Exhibit 10.2


 


FOURTH AMENDED AND RESTATED REVOLVING
PROMISSORY NOTE


 


	U.S. $100,000,000	April 25, 2018


 


 


FOR VALUE
RECEIVED, AMERIS BANCORP, a Georgia corporation, having an address at 310 First Street, Moultrie, Georgia 31768 (“Maker”),
hereby promises to pay to the order of NEXBANK SSB (“Payee”), at its address at 2515 McKinney Avenue, Suite
1100, Dallas, Texas 75201 or such other address as it may designate, the principal sum of ONE HUNDRED MILLION and NO/100 Dollars
($100,000,000), or so much thereof as may be advanced by Payee from time to time hereunder to or for the benefit or account of
Maker, and interest from the date hereof on the balance of principal from time to time outstanding, in United States currency,
at the rates and at the times hereinafter described.


 


This Fourth
Amended and Restated Revolving Promissory Note (this “Note”) is issued by Maker pursuant to that certain Loan
Agreement, dated as of August 28, 2013 (as heretofore amended, as amended by that certain Fourth Amendment, dated as of the date
hereof, and as may be further amended restated or modified, the “Loan Agreement”) entered into between Payee
and Maker. This Note evidences the Loan (as defined in the Loan Agreement). Payment of this Note is governed by the Loan Agreement,
the terms of which are incorporated herein by express reference as if fully set forth herein. Capitalized terms used and not otherwise
defined herein shall have the meanings given to them in the Loan Agreement.


 


1.       Principal
and Interest.


 


(a)       The
maximum aggregate principal amount of this Note shall not exceed One Hundred Million Dollars ($100,000,000). All principal, interest
and other sums due under this Note shall be due and payable in full on the Maturity Date.


 


(b)       Subject
to Section 1(c) below, the unpaid principal amount of this Note shall bear interest at the Note Rate (the “Applicable
Rate”), unless the Default Rate is applicable. Interest at the Applicable Rate (or Default Rate) shall be calculated
for the actual number of days elapsed on the basis of a 360-day year, including the first date of the applicable period to, but
not including, the date of repayment. The Loan shall bear interest at the Default Rate at any time at which an Event of Default
shall exist.


 


(c)       All
accrued but unpaid interest on the principal balance of the Loan outstanding from time to time shall be payable on each Payment
Date. The then outstanding principal balance of the Loan and all accrued but unpaid interest thereon shall be due and payable on
the Maturity Date. Maker may from time to time during the term of the Loan Agreement borrow, partially or wholly repay its outstanding
borrowings, and reborrow, subject to all of the limitations, terms and conditions of the Loan Agreement; provided, however,
that the total outstanding borrowings under this Note shall not at any time exceed the Commitment. The unpaid principal balance
of the Loan at any time shall be the total amount advanced hereunder by Payee less the amount of principal payments made hereon
by or for Maker, which balance may be endorsed hereon from time to time by Payee or otherwise noted in Payee’s records, which
notations shall be, absent manifest error, conclusive evidence of the amounts owing hereunder from time to time. All payments (whether
of principal or of interest) shall be deemed credited to Maker’s account only if received by 2:00 p.m. Dallas time on a Business
Day; otherwise, such payment shall be deemed received on the next Business Day.


 






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2.       Maximum
Lawful Rate. It is the intent of Maker and Payee to conform to and contract in strict compliance with applicable usury
law from time to time in effect. In no way, nor in any event or contingency (including but not limited to prepayment, default,
demand for payment, or acceleration of the maturity of any obligation), shall the rate of interest taken, reserved, contacted for,
charged or received under this Note and the other Loan Documents exceed the highest lawful interest rate permitted under applicable
law. If Payee shall ever receive anything of value which is characterized as interest under applicable law and which would apart
from this provision be in excess of the highest lawful interest rate permitted under applicable law, an amount equal to the amount
which would have been excessive interest shall, without penalty, be applied to the reduction of the principal amount owing on the
Loan in the inverse order of its maturity and not to the payment of interest, or refunded to the Maker or the other payor thereof
if and to the extent such amount which would have been excessive exceeds such unpaid principal. All interest paid or agreed to
be paid to the holder hereof shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout
the full stated term (including any renewal or extension) of the Loan so that the amount of interest on account of such obligation
does not exceed the maximum permitted by applicable law. As used in this Section, the term "applicable law" shall
mean the laws of the State of Texas or the federal laws of the United States, whichever laws allow the greater interest, as such
laws now exist or may be changed or amended or come into effect in the future.


 


3.Monthly
Payments.All payments on account of the indebtedness evidenced by this Note shall be made to Payee not later than 2:00
p.m. Dallas, Texas time on the day when due in lawful money of the United States and shall be first applied to late charges, costs
of collection or enforcement and other similar amounts due, if any, under this Note and any of the other Loan Documents, then to
interest due and payable hereunder and the remainder to principal due and payable hereunder.


