Document:

Third Amendment to the Branded Jobber Contract

 Exhibit 10.64 
 THIRD AMENDMENT TO THE BRANDED JOBBER CONTRACT 
 This Third Amendment to the Branded Jobber Contract
(“Third Amendment”) July 18, 2006 (“Amendment Date”) is between BP Products North America Inc., a Maryland corporation with offices at 28100 Torch Parkway, Warrenville, Illinois 60555 (“Company”), and The Pantry,
Inc., a Delaware corporation with an address at Post Office Box 1410, 1801 Douglas Drive, Sanford, North Carolina 27330 (“Jobber”). 
 WITNESSETH: 
 WHEREAS, Company and Jobber have entered into a Branded Jobber Contract dated February 1, 2003 (“Branded
Jobber Contract”), as amended by an Amendment to the Branded Jobber Contract dated February 14, 2003 (“First Amendment”) and a Second Amendment to the Branded Jobber Contract dated June 11, 2004 (“Second
Amendment”), in which Company agrees to sell and Jobber agrees to purchase and receive Company’s currently offered and available BP branded gasoline products, as determined and designated by Company; and 
 WHEREAS, both parties desire to amend the Branded Jobber Contract, as amended, and to amend and restate the First Amendment and Second Amendment, to
include additional terms and conditions and modify existing terms and conditions. 
 IN CONSIDERATION OF the mutual covenants, conditions and
promises contained in this Third Amendment, Company and Jobber hereby agree as follows: 
  

	A.	Capitalized Terms. Unless as otherwise indicated, all capitalized terms used but not defined in this Third Amendment have the same meanings assigned to them in the Branded
Jobber Contract. 

  

	B.	Restatement and Termination of Previous Amendments. This Third Amendment amends, restates and supersedes all terms and conditions of the First Amendment and Second Amendment.
As of the Amendment Date, the First Amendment and Second Amendment are deleted in their entirety and will have no further effect. 

  

	C.	Amended Terms. 

  

	 	1.	Paragraph 1 of the Branded Jobber Contract is deleted in its entirety and replaced with the following: 

  

	 	1.	Term. The term covered by this Contract will be for a period beginning on February 1, 2003 and ending on September 30, 2012, unless terminated earlier by law or by
the terms of this Contract or unless extended by Company upon written notice. If the franchise relationship underlying this Contract continues for any reason beyond the expiration date indicated above, this Contract will be extended until terminated
or until superseded by a new branded jobber contract, if offered. 

  

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	 	2.	The following language is added to the end of paragraph 12(h) of the Branded Jobber Contract: 

 Notwithstanding paragraph 12(f) of the Contract, a sale, conveyance, alienation, transfer, merger or other change of legal or beneficial interest
resulting in a change in control of Jobber will not trigger Company’s Right to Purchases if at the time it notifies Company of the intended change of control Jobber is a publicly traded corporation-being listed on a national stock exchange or
included in a national automated stock quotation system in the United States. Regardless of the exception allowed in this paragraph 12(h), subject to any applicable restrictions under the federal securities laws, Jobber will promptly provide Company
with written notice as required under Paragraph 12(g) above. 
  

	 	3.	The phrase “Subject to paragraph 12(h),” is added to the beginning of the second sentence of Paragraph 13(a) of the Branded Jobber Contract. 

  

	 	4.	Paragraph 34 of the Branded Jobber Contract is added as follows: 

 34. Additional Terms. 
 Paragraph 4(a) - Credit policy and forms of security. As a substitute for the
requirement in paragraph 4(a) of the Branded Jobber Contract that Jobber executes an Unlimited Guaranty under all circumstances, Company will instead require that Jobber provide either an Unlimited Guaranty or some other form of security acceptable
to Company, in its sole discretion. In addition, if Company does extend credit to Jobber, it will do so according to an established credit policy, as amended from time to time. Notwithstanding the above, all other terms and conditions in paragraph
4(a) will remain unchanged. 
 Paragraphs [ * * * ]– [ * * * ]. The requirement in paragraph [ * * * ] of the Branded
Jobber Contract that Jobber must provide Company with a Right of First Offer on those assets identified with or by [ * * * ], shall apply only in those situations where Jobber [ * * * ], in which case, Jobber may elect to provide Company
either of the following: 
  

	 	a.	a right to [ * * * ] on all of [ * * * ] with its petroleum business; or 

  

	 	b.	a [ * * * ] with or by Company’s [ * * * ]. 

  

	[***]	Confidential treatment requested pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with
the Commission. 

  

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 Company’s assignment rights under paragraph [ * * * ] will include the right to assign [ * * * ].

 Paragraphs [ * * * ]. [ * * * ] Jobber [ * * * ] Company with a [ * * * ] as provided above, Jobber [ * * * ] Company
[ * * * ] and [ * * * ] of all contract documents [ * * * ] agreement and any [ * * * ] and [ * * * ] Company: to [ * * * ] of the agreement; and, [ * * * ] agreement include Jobber’s [ * * * ] assign [ * * * ], [ * * * ]. [ * * * ] within
which to [ * * * ] by written notice to Jobber. [ * * * ] will be [ * * * ] and [ * * * ] to Company and Jobber, [ * * * ] after Company [ * * * ]. [ * * * ] with [ * * * ] and [ * * * ], subject only to [ * * * ], [ * * * ] and [ * * * ] that were
[ * * * ] to the [ * * * ]. 
 Paragraphs [ * * * ]. As a substitute for Company’s [ * * * ], Company will instead [ * * * ] and [
* * * ] to assume [ * * * ] and other [ * * * ] under the Contract if they have [ * * * ]. Notwithstanding the above, all other terms and conditions in paragraphs [ * * * ] will remain unchanged. 
 Paragraph [ * * * ]. In those situations where a [ * * * ] is [ * * * ] - Company will [ * * * ] the [ * * * ] and its [ * * * ] by [ * * * ] and [
* * * ] the applicable [ * * * ]. Notwithstanding the above, all other terms and conditions in paragraph [ * * * ] and any other applicable provisions will remain unchanged. 
 Paragraph [ * * * ]. Company will not [ * * * ] the [ * * * ] of paragraph [ * * * ] of the Branded Jobber Contract in situations where, in the
Company’s sole opinion, Jobber [ * * * ] in the [ * * * ] the Jobber’s [ * * * ]. Notwithstanding the above, all other terms and conditions in paragraph [ * * * ] and any other applicable provision will remain unchanged. 
  

	 	5.	Paragraph 35 of the Branded Jobber Contract is added as follows: 

 35. Minimum Volume. During each period indicated in the chart below, Jobber will purchase a minimum volume of Branded Product (as defined below) (“Minimum Volume Requirement”) as specifically set forth below; provided,
however, that Jobber’s compliance with the Minimum Volume Requirement for the period ended [ * * * ] shall be 
  

	[***]	Confidential treatment requested pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with
the Commission. 

  

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 determined by multiplying the gallons of Branded Product purchased during [ * * * ] times 24. For purposes of paragraphs
35, 36, 37, 38, 44 and 45 of the Branded Jobber Contract, “Branded Product” means branded gasoline products and does not include diesel fuel (unbranded or branded) and unbranded gasoline products. 
  

					
	 Period
	  	 Minimum Volume
 Requirement
 (in
gallons)

	 From
	  	To	  
	July 1, 2005	  	Sept. 30, 2006	  	485,000,000
	Oct. 1, 2006	  	Sept. 30, 2008	  	1,074,000,000
	Oct. 1, 2008	  	Sept. 30, 2010	  	1,232,000,000
	Oct. 1, 2010	  	Sept. 30, 2012	  	1,412,000,000

  

	 	6.	Paragraph 36 of the Branded Jobber Contract is added as follows: 

 36. Minimum Volume Requirement Guarantee. In any period in which Jobber fails to purchase the Minimum Volume Requirement as set forth in paragraph 35, Jobber will pay to Company an amount equal to two cents ($.02) per gallon times
the difference between the actual volume of Branded Product purchased and the Minimum Volume Requirement during the given period. If some or all of Jobber’s failure to purchase the Minimum Volume Requirement is attributable to Company
exercising its rights under paragraph 22 of this Contract, Jobber’s [ * * * ] in the previous sentence is [ * * * ] by an amount equal to [ * * * ] per gallon times the number of gallons not purchased by Jobber due exclusively to Company
exercising its rights under paragraph 22 of this Contract. Jobber will make such payment to Company within 30 days of receiving an invoice from Company via Electronic Fund Transfer (EFT). Should a dispute arise as to whether a Minimum Volume
Requirement guarantee payment is due, or the amount thereof, such dispute shall be resolved by arbitration by three (3) independent arbitrators, one designated by the Company, one designated by the Jobber and one designated by the two
(2) so chosen. 
  

	 	7.	Paragraph 37 of the Branded Jobber Contract is added as follows: 

 37. [ * * * ]. Company will provide [ * * * ] on Jobber’s [ * * * ] as follows: 
  

	[***]	Confidential treatment requested pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with
the Commission. 

  

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	 	(a)	Effective June 11, 2004 and ending pursuant to the Term of this Third Amendment, Company will [ * * * ], beginning with the [ * * * ] and [ * * * ] notwithstanding the [ * * *
], [ * * * ]: 

 [ * * * ] 
 [ * * * ] 
 [ * * * ] 
 Company will [ * * * ] with [ * * * ] from such [ * * * ] on or about the 15th day of the month for [ * * * ] of [ * * * ] made in the previous month. The [ * * * ] will be determined by [ * * * ]. 
  

	 	(b)	Company will provide [ * * * ] ([ * * * ] which fall into one of the volume ranges listed below. The [ * * * ] on [ * * * ] during such period will be as follows:

  

					
	[ * * * ]	  	.....	  	$[ * * * ]/[ * * * ]
	[ * * * ]	  	.....	  	$[ * * * ]/[ * * * ]
	[ * * * ]	  	.....	  	$[ * * * ]/[ * * * ]

 [ * * * ] will be [ * * * ] on each anniversary of the effective date of the [ * * * ] set forth
above and [ * * * ] within thirty (30) days thereafter. The [ * * * ]. 
 For example, [ * * * ] gallons annually so [ * *
* ] would [ * * * ] as an [ * * * ] under paragraph 37(b) as follows: 
 ([ * * * ] - [ * * * ] gallons
= [ * * * ] gallons x [ * * * ] = $[ * * * ]) 
 ([ * * * ] - [ * * * ] gallons = [ * * * ]
gallons x [ * * * ] = $[ * * * ]) 
 ([ * * * ] - [ * * * ] gallons = [ * * * ] gallons x [
* * * ] = $[ * * * ]) 
 [ * * * ] will not be entitled to the [ * * * ] for any [ * * * ] below [ * * * ] gallons.

  

	[***]	Confidential treatment requested pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with
the Commission. 

  

 5 

	 	8.	Paragraph 38 of the Branded Jobber Contract is added as follows: 

 38. Credit Terms. Company will extend payment and credit terms to Jobber at [ * * * ] with a [ * * * ] % [ * * * ] on total purchases of Branded Product. Jobber will provide to Company a letter of credit in the amount of $[ * * * ].
Company may increase the required amount of the letter of credit on a quarterly basis based upon the incremental volume purchased during that previous quarter. Thereafter, Company will review Jobber’s purchases on a quarterly basis and may
require increases in the amount of the Letter of Credit commensurate with any new volume of Branded Product purchased during the previous quarter. 
  

