Document:

Loan Agreement dated September 22, 2004

 Exhibit 10.42 
 LOAN AGREEMENT 
 dated September 22, 2004 
 by and between 
 BANK ONE, NA
(“Lender”) 
 and 
 PLAINS CAPITAL CORPORATION (“Borrower”) 

							
	 ARTICLE 1 — DEFINITIONS AND USE OF TERMS
	  	1
				
		 	Section 1.1	 	Terms Defined Above	  	1
				
		 	Section 1.2	 	Certain Definitions	  	1
		
	 ARTICLE 2 — THE LOAN
	  	3
				
		 	Section 2.1	 	Commitment to Lend	  	3
				
		 	Section 2.2	 	The Note	  	3
				
		 	Section 2.3	 	Conditions to Closing and Funding	  	3
				
		 	Section 2.4	 	Use of Proceeds	  	3
				
		 	Section 2.5	 	Conditions Precedent for the Benefit of Lender	  	4
				
		 	Section 2.6	 	Pledged Security for Obligations	  	4
		
	 ARTICLE 3 — REPRESENTATIONS AND WARRANTIES OF BORROWER
	  	4
				
		 	Section 3.1	 	Financial Statements	  	4
				
		 	Section 3.2	 	Suits, Actions, Etc	  	4
				
		 	Section 3.3	 	Status of Borrower; Valid and Binding Obligation	  	4
				
		 	Section 3.4	 	Disclosure	  	5
				
		 	Section 3.5	 	Taxes	  	5
				
		 	Section 3.6	 	Violations	  	5
				
		 	Section 3.7	 	Not a Foreign Person	  	5
				
		 	Section 3.8	 	Ownership of Banking Subsidiaries	  	5
				
		 	Section 3.9	 	Stock Agreements	  	5
				
		 	Section 3.10	 	Approvals	  	5
				
		 	Section 3.11	 	Contracts	  	5
				
		 	Section 3.12	 	Inducement to Lender	  	5
		
	 ARTICLE 4 — COVENANTS AND AGREEMENTS OF BORROWER
	  	6
				
		 	Section 4.1	 	Compliance with Governmental Requirements	  	6
				
		 	Section 4.2	 	Insurance	  	6
				
		 	Section 4.3	 	Notice to Lender	  	6
				
		 	Section 4.4	 	Costs and Expenses	  	6
				
		 	Section 4.5	 	Further Assurances	  	6
				
		 	Section 4.6	 	Defense of Actions	  	6
				
		 	Section 4.7	 	Prohibition on Assignment of Borrower’s Interest	  	6
				
		 	Section 4.8	 	Current Financial Statements	  	7
				
		 	Section 4.9	 	Loan Participation	  	7
				
		 	Section 4.10	 	Indemnification	  	8

  

 -ii- 

							
	ARTICLE 5 — DEFAULT AND REMEDIES	  	8
				
		 	Section 5.1	 	Events of Default	  	8
				
		 	Section 5.2	 	Certain Remedies	  	10
				
		 	Section 5.3	 	Performance by Lender on Borrower’s Behalf	  	11
				
		 	Section 5.4	 	Remedies Cumulative	  	11
		
	 ARTICLE 6 — GENERAL TERMS AND CONDITIONS
	  	11
				
		 	Section 6.1	 	Notices	  	11
				
		 	Section 6.2	 	Modifications	  	11
				
		 	Section 6.3	 	Severability	  	11
				
		 	Section 6.4	 	Election of Remedies	  	12
				
		 	Section 6.5	 	Form and Substance	  	12
				
		 	Section 6.6	 	Controlling Agreement	  	12
				
		 	Section 6.7	 	No Third Party Beneficiary	  	12
				
		 	Section 6.8	 	Borrower in Control	  	12
				
		 	Section 6.9	 	Number and Gender	  	12
				
		 	Section 6.10	 	Captions	  	12
				
		 	Section 6.11	 	Applicable Law	  	12
				
		 	Section 6.12	 	Relationship of the Parties	  	13
				
		 	Section 6.13	 	WAIVER OF JURY TRIAL	  	13
				
		 	Section 6.14	 	Consent to Jurisdiction	  	13
				
		 	Section 6.15	 	Negotiation	  	14
				
		 	Section 6.16	 	Conflicting Terms	  	14
				
		 	Section 6.17	 	Entire Agreement	  	14
		
	 Exhibits
	  	
		
	Exhibit “A” - Conditions to Closing and Funding	  	

  

 -iii- 

 LOAN AGREEMENT 
 This LOAN AGREEMENT, dated             , 2004, is made by and between BANK ONE,
NA, a national banking association (“Lender”), and PLAINS CAPITAL CORPORATION, a Texas corporation (“Borrower”), in respect of a loan in the maximum principal amount of Six Million and No/100
Dollars ($6,000,000.00). For good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follows: 
 ARTICLE 1 — DEFINITIONS AND USE OF TERMS 
 Section 1.1 Terms Defined Above. As
used in this Agreement, the terms “Lender” and “Borrower” shall have the meanings respectively indicated in the opening recital hereof. 
 Section 1.2 Certain Definitions. As used in this Agreement, the following terms shall have the following meanings, unless the context otherwise requires. 
 “Advance” means the disbursement by Lender of the Loan. 
 “Agreement” means this Loan Agreement, as from time to time amended or supplemented. 
 “Bank” or “PCB” means PlainsCapital Bank, a Texas state bank, whose principal place of business is 5010 University, Lubbock, Texas 79413. 
 “Banking Subsidiary” means any bank (whether state or national) more than fifty percent (50%) of whose capital stock now or
hereafter is owned directly or indirectly by Borrower or any Banking Subsidiary or may be voted by Borrower or any Banking Subsidiary. At the date of this Agreement, the only Banking Subsidiary of Borrower is Bank. 
 “Business Day” means a day other than a Saturday, Sunday or other day on which national banks in Fort Worth, Texas, are authorized or
required to be closed. 
 “Collateral” means all presently owned and hereafter acquired property of any Person that secures
the Obligations, including, without limitation, the property described in Section 2.6. 
 “Collateral Assignment of
Note” means the Collateral Assignment of Note of even date herewith made by Borrower to Lender, and all renewals, amendments and replacements thereof. 
 “Debtor Relief Laws” means any applicable liquidation, conservatorship, bankruptcy, moratorium, rearrangement, insolvency, reorganization, or similar laws, domestic or foreign, including but not
limited to those in Title 11 of the United States Code, affecting the rights or remedies of creditors generally, as in effect from time to time. 
 “ESOP” means the Employee Stock Ownership Plan of Borrower. 
 “Event of Default” shall have the
meaning specified in Section 5.1. 
 “Financial Statements” means such balance sheets (including disclosure of
all contingent liabilities), profit and loss statements, reconciliations of capital and surplus, changes in financial condition, schedules of sources and uses of funds, statements of cash flow, operations and shareholder equity, pro forma schedules
of sources and uses of funds for ensuing twelve-month periods, and other financial information of Borrower as shall be required by Lender, from time to time, or as required under 

  

 LOAN AGREEMENT – Page 1 

 
any Loan Document, which statements shall be certified as true and correct in all material respects by the party submitting such statements or, if required
by Lender or under any Loan Document, such statements of Borrower shall be audited and/or certified by an independent certified public accountant. 
 “Financing Statements” means the financing statements perfecting the security interests securing the Loan, to be filed with the appropriate offices for the perfection of a security interest in any of the Collateral.

 “Governmental Authority” means the United States, the state, the county, the city, or any other political subdivision in
which Borrower or any Banking Subsidiary is located, and any court or political subdivision, agency, or instrumentality having or exercising jurisdiction over Borrower or any Banking Subsidiary. 
 “Governmental Requirements” means all material laws, ordinances, codes, rules, regulations, orders, writs, injunctions or decrees of any
Governmental Authority applicable to Borrower or the Collateral. 
 “Indebtedness” means any and all obligations and
liabilities of Borrower to Lender for borrowed money, whether now existing or hereafter arising, direct or indirect, joint or several, secured or unsecured. 
 “Indemnified Matters” means: 
 (a) any and all claims, demands, liabilities
(including strict liability), losses, damages (including consequential damages), causes of action, judgments, penalties, fines, costs and expenses (including without limitation, reasonable fees and expenses of attorneys and other professional
consultants and experts, and of the investigation and defense of any claim, whether or not such claim is ultimately defeated, and the settlement of any claim or judgment including all value paid or given in settlement) of every kind, known or
unknown, foreseeable or unforeseeable, which may be imposed upon, asserted against or incurred or paid by Lender or any other Indemnified Party at any time and from time to time, whenever imposed, asserted or incurred, because of, resulting from, in
connection with, or arising out of any transaction, act, omission, event or circumstance in any way connected with this Agreement or any other Loan Document, including, without limitation, (1) disbursement of the Loan proceeds, (2) any act
performed or omitted to be performed hereunder or under any other Loan Document, and (3) any Default or event which with the lapse of time, the providing of notice or both would constitute a Default. 
 “Indemnified Party” has the meaning set forth in Section 4.10. 
 “Loan” means the loan by Lender to Borrower in the original principal amount of $6,000,000.00. 
 “Loan Documents” means this Agreement, the Security Agreement, the Note, the Collateral Assignment of Note, the Financing Statements,
and such other documents evidencing, securing or pertaining to the Loan as shall, from time to time, be executed and delivered to Lender by Borrower or any other party pursuant to this Agreement. 
 “Maturity Date” means the date on which the Note matures, whether by acceleration, lapse of time or otherwise; provided, that such date
shall be the September 1, 2009, unless earlier accelerated as permitted herein or in any other Loan Document. 
  

