Document:

Exhibit
10.6

 

PROMISSORY NOTE

(Term Loan)

 

	$6,000,000.00	Dated effective as of March 16, 2016
	 	Final Maturity: March 15, 2021

 

On or before March
15, 2021 ("Final Maturity"), INDCO, INC., a Tennessee corporation ("Borrower"), promises to pay to the
order of FIRST MERCHANTS BANK, NATIONAL ASSOCIATION (the “Bank”) at the offices of the Bank at 10333 North Meridian
Street, Suite 350, Indianapolis, Indiana 46290, the principal sum of Six Million and No/100 Dollars ($6,000,000.00) or so much
of the principal amount of the Term Loan represented by this Note as may be disbursed by the Bank under the terms of the Credit
Agreement described below, and to pay interest on the unpaid principal balance outstanding from time to time as provided in the
Credit Agreement (as hereinafter defined).

 

This Note evidences
indebtedness incurred or to be incurred by the Borrower under a term loan (the "Term Loan") extended to the Borrower
by the Bank under a certain Credit Agreement dated as of the date hereof, as the same may be amended from time to time (the "Credit
Agreement"). All references in this Note to the Credit Agreement shall be construed as references to that Credit Agreement
as it has been or may be amended from time to time. The Term Loan is referred to in the Credit Agreement as the "Term Loan."
Subject to the terms and conditions of the Credit Agreement, the proceeds of the Term Loan shall be advanced in a single advance
as of the Closing Date (as defined in the Credit Agreement) and principal repaid under this Note by Borrower shall not be available
for readvance. The principal amount of the Term Loan outstanding from time to time shall be determined by reference to the books
and records of the Bank on which all advances under the Term Loan and all payments by the Borrower on account of the Term Loan
shall be recorded. Such books and records shall be rebuttably presumptive evidence of the principal amount of the Term Loan owing
and unpaid.

 

Upon the occurrence
of an Event of Default and during the continuation thereof, and after maturity, including maturity upon acceleration, Bank, at
its option, may, if permitted under applicable law, do one or both of the following: (i) increase the interest rate under this
Note to the rate that is three percent (3%) above the rate that would otherwise be payable hereunder, and (ii) add any unpaid accrued
interest to principal and such sum will bear interest therefrom until paid at the rate provided in this Note (including any increased
rate). The interest rate under this Note will not exceed the maximum rate permitted by applicable law under any circumstances.

 

The entire outstanding
principal balance of this Note shall be due and payable, together with accrued interest, at Final Maturity. Reference is made to
the Credit Agreement for the repayment terms of this Note and for provisions requiring prepayment of principal under certain circumstances.
Principal may be prepaid, but only as provided in the Credit Agreement.

 

If any installment
of interest due under the terms of this Note is not paid when due (subject to any applicable grace periods), then the Bank or any
subsequent holder of this Note may, subject to the terms of the Credit Agreement, at its option and without notice, declare the
entire principal amount of the Note and all accrued interest immediately due and payable. Reference is made to the Credit Agreement
which provides for acceleration of the maturity of this Note upon the happening of other "Events of Default" as defined
therein.

 

The Borrower and any
endorsers severally waive demand, presentment for payment and notice of nonpayment of this Note, and each of them consents to any
extensions of the time of payment of this Note without notice.

 

    	 	1	 

     

    

 

All amounts payable
under the terms of this Note shall be payable with actual expenses of collection, including reasonable attorneys' fees, and without
offset or other reduction and without relief from valuation and appraisement laws.

 

The Borrower agrees
that the Bank may provide any information the Bank may have about the Borrower or about any matter relating to this Note to Bank,
or any of its subsidiaries or affiliates or their successors, or to any one or more purchasers or potential purchasers of this
Note as deemed necessary by Bank. The Borrower agrees that the Bank may at any time sell, assign or transfer one or more interests
or participation in all or any part of its rights or obligations in this Note to one or more purchasers whether or not related
to the Bank to the extent permitted by the Credit Agreement.

 

This Note is made under
and will be governed in all cases by the substantive laws of the State of Indiana, notwithstanding the fact that Indiana conflicts
of law rules might otherwise require the substantive rules of law of another jurisdiction to apply.

 

BORROWER AND BANK
BY ITS ACCEPTANCE HEREOF HEREBY WAIVE, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY
IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS NOTE, THE CREDIT AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY AND THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). BORROWER CERTIFIES THAT NO REPRESENTATIVE,
AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 	2	 

     

    

 

[SIGNATURE PAGE – PROMISSORY NOTE
(TERM LOAN)]

 

	 	INDCO, INC.,	 
	 	a Tennessee corporation	 
	 	 	 	 
	 	By:	/s/ C. Mark Hennis	 
	 	 	C. Mark Hennis, President	 

 

	STATE OF INDIANA	)
	 	)  SS:
	COUNTY OF ______________	)

 

Before me, a Notary
Public in and for said County and State, personally appeared C. Mark Hennis, the President of INDCO, Inc., a Tennessee corporation,
who, having been duly sworn, acknowledged the execution of the foregoing instrument for and on behalf of such entity as such officer
or other representative.

 

WITNESS my hand and
Notarial Seal this ___day of March, 2016.