	 	9.	Paragraph 39 of the Branded Jobber Contract is added as follows: 

 39. Site Reimage and JOIP. Upon Company approval, Jobber will be eligible to receive reimbursement for, and Company will pay, an amount equal to (a) Jobber’s actual costs (based on actual invoices) for converting a non-BP
branded site to a BP branded retail site, up to a maximum amount of $[ * * * ] per reimaged site, and (b) [* * *] percent ([* * *] %) of any non-BP unamortized liability related to such site and for which Jobber is obligated, up to a maximum
amount of $[ * * * ] per reimaged site. The parties will execute a Jobber Outlet Incentive Contract (“JOIP Contract”) for each Approved Retail Site and will comply with amortization schedules set forth in such JOIP Contract, which
amortization schedules will be [ * * * ] for a [ * * * ] site (annual Branded Product volume in excess of [ * * * ] gallons) and [ * * * ] for a [ * * * ] site (annual Branded Product volume of more than [ * * * ] gallons but less than [ * * * ]
gallons). Except as specifically set forth in the previous sentence, Jobber will not be eligible for any payments or compensation under any existing or future (“JOIP”) or similar programs. 
  

	 	10.	Paragraph 40 of the Branded Jobber Contract is added as follows: 

 40. Site Acquisitions and Outstanding Obligations. Upon acquiring a BP-branded retail site, Jobber will assume any contracts and unamortized balance of Seller related to outstanding JOIP or Reimage obligations. After assuming a JOIP
or Reimage contract, Jobber and Company will amend such contract to release Company from any obligations to pay additional JOIP or Reimage funds to Jobber after the date of the contract assumption. 
  

	[***]	Confidential treatment requested pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with
the Commission. 

  

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	 	11.	Paragraph 41 of the Branded Jobber Contract is added as follows: 

 41. Promotional Programs. Except as specifically set forth in paragraphs 42 and 45 below, Jobber will not be eligible for any existing or future promotional programs offered by Company, including without limitation the co-op
advertising program for Company’s jobbers and the Growth Through Assurance program. 
  

	 	12.	Paragraph 42 of the Branded Jobber Contract is added as follows: 

 42. Advertising. Except for the co-op advertising program offered by Company for its jobbers, Jobber will participate in such Company’s then-current advertising programs on the same terms and conditions as other
Company-designated Retail Sites (“Branded Retail Sites”) displaying the brand as designated by Company. Any advertising and promotional materials or programs developed and funded by Jobber to promote the company-designed brand at
Jobber’s Branded Retail Sties will be submitted to Company for review and written approval prior to using such material or program. 
  

	 	13.	Paragraph 43 of the Branded Jobber Contract is added as follows: 

 43. [ * * * ]. For any [ * * * ] or [ * * * ] that Jobber [ * * * ] and [* * * ], Jobber will grant to Company the [ * * * ] to authorize [ * * * ] to the Company [ * * * ]. As Jobber [ * * * ] or [ * * * ], Jobber will
provide to Company information regarding the [ * * * ], [ * * * ], and such other information and data as company may require. Company will have [ * * * ] to review the information submitted and notify jobber in writing as to whether Company will
authorize the company brand for such [ * * * ]. This [ * * * ] will [ * * * ] to [ * * * ] the [ * * * ] to the [ * * * ]. 
  

	 	14.	Paragraph 44 of the Branded Jobber Contract is added as follows: 

 44. [ * * * ]. On a [ * * * ] for each [ * * * ] from which Jobber [ * * * ] and for each grade of gasoline, [ * * * ] for gasoline products at that terminal. If the [ * * * ], Company will [ * * * ] to Jobber an [ * * * ] to the [ *
* * ] for [ * * * ] purchases during the same [ * * * ]. 
 In the event that the [ * * * ], Jobber will [ * * * ] to Company an [ * * * ]
that [ * * * ]. 
  

	[***]	Confidential treatment requested pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with
the Commission. 

  

 7 

 A schedule of this [ * * * ] (as illustrated by the attached “Exhibit A”) will be prepared and
delivered by Jobber to Company within 20 business days following the end of each calendar quarter and the [ * * * ] will be made via EFT within 10 business days following receipt of the [ * * * ]. 
 [ * * * ]: 
  

							
	[ * * * ]	 	[ * * * ]	 	[ * * * ]	 	[ * * * ]
	[ * * * ]	 	[ * * * ]	 	[ * * * ]	 	[ * * * ]
	[ * * * ]	 	[ * * * ]	 	[ * * * ]	 	[ * * * ]

 [ * * * ] 
  

							
	[ * * * ]	 	[ * * * ]	 	[ * * * ]	 	[ * * * ]
	[ * * * ]	 	[ * * * ]	 	[ * * * ]	 	[ * * * ]
	[ * * * ]	 	[ * * * ]	 	[ * * * ]	 	[ * * * ]

  

	 	15.	Paragraph 45 is added to the Branded Jobber Contract as follows: 

 [ * * * ] 
  

	 	16.	Paragraph 46 is added to the Branded Jobber Contract as follows: 

 46. Brand Refresh Program. The parties acknowledge that Company may, from time to time, enhance, change or modify its Trade Identities and the visual standards for Approved Retail Sties “(Brand Refresh”). In the event that
Company imposes a Brand Refresh requirement within twelve (12) months of the expiration of the Branded Jobber Contract and Company does not offer jobbers a program in which Company shares in the cost of performing the Brand Refresh at Approved
Retail Sites, Jobber may, at its option, decline to perform the Brand Refresh at Approved Retail Sites. 
  

	[***]	Confidential treatment requested pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with
the Commission. 

  

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	D.	Entire Agreement. Except as expressly provided in this Third Amendment, all terms and conditions of the Branded Jobber Contract shall remain in full force and effect. The
Branded Jobber Contract, as amended by this Third Amendment, expresses the entire agreement of Buyer and Seller with respect to its subject matter. Neither party has made any promise or inducement which is not expressly set forth in the Branded
Jobber Contract or this Third Amendment. Upon the Amendment Date, each reference in the Branded Jobber Contract to “this Branded Jobber Contract,” “this Contract” or “this contract” shall mean and be a reference to the
Branded Jobber Contract as amended hereby. 

  

	E.	Counterparts. This Third Amendment may be executed in one or more counterparts, each of which shall be deemed an original but all of which taken shall constitute one and the
same instrument. 

  

	F.	Conflicting Terms. Notwithstanding anything herein to the contrary, to the extent that any of the terms and conditions of the Branded Jobber Contract conflict with this Third
Amendment, this Third Amendment shall control. 

  

	G.	Ratification of Branded Jobber Contract. As amended herein and hereby, Company and Jobber ratify and reaffirm the terms of the Branded Jobber Contract and acknowledge that
this Third Amendment is incorporated within the Branded Jobber Contract. 

  

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 IN WITNESS WHEREOF, the parties have caused this Third Amendment to be executed as of the Amendment Date.

  

							
	BP Products North America Inc.	    	The Pantry, Inc.
		
	 /s/ John Melo
	    	 /s / Peter J. Sodini

	Name:	  	John Melo	    	Name:	 	Peter J. Sodini
	Title:	  	President, US Fuels Operations	    	Title:	 	Chief Executive Officer

  

 10Exhibit 10.1 

AMENDED AND RESTATED CREDIT AGREEMENT

          THIS AMENDED AND RESTATED CREDIT AGREEMENT is made and entered into this 28th day of July, 2006 by and between ENTERPRISE FINANCIAL SERVICES CORP., a Delaware corporation (the “Borrower”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association (the “Lender”). 

WITNESSETH:

          WHEREAS, the Borrower desires to borrow from the Lender, (i) the amount of ELEVEN MILLION AND NO/100 DOLLARS ($11,000,000.00) in the form of a revolving credit loan to finance Borrower’s working capital requirements (the “Revolving Credit Facility”) and (ii) the amount of FOUR MILLION AND NO/100 DOLLARS ($4,000,000.00) in the form of a term loan to finance Borrower’s acquisition of NorthStar Bancshares, Inc. (the “Term Credit Facility” and, together with the Revolving Credit Facility, the “Credit Facilities”). 

          WHEREAS, the Lender is willing to provide the Credit Facilities, subject to the terms and conditions set forth herein. 

          NOW THEREFORE, in consideration of mutual agreements set forth below, the Borrower and the Lender agree as follows: 

          SECTION 1. DEFINITIONS 

          1.1          Defined Terms.  As used in this Agreement, the following terms have the following meanings: 

          “Adjusted LIBOR Rate” shall mean, for the applicable Loan, the per annum rate of interest equal to the sum of (a) the Daily Reset LIBOR Rate or the LIBOR Rate for the applicable Loan Period (as applicable) plus (b) 1.25%. 

          “Agreement” shall mean this Amended and Restated Credit Agreement, as amended, supplemented or modified from time to time. 

          “Business Day” shall mean a day other than a Saturday, Sunday or other day on which the Lender is not open to the public for carrying on substantially all of its banking functions; provided, however, that, for purposes of determining the Daily Reset LIBOR Rate, the LIBOR Rate or an applicable Loan Period for a Loan, references to Business Day shall mean any day (other than Saturday or Sunday) on which commercial banks are open for business in New York, New York. 

          “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and the regulations thereunder. 

          “Contingent Obligation” shall mean as to any Person, any obligation of such Person guaranteeing or otherwise becoming legally obligated for any Indebtedness, leases, dividends or other obligations (“primary obligations”) of any other Person (the “primary obligor”) in any 

manner, whether directly or indirectly, including, without limitation, any obligation of such Person, whether or not contingent (a) to purchase any such primary obligation or any property constituting direct or indirect security therefor, (b) to advance or supply funds (i) for the purchase or payment of any such primary obligation or (ii) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (c) to purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation or (d) otherwise to assure or hold harmless the owner of such primary obligation against loss in respect thereof. 

          “Contractual Obligation” shall mean as to any Person, any provision of any security issued by such Person or of any agreement, instrument or undertaking to which such Person is a party or by which it or any of its property is bound. 

          “Daily Reset LIBOR Loan” shall mean a Loan that accrues interest based upon the Daily Reset LIBOR Rate as an index. 

          “Daily Reset LIBOR Rate” shall mean the one-month LIBOR rate quoted by Lender from Telerate Page 3750 or any successor thereto, which shall be that one-month LIBOR rate in effect and reset each Business Day, adjusted for any reserve requirement and any subsequent costs arising from a change in government regulation.  The Lender’s internal records of applicable interest rates shall be determinative in the absence of manifest error. 

          “Default Rate” shall mean the rate per annum which is three percent (3%) per annum in excess of the then Adjusted LIBOR Rate. 

          “Environment” shall mean any water, including, but not limited to, surface water and ground water or water vapor, any land, including land surface or subsurface, stream sediments, air, fish, wildlife, plants; and all other natural resources or environmental media. 

          “Environmental Laws” shall mean all federal, state and local environmental, land use, zoning, health, chemical use, safety and sanitation laws, statutes, ordinances, regulations, codes and rules relating to the protection of the Environment and/or governing the use, storage, treatment, generation, transportation, processing, handling, production or disposal of hazardous substances, petroleum and petroleum products and the policies, guidelines, procedures, interpretations, decisions, orders and directives of federal, state and local governmental agencies and authorities with respect thereto. 