 LOAN AGREEMENT – Page 2 

 “Note” means the Promissory Note of even date herewith made by Borrower payable to the
order of Lender in the principal amount of and evidencing the Loan, and all renewals, amendments and replacements thereof. 
 “Obligations” means the outstanding principal amounts of the Note and interest accrued thereon, and any and all other indebtedness, liabilities and obligations whatsoever of Borrower to Lender hereunder or under the Note,
or otherwise, whether direct or indirect, absolute or contingent, due or to become due, and whether now existing or hereafter arising, and howsoever evidenced or acquired, whether joint or several, and whether evidenced by note, draft, acceptance,
guaranty, open account, letter of credit, surety agreement or otherwise, it being contemplated by the parties hereto that Borrower may become indebted to Lender in further sum or sums, plus interest accruing on any foregoing and all attorney fees
and costs incurred in the enforcement of any of the foregoing; but nothing herein shall obligate Lender to lend any further sum or sums to Borrower. 
 “Person” means any individual, firm, corporation, association, partnership, joint venture, trust, governmental body or other entity. 
 “Pledged Stock” means the capital stock of Bank pledged or to be pledged to Lender pursuant to Section 2.6 of this Agreement
and the Security Agreement, constituting 100% of the capital stock of Bank. 
 “Security Agreement” means the Pledge and
Security Agreement of even date herewith made by Borrower in favor of Lender, and all renewals, amendments and replacements thereof. 
 ARTICLE 2 — THE LOAN 
 Section 2.1 Commitment to Lend. Subject to and upon the terms, covenants and
conditions of this Agreement, Lender will make the Loan to Borrower in accordance with this Agreement in an aggregate amount not to exceed the principal face amount of the Note. The Loan is not revolving; an amount repaid may not be reborrowed.

 Section 2.2 The Note. The Loan is and shall be evidenced by the Note. Interest on the Loan, at the rate or rates specified in the
Note, shall be (a) computed on the unpaid principal balance which exists from time to time, and (b) due and payable semi-annually as it accrues as more particularly set forth in the Note. Principal payments shall be made as provided in the
Note. In any case and notwithstanding anything to the contrary, on the Maturity Date, all outstanding principal under the Note, plus all accrued but unpaid interest shall be due and payable in full. 
 Section 2.3 Conditions to Closing and Funding. The Loan shall be funded in one lump sum Advance at closing on or about the date of this Agreement.
As conditions precedent to closing as well as to such Advance: (a) there shall then exist no default nor shall there have occurred any event which with the giving of notice or the lapse of time, or both, could become a default; (b) the
representations and warranties made in the Loan Documents shall be true and correct on and as of the date of the Advance, with the same effect as if made on that date; and (c) Borrower must satisfy the conditions required hereby and execute and
deliver to, procure for and deposit with, and pay to Lender and, if appropriate, record in the proper records with all filing and recording fees paid, the documents, certificates, agreements and other items listed in Exhibit “A”
that are noted by “(X)”, together with such other documents, certificates, agreements and other items as Lender may reasonably require. 
 Section 2.4 Use of Proceeds. The proceeds of the Loan shall be used to immediately make a loan to ESOP, which loan shall be evidenced by a promissory note executed by ESOP in favor of 

  

 LOAN AGREEMENT – Page 3 

 
Borrower and collaterally assigned to Lender pursuant to the Collateral Assignment of Note. ESOP shall then promptly use the proceeds of such loan to
purchase newly issued shares from Borrower. Borrower shall then contribute the proceeds from the sale of such shares as additional capital of Bank or to prepay any other indebtedness of Borrower to Bank. The proceeds of the Loan shall be used for no
other purpose than as stated in this Section. 
 Section 2.5 Conditions Precedent for the Benefit of Lender. All conditions precedent
to the obligation of Lender to make the Loan are imposed hereby solely for the benefit of Lender, and no other party may require satisfaction of any such condition precedent or be entitled to assume that Lender will refuse to make the Loan in the
absence of strict compliance with such conditions precedent. All requirements of this Loan Agreement may be waived by Lender only in writing, in whole or in part, at any time. 
 Section 2.6 Pledged Security for Obligations. To secure full and complete payment and performance of the Obligations, Borrower shall grant or
cause to be granted a security interest in favor of Lender the Pledged Stock. 
 ARTICLE 3 — REPRESENTATIONS AND WARRANTIES OF
BORROWER 
 To induce Lender to make the Loan, Borrower hereby represents and warrants to Lender (which representations and
warranties will survive the execution and delivery of the Note) that: 
 Section 3.1 Financial Statements. The Financial Statements
provided by Borrower to Lender for the periods ended June 30, 2004, are true, correct, and complete in all material respects as of the dates specified therein and fully and accurately present the financial condition of Borrower or any Banking
Subsidiary, as applicable, as of the dates specified. No material adverse change has occurred in the condition, financial or otherwise, of Borrower or any Banking Subsidiary since the dates of such Financial Statements. Borrower and each Banking
Subsidiary is solvent after giving effect to all borrowings contemplated in this Agreement. 
 Section 3.2 Suits, Actions, Etc. Except
as disclosed in writing to Lender prior to the date of this Agreement, there are no actions, suits, investigations or proceedings pending, or, to the knowledge of Borrower, threatened in any court or before or by any Governmental Authority against
or affecting Borrower or any Banking Subsidiary, which if adversely determined would have a material adverse effect on Borrower or its ability to pay the Indebtedness or involving the validity, enforceability, or priority of any of the Loan
Documents, at law or in equity. The consummation of the transactions contemplated hereby, and the performance of the terms and conditions hereof and of the other Loan Documents, will not cause Borrower to be in violation of or in default with
respect to any Governmental Requirement, or result in a breach of, or constitute a default under any note, lease, contract, deed of trust, agreement or other undertaking or restriction to which Borrower is a party or by which Borrower may be bound
or affected. Neither Borrower nor any Banking Subsidiary is in default under the terms of any order of any court or any requirement of any Governmental Authority or under the terms of any indebtedness or obligation. 
 Section 3.3 Status of Borrower; Valid and Binding Obligation. Borrower is (a) a corporation, duly organized, validly existing and in good
standing under the laws of the state of its organization and (b) possessed of all power and authority necessary to enter into and perform Borrower’s obligations under the Loan Documents and to make the borrowing contemplated hereby. All of
the Loan Documents, and all other documents referred to herein to which Borrower is a party, upon execution and delivery will constitute legal, valid and binding obligations of Borrower enforceable against Borrower in accordance with their terms,
except as the enforcement thereof may be limited by Debtor Relief Laws. 
  

