Document:

Exhibit 10.32

    EXHIBIT
      10.32

    
       

      
         

        FOURTH
          AMENDED AND RESTATED

        SECURED
          REVOLVING LINE OF CREDIT NOTE

        

        

        $25,000,000.00                                                                      Chicago,
          Illinois

                                                                                         May
          17, 2005

        

        FOR
          VALUE
          RECEIVED, HURON CONSULTING GROUP INC., a Delaware
          corporation, HURON CONSULTING SERVICES LLC, a Delaware limited
          liability company f/k/a Huron Consulting Group LLC and Speltz & Weis LLC, a
          Delaware limited liability company (each of the foregoing three entities
          are
          hereby collectively referred to herein as the Borrower), jointly and severally
          promise to pay to the order of LASALLE BANK NATIONAL
          ASSOCIATION (the “Bank”), at such place as Bank may from time to time
          designate in writing, the principal sum of TWENTY-FIVE MILLION AND
          NO/100 DOLLARS ($25,000,000.00), or such lesser principal sum as may
          then be owed by Borrower to Bank hereunder. Any principal that is borrowed
          and
          repaid hereunder may be borrowed again in accordance with the terms of
          this Note
          and that certain Amended and Restated Loan and Security Agreement of even
          date
          herewith between Borrower and Bank pursuant to which this Note is being
          delivered (the "Loan Agreement"). Except as hereinafter provided, Borrower’s
          obligations and liabilities to Bank under this Note (collectively, the
          “Borrower’s Liabilities”) unpaid from time to time shall bear interest at the
          rate(s) hereinafter set forth from the date advanced, disbursed or otherwise
          incurred until paid.

        

        All
          outstanding
          principal shall be payable on or prior to February 10, 2006 (the “Maturity
          Date”).

        

        The
          amount of
          principal hereunder shall bear interest as provided in the Loan Agreement.

        

        In
          no event will
          the interest rate hereunder exceed that permitted by applicable law. If
          any
          interest or other charge is finally determined by a court of competent
          jurisdiction to exceed the maximum amount permitted by law, the interest
          or
          charge shall be reduced to the maximum permitted by law, and the Bank may
          credit
          any excess amount previously collected against the balance due or refund
          the
          amount to the Borrower.

        

        Any
          check, draft or
          similar item of payment by or for the account of Borrower delivered to
          Bank on
          account of Borrower's Liabilities shall, provided the same is honored by
          Bank
          and final settlement thereof is reflected by irrevocable credit to Bank,
          be
          applied by Bank on account of Borrower's Liabilities in accordance with
          Bank's
          funds availability schedule and in such order as Bank shall determine in
          its
          sole discretion.

        

        Borrower
          warrants
          and represents to Bank and covenants with Bank that Borrower is not in
          the
          business of extending credit for the purpose of purchasing or carrying
          margin
          stock (within the meaning of Regulation U issued by the Board of Governors
          of
          the Federal Reserve System), and no proceeds represented by this Note will
          be
          used to purchase or carry any margin stock or to extend credit to others
          for the
          purpose of purchasing or carrying any margin stock.

        

        This
          Note amends
          and restates that certain Third Amended and Restated Secured Revolving
          Line of
          Credit Note (the "Prior Note") in the principal amount of Twenty-Five Million
          and 00/100 Dollars ($25,000,000.00) dated February 10, 2005 made by Huron
          Consulting Group Inc. and Huron Consulting Services LLC in favor of Bank.
          The
          indebtedness evidenced by the Prior Note is continuing indebtedness, and
          nothing
          herein shall be deemed to constitute a payment, settlement or novation
          of the
          Prior Note, or to release or otherwise adversely affect any lien, mortgage
          or
          security interest securing such indebtedness or any rights of Bank against
          any
          guarantor, surety or other party primarily or secondarily liable for such
          indebtedness.

        

        The
          occurrence of
          an Event of Default under the Loan Agreement shall constitute an Event
          of
          Default under this Note.

        

        Upon
          an Event of
          Default hereunder, Bank shall have the rights set forth in the Loan Agreement.
          The acceptance by Bank of any partial payment made hereunder after the
          time when
          any obligation under this Note becomes due and payable will not establish
          a
          custom, or waive any rights of Bank to enforce prompt payment hereof. Borrower
          and every endorser hereof waive presentment, demand and protest and notice
          of
          presentment, protest, default, non-payment, maturity, release, compromise,
          settlement, extension or renewal of this Note.

        

        This
          Note and
          Borrower’s Liabilities hereunder are secured by all security interests,
          mortgages, liens and encumbrances heretofore, now or hereafter granted
          to Bank
          by Borrower in the Loan Agreement.