          “Event of Default” shall mean any of the events specified in Section 8, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, has been satisfied. 

          “Funding Date” means any Business Day designated by the Borrower as a day on which (a) a Revolving Loan is to be made or (b) a Loan Period is to be renewed or extended, each in accordance with the terms and conditions of this Agreement. 

2

          “Governmental Authority” shall mean any nation or government, any state or other political subdivision thereof, and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government. 

          “Governmental Regulations” means any and all laws, statutes, ordinances, rules, regulations, judgments, writs, injunctions, decrees, orders, awards and standards, or any similar requirement, of the government of the United States or any foreign government or any state, province, municipality or other political subdivision thereof or therein or any court, agency, instrumentality, regulatory authority or commission of any of the foregoing. 

          “Hedge Agreement” means any agreement between the Borrower and the Lender or any affiliate of the Lender now existing or hereafter entered into, which provides for an interest rate or commodity swap, cap, floor, collar, forward foreign exchange transaction, currency swap, cross-currency rate swap, currency option, or any combination of, or option with respect to, these or similar transactions as contemplated under this Credit Agreement, for the purpose of hedging a Borrower’s exposure to fluctuations in interest rates, currency valuations or commodity prices. 

          “Indebtedness” shall mean as to any Person, at a particular time, (a) indebtedness for borrowed money or for the deferred purchase price of property or services in respect of which such Person is an obligor and (b) obligations under leases which shall have been or should be, in accordance with generally accepted accounting principles (“GAAP”) and/or tax-basis accounting, consistently applied, recorded as capital leases in respect of which obligations such Person is liable. 

          “Interest Differential” shall mean that sum equal to the greater of zero or the financial loss incurred by Lender resulting from prepayment, calculated as the difference between the amount of interest Lender would have earned (from like investments in the Money Markets as of the first day of the LIBOR Loan) had prepayment not occurred and the interest Lender will actually earn (from like investments in Money Markets as of the date of prepayment) as a result of the redeployment of funds from such prepayment.  The Interest Differential shall not be discounted to its present value. 

          “LIBOR Loans” shall mean a Loan which accrues interest based upon the LIBOR Rate as an index. 

          “LIBOR Rate” means the one, two or three month LIBOR rate quoted by Lender from Telerate Page 3750 or any successor thereto (which shall be the LIBOR Rate in effect two Business Days prior to commencement of the applicable Loan), adjusted for any reserve requirement and any subsequent costs arising from a change in government regulation.  The Lender’s internal records of applicable interest rates shall be determinative in the absence of manifest error. 

          “Lien” shall mean any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), or preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including, without limitation, any conditional sale or other title retention agreement, and any financing lease having substantially the same economic effect as any of the foregoing). 

3

          “Loan” shall mean an advance of loan proceeds made by the Lender to the Borrower pursuant to the Revolving Note or the Term Note and this Agreement and “Loans” shall collectively refer to all such advances. 

          “Loan Documents” shall mean this Agreement, the Revolving Note, the Term Note, any Hedge Agreement and all other documents, certificates, resolutions and other agreements executed by the Borrower or any other party pursuant to or in connection with this Agreement. 

          “Loan Period” means, with respect to each LIBOR Loan, the period commencing on the Funding Date for such Loan and ending on the numerically corresponding day one (1) month, two (2) month or three (3) months thereafter matching the interest rate term selected by Borrower in the Notice of Borrowing submitted under Section 2.4; provided, however, that: 

          a.          if any Loan Period would otherwise end on a day which is not a Business Day, then the Loan Period shall end on the next succeeding Business Day unless the next succeeding Business Day falls in another calendar month, in which case the Loan Period shall end on the immediately preceding Business Day; 

          b.          if any Loan Period begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Loan Period) then the Loan Period shall end on the last Business Day of the calendar month at the end of such Loan Period; 

          c.          any Loan Period which would otherwise end after the Termination Date shall end on the Termination Date; and 

          d.          the interest rate applicable to any Loan Period shall apply from and include the first day of such Loan Period to but excluding the last day of such Loan Period. 

          “Notes” shall mean, collectively, the Revolving Note and the Term Note.  

          “Person” shall mean an individual, partnership, corporation, business trust, joint stock trust, unincorporated association, joint venture, Governmental Authority or other entity of whatever nature. 

          “Prime Rate” means the prime or base rate of interest as announced by the Lender, as in effect from time to time, which rate may not be the lowest rate charged by the Lender to any of its customers, and which Prime Rate shall change simultaneously with any change in such prime or base rate of interest. 

          “Revolving Credit Commitment” shall mean $11,000,000.00. 

          “Revolving Credit Termination Date” shall mean April 30, 2007. 

          “Revolving Note” shall mean the Amended and Restated Revolving Credit Note of even date herewith in the face amount of $11,000,000.00 from the Borrower, as maker, payable to the Lender, substantially in the form of Exhibit A. 

4

          “Requirements of Law” shall mean as to any Person, the Articles of Incorporation and Bylaws or other organizational or governing documents of such Person, and any law, treaty, rule or regulation, or determination of any arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject. 

          “Solvent” shall mean, with respect to any Person on a particular determination date, that on such date (i) the fair value of the property of such Person is greater than the total amount of debts and other liabilities, including, without limitation, contingent and unliquidated liabilities, of such Person, (ii) such Person is able to realize upon its assets and pay its debts and other liabilities, contingent obligations and other commitments as they mature in the normal course of business, and (iii) such Person does not intend to, and does not believe that it will, incur debts or other liabilities beyond such Person’s ability to pay as such debts and other liabilities mature or become due. 

          “Subsidiary” of any Person shall mean any other Person (whether now existing or hereafter organized or acquired) in which at least a majority of the securities or other ownership interests of each class having ordinary voting power or analogous rights of such other Person are owned (other than securities or other ownership interests which at the time as of which any determination is being made, are owned or have such power or right only by reason of the happening of a contingency), beneficially and of record, by such Person or by one or more of the other Subsidiaries of such Person or by any combination thereof. 

          “Subsidiary Bank” shall mean Enterprise Bank & Trust, a Missouri trust company. 

          “Subsidiary Brokerage” shall mean Millennium Holding Company, Inc., a Missouri corporation. 

          “Term Credit Commitment” shall mean $4,000,000.00. 

          “Term Note” shall mean the Promissory Note of even date herewith in the face amount of $4,000,000.00 from the Borrower, as maker, payable to the Lender, substantially in the form of Exhibit B. 

          “Term Credit Termination Date” shall mean July 28, 2009. 

          1.2      Other Definition Provisions. 

	
   
 	
  
          (a)          All terms defined in this Agreement shall have the defined meanings when used in the Revolving Note, the Term Note or any other Loan Document. 
  
	
   
 	
   
 
	
   
 	
            (b)          The words “hereof,” “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and section, subsection and exhibit references are to this Agreement unless otherwise specified. 
  

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          SECTION 2.  AMOUNT AND TERMS OF REVOLVING LOAN 

          2.1          Revolving Loan.  The Revolving Credit Facility shall be evidenced by the Revolving Note. Subject to the terms and conditions of this Agreement, the Lender agrees to make Loans to the
Borrower from time to time from and including the date hereof to but excluding the Revolving Credit Termination Date, up to, but not exceeding at any time the Revolving Credit Commitment; provided, however, that the Lender shall have no obligation to make a Loan if an Event of Default exists or would result from such Loan.  Loans may be outstanding as Daily Reset LIBOR Loans or LIBOR Loans (each, a “Type of Loan”). Within the limits of the Revolving Credit Commitment and subject to the other terms and conditions of this Agreement, under the Revolving Credit Facility may be borrowed, repaid and reborrowed by the Borrower, in its discretion, from time to time prior to the Revolving Credit Termination Date.  The Lender may, with three (3) Business Days prior notice to or the consent of Borrower, to pay any principal due under the Revolving Credit Facility, any interest due thereon or any fees, cash or expenses due from Borrower to the Lender under this Agreement. 

          2.2          Principal Payments.  Unless earlier payment is required under this Agreement, the Revolving Credit Facility shall be due and payable to the Lender on or before the Revolving Credit Termination Date.  If at any time the outstanding principal amount of the Revolving Credit Facility made by the Lender shall exceed the Revolving Credit Commitment, the Borrower shall forthwith pay to the Lender an amount not less than the amount of any such excess for application to the outstanding principal amount of the Revolving Credit Facility.  If the Loan Period for any LIBOR Loan should happen to extend beyond the Revolving Credit Facility Termination Date, such LIBOR Loan must be prepaid on the Revolving Facility Termination Date. 

          2.3          Interest. 

	
   
 	
  
               (a)          Interest   shall accrue on the outstanding and unpaid principal amount of each Loan for   the period from and including the date of such Loan to but excluding the date   such Loan is due, at a rate equal to the Adjusted LIBOR Rate.  With respect to Daily Reset LIBOR Loans,   the Adjusted LIBOR Rate shall float daily to account for any changes in the   Daily Reset LIBOR Rate. With respect to LIBOR Loans, the Adjusted LIBOR Rate   shall remain fixed for the applicable Loan Period.  Upon the occurrence and during the continuance of any Event of   Default, the outstanding principal amount of all Loans, and to the extent   permitted by applicable law, any interest payments thereon or any fees or   other amounts then due and payable hereunder shall thereafter bear interest   (including post-petition interest
in any proceeding under Title 11 of the   United States Code or other applicable bankruptcy laws) payable upon demand   at the Default Rate.
  
	
   
 	
   
 
	
   
 	
                 (b)          Interest   on each Loan shall be calculated on the basis of a year of 360 days and the   actual number of days elapsed.
  
	
   
 	
   
 
	
   
 	
  
               (c)          Accrued   interest shall be due and payable in arrears upon any payment of principal or   conversion from one Type of Loan to another and (i) for each Daily Reset   LIBOR Loan or Loan accruing interest at the Prime Rate, on the last day of   each calendar quarter, and (ii) for each LIBOR Loan, on the last day of each   Loan Period with respect thereto.
  

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          2.4          Borrowings.  In order to obtain a Loan under the Revolving Credit Facility, the Borrower shall give the Lender written notice (which may be a telecopy) of each borrowing to be made hereunder.  Each such notice shall be in the form of a “Notice of Borrowing” in substantially the form of Exhibit C hereto, executed by two authorized officers or representatives of the Borrower, specifying therein (i) the requested date of the proposed Loan, (ii) the aggregate amount of the proposed Loan, and (iii) if a LIBOR Loan, the Loan Period therefor.  Subject to the conditions of this Agreement, the Lender shall make the amount of the Loan available to the Borrower on the date of such Loan in immediately available funds.   

          2.5          Prepayments and Conversions.  Subject to Section 4.3 hereof, the Borrower shall have the right to make prepayments of principal on any Loan, in whole or in part, without payment of any penalty or premium, or to convert one Type of Loan into another Type of Loan, at any time or from time to time; provided, however, that each partial prepayment shall be in an amount of at least $100,000, and if greater than $100,000, an integral multiple of $10,000.00, and if the Loan prepaid or converted is a LIBOR Loan, any conversion or prepayment shall be in the full amount of such LIBOR Loan. The Borrower shall give the Lender notice of each such prepayment or conversion as provided in Section 2.9. Each such notice shall be in the form of a “Notice of Prepayment” in substantially the form of Exhibit C hereto, specifying

therein (i) the date such prepayment will be made, (ii) the amount of such prepayment and (iii) the Type of Loan being prepaid.  The Borrower shall not have the right to convert one Type of Loan into another Type of Loan during the continuance of an Event of Default. 