 LOAN AGREEMENT – Page 4 

 Section 3.4 Disclosure. There is no fact known to Borrower that Borrower has not disclosed to
Lender in writing or otherwise disclosed in the Financial Statements that is reasonably expected to materially adversely affect the business or financial condition of Borrower or any Banking Subsidiary, not including facts or conditions generally
affecting the economy or the financial services industry generally. 
 Section 3.5 Taxes. Borrower and each Banking Subsidiary has
filed all necessary tax returns and reports and has paid all taxes and governmental charges thereby shown to be owing except any such taxes or charges that are being contested in good faith by appropriate proceedings which have been disclosed to
Lender in writing prior to the date of this Agreement and for which adequate reserves have been set aside on Borrower’s or such Banking Subsidiary’s books in accordance with generally accepted accounting principles. 
 Section 3.6 Violations. Borrower has no knowledge of and has received no notices of any violations of any Governmental Requirement that would have
a material adverse effect on the business of Borrower. 
 Section 3.7 Not a Foreign Person. Borrower is not a “foreign
person” within the meaning of the Internal Revenue Code of 1986, as amended (“IRC”), Sections 1445 and 7701 (i.e. Borrower is not a non-resident alien, foreign corporation, foreign partnership, foreign trust or foreign
estate as those terms are defined in the IRC and any regulations promulgated thereunder). 
 Section 3.8 Ownership of Banking
Subsidiaries. Borrower owns, and on the closing date hereof and at all times thereafter will own, not less than 100% of the capital stock of Bank. 
 Section 3.9 Stock Agreements. Borrower has furnished to Lender copies of all buy-sell agreements, stock redemption agreements, shareholder agreements, voting trust agreements and all other agreements and
contracts involving the stock of any Banking Subsidiary; and there are not now any agreements or terms of any agreements to which Borrower is a party which alter, impair, affect or abrogate the rights of Lender or the Obligations of Borrower under
this Agreement or any other Loan Document. 
 Section 3.10 Approvals. No authorization, approval, or consent of, and no filing or
registration with, any court, governmental authority, or third party is or will be necessary for the execution, delivery, or performance by Borrower of this Agreement and the other Loan Documents to which Borrower is or may become a party or the
validity or enforceability thereof. 
 Section 3.11 Contracts. To the best of Borrower’s knowledge, neither Borrower nor any
Banking Subsidiary is a party to, or bound by, any agreement, condition, contract, or arrangement which is reasonably expected in the future to have a material adverse effect on the business, operations or financial condition of Borrower or any
Banking Subsidiary. 
 Section 3.12 Inducement to Lender. The representations and warranties contained in the Loan Documents are made
by Borrower as an inducement to Lender to make the Loan. Borrower understands that Lender is relying on such representations and warranties and that such representations and warranties shall survive any (a) bankruptcy proceedings involving
Borrower, or (b) foreclosure of the Security Agreement. 
  

 LOAN AGREEMENT – Page 5 

 ARTICLE 4 — COVENANTS AND AGREEMENTS OF BORROWER 
 While any part of the Obligations remains unpaid and unless otherwise waived in writing by Lender, Borrower hereby covenants and agrees as follows:

 Section 4.1 Compliance with Governmental Requirements. Borrower and each Banking Subsidiary shall timely comply with all
Governmental Requirements and, upon Lender’s request, promptly deliver to Lender evidence thereof. Immediately upon Borrower’s or any Banking Subsidiary’s receipt of any notice from a Governmental Authority of noncompliance with any
Governmental Requirements which could reasonably be anticipated to have a material adverse effect on Borrower or the Collateral, Borrower or such Banking Subsidiary shall provide Lender with written notice thereof unless prohibited by such notice or
by applicable law. 
 Section 4.2 Insurance. Borrower shall maintain or cause to be maintained in force insurance coverage reasonable
in coverage and scope for Borrower’s activities or as otherwise required by Lender and shall furnish to Lender upon request at reasonable intervals a certificate or certificates from the respective insurer(s) setting forth the nature and extent
of all insurance maintained by Borrower in accordance with the Loan Documents. 
 Section 4.3 Notice to Lender. Borrower shall
promptly notify Lender in writing of any of the following occurrences or events as the same become known to Borrower, specifying in each case the action Borrower has taken or caused to be taken, or proposes to take or cause to be taken, with respect
thereto: (a) the occurrence of any Event of Default or any event which with the giving of notice or the lapse of time, or both, could become a material Event of Default; (b) any default by Borrower under any Governmental Requirement which
would likely have a material adverse effect on the business of Borrower; (c) any material adverse change in the condition, financial or otherwise, of Borrower; (d) the occurrence of any material litigation, arbitration or governmental
investigation or proceeding not previously disclosed by Borrower to Lender which has been instituted or (to the knowledge of Borrower) is threatened against Borrower or any Banking Subsidiary; and (e) any notice received by Borrower with
respect to the cancellation, material adverse alteration or non-renewal of any insurance coverage maintained or required to be maintained by Borrower. 
 Section 4.4 Costs and Expenses. Borrower shall pay when due all costs and expenses required by this Agreement, including, without limitation, (a) all reasonable fees and expenses of counsel to Lender in
connection with the negotiation, preparation, amendment, enforcement or defense of the Loan Documents or the making of the Advance; (b) all premiums for insurance; and (c) all other reasonable costs and expenses payable to third parties
incurred by Lender in connection with the investigation, consummation, enforcement or defense of the transactions contemplated by this Agreement. 
 Section 4.5 Further Assurances. Borrower shall execute and deliver to Lender, from time to time as requested by Lender, such other documents, agreements, certificates, affidavits, and other instruments as shall be reasonably
necessary to provide the rights and remedies to Lender granted or provided for by the Loan Documents. 
 Section 4.6 Defense of
Actions. Lender may (but shall not be obligated to) commence, appear in, or defend any action or proceeding purporting to affect the Loan or the respective rights and obligations of Lender and Borrower pursuant to this Agreement. Lender may (but
shall not be obligated to) pay all necessary expenses, including reasonable attorneys’ fees and expenses incurred in connection with such proceedings or actions, which Borrower agrees to repay to Lender on demand. 
 Section 4.7 Prohibition on Assignment of Borrower’s Interest. Borrower shall not assign or encumber any interest of Borrower under this
Agreement without the prior written consent of Lender. 
  

 LOAN AGREEMENT – Page 6 

 Section 4.8 Current Financial Statements. Without limitation of any requirements of the Loan
Documents, Borrower shall deliver to Lender: 
 (a) Quarterly Reports. As soon as available, but no more than
forty-five (45) days after the end of each calendar quarter and with regard to such calendar quarter, copies of: 
 (1)
all Federal Financial Institutions Examination Council (the “FFIEC”) Consolidated Reports of Condition and Income (commonly known as Call Reports) furnished by any Banking Subsidiary to the appropriate regulatory authorities;

 (2) each Banking Subsidiary’s report of risk-based capital adequacy, as submitted to such Banking Subsidiary’s
Board of Directors; and 
 (3) a summary report of the totals, by category, of all assets of each Banking Subsidiary that are
classified, in whole or in part, as “Other Assets Especially Mentioned”, “Substandard”, “Doubtful”, and “Loss,” and a listing of Other Real Estate and Foreclosed Assets; and upon the request of Lender, a
detailed listing of such assets. 
 (b) Financial Reports. As soon as practicable and in any event within forty-five
(45) days after the last day of each calendar quarter, the balance sheet of Borrower, each Banking Subsidiary and of each other significant subsidiary or affiliate of Borrower as at such date, and the related statements of income and retained
earnings for the elapsed portion of the fiscal year of Borrower, each Banking Subsidiary and of each other significant subsidiary or affiliate of, as the case may be, ended with the last day of such calendar quarter, all in reasonable detail,
prepared in conformity with generally accepted accounting principles (subject to routine audit and normal year-end adjustments), and certified by the president or principal financial officer of Borrower, each Banking Subsidiary and of each other
significant subsidiary or affiliate of Borrower, as the case may be. 
 (c) FRY-9 Reports. As soon as available, but no
more than forty-five (45) days after each June 30 and each December 31 of each calendar year, the Parent Company Only Financial Statements for Bank Holding Companies (FRY-9LP) report for Borrower, as submitted to the Federal Reserve
Bank of Dallas, prepared on an unconsolidated basis (Borrower only), and as soon as available, but no more than forty-five (45) days after the end of each calendar quarter, the Consolidated Financial Statements for Bank Holding Companies
(FRY-9C) report for Borrower, as submitted to the Federal Reserve Bank of Dallas, prepared on a consolidated basis. 
 (d)
Annual Audit of Borrower. As soon as available, but no more than one hundred twenty (120) days after the end of each fiscal year: (i) copies of audited balance sheets, statements of income and retained earnings and statement of cash
flows of Borrower, setting forth on a consolidated basis, in comparative form, figures for the previous calendar year, all in reasonable detail; (ii) an opinion by an independent certified public accountant selected by Borrower and acceptable
to Lender, which opinion shall state that said financial statements have been prepared in accordance with GAAP and that such accountant’s audit of such financial statements has been made in accordance with generally accepted auditing standards
and that said financial statements present fairly the financial condition of Borrower and the results of its operations; and (iii) any management letter submitted to Borrower by such independent certified public accountant. 
 (e) from time to time, as Lender may request, additional Financial Statements of Borrower. 
 Section 4.9 Loan Participation. Borrower acknowledges and agrees that Lender may, from time to time, sell or offer to sell interests in the Loan
to one or more participants. Borrower authorizes Lender to disseminate any information it has pertaining to the Loan, including, without limitation, credit information on Borrower or any of its principals, to any such participant or prospective
participant. 
  