        

        Collection
          fees and
          costs (including but not limited to reasonable attorneys' fees and costs)
          incurred by Bank in connection with the collection or enforcement of this
          Note
          will be payable in accordance with the Loan Agreement.

        

        If
          any provision of
          this Note or the application thereof to any party or circumstance is held
          invalid or unenforceable, the remainder of this Note and the application
          of such
          provision to other parties or circumstances will not be affected thereby
          and the
          provisions of this Note shall be severable in any such instance.

        

        This
          Note is
          submitted by Borrower to Bank at Bank’s principal place of business and shall be
          deemed to have been made thereat. This Note shall be governed and controlled
          by
          the laws of the State of Illinois as to interpretation, enforcement, validity,
          construction, effect, choice of law and in all other respects.

        

        To
          induce Bank to
          accept this Note, Borrower irrevocably agrees that, subject to Bank's sole
          and
          absolute election, all actions or proceedings in any way, manner or respect,
          arising out of or from or related to this Note, shall be litigated in courts
          having situs within Cook County, Illinois. Borrower hereby consents and
          submits
          to the jurisdiction of any local, state or federal court located within
          said
          county and state. Borrower hereby waives any right Borrower may have to
          transfer
          or change the venue of any litigation brought against Borrower by Bank
          in
          accordance with this paragraph.

        

        [SIGNATURE
          PAGE FOLLOWS]

         

         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        

        IN
          WITNESS WHEREOF,
          each of the undersigned has executed this Note as of the date first above
          written.

        

        

        HURON
          CONSULTING GROUP INC.,
          a

        Delaware
          corporation

        

        By: /S/
          James K.
          Rojas   

        Name:
          James K. Rojas

        Its:
          VP of Corporate Development

        

        

        HURON
          CONSULTING SERVICES LLC,
          a

        Delaware
          limited liability company

        

        By: /s/
          James K.
          Rojas   

        Name:
          James K.
          Rojas          

                                        Its:
          VP of Corporate
          Development

        

         

        SPELTZ
&
WEIS
          LLC

        By:
          Huron Consulting Group Inc., its
          manager

        

        By: /s/
          James K.
          Rojas   

        Name:
          James K. Rojas

        Its:
          VP of Corporate
          DevelopmentExhibit 10.33

    EXHIBIT
      10.33

    

       

      FIFTH
        AMENDED AND RESTATED

      SECURED
        REVOLVING LINE OF CREDIT NOTE

      

      

      $25,000,000.00                                                                          Chicago,
        Illinois

                                                                                        January
        17, 2006

      

      FOR
        VALUE RECEIVED, HURON
        CONSULTING GROUP INC., a
        Delaware corporation, HURON
        CONSULTING SERVICES LLC,
        a
        Delaware limited liability company f/k/a Huron Consulting Group LLC, and
        Speltz
        & Weiss LLC,
        a
        Delaware limited liability company (each of the foregoing three entities
        are
        hereby collectively referred to herein as the Borrower), jointly and severally
        promise to pay to the order of LASALLE
        BANK NATIONAL ASSOCIATION
        (the
“Bank”), at such place as Bank may from time to time designate in writing, the
        principal sum of TWENTY-FIVE
        MILLION AND NO/100 DOLLARS ($25,000,000.00),
        or such
        lesser principal sum as may then be owed by Borrower to Bank hereunder. Any
        principal that is borrowed and repaid hereunder may be borrowed again in
        accordance with the terms of this Note and that certain Amended and Restated
        Loan and Security Agreement dated February 10, 2005 between Borrower and
        Bank,
        as amended by that certain Amendment of even date herewith pursuant to which
        this Note is being delivered (the "Loan Agreement"). Except as hereinafter
        provided, Borrower’s obligations and liabilities to Bank under this Note
        (collectively, the “Borrower’s Liabilities”) unpaid from time to time shall bear
        interest at the rate(s) hereinafter set forth from the date advanced, disbursed
        or otherwise incurred until paid.

      

      All
        outstanding principal shall be payable on or prior to May 10, 2006 (the
“Maturity Date”).

      

      The
        amount of principal hereunder shall bear interest as provided in the Loan
        Agreement.

      

      In
        no
        event will the interest rate hereunder exceed that permitted by applicable
        law.
        If any interest or other charge is finally determined by a court of competent
        jurisdiction to exceed the maximum amount permitted by law, the interest
        or
        charge shall be reduced to the maximum permitted by law, and the Bank may
        credit
        any excess amount previously collected against the balance due or refund
        the
        amount to the Borrower.

      

      Any
        check, draft or similar item of payment by or for the account of Borrower
        delivered to Bank on account of Borrower's Liabilities shall, provided the
        same
        is honored by Bank and final settlement thereof is reflected by irrevocable
        credit to Bank, be applied by Bank on account of Borrower's Liabilities in
        accordance with Bank's funds availability schedule and in such order as Bank
        shall determine in its sole discretion.