          2.6          Loan Periods; Renewals. 

	
   
 	
  
               (a)          In   the case of each LIBOR Loan, the Borrower shall select a Loan Period of any   duration in accordance with the definition of Loan Period in Section 1.1.
  
	
   
 	
   
 
	
   
 	
  
               (b)          Provided   that no Event of Default has occurred and is continuing, upon notice to the   Lender as provided in Section 2.9, the Borrower may renew any Loan on the   last day of the Loan Period therefor as a Loan with a Loan Period of the same   or different duration in accordance with the limitations provided in the   definition of Loan Period in Section 1.1. If the Borrower shall fail to give   notice to the Lender of such a renewal or, if an Event of Default has   occurred and is continuing, such Loan shall automatically become, as of the   last day of the then current Loan Period, a Loan based upon the same Loan   Period as the Loan then expiring.
  

          2.7          Default Rate.  If an “Event of Default” as defined in Section 1.1 shall have occurred and be continuing, the Borrower shall pay interest at the Default Rate.  In no event shall the rate of interest exceed the maximum rate permitted by applicable law.  If the Borrower pays to the Lender interest in excess of the amount permitted by applicable law, such excess shall be applied in reduction of the principal balance of the Credit Facilities (as the Lender may elect), and any remaining excess interest, after application thereof to the principal balance of the Credit Facilities, shall be refunded to the Borrower. 

          2.8          Payments.  All payments (including prepayments) by the Borrower on account of principal, interest and fees shall be made without set-off or counterclaim to the Lender at its office referred to in Section 10.2 in lawful money of the United States of America and in immediately available funds. 

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          2.9          Certain Notices.  Notices by the Borrower to the Lender pursuant to Section 2.4, each prepayment pursuant to Section 2.5 and each renewal pursuant to Section 2.6(b) shall be irrevocable and shall be effective only if received by the Lender not later than 10:00 a.m. St. Louis, Missouri time, and (a) in the case of borrowings and prepayments of, conversions into and (in the case of LIBOR Loans) renewals of (i) Daily Reset LIBOR Loans, given on the Business Day thereof; and (ii) LIBOR Loans, given two (2) Business Days prior thereto.  Each such notice shall specify the Loans to be borrowed, prepaid, converted or renewed and the amount (subject to Section 2.10) and Type of Loans to be borrowed, converted, prepaid or renewed (and in the case of conversion, the Type of Loans to result from such conversion and in the case of LIBOR Loans, the Loan Period therefor) and the date of the borrowing, prepayment, conversion or renewal (which shall be a Business Day), in the case of a borrowing, such additional information as may be required by Section 2.4. 

          2.10          Minimum Amounts.  Each Daily Reset LIBOR Loan (or Prime Rate Loan) shall be in the minimum amount of $50,000.00, and if greater than $50,000.00, an integral multiple of $5,000. Each LIBOR Loan shall be in the minimum amount of $100,000, and if greater than $100,000, an integral multiple of $10,000.  In addition, there shall be no more than ten (10) LIBOR Loans under the Revolving Credit Facility outstanding at any time. 

          2.11          Use of Proceeds.  The proceeds of the Loans described herein shall be used by the Borrower to finance general working capital purposes of the Borrower and to make capital investments from time to time in the Subsidiary Bank. 

          SECTION 3.  AMOUNT AND TERMS OF TERM CREDIT FACILITY 

          3.1          Term Loan.  The Term Credit Facility shall be evidenced by the Term Note.  Subject to the terms and conditions of this Agreement, the Lender agrees to make the Term Credit Facility to the Borrower up to, but not exceeding at any time the Term Credit Facility Commitment; provided, however, that the Lender shall have no obligation to provide the Term Credit Facility if an Event of Default exists as of the date of this Agreement.  The Term Credit Facility may be outstanding as a Daily Reset LIBOR Loan or LIBOR Loan Credit Facility. 

          3.2          Principal Payments.  Unless earlier payment is required under this Agreement, the Term Credit Facility shall be due and payable to the Lender on the Term Credit Facility Termination Date. 

          3.3          Incorporation of Terms.  The provisions contained in Sections 2.3, 2.5, 2.6, 2.7, 2.8 and 2.9 shall apply to the Term Credit Facility and such provisions are hereby incorporated within this Section 3.3 by this reference; provided, however, notwithstanding such incorporated provisions, only one Loan and Type of Loan may be outstanding under the Term Credit Facility at any time. 

          3.4          Use of Proceeds.  The proceeds of the Term Credit Facility described herein shall be used by the Borrower to finance the acquisition by Borrower of NorthStar Bancshares, Inc. 

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          SECTION 4.  YIELD PROTECTION; ILLEGALITY; ETC. 

          4.1          Additional Costs.  If the Lender shall determine in good faith that any Governmental Regulation not presently in effect or applicable to the Lender, or any interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by the Lender with any new guideline, request or directive of any such authority (whether or not having the force of law), shall (i) affect the basis of taxation of payments to the Lender of any amounts payable by the Borrower under this Agreement or any other Loan Document (other than taxes imposed on the overall net income of the Lender, by the jurisdiction, or by any political subdivision or taxing authority of any such jurisdiction, in which the Lender has its principal office), or (ii) impose, modify or deem applicable any reserve,
special deposit or similar requirement against assets of, deposits with or for the account of, or credit extended by the Lender, or (iii) impose any other condition with respect to this Agreement, the Commitment, the Loans, and the result of any of the foregoing is to increase by an amount deemed by the Lender to be material the costs to the Lender of providing the Commitment or making, funding or maintaining the Loans or to reduce by an amount deemed by the Lender to be material the amount of any sum receivable by the Lender under this Agreement, then the Borrower shall pay to the Lender, such additional amounts as are sufficient to compensate the Lender for such increased cost or reduced sum receivable. A statement as to the amount of such increased cost or reduced sum receivable, prepared in good faith and in reasonable detail by the Lender and submitted to the Borrower, shall be conclusive and binding for all purposes absent manifest error in computation. 

          4.2          Illegality and Impossibility. 

	
   
 	
  
               (a)          If   the Lender shall determine in good faith that any Governmental Regulation not   presently in effect or applicable to the Lender, or any interpretation or   administration thereof by any governmental authority charged with the   interpretation or administration thereof, or compliance by the Lender with   any new guideline, request or directive of such authority (whether or not   having the force of law), including exchange controls, shall make it unlawful   or impossible for the Lender to maintain the Loans at the LIBOR Rate or the   Daily Reset LIBOR Rate under this Agreement, the Borrower shall, upon receipt   of notice thereof from the Lender, repay in full to the Lender the then   outstanding principal amount of such Loan, together with all accrued interest   thereon to the date of payment and all amounts
due to the Lender under   Section 4.3: (i) on the last day of the then current Loan Period applicable   to a LIBOR Loan if the Lender may lawfully continue to maintain such LIBOR   Rate Loan to such day, or (ii) immediately if the Lender may not continue to   maintain such LIBOR Loan or if the Loan is a Daily Reset LIBOR Loan.
  
	
   
 	
   
 
	
   
 	
  
               (b)          Notwithstanding   Section 4.2(a), if such section would otherwise be applicable, but the Lender   could lawfully maintain the Loans based upon the LIBOR Rate or the Daily   Reset LIBOR Rate at the Prime Rate, then during such period as the Lender   cannot maintain the Loans based upon the LIBOR Rate or the Daily Reset LIBOR Rate,   as applicable, such Loans shall bear interest at a per annum rate equal to   the Prime Rate in effect from time to time less one and one-half of one   percent (1.50%) in effect. If all events or conditions making it unlawful or   impossible for the Lender to
  

9

	
   
 	
  
maintain the Loans based upon the LIBOR Rate or the Daily Reset LIBOR   Rate cease to exist, then the Loans shall again bear interest at the Adjusted   LIBOR Rate commencing on (i) the first day of the Loan Period immediately   following the date all such events and conditions so cease to exist with   respect to LIBOR Loans and (ii) on the day following the date all such events   and conditions so cease to exist with respect to Daily Reset LIBOR Loans.
  

          4.3          LIBOR Rate Indemnity.  If the Borrower fails to make any payment of principal or interest in respect of any Loan based upon a LIBOR Rate when due or makes any payment or prepayment of the principal of any such Loan, for any reason, on any date other than the last day of the Loan Period applicable thereto, or if the Borrower fails to borrow any Loan based upon the LIBOR Rate after requesting the same in accordance with this Agreement, the Borrower shall reimburse the Lender on demand for any resulting loss or expense incurred by the Lender, including any loss incurred in obtaining, liquidating or employing deposits from third parties.  A statement as to the amount of such loss or expense, prepared in good faith and in reasonable detail by the Lender and submitted to the Borrower, shall be conclusive and binding for all purposes
absent manifest error in computation.  Without limiting the foregoing, if a LIBOR Loan is prepaid prior to the end of the Loan Period for such LIBOR Loan, whether voluntarily or because prepayment is required due to the occurrence of the Termination Date or on account of a default, Borrower agrees to pay all of Lender’s costs, expenses and Interest Differential, as determined by Lender, incurred as a result of such prepayment. 

          SECTION 5.  REPRESENTATIONS AND WARRANTIES 

          In order to induce the Lender to enter into this Agreement and to make each Loan herein provided for, the Borrower hereby represents and warrants to the Lender (for itself and on behalf of the Subsidiary Bank where applicable) that: 

          5.1          Financial Condition. 

	
   
 	
  
               (a)          The   financial statements of the Borrower as of the fiscal year ending December   31, 2005 and for the quarter ending March 31, 2006, copies of which have   heretofore been furnished to the Lender, are each true, complete and correct,   in all material respects, and present fairly the financial condition of the   Borrower as at such date, and the results of its operations and changes in   financial position for the fiscal year and the quarter then ended.
  
	
   
 	
   
 
	
   
 	
  
               (b)          All   financial statements of the Borrower referenced in (a) above, including the   related schedules and notes thereto, have been prepared in accordance with   generally accepted accounting principles applied consistently throughout the   periods involved.  The Borrower has   not incurred any material Contingent Obligation, contingent liabilities or   liability for taxes, long-term leases or unusual forward or long-term   commitments, which are not reflected in the foregoing statements or in the   notes thereto.
  

          5.2          No Change.  Since December 31, 2005, there has been no material adverse change in the business, operations, assets or financial or other condition of the Borrower. 

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          5.3          Existence; Compliance with Law.  The Borrower (a) is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, (b) has the power and authority and the legal right to own and operate its property, to lease the property it operates and to conduct the business in which it is currently engaged, (c) is duly qualified as a foreign entity and is in good standing under the laws of each jurisdiction where ownership, lease or operation of property or the conduct of its business requires such qualification except to the extent that the failure to comply therewith would not, in the aggregate, have a material adverse impact on its business operations, property or financial or other condition and would not materially adversely affect the ability of the Borrower to perform its obligations under this Agreement, and (d) is in compliance with all Requirements of Law except to the extent that the failure to comply therewith would not, in the aggregate, have a material adverse effect on its business, operations, property or financial or other condition and would not materially adversely affect the ability of the Borrower to perform its obligations under this Agreement. 