 LOAN AGREEMENT – Page 7 

 Section 4.10 Indemnification. BORROWER SHALL INDEMNIFY AND HOLD HARMLESS (A) LENDER,
(B) ANY AFFILIATE OF LENDER, (C) ANY PARTICIPANTS IN THE LOAN, (D) THE DIRECTORS, OFFICERS, PARTNERS, EMPLOYEES AND AGENTS OF LENDER AND/OR SUCH PERSONS OR ENTITIES, AND (E) THE HEIRS, PERSONAL REPRESENTATIVES, SUCCESSORS AND
ASSIGNS OF EACH OF THE FOREGOING PERSONS OR ENTITIES IN THEIR CAPACITIES AS SUCH (EACH AN “INDEMNIFIED PARTY”) FROM AND AGAINST, AND REIMBURSE THEM ON DEMAND FOR, ANY AND ALL INDEMNIFIED MATTERS. WITHOUT LIMITATION, THE FOREGOING
INDEMNITIES SHALL APPLY TO EACH INDEMNIFIED PARTY WITH RESPECT TO MATTERS WHICH IN WHOLE OR IN PART ARE CAUSED BY OR ARISE OUT OF THE NEGLIGENCE OF SUCH (AND/OR ANY OTHER) INDEMNIFIED PARTY, IT BEING THE INTENT OF THE PARTIES THAT THE NEGLIGENCE OF
SUCH PARTIES BE EXPRESSLY COVERED HEREBY. However, such indemnities shall not apply to a particular Indemnified Party to the extent that the subject of the indemnification is caused by or arises out of the gross negligence or willful misconduct of
that Indemnified Party. Any amount to be paid under this Section by Borrower to an Indemnified Party shall be a demand obligation owing by Borrower (which Borrower hereby promises to pay) to Lender, as part of the Indebtedness, even if in excess of
the amount committed by Lender under Section 2.1, and secured by the Loan Documents. Nothing in this Section, elsewhere in this Agreement or in any other Loan Document shall limit or impair any rights or remedies of Lender, or any other
Indemnified Party (including without limitation any rights of contribution or indemnification), against Borrower or any other person under any other provision of this Agreement, any other Loan Document, any other agreement or any applicable
Governmental Requirement. The liability of Borrower or any other person under this indemnity shall not be limited or impaired in any way by (i) the release, foreclosure or other termination of the Security Agreement and shall survive the
payment in full of the Indebtedness, any bankruptcy or other debtor relief proceeding, or any other event whatsoever, and (ii) any provision in the Loan Documents or applicable law limiting Borrower’s or such other person’s liability
or Lender’s recourse or rights to a deficiency judgment, or by any change, extension, release, inaccuracy, breach or failure to perform by any party under the Loan Documents, Borrower’s (and, if applicable, such other person’s)
liability hereunder being direct and primary and not as a guarantor or surety. 
 ARTICLE 5 — DEFAULT AND REMEDIES

 Section 5.1 Events of Default. The occurrence of any one of the following shall be a default under this Agreement
(“Default”): 
 (a) Failure to Pay Indebtedness. Any of the Indebtedness is not paid within the
greater of: (i) ten (10) days after the same shall be due, whether by acceleration or otherwise, or (ii) if longer, any applicable grace period provided with respect to such Indebtedness; 
 (b) Nonperformance of Covenants herein set forth. Any covenant, agreement or condition herein is not fully and timely performed,
observed or kept, and except with respect to covenants to pay any of the Indebtedness and those covenants, agreements and conditions set forth in Section 4.7, such failure is not cured within twenty (20) days following written
notice of such failure from Lender to Borrower; 
 (c) Nonperformance of Covenants set forth in any other Loan
Document. Any covenant, agreement or condition in any other Loan Document is not fully and timely performed, observed or kept, and except with respect to covenants to pay any of the Indebtedness, such failure is not cured within the applicable
grace or cure period (if any) provided for in such other Loan Document; 
  

 LOAN AGREEMENT – Page 8 

 (d) Representations. Any statement, representation or warranty in any of the Loan
Documents, or in any financial statement or any other writing heretofore or hereafter delivered to Lender in connection with the Indebtedness is false, fraudulent, misleading or erroneous in any material respect on the date or on the date as of
which such statement, representation or warranty is made; 
 (e) Judgment Against Borrower. Any final judgment
(i) is rendered against Borrower, (ii) is not paid, vacated or discharged within thirty (30) days after entry, and (iii) could reasonably have a material and adverse effect upon Borrower; 
 (f) Bankruptcy or Insolvency. The Borrower or any person obligated to pay any part of the Indebtedness (an “Obligated
Party”): (i) becomes insolvent, or makes a transfer in fraud of creditors, or makes an assignment for the benefit of creditors, or admits in writing its inability to pay its debts as they become due; (ii) generally is not paying its
debts as such debts become due; (iii) has a receiver, trustee or custodian appointed for, or take possession of, (a) all or substantially all of the assets of the Borrower or Obligated Party, or (b) any of the Collateral, either in a
proceeding brought by such party or in a proceeding brought against such party and such appointment is not discharged or such possession is not terminated within sixty (60) days after the effective date thereof or such party consents to or
acquiesces in such appointment or possession; (iv) files a petition for relief under the United States Secured Bankruptcy Code or any other present or future federal or state insolvency, bankruptcy or similar laws (all of the foregoing
hereinafter collectively called “Applicable Secured Bankruptcy Law”) or an involuntary petition for relief is filed against such party under any Applicable Secured Bankruptcy Law and such involuntary petition is not dismissed within
sixty (60) days after the filing thereof, or an order for relief naming such party is entered under any Applicable Secured Bankruptcy Law, or any composition, rearrangement, extension, reorganization or other relief of debtors now or hereafter
existing is requested or consented to by such party; (v) fails to have discharged within a period of sixty (60) days any attachment, sequestration or similar writ levied upon any material property of such party (other than in the ordinary
course of business of Borrower or any Obligated Party); or (vi) fails to pay within thirty (30) days any final money judgment against such party; 
 (g) Transfer of Ownership of Borrower. The sale, pledge, encumbrance, assignment or transfer, voluntarily or involuntarily, of any interest in Borrower or in any entity comprising Borrower (if Borrower or any
such entity is not a natural person but is a corporation, partnership, trust or other legal entity), without the prior written consent of Lender (including, without limitation, if Borrower or any entity comprising Borrower is a partnership or joint
venture, the withdrawal from or admission into it of any general partner or joint venturer) and after giving effect to the same, the aggregate change of ownership in the applicable person is twenty-five percent (25%) or more; 
 (h) Default Under Other Lien. A default or event of default occurs under any lien, security interest or assignment covering the
Collateral or any material part thereof (without hereby implying Lender’s consent to any such lien, security interest or assignment not created under the Loan Documents), and the holder of any such lien, security interest or assignment declares
a default or institutes foreclosure or other proceedings for the enforcement of its remedies thereunder; 
  

 LOAN AGREEMENT – Page 9 

 (i) Liquidation, Etc. The liquidation, termination, dissolution, merger,
consolidation or failure to maintain (and failure to reinstate or cure such failure) good standing in the State of Texas (or in the case of an individual, the death or legal incapacity) of the Borrower or any person obligated to pay any part of the
Indebtedness; 
 (j) Material Adverse Change. In Lender’s reasonable opinion, there has occurred or exists a fact
or set of circumstances which is reasonably likely to have a material adverse effect upon the condition, financial or otherwise, of Borrower or Borrower’s ability to perform its obligations under this Agreement; 
 (k) Enforceability Priority. Any Loan Document shall for any reason without Lender’s specific written consent cease to be in
full force and effect, or shall be declared null and void or unenforceable in whole or in part, or the validity or enforceability thereof, in whole or in part, shall be challenged or denied by any party thereto other than Lender; or the liens or
security interests of Lender in any of the Collateral become unenforceable in whole or in part, or cease to be of the priority herein required, or the validity or enforceability thereof, in whole or in part, shall be challenged or denied by Borrower
or any person obligated to pay any part of the Indebtedness; 
 (l) Default under other Loan Agreements. An Event of
Default occurs under any other loan agreement by and between Lender and Borrower, including, without limitation, that certain Amended and Restated Loan Agreement dated October 1, 2001 (as amended, extended or modified from time to time), and
the same is not remedied within the applicable period of grace (if any) provided in such loan agreement; 
 (m) Line of
Credit Covenants. After the date hereof, (1) the line of credit extended to Borrower by Lender pursuant to that certain Amended and Restated Loan Agreement dated October 1, 2001 (as amended, extended or modified from time to time) is
terminated, expires by its own terms, or otherwise ceases to be in full force and effect, (2) Borrower would otherwise be in default of any of the covenants therein set forth, and (3) the same is not remedied within twenty (20) days
following written notice of such failure from Lender to Borrower; and 
 (n) Other Loan Documents. A default or event
of default occurs under any Loan Document, other than this Agreement, and the same is not remedied within the applicable period of grace (if any) provided in such Loan Document. 
 Section 5.2 Certain Remedies. Should an Event of Default occur, Lender may, at its election, do any one or more of the following without notice
(unless notice is required by applicable statute): 
 (a) Declare the Indebtedness, or any part thereof, immediately due and
payable, whereupon it shall be due and payable without notice of any kind, including but not limited to notice of intention to accelerate, all of which are waived by Borrower. Without limitation of the foregoing, upon the occurrence of an Event of
Default described in clauses (i), (iii) or (iv) of subparagraph (1) of paragraph (f) of Section 5.1, but only by virtue of such an occurrence with respect to Borrower, all of the Indebtedness shall thereupon be
immediately due and payable, without presentment, demand, protest, notice of protest, declaration or notice of acceleration or intention to accelerate, or any other notice or declaration or act of any kind, all of which are hereby expressly waived
by Borrower. 
 (b) Reduce any claim to judgment. 
  

