Document:

Exhibit 10.14

 

TRANCHE
A TERM LOAN NOTE

 

	
  $2,500,000

  	
   

  	
   

  
	
  February 22,
  2008

  	
   

  	
  New York, New York

  

 

FOR VALUE RECEIVED, BOISE PAPER HOLDINGS, L.L.C., a Delaware
limited liability company, as successor by merger to ALDABRA SUB LLC, a Delaware limited liability company (“Borrower”), promises to pay RZB FINANCE LLC (“Payee”)
or its registered permitted assigns the principal amount of TWO MILLION FIVE HUNDRED THOUSAND  DOLLARS ($2,500,000) in the installments
referred to below.

 

Borrower also promises to pay interest on the unpaid
principal amount hereof, from the date hereof until paid in full (except for
contingent obligations for which no claim has been made), at the rates and at
the times which shall be determined in accordance with the provisions of that
certain Credit and Guaranty Agreement, dated as of  February 22, 2008 (as it may be amended,
supplemented or otherwise modified, the “Credit
Agreement”; the terms defined therein and not otherwise defined
herein being used herein as therein defined), by and among BORROWER,
ALDABRA HOLDING SUB LLC, a Delaware
limited liability company, certain Subsidiaries of Borrower, as Guarantors, the
Lenders party thereto from time to time, GOLDMAN
SACHS CREDIT PARTNERS L.P., as Administrative Agent and certain other agents party thereto.

 

Borrower shall make scheduled principal payments on
this Note as set forth in Section 2.12 of the Credit Agreement.

 

This Note is one of the “Tranche A Term Loan Notes” in
the aggregate principal amount of $250,000,000 and is issued pursuant to and
entitled to the benefits of the Credit Agreement, to which reference is hereby
made for a more complete statement of the terms and conditions under which the
Term Loan evidenced hereby was made and is to be repaid.

 

All payments of principal and interest in respect of
this Note shall be made in lawful money of the United States of America in same
day funds at the Principal Office of Administrative Agent or at such other
place as shall be designated in writing for such purpose in accordance with the
terms of the Credit Agreement.  Unless
and until an Assignment Agreement effecting the assignment or transfer of the
obligations evidenced hereby shall have been accepted by Administrative Agent
and, if required by the Credit Agreement, consented to by Borrower and recorded
in the Register, Borrower, each Agent and Lenders shall be entitled to deem and
treat Payee as the owner and holder of this Note and the obligations evidenced
hereby.  Payee hereby agrees, by its acceptance
hereof, that before disposing of this Note or any part hereof, it will make a
notation hereon of all principal payments previously made hereunder and of the
date to which interest hereon has been paid; provided, the failure to make a
notation of any payment made on this Note shall not limit or otherwise affect
the obligations of Borrower hereunder with respect to payments of principal of
or interest on this Note.

 

This Note is subject to mandatory prepayment and to
prepayment at the option of Borrower, each as provided in the Credit Agreement.

 

THIS NOTE AND THE RIGHTS AND OBLIGATIONS OF BORROWER
AND PAYEE HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES THEREOF.

 

The unpaid balance of the principal amount of this
Note, together with all accrued and unpaid interest thereon, (i) will
automatically upon the occurrence of any Event of Default described in Section 8.1(f) or
8.1(g) of the Credit Agreement or (ii) may if any other Event of
Default has occurred and is continuing, become or be declared to be due and
payable in the manner, upon the conditions and with the effect provided in the
Credit Agreement.

 

The terms of this Note are subject to amendment only
in the manner provided in the Credit Agreement.

 

 

No reference herein to the Credit Agreement and no
provision of this Note or the Credit Agreement shall alter or impair the
obligations of Borrower, which are absolute and unconditional, to pay the
principal of and interest on this Note at the place, at the respective times,
and in the currency herein prescribed.

 

Borrower promises to pay all reasonable, out-of-pocket
costs and expenses, including reasonable attorneys’ fees, all as provided in
the Credit Agreement, incurred in the collection and enforcement of this
Note.  Borrower and any endorsers of this
Note hereby consent to renewals and extensions of time at or after the maturity
hereof, without notice, and hereby waive diligence, presentment, protest,
demand notice of every kind and the right to plead any statute of limitations
as a defense to any demand hereunder, in each case, to the full extent
permitted by applicable law.

 

 [Remainder of page intentionally
left blank]

 

 

IN WITNESS WHEREOF, Borrower has caused this
Note to be duly executed and delivered by its officer thereunto duly authorized
as of the date and at the place first written above.