          5.4          Authorization; Enforceable Obligations.  The Borrower has the power and authority and the legal right to make, deliver and perform this Agreement, the Revolving Note, the Term Note and the Loan Documents to be executed by Borrower.  No consent or authorization of, filing with, or other act by or in respect of any Governmental Authority, is required in connection with the borrowings hereunder or with the execution, delivery or performance by the Borrower of this Agreement, the Revolving Note, the Term Note and the Loan Documents, or with the validity of this Agreement, the Revolving Note, the Term Note and the Loan Documents, or with the enforceability against the Borrower of this Agreement, the Revolving Note, the Term Note and the Loan Documents. Each of the Loan Documents has been, or will be, duly executed and delivered on behalf of the Borrower and when executed and delivered will constitute, legal, valid and binding obligations of the Borrower enforceable against them in accordance with their terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally or by the unavailability of specific performance or other equitable remedies. 

          5.5          No Legal Bar.  The execution, delivery and performance by the Borrower of the Loan Documents, the borrowings by the Borrower and the Borrower’s use of the proceeds of such borrowings, will not result in a violation of any Requirements of Law or any Contractual Obligation of the Borrower the violation of which would have a material adverse effect on the business, operations, property or financial or other condition of the Borrower, and will not result in, or require the creation or imposition of any Lien on any of its properties or revenues pursuant to any Requirements of Law or Contractual Obligation. 

          5.6          No Material Litigation.  No litigation, investigation or proceeding of or before any arbitrator or Governmental Authority is pending or to the knowledge of the Borrower threatened by or against the Borrower or against any of its properties or revenues (a) with respect to any Loan Document or any of the transactions contemplated hereby or thereby, or (b) which, if adversely determined, would have a material adverse effect on the business, operations, property or financial or other condition of the Borrower. 

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          5.7          No Default.  The Borrower is not in default under or with respect to any Contractual Obligation in any respect which could be materially adverse to its business, operations, property or financial or other condition or which could materially adversely affect the ability of the Borrower to perform its obligations under any Loan Document.  No Event of Default has occurred and is continuing. 

          5.8          No Burdensome Restrictions.  To the best knowledge of the Borrower, the Borrower is not currently subject to any Contractual Obligation or other Requirements of Law that materially affects its business, operations, property or financial or other condition in an adverse material manner. 

          5.9          Taxes.  The Borrower has filed or caused to be filed all tax returns which are required to be filed by it and which the failure to file would have a material adverse effect on its business, operations, property or financial or other condition, and has paid all taxes shown to be due and payable on said returns or on any assessments made against it or any of its property and all other taxes, fees or other charges imposed on it or any of its property by any Governmental Authority (other than those the amount or validity of which is currently being contested in good faith by appropriate proceedings and with respect to which reserves have been provided on the books of the Borrower), and no tax liens have been filed and no claims are being asserted with respect to any such taxes, fees or other charges. 

          5.10          Exhibits and Information.  The information contained in the exhibits attached hereto and incorporated herein by reference is true, accurate and complete in all material respects, and the information contained in each and every document, report, certificate, schedule, letter or other written or oral communication delivered to the Lender at any time pursuant to this Agreement shall be true, accurate and complete in all material respects. 

          5.11          Disclosure.  No representation or warranty by the Borrower contained herein or in any certificate or other document furnished by the Borrower pursuant hereto contains any untrue statement of material fact or omits to state a material fact necessary to make such representation or warranty not misleading in light of the circumstances under which it was made. 

          5.12          Compliance with Environmental Laws.  To the knowledge of the Borrower i) the Borrower is not in violation of any applicable Environmental Law, and ii) there have been no exposure(s), that have resulted or are expected to result in claim(s) against the Borrower, of any person to any hazardous material at any time located or disposed on or released or migrating from any personal or real property while owned or operated by the Borrower, which in the case of either clause (i) or (ii) would, in the aggregate, have a material adverse effect on the business, operations, property, assets or financial or other condition of the Borrower. 

          5.13          Solvency.  The Borrower is and will be Solvent both before and after giving effect to the transactions contemplated by the Loan Documents. 

          5.14          Investment Company Act.  The Borrower is not an “investment company” or a company “controlled” by an “investment company,” within the meaning of the Investment Company Act of 1940, as amended. 

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          5.15          Ownership of Property; Liens.  The Borrower has good record and marketable title in fee simple to, or valid leasehold interests in, all real and personal property necessary or used in the ordinary conduct of its business, except for such defects in title as would not, individually or in the aggregate, have a material adverse effect on the business of the Borrower.  As of the date of this Agreement, the property of the Borrower is subject to no Liens. 

          5.16          Insurance.  The properties of the Borrower and the Subsidiary Bank are insured with financially sound and reputable insurance companies, not affiliates of the Borrower, in such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where the Borrower and the Subsidiary Bank operate. 

          5.17          Margin Regulations.  The Borrower is not engaged and will not engage in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the Board), or extending credit for the purpose of purchasing or carrying margin stock. 

          5.18          Subsidiary Bank.  The primary operating Subsidiary of the Borrower is the Subsidiary Bank. The Subsidiary Bank (i) has issued and outstanding 83,118 shares of common stock, par value $50 per share, which are duly authorized, validly issued, fully paid and nonassessable, of which the Borrower owns all such shares free and clear of any liens, charges, encumbrances, rights of redemption, preemptive rights or rights of first refusal of any kind or nature whatsoever; (ii) has no shares of capital stock (common or preferred), or securities or other obligations convertible into any of the foregoing, authorize or outstanding and has no outstanding offers, subscriptions, warrants, rights or other agreements or commitments, obligating it to issue or sell any of the foregoing. The Subsidiary Bank (i) is duly organized and existing as a
Missouri trust company, (ii) is in compliance in all material respects with all laws and regulations applicable to its business, (iii) is not currently subject to any claim, action, suit or proceeding at law, in equity or before any regulatory authority which, if adversely determined, would have a material adverse effect on the business, operations, property or financial or other condition of the Subsidiary Bank and (iv) is not in receipt of any recommendations or suggestions of a material nature from a regulatory authority, nor has it entered into a memorandum of understanding or similar arrangement with any regulatory authority relating to unsafe or unsound banking practice. 

          5.19          FDIC Insurance.  The Subsidiary Bank is insured as to deposits by the Federal Deposit Insurance Corporation and no act has occurred which could adversely affect the status of the Subsidiary Bank as an insured bank. 

          SECTION 6.  CONDITIONS PRECEDENT

          6.1          Conditions Precedent to Funding.  The obligation of the Lender to close and initially fund the Loan is subject to the satisfaction of the following conditions precedent: 

	
   
 	
                 (a)          Borrower’s   General Certificate.  The Borrower shall have furnished to the Lender a   certificate of the Borrower’s Secretary, which shall certify (i) resolutions   of the Borrower’s Board of Directors with respect to the Credit Facilities,   and (ii) copies of the Borrower’s organizational documents referenced in   Section 6.1(b) below.
  

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               (b)          Borrower   Organizational Documents.  The Borrower shall have furnished to the Lender   (i) a copy of the Certificate of Incorporation of the Borrower, certified by   the Delaware Secretary of State; (ii) a copy of Borrower’s Bylaws; (iii)   Certificates of Good-Standing for the Borrower issued by the Secretary of   State of the State of Delaware and the Secretary of State of the State of   Missouri and (iv) such other documents as the Lender may reasonably request.
  
	
   
 	
   
 
	
   
 	
  
               (c)          Representations   and Warranties.  The representations and warranties made by the Borrower   herein or which are contained in any certificate, document or financial or   other statement furnished in connection herewith, shall be correct on and as   of the date thereof.
  
	
   
 	
   
 
	
   
 	
                 (d)          Loan   Documents.  The Borrower shall have executed and delivered to the Lender   all Loan Documents, in form and content satisfactory to the Lender and its   counsel.
  
	
   
 	
   
 
	
   
 	
  
               (e)          Additional   Matters.  All other documents and legal matters in connection with the   transactions contemplated by this Agreement shall be satisfactory in form and   substance to the Lender and its counsel.
  

          SECTION 7.  AFFIRMATIVE COVENANTS 

          The Borrower hereby agrees that, so long as this Agreement remains in effect, the Revolving Note or the Term Note remain outstanding and unpaid, or any other amount is owing to the Lender hereunder, the Borrower shall take, and cause the Subsidiary Bank to take, the following actions: 

          7.1          Financial Statements.   Furnish to the Lender: 

	
   
 	
  
               (a)          As   soon as available, and in any event within one hundred twenty (120) days   after the close of each fiscal year of the Borrower, a copy of the   consolidated financial statements of the Borrower as of the close of such   fiscal year which shall include a balance sheet and statements of income and   cash flow of the Borrower for such fiscal year, in each case, prepared in   accordance with GAAP, consistently applied, and audited by an independent   certified public accountant selected by the Borrower and acceptable to the   Lender; and
  
	
   
 	
   
 
	
   
 	
                 (b)          As   soon as available, and in any event within sixty (60) days after the close of   each calendar quarter, quarterly call reports prepared on FFIEC forms, or any   successors thereto, of the Subsidiary Bank, each prepared in accordance with   the guidelines of any regulatory authority requiring such reports.
  
	
   
 	
   
 
	
   
 	
  
               (c)          As   soon as available, copies of all reports or information of a material nature   submitted or filed with the Securities Exchange Commission or other   regulatory authority or with any national securities exchange and form FRY-9C   or form FRY-9P, as appropriate, which are the financial statements of the   Borrower delivered to the Federal Reserve System.
  

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               (d)          Promptly,   and in any event within ten (10) days after the Borrower has knowledge   thereof, a statement of the chief financial officer of the Borrower   describing: (i) any event, which, either of itself, or with the lapse of time   or the giving of notice or both, would constitute a default hereunder or   under any other material agreement to which the Borrower or the Subsidiary   Bank is a party, together with a statement of the actions which the Borrower   proposes to take with respect thereto and (ii) any pending or threatened   litigation or administrative proceeding of the type described in Section 5.6   above;
  
	
   
 	
   
 
	
   
 	
                 (e)          Notice   of any memorandum of understanding or any other agreement with any banking   regulatory agencies, or cease and desist order, immediately after entered   into by or issued against the Borrower or the Subsidiary Bank.
  
	
   
 	
   
 
	
   
 	
  
               (f)          Promptly   after request therefor, any other information concerning the financial   condition of the Borrower or the Subsidiary Bank as the Lender may reasonably   request.
  

          7.2          Taxes.  Cause to be promptly paid and discharged all of Borrower’s and the Subsidiary Bank’s taxes, assessments and other governmental charges prior to the date on which penalties are attached thereto, establish adequate reserves for the payment of such taxes, assessments and other governmental charges and make or cause to be made all required withholding and other tax deposits; provided, however, that nothing contained herein shall require the payment of any tax, assessment or other governmental charge so long as its validity is being contested in good faith, and by appropriate proceedings diligently conducted, and adequate reserves for the payment thereof have been established. 

          7.3          Payment of Obligations.  Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all of Borrower’s and the Subsidiary Bank’s, Indebtedness and other obligations of whatever nature, except when the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves with respect thereto have been provided on the books of the Borrower, or the Subsidiary Bank, and except to the extent that the failure to pay, discharge or otherwise satisfy such Indebtedness and other obligations would not, in the aggregate, have a material adverse effect on the business, operations, property or financial or other condition of the Borrower or the Subsidiary Bank, as applicable. 