 

	 	_______________________________
	 	Notary Public
	 	 
	 	_______________________________
	 	Notary Public (Printed)

 

	My Commission Expires:	My County of Residence:
	 	 
	______________________	________________________________Exhibit
10.7

PROMISSORY NOTE

(Revolving Loan)

 

	$1,500,000.00	Dated effective as of February 29, 2016
	 	Final Maturity: February 28, 2021

 

On or before February 28, 2021 ("Final
Maturity"), INDCO, INC., a Tennessee corporation ("Borrower”), promises to pay to the order of FIRST
MERCHANTS BANK, NATIONAL ASSOCIATION (the “Bank”) at the offices of the Bank at 10333 North Meridian Street, Suite
350, Indianapolis, Indiana 46290, the principal sum of One Million Five Hundred Thousand and No/100 Dollars ($1,500,000.00) or
so much of the principal amount of the Revolving Loan represented by this Note as may be disbursed by the Bank under the terms
of the Credit Agreement described below, and to pay interest on the unpaid principal balance outstanding from time to time as provided
in the Credit Agreement (as hereinafter defined).

 

This Note evidences
indebtedness under a revolving line of credit loan (“Revolving Loan”) incurred or to be incurred by the Borrower under
a revolving line of credit extended to the Borrower by the Bank under a certain Credit Agreement dated as of even date, as the
same may be amended from time to time (the "Credit Agreement"). All references in this Note to the Credit Agreement shall
be construed as references to that Credit Agreement as it has been or may be amended from time to time. The Revolving Loan is referred
to in the Credit Agreement as the “Revolving Loan.” Subject to the terms and conditions of the Credit Agreement, the
proceeds of the Revolving Loan may be advanced and repaid and re-advanced until Final Maturity. The principal amount of the Revolving
Loan outstanding from time to time shall be determined by reference to the books and records of the Bank on which all advances
under the Revolving Loan and all payments by the Maker on account of the Revolving Loan shall be recorded. Such books and records
shall be rebuttably presumptive evidence of the principal amount of the Revolving Loan owing and unpaid.

 

Upon the occurrence
of an Event of Default and during the continuation thereof, and after maturity, including maturity upon acceleration, Bank, at
its option, may, if permitted under applicable law, do one or both of the following: (i) increase the interest rate under this
Note to the rate that is three percent (3%) above the rate that would otherwise be payable hereunder, and (ii) add any unpaid accrued
interest to principal and such sum will bear interest therefrom until paid at the rate provided in this Note (including any increased
rate). The interest rate under this Note will not exceed the maximum rate permitted by applicable law under any circumstances.

 

The entire outstanding
principal balance of this Note shall be due and payable, together with accrued interest, at Final Maturity. Reference is made to
the Credit Agreement for the maximum available principal amount available to Borrower under this Note and for provisions requiring
prepayment of principal under certain circumstances. Principal may be prepaid, but only as provided in the Credit Agreement.

 

If any installment
of interest due under the terms of this Note is not paid when due (subject to any applicable grace periods), then the Bank or any
subsequent holder of this Note may, subject to the terms of the Credit Agreement, at its option and without notice, declare the
entire principal amount of the Note and all accrued interest immediately due and payable. Reference is made to the Credit Agreement
which provides for acceleration of the maturity of this Note upon the happening of other "Events of Default" as defined
therein.

 

The Borrower and any
endorsers severally waive demand, presentment for payment and notice of nonpayment of this Note, and each of them consents to any
extensions of the time of payment of this Note without notice.

 

    	 	1	 

     

    

 

All amounts payable
under the terms of this Note shall be payable with actual expenses of collection, including reasonable attorneys' fees, and without
offset or other reduction and without relief from valuation and appraisement laws.

 

The Borrower agrees
that the Bank may provide any information the Bank may have about the Borrower or about any matter relating to this Note to any
of its subsidiaries or affiliates or their successors, or to any one or more purchasers or potential purchasers of this Note as
deemed necessary by Bank. The Borrower agrees that the Bank may at any time sell, assign or transfer one or more interests or participation
in all or any part of its rights or obligations in this Note to one or more purchasers whether or not related to the Bank to the
extent permitted by the Credit Agreement.

 

This Note is made under
and will be governed in all cases by the substantive laws of the State of Indiana, notwithstanding the fact that Indiana conflicts
of law rules might otherwise require the substantive rules of law of another jurisdiction to apply.

 

MAKER AND BANK BY
ITS ACCEPTANCE HEREOF HEREBY WAIVE, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY
IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS NOTE, THE CREDIT AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY AND THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). MAKER CERTIFIES THAT NO REPRESENTATIVE,
AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 	2	 

     

    

 

[SIGNATURE PAGE – PROMISSORY NOTE
(REVOLVING LOAN)]

 

	 	INDCO, INC.,	 
	 	a Tennessee corporation	 
	 	 	 	 
	 	By:	/s/ C. Mark Hennis	 
	 	 	C. Mark Hennis, President	 

 

	STATE OF INDIANA	)
	 	)  SS:
	COUNTY OF ______________	)

 

Before me, a Notary
Public in and for said County and State, personally appeared C. Mark Hennis, the President of Indco, Inc., a Tennessee corporation,
who, having been duly sworn, acknowledged the execution of the foregoing instrument for and on behalf of such entity as such officer
or other representative.

 

WITNESS my hand and
Notarial Seal this ___day of March, 2016

 

	 	_______________________________
	 	Notary Public
	 	 
	 	_______________________________
	 	Notary Public (Printed)

 

	My Commission Expires:	My County of Residence:
	 	 
	______________________	________________________________

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