 

	
   

  	
  BOISE PAPER HOLDINGS, L.L.C.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:
  

  	
  /s/
  Samuel K. Cotterell

  
	
   

  	
  Name:
  Samuel K. Cotterell

  
	
   

  	
  Title:
  Vice President

  

 

[Signature Page to Tranche A Term Loan Note]

 

 

TRANSACTIONS ON

TRANCHE A TERM LOAN NOTE

 

	
  Date

  	
   

  	
  Amount of Loan

  Made This Date

  	
   

  	
  Amount of Principal

  Paid This Date

  	
   

  	
  Outstanding Principal

  Balance This Date

  	
   

  	
  Notation

  Made ByExhibit 10.15

 

REVOLVING LOAN NOTE

 

	
  $12,500,000

  	
   

  	
   

  
	
  February 22, 2008

  	
   

  	
  New York, New York

  

 

FOR VALUE RECEIVED,
BOISE PAPER HOLDINGS, L.L.C., a Delaware limited liability company, as
successor by merger to ALDABRA SUB LLC,
a Delaware limited liability company (“Borrower”),
promises to pay THE BANK OF NOVA SCOTIA (“Payee”) or its registered permitted
assigns, on or before the Revolving Commitment Termination Date, the lesser of (a) TWELVE MILLION FIVE HUNDRED THOUSAND DOLLARS  ($12,500,000)
and (b) the unpaid principal amount of all advances made by Payee to
Borrower as Revolving Loans under the Credit Agreement referred to below.

 

Borrower also promises to pay interest on the unpaid
principal amount hereof, from the date hereof until paid in full (except for contingent
obligations for which no claim has been made), at the rates and at the times
which shall be determined in accordance with the provisions of that certain
Credit and Guaranty Agreement, dated as of February 22, 2008 (as it may be
amended, supplemented or otherwise modified, the “Credit Agreement”; the terms defined therein and not
otherwise defined herein being used herein as therein defined), by and among BORROWER, ALDABRA HOLDING SUB LLC,
a Delaware limited liability company, certain Subsidiaries of Borrower, as
Guarantors, the Lenders party thereto from time to time, GOLDMAN SACHS CREDIT PARTNERS L.P., as
Administrative Agent and certain other agents party thereto.

 

This Note is one of the “Revolving Loan Notes” in the
aggregate principal amount of $250,000,000 and is issued pursuant to and
entitled to the benefits of the Credit Agreement, to which reference is hereby
made for a more complete statement of the terms and conditions under which the
Loans evidenced hereby were made and are to be repaid.

 

All payments of principal and interest in respect of
this Note shall be made in lawful money of the United States of America in same
day funds at the Principal Office of Administrative Agent or at such other
place as shall be designated in writing for such purpose in accordance with the
terms of the Credit Agreement.  Unless
and until an Assignment Agreement effecting the assignment or transfer of the
obligations evidenced hereby shall have been accepted by Administrative Agent
and, if required by the Credit Agreement, consented to by Borrower and recorded
in the Register, Borrower, each Agent and Lenders shall be entitled to deem and
treat Payee as the owner and holder of this Note and the obligations evidenced
hereby.  Payee hereby agrees, by its
acceptance hereof, that before disposing of this Note or any part hereof, it
will make a notation hereon of all principal payments previously made hereunder
and of the date to which interest hereon has been paid; provided, the failure
to make a notation of any payment made on this Note shall not limit or
otherwise affect the obligations of Borrower hereunder with respect to payments
of principal of or interest on this Note.

 

This Note is subject to mandatory prepayment and to
prepayment at the option of Borrower, each as provided in the Credit Agreement.

 

THIS NOTE AND THE RIGHTS AND OBLIGATIONS OF BORROWER
AND PAYEE HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD
TO CONFLICTS OF LAWS PRINCIPLES THEREOF.

 

The unpaid balance of the principal amount of this
Note, together with all accrued and unpaid interest thereon, (i) will
automatically upon the occurrence of any Event of Default described in Section 8.1(f) or
8.1(g) of the Credit Agreement or (ii) may if any other Event of
Default has occurred and is continuing, become or be declared to be due and
payable in the manner, upon the conditions and with the effect provided in the
Credit Agreement.

 

The terms of this Note are subject to amendment only
in the manner provided in the Credit Agreement.

 

 

No reference herein to the Credit Agreement and no
provision of this Note or the Credit Agreement shall alter or impair the
obligations of Borrower, which are absolute and unconditional, to pay the
principal of and interest on this Note at the place, at the respective times,
and in the currency herein prescribed.

 

Borrower promises to pay all reasonable, out-of-pocket
costs and expenses, including reasonable attorneys’ fees, all as provided in
the Credit Agreement, incurred in the collection and enforcement of this
Note.  Borrower and any endorsers of this
Note hereby consent to renewals and extensions of time at or after the maturity
hereof, without notice, and hereby waive diligence, presentment, protest,
demand notice of every kind and the right to plead any statute of limitations
as a defense to any demand hereunder, in each case to the full extent permitted
by applicable law.

 

[Remainder of page intentionally left
blank]

 

 

IN WITNESS WHEREOF,
Borrower has caused this Note to be duly executed and delivered by its officer
thereunto duly authorized as of the date and at the place first written above.

 

	
   

  	
  BOISE PAPER HOLDINGS, L.L.C.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Samuel K. Cotterell

  
	
   

  	
  Name: Samuel K. Cotterell

  
	
   

  	
  Title: Vice President

  

 

[Signature Page to Revolving Loan Note]

 

 

TRANSACTIONS ON

REVOLVING LOAN NOTE

 

	
  Date

  	
   

  	
  Amount of Loan

  Made This Date

  	
   

  	
  Amount of Principal

  Paid This Date

  	
   

  	
  Outstanding Principal

  Balance This Date

  	
   

  	
  Notation

  Made By

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