          7.4          Conduct of Business and Maintenance of Existence.  Continue to engage in business of the same general type as now conducted by Borrower and the Subsidiary Bank, and preserve, renew and keep in full force and effect their existence and take all reasonable action to maintain all rights, privileges and franchises necessary or desirable in the normal conduct of their business; comply with all Contractual Obligations and Requirements of Law except to the extent that failures to comply therewith does not, in the aggregate, have a material adverse effect on the business, operations, property or financial or other condition of the Borrower or the Subsidiary Bank. 

          7.5          Books and Records; Discussions.  Keep proper books of record and account in which full, true and correct entries in conformity with all Requirements of Law and with GAAP, consistently applied, shall be made of all dealings and transactions in relation to Borrower’s and the Subsidiary Bank’s business and activities; and to discuss the business, operations, properties and financial and other condition of the Borrower and the Subsidiary Bank with officers, partners and 

15

employees of the Borrower and the Subsidiary Bank. The Lender agrees to treat as confidential all information received pursuant to Section 7.1 and this Section 7.5 and agrees not to disclose such information without the Borrower’s consent, and to make no competitive use thereof; provided, however, the Lender may disclose such information without the Borrower’s consent, (i) to the Lender’s independent auditors and attorneys in their capacity of providing accounting or legal advice to the Lender, (ii) to or pursuant to the request of any governmental authority having jurisdiction over Lender, or (iii) pursuant to an order or legal process binding on the Lender by any court of competent jurisdiction. 

          7.6          Insurance.  Maintain or cause to be maintained, with reputable insurers, insurance with respect to the Borrower’s and the Subsidiary Bank’s properties and business against such casualties and contingencies, of such types and in such amounts as is customary in the Borrower’s reasonable judgment for businesses of established reputations engaged in the same or similar business and similarly situated. 

          7.7          Compliance with Environmental Laws.  The Borrower and the Subsidiary Bank will promptly comply with all applicable Environmental Laws, the violation of which individually or in the aggregate would have a material adverse effect on the business, operations, property, assets or financial or other condition of the Borrower or the Subsidiary Bank. 

          7.8          Licenses, Permits, etc.   The Borrower and the Subsidiary Bank shall maintain all of its franchises, grants, authorizations, licenses, permits, easements, consents, certificates, trademarks, trademark rights, patents, patent rights, trade names, trade name rights and approvals, if any, in full force and effect until their respective expiration dates, except where the failure to maintain any of them would not result in a material adverse effect on the business, operations, property, assets or financial or other condition of the Borrower or the Subsidiary Bank. 

          SECTION 8.  NEGATIVE COVENANTS 

          The Borrower hereby agrees that, so long as this Agreement remains in effect, the Revolving Note remains outstanding and unpaid, or any other amount is owing to the Lender hereunder, the Borrower shall not, or allow the Subsidiary Bank to, directly or indirectly: 

          8.1          Restriction on Indebtedness.  Create, incur, assume or have outstanding any indebtedness for borrowed money (including capitalized leases) except (i) indebtedness under the Revolving Note or the Term Note issued under this Agreement, (ii) other indebtedness to the Lender, (iii) fed funds transactions in the ordinary course of business, (iv) indebtedness owing to any Federal Home Loan Bank (or any successor thereto), (v) indebtedness on account of the Subsidiary Bank maintaining deposit accounts in the ordinary course of business, (vi) any other indebtedness outstanding on the date hereof, and shown on the Borrower’s financial statements delivered to the Lender prior to the date hereof, together with restatements, substitutions and refinancings of such indebtedness, (vii) the issuance of an additional $4,000,000.00 of presently
contemplated trust preferred securities, and (viii) up to an additional $10,000,000.00 of additional trust preferred securities or other indebtedness. 

16

          8.2          Restriction on Liens.  Create, incur, assume or permit to exist any mortgage, pledge, encumbrance or other lien or levy upon or security interest in any of the its property, now owned or hereafter acquired, except (i) taxes and assessments which are either not delinquent or which are being contested in good faith with adequate reserves provided, (ii) easements, restrictions and minor title irregularities which do not, as a practical matter, have an adverse effect upon the ownership and use of the affected property, (iii) Liens in favor of the Lender or its affiliates, and (iv) other Liens disclosed in writing to the Lender or reflected in the Borrower’s financial statements provided to Lender prior to the date hereof. Without limiting the foregoing in any respect, the Borrower shall not create, incur or permit to exist any pledge, security interest, encumbrance or other charge upon its ownership interest in the Subsidiary Bank. 

          8.3          Restriction on Contingent Obligations.  Incur a Contingent Obligation, except pursuant to the deposit and collection of checks, the issuance or confirmation of letters of credit by the Subsidiary Bank and similar matters in the ordinary course of banking business. 

          8.4          Acquisitions and Investments.  Acquire any other business or make any loan, advance or extension of credit to, or investment in, any other Person, including investments acquired in exchange for stock or other securities or obligations of any nature of the Borrower or the Subsidiary Bank, or create or participate in the creation of any Subsidiary or joint venture, except: 

	
   
 	
                 (a)          investments   in (i) bank repurchase agreements, (ii) savings accounts or certificates of   deposit in a financial institution of recognized standing, (iii) obligations   issued or fully guaranteed by the United States, and (iv) prime commercial   paper maturing within 90 days of the date of acquisition by the Borrower or a   Subsidiary;
  
	
   
 	
   
 
	
   
 	
  
               (b)          loans   and advances made to employees and agents in the ordinary course of business,   such as travel and entertainment advances and similar items;
  
	
   
 	
   
 
	
   
 	
  
               (c)          investments   in the Borrower by a Subsidiary;
  
	
   
 	
   
 
	
   
 	
  
               (d)          investments   by the Borrower in the Subsidiary Bank or Subsidiary Brokerage;
  
	
   
 	
   
 
	
   
 	
                 (e)          investments   shown on the most recent consolidated financial statements of the Borrower   provided to the Lender, and any substitutions or reinvestment thereof;   provided, that any such investment will not be increased to an amount in   excess of $5,000,000.00, other than as a result of appreciation;
  
	
   
 	
   
 
	
   
 	
  
               (f)          with   respect to the Subsidiary Bank, investments or loans made in the ordinary   course of banking business of the Subsidiary Bank; and
  
	
   
 	
   
 
	
   
 	
  
               (g)          aggregate   investments of less than $5,000,000 in any Person.
  

          8.5          Change in Nature of Business.  Engage in any material operations substantially different from those operations conducted on the date hereof. 

          8.6          Ownership.  Allow any material change in the ownership of the Subsidiary Bank. 

17

          SECTION 9.  EVENTS OF DEFAULT 

          Upon the occurrence of any of the following events: 

	
   
 	
  
               (a)          the   Borrower shall fail to pay, within ten (10) days after such amount is due,   any accrued interest under the Revolving Note, the Term Note or any other   amount payable hereunder; or
  
	
   
 	
   
 
	
   
 	
  
               (b)          the   Borrower shall fail to pay when such amount is due, any principal amount of   the Revolving Note or the Term Note; or
  
	
   
 	
   
 
	
   
 	
  
               (c)          any   representation or warranty made or deemed made by the Borrower in this   Agreement or which is contained in any Loan Document, certificate, document   or financial or other statement furnished at any time under or in connection   with this Agreement shall prove to have been incorrect in any material   respect on or as of the date made or deemed made; or
  
	
   
 	
   
 
	
   
 	
                 (d)          the   Borrower shall default in the observance or performance of any other   agreement contained in this Agreement, and such default shall continue   unremedied for a period of thirty (30) days after the Borrower becomes aware   of any such default; or
  
	
   
 	
   
 
	
   
 	
  
               (e)          the   occurrence of a default or event of default (whether or not such default or   event of default results in acceleration) with respect to any other   Indebtedness of the Borrower or its Subsidiaries in excess of $1,000,000.00;   or
  
	
   
 	
   
 
	
   
 	
  
               (f)          (i)   the Borrower shall commence any case, proceeding or other action (A) under   any existing or future law of any jurisdiction, domestic or foreign, relating   to bankruptcy, insolvency, reorganization or relief of debtors, seeking to   have an order for relief entered with respect to it, or seeking to adjudicate   it a bankrupt or insolvent, or seeking reorganization, arrangement,   adjustment, winding-up, liquidation, dissolution, composition or other relief   with respect to it or its debts, or (B) seeking appointment of a receiver,   trustee, custodian or other similar official for it or for all or any   substantial part of its assets, or the Borrower shall make a general   assignment for the benefit of its creditors; or (ii) there shall be commenced   against the Borrower any case, proceeding or other
action of a nature   referred to in clause (i) above which (A) results in the entry of an order   for relief or any such adjudication or appointment or (B) remains   undismissed, undischarged or unbonded for a period of sixty (60) days; or   (iii) there shall be commenced against the Borrower any case, proceeding or   other action seeking issuance of a warrant of attachment, execution,   distraint or similar process against all or any substantial part of its   assets which results in the entry of an order for any such relief which shall   not have been vacated, discharged, stayed or bonded pending appeal within   sixty (60) days from the entry thereof; or (iv) the Borrower shall take any   action in furtherance of, or indicating its consent to, approval of, or   acquiescence in, any of the acts set forth in clause (i), (ii) or (iii)   above, or (v) the Borrower shall generally not, or shall be unable to, or   shall admit in writing its inability to, pay its debts as they become due;
  

18

	
   
 	
  
               (g)          a   judgment or judgments shall be entered against the Borrower involving   liability (not paid or fully covered by insurance) of $1,000,000 or more and   such judgment or judgments shall not have been vacated, discharged, or stayed   or appealed within sixty (60) days from the entry thereof; or
  
	
   
 	
   
 
	
   
 	
  
               (h)          a   violation of a negative covenant contained in Section 8 above;
  

then, in any   such event, (a) if such event is an Event of Default specified in clause (i)   or (ii) of paragraph (f) above, this Agreement shall automatically terminate   and the Loans hereunder (with accrued interest thereon) and all other amounts   owing under this Agreement and the Notes shall immediately become due and   payable, or (b) if such event is any other Event of Default, either or both   of the following actions may be taken: (i) the Lender may, by notice of   default to the Borrower, declare this Agreement to be terminated forthwith   whereupon this Agreement shall immediately terminate; and (ii) so long as   such Event of Default shall be continuing, the Lender may, by notice of   default to the Borrower, declare the Loans
hereunder (with accrued interest   thereon) and all other amounts owing under this Agreement and the Notes to be   due and payable forthwith, whereupon the same shall immediately become due   and payable.  Except as expressly   provided above in this Section 9, presentment, demand, protest and all other   notices of any kind are hereby expressly waived.

          SECTION 10.  MISCELLANEOUS 

          10.1          Amendments and Waivers.  The Lender and Borrower may, from time to time, enter into written amendments, supplements or modifications hereto for the purpose of adding any provisions to this Agreement or the Notes or changing in any manner the rights of the Lender and the Borrower hereunder or thereunder and the Lender may execute and deliver to the Borrower a written instrument waiving, on such terms and conditions as the Lender may specify in such instrument, any of the requirements of this Agreement or the Notes or any Event of Default and its consequences. In the case of any waiver, the Borrower and the Lender shall be restored to their former position and rights hereunder and under the Notes, and any Event of Default waived shall be deemed to be cured and not continuing; but no such waiver shall extend to any subsequent or other

Event of Default, or impair any right consequent thereon. 