 LOAN AGREEMENT – Page 10 

 (c) Exercise any and all rights and remedies afforded by any of the Loan Documents, or by
law or equity or otherwise, as Lender shall deem appropriate. 
 Section 5.3 Performance by Lender on Borrower’s Behalf. Borrower
agrees that, if Borrower fails to perform any act or to take any action which under any Loan Document Borrower is required to perform or take, or to pay any money which under any Loan Document Borrower is required to pay, and there exists a default
or potential default hereunder or thereunder, Lender, in Borrower’s name or its own name, may, but shall not be obligated to, perform or cause to be performed such act or take such action or pay such money, and any expenses so incurred by
Lender and any money so paid by Lender, shall be a demand obligation owing by Borrower to Lender (which obligation Borrower hereby promises to pay) and Lender, upon making such payment, shall be subrogated to all of the rights of the person, entity
or body politic receiving such payment. No such payment or performance by Lender shall waive or cure any default or waive any right, remedy or recourse of Lender. Any such payment may be made by Lender in reliance on any statement, invoice or claim
without inquiry into the validity or accuracy thereof. Each amount due and owing by Borrower to Lender pursuant to this Section shall bear interest each day, from the date of such expenditure or payment until paid, at the same rate as is provided in
the Note for interest on past due principal owed on the Note; and all such amounts, together with such interest thereon, shall be a part of the Indebtedness and shall be secured by the Security Agreement. The amount and nature of any such expense
and the time when paid shall be fully established by the certificate of Lender or any of Lender’s officers or agents. 
 Section 5.4
Remedies Cumulative. All remedies provided for herein and in any other Loan Document are cumulative of each other and of any and all other remedies existing at law or in equity, and Lender shall, in addition to the remedies provided herein or
in any other Loan Document, be entitled to avail itself of all such other remedies as may now or hereafter exist at law or in equity for the collection of the Indebtedness and the enforcement of the covenants herein and the foreclosure of the liens
and security interests evidenced by the Security Agreement or any other Loan Document, and the resort to any remedy provided for hereunder or under any such other Loan Document or provided for by law or in equity shall not prevent the concurrent or
subsequent employment of any other appropriate remedy or remedies. 
 ARTICLE 6 — GENERAL TERMS AND CONDITIONS 

Section 6.1 Notices. All notices, requests, demands or other communications required or permitted to be given pursuant to this Agreement shall
be in writing and given by (i) personal delivery, (ii) expedited delivery service with proof of delivery, or (iii) United States mail, postage prepaid, registered or certified mail, return receipt requested, sent to the intended
addressee at the address set forth on the signature page of this Agreement, or to such different address as the addressee shall have designated by written notice sent pursuant to the terms hereof and shall be deemed to have been received either, in
the case of personal delivery, at the time of personal delivery, in the case of expedited delivery service, as of the date of first attempted delivery at the address and in the manner provided herein, or in the case of mail, upon deposit in a
depository receptacle under the care and custody of the United States Postal Service. Either party shall have the right to change its address for notice hereunder to any other location within the continental United States by notice to the other
party of such new address at least thirty (30) days prior to the effective date of such new address. 
 Section 6.2
Modifications. No provision of this Agreement or of any of the other Loan Documents may be modified, waived, or terminated except by instrument in writing executed by the party against whom a modification, waiver or termination is sought to
be enforced. 
 Section 6.3 Severability. In case any of the provisions of this Agreement shall for any reason be held to be invalid,
illegal, or unenforceable, such invalidity, illegality, or unenforceability shall not affect any other provision hereof, and this Agreement shall be construed as if such invalid, illegal, or unenforceable provision had never been contained herein.

  

 LOAN AGREEMENT – Page 11 

 Section 6.4 Election of Remedies. Lender shall have all of the rights and remedies granted in this
Agreement and in all of the other Loan Documents and available at law or in equity, and these same rights and remedies shall be cumulative and may be pursued separately, successively, or concurrently against Borrower or any property covered under
the Loan Documents at the sole discretion of Lender. The exercise or failure to exercise any of the same shall not constitute a waiver or release thereof or of any other right or remedy, and the same shall be nonexclusive. 
 Section 6.5 Form and Substance. All documents, certificates, insurance policies and other items required under this Agreement to be executed
and/or delivered to Lender shall be in form and substance satisfactory to Lender. 
 Section 6.6 Controlling Agreement. All agreements
between Borrower and Lender, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of demand or acceleration of the maturity of the Note or otherwise, shall the
interest paid or agreed to be paid to Lender exceed the maximum amount permissible under applicable law. If from any circumstances whatsoever, interest would otherwise be payable to Lender at a rate in excess of that permitted under applicable law,
then the interest payable to Lender shall be reduced to the maximum amount permitted under applicable law, and if from any circumstance Lender shall ever receive anything of value deemed interest by applicable law which would exceed interest at the
highest lawful rate, an amount equal to any excessive interest shall be applied to the reduction of the principal amount owing to Lender under this Agreement or under any of the other Loan Documents and not to the payment of interest, or if such
excessive interest exceeds the unpaid balance of principal owing to Lender under this Agreement and under any of the other Loan Documents, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to Lender shall, to the
extent permitted by applicable law, be amortized, prorated, allocated and/or spread throughout the full period until payment in full of the principal of the indebtedness (including the period of any renewal or extension hereof) so that the interest
on account of such indebtedness for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between Borrower and Lender. 
 Section 6.7 No Third Party Beneficiary. This Agreement is for the sole benefit of Lender and Borrower and is not for the benefit of any third
party. 
 Section 6.8 Borrower in Control. In no event shall Lender’s rights and interests under the Loan Documents be construed
to give Lender the right to control, or be deemed to indicate that Lender is in control of, the business, management or properties of Borrower or the daily management functions and operating decisions made by Borrower. 
 Section 6.9 Number and Gender. Whenever used herein, the singular number shall include the plural and the singular, and the use of any gender
shall be applicable to all genders. The duties, covenants, obligations and warranties of Borrower in this Agreement shall be joint and several obligations of Borrower and of each Borrower if more than one. 
 Section 6.10 Captions. The captions, headings, and arrangements used in this Agreement are for convenience only and do not in any way affect,
limit, amplify, or modify the terms and provisions hereof. 
 Section 6.11 Applicable Law. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS
ARE CONTRACTS MADE IN, AND UNDER THE LAWS OF, THE STATE OF 

  

 LOAN AGREEMENT – Page 12 

 
TEXAS, AND THEIR VALIDITY, ENFORCEMENT AND INTERPRETATION, SHALL FOR ALL PURPOSES BE GOVERNED ENTIRELY BY TEXAS LAW AND APPLICABLE UNITED STATES FEDERAL LAW.

