Borrower shall, on
the earlier of (a) the maturity date or (b) if required by such law, regulation
or interpretation, on such date as shall be specified in such notice, either
prepay the Loan in full, or convert the Applicable LIBOR Rate to an alternative
interest rate as determined by Bank. Any such prepayment or conversion shall be
subject to the prepayment fees described in Sections 2.1 and 2.2 hereof.
IN WITNESS WHEREOF, Borrower and Bank have executed this Agreement by their
duly authorized members/officers as of the date first above written.
WARNING - BY SIGNING THIS PAPER, YOU GIVE UP YOUR RIGHT TO NOTICE AND COURT
TRIAL. IF YOU DO NOT PAY ON TIME, A COURT JUDGMENT MAY BE TAKEN AGAINST YOU
WITHOUT YOUR PRIOR KNOWLEDGE AND THE POWERS OF A COURT CAN BE USED TO COLLECT
FROM YOU REGARDLESS OF ANY CLAIMS YOU MAY HAVE AGAINST THE CREDITOR WHETHER FOR
RETURNED GOODS, FAULTY GOODS, FAILURE ON HIS PART TO COMPLY WITH THE AGREEMENT
OR ANY OTHER CAUSE.
NORTHEAST OHIO NATURAL GAS CORP.,
an Ohio corporation
By:
/s/ Thomas J. Smith
Thomas J. Smith,
President and
Chief Operating Officer
"Borrower"
CITIZENS BANK
By:
/s/ David Tholt
DavidTholt
Vice President
"Bank"
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EXHIBIT A
Revolving Note
[Attach form of note]
31
EXHIBIT B
Term Note
[Attach form of note]
32
EXHIBIT 3.16
Borrower's Locations
8500 Station Street, Mentor, Ohio 44060
33
EXHIBIT 4.3
Borrowing Base Certificate
[Attach form of BBC]
34