      

      Borrower
        warrants and represents to Bank and covenants with Bank that Borrower is
        not in
        the business of extending credit for the purpose of purchasing or carrying
        margin stock (within the meaning of Regulation U issued by the Board of
        Governors of the Federal Reserve System), and no proceeds represented by
        this
        Note will be used to purchase or carry any margin stock or to extend credit
        to
        others for the purpose of purchasing or carrying any margin stock.

      

      This
        Note
        amends and restates that certain Fourth Amended and Restated Secured Revolving
        Line of Credit Note (the "Prior Note") in the principal amount of Twenty-Five
        Million and 00/100 Dollars ($25,000,000.00) dated May 17, 2005 made by Borrower
        in favor of Bank. The indebtedness evidenced by the Prior Note is continuing
        indebtedness, and nothing herein shall be deemed to constitute a payment,
        settlement or novation of the Prior Note, or to release or otherwise adversely
        affect any lien, mortgage or security interest securing such indebtedness
        or any
        rights of Bank against any guarantor, surety or other party primarily or
        secondarily liable for such indebtedness.

      

      The
        occurrence of an Event of Default under the Loan Agreement shall constitute
        an
        Event of Default under this Note.

      

      Upon
        an
        Event of Default hereunder, Bank shall have the rights set forth in the Loan
        Agreement. The acceptance by Bank of any partial payment made hereunder after
        the time when any obligation under this Note becomes due and payable will
        not
        establish a custom, or waive any rights of Bank to enforce prompt payment
        hereof. Borrower and every endorser hereof waive presentment, demand and
        protest
        and notice of presentment, protest, default, non-payment, maturity, release,
        compromise, settlement, extension or renewal of this Note.

      

      This
        Note
        and Borrower’s Liabilities hereunder are secured by all security interests,
        mortgages, liens and encumbrances heretofore, now or hereafter granted to
        Bank
        by Borrower in the Loan Agreement.

      

      Collection
        fees and costs (including but not limited to reasonable attorneys' fees and
        costs) incurred by Bank in connection with the collection or enforcement
        of this
        Note will be payable in accordance with the Loan Agreement.

      

      If
        any
        provision of this Note or the application thereof to any party or circumstance
        is held invalid or unenforceable, the remainder of this Note and the application
        of such provision to other parties or circumstances will not be affected
        thereby
        and the provisions of this Note shall be severable in any such
        instance.

      

      This
        Note
        is submitted by Borrower to Bank at Bank’s principal place of business and shall
        be deemed to have been made thereat. This Note shall be governed and controlled
        by the laws of the State of Illinois as to interpretation, enforcement,
        validity, construction, effect, choice of law and in all other
        respects.

      

      To
        induce
        Bank to accept this Note, Borrower irrevocably agrees that, subject to Bank's
        sole and absolute election, all actions or proceedings in any way, manner
        or
        respect, arising out of or from or related to this Note, shall be litigated
        in
        courts having situs within Cook County, Illinois. Borrower hereby consents
        and
        submits to the jurisdiction of any local, state or federal court located
        within
        said county and state. Borrower hereby waives any right Borrower may have
        to
        transfer or change the venue of any litigation brought against Borrower by
        Bank
        in accordance with this paragraph.

      

      [SIGNATURE
        PAGE FOLLOWS]

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      IN
        WITNESS WHEREOF, each of the undersigned has executed this Note as of the
        date
        first above written.

      

      

      HURON
        CONSULTING GROUP INC.,
        a

      Delaware
        corporation

      

      By: /s/
        Daniel P. Broadhurst   

      Name:
        Daniel P. Broadhurst

      Title: VP
        of
        Operations / Asst. Secretary

      

      By: /s/
        Natalia Delgado    

      Name:
        Natalia Delgado

      Title: General
        Counsel / Corporate Secretary

      

      

      HURON
        CONSULTING SERVICES LLC,
        a

      Delaware
        limited liability company f/k/a

      Huron
        Consulting Group LLC

      

      By: /s/
        Daniel P. Broadhurst   

      Name:
        Daniel P. Broadhurst

      Title: VP
        of
        Operations / Asst. Secretary

      

      By: /s/
        Natalia Delgado    

      Name:
        Natalia Delgado

      Title: General
        Counsel / Corporate Secretary

      

      

      SPELTZ
        & WEIS LLC

      By:
        Huron
        Consulting Group Inc., its manager

      

      By: /s/
        Daniel P. Broadhurst   

      Name:
        Daniel P. Broadhurst

      Title: VP
        of
        Operations / Asst. Secretary

      

      By: /s/
        Natalia Delgado    

      Name:
        Natalia Delgado

      Title: General
        Counsel / Corporate Secretary

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