 Section 6.12 Relationship of the Parties. This Agreement provides for the making of the Loan by Lender, in its capacity as a
lender, to Borrower, in its capacity as a borrower, and for the payment of interest and repayment of principal by Borrower to Lender. The relationship between Lender and Borrower is limited to that of creditor/secured party, on the one hand, and
debtor, on the other hand. The provisions herein for delivery of Financial Statements are intended solely for the benefit of Lender to protect its interests as lender in assuring payments of interest and repayment of principal, and nothing contained
in this Agreement shall be construed as permitting or obligating Lender to act as a financial or business advisor or consultant to Borrower, as permitting or obligating Lender to control Borrower or to conduct Borrower’s operations, as creating
any fiduciary obligation on the part of Lender to Borrower, or as creating any joint venture, agency, or other relationship between the parties other than as explicitly and specifically stated in this Agreement. Borrower acknowledges that it has had
the opportunity to obtain the advice of experienced counsel of its own choosing in connection with the negotiation and execution of this Agreement and to obtain the advice of experienced counsel in connection with entering into these binding
provisions, including, without limitation, the provision for waiver of trial by jury. Borrower further acknowledges that it is experienced with respect to financial and credit matters and has made its own independent decisions to apply to Lender for
credit and to execute and deliver this Agreement. 
 Section 6.13 WAIVER OF JURY TRIAL. BORROWER HEREBY COVENANTS AND AGREES
THAT, IN CONNECTION WITH ANY DISPUTE ARISING UNDER THIS AGREEMENT OR UNDER ANY OF THE OTHER LOAN DOCUMENTS, IT SHALL NOT ELECT A TRIAL BY JURY OF ANY ISSUE TRIABLE OF RIGHT BY A JURY AND HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY FULLY TO THE EXTENT
THAT ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST. THIS WAIVER OF RIGHT TO TRIAL BY JURY IS SEPARATELY GIVEN, KNOWINGLY AND VOLUNTARILY, BY BORROWER, AND THIS WAIVER IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH THE
RIGHT TO A JURY TRIAL WOULD OTHERWISE ACCRUE. LENDER IS HEREBY AUTHORIZED AND REQUESTED TO SUBMIT THIS AGREEMENT TO ANY COURT HAVING JURISDICTION OVER THE SUBJECT MATTER AND THE PARTIES HERETO, SO AS TO SERVE AS CONCLUSIVE EVIDENCE OF THE FOREGOING
WAIVER OF THE RIGHT TO JURY TRIAL. FURTHER, BORROWER HEREBY CERTIFIES THAT NO REPRESENTATIVE OR AGENT OF LENDER, INCLUDING LENDER’S COUNSEL, HAS REPRESENTED, EXPRESSLY OR OTHERWISE, TO ANY OF THE UNDERSIGNED THAT LENDER WILL NOT SEEK TO ENFORCE
THIS WAIVER OF RIGHT OF JURY TRIAL PROVISION. 
 Section 6.14 Consent to Jurisdiction. Borrower hereby agrees that any action or
proceeding under this Agreement or under any of the other Loan Documents may be commenced against it in any court of competent jurisdiction within the State of Texas by service of process upon Borrower by first class registered or certified mail,
return receipt requested, addressed to Borrower at its address last known to Lender. Borrower agrees that any such suit, action or proceeding arising out of or relating to this Agreement or to any of the other Loan Documents may be instituted in the
United States District Court for the Northern District of Texas; and Borrower hereby waives any objection to the venue of any such suit, action or proceeding. Nothing herein shall affect the right of Lender to accomplish service of process in any
other manner permitted by law or to commence legal proceedings or otherwise proceed against Borrower in any other jurisdiction or court. 
  

 LOAN AGREEMENT – Page 13 

 Section 6.15 Negotiation. The parties have participated jointly in the negotiation and drafting of
this Agreement. In the event an ambiguity or question of intent or interpretation arises, there shall be no presumption or burden of proof which arises favoring or disfavoring any party by virtue of the authorship of any of the provisions of this
Agreement. 
 Section 6.16 Conflicting Terms. In the event of a conflict or apparent conflict between or among the terms and
provisions of this Agreement and the other Loan Documents, the parties shall give the provisions their broadest interpretation so as to reconcile the conflict or apparent conflict. If such an interpretation is not possible, or if the parties cannot
agree on such an interpretation, Lender, in its sole discretion, shall designate the provision which most closely approximates its intention with respect to the subject matter at the time of execution of the Loan Documents and such provision shall
govern. Borrower hereby agrees that such a procedure does not prejudice its rights under the Loan Documents insofar as Borrower has accepted and agreed to be bound by all of the terms and conditions of this Agreement and of the Loan Documents by its
execution hereof and thereof. 
 Section 6.17 Entire Agreement. THE WRITTEN 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. 
  

 LOAN AGREEMENT – Page 14 

 EXECUTED and DELIVERED as of the date first recited. 
  

					
	The Address of Borrower is:	 	BORROWER:
		
	2911 Turtle Creek Blvd., Suite 700	 	PLAINS CAPITAL CORPORATION,
	Dallas, Texas 75219	 	a Texas corporation
	Attn: Jeff Isom	 		 	
			
		 	By:	 	 /s/ Scott J. Luedke

		 	Name:	 	 Scott J. Luedke

		 	Title:	 	 Vice President and Assistant General Counsel

		
	The Address of Lender is:	 	LENDER:
		
		 	BANK ONE, NA,
	Mail Code TX1-1275	 	a national banking association
	P.O. Box 2050	 		 	
	Fort Worth, Texas 76113-2050	 		 	
	Attn: James W. Aldridge	 		 	
		 	By:	 	 /s/ James W. Aldridge

		 	Name:	 	 James W. Aldridge

		 	Title:	 	 First Vice President

 For deliveries in person, the Address of Lender is: 
 Bank One, NA 
 1301 South Bowen Road 
 Arlington, Texas 76013 
 Attn: James W. Aldridge 
  

 LOAN AGREEMENT – Page 15 

 EXHIBIT “A” 
 TO 
 LOAN AGREEMENT 
 CONDITIONS TO CLOSING AND FUNDING 
  

							
	(X)	  	1.	  	The Note, dated the Closing Date.
			
	(X)	  	2.	  	The Pledge and Security Agreement, dated the Closing Date.
			
	(X)	  	3.	  	The original certificate or certificates evidencing the Pledged Stock.
			
	(X)	  	4.	  	Stock powers, duly executed by Borrower in blank.
			
	(X)	  	5.	  	The Collateral Assignment of Note, dated the Closing Date.
			
	(X)	  	6.	  	The Financing Statements with respect to the security interest granted in the Loan Documents, together with evidence of the priority of the respective security interests perfected
thereby.
			
	(X)	  	7.	  	The Financial Statements of Borrower.
			
	(X)	  	8	  	With respect to Borrower:
				
		  		  	(a)	  	Certified Resolutions or Unanimous Consent of the Board of Directors and Incumbency;
				
		  		  	(b)	  	Certificates of Existence and Good Standing from state of incorporation or organization;
				
		  		  	(c)	  	Certified Articles of Incorporation and all amendments thereto from state of incorporation; and
				
		  		  	(d)	  	Certified Bylaws and all amendments thereto from the company.
			
	(X)	  	9.	  	The opinion of Borrower’s counsel addressed to Lender, dated the Closing Date and satisfactory to Lender in form and content, to the effect that (i) Borrower is duly formed,
validly existing, in good standing and qualified to do business under Texas law; (ii) the Loan Documents are valid and binding obligations of Borrower, enforceable in accordance with their respective terms subject, as to enforcement, to the effect
of Debtor Relief Laws; (iii) neither the Loan nor any of the financing arrangements contemplated by this Agreement or by the Loan Documents violate the usury laws of the State of Texas or any other applicable law; (iv) to the knowledge of such
counsel the execution of the Loan Documents and the carrying out of the transactions contemplated thereby will not constitute a default or provide a basis for acceleration of indebtedness under any material agreement or restriction known to such
counsel, or violate any law to which Borrower is subject; and (v) to the knowledge of such counsel there is no pending or

  

 LOAN AGREEMENT 

							
			
		  		  	threatened litigation or proceeding by or against Borrower under any Debtor Relief Law or against Borrower whereby the total potential liability may exceed $25,000.00; and
covering such other matters as Lender may reasonably require; and such other satisfactory evidence as Lender shall require that all necessary action on the part of Borrower has been taken with respect to the execution and delivery of this Agreement,
the other Loan Documents and the consummation of the transactions contemplated hereby so that this Agreement and all other Loan Documents to be executed and delivered by or on behalf of Borrower will be valid and binding upon Borrower or any other
person executing and delivering such document, as the case may be.
			
	(X)	  	10.	  	Borrower shall obtain and maintain insurance coverage typical of that held by similarly situated companies, satisfactory to Lender.

  

 LOAN AGREEMENTPromissory Note dated September 22, 2004

 Exhibit 10.43 
 PROMISSORY NOTE 
  

			
	$6,000,000.00	  	September 22, 2004

  

	1.	COVENANT TO PAY. 

 1.1. Promise to
Pay. FOR VALUE RECEIVED, PLAINS CAPITAL CORPORATION, a Texas corporation (herein called “Maker”, whether one or more), promises to pay to the order of BANK ONE, NA, a national banking association [herein, together
with all subsequent holders of this Promissory Note (“Note”), called “Payee”], on or before the Maturity Date (as defined below), as hereinafter provided, the principal sum of SIX MILLION AND NO/100 DOLLARS
($6,000,000.00), or so much thereof as may actually be outstanding hereunder, together with interest on the unpaid principal balance from time to time outstanding at the rate herein specified and otherwise in strict accordance with the terms and
provisions hereof. 
  

