
COURNOYER        	 		 	By:	 	/S/    DENNIS R.
HERNREICH        
	 Printed Name:
 Title:
	 	 David R. Cournoyer
 Senior Vice President
	 		 	 Printed Name:
 Title:
	 	 Dennis R. Hernreich
 Executive Vice President, Chief Financial Officer,
 Chief Operating Officer and
Treasurer


  

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