 


4.Maturity
Date.The indebtedness evidenced hereby shall mature on the Maturity Date, or as accelerated under the terms of the
Loan Agreement. On the Maturity Date, the entire outstanding principal balance hereof, together with accrued and unpaid interest
and all other sums evidenced by this Note, shall, if not sooner paid, become due and payable.


 


5.       General
Provisions.


 


(a)       In
the event (i) the principal balance hereof is not paid when due whether by acceleration or upon the Maturity Date or (ii) an Event
of Default exists, then the principal balance hereof shall bear interest from and after the Default Rate. In addition, for any
installment (exclusive of the payment due upon the Maturity Date) which is not paid by the tenth (10th) day following the due date
thereof a late charge equal to five percent (5%) of the amount of such installment shall be due and payable to the holder of this
Note on demand to cover the extra expense involved in handling delinquent payments.


 


(b)       Maker
agrees that the obligation evidenced by this Note is an exempt transaction under the Truth-in-Lending Act, 15 U.S.C. § 1601,
et seq.


 


(c)       This
Note and all provisions hereof shall be binding upon Maker and all persons claiming under or through Maker, and shall inure to
the benefit of Payee, together with its successors and assigns, including each owner and holder from time to time of this Note.


 






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(d)       Time is
of the essence as to all dates set forth herein.


 


(e)       To
the fullest extent permitted by applicable law, Maker agrees that its liability shall not be in any manner affected by any indulgence,
extension of time, renewal, waiver, or modification granted or consented to by Payee; and Maker consents to any indulgences 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 to any substitution, exchange or release of the collateral, or any part thereof, with or without substitution,
and agrees to the addition or release of any makers, endorsers, guarantors, or sureties, all whether primarily or secondarily liable,
without notice to Maker and without affecting its liability hereunder.


 


(f)       To
the fullest extent permitted by applicable Law, Maker hereby waives and renounces for itself, its successors and assigns, all rights
to the benefits of any statute of limitations and any moratorium, reinstatement, marshaling, forbearance, valuation, stay, extension,
redemption, appraisement, or exemption and homestead laws now provided, or which may hereafter be provided, by the laws of the
United States and of any state thereof against the enforcement and collection of the obligations evidenced by this Note.


 


(g)       If
this Note is placed in the hands of attorneys for collection or is collected through any legal proceedings, Maker promises and
agrees to pay, in addition to the principal, interest and other sums due and payable hereon, all costs of collecting or attempting
to collect this Note, including all reasonable attorneys’ fees and disbursements.


 


(h)       To
the fullest extent permitted by applicable law, all parties now or hereafter liable with respect to this Note, whether Maker, principal,
surety, guarantor, endorsee or otherwise hereby severally waive presentment for payment, demand, notice of nonpayment or dishonor,
protest and notice of protest. No failure to accelerate the indebtedness evidenced hereby, acceptance of a past due installment
following the expiration of any cure period provided by this Note, any Loan Document or applicable law, or indulgences granted
from time to time shall be construed (i) as a novation of this Note or as a reinstatement of the indebtedness evidenced hereby
or as a waiver of such right of acceleration or of the right of Payee thereafter to insist upon strict compliance with the terms
of this Note, or (ii) to prevent the exercise of such right of acceleration or any other right granted hereunder or by the laws
of the State. Maker hereby expressly waives the benefit of any statute or rule of law or equity now provided, or which may hereafter
be provided, which would produce a result contrary to or in conflict with the foregoing.


 


(i)       THIS
NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS AND ANY APPLICABLE LAWS OF THE UNITED
STATES OF AMERICA.


 




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(j)       THIS
NOTE AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.


 


This Note is an amendment,
restatement, modification and continuation of the obligations outstanding under that certain Third Amended and Restated Revolving
Promissory Note, dated September 26, 2017, made by Maker payable to the order of Payee in the original principal amount of $30,000,000
(the “Prior Note”). This Note is given in renewal, rearrangement and substitution for, but not in the extinguishment
or repayment of, the obligations outstanding under the Prior Note. This Note does not constitute a novation.


 


 


[Signature page follows.]


 




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Maker has delivered this Note as of the day and year
first set forth above.


  


	 	MAKER:
	 	 	 
	 	 	 
	 	AMERIS BANCORP
	 	 	 
	 	By:	/s/ Dennis J. Zember Jr.
	 	Name:   	Dennis J. Zember Jr.
	 	Title:   	EVP and Chief Operating Officer


 


 





[Signature
Page to Fourth Amended and Restated Revolving Promissory Note]







 






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