	2.	INTEREST RATE COMPUTATION. 

 2.1.
Interest Rate. Except as otherwise provided herein, interest on the principal balance of this Note outstanding from time to time shall accrue at the lesser of (a) the Alternative Base Rate (as defined herein) or (b) the Maximum
Lawful Rate (as defined herein). Notwithstanding anything to the contrary set forth herein, the Alternative Base Rate shall fluctuate automatically daily, up and down, without notice to Maker or any other person, as and in the amount by which the
Prime Rate fluctuates, subject always to the limitation on interest set forth herein. 
 2.2. Default Rate. Upon the occurrence
of an Event of Default hereunder or under any of the Loan Documents (as defined herein), at the option of the Payee, the principal balance of this Note then outstanding shall bear interest for the period beginning with the date of the occurrence of
such Event of Default at the Default Rate (as defined herein). 
 2.3. Definitions. As used in this Note and the Loan
Documents, the following terms shall have the respective meanings indicated below: 
 “Alternative Base Rate” shall mean, for
any day, a rate per annum equal to the sum of (a) the Prime Rate, minus (b) three-quarters of one percent (0.75%). Any change in the Alternative Base Rate due to a change in the Prime Rate shall be effective without notice to Maker
from and including the effective date of such change in the Prime Rate. 
 “Business Day” shall mean any day that is not a
Saturday, Sunday or other day on which national banking associations are authorized or required under applicable law to remain closed. 
 “Charges” shall have the meaning specified in Section 5.4 hereof. 
 “Default Rate”
shall mean the interest rate, at Payee’s option, equal to the lesser of (i) the Alternative Base Rate plus three percent (3%), and (ii) the Maximum Lawful Rate. 
 “Event of Default” shall have the meaning specified in Section 4.1 hereof. 
  

 1 

 “Maturity Date” shall mean the date on which this Note matures, whether by acceleration,
lapse of time or otherwise; provided, that such date shall be September 1, 2009, unless earlier accelerated as permitted herein, in the Loan Agreement or in any other Loan Document. 
 “Loan Agreement” shall mean that certain Loan Agreement, dated of even date herewith, by between Payee, as lender, and Maker, as
borrower. 
 “Loan Documents” shall have the meaning specified in Section 5.1 hereof. 
 “Maximum Lawful Rate” shall have the meaning specified in Section 5.4 hereof. 
 “Prime Rate” shall mean the prime rate of interest as announced by Payee or its parent (which may not be the lowest, best or most
favorable rate of interest which Payee may charge on loans to its customers). 
 2.4. Interest Limitation Recoupment.
Notwithstanding anything in this Note to the contrary, if at any time (i) interest at the Alternative Base Rate, (ii) interest at the Default Rate, if applicable, and (iii) the Charges computed over the full term of this Note, exceed
the Maximum Lawful Rate, then the rate of interest payable hereunder, together with all Charges, shall be limited to the Maximum Lawful Rate; provided, however, that any subsequent reduction in the Alternative Base Rate shall not cause a reduction
of the rate of interest payable hereunder below the Maximum Lawful Rate until the total amount of interest earned hereunder, together with all Charges, equals the total amount of interest which would have accrued at the Alternative Base Rate if such
interest rate had at all times been in effect. 
 2.5. Computation Period. Interest on the indebtedness evidenced by this Note
shall be computed on the basis of a 360-day year and shall accrue on the actual number of days any principal balance hereof is outstanding. 
  

	3.	PAYMENTS. 

 3.1. Payment
Schedule. Interest, calculated on a daily basis, shall be payable semi-annually in arrears on the first day of each February and August, commencing on February 1, 2005, and continuing on the first day of each successive February and
August thereafter until the Maturity Date, at which time all accrued and unpaid interest hereon shall be due and payable in full. In addition to but not in lieu of each such interest installment, on the first day of each February, commencing on
February 1, 2005, a principal payment of $500,000.00 shall be due and payable. The aggregate outstanding principal balance under the Note plus all accrued but unpaid interest thereon shall be due and payable in full on the Maturity Date.

 3.2. Application. All payments on this Note shall, prior to an Event of Default, be applied in the following order:
(i) the payment of accrued but unpaid interest hereon, (ii) the payment or reimbursement of any expenses, costs or obligations (other than the principal hereof and interest hereon) for which Maker shall be obligated or Payee entitled
pursuant to the provisions hereof or of the other Loan Documents, and (iii) the payment of all or any portion of the principal balance then outstanding hereunder, in either the direct, or inverse, order of maturity. After an Event of Default,
all payments on the Note shall, at the sole option of Payee, be applied from time to time and in any order, to the foregoing items. 
  

 2 

 3.3. Place. All payments hereunder shall be made to Payee at BANK ONE, NA, 420 Throckmorton
Street, Suite 400, Fort Worth, Texas 76102, or as Payee may from time to time designate in writing to Maker. 
 3.4. Business
Days. If any payment of principal or interest on this Note shall become due and payable on a Saturday, Sunday or any other day on which Payee is not open for normal business, such payment shall be made on the next succeeding business day of
Payee. Any such extension of time for payment shall be included in computing interest which has accrued and shall be payable in connection with such payment. 
 3.5. Legal Tender. All amounts payable hereunder are payable in lawful money or legal tender of the United States of America. 
 3.6. Prepayments. Maker shall have the right at any time to prepay the Loan in part or in whole without penalty. 
 3.7. Late Charge. In addition to the payments otherwise specified herein, subject to the provisions of Section 5.4 hereof, if
Maker fails, refuses or neglects to pay, in full, any installment or portion of the indebtedness evidenced hereby, within ten (10) days after same shall be due and payable, then Maker shall be obligated to pay to Payee a late charge equal to
the greater of Fifty and No/100 Dollars ($50.00) or five percent (5%) of the amount of such delinquent payment to compensate Payee for Maker’s default and the additional costs and administrative efforts required by reason of such default;
provided, however, Payee will apply any late charge fee collected from Maker to the amount of interest charged at the Default Rate which covers the period for which such late charge was collected. 
  

	4.	DEFAULT AND REMEDIES. 

 4.1.
Default. An “Event of Default” shall occur hereunder if (i) Maker shall fail, refuse or neglect to pay, in full, any installment or portion of the indebtedness evidenced hereby, within ten (10) days after the
same shall become due and payable, whether at the due date thereof as stipulated herein, or upon acceleration (but without any grace period), or (ii) an Event of Default (as defined and used in any of the other Loan Documents) shall occur under
any of the other Loan Documents. 
 4.2. Remedies. If an Event of Default shall occur under this Note or any of the Loan
Documents (as herein defined), then Payee may, at its option, without notice or demand, declare the unpaid principal balance of, and the accrued but unpaid interest on, this Note immediately due and payable, foreclose all liens and security
interests securing payment hereof, pursue any and all other rights, remedies and recourses available to Payee or pursue any combination of the foregoing. All remedies hereunder, under the Loan Documents and at law or in equity shall be cumulative.

 4.3. Waiver. Except as specifically provided in the Loan Documents, Maker and any endorsers or guarantors hereof severally
waive presentment and demand for payment, notice of intent to accelerate maturity, notice of acceleration of maturity, protest and notice of protest and nonpayment, bringing of suit and diligence in taking any action to collect any sums owing
hereunder or in proceeding against any of the rights and collateral securing payment hereof. Maker and any endorsers or guarantors hereof agree (i) that the time for any payments hereunder may be extended from time to time without notice and
consent, (ii) to the acceptance of further collateral, and/or (iii) the release of any existing collateral for the payment of this Note, all without in any manner affecting their liability under or with respect to this Note. No extension
of time for the payment of this Note or any installment hereof shall affect the liability of Maker under this Note or any endorser or guarantor hereof even though the Maker or such endorser or guarantor is not a party to such agreement. 

 

 3 

 4.4. No Waiver. Failure of Payee to exercise any of the options granted herein to Payee
upon the happening of one or more of the events giving rise to such options shall not constitute a waiver of the right to exercise the same or any other option at any subsequent time in respect to the same or any other event. The acceptance by Payee
of any payment hereunder that is less than payment in full of all amounts due and payable at the time of such payment shall not constitute a waiver of the right to exercise any of the options granted herein to Payee at that time or at any subsequent
time or nullify any prior exercise of any such option without the express written acknowledgment of the Payee. 
 4.5. Collection
Costs. Maker agrees to pay all reasonable costs of collection hereof when incurred, including reasonable attorneys’ fees, whether or not any legal action shall be instituted to enforce this Note. 
  