          10.2          Notices.  All notices, requests and demands given under this Agreement shall be given to each party referenced below and to be effective shall be in writing and, unless otherwise expressly provided herein, shall be deemed to have been duly given or made when delivered by hand, or when deposited in the mail, or when sent by facsimile, or when delivered to an overnight delivery service addressed as follows or to such other address as to which party may be hereafter notified by any other party: 

	
   
 	
  
The Borrower:
  	
  
Enterprise Financial Services Corp.
  
	
   
 	
   
 	
  150 N. Meramec
  
	
   
 	
   
 	
  
Clayton, Missouri 63105
  
	
   
 	
   
 	
  
Attention: Chief Financial Officer
  
	
   
 	
   
 	
  
Fax: 314-812-1576
  

19

	
   
 	
  
The Lender:
  	
  
U. S. Bank National Association
  
	
   
 	
   
 	
  
One U.S. Bank Plaza
  
	
   
 	
   
 	
  
Mailcode: SL-MO-T11S
  
	
   
 	
   
 	
  
St. Louis, Missouri 63101
  
	
   
 	
   
 	
  Attention: Correspondent Banking Division
  
	
   
 	
   
 	
  
Fax: 314-418-2173
  

provided that any notice, request or demand to or upon the Lender pursuant to Section 2.9 shall not be effective until received. 

          10.3          No Waiver; Cumulative Remedies.  No failure to exercise and no delay in exercising, on the part of the Lender, any right, remedy, power or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. 

          10.4          Survival of Representations and Warranties.  All representations and warranties made hereunder and in any document, certificate or statement delivered pursuant hereto or in connection herewith shall survive the execution and delivery of this Agreement and the Notes. 

          10.5          Payment of Expenses.  The Borrower agrees to pay or reimburse the Lender for all its reasonable costs and expenses incurred in connection with the enforcement or preservation of any rights under this Agreement, the Notes or any Loan Documents, including, without limitation, reasonable fees and disbursements of counsel to the Lender. 

          10.6          Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of the Borrower and the Lender, all future holders of the Notes, and their respective successors and assigns, except that the Borrower may not assign or transfer any of its rights under this Agreement without the prior written consent of the Lender. 

          10.7          Counterparts.  This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 

          10.8          Governing Law.  This Agreement, the Notes and the Loan Documents and the rights and obligations of the parties under this Agreement, the Notes and the Loan Documents shall be governed by, and construed and interpreted in accordance with, the law of the State of Missouri. 

          10.9          Set-off.  In addition to any rights or remedies of the Lender provided by law, upon the occurrence of any Event of Default, the Lender is hereby irrevocably authorized without notice to the Borrower (any such notice being expressly waived) to set off and apply all deposits in any currency and other indebtedness at any time held or owing by the Lender to or for the credit or the account of the Borrower against and on account of any obligations, liabilities and claims of the Borrower to the Lender. In support of the foregoing rights, the Lender is hereby granted a security interest in, a lien on, and a contractual right to set off against all depository account balances, cash and any other property of the Borrower now or hereafter in the possession of the Lender. 

20

          10.10       Reinstatement; Indemnification. 

	
   
 	
  
               (a)          If   for any reason the Lender repays or surrenders to or for the benefit of the   Borrower (including its trustee in bankruptcy) any payment (including,   without limitation, any payment by means of a setoff or otherwise) made to   the Lender on the indebtedness evidenced by the Notes, then the indebtedness   evidenced by the Notes shall be reinstated, and the Loan Documents shall be   reinstated and continue in full force and effect, to the extent of such   repayment or surrender.  If for any   reason the Lender is required, by any court or other governmental authority   having competent jurisdiction, to repay or surrender to any Person (excluding   the Borrower or any Person receiving such payment for the benefit of the   Borrower) any payment (including, without limitation, any payment by means of   a
setoff or otherwise) made to the Lender on the indebtedness evidenced by the   Notes, then the indebtedness evidenced by the Notes shall be reinstated, and   the Loan Documents shall be reinstated and continue in full force and effect,   to the extent of such repayment or surrender.  The provisions of this subsection 10.10(a) shall be and remain   effective notwithstanding any contrary action which may have been taken by   the Lender in reliance upon such payment, and any such contrary action so   taken shall be without prejudice to the Lender’s rights under the Loan   Documents and shall be deemed to have been conditioned upon such payment   having become final and irrevocable. The provisions of this subsection   10.10(a) shall survive the termination of this Agreement and the other Loan   Documents.
  
	
   
 	
   
 
	
   
 	
                 (b)          The   Borrower agrees to pay, indemnify and hold harmless the Lender and its   officers, directors, agents, employees, attorneys, and shareholders from and   against, any all liabilities, obligations, losses, damages, penalties,   actions, judgments, suits, costs, expenses or disbursements of any kind or   nature whatsoever (including, without limitation, reasonable counsel fees and   disbursements in connection with any litigation, investigation, hearing or   other procedure) with respect, or in any way related, to the existence, execution,   delivery, enforcement, performance and administration of this Agreement and   any other Loan Document; provided, that the Borrower shall not be liable for   any of the foregoing to the extent they arise from the gross negligence or   willful misconduct of the Lender or
its officers, directors, agents,   employees, attorneys, and shareholders, or (ii) have not, in whole or in   part, arisen out of or resulted from any act, or omission to act, of the   Borrower.  The agreements contained in   this subsection 10.10(b) shall survive termination of this Agreement and the   other Loan Documents.
  

          10.11          Headings.  Section and subsection headings used in this Agreement are for convenience only and shall not affect the construction of this Agreement. 

          10.12          Severability.  The provisions of this Agreement are independent of, and separable from, each other, and no such provision shall be affected or rendered invalid or unenforceable by virtue of the fact that for any reason any other such provision may be invalid or unenforceable in whole or in part. 

21

          10.13          Entire Agreement.  This Agreement and the other Loan Documents constitute the entire agreement and understanding between the parties hereto with respect to the transactions contemplated hereby and supersede all prior negotiations, understandings and agreements between such parties with respect to such transactions, including, without limitation, those expressed in any commitment letter delivered by the Lender to the Borrower. 

          10.14          WAIVER OF TRIAL BY JURY.  THE LENDER AND THE BORROWER, AFTER CONSULTING OR HAVING HAD THE OPPORTUNITY TO CONSULT WITH COUNSEL, KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHT ANY OF THEM MAY HAVE TO A TRIAL BY JURY IN ANY LITIGATION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE REVOLVING NOTE OR ANY OTHER LOAN DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR ANY COURSE OF CONDUCT, DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN) OR ACTIONS OF THEM. NEITHER THE LENDER NOR THE BORROWER SHALL SEEK TO CONSOLIDATE, BY COUNTERCLAIM OR OTHERWISE, ANY SUCH ACTION IN WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED. 

          10.15          U.S.A. PATRIOT Act Notice.   Lender is subject to the Act (as hereinafter defined) and hereby notifies Borrower that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that identifies Borrower, which information includes the name and address of Borrower and other information that will allow Lender to identify Borrower in accordance with the Act. 

          10.16          Prior Credit Agreement.  This Agreement amends and restates the terms, conditions and agreements of that certain Credit Agreement dated January 14, 2005 between Borrower and Lender. 

          10.17          STATUTORY NOTICE.  ORAL AGREEMENTS OR COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR TO FOREBEAR FROM ENFORCING REPAYMENT OF A DEBT INCLUDING PROMISES TO EXTEND OR RENEW SUCH DEBT ARE NOT ENFORCEABLE, REGARDLESS OF THE LEGAL THEORY UPON WHICH IT IS BASED THAT IS ANY WAY RELATED TO THE CREDIT AGREEMENT. TO PROTECT THE BORROWER AS A BORROWER AND THE LENDER AS A CREDITOR FROM MISUNDERSTANDING OR DISAPPOINTMENT, ANY AGREEMENTS WE REACH COVERING SUCH MATTERS ARE CONTAINED IN THIS WRITING, WHICH IS THE COMPLETE AND EXCLUSIVE STATEMENT OF THE AGREEMENT BETWEEN US, EXCEPT AS WE MAY LATER AGREE IN WRITING TO MODIFY. 

22

          IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written. 

	
   
 	
  
BORROWER:
  
	
   
 	
   
 	
   
 
	
   
 	
  
Enterprise Financial Services Corp.,
  
	
   
 	
  
a Delaware corporation
  
	
   
 	
   
 	
   
 
	
   
 	
   
 	
   
 
	
   
 	
  By:
  	
  
/s/ Frank H. Sanfilippo
  
	
   
 	
   
 	
  

  
	
   
 	
   
 	
  
Frank H. Sanfilippo
  
	
   
 	
   
 	
  
Chief Financial Officer
  
	
   
 	
   
 	
   
 
	
   
 	
   
 	
   
 
	
   
 	
   
 	
   
 
	
   
 	
  
LENDER:
  
	
   
 	
   
 	
   
 
	
   
 	
   
 	
   
 
	
   
 	
  
U.S. BANK NATIONAL ASSOCIATION,
  
	
   
 	
  
a national banking association
  
	
   
 	
   
 	
   
 
	
   
 	
   
 	
   
 
	
   
 	
  By:
  	
  /s/ Jaycee D. Greene
  
	
   
 	
   
 	
  

  
	
   
 	
   
 	
  Jaycee D. Greene
  
	
   
 	
   
 	
  Vice President
  

23

 

 

EXHIBIT A

[Note on following page]

A-1

AMENDED AND RESTATED 
 REVOLVING CREDIT NOTE 

	
  
$11,000,000.00
  	
  
St.   Louis, Missouri
  
	
  
 
  	
  
July   28, 2006
  

          FOR VALUE RECEIVED, THE UNDERSIGNED (the “Borrower”), hereby promises to pay, as provided in the Agreement (as defined below), to the order of U.S. BANK NATIONAL ASSOCIATION (the “Lender”) at its offices at One U.S. Bank Plaza, St. Louis, Missouri 63101 (or at such other place or places as the Lender may designate in writing) at the times set forth in the Credit Agreement dated of even date herewith among the Borrower and the Lender (as amended from time to time, the “Agreement”), in lawful money of the United States of America, in immediately available funds, the principal amount of ELEVEN MILLION AND NO/100 DOLLARS ($11,000,000.00) or, if less than such principal amount, the aggregate unpaid principal amount of all Loans made by the Lender to the Borrower pursuant to this Note and the Agreement, on the Revolving Credit Termination Date or such earlier
date as may be
required pursuant to the terms of the Agreement, and to pay interest from the date hereof on the unpaid principal amount hereof, in like money, at said office, on the dates and at the rates provided in Section 2 of the Agreement.  All or any portion of the principal amount of Revolving Loans may be prepaid or required to be prepaid as provided in the Agreement.  All capitalized terms not otherwise defined herein shall have the respective meanings set forth in the Agreement. 

          If payment of all sums due hereunder is accelerated under the terms of the Agreement or under the terms of the other Loan Documents executed in connection with the Agreement, the then remaining principal amount and accrued but unpaid interest thereon evidenced by this Note shall become immediately due and payable, without presentation, demand, protest or notice of any kind, all of which are hereby waived by the Borrower. 