	5.	MISCELLANEOUS. 

 5.1. Loan
Documents. This Note is issued pursuant to the Loan Agreement, and is the note defined therein as the “Note”. This Note is secured, inter alia, by a Pledge and Security Agreement (the “Security
Agreement”) of even date herewith executed by Maker in favor of Payee covering certain collateral, as more particularly described therein (this Note, the Loan Agreement and Security Agreement, and all the other documents evidencing,
securing or pertaining to the transaction in which the indebtedness evidenced hereby was incurred are, collectively, referred to as the “Loan Documents”). 
 5.2. Notices. All notices, requests, demands or other communications required or permitted to be given pursuant to this Agreement shall be
in writing and given by (i) personal delivery, (ii) expedited delivery service with proof of delivery, or (iii) United States mail, postage prepaid, registered or certified mail, return receipt requested, sent to the intended
addressee at the address set forth below or to such different address as the addressee shall have designated by written notice sent pursuant to the terms hereof and shall be deemed to have been received either, in the case of personal delivery, at
the time of personal delivery, in the case of expedited delivery service, as of the date of first attempted delivery at the address and in the manner provided herein, or in the case of mail, upon deposit in a depository receptacle under the care and
custody of the United States Postal Service. Either party shall have the right to change its address for notice hereunder to any other location within the continental United States by notice to the other party of such new address at least thirty
(30) days prior to the effective date of such new address. For purposes of such notices, the addresses of the parties shall be as follows: 
  

					
		 	Payee:	  	If intended for Payee and to be delivered in person, to:
			
		 		  	BANK ONE, NA
		 		  	420 Throckmorton Street, Suite 400
		 		  	Fort Worth, Texas 76102
		 		  	Attn.: James W. Aldridge
			
		 		  	If intended for Payee and to be delivered by mail, to:
			
		 		  	BANK ONE, NA
		 		  	Mail Code TX1-1275
		 		  	P.O. Box 2050
		 		  	Fort Worth, Texas 76113-2050
		 		  	Attn: James W. Aldridge

  

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		 	Maker:	  	PLAINS CAPITAL CORPORATION
		 		  	2911 Turtle Creek Boulevard, Suite 700
		 		  	Dallas, Texas 75219
		 		  	Attn: Jeff Isom

 5.3. Governing Law. THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF TEXAS AND THE APPLICABLE LAWS OF THE UNITED STATES OF AMERICA. THIS NOTE IS PERFORMABLE IN TARRANT COUNTY, TEXAS. Any action or proceeding under or in connection with this Note against Maker or any other party ever
liable for payment of any sums of money payable on this Note may be brought in any state court located in Fort Worth, Tarrant County, Texas, or any federal court in Tarrant County, Texas. Maker and each such other party hereby irrevocably
(i) submits to the nonexclusive jurisdiction of such courts, and (ii) waives any objection it may now or hereafter have as to the venue of any such action or proceeding brought in such court or that such court is an inconvenient forum.

 5.4. Interest Limitation. It is expressly stipulated and agreed to be the intent of Maker and Payee at all times to comply
with the applicable Texas law governing the maximum rate or amount of interest payable on this Note or the indebtedness (“Indebtedness”) evidenced hereby or evidenced or secured by the other Loan Documents (or applicable United
States Federal law to the extent that it permits Payee to contract for, charge, take, reserve or receive a greater amount of interest than under Texas law). If the applicable law is ever judicially interpreted so as to render usurious any amount
called for under this Note or under any of the other Loan Documents, or contracted for, charged, taken, reserved or received with respect to the Indebtedness, or Payee’s exercise of the option to accelerate the maturity of this Note, or any
prepayment by Maker results in Maker having paid or Payee having received any interest in excess of that permitted by applicable law, then it is Maker’s and Payee’s express intent that all excess amounts theretofore collected by Payee be
credited on the principal balance of this Note and all other Indebtedness (or, if this Note and all other Indebtedness have been or would thereby be paid in full, refunded to Maker), and the provisions of this Note and the other Loan Documents
immediately be deemed reformed and the amounts thereafter collectible hereunder and thereunder reduced, without the necessity of the execution of any new document, so as to comply with the applicable law, but so as to permit the recovery of the
fullest amount otherwise called for hereunder and thereunder; provided, however, if this Note has been paid in full before the end of the stated term of this Note, then Maker and Payee agree that Payee shall, with reasonable promptness after Payee
discovers or is advised by Maker that interest was received in an amount in excess of the Maximum Lawful Rate, either refund such excess interest to Maker or credit such excess interest against any other Indebtedness then owing by Maker to Payee.
Maker hereby agrees that as a condition precedent to any claim seeking usury penalties against Payee, that Maker will provide written notice to Payee, advising Payee in reasonable detail of the nature and amount of the violation, and Payee shall
have sixty (60) days after receipt of such notice in which to correct such usury violation, if any, by either refunding such excess interest to Maker or crediting such excess interest against any other indebtedness then owing by Maker to Payee.
All sums contracted for, charged or received by Payee for the use, forbearance or detention of the Indebtedness shall, to the extent permitted by applicable law, be amortized or spread, using the actuarial method, throughout the stated term of the
Indebtedness until payment in full so that the rate or amount of interest on account of the Indebtedness does not exceed the Maximum Lawful Rate from time to time in effect and applicable to the Indebtedness for so long as debt is outstanding. In no
event shall the provisions of Chapter 346 of the Texas Finance Code (which regulates certain revolving credit loan accounts and revolving triparty accounts) apply to the Indebtedness. Notwithstanding anything to the contrary contained herein or in
any of the other Loan Documents, it is not the intention of Payee to accelerate the maturity of any interest that has not accrued at the time of such acceleration or to collect unearned interest at the time of such acceleration. As used herein, the
term “Maximum Lawful Rate” shall mean the maximum lawful rate of interest which may be contracted for, charged, taken, received 

  

 5 

 
or reserved by Payee in accordance with the applicable laws of the State of Texas (or applicable United States Federal law to the extent that it permits
Payee to contract for, charge, take, receive or reserve a greater amount of interest than under Texas law), taking into account all Charges (as herein defined) made in connection with the transaction evidenced by this Note and the other Loan
Documents. As used herein, the term “Charges” shall mean all fees and charges, if any, contracted for, charged, received, taken or reserved by Payee in connection with the transactions relating to this Note and the other Loan
Documents or the Indebtedness, which are treated as interest under applicable law. To the extent that Payee is relying on the Texas Finance Code to determine the Maximum Lawful Rate payable on the Indebtedness, Payee will utilize the
“weekly ceiling” specified in Chapter 303 as the applicable ceiling, after taking into consideration all sums paid or agreed to be paid to Payee outside the provisions of this Note for the use, forbearance or detention of the
Indebtedness. To the extent United States federal law permits Payee to contract for, charge or receive a greater amount of interest, Payee will rely on United States federal law instead of the Texas Finance Code, for the purpose of determining the
Maximum Lawful Rate. Additionally, to the extent permitted by applicable law now or hereinafter in effect, Payee may, at its option and from time to time, implement any other method of computing the Maximum Lawful Rate under the Texas Finance Code
as supplemented by the Texas Credit Code, as amended, or under other applicable law by giving notice, if required, to Maker as provided by applicable law now or hereafter in effect. Maker and Payee hereby agree that any and all suits alleging the
contracting for, charging or receiving of usurious interest shall lie in Tarrant County, Texas, and each irrevocably waive the right to venue in any other county. 
 5.5. Captions. The article and section headings used in this Note are for convenience of reference only and shall not affect, alter or define the meaning or interpretation of the text of any article or
section contained in this Note. 
 5.6. Joint and Several Liability. If this Note is executed by more than one party, each such
party shall be jointly and severally liable for the obligations of Maker under this Note. If Maker is a partnership, each general partner of Maker shall be jointly and severally liable hereunder. and each such general partner hereby waives any
requirement of law that in the event of a default hereunder Payee exhaust any assets of Maker before proceedings against such general partner’s assets. 
 5.7. NO ORAL AGREEMENTS. THIS NOTE AND ALL THE OTHER LOAN DOCUMENTS EMBODY THE FINAL, ENTIRE AGREEMENT OF MAKER AND PAYEE AND SUPERSEDE ANY AND ALL PRIOR COMMITMENTS, AGREEMENTS, REPRESENTATIONS AND
UNDERSTANDINGS, WHETHER WRITTEN OR ORAL, RELATING TO THE SUBJECT MATTER HEREOF AND THEREOF AND MAY NOT BE CONTRADICTED OR VARIED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF MAKER AND PAYEE. THERE ARE NO ORAL
AGREEMENTS BETWEEN MAKER AND PAYEE. The provisions of this Note and the Loan Documents may be amended or revised only by an instrument in writing signed by the Maker and Payee. 
  

 6 

 EXECUTED as of the date and year first above written. 
  

			
	MAKER:
	
	PLAINS CAPITAL CORPORATION,
	a Texas corporation
		
	By:	 	/s/ Jeff Isom
	Name:	 	Jeff Isom
	Title:	 	CFO

  

 7

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