          In the event this Note is not paid when due at any stated or accelerated maturity, the Borrower agrees to pay, in addition to the principal and interest, all costs of collection, including reasonable attorneys’ fees, and interest due hereunder thereon at the rates set forth above. 

          Interest hereunder shall be computed as provided in the Agreement.  Interest on all principal amounts outstanding under this Note shall be calculated on the basis of a year of 360 days and the actual number of days elapsed. 

          This Note is the Revolving Note referred to in the Agreement and is issued pursuant to and entitled to the benefits of the Agreement to which reference is hereby made for a more complete statement of the terms and conditions upon which the Loans evidenced hereby were or are made and are to be repaid.  This Note is subject to certain restrictions on transfer or assignment as provided in the Agreement. 

          Protest, notice of protest, notice of dishonor, diligence or any other formality are hereby waived by all parties bound hereon. 

          This Note amends and restates the terms and provisions of that certain Revolving Credit Note dated January 14, 2005 payable by the Borrower to the Lender in the principal amount of 

A-2

$15,000,000.00 (the “Prior Note”). This Note Shall replace the Prior Note, but shall not be construed to discharge or constitute a novation of the indebtedness evidenced by such Prior Note.

          IN WITNESS WHEREOF, the Borrower has caused this Note to be made, executed and delivered by its duly authorized representative as of the date and year first above written, all pursuant to authority duly granted. 

	
  
 
  	
  
ENTERPRISE FINANCIAL   SERVICES CORP.,
   a Delaware corporation
  
	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
/s/ Frank H. Sanfilippo
  
	
  
 
  	
  
 
  	
  

  
	
   
  	
  
 
  	
  
Frank H. Sanfilippo
  
	
  
 
  	
  
 
  	
  
Chief Financial Officer
  

A-3

EXHIBIT B

[Note on following page]

B-1

PROMISSORY NOTE

	
  
$4,000,000.00
  	
  
St.   Louis, Missouri
  
	
  
 
  	
  
July   28, 2006
  

          FOR VALUE RECEIVED, THE UNDERSIGNED (the “Borrower”), hereby promises to pay, as provided in the Agreement (as defined below), to the order of U.S. BANK NATIONAL ASSOCIATION (the “Lender”) at its offices at One U.S. Bank Plaza, St. Louis, Missouri 63101 (or at such other place or places as the Lender may designate in writing) at the times set forth in the Amended and Restated Credit Agreement dated of even date herewith among the Borrower and the Lender (as amended from time to time, the “Agreement”), in lawful money of the United States of America, in immediately available funds, the principal amount of FOUR MILLION AND NO/100 DOLLARS ($4,000,000.00) on the Term Credit Termination Date or such earlier date as may be required pursuant to the terms of the Agreement, and to pay interest from the date hereof on the unpaid principal amount hereof, in like
money, at said office,
on the dates and at the rates provided in Section 3 of the Agreement.  All or any portion of the principal amount of Term Loan may be prepaid or required to be prepaid as provided in the Agreement.  All capitalized terms not otherwise defined herein shall have the respective meanings set forth in the Agreement. 

          If payment of all sums due hereunder is accelerated under the terms of the Agreement or under the terms of the other Loan Documents executed in connection with the Agreement, the then remaining principal amount and accrued but unpaid interest thereon evidenced by this Note shall become immediately due and payable, without presentation, demand, protest or notice of any kind, all of which are hereby waived by the Borrower. 

          In the event this Note is not paid when due at any stated or accelerated maturity, the Borrower agrees to pay, in addition to the principal and interest, all costs of collection, including reasonable attorneys’ fees, and interest due hereunder thereon at the rates set forth above. 

          Interest hereunder shall be computed as provided in the Agreement.  Interest on all principal amounts outstanding under this Note shall be calculated on the basis of a year of 360 days and the actual number of days elapsed. 

          This Note is the Term Note referred to in the Agreement and is issued pursuant to and entitled to the benefits of the Agreement to which reference is hereby made for a more complete statement of the terms and conditions upon which the Term Loan evidenced hereby is made and is to be repaid. This Note is subject to certain restrictions on transfer or assignment as provided in the Agreement. 

          Protest, notice of protest, notice of dishonor, diligence or any other formality are hereby waived by all parties bound hereon. 

B-2

          IN WITNESS WHEREOF, the Borrower has caused this Note to be made, executed and delivered by its duly authorized representative as of the date and year first above written, all pursuant to authority duly granted. 

	
  
 
  	
  
ENTERPRISE FINANCIAL   SERVICES CORP.,
   a Delaware corporation
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
/s/ Frank H. Sanfilippo
  
	
  
 
  	
  
 
  	
  

  
	
  
 
  	
  
 
  	
  
Frank H. Sanfilippo
  
	
  
 
  	
  
 
  	
  
Chief Financial Officer
  

B-3

EXHIBIT C

Form of Notice of Borrowing

	
  
To:
  	
  
U. S. Bank, N.A.
  	
  
Loan   No.__________________________
  	
  
 
  
	
  
 
  	
  
One U.S. Bank Plaza
  	
  
Credit Account   No.__________________
  	
  
 
  
	
  
 
  	
  
St. Louis, Missouri 63101
  	
  
 
  	
  
 
  
	
  
 
  	
  
Facsimile No. (314)   418-8394
  	
  
 
  	
  
 
  

          Reference is hereby made to the Amended and Restated Credit Agreement dated as of July 28, 2006 (as amended from time to time, the “Agreement”) between Enterprise Financial Services Corp. (the “Borrower”) and U.S. Bank National Association (the “Lender”).  Capitalized terms used but not defined herein shall have the respective meanings therefor set forth in the Agreement. 

          The Borrower hereby gives notice to the Lender that Loans of the type and amount set forth below be made on the date indicated: 

	
  
Type of Loan (check one)
  	
   
 	
  
Interest  Period(1)
  	
   
 	
  
Aggregate   Amount(2)
  	
   
 	
  
Date of   Loan(3)
  
	
  

  	
   
 	
  

  	
   
 	
  

  	
   
 	
  

  
	
  Daily Reset LIBOR Loan
  	
  
 
  	
  
N.A.
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  

  	
  
 
  	
  

  	
  
 
  	
  

  
	
  
LIBOR Loan
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  

  	
  
 
  	
  

  	
  
 
  	
  

  

	

	
  
(1)
  	
  
For any LIBOR Loan one,   two or three months.
  
	
  
(2)
  	
  
Must be $50,000 or if   greater an integral multiple of $5,000 if a Daily Reset LIBOR Loan or   $100,000 or if greater an integral multiple of $10,000 if a LIBOR Loan.
  
	
  
(3)
  	
  
At least (3) Business Days   later if a LIBOR Loan.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
Aggregate Loans   Outstanding 
  	
  
 
  	
  
$___________________
  
	
  
 
  	
  
Aggregate Loans Requested   under this Notice 
  	
  
 
  	
  
$___________________
  
	
   
  	
  
Aggregate Loans   Outstanding after funding Loans 
  	
  
 
  	
  
 
  
	
  
 
  	
  
Referenced in this Notice
  	
  
 
  	
  
$___________________
  

The undersigned hereby certifies that: 

          1.          No Default or Event of Default exists either now or after giving effect to the borrowing described herein; and 

          2.          All the representations and warranties of the Agreement and in the Loan Documents (other than those expressly stated to refer to a particular date) are true and correct as of the date hereof. 

C-1

          3.          All conditions contained in the Agreement to the making of any Loan requested hereby have been met or satisfied in full. 

	
  
 
  	
  
Enterprise Financial   Services Corp., 
   a Delaware corporation
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  

  
	
  
 
  	
  
Name:
  	
  
 
  
	
   
  	
  
 
  	
  

  
	
  
 
  	
  
Title:
  	
  
 
  
	
  
 
  	
  
 
  	
  

  
	
  
 
  	
  
Date:
  	
  
 
  
	
  
 
  	
  
 
  	
  

  
	
  
 
  	
  
Telephone:
  	
  
 
  
	
  
 
  	
  
 
  	
  

  
	
  
 
  	
  
Fax:
  	
  
 
  
	
   
  	
  
 
  	
  

  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  

  
	
  
 
  	
  
Name:
  	
  
 
  
	
  
 
  	
  
 
  	
  

  
	
  
 
  	
  
Title:
  	
  
 
  
	
   
  	
   
  	
  

  
	
   
  	
  Date:
  	
   
  
	
   
  	
   
  	
  

  

C-2

EXHIBIT D

Form of Notice of Prepayment

	
  
To:
  	
  
U.S. Bank National   Association
  	
  
 
  	
  
Loan   No.:___________________________
  
	
  
 
  	
  
One U.S. Bank Plaza
  	
  
 
  	
  
 
  
	
  
 
  	
  
St. Louis, Missouri 63101
  	
  
 
  	
  
 
  
	
  
 
  	
  
Facsimile No. (314)   418-8394
  	
  
 
  	
  
 
  

          Reference is hereby made to the Amended and Restated Credit Agreement dated as of July 28, 2006 (as amended from time to time, the “Agreement”) between Enterprise Financial Services Corp. (the “Borrower”) and U.S. Bank National Association (the “Lender”).  Capitalized terms used but not defined herein shall have the respective meanings therefor set forth in the Agreement. 

          The Borrower hereby gives notice to the Lender that Loans of the type and amount set forth below will be prepaid on the date indicated:

	
  
Type of Loan (check one)
  	
   
 	
  
Interest   Period(1) 
	
   
 	
  
Aggregate   Amount(2)  
	
   
 	
  
Date of Prepayment(3) 

	
  

  	
  
 
  	
  

  	
  
 
  	
  

  	
  
 
  	
  

  
	
  Daily Reset LIBOR Loan
  	
  
 
  	
  
N.A.
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  

  	
  
 
  	
  

  	
  
 
  	
  

  
	
  
LIBOR Loan
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  

  	
  
 
  	
  

  	
  
 
  	
  

  

	
  
(1)
  	
  
For any LIBOR Loan one,   two or three months.
  	
  
 
  	
  
 
  
	
  
(2)
  	
  
Must be $500,000 or if   greater an integral multiple of $50,000 if a LIBOR Loan.
  	
  
 
  	
  
 
  
	
  
(3)
  	
  
At least (3) Business Days   later if a LIBOR Loan.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
Aggregate Loans   Outstanding
  	
  
 
  	
  
$__________________ 
  
	
   
  	
  
Aggregate Loans prepaid in   this Notice of Prepayment
  	
  
 
  	
  
$__________________ 
  
	
  
 
  	
  
Aggregate Loans   Outstanding After prepayments referenced 
  	
  
 
  	
  
 
  
	
  
 
  	
  
In this Notice of   Prepayment
  	
  
 
  	
  
$__________________
  

	
  
 
  	
  
Enterprise Financial   Services Corp.,
a Delaware corporation
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  

  
	
  
 
  	
  
Name:
  	
  
 
  
	
  
 
  	
  
 
  	
  

  
	
   
  	
  
Title:
  	
  
 
  
	
  
 
  	
  
 
  	
  

  
	
  
 
  	
  
Date:
  	
  
 
  
	
  
 
  	
  
 
  	
  

  
	
  
 
  	
  
Telephone:
  	
  
 
  
	
  
 
  	
  
 
  	
  

  
	
  
 
  	
  
Fax:
  	
  
 
  
	
  
 
  	
  
 
  	
  

  

D-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}]]